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Kinder Morgan, Inc. Savings Plan
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 11-K
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ANNUAL REPORT
Pursuant to Section 15(d) of the
Securities Exchange Act of 1934
For the Fiscal Year Ended December 31, 2002
Commission File Number 1-6446
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Kinder Morgan, Inc. Savings Plan
Kinder Morgan, Inc.
500 Dallas Street, Suite 1000
Houston, Texas, 77002
December 31, 2002 and 2001
Kinder Morgan, Inc. Savings Plan
Pages |
|
Report of Independent Auditors | 1 |
Financial Statements: | |
Statements of Net Assets Available for Benefits as of December 31, 2002 and 2001 | 2 |
Statement of Changes in Net Assets Available for Benefits | |
for the year ended December 31, 2002 | 3 |
Notes to Financial Statements | 4 - 13 |
Supplemental Schedules*: | |
Schedule of Assets Held for Investment Purposes - Schedule H, Item 4(i) | |
as of December 31, 2002 | 14 |
Schedule of Reportable Transactions - Schedule H, Item 4(j) | |
for the year ended December 31, 2002 | 15 |
Signature Page | 16 |
* Other schedules required by Section 2520.103-10 of the Department of Labor Rules and Regulations for Reporting and Disclosure under ERISA have been omitted because they are not applicable.
Report of Independent Auditors
To the Participants and Administrator of
Kinder Morgan, Inc. Savings Plan
In our opinion, the accompanying statements of net assets available for benefits and the related statement of changes in net assets available for benefits present fairly, in all material respects, the net assets available for benefits of Kinder Morgan, Inc. Savings Plan (the "Plan") at December 31, 2002 and December 31, 2001, and the changes in net assets available for benefits for the year ended December 31, 2002 in conformity with accounting principles generally accepted in the United States of America. These financial statements are the responsibility of the Plan's management; our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these statements in accordance with auditing standards generally accepted in the United States of America, which require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedules of assets held for investment purposes and reportable transactions are presented for the purpose of additional analysis and are not a required part of the basic financial statements but are supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. These supplemental schedules are the responsibility of the Plan's management. The supplemental schedules have been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, are fairly stated in all material respects in relation to the basic financial statements taken as a whole.
PricewaterhouseCoopers LLP
Houston, Texas
June 25, 2003
-1-
Kinder Morgan, Inc. Savings Plan
Statements of Net Assets Available for Benefits
December 31, |
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2002 |
2001 |
||
Assets | |||
Cash | $ 255,557 |
$ 599,740 |
|
Investments, at fair value (Note 3): | |||
Kinder Morgan, Inc. common stock | 117,621,334 |
146,498,707 |
|
Registered investment companies | 164,437,314 |
192,817,346 |
|
Money market funds | 68,758,104 |
63,012,403 |
|
Participant loans | 8,793,132 |
7,266,154 |
|
Life insurance contracts, at contract value | 683,283 |
687,958 |
|
Total investments | 360,293,167 |
410,282,568 |
|
Net assets available for benefits | $360,548,724 |
$410,882,308 |
|
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============ |
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-2-
Kinder Morgan, Inc. Savings Plan
Statement of Changes in Net Assets Available for Benefits
Year Ended |
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December 31, 2002 |
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Additions To Net Assets Attributed To: | |||
Investment income: | |||
Interest income | $ 629,241 |
||
Dividend income | 4,988,640 |
||
5,617,881 |
|||
Participant contributions | 21,365,190 |
||
Employer contributions | 12,158,048 |
||
Transfers from Plantation and Laser Plans (Note 1) | 12,746,413 |
||
Loan conversions (Note 1) | 593,915 |
||
Other | 7,781 |
||
Total additions | 52,489,228 |
||
Deductions From Net Assets Attributed To: | |||
Net depreciation in fair value of investments (Note 3) | (72,382,258) |
||
Benefits paid to participants | (30,440,554) |
||
Total deductions | (102,822,812) |
||
Net decrease | (50,333,584) |
||
Net assets available for benefits: | |||
Beginning of year | 410,882,308 |
||
End of year | $360,548,724 |
||
============ |
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Kinder Morgan, Inc. Savings Plan Notes to Financial Statements |
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|
|
1. | Description of the Plan |
General The Profit Sharing Plan has been amended and restated, and has been renamed the Kinder Morgan, Inc. Savings Plan (the "Plan"). The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended ("ERISA"). On January 31, 2002, benefits were transferred to the Plan from the Plantation Pipe Line Company - Employees Thrift Plan (the "Plantation Plan") at the election of Plantation Plan participants, and on July 1, 2002, the Plan was merged with the Laser Materials Services, Inc. 401(k) Profit Sharing Plan (the "Laser Plan"). All assets transferred from the Plantation and Laser Plans were invested in the Plan pursuant to the participants' directions. Benefits under the Plan are not guaranteed by the Pension Benefit Guaranty Corporation. Refer to the Plan agreement for a more complete description of the Plan's provisions. Contributions The Company makes Qualified Non-Elective Contributions ("QNEC") to the Plan on behalf of each eligible employee. The QNEC is equal to 4 percent of eligible compensation and is allocated as of each pay period. All QNEC contributions are initially invested in Kinder Morgan, Inc. common stock, which is immediately transferable to other available investments at the employee's discretion. In addition to the QNEC, the Company may also make discretionary contributions to the Plan, based on the Company's performance. For the year ended December 31, 2002, Company contributions totaled approximately $12.2 million. On the dates of the respective elective transfer and merger,
participants in the Plantation and Laser Plans became eligible to participate in the Plan.
