Targa Resources Partners (NGLS-PA) 10-Q 7 Nov 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2019	Nov. 01, 2019
Cover [Abstract]
Entity Registrant Name	TARGA RESOURCES PARTNERS LP
Trading Symbol	NGLS
Entity Central Index Key	0001379661
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Preferred Units Outstanding		5,000,000
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2019
Entity Small Business	false
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Entity Tax Identification Number	65-1295427
Entity File Number	001-33303
Entity Address, Address Line One	811 Louisiana St
Entity Address, Address Line Two	Suite 2100
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77002
City Area Code	713
Local Phone Number	584-1000
Entity Interactive Data Current	Yes
Title of 12(b) Security	9.0% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units
Security Exchange Name	NYSE
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 294.9	$ 203.3
Trade receivables, net of allowances of $0.0 and $0.1 million at September 30, 2019 and December 31, 2018	742.9	864.4
Inventories	210.9	164.7
Assets from risk management activities	140.1	115.3
Other current assets	43.4	32.2
Total current assets	1,432.2	1,379.9
Property, plant and equipment	19,589.1	17,213.8
Accumulated depreciation and amortization	(4,892.4)	(4,285.5)
Property, plant and equipment, net	14,696.7	12,928.3
Intangible assets, net	1,854.4	1,983.2
Goodwill, net	46.6	46.6
Long-term assets from risk management activities	60	34.1
Investments in unconsolidated affiliates	718.5	490.5
Other long-term assets	49.9	27.5
Total assets	18,858.3	16,890.1
Current liabilities:
Accounts payable and accrued liabilities	1,234.8	1,636.9
Accounts payable to Targa Resources Corp.	194	187.4
Liabilities from risk management activities	83.5	33.6
Current debt obligations	258	1,027.9
Total current liabilities	1,770.3	2,885.8
Long-term debt	6,844.7	5,197.4
Long-term liabilities from risk management activities	46.1	3.1
Deferred income taxes, net	23.9	23.9
Other long-term liabilities	261.7	233.8
Contingencies (see Note 16)
Owners' equity:
Series A preferred limited partners (5,000,000 and 5,000,000 units issued and 5,000,000 and 5,00,000 outstanding as of June 30, 2019 and December 31, 2018)	120.6	120.6
Common limited partners (275,168,410 and 275,168,410 units issued and 275,168,410 and 275,168,410 outstanding as of June 30, 2019 and December 31, 2018)	5,437.1	6,227.2
General partner (5,629,136 and 5,629,136 units issued and 5,629,136 and 5,629,136 outstanding as of June 30, 2019 and December 31, 2018)	786.4	802.6
Accumulated other comprehensive income (loss)	186.6	124.9
Partners' Capital	6,530.7	7,275.3
Noncontrolling interests	3,380.9	1,270.8
Total owners' equity	9,911.6	8,546.1
Total liabilities and owners' equity	$ 18,858.3	$ 16,890.1

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Current assets:
Trade receivables, allowances	$ 0	$ 0.1
Owners' equity:
Common limited partners units issued (in units)	275,168,410	275,168,410
Common limited partners units outstanding (in units)	275,168,410	275,168,410
General partner units issued (in units)	5,629,136	5,629,136
General partner units outstanding (in units)	5,629,136	5,629,136
Series A Preferred Limited Partner Units [Member]
Owners' equity:
Series A preferred limited partners units issued (in units)	5,000,000	5,000,000
Series A preferred limited partners units outstanding (in units)	5,000,000	5,000,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenues:
Total revenues	$ 1,902.5	$ 2,986.4	$ 6,197.2	$ 7,886.3
Costs and expenses:
Product purchases	1,328.1	2,383.5	4,415.7	6,229.7
Operating expenses	200.2	194.9	600.7	538.7
Depreciation and amortization expense	244.3	206.3	718.9	607.1
General and administrative expense	65.6	59.3	212.3	165
Other operating (income) expense	18.4	61.8	21.7	15.7
Income (loss) from operations	45.9	80.6	227.9	330.1
Other income (expense):
Interest expense, net	(84.2)	(75.7)	(229.2)	(113.3)
Equity earnings (loss)	10	3	15.9	6.4
Gain (loss) from financing activities	0	0	(1.4)	(1.3)
Gain (loss) from sale of equity-method investment	65.8	0	65.8	0
Change in contingent considerations	0	(16.6)	(8.8)	(12.1)
Income (loss) before income taxes	37.5	(8.7)	70.2	209.8
Income tax (expense) benefit	0	0	0	0
Net income (loss)	37.5	(8.7)	70.2	209.8
Less: Net income (loss) attributable to noncontrolling interests	76.6	9.7	144.3	32
Net income (loss) attributable to Targa Resources Partners LP	(39.1)	(18.4)	(74.1)	177.8
Net income attributable to preferred limited partners	2.8	2.8	8.4	8.4
Net income (loss) attributable to general partner	(0.9)	(0.4)	(1.7)	3.4
Net income (loss) attributable to common limited partners	(41)	(20.8)	(80.8)	166
Net income (loss) attributable to Targa Resources Partners LP	(39.1)	(18.4)	(74.1)	177.8
Sales of Commodities [Member]
Revenues:
Total revenues	1,594.2	2,654.1	5,254.8	6,981.4
Fees from Midstream Services [Member]
Revenues:
Total revenues	$ 308.3	$ 332.3	$ 942.4	$ 904.9

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Net income (loss)	$ 37.5	$ (8.7)	$ 70.2	$ 209.8
Other comprehensive income (loss):
Other comprehensive income (loss)	76.7	(115.7)	61.7	(119.7)
Comprehensive income (loss)	114.2	(124.4)	131.9	90.1
Less: Comprehensive income (loss) attributable to noncontrolling interests	76.6	9.7	144.3	32
Comprehensive income (loss) attributable to Targa Resources Partners LP	37.6	(134.1)	(12.4)	58.1
Commodity Contracts [Member]
Other comprehensive income (loss):
Change in fair value	118.2	(139.6)	167.8	(178)
Settlements reclassified to revenues	$ (41.5)	$ 23.9	$ (106.1)	$ 58.3

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN OWNERS' EQUITY (Unaudited) - USD ($) shares in Thousands, $ in Millions	Total	Limited Partner Preferred [Member]	Limited Partners Common [Member]	General Partner Units [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Non-controlling Interests [Member]
Balance at Dec. 31, 2017	$ 7,858.2	$ 120.6	$ 6,500.3	$ 808.2	$ (46)	$ 475.1
Balance (in units) at Dec. 31, 2017		5,000	275,168	5,629
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Contributions from Targa Resources Corp.	540	$ 0	$ 529.2	$ 10.8	0	0
Contributions from Targa Resources Corp. (in units)		0	0	0
Acquisition of related party (see Note 15)	1.1	$ 0	$ 0	$ 0	0	1.1
Purchase of noncontrolling interests in subsidiaries, net	(0.1)	0	0	0	0	(0.1)
Distributions to noncontrolling interests	(51.5)	0	0	0	0	(51.5)
Contributions from noncontrolling interests	611.6	0	0	0	0	611.6
Other comprehensive income (loss)	(119.7)	0	0	0	(119.7)	0
Net income (loss)	209.8	8.4	166	3.4	0	32
Distributions	(692.1)	(8.4)	(670)	(13.7)	0	0
Balance at Sep. 30, 2018	8,357.3	$ 120.6	$ 6,525.5	$ 808.7	(165.7)	1,068.2
Balance (in units) at Sep. 30, 2018		5,000	275,168	5,629
Balance at Jun. 30, 2018	8,109.2	$ 120.6	$ 6,322.2	$ 804.5	(49.9)	911.8
Balance (in units) at Jun. 30, 2018		5,000	275,168	5,629
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Contributions from Targa Resources Corp.	459.8	$ 0	$ 450.6	$ 9.2	0	0
Contributions from Targa Resources Corp. (in units)		0	0	0
Acquisition of related party (see Note 15)	0	$ 0	$ 0	$ 0	0	0
Purchase of noncontrolling interests in subsidiaries, net	0	0	0	0	0	0
Distributions to noncontrolling interests	(17.7)	0	0	0	0	(17.7)
Contributions from noncontrolling interests	164.4	0	0	0	0	164.4
Other comprehensive income (loss)	(115.8)	0	0	0	(115.8)	0
Net income (loss)	(8.7)	2.8	(20.8)	(0.4)	0	9.7
Distributions	(233.9)	(2.8)	(226.5)	(4.6)	0	0
Balance at Sep. 30, 2018	8,357.3	$ 120.6	$ 6,525.5	$ 808.7	(165.7)	1,068.2
Balance (in units) at Sep. 30, 2018		5,000	275,168	5,629
Balance at Dec. 31, 2018	8,546.1	$ 120.6	$ 6,227.2	$ 802.6	124.9	1,270.8
Balance (in units) at Dec. 31, 2018		5,000	275,168	5,629
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Contributions from Targa Resources Corp.	200	$ 0	$ 196	$ 4	0	0
Contributions from Targa Resources Corp. (in units)		0	0	0
Sale of ownership interests in subsidiaries	1,609	$ 0	$ (10.5)	$ (0.2)	0	1,619.7
Distributions to noncontrolling interests	(172.6)	0	0	0	0	(172.6)
Contributions from noncontrolling interests	518.7	0	0	0	0	518.7
Other comprehensive income (loss)	61.7	0	0	0	61.7	0
Net income (loss)	70.2	8.4	(80.8)	(1.7)	0	144.3
Distributions	(921.5)	(8.4)	(894.8)	(18.3)	0	0
Balance at Sep. 30, 2019	9,911.6	$ 120.6	$ 5,437.1	$ 786.4	186.6	3,380.9
Balance (in units) at Sep. 30, 2019		5,000	275,168	5,629
Balance at Jun. 30, 2019	10,001.7	$ 120.6	$ 5,703.1	$ 791.9	109.9	3,276.2
Balance (in units) at Jun. 30, 2019		5,000	275,168	5,629
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Contributions from Targa Resources Corp.	10	$ 0	$ 9.8	$ 0.2	0	0
Contributions from Targa Resources Corp. (in units)		0	0	0
Sale of ownership interests in subsidiaries	0	$ 0	$ 0	$ 0	0	0
Distributions to noncontrolling interests	(87.2)	0	0	0	0	(87.2)
Contributions from noncontrolling interests	115.3	0	0	0	0	115.3
Other comprehensive income (loss)	76.7	0	0	0	76.7	0
Net income (loss)	37.5	2.8	(41)	(0.9)	0	76.6
Distributions	(242.4)	(2.8)	(234.8)	(4.8)	0	0
Balance at Sep. 30, 2019	$ 9,911.6	$ 120.6	$ 5,437.1	$ 786.4	$ 186.6	$ 3,380.9
Balance (in units) at Sep. 30, 2019		5,000	275,168	5,629

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash flows from operating activities
Net income (loss)	$ 70.2	$ 209.8
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Amortization in interest expense	6.8	6.8
Depreciation and amortization expense	718.9	607.1
Accretion of asset retirement obligations	3.7	2.8
Increase (decrease) in redemption value of mandatorily redeemable preferred interests	0	(66.3)
Equity (earnings) loss of unconsolidated affiliates	(15.9)	(6.4)
Distributions of earnings received from unconsolidated affiliates	26	16
Risk management activities	100.8	9.6
(Gain) loss on sale or disposition of assets	3.6	14.3
Write-down of assets	17.9	0
(Gain) loss from financing activities	1.4	1.3
(Gain) loss from sale of equity-method investment	(65.8)	0
Change in contingent considerations	8.8	12.1
Changes in operating assets and liabilities, net of business acquisitions:
Receivables and other assets	108	(221.7)
Inventories	(89.7)	(16.6)
Accounts payable and other liabilities	2.7	374.7
Net cash provided by operating activities	897.4	943.5
Cash flows from investing activities
Outlays for property, plant and equipment	(2,433.8)	(2,033.6)
Proceeds from sale of assets	2.7	71.5
Investments in unconsolidated affiliates	(243.7)	(223.7)
Proceeds from sale of equity-method investment	70.3	0
Return of capital from unconsolidated affiliates	1.1	2.2
Other, net	(16.3)	(9.2)
Net cash used in investing activities	(2,619.7)	(2,192.8)
Debt obligations:
Proceeds from borrowings under credit facility	2,180	950
Repayments of credit facility	(2,050)	(970)
Proceeds from borrowings under accounts receivable securitization facility	770	440
Repayments of accounts receivable securitization facility	(804)	(500)
Proceeds from issuance of senior notes	1,500	1,000
Redemption of senior notes	(749.4)	0
Principal payments of finance leases	(8.5)	0
Costs incurred in connection with financing arrangements	(25.1)	(15.8)
Payment of contingent consideration	(317.1)	0
Sale of ownership interests in subsidiaries	1,619.7	(0.1)
Contributions from general partner	4	10.8
Contributions from TRC	196	529.2
Contributions from noncontrolling interests	518.7	611.6
Distributions to noncontrolling interests	(98.9)	(51.5)
Distributions to unitholders	(921.5)	(692.1)
Net cash provided by financing activities	1,813.9	1,312.1
Net change in cash and cash equivalents	91.6	62.8
Cash and cash equivalents, beginning of period	203.3	124.7
Cash and cash equivalents, end of period	$ 294.9	$ 187.5

Organization and Operations

Organization and Operations	9 Months Ended
	Sep. 30, 2019
Limited Liability Company Or Limited Partnership Business Organization And Operations [Abstract]
Organization and Operations	Note 1 — Organization and Operations Our Organization Targa Resources Partners LP is a Delaware limited partnership formed in October 2006 by our parent, Targa Resources Corp. (“Targa” or “TRC” or the “Company” or “Parent”). In this Quarterly Report, unless the context requires otherwise, references to “we,” “us,” “our,” “TRP,” or the “Partnership” are intended to mean the business and operations of Targa Resources Partners LP and its consolidated subsidiaries. Our common units are wholly owned by TRC and no longer publicly traded as a result of TRC’s acquisition of our outstanding common units that it and its subsidiaries did not already own in 2016. The 5,000,000 9.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (the “Preferred Units”) that were issued in October 2015 remain outstanding as limited partner interests in us and continue to trade on the NYSE under the symbol “NGLS/PA.” Our Operations We are primarily engaged in the business of: • gathering, compressing, treating, processing, transporting and selling natural gas; • transporting, storing, fractionating, treating and selling NGLs and NGL products, including services to LPG exporters; and • gathering, storing, terminaling and selling crude oil. See Note 20 – Segment Information for certain financial information regarding our business segments. The employees supporting our operations are employed by Targa. Our consolidated financial statements include the direct costs of Targa employees deployed to our operating segments, as well as an allocation of costs associated with our usage of Targa’s centralized general and administrative services.

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	Note 2 — Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and do not include all information and disclosures required by GAAP. Therefore, this information should be read in conjunction with our consolidated financial statements and notes contained in our Annual Report. The information furnished herein reflects all adjustments that are, in the opinion of management, necessary for a fair statement of the results of the interim periods reported. All significant intercompany balances and transactions have been eliminated in consolidation. Certain amounts in prior periods may have been reclassified to conform to the current year presentation. Operating results for the three and nine months ended September 30, 2019, are not necessarily indicative of the results that may be expected for the year ending December 31, 2019 .

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Significant Accounting Policies	Note 3 — Significant Accounting Policies The accounting policies that we follow are set forth in Note 3 – Significant Accounting Policies of the Notes to Consolidated Financial Statements in our Annual Report. Other than the updates noted below, there were no significant updates or revisions to our accounting policies during the nine months ended September 30, 2019. Recent Accounting Pronouncements Recently adopted accounting pronouncements Leases In February 2016, the Financial Accounting Standards Board Accounting Standards Update (“ASU”) Leases (net of $0.4 million of lease incentives/deferred rent) • The package for transition relief, which among other things, allows us to carry forward our historical lease classification; • The land easements transition, which allows us to carry forward our historical accounting treatment for land easements prior to the effective date of the new leases standard, and evaluate only new or modified land easements on or after January 1, 2019 under Topic 842; • The short-term lease election, which allows us to elect not to record leases with an initial term of twelve months or less, for all asset classes; • The election to not separate non-lease components from lease components for all the asset classes in our current lease portfolio, where Targa is the lessee; and • The election to not separate non-lease components from lease components for gathering, processing and storage assets, where Targa is the lessor. Based on our election, we determined the non-lease component in certain of these arrangements is the predominant component and therefore account for the arrangements under ASC 606. We recognize the following for all leases (with the exception of short-term leases) at the commencement date: • A lease liability, which is a lessee’s obligation to make lease payments arising from a lease. • A right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. We determine if an arrangement is or contains a lease at inception. Leases with an initial term of twelve months or less are considered short-term leases, which are excluded from the balance sheet. Right-of-use assets and lease liabilities are recognized at the commencement date based on the present value of future lease payments over the lease term. The right-of-use asset also includes any lease prepayments and excludes lease incentives. As most of the Company’s leases do not provide an implicit interest rate, we use our incremental borrowing rate as the discount rate to compute the present value of our lease liability. The discount rate applied is determined based on information available on the date of adoption for all leases existing as of that date, and on the date of lease commencement for all subsequent leases. Our lease arrangements may include variable lease payments based on an index or market rate, or may be based on performance. For variable lease payments based on an index or market rate, we estimate and apply a rate based on information available at the commencement date. Variable lease payments based on performance are excluded from the calculation of the right-of-use asset and lease liability, and are recognized in our Consolidated Statements of Operations when the contingency underlying such variable lease payments is resolved. Our lease terms may include options to extend or terminate the lease. Such options are included in the measurement of our right-of-use asset and liability, provided we determine that we are reasonably certain to exercise the option. See Note 11 – Leases for additional details.

