Targa Resources Corp. (TRGP)
Targa Resources Corp., alongside its subsidiary Targa Resources Partners LP, is a significant entity in the North American midstream energy sector, focusing on the ownership, operation, acquisition, and development of crucial energy infrastructure assets. Its business is structured into two main divisions: "Gathering and Processing" and "Logistics and Transportation." Within these segments, the company undertakes a broad range of activities, including the collection, compression, treatment, processing, transport, and sale of natural gas. It also manages the storage, fractionation, treatment, transportation, and distribution of natural gas liquids (NGLs) and their associated products, providing services even to liquefied petroleum gas (LPG) exporters. Furthermore, Targa handles the gathering, storage, terminaling, purchasing, and selling of crude oil. Beyond these core operations, the company is involved in the procurement and resale of NGL products, wholesale propane distribution, and providing related logistics support to a diverse clientele, including multi-state retailers, independent businesses, and end-users. It also offers NGL balancing services and transportation solutions for refineries and petrochemical companies situated in the Gulf Coast region, while actively purchasing, marketing, and reselling natural gas. The company's extensive asset base features approximately 28,400 miles of natural gas pipelines, including 42 owned and managed processing plants, and it operates 34 storage wells with a substantial gross capacity of about 76 million barrels. As of December 31, 2021, its transportation fleet comprised approximately 648 leased and managed railcars, 119 transport tractors, and two company-owned pressurized NGL barges. Targa Resources Corp. was established in 2005 and is headquartered in Houston, Texas.
Sector: Natural Gas Transmission
Industry: Oil & Gas Midstream
Targa Resources Corp.
NYSE:TRGPEnergy · Oil & Gas Midstream
+4.43%$302.37
AH Close$302.37+0.00%vs close
AH Close$302.37+0.00%vs close
Mkt Cap$64.84B
Float211.91M
O/S214.43M
Inst Own94.9%
Div Yield1.49%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$17.14B
Net Income$1.84B
Total Assets$25.22B
Free Cash Flow$584.1M
Debt & Equity
Debt 85%
Equity 15%
Total Debt$17.55B
Total Equity$3.07B
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in TRGP's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$25.22B
Liabilities$22.02B
Accounts Receivable$1.47B
Accounts Payable$1.87B
Inventory$429.3M
PP&E (Net)$20.63B
Goodwill$112.3M
Intangible Assets$1.65B
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 |
| Revenue | $17.14B | $16.63B | $15.62B | $21.68B | $17.44B | $8.27B | $8.67B | $10.55B | $8.86B | $6.64B | $6.58B | $8.63B | $6.54B | $5.84B | $6.99B | $5.46B | $4.54B | $8B |
| YoY Growth | 3.1% | 6.5% | -28.0% | 24.3% | 110.8% | -4.6% | -17.8% | 19.1% | 33.4% | 1.0% | -23.7% | 32.0% | 11.9% | -16.5% | 28.1% | 20.4% | -43.3% | - |
| Cost of Revenue | $12.59B | $13.3B | $13.08B | $18.89B | $15.35B | $6.75B | $7.18B | $9.78B | $8.34B | $6.23B | $6.05B | $7.83B | $6.03B | $5.39B | $6.51B | $4.87B | $4.2B | $7.65B |
