Targa Resources Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	1,312	1,346	1,196	71.2
Depreciation & Amortization	1,434	1,336	1,101	874.6
Other Amortization	-	2.1	49.6	14.9
Loss (Gain) From Sale of Assets	-3.1	-5.3	-9.6	2
Asset Writedown & Restructuring Costs	6.2	6.9	9.8	462.6
Loss (Gain) From Sale of Investments	-	-	-435.9	-
Loss (Gain) on Equity Investments	10.4	4.1	3.1	107.9
Stock-Based Compensation	63.2	62.4	57.5	59.2
Other Operating Activities	788.7	320.8	774	491
Change in Accounts Receivable	-75	-20.6	219.7	-392.4
Change in Inventory	33.5	36	-236.2	40.6
Change in Accounts Payable	40.7	68.2	-383	565.4
Change in Other Net Operating Assets	39.5	55.6	35.5	5.9
Operating Cash Flow	3,650	3,212	2,381	2,303
Operating Cash Flow Growth	13.64%	34.90%	3.38%	32.01%
Capital Expenditures	-2,966	-2,385	-1,334	-505.1
Sale of Property, Plant & Equipment	3.3	4.7	23	12.2
Cash Acquisitions	-	-	-3,709	-
Investment in Securities	-57.4	-19.1	872.3	19.6
Other Investing Activities	-1.4	-1	-1.6	0.1
Investing Cash Flow	-3,021	-2,401	-4,150	-473.2
Short-Term Debt Issued	86,206	59,146	31,734	630
Long-Term Debt Issued	999.4	3,728	10,086	1,620
Total Debt Issued	87,205	62,874	41,821	2,250
Short-Term Debt Repaid	-85,495	-60,205	-30,076	-830
Long-Term Debt Repaid	-550.1	-1,333	-7,048	-2,600
Total Debt Repaid	-86,045	-61,538	-37,124	-3,430
Net Debt Issued (Repaid)	1,160	1,336	4,697	-1,180
Repurchase of Common Stock	-811.1	-429.5	-260.6	-53.2
Common Dividends Paid	-615.5	-427.3	-	-
Dividends Paid	-615.5	-427.3	-379.7	-187.5
Other Financing Activities	-346	-1,367	-1,262	-493.8
Financing Cash Flow	-612.8	-888.1	1,829	-1,914
Net Cash Flow	15.6	-77.3	60.5	-84.3
Free Cash Flow	683.9	826.2	1,047	1,798
Free Cash Flow Growth	-17.22%	-21.05%	-41.79%	126.74%
Free Cash Flow Margin	4.17%	5.14%	5.00%	10.61%
Free Cash Flow Per Share	3.09	3.66	4.53	7.86
Cash Interest Paid	712.7	618.6	401.3	356
Cash Income Tax Paid	16.7	8.5	1.6	1.3
Levered Free Cash Flow	291.33	211.2	243.11	1,356
Unlevered Free Cash Flow	770.83	638.98	472.33	1,583
Change in Working Capital	38.7	139.2	-364	219.5

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.