Alberta, Canada (State or other jurisdiction of incorporation) | 000-55864 (Commission File Number) | N/A (I.R.S. Employer Identification No.) |
o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 2.02. | Results of Operations and Financial Condition |
Item 9.01. | Financial Statements and Exhibits |
(d) | Exhibits The exhibit set forth below is being furnished pursuant to Item 2.02. |
Exhibit Number | Description |
99.1 |
KINDER MORGAN CANADA LIMITED | ||||
Dated: April 17, 2019 | By: | /s/ Dax Sanders | ||||
Dax Sanders Chief Financial Officer |
Exhibit 99.1 |
CONTACTS | ||
Media Relations | Investor Relations | |
(866) 775-5789 | (800) 315-0578 | |
media@kindermorgancanadalimited.com | kml_ir@kindermorgancanadalimited.com | |
www.kindermorgancanadalimited.com |
Three Months Ended March 31, | ||||||||||
2019 | 2018 | |||||||||
Revenues | $ | 102.0 | $ | 88.6 | ||||||
Costs, expenses and other | ||||||||||
Operations and maintenance | 37.8 | 38.1 | ||||||||
Depreciation and amortization | 21.8 | 19.7 | ||||||||
General and administrative | 11.1 | 8.9 | ||||||||
Taxes, other than income taxes | 2.3 | 1.2 | ||||||||
Other (income) expense, net | — | 0.1 | ||||||||
73.0 | 68.0 | |||||||||
Operating income | 29.0 | 20.6 | ||||||||
Other income (expense) | ||||||||||
Interest, net | 1.2 | (0.4 | ) | |||||||
Foreign exchange loss | (0.1 | ) | (0.3 | ) | ||||||
Other, net | 0.1 | — | ||||||||
Income from continuing operations before income taxes | 30.2 | 19.9 | ||||||||
Income tax expense | (8.9 | ) | (5.9 | ) | ||||||
Income from continuing operations | 21.3 | 14.0 | ||||||||
Income from Discontinued Operations, net of tax (1) | 30.4 | |||||||||
Net income | 21.3 | 44.4 | ||||||||
Preferred share dividends | (7.2 | ) | (7.2 | ) | ||||||
Net income attributable to KMI interest | (9.9 | ) | (26.4 | ) | ||||||
Net income available to restricted voting stockholders | $ | 4.2 | $ | 10.8 | ||||||
Restricted Voting Shares | ||||||||||
Basic and diluted earnings per restricted voting share from Continuing Operations | $ | 0.12 | 0.05 | |||||||
Basic and diluted earnings per restricted voting share from Discontinued Operations (1) | 0.26 | |||||||||
Basic and diluted weighted average restricted voting shares outstanding (2) | 34.9 | 34.5 | ||||||||
Segment EBDA | % change | |||||||||
Terminals | $ | 51.6 | $ | 42.6 | 21 | % | ||||
Pipelines | 10.3 | 6.3 | 63 | % | ||||||
Total Segment EBDA from Continuing Operations | $ | 61.9 | $ | 48.9 | 27 | % |
Notes | ||||||||||
(1) | 2018 amount represents income from Trans Mountain pipeline system. | |||||||||
(2) | Reflects our Jan. 2019 1-for-3 reverse stock split for all periods presented in accordance with U.S. GAAP. |
Three Months Ended March 31, | ||||||||||
2019 | 2018 | % change | ||||||||
Segment EBDA before certain items (1) | ||||||||||
Terminals | $ | 51.6 | $ | 42.6 | 21 | % | ||||
Pipelines | 10.3 | 6.3 | 63 | % | ||||||
Subtotal | 61.9 | 48.9 | 27 | % | ||||||
DD&A | (21.8 | ) | (19.7 | ) | ||||||
General and administrative and corporate charges (1) | (10.4 | ) | (8.9 | ) | ||||||
Interest income (expense), net (1) | 1.2 | (0.4 | ) | |||||||
Subtotal | 30.9 | 19.9 | ||||||||
Book taxes (1) | (9.1 | ) | (5.9 | ) | ||||||
