10-Q Filing

TARGA RESOURCES CORP. CIK: 1389170 Q2 2022

Filing Information

Form Type	10-Q
Accession Number	`0001564590-22-027962`
Period End Date	20220630
Filing Date	20220804
Fiscal Year	2022
Fiscal Period	Q2
XBRL Instance	trgp-10q_20220630_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 92 Income Statement 92 Cash Flow Statement 99 Stockholders Equity 67 Comprehensive Income 28

Balance Sheet 92 line items

Line Item	Tag	Value	Unit	Period
Trade receivables, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$100.00K	USD	Point-in-time
Trade receivables, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$100.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$158.50M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$154.00M	USD	Point-in-time
Trade receivables, net of allowances of $0.1 million and $0.1 million at June 30, 2022 and December 31, 2021	`AccountsReceivableNetCurrent`	$1.33B	USD	Point-in-time
Trade receivables, net of allowances of $0.1 million and $0.1 million at June 30, 2022 and December 31, 2021	`AccountsReceivableNetCurrent`	$1.61B	USD	Point-in-time
Inventories	`InventoryNet`	$202.20M	USD	Point-in-time
Inventories	`InventoryNet`	$153.40M	USD	Point-in-time
Assets from risk management activities	`DerivativeAssetBeforeEffectsOfMasterNettingArrangementsCurrent`	$43.10M	USD	Point-in-time
Assets from risk management activities	`DerivativeAssetBeforeEffectsOfMasterNettingArrangementsCurrent`	$80.80M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$114.50M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$82.90M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.16B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.77B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$11.67B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$11.88B	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.09B	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.04B	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	450.00M	shares	Point-in-time
Long-term assets from risk management activities	`DerivativeAssetBeforeEffectsOfMasterNettingArrangementsNoncurrent`	$7.70M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	450.00M	shares	Point-in-time
Long-term assets from risk management activities	`DerivativeAssetBeforeEffectsOfMasterNettingArrangementsNoncurrent`	$20.50M	USD	Point-in-time
Investments in unconsolidated affiliates	`EquityMethodInvestments`	$137.10M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	236.11M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	237.20M	shares	Point-in-time
Investments in unconsolidated affiliates	`EquityMethodInvestments`	$586.50M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	227.06M	shares	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$95.50M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$81.70M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	228.22M	shares	Point-in-time
Preferred stock, par value (in dollar per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total assets	`Assets`	$15.33B	USD	Point-in-time
Preferred stock, par value (in dollar per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total assets	`Assets`	$15.21B	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	98.80M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	98.80M	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.40B	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.90B	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	7.88M	shares	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$255.20M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$272.20M	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	10.14M	shares	Point-in-time
Distributions payable	`DistributionsPayableCurrent`	$25.30M	USD	Point-in-time
Distributions payable	`DistributionsPayableCurrent`	$64.50M	USD	Point-in-time
Interest payable	`InterestPayableCurrent`	$138.50M	USD	Point-in-time
Interest payable	`InterestPayableCurrent`	$131.80M	USD	Point-in-time
Liabilities from risk management activities	`DerivativeLiabilityBeforeEffectsOfMasterNettingArrangementsCurrent`	$425.50M	USD	Point-in-time