Divestitures

Divestitures	9 Months Ended
	Sep. 30, 2019
Business Combinations [Abstract]
Divestitures	Note 4 — Train 7 Joint Venture In February 2019, we announced an extension of the Grand Prix NGL Pipeline (“Grand Prix”) from Southern Oklahoma to the STACK region of Central Oklahoma where it will connect with the Williams Companies, Inc. (“Williams”) Bluestem Pipeline and link the Conway, Kansas, and Mont Belvieu, Texas, NGL markets. In connection with this project, Williams has committed significant volumes to us that we will transport on Grand Prix and fractionate at our Mont Belvieu facilities. Williams also had an initial option to purchase a 20% equity interest in one of our recently announced 110 MBbl/d fractionation trains (Train 7 or Train 8) in Mont Belvieu. Williams exercised its option to acquire a 20% equity interest in Train 7 and subsequently executed a joint venture agreement with us in the second quarter of 2019. Certain fractionation-related infrastructure for Train 7, including storage caverns and brine handling, will be funded and owned 100% by Targa. We present Train 7 on a consolidated basis in our consolidated financial statements. Sale of Interest in Targa Badlands LLC On April 3, 2019, we closed on the sale of a 45 substantially collectively $1.6 After the seventh anniversary of the closing date or upon the occurrence of certain triggering events, we have the option to acquire all of Blackstone’s interest in Targa Badlands for a purchase price payable to Blackstone based on their liquidation preference after taking into account all prior distributions to Blackstone, plus a set percentage on a multiple of the trailing twelve-month EBITDA of Targa Badlands. We continue Badlands Blackstone’s contributions are reflected as noncontrolling interests Subsequent Event In November 2019, we executed agreements to sell our crude gathering and storage business in the Permian Delaware for approximately $135 million. Subject to customary regulatory approvals and closing conditions, the sale is expected to close in the fourth quarter of 2019. We have also engaged Jefferies LLC to evaluate the potential divestiture of our crude gathering business in the Permian Midland, which includes crude gathering and storage assets. The potential divestiture is predicated on third party valuations adequately capturing our forward growth expectations for the assets, and no assurance can be made that a sale will be consummated.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2019
Inventory Disclosure [Abstract]
Inventories	Note 5 — Inventories September 30, 2019 December 31, 2018 Commodities $ 202.6 $ 151.1 Materials and supplies 8.3 13.6 $ 210.9 $ 164.7

Property, Plant and Equipment a

Property, Plant and Equipment and Intangible Assets	9 Months Ended
	Sep. 30, 2019
Property Plant And Equipment And Intangible Assets [Abstract]
Property, Plant and Equipment and Intangible Assets	Note 6 — Property, Plant and Equipment and Intangible Assets September 30, 2019 December 31, 2018 Estimated Useful Lives (In Years) Gathering systems $ 8,767.6 $ 7,547.9 5 to 20 Processing and fractionation facilities 4,961.3 4,001.0 5 to 25 Terminaling and storage facilities 1,459.1 1,138.7 5 to 25 Transportation assets 2,221.9 445.1 10 to 50 Other property, plant and equipment 302.0 334.3 3 to 25 Land 154.4 144.3 — Construction in progress 1,675.9 3,602.5 — Finance lease right-of-use assets 46.9 — Property, plant and equipment 19,589.1 17,213.8 Accumulated depreciation and amortization (4,892.4 ) (4,285.5 ) Property, plant and equipment, net $ 14,696.7 $ 12,928.3 Intangible assets $ 2,736.6 $ 2,736.6 10 to 20 Accumulated amortization (882.2 ) (753.4 ) Intangible assets, net $ 1,854.4 $ 1,983.2 During the preparation of the Company's first quarter 2019 consolidated financial statements, the Company identified an error related to depreciation expense on certain assets that should have been placed in-service during 2018. The Company does not believe this error is material to its previously issued historical consolidated financial statements for any of the periods impacted and accordingly, has not adjusted the historical financial statements. The Company recorded the cumulative impact of the adjustment in the period of identification, resulting in a one-time $12.5 million overstatement of depreciation expense. During the three and nine months ended September 30, 2019, depreciation expense was $201.4 million and $590.1 million. During the three and nine months ended September 30, 2018, depreciation expense was $161.7 million and $470.9 million. Intangible Assets Intangible assets consist of customer contracts and customer relationships acquired in prior business combinations. The fair value of these acquired intangible assets were determined at the date of acquisition based on the present values of estimated future cash flows. Amortization expense attributable to these assets is recorded over the periods in which we benefit from services provided to customers. The estimated annual amortization expense for intangible assets is approximately $171.6 million, $159.4 million, $149.5 million, $141.2 million and $136.0 million for each of the years 2019 through 2023. The changes in our intangible assets are as follows: Balance at December 31, 2018 $ 1,983.2 Amortization (128.8 ) Balance at September 30, 2019 $ 1,854.4

Investments in Unconsolidated A

Investments in Unconsolidated Affiliates	9 Months Ended
	Sep. 30, 2019
Equity Method Investments And Joint Ventures [Abstract]
Investments in Unconsolidated Affiliates	Note 7 – Investments in Unconsolidated Affiliates Our investments in unconsolidated affiliates consist of the following: Gathering and Processing Segment • two • a 50 Logistics and Marketing Segment • a 25% non-operated ownership interest in Gulf Coast Express Pipeline LLC (“GCX”) ; • a 38.8 • a 50% operated ownership interest in Cayenne Pipeline, LLC (“Cayenne”) . The terms of these joint venture agreements do not afford us the degree of control required for consolidating them in our consolidated financial statements, but do afford us the significant influence required to employ the equity method of accounting The T2 Joint Ventures were formed to provide services for the benefit of their joint venture owners and have capacity lease agreements with their joint venture owners, which cover costs of operations (excluding depreciation and amortization). On April 1, 2019, we assumed the operatorship of the T2 Joint Ventures. During the third quarter of 2019, we closed on the sale of an equity-method investment for $70.3 million that resulted in the recognition of a gain of $65.8 million during the three months ended September 30, 2019, which is reported as part of Other (income) expense. The following table shows the activity related to our investments in unconsolidated affiliates: Balance at December 31, 2018 Equity Earnings (Loss) Cash Distributions Disposition Contributions Balance at September 30, 2019 GCX (1) $ 211.6 $ 8.9 $ (5.3 ) $ — $ 210.4 $ 425.6 T2 Eagle Ford (2) 99.0 (7.5 ) — — — 91.5 Little Missouri 4 67.3 0.1 — — 33.0 100.4 T2 LaSalle (2) 49.3 (3.5 ) — — — 45.8 GCF 40.3 14.0 (14.7 ) — — 39.6 Cayenne 16.6 5.4 (6.7 ) — 0.3 15.6 Agua Blanca 6.4 (1.5 ) (0.4 ) (4.5 ) — — Total $ 490.5 $ 15.9 $ (27.1 ) $ (4.5 ) $ 243.7 $ 718.5 (1) Our 25% interest in GCX is owned by Targa GCX Pipeline LLC (“GCX DevCo JV”), of which we own a 20% interest. GCX DevCo JV is accounted for on a consolidated basis in our consolidated financial statements. ( 2 ) As of September 30, 2019, $23.5 million of unamortized excess fair value over the T2 LaSalle and T2 Eagle Ford capital accounts remained. These basis differences, which are attributable to the underlying depreciable tangible gathering assets, are being amortized on a straight-line basis as components of equity earnings over the estimated 20-year useful lives of the underlying assets.

Accounts Payable and Accrued Li

Accounts Payable and Accrued Liabilities	9 Months Ended
	Sep. 30, 2019
Payables And Accruals [Abstract]
Accounts Payable and Accrued Liabilities	Note 8 — Accounts Payable and Accrued Liabilities September 30, 2019 December 31, 2018 Commodities $ 612.0 $ 721.9 Other goods and services 359.6 474.5 Interest 91.6 79.4 Permian Acquisition contingent consideration — 308.2 Income and other taxes 79.5 45.4 Accrued distributions to noncontrolling interests 73.8 — Other 18.3 7.5 $ 1,234.8 $ 1,636.9 Accounts payable and accrued liabilities includes $15.3 million and $52.2 million of liabilities to creditors to whom we have issued checks that remained outstanding as of September 30, 2019 and December 31, 2018. Permian Acquisition Contingent Consideration As a result of a 2017 acquisition of certain gas gathering and processing and crude gathering assets in the Permian Basin (the “Permian Acquisition”), we included the fair value of the contingent consideration in accounts payable and accrued liabilities as of December 31, 2018. The contingent consideration earn-out period ended on February 28, 2019 and resulted in a $317.1 million payment in May 2019.

Debt Obligations

Debt Obligations	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Debt Obligations	Note 9 — Debt Obligations September 30, 2019 December 31, 2018 Current: Accounts receivable securitization facility, due December 2019 (1) $ 246.0 $ 280.0 Senior unsecured notes, 4⅛% fixed rate, due November 2019 — 749.4 246.0 1,029.4 Debt issuance costs, net of amortization — (1.5 ) Finance lease liabilities 12.0 — Current debt obligations 258.0 1,027.9 Long-term: Senior secured revolving credit facility, variable rate, due June 2023 (2) 830.0 700.0 Senior unsecured notes: 5¼% fixed rate, due May 2023 559.6 559.6 4¼% fixed rate, due November 2023 583.9 583.9 6¾% fixed rate, due March 2024 580.1 580.1 5⅛% fixed rate, due February 2025 500.0 500.0 5⅞% fixed rate, due April 2026 1,000.0 1,000.0 5⅜% fixed rate, due February 2027 500.0 500.0 6½% fixed rate, due July 2027 750.0 — 5% fixed rate, due January 2028 750.0 750.0 6⅞% fixed rate, due January 2029 750.0 — TPL notes, 4¾% fixed rate, due November 2021 (3) 6.5 6.5 TPL notes, 5⅞% fixed rate, due August 2023 (3) 48.1 48.1 Unamortized premium 0.3 0.3 6,858.5 5,228.5 Debt issuance costs, net of amortization (40.7 ) (31.1 ) Finance lease liabilities 26.9 — Long-term debt 6,844.7 5,197.4 Total debt obligations $ 7,102.7 $ 6,225.3 Irrevocable standby letters of credit outstanding (2) $ 73.8 $ 79.5 (1) As of September 30, 2019, we had $246.0 million of qualifying receivables under our $400.0 million accounts receivable securitization facility, resulting in zero availability. (2) As of September 30, 2019, availability under our $2.2 billion senior secured revolving credit facility (“TRP Revolver”) was $1,296.2 million. (3) “TPL” refers to Targa Pipeline Partners LP. The following table shows the range of interest rates and weighted average interest rate incurred on our variable-rate debt obligations during the nine months ended September 30, 2019: Range of Interest Rates Incurred Weighted Average Interest Rate Incurred TRP Revolver 3.8% - 4.7% 4.2% Accounts receivable securitization facility 2.9% - 3.4% 3.3% Compliance with Debt Covenants As of September 30, 2019, we were in compliance with the covenants contained in our various debt agreements. Senior Unsecured Notes Issuance In January 2019, we issued $750.0 million of 6½% Senior Notes due July 2027 and $750.0 million of 6 ⅞ Debt Extinguishment In February 2019, we redeemed in full our outstanding 4 ⅛

Other Long-term Liabilities

Other Long-term Liabilities	9 Months Ended
	Sep. 30, 2019
Other Liabilities Noncurrent [Abstract]
Other Long-term Liabilities	Note 10 — Other Long-term Liabilities Other long-term liabilities is comprised of deferred revenue, asset retirement obligations and operating lease liabilities. Deferred Revenue We have certain long-term contractual arrangements for which we have received consideration that we are not yet able to recognize as revenue. The resulting deferred revenue will be recognized once all conditions for revenue recognition have been met. Deferred revenue as of September 30, 2019 and December 31, 2018, was $173.0 million and $175.5 million, respectively, which includes $129.0 million of payments received from Vitol Americas Corp. (“Vitol”) (formerly known as Noble Americas Corp.), a subsidiary of Vitol US Holding Co., in 2016, 2017, and 2018 as part of an agreement (the “Splitter Agreement”) related to the construction and operation of a crude oil and condensate splitter. In December 2018, Vitol elected to terminate the Splitter Agreement. The Splitter Agreement provides that the first three annual payments are ours if Vitol elects to terminate, which Vitol disputes. The timing of revenue recognition related to the Splitter Agreement deferred revenue is dependent upon resolution of the dispute with Vitol. Deferred revenue also includes nonmonetary consideration received in a 2015 amendment to a gas gathering and processing agreement and consideration received for other construction activities of facilities connected to our systems.

Leases

Leases	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Leases	Note 11 – Leases We have non-cancellable operating leases primarily associated with our office facilities, rail assets, land, and storage and terminal assets. We have finance leases primarily associated with our tractors and vehicles. Our leases have remaining lease terms of 1 to 6 years, some of which include options to extend the lease term for up to 10 years. The balances of right-of-use assets and liabilities of finance leases and operating leases, and their locations on our Consolidated Balance Sheets are as follows: Balance Sheet Location September 30, 2019 Right-of-use assets Operating leases, gross Other long-term assets $ 31.5 Finance leases, gross Property, plant and equipment 46.9 Lease liabilities Current: Operating leases Accounts payable and accrued liabilities $ 6.9 Finance leases Current debt obligations 12.0 Non-current: Operating leases Other long-term liabilities $ 19.6 Finance leases Long-term debt 26.9 Operating lease costs and short-term lease costs are included in Operating expenses or General and administrative expense in our Consolidated Statements of Operations, depending on the nature of the leases. Finance lease costs are included in Depreciation and amortization expense and Interest expense, net in our Consolidated Statements of Operations. The components of lease expense were as follows: Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Lease cost Operating lease cost $ 2.2 $ 6.0 Short-term lease cost 6.7 22.4 Variable lease cost 0.8 3.6 Finance lease cost Amortization of right-of-use assets 3.4 9.7 Interest expense 0.4 1.2 Total lease cost $ 13.5 $ 42.9 Other supplemental information related to our leases are as follows: Nine Months Ended September 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 6.1 Operating cash flows for finance leases 1.2 Financing cash flows for finance leases 8.5 The weighted-average remaining lease terms for operating leases and finance leases are 4 years and 3 years, respectively. The weighted-average discount rates for operating leases and finance leases are 3.9% and 3.9%, respectively. The following table presents the maturities of our lease liabilities under non-cancellable leases as of September 30, 2019: Operating Leases Finance Leases Future Minimum Lease Payments Beginning After September 30, 2019 $ 7.8 $ 13.3 2020 6.9 11.4 2021 6.1 10.3 2022 4.6 6.1 2023 2.6 0.6 Thereafter 0.7 — Total undiscounted cash flows 28.7 41.7 Less imputed interest (2.2 ) (2.8 ) Total lease liabilities $ 26.5 $ 38.9 The following table presents future minimum payments under non-cancellable leases as of December 31, 2018: Leases 2019 $ 20.5 2020 17.7 2021 14.9 2022 12.6 2023 6.0 Thereafter 1.7 Total payments $ 73.4

