$TRGP
Targa Resources Corp.

2024 Q3 Form 10-Q Financial Statement

#000095017024089135 Filed on August 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $3.852B $3.562B
YoY Change -1.15% 4.65%
Cost Of Revenue $2.365B $2.197B
YoY Change -12.08% 6.21%
Gross Profit $1.487B $1.365B
YoY Change 23.22% 2.23%
Gross Profit Margin 38.6% 38.31%
Selling, General & Admin $102.6M $98.30M
YoY Change 14.0% 21.36%
% of Gross Profit 6.9% 7.2%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $355.4M $348.6M
YoY Change 7.27% 4.97%
% of Gross Profit 23.9% 25.55%
Operating Expenses $758.6M $737.4M
YoY Change 8.14% 7.54%
Operating Profit $728.2M $627.2M
YoY Change 44.17% -3.37%
Interest Expense -$184.9M -$176.0M
YoY Change 5.6% 7.84%
% of Operating Profit -25.39% -28.06%
Other Income/Expense, Net -$400.0K -$100.0K
YoY Change 300.0% -95.0%
Pretax Income $545.1M $453.2M
YoY Change 63.74% -6.34%
Income Tax $97.00M $94.30M
% Of Pretax Income 17.79% 20.81%
Net Earnings $387.4M $298.5M
YoY Change 76.09% -9.35%
Net Earnings / Revenue 10.06% 8.38%
Basic Earnings Per Share $1.76 $1.34
Diluted Earnings Per Share $1.75 $1.33
COMMON SHARES
Basic Shares Outstanding 219.1M 221.7M
Diluted Shares Outstanding 220.0M 221.9M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $127.2M $166.4M
YoY Change -9.14% -1.77%
Cash & Equivalents $127.2M $166.4M
Short-Term Investments
Other Short-Term Assets $109.9M $99.90M
YoY Change -20.54% -61.43%
Inventory $414.9M $320.6M
Prepaid Expenses
Receivables $1.301B $1.217B
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.028B $1.867B
YoY Change -5.19% 7.97%
LONG-TERM ASSETS
Property, Plant & Equipment $17.43B $16.89B
YoY Change 13.64% 13.44%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $177.3M $159.8M
YoY Change 28.2% 21.24%
Other Assets $167.1M $165.7M
YoY Change 46.32% -1.49%
Total Long-Term Assets $19.88B $19.40B
YoY Change 10.11% 9.39%
TOTAL ASSETS
Total Short-Term Assets $2.028B $1.867B
Total Long-Term Assets $19.88B $19.40B
Total Assets $21.90B $21.26B
YoY Change 8.49% 9.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.468B $1.687B
YoY Change -7.17% 43.77%
Accrued Expenses $320.7M $243.0M
YoY Change 9.83% -52.37%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $653.3M $601.2M
YoY Change 8.52% 2.59%
Total Short-Term Liabilities $2.627B $2.891B
YoY Change -2.04% 24.56%
LONG-TERM LIABILITIES
Long-Term Debt $13.60B $12.97B
YoY Change 10.42% 9.76%
Other Long-Term Liabilities $340.0M $308.7M
YoY Change -5.08% -19.42%
Total Long-Term Liabilities $340.0M $308.7M
YoY Change -5.08% -97.47%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.627B $2.891B
Total Long-Term Liabilities $340.0M $308.7M
Total Liabilities $2.967B $3.199B
YoY Change -2.4% -80.94%
SHAREHOLDERS EQUITY
Retained Earnings $1.005B $783.9M
YoY Change 228.87% 292.93%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.602B $1.417B
YoY Change 87.23% 102.04%
Treasury Stock Shares
Shareholders Equity $2.574B $2.468B
YoY Change
Total Liabilities & Shareholders Equity $21.90B $21.26B
YoY Change 8.49% 9.26%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $387.4M $298.5M
YoY Change 76.09% -9.35%
Depreciation, Depletion And Amortization $355.4M $348.6M
YoY Change 7.27% 4.97%
Cash From Operating Activities $540.9M $904.5M
YoY Change 32.8% 33.64%
INVESTING ACTIVITIES
Capital Expenditures $828.8M $740.3M
YoY Change 40.07% 23.8%
Acquisitions
YoY Change
Other Investing Activities -$18.50M -$9.500M
YoY Change 146.67% -326.19%
Cash From Investing Activities -$847.3M -$749.8M
YoY Change 41.41% 26.27%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 267.2M -98.20M
YoY Change 64.94% -21.69%
NET CHANGE
Cash From Operating Activities 540.9M 904.5M
Cash From Investing Activities -847.3M -749.8M
Cash From Financing Activities 267.2M -98.20M
Net Change In Cash -39.20M 56.50M
YoY Change 31.1% -233.25%
FREE CASH FLOW
Cash From Operating Activities $540.9M $904.5M
Capital Expenditures $828.8M $740.3M
Free Cash Flow -$287.9M $164.2M
YoY Change 56.13% 108.38%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Entity Central Index Key
EntityCentralIndexKey
0001389170
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Amendment Flag
AmendmentFlag
false
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
CY2024Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
0.0
CY2023Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
0.0
CY2024Q2 us-gaap Derivative Asset Current Statement Of Financial Position Extensible Enumeration
DerivativeAssetCurrentStatementOfFinancialPositionExtensibleEnumeration
http://www.targaresources.com/20240630#DerivativeAssetBeforeEffectsOfMasterNettingArrangementsCurrent
CY2024Q2 us-gaap Derivative Liability Current Statement Of Financial Position Extensible Enumeration
DerivativeLiabilityCurrentStatementOfFinancialPositionExtensibleEnumeration
http://www.targaresources.com/20240630#DerivativeLiabilityBeforeEffectsOfMasterNettingArrangementsCurrent
CY2024Q2 us-gaap Derivative Asset Noncurrent Statement Of Financial Position Extensible Enumeration
DerivativeAssetNoncurrentStatementOfFinancialPositionExtensibleEnumeration
http://www.targaresources.com/20240630#DerivativeAssetBeforeEffectsOfMasterNettingArrangementsNoncurrent
CY2024Q2 us-gaap Derivative Liability Noncurrent Statement Of Financial Position Extensible Enumeration
DerivativeLiabilityNoncurrentStatementOfFinancialPositionExtensibleEnumeration
http://www.targaresources.com/20240630#DerivativeLiabilityBeforeEffectsOfMasterNettingArrangementsNoncurrent
CY2023Q4 us-gaap Derivative Asset Noncurrent Statement Of Financial Position Extensible Enumeration
DerivativeAssetNoncurrentStatementOfFinancialPositionExtensibleEnumeration
http://www.targaresources.com/20240630#DerivativeAssetBeforeEffectsOfMasterNettingArrangementsNoncurrent
CY2023Q4 us-gaap Derivative Liability Current Statement Of Financial Position Extensible Enumeration
DerivativeLiabilityCurrentStatementOfFinancialPositionExtensibleEnumeration
http://www.targaresources.com/20240630#DerivativeLiabilityBeforeEffectsOfMasterNettingArrangementsCurrent
CY2023Q4 us-gaap Derivative Asset Current Statement Of Financial Position Extensible Enumeration
DerivativeAssetCurrentStatementOfFinancialPositionExtensibleEnumeration
http://www.targaresources.com/20240630#DerivativeAssetBeforeEffectsOfMasterNettingArrangementsCurrent
CY2023Q4 us-gaap Derivative Liability Noncurrent Statement Of Financial Position Extensible Enumeration
DerivativeLiabilityNoncurrentStatementOfFinancialPositionExtensibleEnumeration
http://www.targaresources.com/20240630#DerivativeLiabilityBeforeEffectsOfMasterNettingArrangementsNoncurrent
CY2024Q2 us-gaap Derivative Instrument Gain Loss Reclassified From Aoci Into Income Effective Portion Statement Of Income Or Comprehensive Income Extensible Enumeration
DerivativeInstrumentGainLossReclassifiedFromAociIntoIncomeEffectivePortionStatementOfIncomeOrComprehensiveIncomeExtensibleEnumeration
http://fasb.org/us-gaap/2023#Revenues
