TARGA RESOURCES CORP. TRGP Cash Flow

Targa resources corp. (TRGP)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
Cash flows from operating activities
Net income (loss)
-1,820,300	-15,100	32,100	48,900	-24,700	-88,200	-11,400	121,100	38,900	299,200	-155,100	70,600	-110,500	-140,700	-3,200	-14,500	-700	-232,000	20,900	24,000	35,700	92,300	120,500	103,300	106,900	95,700	49,400	22,400	33,800	27,600	19,100	43,400	69,200	74,800	36,500	63,300	40,800
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Amortization in interest expense
2,800	2,700	2,500	2,500	2,600	2,700	2,500	2,900	2,700	2,700	2,900	2,800	3,100	2,800	3,900	4,000	4,200	4,100	4,000	4,000	3,200	2,600	2,300	3,300	3,600	3,800	4,000	4,000	4,100	3,500	5,200	4,700	4,800	5,800	1,300	4,000	1,900
Compensation on equity grants
17,000	11,300	16,300	16,200	16,500	15,600	13,800	13,700	13,200	10,600	10,200	10,700	10,800	7,500	7,000	7,200	8,000	6,000	6,600	6,500	5,900	3,500	3,300	3,300	4,200	3,200	3,200	3,000	3,800	4,500	4,200	4,300	4,500	3,800	3,700	4,400	3,300
Depreciation and amortization expense
239,100	252,700	244,300	237,200	237,400	208,800	206,400	202,600	198,100	206,700	208,200	203,500	191,100	194,100	184,000	186,100	193,500	196,200	165,800	163,900	118,600	97,900	87,700	85,800	79,600	73,200	69,000	65,700	64,000	53,300	48,600	48,300	47,400	46,700	45,600	45,300	43,400
Impairment of long-lived assets
2,442,800	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment of goodwill
-	-	-	-	-	-	-	-	-	-	-	-	-	183,000	0	0	24,000	290,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accretion of asset retirement obligations
700	1,000	1,400	1,300	1,000	900	900	1,000	900	900	800	900	1,300	1,100	1,200	1,100	1,200	1,300	1,300	1,400	1,300	1,200	1,100	1,000	1,200	1,000	1,000	900	1,100	1,000	1,000	1,000	1,000	900	900	900	900
Increase (decrease) in redemption value of mandatorily redeemable preferred interests
-	-	-	-	-	5,800	-9,100	2,900	72,500	5,200	-1,600	-4,400	-2,500	-3,600	4,200	-3,900	18,500	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income tax expense (benefit)
-278,400	-77,900	-3,800	-3,300	-2,900	-32,200	-3,900	32,700	8,900	-260,100	-98,100	-107,900	73,400	-33,900	-8,700	1,700	3,100	-17,300	23,400	12,400	6,100	-200	-1,800	-1,000	-1,400	-1,600	6,300	500	200	4,600	1,700	1,300	1,400	1,400	9,900	700	300
Equity (earnings) loss of unconsolidated affiliates
20,600	23,100	10,000	3,100	2,800	900	3,000	1,900	1,500	-400	200	-4,200	-12,600	-2,900	-2,200	-4,400	-4,800	-1,400	-1,600	-1,400	1,900	4,200	4,700	4,200	4,900	-	-	-	-	-	-	-	-	-	-	-	1,700
Distributions of earnings received from unconsolidated affiliates
21,100	23,600	11,600	9,600	4,800	4,800	6,300	5,500	4,200	4,100	4,400	1,300	2,700	-	-	-	-	-3,700	-17,000	4,700	2,200	-31,800	4,700	4,200	4,900	1,900	5,600	2,900	1,600	2,200	-300	0	0	-	-	-	-
Risk management activities
115,500	-12,000	-100,700	7,100	-7,200	-200	800	500	-10,900	-2,800	-2,000	3,300	-8,500	-14,300	-8,500	1,200	-4,400	-17,900	-21,700	-25,000	-6,500	-3,800	-1,600	400	300	300	0	-200	200	-1,900	-600	-200	-900	40,000	-20,000	900	300
(Gain) loss on sale or disposition of assets
-600	-67,500	-500	100	-3,200	14,400	-61,100	46,700	100	700	-400	-100	-16,100	-400	-4,800	0	-900	7,800	0	900	-700	-800	4,400	400	800	-800	700	-3,900	100	-100	-15,600	100	0	-	-	-	-
(Gain) loss from financing activities
39,300	0	0	0	-1,400	-	-	-	-	-300	0	-10,700	-5,800	-69,600	0	-3,300	24,700	3,300	-500	-3,800	-9,100	-12,400	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Change in contingent considerations
-	-100	-100	-800	9,700	-20,900	16,600	-60,600	56,100	26,000	-126,800	-2,100	3,300	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in operating assets and liabilities, net of business acquisitions:
Receivables and other assets
-383,000	123,100	84,000	-104,200	-78,200	-219,100	216,500	132,500	-123,700	87,900	236,000	-62,600	-241,200	128,800	113,700	75,100	-94,700	-114,300	10,100	-41,000	-90,700	-131,500	9,600	89,000	-57,300	163,300	57,900	17,500	-95,100	64,900	41,100	-84,400	-119,600	26,000	42,100	65,600	-32,400
Inventories
-62,300	-44,700	13,000	16,100	60,600	-2,700	25,900	100,900	-110,200	-63,200	67,800	122,300	-53,700	-11,900	40,200	49,900	-62,300	-10,200	26,700	44,500	-102,400	-81,600	99,700	78,700	-60,600	-25,800	60,600	83,400	-33,700	-1,100	-5,200	44,600	-44,300	-45,800	69,500	64,700	-47,300
