$TRGP
Targa Resources Corp.

2019 Q3 Form 10-Q Financial Statement

#000156459019041853 Filed on November 07, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2018 Q4 2018 Q3
Revenue $1.903B $2.598B $2.986B
YoY Change -36.29% -3.89% 59.27%
Cost Of Revenue $1.328B $2.009B $2.384B
YoY Change -44.28% -7.37% 43.32%
Gross Profit $574.4M $589.2M $602.9M
YoY Change -4.73% 10.21% 28.63%
Gross Profit Margin 30.19% 22.68% 20.19%
Selling, General & Admin $72.60M $80.00M $63.20M
YoY Change 14.87% 48.42% 26.65%
% of Gross Profit 12.64% 13.58% 10.48%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $244.3M $208.8M $206.3M
YoY Change 18.42% 1.02% -0.96%
% of Gross Profit 42.53% 35.44% 34.22%
Operating Expenses $532.8M $459.9M $526.2M
YoY Change 1.25% 9.24% 27.01%
Operating Profit $41.60M -$80.90M $76.70M
YoY Change -45.76% -171.28% -123.7%
Interest Expense -$89.10M -$60.70M -$78.20M
YoY Change 13.94% 14.74% 39.39%
% of Operating Profit -214.18% -101.96%
Other Income/Expense, Net $0.00 $21.00M $300.0K
YoY Change -100.0% -181.08% 50.0%
Pretax Income $28.30M -$120.4M -$15.10M
YoY Change -287.42% -450.0% -94.02%
Income Tax -$3.800M -$32.20M -$3.900M
% Of Pretax Income -13.43%
Net Earnings -$47.30M -$88.40M -$23.70M
YoY Change 99.58% -129.55% -85.86%
Net Earnings / Revenue -2.49% -3.4% -0.79%
Basic Earnings Per Share -$0.34 -$0.60 -$0.24
Diluted Earnings Per Share -$0.34 -$0.60 -$0.24
COMMON SHARES
Basic Shares Outstanding 232.7M 229.3M 226.5M
Diluted Shares Outstanding 232.7M 226.5M

Balance Sheet

Concept 2019 Q3 2018 Q4 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $326.0M $232.0M $203.0M
YoY Change 60.59% 69.34% 78.07%
Cash & Equivalents $326.3M $232.1M $203.2M
Short-Term Investments
Other Short-Term Assets $195.0M $41.30M $82.80M
YoY Change 135.51% -34.13% -20.38%
Inventory $210.9M $164.7M $177.9M
Prepaid Expenses
Receivables $744.0M $865.5M $1.037B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.476B $1.419B $1.726B
YoY Change -14.5% 11.73% 43.75%
LONG-TERM ASSETS
Property, Plant & Equipment $14.70B $12.93B $12.08B
YoY Change 21.65% 23.95% 19.98%
Goodwill $46.60M $46.60M $256.6M
YoY Change -81.84% -81.84%
Intangibles
YoY Change
Long-Term Investments $719.0M $490.5M $441.5M
YoY Change 62.85% 121.34% 98.87%
Other Assets $84.00M $36.50M $25.70M
YoY Change 226.85% 69.77% -26.57%
Total Long-Term Assets $17.44B $15.52B $14.84B
YoY Change 17.52% 18.3% 15.99%
TOTAL ASSETS
Total Short-Term Assets $1.476B $1.419B $1.726B
Total Long-Term Assets $17.44B $15.52B $14.84B
Total Assets $18.92B $16.94B $16.57B
YoY Change 14.18% 17.72% 18.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $612.0M $722.0M $976.0M
YoY Change -37.3% 1.4% 62.4%
Accrued Expenses $157.0M $137.0M $132.0M
YoY Change 18.94% 28.04% 51.72%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $258.0M $1.028B $290.0M
YoY Change -11.03% 193.71% -45.08%
Total Short-Term Liabilities $1.669B $2.799B $2.556B
YoY Change -34.71% 73.09% 56.55%
LONG-TERM LIABILITIES
Long-Term Debt $7.280B $5.632B $5.679B
YoY Change 28.19% 17.86% 27.64%
Other Long-Term Liabilities $352.0M $262.2M $270.6M
YoY Change 30.08% -51.53% -37.51%
Total Long-Term Liabilities $7.280B $5.895B $5.950B
YoY Change 22.36% 10.8% 21.87%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.669B $2.799B $2.556B
Total Long-Term Liabilities $7.280B $5.895B $5.950B
Total Liabilities $13.33B $8.693B $8.506B
YoY Change 56.71% 8.5% 9.15%
SHAREHOLDERS EQUITY
Retained Earnings -$130.4M -$23.80M
YoY Change 68.91%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $39.60M $39.60M
YoY Change 11.24%
Treasury Stock Shares $665.8K $665.7K
Shareholders Equity $5.589B $6.079B $6.081B
YoY Change
Total Liabilities & Shareholders Equity $18.92B $16.94B $16.57B
YoY Change 14.18% 17.72% 18.37%

Cashflow Statement

Concept 2019 Q3 2018 Q4 2018 Q3
OPERATING ACTIVITIES
Net Income -$47.30M -$88.40M -$23.70M
YoY Change 99.58% -129.55% -85.86%
Depreciation, Depletion And Amortization $244.3M $208.8M $206.3M
YoY Change 18.42% 1.02% -0.96%
Cash From Operating Activities $366.7M $229.4M $370.9M
YoY Change -1.13% -43.72% 450.3%
INVESTING ACTIVITIES
Capital Expenditures -$683.1M -$1.081B -$871.1M
YoY Change -21.58% 150.92% 156.96%
Acquisitions
YoY Change
Other Investing Activities $25.50M $127.1M -$84.80M
YoY Change -130.07% -3055.81% 756.57%
Cash From Investing Activities -$657.6M -$954.1M -$955.9M
YoY Change -31.21% 119.23% 173.98%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 390.7M 753.6M 506.6M
YoY Change -22.88% 1386.39% 70.63%
NET CHANGE
Cash From Operating Activities 366.7M 229.4M 370.9M
Cash From Investing Activities -657.6M -954.1M -955.9M
Cash From Financing Activities 390.7M 753.6M 506.6M
Net Change In Cash 99.80M 28.90M -78.40M
YoY Change -227.3% 25.11% -609.09%
FREE CASH FLOW
Cash From Operating Activities $366.7M $229.4M $370.9M
Capital Expenditures -$683.1M -$1.081B -$871.1M
Free Cash Flow $1.050B $1.311B $1.242B
YoY Change -15.48% 56.3% 205.61%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2019Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
7279700000
CY2018Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
5632400000
CY2019Q3 us-gaap Finance Lease Liability Noncurrent Statement Of Financial Position Extensible List
FinanceLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList
us-gaap:LiabilitiesNoncurrent
CY2019Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
19596000000.0
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
17220700000