CY2023Q2 us-gaap Derivative Instrument Gain Loss Reclassified From Aoci Into Income Effective Portion Statement Of Income Or Comprehensive Income Extensible Enumeration
DerivativeInstrumentGainLossReclassifiedFromAociIntoIncomeEffectivePortionStatementOfIncomeOrComprehensiveIncomeExtensibleEnumeration
http://fasb.org/us-gaap/2023#Revenues
us-gaap Derivative Instrument Gain Loss Reclassified From Aoci Into Income Effective Portion Statement Of Income Or Comprehensive Income Extensible Enumeration
DerivativeInstrumentGainLossReclassifiedFromAociIntoIncomeEffectivePortionStatementOfIncomeOrComprehensiveIncomeExtensibleEnumeration
http://fasb.org/us-gaap/2023#Revenues
us-gaap Derivative Instrument Gain Loss Reclassified From Aoci Into Income Effective Portion Statement Of Income Or Comprehensive Income Extensible Enumeration
DerivativeInstrumentGainLossReclassifiedFromAociIntoIncomeEffectivePortionStatementOfIncomeOrComprehensiveIncomeExtensibleEnumeration
http://fasb.org/us-gaap/2023#Revenues
CY2024Q2 us-gaap Derivative Asset Statement Of Financial Position Extensible Enumeration
DerivativeAssetStatementOfFinancialPositionExtensibleEnumeration
http://fasb.org/us-gaap/2023#Assets
CY2023Q4 us-gaap Derivative Asset Statement Of Financial Position Extensible Enumeration
DerivativeAssetStatementOfFinancialPositionExtensibleEnumeration
http://fasb.org/us-gaap/2023#Assets
CY2024Q2 us-gaap Derivative Liability Statement Of Financial Position Extensible Enumeration
DerivativeLiabilityStatementOfFinancialPositionExtensibleEnumeration
http://fasb.org/us-gaap/2023#LiabilitiesCurrent
CY2023Q4 us-gaap Derivative Liability Statement Of Financial Position Extensible Enumeration
DerivativeLiabilityStatementOfFinancialPositionExtensibleEnumeration
http://fasb.org/us-gaap/2023#LiabilitiesCurrent
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2024-06-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-34991
dei Entity Registrant Name
EntityRegistrantName
TARGA RESOURCES CORP.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
20-3701075
dei Entity Address Address Line1
EntityAddressAddressLine1
811 Louisiana Street
dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 2100
dei Entity Address City Or Town
EntityAddressCityOrTown
Houston
dei Entity Address State Or Province
EntityAddressStateOrProvince
TX
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
77002
dei City Area Code
CityAreaCode
713
dei Local Phone Number
LocalPhoneNumber
584-1000
dei Security12b Title
Security12bTitle
Common Stock
dei Trading Symbol
TradingSymbol
TRGP
dei Security Exchange Name
SecurityExchangeName
NYSE
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Small Business
EntitySmallBusiness
false
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Shell Company
EntityShellCompany
false
CY2024Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
219079714
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
166400000
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
141700000
CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
2500000
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
2500000
CY2024Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
1216900000
CY2023Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
1471000000
CY2024Q2 us-gaap Inventory Net
InventoryNet
320600000
CY2023Q4 us-gaap Inventory Net
InventoryNet
371500000
CY2024Q2 trgp Derivative Asset Before Effects Of Master Netting Arrangements Current
DerivativeAssetBeforeEffectsOfMasterNettingArrangementsCurrent
62800000
CY2023Q4 trgp Derivative Asset Before Effects Of Master Netting Arrangements Current
DerivativeAssetBeforeEffectsOfMasterNettingArrangementsCurrent
111900000
CY2024Q2 us-gaap Other Assets Current
OtherAssetsCurrent
99900000
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
98500000
CY2024Q2 us-gaap Assets Current
AssetsCurrent
1866600000
CY2023Q4 us-gaap Assets Current
AssetsCurrent
2194600000
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
16891200000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
15806400000
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2164000000
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2350600000
CY2024Q2 trgp Derivative Asset Before Effects Of Master Netting Arrangements Noncurrent
DerivativeAssetBeforeEffectsOfMasterNettingArrangementsNoncurrent
16900000
CY2023Q4 trgp Derivative Asset Before Effects Of Master Netting Arrangements Noncurrent
DerivativeAssetBeforeEffectsOfMasterNettingArrangementsNoncurrent
33300000
CY2024Q2 us-gaap Equity Method Investments
EquityMethodInvestments
159800000
CY2023Q4 us-gaap Equity Method Investments
EquityMethodInvestments
146300000
CY2024Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
165700000
CY2023Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
140600000
CY2024Q2 us-gaap Assets
Assets
21264200000
CY2023Q4 us-gaap Assets
Assets
20671800000
CY2024Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
1686800000
CY2023Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
1574900000
CY2024Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
243000000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
281700000
CY2024Q2 us-gaap Interest Payable Current
InterestPayableCurrent
247900000
CY2023Q4 us-gaap Interest Payable Current
InterestPayableCurrent
229600000
CY2024Q2 trgp Derivative Liability Before Effects Of Master Netting Arrangements Current
DerivativeLiabilityBeforeEffectsOfMasterNettingArrangementsCurrent
111700000
CY2023Q4 trgp Derivative Liability Before Effects Of Master Netting Arrangements Current
DerivativeLiabilityBeforeEffectsOfMasterNettingArrangementsCurrent
54000000.0
CY2024Q2 trgp Debt Current Net Of Issuance Cost
DebtCurrentNetOfIssuanceCost
601200000
CY2023Q4 trgp Debt Current Net Of Issuance Cost
DebtCurrentNetOfIssuanceCost
620700000
CY2024Q2 us-gaap Liabilities Current
LiabilitiesCurrent
2890600000
CY2023Q4 us-gaap Liabilities Current
LiabilitiesCurrent
2760900000
CY2024Q2 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
12965800000
CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
12333200000
CY2024Q2 trgp Derivative Liability Before Effects Of Master Netting Arrangements Noncurrent
DerivativeLiabilityBeforeEffectsOfMasterNettingArrangementsNoncurrent
65600000
CY2023Q4 trgp Derivative Liability Before Effects Of Master Netting Arrangements Noncurrent
DerivativeLiabilityBeforeEffectsOfMasterNettingArrangementsNoncurrent
16800000
CY2024Q2 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
684500000
CY2023Q4 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
535800000
CY2024Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
308700000
CY2023Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
415100000
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
450000000
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
450000000
CY2024Q2 us-gaap Common Stock Value Outstanding
CommonStockValueOutstanding
200000
CY2023Q4 us-gaap Common Stock Value Outstanding
CommonStockValueOutstanding
200000
