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Crosstex Energy, AŞ Message Board

  • rrb1981 rrb1981 Dec 22, 2005 9:54 AM Flag

    KMI GP split

    For anyone interested, in the KMI annual report on page 45,(it can be found on KMI's website, the report is broken into 2 pieces, the summary and the financials, its in the financial portion in Adobe format), they spell out the GP Take for investors. KMI takes 41% of all cash produced by KMP due to its incentive distribution rights, and 51% when you count the LP units. Again, as I stated earlier, the GP take can never exceed 50% nor can it ever be 50% on an absolute basis because the lower levels dillute it down. I am still digging through the financials for the actual split levels. I notice it mentioned the 50% split starts at .23/Q, so that ought to give folks an idea of how far they are into the splits.