Liabilities from risk management activities	`DerivativeLiabilityBeforeEffectsOfMasterNettingArrangementsCurrent`	$258.20M	USD	Point-in-time
Current debt obligations	`DebtCurrentNetOfIssuanceCost`	$162.80M	USD	Point-in-time
Current debt obligations	`DebtCurrentNetOfIssuanceCost`	$414.60M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.30B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.15B	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$7.05B	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$6.43B	USD	Point-in-time
Long-term liabilities from risk management activities	`DerivativeLiabilityBeforeEffectsOfMasterNettingArrangementsNoncurrent`	$109.30M	USD	Point-in-time
Long-term liabilities from risk management activities	`DerivativeLiabilityBeforeEffectsOfMasterNettingArrangementsNoncurrent`	$232.30M	USD	Point-in-time
Deferred income taxes, net	`DeferredIncomeTaxLiabilitiesNet`	$136.00M	USD	Point-in-time
Deferred income taxes, net	`DeferredIncomeTaxLiabilitiesNet`	$213.40M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$301.60M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$288.10M	USD	Point-in-time
Contingencies (see Note 14)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Contingencies (see Note 14)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock ($0.001 par value, 450,000,000 shares authorized as of June 30, 2022 and December 31, 2021)	`CommonStockValueOutstanding`	$200.00K	USD	Point-in-time
Common stock ($0.001 par value, 450,000,000 shares authorized as of June 30, 2022 and December 31, 2021)	`CommonStockValueOutstanding`	$200.00K	USD	Point-in-time
Preferred stock ($0.001 par value, after designation of Series A Preferred Stock: 98,800,000 shares authorized, zero shares issued and outstanding)	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock ($0.001 par value, after designation of Series A Preferred Stock: 98,800,000 shares authorized, zero shares issued and outstanding)	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$3.83B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.27B	USD	Point-in-time
Retained earnings (deficit)	`RetainedEarningsAccumulatedDeficit`	$-1.82B	USD	Point-in-time
Retained earnings (deficit)	`RetainedEarningsAccumulatedDeficit`	$-1.14B	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-276.40M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-230.90M	USD	Point-in-time
Treasury stock, at cost (10,141,989 shares as of June 30, 2022 and 7,884,171 shares as of December 31, 2021)	`TreasuryStockValue`	$350.40M	USD	Point-in-time
Treasury stock, at cost (10,141,989 shares as of June 30, 2022 and 7,884,171 shares as of December 31, 2021)	`TreasuryStockValue`	$204.10M	USD	Point-in-time
Total Targa Resources Corp. stockholders' equity	`StockholdersEquity`	$2.01B	USD	Point-in-time
Total Targa Resources Corp. stockholders' equity	`StockholdersEquity`	$2.07B	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$2.33B	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$3.17B	USD	Point-in-time
Total owners' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.40B	USD	Point-in-time
Total owners' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.02B	USD	Point-in-time
Total owners' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.18B	USD	Point-in-time
Total owners' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.90B	USD	Point-in-time
Total owners' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.40B	USD	Point-in-time
Total owners' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.52B	USD	Point-in-time
Total liabilities, Series A Preferred Stock and owners' equity	`LiabilitiesAndStockholdersEquity`	$15.21B	USD	Point-in-time
Total liabilities, Series A Preferred Stock and owners' equity	`LiabilitiesAndStockholdersEquity`	$15.33B	USD	Point-in-time

Income Statement 92 line items

Line Item	Tag	Value	Unit	Period
Total revenues	`Revenues`	$7.05B	USD	2 Qtrs
Total revenues	`Revenues`	$6.06B	USD	1 Quarter
Total revenues	`Revenues`	$11.01B	USD	2 Qtrs
Total revenues	`Revenues`	$3.42B	USD	1 Quarter
Product purchases and fuel	`CostOfGoodsAndServicesSold`	$9.25B	USD	2 Qtrs
