TRGP · 10-Q · 2026Q2 · Full report

Operating Expense Trends

Targa Resources Corp. · 2026-08-06 · Importance 48 · Surprise 40 · No source text

Six-month operating expenses increased $60.6 million, or 10%, to $687.8 million, while second-quarter operating expenses increased $30.5 million, or 9%, to $354.1 million. Gathering and Processing six-month operating expenses rose $46.9 million to $474.5 million because of higher volumes from plant additions and Permian asset acquisitions. Logistics and Transportation six-month operating expenses increased $13.6 million to $214.5 million, primarily because of higher compensation and benefits associated with system expansions. Consolidated general and administrative expense increased $26.4 million, or 14%, to $215.9 million due primarily to higher compensation and benefits.

Key facts

• Estimated annual amortization expense for intangible assets: $410.3m (2026), $377.2m (2027), $327.2m (2028), $286.8m (2029), $241.2m (2030) source
• Change in deadstock commodity inventory was $11.3 million for the six months ended June 30, 2026 and $(3.8) million for the six months ended June 30, 2025. source
• Depreciation expense for three and six months ended June 30, 2026: $351.1 million and $673.9 million, respectively (compared to $292.2 million and $578.3 million in 2025) source
• Three months ended June 30, 2026 Operating expenses: $354.1 million source
• Six months ended June 30, 2026 Depreciation and amortization expense: $879.1 million source
• Product purchases and fuel for three months ended June 30, 2026: $2,302.0 million source
• Depreciation and amortization expense for three months ended June 30, 2026: $453.1 million source
• Change in ARO liability and property, plant and equipment, net due to additions and revised cash flow estimates was $10.8 million for the six months ended June 30, 2026. source

Impact estimates