Analysis of Debt
Total Debt (Carrying Amount)
Kinder Morgan Inc., balance sheet: debt
US$ in millions
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
A consistent downward trajectory in total debt obligations is observed over the five-year period ending December 31, 2019. The overall leverage position improved as the carrying amount of total debt decreased from 43,227 million US dollars in 2015 to 34,392 million US dollars by 2019, representing a cumulative reduction of approximately 20.4%.
- Total Debt Carrying Amount
- Total debt exhibited a year-over-year decline throughout the analyzed period. The most substantial reductions occurred between 2015 and 2017, while the decline moderated in 2018 before accelerating again in 2019.
- Long-term Debt Analysis
- Long-term debt, excluding the current portion, served as the primary driver for the reduction in total liabilities. This component decreased steadily from 42,406 million US dollars in 2015 to 31,915 million US dollars in 2019. The uninterrupted annual decline indicates a systematic reduction of long-term borrowing.
- Current Portion of Debt Trends
- The current portion of debt demonstrated significant volatility and a general upward shift compared to the baseline. A sharp increase occurred between 2015 and 2016, rising from 821 million US dollars to 2,696 million US dollars. This figure peaked in 2018 at 3,388 million US dollars before retreating to 2,477 million US dollars in 2019. These fluctuations suggest changes in the debt maturity profile, with a larger volume of debt shifting into short-term obligations during the mid-period.
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Total Debt (Fair Value)
| Dec 31, 2019 | |
|---|---|
| Selected Financial Data (US$ in millions) | |
| Debt | 38,016) |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | 1.11 |
Based on: 10-K (reporting date: 2019-12-31).
Weighted-average Interest Rate on Debt
Weighted average interest rate on borrowings: 5.27%
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| 5.27% | 33,360) | 1,758) | |
| Total | 33,360) | 1,758) | |
| 5.27% | |||
Based on: 10-K (reporting date: 2019-12-31).
1 US$ in millions
2 Weighted-average interest rate = 100 × 1,758 ÷ 33,360 = 5.27%