TARGA RESOURCES CORP. TRGP Income Statement

Targa resources corp. (TRGP)

Income statement / 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	Sep'10	Jun'10
Revenues:
Total revenues
2,048	2,473	1,902	1,995	2,299	2,597	2,986	2,444	2,455	2,702	2,131	1,867	2,112	2,012	1,652	1,583	1,442	1,647	1,632	1,699	1,679	2,032	2,288	2,000	2,294	2,009	1,466	1,441	1,397	1,320	1,393	1,319	1,645	1,934	1,713	1,728	1,618	1,220	1,240
Costs and expenses:
Product purchases
1,188	1,702	1,328	1,361	1,726	2,008	2,383	1,905	1,941	2,168	1,663	1,420	1,654	1,544	1,222	1,145	1,011	1,187	1,163	1,228	1,258	1,580	1,880	1,616	1,915	1,615	1,169	1,176	1,137	1,060	1,153	1,074	1,384	4,476	1,485	1,477	-1,401	1,033	1,057
Operating expenses
194	192	200	210	190	183	194	170	173	160	155	155	151	139	143	138	132	130	142	145	121	163	112	106	104	135	97	96	86	85	78	77	71	204	76	71	-65	66	61
Depreciation and amortization expense
239	252	244	237	237	208	206	202	198	206	208	203	191	194	184	186	193	196	165	163	118	97	87	85	79	73	69	65	64	53	48	48	47	133	45	45	-43	50	43
General and administrative expense
60	56	69	72	81	80	63	57	56	53	49	51	48	48	46	47	45	25	44	49	42	25	43	41	38	39	37	38	36	33	35	35	34	100	35	35	-34	27	28
Impairment of long-lived assets
2,442	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment of property, plant and equipment
-	-	-	-	-	-	-	-	-	-	378	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment of goodwill
-	-	-	-	-	-	-	-	-	-	-	-	-	183	0	0	24	290	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other operating (income) expense
-1	-49	-18	0	-3	12	-61	46	-0	-0	-0	-0	-16	-0	-4	-0	-1	7	-0	0	-0	-2	4	0	0	-1	-4	-4	0	-	-18	0	-	-	0	-	-	-0	-
Total costs and expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,541	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,545	1,176	1,191
Income (loss) from operations
-2,077	-23	41	113	61	-80	76	155	86	113	-323	37	50	-97	51	66	35	-206	115	112	138	163	168	150	158	144	88	60	73	86	59	83	107	108	70	98	73	43	48
Other income (expense):
Interest expense, net
-98	-96	-89	-72	-80	-61	-78	-62	16	-52	-56	-62	-63	-67	-62	-71	-52	-42	-67	-67	-54	-40	-36	-35	-33	-232	33	32	32	-211	30	30	30	28	26	28	28	30	26
Equity earnings (loss)
20	23	10	3	2	0	3	1	1	-0	0	-4	-12	-2	-2	-4	-4	-1	-1	-1	1	4	4	4	4	4	5	2	1	2	-2	-0	2	3	2	1	1	1	2
Gain (loss) from financing activities
39	0	0	0	-1	-	-	-2	-	-0	0	-10	-5	-69	0	-3	24	3	-0	-3	-9	-12	0	0	0	-	-7	-7	-	-	0	0	-	-	-	-	-	0	0
Gain (loss) from sale of equity-method investment
-	-	65	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in contingent considerations
-	-0	-0	-0	9	-20	16	-60	56	26	-126	-2	3	-	-0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (loss) on early debt extinguishment, net (See Note 10)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-10	-10
Loss on mark-to-market derivative instruments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1	-3	-	-0	0
Other, net
-	-	-	-	-	-	-	-	-	0	0	2	-5	-0	1	-0	-0	-0	-0	-0	-26	-7	-0	-0	0	-0	9	6	-0	-6	-1	-0	0	-0	-0	0	-0	0	0
Income (loss) before income taxes
-2,115	-93	28	45	-27	-120	-15	153	47	34	-252	-35	-39	-237	-11	-12	2	-246	44	38	50	107	135	118	129	113	62	30	43	39	25	52	79	82	43	68	46	4	14
Income tax (expense) benefit:
Current
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	17	16	23	19	6	7	9	7	4	7	8	17	-2	4	-5	0	-0
Deferred
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1	-1	-1	-1	6	0	0	4	1	1	1	2	9	0	-0	-9	-6
Income tax (expense) benefit
-295	-77	-3	-3	-2	-32	-3	32	8	-264	-97	-106	71	-96	-8	1	3	-14	24	14	15	14	15	15	22	17	13	8	9	12	6	8	10	8	7	5	5	8	6
Net income (loss)
-1,820	-15	32	48	-24	-88	-11	121	38	299	-155	70	-110	-140	-3	-14	-0	-231	20	23	35	92	120	103	106	95	49	22	33	27	19	43	69	74	36	63	40	-4	7
Less: Net income (loss) attributable to noncontrolling interests
-82	97	79	59	14	18	12	12	16	15	12	13	8	10	7	8	2	-258	8	8	32	66	89	76	87	75	33	7	20	16	10	34	59	66	31	52	34	13	19
Net income (loss) attributable to Targa Resources Corp.
