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Targa Resources Corp (NYSE:TRGP)
Cash from Financing
$201 Mil (TTM As of Sep. 2014)

Cash from financing is the cash generated/spent from financial activities such as share issuance (buy back), debt issuance (repayment), and dividends paid to preferred and common stockholders.

For the three months ended in Sep. 2014, Targa Resources Corp received $89 Mil more from issuing new shares than it paid to buy back shares. It received $130 Mil from issuing more debt. It paid $0 Mil more to buy back preferred shares than it received from issuing preferred shares. It spent $289 Mil paying cash dividends to shareholders. It received $126 Mil on other financial activities. In all, Targa Resources Corp earned $56 Mil on financial activities for the three months ended in Sep. 2014.


Definition

This is the cash generated/spent from financial activities such as share issuance (buy back), debt issuance (repayment), and dividends paid to preferred and common stockholders. In the calculation of free cash flow, cash from financing is not calculated because it is not related to operating activities.

Targa Resources Corp's Cash from Financing for the fiscal year that ended in Dec. 2013 is calculated as:

Cash from Financing(A: Dec. 2013 )
=Net Issuance of Stock+Net Issuance of Debt+Net Issuance of Preferred+Dividends+Other Financing
=511.4+2+0+-362.2+482.8
=634

Targa Resources Corp's Cash from Financing for the quarter that ended in Sep. 2014 is

Cash from Financing(Q: Sep. 2014 )
=Net Issuance of Stock+Net Issuance of Debt+Net Issuance of Preferred+Dividends+Other Financing
=88.6+130.4+0+-288.8+125.6
=56

Targa Resources Corp Cash Flow from Financing for the trailing twelve months (TTM) ended in Sep. 2014 was 147.1 (Dec. 2013 ) + -96.8 (Mar. 2014 ) + 95.2 (Jun. 2014 ) + 55.8 (Sep. 2014 ) = $201 Mil.

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.


Explanation

Cash from financing contains five items:

1. Net Issuance of Stock:
A company may raise cash from issuing new shares. It can also use cash to buy back shares. If this number is positive, it means that the company has received more cash from issuing shares than it has paid to buy back shares. If this number is negative, it means that company has paid more cash to buy back shares than it has received for issuing shares.

Targa Resources Corp's net issuance of stock for the three months ended in Sep. 2014 was $89 Mil. Targa Resources Corp received $89 Mil more from issuing new shares than it paid to buy back shares.

2. Net Issuance of Debt:
Net issuance of debt is the cash a company received or spent through debt related activities such as debt issuance or debt repayment. If a company pays down its debt during the period, this number will be negative. If a company issued more debt, it receives cash and this number is positive.

Targa Resources Corp's net issuance of debt for the three months ended in Sep. 2014 was $130 Mil. Targa Resources Corp received $130 Mil from issuing more debt.

3. Net Issuance of Preferred:
A company may raise cash from issuing new preferred shares. It can also use cash to buy back preferred shares. If this number is positive, it means that the company has received more cash from issuing preferred shares than it has paid to buy back preferred shares. If this number is negative, it means that company has paid more cash to buy back preferred shares than it has received for issuing preferred shares.

Targa Resources Corp's net issuance of preferred for the three months ended in Sep. 2014 was $0 Mil. Targa Resources Corp paid $0 Mil more to buy back preferred shares than it received from issuing preferred shares.

4. Dividends:
Cash flow for dividends refers to the payment of cash to shareholders as dividends when the company generates income.

Targa Resources Corp's cash flow for dividends for the three months ended in Sep. 2014 was $-289 Mil. Targa Resources Corp spent $289 Mil paying cash dividends to shareholders.

5. Other Financing:
Money spent or earned by company from other financial activities.

Targa Resources Corp's other financing for the three months ended in Sep. 2014 was $126 Mil. Targa Resources Corp received $126 Mil on other financial activities.


Related Terms

Cash Flow from Operations, Cash Flow from Investing, Net Issuance of Stock, Net Issuance of Debt, Dividends, Net Issuance of Preferred


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.

Targa Resources Corp Annual Data

Dec08Dec09Dec10Dec11Dec12Dec13
Net Issuance of Stock 00000010484511
Net Issuance of Debt 0000168-3460308082
Net Issuance of Preferred 0000000000
Dividends 000000-448-234-274-362
Other Financing 0000-168-4130929275483
Cash from Financing 00001-387-138871,093634

Targa Resources Corp Quarterly Data

Jun12Sep12Dec12Mar13Jun13Sep13Dec13Mar14Jun14Sep14
Net Issuance of Stock 003691071241481321105489
Net Issuance of Debt 140140626-10255-35-208-1270130
Net Issuance of Preferred 0000000000
Dividends -66-70-70-19-21-217-105-26-27-289
Other Financing -0080-9-129292328-169-1126
Cash from Financing 74701,00570229188147-979556
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