2022 Q1 Form 10-Q Financial Statement
#000156459022018168 Filed on May 05, 2022
Income Statement
| Concept | 2022 Q1 | 2021 Q1 |
|---|---|---|
| Revenue | $4.959B | $3.633B |
| YoY Change | 36.51% | 77.3% |
| Cost Of Revenue | $4.204B | $2.836B |
| YoY Change | 48.22% | 138.69% |
| Gross Profit | $755.0M | $796.4M |
| YoY Change | -5.2% | -7.46% |
| Gross Profit Margin | 15.22% | 21.92% |
| Selling, General & Admin | $67.10M | $61.40M |
| YoY Change | 9.28% | 1.49% |
| % of Gross Profit | 8.89% | 7.71% |
| Research & Development | ||
| YoY Change | ||
| % of Gross Profit | ||
| Depreciation & Amortization | $209.1M | $216.2M |
| YoY Change | -3.28% | -9.58% |
| % of Gross Profit | 27.7% | 27.15% |
| Operating Expenses | $459.2M | $452.3M |
| YoY Change | 1.53% | -8.68% |
| Operating Profit | $295.8M | $344.1M |
| YoY Change | -14.04% | -5.8% |
| Interest Expense | -$93.60M | -$98.40M |
| YoY Change | -4.88% | 0.41% |
| % of Operating Profit | -31.64% | -28.6% |
| Other Income/Expense, Net | -$500.0K | $100.0K |
| YoY Change | -600.0% | |
| Pretax Income | $191.5M | $242.9M |
| YoY Change | -21.16% | -111.48% |
| Income Tax | $22.90M | $15.00M |
| % Of Pretax Income | 11.96% | 6.18% |
| Net Earnings | $88.00M | $146.4M |
| YoY Change | -39.89% | -108.42% |
| Net Earnings / Revenue | 1.77% | 4.03% |
| Basic Earnings Per Share | $0.06 | $0.54 |
| Diluted Earnings Per Share | $0.06 | $0.53 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 228.5M | 228.5M |
| Diluted Shares Outstanding | 232.4M | 274.7M |
Balance Sheet
| Concept | 2022 Q1 | 2021 Q1 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $135.9M | $249.0M |
| YoY Change | -45.42% | -33.6% |
| Cash & Equivalents | $135.9M | $248.5M |
| Short-Term Investments | ||
| Other Short-Term Assets | $99.90M | $112.0M |
| YoY Change | -10.8% | -62.79% |
| Inventory | $97.50M | $52.00M |
| Prepaid Expenses | ||
| Receivables | $1.567B | $997.0M |
| Other Receivables | $0.00 | $0.00 |
| Total Short-Term Assets | $1.901B | $1.409B |
| YoY Change | 34.88% | 16.03% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $11.65B | $12.06B |
| YoY Change | -3.38% | -2.83% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | $579.8M | $696.0M |
| YoY Change | -16.7% | -5.54% |
| Other Assets | $95.30M | $134.0M |
| YoY Change | -28.88% | 43.01% |
| Total Long-Term Assets | $13.39B | $14.24B |
| YoY Change | -5.93% | -3.87% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $1.901B | $1.409B |
| Total Long-Term Assets | $13.39B | $14.24B |
| Total Assets | $15.30B | $15.65B |
| YoY Change | -2.25% | -2.36% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $1.804B | $948.0M |
| YoY Change | 90.24% | 197.18% |
| Accrued Expenses | $277.0M | $291.0M |
| YoY Change | -4.81% | 38.57% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | $283.8M | $282.0M |
| YoY Change | 0.64% | 0.36% |
| Total Short-Term Liabilities | $2.910B | $1.765B |
| YoY Change | 64.9% | 47.58% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $6.965B | $7.091B |
| YoY Change | -1.78% | -7.19% |
| Other Long-Term Liabilities | $565.1M | $359.0M |
| YoY Change | 57.41% | 21.24% |
| Total Long-Term Liabilities | $7.530B | $7.450B |
| YoY Change | 1.07% | 2416.04% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $2.910B | $1.765B |
| Total Long-Term Liabilities | $7.530B | $7.450B |
| Total Liabilities | $12.85B | $12.60B |
| YoY Change | 1.96% | 744.58% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | ||
| YoY Change | ||
| Common Stock | ||
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $2.447B | $3.046B |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $15.30B | $15.65B |
| YoY Change | -2.25% | -2.36% |
Cashflow Statement
| Concept | 2022 Q1 | 2021 Q1 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | $88.00M | $146.4M |
| YoY Change | -39.89% | -108.42% |
| Depreciation, Depletion And Amortization | $209.1M | $216.2M |
| YoY Change | -3.28% | -9.58% |
| Cash From Operating Activities | $748.2M | $679.8M |
| YoY Change | 10.06% | 50.2% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $204.4M | $96.20M |
