XML 39 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (USD $)
In Millions, except Per Share data, unless otherwise specified
 3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Revenues        
Natural gas sales $ 675 $ 925 $ 1,756 $ 2,575
Services 989 737 2,585 2,190
Product sales and other 669 449 1,791 1,201
Total Revenues 2,333 2,111 6,132 5,966
Operating Costs, Expenses and Other        
Gas purchases and other costs of sales 828 914 2,036 2,550
Operations and maintenance 429 399 1,094 1,163
Depreciation, depletion and amortization 292 247 796 685
General and administrative 131 [1] 100 [1] 379 [1] 387 [1]
Taxes, other than income taxes 63 37 169 133
Other expense (income) (8) (1) (28) (15)
Total Operating Costs, Expenses and Other 1,735 1,696 4,446 4,903
Operating Income 598 415 1,686 1,063
Other Income (Expense)        
Earnings from equity investments 100 52 225 155
Amortization of excess cost of equity investments (1) (2) (5) (5)
Interest expense (184) (134) (480) (396)
Interest income 8 6 19 16
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain (Loss), Net 0 (167) 0 (167)
Other, net 4 3 14 11
Total Other Income (Expense) (73) (242) (227) (386)
Income from Continuing Operations Before Income Taxes 525 173 1,459 677
Income Tax (Expense) Benefit (11) (12) (40) (33)
Income from Continuing Operations 514 161 1,419 644
Discontinued operations (Note 2)        
Income from operations of FTC Natural Gas Pipelines disposal group 47 55 145 145
Loss on remeasurement of FTC Natural Gas Pipelines disposal group to fair value (178) 0 (827) 0
Income (Loss) from Discontinued Operations (131) [2] 55 [2] (682) [2] 145 [2]
Net Income 383 216 737 789
Net Income Attributable to Noncontrolling Interests (4) (1) (12) (6)
Net Income Attributable to Kinder Morgan Energy Partners, L.P. 379 215 725 783
Attributable to Kinder Morgan Energy Partners, L.P.:        
Income from Continuing Operations 509 161 1,400 640
Pre-acquisition income from operations of drop-down asset group allocated to General Partner (36) 0 (23) 0
Less: General Partner’s Interest (367) (298) (1,024) (870)
Limited Partners’ Interest 106 (137) 353 (230)
Add: Limited Partners’ Interest in Discontinued Operations (128) 54 (668) 142
Limited Partners’ Interest in Net Loss $ (22) $ (83) $ (315) $ (88)
Limited Partners’ Net Income (Loss) per Unit:        
Income (Loss) from Continuing Operations 0.30 (0.41) 1.02 (0.71)
Income (Loss) from Discontinued Operations (0.36) 0.16 (1.93) 0.44
Net Loss (0.06) (0.25) (0.91) (0.27)
Weighted Average Number of Units Used in Computation of Limited Partners’ Net Income (Loss) per Unit 356 331 345 323
Per Unit Cash Distribution Declared (usd per share) $ 1.26 $ 1.16 $ 3.69 $ 3.45
[1] Nine month 2011 amount includes an $87 million increase in expense allocated to us from KMI and associated with a one-time special cash bonus payment that was paid to non-senior management employees in May 2011; however, we do not have any obligation, nor did we pay any amounts related to this expense.
[2] Represents amounts attributable to our FTC Natural Gas Pipelines disposal group.