Partnership Units and Related M

Partnership Units and Related Matters	9 Months Ended
	Sep. 30, 2019
Partners Capital [Abstract]
Partnership Units and Related Matters	Note 12 — Partnership Units and Related Matters Distributions TRC is entitled to receive all Partnership distributions after payment of preferred unit distributions each quarter. The following table details the distributions declared and paid by us for the nine months ended September 30, 2019: Three Months Ended Date Paid or To Be Paid Total Distributions Distributions to Targa Resources Corp. September 30, 2019 November 13, 2019 $ 242.1 $ 239.3 June 30, 2019 August 13, 2019 242.4 239.6 March 31, 2019 April 5, 2019 437.8 435.0 December 31, 2018 February 13, 2019 241.3 238.5 Contributions All capital contributions to us continue to be allocated 98% to the limited partner and 2% to our general partner; however, no units will be issued for those contributions. During the three and nine months ended September 30, 2019, TRC made total contributions of $10.0 million and $200.0 million to us. Preferred Units Our Preferred Units rank senior to our common units with respect to the distribution rights. Distributions on our 5,000,000 Preferred Units are cumulative from the date of original issue in October 2015 and are payable monthly in arrears on the 15th day of each month of each year, when, as and if declared by the board of directors of our general partner. Distributions on our Preferred Units are payable out of amounts legally available at a rate equal to 9.0% per annum. On and after November 1, 2020, distributions on our Preferred Units will accumulate at an annual floating rate equal to the one-month LIBOR plus a spread of 7.71%. We paid $2.8 million and $8.4 million of distributions to the holders of Preferred Units (“Preferred Unitholders”) for the three and nine months ended September 30, 2019. Subsequent Event In October 2019, the board of directors of our general partner declared a cash distribution of $0.1875 per Preferred Unit, resulting in approximately $0.9 million in distributions that will be paid on November 15, 2019.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	9 Months Ended
	Sep. 30, 2019
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Note 13 — Derivative Instruments and Hedging Activities The primary purpose of our commodity risk management activities is to manage our exposure to commodity price risk and reduce volatility in our operating cash flow due to fluctuations in commodity prices. We have entered into derivative instruments to hedge the commodity price risks associated with a portion of our expected (i) natural gas, NGL, and condensate equity volumes in our Gathering and Processing operations that result from percent-of-proceeds processing arrangements, (ii) future commodity purchases and sales in our Logistics and Marketing segment and (iii) natural gas transportation basis risk in our Logistics and Marketing segment. The hedge positions associated with (i) and (ii) above will move favorably in periods of falling commodity prices and unfavorably in periods of rising commodity prices and are designated as cash flow hedges for accounting purposes. The hedges generally match the NGL product composition and the NGL delivery points of our physical equity volumes. Our natural gas hedges are a mixture of specific gas delivery points and Henry Hub. The NGL hedges may be transacted as specific NGL hedges or as baskets of ethane, propane, normal butane, isobutane and natural gasoline based upon our expected equity NGL composition. We believe this approach avoids uncorrelated risks resulting from employing hedges on crude oil or other petroleum products as “proxy” hedges of NGL prices. Our natural gas and NGL hedges are settled using published index prices for delivery at various locations. We hedge a portion of our condensate equity volumes using crude oil hedges that are based on the NYMEX futures contracts for West Texas Intermediate light, sweet crude, which approximates the prices received for condensate. This exposes us to a market differential risk if the NYMEX futures do not move in exact parity with the sales price of our underlying condensate equity volumes. We also enter into derivative instruments to help manage other short-term commodity-related business risks. We have not designated these derivatives as hedges and record changes in fair value and cash settlements to revenues. At September 30, 2019, the notional volumes of our commodity derivative contracts were: Commodity Instrument Unit 2019 2020 2021 2022 2023 2024 Natural Gas Swaps MMBtu/d 172,254 96,130 85,151 7,500 - - Natural Gas Basis Swaps MMBtu/d 398,098 352,260 339,360 200,000 200,000 40,000 NGL Swaps Bbl/d 30,468 20,305 8,396 3,236 - - NGL Futures Bbl/d 29,620 15,495 - - - - NGL Options Bbl/d 410 - - - - - Condensate Swaps Bbl/d 4,170 4,140 3,154 1,110 - - Condensate Options Bbl/d 590 - - - - - Our derivative contracts are subject to netting arrangements that permit our contracting subsidiaries to net cash settle offsetting asset and liability positions with the same counterparty within the same Targa entity. We record derivative assets and liabilities on our Consolidated Balance Sheets on a gross basis, without considering the effect of master netting arrangements. The following schedules reflect the fair value of our derivative instruments and their location on our Consolidated Balance Sheets as well as pro forma reporting assuming that we reported derivatives subject to master netting agreements on a net basis: Fair Value as of September 30, 2019 Fair Value as of December 31, 2018 Balance Sheet Derivative Derivative Derivative Derivative Location Assets Liabilities Assets Liabilities Derivatives designated as hedging instruments Commodity contracts Current $ 138.2 $ (11.4 ) $ 112.5 $ (18.9 ) Long-term 56.6 (1.1 ) 31.6 (1.5 ) Total derivatives designated as hedging instruments $ 194.8 $ (12.5 ) $ 144.1 $ (20.4 ) Derivatives not designated as hedging instruments Commodity contracts Current $ 1.9 $ (72.1 ) $ 2.8 $ (14.7 ) Long-term 3.4 (45.0 ) 2.5 (1.6 ) Total derivatives not designated as hedging instruments $ 5.3 $ (117.1 ) $ 5.3 $ (16.3 ) Total current position $ 140.1 $ (83.5 ) $ 115.3 $ (33.6 ) Total long-term position 60.0 (46.1 ) 34.1 (3.1 ) Total derivatives $ 200.1 $ (129.6 ) $ 149.4 $ (36.7 ) The pro forma impact of reporting derivatives on our Consolidated Balance Sheets on a net basis is as follows: Gross Presentation Pro Forma Net Presentation September 30, 2019 Asset Liability Collateral Asset Liability Current Position Counterparties with offsetting positions or collateral $ 103.9 $ (69.5 ) $ (25.2 ) $ 62.5 $ (53.3 ) Counterparties without offsetting positions - assets 36.2 - - 36.2 - Counterparties without offsetting positions - liabilities - (14.0 ) - - (14.0 ) 140.1 (83.5 ) (25.2 ) 98.7 (67.3 ) Long Term Position Counterparties with offsetting positions or collateral 47.1 (46.1 ) - 32.1 (31.1 ) Counterparties without offsetting positions - assets 12.9 - - 12.9 - Counterparties without offsetting positions - liabilities - - - - - 60.0 (46.1 ) - 45.0 (31.1 ) Total Derivatives Counterparties with offsetting positions or collateral 151.0 (115.6 ) (25.2 ) 94.6 (84.4 ) Counterparties without offsetting positions - assets 49.1 - - 49.1 - Counterparties without offsetting positions - liabilities - (14.0 ) - - (14.0 ) $ 200.1 $ (129.6 ) $ (25.2 ) $ 143.7 $ (98.4 ) Gross Presentation Pro Forma Net Presentation December 31, 2018 Asset Liability Collateral Asset Liability Current Position Counterparties with offsetting positions or collateral $ 100.0 $ (33.6 ) $ (14.2 ) $ 70.0 $ (17.8 ) Counterparties without offsetting positions - assets 15.3 - - 15.3 - Counterparties without offsetting positions - liabilities - - - - - 115.3 (33.6 ) (14.2 ) 85.3 (17.8 ) Long Term Position Counterparties with offsetting positions or collateral 8.9 (3.1 ) - 5.9 (0.1 ) Counterparties without offsetting positions - assets 25.2 - - 25.2 - Counterparties without offsetting positions - liabilities - - - - - 34.1 (3.1 ) - 31.1 (0.1 ) Total Derivatives Counterparties with offsetting positions or collateral 108.9 (36.7 ) (14.2 ) 75.9 (17.9 ) Counterparties without offsetting positions - assets 40.5 - - 40.5 - Counterparties without offsetting positions - liabilities - - - - - $ 149.4 $ (36.7 ) $ (14.2 ) $ 116.4 $ (17.9 ) Our payment obligations in connection with a majority of these hedging transactions are secured by a first priority lien in the collateral securing the TRP Revolver that ranks equal in right of payment with liens granted in favor of our senior secured lenders. Some of our hedges are futures contracts executed through brokers that clear the hedges through an exchange. We maintain a margin deposit with the brokers in an amount sufficient enough to cover the fair value of our open futures positions. The margin deposit is considered collateral, which is located within other current assets on our Consolidated Balance Sheets and is not offset against the fair value of our derivative instruments. The fair value of our derivative instruments, depending on the type of instrument, was determined by the use of present value methods or standard option valuation models with assumptions about commodity prices based on those observed in underlying markets. The estimated fair value of our derivative instruments was a net asset of $70.5 million as of September 30, 2019. The estimated fair value is net of an adjustment for credit risk based on the default probabilities as indicated by market quotes for the counterparties’ credit default swap rates. The credit risk adjustment was immaterial for all periods presented. Our futures contracts that are cleared through an exchange are margined daily and do not require any credit adjustment. The following tables reflect amounts recorded in Other comprehensive income (“OCI”) and amounts reclassified from OCI to revenue for the periods indicated: Gain (Loss) Recognized in OCI on Derivatives (Effective Portion) Derivatives in Cash Flow Three Months Ended September 30, Nine Months Ended September 30, Hedging Relationships 2019 2018 2019 2018 Commodity contracts $ 118.2 $ (139.6 ) $ 167.8 $ (178.0 ) Gain (Loss) Reclassified from OCI into Income (Effective Portion) Three Months Ended September 30, Nine Months Ended September 30, Location of Gain (Loss) 2019 2018 2019 2018 Revenues $ 41.5 $ (23.9 ) $ 106.1 $ (58.3 ) Based on valuations as of September 30, 2019, we expect to reclassify commodity hedge-related deferred gains of $182.2 million included in accumulated other comprehensive income into earnings before income taxes through the end of 2022, with $126.7 million of gains to be reclassified over the next twelve months. Our consolidated earnings are also affected by the use of the mark-to-market method of accounting for derivative instruments that do not qualify for hedge accounting or that have not been designated as hedges. The changes in fair value of these instruments are recorded on the balance sheet and through earnings rather than being deferred until the anticipated transaction settles. The use of mark-to-market accounting for financial instruments can cause non-cash earnings volatility due to changes in the underlying commodity price indices. For the three and nine months ended September 30, 2019, the unrealized mark-to-market losses are primarily attributable to unfavorable movements in natural gas forward basis prices. Location of Gain Gain (Loss) Recognized in Income on Derivatives Derivatives Not Designated Recognized in Income on Three Months Ended September 30, Nine Months Ended September 30, as Hedging Instruments Derivatives 2019 2018 2019 2018 Commodity contracts Revenue $ (103.3 ) $ (1.1 ) $ (113.8 ) $ (14.1 ) See Note 14 – Fair Value Measurements and Note 20 – Segment Information for additional disclosures related to derivative instruments and hedging activities.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 14 — Fair Value Measurements Under GAAP, our Consolidated Balance Sheets reflect a mixture of measurement methods for financial assets and liabilities (“financial instruments”). Derivative financial instruments and contingent consideration related to business acquisitions are reported at fair value on our Consolidated Balance Sheets. Other financial instruments are reported at historical cost or amortized cost on our Consolidated Balance Sheets. The following are additional qualitative and quantitative disclosures regarding fair value measurements of financial instruments. Fair Value of Derivative Financial Instruments Our derivative instruments consist of financially settled commodity swaps, futures, option contracts and fixed-price forward commodity contracts with certain counterparties. We determine the fair value of our derivative contracts using present value methods or standard option valuation models with assumptions about commodity prices based on those observed in underlying markets. We have consistently applied these valuation techniques in all periods presented and we believe we have obtained the most accurate information available for the types of derivative contracts we hold. The fair values of our derivative instruments are sensitive to changes in forward pricing on natural gas, NGLs and crude oil. The financial position of these derivatives at September 30, 2019, a net asset position of $70.5 million, reflects the present value, adjusted for counterparty credit risk, of the amount we expect to receive or pay in the future on our derivative contracts. If forward pricing on natural gas, NGLs and crude oil were to increase by 10%, the result would be a fair value reflecting a net liability of $34.0 million, ignoring an adjustment for counterparty credit risk. If forward pricing on natural gas, NGLs and crude oil were to decrease by 10%, the result would be a fair value reflecting a net asset of $175.4 million, ignoring an adjustment for counterparty credit risk. Fair Value of Other Financial Instruments Due to their cash or near-cash nature, the carrying value of other financial instruments included in working capital (i.e., cash and cash equivalents, accounts receivable, accounts payable) approximates their fair value. Long-term debt is primarily the other financial instrument for which carrying value could vary significantly from fair value. We determined the supplemental fair value disclosures for our long-term debt as follows: • The TRP Revolver and the accounts receivable securitization facility are based on carrying value, which approximates fair value as their interest rates are based on prevailing market rates; and • Senior unsecured notes are based on quoted market prices derived from trades of the debt. Contingent consideration liabilities related to business acquisitions are carried at fair value until the end of the related earn-out period. Fair Value Hierarchy We categorize the inputs to the fair value measurements of financial assets and liabilities at each balance sheet reporting date using a three-tier fair value hierarchy that prioritizes the significant inputs used in measuring fair value: • Level 1 – observable inputs such as quoted prices in active markets; • Level 2 – inputs other than quoted prices in active markets that we can directly or indirectly observe to the extent that the markets are liquid for the relevant settlement periods; and • Level 3 – unobservable inputs in which little or no market data exists, therefore we must develop our own assumptions. The following table shows a breakdown by fair value hierarchy category for (1) financial instruments measurements included on our Consolidated Balance Sheets at fair value and (2) supplemental fair value disclosures for other financial instruments: September 30, 2019 Fair Value Carrying 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) $ 197.5 $ 197.5 $ — $ 196.4 $ 1.1 Liabilities from commodity derivative contracts (1) 127.0 127.0 — 127.0 — TPL contingent consideration (2) 2.4 2.4 — — 2.4 Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value: Cash and cash equivalents 294.9 294.9 — — — TRP Revolver 830.0 830.0 — 830.0 — Senior unsecured notes 6,028.5 6,310.6 — 6,310.6 — Accounts receivable securitization facility 246.0 246.0 — 246.0 — December 31, 2018 Fair Value Carrying 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) $ 144.4 $ 144.4 $ — $ 137.5 $ 6.9 Liabilities from commodity derivative contracts (1) 31.7 31.7 — 31.3 0.4 Permian Acquisition contingent consideration 308.2 308.2 — — 308.2 TPL contingent consideration (2) 2.4 2.4 — — 2.4 Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value: Cash and cash equivalents 203.3 203.3 — — — TRP Revolver 700.0 700.0 — 700.0 — Senior unsecured notes 5,277.9 5,088.9 — 5,088.9 — Accounts receivable securitization facility 280.0 280.0 — 280.0 — (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 13– 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. Additional Information Regarding Level 3 Fair Value Measurements Included on Our Consolidated Balance Sheets We reported certain of our swaps and option contracts at fair value using Level 3 inputs due to such derivatives not having observable market prices or implied volatilities for substantially the full term of the derivative asset or liability. For valuations that include both observable and unobservable inputs, if the unobservable input is determined to be significant to the overall inputs, the entire valuation is categorized in Level 3. This includes derivatives valued using indicative price quotations whose contract length extends into unobservable periods. The fair value of these swaps is determined using a discounted cash flow valuation technique based on a forward commodity basis curve. For these derivatives, the primary input to the valuation model is the forward commodity basis curve, which is based on observable or public data sources and extrapolated when observable prices are not available. As of September 30, 2019, we had 10 commodity swap and option contracts categorized as Level 3. The significant unobservable inputs used in the fair value measurements of our Level 3 derivatives are (i) the forward natural gas liquids pricing curves, for which a significant portion of the derivative’s term is beyond available forward pricing and (ii) implied volatilities, which are unobservable as a result of inactive natural gas liquids options trading. The change in the fair value of Level 3 derivatives associated with a 10% change in the forward basis curve where prices are not observable is immaterial. The fair value of the TPL contingent consideration was determined using a probability-based model measuring the likelihood of meeting certain volumetric measures. The inputs are not observable; therefore, the entire valuation of the contingent consideration is categorized in Level 3. The Permian Acquisition contingent consideration earn-out period ended on February 28, 2019 and resulted in a $ million payment in May 2019. See Note 8 – Accounts Payable and Accrued Liabilities for additional discussion of the Permian Acquisition contingent consideration. Changes in the fair value of these liabilities are included in Other income (expense) in our Consolidated Statements of Operations. The following table summarizes the changes in fair value of our financial instruments classified as Level 3 in the fair value hierarchy: Commodity Derivative Contracts Contingent Asset/(Liability) Consideration Balance, December 31, 2018 $ 6.5 $ (310.6 ) Completion of Permian Acquisition contingent consideration earn-out period — 308.2 New Level 3 derivative instruments (0.4 ) — Transfers out of Level 3 (1) (6.5 ) — Unrealized gain/(loss) included in OCI 1.5 — Balance, September 30, 2019 $ 1.1 $ (2.4 ) (1) Transfers relate to long-term over-the-counter swaps for NGL products for which observable market prices became available for substantially their full term.

Related Party Transactions - Ta

Related Party Transactions - Targa	9 Months Ended
	Sep. 30, 2019
Related Party Transactions [Abstract]
Related Party Transactions - Targa	Note 15 — Related Party Transactions – Targa Relationship with Targa We do not have any employees. Targa provides operational, general and administrative and other services to us associated with our existing assets and assets acquired from third parties. Targa performs centralized corporate functions for us, such as legal, accounting, treasury, insurance, risk management, health, safety and environmental, information technology, human resources, credit, payroll, internal audit, taxes, engineering and marketing. Our Partnership Agreement governs the reimbursement of costs incurred by Targa on behalf of us. Targa charges us for all the direct costs of the employees assigned to our operations, as well as all general and administrative support costs other than (1) costs attributable to Targa’s status as a separate reporting company and (2) until March 2018, costs of Targa providing management and support services to certain unaffiliated spun-off entities. We generally reimburse Targa monthly for cost allocations to the extent that Targa has made a cash outlay. The following table summarizes transactions with Targa: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Targa billings of payroll and related costs included in operating expenses $ 61.6 $ 61.3 $ 177.3 $ 177.7 Targa allocation of general and administrative expense 59.5 54.6 188.4 149.3 Cash distributions to Targa based on general partner and limited partner ownership 239.6 231.2 913.1 683.7 Cash contributions from Targa related to limited partner ownership (1) 9.8 450.7 196.0 529.2 Cash contributions from Targa to maintain its 2% general partner ownership 0.2 9.2 4.0 10.8 (1) The cash contributions from Targa related to limited partner ownership were allocated 98% to the limited partner and 2% to general partner. See Note 12 – Partnership Units and Related Matters.

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2019
Loss Contingency [Abstract]
Contingencies	Note 16 – Contingencies Legal Proceedings We are a party to various legal, administrative and regulatory proceedings that have arisen in the ordinary course of our business. We are also a party to various proceedings with governmental environmental agencies, including but not limited to the Environmental Protection Agency, Texas Commission on Environmental Quality, Oklahoma Department of Environmental Quality, New Mexico Environment Department, Louisiana Department of Environmental Quality and North Dakota Department of Environmental Quality, which assert penalties for alleged violations of environmental regulations, including air emissions, discharges into the environment and reporting deficiencies, related to events that have arisen at certain of our facilities in the ordinary course of our business.

Revenue

Revenue	9 Months Ended
	Sep. 30, 2019
Revenue From Contract With Customer [Abstract]
Revenue	Note 17 – Revenue Fixed consideration allocated to remaining performance obligations The following table includes the estimated minimum revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period and is comprised of fixed consideration primarily attributable to contracts with minimum volume commitments and for which a guaranteed amount of revenue can be calculated . These contracts are comprised primarily of gathering and processing, fractionation, export, terminaling and storage agreements. 2019 2020 2021 and after Fixed consideration to be recognized as of September 30, 2019 $ 130.8 $ 486.3 $ 3,474.4 In accordance with the optional exemptions that we elected to apply, the amounts presented in the table above exclude variable consideration for which the allocation exception is met and consideration associated with performance obligations of short-term contracts. In addition, consideration from contracts for which we recognize revenue at the amount that we have the right to invoice for services performed is also excluded from the table above, with the exception of any fixed consideration attributable to such contracts. The nature of the performance obligations for which the consideration has been excluded is consistent with the performance obligations described within our revenue recognition accounting policy; the estimated remaining duration of such contracts primarily ranges from 1 to 19 years. In addition, variability exists in the consideration excluded due to the unknown quantity and composition of volumes to be serviced or sold as well as fluctuations in the market price of commodities to be received as consideration or sold over the applicable remaining contract terms. Such variability is resolved at the end of each future month or quarter. For disclosures related to disaggregated revenue, see Note 20 – Segment Information.

