Targa Resources (TRGP) 10-Q 2 May 14 2014 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2014	Apr. 18, 2014
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'Targa Resources Corp.	'
Entity Central Index Key	'0001389170	'
Current Fiscal Year End Date	'--12-31	'
Entity Well-known Seasoned Issuer	'Yes	'
Entity Voluntary Filers	'No	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	42,158,848
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	31-Mar-14	'

CONSOLIDATED_BALANCE_SHEETS_Un

CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$94.90	$66.70
Trade receivables, net of allowances of $1.1 million and $1.1 million	610.4	658.8
Inventories	88.5	150.7
Deferred income taxes	4.3	0.1
Assets from risk management activities	1.6	2
Other current assets	10.2	18.9
Total current assets	809.9	897.2
Property, plant and equipment	5,936.90	5,758.40
Accumulated depreciation	-1,472.60	-1,408.50
Property, plant and equipment, net	4,464.30	4,349.90
Intangible assets, net	638.1	653.4
Long-term assets from risk management activities	2.9	3.1
Investment in unconsolidated affiliate	53.7	55.9
Other long-term assets	86.3	89.1
Total assets	6,055.20	6,048.60
Current liabilities:	'	'
Accounts payable and accrued liabilities	745.5	761.8
Deferred income taxes	0	0.6
Liabilities from risk management activities	12.9	8
Total current liabilities	758.4	770.4
Long-term debt	2,891.70	2,989.30
Long-term liabilities from risk management activities	1.2	1.4
Deferred income taxes	138.8	135.5
Other long-term liabilities	66.1	60.7
Commitments and contingencies (see Note 16)	'	'
Targa Resources Corp. stockholders' equity:	'	'
Common stock ($0.001 par value, 300,000,000 shares authorized, 42,533,883 shares issued and 42,158,848 shares outstanding as of March 31, 2014, and 42,529,068 shares issued and 42,162,178 shares outstanding as of December 31, 2013)	0	0
Preferred stock ($0.001 par value, 100,000,000 shares authorized, no shares issued and outstanding as of March 31, 2014 and December 31, 2013)	0	0
Additional paid-in capital	149.2	151.6
Retained earnings	19.6	20.5
Accumulated other comprehensive loss	-0.8	-0.5
Treasury stock, at cost (375,035 shares as of March 31, 2014 and 366,890 as of December 31, 2013)	-23.6	-22.8
Total Targa Resources Corp. stockholders' equity	144.4	148.8
Noncontrolling interests in subsidiaries	2,054.60	1,942.50
Total owners' equity	2,199	2,091.30
Total liabilities and owners' equity	$6,055.20	$6,048.60

CONSOLIDATED_BALANCE_SHEETS_Un1

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Millions, except Share data, unless otherwise specified
Current assets:	'	'
Trade receivables, allowances	$1.10	$1.10
Owners' equity:	'	'
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized (in shares)	300,000,000	300,000,000
Common stock, shares issued (in shares)	42,533,883	42,529,068
Common stock, shares outstanding (in shares)	42,158,848	42,162,178
Preferred stock, par value (in dollar per share)	$0.00	$0.00
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Treasury Stock, shares (in shares)	375,035	366,890

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)	3 Months Ended
In Millions, except Per Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) [Abstract]	'	'
Revenues	$2,352.90	$1,397.80
Costs and expenses:	'	'
Product purchases	1,973.30	1,137.50
Operating expenses	104.3	86.1
Depreciation and amortization expenses	79.6	64
General and administrative expenses	38	36.3
Other operating income	-0.7	0
Income from operations	158.4	73.9
Other income (expense):	'	'
Interest expense, net	-33.9	-32.1
Equity earnings	4.9	1.6
Other	0	-0.2
Income before income taxes	129.4	43.2
Income tax (expense) benefit:	'	'
Current	-23.9	-9.2
Deferred	1.4	-0.2
Income tax expense total	-22.5	-9.4
Net income	106.9	33.8
Less: Net income attributable to noncontrolling interests	87.3	20.4
Net income available to common shareholders	$19.60	$13.40
Net income available per common share - basic (in dollars per share)	$0.47	$0.32
Net income available per common share - diluted (in dollars per share)	$0.47	$0.32
Weighted average shares outstanding - basic (in shares)	42	41.6
Weighted average shares outstanding - diluted (in shares)	42.1	42

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) [Abstract]	'	'
Net income attributable to Targa Resources Corp.	$19.60	$13.40
Commodity hedging contracts:	'	'
Change in fair value, pre-tax	-1.5	-1.2
Change in fair value, related income tax	0.6	0.5
Change in fair value, after tax	-0.9	-0.7
Settlement reclassified to revenues, pre-tax	0.8	-0.9
Settlement reclassified to revenues, related income tax	-0.3	0.4
Settlement reclassified to revenues, after tax	0.5	-0.5
Interest rate swaps:	'	'
Settlements reclassified to interest expense, net, pre-tax	0.2	0.2
Settlements reclassified to interest expense, net, related income tax	-0.1	-0.1
Settlements reclassified to interest expense, net, after tax	0.1	0.1
Other comprehensive income (loss) attributable to Targa Resources Corp., pre-tax	-0.5	-1.9
Other comprehensive income (loss) attributable to Targa Resources Corp., related income tax	0.2	0.8
Other comprehensive income (loss) attributable to Targa Resources Corp., after tax	-0.3	-1.1
Comprehensive income attributable to Targa Resources Corp.	19.3	12.3
Net income attributable to noncontrolling interests	87.3	20.4
Commodity hedging contracts:	'	'
Change in fair value, pre-tax	-10.3	-6.4
Change in fair value, related income tax	0	0
Change in fair value, after tax	-10.3	-6.4
Settlement reclassified to revenues, pre-tax	5.5	-5.7
Settlement reclassified to revenues, related income tax	0	0
Settlement reclassified to revenues, after tax	5.5	-5.7
Interest rate swaps:	'	'
Settlements reclassified to interest expense, net, pre-tax	1.1	1.5
Settlements reclassified to interest expense, net, related income tax	0	0
Settlements reclassified to interest expense, net, after tax	1.1	1.5
Other comprehensive income (loss) attributable to noncontrolling interests, before tax	-3.7	-10.6
Other comprehensive income (loss) attributable to noncontrolling interests, related income tax	0	0
Other comprehensive income (loss) attributable to noncontrolling interests, after tax	-3.7	-10.6
Comprehensive income attributable to noncontrolling interests	83.6	9.8
Total comprehensive income	$102.90	$22.10

CONSOLIDATED_STATEMENTS_OF_CHA

CONSOLIDATED STATEMENTS OF CHANGES IN OWNERS' EQUITY (Unaudited) (USD $)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings (Accumulated Deficit) [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Treasury Shares [Member]	Noncontrolling Interests [Member]	Total
In Millions, except Share data in Thousands
Balance at beginning of period at Dec. 31, 2012	$0	$184.40	($32)	$1.20	($9.50)	$1,609.30	$1,753.40
Balance at beginning of period (in shares) at Dec. 31, 2012	42,295	'	'	'	198	'	'
Compensation on equity grants	0	2.1	0	0	0	1.7	3.8
Compensation on equity grants (in shares)	35	'	'	'	0	'	'
Accrual of distribution equivalent rights	'	'	'	'	'	-0.3	-0.3
Sale of Partnership limited partner interests	0	0	0	0	0	105.3	105.3
Impact of Partnership equity transactions	0	6.3	0	0	0	-6.3	0
Dividends	0	-19.4	0	0	0	0	-19.4
Distributions	0	0	0	0	0	-61.7	-61.7
Other comprehensive loss	0	0	0	-1.1	0	-10.6	-11.7
Net income	0	0	13.4	0	0	20.4	33.8
Balance at end of period at Mar. 31, 2013	0	173.4	-18.6	0.1	-9.5	1,657.80	1,803.20
Balance end of period (in shares) at Mar. 31, 2013	42,330	'	'	'	198	'	'
Balance at beginning of period at Dec. 31, 2013	0	151.6	20.5	-0.5	-22.8	1,942.50	2,091.30
Balance at beginning of period (in shares) at Dec. 31, 2013	42,162	'	'	'	367	'	'
Compensation on equity grants	0	1.6	0	0	0	2.6	4.2
Compensation on equity grants (in shares)	5	'	'	'	0	'	'
Accrual of distribution equivalent rights	0	0	0	0	0	-0.6	-0.6
Repurchase of common stock	0	0	0	0	-0.8	0	-0.8
Repurchase of common stock (in shares)	-8	'	'	'	8	'	'
Sale of Partnership limited partner interests	0	0	0	0	0	115.3	115.3
Receivables from unit offerings	0	-5.9	0	0	0	0	-5.9
Impact of Partnership equity transactions	0	7.1	0	0	0	-7.1	0
Dividends	0	-5.2	-20.5	0	0	0	-25.7
Distributions	0	0	0	0	0	-81.7	-81.7
Other comprehensive loss	0	0	0	-0.3	0	-3.7	-4
Net income	0	0	19.6	0	0	87.3	106.9
Balance at end of period at Mar. 31, 2014	$0	$149.20	$19.60	($0.80)	($23.60)	$2,054.60	$2,199
Balance end of period (in shares) at Mar. 31, 2014	42,159	'	'	'	375	'	'

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Cash flows from operating activities	'	'
Net income	$106.90	$33.80
Amortization in interest expense	3.6	4.1
Compensation on equity grants	4.2	3.8
Depreciation and amortization expense	79.6	64
Accretion of asset retirement obligations	1.2	1.1
Deferred income tax expense	-1.4	0.2
Equity earnings, net of distributions	0	-1.6
Risk management activities	-0.3	-0.2
Gain on sale or disposition of assets	-0.8	-0.1
Changes in operating assets and liabilities:	'	'
Receivables and other assets	57.3	95.1
Inventory	60.6	33.7
Accounts payable and other liabilities	7.8	-41
Net cash provided by operating activities	318.7	192.9
Cash flows from investing activities	'	'
Outlays for property, plant and equipment	-197.7	-221.8
Purchase of material and supplies	0.1	0
Return of capital from unconsolidated affiliate	2.2	0
Other, net	1.7	-4.6
Net cash used in investing activities	-193.7	-226.4
Cash flows from financing activities, Partnership loan facilities:	'	'
Proceeds	460	325
Repayments	-500	-380
Partnership accounts receivable securitization facility:	'	'
Borrowings	29.5	171.4
Repayments	-75.7	-60
Non-Partnership loan facilities:	'	'
Proceeds	4	5
Repayments	-16	-15
Costs incurred in connection with financing arrangements	-1.2	-3.2
Distributions to owners	-81.7	-61.7
Proceeds from sale of common units of the Partnership	110.6	107.4
Dividends to common and common equivalent shareholders	-25.5	-19
Repurchase of common stock	-0.8	0
Net cash provided by (used in) financing activities	-96.8	69.9
Net change in cash and cash equivalents	28.2	36.4
Cash and cash equivalents, beginning of period	66.7	76.3
Cash and cash equivalents, end of period	$94.90	$112.70

Organization

Organization	3 Months Ended
	Mar. 31, 2014
Organization [Abstract]	'
Organization	'
	Note 1 — Organization
	Targa Resources Corp. (“TRC”) is a Delaware corporation formed in October 2005. Our common stock is listed on the New York Stock Exchange under the symbol “TRGP.” In this Quarterly Report, unless the context requires otherwise, references to “we,” “us,” “our,” “the Company” or “Targa” are intended to mean our consolidated business and operations.

Basis_of_Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2014
Basis of Presentation [Abstract]	'
Basis of Presentation	'
	Note 2 — Basis of Presentation
	We have prepared these unaudited consolidated financial statements in accordance with GAAP for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. While we derived the year-end balance sheet data from audited financial statements, this interim report does not include all disclosures required by GAAP for annual periods. These unaudited consolidated financial statements and other information included in this Quarterly Report should be read in conjunction with our consolidated financial statements and notes thereto included in our Annual Report.
	The unaudited consolidated financial statements for the three months ended March 31, 2014 and 2013 include all adjustments, which we believe are necessary, for a fair presentation of the results for interim periods. 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.
	Our financial results for the three months ended March 31, 2014 are not necessarily indicative of the results that may be expected for the full year.
	Reclassifications Affecting Statement of Cash Flows
	In conjunction with the ongoing integration of Badlands into its financial reporting environment during 2013, the Partnership obtained further information about acquisition date balance sheet, including the nature of the items comprising assumed Accounts payable and accrued liabilities.  The Partnership determined that certain assumed liabilities related to purchases that, under its accounting policies, the Partnership considered capital in nature. Consequently, the Partnership made certain refinements to better reflect Badlands cash flow activity on a basis similar to that used its other operations. As a result of these refinements, certain Badlands cash flow activity was presented in its 2013 Form 10-K on a basis different than that utilized for previous quarterly reporting during 2013. In preparing this quarterly report the Partnership has made certain measurement period reclassifications to the comparative Statement of Cash Flows for the three months ended March 31, 2013 to conform to the presentation of its Form 10-K, reclassifying $18.9 million related to capital expenditures previously included in Accounts payable and other liabilities of operating activities to Outlays for property, plant and equipment in investing activities, as shown below.
			Three Months Ended March 31, 2013
	Revised line items Consolidated Statement of Cash Flows		As Reported			Reclassification			Revised
	Cash Flows from operating activities
	Changes in operating assets and liabilities:
	Accounts payable and other liabilities		$	(59.9	)	$	18.9		$	(41.0	)
	Net cash provided by operating activities			174			18.9			192.9
	Cash flows from investing activities:
	Changes in investing assets and liabilities:
	Outlays for property, plant and equipment			(202.9	)		(18.9	)		(221.8	)
	Net cash used in investing activities			(207.5	)		(18.9	)		(226.4	)
	One of our indirect subsidiaries is the sole general partner of Targa Resources Partners LP (“the Partnership”). Because we control the general partner of the Partnership, under GAAP, we must reflect our ownership interests in the Partnership on a consolidated basis. Accordingly, the Partnership’s financial results are included in our consolidated financial statements even though the distribution or transfer of Partnership assets is limited by the terms of the Partnership’s partnership agreement, as well as restrictive covenants in the Partnership’s lending agreements. The limited partner interests in the Partnership not owned by us are reflected in our results of operations as net income attributable to noncontrolling interests and in our balance sheet equity section as noncontrolling interests in subsidiaries. Throughout these footnotes, we make a distinction where relevant between financial results of the Partnership versus those of a standalone parent and its non-partnership subsidiaries.
	As of March 31, 2014, our interests in the Partnership consist of the following:
		·	a 2% general partner interest, which we hold through our 100% ownership interest in the general partner of the Partnership;
		·	all Incentive Distribution Rights (“IDRs”); and
		·	12,945,659 common units of the Partnership, representing an 11.4% limited partnership interest.
	The Partnership is engaged in the business of gathering, compressing, treating, processing and selling natural gas; storing, fractionating, treating, transporting and selling NGLs and NGL products; gathering, storing and terminaling crude oil; and storing, terminaling and selling refined petroleum products. See Note 18 for an analysis of our and the Partnership’s operations by business segment.