| Gross Profit | $4.54B | $3.33B | $2.54B | $2.79B | $2.09B | $1.52B | $1.49B | $778.8M | $526.1M | $410.7M | $523.3M | $795.2M | $508.3M | $449.4M | $487.4M | $587.6M | $339.6M | $344.3M |
| Gross Margin | 26.5% | 20.0% | 16.2% | 12.9% | 12.0% | 18.4% | 17.2% | 7.4% | 5.9% | 6.2% | 8.0% | 9.2% | 7.8% | 7.7% | 7.0% | 10.8% | 7.5% | 4.3% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $406M | $384.9M | $348.7M | $309.7M | $273.2M | $254.6M | $280.7M | $256.9M | $203.4M | $187.2M | $161.7M | $148M | $151.5M | $139.8M | $136.1M | $144.4M | $120.4M | $96.4M |
| Other | $690.1M | -$3.5M | -$100K | $0 | $100K | $2.6M | $1.02B | $3.6M | $1.5M | $500K | $1.1M | $1.7M | $700K | $700K | $0 | $255.5M | $0 | $0 |
| Total Operating Expenses | $1.1B | $381.4M | $348.6M | $309.7M | $273.3M | $257.2M | $1.3B | $260.5M | $204.9M | $187.7M | $162.8M | $149.7M | $152.2M | $140.5M | $136.1M | $399.9M | $120.4M | $96.4M |
| Operating Income (EBIT) | $3.45B | $2.94B | $2.19B | $2.48B | $1.82B | $1.27B | $192.9M | $518.3M | $321.2M | $223M | $360.5M | $645.5M | $356.1M | $308.9M | $351.3M | $187.7M | $219.2M | $247.9M |
| Operating Margin | 20.1% | 17.7% | 14.0% | 11.5% | 10.4% | 15.3% | 2.2% | 4.9% | 3.6% | 3.4% | 5.5% | 7.5% | 5.4% | 5.3% | 5.0% | 3.4% | 4.8% | 3.1% |
| Interest Expense | $852.8M | $767.2M | $687.8M | $446.1M | $387.9M | $391.3M | $337.8M | $257.9M | $233.7M | $254.2M | $231.9M | $144.7M | $128M | $112.9M | $103.6M | $101.6M | $132.1M | $141.2M |
| Interest Income | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Income (Expense) | -$960.4M | -$1.01B | -$244.2M | -$820.7M | -$1.38B | -$2.84B | -$239.6M | -$452.4M | -$614.1M | -$482.7M | -$472.3M | -$154.5M | -$106.6M | -$112.7M | -$100.5M | -$101.9M | -$114.4M | -$80.2M |
| Income Before Tax (EBT) | $2.49B | $1.94B | $1.94B | $1.66B | $436.9M | -$1.57B | -$46.7M | $65.9M | -$292.9M | -$259.7M | -$111.8M | $491M | $249.5M | $196.2M | $242M | $85.8M | $99.8M | $153.7M |
| Income Tax Expense | $529.7M | $384.5M | $363.2M | $131.8M | $14.8M | -$248.1M | -$87.9M | $5.5M | -$397.1M | -$100.6M | $39.6M | $68M | $48.2M | $36.9M | $26.6M | $22.5M | $20.7M | $19.3M |
| Net Income | $1.84B | $1.27B | $828.2M | $1.14B | $71.2M | -$1.55B | -$209.2M | $1.6M | $54M | -$187.3M | $58.3M | $102.3M | $65.1M | $38.1M | $30.7M | -$15M | $29.3M | $37.3M |
| Net Income Margin | 10.8% | 7.6% | 5.3% | 5.3% | 0.4% | -18.8% | -2.4% | 0.0% | 0.6% | -2.8% | 0.9% | 1.2% | 1.0% | 0.7% | 0.4% | -0.3% | 0.6% | 0.5% |
| Supplementary Data | ||||||||||||||||||
| EPS | 8.54 | 5.77 | 3.69 | 3.95 | -0.07 | -7.26 | -1.44 | -0.53 | -0.31 | -1.80 | 1.09 | 2.44 | 1.56 | 0.93 | 0.75 | -31.12 | 1.79 | 2.28 |
| Diluted EPS | 8.52 | 5.74 | 3.66 | 3.88 | -0.07 | -7.26 | -1.44 | -0.53 | -0.31 | -1.80 | 1.09 | 2.43 | 1.55 | 0.91 | 0.74 | -31.12 | 1.79 | 2.28 |
| Weighted Average OS | 215.00M | 220.20M | 224.60M | 227.30M | 228.60M | 232.20M | 232.50M | 224.20M | 204.52M | 184.72M | 53.50M | 42.00M | 41.60M | 41.00M | 41.00M | 41.60M | 42.30M | 42.30M |
| EBITDA | $4.85B | $4.13B | $3.96B | $3.21B | $1.7B | -$316.7M | $1.26B | $1.14B | $750.3M | $752.2M | $764.6M | $986.7M | $649.4M | $506.7M | $526.6M | $362.1M | $400.7M | $455.8M |
