Targa Resources Inc
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Penke I guess you are interested in Targa Resources Inc. Buy, hold or sell? I don't know! However, I do recommend doing research before doing anything. I will help you with that.

I'm going to help you getting a better view of Targa Resources Inc. At the end you don't have to ask anyone for trading advice. You can make your own decision, with more confidence, the odds in your favor, backed by data.

You can find me behind Let's Analyse Together in the top-right of each section.

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Quick analysis of Targa Resources Inc (30 sec.)

What can you expect buying and holding a share of Targa Resources Inc? (30 sec.)

How much money do you get?

$1.89

When do you have the money?

1 year

How often do you get paid?

100.0%

What is your share worth?

Current worth

$20.71

Expected worth in 1 year

$19.38

How sure are you?

62.5%

+ What do you gain per year?

Total Gains per Share

$0.56

Return On Investment

0.5%

For what price can you sell your share?

Current Price per Share

$117.68

Expected price per share

$99.04 - $

How sure are you?

50%

1. Valuation of Targa Resources Inc (5 min.)

Live pricePrice per Share (EOD)

$117.68

Book Value per Share

$20.71

Intrinsic Value Per Share

$-32.35 - $74.84

Total Value Per Share

$-11.64 - $95.55

My calculation of the intrinsic value of Targa Resources Inc is based how much money is coming from the company's main activities (Free Cash Flow).

The following numbers are based on moving averages and per share and per quarter.
I use a 6% discount rate for the low estimation and 3% for the high estimation.
The current Free Cash Flow Per Share is 10Y: ($0.09) 3Y: ($1.25) TTM: ($0.91)
The change per quarter (trend) of the Free Cash Flow Per Share is 10Y: ($0.05) 3Y: ($-0.06) TTM: ($0.25)

Years	Total Low est.	Total High est.	Added Free Cash Flow
1	$-0.25	$5.38	$-0.64 - $5.76
2	$-1.40	$11.31	$-1.65 - $6.51
3	$-3.35	$17.77	$-2.65 - $7.26
4	$-6.00	$24.72	$-3.65 - $8.02
5	$-9.26	$32.12	$-4.66 - $8.77
6	$-13.07	$39.94	$-5.66 - $9.52
7	$-17.35	$48.15	$-6.67 - $10.27
8	$-22.02	$56.72	$-7.67 - $11.02
9	$-27.04	$65.63	$-8.68 - $11.78
10	$-32.35	$74.84	$-9.68 - $12.53

2. Growth of Targa Resources Inc (5 min.)

Is Targa Resources Inc growing?

	Current year	Previous year	Grow	Grow %
How rich?	$4.6b	$4.7b	-$235.3m	-5.2%

How much money is Targa Resources Inc making?

	Current year	Previous year	Grow	Grow %
Making money	$336.4m	$340.5m	-$4.1m	-1.2%
Net Profit Margin	8.3%	6.4%	-	-

How much money comes from the company's main activities?

Quarterly Yearly

3. Financial Health of Targa Resources Inc (5 min.)

4. Comparing to competitors in the Oil & Gas Midstream industry (5 min.)

Industry Rankings (Oil & Gas Midstream)

Richest
#14 / 71

Most Revenue
#10 / 71

Most Profit
#11 / 71

Most Efficient
#47 / 71

What can you expect buying and holding a share of Targa Resources Inc? (5 min.)

Welcome investor! Targa Resources Inc's management wants to use your money to grow the business. In return you get a share of Targa Resources Inc.

What can you expect buying and holding a share of Targa Resources Inc?

First you should know what it really means to hold a share of Targa Resources Inc. And how you can make/lose money.

Speculation

The Price per Share of Targa Resources Inc is $117.68. The market price reflects what other people think it is worth; not what it's really worth. Your job is to find out if the market price is fair, overpriced, or underpriced. I will help you with that.

If you buy blind, there is a 50% chance of making or losing money by selling the stock in the future. However, we can look at a few things to determine the odds in our favor:

The fundamentals: the financial health trends of Targa Resources Inc.
The technials: based on market psychology, we can make a calculated estimate of what the price will do in the future. We can do this through technical analysis. We can calculate the probabilities and the expected value (millionaire math). That's called speculation.
The book value: what is the market price compared to it's book value.

Investing

If you really want to invest in Targa Resources Inc, you will have to let go of the thought of selling in the future. If you have to sell the share for less than you bought it, it can still be a good investment. Focus on what it means to hold the stock forever:

You own a part of the company. The equity of this part can grow or shrink. The current Book Value per Share is $20.71. Based on the TTM, the Book Value Change Per Share is $-0.33 per quarter. Based on the YOY, the Book Value Change Per Share is $0.15 per quarter.
You may receive quarterly/yearly dividend in the form of additional shares.
You may receive quarterly/yearly dividend in the form of cash. Based on the TTM the Dividend per Share is $0.47 per quarter.

Based on historical numbers we can estimate the returns while holding a share of Targa Resources Inc.

How much money are you going to get?

	MRQ		TTM		YOY		5Y		10Y
	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share
Usd Eps	1.35	1.1%	0.94	0.8%	0.98	0.8%	-0.05	0.0%	-0.08	-0.1%
Usd Book Value Change Per Share	1.26	1.1%	-0.33	-0.3%	0.15	0.1%	-0.63	-0.5%	0.28	0.2%
Usd Dividend Per Share	0.51	0.4%	0.47	0.4%	0.41	0.4%	0.50	0.4%	0.61	0.5%
Usd Total Gains Per Share	1.77	1.5%	0.14	0.1%	0.56	0.5%	-0.12	-0.1%	0.90	0.8%
Usd Price Per Share	86.87	-	80.41	-	67.25	-	49.87	-	57.65	-
Price to Earnings Ratio	16.14	-	178.83	-	93.76	-	-45.51	-	42.85	-
Price-to-Total Gains Ratio	49.19	-	-346.68	-	-36.43	-	-47.24	-	-71.52	-
Price to Book Ratio	4.19	-	4.05	-	3.27	-	2.20	-	2.95	-
Price-to-Total Gains Ratio	49.19	-	-346.68	-	-36.43	-	-47.24	-	-71.52	-

When do you get the money?

Usd Investment	$.00
Usd Price Per Share	117.68
Number of shares	8

Gains per Quarter	Trailing 12 Months	5 Year
Usd Dividend Per Share	0.47	0.50
Usd Book Value Change Per Share	-0.33	-0.63
Usd Total Gains Per Share	0.14	-0.12
Gains per Quarter (8 shares)	1.12	-0.98
Gains per Year (8 shares)	4.49	-3.93

Years	Return on Investment (TTM)			Return on Investment (5Y)
	Dividend	Book Value gain	Total gains	Dividend	Book Value gain	Total gains
Broker costs	-	-	-10	-	-	-10
1	15	-11	-6	16	-20	-14
2	30	-21	-2	32	-40	-18
3	45	-32	2	48	-60	-22
4	61	-43	6	64	-80	-26
5	76	-53	10	81	-100	-30
6	91	-64	14	97	-120	-34
7	106	-75	18	113	-140	-38
8	121	-85	22	129	-160	-42
9	136	-96	26	145	-180	-46
10	151	-107	30	161	-200	-50

How sure are you?

Based on the past periods, how sure are you to get value out of your investment.

Linear %

	Trailing 12 Months				3Y				5 Year				10 Year				ALLTIME
				%				%				%				%				%
Earnings Per Share	4.0	0.0	0.0	100.0%	11.0	1.0	0.0	91.7%	13.0	7.0	0.0	65.0%	24.0	16.0	0.0	60.0%	39.0	20.0	0.0	66.1%
Book Value Change Per Share	2.0	2.0	0.0	50.0%	6.0	6.0	0.0	50.0%	7.0	13.0	0.0	35.0%	19.0	21.0	0.0	47.5%	32.0	25.0	2.0	54.2%
Dividend per Share	4.0	0.0	0.0	100.0%	12.0	0.0	0.0	100.0%	20.0	0.0	0.0	100.0%	40.0	0.0	0.0	100.0%	55.0	0.0	4.0	93.2%
Total Gains per Share	2.0	2.0	0.0	50.0%	6.0	6.0	0.0	50.0%	10.0	10.0	0.0	50.0%	25.0	15.0	0.0	62.5%	39.0	18.0	2.0	66.1%

Fundamentals of Targa Resources Inc

About Targa Resources Inc

https://www.targaresources.com
Oil & Gas Midstream
3182
811 Louisiana Street, Houston, TX, United States, 77002
Google Maps Bing Maps

Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of complementary domestic midstream infrastructure assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Transportation. The company is involved in gathering, compressing, treating, processing, transporting, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; and gathering, storing, terminaling, purchasing, and selling crude oil. It is also involved in the purchase and resale of NGL products; and sale of propane, as well as provision of related logistics services to multi-state retailers, independent retailers, and other end-users. In addition, the company offers NGL balancing services; and transportation services to refineries and petrochemical companies in the Gulf Coast area, as well as purchases, markets, and resells natural gas. As of December 31, 2023, it leased and managed approximately 605 railcars; 137 tractors; and 6 vacuum trucks and 2 pressurized NGL barges. Targa Resources Corp. was incorporated in 2005 and is headquartered in Houston, Texas.

Fundamental data was last updated by Penke on 2024-04-26 14:49:03.

Financial Health

Profitability Details

	Compared to previous year	Compared to industry
The company is making a profit.
Using its assets, the company is less efficient in making profit.
Using its investors money, the company is less efficient in making profit.

Operating Efficiency Details

	Compared to previous year	Compared to industry
The company is operating efficient.
The company is less efficient in keeping operating costs low.

Liquidity Details

	Compared to previous year	Compared to industry
The company is just not able to pay all its short-term debts.
The company is just not able to pay all its short-term debts with the most liquid assets.

Solvency Details

	Compared to previous year	Compared to industry
The company is just able to pay all its debts by selling its assets.
The company is unable to pay all its debts with equity.

Valuation

Valuation Details

	Compared to previous year	Compared to industry
Based on the equity, the company is fair priced.
Based on the earnings, the company is expensive.
Based on how much money comes from the company's main activities, the company is cheap.

1.1. Profitability of Targa Resources Inc.

1.1. Profitability

1.1.1. Net Profit Margin

Measures how much net profit Targa Resources Inc earns for each $1 of revenue.

Above 10% is considered healthy but always compare Targa Resources Inc to the Oil & Gas Midstream industry mean.
A Net Profit Margin of 7.1% means that $0.07 for each $1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Targa Resources Inc:

The MRQ is 7.1%. The company is making a profit. +1
The TTM is 8.3%. The company is making a profit. +1

Trends

Current period		Compared to		+/-
MRQ	7.1%	TTM	8.3%	-1.3%
TTM	8.3%	YOY	6.4%	+2.0%
TTM	8.3%	5Y	-1.1%	+9.4%
5Y	-1.1%	10Y	-0.6%	-0.5%

Compared to industry (Oil & Gas Midstream)

Period	Company	Industry (mean)	+/-
MRQ	7.1%	28.3%	-21.2%
TTM	8.3%	19.1%	-10.8%
YOY	6.4%	13.2%	-6.8%
5Y	-1.1%	12.7%	-13.8%
10Y	-0.6%	7.7%	-8.3%

Measures how much net profit Targa Resources Inc earns for each $1 of revenue.

Revenue is the amount of profit Targa Resources Inc generates before taxes and all other costs. For example, when you buy a cup of coffee it will cost you $3. The company does not earn $3 in profit but also has to pay various costs and taxes to create that cup of coffee. Let's assume the cost of creating a cup of coffee is $1.5.

The $3 you pay for a cup of coffee is called revenue.
The $1.5 that’s left over when all costs to create that cup of coffee (including taxes) are deduced from the revenue is called net profit.

The net profit margin looks at how much net profit Targa Resources Inc earns for each $1 in revenue.

How to use net profit margin

Higher profit margin is better (more profit).
Above 10% is considered healthy but always compare Targa Resources Inc to the Oil & Gas Midstream industry mean.
Can be used to compare companies within the Oil & Gas Midstream industry.

You typically want a high profit margin. This means that for each $1 in sales, Targa Resources Inc makes more profit. This shows the investor how efficiently Targa Resources Inc is operating in general and compared to other companies in the same industry. Targa Resources Inc operates in the Oil & Gas Midstream industry.

Why do investors use net profit margin in their analysis

It helps investors to determine the efficiency of Targa Resources Inc. If profit margins remain low (compared to the Oil & Gas Midstream industry mean) and there are no improvements to make in production costs or other areas that might be a warning sign. If profit margins are high that means the company has low overhead costs and is efficiently using its resources to generate profit.

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Net Profit Margin of Targa Resources Inc is 0.07. This means that Targa Resources Inc earned $0.07 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Net Profit Margin of the Oil & Gas Midstream industry is 28.3%.
What is the trend?
The trend is important because it shows you how Targa Resources Inc is performing over time. The most recent quarter might be important if Targa Resources Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Targa Resources Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare Targa Resources Inc with other companies in the same industry (Oil & Gas Midstream).
Net profit margin should rise over the years.
Can be influenced when Targa Resources Inc sells assets (profit will increase while costs remain the same).
It won’t show what part of Targa Resources Inc is doing great or needs improvement (it only looks at total revenue and total net income).

How to calculate net profit margin

Net profit margin = net income / total revenue * 100%

Real example of Targa Resources Inc

You need the following data to determine net profit margin:

Income statement from the period you want to calculate (for example, MRQ or TTM).

Net income MRQ Targa Resources Inc = 299,600
Total revenue MRQ Targa Resources Inc = 4,231,800
$299,600 / $4,231,800 = 0.07 or 7.1%

Higher is better

The higher the net profit margin, the more efficient the company is generating income. This helps investors to determine how the company is managing money. The net profit margin is an important indicator when diving into the financial health of a company. Overall, you want to see the net profit margin rising over the years. That means the company improved their production and made it more efficient (if possible).

You can use the net profit margin to compare companies within the same industry. If there are two companies where one is much bigger but the smaller one has a higher net profit margin, that means the smaller company is more efficiently using operational costs.

Important: Profit margins can be very different between industries. Companies with assembly lines or transports are much more prone to see shifting in prices for fuel, ingredients and maintenance compared to companies that only provide services. You should never compare net profit margin between different industries.

1.1.2. Return on Assets

Shows how efficient Targa Resources Inc is using its assets to generate profit.

Above 5% is considered healthy but always compare Targa Resources Inc to the Oil & Gas Midstream industry mean.
1.4% Return on Assets means that Targa Resources Inc generated $0.01 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of Targa Resources Inc:

The MRQ is 1.4%. Using its assets, the company is less efficient in making profit.
The TTM is 1.7%. Using its assets, the company is less efficient in making profit.

Trends

Current period		Compared to		+/-
MRQ	1.4%	TTM	1.7%	-0.3%
TTM	1.7%	YOY	2.0%	-0.3%
TTM	1.7%	5Y	0.2%	+1.5%
5Y	0.2%	10Y	0.1%	+0.1%

Compared to industry (Oil & Gas Midstream)

Period	Company	Industry (mean)	+/-
MRQ	1.4%	1.9%	-0.5%
TTM	1.7%	1.4%	+0.3%
YOY	2.0%	1.6%	+0.4%
5Y	0.2%	1.1%	-0.9%
10Y	0.1%	1.0%	-0.9%

Shows how efficient Targa Resources Inc is using its assets to generate profit.

For a farm, a tractor is considered an asset. The tractor helps ploughing the land making it possible to plant and harvest crops. But the tractor might be old and needing maintenance all the time reducing its efficiency. Return on assets indicates how effectively the farm is using the tractor (and other assets that help the core business) to plough the land.

How to use return on assets

Higher is better.
Above 5% is considered healthy but always compare Targa Resources Inc to the Oil & Gas Midstream industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on assets in their analysis

Shows the investor how effectively Targa Resources Inc is using its resources to generate profit. If the return on assets (1.4%) from Targa Resources Inc are higher than the Oil & Gas Midstream mean (1.9%) that means Targa Resources Inc is using its resources better than their competitors. If not, that means their competitors are more efficient in using their resources to generate profit.

An investor should always look at:

What is the current return on assets?
The current most recent quarter (MRQ) Return on Assets of Targa Resources Inc is 1.4%. This means the company generated $0.01 for each $1 in assets.
How does it compare to the industry?
The mean MRQ Return on Assets of the Oil & Gas Midstream industry is 1.9%.
What is the trend?
The trend is important because it shows you how Targa Resources Inc is performing over time. The most recent quarter might be important if Targa Resources Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Targa Resources Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
If a company has many assets changing over time, it’s better to calculate the average assets instead of the total assets.

How to calculate return on assets

Return on assets = net income / total assets * 100%

Real example Targa Resources Inc

You need the following data to determine return on assets (ROA):

Income statement
Balance sheet

Net income MRQ (income statement) from Targa Resources Inc = 299,600
Total assets MRQ (balance sheet) from Targa Resources Inc = 22,026,900
299,600 / 22,026,900 = 0.01 or 1.4%

ROA is an important ratio as it will tell you how effectively Targa Resources Inc is using its resources to generate profits. Example:

Bob and Kristin both sell ice cream in the summer. They both have an ice cream truck. The truck Bob owes cost him $20.000 and the truck Kristin owes cost her $1500. Over the summer, Bob earned $2000 and Kristin earned $200. To calculate the return on assets:

Bob: $2000 / $20.000 * 100% = 10%
Kristin: $200 / $1500 * 100% = 13.3%

This tells you Bob’s company is more valuable but Kristin's company is more efficient. Be aware that total assets can change over time. A transportation business will buy and sell trucks or planes all the time. Before using return on assets as a guideline, you have to know what the exact assets are. For a company that has many assets changing over time, it’s better to calculate the average assets instead of the total assets.

1.1.3. Return on Equity

Shows how efficient Targa Resources Inc is using its investors money to generate profit.

Above 15%-20% is considered healthy but always compare Targa Resources Inc to the Oil & Gas Midstream industry mean.
10.9% Return on Equity means Targa Resources Inc generated $0.11 for each $1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Targa Resources Inc:

The MRQ is 10.9%. Using its investors money, the company is less efficient in making profit.
The TTM is 12.9%. Using its investors money, the company is less efficient in making profit.

Trends

Current period		Compared to		+/-
MRQ	10.9%	TTM	12.9%	-1.9%
TTM	12.9%	YOY	14.8%	-2.0%
TTM	12.9%	5Y	3.1%	+9.8%
5Y	3.1%	10Y	3.2%	-0.1%

Compared to industry (Oil & Gas Midstream)

Period	Company	Industry (mean)	+/-
MRQ	10.9%	4.7%	+6.2%
TTM	12.9%	3.9%	+9.0%
YOY	14.8%	4.1%	+10.7%
5Y	3.1%	2.3%	+0.8%
10Y	3.2%	2.2%	+1.0%

Shows how efficient Targa Resources Inc is using its investors money to generate profit.

A publicly traded company (any company that issues shares to the public) is owned by its shareholders. Return on equity calculates the amount of profit for every $1 the shareholders invested.

How to use return on equity

Higher is better.
Above 15%-20% is considered healthy but always compare Targa Resources Inc to the Oil & Gas Midstream industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on equity in their analysis

To find out the owners/management's attitude toward their company. You typically want the owners/management to invest in the company and focus on generating profit. If not enough profit is generated (compared to the Oil & Gas Midstream industry mean), the company might not be investing their money efficiently.

The three steps every investor should look at:

What is the current return on equity?
The current most recent quarter (MRQ) Return on Equity of Targa Resources Inc is 10.9%. This means Targa Resources Inc generated $0.11 for each $1 the owners (shareholders) invested.
How does it compare to the industry?
The mean MRQ Return on Equity of the Oil & Gas Midstream industry is 4.7%.
What is the trend?
The trend is important because it shows you how Targa Resources Inc is performing over time. The most recent quarter might be important if Targa Resources Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Targa Resources Inc up to 10 years back (depending if Targa Resources Inc existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Does not include intangible assets (non physical assets like licences, computer software, etc.).
Stockholders equity and shareholders equity refer to the same thing.
Liabilities should not be more than three times return on equity.

How to calculate return on equity

Return on equity = net profit / shareholders equity * 100%

Real example of Targa Resources Inc

You need the following data to determine ROE:

Income statement
Balance sheet
Net profit MRQ (income statement) Targa Resources Inc = 299,600
Shareholders equity (balance sheet) MRQ Targa Resources Inc = 2,739,700
299,600 / 2,739,700 = 0.11 or 10.9%

A negative shareholder equity is a warning sign. It means the company has more liabilities than assets. It might also mean that the owners did not invest enough money or they are taking money out of the business.

1.2. Operating Efficiency of Targa Resources Inc.

1.2. Operating Efficiency

1.2.1. Operating Margin

Measures how efficient Targa Resources Inc is operating .

Measures how much profit Targa Resources Inc makes for each $1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
Above 15% is considered healthy but always compare Targa Resources Inc to the Oil & Gas Midstream industry mean.
An Operating Margin of 14.8% means the company generated $0.15 for each $1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Targa Resources Inc:

The MRQ is 14.8%. The company is operating less efficient.
The TTM is 16.4%. The company is operating efficient. +1

Trends

Current period		Compared to		+/-
MRQ	14.8%	TTM	16.4%	-1.6%
TTM	16.4%	YOY	8.4%	+8.0%
TTM	16.4%	5Y	21.6%	-5.2%
5Y	21.6%	10Y	13.0%	+8.6%

Compared to industry (Oil & Gas Midstream)

Period	Company	Industry (mean)	+/-
MRQ	14.8%	28.3%	-13.5%
TTM	16.4%	20.0%	-3.6%
YOY	8.4%	19.2%	-10.8%
5Y	21.6%	20.2%	+1.4%
10Y	13.0%	17.0%	-4.0%

Measures how efficient Targa Resources Inc is operating .

The more effecient a company creates products or provides services, the more profit it generates.

How to use operating margin

Higher is better
Above 15% is considered healthy but always compare Targa Resources Inc to the Oil & Gas Midstream industry mean.
Can be very different between industries
Can be used to compare companies

Why do investors use operating margin in their analysis

To determine how much profit Targa Resources Inc is making from it’s core business.

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Operating Margin of Targa Resources Inc is 14.8%. This means that Targa Resources Inc earned $0.15 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Margin of the Oil & Gas Midstream industry is 28.3%.
What is the trend?
The trend is important because it shows you how Targa Resources Inc is performing over time. The most recent quarter might be important if Targa Resources Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Targa Resources Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry
Can be calculated in different ways

How to calculate operating margin

Operating margin = operating earnings / total revenue

Real example of Targa Resources Inc

You need the following data to determine operating margin:

Income statement
Operating earnings MRQ Targa Resources Inc = 627,100
Total revenue MRQ Targa Resources Inc = 4,231,800
$627,100 / $4,231,800 = 0.15 or 14.8%

Operating margin is used to calculate how much profit a company makes after variable costs of production but before paying interest and taxes. Some variable costs examples are wages, raw materials, packaging, and transaction fees. The amount of variable costs is different for each company and industry. In general, a higher operating margin is better as this implicates that a company is running efficiently.

For investors, a higher operating margin is a good sign. Although you should always look at operating margin in the long term. If operating margin is fluctuating over the years this might be a sign that things are not running efficiently enough. It’s a way to check how much profit a company is making from its core business.

Operation earnings can be calculated in multiple ways:

Operation earnings = EBIT - non operating income + non operating expense
Operation earnings = Gross profit - operating expense - depreciation and amortisation
Operation earnings = Total revenue - COGS (costs of goods sold) - indirect costs

1.2.2. Operating Ratio

Measures how efficient Targa Resources Inc is keeping operating costs low.

Below 1 is considered healthy (always compare to Oil & Gas Midstream industry mean).
An Operation Ratio of 0.85 means that the operating costs are $0.85 for each $1 in net sales.

Let's take a look of the Operating Ratio trends of Targa Resources Inc:

The MRQ is 0.852. The company is less efficient in keeping operating costs low.
The TTM is 0.837. The company is less efficient in keeping operating costs low.

Trends

Current period		Compared to		+/-
MRQ	0.852	TTM	0.837	+0.015
TTM	0.837	YOY	0.916	-0.080
TTM	0.837	5Y	0.894	-0.058
5Y	0.894	10Y	0.922	-0.028

Compared to industry (Oil & Gas Midstream)

Period	Company	Industry (mean)	+/-
MRQ	0.852	0.911	-0.059
TTM	0.837	0.900	-0.063
YOY	0.916	0.901	+0.015
5Y	0.894	0.895	-0.001
10Y	0.922	0.922	0.000

Measures how efficient Targa Resources Inc is keeping operating costs low.

If the operating ratio is below 1 that means the company is making money. The lower the operating ratio, the more efficient the company.

How to use operating ratio

Lower is better.
Below 1 is considered healthy but always compare Targa Resources Inc to the Oil & Gas Midstream industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use operating ratio in their analysis

Shows if costs of creating products and or services is increasing or decreasing. The lower the operating ratio, the more efficient the company is creating products and services.

The three steps every investor should look at:

What is the current Operatin ratio?
The current most recent quarter (MRQ) Operating Ratio of Targa Resources Inc is 85.2%. This means that Targa Resources Inc earned $0.85 for each $1 in net sales in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Ratio of the Oil & Gas Midstream industry is 0.91.
What is the trend?
The trend is important because it shows you how Targa Resources Inc is performing over time. The most recent quarter might be important if Targa Resources Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Targa Resources Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
You need COGS to calculate operating ratio which is not always shown in the income statement.
Does not consider debt.