Significant_Accounting_Policie

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2014
Significant Accounting Policies [Abstract]	'
Significant Accounting Policies	'
	Note 3 — Significant Accounting Policies
	Accounting Policy Updates/Revisions
	The accounting policies that we follow are set forth in Note 3 of the Notes to Consolidated Financial Statements in our Annual Report on Form 10-K for the year ended December 31, 2013. There were no significant updates or revisions to these policies during the three months ended March 31, 2014.
	Recent Accounting Pronouncements
	In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. The amendment, required to be applied prospectively for reporting periods beginning after December 15, 2014, limits discontinued operations reporting to disposals of components of an entity that represent strategic shifts that have, or will have, a major effect on operations and financial results.  The amendment requires expanded disclosures for discontinued operations and also requires additional disclosures regarding disposals of individually significant components that do not qualify as discontinued operations. Early adoption is permitted, but only for disposals (or classifications as held for sale) that have not been reported in financial statements previously issued or available for issuance. This amendment has no impact on our current disclosures, but will in the future if we dispose of any individually significant components.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2014
Inventories [Abstract]	'
Inventories	'
	Note 4 — Inventories
	The components of inventories consisted of the following:
		31-Mar-14		31-Dec-13
	Commodities	$	74.7	$	136.4
	Materials and supplies		13.8		14.3
		$	88.5	$	150.7

Property_Plant_and_Equipment_a

Property, Plant and Equipment and Intangible Assets	3 Months Ended
	Mar. 31, 2014
Property, Plant and Equipment and Intangible Assets [Abstract]	'
Property, Plant and Equipment and Intangible Assets	'
	Note 5 — Property, Plant and Equipment and Intangible Assets
		31-Mar-14									31-Dec-13
		Targa Resources Partners LP			TRC Non-Partnership			Targa Resources Corp. Consolidated			Targa Resources Partners LP			TRC Non-Partnership			Targa Resources Corp. Consolidated			Estimated Useful Lives (In Years)
	Gathering systems	$	2,293.60		$	-		$	2,293.60		$	2,230.10		$	-		$	2,230.10		5 to 20
	Processing and fractionation facilities		1,600.70			6.6			1,607.30			1,598.00			6.6			1,604.60		5 to 25
	Terminaling and storage facilities		735.4			-			735.4			715.2			-			715.2		5 to 25
	Transportation assets		334.7			-			334.7			294.7			-			294.7		10 to 25
	Other property, plant and equipment		124.8			0.2			125			121.3			0.2			121.5		3 to 25
	Land		89.7			-			89.7			89.5			-			89.5			-
	Construction in progress		751.2			-			751.2			702.8			-			702.8			-
	Property, plant and equipment		5,930.10			6.8			5,936.90			5,751.60			6.8			5,758.40
	Accumulated depreciation		(1,470.3	)		(2.3	)		(1,472.6	)		(1,406.2	)		(2.3	)		(1,408.5	)
	Property, plant and equipment, net	$	4,459.80		$	4.5		$	4,464.30		$	4,345.40		$	4.5		$	4,349.90
	Intangible assets	$	681.8		$	-		$	681.8		$	681.8		$	-		$	681.8			20
	Accumulated amortization		(43.7	)		-			(43.7	)		(28.4	)		-			(28.4	)
	Intangible assets, net	$	638.1		$	-		$	638.1		$	653.4		$	-		$	653.4

Asset_Retirement_Obligations

Asset Retirement Obligations	3 Months Ended
	Mar. 31, 2014
Asset Retirement Obligations [Abstract]	'
Asset Retirement Obligations	'
	Note 6 — Asset Retirement Obligations
	Our asset retirement obligations primarily relate to certain gas gathering pipelines and processing facilities, and are included in our consolidated balance sheets as a component of other long-term liabilities. The changes in our aggregate asset retirement obligations are as follows:
		Three Months Ended
		31-Mar-14
	Beginning of period	$	50.9
	Change in cash flow estimate		2.1
	Accretion expense		1.2
	End of period	$	54.2

Investment_in_Unconsolidated_A

Investment in Unconsolidated Affiliate	3 Months Ended
	Mar. 31, 2014
Investment in Unconsolidated Affiliate [Abstract]	'
Investment in Unconsolidated Affiliate	'
	Note 7 – Investment in Unconsolidated Affiliate
	At March 31, 2014, the Partnership’s unconsolidated investment consisted of a 38.8% ownership interest in Gulf Coast Fractionators LP (“GCF”).
	The following table shows the activity related to the Partnership’s investment in GCF:
			Three Months Ended
			31-Mar-14
	Beginning of period		$	55.9
	Equity earnings			4.9
	Cash distributions (1)			(7.1	)
	End of period		$	53.7
	_______
	-1	Includes distribution in excess of cumulative earnings of $2.2 million that are considered a return of capital and disclosed in cash flows from investing activities in the Consolidated Statements of Cash Flows

Accounts_Payable_and_Accrued_L

Accounts Payable and Accrued Liabilities	3 Months Ended
	Mar. 31, 2014
Accounts Payable and Accrued Liabilities [Abstract]	'
Accounts Payable and Accrued Liabilities	'
	Note 8 — Accounts Payable and Accrued Liabilities
	The components of accounts payable and accrued liabilities consisted of the following:
		31-Mar-14		31-Dec-13
	Commodities	$	528.1	$	520.8
	Other goods and services		109.7		146.8
	Interest		42.4		35.9
	Compensation and benefits		23.5		40.3
	Income and other taxes		32.8		10.2
	Other		9		7.8
		$	745.5	$	761.8

Debt_Obligations

Debt Obligations	3 Months Ended
	Mar. 31, 2014
Debt Obligations [Abstract]	'
Debt Obligations	'
	Note 9 — Debt Obligations
			31-Mar-14			31-Dec-13
	Long-term debt:
	Non-Partnership obligations:
	TRC Senior secured revolving credit facility, variable rate, due October 2017 (1)		$	72		$	84
	Obligations of the Partnership: (2)
	Senior secured revolving credit facility, variable rate, due October 2017 (3)			355			395
	Senior unsecured notes, 7⅞% fixed rate, due October 2018			250			250
	Senior unsecured notes, 6⅞% fixed rate, due February 2021			483.6			483.6
	Unamortized discount			(27.4	)		(28.0	)
	Senior unsecured notes, 6⅜% fixed rate, due August 2022			300			300
	Senior unsecured notes, 5¼% fixed rate, due May 2023			600			600
	Senior unsecured notes, 4¼% fixed rate, due November 2023			625			625
	Accounts receivable securitization facility, due December 2014 (4)			233.5			279.7
	Total long-term debt		$	2,891.70		$	2,989.30
	Irrevocable standby letters of credit:
	Letters of credit outstanding under TRC Senior secured credit facility (1)		$	-		$	-
	Letters of credit outstanding under the Partnership senior secured revolving credit facility (3)			97.2			86.8
			$	97.2		$	86.8
	___________
	-1	As of March 31, 2014, availability under TRC’s $150 million senior secured revolving credit facility was $78.0 million.
	-2	While we consolidate the debt of the Partnership in our financial statements, we do not have the obligation to make interest payments or debt payments with respect to the debt of the Partnership.
	-3	As of March 31, 2014, availability under the Partnership’s $1.2 billion senior secured revolving credit facility was $747.8 million.
	-4	All amounts outstanding under the Partnership’s Securitization Facility are reflected as long-term debt in our balance sheet because the Partnership has the ability and intent to fund the Securitization Facility’s borrowings on a long-term basis.
	The following table shows the range of interest rates and weighted average interest rate incurred on our and the Partnership’s variable-rate debt obligations during the three months ended March 31, 2014:
			Range of Interest Rates Incurred			Weighted Average Interest Rate Incurred
	TRC senior secured revolving credit facility			2.90%			2.90%
	Partnership's senior secured revolving credit facility			2.2% - 4.5%			2.30%
	Partnership's accounts receivable securitization facility			0.90%			0.90%
	Compliance with Debt Covenants
	As of March 31, 2014, both we and the Partnership were in compliance with the covenants contained in our various debt agreements.

Partnership_Units_and_Related_

Partnership Units and Related Matters

3 Months Ended

Mar. 31, 2014

Partnership Units and Related Matters [Abstract]

'

Partnership Units and Related Matters

'

Note 10 — Partnership Units and Related Matters

Public Offerings of Common Units

In the first quarter of 2014, the Partnership issued 2,222,271 common units under an equity distribution agreement entered into in August 2013 (the “August 2013 EDA”), receiving net proceeds of $115.3 million, of which $5.9 million was received in April. We contributed $2.4 million to the Partnership to maintain our 2% general partner interest, of which $1.2 million was received in April.

Subsequent Event

In April 2014, the Partnership issued 802,630 common units under the August 2013 EDA, receiving net proceeds of $47.7 million. We contributed $1.0 million to the Partnership to maintain our 2% general partner interest. As of April 18, 2014, approximately $7.4 million of the aggregate offering amount remained available for sale pursuant to the August 2013 EDA.

Distributions

In accordance with the Partnership Agreement, the Partnership must distribute all of its available cash, as determined by the general partner, to unitholders of record within 45 days after the end of each quarter. The following table details the distributions declared and/or paid by the Partnership for the three months ended March 31, 2014.

Distributions

Three Months Ended

Date Paid or to be Paid

Limited Partners

General Partner

Distributions to Targa Resources Corp.

Distributions per limited partner unit

Common

Incentive

2%

Total

(In millions, except per unit amounts)

March 31, 2014

May 15, 2014

$

87.2

$

31.7

$

2.4

$

121.3

$

44

$

0.7625

December 31, 2013

February 14, 2014

84

29.5

2.3

115.8

41.5

0.7475

Common_Stock_and_Related_Matte

Common Stock and Related Matters	3 Months Ended
	Mar. 31, 2014
Common Stock and Related Matters [Abstract]	'
Common Stock and Related Matters	'
	Note 11 — Common Stock and Related Matters
	The following table details the dividends declared and/or paid by us for the three months ended March 31, 2014:
	Three Months Ended	Date Paid or To Be Paid	Total Dividend Declared		Amount of Dividend Paid		Accrued Dividends (1)		Dividend Declared per Share of Common Stock
	(In millions, except per share amounts)
	March 31, 2014	May 16, 2014	$	27.4	$	27.2	$	0.2	$	0.6475
	December 31, 2013	February 18, 2014		25.6		25.5		0.1		0.6075
	________
	-1	Represents accrued dividends on restricted stock and restricted stock units that are payable upon vesting.