| YoY Change | 112.47% | -71.85% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | $7.400M | -$300.0K |
| YoY Change | -2566.67% | -91.67% |
| Cash From Investing Activities | -$197.0M | -$90.00M |
| YoY Change | 118.89% | -55.42% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | -573.8M | -584.1M |
| YoY Change | -1.76% | 182.72% |
| NET CHANGE | ||
| Cash From Operating Activities | 748.2M | 679.8M |
| Cash From Investing Activities | -197.0M | -90.00M |
| Cash From Financing Activities | -573.8M | -584.1M |
| Net Change In Cash | -22.60M | 5.700M |
| YoY Change | -496.49% | -87.07% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | $748.2M | $679.8M |
| Capital Expenditures | $204.4M | $96.20M |
| Free Cash Flow | $543.8M | $583.6M |
| YoY Change | -6.82% | 426.24% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2022Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-500000 | |
| CY2022Q1 | trgp |
Premium On Repurchase Of Noncontrolling Interests Net Of Tax
PremiumOnRepurchaseOfNoncontrollingInterestsNetOfTax
|
53100000 | |
| CY2022Q1 | us-gaap |
Stock Granted During Period Value Sharebased Compensation Gross
StockGrantedDuringPeriodValueSharebasedCompensationGross
|
13500000 | |
| CY2022Q1 | trgp |
Distribution Equivalent Rights
DistributionEquivalentRights
|
1700000 | |
| CY2022Q1 | us-gaap |
Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
|
22500000 | |
| CY2022Q1 | us-gaap |
Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
|
49700000 | |
| CY2022Q1 | us-gaap |
Preferred Stock Dividends Per Share Declared
PreferredStockDividendsPerShareDeclared
|
23.75 | |
| CY2022Q1 | us-gaap |
Dividends Preferred Stock
DividendsPreferredStock
|
21800000 | |
| CY2022Q1 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.35 | |
| CY2022Q1 | us-gaap |
Dividends Common Stock
DividendsCommonStock
|
80000000.0 | |
| CY2022Q1 | us-gaap |
Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
|
72200000 | |
| CY2022Q1 | us-gaap |
Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
|
2900000 | |
| CY2022Q1 | us-gaap |
Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
|
911000000.0 | |
| CY2022Q1 | trgp |
Other Comprehensive Income Loss
OtherComprehensiveIncomeLoss
|
-187500000 | |
| CY2022Q1 | us-gaap |
Profit Loss
ProfitLoss
|
168600000 | |
| CY2022Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
4017300000 | |
| CY2020Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
5903200000 | |
| CY2021Q1 | us-gaap |
Stock Granted During Period Value Sharebased Compensation Gross
StockGrantedDuringPeriodValueSharebasedCompensationGross
|
15000000.0 | |
| CY2021Q1 | trgp |
Distribution Equivalent Rights
DistributionEquivalentRights
|
400000 | |
| CY2021Q1 | us-gaap |
Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
|
8600000 | |
| CY2021Q1 | us-gaap |
Preferred Stock Dividends Per Share Declared
PreferredStockDividendsPerShareDeclared
|
23.75 | |
| CY2021Q1 | us-gaap |
Dividends Preferred Stock
DividendsPreferredStock
|
21800000 | |
| CY2021Q1 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.10 | |
| CY2021Q1 | trgp |
Other Comprehensive Income Loss
OtherComprehensiveIncomeLoss
|
-16600000 | |
| CY2021Q1 | us-gaap |
Profit Loss
ProfitLoss
|
227900000 | |
| CY2021Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
5522400000 | |
| CY2021Q1 | us-gaap |
Profit Loss
ProfitLoss
|
227900000 | |
| CY2022Q1 | us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
2400000 | |
| CY2021Q1 | us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
2700000 | |
| CY2022Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
13500000 | |
| CY2021Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
15000000.0 | |
| CY2022Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
209100000 | |
| CY2021Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
216200000 | |
| CY2022Q1 | us-gaap |
Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
|
1000000.0 | |
| CY2022Q1 | trgp |
Write Downs Of Asset
WriteDownsOfAsset
|
500000 | |
| CY2021Q1 | trgp |
Write Downs Of Asset
WriteDownsOfAsset
|
3500000 | |
| CY2022Q1 | us-gaap |
Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
|
1100000 | |
| CY2021Q1 | us-gaap |
Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