How to calculate operating ratio

Operating ratio = Operating expenses + COGS \ Net sales

Real life example Targa Resources Inc

You need the following data to determine operating ratio:

Income statement

COGS is not always specified on the income statement. If so you can use the following calculation:

(cost of revenue + total operating expenses) \ total revenue
(3,509,400 +95,300) \ 4,231,800 = 0.85

The operating ratio measures the efficiency of a company at keeping low costs while generating profits from sales. It compares the total operating expenses to the net amount of sales. The total operating expenses exists of:

COGS (materials, labour, rent of facility, repairs)
Operating expenses (legal fees, marketing, wages, rent, maintenance/repairs)

Operating expenses are all the costs the company makes that are not directly tied to the production of the service or product. Where COGS are costs that are directly tied to the production of a product or service.

Do note that COGS is not always available in the income statement. Some companies include COGS in the operating expenses while others list COGS separately. To make it even more confusing, COGS is also known as “costs of sales” and costs of sales is the same as costs of revenue.

The operating ratio tells you how efficient the company is creating its products or services while keeping prices low. In this case, a lower ratio is better. Higher or rising operating ratios might tell you that costs are rising while sales are not improving or staying the same.

1.3. Liquidity of Targa Resources Inc.

1.3. Liquidity

1.3.1. Current Ratio

Measures if Targa Resources Inc is able to pay off Short-term Debt.

Above 1.5 is considered healthy (always compare to Oil & Gas Midstream industry mean).
A Current Ratio of 0.79 means the company has $0.79 in assets for each $1 in short-term debts.

Let's take a look of the Current Ratio trends of Targa Resources Inc:

The MRQ is 0.795. The company is just not able to pay all its short-term debts. -1
The TTM is 0.750. The company is just not able to pay all its short-term debts. -1

Trends

Current period		Compared to		+/-
MRQ	0.795	TTM	0.750	+0.044
TTM	0.750	YOY	0.711	+0.040
TTM	0.750	5Y	0.781	-0.031
5Y	0.781	10Y	0.850	-0.068

Compared to industry (Oil & Gas Midstream)

Period	Company	Industry (mean)	+/-
MRQ	0.795	0.982	-0.187
TTM	0.750	1.081	-0.331
YOY	0.711	1.024	-0.313
5Y	0.781	1.032	-0.251
10Y	0.850	1.145	-0.295

Measures if Targa Resources Inc is able to pay off Short-term Debt.

How to use current ratio

Higher is better
Above 1.5 is considered healthy (always compare to Oil & Gas Midstream industry mean).
Can be very different between industries
Can be used to compare companies

Why do investors use current ratio in their analysis

Shows if the company can pay of short term debts if needed. A company that can't pay off it's short term debts might get in trouble if they have to pay off their short term debts for whatever reason. For example, markets can change due to global events like covid-19 or the war in Ukraine versus Russia. Because debts are always taken based on future income, it might become troublesome for Targa Resources Inc if something happens in the market that will cause sales to plummet.

The three steps every investor should look at:

What is the current current Ratio?
The current most recent quarter (MRQ) Current Ratio of Targa Resources Inc is 0.79. This means Targa Resources Inc has $0.79 in assets for each $1 in short-term debts.
How does it compare to the industry?
The mean MRQ Current Ratio of the Oil & Gas Midstream industry is 0.98.
What is the trend?
The trend is important because it shows you how Targa Resources Inc is performing over time. The most recent quarter might be important if Targa Resources Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Targa Resources Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Might be deluded.
Not all assets can always be quickly sold.
Can be manipulated by increasing or decreasing the assets and/or liabilities.

How to calculate current ratio

Current ratio = current assets \ current liabilities

Real life example Targa Resources Inc

You need the following data to determine operating ratio:

Balance sheet
Current ratio = current assets \ current liabilities
2,194,600 \ 2,760,900) = 0.79

The current ratio measures if Targa Resources Inc is able to pay short-term debts (obligations). Short term in this context means all debt obligations that are about to expire within one year. The current ratio incorporates current liabilities and current assets. Current assets are all the assets a company has that are expected to be consumed or sold within standard business operations. You can find the current assets in the balance sheet. They consist of:

Inventory
Accounts receivable
Marketable securities
Prepaid expenses
Cash
Cash equivalents
liquid assets

The current liabilities are short term obligations that are due within one year. These consist of:

Short term debts
Dividends
Income taxes
Short-term debts
Accounts payable
Interest payments

The result shows an investor if Targa Resources Inc is able to pay all its short-term debts if they were due all at once. When the result of the above formula is below 1, then Targa Resources Inc does not have enough capital after selling all its assets to pay all short-term debts. If the ratio drops far below 1 that might indicate Targa Resources Inc is or will be in financial trouble anytime soon.

Although this gives an investor some clues, the current ratio may also be deluded. Because owning assets does not mean the company can easily sell them. Also, Accounts receivable may be quite old (they will probably never pay) which deludes the current ratio. As with all ratios, you should only compare them between the same industries and companies.

1.3.2. Quick Ratio

Measures if Targa Resources Inc is able to pay off Short-term Debt but only using the most liquid assets.

Above 1 is considered healthy but always compare Targa Resources Inc to the Oil & Gas Midstream industry mean.
A Quick Ratio of 0.67 means the company can pay off $0.67 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Targa Resources Inc:

The MRQ is 0.665. The company is just not able to pay all its short-term debts with the most liquid assets. -1
The TTM is 0.553. The company is just not able to pay all its short-term debts with the most liquid assets. -1

Trends

Current period		Compared to		+/-
MRQ	0.665	TTM	0.553	+0.112
TTM	0.553	YOY	0.581	-0.028
TTM	0.553	5Y	0.666	-0.113
5Y	0.666	10Y	0.686	-0.020

Compared to industry (Oil & Gas Midstream)

Period	Company	Industry (mean)	+/-
MRQ	0.665	0.631	+0.034
TTM	0.553	0.718	-0.165
YOY	0.581	0.745	-0.164
5Y	0.666	0.845	-0.179
10Y	0.686	0.860	-0.174

Measures if Targa Resources Inc is able to pay off Short-term Debt but only using the most liquid assets.

How to use quick ratio

Higher is better.
Above 1 is considered healthy but always compare Targa Resources Inc to the Oil & Gas Midstream industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use quick ratio in their analysis

Shows how fast Targa Resources Inc can pay off its short term debts. This shows if Targa Resources Inc can survive emergencies due to market changes or other reasons.

The three steps every investor should look at:

What is the current Quick Ratio?
The current most recent quarter (MRQ) quickRatio of Targa Resources Inc is 0.67. This means that Targa Resources Inc can pay off $0.67 for each $1 in debt (using most liquid assets).
How does it compare to the industry?
The mean MRQ Quick Ratio of the Oil & Gas Midstream industry is 0.63.
What is the trend?
The trend is important because it shows you how Targa Resources Inc is performing over time. The most recent quarter might be important if Targa Resources Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Targa Resources Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Incorporates only most liquid assets.

How to calculate quick ratio

Quick ratio = cash and equivalents + marketable securities + accounts receivable / current liabilities

Real life example Targa Resources Inc

You need the following data to determine operating ratio:

Balance sheet
Quick ratio = cash and short-term investments + short-term investments + netReceivables / total current liabilities
MRQ quick ratio Targa Resources Inc: (253,600 + 111,900 +1,471,000) / 2,760,900 = 0.67

The quick ratio measures the same thing as the current ratio, only it uses the most liquid assets a company has. Meaning, the assets that can be sold for cash the easiest and fastest.

As the quick ratio only incorporates the most liquid assets, you should also check the current ratio which also includes less liquid assets. But they may be harder to sell.

1.4. Solvency of Targa Resources Inc.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Measures how much % of Targa Resources Inc assets are financed with debt.

Below 1 (100%) is considered healthy but always compare Targa Resources Inc to Oil & Gas Midstream industry mean.
A Debt to Asset Ratio of 0.79 means that Targa Resources Inc assets are financed with 79.1% credit (debt) and the remaining percentage (100% - 79.1%) is financed by its owners/shareholders.

Let's take a look of the Debt to Asset Ratio trends of Targa Resources Inc:

The MRQ is 0.791. The company is just able to pay all its debts by selling its assets.
The TTM is 0.777. The company is just able to pay all its debts by selling its assets.

Trends

Current period		Compared to		+/-
MRQ	0.791	TTM	0.777	+0.014
TTM	0.777	YOY	0.726	+0.052
TTM	0.777	5Y	0.647	+0.130
5Y	0.647	10Y	0.597	+0.050

Compared to industry (Oil & Gas Midstream)

Period	Company	Industry (mean)	+/-
MRQ	0.791	0.515	+0.276
TTM	0.777	0.516	+0.261
YOY	0.726	0.550	+0.176
5Y	0.647	0.542	+0.105
10Y	0.597	0.536	+0.061

Measures how much % of Targa Resources Inc assets are financed with debt.

When there are more debts than assets, that means creditors have a larger stake Targa Resources Inc than its shareholders.

How to use debt to asset ratio

Lower is better.
below 1 (100%) is considered healthy but always compare Targa Resources Inc to Oil & Gas Midstream industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use the debt to asset ratio in their analysis

It shows how much debt the company used to finance its assets. If a company is almost entirely financed with debt that means the company might get into serious trouble when emergencies arise like a raise in interest.

The three steps every investor should look at:

What is the current debt to asset ratio?
The current most recent quarter (MRQ) Debt to Asset Ratio of Targa Resources Inc is 0.79. This means means that Targa Resources Inc is financed with 79.1% credit and the remaining percentage is financed by it's owners (shareholders).
How does it compare to the industry?
The mean MRQ Current Ratio of the Oil & Gas Midstream industry is 98.2%.
What is the trend?
The trend is important because it shows you how Targa Resources Inc is performing over time. The most recent quarter might be important if Targa Resources Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Targa Resources Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry
Some companies can have higher debt to assets ratio's (for example, banks).
Debt to asset ratio should improve over the years.
If the debt to asset ratio is above 1, look at the industry mean and find out why Targa Resources Inc has so much debt.

How to calculate debt to asset ratio

Debt to asset ratio = total debt \ total assets

Real life example Targa Resources Inc

You need the following data to determine debt to asset ratio:

Balance sheet
Debt to asset ratio = total debt \ total assets
17,416,900 \ 22,026,900 = 79.1% or 0.79.

The debt to total assets ratio shows if the company is owned by creditors or shareholders. Or in other words, the total debt in relation to the total amount of assets. It shows how much debt the company used to finance its assets.

1.4.2. Debt to Equity Ratio

Measures if Targa Resources Inc is able to pay off its debts by using shareholders equity.

Below 2 is considered healthy but always compare Targa Resources Inc to the Oil & Gas Midstream industry mean.
A Debt to Equity ratio of 635.7% means that company has $6.36 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Targa Resources Inc:

The MRQ is 6.357. The company is unable to pay all its debts with equity. -1
The TTM is 5.993. The company is unable to pay all its debts with equity. -1

Trends

Current period		Compared to		+/-
MRQ	6.357	TTM	5.993	+0.364
TTM	5.993	YOY	5.300	+0.693
TTM	5.993	5Y	3.855	+2.138
5Y	3.855	10Y	5.337	-1.482

Compared to industry (Oil & Gas Midstream)

Period	Company	Industry (mean)	+/-
MRQ	6.357	1.063	+5.294
TTM	5.993	1.092	+4.901
YOY	5.300	1.241	+4.059
5Y	3.855	1.240	+2.615
10Y	5.337	1.253	+4.084

Measures if Targa Resources Inc is able to pay off its debts by using shareholders equity.

How to use debt to equity ratio

Lower is better.
Below 2 is considered healthy (always use industry average).
Can be very different between industries.
Can be used to compare companies.

Why do investors use the debt to shareholders equity ratio in their analysis

It shows how much debt the company uses to finance their operations. Shareholders equity is whats left over when you subtract total liabilities from total assets. It's another way to meassure how much of Targa Resources Inc is financed with debt or own resources.

The three steps every investor should look at:

What is the current debt to equity ratio?
The current most recent quarter (MRQ) quickRatio of Targa Resources Inc is 6.36. This means that Targa Resources Inc can pay off $6.36 for each $1 in debt.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Oil & Gas Midstream industry is 1.06.
What is the trend?
The trend is important because it shows you how Targa Resources Inc is performing over time. The most recent quarter might be important if Targa Resources Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Targa Resources Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Not all debt is equally risky (for example, short term risk is less risky).

How to calculate debt to equity ratio

Debt to equity ratio = total debt \ shareholders equity.

Real life example Targa Resources Inc

You need the following data to determine equity ratio:

Balance sheet
Debt to equity ratio = total debt \ shareholders equity
17,416,900 \ 2,739,700 = 6.36 or 635.7%

Debt to equity measures the total debt versus the total shareholders equity. While the total debts to total assets ratio uses total assets, the debt to equity ratio looks at the total equity of shareholders. Where equity of shareholders are:

Common shares.
Preferred shares.
Retained earnings.

You can find the shareholders' equity in the balance sheet. A ratio between 0,5 and 1,5 is preferred. If the ratio is above 1.5, that would indicate creditors have significantly more stake (debt) in the company than the shareholders. In other words, the company is using a lot of debt to finance their operations.

Not all debt is equally risky. Meaning you can adjust the ratio by including or excluding certain amounts of debt. Short term debts are less risky because they have to be paid back within one year anyway. It’s much easier to plan one year ahead versus five or ten years.

2. Market Valuation of Targa Resources Inc

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every $1 in earnings Targa Resources Inc generates.

Above 15 is considered overpriced but always compare Targa Resources Inc to the Oil & Gas Midstream industry mean.
A PE ratio of 16.14 means the investor is paying $16.14 for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Targa Resources Inc:

The EOD is 21.860. Based on the earnings, the company is fair priced.
The MRQ is 16.137. Based on the earnings, the company is fair priced.
The TTM is 178.830. Based on the earnings, the company is expensive. -2

Trends

Current period		Compared to		+/-
EOD	21.860	MRQ	16.137	+5.723
MRQ	16.137	TTM	178.830	-162.693
TTM	178.830	YOY	93.762	+85.068
TTM	178.830	5Y	-45.505	+224.335
5Y	-45.505	10Y	42.845	-88.350

Compared to industry (Oil & Gas Midstream)

Period	Company	Industry (mean)	+/-
EOD	21.860	8.585	+13.275
MRQ	16.137	8.360	+7.777
TTM	178.830	8.360	+170.470
YOY	93.762	8.021	+85.741
5Y	-45.505	11.349	-56.854
10Y	42.845	13.160	+29.685

Measures how much money you pay for each share for every $1 in earnings Targa Resources Inc generates.

Indicates if the company’s shares are under or overvalued.

How to use PE ratio

Above 15 is considered overpriced but is hard to determine. Always compare Targa Resources Inc to the Oil & Gas Midstream industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use PE ratio in their analysis

The PE ratio tells investors the current sentiment in the market for that company. As with every stock, the stock price never shows the real valuation of a company but rather how the market thinks how much the stock is worth.

In other words, the current stock price also incorporates any future earnings or business opportunities in the future. The best example is the stock market crash in 2000. The PE ratio for any internet based company was going through the roof. Only based on the general assumption the internet and all associated businesses would thrive in the future. But this was based on nothing. A business still needs a good product or service to be able to survive. Instead, every investor bought any stock which did something related to the internet. Result: huge market crash.

Many investors were willing to pay premium prices and that was causing the PE ratio to rise. A high PE ratio is a warning sign that investors might be overvaluing a stock based on future earnings.

The three steps every investor should look at:

What is the current PE Ratio?
The current most recent quarter (MRQ) PE Ratio of Targa Resources Inc is 16.14. This means the investor is paying $16.14 for every $1 in earnings.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Oil & Gas Midstream industry is 8.36.
What is the trend?
The trend is important because it shows you how Targa Resources Inc is performing over time. The most recent quarter might be important if Targa Resources Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Targa Resources Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Some industries might have very high or very low PE ratios in general.
PE ratios can be high for several years, it does not mean a sudden collapse is imminent.
Earnings growth is not included in the PE ratio.

How to calculate PE ratio

PE ratio = market value per share \ earnings per share

Real life example Targa Resources Inc

You need the following data to determine the PE ratio:

Balance sheet
Income statement

The PE ratio is a very commonly used ratio to determine the value of a company by comparing the current stock price relative to its earnings per share (EPS). Before we can calculate the PE ratio we need to know the EPS. EPS is calculated as follows:

EPS = (net profit - preferred dividends) \ end of period outstanding shares*
Net profit = revenue - expenses
0 \ 222,611 = EPS
PE ratio MRQ = 16.14

* The net profit minus preferred dividends can be found in the incomestatement as netIncomeApplicableToCommonShares.

The PE value helps investors to determine if the current stock price is under or overvalued. It also projects future growth.

In general, a higher PE ratio means that investors predict higher future growth. If the PE ratio is too high, then investors expect way too much future growth the company can never fulfil. This is most likely to happen in faster moving companies like tech companies or automobile companies like Tesla. These are hot and booming markets where investors expect much future growth driven by new technology (electric cars). When looking at the current MRQ (most recent quarter) PE ratio of Tesla ( jan. 2021) it's about 247 while the average in the industry is only 6. That might be a clue that Tesla is trading for way too high prices compared to their current assets and is more based on future growth.

2.2. Price To Free Cash Flow Ratio

Let's take a look of the Price To Free Cash Flow Ratio trends of Targa Resources Inc:

The EOD is 27.552. Based on how much money comes from the company's main activities, the company is underpriced. +1
The MRQ is 20.339. Based on how much money comes from the company's main activities, the company is underpriced. +1
The TTM is 13.740. Based on how much money comes from the company's main activities, the company is cheap. +2

Trends

Current period		Compared to		+/-
EOD	27.552	MRQ	20.339	+7.214
MRQ	20.339	TTM	13.740	+6.599
TTM	13.740	YOY	73.533	-59.792
TTM	13.740	5Y	27.986	-14.245
5Y	27.986	10Y	9.112	+18.874

Compared to industry (Oil & Gas Midstream)

Period	Company	Industry (mean)	+/-
EOD	27.552	5.291	+22.261
MRQ	20.339	4.563	+15.776
TTM	13.740	5.341	+8.399
YOY	73.533	5.484	+68.049
5Y	27.986	3.214	+24.772
10Y	9.112	3.544	+5.568

2. Book Value per Share

2.3. Price to Book Ratio

Measures if the stock price of Targa Resources Inc is to cheap or to expensive compared to its book value.

At or below 1 is considered healthy (always compare to Oil & Gas Midstream industry mean).
A PB ratio of 4.19 means the investor is paying $4.19 for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of Targa Resources Inc:

The EOD is 5.683. Based on the equity, the company is overpriced. -1
The MRQ is 4.195. Based on the equity, the company is fair priced.
The TTM is 4.049. Based on the equity, the company is fair priced.

Trends

Current period		Compared to		+/-
EOD	5.683	MRQ	4.195	+1.488
MRQ	4.195	TTM	4.049	+0.146
TTM	4.049	YOY	3.273	+0.776
TTM	4.049	5Y	2.200	+1.848
5Y	2.200	10Y	2.948	-0.748

Compared to industry (Oil & Gas Midstream)

Period	Company	Industry (mean)	+/-
EOD	5.683	1.314	+4.369
MRQ	4.195	1.239	+2.956
TTM	4.049	1.218	+2.831
YOY	3.273	1.107	+2.166
5Y	2.200	1.025	+1.175
10Y	2.948	1.206	+1.742

2. Total Gains per Share

3. Holders & Insider Transactions

Let's take a look at which institutions, funds and insiders are holding shares of Targa Resources Inc.

3.1. Institutions holding Targa Resources Inc

Institutions are holding 94.178% of the shares of Targa Resources Inc.

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2023-12-31	Vanguard Group Inc	12.0494	0.0509	26814175	-30890	-0.1151
2023-12-31	BlackRock Inc	9.0014	0.0444	20031238	1464872	7.8899
2023-12-31	State Street Corporation	6.5185	0.0613	14505888	-397814	-2.6692
2023-12-31	Blackstone Inc	4.2433	3.6873	9442728	3554989	60.3795
2023-12-31	Wellington Management Company LLP	3.3956	0.1224	7556482	-762542	-9.1662
2023-12-31	Goldman Sachs Group Inc	3.288	0.0571	7317056	3575521	95.5629
2023-12-31	Tortoise Midstream Energy Fund, Inc.	3.053	9.1085	6793909	-791116	-10.43
2023-12-31	Amvescap Plc.	3.0312	0.1394	6745418	319607	4.9738
2023-12-31	Deutsche Bank AG	2.3985	0.2365	5337568	-239459	-4.2937
2023-12-31	Geode Capital Management, LLC	2.2284	0.045	4959049	110934	2.2882
2023-12-31	Morgan Stanley - Brokerage Accounts	1.6747	0.0285	3726866	-64586	-1.7035
2023-12-31	Neuberger Berman Group LLC	1.6238	0.2737	3613560	-181961	-4.7941
2023-12-31	Kayne Anderson Capital Advisors LP	1.3302	7.9927	2960266	-153286	-4.9232
2023-12-31	FMR Inc	1.2904	0.0192	2871666	440340	18.1111
2023-12-31	Zimmer Partners LP	1.1607	8.2179	2582900	200300	8.4068
2023-12-31	Jennison Associates LLC	1.1169	0.1609	2485552	-1955	-0.0786
2023-12-31	Chickasaw Capital Management, LLC	1.1063	11.201	2461884	-146865	-5.6297
2023-09-30	Citadel Advisors Llc	1.0648	0.0435	2369550	643805	37.3059
2023-12-31	Northern Trust Corp	0.9931	0.0348	2209951	-70901	-3.1085
2023-12-31	Legal & General Group PLC	0.9902	0.0491	2203506	318258	16.8815
Total		61.5584	41.5741	136989212	+7787251	+5.7%

3.2. Funds holding Targa Resources Inc

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2024-02-29	Vanguard Total Stock Mkt Idx Inv	3.1452	0.0444	6999082	-16471	-0.2348
2024-03-31	Vanguard Small Cap Index	2.558	0.4331	5692482	-60335	-1.0488
2024-03-31	Vanguard Institutional 500 Index Trust	2.5258	0.0566	5620728	54551	0.98
2024-03-31	Energy Select Sector SPDR® ETF	2.3823	1.4979	5301406	-25225	-0.4736
2024-03-31	Vanguard Small Cap Growth Index Inv	1.4481	0.9928	3222478	-2318	-0.0719
2024-03-31	SPDR® S&P 500 ETF Trust	1.2083	0.0565	2688789	-20856	-0.7697
2024-02-29	Fidelity 500 Index	1.2017	0.051	2674251	26909	1.0165
2024-03-31	Tortoise Energy Infrastructure TR Ins	1.077	11.2841	2396649	-48127	-1.9686
2024-03-28	iShares Core S&P 500 ETF	1.0388	0.0565	2311601	17024	0.7419
2024-03-31	Tortoise Strategic Midsteam Composite	0.815	11.823	1813729	381391	26.6272
2023-12-31	Vanguard Energy Inv	0.7598	2.6135	1690869	-27088	-1.5768
2023-12-31	MFS Mid Cap Value Equity	0.6966	0.8314	1550145	-27013	-1.7128
2024-02-29	MFS Mid Cap Value A	0.6883	0.9131	1531764	-18381	-1.1858
2024-03-31	Vanguard Institutional Index I	0.6608	0.0566	1470417	1521	0.1035
2023-12-31	Invesco SteelPath MLP Alpha Y	0.5996	13.5124	1334421	179007	15.4929
2024-02-29	Hartford MidCap Y	0.519	1.7488	1155016	-32223	-2.7141
2024-03-31	State St S&P 500® Indx SL Cl III	0.4868	0.0561	1083206	4100	0.3799
2024-03-31	Vanguard Energy ETF	0.4857	1.138	1080956	-17024	-1.5505
2023-12-31	Goldman Sachs MLP Energy Infras Instl	0.4679	5.5306	1041196	457	0.0439
Total		22.7647	52.6964	50659185	+369899	+0.7%

3.3. Insider Transactions

Insiders are holding 1.479% of the shares of Targa Resources Inc.

Date	Owner	Type	Amount	Price
2024-02-26	D. Scott Pryor	SELL	10000	97
2024-02-23	Robert Muraro	SELL	10000	97.31
2024-02-22	Joe Bob Perkins	SELL	33405	97.67
2024-02-21	Jennifer R Kneale	SELL	26061	97.36
2024-02-21	Julie H Boushka	SELL	2500	97.66
2023-11-13	Charles R Crisp	SELL	3000	85.01
2023-11-02	Julie H Boushka	SELL	2000	90
2023-11-02	Robert Muraro	SELL	10000	90.03
2023-08-11	G Clark White	SELL	2577	84.72
2023-08-10	Regina Gregory	SELL	1819	84.58
2023-08-08	Charles R Crisp	SELL	3500	82.22
2023-08-08	Julie H Boushka	SELL	1000	80.81
2023-08-04	Julie H Boushka	SELL	3530	85
2023-07-21	Julie H Boushka	SELL	2184	80

4. Summary

4.1. Key Performance Indicators

The key performance indicators of Targa Resources Inc compared to the Most Recent Quarter (MRQ).