CY2019Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4899100000
CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4292300000
CY2019Q3 us-gaap Goodwill
Goodwill
46600000
CY2018Q4 us-gaap Goodwill
Goodwill
46600000
CY2019Q3 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
1327800000
CY2018Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
1737300000
us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2019-11-14
CY2019Q3 us-gaap Operating Lease Right Of Use Asset Statement Of Financial Position Extensible List
OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList
us-gaap:OtherAssetsNoncurrent
CY2019Q3 us-gaap Finance Lease Right Of Use Asset Statement Of Financial Position Extensible List
FinanceLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList
us-gaap:PropertyPlantAndEquipmentGross
CY2019Q3 us-gaap Operating Lease Liability Current Statement Of Financial Position Extensible List
OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList
us-gaap:AccountsPayableAndAccruedLiabilitiesCurrent
CY2019Q3 us-gaap Finance Lease Liability Current Statement Of Financial Position Extensible List
FinanceLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList
us-gaap:LiabilitiesCurrent
CY2019Q3 us-gaap Operating Lease Liability Noncurrent Statement Of Financial Position Extensible List
OperatingLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList
us-gaap:OtherLiabilitiesNoncurrent
CY2019Q3 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
527700000
CY2018Q4 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
525200000
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1902500000
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2986400000
CY2018Q3 us-gaap Dividends Preferred Stock
DividendsPreferredStock
22900000
CY2018Q3 trgp Deemed Preferred Stock Dividend
DeemedPreferredStockDividend
7400000
trgp Other Comprehensive Income Loss
OtherComprehensiveIncomeLoss
46600000
CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
8819900000
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6756000000.0
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6197200000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7886300000
CY2019Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
28300000
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
-23700000
CY2019Q3 us-gaap Dividends Preferred Stock
DividendsPreferredStock
22900000
CY2019Q3 trgp Deemed Preferred Stock Dividend
DeemedPreferredStockDividend
8400000
CY2019Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
3900000
CY2019Q3 us-gaap Dividends Preferred Stock
DividendsPreferredStock
22900000
CY2019Q3 trgp Deemed Preferred Stock Dividend Accretion Of Beneficial Conversion Feature
DeemedPreferredStockDividendAccretionOfBeneficialConversionFeature
8400000
CY2019Q3 us-gaap Dividends Common Stock
DividendsCommonStock
211700000
CY2019Q3 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
90000000.0
CY2019Q3 trgp Contributions From Non Controlling Interest
ContributionsFromNonControllingInterest
115300000
CY2019Q3 trgp Other Comprehensive Income Loss
OtherComprehensiveIncomeLoss
57900000
CY2019Q3 us-gaap Profit Loss
ProfitLoss
32100000
CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
8819900000
CY2018Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
202500000
CY2018Q3 us-gaap Dividends Preferred Stock
DividendsPreferredStock
22900000
CY2018Q3 trgp Deemed Preferred Stock Dividend Accretion Of Beneficial Conversion Feature
DeemedPreferredStockDividendAccretionOfBeneficialConversionFeature
7400000
CY2018Q3 us-gaap Dividends Common Stock
DividendsCommonStock
205400000
CY2018Q3 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
20600000
CY2018Q3 trgp Contributions From Non Controlling Interest
ContributionsFromNonControllingInterest
164400000
CY2018Q3 trgp Other Comprehensive Income Loss
OtherComprehensiveIncomeLoss
-88000000.0
CY2018Q3 us-gaap Profit Loss
ProfitLoss
-11200000
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
7270200000
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
7470800000
trgp Deemed Preferred Stock Dividend Accretion Of Beneficial Conversion Feature
DeemedPreferredStockDividendAccretionOfBeneficialConversionFeature
24400000
us-gaap Dividends Common Stock
DividendsCommonStock
634800000
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
181100000
trgp Contributions From Non Controlling Interest
ContributionsFromNonControllingInterest
518800000
us-gaap Noncontrolling Interest Increase From Sale Of Parent Equity Interest
NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest
1611500000
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
572000000.0
us-gaap Preferred Stock Dividends Per Share Declared
PreferredStockDividendsPerShareDeclared
71.25
us-gaap Dividends Preferred Stock
DividendsPreferredStock
68800000
trgp Deemed Preferred Stock Dividend Accretion Of Beneficial Conversion Feature
DeemedPreferredStockDividendAccretionOfBeneficialConversionFeature
21500000
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
2.73
us-gaap Dividends Common Stock
DividendsCommonStock
604400000
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
60000000.0
trgp Noncontrolling Interest Increase Decrease From Business Combination
NoncontrollingInterestIncreaseDecreaseFromBusinessCombination
1100000
us-gaap Profit Loss
ProfitLoss
56300000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
7600000
trgp Contributions From Non Controlling Interest
