Question-and-Answer Session
Operator
Thank you, sir. We will now begin the question-and-answer session. (Operator instructions) And our first question comes from the line of Chris Holt with Barclays Capital. Please go ahead.
Chris Holt – Barclays Capital
Hi, good afternoon guys.
Rene Joyce
Good afternoon, Chris
Chris Holt – Barclays Capital
Obviously, you have a lot of liquidity on hand here at the end of the quarter with cash on the balance sheet as well as credit facility availability. What are your thoughts on kind of the uses for that cash? Do you repay term loan or would you save that for potential acquisitions? Can you just talk about that a little bit?
Jeff McParland
Chris, this is Jeff. How are you? Generally, the leverage position and cash position reflects the stated deleveraging strategy we've had at Targa Resources Inc. from the get go, namely the drop down assets of the Partnership and delever over time. That really remains our broader strategy; specific uses of components or refinancing are sub pieces of that broader strategy. So, we are focused primarily on the over time drop of assets to the Partnership.
Chris Holt – Barclays Capital
Okay, thanks.
Operator
(Operator instructions) And Mr. Joyce, I am showing there are no more further questions at this time.
Rene Joyce
Thank you, operator. To the extent anyone has follow-up questions, please feel free to contact Anthony or any of us here at Targa. Thank you again for your time this morning and we look forward to our next conference call.
Operator
Ladies and gentlemen, this concludes the Targa Resources Inc. conference call. You may now disconnect. Thank you for using ACT Conferencing.
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