	End of day	+/-	Most Recent Quarter	Trailing 12 Months	+/-	Year-Over-Year	+/-	5 Year	+/-	10 Year	+/-
Book Value Change Per Share	-	-	1.261	-0.333	+126%	0.148	+751%	-0.626	+150%	0.283	+346%
Book Value Per Share	-	-	20.709	19.854	+4%	20.523	+1%	25.526	-19%	25.768	-20%
Current Ratio	-	-	0.795	0.750	+6%	0.711	+12%	0.781	+2%	0.850	-6%
Debt To Asset Ratio	-	-	0.791	0.777	+2%	0.726	+9%	0.647	+22%	0.597	+33%
Debt To Equity Ratio	-	-	6.357	5.993	+6%	5.300	+20%	3.855	+65%	5.337	+19%
Dividend Per Share	-	-	0.505	0.473	+7%	0.412	+23%	0.503	+0%	0.614	-18%
Eps	-	-	1.346	0.944	+43%	0.977	+38%	-0.051	+104%	-0.084	+106%
Free Cash Flow Per Share	-	-	1.068	0.906	+18%	1.128	-5%	0.585	+83%	0.091	+1073%
Free Cash Flow To Equity Per Share	-	-	0.151	-0.041	+127%	3.127	-95%	0.596	-75%	0.564	-73%
Gross Profit Margin	-	-	1.000	1.000	0%	1.000	0%	1.000	0%	1.000	0%
Intrinsic Value_10Y_max	-	-	74.842	-	-	-	-	-	-	-	-
Intrinsic Value_10Y_min	-	-	-32.351	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_max	-	-	5.375	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_min	-	-	-0.250	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_max	-	-	17.770	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_min	-	-	-3.347	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_max	-	-	32.116	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_min	-	-	-9.265	-	-	-	-	-	-	-	-
Market Cap	26187919741.440	+26%	19338240069.330	18155181767.333	+7%	15468793207.875	+25%	11800088445.042	+64%	13194111040.849	+47%
Net Profit Margin	-	-	0.071	0.083	-15%	0.064	+11%	-0.011	+115%	-0.006	+108%
Operating Margin	-	-	0.148	0.164	-9%	0.084	+77%	0.216	-31%	0.130	+14%
Operating Ratio	-	-	0.852	0.837	+2%	0.916	-7%	0.894	-5%	0.922	-8%
Pb Ratio	5.683	+26%	4.195	4.049	+4%	3.273	+28%	2.200	+91%	2.948	+42%
Pe Ratio	21.860	+26%	16.137	178.830	-91%	93.762	-83%	-45.505	+382%	42.845	-62%
Price Per Share	117.680	+26%	86.870	80.410	+8%	67.245	+29%	49.874	+74%	57.648	+51%
Price To Free Cash Flow Ratio	27.552	+26%	20.339	13.740	+48%	73.533	-72%	27.986	-27%	9.112	+123%
Price To Total Gains Ratio	66.642	+26%	49.194	-346.678	+805%	-36.432	+174%	-47.245	+196%	-71.521	+245%
Quick Ratio	-	-	0.665	0.553	+20%	0.581	+14%	0.666	0%	0.686	-3%
Return On Assets	-	-	0.014	0.017	-19%	0.020	-32%	0.002	+522%	0.001	+915%
Return On Equity	-	-	0.109	0.129	-15%	0.148	-26%	0.031	+253%	0.032	+241%
Total Gains Per Share	-	-	1.766	0.140	+1159%	0.560	+215%	-0.123	+107%	0.897	+97%
Usd Book Value	-	-	4610000000.000	4485050000.000	+3%	4720375000.000	-2%	6093520000.000	-24%	5952370000.000	-23%
Usd Book Value Change Per Share	-	-	1.261	-0.333	+126%	0.148	+751%	-0.626	+150%	0.283	+346%
Usd Book Value Per Share	-	-	20.709	19.854	+4%	20.523	+1%	25.526	-19%	25.768	-20%
Usd Dividend Per Share	-	-	0.505	0.473	+7%	0.412	+23%	0.503	+0%	0.614	-18%
Usd Eps	-	-	1.346	0.944	+43%	0.977	+38%	-0.051	+104%	-0.084	+106%
Usd Free Cash Flow	-	-	237700000.000	206550000.000	+15%	261625000.000	-9%	148770000.000	+60%	28475000.000	+735%
Usd Free Cash Flow Per Share	-	-	1.068	0.906	+18%	1.128	-5%	0.585	+83%	0.091	+1073%
Usd Free Cash Flow To Equity Per Share	-	-	0.151	-0.041	+127%	3.127	-95%	0.596	-75%	0.564	-73%
Usd Market Cap	26187919741.440	+26%	19338240069.330	18155181767.333	+7%	15468793207.875	+25%	11800088445.042	+64%	13194111040.849	+47%
Usd Price Per Share	117.680	+26%	86.870	80.410	+8%	67.245	+29%	49.874	+74%	57.648	+51%
Usd Profit	-	-	299600000.000	336475000.000	-11%	340575000.000	-12%	50815000.000	+490%	26122500.000	+1047%
Usd Revenue	-	-	4231800000.000	4013150000.000	+5%	5232450000.000	-19%	3543185000.000	+19%	2806205000.000	+51%
Usd Total Gains Per Share	-	-	1.766	0.140	+1159%	0.560	+215%	-0.123	+107%	0.897	+97%
	EOD	+4 -4	MRQ	TTM	+24 -11	YOY	+21 -14	5Y	+23 -12	10Y	+21 -14

4.2. Fundamental Score

Let's check the fundamental score of Targa Resources Inc based on Penke's default stock scanner.

Penke's Stock Scanner

Indicator	Condition		Value
Price to Earnings Ratio (EOD)	Between	0-15	21.860
Price to Book Ratio (EOD)	Between	0-1	5.683
Net Profit Margin (MRQ)	Greater than	0	0.071
Operating Margin (MRQ)	Greater than	0	0.148
Quick Ratio (MRQ)	Greater than	1	0.665
Current Ratio (MRQ)	Greater than	1	0.795
Debt to Asset Ratio (MRQ)	Less than	1	0.791
Debt to Equity Ratio (MRQ)	Less than	1	6.357
Return on Equity (MRQ)	Greater than	0.15	0.109
Return on Assets (MRQ)	Greater than	0.05	0.014
Total			3/10 (30.0%)

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4.3. Technical Score

Let's check the technical score of Targa Resources Inc based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	71.263
Ma 20	Greater than	Ma 50	114.433
Ma 50	Greater than	Ma 100	107.427
Ma 100	Greater than	Ma 200	96.610
Open	Greater than	Close	117.010
Total			4/5 (80.0%)

Create your own Symbol Scanner

Trading is personal. The best traders buy and sell based on their own technical analysis. Create your personal Symbol Scanner with the technical indicators that are important to you.
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Reversals in quarterly reports

I have detected a reversal (positive to negative, negative to positive) in the following values of the quarterly reports.

		2022-12-31		2023-03-31		2023-06-30		2023-09-30		2023-12-31
Long-term Assets Other		-1,419,000	1,264,100	-154,900	-82,000	-236,900	-49,500	-286,400	427,000	140,600

Latest Balance Sheet

Balance Sheet of 2023-12-31. Currency in USD. All numbers in thousands.

Summary

Total Assets	22,026,900
Total Liabilities	17,416,900
Total Stockholder Equity	2,739,700

	As reported
Total Liabilities	17,416,900
Total Stockholder Equity	+ 2,739,700
Total Assets	= 22,026,900

Assets

Total Assets	22,026,900
Total Current Assets	2,194,600
Long-term Assets	19,832,300

Total Current Assets

Total Current Assets (as reported)	2,194,600
Cash And Cash Equivalents	141,700
Short-term Investments	111,900
Net Receivables	1,471,000
Inventory	371,500
Other Current Assets	98,500
Total Current Assets (calculated)	2,194,600
+/-	0

Long-term Assets

Long-term Assets (as reported)	19,832,300
Property Plant Equipment	15,806,400
Goodwill	45,200
Long Term Investments	146,300
Intangible Assets	2,350,600
Long-term Assets Other	140,600
Long-term Assets (calculated)	18,489,100
+/-	1,343,200

Liabilities & Shareholders' Equity

Total Current Liabilities	2,760,900
Long-term Liabilities	14,656,000
Total Stockholder Equity	2,739,700

Total Current Liabilities

Total Current Liabilities (as reported)	2,760,900
Short-term Debt	620,700
Short Long Term Debt	575,000
Accounts payable	1,574,900
Other Current Liabilities	565,300
Total Current Liabilities (calculated)	3,335,900
+/-	575,000

Long-term Liabilities

Long-term Liabilities (as reported)	14,656,000
Long term Debt	12,089,100
Capital Lease Obligations	346,300
Long-term Liabilities Other	6,800
Long-term Liabilities (calculated)	12,442,200
+/-	2,213,800

Total Stockholder Equity

Total Stockholder Equity (as reported)	2,739,700
Common Stock	200
Retained Earnings	492,000
Accumulated Other Comprehensive Income	85,600
Total Stockholder Equity (calculated)	577,800
+/-	2,161,900

Other

Capital Stock	200
Cash and Short Term Investments	253,600
Common Stock Shares Outstanding	222,611
Liabilities and Stockholders Equity	22,026,900
Net Debt	12,868,700
Net Invested Capital	15,403,800
Net Working Capital	-566,300
Property Plant and Equipment Gross	26,265,200
Short Long Term Debt Total	13,010,400

Balance Sheet

Currency in USD. All numbers in thousands.

Trend

2023-12-31

2023-09-30

2023-06-30

2023-03-31

2022-12-31

2022-09-30

2022-06-30

2022-03-31

2021-12-31

2021-09-30

2021-06-30

2021-03-31

2020-12-31

2020-09-30

2020-06-30

2020-03-31

2019-12-31

2019-09-30

2019-06-30

2019-03-31

2018-12-31

2018-09-30

2018-06-30

2018-03-31

2017-12-31

2017-09-30

2017-06-30

2017-03-31

2016-12-31

2016-09-30

2016-06-30

2016-03-31

2015-12-31

2015-09-30

2015-06-30

2015-03-31

2014-12-31

2014-09-30

2014-06-30

2014-03-31

2013-12-31

2013-09-30

2013-06-30

2013-03-31

2012-12-31

2012-09-30

2012-06-30

2012-03-31

2011-12-31

2011-09-30

2011-06-30

2011-03-31

2010-12-31

2010-09-30

2010-06-30

2010-03-31

2009-12-31

2009-09-30

2008-12-31

> Total Assets

3,641,800
0
3,367,500
0
3,321,400
3,442,000
3,393,800
3,322,400
3,501,300
3,790,400
3,831,000
3,698,400
3,780,500
3,881,500
5,105,000
5,148,500
5,407,100
5,725,300
6,048,600
6,055,200
6,328,400
6,491,900
6,453,500
13,625,300
13,352,900
13,418,200
13,253,700
12,949,200
13,000,100
13,055,600
12,871,200
13,653,800
13,918,400
13,998,300
14,388,600
14,753,200
15,596,100
16,569,100
16,938,200
17,569,200
18,318,200
18,918,500
18,815,100
16,026,800
15,965,400
16,052,100
15,875,700
15,648,400
15,411,800
15,972,700
15,208,200
15,295,400
15,334,300
19,389,900
19,560,000
19,025,500
19,461,800
20,189,600
22,026,900

22,026,900

20,189,600

19,461,800

19,025,500

19,560,000

19,389,900

15,334,300

15,295,400

15,208,200

15,972,700

15,411,800

15,648,400

15,875,700

16,052,100

15,965,400

16,026,800

18,815,100

18,918,500

18,318,200

17,569,200

16,938,200

16,569,100

15,596,100

14,753,200

14,388,600

13,998,300

13,918,400

13,653,800

12,871,200

13,055,600

13,000,100

12,949,200

13,253,700

13,418,200

13,352,900

13,625,300

6,453,500

6,491,900

6,328,400

6,055,200

6,048,600

5,725,300

5,407,100

5,148,500

5,105,000

3,881,500

3,780,500

3,698,400

3,831,000

3,790,400

3,501,300

3,322,400

3,393,800

3,442,000

3,321,400

3,367,500

3,641,800

> Total Current Assets

0
0
745,000
0
688,700
785,700
750,500
638,700
779,400
890,700
866,500
676,200
649,500
666,400
733,300
631,200
697,900
809,000
897,200
809,900
939,200
1,053,100
882,600
1,067,600
963,500
1,001,100
920,000
715,900
856,700
976,700
1,006,800
812,100
914,900
1,200,800
1,269,900
1,160,300
1,431,500
1,726,400
1,418,900
1,181,000
1,211,900
1,476,000
1,658,300
1,214,300
1,225,000
1,444,400
1,460,300
1,408,800
1,317,900
1,993,300
1,769,800
1,900,500
2,164,100
2,497,300
2,356,600
1,638,800
1,728,800
2,139,300
2,194,600

2,194,600

2,139,300

1,728,800

1,638,800

2,356,600

2,497,300

2,164,100

1,900,500

1,769,800

1,993,300

1,317,900

1,408,800

1,460,300

1,444,400

1,225,000

1,214,300

1,658,300

1,476,000

1,211,900

1,181,000

1,418,900

1,726,400

1,431,500

1,160,300

1,269,900

1,200,800

914,900

812,100

1,006,800

976,700

856,700

715,900

920,000

1,001,100

963,500

1,067,600

882,600

1,053,100

939,200

809,900

897,200

809,000

697,900

631,200

733,300

666,400

649,500

676,200

866,500

890,700

779,400

638,700

750,500

785,700

688,700

745,000

Cash And Cash Equivalents

362,800
0
252,400
0
249,400
332,000
188,400
147,700
154,700
154,100
145,800
121,200
117,500
120,700
76,300
112,700
82,900
83,700
66,700
94,900
75,900
78,800
81,000
170,700
105,700
102,900
140,200
114,500
170,900
141,100
73,500
80,000
98,700
114,100
137,200
219,800
281,600
203,200
232,100
124,900
226,500
326,300
331,100
375,200
196,200
275,000
242,800
248,500
209,000
228,600
158,500
135,900
154,000
192,900
219,000
211,800
169,400
139,500
141,700

141,700

139,500

169,400

211,800

219,000

192,900

154,000

135,900

158,500

228,600

209,000

248,500

242,800

275,000

196,200

375,200

331,100

326,300

226,500

124,900

232,100

203,200

281,600

219,800

137,200

114,100

98,700

80,000

73,500

141,100

170,900

114,500

140,200

102,900

105,700

170,700

81,000

78,800

75,900

94,900

66,700

83,700

82,900

112,700

76,300

120,700

117,500

121,200

145,800

154,100

154,700

147,700

188,400

332,000

249,400

252,400

362,800

Short-term Investments

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
718,000
714,000
695,000
685,000
0
0
0
80,800
185,800
179,900
0
0
84,200
111,900

111,900

84,200

179,900

185,800

80,800

685,000

695,000

714,000

718,000

Net Receivables

303,900
0
404,300
0
330,700
350,500
466,600
444,600
495,800
544,500
575,700
462,600
368,100
416,200
514,900
427,600
435,800
498,500
658,800
610,400
682,600
698,100
567,300
675,600
602,500
621,000
515,800
428,400
490,100
625,900
742,400
608,300
552,400
715,000
827,600
745,600
867,200
1,037,200
865,500
752,800
637,200
744,000
855,000
438,100
547,200
609,800
862,800
997,100
901,800
1,291,000
1,331,900
1,567,200
1,612,600
1,534,900
1,408,400
1,023,400
988,100
1,241,100
1,471,000

1,471,000

1,241,100

988,100

1,023,400

1,408,400

1,534,900

1,612,600

1,567,200

1,331,900

1,291,000

901,800

997,100

862,800

609,800

547,200

438,100

855,000

744,000

637,200

752,800

865,500

1,037,200

867,200

745,600

827,600

715,000

552,400

608,300

742,400

625,900

490,100

428,400

515,800

621,000

602,500

675,600

567,300

698,100

682,600

610,400

658,800

498,500

435,800

427,600

514,900

416,200

368,100

462,600

575,700

544,500

495,800

444,600

466,600

350,500

330,700

404,300

303,900

Inventory

68,500
0
39,400
0
49,300
55,000
50,400
5,200
69,900
139,400
92,200
45,500
89,700
84,400
99,400
66,000
138,300
201,700
150,700
88,500
151,700
251,200
168,900
78,200
124,800
151,100
141,000
61,700
111,000
150,300
137,700
75,500
197,700
267,400
204,500
96,700
181,400
177,900
164,700
197,900
205,100
210,900
161,500
100,200
219,300
261,700
181,500
51,600
65,600
316,800
153,400
97,500
202,200
471,300
393,800
156,200
312,300
536,200
371,500

371,500

536,200

312,300

156,200

393,800

471,300

202,200

97,500

153,400

316,800

65,600

51,600

181,500

261,700

219,300

100,200

161,500

210,900

205,100

197,900

164,700

177,900

181,400

96,700

204,500

267,400

197,700

75,500

137,700

150,300

111,000

61,700

141,000

151,100

124,800

78,200

168,900

251,200

151,700

88,500

150,700

201,700

138,300

66,000

99,400

84,400

89,700

45,500

92,200

139,400

69,900

5,200

50,400

55,000

49,300

39,400

68,500

> Long-term Assets

0
0
2,622,500
0
2,632,700
2,656,300
2,643,300
2,683,700
2,721,900
2,899,700
2,964,500
3,022,200
3,131,000
3,215,100
4,371,700
4,517,300
4,709,200
4,916,300
5,151,400
5,245,300
5,389,200
5,438,800
5,570,900
12,557,700
12,389,400
12,417,100
12,333,700
12,233,300
12,143,400
12,078,900
11,864,400
12,841,700
13,003,500
12,797,500
13,118,700
13,592,900
14,164,600
14,842,700
15,519,300
16,388,200
17,106,300
17,442,500
17,156,800
14,812,500
14,740,400
14,607,700
14,415,400
14,239,600
14,093,900
13,979,400
13,438,400
13,394,900
13,170,200
16,892,600
17,203,400
17,386,700
17,733,000
18,050,300
19,832,300

19,832,300

18,050,300

17,733,000

17,386,700

17,203,400

16,892,600

13,170,200

13,394,900

13,438,400

13,979,400

14,093,900

14,239,600

14,415,400

14,607,700

14,740,400

14,812,500

17,156,800

17,442,500

17,106,300

16,388,200

15,519,300

14,842,700

14,164,600

13,592,900

13,118,700

12,797,500

13,003,500

12,841,700

11,864,400

12,078,900

12,143,400

12,233,300

12,333,700

12,417,100

12,389,400

12,557,700

5,570,900

5,438,800

5,389,200

5,245,300

5,151,400

4,916,300

4,709,200

4,517,300

4,371,700

3,215,100

3,131,000

3,022,200

2,964,500

2,899,700

2,721,900

2,683,700

2,643,300

2,656,300

2,632,700

2,622,500

Property Plant Equipment

2,617,400
0
2,548,100
0
2,508,200
2,494,900
2,509,000
2,543,700
2,587,400
2,616,800
2,819,500
2,872,000
2,964,500
3,061,200
3,538,000
3,692,400
3,883,400
4,109,400
4,349,900
4,464,300
4,623,800
4,693,700
4,824,600
9,833,000
9,684,300
9,750,200
9,702,700
9,734,600
9,702,500
9,680,200
9,691,000
9,963,400
10,226,800
10,068,800
10,430,000
10,841,600
11,421,300
12,080,900
12,928,400
13,703,400
14,368,800
14,696,900
14,548,500
12,411,800
12,417,400
12,292,800
12,173,600
12,060,700
11,996,600
11,922,400
11,667,700
11,653,000
11,878,300
13,716,400
14,214,600
14,470,000
14,890,400
15,333,500
15,806,400

15,806,400

15,333,500

14,890,400

14,470,000

14,214,600

13,716,400

11,878,300

11,653,000

11,667,700

11,922,400

11,996,600

12,060,700

12,173,600

12,292,800

12,417,400

12,411,800

14,548,500

14,696,900

14,368,800

13,703,400

12,928,400

12,080,900

11,421,300

10,841,600

10,430,000

10,068,800

10,226,800

9,963,400

9,691,000

9,680,200

9,702,500

9,734,600

9,702,700

9,750,200

9,684,300

9,833,000

4,824,600

4,693,700

4,623,800

4,464,300

4,349,900

4,109,400

3,883,400

3,692,400

3,538,000

3,061,200

2,964,500

2,872,000

2,819,500

2,616,800

2,587,400

2,543,700

2,509,000

2,494,900

2,508,200

2,548,100

2,617,400

Goodwill

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
628,500
557,900
551,400
417,000
393,000
393,000
393,000
210,000
369,000
256,600
256,600
256,600
256,600
256,600
256,600
46,600
46,600
46,600
46,600
45,200
0
0
0
0
0
0
0
0
0
0
0
45,200
45,200
0
0
45,200

45,200

46,600

256,600

369,000

210,000

393,000

417,000

551,400

557,900

628,500

Long Term Investments

0
0
0
0
0
0
0
0
0
0
0
0
0
0
5,100
3,200
0
0
3,100
0
1,600
0
15,800
51,200
40,300
45,400
34,900
280,100
263,800
259,300
245,900
248,600
235,700
235,800
244,800
354,800
385,600
449,900
524,600
605,900
676,700
718,500
738,700
736,800
724,300
798,300
763,300
737,000
685,200
688,000
594,200
587,100
157,600
186,600
155,800
170,900
131,800
138,300
146,300

146,300

138,300

131,800

170,900

155,800

186,600

157,600

587,100

594,200

688,000

685,200

737,000

763,300

798,300

724,300

736,800

738,700

718,500

676,700

605,900

524,600

449,900

385,600

354,800

244,800

235,800

235,700

248,600

245,900

259,300

263,800

280,100

34,900

45,400

40,300

51,200

15,800

1,600

3,100

3,200

5,100

Intangible Assets

0
0
0
0
0
0
0
0
0
0
0
0
0
0
680,800
674,100
667,100
660,300
653,400
638,100
622,700
607,300
591,900
1,602,400
1,735,600
1,695,700
1,810,100
1,765,100
1,726,000
1,693,000
1,654,000
2,238,800
2,264,700
2,214,800
2,165,800
2,120,100
2,074,300
2,029,600
1,983,200
1,940,200
1,897,300
1,854,400
1,735,000
1,488,000
1,452,800
1,417,600
1,382,400
1,349,600
1,316,900
1,284,200
1,094,800
1,066,800
1,038,800
2,839,700
2,734,600
2,638,600
2,542,600
2,446,600
2,350,600

2,350,600

2,446,600

2,542,600

2,638,600

2,734,600

2,839,700

1,038,800

1,066,800

1,094,800

1,284,200

1,316,900

1,349,600

1,382,400

1,417,600

1,452,800

1,488,000

1,735,000

1,854,400

1,897,300

1,940,200

1,983,200

2,029,600

2,074,300

2,120,100

2,165,800

2,214,800

2,264,700

2,238,800

1,654,000

1,693,000

1,726,000

1,765,100

1,810,100

1,695,700

1,735,600

1,602,400

591,900

607,300

622,700

638,100

653,400

660,300

667,100

674,100

680,800

Accumulated depreciation

0
0
0
0
0
0
0
0
910,900
-955,400
0
0
0
0
-1,170,000
-1,227,200
0
0
-1,408,500
0
-1,541,800
0
-1,696,500
-1,791,600
-1,917,700
-2,048,200
-2,232,400
-2,380,000
-2,526,900
-2,674,300
-2,827,700
-2,993,600
-3,086,800
-3,623,200
-3,775,400
-3,927,200
-4,029,700
-4,140,600
-4,292,300
-4,485,900
-4,679,900
-4,899,100
-5,328,300
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

-5,328,300

-4,899,100

-4,679,900

-4,485,900

-4,292,300

-4,140,600

-4,029,700

-3,927,200

-3,775,400

-3,623,200

-3,086,800

-2,993,600

-2,827,700

-2,674,300

-2,526,900

-2,380,000

-2,232,400

-2,048,200

-1,917,700

-1,791,600

-1,696,500

-1,541,800

-1,408,500

-1,227,200

-1,170,000

-955,400

910,900

Long-term Assets Other

0
0
74,400
0
124,500
161,400
134,300
140,000
120,700
282,700
108,200
98,500
95,100
91,800
94,700
92,200
93,700
93,400
92,100
84,900
86,400
85,600
88,400
123,300
121,800
122,100
110,100
-1,031,300
-1,011,300
-1,075,900
63,500
-908,100
-815,900
-693,300
21,500
-448,400
-470,700
-453,400
36,500
-415,500
-395,800
-401,600
53,900
-28,500
11,300
47,400
96,100
-27,700
-28,900
19,500
81,700
7,300
-97,400
-101,300
-1,419,000
-154,900
-236,900
-286,400
140,600

140,600

-286,400

-236,900

-154,900

-1,419,000

-101,300

-97,400

7,300

81,700

19,500

-28,900

-27,700

96,100

47,400

11,300

-28,500

53,900

-401,600

-395,800

-415,500

36,500

-453,400

-470,700

-448,400

21,500

-693,300

-815,900

-908,100

63,500

-1,075,900

-1,011,300

-1,031,300

110,100

122,100

121,800

123,300

88,400

85,600

86,400

84,900

92,100

93,400

93,700

92,200

94,700

91,800

95,100

98,500

108,200

282,700

120,700

140,000

134,300

161,400

124,500

74,400

> Total Liabilities

2,552,400
0
2,612,600
0
2,452,300
2,368,900
2,357,700
2,040,800
2,197,300
2,457,900
2,500,300
2,233,100
2,272,200
2,454,200
3,351,600
3,345,300
3,525,800
3,750,700
3,957,300
3,856,200
4,085,400
4,142,100
3,914,000
7,030,900
6,860,700
7,038,300
7,003,500
6,894,900
6,983,100
6,993,100
6,956,000
7,286,000
6,779,900
7,243,100
7,416,100
7,565,300
8,115,300
9,060,900
9,221,700
9,978,300
9,117,400
9,828,500
10,093,400
9,366,500
9,399,300
9,534,100
9,671,100
9,376,300
9,265,600
9,823,100
9,279,800
10,528,400
10,933,400
14,658,500
14,577,800
14,613,300
14,921,600
15,811,800
17,416,900