CY2024Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
241267840
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
219170473
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
240095699
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
222611259
CY2024Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
3088500000
CY2023Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
3058800000
CY2024Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
783900000
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
492000000
CY2024Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
11400000
CY2023Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
85600000
CY2024Q2 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
22097367
CY2023Q4 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
17484440
CY2024Q2 us-gaap Treasury Stock Value
TreasuryStockValue
1416500000
CY2023Q4 us-gaap Treasury Stock Value
TreasuryStockValue
896900000
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
2467500000
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
2739700000
CY2024Q2 us-gaap Minority Interest
MinorityInterest
1881500000
CY2023Q4 us-gaap Minority Interest
MinorityInterest
1870300000
CY2024Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4349000000
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4610000000
CY2024Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
21264200000
CY2023Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
20671800000
CY2024Q2 us-gaap Revenues
Revenues
3562000000
CY2023Q2 us-gaap Revenues
Revenues
3403700000
us-gaap Revenues
Revenues
8124400000
us-gaap Revenues
Revenues
7924200000
CY2024Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
2197400000
CY2023Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
2068900000
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
5415400000
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
5088000000
CY2024Q2 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
290700000
CY2023Q2 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
272600000
us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
568700000
us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
530700000
CY2024Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
348600000
CY2023Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
332100000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
689100000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
656900000
CY2024Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
98300000
CY2023Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
81000000.0
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
184800000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
163400000
CY2024Q2 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
200000
us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
300000
us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
600000
CY2024Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
627200000
CY2023Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
649100000
us-gaap Operating Income Loss
OperatingIncomeLoss
1266700000
us-gaap Operating Income Loss
OperatingIncomeLoss
1485800000
CY2024Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-176000000.0
CY2023Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-166600000
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-404600000
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-334700000
CY2024Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
2900000
CY2023Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
3400000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
5600000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
3200000
CY2024Q2 us-gaap Gain Loss On Repurchase Of Debt Instrument
GainLossOnRepurchaseOfDebtInstrument
-800000
us-gaap Gain Loss On Repurchase Of Debt Instrument
GainLossOnRepurchaseOfDebtInstrument
-800000
CY2024Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-100000
CY2023Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-2000000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1800000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-4900000
CY2024Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
453200000
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
483900000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
868700000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1149400000
CY2024Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
94300000
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
96400000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
177100000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
206700000
CY2024Q2 us-gaap Profit Loss
ProfitLoss
358900000
CY2023Q2 us-gaap Profit Loss
ProfitLoss
387500000
us-gaap Profit Loss
ProfitLoss
691600000
us-gaap Profit Loss
ProfitLoss
942700000
CY2024Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
60400000
CY2023Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
58200000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
117900000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
116400000
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
298500000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
329300000
us-gaap Net Income Loss
NetIncomeLoss
573700000
us-gaap Net Income Loss
NetIncomeLoss
826300000
trgp Premium On Repurchase Of Noncontrolling Interests Net Of Tax
PremiumOnRepurchaseOfNoncontrollingInterestsNetOfTax
490700000
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
298500000
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
329300000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
573700000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
335600000
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.34
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.44
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.56
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.47
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.33
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.44
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.55
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.46
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
221000000
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
225600000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
221900000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
226000000
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
221900000
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
226800000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
222900000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
227300000
CY2024Q2 us-gaap Profit Loss
ProfitLoss
358900000
CY2023Q2 us-gaap Profit Loss
ProfitLoss
387500000
CY2024Q2 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
-29200000
CY2024Q2 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
-6700000
CY2024Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-22500000
