Targa Resources (TRGP) 10-K 21 Feb 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Feb. 10, 2017	Jun. 30, 2016
Document And Entity Information [Abstract]
Entity Registrant Name	Targa Resources Corp.
Entity Central Index Key	1,389,170
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 Public Float			$ 6,774.8
Entity Common Stock, Shares Outstanding		193,949,450
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2016

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions		Dec. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents		$ 73.5	$ 140.2
Trade receivables, net of allowances of $0.9 and $0.1 million at December 31, 2016 and 2015		674.6	515.8
Inventories		137.7	141
Assets from risk management activities		16.8	92.2
Income tax receivable		67.8	13.5
Other current assets		36.4	17.3
Total current assets		1,006.8	920
Property, plant and equipment		12,518.7	11,935.1
Accumulated depreciation		(2,827.7)	(2,232.4)
Property, plant and equipment, net		9,691	9,702.7
Intangible assets, net		1,654	1,810.1
Goodwill, net		210	417
Long-term assets from risk management activities		5.1	34.9
Investments in unconsolidated affiliates		240.8	258.9
Other long-term assets		63.5	67.4
Total assets	[1]	12,871.2	13,211
Current liabilities:
Accounts payable and accrued liabilities		843.5	650.4
Liabilities from risk management activities		49.1	5.2
Accounts receivable securitization facility	[2]	275	219.3
Total current liabilities		1,167.6	874.9
Long-term debt		4,606	5,718.8
Long-term liabilities from risk management activities		26.1	2.4
Deferred income taxes, net		941.2	177.8
Other long-term liabilities		215.1	186.9
Contingencies (see Note 20)		0	0
Targa Resources Corp. stockholders' equity:
Common stock value		0.2	0.1
Preferred stock ($0.001 par value, after designation of Series A Preferred Stock: 98,800,000 shares authorized, no shares issued and outstanding)		0	0
Additional paid-in capital		5,506.2	1,457.4
Retained earnings (deficit)		(187.3)	26.9
Accumulated other comprehensive income (loss)		(38.3)	5.7
Treasury stock, at cost (513,880 shares as of December 31, 2016 and 426,307 as of December 31, 2015)		(32.2)	(28.7)
Total Targa Resources Corp. stockholders' equity		5,248.6	1,461.4
Noncontrolling interests in subsidiaries		475.8	4,788.8
Total owners' equity		5,724.4	6,250.2
Total liabilities, Series A Preferred Stock and owners' equity		12,871.2	13,211
Series A Preferred Stock [Member]
Targa Resources Corp. stockholders' equity:
Series A Preferred 9.5% Stock, $1,000 per share liquidation preference, (1,200,000 shares authorized, issued and outstanding 965,100 shares), net of discount (see Note 12)		$ 190.8	$ 0
[1]	Corporate assets at the segment level primarily include tax-related assets, cash, prepaids and debt issuance costs for our revolving credit facilities.
[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.

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Current assets:
Trade receivables, allowances	$ 0.9	$ 0.1
Targa Resources Corp. stockholders' equity:
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	300,000,000	300,000,000
Common stock, shares issued (in shares)	185,234,405	56,446,573
Common stock, shares outstanding (in shares)	184,720,525	56,020,266
Preferred stock, par value (in dollar per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	98,800,000	0
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Treasury stock, shares (in shares)	513,880	426,307
Series A Preferred Stock [Member]
LIABILITIES, SERIES A PREFERRED STOCK AND OWNERS' EQUITY
Preferred Series A Liquidation Stock Percentage	9.50%
Preferred Stock, Liquidation Preference Per Share	$ 1,000
Preferred Stock, Shares Authorized	1,200,000
Preferred Stock, Shares Issued	1,200,000
Preferred Stock, Shares Outstanding	965,100

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2016		Dec. 31, 2015		Dec. 31, 2014
Revenues
Sales of commodities	$ 5,626.8		$ 5,465.4		$ 7,595.2
Fees from midstream services	1,064.1		1,193.2		1,021.3
Total revenues	6,690.9		6,658.6		8,616.5
Costs and expenses:
Product purchases	4,922.9		4,837.6		6,992.7
Operating expenses	553.7		540		487.3
Depreciation and amortization expenses	757.7		677.1		351
General and administrative expenses	187.2		161.7		148
Goodwill impairment	207		290		0
Other operating (income) expense	6.6		(7.1)		(3)
Income from operations	55.8	[1],[2]	159.3	[3],[4]	640.5
Other income (expense):
Interest expense, net	(254.2)		(231.9)		(147.1)
Equity earnings (loss)	(14.3)		(2.5)		18
Gain (loss) from financing activities	(48.2)		(10.1)		(12.4)
Other	1.2		(26.6)		(8)
Income (loss) before income taxes	(259.7)		(111.8)		491
Income tax (expense) benefit	100.6		(39.6)		(68)
Net income (loss)	(159.1)		(151.4)		423
Less: Net income (loss) attributable to noncontrolling interests	28.2		(209.7)		320.7
Net income (loss) attributable to Targa Resources Corp.	(187.3)		58.3		102.3
Dividends on Series A preferred stock	72.6
Deemed dividends on Series A preferred stock	18.2
Net income (loss) attributable to common shareholders	$ (278.1)		$ 58.3		$ 102.3
Net income (loss) per common share - basic	$ (1.80)		$ 1.09		$ 2.44
Net income (loss) per common share - diluted	$ (1.80)		$ 1.09		$ 2.43
Weighted average shares outstanding - basic	154.4		53.5		42
Weighted average shares outstanding - diluted	154.4		53.6		42.1
[1]	Includes a goodwill impairment of $183.0 million in the fourth quarter of 2016. See Note 7 – Goodwill.
[2]	Includes an additional goodwill impairment of $24.0 million in the first quarter of 2016. See Note 7 – Goodwill.
[3]	Includes $32.6 million of impairment losses in the fourth quarter of 2015. See Note 6 – Property, Plant and Equipment and Intangible Assets.
[4]	Includes a provisional goodwill impairment of $290.0 million in the fourth quarter of 2015. See Note 7 – Goodwill

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Net income (loss) attributable to Targa Resources Corp.	$ (187.3)	$ 58.3	$ 102.3
Interest rate swaps:
Change in fair value, pre-tax	0	0	0
Change in fair value, related income tax	0	0	0
Change in fair value, after tax	0	0	0
Settlements reclassified to interest expense, net, pre-tax	0	0	0.3
Settlements reclassified to interest expense, net, related income tax	0	0	(0.1)
Settlements reclassified to interest expense, net, after tax	0	0	0.2
Other comprehensive income (loss) attributable to Targa Resources Corp., pre-tax	(161.1)	1.5	8.4
Other comprehensive income (loss) attributable to Targa Resources Corp., related income tax	61.3	(0.6)	(3.1)
Other comprehensive income (loss) attributable to Targa Resources Corp., after tax	(99.8)	0.9	5.3
Comprehensive income (loss) attributable to Targa Resources Corp.	(287.1)	59.2	107.6
Net income (loss) attributable to noncontrolling interests	28.2	(209.7)	320.7
Interest rate swaps:
Change in fair value, pre-tax	0	0	0
Change in fair value, related income tax	0	0	0
Change in fair value, after tax	0	0	0
Settlements reclassified to interest expense, net, pre-tax	0	0	2.1
Settlements reclassified to interest expense, net, related income tax	0	0	0
Settlements reclassified to interest expense, net, after tax	0	0	2.1
Other comprehensive income (loss) attributable to noncontrolling interests, pre-tax	12.5	24.9	57.9
Other comprehensive income (loss) attributable to noncontrolling interests, related income tax	0	0	0
Other comprehensive income (loss) attributable to noncontrolling interests, after tax	12.5	24.9	57.9
Comprehensive income (loss) attributable to noncontrolling interests	40.7	(184.8)	378.6
Total
Net income (loss)	(159.1)	(151.4)	423
Interest rate swaps:
Change in fair value, pre-tax	0	0	0
Change in fair value, related income tax	0	0	0
Change in fair value, after tax	0	0	0
Settlements reclassified to interest expense, net, pre-tax	0	0	2.4
Settlements reclassified to interest expense, net, related income tax	0	0	(0.1)
Settlements reclassified to interest expense, net, after tax	0	0	2.3
Other comprehensive income (loss) attributable to Targa Resources Corp., pre-tax	(148.6)	26.4	66.3
Other comprehensive income (loss) attributable to Targa Resources Corp., related income tax	61.3	(0.6)	(3.1)
Other comprehensive income (loss) attributable to Targa Resources Corp., after tax	(87.3)	25.8	63.2
Total comprehensive income (loss)	(246.4)	(125.6)	486.2
Commodity Contracts [Member]
Commodity hedging contracts:
Change in fair value, pre-tax	(127.3)	11	7.5
Change in fair value, related income tax	48.5	(4.2)	(2.9)
Change in fair value, after tax	(78.8)	6.8	4.6
Settlements reclassified to revenues, pre-tax	(33.8)	(9.5)	0.6
Settlements reclassified to revenues, related income tax	12.8	3.6	(0.1)
Settlements reclassified to revenues, after tax	(21)	(5.9)	0.5
Commodity hedging contracts:
Change in fair value, pre-tax	23.7	101.7	52.2
Change in fair value, related income tax	0	0	0
Change in fair value, after tax	23.7	101.7	52.2
Settlements reclassified to revenues, pre-tax	(11.2)	(76.8)	3.6
Settlements reclassified to revenues, related income tax	0	0	0
Settlements reclassified to revenues, after tax	(11.2)	(76.8)	3.6
Commodity hedging contracts:
Change in fair value, pre-tax	(103.6)	112.7	59.7
Change in fair value, related income tax	48.5	(4.2)	(2.9)
Change in fair value, after tax	(55.1)	108.5	56.8
Settlements reclassified to revenues, pre-tax	(45)	(86.3)	4.2
Settlements reclassified to revenues, related income tax	12.8	3.6	(0.1)
Settlements reclassified to revenues, after tax	$ (32.2)	$ (82.7)	$ 4.1

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN OWNERS' EQUITY AND SERIES A PREFERRED STOCK - USD ($) $ in Millions	Total	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]		Series A Preferred Stock [Member]
Balance at Dec. 31, 2013	$ 2,091.3	$ 0	$ 151.6	$ 20.5	$ (0.5)	$ (22.8)	$ 1,942.5
Balance (in shares) at Dec. 31, 2013		42,162,000				367,000
Series A Preferred Stock at Dec. 31, 2013									$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Compensation on equity grants	15.3	$ 0	6.1	0	0	$ 0	9.2		0
Compensation on equity grants (in shares)		0				0
Distribution equivalent rights	(1.4)	$ 0	0	0	0	$ 0	(1.4)		0
Shares issued under compensation program (in shares)		3,000				0
Shares and units tendered for tax withholding obligations	(7.4)	$ 0	0	0	0	$ (2.6)	(4.8)		0
Shares and units tendered for tax withholding obligations (in shares)		(22,000)				22,000
Sale of Partnership limited partner interests	408.4	$ 0	0	0	0	$ 0	408.4		0
Impact of Partnership/subsidiary equity transactions	0	0	23	0	0	0	(23)		0
Dividends	(113.1)	0	0	(113.1)	0	0	0		0
Common stock dividends
Dividends in excess of retained earnings	0	0	(15.8)	15.8	0	0	0		0
Distributions to noncontrolling interests	(339.8)	0	0	0	0	0	(339.8)		0
Other comprehensive income (loss)	63.2	0	0	0	5.3	0	57.9		0
Net income (loss)	423	0	0	102.3	0	0	320.7		0
Balance at Dec. 31, 2014	2,539.5	$ 0	164.9	25.5	4.8	$ (25.4)	2,369.7		0
Balance (in shares) at Dec. 31, 2014		42,143,000				389,000
Series A Preferred Stock at Dec. 31, 2014									0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Compensation on equity grants	26.1	$ 0	9.5	0	0	$ 0	16.6		0
Compensation on equity grants (in shares)		0				0
Distribution equivalent rights	(2.4)	$ 0	(0.8)	0	0	$ 0	(1.6)		0
Shares issued under compensation program (in shares)		50,000				0
Shares and units tendered for tax withholding obligations	(8.8)	$ 0	0	0	0	$ (3.3)	(5.5)		0
Shares and units tendered for tax withholding obligations (in shares)		(37,000)				37,000
Sale of Partnership limited partner interests	436	$ 0	0	0	0	$ 0	436		0
Issuance of common stock	335.5	$ 0	335.5	0	0	$ 0	0		0
Issuance of common stock (in shares)		3,738,000				0
Impact of Partnership/subsidiary equity transactions			56.8				(56.8)
Dividends	(179)	$ 0	0	(179)	0	$ 0	0		0
Common stock dividends
Dividends in excess of retained earnings	0	0	(122.1)	122.1	0	0	0		0
Distributions to noncontrolling interests	(514.8)	0	0	0	0	0	(514.8)		0
Distributions payable to preferred unitholders	(0.9)	0	0	0	0	0	(0.9)		0
Contributions from noncontrolling interests	78.4	0	0	0	0	0	78.4		0
Noncontrolling interests in acquired subsidiaries	216.8	0	0	0	0	0	216.8		0
Common stock issued in ATLS merger	1,013.7	$ 0.1	1,013.6	0	0	$ 0	0		0
Common stock issued in ATLS merger (in shares)		10,126,000				0
Partnership units issued in APL merger	2,435.7	$ 0	0	0	0	$ 0	2,435.7		0
Other comprehensive income (loss)	25.8	0	0	0	0.9	0	24.9		0
Net income (loss)	(151.4)	0	0	58.3	0	0	(209.7)		0
Balance at Dec. 31, 2015	6,250.2	$ 0.1	1,457.4	26.9	5.7	$ (28.7)	4,788.8
Balance (in shares) at Dec. 31, 2015		56,020,000				426,000
Series A Preferred Stock at Dec. 31, 2015									0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Compensation on equity grants	29.7	$ 0	27.5	0	0	$ 0	2.2		$ 0
Compensation on equity grants (in shares)		0				0			0
Distribution equivalent rights	(8.9)	$ 0	(8.7)	0	0	$ 0	(0.2)		$ 0
Shares issued under compensation program (in shares)		364,000				0			0
Shares and units tendered for tax withholding obligations	(3.6)	$ 0	0	0	0	$ (3.5)	(0.1)		$ 0
Shares and units tendered for tax withholding obligations (in shares)		(88,000)				88,000			0
Issuance of common stock	572.7	$ 0	572.7	0	0	$ 0	0		$ 0
Issuance of common stock (in shares)		12,562,000				0
Issuance of Series A Preferred and detachable warrants	796.6	$ 0	796.6	0	0	$ 0	0
Series A Preferred Stock									172.6
Exercise of warrants - share settled	0	$ 0	0	0	0	$ 0	0		0
Exercise of warrants - share settled (in shares)		11,336,856				0
Series A Preferred Stock dividends
Dividends declared or accrued	(72.6)	$ 0	0	(72.6)	0	$ 0	0		0
Dividends in excess of retained earnings	0	0	(68.8)	68.8	0	0	0		0
Deemed dividends - accretion of beneficial conversion feature	(18.2)	0	(18.2)	0	0	0	0		18.2
Common stock dividends
Dividends declared	(513.7)	0	0	(513.7)	0	0	0		0
Dividends in excess of retained earnings	0	0	(490.6)	490.6	0	0	0		0
Distributions to noncontrolling interests	(177)	0	0	0	0	0	(177)		0
Contributions from noncontrolling interests	43.3	0	0	0	0	0	43.3		0
Noncontrolling interests in acquired subsidiaries	(880.1)	$ 0.1	3,183.7	0	55.8	$ 0	(4,119.7)		$ 0
Acquisition of TRP noncontrolling common interests, net of acquisition costs and deferred income taxes (in shares)		104,526,000				0			0
Common stock issued in ATLS merger	(2,316.6)	$ 0.1	1,803				(4,119.7)	[1]
Purchase of noncontrolling interests in subsidiary, net of tax impact	(47.6)	0	54.6	0	0	$ 0	(102.2)		$ 0
Other comprehensive income (loss)	(87.3)	0	0	0	(99.8)	0	12.5		0
Net income (loss)	(159.1)	0	0	(187.3)	0	0	28.2		0
Balance at Dec. 31, 2016	$ 5,724.4	$ 0.2	$ 5,506.2	$ (187.3)	$ (38.3)	$ (32.2)	$ 475.8
Balance (in shares) at Dec. 31, 2016		184,721,000				514,000
Series A Preferred Stock at Dec. 31, 2016									$ 190.8
[1]	Reflects the February 17, 2016 book value of the publicly held interests in TRP.

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities
Net income (loss)	$ (159.1)	$ (151.4)	$ 423
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Amortization in interest expense	14.9	15.3	11.8
Compensation on equity grants	29.7	25	14.3
Depreciation and amortization expense	757.7	677.1	351
Goodwill impairment	207	290	0
Accretion of asset retirement obligations	4.6	5.3	4.5
Increase (decrease) in redemption value of mandatorily redeemable preferred interests	(15.2)	(30.6)
Deferred income tax expense (benefit)	(37.8)	24.6	(4.4)
Equity (earnings) loss of unconsolidated affiliates	14.3	2.5	(18)
Distributions of earnings received from unconsolidated affiliates	4.1	13.8	18
Risk management activities	38.8	71.1	4.7
(Gain) loss on sale or disposition of assets	6.1	(8)	(4.8)
(Gain) loss from financing activities	48.2	10.1	12.4
Changes in operating assets and liabilities, net of business acquisitions:
Receivables and other assets	(235.7)	235.9	90.2
Inventories	(15.9)	41.4	(36.2)
Accounts payable and other liabilities	175.7	(187.4)	(104.7)
Net cash provided by operating activities	837.4	1,034.7	761.8
Cash flows from investing activities
Outlays for property, plant and equipment	(562.1)	(817.2)	(762.2)
Outlays for business acquisitions, net of cash acquired		(1,574.4)
Investments in unconsolidated affiliates	(4.4)	(11.7)
Return of capital from unconsolidated affiliates	4.1	1.2	5.7
Other, net	3.8	2.5	5.1
Net cash used in investing activities	(558.6)	(2,399.6)	(751.4)
Debt obligations:
Proceeds from borrowings under credit facilities	2,322	2,488	2,492
Repayments of credit facilities	(2,617)	(1,870)	(2,328.8)
Proceeds from borrowings under accounts receivable securitization facility	171.4	391.6	381.9
Repayments of accounts receivable securitization facility	(115.7)	(355.1)	(478.8)
Proceeds from issuance of senior notes and term loan	1,000	2,122.5
Redemption of senior notes and term loan	(1,852.2)	(284.3)
Redemption of TPL senior notes	13.3	1,168.8
Proceeds from issuance of common stock	577.3	336.8
Proceeds from issuance of preferred stock and warrants	994.1
Proceeds from sale of Partnership common and preferred units		443.6	412.7
Costs incurred in connection with financing arrangements	(71.4)	(54.3)	(14.3)
Repurchase of shares and units under compensation plans	(3.6)	(8.8)	(7.4)
Purchase of noncontrolling interests in subsidiary	(37.2)
Contributions from noncontrolling interests	43.3	78.4
Distributions to noncontrolling interests	(26.7)	(14.4)
Distributions to Partnership unitholders	(150.3)	(500.4)	(339.8)
Dividends paid to common and preferred shareholders	(565.9)	(179)	(113)
Payments of distribution equivalent rights	(0.3)	(2.8)	(1.6)
Excess tax benefit from stock-based awards		1.1	1
Net cash provided by (used in) financing activities	(345.5)	1,424.1	3.9
Net change in cash and cash equivalents	(66.7)	59.2	14.3
Cash and cash equivalents, beginning of period	140.2	81	66.7
Cash and cash equivalents, end of period	$ 73.5	$ 140.2	$ 81

Organization and Operations

Organization and Operations	12 Months Ended
	Dec. 31, 2016
Organization [Abstract]
Organization and Operations	Note 1 — Organization and Operations Our Organization Targa Resources Corp. (“TRC”) is a publicly traded Delaware corporation formed in October 2005. Our common stock is listed on the New York Stock Exchange under the symbol “TRGP.” In this Annual Report, unless the context requires otherwise, references to “we,” “us,” “our,” “the Company” or “Targa” are intended to mean our consolidated business and operations. Our Operations The Company is engaged in the business of: • gathering, compressing, treating, processing and selling natural gas; • storing, fractionating, treating, transporting and selling NGLs and NGL products, including services to LPG exporters; • gathering, storing and terminaling crude oil; and • storing, terminaling and selling refined petroleum products. See Note 26 – Segment Information for certain financial information regarding our business segments.

Basis of Presentation

Basis of Presentation	12 Months Ended
	Dec. 31, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	Note 2 — Basis of Presentation These accompanying financial statements and related notes present our consolidated financial position as of December 31, 2016 and 2015, and the results of operations, comprehensive income, cash flows, and changes in owners’ equity for the years ended December 31, 2016, 2015 and 2014. We have prepared these consolidated financial statements in accordance with GAAP. 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. One of our indirect subsidiaries is the sole general partner of Targa Resources Partners LP (“the Partnership” or “TRP”). Prior to February 17, 2016, our interests in the Partnership consisted 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”); • 16,309,594 common units representing limited partner interests in the Partnership (“common units”), representing an 8.8% limited partnership interest; and • a Special GP Interest representing retained tax benefits related to the contribution to the Partnership from us of the APL general partner interest acquired in the ATLS merger (as defined in Note 4 – Business Acquisitions). On February 17, 2016, we completed the transactions contemplated by the Agreement and Plan of Merger (the “TRC/TRP Merger Agreement”), and such transaction, the “TRC/TRP Merger”, dated November 2, 2015, by and among us, the general partner of TRP, TRC and Spartan Merger Sub LLC, a subsidiary of us (“Merger Sub”) and we acquired indirectly all of the outstanding TRP common units that we and our subsidiaries did not already own. Upon the terms and conditions set forth in the TRC/TRP Merger Agreement, Merger Sub merged with and into TRP, with TRP continuing as the surviving entity and as a subsidiary of TRC. At the effective time of the TRC/TRP Merger, each outstanding TRP common unit not owned by us or our subsidiaries was converted into the right to receive 0.62 shares of our common stock. We issued 104,525,775 shares of our common stock to third-party unitholders of the common units of the Partnership in exchange for all of the 168,590,009 outstanding common units of the Partnership that we previously did not own. No fractional shares were issued in the TRC/TRP Merger, and TRP common unitholders instead received cash in lieu of fractional shares. There were no changes to our other interests in the Partnership. TRP’s 5,000,000 9.0% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (the “Preferred Units”) remain outstanding after the TRC/TRP Merger. The Preferred Units are listed on the NYSE under “NGLS PRA” and are publicly traded. The Preferred Units are reported as noncontrolling interests in our financial statements. As we continued to control the Partnership after the TRC/TRP Merger, the resulting change in our ownership interest was accounted for as an equity transaction, which is reflected in our Consolidated Balance Sheet as a reduction of noncontrolling interests and a corresponding increase in common stock and additional paid in capital. The TRC/TRP Merger was a taxable exchange that resulted in a book/tax difference in the basis of the underlying assets acquired (our investment in TRP). The tax impact is presented as a reduction of additional paid-in capital consistent with the accounting for tax effects of transactions with noncontrolling interests. See Note 23 – Income Taxes. The following table summarizes the financial effects of the TRC/TRP Merger: Common shares Additional paid-in capital Retained earnings Accumulated other comprehensive income (loss) TRC's stockholders' equity Noncontrolling interests (1) Total owners' equity Shares issued for the Merger $ 0.1 $ 1,803.0 $ — $ — $ 1,803.1 $ (4,119.7 ) $ (2,316.6 ) Impact of NCI acquisition on TRC owners' equity — 2,226.7 — 89.9 2,316.6 — 2,316.6 Deferred tax adjustments — (831.0 ) — (34.1 ) (865.1 ) — (865.1 ) Transaction costs, net of tax — (15.0 ) — — (15.0 ) — (15.0 ) Acquisition of TRP noncontrolling common interests $ 0.1 $ 3,183.7 $ — $ 55.8 $ 3,239.6 $ (4,119.7 ) $ (880.1 ) (1) Reflects the February 17, 2016 book value of the publicly held interests in TRP. The equity interests in TRP (which are consolidated in our financial statements) that were owned by the public prior to February 17, 2016 are reflected within “Noncontrolling interests” in our Consolidated Balance Sheets for periods prior to the merger date. The earnings recorded by TRP that were attributed to its common units held by the public prior to February 17, 2016 are reflected within “Net income attributable to noncontrolling interests” in our Consolidated Statements of Operations for periods prior to the merger date. On October 19, 2016, TRP executed the Third Amended and Restated Partnership Agreement of Limited Partnership of Targa Resources Partners LP (the “Third A&R Partnership Agreement”), effective as of December 1, 2016. The Third A&R Partnership Agreement (i) eliminated the incentive distribution rights (“IDRs”) held by the General Partner, and related distribution and allocation provisions, (ii) eliminated the Special GP Interest held by the General Partner, (iii) provided the ability to declare monthly distributions in addition to quarterly distributions, (iv) modified certain provisions relating to distributions from available cash, (v) eliminated the Class B Unit provisions and (vi) made changes to reflect the passage of time and removed provisions that were no longer applicable. In connection with the Third A&R Partnership Agreement, on December 1, 2016, TRP issued to the General Partner (i) 20,380,286 Common Units and 424,590 General Partner Units in exchange for the elimination of the IDRs and (ii) 11,267,485 Common Units and 234,739 General Partner Units in exchange for the elimination of the Special GP Interest. Change in Reportable Segments Concurrent with the TRC/TRP Merger in February 2016, management reevaluated our reportable segments. See “Segment Information” included in Note 26 for a presentation of financial results by reportable segment, which have been recast to reflect our change in reporting segments for all periods presented. Purchase of Versado Membership Interest On October 31, 2016, we executed a Membership Interest Sale and Purchase Agreement with Chevron U.S.A. Inc. to acquire the remaining 37% membership interest in our consolidated subsidiary Versado Gas Processors, L.L.C. (“Versado”). As we continue to control Versado, the change in our ownership interest was accounted for as an equity transaction representing the acquisition of a noncontrolling interest and no gain or loss was recognized in our Consolidated Statements of Operations as a result. See Note 20 – Contingencies. Revisions of Previously Reported Activity in our Consolidated Statements of Comprehensive Income (Loss) During the first quarter of 2016 we concluded that activity related to our commodity hedge contracts was not reported properly in our Consolidated Statements of Comprehensive Income (Loss) during 2015. The errors resulted in misstatements of the statement caption “Change in fair value” and equal offsetting misstatements of the caption “Settlements reclassified to revenues.” Related income tax effects were also misstated. The reported beginning and ending balance sheet values of Accumulated Other Comprehensive Income were unaffected. We concluded that these misstatements were not material to any of the periods affected, as reported “Total Other Comprehensive Income” is unchanged. However, we have revised previous Consolidated Statements of Comprehensive Income (Loss) reported during 2015 to properly reflect changes in fair value and settlements reclassified to revenues. There is no impact on previously reported net income, total comprehensive income, cash flows, financial position or other profitability measures. The following table displays the impact of these revisions to activity reported in our Consolidated Statements of Comprehensive Income (Loss) during the year ended December 31, 2015: Year Ended December 31, 2015 As Reported As Corrected Pre-Tax Related Income Tax After Tax Pre-Tax Related Income Tax After Tax Targa Resources Corp. Commodity hedging contracts: Change in fair value $ 7.4 $ (2.8 ) $ 4.6 $ 11.0 $ (4.2 ) $ 6.8 Settlements reclassified to revenues (5.9 ) 2.2 (3.7 ) (9.5 ) 3.6 (5.9 ) Other comprehensive income (loss) attributable to Targa Resources Corp. 1.5 (0.6 ) 0.9 1.5 (0.6 ) 0.9 Noncontrolling interests Commodity hedging contracts: Change in fair value 73.8 - 73.8 101.7 - 101.7 Settlements reclassified to revenues (48.9 ) - (48.9 ) (76.8 ) - (76.8 ) Other comprehensive income (loss) attributable to noncontrolling interests 24.9 - 24.9 24.9 - 24.9 Total Commodity hedging contracts: Change in fair value 81.2 (2.8 ) 78.4 112.7 (4.2 ) 108.5 Settlements reclassified to revenues (54.8 ) 2.2 (52.6 ) (86.3 ) 3.6 (82.7 ) Other comprehensive income (loss) $ 26.4 $ (0.6 ) $ 25.8 $ 26.4 $ (0.6 ) $ 25.8

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Significant Accounting Policies	Note 3 — Significant Accounting Policies Consolidation Policy Our consolidated financial statements include our accounts and those of our subsidiaries in which we have a controlling interest. We hold varying undivided interests in various gas processing facilities in which we are responsible for our proportionate share of the costs and expenses of the facilities. Our consolidated financial statements reflect our proportionate share of the revenues, expenses, assets and liabilities of these undivided interests. We follow the equity method of accounting when we do not exercise control over the investee, but we can exercise significant influence over the operating and financial policies of the investee. Under this method, our equity investments are carried originally at our acquisition cost, increased by our proportionate share of the investee’s net income and by contributions made, and decreased by our proportionate share of the investee’s net losses and by distributions received. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in these financial statements and accompanying notes. Estimates and judgments are based on information available at the time such estimates and judgments are made. Adjustments made with respect to the use of these estimates and judgments often relate to information not previously available. Uncertainties with respect to such estimates and judgments are inherent in the preparation of financial statements. Estimates and judgments are used in, among other things, (1) estimating unbilled revenues, product purchases and operating and general and administrative costs, (2) developing fair value assumptions, including estimates of future cash flows and discount rates, (3) analyzing goodwill and long-lived assets for possible impairment, (4) estimating the useful lives of assets, (5) determining amounts to accrue for contingencies, guarantees and indemnifications and (6) estimating redemption value of mandatorily redeemable preferred interests. Actual results, therefore, could differ materially from estimated amounts. Cash and Cash Equivalents Cash and cash equivalents include all cash on hand, demand deposits, and investments with original maturities of three months or less. We consider cash equivalents to include short-term, highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value. Checks outstanding at the end of a period are reclassified to accounts payable, as we extinguish liabilities when the creditor receives our payment and we are relieved of our obligation (which generally occurs when our bank honors that check). Comprehensive Income Comprehensive income includes net income and other comprehensive income (“OCI”), which includes changes in the fair value of derivative instruments that are designated as cash flow hedges. Allowance for Doubtful Accounts Estimated losses on accounts receivable are provided through an allowance for doubtful accounts. In evaluating the adequacy of the allowance, we make judgments regarding each party’s ability to make required payments, economic events and other factors. As the financial condition of any party changes, circumstances develop or additional information becomes available, adjustments to an allowance for doubtful accounts may be required. Inventories Our inventories consist primarily of NGL product inventories. Most NGL product inventories turn over monthly, but some inventory, primarily propane, is acquired and held during the year to meet anticipated heating season requirements of our customers. NGL product inventories are valued at the lower of cost or market using the average cost method. Commodity inventories that are not physically or contractually available for sale under normal operations (“deadstock”) are classified as Property, Plant and Equipment. Inventories also include materials and supplies required for our Badlands expansion activities in North Dakota, which are valued at cost using the specific identification method. Product Exchanges Exchanges of NGL products are executed to satisfy timing and logistical needs of the exchange parties. Volumes received and delivered under exchange agreements are recorded as inventory. If the locations of receipt and delivery are in different markets, an exchange differential may be billed or owed. The exchange differential is recorded as either accounts receivable or accrued liabilities. Gas Processing Imbalances Quantities of natural gas and/or NGLs over-delivered or under-delivered related to certain gas plant operational balancing agreements are recorded monthly as inventory or as a payable using the weighted average price at the time the imbalance was created. Inventory imbalances receivable are valued at the lower of cost or market using the average cost method; inventory imbalances payable are valued at replacement cost. These imbalances are settled either by current cash-out settlements or by adjusting future receipts or deliveries of natural gas or NGLs. Derivative Instruments We utilize derivative instruments to manage the volatility of cash flows due to fluctuating energy prices and interest rates. All derivative instruments not qualifying for the normal purchase and normal sale exception are recorded on the balance sheets at fair value. The treatment of the periodic changes in fair value will depend on whether the derivative is designated and effective as a hedge for accounting purposes. We have designated certain liquids marketing contracts that meet the definition of a derivative as normal purchases and normal sales, which under GAAP, are not accounted for as derivatives. As a result, the revenues and expenses associated with such contracts are recognized during the period when volumes are physically delivered or received. If a derivative qualifies for hedge accounting and is designated as a cash flow hedge, the effective portion of the change in fair value of the derivative is deferred in Accumulated Other Comprehensive Income (“AOCI”), a component of owners’ equity, and reclassified to earnings when the forecasted transaction occurs. Cash flows from a derivative instrument designated as a hedge are classified in the same category as the cash flows from the item being hedged. As such, we include the cash flows from commodity derivative instruments in revenues and from interest rate derivative instruments in interest expense. If a derivative does not qualify as a hedge or is not designated as a hedge, the gain or loss resulting from the change in fair value on the derivative is recognized currently in earnings as a component of revenues. We formally document all relationships between hedging instruments and hedged items, as well as its risk management objectives and strategy for undertaking the hedge. This documentation includes the specific identification of the hedging instrument and the hedged item, the nature of the risk being hedged and the manner in which the hedging instrument’s effectiveness will be assessed. At the inception of the hedge, and on an ongoing basis, we assess whether the derivatives used in hedging transactions are highly effective in offsetting changes in cash flows of hedged items. The relationship between the hedging instrument and the hedged item must be highly effective in achieving the offset of changes in cash flows attributable to the hedged risk both at the inception of the contract and on an ongoing basis. We measure hedge ineffectiveness on a quarterly basis and reclassify any ineffective portion of the gain or loss related to the change in fair value to earnings in the current period. We will discontinue hedge accounting on a prospective basis when a hedge instrument is terminated or ceases to be highly effective. Gains and losses deferred in AOCI related to cash flow hedges for which hedge accounting has been discontinued remain deferred until the forecasted transaction occurs. If it is no longer probable that a hedged forecasted transaction will occur, deferred gains or losses on the hedging instrument are reclassified to earnings immediately. For balance sheet classification purposes, we analyze the fair values of the derivative instruments on a contract by contract basis and report the related fair values and any related collateral by counterparty on a gross basis. Property, Plant and Equipment Property, plant and equipment are stated at acquisition value less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Expenditures for maintenance and repairs are expensed as incurred. Expenditures to refurbish assets that extend the useful lives or prevent environmental contamination are capitalized and depreciated over the remaining useful life of the asset or major asset component. We also capitalize certain costs directly related to the construction of assets, including internal labor costs, interest and engineering costs. The determination of the useful lives of property, plant and equipment requires us to make various assumptions, including the supply of and demand for hydrocarbons in the markets served by our assets, normal wear and tear of the facilities, and the extent and frequency of maintenance programs. We evaluate the recoverability of our property, plant and equipment when events or circumstances such as economic obsolescence, the business climate, legal and other factors indicate we may not recover the carrying amount of the assets. Asset recoverability is measured by comparing the carrying value of the asset (asset group) with the asset’s (asset group’s) expected future pre-tax undiscounted cash flows. These cash flow estimates require us to make projections and assumptions for many years into the future for pricing, demand, competition, operating cost and other factors. If the carrying amount exceeds the expected future undiscounted cash flows we recognize increased depreciation expense equal to the excess of net book value over fair value as determined by quoted market prices in active markets or present value techniques if quotes are unavailable. The determination of the fair value using present value techniques requires us to make projections and assumptions regarding the probability of a range of outcomes and the rates of interest used in the present value calculations. Any changes we make to these projections and assumptions could result in significant revisions to our evaluation of recoverability of our property, plant and equipment and the recognition of additional depreciation expense due to impairment. Upon disposition or retirement of property, plant and equipment, any gain or loss is recorded to operations. Goodwill Goodwill is a residual intangible asset that results when the cost of an acquisition exceeds the fair value of the net identifiable assets of the acquired business. Goodwill is not amortized, but is assessed annually to determine whether its carrying value has been impaired. Goodwill must be assigned to reporting units for the purpose of impairment testing. A reporting unit is an operating segment or one level below an operating segment (also known as a component). Our annual goodwill impairment test is performed as of November 30, as well as whenever events or changes in circumstances indicate it is more likely than not that the fair value of the reporting unit is less than the carrying amount. Prior to us conducting the goodwill impairment test, to the extent triggering events exist, we complete a review of the carrying values of our long-lived assets, including property, plant and equipment and other intangible assets, and if it is determined that the carrying values are not recoverable, we reduce the carrying values of the long-lived assets pursuant to our policy on property, plant and equipment. The annual goodwill impairment test typically entails performing a two-step goodwill impairment test. However, we are permitted to first assess qualitative factors to determine if the two-step goodwill impairment test is necessary. If we choose to bypass this qualitative assessment or otherwise determine that a two-step goodwill impairment test is required, the first step involves comparing the estimated fair value of the reporting unit to its carrying amount, including goodwill. If the carrying amount of a reporting unit exceeds its fair value, the second step is required and involves comparing the implied fair value of goodwill to the carrying value of goodwill for that reporting unit. The implied fair value of goodwill is determined by assigning the reporting unit’s fair value to its individual assets and liabilities. If the carrying value of goodwill assigned to a reporting unit exceeds the implied fair value of that goodwill, the excess of the carrying value over the implied fair value is recognized as a goodwill impairment loss on our Consolidated Statements of Operations and a corresponding reduction of goodwill on our Consolidated Balance Sheets. Intangible Assets Intangible assets arose from producer dedications under long-term contracts and customer relationships associated with business acquisitions. The fair value of these acquired intangible assets was determined at the date of acquisition based on the present value of estimated future cash flows. Amortization expense attributable to these assets is recorded on a straight-line basis or, where more appropriate, in a manner that closely resembles the expected pattern in which we benefit from services provided to customers. Asset Retirement Obligations We record the fair value of estimated asset retirement obligations (“AROs”) associated with tangible long-lived assets. Retirement obligations associated with long-lived assets are recognized for those for which there is a legal obligation to settle under existing or enacted law, statute, written or oral contract or by legal construction. These obligations, which are estimated based on discounted cash flow estimates, are accreted to full value over time as a period cost. In addition, asset retirement costs are capitalized as part of the related asset’s carrying value and are depreciated over the asset’s respective useful life. At least annually, we review the projected timing and amount of asset retirement obligations. Changes resulting from revisions to the timing or the amount of the undiscounted cash flows are recognized as an increase or decrease in the carrying amount of the retirement obligation and the related asset retirement cost capitalized as part of the carrying amount of the related long-lived asset. Upon settlement, any difference between the recorded amount and the actual settlement cost will be recognized at a gain or loss. Debt Issuance Costs Costs incurred in connection with the issuance of long-term debt are deferred and charged to interest expense over the term of the related debt. Debt issuance costs related to revolving credit facilities are presented as other long-term assets and debt issuance costs related to other long-term debt are reflected as a deduction from the carrying amount of other long-term debt in the Consolidated Balance Sheets. Accounts Receivable Securitization Facility Proceeds from the sale or contribution of certain receivables under the Partnership’s accounts receivable securitization facility (the “Securitization Facility”) are treated as collateralized borrowings in our financial statements. Proceeds and repayments under the Securitization Facility are reflected as cash flows from financing activities on our Consolidated Statements of Cash Flows. Environmental Liabilities and Other Loss Contingencies Liabilities for loss contingencies, including environmental remediation costs arising from claims, assessments, litigation, fines, penalties and other sources are charged to expense when it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Income Taxes We account for income taxes using the asset and liability method of accounting for deferred income taxes and provide deferred income taxes for all significant temporary differences. As part of the process of preparing our consolidated financial statements, we are required to estimate our income taxes in each of the jurisdictions in which we operate. This process involves estimating our actual current tax payable and related tax expense together with assessing temporary differences resulting from differing treatment of certain items, such as depreciation, for tax and accounting purposes. These differences can result in deferred tax assets and liabilities, which are included within our Consolidated Balance Sheets. We must then assess the likelihood that our deferred tax assets will be recovered from future taxable income and, to the extent we believe that it is more likely than not (a likelihood of more than 50%) that some portion or all of the deferred tax assets will not be realized, we establish a valuation allowance. Any change in the valuation allowance would impact our income tax provision and net income in the period in which such a determination is made. We consider all available evidence, both positive and negative, to determine whether, based on the weight of the evidence, a valuation allowance is needed. Evidence used includes information about our current financial position and our results of operations for the current and preceding years, as well as all currently available information about future years, including our anticipated future performance, the reversal of deferred tax liabilities and tax planning strategies. We believe future sources of taxable income, reversing temporary differences and other tax planning strategies will be sufficient to realize deferred tax assets, and therefore no valuation allowance has been established. Noncontrolling Interests Third-party ownership (other than mandatorily redeemable interests) in the net assets of our consolidated subsidiaries is shown as noncontrolling interests within the equity section of the Consolidated Balance Sheets. In the Consolidated Statements of Operations and Consolidated Statements of Comprehensive Income, noncontrolling interests reflects the attribution of results to third-party investors. Mandatorily Redeemable Preferred Interests Mandatorily redeemable preferred interests are included in other long term liabilities (or assets) on our Consolidated Balance Sheets. Mandatorily redeemable preferred interests with multiple or indeterminate redemption dates are reported at their estimated redemption value as of the reporting date. This point-in-time value does not represent the amount that ultimately would become payable (or receivable) in the future when the interests are redeemed. Changes in the redemption value are recorded in interest expense, net on our Consolidated Statements of Operations. Revenue Recognition Our operating revenues are primarily derived from the following activities: • sales of natural gas, NGLs, condensate, crude oil and petroleum products; • services related to compressing, gathering, treating, and processing of natural gas; and • services related to NGL fractionation, terminaling and storage, transportation and treating. We recognize revenues when all of the following criteria are met: (1) persuasive evidence of an exchange arrangement exists, if applicable, (2) delivery has occurred or services have been rendered, (3) the price is fixed or determinable and (4) collectability is reasonably assured. For natural gas processing activities, we receive either fees and/or a percentage of proceeds from commodity sales as payment for these services, depending on the type of contract. Under fee-based contracts, we receive a fee based on throughput volumes. Under percent-of-proceeds contracts, we receive either an agreed upon percentage of the actual proceeds we receive from our sales of the residue natural gas and NGLs or an agreed upon percentage based on index related prices for the natural gas and NGLs. Typically, our percent-of-proceeds contracts also include a fee-based component. We generally report sales revenues gross in our Consolidated Statements of Operations, as we typically act as the principal in the transactions where we receive commodities, take title to the natural gas and NGLs, and incur the risks and rewards of ownership. However, buy-sell transactions that involve purchases and sales of inventory with the same counterparty that are legally contingent or in contemplation of one another are reported as a single transaction on a combined net basis. We have certain long-term contractual arrangements under which we have received consideration, but which require future performance by Targa. These arrangements result in deferred revenue, which will be recognized as revenue during the periods that services will be provided. Deferred revenue is included in Other long-term liabilities on our Consolidated Balance Sheets. Share-Based Compensation We award share-based compensation to employees, directors and non-management directors in the form of restricted stock, restricted stock units, stock options and performance units. Compensation expense on restricted common units and performance unit awards that qualify as equity arrangements are measured by the fair value of the award as determined at the date of grant. Compensation expense on performance unit awards that qualify as liability arrangements is initially measured by the fair value of the award at the date of grant, and re-measured subsequently at each reporting date through the settlement period. Compensation expense is recognized in general and administrative expense over the requisite service period of each award. We may withhold shares to satisfy employees’ tax withholding obligations on vested awards. The withheld shares are recorded by us in treasury stock at cost. Earnings per Share We account for earnings per share (“EPS”) in accordance with Accounting Standards Codification (“ASC”) Topic 260 – Earnings per Share. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock so long as it does not have an anti-dilutive effect on EPS. The dilutive effect is determined through the application of the treasury method. Securities that meet the definition of a participating security are required to be considered for inclusion in the computation of basic EPS. Recent Accounting Pronouncements Revenue from Contracts with Customers In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) Revenue Recognition Other Assets and Deferred Costs – Contracts with Customers With the issuance in August 2015 of ASU 2015-14 , Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, In March 2016, the FASB issued ASU 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations In April 2016, the FASB issued ASU 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing In May 2016, the FASB issued ASU 2016-12, Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients In December 2016, the FASB issued ASU 2016-20, Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers We expect to adopt this new revenue recognition standard on January 1, 2018, presenting a cumulative effect adjustment in the period the standard is adopted. We also anticipate electing the practical expedient to apply the guidance retrospectively to only those contracts that are not completed contracts at the date of initial application. We are continuing to evaluate the effect of the standard on our , including accounting associated with contracts containing noncash consideration and variable consideration, the effect of ASU 2016-20 on our disclosure requirements, and how the standard would impact our current revenue recognition and disclosure policies upon adoption. Consolidation In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis Presentation of Debt Issuance Costs In April 2015, the FASB issued ASU 2015-03, Interest – Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs Leases In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) We expect to adopt the amendments in the first quarter of 2019 and are currently evaluating the impacts of the amendments to our consolidated financial statements and accounting practices for leases. Share-Based Compensation In March 2016, the FASB issued ASU 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting We adopted the applicable amendments in the second quarter of 2016 and have applied the guidance as of January 1, 2016. Amendments related to the timing of when excess tax benefits and deficiencies are recognized, minimum statutory withholding requirements, and forfeitures have been applied using a modified retrospective transition method but resulted in no cumulative effect adjustment to equity. The amendment related to the presentation of employee taxes paid on the statement of cash flows when an employer withholds shares to meet the minimum statutory withholding requirement had no impact as we previously classified these payments as a financing activity and continue to do so. The amendment requiring recognition of excess tax benefits and tax deficiencies in the income statement has been applied prospectively. We have elected to apply the amendment related to the presentation of excess tax benefits and deficiencies on the statement of cash flows on a prospective basis and prior periods have not been adjusted. We recognized $0.5 million of excess tax deficiencies in income tax expense for the year ended December 31, 2016. Our diluted earnings per share calculation has been adjusted for the year ended December 31, 2016, to exclude windfall tax benefits in assumed proceeds under the treasury stock method. In addition, we have elected to account for forfeitures as they occur. Measurement of Credit Losses on Financial Instruments In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. Cash Flow Classification In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force) Recognition of Intra-Entity Transfers of Assets Other than Inventory In October 2016, the FASB issued ASU 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other than Inventory Business Combinations In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business Goodwill Impairment In January 2017, FASB issued ASU 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment

Business Acquisitions

Business Acquisitions	12 Months Ended
	Dec. 31, 2016
Business Combinations [Abstract]
Business Acquisitions	Note 4 – Business Acquisitions 2015 Acquisition Atlas Mergers On February 27, 2015, Targa completed the transactions contemplated by the Agreement and Plan of Merger, dated as of October 13, 2014 (the “ATLS Merger Agreement”), by and among (i) Targa, Targa GP Merger Sub LLC, a Delaware limited liability company and a wholly-owned subsidiary of Targa (“GP Merger Sub”), Atlas Energy L.P., a Delaware limited partnership (“ATLS”) and Atlas Energy GP, LLC, a Delaware limited liability company and the general partner of ATLS (“ATLS GP”), and (ii) Targa and the Partnership completed the transactions contemplated by the Agreement and Plan of Merger (the “APL Merger Agreement” and, together with the ATLS Merger Agreement, the “Atlas Merger Agreements”) by and among Targa, the Partnership, the Partnership’s general partner, Trident MLP Merger Sub LLC, a Delaware limited liability company and a wholly-owned subsidiary of the Partnership (“MLP Merger Sub”), ATLS, Atlas Pipeline Partners L.P., a Delaware limited partnership (“APL”) and Atlas Pipeline Partners GP, LLC, a Delaware limited liability company and the general partner of APL (“APL GP”). Pursuant to the terms and conditions set forth in the ATLS Merger Agreement, GP Merger Sub merged (the “ATLS merger”) with and into ATLS, with ATLS continuing as the surviving entity and as a subsidiary of Targa. Pursuant to the terms and conditions set forth in the APL Merger Agreement, MLP Merger Sub merged (the “APL merger” and, together with the ATLS merger, the “Atlas mergers”) with and into APL, with APL continuing as the surviving entity and as a subsidiary of the Partnership. While the Atlas mergers were two separate legal transactions, for GAAP reporting purposes, they are viewed as a single integrated transaction. In connection with the Atlas mergers, APL changed its name to “Targa Pipeline Partners LP,” which we refer to as TPL, and ATLS changed its name to “Targa Energy LP.” In addition, prior to the completion of the Atlas mergers, ATLS, pursuant to a separation and distribution agreement entered into by and among ATLS, ATLS GP and Atlas Energy Group, LLC, a Delaware limited liability company (“AEG”), on February 27, 2015, (i) transferred its assets and liabilities other than those related to its “Atlas Pipeline Partners” segment, to AEG and (ii) effected a pro rata distribution to the ATLS unitholders of AEG common units representing a 100% interest in AEG (collectively, the “Spin-Off” and, together with the Atlas mergers, the “Atlas Transactions”). On February 27, 2015, the Partnership’s partnership agreement (the “Partnership Agreement’) was amended to provide for the issuance of the Special GP Interest representing the contribution to the Partnership of the APL GP interest acquired in the ATLS merger totaling $1.6 billion, which is reflected within Additional paid-in capital on the Consolidated Balance Sheets. The Special GP Interest is not entitled to current distributions or allocations of net income or loss, and has no voting rights or other rights except for the limited right to receive deductions attributable to the contribution of APL GP and the right to distributions in liquidation. On December 1, 2016, the Special GP Interest was eliminated with an amendment to the Partnership Agreement. See Note 14 – Partnership Units and Related Matters. The Partnership acquired all of the outstanding units of APL for a total purchase price of approximately $5.3 billion (including $1.8 billion of acquired debt and all other assumed liabilities). Of the $1.8 billion of debt acquired and other liabilities assumed, approximately $1.2 billion of the acquired debt was tendered and settled upon the closing of the Atlas mergers via the Partnership’s January 2015 cash tender offers. These tender offers were in connection with, and conditioned upon, the consummation of the merger with APL. The merger with APL, however, was not conditioned on the consummation of the tender offers. On that same date, we acquired ATLS for a total purchase price of approximately $1.6 billion (including all assumed liabilities). Pursuant to the APL Merger Agreement, Targa agreed to cause the general partner of the Partnership to amend the Partnership Agreement, which we refer to as the “IDR Giveback Amendment”, in order to reduce aggregate distributions to us, as the holder of the Partnership’s IDRs, by (a) $9,375,000 per quarter during the first four quarters following the APL merger, (b) $6,250,000 per quarter for the next four quarters, (c) $2,500,000 per quarter for the next four quarters and (d) $1,250,000 per quarter for the next four quarters, with the amount of such reductions to be distributed pro rata to the holders of the Partnership’s outstanding common units. On December 1, 2016, the IDRs were eliminated with an amendment to the Partnership Agreement (see Note 14 – Partnership Units and Related Matters) and the reallocations of IDRs under the IDR Giveback Amendment ceased in the fourth quarter of 2016. TPL is a provider of natural gas gathering, processing and treating services primarily in the Anadarko, Arkoma and Permian Basins located in the southwestern and mid-continent regions of the United States and in the Eagle Ford Shale in South Texas. The Atlas mergers added TPL’s Woodford/SCOOP, Mississippi Lime, Eagle Ford and additional Permian assets to the Partnership’s existing operations. In total, TPL added 2,053 MMcf/d of processing capacity and 12,220 miles of additional pipeline. The operating results of TPL are reported in our Gathering and Processing segment. The APL merger was a unit-for-unit transaction with an exchange ratio of 0.5846 of the Partnership’s common units (the “APL Unit Consideration”) and $1.26 in cash for each APL common unit (the “APL Cash Consideration” and, with the APL Unit Consideration, the “APL Merger Consideration”), a $128.0 million total cash payment, of which $0.6 million was expensed at the acquisition date as the cash payment representing accelerated vesting of a portion of retained employees’ APL phantom awards. The Partnership issued 58,614,157 of its common units and awarded 629,231 replacement phantom unit awards with a combined value of approximately $2.6 billion as consideration for the APL merger (based on the $43.82 closing market price of a common unit on the NYSE on February 27, 2015). The cash component of the APL merger also included $701.4 million for the mandatory repayment and extinguishment at closing of the APL Senior Secured Revolving Credit Facility that was to mature in May 2017 (the “APL Revolver”), $28.8 million of payments related to change of control and $6.4 million of cash paid in lieu of unit issuances in connection with settlement of APL equity awards for AEG employees. In March 2015, we contributed $52.4 million to the Partnership to maintain our 2% general partner interest. In addition, pursuant to the APL Merger Agreement, APL exercised its right under the certificate of designations of the APL 8.25% Class E cumulative redeemable perpetual preferred units (“Class E Preferred Units”) to redeem the APL Class E Preferred Units immediately prior to the effective time of the APL merger. The ATLS merger was a stock-for-unit transaction with an exchange ratio of 0.1809 of Targa common stock, par value $0.001 per share (the “ATLS Stock Consideration”), and $9.12 in cash for each ATLS common unit (the ATLS Cash Consideration” and, with the ATLS Stock Consideration, the “ATLS Merger Consideration”), (a $514.7 million total cash payment). We issued 10,126,532 of our common shares and awarded 81,740 replacement restricted stock units with a combined value of approximately $1.0 billion for the ATLS merger (based on the $99.58 closing market price of a TRC common share on the NYSE on February 27, 2015). The cash component of the ATLS merger also included approximately $149.2 million of payments related to change of control and cash settlements of equity awards, $88.0 million for repayment of a portion of ATLS outstanding indebtedness and $11.0 million for reimbursement of certain transaction expenses. Approximately $4.5 million of the one-time cash payments and cash settlements of equity awards, which represent accelerated vesting of a portion of retained employees’ ATLS phantom units, were expensed at the acquisition date. ATLS owned, directly and indirectly, 5,754,253 APL common units immediately prior to closing. Our acquisition of ATLS resulted in us acquiring these common units (converted to 3,363,935 Partnership common units) valued at approximately $147.4 million (based on the $43.82 closing market price of a Partnership common unit on the NYSE on February 27, 2015) and the right to receive the units’ one-time cash payment of approximately $7.3 million, which reduced the consolidated purchase price by approximately $154.7 million. All outstanding ATLS equity awards, whether vested or unvested, were adjusted in connection with the Spin-Off on the terms and conditions set forth in an Employee Matters Agreement entered into by ATLS, ATLS GP and AEG on February 27, 2015. Following the Spin-Off-related adjustment and at the effective time of the ATLS merger, each outstanding ATLS option and ATLS phantom unit award, whether vested or unvested, held by a person who became an employee of AEG became fully vested (to the extent not vested) and was cancelled and converted into the right to receive the ATLS Merger Consideration in respect of each ATLS common unit underlying the ATLS option or phantom unit award (in the case of options, net of the applicable exercise price). Each outstanding vested ATLS option held by an employee of APL who became an employee of the Company in connection with the Atlas Transactions (a “Midstream Employee”) was cancelled and converted into the right to receive the ATLS Merger Consideration in respect of each ATLS common unit underlying the vested ATLS option, net of the applicable exercise price. Each outstanding unvested ATLS option and each outstanding ATLS phantom unit award held by a Midstream Employee was cancelled and converted into the right to receive (1) the ATLS Cash Consideration in respect of each ATLS common unit underlying such ATLS option or phantom unit award and (2) a TRC restricted stock unit award with respect to a number of shares of TRC Common Stock equal to the product of the ATLS Stock Consideration multiplied by the number of ATLS common units underlying such ATLS option or phantom unit award (in the case of options, net of the applicable exercise price). In connection with the APL merger, each outstanding APL phantom unit award held by an employee of AEG became fully vested and was cancelled and converted into the right to receive the APL Merger Consideration in respect of each APL common unit underlying the APL phantom unit award. Each outstanding APL phantom unit award held by a Midstream Employee was cancelled and converted into the right to receive (1) the APL Cash Consideration in respect of each APL common unit underlying such APL phantom unit award and (2) a Partnership phantom unit award with respect to a number of the Partnership’s common units equal to the product of the APL Unit Consideration multiplied by the number of APL common units underlying such APL phantom unit award. The acquired business contributed revenues of $1,459.3 million and a net loss of $30.1 million to the Company for the period from February 27, 2015 to December 31, 2015, and is reported in our Gathering and Processing segment. Cumulative acquisition-related costs totaled $27.3 million. These expenses are included in other expense in our Consolidated Statements of Operations. Pro Forma Impact of Atlas Mergers on Consolidated Statement of Operations The following summarized unaudited pro forma Consolidated Statement of Operations information for the year ended December 31, 2015 assumes that the Partnership’s acquisition of APL and our acquisition of ATLS had occurred as of January 1, 2014. We prepared the following summarized unaudited pro forma financial results for comparative purposes only. The summarized unaudited pro forma financial results may not be indicative of the results that would have occurred if we had completed these acquisitions as of January 1, 2014, or that the results that will be attained in the future. Amounts presented below are in millions. December 31, 2015 Pro Forma Revenues $ 6,947.3 Net income (169.6 ) The pro forma consolidated results of operations amounts have been calculated after applying our accounting policies, and making adjustments to: • Reflect the change in amortization expense resulting from the difference between the historical balances of APL’s intangible assets, net, and the fair value of intangible assets acquired. • Reflect the change in depreciation expense resulting from the difference between the historical balances of APL’s property, plant and equipment, net, and the fair value of property, plant and equipment acquired. • Reflect the change in interest expense resulting from our financing activities directly related to the Atlas mergers as compared to APL’s historical interest expense. • Reflect the changes in stock-based compensation expense related to the fair value of the unvested portion of replacement Partnership Long Term Incentive Plan (“LTIP”) awards that were issued in connection with the acquisition to APL phantom unitholders who continue to provide service as Targa employees following the completion of the APL merger. • Remove the results of operations attributable to the February 2015 transfer to Atlas Resource Partners, L.P. of 100% of APL’s interest in gas gathering assets located in the Appalachian Basin of Tennessee. • Exclude $27.3 million of acquisition-related costs incurred as of December 31, 2015 from pro forma net income for the year ended December 31, 2015. • Reflect the change in APL’s revenues and product purchases to report plant sales of Y-grade at contractual net values to conform to our accounting policy. The following table summarizes the consideration transferred to acquire ATLS and APL, which are viewed together as a single integrated transaction for GAAP reporting purposes: Fair Value of Consideration Transferred: Cash paid, net of cash acquired (1): TRC $ 745.7 TRP 828.7 Common shares of TRC 1,008.5 Replacement restricted stock units awarded (2) 5.2 Common units of TRP 2,421.1 Replacement phantom units awarded (2) 15.0 Total $ 5,024.2 (1) Net of cash acquired of $40.8 million. (2) The fair value of consideration transferred in the form of replacement restricted stock unit awards and replacement phantom unit awards represent the allocation of the fair value of the awards to the pre-combination service period. The fair value of the awards associated with the post-combination service period will be recognized over the remaining service period of the award. Our final fair value determination related to the Atlas mergers was as follows: Fair value determination: February 27, 2015 Trade and other current receivables, net $ 181.1 Other current assets 24.4 Assets from risk management activities 102.1 Property, plant and equipment 4,616.9 Investments in unconsolidated affiliates 214.5 Intangible assets 1,354.9 Other long-term assets 5.5 Current liabilities (259.3 ) Long-term debt (1,573.3 ) Deferred income tax liabilities, net (13.6 ) Other long-term liabilities (119.1 ) Total identifiable net assets 4,534.1 Noncontrolling interest in subsidiaries (216.9 ) Goodwill 707.0 Total fair value of consideration transferred $ 5,024.2 The valuation of the acquired assets and liabilities was prepared using fair value methods and assumptions including projections of future production volumes and cash flows, benchmark analysis of comparable public companies, expectations regarding customer contracts and relationships, and other management estimates. The fair value measurements of assets acquired and liabilities assumed are based on inputs that are not observable in the market and therefore represent Level 3 inputs, as defined in Note 16 – Fair Value Measurements. These inputs require significant judgments and estimates at the time of valuation. The excess of the fair value of the consideration transferred over the fair value of net assets acquired was approximately $707.0 million, which was recorded as goodwill. The determination of goodwill is attributable to the workforce of the acquired business and the expected synergies. Goodwill was attributed to the WestTX, SouthTX and SouthOK reporting units in our Gathering and Processing segment. The goodwill is amortizable over 15 years for tax purposes. See Note 7 – Goodwill. The fair value of assets acquired included trade receivables of $178.1 million. The gross amount due under contracts was $178.1 million, all of which was expected to be collectible. The fair value of assets acquired included other receivables of $3.0 million reported in current receivables and $4.5 million reported in other long-term assets related to a contractual settlement with a counterparty. Mandatorily Redeemable Preferred Interests Other long-term liabilities acquired included $109.3 million related to mandatorily redeemable preferred interests held by our partner in two joint ventures. See Note 11 – Other Long-Term Liabilities. Contingent Consideration A liability arising from the contingent consideration for APL’s previous acquisition of a gas gathering system and related assets has been recognized at fair value. APL agreed to pay up to an additional $6.0 million if certain volumes are achieved on the acquired gathering system within a specified time period. The acquisition date fair value of the remaining contingent payment of $4.2 million was recorded within other long term liabilities on our Consolidated Balance Sheets. Subsequent changes in the fair value of this liability are included in earnings. Replacement Restricted Stock Units (“RSUs”) In connection with the ATLS merger, we awarded RSUs in accordance with and as required by the Atlas Merger Agreements to those APL employees who became Targa employees after the acquisition. The vesting dates and terms remained unchanged from the existing ATLS awards, and vest over the remaining terms of the awards, which are either 25% per year over the original four year term or 25% after the third year of the original term and 75% after the fourth year of the original term. Each RSU will entitle the grantee to one common share on the vesting date and is an equity-settled award. The RSUs include dividend equivalents. When we declare and pay cash dividends, the holders of RSUs are entitled within 60 days to receive cash payment of dividend equivalents in an amount equal to the cash dividends the holders would have received if they were the holders of record on the record date of the number of our common shares related to the RSUs. The fair value of the RSUs was based on the closing price of our common shares at the close of trading on February 27, 2015. The fair value was allocated between the pre-acquisition and post-acquisition periods to determine the amount to be treated as purchase consideration and future compensation expense, respectively. Compensation cost will be recognized in general and administrative expense over the remaining service period of each award. See Note 25 – Compensation Plans for discussion of the impact of the TRC/TRP Merger on the replacement RSUs. Replacement Phantom Units In connection with the APL merger, the Partnership awarded replacement phantom units in accordance with and as required by the Atlas Merger Agreements to those APL employees who became Targa employees after the acquisition. The vesting dates and terms remained unchanged from the existing APL awards, and vest over the remaining terms of the awards, which are either 25% per year over the original four year term or 33% per year over the original three year term. Each replacement phantom unit will entitle the grantee to common stock on the vesting date and is an equity-settled award. The replacement phantom units include distribution equivalent rights (“DERs”). When the Partnership declares and pays cash distributions, the holders of replacement phantom units are entitled within 60 days to receive cash payment of DERs in an amount equal to the cash distributions the holders would have received if they were the holders of record on the record date of the number of the Partnership’s common units related to the replacement phantom units. The fair value of the replacement phantom units was based on the closing price of the Partnership’s units at the close of trading on February 27, 2015. The fair value was allocated between the pre-acquisition and post-acquisition periods to determine the amount to be treated as purchase consideration and compensation expense, respectively. Compensation cost will be recognized in general and administrative expense over the remaining service period of each award. See Note 25 – Compensation Plans for discussion of the impact of the TRC/TRP Merger on the replacement phantom units.

Inventories

Inventories	12 Months Ended
	Dec. 31, 2016
Inventory Disclosure [Abstract]
Inventories	Note 5 — Inventories December 31, 2016 December 31, 2015 Commodities $ 126.9 $ 128.3 Materials and supplies 10.8 12.7 $ 137.7 $ 141.0

Property, Plant and Equipment a

Property, Plant and Equipment and Intangible Assets	12 Months Ended
	Dec. 31, 2016
Property Plant And Equipment And Intangible Assets [Abstract]
Property, Plant and Equipment and Intangible Assets	Note 6 — Property, Plant and Equipment and Intangible Assets Property, Plant and Equipment December 31, 2016 December 31, 2015 Estimated Useful Lives (In Years) Gathering systems $ 6,626.8 $ 6,304.5 5 to 20 Processing and fractionation facilities 3,390.2 2,995.2 5 to 25 Terminaling and storage facilities 1,205.0 1,115.0 5 to 25 Transportation assets 451.4 454.0 10 to 25 Other property, plant and equipment 274.2 221.1 3 to 25 Land 121.3 108.8 — Construction in progress 449.8 736.5 — Property, plant and equipment 12,518.7 11,935.1 Accumulated depreciation (2,827.7 ) (2,232.4 ) Property, plant and equipment, net $ 9,691.0 $ 9,702.7 Intangible assets $ 2,036.6 $ 2,036.6 20 Accumulated amortization (382.6 ) (226.5 ) Intangible assets, net $ 1,654.0 $ 1,810.1 For each of the years ended December 31, 2016, 2015, and 2014 depreciation expense for property, plant and equipment was $601.5 million, $540.4 million and $289.5 million. We recorded non-cash pre-tax impairment charges of $32.6 million in 2015 and $3.2 million in 2014 due to the impairment of certain gas processing facilities and gathering systems associated with our Coastal and Big Lake operations. The impairments are a result of reduced forecasted gas processing volumes due to market conditions and processing spreads in Louisiana in the fourth quarter of 2015 and 2014. We measured the impairment of property, plant and equipment using discounted estimated future cash flows representative of a Level 3 fair value measurement. These carrying value adjustments are included in depreciation and amortization expenses on our Consolidated Statements of Operations. Intangible Assets Intangible assets consist of customer contracts and customer relationships acquired in the Atlas mergers in 2015 and our Badlands business acquisition in 2012. The fair values of these acquired intangible assets were determined at the date of acquisition based on the present values of estimated future cash flows. Key valuation assumptions include probability of contracts under negotiation, renewals of existing contracts, economic incentives to retain customers, past and future volumes, current and future capacity of the gathering system, pricing volatility and the discount rate. The fair values of intangible assets acquired in the Atlas mergers were recorded at a fair value of $1,354.9 million and are being amortized over a 20-year life using the straight-line method, as a reliably determinable pattern of amortization could not be identified. Amortization expense attributable to our intangible assets related to the Badlands acquisition is recorded using a method that closely reflects the cash flow pattern underlying their intangible asset valuation over a 20-year life. The changes in our intangible assets are as follows: December 31, 2016 December 31, 2015 Beginning of period $ 1,810.1 $ 591.9 Additions from acquisition — 1,354.9 Amortization (156.1 ) (136.7 ) Intangible assets, net $ 1,654.0 $ 1,810.1 For each of the years ended December 31, 2016, 2015, and 2014 amortization expense for our intangible assets was $156.1 million, $136.7 million and $61.5 million. The estimated annual amortization expense for intangible assets is approximately $149.4 million, $135.7 million, $124.7 million, $112.5 million and $102.6 million for each of the years 2017 through 2021. As of December 31, 2016 the weighted average amortization period for our intangible assets was approximately 17.6 years.

Goodwill

Goodwill	12 Months Ended
	Dec. 31, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill	Note 7 – Goodwill We recognized goodwill of approximately $707.0 million when we acquired Atlas on February 27, 2015. This goodwill was attributed to the WestTX, SouthTX and SouthOK reporting units in our Gathering and Processing segment. The future cash flows and resulting fair values of these reporting units are sensitive to changes in oil, gas and NGL prices. The direct and indirect effects of significant declines in commodity prices from the date of acquisition would likely cause the fair values of these reporting units to fall below their carrying values, and could result in an impairment of goodwill. As described in Note 3 – Significant Accounting Policies, we evaluate goodwill for impairment at least annually on November 30, or more frequently if we believe necessary based on events or changes in circumstances. As of December 31, 2015, we had not completed our November 30, 2015 impairment assessment. Based on the results of that preliminary evaluation, we recorded a provisional goodwill impairment of $290.0 million during the fourth quarter of 2015. The provisional goodwill impairment reduced the carrying value of goodwill to $417.0 million on our Consolidated Balance Sheets as of December 31, 2015. During the first quarter of 2016, we finalized our evaluation of goodwill for impairment and recorded additional impairment expense of $24.0 million in our Consolidated Statement of Operations and reduced the carrying value of goodwill to $393.0 million on our Consolidated Balance Sheets as of March 31, 2016. The impairment of goodwill was primarily due to the effects of lower commodity prices, and a higher cost of capital for companies in our industry compared to conditions in February 2015 when we acquired Atlas. Our annual evaluation of goodwill for impairment was completed in the fourth quarter of 2016 and we recorded impairment expense of $183.0 million in our Consolidated Statement of Operations and reduced the carrying value of goodwill to $210.0 million on our Consolidated Balance Sheets. The additional impairment of goodwill during the fourth quarter of 2016 was primarily due to the impact of lower forecasted commodity prices and a refinement in the valuation methodology used to determine fair values of our reporting units Our annual evaluations utilized an income approach including a terminal value to estimate the fair values of our reporting units based on a discounted cash flow (“DCF”) analysis . The refinement of the valuation methodology reflects . The fair value measurements utilized for the evaluation of goodwill for impairment are based on inputs that are not observable in the market and therefore represent Level 3 inputs, as defined in Note 16 – Fair Value Measurements. These inputs require significant judgments and estimates at the time of valuation. Changes in the gross amounts of our goodwill are as follows: WestTX SouthTX SouthOK Total Balance at January 1, 2015 $ — $ — $ — $ — Acquisition, February 27, 2015 364.5 160.3 182.2 707.0 Provisional impairment for 2015 annual assessment (37.6 ) (70.2 ) (182.2 ) (290.0 ) Balance at December 31, 2015 326.9 90.1 — 417.0 Additional impairment for 2015 annual assessment (14.4 ) (9.6 ) — (24.0 ) Impairment for 2016 annual assessment (137.8 ) (45.2 ) — (183.0 ) Balance at December 31, 2016 $ 174.7 $ 35.3 $ — $ 210.0 Should energy industry conditions deteriorate, there is a possibility that reporting unit fair values could deteriorate further and goodwill may be impaired in a future period. Further, upon our adoption of ASU 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment

Investments in Unconsolidated A

Investments in Unconsolidated Affiliates	12 Months Ended
	Dec. 31, 2016
Equity Method Investments And Joint Ventures [Abstract]
Investments in Unconsolidated Affiliates	Note 8 – Investments in Unconsolidated Affiliates Our unconsolidated investments consist of a 38.8% non-operated ownership interest in Gulf Coast Fractionators LP (“GCF”) and three non-operated joint ventures in South Texas acquired in the Atlas mergers in 2015: 75% interest in T2 LaSalle; 50% interest in T2 Eagle Ford; and 50% interest in T2 EF Cogen (together the “T2 Joint Ventures”). The T2 Joint Ventures were formed to provide services for the benefit of the joint interest owners. The T2 Joint Ventures have capacity lease agreements with the joint interest owners, which cover the costs of operations of the T2 Joint Ventures. The terms of these joint venture agreements do not afford us the degree of control required for consolidating them in our consolidated financial statements, but do afford us the significant influence required to employ the equity method of accounting. Our maximum exposure to loss as a result of our involvement with the T2 Joint Ventures includes our equity investment, any additional capital contribution commitments and our share of any operating expenses incurred by the T2 Joint Ventures. The following table shows the activity related to our investments in unconsolidated affiliates: GCF T2 LaSalle T2 Eagle Ford T2 EF Cogen Total Balance at December 31, 2013 $ 55.9 $ — $ — $ — $ 55.9 Equity earnings (loss) 18.0 — — — 18.0 Cash distributions (1) (23.7 ) — — — (23.7 ) Balance at December 31, 2014 $ 50.2 $ — $ — $ — $ 50.2 Fair value of T2 Joint Ventures acquired — 67.5 126.7 20.3 214.5 Equity earnings (loss) 13.8 (3.9 ) (9.4 ) (3.0 ) (2.5 ) Cash distributions (1) (14.5 ) — — (0.5 ) (15.0 ) Cash calls for expansion projects — — 6.5 5.2 11.7 Balance at December 31, 2015 $ 49.5 $ 63.6 $ 123.8 $ 22.0 $ 258.9 Equity earnings (loss) 4.1 (5.2 ) (9.4 ) (3.8 ) (14.3 ) Cash distributions (1) (7.5 ) — — (0.7 ) (8.2 ) Cash calls for expansion projects — 0.2 4.2 — 4.4 Balance at December 31, 2016 $ 46.1 $ 58.6 $ 118.6 $ 17.5 $ 240.8 (1) Includes $4.1 million and $1.2 million in distributions received from GCF and the T2 Joint Ventures in excess of our share of cumulative earnings for the years ended December 31, 2016 and 2015. Includes $5.7 million in distributions from GCF in excess of our share of cumulative earnings for the year ended December 31, 2014. Such excess distributions are considered a return of capital and disclosed in cash flows from investing activities in the Consolidated Statements of Cash Flows. The recorded value of the T2 Joint Ventures is based on fair values at the date of acquisition which results in an excess fair value of $36.2 million over the book value of the joint venture capital accounts as of December 31, 2016. This basis difference is attributable to depreciable tangible assets and is being amortized over the estimated useful lives of the underlying assets of 20 years on a straight-line basis and is included as a component of equity earnings. See Note 4 - Business Acquisitions for further information regarding the fair value determinations related to the Atlas mergers.

Accounts Payable and Accrued Li

Accounts Payable and Accrued Liabilities	12 Months Ended
	Dec. 31, 2016
Payables And Accruals [Abstract]
Accounts Payable and Accrued Liabilities	Note 9 — Accounts Payable and Accrued Liabilities December 31, 2016 December 31, 2015 Commodities $ 574.4 $ 378.5 Other goods and services 117.0 142.9 Interest 52.3 81.0 Compensation and benefits 37.2 16.0 Income and other taxes 24.2 13.4 Preferred dividends payable 22.9 — Other 15.5 18.6 $ 843.5 $ 650.4 Accounts payable and accrued liabilities includes $30.5 million and $34.2 million of liabilities to creditors to whom we have issued checks that remain outstanding as of December 31, 2016 and December 31, 2015.

Debt Obligations

Debt Obligations	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Debt Obligations	Note 10 — Debt Obligations December 31, 2016 December 31, 2015 Current: Obligations of the Partnership: (1) Accounts receivable securitization facility, due December 2017 $ 275.0 $ 219.3 Long-term: TRC obligations: TRC Senior secured revolving credit facility, variable rate, due February 2020 (2) 275.0 440.0 TRC Senior secured term loan, variable rate, due February 2022 160.0 160.0 Unamortized discount (2.2 ) (2.5 ) Obligations of the Partnership: (1) Senior secured revolving credit facility, variable rate, due October 2020 (3) 150.0 280.0 Senior unsecured notes: 5% fixed rate, due January 2018 250.5 1,100.0 4 ⅛ 749.4 800.0 6 ⅝ — 342.1 Unamortized premium — 5.0 6 ⅞ — 483.6 Unamortized discount — (22.1 ) 6 ⅜ 278.7 300.0 5 ¼ 559.6 583.7 4¼% fixed rate, due November 2023 583.9 623.5 6¾% fixed rate, due March 2024 580.1 600.0 5⅛ % fixed rate, due February 2025 500.0 — 5⅜ % fixed rate, due February 2027 500.0 — TPL notes, 6 ⅝ — 12.9 Unamortized premium — 0.2 TPL notes, 4¾% fixed rate, due November 2021 (4) 6.5 6.5 TPL notes, 5⅞% fixed rate, due August 2023 (4) 48.1 48.1 Unamortized premium 0.5 0.5 4,640.1 5,761.5 Debt issuance costs, net of amortization (34.1 ) (42.7 ) Total long-term debt 4,606.0 5,718.8 Total debt obligations $ 4,881.0 $ 5,938.1 Irrevocable standby letters of credit: Letters of credit outstanding under the TRC Senior secured credit facility (2) $ — $ — Letters of credit outstanding under the Partnership senior secured revolving credit facility (3) 13.2 12.9 $ 13.2 $ 12.9 (1) 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. (2) As of December 31, 2016, availability under TRC’s $670 million senior secured revolving credit facility (“TRC Revolver”) was $395.0 million. (3) As of December 31, 2016, availability under the Partnership’s $1.6 billion senior secured revolving credit facility (“TRP Revolver”) was $1,436.8 million. (4) TPL notes are not guaranteed by us or the Partnership. The following table shows the contractually scheduled maturities of our debt obligations outstanding at December 31, 2016, for the next five years, and in total thereafter: Scheduled Maturities of Debt Total 2017 2018 2019 2020 2021 After 2021 (in millions) TRC Senior secured revolving credit facility $ 275.0 $ — $ — $ — $ 275.0 $ — $ — TRC Senior secured loans 160.0 — — — — — 160.0 TRP Revolver 150.0 — — — 150.0 — — Partnership's Senior unsecured notes 4,056.8 — 250.5 749.4 — 6.5 3,050.4 Partnership's accounts receivable securitization facility 275.0 275.0 — — — — — Total $ 4,916.8 $ 275.0 $ 250.5 $ 749.4 $ 425.0 $ 6.5 $ 3,210.4 The following table shows the range of interest rates and weighted average interest rate incurred on variable-rate debt obligations during the year ended December 31, 2016: Range of Interest Rates Incurred Weighted Average Interest Rate Incurred TRC Revolver 2.2% - 4.5% 2.3% TRC senior secured term loan (1) 5.75% 5.75% TRP Revolver 2.4% - 5.3% 2.8% Partnership's accounts receivable securitization facility 1.2% - 1.8% 1.3% (1) The TRC senior secured term loan is a Eurodollar rate loan with an interest rate of LIBOR (with a LIBOR floor of 1%) plus an applicable rate of 4.75%. Compliance with Debt Covenants As of December 31, 2016, we were in compliance with the covenants contained in our various debt agreements. Debt Obligations TRC Credit Agreement In connection with the closing of the Atlas mergers, we entered into a Credit Agreement (the “TRC Credit Agreement”), dated as of February 27, 2015, among us, each lender from time to time party thereto and Bank of America, N.A. as administrative agent, collateral agent, swing line lender and letter of credit issuer. The TRC Credit Agreement provides for a five year revolving credit facility that is due February 27, 2020 in an aggregate principal amount up to $670 million that allows us to request up to $200.0 million in additional commitments, and a seven-year variable rate term loan facility in an aggregate principal amount of $430 million that allows us to request up to $200.0 million in additional commitments. This facility was issued at a 1.75% discount. The term loan is a Eurodollar rate loan with an interest rate of LIBOR (with a LIBOR floor of 1%) plus an applicable rate of 4.75%. We used the net proceeds from the term loan issuance and the revolving credit facility to fund cash components of the ATLS merger, including cash merger consideration and approximately $160.2 million related to change of control payments made by ATLS, cash settlements of equity awards and transaction fees and expenses. We are required to pay a commitment fee ranging from 0.375% to 0.5% (dependent upon the Company’s consolidated leverage ratio) on the daily average unused portion of the TRC Revolver. Additionally, outstanding borrowings bear interest at an applicable rate ranging from 1.75% to 2.75% (dependent upon the Company’s consolidated leverage ratio). The TRC Credit Agreement is secured by substantially all of the Company’s assets. The TRC Credit Agreement requires us to maintain a consolidated leverage ratio (the ratio of consolidated funded indebtedness to consolidated adjusted EBITDA) of no more than (i) 4.50 to 1.00 for the fiscal quarter ending March 31, 2016 through the fiscal quarter ending December 31, 2016 and (ii) 4.00 to 1.00 for each fiscal quarter ending thereafter. The TRC Credit Agreement restricts our ability to make dividends to shareholders if, on a pro forma basis after giving effect to such dividend, (a) any default or event of default has occurred and is continuing or (b) we are not in compliance with our consolidated leverage ratio as of the last day of the most recent test period. In addition, the TRC Credit Agreement includes various covenants that may limit, among other things, our ability to incur indebtedness, grant liens, make investments, repay or amend the terms of certain other indebtedness, merge or consolidate, sell assets, and engage in transactions with affiliates. The Partnership’s Revolving Credit Facility In October 2016, the Partnership entered into the Second Amendment and Restatement Agreement (the “Restatement”) to effectuate the Third Amended and Restated Credit Agreement (the “TRP Credit Agreement”). The TRP Credit Agreement amended and restated the TRP Revolver to extend the maturity date from October 2017 to October 2020. The available commitments under the TRP Revolver of $1.6 billion remained unchanged while the Partnership’s ability to request additional commitments increased from up to $300.0 million to up to $500.0 million. The TRP Credit Agreement designates TPL and certain of its subsidiaries as Restricted Subsidiaries and provides for certain changes to occur upon the Partnership receiving an investment grade credit rating from Moody’s or S&P, including the release of the security interests in all collateral at the request of the Partnership. As a result of the TRP Credit Agreement, during the fourth quarter of 2016, we recorded a partial write-off of $0.9 million of debt issuance costs associated with the TRP Revolver as a result of a change in syndicate members under the TRP Revolver. The remaining debt issuance costs associated with the TRP Revolver along with debt issuance costs incurred with this amendment will be amortized on a straight-line basis over the life of the TRP Revolver. In 2015, the Partnership used proceeds from borrowings under the TRP Revolver to fund some of the cash components of the APL merger, including $701.4 million for the repayments of the APL Revolver and $28.8 million related to change of control payments. The TRP Revolver bears interest, at the Partnership’s option, either at the base rate or the Eurodollar rate. The base rate is equal to the highest of: (i) Bank of America’s prime rate; (ii) the federal funds rate plus 0.5%; or (iii) the one-month LIBOR rate plus 1.0%, plus an applicable margin ranging from 0.75% to 1.75% (dependent on the Partnership’s ratio of consolidated funded indebtedness to consolidated adjusted EBITDA). The Eurodollar rate is equal to LIBOR rate plus an applicable margin ranging from 1.75% to 2.75% (dependent on the Partnership’s ratio of consolidated funded indebtedness to consolidated adjusted EBITDA). The Partnership is required to pay a commitment fee equal to an applicable rate ranging from 0.3% to 0.5% (dependent on the Partnership’s ratio of consolidated funded indebtedness to consolidated adjusted EBITDA) times the actual daily average unused portion of the TRP Revolver. Additionally, issued and undrawn letters of credit bear interest at an applicable rate ranging from 1.75% to 2.75% (dependent on the Partnership’s ratio of consolidated funded indebtedness to consolidated adjusted EBITDA). The TRP Revolver is collateralized by a majority of the Partnership’s assets. Borrowings are guaranteed by the Partnership’s restricted subsidiaries. The TRP Revolver restricts the Partnership’s ability to make distributions of available cash to unitholders if a default or an event of default (as defined in the TRP Revolver) exists or would result from such distribution. The TRP Revolver requires the Partnership to maintain a ratio of consolidated funded indebtedness to consolidated adjusted EBITDA of no more than 5.50 to 1.00. The TRP Revolver also requires the Partnership to maintain a ratio of consolidated EBITDA to consolidated interest expense of no less than 2.25 to 1.00. In addition, the TRP Revolver contains various covenants that may limit, among other things, the Partnership’s ability to incur indebtedness, grant liens, make investments, repay or amend the terms of certain other indebtedness, merge or consolidate, sell assets, and engage in transactions with affiliates (in each case, subject to the Partnership’s right to incur indebtedness or grant liens in connection with, and convey accounts receivable as part of, a permitted receivables financing). The Partnership’s Accounts Receivable Securitization Facility The Securitization Facility provides up to $275.0 million of borrowing capacity at LIBOR market index rates plus a margin through December 8, 2017. Under the Securitization Facility, Partnership subsidiaries sell or contribute certain qualifying receivables, without recourse, to another of its consolidated subsidiaries (Targa Receivables LLC or “TRLLC”), a special purpose consolidated subsidiary created for the sole purpose of the Securitization Facility. TRLLC, in turn, sells an undivided percentage ownership in the eligible receivables to third-party financial institutions. Sold receivables up to the amount of the outstanding debt under the Securitization Facility are not available to satisfy the claims of the creditors of the selling subsidiaries or the Partnership. Any excess receivables are eligible to satisfy the claims. As of December 31, 2016, total funding under the Securitization Facility was $275.0 million. The Partnership’s Senior Unsecured Notes All issues of unsecured senior notes are pari passu with existing and future senior indebtedness, including indebtedness under the TRP Revolver. They are senior in right of payment to any of our future subordinated indebtedness and are unconditionally guaranteed by the Partnership and the Partnership’s restricted subsidiaries. These notes are effectively subordinated to all secured indebtedness under the TRP Revolver, which is secured by substantially all of the Partnership’s assets and the Partnership’s Securitization Facility, which is secured by accounts receivable pledged under the facility, to the extent of the value of the collateral securing that indebtedness. Interest on all issues of senior unsecured notes is payable semi-annually in arrears. The Partnership’s senior unsecured notes and associated indenture agreements restrict the Partnership’s ability to make distributions to unitholders in the event of default (as defined in the indentures). The indentures also restrict the Partnership’s ability and the ability of certain of its subsidiaries to: (i) incur additional debt or enter into sale and leaseback transactions; (ii) pay certain distributions on or repurchase equity interests (only if such distributions do not meet specified conditions); (iii) make certain investments; (iv) incur liens; (v) enter into transactions with affiliates; (vi) merge or consolidate with another company; and (vii) transfer and sell assets. These covenants are subject to a number of important exceptions and qualifications. If at any time when the notes are rated investment grade by either Moody’s Investors Service, Inc. (“Moody’s”) or Standard & Poor’s Corporation (“S&P’) and no Default or Event of Default (each as defined in the indentures) has occurred and is continuing, many of such covenants will terminate and the Partnership and its subsidiaries will cease to be subject to such covenants. The Partnership may redeem up to 35% of the aggregate principal amount of the notes in the table below at the redemption dates and prices set forth below (expressed as percentages of principal amounts) plus accrued and unpaid interest and liquidation damages, if any, with the net cash proceeds of one or more equity offerings, provided that: (i) at least 65% of the aggregate principal amount of each of the notes (excluding notes held by us) remains outstanding immediately after the occurrence of such redemption; and (ii) the redemption occurs within 180 days of the date of the closing of such equity offering. Note Issue Any Date Prior To Price 4 ⅛% Notes November 15, 2017 104.125% 6 ¾% Notes September 15, 2018 106.750% 5 ⅛% Notes February 1, 2020 105.125% 5 ⅜% Notes February 1, 2022 105.375% The Partnership may also redeem all or part of each of the series of notes on or after the redemption dates set forth below at the price for each respective year (expressed as percentages of principal amount) plus accrued and unpaid interest and liquidation damages, if any, on the notes redeemed. Note Redemption Date Year Price 4 ⅛% Notes November 15 2016 102.063 % 2017 101.031 % 2018 and thereafter 100 % 6 ⅜% Notes February 1 2017 103.188 % 2018 102.125 % 2019 101.063 % 2020 and thereafter 100 % 5 ¼% Notes November 1 2017 102.625 % 2018 101.750 % 2019 100.875 % 2020 and thereafter 100 % 4 ¼% Notes May 15 2018 102.125 % 2019 101.417 % 2020 100.708 % 2021 and thereafter 100 % 6 ¾% Notes September 15 2019 103.375 % 2020 101.688 % 2021 and thereafter 100 % 5 ⅛% Notes February 1 2020 103.844 % 2021 102.563 % 2022 101.281 % 2023 and thereafter 100 % 5 ⅜% Notes February 1 2022 102.688 % 2023 101.792 % 2024 100.896 % 2025 and thereafter 100 % TPL 4 ¾% Notes May 15 2017 102.375 % 2018 101.188 % 2019 and thereafter 100 % TPL 5 ⅞% Notes February 1 2018 102.938 % 2019 101.958 % 2020 100.979 % 2021 and thereafter 100 % Senior Notes Issuances In October 2014, the Partnership and Targa Resources Partners Finance Corporation (collectively, the “Partnership Issuers”) issued $800.0 million in aggregate principal amount of 4 ⅛ ⅛ ⅛ In January 2015, the Partnership Issuers issued $1.1 billion in aggregate principal amount of 5% Senior Notes due 2018 (the “5% Notes”). The 5% Notes resulted in approximately $1,089.8 million of net proceeds after costs, which were used with borrowings under the Partnership’s senior secured credit facility to fund the TPL Notes Tender Offers and the Change of Control Offer (each as defined below). The 5% Notes are unsecured senior obligations that have substantially the same terms and covenants as the Partnership’s other senior notes. In September 2015, the Partnership Issuers issued $600 million in aggregate principal amount of 6 ¾ ¾ ¾ ¾ In October 2016, the Partnership Issuers issued $500.0 million of 5⅛% 5⅜% Shelf Registrations The Partnership’s April 2013 Shelf In April 2013, the Partnership filed with the SEC a universal shelf registration statement (the “April 2013 Shelf”), which provided the Partnership with the ability to offer and sell an unlimited amount of debt and equity securities, subject to market conditions and the Partnership’s capital needs. The April 2013 Shelf expired in April 2016. There was no activity under the April 2013 Shelf during the years ended December 31, 2016, 2015 and 2014. The Partnership’s July 2013 Shelf In July 2013, the Partnership filed with the SEC a universal shelf registration statement that allowed it to issue up to an aggregate of $800.0 million of debt or equity securities (the “July 2013 Shelf”). The July 2013 Shelf expired in August 2016. The Partnership’s April 2015 Shelf In April 2015, the Partnership filed with the SEC a universal shelf registration statement that allows it to issue up to an aggregate of $1.0 billion of debt or equity securities (the “April 2015 Shelf”). The April 2015 Shelf expires in April 2018. May 2016 Shelf In May 2016, we filed with the SEC a universal shelf registration statement that allows us to issue debt or equity securities (the “May 2016 Shelf”). The May 2016 Shelf expires in May 2019. See Note 13 – Common Stock and Related Matters. Debt Repurchases & Extinguishments In November 2014, the Partnership redeemed the outstanding 7 ⅞ In March 2015, we repaid $188.0 million of the term loan and wrote off $3.3 million of the discount and $5.8 million of debt issuance costs. In June 2015, we repaid $82.0 million of the term loan and wrote off $1.4 million of the discount and $2.4 million of debt issuance costs. The write-off of the discount and debt issuance costs are reflected as loss from financing activities on the Consolidated Statements of Operations for the year ended December 31, 2015. In December 2015, the Partnership repurchased on the open market a portion of its outstanding Senior Notes as follows: Debt Repurchased Book Value Payment Gain/(Loss) Write-off of Debt Issuance Costs Net Gain/(Loss) 5¼% Senior Notes $ 16.3 $ (13.0 ) $ 3.3 $ (0.1 ) $ 3.2 4¼% Senior Notes 1.5 (1.2 ) 0.3 — 0.3 6⅝% Senior Notes 0.1 (0.1 ) — — — $ 17.9 $ (14.3 ) $ 3.6 $ (0.1 ) $ 3.5 The December 2015 Senior Note repurchases resulted in a $3.6 million gain on debt repurchases and a write-off of $0.1 million in related debt issuance costs. During the year ended December 31, 2016, the Partnership repurchased on the open market a portion of its outstanding senior notes as follows: Debt Repurchased Book Value Payment Gain/(Loss) Write-off of Debt Issuance Costs Net Gain/(Loss) 5¼% Senior Notes $ 24.1 $ (20.1 ) $ 4.0 $ (0.2 ) $ 3.8 4¼% Senior Notes 39.5 (31.8 ) 7.7 (0.3 ) 7.4 6⅞% Senior Notes 4.8 (4.3 ) 0.5 (0.1 ) 0.4 6⅝% Senior Notes 32.6 (29.5 ) 3.1 — 3.1 6⅜% Senior Notes 21.3 (18.7 ) 2.6 (0.2 ) 2.4 6¾% Senior Notes 19.9 (17.5 ) 2.4 (0.2 ) 2.2 5% Senior Notes 366.4 (368.2 ) (1.8 ) (2.1 ) (3.9 ) 4⅛% Senior Notes 50.6 (44.2 ) 6.4 (0.4 ) 6.0 $ 559.2 $ (534.3 ) $ 24.9 $ (3.5 ) $ 21.4 We or the Partnership may retire or purchase various series of the Partnership’s outstanding debt through cash purchases and/or exchanges for other debt, in open market purchases, privately negotiated transactions or otherwise. Such repurchases or exchanges, if any, will depend on prevailing market conditions, our liquidity requirements, contractual restrictions and other factors. The amounts involved may be material. See “Subsequent Events – Issuance of Senior Notes and Concurrent Senior Notes Tender Offers” and “Subsequent Events – Note Redemptions.” Senior Notes Tender Offers Concurrently with the October 2016 Offering, the Partnership commenced tender offers (the “Tender Offers”) to purchase for cash, subject to certain conditions, up to specified aggregate maximum purchase amounts of our 5% Senior Notes due January 2018 (the “5% Notes”), 6 ⅝ ⅝ ⅞ ⅞ ⅝ The results of the Tender Offers, which closed in October 2016, were: Debt Tendered Outstanding Note Balance Prior to Tender Offers Amount Tendered Premium Paid Accrued Interest Paid Total Tender Offer Payments Note Balance After Tender Offers 5% Senior Notes $ 733.6 $ 483.1 $ 16.9 $ 5.4 $ 505.4 $ 250.5 6⅝% Senior Notes 309.9 281.7 10.5 0.3 292.5 28.2 6⅞% Senior Notes 478.6 373.5 14.4 4.6 392.5 105.1 Total $ 1,522.1 $ 1,138.3 $ 41.8 $ 10.3 $ 1,190.4 $ 383.8 As a result of the Tender Offers, we recorded during the fourth quarter of 2016 a loss due to debt extinguishment of approximately $59.2 million comprised of the $41.8 million premium paid, the write-off of $5.8 million of debt issuance costs, $15.1 million of debt discounts less $3.5 million of debt premiums. Note Redemptions Subsequent to the closing of the Tender Offers in October 2016, the Partnership issued notices of full redemption (the “Note Redemptions”) to the trustees and noteholders of the 6⅝% Notes ⅞ 6⅝% Notes and the 6⅝% ⅞ TPL Senior Notes Tender Offers In January 2015, the Partnership commenced cash tender offers for any and all of the outstanding fixed rate senior secured notes to be acquired in the APL merger (the “TPL Notes Tender Offers”), which totaled $1.55 billion. The results of the TPL Notes Tender Offers were: Debt Tendered Outstanding Note Balance Prior to Tender Offers Amount Tendered Premium Paid Accrued Interest Paid Total Tender Offer Payments % Tendered Note Balance After Tender Offers 6⅝% Senior Notes $ 500.0 $ 140.1 $ 2.1 $ 3.7 $ 145.9 28.02 % $ 359.9 4¾% Senior Notes 400.0 393.5 5.9 5.3 404.7 98.38 % 6.5 5⅞% Senior Notes 650.0 601.9 8.7 2.6 613.2 92.60 % 48.1 Total $ 1,550.0 $ 1,135.5 $ 16.7 $ 11.6 $ 1,163.8 $ 414.5 In connection with the TPL Notes Tender Offers, on February 27, 2015, the supplemental indentures governing the 4 3 4 7 8 Not having achieved the minimum tender condition on the 6 5 8 Payments made under the TPL Notes Tender Offers and Change of Control Offer totaling $1,168.8 million are presented as financing activities for the Partnership in the Consolidated Statements of Cash Flows. Exchange Offer and Consent Solicitation On April 13, 2015, the Partnership Issuers commenced an offer to exchange (the “Exchange Offer”) any and all of the outstanding 2020 TPL Notes, for an equal amount of new unsecured 6 5 8 5 8 5 8 In May 2015, upon the closing of the Exchange Offer, the Partnership Issuers issued $342.1 million aggregate principal amount of the TRP 6 5 8 5 8 Debt Repurchases Summary The following table summarizes the debt repurchases and extinguishments that are included in our Consolidated Statements of Operations: 2016 2015 2014 Premium over face value paid upon redemption: Partnership 5% Senior Notes $ 16.9 $ — $ — Partnership 6⅝% Senior Notes 11.5 — — Partnership 6⅞% Senior Notes 18.0 — — Partnership 6⅝% TPL Notes 0.4 — — Partnership 7⅞% Senior Notes — — 9.9 Recognition of unamortized discount: TRC Term Loan, variable rate — 4.7 — Partnership 6⅞% Senior Notes 19.5 — — Recognition of unamortized premium: Partnership 6⅝% Senior Notes (4.3 ) — — Partnership 6⅝% TPL Notes (0.2 ) — — Loss (gain) on repurchase of debt: Partnership 5% Senior Notes 1.8 — — Partnership 4⅛% Senior Notes (6.4 ) — — Partnership 6⅝% Senior Notes (2.8 ) — — Partnership 6⅞% Senior Notes (0.8 ) — — Partnership 6⅜% Senior Notes (2.6 ) — — Partnership 5¼% Senior Notes (4.0 ) (3.3 ) — Partnership 4¼% Senior Notes (7.7 ) (0.3 ) — Partnership 6¾% Senior Notes (2.4 ) — — Loss from financing with Exchange Offer: Partnership 6⅝% Senior Notes — 0.7 — Write-off of debt issuance costs: TRP Revolver 0.9 — — TRC Term Loan, variable rate — 8.2 — Partnership 5% Senior Notes 4.2 — — Partnership 4⅛% Senior Notes 0.4 — — Partnership 6⅞% Senior Notes 4.9 — — Partnership 6⅜% Senior Notes 0.2 — — Partnership 5¼% Senior Notes 0.2 0.1 — Partnership 4¼% Senior Notes 0.3 — — Partnership 6¾% Senior Notes 0.2 — — Partnership 7⅞% Senior Notes — — 2.5 Loss from financing activities $ 48.2 $ 10.1 $ 12.4

Other Long-term Liabilities

Other Long-term Liabilities	12 Months Ended
	Dec. 31, 2016
Other Liabilities Noncurrent [Abstract]
Other Long-term Liabilities	Note 11 — Other Long-term Liabilities Other long-term liabilities are comprised of the following obligations: December 31, 2016 December 31, 2015 Asset retirement obligations $ 64.6 $ 70.4 Mandatorily redeemable preferred interests 68.5 82.9 Deferred revenue 69.8 27.7 Other liabilities 12.2 5.9 Total long-term liabilities $ 215.1 $ 186.9 Asset Retirement Obligations Our asset retirement obligations (“ARO”) primarily relate to certain gas gathering pipelines and processing facilities. The changes in our ARO are as follows: 2016 2015 Beginning of period $ 70.4 $ 57.3 Fair value of ARO acquired with APL merger — 4.0 Change in cash flow estimate (9.1 ) 3.8 Accretion expense 4.6 5.3 Retirement of ARO (1.3 ) — End of period $ 64.6 $ 70.4 Mandatorily Redeemable Preferred Interests Our consolidated financial statements include our interest in two joint ventures that, separately, own a 100% interest in the WestOK natural gas gathering and processing system and a 72.8% undivided interest in the WestTX natural gas gathering and processing system. Our partner in the joint ventures holds preferred interests in each joint venture that are redeemable: (i) at our or our partner’s election, on or after July 27, 2022; and (ii) mandatorily, in July 2037. The joint ventures, collectively, hold $1.9 billion face value in notes receivable from our partner, which are due July 2042. The interest rate payable under the notes receivable is a variable LIBOR-based rate. For the periods ending on December 31, 2016, and December 31, 2015, interest earned on the notes receivable of $10.5 million, and $8.9 million, exclusive of the priority return payable to our partner, is reflected within Interest expense, net on our Consolidated Statements of Operations. We have accounted for the notes receivable at fair value. Upon redemption: (i) the distributable value of our partner’s interest in each joint venture is required to be adjusted by mutual agreement or under a valuation procedure outlined in each joint venture agreement based, among other things, on changes in the market value of the joint venture’s assets allocable to our partner (including the value of the notes receivable); and (ii) the parties are obligated to set off the value of the notes receivable from our partner against the value of our partner’s interest in the applicable joint venture. For reporting purposes under GAAP, an estimate of our partner’s interest in each joint venture is required to be recorded as if the redemption had occurred on the reporting date. Because redemption will not be required until at least 2022, the actual value of our partner’s allocable share of each joint venture’s assets at the time of redemption may differ from our estimate of redemption value as of December 31, 2016. The aggregate fair values of the notes receivable and the estimated redemption values of our partner’s interest in the joint ventures as of the reporting date are presented on the Consolidated Balance Sheets on a net basis. The following table shows the changes attributable to mandatorily redeemable preferred interests: 2016 2015 Beginning of period $ 82.9 $ — Acquired mandatorily redeemable preferred interests — 109.3 Income attributable to mandatorily redeemable preferred interests 0.8 2.8 Change in estimated redemption value included in interest expense (15.2 ) (30.6 ) Other activity, net — 1.4 End of period $ 68.5 $ 82.9 Deferred Revenue We have certain long-term contractual arrangements under which we have received consideration, but which require future performance by Targa. These arrangements result in deferred revenue, which will be recognized over the periods that performance will be provided. Deferred revenue includes consideration received related to the construction and operation of a crude oil and condensate splitter. On December 27, 2015, Targa Terminals LLC and Noble Americas Corp., a subsidiary of Noble Group Ltd. (“Noble”) entered into a long-term, fee-based agreement (“Splitter Agreement”) under which we will build and operate a 35,000 barrel per day crude oil and condensate splitter at our Channelview Terminal on the Houston Ship Channel (“Channelview Splitter”) and provide approximately 730,000 barrels of storage capacity. The Channelview Splitter will have the capability to split approximately 35,000 barrels per day of crude oil and condensate into its various components, including naphtha, kerosene, gas oil, jet fuel, and liquefied petroleum gas and will provide segregated storage for the crude, condensate and components. The Channelview Splitter project is expected to be completed by early 2018, and has an estimated total cost of approximately $140 million. The first annual advance payment due under the Splitter Agreement was received in October 2016 and has been recorded as deferred revenue, as the Splitter Agreement Deferred revenue also includes consideration received in a 2015 amendment to a gas gathering and processing agreement. We measured the estimated fair value of the assets transferred to us using significant other observable inputs representative of a Level 2 fair value measurement. The consideration paid for the contract amendment will require future performance by Targa which has resulted in the deferred revenue. The deferred revenue related to this amendment is being recognized on a straight-line basis through the end of the agreement’s term in 2030. Deferred revenue also includes consideration received for other construction activities of facilities connected to our systems. The deferred revenue related to these other construction activities will be recognized over the periods that future performance will be provided, which extend through 2023. For the years ended December 31, 2016, 2015 and 2014, we recognized approximately $3.1 million, $2.7 million and $0.1 million of revenue for these transactions. The following table shows the components of deferred revenue: December 31, 2016 December 31, 2015 Splitter agreement $ 43.0 $ — Gas contract amendment 19.7 21.1 Other deferred revenue 7.1 6.6 Total deferred revenue $ 69.8 $ 27.7 The following table shows the changes in deferred revenue: 2016 2015 Beginning of period $ 27.7 $ 4.1 Additions 45.2 26.3 Revenue recognized (3.1 ) (2.7 ) End of period $ 69.8 $ 27.7

Preferred Stock

Preferred Stock	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Preferred Stock	Note 12 – Preferred Stock Preferred Stock and Detachable Warrants In the first quarter of 2016, TRC sold in two tranches to investors in a private placement 965,100 shares of Series A Preferred Stock (“Series A Preferred”) with detachable Series A Warrants exercisable into a maximum of 13,550,004 shares of our common stock and Series B Warrants exercisable into a maximum of 6,533,727 shares of our common stock (collectively the “Warrants”) for an aggregate purchase price of $994.1 million in cash. The Series A Preferred has a liquidation value of $1,000 per share and bears a cumulative 9.5% fixed dividend payable quarterly 45 days after the end of each fiscal quarter. The Company may elect to pay dividends for any quarter with a paid-in-kind election (“PIK”) through December 31, 2017. Under the PIK election, unpaid dividends would be added to the liquidation preference and a commensurate amount of Series A and Series B Warrants would be issued. We have not made an election to PIK through December 31, 2016. The $178.1 million discount on the Series A Preferred created by the relative fair value allocation of proceeds, which is not subject to periodic accretion, would be reported as a deemed dividend in the event a redemption occurs. The Series A Preferred has no mandatory redemption date, but is redeemable at our election in year six for a 10% premium to the liquidation preference and for a 5% premium to the liquidation preference thereafter. If the Series A Preferred is not redeemed by the end of year twelve, the investors have the right to convert the Series A Preferred into TRC common stock at an exercise price of $20.77, which represented a 10% premium over the ten day volume weighted average price (“VWAP”) prior to the February 18, 2016 signing date ($18.88) of the Purchase Agreement underlying the first tranche. If the investors do not elect to convert their Series A Preferred into TRC common stock, Targa has a right after year twelve to force conversion, but only if the VWAP for the ten preceding trading days is greater than 120% of the conversion price. A change of control provision could result in forced redemption, at the option of the investor, if the Series A Preferred could not otherwise remain outstanding or be replaced with a “substantially equivalent security.” The change of control premium to the liquidation preference on the redemption is initially 25% in year one, 20% in year two, 15% in year three, 10% in years four through six and 5% thereafter. The Series A Preferred ranks senior to the common outstanding stock with respect to the payment of dividends and distributions in liquidation. The holders of Series A Preferred generally only have voting rights in certain circumstances, subject to certain exceptions, which include: • the issuance or the increase by the Company of any specific class or series of stock that is senior to the Series A Preferred, • the issuance or the increase by any of the Company’s consolidated subsidiaries of any specific class or series of securities, • changes to the Certificates of Incorporation or Designations of the Series A Preferred that would materially and adversely affect the Preferred Stock holder, • the issuance of stock on parity with the Series A Preferred, subject to certain exceptions, if the Company has exceeded a stipulated fixed charge coverage ratio or an aggregate amount of net proceeds from all future issuances of Parity Stock, or would use the proceeds of such issuance to pay dividends, • the incurrence of indebtedness, other than indebtedness that complies with a stipulated fixed charge coverage ratio or under the TRC and TRP Credit Agreements (or replacement commercial bank facilities) in an aggregate amount up to $2.75 billion. In addition, observation right status as a Board Observer was granted to an investor with the right to attend full meetings of the Board of Directors (the “Board”) for TRC and to receive materials other members of the Board receive. Only in the event (i) we have not paid distributions with respect to two full quarters (whether or not consecutive) on the Series A Preferred or (ii) an event of default occurs with respect only to the financial covenants under the TRC and TRP Credit Agreements, will the investor have the right to turn the Board Observer into a member of the Board to serve until (x) all accrued and unpaid distributions on the Series A Preferred are paid or (y) there is no longer such an event of default, as applicable. The Series A Preferred is a hybrid security and is viewed as a debt host for the purpose of evaluating embedded derivatives. Bifurcation of the Company’s redemption provision is not required because the redemption provision is clearly and closely related to the preferred debt host. Further, both our and the investors’ conversion options qualify for a derivatives scope exception under ASC 815 – Derivatives and Hedging Distinguishing Liabilities from Equity, The detachable Warrants have a seven-year term and were exercisable beginning on September 16, 2016. They were issued in two series: Series A Warrants exercisable into a maximum number of 13,550,004 shares of our common stock with an exercise price of $18.88 and 6,533,727 Series B Warrants with an exercise price of $25.11. The Warrants may be net settled in cash or shares of common stock at the Company’s option. The Warrants qualify as freestanding financial instruments and meet the derivatives accounting scope exception in ASC 815 because they are indexed to our equity and otherwise meet the applicable criteria for equity classification. The portion of proceeds allocated to the Series A and Series B Warrants was recorded as additional paid-in capital. Pursuant to the terms of the Registration Rights Agreement covering the common stock issuable upon exercise of the Warrants (the “Warrants Registration Rights Agreement”), we filed a prospectus supplement on June 30, 2016 (the “Warrants Prospectus Supplement”) to our May 2016 Shelf and together with the Warrants Prospectus Supplement, the “Warrants Registration Statement”) for the registered resale by the selling stockholders described therein of 20,083,731 common shares, which is the maximum amount that could be issued upon conversion of the Warrants. We have granted certain demand and piggyback registration rights with respect to the holders of the common shares underlying the Warrants pursuant to the Warrants Registration Rights Agreement. Also under the Warrants Registration Rights Agreement, we are required to use commercially reasonable efforts to keep the Warrants Registration Statement to be continuously effective, until the earliest to occur of the following: (a) the date on which all Registrable Securities (as defined under the Warrants Registration Rights Agreement) covered by the Warrants Registration Statement have been distributed, (b) the date on which there are no longer any Registrable Securities outstanding and (c) the later of (1) the fourth anniversary of the date on which all Warrants have been converted into common shares and (2) if and only if any holder of Registrable Securities is an “affiliate” (as such term is defined in Rule 144 promulgated under the Securities Act) of the Company, the earlier of (x) the date on which such holder is no longer an “affiliate” (as such term is defined in Rule 144 promulgated under the Securities Act) of the Company and (y) March 16, 2028. See Note 13 – Common Stock and Related Matters for further information regarding the exercise of Warrants. Under the Preferred Registration Rights Agreement, if the registration statement is not declared effective by the applicable required effective date, each record holder of the securities to be registered would receive liquidated damages. The Liquidated Damages Multiplier (“the multiplier”) is calculated as the product of (1) $20.77 and (ii) the number of registrable securities by the applicable record holder of any registrable securities. The liquidated damages, which would accrue daily, are an amount equal to 0.25% of the multiplier for the first 60 day period following the Effective Date plus an additional 0.25% of the multiplier for each subsequent 60 days (i.e. 0.5% for 61-120 days, 0.75% for 121-180 days, and 1.0% thereafter), up to a maximum amount equal to 1.0% of the multiplier thereafter. There is no limitation for the maximum potential consideration of liquidated damages. Management believes that remittance of any future payments under these provisions is not probable and therefore has not attributed any allocation of offering proceeds to a contingent liability for registration payment arrangements under ASC 825-20 – Financial Instruments-Registration Payment Arrangements Net cash proceeds of $969.3 million (which reflects payment of $24.8 million transaction fees), were allocated on a relative fair value basis to the Series A Preferred ($787.1 million), Series A Warrants ($135.7 million) and Series B Warrants ($46.5 million). The $178.1 million discount on the Series A Preferred created by the relative fair value allocation of proceeds, which is not subject to periodic accretion, would be reported as a deemed dividend in the event a redemption occurs. As described below, $614.4 million of the $787.1 million allocated to the Series A Preferred is allocated to additional paid-in capital to give effect to the intrinsic value of a beneficial conversion feature (“BCF”). Beneficial Conversion Feature ASC 470-20-20 – Debt – Debt with conversion and Other Options We have the right to redeem the Series A Preferred beginning after year five. As such, we can effectively mitigate or limit the Series A Preferred Holders’ ability to benefit from their conversion right after year twelve by paying either a $96.5 million (10%) redemption premium in year six or a $48.3 million (5%) redemption premium in years seven through twelve. In either case, the redemption premium would be significantly less than the $614.4 million BCF required to be recognized under GAAP. Upon exercise of our redemption rights, any previously recognized accretion of deemed dividends would be reversed in the period of redemption and reflected as income attributable to common shareholders in our Consolidated Statement of Operations and related per share amounts. The following table summarizes the accounting upon issuance of our Series A Preferred: Allocation of Proceeds Additional Paid-in Capital Series A Preferred Stock Series A Warrants Series B Warrants Beneficial Conversion Feature (BCF) Gross proceeds $ 994.1 Transaction fees (24.8 ) Net Proceeds- Initial Relative Fair Value Allocation $ 969.3 $ 787.1 $ 135.7 $ 46.5 $ — Allocation to BCF (614.4 ) — — 614.4 Per balance sheet upon issuance $ 172.7 $ 135.7 $ 46.5 $ 614.4 Preferred Stock Dividends As of December 31, 2016, we have accrued cumulative preferred dividends of $22.9 million, which were paid on February 14, 2017. We paid $49.7 million of dividends to preferred shareholders during the year ended December 31, 2016. In 2016, we recorded deemed dividends of $18.2 million attributable to accretion of the preferred discount resulting from the BCF accounting described above. Such accretion is included in the book value of the Series A Preferred Stock.