Other Operating (Income) Expens

Other Operating (Income) Expense	9 Months Ended
	Sep. 30, 2019
Other Income And Expenses [Abstract]
Other Operating (Income) Expense	Note 18 – Other Operating (Income) Expense Other operating (income) expense is comprised of the following: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (Gain) loss on sale or disposition of assets (1) $ 0.5 $ 61.1 $ 3.6 $ 14.3 Write-down of assets 17.9 — 17.9 — Miscellaneous business tax — 0.4 0.2 1.0 Other — 0.3 — 0.4 $ 18.4 $ 61.8 $ 21.7 $ 15.7 (1) Our 2018 loss is comprised primarily of a $57.5 million loss on sale of our refined products and crude oil storage and terminaling facilities in Tacoma, WA, and Baltimore, MD during the third quarter of 2018, offset by a $48.1 million gain on sale of our inland marine barge business to a third party during the second quarter of 2018.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Sep. 30, 2019
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	Note 19 — Supplemental Cash Flow Information Nine Months Ended September 30, 2019 2018 Cash: Interest paid, net of capitalized interest (1) $ 216.6 $ 140.5 Income taxes paid, net of refunds (1.7 ) 0.2 Non-cash investing activities: Impact of capital expenditure accruals on property, plant and equipment $ (150.6 ) $ 283.9 Transfers from materials and supplies inventory to property, plant and equipment 21.7 8.9 Non-cash financing activities: Accrued distributions to noncontrolling interests $ 73.8 $ — Non-cash balance sheet movements related to assets held for sale: Working capital $ — $ 12.6 Property, plant and equipment, net — 151.4 Lease liabilities arising from recognition of right-of-use assets: Operating lease $ 6.7 $ — Finance lease 8.0 — __________________ (1) Interest capitalized on major projects was $50.5 million and $30.8 million for the nine months ended September 30, 2019 and 2018.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Segment Information	Note 20 — Segment Information We operate in two primary segments: (i) Gathering and Processing, and (ii) Logistics and Marketing (also referred to as the Downstream Business). Our reportable segments include operating segments that have been aggregated based on the nature of the products and services provided. Our Gathering and Processing segment includes assets used in the gathering of natural gas produced from oil and gas wells and processing this raw natural gas into merchantable natural gas by extracting NGLs and removing impurities; and assets used for crude oil gathering and terminaling. The Gathering and Processing segment's assets are located in the Permian Basin of West Texas and Southeast New Mexico (including the Midland and Delaware Basins); the Eagle Ford Shale in South Texas; the Barnett Shale in North Texas; the Anadarko, Ardmore, and Arkoma Basins in Oklahoma (including the SCOOP and STACK) and South Central Kansas; the Williston Basin in North Dakota; and the onshore and near offshore regions of the Louisiana Gulf Coast and the Gulf of Mexico. Our Logistics and Marketing segment includes the activities and assets necessary to convert mixed NGLs into NGL products and also includes other assets and value-added services such as transporting, storing, fractionating, terminaling and marketing of NGLs and NGL products, including services to LPG exporters; storing and terminaling of refined petroleum products and crude oil and certain natural gas supply and marketing activities in support of our other businesses. The associated assets are generally connected to and supplied in part by our Gathering and Processing segment and, except for pipelines and smaller terminals, are located predominantly in Mont Belvieu and Galena Park, Texas, and in Lake Charles, Louisiana. Other contains the results of commodity derivative activities related to Gathering and Processing hedges of equity volumes that are included in operating margin and mark-to-market gains/losses related to derivative contracts that were not designated as cash flow hedges. Elimination of inter-segment transactions are reflected in the corporate and eliminations column. Reportable segment information is shown in the following tables: Three Months Ended September 30, 2019 Gathering and Processing Logistics and Marketing Other Corporate and Eliminations Total Revenues Sales of commodities $ 254.4 $ 1,403.1 $ (63.3 ) $ — $ 1,594.2 Fees from midstream services 173.0 135.3 — — 308.3 427.4 1,538.4 (63.3 ) — 1,902.5 Intersegment revenues Sales of commodities 534.0 34.9 — (568.9 ) — Fees from midstream services 1.9 7.4 — (9.3 ) — 535.9 42.3 — (578.2 ) — Revenues $ 963.3 $ 1,580.7 $ (63.3 ) $ (578.2 ) $ 1,902.5 Operating margin $ 208.6 $ 228.9 $ (63.3 ) $ — $ 374.2 Other financial information: Total assets (1) $ 12,172.4 $ 6,475.0 $ 157.0 $ 53.9 $ 18,858.3 Goodwill $ 46.6 $ — $ — $ — $ 46.6 Capital expenditures $ 230.3 $ 301.2 $ — $ 10.8 $ 542.3 (1) Assets in the Corporate and Eliminations column primarily include cash, prepaids and debt issuance costs for our TRP Revolver. Three Months Ended September 30, 2018 Gathering and Processing Logistics and Marketing Other Corporate and Eliminations Total Revenues Sales of commodities $ 296.7 $ 2,378.2 $ (20.8 ) $ — $ 2,654.1 Fees from midstream services 199.3 133.0 — — 332.3 496.0 2,511.2 (20.8 ) — 2,986.4 Intersegment revenues Sales of commodities 1,069.7 15.5 — (1,085.2 ) — Fees from midstream services 1.5 8.5 — (10.0 ) — 1,071.2 24.0 — (1,095.2 ) — Revenues $ 1,567.2 $ 2,535.2 $ (20.8 ) $ (1,095.2 ) $ 2,986.4 Operating margin $ 255.3 $ 173.5 $ (20.8 ) $ — $ 408.0 Other financial information: Total assets (1) $ 11,331.5 $ 5,019.0 $ 64.2 $ 111.8 $ 16,526.5 Goodwill $ 256.6 $ — $ — $ — $ 256.6 Capital expenditures $ 453.0 $ 560.7 $ — $ 4.0 $ 1,017.7 (1) Assets in the Corporate and Eliminations column primarily include cash, prepaids and debt issuance costs for our TRP Revolver. Nine Months Ended September 30, 2019 Gathering and Processing Logistics and Marketing Other Corporate and Eliminations Total Revenues Sales of commodities $ 761.5 $ 4,508.5 $ (15.2 ) $ — $ 5,254.8 Fees from midstream services 549.1 393.3 — — 942.4 1,310.6 4,901.8 (15.2 ) — 6,197.2 Intersegment revenues Sales of commodities 1,896.5 117.0 — (2,013.5 ) — Fees from midstream services 5.3 20.1 — (25.4 ) — 1,901.8 137.1 — (2,038.9 ) — Revenues $ 3,212.4 $ 5,038.9 $ (15.2 ) $ (2,038.9 ) $ 6,197.2 Operating margin $ 630.9 $ 565.0 $ (15.2 ) $ — $ 1,180.7 Other financial information: Total assets (1) $ 12,172.4 $ 6,475.0 $ 157.0 $ 53.9 $ 18,858.3 Goodwill $ 46.6 $ — $ — $ — $ 46.6 Capital expenditures $ 1,068.7 $ 1,197.5 $ — $ 38.7 $ 2,304.9 (1) Assets in the Corporate and Eliminations column primarily include cash, prepaids and debt issuance costs for our TRP Revolver. Nine Months Ended September 30, 2018 Gathering and Processing Logistics and Marketing Other Corporate and Eliminations Total Revenues Sales of commodities $ 835.3 $ 6,188.3 $ (42.2 ) $ — $ 6,981.4 Fees from midstream services 536.8 368.1 — — 904.9 1,372.1 6,556.4 (42.2 ) — 7,886.3 Intersegment revenues Sales of commodities 2,848.9 147.0 — (2,995.9 ) — Fees from midstream services 5.4 24.3 — (29.7 ) — 2,854.3 171.3 — (3,025.6 ) — Revenues $ 4,226.4 $ 6,727.7 $ (42.2 ) $ (3,025.6 ) $ 7,886.3 Operating margin $ 718.4 $ 441.7 $ (42.2 ) $ — $ 1,117.9 Other financial information: Total assets (1) $ 11,331.5 $ 5,019.0 $ 64.2 $ 111.8 $ 16,526.5 Goodwill $ 256.6 $ — $ — $ — $ 256.6 Capital expenditures $ 1,008.2 $ 1,229.9 $ — $ 72.3 $ 2,310.4 (1) Assets in the Corporate and Eliminations column primarily include cash, prepaids and debt issuance costs for our TRP Revolver. The following table shows our consolidated revenues disaggregated by product and service for the periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Sales of commodities: Revenue recognized from contracts with customers: Natural gas $ 305.3 $ 451.9 $ 934.2 $ 1,338.5 NGL 1,160.5 2,063.2 3,752.4 5,254.4 Condensate and crude oil 178.7 95.7 488.4 286.1 Petroleum products 11.5 68.2 87.5 176.0 1,656.0 2,679.0 5,262.5 7,055.0 Non-customer revenue: Derivative activities - Hedge 41.5 (23.8 ) 106.1 (59.6 ) Derivative activities - Non-hedge (1) (103.3 ) (1.1 ) (113.8 ) (14.0 ) (61.8 ) (24.9 ) (7.7 ) (73.6 ) Total sales of commodities 1,594.2 2,654.1 5,254.8 6,981.4 Fees from midstream services: Revenue recognized from contracts with customers: NGL transportation and services 45.8 37.5 122.0 115.8 Storage, terminaling and export 84.6 79.6 254.7 233.1 Gathering and processing 171.6 196.5 543.7 522.3 Other 6.3 18.7 22.0 33.7 Total fees from midstream services 308.3 332.3 942.4 904.9 Total revenues $ 1,902.5 $ 2,986.4 $ 6,197.2 $ 7,886.3 (1) Represents derivative activities that are not designated as hedging instruments under ASC 815. The following table shows a reconciliation of reportable segment operating margin to income (loss) before income taxes for the periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Reconciliation of reportable segment operating margin to income (loss) before income taxes: Gathering and Processing operating margin $ 208.6 $ 255.3 $ 630.9 $ 718.4 Logistics and Marketing operating margin 228.9 173.5 565.0 441.7 Other operating margin (63.3 ) (20.8 ) (15.2 ) (42.2 ) Depreciation and amortization expense (244.3 ) (206.3 ) (718.9 ) (607.1 ) General and administrative expense (65.6 ) (59.3 ) (212.3 ) (165.0 ) Interest expense, net (84.2 ) (75.7 ) (229.2 ) (113.3 ) Gain (loss) from sale of equity-method investment 65.8 — 65.8 — Change in contingent considerations — (16.6 ) (8.8 ) (12.1 ) Other, net (8.4 ) (58.8 ) (7.1 ) (10.6 ) Income (loss) before income taxes $ 37.5 $ (8.7 ) $ 70.2 $ 209.8

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently adopted accounting pronouncements Leases In February 2016, the Financial Accounting Standards Board Accounting Standards Update (“ASU”) Leases (net of $0.4 million of lease incentives/deferred rent) • The package for transition relief, which among other things, allows us to carry forward our historical lease classification; • The land easements transition, which allows us to carry forward our historical accounting treatment for land easements prior to the effective date of the new leases standard, and evaluate only new or modified land easements on or after January 1, 2019 under Topic 842; • The short-term lease election, which allows us to elect not to record leases with an initial term of twelve months or less, for all asset classes; • The election to not separate non-lease components from lease components for all the asset classes in our current lease portfolio, where Targa is the lessee; and • The election to not separate non-lease components from lease components for gathering, processing and storage assets, where Targa is the lessor. Based on our election, we determined the non-lease component in certain of these arrangements is the predominant component and therefore account for the arrangements under ASC 606. We recognize the following for all leases (with the exception of short-term leases) at the commencement date: • A lease liability, which is a lessee’s obligation to make lease payments arising from a lease. • A right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. We determine if an arrangement is or contains a lease at inception. Leases with an initial term of twelve months or less are considered short-term leases, which are excluded from the balance sheet. Right-of-use assets and lease liabilities are recognized at the commencement date based on the present value of future lease payments over the lease term. The right-of-use asset also includes any lease prepayments and excludes lease incentives. As most of the Company’s leases do not provide an implicit interest rate, we use our incremental borrowing rate as the discount rate to compute the present value of our lease liability. The discount rate applied is determined based on information available on the date of adoption for all leases existing as of that date, and on the date of lease commencement for all subsequent leases. Our lease arrangements may include variable lease payments based on an index or market rate, or may be based on performance. For variable lease payments based on an index or market rate, we estimate and apply a rate based on information available at the commencement date. Variable lease payments based on performance are excluded from the calculation of the right-of-use asset and lease liability, and are recognized in our Consolidated Statements of Operations when the contingency underlying such variable lease payments is resolved. Our lease terms may include options to extend or terminate the lease. Such options are included in the measurement of our right-of-use asset and liability, provided we determine that we are reasonably certain to exercise the option.

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2019
Inventory Disclosure [Abstract]
Components of Inventories	September 30, 2019 December 31, 2018 Commodities $ 202.6 $ 151.1 Materials and supplies 8.3 13.6 $ 210.9 $ 164.7

Property, Plant and Equipment_2

Property, Plant and Equipment and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2019
Property Plant And Equipment And Intangible Assets [Abstract]
Property, Plant and Equipment and Intangible Assets	September 30, 2019 December 31, 2018 Estimated Useful Lives (In Years) Gathering systems $ 8,767.6 $ 7,547.9 5 to 20 Processing and fractionation facilities 4,961.3 4,001.0 5 to 25 Terminaling and storage facilities 1,459.1 1,138.7 5 to 25 Transportation assets 2,221.9 445.1 10 to 50 Other property, plant and equipment 302.0 334.3 3 to 25 Land 154.4 144.3 — Construction in progress 1,675.9 3,602.5 — Finance lease right-of-use assets 46.9 — Property, plant and equipment 19,589.1 17,213.8 Accumulated depreciation and amortization (4,892.4 ) (4,285.5 ) Property, plant and equipment, net $ 14,696.7 $ 12,928.3 Intangible assets $ 2,736.6 $ 2,736.6 10 to 20 Accumulated amortization (882.2 ) (753.4 ) Intangible assets, net $ 1,854.4 $ 1,983.2
Schedule of Changes in Intangible Assets	The changes in our intangible assets are as follows: Balance at December 31, 2018 $ 1,983.2 Amortization (128.8 ) Balance at September 30, 2019 $ 1,854.4

Investments in Unconsolidated_2

Investments in Unconsolidated Affiliates (Tables)	9 Months Ended
	Sep. 30, 2019
Equity Method Investments And Joint Ventures [Abstract]
Activity Related to Investment in Unconsolidated Affiliate	The following table shows the activity related to our investments in unconsolidated affiliates: Balance at December 31, 2018 Equity Earnings (Loss) Cash Distributions Disposition Contributions Balance at September 30, 2019 GCX (1) $ 211.6 $ 8.9 $ (5.3 ) $ — $ 210.4 $ 425.6 T2 Eagle Ford (2) 99.0 (7.5 ) — — — 91.5 Little Missouri 4 67.3 0.1 — — 33.0 100.4 T2 LaSalle (2) 49.3 (3.5 ) — — — 45.8 GCF 40.3 14.0 (14.7 ) — — 39.6 Cayenne 16.6 5.4 (6.7 ) — 0.3 15.6 Agua Blanca 6.4 (1.5 ) (0.4 ) (4.5 ) — — Total $ 490.5 $ 15.9 $ (27.1 ) $ (4.5 ) $ 243.7 $ 718.5 (1) Our 25% interest in GCX is owned by Targa GCX Pipeline LLC (“GCX DevCo JV”), of which we own a 20% interest. GCX DevCo JV is accounted for on a consolidated basis in our consolidated financial statements. ( 2 ) As of September 30, 2019, $23.5 million of unamortized excess fair value over the T2 LaSalle and T2 Eagle Ford capital accounts remained. These basis differences, which are attributable to the underlying depreciable tangible gathering assets, are being amortized on a straight-line basis as components of equity earnings over the estimated 20-year useful lives of the underlying assets.

Accounts Payable and Accrued _2

Accounts Payable and Accrued Liabilities (Tables)	9 Months Ended
	Sep. 30, 2019
Payables And Accruals [Abstract]
Schedule of Accounts Payable and Accrued Liabilities	September 30, 2019 December 31, 2018 Commodities $ 612.0 $ 721.9 Other goods and services 359.6 474.5 Interest 91.6 79.4 Permian Acquisition contingent consideration — 308.2 Income and other taxes 79.5 45.4 Accrued distributions to noncontrolling interests 73.8 — Other 18.3 7.5 $ 1,234.8 $ 1,636.9

Debt Obligations (Tables)

Debt Obligations (Tables)	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Schedule of Outstanding Debt	September 30, 2019 December 31, 2018 Current: Accounts receivable securitization facility, due December 2019 (1) $ 246.0 $ 280.0 Senior unsecured notes, 4⅛% fixed rate, due November 2019 — 749.4 246.0 1,029.4 Debt issuance costs, net of amortization — (1.5 ) Finance lease liabilities 12.0 — Current debt obligations 258.0 1,027.9 Long-term: Senior secured revolving credit facility, variable rate, due June 2023 (2) 830.0 700.0 Senior unsecured notes: 5¼% fixed rate, due May 2023 559.6 559.6 4¼% fixed rate, due November 2023 583.9 583.9 6¾% fixed rate, due March 2024 580.1 580.1 5⅛% fixed rate, due February 2025 500.0 500.0 5⅞% fixed rate, due April 2026 1,000.0 1,000.0 5⅜% fixed rate, due February 2027 500.0 500.0 6½% fixed rate, due July 2027 750.0 — 5% fixed rate, due January 2028 750.0 750.0 6⅞% fixed rate, due January 2029 750.0 — TPL notes, 4¾% fixed rate, due November 2021 (3) 6.5 6.5 TPL notes, 5⅞% fixed rate, due August 2023 (3) 48.1 48.1 Unamortized premium 0.3 0.3 6,858.5 5,228.5 Debt issuance costs, net of amortization (40.7 ) (31.1 ) Finance lease liabilities 26.9 — Long-term debt 6,844.7 5,197.4 Total debt obligations $ 7,102.7 $ 6,225.3 Irrevocable standby letters of credit outstanding (2) $ 73.8 $ 79.5 (1) As of September 30, 2019, we had $246.0 million of qualifying receivables under our $400.0 million accounts receivable securitization facility, resulting in zero availability. (2) As of September 30, 2019, availability under our $2.2 billion senior secured revolving credit facility (“TRP Revolver”) was $1,296.2 million. (3) “TPL” refers to Targa Pipeline Partners LP.
Interest Rates Incurred on Variable-Rate Debt Obligations	The following table shows the range of interest rates and weighted average interest rate incurred on our variable-rate debt obligations during the nine months ended September 30, 2019: Range of Interest Rates Incurred Weighted Average Interest Rate Incurred TRP Revolver 3.8% - 4.7% 4.2% Accounts receivable securitization facility 2.9% - 3.4% 3.3%

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Summary of Balances of Right-of-Use Assets and Liabilities of Finance and Operating Leases	The balances of right-of-use assets and liabilities of finance leases and operating leases, and their locations on our Consolidated Balance Sheets are as follows: Balance Sheet Location September 30, 2019 Right-of-use assets Operating leases, gross Other long-term assets $ 31.5 Finance leases, gross Property, plant and equipment 46.9 Lease liabilities Current: Operating leases Accounts payable and accrued liabilities $ 6.9 Finance leases Current debt obligations 12.0 Non-current: Operating leases Other long-term liabilities $ 19.6 Finance leases Long-term debt 26.9
Components of Lease Expense	Operating lease costs and short-term lease costs are included in Operating expenses or General and administrative expense in our Consolidated Statements of Operations, depending on the nature of the leases. Finance lease costs are included in Depreciation and amortization expense and Interest expense, net in our Consolidated Statements of Operations. The components of lease expense were as follows: Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Lease cost Operating lease cost $ 2.2 $ 6.0 Short-term lease cost 6.7 22.4 Variable lease cost 0.8 3.6 Finance lease cost Amortization of right-of-use assets 3.4 9.7 Interest expense 0.4 1.2 Total lease cost $ 13.5 $ 42.9
Summary of Other Supplemental Information Related to Leases	Other supplemental information related to our leases are as follows: Nine Months Ended September 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 6.1 Operating cash flows for finance leases 1.2 Financing cash flows for finance leases 8.5
Summary of Maturities of Lease Liabilities under Non-cancellable Leases	The following table presents the maturities of our lease liabilities under non-cancellable leases as of September 30, 2019: Operating Leases Finance Leases Future Minimum Lease Payments Beginning After September 30, 2019 $ 7.8 $ 13.3 2020 6.9 11.4 2021 6.1 10.3 2022 4.6 6.1 2023 2.6 0.6 Thereafter 0.7 — Total undiscounted cash flows 28.7 41.7 Less imputed interest (2.2 ) (2.8 ) Total lease liabilities $ 26.5 $ 38.9
Summary of Future Minimum Payments under Non-cancellable Leases	The following table presents future minimum payments under non-cancellable leases as of December 31, 2018: Leases 2019 $ 20.5 2020 17.7 2021 14.9 2022 12.6 2023 6.0 Thereafter 1.7 Total payments $ 73.4

