From Chili's 'triple dipper' to The Cheesecake Factory, restaurant chains are reviving mallsSAN DIEGO--(BUSINESS WIRE)--Nov 26, 2024-- Talavera Solutions , a pioneering technology services firm, today announced its launch with a dual mission: transforming how organizations build and scale their CRM Centers of Excellence while creating unprecedented growth opportunities for Latin American technology professionals. Founded by Gabriel-Alberto 'Gabe' Arce , who led Axos Bank 's Salesforce practice for nearly a decade, Talavera Solutions is reimagining how organizations achieve technical excellence in the digital age. Innovation at Scale Talavera Solutions has built a state-of-the-art talent community platform on Salesforce technologies, reducing recruiting times by 75%. The company plans to release a few innovations that resulted from that effort as enterprise-ready solutions on the Salesforce AppExchange , including a Universal Document Manager for 360-degree document visibility and a Secure Messaging Starter Pack for integrated communications within Experience Cloud and external applications. "We're not just using Salesforce -- we're actively contributing to its ecosystem," said Arce. "Our upcoming AppExchange solutions reflect our commitment to making enterprise-grade innovations accessible to the broader Salesforce community." Comprehensive Services and Cost Optimization Talavera Solutions offers: Salesforce Implementation & Technical Strategy Omnichannel Customer Experiences Strategic Nearshore Staffing Virtual Generative AI Agents The company provides innovative cost-optimization through bespoke CI/CD infrastructures on Azure DevOps and automated documentation via a partnership with Swantide (venture-backed by Menlo Ventures, Scribble Ventures and Burst Capital ). "When we saw his vision we partnered immediately," said Taylor Lint, CEO of Swantide. Customers can see a ~15% boost in salesforce team productivity with these 2 services combined. Revolutionary Digital-First Talent Experience The company's talent platform enables personalized career development through automated profile tracking, opportunity matching, and streamlined onboarding. For technical professionals across the Americas, Talavera Solutions provides fully funded certification programs, structured mentorship from industry veterans, hands-on enterprise experience, and opportunities to contribute to AppExchange solutions - all supported by continuous learning and clear advancement pathways. Regional Expansion Following its successful launch in Bogota, Colombia, Talavera Solutions will open its second delivery center in Guadalajara, Mexico in December 2024. New centers are planned for El Salvador, Costa Rica, and Argentina in 2025, establishing a strong Central & South American presence. The company will also expand its technical specializations into Data Science and Generative AI practices. "We're building something special," concluded Arce. "A place where organizations can find true technical partners, where ambitious professionals can build remarkable careers, and where innovation flows back into the broader technology community. This is just the beginning of our journey to transform technical talent development in Latin America." About Talavera Solutions Talavera Solutions is a trusted technology advisor driving enterprise growth through proven Salesforce expertise and innovative nearshore solutions. Founded on values of technical excellence, continuous learning, and collaborative innovation, we're transforming how organizations access elite technical talent while building lasting partnerships across the Americas. For more information about partnership opportunities or to begin your career growth journey with Talavera Solutions, visit www.talaverasolutions.com . View source version on businesswire.com : https://www.businesswire.com/news/home/20241126822623/en/ CONTACT: Gabriel-Alberto 'Gabe' Arce Founder & CEO gabe@talaverasolutions.com KEYWORD: CALIFORNIA MEXICO UNITED STATES SOUTH AMERICA CENTRAL AMERICA NORTH AMERICA COLOMBIA INDUSTRY KEYWORD: TECHNOLOGY FINANCE BANKING PROFESSIONAL SERVICES SOFTWARE SMALL BUSINESS INTERNET DATA MANAGEMENT VOIP OTHER PROFESSIONAL SERVICES SOURCE: Talavera Solutions Copyright Business Wire 2024. PUB: 11/26/2024 03:00 PM/DISC: 11/26/2024 03:01 PM http://www.businesswire.com/news/home/20241126822623/en

Carbon capture technology, like what is being developed at Squamish's , is critical in the fight against the forces of climate change, according to a Simon Fraser University professor. "It's essential because we are in such uncharted territory when it comes to climate change, with all of the effects that we're seeing with these severe weather events, it is incontrovertible that this is happening because of these high [carbon dioxide] levels in our atmosphere," said , who has toured his students around the Carbon Engineering (CE) Innovation Centre. (Squamish is the home of CE’s Direct Air Capture research and development and demonstration plant.) Khan teaches both undergraduate and graduate carbon capture engineering courses. While carbon capture has been around for a while—according to the , carbon dioxide capture technology has been used since the 1920s