17,416,900

15,811,800

14,921,600

14,613,300

14,577,800

14,658,500

10,933,400

10,528,400

9,279,800

9,823,100

9,265,600

9,376,300

9,671,100

9,534,100

9,399,300

9,366,500

10,093,400

9,828,500

9,117,400

9,978,300

9,221,700

9,060,900

8,115,300

7,565,300

7,416,100

7,243,100

6,779,900

7,286,000

6,956,000

6,993,100

6,983,100

6,894,900

7,003,500

7,038,300

6,860,700

7,030,900

3,914,000

4,142,100

4,085,400

3,856,200

3,957,300

3,750,700

3,525,800

3,345,300

3,351,600

2,454,200

2,272,200

2,233,100

2,500,300

2,457,900

2,197,300

2,040,800

2,357,700

2,368,900

2,452,300

2,612,600

2,552,400

> Total Current Liabilities

466,600
0
553,800
0
563,500
525,000
624,200
540,000
702,700
673,500
741,100
569,300
487,800
526,300
686,600
633,100
608,600
687,100
770,400
758,400
818,900
802,700
827,100
982,900
847,000
862,200
881,600
693,000
937,600
948,800
1,167,600
1,424,300
1,395,600
1,633,300
1,616,600
1,384,300
1,953,300
2,556,400
2,798,800
2,041,600
1,658,000
1,669,300
1,872,600
1,196,000
1,319,700
1,380,900
1,779,400
1,765,000
2,102,100
2,868,300
2,298,500
2,910,400
3,153,400
3,393,700
3,066,700
2,466,600
2,320,600
2,682,100
2,760,900

2,760,900

2,682,100

2,320,600

2,466,600

3,066,700

3,393,700

3,153,400

2,910,400

2,298,500

2,868,300

2,102,100

1,765,000

1,779,400

1,380,900

1,319,700

1,196,000

1,872,600

1,669,300

1,658,000

2,041,600

2,798,800

2,556,400

1,953,300

1,384,300

1,616,600

1,633,300

1,395,600

1,424,300

1,167,600

948,800

937,600

693,000

881,600

862,200

847,000

982,900

827,100

802,700

818,900

758,400

770,400

687,100

608,600

633,100

686,600

526,300

487,800

569,300

741,100

673,500

702,700

540,000

624,200

525,000

563,500

553,800

466,600

Short-term Debt

0
0
12,500
0
0
0
332,200
0
56,900
34,700
0
0
0
0
107,800
8,200
0
0
8,000
0
12,500
0
182,800
197,900
124,200
135,500
219,300
150,000
225,000
225,000
275,000
534,900
500,100
528,400
350,000
300,000
180,000
290,000
1,027,900
318,100
309,300
258,000
382,200
280,600
261,900
261,900
368,600
282,000
371,700
352,600
162,800
283,800
414,600
766,500
834,300
739,000
586,000
602,000
620,700

620,700

602,000

586,000

739,000

834,300

766,500

414,600

283,800

162,800

352,600

371,700

282,000

368,600

261,900

280,600

382,200

258,000

309,300

318,100

1,027,900

290,000

180,000

300,000

350,000

528,400

500,100

534,900

275,000

225,000

150,000

219,300

135,500

124,200

197,900

182,800

12,500

8,000

8,200

107,800

34,700

56,900

332,200

12,500

Short Long Term Debt

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
182,800
0
0
0
219,300
2,000
14,900
13,000
275,000
557,100
4,514,800
528,400
350,000
300,000
180,000
290,000
1,027,900
307,600
298,300
246,000
370,000
268,100
250,000
250,000
356,500
270,000
360,000
340,000
150,000
270,000
400,000
750,000
800,000
704,000
547,900
560,000
575,000

575,000

560,000

547,900

704,000

800,000

750,000

400,000

270,000

150,000

340,000

360,000

270,000

356,500

250,000

268,100

370,000

246,000

298,300

307,600

1,027,900

290,000

180,000

300,000

350,000

528,400

4,514,800

557,100

275,000

13,000

14,900

2,000

219,300

182,800

Accounts payable

153,800
0
206,400
0
158,900
174,000
254,200
191,200
326,400
298,900
345,400
403,900
292,900
428,000
571,200
524,500
508,500
586,000
667,600
637,800
706,700
678,500
527,800
618,500
509,800
518,200
528,100
420,200
528,800
533,100
691,400
634,300
674,900
823,200
1,001,200
849,700
1,112,000
1,494,200
1,200,500
1,167,300
984,500
976,500
997,100
583,400
607,700
617,700
833,800
947,700
1,034,500
1,652,300
1,402,300
1,803,500
1,901,000
1,806,400
1,448,800
1,255,300
1,173,300
1,581,300
1,574,900

1,574,900

1,581,300

1,173,300

1,255,300

1,448,800

1,806,400

1,901,000

1,803,500

1,402,300

1,652,300

1,034,500

947,700

833,800

617,700

607,700

583,400

997,100

976,500

984,500

1,167,300

1,200,500

1,494,200

1,112,000

849,700

1,001,200

823,200

674,900

634,300

691,400

533,100

528,800

420,200

528,100

518,200

509,800

618,500

527,800

678,500

706,700

637,800

667,600

586,000

508,500

524,500

571,200

428,000

292,900

403,900

345,400

298,900

326,400

191,200

254,200

174,000

158,900

206,400

153,800

Other Current Liabilities

300,300
0
29,200
0
404,600
351,000
34,200
348,800
376,300
374,600
395,700
165,400
194,900
98,300
7,400
108,600
100,100
101,100
102,800
120,600
112,200
124,200
116,400
600
1,900
4,300
-43,600
2,000
14,900
13,000
146,700
22,200
9,500
80,900
-213,600
53,600
103,200
178,000
45,200
43,300
50,900
83,500
59,100
41,800
80,500
124,700
424,900
151,200
292,000
472,300
597,400
823,100
624,400
519,400
455,900
472,300
51,100
105,800
565,300

565,300

105,800

51,100

472,300

455,900

519,400

624,400

823,100

597,400

472,300

292,000

151,200

424,900

124,700

80,500

41,800

59,100

83,500

50,900

43,300

45,200

178,000

103,200

53,600

-213,600

80,900

9,500

22,200

146,700

13,000

14,900

2,000

-43,600

4,300

1,900

600

116,400

124,200

112,200

120,600

102,800

101,100

100,100

108,600

7,400

98,300

194,900

165,400

395,700

374,600

376,300

348,800

34,200

351,000

404,600

29,200

300,300

> Long-term Liabilities

0
0
2,058,800
0
1,888,800
1,843,900
1,733,500
1,500,800
1,494,600
1,784,400
1,759,200
1,663,800
1,784,400
1,927,900
2,665,000
2,712,200
2,917,200
3,063,600
3,186,900
3,097,800
3,266,500
3,339,400
3,086,900
6,048,000
6,013,700
6,176,100
6,121,900
6,201,900
6,045,500
6,044,300
5,788,400
5,861,700
5,384,300
5,609,800
5,799,500
6,181,000
6,162,000
6,504,500
6,422,900
7,936,700
7,459,400
8,159,200
8,220,800
8,170,500
8,079,600
8,153,200
7,891,700
7,611,300
7,163,500
6,954,800
6,981,300
7,618,000
7,780,000
11,264,800
11,511,100
12,146,700
12,601,000
13,129,700
14,656,000

14,656,000

13,129,700

12,601,000

12,146,700

11,511,100

11,264,800

7,780,000

7,618,000

6,981,300

6,954,800

7,163,500

7,611,300

7,891,700

8,153,200

8,079,600

8,170,500

8,220,800

8,159,200

7,459,400

7,936,700

6,422,900

6,504,500

6,162,000

6,181,000

5,799,500

5,609,800

5,384,300

5,861,700

5,788,400

6,044,300

6,045,500

6,201,900

6,121,900

6,176,100

6,013,700

6,048,000

3,086,900

3,339,400

3,266,500

3,097,800

3,186,900

3,063,600

2,917,200

2,712,200

2,665,000

1,927,900

1,784,400

1,663,800

1,759,200

1,784,400

1,494,600

1,500,800

1,733,500

1,843,900

1,888,800

2,058,800

Long term Debt Total

0
0
0
0
0
0
0
0
1,265,800
1,603,400
0
0
0
0
2,475,300
2,522,400
0
0
2,989,300
0
3,048,200
0
2,885,400
5,838,200
5,796,100
5,938,800
5,761,500
4,921,200
4,778,300
4,725,900
4,606,000
4,213,300
3,937,500
4,368,600
4,703,000
5,064,200
5,392,500
5,678,900
5,632,400
7,118,500
6,639,000
7,279,700
7,440,200
7,670,000
7,579,600
7,652,200
7,387,100
7,090,700
6,603,800
6,434,100
6,434,400
6,964,900
7,046,200
10,431,300
10,702,100
11,439,600
0
0
0

11,439,600

10,702,100

10,431,300

7,046,200

6,964,900

6,434,400

6,434,100

6,603,800

7,090,700

7,387,100

7,652,200

7,579,600

7,670,000

7,440,200

7,279,700

6,639,000

7,118,500

5,632,400

5,678,900

5,392,500

5,064,200

4,703,000

4,368,600

3,937,500

4,213,300

4,606,000

4,725,900

4,778,300

4,921,200

5,761,500

5,938,800

5,796,100

5,838,200

2,885,400

3,048,200

2,989,300

2,522,400

2,475,300

1,603,400

1,265,800

Warrants

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
173,600
179,900
185,600
190,800
196,900
203,300
209,800
216,500
223,500
230,600
238,000
245,700
253,600
261,700
270,100
278,800
287,800
297,000
306,500
301,400
749,700
749,700
749,700
749,700
749,700
0
0
0
0
0
0
0

749,700

301,400

306,500

297,000

287,800

278,800

270,100

261,700

253,600

245,700

238,000

230,600

223,500

216,500

209,800

203,300

196,900

190,800

185,600

179,900

173,600

Long-term Liabilities Other

0
0
0
0
0
0
0
0
64,400
52,700
0
0
0
0
53,700
57,600
0
0
60,700
0
73,100
0
63,300
80,200
78,800
76,500
180,200
155,800
164,500
159,100
215,100
688,900
588,400
497,800
597,900
589,100
214,800
270,600
262,200
14,900
18,600
305,700
20,100
296,100
312,500
307,000
309,100
295,700
295,100
290,800
301,600
297,900
288,100
367,000
341,200
346,400
15,000
15,900
6,800

6,800

15,900

15,000

346,400

341,200

367,000

288,100

297,900

301,600

290,800

295,100

295,700

309,100

307,000

312,500

296,100

20,100

305,700

18,600

14,900

262,200

270,600

214,800

589,100

597,900

497,800

588,400

688,900

215,100

159,100

164,500

155,800

180,200

76,500

78,800

80,200

63,300

73,100

60,700

57,600

53,700

52,700

64,400

Deferred Long Term Liability

0
0
0
0
0
0
0
0
164,400
128,300
0
0
0
0
136,000
132,200
0
0
136,900
0
145,200
0
138,200
129,600
138,800
160,800
180,200
1,124,900
1,102,700
1,159,300
967,300
959,500
858,400
743,400
498,600
527,700
554,700
555,000
528,300
517,000
515,400
573,800
475,000
234,600
187,500
194,000
195,500
224,900
264,600
229,900
245,300
355,200
445,700
466,500
467,800
360,700
0
0
0

360,700

467,800

466,500

445,700

355,200

245,300

229,900

264,600

224,900

195,500

194,000

187,500

234,600

475,000

573,800

515,400

517,000

528,300

555,000

554,700

527,700

498,600

743,400

858,400

959,500

967,300

1,159,300

1,102,700

1,124,900

180,200

160,800

138,800

129,600

138,200

145,200

136,900

132,200

136,000

128,300

164,400

> Total Stockholder Equity

139,800
0
87,400
0
58,600
137,600
144,300
169,000
169,500
165,700
158,100
140,300
140,900
131,000
144,100
145,400
120,100
151,000
148,800
144,400
151,800
159,500
169,800
1,514,100
1,516,100
1,481,800
1,461,400
5,506,700
5,454,700
5,492,400
5,439,400
5,886,800
6,664,200
6,205,600
6,376,800
6,314,200
6,448,400
6,319,400
6,325,100
6,009,900
5,804,000
5,588,500
5,199,600
3,314,100
3,214,600
3,141,500
2,955,300
3,046,400
2,935,900
2,934,800
2,761,500
2,446,700
2,069,900
2,384,500
2,665,700
2,550,700
2,675,200
2,506,100
2,739,700

2,739,700

2,506,100

2,675,200

2,550,700

2,665,700

2,384,500

2,069,900

2,446,700

2,761,500

2,934,800

2,935,900

3,046,400

2,955,300

3,141,500

3,214,600

3,314,100

5,199,600

5,588,500

5,804,000

6,009,900

6,325,100

6,319,400

6,448,400

6,314,200

6,376,800

6,205,600

6,664,200

5,886,800

5,439,400

5,492,400

5,454,700

5,506,700

1,461,400

1,481,800

1,516,100

1,514,100

169,800

159,500

151,800

144,400

148,800

151,000

120,100

145,400

144,100

131,000

140,900

140,300

158,100

165,700

169,500

169,000

144,300

137,600

58,600

87,400

139,800

Common Stock

0
0
0
0
-95,900
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
100
100
100
100
200
200
200
200
200
200
200
200
200
200
200
200
200
200
200
200
200
200
200
200
200
200
200
200
200
200
200
200
200
200
200
200

200

100

-95,900

Retained Earnings Total Equity

0
0
0
0
0
0
0
0
-83,500
-78,600
0
0
0
0
-32,000
-18,600
0
0
20,500
0
26,500
0
25,500
3,100
15,400
12,600
26,900
-2,700
-25,900
-36,600
-187,300
-250,500
-192,900
-360,500
-77,200
-49,100
60,000
-23,800
-130,400
-169,300
-179,500
-226,800
-339,600
-2,077,400
-1,996,400
-1,927,100
-1,893,500
-1,747,100
-1,690,900
-1,508,700
-1,822,300
-1,734,300
-1,137,900
-944,800
-626,800
-129,800
0
0
0

-129,800

-626,800

-944,800

-1,137,900

-1,734,300

-1,822,300

-1,508,700

-1,690,900

-1,747,100

-1,893,500

-1,927,100

-1,996,400

-2,077,400

-339,600

-226,800

-179,500

-169,300

-130,400

-23,800

60,000

-49,100

-77,200

-360,500

-192,900

-250,500

-187,300

-36,600

-25,900

-2,700

26,900

12,600

15,400

3,100

25,500

26,500

20,500

-18,600

-32,000

-78,600

-83,500

Accumulated Other Comprehensive Income

0
0
-20,300
0
5,900
1,000
600
-4,400
-4,200
400
-1,300
-1,048,200
6,000
2,200
1,200
100
1,700
300
-500
-800
-900
300
4,800
5,300
3,500
5,200
5,700
43,000
-5,700
-2,700
-38,300
6,500
21,500
-43,500
-29,900
34,400
-37,900
-125,900
94,300
48,900
83,000
140,900
92,500
168,400
21,600
-90,800
-141,800
-158,400
-294,400
-442,100
-230,900
-418,400
-276,400
-6,700
54,700
84,800
130,800
-5,300
85,600

85,600

-5,300

130,800

84,800

54,700

-6,700

-276,400

-418,400

-230,900

-442,100

-294,400

-158,400

-141,800

-90,800

21,600

168,400

92,500

140,900

83,000

48,900

94,300

-125,900

-37,900

34,400

-29,900

-43,500

21,500

6,500

-38,300

-2,700

-5,700

43,000

5,700

5,200

3,500

5,300

4,800

300

-900

-800

-500

300

1,700

100

1,200

2,200

6,000

-1,048,200

-1,300

400

-4,200

-4,400

600

1,000

5,900

-20,300

Capital Surplus

0
0
0
0
0
0
0
0
257,200
243,900
0
0
0
0
184,400
173,400
0
0
151,600
0
149,800
0
164,900
1,532,600
1,524,600
1,492,400
1,457,400
5,321,500
5,371,300
5,377,700
5,506,200
5,986,000
6,666,400
6,434,900
6,302,800
6,141,200
6,233,700
6,270,500
6,154,900
5,925,700
5,687,800
5,457,200
5,221,200
4,991,700
4,949,100
4,911,700
4,839,900
4,361,500
4,330,800
4,299,700
4,268,900
4,125,800
3,834,400
3,767,800
3,702,300
3,146,000
0
0
0

3,146,000

3,702,300

3,767,800

3,834,400

4,125,800

4,268,900

4,299,700

4,330,800

4,361,500

4,839,900

4,911,700

4,949,100

4,991,700

5,221,200

5,457,200

5,687,800

5,925,700

6,154,900

6,270,500

6,233,700

6,141,200

6,302,800

6,434,900

6,666,400

5,986,000

5,506,200

5,377,700

5,371,300

5,321,500

1,457,400

1,492,400

1,524,600

1,532,600

164,900

149,800

151,600

173,400

184,400

243,900

257,200

Treasury Stock

-550,500

-464,700

-432,000

-350,400

-276,300

-204,100

-164,000

-159,500

-150,900

-59,000

-56,900

-56,600

-53,500

-53,100

-49,200

-39,600

-38,200

-36,000

-35,600

-35,300

-34,300

-32,700

-32,200

-31,800

-29,100

-28,900

-28,700

-28,500

-27,500

-27,000

-25,400

-23,600

-22,800

-9,500

-600

-500

Other Stockholders Equity

0
0
193,500
0
128,400
229,600
244,500
267,400
257,200
243,900
229,500
200,800
186,800
172,000
174,900
163,900
122,100
138,100
128,800
125,600
126,200
128,400
139,500
1,505,600
1,497,100
1,463,900
1,428,700
5,292,600
5,306,200
5,345,900
5,474,000
5,933,700
6,632,100
6,399,600
6,267,200
6,105,200
6,195,500
6,230,900
6,115,300
5,876,500
5,638,600
5,404,100
5,167,700
4,935,100
4,892,200
4,852,700
4,689,000
4,202,000
4,171,300
4,135,700
4,064,800
3,849,500
-11,850,300
-16,054,100
3,237,600
-16,430,000
-17,117,100
-17,983,900
-18,509,900

-18,509,900

-17,983,900

-17,117,100

-16,430,000

3,237,600

-16,054,100

-11,850,300

3,849,500

4,064,800

4,135,700

4,171,300

4,202,000

4,689,000

4,852,700

4,892,200

4,935,100

5,167,700

5,404,100

5,638,600

5,876,500

6,115,300

6,230,900

6,195,500

6,105,200

6,267,200

6,399,600

6,632,100

5,933,700

5,474,000

5,345,900

5,306,200

5,292,600

1,428,700

1,463,900

1,497,100

1,505,600

139,500

128,400

126,200

125,600

128,800

138,100

122,100

163,900

174,900

172,000

186,800

200,800

229,500

243,900

257,200

267,400

244,500

229,600

128,400

193,500

Balance Sheet

Currency in USD. All numbers in thousands.

	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	2007-12-31
Accounts Payable	1,574,900	1,448,800	1,402,300	833,800	997,100	1,200,500	1,001,200	691,400	528,100	527,800	667,600	571,200	345,400	254,200	206,400	153,800	-
Accumulated Amortization	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Accumulated Depreciation	0	0	0	0	-5,328,300	-4,292,300	-3,775,400	-2,827,700	-2,232,400	-1,696,500	-1,408,500	-1,170,000	0	0	0	0	-
Accumulated Other Comprehensive Income	85,600	54,700	-230,900	-141,800	92,500	94,300	-29,900	-38,300	5,700	4,800	-500	1,200	-1,300	600	-20,300	36,100	-
Additional Paid In Capital	0	0	0	0	0	0	6,302,800	5,506,200	0	0	0	0	0	0	0	0	-
Capital Lease Obligations	346,300	255,900	61,000	77,000	85,200	0	0	0	0	0	0	0	0	0	0	0	-
Capital Stock	200	200	200	200	279,000	200	0	0	0	0	0	0	0	0	0	0	-
Capital Surpluse	0	3,702,300	4,268,900	4,839,900	5,221,200	6,154,900	6,302,800	5,506,200	1,457,400	164,900	151,600	184,400	0	0	0	0	-
Cash	141,700	219,000	158,500	242,800	331,100	232,100	137,200	73,500	140,200	81,000	66,700	76,300	145,800	188,400	252,400	362,800	-
Cash And Equivalents	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Cash And Short Term Investments	253,600	219,000	158,500	242,800	331,100	232,100	137,200	73,500	140,200	81,000	66,700	76,300	145,800	188,400	252,400	362,800	-
Common Stock	200	200	200	200	200	200	200	200	100	0	0	0	0	0	0	0	-
Common Stock Shares Outstanding	226,000	231,100	228,600	232,200	232,500	224,200	206,900	184,721	53,600	42,100	42,100	41,800	41,400	6,500	42,300	42,300	7,000
Common Stock Total Equity	0	200	200	200	200	200	200	200	100	0	0	0	0	0	0	0	-
Current Deferred Revenue	0	327,700	475,200	434,400	382,800	47,700	185,700	152,100	129,000	111,300	0	0	0	0	305,700	288,600	-
Deferred Long Term Asset Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Deferred Long Term Liab	0	467,800	245,300	195,500	475,000	528,300	498,600	967,300	14,500	138,200	136,900	136,000	0	0	0	0	-
Earning Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Good Will	45,200	45,200	45,200	0	45,200	46,600	256,600	210,000	417,000	0	0	0	0	0	0	0	-
Intangible Assets	2,350,600	2,734,600	1,094,800	1,382,400	1,735,000	1,983,200	2,165,800	1,654,000	1,810,100	591,900	653,400	680,800	0	0	0	0	-
Inventory	371,500	393,800	153,400	181,500	161,500	164,700	204,500	137,700	141,000	168,900	150,700	99,400	92,200	50,400	39,400	68,500	-
Liabilities And Stockholders Equity	22,026,900	19,560,000	15,208,200	15,875,700	18,815,100	16,938,200	14,388,600	12,871,200	13,253,700	6,453,500	6,048,600	5,105,000	3,831,000	3,393,800	3,367,500	3,641,800	-
Long Term Debt	12,089,100	10,509,100	6,420,700	7,368,400	7,414,400	5,632,400	4,703,000	4,606,000	5,801,700	2,885,400	2,989,300	2,475,300	1,567,000	1,534,700	1,593,500	1,976,500	-
Long Term Debt Total	0	10,702,100	6,434,400	7,387,100	7,440,200	5,632,400	4,779,200	4,674,500	5,801,700	2,885,400	2,989,300	2,475,300	0	0	0	0	-
Long Term Investments	146,300	155,800	594,200	763,300	738,700	490,500	221,600	240,800	258,900	15,800	3,100	5,100	0	0	0	0	-
Negative Goodwill	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Net Debt	12,868,700	11,346,000	6,473,200	7,559,100	7,538,500	6,428,200	4,915,800	4,807,500	5,840,600	2,987,200	2,922,600	2,399,000	1,421,200	1,346,300	1,353,600	1,626,200	-
Net Invested Capital	15,403,800	13,974,800	8,582,500	10,378,800	12,705,200	12,739,700	11,213,300	0	0	0	0	0	0	0	0	0	-
Net Receivables	1,471,000	1,408,400	1,331,900	862,800	855,000	865,500	827,600	742,400	515,800	567,300	658,800	514,900	575,700	466,600	404,300	303,900	-
Net Tangible Assets	0	-68,900	1,666,700	1,572,900	3,140,600	4,049,600	3,737,900	3,384,600	-765,700	-422,100	-504,600	-536,700	0	0	0	0	-
Net Working Capital	-566,300	-710,100	-528,700	-319,100	-214,300	-1,379,900	-346,700	-160,800	38,400	55,500	126,800	46,700	125,400	126,300	191,200	390,500	-
Non Current Assets Total	19,832,300	17,203,400	13,438,400	14,415,400	17,156,800	15,519,300	13,118,700	11,864,400	12,333,700	5,570,900	5,151,400	4,371,700	2,964,500	2,643,300	2,622,500	2,784,700	-
Non Current Liabilities Other	6,800	341,200	301,600	309,100	20,100	31,200	410,900	80,700	180,200	63,300	60,700	53,700	0	0	0	0	-
Non Current Liabilities Total	14,656,000	11,511,100	6,981,300	7,891,700	8,220,800	6,422,900	5,799,500	5,788,400	6,121,900	3,086,900	3,186,900	2,665,000	1,759,200	1,733,500	2,058,800	2,003,300	-
Non Currrent Assets Other	140,600	-204,800	81,700	96,100	53,900	-454,600	-434,300	-872,600	-32,800	104,100	92,100	99,600	108,200	130,700	74,400	167,300	-
Noncontrolling Interest In Consolidated Entity	0	2,316,500	3,166,900	3,249,300	3,522,100	1,391,400	595,700	475,800	4,788,800	2,369,700	1,942,500	1,609,300	0	0	0	0	-
Other Assets	0	122,900	89,400	860,000	47,400	70,600	44,700	68,600	102,300	104,200	92,200	99,800	108,200	134,300	74,400	167,300	-
Other Current Assets	98,500	155,500	82,900	87,700	69,700	41,300	62,700	36,400	30,800	20,900	18,900	13,400	52,700	41,500	48,900	121,900	-
Other Current Liab	565,300	455,900	258,200	142,600	110,500	522,700	79,700	49,100	5,200	5,200	102,800	115,400	395,700	370,000	29,200	11,700	-
Other Liab	0	780,400	512,400	458,400	733,400	790,500	1,020,300	1,113,900	284,200	63,300	62,100	58,500	71,700	87,200	106,900	82,500	-
Other Stockholder Equity	-18,509,900	-16,322,400	4,064,800	4,689,000	5,167,700	6,115,300	6,267,200	5,474,000	1,428,700	139,500	128,800	174,900	229,500	244,500	193,500	213,700	-
Preferred Stock Redeemable	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Preferred Stock Total Equity	0	0	0	0	0	0	216,500	190,800	0	0	0	0	0	0	308,400	267,400	-
Property Plant And Equipment Gross	26,265,200	23,913,200	20,596,100	12,173,000	14,548,500	12,928,400	10,430,000	9,691,000	9,702,700	4,824,600	4,349,900	3,538,000	2,819,500	2,509,000	2,548,100	2,617,400	-
Property Plant And Equipment Net	15,806,400	14,214,600	11,667,700	12,173,600	14,548,500	12,928,400	10,430,000	9,691,000	9,702,700	4,824,600	4,349,900	3,538,000	2,819,500	2,509,000	2,548,100	2,617,400	-
Property Plant Equipment	0	14,214,600	11,667,700	12,173,600	14,590,500	12,928,400	10,430,000	9,691,000	9,702,700	4,824,600	4,349,900	3,538,000	2,819,500	2,509,000	2,548,100	2,617,400	-
Retained Earnings	492,000	-626,800	-1,822,300	-1,893,500	-339,600	-130,400	-77,200	-187,300	26,900	25,500	20,500	-32,000	-70,100	-100,800	-85,800	-115,100	-
Retained Earnings Total Equity	0	-626,800	-1,822,300	-1,893,500	-339,600	-130,400	-77,200	-187,300	26,900	25,500	20,500	-32,000	0	0	0	0	-
Short Long Term Debt	575,000	800,000	150,000	356,500	370,000	1,027,900	350,000	275,000	219,300	182,800	0	0	0	0	0	0	-
Short Long Term Debt Total	13,010,400	11,565,000	6,631,700	7,801,900	7,869,600	6,660,300	5,053,000	4,881,000	5,980,800	3,068,200	2,989,300	2,475,300	1,567,000	1,534,700	1,606,000	1,989,000	-
Short Term Debt	620,700	834,300	162,800	368,600	382,200	1,027,900	350,000	275,000	219,300	182,800	8,000	7,400	0	0	12,500	12,500	-
Short Term Investments	111,900	179,900	43,100	85,500	103,300	0	0	0	0	0	0	0	0	0	0	0	-
Temporary Equity Redeemable Noncontrolling Interests	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Total Assets	22,026,900	19,560,000	15,208,200	15,875,700	18,815,100	16,938,200	14,388,600	12,871,200	13,253,700	6,453,500	6,048,600	5,105,000	3,831,000	3,393,800	3,367,500	3,641,800	-
Total Current Assets	2,194,600	2,356,600	1,769,800	1,460,300	1,658,300	1,418,900	1,269,900	1,006,800	920,000	882,600	897,200	733,300	866,500	750,500	745,000	857,100	-
Total Current Liabilities	2,760,900	3,066,700	2,298,500	1,779,400	1,872,600	2,798,800	1,616,600	1,167,600	881,600	827,100	770,400	686,600	741,100	624,200	553,800	466,600	-
Total Liab	17,416,900	14,577,800	9,279,800	9,671,100	10,093,400	9,221,700	7,416,100	6,956,000	7,003,500	3,914,000	3,957,300	3,351,600	2,500,300	2,357,700	2,612,600	2,819,800	-
Total Permanent Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Total Stockholder Equity	2,739,700	2,665,700	2,761,500	2,955,300	5,199,600	6,325,100	6,376,800	5,439,400	1,461,400	169,800	148,800	144,100	158,100	144,300	87,400	134,700	-
Treasury Stock	0	-464,700	-204,100	-150,900	-53,500	-39,600	-35,600	-32,200	-28,700	-25,400	-22,800	-9,500	0	0	-500	-500	-
Warrants	0	0	749,700	301,400	278,800	245,700	216,500	190,800	0	0	0	0	0	0	0	0	-

