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Targa's 2012 Income Sinks from Previous Year
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Targa Resources Partners LP and Targa Resources Corp. reported fourth quarter and full year 2012 results. The Saddle Butte acquisition, now called Targa Badlands or the Badlands acquisition, closed on December 31, 2012 and did not impact the Partnership's results of operations for 2012, other than transaction costs related to the acquisition.
Fourth quarter 2012 net income attributable to Targa Resources Partners was $33.5 million compared to $75.5 million for the fourth quarter of 2011. Net income per diluted limited partner unit was $0.14 in the fourth quarter of 2012 compared to $0.75 for the fourth quarter of 2011. The Partnership reported earnings before interest, income taxes, depreciation and amortization, gains or losses on debt repurchases and redemptions, early debt…
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