to separate marketable gases from the rest—why it is useful may still be unfamiliar to many. Khan asks his students to think about the processes at play when cooking at home. "Cooking indoors is the process that releases toxic gasses. So we have a kitchen vent that can safely capture all of it and reduce the amount of those toxic gasses in the household," he said, adding that while household plants also help clean the air, they aren't enough. "Let's say this vent stops working, ... then toxic smoke is going to build up in the household. The carbon monoxide alarm is going to start running. So then we have to open the doors and hope that all of this escapes out. So all of this is an analogy for carbon capture." Human behaviour has been contributing to significant emissions and carbon dioxide, which is toxic, clogging our "house" with toxins. "So now cleaning that up is an important technological challenge of our generation," he said. Carbon capture is one way to do that. "We also have to clean up where it is persisting, and that's where direct air capture comes so removing CO2 both from the atmosphere, but also directly from the sources where CO2 is being released, is a nutshell of carbon capture." Carbon Engineering spokesperson Cameron Lust notes that major scientific assessments—including those from the Intergovernmental Panel on Climate Change – conclude that billions of tonnes of carbon removal will be needed to limit warming and mitigate the impacts of climate change. “Direct Air Capture is a technology that captures carbon dioxide, the primary greenhouse gas contributing to climate change, directly from the air. When paired with safe, secure storage (DAC+S), it enables a highly scalable, measurable, and verifiable form of carbon removal,” Lust said. [See how Direct Air Capture works in the video below.] “DAC is a different but complementary solution to point-source carbon capture that can help hard-to-abate industries—like aviation—address their residual emissions from any place by decoupling the point of capture from the source of emission. For industries like aviation, we believe DAC+S offers a practical and cost-effective solution today for organizations advancing decarbonization goals with measurable, verifiable solutions.” In other words, Direct Air Capture extracts CO2 from the atmosphere at any location, while carbon capture is generally done at the point where emissions are made, like at an industrial plant. “The CO2 can be permanently stored in deep geological formations or used for a variety of applications,” reads the on carbon capture technologies. With carbon capture associated with scrubbing carbon from the atmosphere created by power plants, natural gas processing facilities and other industrial processes, wouldn't it be better to just switch to cleaner processes? Khan says even that wouldn't be enough at this point. "If today, everything was running on clean energy, we still have the problem that the CO2 levels in the atmosphere are too high. There are pre-industrial emission levels, which are commonly said to have been 280 parts per million (ppm). Currently, we're way over that at [ ppm as of 2023], and we know that that's causing these effects of climate change. So that's CO2 that is now in the atmosphere. It has to be removed, and it has to go somewhere where it's all going to re-emerge and cause the same effects again. And that is why I say [carbon capture] is critical." The fact that big oil and gas companies are investing heavily in this technology doesn't mean that investment isn't useful, Khan suggests. "The interest from different groups, including oil and gas, the momentum that it's providing is essentially advancement of carbon capture, where it can become cost-effective, it can be safer, and then [we can] really target the big problem," he said. "What I tell students is all momentum, all awareness, all interest in carbon capture is good interest. It's taking it in the right direction," he said. And while some may argue investing in carbon capture is a way for Big Oil to continue to expand, Khan points to government policy as the solution to that concern. "This is where policy comes in, right? Good policy frameworks. You can control the development of new oil and gas while ensuring that carbon capture is really meeting the intended needs that it has set out to do." The cost of Direct Air Capture is still something that needs to be overcome. "It's a fair concern because there's energy that's needed to run at a space that's needed, but you know, engineers have come to the rescue many times for our generations. And this is also what we teach here at SFU Sustainable Energy Engineering," he said. "There is an optimization problem here, which can be solved in the next 10 years ... or even faster, where costs start to go down. These systems are powered by renewable energy systems. And by these systems, I mean carbon capture systems, so that sweet middle ground where it's operating without causing more environmental issues, while being effective in terms of costs—it's there on the horizon." Khan stresses that carbon capture technologies aren’t working in competition with other clean tech options. "It's complementary to clean energy