Earnings_per_Common_Share

Earnings per Common Share	3 Months Ended
	Mar. 31, 2014
Earnings per Common Share [Abstract]	'
Earnings per Common Share	'
	Note 12 — Earnings per Common Share
	The following table sets forth a reconciliation of net income and weighted average shares outstanding used in computing basic and diluted net income per common share:
		Three Months Ended March 31,
		2014		2013
	Net income	$	106.9	$	33.8
	Less: Net income attributable to noncontrolling interests		87.3		20.4
	Net income attributable to common shareholders	$	19.6	$	13.4
	Weighted average shares outstanding - basic		42		41.6
	Net income available per common share - basic	$	0.47	$	0.32
	Weighted average shares outstanding		42		41.6
	Dilutive effect of unvested stock awards		0.1		0.4
	Weighted average shares outstanding - diluted		42.1		42
	Net income available per common share - diluted	$	0.47	$	0.32

Derivative_Instruments_and_Hed

Derivative Instruments and Hedging Activities	3 Months Ended
	Mar. 31, 2014
Derivative Instruments and Hedging Activities [Abstract]	'
Derivative Instruments and Hedging Activities	'
	Note 13 — Derivative Instruments and Hedging Activities
	Partnership Commodity Hedges
	The primary purpose of the Partnership’s commodity risk management activities is to manage its exposure to commodity price risk and reduce volatility in its operating cash flow due to fluctuations in commodity prices. The Partnership has hedged the commodity prices associated with a portion of its expected (i) natural gas equity volumes in Field Gathering and Processing segment and (ii) NGL and condensate equity volumes predominately in the Field Gathering and Processing segment and the LOU business unit in the Coastal Gathering and Processing segment that result from its percent-of-proceeds processing arrangements. These hedge positions will move favorably in periods of falling commodity prices and unfavorably in periods of rising commodity prices. The Partnership has designated these derivative contracts as cash flow hedges for accounting purposes.
	The hedges generally match the NGL product composition and the NGL and natural gas delivery points to those of the Partnership’s physical equity volumes. The NGL hedges may be transacted as specific NGL hedges or as baskets of ethane, propane, normal butane, isobutane and natural gasoline based upon the Partnership’s 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. The Partnership’s natural gas and NGL hedges are settled using published index prices for delivery at various locations, which closely approximate the Partnership’s actual natural gas and NGL delivery points.
	The Partnership hedges a portion of its condensate equity volumes using crude oil hedges that are based on the New York Mercantile Exchange (“NYMEX”) futures contracts for West Texas Intermediate light, sweet crude, which approximates the prices received for condensate. This necessarily exposes the Partnership to a market differential risk if the NYMEX futures do not move in exact parity with the sales price of its underlying condensate equity volumes.
	At March 31, 2014, the notional volumes of the Partnership’s commodity hedges for equity volumes were:
	Commodity	Instrument	Unit		2014				2015				2016
	Natural Gas	Swaps	MMBtu/d			54,050				40,551				25,500
	NGL	Swaps	Bbl/d			1,125				-				-
	Condensate	Swaps	Bbl/d			2,450				-				-
	The Partnership also enters into derivative instruments to help manage other short-term commodity-related business risks. The Partnership has not designated these derivatives as hedges, and records changes in fair value and cash settlements to revenues.
	The Partnership’s derivative contracts are subject to netting arrangements that allow net cash settlement of offsetting asset and liability positions with the same counterparty. 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 values of our derivative instruments and their location in 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 March 31,2014								Fair Value as of December 31,2013
			Balance Sheet		Derivative				Derivative				Derivative				Derivative
			Location		Assets				Liabilities				Assets				Liabilities
	Derivatives designated as hedging instruments
	Commodity contracts		Current		$	1.6			$	(12.8	)		$	2			$	(7.7	)
			Long-term			2.9				(1.2	)			3.1				(1.4	)
	Total derivatives designated as hedging instruments				$	4.5			$	(14.0	)		$	5.1			$	(9.1	)
	Derivatives not designated as hedging instruments
	Commodity contracts		Current		$	-			$	(0.1	)		$	-			$	(0.3	)
	Total derivatives not designated as hedging instruments				$	-			$	(0.1	)		$	-			$	(0.3	)
	Total current position				$	1.6			$	(12.9	)		$	2			$	(8.0	)
	Total long-term position					2.9				(1.2	)			3.1				(1.4	)
	Total derivatives				$	4.5			$	(14.1	)		$	5.1			$	(9.4	)
	The pro forma impact of reporting derivatives in the Consolidated Balance Sheets is as follows:
			Gross Presentation								Pro forma Net Presentation
			Asset				Liability				Asset				Liability
	March 31, 2014		Position				Position				Position				Position
	Current position
	Counterparties with offsetting position		$	1.6			$	(3.4	)		$	-			$	(1.8	)
	Counterparties without offsetting position - assets			-				-				-				-
	Counterparties without offsetting position - liabilities			-				(9.5	)			-				(9.5	)
				1.6				(12.9	)			-				(11.3	)
	Long-term position
	Counterparties with offsetting position			1				(0.3	)			0.7				-
	Counterparties without offsetting position - assets			1.9				-				1.9				-
	Counterparties without offsetting position - liabilities			-				(0.9	)			-				(0.9	)
				2.9				(1.2	)			2.6				(0.9	)
	Total derivatives
	Counterparties with offsetting position			2.6				(3.7	)			0.7				(1.8	)
	Counterparties without offsetting position - assets			1.9				-				1.9				-
	Counterparties without offsetting position - liabilities			-				(10.4	)			-				(10.4	)
			$	4.5			$	(14.1	)		$	2.6			$	(12.2	)
	December 31, 2013
	Current position
	Counterparties with offsetting position		$	1.9			$	(4.4	)		$	-			$	(2.5	)
	Counterparties without offsetting position - assets			0.1				-				0.1				-
	Counterparties without offsetting position - liabilities			-				(3.6	)			-				(3.6	)
				2				(8.0	)			0.1				(6.1	)
	Long-term position
	Counterparties with offsetting position			0.7				(1.2	)			-				(0.5	)
	Counterparties without offsetting position - assets			2.4				-				2.4				-
	Counterparties without offsetting position - liabilities			-				(0.2	)			-				(0.2	)
				3.1				(1.4	)			2.4				(0.7	)
	Total derivatives
	Counterparties with offsetting position			2.6				(5.6	)			-				(3.0	)
	Counterparties without offsetting position - assets			2.5				-				2.5				-
	Counterparties without offsetting position - liabilities			-				(3.8	)			-				(3.8	)
			$	5.1			$	(9.4	)		$	2.5			$	(6.8	)
	The fair value of the Partnership’s 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 the Partnership’s derivative instruments was a net liability of $9.6 million as of March 31, 2014. The estimated fair value is net of an adjustment for credit risk based on the default probabilities by year as indicated by market quotes for the counterparties’ credit default swap rates. The credit risk adjustment was immaterial for all periods presented.
	The Partnership’s payment obligations in connection with substantially all of these hedging transactions are secured by a first priority lien in the collateral securing its senior secured indebtedness that ranks equal in right of payment with liens granted in favor of its senior secured lenders.
The following tables reflect amounts recorded in OCI and amounts reclassified from OCI to revenue and expense for the periods indicated:
		Gain (Loss) Recognized in OCI on Derivatives (Effective Portion)
Derivatives in Cash Flow		Three Months Ended March 31,
Hedging Relationships		2014				2013
Commodity contracts			$	(11.9	)		$	(7.6	)
		Gain (Loss) Reclassified from OCI into Income (Effective Portion)
		Three Months Ended March 31,
Location of Gain (Loss)		2014				2013
Interest expense, net			$	(1.3	)		$	(1.7	)
Revenues				(6.3	)			6.6
			$	(7.6	)		$	4.9
Hedge ineffectiveness was immaterial for all periods presented.
Our consolidated earnings are also affected by the Partnership’s 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 (i.e., using the “mark-to-market” method) 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. Gain (loss) recognized on commodity derivatives not designated as hedging instruments was immaterial for all periods presented.
The following table shows the deferred gains (losses) included in accumulated OCI that will be reclassified into earnings through the end of 2016:
		31-Mar-14				31-Dec-13
Commodity hedges, before tax		$	(1.2	)		$	(0.5	)
Commodity hedges, after tax			(0.8	)			(0.3	)
Interest rate hedges, before tax			(0.1	)			(0.3	)
Interest rate hedges, after tax			(0.1	)			(0.2	)
As of March 31, 2014, net losses of $11.0 million on commodity hedges and net losses of $1.1 million on terminated interest rate swaps recorded in OCI are expected to be reclassified to revenue and interest expense during the next twelve months.
See Note 14 for additional disclosures related to derivative instruments and hedging activities.

Fair_Value_Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2014
Fair Value Measurements [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 are reported at fair value in our Consolidated Balance Sheets. Other financial instruments are reported at historical cost or amortized cost in our Consolidated Balance Sheets, with fair value measurements for these instruments provided as supplemental information.
	The following are additional qualitative and quantitative disclosures regarding fair value measurements of financial instruments.
	Fair Value of Derivative Financial Instruments
	The Partnership’s derivative instruments consist of financially settled commodity swaps and option contracts and fixed-price commodity contracts with certain counterparties. The Partnership determines the fair value of its derivative contracts using a discounted cash flow model for swaps and a standard option pricing-model for options, based on inputs that are readily available in public markets. The Partnership has consistently applied these valuation techniques in all periods presented and we believe the Partnership has obtained the most accurate information available for the types of derivative contracts the Partnership holds.
	The fair values of the Partnership’s derivative instruments are sensitive to changes in forward pricing on natural gas, NGLs and crude oil. This financial position reflects the present value, adjusted for counterparty credit risk, of the amount the Partnership expects to receive or pay in the future on its 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 $33.1 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 $13.8 million, ignoring an adjustment for counterparty credit risk.
	Fair Value of Other Financial Instruments
	The contingent consideration obligation related to the Partnership’s Badlands acquisition is reported at fair value. 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. As such, long-term debt is primarily the other financial instrument for which our carrying value could vary significantly from fair value. We determined the supplemental fair value disclosures for our long-term debt as follows:
	•	Senior secured revolving credit facilities and the Partnership’s 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.
	Fair Value Hierarchy
	We categorize the inputs to the fair value measurements of financial assets and liabilities 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 in our Consolidated Balance Sheets at fair value and (2) supplemental fair value disclosures for other financial instruments:
			March 31,2014
			Carrying Value			Fair 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)		$	3.9		$	3.9	$	-	$	2.6	$	1.3
	Liabilities from commodity derivative contracts (1)			13.5			13.5		-		12		1.5
	Badlands contingent consideration liability			-			-		-		-		-
	Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value:
	Cash and cash equivalents			94.9			94.9		-		-		-
	TRC Senior secured revolving credit facility			72			72		-		72		-
	Partnership's Senior secured revolving credit facility			355			355		-		355		-
	Partnership's Senior unsecured notes			2,231.20			2,284.00		-		2,284.00		-
	Partnership's accounts receivable securitization facility			233.5			233.5		-		233.5		-
	___________
	-1	The fair value of the derivative contracts in this table is presented on a different basis than the balance sheet presentation as disclosed in Note 13. The above fair values reflect the total value of each derivative contract taken as a whole, whereas the balance sheet 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 balance sheet classification purposes.
	Additional Information Regarding Level 3 Fair Value Measurements Included in Our Consolidated Balance Sheets
	As of March 31, 2014, we reported certain of the Partnership’s natural gas basis swaps at fair value using Level 3 inputs due to such derivatives not having observable market prices 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 natural gas basis 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 March 31, 2014, the Partnership had fourteen natural gas basis swaps categorized as Level 3. The significant unobservable inputs used in the fair value measurements of the Partnership’s Level 3 derivatives are the forward natural gas basis curves, for which a significant portion of the derivative’s term is beyond available forward pricing. 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 following table summarizes the changes in fair value of our financial instruments classified as Level 3 in the fair value hierarchy:
			Commodity Derivative Contracts Asset/ (Liability)
	Balance, December 31, 2013		$	0.7
	Settlements included in Revenue			(0.9	)
	Balance, March 31, 2014		$	(0.2	)
	There has been no material transfer of assets or liabilities among the three levels of the fair value hierarchy during the three months ended March 31, 2014.

Related_Party_Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2014
Related Party Transactions [Abstract]	'
Related Party Transactions	'
	Note 15 — Related Party Transactions
	Relationship with Targa Resources Partners LP
	The Partnership does not have any employees. We provide operational, general and administrative and other services to the Partnership, associated with the Partnership’s existing assets and assets acquired from third parties. We perform centralized corporate functions for the Partnership, such as legal, accounting, treasury, insurance, risk management, health, safety and environmental, information technology, human resources, credit, payroll, internal audit, taxes, engineering and marketing.
	The Partnership Agreement between the Partnership and us, as general partner of the Partnership, governs the reimbursement of costs incurred on the behalf of the Partnership. We charge the Partnership for all the direct costs of the employees assigned to its operations, as well as all general and administrative support costs other than (1) costs attributable to our status as a separate reporting company and (2) our costs of providing management and support services to certain unaffiliated spun-off entities. The Partnership generally reimburses us monthly for cost allocations to the extent that we have made a cash outlay.

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2014
Commitments and Contingencies [Abstract]	'
Commitments and Contingencies	'
	Note 16 — Commitments and Contingencies
	Legal Proceedings
	We are a party to various legal proceedings and/or regulatory proceedings and certain claims, suits and complaints arising in the ordinary course of business that have been filed or are pending against us. We believe all such matters are without merit or involve amounts which, if resolved unfavorably, would not have a material effect on our financial position, results of operations, or cash flows.

Supplemental_Cash_Flow_Informa

Supplemental Cash Flow Information	3 Months Ended
	Mar. 31, 2014
Supplemental Cash Flow Information [Abstract]	'
Supplemental Cash Flow Information	'
	Note 17 - Supplemental Cash Flow Information
			Three Months Ended March 31,
			2014		2013
	Cash:
	Interest paid, net of capitalized interest (1)		$	23.7	$	32.1
	Income taxes paid, net of refunds			0.1		0.3
	Non-cash:
	Deadstock inventory transferred to property, plant and equipment			1.1		4.5
	Accrued dividends on unvested equity awards			0.2		0.4
	Change in receivables from unit offerings			5.9		-
	Change in capital accruals			22.7		14.9
	Transfers from materials and supplies inventory to property, plant and equipment			0.4		-
	Change in ARO cash flow estimate			2.1		0.2
	___________
	-1	Interest capitalized on major projects was $6.9 million and $6.1 million for the three months ended March 31, 2014 and 2013.

