| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net income (loss) | 487,400 | 553,100 | 486,600 | 637,200 |
| Amortization in interest expense | 4,900 | 4,500 | 4,900 | 4,000 |
| Compensation on equity grants | 23,200 | 17,300 | 17,500 | 17,100 |
| Depreciation and amortization expense | 426,000 | 390,500 | 383,500 | 373,700 |
| Deferred income tax expense (benefit) | 123,900 | 131,100 | 158,800 | 169,800 |
| Equity (earnings) loss of unconsolidated affiliates | 8,600 | -5,200 | 6,400 | 5,100 |
| Distributions of earnings received from unconsolidated affiliates | 1,700 | 8,100 | 5,200 | 5,000 |
| Risk management activities | -110,300 | -500 | -36,500 | 280,500 |
| Other, net | 15,800 | 6,800 | 600 | 10,100 |
| Receivables and other assets | 198,000 | 87,100 | 121,900 | -102,700 |
| Inventories | -96,000 | -57,200 | 41,300 | 184,200 |
| Accounts payable, accrued liabilities and other liabilities | -181,900 | 259,500 | -163,800 | -183,200 |
| Interest payable | -161,200 | 158,800 | -161,000 | 191,700 |
| Net cash provided by (used in) operating activities | 739,500 | 1,505,500 | 599,200 | 858,300 |
| Outlays for property, plant and equipment | 899,500 | 963,200 | 671,800 | 906,100 |
| Outlays for business acquisition, net of cash acquired | 1,261,300 | 122,800 | NaN | NaN |
| Outlays for asset acquisition, net of cash acquired | NaN | 90,300 | NaN | NaN |
| Investments in unconsolidated affiliates | 4,000 | 6,200 | 48,500 | 52,000 |
| Return of capital from unconsolidated affiliates | 3,000 | 1,700 | 2,400 | 1,200 |
| Other, net | -900 | 0 | -26,800 | -100 |
| Net cash provided by (used in) investing activities | -2,160,900 | -1,180,800 | -691,100 | -956,800 |
| Proceeds from borrowings of commercial paper notes | 31,824,000 | 22,475,000 | 40,424,400 | 21,224,200 |
| Repayments of commercial paper notes | 31,528,000 | 23,609,000 | 39,796,400 | 21,477,200 |
| Repayment of term loan facility | NaN | NaN | NaN | 0 |
| Proceeds from borrowings under accounts receivable securitization facility | 1,200,000 | 0 | 600,000 | 0 |
| Repayments of accounts receivable securitization facility | 600,000 | 600,000 | 0 | 600,000 |
| Proceeds from issuance of senior unsecured notes | 1,498,400 | 1,748,700 | 0 | 1,496,800 |
| Redemption of senior unsecured notes | 687,100 | 0 | 705,200 | NaN |
| Principal payments of finance leases | 23,800 | 22,700 | 23,600 | 15,600 |
| Costs incurred in connection with financing arrangements | 15,000 | 13,800 | 2,000 | 12,000 |
| Repurchases of common stock | 55,000 | 37,000 | 155,600 | 324,300 |
| Shares tendered for tax withholding obligations | 33,600 | 3,500 | 17,100 | 200 |
| Contributions from noncontrolling interests | NaN | NaN | NaN | 0 |
| Distributions to noncontrolling interests | 5,600 | 4,600 | 4,700 | 6,300 |
| Repurchase of noncontrolling interests | NaN | 0 | 0 | 400 |
| Dividends paid to common shareholders | 218,900 | 215,800 | 216,900 | 218,400 |
| Other, net | NaN | 0 | 0 | -6,400 |
| Net cash provided by (used in) financing activities | 1,355,400 | -282,700 | 102,900 | 60,200 |
| Net change in cash and cash equivalents | -66,000 | 42,000 | 11,000 | -38,300 |
| Cash and cash equivalents, beginning of period | 166,100 | 157,300 | NaN | NaN |
| Cash and cash equivalents, end of period | 100,100 | 166,100 | NaN | NaN |
Targa Resources Corp. (TRGP)
Targa Resources Corp. (TRGP)