Partnership Units and Related_2

Partnership Units and Related Matters (Tables)	9 Months Ended
	Sep. 30, 2019
Partners Capital [Abstract]
Schedule of Distributions	The following table details the distributions declared and paid by us for the nine months ended September 30, 2019: Three Months Ended Date Paid or To Be Paid Total Distributions Distributions to Targa Resources Corp. September 30, 2019 November 13, 2019 $ 242.1 $ 239.3 June 30, 2019 August 13, 2019 242.4 239.6 March 31, 2019 April 5, 2019 437.8 435.0 December 31, 2018 February 13, 2019 241.3 238.5

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	9 Months Ended
	Sep. 30, 2019
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Notional Volume of Commodity Hedges	At September 30, 2019, the notional volumes of our commodity derivative contracts were: Commodity Instrument Unit 2019 2020 2021 2022 2023 2024 Natural Gas Swaps MMBtu/d 172,254 96,130 85,151 7,500 - - Natural Gas Basis Swaps MMBtu/d 398,098 352,260 339,360 200,000 200,000 40,000 NGL Swaps Bbl/d 30,468 20,305 8,396 3,236 - - NGL Futures Bbl/d 29,620 15,495 - - - - NGL Options Bbl/d 410 - - - - - Condensate Swaps Bbl/d 4,170 4,140 3,154 1,110 - - Condensate Options Bbl/d 590 - - - - -
Fair Values of Derivative Instruments	The following schedules reflect the fair value of our derivative instruments and their location on our Consolidated Balance Sheets as well as pro forma reporting assuming that we reported derivatives subject to master netting agreements on a net basis: Fair Value as of September 30, 2019 Fair Value as of December 31, 2018 Balance Sheet Derivative Derivative Derivative Derivative Location Assets Liabilities Assets Liabilities Derivatives designated as hedging instruments Commodity contracts Current $ 138.2 $ (11.4 ) $ 112.5 $ (18.9 ) Long-term 56.6 (1.1 ) 31.6 (1.5 ) Total derivatives designated as hedging instruments $ 194.8 $ (12.5 ) $ 144.1 $ (20.4 ) Derivatives not designated as hedging instruments Commodity contracts Current $ 1.9 $ (72.1 ) $ 2.8 $ (14.7 ) Long-term 3.4 (45.0 ) 2.5 (1.6 ) Total derivatives not designated as hedging instruments $ 5.3 $ (117.1 ) $ 5.3 $ (16.3 ) Total current position $ 140.1 $ (83.5 ) $ 115.3 $ (33.6 ) Total long-term position 60.0 (46.1 ) 34.1 (3.1 ) Total derivatives $ 200.1 $ (129.6 ) $ 149.4 $ (36.7 )
Pro Forma Impact of Derivatives Net in Consolidated Balance Sheet	The pro forma impact of reporting derivatives on our Consolidated Balance Sheets on a net basis is as follows: Gross Presentation Pro Forma Net Presentation September 30, 2019 Asset Liability Collateral Asset Liability Current Position Counterparties with offsetting positions or collateral $ 103.9 $ (69.5 ) $ (25.2 ) $ 62.5 $ (53.3 ) Counterparties without offsetting positions - assets 36.2 - - 36.2 - Counterparties without offsetting positions - liabilities - (14.0 ) - - (14.0 ) 140.1 (83.5 ) (25.2 ) 98.7 (67.3 ) Long Term Position Counterparties with offsetting positions or collateral 47.1 (46.1 ) - 32.1 (31.1 ) Counterparties without offsetting positions - assets 12.9 - - 12.9 - Counterparties without offsetting positions - liabilities - - - - - 60.0 (46.1 ) - 45.0 (31.1 ) Total Derivatives Counterparties with offsetting positions or collateral 151.0 (115.6 ) (25.2 ) 94.6 (84.4 ) Counterparties without offsetting positions - assets 49.1 - - 49.1 - Counterparties without offsetting positions - liabilities - (14.0 ) - - (14.0 ) $ 200.1 $ (129.6 ) $ (25.2 ) $ 143.7 $ (98.4 ) Gross Presentation Pro Forma Net Presentation December 31, 2018 Asset Liability Collateral Asset Liability Current Position Counterparties with offsetting positions or collateral $ 100.0 $ (33.6 ) $ (14.2 ) $ 70.0 $ (17.8 ) Counterparties without offsetting positions - assets 15.3 - - 15.3 - Counterparties without offsetting positions - liabilities - - - - - 115.3 (33.6 ) (14.2 ) 85.3 (17.8 ) Long Term Position Counterparties with offsetting positions or collateral 8.9 (3.1 ) - 5.9 (0.1 ) Counterparties without offsetting positions - assets 25.2 - - 25.2 - Counterparties without offsetting positions - liabilities - - - - - 34.1 (3.1 ) - 31.1 (0.1 ) Total Derivatives Counterparties with offsetting positions or collateral 108.9 (36.7 ) (14.2 ) 75.9 (17.9 ) Counterparties without offsetting positions - assets 40.5 - - 40.5 - Counterparties without offsetting positions - liabilities - - - - - $ 149.4 $ (36.7 ) $ (14.2 ) $ 116.4 $ (17.9 )
Amounts Recorded in Other Comprehensive Income (OCI) and Amounts Reclassified from OCI to Revenue	The following tables reflect amounts recorded in Other comprehensive income (“OCI”) and amounts reclassified from OCI to revenue for the periods indicated: Gain (Loss) Recognized in OCI on Derivatives (Effective Portion) Derivatives in Cash Flow Three Months Ended September 30, Nine Months Ended September 30, Hedging Relationships 2019 2018 2019 2018 Commodity contracts $ 118.2 $ (139.6 ) $ 167.8 $ (178.0 ) Gain (Loss) Reclassified from OCI into Income (Effective Portion) Three Months Ended September 30, Nine Months Ended September 30, Location of Gain (Loss) 2019 2018 2019 2018 Revenues $ 41.5 $ (23.9 ) $ 106.1 $ (58.3 )
Gain (Loss) Recognized in Income on Derivatives	The use of mark-to-market accounting for financial instruments can cause non-cash earnings volatility due to changes in the underlying commodity price indices. For the three and nine months ended September 30, 2019, the unrealized mark-to-market losses are primarily attributable to unfavorable movements in natural gas forward basis prices. Location of Gain Gain (Loss) Recognized in Income on Derivatives Derivatives Not Designated Recognized in Income on Three Months Ended September 30, Nine Months Ended September 30, as Hedging Instruments Derivatives 2019 2018 2019 2018 Commodity contracts Revenue $ (103.3 ) $ (1.1 ) $ (113.8 ) $ (14.1 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Breakdown by Fair Value Hierarchy Category for Financial Instruments Included on Consolidated Balance Sheets	The following table shows a breakdown by fair value hierarchy category for (1) financial instruments measurements included on our Consolidated Balance Sheets at fair value and (2) supplemental fair value disclosures for other financial instruments: September 30, 2019 Fair Value Carrying 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) $ 197.5 $ 197.5 $ — $ 196.4 $ 1.1 Liabilities from commodity derivative contracts (1) 127.0 127.0 — 127.0 — TPL contingent consideration (2) 2.4 2.4 — — 2.4 Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value: Cash and cash equivalents 294.9 294.9 — — — TRP Revolver 830.0 830.0 — 830.0 — Senior unsecured notes 6,028.5 6,310.6 — 6,310.6 — Accounts receivable securitization facility 246.0 246.0 — 246.0 — December 31, 2018 Fair Value Carrying 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) $ 144.4 $ 144.4 $ — $ 137.5 $ 6.9 Liabilities from commodity derivative contracts (1) 31.7 31.7 — 31.3 0.4 Permian Acquisition contingent consideration 308.2 308.2 — — 308.2 TPL contingent consideration (2) 2.4 2.4 — — 2.4 Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value: Cash and cash equivalents 203.3 203.3 — — — TRP Revolver 700.0 700.0 — 700.0 — Senior unsecured notes 5,277.9 5,088.9 — 5,088.9 — Accounts receivable securitization facility 280.0 280.0 — 280.0 — (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 13– 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.
Reconciliation of Changes in Fair Value of Financial Instruments Classified as Level 3	The following table summarizes the changes in fair value of our financial instruments classified as Level 3 in the fair value hierarchy: Commodity Derivative Contracts Contingent Asset/(Liability) Consideration Balance, December 31, 2018 $ 6.5 $ (310.6 ) Completion of Permian Acquisition contingent consideration earn-out period — 308.2 New Level 3 derivative instruments (0.4 ) — Transfers out of Level 3 (1) (6.5 ) — Unrealized gain/(loss) included in OCI 1.5 — Balance, September 30, 2019 $ 1.1 $ (2.4 ) (1) Transfers relate to long-term over-the-counter swaps for NGL products for which observable market prices became available for substantially their full term.

Related Party Transactions - _2

Related Party Transactions - Targa (Tables)	9 Months Ended
	Sep. 30, 2019
Related Party Transactions [Abstract]
Summary of Transactions with Affiliates	The following table summarizes transactions with Targa: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Targa billings of payroll and related costs included in operating expenses $ 61.6 $ 61.3 $ 177.3 $ 177.7 Targa allocation of general and administrative expense 59.5 54.6 188.4 149.3 Cash distributions to Targa based on general partner and limited partner ownership 239.6 231.2 913.1 683.7 Cash contributions from Targa related to limited partner ownership (1) 9.8 450.7 196.0 529.2 Cash contributions from Targa to maintain its 2% general partner ownership 0.2 9.2 4.0 10.8 (1) The cash contributions from Targa related to limited partner ownership were allocated 98% to the limited partner and 2% to general partner. See Note 12 – Partnership Units and Related Matters.

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2019
Revenue From Contract With Customer [Abstract]
Summary of Estimated Minimum Revenue Expected to be Recognized in Future Related to Unsatisfied Performance Obligations	The following table includes the estimated minimum revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period and is comprised of fixed consideration primarily attributable to contracts with minimum volume commitments and for which a guaranteed amount of revenue can be calculated . These contracts are comprised primarily of gathering and processing, fractionation, export, terminaling and storage agreements. 2019 2020 2021 and after Fixed consideration to be recognized as of September 30, 2019 $ 130.8 $ 486.3 $ 3,474.4

Other Operating (Income) Expe_2

Other Operating (Income) Expense (Tables)	9 Months Ended
	Sep. 30, 2019
Other Income And Expenses [Abstract]
Other Operating (Income) Expense	Other operating (income) expense is comprised of the following: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (Gain) loss on sale or disposition of assets (1) $ 0.5 $ 61.1 $ 3.6 $ 14.3 Write-down of assets 17.9 — 17.9 — Miscellaneous business tax — 0.4 0.2 1.0 Other — 0.3 — 0.4 $ 18.4 $ 61.8 $ 21.7 $ 15.7 (1) Our 2018 loss is comprised primarily of a $57.5 million loss on sale of our refined products and crude oil storage and terminaling facilities in Tacoma, WA, and Baltimore, MD during the third quarter of 2018, offset by a $48.1 million gain on sale of our inland marine barge business to a third party during the second quarter of 2018.

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Sep. 30, 2019
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	Nine Months Ended September 30, 2019 2018 Cash: Interest paid, net of capitalized interest (1) $ 216.6 $ 140.5 Income taxes paid, net of refunds (1.7 ) 0.2 Non-cash investing activities: Impact of capital expenditure accruals on property, plant and equipment $ (150.6 ) $ 283.9 Transfers from materials and supplies inventory to property, plant and equipment 21.7 8.9 Non-cash financing activities: Accrued distributions to noncontrolling interests $ 73.8 $ — Non-cash balance sheet movements related to assets held for sale: Working capital $ — $ 12.6 Property, plant and equipment, net — 151.4 Lease liabilities arising from recognition of right-of-use assets: Operating lease $ 6.7 $ — Finance lease 8.0 — __________________ (1) Interest capitalized on major projects was $50.5 million and $30.8 million for the nine months ended September 30, 2019 and 2018.

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Information by Segment	Reportable segment information is shown in the following tables: Three Months Ended September 30, 2019 Gathering and Processing Logistics and Marketing Other Corporate and Eliminations Total Revenues Sales of commodities $ 254.4 $ 1,403.1 $ (63.3 ) $ — $ 1,594.2 Fees from midstream services 173.0 135.3 — — 308.3 427.4 1,538.4 (63.3 ) — 1,902.5 Intersegment revenues Sales of commodities 534.0 34.9 — (568.9 ) — Fees from midstream services 1.9 7.4 — (9.3 ) — 535.9 42.3 — (578.2 ) — Revenues $ 963.3 $ 1,580.7 $ (63.3 ) $ (578.2 ) $ 1,902.5 Operating margin $ 208.6 $ 228.9 $ (63.3 ) $ — $ 374.2 Other financial information: Total assets (1) $ 12,172.4 $ 6,475.0 $ 157.0 $ 53.9 $ 18,858.3 Goodwill $ 46.6 $ — $ — $ — $ 46.6 Capital expenditures $ 230.3 $ 301.2 $ — $ 10.8 $ 542.3 (1) Assets in the Corporate and Eliminations column primarily include cash, prepaids and debt issuance costs for our TRP Revolver. Three Months Ended September 30, 2018 Gathering and Processing Logistics and Marketing Other Corporate and Eliminations Total Revenues Sales of commodities $ 296.7 $ 2,378.2 $ (20.8 ) $ — $ 2,654.1 Fees from midstream services 199.3 133.0 — — 332.3 496.0 2,511.2 (20.8 ) — 2,986.4 Intersegment revenues Sales of commodities 1,069.7 15.5 — (1,085.2 ) — Fees from midstream services 1.5 8.5 — (10.0 ) — 1,071.2 24.0 — (1,095.2 ) — Revenues $ 1,567.2 $ 2,535.2 $ (20.8 ) $ (1,095.2 ) $ 2,986.4 Operating margin $ 255.3 $ 173.5 $ (20.8 ) $ — $ 408.0 Other financial information: Total assets (1) $ 11,331.5 $ 5,019.0 $ 64.2 $ 111.8 $ 16,526.5 Goodwill $ 256.6 $ — $ — $ — $ 256.6 Capital expenditures $ 453.0 $ 560.7 $ — $ 4.0 $ 1,017.7 (1) Assets in the Corporate and Eliminations column primarily include cash, prepaids and debt issuance costs for our TRP Revolver. Nine Months Ended September 30, 2019 Gathering and Processing Logistics and Marketing Other Corporate and Eliminations Total Revenues Sales of commodities $ 761.5 $ 4,508.5 $ (15.2 ) $ — $ 5,254.8 Fees from midstream services 549.1 393.3 — — 942.4 1,310.6 4,901.8 (15.2 ) — 6,197.2 Intersegment revenues Sales of commodities 1,896.5 117.0 — (2,013.5 ) — Fees from midstream services 5.3 20.1 — (25.4 ) — 1,901.8 137.1 — (2,038.9 ) — Revenues $ 3,212.4 $ 5,038.9 $ (15.2 ) $ (2,038.9 ) $ 6,197.2 Operating margin $ 630.9 $ 565.0 $ (15.2 ) $ — $ 1,180.7 Other financial information: Total assets (1) $ 12,172.4 $ 6,475.0 $ 157.0 $ 53.9 $ 18,858.3 Goodwill $ 46.6 $ — $ — $ — $ 46.6 Capital expenditures $ 1,068.7 $ 1,197.5 $ — $ 38.7 $ 2,304.9 (1) Assets in the Corporate and Eliminations column primarily include cash, prepaids and debt issuance costs for our TRP Revolver. Nine Months Ended September 30, 2018 Gathering and Processing Logistics and Marketing Other Corporate and Eliminations Total Revenues Sales of commodities $ 835.3 $ 6,188.3 $ (42.2 ) $ — $ 6,981.4 Fees from midstream services 536.8 368.1 — — 904.9 1,372.1 6,556.4 (42.2 ) — 7,886.3 Intersegment revenues Sales of commodities 2,848.9 147.0 — (2,995.9 ) — Fees from midstream services 5.4 24.3 — (29.7 ) — 2,854.3 171.3 — (3,025.6 ) — Revenues $ 4,226.4 $ 6,727.7 $ (42.2 ) $ (3,025.6 ) $ 7,886.3 Operating margin $ 718.4 $ 441.7 $ (42.2 ) $ — $ 1,117.9 Other financial information: Total assets (1) $ 11,331.5 $ 5,019.0 $ 64.2 $ 111.8 $ 16,526.5 Goodwill $ 256.6 $ — $ — $ — $ 256.6 Capital expenditures $ 1,008.2 $ 1,229.9 $ — $ 72.3 $ 2,310.4 (1) Assets in the Corporate and Eliminations column primarily include cash, prepaids and debt issuance costs for our TRP Revolver.
Revenues Disaggregated by Product and Service	The following table shows our consolidated revenues disaggregated by product and service for the periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Sales of commodities: Revenue recognized from contracts with customers: Natural gas $ 305.3 $ 451.9 $ 934.2 $ 1,338.5 NGL 1,160.5 2,063.2 3,752.4 5,254.4 Condensate and crude oil 178.7 95.7 488.4 286.1 Petroleum products 11.5 68.2 87.5 176.0 1,656.0 2,679.0 5,262.5 7,055.0 Non-customer revenue: Derivative activities - Hedge 41.5 (23.8 ) 106.1 (59.6 ) Derivative activities - Non-hedge (1) (103.3 ) (1.1 ) (113.8 ) (14.0 ) (61.8 ) (24.9 ) (7.7 ) (73.6 ) Total sales of commodities 1,594.2 2,654.1 5,254.8 6,981.4 Fees from midstream services: Revenue recognized from contracts with customers: NGL transportation and services 45.8 37.5 122.0 115.8 Storage, terminaling and export 84.6 79.6 254.7 233.1 Gathering and processing 171.6 196.5 543.7 522.3 Other 6.3 18.7 22.0 33.7 Total fees from midstream services 308.3 332.3 942.4 904.9 Total revenues $ 1,902.5 $ 2,986.4 $ 6,197.2 $ 7,886.3 (1) Represents derivative activities that are not designated as hedging instruments under ASC 815.
Reconciliation of Reportable Segment Operating Margin to Income (Loss) Before Income Taxes	The following table shows a reconciliation of reportable segment operating margin to income (loss) before income taxes for the periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Reconciliation of reportable segment operating margin to income (loss) before income taxes: Gathering and Processing operating margin $ 208.6 $ 255.3 $ 630.9 $ 718.4 Logistics and Marketing operating margin 228.9 173.5 565.0 441.7 Other operating margin (63.3 ) (20.8 ) (15.2 ) (42.2 ) Depreciation and amortization expense (244.3 ) (206.3 ) (718.9 ) (607.1 ) General and administrative expense (65.6 ) (59.3 ) (212.3 ) (165.0 ) Interest expense, net (84.2 ) (75.7 ) (229.2 ) (113.3 ) Gain (loss) from sale of equity-method investment 65.8 — 65.8 — Change in contingent considerations — (16.6 ) (8.8 ) (12.1 ) Other, net (8.4 ) (58.8 ) (7.1 ) (10.6 ) Income (loss) before income taxes $ 37.5 $ (8.7 ) $ 70.2 $ 209.8