Common Stock and Related Matter

Common Stock and Related Matters	12 Months Ended
	Dec. 31, 2016
Class Of Stock Disclosures [Abstract]
Common Stock and Related Matters	Note 13 — Common Stock and Related Matters Public Offerings of Common Stock On February 27, 2015, we issued 10,126,532 shares of our common stock valued at approximately $1.0 billion in exchange for ATLS common units as part of the Atlas mergers (based on the $99.58 closing market price of our common shares on the NYSE as of February 27, 2015). In addition, we awarded 81,740 RSUs in connection with the Atlas mergers. In March 2015, we sold, in a public offering, 3,250,000 shares of our common stock under a registration statement on Form S-3 at a price of $91.00 per share of common stock, providing net proceeds of $292.8 million to us. Pursuant to the exercise of the underwriters’ overallotment option, we also sold an additional 487,500 shares of our common stock, providing additional net proceeds of $43.9 million. The proceeds from this offering were used to repay a portion of the outstanding borrowings under our term loan and to make a capital contribution of $52.4 million to the Partnership to maintain our 2% general partnership interest in the Partnership and for general corporate purposes. In May 2016, we entered into an Equity Distribution Agreement under the May 2016 Shelf (the “May 2016 EDA”), pursuant to which we may sell, at our option, up to an aggregate of $500.0 million of our common stock. The common stock available for sale under the May 2016 EDA was registered pursuant to a registration statement on Form S-3 filed on May 23, 2016. During 2016, we issued 11,074,266 shares of common stock under the May 2016 EDA, receiving net proceeds of $494.0 million. In December 2016, we terminated the May 2016 EDA with a remaining amount of $2.2 million. In December 2016, we entered into another Equity Distribution Agreement under the May 2016 Shelf (the “December 2016 EDA”), pursuant to which we may sell, at our option, up to an aggregate of $750.0 million of our common stock. The common stock available for sale under the December 2016 EDA was registered pursuant to a registration statement on Form S-3 filed on May 23, 2016. During 2016, we issued 1,487,100 shares of common stock under the December 2016 EDA, receiving net proceeds of $78.7 million. As of December 31, 2016, we have $670.5 million remaining under the December 2016 EDA. In connection with the December 2016 EDA we terminated the May 2016 EDA. TRC/TRP Merger On February 17, 2016, we completed the TRC/TRP Merger and issued 104,525,775 shares of our common stock in exchange for all of the outstanding common units of the Partnership that we previously did not own. See Note 2 – Basis of Presentation. Warrants The following table sets forth the activity related to detachable Warrants issued as part of our Series A Preferred offering. Warrants may be net-settled in either common shares or cash at our option. Shares of Series A Warrants Series B Warrants Common Stock Issued Cash Settled Outstanding, December 31, 2015 — — Issued and exercisable to common stock 13,550,004 6,533,727 Exercised (13,482,612 ) (6,501,231 ) 11,336,856 $ — Outstanding, December 31, 2016 67,392 32,496 Exercise prices $ 18.88 $ 25.11 Weighted average stock price at exercise dates 48.47 48.51 Dividends The following table details the dividends declared and/or paid by us to common shareholders for the years ended December 31, 2016, 2015 and 2014: Three Months Ended Date Paid or To Be Paid Total Common Dividends Declared Amount of Common Dividends Paid or To Be Paid Accrued Dividends (1) Dividend Declared per Share of Common Stock ( per share amounts) 2016 December 31, 2016 February 15, 2017 $ 178.3 $ 176.5 $ 1.8 $ 0.91000 September 30, 2016 November 15, 2016 166.4 164.6 1.8 0.91000 June 30, 2016 August 15, 2016 153.1 151.6 1.5 0.91000 March 31, 2016 May 16, 2016 147.8 146.1 1.7 0.91000 2015 December 31, 2015 February 9, 2016 $ 51.7 $ 51.0 $ 0.7 $ 0.91000 September 30, 2015 November 16, 2015 51.3 51.0 0.3 0.91000 June 30, 2015 August 17, 2015 49.2 49.0 0.2 0.87500 March 31, 2015 May 18, 2015 46.6 46.4 0.2 0.83000 2014 December 31, 2014 February 17, 2015 $ 32.8 $ 32.6 $ 0.2 $ 0.77500 September 30, 2014 November 17, 2014 31.0 30.8 0.2 0.73250 June 30, 2014 August 15, 2014 29.2 29.0 0.2 0.69000 March 31, 2014 May 16, 2014 27.4 27.2 0.2 0.64750 (1) Represents accrued dividends on restricted stock and restricted stock units that are payable upon vesting. Dividends declared are recorded as a reduction of retained earnings to the extent that retained earnings was available at the close of the prior quarter, with any excess recorded as a reduction of additional paid-in capital. Subsequent Event On January 26, 2017, we completed a public offering of 9,200,000 shares of common stock (including underwriters’ overallotment option) at a price of $57.65, providing net proceeds of $524.1 million. We intend to use the net proceeds from this public offering to fund a portion of the $565 million initial purchase price of the Permian Acquisition.

Partnership Units and Related M

Partnership Units and Related Matters	12 Months Ended
	Dec. 31, 2016
Partners Capital [Abstract]
Partnership Units and Related Matters	Note 14 — Partnership Units and Related Matters Common Units Equity Offerings In May 2014, the Partnership entered into an equity distribution agreement (“EDA”) under the July 2013 Shelf (the “May 2014 EDA”), pursuant to which the Partnership may sell through its sales agents, at its option, up to an aggregate of $400 million of the Partnership’s common units. During the year ended 2014, pursuant to the August 2013 EDA and the May 2014 EDA, the Partnership issued a total of 7,175,096 common units representing total net proceeds of $408.4 million, (net of commissions up to 1% of gross proceeds to its sales agent), which were used to reduce borrowings under the TRP Revolver and for general partnership purposes. We contributed $8.4 million to maintain our 2% general partner interest. As part of the Atlas merger in February 2015, the Partnership issued 58,614,157 common units to former APL unitholders as consideration for the APL merger, of which 3,363,935 common units represented ATLS’s common unit ownership in APL and were issued to us. We contributed $52.4 million to the Partnership to maintain our 2% general partner interest. In May 2015, the Partnership entered the May 2015 EDA, pursuant to which the Partnership may sell through our sales agents, at its option, up to an aggregate of $1.0 billion of its common units. As of December 31, 2015, the Partnership issued 7,377,380 common units under its EDAs, receiving net proceeds of $316.1 million. As of December 31, 2015, approximately $4.2 million of capacity and $835.6 million of capacity remained under the May 2014 and May 2015 EDAs. We contributed $6.5 million to the Partnership to maintain our 2% general partner interest. Since January 2016, no units have been issued from any of the EDAs. TRC/TRP Merger On February 17, 2016, TRC completed the TRC/TRP Merger, indirectly acquiring all of the outstanding common units not already owned by us and our subsidiaries. As a result of the TRC/TRP Merger, we own all of the Partnership’s outstanding common units. At the effective time of the TRC/TRP Merger, each outstanding TRP common unit not owned by us or our subsidiaries was converted into the right to receive 0.62 shares of our common stock. We issued 104,525,775 shares of our common stock to third-party unitholders of the common units of the Partnership in exchange for all of the 168,590,009 outstanding common units of the Partnership that we previously did not own. No fractional TRC shares were issued in the TRC/TRP Merger, and TRP common unitholders, instead received cash in lieu of fractional TRC shares. Pursuant to the TRC/TRP Merger Agreement, TRC caused the TRP common units to be delisted from the NYSE and deregistered under the Exchange Act. As a result of the completion of the TRC/TRP Merger, the TRP common units are no longer publicly traded. Distributions As a result of the TRC/TRP Merger in 2016, we are entitled to receive all available Partnership distributions after payment of preferred distributions each quarter. The Partnership has discretion under the Third Amended and Restated Agreement of Limited Partnership of Targa Resources Partners LP (the “Third A&R Partnership Agreement”), The following details the distributions declared or paid by the Partnership during 2016, 2015 and 2014: Three Months Date Paid Total Distributions Targa Ended Or to Be Paid Distributions Corp. 2016 December 31, 2016 February 10, 2017 $ 198.1 $ 195.3 September 30, 2016 November 11, 2016 194.7 191.9 June 30, 2016 August 11, 2016 181.7 178.9 March 31, 2016 May 12, 2016 157.6 154.8 2015 December 31, 2015 February 9, 2016 $ 200.4 $ 61.4 September 30, 2015 November 13, 2015 200.4 61.4 June 30, 2015 August 14, 2015 200.4 61.4 March 31, 2015 May 15, 2015 193.9 59.0 2014 December 31, 2014 February 13, 2015 $ 137.4 $ 51.6 September 30, 2014 November 14, 2014 130.9 48.9 June 30, 2014 August 14, 2014 125.7 46.3 March 31, 2014 May 15, 2014 121.3 44.0 Pursuant to the IDR Giveback Amendment in conjunction with the Atlas mergers, IDRs of $9.375 million were reallocated to common unitholders for each of the four quarters of 2015. The IDR Giveback Amendment covered sixteen quarterly distribution declarations following the completion of the Atlas mergers on February 27, 2015. The IDR Giveback resulted in reallocation of IDR payments to common unitholders of $6.25 million for each of the first three quarters of 2016. On October 19, 2016, the Partnership executed the Third A&R Partnership Agreement, which became effective on December 1, 2016. The Third A&R Partnership Agreement amendments include among other things (i) eliminating the IDRs held by the general partner, and related distribution and allocation provisions, (ii) eliminating the Special GP Interest (as defined in the Third A&R Partnership Agreement) held by the general partner, (iii) providing the ability to declare monthly distributions in addition to quarterly distributions, (iv) modifying certain provisions relating to distributions from available cash, (v) eliminating the Class B Unit (as defined in the Third A&R Partnership Agreement) provisions and (vi) changes to the Third A&R Partnership Agreement to reflect the passage of time and to remove provisions that are no longer applicable. As a result of the Third A&R Partnership Agreement, the reallocations of IDRs under the IDR Giveback Amendment ceased in the fourth quarter of 2016. On December 1, 2016 the Partnership issued to the General Partner (i) 20,380,286 common units and 424,590 General Partner units in exchange for the elimination of the IDRs and (ii) 11,267,485 common units and 234,739 General Partner units in exchange for the elimination of the Special GP Interest in connection with the Third A&R Partnership Agreement. Contributions During 2016, we made total capital contributions to the Partnership of $1,381.0 million. 58,621,036 common units and 1,196,346 general partner units were issued for our contributions of $1,191.0 million. Subsequent to the effective date of the Third A&R Partnership Agreement, no units will be issued for capital contributions but all capital contributions will continue to be allocated 98% to the limited partner and 2% to the general partner. In December 2016, we made a $190.0 million capital contribution to the Partnership which was allocated accordingly. Preferred Units In October 2015, under the April 2013 Shelf, the Partnership completed an offering of 4,400,000 Preferred Units at a price of $25.00 per unit. Pursuant to the exercise of the underwriters’ overallotment option, the Partnership sold an additional 600,000 Preferred Units at a price of $25.00 per unit. The Partnership received net proceeds after costs of approximately $121.1 million. The Partnership used the net proceeds from this offering to reduce borrowings under its senior secured credit facility and for general partnership purposes. The Preferred Units are listed on the NYSE under the symbol “NGLS PRA.” Distributions on the Partnership’s 5,000,000 Preferred Units are cumulative from the date of original issue in October 2015 and are payable monthly in arrears on the 15th day of each month of each year, when, as and if declared by the board of directors of the Partnership’s general partner. Distributions on the Preferred Units will be payable out of amounts legally available therefor from at a rate equal to 9.0% per annum. On and after November 1, 2020, distributions on the Preferred Units will accumulate at an annual floating rate equal to the one-month LIBOR plus a spread of 7.71%. The Preferred Units, with respect to anticipated monthly distributions, rank: • senior to the Partnership’s common units and to each other class or series of Partnership interests or other equity securities established after the original issue date of the Preferred Units that is not expressly made senior to or pari passu with the Preferred Units as to the payment of distributions; • pari passu with any class or series of Partnership interests or other equity securities established after the original issue date of the Preferred Units that is not expressly made senior or subordinated to the Preferred Units as to the payment of distributions; • junior to all of the Partnership’s existing and future indebtedness (including (i) indebtedness outstanding under the TRP Revolver, (ii) the Partnership’s senior notes and (iii) indebtedness outstanding under the Securitization Facility and other liabilities with respect to assets available to satisfy claims against the Partnership; and • junior to each other class or series of Partnership interests or other equity securities established after the original issue date of the Preferred Units that is expressly made senior to the Preferred Units as to the payment of distributions. At any time on or after November 1, 2020, the Partnership may redeem the Preferred Units, in whole or in part, from any source of funds legally available for such purpose, by paying 25.00 per unit plus an amount equal to all accumulated and unpaid distributions thereon to the date of redemption, whether or not declared. In addition, the Partnership (or a third party with our prior written consent) may redeem the Preferred Units following certain changes of control, as described in our Partnership Agreement. If the Partnership does not (or a third party with our prior written consent does not) exercise this option, then the holders of the Preferred Units have the option to convert the Preferred Units into a number of common units per Preferred Unit as set forth in the Partnership Agreement. If the Partnership exercises (or a third party with our prior written consent exercises) its redemption rights relating to any Preferred Units, the holders of those Preferred Units will not have the conversion right described above with respect to the Preferred Units called for redemption. Holders of Preferred Units have no voting rights except for certain exceptions set forth in the Partnership Agreement. As of December 31, 2016, the Partnership has 5,000,000 Preferred Units outstanding. The Partnership paid $11.3 million and $1.5 million of distributions to the holders of preferred units (“Preferred Unitholders”) during 2016 and 2015. The Preferred Units are reported as noncontrolling interests in our financial statements. In January and February 2017, the board of directors of the general partner of the Partnership declared a cash distribution of $0.1875 per Preferred Unit, resulting in approximately $0.9 million in distributions each month. The distributions declared in January were paid on February 15, 2017 and the distributions declared in February will be paid on March 15, 2017.

Earnings per Common Share

Earnings per Common Share	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Earnings per Common Share	Note 15 — Earnings per Common Share The following table sets forth a reconciliation of net income and weighted average shares outstanding (in millions) used in computing basic and diluted net income per common share: 2016 2015 2014 Net income $ (159.1 ) $ (151.4 ) $ 423.0 Less: Net income attributable to noncontrolling interests 28.2 (209.7 ) 320.7 Less: Dividends on preferred stock 90.8 — — Net income attributable to common shareholders for basic earnings per share $ (278.1 ) $ 58.3 $ 102.3 Weighted average shares outstanding - basic 154.4 53.5 42.0 Net income available per common share - basic $ (1.80 ) $ 1.09 $ 2.44 Weighted average shares outstanding 154.4 53.5 42.0 Dilutive effect of unvested stock awards — 0.1 0.1 Weighted average shares outstanding - diluted 154.4 53.6 42.1 Net income available per common share - diluted $ (1.80 ) $ 1.09 $ 2.43 The following potential common stock equivalents are excluded from the determination of diluted earnings per share because the inclusion of such shares would have been anti-dilutive (in millions on a weighted-average basis): 2016 2015 2014 Unvested restricted stock awards 0.6 0.1 — Warrants to purchase common stock 5.8 — — Series A preferred stock (1) 36.9 — — (1) The Series A Preferred has no mandatory redemption date, but is redeemable at our election in year six for a 10% premium to the liquidation preference and for a 5% premium to the liquidation preference thereafter. If the Series A Preferred is not redeemed by the end of year twelve, the investors have the right to convert the Series A Preferred into TRC common stock. See Note 12 – Preferred Stock.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	12 Months Ended
	Dec. 31, 2016
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Note 16 — Derivative Instruments and Hedging Activities The primary purpose of our commodity risk management activities is to manage our exposure to commodity price risk and reduce volatility in our operating cash flow due to fluctuations in commodity prices. We have hedged the commodity prices associated with a portion of our expected (i) natural gas equity volumes in our Gathering and Processing segment and (ii) NGL and condensate equity volumes predominately in our Gathering and Processing segment that result from 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. We have designated these derivative contracts as cash flow hedges for accounting purposes. The hedges generally match the NGL product composition and the NGL delivery points of our physical equity volumes. Our natural gas hedges are a mixture of specific gas delivery points and Henry Hub. The NGL hedges may be transacted as specific NGL hedges or as baskets of ethane, propane, normal butane, isobutane and natural gasoline based upon our expected equity NGL composition. We believe this approach avoids uncorrelated risks resulting from employing hedges on crude oil or other petroleum products as “proxy” hedges of NGL prices. Our natural gas and NGL hedges are settled using published index prices for delivery at various locations. We hedge a portion of our condensate equity volumes using crude oil hedges that are based on the NYMEX futures contracts for West Texas Intermediate light, sweet crude, which approximates the prices received for condensate. This necessarily exposes us to a market differential risk if the NYMEX futures do not move in exact parity with the sales price of our underlying condensate equity volumes. As part of the Atlas mergers, outstanding APL derivative contracts with a fair value of $102.1 million as of the acquisition date were novated to us and included in the acquisition date fair value of assets acquired. We received derivative settlements of $26.6 million for the year ended December 31, 2016, and $67.9 million for the year ended December 31, 2015, related to these novated contracts. These settlements were reflected as a reduction of the acquisition date fair value of the APL derivative assets acquired and had no effect on results of operations. The "off-market" nature of these acquired derivatives can introduce a degree of ineffectiveness for accounting purposes due to an embedded financing element representing the amount that would be paid or received as of the acquisition date to settle the derivative contract. The resulting ineffectiveness can either potentially disqualify the derivative contract in its entirety for hedge accounting or alternatively affect the amount of unrealized gains or losses on qualifying derivatives that can be deferred from inclusion in periodic net income. Additionally, we recorded ineffectiveness losses of $0.9 million for the year ended December 31, 2015, related to otherwise qualifying APL derivatives, which are primarily natural gas swaps. There were no ineffectiveness losses on these derivatives for the year ended December 31, 2016. We also enter into derivative instruments to help manage other short-term commodity-related business risks. We have not designated these derivatives as hedges and record changes in fair value and cash settlements to revenues. At December 31, 2016, the notional volumes of our commodity derivative contracts were: Commodity Instrument Unit 2017 2018 2019 Natural Gas Swaps MMBtu/d 133,448 84,800 45,683 Natural Gas Basis Swaps MMBtu/d 72,219 - - Natural Gas Options MMBtu/d 22,900 9,486 - NGL Swaps Bbl/d 9,635 4,688 3,369 NGL Futures Bbl/d 6,118 959 - NGL Options Bbl/d 1,468 1,676 - Condensate Swaps Bbl/d 2,270 1,770 643 Condensate Options Bbl/d 1,380 691 590 Our derivative contracts are subject to netting arrangements that permit our contracting subsidiaries to net cash settle offsetting asset and liability positions with the same counterparty within the same Targa entity. We record derivative assets and liabilities on our Consolidated Balance Sheets on a gross basis, without considering the effect of master netting arrangements. The following schedules reflect the fair 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 December 31, 2016 Fair Value as of December 31, 2015 Balance Sheet Derivative Derivative Derivative Derivative Location Assets Liabilities Assets Liabilities Derivatives designated as hedging instruments Commodity contracts Current $ 16.7 $ 48.6 $ 92.1 $ 2.1 Long-term 5.1 26.1 34.9 2.4 Total derivatives designated as hedging instruments $ 21.8 $ 74.7 $ 127.0 $ 4.5 Derivatives not designated as hedging instruments Commodity contracts Current $ 0.1 $ 0.5 $ 0.1 $ 3.1 Total derivatives not designated as hedging instruments $ 0.1 $ 0.5 $ 0.1 $ 3.1 Total current position $ 16.8 $ 49.1 $ 92.2 $ 5.2 Total long-term position 5.1 26.1 34.9 2.4 Total derivatives $ 21.9 $ 75.2 $ 127.1 $ 7.6 The pro forma impact of reporting derivatives in our Consolidated Balance Sheets on a net basis is as follows: Gross Presentation Pro forma net presentation December 31, 2016 Asset Liability Collateral Asset Liability Current Position Counterparties with offsetting positions or collateral $ 16.8 $ (46.1 ) $ 7.0 $ 5.7 $ (28.0 ) Counterparties without offsetting positions - assets - - - - - Counterparties without offsetting positions - liabilities - (3.0 ) - - (3.0 ) 16.8 (49.1 ) 7.0 5.7 (31.0 ) Long Term Position Counterparties with offsetting positions or collateral 5.1 (18.7 ) - - (13.6 ) Counterparties without offsetting positions - assets - - - - - Counterparties without offsetting positions - liabilities - (7.4 ) - - (7.4 ) 5.1 (26.1 ) - (21.0 ) Total Derivatives Counterparties with offsetting positions or collateral 21.9 (64.8 ) 7.0 5.7 (41.6 ) Counterparties without offsetting positions - assets - - - - - Counterparties without offsetting positions - liabilities - (10.4 ) - - (10.4 ) $ 21.9 $ (75.2 ) $ 7.0 $ 5.7 $ (52.0 ) Gross Presentation Pro forma net presentation December 31, 2015 Asset Liability Collateral Asset Liability Current Position Counterparties with offsetting positions or collateral $ 86.9 $ (5.2 ) $ - $ 81.7 $ - Counterparties without offsetting positions - assets 5.3 - - 5.3 - Counterparties without offsetting positions - liabilities - - - - - 92.2 (5.2 ) - 87.0 - Long Term Position Counterparties with offsetting positions or collateral 34.2 (2.4 ) - 31.8 - Counterparties without offsetting positions - assets 0.7 - - 0.7 - Counterparties without offsetting positions - liabilities - - - - - 34.9 (2.4 ) 32.5 - Total Derivatives Counterparties with offsetting positions or collateral 121.1 (7.6 ) - 113.5 - Counterparties without offsetting positions - assets 6.0 - - 6.0 - Counterparties without offsetting positions - liabilities - - - - - $ 127.1 $ (7.6 ) $ - $ 119.5 $ - Our payment obligations in connection with a majority of these hedging transactions are secured by a first priority lien in the collateral securing the TRP Revolver that ranks equal in right of payment with liens granted in favor of the Partnership’s senior secured lenders. Some of our hedges are futures contracts executed through a broker that clears the hedges through an exchange. We maintain a margin deposit with the broker in an amount sufficient enough to cover the fair value of our open futures positions. The margin deposit is considered collateral, which is located within other current assets on our Consolidated Balance Sheets and is not offset against the fair values of our derivative instruments. The fair value of our derivative instruments, depending on the type of instrument, was determined by the use of present value methods or standard option valuation models with assumptions about commodity prices based on those observed in underlying markets. The estimated fair value of our derivative instruments was a net liability of $53.3 million as of December 31, 2016. 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. Our futures contracts that are cleared through an exchange are margined daily and do not require any credit adjustment. The following tables reflect amounts recorded in Other Comprehensive Income (“OCI”) and amounts reclassified from OCI to revenue and expense for the periods indicated: Derivatives in Cash Flow Gain (Loss) Recognized in OCI on Derivatives (Effective Portion) Hedging Relationships 2016 2015 2014 Commodity contracts $ (103.6 ) $ 112.7 $ 59.7 Gain (Loss) Reclassified from OCI into Income (Effective Portion) Location of Gain (Loss) 2016 2015 2014 Interest expense, net $ — $ — $ (2.4 ) Revenues 45.0 86.3 (4.2 ) $ 45.0 $ 86.3 $ (6.6 ) Our consolidated earnings are also affected by the use of the mark-to-market method of accounting for derivative instruments that do not qualify for hedge accounting or that have not been designated as hedges. The changes in fair value of these instruments are recorded on the balance sheet and through earnings rather than being deferred until the anticipated transaction settles. The use of mark-to-market accounting for financial instruments can cause non-cash earnings volatility due to changes in the underlying commodity price indices. Derivatives Not Designated Location of Gain Recognized in Gain (Loss) Recognized in Income on Derivatives as Hedging Instruments Income on Derivatives 2016 2015 2014 Commodity contracts Revenue $ 0.9 $ (5.7 ) $ (5.5 ) Based on valuations as of December 31, 2016, we expect to reclassify commodity hedge related deferred losses of $60.7 million included in accumulated other comprehensive income into earnings before income taxes through the end of 2019, with $39.7 million to be reclassified over the next twelve months. See Note 17 – Fair Value Measurements for additional disclosures related to derivative instruments and hedging activities.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 17 — Fair Value Measurements Under GAAP, our Consolidated Balance Sheets reflect a mixture of measurement methods for financial assets and liabilities (“financial instruments”). Derivative financial instruments and contingent consideration related to business acquisitions are reported at fair value in our Consolidated Balance Sheets. Other financial instruments are reported at historical cost or amortized cost in our Consolidated Balance Sheets. The following are additional qualitative and quantitative disclosures regarding fair value measurements of financial instruments. Fair Value of Derivative Financial Instruments Our derivative instruments consist of financially settled commodity swaps, futures, option contracts and fixed-price forward commodity contracts with certain counterparties. We determine the fair value of our derivative contracts using present value methods or standard option valuation models with assumptions about commodity prices based on those observed in underlying markets. We have consistently applied these valuation techniques in all periods presented and we believe we have obtained the most accurate information available for the types of derivative contracts we hold. The fair values of our derivative instruments are sensitive to changes in forward pricing on natural gas, NGLs and crude oil. The financial position of these derivatives at December 31, 2016, a net liability position of $53.3 million, reflects the present value, adjusted for counterparty credit risk, of the amount we expect to receive or pay in the future on our derivative contracts. If forward pricing on natural gas, NGLs and crude oil were to increase by 10%, the result would be a fair value reflecting a net liability of $107.4 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 $14.9 million, ignoring an adjustment for counterparty credit risk. Fair Value of Other Financial Instruments Due to their cash or near-cash nature, the carrying value of other financial instruments included in working capital (i.e., cash and cash equivalents, accounts receivable, accounts payable) approximates their fair value. Long-term debt is primarily the other financial instrument for which carrying value could vary significantly from fair value. We determined the supplemental fair value disclosures for our long-term debt as follows: • The TRC Revolver, TRP Revolver, 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 • Our term loan and the Partnership’s senior unsecured notes are based on quoted market prices derived from trades of the debt. We have a contingent consideration liability for TPL’s previous acquisition of a gas gathering system and related assets, which is carried at fair value. See Note 4 – Business Acquisitions. Fair Value Hierarchy We categorize the inputs to the fair value measurements of financial assets and liabilities at each balance sheet reporting date using a three-tier fair value hierarchy that prioritizes the significant inputs used in measuring fair value: • Level 1 – observable inputs such as quoted prices in active markets; • Level 2 – inputs other than quoted prices in active markets that we can directly or indirectly observe to the extent that the markets are liquid for the relevant settlement periods; and • Level 3 – unobservable inputs in which little or no market data exists, therefore we must develop our own assumptions. The following table shows a breakdown by fair value hierarchy category for (1) financial instruments measurements included in our Consolidated Balance Sheets at fair value and (2) supplemental fair value disclosures for other financial instruments: December 31, 2016 Carrying Fair Value Value Total Level 1 Level 2 Level 3 Financial Instruments Recorded on Our Consolidated Balance Sheets at Fair Value: Assets from commodity derivative contracts (1) $ 21.0 $ 21.0 $ — $ 19.6 $ 1.4 Liabilities from commodity derivative contracts (1) 74.2 74.2 — 69.3 4.9 TPL contingent consideration (2) 2.6 2.6 — — 2.6 Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value: Cash and cash equivalents 73.5 73.5 — — — TRC Revolver 275.0 275.0 — 275.0 — TRC term loan 157.8 158.4 — 158.4 — TRP Revolver 150.0 150.0 — 150.0 — Partnership's Senior unsecured notes 4,057.3 4,101.6 — 4,101.6 — Partnership's accounts receivable securitization facility 275.0 275.0 — 275.0 — December 31, 2015 Carrying Fair Value Value Total Level 1 Level 2 Level 3 Financial Instruments Recorded on Our Consolidated Balance Sheets at Fair Value: Assets from commodity derivative contracts (1) $ 127.1 $ 127.1 $ — $ 123.1 $ 4.0 Liabilities from commodity derivative contracts (1) 7.6 7.6 — 7.3 0.3 TPL contingent consideration (2) 3.0 3.0 — — 3.0 Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value: Cash and cash equivalents 140.2 140.2 — — — TRC Revolver 440.0 440.0 — 440.0 — TRC term loan 157.5 158.3 — 158.3 — TRP Revolver 280.0 280.0 — 280.0 — Partnership's Senior unsecured notes 4,884.0 4,192.0 — 4,192.0 — Partnership's accounts receivable securitization facility 219.3 219.3 — 219.3 — (1) The fair value of derivative contracts in this table is presented on a different basis than the Consolidated Balance Sheets presentation as disclosed in Note 16 – Derivative Instruments and Hedging Activities. The above fair values reflect the total value of each derivative contract taken as a whole, whereas the Consolidated Balance Sheets presentation is based on the individual maturity dates of estimated future settlements. As such, an individual contract could have both an asset and liability position when segregated into its current and long-term portions for Consolidated Balance Sheets classification purposes. (2) See Note 4 – Business Acquisitions. Additional Information Regarding Level 3 Fair Value Measurements Included in Our Consolidated Balance Sheets We reported certain of our swaps and option contracts at fair value using Level 3 inputs due to such derivatives not having observable implied volatilities or 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 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 December 31, 2016, we had 17 commodity swap and option contracts categorized as Level 3. The significant unobservable inputs used in the fair value measurements of our Level 3 derivatives are (i) the forward natural gas liquids pricing curves, for which a significant portion of the derivative’s term is beyond available forward pricing and (ii) implied volatilities, which are unobservable as a result of inactive natural gas liquids options trading. The change in the fair value of Level 3 derivatives associated with a 10% change in the forward basis curve where prices are not observable is immaterial. The fair value of the contingent consideration was determined using a probability-based model measuring the likelihood of meeting certain volumetric measures. These probability-based inputs are not observable; therefore, the entire valuation of the contingent consideration is categorized in Level 3. Changes in the fair value of this liability are included in Other Income on the Consolidated Statements of Operations. The following table summarizes the changes in fair value of our financial instruments classified as Level 3 in the fair value hierarchy: Commodity Derivative Contracts Contingent Asset/(Liability) Liability Balance, December 31, 2015 $ 3.7 $ (3.0 ) Change in fair value of TPL contingent consideration - 0.4 New Level 3 instruments 0.9 - Settlements included in Revenue 0.2 - Unrealized gain/(loss) included in OCI (8.4 ) - Balance, December 31, 2016 $ (3.6 ) $ (2.6 ) For the year ended December 31, 2016, we had no transfers of financial instruments out of Level 3 and into Level 2. Historically, transfers relate to long-term over-the-counter swaps for natural gas and NGL products for which observable market prices became available for substantially their full term.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions	Note 18 — Related Party Transactions Transactions with Unconsolidated Affiliates For the years ended December 31, 2016, 2015 and 2014, transactions with GCF included in revenues were $0.4 million, $0.5 million and $0.8 million. For the same periods, transactions with GCF included in costs and expenses were $3.2 million, $5.8 million and $7.6 million. We are subject to paying a deficiency fee in instances where we do not deliver our minimum volume requirements as outlined in the partnership and fractionation agreements with GCF. We engage in the purchase and sale of residue gas and condensate with the T2 Joint Ventures. Revenue attributable to sales to T2 Eagle Ford and T2 Cogen were $4.6 million and $0.6 million for the year ended December 31, 2016 and $4.4 million and $1.4 million for the year ended December 31, 2015. Cost of sales attributable to T2 Eagle Ford were $2.6 million and $4.0 million for the years ended December 31, 2016 and 2015. Capacity lease fees paid to T2 Eagle Ford and T2 LaSalle and included in operating expenses were $3.2 million and $0.8 million for the year ended December 31, 2016 and $3.0 million and $1.3 million for the year ended December 31, 2015. These fees are billed to us based on our portion of the cost to operate each respective joint venture. As a result of this activity, we had a receivable balance with T2 Eagle Ford of $0.2 million and $0.4 million at December 31, 2016 and 2015 as well as a receivable balance with T2 Cogen of $0.1 million at December 31, 2015. Relationship with Targa Resources Partners LP We provide general and administrative and other services to the Partnership, associated with the Partnership’s existing assets and assets acquired from third parties. 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. The employees supporting the Partnership’s operations are employees of us. The Partnership reimburses us for the payment of certain operating expenses, including compensation and benefits of operating personnel assigned to the Partnership’s assets, and for the provision of various general and administrative services for the benefit of the Partnership. 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. Since October 1, 2010, after the final conveyance of assets by us to the Partnership, substantially all of our general and administrative costs have been and will continue to be allocated to the Partnership, 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. Relationship with Sajet Resources LLC Former holders of our pre-IPO common equity, including certain of our executive managers and directors, own a controlling interest in Sajet Resources LLC (“Sajet”), which was spun-off in December 2010 prior to the IPO. Sajet owns certain technology rights, real property and ownership interests in Allied CNG Ventures LLC. We provide general and administrative services to Sajet and are reimbursed for these amounts at our actual cost. Services provided to Sajet during the years ended December 31, 2016, 2015 and 2014 totaled $0.5 million, $1.1 million, and $1.4 million, respectively. Relationship with Tesla Resources LLC In September 2012, Tesla Resources LLC (“Tesla”) was spun-off from Sajet. Tesla has ownership interests in Floridian Natural Gas Storage Company LLC (“Floridian”). We provide general and administrative services to Tesla and Floridian and are reimbursed for these amounts at our actual cost. Services provided to Tesla and Floridian during the years ended December 31, 2016, 2015 and 2014 totaled $0.1 million, $0.2 million, and $0.2 million, respectively.

Commitments (Leases)

Commitments (Leases)	12 Months Ended
	Dec. 31, 2016
Leases [Abstract]
Commitments (Leases)	Note 19 — Commitments (Leases) Future lease obligations are presented below in aggregate and for each of the next five fiscal years: In Aggregate 2017 2018 2019 2020 2021 Operating leases (1) $ 37.9 $ 15.4 $ 10.8 $ 5.7 $ 3.8 $ 2.2 Land site lease and right-of-way (2) 14.2 3.2 2.8 2.8 2.7 2.7 $ 52.1 $ 18.6 $ 13.6 $ 8.5 $ 6.5 $ 4.9 (1) Includes minimum payments on lease obligations for office space, railcars and tractors. (2) Land site lease and right-of-way provides for surface and underground access for gathering, processing and distribution assets that are located on property not owned by us. These agreements expire at various dates, with varying terms, some of which are perpetual. Total expenses incurred under the above lease obligations, including short-term leases of compressors and equipment, were: 2016 2015 2014 Operating leases (1) $ 48.9 $ 46.0 $ 27.7 Land site lease and right-of-way 4.4 4.2 4.1 $ 53.3 $ 50.2 $ 31.8 (1) Includes short-term leases for items such as compressors and equipment.

Contingencies

Contingencies	12 Months Ended
	Dec. 31, 2016
Loss Contingency [Abstract]
Contingencies	Note 20 – Contingencies Legal Proceedings Litigation related to TRC/TRP Merger On December 16, 2015, two purported unitholders of TRP (the “State Court Plaintiffs”) filed a putative class action and derivative lawsuit challenging the TRC/TRP Merger against TRC, TRP (as a nominal defendant), Targa Resources GP LLC (“TRP GP”), the members of the board of TRP GP (the “TRP GP Board”) and Merger Sub (collectively, the “State Court Defendants”). This lawsuit was styled Leslie Blumberg et al. v. TRC Resources Corp., et al. th The State Court Plaintiffs alleged several causes of action challenging the TRC/TRP Merger. Generally, the State Court Plaintiffs alleged that (i) the members of the TRP GP Board breached express and/or implied duties under the Partnership Agreement and (ii) TRC, TRP GP, and Merger Sub aided and abetted in these alleged breaches of duties. The State Court Plaintiffs further alleged, in general, that (a) the premium offered to TRP’s unitholders was inadequate, (b) the TRC/TRP Merger did not include a collar to protect TRP unitholders from decreases in TRC’s stock price, (c) the TRP GP Board agreed to contractual terms that allegedly may have dissuaded other potential acquirers from seeking to acquire TRP (including the “no-solicitation,” “matching rights,” and “termination fee” provisions), (d) the process leading up to the TRC/TRP Merger was unfair, (e) the TRP GP Board had conflicts of interest due to TRC’s control of TRP GP, (f) the TRP GP Conflicts Committee’s financial advisor was conflicted and conducted flawed analyses, and (g) the joint proxy statement/prospectus filed in connection with the TRC/TRP Merger (the “Proxy”) failed to disclose allegedly material information concerning, among other things, (i) the TRC and TRP projections included in the Proxy, and (ii) the analyses conducted by the TRP GP Conflicts Committee’s financial advisor in connection with the TRC/TRP Merger. Based on these allegations, the State Court Plaintiffs sought damages and attorneys’ fees. On February 26 and 29, 2016, the State Court Defendants filed general denials and asserted affirmative defenses. On August 26, 2016, the State Court Defendants filed Special Exceptions and a Motion for Summary Judgment. On December 5, 2016, the Court granted Defendants’ Motion for Summary Judgment and dismissed the State Court Lawsuit in its entirety with prejudice. Environmental Proceedings On June 18, 2015, the New Mexico Environment Department’s Air Quality Bureau issued a Notice of Violation to Targa Midstream Services LLC for alleged violations of air emissions regulations related to emissions events that occurred at the Monument Gas Plant between June 2014 and December 2014. The Monument Gas Plant is owned by Versado Gas Processors, L.L.C., which was a joint venture in which we owned a 63% interest until October 31, 2016, when we acquired the remaining 37% membership interest from Chevron U.S.A. Inc. The Partnership has been in discussions with the New Mexico Environment Department to resolve the alleged violations. The New Mexico Environment Department has offered to settle the matter for $29,223. We and the Partnership are also parties to various legal, administrative and regulatory proceedings that have arisen in the ordinary course of our business

Significant Risks and Uncertain

Significant Risks and Uncertainties	12 Months Ended
	Dec. 31, 2016
Risks And Uncertainties [Abstract]
Significant Risks and Uncertainties	Note 21 – Significant Risks and Uncertainties Our primary business objective is to increase our available cash for dividends to our stockholders by executing our business strategy. We may facilitate the Partnership’s growth through various forms of financial support, including, but not limited to, making loans, making capital contributions in exchange for yielding or non-yielding equity interests or providing other financial support to the Partnership, if needed, to support its ability to make distributions. In addition, we may acquire assets that could be candidates for acquisition by the Partnership, potentially after operational or commercial improvement or further development. Nature of Our Operations in Midstream Energy Industry We operate in the midstream energy industry. Our business activities include gathering, processing, fractionating and storage of natural gas, NGLs and crude oil. Our results of operations, cash flows and financial condition may be affected by changes in the commodity prices of these hydrocarbon products and changes in the relative price levels among these hydrocarbon products. In general, the prices of natural gas, NGLs, condensate and other hydrocarbon products are subject to fluctuations in response to changes in supply, market uncertainty and a variety of additional factors that are beyond our control. Our profitability could be impacted by a decline in the volume of crude oil, natural gas, NGLs and condensate transported, gathered or processed at our facilities. A material decrease in natural gas or condensate production or condensate refining, as a result of depressed commodity prices, a decrease in exploration and development activities, or otherwise, could result in a decline in the volume of crude oil, natural gas, NGLs and condensate handled by our facilities. A reduction in demand for NGL products by the petrochemical, refining or heating industries, whether because of (i) general economic conditions, (ii) reduced demand by consumers for the end products made with NGL products, (iii) increased competition from petroleum-based products due to the pricing differences, (iv) adverse weather conditions, (v) government regulations affecting commodity prices and production levels of hydrocarbons or the content of motor gasoline or (vi) other reasons, could also adversely affect our results of operations, cash flows and financial position. Our principal market risks are exposure to changes in commodity prices, particularly to the prices of natural gas, NGLs and crude oil, and changes in interest rates. Commodity Price Risk A significant portion of our revenues are derived from percent-of-proceeds contracts under which we receive a portion of the natural gas and/or NGLs or equity volumes as payment for services. The prices of natural gas and NGLs are subject to fluctuations in response to changes in supply, demand, market uncertainty and a variety of additional factors beyond our control. In response to these price risks, we monitor NGL inventory levels in order to mitigate losses related to downward price exposure. In an effort to reduce the variability of our cash flows, we have entered into derivative financial instruments to hedge the commodity price associated with a significant portion of our expected natural gas, NGL and condensate equity volumes and future commodity purchases and sales through 2019. Historically, these transactions have included both swaps and purchased puts (or floors) and calls (or caps) to hedge additional expected equity commodity volumes without creating volumetric risk. We hedge a higher percentage of our expected equity volumes in the earlier future periods. With swaps, we typically receive an agreed upon fixed price for a specified notional quantity of natural gas or NGLs and pay the hedge counterparty a floating price for that same quantity based upon published index prices. Since we receive from our customers substantially the same floating index price from the sale of the underlying physical commodity, these transactions are designed to effectively lock-in the agreed fixed price in advance for the volumes hedged. In order to avoid having a greater volume hedged than actual equity volumes, we typically limit our use of swaps to hedge the prices of less than our expected natural gas and NGL equity volumes. Our commodity hedges may expose us to the risk of financial loss in certain circumstances. Counterparty Risk – Credit and Concentration Derivative Counterparty Risk Where we are exposed to credit risk in our financial instrument transactions, management analyzes the counterparty’s financial condition prior to entering into an agreement, establishes credit and/or margin limits and monitors the appropriateness of these limits on an ongoing basis. Generally, management does not require collateral and does not anticipate nonperformance by our counterparties. We have master netting provisions in the International Swap Dealers Association agreements with all of our derivative counterparties. These netting provisions allow us to net settle asset and liability positions with the same counterparties, which reduced our maximum loss due to counterparty credit risk by $21.9 million as of December 31, 2016. The range of losses attributable to our individual counterparties would be between $1.3 million and $3.8 million, depending on the counterparty in default. The credit exposure related to commodity derivative instruments is represented by the fair value of contracts with a net positive fair value, representing expected future receipts, at the reporting date. At such times, these outstanding instruments expose us to losses in the event of nonperformance by the counterparties to the agreements. Should the creditworthiness of one or more of the counterparties decline, the ability to mitigate nonperformance risk is limited to a counterparty agreeing to either a voluntary termination and subsequent cash settlement or a novation of the derivative contract to a third party. In the event of a counterparty default, we may sustain a loss and our cash receipts could be negatively impacted. Customer Credit Risk We extend credit to customers and other parties in the normal course of business. We have established various procedures to manage our credit exposure, including initial credit approvals, credit limits and terms, letters of credit, and rights of offset. We also use prepayments and guarantees to limit credit risk to ensure that our established credit criteria are met. Our allowance for doubtful accounts was $0.9 million as of December 31, 2016 and $0.1 million as of December 31, 2015. Significant Commercial Relationship During the years ended December 31, 2016, 2015 and 2014, we did not have any commercial relationships that exceeded 10% of consolidated revenues. During the year ended December 31, 2016, ONEOK Hydrocarbon L.P. and DCP NGL Services LLC each accounted for 11% of our consolidated product purchases. During the year ended December 31, 2015, ONEOK Hydrocarbon L.P. accounted for 12% of our consolidated product purchases. During the year ended December 31, 2014, we did not have any suppliers that exceeded 10% of our consolidated product purchases. Interest Rate Risk We are exposed to changes in interest rates, primarily as a result of variable rate borrowings under our and the Partnership’s credit facilities. Casualty or Other Risks We maintain coverage in various insurance programs, which provides us with property damage, business interruption and other coverages which are customary for the nature and scope of our operations. Management believes that we have adequate insurance coverage, although insurance may not cover every type of interruption that might occur. As a result of insurance market conditions, premiums and deductibles may change overtime, and in some instances, certain insurance may become unavailable, or available for only reduced amounts of coverage. As a result, we may not be able to renew existing insurance policies or procure other desirable insurance on commercially reasonable terms, if at all. If we were to incur a significant liability for which we were not fully insured, it could have a material impact on our consolidated financial position and results of operations. In addition, the proceeds of any such insurance may not be paid in a timely manner and may be insufficient if such an event were to occur. Any event that interrupts the revenues generated by us, or which causes us to make significant expenditures not covered by insurance, could reduce our ability to meet our financial obligations. Furthermore, even when a business interruption event is covered, it could affect interperiod results as we would not recognize the contingent gain until realized in a period following the incident.

Other Operating (Income) Expens

Other Operating (Income) Expense	12 Months Ended
	Dec. 31, 2016
Other Income And Expenses [Abstract]
Other Operating (Income) Expense	Note 22 – Other Operating (Income) Expense Other Operating (Income) Expense is comprised of the following: 2016 2015 2014 (Gain) loss on sale or disposal of assets $ 6.1 $ (8.0 ) $ (4.8 ) Casualty (gain) loss - (0.2 ) 0.1 Miscellaneous business tax 0.5 0.5 0.4 Other - 0.6 1.3 $ 6.6 $ (7.1 ) $ (3.0 )

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Note 23 – Income Taxes Components of the federal and state income tax provisions for the periods indicated are as follows: 2016 2015 2014 Current expense (benefit) $ (62.8 ) $ 15.0 $ 72.4 Deferred expense (benefit) (37.8 ) 24.6 (4.4 ) Total income tax expense (benefit) $ (100.6 ) $ 39.6 $ 68.0 Our deferred income tax assets and liabilities at December 31, 2016 and 2015 consist of differences related to the timing of recognition of certain types of costs as follows: 2016 2015 Deferred tax assets: Net operating loss 101.2 19.8 Tax credits 3.9 - Other 3.5 3.5 Deferred tax assets before valuation allowance $ 108.6 $ 23.3 Valuation allowance (3.5 ) (3.5 ) Deferred tax assets 105.1 19.8 Deferred tax liabilities: Investments (1) (1,002.6 ) (114.3 ) Property, plant, and equipment (25.3 ) (61.5 ) Debt-related (6.1 ) (10.0 ) Other (12.3 ) (11.8 ) Deferred tax liabilities (1,046.3 ) (197.6 ) Net deferred tax asset (liability) $ (941.2 ) (177.8 ) Net deferred tax liability Federal $ (833.2 ) $ (144.5 ) Foreign 0.6 0.6 State (108.6 ) (33.9 ) $ (941.2 ) $ (177.8 ) Balance sheet classification of deferred tax assets (liabilities) Long-term liability $ (941.2 ) $ (177.8 ) (1) Our deferred tax liability attributable to investments reflects the differences between the book and tax carrying values of our investment in the Partnership. As a result of the TRC/TRP Merger, TRC acquired all of the common units of the Partnership owned by the public. In exchange for said units, TRC transferred its stock with a fair market value as of the close of business February 16, 2016, of approximately $1.8 billion and TRC assumed TRP's liabilities of approximately $5.4 billion, resulting in a purchase price of $7.3 billion. The transaction constitutes a taxable sale which resulted in an adjustment to the tax basis in the underlying assets deemed acquired in the common partnership unit acquisition. A deferred tax liability of approximately $865 million related to the book tax basis difference in this investment has been recorded, computed as $4.1 billion book basis in excess of $1.8 billion tax basis at TRC's statutory rate of 37.34%. As part of the APL merger in 2015, we acquired TPL Arkoma Inc. a corporate subsidiary subject to federal and state income tax. Our corporate subsidiary accounts for income taxes under the asset and liability method and provides deferred income taxes for all significant temporary differences. We have net operating loss carryforwards of $232.5 million which expire in 2036. Additionally, we have $3.5 million of deferred tax assets which relate to dropdown transactions in 2010 and earlier, and resulted from differences in the date of income recognition for book and tax. The reversal of these differences will not be recognized until we sell the units of the Partnership. Therefore, a valuation allowance of $3.5 million has been recorded against these deferred tax assets. The rest of the deferred tax assets are expected to be fully utilized. Additionally, an alternative minimum tax credit of $3.9 million has been generated due to net operating loss carrybacks to 2014 and 2015. As of December 31, 2016, TPL Arkoma, Inc. had net operating loss carry forwards for federal income tax purposes of approximately $51.3 million, which expire at various dates from 2029 to 2036. Management believes it more likely than not that the deferred tax asset will be fully utilized. Set forth below is the reconciliation between our income tax provision (benefit) computed at the United States statutory rate on income before income taxes and the income tax provision in the accompanying consolidated statements of operations for the periods indicated: Income tax reconciliation: 2016 2015 2014 Income (loss) before income taxes $ (259.7 ) $ (111.8 ) $ 491.0 Less: Net income attributable to noncontrolling interest (28.2 ) 209.7 (320.7 ) Less: TPL Arkoma, Inc. income to TRC 0.8 0.5 - Less: Income taxes included in noncontrolling interest - (0.6 ) (4.2 ) Income attributable to TRC (excluding TPL Arkoma, Inc.) before income taxes (287.1 ) 97.8 166.1 Income from TPL Arkoma, Inc. (0.8 ) (7.6 ) - Income attributable to TRC and TPL Arkoma, Inc. before income taxes (287.9 ) 90.2 166.1 Federal statutory income tax rate 35 % 35 % 35 % Provision for federal income taxes (100.8 ) 31.6 58.1 State income taxes, net of federal tax benefit (6.1 ) 3.5 6.7 Amortization of deferred charge on 2010 transactions 4.7 4.7 4.7 Other, net 1.6 (0.2 ) (1.5 ) Income tax provision $ (100.6 ) $ 39.6 $ 68.0 We have not identified any uncertain tax positions. We believe that our income tax filing positions and deductions will be sustained on audit and do not anticipate any adjustments that will result in a material adverse effect on our financial condition, results of operations or cash flow. Therefore, no reserves for uncertain income tax positions have been recorded.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	12 Months Ended
	Dec. 31, 2016
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	Note 24 - Supplemental Cash Flow Information 2016 2015 2014 Cash: Interest paid, net of capitalized interest (1) $ 282.0 $ 214.1 $ 133.8 Income taxes paid, net of refunds (10.6 ) 12.6 73.4 Non-cash investing activities: Deadstock commodity inventory transferred to property, plant and equipment $ 17.4 $ 1.2 14.8 Impact of capital expenditure accruals on property, plant and equipment 27.6 43.8 19.0 Transfers from materials and supplies inventory to property, plant and equipment 2.4 3.7 4.6 Change in ARO liability and property, plant and equipment due to revised cash flow estimate (9.1 ) 3.8 2.1 Deferred revenue related to property, plant and equipment received under contract amendment — 22.6 — Non-cash financing activities: Reduction of Owner's Equity related to accrued dividends on unvested equity awards under share compensation arrangements $ 8.7 $ 1.6 0.6 Debt additions and retirements related to exchange of TRP 6 ⅝ — 342.1 — Change of accrued distributions of preferred units 0.9 — Allocation of Series A Preferred Stock net book value of BCF to additional paid-in capital 614.4 — — Accrued dividends of Series A Preferred Stock 22.9 — — Accrued deemed dividends of Series A Preferred Stock 18.2 — — Transfer within additional paid-in capital for exercise of Warrants 181.5 — — Non-cash balance sheet movements related to the TRC/TRP Merger (see Note 2 - Basis of Presentation): Prepaid transaction costs reclassified in the additional paid-in capital $ 4.5 $ — — Issuance of common stock 0.1 — Additional paid-in capital 3,207.5 — — Accumulated other comprehensive income 55.8 — Noncontrolling interests (4,119.7 ) — — Deferred tax liability 856.3 — — Non-cash balance sheet movements related to the purchase of noncontrolling interests in subsidiary (see Note 4 - Business Acquisitions) : Additional paid-in capital 65.0 — — Noncontrolling interests (65.0 ) — — Non-cash balance sheet movements related to the Atlas Merger (see Note 4 - Business Acquisitions): Non-cash merger consideration - common units and replacement equity awards $ — $ 2,436.1 $ — Non-cash merger consideration - common shares and replacement equity awards — 1,013.7 — Net non-cash balance sheet movements excluded from consolidated statements of cash flows — 3,449.8 — Net cash merger consideration included in investing activities — 1,574.4 — Total fair value of consideration transferred $ — $ 5,024.2 $ — (1) Interest capitalized on major projects was $8.3 million, $13.2 million and $16.1 million for 2016, 2015 and 2014.