ContributionsFromNonControllingInterest
611700000
us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
100000
trgp Other Comprehensive Income Loss
OtherComprehensiveIncomeLoss
-90800000
us-gaap Profit Loss
ProfitLoss
148600000
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
7270200000
us-gaap Profit Loss
ProfitLoss
148600000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
8100000
us-gaap Share Based Compensation
ShareBasedCompensation
49000000.0
us-gaap Share Based Compensation
ShareBasedCompensation
40700000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
607100000
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
2800000
us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
66300000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
37700000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
6400000
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
16000000.0
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-9600000
us-gaap Gain Loss On Sale Of Property
GainLossOnSaleOfProperty
-14300000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
17900000
us-gaap Gain Loss On Repurchase Of Debt Instrument
GainLossOnRepurchaseOfDebtInstrument
-1400000
us-gaap Gain Loss On Repurchase Of Debt Instrument
GainLossOnRepurchaseOfDebtInstrument
-2000000.0
us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
65800000
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
8800000
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
12100000
us-gaap Increase Decrease In Accounts Receivable And Other Operating Assets
IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets
-98400000
us-gaap Increase Decrease In Accounts Receivable And Other Operating Assets
IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets
225300000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
89700000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
16600000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
8000000.0
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
330200000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
919000000.0
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
914600000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2434100000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2033600000
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
2700000
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
71500000
us-gaap Payments For Advance To Affiliate
PaymentsForAdvanceToAffiliate
243700000
us-gaap Payments For Advance To Affiliate
PaymentsForAdvanceToAffiliate
223700000
us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
70300000
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
1100000
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
2200000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
16300000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
9200000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2620000000.0
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2192800000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
2630000000.0
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
1275000000.0
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
2500000000.0
CY2019Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1854400000
CY2019Q3 us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
70300000
CY2019Q3 us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
65800000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
1295000000.0
us-gaap Proceeds From Accounts Receivable Securitization
ProceedsFromAccountsReceivableSecuritization
770000000.0
us-gaap Proceeds From Accounts Receivable Securitization
ProceedsFromAccountsReceivableSecuritization
440000000.0
us-gaap Repayments Of Accounts Receivable Securitization
RepaymentsOfAccountsReceivableSecuritization
804000000.0
us-gaap Repayments Of Accounts Receivable Securitization
RepaymentsOfAccountsReceivableSecuritization
500000000.0
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
1500000000.0
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
1000000000.0
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
749400000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
8500000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
576500000
us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
25200000
us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
23300000
us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
317100000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
13500000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
4000000.0
trgp Proceeds From Sale Of Ownership Interests In Subsidiaries
ProceedsFromSaleOfOwnershipInterestsInSubsidiaries
1619700000
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
100000
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
518800000
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
611700000
trgp Payments Of Dividends To Noncontrolling Interests
PaymentsOfDividendsToNoncontrollingInterests
98900000
trgp Payments Of Dividends To Noncontrolling Interests
PaymentsOfDividendsToNoncontrollingInterests
51600000
us-gaap Distribution Made To Limited Partner Cash Distributions Paid
DistributionMadeToLimitedPartnerCashDistributionsPaid
8400000
us-gaap Distribution Made To Limited Partner Cash Distributions Paid
DistributionMadeToLimitedPartnerCashDistributionsPaid
8400000
us-gaap Payments Of Ordinary Dividends
PaymentsOfOrdinaryDividends
718300000
us-gaap Payments Of Ordinary Dividends