Organization and Operations (De

Organization and Operations (Details) - Series A Cumulative Redeemable Perpetual Preferred Units [Member] - shares	1 Months Ended	9 Months Ended
	Oct. 31, 2015	Sep. 30, 2019	Dec. 31, 2018
Subsidiary Of Limited Liability Company Or Limited Partnership [Line Items]
Preferred units, outstanding		5,000,000	5,000,000
Preferred units dividend percentage	9.00%	9.00%

Significant Accounting Polici_3

Significant Accounting Policies (Details) - Accounting Standards Update 2016-02 [Member]	Jan. 01, 2019USD ($)
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Effect on retained earnings	$ 0
Right-of-use asset, net of lease incentives and deferred rent	64,200,000
Lease incentives and deferred rent	400,000
Lease liability	$ 64,600,000

Divestitures - Additional Infor

Divestitures - Additional Information (Details) $ in Millions	Apr. 03, 2019USD ($)	Feb. 28, 2019MBbls / d	Nov. 30, 2019USD ($)
Subsequent Event [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Sale price of crude gathering and storage business			$ 135
Targa Badlands LLC [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Subsidiary ownership interest sale percentage	45.00%
Cash consideration received on sale of interest on subsidiary	$ 1,600
Option to purchase equity interest percentage	7.50%
Williams [Member] | Train 7 [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Fractionation-related infrastructure funded and owned percentage		100.00%
Williams [Member] | Mont Belvieu, Texas [Member] | Train 7 [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Percentage of exercised options to acquire equity interest		20.00%
Capacity of pipeline | MBbls / d		110

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Commodities	$ 202.6	$ 151.1
Materials and supplies	8.3	13.6
Total inventory	$ 210.9	$ 164.7

Property, Plant and Equipment_3

Property, Plant and Equipment and Intangible Assets - Property, Plant and Equipment (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Property Plant And Equipment [Line Items]
Property, plant and equipment	$ 19,589.1	$ 17,213.8
Accumulated depreciation and amortization	(4,892.4)	(4,285.5)
Property, plant and equipment, net	14,696.7	12,928.3
Intangible assets	2,736.6	2,736.6
Accumulated amortization	(882.2)	(753.4)
Intangible assets, net	$ 1,854.4	1,983.2
Minimum [Member]
Property Plant And Equipment [Line Items]
Estimated useful life	10 years
Maximum [Member]
Property Plant And Equipment [Line Items]
Estimated useful life	20 years
Gathering Systems [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment	$ 8,767.6	7,547.9
Gathering Systems [Member] | Minimum [Member]
Property Plant And Equipment [Line Items]
Estimated useful life	5 years
Gathering Systems [Member] | Maximum [Member]
Property Plant And Equipment [Line Items]
Estimated useful life	20 years
Processing and Fractionation Facilities [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment	$ 4,961.3	4,001
Processing and Fractionation Facilities [Member] | Minimum [Member]
Property Plant And Equipment [Line Items]
Estimated useful life	5 years
Processing and Fractionation Facilities [Member] | Maximum [Member]
Property Plant And Equipment [Line Items]
Estimated useful life	25 years
Terminaling and Storage Facilities [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment	$ 1,459.1	1,138.7
Terminaling and Storage Facilities [Member] | Minimum [Member]
Property Plant And Equipment [Line Items]
Estimated useful life	5 years
Terminaling and Storage Facilities [Member] | Maximum [Member]
Property Plant And Equipment [Line Items]
Estimated useful life	25 years
Transportation Assets [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment	$ 2,221.9	445.1
Transportation Assets [Member] | Minimum [Member]
Property Plant And Equipment [Line Items]
Estimated useful life	10 years
Transportation Assets [Member] | Maximum [Member]
Property Plant And Equipment [Line Items]
Estimated useful life	50 years
Other Property, Plant and Equipment [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment	$ 302	334.3
Other Property, Plant and Equipment [Member] | Minimum [Member]
Property Plant And Equipment [Line Items]
Estimated useful life	3 years
Other Property, Plant and Equipment [Member] | Maximum [Member]
Property Plant And Equipment [Line Items]
Estimated useful life	25 years
Land [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment	$ 154.4	144.3
Construction in Progress [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment	1,675.9	$ 3,602.5
Finance Lease Right-of-Use Assets [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment	$ 46.9

Property, Plant and Equipment_4

Property, Plant and Equipment and Intangible Assets - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Property Plant And Equipment [Line Items]
Depreciation expense	$ 201.4	$ 161.7	$ 590.1	$ 470.9
Cumulative Impact of Adjustment [Member]
Property Plant And Equipment [Line Items]
Depreciation expense			$ 12.5

Property, Plant and Equipment_5

Property, Plant and Equipment and Intangible Assets - Intangible Assets (Details) $ in Millions	Sep. 30, 2019USD ($)
Estimated amortization expense for intangible assets [Abstract]
2019	$ 171.6
2020	159.4
2021	149.5
2022	141.2
2023	$ 136

Property, Plant and Equipment_6

Property, Plant and Equipment and Intangible Assets - Schedule of Changes in Intangible Assets (Details) $ in Millions	9 Months Ended
	Sep. 30, 2019USD ($)
Intangible Assets, net [Roll Forward]
Balance at December 31, 2018	$ 1,983.2
Amortization	(128.8)
Balance at September 30, 2019	$ 1,854.4

Investments in Unconsolidated_3

Investments in Unconsolidated Affiliates - Additional Information (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019USD ($)JointVenture	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)JointVenture	Sep. 30, 2018USD ($)
Schedule Of Equity Method Investments [Line Items]
Proceeds from sale of equity-method investment	$ 70.3		$ 70.3	$ 0
Gain (loss) from sale of equity-method investment	$ 65.8	$ 0	$ 65.8	$ 0
T2 Joint Ventures [Member] | Gathering and Processing [Member]
Schedule Of Equity Method Investments [Line Items]
Number of operated joint ventures acquired in Atlas mergers | JointVenture	2		2
T2 La Salle [Member] | Gathering and Processing [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership interest	75.00%		75.00%
T2 Eagle Ford [Member] | Gathering and Processing [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership interest	50.00%		50.00%
Little Missouri 4 [Member] | Gathering and Processing [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership interest	50.00%		50.00%
GCX [Member] | Logistics and Marketing [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership interest	25.00%		25.00%
Gulf Coast Fractionators LP [Member] | Logistics and Marketing [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership interest	38.80%		38.80%
Cayenne [Member] | Logistics and Marketing [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership interest	50.00%		50.00%

Investments in Unconsolidated_4

Investments in Unconsolidated Affiliates - Activity Related to Partnership's Investments in Unconsolidated Affiliates (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Schedule Of Equity Method Investments [Line Items]
Balance at beginning of period				$ 490.5
Equity earnings (loss)		$ 10	$ 3	15.9	$ 6.4
Cash Distributions				(27.1)
Disposition				(4.5)
Contributions				243.7
Balance at end of period		718.5		718.5
GCX [Member]
Schedule Of Equity Method Investments [Line Items]
Balance at beginning of period	[1]			211.6
Equity earnings (loss)	[1]			8.9
Cash Distributions	[1]			(5.3)
Disposition	[1]			0
Contributions	[1]			210.4
Balance at end of period	[1]	425.6		425.6
T2 Eagle Ford [Member]
Schedule Of Equity Method Investments [Line Items]
Balance at beginning of period	[2]			99
Equity earnings (loss)	[2]			(7.5)
Cash Distributions	[2]			0
Disposition	[2]			0
Contributions	[2]			0
Balance at end of period	[2]	91.5		91.5
Little Missouri 4 [Member]
Schedule Of Equity Method Investments [Line Items]
Balance at beginning of period				67.3
Equity earnings (loss)				0.1
Cash Distributions				0
Disposition				0
Contributions				33
Balance at end of period		100.4		100.4
T2 La Salle [Member]
Schedule Of Equity Method Investments [Line Items]
Balance at beginning of period	[2]			49.3
Equity earnings (loss)	[2]			(3.5)
Cash Distributions	[2]			0
Disposition	[2]			0
Contributions	[2]			0
Balance at end of period	[2]	45.8		45.8
Gulf Coast Fractionators LP [Member]
Schedule Of Equity Method Investments [Line Items]
Balance at beginning of period				40.3
Equity earnings (loss)				14
Cash Distributions				(14.7)
Disposition				0
Contributions				0
Balance at end of period		39.6		39.6
Cayenne Pipeline Limited Liability Company
Schedule Of Equity Method Investments [Line Items]
Balance at beginning of period				16.6
Equity earnings (loss)				5.4
Cash Distributions				(6.7)
Disposition				0
Contributions				0.3
Balance at end of period		15.6		15.6
Agua Blanca [Member]
Schedule Of Equity Method Investments [Line Items]
Balance at beginning of period				6.4
Equity earnings (loss)				(1.5)
Cash Distributions				(0.4)
Disposition				(4.5)
Contributions				0
Balance at end of period		$ 0		$ 0
[1]	Our 25% interest in GCX is owned by Targa GCX Pipeline LLC (“GCX DevCo JV”), of which we own a 20% interest. GCX DevCo JV is accounted for on a consolidated basis in our consolidated financial statements.
[2]	As of September 30, 2019, $23.5 million of unamortized excess fair value over the T2 LaSalle and T2 Eagle Ford capital accounts remained. These basis differences, which are attributable to the underlying depreciable tangible gathering assets, are being amortized on a straight-line basis as components of equity earnings over the estimated 20-year useful lives of the underlying assets.

Investments in Unconsolidated_5

Investments in Unconsolidated Affiliates - Activity Related to Partnership's Investments in Unconsolidated Affiliates (Parenthetical) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2019USD ($)
T2 LaSalle and T2 Eagle Ford [Member]
Schedule Of Equity Method Investments [Line Items]
Unamortized excess fair value	$ 23.5
Preliminary estimated useful lives of the underlying assets	20 years
GCX DevCo JV [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership interest	20.00%
GCX DevCo JV [Member] | GCX [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership interest	25.00%

Accounts Payable and Accrued _3

Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Components of accounts payable and accrued liabilities [Abstract]
Commodities	$ 612	$ 721.9
Other goods and services	359.6	474.5
Interest	91.6	79.4
Income and other taxes	79.5	45.4
Accrued distributions to noncontrolling interests	73.8
Other	18.3	7.5
Accounts payable and accrued liabilities	$ 1,234.8	1,636.9
Permian Acquisition [Member]
Components of accounts payable and accrued liabilities [Abstract]
Permian Acquisition contingent consideration		$ 308.2

Accounts Payable and Accrued _4

Accounts Payable and Accrued Liabilities - Additional Information (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Payables And Accruals [Line Items]
Outstanding checks	$ 15.3	$ 52.2
Permian Acquisition [Member]
Payables And Accruals [Line Items]
Fair value of earn-out payment	$ 317.1

Debt Obligations (Details)

Debt Obligations (Details) - USD ($) $ in Millions		Sep. 30, 2019	Dec. 31, 2018
Current:
Accounts receivable securitization facility, due December 2019	[1]	$ 246	$ 280
Current debt		246	1,029.4
Debt issuance costs, net of amortization			(1.5)
Finance lease liabilities		12
Current debt obligations		258	1,027.9
Long-term [Abstract]
Long-term debt		6,844.7	5,197.4
Long-term debt including unamortized premium (discount)		6,858.5	5,228.5
Debt issuance costs, net of amortization		(40.7)	(31.1)
Finance lease liabilities		26.9
Total debt obligations		7,102.7	6,225.3
Irrevocable standby letters of credit outstanding	[2]	73.8	79.5
Senior Unsecured Notes [Member] | Senior Unsecured 4 1/8% Notes due November 2019 [Member]
Current:
Long-term debt, current			749.4
Senior Unsecured Notes [Member] | Senior Unsecured 5 1/4% Notes due May 2023 [Member]
Long-term [Abstract]
Long-term debt		559.6	559.6
Senior Unsecured Notes [Member] | Senior Unsecured 4 1/4% Notes due November 2023 [Member]
Long-term [Abstract]
Long-term debt		583.9	583.9
Senior Unsecured Notes [Member] | Senior Unsecured 6 3/4% Notes due March 2024 [Member]
Long-term [Abstract]
Long-term debt		580.1	580.1
Senior Unsecured Notes [Member] | Senior Unsecured 5 1/8% Notes due February 2025 [Member]
Long-term [Abstract]
Long-term debt		500	500
Senior Unsecured Notes [Member] | Senior Unsecured 5⅞% Notes due April 2026 [Member]
Long-term [Abstract]
Long-term debt		1,000	1,000
Senior Unsecured Notes [Member] | Senior Unsecured 5 3/8% Notes due February 2027 [Member]
Long-term [Abstract]
Long-term debt		500	500
Senior Unsecured Notes [Member] | Senior Unsecured 6 1/2% Notes due July 2027 [Member]
Long-term [Abstract]
Long-term debt		750
Senior Unsecured Notes [Member] | Senior Unsecured 5% Notes due January 2028 [Member]
Long-term [Abstract]
Long-term debt		750	750
Senior Unsecured Notes [Member] | Senior Unsecured 6 7/8% Notes due January 2029 [Member]
Long-term [Abstract]
Long-term debt		750
Senior Unsecured Notes [Member] | Targa Pipeline Partners LP [Member] | Senior Unsecured 4 3/4% Notes due November 2021 [Member]
Long-term [Abstract]
Long-term debt	[3]	6.5	6.5
Senior Unsecured Notes [Member] | Targa Pipeline Partners LP [Member] | Senior Unsecured 5 7/8% Notes due August 2023 [Member]
Long-term [Abstract]
Long-term debt	[3]	48.1	48.1
Unamortized premium		0.3	0.3
Revolving Credit Facility [Member] | Senior Secured Revolving Credit Facility, Variable Rate, due June 2023 [Member]
Long-term [Abstract]
Long-term debt	[2]	$ 830	$ 700
[1]	As of September 30, 2019, we had $246.0 million of qualifying receivables under our $400.0 million accounts receivable securitization facility, resulting in zero availability.
[2]	As of September 30, 2019, availability under our $2.2 billion senior secured revolving credit facility (“TRP Revolver”) was $1,296.2 million.
[3]	“TPL” refers to Targa Pipeline Partners LP.

Debt Obligations (Parenthetical

Debt Obligations (Parenthetical) (Details) - USD ($)		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Jan. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Proceeds from borrowings under accounts receivable securitization facility		$ 770,000,000	$ 440,000,000
Accounts receivable securitization facility	[1]	$ 246,000,000			$ 280,000,000
Revolving Credit Facility [Member] | Senior Secured Revolving Credit Facility, Variable Rate, due June 2023 [Member]
Debt Instrument [Line Items]
Maturity date	[2]	Jun. 30, 2023
Maximum borrowing capacity		$ 2,200,000,000
Remaining borrowing capacity		1,296,200,000
Accounts Receivable Securitization Facility [Member]
Debt Instrument [Line Items]
Proceeds from borrowings under accounts receivable securitization facility		246,000,000
Accounts receivable securitization facility		400,000,000
Availability amount under accounts receivable securitization		$ 0
Accounts Receivable Securitization Facility [Member] | Accounts Receivable Securitization Facility Due December 2019 [Member]
Debt Instrument [Line Items]
Maturity date	[1]	Dec. 31, 2019
Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Interest rate on fixed rate debt				4.125%
Senior Unsecured Notes [Member] | Senior Unsecured 4 1/8% Notes due November 2019 [Member]
Debt Instrument [Line Items]
Maturity date		Nov. 30, 2019
Interest rate on fixed rate debt		4.125%		4.125%
Senior Unsecured Notes [Member] | Senior Unsecured 5 1/4% Notes due May 2023 [Member]
Debt Instrument [Line Items]
Maturity date		May 31, 2023
Interest rate on fixed rate debt		5.25%
Senior Unsecured Notes [Member] | Senior Unsecured 4 1/4% Notes due November 2023 [Member]
Debt Instrument [Line Items]
Maturity date		Nov. 30, 2023
Interest rate on fixed rate debt		4.25%
Senior Unsecured Notes [Member] | Senior Unsecured 6 3/4% Notes due March 2024 [Member]
Debt Instrument [Line Items]
Maturity date		Mar. 31, 2024
Interest rate on fixed rate debt		6.75%
Senior Unsecured Notes [Member] | Senior Unsecured 5 1/8% Notes due February 2025 [Member]
Debt Instrument [Line Items]
Maturity date		Feb. 28, 2025
Interest rate on fixed rate debt		5.125%
Senior Unsecured Notes [Member] | Senior Unsecured 6 1/2% Notes due July 2027 [Member]
Debt Instrument [Line Items]
Maturity date		Jul. 31, 2027
Interest rate on fixed rate debt		6.50%
Senior Unsecured Notes [Member] | Senior Unsecured 5⅞% Notes due April 2026 [Member]
Debt Instrument [Line Items]
Maturity date		Apr. 30, 2026
Interest rate on fixed rate debt		5.875%
Senior Unsecured Notes [Member] | Senior Unsecured 5 3/8% Notes due February 2027 [Member]
Debt Instrument [Line Items]
Maturity date		Feb. 28, 2027
Interest rate on fixed rate debt		5.375%
Senior Unsecured Notes [Member] | Senior Unsecured 5% Notes due January 2028 [Member]
Debt Instrument [Line Items]
Maturity date		Jan. 31, 2028
Interest rate on fixed rate debt		5.00%
Senior Unsecured Notes [Member] | Senior Unsecured 6 7/8% Notes due January 2029 [Member]
Debt Instrument [Line Items]
Maturity date		Jan. 31, 2029
Interest rate on fixed rate debt		6.875%
Senior Unsecured Notes [Member] | Targa Pipeline Partners LP [Member] | Senior Unsecured 4 3/4% Notes due November 2021 [Member]
Debt Instrument [Line Items]
Maturity date	[3]	Nov. 30, 2021
Interest rate on fixed rate debt		4.75%
Senior Unsecured Notes [Member] | Targa Pipeline Partners LP [Member] | Senior Unsecured 5 7/8% Notes due August 2023 [Member]
Debt Instrument [Line Items]
Maturity date	[3]	Aug. 31, 2023
Interest rate on fixed rate debt		5.875%
[1]	As of September 30, 2019, we had $246.0 million of qualifying receivables under our $400.0 million accounts receivable securitization facility, resulting in zero availability.
[2]	As of September 30, 2019, availability under our $2.2 billion senior secured revolving credit facility (“TRP Revolver”) was $1,296.2 million.
[3]	“TPL” refers to Targa Pipeline Partners LP.

