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Kinder Morgan KMI Terminals — Goodwill, Impaired, Accumulated Impairment Loss

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Natural Gas Pipelines
$4.24B0.0%
Products Pipelines
$1.27B0.0%
CO2
$600M0.0%

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Other financials

Income statement

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Revenue$4.5B+10.8%
Gross profit$3.1B+8.5%
Operating income$1.3B+16.8%
Net income$867.0M+21.3%
EPS (diluted)$0.39+21.9%

Balance sheet

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Cash & equivalents$89.0M+8.5%
Total debt$32.2B+1.2%
Total equity$31.6B+2.8%
Total assets$74.1B+2.3%

Cash flow

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Operating cash flow$2.0B+18.9%
CapEx$982.0M+51.8%
Free cash flow$978.0M-2.4%

Valuation

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Market cap$71.66B+14.0%
Enterprise value$103.82B+9.7%
P/E20.7×-2.4×
P/S+0.1×

Profitability

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Gross margin66.6%-2.4pp
Operating margin29%+1.4pp
Net margin19.3%+2.2pp
FCF margin17.6%+0.5pp

Returns & leverage

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Return on equity11.1%+2.2pp
Debt / equity0.0×
Current ratio0.5×-0.2×

Where this comes from

Reported directly by Kinder Morgan in its filing.

Tagged under the XBRL concept us-gaap:GoodwillImpairedAccumulatedImpairmentLoss.

The source filing: Kinder Morgan’s 10-K, filed February 13, 2026.

Filed
Feb 13, 2026, 4:11 PM EST
Fiscal year
FY2025
Accession
0001506307-26-000011
Line itemNatural Gas PipelinesProducts PipelinesTerminalsCO2Total
January 1, 2024$16,748$1,529$802$1,042$20,121
Acquisition(a)(28)(28)
Divestiture(b)(9)(9)
December 31, 2024 and 2025$16,720$1,529$802$1,033$20,084
Accumulated impairment losses as of December 31, 2025(c)$(4,240)$(1,267)$(679)$(600)$(6,786)

Item 8. Financial Statements and Supplementary Data.

FAQ

What is Kinder Morgan's terminals — goodwill, impaired, accumulated impairment loss?
Kinder Morgan (KMI) reported terminals — goodwill, impaired, accumulated impairment loss of $679M in Q4 2025.
What does terminals — goodwill, impaired, accumulated impairment loss mean?
This represents the cumulative total of impairment losses recognized against the goodwill of the terminals segment. It reflects management's assessment that the carrying value of the segment's goodwill exceeds its recoverable fair value. This metric highlights historical challenges in achieving expected returns on past terminal acquisitions.

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