PaymentsOfOrdinaryDividends
676600000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1795200000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1344200000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
94200000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
66000000.0
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
232100000
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
137200000
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
326300000
CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
203200000
CY2018Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
753400000
CY2019Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1854400000
CY2018Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1983200000
CY2018Q3 us-gaap Depreciation
Depreciation
161700000
us-gaap Depreciation
Depreciation
470900000
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
171600000
us-gaap Nature Of Operations
NatureOfOperations
<p id="NOTE_1_ORGANIZATION_OPERATIONS" style="text-align:justify;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 — Organization and Operations</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="text-align:justify;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="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </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. (“TRC”) is a publicly traded Delaware corporation formed in October 2005. Our common stock is listed on the New York Stock Exchange under the symbol “TRGP.” In this Quarterly Report, unless the context requires otherwise, references to “we,” “us,” “our,” “the Company” or “Targa” are intended to mean our consolidated business and operations.</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="text-align:justify;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="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </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;">The Company is primarily engaged in the business of:</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </p> <div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:3.33%;white-space:nowrap" valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"> </p></td> <td style="width:3.33%;white-space:nowrap" valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-family:'Times New Roman';font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-family:'Times New Roman';font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">•</span></p></td> <td valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"><span style="font-family:Times New Roman;">gathering, compressing, treating, processing, transporting and selling natural gas;</span></p></td></tr></table></div> <div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:3.33%;white-space:nowrap" valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"> </p></td> <td style="width:3.33%;white-space:nowrap" valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-family:'Times New Roman';font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-family:'Times New Roman';font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">•</span></p></td> <td valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"><span style="font-family:Times New Roman;">transporting, storing, fractionating, treating and selling NGLs and NGL products, including services to LPG exporters; and</span></p></td></tr></table></div> <div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:3.33%;white-space:nowrap" valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"> </p></td> <td style="width:3.33%;white-space:nowrap" valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-family:'Times New Roman';font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-family:'Times New Roman';font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">•</span></p></td> <td valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"><span style="font-family:Times New Roman;">gathering, storing, terminaling and selling crude oil.</span></p></td></tr></table></div> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </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;">See Note 22 – Segment Information for certain financial information regarding our business segments.</p>
CY2019Q3 us-gaap Energy Related Inventory
EnergyRelatedInventory
202600000
CY2019Q3 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
8300000
CY2018Q4 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
13600000
CY2019Q3 us-gaap Inventory Net
InventoryNet
210900000
CY2018Q4 us-gaap Inventory Net
InventoryNet
164700000
CY2019Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
19596000000.0
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
17220700000
CY2019Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4899100000
CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4292300000
CY2019Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
14696900000
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
12928400000
CY2019Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2736600000
CY2018Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2736600000
CY2019Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
882200000
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
159400000
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
149500000
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
141200000
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
136000000.0
