$TRGP
Targa Resources Corp.

2018 Q1 Form 10-Q Financial Statement

#000156459018010735 Filed on May 03, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1 2016 Q4
Revenue $2.456B $2.113B $2.013B
YoY Change 16.24% 80.41% 22.16%
Cost Of Revenue $1.941B $1.654B $1.544B
YoY Change 17.34% 63.62% 29.17%
Gross Profit $514.6M $458.4M $468.6M
YoY Change 12.26% 6.26% 1.91%
Gross Profit Margin 20.96% 21.7% 23.28%
Selling, General & Admin $56.70M $48.70M $48.90M
YoY Change 16.43% 7.51% 94.05%
% of Gross Profit 11.02% 10.62% 10.44%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $198.1M $191.1M $194.1M
YoY Change 3.66% -1.24% -1.07%
% of Gross Profit 38.5% 41.69% 41.42%
Operating Expenses $428.3M $407.9M $383.2M
YoY Change 5.0% 9.68% 3.85%
Operating Profit $86.30M $50.50M -$97.60M
YoY Change 70.89% 42.25% -52.83%
Interest Expense $16.10M -$63.00M -$70.10M
YoY Change -125.56% 9.19% 85.94%
% of Operating Profit 18.66% -124.75%
Other Income/Expense, Net $100.0K -$5.200M $0.00
YoY Change -101.92% 5100.0% -100.0%
Pretax Income $47.80M -$39.40M -$237.4M
YoY Change -221.32% -1741.67% -3.69%
Income Tax $8.900M $71.10M -$96.70M
% Of Pretax Income 18.62%
Net Earnings $22.90M -$119.3M -$140.6M
YoY Change -119.2% 4318.52% -39.37%
Net Earnings / Revenue 0.93% -5.65% -6.99%
Basic Earnings Per Share -$0.03 -$0.77 -$0.99
Diluted Earnings Per Share -$0.03 -$0.77 -$0.99
COMMON SHARES
Basic Shares Outstanding 218.7M 191.8M
Diluted Shares Outstanding 218.7M 191.8M

Balance Sheet

Concept 2018 Q1 2017 Q1 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $220.0M $80.00M $74.00M
YoY Change 175.0% -30.43% -47.14%
Cash & Equivalents $219.8M $80.00M $73.50M
Short-Term Investments
Other Short-Term Assets $98.00M $48.00M $36.40M
YoY Change 104.17% 66.09% 110.4%
Inventory $97.00M $76.00M $137.7M
Prepaid Expenses
Receivables $746.0M $538.0M $674.6M
Other Receivables $0.00 $70.00M $67.00M
Total Short-Term Assets $1.160B $812.0M $1.007B
YoY Change 42.86% 13.42% 9.43%
LONG-TERM ASSETS
Property, Plant & Equipment $10.84B $9.963B $9.691B
YoY Change 8.82% 2.35% -0.12%
Goodwill $369.0M $210.0M
YoY Change -6.11% -49.64%
Intangibles
YoY Change
Long-Term Investments $313.0M $227.0M $240.8M
YoY Change 37.89% -10.95% -6.99%
Other Assets $61.00M $44.00M $63.50M
YoY Change 38.64% -27.27% -5.79%
Total Long-Term Assets $13.59B $12.84B $11.86B
YoY Change 5.85% 4.54% -3.47%
TOTAL ASSETS
Total Short-Term Assets $1.160B $812.0M $1.007B
Total Long-Term Assets $13.59B $12.84B $11.86B
Total Assets $14.75B $13.65B $12.87B
YoY Change 8.05% 5.03% -2.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $593.0M $512.0M $574.0M
YoY Change 15.82% 58.51% 51.45%
Accrued Expenses $89.00M $73.00M $90.00M
YoY Change 21.92% -10.98% -7.22%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $300.0M $534.9M $275.0M
YoY Change -43.91% 256.6% 25.57%
Total Short-Term Liabilities $1.384B $1.424B $1.168B
YoY Change -2.81% 105.48% 33.46%
LONG-TERM LIABILITIES
Long-Term Debt $5.068B $4.285B $4.606B
YoY Change 18.27% -12.93% -19.46%
Other Long-Term Liabilities $603.0M $625.0M $215.1M
YoY Change -3.52% 301.16% 15.09%
Total Long-Term Liabilities $5.671B $4.910B $4.821B
YoY Change 15.5% -3.29% -18.37%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.384B $1.424B $1.168B
Total Long-Term Liabilities $5.671B $4.910B $4.821B
Total Liabilities $8.439B $7.767B $5.989B
YoY Change 8.65% 34.61% -11.68%
SHAREHOLDERS EQUITY
Retained Earnings -$250.5M -$187.3M
YoY Change 9177.78% -796.28%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $32.70M $32.20M
YoY Change 13.15% 12.2%
Treasury Stock Shares $522.7K $513.9K
Shareholders Equity $6.314B $5.690B $5.249B
YoY Change
Total Liabilities & Shareholders Equity $14.75B $13.65B $12.87B
YoY Change 8.05% 5.44% -2.57%

Cashflow Statement