Product purchases and fuel	`CostOfGoodsAndServicesSold`	$2.71B	USD	1 Quarter
Product purchases and fuel	`CostOfGoodsAndServicesSold`	$5.55B	USD	2 Qtrs
Product purchases and fuel	`CostOfGoodsAndServicesSold`	$5.05B	USD	1 Quarter
Operating expenses	`OperatingCostsAndExpenses`	$184.80M	USD	1 Quarter
Operating expenses	`OperatingCostsAndExpenses`	$355.80M	USD	2 Qtrs
Operating expenses	`OperatingCostsAndExpenses`	$215.80M	USD	1 Quarter
Operating expenses	`OperatingCostsAndExpenses`	$399.30M	USD	2 Qtrs
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$479.00M	USD	2 Qtrs
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$428.00M	USD	2 Qtrs
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$211.90M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$269.90M	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$125.10M	USD	2 Qtrs
General and administrative expense	`GeneralAndAdministrativeExpense`	$63.70M	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$138.00M	USD	2 Qtrs
General and administrative expense	`GeneralAndAdministrativeExpense`	$71.00M	USD	1 Quarter
Other operating (income) expense	`OtherOperatingIncomeExpenseNet`	$-700.00K	USD	1 Quarter
Other operating (income) expense	`OtherOperatingIncomeExpenseNet`	$-4.60M	USD	2 Qtrs
Other operating (income) expense	`OtherOperatingIncomeExpenseNet`	$100.00K	USD	1 Quarter
Other operating (income) expense	`OtherOperatingIncomeExpenseNet`	$600.00K	USD	2 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$747.70M	USD	2 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$589.90M	USD	2 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$245.80M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$451.90M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-193.20M	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-81.20M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-94.80M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-174.70M	USD	2 Qtrs
Equity earnings (loss)	`IncomeLossFromEquityMethodInvestments`	$7.00M	USD	2 Qtrs
Equity earnings (loss)	`IncomeLossFromEquityMethodInvestments`	$12.80M	USD	1 Quarter
Equity earnings (loss)	`IncomeLossFromEquityMethodInvestments`	$24.60M	USD	2 Qtrs
Equity earnings (loss)	`IncomeLossFromEquityMethodInvestments`	$1.40M	USD	1 Quarter
Gain (loss) from financing activities	`GainLossOnRepurchaseOfDebtInstrument`	$-16.60M	USD	2 Qtrs
Gain (loss) from financing activities	`GainLossOnRepurchaseOfDebtInstrument`	$-49.60M	USD	2 Qtrs
Gain (loss) from financing activities	`GainLossOnRepurchaseOfDebtInstrument`	$-1.90M	USD	1 Quarter
Gain (loss) from financing activities	`GainLossOnRepurchaseOfDebtInstrument`	$-33.80M	USD	1 Quarter
Gain (loss) from sale of equity method investment	`EquityMethodInvestmentRealizedGainLossOnDisposal`	$435.90M	USD	2 Qtrs
Gain (loss) from sale of equity method investment	`EquityMethodInvestmentRealizedGainLossOnDisposal`	$435.90M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$100.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$200.00K	USD	2 Qtrs
Other, net	`OtherNonoperatingIncomeExpense`	$500.00K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$774.70M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$162.00M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$966.30M	USD	2 Qtrs
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$404.90M	USD	2 Qtrs
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$87.10M	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$6.60M	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$110.10M	USD	2 Qtrs
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$21.60M	USD	2 Qtrs
Net income (loss)	`ProfitLoss`	$383.30M	USD	2 Qtrs
Net income (loss)	`ProfitLoss`	$155.40M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$687.60M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$856.20M	USD	2 Qtrs
Less: Net income (loss) attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$91.20M	USD	1 Quarter
Less: Net income (loss) attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$171.80M	USD	2 Qtrs
Less: Net income (loss) attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$99.20M	USD	1 Quarter