Compensation Plans

Compensation Plans	12 Months Ended
	Dec. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Compensation Plans	Note 25 – Compensation Plans TRC Equity Compensation Plan In 2007, both we and the Partnership adopted Long-Term Incentive Plans (each, an “LTIP”) for employees, consultants, directors and non-employee directors of us and our affiliates who perform services for us or our affiliates. The awards under this plan included performance units, phantom units and director grants. The Partnership LTIP (“TRP LTIP”) provided for, among other things, the grant of both cash-settled and equity-settled performance units. In connection with the TRC/TRP Merger, as of February 17, 2016, we assumed, adopted, and amended the TRP LTIP, and changed the name of the plan to the Targa Resources Corp. Equity Compensation Plan (as assumed, adopted and amended, the “TRC Equity Compensation Plan” or the “Plan”), and we assumed all Partnership obligations associated with the Plan existing prior to its assumption and adoption by us. The TRC Equity Compensation Plan allows for the grant of options, performance shares, restricted stocks, replacement stocks and other stock-based awards. The termination date for this plan was February 7, 2017. Performance Units The performance units granted under the TRP LTIP were linked to the performance of the Partnership’s common units. Performance unit awards granted under either LTIP may also include distribution equivalent rights (“DERs”). The TRP LTIP was administered by the board of directors of the general part of TRP. Total units authorized under the TRP LTIP were 1,680,000. Each performance unit entitled the grantee to the value of our common unit on the vesting date multiplied by a stipulated vesting percentage determined from our ranking in a defined peer group. The performance period for most awards was three years, except for certain awards granted in December 2013, which provided for two, three or four-year vesting periods. The grantee received the vested unit value in cash or common units depending on the terms of the grant. The grantee may also be entitled to the value of any DERs based on the notional distributions accumulated during the vesting period times the vesting percentage. DERs were paid for both cash-settled and equity-settled performance units. Compensation cost for equity-settled performance units was recognized as an expense over the performance period based on fair value at the grant date. Fair value was calculated using a simulated unit price that incorporates peer ranking. DERs associated with equity-settled performance units were accrued over the performance period as a reduction of owners’ equity. We evaluated the grant date fair value using a Monte Carlo simulation model and historical volatility assumption to estimate accruals throughout the vesting period. The weighted average grant date fair value of TRP LTIP performance units granted in 2015 and 2014, were $34.48 and $57.19. Phantom Units In 2015, the Partnership granted phantom units under the LTIP to various employees of Targa. These phantom units were denominated with respect to its common units, but not otherwise linked to the performance of its common units. Their vesting periods vary from one year to five years. The DERs of the phantom units were accumulated to be paid in cash at vesting date. In 2015, the Partnership issued 25,162 phantom units with a weighted average grant date fair value of $36.87. Replacement Phantom Units In connection with the APL merger in 2015, the Partnership awarded replacement phantom units in accordance with and as required by the Atlas Merger Agreements to those APL employees who became Targa employees upon close of the acquisition. The vesting dates and terms remained unchanged from the existing APL awards, and will vest either 25% per year over the original four-year term or 33% per year over the original three-year term. The DERs of the replacement phantom units are paid in cash within 60 days of the payment of distributions. A total of 629,231 replacement phantom unit were granted in 2015 with the weighted average grant date fair value of $43.82. Partnership Director Grants Starting in 2012, the common units granted to the Partnership’s non-management directors vested immediately at the grant date. The weighted average grant date fair values of the director grants granted in 2016, 2015 and 2014 were $10.11, $44.67 and $50.29. The fair values related to the units vested were $0.3 million, $0.5 million and $0.4 million. Impact of TRC/TRP Merger The TRC/TRP Merger did not trigger the acceleration of any time-based vesting of any of the Partnership’s outstanding long-term equity incentive compensation awards under the TRP LTIP. All outstanding performance unit awards previously granted under the TRP LTIP were converted and restated into comparable awards based on Targa’s common shares. Specifically, each outstanding performance unit award was converted and restated, effective as of the effective time of the TRC/TRP Merger, into an award to acquire, pursuant to the same time-based vesting schedule and forfeiture and termination provisions, a comparable number of Targa common shares determined by multiplying the number of performance units subject to each award by the exchange ratio in the TRC/TRP Merger (0.62), rounded down to the nearest whole share, and the performance factor was eliminated. At the time of the TRC/TRP Merger and immediately prior to the assumption and adoption of the Plan, the only outstanding awards under the TRP LTIP were equity-settled performance units and certain phantom units of the Partnership. All such outstanding awards were converted into comparable time-based restricted unit awards (RSUs) based on our common stock. All amounts previously credited as distribution equivalent rights under any outstanding performance unit award continue to remain so credited and will be payable on the payment date set forth in the applicable award agreement, subject to the same time-based vesting schedule previously included in the performance unit award, but without application of any performance factor. The February 17, 2016 conversion of 675,745 equity-settled performance units and 349,541 replacement phantom units outstanding to 418,906 equity-settled performance shares and 216,561 replacement phantom shares was considered modification of awards under ASC 718, Accounting for Stock-Based Compensation In 2016, we issued 331,282 restricted stock units under the Plan which will cliff vest three years from the grant date. Of these 2016 grants, 310,809 RSUs were made in lieu of cash bonus for our non executives. The following table summarizes the restricted stock units for the year ended 2016 under the Plan: Restricted Stock Units Number Weighted-average of shares Grant-Date Fair Value Outstanding as of December 31, 2015 - $ - Converted 635,467 73.68 Granted 331,282 74.01 Forfeited (20,485 ) 26.38 Vested (245,862 ) 62.23 Outstanding as of December 31, 2016 700,402 51.52 TRC Long Term Incentive Plan The TRC LTIP is administered by the compensation committee (the “Committee”) of the Targa board of directors. Prior to the TRC/TRP Merger, the TRC LTIP provided for the grant of cash-settled performance units only. In connection with the TRC/TRP Merger, performance unit grant agreements were amended to convert TRP’s outstanding cash-settled performance unit obligation to cash-settled restricted stock units. On February 17, 2016, as a result of the TRC/TRP Merger, 451,990 of TRP’s outstanding cash-settled performance units were converted to 279,964 cash-settled restricted stock units under the TRC LTIP with performance factors eliminated. All amounts previously credited as distribution equivalent rights under any outstanding performance unit award continue to remain so credited and will be payable on the payment date set forth in the applicable award agreement, subject to the same time-based vesting schedule previously included in the performance unit award, but without application of any performance factor. The February 17, 2016 conversion of outstanding cash-settled performance units to cash-settled restricted stock units was considered modification of awards under ASC 718. The incremental change in fair value between the original grant date fair value and the fair value as of February 17, 2016 resulted in recognition of additional compensation costs during the first quarter of 2016 of $4.8 million. Compensation expense for cash-settled performance units and any related DERs will ultimately be equal to the cash paid to the grantee upon vesting. However, throughout the vesting period we must record an accrued expense based on fair value of the stock on the last business day of the quarter. The following table summarizes the cash-settled restricted stock units for the year ended 2016 under the TRC LTIP (in shares and millions of dollars). Program Year 2013 Awards 2014 Awards 2015 Awards Total Outstanding as of December 31, 2015 139,700 119,900 192,390 451,990 After conversion on February 17, 2016 86,538 74,248 119,178 279,964 Vested and paid (85,492 ) (85,492 ) Forfeited (1,046 ) (1,269 ) (2,862 ) (5,177 ) Outstanding as of December 31, 2016 — 72,979 116,316 189,295 Calculated fair market value as of December 31, 2016 $ 4,992,974 $ 7,355,790 $ 12,348,763 Current liability $ 4,143,373 $ - $ 4,143,373 Long-term liability - 3,565,135 3,565,135 Liability as of December 31, 2016 $ 4,143,373 $ 3,565,135 $ 7,708,508 To be recognized in future periods $ 849,601 $ 3,790,655 $ 4,640,255 Vesting date June 2017 June 2018 The cash settled for the awards under TRC LTIP were $4.8 million, $7.8 million and $14.7 million for 2016, 2015 and 2014. The remaining weighted average recognition period for the unrecognized compensation cost is approximately 1.3 years. 2010 TRC Stock Incentive Plan In December 2010, we adopted the Targa Resources Corp. 2010 Stock Incentive Plan (“2010 TRC Plan”) for employees, consultants and non-employee directors of the Company. The 2010 TRC Plan allows for the grant of (i) incentive stock options qualified as such under U.S. federal income tax laws (“Incentive Options”), (ii) stock options that do not qualify as incentive options (“Non-statutory Options,” and together with Incentive Options, “Options”), (iii) stock appreciation rights (“SARs”) granted in conjunction with Options or Phantom Stock Awards, (iv) restricted stock awards (“Restricted Stock Awards”), (v) phantom stock awards (“Phantom Stock Awards”), (vi) bonus stock awards, (vii) performance unit awards, or (viii) any combination of such awards (collectively referred to a “Awards”). Restricted Stock Awards - Total shares of our common stock authorized under this plan are 5,000,000. Restricted stock entitles the recipient to cash dividends. Dividends on unvested restricted stock will be accrued when declared and recorded as short-term or long-term liabilities, dependent on the time remaining until payment of the dividends, and paid in cash when the award vests. The restricted stock awards will be included in the outstanding shares of our common stock upon issuance. Restricted Stock in Lieu of Salary –During 2016, we issued on a quarterly basis, a total of 32,267 shares of restricted stock to two of our executives in lieu of all of their 2016 base salary. These awards vest one year from the date of each grant. The weighted average grant-date fair value of these shares of restricted stock was $41.43. The number of shares of restricted stock awarded was determined by dividing one-fourth of the officer’s annual base salary by the average closing price of the shares of common stock for five trading days before the end of each quarter. Director Grants – The committee awarded our common stock to our outside directors. In 2016, 2015 and 2014, we issued 24,234, 6,429 and 5,165 shares of director grants with the weighted average grant-date fair value of $16.45, $86.49 and $87.45. Restricted Stock Units Awards – RSUs are similar to restricted stock, except that shares of common stock are not issued until the RSUs vest. The vesting periods vary from one year to five years. In 2016, 2015 and 2014, we issued 1,129,705, 140,477 and 54,357 shares of RSUs with the weighted average grant-date fair value of $27.87, $83.54 and $112.89. Restricted Stock in Lieu of Bonus – During 2016, we issued 153,252 shares of restricted stock awards in lieu of cash bonus for our executives at the weighted average grant-date fair value of $26.34. These awards will cliff vest in three years. The following table summarizes the restricted stock and RSUs under the 2010 TRC Plan in shares and in dollars for the year indicated. Number Weighted Average of shares Grant-Date Fair Value Outstanding at December 31, 2015 313,362 85.70 Granted 1,186,206 28.00 Forfeited (14,989 ) 75.17 Vested (116,329 ) 58.55 Outstanding at December 31, 2016 1,368,250 $ 38.10 Stock compensation expense under our plans totaled $41.2 million, $22.8 million, and $25.4 million for the years ended December 31, 2016, 2015, and 2014. As of December 31, 2016, we have $44.8 million of unrecognized compensation expenses associated with share-based awards and an approximate remaining weighted average vesting periods of 2.3 years related to our various compensation plans. The fair values of share-based awards vested in 2016, 2015 and 2014 were $19.8 million, $31.8 million and $20.1 million. We Pursuant to ASU 2016-09, tax benefits of dividends on share-based payment awards should be recognized as income tax benefits or expenses in the income statement. We adopted the applicable amendments in the second quarter of 2016 and recognized a $0.5 million tax deficiency as an income tax expense for the year ended 2016. See Note 2 – Basis of Presentation. Subsequent Events On January 14, 2017, 22,017 shares of restricted stock units granted on January 14, 2014 vested and we repurchased 6,990 shares at $57.95 per share to satisfy the employee’s minimum statutory tax withholdings on the vested awards. In January 2017, the Committee made following awards under the 2010 TRC Plan. • 13,818 shares of our common stock to our outside directors. • 114,301 shares of restricted stock units to executive management and employees for the 2017 compensation cycle that will cliff vest three years from the grant date. • 113,901 shares of performance share units to executive management and employees for the 2017 compensation cycle that will vest on December 31, 2019. • 491,000 shares of our restricted stock units to executive management and employees. The awards will vest 30% in January 2021, 30% in January 2020 and 40% in January 2023. The performance share units granted under the 2010 TRC Plan are three-year equity-settled awards linked to the performance of shares of our common stock. The awards also include dividend equivalent rights that are based on the notional dividends accumulated during the vesting period. The vesting of the performance share units is dependent on the satisfaction of a combination of certain service-related conditions and the Company’s total shareholder return (“TSR”) relative to the TSR of the members of a specified comparator group of publicly-traded midstream companies (the “LTIP Peer Group”) measured over designated periods. The TSR performance factor is determined by the Committee at the end of the overall performance period based on relative performance over the designated weighting periods as follows: (i) 25% based on annual relative TSR for the first year; (ii) 25% based on annual relative TSR for the second year; (iii) 25% based on annual relative TSR for the third year; and (iv) the remaining 25% based on cumulative three year relative TSR over the entirety of the performance period. With respect to each weighting period, the Committee determines the “guideline performance percentage,” which could range from 0% to 250%, based upon the Company’s relative TSR performance for the applicable period. The TSR performance factor will be calculated by averaging the guideline performance percentage for each weighting period, and the average percentage may then be decreased or increased by the Committee at its discretion. The grantee will become vested in a number of performance share units equal the target number awarded multiplied by the TSR performance factor, and vested performance share units will be settled by the issuance of Company common stock. The value of dividend equivalent rights will be paid in cash. Targa 401(k) Plan We have a 401(k) plan whereby we match 100% of up to 5% of an employee’s contribution (subject to certain limitations in the plan). We also contribute an amount equal to 3% of each employee’s eligible compensation to the plan as a retirement contribution and may make additional contributions at our sole discretion. All Targa contributions are made 100% in cash. We made contributions to the 401(k) plan totaling $14.4 million, $13.8 million and $10.5 million during 2016, 2015, and 2014.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Segment Information	Note 26 — Segment Information We operate in two primary segments (previously referred to as divisions): (i) Gathering and Processing, and (ii) Logistics and Marketing (also referred to as the Downstream Business). Our reportable segments include operating segments that have been aggregated based on the nature of the products and services provided. Concurrent with the completion of the TRC/TRP Merger in the first quarter of 2016, management reevaluated our reportable segments and determined that our previously disclosed divisions are the appropriate level of aggregation for our reportable segments. The increase in activity within Field Gathering and Processing due to the Atlas mergers in 2015 coupled with the decline in activity in our Gulf Coast region makes the disaggregation of Field Gathering and Processing and Coastal Gathering and Processing no longer warranted. Management also determined that further disaggregation of our Logistics and Marketing segment is no longer appropriate due to the integrated nature of the operations within our Downstream Business Our Gathering and Processing segment includes assets used in the gathering of natural gas produced from oil and gas wells and processing this raw natural gas into merchantable natural gas by extracting NGLs and removing impurities; and assets used for crude oil gathering and terminaling. The Gathering and Processing segment's assets are located in the Permian Basin of West Texas and Southeast New Mexico; the Eagle Ford Shale in South Texas; the Barnett Shale in North Texas; the Anadarko, Ardmore, and Arkoma Basins in Oklahoma and South Central Kansas; the Williston Basin in North Dakota and in the onshore and near offshore regions of the Louisiana Gulf Coast and the Gulf of Mexico. Our Logistics and Marketing segment 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, the storage and terminaling of refined petroleum products and crude oil and certain natural gas supply and marketing activities in support of our other businesses including services to LPG exporters. It also includes certain natural gas supply and marketing activities in support of our other operations, as well as transporting natural gas and NGLs. Logistics and Marketing operations are generally connected to and supplied in part by our Gathering and Processing segments and are predominantly located in Mont Belvieu and Galena Park, Texas, Lake Charles, Louisiana and Tacoma, Washington. Other contains the results (including any hedge ineffectiveness) of commodity derivative activities included in operating margin and mark-to-market gains/losses related to derivative contracts that were not designated as cash flow hedges. Elimination of inter-segment transactions are reflected in the corporate and eliminations column. Reportable segment information is shown in the following tables: Year Ended December 31, 2016 Gathering and Processing Logistics and Marketing Other Corporate and Eliminations Total Revenues Sales of commodities $ 621.9 $ 4,942.0 $ 62.9 $ — $ 5,626.8 Fees from midstream services 486.6 577.5 — — 1,064.1 1,108.5 5,519.5 62.9 — 6,690.9 Intersegment revenues Sales of commodities 2,124.4 251.5 — (2,375.9 ) — Fees from midstream services 7.8 23.5 — (31.3 ) — 2,132.2 275.0 — (2,407.2 ) — Revenues $ 3,240.7 $ 5,794.5 $ 62.9 $ (2,407.2 ) $ 6,690.9 Operating margin $ 577.1 $ 574.4 $ 62.9 $ (0.1 ) $ 1,214.3 Other financial information: Total assets (1) $ 9,800.6 $ 2,868.7 $ 21.8 $ 180.1 $ 12,871.2 Goodwill $ 210.0 $ — $ — $ — $ 210.0 Capital expenditures $ 402.5 $ 185.3 $ — $ 4.3 $ 592.1 (1) Corporate assets at the segment level primarily include tax-related assets, cash, prepaids and debt issuance costs for our revolving credit facilities. Year Ended December 31, 2015 Gathering and Processing Logistics and Marketing Other Corporate and Eliminations Total Revenues Sales of commodities $ 1,485.4 $ 3,895.8 $ 84.2 $ — $ 5,465.4 Fees from midstream services 427.1 766.1 — — 1,193.2 1,912.5 4,661.9 84.2 — 6,658.6 Intersegment revenues Sales of commodities 1,126.3 208.9 — (1,335.2 ) — Fees from midstream services 8.7 17.8 — (26.5 ) — 1,135.0 226.7 — (1,361.7 ) — Revenues $ 3,047.5 $ 4,888.6 $ 84.2 $ (1,361.7 ) $ 6,658.6 Operating margin $ 515.1 $ 681.7 $ 84.2 $ — $ 1,281.0 Other financial information: Total assets (1) $ 10,391.9 $ 2,567.1 $ 127.1 $ 124.9 $ 13,211.0 Goodwill $ 417.0 $ — $ — $ — $ 417.0 Capital expenditures $ 496.3 $ 272.0 $ — $ 8.9 $ 777.2 Business acquisition $ 5,024.2 $ — $ — $ — $ 5,024.2 (1) Corporate assets at the segment level primarily include tax-related assets, cash, prepaids and debt issuance costs for our revolving credit facilities. Year Ended December 31, 2014 Gathering and Processing Logistics and Marketing Other Corporate and Eliminations Total Revenues Sales of commodities $ 552.4 $ 7,050.8 $ (8.0 ) $ — $ 7,595.2 Fees from midstream services 224.7 796.6 — — 1,021.3 777.1 7,847.4 (8.0 ) — 8,616.5 Intersegment revenues Sales of commodities 2,068.8 339.3 — (2,408.1 ) — Fees from midstream services 5.2 28.5 — (33.7 ) — 2,074.0 367.8 — (2,441.8 ) — Revenues $ 2,851.1 $ 8,215.2 $ (8.0 ) $ (2,441.8 ) $ 8,616.5 Operating margin $ 449.9 $ 694.7 $ (8.0 ) $ (0.1 ) $ 1,136.5 Other financial information: Total assets (1) $ 3,776.2 $ 2,476.1 $ 60.2 $ 111.0 $ 6,423.5 Capital expenditures $ 437.1 $ 304.6 $ — $ 6.1 $ 747.8 (1) Corporate assets at the segment level primarily include tax-related assets, cash, prepaids and debt issuance costs for our revolving credit facilities. The following table shows our consolidated revenues by product and service for the periods presented: 2016 2015 2014 Sales of commodities: Natural gas $ 1,584.5 $ 1,578.6 $ 1,414.1 NGL 3,777.3 3,558.3 5,960.1 Condensate 133.9 142.4 134.3 Petroleum products 68.2 101.6 96.3 Derivative activities 62.9 84.5 (9.6 ) 5,626.8 5,465.4 7,595.2 Fees from midstream services: Fractionating and treating 126.2 209.0 208.9 Storage, terminaling, transportation and export 420.0 506.2 548.1 Gathering and processing 445.0 393.7 196.9 Other 72.9 84.3 67.4 1,064.1 1,193.2 1,021.3 Total revenues $ 6,690.9 $ 6,658.6 $ 8,616.5 The following table shows a reconciliation of operating margin to net income (loss) for the periods presented: 2016 2015 2014 Reconciliation of operating margin to net income (loss): Operating margin $ 1,214.3 $ 1,281.0 $ 1,136.5 Depreciation and amortization expenses (757.7 ) (677.1 ) (351.0 ) General and administrative expenses (187.2 ) (161.7 ) (148.0 ) Goodwill impairment (207.0 ) (290.0 ) — Interest expense, net (254.2 ) (231.9 ) (147.1 ) Other, net (67.9 ) (32.1 ) 0.6 Income tax (expense) benefit 100.6 (39.6 ) (68.0 ) Net income (loss) $ (159.1 ) $ (151.4 ) $ 423.0

Selected Quarterly Financial Da

Selected Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2016
Selected Quarterly Financial Information [Abstract]
Selected Quarterly Financial Data (Unaudited)	Note 27 — Selected Quarterly Financial Data (Unaudited) Our results of operations by quarter for the years ended December 31, 2016 and 2015 were as follows: First Quarter Second Quarter Third Quarter Fourth Quarter Total 2016 Revenues $ 1,442.4 $ 1,583.6 $ 1,652.3 $ 2,012.6 $ 6,690.9 Gross margin 431.4 438.4 429.6 468.6 1,768.0 Income from operations (1)(2) 35.5 66.3 51.6 (97.6 ) 55.8 Net income (loss) (0.7 ) (14.6 ) (3.2 ) (140.6 ) (159.1 ) Net income (loss) attributable to common shareholders (6.5 ) (52.6 ) (39.4 ) (179.6 ) (278.1 ) Net income (loss) per common share - basic (0.06 ) (0.33 ) (0.23 ) (1.18 ) (1.80 ) Net income (loss) per common share - diluted (0.06 ) (0.33 ) (0.23 ) (1.18 ) (1.80 ) 2015 Revenues $ 1,679.7 $ 1,699.4 $ 1,632.1 $ 1,647.4 $ 6,658.6 Gross margin 421.1 471.3 468.8 459.8 1,821.0 Income (loss) from operations (3)(4) 138.5 112.4 115.3 (206.9 ) 159.3 Net income (loss) 35.9 23.8 20.8 (231.9 ) (151.4 ) Net income attributable to common shareholders 3.4 15.2 12.7 27.0 58.3 Net income per common share - basic 0.07 0.27 0.23 0.48 1.09 Net income per common share - diluted 0.07 0.27 0.23 0.48 1.09 (1) Includes an additional goodwill impairment of $24.0 million in the first quarter of 2016. See Note 7 – Goodwill. (2) Includes a goodwill impairment of $183.0 million in the fourth quarter of 2016. See Note 7 – Goodwill. (3) Includes $32.6 million of impairment losses in the fourth quarter of 2015. See Note 6 – Property, Plant and Equipment and Intangible Assets. (4) Includes a provisional goodwill impairment of $290.0 million in the fourth quarter of 2015. See Note 7 – Goodwill.

Condensed Parent Only Financial

Condensed Parent Only Financial Statements	12 Months Ended
	Dec. 31, 2016
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
Condensed Parent Only Financial Statements	Note 28— Condensed Parent Only Financial Statements The condensed parent only financial statements represent the financial information required by Rule 5-04 of the Securities and Exchange Commission Regulation S-X for Targa Resources Corp. In the condensed financial statements, Targa’s investments in consolidated subsidiaries are presented under the equity method of accounting. Under this method, the assets and liabilities of affiliates are not consolidated. The investments in net assets of the consolidated subsidiaries are recorded in the balance sheets. The income (loss) from operations of the consolidated subsidiaries is reported as equity in income (loss) of consolidated subsidiaries. Other comprehensive income has been adjusted for Targa’s share of the investees’ currently reported other comprehensive income. A substantial amount of Targa’s operating, investing and financing activities are conducted by its affiliates. The condensed financial statements should be read in conjunction with Targa’s consolidated financial statements, which begin on page F-1 in this Annual Report. TARGA RESOURCES CORP. PARENT ONLY CONDENSED BALANCE SHEETS December 31, 2016 2015 ASSETS Investment in consolidated subsidiaries $ 5,840.2 $ 1,999.4 Deferred income taxes 54.5 43.7 Debt issuance costs 6.5 8.6 Other long-term assets - 4.5 Total assets $ 5,901.2 $ 2,056.2 LIABILITIES, SERIES A PREFERRED STOCK AND OWNERS' EQUITY Accrued current liabilities $ 23.6 $ 1.2 Long-term debt 429.0 593.1 Other long-term liabilities 9.2 0.5 Contingencies Series A Preferred 9.5% Stock, net of discount 190.8 - Targa Resources Corp. stockholders' equity 5,248.6 1,461.4 Total liabilities, Series A Preferred Stock and owners' equity $ 5,901.2 $ 2,056.2 TARGA RESOURCES CORP. PARENT ONLY CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) Year Ended December 31, 2016 2015 2014 Equity in net income (loss) of consolidated subsidiaries $ (167.3 ) $ 87.6 $ 109.8 General and administrative expenses (10.0 ) (8.0 ) (8.3 ) Income (loss) from operations (177.3 ) 79.6 101.5 Other income (expense): Loss on debt extinguishment - (12.9 ) - Interest expense (20.8 ) (24.2 ) (3.2 ) Other income (expense) - - - Income (loss) before income taxes (198.1 ) 42.5 98.3 Deferred income tax (expense) benefit 10.8 15.8 4.0 Net income (loss) attributable to Targa Resources Corp. (187.3 ) 58.3 102.3 Other comprehensive income (loss) (99.8 ) 0.9 5.3 Total comprehensive income (loss) $ (287.1 ) $ 59.2 $ 107.6 Dividends on Series A preferred stock 72.6 - - Deemed dividends 18.2 - - Net income (loss) attributable to common shareholders (278.1 ) 58.3 102.3 Net income (loss) attributable to Targa Resources Corp. $ (187.3 ) $ 58.3 $ 102.3 TARGA RESOURCES CORP. PARENT ONLY CONDENSED STATEMENTS OF CASH FLOWS Year Ended December 31, 2016 2015 2014 Net cash provided by (used in) operating activities $ 125.3 $ 62.6 $ (1.3 ) Cash Flow from Investing activities: Outlays for business acquisitions, net of cash acquired - (745.7 ) - Distribution and return of advances from consolidated subsidiaries (921.0 ) 60.8 97.3 Net cash provided by (used in) investing activities (921.0 ) (684.9 ) 97.3 Cash Flow from Financing activities: Proceeds from long-term debt borrowings 612.0 914.5 92.0 Repayments of long-term debt (777.0 ) (424.0 ) (74.0 ) Costs incurred in connection with financing arrangements (41.3 ) (22.5 ) - Proceeds from issuance of common stock, preferred stock and warrants 1,571.4 335.5 - Repurchase of common stock (3.5 ) (3.3 ) - Dividends paid to common and preferred shareholders (565.9 ) (179.0 ) (113.0 ) Excess tax benefit from stock-based awards - 1.1 (1.0 ) Net cash provided by (used in) financing activities 795.7 622.3 (96.0 ) Net increase (decrease) in cash and cash equivalents - - - Cash and cash equivalents - beginning of year - - - Cash and cash equivalents - end of year $ - $ - $ -

Significant Accounting Polici36

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Consolidation Policy	Consolidation Policy Our consolidated financial statements include our accounts and those of our subsidiaries in which we have a controlling interest. We hold varying undivided interests in various gas processing facilities in which we are responsible for our proportionate share of the costs and expenses of the facilities. Our consolidated financial statements reflect our proportionate share of the revenues, expenses, assets and liabilities of these undivided interests. We follow the equity method of accounting when we do not exercise control over the investee, but we can exercise significant influence over the operating and financial policies of the investee. Under this method, our equity investments are carried originally at our acquisition cost, increased by our proportionate share of the investee’s net income and by contributions made, and decreased by our proportionate share of the investee’s net losses and by distributions received.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in these financial statements and accompanying notes. Estimates and judgments are based on information available at the time such estimates and judgments are made. Adjustments made with respect to the use of these estimates and judgments often relate to information not previously available. Uncertainties with respect to such estimates and judgments are inherent in the preparation of financial statements. Estimates and judgments are used in, among other things, (1) estimating unbilled revenues, product purchases and operating and general and administrative costs, (2) developing fair value assumptions, including estimates of future cash flows and discount rates, (3) analyzing goodwill and long-lived assets for possible impairment, (4) estimating the useful lives of assets, (5) determining amounts to accrue for contingencies, guarantees and indemnifications and (6) estimating redemption value of mandatorily redeemable preferred interests. Actual results, therefore, could differ materially from estimated amounts.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include all cash on hand, demand deposits, and investments with original maturities of three months or less. We consider cash equivalents to include short-term, highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value. Checks outstanding at the end of a period are reclassified to accounts payable, as we extinguish liabilities when the creditor receives our payment and we are relieved of our obligation (which generally occurs when our bank honors that check).
Comprehensive Income	Comprehensive Income Comprehensive income includes net income and other comprehensive income (“OCI”), which includes changes in the fair value of derivative instruments that are designated as cash flow hedges.
Allowance for Doubtful Accounts	Allowance for Doubtful Accounts Estimated losses on accounts receivable are provided through an allowance for doubtful accounts. In evaluating the adequacy of the allowance, we make judgments regarding each party’s ability to make required payments, economic events and other factors. As the financial condition of any party changes, circumstances develop or additional information becomes available, adjustments to an allowance for doubtful accounts may be required.
Inventories	Inventories Our inventories consist primarily of NGL product inventories. Most NGL product inventories turn over monthly, but some inventory, primarily propane, is acquired and held during the year to meet anticipated heating season requirements of our customers. NGL product inventories are valued at the lower of cost or market using the average cost method. Commodity inventories that are not physically or contractually available for sale under normal operations (“deadstock”) are classified as Property, Plant and Equipment. Inventories also include materials and supplies required for our Badlands expansion activities in North Dakota, which are valued at cost using the specific identification method.
Product Exchanges	Product Exchanges Exchanges of NGL products are executed to satisfy timing and logistical needs of the exchange parties. Volumes received and delivered under exchange agreements are recorded as inventory. If the locations of receipt and delivery are in different markets, an exchange differential may be billed or owed. The exchange differential is recorded as either accounts receivable or accrued liabilities.
Gas Processing Imbalances	Gas Processing Imbalances Quantities of natural gas and/or NGLs over-delivered or under-delivered related to certain gas plant operational balancing agreements are recorded monthly as inventory or as a payable using the weighted average price at the time the imbalance was created. Inventory imbalances receivable are valued at the lower of cost or market using the average cost method; inventory imbalances payable are valued at replacement cost. These imbalances are settled either by current cash-out settlements or by adjusting future receipts or deliveries of natural gas or NGLs.
Derivative Instruments	Derivative Instruments We utilize derivative instruments to manage the volatility of cash flows due to fluctuating energy prices and interest rates. All derivative instruments not qualifying for the normal purchase and normal sale exception are recorded on the balance sheets at fair value. The treatment of the periodic changes in fair value will depend on whether the derivative is designated and effective as a hedge for accounting purposes. We have designated certain liquids marketing contracts that meet the definition of a derivative as normal purchases and normal sales, which under GAAP, are not accounted for as derivatives. As a result, the revenues and expenses associated with such contracts are recognized during the period when volumes are physically delivered or received. If a derivative qualifies for hedge accounting and is designated as a cash flow hedge, the effective portion of the change in fair value of the derivative is deferred in Accumulated Other Comprehensive Income (“AOCI”), a component of owners’ equity, and reclassified to earnings when the forecasted transaction occurs. Cash flows from a derivative instrument designated as a hedge are classified in the same category as the cash flows from the item being hedged. As such, we include the cash flows from commodity derivative instruments in revenues and from interest rate derivative instruments in interest expense. If a derivative does not qualify as a hedge or is not designated as a hedge, the gain or loss resulting from the change in fair value on the derivative is recognized currently in earnings as a component of revenues. We formally document all relationships between hedging instruments and hedged items, as well as its risk management objectives and strategy for undertaking the hedge. This documentation includes the specific identification of the hedging instrument and the hedged item, the nature of the risk being hedged and the manner in which the hedging instrument’s effectiveness will be assessed. At the inception of the hedge, and on an ongoing basis, we assess whether the derivatives used in hedging transactions are highly effective in offsetting changes in cash flows of hedged items. The relationship between the hedging instrument and the hedged item must be highly effective in achieving the offset of changes in cash flows attributable to the hedged risk both at the inception of the contract and on an ongoing basis. We measure hedge ineffectiveness on a quarterly basis and reclassify any ineffective portion of the gain or loss related to the change in fair value to earnings in the current period. We will discontinue hedge accounting on a prospective basis when a hedge instrument is terminated or ceases to be highly effective. Gains and losses deferred in AOCI related to cash flow hedges for which hedge accounting has been discontinued remain deferred until the forecasted transaction occurs. If it is no longer probable that a hedged forecasted transaction will occur, deferred gains or losses on the hedging instrument are reclassified to earnings immediately. For balance sheet classification purposes, we analyze the fair values of the derivative instruments on a contract by contract basis and report the related fair values and any related collateral by counterparty on a gross basis.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment are stated at acquisition value less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Expenditures for maintenance and repairs are expensed as incurred. Expenditures to refurbish assets that extend the useful lives or prevent environmental contamination are capitalized and depreciated over the remaining useful life of the asset or major asset component. We also capitalize certain costs directly related to the construction of assets, including internal labor costs, interest and engineering costs. The determination of the useful lives of property, plant and equipment requires us to make various assumptions, including the supply of and demand for hydrocarbons in the markets served by our assets, normal wear and tear of the facilities, and the extent and frequency of maintenance programs. We evaluate the recoverability of our property, plant and equipment when events or circumstances such as economic obsolescence, the business climate, legal and other factors indicate we may not recover the carrying amount of the assets. Asset recoverability is measured by comparing the carrying value of the asset (asset group) with the asset’s (asset group’s) expected future pre-tax undiscounted cash flows. These cash flow estimates require us to make projections and assumptions for many years into the future for pricing, demand, competition, operating cost and other factors. If the carrying amount exceeds the expected future undiscounted cash flows we recognize increased depreciation expense equal to the excess of net book value over fair value as determined by quoted market prices in active markets or present value techniques if quotes are unavailable. The determination of the fair value using present value techniques requires us to make projections and assumptions regarding the probability of a range of outcomes and the rates of interest used in the present value calculations. Any changes we make to these projections and assumptions could result in significant revisions to our evaluation of recoverability of our property, plant and equipment and the recognition of additional depreciation expense due to impairment. Upon disposition or retirement of property, plant and equipment, any gain or loss is recorded to operations.
Goodwill	Goodwill Goodwill is a residual intangible asset that results when the cost of an acquisition exceeds the fair value of the net identifiable assets of the acquired business. Goodwill is not amortized, but is assessed annually to determine whether its carrying value has been impaired. Goodwill must be assigned to reporting units for the purpose of impairment testing. A reporting unit is an operating segment or one level below an operating segment (also known as a component). Our annual goodwill impairment test is performed as of November 30, as well as whenever events or changes in circumstances indicate it is more likely than not that the fair value of the reporting unit is less than the carrying amount. Prior to us conducting the goodwill impairment test, to the extent triggering events exist, we complete a review of the carrying values of our long-lived assets, including property, plant and equipment and other intangible assets, and if it is determined that the carrying values are not recoverable, we reduce the carrying values of the long-lived assets pursuant to our policy on property, plant and equipment. The annual goodwill impairment test typically entails performing a two-step goodwill impairment test. However, we are permitted to first assess qualitative factors to determine if the two-step goodwill impairment test is necessary. If we choose to bypass this qualitative assessment or otherwise determine that a two-step goodwill impairment test is required, the first step involves comparing the estimated fair value of the reporting unit to its carrying amount, including goodwill. If the carrying amount of a reporting unit exceeds its fair value, the second step is required and involves comparing the implied fair value of goodwill to the carrying value of goodwill for that reporting unit. The implied fair value of goodwill is determined by assigning the reporting unit’s fair value to its individual assets and liabilities. If the carrying value of goodwill assigned to a reporting unit exceeds the implied fair value of that goodwill, the excess of the carrying value over the implied fair value is recognized as a goodwill impairment loss on our Consolidated Statements of Operations and a corresponding reduction of goodwill on our Consolidated Balance Sheets.
Intangible Assets	Intangible Assets Intangible assets arose from producer dedications under long-term contracts and customer relationships associated with business acquisitions. The fair value of these acquired intangible assets was determined at the date of acquisition based on the present value of estimated future cash flows. Amortization expense attributable to these assets is recorded on a straight-line basis or, where more appropriate, in a manner that closely resembles the expected pattern in which we benefit from services provided to customers.
Asset Retirement Obligations	Asset Retirement Obligations We record the fair value of estimated asset retirement obligations (“AROs”) associated with tangible long-lived assets. Retirement obligations associated with long-lived assets are recognized for those for which there is a legal obligation to settle under existing or enacted law, statute, written or oral contract or by legal construction. These obligations, which are estimated based on discounted cash flow estimates, are accreted to full value over time as a period cost. In addition, asset retirement costs are capitalized as part of the related asset’s carrying value and are depreciated over the asset’s respective useful life. At least annually, we review the projected timing and amount of asset retirement obligations. Changes resulting from revisions to the timing or the amount of the undiscounted cash flows are recognized as an increase or decrease in the carrying amount of the retirement obligation and the related asset retirement cost capitalized as part of the carrying amount of the related long-lived asset. Upon settlement, any difference between the recorded amount and the actual settlement cost will be recognized at a gain or loss.
Debt Issuance Costs	Debt Issuance Costs Costs incurred in connection with the issuance of long-term debt are deferred and charged to interest expense over the term of the related debt. Debt issuance costs related to revolving credit facilities are presented as other long-term assets and debt issuance costs related to other long-term debt are reflected as a deduction from the carrying amount of other long-term debt in the Consolidated Balance Sheets.
Accounts Receivable Securitization Facility	Accounts Receivable Securitization Facility Proceeds from the sale or contribution of certain receivables under the Partnership’s accounts receivable securitization facility (the “Securitization Facility”) are treated as collateralized borrowings in our financial statements. Proceeds and repayments under the Securitization Facility are reflected as cash flows from financing activities on our Consolidated Statements of Cash Flows.
Environmental Liabilities and Other Loss Contingencies	Environmental Liabilities and Other Loss Contingencies Liabilities for loss contingencies, including environmental remediation costs arising from claims, assessments, litigation, fines, penalties and other sources are charged to expense when it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated.
Income Taxes	Income Taxes We account for income taxes using the asset and liability method of accounting for deferred income taxes and provide deferred income taxes for all significant temporary differences. As part of the process of preparing our consolidated financial statements, we are required to estimate our income taxes in each of the jurisdictions in which we operate. This process involves estimating our actual current tax payable and related tax expense together with assessing temporary differences resulting from differing treatment of certain items, such as depreciation, for tax and accounting purposes. These differences can result in deferred tax assets and liabilities, which are included within our Consolidated Balance Sheets. We must then assess the likelihood that our deferred tax assets will be recovered from future taxable income and, to the extent we believe that it is more likely than not (a likelihood of more than 50%) that some portion or all of the deferred tax assets will not be realized, we establish a valuation allowance. Any change in the valuation allowance would impact our income tax provision and net income in the period in which such a determination is made. We consider all available evidence, both positive and negative, to determine whether, based on the weight of the evidence, a valuation allowance is needed. Evidence used includes information about our current financial position and our results of operations for the current and preceding years, as well as all currently available information about future years, including our anticipated future performance, the reversal of deferred tax liabilities and tax planning strategies. We believe future sources of taxable income, reversing temporary differences and other tax planning strategies will be sufficient to realize deferred tax assets, and therefore no valuation allowance has been established.
Noncontrolling Interests	Noncontrolling Interests Third-party ownership (other than mandatorily redeemable interests) in the net assets of our consolidated subsidiaries is shown as noncontrolling interests within the equity section of the Consolidated Balance Sheets. In the Consolidated Statements of Operations and Consolidated Statements of Comprehensive Income, noncontrolling interests reflects the attribution of results to third-party investors.
Mandatorily Redeemable Preferred Interests	Mandatorily Redeemable Preferred Interests Mandatorily redeemable preferred interests are included in other long term liabilities (or assets) on our Consolidated Balance Sheets. Mandatorily redeemable preferred interests with multiple or indeterminate redemption dates are reported at their estimated redemption value as of the reporting date. This point-in-time value does not represent the amount that ultimately would become payable (or receivable) in the future when the interests are redeemed. Changes in the redemption value are recorded in interest expense, net on our Consolidated Statements of Operations.
Revenue Recognition	Revenue Recognition Our operating revenues are primarily derived from the following activities: • sales of natural gas, NGLs, condensate, crude oil and petroleum products; • services related to compressing, gathering, treating, and processing of natural gas; and • services related to NGL fractionation, terminaling and storage, transportation and treating. We recognize revenues when all of the following criteria are met: (1) persuasive evidence of an exchange arrangement exists, if applicable, (2) delivery has occurred or services have been rendered, (3) the price is fixed or determinable and (4) collectability is reasonably assured. For natural gas processing activities, we receive either fees and/or a percentage of proceeds from commodity sales as payment for these services, depending on the type of contract. Under fee-based contracts, we receive a fee based on throughput volumes. Under percent-of-proceeds contracts, we receive either an agreed upon percentage of the actual proceeds we receive from our sales of the residue natural gas and NGLs or an agreed upon percentage based on index related prices for the natural gas and NGLs. Typically, our percent-of-proceeds contracts also include a fee-based component. We generally report sales revenues gross in our Consolidated Statements of Operations, as we typically act as the principal in the transactions where we receive commodities, take title to the natural gas and NGLs, and incur the risks and rewards of ownership. However, buy-sell transactions that involve purchases and sales of inventory with the same counterparty that are legally contingent or in contemplation of one another are reported as a single transaction on a combined net basis. We have certain long-term contractual arrangements under which we have received consideration, but which require future performance by Targa. These arrangements result in deferred revenue, which will be recognized as revenue during the periods that services will be provided. Deferred revenue is included in Other long-term liabilities on our Consolidated Balance Sheets.
Share-Based Compensation	Share-Based Compensation We award share-based compensation to employees, directors and non-management directors in the form of restricted stock, restricted stock units, stock options and performance units. Compensation expense on restricted common units and performance unit awards that qualify as equity arrangements are measured by the fair value of the award as determined at the date of grant. Compensation expense on performance unit awards that qualify as liability arrangements is initially measured by the fair value of the award at the date of grant, and re-measured subsequently at each reporting date through the settlement period. Compensation expense is recognized in general and administrative expense over the requisite service period of each award. We may withhold shares to satisfy employees’ tax withholding obligations on vested awards. The withheld shares are recorded by us in treasury stock at cost.
Earnings per Share	Earnings per Share We account for earnings per share (“EPS”) in accordance with Accounting Standards Codification (“ASC”) Topic 260 – Earnings per Share. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock so long as it does not have an anti-dilutive effect on EPS. The dilutive effect is determined through the application of the treasury method. Securities that meet the definition of a participating security are required to be considered for inclusion in the computation of basic EPS.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Revenue from Contracts with Customers In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) Revenue Recognition Other Assets and Deferred Costs – Contracts with Customers With the issuance in August 2015 of ASU 2015-14 , Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, In March 2016, the FASB issued ASU 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations In April 2016, the FASB issued ASU 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing In May 2016, the FASB issued ASU 2016-12, Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients In December 2016, the FASB issued ASU 2016-20, Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers We expect to adopt this new revenue recognition standard on January 1, 2018, presenting a cumulative effect adjustment in the period the standard is adopted. We also anticipate electing the practical expedient to apply the guidance retrospectively to only those contracts that are not completed contracts at the date of initial application. We are continuing to evaluate the effect of the standard on our , including accounting associated with contracts containing noncash consideration and variable consideration, the effect of ASU 2016-20 on our disclosure requirements, and how the standard would impact our current revenue recognition and disclosure policies upon adoption. Consolidation In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis Presentation of Debt Issuance Costs In April 2015, the FASB issued ASU 2015-03, Interest – Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs Leases In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) We expect to adopt the amendments in the first quarter of 2019 and are currently evaluating the impacts of the amendments to our consolidated financial statements and accounting practices for leases. Share-Based Compensation In March 2016, the FASB issued ASU 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting We adopted the applicable amendments in the second quarter of 2016 and have applied the guidance as of January 1, 2016. Amendments related to the timing of when excess tax benefits and deficiencies are recognized, minimum statutory withholding requirements, and forfeitures have been applied using a modified retrospective transition method but resulted in no cumulative effect adjustment to equity. The amendment related to the presentation of employee taxes paid on the statement of cash flows when an employer withholds shares to meet the minimum statutory withholding requirement had no impact as we previously classified these payments as a financing activity and continue to do so. The amendment requiring recognition of excess tax benefits and tax deficiencies in the income statement has been applied prospectively. We have elected to apply the amendment related to the presentation of excess tax benefits and deficiencies on the statement of cash flows on a prospective basis and prior periods have not been adjusted. We recognized $0.5 million of excess tax deficiencies in income tax expense for the year ended December 31, 2016. Our diluted earnings per share calculation has been adjusted for the year ended December 31, 2016, to exclude windfall tax benefits in assumed proceeds under the treasury stock method. In addition, we have elected to account for forfeitures as they occur. Measurement of Credit Losses on Financial Instruments In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. Cash Flow Classification In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force) Recognition of Intra-Entity Transfers of Assets Other than Inventory In October 2016, the FASB issued ASU 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other than Inventory Business Combinations In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business Goodwill Impairment In January 2017, FASB issued ASU 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment

Basis of Presentation (Tables)

Basis of Presentation (Tables)	12 Months Ended
	Dec. 31, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Summary of Financial Effects of TRC/TRP Merger	The following table summarizes the financial effects of the TRC/TRP Merger: Common shares Additional paid-in capital Retained earnings Accumulated other comprehensive income (loss) TRC's stockholders' equity Noncontrolling interests (1) Total owners' equity Shares issued for the Merger $ 0.1 $ 1,803.0 $ — $ — $ 1,803.1 $ (4,119.7 ) $ (2,316.6 ) Impact of NCI acquisition on TRC owners' equity — 2,226.7 — 89.9 2,316.6 — 2,316.6 Deferred tax adjustments — (831.0 ) — (34.1 ) (865.1 ) — (865.1 ) Transaction costs, net of tax — (15.0 ) — — (15.0 ) — (15.0 ) Acquisition of TRP noncontrolling common interests $ 0.1 $ 3,183.7 $ — $ 55.8 $ 3,239.6 $ (4,119.7 ) $ (880.1 ) Reflects the February 17, 2016 book value of the publicly held interests in TRP.
Impact of Revisions to Activity Reported in Consolidated Statements of Comprehensive Income (Loss)	The following table displays the impact of these revisions to activity reported in our Consolidated Statements of Comprehensive Income (Loss) during the year ended December 31, 2015: Year Ended December 31, 2015 As Reported As Corrected Pre-Tax Related Income Tax After Tax Pre-Tax Related Income Tax After Tax Targa Resources Corp. Commodity hedging contracts: Change in fair value $ 7.4 $ (2.8 ) $ 4.6 $ 11.0 $ (4.2 ) $ 6.8 Settlements reclassified to revenues (5.9 ) 2.2 (3.7 ) (9.5 ) 3.6 (5.9 ) Other comprehensive income (loss) attributable to Targa Resources Corp. 1.5 (0.6 ) 0.9 1.5 (0.6 ) 0.9 Noncontrolling interests Commodity hedging contracts: Change in fair value 73.8 - 73.8 101.7 - 101.7 Settlements reclassified to revenues (48.9 ) - (48.9 ) (76.8 ) - (76.8 ) Other comprehensive income (loss) attributable to noncontrolling interests 24.9 - 24.9 24.9 - 24.9 Total Commodity hedging contracts: Change in fair value 81.2 (2.8 ) 78.4 112.7 (4.2 ) 108.5 Settlements reclassified to revenues (54.8 ) 2.2 (52.6 ) (86.3 ) 3.6 (82.7 ) Other comprehensive income (loss) $ 26.4 $ (0.6 ) $ 25.8 $ 26.4 $ (0.6 ) $ 25.8

Business Acquisitions (Tables)

Business Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2016
Business Combinations [Abstract]
Pro Forma Consolidated Results of Operations	The following summarized unaudited pro forma Consolidated Statement of Operations information for the year ended December 31, 2015 assumes that the Partnership’s acquisition of APL and our acquisition of ATLS had occurred as of January 1, 2014. We prepared the following summarized unaudited pro forma financial results for comparative purposes only. The summarized unaudited pro forma financial results may not be indicative of the results that would have occurred if we had completed these acquisitions as of January 1, 2014, or that the results that will be attained in the future. Amounts presented below are in millions. December 31, 2015 Pro Forma Revenues $ 6,947.3 Net income (169.6 )
Consideration Transferred to Acquire ATLS and APL	The following table summarizes the consideration transferred to acquire ATLS and APL, which are viewed together as a single integrated transaction for GAAP reporting purposes: Fair Value of Consideration Transferred: Cash paid, net of cash acquired (1): TRC $ 745.7 TRP 828.7 Common shares of TRC 1,008.5 Replacement restricted stock units awarded (2) 5.2 Common units of TRP 2,421.1 Replacement phantom units awarded (2) 15.0 Total $ 5,024.2 (1) Net of cash acquired of $40.8 million. (2) The fair value of consideration transferred in the form of replacement restricted stock unit awards and replacement phantom unit awards represent the allocation of the fair value of the awards to the pre-combination service period. The fair value of the awards associated with the post-combination service period will be recognized over the remaining service period of the award.
Fair Value Determination Related to the Atlas Mergers	Our final fair value determination related to the Atlas mergers was as follows: Fair value determination: February 27, 2015 Trade and other current receivables, net $ 181.1 Other current assets 24.4 Assets from risk management activities 102.1 Property, plant and equipment 4,616.9 Investments in unconsolidated affiliates 214.5 Intangible assets 1,354.9 Other long-term assets 5.5 Current liabilities (259.3 ) Long-term debt (1,573.3 ) Deferred income tax liabilities, net (13.6 ) Other long-term liabilities (119.1 ) Total identifiable net assets 4,534.1 Noncontrolling interest in subsidiaries (216.9 ) Goodwill 707.0 Total fair value of consideration transferred $ 5,024.2

