Related Party Transactions

12 Months Ended

Dec. 31, 2023

Related Party Transactions [Abstract]

Related Party Transactions

Note 16 — Related Party Transactions

Transactions with Unconsolidated Affiliates

The following table summarizes transactions with unconsolidated affiliates:

		GCF				T2 Joint Ventures (1)				Cayenne				GCX (2)				Little Missouri 4				Total
2023:
Revenues	$		—		$		—		$		—		$		—		$		7.1		$		7.1
Product purchases and fuel			—				—				(6.4	)			—				—				(6.4	)
Operating expenses			(4.4	)			—				(0.3	)			—				(2.0	)			(6.7	)
General and administrative expenses			—				—				—				—				(0.9	)			(0.9	)
2022:
Revenues	$		—		$		1.2		$		—		$		—		$		8.5		$		9.7
Product purchases and fuel			—				—				(4.7	)			(25.0	)			—				(29.7	)
Operating expenses			(1.7	)			(0.7	)			(0.3	)			—				(2.6	)			(5.3	)
General and administrative expenses			—				—				—				—				(0.9	)			(0.9	)
2021:
Revenues	$		—		$		4.4		$		—		$		—		$		10.6		$		15.0
Product purchases and fuel			—				—				(4.8	)			(66.5	)			—				(71.3	)
Operating expenses			(1.1	)			(2.3	)			(0.2	)			—				(2.5	)			(6.1	)
General and administrative expenses			—				—				—				—				(0.8	)			(0.8	)

(1)Following the closing of the South Texas Acquisition in April 2022, the T2 Joint Ventures are 100% owned and consolidated by Targa.

(2)Following the closing of the GCX Sale in May 2022, Targa no longer has an ownership interest in GCX.

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 behalf of the Partnership.

The employees supporting the Partnership’s operations are our employees. 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.