Kinder Morgan KMI Business Segments
| TTM Q1 '26 | TTM Q4 '25 | TTM Q3 '25 | TTM Q2 '25 | TTM Q1 '25 | ||
|---|---|---|---|---|---|---|
| Costs of sales (exclusive of items shown separately below) by Business | ||||||
| CO2 | $95M+1.1% | $94M+3.3% | $91M+1.1% | $90M+2.3% | $88M+7.3% | |
| Natural Gas Pipelines | $4.59B+6.7% | $4.3B+7.7% | $3.99B+11.6% | $3.57B+9.9% | $3.25B+14.6% | |
| Products Pipelines | $1.1B-1.1% | $1.11B-8.3% | $1.21B-3.5% | $1.26B-6.1% | $1.34B-4.0% | |
| Terminals | $51M+2.0% | $50M0.0% | $50M+2.0% | $49M+4.3% | $47M+11.9% | |
| Derivatives adjustments on commodity sales by Business | ||||||
| CO2 | $2M-93.3% | $30M+1,100% | -$3M+84.2% | -$19M+69.8% | -$63M+25.9% | |
| Natural Gas Pipelines | $111M+15.6% | $96M+71.4% | $56M-22.2% | $72M+5.9% | $68M-39.8% | |
| Products Pipelines | -$1M— | $0— | $0— | $0— | $0+100% | |
| Terminals | $0— | $0— | $0— | $0— | $0— | |
| Revenue Not from Contract with Customer by Business | ||||||
| Co2 | $86M-25.2% | $115M+33.7% | $86M+19.4% | $72M+157% | $28M+1,300% | |
| Natural Gas Pipelines | $675M+3.1% | $655M+7.2% | $611M-2.6% | $627M+0.8% | $622M-13.2% | |
| Products Pipelines | $216M-0.9% | $218M-2.2% | $223M-2.2% | $228M+0.9% | $226M-2.6% | |
| Terminals | $756M+1.2% | $747M+1.9% | $733M+2.7% | $714M+3.8% | $688M+3.3% | |
| Revenues from customers by Business | ||||||
| Co2 | $1.16B-0.6% | $1.17B-0.3% | $1.17B-3.1% | $1.21B-1.3% | $1.23B+0.8% | |
| Natural Gas Pipelines | $11.55B+4.9% | $11.01B+5.8% | $10.4B+5.0% | $9.9B+5.8% | $9.36B+4.7% | |
| Products Pipelines | $2.71B+0.9% | $2.69B-3.1% | $2.77B-1.2% | $2.81B-2.9% | $2.89B-2.2% | |
| Terminals | $2.15B+2.2% | $2.1B+0.8% | $2.09B+1.0% | $2.07B+1.2% | $2.04B+1.1% | |
| Net Income by Business | ||||||
| CO2 | $599M-2.1% | $612M-1.9% | $624M-5.3% | $659M-7.8% | $715M+3.3% | |
| Natural Gas Pipelines | $6.34B+4.2% | $6.08B+7.2% | $5.67B+1.7% | $5.58B+3.9% | $5.37B-1.1% | |
| Products Pipelines | $1.2B+4.1% | $1.16B+0.4% | $1.15B+0.9% | $1.14B-1.0% | $1.15B-1.6% | |
| Terminals | $1.2B+4.7% | $1.14B+1.2% | $1.13B+0.5% | $1.12B+1.7% | $1.11B+0.5% | |
| Earnings from equity investments by Business | ||||||
| CO2 | $25M+8.7% | $23M0.0% | $23M-4.2% | $24M-7.7% | $26M-3.7% | |
| Natural Gas Pipelines | $846M+3.5% | $817M+4.1% | $785M+5.1% | $747M+1.4% | $737M-1.5% | |
| Products Pipelines | $60M+3.4% | $58M0.0% | $58M-4.9% | $61M+5.2% | $58M+1.8% | |
| Taxes, other than income taxes by Business | ||||||
| CO2 | $49M-3.9% | $51M-1.9% | $52M-8.8% | $57M-3.4% | $59M-1.7% | |
| Natural Gas Pipelines | $294M+2.4% | $287M+1.8% | $282M+2.2% | $276M+1.5% | $272M+1.1% | |
| Products Pipelines | $43M-4.4% | $45M+4.7% | $43M-2.3% | $44M0.0% | $44M+2.3% | |