Concept 2018 Q1 2017 Q1 2016 Q4
OPERATING ACTIVITIES
Net Income $22.90M -$119.3M -$140.6M
YoY Change -119.2% 4318.52% -39.37%
Depreciation, Depletion And Amortization $198.1M $191.1M $194.1M
YoY Change 3.66% -1.24% -1.07%
Cash From Operating Activities $354.4M $318.7M $276.7M
YoY Change 11.2% 32.08% -18.43%
INVESTING ACTIVITIES
Capital Expenditures $595.9M $144.2M -$137.1M
YoY Change 313.25% -24.15% -28.56%
Acquisitions $480.8M
YoY Change
Other Investing Activities -$5.100M -$481.3M $500.0K
YoY Change -98.94% -37123.08% 0.0%
Cash From Investing Activities -$677.3M -$625.5M -$136.6M
YoY Change 8.28% 232.71% -28.63%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $58.10M $524.2M
YoY Change -88.92%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 405.5M 313.3M -207.7M
YoY Change 29.43% -496.58% 87.96%
NET CHANGE
Cash From Operating Activities 354.4M 318.7M 276.7M
Cash From Investing Activities -677.3M -625.5M -136.6M
Cash From Financing Activities 405.5M 313.3M -207.7M
Net Change In Cash 82.60M 6.500M -67.60M
YoY Change 1170.77% -125.29% -281.23%
FREE CASH FLOW
Cash From Operating Activities $354.4M $318.7M $276.7M
Capital Expenditures $595.9M $144.2M -$137.1M
Free Cash Flow -$241.5M $174.5M $413.8M
YoY Change -238.4% 240.82% -22.09%

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<div> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Note 1 &#8212; Organization and Operations</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Our Organization</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Targa Resources Corp. (&#8220;TRC&#8221;) is a publicly traded Delaware corporation formed in October 2005. Our common stock is listed on the New York Stock Exchange under the symbol &#8220;TRGP.&#8221; In this Quarterly Report, unless the context requires otherwise, references to &#8220;we,&#8221; &#8220;us,&#8221; &#8220;our,&#8221; &#8220;the Company&#8221; or &#8220;Targa&#8221; are intended to mean our consolidated business and operations.</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Our Operations</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company is engaged in the business of: </p> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-family:'Times New Roman';font-size:15pt;line-height:11pt;">&#x2022;</p></td> <td valign="top"> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">gathering, compressing, treating, processing and selling natural gas;</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-family:'Times New Roman';font-size:15pt;line-height:11pt;">&#x2022;</p></td> <td valign="top"> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">storing, fractionating, treating, transporting and selling NGLs and NGL products, including services to LPG exporters;</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-family:'Times New Roman';font-size:15pt;line-height:11pt;">&#x2022;</p></td> <td valign="top"> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">gathering, storing, terminaling and selling crude oil; and </p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-family:'Times New Roman';font-size:15pt;line-height:11pt;">&#x2022;</p></td> <td valign="top"> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">storing, terminaling and selling refined petroleum products.</p></td></tr></table></div> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">See Note 22 &#8211; Segment Information for certain financial information regarding our business segments.</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;;font-size:4.5pt;">&nbsp;</p></div>
CY2018Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2736600000
CY2017Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2736600000
CY2018Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