|
900000 | |
| CY2022Q1 | us-gaap |
Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
|
700000 | |
| CY2022Q1 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
21100000 | |
| CY2021Q1 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
14500000 | |
| CY2022Q1 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
5600000 | |
| CY2021Q1 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
11800000 | |
| CY2022Q1 | us-gaap |
Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
|
6000000.0 | |
| CY2021Q1 | us-gaap |
Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
|
24300000 | |
| CY2022Q1 | us-gaap |
Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
|
-178200000 | |
| CY2021Q1 | us-gaap |
Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
|
1500000 | |
| CY2022Q1 | us-gaap |
Gain Loss On Repurchase Of Debt Instrument
GainLossOnRepurchaseOfDebtInstrument
|
-15800000 | |
| CY2021Q1 | us-gaap |
Gain Loss On Repurchase Of Debt Instrument
GainLossOnRepurchaseOfDebtInstrument
|
-14700000 | |
| CY2022Q1 | us-gaap |
Increase Decrease In Accounts Receivable And Other Operating Assets
IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets
|
216200000 | |
| CY2021Q1 | us-gaap |
Increase Decrease In Accounts Receivable And Other Operating Assets
IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets
|
41900000 | |
| CY2022Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-55900000 | |
| CY2021Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-139900000 | |
| CY2022Q1 | trgp |
Increase Decrease In Account Payable Accrued Liabilities And Other Liabilities
IncreaseDecreaseInAccountPayableAccruedLiabilitiesAndOtherLiabilities
|
363500000 | |
| CY2021Q1 | trgp |
Increase Decrease In Account Payable Accrued Liabilities And Other Liabilities
IncreaseDecreaseInAccountPayableAccruedLiabilitiesAndOtherLiabilities
|
121200000 | |
| CY2022Q1 | us-gaap |
Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
|
-64000000.0 | |
| CY2021Q1 | us-gaap |
Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
|
-45800000 | |
| CY2022Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
748200000 | |
| CY2021Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
679800000 | |
| CY2022Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
204400000 | |
| CY2021Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
96200000 | |
| CY2022Q1 | us-gaap |
Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
|
1000000.0 | |
| CY2022Q1 | us-gaap |
Payments For Advance To Affiliate
PaymentsForAdvanceToAffiliate
|
400000 | |
| CY2022Q1 | us-gaap |
Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
|
6800000 | |
| CY2021Q1 | us-gaap |
Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
|
5900000 | |
| CY2021Q1 | us-gaap |
Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
|
-300000 | |
| CY2022Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-197000000.0 | |
| CY2021Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-90000000.0 | |
| CY2022Q1 | us-gaap |
Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
|
1805000000.0 | |
| CY2021Q1 | us-gaap |
Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
|
65000000.0 | |
| CY2022Q1 | us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
810000000.0 | |
| CY2021Q1 | us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
825000000.0 | |
| CY2022Q1 | us-gaap |
Proceeds From Accounts Receivable Securitization
ProceedsFromAccountsReceivableSecuritization
|
250000000.0 | |
| CY2021Q1 | us-gaap |
Proceeds From Accounts Receivable Securitization
ProceedsFromAccountsReceivableSecuritization
|
350000000.0 | |
| CY2022Q1 | us-gaap |
Repayments Of Accounts Receivable Securitization
RepaymentsOfAccountsReceivableSecuritization
|
130000000.0 | |
| CY2021Q1 | us-gaap |
Repayments Of Accounts Receivable Securitization
RepaymentsOfAccountsReceivableSecuritization
|
430000000.0 | |
| CY2021Q1 | us-gaap |
Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
|
1000000000.0 | |
| CY2022Q1 | us-gaap |
Repayments Of Senior Debt
RepaymentsOfSeniorDebt
|
480700000 | |
| CY2021Q1 | us-gaap |
Repayments Of Senior Debt
RepaymentsOfSeniorDebt
|
