Compensation Plans (Details) (USD $) | 0 Months Ended | 12 Months Ended |
In Millions, except Share data, unless otherwise specified | Jan. 14, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Weighted Average Grant Date Fair Value [Abstract] | ' | ' | | ' | | ' | |
Compensation expenses recognized | ' | $6 | | $3.60 | | $1.50 | |
Vesting percentage of IPO stock awards over 24 months (in hundredths) | ' | 60.00% | | ' | | ' | |
Vesting percentage of IPO stock awards over 36 months (in hundredths) | ' | 40.00% | | ' | | ' | |
Stock repurchased from employees (in shares) | ' | 169,159 | | 197,731 | | ' | |
Stock repurchase price (in dollars per share) | ' | $79.01 | | $47.88 | | ' | |
Defined contribution plan [Abstract] | ' | ' | | ' | | ' | |
Description of 401(k) plan | ' | 'Targa has a 401(k) plan whereby it matches 100% of up to 5% of an employeebs contribution (subject to certain limitations in the plan).B Targa also contributes an amount equal to 3% of each employeebs eligible compensation to the plan as a retirement contribution and may make additional contributions at our sole discretion. All Targa contributions are made 100% in cash. Targa made contributions to the 401(k) plan totaling $9.6 million, $8.7 million, and $7.8 million during 2013, 2012 and 2011. | | ' | | ' | |
Employer matching contribution percent (in hundredths) | ' | 100.00% | | ' | | ' | |
Maximum annual contribution per employee percent (in hundredths) | ' | 5.00% | | ' | | ' | |
Contribution per employee percent (in hundredths) | ' | 3.00% | | ' | | ' | |
Contributions to defined contribution plan | ' | 9.6 | | 8.7 | | 7.8 | |
Performance Awards Equity Settled [Member] | ' | ' | | ' | | ' | |
Share based compensation arrangements [Roll Forward] | ' | ' | | ' | | ' | |
Unit outstanding, beginning of year (in shares) | 552,198 | 307,620 | | 135,870 | | 0 | |
Granted (in shares) | 111,745 | 244,578 | | 171,750 | | 135,870 | |
Units outstanding, end of year (in shares) | ' | 552,198 | | 307,620 | | 135,870 | |
Liabilities recognized [Abstract] | ' | ' | | ' | | ' | |
To be recognized in future periods | ' | 16.3 | | ' | | ' | |
Weighted Average Grant Date Fair Value [Abstract] | ' | ' | | ' | | ' | |
Outstanding, beginning of period (in dollars per share) | $42.01 | $38.40 | | $33.94 | | $0 | |
Granted (in dollars per share) | ' | $46.54 | | $41.94 | | $33.94 | |
Outstanding, end of period (in dollars per share) | ' | $42.01 | | $38.40 | | $33.94 | |
Compensation expenses recognized | ' | 5.5 | | 3.1 | | 1 | |
Unrecognized compensation expenses | ' | 16.3 | | ' | | ' | |
Weighted average recognition period for the unrecognized compensation cost | ' | '2 years | | ' | | ' | |
Performance Awards Cash Settled [Member] | ' | ' | | ' | | ' | |
Weighted Average Grant Date Fair Value [Abstract] | ' | ' | | ' | | ' | |
Compensation expenses recognized | ' | 21.9 | | 14.2 | | 13.3 | |
Weighted average recognition period for the unrecognized compensation cost | ' | '1 year 9 months 18 days | | ' | | ' | |
Fair value of units vested during the period | ' | 25.2 | | 22.2 | | 5.5 | |
Director Grants [Member] | ' | ' | | ' | | ' | |
Weighted Average Grant Date Fair Value [Abstract] | ' | ' | | ' | | ' | |
Compensation expenses recognized | ' | 0.5 | | 0.5 | | 0.5 | |
Fair value of units vested during the period | ' | 0.7 | | 1 | | 1 | |
Restricted Stock [Member] | ' | ' | | ' | | ' | |