| Terminals | $54M-1.8% | $55M0.0% | $55M+5.8% | $52M0.0% | $52M-1.9% | |
| Total Assets by Business | ||||||
| Co2 | $14.34B-0.7% | $14.44B+0.2% | $14.41B-0.1% | $14.42B+0.7% | $14.33B+1.0% | |
| Natural Gas Pipelines | $208.55B+0.8% | $206.92B+1.0% | $204.78B+0.8% | $203.08B+0.9% | $201.32B+0.8% | |
| Products Pipelines | $33.18B-1.6% | $33.72B-1.7% | $34.31B-0.3% | $34.43B-0.4% | $34.55B-0.4% | |
| Terminals | $31.7B-0.4% | $31.84B-0.5% | $32.01B-0.5% | $32.18B-0.6% | $32.37B-0.6% | |
| Other Cost and Expense, Operating by Business | ||||||
| Co2 | $246M+1.7% | $242M-2.8% | $249M+4.2% | $239M+0.8% | $237M-1.7% | |
| Natural Gas Pipelines | $909M+0.9% | $901M+1.6% | $887M+0.1% | $886M+2.1% | $868M+1.6% | |
| Products Pipelines | $201M-3.8% | $209M+3.0% | $203M-1.9% | $207M+4.0% | $199M+3.1% | |
| Terminals | $555M-0.5% | $558M+0.9% | $553M-1.3% | $560M-0.5% | $563M+0.9% | |
| Salary and Wage, Excluding Cost of Good and Service Sold by Business | ||||||
| CO2 | $54M+1.9% | $53M+3.9% | $51M+2.0% | $50M+2.0% | $49M-2.0% | |
| Natural Gas Pipelines | $337M+1.8% | $331M0.0% | $331M+0.9% | $328M+1.2% | $324M+0.6% | |
| Products Pipelines | $134M+1.5% | $132M0.0% | $132M+1.5% | $130M+0.8% | $129M+0.8% | |
| Terminals | $281M-0.4% | $282M+1.8% | $277M0.0% | $277M+0.4% | $276M+1.1% | |
| Capital Expenditures by Business | ||||||
| CO2 | $294M-10.4% | $328M-10.1% | $365M-5.4% | $386M+6.0% | $364M+5.2% | |
| Natural Gas Pipelines | $2.21B+5.6% | $2.09B+4.5% | $2B+8.5% | $1.85B+3.3% | $1.79B+8.0% | |
| Products Pipelines | $199M-17.8% | $242M-2.4% | $248M0.0% | $248M+2.9% | $241M+14.8% | |
| Terminals | $320M-1.8% | $326M-0.3% | $327M-0.3% | $328M-7.6% | $355M-7.8% | |
| Depreciation, depletion, and amortization by Business | ||||||
| Co2 | $399M+5.6% | $378M+2.7% | $368M+3.1% | $357M-0.3% | $358M+1.1% | |
| Natural Gas Pipelines | $1.18B+0.9% | $1.17B+1.6% | $1.15B+1.6% | $1.14B+1.7% | $1.12B+1.1% | |
| Products Pipelines | $346M-3.4% | $358M-3.2% | $370M-2.4% | $379M+1.9% | $372M+1.9% | |
| Terminals | $520M+0.4% | $518M0.0% | $518M+0.8% | $514M+0.8% | $510M+0.4% | |
| Fuel and power by Business | ||||||
| CO2 | $134M-5.0% | $141M+0.7% | $140M-7.9% | $152M+1.3% | $150M-2.0% | |
| Natural Gas Pipelines | $94M+8.0% | $87M+10.1% | $79M+6.8% | $74M+1.4% | $73M-1.4% | |
| Products Pipelines | $89M-1.1% | $90M-2.2% | $92M-1.1% | $93M0.0% | $93M+1.1% | |
| Terminals | $19M-5.0% | $20M0.0% | $20M-4.8% | $21M0.0% | $21M+5.0% | |
| Investments by Business | ||||||
| Co2 | $273M-1.4% | $277M-2.5% | $284M— | —— | —— | |
| Natural Gas Pipelines | $28.47B-0.7% | $28.67B-1.0% | $28.96B— | —— | —— | |
| Products Pipelines | $1.54B-0.6% | $1.55B-0.4% | $1.56B— | —— | —— | |