548100000 | |
| CY2022Q1 | us-gaap |
Finance Lease Principal Payments
FinanceLeasePrincipalPayments
|
3200000 | |
| CY2021Q1 | us-gaap |
Finance Lease Principal Payments
FinanceLeasePrincipalPayments
|
3100000 | |
| CY2022Q1 | us-gaap |
Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
|
10900000 | |
| CY2021Q1 | us-gaap |
Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
|
9000000.0 | |
| CY2022Q1 | us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
72200000 | |
| CY2021Q1 | us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
8600000 | |
| CY2022Q1 | us-gaap |
Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
|
2900000 | |
| CY2021Q1 | us-gaap |
Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
|
2000000.0 | |
| CY2022Q1 | trgp |
Payments Of Dividends To Noncontrolling Interests
PaymentsOfDividendsToNoncontrollingInterests
|
90400000 | |
| CY2021Q1 | trgp |
Payments Of Dividends To Noncontrolling Interests
PaymentsOfDividendsToNoncontrollingInterests
|
129300000 | |
| CY2022Q1 | us-gaap |
Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
|
926300000 | |
| CY2022Q1 | trgp |
Payments Of Ordinary Dividends Common And Preferred Shareholders
PaymentsOfOrdinaryDividendsCommonAndPreferredShareholders
|
108000000.0 | |
| CY2021Q1 | trgp |
Payments Of Ordinary Dividends Common And Preferred Shareholders
PaymentsOfOrdinaryDividendsCommonAndPreferredShareholders
|
48000000.0 | |
| CY2022Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-573800000 | |
| CY2021Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-584100000 | |
| CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-22600000 | |
| CY2021Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
5700000 | |
| CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
158500000 | |
| CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
242800000 | |
| CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
135900000 | |
| CY2021Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
248500000 | |
| CY2022Q1 | 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-size:10pt;font-family:Times New Roman;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-size:10pt;font-family:Times New Roman;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-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Targa Resources Corp. (NYSE: TRGP) is a publicly traded Delaware corporation formed in October 2005. Targa is a leading provider of midstream services and is one of the largest independent infrastructure companies in North America. We own, operate, acquire, and develop a diversified portfolio of complementary domestic midstream infrastructure assets.</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-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In this Quarterly Report, unless the context requires otherwise, references to “we,” “us,” “our,” “the Company,” “Targa” or “TRGP” are intended to mean our consolidated business and operations. TRGP controls the general partner of and owns all of the outstanding common units representing limited partner interests in Targa Resources Partners LP, referred to herein as the “Partnership”. Targa consolidates the Partnership and its subsidiaries under accounting principles generally accepted in the United States of America (“GAAP”). Targa’s consolidated financial statements include differences from the consolidated financial statements of the Partnership. The most noteworthy differences are: </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;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;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-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><span style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"/><span style="font-size:10pt;font-family:'Times New Roman'">•</span></p></td> <td valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:10pt;"><span style="Background-color:#auto;text-decoration:none;"/><span style="color:#000000;"/><span style="color:#000000;">the inclusion of the TRGP revolving credit