$TRGP
Targa Resources Corp.

2018 Q2 Form 10-Q Financial Statement

#000156459018020681 Filed on August 09, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q4 2017 Q2
Revenue $2.444B $2.703B $1.868B
YoY Change 30.88% 34.3% 42.26%
Cost Of Revenue $1.905B $2.168B $1.421B
YoY Change 34.12% 40.43% 24.05%
Gross Profit $539.1M $534.6M $447.1M
YoY Change 20.58% 14.08% 1.98%
Gross Profit Margin 22.05% 19.78% 23.94%
Selling, General & Admin $57.00M $53.90M $51.00M
YoY Change 11.76% 10.22% 8.51%
% of Gross Profit 10.57% 10.08% 11.41%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $202.6M $206.7M $203.5M
YoY Change -0.44% 6.49% 9.35%
% of Gross Profit 37.58% 38.66% 45.52%
Operating Expenses $383.7M $421.0M $409.9M
YoY Change -6.39% 9.86% 10.16%
Operating Profit $155.4M $113.5M $37.20M
YoY Change 317.74% -216.29% -43.89%
Interest Expense -$62.00M -$52.90M -$66.30M
YoY Change -6.49% -24.54% -12.53%
% of Operating Profit -39.9% -46.61% -178.23%
Other Income/Expense, Net $60.60M -$25.90M $4.400M
YoY Change 1277.27% -4500.0%
Pretax Income $153.9M $34.40M -$35.40M
YoY Change -534.75% -114.49% 174.42%
Income Tax $32.80M $4.700M -$106.0M
% Of Pretax Income 21.31% 13.66%
Net Earnings $109.1M $299.2M $57.60M
YoY Change 89.41% -312.8% -348.28%
Net Earnings / Revenue 4.46% 11.07% 3.08%
Basic Earnings Per Share $0.36 $1.17 $0.14
Diluted Earnings Per Share $0.35 $1.05 $0.14
COMMON SHARES
Basic Shares Outstanding 221.1M 203.7M
Diluted Shares Outstanding 222.8M 205.0M

Balance Sheet

Concept 2018 Q2 2017 Q4 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $282.0M $137.0M $99.00M
YoY Change 184.85% 85.14% -42.11%
Cash & Equivalents $281.6M $137.2M $98.70M
Short-Term Investments
Other Short-Term Assets $101.0M $62.70M $66.00M
YoY Change 53.03% 72.25% -22.35%
Inventory $181.0M $204.5M $198.0M
Prepaid Expenses
Receivables $867.0M $827.6M $550.0M
Other Receivables $0.00 $0.00 $2.000M
Total Short-Term Assets $1.432B $1.270B $914.9M
YoY Change 56.52% 26.13% 6.76%
LONG-TERM ASSETS
Property, Plant & Equipment $11.42B $10.43B $10.23B
YoY Change 11.68% 7.63% 5.4%
Goodwill $256.6M $256.6M
YoY Change 22.19% -34.71%
Intangibles
YoY Change
Long-Term Investments $364.0M $221.6M $218.4M
YoY Change 66.67% -7.97% -12.64%
Other Assets $49.00M $21.50M $19.70M
YoY Change 148.73% -66.14% -72.64%
Total Long-Term Assets $14.16B $13.12B $13.00B
YoY Change 8.92% 10.57% 7.09%
TOTAL ASSETS
Total Short-Term Assets $1.432B $1.270B $914.9M
Total Long-Term Assets $14.16B $13.12B $13.00B
Total Assets $15.60B $14.39B $13.92B
YoY Change 12.05% 11.79% 7.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $730.0M $712.0M $483.0M
YoY Change 51.14% 24.04% 9.77%
Accrued Expenses $129.0M $107.0M $84.00M
YoY Change 53.57% 18.89% -10.64%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $180.0M $350.0M $500.0M
YoY Change -64.0% 27.27% 122.22%
Total Short-Term Liabilities $1.953B $1.617B $1.396B
YoY Change 39.94% 38.49% 48.78%
LONG-TERM LIABILITIES
Long-Term Debt $5.394B $4.779B $3.938B
YoY Change 36.99% 3.76% -18.76%
Other Long-Term Liabilities $249.0M $541.0M $588.4M
YoY Change -57.68% 151.51% 407.24%
Total Long-Term Liabilities $5.643B $5.320B $4.526B
YoY Change 24.68% 10.35% -8.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.953B $1.617B $1.396B
Total Long-Term Liabilities $5.643B $5.320B $4.526B
Total Liabilities $9.148B $8.012B $5.922B
YoY Change 54.49% 33.79% -21.52%
SHAREHOLDERS EQUITY
Retained Earnings -$77.20M -$192.9M
YoY Change -58.78%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $35.60M $34.30M
YoY Change 10.56%
Treasury Stock Shares $640.0K $585.6K
Shareholders Equity $6.448B $6.160B $6.461B
YoY Change
Total Liabilities & Shareholders Equity $15.60B $14.39B $13.92B
YoY Change 12.05% 11.79% 7.06%

