Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Kinder Morgan Inc., consolidated cash flow statement

US$ in millions

12 months ended:	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015
Net income	2,239)	1,919)	223)	721)	208)
Depreciation, depletion and amortization	2,411)	2,297)	2,261)	2,209)	2,309)
Deferred income taxes	717)	405)	2,073)	1,087)	692)
Amortization of excess cost of equity investments	83)	95)	61)	59)	51)
Change in fair market value of derivative contracts	(22)	77)	40)	—)	—)
Loss on impairment of goodwill	—)	—)	—)	—)	1,150)
(Gain) loss on divestitures and impairments, net	(942)	167)	13)	387)	919)
(Earnings) losses from equity investments	(101)	(617)	(428)	113)	(384)
Adjustments to reconcile net income to net cash provided by operating activities	2,146)	2,424)	4,020)	3,855)	4,737)
Distributions of equity investment earnings	590)	499)	426)	431)	391)
Accounts receivable, net	105)	(50)	(78)	(107)	382)
Income tax receivable	—)	137)	7)	(148)	195)
Inventories	4)	15)	(90)	49)	34)
Other current assets	93)	(16)	(25)	(81)	113)
Accounts payable	(198)	21)	73)	144)	(156)
Accrued interest, net of interest rate swaps	(43)	(22)	10)	(18)	37)
Accrued taxes	(142)	241)	(37)	—)	—)
Accrued contingencies and other current liabilities	(69)	73)	138)	71)	(129)
Changes in components of working capital, net of the effects of acquisitions and dispositions	(250)	399)	(2)	(90)	476)
Other, net	23)	(198)	(66)	(130)	(509)
Net cash provided by operating activities	4,748)	5,043)	4,601)	4,787)	5,303)
Proceeds from the KML and U.S. Cochin Sale, net of cash disposed	1,527)	—)	—)	—)	—)
Proceeds from the TMPL Sale, net of cash disposed and working capital adjustments	(28)	2,998)	—)	—)	—)
Acquisitions of assets and investments	(79)	(39)	(4)	(333)	(2,079)
Capital expenditures	(2,270)	(2,904)	(3,188)	(2,882)	(3,896)
Proceeds from sale of equity interests in subsidiaries, net	—)	—)	—)	1,401)	—)
Sales of property, plant and equipment, investments, and other net assets, net of removal costs	110)	104)	118)	330)	39)
Contributions to investments	(1,299)	(433)	(684)	(408)	(96)
Distributions from equity investments in excess of cumulative earnings	333)	237)	374)	231)	228)
Loans to related parties	(31)	(31)	—)	—)	—)
Other, net	23)	—)	22)	(44)	98)
Net cash used in investing activities	(1,714)	(68)	(3,362)	(1,705)	(5,706)
Issuances of debt	8,036)	14,751)	8,868)	8,629)	14,316)
Payments of debt	(11,224)	(14,591)	(11,064)	(10,060)	(15,116)
Debt issue costs	(10)	(42)	(70)	(19)	(24)
Issuances of common shares	—)	—)	—)	—)	3,870)
Issuance of mandatory convertible preferred stock	—)	—)	—)	—)	1,541)
Cash dividends, common shares	(2,163)	(1,618)	(1,120)	(1,118)	(4,224)
Cash dividends, preferred shares	—)	(156)	(156)	(154)	—)
Repurchases of common shares	(2)	(273)	(250)	—)	(12)
Merger Transactions costs	—)	—)	—)	—)	(2)
Contributions from investment partner	148)	181)	485)	—)	—)
Contributions from noncontrolling interests, net proceeds from KML IPO	—)	—)	1,245)	—)	—)
Contributions from noncontrolling interests, net proceeds from KML preferred share issuances	—)	—)	420)	—)	—)
Contributions from noncontrolling interests, other	3)	19)	12)	117)	11)
Distributions to investment partner	(11)	—)	—)	—)	—)
Distribution to noncontrolling interests, KML distribution of the TMPL Sale proceeds	(879)	—)	—)	—)	—)
Distributions to noncontrolling interests, other	(55)	(78)	(42)	(24)	(34)
Other, net	(28)	(17)	(9)	—)	1)
Net cash provided by (used in) financing activities	(6,185)	(1,824)	(1,681)	(2,629)	327)
Effect of exchange rate changes on cash, cash equivalents and restricted deposits	29)	(146)	22)	2)	(10)
Net increase (decrease) in cash, cash equivalents and restricted deposits	(3,122)	3,005)	(420)	455)	(86)
Cash, cash equivalents, and restricted deposits, beginning of period	3,331)	326)	684)	229)	315)
Cash, cash equivalents, and restricted deposits, end of period	209)	3,331)	264)	684)	229)

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).

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Cash flow statement item	Description	The company
Net cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	Kinder Morgan Inc. net cash provided by operating activities increased from 2017 to 2018 but then slightly decreased from 2018 to 2019 not reaching 2017 level.
Net cash used in investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	Kinder Morgan Inc. net cash used in investing activities increased from 2017 to 2018 but then slightly decreased from 2018 to 2019.
Net cash provided by (used in) financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	Kinder Morgan Inc. net cash provided by (used in) financing activities decreased from 2017 to 2018 and from 2018 to 2019.

Kinder Morgan Inc. (NYSE:KMI)

Cash Flow Statement