$TRGP
Targa Resources Corp.

2016 Q1 Form 10-Q Financial Statement

#000156459016018893 Filed on May 10, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $1.171B $1.402B
YoY Change -16.49% -38.89%
Cost Of Revenue $1.011B $1.268B
YoY Change -20.29% -33.77%
Gross Profit $431.4M $421.1M
YoY Change 2.45% 10.93%
Gross Profit Margin 36.84% 30.03%
Selling, General & Admin $45.30M $42.50M
YoY Change 6.59% 11.84%
% of Gross Profit 10.5% 10.09%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $193.5M $118.6M
YoY Change 63.15% 48.99%
% of Gross Profit 44.85% 28.16%
Operating Expenses $371.9M $273.0M
YoY Change 36.23% 23.42%
Operating Profit $35.50M $138.5M
YoY Change -74.37% -12.56%
Interest Expense -$57.70M -$52.90M
YoY Change 9.07% 82.41%
% of Operating Profit -162.54% -38.19%
Other Income/Expense, Net -$100.0K -$26.00M
YoY Change -99.62%
Pretax Income $2.400M $50.90M
YoY Change -95.28% -60.66%
Income Tax $3.100M $15.20M
% Of Pretax Income 129.17% 29.86%
Net Earnings -$2.700M $3.200M
YoY Change -184.38% -83.67%
Net Earnings / Revenue -0.23% 0.23%
Basic Earnings Per Share -$0.06 $0.07
Diluted Earnings Per Share -$0.06 $0.07
COMMON SHARES
Basic Shares Outstanding 106.6M 45.80M
Diluted Shares Outstanding 106.6M 45.90M

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $115.0M $171.0M
YoY Change -32.75% 80.0%
Cash & Equivalents $114.5M $172.4M
Short-Term Investments
Other Short-Term Assets $28.90M $143.0M
YoY Change -79.79% 793.75%
Inventory $61.70M $78.00M
Prepaid Expenses
Receivables $428.4M $676.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $715.9M $1.068B
YoY Change -32.97% 31.85%
LONG-TERM ASSETS
Property, Plant & Equipment $9.735B $9.833B
YoY Change -1.0% 120.27%
Goodwill $393.0M $707.0M
YoY Change -44.41%
Intangibles $1.602B
YoY Change
Long-Term Investments $254.9M $323.0M
YoY Change -21.08% 498.15%
Other Assets $60.50M $171.0M
YoY Change -64.62% 92.13%
Total Long-Term Assets $12.28B $12.30B
YoY Change -0.14% 134.53%
TOTAL ASSETS
Total Short-Term Assets $715.9M $1.068B
Total Long-Term Assets $12.28B $12.30B
Total Assets $13.00B $13.37B
YoY Change -2.76% 120.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $323.0M $446.0M
YoY Change -27.58% -15.53%
Accrued Expenses $82.00M $80.00M
YoY Change 2.5% 21.21%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $150.0M $198.0M
YoY Change -24.24%
Total Short-Term Liabilities $693.0M $983.0M
YoY Change -29.5% 29.68%
LONG-TERM LIABILITIES
Long-Term Debt $4.921B $5.838B
YoY Change -15.7% 101.87%
Other Long-Term Liabilities $155.8M $82.00M
YoY Change 90.0% 22.39%
Total Long-Term Liabilities $5.077B $5.920B
YoY Change -14.24% 100.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $693.0M $983.0M
Total Long-Term Liabilities $5.077B $5.920B
Total Liabilities $5.770B $12.11B
YoY Change -52.36% 104.89%
SHAREHOLDERS EQUITY
Retained Earnings -$2.700M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $28.90M
YoY Change
Treasury Stock Shares $435.8K
Shareholders Equity $5.333B $1.514B
YoY Change
Total Liabilities & Shareholders Equity $12.95B $13.63B
YoY Change -4.96% 125.02%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income -$2.700M $3.200M
YoY Change -184.38% -83.67%
Depreciation, Depletion And Amortization $193.5M $118.6M
YoY Change 63.15% 48.99%
Cash From Operating Activities $241.3M $292.6M
YoY Change -17.53% -8.19%
INVESTING ACTIVITIES
Capital Expenditures $190.1M $187.6M
YoY Change 1.33% -194.89%
Acquisitions $745.7M
YoY Change
Other Investing Activities $1.300M $7.800M
YoY Change -83.33% 95.0%
Cash From Investing Activities -$188.0M -$1.793B
YoY Change -89.51% 825.55%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $336.2M
YoY Change 206.19%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -79.00M 1.590B
YoY Change -104.97% -1742.46%
NET CHANGE
Cash From Operating Activities 241.3M 292.6M
Cash From Investing Activities -188.0M -1.793B
Cash From Financing Activities -79.00M 1.590B
Net Change In Cash -25.70M 89.70M
YoY Change -128.65% 218.09%
FREE CASH FLOW
Cash From Operating Activities $241.3M $292.6M
Capital Expenditures $190.1M $187.6M
Free Cash Flow $51.20M $105.0M
YoY Change -51.24% -79.67%

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<div> <p style="text-align:justify;margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Note 1 &#8212; Organization</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Targa Resources Corp. (&#8220;TRC&#8221;) is a publicly traded Delaware corporation formed in October 2005. Our common stock is listed on the New York Stock Exchange under the symbol &#8220;TRGP.&#8221; In this Quarterly Report, unless the context requires otherwise, references to &#8220;we,&#8221; &#8220;us,&#8221; &#8220;our,&#8221; &#8220;the Company&#8221; or &#8220;Targa&#8221; are intended to mean our consolidated business and operations.</p></div>
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CY2015Q4 trgp Number Of Partnership Common Units Owned
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0.62
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CY2015Q3 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
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us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
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CY2015Q3 us-gaap Other Comprehensive Income Loss Tax
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25200000
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