Less: Net income (loss) attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$180.70M	USD	2 Qtrs
Net income (loss) attributable to Targa Resources Corp.	`NetIncomeLoss`	$596.40M	USD	1 Quarter
Net income (loss) attributable to Targa Resources Corp.	`NetIncomeLoss`	$202.60M	USD	2 Qtrs
Net income (loss) attributable to Targa Resources Corp.	`NetIncomeLoss`	$56.20M	USD	1 Quarter
Net income (loss) attributable to Targa Resources Corp.	`NetIncomeLoss`	$684.40M	USD	2 Qtrs
Premium on repurchase of noncontrolling interests, net of tax	`PremiumOnRepurchaseOfNoncontrollingInterestsNetOfTax`	$53.10M	USD	2 Qtrs
Dividends on Series A Preferred Stock	`DividendsPreferredStock`	$30.00M	USD	2 Qtrs
Dividends on Series A Preferred Stock	`DividendsPreferredStock`	$8.20M	USD	1 Quarter
Dividends on Series A Preferred Stock	`DividendsPreferredStock`	$43.70M	USD	2 Qtrs
Dividends on Series A Preferred Stock	`DividendsPreferredStock`	$21.80M	USD	1 Quarter
Deemed dividends on Series A Preferred Stock	`DeemedPreferredStockDividend`	$215.50M	USD	2 Qtrs
Deemed dividends on Series A Preferred Stock	`DeemedPreferredStockDividend`	$215.50M	USD	1 Quarter
Net income (loss) attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$34.40M	USD	1 Quarter
Net income (loss) attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$158.90M	USD	2 Qtrs
Net income (loss) attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$385.80M	USD	2 Qtrs
Net income (loss) attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$372.70M	USD	1 Quarter
Net income (loss) per common share - basic	`EarningsPerShareBasic`	$0.15	USD	1 Quarter
Net income (loss) per common share - basic	`EarningsPerShareBasic`	$0.70	USD	2 Qtrs
Net income (loss) per common share - basic	`EarningsPerShareBasic`	$1.69	USD	2 Qtrs
Net income (loss) per common share - basic	`EarningsPerShareBasic`	$1.64	USD	1 Quarter
Net income (loss) per common share - diluted	`EarningsPerShareDiluted`	$0.15	USD	1 Quarter
Net income (loss) per common share - diluted	`EarningsPerShareDiluted`	$1.61	USD	1 Quarter
Net income (loss) per common share - diluted	`EarningsPerShareDiluted`	$1.66	USD	2 Qtrs
Net income (loss) per common share - diluted	`EarningsPerShareDiluted`	$0.69	USD	2 Qtrs
Weighted average shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	227.80M	shares	1 Quarter
Weighted average shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	228.60M	shares	1 Quarter
Weighted average shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	228.50M	shares	2 Qtrs
Weighted average shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	228.10M	shares	2 Qtrs
Weighted average shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	231.30M	shares	1 Quarter
Weighted average shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	232.00M	shares	2 Qtrs
Weighted average shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	231.70M	shares	1 Quarter
Weighted average shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	230.90M	shares	2 Qtrs

Cash Flow Statement 99 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`ProfitLoss`	$383.30M	USD	2 Qtrs
Net income (loss)	`ProfitLoss`	$155.40M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$687.60M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$856.20M	USD	2 Qtrs
Amortization in interest expense	`AmortizationOfFinancingCostsAndDiscounts`	$5.30M	USD	2 Qtrs
Amortization in interest expense	`AmortizationOfFinancingCostsAndDiscounts`	$4.30M	USD	2 Qtrs
Compensation on equity grants	`ShareBasedCompensation`	$27.30M	USD	2 Qtrs
Compensation on equity grants	`ShareBasedCompensation`	$29.90M	USD	2 Qtrs
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$479.00M	USD	2 Qtrs
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$428.00M	USD	2 Qtrs
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$211.90M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$269.90M	USD	1 Quarter
(Gain) loss on sale or disposition of assets	`GainLossOnDispositionOfAssets1`	$1.60M	USD	2 Qtrs
(Gain) loss on sale or disposition of assets	`GainLossOnDispositionOfAssets1`	$600.00K	USD	1 Quarter
(Gain) loss on sale or disposition of assets	`GainLossOnDispositionOfAssets1`	$400.00K	USD	1 Quarter