| Terminals | $498M-2.0% | $508M-1.9% | $518M— | —— | —— | |
| Leasing services by Business | ||||||
| CO2 | $70M0.0% | $70M-1.4% | $71M-1.4% | $72M+1.4% | $71M+7.6% | |
| Natural Gas Pipelines | $453M-0.4% | $455M0.0% | $455M0.0% | $455M-0.2% | $456M-0.7% | |
| Products Pipelines | $191M-0.5% | $192M-3.5% | $199M-2.0% | $203M+1.0% | $201M-3.8% | |
| Terminals | $756M+1.2% | $747M+1.9% | $733M+2.7% | $714M+3.8% | $688M+3.3% | |
| Other by Business | ||||||
| CO2 | $14M-6.7% | $15M-16.7% | $18M-5.3% | $19M-5.0% | $20M-4.8% | |
| Natural Gas Pipelines | $111M+6.7% | $104M+4.0% | $100M0.0% | $100M+2.0% | $98M-32.4% | |
| Products Pipelines | $26M0.0% | $26M+8.3% | $24M-4.0% | $25M0.0% | $25M+4.2% | |
| Terminals | $0— | $0— | $0— | $0— | $0— | |
| Other intangibles, net by Business | ||||||
| CO2 | $1.68B-2.6% | $1.72B-2.5% | $1.77B— | —— | —— | |
| Natural Gas Pipelines | $3.4B+1.6% | $3.35B+6.8% | $3.13B— | —— | —— | |
| Products Pipelines | $1.88B-9.1% | $2.07B-8.6% | $2.26B— | —— | —— | |
| Terminals | $52M-5.5% | $55M-8.3% | $60M— | —— | —— | |
| Segment Reporting, Other Segment Item, Amount by Business | ||||||
| CO2 | -$6M— | $0+100% | -$1M0.0% | -$1M+97.5% | -$40M+2.4% | |
| Natural Gas Pipelines | -$160M-0.6% | -$159M-261% | -$44M+2.2% | -$45M-45.2% | -$31M+47.5% | |
| Products Pipelines | -$1M0.0% | -$1M+66.7% | -$3M0.0% | -$3M-50.0% | -$2M0.0% | |
| Terminals | -$7M-16.7% | -$6M-200% | -$2M+75.0% | -$8M+38.5% | -$13M+18.8% | |
| Unrealized Gain (Loss) on Derivatives by Business | ||||||
| CO2 | -$16M-500% | $4M— | $0-100% | $9M+80.0% | $5M+350% | |
| Natural Gas Pipelines | $42M+13.5% | $37M+176% | -$49M-113% | -$23M+80.2% | -$116M-54.7% | |
| Products Pipelines | -$5M-400% | -$1M— | —— | —— | —— | |
| Revenues from customers by Product | ||||||
| Feebasedservices | $2.76B+1.4% | $2.72B+2.1% | $2.66B+1.0% | $2.64B+0.3% | $2.63B+1.1% | |
| Firm Services | $5.46B+2.2% | $5.34B+2.1% | $5.23B+1.7% | $5.15B+2.2% | $5.04B+1.6% | |
| Natural Gas Sales | $4.41B+11.6% | $3.95B+12.4% | $3.51B+12.6% | $3.12B+15.3% | $2.71B+15.6% | |
| Other sales | $135M+4.7% | $129M+4.9% | $123M-3.1% | $127M+1.6% | $125M+21.4% | |
| Product Other Than Natural Gas | $3.03B-1.1% | $3.06B-5.2% | $3.23B-2.0% | $3.3B-4.2% | $3.44B-1.3% |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Kinder Morgan break its business down?
- Kinder Morgan (KMI) reports costs of sales (exclusive of items shown separately below) by business across 4 parts — CO2, Natural Gas Pipelines, Products Pipelines and Terminals. Each is extracted from the segment footnotes and tracked over time.
- Where does Kinder Morgan's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Kinder Morgan's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
