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    Targa Resources Corp.

    Company overview

    Market capitalization
    $59.49B
    Employees
    3,570
    Latest publication
    2026-09-29
    About Targa Resources Corp.

    Targa Resources Corp., together with its subsidiaries, owns, operates, acquires, and develops a portfolio of complementary domestic infrastructure assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Transportation. The company is involved in gathering, compressing, treating, processing, transporting, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; and gathering, storing, terminaling, purchasing, and selling crude oil. It is involved in the purchase and resale of NGL products; and sale of propane, as well as provision of related logistics services to multi-state retailers, independent retailers, and other end-users. In addition, the company offers NGL balancing services; and transportation services to refineries and petrochemical companies in the Gulf Coast area, as well as purchases, markets, and resells natural gas. The company also leased and owned railcars, tractors, vacuum trucks and pressurized NGL barges. Targa Resources Corp. was incorporated in 2005 and is headquartered in Houston, Texas.

    Company website

    Financial statements

    Income YTD

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ2 20262026-06-30 · USD
    Total Revenue8,534,800,000USD
    Cost Of Revenue4,696,500,000USD
    Gross Profit3,838,300,000USD
    General And Administrative Expenses215,900,000USD
    Other Operating Expenses-25,900,000USD
    Total Operating Expenses1,756,900,000USD
    Operating Income2,081,400,000USD
    Total Other Income Expense Net-465,200,000USD
    Interest Expense464,200,000USD
    Depreciation And Amortization879,100,000USD
    Income Before Tax1,616,200,000USD
    Income Tax Expense351,100,000USD
    Equity Method Income Loss16,400,000USD
    Net Income1,265,100,000USD
    Minority Interest20,900,000USD
    Net Income Applicable To Common Shares1,244,200,000USD
    SourceDisclosureDeterministicFinal

    Income Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ2 20262026-06-30 · USD
    Total Revenue4,440,100,000USD
    Cost Of Revenue2,302,000,000USD
    Gross Profit2,138,100,000USD
    General And Administrative Expenses108,100,000USD
    Other Operating Expenses-11,700,000USD
    Total Operating Expenses903,600,000USD
    Operating Income1,234,500,000USD
    Total Other Income Expense Net-229,600,000USD
    Interest Expense236,600,000USD
    Depreciation And Amortization453,100,000USD
    Income Before Tax1,004,900,000USD
    Income Tax Expense227,200,000USD
    Equity Method Income Loss7,800,000USD
    Net Income777,700,000USD
    Minority Interest13,100,000USD
    Net Income Applicable To Common Shares764,600,000USD
    SourceDisclosureDeterministicFinal

