Financial Statements for Targa Resources Corp

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Targa Resources Corp financials

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Income Statement

Balance Sheet

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In Millions of USD (except for per share items)	3 months ending 2013-03-31	3 months ending 2012-12-31	3 months ending 2012-09-30	3 months ending 2012-06-30	3 months ending 2012-03-31
Revenue	1,397.80	1,527.30	1,393.50	1,319.10	1,645.80
Other Revenue, Total	-	-	-	-	-
Total Revenue	1,397.80	1,527.30	1,393.50	1,319.10	1,645.80
Cost of Revenue, Total	1,137.50	1,267.20	1,153.00	1,074.60	1,384.20
Gross Profit	260.30	260.10	240.50	244.50	261.60
Selling/General/Admin. Expenses, Total	36.30	33.50	35.70	35.70	34.90
Research & Development	-	-	-	-	-
Depreciation/Amortization	64.00	53.30	48.60	48.30	47.40
Interest Expense(Income) - Net Operating	-	-	-	-	-
Unusual Expense (Income)	-	12.80	-	-	-
Other Operating Expenses, Total	86.10	86.90	97.20	77.30	71.60
Total Operating Expense	1,323.90	1,453.70	1,334.50	1,235.90	1,538.10
Operating Income	73.90	73.60	59.00	83.20	107.70
Interest Income(Expense), Net Non-Operating	-	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-	-
Other, Net	-0.20	-6.20	-1.80	-0.40	0.00
Income Before Tax	43.20	39.80	25.00	52.10	79.30
Income After Tax	33.80	27.60	19.00	43.50	69.20
Minority Interest	-20.40	-16.40	-10.30	-34.90	-59.60
Equity In Affiliates	-	-	-	-	-
Net Income Before Extra. Items	13.40	11.20	8.70	8.60	9.60
Accounting Change	-	-	-	-	-
Discontinued Operations	-	-	-	-	-
Extraordinary Item	-	-	-	-	-
Net Income	13.40	11.20	8.70	8.60	9.60
Preferred Dividends	-	-	-	-	-
Income Available to Common Excl. Extra Items	13.40	11.20	8.70	8.60	9.60
Income Available to Common Incl. Extra Items	13.40	11.20	8.70	8.60	9.60
Basic Weighted Average Shares	-	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-	-
Dilution Adjustment	-	-	-	-	-
Diluted Weighted Average Shares	42.00	41.60	41.90	41.90	41.80
Diluted EPS Excluding Extraordinary Items	0.32	0.27	0.21	0.21	0.23
Diluted EPS Including Extraordinary Items	-	-	-	-	-
Dividends per Share - Common Stock Primary Issue	0.49	0.46	0.42	0.39	0.36
Gross Dividends - Common Stock	-	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-	-
Depreciation, Supplemental	-	-	-	-	-
Total Special Items	-	-	-	-	-
Normalized Income Before Taxes	-	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-	-
Normalized Income After Taxes	-	-	-	-	-
Normalized Income Avail to Common	-	-	-	-	-
Basic Normalized EPS	-	-	-	-	-
Diluted Normalized EPS	0.32	0.48	0.21	0.21	0.23

