Kinder Morgan Energy Partners LP (FRA:KM7) Total Inventories : €331 Mil (As of Sep. 2014)

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What is Kinder Morgan Energy Partners LP Total Inventories?

Kinder Morgan Energy Partners LP's total inventories for the quarter that ended in Sep. 2014 was €331 Mil. Kinder Morgan Energy Partners LP's average total inventories from the quarter that ended in Jun. 2014 to the quarter that ended in Sep. 2014 was €321 Mil.

In Ben Graham's calculation of Net-Net Working Capital, inventory is only considered worth half of its book value. Kinder Morgan Energy Partners LP's Net-Net Working Capital per share for the quarter that ended in Sep. 2014 was €-43.65.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Kinder Morgan Energy Partners LP's Days Inventory for the three months ended in Sep. 2014 was 23.04.

Inventory Turnover measures how fast the company turns over its inventory within a year. Kinder Morgan Energy Partners LP's Inventory Turnover for the quarter that ended in Sep. 2014 was 3.96.

Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue. Kinder Morgan Energy Partners LP's Inventory-to-Revenue for the quarter that ended in Sep. 2014 was 0.11.

Kinder Morgan Energy Partners LP Total Inventories Historical Data

The historical data trend for Kinder Morgan Energy Partners LP's Total Inventories can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Kinder Morgan Energy Partners LP Total Inventories Chart

Kinder Morgan Energy Partners LP Annual Data

Trend

Dec04

Dec05

Dec06

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Dec08

Dec09

Dec10

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Dec12

Dec13

Total Inventories

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79.16

71.22

130.42

222.50

286.89

Kinder Morgan Energy Partners LP Quarterly Data
	Sep09	Dec09	Mar10	Jun10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14
Total Inventories	Get a 7-Day Free Trial															298.45	286.89	275.46	312.06	330.58

Kinder Morgan Energy Partners LP Total Inventories Calculation

Total Inventories includes the raw materials, work-in-process goods and completely finished goods of a company. It is a portion of a company's current assets.

Kinder Morgan Energy Partners LP (FRA:KM7) Total Inventories Explanation

Inventory control is an important part of business operation. If a company does not have enough inventory, it may not be able to meet customers' required delivery time. If it has too much inventory, the cost of holding the inventory can be high.

1. In Ben Graham's calculation of Net-Net Working Capital (NNWC), inventory is only considered worth half of its book value.

Kinder Morgan Energy Partners LP's Net-Net Working Capital Per Share for the quarter that ended in Sep. 2014 is

	Net-Net Working Capital Per Share (Q: Sep. 2014 )
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(207.968	+	0.75 * 1155.464	+	0.5 * 330.576	-	21176.264
-	0	-	384.896)	/	465.52
=	-43.65

2. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

Kinder Morgan Energy Partners LP's Days Inventory for the three months ended in Sep. 2014 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Sep. 2014 )	/	Cost of Goods Sold (Q: Sep. 2014 )	*	Days in Period
	=	321.32	/	1272.64	*	365 / 4
	=	23.04

3. Inventory Turnover measures how fast the company turns over its inventory within a year.

Kinder Morgan Energy Partners LP's Inventory Turnover for the quarter that ended in Sep. 2014 is calculated as

Inventory Turnover	=	Cost of Goods Sold (Q: Sep. 2014 )	/	Average Total Inventories (Q: Sep. 2014 )
	=	1272.64	/	321.32
	=	3.96

4. Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue.

Kinder Morgan Energy Partners LP's Inventory to Revenue for the quarter that ended in Sep. 2014 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Sep. 2014 )	/	Revenue (Q: Sep. 2014 )
	=	321.32	/	3052.008
	=	0.11

Be Aware

Manufacturers with durable competitive advantages have the advantage that the products they sell do not change, and therefore will never become obsolete. Buffett likes this advantage.

When identifying manufacturers with durable competitive advantage, look for inventory and net earnings that rise correspondingly. This indicates that the company is finding profitable ways to increase sales which called for an increase in inventory.

Manufacturers with inventories that spike up and down are indicative of competitive industries subject to boom and bust.

Kinder Morgan Energy Partners LP Total Inventories Related Terms

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Kinder Morgan Energy Partners LP (FRA:KM7) Business Description

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http://www.kindermorgan.com

Kinder Morgan Energy Partners LP is a Delaware limited partnership formed in August 1992. The Company is engaged in pipeline transportation and energy storage company in North America. They own an interest in or operate approximately 52,000 miles of pipelines and 180 terminals. Its pipelines transport natural gas, refined petroleum products, crude oil, condensate, CO2 and other products, and its terminals store petroleum products, ethanol and chemicals, and handle such products as coal, petroleum coke and steel. They are also the producer and transporter of CO2, for enhanced oil recovery projects in North America. Its operations are conducted through our five operating limited partnerships and their subsidiaries and are grouped into five reportable business segments: Natural Gas Pipelinesâ€”consists of approximately 40,000 miles of natural gas transmission pipelines and gathering lines, plus natural gas storage, treating and processing facilities, through which natural gas is gathered, transported, stored, treated, processed and sold; O2â€”which produces, markets and transports, through approximately 1,500 miles of pipelines, CO2 to oil fields that use CO2 to increase production of oil; owns interests in and/or operate four primary oil fields in West Texas; and owns and operates a 450-mile crude oil pipeline system in West Texas; Products Pipelinesâ€”consists of approximately 9,000 miles of refined petroleum products and crude oil and condensate pipelines that deliver refined petroleum products (gasoline, diesel fuel and jet fuel), NGL, crude oil, condensate and bio-fuels to various markets; plus approximately 62 associated product terminals and petroleum pipeline transmix processing facilities serving customers across the U.S.; Terminalsâ€”consists of approximately 122 owned or operated liquids and bulk terminal facilities and approximately 10 rail transloading and materials handling facilities located throughout the U.S. and portions of Canada, which together transload, store and deliver a wide variety of bulk, petroleum, petrochemical and other liquids products for customers across the U.S. and Canada; and Kinder Morgan Canadaâ€”transports crude oil and refined petroleum products through approximately 800 miles of pipelines from Alberta, Canada to marketing terminals and refineries in British Columbia and the state of Washington; plus five associated product terminal facilities. The Company's business operations are subject to federal, state, provincial and local laws and regulations relating to environmental protection, pollution and human health and safety in the U.S. and Canada.

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