facility;</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;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;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-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><span style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"/><span style="font-size:10pt;font-family:'Times New Roman'">•</span></p></td> <td valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:10pt;"><span style="Background-color:#auto;text-decoration:none;"/><span style="color:#000000;"/><span style="color:#000000;">the inclusion of Series A Preferred Stock (“Series A Preferred”); 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;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;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-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><span style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"/><span style="font-size:10pt;font-family:'Times New Roman'">•</span></p></td> <td valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:10pt;"><span style="Background-color:#auto;text-decoration:none;"/><span style="color:#000000;"/><span style="color:#000000;">the impacts of TRGP’s treatment as a corporation for U.S. federal income tax purposes.</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-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;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-size:10pt;font-family:Times New Roman;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;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;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-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><span style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"/><span style="font-size:10pt;font-family:'Times New Roman'">•</span></p></td> <td valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:10pt;"><span style="Background-color:#auto;text-decoration:none;"/><span style="color:#000000;"/><span style="color:#000000;">gathering, compressing, treating, processing, transporting, and purchasing 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;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;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-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><span style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"/><span style="font-size:10pt;font-family:'Times New Roman'">•</span></p></td> <td valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:10pt;"><span style="Background-color:#auto;text-decoration:none;"/><span style="color:#000000;"/><span style="color:#000000;">transporting, storing, fractionating, treating, and purchasing 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;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;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-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><span style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"/><span style="font-size:10pt;font-family:'Times New Roman'">•</span></p></td> <td valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:10pt;"><span style="Background-color:#auto;text-decoration:none;"/><span style="color:#000000;"/><span style="color:#000000;">gathering, storing, terminaling, and purchasing 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-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">See Note 19 – Segment Information for certain financial information regarding our business segments.</p> | |
| CY2021Q4 | us-gaap |
Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
|
12800000 | |
| CY2022Q1 | trgp |
Debt Current Net Of Issuance Cost
DebtCurrentNetOfIssuanceCost
|
283800000 | |
| CY2022Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
20757300000 | |
| CY2021Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
20596100000 | |
| CY2022Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
9104300000 | |
| CY2021Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
8928400000 | |
| CY2022Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
11653000000.0 | |
| CY2021Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
11667700000 | |
| CY2022Q1 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
2497700000 | |
| CY2021Q4 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