In Millions of USD (except for per share items)	12 months ending 2012-12-31	12 months ending 2011-12-31	12 months ending 2010-12-31	12 months ending 2009-12-31
Revenue	5,885.70	6,994.50	5,476.10	4,542.30
Other Revenue, Total	-	-	-	-
Total Revenue	5,885.70	6,994.50	5,476.10	4,542.30
Cost of Revenue, Total	4,879.00	6,039.00	4,695.50	3,797.40
Gross Profit	1,006.70	955.50	780.60	744.90
Selling/General/Admin. Expenses, Total	139.80	136.10	144.40	120.40
Research & Development	-	-	-	-
Depreciation/Amortization	197.60	181.00	185.50	170.30
Interest Expense(Income) - Net Operating	-	-	-	-
Unusual Expense (Income)	28.40	0.20	3.50	-2.60
Other Operating Expenses, Total	317.40	287.10	256.00	231.40
Total Operating Expense	5,562.20	6,643.40	5,284.90	4,316.90
Operating Income	323.50	351.10	191.20	225.40
Interest Income(Expense), Net Non-Operating	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-
Other, Net	-8.40	-1.20	0.50	1.20
Income Before Tax	196.20	242.00	85.80	99.80
Income After Tax	159.30	215.40	63.30	79.10
Minority Interest	-121.20	-184.70	-78.30	-49.80
Equity In Affiliates	-	-	-	-
Net Income Before Extra. Items	38.10	30.70	-15.00	29.30
Accounting Change	-	-	-	-
Discontinued Operations	-	-	-	-
Extraordinary Item	-	-	-	-
Net Income	38.10	30.70	-15.00	29.30
Preferred Dividends	-	-	-	-
Income Available to Common Excl. Extra Items	38.10	30.70	-202.30	0.00
Income Available to Common Incl. Extra Items	38.10	30.70	-202.30	0.00
Basic Weighted Average Shares	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-
Dilution Adjustment	-	0.00	0.00	0.00
Diluted Weighted Average Shares	41.80	41.40	42.29	42.29
Diluted EPS Excluding Extraordinary Items	0.91	0.74	-4.78	0.00
Diluted EPS Including Extraordinary Items	-	-	-	-
Dividends per Share - Common Stock Primary Issue	1.64	1.21	1.03	0.00
Gross Dividends - Common Stock	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-
Depreciation, Supplemental	-	-	-	-
Total Special Items	-	-	-	-
Normalized Income Before Taxes	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-
Normalized Income After Taxes	-	-	-	-
Normalized Income Avail to Common	-	-	-	-
Basic Normalized EPS	-	-	-	-
Diluted Normalized EPS	1.46	0.75	-4.72	-0.05

In Millions of USD (except for per share items)	As of 2013-03-31	As of 2012-12-31	As of 2012-09-30	As of 2012-06-30	As of 2012-03-31
Cash & Equivalents	112.70	76.30	120.70	117.50	121.20
Short Term Investments	-	-	-	-	-
Cash and Short Term Investments	112.70	76.30	120.70	117.50	121.20
Accounts Receivable - Trade, Net	427.60	514.90	416.20	368.10	462.60
Receivables - Other	-	-	-	-	-
Total Receivables, Net	427.60	514.90	416.20	368.10	462.60
Total Inventory	66.00	99.40	84.40	89.70	45.50
Prepaid Expenses	-	-	-	-	-
Other Current Assets, Total	24.90	42.70	45.10	74.20	46.90
Total Current Assets	631.20	733.30	666.40	649.50	676.20
Property/Plant/Equipment, Total - Gross	4,919.60	4,708.00	4,196.40	4,060.90	3,920.20
Accumulated Depreciation, Total	-1,227.20	-1,170.00	-1,135.20	-1,096.40	-1,048.20
Goodwill, Net	-	-	-	-	-
Intangibles, Net	674.10	680.80	-	-	-
Long Term Investments	54.80	53.10	51.00	50.10	42.70
Other Long Term Assets, Total	96.00	99.80	102.90	116.40	107.50
Total Assets	5,148.50	5,105.00	3,881.50	3,780.50	3,698.40
Accounts Payable	-	416.80	336.20	292.90	403.90
Accrued Expenses	-	107.80	81.20	94.70	73.50
Notes Payable/Short Term Debt	0.00	0.00	0.00	0.00	0.00
Current Port. of LT Debt/Capital Leases	-	-	-	-	-
Other Current liabilities, Total	12.00	162.00	108.90	100.20	91.90
Total Current Liabilities	633.10	686.60	526.30	487.80	569.30
Long Term Debt	2,522.40	2,475.30	1,751.00	1,610.30	1,469.70
Capital Lease Obligations	-	-	-	-	-
Total Long Term Debt	2,522.40	2,475.30	1,751.00	1,610.30	1,469.70
Total Debt	2,522.40	2,475.30	1,751.00	1,610.30	1,469.70
Deferred Income Tax	127.20	131.20	116.30	107.30	118.00
Minority Interest	1,657.80	1,609.30	1,296.30	1,367.40	1,325.00
Other Liabilities, Total	62.60	58.50	60.60	66.80	76.10
Total Liabilities	5,003.10	4,960.90	3,750.50	3,639.60	3,558.10
Redeemable Preferred Stock, Total	0.00	0.00	0.00	0.00	0.00
Preferred Stock - Non Redeemable, Net	-	-	-	-	-
Common Stock, Total	0.00	0.00	0.00	0.00	0.00
Additional Paid-In Capital	173.40	184.40	172.00	186.80	200.80
Retained Earnings (Accumulated Deficit)	-18.60	-32.00	-43.20	-51.90	-60.50
Treasury Stock - Common	-9.50	-9.50	-	-	-
Other Equity, Total	0.10	1.20	2.20	6.00	0.00
Total Equity	145.40	144.10	131.00	140.90	140.30
Total Liabilities & Shareholders' Equity	5,148.50	5,105.00	3,881.50	3,780.50	3,698.40
Shares Outs - Common Stock Primary Issue	-	-	-	-	-
Total Common Shares Outstanding	42.33	42.29	42.49	42.44	42.44