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
128800000
CY2018Q4 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
478600000
CY2018Q4 us-gaap Interest Payable Current
InterestPayableCurrent
79900000
CY2018Q4 us-gaap Long Term Debt
LongTermDebt
6660300000
CY2018Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
79500000
us-gaap Lease Cost
LeaseCost
45600000
CY2018Q4 us-gaap Gas Purchase Payable Current
GasPurchasePayableCurrent
721900000
CY2018Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
47700000
CY2018Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
57300000
CY2018Q4 trgp Preferred Stock Dividends Payable Current
PreferredStockDividendsPayableCurrent
22900000
CY2019Q3 trgp Accrued Distributions To Noncontrolling Interest
AccruedDistributionsToNoncontrollingInterest
73800000
CY2019Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
24800000
CY2018Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
20800000
CY2019Q3 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
1327800000
CY2018Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
1737300000
CY2018Q4 trgp Outstanding Checks
OutstandingChecks
52600000
CY2018Q4 us-gaap Collateralized Financings
CollateralizedFinancings
280000000.0
CY2018Q4 us-gaap Debt Current
DebtCurrent
1029400000
CY2018Q4 us-gaap Deferred Finance Costs Current Net
DeferredFinanceCostsCurrentNet
1500000
CY2018Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
0
CY2018Q4 trgp Debt Current Net Of Issuance Cost
DebtCurrentNetOfIssuanceCost
1027900000
CY2018Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
0
CY2018Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
5632400000
CY2019Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P3Y
CY2019Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.040
CY2019Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.039
CY2019Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
173000000.0
CY2019Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
41800000
CY2019Q3 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
46900000
CY2019Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
7400000
CY2019Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
12000000.0
CY2019Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
49200000
CY2019Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
26900000
CY2019Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
2700000
us-gaap Operating Lease Cost
OperatingLeaseCost
7200000
CY2019Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
6700000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
22400000
CY2019Q3 us-gaap Variable Lease Cost
VariableLeaseCost
1300000
us-gaap Variable Lease Cost
VariableLeaseCost
5100000
CY2019Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
3400000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
9700000
CY2019Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
400000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
1200000
CY2019Q3 us-gaap Lease Cost
LeaseCost
14500000
us-gaap Operating Lease Payments
OperatingLeasePayments
6400000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
1200000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
8500000
CY2019Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
9500000
CY2019Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
13300000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
10400000
CY2019Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
11400000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
10000000.0
CY2019Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
10300000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
8500000
CY2019Q3 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
6100000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
6400000
CY2019Q3 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
600000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
21000000.0
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
65800000
CY2019Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
41700000
CY2019Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
9200000
CY2019Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
2800000
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
56600000
CY2019Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
38900000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
20900000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
20200000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
18500000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
16500000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
9800000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
24900000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
110800000
CY2019Q3 trgp Preferred Stock Dividends Payable Current
PreferredStockDividendsPayableCurrent
22900000
CY2019Q3 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
22900000
us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
68800000
CY2019Q3 trgp Deemed Preferred Stock Dividend
DeemedPreferredStockDividend
8400000
trgp Deemed Preferred Stock Dividend
DeemedPreferredStockDividend
24400000
CY2019Q3 us-gaap Partners Capital Account Contributions
PartnersCapitalAccountContributions
10000000.0
us-gaap Partners Capital Account Contributions
PartnersCapitalAccountContributions
200000000.0
CY2015Q4 us-gaap Preferred Units Issued
PreferredUnitsIssued
5000000
CY2019Q3 us-gaap Profit Loss
ProfitLoss
