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+8.0% | $94M+14.6% | $91M+13.4% | $90M+14.6% | $88M+11.7% | |
| Natural Gas Pipelines | $4.59B+41.0% | $4.3B+51.5% | $3.99B+43.2% | $3.57B+22.1% | $3.25B+2.4% | |
| Products Pipelines | $1.1B-17.8% | $1.11B-20.2% | $1.21B-16.0% | $1.26B-17.1% | $1.34B-13.1% | |
| Terminals | $51M+8.5% | $50M+19.0% | $50M+30.7% | $49M+27.3% | $47M+35.3% | |
| Derivatives adjustments on commodity sales by Business | ||||||
| CO2 | $2M+103% | $30M+135% | -$3M+96.8% | -$19M+85.9% | -$63M+47.1% | |
| Natural Gas Pipelines | $111M+63.2% | $96M-15.0% | $56M-67.1% | $72M-61.1% | $68M-69.1% | |
| Products Pipelines | -$1M— | $0+100% | $0— | $0+100% | $0— | |
| Terminals | $0— | $0— | $0— | $0— | $0— | |
| Revenue Not from Contract with Customer by Business | ||||||
| Co2 | $86M+207% | $115M+5,650% | $86M+960% | $72M+236% | $28M+164% | |
| Natural Gas Pipelines | $675M+8.5% | $655M-8.6% | $611M-23.4% | $627M-22.5% | $622M-26.1% | |
| Products Pipelines | $216M-4.4% | $218M-6.0% | $223M-3.9% | $228M-0.4% | $226M-1.7% | |
| Terminals | $756M+9.9% | $747M+12.2% | $733M+11.9% | $714M+10.0% | $688M+6.2% | |
| Revenues from customers by Business | ||||||
| Co2 | $1.16B-5.1% | $1.17B-3.8% | $1.17B-5.4% | $1.21B-3.1% | $1.23B-1.5% | |
| Natural Gas Pipelines | $11.55B+23.4% | $11.01B+23.1% | $10.4B+16.3% | $9.9B+9.5% | $9.36B+3.6% | |
| Products Pipelines | $2.71B-6.2% | $2.69B-9.1% | $2.77B-8.1% | $2.81B-11.4% | $2.89B-7.5% | |
| Terminals | $2.15B+5.2% | $2.1B+4.1% | $2.09B+4.6% | $2.07B+4.3% | $2.04B+4.7% | |
| Net Income by Business | ||||||
| CO2 | $599M-16.2% | $612M-11.6% | $624M-12.5% | $659M-6.7% | $715M+5.9% | |
| Natural Gas Pipelines | $6.34B+18.1% | $6.08B+12.0% | $5.67B+5.3% | $5.58B+5.7% | $5.37B+1.2% | |
| Products Pipelines | $1.2B+4.3% | $1.16B-1.4% | $1.15B-0.1% | $1.14B-3.7% | $1.15B-1.4% | |
| Terminals | $1.2B+8.3% | $1.14B+4.0% | $1.13B+4.2% | $1.12B+4.6% | $1.11B+4.7% | |
| Earnings from equity investments by Business | ||||||
| CO2 | $25M-3.8% | $23M-14.8% | $23M-10.7% | $24M-2.0% | $26M+7.2% | |
| Natural Gas Pipelines | $846M+14.8% | $817M+9.2% | $785M+5.7% | $747M-1.1% | $737M-3.8% | |
| Products Pipelines | $60M+3.4% | $58M+1.8% | $58M+39.8% | $61M+154% | $58M+452% | |
| Taxes, other than income taxes by Business | ||||||
| CO2 | $49M-16.9% | $51M-15.0% | $52M-11.5% | $57M+2.7% | $59M+6.8% | |
| Natural Gas Pipelines | $294M+8.1% | $287M+6.7% | $282M+5.4% | $276M+2.6% | $272M+2.4% | |
| Products Pipelines | $43M-2.3% | $45M+4.7% | $43M-1.1% | $44M+2.3% | $44M+3.5% | |
