C008892 2021-01-01 2021-12-31 xbrli:pure C008892 ScheduleCompaniesControlledByRespondentAbstract 2021-01-01 2021-12-31 C008892 ScheduleStatementOfAccumulatedOtherComprehensiveIncomeAndHedgingActivitiesAbstract 2021-01-01 2021-12-31 C008892 ScheduleAppropriatedRetainedIncomeAbstract 2021-01-01 2021-12-31 C008892 ScheduleInvestmentsInAffiliatedCompaniesAbstract 2021-01-01 2021-12-31 C008892 ScheduleInvestmentsInCommonStocksOfAffiliatedCompaniesAbstract 2021-01-01 2021-12-31 C008892 ScheduleInvestInComStocksOfAffiliatedCoCoControlledDirectlyByRespOtherThanThroughTitleToSecuritiesAbstract 2021-01-01 2021-12-31 C008892 ScheduleUndividedJointInterestPropertyAbstract 2021-01-01 2021-12-31 C008892 ScheduleAccruedDepreciationUndividedJointInterestPropertyAbstract 2021-01-01 2021-12-31 C008892 ScheduleAmortizationBaseAndReserveAbstract 2021-01-01 2021-12-31 C008892 ScheduleNoncarrierPropertyAbstract 2021-01-01 2021-12-31 C008892 ScheduleOtherDeferredChargesAbstract 2021-01-01 2021-12-31 C008892 ScheduleLongTermDebtAbstract 2021-01-01 2021-12-31 C008892 ScheduleCapitalStockAbstract 2021-01-01 2021-12-31 C008892 ScheduleCapitalStockChangesDuringTheYearAbstract 2021-01-01 2021-12-31 C008892 ScheduleIncomeFromNoncarrierPropertyAbstract 2021-01-01 2021-12-31 C008892 ScheduleInterestAndDividendIncomeAbstract 2021-01-01 2021-12-31 C008892 SchedulePaymentsForServicesRenderedByOtherThanEmployeesAbstract 2021-01-01 2021-12-31 C008892 ScheduleStatisticsOfOperationsOwnedByRespondentButOperatedByOthersAbstract 2021-01-01 2021-12-31 C008892 ScheduleFootnotesAbstract 2021-01-01 2021-12-31 C008892 Targa Downstream LLC 2021-01-01 2021-12-31 C008892 BCP Grand Prix LLC 2021-01-01 2021-12-31 C008892 Grand Prix Developement 2021-01-01 2021-12-31 C008892 Targa Downstream LLC 2021-12-31 C008892 BCP Grand Prix LLC 2021-12-31 C008892 Grand Prix Developement 2021-12-31 C008892 Chief Executive Officer, Matthew J. Meloy 2021-01-01 2021-12-31 C008892 Chief Financial Officer, Jennifer R. Kneale 2021-01-01 2021-12-31 C008892 Chief Accounting Officer, Julie H. Boushka 2021-01-01 2021-12-31 C008892 Chief Commercial Officer, Robert M. Muraro 2021-01-01 2021-12-31 C008892 President - Gathering and Processing, Patrick J. McDonie 2021-01-01 2021-12-31 C008892 President - Logistics and Transportation, D. Scott Pryor 2021-01-01 2021-12-31 C008892 Executive Vice President - General Counsel, Regina L. Gregory 2021-01-01 2021-12-31 C008892 Executive Vice President - Operations, G. Clark White 2021-01-01 2021-12-31 C008892 Matt Meloy - Director 2021-01-01 2021-12-31 C008892 Scott Pryor - Director 2021-01-01 2021-12-31 C008892 Clark White - Director 2021-01-01 2021-12-31 C008892 Bill Grantham - Director 2021-01-01 2021-12-31 C008892 David Foley - Director 2021-01-01 2021-12-31 C008892 2021-12-31 iso4217:USD C008892 2020-12-31 C008892 2020-01-01 2020-12-31 C008892 Other Appropriations (Specify) ferc:OtherAppropriationsMember 2021-01-01 2021-12-31 C008892 2019-12-31 C008892 ARO Accretion 2021-01-01 2021-12-31 C008892 Lease Accretion 2021-01-01 2021-12-31 C008892 ARO Accretion 2020-01-01 2020-12-31 C008892 Tax for Cont Operations 2021-01-01 2021-12-31 C008892 Other: 2021-01-01 2021-12-31 C008892 Lease Accretion 2021-01-01 2021-12-31 C008892 Lease WC 2021-01-01 2021-12-31 C008892 Abandonments 