Cashflow Statement

Concept 2018 Q2 2017 Q4 2017 Q2
OPERATING ACTIVITIES
Net Income $109.1M $299.2M $57.60M
YoY Change 89.41% -312.8% -348.28%
Depreciation, Depletion And Amortization $202.6M $206.7M $203.5M
YoY Change -0.44% 6.49% 9.35%
Cash From Operating Activities $189.3M $407.6M $145.8M
YoY Change 29.84% 47.31% -32.56%
INVESTING ACTIVITIES
Capital Expenditures -$566.6M -$430.9M -$383.4M
YoY Change 47.78% 214.3% 226.02%
Acquisitions
YoY Change
Other Investing Activities $7.000M -$4.300M -$99.70M
YoY Change -107.02% -960.0% -25025.0%
Cash From Investing Activities -$559.6M -$435.2M -$483.1M
YoY Change 15.84% 218.59% 312.2%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $777.3M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 432.1M 50.70M 356.0M
YoY Change 21.38% -124.41% -935.68%
NET CHANGE
Cash From Operating Activities 189.3M 407.6M 145.8M
Cash From Investing Activities -559.6M -435.2M -483.1M
Cash From Financing Activities 432.1M 50.70M 356.0M
Net Change In Cash 61.80M 23.10M 18.70M
YoY Change 230.48% -134.17% -66.84%
FREE CASH FLOW
Cash From Operating Activities $189.3M $407.6M $145.8M
Capital Expenditures -$566.6M -$430.9M -$383.4M
Free Cash Flow $755.9M $838.5M $529.2M
YoY Change 42.84% 102.63% 58.54%