616500000
CY2017Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
570800000
CY2018Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
182600000
CY2018Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
171600000
CY2018Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
159400000
CY2018Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
149500000
CY2018Q1 us-gaap Gas Purchase Payable Current
GasPurchasePayableCurrent
592800000
CY2017Q4 us-gaap Gas Purchase Payable Current
GasPurchasePayableCurrent
711500000
CY2018Q1 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
256900000
CY2017Q4 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
289700000
CY2018Q1 us-gaap Interest Payable Current
InterestPayableCurrent
63900000
CY2017Q4 us-gaap Interest Payable Current
InterestPayableCurrent
54400000
CY2018Q1 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
29500000
CY2017Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
27100000
CY2018Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
25200000
CY2017Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
52800000
CY2018Q1 trgp Preferred Stock Dividends Payable Current
PreferredStockDividendsPayableCurrent
22900000
CY2018Q1 trgp Fractionation Related Infrastructure Funded And Owned Percentage
FractionationRelatedInfrastructureFundedAndOwnedPercentage
1.00
CY2018Q1 us-gaap Energy Related Inventory
EnergyRelatedInventory
79600000
CY2017Q4 us-gaap Energy Related Inventory
EnergyRelatedInventory
191600000
CY2018Q1 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
17100000
CY2017Q4 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
12900000
CY2017Q4 trgp Preferred Stock Dividends Payable Current
PreferredStockDividendsPayableCurrent
22900000
CY2018Q1 trgp Derivative Fair Value Of Asset Liability Net If Commodity Price Decreases By10 Percent
DerivativeFairValueOfAssetLiabilityNetIfCommodityPriceDecreasesBy10Percent
108800000
CY2018Q1 trgp Number Of Natural Gas Basis Swaps Categorized As Level3
NumberOfNaturalGasBasisSwapsCategorizedAsLevel3
12
CY2018Q1 trgp Fixed Consideration Related To Unsatisfied Performance Obligations Expected To Be Recognized In Remainder Of Fiscal Year
FixedConsiderationRelatedToUnsatisfiedPerformanceObligationsExpectedToBeRecognizedInRemainderOfFiscalYear
322100000
CY2018Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
39500000
CY2017Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
21700000
CY2018Q1 trgp Outstanding Checks
OutstandingChecks
56900000
CY2017Q4 trgp Outstanding Checks
OutstandingChecks
50400000
CY2018Q1 us-gaap Collateralized Financings
CollateralizedFinancings
300000000
CY2017Q4 us-gaap Collateralized Financings
CollateralizedFinancings
350000000
CY2018Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
5093000000
CY2017Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
4733000000
CY2018Q1 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
28800000
CY2017Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
30000000
CY2018Q1 us-gaap Long Term Debt
LongTermDebt
5364200000
CY2017Q4 us-gaap Long Term Debt
LongTermDebt
5053000000
CY2018Q1 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
25900000
CY2017Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
27200000
CY2018Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
53000000
CY2017Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
50800000
CY2018Q1 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
4200000
CY2017Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
76200000
CY2018Q1 us-gaap Deferred Revenue
DeferredRevenue
135200000
CY2017Q4 us-gaap Deferred Revenue
DeferredRevenue
136200000
CY2018Q1 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
23700000
