XML 73 R61.htm IDEA: XBRL DOCUMENT
v3.20.2

Fair Value Measurements - Breakdown by Fair Value Hierarchy Category for Financial Instruments (Details) - USD ($) $ in Millions | Jun. 30, 2020 | Dec. 31, 2019
--- | --- | ---
Financial Instruments Recorded on Our Consolidated Balance Sheets at Fair Value: |  |  |
Assets from commodity derivative contracts |  | $ 108.1 | $ 79.8
Liabilities from commodity derivative contracts |  | 28.0 | 90.8
Carrying Value [Member] |  |  |
Financial Instruments Recorded on Our Consolidated Balance Sheets at Fair Value: |  |  |
Assets from commodity derivative contracts | [1] | 164.0 | 136.5
Liabilities from commodity derivative contracts | [1] | 132.1 | 142.6
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value: |  |  |
Cash and cash equivalents |  | 196.2 | 331.1
Carrying Value [Member] | TRC Revolver [Member] |  |  |
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value: |  |  |
Long-term debt |  | 435.0 | 435.0
Carrying Value [Member] | TRP Revolver [Member] |  |  |
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value: |  |  |
Long-term debt |  | 440.0 | 0.0
Carrying Value [Member] | Partnership's Securitization Facility [Member] |  |  |
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value: |  |  |
Long-term debt |  | 250.0 | 370.0
Carrying Value [Member] | Senior Unsecured Notes [Member] |  |  |
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value: |  |  |
Long-term debt |  | 6,725.1 | 7,028.5
Estimate of Fair Value Measurement |  |  |
Financial Instruments Recorded on Our Consolidated Balance Sheets at Fair Value: |  |  |
Assets from commodity derivative contracts | [1] | 164.0 | 136.5
Liabilities from commodity derivative contracts | [1] | 132.1 | 142.6
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value: |  |  |
Cash and cash equivalents |  | 196.2 | 331.1
Estimate of Fair Value Measurement | Level 1 [Member] |  |  |
Financial Instruments Recorded on Our Consolidated Balance Sheets at Fair Value: |  |  |
Assets from commodity derivative contracts | [1] | 0.0 | 0.0
Liabilities from commodity derivative contracts | [1] | 0.0 | 0.0
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value: |  |  |
Cash and cash equivalents |  | 0.0 | 0.0
Estimate of Fair Value Measurement | Level 2 [Member] |  |  |
Financial Instruments Recorded on Our Consolidated Balance Sheets at Fair Value: |  |  |
Assets from commodity derivative contracts | [1] | 164.0 | 136.2
Liabilities from commodity derivative contracts | [1] | 132.1 | 142.0
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value: |  |  |
Cash and cash equivalents |  | 0.0 | 0.0
Estimate of Fair Value Measurement | Level 3 [Member] |  |  |
Financial Instruments Recorded on Our Consolidated Balance Sheets at Fair Value: |  |  |
Assets from commodity derivative contracts | [1] | 0.0 | 0.3
Liabilities from commodity derivative contracts | [1] | 0.0 | 0.6
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value: |  |  |
Cash and cash equivalents |  | 0.0 | 0.0
Estimate of Fair Value Measurement | TRC Revolver [Member] |  |  |
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value: |  |  |
Long-term debt |  | 435.0 | 435.0
Estimate of Fair Value Measurement | TRC Revolver [Member] | Level 1 [Member] |  |  |
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value: |  |  |
Long-term debt |  | 0.0 | 0.0
Estimate of Fair Value Measurement | TRC Revolver [Member] | Level 2 [Member] |  |  |
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value: |  |  |
Long-term debt |  | 435.0 | 435.0
Estimate of Fair Value Measurement | TRC Revolver [Member] | Level 3 [Member] |  |  |
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value: |  |  |
Long-term debt |  | 0.0 | 0.0
Estimate of Fair Value Measurement | TRP Revolver [Member] |  |  |
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value: |  |  |
Long-term debt |  | 440.0 | 0.0
Estimate of Fair Value Measurement | TRP Revolver [Member] | Level 1 [Member] |  |  |
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value: |  |  |
Long-term debt |  | 0.0 | 0.0
Estimate of Fair Value Measurement | TRP Revolver [Member] | Level 2 [Member] |  |  |
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value: |  |  |
Long-term debt |  | 440.0 | 0.0
Estimate of Fair Value Measurement | TRP Revolver [Member] | Level 3 [Member] |  |  |
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value: |  |  |
Long-term debt |  | 0.0 | 0.0
Estimate of Fair Value Measurement | Partnership's Securitization Facility [Member] |  |  |
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value: |  |  |
Long-term debt |  | 250.0 | 370.0
Estimate of Fair Value Measurement | Partnership's Securitization Facility [Member] | Level 1 [Member] |  |  |
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value: |  |  |
Long-term debt |  | 0.0 | 0.0
Estimate of Fair Value Measurement | Partnership's Securitization Facility [Member] | Level 2 [Member] |  |  |
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value: |  |  |
Long-term debt |  | 250.0 | 370.0
Estimate of Fair Value Measurement | Partnership's Securitization Facility [Member] | Level 3 [Member] |  |  |
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value: |  |  |
Long-term debt |  | 0.0 | 0.0
Estimate of Fair Value Measurement | Senior Unsecured Notes [Member] |  |  |
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value: |  |  |
Long-term debt |  | 6,627.2 | 7,376.9
Estimate of Fair Value Measurement | Senior Unsecured Notes [Member] | Level 1 [Member] |  |  |