    Balance sheet Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ2 20262026-06-30 · USDQ1 20262026-03-31 · USDQ4 20252025-12-31 · USDQ3 20252025-09-30 · USDQ2 20252025-06-30 · USDQ1 20252025-03-31 · USDQ4 20242024-12-31 · USDQ3 20242024-09-30 · USD
    Total Assets28,515,100,000USD27,107,300,000USD25,218,400,000USD24,174,800,000USD23,512,800,000USD22,800,300,000USD22,734,100,000USD21,903,800,000USD
    Cash And Equivalents132,300,000USD———————
    Long Term Investments317,500,000USD315,000,000USD307,100,000USD315,900,000USD268,600,000USD217,600,000USD193,300,000USD177,300,000USD
    Total Current Assets2,629,100,000USD2,438,200,000USD2,362,700,000USD2,279,600,000USD2,207,200,000USD2,076,200,000USD2,296,300,000USD2,028,200,000USD
    Other Current Assets157,500,000USD312,000,000USD292,700,000USD157,300,000USD242,000,000USD265,300,000USD186,400,000USD184,900,000USD
    Other Non Current Assets339,100,000USD———————
    Total Liabilities24,719,400,000USD———————
    Total Current Liabilities3,411,100,000USD3,395,900,000USD3,546,800,000USD2,947,200,000USD3,176,700,000USD3,198,100,000USD3,172,600,000USD2,627,300,000USD
    Other Current Liabilities288,100,000USD———————
    Other Non Current Liabilities406,700,000USD———————
    Total Stockholder Equity3,656,500,000USD3,136,500,000USD3,067,900,000USD2,706,800,000USD2,588,100,000USD2,451,500,000USD2,592,400,000USD2,573,900,000USD
    Total Equity Including Noncontrolling Interest3,795,700,000USD———————
    Short Long Term Debt19,578,000,000USD600,000,000USD677,000,000USD600,000,000USD703,300,000USD600,000,000USD330,000,000USD600,000,000USD
    Long Term Debt19,020,000,000USD18,185,300,000USD16,402,000,000USD16,474,300,000USD15,842,700,000USD15,312,500,000USD13,546,500,000USD13,364,100,000USD
    Net Receivables1,952,100,000USD1,691,700,000USD1,474,600,000USD1,407,700,000USD1,408,600,000USD1,403,300,000USD1,618,300,000USD1,301,200,000USD
    Inventory311,700,000USD334,400,000USD429,300,000USD490,700,000USD443,500,000USD256,200,000USD334,300,000USD414,900,000USD
    Property Plant Equipment Net23,062,600,000USD21,770,900,000USD20,628,700,000USD19,610,100,000USD19,020,300,000USD18,405,600,000USD18,062,700,000USD17,425,200,000USD
    Goodwill118,900,000USD———————
    Intangible Assets2,105,200,000USD2,201,200,000USD1,651,400,000USD1,732,900,000USD1,814,400,000USD1,895,900,000USD1,977,400,000USD2,070,700,000USD
    Accounts Payable2,108,400,000USD1,987,900,000USD1,873,000,000USD1,584,400,000USD1,726,700,000USD1,889,800,000USD2,012,500,000USD1,467,900,000USD
    Short Term Debt558,000,000USD696,900,000USD794,400,000USD689,300,000USD768,200,000USD660,400,000USD387,700,000USD653,300,000USD
    Common Stock200,000USD200,000USD200,000USD200,000USD200,000USD200,000USD200,000USD200,000USD
    Retained Earnings3,050,700,000USD2,556,900,000USD2,294,400,000USD1,966,200,000USD1,705,400,000USD1,295,300,000USD1,190,000,000USD1,004,700,000USD
    Accumulated Other Comprehensive Income74,500,000USD-14,700,000USD113,800,000USD57,400,000USD43,200,000USD6,100,000USD27,500,000USD65,100,000USD
    Total Liab—23,838,300,000USD22,020,200,000USD21,341,000,000USD20,801,400,000USD20,227,800,000USD18,315,900,000USD17,445,300,000USD
    Other Current Liab—711,100,000USD879,400,000USD673,500,000USD681,800,000USD647,900,000USD772,400,000USD506,100,000USD
    Capital Stock—200,000USD200,000USD200,000USD200,000USD0USD200,000USD200,000USD
    Cash—100,100,000USD166,100,000USD124,100,000USD113,100,000USD151,400,000USD157,300,000USD127,200,000USD
    Cash And Short Term Investments—100,100,000USD166,100,000USD223,900,000USD113,100,000USD151,400,000USD157,300,000USD127,200,000USD
    Current Deferred Revenue—22,000,000USD——————
    Net Debt—19,031,700,000USD17,380,200,000USD17,307,200,000USD16,737,400,000USD16,057,300,000USD14,107,700,000USD14,208,400,000USD
    Short Long Term Debt Total—19,131,800,000USD17,546,300,000USD17,431,300,000USD16,850,500,000USD16,208,700,000USD14,265,000,000USD14,335,600,000USD
    Property Plant Equipment Gross—34,751,000,000USD33,201,100,000USD31,974,100,000USD31,089,000,000USD30,181,100,000USD29,559,400,000USD28,632,400,000USD
    Common Stock Shares Outstanding—215,000,000shares215,000,000shares216,000,000shares217,300,000shares218,700,000shares221,300,000shares220,000,000shares
    Non Current Assets Total—24,669,100,000USD22,855,700,000USD21,895,200,000USD21,305,600,000USD20,724,100,000USD20,437,800,000USD19,875,600,000USD
    Non Current Liabilities Total—20,442,400,000USD18,473,400,000USD18,393,800,000USD17,624,700,000USD17,029,700,000USD15,143,300,000USD14,818,000,000USD
    Non Current Liabilities Other—415,500,000USD4,600,000USD391,600,000USD390,300,000USD384,800,000USD4,300,000USD4,300,000USD
    Non Currrent Assets Other—382,000,000USD156,200,000USD203,100,000USD202,300,000USD205,000,000USD204,400,000USD202,400,000USD
    Net Working Capital—-957,700,000USD-1,184,100,000USD-667,600,000USD-969,500,000USD-1,121,900,000USD-876,300,000USD-599,100,000USD
    Unclassified Current Liabilities—-622,000,000USD-677,000,000USD-600,000,000USD-703,300,000USD-600,000,000USD-330,000,000USD-600,000,000USD
    Unclassified Non Current Liabilities—1,841,600,000USD2,066,800,000USD1,527,900,000USD1,391,700,000USD1,332,400,000USD1,592,500,000USD1,449,600,000USD
    Unclassified Equity—593,900,000USD659,300,000USD682,800,000USD839,100,000USD1,149,900,000USD1,374,500,000USD1,503,700,000USD
    Good Will——112,300,000USD————1USD
    Short Term Investments——154,700,000USD99,800,000USD78,300,000USD——75,000,000USD
    Unclassified Current Assets——-154,700,000USD—-78,300,000USD——-75,000,000USD
    Other Assets——————-1,214,500,000USD—
    SourceDisclosureDeterministicFinalLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Balance sheet Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USDFY 20232023-12-31 · USDFY 20222022-12-31 · USDFY 20212021-12-31 · USDFY 20202020-12-31 · USDFY 20192019-12-31 · USDFY 20182018-12-31 · USD
    Total Assets25,218,400,000USD22,734,100,000USD20,671,800,000USD19,560,000,000USD15,208,200,000USD15,875,700,000USD18,815,100,000USD16,938,200,000USD
