What does terminals — unrealized gain (loss) on derivatives mean?

The non-cash change in the fair value of derivative contracts held by the terminals segment to hedge against price fluctuations in commodities or interest rates. Since these gains or losses are unrealized, they reflect market volatility rather than actual cash flow from operations. This metric helps isolate the impact of hedging activities on segment earnings.

Kinder Morgan (KMI) Terminals — Unrealized Gain (Loss) on Derivatives

Screener

Other segment segments

Natural Gas Pipelines

$60M-32.6%

CO2

$19M+280%

Products Pipelines

$4M—

Similar metrics at other companies

AMRCEurope — Unrealized Gain (Loss) on Derivatives

$0—

AMRCAll Other — Unrealized Gain (Loss) on Derivatives

$0—

AMRCRenewable Fuels — Unrealized Gain (Loss) on Derivatives

-$150K+59.7%

AMRCU.S. Federal — Unrealized Gain (Loss) on Derivatives

$160K+129%

KNTKMidstream Logistics — Unrealized Gain (Loss) on Derivatives

$46.99M+159%

KNTKPipeline Transportation — Unrealized Gain (Loss) on Derivatives

$0—

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/S4×+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 / equity1×0.0×

Current ratio0.5×-0.2×

Where this comes from

Reported directly by Kinder Morgan in its filing.

Tagged under the XBRL concept us-gaap:UnrealizedGainLossOnDerivatives.

The source filing: Kinder Morgan’s 10-Q, filed July 24, 2026.

Filed: Jul 24, 2026, 4:06 PM EDT
Fiscal quarter: Q2 FY2026
Calendar quarter: Q2 2026
Accession: 0001506307-26-000085

(c)Includes non-cash risk management activities amounts for the three and six months ended June 30, 2026 of $60 million and $(15) million, $4 million and $(1) million, $1 million and none, and $19 million and $(2) million, respectively, for our Natural Gas Pipelines, Products Pipelines, Terminals, and CO2 business segments, respectively.

Item 1. Financial Statements (Unaudited)

FAQ

What is Kinder Morgan's terminals — unrealized gain (loss) on derivatives?: Kinder Morgan (KMI) reported terminals — unrealized gain (loss) on derivatives of $1M in Q2 2026.
What does terminals — unrealized gain (loss) on derivatives mean?: The non-cash change in the fair value of derivative contracts held by the terminals segment to hedge against price fluctuations in commodities or interest rates. Since these gains or losses are unrealized, they reflect market volatility rather than actual cash flow from operations. This metric helps isolate the impact of hedging activities on segment earnings.