Segment_Information

Segment Information	3 Months Ended
	Mar. 31, 2014
Segment Information [Abstract]	'
Segment Information	'
	Note 18 — Segment Information
	The Partnership reports its operations in two divisions: (i) Gathering and Processing, consisting of two reportable segments – (a) Field Gathering and Processing and (b) Coastal Gathering and Processing; and (ii) Logistics and Marketing consisting of two reportable segments – (a) Logistics Assets and (b) Marketing and Distribution. The financial results of its hedging activities are reported in Other.
	The Partnership’s Gathering and Processing division 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 Field Gathering and Processing segment's assets are located in North Texas, the Permian Basin of West Texas, New Mexico and in North Dakota. The Coastal Gathering and Processing segment's assets are located in the onshore and near offshore regions of the Louisiana Gulf Coast and the Gulf of Mexico.
	The Partnership’s Logistics and Marketing division is also referred to as its Downstream Business. The Partnership’s Downstream Business includes all the activities necessary to convert mixed NGLs into NGL products and provides certain value added services such as storing, terminaling, distributing and marketing of NGLs, refined petroleum products and crude oil. It also includes certain natural gas supply and marketing activities in support of the Partnership’s other operations, including services to LPG exporters, as well as transporting natural gas and NGLs.
	The Partnership’s Logistics Assets segment is involved in transporting, storing, and fractionating mixed NGLs; storing, terminaling, and transporting finished NGLs, including services for exported LPGs; and storing and terminaling refined petroleum products. These assets are generally connected to and supplied in part by the Partnership’s Gathering and Processing segments and are predominantly located in Mont Belvieu, and Galena Park, Texas and Lake Charles, Louisiana.
	The Partnership’s Marketing and Distribution segment covers activities required to distribute and market raw and finished NGLs and all natural gas marketing activities. It includes (1) marketing the Partnership’s own NGL production and purchasing NGL products for resale in selected United States markets; (2) providing LPG balancing services to refinery customers; (3) transporting, storing and selling propane and providing related propane logistics services to multi-state retailers, independent retailers and other end-users; providing propane, butane and services to LPG exporters; and (4) marketing natural gas available to the Partnership from its Gathering and Processing division and the purchase and resale and other value added activities related to third-party natural gas in selected United States markets.
	Other contains the results of the Partnership’s commodity hedging activities included in operating margin. Eliminations of inter-segment transactions are reflected in the corporate and eliminations column.
	Segment information is shown in the following tables. We have segregated the following segment information between Partnership and non-Partnership activities. Partnership activities have been presented on a common control accounting basis, which reflects the drop-down transactions between us and the Partnership as if they occurred in prior periods similar to a pooling of interests.
		Three Months Ended March 31,2014
		Partnership
		Field Gathering and Processing			Coastal Gathering and Processing			Logistics Assets		Marketing and Distribution		Other			Corporate and Eliminations			TRC Non-Partnership		Consolidated
	Revenues
	Sales of commodities	$	45.8		$	100.5		$	21	$	1,983.70	$	(6.1	)	$	(0.1	)	$	-	$	2,144.80
	Fees from midstream services		40.8			7.7			68.1		91.3		-			0.2			-		208.1
			86.6			108.2			89.1		2,075.00		(6.1	)		0.1			-		2,352.90
	Intersegment revenues
	Sales of commodities		400.4			177			0.6		130.4		-			(708.4	)		-		-
	Fees from midstream services		1.1			-			66.2		7.9		-			(75.2	)		-		-
			401.5			177			66.8		138.3		-			(783.6	)		-		-
	Revenues	$	488.1		$	285.2		$	155.9	$	2,213.30	$	(6.1	)	$	(783.5	)	$	-	$	2,352.90
	Operating margin	$	94.1		$	26.1		$	96.6	$	64.6	$	(6.1	)	$	-		$	-	$	275.3
	Other financial information:
	Total assets	$	3,275.10		$	385.1		$	1,568.70	$	614.1	$	4.5		$	128.8		$	78.9	$	6,055.20
	Capital expenditures	$	98.9		$	4.3		$	68.6	$	3.1	$	-		$	0.5		$	-	$	175.4
		Three Months Ended March 31,2013
		Partnership
		Field Gathering and Processing			Coastal Gathering and Processing			Logistics Assets		Marketing and Distribution		Other			Corporate and Eliminations			TRC Non-Partnership		Consolidated
	Revenues
	Sales of commodities	$	38.1		$	69.6		$	32.9	$	1,136.50	$	6.6		$	-		$	-	$	1,283.70
	Fees from midstream services		20.2			8.8			47.1		38		-			-			-		114.1
			58.3			78.4			80		1,174.50		6.6			-			-		1,397.80
	Intersegment revenues
	Sales of commodities		273			151.9			0.9		110.5		-			(536.3	)		-		-
	Fees from midstream services		0.9			-			36.6		6.4		-			(43.9	)		-		-
			273.9			151.9			37.5		116.9		-			(580.2	)		-		-
	Revenues	$	332.2		$	230.3		$	117.5	$	1,291.40	$	6.6		$	(580.2	)	$	-	$	1,397.80
	Operating margin	$	53.8		$	23.5		$	56.3	$	34	$	6.6		$	-		$	-	$	174.2
	Other financial information:
	Total assets	$	2,854.70		$	416.3		$	1,210.70	$	436.9	$	21.4		$	134.2		$	74.3	$	5,148.50
	Capital expenditures	$	96.1		$	6.5		$	103.7	$	-	$	-		$	0.6		$	-	$	206.9
	The following table shows our consolidated revenues by product and service for the periods presented:
		Three Months Ended March 31,
		2014			2013
	Sales of commodities:
	Natural gas	$	392.6		$	255.3
	NGL		1,710.60			963.5
	Condensate		28.4			27.1
	Petroleum products		20.1			31.3
	Derivative activities		(6.9	)		6.5
			2,144.80			1,283.70
	Fees from midstream services:
	Fractionating and treating		46.5			27.2
	Storage, terminaling, transportation and export		99.6			60.2
	Gathering and processing		42.6			18.5
	Other		19.4			8.2
			208.1			114.1
	Total revenues	$	2,352.90		$	1,397.80
	The following table shows a reconciliation of operating margin to net income for the periods presented:
		Three Months Ended March 31,
		2014			2013
	Reconciliation of operating margin to net income:
	Operating margin	$	275.3		$	174.2
	Depreciation and amortization expense		(79.6	)		(64.0	)
General and administrative expense		(38.0	)		(36.3	)
Interest expense, net		(33.9	)		(32.1	)
Other, net		5.6			1.4
Income tax expense		(22.5	)		(9.4	)
Net income	$	106.9		$	33.8

Basis_of_Presentation_Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2014
Basis of Presentation [Abstract]	'
Reclassification Affecting Statement of Cash Flows	'
	Reclassifications Affecting Statement of Cash Flows
	In conjunction with the ongoing integration of Badlands into its financial reporting environment during 2013, the Partnership obtained further information about acquisition date balance sheet, including the nature of the items comprising assumed Accounts payable and accrued liabilities.  The Partnership determined that certain assumed liabilities related to purchases that, under its accounting policies, the Partnership considered capital in nature. Consequently, the Partnership made certain refinements to better reflect Badlands cash flow activity on a basis similar to that used its other operations. As a result of these refinements, certain Badlands cash flow activity was presented in its 2013 Form 10-K on a basis different than that utilized for previous quarterly reporting during 2013. In preparing this quarterly report the Partnership has made certain measurement period reclassifications to the comparative Statement of Cash Flows for the three months ended March 31, 2013 to conform to the presentation of its Form 10-K, reclassifying $18.9 million related to capital expenditures previously included in Accounts payable and other liabilities of operating activities to Outlays for property, plant and equipment in investing activities, as shown below.
		Three Months Ended March 31, 2013
	Revised line items Consolidated Statement of Cash Flows	As Reported			Reclassification			Revised
	Cash Flows from operating activities
	Changes in operating assets and liabilities:
	Accounts payable and other liabilities	$	(59.9	)	$	18.9		$	(41.0	)
	Net cash provided by operating activities		174			18.9			192.9
	Cash flows from investing activities:
	Changes in investing assets and liabilities:
	Outlays for property, plant and equipment		(202.9	)		(18.9	)		(221.8	)
	Net cash used in investing activities		(207.5	)		(18.9	)		(226.4	)

Significant_Accounting_Policie1

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2014
Significant Accounting Policies [Abstract]	'
Accounting Policy Updates/Revisions	'
	Accounting Policy Updates/Revisions
	The accounting policies that we follow are set forth in Note 3 of the Notes to Consolidated Financial Statements in our Annual Report on Form 10-K for the year ended December 31, 2013. There were no significant updates or revisions to these policies during the three months ended March 31, 2014.
Recent Accounting Pronouncements	'
	Recent Accounting Pronouncements
	In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. The amendment, required to be applied prospectively for reporting periods beginning after December 15, 2014, limits discontinued operations reporting to disposals of components of an entity that represent strategic shifts that have, or will have, a major effect on operations and financial results.  The amendment requires expanded disclosures for discontinued operations and also requires additional disclosures regarding disposals of individually significant components that do not qualify as discontinued operations. Early adoption is permitted, but only for disposals (or classifications as held for sale) that have not been reported in financial statements previously issued or available for issuance. This amendment has no impact on our current disclosures, but will in the future if we dispose of any individually significant components.

Basis_of_Presentation_Tables

Basis of Presentation (Tables)	3 Months Ended
	Mar. 31, 2014
Basis of Presentation [Abstract]	'
Certain Measurement Period Reclassifications Made to Comparative Statement of Cash Flows	'
	In preparing this quarterly report the Partnership has made certain measurement period reclassifications to the comparative Statement of Cash Flows for the three months ended March 31, 2013 to conform to the presentation of its Form 10-K, reclassifying $18.9 million related to capital expenditures previously included in Accounts payable and other liabilities of operating activities to Outlays for property, plant and equipment in investing activities, as shown below.
		Three Months Ended March 31, 2013
	Revised line items Consolidated Statement of Cash Flows	As Reported			Reclassification			Revised
	Cash Flows from operating activities
	Changes in operating assets and liabilities:
	Accounts payable and other liabilities	$	(59.9	)	$	18.9		$	(41.0	)
	Net cash provided by operating activities		174			18.9			192.9
	Cash flows from investing activities:
	Changes in investing assets and liabilities:
	Outlays for property, plant and equipment		(202.9	)		(18.9	)		(221.8	)
	Net cash used in investing activities		(207.5	)		(18.9	)		(226.4	)

Inventories_Tables

Inventories (Tables)	3 Months Ended
	Mar. 31, 2014
Inventories [Abstract]	'
Components of inventory	'
	The components of inventories consisted of the following:
		31-Mar-14		31-Dec-13
	Commodities	$	74.7	$	136.4
	Materials and supplies		13.8		14.3
		$	88.5	$	150.7

Property_Plant_and_Equipment_a1

Property, Plant and Equipment and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2014
Property, Plant and Equipment and Intangible Assets [Abstract]	'
Property, Plant and Equipment and Intangible Assets	'
		31-Mar-14									31-Dec-13
		Targa Resources Partners LP			TRC Non-Partnership			Targa Resources Corp. Consolidated			Targa Resources Partners LP			TRC Non-Partnership			Targa Resources Corp. Consolidated			Estimated Useful Lives (In Years)
	Gathering systems	$	2,293.60		$	-		$	2,293.60		$	2,230.10		$	-		$	2,230.10		5 to 20
	Processing and fractionation facilities		1,600.70			6.6			1,607.30			1,598.00			6.6			1,604.60		5 to 25
	Terminaling and storage facilities		735.4			-			735.4			715.2			-			715.2		5 to 25
	Transportation assets		334.7			-			334.7			294.7			-			294.7		10 to 25
	Other property, plant and equipment		124.8			0.2			125			121.3			0.2			121.5		3 to 25
	Land		89.7			-			89.7			89.5			-			89.5			-
	Construction in progress		751.2			-			751.2			702.8			-			702.8			-
	Property, plant and equipment		5,930.10			6.8			5,936.90			5,751.60			6.8			5,758.40
	Accumulated depreciation		(1,470.3	)		(2.3	)		(1,472.6	)		(1,406.2	)		(2.3	)		(1,408.5	)
	Property, plant and equipment, net	$	4,459.80		$	4.5		$	4,464.30		$	4,345.40		$	4.5		$	4,349.90
	Intangible assets	$	681.8		$	-		$	681.8		$	681.8		$	-		$	681.8			20
	Accumulated amortization		(43.7	)		-			(43.7	)		(28.4	)		-			(28.4	)
	Intangible assets, net	$	638.1		$	-		$	638.1		$	653.4		$	-		$	653.4

Asset_Retirement_Obligations_T

Asset Retirement Obligations (Tables)	3 Months Ended
	Mar. 31, 2014
Asset Retirement Obligations [Abstract]	'
Changes in Aggregate Asset Retirement Obligations	'
	Our asset retirement obligations primarily relate to certain gas gathering pipelines and processing facilities, and are included in our consolidated balance sheets as a component of other long-term liabilities. The changes in our aggregate asset retirement obligations are as follows:
		Three Months Ended
		31-Mar-14
	Beginning of period	$	50.9
	Change in cash flow estimate		2.1
	Accretion expense		1.2
	End of period	$	54.2