In Millions of USD (except for per share items)	As of 2012-12-31	As of 2011-12-31	As of 2010-12-31	As of 2009-12-31
Cash & Equivalents	76.30	145.80	188.40	252.40
Short Term Investments	-	-	-	-
Cash and Short Term Investments	76.30	145.80	188.40	252.40
Accounts Receivable - Trade, Net	514.90	575.70	466.60	404.30
Receivables - Other	-	-	-	-
Total Receivables, Net	514.90	575.70	466.60	404.30
Total Inventory	99.40	92.20	50.40	39.40
Prepaid Expenses	-	-	-	-
Other Current Assets, Total	42.70	52.80	45.10	48.90
Total Current Assets	733.30	866.50	750.50	745.00
Property/Plant/Equipment, Total - Gross	4,708.00	3,821.10	3,331.40	3,193.30
Accumulated Depreciation, Total	-1,170.00	-1,001.60	-822.40	-645.20
Goodwill, Net	-	-	-	-
Intangibles, Net	680.80	1.40	-	-
Long Term Investments	53.10	36.80	15.20	-
Other Long Term Assets, Total	99.80	106.80	119.10	74.40
Total Assets	5,105.00	3,831.00	3,393.80	3,367.50
Accounts Payable	416.80	515.30	254.20	206.40
Accrued Expenses	80.20	78.50	335.80	304.30
Notes Payable/Short Term Debt	0.00	0.00	0.00	0.00
Current Port. of LT Debt/Capital Leases	-	-	-	12.50
Other Current liabilities, Total	189.60	147.30	34.20	30.60
Total Current Liabilities	686.60	741.10	624.20	553.80
Long Term Debt	2,475.30	1,567.00	1,534.70	1,593.50
Capital Lease Obligations	-	-	-	-
Total Long Term Debt	2,475.30	1,567.00	1,534.70	1,593.50
Total Debt	2,475.30	1,567.00	1,534.70	1,606.00
Deferred Income Tax	131.20	120.50	111.60	50.00
Minority Interest	1,609.30	1,172.60	891.80	667.50
Other Liabilities, Total	58.50	71.70	87.20	106.90
Total Liabilities	4,960.90	3,672.90	3,249.50	2,971.70
Redeemable Preferred Stock, Total	0.00	0.00	0.00	308.40
Preferred Stock - Non Redeemable, Net	-	-	-	-
Common Stock, Total	0.00	0.00	0.00	0.00
Additional Paid-In Capital	184.40	229.50	244.50	194.00
Retained Earnings (Accumulated Deficit)	-32.00	-70.10	-100.80	-85.80
Treasury Stock - Common	-9.50	0.00	-	-0.50
Other Equity, Total	1.20	-1.30	0.60	-20.30
Total Equity	144.10	158.10	144.30	395.80
Total Liabilities & Shareholders' Equity	5,105.00	3,831.00	3,393.80	3,367.50
Shares Outs - Common Stock Primary Issue	-	-	-	-
Total Common Shares Outstanding	42.29	42.40	42.29	7.75