| Terminals | $54M+3.8% | $55M+3.8% | $55M+0.5% | $52M-6.3% | $52M-5.9% | |
| Total Assets by Business | ||||||
| Co2 | $14.34B+0.1% | $14.44B+1.8% | $14.41B+2.3% | $14.42B+3.4% | $14.33B+3.0% | |
| Natural Gas Pipelines | $208.55B+3.6% | $206.92B+3.6% | $204.78B+2.8% | $203.08B+3.1% | $201.32B+3.4% | |
| Products Pipelines | $33.18B-4.0% | $33.72B-2.8% | $34.31B-1.5% | $34.43B-2.0% | $34.55B-2.1% | |
| Terminals | $31.7B-2.1% | $31.84B-2.3% | $32.01B-2.2% | $32.18B-2.1% | $32.37B-1.9% | |
| Other Cost and Expense, Operating by Business | ||||||
| Co2 | $246M+3.8% | $242M+0.4% | $249M+7.8% | $239M+1.7% | $237M+2.6% | |
| Natural Gas Pipelines | $909M+4.7% | $901M+5.5% | $887M+7.4% | $886M+12.1% | $868M+11.6% | |
| Products Pipelines | $201M+1.0% | $209M+8.3% | $203M+3.4% | $207M+11.0% | $199M+10.1% | |
| Terminals | $555M-1.4% | $558M0.0% | $553M+0.6% | $560M+3.4% | $563M+5.0% | |
| Salary and Wage, Excluding Cost of Good and Service Sold by Business | ||||||
| CO2 | $54M+10.2% | $53M+6.0% | $51M+1.5% | $50M-1.0% | $49M-1.5% | |
| Natural Gas Pipelines | $337M+4.0% | $331M+2.8% | $331M+5.4% | $328M+6.5% | $324M+6.9% | |
| Products Pipelines | $134M+3.9% | $132M+3.1% | $132M+5.4% | $130M+5.3% | $129M+6.0% | |
| Terminals | $281M+1.8% | $282M+3.3% | $277M+3.2% | $277M+5.7% | $276M+7.2% | |
| Capital Expenditures by Business | ||||||
| CO2 | $294M-19.2% | $328M-5.2% | $365M+9.4% | $386M+19.7% | $364M+5.4% | |
| Natural Gas Pipelines | $2.21B+23.7% | $2.09B+26.5% | $2B+38.0% | $1.85B+35.6% | $1.79B+33.8% | |
| Products Pipelines | $199M-17.4% | $242M+15.2% | $248M+18.5% | $248M+17.3% | $241M+11.7% | |
| Terminals | $320M-9.9% | $326M-15.3% | $327M-16.5% | $328M-20.6% | $355M-13.5% | |
| Depreciation, depletion, and amortization by Business | ||||||
| Co2 | $399M+11.5% | $378M+6.8% | $368M+6.3% | $357M+4.8% | $358M+7.6% | |
| Natural Gas Pipelines | $1.18B+5.9% | $1.17B+6.2% | $1.15B+6.2% | $1.14B+6.1% | $1.12B+5.8% | |
| Products Pipelines | $346M-7.0% | $358M-1.9% | $370M+2.6% | $379M+4.6% | $372M+2.1% | |
| Terminals | $520M+2.0% | $518M+2.0% | $518M+3.3% | $514M+3.1% | $510M+2.7% | |
| Fuel and power by Business | ||||||
| CO2 | $134M-10.7% | $141M-7.8% | $140M-9.8% | $152M+12.2% | $150M+8.9% | |
| Natural Gas Pipelines | $94M+28.8% | $87M+17.6% | $79M+2.9% | $74M-5.7% | $73M-7.9% | |
| Products Pipelines | $89M-4.3% | $90M-2.2% | $92M+2.2% | $93M+8.1% | $93M+8.1% | |
| Terminals | $19M-9.5% | $20M0.0% | $20M+1.3% | $21M+7.7% | $21M+9.1% | |