Investment_in_Unconsolidated_A1

Investment in Unconsolidated Affiliate (Tables)	3 Months Ended
	Mar. 31, 2014
Investment in Unconsolidated Affiliate [Abstract]	'
Activity Related to Investment in Unconsolidated Affiliate	'
	The following table shows the activity related to the Partnership’s investment in GCF:
			Three Months Ended
			31-Mar-14
	Beginning of period		$	55.9
	Equity earnings			4.9
	Cash distributions (1)			(7.1	)
	End of period		$	53.7
	_______
	-1	Includes distribution in excess of cumulative earnings of $2.2 million that are considered a return of capital and disclosed in cash flows from investing activities in the Consolidated Statements of Cash Flows

Accounts_Payable_and_Accrued_L1

Accounts Payable and Accrued Liabilities (Tables)	3 Months Ended
	Mar. 31, 2014
Accounts Payable and Accrued Liabilities [Abstract]	'
Schedule of Accounts Payable and Accrued Liabilities	'
	The components of accounts payable and accrued liabilities consisted of the following:
		31-Mar-14		31-Dec-13
	Commodities	$	528.1	$	520.8
	Other goods and services		109.7		146.8
	Interest		42.4		35.9
	Compensation and benefits		23.5		40.3
	Income and other taxes		32.8		10.2
	Other		9		7.8
		$	745.5	$	761.8

Debt_Obligations_Tables

Debt Obligations (Tables)	3 Months Ended
	Mar. 31, 2014
Debt Obligations [Abstract]	'
Schedule of Outstanding Debt	'
			31-Mar-14			31-Dec-13
	Long-term debt:
	Non-Partnership obligations:
	TRC Senior secured revolving credit facility, variable rate, due October 2017 (1)		$	72		$	84
	Obligations of the Partnership: (2)
	Senior secured revolving credit facility, variable rate, due October 2017 (3)			355			395
	Senior unsecured notes, 7⅞% fixed rate, due October 2018			250			250
	Senior unsecured notes, 6⅞% fixed rate, due February 2021			483.6			483.6
	Unamortized discount			(27.4	)		(28.0	)
	Senior unsecured notes, 6⅜% fixed rate, due August 2022			300			300
	Senior unsecured notes, 5¼% fixed rate, due May 2023			600			600
	Senior unsecured notes, 4¼% fixed rate, due November 2023			625			625
	Accounts receivable securitization facility, due December 2014 (4)			233.5			279.7
	Total long-term debt		$	2,891.70		$	2,989.30
	Irrevocable standby letters of credit:
	Letters of credit outstanding under TRC Senior secured credit facility (1)		$	-		$	-
	Letters of credit outstanding under the Partnership senior secured revolving credit facility (3)			97.2			86.8
			$	97.2		$	86.8
	___________
	-1	As of March 31, 2014, availability under TRC’s $150 million senior secured revolving credit facility was $78.0 million.
	-2	While we consolidate the debt of the Partnership in our financial statements, we do not have the obligation to make interest payments or debt payments with respect to the debt of the Partnership.
	-3	As of March 31, 2014, availability under the Partnership’s $1.2 billion senior secured revolving credit facility was $747.8 million.
	-4	All amounts outstanding under the Partnership’s Securitization Facility are reflected as long-term debt in our balance sheet because the Partnership has the ability and intent to fund the Securitization Facility’s borrowings on a long-term basis.
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 and the Partnership’s variable-rate debt obligations during the three months ended March 31, 2014:
			Range of Interest Rates Incurred			Weighted Average Interest Rate Incurred
	TRC senior secured revolving credit facility			2.90%			2.90%
	Partnership's senior secured revolving credit facility			2.2% - 4.5%			2.30%
	Partnership's accounts receivable securitization facility			0.90%			0.90%

Partnership_Units_and_Related_1

Partnership Units and Related Matters (Tables)	3 Months Ended
	Mar. 31, 2014
Partnership Units and Related Matters [Abstract]	'
Schedule of Distributions	'
	The following table details the distributions declared and/or paid by the Partnership for the three months ended March 31, 2014.
			Distributions
	Three Months Ended	Date Paid or to be Paid	Limited Partners		General Partner						Distributions to Targa Resources Corp.		Distributions per limited partner unit
			Common		Incentive			2%	Total
	(In millions, except per unit amounts)
	March 31, 2014	May 15, 2014	$	87.2	$	31.7	$	2.4	$	121.3	$	44	$	0.7625
	December 31, 2013	February 14, 2014		84		29.5		2.3		115.8		41.5		0.7475

Common_Stock_and_Related_Matte1

Common Stock and Related Matters (Tables)	3 Months Ended
	Mar. 31, 2014
Common Stock and Related Matters [Abstract]	'
Distributions Declared and/or Paid by Partnership	'
	The following table details the dividends declared and/or paid by us for the three months ended March 31, 2014:
	Three Months Ended	Date Paid or To Be Paid	Total Dividend Declared		Amount of Dividend Paid		Accrued Dividends (1)		Dividend Declared per Share of Common Stock
	(In millions, except per share amounts)
	March 31, 2014	May 16, 2014	$	27.4	$	27.2	$	0.2	$	0.6475
	December 31, 2013	February 18, 2014		25.6		25.5		0.1		0.6075
	________
	-1	Represents accrued dividends on restricted stock and restricted stock units that are payable upon vesting.

Earnings_per_Common_Share_Tabl

Earnings per Common Share (Tables)	3 Months Ended
	Mar. 31, 2014
Earnings per Common Share [Abstract]	'
Earnings per Common Share	'
	The following table sets forth a reconciliation of net income and weighted average shares outstanding used in computing basic and diluted net income per common share:
		Three Months Ended March 31,
		2014		2013
	Net income	$	106.9	$	33.8
	Less: Net income attributable to noncontrolling interests		87.3		20.4
	Net income attributable to common shareholders	$	19.6	$	13.4
	Weighted average shares outstanding - basic		42		41.6
	Net income available per common share - basic	$	0.47	$	0.32
	Weighted average shares outstanding		42		41.6
	Dilutive effect of unvested stock awards		0.1		0.4
	Weighted average shares outstanding - diluted		42.1		42
	Net income available per common share - diluted	$	0.47	$	0.32

Derivative_Instruments_and_Hed1

Derivative Instruments and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2014
Derivative Instruments and Hedging Activities [Abstract]	'
Notional Volume of Commodity Hedges	'
	At March 31, 2014, the notional volumes of the Partnership’s commodity hedges for equity volumes were:
	Commodity	Instrument	Unit		2014				2015				2016
	Natural Gas	Swaps	MMBtu/d			54,050				40,551				25,500
	NGL	Swaps	Bbl/d			1,125				-				-
	Condensate	Swaps	Bbl/d			2,450				-				-
Fair Values of Derivative Instruments	'
	The following schedules reflect the fair values of our derivative instruments and their location in 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 March 31,2014								Fair Value as of December 31,2013
			Balance Sheet		Derivative				Derivative				Derivative				Derivative
			Location		Assets				Liabilities				Assets				Liabilities
	Derivatives designated as hedging instruments
	Commodity contracts		Current		$	1.6			$	(12.8	)		$	2			$	(7.7	)
			Long-term			2.9				(1.2	)			3.1				(1.4	)
	Total derivatives designated as hedging instruments				$	4.5			$	(14.0	)		$	5.1			$	(9.1	)
	Derivatives not designated as hedging instruments
	Commodity contracts		Current		$	-			$	(0.1	)		$	-			$	(0.3	)
	Total derivatives not designated as hedging instruments				$	-			$	(0.1	)		$	-			$	(0.3	)
	Total current position				$	1.6			$	(12.9	)		$	2			$	(8.0	)
	Total long-term position					2.9				(1.2	)			3.1				(1.4	)
	Total derivatives				$	4.5			$	(14.1	)		$	5.1			$	(9.4	)
Pro Forma Impact of Derivatives Net In Consolidated Balance Sheet	'
	The pro forma impact of reporting derivatives in the Consolidated Balance Sheets is as follows:
			Gross Presentation								Pro forma Net Presentation
			Asset				Liability				Asset				Liability
	March 31, 2014		Position				Position				Position				Position
	Current position
	Counterparties with offsetting position		$	1.6			$	(3.4	)		$	-			$	(1.8	)
	Counterparties without offsetting position - assets			-				-				-				-
	Counterparties without offsetting position - liabilities			-				(9.5	)			-				(9.5	)
				1.6				(12.9	)			-				(11.3	)
	Long-term position
	Counterparties with offsetting position			1				(0.3	)			0.7				-
	Counterparties without offsetting position - assets			1.9				-				1.9				-
	Counterparties without offsetting position - liabilities			-				(0.9	)			-				(0.9	)
				2.9				(1.2	)			2.6				(0.9	)
	Total derivatives
	Counterparties with offsetting position			2.6				(3.7	)			0.7				(1.8	)
	Counterparties without offsetting position - assets			1.9				-				1.9				-
	Counterparties without offsetting position - liabilities			-				(10.4	)			-				(10.4	)
			$	4.5			$	(14.1	)		$	2.6			$	(12.2	)
	December 31, 2013
	Current position
	Counterparties with offsetting position		$	1.9			$	(4.4	)		$	-			$	(2.5	)
	Counterparties without offsetting position - assets			0.1				-				0.1				-
	Counterparties without offsetting position - liabilities			-				(3.6	)			-				(3.6	)
				2				(8.0	)			0.1				(6.1	)
	Long-term position
	Counterparties with offsetting position			0.7				(1.2	)			-				(0.5	)
	Counterparties without offsetting position - assets			2.4				-				2.4				-
	Counterparties without offsetting position - liabilities			-				(0.2	)			-				(0.2	)
				3.1				(1.4	)			2.4				(0.7	)
	Total derivatives
	Counterparties with offsetting position			2.6				(5.6	)			-				(3.0	)
	Counterparties without offsetting position - assets			2.5				-				2.5				-
	Counterparties without offsetting position - liabilities			-				(3.8	)			-				(3.8	)
			$	5.1			$	(9.4	)		$	2.5			$	(6.8	)
Cash Flow Hedges Included In Accumulated Other Comprehensive Income (Loss)	'
	The following tables reflect amounts recorded in OCI and amounts reclassified from OCI to revenue and expense for the periods indicated:
			Gain (Loss) Recognized in OCI on Derivatives (Effective Portion)
	Derivatives in Cash Flow		Three Months Ended March 31,
	Hedging Relationships		2014				2013
	Commodity contracts			$	(11.9	)		$	(7.6	)
			Gain (Loss) Reclassified from OCI into Income (Effective Portion)
			Three Months Ended March 31,
	Location of Gain (Loss)		2014				2013
	Interest expense, net			$	(1.3	)		$	(1.7	)
	Revenues				(6.3	)			6.6
				$	(7.6	)		$	4.9
Schedule of Gain (Loss) On Financial Instruments	'
	The following table shows the deferred gains (losses) included in accumulated OCI that will be reclassified into earnings through the end of 2016:
			31-Mar-14				31-Dec-13
	Commodity hedges, before tax		$	(1.2	)		$	(0.5	)
	Commodity hedges, after tax			(0.8	)			(0.3	)
	Interest rate hedges, before tax			(0.1	)			(0.3	)
	Interest rate hedges, after tax			(0.1	)			(0.2	)

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2014
Fair Value Measurements [Abstract]	'
Schedule of Fair Value of Assets and Liabilities Measured on a Recurring Basis	'
	The following table shows a breakdown by fair value hierarchy category for (1) financial instruments measurements included in our Consolidated Balance Sheets at fair value and (2) supplemental fair value disclosures for other financial instruments:
			March 31,2014
			Carrying Value			Fair 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)		$	3.9		$	3.9	$	-	$	2.6	$	1.3
	Liabilities from commodity derivative contracts (1)			13.5			13.5		-		12		1.5
	Badlands contingent consideration liability			-			-		-		-		-
	Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value:
	Cash and cash equivalents			94.9			94.9		-		-		-
	TRC Senior secured revolving credit facility			72			72		-		72		-
	Partnership's Senior secured revolving credit facility			355			355		-		355		-
	Partnership's Senior unsecured notes			2,231.20			2,284.00		-		2,284.00		-
	Partnership's accounts receivable securitization facility			233.5			233.5		-		233.5		-
	___________
	-1	The fair value of the derivative contracts in this table is presented on a different basis than the balance sheet presentation as disclosed in Note 13. The above fair values reflect the total value of each derivative contract taken as a whole, whereas the balance sheet 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 balance sheet classification purposes.
Reconciliation of the 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 Asset/ (Liability)
	Balance, December 31, 2013		$	0.7
	Settlements included in Revenue			(0.9	)
	Balance, March 31, 2014		$	(0.2	)

Supplemental_Cash_Flow_Informa1

Supplemental Cash Flow Information (Tables)	3 Months Ended
	Mar. 31, 2014
Supplemental Cash Flow Information [Abstract]	'
Supplemental Cash Flow Information	'
			Three Months Ended March 31,
			2014		2013
	Cash:
	Interest paid, net of capitalized interest (1)		$	23.7	$	32.1
	Income taxes paid, net of refunds			0.1		0.3
	Non-cash:
	Deadstock inventory transferred to property, plant and equipment			1.1		4.5
	Accrued dividends on unvested equity awards			0.2		0.4
	Change in receivables from unit offerings			5.9		-
	Change in capital accruals			22.7		14.9
	Transfers from materials and supplies inventory to property, plant and equipment			0.4		-
	Change in ARO cash flow estimate			2.1		0.2
	___________
	-1	Interest capitalized on major projects was $6.9 million and $6.1 million for the three months ended March 31, 2014 and 2013.