systems but working in parallel. Khan said there is a misunderstanding about the storage of carbon dioxide in terms of the safety of pumping it to be stored underground. "There are studies that if the facilities are designed in areas where geological risks are considered and the safe, long-term storage possible," he said. Khan sees two areas of advancement that are next for carbon capture technology. The first area is research and development. There are new materials and ways to make the process faster and reduce the energy needed. Though already fairly evolved, another advancement he sees coming is in capturing the CO2 at the source. "There's room there for innovation [there]," he said, noting that recently, in his graduate carbon capture class, students looked at how they could capture CO2 from a bioenergy plant using some of the wood that was damaged by the wood beetle. "It's a great source of energy, but also, you don't want to put the CO2 in the atmosphere, so this is where you can deploy some of the existing technologies to make it more efficient." Asked what ideally he would like to see in 10 years, Khan said widespread use of carbon capture technology deployed at the sources—factories or plants— of products we currently don't have great replacements for. "The fossil fuel-driven energy systems to power these sectors," he explained. "Our society still needs steel. We need concrete. These basic needs are going to be necessary for decades ahead. So that's where targeted deployed carbon capture, right at these facilities, right at the point where the CO2 is being emitted, and capturing it and converting it or storing it is going to be very important, and it's already growing." He noted that the carbon dioxide that is captured in the process, doesn't have to go to waste. It can be used and converted into products that could be polymers or fuels, but that is not all. There are also carbon-neutral processes for its use. One of his students recently designed a way to convert captured CO2 into urea, a fertilizer that works well for corn, grasses, or soil that is deficient in nitrogen. Asked if technologies like carbon capture may be less focused on given the global swing toward more right-wing governments, who may not prioritize environmental protection, Khan said the science is clear to all. "Irrespective of the political spectrum and viewpoints, the science is clear. Climate change is being caused by greenhouse gasses, and reducing those levels is key to preserving a sustainable future." Khan's will be offered in the summer of 2025. Carbon Engineering, which currently employs 185 people, about 70% of whom live in Squamish, has purchased another local property in the Business Park. Lust said as soon as that deal was done, the company began progressing through the design work for the planned facility. “We continue to work closely with the District of Squamish on the project and will be able to share more information as we progress through engineering,’ he said. Meanwhile, in regards to the company’s planned direct air capture facility in the Permian Basin, in Texas, construction for that first facility to use the company’s technology—named STRATOS—is nearing completion, with commercial operations slated to begin in mid-2025, according to Lust.NEW YORK (AP) — Federal investigators in New York are seeking records from the manufacturer of an AI-powered weapons scanner that was briefly deployed this summer in New York City’s subway system. The tech company, Evolv, revealed in a public filing that it “received a voluntary document request from the U.S. Attorney’s Office of the Southern District of New York” on Nov. 1. It was unclear what the request was seeking. The U.S. Attorney’s Office in Manhattan declined to comment on the request, which was first reported by the Daily News. In an emailed statement, a spokesperson for Evolv said the company was “pleased to cooperate with all government agencies and regulators who request information from our company.” The Massachusetts-based tech company, whose scanners have also been used at sports stadiums and schools, has faced allegations of misconduct. Last month, Evolv’s board of directors fired its chief executive following an internal investigation that found certain sales had been “subject to extra-contractual terms and conditions.” On Tuesday, the company announced it had resolved a previous probe launched by the Federal Trade Commission last year over allegations of deceptive marketing practices. The company is also under separate investigation by the Securities and Exchange Commission. Despite the legal and regulatory scrutiny, New York City Mayor Eric Adams announced a pilot program this summer to bring a handful of scanners to the city's subways to deter gun violence. The initiative drew immediate criticism from civil liberties groups who said the searches were unconstitutional, along with questions about its efficacy. In October, the city revealed the scanners did not detect any passengers with firearms — but falsely alerted more than 100 times. At the time, a spokesperson for the New York Police Department said it was still “evaluating the outcome of the pilot” and had not entered into any contract with Evolv.