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us-gaap Nature Of Operations
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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>
CY2018Q2 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
48100000
CY2018Q2 us-gaap Gas Purchase Payable Current
GasPurchasePayableCurrent
729500000
CY2017Q4 us-gaap Gas Purchase Payable Current
GasPurchasePayableCurrent
711500000
CY2018Q2 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
382500000
CY2017Q4 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
289700000
CY2018Q2 us-gaap Interest Payable Current
InterestPayableCurrent
85900000
CY2017Q4 us-gaap Interest Payable Current
InterestPayableCurrent
54400000
CY2018Q2 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
58500000
CY2017Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
27100000
CY2018Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
42700000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
91500000
CY2018Q2 trgp Selling Price Of Inland Marine Barge Business
SellingPriceOfInlandMarineBargeBusiness
69300000
CY2018Q1 trgp Fractionation Related Infrastructure Funded And Owned Percentage
FractionationRelatedInfrastructureFundedAndOwnedPercentage
1.00
CY2018Q2 us-gaap Energy Related Inventory
EnergyRelatedInventory
155600000
CY2017Q4 us-gaap Energy Related Inventory
EnergyRelatedInventory
191600000
CY2018Q2 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
25800000
CY2017Q4 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
12900000
CY2018Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2736600000
CY2017Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2736600000
CY2018Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
662300000
CY2017Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
570800000
CY2018Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
182600000
CY2018Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
171600000
CY2018Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
159400000
CY2018Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
149500000
CY2018Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
141200000
CY2017Q4 us-gaap Deferred Revenue
DeferredRevenue
136200000
CY2018Q2 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
26200000
CY2017Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
52800000
CY2017Q4 trgp Derivative Collateral Obligation Right To Return Reclaim Securities
DerivativeCollateralObligationRightToReturnReclaimSecurities
22900000
CY2017Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
76200000
CY2018Q2 us-gaap Deferred Revenue
DeferredRevenue
134300000
CY2018Q2 trgp Preferred Stock Dividends Payable Current
PreferredStockDividendsPayableCurrent
22900000
CY2017Q4 trgp Preferred Stock Dividends Payable Current
PreferredStockDividendsPayableCurrent
22900000
CY2018Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
35700000
CY2017Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
21700000
CY2018Q2 trgp Outstanding Checks
OutstandingChecks
60800000
CY2017Q4 trgp Outstanding Checks
OutstandingChecks
50400000
CY2018Q2 us-gaap Collateralized Financings
CollateralizedFinancings
180000000
CY2017Q4 us-gaap Collateralized Financings
CollateralizedFinancings
350000000
CY2018Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
5428000000
CY2017Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
4733000000
CY2018Q2 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
35500000
CY2017Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
30000000
CY2018Q2 us-gaap Long Term Debt
LongTermDebt
5572500000
CY2017Q4 us-gaap Long Term Debt
LongTermDebt
5053000000
CY2018Q2 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
71500000
CY2017Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
27200000
CY2018Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
53100000
CY2017Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
50800000
CY2018Q2 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
1200000
CY2017Q4 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
24500000
us-gaap Deferred Revenue Additions
DeferredRevenueAdditions
100000
us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
2000000
trgp Number Of Tranches
NumberOfTranches
2
CY2018Q2 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
22900000
us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
45800000
us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
23.75
us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2018-08-14
us-gaap Partners Capital Account Contributions
PartnersCapitalAccountContributions
80100000
us-gaap Limited Liability Company Llc Or Limited Partnership Lp Members Or Limited Partners Ownership Interest
LimitedLiabilityCompanyLLCOrLimitedPartnershipLPMembersOrLimitedPartnersOwnershipInterest
0.98
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
CY2018Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
30100000
CY2017Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
29200000
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
59900000
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
58300000
CY2018Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1700000
CY2017Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1300000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1600000
CY2018Q2 trgp Derivative Asset Before Effects Of Master Netting Arrangements
DerivativeAssetBeforeEffectsOfMasterNettingArrangements
75900000
CY2017Q4 trgp Derivative Asset Before Effects Of Master Netting Arrangements
DerivativeAssetBeforeEffectsOfMasterNettingArrangements
61100000
CY2018Q2 trgp Derivative Liability Before Effects Of Master Netting Arrangements
DerivativeLiabilityBeforeEffectsOfMasterNettingArrangements
138700000
CY2017Q4 trgp Derivative Liability Before Effects Of Master Netting Arrangements
DerivativeLiabilityBeforeEffectsOfMasterNettingArrangements
99300000