    Intangible Assets1,651,400,000USD1,977,400,000USD2,350,600,000USD2,734,600,000USD1,094,800,000USD1,382,400,000USD1,735,000,000USD1,983,200,000USD
    Other Current Assets292,700,000USD186,400,000USD210,400,000USD335,400,000USD126,000,000USD173,200,000USD310,700,000USD156,600,000USD
    Total Liab22,020,200,000USD18,315,900,000USD16,061,800,000USD14,577,800,000USD10,029,500,000USD9,972,500,000USD10,372,200,000USD9,467,400,000USD
    Total Stockholder Equity3,067,900,000USD2,592,400,000USD2,739,700,000USD2,665,700,000USD2,011,800,000USD2,653,900,000USD4,920,800,000USD6,079,400,000USD
    Other Current Liab879,400,000USD772,400,000USD565,300,000USD783,600,000USD733,400,000USD577,000,000USD473,200,000USD522,700,000USD
    Common Stock200,000USD200,000USD200,000USD200,000USD200,000USD200,000USD200,000USD200,000USD
    Capital Stock200,000USD200,000USD200,000USD200,000USD200,000USD200,000USD279,000,000USD200,000USD
    Retained Earnings2,294,400,000USD1,190,000,000USD492,000,000USD-626,800,000USD-1,822,300,000USD-1,893,500,000USD-339,600,000USD-130,400,000USD
    Good Will112,300,000USD—45,200,000USD45,200,000USD45,200,000USD—45,200,000USD46,600,000USD
    Cash166,100,000USD157,300,000USD141,700,000USD219,000,000USD158,500,000USD242,800,000USD331,100,000USD232,100,000USD
    Cash And Short Term Investments166,100,000USD157,300,000USD141,700,000USD219,000,000USD158,500,000USD242,800,000USD331,100,000USD232,100,000USD
    Total Current Assets2,362,700,000USD2,296,300,000USD2,194,600,000USD2,356,600,000USD1,769,800,000USD1,460,300,000USD1,658,300,000USD1,418,900,000USD
    Total Current Liabilities3,546,800,000USD3,172,600,000USD2,760,900,000USD3,066,700,000USD2,298,500,000USD1,779,400,000USD1,872,600,000USD2,798,800,000USD
    Net Debt17,380,200,000USD14,107,700,000USD12,868,700,000USD11,346,000,000USD6,473,200,000USD7,559,100,000USD7,538,500,000USD6,428,200,000USD
    Short Term Debt794,400,000USD387,700,000USD620,700,000USD834,300,000USD162,800,000USD368,600,000USD382,200,000USD1,027,900,000USD
    Short Long Term Debt677,000,000USD330,000,000USD575,000,000USD800,000,000USD150,000,000USD356,500,000USD370,000,000USD1,027,900,000USD
    Short Long Term Debt Total17,546,300,000USD14,265,000,000USD13,010,400,000USD11,565,000,000USD6,631,700,000USD7,801,900,000USD7,869,600,000USD6,660,300,000USD
    Long Term Debt16,402,000,000USD13,546,500,000USD12,089,100,000USD10,509,100,000USD6,420,700,000USD7,368,400,000USD7,414,400,000USD5,632,400,000USD
    Long Term Investments307,100,000USD193,300,000USD146,300,000USD155,800,000USD594,200,000USD763,300,000USD738,700,000USD490,500,000USD
    Net Receivables1,474,600,000USD1,618,300,000USD1,471,000,000USD1,408,400,000USD1,331,900,000USD862,800,000USD855,000,000USD865,500,000USD
    Inventory429,300,000USD334,300,000USD371,500,000USD393,800,000USD153,400,000USD181,500,000USD161,500,000USD164,700,000USD
    Accounts Payable1,873,000,000USD2,012,500,000USD1,574,900,000USD1,448,800,000USD1,402,300,000USD833,800,000USD954,800,000USD1,200,500,000USD
    Property Plant Equipment Net20,628,700,000USD18,062,700,000USD15,806,400,000USD14,214,600,000USD11,667,700,000USD12,173,600,000USD14,548,500,000USD12,928,400,000USD
    Property Plant Equipment Gross33,201,100,000USD29,559,400,000USD26,265,200,000USD23,913,200,000USD20,596,100,000USD12,173,000,000USD14,548,500,000USD12,928,400,000USD
    Accumulated Other Comprehensive Income113,800,000USD27,500,000USD85,600,000USD54,700,000USD-230,900,000USD-141,800,000USD92,500,000USD94,300,000USD
    Common Stock Shares Outstanding215,000,000shares221,300,000shares226,000,000shares231,100,000shares228,600,000shares232,200,000shares232,500,000shares224,200,000shares
    Non Current Assets Total22,855,700,000USD20,437,800,000USD18,477,200,000USD17,203,400,000USD13,438,400,000USD14,415,400,000USD17,156,800,000USD15,519,300,000USD
    Non Current Liabilities Total18,473,400,000USD15,143,300,000USD13,300,900,000USD11,511,100,000USD7,731,000,000USD8,193,100,000USD8,499,600,000USD6,668,600,000USD
    Non Current Liabilities Other4,600,000USD4,300,000USD6,800,000USD341,200,000USD301,600,000USD309,100,000USD20,100,000USD31,200,000USD
    Non Currrent Assets Other156,200,000USD204,400,000USD173,900,000USD122,900,000USD89,400,000USD145,400,000USD134,600,000USD70,600,000USD
    Net Working Capital-1,184,100,000USD-876,300,000USD-566,300,000USD-710,100,000USD-528,700,000USD-319,100,000USD-214,300,000USD-1,379,900,000USD
    Unclassified Current Liabilities-677,000,000USD-330,000,000USD-596,800,000USD-1,127,700,000USD-625,200,000USD-790,900,000USD-690,400,000USD-1,027,900,000USD
    Unclassified Non Current Liabilities2,066,800,000USD1,592,500,000USD1,205,000,000USD-587,400,000USD251,000,000USD-138,300,000USD-143,300,000USD-313,800,000USD
    Unclassified Equity659,300,000USD1,374,500,000USD2,161,700,000USD3,702,100,000USD4,268,700,000USD4,839,700,000USD4,942,200,000USD6,154,700,000USD
    Current Deferred Revenue——21,800,000USD327,700,000USD475,200,000USD434,400,000USD382,800,000USD47,700,000USD
    Short Term Investments——111,900,000USD179,900,000USD43,100,000USD85,500,000USD103,300,000USD115,300,000USD
    Unclassified Current Assets——-111,900,000USD-179,900,000USD-43,100,000USD-85,500,000USD-103,300,000USD-115,300,000USD
    Deferred Long Term Liab———467,800,000USD245,300,000USD195,500,000USD475,000,000USD528,300,000USD
    Other Liab———780,400,000USD512,400,000USD458,400,000USD733,400,000USD790,500,000USD
    Other Assets———122,900,000USD89,400,000USD860,000,000USD47,400,000USD70,600,000USD
    Treasury Stock———-464,700,000USD-204,100,000USD-150,900,000USD-53,500,000USD-39,600,000USD
    Net Tangible Assets———-68,900,000USD1,666,700,000USD1,572,900,000USD3,140,600,000USD4,049,600,000USD
    Unclassified Non Current Assets———-192,600,000USD-142,300,000USD-909,300,000USD——
    Accumulated Depreciation——————-5,328,300,000USD-4,292,300,000USD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Cash flow YTD