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WEST PALM BEACH, Fla. (AP) — An online spat between factions of Donald Trump's supporters over immigration and the tech industry has thrown internal divisions in his political movement into public display, previewing the fissures and contradictory views his coalition could bring to the White House. The rift laid bare the tensions between the newest flank of Trump's movement — wealthy members of the tech world including billionaire Elon Musk and fellow entrepreneur Vivek Ramaswamy and their call for more highly skilled workers in their industry — and people in Trump's Make America Great Again base who championed his hardline immigration policies. The debate touched off this week when Laura Loomer , a right-wing provocateur with a history of racist and conspiratorial comments, criticized Trump’s selection of Sriram Krishnan as an adviser on artificial intelligence policy in his coming administration. Krishnan favors the ability to bring more skilled immigrants into the U.S. Loomer declared the stance to be “not America First policy” and said the tech executives who have aligned themselves with Trump were doing so to enrich themselves. Much of the debate played out on the social media network X, which Musk owns. Loomer's comments sparked a back-and-forth with venture capitalist and former PayPal executive David Sacks , whom Trump has tapped to be the “White House A.I. & Crypto Czar." Musk and Ramaswamy, whom Trump has tasked with finding ways to cut the federal government , weighed in, defending the tech industry's need to bring in foreign workers. It bloomed into a larger debate with more figures from the hard-right weighing in about the need to hire U.S. workers, whether values in American culture can produce the best engineers, free speech on the internet, the newfound influence tech figures have in Trump's world and what his political movement stands for. Trump has not yet weighed in on the rift. His presidential transition team did not respond to questions about positions on visas for highly skilled workers or the debate between his supporters online. Instead, his team instead sent a link to a post on X by longtime adviser and immigration hard-liner Stephen Miller that was a transcript of a speech Trump gave in 2020 at Mount Rushmore in which he praised figures and moments from American history. Musk, the world's richest man who has grown remarkably close to the president-elect , was a central figure in the debate, not only for his stature in Trump's movement but his stance on the tech industry's hiring of foreign workers. Technology companies say H-1B visas for skilled workers, used by software engineers and others in the tech industry, are critical for hard-to-fill positions. But critics have said they undercut U.S. citizens who could take those jobs. Some on the right have called for the program to be eliminated, not expanded. Born in South Africa, Musk was once on an a H-1B visa himself and defended the industry's need to bring in foreign workers. “There is a permanent shortage of excellent engineering talent," he said in a post. “It is the fundamental limiting factor in Silicon Valley.” Trump's own positions over the years have reflected the divide in his movement. His tough immigration policies, including his pledge for a mass deportation, were central to his winning presidential campaign. He has focused on immigrants who come into the U.S. illegally but he has also sought curbs on legal immigration , including family-based visas. As a presidential candidate in 2016, Trump called the H-1B visa program “very bad” and “unfair” for U.S. workers. After he became president, Trump in 2017 issued a “Buy American and Hire American” executive order , which directed Cabinet members to suggest changes to ensure H-1B visas were awarded to the highest-paid or most-skilled applicants to protect American workers. Trump's businesses, however, have hired foreign workers, including waiters and cooks at his Mar-a-Lago club , and his social media company behind his Truth Social app has used the the H-1B program for highly skilled workers. During his 2024 campaign for president, as he made immigration his signature issue, Trump said immigrants in the country illegally are “poisoning the blood of our country" and promised to carry out the largest deportation operation in U.S. history. But in a sharp departure from his usual alarmist message around immigration generally, Trump told a podcast this year that he wants to give automatic green cards to foreign students who graduate from U.S. colleges. “I think you should get automatically, as part of your diploma, a green card to be able to stay in this country," he told the “All-In" podcast with people from the venture capital and technology world. Those comments came on the cusp of Trump's budding alliance with tech industry figures, but he did not make the idea a regular part of his campaign message or detail any plans to pursue such changes.Arsenal Ace Continues to Justify Arteta's Faith With Outstanding Display vs Ipswich