Accounts payable and other liabilities
-442,700	72,800	116,100	-144,700	36,600	-273,000	315,700	153,800	-139,300	144,600	142,900	9,600	-196,900	86,700	60,100	145,200	-115,900	-46,300	-900	-29,800	-109,200	-184,700	-6,400	78,600	7,800	70,200	69,900	-15,500	-41,000	92,800	25,800	-77,700	-154,300	62,300	-21,400	159,900	-98,200
Net cash provided by operating activities
452,600	470,800	366,700	244,700	307,600	229,400	370,900	189,300	354,400	407,600	67,400	145,800	318,700	276,700	103,200	216,200	241,300	339,200	211,300	212,900	271,300	242,700	94,600	105,800	318,700	105,700	95,400	-11,300	192,900	138,000	86,200	65,200	138,800	214,700	-56,900	151,400	70,100
Cash flows from investing activities
Outlays for property, plant and equipment
341,700	443,700	683,100	807,700	943,300	1,081,200	871,100	566,600	595,900	430,900	339,000	383,400	144,200	137,100	117,300	117,600	190,100	191,900	189,100	248,600	187,600	190,500	152,100	221,900	197,700	286,500	263,700	241,600	221,800	217,600	126,400	135,700	103,000	117,600	76,100	81,200	57,000
Outlays for business acquisition, net of cash acquired
-	-	-	-	-	-	-	-	-	0	0	90,000	480,800	-	-	-	-	0	0	0	1,574,400	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Return of capital from unconsolidated affiliate
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-100	-300	-	-	-	-
Unconsolidated affiliate distributions in excess of accumulated earnings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Proceeds from sale of business and assets
134,800	12,100	300	1,900	500	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Investments in unconsolidated affiliates
1,400	23,100	48,900	77,400	117,400	58,300	81,100	54,600	88,000	2,000	6,900	100	500	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	3,100	7,500	6,200	9,300	5,900	1,600	4,400
Business acquisitions, net of cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-7,700	135,200	0	29,000
Purchase of material and supplies
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-
Return of capital from unconsolidated affiliates
2,800	-	-	-	-	3,300	200	500	1,500	-	-	-	-	700	-500	500	3,400	100	1,000	-500	600	1,500	600	1,400	2,200	-1,900	1,900	0	0	-	-	-	-	-	-	-	-
Other, net
-3,600	-400	-2,800	10,100	9,000	3,300	3,900	10,400	-5,100	-	-	-	-	5,200	-5,600	100	1,300	-5,500	1,700	-6,500	7,800	1,200	-4,000	-500	-1,800	-18,600	20,800	5,900	4,600	-2,900	-700	-100	-800	-	-	-	0
Net cash used in investing activities
-201,900	-451,900	-657,600	-893,200	-1,069,200	-954,100	-955,900	-559,600	-677,300	-435,200	-348,900	-483,100	-625,500	-136,600	-116,800	-117,200	-188,000	-191,400	-196,400	-242,600	-1,769,200	-190,200	-147,500	-220,000	-193,700	-269,800	-282,600	-247,500	-226,400	-1,186,900	-152,700	-143,000	-108,100	-119,200	-217,500	-82,200	-90,400
Debt obligations:
Proceeds from borrowings under credit facilities
790,000	470,000	860,000	1,005,000	765,000	960,000	635,000	0	640,000	295,000	480,000	931,000	995,000	825,000	430,000	535,000	532,000	361,000	303,000	368,000	1,456,000	1,197,000	345,000	490,000	460,000	495,000	438,000	980,000	325,000	1,475,000	395,000	180,000	545,000	-	-	-	-
Repayments of credit facilities
430,000	1,300,000	220,000	1,485,000	795,000	260,000	350,000	665,000	280,000	705,000	50,000	931,000	985,000	675,000	485,000	480,000	977,000	521,000	761,000	330,000	258,000	1,213,800	265,000	350,000	500,000	500,000	339,800	801,400	380,000	752,700	255,000	40,000	643,000	398,000	478,000	346,300	832,000
Borrowings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-268,000
Proceeds from issuance of senior notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-325,000
Cash paid on note exchange
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	27,700
Proceeds from borrowings under accounts receivable securitization facility
130,000	174,200	27,100	364,900	378,000	-	-	-	-	385,000	63,100	143,500	75,000	50,000	0	115,700	5,700	116,100	22,100	0	253,400	293,000	21,100	38,300	29,500	111,700	53,900	36,300	171,400	0	0	0	0	-	-	-	-
Repayments of accounts receivable securitization facility
231,900	50,200	79,400	374,200	350,400	116,600	60,000	390,000	50,000	313,100	35,000	178,500	65,000	0	0	40,700	75,000	32,300	10,800	73,700	238,300	347,800	17,800	37,500	75,700	0	11,200	22,400	60,000	0	0	0	0	-	-	-	-