| EBITDA Margin | 28.3% | 24.8% | 25.4% | 14.8% | 9.7% | -3.8% | 14.6% | 10.8% | 8.5% | 11.3% | 11.6% | 11.4% | 9.9% | 8.7% | 7.5% | 6.6% | 8.8% | 5.7% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 |
| Assets | ||||||||||||||||||
| Current Assets | ||||||||||||||||||
| Cash and Cash Equivalents | $166.1M | $157.3M | $141.7M | $219M | $158.5M | $242.8M | $331.1M | $232.1M | $137.2M | $73.5M | $140.2M | $81M | $66.7M | $76.3M | $145.8M | $188.4M | $252.4M | $362.8M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $166.1M | $157.3M | $141.7M | $219M | $158.5M | $242.8M | $331.1M | $232.1M | $137.2M | $73.5M | $140.2M | $81M | $66.7M | $76.3M | $145.8M | $188.4M | $252.4M | $362.8M |
| Accounts Receivable | $1.47B | $1.62B | $1.47B | $1.41B | $1.33B | $862.8M | $855M | $865.5M | $827.6M | $742.4M | $515.8M | $567.3M | $658.8M | $514.9M | $575.7M | $466.6M | $404.3M | $303.9M |
| Inventory | $429.3M | $334.3M | $371.5M | $393.8M | $153.4M | $181.5M | $161.5M | $164.7M | $204.5M | $137.7M | $141M | $168.9M | $150.7M | $99.4M | $92.2M | $50.4M | $39.4M | $68.5M |
| Other Current Assets | $292.7M | $186.4M | $210.4M | $335.4M | $126M | $173.2M | $310.7M | $156.6M | $100.6M | $53.2M | $123M | $65.4M | $21M | $42.7M | $52.8M | $45.1M | $48.9M | $121.9M |
| Total Current Assets | $2.36B | $2.3B | $2.19B | $2.36B | $1.77B | $1.46B | $1.66B | $1.42B | $1.27B | $1.01B | $920M | $882.6M | $897.2M | $733.3M | $866.5M | $750.5M | $745M | $857.1M |
| Long-Term Assets | ||||||||||||||||||
| Property, Plant & Equipment Net | $20.63B | $18.06B | $15.81B | $14.21B | $11.67B | $12.17B | $14.55B | $12.93B | $10.43B | $9.69B | $9.7B | $4.82B | $4.35B | $3.54B | $2.82B | $2.51B | $2.55B | $2.62B |
| Goodwill | $112.3M | $0 | $0 | $0 | $0 | $0 | $45.2M | $46.6M | $256.6M | $210M | $417M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $1.65B | $1.98B | $2.35B | $2.73B | $1.09B | $1.38B | $1.74B | $1.98B | $2.17B | $1.65B | $1.81B | $591.9M | $653.4M | $680.8M | $0 | $0 | $0 | $0 |
| Long-Term Investments | $307.1M | $193.3M | $146.3M | $131.3M | $586.5M | $714M | $738.7M | $490.5M | $221.6M | $240.8M | $258.9M | $50.2M | $55.9M | $53.1M | $36.8M | $15.2M | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $156.2M | $204.4M | $173.9M | $122.9M | $89.4M | $145.4M | $134.6M | $70.6M | $44.7M | $68.6M | $102.3M | $104.2M | $92.2M | $99.8M | $106.8M | $119.1M | $74.4M | $167.3M |
| Total Long-Term Assets | $22.86B | $20.44B | $18.48B | $17.2B | $13.44B | $14.42B | $17.16B | $15.52B | $13.12B | $11.86B | $12.33B | $5.57B | $5.15B | $4.37B | $2.96B | $2.64B | $2.62B | $2.78B |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $25.22B | $22.73B | $20.67B | $19.56B | $15.21B | $15.88B | $18.82B | $16.94B | $14.39B | $12.87B | $13.25B | $6.45B | $6.05B | $5.11B | $3.83B | $3.39B | $3.37B | $3.64B |
| Liabilities | ||||||||||||||||||
| Current Liabilities | ||||||||||||||||||
| Accounts Payable | $1.87B | $2.01B | $1.57B | $1.45B | $1.4B | $833.8M | $954.8M | $1.2B | $1B | $691.4M | $521.4M | $527.8M | $655.7M | $571.2M | $603.5M | $254.2M | $206.4M | $153.8M |