CY2023Q2 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
59800000
CY2023Q2 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
13800000
CY2023Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
46000000
CY2024Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
336400000
CY2023Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
433500000
CY2024Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
60400000
CY2023Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
58200000
CY2024Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
276000000
CY2023Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
375300000
us-gaap Profit Loss
ProfitLoss
691600000
us-gaap Profit Loss
ProfitLoss
942700000
us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
-96200000
us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
-22000000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-74200000
us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
98500000
us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
22400000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
76100000
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
617400000
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
1018800000
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
117900000
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
116400000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
499500000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
902400000
CY2024Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4577600000
CY2024Q2 us-gaap Stock Granted During Period Value Sharebased Compensation Gross
StockGrantedDuringPeriodValueSharebasedCompensationGross
15100000
CY2024Q2 trgp Dividendequivalentrights
Dividendequivalentrights
-1100000
CY2024Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
200000
CY2024Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
355100000
CY2024Q2 trgp Excise Tax On Repurchases Of Common Stock
ExciseTaxOnRepurchasesOfCommonStock
3500000
CY2024Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.75
CY2024Q2 us-gaap Dividends Common Stock
DividendsCommonStock
167600000
CY2024Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
56800000
CY2024Q2 us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
4200000
CY2024Q2 trgp Other Comprehensive Income Loss
OtherComprehensiveIncomeLoss
-22500000
CY2024Q2 us-gaap Profit Loss
ProfitLoss
358900000
CY2024Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4349000000
CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4412200000
CY2023Q2 us-gaap Stock Granted During Period Value Sharebased Compensation Gross
StockGrantedDuringPeriodValueSharebasedCompensationGross
15000000
CY2023Q2 trgp Dividendequivalentrights
Dividendequivalentrights
-1000000
CY2023Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
100000
CY2023Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
149000000
CY2023Q2 trgp Excise Tax On Repurchases Of Common Stock
ExciseTaxOnRepurchasesOfCommonStock
1500000
CY2023Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.5
CY2023Q2 us-gaap Dividends Common Stock
DividendsCommonStock
114200000
CY2023Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
57400000
CY2023Q2 us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
2700000
CY2023Q2 trgp Other Comprehensive Income Loss
OtherComprehensiveIncomeLoss
46000000
CY2023Q2 us-gaap Profit Loss
ProfitLoss
387500000
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4540200000
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4610000000
us-gaap Stock Granted During Period Value Sharebased Compensation Gross
StockGrantedDuringPeriodValueSharebasedCompensationGross
29700000
trgp Dividendequivalentrights
Dividendequivalentrights
-1800000
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
36700000
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
478800000
trgp Excise Tax On Repurchases Of Common Stock
ExciseTaxOnRepurchasesOfCommonStock
4100000
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.25
us-gaap Dividends Common Stock
DividendsCommonStock
280000000
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
112700000
us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
6000000
trgp Other Comprehensive Income Loss
OtherComprehensiveIncomeLoss
-74200000
us-gaap Profit Loss
ProfitLoss
691600000
CY2024Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4349000000
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4982200000
us-gaap Stock Granted During Period Value Sharebased Compensation Gross
StockGrantedDuringPeriodValueSharebasedCompensationGross
30000000
trgp Dividendequivalentrights
Dividendequivalentrights
-2300000
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
33900000
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
201000000
trgp Excise Tax On Repurchases Of Common Stock
ExciseTaxOnRepurchasesOfCommonStock
1500000
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.85
us-gaap Dividends Common Stock
DividendsCommonStock
193500000
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
113500000
us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
2900000
us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
948000000
trgp Other Comprehensive Income Loss
OtherComprehensiveIncomeLoss
76100000
us-gaap Profit Loss
ProfitLoss
942700000
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4540200000
us-gaap Profit Loss
ProfitLoss
691600000
us-gaap Profit Loss
ProfitLoss
942700000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
7200000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
6400000
us-gaap Share Based Compensation
ShareBasedCompensation
29700000
us-gaap Share Based Compensation
ShareBasedCompensation
30000000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
689100000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
656900000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-1200000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
3200000
trgp Write Downs Of Asset
WriteDownsOfAsset
1200000
trgp Write Downs Of Asset
WriteDownsOfAsset
2600000
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
3200000
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
3100000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
170800000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
199000000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
5600000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
3200000
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
11200000
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
4800000
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-68800000
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
327700000
us-gaap Gain Loss On Repurchase Of Debt Instrument
GainLossOnRepurchaseOfDebtInstrument
-800000
us-gaap Gain Loss On Repurchase Of Debt Instrument
GainLossOnRepurchaseOfDebtInstrument
0
us-gaap Increase Decrease In Accounts Receivable And Other Operating Assets
IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets
