NYSE: KMI
KINDER MORGAN, INC.CIK 0001506307 · SIC 4922 · Natural Gas Distribution
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Kinder Morgan issues $1.75B in senior notes to refinance debt and repay commercial paper
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Kinder Morgan files preliminary prospectus for two series of senior notes; terms not yet set
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Latest financial statements
From 10-Q filed Oct 23, 2026 (period ending Sep 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Income (Unaudited)
(In millions, except per share amounts, unaudited)
| Description | Three months ended September 30, 2026 | Three months ended September 30, 2025 | Nine months ended September 30, 2026 | Nine months ended September 30, 2025 |
|---|---|---|---|---|
| Revenues | ||||
| Services | 2,492 | 2,340 | 7,473 | 7,026 |
| Commodity sales | 1,989 | 1,758 | 6,212 | 5,262 |
| Other | 50 | 48 | 151 | 141 |
| Total Revenues | 4,531 | 4,146 | 13,836 | 12,429 |
| Operating Costs, Expenses, and Other | ||||
| Costs of sales (exclusive of items shown separately below) | 1,566 | 1,395 | 4,720 | 4,082 |
| Operations and maintenance | 949 | 786 | 2,466 | 2,270 |
| Depreciation, depletion, and amortization | 628 | 609 | 1,881 | 1,835 |
| General and administrative | 190 | 183 | 566 | 558 |
| Taxes, other than income taxes | 121 | 111 | 355 | 334 |
| Other income, net | (83) | (1) | (102) | (10) |
| Total Operating Costs, Expenses, and Other | 3,371 | 3,083 | 9,886 | 9,069 |
| Operating Income | 1,160 | 1,063 | 3,950 | 3,360 |
| Other Income (Expense) | ||||
| Earnings from equity investments | 231 | 221 | 710 | 647 |
| Interest, net | (430) | (456) | (1,285) | (1,359) |
| Other, net | 19 | 11 | 59 | 39 |
| Total Other Expense | (180) | (224) | (516) | (673) |
| Income Before Income Taxes | 980 | 839 | 3,434 | 2,687 |
| Income Tax Expense | (190) | (185) | (749) | (548) |
| Net Income | 790 | 654 | 2,685 | 2,139 |
| Net Income Attributable to Noncontrolling Interests | (26) | (26) | (78) | (79) |
| Net Income Attributable to Kinder Morgan, Inc. | 764 | 628 | 2,607 | 2,060 |
| Class P Common Stock | ||||
| Basic and Diluted Earnings Per Share | 0.34 | 0.28 | 1.17 | 0.92 |
| Basic and Diluted Weighted Average Shares Outstanding | 2,227 | 2,224 | 2,226 | 2,223 |
Consolidated Balance Sheets (Unaudited)
(In millions, except share and per share amounts, unaudited)
| Description | September 30, 2026 | December 31, 2025 |
|---|---|---|
| ASSETS | ||
| Current Assets | ||
| Cash and cash equivalents | 918 | 63 |
| Restricted deposits | 25 | 46 |
| Accounts receivable | 1,596 | 1,714 |
| Inventories | 621 | 574 |
| Other current assets | 310 | 357 |
| Total current assets | 3,470 | 2,754 |
| Property, plant, and equipment, net | 40,892 | 39,331 |
| Investments | 7,836 | 7,532 |
| Goodwill | 20,075 | 20,084 |
| Other intangibles, net | 1,822 | 1,730 |
| Deferred charges and other assets | 1,302 | 1,317 |
| Total Assets | 75,397 | 72,748 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current Liabilities | ||
| Current portion of debt | 1,726 | 1,226 |
| Accounts payable | 1,587 | 1,408 |
| Accrued interest | 365 | 534 |
| Accrued taxes | 289 | 256 |
| Other current liabilities | 1,212 | 898 |
| Total current liabilities | 5,179 | 4,322 |
| Long-term liabilities and deferred credits | ||
| Long-term debt | ||
| Outstanding | 31,445 | 30,597 |
| Debt fair value adjustments | (98) | 180 |
| Total long-term debt | 31,347 | 30,777 |
| Deferred income taxes | 3,603 | 2,891 |
| Other long-term liabilities and deferred credits | 2,441 | 2,309 |
| Total long-term liabilities and deferred credits | 37,391 | 35,977 |
| Total Liabilities | 42,570 | 40,299 |
| Commitments and contingencies (Notes 3 and 9) | ||
| Stockholders’ Equity | ||
| Class P Common Stock, $0.01 par value, 4,000,000,000 shares authorized, 2,227,712,648 and 2,224,777,750 shares, respectively, issued and outstanding | 22 | 22 |
| Additional paid-in capital | 41,293 | 41,276 |
| Accumulated deficit | (9,558) | (10,181) |
| Accumulated other comprehensive (loss)/income | (162) | 45 |
| Total Kinder Morgan, Inc.’s stockholders’ equity | 31,595 | 31,162 |
| Noncontrolling interests | 1,232 | 1,287 |
| Total Stockholders’ Equity | 32,827 | 32,449 |
| Total Liabilities and Stockholders’ Equity | 75,397 | 72,748 |
Consolidated Statements of Cash Flows
(In millions, unaudited)
| Description | Nine months ended September 30, 2026 | Nine months ended September 30, 2025 |
|---|---|---|
| Cash Flows From Operating Activities | ||
| Net income | 2,685 | 2,139 |
| Adjustments to reconcile net income to net cash provided by operating activities | ||
| Depreciation, depletion, and amortization | 1,881 | 1,835 |
| Deferred income taxes | 770 | 512 |
| Change in fair value of derivative contracts | 25 | 14 |
| Gain on divestitures, net (Note 2) | (70) | (3) |
| Earnings from equity investments | (710) | (647) |
| Distributions of equity investment earnings | 575 | 585 |
| Changes in components of working capital | ||
| Accounts receivable | 123 | 75 |
| Inventories | (46) | (5) |
| Other current assets | (17) | 13 |
| Accounts payable | (13) | (30) |
| Accrued interest, net of interest rate swaps | (166) | (181) |
| Accrued taxes | 33 | 19 |
| Other current liabilities | 129 | (26) |
| Other, net | (158) | (75) |
| Net Cash Provided by Operating Activities | 5,041 | 4,225 |
| Cash Flows From Investing Activities | ||
| Acquisition of assets, net of cash acquired (Note 2) | (503) | (648) |
| Capital expenditures | (2,831) | (2,206) |
| Net proceeds (cost of removal) from sales of assets (Note 2) | 54 | (14) |
| Contributions to investments | (239) | (103) |
| Distributions from equity investments in excess of cumulative earnings | 138 | 269 |
| Net Cash Used in Investing Activities | (3,381) | (2,702) |
| Cash Flows From Financing Activities | ||
| Issuances of debt | 6,415 | 8,434 |
| Payments of debt | (5,079) | (7,910) |
| Debt issue costs | (26) | (18) |
| Dividends | (1,984) | (1,950) |
| Distributions to noncontrolling interests | (119) | (122) |
| Other, net | (33) | (38) |
| Net Cash Used in Financing Activities | (826) | (1,604) |
| Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Deposits | 834 | (81) |
| Cash, Cash Equivalents, and Restricted Deposits, beginning of period | 109 | 214 |
| Cash, Cash Equivalents, and Restricted Deposits, end of period | 943 | 133 |
Amounts as printed on the EDGAR/iXBRL face — (In millions, except per share amounts, unaudited); (In millions, except share and per share amounts, unaudited); (In millions, unaudited). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