1 2 Kolkata: The public mass sacrifice of animals, a tradition at the 400-year-old Bolla Kali Mata Temple in South Dinajpur , came to an end on Thursday after the puja committee informed Calcutta High Court that the sacrifice would only take place in a designated sacrifice-room. The committee told the court goat sacrifice had been a centuries-old ritual at the temple and it would be done only at a "designated place for which a licence had been obtained". "The bali ghar (sacrificial room) is a recognised and licensed slaughterhouse conforming with all rules and regulations," it said. Two PILs were filed against illegal animal slaughters "in the name of God". Last year, the Reforms Social Welfare Foundation had approached the HC against the mass sacrifice ritual, and this year, Akhil Bharat Krishi Go Seva Sangh moved the court against it. Giving a report on the 2023 puja, Bengal govt told the court that the Bolla Kali temple committee even encouraged people to participate in the mass sacrifice. By doing this, the committee flouted its own undertaking that no encouragement would be given from the temple's side to citizens to participate in the mass sacrifice, govt said. The HC said if any violation of the undertaking given by the puja committee took place this year, appropriate action would be taken. CJ TS Sivagnanam said: "No one is trying to interfere with any religious practice. For ages together, it's been practised. But 100 years before and now, there is a lot of difference. Several legislations have come into place, particularly in 2001 when slaughterhouse rules were notified. It states that slaughtering can be done in a licensed premises. The counsels for the committee say they have obtained the licence. As per the rule, one animal cannot be slaughtered in the presence of another animal. If there should be a sacrifice, it needs to be done in a designated place. All over the place, you cannot keep slaughtering." CJ Sivagnanam was hearing the case with Justice Hiranmay Bhattacharyya. Highlighting the tradition, ASG Ashoke Chakraborty shared his views by saying that people pray before the deity, and if the prayer is granted, they sacrifice goats as offering. Advocates for the committee said animals were slaug-htered one by one and were not visible to each other. The space has three places of sacrifice separated by partitions, they said.Federal prosecutors seek records from company that deployed AI weapons scanner on NYC subway

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HOUSTON--(BUSINESS WIRE)--Dec 9, 2024-- Kinder Morgan, Inc. (NYSE: KMI) today announced its preliminary 2025 financial projections. “We expect 4% growth from 2024 in Adjusted EBITDA and 8% growth in Adjusted EPS due to growth projects in all our business segments, but most prominently in Natural Gas Pipelines and Energy Transition Ventures,” said Kim Dang, KMI Chief Executive Officer. “We are projecting an annualized dividend of $1.17 in 2025, constituting the 8 th year in a row in which we have increased our dividend. Our end-of-year 2025 Net Debt-to-Adjusted EBITDA ratio is forecast to be 3.8 times, which is in the lower part of our 3.5x-4.5x leverage target range and provides good capacity for additional opportunistic investment,” Dang concluded. “We anticipate generating Adjusted EPS of $1.27, up 8% compared to our year-end 2024 forecast of $1.17 per share, and Adjusted EBITDA of $8.3 billion, up 4% compared to the 2024 forecast of $8 billion,” said KMI President Tom Martin. “We expect to continue benefiting from strong natural gas market fundamentals driving growth on our existing natural gas transportation and storage assets, as well as creating expansion opportunities. Overall, our base business is relatively flat with expansion projects in our Natural Gas Pipelines segment and Energy Transition Ventures