2021-01-01 2021-12-31 C008892 Lease Accretion 2020-01-01 2020-12-31 C008892 Lease WC 2020-01-01 2020-12-31 C008892 Other: 2021-01-01 2021-12-31 C008892 Other: 2021-01-01 2021-12-31 C008892 Other: 2021-01-01 2021-12-31 C008892 Contribution from Members 2021-01-01 2021-12-31 C008892 Contribution from Members 2020-01-01 2020-12-31 C008892 Other: 2021-01-01 2021-12-31 C008892 Leases 2021-01-01 2021-12-31 C008892 Leases 2020-01-01 2020-12-31 C008892 Targa Liquid Marketing and Trade, 2021-01-01 2021-12-31 C008892 Targa NGL Pipeline, 2021-01-01 2021-12-31 C008892 Minor, 2021-01-01 2021-12-31 C008892 0, 2021-01-01 2021-12-31 C008892 Targa Liquid Marketing and Trade, 2021-12-31 C008892 Targa NGL Pipeline, 2021-12-31 C008892 Minor, 2021-12-31 C008892 , 2021-01-01 2021-12-31 C008892 0 2021-01-01 2021-12-31 C008892 Targa Resources LLC 2021-01-01 2021-12-31 C008892 Minor 2021-01-01 2021-12-31 C008892 0 2021-01-01 2021-12-31 C008892 Targa Resources LLC 2021-12-31 C008892 Minor 2021-12-31 C008892 Defered Income Tax Assets/Liabilities: 2021-01-01 2021-12-31 C008892 Federal 2021-01-01 2021-12-31 C008892 State (Texas) 2021-01-01 2021-12-31 C008892 Other (Specify) 2021-01-01 2021-12-31 C008892 Accumulated Defered Income Tax Assets/Liabilities: 2021-01-01 2021-12-31 C008892 Federal 2020-12-31 C008892 State (Texas) 2020-12-31 C008892 Federal 2021-12-31 C008892 State (Texas) 2021-12-31 C008892 Targa Downstream LLC 2021-01-01 2021-12-31 C008892 Grand Prix Development LLC 2021-01-01 2021-12-31 C008892 BCP Grand Prix LLC 2021-01-01 2021-12-31 C008892 Equity Rebalancing Due to Distributions 2021-01-01 2021-12-31 C008892 Targa Downstream LLC 2021-01-01 2021-12-31 C008892 Grand Prix Development LLC 2021-01-01 2021-12-31 C008892 BCP Grand Prix LLC 2021-01-01 2021-12-31 C008892 ferc:OilProductsMember 2020-01-01 2020-12-31 C008892 ferc:OilProductsMember 2021-01-01 2021-12-31 C008892 ferc:InterstateTransportationMember 2020-01-01 2020-12-31 C008892 ferc:InterstateTransportationMember 2021-01-01 2021-12-31 C008892 ferc:IntrastateTransportationMember 2020-01-01 2020-12-31 C008892 ferc:IntrastateTransportationMember 2021-01-01 2021-12-31 C008892 Alabama 2021-01-01 2021-12-31 C008892 Alaska 2021-01-01 2021-12-31 C008892 Arizona 2021-01-01 2021-12-31 C008892 Arkansas 2021-01-01 2021-12-31 C008892 California 2021-01-01 2021-12-31 C008892 Colorado 2021-01-01 2021-12-31 C008892 Connecticut 2021-01-01 2021-12-31 C008892 Delaware 2021-01-01 2021-12-31 C008892 Florida 2021-01-01 2021-12-31 C008892 Georgia 2021-01-01 2021-12-31 C008892 Hawaii 2021-01-01 2021-12-31 C008892 Idaho 2021-01-01 2021-12-31 C008892 Illinois 2021-01-01 2021-12-31 C008892 Indiana 2021-01-01 2021-12-31 C008892 Iowa 2021-01-01 2021-12-31 C008892 Kansas 2021-01-01 2021-12-31 C008892 Kentucky 2021-01-01 2021-12-31 C008892 Louisiana 2021-01-01 2021-12-31 C008892 Maine 2021-01-01 2021-12-31 C008892 Maryland 2021-01-01 2021-12-31 C008892 Massachusetts 2021-01-01 2021-12-31 C008892 Michigan 2021-01-01 2021-12-31 C008892 Minnesota 2021-01-01 2021-12-31 C008892 Mississippi 2021-01-01 2021-12-31 C008892 Missouri 2021-01-01 2021-12-31 C008892 Montana 2021-01-01 2021-12-31 C008892 Nebraska 2021-01-01 2021-12-31 C008892 Nevada 2021-01-01 2021-12-31 C008892 New Hampshire 2021-01-01 2021-12-31 C008892 New Jersey 2021-01-01 