Weighted Average Grant Date Fair Value [Abstract] | ' | ' | | ' | | ' | |
Recognized tax benefits | ' | 1.6 | | 1.3 | | ' | |
Restricted Stock [Member] | Long Term Incentive Plan 2010 Plan [Member] | ' | ' | | ' | | ' | |
Liabilities recognized [Abstract] | ' | ' | | ' | | ' | |
To be recognized in future periods | ' | 3.3 | | ' | | ' | |
Weighted Average Grant Date Fair Value [Abstract] | ' | ' | | ' | | ' | |
Compensation expenses recognized | ' | 6.3 | | 13.7 | | 13.4 | |
Unrecognized compensation expenses | ' | 3.3 | | ' | | ' | |
Weighted average recognition period for the unrecognized compensation cost | ' | '1 year 7 months 6 days | | ' | | ' | |
Restricted Stock Units (RSUs) [Member] | Long Term Incentive Plan 2010 Plan [Member] | ' | ' | | ' | | ' | |
Liabilities recognized [Abstract] | ' | ' | | ' | | ' | |
To be recognized in future periods | ' | 3.6 | | ' | | ' | |
Weighted Average Grant Date Fair Value [Abstract] | ' | ' | | ' | | ' | |
Compensation expenses recognized | ' | 0.4 | | 0 | | 0 | |
Unrecognized compensation expenses | ' | 3.6 | | ' | | ' | |
Weighted average recognition period for the unrecognized compensation cost | ' | '2 years 9 months 18 days | | ' | | ' | |
Accrued Dividends Settled [Member] | ' | ' | | ' | | ' | |
Weighted Average Grant Date Fair Value [Abstract] | ' | ' | | ' | | ' | |
Fair value of units vested during the period | ' | 2.4 | | 2 | | 0 | |
Partnership Long-term Incentive Plan [Member] | ' | ' | | ' | | ' | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | | ' | | ' | |
Total units authorized (in shares) | ' | 1,680,000 | | ' | | ' | |
Vesting period | ' | '3 years | | ' | | ' | |
Share based compensation arrangements [Roll Forward] | ' | ' | | ' | | ' | |
Unit outstanding, beginning of year (in shares) | ' | 569,623 | | ' | | ' | |
Granted (in shares) | ' | 152,170 | | ' | | ' | |
Vested and paid (in shares) | ' | -305,853 | | ' | | ' | |
Forfeited (in shares) | ' | -3,650 | | ' | | ' | |
Units outstanding, end of year (in shares) | ' | 412,290 | | ' | | ' | |
Calculated fair market value as of December 31, 2013 | ' | 28.6 | | ' | | ' | |
Liabilities recognized [Abstract] | ' | ' | | ' | | ' | |
Current liability | ' | 8.7 | | ' | | ' | |
Long-term liability | ' | 5.9 | | ' | | ' | |
Liability as of December 31, 2013 | ' | 14.6 | | ' | | ' | |
To be recognized in future periods | ' | 14 | | ' | | ' | |
Weighted Average Grant Date Fair Value [Abstract] | ' | ' | | ' | | ' | |
Unrecognized compensation expenses | ' | 14 | | ' | | ' | |
Partnership Long-term Incentive Plan [Member] | Long Term Incentive Plan 2010 Plan [Member] | ' | ' | | ' | | ' | |
Share based compensation arrangements [Roll Forward] | ' | ' | | ' | | ' | |
Unit outstanding, beginning of year (in shares) | ' | 306,253 | | ' | | ' | |
Granted (in shares) | ' | 0 | | ' | | ' | |
Vested and paid (in shares) | ' | -305,853 | | ' | | ' | |
Forfeited (in shares) | ' | -400 | | ' | | ' | |
Units outstanding, end of year (in shares) | ' | 0 | | ' | | ' | |
Partnership Long-term Incentive Plan [Member] | Long Term Incentive Plan 2011 Plan [Member] | ' | ' | | ' | | ' | |
Share based compensation arrangements [Roll Forward] | ' | ' | | ' | | ' | |
Unit outstanding, beginning of year (in shares) | ' | 122,550 | | ' | | ' | |
Granted (in shares) | ' | 3,000 | | ' | | ' | |
