Below are the financial statements of Targa Resources, including the income statement and balance sheet for the company's latest fiscal year. All figures are accurate, verifiable, and fully traceable to the original annual filing where disclosed.
| All figures in millions of USD | 2024 | 2023 | 2022 |
|---|---|---|---|
| Revenues | — | — | — |
| Sales of commodities | 13,891.8a | 13,962.1a | 19,066a |
| Fees from midstream services | 2,489.7a | 2,098.2a | 1,863.8a |
| Total revenues | 16,381.5a | 16,060.3a | 20,929.8a |
| Costs and expenses | — | — | — |
| Product purchases and fuel | -10,703a | -10,676.4a | -16,882.1a |
| Operating expenses | -1,175.6a | -1,077.9a | -912.8a |
| Depreciation and amortization expense | -1,423a | -1,329.6a | -1,096a |
| General and administrative expense | -384.9a | -348.7a | -309.7a |
| Other operating (income) expense | -0.4a | 1.5a | 0.2a |
| Income (loss) from operations | 2,695.4a | 2,626.2a | 1,729a |
| Other income (expense) | — | — | — |
| Interest expense, net | -767.2a | -687.8a | -446.1a |
| Equity earnings (loss) | 9.4a | 9a | 9.1a |
| Gain (loss) from financing activities | -0.8a | -2.1a | -49.6a |
| Gain (loss) from sale of equity method investment | 0a | 0a | 435.9a |
| Other, net | 1.2a | -2.8a | -15.1a |
| Income (loss) before income taxes | 1,938a | 1,942.5a | 1,663.2a |
| Income tax (expense) benefit | -384.5a | -363.2a | -131.8a |
| Net income (loss) | 1,553.5a | 1,579.3a | 1,531.4a |
| Less: net income (loss) attributable to noncontrolling interests | 241.5a | 233.4a | 335.9a |
| Net income (loss) attributable to Targa Resources Corp. | 1,312a | 1,345.9a | 1,195.5a |
| Premium on repurchase of noncontrolling interests, net of tax | 32.9a | 510.1a | 53.2a |
| Dividends on Series A Preferred Stock | 0a | 0a | 30a |
| Deemed dividends on Series A Preferred Stock | 0a | 0a | 215.5a |
| Net income (loss) attributable to common shareholders | 1,279.1a | 835.8a | 896.8a |
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