$TRGP
Targa Resources Corp.

2015 Q3 Form 10-Q Financial Statement

#000114036115039471 Filed on November 03, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2014 Q4 2014 Q3
Revenue $1.632B $2.033B $2.288B
YoY Change -28.68% -3.4% 56.09%
Cost Of Revenue $1.172B $1.635B $1.881B
YoY Change -37.65% -6.55% 60.86%
Gross Profit $468.8M $398.1M $407.8M
YoY Change 14.96% 12.11% 37.31%
Gross Profit Margin 28.72% 19.58% 17.82%
Selling, General & Admin $44.90M $25.60M $43.00M
YoY Change 4.42% -34.36% 14.06%
% of Gross Profit 9.58% 6.43% 10.54%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $165.8M $97.90M $87.70M
YoY Change 89.05% 33.74% 27.1%
% of Gross Profit 35.37% 24.59% 21.51%
Operating Expenses $344.4M $235.2M $239.1M
YoY Change 44.04% 12.0% 14.68%
Operating Profit $115.3M $163.1M $168.7M
YoY Change -31.65% 12.41% 90.62%
Interest Expense -$72.00M -$36.40M -$32.20M
YoY Change 123.6% 15.56% 15.83%
% of Operating Profit -62.45% -22.32% -19.09%
Other Income/Expense, Net $2.000M
YoY Change
Pretax Income $44.80M $106.7M $135.9M
YoY Change -67.03% -6.07% 117.79%
Income Tax $24.00M $14.40M $15.50M
% Of Pretax Income 53.57% 13.5% 11.41%
Net Earnings $20.80M $25.50M $30.70M
YoY Change -32.25% 24.39% 88.34%
Net Earnings / Revenue 1.27% 1.25% 1.34%
Basic Earnings Per Share $0.23
Diluted Earnings Per Share $0.23 $605.7K $729.2K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding 56.10M 42.10M

Balance Sheet

Concept 2015 Q3 2014 Q4 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $103.0M $81.00M $79.00M
YoY Change 30.38% 20.9% -5.95%
Cash & Equivalents $102.9M $81.00M $79.00M
Short-Term Investments
Other Short-Term Assets $126.0M $65.00M $25.00M
YoY Change 404.0% 209.52% 0.0%
Inventory $151.0M $169.0M $251.0M
Prepaid Expenses
Receivables $621.0M $567.0M $698.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.001B $883.0M $1.053B
YoY Change -4.94% -1.56% 30.16%
LONG-TERM ASSETS
Property, Plant & Equipment $9.750B $4.825B $4.694B
YoY Change 107.71% 10.92% 14.24%
Goodwill $551.4M $0.00
YoY Change
Intangibles
YoY Change
Long-Term Investments $264.0M $50.20M $52.00M
YoY Change 407.69% -10.2% 1.96%
Other Assets $156.0M $104.0M $86.00M
YoY Change 81.4% 13.04% -9.47%
Total Long-Term Assets $12.37B $5.541B $5.439B
YoY Change 127.48% 7.54% 10.64%
TOTAL ASSETS
Total Short-Term Assets $1.001B $883.0M $1.053B
Total Long-Term Assets $12.37B $5.541B $5.439B
Total Assets $13.37B $6.424B $6.492B
YoY Change 106.0% 6.19% 13.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $417.0M $417.0M $574.0M
YoY Change -27.35% -19.96% 27.27%
Accrued Expenses $99.00M $83.00M $89.00M
YoY Change 11.24% 9.21% 18.67%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $136.0M $183.0M
YoY Change
Total Short-Term Liabilities $862.0M $827.0M $803.0M
YoY Change 7.35% 7.4% 16.89%
LONG-TERM LIABILITIES
Long-Term Debt $5.939B $2.885B $3.137B
YoY Change 89.32% -3.49% 9.38%
Other Long-Term Liabilities $81.00M $63.00M $67.00M
YoY Change 20.9% 1.61% 11.67%
Total Long-Term Liabilities $6.020B $2.948B $3.204B
YoY Change 87.89% -1.38% 9.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $862.0M $827.0M $803.0M
Total Long-Term Liabilities $6.020B $2.948B $3.204B
Total Liabilities $11.94B $6.284B $6.332B
YoY Change 88.5% 6.51% 13.6%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.482B $170.0M $160.0M
YoY Change
Total Liabilities & Shareholders Equity $13.42B $6.454B $6.492B
YoY Change 106.69% 6.7% 13.4%

Cashflow Statement

Concept 2015 Q3 2014 Q4 2014 Q3
OPERATING ACTIVITIES
Net Income $20.80M $25.50M $30.70M
YoY Change -32.25% 24.39% 88.34%
Depreciation, Depletion And Amortization $165.8M $97.90M $87.70M
YoY Change 89.05% 33.74% 27.1%
Cash From Operating Activities $211.3M $242.7M $94.60M
YoY Change 123.36% 129.61% -0.84%
INVESTING ACTIVITIES
Capital Expenditures -$189.1M -$190.5M -$152.1M
YoY Change 24.33% -37.38% -42.32%
Acquisitions
YoY Change
Other Investing Activities -$7.300M $300.0K $4.600M
YoY Change -258.7% -99.13% -124.34%
Cash From Investing Activities -$196.4M -$190.2M -$147.5M
YoY Change 33.15% -29.5% -47.81%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -17.70M -50.30M 55.80M
YoY Change -131.72% -134.19% -70.32%
NET CHANGE
Cash From Operating Activities 211.3M 242.7M 94.60M
Cash From Investing Activities -196.4M -190.2M -147.5M
Cash From Financing Activities -17.70M -50.30M 55.80M
Net Change In Cash -2.800M 2.200M 2.900M
YoY Change -196.55% -112.94% 262.5%
FREE CASH FLOW
Cash From Operating Activities $211.3M $242.7M $94.60M
Capital Expenditures -$189.1M -$190.5M -$152.1M
Free Cash Flow $400.4M $433.2M $246.7M
YoY Change 62.3% 5.68% -31.3%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2014Q4 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
111100000
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
56100000
CY2014Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
638500000
CY2014Q4 us-gaap Interest Payable Current
InterestPayableCurrent
37300000
us-gaap Interest Paid Net
InterestPaidNet
90300000
us-gaap Interest Paid Net
InterestPaidNet
163400000
CY2015Q3 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
688900000
CY2015Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
28500000
CY2014Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
15600000
CY2015Q3 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
42800000
CY2014Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
11700000
CY2015Q3 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
101700000
CY2015Q3 us-gaap Assets
Assets
13418200000
us-gaap Cash Dividends Paid To Parent Company By Unconsolidated Subsidiaries
CashDividendsPaidToParentCompanyByUnconsolidatedSubsidiaries
11200000
CY2014Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
46100000
CY2015Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
30700000
CY2015Q3 us-gaap Gas Purchase Payable Current
GasPurchasePayableCurrent
416500000
CY2014Q4 us-gaap Gas Purchase Payable Current
GasPurchasePayableCurrent
416700000
CY2015Q3 us-gaap Goodwill
Goodwill
551400000
CY2015Q3 us-gaap Interest Payable Current
InterestPayableCurrent
68700000
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42100000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42100000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
52700000

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