32100000
CY2018Q3 us-gaap Profit Loss
ProfitLoss
-11200000
CY2019Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
79400000
CY2018Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
12500000
CY2019Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
31300000
CY2018Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
30300000
CY2019Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-78600000
CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-54000000.0
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
232700000
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
226500000
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.34
CY2018Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.24
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
232700000
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
226500000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1700000
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
232700000
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
226500000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
232400000
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.34
CY2018Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.24
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.82
CY2019Q3 trgp Derivative Asset Before Effects Of Master Netting Arrangements Current
DerivativeAssetBeforeEffectsOfMasterNettingArrangementsCurrent
140100000
CY2019Q3 trgp Derivative Liability Before Effects Of Master Netting Arrangements Current
DerivativeLiabilityBeforeEffectsOfMasterNettingArrangementsCurrent
83500000
CY2018Q4 trgp Derivative Asset Before Effects Of Master Netting Arrangements Current
DerivativeAssetBeforeEffectsOfMasterNettingArrangementsCurrent
115300000
CY2018Q4 trgp Derivative Liability Before Effects Of Master Netting Arrangements Current
DerivativeLiabilityBeforeEffectsOfMasterNettingArrangementsCurrent
33600000
CY2019Q3 trgp Derivative Asset Before Effects Of Master Netting Arrangements Noncurrent
DerivativeAssetBeforeEffectsOfMasterNettingArrangementsNoncurrent
60000000.0
CY2019Q3 trgp Derivative Liability Before Effects Of Master Netting Arrangements Noncurrent
DerivativeLiabilityBeforeEffectsOfMasterNettingArrangementsNoncurrent
46100000
CY2018Q4 trgp Derivative Asset Before Effects Of Master Netting Arrangements Noncurrent
DerivativeAssetBeforeEffectsOfMasterNettingArrangementsNoncurrent
34100000
CY2018Q4 trgp Derivative Liability Before Effects Of Master Netting Arrangements Noncurrent
DerivativeLiabilityBeforeEffectsOfMasterNettingArrangementsNoncurrent
3100000
CY2019Q3 trgp Derivative Asset Before Effects Of Master Netting Arrangements
DerivativeAssetBeforeEffectsOfMasterNettingArrangements
200100000
CY2019Q3 trgp Derivative Liability Before Effects Of Master Netting Arrangements
DerivativeLiabilityBeforeEffectsOfMasterNettingArrangements
129600000
CY2018Q4 trgp Derivative Asset Before Effects Of Master Netting Arrangements
DerivativeAssetBeforeEffectsOfMasterNettingArrangements
149400000
CY2018Q4 trgp Derivative Liability Before Effects Of Master Netting Arrangements
DerivativeLiabilityBeforeEffectsOfMasterNettingArrangements
36700000
CY2019Q3 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
200100000
CY2019Q3 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
129600000
CY2019Q3 us-gaap Derivative Assets
DerivativeAssets
143700000
CY2019Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
98400000
CY2018Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
149400000
CY2018Q4 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
36700000
CY2018Q4 trgp Derivative Collateral Obligation Right To Return Reclaim Securities
DerivativeCollateralObligationRightToReturnReclaimSecurities
-14200000
CY2018Q4 us-gaap Derivative Assets
DerivativeAssets
116400000
CY2018Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
17900000
CY2019Q3 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
70500000
CY2019Q3 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
70500000
CY2019Q3 trgp Derivative Fair Value Of Asset Liability Net If Commodity Price Increases By10 Percent
DerivativeFairValueOfAssetLiabilityNetIfCommodityPriceIncreasesBy10Percent
-34000000.0
CY2019Q3 trgp Derivative Fair Value Of Asset Liability Net If Commodity Price Decreases By10 Percent
DerivativeFairValueOfAssetLiabilityNetIfCommodityPriceDecreasesBy10Percent
175400000
CY2019Q3 trgp Number Of Natural Gas Basis Swaps Categorized As Level3
NumberOfNaturalGasBasisSwapsCategorizedAsLevel3
10
CY2019Q3 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-500000
CY2018Q3 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-61100000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-3600000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-14300000
CY2019Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
17900000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
17900000
CY2018Q3 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
400000
us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
200000
us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
1000000.0
CY2018Q3 us-gaap Other Expenses
OtherExpenses
300000
us-gaap Other Expenses
OtherExpenses
400000
CY2019Q3 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-18400000
CY2018Q3 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-61800000
us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-21700000
us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-15700000