Debt Obligations - Interest Rat

Debt Obligations - Interest Rates on Variable-Rate Debt Obligations (Details)	Sep. 30, 2019
Accounts Receivable Securitization Facility [Member]
Range of interest rates and weighted average interest rate [Abstract]
Weighted average interest rate incurred	3.30%
Accounts Receivable Securitization Facility [Member] | Minimum [Member]
Range of interest rates and weighted average interest rate [Abstract]
Range of interest rates incurred	2.90%
Accounts Receivable Securitization Facility [Member] | Maximum [Member]
Range of interest rates and weighted average interest rate [Abstract]
Range of interest rates incurred	3.40%
TRP Revolver [Member]
Range of interest rates and weighted average interest rate [Abstract]
Weighted average interest rate incurred	4.20%
TRP Revolver [Member] | Minimum [Member]
Range of interest rates and weighted average interest rate [Abstract]
Range of interest rates incurred	3.80%
TRP Revolver [Member] | Maximum [Member]
Range of interest rates and weighted average interest rate [Abstract]
Range of interest rates incurred	4.70%

Debt Obligations - Senior Unsec

Debt Obligations - Senior Unsecured Notes Issuance (Details) - Senior Unsecured Notes [Member] $ in Millions	1 Months Ended
	Jan. 31, 2019USD ($)
Debt Instrument [Line Items]
Interest rate on fixed rate debt	4.125%
6 1/2% Senior Notes due July 2027 [Member]
Debt Instrument [Line Items]
Senior notes issued	$ 750
Interest rate on fixed rate debt	6.50%
Maturity date	Jul. 31, 2027
6 7/8% Senior Notes due January 2029 [Member]
Debt Instrument [Line Items]
Senior notes issued	$ 750
Interest rate on fixed rate debt	6.875%
Maturity date	Jan. 31, 2029
6 1/2% Senior Notes due July 2027 and 6 7/8% Senior Notes due January 2029 [Member]
Debt Instrument [Line Items]
Net proceeds from senior notes	$ 1,486.6

Debt Obligations - Debt Extingu

Debt Obligations - Debt Extinguishment (Details) - Senior Unsecured Notes [Member] - USD ($) $ in Millions	1 Months Ended
	Feb. 28, 2019	Sep. 30, 2019	Jan. 31, 2019
Debt Instrument [Line Items]
Interest rate on fixed rate debt			4.125%
4 1/8% Senior Notes due November 2019 [Member]
Debt Instrument [Line Items]
Interest rate on fixed rate debt		4.125%	4.125%
Write off debt issuance cost	$ 1.4

Other Long-term Liabilities - A

Other Long-term Liabilities - Additional Information (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Deferred Revenue [Abstract]
Deferred revenue	$ 173	$ 175.5
Channelview Splitter [Member] | Noble Americas Corp [Member]
Deferred Revenue [Abstract]
Deferred revenue		$ 129	$ 129	$ 129

Leases - Additional Information

Leases - Additional Information (Details)	Sep. 30, 2019
Lessee Lease Description [Line Items]
Weighted average remaining lease term for operating lease	4 years
Weighted average remaining lease term for finance lease	3 years
Weighted average discount rate for operating leases	3.90%
Weighted average discount rate for finance leases	3.90%
Minimum [Member]
Lessee Lease Description [Line Items]
Leases, remaining lease term	1 year
Maximum [Member]
Lessee Lease Description [Line Items]
Leases, remaining lease term	6 years
Options to extend lease term	10 years

Leases - Summary of Balances of

Leases - Summary of Balances of Right-of-Use Assets and Liabilities of Finance and Operating Leases (Details) $ in Millions	Sep. 30, 2019USD ($)
Right-of-use assets
Operating leases, gross	$ 31.5
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:OtherAssetsNoncurrent
Finance leases, gross	$ 46.9
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:PropertyPlantAndEquipmentGross
Current:
Operating leases	$ 6.9
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:AccountsPayableAndAccruedLiabilitiesCurrent
Finance leases	$ 12
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:LiabilitiesCurrent
Non-current:
Operating leases	$ 19.6
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesNoncurrent
Finance leases	$ 26.9
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:LiabilitiesNoncurrent

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Lease cost
Operating lease cost	$ 2.2	$ 6
Short-term lease cost	6.7	22.4
Variable lease cost	0.8	3.6
Finance lease cost
Amortization of right-of-use assets	3.4	9.7
Interest expense	0.4	1.2
Total lease cost	$ 13.5	$ 42.9

Leases - Summary of Other Suppl

Leases - Summary of Other Supplemental Information Related to Leases (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$ 6.1
Operating cash flows for finance leases	1.2
Financing cash flows for finance leases	$ 8.5	$ 0

Leases - Summary of Maturities

Leases - Summary of Maturities of Lease Liabilities under Non-cancellable Leases (Details) $ in Millions	Sep. 30, 2019USD ($)
Future Minimum Lease Payments - Operating Leases
2019	$ 7.8
2020	6.9
2021	6.1
2022	4.6
2023	2.6
Thereafter	0.7
Total undiscounted cash flows	28.7
Less imputed interest	(2.2)
Total lease liabilities	26.5
Future Minimum Lease Payments - Finance Leases
2019	13.3
2020	11.4
2021	10.3
2022	6.1
2023	0.6
Total undiscounted cash flows	41.7
Less imputed interest	(2.8)
Total lease liabilities	$ 38.9

Leases - Summary of Future Mini

Leases - Summary of Future Minimum Payments under Non-cancellable Leases (Details) $ in Millions	Dec. 31, 2018USD ($)
Future non-cancelable commitments for each of the next five fiscal years and in Aggregate Thereafter [Abstract]
2019	$ 20.5
2020	17.7
2021	14.9
2022	12.6
2023	6
Thereafter	1.7
Total payments	$ 73.4

Partnership Units and Related_3

Partnership Units and Related Matters - Distributions (Details) - USD ($) $ in Millions	3 Months Ended					9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Distributions declared and/or paid by the Partnership [Abstract]
Date Paid or To Be Paid	Nov. 13, 2019	Aug. 13, 2019	Apr. 5, 2019	Feb. 13, 2019
Total Distributions	$ 242.4				$ 233.9	$ 921.5	$ 692.1
Distributions Paid [Member]
Distributions declared and/or paid by the Partnership [Abstract]
Total Distributions	242.1	$ 242.4	$ 437.8	$ 241.3
Distributions to Targa Resources Corp.	$ 239.3	$ 239.6	$ 435	$ 238.5

Partnership Units and Related_4

Partnership Units and Related Matters (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended		3 Months Ended					9 Months Ended
	Oct. 31, 2019	Oct. 31, 2015	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Limited Partners Capital Account [Line Items]
Contributions from Targa Resources Corp.			$ 10				$ 459.8	$ 200	$ 540
Distributions declared and/or paid by the Partnership [Abstract]
Distributions payable date			Nov. 13, 2019	Aug. 13, 2019	Apr. 5, 2019	Feb. 13, 2019
Subsequent Event [Member]
Distributions declared and/or paid by the Partnership [Abstract]
Date of declaration for cash distribution	2019-10
Cash distribution declared per unit (in dollars per share)	$ 0.1875
Distributions to Targa Resources Corp.	$ 0.9
Distributions payable date	Nov. 15, 2019
Series A Preferred Limited Partner Units [Member]
Limited Partners Capital Account [Line Items]
Series A preferred limited partners units issued (in units)			5,000,000			5,000,000		5,000,000
Preferred units dividend percentage		9.00%						9.00%
Distribution to holders of preferred units			$ 2.8					$ 8.4
Series A Preferred Limited Partner Units [Member] | London Interbank Offered Rate (LIBOR)
Limited Partners Capital Account [Line Items]
Percentage of variable interest rate for distribution on preferred units upon maturity		7.71%
TRC/TRP Merger | Limited Partners [Member]
Limited Partners Capital Account [Line Items]
Percentage of capital contribution towards partner's interest maintained								98.00%
TRC/TRP Merger | Targa Resources GP LLC [Member]
Limited Partners Capital Account [Line Items]
Percentage of general partner's interest maintained								2.00%
Contributions from Targa Resources Corp. (in units)								0
TRC/TRP Merger | Targa Resources Corp
Limited Partners Capital Account [Line Items]
Contributions from Targa Resources Corp.			$ 200					$ 10

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities - Notional Volumes Of The Partnership's Commodity Derivative Contracts (Details)	9 Months Ended
	Sep. 30, 2019MMBTUbbl
Year 2019 [Member] | Swaps [Member] | Natural Gas [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in MMBtu per day) | MMBTU	172,254
Year 2019 [Member] | Swaps [Member] | NGL [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in Bbl per day)	30,468
Year 2019 [Member] | Swaps [Member] | Condensate [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in Bbl per day)	4,170
Year 2019 [Member] | Basis Swaps [Member] | Natural Gas [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in MMBtu per day) | MMBTU	398,098
Year 2019 [Member] | Future | NGL [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in Bbl per day)	29,620
Year 2019 [Member] | Options [Member] | NGL [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in Bbl per day)	410
Year 2019 [Member] | Options [Member] | Condensate [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in Bbl per day)	590
Year 2020 [Member] | Swaps [Member] | Natural Gas [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in MMBtu per day) | MMBTU	96,130
Year 2020 [Member] | Swaps [Member] | NGL [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in Bbl per day)	20,305
Year 2020 [Member] | Swaps [Member] | Condensate [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in Bbl per day)	4,140
Year 2020 [Member] | Basis Swaps [Member] | Natural Gas [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in MMBtu per day) | MMBTU	352,260
Year 2020 [Member] | Future | NGL [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in Bbl per day)	15,495
Year 2020 [Member] | Options [Member] | NGL [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in Bbl per day)	0
Year 2020 [Member] | Options [Member] | Condensate [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in Bbl per day)	0
Year 2021 [Member] | Swaps [Member] | Natural Gas [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in MMBtu per day) | MMBTU	85,151
Year 2021 [Member] | Swaps [Member] | NGL [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in Bbl per day)	8,396
Year 2021 [Member] | Swaps [Member] | Condensate [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in Bbl per day)	3,154
Year 2021 [Member] | Basis Swaps [Member] | Natural Gas [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in MMBtu per day) | MMBTU	339,360
Year 2021 [Member] | Future | NGL [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in Bbl per day)	0
Year 2021 [Member] | Options [Member] | NGL [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in Bbl per day)	0
Year 2021 [Member] | Options [Member] | Condensate [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in Bbl per day)	0
Year 2022 [Member] | Swaps [Member] | Natural Gas [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in MMBtu per day) | MMBTU	7,500
Year 2022 [Member] | Swaps [Member] | NGL [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in Bbl per day)	3,236
Year 2022 [Member] | Swaps [Member] | Condensate [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in Bbl per day)	1,110
Year 2022 [Member] | Basis Swaps [Member] | Natural Gas [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in MMBtu per day) | MMBTU	200,000
Year 2022 [Member] | Future | NGL [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in Bbl per day)	0
Year 2022 [Member] | Options [Member] | NGL [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in Bbl per day)	0
Year 2022 [Member] | Options [Member] | Condensate [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in Bbl per day)	0
Year 2024 [Member] | Swaps [Member] | Natural Gas [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in MMBtu per day) | MMBTU	0
Year 2024 [Member] | Swaps [Member] | NGL [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in Bbl per day)	0
Year 2024 [Member] | Swaps [Member] | Condensate [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in Bbl per day)	0
Year 2024 [Member] | Basis Swaps [Member] | Natural Gas [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in MMBtu per day) | MMBTU	40,000
Year 2024 [Member] | Future | NGL [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in Bbl per day)	0
Year 2024 [Member] | Options [Member] | NGL [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in Bbl per day)	0
Year 2024 [Member] | Options [Member] | Condensate [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in Bbl per day)	0
Year 2023 [Member] | Swaps [Member] | Natural Gas [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in MMBtu per day) | MMBTU	0
Year 2023 [Member] | Swaps [Member] | NGL [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in Bbl per day)	0
Year 2023 [Member] | Swaps [Member] | Condensate [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in Bbl per day)	0
Year 2023 [Member] | Basis Swaps [Member] | Natural Gas [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in MMBtu per day) | MMBTU	200,000
Year 2023 [Member] | Future | NGL [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in Bbl per day)	0
Year 2023 [Member] | Options [Member] | NGL [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in Bbl per day)	0
Year 2023 [Member] | Options [Member] | Condensate [Member]
Derivative [Line Items]
Notional volumes of commodity hedges (in Bbl per day)	0

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities - Fair Values Derivatives, Balance Sheet Location, by Derivative Contract Type (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Derivatives, Fair Value [Line Items]
Derivative assets	$ 200.1	$ 149.4
Derivative assets	140.1	115.3
Derivative assets	60	34.1
Derivative liabilities	(129.6)	(36.7)
Derivative liabilities	(83.5)	(33.6)
Derivative liabilities	(46.1)	(3.1)
Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	194.8	144.1
Derivative liabilities	(12.5)	(20.4)
Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Current Assets from Risk Management Activities [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	138.2	112.5
Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Long-term Assets from Risk Management Activities [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	56.6	31.6
Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Current Liabilities from Risk Management Activities [Member]
Derivatives, Fair Value [Line Items]
Derivative liabilities	(11.4)	(18.9)
Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Long-term Position [Member]
Derivatives, Fair Value [Line Items]
Derivative liabilities	(1.1)	(1.5)
Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	5.3	5.3
Derivative liabilities	(117.1)	(16.3)
Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Current Assets from Risk Management Activities [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	1.9	2.8
Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Long-term Assets from Risk Management Activities [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	3.4	2.5
Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Current Liabilities from Risk Management Activities [Member]
Derivatives, Fair Value [Line Items]
Derivative liabilities	(72.1)	(14.7)
Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Long-term Position [Member]
Derivatives, Fair Value [Line Items]
Derivative liabilities	$ (45)	$ (1.6)

Derivative Instruments and He_5

Derivative Instruments and Hedging Activities - Pro Forma Impact - Offsetting Assets (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Derivative Asset [Abstract]
Gross asset	$ 200.1	$ 149.4
Pro forma net presentation, asset, total	143.7	116.4
Counterparties with Offsetting Position or Collateral [Member]
Derivative Asset [Abstract]
Gross asset	151	108.9
Pro forma net presentation, asset	94.6	75.9
Counterparties without Offsetting Position [Member]
Derivative Asset [Abstract]
Gross asset	49.1	40.5
Pro forma net presentation, asset	49.1	40.5
Current Position [Member]
Derivative Asset [Abstract]
Gross asset	140.1	115.3
Pro forma net presentation, asset, current	98.7	85.3
Current Position [Member] | Counterparties with Offsetting Position or Collateral [Member]
Derivative Asset [Abstract]
Gross asset	103.9	100
Pro forma net presentation, asset	62.5	70
Current Position [Member] | Counterparties without Offsetting Position [Member]
Derivative Asset [Abstract]
Gross asset	36.2	15.3
Pro forma net presentation, asset	36.2	15.3
Long-term Position [Member]
Derivative Asset [Abstract]
Gross asset	60	34.1
Pro forma net presentation, asset, noncurrent	45	31.1
Long-term Position [Member] | Counterparties with Offsetting Position or Collateral [Member]
Derivative Asset [Abstract]
Gross asset	47.1	8.9
Pro forma net presentation, asset	32.1	5.9
Long-term Position [Member] | Counterparties without Offsetting Position [Member]
Derivative Asset [Abstract]
Gross asset	12.9	25.2
Pro forma net presentation, asset	$ 12.9	$ 25.2

Derivative Instruments and He_6

Derivative Instruments and Hedging Activities - Pro Forma Impact - Offsetting Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Derivative Liability [Abstract]
Gross liability	$ (129.6)	$ (36.7)
Pro forma net presentation, liability, total	(98.4)	(17.9)
Counterparties with Offsetting Position or Collateral [Member]
Derivative Liability [Abstract]
Gross liability	(115.6)	(36.7)
Pro forma net presentation, liability, total	(84.4)	(17.9)
Counterparties without Offsetting Position [Member]
Derivative Liability [Abstract]
Gross liability	(14)
Pro forma net presentation, liability, total	(14)
Current Position [Member]
Derivative Liability [Abstract]
Gross liability	(83.5)	(33.6)
Pro forma net presentation, liability, current	(67.3)	(17.8)
Current Position [Member] | Counterparties with Offsetting Position or Collateral [Member]
Derivative Liability [Abstract]
Gross liability	(69.5)	(33.6)
Pro forma net presentation, liability, current	(53.3)	(17.8)
Current Position [Member] | Counterparties without Offsetting Position [Member]
Derivative Liability [Abstract]
Gross liability	(14)
Pro forma net presentation, liability, current	(14)
Long-term Position [Member]
Derivative Liability [Abstract]
Gross liability	(46.1)	(3.1)
Pro forma net presentation, liability, noncurrent	(31.1)	(0.1)
Long-term Position [Member] | Counterparties with Offsetting Position or Collateral [Member]
Derivative Liability [Abstract]
Gross liability	(46.1)	(3.1)
Pro forma net presentation, liability, noncurrent	$ (31.1)	$ (0.1)

Derivative Instruments and He_7

Derivative Instruments and Hedging Activities - Pro Forma Impact - Offsetting Collateral (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Derivative Asset [Abstract]
Gross collateral	$ (25.2)	$ (14.2)
Counterparties with Offsetting Position or Collateral [Member]
Derivative Asset [Abstract]
Gross collateral	(25.2)	(14.2)
Current Position [Member]
Derivative Asset [Abstract]
Gross collateral	(25.2)	(14.2)
Current Position [Member] | Counterparties with Offsetting Position or Collateral [Member]
Derivative Asset [Abstract]
Gross collateral	$ (25.2)	$ (14.2)

Derivative Instruments and He_8

Derivative Instruments and Hedging Activities - Additional Information (Details) $ in Millions	Sep. 30, 2019USD ($)
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Estimated fair value of derivative instruments, net asset	$ 70.5
Amount expected to reclassify commodity hedge related deferred gains to earnings before income taxes	182.2
Amount of deferred gains to be reclassified into earnings before income taxes over next twelve months	$ 126.7

Derivative Instruments and He_9

Derivative Instruments and Hedging Activities - Amounts Included in OCI, Income and AOCI (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenues [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from OCI into Income (Effective Portion)	$ 41.5	$ (23.9)	$ 106.1	$ (58.3)
Commodity Contracts [Member] | Revenues [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income on Derivatives	(103.3)	(1.1)	(113.8)	(14.1)
Cash Flow Hedging [Member] | Commodity Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in OCI on Derivatives (Effective Portion)	$ 118.2	$ (139.6)	$ 167.8	$ (178)

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) $ in Millions	Sep. 30, 2019USD ($)Swap
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Derivatives financial instruments, fair value, net	$ 70.5
Derivative fair value of net liability if commodity price increases by 10 percent	34
Derivative fair value of net asset if commodity price decreases by 10 percent	$ 175.4
Number of natural gas basis swaps categorized as Level 3 | Swap	10
Permian Acquisition [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of earn-out payment	$ 317.1