All transfers with respect to these participants into the Plan, which totaled
approximately $12.7 million, are included in "Transfers from Plantation and Laser
Plans" in the accompanying Statement of Changes in Net Assets Available for Benefits.
In addition, employees that had outstanding loans through their previous plans were
allowed to transfer those loans into the Plan. These loan coversions are included in
"Loan conversions" in the accompanying Statement of Changes in Net Assets
Available for Benefits. |
-4-
Kinder Morgan, Inc. Savings Plan Notes to Financial Statements |
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|
|
Under Internal Revenue Service regulation,
annual additions under the Plan and all other qualified plans sponsored by the Company are
limited to the lesser of 100 percent of eligible compensation or $40,000 for each
employee. Annual additions are defined as employer contributions and employee
contributions. |
|
Benefits/Vesting Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. Loans Forfeitures |
-5-
Kinder Morgan, Inc. Savings Plan Notes to Financial Statements |
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|
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2. | Significant Accounting Policies |
Basis of Accounting Investment Valuation and Income Recognition Purchases and sales of the funds are reflected on a trade date basis. Gain or loss on sale of investments is based on average cost. The Plan presents in the accompanying Statement of Changes in Net Assets Available for Benefits the net depreciation in the fair value of investments, which consists of realized gains and losses, and the net change in unrealized appreciation (depreciation) on investments (see Note 3). Other |
|
3. | Investments |
Participants may designate their contributions and their allocated portion of the employer contributions, in percentage increments divisible by five, to one or more of the eligible investment programs. New Plan participants may elect to transfer investments from other qualified plans into the Plan. |
-6-
Kinder Morgan, Inc. Savings Plan Notes to Financial Statements |
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The investment programs of the
Plan and the number of participants in each program at December 31, 2002 and 2001 are
briefly described as follows: |
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Self-Directed Brokerage Account - This program consists of participant-directed investments in individual stocks. At December 31, 2002, 80 participants held securities in this program with a cost of $3,480,256 and a market value of $2,469,826. At December 31, 2001, 68 participants held securities in this program with a cost of $4,163,939 and a market value of $3,153,508. Federated Stock Trust - This program consists of investments in blue-chip stocks and seeks growth of income and capital. At December 31, 2002, 886 participants held 126,491 shares with a cost of $4,101,555 and a market value of $3,438,029. At December 31, 2001, 632 participants held 66,902 shares with a cost of $2,279,653 and a market value of $2,270,647. Kinder Morgan, Inc. Common Stock Fund - This program consists of shares of the Company's common stock. At December 31, 2002, 6,089 participants held 2,782,620 shares with a cost of $85,088,657 and a market value of $117,621,334. At December 31, 2001, 5,469 participants held 2,630,611 shares with a cost of $71,431,497 and a market value of $146,498,707. Pimco Total Return - This program consists of investments in intermediate-maturity fixed-income securities. At December 31, 2002, 1,392 participants held 1,206,790 shares with a cost of $12,818,075 and a market value of $12,876,449. At December 31, 2001, 557 participants held 437,855 shares with a cost of $4,585,474 and a market value of $4,579,959. Putnam Asset Allocation Growth Portfolio - This program uses a strategic allocation percentage between equity securities and fixed income securities that is weighted toward equity. At December 31, 2002, 993 participants held 1,615,618 shares with a cost of $20,900,395 and a market value of $12,876,473. At December 31, 2001, 930 participants held 1,763,467 shares with a cost of $23,621,901 and a market value of $16,999,819. Putnam Asset Allocation Balanced Portfolio - This program uses a balanced strategic allocation percentage between equity securities and fixed income securities. At December 31, 2002, 990 participants held 1,795,443 shares with a cost of $20,944,694 and a market value of $15,027,854. At December 31, 2001, 899 participants held 1,816,184 shares with a cost of $21,744,593 and a market value of $17,834,924. |