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ2 20262026-06-30 · USD
    Net Income1,265,100,000USD
    Depreciation879,100,000USD
    Stock Based Compensation41,200,000USD
    Deferred Income Tax350,300,000USD
    Unclassified Operating Cash Flow30,700,000USD
    Change To Inventory106,400,000USD
    Change To Liabilities-99,500,000USD
    Change In Working Capital-385,600,000USD
    Operating Cash Flow2,180,800,000USD
    Capital Expenditures-1,909,600,000USD
    Net Investments-5,000,000USD
    Other Investing Activities6,500,000USD
    Unclassified Investing Cash Flow-1,266,300,000USD
    Investing Cash Flow-3,174,400,000USD
    Net Debt Issuance1,634,500,000USD
    Net Common Stock Issuance-168,700,000USD
    Common Dividends Paid-488,600,000USD
    Other Financing Activities-5,100,000USD
    Unclassified Financing Cash Flow-12,300,000USD
    Financing Cash Flow959,800,000USD
    Change In Cash-33,800,000USD
    End Cash Flow132,300,000USD
    SourceDisclosureDeterministicFinal

    Cash flow Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ1 20262026-03-31 · USDQ4 20252025-12-31 · USDQ3 20252025-09-30 · USDQ2 20252025-06-30 · USDQ1 20252025-03-31 · USDQ4 20242024-12-31 · USDQ3 20242024-09-30 · USDQ2 20242024-06-30 · USD
    Net Income479,600,000USD545,000,000USD475,500,000USD637,200,000USD279,800,000USD414,000,000USD447,900,000USD359,000,000USD
    Depreciation426,000,000USD390,500,000USD383,500,000USD373,700,000USD367,600,000USD378,500,000USD355,400,000USD348,600,000USD
    Stock Based Compensation23,200,000USD17,300,000USD17,500,000USD17,100,000USD17,600,000USD15,800,000USD17,700,000USD15,100,000USD
    Other Non Cash Items131,900,000USD25,200,000USD49,000,000USD-266,500,000USD253,500,000USD93,500,000USD22,800,000USD58,000,000USD
    Change To Inventory96,000,000USD57,200,000USD-41,300,000USD-184,200,000USD78,800,000USD80,700,000USD-107,400,000USD-86,800,000USD
    Change In Working Capital-445,100,000USD388,400,000USD-488,000,000USD-73,000,000USD-21,000,000USD323,200,000USD-396,200,000USD32,800,000USD
    Total Cash From Operating Activities739,500,000USD1,505,500,000USD599,200,000USD858,300,000USD954,400,000USD1,327,900,000USD540,900,000USD904,500,000USD
    Capital Expenditures-899,500,000USD-963,200,000USD-671,800,000USD-906,100,000USD-792,200,000USD-726,900,000USD-828,800,000USD-740,300,000USD
    Free Cash Flow-160,000,000USD542,300,000USD-72,600,000USD-47,800,000USD162,200,000USD601,000,000USD-287,900,000USD164,200,000USD
    Total Cashflows From Investing Activities-2,160,900,000USD-1,180,800,000USD-691,100,000USD-956,800,000USD-813,300,000USD-746,300,000USD-847,300,000USD-749,800,000USD
    Net Borrowings1,683,500,000USD-8,000,000USD499,200,000USD628,200,000USD2,038,800,000USD-104,400,000USD684,400,000USD—
    Total Cash From Financing Activities1,355,400,000USD-282,700,000USD102,900,000USD60,200,000USD-147,000,000USD-551,500,000USD267,200,000USD-98,200,000USD
    Dividends Paid-218,900,000USD-215,800,000USD-216,900,000USD-218,400,000USD-167,200,000USD-164,900,000USD-166,400,000USD-167,600,000USD
    Sale Purchase Of Stock-55,000,000USD-37,000,000USD-155,600,000USD-324,300,000USD-124,900,000USD-54,700,000USD-221,200,000USD-355,100,000USD
    Change In Cash-66,000,000USD42,000,000USD11,000,000USD-38,300,000USD-5,900,000USD30,100,000USD-39,200,000USD56,500,000USD
    Begin Period Cash Flow166,100,000USD124,100,000USD113,100,000USD151,400,000USD157,300,000USD127,200,000USD166,400,000USD109,900,000USD
    End Period Cash Flow100,100,000USD166,100,000USD124,100,000USD113,100,000USD151,400,000USD157,300,000USD127,200,000USD166,400,000USD
    Other Cashflows From Investing Activities900,000USD—26,800,000USD100,000USD200,000USD-400,000USD800,000USD900,000USD
    Other Cashflows From Financing Activities-39,200,000USD-8,100,000USD-21,800,000USD-25,300,000USD-1,893,700,000USD-227,500,000USD-29,600,000USD-56,100,000USD
    Unclassified Operating Cash Flow123,900,000USD139,100,000USD161,700,000USD169,800,000USD56,900,000USD102,900,000USD93,300,000USD91,000,000USD
    Unclassified Investing Cash Flow-1,262,300,000USD-217,600,000USD645,000,000USD906,000,000USD792,000,000USD727,300,000USD828,000,000USD739,400,000USD
