Targa Resources, Inc. (TRGP) Financial Statements (2024 and earlier)

Company Profile

Business Address TARGA RESOURCES PARTNERS LP
HOUSTON, TX 77002
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 4922 - Natural Gas Transmission (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)
Annual | Quarterly

12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments140169212219193154
Cash and cash equivalents140169212219193154
Receivables1,2419881,0231,4081,5351,613
Inventory, net of allowances, customer advances and progress billings536312156394471202
Inventory536312156394471202
Derivative instruments and hedges, assets2793704529 
Other current assets13865101156112115
Other undisclosed current assets581017713515781
Total current assets:2,1391,7291,6392,3572,4972,164
Noncurrent Assets
Property, plant and equipment15,33414,89014,47014,21513,71611,878
Long-term investments and receivables138132135131136137
Long-term investments138132135131136137
Intangible assets, net (including goodwill)2,4472,5432,6392,7352,8401,039
Intangible assets, net (excluding goodwill)2,4472,5432,6392,7352,8401,039
Other noncurrent assets1141201079815096
Other undisclosed noncurrent assets184936255021
Total noncurrent assets:18,05017,73317,38717,20316,89313,170
TOTAL ASSETS:20,19019,46219,02619,56019,39015,334
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities1,8731,4561,4441,7222,2012,288
Interest and dividends payable✕✕✕✕✕101132
Accounts payable1,5811,1731,2551,4491,8061,901
Accrued liabilities292283189273294255
Debt4238353417 
Derivative instruments and hedges, liabilities28778173270 
Other undisclosed current liabilities7398209091,137906865
Total current liabilities:2,6822,3212,4673,0673,3943,153
Noncurrent Liabilities
Long-term debt and lease obligation, including:12,31811,81311,44010,70210,4317,046
Finance lease, liability2382252091934020
Other undisclosed long-term debt and lease obligation12,08011,58811,23110,50910,3917,027
Liabilities, other than long-term debt793767673769792502
Deferred income tax liabilities418405298328301213
Other liabilities358359346341367288
Derivative instruments and hedges, liabilities17329101124 
Other undisclosed noncurrent liabilities1821344042232
Total noncurrent liabilities:13,13012,60112,14711,51111,2657,780
Total liabilities:15,81214,92214,61314,57814,65910,933
Equity
Equity, attributable to parent, including:2,5062,6752,5512,6662,3852,070
Treasury stock, value(856)(701)(551)(465)(432)(350)
Additional paid in capital3,0623,0463,1463,7023,7683,834
Accumulated other comprehensive income (loss)(5)1318555(7)(276)
Retained earnings (accumulated deficit)306200(130)(627)(945)(1,138)
Other undisclosed equity, attributable to parent000000
Equity, attributable to noncontrolling interest1,8721,8651,8622,3172,3472,331
Total equity:4,3784,5404,4124,9824,7314,401
TOTAL LIABILITIES AND EQUITY:20,19019,46219,02619,56019,39015,334

Income Statement (P&L) ($ in millions)
Annual | Quarterly

12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
Revenues3,8973,4044,5214,5555,3606,056
Cost of revenue
(Cost of Goods and Services Sold)		(2,690)(2,069)(3,019)(3,324)(4,306)(5,047)
Gross profit:1,2071,3351,5021,2311,0541,009
Operating expenses(368)(354)(341)(345)(340)(287)
Other operating income (expense), net(3) 1(5)40
Other undisclosed operating loss(331)(332)(325)(330)(287)(270)
Operating income:505649837551430452
Nonoperating income (expense)(0)(2)(3)(1)(15)436
Investment income, nonoperating      436
Other nonoperating income (expense)(0)(2)(3)(1)(15)1
Interest and debt expense      (34)
Other undisclosed loss from continuing operations before equity method investments, income taxes      
Income from continuing operations before equity method investments, income taxes:505647834551415855
Income (loss) from equity method investments33(0)021
Other undisclosed loss from continuing operations before income taxes(175)(167)(168)(146)(126)(81)
Income from continuing operations before income taxes:333484666406291775
Income tax expense(54)(96)(110)(10)(12)(87)
Income from continuing operations:279388555396279688
Income before gain (loss) on sale of properties:✕✕✕✕✕279688
Net income:279388555396279688
Net loss attributable to noncontrolling interest(59)(58)(58)(78)(86)(91)
Net income attributable to parent:220329497318193596
Undistributed earnings (loss) allocated to participating securities, basic(2)     
Other undisclosed net income (loss) available to common stockholders, basic2 (491)(0) (224)
Net income available to common stockholders, diluted:2203296318193373

Comprehensive Income ($ in millions)
Annual | Quarterly

12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
Net income:279388555396279688
Other comprehensive income (loss)(136)463061270142
Comprehensive income:143434585457549830
Comprehensive loss, net of tax, attributable to noncontrolling interest(59)(58)(58)(78)(86)(91)
Comprehensive income, net of tax, attributable to parent:84375527379463738

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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