| Short-Term Debt | $677M | $330M | $575M | $800M | $150M | $356.5M | $370M | $1.03B | $350M | $275M | $219.3M | $182.8M | $0 | $0 | $0 | $0 | $12.5M | $12.5M |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $62.4M | $47.7M | $27.1M | $24.2M | $13.4M | $11.7M | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $234.1M | $167.3M | $54M | $320.1M | $258.2M | $142.6M | $110.5M | $90.9M | $132.5M | $86.3M | $21.2M | $51.3M | $48.8M | $48.3M | $87.2M | $34.2M | $30.6M | $47.9M |
| Total Current Liabilities | $3.55B | $3.17B | $2.76B | $3.07B | $2.3B | $1.78B | $1.87B | $2.8B | $1.62B | $1.17B | $874.9M | $826.5M | $770.4M | $686.6M | $741.1M | $624.2M | $553.8M | $466.6M |
| Long-Term Liabilities | ||||||||||||||||||
| Long-Term Debt | $16.4B | $13.55B | $12.09B | $10.51B | $6.42B | $7.37B | $7.41B | $5.63B | $4.7B | $4.61B | $5.72B | $2.89B | $2.99B | $2.48B | $1.57B | $1.53B | $1.59B | $1.98B |
| Long-Term Unearned Revenue | $0 | $119.9M | $248.8M | $198.8M | $171.8M | $168.5M | $172M | $175.5M | $136.2M | $69.8M | $27.7M | $6M | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $872.1M | $535.8M | $327.7M | $136M | $152.1M | $434.2M | $525.2M | $479M | $941.2M | $177.8M | $138.7M | $135.5M | $131.2M | $120.5M | $111.6M | $50M | $26.8M |
| Other Long-Term Liabilities | $1.72B | $274M | $126.6M | $253.9M | $954.3M | $439.2M | $406M | $335.5M | $697.8M | $362.2M | $161.6M | $57.3M | $62.1M | $58.5M | $71.7M | $87.2M | $415.3M | -$2B |
| Total Long-Term Liabilities | $18.47B | $15.14B | $13.3B | $11.51B | $7.73B | $8.19B | $8.5B | $6.67B | $6.02B | $5.98B | $6.09B | $3.09B | $3.19B | $2.67B | $1.76B | $1.73B | $2.06B | $0 |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $349.9M |
| Total Liabilities | $22.02B | $18.32B | $16.06B | $14.58B | $10.03B | $9.97B | $10.37B | $9.47B | $7.63B | $7.15B | $6.96B | $3.91B | $3.96B | $3.35B | $2.5B | $2.36B | $2.61B | $2.82B |
| Stockholders' Equity | ||||||||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $308.4M | $0 |
| Common Stock | $200K | $200K | $200K | $200K | $200K | $200K | $200K | $200K | $200K | $200K | $100K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Retained Earnings | $2.29B | $1.19B | $492M | -$626.8M | -$1.82B | -$1.89B | -$339.6M | -$130.4M | -$77.2M | -$187.3M | $26.9M | $25.5M | $20.5M | -$32M | -$70.1M | -$100.8M | -$85.8M | -$115.1M |
| Comprehensive Income & Other | $113.8M | $27.5M | $85.6M | $54.7M | -$230.9M | -$141.8M | $92.5M | $94.3M | -$29.9M | -$38.3M | $5.7M | $4.8M | -$500K | $1.2M | -$1.3M | $600K | -$20.3M | $36.1M |
| Other Stockholders' Equity | $773.3M | $1.4B | $2.25B | $3.29B | $3.83B | $4.55B | $5.26B | $6.21B | $6.24B | $5.44B | $1.43B | $144.3M | $128.3M | $176.1M | $228.2M | $245.1M | $173.2M | $249.8M |
| Total Equity | $3.07B | $2.59B | $2.74B | $2.67B | $2.01B | $2.65B | $4.92B | $6.08B | $6.16B | $5.25B | $1.46B | $169.8M | $148.8M | $144.1M | $158.1M | $144.3M | $87.4M | $134.7M |
| Minority Interest | $130.3M | $1.83B | $1.87B | $2.32B | $3.17B | $3.25B | $3.52B | $1.39B | $595.7M | $475.8M | $4.79B | $2.37B | $1.94B | $1.61B | $1.17B | $891.8M | $667.5M | $687.3M |
