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Pipeline Company Kinder Morgan Sees Short-Term Hit from U.S. Tax Reform


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These translations are done via Google Translate

January 24, 2018, by Rob Nickel

(Reuters)

Pipeline company Kinder Morgan Inc said on Wednesday that it expects U.S. tax reform to result in a one-time hit to earnings of $1.4 billion, but said it would be better off in the long run.

– In a presentation to analysts, Houston-based Kinder said the negative impact was due to lower tax rates affecting the value of its deferred tax assets.

– The company said over a 10-year period, it would be better off due to the ability to fully expense capital spending on certain assets, as well as the lower corporate tax rate.

– Earlier this month, oil company BP said it would take a $1.5 billion charge to adjust to new U.S. tax rules, but expects a long-term boost from corporate-friendly tax rates

– U.S. tax overhaul is likely to spur spending by refiners and pipeline companies, industry lobbyists and analysts said last month.

Reporting by Rod Nickel in Winnipeg, Manitoba; Editing by David Gregorio



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