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2008-12-31
Accounts Payable	1,574,900	1,581,300	1,173,300	1,255,300	1,448,800	1,806,400	1,901,000	1,803,500	1,402,300	1,652,300	1,034,500	947,700	833,800	617,700	607,700	583,400	997,100	976,500	984,500	1,167,300	1,200,500	1,494,200	1,112,000	849,700	1,001,200	823,200	674,900	634,300	691,400	533,100	528,800	420,200	528,100	518,200	509,800	618,500	527,800	678,500	706,700	637,800	667,600	586,000	508,500	524,500	571,200	428,000	292,900	403,900	345,400	298,900	326,400	191,200	254,200	174,000	158,900	0	206,400	0	153,800
Accumulated Amortization	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accumulated Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-5,328,300	-4,899,100	-4,679,900	-4,485,900	-4,292,300	-4,140,600	-4,029,700	-3,927,200	-3,775,400	-3,623,200	-3,086,800	-2,993,600	-2,827,700	-2,674,300	-2,526,900	-2,380,000	-2,232,400	-2,048,200	-1,917,700	-1,791,600	-1,696,500	0	-1,541,800	0	-1,408,500	0	0	-1,227,200	-1,170,000	0	0	0	0	-955,400	910,900	0	0	0	0	0	0	0	0
Accumulated Other Comprehensive Income	85,600	-5,300	130,800	84,800	54,700	-6,700	-276,400	-418,400	-230,900	-442,100	-294,400	-158,400	-141,800	-90,800	21,600	168,400	92,500	140,900	83,000	48,900	94,300	-125,900	-37,900	34,400	-29,900	-43,500	21,500	6,500	-38,300	-2,700	-5,700	43,000	5,700	5,200	3,500	5,300	4,800	300	-900	-800	-500	300	1,700	100	1,200	2,200	6,000	-1,048,200	-1,300	400	-4,200	-4,400	600	1,000	5,900	0	-20,300	0	0
Additional Paid In Capital	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	6,434,900	6,666,400	5,966,400	6,302,800	5,377,700	5,335,300	5,321,500	5,506,200	1,492,400	1,524,600	5,880,700	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	346,300	315,900	302,500	271,100	255,900	116,100	34,200	27,400	61,000	27,300	27,400	28,900	77,000	32,600	35,100	37,700	85,200	38,900	89,700	86,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Stock	200	200	200	200	200	200	200	200	200	200	200	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Surpluse	0	0	0	3,146,000	3,702,300	3,767,800	3,834,400	4,125,800	4,268,900	4,299,700	4,330,800	4,361,500	4,839,900	4,911,700	4,949,100	4,991,700	5,221,200	5,457,200	5,687,800	5,925,700	6,154,900	6,270,500	6,233,700	6,141,200	6,302,800	6,434,900	6,666,400	5,986,000	5,506,200	5,377,700	5,371,300	5,321,500	1,457,400	1,492,400	1,524,600	1,532,600	164,900	0	149,800	0	151,600	0	0	173,400	184,400	0	0	0	0	243,900	257,200	0	0	0	0	0	0	0	0
Cash	141,700	139,500	169,400	211,800	219,000	192,900	154,000	135,900	158,500	228,600	209,000	248,500	242,800	275,000	196,200	375,200	331,100	326,300	226,500	124,900	232,100	203,200	281,600	219,800	137,200	114,100	98,700	80,000	73,500	141,100	170,900	114,500	140,200	102,900	105,700	170,700	81,000	78,800	75,900	94,900	66,700	83,700	82,900	112,700	76,300	120,700	117,500	121,200	145,800	154,100	154,700	147,700	188,400	332,000	249,400	0	252,400	0	362,800
Cash And Equivalents	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash And Short Term Investments	253,600	139,500	169,400	211,800	219,000	192,900	154,000	135,900	158,500	228,600	209,000	248,500	242,800	275,000	196,200	375,200	331,100	326,300	226,500	124,900	232,100	203,200	281,600	219,800	137,200	114,100	98,700	80,000	73,500	141,100	170,900	114,500	140,200	102,900	105,700	170,700	81,000	78,800	75,900	94,900	66,700	83,700	82,900	112,700	76,300	120,700	117,500	121,200	145,800	154,100	154,700	147,700	188,400	332,000	249,400	0	252,400	0	0
Common Stock	200	200	200	200	200	200	200	200	200	200	200	200	200	200	200	200	200	200	200	200	200	200	200	200	200	200	200	200	200	200	200	200	100	100	100	100	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-95,900	0	0	0	0
Common Stock Shares Outstanding	222,611	225,100	226,800	229,300	226,042	230,300	231,700	232,400	276,400	276,400	231,300	274,700	274,700	233,800	233,800	233,000	233,000	232,700	232,400	232,200	232,200	226,500	222,800	218,700	218,700	215,600	205,000	191,800	184,721	173,193	161,600	160,581	56,000	56,100	56,100	45,900	42,100	42,100	42,100	42,100	42,100	42,100	42,100	42,000	41,900	41,900	41,900	41,800	41,800	41,500	41,400	41,300	41,300	42,292	42,300	42,300	3,900	3,900	0
Common Stock Total Equity	0	0	0	200	200	200	200	200	200	200	200	200	200	200	200	200	200	200	200	200	200	200	200	200	200	200	200	200	200	200	200	200	100	100	100	100	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Current Deferred Revenue	0	393,000	510,200	0	327,700	301,400	213,400	0	136,000	391,100	403,900	384,100	152,100	376,600	369,600	290,200	434,200	351,300	313,300	512,900	525,200	594,200	558,100	181,000	479,000	200,800	211,100	232,900	54,500	177,700	168,900	120,800	177,800	204,200	211,100	165,900	100	0	0	0	0	0	0	0	200	0	0	0	0	0	0	0	3,600	0	0	0	305,700	0	0
Deferred Long Term Asset Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Deferred Long Term Liab	0	0	0	360,700	467,800	466,500	445,700	355,200	245,300	229,900	264,600	224,900	195,500	194,000	187,500	234,600	475,000	573,800	515,400	517,000	528,300	555,000	554,700	527,700	498,600	743,400	858,400	959,500	967,300	1,159,300	1,102,700	1,124,900	180,200	160,800	138,800	129,600	138,200	0	145,200	0	136,900	0	0	132,200	136,000	0	0	0	0	128,300	164,400	0	0	0	0	0	0	0	0
Earning Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Good Will	45,200	0	0	45,200	45,200	0	0	0	0	0	0	0	0	0	0	0	45,200	46,600	46,600	46,600	46,600	256,600	256,600	256,600	256,600	256,600	256,600	369,000	210,000	393,000	393,000	393,000	417,000	551,400	557,900	628,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Intangible Assets	2,350,600	2,446,600	2,542,600	2,638,600	2,734,600	2,839,700	1,038,800	1,066,800	1,094,800	1,284,200	1,316,900	1,349,600	1,382,400	1,417,600	1,452,800	1,488,000	1,735,000	1,854,400	1,897,300	1,940,200	1,983,200	2,029,600	2,074,300	2,120,100	2,165,800	2,214,800	2,264,700	2,238,800	1,654,000	1,693,000	1,726,000	1,765,100	1,810,100	1,695,700	1,735,600	1,602,400	591,900	607,300	622,700	638,100	653,400	660,300	667,100	674,100	680,800	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Inventory	371,500	536,200	312,300	156,200	393,800	471,300	202,200	97,500	153,400	316,800	65,600	51,600	181,500	261,700	219,300	100,200	161,500	210,900	205,100	197,900	164,700	177,900	181,400	96,700	204,500	267,400	197,700	75,500	137,700	150,300	111,000	61,700	141,000	151,100	124,800	78,200	168,900	251,200	151,700	88,500	150,700	201,700	138,300	66,000	99,400	84,400	89,700	45,500	92,200	139,400	69,900	5,200	50,400	55,000	49,300	0	39,400	0	68,500
Liabilities And Stockholders Equity	22,026,900	20,189,600	19,461,800	19,025,500	19,560,000	19,389,900	15,334,300	15,295,400	15,208,200	15,972,700	15,411,800	15,648,400	15,875,700	16,052,100	15,965,400	16,026,800	18,815,100	18,918,500	18,318,200	17,569,200	16,938,200	16,569,100	15,596,100	14,753,200	14,388,600	13,998,300	13,918,400	13,653,800	12,871,200	13,055,600	13,000,100	12,949,200	13,253,700	13,418,200	13,352,900	13,625,300	6,453,500	6,491,900	6,328,400	6,055,200	6,048,600	5,725,300	5,407,100	5,148,500	5,105,000	3,881,500	3,780,500	3,698,400	3,831,000	3,790,400	3,501,300	2,209,800	3,393,800	3,442,000	3,321,400	0	3,367,500	0	0
Long Term Debt	12,089,100	12,080,000	11,588,000	11,230,700	10,509,100	10,391,400	7,026,600	6,951,300	6,420,700	6,419,400	6,588,100	7,073,800	7,368,400	7,631,500	7,556,400	7,614,600	7,414,400	7,252,800	6,611,600	7,090,800	5,632,400	5,678,900	5,392,500	5,064,200	4,703,000	4,368,600	3,937,500	4,213,300	4,606,000	4,725,900	4,778,300	4,921,200	5,761,500	5,938,800	5,796,100	5,838,200	2,885,400	3,137,200	3,048,200	2,891,700	2,989,300	2,867,900	2,728,000	2,522,400	2,475,300	1,751,000	1,610,300	1,469,700	1,567,000	1,603,400	1,265,800	1,268,400	1,534,700	1,663,400	1,625,100	0	1,593,500	0	1,976,500
Long Term Debt Total	0	0	0	11,439,600	10,702,100	10,431,300	7,046,200	6,964,900	6,434,400	6,434,100	6,603,800	7,090,700	7,387,100	7,652,200	7,579,600	7,670,000	7,440,200	7,279,700	6,639,000	7,118,500	5,632,400	5,678,900	5,392,500	5,064,200	4,703,000	4,368,600	3,937,500	4,213,300	4,606,000	4,725,900	4,778,300	4,921,200	5,761,500	5,938,800	5,796,100	5,838,200	2,885,400	0	3,048,200	0	2,989,300	0	0	2,522,400	2,475,300	0	0	0	0	1,603,400	1,265,800	0	0	0	0	0	0	0	0
Long Term Investments	146,300	138,300	131,800	170,900	155,800	186,600	157,600	587,100	594,200	688,000	685,200	737,000	763,300	798,300	724,300	736,800	738,700	718,500	676,700	605,900	524,600	449,900	385,600	354,800	244,800	235,800	235,700	248,600	245,900	259,300	263,800	280,100	34,900	45,400	40,300	51,200	15,800	0	1,600	0	3,100	0	0	3,200	5,100	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Negative Goodwill	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Debt	12,868,700	12,816,400	12,269,000	11,994,000	11,346,000	11,064,600	7,306,800	7,112,800	6,473,200	6,558,100	6,766,500	7,124,200	7,559,100	7,639,100	7,645,300	7,545,200	7,538,500	7,211,400	6,773,100	7,359,500	6,428,200	5,765,700	5,290,900	5,144,400	4,915,800	4,782,900	4,338,900	4,668,200	4,807,500	4,809,800	4,832,400	4,956,700	5,840,600	5,971,400	5,814,600	5,865,400	2,987,200	3,058,400	2,972,300	2,796,800	2,922,600	2,784,200	2,645,100	2,409,700	2,399,000	1,630,300	1,492,800	1,348,500	1,421,200	1,449,300	1,111,100	1,120,700	1,346,300	1,331,400	1,375,700	0	1,353,600	0	0
Net Invested Capital	15,403,800	15,146,100	14,811,100	14,485,400	13,974,800	13,525,900	9,496,500	8,918,300	8,582,500	8,944,500	9,134,300	9,640,500	10,378,800	10,716,500	10,724,000	10,909,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Receivables	1,471,000	1,241,100	988,100	1,023,400	1,408,400	1,534,900	1,612,600	1,567,200	1,331,900	1,291,000	901,800	997,100	862,800	609,800	547,200	438,100	855,000	744,000	637,200	752,800	865,500	1,037,200	867,200	745,600	827,600	715,000	552,400	608,300	742,400	625,900	490,100	428,400	515,800	621,000	602,500	675,600	567,300	698,100	682,600	610,400	658,800	498,500	435,800	427,600	514,900	416,200	368,100	462,600	575,700	544,500	495,800	444,600	466,600	350,500	330,700	0	404,300	0	303,900
Net Tangible Assets	0	59,500	132,600	-87,900	-68,900	-455,200	1,031,100	1,379,900	900,900	1,650,600	869,300	1,696,800	1,572,900	1,723,900	1,464,800	1,538,300	3,140,600	3,417,400	3,598,400	3,769,500	4,295,300	4,033,200	4,117,500	3,937,500	3,954,400	3,734,200	4,142,900	3,279,000	3,575,400	3,406,400	3,335,700	3,348,600	-765,700	-765,300	-777,400	-716,800	-422,100	0	-470,900	0	-504,600	0	0	-528,700	-536,700	0	0	0	0	165,700	169,500	0	0	0	0	0	0	0	0
Net Working Capital	-566,300	-542,800	-591,800	-827,800	-710,100	-896,400	-989,300	-1,009,900	-528,700	-875,000	-784,200	-356,200	-319,100	63,500	-94,700	18,300	-214,300	-193,300	-446,100	-860,600	-1,379,900	-830,000	-521,800	-224,000	-346,700	-432,500	-480,700	-612,200	-160,800	27,900	-80,900	22,900	38,400	138,900	116,500	84,700	55,500	250,400	120,300	51,500	126,800	121,900	89,300	-1,900	46,700	140,100	161,700	106,900	125,400	217,200	76,700	98,700	126,300	260,700	125,200	0	191,200	0	0
Non Current Assets Total	19,832,300	18,050,300	17,733,000	17,386,700	17,203,400	16,892,600	13,170,200	13,394,900	13,438,400	13,979,400	14,093,900	14,239,600	14,415,400	14,607,700	14,740,400	14,812,500	17,156,800	17,442,500	17,106,300	16,388,200	15,519,300	14,842,700	14,164,600	13,592,900	13,118,700	12,797,500	13,003,500	12,841,700	11,864,400	12,078,900	12,143,400	12,233,300	12,333,700	12,417,100	12,389,400	12,557,700	5,570,900	5,438,800	5,389,200	5,245,300	5,151,400	4,916,300	4,709,200	4,517,300	4,371,700	3,215,100	3,131,000	3,022,200	2,964,500	2,899,700	2,721,900	2,683,700	2,643,300	2,656,300	2,632,700	0	2,622,500	0	0
Non Current Liabilities Other	6,800	15,900	15,000	346,400	341,200	367,000	288,100	297,900	301,600	290,800	295,100	295,700	309,100	307,000	312,500	296,100	20,100	305,700	18,600	14,900	262,200	270,600	214,800	589,100	597,900	497,800	588,400	688,900	215,100	159,100	164,500	155,800	180,200	76,500	78,800	80,200	63,300	0	73,100	0	60,700	0	0	57,600	53,700	0	0	0	0	52,700	64,400	0	0	0	0	0	0	0	0
Non Current Liabilities Total	14,656,000	13,129,700	12,601,000	12,146,700	11,511,100	11,264,800	7,780,000	7,618,000	6,981,300	6,954,800	7,163,500	7,611,300	7,891,700	8,153,200	8,079,600	8,170,500	8,220,800	8,159,200	7,459,400	7,936,700	6,422,900	6,504,500	6,162,000	6,181,000	5,799,500	5,609,800	5,384,300	5,861,700	5,788,400	6,044,300	6,045,500	6,201,900	6,121,900	6,176,100	6,013,700	6,048,000	3,086,900	3,339,400	3,266,500	3,097,800	3,186,900	3,063,600	2,917,200	2,712,200	2,665,000	1,927,900	1,784,400	1,663,800	1,759,200	1,784,400	1,494,600	1,500,800	1,733,500	1,843,900	1,888,800	0	2,058,800	0	0
Non Currrent Assets Other	140,600	-286,400	-236,900	-154,900	-1,419,000	-101,300	-97,400	7,300	81,700	19,500	-28,900	-27,700	96,100	47,400	11,300	-28,500	53,900	-401,600	-395,800	-415,500	36,500	-453,400	-470,700	-448,400	21,500	-693,300	-815,900	-908,100	63,500	-1,075,900	-1,011,300	-1,031,300	110,100	122,100	121,800	123,300	88,400	85,600	86,400	84,900	92,100	93,400	93,700	92,200	94,700	91,800	95,100	98,500	108,200	282,700	120,700	140,000	134,300	161,400	124,500	0	74,400	0	0
Noncontrolling Interest In Consolidated Entity	0	0	0	1,861,500	2,316,500	2,346,900	2,331,000	2,320,300	3,166,900	3,214,800	3,210,300	3,225,700	3,249,300	3,376,500	3,351,500	3,346,200	3,522,100	3,501,500	3,396,800	1,581,000	1,391,400	1,188,800	1,032,400	873,700	595,700	549,600	474,300	481,000	475,800	570,100	562,300	547,600	4,788,800	4,898,100	4,976,100	5,080,300	2,369,700	0	2,091,200	0	1,942,500	0	0	1,657,800	1,609,300	0	0	0	0	1,166,800	1,134,500	0	0	0	0	0	0	0	0
Other Assets	0	131,900	168,200	12,154,700	122,900	200,100	116,000	95,300	89,400	98,200	95,200	133,600	860,000	178,500	145,900	175,900	47,400	84,300	75,000	56,500	70,600	34,100	48,500	61,200	2,688,700	2,728,700	2,776,700	2,878,300	2,173,400	2,398,700	2,440,900	2,498,700	2,631,000	2,666,900	2,705,100	2,724,700	746,300	745,100	765,400	781,000	801,500	806,900	825,800	824,900	833,700	153,900	166,500	150,200	145,000	282,900	134,500	140,000	134,300	161,400	124,500	0	74,400	0	167,300
Other Current Assets	98,500	138,300	64,800	100,900	155,500	112,400	114,500	77,900	82,900	74,200	64,700	28,400	87,700	36,700	45,100	101,100	69,700	54,700	39,200	29,500	41,300	82,800	47,100	35,000	62,700	85,600	30,400	24,400	36,400	24,600	43,300	28,900	30,800	33,800	38,700	17,100	20,900	20,000	23,000	10,200	18,900	14,200	17,700	6,700	13,400	11,400	17,900	6,400	52,700	52,700	45,200	41,200	41,500	48,200	59,300	0	48,900	0	121,900
Other Current Liab	565,300	105,800	51,100	472,300	455,900	519,400	624,400	823,100	597,400	472,300	292,000	151,200	424,900	124,700	80,500	41,800	59,100	83,500	50,900	43,300	45,200	178,000	103,200	53,600	-213,600	80,900	9,500	22,200	146,700	13,000	14,900	2,000	-43,600	4,300	1,900	600	116,400	124,200	112,200	120,600	102,800	101,100	100,100	108,600	7,400	98,300	194,900	165,400	395,700	374,600	376,300	348,800	34,200	351,000	404,600	0	29,200	0	300,300
Other Liab	0	775,800	748,600	0	780,400	773,800	733,800	653,100	512,400	520,700	559,700	520,600	458,400	501,000	500,000	530,700	733,400	830,300	769,100	770,400	790,500	815,300	768,300	1,112,600	617,500	512,700	593,900	696,800	241,200	176,700	184,200	163,700	182,600	80,500	84,100	82,000	63,300	66,700	75,600	67,300	62,100	59,600	64,200	62,600	58,500	60,600	66,800	76,100	71,700	63,400	108,900	112,800	87,200	95,900	87,300	0	106,900	0	82,500
Other Stockholder Equity	-18,509,900	-17,983,900	-17,117,100	-16,430,000	3,237,600	-16,054,100	-11,850,300	3,849,500	4,064,800	4,135,700	4,171,300	4,202,000	4,689,000	4,852,700	4,892,200	4,935,100	5,167,700	5,404,100	5,638,600	5,876,500	6,115,300	6,230,900	6,195,500	6,105,200	6,267,200	6,399,600	6,632,100	5,933,700	5,474,000	5,345,900	5,306,200	5,292,600	1,428,700	1,463,900	1,497,100	1,505,600	139,500	128,400	126,200	125,600	128,800	138,100	122,100	163,900	174,900	172,000	186,800	200,800	229,500	243,900	257,200	267,400	244,500	229,600	128,400	0	193,500	0	0
Preferred Stock Redeemable	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	238,000	230,600	223,500	216,500	209,800	203,300	196,900	190,800	185,600	179,900	173,600	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	96,800	95,900	0	308,400	0	267,400
Property Plant And Equipment Gross	26,265,200	25,574,200	25,005,600	24,382,400	23,913,200	23,259,200	0	0	0	0	11,996,600	12,060,700	12,173,000	12,292,800	12,417,400	12,411,800	14,548,500	14,696,900	14,368,800	13,703,400	12,928,400	12,080,900	11,421,300	10,841,600	10,430,000	10,068,800	10,226,800	9,963,400	9,691,000	9,680,200	9,702,500	9,734,600	9,702,700	9,750,200	9,684,300	9,833,000	4,824,600	4,693,700	4,623,800	4,464,300	4,349,900	4,109,400	3,883,400	3,692,400	3,538,000	3,061,200	2,964,500	2,872,000	2,819,500	2,616,800	2,587,400	2,543,700	2,509,000	2,494,900	2,508,200	0	2,548,100	0	0
Property Plant And Equipment Net	15,806,400	15,333,500	14,890,400	14,470,000	14,214,600	13,716,400	11,878,300	11,653,000	11,667,700	11,922,400	11,996,600	12,060,700	12,173,600	12,292,800	12,417,400	12,411,800	14,548,500	14,696,900	14,368,800	13,703,400	12,928,400	12,080,900	11,421,300	10,841,600	10,430,000	10,068,800	10,226,800	9,963,400	9,691,000	9,680,200	9,702,500	9,734,600	9,702,700	9,750,200	9,684,300	9,833,000	4,824,600	4,693,700	4,623,800	4,464,300	4,349,900	4,109,400	3,883,400	3,692,400	3,538,000	3,061,200	2,964,500	2,872,000	2,819,500	2,616,800	2,587,400	2,543,700	2,509,000	2,494,900	2,508,200	0	2,548,100	0	0
Property Plant Equipment	0	15,333,500	14,890,400	14,470,000	14,214,600	13,716,400	11,878,300	11,653,000	11,667,700	11,922,400	11,996,600	12,060,700	12,173,600	12,292,800	12,417,400	12,411,800	14,590,500	14,738,700	14,410,700	13,739,000	12,928,400	12,080,900	11,421,300	10,841,600	10,430,000	10,068,800	10,226,800	9,963,400	9,691,000	9,680,200	9,702,500	9,734,600	9,702,700	9,750,200	9,684,300	9,833,000	4,824,600	4,693,700	4,623,800	4,464,300	4,349,900	4,109,400	3,883,400	3,692,400	3,538,000	3,061,200	2,964,500	2,872,000	2,819,500	3,572,200	1,676,500	2,543,700	2,509,000	2,494,900	2,508,200	0	2,548,100	0	2,617,400
Retained Earnings	492,000	305,500	199,500	-129,800	-626,800	-944,800	-1,137,900	-1,734,300	-1,822,300	-1,508,700	-1,690,900	-1,747,100	-1,893,500	-1,927,100	-1,996,400	-2,077,400	-339,600	-226,800	-179,500	-169,300	-130,400	-23,800	60,000	-49,100	-77,200	-360,500	-192,900	-250,500	-187,300	-36,600	-25,900	-2,700	26,900	12,600	15,400	3,100	25,500	30,800	26,500	19,600	20,500	12,600	-3,700	-18,600	-32,000	-43,200	-51,900	-60,500	-70,100	-78,600	-83,500	-94,000	-100,800	-93,000	-75,700	0	-85,800	0	0
Retained Earnings Total Equity	0	0	0	-129,800	-626,800	-944,800	-1,137,900	-1,734,300	-1,822,300	-1,508,700	-1,690,900	-1,747,100	-1,893,500	-1,927,100	-1,996,400	-2,077,400	-339,600	-226,800	-179,500	-169,300	-130,400	-23,800	60,000	-49,100	-77,200	-360,500	-192,900	-250,500	-187,300	-36,600	-25,900	-2,700	26,900	12,600	15,400	3,100	25,500	0	26,500	0	20,500	0	0	-18,600	-32,000	0	0	0	0	-78,600	-83,500	0	0	0	0	0	0	0	0
Short Long Term Debt	575,000	560,000	547,900	704,000	800,000	750,000	400,000	270,000	150,000	340,000	360,000	270,000	356,500	250,000	250,000	268,100	370,000	246,000	298,300	307,600	1,027,900	290,000	180,000	300,000	350,000	528,400	4,514,800	557,100	275,000	13,000	14,900	2,000	219,300	0	0	0	182,800	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short Long Term Debt Total	13,010,400	12,955,900	12,438,400	12,205,800	11,565,000	11,257,500	7,460,800	7,248,700	6,631,700	6,786,700	6,975,500	7,372,700	7,801,900	7,914,100	7,841,500	7,920,400	7,869,600	7,537,700	6,999,600	7,484,400	6,660,300	5,968,900	5,572,500	5,364,200	5,053,000	4,897,000	4,437,600	4,748,200	4,881,000	4,950,900	5,003,300	5,071,200	5,980,800	6,074,300	5,920,300	6,036,100	3,068,200	3,137,200	3,048,200	2,891,700	2,989,300	2,867,900	2,728,000	2,522,400	2,475,300	1,751,000	1,610,300	1,469,700	1,567,000	1,603,400	1,265,800	1,268,400	1,534,700	1,663,400	1,625,100	0	1,606,000	0	0
Short Term Debt	620,700	602,000	586,000	739,000	834,300	766,500	414,600	283,800	162,800	352,600	371,700	282,000	368,600	261,900	261,900	280,600	382,200	258,000	309,300	318,100	1,027,900	290,000	180,000	300,000	350,000	528,400	500,100	534,900	275,000	225,000	225,000	150,000	219,300	135,500	124,200	197,900	182,800	0	12,500	0	8,000	0	0	8,200	107,800	0	0	0	0	34,700	56,900	0	332,200	0	0	0	12,500	0	0
Short Term Investments	111,900	84,200	0	0	179,900	185,800	80,800	0	0	0	685,000	695,000	714,000	718,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Temporary Equity Redeemable Noncontrolling Interests	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	5,880,700	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Assets	22,026,900	20,189,600	19,461,800	19,025,500	19,560,000	19,389,900	15,334,300	15,295,400	15,208,200	15,972,700	15,411,800	15,648,400	15,875,700	16,052,100	15,965,400	16,026,800	18,815,100	18,918,500	18,318,200	17,569,200	16,938,200	16,569,100	15,596,100	14,753,200	14,388,600	13,998,300	13,918,400	13,653,800	12,871,200	13,055,600	13,000,100	12,949,200	13,253,700	13,418,200	13,352,900	13,625,300	6,453,500	6,491,900	6,328,400	6,055,200	6,048,600	5,725,300	5,407,100	5,148,500	5,105,000	3,881,500	3,780,500	3,698,400	3,831,000	3,790,400	3,501,300	3,322,400	3,393,800	3,442,000	3,321,400	0	3,367,500	0	3,641,800
Total Current Assets	2,194,600	2,139,300	1,728,800	1,638,800	2,356,600	2,497,300	2,164,100	1,900,500	1,769,800	1,993,300	1,317,900	1,408,800	1,460,300	1,444,400	1,225,000	1,214,300	1,658,300	1,476,000	1,211,900	1,181,000	1,418,900	1,726,400	1,431,500	1,160,300	1,269,900	1,200,800	914,900	812,100	1,006,800	976,700	856,700	715,900	920,000	1,001,100	963,500	1,067,600	882,600	1,053,100	939,200	809,900	897,200	809,000	697,900	631,200	733,300	666,400	649,500	676,200	866,500	890,700	779,400	638,700	750,500	785,700	688,700	0	745,000	0	0
Total Current Liabilities	2,760,900	2,682,100	2,320,600	2,466,600	3,066,700	3,393,700	3,153,400	2,910,400	2,298,500	2,868,300	2,102,100	1,765,000	1,779,400	1,380,900	1,319,700	1,196,000	1,872,600	1,669,300	1,658,000	2,041,600	2,798,800	2,556,400	1,953,300	1,384,300	1,616,600	1,633,300	1,395,600	1,424,300	1,167,600	948,800	937,600	693,000	881,600	862,200	847,000	982,900	827,100	802,700	818,900	758,400	770,400	687,100	608,600	633,100	686,600	526,300	487,800	569,300	741,100	673,500	702,700	540,000	624,200	525,000	563,500	0	553,800	0	466,600
Total Liab	17,416,900	15,811,800	14,921,600	14,613,300	14,577,800	14,658,500	10,933,400	10,528,400	9,279,800	9,823,100	9,265,600	9,376,300	9,671,100	9,534,100	9,399,300	9,366,500	10,093,400	9,828,500	9,117,400	9,978,300	9,221,700	9,060,900	8,115,300	7,565,300	7,416,100	7,243,100	6,779,900	7,286,000	6,956,000	6,993,100	6,983,100	6,894,900	7,003,500	7,038,300	6,860,700	7,030,900	3,914,000	4,142,100	4,085,400	3,856,200	3,957,300	3,750,700	3,525,800	3,345,300	3,351,600	2,454,200	2,272,200	2,233,100	2,500,300	2,457,900	2,197,300	2,040,800	2,357,700	2,368,900	2,452,300	0	2,612,600	0	2,552,400
Total Permanent Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	7,270,200	7,250,200	6,964,400	0	6,545,400	6,935,200	6,170,900	0	5,876,900	5,837,100	5,880,700	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Stockholder Equity	2,739,700	2,506,100	2,675,200	2,550,700	2,665,700	2,384,500	2,069,900	2,446,700	2,761,500	2,934,800	2,935,900	3,046,400	2,955,300	3,141,500	3,214,600	3,314,100	5,199,600	5,588,500	5,804,000	6,009,900	6,325,100	6,319,400	6,448,400	6,314,200	6,376,800	6,205,600	6,664,200	5,886,800	5,439,400	5,492,400	5,454,700	5,506,700	1,461,400	1,481,800	1,516,100	1,514,100	169,800	159,500	151,800	144,400	148,800	151,000	120,100	145,400	144,100	131,000	140,900	140,300	158,100	165,700	169,500	169,000	144,300	137,600	58,600	0	87,400	0	139,800
Treasury Stock	0	0	0	-550,500	-464,700	-432,000	-350,400	-276,300	-204,100	-164,000	-159,500	-159,500	-150,900	-59,000	-56,900	-56,600	-53,500	-53,100	-49,200	-49,200	-39,600	-39,600	-38,200	-36,000	-35,600	-35,300	-34,300	-32,700	-32,200	-31,800	-29,100	-28,900	-28,700	-28,500	-27,500	-27,000	-25,400	-25,400	-23,600	-23,600	-22,800	-9,500	-9,500	-9,500	-9,500	0	0	0	0	0	0	0	0	-600	-600	0	-500	0	-500
Warrants	0	0	0	0	0	0	0	749,700	749,700	749,700	749,700	749,700	301,400	306,500	297,000	287,800	278,800	270,100	261,700	253,600	245,700	238,000	230,600	223,500	216,500	209,800	203,300	196,900	190,800	185,600	179,900	173,600	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