| Total Liabilities and Equity | $25.09B | $20.91B | $18.8B | $17.24B | $12.04B | $12.63B | $15.29B | $15.55B | $13.79B | $12.4B | $8.42B | $4.08B | $4.11B | $3.5B | $2.66B | $2.5B | $2.7B | $2.95B |
| Supplementary Data | ||||||||||||||||||
| Total Debt | $17.55B | $14.27B | $13.01B | $11.56B | $6.63B | $7.8B | $7.87B | $6.66B | $5.05B | $4.88B | $5.98B | $3.07B | $2.99B | $2.48B | $1.57B | $1.53B | $1.61B | $1.99B |
| Net Debt | $17.38B | $14.11B | $12.87B | $11.35B | $6.47B | $7.56B | $7.54B | $6.43B | $4.92B | $4.81B | $5.84B | $2.99B | $2.92B | $2.4B | $1.42B | $1.35B | $1.35B | $1.63B |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 |
| Operating Activities | ||||||||||||||||||
| Net Income | $1.84B | $1.55B | $1.58B | $1.53B | $422.1M | -$1.32B | $41.2M | $60.4M | $104.2M | -$159.1M | -$151.4M | $423M | $201.3M | $159.3M | $215.4M | $63.3M | $79.1M | $134.4M |
| Depreciation & Amortization | $1.52B | $1.42B | $1.33B | $1.1B | $870.6M | $865.1M | $971.6M | $815.9M | $809.5M | $757.7M | $644.5M | $351M | $271.9M | $197.6M | $181M | $174.7M | $168.8M | $160.9M |
| Deferred Income Tax | $516.6M | $367M | $349.6M | $125.1M | $12.1M | -$232.7M | -$87.9M | $5.5M | -$392.7M | -$37.8M | $24.6M | -$4.4M | $5.4M | $9M | $12.3M | $33.1M | $19.1M | $18M |
| Stock-Based Compensation | $0 | $63.2M | $62.4M | $57.5M | $59.2M | $66.2M | $60.3M | $56.3M | $42.3M | $29.7M | $25M | $14.3M | $13.2M | $17.5M | $15.2M | $13.4M | $0 | $1.5M |
| Changes in Working Capital: | ||||||||||||||||||
| Accounts Receivable | $0 | -$75M | -$20.6M | $219.7M | -$392.4M | -$25.6M | -$24.7M | -$6.2M | -$20.1M | -$222.9M | $235.9M | $90.2M | -$143.6M | $98M | -$101.3M | -$119.2M | -$140.1M | $600.7M |
| Inventory | -$89.5M | $33.5M | $36M | -$236.2M | $40.6M | -$27.7M | -$45M | -$13.9M | -$73.2M | -$15.9M | $41.4M | -$36.2M | -$84.5M | $6M | -$41.1M | -$11.4M | $19.3M | $72.8M |
| Accounts Payable | -$256.8M | $40.7M | $68.2M | -$383M | $565.4M | $105.7M | $35M | $31.6M | $100.2M | $176.1M | -$186.2M | -$104.7M | $83.6M | -$113.4M | $102.6M | -$15.4M | $122.2M | -$515.5M |
| Other Working Capital | $152.7M | $39.5M | $55.6M | $35.5M | $5.9M | $6.9M | $45.8M | $25.6M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Working Capital Change | -$193.6M | $38.7M | $139.2M | -$364M | $219.5M | $59.3M | $11.1M | $37.1M | $6.9M | -$62.7M | $91.1M | -$50.7M | -$144.5M | -$9.4M | -$39.8M | -$146M | $1.4M | $158M |
| Other Non-Cash Items | $237.7M | $204.3M | -$248.5M | -$65.2M | $719.4M | $2.31B | $393.5M | $168.8M | $369.3M | $309.6M | $400.9M | $28.6M | $35.4M | $54.2M | -$4.8M | $70M | $67.4M | -$82.1M |
| Net Cash from Operating | $3.92B | $3.65B | $3.21B | $2.38B | $2.3B | $1.74B | $1.39B | $1.14B | $939.5M | $837.4M | $1.03B | $761.8M | $382.7M | $428.2M | $379.3M | $208.5M | $335.8M | $390.7M |
| Investing Activities | ||||||||||||||||||
| Capital Expenditures | -$3.33B | -$2.97B | -$2.39B | -$1.33B | -$505.1M | -$951.6M | -$2.88B | -$3.11B | -$1.3B | -$562.1M | -$817.2M | -$762.2M | -$1.01B | -$582.7M | -$331.9M | -$139.3M | -$99.4M | -$132.3M |