Income from continuing operations before Certain Items ("Adjusted Earnings from continuing operations") | 21.8 | 14.0 | ||||||||
Certain items | ||||||||||
Costs of strategic initiatives | (0.7 | ) | — | |||||||
Book tax certain items | 0.2 | — | ||||||||
Total certain items | (0.5 | ) | — | |||||||
Income from continuing operations | 21.3 | 14.0 | ||||||||
Income from discontinued operations | — | 30.4 | ||||||||
Net Income | 21.3 | 44.4 | ||||||||
Preferred share dividends | (7.2 | ) | (7.2 | ) | ||||||
Net income attributable to KMI interest | (9.9 | ) | (26.4 | ) | ||||||
Net income available to restricted voting stockholders | $ | 4.2 | $ | 10.8 | ||||||
Continuing Operations: | ||||||||||
Income from continuing operations | $ | 21.3 | $ | 14.0 | ||||||
Total certain items | 0.5 | — | ||||||||
Adjusted earnings from continuing operations | 21.8 | 14.0 | ||||||||
DD&A | 21.8 | 19.7 | ||||||||
Total book taxes | 9.1 | 5.9 | ||||||||
Cash taxes | (20.8 | ) | (6.8 | ) | ||||||
Preferred share dividends | (7.2 | ) | (7.2 | ) | ||||||
Sustaining capital expenditures | (2.3 | ) | (2.1 | ) | ||||||
DCF from continuing operations | 22.4 | $ | 23.5 | |||||||
DCF from continuing operations to KMI interest | (15.7 | ) | (16.5 | ) | ||||||
DCF from continuing operations for restricted voting stockholders (2) | $ | 6.7 | $ | 7.0 | ||||||
Weighted average split-adjusted restricted voting shares outstanding for dividends (3) | 35.1 | 34.8 | ||||||||
DCF from continuing operations per split-adjusted restricted voting share | $ | 0.19 | $ | 0.20 | ||||||
Adjusted EBITDA from continuing operations (4) | $ | 51.5 | $ | 40.0 |
Notes (In millions of Canadian dollars) | ||||||||||||||||||
(1) | Excludes certain items: 1Q 2019 - General and administrative $(0.7), book tax $0.2 | |||||||||||||||||
(2) | DCF is calculated as follows: |
Three Months Ended March 31, | ||||||||
2019 | 2018 | |||||||
Discontinued Operations: | ||||||||
Income from discontinued operations, net of tax | $ | 30.4 | ||||||
Certain items before book tax | — | |||||||
Book tax certain items | — | |||||||
DD&A | 17.1 | |||||||
Total book taxes before certain items | 10.6 | |||||||
Sustaining capital expenditures | (4.6 | ) | ||||||
DCF from discontinued operations | 53.5 | |||||||
DCF from continuing operations for restricted voting stockholders | $ | 6.7 | 7.0 | |||||
DCF from continuing operations to KMI interest | 15.7 | 16.5 | ||||||
DCF | $ | 22.4 | $ | 77.0 |
(3) | Reflects our January 2019 1-for-3 reverse stock split for all periods presented in accordance with U.S. GAAP. Also, includes stock awards of restricted voting shares that participate in dividends. | |||||||||||||||||
(4) | Adjusted EBITDA is calculated as follows: |
Three Months Ended March 31, | ||||||||
2019 | 2018 | |||||||
Discontinued Operations: | ||||||||
Income from discontinued operations, net of tax | $ | 30.4 | ||||||
Total certain items | — | |||||||
DD&A | 17.1 | |||||||
Total book taxes before certain items | 10.6 | |||||||
Interest, net before certain items | (0.1 | ) | ||||||
Adjusted EBITDA from discontinued operations | 58.0 | |||||||
Continuing Operations: | ||||||||