(Gain) loss on sale or disposition of assets	`GainLossOnDispositionOfAssets1`	$200.00K	USD	2 Qtrs
Write-downs of assets	`WriteDownsOfAsset`	$1.10M	USD	1 Quarter
Write-downs of assets	`WriteDownsOfAsset`	$4.70M	USD	2 Qtrs
Write-downs of assets	`WriteDownsOfAsset`	$1.00M	USD	2 Qtrs
Write-downs of assets	`WriteDownsOfAsset`	$500.00K	USD	1 Quarter
Accretion of asset retirement obligations	`AssetRetirementObligationAccretionExpense`	$2.20M	USD	2 Qtrs
Accretion of asset retirement obligations	`AssetRetirementObligationAccretionExpense`	$2.00M	USD	2 Qtrs
Deferred income tax expense (benefit)	`DeferredIncomeTaxExpenseBenefit`	$20.30M	USD	2 Qtrs
Deferred income tax expense (benefit)	`DeferredIncomeTaxExpenseBenefit`	$105.80M	USD	2 Qtrs
Equity (earnings) loss of unconsolidated affiliates	`IncomeLossFromEquityMethodInvestments`	$7.00M	USD	2 Qtrs
Equity (earnings) loss of unconsolidated affiliates	`IncomeLossFromEquityMethodInvestments`	$12.80M	USD	1 Quarter
Equity (earnings) loss of unconsolidated affiliates	`IncomeLossFromEquityMethodInvestments`	$24.60M	USD	2 Qtrs
Equity (earnings) loss of unconsolidated affiliates	`IncomeLossFromEquityMethodInvestments`	$1.40M	USD	1 Quarter
Distributions of earnings received from unconsolidated affiliates	`EquityMethodInvestmentDividendsOrDistributions`	$7.30M	USD	2 Qtrs
Distributions of earnings received from unconsolidated affiliates	`EquityMethodInvestmentDividendsOrDistributions`	$42.20M	USD	2 Qtrs
Risk management activities	`UnrealizedGainLossOnDerivatives`	$-182.70M	USD	2 Qtrs
Risk management activities	`UnrealizedGainLossOnDerivatives`	$-68.20M	USD	2 Qtrs
(Gain) loss from financing activities	`GainLossOnRepurchaseOfDebtInstrument`	$-16.60M	USD	2 Qtrs
(Gain) loss from financing activities	`GainLossOnRepurchaseOfDebtInstrument`	$-49.60M	USD	2 Qtrs
(Gain) loss from financing activities	`GainLossOnRepurchaseOfDebtInstrument`	$-1.90M	USD	1 Quarter
(Gain) loss from financing activities	`GainLossOnRepurchaseOfDebtInstrument`	$-33.80M	USD	1 Quarter
(Gain) loss from sale of equity method investment	`EquityMethodInvestmentRealizedGainLossOnDisposal`	$435.90M	USD	2 Qtrs
(Gain) loss from sale of equity method investment	`EquityMethodInvestmentRealizedGainLossOnDisposal`	$435.90M	USD	1 Quarter
Receivables and other assets	`IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets`	$250.90M	USD	2 Qtrs
Receivables and other assets	`IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets`	$-31.10M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$51.20M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-126.20M	USD	2 Qtrs
Accounts payable, accrued liabilities and other liabilities	`IncreaseDecreaseInAccountPayableAccruedLiabilitiesAndOtherLiabilities`	$421.60M	USD	2 Qtrs
Accounts payable, accrued liabilities and other liabilities	`IncreaseDecreaseInAccountPayableAccruedLiabilitiesAndOtherLiabilities`	$166.10M	USD	2 Qtrs
Interest payable	`IncreaseDecreaseInInterestPayableNet`	$-6.70M	USD	2 Qtrs
Interest payable	`IncreaseDecreaseInInterestPayableNet`	$4.50M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.38B	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.30B	USD	2 Qtrs
Outlays for property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$198.90M	USD	2 Qtrs
Outlays for property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$419.50M	USD	2 Qtrs
Outlays for asset acquisition, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$203.70M	USD	2 Qtrs
Proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$2.30M	USD	2 Qtrs
Proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$700.00K	USD	2 Qtrs
Investments in unconsolidated affiliates	`PaymentsForAdvanceToAffiliate`	$1.50M	USD	2 Qtrs
Investments in unconsolidated affiliates	`PaymentsForAdvanceToAffiliate`	$400.00K	USD	2 Qtrs
Proceeds from sale of equity method investment	`ProceedsFromSaleOfEquityMethodInvestments`	$857.00M	USD	2 Qtrs
Return of capital from unconsolidated affiliates	`ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital`	$13.80M	USD	2 Qtrs
Return of capital from unconsolidated affiliates	`ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital`	$11.70M	USD	2 Qtrs