-7-
Kinder Morgan, Inc. Savings Plan Notes to Financial Statements |
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Putnam Asset Allocation Conservative Portfolio - This program uses a strategic allocation percentage between equity securities and fixed income securities that is weighted toward fixed income. At December 31, 2002, 494 participants held 573,620 shares with a cost of $5,566,126 and a market value of $4,554,544. At December 31, 2001, 410 participants held 548,206 shares with a cost of $5,481,354 and a market value of $4,769,393. Putnam OTC Emerging Growth Fund - This program consists of investments in midsize emerging growth companies. At December 31, 2002, 746 participants held 346,729 shares with a cost of $3,884,010 and a market value of $1,792,588. At December 31, 2001, 718 participants held 263,398 shares with a cost of $3,965,885 and a market value of $2,014,995. Putnam International Growth Fund - This program consists of investments in a diversified portfolio of stocks of companies located outside the United States. At December 31, 2002, 1,739 participants held 934,761 shares with a cost of $21,773,043 and a market value of $15,442,246. At December 31, 2001, 1,697 participants held 972,311 shares with a cost of $23,322,698 and a market value of $19,397,601. Putnam Growth Opportunities Fund - This program consists of investments in large, highly competitive growth companies. At December 31, 2002, 955 participants held 290,148 shares with a cost of $6,757,753 and a market value of $3,046,550. At December 31, 2001, 1,106 participants held 306,422 shares with a cost of $7,705,094 and a market value of $4,587,138. Putnam Fund for Growth and Income - This program consists of investments in a portfolio of common stocks that offer the potential for capital growth, current income or both. At December 31, 2002, 2,225 participants held 2,026,529 shares with a cost of $38,746,779 and a market value of $28,695,653. At December 31, 2001, 2,246 participants held 2,127,201 shares with a cost of $41,415,035 and a market value of $37,779,089. Putnam Income Fund - This program invests primarily in corporate bonds. At December 31, 2002, 922 participants held 1,157,649 shares with a cost of $7,511,283 and a market value of $7,779,402. At December 31, 2001, 964 participants held 1,329,414 shares with a cost of $8,611,704 and a market value of $8,667,777. Putnam Money Market Fund - This program invests primarily in money market investments. At December 31, 2002, 2,566 participants held 66,966,360 shares with a cost and a market value of $66,966,360. At December 31, 2001, 2,229 participants held 61,075,396 shares with a cost and a market value of $61,075,396. |
-8-
Kinder Morgan, Inc. Savings Plan Notes to Financial Statements |
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Putnam Money Market Fund SDB - This program invests primarily in money market investments and serves as the cash balance account for the Self-Directed Brokerage Account. At December 31, 2002, 87 participants held 1,791,744 shares with a cost and a market value of $1,791,744. At December 31, 2001, 71 participants held 1,937,007 shares with a cost and a market value of $1,937,007. Putnam New Opportunities Fund - This program consists of investments in a portfolio of stocks in certain emerging industry groups. At December 31, 2002, 1,382 participants held 291,069 shares with a cost of $21,192,112 and a market value of $8,493,401. At December 31, 2001, 1,655 participants held 385,461 shares with a cost of $28,162,869 and a market value of $16,173,931. Putnam Voyager Fund - This program consists of investments in common stocks of small companies. At December 31, 2002, 2,847 participants held 2,567,353 shares with a cost of $60,511,915 and a market value of $33,503,962. At December 31, 2001, 2,131 participants held 2,663,677 shares with a cost of $66,365,581 and a market value of $47,333,537. Putnam S&P 500 Index Fund - This program invests in stocks that closely approximate the return of the S&P 500 index. At December 31, 2002, 1,202 participants held 338,243 shares with a cost of $9,856,804 and a market value of $7,319,580. At December 31, 2001, 1,043 participants held 260,504 shares with a cost of $8,292,634 and a market value of $7,255,028. Lord Abbett Mid-Cap Value Fund - This program consists of investments in common stocks of medium-sized companies. At December 31, 2002, 264 participants held 80,554 shares with a cost of $1,227,200 and a market value of $1,238,922. This investment option was not available to participants in 