us-gaap Interest Paid Net
InterestPaidNet
228400000
us-gaap Interest Paid Net
InterestPaidNet
149600000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
300000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-500000
trgp Impact Of Capital Expenditure Accruals On Plant And Equipment
ImpactOfCapitalExpenditureAccrualsOnPlantAndEquipment
-150900000
trgp Impact Of Capital Expenditure Accruals On Plant And Equipment
ImpactOfCapitalExpenditureAccrualsOnPlantAndEquipment
283900000
trgp Transfers From Materials And Supplies To Property Plant And Equipment
TransfersFromMaterialsAndSuppliesToPropertyPlantAndEquipment
21700000
trgp Transfers From Materials And Supplies To Property Plant And Equipment
TransfersFromMaterialsAndSuppliesToPropertyPlantAndEquipment
8900000
CY2019Q3 trgp Accrued Distributions To Noncontrolling Interests
AccruedDistributionsToNoncontrollingInterests
73800000
trgp Non Cash Balance Sheet Movements Related To Working Capital
NonCashBalanceSheetMovementsRelatedToWorkingCapital
12600000
trgp Non Cash Balance Sheet Movements Related To Property Plant And Equipment Net Held For Sale
NonCashBalanceSheetMovementsRelatedToPropertyPlantAndEquipmentNetHeldForSale
151400000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
6700000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
8000000.0
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
50500000
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
30800000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1902500000
CY2019Q3 trgp Operating Margin
OperatingMargin
374200000
CY2019Q3 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
542300000
CY2018Q3 trgp Operating Margin
OperatingMargin
408000000.0
CY2018Q3 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
1017700000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6197200000
trgp Operating Margin
OperatingMargin
1180700000
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
2304900000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7886300000
trgp Operating Margin
OperatingMargin
1117900000
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
2310400000
CY2019Q3 us-gaap Revenues
Revenues
1656000000.0
CY2018Q3 us-gaap Revenues
Revenues
2679000000.0
us-gaap Revenues
Revenues
5262500000
CY2019Q3 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
-61800000
CY2018Q3 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
-24900000
us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
-7700000
us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
-73600000
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1902500000
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2986400000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6197200000
CY2019Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
244300000
CY2018Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
206300000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
718900000
CY2019Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
69900000
CY2018Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
63200000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
223500000
CY2019Q3 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-89100000
CY2018Q3 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-78200000
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-241800000
CY2019Q3 us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
65800000
us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
65800000
CY2018Q3 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
16600000
CY2019Q3 trgp Other Operating And Non Operating Income Expense Net
OtherOperatingAndNonOperatingIncomeExpenseNet
-8400000
CY2018Q3 trgp Other Operating And Non Operating Income Expense Net
OtherOperatingAndNonOperatingIncomeExpenseNet
-58800000
CY2019Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
28300000
CY2018Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-15100000

Files In Submission

Name View Source Status
0001564590-19-041853-index-headers.html Edgar Link pending
0001564590-19-041853-index.html Edgar Link pending
0001564590-19-041853.txt Edgar Link pending
0001564590-19-041853-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
gxrdbxremjkw000001.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
R74.htm Edgar Link pending
R75.htm Edgar Link pending
R76.htm Edgar Link pending
R77.htm Edgar Link pending
R78.htm Edgar Link pending
R79.htm Edgar Link pending
R8.htm Edgar Link pending
R80.htm Edgar Link pending
R81.htm Edgar Link pending
R82.htm Edgar Link pending
R83.htm Edgar Link pending
R84.htm Edgar Link pending
R85.htm Edgar Link pending
R86.htm Edgar Link pending
R87.htm Edgar Link pending
R88.htm Edgar Link pending
R89.htm Edgar Link pending
R9.htm Edgar Link pending
R90.htm Edgar Link pending
R91.htm Edgar Link pending
R92.htm Edgar Link pending
R93.htm Edgar Link pending
R94.htm Edgar Link pending
R95.htm Edgar Link pending
R96.htm Edgar Link pending
R97.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
trgp-10q_20190930.htm Edgar Link pending
trgp-10q_20190930_htm.xml Edgar Link completed
trgp-20190930.xsd Edgar Link pending
trgp-20190930_cal.xml Edgar Link unprocessable
trgp-20190930_def.xml Edgar Link unprocessable
trgp-20190930_lab.xml Edgar Link unprocessable
trgp-20190930_pre.xml Edgar Link unprocessable
trgp-ex311_15.htm Edgar Link pending
trgp-ex312_8.htm Edgar Link pending
trgp-ex321_6.htm Edgar Link pending
trgp-ex322_9.htm Edgar Link pending