Segment_Information_Tables

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2014
Segment Information [Abstract]	'
Information by Segment	'
	Segment information is shown in the following tables. We have segregated the following segment information between Partnership and non-Partnership activities. Partnership activities have been presented on a common control accounting basis, which reflects the drop-down transactions between us and the Partnership as if they occurred in prior periods similar to a pooling of interests.
		Three Months Ended March 31,2014
		Partnership
		Field Gathering and Processing			Coastal Gathering and Processing			Logistics Assets		Marketing and Distribution		Other			Corporate and Eliminations			TRC Non-Partnership		Consolidated
	Revenues
	Sales of commodities	$	45.8		$	100.5		$	21	$	1,983.70	$	(6.1	)	$	(0.1	)	$	-	$	2,144.80
	Fees from midstream services		40.8			7.7			68.1		91.3		-			0.2			-		208.1
			86.6			108.2			89.1		2,075.00		(6.1	)		0.1			-		2,352.90
	Intersegment revenues
	Sales of commodities		400.4			177			0.6		130.4		-			(708.4	)		-		-
	Fees from midstream services		1.1			-			66.2		7.9		-			(75.2	)		-		-
			401.5			177			66.8		138.3		-			(783.6	)		-		-
	Revenues	$	488.1		$	285.2		$	155.9	$	2,213.30	$	(6.1	)	$	(783.5	)	$	-	$	2,352.90
	Operating margin	$	94.1		$	26.1		$	96.6	$	64.6	$	(6.1	)	$	-		$	-	$	275.3
	Other financial information:
	Total assets	$	3,275.10		$	385.1		$	1,568.70	$	614.1	$	4.5		$	128.8		$	78.9	$	6,055.20
	Capital expenditures	$	98.9		$	4.3		$	68.6	$	3.1	$	-		$	0.5		$	-	$	175.4
		Three Months Ended March 31,2013
		Partnership
		Field Gathering and Processing			Coastal Gathering and Processing			Logistics Assets		Marketing and Distribution		Other			Corporate and Eliminations			TRC Non-Partnership		Consolidated
	Revenues
	Sales of commodities	$	38.1		$	69.6		$	32.9	$	1,136.50	$	6.6		$	-		$	-	$	1,283.70
	Fees from midstream services		20.2			8.8			47.1		38		-			-			-		114.1
			58.3			78.4			80		1,174.50		6.6			-			-		1,397.80
	Intersegment revenues
	Sales of commodities		273			151.9			0.9		110.5		-			(536.3	)		-		-
	Fees from midstream services		0.9			-			36.6		6.4		-			(43.9	)		-		-
			273.9			151.9			37.5		116.9		-			(580.2	)		-		-
	Revenues	$	332.2		$	230.3		$	117.5	$	1,291.40	$	6.6		$	(580.2	)	$	-	$	1,397.80
	Operating margin	$	53.8		$	23.5		$	56.3	$	34	$	6.6		$	-		$	-	$	174.2
	Other financial information:
	Total assets	$	2,854.70		$	416.3		$	1,210.70	$	436.9	$	21.4		$	134.2		$	74.3	$	5,148.50
	Capital expenditures	$	96.1		$	6.5		$	103.7	$	-	$	-		$	0.6		$	-	$	206.9
Revenues by Product and Service	'
	The following table shows our consolidated revenues by product and service for the periods presented:
		Three Months Ended March 31,
		2014			2013
	Sales of commodities:
	Natural gas	$	392.6		$	255.3
	NGL		1,710.60			963.5
	Condensate		28.4			27.1
	Petroleum products		20.1			31.3
	Derivative activities		(6.9	)		6.5
			2,144.80			1,283.70
	Fees from midstream services:
	Fractionating and treating		46.5			27.2
	Storage, terminaling, transportation and export		99.6			60.2
	Gathering and processing		42.6			18.5
	Other		19.4			8.2
			208.1			114.1
	Total revenues	$	2,352.90		$	1,397.80
Reconciliation of Operating Margin to Net Income	'
	The following table shows a reconciliation of operating margin to net income for the periods presented:
		Three Months Ended March 31,
		2014			2013
	Reconciliation of operating margin to net income:
	Operating margin	$	275.3		$	174.2
	Depreciation and amortization expense		(79.6	)		(64.0	)
	General and administrative expense		(38.0	)		(36.3	)
	Interest expense, net		(33.9	)		(32.1	)
	Other, net		5.6			1.4
	Income tax expense		(22.5	)		(9.4	)
	Net income	$	106.9		$	33.8

Basis_of_Presentation_Details

Basis of Presentation (Details) (USD $)	3 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Partnership Ownership Disclosure [Abstract]	'	'
General partner ownership interest (in hundredths)	2.00%	'
Parent's percentage ownership in the general partner of the Partnership	100.00%	'
Number of Partnership common units owned (in units)	12,945,659	'
Reclassification [Line Items]	'	'
Prior Period Reclassification Adjustment	$18.90	'
Cash flows from operating activities	'	'
Accounts payable and other liabilities	7.8	-41
Net cash provided by operating activities	318.7	192.9
Cash flows from investing activities	'	'
Outlays for property, plant and equipment	-197.7	-221.8
Net cash used in investing activities	-193.7	-226.4
As reported [Member]	'	'
Cash flows from operating activities	'	'
Accounts payable and other liabilities	'	-59.9
Net cash provided by operating activities	'	174
Cash flows from investing activities	'	'
Outlays for property, plant and equipment	'	-202.9
Net cash used in investing activities	'	-207.5
Reclassification [Member]	'	'
Cash flows from operating activities	'	'
Accounts payable and other liabilities	'	18.9
Net cash provided by operating activities	'	18.9
Cash flows from investing activities	'	'
Outlays for property, plant and equipment	'	-18.9
Net cash used in investing activities	'	$18.90
Limited Partner [Member]	'	'
Partnership Ownership Disclosure [Abstract]	'	'
General partner ownership interest (in hundredths)	11.40%	'

Inventories_Details

Inventories (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Inventories [Abstract]	'	'
Commodities	$74.70	$136.40
Materials and supplies	13.8	14.3
Inventories, Net	$88.50	$150.70

Property_Plant_and_Equipment_a2

Property, Plant and Equipment and Intangible Assets (Details) (USD $)

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

In Millions, unless otherwise specified

Intangible Assets [Member]

Gathering Systems [Member]

Gathering Systems [Member]

Processing and Fractionation Facilities [Member]

Processing and Fractionation Facilities [Member]

Terminaling and Storage Facilities [Member]

Terminaling and Storage Facilities [Member]

Transportation Assets [Member]

Transportation Assets [Member]

Other Property, Plant and Equipment [Member]

Other Property, Plant and Equipment [Member]

Targa Resources Partners LP [Member]

Targa Resources Partners LP [Member]

Targa Resources Partners LP [Member]

Targa Resources Partners LP [Member]

Targa Resources Partners LP [Member]

Targa Resources Partners LP [Member]

Targa Resources Partners LP [Member]

Targa Resources Partners LP [Member]

Targa Resources Partners LP [Member]

Targa Resources Partners LP [Member]

Targa Resources Partners LP [Member]

Targa Resources Partners LP [Member]

Targa Resources Partners LP [Member]

Targa Resources Partners LP [Member]

Targa Resources Partners LP [Member]

Targa Resources Partners LP [Member]

TRC Non Partnership [Member]

TRC Non Partnership [Member]

TRC Non Partnership [Member]

TRC Non Partnership [Member]

TRC Non Partnership [Member]

TRC Non Partnership [Member]

TRC Non Partnership [Member]

TRC Non Partnership [Member]

TRC Non Partnership [Member]

TRC Non Partnership [Member]

TRC Non Partnership [Member]

TRC Non Partnership [Member]

TRC Non Partnership [Member]

TRC Non Partnership [Member]

TRC Non Partnership [Member]

TRC Non Partnership [Member]

Targa Resources Corp. Consolidated [Member]

Targa Resources Corp. Consolidated [Member]

Targa Resources Corp. Consolidated [Member]

Targa Resources Corp. Consolidated [Member]

Targa Resources Corp. Consolidated [Member]

Targa Resources Corp. Consolidated [Member]

Targa Resources Corp. Consolidated [Member]

Targa Resources Corp. Consolidated [Member]

Targa Resources Corp. Consolidated [Member]

Targa Resources Corp. Consolidated [Member]

Targa Resources Corp. Consolidated [Member]

Targa Resources Corp. Consolidated [Member]

Targa Resources Corp. Consolidated [Member]

Targa Resources Corp. Consolidated [Member]

Targa Resources Corp. Consolidated [Member]

Targa Resources Corp. Consolidated [Member]

Minimum [Member]

Maximum [Member]

Minimum [Member]

Maximum [Member]

Minimum [Member]

Maximum [Member]

Minimum [Member]

Maximum [Member]

Minimum [Member]

Maximum [Member]

Gathering Systems [Member]

Gathering Systems [Member]

Processing and Fractionation Facilities [Member]

Processing and Fractionation Facilities [Member]

Terminaling and Storage Facilities [Member]

Terminaling and Storage Facilities [Member]

Transportation Assets [Member]

Transportation Assets [Member]

Other Property, Plant and Equipment [Member]

Other Property, Plant and Equipment [Member]

Land [Member]

Land [Member]

Construction in Progress [Member]

Construction in Progress [Member]

Gathering Systems [Member]

Gathering Systems [Member]

Processing and Fractionation Facilities [Member]

Processing and Fractionation Facilities [Member]

Terminaling and Storage Facilities [Member]

Terminaling and Storage Facilities [Member]

Transportation Assets [Member]

Transportation Assets [Member]

Other Property, Plant and Equipment [Member]

Other Property, Plant and Equipment [Member]

Land [Member]

Land [Member]

Construction in Progress [Member]

Construction in Progress [Member]

Gathering Systems [Member]

Gathering Systems [Member]

Processing and Fractionation Facilities [Member]

Processing and Fractionation Facilities [Member]

Terminaling and Storage Facilities [Member]

Terminaling and Storage Facilities [Member]

Transportation Assets [Member]

Transportation Assets [Member]

Other Property, Plant and Equipment [Member]

Other Property, Plant and Equipment [Member]

Land [Member]

Land [Member]

Construction in Progress [Member]

Construction in Progress [Member]

Property, Plant and Equipment [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Property, plant and equipment

$5,936.90

$5,758.40

'

'

'

'

'

'

'

'

'

'

'

$5,930.10

$5,751.60

$2,293.60

$2,230.10

$1,600.70

$1,598

$735.40

$715.20

$334.70

$294.70

$124.80

$121.30

$89.70

$89.50

$751.20

$702.80

$6.80

$6.80

$0

$0

$6.60

$6.60

$0

$0

$0

$0

$0.20

$0.20

$0

$0

$0

$0

$5,936.90

$5,758.40

$2,293.60

$2,230.10

$1,607.30

$1,604.60

$735.40

$715.20

$334.70

$294.70

$125

$121.50

$89.70

$89.50

$751.20

$702.80

Accumulated depreciation

-1,472.60

-1,408.50

'

'

'

'

'

'

'

'

'

'

'

-1,470.30

-1,406.20

'

'

'

'

'

'

'

'

'

'

'

'

'

'

-2.3

-2.3

'

'

'

'

'

'

'

'

'

'

'

'

'

'

-1,472.60

-1,408.50

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Property, plant and equipment, net

4,464.30

4,349.90

'

'

'

'

'

'

'

'

'

'

'

4,459.80

4,345.40

'

'

'

'

'

'

'

'

'

'

'

'

'

'

4.5

4.5

'

'

'

'

'

'

'

'

'

'

'

'

'

'

4,464.30

4,349.90

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Intangible assets

'

'

'

'

'

'

'

'

'

'

'

'

'

681.8

681.8

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

681.8

681.8

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Accumulated amortization

'

'

'

'

'

'

'

'

'

'

'

'

'

-43.7

-28.4

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

-43.7

-28.4

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Intangible assets, net

'

'

'

'

'

'

'

'

'

'

'

'

'

$638.10

$653.40

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$0

$0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$638.10

$653.40

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Estimated useful life

'

'

'

'5 years

'20 years

'5 years

'25 years

'5 years

'25 years

'10 years

'25 years

'3 years

'25 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

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'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Finite-Lived Intangible Assets [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

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'

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'

'

'

'

'

'

'

'

'

'

Estimated useful lives (in years)

'

'

'20 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

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'

'

'

'

'

Asset_Retirement_Obligations_D

Asset Retirement Obligations (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Asset Retirement Obligations [Roll Forward]	'	'
Beginning of Period	$50.90	'
Change in cash flow estimate	2.1	0.2
Accretion expense	1.2	1.1
End of period	$54.20	'

Investment_in_Unconsolidated_A2

Investment in Unconsolidated Affiliate (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014		Mar. 31, 2013
Equity Method Investments [Line Items]	'		'
Beginning of period	$55.90		'
Equity earnings	4.9		1.6
End of period	53.7		'
Return of capital from unconsolidated affiliate	2.2		0
Gulf Coast Fractionators LP [Member]	'		'
Equity Method Investments [Line Items]	'		'
Ownership interest percentage (in hundredths)	38.80%		'
Beginning of period	55.9		'
Equity earnings	4.9		'
Cash distributions	-7.1	[1]	'
End of period	$53.70		'
[1]	Includes distributions in excess of cumulative earnings of $2.2 million that are considered a return of capital and disclosed in cash flows from investing activities in the Consolidated Statements of Cash Flows.

