Note 6 — Property, Plant and Equipment and Intangible Assets

	March 31, 2015									December 31, 2014
	Targa Resources Partners LP			TRC Non- Partnership			Targa Resources Corp. Consolidated			Targa Resources Partners LP			TRC Non- Partnership			Targa Resources Corp. Consolidated			Estimated Useful Lives (In Years)
Gathering systems	$	6,113.8		$	-		$	6,113.8		$	2,588.6		$	-		$	2,588.6		5 to 40
Processing and fractionation facilities		2,924.6			6.6			2,931.2			1,884.1			6.6			1,890.7		5 to 40
Terminaling and storage facilities		1,043.0			-			1,043.0			1,038.9			-			1,038.9		5 to 25
Transportation assets		432.9			-			432.9			359.0			-			359.0		10 to 25
Other property, plant and equipment		219.9			0.2			220.1			149.1			0.2			149.3		3 to 40
Land		101.4			-			101.4			95.6			-			95.6		-
Construction in progress		782.2			-			782.2			399.0			-			399.0		-
Property, plant and equipment		11,617.8			6.8			11,624.6			6,514.3			6.8			6,521.1
Accumulated depreciation		(1,784.9	)		(6.7	)		(1,791.6	)		(1,689.7	)		(6.8	)		(1,696.5	)
Property, plant and equipment, net	$	9,832.9		$	0.1		$	9,833.0		$	4,824.6		$	0.0		$	4,824.6

Intangible assets	$	1,716.6		$	-		$	1,716.6		$	681.8		$	-		$	681.8		20
Accumulated amortization		(114.2	)		-			(114.2	)		(89.9	)		-			(89.9	)
Intangible assets, net	$	1,602.4		$	-		$	1,602.4		$	591.9		$	-		$	591.9

Intangible assets consist of customer contracts and customer relationships acquired in our Atlas mergers and our Badlands business acquisitions. 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 have been recorded at a preliminary value of $1,035.0 million pending completion of final valuations. For the purpose of our preparing the accompanying financial statements (which include one month of amortization of these intangible assets), we have amortized these intangible assets over a 20 year life using a straight-line method. The amortization method and lives for the Atlas mergers intangible assets will be reviewed and possibly revised as we finalize the valuations over the upcoming months.

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. The estimated annual amortization expense for intangible assets, including the provisional Atlas valuation and straight-line treatment is approximately $123.2 million, $140.1 million, $133.3 million, $119.5 million and $108.6 million for each of the years 2015 through 2019.