2001. Royce Low-Priced Stock Fund - This program consists of investments in common stocks of small companies whose average price is less than $20 per share. At December 31, 2002, 222 participants held 87,347 shares with a cost of $877,514 and a market value of $851,631. This investment option was not available to participants in 2001. Exxon Mobil Corporation Common Stock - This program is restricted to former participants of the Plantation Plan and is closed to new purchases. Participants have the option of continuing to hold shares of this program or transferring to other fund options at their discretion. At December 31, 2002, 69 participants held 107,759 shares with a cost of $1,837,521 and a market value of $3,765,115. |
-9-
Kinder Morgan, Inc. Savings Plan Notes to Financial Statements |
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ChevronTexaco Corporation Common Stock - This program is restricted to former participants of the Plantation Plan and is closed to new purchases. Participants have the option of continuing to hold shares of this program or transferring to other fund options at their discretion. At December 31, 2002, 67 participants held 19,030 shares with a cost of $865,649 and a market value of $1,265,089. |
The Contract is included in the Statements of Net Assets Available for Benefits at contract value (which represents contributions made under the contract, plus earnings, less withdrawals and administrative expenses) because it is fully benefit responsive. There are no reserves against contract value for credit risk of Principal or otherwise. The value of the Contract at December 31, 2002 and 2001 was $683,283 and $687,958, respectively. The following presents the fair value of investments that represent 5 percent or more of the Plan's net assets: |
December 31, |
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2002 |
2001 |
||
Kinder Morgan, Inc. Common Stock Fund | $ 117,621,334 |
$ 146,498,707 |
|
Putnam Fund for Growth and Income | 28,695,653 |
37,779,089 |
|
Putnam Voyager Fund | 33,503,962 |
47,333,537 |
|
Putnam Money Market Fund | 66,966,360 |
61,075,396 |
-10-
Kinder Morgan, Inc. Savings Plan Notes to Financial Statements |
|
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During 2002, the Plan's investments
appreciated (depreciated) in value (including gains and losses on investments bought and
sold, as well as held during the year) as follows: |
Year Ended |
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December 31, 2002 |
|||
Self-Directed Brokerage Account | $ (1,222,998) |
||
Federated Stock Trust | (793,870) |
||
Kinder Morgan, Inc. Common Stock Fund | (35,341,831) |
||
Pimco Total Return | 91,149 |
||
Putnam Asset Allocation Growth Portfolio | (2,849,053) |
||
Putnam Asset Allocation Balanced Portfolio | (2,658,192) |
||
Putnam Asset Allocation Conservative Portfolio | (446,769) |
||
Putnam OTC Emerging Growth Fund | (822,130) |
||
Putnam International Growth Fund | (3,219,011) |
||
Putnam Growth Opportunities | (1,466,263) |
||
Putnam Fund for Growth and Income | (7,752,676) |
||
Putnam Income Fund | 251,332 |
||
Putnam New Opportunities Fund | (4,653,991) |
||
Putnam Voyager Fund | (12,139,807) |
||
Putnam S&P 500 Index Fund | (1,963,422) |
||
Lord Abbett Mid-Cap Value Fund | 1,707 |
||
Royce Low-Priced Stock Fund | (29,135) |
||
Exxon Mobil Corporation Common Stock | 2,177,053 |
||
ChevronTexaco Corporation Common Stock | 455,649 |
||
$(72,382,258) |
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============ |
4. |
Nonparticipant-directed Investments |
|
|
Information about the significant
components of the changes in net assets relating to the nonparticipant-directed
investments in Kinder Morgan, Inc. common stock of $117,621,334 and $146,498,707 at
December 31, 2002 and 2001, respectively, is as follows: |
Year Ended |
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December 31, 2002 |
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Changes in Net Assets: | |||
Dividends | $ 821,036 |
||
Net depreciation | (35,341,831) |
||
Contributions | 16,933,855 |
||
Benefits paid | (9,251,380) |
||
Interfund transfers | (1,307,141) |
||
Other, net | (731,912) |
||
$(28,877,373) |
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============ |
-11-
Kinder Morgan, Inc. Savings Plan Notes to Financial Statements |
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5. | Tax Status |