group as the primary growth drivers,” Martin concluded. Below is a summary of KMI’s expectations for 2025: This press release includes budgeted Adjusted EPS, Adjusted EBITDA and Net Debt, all of which are non-GAAP financial measures. For descriptions of these non-GAAP financial measures and reconciliations to the most comparable measures prepared in accordance with generally accepted accounting principles, please see “ Non-GAAP Financial Measures ” below. Historically, KMI has disclosed budgeted distributable cash flow, or DCF, in the aggregate and per share. KMI has excluded budgeted DCF from this press release due to declining investor interest in DCF as a primary performance measure. KMI expects to continue to disclose DCF in 2025 as supplemental information in some investor materials for comparability purposes. KMI’s expectations assume average annual prices for West Texas Intermediate (WTI) crude oil and Henry Hub natural gas of $68 per barrel and $3.00 per MMBtu, respectively, consistent with forward pricing during the budget process. The vast majority of cash generated by KMI is fee-based and therefore is not directly exposed to commodity prices. For 2025, the company estimates that every $1 per barrel change in the average WTI crude oil price impacts Adjusted EBITDA by approximately $7 million, and each $0.10 per MMBtu change in the price of natural gas impacts Adjusted EBITDA by approximately $6 million. The KMI board of directors has preliminarily reviewed the 2025 budget and will take formal action on it at the January board meeting, expected to coincide with the issuance of fourth quarter 2024 earnings on January 22, 2025. The 2025 budget will be the standard by which KMI measures its performance next year and will be a factor in determining employee compensation. Kinder Morgan has posted a presentation that includes a brief overview of the 2025 budget to the Investor Relations website and expects to publish a detailed 2025 budget and outlook presentation on the company’s website in early February. About Kinder Morgan, Inc. Kinder Morgan, Inc. (NYSE: KMI) is one of the largest energy infrastructure companies in North America. Access to reliable, affordable energy is a critical component for improving lives around the world. We are committed to providing energy transportation and storage services in a safe, efficient, and environmentally responsible manner for the benefit of the people, communities and businesses we serve. We own an interest in or operate approximately 79,000 miles of pipelines, 139 terminals, 702 billion cubic feet of working natural gas storage capacity and have renewable natural gas generation capacity of approximately 6.1 Bcf per year with an additional 0.8 Bcf in development. Our pipelines transport natural gas, refined petroleum products, crude oil, condensate, CO2, renewable fuels and other products, and our terminals store and handle various commodities including gasoline, diesel fuel, jet fuel, chemicals, metals, petroleum coke, and ethanol and other renewable fuels and feedstocks. Learn more about our work advancing energy solutions on the lower carbon initiatives page at www.kindermorgan.com . Important Information Relating to Forward-Looking Statements This news release includes forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934. Generally, the words “expects,” “believes,” anticipates,” “plans,” “will,” “shall,” “estimates,” and similar expressions identify forward-looking statements, which are generally not historical in nature. Forward-looking statements in this news release include express or implied statements pertaining to KMI’s expectations for 2024 and 2025, including expected Adjusted EPS, Adjusted EBITDA, Net Debt-to-Adjusted EBITDA, anticipated dividends, discretionary capital expenditures, KMI’s financing and capital allocation strategy, and the financial performance of growth projects. Forward-looking statements are subject to risks and uncertainties and are based on the beliefs and assumptions of management, based on information currently available to them. Although KMI believes that these forward-looking statements are based on reasonable assumptions, it can give no assurance as to when or if any such forward-looking statements will materialize nor their ultimate impact on our operations or financial condition. Important factors that could cause actual results to differ materially from those expressed in or implied by these forward-looking