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2016
Inventory Disclosure [Abstract]
Components of Inventories	December 31, 2016 December 31, 2015 Commodities $ 126.9 $ 128.3 Materials and supplies 10.8 12.7 $ 137.7 $ 141.0

Property, Plant and Equipment40

Property, Plant and Equipment and Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2016
Property Plant And Equipment And Intangible Assets [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment December 31, 2016 December 31, 2015 Estimated Useful Lives (In Years) Gathering systems $ 6,626.8 $ 6,304.5 5 to 20 Processing and fractionation facilities 3,390.2 2,995.2 5 to 25 Terminaling and storage facilities 1,205.0 1,115.0 5 to 25 Transportation assets 451.4 454.0 10 to 25 Other property, plant and equipment 274.2 221.1 3 to 25 Land 121.3 108.8 — Construction in progress 449.8 736.5 — Property, plant and equipment 12,518.7 11,935.1 Accumulated depreciation (2,827.7 ) (2,232.4 ) Property, plant and equipment, net $ 9,691.0 $ 9,702.7 Intangible assets $ 2,036.6 $ 2,036.6 20 Accumulated amortization (382.6 ) (226.5 ) Intangible assets, net $ 1,654.0 $ 1,810.1
Schedule of Changes in Intangible Assets	The changes in our intangible assets are as follows: December 31, 2016 December 31, 2015 Beginning of period $ 1,810.1 $ 591.9 Additions from acquisition — 1,354.9 Amortization (156.1 ) (136.7 ) Intangible assets, net $ 1,654.0 $ 1,810.1

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
	Dec. 31, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Changes in Gross Amounts of Goodwill	Changes in the gross amounts of our goodwill are as follows: WestTX SouthTX SouthOK Total Balance at January 1, 2015 $ — $ — $ — $ — Acquisition, February 27, 2015 364.5 160.3 182.2 707.0 Provisional impairment for 2015 annual assessment (37.6 ) (70.2 ) (182.2 ) (290.0 ) Balance at December 31, 2015 326.9 90.1 — 417.0 Additional impairment for 2015 annual assessment (14.4 ) (9.6 ) — (24.0 ) Impairment for 2016 annual assessment (137.8 ) (45.2 ) — (183.0 ) Balance at December 31, 2016 $ 174.7 $ 35.3 $ — $ 210.0

Investments in Unconsolidated42

Investments in Unconsolidated Affiliates (Tables)	12 Months Ended
	Dec. 31, 2016
Equity Method Investments And Joint Ventures [Abstract]
Activity Related to Partnership's Investments in Unconsolidated Affiliates	The following table shows the activity related to our investments in unconsolidated affiliates: GCF T2 LaSalle T2 Eagle Ford T2 EF Cogen Total Balance at December 31, 2013 $ 55.9 $ — $ — $ — $ 55.9 Equity earnings (loss) 18.0 — — — 18.0 Cash distributions (1) (23.7 ) — — — (23.7 ) Balance at December 31, 2014 $ 50.2 $ — $ — $ — $ 50.2 Fair value of T2 Joint Ventures acquired — 67.5 126.7 20.3 214.5 Equity earnings (loss) 13.8 (3.9 ) (9.4 ) (3.0 ) (2.5 ) Cash distributions (1) (14.5 ) — — (0.5 ) (15.0 ) Cash calls for expansion projects — — 6.5 5.2 11.7 Balance at December 31, 2015 $ 49.5 $ 63.6 $ 123.8 $ 22.0 $ 258.9 Equity earnings (loss) 4.1 (5.2 ) (9.4 ) (3.8 ) (14.3 ) Cash distributions (1) (7.5 ) — — (0.7 ) (8.2 ) Cash calls for expansion projects — 0.2 4.2 — 4.4 Balance at December 31, 2016 $ 46.1 $ 58.6 $ 118.6 $ 17.5 $ 240.8 (1) Includes $4.1 million and $1.2 million in distributions received from GCF and the T2 Joint Ventures in excess of our share of cumulative earnings for the years ended December 31, 2016 and 2015. Includes $5.7 million in distributions from GCF in excess of our share of cumulative earnings for the year ended December 31, 2014. Such excess distributions 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 43

Accounts Payable and Accrued Liabilities (Tables)	12 Months Ended
	Dec. 31, 2016
Payables And Accruals [Abstract]
Schedule of Accounts Payable and Accrued Liabilities	December 31, 2016 December 31, 2015 Commodities $ 574.4 $ 378.5 Other goods and services 117.0 142.9 Interest 52.3 81.0 Compensation and benefits 37.2 16.0 Income and other taxes 24.2 13.4 Preferred dividends payable 22.9 — Other 15.5 18.6 $ 843.5 $ 650.4

Debt Obligations (Tables)

Debt Obligations (Tables)	12 Months Ended
	Dec. 31, 2016
Debt Instrument [Line Items]
Schedule of Outstanding Debt	December 31, 2016 December 31, 2015 Current: Obligations of the Partnership: (1) Accounts receivable securitization facility, due December 2017 $ 275.0 $ 219.3 Long-term: TRC obligations: TRC Senior secured revolving credit facility, variable rate, due February 2020 (2) 275.0 440.0 TRC Senior secured term loan, variable rate, due February 2022 160.0 160.0 Unamortized discount (2.2 ) (2.5 ) Obligations of the Partnership: (1) Senior secured revolving credit facility, variable rate, due October 2020 (3) 150.0 280.0 Senior unsecured notes: 5% fixed rate, due January 2018 250.5 1,100.0 4 ⅛ 749.4 800.0 6 ⅝ — 342.1 Unamortized premium — 5.0 6 ⅞ — 483.6 Unamortized discount — (22.1 ) 6 ⅜ 278.7 300.0 5 ¼ 559.6 583.7 4¼% fixed rate, due November 2023 583.9 623.5 6¾% fixed rate, due March 2024 580.1 600.0 5⅛ % fixed rate, due February 2025 500.0 — 5⅜ % fixed rate, due February 2027 500.0 — TPL notes, 6 ⅝ — 12.9 Unamortized premium — 0.2 TPL notes, 4¾% fixed rate, due November 2021 (4) 6.5 6.5 TPL notes, 5⅞% fixed rate, due August 2023 (4) 48.1 48.1 Unamortized premium 0.5 0.5 4,640.1 5,761.5 Debt issuance costs, net of amortization (34.1 ) (42.7 ) Total long-term debt 4,606.0 5,718.8 Total debt obligations $ 4,881.0 $ 5,938.1 Irrevocable standby letters of credit: Letters of credit outstanding under the TRC Senior secured credit facility (2) $ — $ — Letters of credit outstanding under the Partnership senior secured revolving credit facility (3) 13.2 12.9 $ 13.2 $ 12.9
Schedule of Contractual Maturities of Outstanding Debt Obligations	The following table shows the contractually scheduled maturities of our debt obligations outstanding at December 31, 2016, for the next five years, and in total thereafter: Scheduled Maturities of Debt Total 2017 2018 2019 2020 2021 After 2021 (in millions) TRC Senior secured revolving credit facility $ 275.0 $ — $ — $ — $ 275.0 $ — $ — TRC Senior secured loans 160.0 — — — — — 160.0 TRP Revolver 150.0 — — — 150.0 — — Partnership's Senior unsecured notes 4,056.8 — 250.5 749.4 — 6.5 3,050.4 Partnership's accounts receivable securitization facility 275.0 275.0 — — — — — Total $ 4,916.8 $ 275.0 $ 250.5 $ 749.4 $ 425.0 $ 6.5 $ 3,210.4
Range of Interest Rates and Weighted Average Interest Rate Incurred on Variable Rate Debt Obligations	The following table shows the range of interest rates and weighted average interest rate incurred on variable-rate debt obligations during the year ended December 31, 2016: Range of Interest Rates Incurred Weighted Average Interest Rate Incurred TRC Revolver 2.2% - 4.5% 2.3% TRC senior secured term loan (1) 5.75% 5.75% TRP Revolver 2.4% - 5.3% 2.8% Partnership's accounts receivable securitization facility 1.2% - 1.8% 1.3% (1) The TRC senior secured term loan is a Eurodollar rate loan with an interest rate of LIBOR (with a LIBOR floor of 1%) plus an applicable rate of 4.75%.
Schedule of Redemption Prices for Issued Debt	The Partnership may redeem up to 35% of the aggregate principal amount of the notes in the table below at the redemption dates and prices set forth below (expressed as percentages of principal amounts) plus accrued and unpaid interest and liquidation damages, if any, with the net cash proceeds of one or more equity offerings, provided that: (i) at least 65% of the aggregate principal amount of each of the notes (excluding notes held by us) remains outstanding immediately after the occurrence of such redemption; and (ii) the redemption occurs within 180 days of the date of the closing of such equity offering. Note Issue Any Date Prior To Price 4 ⅛% Notes November 15, 2017 104.125% 6 ¾% Notes September 15, 2018 106.750% 5 ⅛% Notes February 1, 2020 105.125% 5 ⅜% Notes February 1, 2022 105.375% The Partnership may also redeem all or part of each of the series of notes on or after the redemption dates set forth below at the price for each respective year (expressed as percentages of principal amount) plus accrued and unpaid interest and liquidation damages, if any, on the notes redeemed. Note Redemption Date Year Price 4 ⅛% Notes November 15 2016 102.063 % 2017 101.031 % 2018 and thereafter 100 % 6 ⅜% Notes February 1 2017 103.188 % 2018 102.125 % 2019 101.063 % 2020 and thereafter 100 % 5 ¼% Notes November 1 2017 102.625 % 2018 101.750 % 2019 100.875 % 2020 and thereafter 100 % 4 ¼% Notes May 15 2018 102.125 % 2019 101.417 % 2020 100.708 % 2021 and thereafter 100 % 6 ¾% Notes September 15 2019 103.375 % 2020 101.688 % 2021 and thereafter 100 % 5 ⅛% Notes February 1 2020 103.844 % 2021 102.563 % 2022 101.281 % 2023 and thereafter 100 % 5 ⅜% Notes February 1 2022 102.688 % 2023 101.792 % 2024 100.896 % 2025 and thereafter 100 % TPL 4 ¾% Notes May 15 2017 102.375 % 2018 101.188 % 2019 and thereafter 100 % TPL 5 ⅞% Notes February 1 2018 102.938 % 2019 101.958 % 2020 100.979 % 2021 and thereafter 100 %
Summary of Debt Repurchased on Open Market Portion of Outstanding Senior Notes	In December 2015, the Partnership repurchased on the open market a portion of its outstanding Senior Notes as follows: Debt Repurchased Book Value Payment Gain/(Loss) Write-off of Debt Issuance Costs Net Gain/(Loss) 5¼% Senior Notes $ 16.3 $ (13.0 ) $ 3.3 $ (0.1 ) $ 3.2 4¼% Senior Notes 1.5 (1.2 ) 0.3 — 0.3 6⅝% Senior Notes 0.1 (0.1 ) — — — $ 17.9 $ (14.3 ) $ 3.6 $ (0.1 ) $ 3.5 During the year ended December 31, 2016, the Partnership repurchased on the open market a portion of its outstanding senior notes as follows: Debt Repurchased Book Value Payment Gain/(Loss) Write-off of Debt Issuance Costs Net Gain/(Loss) 5¼% Senior Notes $ 24.1 $ (20.1 ) $ 4.0 $ (0.2 ) $ 3.8 4¼% Senior Notes 39.5 (31.8 ) 7.7 (0.3 ) 7.4 6⅞% Senior Notes 4.8 (4.3 ) 0.5 (0.1 ) 0.4 6⅝% Senior Notes 32.6 (29.5 ) 3.1 — 3.1 6⅜% Senior Notes 21.3 (18.7 ) 2.6 (0.2 ) 2.4 6¾% Senior Notes 19.9 (17.5 ) 2.4 (0.2 ) 2.2 5% Senior Notes 366.4 (368.2 ) (1.8 ) (2.1 ) (3.9 ) 4⅛% Senior Notes 50.6 (44.2 ) 6.4 (0.4 ) 6.0 $ 559.2 $ (534.3 ) $ 24.9 $ (3.5 ) $ 21.4
Results of Tender Offers	The results of the Tender Offers, which closed in October 2016, were: Debt Tendered Outstanding Note Balance Prior to Tender Offers Amount Tendered Premium Paid Accrued Interest Paid Total Tender Offer Payments Note Balance After Tender Offers 5% Senior Notes $ 733.6 $ 483.1 $ 16.9 $ 5.4 $ 505.4 $ 250.5 6⅝% Senior Notes 309.9 281.7 10.5 0.3 292.5 28.2 6⅞% Senior Notes 478.6 373.5 14.4 4.6 392.5 105.1 Total $ 1,522.1 $ 1,138.3 $ 41.8 $ 10.3 $ 1,190.4 $ 383.8 The following table summarizes the debt repurchases and extinguishments that are included in our Consolidated Statements of Operations: 2016 2015 2014 Premium over face value paid upon redemption: Partnership 5% Senior Notes $ 16.9 $ — $ — Partnership 6⅝% Senior Notes 11.5 — — Partnership 6⅞% Senior Notes 18.0 — — Partnership 6⅝% TPL Notes 0.4 — — Partnership 7⅞% Senior Notes — — 9.9 Recognition of unamortized discount: TRC Term Loan, variable rate — 4.7 — Partnership 6⅞% Senior Notes 19.5 — — Recognition of unamortized premium: Partnership 6⅝% Senior Notes (4.3 ) — — Partnership 6⅝% TPL Notes (0.2 ) — — Loss (gain) on repurchase of debt: Partnership 5% Senior Notes 1.8 — — Partnership 4⅛% Senior Notes (6.4 ) — — Partnership 6⅝% Senior Notes (2.8 ) — — Partnership 6⅞% Senior Notes (0.8 ) — — Partnership 6⅜% Senior Notes (2.6 ) — — Partnership 5¼% Senior Notes (4.0 ) (3.3 ) — Partnership 4¼% Senior Notes (7.7 ) (0.3 ) — Partnership 6¾% Senior Notes (2.4 ) — — Loss from financing with Exchange Offer: Partnership 6⅝% Senior Notes — 0.7 — Write-off of debt issuance costs: TRP Revolver 0.9 — — TRC Term Loan, variable rate — 8.2 — Partnership 5% Senior Notes 4.2 — — Partnership 4⅛% Senior Notes 0.4 — — Partnership 6⅞% Senior Notes 4.9 — — Partnership 6⅜% Senior Notes 0.2 — — Partnership 5¼% Senior Notes 0.2 0.1 — Partnership 4¼% Senior Notes 0.3 — — Partnership 6¾% Senior Notes 0.2 — — Partnership 7⅞% Senior Notes — — 2.5 Loss from financing activities $ 48.2 $ 10.1 $ 12.4
TPL Senior Notes Tender Offers [Member]
Debt Instrument [Line Items]
Results of Tender Offers	The results of the TPL Notes Tender Offers were: Debt Tendered Outstanding Note Balance Prior to Tender Offers Amount Tendered Premium Paid Accrued Interest Paid Total Tender Offer Payments % Tendered Note Balance After Tender Offers 6⅝% Senior Notes $ 500.0 $ 140.1 $ 2.1 $ 3.7 $ 145.9 28.02 % $ 359.9 4¾% Senior Notes 400.0 393.5 5.9 5.3 404.7 98.38 % 6.5 5⅞% Senior Notes 650.0 601.9 8.7 2.6 613.2 92.60 % 48.1 Total $ 1,550.0 $ 1,135.5 $ 16.7 $ 11.6 $ 1,163.8 $ 414.5

Other Long-term Liabilities (Ta

Other Long-term Liabilities (Tables)	12 Months Ended
	Dec. 31, 2016
Other Liabilities Noncurrent [Abstract]
Schedule of Other Long-term Liabilities	Other long-term liabilities are comprised of the following obligations: December 31, 2016 December 31, 2015 Asset retirement obligations $ 64.6 $ 70.4 Mandatorily redeemable preferred interests 68.5 82.9 Deferred revenue 69.8 27.7 Other liabilities 12.2 5.9 Total long-term liabilities $ 215.1 $ 186.9
Changes in Aggregate Asset Retirement Obligations	The changes in our ARO are as follows: 2016 2015 Beginning of period $ 70.4 $ 57.3 Fair value of ARO acquired with APL merger — 4.0 Change in cash flow estimate (9.1 ) 3.8 Accretion expense 4.6 5.3 Retirement of ARO (1.3 ) — End of period $ 64.6 $ 70.4
Schedule of Changes Attributable to Mandatorily Redeemable Preferred Interests	The following table shows the changes attributable to mandatorily redeemable preferred interests: 2016 2015 Beginning of period $ 82.9 $ — Acquired mandatorily redeemable preferred interests — 109.3 Income attributable to mandatorily redeemable preferred interests 0.8 2.8 Change in estimated redemption value included in interest expense (15.2 ) (30.6 ) Other activity, net — 1.4 End of period $ 68.5 $ 82.9
Components of deferred revenue	The following table shows the components of deferred revenue: December 31, 2016 December 31, 2015 Splitter agreement $ 43.0 $ — Gas contract amendment 19.7 21.1 Other deferred revenue 7.1 6.6 Total deferred revenue $ 69.8 $ 27.7
Changes In Deferred revenue	The following table shows the changes in deferred revenue: 2016 2015 Beginning of period $ 27.7 $ 4.1 Additions 45.2 26.3 Revenue recognized (3.1 ) (2.7 ) End of period $ 69.8 $ 27.7

Preferred Stock (Tables)

Preferred Stock (Tables)	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Accounting for Series A preferred stock	The following table summarizes the accounting upon issuance of our Series A Preferred: Allocation of Proceeds Additional Paid-in Capital Series A Preferred Stock Series A Warrants Series B Warrants Beneficial Conversion Feature (BCF) Gross proceeds $ 994.1 Transaction fees (24.8 ) Net Proceeds- Initial Relative Fair Value Allocation $ 969.3 $ 787.1 $ 135.7 $ 46.5 $ — Allocation to BCF (614.4 ) — — 614.4 Per balance sheet upon issuance $ 172.7 $ 135.7 $ 46.5 $ 614.4

Common Stock and Related Matt47

Common Stock and Related Matters (Tables)	12 Months Ended
	Dec. 31, 2016
Class Of Stock Disclosures [Abstract]
Activity Related to Detachable Warrants Issued as Part of Series A Preferred Offering and Net Settled Either Common Shares or Cash at Option	The following table sets forth the activity related to detachable Warrants issued as part of our Series A Preferred offering. Warrants may be net-settled in either common shares or cash at our option. Shares of Series A Warrants Series B Warrants Common Stock Issued Cash Settled Outstanding, December 31, 2015 — — Issued and exercisable to common stock 13,550,004 6,533,727 Exercised (13,482,612 ) (6,501,231 ) 11,336,856 $ — Outstanding, December 31, 2016 67,392 32,496 Exercise prices $ 18.88 $ 25.11 Weighted average stock price at exercise dates 48.47 48.51
Dividends Declared and/or Paid	The following table details the dividends declared and/or paid by us to common shareholders for the years ended December 31, 2016, 2015 and 2014: Three Months Ended Date Paid or To Be Paid Total Common Dividends Declared Amount of Common Dividends Paid or To Be Paid Accrued Dividends (1) Dividend Declared per Share of Common Stock ( per share amounts) 2016 December 31, 2016 February 15, 2017 $ 178.3 $ 176.5 $ 1.8 $ 0.91000 September 30, 2016 November 15, 2016 166.4 164.6 1.8 0.91000 June 30, 2016 August 15, 2016 153.1 151.6 1.5 0.91000 March 31, 2016 May 16, 2016 147.8 146.1 1.7 0.91000 2015 December 31, 2015 February 9, 2016 $ 51.7 $ 51.0 $ 0.7 $ 0.91000 September 30, 2015 November 16, 2015 51.3 51.0 0.3 0.91000 June 30, 2015 August 17, 2015 49.2 49.0 0.2 0.87500 March 31, 2015 May 18, 2015 46.6 46.4 0.2 0.83000 2014 December 31, 2014 February 17, 2015 $ 32.8 $ 32.6 $ 0.2 $ 0.77500 September 30, 2014 November 17, 2014 31.0 30.8 0.2 0.73250 June 30, 2014 August 15, 2014 29.2 29.0 0.2 0.69000 March 31, 2014 May 16, 2014 27.4 27.2 0.2 0.64750 (1) Represents accrued dividends on restricted stock and restricted stock units that are payable upon vesting.

Partnership Units and Related48

Partnership Units and Related Matters (Tables)	12 Months Ended
	Dec. 31, 2016
Partners Capital [Abstract]
Schedule of Distributions	The following details the distributions declared or paid by the Partnership during 2016, 2015 and 2014: Three Months Date Paid Total Distributions Targa Ended Or to Be Paid Distributions Corp. 2016 December 31, 2016 February 10, 2017 $ 198.1 $ 195.3 September 30, 2016 November 11, 2016 194.7 191.9 June 30, 2016 August 11, 2016 181.7 178.9 March 31, 2016 May 12, 2016 157.6 154.8 2015 December 31, 2015 February 9, 2016 $ 200.4 $ 61.4 September 30, 2015 November 13, 2015 200.4 61.4 June 30, 2015 August 14, 2015 200.4 61.4 March 31, 2015 May 15, 2015 193.9 59.0 2014 December 31, 2014 February 13, 2015 $ 137.4 $ 51.6 September 30, 2014 November 14, 2014 130.9 48.9 June 30, 2014 August 14, 2014 125.7 46.3 March 31, 2014 May 15, 2014 121.3 44.0

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Reconciliation of Net Income and Weighted Average Shares Outstanding Used in Computing Basic and Diluted Net Income Per Common Share	The following table sets forth a reconciliation of net income and weighted average shares outstanding (in millions) used in computing basic and diluted net income per common share: 2016 2015 2014 Net income $ (159.1 ) $ (151.4 ) $ 423.0 Less: Net income attributable to noncontrolling interests 28.2 (209.7 ) 320.7 Less: Dividends on preferred stock 90.8 — — Net income attributable to common shareholders for basic earnings per share $ (278.1 ) $ 58.3 $ 102.3 Weighted average shares outstanding - basic 154.4 53.5 42.0 Net income available per common share - basic $ (1.80 ) $ 1.09 $ 2.44 Weighted average shares outstanding 154.4 53.5 42.0 Dilutive effect of unvested stock awards — 0.1 0.1 Weighted average shares outstanding - diluted 154.4 53.6 42.1 Net income available per common share - diluted $ (1.80 ) $ 1.09 $ 2.43
Summary of Potential Common Stock Equivalents Excluded from Determination of Diluted Earnings Per Share	The following potential common stock equivalents are excluded from the determination of diluted earnings per share because the inclusion of such shares would have been anti-dilutive (in millions on a weighted-average basis): 2016 2015 2014 Unvested restricted stock awards 0.6 0.1 — Warrants to purchase common stock 5.8 — — Series A preferred stock (1) 36.9 — — The Series A Preferred has no mandatory redemption date, but is redeemable at our election in year six for a 10% premium to the liquidation preference and for a 5% premium to the liquidation preference thereafter. If the Series A Preferred is not redeemed by the end of year twelve, the investors have the right to convert the Series A Preferred into TRC common stock. See Note 12 – Preferred Stock

Derivative Instruments and He50

Derivative Instruments and Hedging Activities (Tables)	12 Months Ended
	Dec. 31, 2016
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Notional Volume of Commodity Hedges	At December 31, 2016, the notional volumes of our commodity derivative contracts were: Commodity Instrument Unit 2017 2018 2019 Natural Gas Swaps MMBtu/d 133,448 84,800 45,683 Natural Gas Basis Swaps MMBtu/d 72,219 - - Natural Gas Options MMBtu/d 22,900 9,486 - NGL Swaps Bbl/d 9,635 4,688 3,369 NGL Futures Bbl/d 6,118 959 - NGL Options Bbl/d 1,468 1,676 - Condensate Swaps Bbl/d 2,270 1,770 643 Condensate Options Bbl/d 1,380 691 590
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 December 31, 2016 Fair Value as of December 31, 2015 Balance Sheet Derivative Derivative Derivative Derivative Location Assets Liabilities Assets Liabilities Derivatives designated as hedging instruments Commodity contracts Current $ 16.7 $ 48.6 $ 92.1 $ 2.1 Long-term 5.1 26.1 34.9 2.4 Total derivatives designated as hedging instruments $ 21.8 $ 74.7 $ 127.0 $ 4.5 Derivatives not designated as hedging instruments Commodity contracts Current $ 0.1 $ 0.5 $ 0.1 $ 3.1 Total derivatives not designated as hedging instruments $ 0.1 $ 0.5 $ 0.1 $ 3.1 Total current position $ 16.8 $ 49.1 $ 92.2 $ 5.2 Total long-term position 5.1 26.1 34.9 2.4 Total derivatives $ 21.9 $ 75.2 $ 127.1 $ 7.6
Pro Forma Impact of Derivatives Net in Consolidated Balance Sheet	The pro forma impact of reporting derivatives in our Consolidated Balance Sheets on a net basis is as follows: Gross Presentation Pro forma net presentation December 31, 2016 Asset Liability Collateral Asset Liability Current Position Counterparties with offsetting positions or collateral $ 16.8 $ (46.1 ) $ 7.0 $ 5.7 $ (28.0 ) Counterparties without offsetting positions - assets - - - - - Counterparties without offsetting positions - liabilities - (3.0 ) - - (3.0 ) 16.8 (49.1 ) 7.0 5.7 (31.0 ) Long Term Position Counterparties with offsetting positions or collateral 5.1 (18.7 ) - - (13.6 ) Counterparties without offsetting positions - assets - - - - - Counterparties without offsetting positions - liabilities - (7.4 ) - - (7.4 ) 5.1 (26.1 ) - (21.0 ) Total Derivatives Counterparties with offsetting positions or collateral 21.9 (64.8 ) 7.0 5.7 (41.6 ) Counterparties without offsetting positions - assets - - - - - Counterparties without offsetting positions - liabilities - (10.4 ) - - (10.4 ) $ 21.9 $ (75.2 ) $ 7.0 $ 5.7 $ (52.0 ) Gross Presentation Pro forma net presentation December 31, 2015 Asset Liability Collateral Asset Liability Current Position Counterparties with offsetting positions or collateral $ 86.9 $ (5.2 ) $ - $ 81.7 $ - Counterparties without offsetting positions - assets 5.3 - - 5.3 - Counterparties without offsetting positions - liabilities - - - - - 92.2 (5.2 ) - 87.0 - Long Term Position Counterparties with offsetting positions or collateral 34.2 (2.4 ) - 31.8 - Counterparties without offsetting positions - assets 0.7 - - 0.7 - Counterparties without offsetting positions - liabilities - - - - - 34.9 (2.4 ) 32.5 - Total Derivatives Counterparties with offsetting positions or collateral 121.1 (7.6 ) - 113.5 - Counterparties without offsetting positions - assets 6.0 - - 6.0 - Counterparties without offsetting positions - liabilities - - - - - $ 127.1 $ (7.6 ) $ - $ 119.5 $ -
Amounts Recorded in OCI and Amounts Reclassified from OCI to Revenue and Expense	The following tables reflect amounts recorded in Other Comprehensive Income (“OCI”) and amounts reclassified from OCI to revenue and expense for the periods indicated: Derivatives in Cash Flow Gain (Loss) Recognized in OCI on Derivatives (Effective Portion) Hedging Relationships 2016 2015 2014 Commodity contracts $ (103.6 ) $ 112.7 $ 59.7 Gain (Loss) Reclassified from OCI into Income (Effective Portion) Location of Gain (Loss) 2016 2015 2014 Interest expense, net $ — $ — $ (2.4 ) Revenues 45.0 86.3 (4.2 ) $ 45.0 $ 86.3 $ (6.6 )
Gain (Loss) Recognized in Income on Derivatives	The use of mark-to-market accounting for financial instruments can cause non-cash earnings volatility due to changes in the underlying commodity price indices. Derivatives Not Designated Location of Gain Recognized in Gain (Loss) Recognized in Income on Derivatives as Hedging Instruments Income on Derivatives 2016 2015 2014 Commodity contracts Revenue $ 0.9 $ (5.7 ) $ (5.5 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Breakdown by Fair Value Hierarchy Category for Financial Instruments Included in Consolidated Balance Sheets	The following table shows a breakdown by fair value hierarchy category for (1) financial instruments measurements included in our Consolidated Balance Sheets at fair value and (2) supplemental fair value disclosures for other financial instruments: December 31, 2016 Carrying Fair Value Value Total Level 1 Level 2 Level 3 Financial Instruments Recorded on Our Consolidated Balance Sheets at Fair Value: Assets from commodity derivative contracts (1) $ 21.0 $ 21.0 $ — $ 19.6 $ 1.4 Liabilities from commodity derivative contracts (1) 74.2 74.2 — 69.3 4.9 TPL contingent consideration (2) 2.6 2.6 — — 2.6 Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value: Cash and cash equivalents 73.5 73.5 — — — TRC Revolver 275.0 275.0 — 275.0 — TRC term loan 157.8 158.4 — 158.4 — TRP Revolver 150.0 150.0 — 150.0 — Partnership's Senior unsecured notes 4,057.3 4,101.6 — 4,101.6 — Partnership's accounts receivable securitization facility 275.0 275.0 — 275.0 — December 31, 2015 Carrying Fair Value Value Total Level 1 Level 2 Level 3 Financial Instruments Recorded on Our Consolidated Balance Sheets at Fair Value: Assets from commodity derivative contracts (1) $ 127.1 $ 127.1 $ — $ 123.1 $ 4.0 Liabilities from commodity derivative contracts (1) 7.6 7.6 — 7.3 0.3 TPL contingent consideration (2) 3.0 3.0 — — 3.0 Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value: Cash and cash equivalents 140.2 140.2 — — — TRC Revolver 440.0 440.0 — 440.0 — TRC term loan 157.5 158.3 — 158.3 — TRP Revolver 280.0 280.0 — 280.0 — Partnership's Senior unsecured notes 4,884.0 4,192.0 — 4,192.0 — Partnership's accounts receivable securitization facility 219.3 219.3 — 219.3 — (1) The fair value of derivative contracts in this table is presented on a different basis than the Consolidated Balance Sheets presentation as disclosed in Note 16 – Derivative Instruments and Hedging Activities. The above fair values reflect the total value of each derivative contract taken as a whole, whereas the Consolidated Balance Sheets presentation is based on the individual maturity dates of estimated future settlements. As such, an individual contract could have both an asset and liability position when segregated into its current and long-term portions for Consolidated Balance Sheets classification purposes. (2) See Note 4 – Business Acquisitions.
Reconciliation of Changes in Fair Value of Financial Instruments Classified as Level 3	The following table summarizes the changes in fair value of our financial instruments classified as Level 3 in the fair value hierarchy: Commodity Derivative Contracts Contingent Asset/(Liability) Liability Balance, December 31, 2015 $ 3.7 $ (3.0 ) Change in fair value of TPL contingent consideration - 0.4 New Level 3 instruments 0.9 - Settlements included in Revenue 0.2 - Unrealized gain/(loss) included in OCI (8.4 ) - Balance, December 31, 2016 $ (3.6 ) $ (2.6 )

Commitments (Leases) (Tables)

Commitments (Leases) (Tables)	12 Months Ended
	Dec. 31, 2016
Leases [Abstract]
Future Lease Obligations for Next Five Fiscal Years	Future lease obligations are presented below in aggregate and for each of the next five fiscal years: In Aggregate 2017 2018 2019 2020 2021 Operating leases (1) $ 37.9 $ 15.4 $ 10.8 $ 5.7 $ 3.8 $ 2.2 Land site lease and right-of-way (2) 14.2 3.2 2.8 2.8 2.7 2.7 $ 52.1 $ 18.6 $ 13.6 $ 8.5 $ 6.5 $ 4.9 (1) Includes minimum payments on lease obligations for office space, railcars and tractors. (2) Land site lease and right-of-way provides for surface and underground access for gathering, processing and distribution assets that are located on property not owned by us. These agreements expire at various dates, with varying terms, some of which are perpetual.
Total Expenses Incurred under Lease Obligations Including Short Term Leases of Compressors and Equipment	Total expenses incurred under the above lease obligations, including short-term leases of compressors and equipment, were: 2016 2015 2014 Operating leases (1) $ 48.9 $ 46.0 $ 27.7 Land site lease and right-of-way 4.4 4.2 4.1 $ 53.3 $ 50.2 $ 31.8 (1) Includes short-term leases for items such as compressors and equipment.

Other Operating (Income) Expe53

Other Operating (Income) Expense (Tables)	12 Months Ended
	Dec. 31, 2016
Other Income And Expenses [Abstract]
Other Operating (Income) Expense	Other Operating (Income) Expense is comprised of the following: 2016 2015 2014 (Gain) loss on sale or disposal of assets $ 6.1 $ (8.0 ) $ (4.8 ) Casualty (gain) loss - (0.2 ) 0.1 Miscellaneous business tax 0.5 0.5 0.4 Other - 0.6 1.3 $ 6.6 $ (7.1 ) $ (3.0 )

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Components of Federal and State Income Tax Provisions	Components of the federal and state income tax provisions for the periods indicated are as follows: 2016 2015 2014 Current expense (benefit) $ (62.8 ) $ 15.0 $ 72.4 Deferred expense (benefit) (37.8 ) 24.6 (4.4 ) Total income tax expense (benefit) $ (100.6 ) $ 39.6 $ 68.0
Deferred Tax Assets and Liabilities	Our deferred income tax assets and liabilities at December 31, 2016 and 2015 consist of differences related to the timing of recognition of certain types of costs as follows: 2016 2015 Deferred tax assets: Net operating loss 101.2 19.8 Tax credits 3.9 - Other 3.5 3.5 Deferred tax assets before valuation allowance $ 108.6 $ 23.3 Valuation allowance (3.5 ) (3.5 ) Deferred tax assets 105.1 19.8 Deferred tax liabilities: Investments (1) (1,002.6 ) (114.3 ) Property, plant, and equipment (25.3 ) (61.5 ) Debt-related (6.1 ) (10.0 ) Other (12.3 ) (11.8 ) Deferred tax liabilities (1,046.3 ) (197.6 ) Net deferred tax asset (liability) $ (941.2 ) (177.8 ) Net deferred tax liability Federal $ (833.2 ) $ (144.5 ) Foreign 0.6 0.6 State (108.6 ) (33.9 ) $ (941.2 ) $ (177.8 ) Balance sheet classification of deferred tax assets (liabilities) Long-term liability $ (941.2 ) $ (177.8 ) (1) Our deferred tax liability attributable to investments reflects the differences between the book and tax carrying values of our investment in the Partnership.
Reconciliation of Income Tax Provision (Benefit)	Set forth below is the reconciliation between our income tax provision (benefit) computed at the United States statutory rate on income before income taxes and the income tax provision in the accompanying consolidated statements of operations for the periods indicated: Income tax reconciliation: 2016 2015 2014 Income (loss) before income taxes $ (259.7 ) $ (111.8 ) $ 491.0 Less: Net income attributable to noncontrolling interest (28.2 ) 209.7 (320.7 ) Less: TPL Arkoma, Inc. income to TRC 0.8 0.5 - Less: Income taxes included in noncontrolling interest - (0.6 ) (4.2 ) Income attributable to TRC (excluding TPL Arkoma, Inc.) before income taxes (287.1 ) 97.8 166.1 Income from TPL Arkoma, Inc. (0.8 ) (7.6 ) - Income attributable to TRC and TPL Arkoma, Inc. before income taxes (287.9 ) 90.2 166.1 Federal statutory income tax rate 35 % 35 % 35 % Provision for federal income taxes (100.8 ) 31.6 58.1 State income taxes, net of federal tax benefit (6.1 ) 3.5 6.7 Amortization of deferred charge on 2010 transactions 4.7 4.7 4.7 Other, net 1.6 (0.2 ) (1.5 ) Income tax provision $ (100.6 ) $ 39.6 $ 68.0

Supplemental Cash Flow Inform55

Supplemental Cash Flow Information (Tables)	12 Months Ended
	Dec. 31, 2016
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	2016 2015 2014 Cash: Interest paid, net of capitalized interest (1) $ 282.0 $ 214.1 $ 133.8 Income taxes paid, net of refunds (10.6 ) 12.6 73.4 Non-cash investing activities: Deadstock commodity inventory transferred to property, plant and equipment $ 17.4 $ 1.2 14.8 Impact of capital expenditure accruals on property, plant and equipment 27.6 43.8 19.0 Transfers from materials and supplies inventory to property, plant and equipment 2.4 3.7 4.6 Change in ARO liability and property, plant and equipment due to revised cash flow estimate (9.1 ) 3.8 2.1 Deferred revenue related to property, plant and equipment received under contract amendment — 22.6 — Non-cash financing activities: Reduction of Owner's Equity related to accrued dividends on unvested equity awards under share compensation arrangements $ 8.7 $ 1.6 0.6 Debt additions and retirements related to exchange of TRP 6 ⅝ — 342.1 — Change of accrued distributions of preferred units 0.9 — Allocation of Series A Preferred Stock net book value of BCF to additional paid-in capital 614.4 — — Accrued dividends of Series A Preferred Stock 22.9 — — Accrued deemed dividends of Series A Preferred Stock 18.2 — — Transfer within additional paid-in capital for exercise of Warrants 181.5 — — Non-cash balance sheet movements related to the TRC/TRP Merger (see Note 2 - Basis of Presentation): Prepaid transaction costs reclassified in the additional paid-in capital $ 4.5 $ — — Issuance of common stock 0.1 — Additional paid-in capital 3,207.5 — — Accumulated other comprehensive income 55.8 — Noncontrolling interests (4,119.7 ) — — Deferred tax liability 856.3 — — Non-cash balance sheet movements related to the purchase of noncontrolling interests in subsidiary (see Note 4 - Business Acquisitions) : Additional paid-in capital 65.0 — — Noncontrolling interests (65.0 ) — — Non-cash balance sheet movements related to the Atlas Merger (see Note 4 - Business Acquisitions): Non-cash merger consideration - common units and replacement equity awards $ — $ 2,436.1 $ — Non-cash merger consideration - common shares and replacement equity awards — 1,013.7 — Net non-cash balance sheet movements excluded from consolidated statements of cash flows — 3,449.8 — Net cash merger consideration included in investing activities — 1,574.4 — Total fair value of consideration transferred $ — $ 5,024.2 $ — (1) Interest capitalized on major projects was $8.3 million, $13.2 million and $16.1 million for 2016, 2015 and 2014.

Compensation Plans (Tables)

Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2016
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Summary of Restricted Stock Awards	The following table summarizes the restricted stock units for the year ended 2016 under the Plan: Restricted Stock Units Number Weighted-average of shares Grant-Date Fair Value Outstanding as of December 31, 2015 - $ - Converted 635,467 73.68 Granted 331,282 74.01 Forfeited (20,485 ) 26.38 Vested (245,862 ) 62.23 Outstanding as of December 31, 2016 700,402 51.52
Cash-Settled Performance Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Summary of Restricted Stock Units	The following table summarizes the cash-settled restricted stock units for the year ended 2016 under the TRC LTIP (in shares and millions of dollars). Program Year 2013 Awards 2014 Awards 2015 Awards Total Outstanding as of December 31, 2015 139,700 119,900 192,390 451,990 After conversion on February 17, 2016 86,538 74,248 119,178 279,964 Vested and paid (85,492 ) (85,492 ) Forfeited (1,046 ) (1,269 ) (2,862 ) (5,177 ) Outstanding as of December 31, 2016 — 72,979 116,316 189,295 Calculated fair market value as of December 31, 2016 $ 4,992,974 $ 7,355,790 $ 12,348,763 Current liability $ 4,143,373 $ - $ 4,143,373 Long-term liability - 3,565,135 3,565,135 Liability as of December 31, 2016 $ 4,143,373 $ 3,565,135 $ 7,708,508 To be recognized in future periods $ 849,601 $ 3,790,655 $ 4,640,255 Vesting date June 2017 June 2018
Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Summary of Restricted Stock Awards	The following table summarizes the restricted stock and RSUs under the 2010 TRC Plan in shares and in dollars for the year indicated. Number Weighted Average of shares Grant-Date Fair Value Outstanding at December 31, 2015 313,362 85.70 Granted 1,186,206 28.00 Forfeited (14,989 ) 75.17 Vested (116,329 ) 58.55 Outstanding at December 31, 2016 1,368,250 $ 38.10

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Reportable Segment Information	Reportable segment information is shown in the following tables: Year Ended December 31, 2016 Gathering and Processing Logistics and Marketing Other Corporate and Eliminations Total Revenues Sales of commodities $ 621.9 $ 4,942.0 $ 62.9 $ — $ 5,626.8 Fees from midstream services 486.6 577.5 — — 1,064.1 1,108.5 5,519.5 62.9 — 6,690.9 Intersegment revenues Sales of commodities 2,124.4 251.5 — (2,375.9 ) — Fees from midstream services 7.8 23.5 — (31.3 ) — 2,132.2 275.0 — (2,407.2 ) — Revenues $ 3,240.7 $ 5,794.5 $ 62.9 $ (2,407.2 ) $ 6,690.9 Operating margin $ 577.1 $ 574.4 $ 62.9 $ (0.1 ) $ 1,214.3 Other financial information: Total assets (1) $ 9,800.6 $ 2,868.7 $ 21.8 $ 180.1 $ 12,871.2 Goodwill $ 210.0 $ — $ — $ — $ 210.0 Capital expenditures $ 402.5 $ 185.3 $ — $ 4.3 $ 592.1 (1) Corporate assets at the segment level primarily include tax-related assets, cash, prepaids and debt issuance costs for our revolving credit facilities. Year Ended December 31, 2015 Gathering and Processing Logistics and Marketing Other Corporate and Eliminations Total Revenues Sales of commodities $ 1,485.4 $ 3,895.8 $ 84.2 $ — $ 5,465.4 Fees from midstream services 427.1 766.1 — — 1,193.2 1,912.5 4,661.9 84.2 — 6,658.6 Intersegment revenues Sales of commodities 1,126.3 208.9 — (1,335.2 ) — Fees from midstream services 8.7 17.8 — (26.5 ) — 1,135.0 226.7 — (1,361.7 ) — Revenues $ 3,047.5 $ 4,888.6 $ 84.2 $ (1,361.7 ) $ 6,658.6 Operating margin $ 515.1 $ 681.7 $ 84.2 $ — $ 1,281.0 Other financial information: Total assets (1) $ 10,391.9 $ 2,567.1 $ 127.1 $ 124.9 $ 13,211.0 Goodwill $ 417.0 $ — $ — $ — $ 417.0 Capital expenditures $ 496.3 $ 272.0 $ — $ 8.9 $ 777.2 Business acquisition $ 5,024.2 $ — $ — $ — $ 5,024.2 (1) Corporate assets at the segment level primarily include tax-related assets, cash, prepaids and debt issuance costs for our revolving credit facilities. Year Ended December 31, 2014 Gathering and Processing Logistics and Marketing Other Corporate and Eliminations Total Revenues Sales of commodities $ 552.4 $ 7,050.8 $ (8.0 ) $ — $ 7,595.2 Fees from midstream services 224.7 796.6 — — 1,021.3 777.1 7,847.4 (8.0 ) — 8,616.5 Intersegment revenues Sales of commodities 2,068.8 339.3 — (2,408.1 ) — Fees from midstream services 5.2 28.5 — (33.7 ) — 2,074.0 367.8 — (2,441.8 ) — Revenues $ 2,851.1 $ 8,215.2 $ (8.0 ) $ (2,441.8 ) $ 8,616.5 Operating margin $ 449.9 $ 694.7 $ (8.0 ) $ (0.1 ) $ 1,136.5 Other financial information: Total assets (1) $ 3,776.2 $ 2,476.1 $ 60.2 $ 111.0 $ 6,423.5 Capital expenditures $ 437.1 $ 304.6 $ — $ 6.1 $ 747.8 (1) Corporate assets at the segment level primarily include tax-related assets, cash, prepaids and debt issuance costs for our revolving credit facilities.
Revenues by Product and Service	The following table shows our consolidated revenues by product and service for the periods presented: 2016 2015 2014 Sales of commodities: Natural gas $ 1,584.5 $ 1,578.6 $ 1,414.1 NGL 3,777.3 3,558.3 5,960.1 Condensate 133.9 142.4 134.3 Petroleum products 68.2 101.6 96.3 Derivative activities 62.9 84.5 (9.6 ) 5,626.8 5,465.4 7,595.2 Fees from midstream services: Fractionating and treating 126.2 209.0 208.9 Storage, terminaling, transportation and export 420.0 506.2 548.1 Gathering and processing 445.0 393.7 196.9 Other 72.9 84.3 67.4 1,064.1 1,193.2 1,021.3 Total revenues $ 6,690.9 $ 6,658.6 $ 8,616.5
Reconciliation of Operating Margin to Net Income (Loss)	The following table shows a reconciliation of operating margin to net income (loss) for the periods presented: 2016 2015 2014 Reconciliation of operating margin to net income (loss): Operating margin $ 1,214.3 $ 1,281.0 $ 1,136.5 Depreciation and amortization expenses (757.7 ) (677.1 ) (351.0 ) General and administrative expenses (187.2 ) (161.7 ) (148.0 ) Goodwill impairment (207.0 ) (290.0 ) — Interest expense, net (254.2 ) (231.9 ) (147.1 ) Other, net (67.9 ) (32.1 ) 0.6 Income tax (expense) benefit 100.6 (39.6 ) (68.0 ) Net income (loss) $ (159.1 ) $ (151.4 ) $ 423.0

Selected Quarterly Financial 58

Selected Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2016
Selected Quarterly Financial Information [Abstract]
Results of Operations by Quarter	Our results of operations by quarter for the years ended December 31, 2016 and 2015 were as follows: First Quarter Second Quarter Third Quarter Fourth Quarter Total 2016 Revenues $ 1,442.4 $ 1,583.6 $ 1,652.3 $ 2,012.6 $ 6,690.9 Gross margin 431.4 438.4 429.6 468.6 1,768.0 Income from operations (1)(2) 35.5 66.3 51.6 (97.6 ) 55.8 Net income (loss) (0.7 ) (14.6 ) (3.2 ) (140.6 ) (159.1 ) Net income (loss) attributable to common shareholders (6.5 ) (52.6 ) (39.4 ) (179.6 ) (278.1 ) Net income (loss) per common share - basic (0.06 ) (0.33 ) (0.23 ) (1.18 ) (1.80 ) Net income (loss) per common share - diluted (0.06 ) (0.33 ) (0.23 ) (1.18 ) (1.80 ) 2015 Revenues $ 1,679.7 $ 1,699.4 $ 1,632.1 $ 1,647.4 $ 6,658.6 Gross margin 421.1 471.3 468.8 459.8 1,821.0 Income (loss) from operations (3)(4) 138.5 112.4 115.3 (206.9 ) 159.3 Net income (loss) 35.9 23.8 20.8 (231.9 ) (151.4 ) Net income attributable to common shareholders 3.4 15.2 12.7 27.0 58.3 Net income per common share - basic 0.07 0.27 0.23 0.48 1.09 Net income per common share - diluted 0.07 0.27 0.23 0.48 1.09 (1) Includes an additional goodwill impairment of $24.0 million in the first quarter of 2016. See Note 7 – Goodwill. (2) Includes a goodwill impairment of $183.0 million in the fourth quarter of 2016. See Note 7 – Goodwill. (3) Includes $32.6 million of impairment losses in the fourth quarter of 2015. See Note 6 – Property, Plant and Equipment and Intangible Assets. (4) Includes a provisional goodwill impairment of $290.0 million in the fourth quarter of 2015. See Note 7 – Goodwill.

Condensed Parent Only Financi59

Condensed Parent Only Financial Statements (Tables)	12 Months Ended
	Dec. 31, 2016
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
Condensed Financial Statements	The condensed financial statements should be read in conjunction with Targa’s consolidated financial statements, which begin on page F-1 in this Annual Report. TARGA RESOURCES CORP. PARENT ONLY CONDENSED BALANCE SHEETS December 31, 2016 2015 ASSETS Investment in consolidated subsidiaries $ 5,840.2 $ 1,999.4 Deferred income taxes 54.5 43.7 Debt issuance costs 6.5 8.6 Other long-term assets - 4.5 Total assets $ 5,901.2 $ 2,056.2 LIABILITIES, SERIES A PREFERRED STOCK AND OWNERS' EQUITY Accrued current liabilities $ 23.6 $ 1.2 Long-term debt 429.0 593.1 Other long-term liabilities 9.2 0.5 Contingencies Series A Preferred 9.5% Stock, net of discount 190.8 - Targa Resources Corp. stockholders' equity 5,248.6 1,461.4 Total liabilities, Series A Preferred Stock and owners' equity $ 5,901.2 $ 2,056.2 TARGA RESOURCES CORP. PARENT ONLY CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) Year Ended December 31, 2016 2015 2014 Equity in net income (loss) of consolidated subsidiaries $ (167.3 ) $ 87.6 $ 109.8 General and administrative expenses (10.0 ) (8.0 ) (8.3 ) Income (loss) from operations (177.3 ) 79.6 101.5 Other income (expense): Loss on debt extinguishment - (12.9 ) - Interest expense (20.8 ) (24.2 ) (3.2 ) Other income (expense) - - - Income (loss) before income taxes (198.1 ) 42.5 98.3 Deferred income tax (expense) benefit 10.8 15.8 4.0 Net income (loss) attributable to Targa Resources Corp. (187.3 ) 58.3 102.3 Other comprehensive income (loss) (99.8 ) 0.9 5.3 Total comprehensive income (loss) $ (287.1 ) $ 59.2 $ 107.6 Dividends on Series A preferred stock 72.6 - - Deemed dividends 18.2 - - Net income (loss) attributable to common shareholders (278.1 ) 58.3 102.3 Net income (loss) attributable to Targa Resources Corp. $ (187.3 ) $ 58.3 $ 102.3 TARGA RESOURCES CORP. PARENT ONLY CONDENSED STATEMENTS OF CASH FLOWS Year Ended December 31, 2016 2015 2014 Net cash provided by (used in) operating activities $ 125.3 $ 62.6 $ (1.3 ) Cash Flow from Investing activities: Outlays for business acquisitions, net of cash acquired - (745.7 ) - Distribution and return of advances from consolidated subsidiaries (921.0 ) 60.8 97.3 Net cash provided by (used in) investing activities (921.0 ) (684.9 ) 97.3 Cash Flow from Financing activities: Proceeds from long-term debt borrowings 612.0 914.5 92.0 Repayments of long-term debt (777.0 ) (424.0 ) (74.0 ) Costs incurred in connection with financing arrangements (41.3 ) (22.5 ) - Proceeds from issuance of common stock, preferred stock and warrants 1,571.4 335.5 - Repurchase of common stock (3.5 ) (3.3 ) - Dividends paid to common and preferred shareholders (565.9 ) (179.0 ) (113.0 ) Excess tax benefit from stock-based awards - 1.1 (1.0 ) Net cash provided by (used in) financing activities 795.7 622.3 (96.0 ) Net increase (decrease) in cash and cash equivalents - - - Cash and cash equivalents - beginning of year - - - Cash and cash equivalents - end of year $ - $ - $ -

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Details)	Feb. 17, 2016shares	Dec. 31, 2016shares	Dec. 31, 2015shares	Dec. 31, 2014	Dec. 02, 2016shares	Oct. 31, 2016
Business Acquisition [Line Items]
Ownership interest in Partnership by general partner		2.00%	2.00%	2.00%
Parent's ownership interest in the general partner of the Partnership		100.00%
Number of Partnership common units owned (in units)		16,309,594
Ownership interest in Partnership by limited partner		8.80%
Conversion ratio in stock-for-unit transaction	0.62
Number of shares issued in exchange of common units for common shares to the third party (in shares)	104,525,775
Issuance of common units (in units)		58,621,036	7,377,380
General Partner unit in exchange for the elimination of the IDRs and Special GP Interest		1,196,346
Remaining percentage of membership interest acquired						37.00%
IDRs [Member] | Common Units [Member]
Business Acquisition [Line Items]
Issuance of common units (in units)					20,380,286
IDRs [Member] | General Partner Units [Member]
Business Acquisition [Line Items]
General Partner unit in exchange for the elimination of the IDRs and Special GP Interest					424,590
Special GP Interest [Member] | Common Units [Member]
Business Acquisition [Line Items]
Issuance of common units (in units)					11,267,485
Special GP Interest [Member] | General Partner Units [Member]
Business Acquisition [Line Items]
General Partner unit in exchange for the elimination of the IDRs and Special GP Interest					234,739
Series A Cumulative Redeemable Perpetual Preferred Units [Member]
Business Acquisition [Line Items]
Preferred units, outstanding		5,000,000
Preferred units dividend percentage		9.00%
Targa Resources Partners LP [Member]
Business Acquisition [Line Items]
Conversion ratio in stock-for-unit transaction	0.62
Number of shares exchanged in exchange of common units for common shares to the third party (in shares)	168,590,009

Summary of Financial Effects of

Summary of Financial Effects of TRC/TRP Merger (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2016		Dec. 31, 2015
Business Acquisition [Line Items]
Shares issued for the Merger		$ (2,316.6)		$ 1,013.7
Impact of NCI acquisition on TRC owners' equity		2,316.6
Deferred tax adjustments		(865.1)
Transaction costs, net of tax		(15)
Acquisition of TRP noncontrolling common interests		(880.1)
Common Stock [Member]
Business Acquisition [Line Items]
Shares issued for the Merger		0.1		0.1
Acquisition of TRP noncontrolling common interests		0.1
Additional Paid-in Capital [Member]
Business Acquisition [Line Items]
Shares issued for the Merger		1,803		1,013.6
Impact of NCI acquisition on TRC owners' equity		2,226.7
Deferred tax adjustments		(831)
Transaction costs, net of tax		(15)
Acquisition of TRP noncontrolling common interests		3,183.7
Retained Earnings (Accumulated Deficit) [Member]
Business Acquisition [Line Items]
Shares issued for the Merger				0
Accumulated Other Comprehensive Income (Loss) [Member]
Business Acquisition [Line Items]
Shares issued for the Merger				0
Impact of NCI acquisition on TRC owners' equity		89.9
Deferred tax adjustments		(34.1)
Acquisition of TRP noncontrolling common interests		55.8
TRC's Stockholders' Equity [Member]
Business Acquisition [Line Items]
Shares issued for the Merger		1,803.1
Impact of NCI acquisition on TRC owners' equity		2,316.6
Deferred tax adjustments		(865.1)
Transaction costs, net of tax		(15)
Acquisition of TRP noncontrolling common interests		3,239.6
Noncontrolling Interests [Member]
Business Acquisition [Line Items]
Shares issued for the Merger		(4,119.7)	[1]	$ 0
Acquisition of TRP noncontrolling common interests	[1]	$ (4,119.7)
[1]	Reflects the February 17, 2016 book value of the publicly held interests in TRP.