2021-12-31 C008892 New Mexico 2021-01-01 2021-12-31 C008892 New York 2021-01-01 2021-12-31 C008892 North Carolina 2021-01-01 2021-12-31 C008892 North Dakota 2021-01-01 2021-12-31 C008892 Ohio 2021-01-01 2021-12-31 C008892 Oklahoma 2021-01-01 2021-12-31 C008892 Oregon 2021-01-01 2021-12-31 C008892 Pennsylvania 2021-01-01 2021-12-31 C008892 Rhode Island 2021-01-01 2021-12-31 C008892 South Carolina 2021-01-01 2021-12-31 C008892 South Dakota 2021-01-01 2021-12-31 C008892 Tennessee 2021-01-01 2021-12-31 C008892 Texas 2021-01-01 2021-12-31 C008892 Utah 2021-01-01 2021-12-31 C008892 Vermont 2021-01-01 2021-12-31 C008892 Virginia 2021-01-01 2021-12-31 C008892 Washington 2021-01-01 2021-12-31 C008892 West Virginia 2021-01-01 2021-12-31 C008892 Wisconsin 2021-01-01 2021-12-31 C008892 Wyoming 2021-01-01 2021-12-31 C008892 District of Columbia 2021-01-01 2021-12-31 C008892 Other (Specify): 2021-01-01 2021-12-31 C008892 Interest on Bank Deposits 2021-01-01 2021-12-31 C008892 Settlement of Intercompany Payables 2021-01-01 2021-12-31 C008892 Equity Rebalancing Due to Distributions 2021-01-01 2021-12-31 C008892 ferc:WhollyOwnedAndOperatedByRespondentMember (A) - Grand Prix Pipeline LLC, TX, Sendero, TX/NM Border 2021-01-01 2021-12-31 C008892 ferc:WhollyOwnedAndOperatedByRespondentMember (A) - Grand Prix Pipeline LLC, TX, TX/NM Border, Driver/Johnson 2021-01-01 2021-12-31 C008892 (A) - Grand Prix Pipeline LLC, TX, Sendero, TX/NM Border 2021-01-01 2021-12-31 C008892 (A) - Grand Prix Pipeline LLC, TX, TX/NM Border, Driver/Johnson 2021-01-01 2021-12-31 C008892 ferc:WhollyOwnedAndOperatedByRespondentMember (A) - Grand Prix Pipeline LLC, TX, Driver/Johnson, Junction PS8 2021-01-01 2021-12-31 C008892 (A) - Grand Prix Pipeline LLC, TX, Driver/Johnson, Junction PS8 2021-01-01 2021-12-31 C008892 ferc:WhollyOwnedAndOperatedByRespondentMember (A) - Grand Prix Pipeline LLC, TX, Junction PS8, Mt Belvieu 2021-01-01 2021-12-31 C008892 (A) - Grand Prix Pipeline LLC, TX, Junction PS8, Mt Belvieu 2021-01-01 2021-12-31 utr:mi utr:in C008892 ferc:WhollyOwnedAndOperatedByRespondentMember 2021-01-01 2021-12-31 utr:bbl C008892 ferc:OilProductsTrunkMember 2021-01-01 2021-12-31 C008892 New Mexico, Various ferc:OilProductsMember 2021-01-01 2021-12-31 C008892 Texas, Various ferc:OilProductsMember 2021-01-01 2021-12-31 C008892 New Mexico, Various 2021-01-01 2021-12-31 C008892 Texas, Various 2021-01-01 2021-12-31 C008892 Oklahoma, Various ferc:OilProductsMember 2021-01-01 2021-12-31 C008892 Oklahoma, Various 2021-01-01 2021-12-31 Grand Prix Pipeline LLC Grand Prix Pipeline LLC 2017-08-31 Grand Prix Pipeline LLC Grand Prix Pipeline LLC Delaware N/A N/A N/A N/A <div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:112%">Company Business</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Grand Prix Pipeline LLC (“Grand Prix JV” or the “Company”) is a limited liability company formed in August 2017 to design, construct and own a natural gas liquids (“NGL”) 0pipeline (the “Pipeline”) to transport NGL volumes from the Permian Basin to the NGL market hub at Mont Belvieu, Texas. In this report, unless the context requires otherwise, references to “we,” “us,” “our” or “the Company” are intended to mean our business and operations.