Cash Flow

Currency in USD. All numbers in thousands.

	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
Begin Period Cash Flow	219,000	158,500	242,800	331,100	232,100	137,200	73,500	140,200	81,000	66,700	76,300	145,800	188,400	252,400	362,800	177,900
Capital Expenditures	2,385,400	1,334,300	505,100	951,600	2,877,800	3,114,800	1,297,500	562,100	817,200	762,200	1,013,600	582,700	331,900	139,300	99,400	132,300
Cash And Cash Equivalents Changes	0	60,500	-84,300	-88,300	99,000	94,900	63,700	-66,700	59,200	14,300	-9,600	-69,500	0	0	0	0
Cash Flows Other Operating	0	-373,200	575,600	161,300	-72,100	-72,100	3,300	-15,200	-20,500	423,000	201,300	159,300	0	0	0	0
Change In Cash	-77,300	60,500	-84,300	-88,300	99,000	94,900	63,700	-66,700	59,200	14,300	-9,600	-69,500	-42,600	-64,000	-110,400	184,900
Change In Working Capital	139,200	-364,000	205,800	59,300	11,100	37,100	-30,100	-75,900	89,900	-50,700	-144,500	-9,400	-39,800	-146,200	1,400	152,900
Change Receivables	0	219,700	-392,400	-25,600	-24,700	-6,200	-57,100	-235,700	235,900	90,200	-143,600	98,000	0	0	0	0
Change To Account Receivables	143,100	1,230,000	-392,400	-25,600	-24,700	-6,200	-57,100	-235,700	235,900	90,200	-143,600	98,000	0	-119,200	-140,100	600,700
Change To Inventory	36,000	-236,200	40,600	-27,700	-45,000	-13,900	-73,200	-15,900	41,400	-36,200	-84,500	6,000	-41,100	-11,400	19,300	72,800
Change To Liabilities	0	35,500	5,900	6,900	80,800	57,200	100,200	176,100	-186,200	-104,700	83,600	-113,400	0	0	0	0
Change To Netincome	0	92,300	766,200	2,074,800	350,900	288,200	63,000	325,100	235,500	22,200	34,100	58,500	0	0	0	0
Change To Operating Activities	0	35,500	5,900	6,900	45,800	25,600	25,600	0	0	0	0	0	0	0	0	0
Depreciation	1,335,500	1,096,000	870,600	865,100	971,600	815,900	809,500	757,700	677,100	351,000	271,900	197,600	181,000	174,700	168,800	160,900
Dividends Paid	427,300	379,700	187,500	395,900	964,800	919,600	854,500	716,200	179,000	113,000	362,200	273,700	38,200	448,100	0	531,200
End Period Cash Flow	141,700	219,000	158,500	242,800	331,100	232,100	137,200	73,500	140,200	81,000	66,700	76,300	145,800	188,400	252,400	362,800
Exchange Rate Changes	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Free Cash Flow	826,200	1,046,500	1,797,800	792,900	-1,488,000	-1,970,800	-358,000	275,300	217,500	-400	-630,900	-154,500	47,400	69,200	236,400	258,400
Investments	-2,175,900	872,300	19,600	10,500	-193,000	-276,500	-1,892,700	-558,600	-10,500	5,700	0	-16,800	0	0	0	0
Issuance Of Capital Stock	0	0	0	0	0	689,000	0	0	0	0	0	0	0	0	0	0
Net Borrowings	0	-25,833,100	-1,176,600	-20,500	1,105,100	1,585,300	156,900	-1,104,800	1,323,900	34,000	481,200	888,200	0	0	0	0
Net Income	828,200	1,531,400	422,100	-1,325,000	41,200	60,400	104,200	-159,100	-151,400	423,000	201,300	159,300	215,400	63,300	79,100	134,400
Other Cashflows From Financing Activities	-222,100	40,558,400	-493,800	-407,600	8,161,000	722,400	57,500	-92,300	4,841,000	2,514,400	2,662,600	2,670,200	2,207,600	310,300	765,300	894,900
Other Cashflows From Investing Activities	0	-3,687,700	12,300	203,000	-1,100	244,400	-17,800	-1,000	-1,582,400	5,100	-12,700	-991,200	300	4,700	40,100	50,500
Other Non Cash Items	496,700	-65,200	733,100	2,311,600	393,500	168,800	406,300	322,800	369,500	28,600	35,400	54,200	-4,800	70,200	63,100	-77,000
Sale Purchase Of Stock	-429,500	-1,225,800	-53,200	-268,200	555,300	3,777,600	4,114,200	4,483,900	-3,300	-2,600	-13,300	-9,500	0	-100	0	-500
Stock Based Compensation	62,400	57,500	59,200	66,200	60,300	56,300	42,300	29,700	25,000	14,300	13,200	17,500	15,200	13,400	4,300	1,500
Total Cash From Financing Activities	221,100	1,829,400	-1,914,000	-1,094,700	1,781,100	2,097,800	1,016,900	-345,500	1,424,100	3,900	634,000	1,093,000	87,400	-137,900	-386,900	900
Total Cash From Operating Activities	3,211,600	2,380,800	2,302,900	1,744,500	1,389,800	1,144,000	939,500	837,400	1,034,700	761,800	382,700	428,200	379,300	208,500	335,800	390,700
Total Cashflows From Investing Activities	0	-4,149,700	-473,200	-738,100	-3,071,900	-3,146,900	-1,892,700	-558,600	-2,399,600	-751,400	-1,026,300	-1,590,700	0	0	0	0

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2008-12-31
Begin Period Cash Flow	139,500	169,400	211,800	219,000	192,900	154,000	135,900	158,500	228,600	209,000	248,500	242,800	275,000	196,200	375,200	331,100	326,300	226,500	124,900	232,100	203,200	281,600	219,800	137,200	114,100	98,700	80,000	73,500	141,100	170,900	114,500	140,200	102,900	105,700	170,700	81,000	78,800	75,900	94,900	66,700	83,700	82,900	112,700	76,300	120,700	117,500	121,200	145,800	154,100	154,700	147,700	188,400	350,000	249,400	305,600	252,400	187,900	217,800	-	0
Capital Expenditures	720,000	591,700	598,000	475,700	518,900	395,900	215,100	204,400	183,500	122,700	102,700	96,200	148,500	187,200	274,200	341,700	443,700	683,100	807,700	943,300	1,081,200	871,100	566,600	595,900	430,900	339,000	383,400	144,200	137,100	117,300	117,600	190,100	191,900	189,100	248,600	187,600	190,500	152,100	221,900	197,700	305,400	263,700	241,600	202,900	217,600	126,400	135,700	103,000	117,600	76,100	81,200	57,000	55,100	37,300	27,400	19,500	24,500	20,000	0	132,300
Cash And Cash Equivalents Changes	0	0	0	-7,200	26,100	38,900	18,100	-22,600	-70,100	19,600	-39,500	5,700	-32,200	78,800	-179,000	44,100	4,800	99,800	101,600	-107,200	28,900	-78,400	61,800	82,600	0	15,400	18,700	6,500	0	-29,800	56,400	-25,700	0	-2,800	-65,000	89,700	0	0	0	0	0	0	0	36,400	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Cash Flows Other Operating	0	0	0	-291,800	-521,700	-274,100	59,300	363,300	-268,500	673,300	46,100	124,700	305,800	-144,500	0	0	-72,100	0	0	0	-5,800	9,100	-2,900	-72,500	0	1,600	4,400	2,500	0	-4,200	7,200	-43,200	0	34,300	25,100	34,600	0	0	0	0	0	0	0	33,800	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Change In Cash	2,200	-29,900	-42,400	-7,200	26,100	38,900	18,100	-22,600	-70,100	19,600	-39,500	5,700	-32,200	78,800	-179,000	44,100	4,800	99,800	101,600	-107,200	28,900	-78,400	61,800	82,600	23,100	15,400	18,700	6,500	-67,600	-29,800	56,400	-25,700	37,300	-2,800	-65,000	89,700	2,200	2,900	-19,000	28,200	-17,000	800	-29,800	36,400	-44,400	3,200	-3,700	-24,600	-8,300	-600	7,000	-40,700	-161,600	100,600	-56,200	53,200	64,500	-29,900	-	0
Change In Working Capital	118,500	-314,500	-3,500	338,700	-230,100	-246,700	-26,400	139,200	-92,800	-29,300	154,500	173,400	194,800	-70,500	-67,600	2,600	-5,600	19,100	-56,600	54,200	-51,200	73,300	-60,400	75,400	89,500	-162,700	-54,900	98,000	-43,100	-94,100	20,200	41,100	77,000	-37,700	-54,500	105,100	28,400	-115,700	-89,100	125,700	-48,400	-48,600	-116,400	68,900	29,000	-10,100	-37,900	9,600	82,100	-133,000	29,600	-18,500	-68,100	-64,200	-29,700	15,800	14,100	19,600	-	0
Change Receivables	0	0	0	440,800	140,300	330,300	-34,700	-216,200	-32,600	-390,900	73,000	-41,900	-194,300	-72,600	-141,700	383,000	-123,100	-84,000	104,200	78,200	219,100	-216,500	-113,300	104,500	0	-231,200	57,800	241,200	0	-113,700	-75,100	94,700	0	-10,100	37,800	93,900	0	0	0	0	0	0	0	95,100	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Change To Account Receivables	239,100	-315,500	71,900	-96,000	1,230,000	330,300	-34,700	250,000	-32,600	-390,900	73,000	-41,900	-194,300	-72,600	-141,700	383,000	-123,100	-84,000	104,200	78,200	219,100	-216,500	-113,300	104,500	-124,900	-231,200	57,800	241,200	-141,600	-113,700	-75,100	94,700	114,300	-10,100	37,800	93,900	131,500	-9,600	-89,000	57,300	-163,300	-57,900	-17,500	95,100	0	0	0	0	0	0	0	32,400	-111,400	-42,100	-45,600	79,900	-106,300	2,700	-	0
Change To Inventory	170,100	-223,300	-148,300	237,500	84,300	-269,300	-107,100	55,900	168,600	-254,200	-13,700	139,900	88,100	-59,100	-119,000	62,300	44,700	-13,000	-16,100	-60,600	2,700	-25,900	-100,900	110,200	63,200	-67,800	-122,300	53,700	11,900	-40,200	-49,900	62,300	10,200	-26,700	-44,500	102,400	81,600	-99,700	-78,700	60,600	25,800	-60,600	-83,400	33,700	1,100	5,200	-44,600	44,300	45,800	-69,500	-64,700	47,300	4,600	-5,600	-24,600	14,200	1,400	-7,200	-	72,800
Change To Liabilities	0	350,500	-27,200	-46,900	73,100	-30,900	57,300	-64,000	58,600	-57,200	44,900	-45,800	37,300	219,200	193,100	-442,700	72,800	116,100	-144,700	36,600	-273,000	315,700	153,800	-139,300	100,200	136,300	9,600	-196,900	176,100	59,800	145,200	-115,900	-186,200	-900	-47,800	-91,200	-104,700	0	0	0	0	0	0	-59,900	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Change To Netincome	0	169,100	17,400	-54,600	31,200	132,900	-299,800	228,000	604,000	9,800	200,200	55,200	44,500	34,100	-31,500	2,027,700	235,100	67,300	11,400	37,100	162,200	90,100	-75,000	110,900	102,200	171,700	-81,500	133,200	337,900	15,600	12,100	45,200	235,500	43,600	52,700	28,800	357,900	0	0	0	0	0	0	2,100	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Change To Operating Activities	0	-126,200	100,100	100,100	73,100	-30,900	57,300	-64,000	58,600	-57,200	50,300	-45,800	37,300	-49,600	19,200	19,200	19,200	19,200	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Depreciation	342,800	331,300	332,100	324,800	329,800	287,200	269,900	209,100	219,700	222,900	211,800	216,200	217,800	203,700	204,500	239,100	252,700	244,300	237,200	237,400	208,800	206,400	202,600	198,100	206,700	208,200	203,500	191,100	194,100	184,000	186,100	193,500	228,800	165,800	162,900	119,600	97,900	87,700	85,800	79,600	73,200	69,000	65,700	64,000	53,300	48,600	48,300	47,400	46,700	45,600	45,300	43,400	37,300	50,700	43,900	42,800	40,200	45,000	-	0
Dividends Paid	112,500	115,200	114,300	85,300	80,900	81,000	109,800	108,000	47,300	47,500	44,700	48,000	50,800	53,800	49,400	241,900	238,100	242,400	237,400	246,900	234,600	234,100	225,500	225,400	222,100	223,800	206,100	202,500	190,500	179,600	153,000	193,100	51,000	49,100	46,500	32,400	228,500	120,100	114,200	107,200	105,300	91,400	84,800	80,700	69,500	70,300	65,800	68,100	12,600	11,900	11,100	2,600	28,200	419,900	419,900	0	0	0	-	0
End Period Cash Flow	141,700	139,500	169,400	211,800	219,000	192,900	154,000	135,900	158,500	228,600	209,000	248,500	242,800	275,000	196,200	375,200	331,100	326,300	226,500	124,900	232,100	203,200	281,600	219,800	137,200	114,100	98,700	80,000	73,500	141,100	170,900	114,500	140,200	102,900	105,700	170,700	81,000	78,800	75,900	94,900	66,700	83,700	82,900	112,700	76,300	120,700	117,500	121,200	145,800	154,100	154,700	147,700	188,400	350,000	249,400	305,600	252,400	187,900	217,800	0
Exchange Rate Changes	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Free Cash Flow	237,700	-184,400	78,800	694,100	18,600	63,700	420,400	543,800	320,600	372,500	521,100	583,600	500,300	169,600	12,100	110,900	27,100	-316,400	-563,000	-635,700	-851,800	-500,200	-377,300	-241,500	-23,300	-271,600	-237,600	174,500	139,600	-14,100	98,600	51,200	147,300	22,200	-57,000	105,000	52,200	-57,500	-116,100	121,000	-180,800	-168,300	-252,900	-28,900	-79,600	-40,200	-70,500	35,800	97,100	-133,000	70,200	13,100	49,400	-59,800	23,100	56,500	108,400	71,600	-	258,400
Investments	-727,000	-599,200	-593,800	-5,000	4,300	-1,300	862,900	6,400	5,700	2,600	5,400	5,900	2,000	3,000	4,100	1,400	-20,700	22,400	-77,300	-117,400	-55,000	-80,900	-54,100	-86,500	-9,300	-7,900	3,100	-500	-300	-5,100	500	3,400	-10,500	-5,600	-500	600	5,700	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Issuance Of Capital Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Net Borrowings	0	491,400	187,600	-13,903,500	-21,754,100	-4,872,400	170,000	623,400	-190,000	-190,000	-402,000	-397,100	-159,900	59,700	-56,300	136,000	283,700	587,700	-501,700	735,400	688,600	393,400	193,700	309,600	156,900	457,900	-329,800	-147,700	-1,104,800	-56,800	124,200	-552,800	1,323,900	162,400	-121,200	987,200	66,300	0	0	0	0	0	0	55,300	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Net Income	277,700	279,000	387,500	555,200	395,900	279,300	687,600	168,600	-249,200	288,000	155,400	227,900	146,000	172,200	177,100	-1,820,300	-15,100	32,100	48,900	-24,700	-88,200	-11,400	121,100	38,900	299,200	-155,100	70,600	-110,500	-140,700	-3,200	-14,500	-700	-232,000	20,900	25,100	34,600	92,300	120,500	103,300	106,900	95,700	49,400	22,400	33,800	27,600	19,100	43,400	69,200	74,800	36,500	63,300	40,800	24,300	-4,300	7,400	35,900	48,400	10,500	13,500	37,300
Other Cashflows From Financing Activities	32,611,400	-60,600	-49,600	15,100,800	22,456,000	13,924,800	3,147,300	1,030,300	-100,200	58,800	474,300	1,270,100	451,600	1,362,000	459,600	822,400	1,577,200	935,500	2,849,500	2,798,800	185,700	145,200	128,300	263,200	24,700	605,700	-23,800	-8,500	-61,900	1,400	3,100	-34,900	386,400	-140,600	-131,400	3,448,700	1,529,800	-1,000	-500	492,300	1,011,900	644,400	-10,600	-1,100	1,554,700	395,000	179,900	-4,400	306,800	763,700	295,200	-17,800	15,900	736,200	758,500	653,000	145,800	779,400	-	0
Other Cashflows From Investing Activities	0	-300	-300	-100	12,500	-3,498,800	-202,400	1,000	4,200	6,400	700	300	62,400	2,300	-100	138,400	12,500	3,100	-8,200	-8,500	182,100	-3,900	61,100	5,100	-15,100	-2,000	-102,800	-480,800	3,800	5,600	-100	-1,300	2,500	-1,700	30,100	-1,605,800	5,100	6,300	2,300	1,800	0	0	0	-4,600	4,500	1,600	900	800	300	300	0	0	4,700	2,400	1,900	0	40,100	0	-	50,500
Other Non Cash Items	104,500	42,700	-147,300	-169,900	17,500	114,700	-394,100	196,700	621,200	-2,300	81,400	32,800	36,400	3,100	-20,500	2,292,600	305,400	58,700	2,300	27,100	176,600	92,700	-120,400	19,900	61,700	264,900	23,800	55,900	292,800	18,200	15,500	-3,700	276,700	32,300	39,200	21,300	20,800	600	3,500	3,700	2,500	16,100	13,500	3,300	19,000	22,700	5,800	6,700	5,900	-19,600	8,100	4,100	82,100	-27,100	10,900	-20,900	11,100	7,300	-	0
Sale Purchase Of Stock	-41,000	-153,600	-149,100	-85,800	-32,700	-81,600	-1,039,300	-72,200	-50,600	9,100	2,100	2,000	-89,200	7,600	15,100	10,600	36,500	-1,504,400	1,826,400	196,800	1,066,600	801,400	1,270,000	639,600	1,429,700	77,300	1,074,400	1,069,500	1,874,600	427,200	650,500	537,500	-3,300	921,000	358,400	-1,500	-1,800	387,500	563,300	-800	-13,300	0	1,041,300	501,400	-9,500	0	0	545,000	0	0	0	0	1,094,100	0	0	-100	0	0	-	0
Stock Based Compensation	16,700	15,700	15,000	15,000	15,700	14,500	13,800	13,500	14,600	14,700	14,900	15,000	16,700	16,400	16,100	17,000	11,300	16,300	16,200	16,500	15,600	13,800	13,700	13,200	10,600	10,200	10,700	10,800	7,500	7,000	7,200	8,000	6,000	6,600	6,500	5,900	3,500	3,300	3,300	4,200	3,200	3,200	3,000	3,800	4,500	4,200	4,300	4,500	3,800	3,700	4,400	0	13,400	13,000	12,000	200	4,800	10,000	-	0
Total Cash From Financing Activities	-204,100	162,000	-125,400	-696,200	-9,300	3,475,300	-1,062,800	-573,800	-400,600	-361,900	-567,400	-584,100	-596,900	-96,100	-195,100	-206,600	-14,100	390,700	750,100	654,400	753,600	506,600	432,100	405,500	50,700	296,900	356,000	313,300	-207,700	-16,200	-42,600	-79,000	-110,500	-17,700	-37,600	1,589,900	-50,300	55,800	95,200	-96,800	147,100	188,000	229,000	69,900	1,004,500	69,700	74,100	-55,300	-103,800	273,800	-62,200	-20,400	-213,300	159,900	-79,300	-5,200	-59,800	-120,900	-	900
Total Cash From Operating Activities	957,700	407,300	676,800	1,169,800	537,500	459,600	635,500	748,200	504,100	495,200	623,800	679,800	648,800	356,800	286,300	452,600	470,800	366,700	244,700	307,600	229,400	370,900	189,300	354,400	407,600	67,400	145,800	318,700	276,700	103,200	216,200	241,300	339,200	211,300	191,600	292,600	242,700	94,600	105,800	318,700	124,600	95,400	-11,300	174,000	138,000	86,200	65,200	138,800	214,700	-56,900	151,400	70,100	104,500	-22,500	50,500	76,000	132,900	91,600	-	390,700
Total Cashflows From Investing Activities	0	-599,200	-593,800	-480,800	-502,100	-3,896,000	445,400	-197,000	-173,600	-113,700	-95,900	-90,000	-84,100	-181,900	-270,200	-201,900	-451,900	-657,600	-893,200	-1,069,200	-954,100	-955,900	-559,600	-677,300	-1,892,700	-348,900	-483,100	-625,500	-558,600	-116,800	-117,200	-188,000	-2,399,600	-196,400	-219,000	-1,792,800	-751,400	0	0	0	0	0	0	-207,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0