Accounts_Payable_and_Accrued_L2

Accounts Payable and Accrued Liabilities (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Accounts Payable and Accrued Liabilities [Abstract]	'	'
Commodities	$528.10	$520.80
Other goods and services	109.7	146.8
Interest	42.4	35.9
Compensation and benefits	23.5	40.3
Income and other taxes	32.8	10.2
Other	9	7.8
Total accounts payable and accrued liabilities	$745.50	$761.80

Debt_Obligations_Details

Debt Obligations (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014		Dec. 31, 2013
Schedule of Debt Instruments [Line Items]	'		'
Long-term debt	$2,891.70		$2,989.30
Letters of credit outstanding	97.2		86.8
Revolving Credit Facility [Member] | TRC Senior Secured Revolving Credit Facility due 2017 [Member]	'		'
Schedule of Debt Instruments [Line Items]	'		'
Long-term debt	72	[1]	84	[1]
Maturity date	31-Oct-17		'
Letters of credit outstanding	0	[1]	0	[1]
Maximum borrowing capacity	150		'
Remaining borrowing capacity	78		'
Range of interest rates and weighted average interest rate [Abstract]	'		'
Interest Rates Incurred (in hundredths)	2.90%		'
Weighted Average Interest Rate Incurred (in hundredths)	2.90%		'
Targa Resources Partners LP [Member] | Revolving Credit Facility [Member] | TRP Senior Secured Revolving Credit Facility due 2017 [Member]	'		'
Schedule of Debt Instruments [Line Items]	'		'
Long-term debt	355	[2],[3]	395	[2],[3]
Maturity date	31-Oct-17		'
Letters of credit outstanding	97.2	[3]	86.8	[3]
Maximum borrowing capacity	1,200		'
Remaining borrowing capacity	747.8		'
Range of interest rates and weighted average interest rate [Abstract]	'		'
Range of Interest Rates Incurred, Minimum (in hundredths)	2.20%		'
Range of Interest Rates Incurred, Maximum (in hundredths)	4.50%		'
Weighted Average Interest Rate Incurred (in hundredths)	2.30%		'
Targa Resources Partners LP [Member] | Senior Unsecured Notes [Member] | Senior Unsecured 7 7/8% Notes due October 2018 [Member]	'		'
Schedule of Debt Instruments [Line Items]	'		'
Long-term debt	250	[2]	250	[2]
Interest rate on fixed rate debt (in hundredths)	7.88%		'
Maturity date	31-Oct-18		'
Targa Resources Partners LP [Member] | Senior Unsecured Notes [Member] | Senior Unsecured 6 7/8% Notes due February 2021 [Member]	'		'
Schedule of Debt Instruments [Line Items]	'		'
Long-term debt	483.6	[2]	483.6	[2]
Unamortized discount	-27.4	[2]	-28	[2]
Interest rate on fixed rate debt (in hundredths)	6.88%		'
Maturity date	28-Feb-21		'
Targa Resources Partners LP [Member] | Senior Unsecured Notes [Member] | Senior Unsecured 6 3/8% Notes due August 2022 [Member]	'		'
Schedule of Debt Instruments [Line Items]	'		'
Long-term debt	300	[2]	300	[2]
Interest rate on fixed rate debt (in hundredths)	6.38%		'
Maturity date	31-Aug-22		'
Targa Resources Partners LP [Member] | Senior Unsecured Notes [Member] | Senior Unsecured 5 1/4% Notes due May 2023 [Member]	'		'
Schedule of Debt Instruments [Line Items]	'		'
Long-term debt	600	[2]	600	[2]
Interest rate on fixed rate debt (in hundredths)	5.25%		'
Maturity date	31-May-23		'
Targa Resources Partners LP [Member] | Senior Unsecured Notes [Member] | Senior Unsecured 4 1/4% Notes due November 2023 [Member]	'		'
Schedule of Debt Instruments [Line Items]	'		'
Long-term debt	625	[2]	625	[2]
Interest rate on fixed rate debt (in hundredths)	4.25%		'
Maturity date	30-Nov-23		'
Targa Resources Partners LP [Member] | Accounts receivable securitization facility [Member]	'		'
Schedule of Debt Instruments [Line Items]	'		'
Long-term debt	$233.50	[2],[4]	$279.70	[2],[4]
Maturity date	31-Dec-14		'
Targa Resources Partners LP [Member] | Accounts receivable securitization facility [Member] | Partnership's Accounts Receivable Securitization Facility due 2014 [Member]	'		'
Range of interest rates and weighted average interest rate [Abstract]	'		'
Interest Rates Incurred (in hundredths)	0.90%		'
Weighted Average Interest Rate Incurred (in hundredths)	0.90%		'
[1]	As of March 31, 2014, availability under TRCbs $150 million senior secured revolving credit facility was $78.0 million.
[2]	While we consolidate the debt of the Partnership in our financial statements, we do not have the obligation to make interest payments or debt payments with respect to the debt of the Partnership.
[3]	As of March 31, 2014, availability under the Partnershipbs $1.2 billion senior secured revolving credit facility was $747.8 million.
[4]	All amounts outstanding under the Partnershipbs Securitization Facility are reflected as long-term debt in our balance sheet because the Partnership has the ability and intent to fund the Securitization Facilitybs borrowings on a long-term basis.

Partnership_Units_and_Related_2

Partnership Units and Related Matters (Details) (USD $)	3 Months Ended			1 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Apr. 18, 2014	Apr. 30, 2014
			August 2013 EDA [Member]	August 2013 EDA [Member]	August 2013 EDA [Member]
				Subsequent Event [Member]	Subsequent Event [Member]
Partnership Equity [Abstract]	'	'	'	'	'
Number of common units sold (in shares)	'	'	2,222,271	802,630	'
Net proceeds from sale of common units	'	'	$115.30	$47.70	'
Receivables from issuance of common units	'	'	'	'	5.9
General partner contributed to maintain general partner ownership percentage	'	'	2.4	1	'
Receivables from contribution to maintain 2% general partner interest	'	'	'	'	1.2
General partner ownership interest (in hundredths)	2.00%	'	2.00%	2.00%	'
Aggregate amount of debt or equity securities allowed to be issued under the shelf agreement	'	'	'	7.4	'
Number of days from end of each quarter by when cash is distributed to unit holders	'45 days	'	'	'	'
Date paid or to be paid	15-May-14	14-Feb-14	'	'	'
Distributions Paid Limited Partners Common	87.2	84	'	'	'
Distributions to General Partners (Incentive)	31.7	29.5	'	'	'
Distributions to General Partners (2%)	2.4	2.3	'	'	'
Total distributions to general and limited partners	121.3	115.8	'	'	'
Distributions to Targa Resources Corp.	$44	$41.50	'	'	'
Distributions per limited partner per unit (in dollars per unit)	$0.76	$0.75	'	'	'

Common_Stock_and_Related_Matte2

Common Stock and Related Matters (Details) (USD $)	3 Months Ended
In Millions, except Per Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014		Dec. 31, 2013
			Dividend declared, Q1 2014 [Member]		Dividend Declared, Q4 2013 [Member]
Dividends Payable [Line Items]	'	'	'		'
Date paid or to be paid	'	'	16-May-14		18-Feb-14
Total dividend declared	'	'	$27.40		$25.60
Amount of dividend to be paid	'	'	27.2		'
Amount of dividend paid	25.5	19	'		25.5
Accrued dividends	'	'	$0.20	[1]	$0.10	[1]
Dividend declared per share of common stock (in dollars per share)	'	'	$0.65		$0.61
[1]	Represents accrued dividends on restricted stock and restricted stock units that are payable upon vesting.

Earnings_per_Common_Share_Deta

Earnings per Common Share (Details) (USD $)	3 Months Ended
In Millions, except Per Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Earnings per Common Share [Abstract]	'	'
Net income	$106.90	$33.80
Less: Net income attributable to noncontrolling interests	87.3	20.4
Net income attributable to common shareholders	$19.60	$13.40
Weighted average shares outstanding - basic (in shares)	42	41.6
Net income available per common share - basic (in dollars per share)	$0.47	$0.32
Weighted average shares outstanding (in shares)	42	41.6
Dilutive effect of unvested stock awards (in shares)	0.1	0.4
Weighted average shares outstanding - diluted (in shares)	42.1	42
Net income available per common share - diluted (in dollars per share)	$0.47	$0.32

Derivative_Instruments_and_Hed2

Derivative Instruments and Hedging Activities (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014
	MMBTU
Derivative Line [Items]	'
Derivative financial instruments, fair value, net	9.6
Cash flow commodity hedge deferred net gain to be reclassified within twelve months	11
Cash flow interest rate swaps deferred net loss to be reclassified within twelve months	1.1
Instruments - Swaps [Member] | Year 2014 [Member] | Natural Gas [Member]	'
Derivative Line [Items]	'
Notional volumes of commodity hedges (per day)	54,050
Instruments - Swaps [Member] | Year 2014 [Member] | NGL [Member]	'
Derivative Line [Items]	'
Notional volumes of commodity hedges (per day)	1,125
Instruments - Swaps [Member] | Year 2014 [Member] | Condensate [Member]	'
Derivative Line [Items]	'
Notional volumes of commodity hedges (per day)	2,450
Instruments - Swaps [Member] | Year 2015 [Member] | Natural Gas [Member]	'
Derivative Line [Items]	'
Notional volumes of commodity hedges (per day)	40,551
Instruments - Swaps [Member] | Year 2015 [Member] | NGL [Member]	'
Derivative Line [Items]	'
Notional volumes of commodity hedges (per day)	0
Instruments - Swaps [Member] | Year 2015 [Member] | Condensate [Member]	'
Derivative Line [Items]	'
Notional volumes of commodity hedges (per day)	0
Instruments - Swaps [Member] | Year 2016 [Member] | Natural Gas [Member]	'
Derivative Line [Items]	'
Notional volumes of commodity hedges (per day)	25,500
Instruments - Swaps [Member] | Year 2016 [Member] | NGL [Member]	'
Derivative Line [Items]	'
Notional volumes of commodity hedges (per day)	0
Instruments - Swaps [Member] | Year 2016 [Member] | Condensate [Member]	'
Derivative Line [Items]	'
Notional volumes of commodity hedges (per day)	0

Derivative_Instruments_and_Hed3

Derivative Instruments and Hedging Activities, Derivative Instruments and Hedging Activities, Fair Values Derivatives, Balance Sheet Location, by Derivative Contract Type (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Derivative Assets [Abstract]	'	'
Current assets	$1.60	$2
Long-term assets	2.9	3.1
Total derivative assets	4.5	5.1
Derivative Liabilities [Abstract]	'	'
Current liabilities	-12.9	-8
Long-term liabilities	-1.2	-1.4
Total derivative liabilities	-14.1	-9.4
Pro forma impact of reporting derivatives in the Consolidated Balance Sheet [Abstract]	'	'
Fair value, net	9.6	'
Asset Position [Member] | Gross Presentation [Member]	'	'
Pro forma impact of reporting derivatives in the Consolidated Balance Sheet [Abstract]	'	'
Counterparties with offsetting position	2.6	2.6
Counterparties without offsetting position - assets	1.9	2.5
Counterparties without offsetting position - liabilities	0	0
Fair value, net	4.5	5.1
Asset Position [Member] | Pro-forma Net Presentation [Member]	'	'
Pro forma impact of reporting derivatives in the Consolidated Balance Sheet [Abstract]	'	'
Counterparties with offsetting position	0.7	0
Counterparties without offsetting position - assets	1.9	2.5
Counterparties without offsetting position - liabilities	0	0
Fair value, net	2.6	2.5
Liability Position [Member] | Gross Presentation [Member]	'	'
Pro forma impact of reporting derivatives in the Consolidated Balance Sheet [Abstract]	'	'
Counterparties with offsetting position	-3.7	-5.6
Counterparties without offsetting position - assets	0	0
Counterparties without offsetting position - liabilities	-10.4	-3.8
Fair value, net	-14.1	-9.4
Liability Position [Member] | Pro-forma Net Presentation [Member]	'	'
Pro forma impact of reporting derivatives in the Consolidated Balance Sheet [Abstract]	'	'
Counterparties with offsetting position	-1.8	-3
Counterparties without offsetting position - assets	0	0
Counterparties without offsetting position - liabilities	-10.4	-3.8
Fair value, net	-12.2	-6.8
Current Position [Member] | Asset Position [Member] | Gross Presentation [Member]	'	'
Pro forma impact of reporting derivatives in the Consolidated Balance Sheet [Abstract]	'	'
Counterparties with offsetting position	1.6	1.9
Counterparties without offsetting position - assets	0	0.1
Counterparties without offsetting position - liabilities	0	0
Fair value, net	1.6	2
Current Position [Member] | Asset Position [Member] | Pro-forma Net Presentation [Member]	'	'
Pro forma impact of reporting derivatives in the Consolidated Balance Sheet [Abstract]	'	'
Counterparties with offsetting position	0	0
Counterparties without offsetting position - assets	0	0.1
Counterparties without offsetting position - liabilities	0	0
Fair value, net	0	0.1
Current Position [Member] | Liability Position [Member] | Gross Presentation [Member]	'	'
Pro forma impact of reporting derivatives in the Consolidated Balance Sheet [Abstract]	'	'
Counterparties with offsetting position	-3.4	-4.4
Counterparties without offsetting position - assets	0	0
Counterparties without offsetting position - liabilities	-9.5	-3.6
Fair value, net	-12.9	-8
Current Position [Member] | Liability Position [Member] | Pro-forma Net Presentation [Member]	'	'
Pro forma impact of reporting derivatives in the Consolidated Balance Sheet [Abstract]	'	'
Counterparties with offsetting position	-1.8	-2.5
Counterparties without offsetting position - assets	0	0
Counterparties without offsetting position - liabilities	-9.5	-3.6
Fair value, net	-11.3	-6.1
Long-term Position [Member] | Asset Position [Member] | Gross Presentation [Member]	'	'
Pro forma impact of reporting derivatives in the Consolidated Balance Sheet [Abstract]	'	'
Counterparties with offsetting position	1	0.7
Counterparties without offsetting position - assets	1.9	2.4
Counterparties without offsetting position - liabilities	0	0
Fair value, net	2.9	3.1
Long-term Position [Member] | Asset Position [Member] | Pro-forma Net Presentation [Member]	'	'
Pro forma impact of reporting derivatives in the Consolidated Balance Sheet [Abstract]	'	'
Counterparties with offsetting position	0.7	0
Counterparties without offsetting position - assets	1.9	2.4
Counterparties without offsetting position - liabilities	0	0
Fair value, net	2.6	2.4
Long-term Position [Member] | Liability Position [Member] | Gross Presentation [Member]	'	'
Pro forma impact of reporting derivatives in the Consolidated Balance Sheet [Abstract]	'	'
Counterparties with offsetting position	-0.3	-1.2
Counterparties without offsetting position - assets	0	0
Counterparties without offsetting position - liabilities	-0.9	-0.2
Fair value, net	-1.2	-1.4
Long-term Position [Member] | Liability Position [Member] | Pro-forma Net Presentation [Member]	'	'
Pro forma impact of reporting derivatives in the Consolidated Balance Sheet [Abstract]	'	'
Counterparties with offsetting position	0	-0.5
Counterparties without offsetting position - assets	0	0
Counterparties without offsetting position - liabilities	-0.9	-0.2
Fair value, net	-0.9	-0.7
Designated as Hedging Instrument [Member]	'	'
Derivative Assets [Abstract]	'	'
Total derivative assets	4.5	5.1
Derivative Liabilities [Abstract]	'	'
Total derivative liabilities	-14	-9.1
Designated as Hedging Instrument [Member] | Commodity Contracts [Member]	'	'
Derivative Assets [Abstract]	'	'
Current assets	1.6	2
Long-term assets	2.9	3.1
Derivative Liabilities [Abstract]	'	'
Current liabilities	-12.8	-7.7
Long-term liabilities	-1.2	-1.4
Not Designated as Hedging Instrument [Member]	'	'
Derivative Assets [Abstract]	'	'
Total derivative assets	0	0
Derivative Liabilities [Abstract]	'	'
Total derivative liabilities	-0.1	-0.3
Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member]	'	'
Derivative Assets [Abstract]	'	'
Current assets	0	0
Derivative Liabilities [Abstract]	'	'
Current liabilities	($0.10)	($0.30)