-302900000
us-gaap Increase Decrease In Accounts Receivable And Other Operating Assets
IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets
-512700000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-60200000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-89200000
trgp Increase Decrease In Account Payable Accrued Liabilities And Other Liabilities
IncreaseDecreaseInAccountPayableAccruedLiabilitiesAndOtherLiabilities
-269700000
trgp Increase Decrease In Account Payable Accrued Liabilities And Other Liabilities
IncreaseDecreaseInAccountPayableAccruedLiabilitiesAndOtherLiabilities
-319900000
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
18300000
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
53200000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1780900000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1846600000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1410100000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1073700000
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
2000000.0
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
1900000
us-gaap Payments For Advance To Affiliate
PaymentsForAdvanceToAffiliate
20100000
us-gaap Payments For Advance To Affiliate
PaymentsForAdvanceToAffiliate
6200000
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
1000000
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
4000000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
500000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
600000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1427700000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1074600000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
290000000
trgp Proceeds From Borrowings Of Commercial Paper Notes
ProceedsFromBorrowingsOfCommercialPaperNotes
36477000000
trgp Proceeds From Borrowings Of Commercial Paper Notes
ProceedsFromBorrowingsOfCommercialPaperNotes
28982800000
us-gaap Repayments Of Commercial Paper
RepaymentsOfCommercialPaper
35349000000
us-gaap Repayments Of Commercial Paper
RepaymentsOfCommercialPaper
29331500000
us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
500000000
us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
0
us-gaap Proceeds From Accounts Receivable Securitization
ProceedsFromAccountsReceivableSecuritization
125000000
us-gaap Proceeds From Accounts Receivable Securitization
ProceedsFromAccountsReceivableSecuritization
51000000
us-gaap Repayments Of Accounts Receivable Securitization
RepaymentsOfAccountsReceivableSecuritization
150000000
us-gaap Repayments Of Accounts Receivable Securitization
RepaymentsOfAccountsReceivableSecuritization
303100000
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
0
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
1717100000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
23200000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
20700000
us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
0
us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
4100000
us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
515500000
us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
234900000
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
6000000
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
2900000
trgp Payments Of Dividends To Noncontrolling Interests
PaymentsOfDividendsToNoncontrollingInterests
113300000
trgp Payments Of Dividends To Noncontrolling Interests
PaymentsOfDividendsToNoncontrollingInterests
99600000
us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
1300000
us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
1091900000
trgp Payments Of Ordinary Dividends Common And Preferred Shareholders
PaymentsOfOrdinaryDividendsCommonAndPreferredShareholders
284200000
trgp Payments Of Ordinary Dividends Common And Preferred Shareholders
PaymentsOfOrdinaryDividendsCommonAndPreferredShareholders
199600000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-328500000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-821600000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
24700000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-49600000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
141700000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
219000000
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
166400000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
169400000
us-gaap Nature Of Operations
NatureOfOperations
<p id="note_1_organization_operations" style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Note 1 — Organizati</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">on and Operations</span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Our Organization</span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Targa Resources Corp. (NYSE: TRGP) is a publicly traded Delaware corporation formed in October 2005. Targa is a leading provider of midstream services and is one of the largest independent infrastructure companies in North America. We own, operate, acquire, and develop a diversified portfolio of complementary domestic midstream infrastructure assets.</span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">In this Quarterly Report, unless the context requires otherwise, references to “we,” “us,” “our,” “the Company,” “Targa” or “TRGP” are intended to mean our consolidated business and operations. TRGP controls the general partner of and owns all of the outstanding common units representing limited partner interests in Targa Resources Partners LP, referred to herein as the “Partnership”. Targa consolidates the Partnership and its subsidiaries under GAAP, and the accompanying consolidated financial statements have been prepared under the rules and regulations of the SEC. Targa’s consolidated financial statements include differences from the consolidated financial statements of the Partnership. The most noteworthy differences are:</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><div class="item-list-element-wrapper" style="margin-left:3.333%;display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:3.333%;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:3.447919145106397%;display:inline-flex;justify-content:flex-start;">•</span><div style="width:100%;display:inline;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">the inclusion of the TRGP senior revolving credit facility and term loan facility;</span></div></div><div class="item-list-element-wrapper" style="margin-left:3.333%;display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:3.333%;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:3.447919145106397%;display:inline-flex;justify-content:flex-start;">•</span><div style="width:100%;display:inline;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">the inclusion of the TRGP senior notes;</span></div></div><div class="item-list-element-wrapper" style="margin-left:3.333%;display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:3.333%;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:3.447919145106397%;display:inline-flex;justify-content:flex-start;">•</span><div style="width:100%;display:inline;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">the inclusion of the TRGP commercial paper notes; and</span></div></div><div class="item-list-element-wrapper" style="margin-left:3.333%;display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:3.333%;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:3.447919145106397%;display:inline-flex;justify-content:flex-start;">•</span><div style="width:100%;display:inline;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">the impacts of TRGP’s treatment as a corporation for U.S. federal income tax purposes.