Kinder Morgan distributable cash flow up 62% versus Q4 2008
01.22.2010 - NEWS
January 21, 2010 [Kinder Morgan] - Kinder Morgan Energy Partners, L.P. today reported fourth quarter distributable cash flow before certain items of $341.8 million, up 62 percent from $211.0 million for the same period last year.

Distributable cash flow per unit before certain items was $1.17 versus $0.81 per unit for the fourth quarter of 2008. Net income attributable to KMP before certain items was $366.5 million compared to $280.7 million for the same period last year. Including certain items, net income attributable to KMP was $343.8 million versus $266.1 million for the fourth quarter of 2008. Certain items reduced net income by almost $23 million for the quarter, primarily reflecting legal and environmental reserves and hedge ineffectiveness, offset somewhat by insurance reimbursements. KMP declared a cash distribution per common unit of $1.05 ($4.20 annualized) payable on Feb. 12, 2010, to unitholders of record as of Jan. 29, 2010.

For the full year, KMP produced distributable cash flow before certain items of $1.196 billion, up 12 percent from $1.067 billion in 2008. Distributable cash flow per unit before certain items for 2009 was $4.25 versus $4.15 in 2008. Net income attributable to KMP before certain items for the full year was $1.325 billion compared to $1.338 billion in 2008. Including certain items, net income attributable to KMP for 2009 was $1.291 billion compared to $1.305 billion in 2008.

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