TARGA RESOURCES CORP. TRGP Cash Flow

Targa resources corp. (TRGP)

CashFlow / TTM

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)
-1,754	41	-31	-75	-3	60	447	304	253	104	-335	-183	-268	-159	-250	-226	-187	-151	172	272	351	423	426	355	274	201	133	102	123	159	206	223	243	215	0	0	0
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Amortization in interest expense
10	10	10	10	10	10	10	11	11	11	11	12	13	14	16	16	16	15	13	12	11	11	13	14	15	15	15	16	17	18	20	16	15	13	0	0	0
Compensation on equity grants
60	60	64	62	59	56	51	47	44	42	39	36	32	29	28	27	27	25	22	19	16	14	14	13	13	13	14	15	16	17	16	16	16	15	0	0	0
Depreciation and amortization expense
973	971	927	889	855	815	813	815	816	809	796	772	755	757	759	741	719	644	546	468	390	351	326	307	287	271	252	231	214	197	191	188	185	181	0	0	0
Impairment of long-lived assets
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment of goodwill
-	-	-	-	-	-	-	-	-	-	-	-	-	207	314	314	314	290	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accretion of asset retirement obligations
4	4	4	4	3	3	3	3	3	3	4	4	4	4	4	4	5	5	5	5	4	4	4	4	4	4	4	4	4	4	3	3	3	3	0	0	0
Increase (decrease) in redemption value of mandatorily redeemable preferred interests
-	-	-	-	-	72	71	79	71	-3	-12	-6	-5	15	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income tax expense (benefit)
-363	-87	-42	-42	-6	5	-222	-316	-457	-392	-166	-77	32	-37	-21	10	21	24	41	16	3	-4	-5	2	3	5	11	7	7	9	5	14	13	12	0	0	0
Equity (earnings) loss of unconsolidated affiliates
56	39	16	9	8	7	6	3	-2	-17	-19	-21	-22	-14	-12	-12	-9	-2	3	9	15	18	0	0	0	-	-	-	-	-	-	-	-	-	-	-	0
Distributions of earnings received from unconsolidated affiliates
65	49	30	25	21	20	20	18	14	12	0	0	0	-	-	-	-	-13	-41	-20	-20	-18	15	16	15	12	12	6	3	1	0	0	0	-	-	-	-
Risk management activities
9	-112	-101	0	-6	-9	-12	-15	-12	-10	-21	-28	-30	-26	-29	-42	-69	-71	-57	-36	-11	-4	-0	1	0	0	-1	-2	-2	-3	38	18	20	21	0	0	0
(Gain) loss on sale or disposition of assets
-68	-71	10	-49	-3	0	-13	47	0	-15	-17	-21	-21	-6	2	6	7	8	-0	3	3	4	4	1	-3	-3	-3	-19	-15	-15	0	0	0	-	-	-	-
(Gain) loss from financing activities
39	-1	0	0	0	-	-	-	-	-16	-86	-86	-78	-48	24	24	23	-10	-25	-25	-21	-12	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Change in contingent considerations
-	8	-12	4	-55	-8	38	-105	-46	-99	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in operating assets and liabilities, net of business acquisitions:
Receivables and other assets
-280	24	-317	-185	51	6	313	332	137	20	61	-61	76	222	-20	-123	-239	-235	-253	-253	-123	-90	204	252	181	143	45	28	-73	-98	-136	-135	14	101	0	0	0
Inventories
-77	45	87	99	184	13	-46	-4	16	73	124	96	24	15	17	4	-1	-41	-112	-39	-5	36	92	52	57	84	109	43	4	-6	-50	24	44	41	0	0	0
Accounts payable and other liabilities
-398	80	-265	-65	233	57	474	302	157	100	42	-40	95	176	43	-17	-192	-186	-324	-330	-221	-104	150	226	132	83	106	62	-0	-113	-143	-191	46	102	0	0	0
Net cash provided by operating activities
1,534	1,389	1,148	1,152	1,097	1,144	1,322	1,018	975	939	808	844	914	837	899	1,008	1,004	1,034	938	821	714	761	624	625	508	382	415	405	482	428	504	361	448	379	0	0	0
Cash flows from investing activities
Outlays for property, plant and equipment
2,276	2,877	3,515	3,703	3,462	3,114	2,464	1,932	1,749	1,297	1,003	782	516	562	616	688	819	817	815	778	752	762	858	969	989	1,013	944	807	701	582	482	432	377	331	0	0	0
Outlays for business acquisition, net of cash acquired
-	-	-	-	-	-	-	-	-	570	0	0	0	-	-	-	-	1,574	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Return of capital from unconsolidated affiliate
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-
Unconsolidated affiliate distributions in excess of accumulated earnings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Proceeds from sale of business and assets
149	14	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Investments in unconsolidated affiliates
150	266	302	334	311	282	225	151	97	9	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	16	26	28	23	21	0	0	0
Business acquisitions, net of cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	156	0	0	0
Purchase of material and supplies
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-
Return of capital from unconsolidated affiliates
0	-	-	-	-	5	0	0	0	-	-	-	-	4	3	5	4	1	2	2	4	5	2	3	2	0	0	0	0	-	-	-	-	-	-	-	-
Other, net
3	15	19	26	26	12	0	0	0	-	-	-	-	1	-9	-2	-9	-2	4	-1	4	-5	-24	-0	6	12	28	6	0	-4	0	0	0	-	-	-	0