statements include: the timing and extent of changes in the supply of and demand for the products we transport and handle; commodity prices; regulatory and policy changes; delays or cost overruns affecting expansion projects; and the other risks and uncertainties described in KMI’s reports filed with the Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the year-ended December 31, 2023 (under the headings “Risk Factors” and “Information Regarding Forward-Looking Statements” and elsewhere) and its subsequent reports, which are available through the SEC’s EDGAR system at www.sec.gov and on our website at ir.kindermorgan.com . Forward-looking statements speak only as of the date they were made, and except to the extent required by law, KMI undertakes no obligation to update any forward-looking statement because of new information, future events or other factors. Because of these risks and uncertainties, readers should not place undue reliance on these forward-looking statements. Non-GAAP Financial Measures Our non-GAAP financial measures described further below should not be considered alternatives to GAAP net income attributable to Kinder Morgan, Inc. or other GAAP measures and have important limitations as analytical tools. Our computations of these non-GAAP financial measures may differ from similarly titled measures used by others. You should not consider these non-GAAP financial measures in isolation or as substitutes for an analysis of our results as reported under GAAP. Management compensates for the limitations of our consolidated non-GAAP financial measures by reviewing our comparable GAAP measures identified in the descriptions of consolidated non-GAAP measures below, understanding the differences between the measures and taking this information into account in its analysis and its decision-making processes. Certain Items, as adjustments used to calculate our non-GAAP financial measures, are items that are required by GAAP to be reflected in net income attributable to Kinder Morgan, Inc., but typically either (1) do not have a cash impact (for example, unsettled commodity hedges and asset impairments), or (2) by their nature are separately identifiable from our normal business operations and in most cases are likely to occur only sporadically (for example, certain legal settlements, enactment of new tax legislation and casualty losses) We also include adjustments related to joint ventures (see “ Amounts from Joint Ventures ” below). Adjusted EPS is calculated as Adjusted Net Income Attributable to Common Stock divided by our weighted average shares outstanding. Adjusted Net Income Attributable to Common Stock is calculated by adjusting Net income attributable to Kinder Morgan, Inc., the most comparable GAAP measure, for Certain Items, and further for net income allocated to participating securities and adjusted net income in excess of distributions for participating securities. We believe Adjusted Net Income Attributable to Common Stock allows for calculation of adjusted earnings per share (Adjusted EPS) on the most comparable basis with earnings per share, the most comparable GAAP measure to Adjusted EPS. Adjusted EPS applies the same two-class method used in arriving at basic earnings per share. Adjusted EPS is used by us, investors and other external users of our financial statements as a per-share supplemental measure that provides decision-useful information regarding our period-over-period performance and ability to generate earnings that are core to our ongoing operations. Adjusted EBITDA is calculated by adjusting net income attributable to Kinder Morgan, Inc. for Certain Items and further for DD&A, income tax expense and interest. We also include amounts from joint ventures for income taxes and DD&A (see “ Amounts associated with Joint Ventures ” below). Adjusted EBITDA (on a rolling 12-months basis) is used by management, investors and other external users, in conjunction with our Net Debt (as described further below), to evaluate our leverage. Management and external users also use Adjusted EBITDA as an important metric to compare the valuations of companies across our industry. Our ratio of Net Debt-to-Adjusted EBITDA is used as a supplemental performance target for purposes of our annual incentive compensation program. We believe the GAAP measure most directly comparable to Adjusted EBITDA is net income attributable to Kinder Morgan, Inc. Net Debt is calculated by subtracting from