Impact of Revisions to Activity

Impact of Revisions to Activity Reported in Consolidated Statements of Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Commodity hedging contracts:
Other comprehensive income (loss), related income tax	$ 61.3	$ (0.6)	$ (3.1)
Commodity hedging contracts:
Other comprehensive income (loss) attributable to Targa Resources Corp., after tax	(87.3)	25.8	63.2
Other comprehensive income (loss), pre-tax	(148.6)	26.4	66.3
Noncontrolling Interests [Member]
Commodity hedging contracts:
Other comprehensive income (loss) attributable to Targa Resources Corp., after tax	12.5	24.9	57.9
Other comprehensive income (loss), pre-tax		24.9
Commodity Contracts [Member]
Commodity hedging contracts:
Change in fair value, related income tax		(4.2)
Settlements reclassified to revenues, related income tax	12.8	3.6	(0.1)
Commodity hedging contracts:
Change in fair value, after tax		108.5
Settlements reclassified to revenues, after tax	(32.2)	(82.7)	4.1
Change in fair value, pre-tax		112.7
Settlements reclassified to revenues, pre-tax	$ (45)	(86.3)	$ 4.2
Commodity Contracts [Member] | Noncontrolling Interests [Member]
Commodity hedging contracts:
Change in fair value, after tax		101.7
Settlements reclassified to revenues, after tax		(76.8)
Change in fair value, pre-tax		101.7
Settlements reclassified to revenues, pre-tax		(76.8)
Targa Resources Corp. [Member]
Commodity hedging contracts:
Other comprehensive income (loss), related income tax		(0.6)
Commodity hedging contracts:
Other comprehensive income (loss) attributable to Targa Resources Corp., after tax		0.9
Other comprehensive income (loss), pre-tax		1.5
Targa Resources Corp. [Member] | Commodity Contracts [Member]
Commodity hedging contracts:
Change in fair value, related income tax		(4.2)
Settlements reclassified to revenues, related income tax		3.6
Commodity hedging contracts:
Change in fair value, after tax		6.8
Settlements reclassified to revenues, after tax		(5.9)
Change in fair value, pre-tax		11
Settlements reclassified to revenues, pre-tax		(9.5)
Scenario, Previously Reported [Member]
Commodity hedging contracts:
Other comprehensive income (loss), related income tax		(0.6)
Commodity hedging contracts:
Other comprehensive income (loss) attributable to Targa Resources Corp., after tax		25.8
Other comprehensive income (loss), pre-tax		26.4
Scenario, Previously Reported [Member] | Noncontrolling Interests [Member]
Commodity hedging contracts:
Other comprehensive income (loss) attributable to Targa Resources Corp., after tax		24.9
Other comprehensive income (loss), pre-tax		24.9
Scenario, Previously Reported [Member] | Commodity Contracts [Member]
Commodity hedging contracts:
Change in fair value, related income tax		(2.8)
Settlements reclassified to revenues, related income tax		2.2
Commodity hedging contracts:
Change in fair value, after tax		78.4
Settlements reclassified to revenues, after tax		(52.6)
Change in fair value, pre-tax		81.2
Settlements reclassified to revenues, pre-tax		(54.8)
Scenario, Previously Reported [Member] | Commodity Contracts [Member] | Noncontrolling Interests [Member]
Commodity hedging contracts:
Change in fair value, after tax		73.8
Settlements reclassified to revenues, after tax		(48.9)
Change in fair value, pre-tax		73.8
Settlements reclassified to revenues, pre-tax		(48.9)
Scenario, Previously Reported [Member] | Targa Resources Corp. [Member]
Commodity hedging contracts:
Other comprehensive income (loss), related income tax		(0.6)
Commodity hedging contracts:
Other comprehensive income (loss) attributable to Targa Resources Corp., after tax		0.9
Other comprehensive income (loss), pre-tax		1.5
Scenario, Previously Reported [Member] | Targa Resources Corp. [Member] | Commodity Contracts [Member]
Commodity hedging contracts:
Change in fair value, related income tax		(2.8)
Settlements reclassified to revenues, related income tax		2.2
Commodity hedging contracts:
Change in fair value, after tax		4.6
Settlements reclassified to revenues, after tax		(3.7)
Change in fair value, pre-tax		7.4
Settlements reclassified to revenues, pre-tax		$ (5.9)

Significant Accounting Polici63

Significant Accounting Policies (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Unamortized debt issuance costs	[1]	$ 34.1	$ 42.7
Accounting Standards Update 2015-03
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Prior Period Reclassification Adjustment		42.7
Accounting Standard Update 2016-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Excess tax benefit and deficiencies recognized from stock based compensation		0.5
Revolving Credit Facility [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Debt issuance costs		$ 21.6	$ 14.5
[1]	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.

Business Acquisitions - Additio

Business Acquisitions - Additional Information (Details)	Feb. 27, 2015USD ($)$ / sharesshares	Mar. 31, 2015USD ($)	Feb. 28, 2015USD ($)shares	Dec. 31, 2015USD ($)$ / shares	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)$ / shares	Dec. 31, 2016USD ($)MMcf / dmi$ / shares	Dec. 31, 2015USD ($)$ / shares	Dec. 31, 2014USD ($)
Business Acquisition [Line Items]
Closing market price of common share (in dollars per share) | $ / shares	$ 99.58
Amount contributed to maintain general partner ownership percentage										$ 6,500,000	$ 8,400,000
Percentage of general partner's interest maintained									2.00%	2.00%	2.00%
Common stock, par value (in dollars per share) | $ / shares				$ 0.001				$ 0.001	$ 0.001	$ 0.001
Acquisition-related expenses								$ 27,300,000	$ 27,300,000
Revenues from acquired business								1,459,300,000
Net income (loss) from acquired business								$ (30,100,000)
Targa Pipeline Partners LP [Member]
Business Acquisition [Line Items]
Processing capacity | MMcf / d									2,053
Length of additional pipelines | mi									12,220
Targa Resources Partners LP [Member]
Business Acquisition [Line Items]
Purchase consideration									$ 7,300,000,000
Acquired debt and all other assumed liabilities included in purchase consideration									1,800,000,000
Atlas Energy [Member]
Business Acquisition [Line Items]
Percentage of interest in common units	100.00%
Purchase consideration	$ 1,600,000,000
Distribution of common units/shares for each common unit (in shares) | shares	0.1809
Cash payment (in dollars per common unit) | $ / shares	$ 9.12
Cash payments related to acquisition	$ 514,700,000
Total distribution of common shares (in shares) | shares	10,126,532
Common units acquired	$ 1,000,000,000
Closing market price of common share (in dollars per share) | $ / shares	$ 99.58
Common stock, par value (in dollars per share) | $ / shares	$ 0.001
Acquisition-related expenses	$ 11,000,000
Cash payment related to one-time cash payments and cash settlements of equity awards	7,300,000
Reduction in purchase price	(154,700,000)
Atlas Energy [Member] | Common Units [Member]
Business Acquisition [Line Items]
Total distribution of common shares (in shares) | shares			3,363,935
Common units acquired	147,400,000
Atlas Energy [Member] | Phantom Unit Awards [Member]
Business Acquisition [Line Items]
Cash payment related to one-time cash payments and cash settlements of equity awards	$ 4,500,000
Atlas Energy [Member] | Restricted Stock Units (RSUs) [Member]
Business Acquisition [Line Items]
Total distribution of common shares (in shares) | shares	81,740
Atlas Energy [Member] | Change Of Control Payments [Member]
Business Acquisition [Line Items]
Cash payments related to acquisition	$ 149,200,000
Atlas Energy [Member] | Equity Award Settlements [Member]
Business Acquisition [Line Items]
Cash payments related to acquisition	$ 88,000,000
Atlas Energy [Member] | Targa Resources Partners LP [Member] | Targa Pipeline Partners LP [Member] | Common Units [Member]
Business Acquisition [Line Items]
Total distribution of common shares (in shares) | shares	3,363,935
Atlas Pipeline Partners [Member]
Business Acquisition [Line Items]
Reduction in incentive distribution				$ 9,375,000	$ 9,375,000	$ 9,375,000	$ 9,375,000
Amount contributed to maintain general partner ownership percentage		$ 52,400,000	$ 52,400,000
Percentage of general partner's interest maintained		2.00%	2.00%
Atlas Pipeline Partners [Member] | Common Units [Member]
Business Acquisition [Line Items]
Common units owned by parent prior to closing (in units) | shares	5,754,253
Atlas Pipeline Partners [Member] | Revolving Credit Facility [Member]
Business Acquisition [Line Items]
Cash payments related to acquisition	$ 701,400,000									$ 701,400,000
Atlas Pipeline Partners [Member] | Phantom Unit Awards [Member]
Business Acquisition [Line Items]
Cash payment representing accelerated vesting of a portion of employees APL phantom awards	$ 600,000
Total distribution of common shares (in shares) | shares	629,231
Atlas Pipeline Partners [Member] | Targa Resources Partners LP [Member]
Business Acquisition [Line Items]
Purchase consideration	$ 5,300,000,000
Acquired debt and all other assumed liabilities included in purchase consideration	1,800,000,000
Payments for notes tendered and settled upon closing of merger	$ 1,200,000,000
Distribution of common units/shares for each common unit (in shares) | shares	0.5846
Cash payment (in dollars per common unit) | $ / shares	$ 1.26
Common units acquired	$ 2,600,000,000
Closing market price of common share (in dollars per share) | $ / shares	$ 43.82
Cash paid in lieu of unit issuances	$ 6,400,000
Atlas Pipeline Partners [Member] | Targa Resources Partners LP [Member] | Common Units [Member]
Business Acquisition [Line Items]
Total distribution of common shares (in shares) | shares			58,614,157
Atlas Pipeline Partners [Member] | Targa Resources Partners LP [Member] | Class E Preferred Units [Member]
Business Acquisition [Line Items]
Preferred units dividend percentage	8.25%
Atlas Pipeline Partners [Member] | Targa Resources Partners LP [Member] | Change Of Control Payments [Member]
Business Acquisition [Line Items]
Cash payments related to acquisition	$ 28,800,000
Atlas Pipeline Partners [Member] | Targa Resources Partners LP [Member] | Common Unit Holders [Member]
Business Acquisition [Line Items]
Cash payments related to acquisition	$ 128,000,000
Total distribution of common shares (in shares) | shares	58,614,157
Atlas Pipeline Partners [Member] | Targa Resources Partners LP [Member] | Distribution Rights Year 1 [Member]
Business Acquisition [Line Items]
Reduction in incentive distribution									9,375,000
Atlas Pipeline Partners [Member] | Targa Resources Partners LP [Member] | Distribution Rights Year 2 [Member]
Business Acquisition [Line Items]
Reduction in incentive distribution									6,250,000
Atlas Pipeline Partners [Member] | Targa Resources Partners LP [Member] | Distribution Rights Year 3 [Member]
Business Acquisition [Line Items]
Reduction in incentive distribution									2,500,000
Atlas Pipeline Partners [Member] | Targa Resources Partners LP [Member] | Distribution Rights Year 4 [Member]
Business Acquisition [Line Items]
Reduction in incentive distribution									$ 1,250,000

Business Acquisitions - Pro For

Business Acquisitions - Pro Forma Impact of Atlas Mergers on Consolidated Statement of Operations (Details) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)
Pro forma consolidated results of operations [Abstract]
Revenues	$ 6,947.3
Net income	$ (169.6)

Business Acquisitions - Pro F66

Business Acquisitions - Pro Forma Impact of Atlas Mergers on Consolidated Statement of Operations (Parenthetical) (Details) - USD ($) $ in Millions	10 Months Ended	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2016
Pro forma consolidated results of operations [Abstract]
Acquisition-related expenses	$ 27.3	$ 27.3
Atlas Resource Partners, LP [Member]
Pro forma consolidated results of operations [Abstract]
Percentage of equity interest sold		100.00%

Business Acquisitions - Fair Va

Business Acquisitions - Fair Value of Consideration Transferred (Details) - USD ($) $ in Millions		Feb. 27, 2015		Dec. 31, 2015
Fair Value of Consideration Transferred [Abstract]
Cash paid, net of cash acquired		$ 745.7	[1]	$ 1,574.4
Total fair value of consideration transferred		5,024.2		$ 5,024.2
Replacement Restricted Stock Units (RSUs) [Member]
Fair Value of Consideration Transferred [Abstract]
Consideration transferred equity interests issued and issuable	[2]	5.2
Replacement Phantom Units [Member]
Fair Value of Consideration Transferred [Abstract]
Consideration transferred equity interests issued and issuable	[2]	15
Targa Resources Partners LP [Member]
Fair Value of Consideration Transferred [Abstract]
Cash paid, net of cash acquired	[1]	828.7
Common Stock [Member]
Fair Value of Consideration Transferred [Abstract]
Consideration transferred equity interests issued and issuable		1,008.5
Common Units [Member] | Targa Resources Partners LP [Member]
Fair Value of Consideration Transferred [Abstract]
Consideration transferred equity interests issued and issuable		$ 2,421.1
[1]	Net of cash acquired of $40.8 million.
[2]	The fair value of consideration transferred in the form of replacement restricted stock unit awards and replacement phantom unit awards represent the allocation of the fair value of the awards to the pre-combination service period. The fair value of the awards associated with the post-combination service period will be recognized over the remaining service period of the award.

Business Acquisitions - Fair 68

Business Acquisitions - Fair Value of Consideration Transferred (Parenthetical) (Details) $ in Millions	Feb. 27, 2015USD ($)
Fair Value of Consideration Transferred [Abstract]
Cash acquired from acquisition	$ 40.8

Business Acquisitions - Fair 69

Business Acquisitions - Fair Value Determination Related to Mergers (Details) - USD ($) $ in Millions	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015	Feb. 27, 2015	Dec. 31, 2014
Fair value determination [Abstract]
Trade and other current receivables, net				$ 181.1
Other current assets				24.4
Assets from risk management activities				102.1
Property, plant and equipment				4,616.9
Investments in unconsolidated affiliates				214.5
Intangible assets				1,354.9
Other long-term assets				5.5
Current liabilities				(259.3)
Long-term debt				(1,573.3)
Deferred income tax liabilities, net				(13.6)
Other long-term liabilities				(119.1)
Total identifiable net assets				4,534.1
Noncontrolling interest in subsidiaries				(216.9)
Goodwill	$ 210	$ 393	$ 417	707	$ 0
Total fair value of consideration transferred			$ 5,024.2	$ 5,024.2

Business Acquisitions - Addit70

Business Acquisitions - Additional Information Pro Forma Impact of Atlas Mergers on Consolidated Statement of Operations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015	Feb. 27, 2015	Dec. 31, 2014
Measurement-period adjustments to preliminary acquisition date fair values [Abstract]
Trade receivables, fair value				$ 178.1
Trade receivables, gross amount				178.1
Contractual receivables included in current receivables				3
Contractual receivables included in other long term assets				4.5
Goodwill	$ 210	$ 393	$ 417	$ 707	$ 0
Amortizable period of goodwill for tax purposes	15 years

Business Acquisitions - Addit71

Business Acquisitions - Additional Information Mandatorily Redeemable Preferred Interests (Details) $ in Millions	Dec. 31, 2016USD ($)JointVenture	Dec. 31, 2015USD ($)
Redeemable Noncontrolling Interest [Line Items]
Other long-term liabilities	$ 215.1	$ 186.9
Mandatorily Redeemable Noncontrolling Interests [Member]
Redeemable Noncontrolling Interest [Line Items]
Other long-term liabilities	$ 109.3
Number of joint ventures | JointVenture	2

Business Acquisitions - Addit72

Business Acquisitions - Additional Information Contingent Consideration, Replacement Restricted Stock Units and Replacement Phantom Units (Details) $ in Millions	12 Months Ended
	Dec. 31, 2016USD ($)shares
Replacement Restricted Stock Units (RSUs) [Member]
Business Acquisition [Line Items]
Vesting period of original term	4 years
Number of common units called by replacement equity unit (in shares) | shares	1
Dividend payment period	60 days
Replacement Restricted Stock Units (RSUs) [Member] | Vesting Term One [Member]
Business Acquisition [Line Items]
Vesting percentage original term	25.00%
Replacement Restricted Stock Units (RSUs) [Member] | Vesting Term Two [Member]
Business Acquisition [Line Items]
Vesting percentage original term	25.00%
Replacement Restricted Stock Units (RSUs) [Member] | Vesting Term Three [Member]
Business Acquisition [Line Items]
Vesting percentage original term	75.00%
Replacement Phantom Units [Member]
Business Acquisition [Line Items]
Number of common units called by replacement equity unit (in shares) | shares	1
Dividend payment period	60 days
Replacement Phantom Units [Member] | Vesting Term One [Member]
Business Acquisition [Line Items]
Vesting percentage original term	25.00%
Vesting period of original term	4 years
Replacement Phantom Units [Member] | Vesting Term Two [Member]
Business Acquisition [Line Items]
Vesting percentage original term	33.00%
Vesting period of original term	3 years
Atlas Pipeline Partners [Member]
Business Acquisition [Line Items]
Contingent consideration additional amount | $	$ 6
Contingent liability acquisition date fair value | $	$ 4.2

Business Acquisitions - Addit73

Business Acquisitions - Additional Information Subsequent Event (Details)	Jan. 26, 2017USD ($)$ / sharesshares	Jan. 22, 2017USD ($)aMMcfbbl	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Oct. 31, 2016
Business Acquisition [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired					37.00%
Proceeds from issuance of common stock			$ 577,300,000	$ 336,800,000
Subsequent Event [Member]
Business Acquisition [Line Items]
Public offering of common shares (including underwriters’ overallotment option) | shares	9,200,000
Shares issued price | $ / shares	$ 57.65
Proceeds from issuance of common stock	$ 524,100,000
Outrigger Permian Acquisition [Member] | Subsequent Event [Member]
Business Acquisition [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired		100.00%
Cash payments related to acquisition		$ 475,000,000
Acquired debt and all other assumed liabilities included in purchase consideration		90,000,000
Initial purchase price	$ 565,000,000
Outrigger Permian Acquisition [Member] | Subsequent Event [Member] | Maximum [Member]
Business Acquisition [Line Items]
Additional cash paid in potential earn-out payment		$ 935,000,000
Outrigger Delaware [Member] | Subsequent Event [Member] | Gathering Systems [Member]
Business Acquisition [Line Items]
Oil and gas contracts average weighted contract life		14 years
Gas processing capacity | MMcf		70
Crude gathering capacity | bbl		40,000
Outrigger Delaware [Member] | Subsequent Event [Member] | Minimum [Member] | Gathering Systems [Member]
Business Acquisition [Line Items]
Area of gas gathering and processing and crude gathering systems | a		145,000
Outrigger Midland [Member] | Subsequent Event [Member] | Gathering Systems [Member]
Business Acquisition [Line Items]
Oil and gas contracts average weighted contract life		13 years
Gas processing capacity | MMcf		10
Crude gathering capacity | bbl		40,000
Outrigger Midland [Member] | Subsequent Event [Member] | Minimum [Member] | Gathering Systems [Member]
Business Acquisition [Line Items]
Area of gas gathering and processing and crude gathering systems | a		105,000

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Inventory Disclosure [Abstract]
Commodities	$ 126.9	$ 128.3
Materials and supplies	10.8	12.7
Inventories, net	$ 137.7	$ 141

Property, Plant and Equipment75

Property, Plant and Equipment and Intangible Assets - Property, Plant and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 12,518.7	$ 11,935.1
Accumulated depreciation	(2,827.7)	(2,232.4)
Property, plant and equipment, net	9,691	9,702.7
Intangible assets	2,036.6	2,036.6
Accumulated amortization	(382.6)	(226.5)
Intangible assets, net	$ 1,654	1,810.1	$ 591.9
Estimated useful lives	20 years
Gathering Systems [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 6,626.8	6,304.5
Gathering Systems [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Gathering Systems [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	20 years
Processing and Fractionation Facilities [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 3,390.2	2,995.2
Processing and Fractionation Facilities [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Processing and Fractionation Facilities [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	25 years
Terminaling and Storage Facilities [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 1,205	1,115
Terminaling and Storage Facilities [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Terminaling and Storage Facilities [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	25 years
Transportation Assets [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 451.4	454
Transportation Assets [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	10 years
Transportation Assets [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	25 years
Other Property, Plant and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 274.2	221.1
Other Property, Plant and Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Other Property, Plant and Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	25 years
Land [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 121.3	108.8
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 449.8	$ 736.5

Property, Plant and Equipment76

Property, Plant and Equipment and Intangible Assets - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Depreciation expenses for property, plant and equipment		$ 601.5	$ 540.4	$ 289.5
Non-cash pre-tax impairment charges	$ 32.6		32.6	3.2
Additions from acquisition			1,354.9
Estimated useful lives		20 years
Estimated amortization expense for intangible assets [Abstract]
Amortization		$ 156.1	136.7	$ 61.5
2,017		149.4
2,018		135.7
2,019		124.7
2,020		112.5
2,021		$ 102.6
Weighted average amortization period, intangible assets		17 years 7 months 6 days
Atlas Energy [Member]
Property, Plant and Equipment [Line Items]
Additions from acquisition			$ 1,354.9
Estimated useful lives			20 years
Badlands [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives			20 years

Property, Plant and Equipment77

Property, Plant and Equipment and Intangible Assets - Schedule of Changes in Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Finite Lived Intangible Assets Roll Forward
Beginning of period	$ 1,810.1	$ 591.9
Additions from acquisition		1,354.9
Amortization	(156.1)	(136.7)	$ (61.5)
Intangible assets, net	$ 1,654	$ 1,810.1	$ 591.9

Goodwill - Additional Informati

Goodwill - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended			12 Months Ended
	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Feb. 27, 2015
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill	$ 210	$ 393	$ 417	$ 210	$ 417	$ 0	$ 707
Goodwill impairment	$ 183	$ 24	$ 290	$ 207	$ 290	$ 0

Goodwill - Changes in Gross Amo

Goodwill - Changes in Gross Amounts of Goodwill (Details) - USD ($) $ in Millions	3 Months Ended			12 Months Ended
	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Goodwill [Roll Forward]
Beginning balance		$ 417		$ 417	$ 0
Acquisition, February 27, 2015					707
Provisional impairment	$ (183)	(24)	$ (290)	(207)	(290)	$ 0
Ending balance	210	393	417	210	417	0
West Texas LPG Pipeline Limited Partnership [Member]
Goodwill [Roll Forward]
Beginning balance		326.9		326.9	0
Acquisition, February 27, 2015					364.5
Provisional impairment	(137.8)	(14.4)			(37.6)
Ending balance	174.7		326.9	174.7	326.9	0
SouthTX [Member]
Goodwill [Roll Forward]
Beginning balance		90.1		90.1	0
Acquisition, February 27, 2015					160.3
Provisional impairment	(45.2)	(9.6)			(70.2)
Ending balance	35.3		90.1	35.3	90.1	0
SouthOK [Member]
Goodwill [Roll Forward]
Beginning balance		0		0	0
Acquisition, February 27, 2015					182.2
Provisional impairment	0	$ 0			(182.2)
Ending balance	$ 0		$ 0	$ 0	$ 0	$ 0

Investments in Unconsolidated80

Investments in Unconsolidated Affiliates - Additional Information (Details) - Targa Resources Partners LP [Member] $ in Millions	12 Months Ended
	Dec. 31, 2016USD ($)JointVenture
Gulf Coast Fractionators LP [Member]
Schedule of Equity Method Investments [Line Items]
Ownership interest	38.80%
T2 Joint Ventures [Member]
Schedule of Equity Method Investments [Line Items]
Number of non-operated joint ventures acquired in Atlas mergers | JointVenture	3
Basis difference on preliminary fair values | $	$ 36.2
Preliminary estimated useful lives of the underlying assets	20 years
T2 LaSalle [Member]
Schedule of Equity Method Investments [Line Items]
Ownership interest	75.00%
T2 Eagle Ford [Member]
Schedule of Equity Method Investments [Line Items]
Ownership interest	50.00%
T2 EF Cogen [Member]
Schedule of Equity Method Investments [Line Items]
Ownership interest	50.00%

Investments in Unconsolidated81

Investments in Unconsolidated Affiliates - Activity Related to Partnership's Investments in Unconsolidated Affiliates (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Schedule of Equity Method Investments [Line Items]
Beginning of period		$ 258.9	$ 50.2	$ 55.9
Fair value of T2 Joint Ventures acquired			214.5
Equity earnings (loss)		(14.3)	(2.5)	18
Cash distributions	[1]	(8.2)	(15)	(23.7)
Cash calls for expansion projects		4.4	11.7
End of period		240.8	258.9	50.2
Targa Resources Partners LP [Member] | Gulf Coast Fractionators LP [Member]
Schedule of Equity Method Investments [Line Items]
Beginning of period		49.5	50.2	55.9
Equity earnings (loss)		4.1	13.8	18
Cash distributions	[1]	(7.5)	(14.5)	(23.7)
End of period		46.1	49.5	$ 50.2
Targa Resources Partners LP [Member] | T2 LaSalle [Member]
Schedule of Equity Method Investments [Line Items]
Beginning of period		63.6
Fair value of T2 Joint Ventures acquired			67.5
Equity earnings (loss)		(5.2)	(3.9)
Cash calls for expansion projects		0.2
End of period		58.6	63.6
Targa Resources Partners LP [Member] | T2 Eagle Ford [Member]
Schedule of Equity Method Investments [Line Items]
Beginning of period		123.8
Fair value of T2 Joint Ventures acquired			126.7
Equity earnings (loss)		(9.4)	(9.4)
Cash calls for expansion projects		4.2	6.5
End of period		118.6	123.8
Targa Resources Partners LP [Member] | T2 EF Cogen [Member]
Schedule of Equity Method Investments [Line Items]
Beginning of period		22
Fair value of T2 Joint Ventures acquired			20.3
Equity earnings (loss)		(3.8)	(3)
Cash distributions	[1]	(0.7)	(0.5)
Cash calls for expansion projects			5.2
End of period		$ 17.5	$ 22
[1]	Includes $4.1 million and $1.2 million in distributions received from GCF and the T2 Joint Ventures in excess of our share of cumulative earnings for the years ended December 31, 2016 and 2015. Includes $5.7 million in distributions from GCF in excess of our share of cumulative earnings for the year ended December 31, 2014. Such excess distributions are considered a return of capital and disclosed in cash flows from investing activities in the Consolidated Statements of Cash Flows.

Investments in Unconsolidated82

Investments in Unconsolidated Affiliates - Activity Related to Partnership's Investments in Unconsolidated Affiliates (Parenthetical) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Schedule of Equity Method Investments [Line Items]
Return of capital from unconsolidated affiliate	$ 4.1	$ 1.2	$ 5.7
Targa Resources Partners LP [Member]
Schedule of Equity Method Investments [Line Items]
Return of capital from unconsolidated affiliate	$ 4.1	$ 1.2	$ 5.7

Accounts Payable and Accrued 83

Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Components of accounts payable and accrued liabilities [Abstract]
Commodities	$ 574.4	$ 378.5
Other goods and services	117	142.9
Interest	52.3	81
Compensation and benefits	37.2	16
Income and other taxes	24.2	13.4
Preferred dividends payable	22.9
Other	15.5	18.6
Accounts payable and accrued liabilities	$ 843.5	$ 650.4

Accounts Payable and Accrued 84

Accounts Payable and Accrued Liabilities - Additional Information (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Payables And Accruals [Abstract]
Outstanding checks	$ 30.5	$ 34.2

Debt Obligations - Summary Of D

Debt Obligations - Summary Of Debt Obligations (Details) - USD ($) $ in Millions		Dec. 31, 2016	Dec. 31, 2015
Current Obligations of the Partnership [Abstract]
Current debt	[1]	$ 275	$ 219.3
Long-term [Abstract]
Long-term debt		4,606	5,718.8
Long-term debt including Unamortized premium(discount) and Debt issuance costs	[1]	4,640.1	5,761.5
Debt issuance costs, net of amortization	[1]	(34.1)	(42.7)
Total debt obligations	[1]	4,881	5,938.1
Letters of credit outstanding		13.2	12.9
Secured Debt [Member] | TRC Senior Secured Term Loan due February 2022 [Member]
Long-term [Abstract]
Long-term debt		160	160
Unamortized discount/premium		(2.2)	(2.5)
Senior Unsecured Notes [Member] | Targa Pipeline Partners LP [Member] | Senior Unsecured 6 5/8% Notes due October 2020 [Member]
Long-term [Abstract]
Long-term debt	[2]	0	12.9
Unamortized discount/premium	[1]	0	0.2
Senior Unsecured Notes [Member] | Targa Pipeline Partners LP [Member] | Senior Unsecured 4 3/4% Notes due November 2021 [Member]
Long-term [Abstract]
Long-term debt	[2]	6.5	6.5
Senior Unsecured Notes [Member] | Targa Pipeline Partners LP [Member] | Senior Unsecured 5 7/8% Notes due August 2023 [Member]
Long-term [Abstract]
Long-term debt	[2]	48.1	48.1
Unamortized discount/premium	[1]	0.5	0.5
Revolving Credit Facility [Member] | TRC Senior Secured Revolving Credit Facility due February 2020 [Member]
Long-term [Abstract]
Long-term debt	[3]	275	440
Targa Resources Partners LP [Member] | TRP Senior Secured Revolving Credit Facility due October 2020 [Member]
Long-term [Abstract]
Long-term debt	[4]	150	280
Targa Resources Partners LP [Member] | Secured Debt [Member] | TRC Senior Secured Revolving Credit Facility [Member]
Long-term [Abstract]
Letters of credit outstanding	[3]	0	0
Targa Resources Partners LP [Member] | Senior Unsecured Notes [Member] | Senior Unsecured 5% Notes due January 2018 [Member]
Long-term [Abstract]
Long-term debt	[1]	250.5	1,100
Targa Resources Partners LP [Member] | Senior Unsecured Notes [Member] | Senior Unsecured 4 1/8% notes due November 2019 [Member]
Long-term [Abstract]
Long-term debt	[1]	749.4	800
Targa Resources Partners LP [Member] | Senior Unsecured Notes [Member] | Senior Unsecured 6 5/8% Notes due October 2020 [Member]
Long-term [Abstract]
Long-term debt	[1]	0	342.1
Unamortized discount/premium	[1]	0	5
Targa Resources Partners LP [Member] | Senior Unsecured Notes [Member] | Senior Unsecured 6 7/8% Notes due February 2021 [Member]
Long-term [Abstract]
Long-term debt	[1]	0	483.6
Unamortized discount/premium	[1]	0	(22.1)
Targa Resources Partners LP [Member] | Senior Unsecured Notes [Member] | Senior Unsecured 6 3/8% Notes due August 2022 [Member]
Long-term [Abstract]
Long-term debt	[1]	278.7	300
Targa Resources Partners LP [Member] | Senior Unsecured Notes [Member] | Senior Unsecured 5 1/4% Notes due May 2023 [Member]
Long-term [Abstract]
Long-term debt	[1]	559.6	583.7
Targa Resources Partners LP [Member] | Senior Unsecured Notes [Member] | Senior Unsecured 4 1/4% Notes due November 2023 [Member]
Long-term [Abstract]
Long-term debt	[1]	583.9	623.5
Targa Resources Partners LP [Member] | Senior Unsecured Notes [Member] | Senior Unsecured 6 3/4% Notes due March 2024 [Member]
Long-term [Abstract]
Long-term debt	[1]	580.1	600
Targa Resources Partners LP [Member] | Senior Unsecured Notes [Member] | Senior Unsecured 5 1/8% Notes due February 2025 [Member]
Long-term [Abstract]
Long-term debt	[1]	500	0
Targa Resources Partners LP [Member] | Senior Unsecured Notes [Member] | Senior Unsecured 5 3/8% Notes due February 2027 [Member]
Long-term [Abstract]
Long-term debt	[1]	500	0
Targa Resources Partners LP [Member] | Revolving Credit Facility [Member] | TRP Senior Secured Revolving Credit Facility due October 2020 [Member]
Long-term [Abstract]
Letters of credit outstanding	[3]	$ 13.2	$ 12.9
[1]	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.
[2]	TPL notes are not guaranteed by us or the Partnership.
[3]	As of December 31, 2016, availability under TRC’s $670 million senior secured revolving credit facility (“TRC Revolver”) was $395.0 million.
[4]	As of December 31, 2016, availability under the Partnership’s $1.6 billion senior secured revolving credit facility (“TRP Revolver”) was $1,436.8 million.

Debt Obligations - Summary Of86

Debt Obligations - Summary Of Debt Obligations (Parenthetical) (Details)	12 Months Ended
	Dec. 31, 2016USD ($)
Revolving Credit Facility [Member] | TRC Senior Secured Revolving Credit Facility due February 2020 [Member]
Debt Instrument [Line Items]
Maturity date	Feb. 29, 2020
Maximum borrowing capacity	$ 670,000,000
Remaining borrowing capacity	$ 395,000,000
Secured Debt [Member] | TRC Senior Secured Term Loan due February 2022 [Member]
Debt Instrument [Line Items]
Maturity date	Feb. 28, 2022
Senior Unsecured Notes [Member] | Targa Pipeline Partners LP [Member] | Senior Unsecured 6 5/8% Notes due October 2020 [Member]
Debt Instrument [Line Items]
Maturity date	Oct. 1, 2020
Interest rate on fixed rate debt	6.625%
Senior Unsecured Notes [Member] | Targa Pipeline Partners LP [Member] | Senior Unsecured 4 3/4% Notes due November 2021 [Member]
Debt Instrument [Line Items]
Maturity date	Nov. 15, 2021
Interest rate on fixed rate debt	4.75%
Senior Unsecured Notes [Member] | Targa Pipeline Partners LP [Member] | Senior Unsecured 5 7/8% Notes due August 2023 [Member]
Debt Instrument [Line Items]
Maturity date	Aug. 1, 2023
Interest rate on fixed rate debt	5.875%
Targa Resources Partners LP [Member] | Accounts Receivable Securitization Facility [Member] | Accounts Receivable Securitization Facility Due December 2017 [Member]
Debt Instrument [Line Items]
Maturity date	Dec. 31, 2017
Targa Resources Partners LP [Member] | Revolving Credit Facility [Member] | TRP Senior Secured Revolving Credit Facility due October 2020 [Member]
Debt Instrument [Line Items]
Maturity date	Oct. 31, 2020
Maximum borrowing capacity	$ 1,600,000
Remaining borrowing capacity	$ 1,436,800,000
Targa Resources Partners LP [Member] | Senior Unsecured Notes [Member] | Senior Unsecured 5% Notes due January 2018 [Member]
Debt Instrument [Line Items]
Maturity date	Jan. 15, 2018
Interest rate on fixed rate debt	5.00%
Targa Resources Partners LP [Member] | Senior Unsecured Notes [Member] | Senior Unsecured 4 1/8% notes due November 2019 [Member]
Debt Instrument [Line Items]
Maturity date	Nov. 15, 2019
Interest rate on fixed rate debt	4.125%
Targa Resources Partners LP [Member] | Senior Unsecured Notes [Member] | Senior Unsecured 6 5/8% Notes due October 2020 [Member]
Debt Instrument [Line Items]
Maturity date	Oct. 1, 2020
Interest rate on fixed rate debt	6.625%
Targa Resources Partners LP [Member] | Senior Unsecured Notes [Member] | Senior Unsecured 6 7/8% Notes due February 2021 [Member]
Debt Instrument [Line Items]
Maturity date	Feb. 1, 2021
Interest rate on fixed rate debt	6.875%
Targa Resources Partners LP [Member] | Senior Unsecured Notes [Member] | Senior Unsecured 6 3/8% Notes due August 2022 [Member]
Debt Instrument [Line Items]
Maturity date	Aug. 1, 2022
Interest rate on fixed rate debt	6.375%
Targa Resources Partners LP [Member] | Senior Unsecured Notes [Member] | Senior Unsecured 5 1/4% Notes due May 2023 [Member]
Debt Instrument [Line Items]
Maturity date	May 1, 2023
Interest rate on fixed rate debt	5.25%
Targa Resources Partners LP [Member] | Senior Unsecured Notes [Member] | Senior Unsecured 4 1/4% Notes due November 2023 [Member]
Debt Instrument [Line Items]
Maturity date	Nov. 15, 2023
Interest rate on fixed rate debt	4.25%
Targa Resources Partners LP [Member] | Senior Unsecured Notes [Member] | Senior Unsecured 6 3/4% Notes due March 2024 [Member]
Debt Instrument [Line Items]
Maturity date	Mar. 15, 2024
Interest rate on fixed rate debt	6.75%
Targa Resources Partners LP [Member] | Senior Unsecured Notes [Member] | Senior Unsecured 5 1/8% Notes due February 2025 [Member]
Debt Instrument [Line Items]
Maturity date	Feb. 28, 2025
Interest rate on fixed rate debt	5.125%
Targa Resources Partners LP [Member] | Senior Unsecured Notes [Member] | Senior Unsecured 5 3/8% Notes due February 2027 [Member]
Debt Instrument [Line Items]
Maturity date	Feb. 28, 2027
Interest rate on fixed rate debt	5.375%

Debt Obligations - Schedule of

Debt Obligations - Schedule of Contractual Maturities of Debt Obligations (Details) $ in Millions	Dec. 31, 2016USD ($)
Contractual Obligation [Line Items]
Total	$ 4,916.8
2,017	275
2,018	250.5
2,019	749.4
2,020	425
2,021	6.5
After 2,021	3,210.4
Accounts Receivable Securitization Facility [Member] | Targa Resources Partners LP [Member]
Contractual Obligation [Line Items]
Total	275
2,017	275
2,018	0
2,019	0
2,020	0
2,021	0
After 2,021	0
Secured Debt [Member]
Contractual Obligation [Line Items]
Total	160
2,017	0
2,018	0
2,019	0
2,020	0
2,021	0
After 2,021	160
Senior Unsecured Notes [Member] | Targa Resources Partners LP [Member]
Contractual Obligation [Line Items]
Total	4,056.8
2,017	0
2,018	250.5
2,019	749.4
2,020	0
2,021	6.5
After 2,021	3,050.4
TRC Senior Secured Revolving Credit Facility [Member]
Contractual Obligation [Line Items]
Total	275
2,017	0
2,018	0
2,019	0
2,020	275
2,021	0
After 2,021	0
TRP Revolver [Member]
Contractual Obligation [Line Items]
Total	150
2,017	0
2,018	0
2,019	0
2,020	150
2,021	0
After 2,021	$ 0

Debt Obligations - Range of Int

Debt Obligations - Range of Interest Rates and Weighted Average Interest Rate Incurred on Variable Rate Debt Obligations (Details)	Dec. 31, 2016
TRC Revolver [Member]
Debt Instrument [Line Items]
Weighted average interest rate incurred	2.30%
TRP Revolver [Member]
Debt Instrument [Line Items]
Weighted average interest rate incurred	2.80%
Secured Debt [Member]
Debt Instrument [Line Items]
Range of interest rates incurred	5.75%	[1]
Weighted average interest rate incurred	5.75%	[1]
Targa Resources Partners LP [Member] | Accounts Receivable Securitization Facility [Member]
Debt Instrument [Line Items]
Weighted average interest rate incurred	1.30%
Minimum [Member] | TRC Revolver [Member]
Debt Instrument [Line Items]
Range of interest rates incurred	2.20%
Minimum [Member] | TRP Revolver [Member]
Debt Instrument [Line Items]
Range of interest rates incurred	2.40%
Minimum [Member] | Targa Resources Partners LP [Member] | Accounts Receivable Securitization Facility [Member]
Debt Instrument [Line Items]
Range of interest rates incurred	1.20%
Maximum [Member] | TRC Revolver [Member]
Debt Instrument [Line Items]
Range of interest rates incurred	4.50%
Maximum [Member] | TRP Revolver [Member]
Debt Instrument [Line Items]
Range of interest rates incurred	5.30%
Maximum [Member] | Targa Resources Partners LP [Member] | Accounts Receivable Securitization Facility [Member]
Debt Instrument [Line Items]
Range of interest rates incurred	1.80%
[1]	(1)The TRC senior secured term loan is a Eurodollar rate loan with an interest rate of LIBOR (with a LIBOR floor of 1%) plus an applicable rate of 4.75%.

Debt Obligations - Range of I89

Debt Obligations - Range of Interest Rates and Weighted Average Interest Rate Incurred on Variable Rate Debt Obligations (Parenthetical) (Details) - Secured Debt [Member]	12 Months Ended
	Dec. 31, 2016
LIBOR [Member]
Debt Instrument [Line Items]
Senior secured loan variable rate	1.00%
Eurodollar Rate [Member]
Debt Instrument [Line Items]
Interest rate on fixed rate debt	4.75%

Debt Obligations, TRC Revolving

Debt Obligations, TRC Revolving Credit Agreement - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2016USD ($)
Revolving Credit Facility [Member] | TRC Senior Secured Revolving Credit Facility due February 2020 [Member]
TRC Revolving Credit Agreement [Abstract]
Maturity date	Feb. 29, 2020
Revolving Credit Facility [Member] | TRC Senior Secured Revolving Credit Facility due February 2020 [Member] | Minimum [Member]
TRC Revolving Credit Agreement [Abstract]
Commitment fee percentage	0.375%
Interest rate on fixed rate debt	1.75%
Revolving Credit Facility [Member] | TRC Senior Secured Revolving Credit Facility due February 2020 [Member] | Maximum [Member]
TRC Revolving Credit Agreement [Abstract]
Commitment fee percentage	0.50%
Interest rate on fixed rate debt	2.75%
TRC Credit Agreement [Member]
TRC Revolving Credit Agreement [Abstract]
Leverage ratio for each fiscal quarter in first year	4.50
Leverage ratio for each fiscal quarter thereafter	4
TRC Credit Agreement [Member] | Senior Secured Term Loan [Member]
TRC Revolving Credit Agreement [Abstract]
Expiration period for credit facility	7 years
Aggregate principal amount	$ 430
Additional commitment increase available upon request	$ 200
Debt instrument discount rate	1.75%
Cash payments related to change of control payments	$ 160.2
TRC Credit Agreement [Member] | Revolving Credit Facility [Member]
TRC Revolving Credit Agreement [Abstract]
Expiration period for credit facility	5 years
Maturity date	Feb. 27, 2020
Aggregate principal amount	$ 670
Additional commitment increase available upon request	$ 200

Debt Obligations, Partnership's

Debt Obligations, Partnership's Revolving Credit Facility - Additional Information (Details) - USD ($)	Feb. 27, 2015	Oct. 31, 2016	Dec. 31, 2016	Dec. 31, 2016	Dec. 31, 2015	Feb. 28, 2015
Debt Instrument [Line Items]
Write off debt issuance cost				$ 3,500,000	$ 100,000
Atlas Pipeline Partners [Member]
Debt Instrument [Line Items]
Cash payments related to change of control payments					28,800,000
Revolving Credit Facility [Member] | Atlas Pipeline Partners [Member]
Debt Instrument [Line Items]
Cash payments related to acquisition	$ 701,400,000				$ 701,400,000
Targa Resources Partners LP [Member] | TRP Revolver [Member]
Debt Instrument [Line Items]
Maximum consolidated leverage ratio				5.50
Minimum ratio of consolidated EBITDA to consolidated interest expense				2.25
Targa Resources Partners LP [Member] | TRP Revolver [Member] | Minimum [Member]
Debt Instrument [Line Items]
Commitment fee percentage				0.30%
Targa Resources Partners LP [Member] | TRP Revolver [Member] | Maximum [Member]
Debt Instrument [Line Items]
Commitment fee percentage				0.50%
Targa Resources Partners LP [Member] | TRP Revolver [Member] | Federal Funds Rate [Member]
Debt Instrument [Line Items]
Commitment fee percentage				0.50%
Targa Resources Partners LP [Member] | TRP Revolver [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				1.00%
Targa Resources Partners LP [Member] | TRP Revolver [Member] | Base Rate [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				0.75%
Targa Resources Partners LP [Member] | TRP Revolver [Member] | Base Rate [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				1.75%
Targa Resources Partners LP [Member] | TRP Revolver [Member] | Eurodollar | Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				1.75%
Targa Resources Partners LP [Member] | TRP Revolver [Member] | Eurodollar | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				2.75%
Targa Resources Partners LP [Member] | Revolving Credit Facility [Member] | Second Amendment [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 1,600,000,000
Additional commitment increase available upon request		$ 500,000,000				$ 300,000,000
Debt maturity period		2020-10
Write off debt issuance cost			$ 900,000
Targa Resources Partners LP [Member] | Letters of Credit [Member] | TRP Revolver [Member] | Minimum [Member]
Debt Instrument [Line Items]
Interest rate on fixed rate debt			1.75%	1.75%
Targa Resources Partners LP [Member] | Letters of Credit [Member] | TRP Revolver [Member] | Maximum [Member]
Debt Instrument [Line Items]
Interest rate on fixed rate debt			2.75%	2.75%

Debt Obligations, Partnership92

Debt Obligations, Partnership's Accounts Receivable Securitization Facility- Additional Information (Details) - Targa Resources Partners LP [Member] - Accounts Receivable Securitization Facility [Member]	Dec. 31, 2016USD ($)
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 275,000,000
Funding under securitization facility	$ 275,000,000

Debt Obligations, Redemption Da

Debt Obligations, Redemption Dates and Price - Additional information (Details) - Targa Resources Partners LP [Member] - Senior Unsecured Notes [Member]	12 Months Ended
	Dec. 31, 2016
Senior Unsecured 6 7/8% Notes due February 2021 [Member]
Debt Instrument [Line Items]
Maximum percentage of aggregate principal amount of debt redeemable by the Partnership with equity offerings	35.00%
Redemption condition, minimum percentage of aggregate principal amount outstanding immediately after occurrence of redemption	65.00%
Redemption condition, maximum number of days from date of closing of equity offerings	180 days
Senior Unsecured 6 3/8% Notes due August 2022 [Member]
Debt Instrument [Line Items]
Maximum percentage of aggregate principal amount of debt redeemable by the Partnership with equity offerings	35.00%
Redemption condition, minimum percentage of aggregate principal amount outstanding immediately after occurrence of redemption	65.00%
Redemption condition, maximum number of days from date of closing of equity offerings	180 days
Senior Unsecured 5 1/4% Notes due May 2023 [Member]
Debt Instrument [Line Items]
Maximum percentage of aggregate principal amount of debt redeemable by the Partnership with equity offerings	35.00%
Redemption condition, minimum percentage of aggregate principal amount outstanding immediately after occurrence of redemption	65.00%
Redemption condition, maximum number of days from date of closing of equity offerings	180 days
Senior Unsecured 4 1/4% Notes due November 2023 [Member]
Debt Instrument [Line Items]
Maximum percentage of aggregate principal amount of debt redeemable by the Partnership with equity offerings	35.00%
Redemption condition, minimum percentage of aggregate principal amount outstanding immediately after occurrence of redemption	65.00%
Redemption condition, maximum number of days from date of closing of equity offerings	180 days
Senior Unsecured 6 5/8% Notes due October 2020 [Member]
Debt Instrument [Line Items]
Maximum percentage of aggregate principal amount of debt redeemable by the Partnership with equity offerings	35.00%
Redemption condition, minimum percentage of aggregate principal amount outstanding immediately after occurrence of redemption	65.00%
Redemption condition, maximum number of days from date of closing of equity offerings	180 days
Senior Unsecured 6 5/8% Notes due October 2020 [Member] | Atlas Pipeline Partners [Member]
Debt Instrument [Line Items]
Maximum percentage of aggregate principal amount of debt redeemable by the Partnership with equity offerings	35.00%
Redemption condition, minimum percentage of aggregate principal amount outstanding immediately after occurrence of redemption	65.00%
Redemption condition, maximum number of days from date of closing of equity offerings	180 days
Senior Unsecured 6 3/4% Notes due March 2024 [Member]
Debt Instrument [Line Items]
Maximum percentage of aggregate principal amount of debt redeemable by the Partnership with equity offerings	35.00%
Redemption condition, minimum percentage of aggregate principal amount outstanding immediately after occurrence of redemption	65.00%
Redemption condition, maximum number of days from date of closing of equity offerings	180 days
Senior Unsecured 4 1/8% notes due November 2019 [Member]
Debt Instrument [Line Items]
Maximum percentage of aggregate principal amount of debt redeemable by the Partnership with equity offerings	35.00%
Redemption condition, minimum percentage of aggregate principal amount outstanding immediately after occurrence of redemption	65.00%
Redemption condition, maximum number of days from date of closing of equity offerings	180 days
Senior Unsecured 4 3/4% Notes due November 2021 [Member] | Atlas Pipeline Partners [Member]
Debt Instrument [Line Items]
Maximum percentage of aggregate principal amount of debt redeemable by the Partnership with equity offerings	35.00%
Redemption condition, minimum percentage of aggregate principal amount outstanding immediately after occurrence of redemption	65.00%
Redemption condition, maximum number of days from date of closing of equity offerings	180 days
Senior Unsecured 5 7/8% Notes due August 2023 [Member] | Atlas Pipeline Partners [Member]
Debt Instrument [Line Items]
Maximum percentage of aggregate principal amount of debt redeemable by the Partnership with equity offerings	35.00%
Redemption condition, minimum percentage of aggregate principal amount outstanding immediately after occurrence of redemption	65.00%
Redemption condition, maximum number of days from date of closing of equity offerings	180 days