| Acquisitions | -$2.01B | -$57.4M | -$19.1M | -$2.84B | $19.6M | $209.2M | -$178.2M | -$19.6M | -$577.4M | $4.5M | -$1.58B | $5.7M | $0 | -$1.01B | -$177.7M | $3.3M | $0 | -$124.9M |
| Purchases of Investments | -$130.5M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$21.2M | $0 | $0 | $0 |
| Sales of Investments | $7.8M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $27.1M | $1.9M | $3.7M | $21.4M | $12.3M | $4.3M | -$15.9M | -$12.5M | -$17.8M | -$1M | $2.5M | $5.1M | -$12.7M | $4.5M | $21.5M | $4.7M | $40.1M | $50.5M |
| Net Cash from Investing | -$5.44B | -$3.02B | -$2.4B | -$4.15B | -$473.2M | -$738.1M | -$3.07B | -$3.15B | -$1.89B | -$558.6M | -$2.4B | -$751.4M | -$1.03B | -$1.59B | -$509.3M | -$131.3M | -$59.3M | -$206.7M |
| Financing Activities | ||||||||||||||||||
| Debt Repaid | -$3.43B | -$204.3M | -$2.46B | -$3.4B | $344.5M | $423M | -$1.83B | -$930M | -$126.9M | $809.8M | -$705.9M | $96.9M | -$281.7M | -$897.5M | -$30M | $56.3M | $379.2M | -$106M |
| Common Stock Issuance | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $689M | $1.66B | $577.3M | $780.4M | $412.7M | $524.7M | $514M | $310M | $224.4M | $300K | $1.1M |
| Common Stock Repurchases | -$641.8M | -$754.7M | -$373.7M | -$1.19B | -$53.2M | -$268.2M | -$13.9M | -$4M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$100K | $0 | -$500K |
| Dividends Paid | -$818.3M | -$615.5M | -$427.3M | -$379.7M | -$187.5M | -$395.9M | -$964.8M | -$908.3M | -$843.2M | -$565.9M | -$179M | -$113M | -$87.8M | -$62.2M | -$38.2M | -$210.1M | $0 | $0 |
| Other Financing Activities | -$107.2M | -$402.4M | -$1.42B | -$1.3B | -$493.8M | -$407.6M | $1.63B | $722.4M | $54.1M | -$95.9M | -$800K | -$22.3M | -$301.4M | -$256.3M | -$18.2M | $279.1M | -$7.7M | -$105.7M |
| Net Cash from Financing | $1.53B | -$612.8M | -$888.1M | $1.83B | -$1.91B | -$1.09B | $1.78B | $2.1B | $1.02B | -$345.5M | $1.42B | $3.9M | $634M | $1.09B | $87.4M | -$137.9M | -$386.9M | $900K |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $8.8M | $15.6M | -$77.3M | $60.5M | -$84.3M | -$88.3M | $99M | $94.9M | $63.7M | -$66.7M | $59.2M | $14.3M | -$9.6M | -$69.5M | -$42.6M | -$64M | -$110.4M | $184.9M |
| Supplementary Data | ||||||||||||||||||
| Operating Cash Flow | $3.92B | $3.65B | $3.21B | $2.38B | $2.3B | $1.74B | $1.39B | $1.14B | $939.5M | $837.4M | $1.03B | $761.8M | $382.7M | $428.2M | $379.3M | $208.5M | $335.8M | $390.7M |
| Capital Expenditure | -$3.33B | -$2.97B | -$2.39B | -$1.33B | -$505.1M | -$951.6M | -$2.88B | -$3.11B | -$1.3B | -$562.1M | -$817.2M | -$762.2M | -$1.01B | -$582.7M | -$331.9M | -$139.3M | -$99.4M | -$132.3M |
| Free Cash Flow | $584.1M | $683.9M | $826.2M | $1.05B | $1.8B | $792.9M | -$1.49B | -$1.97B | -$358M | $275.3M | $217.5M | -$400K | -$630.9M | -$154.5M | $47.4M | $69.2M | $236.4M | $258.4M |
| Cash at Beginning | $157.3M | $141.7M | $219M | $158.5M | $242.8M | $331.1M | $232.1M | $137.2M | $73.5M | $140.2M | $81M | $66.7M | $76.3M | $145.8M | $188.4M | $252.4M | $362.8M | $177.9M |
| Cash at End | $166.1M | $157.3M | $141.7M | $219M | $158.5M | $242.8M | $331.1M | $232.1M | $137.2M | $73.5M | $140.2M | $81M | $66.7M | $76.3M | $145.8M | $188.4M | $252.4M | $362.8M |