Name: Kinder Morgan Inc. (NYSE:KMI) | Balance Sheet: Assets
Creator: Stock Analysis on Net

Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Assets: Selected Items

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Current Assets: Selected Items

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Kinder Morgan Inc., consolidated balance sheet: assets

US$ in millions

	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015
Cash and cash equivalents	185)	3,280)	264)	684)	229)
Restricted deposits	24)	51)	62)	103)	60)
Marketable securities at fair value	925)	—)	—)	—)	—)
Accounts receivable, net	1,370)	1,498)	1,448)	1,370)	1,315)
Fair value of derivative contracts	84)	260)	114)	198)	507)
Inventories	371)	385)	424)	357)	407)
Other current assets	279)	248)	403)	517)	306)
Current assets	3,238)	5,722)	2,715)	3,229)	2,824)
Property, plant and equipment, net	36,419)	37,897)	40,155)	38,705)	40,547)
Investments	7,759)	7,481)	7,298)	7,027)	6,040)
Goodwill	21,451)	21,965)	22,162)	22,152)	23,790)
Other intangibles, net	2,676)	2,880)	3,099)	3,318)	3,551)
Deferred income taxes	857)	1,566)	2,044)	4,352)	5,323)
Deferred charges and other assets	1,757)	1,355)	1,582)	1,522)	2,029)
Non-current assets	70,919)	73,144)	76,340)	77,076)	81,280)
Total assets	74,157)	78,866)	79,055)	80,305)	84,104)

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).

Total assets exhibit a consistent downward trajectory over the five-year period, declining from 84,104 million US dollars in 2015 to 74,157 million US dollars in 2019. This overall contraction is primarily driven by a steady reduction in non-current assets, which fell from 81,280 million US dollars to 70,919 million US dollars during the same timeframe.

Liquidity and Current Asset Volatility: Current assets demonstrate significant fluctuations, characterized by a substantial peak in 2018 at 5,722 million US dollars before returning to 3,238 million US dollars in 2019. This volatility is largely attributed to the movement in cash and cash equivalents, which surged to 3,280 million US dollars in 2018 from a low of 264 million US dollars in 2017, only to drop sharply to 185 million US dollars by the end of 2019. A diversification of liquid assets is noted in 2019 with the introduction of 925 million US dollars in marketable securities at fair value.
Fixed Asset and Intangible Asset Trajectories: Net property, plant, and equipment show a gradual decline from 40,547 million US dollars in 2015 to 36,419 million US dollars in 2019, suggesting that depreciation and impairments have exceeded new capital expenditures. Similarly, goodwill and other intangible assets have trended downward, with goodwill decreasing from 23,790 million US dollars to 21,451 million US dollars and net intangibles falling from 3,551 million US dollars to 2,676 million US dollars. These patterns indicate a systematic reduction in the carrying value of long-term operational assets.
Strategic Investment and Tax Asset Trends: Contrary to the general decline in assets, investments grew steadily every year, rising from 6,040 million US dollars in 2015 to 7,759 million US dollars in 2019. Conversely, deferred income taxes experienced a sharp and continuous reduction, falling from 5,323 million US dollars in 2015 to 857 million US dollars in 2019, representing a significant contraction in this specific non-current asset category.

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