</span></div></div><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Our Operations</span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company is primarily engaged in the business of:</span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><div class="item-list-element-wrapper" style="margin-left:3.333%;display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:3.333%;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:3.447919145106397%;display:inline-flex;justify-content:flex-start;">•</span><div style="width:100%;display:inline;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">gathering, compressing, treating, processing, transporting, and purchasing and selling natural gas;</span></div></div><div class="item-list-element-wrapper" style="margin-left:3.333%;display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:3.333%;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:3.447919145106397%;display:inline-flex;justify-content:flex-start;">•</span><div style="width:100%;display:inline;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">transporting, storing, fractionating, treating, and purchasing and selling NGLs and NGL products, including services to LPG exporters; and</span></div></div><div class="item-list-element-wrapper" style="margin-left:3.333%;display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:3.333%;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:3.447919145106397%;display:inline-flex;justify-content:flex-start;">•</span><div style="width:100%;display:inline;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">gathering, storing, terminaling, and purchasing and selling crude oil.</span></div></div><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">See Note 16 – Segment Information for certain financial information regarding our business segments.</span></p>
CY2024Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
27843000000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
26265200000
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
10951800000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
10458800000
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
16891200000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
15806400000
CY2024Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
4378000000
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
4378000000
CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
2214000000
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
2027400000
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2164000000
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2350600000
CY2024Q2 us-gaap Depreciation
Depreciation
255300000
us-gaap Depreciation
Depreciation
502500000
CY2023Q2 us-gaap Depreciation
Depreciation
236100000
us-gaap Depreciation
Depreciation
464900000
CY2024Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
93300000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
186600000
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
96000000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
192000000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
373200000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
326000000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
279800000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
252200000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
234000000
CY2024Q2 us-gaap Collateralized Financings
CollateralizedFinancings
550000000
CY2023Q4 us-gaap Collateralized Financings
CollateralizedFinancings
575000000
CY2024Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
51200000
CY2023Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
45700000
CY2024Q2 trgp Debt Current Net Of Issuance Cost
DebtCurrentNetOfIssuanceCost
601200000
CY2023Q4 trgp Debt Current Net Of Issuance Cost
DebtCurrentNetOfIssuanceCost
620700000
CY2024Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
12807900000
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
12179900000
CY2024Q2 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
84600000
CY2023Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
90800000
CY2024Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
242500000
CY2023Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
244100000
CY2024Q2 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
12965800000
CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
12333200000
CY2024Q2 us-gaap Long Term Debt
LongTermDebt
13567000000
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
12953900000
CY2024Q2 us-gaap Repayments Of Unsecured Debt
RepaymentsOfUnsecuredDebt
1500000000
CY2024Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-800000
CY2024Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
118300000
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
248800000
CY2024Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
106200000
CY2023Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
103000000.0
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
79700000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
56500000
CY2024Q2 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
4500000
CY2023Q4 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
6800000
CY2024Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
308700000
CY2023Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
415100000
CY2024Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
118300000
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
248800000
CY2024Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
118300000
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
248800000
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
248800000
trgp Contract With Customer Liability Increase From Cash Receipts
ContractWithCustomerLiabilityIncreaseFromCashReceipts
7200000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
8700000
CY2024Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
118300000
CY2020Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
500000000
CY2023Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
1000000000
CY2024Q3 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
1000000000
CY2024Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
2985816
