EX-11 4 km-ex11form10q_1187021.txt COMPUTATION OF EARNINGS PER SHARE KINDER MORGAN ENERGY PARTNERS, L.P. AND SUBSIDIARIES EXHIBIT 11 - STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS (Dollars In Thousands Except Per Unit Amounts) FOR THE THREE MONTHS ENDED MARCH 31, 2005 2004 ================================================================================ Weighted-average number of limited partners' units on which limited partners' net income per unit is based: Basic 207,527,852 192,512,217 Add: Incremental units under common unit option plan 55,669 89,401 -------------------------------------------------------------------------------- Assuming dilution 207,583,521 192,601,618 ================================================================================ Net Income $ 223,621 $ 191,754 -------------------------------------------------------------------------------- Less: General Partner's interest in Net Income (111,727) (91,664) -------------------------------------------------------------------------------- Limited Partners' interest in Net Income $ 111,894 $ 100,090 ================================================================================ Limited Partners' Net Income per unit: Basic $ .54 $ .52 Diluted $ .54 $ .52