Income from continuing operations | $ | 21.3 | 14.0 | |||||
Total certain items | 0.5 | — | ||||||
DD&A | 21.8 | 19.7 | ||||||
Total book taxes before certain items | 9.1 | 5.9 | ||||||
Interest, net before certain items | (1.2 | ) | 0.4 | |||||
Adjusted EBITDA from continuing operations | 51.5 | 40.0 | ||||||
Adjusted EBITDA | $ | 51.5 | $ | 98.0 |
Three Months Ended March 31, | ||||||
2019 | 2018 | |||||
Terminals | ||||||
Liquids Leasable Capacity (MMBbl) (1) | 9.6 | 8.2 | ||||
Liquids Utilization % | 100.0 | % | 100.0 | % | ||
Bulk Transload Tonnage (MMtons) | 1.0 | 0.8 | ||||
Pipelines | ||||||
Canadian Cochin (MBbl/d - mainline throughput) | 89 | 85 | ||||
(1) | Includes KML's share of Joint Venture capacity. | |||||||||||||||||
March 31, | December 31, | |||||||
2019 | 2018 | |||||||
ASSETS | ||||||||
Cash and cash equivalents | $ | 46.6 | $ | 4,338.1 | ||||
Other current assets | 53.6 | 39.6 | ||||||
Property, plant and equipment, net | 964.0 | 981.3 | ||||||
Lease assets | 513.6 | — | ||||||
Deferred charges and other assets | 11.9 | 10.6 | ||||||
TOTAL ASSETS | $ | 1,589.7 | $ | 5,369.6 | ||||
LIABILITIES AND EQUITY | ||||||||
Liabilities | ||||||||
Credit facility | $ | 50.0 | $ | — | ||||
Distribution payable | — | 1,195.1 | ||||||
Distribution payable-related parties | — | 2,782.3 | ||||||
Current lease liabilities | 17.0 | — | ||||||
Other current liabilities (1) | 60.5 | 423.2 | ||||||
Lease liabilities | 496.6 | — | ||||||
Other long-term liabilities (1) | 77.5 | 76.5 | ||||||
Total liabilities | 701.6 | 4,477.1 | ||||||
Equity | ||||||||
Preferred share capital | 537.2 | 537.2 | ||||||
Other equity | 111.2 | 112.3 | ||||||
Total KML equity | 648.4 | 649.5 | ||||||
KMI interest | 239.7 | 243.0 | ||||||
Total equity | 888.1 | 892.5 | ||||||
TOTAL LIABILITIES AND EQUITY | $ | 1,589.7 | $ | 5,369.6 | ||||
Net Debt (Cash) (2) | $ | 278.4 | $ | (4,063.1 | ) | |||
Adjusted Net Debt (Cash) (3) | $ | 278.4 | $ | (85.7 | ) | |||
Adjusted EBITDA Twelve Months Ended | ||||||||
March 31, | December 31, | |||||||
Reconciliation of Income from Continuing Operations to Adjusted EBITDA | 2019 | 2018 | ||||||
Income from continuing operations | $ | 107.2 | $ | 100.0 | ||||
Total certain items | (1.7 | ) | (2.2 | ) | ||||
DD&A | 84.7 | 82.6 | ||||||
Total book taxes before certain items | 40.1 | 36.9 | ||||||
Interest, net before certain items | (29.8 | ) | (28.2 | ) | ||||
Adjusted EBITDA (4) | $ | 200.5 | $ | 189.1 | ||||
Adjusted Net Debt (Cash) to Adjusted EBITDA | 1.4 | (0.5 | ) |
Notes | ||||||||||
(1) | Includes impact to accrued taxes and deferred income taxes resulting from the sale of Trans Mountain pipeline system in 2018. | |||||||||
(2) | March 31, 2019 and December 31, 2018 amounts include: $275 million representing 50% of our preferred stock capital. | |||||||||
(3) | December 31, 2018 amount excludes return of capital distributions of $3,977.4 million from cash and cash equivalents. | |||||||||
(4) | Excludes income from discontinued operations for the period January 1, 2018 to August 31, 2018, see our 2018 Form 10-K for the year ended December 31, 2018 for more information about discontinued operations. |
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end