2642900000 | |
| CY2022Q1 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
1430900000 | |
| CY2021Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
1548100000 | |
| CY2022Q1 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
1066800000 | |
| CY2021Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
1094800000 | |
| CY2022Q1 | us-gaap |
Depreciation
Depreciation
|
181100000 | |
| CY2021Q1 | us-gaap |
Depreciation
Depreciation
|
183400000 | |
| CY2022Q1 | us-gaap |
Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
|
0 | |
| CY2021Q1 | us-gaap |
Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
|
0 | |
| CY2022Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
|
112000000.0 | |
| CY2022Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
|
106800000 | |
| CY2022Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
103000000.0 | |
| CY2022Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
|
99900000 | |
| CY2022Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
|
97600000 | |
| CY2022Q1 | trgp |
Derivative Asset Before Effects Of Master Netting Arrangements
DerivativeAssetBeforeEffectsOfMasterNettingArrangements
|
29300000 | |
| CY2022Q1 | trgp |
Derivative Liability Before Effects Of Master Netting Arrangements
DerivativeLiabilityBeforeEffectsOfMasterNettingArrangements
|
-767000000.0 | |
| CY2021Q4 | trgp |
Derivative Asset Before Effects Of Master Netting Arrangements
DerivativeAssetBeforeEffectsOfMasterNettingArrangements
|
50800000 | |
| CY2021Q4 | trgp |
Derivative Liability Before Effects Of Master Netting Arrangements
DerivativeLiabilityBeforeEffectsOfMasterNettingArrangements
|
-367500000 | |
| CY2021Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
1094800000 | |
| CY2022Q1 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
28000000.0 | |
| CY2022Q1 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
1066800000 | |
| CY2022Q1 | us-gaap |
Collateralized Financings
CollateralizedFinancings
|
270000000.0 | |
| CY2021Q4 | us-gaap |
Collateralized Financings
CollateralizedFinancings
|
150000000.0 | |
| CY2022Q1 | us-gaap |
Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
|
13800000 | |
| CY2021Q4 | trgp |
Debt Current Net Of Issuance Cost
DebtCurrentNetOfIssuanceCost
|
162800000 | |
| CY2022Q1 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
6992600000 | |
| CY2021Q4 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
6465700000 | |
| CY2022Q1 | us-gaap |
Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
|
41300000 | |
| CY2021Q4 | us-gaap |
Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
|
45000000.0 | |
| CY2022Q1 | us-gaap |
Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
|
13600000 | |
| CY2021Q4 | us-gaap |
Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
|
13700000 | |
| CY2022Q1 | us-gaap |
Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
|
6964900000 | |
| CY2021Q4 | us-gaap |
Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
|
6434400000 | |
| CY2022Q1 | us-gaap |
Long Term Debt
LongTermDebt
|
7248700000 | |
| CY2021Q4 | us-gaap |
Long Term Debt
LongTermDebt
|
6597200000 | |
| CY2022Q1 | us-gaap |
Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
|
58700000 | |
| CY2021Q4 | us-gaap |
Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
|
71300000 | |
| CY2022Q1 | us-gaap |
Contractual Obligation
ContractualObligation
|
9225200000 | |
| CY2022Q1 | us-gaap |
Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
|
325100000 | |
| CY2022Q1 | us-gaap |
Contractual Obligation Due In Second And Third Year
ContractualObligationDueInSecondAndThirdYear
|
650300000 | |
| CY2022Q1 | us-gaap |
Contractual Obligation Due In Fourth And Fifth Year
ContractualObligationDueInFourthAndFifthYear
|
2554200000 | |
| CY2022Q1 | us-gaap |
Contractual Obligation Due After Fifth Year
ContractualObligationDueAfterFifthYear
|
5695600000 | |
| CY2022Q1 | trgp |
Derivative Asset Before Effects Of Master Netting Arrangements Current
DerivativeAssetBeforeEffectsOfMasterNettingArrangementsCurrent
|
22000000.0 | |
| CY2022Q1 | trgp |
Derivative Liability Before Effects Of Master Netting Arrangements Current
