CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 141.7	$ 219.0
Trade receivables, net of allowances of $2.5 million and $2.2 million at December 31, 2023 and December 31, 2022	1,471.0	1,408.4
Inventories	371.5	393.8
Assets from risk management activities	111.9	179.9
Other current assets	98.5	155.5
Total current assets	2,194.6	2,356.6
Property, plant and equipment, net	15,806.4	14,214.6
Intangible assets, net	2,350.6	2,734.6
Long-term assets from risk management activities	33.3	24.5
Investments in unconsolidated affiliates	146.3	131.3
Other long-term assets	140.6	98.4
Total assets	20,671.8	19,560.0
Current liabilities:
Accounts payable	1,574.9	1,448.8
Accrued liabilities	281.7	289.5
Interest payable	229.6	174.0
Liabilities from risk management activities	54.0	320.1
Current debt obligations	620.7	834.3
Total current liabilities	2,760.9	3,066.7
Long-term debt	12,333.2	10,702.1
Long-term liabilities from risk management activities	16.8	140.1
Deferred income taxes, net	535.8	327.7
Other long-term liabilities	415.1	341.2
Commitments and Contingencies (see Notes 17 and 18)	0.0	0.0
Targa Resources Corp. stockholders' equity:
Total Liabilities	16061.8	14577.8	0	0	0
Common stock ($0.001 par value, 450,000,000 shares authorized as of December 31, 2023 and December 31, 2022)	0.2	0.2
Preferred stock ($0.001 par value, after designation of Series A Preferred Stock: 98,800,000 shares authorized, zero shares issued and outstanding)	0.0	0.0
Additional paid-in capital	3,058.8	3,702.3
Retained earnings (deficit)	492.0	(626.8)
Accumulated other comprehensive income (loss)	85.6	54.7
Treasury stock, at cost (17,484,440 shares as of December 31, 2023 and 11,896,829 shares as of December 31, 2022)	(896.9)	(464.7)
Total Targa Resources Corp. stockholders' equity	2,739.7	2,665.7
Noncontrolling interests	1,870.3	2,316.5
Total owners' equity	4,610.0	4,982.2
Total liabilities, Series A Preferred Stock and owners' equity	20,671.8	19,560.0
Series A Preferred Stock [Member]
Current liabilities:
Series A Preferred 9.5% Stock, $1,000 per share liquidation preference (1,200,000 shares authorized, zero shares issued and outstanding as of December 31, 2023 and December 31, 2022), net of discount	$ 0.0	$ 0.0

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- Definition

Fair value, before the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, expected to be settled within one year or normal operating cycle, if longer.

+ References

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