TARGA RESOURCES CORP. (TRGP) FY2024 Q3 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2024-07-01 to 2024-09-30

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TARGA RESOURCES CORP. cash flow reconciliation, Jul 1, 2024 through Sep 30, 2024One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Net income (loss) → Net cash from operating activities: $447,900,000.00Depreciation and amortization expense → Operating adjustments reconciliation: $355,400,000.00Deferred income tax expense (benefit) → Operating adjustments reconciliation: $93,300,000.00Compensation on equity grants → Operating adjustments reconciliation: $17,700,000.00Risk management activities → Operating adjustments reconciliation: $17,500,000.00Distributions of earnings received from unconsolidated affiliates → Operating adjustments reconciliation: $4,000,000.00Amortization in interest expense → Operating adjustments reconciliation: $3,700,000.00Write-downs of assets → Operating adjustments reconciliation: $2,800,000.00Accretion of asset retirement obligations → Operating adjustments reconciliation: $1,000,000.00Operating adjustments reconciliation → Net cash from operating activities: $93,000,000.00Operating adjustments reconciliation → Interest payable: $134,700,000.00Operating adjustments reconciliation → Inventories: $107,400,000.00Operating adjustments reconciliation → Accounts payable, accrued liabilities and other liabilities: $90,600,000.00Operating adjustments reconciliation → Receivables and other assets: $63,500,000.00Operating adjustments reconciliation → (Gain) loss on sale or disposition of assets: $3,900,000.00Operating adjustments reconciliation → Equity (earnings) loss of unconsolidated affiliates: $2,300,000.00Proceeds from borrowings of commercial paper notes → financing reconciliation: $23,174,000,000.00Proceeds from issuance of senior notes → financing reconciliation: $999,400,000.00Proceeds from borrowings under accounts receivable securitization facility → financing reconciliation: $650,000,000.00Contributions from noncontrolling interests → financing reconciliation: $3,000,000.00financing reconciliation → Net cash from financing activities: $267,200,000.00financing reconciliation → Repayments of commercial paper notes: $23,526,000,000.00financing reconciliation → Repayments of accounts receivable securitization facility: $600,000,000.00financing reconciliation → Repurchase of shares: $184,500,000.00financing reconciliation → Dividends paid to common shareholders: $166,400,000.00financing reconciliation → Distributions to noncontrolling interests: $59,400,000.00financing reconciliation → Principal payments of finance leases: $13,000,000.00financing reconciliation → Costs incurred in connection with financing arrangements: $9,900,000.00Net cash used in investing activities → investing reconciliation: $847,300,000.00Proceeds from sale of assets → investing reconciliation: $900,000.00Return of capital from unconsolidated affiliates → investing reconciliation: $400,000.00investing reconciliation → Outlays for property, plant and equipment: $828,800,000.00investing reconciliation → Investments in unconsolidated affiliates: $19,700,000.00investing reconciliation → Other, net: $100,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $166,400,000.00Net cash from operating activities → Cash sources and uses: $540,900,000.00Net cash from financing activities → Cash sources and uses: $267,200,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $127,200,000.00Cash sources and uses → Net cash used in investing activities: $847,300,000.00Net income (loss): $447,900,000.00Net income (loss)+$447.90 MAmortization in interest expense: $3,700,000.00Debt cost amortization+$3.70 MCompensation on equity grants: $17,700,000.00Stock-based compensation+$17.70 MDepreciation and amortization expense: $355,400,000.00Depreciation & amortization+$355.40 M(Gain) loss on sale or disposition of assets: -$3,900,000.00Asset disposal gain & loss−$3.90 MWrite-downs of assets: $2,800,000.00Write-downs of assets+$2.80 MAccretion of asset retirement obligations: $1,000,000.00Asset retirement accretion+$1.00 MDeferred income tax expense (benefit): $93,300,000.00Deferred income taxes+$93.30 MEquity (earnings) loss of unconsolidated affiliates: -$2,300,000.00Equity-method results−$2.30 MDistributions of earnings received from unconsolidated affiliates: $4,000,000.00Equity-method distributions+$4.00 MRisk management activities: $17,500,000.00Derivative value change+$17.50 M(Gain) loss from financing activities: $0.00Receivables and other assets: -$63,500,000.00Receivables & other assets−$63.50 MInventories: -$107,400,000.00Inventories−$107.40 MAccounts payable, accrued liabilities and other liabilities: -$90,600,000.00Accounts payable, accrued liabilities and otherliabilities−$90.60 MInterest payable: -$134,700,000.00Accrued interest−$134.70 MNet cash from operating activities: $540,900,000.00Operating cash+$540.90 MOperating adjustments reconciliation: $495,400,000.00Repayment of term loan facility: $0.00Proceeds from borrowings of commercial paper notes: $23,174,000,000.00Proceeds from borrowings of commercial paper notes+$23.17 BRepayments of commercial paper notes: -$23,526,000,000.00Commercial paper repaid−$23.53 BProceeds from borrowings under accounts receivable securitization facility: $650,000,000.00Securitization proceeds+$650.00 MRepayments of accounts receivable securitization facility: -$600,000,000.00Securitization repayments−$600.00 MProceeds from issuance of senior notes: $999,400,000.00Senior debt issued+$999.40 MRepurchase of shares: -$184,500,000.00Equity repurchases−$184.50 MPrincipal payments of finance leases: -$13,000,000.00Finance lease payments−$13.00 MCosts incurred in connection with financing arrangements: -$9,900,000.00Financing & issuance costs−$9.90 MContributions from noncontrolling interests: $3,000,000.00From noncontrolling interests+$3.00 MDistributions to noncontrolling interests: -$59,400,000.00Distributions to noncontrolling interests−$59.40 MRepurchase of noncontrolling interests: $0.00Dividends paid to common shareholders: -$166,400,000.00Dividends paid to common shareholders−$166.40 MNet cash from financing activities: $267,200,000.00Financing cash+$267.20 Mfinancing reconciliation: $24,826,400,000.00Outlays for property, plant and equipment: -$828,800,000.00PP&E purchases−$828.80 MProceeds from sale of assets: $900,000.00Asset sales+$900.00 KInvestments in unconsolidated affiliates: -$19,700,000.00Advances to affiliates−$19.70 MReturn of capital from unconsolidated affiliates: $400,000.00Equity-method return of capital+$400.00 KOther, net: -$100,000.00Other investing, net−$100.00 KNet cash used in investing activities: -$847,300,000.00. Cash required to fund net payments.Investing cash−$847.30 Minvesting reconciliation: $848,600,000.00Cash sources and uses: $974,500,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $166,400,000.00Beginning cash$166.40 MEnding cash: Cash, cash equivalents, and restricted cash: $127,200,000.00Ending cash$127.20 MCASH RECONCILIATIONOperatingflowsFinancingflowsInvestingflowsFree cash flow−$287.90 MOperating cash − cash spent on PP&ECash flow / Net income1.21×Operating cash flow ÷ net incomeNet cash change−$39.20 MEnding cash − beginning cash
Chart details