DerivativeLiabilityBeforeEffectsOfMasterNettingArrangementsCurrent
|
499800000 | |
| CY2021Q4 | trgp |
Derivative Asset Before Effects Of Master Netting Arrangements Current
DerivativeAssetBeforeEffectsOfMasterNettingArrangementsCurrent
|
43100000 | |
| CY2021Q4 | trgp |
Derivative Liability Before Effects Of Master Netting Arrangements Current
DerivativeLiabilityBeforeEffectsOfMasterNettingArrangementsCurrent
|
258200000 | |
| CY2022Q1 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
170600000 | |
| CY2021Q4 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
171800000 | |
| CY2022Q1 | trgp |
Preferred Stock Dividends Payable Current
PreferredStockDividendsPayableCurrent
|
21800000 | |
| CY2022Q1 | us-gaap |
Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
|
2022-05-02 | |
| CY2022Q1 | us-gaap |
Dividends Preferred Stock Cash
DividendsPreferredStockCash
|
21800000 | |
| CY2022Q1 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.35 | |
| CY2021Q4 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
1.40 | |
| CY2022Q1 | trgp |
Derivative Asset Before Effects Of Master Netting Arrangements Noncurrent
DerivativeAssetBeforeEffectsOfMasterNettingArrangementsNoncurrent
|
7300000 | |
| CY2022Q1 | trgp |
Derivative Liability Before Effects Of Master Netting Arrangements Noncurrent
DerivativeLiabilityBeforeEffectsOfMasterNettingArrangementsNoncurrent
|
267200000 | |
| CY2021Q4 | trgp |
Derivative Asset Before Effects Of Master Netting Arrangements Noncurrent
DerivativeAssetBeforeEffectsOfMasterNettingArrangementsNoncurrent
|
7700000 | |
| CY2021Q4 | trgp |
Derivative Liability Before Effects Of Master Netting Arrangements Noncurrent
DerivativeLiabilityBeforeEffectsOfMasterNettingArrangementsNoncurrent
|
109300000 | |
| CY2022Q1 | us-gaap |
Partners Capital Account Contributions
PartnersCapitalAccountContributions
|
140000000.0 | |
| CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
88000000.0 | |
| CY2021Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
146400000 | |
| CY2022Q1 | trgp |
Premium On Repurchase Of Noncontrolling Interests Net Of Tax
PremiumOnRepurchaseOfNoncontrollingInterestsNetOfTax
|
53100000 | |
| CY2022Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
13100000 | |
| CY2021Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
124600000 | |
| CY2022Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
228500000 | |
| CY2021Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
228500000 | |
| CY2022Q1 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
3900000 | |
| CY2021Q1 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
1900000 | |
| CY2022Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
232400000 | |
| CY2021Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
274700000 | |
| CY2022Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.06 | |
| CY2021Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.54 | |
| CY2022Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.06 | |
| CY2021Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.53 | |
| CY2022Q1 | us-gaap |
Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
|
29300000 | |
| CY2022Q1 | us-gaap |
Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
|
767000000.0 | |
| CY2022Q1 | trgp |
Derivative Collateral Obligation Right To Return Reclaim Securities
DerivativeCollateralObligationRightToReturnReclaimSecurities
|
19200000 | |
| CY2022Q1 | us-gaap |
Derivative Liabilities
DerivativeLiabilities
|
718500000 | |
| CY2021Q4 | us-gaap |
Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
|
50800000 | |
| CY2021Q4 | us-gaap |
Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
|
367500000 | |
| CY2021Q4 | trgp |
Derivative Collateral Obligation Right To Return Reclaim Securities
DerivativeCollateralObligationRightToReturnReclaimSecurities
|
8100000 | |
| CY2021Q4 | us-gaap |
Derivative Assets
DerivativeAssets
|
4500000 | |
| CY2021Q4 | us-gaap |
Derivative Liabilities
DerivativeLiabilities
|
313100000 | |
| CY2022Q1 | trgp |
Derivative Collateral Amount
DerivativeCollateralAmount
|
126000000 | |
| CY2022Q1 | us-gaap |
Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
|