Fair Value Measurements - Break

Fair Value Measurements - Breakdown by Fair Value Hierarchy Category for Financial Instruments (Details) - USD ($) $ in Millions		Sep. 30, 2019	Dec. 31, 2018
Financial Instruments Recorded on Our Consolidated Balance Sheets at Fair Value [Abstract]
Assets from commodity derivative contracts		$ 143.7	$ 116.4
Liabilities from commodity derivative contracts		98.4	17.9
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Accounts receivable securitization facility	[1]	246	280
Carrying Value [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Fair Value [Abstract]
Assets from commodity derivative contracts	[2]	197.5	144.4
Liabilities from commodity derivative contracts	[2]	127	31.7
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Cash and cash equivalents		294.9	203.3
Accounts receivable securitization facility		246	280
Carrying Value [Member] | Permian Acquisition [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Fair Value [Abstract]
Contingent consideration			308.2
Carrying Value [Member] | TRP Revolver [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Long-term debt		830	700
Carrying Value [Member] | Targa Pipeline Partners LP [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Fair Value [Abstract]
Contingent consideration	[3]	2.4	2.4
Carrying Value [Member] | Senior Unsecured Notes [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Long-term debt		6,028.5	5,277.9
Fair Value [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Fair Value [Abstract]
Assets from commodity derivative contracts	[2]	197.5	144.4
Liabilities from commodity derivative contracts	[2]	127	31.7
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Cash and cash equivalents		294.9	203.3
Accounts receivable securitization facility		246	280
Fair Value [Member] | Permian Acquisition [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Fair Value [Abstract]
Contingent consideration			308.2
Fair Value [Member] | TRP Revolver [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Long-term debt		830	700
Fair Value [Member] | Targa Pipeline Partners LP [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Fair Value [Abstract]
Contingent consideration	[3]	2.4	2.4
Fair Value [Member] | Senior Unsecured Notes [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Long-term debt		6,310.6	5,088.9
Fair Value [Member] | Level 2 [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Fair Value [Abstract]
Assets from commodity derivative contracts	[2]	196.4	137.5
Liabilities from commodity derivative contracts	[2]	127	31.3
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Accounts receivable securitization facility		246	280
Fair Value [Member] | Level 2 [Member] | TRP Revolver [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Long-term debt		830	700
Fair Value [Member] | Level 2 [Member] | Senior Unsecured Notes [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Long-term debt		6,310.6	5,088.9
Fair Value [Member] | Level 3 [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Fair Value [Abstract]
Assets from commodity derivative contracts	[2]	1.1	6.9
Liabilities from commodity derivative contracts	[2]		0.4
Fair Value [Member] | Level 3 [Member] | Permian Acquisition [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Fair Value [Abstract]
Contingent consideration			308.2
Fair Value [Member] | Level 3 [Member] | Targa Pipeline Partners LP [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Fair Value [Abstract]
Contingent consideration	[3]	$ 2.4	$ 2.4
[1]	As of September 30, 2019, we had $246.0 million of qualifying receivables under our $400.0 million accounts receivable securitization facility, resulting in zero availability.
[2]	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 13– 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.
[3]	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.

Fair Value Measurements - Chang

Fair Value Measurements - Changes in Fair Value of Financial Instruments Classified as Level 3 (Details) $ in Millions	9 Months Ended
	Sep. 30, 2019USD ($)
Contingent Consideration [Member]
Changes in fair value of financial instruments classified as Level 3 in fair value hierarchy [Roll Forward]
Balance, beginning of period	$ (310.6)
Balance, end of period	(2.4)
Permian Acquisition [Member] | Contingent Consideration [Member]
Changes in fair value of financial instruments classified as Level 3 in fair value hierarchy [Roll Forward]
Completion of contingent consideration earn-out period	308.2
Commodity Derivative Contracts Asset/(Liability) [Member]
Changes in fair value of financial instruments classified as Level 3 in fair value hierarchy [Roll Forward]
Balance, beginning of period	6.5
New Level 3 derivative instruments	(0.4)
Transfers out of Level 3	(6.5)	[1]
Unrealized gain/(loss) included in OCI	1.5
Balance, end of period	$ 1.1
[1]	Transfers relate to long-term over-the-counter swaps for NGL products for which observable market prices became available for substantially their full term.

Related Party Transactions - _3

Related Party Transactions - Targa - Summary of Transactions with Affiliates (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Summary of transactions with Targa [Abstract]
Cash distributions to Targa based on general partner and limited partner ownership		$ 242.4	$ 233.9	$ 921.5	$ 692.1
Cash contributions from Targa related to limited partner ownership				196	529.2
Targa Resources Corp. [Member]
Summary of transactions with Targa [Abstract]
Targa billings of payroll and related costs included in operating expenses		61.6	61.3	177.3	177.7
Targa allocation of general and administrative expense		59.5	54.6	188.4	149.3
Cash distributions to Targa based on general partner and limited partner ownership		239.6	231.2	913.1	683.7
Cash contributions from Targa related to limited partner ownership	[1]	9.8	450.7	196	529.2
Contributions from Targa Resources Corp		$ 0.2	$ 9.2	$ 4	$ 10.8
Targa Resources Corp. [Member] | Targa Resources GP LLC [Member]
Summary of transactions with Targa [Abstract]
Percentage of general partner's interest maintained		2.00%	2.00%	2.00%	2.00%
[1]	The cash contributions from Targa related to limited partner ownership were allocated 98% to the limited partner and 2% to general partner. See Note 12 – Partnership Units and Related Matters.

Related Party Transactions - _4

Related Party Transactions - Targa - Summary of Transactions with Affiliates (Parenthetical) (Details) - Targa Resources Corp. [Member]	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Limited Partners [Member]
Related Party Transaction [Line Items]
Percentage of capital contribution towards partner's interest maintained	98.00%	98.00%	98.00%	98.00%
Targa Resources GP LLC [Member]
Related Party Transaction [Line Items]
Percentage of general partner's interest maintained	2.00%	2.00%	2.00%	2.00%

Revenue - Estimated Minimum Rev

Revenue - Estimated Minimum Revenue Expected to be Recognized in Future Related to Unsatisfied Performance Obligations (Details) - Fixed Price Contract [Member] $ in Millions	Sep. 30, 2019USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2019-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Fixed consideration to be recognized	$ 130.8
Estimated remaining duration of contracts	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2020-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Fixed consideration to be recognized	$ 486.3
Estimated remaining duration of contracts	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Fixed consideration to be recognized	$ 3,474.4
Estimated remaining duration of contracts

Revenue - Additional Informatio

Revenue - Additional Information (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2019-10-01	Sep. 30, 2019
Minimum [Member]
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Estimated remaining duration of contracts	1 year
Maximum [Member]
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Estimated remaining duration of contracts	19 years

Other Operating (Income) Expe_3

Other Operating (Income) Expense (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Other Income And Expenses [Abstract]
(Gain) loss on sale or disposition of assets	[1]	$ 0.5	$ 61.1	$ 3.6	$ 14.3
Write-down of assets		17.9		17.9	0
Miscellaneous business tax			0.4	0.2	1
Other			0.3		0.4
Total other operating (income) expense		$ 18.4	$ 61.8	$ 21.7	$ 15.7
[1]	Our 2018 loss is comprised primarily of a $57.5 million loss on sale of our refined products and crude oil storage and terminaling facilities in Tacoma, WA, and Baltimore, MD during the third quarter of 2018, offset by a $48.1 million gain on sale of our inland marine barge business to a third party during the second quarter of 2018.

Other Operating (Income) Expe_4

Other Operating (Income) Expense (Parenthetical) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Jun. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Other Operating Income Expense [Line Items]
(Gain) loss on sale or disposal of assets			$ (3.6)	$ (14.3)
Refined Products and Crude Oil Storage and Terminaling Facilities [Member] | Tacoma, WA, and Baltimore, MD [Member]
Other Operating Income Expense [Line Items]
(Gain) loss on sale or disposal of assets	$ 57.5
Inland Marine Barge Business [Member]
Other Operating Income Expense [Line Items]
(Gain) loss on sale or disposal of assets		$ (48.1)

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018
Cash [Abstract]
Interest paid, net of capitalized interest	[1]	$ 216.6	$ 140.5
Income taxes paid, net of refunds		(1.7)	0.2
Non-cash investing activities [Abstract]
Impact of capital expenditure accruals on property, plant and equipment		(150.6)	283.9
Transfers from materials and supplies inventory to property, plant and equipment		21.7	8.9
Non-cash financing activities:
Accrued distributions to noncontrolling interests		73.8
Non-cash balance sheet movements related to assets held for sale:
Working capital			12.6
Property, plant and equipment, net			$ 151.4
Lease liabilities arising from recognition of right-of-use assets:
Operating lease		6.7
Finance lease		$ 8
[1]	Interest capitalized on major projects was $50.5 million and $30.8 million for the nine months ended September 30, 2019 and 2018.

Supplemental Cash Flow Inform_4

Supplemental Cash Flow Information (Parenthetical) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Supplemental Cash Flow Information [Abstract]
Interest capitalized on major projects	$ 50.5	$ 30.8

Segment Information - Additiona

Segment Information - Additional Information (Details)	9 Months Ended
	Sep. 30, 2019Segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segment Information, Revenues a

Segment Information, Revenues and Operating Margin (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenues [Abstract]
Revenues	$ 1,902.5	$ 2,986.4	$ 6,197.2	$ 7,886.3
Operating margin	374.2	408	1,180.7	1,117.9
Sales of Commodities [Member]
Revenues [Abstract]
Revenues	1,594.2	2,654.1	5,254.8	6,981.4
Fees from Midstream Services [Member]
Revenues [Abstract]
Revenues	308.3	332.3	942.4	904.9
Gathering and Processing [Member]
Revenues [Abstract]
Revenues	963.3	1,567.2	3,212.4	4,226.4
Operating margin	208.6	255.3	630.9	718.4
Logistics and Marketing [Member]
Revenues [Abstract]
Revenues	1,580.7	2,535.2	5,038.9	6,727.7
Operating margin	228.9	173.5	565	441.7
Other [Member]
Revenues [Abstract]
Revenues	(63.3)	(20.8)	(15.2)	(42.2)
Operating margin	(63.3)	(20.8)	(15.2)	(42.2)
Corporate and Elimination [Member]
Revenues [Abstract]
Revenues	(578.2)	(1,095.2)	(2,038.9)	(3,025.6)
Operating Segments [Member]
Revenues [Abstract]
Revenues	1,902.5	2,986.4	6,197.2	7,886.3
Operating Segments [Member] | Sales of Commodities [Member]
Revenues [Abstract]
Revenues	1,594.2	2,654.1	5,254.8	6,981.4
Operating Segments [Member] | Fees from Midstream Services [Member]
Revenues [Abstract]
Revenues	308.3	332.3	942.4	904.9
Operating Segments [Member] | Gathering and Processing [Member]
Revenues [Abstract]
Revenues	427.4	496	1,310.6	1,372.1
Operating Segments [Member] | Gathering and Processing [Member] | Sales of Commodities [Member]
Revenues [Abstract]
Revenues	254.4	296.7	761.5	835.3
Operating Segments [Member] | Gathering and Processing [Member] | Fees from Midstream Services [Member]
Revenues [Abstract]
Revenues	173	199.3	549.1	536.8
Operating Segments [Member] | Logistics and Marketing [Member]
Revenues [Abstract]
Revenues	1,538.4	2,511.2	4,901.8	6,556.4
Operating Segments [Member] | Logistics and Marketing [Member] | Sales of Commodities [Member]
Revenues [Abstract]
Revenues	1,403.1	2,378.2	4,508.5	6,188.3
Operating Segments [Member] | Logistics and Marketing [Member] | Fees from Midstream Services [Member]
Revenues [Abstract]
Revenues	135.3	133	393.3	368.1
Operating Segments [Member] | Other [Member]
Revenues [Abstract]
Revenues	(63.3)	(20.8)	(15.2)	(42.2)
Operating Segments [Member] | Other [Member] | Sales of Commodities [Member]
Revenues [Abstract]
Revenues	(63.3)	(20.8)	(15.2)	(42.2)
Intersegment Eliminations [Member] | Gathering and Processing [Member]
Revenues [Abstract]
Revenues	535.9	1,071.2	1,901.8	2,854.3
Intersegment Eliminations [Member] | Gathering and Processing [Member] | Sales of Commodities [Member]
Revenues [Abstract]
Revenues	534	1,069.7	1,896.5	2,848.9
Intersegment Eliminations [Member] | Gathering and Processing [Member] | Fees from Midstream Services [Member]
Revenues [Abstract]
Revenues	1.9	1.5	5.3	5.4
Intersegment Eliminations [Member] | Logistics and Marketing [Member]
Revenues [Abstract]
Revenues	42.3	24	137.1	171.3
Intersegment Eliminations [Member] | Logistics and Marketing [Member] | Sales of Commodities [Member]
Revenues [Abstract]
Revenues	34.9	15.5	117	147
Intersegment Eliminations [Member] | Logistics and Marketing [Member] | Fees from Midstream Services [Member]
Revenues [Abstract]
Revenues	7.4	8.5	20.1	24.3
Intersegment Eliminations [Member] | Corporate and Elimination [Member]
Revenues [Abstract]
Revenues	(578.2)	(1,095.2)	(2,038.9)	(3,025.6)
Intersegment Eliminations [Member] | Corporate and Elimination [Member] | Sales of Commodities [Member]
Revenues [Abstract]
Revenues	(568.9)	(1,085.2)	(2,013.5)	(2,995.9)
Intersegment Eliminations [Member] | Corporate and Elimination [Member] | Fees from Midstream Services [Member]
Revenues [Abstract]
Revenues	$ (9.3)	$ (10)	$ (25.4)	$ (29.7)

Segment Information, Other Fina

Segment Information, Other Financial Information (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Other financial information [Abstract]
Total assets		$ 18,858.3		$ 18,858.3		$ 16,890.1
Goodwill		46.6		46.6		$ 46.6
Operating Segments [Member]
Other financial information [Abstract]
Total assets	[1]	18,858.3	$ 16,526.5	18,858.3	$ 16,526.5
Goodwill		46.6	256.6	46.6	256.6
Capital expenditures		542.3	1,017.7	2,304.9	2,310.4
Gathering and Processing [Member] | Operating Segments [Member]
Other financial information [Abstract]
Total assets	[1]	12,172.4	11,331.5	12,172.4	11,331.5
Goodwill		46.6	256.6	46.6	256.6
Capital expenditures		230.3	453	1,068.7	1,008.2
Logistics and Marketing [Member] | Operating Segments [Member]
Other financial information [Abstract]
Total assets	[1]	6,475	5,019	6,475	5,019
Capital expenditures		301.2	560.7	1,197.5	1,229.9
Other [Member] | Operating Segments [Member]
Other financial information [Abstract]
Total assets	[1]	157	64.2	157	64.2
Corporate and Elimination [Member] | Operating Segments [Member]
Other financial information [Abstract]
Total assets	[1]	53.9	111.8	53.9	111.8
Capital expenditures		$ 10.8	$ 4	$ 38.7	$ 72.3
[1]	Assets in the Corporate and Eliminations column primarily include cash, prepaids and debt issuance costs for our TRP Revolver.

Segment Information, Revenues D

Segment Information, Revenues Disaggregated by Product and Service (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenue from External Customer [Line Items]
Revenue recognized from customer and non-customer		$ 1,656	$ 2,679	$ 5,262.5	$ 7,055
Non-customer revenue		(61.8)	(24.9)	(7.7)	(73.6)
Total revenues		1,902.5	2,986.4	6,197.2	7,886.3
Designated as Hedging Instrument [Member]
Revenue from External Customer [Line Items]
Non-customer revenue		41.5	(23.8)	106.1	(59.6)
Not Designated as Hedging Instrument [Member]
Revenue from External Customer [Line Items]
Non-customer revenue	[1]	(103.3)	(1.1)	(113.8)	(14)
Natural Gas [Member]
Revenue from External Customer [Line Items]
Revenue recognized from customer and non-customer		305.3	451.9	934.2	1,338.5
NGL [Member]
Revenue from External Customer [Line Items]
Revenue recognized from customer and non-customer		1,160.5	2,063.2	3,752.4	5,254.4
Condensate And Crude Oil [Member]
Revenue from External Customer [Line Items]
Revenue recognized from customer and non-customer		178.7	95.7	488.4	286.1
Petroleum Products [Member]
Revenue from External Customer [Line Items]
Revenue recognized from customer and non-customer		11.5	68.2	87.5	176
Sales of Commodities [Member]
Revenue from External Customer [Line Items]
Total revenues		1,594.2	2,654.1	5,254.8	6,981.4
NGL Transportation and Services [Member]
Revenue from External Customer [Line Items]
Total revenues		45.8	37.5	122	115.8
Storage, Terminaling and Export [Member]
Revenue from External Customer [Line Items]
Total revenues		84.6	79.6	254.7	233.1
Gathering and Processing [Member]
Revenue from External Customer [Line Items]
Total revenues		171.6	196.5	543.7	522.3
Other [Member]
Revenue from External Customer [Line Items]
Total revenues		6.3	18.7	22	33.7
Fees from Midstream Services [Member]
Revenue from External Customer [Line Items]
Total revenues		$ 308.3	$ 332.3	$ 942.4	$ 904.9
[1]	Represents derivative activities that are not designated as hedging instruments under ASC 815.

Segment Information, Reconcilia

Segment Information, Reconciliation of Reportable Segment Operating Margin to Income (Loss) Before Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Reconciliation of reportable segment operating margin to income (loss) before income taxes:
Operating margin	$ 374.2	$ 408	$ 1,180.7	$ 1,117.9
Depreciation and amortization expense	(244.3)	(206.3)	(718.9)	(607.1)
General and administrative expense	(65.6)	(59.3)	(212.3)	(165)
Interest expense, net	(84.2)	(75.7)	(229.2)	(113.3)
Gain (loss) from sale of equity-method investment	65.8	0	65.8	0
Change in contingent considerations	0	(16.6)	(8.8)	(12.1)
Other, net	(8.4)	(58.8)	(7.1)	(10.6)
Income (loss) before income taxes	37.5	(8.7)	70.2	209.8
Gathering and Processing [Member]
Reconciliation of reportable segment operating margin to income (loss) before income taxes:
Operating margin	208.6	255.3	630.9	718.4
Logistics and Marketing [Member]
Reconciliation of reportable segment operating margin to income (loss) before income taxes:
Operating margin	228.9	173.5	565	441.7
Other [Member]
Reconciliation of reportable segment operating margin to income (loss) before income taxes:
Operating margin	$ (63.3)	$ (20.8)	$ (15.2)	$ (42.2)