Debt Obligations, Redemption 94

Debt Obligations, Redemption Dates and Price (Details) - Senior Unsecured Notes [Member]	12 Months Ended
	Dec. 31, 2016
Senior Unsecured 4 3/4% Notes due November 2021 [Member] | Targa Pipeline Partners LP [Member] | 2017 [Member]
Redemption Dates and Prices [Abstract]
Price	102.375%
Senior Unsecured 4 3/4% Notes due November 2021 [Member] | Targa Pipeline Partners LP [Member] | 2018 [Member]
Redemption Dates and Prices [Abstract]
Price	101.188%
Senior Unsecured 4 3/4% Notes due November 2021 [Member] | Targa Pipeline Partners LP [Member] | 2019 and Thereafter [Member]
Redemption Dates and Prices [Abstract]
Price	100.00%
Senior Unsecured 5 7/8% Notes due August 2023 [Member] | Targa Pipeline Partners LP [Member] | 2018 [Member]
Redemption Dates and Prices [Abstract]
Price	102.938%
Senior Unsecured 5 7/8% Notes due August 2023 [Member] | Targa Pipeline Partners LP [Member] | 2019 [Member]
Redemption Dates and Prices [Abstract]
Price	101.958%
Senior Unsecured 5 7/8% Notes due August 2023 [Member] | Targa Pipeline Partners LP [Member] | 2020 [Member]
Redemption Dates and Prices [Abstract]
Price	100.979%
Senior Unsecured 5 7/8% Notes due August 2023 [Member] | Targa Pipeline Partners LP [Member] | 2021 and Thereafter [Member]
Redemption Dates and Prices [Abstract]
Price	100.00%
Targa Resources Partners LP [Member] | Senior Unsecured 4 1/8% notes due November 2019 [Member]
Redemption Dates and Prices [Abstract]
Any Date Prior To	Nov. 15, 2017
Price	104.125%
Targa Resources Partners LP [Member] | Senior Unsecured 4 1/8% notes due November 2019 [Member] | 2016 [Member]
Redemption Dates and Prices [Abstract]
Price	102.063%
Targa Resources Partners LP [Member] | Senior Unsecured 4 1/8% notes due November 2019 [Member] | 2017 [Member]
Redemption Dates and Prices [Abstract]
Price	101.031%
Targa Resources Partners LP [Member] | Senior Unsecured 4 1/8% notes due November 2019 [Member] | 2018 and Thereafter [Member]
Redemption Dates and Prices [Abstract]
Price	100.00%
Targa Resources Partners LP [Member] | Senior Unsecured 6 3/4% Notes due March 2024 [Member]
Redemption Dates and Prices [Abstract]
Any Date Prior To	Sep. 15, 2018
Price	106.75%
Targa Resources Partners LP [Member] | Senior Unsecured 6 3/4% Notes due March 2024 [Member] | 2019 [Member]
Redemption Dates and Prices [Abstract]
Price	103.375%
Targa Resources Partners LP [Member] | Senior Unsecured 6 3/4% Notes due March 2024 [Member] | 2020 [Member]
Redemption Dates and Prices [Abstract]
Price	101.688%
Targa Resources Partners LP [Member] | Senior Unsecured 6 3/4% Notes due March 2024 [Member] | 2021 and Thereafter [Member]
Redemption Dates and Prices [Abstract]
Price	100.00%
Targa Resources Partners LP [Member] | Senior Unsecured 5 1/8% Notes due February 2025 [Member]
Redemption Dates and Prices [Abstract]
Any Date Prior To	Feb. 1, 2020
Price	105.125%
Targa Resources Partners LP [Member] | Senior Unsecured 5 1/8% Notes due February 2025 [Member] | 2020 [Member]
Redemption Dates and Prices [Abstract]
Price	103.844%
Targa Resources Partners LP [Member] | Senior Unsecured 5 1/8% Notes due February 2025 [Member] | 2021 [Member]
Redemption Dates and Prices [Abstract]
Price	102.563%
Targa Resources Partners LP [Member] | Senior Unsecured 5 1/8% Notes due February 2025 [Member] | 2022 [Member]
Redemption Dates and Prices [Abstract]
Price	101.281%
Targa Resources Partners LP [Member] | Senior Unsecured 5 1/8% Notes due February 2025 [Member] | 2023 and Thereafter [Member]
Redemption Dates and Prices [Abstract]
Price	100.00%
Targa Resources Partners LP [Member] | Senior Unsecured 5 3/8% Notes due February 2027 [Member]
Redemption Dates and Prices [Abstract]
Any Date Prior To	Feb. 1, 2022
Price	105.375%
Targa Resources Partners LP [Member] | Senior Unsecured 5 3/8% Notes due February 2027 [Member] | 2022 [Member]
Redemption Dates and Prices [Abstract]
Price	102.688%
Targa Resources Partners LP [Member] | Senior Unsecured 5 3/8% Notes due February 2027 [Member] | 2023 [Member]
Redemption Dates and Prices [Abstract]
Price	101.792%
Targa Resources Partners LP [Member] | Senior Unsecured 5 3/8% Notes due February 2027 [Member] | 2024 [Member]
Redemption Dates and Prices [Abstract]
Price	100.896%
Targa Resources Partners LP [Member] | Senior Unsecured 5 3/8% Notes due February 2027 [Member] | 2025 and Thereafter [Member]
Redemption Dates and Prices [Abstract]
Price	100.00%
Targa Resources Partners LP [Member] | Senior Unsecured 6 3/8% Notes due August 2022 [Member] | 2017 [Member]
Redemption Dates and Prices [Abstract]
Price	103.188%
Targa Resources Partners LP [Member] | Senior Unsecured 6 3/8% Notes due August 2022 [Member] | 2018 [Member]
Redemption Dates and Prices [Abstract]
Price	102.125%
Targa Resources Partners LP [Member] | Senior Unsecured 6 3/8% Notes due August 2022 [Member] | 2019 [Member]
Redemption Dates and Prices [Abstract]
Price	101.063%
Targa Resources Partners LP [Member] | Senior Unsecured 6 3/8% Notes due August 2022 [Member] | 2020 and Thereafter [Member]
Redemption Dates and Prices [Abstract]
Price	100.00%
Targa Resources Partners LP [Member] | Senior Unsecured 5 1/4% Notes due May 2023 [Member] | 2017 [Member]
Redemption Dates and Prices [Abstract]
Price	102.625%
Targa Resources Partners LP [Member] | Senior Unsecured 5 1/4% Notes due May 2023 [Member] | 2018 [Member]
Redemption Dates and Prices [Abstract]
Price	101.75%
Targa Resources Partners LP [Member] | Senior Unsecured 5 1/4% Notes due May 2023 [Member] | 2019 [Member]
Redemption Dates and Prices [Abstract]
Price	100.875%
Targa Resources Partners LP [Member] | Senior Unsecured 5 1/4% Notes due May 2023 [Member] | 2020 and Thereafter [Member]
Redemption Dates and Prices [Abstract]
Price	100.00%
Targa Resources Partners LP [Member] | Senior Unsecured 4 1/4% Notes due November 2023 [Member] | 2018 [Member]
Redemption Dates and Prices [Abstract]
Price	102.125%
Targa Resources Partners LP [Member] | Senior Unsecured 4 1/4% Notes due November 2023 [Member] | 2019 [Member]
Redemption Dates and Prices [Abstract]
Price	101.417%
Targa Resources Partners LP [Member] | Senior Unsecured 4 1/4% Notes due November 2023 [Member] | 2020 [Member]
Redemption Dates and Prices [Abstract]
Price	100.708%
Targa Resources Partners LP [Member] | Senior Unsecured 4 1/4% Notes due November 2023 [Member] | 2021 and Thereafter [Member]
Redemption Dates and Prices [Abstract]
Price	100.00%

Debt Obligations, Senior Notes

Debt Obligations, Senior Notes Issuances - Additional Information (Details) - Partnership Issuers [Member] - USD ($) $ in Millions	1 Months Ended
	Oct. 31, 2016	Sep. 30, 2015	Jan. 31, 2015	Oct. 31, 2014
Senior Unsecured Notes [Member] | Senior Unsecured 4 1/8% notes due November 2019 [Member]
Debt Instrument [Line Items]
Aggregate principal amount issued				$ 800
Net proceeds from private placement of notes				$ 790.8
Senior Unsecured Notes [Member] | Senior Unsecured 5% Notes due January 2018 [Member]
Debt Instrument [Line Items]
Aggregate principal amount issued			$ 1,100
Net proceeds from private placement of notes			$ 1,089.8
Senior Unsecured Notes [Member] | Senior Unsecured 6 3/4% Notes due March 2024 [Member]
Debt Instrument [Line Items]
Aggregate principal amount issued		$ 600
Net proceeds from private placement of notes		$ 595
Senior Notes [Member] | 5 1/8% Senior Notes due February 2025 [Member]
Debt Instrument [Line Items]
Aggregate principal amount issued	$ 500
Net proceeds from private placement of notes	$ 496.2
Price	5.125%
Maturity date	Feb. 28, 2025
Senior Notes [Member] | 5 3/8% Senior Notes due February 2027 [Member]
Debt Instrument [Line Items]
Aggregate principal amount issued	$ 500
Net proceeds from private placement of notes	$ 496.2
Price	5.375%
Maturity date	Feb. 28, 2027

Debt Obligations, Shelf Registr

Debt Obligations, Shelf Registration Statements - Additional Information (Details) - Targa Resources Partners LP [Member] - USD ($) $ in Millions	Apr. 30, 2015	Jul. 31, 2013
July 2013 Shelf [Member]
Debt Instrument [Line Items]
Aggregate amount of debt or equity securities allowed under shelf agreement		$ 800
April 2015 Shelf [Member]
Debt Instrument [Line Items]
Aggregate amount of debt or equity securities allowed under shelf agreement	$ 1,000

Debt Obligations, Debt Repurcha

Debt Obligations, Debt Repurchases & Extinguishments - Additional Information (Details) - USD ($) $ in Millions	1 Months Ended			12 Months Ended
	Jun. 30, 2015	Mar. 31, 2015	Nov. 30, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Write off debt issuance cost				$ 3.5	$ 0.1
Gain (loss) on repurchase of debt				$ (48.2)	(10.1)	$ (12.4)
Targa Resources Partners LP [Member] | Senior Secured Term Loan [Member]
Debt Instrument [Line Items]
Write off debt issuance cost	$ 2.4	$ 5.8
Repayment of term loan	82	188
Write off of debt discount	$ 1.4	$ 3.3
Targa Resources Partners LP [Member] | Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Write off debt issuance cost					3.6
Gain (loss) on repurchase of debt					$ 0.1
Targa Resources Partners LP [Member] | Senior Unsecured Notes [Member] | Senior Unsecured 7 7/8% Notes due October 2018 [Member]
Debt Instrument [Line Items]
Redemption price, percentage of face value			103.938%
Loss on extinguishment of debt						(12.4)
Premium paid on redemption of debt						9.9
Write off debt issuance cost						$ 2.5

Debt Obligations - Summary of98

Debt Obligations - Summary of Debt Repurchased on Open Market Portion of Outstanding Senior Notes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Nov. 15, 2016
Debt Instrument [Line Items]
Debt Repurchase, Book Value	$ 559.2	$ 17.9	$ 146.2
Open market purchases of senior notes	(534.3)	(14.3)
Gain (loss) on repurchase of debt	24.9	3.6
Debt Repurchase, Write-off of Debt Issuance Costs	(3.5)	(0.1)
Net Gain (Loss) on Debt Repurchase	21.4	3.5
5¼% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Repurchase, Book Value	24.1	16.3
Open market purchases of senior notes	(20.1)	(13)
Gain (loss) on repurchase of debt	4	3.3
Debt Repurchase, Write-off of Debt Issuance Costs	(0.2)	(0.1)
Net Gain (Loss) on Debt Repurchase	3.8	3.2
4¼% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Repurchase, Book Value	39.5	1.5
Open market purchases of senior notes	(31.8)	(1.2)
Gain (loss) on repurchase of debt	7.7	0.3
Debt Repurchase, Write-off of Debt Issuance Costs	(0.3)
Net Gain (Loss) on Debt Repurchase	7.4	0.3
6⅝% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Repurchase, Book Value	32.6	0.1
Open market purchases of senior notes	(29.5)	$ (0.1)
Gain (loss) on repurchase of debt	3.1
Net Gain (Loss) on Debt Repurchase	3.1
6⅞% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Repurchase, Book Value	4.8
Open market purchases of senior notes	(4.3)
Gain (loss) on repurchase of debt	0.5
Debt Repurchase, Write-off of Debt Issuance Costs	(0.1)
Net Gain (Loss) on Debt Repurchase	0.4
6⅜% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Repurchase, Book Value	21.3
Open market purchases of senior notes	(18.7)
Gain (loss) on repurchase of debt	2.6
Debt Repurchase, Write-off of Debt Issuance Costs	(0.2)
Net Gain (Loss) on Debt Repurchase	2.4
6¾% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Repurchase, Book Value	19.9
Open market purchases of senior notes	(17.5)
Gain (loss) on repurchase of debt	2.4
Debt Repurchase, Write-off of Debt Issuance Costs	(0.2)
Net Gain (Loss) on Debt Repurchase	2.2
5% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Repurchase, Book Value	366.4
Open market purchases of senior notes	(368.2)
Gain (loss) on repurchase of debt	(1.8)
Debt Repurchase, Write-off of Debt Issuance Costs	(2.1)
Net Gain (Loss) on Debt Repurchase	(3.9)
4⅛% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Repurchase, Book Value	50.6
Open market purchases of senior notes	(44.2)
Gain (loss) on repurchase of debt	6.4
Debt Repurchase, Write-off of Debt Issuance Costs	(0.4)
Net Gain (Loss) on Debt Repurchase	$ 6

Debt Obligations - Senior Notes

Debt Obligations - Senior Notes Tender Offers - Additional Information (Details) - USD ($)	1 Months Ended	3 Months Ended	12 Months Ended
	Oct. 31, 2016	Dec. 31, 2016	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Write off debt issuance cost			$ 3,500,000	$ 100,000
Concurrent Senior Notes Tender Offers [Member]
Debt Instrument [Line Items]
Aggregate principal amount outstanding	$ 1,000
Concurrent Senior Notes Tender Offers [Member] | Senior Unsecured 5% Notes due January 2018 [Member]
Debt Instrument [Line Items]
Interest rate on fixed rate debt	5.00%
Maturity date	Jan. 15, 2018
Concurrent Senior Notes Tender Offers [Member] | Senior Unsecured 6 5/8% Notes due October 2020 [Member]
Debt Instrument [Line Items]
Interest rate on fixed rate debt	6.625%
Maturity date	Oct. 1, 2020
Concurrent Senior Notes Tender Offers [Member] | Senior Unsecured 6 7/8% Notes due February 2021 [Member]
Debt Instrument [Line Items]
Interest rate on fixed rate debt	6.875%
Maturity date	Feb. 1, 2021
Senior Notes with Offers Tendered [Member]
Debt Instrument [Line Items]
Aggregate principal amount outstanding		$ 383,800,000	383,800,000	1,522,100,000
Loss on extinguishment of debt		59,200,000
Premium Paid		41,800,000	41,800,000
Write off debt issuance cost		5,800,000
Write off of debt premiums		3,500,000
Write off of debt discount		15,100,000
Senior Notes with Offers Tendered [Member] | Senior Unsecured 5% Notes due January 2018 [Member]
Debt Instrument [Line Items]
Aggregate principal amount outstanding		250,500,000	250,500,000	733,600,000
Premium Paid			16,900,000
Senior Notes with Offers Tendered [Member] | Senior Unsecured 6 5/8% Notes due October 2020 [Member]
Debt Instrument [Line Items]
Aggregate principal amount outstanding		28,200,000	28,200,000	309,900,000
Premium Paid			10,500,000
Senior Notes with Offers Tendered [Member] | Senior Unsecured 6 7/8% Notes due February 2021 [Member]
Debt Instrument [Line Items]
Aggregate principal amount outstanding		$ 105,100,000	105,100,000	$ 478,600,000
Premium Paid			$ 14,400,000

Debt Obligations - Results of T

Debt Obligations - Results of Tender Offers (Details) - Senior Notes with Offers Tendered [Member] - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2016
Debt Instrument [Line Items]
Outstanding Note Balance Prior to Tender Offers		$ 1,522.1
Amount Tendered		1,138.3
Premium Paid	$ 41.8	41.8
Accrued Interest Paid		10.3
Total Tender Offer Payments		1,190.4
Note Balance After Tender Offers	383.8	383.8
Senior Unsecured 5% Notes due January 2018 [Member]
Debt Instrument [Line Items]
Outstanding Note Balance Prior to Tender Offers		733.6
Amount Tendered		483.1
Premium Paid		16.9
Accrued Interest Paid		5.4
Total Tender Offer Payments		505.4
Note Balance After Tender Offers	250.5	250.5
Senior Unsecured 6 5/8% Notes due October 2020 [Member]
Debt Instrument [Line Items]
Outstanding Note Balance Prior to Tender Offers		309.9
Amount Tendered		281.7
Premium Paid		10.5
Accrued Interest Paid		0.3
Total Tender Offer Payments		292.5
Note Balance After Tender Offers	28.2	28.2
Senior Unsecured 6 7/8% Notes due February 2021 [Member]
Debt Instrument [Line Items]
Outstanding Note Balance Prior to Tender Offers		478.6
Amount Tendered		373.5
Premium Paid		14.4
Accrued Interest Paid		4.6
Total Tender Offer Payments		392.5
Note Balance After Tender Offers	$ 105.1	$ 105.1

Debt Obligations - Note Redempt

Debt Obligations - Note Redemptions - Additional Information (Details) - USD ($) $ in Millions	Nov. 15, 2016	Oct. 31, 2016	Dec. 31, 2016	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Face amount of notes redeemed	$ 146.2		$ 559.2	$ 559.2	$ 17.9
Debt instrument redemption period	Nov. 15, 2016
Payment for redemption of debt	$ 151.1			1,852.2	284.3
Write off debt issuance cost				$ 3.5	$ 0.1
Senior Unsecured 6 5/8% Notes due October 2020 [Member]
Debt Instrument [Line Items]
Price		103.313%
Senior Unsecured 6 5/8% Notes due October 2020 [Member] | Targa Pipeline Partners LP [Member]
Debt Instrument [Line Items]
Price		103.313%
Senior Unsecured 6 7/8% Notes due February 2021 [Member]
Debt Instrument [Line Items]
Price		103.438%
Note Redemptions [Member]
Debt Instrument [Line Items]
Loss on extinguishment of debt			9.7
Premium Paid			4.9
Write off debt issuance cost			1.1
Write off of debt premiums			0.5
Write off of debt discount			$ 4.2

Debt Obligations, TPL Senior No

Debt Obligations, TPL Senior Notes Tender Offers - Additional Information (Details) - USD ($) $ in Millions	Nov. 15, 2016	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Repayment of debt	$ 151.1		$ 1,852.2	$ 284.3
TPL Senior Notes Tender Offers [Member]
Debt Instrument [Line Items]
Note balance after tender offers			414.5	1,550
Payments for notes tendered and settled upon closing of merger			1,135.5
Total tender offer payments			1,163.8
TPL Senior Notes Tender Offers [Member] | Targa Pipeline Partners LP [Member]
Debt Instrument [Line Items]
Repayment of debt			1,168.8
TPL Senior Notes Tender Offers [Member] | Senior Unsecured 6 5/8% Notes due October 2020 [Member]
Debt Instrument [Line Items]
Note balance after tender offers			359.9	$ 500
Payments for notes tendered and settled upon closing of merger			140.1
Total tender offer payments			$ 145.9
TPL Senior Notes Tender Offers [Member] | Senior Unsecured 6 5/8% Notes due October 2020 [Member] | Targa Pipeline Partners LP [Member]
Debt Instrument [Line Items]
Payments for notes tendered and settled upon closing of merger		$ 4.8
Total tender offer payments		$ 5

Debt Obligations, TPL Senior103

Debt Obligations, TPL Senior Notes Tender Offers (Details) - TPL Senior Notes Tender Offers [Member] $ in Millions	12 Months Ended
	Dec. 31, 2016USD ($)
Results of tender offers [Abstract]
Outstanding Note Balance Prior to Tender Offers	$ 1,550
Amount Tendered	1,135.5
Premium Paid	16.7
Accrued Interest Paid	11.6
Total Tender Offer Payments	1,163.8
Note Balance After Tender Offers	414.5
Senior Unsecured 6 5/8% Notes due October 2020 [Member]
Results of tender offers [Abstract]
Outstanding Note Balance Prior to Tender Offers	500
Amount Tendered	140.1
Premium Paid	2.1
Accrued Interest Paid	3.7
Total Tender Offer Payments	$ 145.9
Tendered percentage	28.02%
Note Balance After Tender Offers	$ 359.9
Senior Unsecured 4 3/4% Notes due November 2021 [Member]
Results of tender offers [Abstract]
Outstanding Note Balance Prior to Tender Offers	400
Amount Tendered	393.5
Premium Paid	5.9
Accrued Interest Paid	5.3
Total Tender Offer Payments	$ 404.7
Tendered percentage	98.38%
Note Balance After Tender Offers	$ 6.5
Senior Unsecured 5 7/8% Notes due August 2023 [Member]
Results of tender offers [Abstract]
Outstanding Note Balance Prior to Tender Offers	650
Amount Tendered	601.9
Premium Paid	8.7
Accrued Interest Paid	2.6
Total Tender Offer Payments	$ 613.2
Tendered percentage	92.60%
Note Balance After Tender Offers	$ 48.1

Debt Obligations, Exchange Offe

Debt Obligations, Exchange Offer and Consent Solicitation - Additional Information (Details) - Senior Unsecured 6 5/8% Notes due October 2020 [Member] - Targa Pipeline Partners LP [Member] - USD ($) $ in Millions	Apr. 27, 2015	Dec. 31, 2016	May 31, 2015
Targa Resources Partners LP [Member]
Debt Instrument [Line Items]
Tendered percentage	96.30%
Costs associated with exchange offer		$ 0.7
Partnership Issuers [Member]
Debt Instrument [Line Items]
Aggregate principal amount outstanding			$ 342.1
Unamortized premium			$ 5.6

Debt Obligations, Debt Repur105

Debt Obligations, Debt Repurchases Summary (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
(Gain) loss from financing activities	$ 48.2	$ 10.1	$ 12.4
Write-off of debt issuance costs	3.5	0.1
Loss from financing activities	48.2	10.1	12.4
Partnership 5% Senior Notes [Member]
Debt Instrument [Line Items]
Write-off of debt issuance costs	2.1
Partnership 6⅞% Senior Notes [Member]
Debt Instrument [Line Items]
Write-off of debt issuance costs	0.1
Partnership 6⅜% Senior Notes [Member]
Debt Instrument [Line Items]
Write-off of debt issuance costs	0.2
Partnership 5¼% Senior Notes [Member]
Debt Instrument [Line Items]
Write-off of debt issuance costs	0.2	0.1
Partnership 4¼% Senior Notes [Member]
Debt Instrument [Line Items]
Write-off of debt issuance costs	0.3
Partnership 6¾% Senior Notes [Member]
Debt Instrument [Line Items]
Write-off of debt issuance costs	0.2
Partnership 4⅛% Senior Notes [Member]
Debt Instrument [Line Items]
Write-off of debt issuance costs	0.4
Senior Unsecured Notes [Member] | TRC Term Loan, variable rate [Member]
Debt Instrument [Line Items]
Recognition of unamortized discount and premium		4.7
Write-off of debt issuance costs		8.2
Senior Unsecured Notes [Member] | TRP Revolver [Member]
Debt Instrument [Line Items]
Write-off of debt issuance costs	0.9
Senior Unsecured Notes [Member] | Targa Pipeline Partners LP [Member] | 6⅝% Senior Notes [Member]
Debt Instrument [Line Items]
Premium over face value paid upon redemption	0.4
Recognition of unamortized discount and premium	(0.2)
Targa Resources Partners LP [Member] | Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
(Gain) loss from financing activities		(0.1)
Write-off of debt issuance costs		3.6
Targa Resources Partners LP [Member] | Senior Unsecured Notes [Member] | Partnership 5% Senior Notes [Member]
Debt Instrument [Line Items]
Premium over face value paid upon redemption	16.9
(Gain) loss from financing activities	1.8
Write-off of debt issuance costs	4.2
Targa Resources Partners LP [Member] | Senior Unsecured Notes [Member] | Partnership 6⅞% Senior Notes [Member]
Debt Instrument [Line Items]
Premium over face value paid upon redemption	18
Recognition of unamortized discount and premium	19.5
(Gain) loss from financing activities	(0.8)
Write-off of debt issuance costs	4.9
Targa Resources Partners LP [Member] | Senior Unsecured Notes [Member] | 6⅝% Senior Notes [Member]
Debt Instrument [Line Items]
Premium over face value paid upon redemption	11.5
Recognition of unamortized discount and premium	(4.3)
(Gain) loss from financing activities	(2.8)
Loss from financing with Exchange Offer		0.7
Targa Resources Partners LP [Member] | Senior Unsecured Notes [Member] | Partnership 7⅞% Senior Notes [Member]
Debt Instrument [Line Items]
Premium over face value paid upon redemption			9.9
Write-off of debt issuance costs			$ 2.5
Targa Resources Partners LP [Member] | Senior Unsecured Notes [Member] | Partnership 6⅜% Senior Notes [Member]
Debt Instrument [Line Items]
(Gain) loss from financing activities	(2.6)
Write-off of debt issuance costs	0.2
Targa Resources Partners LP [Member] | Senior Unsecured Notes [Member] | Partnership 5¼% Senior Notes [Member]
Debt Instrument [Line Items]
(Gain) loss from financing activities	(4)	(3.3)
Write-off of debt issuance costs	0.2	0.1
Targa Resources Partners LP [Member] | Senior Unsecured Notes [Member] | Partnership 4¼% Senior Notes [Member]
Debt Instrument [Line Items]
(Gain) loss from financing activities	(7.7)	$ (0.3)
Write-off of debt issuance costs	0.3
Targa Resources Partners LP [Member] | Senior Unsecured Notes [Member] | Partnership 6¾% Senior Notes [Member]
Debt Instrument [Line Items]
(Gain) loss from financing activities	(2.4)
Write-off of debt issuance costs	0.2
Targa Resources Partners LP [Member] | Senior Unsecured Notes [Member] | Partnership 4⅛% Senior Notes [Member]
Debt Instrument [Line Items]
(Gain) loss from financing activities	(6.4)
Write-off of debt issuance costs	$ 0.4

Other Long-term Liabilities - S

Other Long-term Liabilities - Schedule of Other Long-term Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Other Liabilities Noncurrent [Abstract]
Asset retirement obligations	$ 64.6	$ 70.4	$ 57.3
Mandatorily redeemable preferred interests	68.5	82.9
Deferred revenue	69.8	27.7	$ 4.1
Other liabilities	12.2	5.9
Total long-term liabilities	$ 215.1	$ 186.9

Other Long-term Liabilities - C

Other Long-term Liabilities - Changes in Aggregate Asset Retirement Obligations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Changes in aggregate asset retirement obligations [Roll Forward]
Beginning of period	$ 70.4	$ 57.3
Fair value of ARO acquired with APL merger		4
Change in cash flow estimate	(9.1)	3.8	$ 2.1
Accretion expense	4.6	5.3	4.5
Retirement of ARO	(1.3)
End of period	$ 64.6	$ 70.4	$ 57.3

Other Long-term Liabilities, Ma

Other Long-term Liabilities, Mandatorily Redeemable Preferred Interests (Details) $ in Millions	12 Months Ended
	Dec. 31, 2016USD ($)JointVenture	Dec. 31, 2015USD ($)
Changes in long-term liabilities attributable to mandatorily redeemable preferred interests [Abstract]
Beginning of period	$ 82.9
Change in estimated redemption value included in interest expense	(15.2)	$ (30.6)
End of period	$ 68.5	82.9
Mandatorily Redeemable Noncontrolling Interests [Member]
Changes in long-term liabilities attributable to mandatorily redeemable preferred interests [Abstract]
Number of joint ventures | JointVenture	2
Beginning of period	$ 82.9
Acquired mandatorily redeemable preferred interests		109.3
Income attributable to mandatorily redeemable preferred interests	0.8	2.8
Change in estimated redemption value included in interest expense	(15.2)	(30.6)
Other activity, net		1.4
End of period	$ 68.5	82.9
Mandatorily Redeemable Noncontrolling Interests [Member] | West OK [Member]
Changes in long-term liabilities attributable to mandatorily redeemable preferred interests [Abstract]
Ownership interest	100.00%
Mandatorily Redeemable Noncontrolling Interests [Member] | West TX [Member]
Changes in long-term liabilities attributable to mandatorily redeemable preferred interests [Abstract]
Ownership interest	72.80%
Mandatorily Redeemable Noncontrolling Interests [Member] | Joint Ventures [Member]
Changes in long-term liabilities attributable to mandatorily redeemable preferred interests [Abstract]
Number of joint ventures | JointVenture	2
Notes receivable, face amount	$ 1,900
Notes receivable, due date	Jul. 31, 2024
Interest earned on notes receivable, net	$ 10.5	$ 8.9

Other Long-term Liabilities, De

Other Long-term Liabilities, Deferred Revenue (Details) $ in Millions	Dec. 27, 2015USD ($)bbl	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Deferred Revenue and Other [Abstract]
Deferred revenue recognized related to gas gathering and processing agreement		$ 3.1	$ 2.7	$ 0.1
Crude and condensate splitter, barrel per day | bbl	35,000
Storage capacity of Channelview Terminal | bbl	730,000
Splitter estimated cost	$ 140
Annual deferred revenue payments receivable through 2022		$ 43

Other Long-term Liabilities, Co

Other Long-term Liabilities, Components of Deferred Revenue (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Component Of Deferred Revenue [Line Items]
Total deferred revenue	$ 69.8	$ 27.7	$ 4.1
Splitter Agreement [Member]
Component Of Deferred Revenue [Line Items]
Total deferred revenue	43
Gas Contract Amendment [Member]
Component Of Deferred Revenue [Line Items]
Total deferred revenue	19.7	21.1
Other Deferred Revenue [Member]
Component Of Deferred Revenue [Line Items]
Total deferred revenue	$ 7.1	$ 6.6

Other Long-term Liabilities 111

Other Long-term Liabilities - Changes in Deferred Revenue (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Changes in deferred revenue [Roll Forward]
Beginning of period	$ 27.7	$ 4.1
Additions	45.2	26.3
Revenue recognized	(3.1)	(2.7)	$ (0.1)
End of period	$ 69.8	$ 27.7	$ 4.1

Preferred Stock - Additional In

Preferred Stock - Additional Information (Details)	3 Months Ended	12 Months Ended
	Mar. 31, 2016USD ($)Trancheshares	Dec. 31, 2016USD ($)$ / sharesshares
Class Of Stock [Line Items]
Number of tranches sold to investors | Tranche	2
Gross proceeds	$ 994,100,000	$ 994,100,000
Term of preferred stock warrants		7 years
Liquidated damage percentage multiplier for the first 60 days		0.25%
Additional liquidated damage percentage multiplier for each 60 subsequent days		0.25%
Liquidated damage percentage for 61-120 days		0.50%
Liquidation damage percentage for 121-180 days		0.75%
Liquidation damage percentage thereafter		1.00%
Liquidation damage percentage multiplier thereafter		1.00%
Net Proceeds- Initial Relative Fair Value Allocation		$ 969,300,000
Transaction fees		24,800,000
Allocation to BCF		$ (614,400,000)
Accounting Conversion Price Of Convertible Preferred Stock | $ / shares		$ 17.02
Conversion price of preferred stock into common stock | $ / shares		$ 20.77
Accrued cumulative preferred dividend		$ 22,900,000
Preferred stock dividend paid		$ 49,700,000
Accrued preferred dividends payable date		Feb. 14, 2017
Deemed dividends on Series A preferred stock		$ 18,200,000
Maximum [Member]
Class Of Stock [Line Items]
Conversion of warrant into preferred stock | shares		20,083,731
Series A Warrants [Member]
Class Of Stock [Line Items]
Preferred stock, shares issued to investors | shares		13,550,004
Exercise price of warrants | $ / shares		$ 18.88
Net Proceeds- Initial Relative Fair Value Allocation		$ 135,700,000
Series B Warrants [Member]
Class Of Stock [Line Items]
Preferred stock, shares issued to investors | shares		6,533,727
Exercise price of warrants | $ / shares		$ 25.11
Net Proceeds- Initial Relative Fair Value Allocation		$ 46,500,000
Series A Preferred Stock [Member]
Class Of Stock [Line Items]
Preferred stock, shares issued to investors | shares		1,200,000
Preferred stock, liquidation per share | $ / shares		$ 1,000
Preferred stock, percentage of dividend		9.50%
Preferred stock dividend payment terms		fixed dividend payable quarterly 45 days after the end of each fiscal quarter
Preferred stock, discount on shares		$ 178,100,000
Preferred stock redemption premium percentage in sixth year		10.00%
Preferred stock redemption premium percentage in sixth year and thereafter		5.00%
Preferred stock redemption premium percentage in twelfth year		10.00%
Volume Weighted Average Share Price | $ / shares		$ 18.88
Preferred stock redemption premium percentage in twelfth year and thereafter		120.00%
Preferred stock premium change in next twelve month		25.00%
Preferred stock premium change in two year		20.00%
Preferred stock premium change in three year		15.00%
Preferred stock premium change in year four through six		10.00%
Preferred stock premium change in year six and thereafter		5.00%
Maximum number of common share would be issued upon conversion of preferred share | shares		46,466,057
Net Proceeds- Initial Relative Fair Value Allocation		$ 787,100,000
Allocation to BCF		$ 614,400,000
Series A Preferred Stock [Member] | 10% Redemption Premium
Class Of Stock [Line Items]
Preferred stock conversion redemption premium percentage in sixth year		10.00%
Benefit from conversion right by redemption premium		$ 96,500,000
Series A Preferred Stock [Member] | 5% Redemption Premium
Class Of Stock [Line Items]
Benefit from conversion right by redemption premium		$ 48,300,000
Preferred stock conversion redemption premium percentage in year seven through twelve year		5.00%
Series A Preferred Stock [Member] | Maximum [Member]
Class Of Stock [Line Items]
Incurrence of indebtedness other than stipulated fixed charge coverage		$ 2,750,000,000
Private Placement [Member] | Series A Warrants [Member]
Class Of Stock [Line Items]
Conversion of warrant into preferred stock | shares	13,550,004
Private Placement [Member] | Series B Warrants [Member]
Class Of Stock [Line Items]
Conversion of warrant into preferred stock | shares	6,533,727
Private Placement [Member] | Series A Preferred Stock [Member]
Class Of Stock [Line Items]
Preferred stock, shares issued to investors | shares	965,100

Accounting for Series A Preferr

Accounting for Series A Preferred Stock (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2016
Class Of Stock [Line Items]
Proceeds from issuance of preferred stock and warrants	$ 994.1	$ 994.1
Transaction fees		(24.8)
Net Proceeds- Initial Relative Fair Value Allocation		969.3
Allocation to BCF		614.4
Per balance sheet upon issuance		614.4
Series A Warrants [Member]
Class Of Stock [Line Items]
Net Proceeds- Initial Relative Fair Value Allocation		135.7
Per balance sheet upon issuance		135.7
Series B Warrants [Member]
Class Of Stock [Line Items]
Net Proceeds- Initial Relative Fair Value Allocation		46.5
Per balance sheet upon issuance		46.5
Series A Preferred Stock [Member]
Class Of Stock [Line Items]
Net Proceeds- Initial Relative Fair Value Allocation		787.1
Allocation to BCF		(614.4)
Per balance sheet upon issuance		$ 172.7

Common Stock and Related Mat114

Common Stock and Related Matters - Additional Information (Details) - USD ($)	Jan. 26, 2017	Feb. 17, 2016	Feb. 27, 2015	Dec. 31, 2016	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	May 31, 2016
Securities Financing Transaction [Line Items]
Closing market price of common share (in dollars per share)			$ 99.58
Proceeds from issuance of common stock						$ 577,300,000	$ 336,800,000
Amount contributed to maintain general partner ownership percentage							$ 6,500,000	$ 8,400,000
Percentage of general partner's interest maintained						2.00%	2.00%	2.00%
Number of shares issued in exchange of common units for common shares to the third party (in shares)		104,525,775
Subsequent Event [Member]
Securities Financing Transaction [Line Items]
Issuance of common stock (in shares)	9,200,000
Shares issued price	$ 57.65
Proceeds from issuance of common stock	$ 524,100,000
Equity Distribution Agreement May 2016 [Member]
Securities Financing Transaction [Line Items]
Issuance of common stock (in shares)						11,074,266
Proceeds from issuance of common stock						$ 494,000,000
Amount of common stock authorized under equity distribution agreement									$ 500,000,000
Equity distribution agreement remaining amount terminated				$ 2,200,000
Equity Distribution Agreement December 2016 [Member]
Securities Financing Transaction [Line Items]
Issuance of common stock (in shares)						1,487,100
Proceeds from issuance of common stock						$ 78,700,000
Amount of common stock authorized under equity distribution agreement				750,000,000		750,000,000
Remaining amount of common stock available under equity distribution agreement				$ 670,500,000		$ 670,500,000
Common Stock [Member]
Securities Financing Transaction [Line Items]
Total issuance of common shares (in shares)						104,526,000
Issuance of common stock (in shares)					3,250,000	12,562,000	3,738,000
Shares issued price					$ 91
Proceeds from issuance of common stock					$ 292,800,000
Number of additional shares sold in public offering (in shares)					487,500
Proceeds from issuance of common stock					$ 43,900,000
Amount contributed to maintain general partner ownership percentage					$ 52,400,000
Percentage of general partner's interest maintained					2.00%
Atlas Energy [Member]
Securities Financing Transaction [Line Items]
Total issuance of common shares (in shares)			10,126,532
Common units acquired			$ 1,000,000,000
Closing market price of common share (in dollars per share)			$ 99.58
Initial purchase price			$ 1,600,000,000
Atlas Energy [Member] | Restricted Stock Units (RSUs) [Member]
Securities Financing Transaction [Line Items]
Total issuance of common shares (in shares)			81,740
Outrigger Permian Acquisition [Member] | Subsequent Event [Member]
Securities Financing Transaction [Line Items]
Initial purchase price	$ 565,000,000

Common Stock and Related Mat115

Common Stock and Related Matters - Activity Related to Detachable Warrants Issued as Part of Series A Preferred Offering and Net settled in Either Common Shares or Cash at Option (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2016USD ($)$ / sharesshares
Class Of Warrant Or Right [Line Items]
Cash Settled | $	$ 0
Shares of Common Stock Issued [Member]
Class Of Warrant Or Right [Line Items]
Exercise of warrants - share settled (in shares)	11,336,856
Series A Warrants [Member]
Class Of Warrant Or Right [Line Items]
Warrants outstanding beginning balance	0
Issued and exercisable to common stock	13,550,004
Exercised	(13,482,612)
Warrants outstanding ending balance	67,392
Exercise prices | $ / shares	$ 18.88
Weighted average stock price at exercise dates | $ / shares	$ 48.47
Series B Warrants [Member]
Class Of Warrant Or Right [Line Items]
Warrants outstanding beginning balance	0
Issued and exercisable to common stock	6,533,727
Exercised	(6,501,231)
Warrants outstanding ending balance	32,496
Exercise prices | $ / shares	$ 25.11
Weighted average stock price at exercise dates | $ / shares	$ 48.51

Common Stock and Related Mat116

Common Stock and Related Matters - Dividends Declared And Or Paid (Details) - USD ($) $ / shares in Units, $ in Millions		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Dividends Payable [Line Items]
Accrued preferred dividends payable date		Feb. 14, 2017
Dividend Declared, Q4 2016 [Member]
Dividends Payable [Line Items]
Accrued preferred dividends payable date		Feb. 15, 2017
Total Common Dividends Declared		$ 178.3
Amount of Common Dividends Paid		176.5
Accrued Dividends	[1]	$ 1.8
Dividend Declared per Share of Common Stock		$ 0.91000
Dividend Declared, Q3 2016 [Member]
Dividends Payable [Line Items]
Accrued preferred dividends payable date		Nov. 15, 2016
Total Common Dividends Declared		$ 166.4
Amount of Common Dividends Paid		164.6
Accrued Dividends	[1]	$ 1.8
Dividend Declared per Share of Common Stock		$ 0.91000
Dividend Declared, Q2 2016 [Member]
Dividends Payable [Line Items]
Accrued preferred dividends payable date		Aug. 15, 2016
Total Common Dividends Declared		$ 153.1
Amount of Common Dividends Paid		151.6
Accrued Dividends	[1]	$ 1.5
Dividend Declared per Share of Common Stock		$ 0.91000
Dividend Declared, Q1 2016 [Member]
Dividends Payable [Line Items]
Accrued preferred dividends payable date		May 16, 2016
Total Common Dividends Declared		$ 147.8
Amount of Common Dividends Paid		146.1
Accrued Dividends	[1]	$ 1.7
Dividend Declared per Share of Common Stock		$ 0.91000
Dividend Declared, Q4 2015 [Member]
Dividends Payable [Line Items]
Accrued preferred dividends payable date			Feb. 9, 2016
Total Common Dividends Declared			$ 51.7
Amount of Common Dividends Paid			51
Accrued Dividends	[1]		$ 0.7
Dividend Declared per Share of Common Stock			$ 0.91000
Dividend Declared, Q3 2015 [Member]
Dividends Payable [Line Items]
Accrued preferred dividends payable date			Nov. 16, 2015
Total Common Dividends Declared			$ 51.3
Amount of Common Dividends Paid			51
Accrued Dividends	[1]		$ 0.3
Dividend Declared per Share of Common Stock			$ 0.91000
Dividend Declared, Q2 2015 [Member]
Dividends Payable [Line Items]
Accrued preferred dividends payable date			Aug. 17, 2015
Total Common Dividends Declared			$ 49.2
Amount of Common Dividends Paid			49
Accrued Dividends	[1]		$ 0.2
Dividend Declared per Share of Common Stock			$ 0.87500
Dividend Declared, Q1 2015 [Member]
Dividends Payable [Line Items]
Accrued preferred dividends payable date			May 18, 2015
Total Common Dividends Declared			$ 46.6
Amount of Common Dividends Paid			46.4
Accrued Dividends	[1]		$ 0.2
Dividend Declared per Share of Common Stock			$ 0.83000
Dividend Declared, Q4 2014 [Member]
Dividends Payable [Line Items]
Accrued preferred dividends payable date				Feb. 17, 2015
Total Common Dividends Declared				$ 32.8
Amount of Common Dividends Paid				32.6
Accrued Dividends	[1]			$ 0.2
Dividend Declared per Share of Common Stock				$ 0.77500
Dividend Declared, Q3 2014 [Member]
Dividends Payable [Line Items]
Accrued preferred dividends payable date				Nov. 17, 2014
Total Common Dividends Declared				$ 31
Amount of Common Dividends Paid				30.8
Accrued Dividends	[1]			$ 0.2
Dividend Declared per Share of Common Stock				$ 0.73250
Dividend Declared, Q2 2014 [Member]
Dividends Payable [Line Items]
Accrued preferred dividends payable date				Aug. 15, 2014
Total Common Dividends Declared				$ 29.2
Amount of Common Dividends Paid				29
Accrued Dividends	[1]			$ 0.2
Dividend Declared per Share of Common Stock				$ 0.69000
Dividend Declared, Q1 2014 [Member]
Dividends Payable [Line Items]
Accrued preferred dividends payable date				May 16, 2014
Total Common Dividends Declared				$ 27.4
Amount of Common Dividends Paid				27.2
Accrued Dividends	[1]			$ 0.2
Dividend Declared per Share of Common Stock				$ 0.64750
[1]	Represents accrued dividends on restricted stock and restricted stock units that are payable upon vesting.

Partnership Units and Relate117

Partnership Units and Related Matters - Additional Information (Details)

Feb. 17, 2016shares

Feb. 27, 2015shares

Feb. 28, 2017USD ($)$ / shares

Jan. 31, 2017USD ($)$ / shares

Dec. 31, 2016USD ($)$ / sharesshares

Oct. 31, 2015USD ($)$ / sharesshares

Mar. 31, 2015USD ($)

Feb. 28, 2015USD ($)shares

Mar. 31, 2016USD ($)

Dec. 31, 2015USD ($)$ / sharesshares

Sep. 30, 2015USD ($)

Jun. 30, 2015USD ($)

Mar. 31, 2015USD ($)

Dec. 31, 2016USD ($)Distribution$ / sharesshares

Dec. 31, 2015USD ($)$ / sharesshares

Dec. 31, 2014USD ($)shares

Dec. 02, 2016shares

May 31, 2015USD ($)

May 31, 2014USD ($)

Limited Partners Capital Account [Line Items]

Issuance of common units (in units) | shares

58,621,036

7,377,380

58,621,036

7,377,380

Amount contributed to maintain general partner ownership percentage | $

$ 6,500,000

$ 8,400,000

Ownership interest in Partnership by general partner

2.00%

2.00%

2.00%

Net proceeds from sale of common units | $

$ 316,100,000

Conversion ratio in stock-for-unit transaction

0.62

Number of shares issued in exchange of common units for common shares to the third party (in shares) | shares

104,525,775

General Partner unit in exchange for the elimination of the IDRs and Special GP Interest | shares

1,196,346

1,196,346

Capital contributions to partnership | $

$ 190,000,000

$ 1,381,000,000

Partners Capital Account Contributions for which common and general partner units were issued | $

$ 1,191,000,000

Limited partner capital contribution allocation percentage

98.00%

General partner capital contribution allocation percentage

2.00%

Preferred unit, issued | shares

5,000,000

Preferred stock, par value (in dollar per share) | $ / shares

$ 0.001

$ 0.001

$ 0.001

$ 0.001

Distributions from partnership | $

$ 150,300,000

$ 500,400,000

$ 339,800,000

Subsequent Event [Member]

Limited Partners Capital Account [Line Items]

Distributions declaration month

2017-01

Distribution declared | $ / shares

$ 0.1875

Distributions from partnership | $

$ 900,000

Distributions payable date

Feb. 15, 2017

Scenario Forecast [Member]

Limited Partners Capital Account [Line Items]

Distributions declaration month

2017-02

Distribution declared | $ / shares

$ 0.1875

Distributions from partnership | $

$ 900,000

Distributions payable date

Mar. 15, 2017

Series A Cumulative Redeemable Perpetual Preferred Units [Member]

Limited Partners Capital Account [Line Items]

Preferred unit, dividend interest rate

9.00%

Preferred units, outstanding | shares

5,000,000

5,000,000

Distribution to preferred unitholders | $

$ 11,300,000

1,500,000

General Partner Units [Member] | IDRs [Member]

Limited Partners Capital Account [Line Items]

General Partner unit in exchange for the elimination of the IDRs and Special GP Interest | shares

424,590

General Partner Units [Member] | Special GP Interest [Member]

Limited Partners Capital Account [Line Items]

General Partner unit in exchange for the elimination of the IDRs and Special GP Interest | shares

234,739

Equity Distribution Agreement May 2015 [Member]

Limited Partners Capital Account [Line Items]

Amount of common units authorized under equity distribution agreement | $

$ 1,000,000,000

Capacity remaining available under shelf agreement | $

$ 835,600,000

835,600,000

Equity Distribution Agreement May 2014 [Member]

Limited Partners Capital Account [Line Items]

Capacity remaining available under shelf agreement | $

4,200,000

$ 4,200,000

Equity Distribution Agreement [Member]

Limited Partners Capital Account [Line Items]

Issuance of common units (in units) | shares

0

0

April 2013 Shelf [Member] | Series A Preferred Units [Member]

Limited Partners Capital Account [Line Items]

Preferred unit, issued | shares

4,400,000

Preferred stock, par value (in dollar per share) | $ / shares

$ 25

Number of additional preferred units sold in public offering (in shares) | shares

600,000

Net proceeds received after costs | $

$ 121,100,000

Preferred unit, dividend interest rate

9.00%

Atlas Pipeline Partners [Member]

Limited Partners Capital Account [Line Items]

Amount contributed to maintain general partner ownership percentage | $

$ 52,400,000

$ 52,400,000

Ownership interest in Partnership by general partner

2.00%

2.00%

Reallocation of IDR payments to common unitholders | $

$ 9,375,000

$ 9,375,000

$ 9,375,000

$ 9,375,000

Number of quarterly distributions that will be reduced | Distribution

16

Atlas Pipeline Partners [Member] | Distribution Rights First Quarter for 2016 [Member]

Limited Partners Capital Account [Line Items]

Reallocation of IDR payments to common unitholders | $

$ 6,250,000

Atlas Energy [Member]

Limited Partners Capital Account [Line Items]

Acquisition of TRP noncontrolling common interests, net of acquisition costs and deferred income taxes (in shares) | shares

10,126,532

Targa Resources Partners LP [Member]

Limited Partners Capital Account [Line Items]

Conversion ratio in stock-for-unit transaction

0.62

Number of shares exchanged in exchange of common units for common shares to the third party (in shares) | | shares

168,590,009

Common Units [Member] | IDRs [Member]

Limited Partners Capital Account [Line Items]

Issuance of common units (in units) | shares

20,380,286

Common Units [Member] | Special GP Interest [Member]

Limited Partners Capital Account [Line Items]

Issuance of common units (in units) | shares

11,267,485

Common Units [Member] | Atlas Energy [Member]

Limited Partners Capital Account [Line Items]

Acquisition of TRP noncontrolling common interests, net of acquisition costs and deferred income taxes (in shares) | shares

3,363,935

Common Units [Member] | Targa Resources Partners LP [Member] | Atlas Pipeline Partners [Member]

Limited Partners Capital Account [Line Items]

Acquisition of TRP noncontrolling common interests, net of acquisition costs and deferred income taxes (in shares) | shares

58,614,157

Series A Preferred Units due November 1, 2020 [Member] | LIBOR [Member]

Limited Partners Capital Account [Line Items]

Percentage of variable interest rate for distribution on preferred units upon maturity

7.71%

Equity Distribution Agreement May 2014 [Member]

Limited Partners Capital Account [Line Items]

Amount of common units authorized under equity distribution agreement | $

$ 400,000,000

Issuance of common units (in units) | shares

7,175,096

Proceeds from issuance of common stock | $

$ 408,400,000

Commissions to sales agents, maximum

1.00%

Partnership Units and Relate118

Partnership Units and Related Matters - Summary of Distributions Declared or Paid by the Partnership (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014
Distributions Declared [Member]
Distributions declared or paid by the Partnership [Abstract]
Distributions payable date	Feb. 10, 2017
Total Distributions	$ 198.1
Distributions to Targa Resources Corp.	$ 195.3
Distributions Paid [Member]
Distributions declared or paid by the Partnership [Abstract]
Distributions payable date		Nov. 11, 2016	Aug. 11, 2016	May 12, 2016	Feb. 9, 2016	Nov. 13, 2015	Aug. 14, 2015	May 15, 2015	Feb. 13, 2015	Nov. 14, 2014	Aug. 14, 2014	May 15, 2014
Total Distributions		$ 194.7	$ 181.7	$ 157.6	$ 200.4	$ 200.4	$ 200.4	$ 193.9	$ 137.4	$ 130.9	$ 125.7	$ 121.3
Distributions to Targa Resources Corp.		$ 191.9	$ 178.9	$ 154.8	$ 61.4	$ 61.4	$ 61.4	$ 59	$ 51.6	$ 48.9	$ 46.3	$ 44

Earnings per Common Share (Deta

Earnings per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Earnings Per Share [Abstract]
Net income	$ (140.6)	$ (3.2)	$ (14.6)	$ (0.7)	$ (231.9)	$ 20.8	$ 23.8	$ 35.9	$ (159.1)	$ (151.4)	$ 423
Net income (loss) attributable to noncontrolling interests									28.2	(209.7)	320.7
Less: Dividends on preferred stock									90.8
Net income (loss) attributable to common shareholders	$ (179.6)	$ (39.4)	$ (52.6)	$ (6.5)	$ 27	$ 12.7	$ 15.2	$ 3.4	$ (278.1)	$ 58.3	$ 102.3
Weighted average shares outstanding - basic (in shares)									154.4	53.5	42
Net income available per common share - basic (in dollars per share)	$ (1.18)	$ (0.23)	$ (0.33)	$ (0.06)	$ 0.48	$ 0.23	$ 0.27	$ 0.07	$ (1.80)	$ 1.09	$ 2.44
Weighted average shares outstanding - basic (in shares)									154.4	53.5	42
Dilutive effect of unvested stock awards (in shares)									0	0.1	0.1
Weighted average shares outstanding - diluted (in shares)									154.4	53.6	42.1
Net income available per common share - diluted (in dollars per share)	$ (1.18)	$ (0.23)	$ (0.33)	$ (0.06)	$ 0.48	$ 0.23	$ 0.27	$ 0.07	$ (1.80)	$ 1.09	$ 2.43

Earnings per Common Share - Sum

Earnings per Common Share - Summary of Potential Common Stock Equivalents Excluded from Determination of Diluted Earnings Per Share (Details) - shares shares in Millions		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Unvested Restricted Stock Awards [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive shares excluded from the determination of diluted earnings per share (in shares)		0.6	0.1	0
Warrants to Purchase Common Stock [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive shares excluded from the determination of diluted earnings per share (in shares)		5.8		0
Series A Preferred Stock [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive shares excluded from the determination of diluted earnings per share (in shares)	[1]	36.9		0
[1]	The Series A Preferred has no mandatory redemption date, but is redeemable at our election in year six for a 10% premium to the liquidation preference and for a 5% premium to the liquidation preference thereafter. If the Series A Preferred is not redeemed by the end of year twelve, the investors have the right to convert the Series A Preferred into TRC common stock. See Note 12 – Preferred Stock

Earnings per Common Share - 121

Earnings per Common Share - Summary of Potential Common Stock Equivalents Excluded from Determination of Diluted Earnings Per Share (Parenthetical) (Details) - Series A Preferred Stock [Member]	12 Months Ended
	Dec. 31, 2016
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Preferred stock redemption premium percentage in sixth year	10.00%
Preferred stock redemption premium percentage after sixth year	5.00%

Derivative Instruments and H122

Derivative Instruments and Hedging Activities - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Feb. 27, 2015
Derivative Line [Items]
Fair value of derivative assets			$ 102,100,000
Pro forma net presentation, liability	$ 53,300,000
Reclassification of commodity hedge related deferred losses	60,700,000
Reclassification of accumulated other comprehensive income into earnings before income taxes	39,700,000
Targa Resources Partners LP [Member] | Atlas Pipeline Partners [Member]
Derivative Line [Items]
Fair value of derivative assets			$ 102,100,000
Fair value of derivative contracts received as component of derivative contract settlement	26,600,000	$ 67,900,000
Ineffectiveness losses	$ 0	$ (900,000)

Derivative Instruments and H123

Derivative Instruments and Hedging Activities - Notional Volumes Of The Partnership's Commodity Derivative Contracts (Details) - Targa Resources Partners LP [Member]	12 Months Ended
	Dec. 31, 2016MMBTUbbl
Year 2017 [Member] | Swaps [Member] | Condensate [Member]
Derivative Line [Items]
Notional volumes of commodity hedges (in Bbl per day)	2,270
Year 2017 [Member] | Swaps [Member] | Natural Gas [Member]
Derivative Line [Items]
Notional volumes of commodity hedges (in MMBtu per day) | MMBTU	133,448
Year 2017 [Member] | Swaps [Member] | NGL [Member]
Derivative Line [Items]
Notional volumes of commodity hedges (in Bbl per day)	9,635
Year 2017 [Member] | Basis Swaps [Member] | Natural Gas [Member]
Derivative Line [Items]
Notional volumes of commodity hedges (in MMBtu per day) | MMBTU	72,219
Year 2017 [Member] | Options [Member] | Condensate [Member]
Derivative Line [Items]
Notional volumes of commodity hedges (in Bbl per day)	1,380
Year 2017 [Member] | Options [Member] | Natural Gas [Member]
Derivative Line [Items]
Notional volumes of commodity hedges (in MMBtu per day) | MMBTU	22,900
Year 2017 [Member] | Options [Member] | NGL [Member]
Derivative Line [Items]
Notional volumes of commodity hedges (in Bbl per day)	1,468
Year 2017 [Member] | Future [Member] | NGL [Member]
Derivative Line [Items]
Notional volumes of commodity hedges (in Bbl per day)	6,118
Year 2018 [Member] | Swaps [Member] | Condensate [Member]
Derivative Line [Items]
Notional volumes of commodity hedges (in Bbl per day)	1,770
Year 2018 [Member] | Swaps [Member] | Natural Gas [Member]
Derivative Line [Items]
Notional volumes of commodity hedges (in MMBtu per day) | MMBTU	84,800
Year 2018 [Member] | Swaps [Member] | NGL [Member]
Derivative Line [Items]
Notional volumes of commodity hedges (in Bbl per day)	4,688
Year 2018 [Member] | Basis Swaps [Member] | Natural Gas [Member]
Derivative Line [Items]
Notional volumes of commodity hedges (in MMBtu per day) | MMBTU	0
Year 2018 [Member] | Options [Member] | Condensate [Member]
Derivative Line [Items]
Notional volumes of commodity hedges (in Bbl per day)	691
Year 2018 [Member] | Options [Member] | Natural Gas [Member]
Derivative Line [Items]
Notional volumes of commodity hedges (in MMBtu per day) | MMBTU	9,486
Year 2018 [Member] | Options [Member] | NGL [Member]
Derivative Line [Items]
Notional volumes of commodity hedges (in Bbl per day)	1,676
Year 2018 [Member] | Future [Member] | NGL [Member]
Derivative Line [Items]
Notional volumes of commodity hedges (in Bbl per day)	959
Year 2019 [Member] | Swaps [Member] | Condensate [Member]
Derivative Line [Items]
Notional volumes of commodity hedges (in Bbl per day)	643
Year 2019 [Member] | Swaps [Member] | Natural Gas [Member]
Derivative Line [Items]
Notional volumes of commodity hedges (in MMBtu per day) | MMBTU	45,683
Year 2019 [Member] | Swaps [Member] | NGL [Member]
Derivative Line [Items]
Notional volumes of commodity hedges (in Bbl per day)	3,369
Year 2019 [Member] | Basis Swaps [Member] | Natural Gas [Member]
Derivative Line [Items]
Notional volumes of commodity hedges (in MMBtu per day) | MMBTU	0
Year 2019 [Member] | Options [Member] | Condensate [Member]
Derivative Line [Items]
Notional volumes of commodity hedges (in Bbl per day)	590
Year 2019 [Member] | Options [Member] | Natural Gas [Member]
Derivative Line [Items]
Notional volumes of commodity hedges (in MMBtu per day) | MMBTU	0
Year 2019 [Member] | Options [Member] | NGL [Member]
Derivative Line [Items]
Notional volumes of commodity hedges (in Bbl per day)	0
Year 2019 [Member] | Future [Member] | NGL [Member]
Derivative Line [Items]
Notional volumes of commodity hedges (in Bbl per day)	0