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
4172260
CY2024Q2 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
118.91
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
114.75
CY2024Q2 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
355100000
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
478800000
CY2023Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
2088062
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
2812202
CY2023Q2 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
71.37
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
71.49
CY2023Q2 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
149000000
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
201000000
CY2024Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
291300000
CY2024Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.75
CY2024Q1 trgp Common Stock Annualized Dividends Per Share Declared
CommonStockAnnualizedDividendsPerShareDeclared
3
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
298500000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
329300000
us-gaap Net Income Loss
NetIncomeLoss
573700000
us-gaap Net Income Loss
NetIncomeLoss
826300000
trgp Premium On Repurchase Of Noncontrolling Interests Net Of Tax
PremiumOnRepurchaseOfNoncontrollingInterestsNetOfTax
490700000
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
298500000
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
329300000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
573700000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
335600000
CY2024Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
2300000
CY2023Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
3600000
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
4500000
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
2800000
CY2024Q2 trgp Net Income Loss Allocated To Common Shareholders For Basic Earnings Per Share
NetIncomeLossAllocatedToCommonShareholdersForBasicEarningsPerShare
296200000
CY2023Q2 trgp Net Income Loss Allocated To Common Shareholders For Basic Earnings Per Share
NetIncomeLossAllocatedToCommonShareholdersForBasicEarningsPerShare
325700000
trgp Net Income Loss Allocated To Common Shareholders For Basic Earnings Per Share
NetIncomeLossAllocatedToCommonShareholdersForBasicEarningsPerShare
569200000
trgp Net Income Loss Allocated To Common Shareholders For Basic Earnings Per Share
NetIncomeLossAllocatedToCommonShareholdersForBasicEarningsPerShare
332800000
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
221000000
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
225600000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
221900000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
226000000
CY2024Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
900000
CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1200000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1000000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1300000
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
221900000
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
226800000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
222900000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
227300000
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.34
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.44
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.56
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.47
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.33
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.44
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.55
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.46
CY2024Q2 trgp Loss Contingency Reduction Of Maximum Lossdue To Counterparty Credit Risk By Master Netting Provision
LossContingencyReductionOfMaximumLossdueToCounterpartyCreditRiskByMasterNettingProvision
12800000
CY2024Q2 trgp Derivative Asset Before Effects Of Master Netting Arrangements Current
DerivativeAssetBeforeEffectsOfMasterNettingArrangementsCurrent
62800000
CY2024Q2 trgp Derivative Liability Before Effects Of Master Netting Arrangements Current
DerivativeLiabilityBeforeEffectsOfMasterNettingArrangementsCurrent
111700000
CY2023Q4 trgp Derivative Asset Before Effects Of Master Netting Arrangements Current
DerivativeAssetBeforeEffectsOfMasterNettingArrangementsCurrent
111900000
CY2023Q4 trgp Derivative Liability Before Effects Of Master Netting Arrangements Current
DerivativeLiabilityBeforeEffectsOfMasterNettingArrangementsCurrent
54000000
CY2024Q2 trgp Derivative Asset Before Effects Of Master Netting Arrangements Noncurrent
DerivativeAssetBeforeEffectsOfMasterNettingArrangementsNoncurrent
16900000
CY2024Q2 trgp Derivative Liability Before Effects Of Master Netting Arrangements Noncurrent
DerivativeLiabilityBeforeEffectsOfMasterNettingArrangementsNoncurrent
65600000
CY2023Q4 trgp Derivative Asset Before Effects Of Master Netting Arrangements Noncurrent
DerivativeAssetBeforeEffectsOfMasterNettingArrangementsNoncurrent
33300000
CY2023Q4 trgp Derivative Liability Before Effects Of Master Netting Arrangements Noncurrent
DerivativeLiabilityBeforeEffectsOfMasterNettingArrangementsNoncurrent
16800000
CY2024Q2 trgp Derivative Asset Before Effects Of Master Netting Arrangements
DerivativeAssetBeforeEffectsOfMasterNettingArrangements
79700000
CY2024Q2 trgp Derivative Liability Before Effects Of Master Netting Arrangements
DerivativeLiabilityBeforeEffectsOfMasterNettingArrangements
-177300000
CY2023Q4 trgp Derivative Asset Before Effects Of Master Netting Arrangements
DerivativeAssetBeforeEffectsOfMasterNettingArrangements
145200000
CY2023Q4 trgp Derivative Liability Before Effects Of Master Netting Arrangements
DerivativeLiabilityBeforeEffectsOfMasterNettingArrangements
-70800000
CY2024Q2 us-gaap Derivative Assets Current
DerivativeAssetsCurrent
7200000
CY2024Q2 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
32600000
CY2024Q2 us-gaap Derivative Assets Noncurrent
DerivativeAssetsNoncurrent
1200000
CY2024Q2 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
43200000
CY2024Q2 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
79700000
CY2024Q2 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
177300000
CY2024Q2 trgp Derivative Collateral Obligation Right To Return Reclaim Securities
DerivativeCollateralObligationRightToReturnReclaimSecurities
30200000
CY2024Q2 us-gaap Derivative Assets
DerivativeAssets
8400000
CY2024Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
75800000
CY2023Q4 us-gaap Derivative Assets Current
DerivativeAssetsCurrent
69400000
CY2023Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
7900000
CY2023Q4 us-gaap Derivative Assets Noncurrent
DerivativeAssetsNoncurrent
18600000
CY2023Q4 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
2200000
CY2023Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
145200000
CY2023Q4 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
70800000
CY2023Q4 trgp Derivative Collateral Obligation Right To Return Reclaim Securities