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-1.00M	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-185.90M	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$248.40M	USD	2 Qtrs
Proceeds from borrowings under credit facilities	`ProceedsFromLinesOfCredit`	$480.00M	USD	2 Qtrs
Proceeds from borrowings under credit facilities	`ProceedsFromLinesOfCredit`	$3.42B	USD	2 Qtrs
Repayments of credit facilities	`RepaymentsOfLinesOfCredit`	$2.88B	USD	2 Qtrs
Repayments of credit facilities	`RepaymentsOfLinesOfCredit`	$1.15B	USD	2 Qtrs
Proceeds from borrowings under accounts receivable securitization facility	`ProceedsFromAccountsReceivableSecuritization`	$380.00M	USD	2 Qtrs
Proceeds from borrowings under accounts receivable securitization facility	`ProceedsFromAccountsReceivableSecuritization`	$530.00M	USD	2 Qtrs
Repayments of accounts receivable securitization facility	`RepaymentsOfAccountsReceivableSecuritization`	$520.00M	USD	2 Qtrs
Repayments of accounts receivable securitization facility	`RepaymentsOfAccountsReceivableSecuritization`	$130.00M	USD	2 Qtrs
Proceeds from issuance of senior notes	`ProceedsFromIssuanceOfSeniorLongTermDebt`	$1.49B	USD	2 Qtrs
Proceeds from issuance of senior notes	`ProceedsFromIssuanceOfSeniorLongTermDebt`	$1.00B	USD	2 Qtrs
Redemption of senior notes	`RepaymentsOfSeniorDebt`	$1.47B	USD	2 Qtrs
Redemption of senior notes	`RepaymentsOfSeniorDebt`	$1.13B	USD	2 Qtrs
Principal payments of finance leases	`FinanceLeasePrincipalPayments`	$6.20M	USD	2 Qtrs
Principal payments of finance leases	`FinanceLeasePrincipalPayments`	$6.70M	USD	2 Qtrs
Costs incurred in connection with financing arrangements	`PaymentOfFinancingAndStockIssuanceCosts`	$9.60M	USD	2 Qtrs
Costs incurred in connection with financing arrangements	`PaymentOfFinancingAndStockIssuanceCosts`	$27.00M	USD	2 Qtrs
Repurchase of shares	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$8.60M	USD	2 Qtrs
Repurchase of shares	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$146.30M	USD	2 Qtrs
Contributions from noncontrolling interests	`ProceedsFromMinorityShareholders`	$9.00M	USD	2 Qtrs
Contributions from noncontrolling interests	`ProceedsFromMinorityShareholders`	$4.10M	USD	2 Qtrs
Distributions to noncontrolling interests	`PaymentsOfDividendsToNoncontrollingInterests`	$251.50M	USD	2 Qtrs
Distributions to noncontrolling interests	`PaymentsOfDividendsToNoncontrollingInterests`	$176.70M	USD	2 Qtrs
Repurchase of noncontrolling interests	`PaymentsForRepurchaseOfRedeemableNoncontrollingInterest`	$926.30M	USD	2 Qtrs
Repurchase of Series A Preferred Stock	`PaymentsForRepurchaseOfPreferredStockAndPreferenceStock`	$965.20M	USD	2 Qtrs
Dividends paid to common and Series A Preferred shareholders	`PaymentsOfOrdinaryDividendsCommonAndPreferredShareholders`	$217.80M	USD	2 Qtrs
Dividends paid to common and Series A Preferred shareholders	`PaymentsOfOrdinaryDividendsCommonAndPreferredShareholders`	$92.70M	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.15B	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.64B	USD	2 Qtrs
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-4.50M	USD	2 Qtrs
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-33.80M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$154.00M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$209.00M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$242.80M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$158.50M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$154.00M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$209.00M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$242.80M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$158.50M	USD	Point-in-time

Stockholders Equity 67 line items

Line Item	Tag	Value	Unit	Period
Preferred stock dividends, per share	`PreferredStockDividendsPerShareDeclared`	$47.50	USD	2 Qtrs
Preferred stock dividends, per share	`PreferredStockDividendsPerShareDeclared`	$23.75	USD	1 Quarter
Preferred stock dividends, per share	`PreferredStockDividendsPerShareDeclared`	$23.75	USD	1 Quarter