debt (1) cash and cash equivalents, (2) debt fair value adjustments, and (3) the foreign exchange impact on Euro-denominated bonds for which we have entered into currency swaps. Net Debt, on its own and in conjunction with our Adjusted EBITDA (on a rolling 12-months basis) as part of a ratio of Net Debt-to-Adjusted EBITDA, is a non-GAAP financial measure that is used by management, investors, and other external users of our financial information to evaluate our leverage. Our ratio of Net Debt-to-Adjusted EBITDA is also used as a supplemental performance target for purposes of our annual incentive compensation program. We believe the most comparable measure to Net Debt is total debt. 2025 budgeted Net Debt is calculated as budgeted total debt of $31.4 billion, less budgeted cash and cash equivalents of less than $0.1 billion; 2025 budgeted Net Debt does not include budgeted debt fair value adjustments or the budgeted foreign exchange impact on our Euro denominated debt, as these amounts are impractical to predict and are expected to be immaterial. Amounts associated with Joint Ventures - Certain Items and Adjusted EBITDA reflect amounts from unconsolidated joint ventures (JVs) and consolidated JVs utilizing the same recognition and measurement methods used to record “Earnings from equity investments” and “Noncontrolling interests,” respectively. The calculation of Adjusted EBITDA related to our unconsolidated and consolidated JVs include the same items (DD&A, including amortization of basis differences related to our JVs, and income tax expense) with respect to the JVs as those included in the calculation of Adjusted EBITDA for our wholly owned consolidated subsidiaries; further, we remove the portion of these adjustments attributable to non-controlling interests. Although these amounts related to our unconsolidated JVs are included in the calculation of Adjusted EBITDA, such inclusion should not be understood to imply that we have control over the operations and resulting revenues, expenses, or cash flows of such unconsolidated JVs. Table 1 Kinder Morgan, Inc. and Subsidiaries Reconciliation of Projected Net Income Attributable to Kinder Morgan, Inc. to Projected Adjusted EBITDA (In billions, unaudited) 2024 Forecast 2025 Budget Net income attributable to Kinder Morgan, Inc. (GAAP) $ 2.7 $ 2.8 Total Certain Items (1) (0.1 ) — DD&A 2.4 2.4 Income tax expense (2) 0.8 0.8 Interest, net (2) 1.8 1.8 Amounts associated with joint ventures Unconsolidated JV DD&A (3) 0.4 0.5 Remove consolidated JV partners' DD&A (0.1 ) (0.1 ) Unconsolidated JV income tax expense (4) 0.1 0.1 Adjusted EBITDA $ 8.0 $ 8.3 Table 2 Kinder Morgan, Inc. and Subsidiaries Reconciliation of Projected Net Income Attributable to Kinder Morgan, Inc. to Projected Adjusted Net Income Attributable to Common Stock (In billions, unaudited) 2024 Forecast 2025 Budget Net income attributable to Kinder Morgan, Inc. (GAAP) $ 2.7 $ 2.8 Total Certain Items (1) (0.1 ) — Net income allocated to participating securities (1)(5) — — Other (1)(6) — — Adjusted Net Income Attributable to Common Stock (7) $ 2.6 $ 2.8 Notes (1) Aggregate adjustments are currently estimated to be less than $100 million. (2) Amounts are adjusted for Certain Items. (3) Includes amortization of basis differences related to our JVs. (4) Includes the tax provision on Certain Items recognized by the investees that are taxable entities associated with our Citrus, NGPL and Products (SE) Pipe Line equity investments. (5) Net income allocated to common stock and participating securities is based on the amount of dividends paid in the current period plus an allocation of the undistributed earnings or excess distributions over earnings to the extent that each security participates in earnings or excess distributions over earnings, as applicable. (6) Adjusted net income in excess of distributions for participating securities. (7) Adjusted Net Income Attributable to Common Stock is used to calculate Adjusted EPS. View source version on businesswire.com : https://www.businesswire.com/news/home/20241209656170/en/ CONTACT: Dave Conover Media Relations newsroom@kindermorgan.comInvestor Relations (800) 348-7320 km_ir@kindermorgan.com www.kindermorgan.com KEYWORD: TEXAS UNITED STATES NORTH AMERICA CANADA INDUSTRY KEYWORD: OIL/GAS ENERGY SOURCE: Kinder Morgan, Inc. Copyright Business Wire 2024. PUB: 12/09/2024 04:05 PM/DISC: 12/09/2024 04:06 PM http://www.businesswire.com/news/home/20241209656170/en