TARGA RESOURCES CORP. cash flow reconciliation, Jul 1, 2024 through Sep 30, 2024

Cash flows for Jul 1, 2024 through Sep 30, 2024. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Jun 30, 2024. Ending cash: Sep 30, 2024. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Jun 30, 2024
166,400,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
540,900,000 US dollars. Net cash provided.
Net income (loss)
447,900,000 US dollars
Amortization in interest expense
3,700,000 US dollars
Compensation on equity grants
17,700,000 US dollars
Depreciation and amortization expense
355,400,000 US dollars
(Gain) loss on sale or disposition of assets
negative 3,900,000 US dollars
Write-downs of assets
2,800,000 US dollars
Accretion of asset retirement obligations
1,000,000 US dollars
Deferred income tax expense (benefit)
93,300,000 US dollars
Equity (earnings) loss of unconsolidated affiliates
negative 2,300,000 US dollars
Distributions of earnings received from unconsolidated affiliates
4,000,000 US dollars
Risk management activities
17,500,000 US dollars
(Gain) loss from financing activities
0 US dollars
Receivables and other assets
negative 63,500,000 US dollars
Inventories
negative 107,400,000 US dollars
Accounts payable, accrued liabilities and other liabilities
negative 90,600,000 US dollars
Interest payable
negative 134,700,000 US dollars
Investing activities
negative 847,300,000 US dollars. Net cash used.
Outlays for property, plant and equipment
negative 828,800,000 US dollars
Proceeds from sale of assets
900,000 US dollars
Investments in unconsolidated affiliates
negative 19,700,000 US dollars
Return of capital from unconsolidated affiliates
400,000 US dollars
Other, net
negative 100,000 US dollars
Financing activities
267,200,000 US dollars. Net cash provided.
Repayment of term loan facility
0 US dollars
Proceeds from borrowings of commercial paper notes
23,174,000,000 US dollars
Repayments of commercial paper notes
negative 23,526,000,000 US dollars
Proceeds from borrowings under accounts receivable securitization facility
650,000,000 US dollars
Repayments of accounts receivable securitization facility
negative 600,000,000 US dollars
Proceeds from issuance of senior notes
999,400,000 US dollars
Repurchase of shares
negative 184,500,000 US dollars
Principal payments of finance leases
negative 13,000,000 US dollars
Costs incurred in connection with financing arrangements
negative 9,900,000 US dollars
Contributions from noncontrolling interests
3,000,000 US dollars
Distributions to noncontrolling interests
negative 59,400,000 US dollars
Repurchase of noncontrolling interests
0 US dollars
Dividends paid to common shareholders
negative 166,400,000 US dollars
Operating adjustment reconciliation
495,400,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
24,826,400,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
848,600,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
0 US dollars
Ending cash on Sep 30, 2024
127,200,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
974,500,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
negative 39,200,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
1.21×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
Operating cash flow
540,900,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
828,800,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
negative 287,900,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net income enters operating cash directly in the reconciliation. The adjustment junction contributes the remaining $93.00M after reconciling the other positive and negative adjustments. These connections depict an accounting reconciliation, not traced cash receipts.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • Cash-flow net income is $447.90 M, derived by subtracting the earlier cumulative period; the income statement reports $448.10 M for the same period. The difference is −$200.00 K. Neither amount has been adjusted.
  • Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: 540,900,000 US dollars minus 828,800,000 US dollars equals negative 287,900,000 US dollars.
  • Cash-flow net income is $447.90 M, derived by subtracting the earlier cumulative period; the income statement reports $448.10 M for the same period. The difference is −$200.00 K. Neither amount has been adjusted.
TARGA RESOURCES CORP. (TRGP) FY2024 Q3 Statement of Cash Flows Sankey chart
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