Vested and paid (in shares) | ' | 0 | | ' | | ' | |
Forfeited (in shares) | ' | -680 | | ' | | ' | |
Units outstanding, end of year (in shares) | ' | 124,870 | | ' | | ' | |
Calculated fair market value as of December 31, 2013 | ' | 10.6 | | ' | | ' | |
Liabilities recognized [Abstract] | ' | ' | | ' | | ' | |
Current liability | ' | 8.7 | | ' | | ' | |
Long-term liability | ' | 0 | | ' | | ' | |
Liability as of December 31, 2013 | ' | 8.7 | | ' | | ' | |
To be recognized in future periods | ' | 1.9 | | ' | | ' | |
Vesting date | ' | 30-Jun-14 | | ' | | ' | |
Weighted Average Grant Date Fair Value [Abstract] | ' | ' | | ' | | ' | |
Unrecognized compensation expenses | ' | 1.9 | | ' | | ' | |
Partnership Long-term Incentive Plan [Member] | Long Term Incentive Plan 2012 Plan [Member] | ' | ' | | ' | | ' | |
Share based compensation arrangements [Roll Forward] | ' | ' | | ' | | ' | |
Unit outstanding, beginning of year (in shares) | ' | 140,820 | | ' | | ' | |
Granted (in shares) | ' | 3,200 | | ' | | ' | |
Vested and paid (in shares) | ' | 0 | | ' | | ' | |
Forfeited (in shares) | ' | -1,560 | | ' | | ' | |
Units outstanding, end of year (in shares) | ' | 142,460 | | ' | | ' | |
Calculated fair market value as of December 31, 2013 | ' | 10.4 | | ' | | ' | |
Liabilities recognized [Abstract] | ' | ' | | ' | | ' | |
Current liability | ' | 0 | | ' | | ' | |
Long-term liability | ' | 4.9 | | ' | | ' | |
Liability as of December 31, 2013 | ' | 4.9 | | ' | | ' | |
To be recognized in future periods | ' | 5.5 | | ' | | ' | |
Vesting date | ' | 30-Jun-15 | | ' | | ' | |
Weighted Average Grant Date Fair Value [Abstract] | ' | ' | | ' | | ' | |
Unrecognized compensation expenses | ' | 5.5 | | ' | | ' | |
Partnership Long-term Incentive Plan [Member] | Long Term Incentive Plan 2013 Plan [Member] | ' | ' | | ' | | ' | |
Share based compensation arrangements [Roll Forward] | ' | ' | | ' | | ' | |
Unit outstanding, beginning of year (in shares) | ' | 0 | | ' | | ' | |
Granted (in shares) | ' | 145,970 | | ' | | ' | |
Vested and paid (in shares) | ' | 0 | | ' | | ' | |
Forfeited (in shares) | ' | -1,010 | | ' | | ' | |
Units outstanding, end of year (in shares) | ' | 144,960 | | ' | | ' | |
Calculated fair market value as of December 31, 2013 | ' | 7.6 | | ' | | ' | |
Liabilities recognized [Abstract] | ' | ' | | ' | | ' | |
Current liability | ' | 0 | | ' | | ' | |
Long-term liability | ' | 1 | | ' | | ' | |
Liability as of December 31, 2013 | ' | 1 | | ' | | ' | |
To be recognized in future periods | ' | 6.6 | | ' | | ' | |
Vesting date | ' | 30-Jun-16 | | ' | | ' | |
Weighted Average Grant Date Fair Value [Abstract] | ' | ' | | ' | | ' | |
Unrecognized compensation expenses | ' | 6.6 | | ' | | ' | |
Partnership Long-term Incentive Plan [Member] | Director Grants [Member] | ' | ' | | ' | | ' | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | | ' | | ' | |
Vesting period | ' | '3 years | | ' | | ' | |
Share based compensation arrangements [Roll Forward] | ' | ' | | ' | | ' | |
Unit outstanding, beginning of year (in shares) | 0 | 4,500 | | 19,831 | | 39,074 | |
Granted (in shares) | 8,740 | 12,780 | | 9,980 | | 10,600 | |
Vested and paid (in shares) | ' | -17,280 | | -25,311 | | -29,843 | |
Units outstanding, end of year (in shares) | ' | 0 | | 4,500 | | 19,831 | |
Weighted Average Grant Date Fair Value [Abstract] | ' | ' | | ' | | ' | |