Derivative Instruments and H124

Derivative Instruments and Hedging Activities, Fair Values Derivatives, Balance Sheet Location, by Derivative Contract Type (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Derivatives, Fair Value [Line Items]
Derivative assets	$ 16.8	$ 92.2
Derivative assets	5.1	34.9
Derivative assets	21.9	127.1
Derivative liabilities	75.2	7.6
Derivative liabilities	49.1	5.2
Derivative liabilities	26.1	2.4
Current Liabilities from Risk Management Activities [Member]
Derivatives, Fair Value [Line Items]
Derivative liabilities	49.1	5.2
Long-Term Liabilities from Risk Management Activities [Member]
Derivatives, Fair Value [Line Items]
Derivative liabilities	26.1	2.4
Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	21.8	127
Derivative liabilities	74.7	4.5
Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Current Liabilities from Risk Management Activities [Member]
Derivatives, Fair Value [Line Items]
Derivative liabilities	48.6	2.1
Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Long-Term Liabilities from Risk Management Activities [Member]
Derivatives, Fair Value [Line Items]
Derivative liabilities	26.1	2.4
Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Current Assets from Risk Management Activities [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	16.7	92.1
Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Long-Term Assets from Risk Management Activities [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	5.1	34.9
Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative liabilities	0.5	3.1
Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Current Liabilities from Risk Management Activities [Member]
Derivatives, Fair Value [Line Items]
Derivative liabilities	0.5	3.1
Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Current Assets from Risk Management Activities [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	0.1	0.1
Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Long-Term Assets from Risk Management Activities [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	$ 0.1	$ 0.1

Derivative Instruments and H125

Derivative Instruments and Hedging Activities - Pro Forma Impact Of Offsetting Assets (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Derivative Asset [Abstract]
Gross asset	$ 21.9
Gross liability	(64.8)
Gross collateral	7
Derivative assets	21.9	$ 127.1
Pro forma net presentation, asset	(53.3)
Pro forma net presentation, asset, total	5.7	119.5
Counterparties with Offsetting Positions or Collateral [Member]
Derivative Asset [Abstract]
Gross asset		121.1
Gross liability		(7.6)
Pro forma net presentation, asset	5.7
Pro forma net presentation, asset, total		113.5
Counterparties without Offsetting Position [Member]
Derivative Asset [Abstract]
Gross asset		6
Pro forma net presentation, asset, total		6
Current Assets from Risk Management Activities [Member]
Derivative Asset [Abstract]
Gross asset	16.8	92.2
Gross collateral	7
Pro forma net presentation, asset, current	5.7	87
Current Assets from Risk Management Activities [Member] | Counterparties with Offsetting Positions or Collateral [Member]
Derivative Asset [Abstract]
Gross asset	16.8	86.9
Gross liability	(46.1)	(5.2)
Gross collateral	7
Pro forma net presentation, asset	5.7	81.7
Current Assets from Risk Management Activities [Member] | Counterparties without Offsetting Position [Member]
Derivative Asset [Abstract]
Gross asset		5.3
Pro forma net presentation, asset, current		5.3
Long-Term Assets from Risk Management Activities [Member]
Derivative Asset [Abstract]
Gross asset	5.1	34.9
Pro forma net presentation, asset, noncurrent		32.5
Long-Term Assets from Risk Management Activities [Member] | Counterparties with Offsetting Positions or Collateral [Member]
Derivative Asset [Abstract]
Gross asset	5.1	34.2
Gross liability	$ (18.7)	(2.4)
Pro forma net presentation, asset, noncurrent		31.8
Long-Term Assets from Risk Management Activities [Member] | Counterparties without Offsetting Position [Member]
Derivative Asset [Abstract]
Gross asset		0.7
Pro forma net presentation, asset, noncurrent		$ 0.7

Derivative Instruments and H126

Derivative Instruments and Hedging Activities - Pro Forma Impact Of Offsetting Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Derivative Liability [Abstract]
Gross liability	$ (75.2)	$ (7.6)
Pro forma net presentation, liability, total	(52)
Counterparties without Offsetting Position [Member]
Derivative Liability [Abstract]
Gross liability	(10.4)
Pro forma net presentation, liability, total	(10.4)
Counterparties with Offsetting Positions or Collateral [Member]
Derivative Liability [Abstract]
Pro forma net presentation, liability, total	(41.6)
Current Liabilities from Risk Management Activities [Member]
Derivative Liability [Abstract]
Gross liability	(49.1)	(5.2)
Pro forma net presentation, liability, current	(31)
Current Liabilities from Risk Management Activities [Member] | Counterparties without Offsetting Position [Member]
Derivative Liability [Abstract]
Gross liability	(3)
Pro forma net presentation, liability, current	(3)
Current Liabilities from Risk Management Activities [Member] | Counterparties with Offsetting Positions or Collateral [Member]
Derivative Liability [Abstract]
Pro forma net presentation, liability, current	(28)
Long-Term Liabilities from Risk Management Activities [Member]
Derivative Liability [Abstract]
Gross liability	(26.1)	$ (2.4)
Pro forma net presentation, liability, noncurrent	(21)
Long-Term Liabilities from Risk Management Activities [Member] | Counterparties without Offsetting Position [Member]
Derivative Liability [Abstract]
Gross liability	(7.4)
Pro forma net presentation, liability, noncurrent	(7.4)
Long-Term Liabilities from Risk Management Activities [Member] | Counterparties with Offsetting Positions or Collateral [Member]
Derivative Liability [Abstract]
Pro forma net presentation, liability, noncurrent	$ (13.6)

Derivative Instruments and H127

Derivative Instruments and Hedging Activities - Amounts Included in OCI, Income and AOCI (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) reclassified from OCI into income (effective portion)	$ 45	$ 86.3	$ (6.6)
Interest Expense, Net [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) reclassified from OCI into income (effective portion)			(2.4)
Revenues [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) reclassified from OCI into income (effective portion)	45	86.3	(4.2)
Commodity Contracts [Member] | Revenues [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income on derivatives	0.9	(5.7)	(5.5)
Cash Flow Hedging [Member] | Commodity Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in OCI on derivatives (effective portion)	$ (103.6)	$ 112.7	$ 59.7

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details)	12 Months Ended
	Dec. 31, 2016USD ($)Swap
Fair Value Measurements [Abstract]
Derivative financial instruments, fair value, net	$ 53,300,000
Derivative fair value of net liability if commodity price increases by 10 percent	107,400,000
Derivative fair value of net asset if commodity price decreases by 10 percent	$ 14,900,000
Number of natural gas basis swaps categorized as Level 3 | Swap	17
Commodity Derivative Contracts Asset/(Liability) [Member]
Fair Value Measurements [Abstract]
Transfers out of Level 3	$ 0

Fair Value Measurements - Break

Fair Value Measurements - Breakdown by Fair Value Hierarchy Category for Financial Instruments (Details) - USD ($) $ in Millions		Dec. 31, 2016	Dec. 31, 2015
Financial Instruments Recorded on Our Consolidated Balance Sheets at Fair Value [Abstract]
Assets from commodity derivative contracts		$ 5.7	$ 119.5
Liabilities from commodity derivative contracts		52
Carrying Value [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Fair Value [Abstract]
Assets from commodity derivative contracts	[1]	21	127.1
Liabilities from commodity derivative contracts	[1]	74.2	7.6
TPL contingent consideration	[2]	2.6	3
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Cash and cash equivalents		73.5	140.2
Carrying Value [Member] | TRC Revolver [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Long-term debt		275	440
Carrying Value [Member] | Senior Secured Term Loan [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Long-term debt		157.8	157.5
Carrying Value [Member] | TRP Revolver [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Long-term debt		150	280
Carrying Value [Member] | Partnership's Accounts Receivable Securitization Facility [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Long-term debt		275	219.3
Carrying Value [Member] | Senior Unsecured Notes [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Long-term debt		4,057.3	4,884
Fair Value [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Fair Value [Abstract]
Assets from commodity derivative contracts	[1]	21	127.1
Liabilities from commodity derivative contracts	[1]	74.2	7.6
TPL contingent consideration	[2]	2.6	3
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Cash and cash equivalents		73.5	140.2
Fair Value [Member] | Level 1 [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Fair Value [Abstract]
Assets from commodity derivative contracts	[1]	0	0
Liabilities from commodity derivative contracts	[1]	0	0
TPL contingent consideration	[2]	0	0
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Cash and cash equivalents		0	0
Fair Value [Member] | Level 2 [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Fair Value [Abstract]
Assets from commodity derivative contracts	[1]	19.6	123.1
Liabilities from commodity derivative contracts	[1]	69.3	7.3
TPL contingent consideration	[2]	0	0
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Cash and cash equivalents		0	0
Fair Value [Member] | Level 3 [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Fair Value [Abstract]
Assets from commodity derivative contracts	[1]	1.4	4
Liabilities from commodity derivative contracts	[1]	4.9	0.3
TPL contingent consideration	[2]	2.6	3
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Cash and cash equivalents		0	0
Fair Value [Member] | TRC Revolver [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Long-term debt		275	440
Fair Value [Member] | TRC Revolver [Member] | Level 1 [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Long-term debt		0	0
Fair Value [Member] | TRC Revolver [Member] | Level 2 [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Long-term debt		275	440
Fair Value [Member] | TRC Revolver [Member] | Level 3 [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Long-term debt		0	0
Fair Value [Member] | Senior Secured Term Loan [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Long-term debt		158.4	158.3
Fair Value [Member] | Senior Secured Term Loan [Member] | Level 1 [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Long-term debt		0	0
Fair Value [Member] | Senior Secured Term Loan [Member] | Level 2 [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Long-term debt		158.4	158.3
Fair Value [Member] | Senior Secured Term Loan [Member] | Level 3 [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Long-term debt		0	0
Fair Value [Member] | TRP Revolver [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Long-term debt		150	280
Fair Value [Member] | TRP Revolver [Member] | Level 1 [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Long-term debt		0	0
Fair Value [Member] | TRP Revolver [Member] | Level 2 [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Long-term debt		150	280
Fair Value [Member] | TRP Revolver [Member] | Level 3 [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Long-term debt		0	0
Fair Value [Member] | Partnership's Accounts Receivable Securitization Facility [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Long-term debt		275	219.3
Fair Value [Member] | Partnership's Accounts Receivable Securitization Facility [Member] | Level 1 [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Long-term debt		0	0
Fair Value [Member] | Partnership's Accounts Receivable Securitization Facility [Member] | Level 2 [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Long-term debt		275	219.3
Fair Value [Member] | Partnership's Accounts Receivable Securitization Facility [Member] | Level 3 [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Long-term debt		0	0
Fair Value [Member] | Senior Unsecured Notes [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Long-term debt		4,101.6	4,192
Fair Value [Member] | Senior Unsecured Notes [Member] | Level 1 [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Long-term debt		0	0
Fair Value [Member] | Senior Unsecured Notes [Member] | Level 2 [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Long-term debt		4,101.6	4,192
Fair Value [Member] | Senior Unsecured Notes [Member] | Level 3 [Member]
Financial Instruments Recorded on Our Consolidated Balance Sheets at Carrying Value [Abstract]
Long-term debt		$ 0	$ 0
[1]	The fair value of derivative contracts in this table is presented on a different basis than the Consolidated Balance Sheets presentation as disclosed in Note 16 – Derivative Instruments and Hedging Activities. The above fair values reflect the total value of each derivative contract taken as a whole, whereas the Consolidated Balance Sheets presentation is based on the individual maturity dates of estimated future settlements. As such, an individual contract could have both an asset and liability position when segregated into its current and long-term portions for Consolidated Balance Sheets classification purposes.
[2]	See Note 4 – Business Acquisitions.

Fair Value Measurements - Chang

Fair Value Measurements - Changes in Fair Value of Financial Instruments Classified as Level 3 (Details) $ in Millions	12 Months Ended
	Dec. 31, 2016USD ($)
Contingent Liability [Member]
Changes in fair value of financial instruments classified as Level 3 in fair value hierarchy [Roll Forward]
Balance, beginning of period	$ (3)
Change in fair value of TPL contingent consideration	0.4
New Level 3 instruments	0
Settlements included in Revenue	0
Unrealized gain/(loss) included in OCI	0
Balance, end of period	(2.6)
Commodity Derivative Contracts Asset/(Liability) [Member]
Changes in fair value of financial instruments classified as Level 3 in fair value hierarchy [Roll Forward]
Balance, beginning of period	3.7
Change in fair value of TPL contingent consideration	0
New Level 3 instruments	0.9
Settlements included in Revenue	0.2
Unrealized gain/(loss) included in OCI	(8.4)
Balance, end of period	$ (3.6)

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Gulf Coast Fractionators LP [Member]
Related Party Transaction [Line Items]
Revenues from transactions with related party	$ 0.4	$ 0.5	$ 0.8
Costs and expenses from transactions with related party	3.2	5.8	7.6
T2 Eagle Ford [Member]
Related Party Transaction [Line Items]
Revenues from transactions with related party	4.6	4.4
Costs and expenses from transactions with related party	3.2	3
Cost of sales attributable to related party	2.6	4
Amount charged to related parties for service.	0.2	0.4
T2 EF Cogen [Member]
Related Party Transaction [Line Items]
Revenues from transactions with related party	0.6	1.4
Amount charged to related parties for service.		0.1
T2 LaSalle [Member]
Related Party Transaction [Line Items]
Costs and expenses from transactions with related party	0.8	1.3
SAJET Resources LLC [Member]
Related Party Transaction [Line Items]
Amount charged to related parties for service.	0.5	1.1	1.4
Tesla Resources LLC [Member]
Related Party Transaction [Line Items]
Amount charged to related parties for service.	$ 0.1	$ 0.2	$ 0.2

Commitments (Leases) (Details)

Commitments (Leases) (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Future lease obligations in aggregate and for each of the next five fiscal years [Abstract]
In Aggregate		$ 52.1
2,017		18.6
2,018		13.6
2,019		8.5
2,020		6.5
2,021		4.9
Total expenses on lease obligations including short-term leases of compressors and equipment		53.3	$ 50.2	$ 31.8
Operating Leases [Member]
Future lease obligations in aggregate and for each of the next five fiscal years [Abstract]
In Aggregate	[1]	37.9
2,017	[1]	15.4
2,018	[1]	10.8
2,019	[1]	5.7
2,020	[1]	3.8
2,021	[1]	2.2
Total expenses on lease obligations including short-term leases of compressors and equipment	[2]	48.9	46	27.7
Land Site Lease and Right-of-Way [Member]
Future lease obligations in aggregate and for each of the next five fiscal years [Abstract]
In Aggregate	[3]	14.2
2,017	[3]	3.2
2,018	[3]	2.8
2,019	[3]	2.8
2,020	[3]	2.7
2,021	[3]	2.7
Total expenses on lease obligations including short-term leases of compressors and equipment		$ 4.4	$ 4.2	$ 4.1
[1]	Includes minimum payments on lease obligations for office space, railcars and tractors.
[2]	Includes short-term leases for items such as compressors and equipment.
[3]	Land site lease and right-of-way provides for surface and underground access for gathering, processing and distribution assets that are located on property not owned by us. These agreements expire at various dates, with varying terms, some of which are perpetual.

Contingencies - Additional Info

Contingencies - Additional Information (Details)	Dec. 16, 2015Plaintiff	Jun. 18, 2015USD ($)	Dec. 31, 2016	Oct. 31, 2016
Loss Contingencies [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired				37.00%
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage			63.00%
State Court Lawsuit [Member]
Loss Contingencies [Line Items]
Number of plaintiffs | Plaintiff	2
Environment Proceeding [Member]
Loss Contingencies [Line Items]
Litigation settlement amount | $		$ 29,223

Significant Risks and Uncert134

Significant Risks and Uncertainties (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Concentration Risk [Line Items]
Reduction of maximum loss due to counterparty credit risk by master netting provision	$ 21.9
Allowance for doubtful accounts	$ 0.9	$ 0.1
Targa Resources Partners LP [Member] | Consolidated Product Purchases [Member] | ONEOK Hydrocarbon LP [Member]
Summary of activity affecting allowance for bad debts [Roll Forward]
Concentration risk percentage	11.00%	12.00%
Targa Resources Partners LP [Member] | Consolidated Product Purchases [Member] | DCP NGL Services LLC [Member]
Summary of activity affecting allowance for bad debts [Roll Forward]
Concentration risk percentage	11.00%
Minimum [Member]
Concentration Risk [Line Items]
Potential loss attributable to individual counterparties	$ 1.3
Maximum [Member]
Concentration Risk [Line Items]
Potential loss attributable to individual counterparties	$ 3.8

Other Operating (Income) Exp135

Other Operating (Income) Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Other Income And Expenses [Abstract]
(Gain) loss on sale or disposition of assets	$ 6.1	$ (8)	$ (4.8)
Casualty (gain) loss		(0.2)	0.1
Miscellaneous business tax	0.5	0.5	0.4
Other		0.6	1.3
Total other operating (income) expense	$ 6.6	$ (7.1)	$ (3)

Income Taxes - Components of Fe

Income Taxes - Components of Federal and State Income Tax Provisions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income tax (expense) benefit:
Current expense (benefit)	$ (62.8)	$ 15	$ 72.4
Deferred expense (benefit)	(37.8)	24.6	(4.4)
Total income tax expense (benefit)	$ (100.6)	$ 39.6	$ 68

Income Taxes - Components of De

Income Taxes - Components of Deferred Income Tax Assets and Liabilities (Details) - USD ($) $ in Millions		Dec. 31, 2016	Dec. 31, 2015
Deferred tax assets:
Net operating loss		$ 101.2	$ 19.8
Tax credits		3.9	0
Other		3.5	3.5
Deferred tax assets before valuation allowance		108.6	23.3
Valuation allowance		(3.5)	(3.5)
Deferred tax assets		105.1	19.8
Deferred tax liabilities:
Investments	[1]	(1,002.6)	(114.3)
Property, plant, and equipment		(25.3)	(61.5)
Debt-related		(6.1)	(10)
Other		(12.3)	(11.8)
Deferred tax liabilities		(1,046.3)	(197.6)
Net deferred tax asset (liability)		(941.2)	(177.8)
Net deferred tax liability
Federal		(833.2)	(144.5)
Foreign		0.6	0.6
State		(108.6)	(33.9)
Net deferred tax asset (liability)		(941.2)	(177.8)
Balance sheet classification of deferred tax assets (liabilities)
Long-term liability		$ (941.2)	$ (177.8)
[1]	Our deferred tax liability attributable to investments reflects the differences between the book and tax carrying values of our investment in the Partnership.

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Operating Loss Carryforwards [Line Items]
Tax basis statutory rate	35.00%	35.00%	35.00%
Net operating loss carryforwards	$ 232,500,000
Operating loss carryforwards expiry date	Dec. 31, 2036
Deferred tax assets relate to drop down transactions	$ 3,500,000
Valuation allowance	3,500,000	$ 3,500,000
Deferred tax assets, alternative minimum tax credit	3,900,000
Uncertain tax reserves	0
TPL Arkoma, Inc [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 51,300,000
TPL Arkoma, Inc [Member] | Minimum [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards expiry date	Dec. 31, 2029
TPL Arkoma, Inc [Member] | Maximum [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards expiry date	Dec. 31, 2036
Targa Resources Partners LP [Member]
Operating Loss Carryforwards [Line Items]
Transferred stock with a fair market value	$ 1,800,000,000
Liabilities assumed	5,400,000,000
Initial purchase price	7,300,000,000
Investment deferred tax liability	865,000,000
Deferred tax liabilities computed over book basis	4,100,000,000
Deferred tax liabilities excess over tax basis	$ 1,800,000,000
Tax basis statutory rate	37.34%

Income Taxes - Income Tax Recon

Income Taxes - Income Tax Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income tax reconciliation:
Income (loss) before income taxes	$ (259.7)	$ (111.8)	$ 491
Less: Net income attributable to noncontrolling interest	(28.2)	209.7	(320.7)
Less: TPL Arkoma, Inc. income to TRC	0.8	0.5	0
Less: Income taxes included in noncontrolling interest	0	(0.6)	(4.2)
Income attributable to TRC (excluding TPL Arkoma, Inc.) before income taxes	(287.1)	97.8	166.1
Income from TPL Arkoma, Inc.	(0.8)	(7.6)	0
Income attributable to TRC and TPL Arkoma, Inc. before income taxes	$ (287.9)	$ 90.2	$ 166.1
Federal statutory income tax rate	35.00%	35.00%	35.00%
Provision for federal income taxes	$ (100.8)	$ 31.6	$ 58.1
State income taxes, net of federal tax benefit	(6.1)	3.5	6.7
Amortization of deferred charge on 2010 transactions	4.7	4.7	4.7
Other, net	1.6	(0.2)	(1.5)
Total income tax expense (benefit)	$ (100.6)	$ 39.6	$ 68

Supplemental Cash Flow Infor140

Supplemental Cash Flow Information (Details) - USD ($) $ in Millions		Feb. 27, 2015	[2]	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash:
Interest paid, net of capitalized interest	[1]			$ 282	$ 214.1	$ 133.8
Income taxes paid, net of refunds				(10.6)	12.6	73.4
Non-cash investing activities:
Deadstock commodity inventory transferred to property, plant and equipment				17.4	1.2	14.8
Impact of capital expenditure accruals on property, plant and equipment				27.6	43.8	19
Transfers from materials and supplies inventory to property, plant and equipment				2.4	3.7	4.6
Change in ARO liability and property, plant and equipment due to revised cash flow estimate				(9.1)	3.8	2.1
Deferred revenue related to property, plant and equipment received under contract amendment					22.6
Non-cash financing activities:
Reduction of Owner's Equity related to accrued dividends on unvested equity awards under share compensation arrangements				8.7	1.6	$ 0.6
Debt additions and retirements related to exchange of TRP 6⅝% Notes for 6⅝% TPL Notes					342.1
Change of accrued distributions of preferred units					0.9
Allocation of Series A Preferred Stock net book value of BCF to additional paid-in capital				614.4
Accrued dividends of Series A Preferred Stock				22.9
Accrued deemed dividends of Series A Preferred Stock				18.2
Transfer within additional paid-in capital for exercise of Warrants				181.5
Non-cash balance sheet movements related to the TRC/TRP Merger (see Note 2 - Basis of Presentation):
Prepaid transaction costs reclassified in the additional paid-in capital				4.5
Issuance of common stock				0.1
Additional paid-in capital				3,207.5
Accumulated other comprehensive income				55.8
Noncontrolling interests				(4,119.7)
Deferred tax liability				856.3
Non-cash balance sheet movements related to the purchase of noncontrolling interests in subsidiary (see Note 4 - Business Acquisitions) :
Additional paid-in capital				65
Noncontrolling interests				$ (65)
Non-cash balance sheet movements related to the Atlas Merger (see Note 4 - Business Acquisitions):
Non-cash merger consideration - common units and replacement equity awards					2,436.1
Non-cash merger consideration - common shares and replacement equity awards					1,013.7
Net non-cash balance sheet movements excluded from consolidated statements of cash flows					3,449.8
Net cash merger consideration included in investing activities		$ 745.7			1,574.4
Total fair value of consideration transferred					$ 5,024.2
[1]	Interest capitalized on major projects was $8.3 million, $13.2 million and $16.1 million for 2016, 2015 and 2014.
[2]	Net of cash acquired of $40.8 million.

Supplemental Cash Flow Infor141

Supplemental Cash Flow Information (Parenthetical) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Interest capitalized on major projects	$ 8.3	$ 13.2	$ 16.1
Targa Resources Partners LP [Member] | Senior Unsecured 6 5/8% Notes due October 2020 [Member]
Debt Instrument [Line Items]
Interest rate on fixed rate debt		6.625%
Targa Pipeline Partners LP [Member] | Senior Unsecured 6 5/8% Notes due October 2020 [Member]
Debt Instrument [Line Items]
Interest rate on fixed rate debt		6.625%

Compensation Plans - Additional

Compensation Plans - Additional Information (Details) $ / shares in Units, $ in Millions	Jan. 14, 2017$ / sharesshares	Feb. 17, 2016USD ($)shares	Jan. 31, 2017shares	Mar. 31, 2016USD ($)	Dec. 31, 2016USD ($)$ / sharesshares	Dec. 31, 2015USD ($)$ / sharesshares	Dec. 31, 2014USD ($)$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Conversion ratio in stock-for-unit transaction		0.62
Compensation costs | $					$ 41.2	$ 22.8	$ 25.4
Weighted average recognition period for unrecognized compensation cost					2 years 3 months 18 days
Unrecognized compensation expenses | $					$ 44.8
Employer matching contribution percent					100.00%
Percentage of employees' gross pay for which employer contributes matching contribution					5.00%
Percentage of additional contribution per employee made by employer					3.00%
Percentage of contributions made in cash					100.00%
Contributions to defined contribution plan | $					$ 14.4	$ 13.8	$ 10.5
Accounting Standard Update 2016-09
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Tax deficiency of dividends on share-based compensation recognized as income tax expense | $					$ 0.5
Phantom Unit Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding shares before conversion		349,541
Converted outstanding shares		216,561
Phantom Unit Awards [Member] | Vesting Term One [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period of original term					4 years
Vesting percentage original term					25.00%
Phantom Unit Awards [Member] | Vesting Term Two [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period of original term					3 years
Vesting percentage original term					33.00%
Equity-Settled Performance Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding shares before conversion		675,745
Converted outstanding shares		418,906
Equity-Settled Performance Units [Member] | General and Administrative Expense [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation costs | $		$ 3.9
Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted (in dollars per shares) | $ / shares					$ 74.01
Vesting period of original term					3 years
Granted (in shares)					331,282
Outstanding shares before conversion					700,402
Vested (in dollars per share) | $ / shares					$ 62.23
Vested (in shares)					245,862
Restricted Stock Units (RSUs) [Member] | Non Executives Cash Bonus [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted (in shares)					310,809
Cash-Settled Performance Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation costs | $				$ 4.8
Cash-Settled Restricted Stock Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding shares before conversion					189,295	451,990
Converted outstanding shares		279,964
Weighted average recognition period for unrecognized compensation cost					1 year 3 months 18 days
Vested (in shares)					85,492
Targa Resources Partners LP [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Conversion ratio in stock-for-unit transaction		0.62
Targa Resources Partners LP [Member] | Performance Units [Member] | Award Granted in December 2013 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance period					3 years
Targa Resources Partners LP [Member] | Performance Units [Member] | Award Granted in December 2013 [Member] | Vesting Term One [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance period					2 years
Targa Resources Partners LP [Member] | Performance Units [Member] | Award Granted in December 2013 [Member] | Vesting Term Two [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance period					3 years
Targa Resources Partners LP [Member] | Performance Units [Member] | Award Granted in December 2013 [Member] | Vesting Term Three [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance period					4 years
Targa Resources Partners LP [Member] | Phantom Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted (in dollars per shares) | $ / shares						$ 36.87
Granted (in shares)						25,162
Targa Resources Partners LP [Member] | Phantom Units [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period of original term					1 year
Targa Resources Partners LP [Member] | Phantom Units [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period of original term					5 years
Targa Resources Partners LP [Member] | Phantom Unit Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted (in dollars per shares) | $ / shares						$ 43.82
Granted (in shares)						629,231
Repayment period of cash distribution					60 days
Targa Resources Partners LP [Member] | Phantom Unit Awards [Member] | Vesting Term One [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period of original term					4 years
Vesting percentage original term					25.00%
Targa Resources Partners LP [Member] | Phantom Unit Awards [Member] | Vesting Term Two [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period of original term					3 years
Vesting percentage original term					33.00%
Targa Resources Partners LP [Member] | Cash-Settled Performance Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Liability award		451,990
TRC Equity Compensation Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Termination date					Feb. 7, 2017
Partnership Long-term Incentive Plan [Member] | Targa Resources Partners LP [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total number of units authorized (in shares)					1,680,000
Partnership Long-term Incentive Plan [Member] | Targa Resources Partners LP [Member] | Performance Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted (in dollars per shares) | $ / shares						$ 34.48	$ 57.19
Director Grants And Incentive Plan [Member] | Director Grants [Member] | Non-Management Directors [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted (in dollars per shares) | $ / shares					$ 10.11	$ 44.67	$ 50.29
Vested in Period, Fair Value | $					$ 0.3	$ 0.5	$ 0.4
TRC Long-term Incentive Plan [Member] | Cash-Settled Restricted Stock Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Converted outstanding shares		279,964
Cash settled for awards | $					4.8	7.8	14.7
2010 TRC Stock Incentive Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vested in Period, Fair Value | $					$ 19.8	$ 31.8	$ 20.1
2010 TRC Stock Incentive Plan [Member] | Subsequent Event [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock repurchased (in shares)	6,990
Stock repurchase price (in dollars per share) | $ / shares	$ 57.95
2010 TRC Stock Incentive Plan [Member] | Outside Directors [Member] | Subsequent Event [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted (in shares)			13,818
2010 TRC Stock Incentive Plan [Member] | Performance Units [Member] | Subsequent Event [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period of original term			3 years
2010 TRC Stock Incentive Plan [Member] | Performance Units [Member] | Subsequent Event [Member] | 2017 Compensation Cycle [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted (in shares)			113,901
Vesting date			Dec. 31, 2019
2010 TRC Stock Incentive Plan [Member] | Performance Units [Member] | Minimum [Member] | Subsequent Event [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Guideline performance percentage based on total shareholder return			0.00%
2010 TRC Stock Incentive Plan [Member] | Performance Units [Member] | Maximum [Member] | Subsequent Event [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Guideline performance percentage based on total shareholder return			250.00%
2010 TRC Stock Incentive Plan [Member] | Performance Units [Member] | First Year [Member] | Subsequent Event [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Awards vesting percentage			25.00%
2010 TRC Stock Incentive Plan [Member] | Performance Units [Member] | Second Year [Member] | Subsequent Event [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Awards vesting percentage			25.00%
2010 TRC Stock Incentive Plan [Member] | Performance Units [Member] | Third Year [Member] | Subsequent Event [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Awards vesting percentage			25.00%
2010 TRC Stock Incentive Plan [Member] | Performance Units [Member] | Entirety of Performance Period [Member] | Subsequent Event [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Awards vesting percentage			25.00%
2010 TRC Stock Incentive Plan [Member] | Director Grants [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted (in shares)					24,234	6,429	5,165
Vested (in dollars per share) | $ / shares					$ 16.45	$ 86.49	$ 87.45
2010 TRC Stock Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted (in dollars per shares) | $ / shares					$ 27.87	$ 83.54	$ 112.89
Granted (in shares)					1,129,705	140,477	54,357
2010 TRC Stock Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member] | Subsequent Event [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vested (in shares)	22,017
2010 TRC Stock Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period of original term					1 year
2010 TRC Stock Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period of original term					5 years
2010 TRC Stock Incentive Plan [Member] | Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total number of units authorized (in shares)					5,000,000
Recognized tax benefits | $						$ 1.1	$ 1
2010 TRC Stock Incentive Plan [Member] | Restricted Stock [Member] | Subsequent Event [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted (in shares)			491,000
2010 TRC Stock Incentive Plan [Member] | Restricted Stock [Member] | Subsequent Event [Member] | 2017 Compensation Cycle [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period of original term			3 years
Granted (in shares)			114,301
2010 TRC Stock Incentive Plan [Member] | Restricted Stock [Member] | Two Executives [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period of original term					1 year
2010 TRC Stock Incentive Plan [Member] | Restricted Stock [Member] | January 2021 [Member] | Subsequent Event [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Awards vesting percentage			30.00%
Vesting date of awards			2021-01
2010 TRC Stock Incentive Plan [Member] | Restricted Stock [Member] | January 2020 [Member] | Subsequent Event [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Awards vesting percentage			30.00%
Vesting date of awards			2020-01
2010 TRC Stock Incentive Plan [Member] | Restricted Stock [Member] | January 2023 [Member] | Subsequent Event [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Awards vesting percentage			40.00%
Vesting date of awards			2023-01
2010 TRC Stock Incentive Plan [Member] | Restricted Stock In Lieu Of Salary [Member] | Two Executives [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted (in dollars per shares) | $ / shares					$ 41.43
Granted (in shares)					32,267
2010 TRC Stock Incentive Plan [Member] | Restricted Stock In Lieu Of Bonus [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted (in dollars per shares) | $ / shares					$ 26.34
Vesting period of original term					3 years
Granted (in shares)					153,252

Compensation Plans - Summary of

Compensation Plans - Summary of Restricted Stock Units (Details) - Restricted Stock Units (RSUs) [Member]	12 Months Ended
	Dec. 31, 2016$ / sharesshares
Nonvested, number of shares [Roll Forward]
Outstanding, beginning of period (in shares) | shares
Converted (in shares) | shares	635,467
Granted (in shares) | shares	331,282
Forfeited (in shares) | shares	(20,485)
Vested (in shares) | shares	(245,862)
Outstanding, end of period (in shares) | shares	700,402
Weighted-average grant-date fair value [Roll Forward]
Outstanding, beginning period (in dollars per share) | $ / shares
Converted (in dollars per share) | $ / shares	$ 73.68
Granted (in dollars per shares) | $ / shares	74.01
Forfeited (in dollars per share) | $ / shares	26.38
Vested (in dollars per share) | $ / shares	62.23
Outstanding, end of period (in dollars per share) | $ / shares	$ 51.52

Compensation Plans - TRC LTIP,

Compensation Plans - TRC LTIP, Cash-Settled Restricted Stock Units (Details) - Cash-Settled Restricted Stock Units [Member] - USD ($)	12 Months Ended
	Dec. 31, 2016	Feb. 17, 2016
Nonvested, number of shares [Roll Forward]
Outstanding, beginning of period (in shares)	451,990
Converted outstanding shares		279,964
Vested (in shares)	(85,492)
Forfeited (in shares)	(5,177)
Outstanding, end of period (in shares)	189,295
Calculated fair market value as of period end	$ 12,348,763
Current liability	4,143,373
Long-term liability	3,565,135
Liability as of year end	7,708,508
To be recognized in future periods	$ 4,640,255
2013 Long-term Incentive Plan [Member]
Nonvested, number of shares [Roll Forward]
Outstanding, beginning of period (in shares)	139,700
Converted outstanding shares		86,538
Vested (in shares)	(85,492)
Forfeited (in shares)	(1,046)
2014 Long-term Incentive Plan [Member]
Nonvested, number of shares [Roll Forward]
Outstanding, beginning of period (in shares)	119,900
Converted outstanding shares		74,248
Forfeited (in shares)	(1,269)
Outstanding, end of period (in shares)	72,979
Calculated fair market value as of period end	$ 4,992,974
Current liability	4,143,373
Liability as of year end	4,143,373
To be recognized in future periods	$ 849,601
Vesting date	Jun. 30, 2017
2015 Long-term Incentive Plan [Member]
Nonvested, number of shares [Roll Forward]
Outstanding, beginning of period (in shares)	192,390
Converted outstanding shares		119,178
Forfeited (in shares)	(2,862)
Outstanding, end of period (in shares)	116,316
Calculated fair market value as of period end	$ 7,355,790
Long-term liability	3,565,135
Liability as of year end	3,565,135
To be recognized in future periods	$ 3,790,655
Vesting date	Jun. 30, 2018

Compensation Plans - 2010 TRC S

Compensation Plans - 2010 TRC Stock Incentive Plan (Details) - 2010 TRC Stock Incentive Plan [Member] - Restricted Stock and Restricted Stock Units [Member]	12 Months Ended
	Dec. 31, 2016$ / sharesshares
Nonvested, number of shares [Roll Forward]
Outstanding, beginning of period (in shares) | shares	313,362
Granted (in shares) | shares	1,186,206
Forfeited (in shares) | shares	(14,989)
Vested (in shares) | shares	(116,329)
Outstanding, end of period (in shares) | shares	1,368,250
Outstanding, beginning period (in dollars per share) | $ / shares	$ 85.70
Granted (in dollars per shares) | $ / shares	28
Forfeited (in dollars per share) | $ / shares	75.17
Vested (in dollars per share) | $ / shares	58.55
Outstanding, end of period (in dollars per share) | $ / shares	$ 38.10

Segment Information - Additiona

Segment Information - Additional Information (Details) - Segment	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Number of segments	2
Previous Reportable Segments [Member] | Gathering and Processing [Member]
Segment Reporting Information [Line Items]
Number of reportable segments		2
Previous Reportable Segments [Member] | Logistics and Marketing [Member]
Segment Reporting Information [Line Items]
Number of reportable segments		2

Segment Information Revenues an

Segment Information Revenues and Operating Margin (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues
Sales of commodities									$ 5,626.8	$ 5,465.4	$ 7,595.2
Fees from midstream services									1,064.1	1,193.2	1,021.3
Revenues	$ 2,012.6	$ 1,652.3	$ 1,583.6	$ 1,442.4	$ 1,647.4	$ 1,632.1	$ 1,699.4	$ 1,679.7	6,690.9	6,658.6	8,616.5
Operating margin									1,214.3	1,281	1,136.5
Gathering and Processing [Member]
Revenues
Revenues									3,240.7	3,047.5	2,851.1
Operating margin									577.1	515.1	449.9
Logistics and Marketing [Member]
Revenues
Revenues									5,794.5	4,888.6	8,215.2
Operating margin									574.4	681.7	694.7
Other Segment [Member]
Revenues
Revenues									62.9	84.2	(8)
Operating margin									62.9	84.2	(8)
Splitter Agreement [Member]
Revenues
Revenues									(2,407.2)	(1,361.7)	(2,441.8)
Operating margin									(0.1)		(0.1)
Operating Segments [Member]
Revenues
Sales of commodities									5,626.8	5,465.4	7,595.2
Fees from midstream services									1,064.1	1,193.2	1,021.3
Revenues									6,690.9	6,658.6	8,616.5
Operating Segments [Member] | Gathering and Processing [Member]
Revenues
Sales of commodities									621.9	1,485.4	552.4
Fees from midstream services									486.6	427.1	224.7
Revenues									1,108.5	1,912.5	777.1
Operating Segments [Member] | Logistics and Marketing [Member]
Revenues
Sales of commodities									4,942	3,895.8	7,050.8
Fees from midstream services									577.5	766.1	796.6
Revenues									5,519.5	4,661.9	7,847.4
Operating Segments [Member] | Other Segment [Member]
Revenues
Sales of commodities									62.9	84.2	(8)
Revenues									62.9	84.2	(8)
Intersegment Eliminations [Member] | Gathering and Processing [Member]
Revenues
Sales of commodities									2,124.4	1,126.3	2,068.8
Fees from midstream services									7.8	8.7	5.2
Revenues									2,132.2	1,135	2,074
Intersegment Eliminations [Member] | Logistics and Marketing [Member]
Revenues
Sales of commodities									251.5	208.9	339.3
Fees from midstream services									23.5	17.8	28.5
Revenues									275	226.7	367.8
Intersegment Eliminations [Member] | Splitter Agreement [Member]
Revenues
Sales of commodities									(2,375.9)	(1,335.2)	(2,408.1)
Fees from midstream services									(31.3)	(26.5)	(33.7)
Revenues									$ (2,407.2)	$ (1,361.7)	$ (2,441.8)

Segment Information, Other Fina

Segment Information, Other Financial Information (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Mar. 31, 2016	Feb. 27, 2015
Other financial information [Abstract]
Total assets	[1]	$ 12,871.2	$ 13,211	$ 6,423.5
Goodwill, net		210	417	0	$ 393	$ 707
Capital expenditures		592.1	777.2	747.8
Total fair value of consideration transferred			5,024.2			$ 5,024.2
Operating Segments [Member] | Gathering and Processing [Member]
Other financial information [Abstract]
Total assets	[1]	9,800.6	10,391.9	3,776.2
Goodwill, net		210	417
Capital expenditures		402.5	496.3	437.1
Total fair value of consideration transferred			5,024.2
Operating Segments [Member] | Logistics and Marketing [Member]
Other financial information [Abstract]
Total assets	[1]	2,868.7	2,567.1	2,476.1
Capital expenditures		185.3	272	304.6
Operating Segments [Member] | Other Segment [Member]
Other financial information [Abstract]
Total assets	[1]	21.8	127.1	60.2
Operating Segments [Member] | Corporate and Other
Other financial information [Abstract]
Total assets	[1]	180.1	124.9	111
Capital expenditures		$ 4.3	$ 8.9	$ 6.1
[1]	Corporate assets at the segment level primarily include tax-related assets, cash, prepaids and debt issuance costs for our revolving credit facilities.

Segment Information - Summary o

Segment Information - Summary of Consolidated Revenues by Product and Service (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenue from External Customer [Line Items]
Sales of commodities									$ 5,626.8	$ 5,465.4	$ 7,595.2
Fees from midstream services									1,064.1	1,193.2	1,021.3
Total revenues	$ 2,012.6	$ 1,652.3	$ 1,583.6	$ 1,442.4	$ 1,647.4	$ 1,632.1	$ 1,699.4	$ 1,679.7	6,690.9	6,658.6	8,616.5
Natural Gas Sales [Member]
Revenue from External Customer [Line Items]
Sales of commodities									1,584.5	1,578.6	1,414.1
NGL Sales [Member]
Revenue from External Customer [Line Items]
Sales of commodities									3,777.3	3,558.3	5,960.1
Condensate Sales [Member]
Revenue from External Customer [Line Items]
Sales of commodities									133.9	142.4	134.3
Petroleum Products [Member]
Revenue from External Customer [Line Items]
Sales of commodities									68.2	101.6	96.3
Derivative Activities [Member]
Revenue from External Customer [Line Items]
Sales of commodities									62.9	84.5	(9.6)
Fractionating and Treating Fees [Member]
Revenue from External Customer [Line Items]
Fees from midstream services									126.2	209	208.9
Storage, Terminaling, Transportation and Export Fees [Member]
Revenue from External Customer [Line Items]
Fees from midstream services									420	506.2	548.1
Gathering and Processing Fees [Member]
Revenue from External Customer [Line Items]
Fees from midstream services									445	393.7	196.9
Other [Member]
Revenue from External Customer [Line Items]
Fees from midstream services									$ 72.9	$ 84.3	$ 67.4

Segment Information - Reconcili

Segment Information - Reconciliation of Operating Margin to Net Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Reconciliation of operating margin to net income (loss):
Operating margin									$ 1,214.3	$ 1,281	$ 1,136.5
Depreciation and amortization expenses									(757.7)	(677.1)	(351)
General and administrative expenses									(187.2)	(161.7)	(148)
Goodwill impairment	$ (183)			$ (24)	$ (290)				(207)	(290)	0
Interest expense, net									(254.2)	(231.9)	(147.1)
Other, net									(67.9)	(32.1)	0.6
Income tax (expense) benefit									100.6	(39.6)	(68)
Net income (loss)	$ (140.6)	$ (3.2)	$ (14.6)	$ (0.7)	$ (231.9)	$ 20.8	$ 23.8	$ 35.9	$ (159.1)	$ (151.4)	$ 423

Selected Quarterly Financial151

Selected Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended																12 Months Ended
	Dec. 31, 2016		Sep. 30, 2016		Jun. 30, 2016		Mar. 31, 2016		Dec. 31, 2015		Sep. 30, 2015		Jun. 30, 2015		Mar. 31, 2015		Dec. 31, 2016		Dec. 31, 2015		Dec. 31, 2014
Selected Quarterly Financial Information [Abstract]
Revenues	$ 2,012.6		$ 1,652.3		$ 1,583.6		$ 1,442.4		$ 1,647.4		$ 1,632.1		$ 1,699.4		$ 1,679.7		$ 6,690.9		$ 6,658.6		$ 8,616.5
Gross margin	468.6		429.6		438.4		431.4		459.8		468.8		471.3		421.1		1,768		1,821
Income (loss) from operations	(97.6)	[1],[2]	51.6	[1],[2]	66.3	[1],[2]	35.5	[1],[2]	(206.9)	[3],[4]	115.3	[3],[4]	112.4	[3],[4]	138.5	[3],[4]	55.8	[1],[2]	159.3	[3],[4]	640.5
Net income (loss)	(140.6)		(3.2)		(14.6)		(0.7)		(231.9)		20.8		23.8		35.9		(159.1)		(151.4)		423
Net income (loss) attributable to common shareholders	$ (179.6)		$ (39.4)		$ (52.6)		$ (6.5)		$ 27		$ 12.7		$ 15.2		$ 3.4		$ (278.1)		$ 58.3		$ 102.3
Net income (loss) per common share - basic	$ (1.18)		$ (0.23)		$ (0.33)		$ (0.06)		$ 0.48		$ 0.23		$ 0.27		$ 0.07		$ (1.80)		$ 1.09		$ 2.44
Net income (loss) per common share - diluted	$ (1.18)		$ (0.23)		$ (0.33)		$ (0.06)		$ 0.48		$ 0.23		$ 0.27		$ 0.07		$ (1.80)		$ 1.09		$ 2.43
[1]	Includes a goodwill impairment of $183.0 million in the fourth quarter of 2016. See Note 7 – Goodwill.
[2]	Includes an additional goodwill impairment of $24.0 million in the first quarter of 2016. See Note 7 – Goodwill.
[3]	Includes $32.6 million of impairment losses in the fourth quarter of 2015. See Note 6 – Property, Plant and Equipment and Intangible Assets.
[4]	Includes a provisional goodwill impairment of $290.0 million in the fourth quarter of 2015. See Note 7 – Goodwill

Selected Quarterly Financial152

Selected Quarterly Financial Data (Unaudited) (Parenthetical) (Details) - USD ($) $ in Millions	3 Months Ended			12 Months Ended
	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Selected Quarterly Financial Information [Abstract]
Impairment loss			$ 32.6		$ 32.6	$ 3.2
Goodwill impairment	$ 183	$ 24	$ 290	$ 207	$ 290	$ 0

Condensed Parent Only Financ153

Condensed Parent Only Financial Statements, Condensed Balance Sheets (Details) - USD ($) $ in Millions		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
ASSETS
Other long-term assets		$ 63.5	$ 67.4
Total assets	[1]	12,871.2	13,211	$ 6,423.5
LIABILITIES, SERIES A PREFERRED STOCK AND OWNERS' EQUITY
Long-term debt		4,606	5,718.8
Other long-term liabilities		215.1	186.9
Contingencies		0	0
Targa Resources Corp. stockholders' equity		5,248.6	1,461.4
Total liabilities, Series A Preferred Stock and owners' equity		12,871.2	13,211
Parent Company [Member]
ASSETS
Investment in consolidated subsidiaries		5,840.2	1,999.4
Deferred income taxes		54.5	43.7
Debt issuance costs		6.5	8.6
Other long-term assets			4.5
Total assets		5,901.2	2,056.2
LIABILITIES, SERIES A PREFERRED STOCK AND OWNERS' EQUITY
Accrued current liabilities		23.6	1.2
Long-term debt		429	593.1
Other long-term liabilities		9.2	0.5
Contingencies
Series A Preferred 9.5% Stock, net of discount		190.8
Targa Resources Corp. stockholders' equity		5,248.6	1,461.4
Total liabilities, Series A Preferred Stock and owners' equity		$ 5,901.2	$ 2,056.2
[1]	Corporate assets at the segment level primarily include tax-related assets, cash, prepaids and debt issuance costs for our revolving credit facilities.

Condensed Parent Only Financ154

Condensed Parent Only Financial Statements, Condensed Statements of Operations and Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended																12 Months Ended
	Dec. 31, 2016		Sep. 30, 2016		Jun. 30, 2016		Mar. 31, 2016		Dec. 31, 2015		Sep. 30, 2015		Jun. 30, 2015		Mar. 31, 2015		Dec. 31, 2016		Dec. 31, 2015		Dec. 31, 2014
CONDENSED STATEMENT OF OPERATIONS [Abstract]
Equity earnings (loss)																	$ (14.3)		$ (2.5)		$ 18
General and administrative expenses																	(187.2)		(161.7)		(148)
Income from operations	$ (97.6)	[1],[2]	$ 51.6	[1],[2]	$ 66.3	[1],[2]	$ 35.5	[1],[2]	$ (206.9)	[3],[4]	$ 115.3	[3],[4]	$ 112.4	[3],[4]	$ 138.5	[3],[4]	55.8	[1],[2]	159.3	[3],[4]	640.5
Other income (expense):
Other																	1.2		(26.6)		(8)
Income (loss) before income taxes																	(259.7)		(111.8)		491
Deferred income tax (expense) benefit																	37.8		(24.6)		4.4
Net income (loss) attributable to Targa Resources Corp.																	(187.3)		58.3		102.3
Other comprehensive income (loss)																	(99.8)		0.9		5.3
Comprehensive income (loss) attributable to Targa Resources Corp.																	(287.1)		59.2		107.6
Dividends on Series A preferred stock																	72.6
Deemed dividends																	18.2
Net income (loss) attributable to common shareholders	$ (179.6)		$ (39.4)		$ (52.6)		$ (6.5)		$ 27		$ 12.7		$ 15.2		$ 3.4		(278.1)		58.3		102.3
Parent Company [Member]
CONDENSED STATEMENT OF OPERATIONS [Abstract]
Equity earnings (loss)																	(167.3)		87.6		109.8
General and administrative expenses																	(10)		(8)		(8.3)
Income from operations																	(177.3)		79.6		101.5
Other income (expense):
Loss on extinguishment of debt																			(12.9)
Interest expense																	(20.8)		(24.2)		(3.2)
Income (loss) before income taxes																	(198.1)		42.5		98.3
Deferred income tax (expense) benefit																	10.8		15.8		4
Net income (loss) attributable to Targa Resources Corp.																	(187.3)		58.3		102.3
Other comprehensive income (loss)																	(99.8)		0.9		5.3
Comprehensive income (loss) attributable to Targa Resources Corp.																	(287.1)		59.2		107.6
Dividends on Series A preferred stock																	72.6
Deemed dividends																	18.2
Net income (loss) attributable to common shareholders																	$ (278.1)		$ 58.3		$ 102.3
[1]	Includes a goodwill impairment of $183.0 million in the fourth quarter of 2016. See Note 7 – Goodwill.
[2]	Includes an additional goodwill impairment of $24.0 million in the first quarter of 2016. See Note 7 – Goodwill.
[3]	Includes $32.6 million of impairment losses in the fourth quarter of 2015. See Note 6 – Property, Plant and Equipment and Intangible Assets.
[4]	Includes a provisional goodwill impairment of $290.0 million in the fourth quarter of 2015. See Note 7 – Goodwill

Condensed Parent Only Financ155

Condensed Parent Only Financial Statements, Condensed Statements of Cash Flows (Details) - USD ($) $ in Millions	Feb. 27, 2015	[1]	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
CONDENSED STATEMENTS OF CASH FLOWS [Abstract]
Net cash provided by (used in) operating activities			$ 837.4	$ 1,034.7	$ 761.8
Cash flows from investing activities
Outlays for business acquisitions, net of cash acquired	$ (745.7)			(1,574.4)
Net cash used in investing activities			(558.6)	(2,399.6)	(751.4)
Cash flows from financing activities
Excess tax benefit from stock-based awards				1.1	1
Net cash provided by (used in) financing activities			(345.5)	1,424.1	3.9
Net increase (decrease) in cash and cash equivalents			(66.7)	59.2	14.3
Cash and cash equivalents, beginning of period			140.2	81	66.7
Cash and cash equivalents, end of period			73.5	140.2	81
Parent Company [Member]
CONDENSED STATEMENTS OF CASH FLOWS [Abstract]
Net cash provided by (used in) operating activities			125.3	62.6	(1.3)
Cash flows from investing activities
Outlays for business acquisitions, net of cash acquired			0	(745.7)	0
Distribution and return of advances from consolidated subsidiaries			(921)	60.8	97.3
Net cash used in investing activities			(921)	(684.9)	97.3
Cash flows from financing activities
Proceeds from long-term debt borrowings			612	914.5	92
Repayments of long-term debt			(777)	(424)	(74)
Costs incurred in connection with financing arrangements			(41.3)	(22.5)	0
Proceeds from issuance of common stock, preferred stock and warrants			1,571.4	335.5	0
Repurchase of common stock			(3.5)	(3.3)	0
Dividends paid to common and preferred shareholders			(565.9)	(179)	(113)
Excess tax benefit from stock-based awards			0	1.1	(1)
Net cash provided by (used in) financing activities			795.7	622.3	(96)
Net increase (decrease) in cash and cash equivalents			0	0	0
Cash and cash equivalents, beginning of period			0	0	0
Cash and cash equivalents, end of period			$ 0	$ 0	$ 0
[1]	Net of cash acquired of $40.8 million.