Income Statement

Currency in USD. All numbers in thousands.

	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
Cost Of Revenue	13,083,900	17,978,100	14,600,100	5,970,200	7,090,100	9,054,100	7,715,600	5,680,600	5,550,100	7,397,900	5,650,400	5,076,600	6,039,000	4,687,700	3,791,100	7,218,500
Depreciation And Amortization	1,335,500	1,040,600	870,600	865,100	971,600	815,900	809,500	757,700	677,100	351,000	271,900	197,600	181,000	174,700	168,800	160,900
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Ebit	2,186,700	1,729,000	1,289,500	3,809,600	618,700	648,500	565,800	-287,900	62,200	301,900	111,000	151,500	359,900	212,300	223,700	248,500
Ebitda	3,522,200	2,769,600	2,160,100	4,674,700	1,590,300	1,464,400	1,375,300	469,800	739,300	652,900	382,900	349,100	540,900	387,000	392,500	409,400
Effect Of Accounting Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Extraordinary Items	0	0	0	0	0	0	269,500	0	0	0	0	0	0	0	0	0
Gross Profit	2,535,300	2,951,700	2,349,700	2,290,100	1,581,000	1,429,900	1,099,300	1,010,300	1,108,500	1,218,600	905,600	809,100	955,500	781,500	744,900	780,400
Income Before Tax	1,942,500	1,663,200	436,900	-1,573,100	-46,700	65,900	-292,900	-259,700	-111,800	491,000	249,500	196,200	242,000	85,800	99,800	153,700
Income Tax Expense	363,200	131,800	14,800	-248,100	-87,900	5,500	-397,100	-100,600	39,600	68,000	48,200	36,900	26,600	22,500	20,700	19,300
Interest Expense	728,900	446,100	387,900	391,300	337,800	185,800	233,700	254,200	231,900	147,100	134,100	120,800	111,700	110,900	132,100	141,200
Interest Income	0	0	0	0	298,800	178,500	250,700	268,500	234,400	0	0	0	0	0	0	0
Minority Interest	-253,300	335,900	350,900	228,900	3,522,100	1,391,400	595,700	475,800	4,788,800	320,700	136,200	121,200	184,700	78,300	49,800	97,100
Net Income	828,200	896,800	422,100	-1,325,000	41,200	1,600	54,000	-187,300	58,300	102,300	65,100	38,100	30,700	-15,000	29,300	37,300
Net Income Applicable To Common Shares	0	896,800	-16,100	-1,684,800	-334,000	-119,300	-63,400	-278,100	58,300	102,300	65,100	38,100	30,700	0	11,500	20,500
Net Income From Continuing Ops	1,617,600	1,531,400	422,100	-1,325,000	41,200	60,400	104,200	-159,100	-151,400	423,000	201,300	159,300	0	0	0	0
Net Interest Income	-655,400	-495,700	-404,500	-345,700	-337,800	-185,800	-233,700	-254,200	0	0	0	0	0	0	0	0
Non Operating Income Net Other	0	429,900	-23,300	76,000	108,300	7,400	-19,600	-13,100	-29,100	10,000	30,100	-19,300	0	0	0	0
Non Recurring	0	0	452,300	2,442,800	243,200	210,000	378,000	207,000	322,600	290,000	0	0	0	0	0	0
Operating Income	2,186,700	1,729,000	1,289,500	3,809,600	618,700	237,500	-122,400	55,800	159,300	640,500	368,200	336,300	351,100	196,100	217,200	234,500
Other Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Operating Expenses	13,432,500	19,200,600	15,620,400	7,007,200	8,235,000	10,036,600	8,543,400	6,428,100	6,209,300	7,976,000	6,187,800	5,549,400	6,643,400	5,273,100	4,318,800	7,764,400
Preferred Stock And Other Adjustments	0	30,000	87,300	91,700	91,700	91,700	91,700	72,600	0	0	0	0	0	0	0	0
Reconciled Depreciation	1,318,000	1,096,000	870,600	865,100	971,600	815,900	809,500	0	0	0	0	0	0	0	0	0
Research Development	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling And Marketing Expenses	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling General Administrative	348,700	309,700	273,200	254,600	280,700	256,900	203,400	187,200	161,700	148,000	151,500	139,800	136,100	144,400	120,400	96,400
Tax Provision	270,500	131,800	14,800	-248,100	-87,900	5,500	-397,100	-100,600	39,600	0	0	0	0	0	0	0
Total Operating Expenses	348,600	1,222,500	1,020,300	1,037,000	1,144,900	982,500	827,800	747,500	659,200	578,100	537,400	472,800	604,400	585,400	527,700	545,900
Total Other Income Expense Net	-244,200	-65,800	-852,600	-5,382,700	-665,400	-193,700	-313,900	-220,100	-329,200	-2,400	15,400	-19,300	2,600	600	14,700	60,400
Total Revenue	15,619,200	20,929,800	16,949,800	8,260,300	8,671,100	10,484,000	8,814,900	6,690,900	6,658,600	8,616,500	6,556,000	5,885,700	6,994,500	5,469,200	4,536,000	7,998,900

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2008-12-31
Cost Of Revenue	3,509,400	3,021,300	2,401,000	3,343,800	3,654,100	4,593,500	5,317,200	4,413,200	4,789,400	3,837,500	2,920,900	3,052,500	1,976,100	1,506,900	1,065,100	1,427,400	1,955,500	1,572,400	1,598,800	1,963,400	2,217,300	2,589,800	2,107,900	2,139,100	2,375,000	1,871,400	1,624,000	1,845,300	1,738,100	1,406,700	1,331,300	1,204,500	1,424,100	1,338,200	1,400,900	1,387,900	1,732,600	1,968,100	1,763,800	2,052,900	1,878,000	1,328,800	1,242,100	1,201,500	1,320,500	1,153,000	1,074,600	1,384,200	1,674,500	1,485,500	1,477,200	1,400,600	1,300,100	1,033,700	1,057,900	1,297,700	1,166,200	936,300	1,858,400	7,588,200
Depreciation And Amortization	342,800	331,300	332,100	324,800	329,900	274,300	238,000	209,100	219,700	222,900	211,800	216,200	217,800	203,700	204,500	239,100	252,700	244,300	237,200	237,400	208,800	206,400	202,600	198,100	206,700	208,200	203,500	191,100	194,100	184,000	186,100	193,500	228,800	165,800	162,900	119,600	97,900	87,700	85,800	79,600	73,200	69,000	65,700	64,000	53,300	48,600	48,300	47,400	46,700	45,600	45,300	43,400	37,300	50,700	43,900	42,800	40,200	45,000	-	0
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Ebit	627,100	508,000	650,500	836,700	551,400	430,000	451,900	295,800	310,500	381,000	245,800	344,100	2,760,500	373,300	213,100	2,808,100	416,100	12,600	112,500	71,000	289,600	215,500	1,400	142,200	138,100	306,200	37,400	82,700	74,300	-132,400	66,300	-110,000	144,400	115,300	116,200	26,700	77,600	168,700	150,300	78,800	71,800	26,900	2,600	73,900	45,900	56,800	83,000	109,800	111,500	73,200	99,800	41,100	62,500	53,400	50,800	55,100	97,100	50,400	0	0
Ebitda	969,900	839,300	982,600	1,161,500	881,300	704,300	689,900	504,900	530,200	603,900	457,600	560,300	2,978,300	577,000	417,600	3,047,200	668,800	256,900	349,700	308,400	498,400	421,900	204,000	340,300	344,800	514,400	240,900	273,800	268,400	51,600	252,400	83,500	373,200	281,100	279,100	146,300	175,500	256,400	236,100	158,400	145,000	95,900	68,300	137,900	99,200	105,400	131,300	157,200	158,200	118,800	145,100	84,500	99,800	104,100	94,700	97,900	137,300	95,400	-	0
Effect Of Accounting Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Extraordinary Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Gross Profit	722,400	875,300	1,002,700	1,176,700	900,700	766,600	738,600	545,900	652,200	622,200	495,000	580,200	596,700	608,200	458,400	621,500	518,400	330,100	396,500	336,000	380,400	396,600	336,500	316,500	327,800	260,400	243,700	267,300	274,500	245,600	252,300	237,900	223,300	293,900	298,500	291,800	300,300	320,200	298,100	300,000	281,800	228,000	199,500	196,300	206,800	240,500	244,500	261,600	259,500	228,100	250,500	217,500	227,100	186,300	182,200	185,900	224,800	189,300	0	377,800
Income Before Tax	460,100	332,900	483,900	665,500	405,700	291,300	774,700	191,500	-257,900	290,000	162,000	242,900	184,500	204,100	153,900	-2,115,600	-93,000	28,300	45,600	-27,600	-120,400	-15,100	153,900	47,800	34,400	-252,500	-35,400	-39,400	-237,400	-11,900	-12,900	2,400	-246,500	44,800	38,600	49,800	106,900	135,900	118,700	129,400	113,500	62,400	30,500	43,200	39,800	25,000	52,100	79,300	82,900	43,900	68,600	46,600	28,300	4,300	14,300	38,900	64,000	9,900	25,900	153,700
Income Tax Expense	102,500	53,900	96,400	110,300	9,800	12,000	87,100	22,900	-8,700	2,000	6,600	15,000	38,500	31,900	-23,200	-295,300	-77,900	-3,800	-3,300	-2,900	-32,200	-3,900	32,800	8,900	-264,800	-97,400	-106,000	71,100	-96,800	-8,700	1,700	3,100	-14,500	24,000	14,800	15,200	14,400	15,500	15,500	22,500	17,900	13,000	8,000	9,400	12,200	6,000	8,600	10,100	8,100	7,400	5,300	5,800	4,000	8,600	6,900	3,000	15,600	-600	5,700	19,300
Interest Expense	189,900	175,100	166,600	168,000	145,600	125,800	81,200	109,400	103,700	91,000	96,700	113,100	100,700	97,700	96,700	98,000	96,000	89,100	72,100	80,600	61,600	78,200	62,000	16,100	52,500	56,100	62,100	63,000	67,200	62,700	71,400	52,900	36,400	70,400	70,200	55,000	40,600	36,900	35,700	33,900	36,200	33,400	32,400	32,100	29,800	30,000	30,500	30,500	28,400	26,800	28,000	28,500	27,000	30,000	26,400	27,500	29,300	36,900	65,900	141,200
Interest Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	77,400	72,900	79,100	68,900	77,800	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Minority Interest	-58,000	-59,000	-58,200	58,200	77,900	86,200	91,200	80,600	64,400	105,800	3,210,300	81,500	112,400	102,900	3,351,500	3,346,200	3,522,100	3,501,500	3,396,800	1,581,000	1,391,400	12,500	12,000	16,000	16,100	12,500	13,000	8,800	10,000	7,500	8,600	2,000	4,780,700	8,100	8,600	31,400	66,800	89,700	76,800	87,300	75,200	33,100	7,500	20,400	16,400	10,400	34,800	59,600	66,300	31,600	52,800	34,000	32,100	13,200	19,000	14,000	32,100	11,000	6,700	97,100
Net Income	299,600	220,000	329,300	497,000	318,000	279,300	596,400	168,600	-313,600	182,200	56,200	146,400	33,600	69,300	81,000	-1,737,800	-112,800	-47,300	-10,200	-38,900	-106,600	-23,700	109,100	22,900	283,300	-167,600	57,600	-119,300	-150,800	-10,700	-23,200	-2,700	26,900	12,700	15,200	3,200	25,600	30,700	26,400	19,600	20,400	16,300	15,000	13,400	11,200	8,700	8,600	9,600	8,500	4,900	10,500	6,800	-7,800	-17,500	-11,600	21,900	16,300	-500	13,500	37,300
Net Income Applicable To Common Shares	0	217,800	325,700	6,300	317,900	193,100	372,700	13,100	-335,400	160,400	34,400	124,600	-900	36,900	48,900	-1,769,700	-144,400	-78,600	-41,200	-69,700	-137,200	-54,000	79,000	-7,000	253,700	-197,000	28,400	-148,300	-410,000	-39,400	-52,600	-6,500	26,900	12,700	15,200	3,200	25,500	30,800	26,400	19,600	20,500	16,300	14,900	13,400	11,200	8,700	8,600	9,600	8,500	4,900	10,500	6,800	0	0	-17,300	17,300	11,700	-4,800	4,800	20,500
Net Income From Continuing Ops	357,600	279,000	387,500	555,200	395,900	279,300	687,600	168,600	-249,200	288,000	155,400	227,900	146,000	172,200	177,100	-1,820,300	-15,100	32,100	48,900	-24,700	-88,200	-11,200	121,100	38,900	1,333,100	-155,100	70,600	-110,500	-211,600	-3,200	-14,600	-700	-151,400	20,800	23,800	34,600	423,000	0	103,200	0	0	0	0	33,800	0	0	0	0	0	36,500	63,300	0	0	0	0	0	0	0	0	0
Net Interest Income	-180,100	-175,100	-166,600	-168,000	-145,600	-125,800	-115,000	-109,400	-103,700	-91,000	-96,700	-113,100	-100,700	-111,400	-74,900	-98,000	-96,000	-89,100	-72,100	-80,600	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Non Operating Income Net Other	0	0	0	-3,200	-100	-12,900	437,800	5,100	-62,600	14,500	12,900	11,900	19,700	20,000	15,700	20,600	0	75,800	3,200	2,800	0	3,000	1,900	1,500	0	400	200	-21,100	0	-800	-4,500	-4,900	0	400	200	-23,500	0	0	4,100	0	0	0	0	1,400	0	0	0	0	0	-100	-1,900	0	0	0	0	0	0	0	-	0
Non Recurring	0	0	0	0	0	0	0	0	452,300	0	0	0	0	0	0	2,442,800	0	0	0	0	0	0	0	0	-756,000	378,000	-1,512,000	378,000	612,000	-492,000	63,000	24,000	322,600	0	0	0	290,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Operating Income	627,100	505,100	649,100	836,700	551,400	430,000	451,900	295,800	-91,600	366,500	245,800	344,100	265,200	295,500	213,100	-2,077,500	-23,700	41,600	113,700	61,300	-80,700	76,700	155,400	86,300	113,500	-323,600	37,200	50,500	-97,600	51,600	66,300	35,500	-206,900	115,300	112,400	137,300	163,100	168,700	150,300	158,400	145,000	88,500	60,900	73,900	86,400	59,000	83,200	107,700	108,300	70,800	98,500	73,500	49,600	43,300	48,400	54,800	93,100	50,000	70,900	215,000
Other Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Operating Expenses	3,604,700	3,391,500	2,754,600	3,683,800	4,003,200	4,930,100	5,603,900	4,663,300	5,068,600	4,093,200	3,170,100	3,288,600	2,265,100	1,748,100	1,310,400	1,683,600	2,275,900	1,842,500	1,881,800	2,238,100	2,482,800	2,848,600	2,335,700	2,369,400	2,590,000	2,077,100	1,830,400	2,046,000	1,927,200	1,600,700	1,517,300	1,382,900	1,564,200	1,516,800	1,587,000	1,542,400	1,869,800	2,119,600	1,911,600	2,194,500	2,014,800	1,468,300	1,380,700	1,323,900	1,440,900	1,334,500	1,235,900	1,538,100	1,825,700	1,642,800	1,629,200	1,544,600	1,477,600	1,176,700	1,191,700	1,428,800	1,297,900	1,075,600	0	0
Preferred Stock And Other Adjustments	0	0	0	0	0	0	8,200	21,800	21,900	21,800	21,800	21,800	23,000	22,900	22,900	22,900	0	22,900	22,900	22,900	0	22,900	22,900	22,900	0	22,900	22,900	22,900	0	22,900	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Reconciled Depreciation	341,400	331,300	332,100	324,800	329,800	287,200	269,900	209,100	219,700	222,900	211,800	216,200	217,800	203,700	204,500	239,100	252,700	244,300	237,200	237,400	208,800	206,400	202,600	198,100	206,700	208,200	203,500	191,100	194,100	184,000	186,100	193,500	228,800	165,800	162,900	119,600	97,900	87,700	85,800	79,600	73,200	69,000	65,700	64,000	53,300	48,600	48,300	47,400	46,700	45,600	45,300	43,400	37,300	50,700	43,900	42,800	40,200	45,000	-	0
Research Development	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling And Marketing Expenses	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	8,800	0	0	0	0	0	-	0
Selling General Administrative	95,300	90,000	81,000	82,400	92,500	79,100	71,000	67,100	80,800	67,300	63,700	61,400	74,000	58,600	61,500	60,500	57,200	69,900	72,800	81,100	80,000	63,200	57,000	56,700	53,900	49,900	51,000	48,700	48,900	46,100	47,000	45,300	25,100	44,900	49,200	42,600	25,800	43,000	41,600	38,000	39,000	37,700	38,400	36,300	33,500	35,700	35,700	34,900	31,000	35,400	35,100	34,600	54,600	27,000	28,000	26,000	36,800	31,500	0	0
Tax Provision	102,500	53,900	96,400	110,300	9,800	12,000	87,100	22,900	-8,700	2,000	6,600	15,000	38,500	31,900	-23,200	-295,300	-77,900	-3,800	-3,300	-2,900	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Total Operating Expenses	95,300	370,200	353,600	340,000	349,100	336,600	286,700	250,100	279,200	255,700	249,200	236,100	289,000	241,200	245,300	256,200	320,400	270,100	283,000	274,700	265,500	258,800	227,800	230,300	215,000	205,700	206,400	200,700	189,100	194,000	186,000	178,400	140,100	178,600	186,100	154,500	137,200	151,500	147,800	141,600	136,800	139,500	138,600	122,400	120,400	181,500	161,300	153,900	151,200	157,300	152,000	144,000	177,500	143,000	133,800	131,100	131,700	139,300	0	0
Total Other Income Expense Net	-167,000	2,900	1,400	-171,200	-145,700	-138,700	322,800	-104,300	-527,200	14,500	12,900	11,900	-22,500	-51,500	15,700	-2,422,200	-195,000	57,400	4,200	-6,900	-173,700	-74,700	109,200	-54,500	-25,600	-251,100	100	-37,200	-186,000	-800	-4,500	-28,900	-293,200	-100	-3,600	-32,500	-15,600	4,100	4,100	4,900	4,700	7,300	2,000	1,400	-16,800	-4,000	-600	2,100	3,000	-100	-1,900	-26,900	5,700	-9,000	-7,700	11,600	200	-2,200	0	0
Total Revenue	4,231,800	3,896,600	3,403,700	4,520,500	4,554,800	5,360,100	6,055,800	4,959,100	5,441,600	4,459,700	3,415,900	3,632,700	2,572,800	2,115,100	1,523,500	2,048,900	2,473,900	1,902,500	1,995,300	2,299,400	2,597,700	2,986,400	2,444,400	2,455,600	2,702,800	2,131,800	1,867,700	2,112,600	2,012,600	1,652,300	1,583,600	1,442,400	1,647,400	1,632,100	1,699,400	1,679,700	2,032,900	2,288,300	2,061,900	2,352,900	2,159,800	1,556,800	1,441,600	1,397,800	1,527,300	1,393,500	1,319,100	1,645,800	1,934,000	1,713,600	1,727,700	1,618,100	1,527,200	1,220,000	1,240,100	1,483,600	1,391,000	1,125,600	2,014,400	7,966,000

Latest Income Statement (annual, 2023-12-31)

Gross Profit (+$)
totalRevenue	15,619,200
Cost of Revenue	-13,083,900
Gross Profit	2,535,300	2,535,300

Operating Income (+$)
Gross Profit	2,535,300
Operating Expense	-348,600
Operating Income	2,186,700	2,186,700

Operating Expense (+$)
Research Development	0
Selling General Administrative	348,700
Selling And Marketing Expenses	0
Operating Expense	348,600	348,700

Net Interest Income (+$)
Interest Income	0
Interest Expense	-728,900
Other Finance Cost	-73,500
Net Interest Income	-655,400

Pretax Income (+$)
Operating Income	2,186,700
Net Interest Income	-655,400
Other Non-Operating Income Expenses	0
Income Before Tax (EBT)	1,942,500	2,430,900 EBIT - interestExpense = 1,457,800 1,191,400 1,557,100
Interest Expense	728,900
Earnings Before Interest and Taxes (EBIT)	2,186,700	2,671,400
Earnings Before Interest and Taxes (EBITDA)	3,522,200

After tax Income (+$)
Income Before Tax	1,942,500
Tax Provision	-270,500
Net Income From Continuing Ops	1,617,600	1,672,000
Net Income	828,200
Net Income Applicable To Common Shares	0

Non-recurring Events
Discontinued Operations	0
Extraordinary Items	0
Effect of Accounting Charges	0
Other Items	0
Non Recurring	0
Other Operating Expenses	13,432,500
Total Other Income/Expenses Net	-244,200	655,400

Technical Analysis of Targa Resources Inc
The psychology behind the price

Technical indicators reflecting market sentiment and the collective psychology of you and other traders. Your emotions and other traders' emotions, such as fear and greed, play a significant role in driving price movements.