-1,737	-112	-47	-10	-38	-106	-23	109	22	283	-167	57	-119	-150	-10	-23	-2	27	12	15	3	-	30	26	-	-	-	-	-	-	-	-	-	-	4	10	6	-17	-11
Dividends on Series A Preferred Stock
22	23	22	22	22	23	22	22	22	23	22	22	22	23	22	22	3	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1	2
Deemed dividends on Series A Preferred Stock
9	8	8	8	7	7	7	7	7	6	6	6	6	5	5	6	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income (loss) attributable to common shareholders
-1,769	-144	-78	-41	-69	-137	-54	79	-7	253	-197	28	-148	-179	-39	-52	-6	27	12	15	3	-	-	-	19	-	16	15	13	11	8	8	9	-	-	-	-	-18	-191
Net income (loss) per common share - basic
-7.60	-0.62	-0.34	-0.18	-0.30	-0.62	-0.24	0.36	-0.03	1.23	-0.91	0.14	-0.77	-1.18	-0.23	-0.33	-0.06	0.52	0.23	0.27	0.07	0.61	0.73	0.63	0.47	0.49	0.39	0.36	0.32	0.28	0.21	0.21	0.23	0.20	0.12	0.26	0.17	-3.77	-48.10
Net income (loss) per common share - diluted
-7.60	-0.62	-0.34	-0.18	-0.30	-0.61	-0.24	0.35	-0.03	1.23	-0.91	0.14	-0.77	-1.18	-0.23	-0.33	-0.06	0.52	0.23	0.27	0.07	0.60	0.73	0.63	0.47	0.48	0.39	0.36	0.32	0.26	0.21	0.21	0.23	0.21	0.12	0.25	0.16	-3.77	-48.10
Weighted average shares outstanding - basic
233	232	232	232	232	230	226	221	218	216	215	203	191	181	168	161	106	56	56	55	45	42	42	42	42	41	41	41	41	41	41	41	41	41	41	41	40	5	4
Weighted average shares outstanding - diluted
233	232	232	232	232	228	226	222	218	215	215	205	191	181	168	161	106	56	56	56	45	42	42	42	42	42	42	42	42	41	41	41	41	41	41	41	41	5	4
Dividends per common share declared for the period
-	-	-	-	-	-	-	-	-	-	0.91	0.91	0.91	-	0.91	0.91	0.91	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	177,800,000.00
Sales of Commodities [Member]
Total revenues
1,779	2,138	1,594	1,684	1,976	2,296	2,654	2,154	2,173	2,397	1,871	1,623	1,858	1,744	1,398	1,312	1,171	1,345	1,321	1,396	1,402	-	2,009	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fees from Midstream Services [Member]
Total revenues
269	335	308	311	322	300	332	290	281	305	260	243	254	268	253	270	271	301	310	303	277	-	279	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-