| Investments by Business | ||||||
| Co2 | $273M— | $277M— | $284M— | —— | —— | |
| Natural Gas Pipelines | $28.47B— | $28.67B— | $28.96B— | —— | —— | |
| Products Pipelines | $1.54B— | $1.55B— | $1.56B— | —— | —— | |
| Terminals | $498M— | $508M— | $518M— | —— | —— | |
| Leasing services by Business | ||||||
| CO2 | $70M-1.4% | $70M+6.1% | $71M+12.7% | $72M+22.0% | $71M+34.0% | |
| Natural Gas Pipelines | $453M-0.7% | $455M-0.9% | $455M-1.5% | $455M-2.6% | $456M-3.6% | |
| Products Pipelines | $191M-5.0% | $192M-8.1% | $199M-3.9% | $203M-1.9% | $201M-2.4% | |
| Terminals | $756M+9.9% | $747M+12.2% | $733M+11.9% | $714M+10.0% | $688M+6.2% | |
| Other by Business | ||||||
| CO2 | $14M-30.0% | $15M-28.6% | $18M-14.3% | $19M-17.4% | $20M-9.1% | |
| Natural Gas Pipelines | $111M+13.3% | $104M-28.3% | $100M-39.8% | $100M-36.3% | $98M-34.2% | |
| Products Pipelines | $26M+4.0% | $26M+8.3% | $24M-4.0% | $25M+4.2% | $25M+4.2% | |
| Terminals | $0— | $0— | $0— | $0— | $0— | |
| Other intangibles, net by Business | ||||||
| CO2 | $1.68B— | $1.72B— | $1.77B— | —— | —— | |
| Natural Gas Pipelines | $3.4B— | $3.35B— | $3.13B— | —— | —— | |
| Products Pipelines | $1.88B— | $2.07B— | $2.26B— | —— | —— | |
| Terminals | $52M— | $55M— | $60M— | —— | —— | |
| Segment Reporting, Other Segment Item, Amount by Business | ||||||
| CO2 | -$6M+85.0% | $0+100% | -$1M+97.6% | -$1M+97.6% | -$40M-3,900% | |
| Natural Gas Pipelines | -$160M-416% | -$159M-169% | -$44M+17.8% | -$45M+19.6% | -$31M+53.4% | |
| Products Pipelines | -$1M+50.0% | -$1M+50.0% | -$3M-500% | -$3M-300% | -$2M-189% | |
| Terminals | -$7M+46.2% | -$6M+62.5% | -$2M+89.2% | -$8M+46.7% | -$13M-36.8% | |
| Unrealized Gain (Loss) on Derivatives by Business | ||||||
| CO2 | -$16M-420% | $4M+300% | $0— | $9M+200% | $5M+145% | |
| Natural Gas Pipelines | $42M+136% | $37M+149% | -$49M-3,367% | -$23M-228% | -$116M-321% | |
| Products Pipelines | -$5M— | -$1M— | —— | —— | —— | |
| Revenues from customers by Product | ||||||
| Feebasedservices | $2.76B+5.0% | $2.72B+4.7% | $2.66B+1.4% | $2.64B+0.9% | $2.63B+2.7% | |
| Firm Services | $5.46B+8.4% | $5.34B+7.8% | $5.23B+8.5% | $5.15B+9.3% | $5.04B+8.7% | |
| Natural Gas Sales | $4.41B+62.9% | $3.95B+68.8% | $3.51B+52.6% | $3.12B+27.6% | $2.71B+9.2% | |
| Other sales | $135M+8.0% | $129M+25.2% | $123M+35.9% | $127M+78.9% | $125M+110% | |
| Product Other Than Natural Gas | $3.03B-11.9% | $3.06B-12.1% | $3.23B-10.1% | $3.3B-14.5% | $3.44B-11.1% |
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.