General trend

First of all, I'm going to put something in the back of your mind. One of the most stable factors that gives you more confidence as a trader: the general trend of Targa Resources Inc. The general trend of Targa Resources Inc is BULLISH with 100.0% confidence. It is very important for your mental being to use each indicator with this in mind. But beware, also the general trend flips once in a while! You can use moving averages to determine Targa Resources Inc's overall trend. For convenience I use the most commonly used moving averages: 20, 50, 100 & 200. Of course you can use other moving averages or other indicators to determine the trend.

Indicator phases

Some of the indicators I use have 3 zones: overbought, oversold and neutral. Transitions between these zones (market phases) provide valuable trading signals and insights. Expecially with the general trend mind, I use the highlighted phases:

Indicator zone transitions	Bullish trend (100.0%)		Bearish trend (-100.0%)
Overbought to neutral	Bullish pullback	=	Bearish reversal
Upper to lower neutral	Bullish correction	=	Bearish continuation
Nuetral to oversold	Oversold	=	Oversold
Oversold to neutral	Bullish reversal	=	Bearish correction
Lower to upper neutral	Bullish continuation	=	Bearish pullback
Nuetral to overbought	Overbought	=	Overbought

1. Price Targets

1.1 Support & Resistance

Support and resistance are levels on a price chart that act as barriers or zones where the price of an asset tends to stop, reverse, or experience a significant amount of buying or selling pressure.

Support is a price level at which demand for an asset is strong enough to prevent the price from falling further.
Resistance is a price level at which selling pressure becomes significant enough to prevent the price of an asset from rising further.

Score

Let's take a look at the Support & Resistance of Targa Resources Inc.

The long score for the Support & Resistance is 1/1.
The longshort score for the Support & Resistance is 1/(-1 +1).

Around support: The price is currently trading around a support level. This can be considered as a potential entry level. +1

The bullish price targets are: .

The bearish price targets are: 117.61 > 111.27 > 99.04.

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Targa Resources Inc Daily Support & Resistance Chart

2. Trend Indicators

2.1 Moving Averages

Shows the moving average of the selected period.

Moving averages are lagging trend indicators.
There are many types of moving averages.
Moving averages are also used within other indicators.

Score

Let's take a look at the Moving Averages of Targa Resources Inc. The current mas is .

The long score for the Moving Averages is 14/14.
The longshort score for the Moving Averages is 14/(-14 +14).

MA 20 trending up: The MA 20 is trending up. +1
Close > MA 20: The price is above the MA 20. +1
MA 20 > MA 50: The MA 20 is higher than the MA 50. +1
MA 20 > MA 100: The MA 20 is higher than the MA 100. +1
MA 20 > MA 200: The MA 20 is higher than the MA 200. +1
MA 50 trending up: The MA 50 is trending up. +1
Close > MA 50: The price is above the MA 50. +1
MA 50 > MA 100: The MA 50 is higher than the MA 100. +1
MA 50 > MA 200: The MA 50 is higher than the MA 200. +1
MA 100 trending up: The MA 100 is trending up. +1
Close > MA 100: The price is above the MA 100. +1
MA 100 > MA 200: The MA 100 is higher than the MA 200. +1
MA 200 trending up: The MA 200 is trending up. +1
Close > MA 200: The price is above the MA 200. +1

Directionalities and relatives.

Moving Average	Amount of candles	vs. MA 50	vs. MA 100	vs. MA 200
MA 20	20
MA 50	50	-
MA 100	100	-	-
MA 200	200	-	-	-

Explanation: https://www.youtube.com/watch?v=xwW8h0lrQ-I

Shows the moving average of the selected period.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

There are various kinds of moving averages:

Simple moving average (SMA);
Exponential moving average (EMA);
Smoothed moving average (SMMA);
Linear weighted moving average (LWMA).

The moving average looks at a certain period of time and it calculates the price average. The various types of averages are using various formulas. Don’t worry, you don’t have to memorize any formula. All moving averages are calculated automatically by basically every charting software you use. But it’s good to know how moving averages are actually calculated.

Simple moving average

SMA is calculated by summing up the price closures of the selected period. The price is then divided by the selected period. For example, when using the 21 day moving average you sum up all the closing prices for each day and divide that by 21. The result is a line on the chart representing the average. Because it’s an average in the selected timeframe, the trend is always lagging. An moving average looks like this on the chart:

Source: Tradingview.com

In this case, the blue line represents a 21 day moving average. Because the average is based on results from the past, the indicator will always lag behind. For example, when price would suddenly go up, the moving average won't immediately follow.

All other moving averages discussed below look the same on the chart. The only difference is that the line will move in different directions based on the maths behind the used indicators and the amount of days used to determine the average.

Exponential moving average

The EMA gives more weight to the latest closing prices by giving them more value in the equation. EMA is calculated by adding a certain percentage to the latest closing prices:

EMA = (CLOSE (i) * P) + (EMA (i - 1) * (1 - P))

Where:

CLOSE (i) = current period close price.
EMA (i - 1) = value of the Moving Average of a preceding period.
P = the percentage of using the price value.

Smoothed moving average

A smoothed moving average is an exponential moving average with a long lookback period. Older prices are reduced in weight but are never left out in the calculation. Unlike SMA and EMA where prices are removed when they are beyond the selected period. SMMA is a combination of the SMA and EMA. The main advantage is that it smooths out fluctuations in price.

Linear weighted moving average

The LWMA gives the latest price the highest weight and then lineary scales down with each price before that. The result is that the LWMA reacts quicker to changes in price than the SMA or EMA. The formula:

LWMA = ((Pn∗W1)+(Pn−1∗W2)+(Pn−2∗W3)...) / ∑W

Where:

P = Price for the period.
n = The most recent period, n-1 is the prior period, and n-2 is two periods prior.
W = The assigned weight to each period, with the highest weight going first and then descending linearly based on the number of periods being used.

Moving averages are widely used by many traders. Which moving average you need depends on your trading strategy. Common practise is using a combination of multiple periods. For example, the EMA21, EMA50, EMA100 and EMA200. How does that look on a chart:

Source: Tradingview.com

The lowest (purple) line on the chart represents the EMA200 then following up the EMA100, EMA50 and EMA21.

You can use moving averages to determine a trend. The 200 moving average is mostly used as a baseline for determining the current trend:

When the 200 moving average is moving up it is considered a bullish trend.
When the 200 moving average is down it is considered a bearish trend.
When moving averages are flatlined, there is no clear trend so you should look for market structure, consolidation or trend reversals. Depending on how you want to trade.

This is not set in stone. Most trading strategies use multiple moving averages each with different settings. While one strategy might use the EMA20, the other uses the SMA21. There can be hundreds of different variations. Moving averages can also be used as support and resistance. More often than not, prices will bounce on moving averages.

Targa Resources Inc Daily Moving Averages Chart

2.2 Moving Average Convergence/Divergence (MACD)

Shows the momentum of the selected period based on two moving averages.

MACD is a lagging momentum indicator.
Uses two moving averages.
Can show buy or sell signals based on momentum.
Can show overbought. and oversold. levels.

Score

Let's take a look at the Moving Average Convergence/Divergence (MACD) of Targa Resources Inc. The current macd is 2.3428841.

The long score for the Moving Average Convergence/Divergence (MACD) is 2/4.
The longshort score for the Moving Average Convergence/Divergence (MACD) is 0/(-4 +4).

MACD line < signal line: The MACD line is below the signal line, which indicates a bearish signal in the market. This means that the negative momentum is currently stronger than the average momentum, suggesting that sellers are more active than buyers, and there's a higher probability of the Targa Resources Inc price going down in the near term. -2
MACD > 0: The MACD is above the zero line (centerline), it indicates a bullish signal for Targa Resources Inc. This means that the short-term moving average is higher than the long-term moving average, signaling positive momentum and suggesting a higher likelihood of the Targa Resources Inc price continuing to rise in the near future. It indicates that buyers are gaining control, and there is optimism in the market, leading to potential price increases. +1
Trending up: The MACD line is trending up. This indicates that the short-term moving average is rising faster than the long-term moving average, suggesting positive momentum in the market. This signals that buyers are becoming more active and confident, leading to potential price increases as traders anticipate further gains and are willing to buy at higher prices. +1

Targa Resources Inc Daily Moving Average Convergence/Divergence (MACD) Chart

2.3 Directional Movement Index (DMI)

The DMI is a collection of 3 indicators: +DI (Plus Direction Indicator), -DI (Minus Direction Indicator) and ADX (Average Directional Index). The ADX helps you determine the strength of a trend.

Score

Let's take a look at the Directional Movement Index (DMI) of Targa Resources Inc. The current adx is 53.44.

The long score for the Directional Movement Index (DMI) is 3/7.
The longshort score for the Directional Movement Index (DMI) is 3/(-7 +7).

PLUS_ID > MINUS_DI: The +DI line is above the -DI line. This indicates a bullish signal in the market, as the positive directional movement is currently stronger than the negative directional movement, showing that buyers have the upper hand. Market psychology suggests that traders are optimistic, expecting further price increases, and are more willing to buy Targa Resources Inc shares, leading to potential upward momentum in its price. +1
PLUS_ID > MINUS_DI && ADX > 25 && ADX trending down: The ADX is above 25 and indicates a strong bullish trend. The ADX is declining, the bullish trend is weakening. Could be a potential reversal to the downside. +2

Targa Resources Inc Daily Directional Movement Index (DMI) Chart

2.4 Parabolic SAR

Shows the current trend and potential entry and exit signals.

Parabolic SAR (stop and reverse) is a lagging trend indicator.
Shows the current trend.
Shows potential entry signals.
Shows potential exit signals.
Can be used to place trailing stoplosses..

Score

Let's take a look at the Parabolic SAR of Targa Resources Inc. The current sar is 111.60.

The long score for the Parabolic SAR is 1/1.
The longshort score for the Parabolic SAR is 1/(-1 +1).

Close > SAR: The price is above the SAR. It's generally considered a bullish signal. +1

Targa Resources Inc Daily Parabolic SAR Chart

3. Momentum Indicators

3.1 Relative Strength Index (RSI)

Measures the speed and change of price movements.

Leading momentum indicator, meaning the signals are instant.
Ranges between 0 and 100.
Above 70 is considered overbought.
Below 30 is considered oversold.
Above or below 50 can also be used to determine price trend or support and resistance.
RSI divergence looks at a deviation between RSI and price movement. Penketrading automatically calculates RSI divergences.
Can be used in many different ways

Score

Let's take a look at the Relative Strength Index (RSI) of Targa Resources Inc. The current rsi is 71.26. The current phase is Overbought in bull market.

The long score for the Relative Strength Index (RSI) is 1/13.
The longshort score for the Relative Strength Index (RSI) is 0/(-13 +13).

Overbought in bull market: Short-term excessive buying, potential for pullback. Consider taking profits, be cautious of potential correction. -1
Trending up: The RSI is trending up. +1

Measures the speed and change of price movements.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

The RSI measures the magnitude of recent price changes to determine if the asset is overbought or oversold.

Overbought (RSI above 70) means that the trading price is above its intrinsic value. This might indicate a sell or short signal.
Oversold (RSI below 30) means that the trading price is below its intrinsic value. This might indicate a buy or long signal.
RSI levels above or below 50 can also be used to determine a trend.
RSI divergence looks at a deviation between RSI and price movement.
Can be used in many different ways.

Original usage

Keep in mind that almost every indicator can be used in different ways. Even beyond the orginal settings. The relative strength index was developed by J. Welles Wilder. Wilder recommended a smoothing period of 14 days. That means a 14 day moving average (read more about this setting below). Another quote from the wikipedia page:

Wilders also considers the RSI 50 line as both support and resistance. I recommend to always read the original settings first before using an indicator. Many traders and websites are using their own version of the indicator which might be confusing.

How you can use RSI (Divergence)

First and foremost, there is no real right or wrong usage of the RSI indicator. You can use it in any way you want. Wilder recommends using a 14 day average but you can make it 50 or 100 if you like. Just keep in mind that using an indicator is just part of a larger trading plan. In other words, it’s not recommended to do any trading or investing based on a single indicator like the RSI.

The RSI is measured on a scale between 0 and 100. From 30 till 0 is considered oversold. and from 70 -100 is overbought. The RSI is a leading indicator, meaning the signals are instant.

I like to use the RSI as a trend\momentum indicator and not as an overbought or oversold indicator. I use the middle (50) as the baseline. When prices go above RSI 50 the trend is bullish and can indicate long positions. When below 50 it is considered bearish and can indicate short positions. Other traders use the 70 and 30 levels as overbought/oversold depending on the used strategy. The RSI indicator looks like this:

Source: Tradingview.com

The general concensus is that an RSI above 70 indicates that the security is overbought. In other words, the price this security is trading for is to high and should come down. So if RSI hits 70 or above this might indicate a sell signal or taking a short position (expecting the price will go down). Although RSI above 70 indicates the security is trading above it's fair value, that does not mean the price will go down.

Use tradingview to add indicators

I highly recommend using tradingview to add indicators to a chart. It has all the indicators you can think off and can add them for free (up to three indicators) to any chart you want. You can see that the levels 30 and 70 are marked with a dotted line. If you want you can remove these lines or give it another colour using Tradingview. You can also adjust the moving average used. You can also find RSI indicators made by the community that include other settings like RSI divergences.

Tradingview

Use Tradingview to (back)test your strategies and add hundreds of indicators created by the community.

View tool on Tradingview.com

RSI divergence

RSI is not only used to determine momentum but can also spot reversals or continuations of the trend. A reversal means that the trend is going in the opposite direction. From bullish to bearish or from bearish to bullish. These reversals can be spotted by looking at the price and the direction of the RSI. When the price is going up but the RSI is going down that means there is a divergence. This is also the case when RSI goes up but price is going down.

There are four types of divergences:

Regular bullish divergence
Regular bearish divergence
Hidden bullish divergence
Hidden bearish divergence

Regular bullish divergence

With a regular bullish divergence, the price is making lower highs but the oscillator (in this case the RSI) is making higher lows. A regular bullish divergence might indicate the end of the current trend. You’ll see regular bullish divergences mostly at the end of a downtrend. But that does not mean that every regular bullish divergence is a trend reversal.

Price is making lower highs
RSI is making higher lows
Indicating bullish reversal (price might go up)

Source: Tradingview.com

Regular bearish divergence

With a regular bearish divergence the price is making higher highs but the oscillator (in this case the RSI) is making lower highs. This might indicate the end of an uptrend.

Price is making higher highs
RSI is making lower highs
Indicating bearish reversal

Source: Tradingview.com

Hidden bullish divergence

With a hidden bullish divergence, the price is making a higher low while the RSI is making a lower low. This might indicate bullish trend continuation.

Price is making higher lows
RSI is making lower lows
Indicating bullish continuation

Source: Tradingview.com

As you have noticed, you can have multiple divergences in a row.

Hidden bearish divergence

With a hidden bearish divergence, price is making lower highs but RSI is making higher highs. This might indicate bearish trend continuation.

Price is making lower highs
RSI making higher highs
Indicating bearish continuation

Source: Tradingview.com

You can find many cheatsheets of RSI divergences online. Search for "RSI divergence overview" and you'll find a lot of examples. You can print these to learn the various types of divergences.

Targa Resources Inc Daily Relative Strength Index (RSI) Chart

3.2 Stochastic Oscillator

Compares a certain price to multiple prices ranging over time.

Leading momentum indicator, meaning the signals are instant.
Used to determine overbought and oversold areas much like the RSI.
Ranges between 0 and 100.
Above 80 is considered overbought.
Below 20 is considered oversold.
Consists of two lines named K and D.
K compares the highest high and lowest low on the selected price range.
The D line is a moving average of the K line.
Can be used to spot divergences

Score

Let's take a look at the Stochastic Oscillator of Targa Resources Inc. The current phase is Overbought in bull market.

The long score for the Stochastic Oscillator is 6/6.
The longshort score for the Stochastic Oscillator is 6/(-6 +6).

STOCH > 50: The STOCH %K is above 50. There are more buyers than sellers. +1
STOCH > 80: The STOCH %K is above 80 and overbought. +2
STOCH %K line > STOCH %D line: The STOCH %K line is above the STOCH %D line, which indicates a bullish signal in the market. This means that the positive momentum is currently stronger than the average momentum, suggesting that buyers are more active than sellers, and there's a higher probability of the Targa Resources Inc price going up in the near term. +2
Trending up: The STOCH %K is trending up. +1

Targa Resources Inc Daily Stochastic Oscillator Chart

3.3 Commodity Channel Index (CCI)

Measures the difference between the current price and the historical average price.

Lagging or leading Momentum indicator
When the CCI is above zero, the price is above the historical average
When the CCI is below zero, the price is below the historical average
Used for spotting trends
- If the CCI moves from negative or near zero to positive 100 that might indicate an uptrend
- If the CCI moves from positive or near zero to negative -100 that might indicate a downtrend

Score

Let's take a look at the Commodity Channel Index (CCI) of Targa Resources Inc. The current cci is 143.19.

The long score for the Commodity Channel Index (CCI) is 1/1.
The longshort score for the Commodity Channel Index (CCI) is 1/(-1 +1).

CCI > 100: The CCI is above 100, it indicates that the price is significantly above its average, suggesting a potential overbought condition. +1

Targa Resources Inc Daily Commodity Channel Index (CCI) Chart

3.4 Chande Momentum Oscillator (CMO)

Measures the difference between the sum of recent gains and the sum of recent losses. Then divides the result by the sum of all price movements in that period.

Lagging momentum indicator
Ranges between +100 and -100
Considered overbought above +50
Considered oversold below -50
It's possible to add a moving average that acts as a signal line

Score

Let's take a look at the Chande Momentum Oscillator (CMO) of Targa Resources Inc. The current cmo is 45.27.

The long score for the Chande Momentum Oscillator (CMO) is 1/1.
The longshort score for the Chande Momentum Oscillator (CMO) is 1/(-1 +1).

CMO > 0: The CMO is above 0, the momentum of the price is positive, indicating a potential uptrend in the price. +1

Targa Resources Inc Daily Chande Momentum Oscillator (CMO) Chart

3.5 Williams %R

Shows the current price relative to the highest high over the last 14 days.

Lagging momentum indicator
Ranging between 0 and -100
Above -20 is considered overbought
Below -80 is considered oversold
Is prone to give false signals

Score

Let's take a look at the Williams %R of Targa Resources Inc. The current willr is -2.87878788.

The long score for the Williams %R is 1/1.
The longshort score for the Williams %R is 1/(-1 +1).

WILLR > -20: The Williams %R is above -20. This indicates that the price is in overbought territory, suggesting a potential price correction or trend reversal to the downside. +1

Targa Resources Inc Daily Williams %R Chart

4. Volatility Indicators

4.1 Bollinger Bands

Shows if the price is to high or to low relative to an average.

Lagging volatility indicator
Uses 3 bands: one upper, one lower and one in the middle
Works best when the middle band reflects an intermediate trend (MA20).
When the price is moving closer to the upper band, the market might be overbought
When the price is moving closer to the lower band, the market might be oversold

Score

Let's take a look at the Bollinger Bands of Targa Resources Inc.

Targa Resources Inc Daily Bollinger Bands Chart

4.2 Average True Range (ATR)

Measures market volatility

Leading volatility indicator
Can be used to determine stop-loss positions
Calculated by:
- Current high minus the current low
- Current high minus the previous close
- Current low minus the previous close
The larger the range of the candles, the greater the ATR value

Score

Let's take a look at the Average True Range (ATR) of Targa Resources Inc. The current atr is 2.24836033.

Targa Resources Inc Daily Average True Range (ATR) Chart

5. Volume Indicators

5.1 On-Balance Volume (OBV)

Measures market volatility

Leading momentum indicator
Calculation:
- If the closing price is above the previous closing price: OBV = previous OBV + current volume
- If the closing price is below the previous closing price: OBV = previous OBV - current volume
- If the closing price is the same as the previous closing price than the OBV is the same.
Can be used to confirm price trends
Can be used with divergences

Score

Let's take a look at the On-Balance Volume (OBV) of Targa Resources Inc. The current obv is 77,216,640.

Targa Resources Inc Daily On-Balance Volume (OBV) Chart

5.2 Money Flow Index (MFI)

Measures the flow of money in and out of a security

Lagging momentum indicator
Looks like RSI but uses volume as an extra metric (RSI only considers price)
Above 80 is considered overbought
Below 20 is considered oversold
Can be used with divergences

Score

Let's take a look at the Money Flow Index (MFI) of Targa Resources Inc. The current mfi is 52.46.

The long score for the Money Flow Index (MFI) is 1/2.
The longshort score for the Money Flow Index (MFI) is 1/(-2 +2).

MFI > 50: +1

Targa Resources Inc Daily Money Flow Index (MFI) Chart

6. Summary

6.1. Notifications

Type	Notification	Date
Currently no notifications for Targa Resources Inc.

6.2. Trading Signals

Below you will find trading signals as the indicator is commonly used. This doesn't mean you should use it that way. Learn from these, but don't use them blindly. I recommend using at least 4 indicators, 1 from each category: trend, momentum, volatility and volume.

Date	Indicator	Signal
2023-12-04	MFI	SHORT ENTRY	LONG CLOSE	80 crossover to downside
2023-12-06	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2023-12-07	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2023-12-08	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-12	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2023-12-13	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-15	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-18	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-19	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2023-12-20	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2023-12-21	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2023-12-22	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
2023-12-26	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2023-12-28	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2023-12-29	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-01-02	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-01-03	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-01-04	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-01-05	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
2024-01-08	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
2024-01-11	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
2024-01-12	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-16	STOCH	LONG EXIT		The %K line crosses below the %D line.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
2024-01-17	MFI	SHORT ENTRY	LONG CLOSE	20 crossover to downside
2024-01-18	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	MFI	LONG ENTRY	SHORT CLOSE	20 crossover to upside
2024-01-25	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-01-26	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
2024-01-31	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-02-01	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-02-02	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-05	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-06	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-02-08	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
2024-02-09	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-12	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-02-14	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-15	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-02-16	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
	MFI	LONG ENTRY	SHORT CLOSE	80 crossover to upside
2024-02-20	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-29	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-05	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
2024-03-08	MFI	SHORT ENTRY	LONG CLOSE	80 crossover to downside
2024-03-11	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-13	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-15	MFI	LONG ENTRY	SHORT CLOSE	80 crossover to upside
2024-03-18	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
2024-03-20	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-21	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-03-22	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-27	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
2024-03-28	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-03	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-04-04	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-05	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-08	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
2024-04-09	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	MFI	SHORT ENTRY	LONG CLOSE	80 crossover to downside
2024-04-11	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-12	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-16	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
2024-04-17	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-04-18	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-04-19	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-04-23	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
2024-04-24	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside

6.3. Candlestick Patterns

Targa Resources Inc Daily Candlestick Chart

Date	Candlestick Pattern

6.4. Technical Score

Let's check the technical score of Targa Resources Inc based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	71.263
Ma 20	Greater than	Ma 50	114.433
Ma 50	Greater than	Ma 100	107.427
Ma 100	Greater than	Ma 200	96.610
Open	Greater than	Close	117.010
Total			4/5 (80.0%)

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Quick analysis of Targa Resources Inc (30 sec.)

What can you expect buying and holding a share of Targa Resources Inc? (30 sec.)

How much money do you get?

What is your share worth?

+ What do you gain per year?

For what price can you sell your share?

1. Valuation of Targa Resources Inc (5 min.)

$117.68

$20.71

$-32.35 - $74.84

$-11.64 - $95.55

2. Growth of Targa Resources Inc (5 min.)

Is Targa Resources Inc growing?

How much money is Targa Resources Inc making?

How much money comes from the company's main activities?

3. Financial Health of Targa Resources Inc (5 min.)

4. Comparing to competitors in the Oil & Gas Midstream industry (5 min.)

Industry Rankings (Oil & Gas Midstream)

What can you expect buying and holding a share of Targa Resources Inc? (5 min.)

What can you expect buying and holding a share of Targa Resources Inc?

Speculation

Investing

How much money are you going to get?

When do you get the money?

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Linear %

Fundamentals of Targa Resources Inc

About Targa Resources Inc

Financial Health

Valuation

1.1. Profitability of Targa Resources Inc.

1.1. Profitability

1.1.1. Net Profit Margin

Trends

Compared to industry (Oil & Gas Midstream)

1.1.2. Return on Assets

Trends

Compared to industry (Oil & Gas Midstream)

1.1.3. Return on Equity

Trends

Compared to industry (Oil & Gas Midstream)

1.2. Operating Efficiency of Targa Resources Inc.

1.2. Operating Efficiency

1.2.1. Operating Margin

Trends

Compared to industry (Oil & Gas Midstream)

1.2.2. Operating Ratio

Trends

Compared to industry (Oil & Gas Midstream)

1.3. Liquidity of Targa Resources Inc.

1.3. Liquidity

1.3.1. Current Ratio

Trends

Compared to industry (Oil & Gas Midstream)

1.3.2. Quick Ratio

Trends

Compared to industry (Oil & Gas Midstream)

1.4. Solvency of Targa Resources Inc.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Trends

Compared to industry (Oil & Gas Midstream)

1.4.2. Debt to Equity Ratio

Trends

Compared to industry (Oil & Gas Midstream)

2. Market Valuation of Targa Resources Inc

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Trends

Compared to industry (Oil & Gas Midstream)

Targa Resources Inc
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