Preferred stock dividends, per share	`PreferredStockDividendsPerShareDeclared`	$47.50	USD	2 Qtrs
Common stock dividends, per share	`CommonStockDividendsPerShareDeclared`	$0.35	USD	1 Quarter
Common stock dividends, per share	`CommonStockDividendsPerShareDeclared`	$1.40	USD	1 Quarter
Common stock dividends, per share	`CommonStockDividendsPerShareDeclared`	$0.10	USD	1 Quarter
Common stock dividends, per share	`CommonStockDividendsPerShareDeclared`	$0.20	USD	2 Qtrs
Common stock dividends, per share	`CommonStockDividendsPerShareDeclared`	$0.35	USD	Point-in-time
Common stock dividends, per share	`CommonStockDividendsPerShareDeclared`	$0.70	USD	2 Qtrs
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.40B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.02B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.18B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.90B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.40B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.52B	USD	Point-in-time
Compensation on equity grants	`StockGrantedDuringPeriodValueSharebasedCompensationGross`	$29.90M	USD	2 Qtrs
Compensation on equity grants	`StockGrantedDuringPeriodValueSharebasedCompensationGross`	$15.00M	USD	1 Quarter
Compensation on equity grants	`StockGrantedDuringPeriodValueSharebasedCompensationGross`	$13.80M	USD	1 Quarter
Compensation on equity grants	`StockGrantedDuringPeriodValueSharebasedCompensationGross`	$27.30M	USD	2 Qtrs
Distribution equivalent rights	`DistributionEquivalentRights`	$3.40M	USD	2 Qtrs
Distribution equivalent rights	`DistributionEquivalentRights`	$1.00M	USD	1 Quarter
Distribution equivalent rights	`DistributionEquivalentRights`	$1.30M	USD	2 Qtrs
Distribution equivalent rights	`DistributionEquivalentRights`	$1.70M	USD	1 Quarter
Shares tendered for tax withholding obligations	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$8.60M	USD	2 Qtrs
Shares tendered for tax withholding obligations	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$22.50M	USD	2 Qtrs
Repurchases of common stock	`StockRepurchasedDuringPeriodValue`	$74.10M	USD	1 Quarter
Repurchases of common stock	`StockRepurchasedDuringPeriodValue`	$123.80M	USD	2 Qtrs
Preferred stock dividends	`DividendsPreferredStock`	$30.00M	USD	2 Qtrs
Preferred stock dividends	`DividendsPreferredStock`	$8.20M	USD	1 Quarter
Preferred stock dividends	`DividendsPreferredStock`	$43.70M	USD	2 Qtrs
Preferred stock dividends	`DividendsPreferredStock`	$21.80M	USD	1 Quarter
Deemed dividends - repurchase of Series A Preferred Stock	`DeemedPreferredStockDividendAccretionOfBeneficialConversionFeature`	$215.50M	USD	1 Quarter
Deemed dividends - repurchase of Series A Preferred Stock	`DeemedPreferredStockDividendAccretionOfBeneficialConversionFeature`	$215.50M	USD	2 Qtrs
Common stock dividends	`DividendsCommonStock`	$79.80M	USD	1 Quarter
Common stock dividends	`DividendsCommonStock`	$22.90M	USD	1 Quarter
Common stock dividends	`DividendsCommonStock`	$45.70M	USD	2 Qtrs
Common stock dividends	`DividendsCommonStock`	$159.80M	USD	2 Qtrs
Distributions to noncontrolling interests	`MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders`	$116.70M	USD	1 Quarter
Distributions to noncontrolling interests	`MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders`	$86.60M	USD	1 Quarter
Distributions to noncontrolling interests	`MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders`	$223.80M	USD	2 Qtrs
Distributions to noncontrolling interests	`MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders`	$158.80M	USD	2 Qtrs
Contributions from noncontrolling interests	`NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance`	$2.10M	USD	1 Quarter
Contributions from noncontrolling interests	`NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance`	$4.10M	USD	2 Qtrs
Contributions from noncontrolling interests	`NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance`	$9.00M	USD	2 Qtrs
Contributions from noncontrolling interests	`NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance`	$6.10M	USD	1 Quarter
Repurchase of noncontrolling interests, net of tax	`MinorityInterestDecreaseFromRedemptions`	$-911.00M	USD	2 Qtrs