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value: |  |  |
Long-term debt |  | 0.0 | 0.0
Estimate of Fair Value Measurement | Senior Unsecured Notes [Member] | Level 2 [Member] |  |  |
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value: |  |  |
Long-term debt |  | 6,627.2 | 7,376.9
Estimate of Fair Value Measurement | Senior Unsecured Notes [Member] | Level 3 [Member] |  |  |
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value: |  |  |
Long-term debt |  | 0.0 | 0.0
Targa Pipeline Partners LP [Member] | Carrying Value [Member] |  |  |
Financial Instruments Recorded on Our Consolidated Balance Sheets at Fair Value: |  |  |
Additional cash paid in potential earn-out payment | [2] | 2.3 | 2.3
Targa Pipeline Partners LP [Member] | Estimate of Fair Value Measurement |  |  |
Financial Instruments Recorded on Our Consolidated Balance Sheets at Fair Value: |  |  |
Additional cash paid in potential earn-out payment | [2] | 2.3 | 2.3
Targa Pipeline Partners LP [Member] | Estimate of Fair Value Measurement | Level 1 [Member] |  |  |
Financial Instruments Recorded on Our Consolidated Balance Sheets at Fair Value: |  |  |
Additional cash paid in potential earn-out payment | [2] | 0.0 | 0.0
Targa Pipeline Partners LP [Member] | Estimate of Fair Value Measurement | Level 2 [Member] |  |  |
Financial Instruments Recorded on Our Consolidated Balance Sheets at Fair Value: |  |  |
Additional cash paid in potential earn-out payment | [2] | 0.0 | 0.0
Targa Pipeline Partners LP [Member] | Estimate of Fair Value Measurement | Level 3 [Member] |  |  |
Financial Instruments Recorded on Our Consolidated Balance Sheets at Fair Value: |  |  |
Additional cash paid in potential earn-out payment | [2] | $ 2.3 | $ 2.3
[1] | The fair value of derivative contracts in this table is presented on a different basis than the Consolidated Balance Sheets presentation as disclosed in Note 11 –Derivative Instruments and Hedging Activities. The above fair values reflect the total value of each derivative contract taken as a whole, whereas the Consolidated Balance Sheets presentation is based on the individual maturity dates of estimated future settlements. As such, an individual contract could have both an asset and liability position when segregated into its current and long-term portions for Consolidated Balance Sheets classification purposes.
[2] | We have a contingent consideration liability for TPL’s previous acquisition of a gas gathering system and related assets, which is carried at fair value.

X
- Definition Financial instruments recorded on our consolidated balance sheets at carrying value. + References No definition available. + Details
Name: | trgp_FinancialInstrumentsRecordedOnOurConsolidatedBalanceSheetsAtCarryingValueAbstract
Namespace Prefix: | trgp_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Financial instruments recorded on our consolidated balance sheets at fair value. + References No definition available. + Details
Name: | trgp_FinancialInstrumentsRecordedOnOurConsolidatedBalanceSheetsAtFairValueAbstract
Namespace Prefix: | trgp_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount of liability recognized arising from contingent consideration in a business combination. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e6927-128479 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 35 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=116859824&loc=d3e6819-128478 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 25 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6911189&loc=d3e6408-128476 + Details
Name: | us-gaap_BusinessCombinationContingentConsiderationLiability
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Fair value portion of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. + References No definition available. + Details
Name: | us-gaap_CashAndCashEquivalentsFairValueDisclosure
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Fair value portion of debt instrument payable, including, but not limited to, notes payable and loans payable. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=118260190&loc=d3e13433-108611 + Details
Name: | us-gaap_DebtInstrumentFairValue
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 55 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=99393222&loc=SL20226008-175313 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=118260190&loc=d3e13433-108611 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312 + Details
Name: | us-gaap_DerivativeAssets
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and not elected to be offset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=118260190&loc=d3e13433-108611 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 55 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=99393222&loc=SL20226008-175313 + Details
Name: | us-gaap_DerivativeLiabilities
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Details
Name: | us-gaap_FairValueByMeasurementBasisAxis=us-gaap_CarryingReportedAmountFairValueDisclosureMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=trgp_TRCRevolverMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=trgp_TRPRevolverMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=trgp_PartnershipsSecuritizationFacilityMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=us-gaap_UnsecuredDebtMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByMeasurementBasisAxis=us-gaap_EstimateOfFairValueFairValueDisclosureMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_BusinessAcquisitionAxis=trgp_TargaPipelinePartnersLPMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |