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Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2024
Fair Value Disclosures [Abstract] |
Breakdown by Fair Value Hierarchy Category for Financial Instruments Included in Consolidated Balance Sheets | The following table shows a breakdown by fair value hierarchy category for (i) financial instruments measurements included on our Consolidated Balance Sheets at fair value, and (ii) supplemental fair value disclosures for other financial instruments:
|  | June 30, 2024 |
|  | Carrying |  |  | Fair Value |
|  | Value |  |  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Financial Instruments Recorded on Our Consolidated Balance Sheets at Fair Value: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Assets from commodity derivative contracts (1) |  | $ | 79.4 |  |  | $ | 79.4 |  |  | $ | — |  |  | $ | 79.4 |  |  | $ | — |
Liabilities from commodity derivative contracts (1) |  |  | 177.0 |  |  |  | 177.0 |  |  |  | — |  |  |  | 177.0 |  |  |  | — |
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  | 166.4 |  |  |  | 166.4 |  |  |  | — |  |  |  | — |  |  |  | — |
TRGP Revolver and Commercial Paper Program |  |  | 1,303.0 |  |  |  | 1,303.0 |  |  |  | — |  |  |  | 1,303.0 |  |  |  | — |
TRGP Senior unsecured notes |  |  | 6,470.5 |  |  |  | 6,452.5 |  |  |  | — |  |  |  | 6,452.5 |  |  |  | — |
Partnership’s Senior unsecured notes |  |  | 5,034.4 |  |  |  | 4,890.8 |  |  |  | — |  |  |  | 4,890.8 |  |  |  | — |
Securitization Facility |  |  | 550.0 |  |  |  | 550.0 |  |  |  | — |  |  |  | 550.0 |  |  |  | — |
|  | December 31, 2023 |
|  | Carrying |  |  | Fair Value |
|  | Value |  |  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Financial Instruments Recorded on Our Consolidated Balance Sheets at Fair Value: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Assets from commodity derivative contracts (1) |  | $ | 144.6 |  |  | $ | 144.6 |  |  | $ | — |  |  | $ | 144.6 |  |  | $ | — |
Liabilities from commodity derivative contracts (1) |  |  | 70.2 |  |  |  | 70.2 |  |  |  | — |  |  |  | 70.2 |  |  |  | — |
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  | 141.7 |  |  |  | 141.7 |  |  |  | — |  |  |  | — |  |  |  | — |
TRGP Revolver and Commercial Paper Program |  |  | 175.0 |  |  |  | 175.0 |  |  |  | — |  |  |  | 175.0 |  |  |  | — |
TRGP Senior unsecured notes |  |  | 6,470.5 |  |  |  | 6,598.7 |  |  |  | — |  |  |  | 6,598.7 |  |  |  | — |
Term Loan Facility |  |  | 500.0 |  |  |  | 500.0 |  |  |  | — |  |  |  | 500.0 |  |  |  | — |
Partnership’s Senior unsecured notes |  |  | 5,034.4 |  |  |  | 4,945.1 |  |  |  | — |  |  |  | 4,945.1 |  |  |  | — |
Securitization Facility |  |  | 575.0 |  |  |  | 575.0 |  |  |  | — |  |  |  | 575.0 |  |  |  | — |
(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 10 – 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.

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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-11 + Details
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