v3.26.3
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 142.6 $ 166.1
Trade receivables, net of allowances of $0.7 million and $0.7 million as of September 30, 2026 and December 31, 2025 2,179.6 1,474.6
Inventories 341.8 429.3
Assets from risk management activities 61.0 154.7
Other current assets 182.6 138.0
Total current assets 2,907.6 2,362.7
Property, plant and equipment, net 23,964.6 20,534.8
Intangible assets, net 2,002.7 1,651.4
Long-term assets from risk management activities 39.2 35.0
Investments in unconsolidated affiliates 321.7 307.1
Other long-term assets 360.0 327.4
Total assets 29,595.8 [1] 25,218.4
Current liabilities:    
Accounts payable 2,576.6 1,873.0
Accrued liabilities 380.2 358.6
Interest payable 189.7 311.0
Liabilities from risk management activities 206.9 234.1
Current debt obligations 562.5 770.1
Total current liabilities 3,915.9 3,546.8
Long-term debt 19,282.0 16,662.4
Long-term liabilities from risk management activities 165.8 22.5
Deferred income taxes, net 1,856.7 1,393.5
Other long-term liabilities 414.8 395.0
Contingencies (see Note 13) 0.0 0.0
Targa Resources Corp. stockholders' equity:    
Common Stock ($0.001 par value, 450,000,000 shares authorized as of September 30, 2026 and December 31, 2025) 0.2 0.2
Additional paid-in capital 3,146.7 3,088.1
Retained earnings (deficit) 3,438.5 2,294.4
Accumulated other comprehensive income (loss) (93.2) 113.8
Treasury stock, at cost (29,103,161 shares and 28,108,057 shares as of September 30, 2026 and December 31, 2025) (2,676.5) (2,428.6)
Total Targa Resources Corp. stockholders' equity 3,815.7 3,067.9
Noncontrolling interests 144.9 130.3
Total owners' equity 3,960.6 3,198.2
Total liabilities and owners' equity $ 29,595.8 $ 25,218.4
[1] Assets in the Corporate and Eliminations column primarily include tax-related assets, cash, prepaids and debt issuance costs for our revolving credit facilities.