DerivativeCollateralObligationRightToReturnReclaimSecurities
3500000
CY2023Q4 us-gaap Derivative Assets
DerivativeAssets
88000000
CY2023Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
10100000
CY2024Q2 trgp Derivative Collateral Amount
DerivativeCollateralAmount
0
CY2024Q2 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
97600000
CY2024Q2 us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
32200000
CY2023Q2 us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
49800000
us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
29000000
us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
95000000
CY2024Q2 trgp Price Risk Cash Flow Hedge Gain Loss Expected To Reclassify Into Earnings
PriceRiskCashFlowHedgeGainLossExpectedToReclassifyIntoEarnings
7200000
CY2024Q2 us-gaap Price Risk Cash Flow Hedge Unrealized Gain Loss To Be Reclassified During Next12 Months
PriceRiskCashFlowHedgeUnrealizedGainLossToBeReclassifiedDuringNext12Months
7900000
CY2024Q2 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
97600000
CY2024Q2 trgp Derivative Fair Value Of Asset Liability Net If Commodity Price Increases By10 Percent
DerivativeFairValueOfAssetLiabilityNetIfCommodityPriceIncreasesBy10Percent
213800000
CY2024Q2 trgp Derivative Fair Value Of Asset Liability Net If Commodity Price Decreases By10 Percent
DerivativeFairValueOfAssetLiabilityNetIfCommodityPriceDecreasesBy10Percent
-18600000
trgp Number Of Derivative Contract Categorized As Level3
NumberOfDerivativeContractCategorizedAsLevel3
0
CY2023 trgp Number Of Derivative Contract Categorized As Level3
NumberOfDerivativeContractCategorizedAsLevel3
0
trgp Cumulative Interest On Award
CumulativeInterestOnAward
55800000
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2024Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2023Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
7100000
CY2024Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
7100000
us-gaap Interest Paid Net
InterestPaidNet
379000000
us-gaap Interest Paid Net
InterestPaidNet
274800000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
9500000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
8700000
trgp Impact Of Capital Expenditure Accruals On Plant And Equipment
ImpactOfCapitalExpenditureAccrualsOnPlantAndEquipment
160700000
trgp Impact Of Capital Expenditure Accruals On Plant And Equipment
ImpactOfCapitalExpenditureAccrualsOnPlantAndEquipment
13500000
trgp Changes In Accrued Distributions To Noncontrolling Interests
ChangesInAccruedDistributionsToNoncontrollingInterests
-600000
trgp Changes In Accrued Distributions To Noncontrolling Interests
ChangesInAccruedDistributionsToNoncontrollingInterests
13900000
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
33800000
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
17600000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2024Q2 us-gaap Revenues
Revenues
3562000000
CY2023Q2 us-gaap Revenues
Revenues
3403700000
us-gaap Revenues
Revenues
8124400000
us-gaap Revenues
Revenues
7924200000
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3047700000
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2719600000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7036100000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6521500000
CY2024Q2 us-gaap Revenues
Revenues
3562000000
CY2023Q2 us-gaap Revenues
Revenues
3403700000
us-gaap Revenues
Revenues
8124400000
us-gaap Revenues
Revenues
7924200000
CY2024Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
348600000
CY2023Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
332100000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
689100000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
656900000
CY2024Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
98300000
CY2023Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
81000000.0
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
184800000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
163400000
CY2024Q2 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
200000
us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
300000
us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
600000
CY2024Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-176000000.0
CY2023Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-166600000
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-404600000
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-334700000
CY2024Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
2900000
CY2023Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
3400000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
5600000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
3200000
CY2024Q2 us-gaap Gain Loss On Repurchase Of Debt Instrument
GainLossOnRepurchaseOfDebtInstrument
-800000
us-gaap Gain Loss On Repurchase Of Debt Instrument
GainLossOnRepurchaseOfDebtInstrument
-800000
CY2024Q2 trgp Other Operating And Non Operating Income Expense Net
OtherOperatingAndNonOperatingIncomeExpenseNet
100000
CY2023Q2 trgp Other Operating And Non Operating Income Expense Net
OtherOperatingAndNonOperatingIncomeExpenseNet
-2200000
trgp Other Operating And Non Operating Income Expense Net
OtherOperatingAndNonOperatingIncomeExpenseNet
2100000
trgp Other Operating And Non Operating Income Expense Net
OtherOperatingAndNonOperatingIncomeExpenseNet
-5100000
CY2024Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
453200000
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
483900000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
868700000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1149400000

Files In Submission

Name View Source Status
0000950170-24-089135-index-headers.html Edgar Link pending
0000950170-24-089135-index.html Edgar Link pending
0000950170-24-089135.txt Edgar Link pending
0000950170-24-089135-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
img101915401_0.jpg Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R59.htm Edgar Link pending
R6.htm Edgar Link pending
R60.htm Edgar Link pending
R61.htm Edgar Link pending
R62.htm Edgar Link pending
R63.htm Edgar Link pending
R64.htm Edgar Link pending
R65.htm Edgar Link pending
R66.htm Edgar Link pending
R67.htm Edgar Link pending
R68.htm Edgar Link pending
R69.htm Edgar Link pending
R7.htm Edgar Link pending
R70.htm Edgar Link pending
R71.htm Edgar Link pending
R72.htm Edgar Link pending
R73.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
trgp-20240630.htm Edgar Link pending
trgp-20240630.xsd Edgar Link pending
trgp-ex22_1.htm Edgar Link pending
trgp-ex31_1.htm Edgar Link pending
trgp-ex31_2.htm Edgar Link pending
trgp-ex32_1.htm Edgar Link pending
trgp-ex32_2.htm Edgar Link pending
trgp-ex4_3.htm Edgar Link pending
trgp-ex4_4.htm Edgar Link pending
trgp-ex4_5.htm Edgar Link pending
trgp-ex4_6.htm Edgar Link pending
trgp-ex4_7.htm Edgar Link pending
trgp-20240630_htm.xml Edgar Link completed
FilingSummary.xml Edgar Link unprocessable