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)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments219159243331232137
Cash and cash equivalents219159243331232137
Receivables1,4081,332863855866828
Inventory, net of allowances, customer advances and progress billings394153182162165205
Inventory394153182162165205
Derivative instruments and hedges, assets45     
Disposal group, including discontinued operation    138  
Other current assets1568388704163
Other undisclosed current assets135438610311538
Total current assets:2,3571,7701,4601,6581,4191,270
Noncurrent Assets
Property, plant and equipment14,21511,66812,17414,54912,92810,430
Long-term investments and receivables131587714739491222
Long-term investments131587714739491222
Intangible assets, net (including goodwill)2,7351,0951,3821,7802,0302,422
Goodwill    4547257
Intangible assets, net (excluding goodwill)2,7351,0951,3821,7351,9832,166
Regulated entity, other noncurrent assets     31 
Other noncurrent assets988296543722
Other undisclosed noncurrent assets2584936323
Total noncurrent assets:17,20313,43814,41517,15715,51913,119
TOTAL ASSETS:19,56015,20815,87618,81516,93814,389
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:1,7221,8131,1531,3801,7371,187
Interest and dividends payable1391331268054
Employee-related liabilities  625753
Accounts payable1,4491,4028349971,2011,001
Accrued liabilities273272186182122
Other undisclosed accounts payable and accrued liabilities    17737957
Debt34  3701,029 
Derivative instruments and hedges, liabilities173     
Disposal group, including discontinued operation    6  
Other undisclosed current liabilities1,13748662711632430
Total current liabilities:3,0672,2991,7791,8732,7991,617
Noncurrent Liabilities
Long-term debt and lease obligation, including:10,7026,4347,3877,4405,6324,703
Long-term debt, excluding current maturities     5,6324,703
Finance lease, liability193141926
Other undisclosed long-term debt and lease obligation10,5096,4217,3687,367  
Liabilities, other than long-term debt7694384613067871,077
Deferred tax liabilities, net525479
Deferred income tax liabilities328136152 
Other liabilities341302309306262598
Operating lease, liability    47
Derivative instruments and hedges, liabilities101     
Other undisclosed noncurrent liabilities40859345754249160
Total noncurrent liabilities:11,5117,7318,1938,5006,6695,940
Total liabilities:14,57810,0309,97310,3729,4677,556
Temporary equity, carrying amount      76
Equity
Equity, attributable to parent, including:2,6662,0122,6544,9216,0796,160
Treasury stock, value(465)(204)(151)(54)(40)(36)
Additional paid in capital3,7024,2694,8405,2216,1556,303
Accumulated other comprehensive income (loss)55(231)(142)9394(30)
Retained earnings (accumulated deficit)(627)(1,822)(1,894)(340)(130)(77)
Other undisclosed equity, attributable to parent000000
Equity, attributable to noncontrolling interest2,3173,1673,2493,5221,391596
Total equity:4,9825,1795,9038,4437,4716,756
TOTAL LIABILITIES AND EQUITY:19,56015,20815,87618,81516,93814,389

Income Statement (P&L) ($ in millions)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues20,93016,9508,2608,6719,3518,815
Revenue, net8,815
Cost of revenue
(Cost of Goods and Services Sold)
(16,882)(13,730)(5,105)(6,119)(8,238)(6,906)
Other undisclosed gross profit     1,133 
Gross profit:4,0483,2203,1552,5532,2461,909
Operating expenses(1,223)(1,020)(1,034)(1,074)(979)(826)
Other operating expense, net(0)(12)(117)(71)(4)(17)
Other undisclosed operating loss(1,096)(1,323)(3,308)(1,215)(1,026)(1,188)
Operating income (loss):1,729865(1,304)193238(122)
Nonoperating income (expense)42113690(3)
Investment income, nonoperating 436  69  
Other nonoperating income (expense)(15)13 0(3)
Interest and debt expense (50)(17)46(1)(2)(17)
Income (loss) from continuing operations before equity method investments, income taxes:2,100849(1,255)261236(142)
Income from equity method investments9     
Other undisclosed loss from continuing operations before income taxes(446)(412)(318)(308)(170)(151)
Income (loss) from continuing operations before income taxes:1,663437(1,573)(47)66(293)
Income tax expense (benefit)(132)(15)24888(6)397
Income (loss) from continuing operations:1,531422(1,325)4160104
Income (loss) before gain (loss) on sale of properties:422(1,325)4160104
Net income (loss):1,531422(1,325)4160104
Net loss attributable to noncontrolling interest(336)(351)(229)(250)(59)(50)
Net income (loss) attributable to parent:1,19671(1,554)(209)254
Preferred stock dividends and other adjustments    (125)(121)(117)
Undistributed earnings (loss) allocated to participating securities, basic      
Other undisclosed net loss available to common stockholders, basic(299)(87)(131)   
Net income (loss) available to common stockholders, diluted:897(16)(1,685)(334)(119)(63)

Comprehensive Income ($ in millions)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss):1,531422(1,325)4160104
Other comprehensive income (loss)286(89)(234)(2)1298
Comprehensive income (loss):1,817333(1,559)39190113
Comprehensive loss, net of tax, attributable to noncontrolling interest(336)(351)(229)(250)(59)(50)
Comprehensive income (loss), net of tax, attributable to parent:1,481(18)(1,788)(211)13162

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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