737700000 | |
| CY2021Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
242900000 | |
| CY2022Q1 | trgp |
Price Risk Cash Flow Hedge Gain Loss Expected To Reclassify Into Earnings
PriceRiskCashFlowHedgeGainLossExpectedToReclassifyIntoEarnings
|
-545400000 | |
| CY2022Q1 | us-gaap |
Price Risk Cash Flow Hedge Unrealized Gain Loss To Be Reclassified During Next12 Months
PriceRiskCashFlowHedgeUnrealizedGainLossToBeReclassifiedDuringNext12Months
|
-423300000 | |
| CY2022Q1 | us-gaap |
Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
|
737700000 | |
| CY2022Q1 | trgp |
Derivative Fair Value Of Asset Liability Net If Commodity Price Increases By10 Percent
DerivativeFairValueOfAssetLiabilityNetIfCommodityPriceIncreasesBy10Percent
|
-930600000 | |
| CY2022Q1 | trgp |
Derivative Fair Value Of Asset Liability Net If Commodity Price Decreases By10 Percent
DerivativeFairValueOfAssetLiabilityNetIfCommodityPriceDecreasesBy10Percent
|
-544800000 | |
| CY2022Q1 | trgp |
Number Of Derivative Contract Categorized As Level3
NumberOfDerivativeContractCategorizedAsLevel3
|
0 | |
| CY2021Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
3502400000 | |
| CY2022Q1 | us-gaap |
Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
|
-322700000 | |
| CY2021Q1 | us-gaap |
Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
|
-134700000 | |
| CY2022Q1 | us-gaap |
Revenues
Revenues
|
4959100000 | |
| CY2021Q1 | us-gaap |
Revenues
Revenues
|
3632700000 | |
| CY2021Q1 | trgp |
Write Downs Of Asset
WriteDownsOfAsset
|
3500000 | |
| CY2022Q1 | us-gaap |
Gain Loss On Repurchase Of Debt Instrument
GainLossOnRepurchaseOfDebtInstrument
|
-15800000 | |
| CY2021Q1 | us-gaap |
Gain Loss On Repurchase Of Debt Instrument
GainLossOnRepurchaseOfDebtInstrument
|
-14700000 | |
| CY2022Q1 | trgp |
Other Operating And Non Operating Income Expense Net
OtherOperatingAndNonOperatingIncomeExpenseNet
|
-400000 | |
| CY2022Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
191500000 | |
| CY2022Q1 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
192800000 | |
| CY2022Q1 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
-17800000 | |
| CY2022Q1 | us-gaap |
Deferred Tax Liabilities
DeferredTaxLiabilities
|
88000000.0 | |
| CY2022Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
151300000 | |
| CY2021Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
141100000 | |
| CY2022Q1 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
-200000 | |
| CY2021Q1 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
800000 | |
| CY2021Q1 | trgp |
Transfers From Materials And Supplies To Property Plant And Equipment
TransfersFromMaterialsAndSuppliesToPropertyPlantAndEquipment
|
100000 | |
| CY2022Q1 | trgp |
Changes In Accrued Distributions To Noncontrolling Interests
ChangesInAccruedDistributionsToNoncontrollingInterests
|
-18200000 | |
| CY2021Q1 | trgp |
Changes In Accrued Distributions To Noncontrolling Interests
ChangesInAccruedDistributionsToNoncontrollingInterests
|
-22200000 | |
| CY2022Q1 | us-gaap |
Interest Costs Capitalized
InterestCostsCapitalized
|
2400000 | |
| CY2021Q1 | us-gaap |
Interest Costs Capitalized
InterestCostsCapitalized
|
700000 | |
| CY2022Q1 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
2 | |
| CY2022Q1 | us-gaap |
Revenues
Revenues
|
4959100000 | |
| CY2022Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
4888900000 | |
| CY2022Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
209100000 | |
| CY2021Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
216200000 | |
| CY2022Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
67100000 | |
| CY2021Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
61400000 | |
| CY2022Q1 | us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
-93600000 | |
| CY2021Q1 | us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
-98400000 | |
| CY2022Q1 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
5600000 | |
| CY2021Q1 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
11800000 | |
| CY2022Q1 | us-gaap |
Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
|
1000000.0 | |
| CY2022Q1 | trgp |
Write Downs Of Asset
WriteDownsOfAsset
|
500000 |
