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KINDER MORGAN, INC.

For the period ended Sep 30, 2026. Filed Oct 23, 2026.

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About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2026 · Filed Oct 23, 2026

KMI$29.96-0.8%Stored close · as of Nov 6, 2026
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2026

or

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission file number:001-35081

KINDER MORGAN, INC.

(Exact name of registrant as specified in its charter)

Delaware80-0682103
(State or other jurisdiction ofincorporation or organization)(I.R.S. EmployerIdentification No.)

1001 Louisiana Street, Suite 1000, Houston, Texas 77002

(Address of principal executive offices)(zip code)

Registrant’s telephone number, including area code:713-369-9000

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
Class P Common StockKMINew York Stock Exchange
2.250% Senior Notes due 2027KMI 27 ANew York Stock Exchange

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes þ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “non-accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer þ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company☐ Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐ Noþ

As of October 22, 2026, the registrant had 2,227,715,229 shares of Class P common stock outstanding.

TABLE OF CONTENTS

PageNumber
Glossary2
Information Regarding Forward-Looking Statements3
PART I. FINANCIAL INFORMATION
Item 1.Financial Statements (Unaudited)
Consolidated Statements of Income - Three and Nine Months Ended September 30, 2026 and 20254
Consolidated Statements of Comprehensive Income - Three and Nine Months Ended September 30, 2026 and 20255
Consolidated Balance Sheets - as of September 30, 2026 and December 31, 20256
Consolidated Statements of Cash Flows - Nine Months Ended September 30, 2026 and 20257
Consolidated Statements of Stockholders’ Equity - Three and Nine Months Ended September 30, 2026 and 20259
Notes to Consolidated Financial Statements10
Note 1.General10
Note 2.Acquisitions and Divestiture11
Note 3.Debt12
Note 4.Stockholders’ Equity14
Note 5.Risk Management14
Note 6.Revenue Recognition19
Note 7.Reportable Segments22
Note 8.Income Taxes26
Note 9.Litigation and Environmental26
Note 10.Recent Accounting Pronouncements30
Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations
General and Basis of Presentation32
Results of Operations32
Overview32
Consolidated Earnings Results35
Non-GAAP Financial Measures38
Segment Earnings Results40
Liquidity and Capital Resources48
Summarized Combined Financial Information for Guarantee of Securities of Subsidiaries52
Item 3.Quantitative and Qualitative Disclosures About Market Risk53
Item 4.Controls and Procedures53
PART II. OTHER INFORMATION
Item 1.Legal Proceedings53
Item 1A.Risk Factors53
Item 2.Unregistered Sales of Equity Securities and Use of Proceeds53
Item 3.Defaults Upon Senior Securities53
Item 4.Mine Safety Disclosures53
Item 5.Other Information53
Item 6.Exhibits55
Signature56
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.