Opening its latest reports…Reading every line of the four statements…Putting it into plain words…
Opening its latest reports…Reading every line of the four statements…Putting it into plain words…
TRGPTarga Resources Corp.
Every company that sells shares in the US files four statements with the SEC. Together they show whether Targa Resources made money, what it owns and owes, where its cash went, and what changed for its shareholders. Below is every line exactly as Targa Resources filed it, with what each one means in plain English.
As filed with the SEC on Feb 19, 2026 · the full report · SEC's figures viewer
Income statement · also called the statement of operations, statement of earnings or profit and loss
Read it from the top down. It starts with everything customers paid (sales), takes away the cost of making what was sold, then the costs of running the company, then interest and tax. What is left at the bottom is profit (net income), the part that belongs to shareholders. It covers a stretch of time: a year, or a quarter.
Out of every $100 of sales
| Line (tap for what it means) | 12 months to Dec 31, 2025 | 12 months to Dec 31, 2024 | 12 months to Dec 31, 2023 |
|---|---|---|---|
| Revenues | |||
| $17.0B▲ 3.9% | $16.4B | $16.1B | |
| Costs and expenses | |||
| $10.5B▼ 1.8% | $10.7B | $10.7B | |
| $1.3B▲ 10% | $1.2B | $1.1B | |
| $1.5B▲ 6.5% | $1.4B | $1.3B | |
| $406.0M▲ 5.5% | $384.9M | $348.7M | |
| −$30.3M▼ 7475% | −$400.0K | $1.5M | |
| $3.3B▲ 24% | $2.7B | $2.6B | |
| Other income (expense) | |||
| −$852.8M▼ 11% | −$767.2M | −$687.8M | |
| $11.8M▲ 26% | $9.4M | $9.0M | |
| −$3.8M | $400.0K | −$4.9M | |
| $2.5B▲ 28% | $1.9B | $1.9B | |
| −$529.7M▼ 38% | −$384.5M | −$363.2M | |
| $2.0B▲ 26% | $1.6B | $1.6B | |
| $33.7M▼ 86% | $241.5M | $233.4M | |
| $1.9B▲ 47% | $1.3B | $1.3B | |
| $70.5M▲ 114% | $32.9M | $510.1M | |
| $1.9B▲ 45% | $1.3B | $835.8M | |
| $8.52▲ 48% | $5.77 | $3.69 | |
| $8.49▲ 48% | $5.74 | $3.66 | |
| 216.1M shares▼ 1.9% | 220.2M shares | 224.6M shares | |
| 216.9M shares▼ 2.0% | 221.3M shares | 226.0M shares | |
| Sales of Commodities | |||
|---|---|---|---|
| Sales (Total revenues) | $14.4B | $13.9B | $14.0B |
| Fees from Midstream Services | |||
| Sales (Total revenues) | $2.6B | $2.5B | $2.1B |
Every line as the company filed it (USD ($), shares in Millions, $ in Millions), shown in full dollars. See this statement on SEC.
Some value changes don't count as profit yet: currency moves on businesses abroad, rises or falls in investments it hasn't sold, and some hedges and pension changes. They are added to profit here to give comprehensive income, and they build up in shareholders' equity.
| Line (tap for what it means) | 12 months to Dec 31, 2025 | 12 months to Dec 31, 2024 | 12 months to Dec 31, 2023 |
|---|---|---|---|
| $2.0B | $1.6B | $1.6B | |
| Commodity hedging contracts | |||
| $111.9M | −$75.3M | $40.0M | |
| −$25.6M | $17.2M | −$9.1M | |
| $86.3M | −$58.1M | $30.9M | |
| $2.0B | $1.5B | $1.6B | |
| $33.7M | $241.5M | $233.4M | |
| $2.0B | $1.3B | $1.4B | |
| Commodity Contracts | |||
|---|---|---|---|
| Profit before tax (Change in fair value, pre-tax) | $202.8M | −$7.5M | $193.4M |
| Income tax (Change in fair value, related income tax) | −$46.4M | $1.7M | −$44.3M |
| Other gains and losses not in profit (other comprehensive income) (Change in fair value, after tax) | $156.4M | −$5.8M | $149.1M |
| Profit before tax (Settlements reclassified to revenues, pre-tax) | −$90.9M | −$67.8M | −$153.4M |
| Income tax (Settlements reclassified to revenues, related income tax) | $20.8M | $15.5M | $35.2M |
| Sales (Settlements reclassified to revenues, after tax) | −$70.1M | −$52.3M | −$118.2M |