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Kinder Morgan Inc. (NYSE:KMI)

This company has been moved to the archive! The financial data has not been updated since April 29, 2020.

Common-Size Balance Sheet: Assets
Quarterly Data

Kinder Morgan Inc., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Cash and cash equivalents 0.49 0.25 0.31 0.28 0.29 4.16 4.37 0.35 0.37 0.33 0.67 0.56 0.50 0.85 0.44 0.21 0.21 0.27 0.21 0.19 0.30
Restricted deposits 0.79 0.03 0.04 0.05 0.06 0.06 0.13 0.10 0.09 0.08 0.10 0.08 0.11 0.13 1.09 0.00 0.00 0.00 0.00 0.00 0.00
Marketable securities at fair value 0.00 1.25 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts receivable, net 1.61 1.85 1.65 1.60 1.72 1.90 1.75 1.73 1.71 1.83 1.49 1.48 1.58 1.71 1.57 1.52 1.43 1.56 1.64 1.58 1.65
Fair value of derivative contracts 0.61 0.11 0.19 0.14 0.07 0.33 0.06 0.12 0.12 0.14 0.22 0.29 0.27 0.25 0.34 0.37 0.54 0.60 0.62 0.47 0.65
Inventories 0.42 0.50 0.53 0.59 0.56 0.49 0.48 0.54 0.56 0.54 0.53 0.55 0.48 0.44 0.40 0.43 0.43 0.48 0.52 0.55 0.53
Deferred income taxes 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.06 0.07 0.06
Other current assets 0.29 0.38 0.36 0.34 0.26 0.31 0.49 0.53 0.48 0.51 0.24 0.44 0.42 0.64 0.28 0.40 0.34 0.44 0.54 0.58 0.63
Current assets 4.21% 4.37% 3.07% 3.00% 2.96% 7.26% 7.29% 3.36% 3.33% 3.43% 3.25% 3.40% 3.35% 4.02% 4.12% 2.93% 2.95% 3.36% 3.58% 3.43% 3.82%
Property, plant and equipment, net 49.02 49.11 49.31 49.34 49.52 48.05 47.80 50.95 51.05 50.79 49.62 49.15 48.91 48.20 47.52 48.86 48.73 48.21 47.40 47.41 46.76
Investments 10.72 10.46 10.90 10.59 10.18 9.49 9.40 9.31 9.39 9.23 9.31 9.28 8.94 8.75 9.02 7.36 7.16 7.18 6.94 7.04 6.98
Goodwill 28.36 28.93 28.55 28.64 28.79 27.85 27.78 28.29 28.04 28.03 27.58 27.63 27.76 27.58 27.16 28.23 28.26 28.29 29.12 29.16 28.91
Other intangibles, net 3.56 3.61 3.55 3.63 3.70 3.65 3.71 3.82 3.85 3.92 3.92 4.00 4.09 4.13 4.15 4.08 4.15 4.22 4.22 4.30 4.37
Deferred income taxes 1.15 1.16 1.72 1.94 2.16 1.99 2.37 2.49 2.39 2.59 4.27 4.51 5.09 5.42 5.63 5.90 6.06 6.33 6.22 6.32 6.44
Deferred charges and other assets 2.99 2.37 2.90 2.87 2.67 1.72 1.64 1.77 1.95 2.00 2.04 2.03 1.85 1.90 2.40 2.64 2.70 2.41 2.52 2.35 2.74
Non-current assets 95.79% 95.63% 96.93% 97.00% 97.04% 92.74% 92.71% 96.64% 96.67% 96.57% 96.75% 96.60% 96.65% 95.98% 95.88% 97.07% 97.05% 96.64% 96.42% 96.57% 96.18%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

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).

The asset structure is characterized by a heavy concentration in non-current assets, which consistently represent between 92.7% and 97.1% of total assets throughout the observed period. This indicates a capital-intensive business model where the vast majority of value is tied up in long-term infrastructure and strategic holdings rather than liquid instruments.

Fixed and Intangible Asset Stability
Property, plant, and equipment, net, serves as the primary asset component, generally fluctuating between 46.7% and 51.1%. A peak in concentration was observed between December 2017 and June 2018, after which the ratio stabilized around 49%. Similarly, goodwill remained a substantial and relatively stable portion of the balance sheet, maintaining a range between 27.1% and 29.1%.
Investment Growth Trends
A consistent upward trajectory is observed in the proportion of total assets held as investments. Starting at 6.98% in March 2015, this figure grew steadily to reach 10.72% by March 2020, suggesting a strategic shift toward increasing the weight of investment holdings within the overall asset mix.
Deferred Income Tax Reduction
There is a pronounced and sustained decline in non-current deferred income taxes. This item decreased from a high of 6.44% in March 2015 to 1.15% by March 2020, representing one of the most significant compositional shifts in the long-term asset portfolio over the five-year period.
Liquidity and Current Asset Volatility
Current assets typically represent a small fraction of the balance sheet, usually ranging from 2.9% to 4.3%. However, a notable anomaly occurred in the second half of 2018, where current assets spiked to approximately 7.2% of total assets. This increase was driven almost exclusively by a surge in cash and cash equivalents, which rose from under 1% to over 4% during that interval before returning to baseline levels in early 2019.
Other Asset Components
Other intangible assets showed a gradual decline from 4.37% to 3.56%. Accounts receivable remained relatively stable, generally fluctuating between 1.4% and 1.9% of total assets, indicating a consistent relationship between revenue recognition and asset scaling.

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