Other comprehensive income (loss)	`OtherComprehensiveIncomeLoss`	$142.00M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLoss`	$-136.00M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLoss`	$-45.50M	USD	2 Qtrs
Other comprehensive income (loss)	`OtherComprehensiveIncomeLoss`	$-152.60M	USD	2 Qtrs
Net income (loss)	`ProfitLoss`	$383.30M	USD	2 Qtrs
Net income (loss)	`ProfitLoss`	$155.40M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$687.60M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$856.20M	USD	2 Qtrs
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.40B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.02B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.18B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.90B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.40B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.52B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.40B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.02B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.18B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.90B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.40B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.52B	USD	Point-in-time

Comprehensive Income 28 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`ProfitLoss`	$383.30M	USD	2 Qtrs
Net income (loss)	`ProfitLoss`	$155.40M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$687.60M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$856.20M	USD	2 Qtrs
Other comprehensive income (loss), pre-tax	`OtherComprehensiveIncomeLossBeforeTax`	$182.90M	USD	1 Quarter
Other comprehensive income (loss), pre-tax	`OtherComprehensiveIncomeLossBeforeTax`	$-58.60M	USD	2 Qtrs
Other comprehensive income (loss), pre-tax	`OtherComprehensiveIncomeLossBeforeTax`	$-200.80M	USD	2 Qtrs
Other comprehensive income (loss), pre-tax	`OtherComprehensiveIncomeLossBeforeTax`	$-179.00M	USD	1 Quarter
Other comprehensive income (loss), related income tax	`OtherComprehensiveIncomeLossTax`	$40.90M	USD	1 Quarter
Other comprehensive income (loss), related income tax	`OtherComprehensiveIncomeLossTax`	$-13.10M	USD	2 Qtrs
Other comprehensive income (loss), related income tax	`OtherComprehensiveIncomeLossTax`	$-43.00M	USD	1 Quarter
Other comprehensive income (loss), related income tax	`OtherComprehensiveIncomeLossTax`	$-48.20M	USD	2 Qtrs
Other comprehensive income (loss), after tax	`OtherComprehensiveIncomeLossNetOfTax`	$-136.00M	USD	1 Quarter
Other comprehensive income (loss), after tax	`OtherComprehensiveIncomeLossNetOfTax`	$142.00M	USD	1 Quarter
Other comprehensive income (loss), after tax	`OtherComprehensiveIncomeLossNetOfTax`	$-152.60M	USD	2 Qtrs
Other comprehensive income (loss), after tax	`OtherComprehensiveIncomeLossNetOfTax`	$-45.50M	USD	2 Qtrs
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$810.70M	USD	2 Qtrs
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$230.70M	USD	2 Qtrs
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$19.40M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$829.60M	USD	1 Quarter
Less: Comprehensive income (loss) attributable to noncontrolling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$180.70M	USD	2 Qtrs
Less: Comprehensive income (loss) attributable to noncontrolling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$91.20M	USD	1 Quarter
Less: Comprehensive income (loss) attributable to noncontrolling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$171.80M	USD	2 Qtrs
Less: Comprehensive income (loss) attributable to noncontrolling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$99.20M	USD	1 Quarter
Comprehensive income (loss) attributable to Targa Resources Corp.	`ComprehensiveIncomeNetOfTax`	$50.00M	USD	2 Qtrs
Comprehensive income (loss) attributable to Targa Resources Corp.	`ComprehensiveIncomeNetOfTax`	$738.40M	USD	1 Quarter
Comprehensive income (loss) attributable to Targa Resources Corp.	`ComprehensiveIncomeNetOfTax`	$-79.80M	USD	1 Quarter
Comprehensive income (loss) attributable to Targa Resources Corp.	`ComprehensiveIncomeNetOfTax`	$638.90M	USD	2 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.