Reportable Segments |
Reportable Segments
For segment reporting purposes, effective January 1, 2019, certain assets were transferred among our business segments. As a result, individual segment results for the three months ended March 31, 2018 and balances as of December 31, 2018 have been reclassified to conform to the current presentation in the following tables.
Financial information by segment follows (in millions): | | | | | | | | | | Three Months Ended March 31, | | 2019 | | 2018 | Revenues | | | | Natural Gas Pipelines | | | | Revenues from external customers | $ | 2,192 |
| | $ | 2,116 |
| Intersegment revenues | 9 |
| | 10 |
| Products Pipelines | 424 |
| | 442 |
| Terminals | | | | Revenues from external customers | 508 |
| | 495 |
| Intersegment revenues | 1 |
| | — |
| CO2 | 305 |
| | 304 |
| Kinder Morgan Canada(a) | — |
| | 61 |
| Corporate and intersegment eliminations | (10 | ) | | (10 | ) | Total consolidated revenues(b) | $ | 3,429 |
| | $ | 3,418 |
|
| | | | | | | | | | Three Months Ended March 31, | | 2019 | | 2018 | Segment EBDA(c) | | | | Natural Gas Pipelines | $ | 1,203 |
| | $ | 1,128 |
| Products Pipelines | 276 |
| | 266 |
| Terminals | 299 |
| | 296 |
| CO2 | 198 |
| | 199 |
| Kinder Morgan Canada(a) | (2 | ) | | 46 |
| Total Segment EBDA(d) | 1,974 |
| | 1,935 |
| DD&A | (593 | ) | | (570 | ) | Amortization of excess cost of equity investments | (21 | ) | | (32 | ) | General and administrative and corporate charges | (161 | ) | | (160 | ) | Interest, net | (460 | ) | | (467 | ) | Income tax expense | (172 | ) | | (164 | ) | Total consolidated net income | $ | 567 |
| | $ | 542 |
|
| | | | | | | | | | March 31, 2019 | | December 31, 2018 | Assets | | | | Natural Gas Pipelines | $ | 50,360 |
| | $ | 50,261 |
| Products Pipelines | 9,538 |
| | 9,598 |
| Terminals | 9,950 |
| | 9,415 |
| CO2 | 3,747 |
| | 3,928 |
| Corporate assets(e) | 2,697 |
| | 5,664 |
| Total consolidated assets(f) | $ | 76,292 |
| | $ | 78,866 |
|
_______ | | (a) | On August 31, 2018, the assets comprising the Kinder Morgan Canada business segment were sold; therefore, this segment does not have results of operations on a prospective basis (see Note 2). |
| | (b) | Revenues previously reported for the three months ended March 31, 2018 were $2,166 million, $399 million, $493 million and $(5) million for the Natural Gas Pipelines, Products Pipelines and Terminals business segments, and Corporate and intersegment eliminations, respectively. |
| | (c) | Includes revenues, earnings from equity investments, other, net, less operating expenses. |
| | (d) | Segment EBDA for the three months ended March 31, 2018 were $1,136 million, $259 million and $295 million for the Natural Gas Pipelines, Product Pipelines and Terminals business segments, respectively. |
| | (e) | Includes cash and cash equivalents, margin and restricted deposits, certain prepaid assets and deferred charges, including income tax related assets, risk management assets related to debt fair value adjustments, corporate headquarters in Houston, Texas and miscellaneous corporate assets (such as information technology, telecommunications equipment and legacy activity) not allocated to our reportable segments. |
| | (f) | Assets previously reported as of December 31, 2018 were $51,562 million, $8,429 million and $9,283 million for the Natural Gas Pipelines, Products Pipelines and Terminals business segments, respectively. The reclassification included a transfer of $450 million of goodwill from the Natural Gas Pipelines Non-Regulated reporting unit to the Product Pipelines reporting unit. |
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