CY2017Q4 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
24500000
CY2018Q1 us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
2100000
CY2018Q1 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
800000
CY2018Q1 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
1000000
CY2016Q1 trgp Number Of Tranches
NumberOfTranches
2
CY2018Q1 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
22900000
CY2018Q1 us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2018-05-14
CY2018Q1 us-gaap Partners Capital Account Contributions
PartnersCapitalAccountContributions
60000000
CY2018Q1 us-gaap Limited Liability Company Llc Or Limited Partnership Lp Managing Member Or General Partner Ownership Interest
LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest
0.02
CY2015Q4 us-gaap Preferred Units Issued
PreferredUnitsIssued
5000000
CY2018Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
29900000
CY2017Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
29000000
CY2018Q1 trgp Derivative Asset Before Effects Of Master Netting Arrangements
DerivativeAssetBeforeEffectsOfMasterNettingArrangements
104600000
CY2017Q4 trgp Derivative Asset Before Effects Of Master Netting Arrangements
DerivativeAssetBeforeEffectsOfMasterNettingArrangements
61100000
CY2018Q1 trgp Derivative Liability Before Effects Of Master Netting Arrangements
DerivativeLiabilityBeforeEffectsOfMasterNettingArrangements
71700000
CY2017Q4 trgp Derivative Liability Before Effects Of Master Netting Arrangements
DerivativeLiabilityBeforeEffectsOfMasterNettingArrangements
99300000
CY2018Q1 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
104600000
CY2017Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
61100000
CY2018Q1 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
71700000
CY2017Q4 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
99300000
CY2018Q1 us-gaap Derivative Liabilities
DerivativeLiabilities
33600000
CY2017Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
43900000
CY2018Q1 us-gaap Derivative Assets
DerivativeAssets
72300000
CY2017Q4 us-gaap Derivative Assets
DerivativeAssets
28600000
CY2018Q1 trgp Derivative Collateral Obligation Right To Return Reclaim Securities
DerivativeCollateralObligationRightToReturnReclaimSecurities
5800000
CY2017Q4 trgp Derivative Collateral Obligation Right To Return Reclaim Securities
DerivativeCollateralObligationRightToReturnReclaimSecurities
22900000
CY2018Q1 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
32900000
CY2018Q1 trgp Price Risk Cash Flow Hedge Gain Loss Expected To Reclassify Into Earnings
PriceRiskCashFlowHedgeGainLossExpectedToReclassifyIntoEarnings
45200000
CY2018Q1 us-gaap Price Risk Cash Flow Hedge Unrealized Gain Loss To Be Reclassified During Next12 Months
PriceRiskCashFlowHedgeUnrealizedGainLossToBeReclassifiedDuringNext12Months
17900000
CY2018Q1 trgp Derivative Fair Value Of Asset Liability Net If Commodity Price Increases By10 Percent
DerivativeFairValueOfAssetLiabilityNetIfCommodityPriceIncreasesBy10Percent
42900000
CY2018Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2018Q1 trgp Operating Margin
OperatingMargin
341400000
CY2018Q1 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
558000000
CY2017Q1 trgp Operating Margin
OperatingMargin
306500000
CY2017Q1 us-gaap Assets
Assets
13653800000
CY2017Q1 us-gaap Goodwill
Goodwill
369000000
CY2017Q1 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
174600000
CY2018Q1 trgp Oil And Gas Sales Revenue From Non Customers
OilAndGasSalesRevenueFromNonCustomers
-38800000
CY2017Q1 trgp Oil And Gas Sales Revenue From Non Customers
OilAndGasSalesRevenueFromNonCustomers
-6700000
CY2018Q1 trgp Other Operating And Non Operating Income Expense Net
OtherOperatingAndNonOperatingIncomeExpenseNet
-54900000
