Balance Sheet: Liabilities and Stockholders’ Equity

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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Kinder Morgan Inc., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015
Current portion of debt	2,477)	3,388)	2,828)	2,696)	821)
Accounts payable	914)	1,337)	1,340)	1,257)	1,324)
Distributions payable to KML noncontrolling interests	—)	876)	—)	—)	—)
Accrued interest	548)	579)	621)	625)	695)
Accrued taxes	364)	483)	256)	—)	—)
Other current liabilities	797)	894)	1,136)	1,346)	1,225)
Current liabilities	5,100)	7,557)	6,181)	5,924)	4,065)
Outstanding	30,883)	33,205)	34,088)	36,205)	40,732)
Debt fair value adjustments	1,032)	731)	927)	1,149)	1,674)
Long-term debt, excluding current portion	31,915)	33,936)	35,015)	37,354)	42,406)
Other long-term liabilities and deferred credits	2,253)	2,176)	2,735)	2,225)	2,230)
Long-term liabilities and deferred credits	34,168)	36,112)	37,750)	39,579)	44,636)
Total liabilities	39,268)	43,669)	43,931)	45,503)	48,701)
Redeemable noncontrolling interest	803)	666)	—)	—)	—)
Preferred stock, $0.01 par value, 9.75% Series A Mandatory Convertible, $1,000 per share liquidation preference	—)	—)	—)	—)	—)
Class P shares, $0.01 par value	23)	23)	22)	22)	22)
Additional paid-in capital	41,745)	41,701)	41,909)	41,739)	41,661)
Retained deficit	(7,693)	(7,716)	(7,754)	(6,669)	(6,103)
Accumulated other comprehensive loss	(333)	(330)	(541)	(661)	(461)
Total Kinder Morgan, Inc.’s stockholders’ equity	33,742)	33,678)	33,636)	34,431)	35,119)
Noncontrolling interests	344)	853)	1,488)	371)	284)
Total stockholders’ equity	34,086)	34,531)	35,124)	34,802)	35,403)
Total liabilities, redeemable noncontrolling interest and stockholders’ equity	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).

Current Portion of Debt: There was a significant increase from 821 million USD in 2015 to a peak of 3388 million USD in 2018, followed by a decline to 2477 million USD in 2019. This indicates variability in short-term debt obligations over the period.
Accounts Payable: Accounts payable showed a relatively stable pattern, fluctuating slightly around the 1300 million USD mark from 2015 through 2018, before decreasing to 914 million USD in 2019, suggesting improved payment or lower procurement obligations in the latest year.
Distributions Payable to KML Noncontrolling Interests: This item appeared only in 2018 with a value of 876 million USD and was absent in other years, indicating a one-time or irregular distribution transaction during that year.
Accrued Interest: Accrued interest declined gradually from 695 million USD in 2015 to 548 million USD in 2019, reflecting potentially lower levels of outstanding interest-bearing debt or improved interest management.
Accrued Taxes: Accrued taxes were unavailable prior to 2017, then increased sharply from 256 million USD in 2017 to 483 million USD in 2018, followed by a decrease to 364 million USD in 2019, indicating fluctuations in tax liabilities or reporting timing across these years.
Other Current Liabilities: A general decline occurred from 1225 million USD in 2015 to 797 million USD in 2019, which may reflect reduced miscellaneous current obligations or improved management of such liabilities.
Current Liabilities: Current liabilities overall increased substantially from 4065 million USD in 2015 to 7557 million USD in 2018, then dropped to 5100 million USD in 2019. The trend suggests rising short-term obligations which were partially reduced in the final year observed.
Outstanding Debt: Outstanding debt steadily decreased from 40732 million USD in 2015 to 30883 million USD in 2019, indicating ongoing debt reduction efforts during the period reviewed.
Debt Fair Value Adjustments: Adjustments declined from 1674 million USD in 2015 to a low of 731 million USD in 2018, before rising again to 1032 million USD in 2019, showing some volatility in the valuation of debt relative to carrying amounts.
Long-term Debt, Excluding Current Portion: Long-term debt decreased consistently from 42406 million USD in 2015 to 31915 million USD in 2019, aligning with the overall reduced debt levels observed.
Other Long-term Liabilities and Deferred Credits: These liabilities showed modest fluctuations, ranging between 2225 and 2735 million USD without a clear directional trend over the period.
Long-term Liabilities and Deferred Credits: There was a gradual decline from 44636 million USD in 2015 to 34168 million USD in 2019, consistent with reductions in long-term debt and related obligations.
Total Liabilities: Total liabilities decreased from 48701 million USD in 2015 to 39268 million USD in 2019, reflecting a concerted effort to reduce the company’s overall liabilities.
Redeemable Noncontrolling Interest: Introduced in 2018 at 666 million USD and rising slightly to 803 million USD in 2019, this indicates new or increased redeemable interests by noncontrolling parties in recent years.
Class P Shares: Class P shares remained almost constant throughout, at 22 or 23 million USD, indicating stable equity issuance of this class.
Additional Paid-in Capital: This equity component remained stable around 41,700 million USD, showing no significant capital raising or reductions during the period.
Retained Deficit: Retained deficit deepened from -6103 million USD in 2015 to a low of -7754 million USD in 2017, with slight improvement thereafter, remaining close to -7700 million USD from 2018 to 2019, indicating ongoing accumulated losses impacting equity.
Accumulated Other Comprehensive Loss: The accumulated other comprehensive loss narrowed from -461 million USD in 2015 to -330 million USD in 2018 and slightly increased to -333 million USD in 2019, showing some improvement in other comprehensive loss components.
Total Kinder Morgan, Inc.’s Stockholders’ Equity: Equity reported a slight decline from 35119 million USD in 2015 to 33742 million USD in 2019, reflecting the impact of retained losses and other factors despite stable capital contributions.
Noncontrolling Interests: Noncontrolling interests fluctuated significantly, peaking at 1488 million USD in 2017 before decreasing to 344 million USD in 2019, suggesting changes in ownership interests or consolidation practices.
Total Stockholders’ Equity: Total equity, including noncontrolling interests, declined from 35403 million USD in 2015 to 34086 million USD in 2019, showing moderate erosion over the period.
Total Liabilities, Redeemable Noncontrolling Interest and Stockholders’ Equity: The overall total declined steadily from 84104 million USD in 2015 to 74157 million USD in 2019, reflecting the overall contraction in liabilities and equity combined.

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Kinder Morgan Inc. (NYSE:KMI)

Balance Sheet: Liabilities and Stockholders’ Equity