Proceeds from issuance of senior notes and term loan
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	600,000	-7,500	1,530,000	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Non-Partnership debt obligations:
Proceeds from borrowings under credit facility
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	28,000	35,000	4,000	101,000	-6,000	-25,000	-5,000	-90,000	0	0	0	-	-	-	-
Repayments of credit facility
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	23,000	20,000	16,000	15,000	14,000	19,000	15,000	96,800	0	0	0	-	-	-	-
Repayments on senior term loan
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	82,000	188,000	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Redemption of senior notes
122,100	0	0	0	749,400	-	-	-	-	250,500	0	287,600	160,000	-	-	-	330,600	-884,500	0	0	1,168,800	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Principal payments of finance leases
3,100	3,000	3,000	2,800	2,700	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of common stock
-	-	-	-	-	112,500	204,100	314,300	58,100	87,000	0	908,600	664,800	-	-	-	-	1,300	-1,100	400	336,200	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of preferred stock and warrants
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	994,100	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of Partnership common and preferred units
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	125,000	22,800	267,600	28,200	152,800	95,200	54,100	110,600	145,100	148,400	123,800	107,400	393,300	5,500	0	115,200	12,000	0	-100	298,100
Costs incurred in connection with financing arrangements
-	10,300	0	12,400	12,800	1,400	1,600	21,300	400	8,400	200	7,200	7,700	25,300	1,800	5,800	38,500	11,300	5,900	-4,600	41,700	11,600	1,000	500	1,200	1,700	1,900	8,500	3,200	26,600	5,500	100	4,400	12,000	0	0	6,200
Repurchase of shares and units under compensation plans
3,100	400	3,900	0	9,600	0	3,600	0	400	300	2,500	100	500	400	2,800	200	200	500	4,100	2,100	2,100	2,600	4,800	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of noncontrolling interests in subsidiary
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,100	-	3,200	2,900	2,700	-	89,000	87,000	81,700	83,600	69,200	64,200	61,700	-	54,200	50,800	54,300	54,200	51,300	47,700	43,000
Contributions from noncontrolling interests
10,600	36,500	115,300	206,700	196,800	206,200	164,600	167,000	280,100	47,800	77,300	7,600	8,900	10,500	13,700	13,100	6,000	62,000	10,500	2,500	3,400	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributions to noncontrolling interests
105,100	92,800	63,000	17,300	18,600	19,100	17,800	17,300	16,500	14,700	12,000	11,700	9,700	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributions to Partnership unitholders
2,800	2,900	2,800	2,800	2,800	2,900	2,800	2,800	2,800	2,900	2,800	2,800	2,800	2,800	2,800	3,000	141,700	140,700	138,400	135,400	85,900	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends paid to common and Series A preferred shareholders
239,100	235,200	239,600	234,600	244,100	231,700	231,300	222,700	222,600	219,200	221,000	203,300	199,700	187,700	176,800	150,000	51,400	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments of distribution equivalent rights
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	300	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repurchase of common stock under TRC compensation plans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,800	0	800	13,300	0	0	0	-	-	-	-	-	-	-	-
Dividends to common shareholders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	32,400	-	29,500	27,200	25,500	26,000	22,200	20,600	19,000	17,300	16,100	15,000	13,800	12,600	11,900	11,100	2,600
Net cash provided by (used in) financing activities
-206,600	-14,100	390,700	750,100	654,400	753,600	506,600	432,100	405,500	50,700	296,900	356,000	313,300	-207,700	-16,200	-42,600	-79,000	-110,500	-17,700	-37,000	1,589,300	-50,300	55,800	95,200	-96,800	147,100	188,000	229,000	69,900	1,004,500	69,700	74,100	-55,300	-103,800	273,800	-62,200	-20,400
Net change in cash and cash equivalents
44,100	4,800	99,800	101,600	-107,200	28,900	-78,400	61,800	82,600	23,100	15,400	18,700	6,500	-67,600	-29,800	56,400	-25,700	37,300	-2,800	-66,700	91,400	2,200	2,900	-19,000	28,200	-17,000	800	-29,800	36,400	-44,400	3,200	-3,700	-24,600	-8,300	-600	7,000	-40,700