CY2017Q1 trgp Other Operating And Non Operating Income Expense Net
OtherOperatingAndNonOperatingIncomeExpenseNet
-43100000
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
CY2018Q1 trgp Fixed Consideration Related To Unsatisfied Performance Obligations Expected To Be Recognized In Second Year
FixedConsiderationRelatedToUnsatisfiedPerformanceObligationsExpectedToBeRecognizedInSecondYear
368100000
CY2018Q1 trgp Fixed Consideration Related To Unsatisfied Performance Obligations Expected To Be Recognized In Third Year And Thereafter
FixedConsiderationRelatedToUnsatisfiedPerformanceObligationsExpectedToBeRecognizedInThirdYearAndThereafter
1400000000
CY2018Q1 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
300000
CY2017Q1 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
100000
CY2018Q1 us-gaap Other Expenses
OtherExpenses
100000
CY2018Q1 us-gaap Interest Paid Net
InterestPaidNet
42800000
CY2017Q1 us-gaap Interest Paid Net
InterestPaidNet
56100000
CY2017Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-200000
CY2018Q1 trgp Non Cash Adjustment To Line Fill
NonCashAdjustmentToLineFill
1700000
CY2017Q1 trgp Non Cash Adjustment To Line Fill
NonCashAdjustmentToLineFill
8300000
CY2018Q1 trgp Impact Of Capital Expenditure Accruals On Property Plant And Equipment
ImpactOfCapitalExpenditureAccrualsOnPropertyPlantAndEquipment
-22300000
CY2017Q1 trgp Impact Of Capital Expenditure Accruals On Property Plant And Equipment
ImpactOfCapitalExpenditureAccrualsOnPropertyPlantAndEquipment
30000000
CY2018Q1 trgp Transfers From Materials And Supplies To Property Plant And Equipment
TransfersFromMaterialsAndSuppliesToPropertyPlantAndEquipment
400000
CY2017Q1 trgp Transfers From Materials And Supplies To Property Plant And Equipment
TransfersFromMaterialsAndSuppliesToPropertyPlantAndEquipment
400000
CY2018Q1 trgp Contribution Of Property Plant And Equipment To Investment In Unconsolidated Affiliates
ContributionOfPropertyPlantAndEquipmentToInvestmentInUnconsolidatedAffiliates
16000000
CY2017Q1 trgp Contribution Of Property Plant And Equipment To Investment In Unconsolidated Affiliates
ContributionOfPropertyPlantAndEquipmentToInvestmentInUnconsolidatedAffiliates
1000000
CY2017Q1 us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
1700000
CY2018Q1 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
3300000
CY2017Q1 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
2200000
CY2017Q1 trgp Receivables From Equity Offerings
ReceivablesFromEquityOfferings
19600000
CY2018Q1 us-gaap New Accounting Pronouncement Or Change In Accounting Principle Effect Of Adoption Quantification
NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfAdoptionQuantification
5200000
CY2018Q1 trgp Noncash Noncontrolling Interest Increase From Business Combination
NoncashNoncontrollingInterestIncreaseFromBusinessCombination
1200000
CY2018Q1 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
9600000
CY2017Q1 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
1700000
CY2018Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2018Q1 trgp Tax Cuts And Jobs Act Of2017 Incomplete Accounting Tax Deductions For Interest Expense To Adjusted Taxable Income
TaxCutsAndJobsActOf2017IncompleteAccountingTaxDeductionsForInterestExpenseToAdjustedTaxableIncome
0.30
CY2018Q1 trgp Tax Cuts And Jobs Act Of2017 Incomplete Accounting Percentage Of Net Operating Losses
TaxCutsAndJobsActOf2017IncompleteAccountingPercentageOfNetOperatingLosses
0.80
CY2018Q1 trgp Tax Cuts And Jobs Act Of2017 Incomplete Accounting Change In Tax Rate Deferred Tax Liability Provisional Income Tax Expense Benefit
TaxCutsAndJobsActOf2017IncompleteAccountingChangeInTaxRateDeferredTaxLiabilityProvisionalIncomeTaxExpenseBenefit
0

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