Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2021

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 on our Consolidated Balance Sheets at fair value and (2) supplemental fair value disclosures for other financial instruments:

	June 30, 2021
	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	$	83.3	$	83.3	$	—	$	83.3	$	—
Liabilities from commodity derivative contracts		432.5		432.5		—		431.0		1.5
Financial Instruments Recorded on Our    Consolidated Balance Sheets at Carrying Value:
Cash and cash equivalents		209.0		209.0		—		—		—
TRC Revolver		—		—		—		—		—
TRP Revolver		170.0		170.0		—		170.0		—
Partnership's Senior unsecured notes		6,465.7		6,933.3		—		6,933.3		—
Partnership's Securitization Facility		360.0		360.0		—		360.0		—

	December 31, 2020
	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	$	134.8	$	134.8	$	—	$	134.8	$	—
Liabilities from commodity derivative contracts		186.0		186.0		—		185.8		0.2
Financial Instruments Recorded on Our    Consolidated Balance Sheets at Carrying Value:
Cash and cash equivalents		242.8		242.8		—		—		—
TRC Revolver		555.0		555.0		—		555.0		—
TRP Revolver		280.0		280.0		—		280.0		—
Partnership's Senior unsecured notes		6,585.4		7,036.8		—		7,036.8		—
Partnership's Securitization Facility		350.0		350.0		—		350.0		—

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
	Asset/(Liability)
Balance, December 31, 2020	$	(0.2	)
New Level 3 derivative instruments		(0.2	)
Transfers out of Level 3 (1)		0.2
Unrealized gain/(loss) included in OCI		(1.3	)
Balance, June 30, 2021	$	(1.5	)

(1) Transfers relate to long-term over-the-counter swaps for NGL products for which observable market prices became available for substantially their full term.