Kinder Morgan : First Quarter 2025 2025 TGP First Quarter Report
KMI
Published on 05/23/2025 at 15:39
CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited) (excluding footnotes)
TENNESSEE GAS PIPELINE COMPANY, L.L.C.
As of March 31, 2025 and December 31, 2024 and For the Three Months Ended March 31, 2025 and 2024
TABLE OF CONTENTS
Consolidated Financial Statements (Unaudited)
Page Number
Consolidated Balance Sheets 2
Consolidated Statements of Income 1
Consolidated Statements of Cash Flows 3
Consolidated Statements of Member's Equity 4
CONSOLIDATED STATEMENTS OF INCOME
(In millions, unaudited)
Three Months Ended March 31,
2025
2024
Revenues
$
533
$
473
Operating Costs and Expenses
Operations and maintenance
98
90
Depreciation and amortization
65
62
General and administrative
22
22
Taxes, other than income taxes
30
28
Other income
(1)
(1)
Total Operating Costs and Expenses
214
201
Operating Income
319
272
Other Income (Expense)
Earnings from equity investment
2
2
Interest, net
(28)
(29)
Other, net
8
-
Total Other Expense
(18)
(27)
Net Income
$
301
$
245
March 31,
2025
December 31,
2024
ASSETS
Current assets
Cash and cash equivalents
$ -
$ -
Accounts receivable
188
187
Inventories
64
62
Regulatory assets
19
16
Natural gas imbalance receivable
10
15
Other current assets
5
7
Total current assets
286
287
Property, plant and equipment, net
6,726
6,608
Goodwill
3,250
3,250
Investment
83
83
Regulatory assets
151
153
Deferred charges and other assets
170
173
Total Assets
$ 10,666
$ 10,554
LIABILITIES AND MEMBER'S EQUITY
Current liabilities
Accounts payable
$ 154
$ 173
Accrued interest
33
28
Accrued taxes
47
67
Contractual deposits
20
18
Natural gas imbalance payable
36
13
Other current liabilities
33
25
Total current liabilities
323
324
Long-term liabilities and deferred credits
Long-term debt
2,240
2,240
Debt fair value adjustments
123
128
Other long-term liabilities and deferred credits
112
114
Total long-term liabilities and deferred credits
2,475
2,482
Total Liabilities
2,798
2,806
Member's Equity
Member's equity
7,865
7,745
Accumulated other comprehensive income
3
3
Total Member's Equity
7,868
7,748
Total Liabilities and Member's Equity
$ 10,666
$ 10,554
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions, unaudited)
Three Months Ended March 31,
2025
2024
Cash Flows From Operating Activities
Net income
$ 301
$ 245
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
65
62
Earnings from equity investment
(2)
(2)
Other non-cash items
(7)
(4)
Distributions from equity investment earnings
2
1
Changes in components of working capital:
Accounts receivable
(1)
3
Accounts payable
14
(5)
Accrued interest
5
5
Accrued taxes
(20)
(30)
Other current assets and liabilities
34
14
Other long-term assets and liabilities
(62)
(6)
Net Cash Provided by Operating Activities
329
283
Cash Flows From Investing Activities
Capital expenditures
(144)
(156)
Net change in note receivable from affiliate
-
34
Other, net
(4)
(11)
Net Cash Used in Investing Activities
(148)
(133)
Cash Flows From Financing Activities
Contributions from Member
89
83
Distributions to Member
(270)
(233)
Net Cash Used in Financing Activities
(181)
(150)
Net Change in Cash and Cash Equivalents
-
-
Cash and Cash Equivalents, beginning of period
-
-
Cash and Cash Equivalents, end of period
$ -
$ -
Supplemental Disclosure of Cash Flow Information
Cash paid during the period for interest (net of capitalized interest)
$ 24
$ 25
Three Months Ended March 31,
2025
2024
Beginning Balance
$ 7,748
$ 7,280
Net income
301
245
Contributions
89
83
Distributions
(270)
(233)
Ending Balance
$ 7,868
$ 7,375
Disclaimer
Kinder Morgan Inc. published this content on May 23, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 23, 2025 at 19:38 UTC.