    Unclassified Financing Cash Flow-15,000,000USD-13,800,000USD-2,000,000USD————480,600,000USD
    Change To Account Receivables——197,900,000USD102,700,000USD217,100,000USD-314,400,000USD-63,500,000USD263,100,000USD
    Investments——-691,100,000USD-956,800,000USD-813,300,000USD-746,300,000USD-847,300,000USD-749,800,000USD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Cash flow Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USDFY 20232023-12-31 · USDFY 20222022-12-31 · USDFY 20212021-12-31 · USDFY 20202020-12-31 · USDFY 20192019-12-31 · USDFY 20182018-12-31 · USD
    Net Income1,841,400,000USD1,553,500,000USD1,579,300,000USD1,531,400,000USD422,100,000USD-1,325,000,000USD41,200,000USD60,400,000USD
    Depreciation1,521,500,000USD1,423,000,000USD1,329,600,000USD1,096,000,000USD870,600,000USD865,100,000USD971,600,000USD815,900,000USD
    Stock Based Compensation69,500,000USD63,200,000USD62,400,000USD57,500,000USD59,200,000USD66,200,000USD60,300,000USD56,300,000USD
    Other Non Cash Items231,500,000USD204,300,000USD-248,500,000USD-65,200,000USD733,100,000USD2,311,600,000USD393,500,000USD168,800,000USD
    Change To Inventory-89,500,000USD33,500,000USD36,000,000USD-236,200,000USD40,600,000USD-27,700,000USD-45,000,000USD-13,900,000USD
    Change In Working Capital-193,600,000USD38,700,000USD139,200,000USD-364,000,000USD205,800,000USD59,300,000USD11,100,000USD37,100,000USD
    Total Cash From Operating Activities3,917,400,000USD3,649,700,000USD3,211,600,000USD2,380,800,000USD2,302,900,000USD1,744,500,000USD1,389,800,000USD1,144,000,000USD
    Capital Expenditures-3,333,300,000USD-2,965,800,000USD-2,385,400,000USD-1,334,300,000USD-505,100,000USD-951,600,000USD-2,877,800,000USD-3,114,800,000USD
    Free Cash Flow584,100,000USD683,900,000USD826,200,000USD1,046,500,000USD1,797,800,000USD792,900,000USD-1,488,000,000USD-1,970,800,000USD
    Total Cashflows From Investing Activities-5,442,400,000USD-3,021,300,000USD-2,400,800,000USD-4,149,700,000USD-473,200,000USD-738,100,000USD-3,071,900,000USD-3,146,900,000USD
    Net Borrowings3,158,200,000USD1,159,800,000USD1,336,100,000USD-25,833,100,000USD-1,176,600,000USD-20,500,000USD1,105,100,000USD1,585,300,000USD
    Total Cash From Financing Activities1,533,800,000USD-612,800,000USD-888,100,000USD1,829,400,000USD-1,914,000,000USD-1,094,700,000USD1,781,100,000USD2,097,800,000USD
    Dividends Paid-818,300,000USD-615,500,000USD-427,300,000USD-379,700,000USD-187,500,000USD-395,900,000USD-964,800,000USD-908,300,000USD
    Sale Purchase Of Stock-641,800,000USD-754,700,000USD-373,700,000USD-1,225,800,000USD-53,200,000USD-268,200,000USD555,300,000USD-4,000,000USD
    Change In Cash8,800,000USD15,600,000USD-77,300,000USD60,500,000USD-84,300,000USD-88,300,000USD99,000,000USD94,900,000USD
    Begin Period Cash Flow157,300,000USD141,700,000USD219,000,000USD158,500,000USD242,800,000USD331,100,000USD232,100,000USD137,200,000USD
    End Period Cash Flow166,100,000USD157,300,000USD141,700,000USD219,000,000USD158,500,000USD242,800,000USD331,100,000USD232,100,000USD
    Other Cashflows From Investing Activities27,100,000USD1,900,000USD3,700,000USD-3,687,700,000USD12,300,000USD203,000,000USD-1,100,000USD-12,500,000USD
    Other Cashflows From Financing Activities-107,199,999USD-402,400,000USD-1,423,200,000USD40,558,400,000USD-493,800,000USD-407,600,000USD8,161,000,000USD722,400,000USD
    Unclassified Operating Cash Flow447,100,000USD367,000,000USD349,600,000USD125,100,000USD—-232,700,000USD-87,900,000USD—
    Unclassified Investing Cash Flow-2,136,200,000USD2,963,900,000USD2,156,800,000USD————256,900,000USD
    Unclassified Financing Cash Flow-57,100,001USD——-11,290,400,000USD——-7,075,500,000USD702,400,000USD
    Change To Account Receivables—-75,000,000USD-20,600,000USD1,230,000,000USD-392,400,000USD-25,600,000USD-24,700,000USD-6,200,000USD
    Investments—-3,021,300,000USD-2,175,900,000USD872,300,000USD19,600,000USD10,500,000USD-193,000,000USD-276,500,000USD
    Change To Liabilities———35,500,000USD5,900,000USD6,900,000USD80,800,000USD57,200,000USD
    Cash And Cash Equivalents Changes———60,500,000USD-84,300,000USD-88,300,000USD99,000,000USD94,900,000USD
    Issuance Of Capital Stock—————0USD0USD689,000,000USD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Operating metrics

