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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 242.8 $ 331.1
Trade receivables, net of allowances of $0.1 and $0.0 million at December 31, 2020 and December 31, 2019 862.8 855.0
Inventories 181.5 161.5
Assets from risk management activities 85.5 103.3
Held for sale assets 0.0 137.7
Other current assets 87.7 69.7
Total current assets 1,460.3 1,658.3
Property, plant and equipment, net 12,173.6 14,548.5
Intangible assets, net 1,382.4 1,735.0
Long-term assets from risk management activities 49.3 35.5
Investments in unconsolidated affiliates 714.0 738.7
Other long-term assets 96.1 99.1
Total assets 15,875.7 18,815.1
Current liabilities:    
Accounts payable 833.8 954.8
Accrued liabilities 186.4 176.8
Distributions payable 115.4 122.6
Interest payable 132.6 125.7
Liabilities from risk management activities 142.6 104.1
Current debt obligations 368.6 382.2
Held for sale liabilities 0.0 6.4
Total current liabilities 1,779.4 1,872.6
Long-term debt 7,387.1 7,440.2
Long-term liabilities from risk management activities 43.4 40.8
Deferred income taxes, net 152.1 434.2
Other long-term liabilities 309.1 305.6
Contingencies (see Note 19) 0.0 0.0
Targa Resources Corp. stockholders' equity:    
Common stock value 0.2 0.2
Preferred stock ($0.001 par value, after designation of Series A Preferred Stock: 98,800,000 shares authorized, no shares issued and outstanding) 0.0 0.0
Additional paid-in capital 4,839.9 5,221.2
Retained earnings (deficit) (1,893.5) (339.6)
Accumulated other comprehensive income (loss) (141.8) 92.5
Treasury stock, at cost (6,731,035 shares as of December 31, 2020 and 1,009,284 shares as of December 31, 2019) (150.9) (53.5)
Total Targa Resources Corp. stockholders' equity 2,653.9 4,920.8
Noncontrolling interests 3,249.3 3,522.1
Total owners' equity 5,903.2 8,442.9
Total liabilities, Series A Preferred Stock and owners' equity 15,875.7 18,815.1
Series A Preferred Stock [Member]    
Current liabilities:    
Series A Preferred 9.5% Stock, $1,000 per share liquidation preference, (1,200,000 shares authorized, 919,300 shares issued and outstanding as of December 31, 2020 and 965,100 shares as of December 31, 2019), net of discount (see Note 11) $ 301.4 $ 278.8