The Plan is qualified under the IRC as exempt from federal income taxes, and the Plan received a favorable determination letter from the Internal Revenue Service on November 26, 2002. The Plan has been amended since receiving this determination; however, the Plan administrator believes that the Plan is currently designed and being operated in compliance with the applicable requirements of the IRC. Therefore, the administrator believes that the Plan was tax exempt as of the financial statement dates. Employer contributions to the Plan and all earnings from Plan
investments are not taxable to participants until a partial or complete distribution of
such contributions or earnings is made. |
|
6. | Party-in-Interest Transactions |
Certain Plan investments are shares of
Kinder Morgan, Inc. common stock. Certain Plan investments are shares of mutual funds and
money market funds managed by Putnam Investments, Inc. Putnam Fiduciary Trust Company (the
Trustee of the Plan) is a subsidiary of Putnam Investments, Inc. and, therefore, these
transactions qualify as party-in-interest. Any purchases and sales of these investments
are open market transactions at fair market value. Consequently, such transactions are
permitted under the provisions of the Plan and are exempt from the prohibition of
party-in-interest transactions under ERISA. |
|
7. | Risks and Uncertainties |
The Plan provides for various investment
options in mutual funds, money market funds and Company common stock. Investments, in
general, are exposed to various risks, such as interest rate, credit and overall market
volatility risk. Due to the level of risk associated with certain investments, it is
reasonably possible that changes in the values of investments will occur in the near term
and that such changes could materially affect participants' account balances and the
amounts shown in the Statements of Net Assets Available for Benefits. |
8. | Reconciliation of the Plan Financial Statements to Form 5500 |
The following is a reconciliation of the
Plan's net assets available for benefits per the accompanying financial statements at
December 31, 2002 and 2001 to Form 5500: |
December 31, |
|||
2002 |
2001 |
||
Net assets available for benefits per the financial statements | $360,548,724 |
$410,882,308 |
|
Deemed distributions of participant loans | (222,396) |
- |
|
Net assets available for benefits per Form 5500 | $360,326,328 |
$410,882,308 |
|
============ |
============ |
-12-
Kinder Morgan, Inc. Savings Plan Notes to Financial Statements |
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The following is a reconciliation of the
change in net assets available for benefits per the accompanying financial statements for
the year ended December 31, 2002 to Form 5500: |
Year Ended |
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December 31, 2002 |
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Net decrease in net assets available for benefits | |||
per the financial statements | $ 50,333,584 |
||
Deemed distributions of participant loans | 222,396 |
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Net loss, net of transfer of assets per Form 5500 | 50,555,980 | ||
============ |
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-13-
Kinder Morgan, Inc. Savings Plan
Schedule of Assets Held for Investment Purposes - Schedule H, Item 4(i)
Issue, Borrower, Lessor or Similar Party | Description of Investment | Cost* |
Current Value |
|||
Self-Directed Brokerage Account | Self-Directed Brokerage Account | $ 3,480,256 |
$ 2,469,826 |
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Kinder Morgan, Inc. Common Stock Fund** | Company Common Stock | 85,088,657 |
117,621,334 |
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Federated Stock Trust | Registered Investment Company | 4,101,555 |
3,438,029 |
|||
Pimco Total Return | Registered Investment Company | 12,818,075 |
12,876,449 |
|||
Lord Abbett Mid-Cap Value Fund | Registered Investment Company | 1,227,200 |
1,238,922 |
|||
Royce Low-Priced Stock Fund | Registered Investment Company | 877,514 |
851,631 |
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Exxon Mobil Corporation Common Stock | Common Stock | 1,837,521 |
3,765,115 |
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ChevronTexaco Corporation Common Stock | Common Stock | 865,649 |
1,265,089 |
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Putnam Investments:** | ||||||
Putnam Voyager Fund | Registered Investment Company | 60,511,915 |
33,503,962 |
|||
Putnam New Opportunities Fund | Registered Investment Company | 21,192,112 |
8,493,401 |
|||
Putnam Asset Allocation Growth Portfolio | Registered Investment Company | 20,900,395 |
12,876,473 |
|||
Putnam Asset Allocation Balanced Portfolio | Registered Investment Company | 20,944,694 |
15,027,854 |
|||
Putnam Asset Allocation Conservative Portfolio | Registered Investment Company | 5,566,126 |
4,554,544 |
|||
Putnam Fund for Growth and Income | Registered Investment Company | 38,746,779 |
28,695,653 |
|||
Putnam OTC Emerging Growth Fund | Registered Investment Company | 3,884,010 |
1,792,588 |
|||
Putnam Income Fund | Registered Investment Company | 7,511,283 |
7,779,402 |
|||
Putnam International Growth Fund | Registered Investment Company | 21,773,043 |
15,442,246 |
|||
Putnam Growth Opportunities Fund | Registered Investment Company | 6,757,753 |
3,046,550 |
|||
Putnam S&P 500 Index Fund | Registered Investment Company | 9,856,804 |
7,319,580 |
|||
Putnam Money Market Fund | Money Market Fund | 66,966,360 |
66,966,360 |
|||
Putnam Money Market Fund SDB | Money Market Fund | 1,791,744 |
1,791,744 |
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Principal Financial Group | Insurance Contract | 683,283 |
||||
Participant Loans** | Loans Ranging From 0 - 10 Years | |||||
Maturity with Interest Rates | ||||||
Ranging from 4.25% to 10.50% | 8,793,132 |
8,793,132 |
||||
Total Investments |
$405,492,577 |
$360,293,167 |
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============ |
============ |
*
Determined using original historical cost-14-
Kinder Morgan, Inc. Savings Plan
Schedule of Reportable Transactions - Schedule H, Item 4(j)
**Identity of |
Description of Asset |
* Purchase Price |
* Selling Price |
Cost of Asset |
Current Value of Asset |
Net Gain (Loss) |
||||||
|
||||||||||||
Kinder Morgan, Inc. |
Common Stock |
$48,767,801 |
$ - |
$48,767,801 |
$48,767,801 |
$ - |
||||||
|
||||||||||||
Kinder Morgan, Inc. |
Common Stock |
$ - |
$42,303,346 |
$35,110,643 |
$42,303,346 |
$ 7,192,703 |
||||||
|
*
Represents a transaction or a series of transactions in securities of the same issue in excess of 5 percent of the Plan's market value as of December 31, 2001.
-15-
Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees have duly caused this annual report to be signed by the undersigned hereunto duly authorized.
KINDER MORGAN, INC. SAVINGS PLAN |
||
By: | /s/ JOSEPH LISTENGART | |
Name: | Joseph Listengart | |
Title: | Vice President and General Counsel | |
Date: | June 27, 2003 | |
- -16-
EXHIBIT INDEX
Exhibit Number |
Description |
23.1 |
Consent of PricewaterhouseCoopers LLP dated June 25, 2003 |
99.1 | Chief Executive Officer Certification |
99.2 | Chief Financial Officer Certification |
Exhibit 23.1
CONSENT OF INDEPENDENT ACCOUNTANTS
We hereby consent to the incorporation by reference in the Registration Statement on Form S-8 (No. 333-42178) of Kinder Morgan, Inc. of our report dated June 25, 2003 relating to the financial statements of Kinder Morgan, Inc. Savings Plan, which appears in this Form 11-K.
PricewaterhouseCoopers LLP
Houston, Texas
June 25, 2003
Exhibit 99.1
CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 906
OF THE
SARBANES-OXLEY ACT OF 2002
In connection with the Annual Report of the Kinder Morgan, Inc. Savings Plan (the "Plan") on Form 11-K for the year ended December 31, 2002, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), the undersigned, in the capacity and on the date indicated below, hereby certifies pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:
(1) |
The Report fully complies with the requirements of Section 15(d) of the Securities |
Exchange Act of 1934; and | |
(2) |
The information contained in the Report fairly presents, in all material respects, the |
net assets available for benefits and the changes in net assets available for benefits of the Plan. |
Dated: June 27, 2003 | /s/ Richard D. Kinder | |
Richard D. Kinder Chairman and Chief Executive Officer |
Exhibit 99.2
CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 906
OF THE
SARBANES-OXLEY ACT OF 2002
In connection with the Annual Report of the Kinder Morgan, Inc. Savings Plan (the "Plan") on Form 11-K for the year ended December 31, 2002, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), the undersigned, in the capacity and on the date indicated below, hereby certifies pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:
(1) |
The Report fully complies with the requirements of Section 15(d) of the Securities |
Exchange Act of 1934; and | |
(2) |
The information contained in the Report fairly presents, in all material respects, the |
net assets available for benefits and the changes in net assets available for benefits of the Plan. |
Dated: June 27, 2003 | /s/ C. Park Shaper | |
C. Park Shaper Vice President, Treasurer and Chief Financial Officer |
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