    Badlands NGL Production

    Period endPeriodValueUnitSource
    2026-06-30quarterly16.9MBbl/dDisclosure

    Badlands Natural Gas Inlet

    Period endPeriodValueUnitSource
    2026-06-30quarterly133.8MMcf/dDisclosure

    Central NGL Production

    Period endPeriodValueUnitSource
    2026-06-30quarterly118.3MBbl/dDisclosure

    Central Plant Natural Gas Inlet

    Period endPeriodValueUnitSource
    2026-06-30quarterly1,010.3MMcf/dDisclosure

    Coastal NGL Production

    Period endPeriodValueUnitSource
    2026-06-30quarterly38.7MBbl/dDisclosure

    Coastal Plant Natural Gas Inlet

    Period endPeriodValueUnitSource
    2026-06-30quarterly577.5MMcf/dDisclosure

    Condensate Sales Volume

    Period endPeriodValueUnitSource
    2026-06-30quarterly22.4MBbl/dDisclosure

    Crude Oil Gathered

    Period endPeriodValueUnitSource
    2026-06-30quarterly143.8MBbl/dDisclosure

    Export Volume

    Period endPeriodValueUnitSource
    2026-06-30quarterly487.1MBbl/dDisclosure

    Fractionation Volume

    Period endPeriodValueUnitSource
    2026-06-30quarterly1,206.1MBbl/dDisclosure

    Logistics NGL Sales Volume

    Period endPeriodValueUnitSource
    2026-06-30quarterly1,310.9MBbl/dDisclosure

    NGL Pipeline Transportation Volume

    Period endPeriodValueUnitSource
    2026-06-30quarterly1,098.9MBbl/dDisclosure

    NGL Sales Volume

    Period endPeriodValueUnitSource
    2026-06-30quarterly680.8MBbl/dDisclosure

    Natural Gas Sales Volume

    Period endPeriodValueUnitSource
    2026-06-30quarterly3,080.1BBtu/dDisclosure

    Permian Delaware NGL Production

    Period endPeriodValueUnitSource
    2026-06-30quarterly500.8MBbl/dDisclosure

    Permian Delaware Plant Natural Gas Inlet

    Period endPeriodValueUnitSource
    2026-06-30quarterly3,793.8MMcf/dDisclosure

    Permian Midland NGL Production

    Period endPeriodValueUnitSource
    2026-06-30quarterly506.1MBbl/dDisclosure

    Permian Midland Plant Natural Gas Inlet

    Period endPeriodValueUnitSource
    2026-06-30quarterly3,393.5MMcf/dDisclosure

    Total NGL Production

    Period endPeriodValueUnitSource
    2026-06-30quarterly1,180.8MBbl/dDisclosure

    Total Permian NGL Production

    Period endPeriodValueUnitSource
    2026-06-30quarterly1,006.9MBbl/dDisclosure

    Total Permian Plant Natural Gas Inlet

    Period endPeriodValueUnitSource
    2026-06-30quarterly7,187.3MMcf/dDisclosure

    Total Plant Natural Gas Inlet

    Period endPeriodValueUnitSource
    2026-06-30quarterly8,908.9MMcf/dDisclosure

    Revenue breakdown

    PeriodDimensionBusiness / regionRevenueCurrencySource
    Q1 2026Quarterly · 2026-03-31ProductGathering And Processing Fees559,700,000USD0001193125-26-211698
    Q1 2026Quarterly · 2026-03-31ProductMidstream Services Other849,100,000USD0001193125-26-211698
    Q1 2026Quarterly · 2026-03-31ProductNatural Gas Liquids Reserves2,982,800,000USD0001193125-26-211698
    Q1 2026Quarterly · 2026-03-31ProductNatural Gas Reserves473,700,000USD0001193125-26-211698
    Q1 2026Quarterly · 2026-03-31ProductNGLTransportation Fractionation And Services68,500,000USD0001193125-26-211698
    Q1 2026Quarterly · 2026-03-31ProductOil And Condensate131,800,000USD0001193125-26-211698
    Q1 2026Quarterly · 2026-03-31ProductStorage Terminaling And Export123,100,000USD0001193125-26-211698
    Q4 2025Quarterly · 2025-12-31ProductGathering And Processing Fees454,600,000USDLegacy provider
    Q4 2025Quarterly · 2025-12-31ProductMidstream Services Other894,200,000USDLegacy provider
    Q4 2025Quarterly · 2025-12-31ProductNatural Gas Liquids Reserves2,960,200,000USDLegacy provider
    Q4 2025Quarterly · 2025-12-31ProductNatural Gas Reserves393,100,000USDLegacy provider
    Q4 2025Quarterly · 2025-12-31ProductNGLTransportation Fractionation And Services68,300,000USDLegacy provider
    Q4 2025Quarterly · 2025-12-31ProductOil And Condensate112,000,000USDLegacy provider
    Q4 2025Quarterly · 2025-12-31ProductStorage Terminaling And Export127,300,000USDLegacy provider
    FY 2025Yearly · 2025-12-31ProductGathering And Processing Fees1,793,200,000USD0001193125-26-059296
    FY 2025Yearly · 2025-12-31ProductMidstream Services Other4,815,000,000USD0001193125-26-059296
    FY 2025Yearly · 2025-12-31ProductNatural Gas Liquids Reserves12,079,800,000USD0001193125-26-059296