Derivative_Instruments_and_Hed4

Derivative Instruments and Hedging Activities, Derivative Instruments and Hedging Activities, Derivative Instruments, Gain (Loss) by Hedging Relationship, by Income Statement Location, by Derivative Instrument Risk (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'
Gain (Loss) Reclassified from OCI into Income - Effective Portion	($7.60)	$4.90	'
Revenue [Member]	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'
Gain (Loss) Reclassified from OCI into Income - Effective Portion	-6.3	6.6	'
Interest Expense, Net [Member]	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'
Gain (Loss) Reclassified from OCI into Income - Effective Portion	-1.3	-1.7	'
Commodity Contracts [Member]	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'
Gain (Loss) Recognized in OCI - Effective Portion	-11.9	-7.6	'
Unrealized gain (loss) on hedges, before tax	-1.2	'	-0.5
Unrealized gain (loss) on hedges, after tax	-0.8	'	-0.3
Interest Rate Swap [Member]	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'
Unrealized gain (loss) on hedges, before tax	-0.1	'	-0.3
Unrealized gain (loss) on hedges, after tax	($0.10)	'	($0.20)

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014
	Swap
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'
Assets from commodity derivative contracts (1)	$3.90	[1]
Liabilities from commodity derivative contracts (1)	13.5	[1]
Badlands contingent consideration liability	0
Cash and cash equivalents	94.9
TRC Senior secured revolving credit facility	72
Partnership's Senior secured revolving credit facility	355
Partnership's Senior unsecured notes	2,284
Partnership's accounts receivable securitization facility	233.5
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Derivative fair value commodity price increases 10 percent, net liability	33.1
Derivative fair value commodity price decreases 10 percent, net asset	13.8
Number of natural gas basis swaps categorized as Level 3	14
Commodity Derivative Contracts [Member]	'
Fair Value, Liabilities/Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]	'
Balance, December 31, 2013	0.7
Settlements included in Revenue	-0.9
Balance, March 31, 2014	-0.2
Fair Value, Inputs, Level 1 [Member]	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'
Assets from commodity derivative contracts (1)	0	[1]
Liabilities from commodity derivative contracts (1)	0	[1]
Badlands contingent consideration liability	0
Cash and cash equivalents	0
TRC Senior secured revolving credit facility	0
Partnership's Senior secured revolving credit facility	0
Partnership's Senior unsecured notes	0
Partnership's accounts receivable securitization facility	0
Fair Value, Inputs, Level 2 [Member]	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'
Assets from commodity derivative contracts (1)	2.6	[1]
Liabilities from commodity derivative contracts (1)	12	[1]
Badlands contingent consideration liability	0
Cash and cash equivalents	0
TRC Senior secured revolving credit facility	72
Partnership's Senior secured revolving credit facility	355
Partnership's Senior unsecured notes	2,284
Partnership's accounts receivable securitization facility	233.5
Fair Value, Inputs, Level 3 [Member]	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'
Assets from commodity derivative contracts (1)	1.3	[1]
Liabilities from commodity derivative contracts (1)	1.5	[1]
Badlands contingent consideration liability	0
Cash and cash equivalents	0
TRC Senior secured revolving credit facility	0
Partnership's Senior secured revolving credit facility	0
Partnership's Senior unsecured notes	0
Partnership's accounts receivable securitization facility	0
Carrying (Reported) Amount, Fair Value Disclosure [Member]	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'
Assets from commodity derivative contracts (1)	3.9	[1]
Liabilities from commodity derivative contracts (1)	13.5	[1]
Badlands contingent consideration liability	0
Cash and cash equivalents	94.9
TRC Senior secured revolving credit facility	72
Partnership's Senior secured revolving credit facility	355
Partnership's Senior unsecured notes	2,231.20
Partnership's accounts receivable securitization facility	$233.50
[1]	The fair value of the derivative contracts in this table is presented on a different basis than the balance sheet presentation as disclosed in Note 13. The above fair values reflect the total value of each derivative contract taken as a whole, whereas the balance sheet 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 balance sheet classification purposes.

Supplemental_Cash_Flow_Informa2

Supplemental Cash Flow Information (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014		Mar. 31, 2013
Cash [Abstract]	'		'
Interest paid, net of capitalized interest	$23.70	[1]	$32.10	[1]
Income taxes paid, net of refunds	0.1		0.3
Non-cash:	'		'
Deadstock inventory transferred to property, plant and equipment	1.1		4.5
Accrued dividends on unvested equity awards	0.2		0.4
Change in receivables from unit offerings	5.9		0
Change in capital accruals	22.7		14.9
Transfers from materials and supplies inventory to property, plant and equipment	0.4		0
Change in ARO estimate	2.1		0.2
Interest capitalized on major projects	$6.90		$6.10
[1]	Interest capitalized on major projects was $6.9 million and $6.1 million for the three months ended March 31, 2014 and 2013.

Segment_Information_Details

Segment Information (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
	Segment
	Division
Segment Information [Abstract]	'	'	'
Number of divisions	2	'	'
Number of reportable segments	4	'	'
Segment Reporting Information [Line Items]	'	'	'
Sale of commodities	$2,144.80	$1,283.70	'
Fees from midstream services	208.1	114.1	'
Revenues	2,352.90	1,397.80	'
Operating Margin	275.3	174.2	'
Total assets	6,055.20	5,148.50	6,048.60
Capital Expenditures	175.4	206.9	'
Depreciation and amortization expenses	-79.6	-64	'
General and administrative expenses	-38	-36.3	'
Interest expense, net	-33.9	-32.1	'
Other, net	5.6	1.4	'
Income tax expense	-22.5	-9.4	'
Net income	106.9	33.8	'
Field Gathering and Processing [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Revenues	488.1	332.2	'
Operating Margin	94.1	53.8	'
Total assets	3,275.10	2,854.70	'
Capital Expenditures	98.9	96.1	'
Coastal Gathering and Processing [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Revenues	285.2	230.3	'
Operating Margin	26.1	23.5	'
Total assets	385.1	416.3	'
Capital Expenditures	4.3	6.5	'
Logistics Assets [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Revenues	155.9	117.5	'
Operating Margin	96.6	56.3	'
Total assets	1,568.70	1,210.70	'
Capital Expenditures	68.6	103.7	'
Marketing and Distribution [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Revenues	2,213.30	1,291.40	'
Operating Margin	64.6	34	'
Total assets	614.1	436.9	'
Capital Expenditures	3.1	0	'
Other Segment [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Revenues	-6.1	6.6	'
Operating Margin	-6.1	6.6	'
Total assets	4.5	21.4	'
Capital Expenditures	0	0	'
Corporate and Eliminations [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Revenues	-783.5	-580.2	'
Operating Margin	0	0	'
Total assets	128.8	134.2	'
Capital Expenditures	0.5	0.6	'
TRC Non- Partnership [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Revenues	0	0	'
Operating Margin	0	0	'
Total assets	78.9	74.3	'
Capital Expenditures	0	0	'
Natural gas sales [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Sale of commodities	392.6	255.3	'
NGL sales [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Sale of commodities	1,710.60	963.5	'
Condensate sales [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Sale of commodities	28.4	27.1	'
Petroleum Products [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Sale of commodities	20.1	31.3	'
Derivative activities [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Sale of commodities	-6.9	6.5	'
Fractionating and treating fees [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Fees from midstream services	46.5	27.2	'
Storage And Terminaling Fees [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Fees from midstream services	99.6	60.2	'
Gathering and processing fees [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Fees from midstream services	42.6	18.5	'
Total Other Revenues [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Fees from midstream services	19.4	8.2	'
Total outside Revenues [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Sale of commodities	2,144.80	1,283.70	'
Fees from midstream services	208.1	114.1	'
Revenues	2,352.90	1,397.80	'
Total outside Revenues [Member] | Field Gathering and Processing [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Sale of commodities	45.8	38.1	'
Fees from midstream services	40.8	20.2	'
Revenues	86.6	58.3	'
Total outside Revenues [Member] | Coastal Gathering and Processing [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Sale of commodities	100.5	69.6	'
Fees from midstream services	7.7	8.8	'
Revenues	108.2	78.4	'
Total outside Revenues [Member] | Logistics Assets [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Sale of commodities	21	32.9	'
Fees from midstream services	68.1	47.1	'
Revenues	89.1	80	'
Total outside Revenues [Member] | Marketing and Distribution [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Sale of commodities	1,983.70	1,136.50	'
Fees from midstream services	91.3	38	'
Revenues	2,075	1,174.50	'
Total outside Revenues [Member] | Other Segment [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Sale of commodities	-6.1	6.6	'
Fees from midstream services	0	0	'
Revenues	-6.1	6.6	'
Total outside Revenues [Member] | Corporate and Eliminations [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Sale of commodities	-0.1	0	'
Fees from midstream services	0.2	0	'
Revenues	0.1	0	'
Total outside Revenues [Member] | TRC Non- Partnership [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Sale of commodities	0	0	'
Fees from midstream services	0	0	'
Revenues	0	0	'
Total Intersegment Revenues [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Sale of commodities	0	0	'
Fees from midstream services	0	0	'
Revenues	0	0	'
Total Intersegment Revenues [Member] | Field Gathering and Processing [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Sale of commodities	400.4	273	'
Fees from midstream services	1.1	0.9	'
Revenues	401.5	273.9	'
Total Intersegment Revenues [Member] | Coastal Gathering and Processing [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Sale of commodities	177	151.9	'
Fees from midstream services	0	0	'
Revenues	177	151.9	'
Total Intersegment Revenues [Member] | Logistics Assets [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Sale of commodities	0.6	0.9	'
Fees from midstream services	66.2	36.6	'
Revenues	66.8	37.5	'
Total Intersegment Revenues [Member] | Marketing and Distribution [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Sale of commodities	130.4	110.5	'
Fees from midstream services	7.9	6.4	'
Revenues	138.3	116.9	'
Total Intersegment Revenues [Member] | Other Segment [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Sale of commodities	0	0	'
Fees from midstream services	0	0	'
Revenues	0	0	'
Total Intersegment Revenues [Member] | Corporate and Eliminations [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Sale of commodities	-708.4	-536.3	'
Fees from midstream services	-75.2	-43.9	'
Revenues	-783.6	-580.2	'
Total Intersegment Revenues [Member] | TRC Non- Partnership [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Sale of commodities	0	0	'
Fees from midstream services	0	0	'
Revenues	$0	$0	'