Net cash used in investing activities
-2,204	-3,071	-3,574	-3,872	-3,538	-3,146	-2,628	-2,021	-1,944	-1,892	-1,594	-1,362	-996	-558	-613	-693	-818	-2,399	-2,398	-2,349	-2,326	-751	-831	-966	-993	-1,026	-1,943	-1,813	-1,709	-1,590	-523	-587	-527	-509	0	0	0
Debt obligations:
Proceeds from borrowings under credit facilities
3,125	3,100	3,590	3,365	2,360	2,235	1,570	1,415	2,346	2,701	3,231	3,181	2,785	2,322	1,858	1,731	1,564	2,488	3,324	3,366	3,488	2,492	1,790	1,883	2,373	2,238	3,218	3,175	2,375	2,595	0	0	0	-	-	-	-
Repayments of credit facilities
3,435	3,800	2,760	2,890	2,070	1,555	2,000	1,700	1,966	2,671	2,641	3,076	2,625	2,617	2,463	2,739	2,589	1,870	2,562	2,066	2,086	2,328	1,615	1,689	2,141	2,021	2,273	2,189	1,427	1,690	1,336	1,559	1,865	2,054	0	0	0
Borrowings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Proceeds from issuance of senior notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Cash paid on note exchange
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	27	0	0	0
Proceeds from borrowings under accounts receivable securitization facility
696	944	0	0	0	-	-	-	-	666	331	268	240	171	237	259	143	391	568	567	605	381	200	233	231	373	261	207	171	0	0	0	0	-	-	-	-
Repayments of accounts receivable securitization facility
735	854	920	901	917	616	813	788	576	591	278	243	105	115	148	158	191	355	670	677	641	478	131	124	109	93	93	82	60	0	0	0	0	-	-	-	-
Proceeds from issuance of senior notes and term loan
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,122	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Non-Partnership debt obligations:
Proceeds from borrowings under credit facility
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	168	134	74	65	-126	-120	-95	-90	0	0	0	-	-	-	-
Repayments of credit facility
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	74	65	64	63	144	130	111	96	0	0	0	-	-	-	-
Repayments on senior term loan
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Redemption of senior notes
122	749	0	0	0	-	-	-	-	698	0	0	0	-	-	-	-553	284	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Principal payments of finance leases
11	11	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of common stock
-	-	-	-	-	689	663	459	1,053	1,660	0	0	0	-	-	-	-	336	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of preferred stock and warrants
-	-	-	-	-	-	-	-	-	-	-	-	-	994	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of Partnership common and preferred units
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	443	471	543	330	412	405	458	527	524	772	630	506	514	132	127	127	310	0	0	0
Costs incurred in connection with financing arrangements
-	35	26	28	37	24	31	30	16	23	40	42	40	71	57	61	51	54	54	49	54	14	4	5	13	15	40	43	35	36	22	16	16	18	0	0	0
Repurchase of shares and units under compensation plans
7	13	13	13	13	4	4	3	3	3	3	3	3	3	3	5	6	8	10	11	9	7	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of noncontrolling interests in subsidiary
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	0	-	341	321	298	278	0	0	0	-	213	210	207	196	0	0	0
Contributions from noncontrolling interests
369	555	725	774	734	817	659	572	412	141	104	40	46	43	94	91	81	78	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributions to noncontrolling interests
278	191	118	72	72	70	66	60	54	48	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributions to Partnership unitholders
11	11	11	11	11	11	11	11	11	11	11	11	11	150	288	423	556	500	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends paid to common and Series A preferred shareholders
948	953	950	941	929	908	895	885	866	843	811	767	714	565	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments of distribution equivalent rights
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repurchase of common stock under TRC compensation plans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	15	14	14	13	0	0	0	-	-	-	-	-	-	-	-
Dividends to common shareholders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	108	100	94	87	79	73	67	62	57	53	49	38	0	0	0
Net cash provided by (used in) financing activities
920	1,781	2,548	2,664	2,346	2,097	1,394	1,185	1,109	1,016	758	445	46	-345	-248	-249	-244	1,424	1,484	1,557	1,690	3	201	333	467	634	1,491	1,373	1,218	1,093	-15	188	52	87	0	0	0
Net change in cash and cash equivalents
250	99	123	-55	-94	94	89	182	139	63	-27	-72	-34	-66	38	65	-57	59	24	29	77	14	-4	-7	-17	-9	-37	-34	-8	-69	-33	-37	-26	-42	0	0	0