    FY 2025Yearly · 2025-12-31ProductNatural Gas Reserves2,035,700,000USD0001193125-26-059296
    FY 2025Yearly · 2025-12-31ProductNGLTransportation Fractionation And Services311,600,000USD0001193125-26-059296
    FY 2025Yearly · 2025-12-31ProductOil And Condensate448,300,000USD0001193125-26-059296
    FY 2025Yearly · 2025-12-31ProductStorage Terminaling And Export496,800,000USD0001193125-26-059296
    Q3 2025Quarterly · 2025-09-30ProductGathering And Processing Fees465,900,000USD0001193125-25-266435
    Q3 2025Quarterly · 2025-09-30ProductMidstream Services Other1,222,200,000USD0001193125-25-266435
    Q3 2025Quarterly · 2025-09-30ProductNatural Gas Liquids Reserves2,909,900,000USD0001193125-25-266435
    Q3 2025Quarterly · 2025-09-30ProductNatural Gas Reserves502,500,000USD0001193125-25-266435
    Q3 2025Quarterly · 2025-09-30ProductNGLTransportation Fractionation And Services86,900,000USD0001193125-25-266435
    Q3 2025Quarterly · 2025-09-30ProductOil And Condensate108,000,000USD0001193125-25-266435
    Q3 2025Quarterly · 2025-09-30ProductStorage Terminaling And Export113,200,000USD0001193125-25-266435
    Q2 2025Quarterly · 2025-06-30ProductGathering And Processing Fees403,700,000USD0001193125-25-175239
    Q2 2025Quarterly · 2025-06-30ProductMidstream Services Other1,157,900,000USD0001193125-25-175239
    Q2 2025Quarterly · 2025-06-30ProductNatural Gas Liquids Reserves2,832,900,000USD0001193125-25-175239
    Q2 2025Quarterly · 2025-06-30ProductNatural Gas Reserves458,200,000USD0001193125-25-175239
    Q2 2025Quarterly · 2025-06-30ProductNGLTransportation Fractionation And Services83,200,000USD0001193125-25-175239
    Q2 2025Quarterly · 2025-06-30ProductOil And Condensate111,300,000USD0001193125-25-175239
    Q2 2025Quarterly · 2025-06-30ProductStorage Terminaling And Export120,900,000USD0001193125-25-175239
    Q1 2025Quarterly · 2025-03-31ProductGathering And Processing Fees469,000,000USD0001193125-26-211698
    Q1 2025Quarterly · 2025-03-31ProductMidstream Services Other1,540,700,000USD0001193125-26-211698
    Q1 2025Quarterly · 2025-03-31ProductNatural Gas Liquids Reserves3,376,800,000USD0001193125-26-211698
    Q1 2025Quarterly · 2025-03-31ProductNatural Gas Reserves681,900,000USD0001193125-26-211698
    Q1 2025Quarterly · 2025-03-31ProductNGLTransportation Fractionation And Services73,200,000USD0001193125-26-211698
    Q1 2025Quarterly · 2025-03-31ProductOil And Condensate117,000,000USD0001193125-26-211698
    Q1 2025Quarterly · 2025-03-31ProductStorage Terminaling And Export135,400,000USD0001193125-26-211698
    Q4 2024Quarterly · 2024-12-31ProductGathering And Processing Fees414,800,000USDLegacy provider
    Q4 2024Quarterly · 2024-12-31ProductMidstream Services Other1,253,700,000USDLegacy provider
    Q4 2024Quarterly · 2024-12-31ProductNatural Gas Liquids Reserves3,347,700,000USDLegacy provider
    Q4 2024Quarterly · 2024-12-31ProductNatural Gas Reserves419,500,000USDLegacy provider
    Q4 2024Quarterly · 2024-12-31ProductNGLTransportation Fractionation And Services76,800,000USDLegacy provider
    Q4 2024Quarterly · 2024-12-31ProductOil And Condensate118,100,000USDLegacy provider
    Q4 2024Quarterly · 2024-12-31ProductStorage Terminaling And Export135,700,000USDLegacy provider
    FY 2024Yearly · 2024-12-31ProductGathering And Processing Fees1,632,800,000USD0001193125-26-059296
    FY 2024Yearly · 2024-12-31ProductMidstream Services Other4,272,500,000USD0001193125-26-059296
    FY 2024Yearly · 2024-12-31ProductNatural Gas Liquids Reserves12,372,500,000USD0001193125-26-059296
    FY 2024Yearly · 2024-12-31ProductNatural Gas Reserves1,241,100,000USD0001193125-26-059296
    FY 2024Yearly · 2024-12-31ProductNGLTransportation Fractionation And Services298,400,000USD0001193125-26-059296
    FY 2024Yearly · 2024-12-31ProductOil And Condensate523,600,000USD0001193125-26-059296
    FY 2024Yearly · 2024-12-31ProductStorage Terminaling And Export497,900,000USD0001193125-26-059296
    Q3 2024Quarterly · 2024-09-30ProductGathering And Processing Fees426,400,000USD0001193125-25-266435
    Q3 2024Quarterly · 2024-09-30ProductMidstream Services Other918,800,000USD0001193125-25-266435
    Q3 2024Quarterly · 2024-09-30ProductNatural Gas Liquids Reserves2,959,500,000USD0001193125-25-266435
    Q3 2024Quarterly · 2024-09-30ProductNatural Gas Reserves168,400,000USD0001193125-25-266435
