Common-Size Balance Sheet: Assets
Quarterly Data
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Kinder Morgan Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31).
- Cash and Cash Equivalents
- The percentage of cash and cash equivalents relative to total assets remains generally low throughout the periods, mostly below 1%. A notable surge occurs in the first three quarters of 2018, rising from 0.37% in March 2018 to a peak of 4.37% in September 2018, before declining again towards early 2019 and stabilizing below 0.5%. This spike might indicate a temporary increase in liquidity during that time.
- Restricted Deposits
- This item is absent in earlier periods but appears starting at 1.09% in December 2016, then quickly decreases and fluctuates below 0.1% for subsequent periods until March 2020, where it rises noticeably to 0.79%. Generally, this represents a minor and fluctuating portion of total assets, with a late increase that may warrant further analysis.
- Marketable Securities at Fair Value
- Marketable securities are reported only for March 2020, accounting for 1.25% of total assets, suggesting either a new investment approach or a change in asset classification.
- Accounts Receivable, Net
- This category remains relatively stable over time, fluctuating between roughly 1.4% and 1.9%. Some minor oscillations occur, with a slight upward tendency in late 2017 to 2019, peaking near 1.9% in December 2018 and December 2019. This steadiness suggests consistent credit policies and collection efficiency.
- Fair Value of Derivative Contracts
- The relative size of derivatives declines steadily from 0.65% in March 2015 to a low of 0.06% in September 2018, followed by some recovery reaching 0.61% by March 2020. The initial decline could reflect reduced derivative exposure or marking to market changes, while the later increase might indicate renewed hedging or trading activities.
- Inventories
- Inventory levels remain modest, varying narrowly around 0.4% to 0.6% of total assets. There is a slight upward trend from 2017 to 2019, peaking at 0.59% mid-2019, followed by a decrease to 0.42% in March 2020, indicating stable inventory management with minor fluctuations.
- Deferred Income Taxes (Current and Non-current)
- Current deferred income tax data is sporadic and low when presented. Non-current deferred income taxes show a declining trend from 6.44% in March 2015 down to about 1.15% by March 2020, marked by a steady decrease especially after 2015. This may reflect changes in tax policies or adjustments in asset basis and liabilities.
- Other Current Assets
- These assets show some variability without clear direction, fluctuating mostly between 0.2% and 0.6%. No strong trend is evident, though there is a decline from mid-2018 to early 2019, followed by some stabilization.
- Current Assets
- The share of current assets ranges from about 2.9% to 7.3%, with a remarkable spike during 2018 reaching above 7%, coinciding with the surge in cash and cash equivalents. This indicates a temporary uplift in current asset liquidity or reclassification.
- Property, Plant and Equipment, Net
- This item constitutes the largest portion of total assets, consistently near or above 46%, showing a gradual upward trend from 46.76% in early 2015 to a peak above 51% in late 2017 and early 2018, then stabilizing around 49% by 2020. This reflects continued capital asset investment or revaluation.
- Investments
- Investments steadily increase from about 7% of total assets in early 2015 to over 10% by early 2020. This demonstrates a growing focus or capacity in investment holdings.
- Goodwill
- Goodwill remains a major intangible asset, fluctuating between 27% and 29%, with slight downward movement around 2016, but generally stable through the years. The consistency indicates stable acquisition-related goodwill.
- Other Intangibles, Net
- This category shows a mild declining trend from approximately 4.4% in early 2015 to roughly 3.5% by 2020, suggesting amortization or write-downs of intangible assets over time.
- Deferred Charges and Other Assets
- Values fluctuate between about 1.6% and 2.9%, peaking in early 2019 and again March 2020. These movements may reflect timing of capitalized expenditures or asset disposals.
- Non-current Assets
- Non-current assets consistently represent the vast majority of total assets, typically around 96%, though during 2018 this percentage falls to near 92-93%, coinciding with the spike in current assets. This interrelationship suggests some temporary reallocation between asset categories.
- Total Assets
- Total assets are the base reference and held constant at 100% for all periods.