Outstanding, beginning of period (in dollars per share) | $0 | $23.51 | | $16.31 | | $16.12 | |
Granted (in dollars per share) | ' | $39.33 | | $38.72 | | $33.53 | |
Vested and paid (in dollars per share) | ' | $35.21 | | $23.86 | | $22.18 | |
Outstanding, end of period (in dollars per share) | ' | $0 | | $23.51 | | $16.31 | |
Units granted to non-management directors, per director (in units) | 1,748 | ' | | ' | | ' | |
TRC Stock Incentive Plan [Member] | Restricted Stock [Member] | ' | ' | | ' | | ' | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | | ' | | ' | |
Vesting period | '3 years | ' | | ' | | ' | |
Share based compensation arrangements [Roll Forward] | ' | ' | | ' | | ' | |
Unit outstanding, beginning of year (in shares) | 203,973 | 711,030 | | 1,434,220 | | 1,350,000 | [1] |
Granted (in shares) | 22,017 | 30,623 | [2] | 91,090 | [2] | 84,220 | [2] |
Vested and paid (in shares) | ' | -534,940 | [3] | -805,350 | [3] | ' | |
Forfeited (in shares) | ' | -2,740 | | -8,930 | | ' | |
Units outstanding, end of year (in shares) | ' | 203,973 | | 711,030 | | 1,434,220 | |
Weighted Average Grant Date Fair Value [Abstract] | ' | ' | | ' | | ' | |
Outstanding, beginning of period (in dollars per share) | $41.05 | $25.95 | | $22.67 | | $22 | [1] |
Granted (in dollars per share) | ' | $57.59 | [2] | $42.50 | [2] | $33.39 | [2] |
Vested and paid (in dollars per share) | ' | $22 | [3] | $22 | [3] | ' | |
Forfeited (in dollars per share) | ' | $27.28 | | $23.99 | | ' | |
Outstanding, end of period (in dollars per share) | ' | $41.05 | | $25.95 | | $22.67 | |
Fair value of units vested during the period | ' | $42.20 | [4] | $40.30 | [4] | $0 | [4] |
TRC Stock Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member] | ' | ' | | ' | | ' | |
Share based compensation arrangements [Roll Forward] | ' | ' | | ' | | ' | |
Unit outstanding, beginning of year (in shares) | ' | 0 | | ' | | ' | |
Granted (in shares) | ' | 55,790 | | ' | | ' | |
Forfeited (in shares) | ' | -240 | | ' | | ' | |
Units outstanding, end of year (in shares) | ' | 55,550 | | ' | | ' | |
Weighted Average Grant Date Fair Value [Abstract] | ' | ' | | ' | | ' | |
Granted (in dollars per share) | ' | $69.90 | | ' | | ' | |
Forfeited (in dollars per share) | ' | $67.07 | | ' | | ' | |
Outstanding, end of period (in dollars per share) | ' | $69.92 | | ' | | ' | |
TRC Incentive Plan [Member] | Restricted Stock [Member] | ' | ' | | ' | | ' | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | | ' | | ' | |
Total units authorized (in shares) | ' | 5,000,000 | | ' | | ' | |
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[1] | These awards were issued in conjunction with the Targa IPO and vest over a three year period at 60% in 2012 and the remaining 40% in 2013. |
[2] | These awards will cliff vest at the end of three years. |
[3] | Awards vested in 2013 and 2012 were 40% and 60% of the awards issued in conjunction with the Targa IPO, net of forfeitures. Targa repurchased 169,159 and 197,731 shares from employees at $79.01 and $47.88 per share in 2013 and 2012 to satisfy the employeesb minimum statutory tax withholdings on the vested awards. The repurchased shares are recorded in treasury stock at cost. |
[4] | Targa recognized $1.6 million and $1.3 million in tax benefits for 2013 and 2012 that were associated with the vesting of the 40% and 60% restricted stock related to Targa IPO. |