In Millions of USD (except for per share items)	3 months ending 2013-03-31	12 months ending 2012-12-31	9 months ending 2012-09-30	6 months ending 2012-06-30	3 months ending 2012-03-31
Net Income/Starting Line	33.80	159.30	131.70	112.60	69.20
Depreciation/Depletion	64.00	197.60	144.30	95.70	47.40
Amortization	-	-	-	-	-
Deferred Taxes	0.20	9.00	4.40	2.70	1.40
Non-Cash Items	7.10	60.60	48.20	21.30	11.20
Changes in Working Capital	68.90	1.70	-38.40	-28.30	9.60
Cash from Operating Activities	174.00	428.20	290.20	204.00	138.80
Capital Expenditures	-202.90	-582.70	-365.10	-238.70	-103.00
Other Investing Cash Flow Items, Total	-4.60	-1,008.00	-38.70	-12.40	-5.10
Cash from Investing Activities	-207.50	-1,590.70	-403.80	-251.10	-108.10
Financing Cash Flow Items	42.50	267.20	-48.60	5.60	56.50
Total Cash Dividends Paid	-19.00	-62.20	-44.90	-28.80	-13.80
Issuance (Retirement) of Stock, Net	-	-9.50	-	-	-
Issuance (Retirement) of Debt, Net	46.40	897.50	182.00	42.00	-98.00
Cash from Financing Activities	69.90	1,093.00	88.50	18.80	-55.30
Foreign Exchange Effects	-	-	-	-	-
Net Change in Cash	36.40	-69.50	-25.10	-28.30	-24.60
Cash Interest Paid, Supplemental	-	95.60	-	-	-
Cash Taxes Paid, Supplemental	-	30.50	-	-	-

In Millions of USD (except for per share items)	12 months ending 2012-12-31	12 months ending 2011-12-31	12 months ending 2010-12-31	12 months ending 2009-12-31
Net Income/Starting Line	159.30	215.40	63.30	79.10
Depreciation/Depletion	197.60	181.00	174.70	168.80
Amortization	-	-	-	-
Deferred Taxes	9.00	12.30	33.10	19.10
Non-Cash Items	45.00	10.20	65.10	71.90
Changes in Working Capital	17.30	-39.60	-131.00	-3.10
Cash from Operating Activities	428.20	379.30	205.20	335.80
Capital Expenditures	-582.70	-331.90	-139.30	-99.40
Other Investing Cash Flow Items, Total	-1,008.00	-177.40	8.00	40.10
Cash from Investing Activities	-1,590.70	-509.30	-131.30	-59.30
Financing Cash Flow Items	267.20	67.90	365.70	-8.00
Total Cash Dividends Paid	-62.20	-38.20	-448.10	0.00
Issuance (Retirement) of Stock, Net	-9.50	0.00	0.80	0.30
Issuance (Retirement) of Debt, Net	897.50	57.70	-56.30	-379.20
Cash from Financing Activities	1,093.00	87.40	-137.90	-386.90
Foreign Exchange Effects	-	-	-	-
Net Change in Cash	-69.50	-42.60	-64.00	-110.40
Cash Interest Paid, Supplemental	95.60	96.10	89.50	82.40
Cash Taxes Paid, Supplemental	30.50	33.80	92.70	6.50