CY2017Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
61100000
CY2017Q4 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
99300000
CY2018Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
76600000
CY2017Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
43900000
CY2018Q2 us-gaap Derivative Assets
DerivativeAssets
28700000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2018Q2 trgp Other Operating And Non Operating Income Expense Net
OtherOperatingAndNonOperatingIncomeExpenseNet
46300000
CY2018Q2 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
-62800000
CY2017Q2 trgp Other Operating And Non Operating Income Expense Net
OtherOperatingAndNonOperatingIncomeExpenseNet
-12900000
CY2018Q2 trgp Price Risk Cash Flow Hedge Gain Loss Expected To Reclassify Into Earnings
PriceRiskCashFlowHedgeGainLossExpectedToReclassifyIntoEarnings
51100000
CY2018Q2 us-gaap Price Risk Cash Flow Hedge Unrealized Gain Loss To Be Reclassified During Next12 Months
PriceRiskCashFlowHedgeUnrealizedGainLossToBeReclassifiedDuringNext12Months
39200000
trgp Other Operating And Non Operating Income Expense Net
OtherOperatingAndNonOperatingIncomeExpenseNet
47400000
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
CY2018Q2 trgp Derivative Fair Value Of Asset Liability Net If Commodity Price Increases By10 Percent
DerivativeFairValueOfAssetLiabilityNetIfCommodityPriceIncreasesBy10Percent
151500000
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
trgp Tax Cuts And Jobs Act Of2017 Incomplete Accounting Tax Deductions For Interest Expense To Adjusted Taxable Income
TaxCutsAndJobsActOf2017IncompleteAccountingTaxDeductionsForInterestExpenseToAdjustedTaxableIncome
0.30
CY2018Q2 trgp Tax Cuts And Jobs Act Of2017 Incomplete Accounting Percentage Of Net Operating Losses
TaxCutsAndJobsActOf2017IncompleteAccountingPercentageOfNetOperatingLosses
0.80
CY2018Q2 trgp Derivative Fair Value Of Asset Liability Net If Commodity Price Decreases By10 Percent
DerivativeFairValueOfAssetLiabilityNetIfCommodityPriceDecreasesBy10Percent
25900000
CY2018Q2 trgp Number Of Natural Gas Basis Swaps Categorized As Level3
NumberOfNaturalGasBasisSwapsCategorizedAsLevel3
21
CY2018Q2 us-gaap Gain Loss On Sale Of Property
GainLossOnSaleOfProperty
46700000
CY2018Q2 trgp Operating Margin
OperatingMargin
368600000
trgp Tax Cuts And Jobs Act Of2017 Incomplete Accounting Change In Tax Rate Deferred Tax Liability Provisional Income Tax Expense Benefit
TaxCutsAndJobsActOf2017IncompleteAccountingChangeInTaxRateDeferredTaxLiabilityProvisionalIncomeTaxExpenseBenefit
0
CY2017Q2 us-gaap Gain Loss On Sale Of Property
GainLossOnSaleOfProperty
-100000
CY2018Q2 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
300000
CY2018Q2 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
734800000
CY2017Q2 trgp Operating Margin
OperatingMargin
291900000
CY2017Q2 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
200000
us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
600000
CY2017Q2 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
434500000
trgp Operating Margin
OperatingMargin
710100000
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
1292700000
CY2017Q4 us-gaap Derivative Assets
DerivativeAssets
28600000
trgp Accrued Tax Withholding Obligations
AccruedTaxWithholdingObligations
1500000
us-gaap New Accounting Pronouncement Or Change In Accounting Principle Effect Of Adoption Quantification
NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfAdoptionQuantification
5200000
trgp Accrued Distribution To Noncontrolling Interests
AccruedDistributionToNoncontrollingInterests
300000
trgp Noncash Noncontrolling Interest Increase From Business Combination
NoncashNoncontrollingInterestIncreaseFromBusinessCombination
1100000
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
20800000
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
4100000
us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
300000
us-gaap Other Expenses
OtherExpenses
100000
us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
48100000
us-gaap Interest Paid Net
InterestPaidNet
83900000
us-gaap Interest Paid Net
InterestPaidNet
109200000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-67800000
trgp Non Cash Adjustment To Line Fill
NonCashAdjustmentToLineFill
26800000
trgp Non Cash Adjustment To Line Fill
NonCashAdjustmentToLineFill
8300000
trgp Transfers From Materials And Supplies To Property Plant And Equipment
TransfersFromMaterialsAndSuppliesToPropertyPlantAndEquipment
1000000
trgp Transfers From Materials And Supplies To Property Plant And Equipment
TransfersFromMaterialsAndSuppliesToPropertyPlantAndEquipment
1500000
trgp Contribution Of Property Plant And Equipment To Investment In Unconsolidated Affiliates
ContributionOfPropertyPlantAndEquipmentToInvestmentInUnconsolidatedAffiliates
16000000
trgp Contribution Of Property Plant And Equipment To Investment In Unconsolidated Affiliates
ContributionOfPropertyPlantAndEquipmentToInvestmentInUnconsolidatedAffiliates
1000000
us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
1200000
us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
3100000
CY2018Q2 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
6500000
CY2017Q2 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
4600000
trgp Accrued Tax Withholding Obligations
AccruedTaxWithholdingObligations
2200000
trgp Operating Margin
OperatingMargin
598300000
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
609100000
CY2018Q2 trgp Oil And Gas Sales Revenue From Non Customers
OilAndGasSalesRevenueFromNonCustomers
-9900000
CY2017Q2 trgp Oil And Gas Sales Revenue From Non Customers
OilAndGasSalesRevenueFromNonCustomers
5400000
trgp Oil And Gas Sales Revenue From Non Customers
OilAndGasSalesRevenueFromNonCustomers
-48700000
trgp Oil And Gas Sales Revenue From Non Customers
OilAndGasSalesRevenueFromNonCustomers
-1300000

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