    Q3 2024Quarterly · 2024-09-30ProductNGLTransportation Fractionation And Services72,800,000USD0001193125-25-266435
    Q3 2024Quarterly · 2024-09-30ProductOil And Condensate123,200,000USD0001193125-25-266435
    Q3 2024Quarterly · 2024-09-30ProductStorage Terminaling And Export122,000,000USD0001193125-25-266435
    Q2 2024Quarterly · 2024-06-30ProductGathering And Processing Fees385,700,000USD0001193125-25-175239
    Q2 2024Quarterly · 2024-06-30ProductMidstream Services Other915,600,000USD0001193125-25-175239
    Q2 2024Quarterly · 2024-06-30ProductNatural Gas Liquids Reserves2,719,600,000USD0001193125-25-175239
    Q2 2024Quarterly · 2024-06-30ProductNatural Gas Reserves158,600,000USD0001193125-25-175239
    Q2 2024Quarterly · 2024-06-30ProductNGLTransportation Fractionation And Services75,200,000USD0001193125-25-175239
    Q2 2024Quarterly · 2024-06-30ProductOil And Condensate145,100,000USD0001193125-25-175239
    Q2 2024Quarterly · 2024-06-30ProductStorage Terminaling And Export114,500,000USD0001193125-25-175239
    FY 2023Yearly · 2023-12-31ProductGathering And Processing Fees1,342,800,000USD0000950170-24-015841
    FY 2023Yearly · 2023-12-31ProductMidstream Services Other494,700,000USD0000950170-24-015841
    FY 2023Yearly · 2023-12-31ProductNatural Gas Liquids Reserves10,580,200,000USD0000950170-24-015841
    FY 2023Yearly · 2023-12-31ProductNatural Gas Reserves2,421,300,000USD0000950170-24-015841
    FY 2023Yearly · 2023-12-31ProductNGLTransportation Fractionation And Services261,100,000USD0000950170-24-015841
    FY 2023Yearly · 2023-12-31ProductOil And Condensate519,500,000USD0000950170-24-015841
    FY 2023Yearly · 2023-12-31ProductStorage Terminaling And Export440,700,000USD0000950170-24-015841
    Q3 2023Quarterly · 2023-09-30SegmentAll Other Segments-33,500,000USD0000950170-24-121370
    Q3 2023Quarterly · 2023-09-30SegmentCorporate Non Segment And Inter Segment Elimination-1,359,900,000USD0000950170-24-121370
    Q3 2023Quarterly · 2023-09-30SegmentGathering And Processing1,868,100,000USD0000950170-24-121370
    Q3 2023Quarterly · 2023-09-30SegmentLogistics And Transportation3,421,900,000USD0000950170-24-121370
    Q2 2023Quarterly · 2023-06-30SegmentAll Other Segments151,900,000USD0000950170-24-089135
    Q2 2023Quarterly · 2023-06-30SegmentCorporate Non Segment And Inter Segment Elimination-1,070,500,000USD0000950170-24-089135
    Q2 2023Quarterly · 2023-06-30SegmentGathering And Processing1,566,200,000USD0000950170-24-089135
    Q2 2023Quarterly · 2023-06-30SegmentLogistics And Transportation2,756,100,000USD0000950170-24-089135
    Q1 2023Quarterly · 2023-03-31SegmentAll Other Segments175,800,000USD0000950170-24-051853
    Q1 2023Quarterly · 2023-03-31SegmentCorporate Non Segment And Inter Segment Elimination-1,436,500,000USD0000950170-24-051853
    Q1 2023Quarterly · 2023-03-31SegmentGathering And Processing1,955,800,000USD0000950170-24-051853
    Q1 2023Quarterly · 2023-03-31SegmentLogistics And Transportation3,825,400,000USD0000950170-24-051853
    FY 2022Yearly · 2022-12-31ProductProduct19,066,000,000USD0000950170-25-023983
    FY 2022Yearly · 2022-12-31ProductServices1,863,800,000USD0000950170-25-023983
    Q3 2022Quarterly · 2022-09-30SegmentAll Other Segments-112,200,000USD0000950170-23-058137
    Q3 2022Quarterly · 2022-09-30SegmentCorporate Non Segment And Inter Segment Elimination-2,940,800,000USD0000950170-23-058137
    Q3 2022Quarterly · 2022-09-30SegmentGathering And Processing3,331,200,000USD0000950170-23-058137
    Q3 2022Quarterly · 2022-09-30SegmentLogistics And Transportation5,081,900,000USD0000950170-23-058137
    Q2 2022Quarterly · 2022-06-30SegmentAll Other Segments-4,500,000USD0000950170-23-037748
    Q2 2022Quarterly · 2022-06-30SegmentCorporate Non Segment And Inter Segment Elimination-2,799,700,000USD0000950170-23-037748
    Q2 2022Quarterly · 2022-06-30SegmentGathering And Processing3,169,600,000USD0000950170-23-037748
    Q2 2022Quarterly · 2022-06-30SegmentLogistics And Transportation5,690,400,000USD0000950170-23-037748
    Q1 2022Quarterly · 2022-03-31SegmentAll Other Segments-178,300,000USD0000950170-23-017657

    Periods follow company fiscal calendars. Quarterly, annual and year-to-date amounts are shown separately. Missing values are not zero. Data may be delayed, incomplete or corrected; follow the disclosure links to verify figures.