</span></div><div style="text-align:justify;text-indent:6pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The Company was a wholly-owned subsidiary of Targa Downstream LLC (“Targa” or “Targa Downstream LLC” or “Managing Member” or “Operator”) prior to September 6, 2017 when BCP Grand Prix LLC (“Blackstone”) purchased a 25% interest in Grand Prix JV from Targa for $60.0 million. Targa contributed and assigned certain assets and agreements to Grand Prix JV, which included work- in-process property, plant and equipment, rights of way, permits and certain engineering, construction and logistics agreements. The Company treated Targa’s initial asset contribution as a common control transaction and recorded the contribution based on Targa historical amounts.</span></div><div style="text-align:justify;text-indent:6pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Concurrent with the purchase by Blackstone of its interest in Grand Prix JV from Targa, Targa Liquids Marketing and Trade LLC (“TLMT”) (an affiliate of Targa) and EagleClaw Midstream Ventures, LLC ("EagleClaw"), a Blackstone portfolio company, executed a long-term Raw Product Purchase Agreement (“RPP Agreement”) whereby EagleClaw dedicated and committed significant NGLs associated with EagleClaw's natural gas volumes produced or processed in the Delaware Basin to TLMT. The RPP Agreement is effective through June 30, 2034, at which date the agreement shall continue for successive twelve-month periods until written notice of at least 270 days is provided by either party.</span></div><div style="text-align:justify;text-indent:6pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In February 2018, Targa formed three development joint ventures (collectively, the “DevCo JVs”) with investment vehicles affiliated with Stonepeak Infrastructure Partners (“Stonepeak”). Grand Prix Development LLC (or “Grand Prix DevCo”) was formed to fund portions of Grand Prix JV, while the two other DevCo JVs were formed to fund two other Targa capital projects. We refer to the three projects collectively as the “DevCo Projects.”</span></div><div style="text-align:justify;text-indent:6pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">For a four-year period beginning on the date that all three of the DevCo Projects commenced commercial operations (the “Lock-Up Period”), Targa has the option to acquire all or part of Stonepeak’s interests in the DevCo JVs (the “Call Right Option”). Targa may acquire up to 50% of Stonepeak’s invested capital in multiple increments with a minimum of $100 million, and would be required to buy Stonepeak’s remaining 50% interest in a single final purchase. The acquisition of interest must be made in equal proportional installments for each of the three DevCo JVs. The purchase price payable for such partial or full interests would be based on a predetermined fixed return or multiple on invested capital, including distributions received by Stonepeak from the DevCo JVs. All of the DevCo Projects commenced commercial operations during 2019.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">On February 2, 2018, Targa transferred and assigned 20% of its interest in Grand Prix JV to Grand Prix DevCo in exchange for 5% ownership of Grand Prix DevCo and Stonepeak contributed $97.9 million in exchange for 95% ownership of Grand Prix DevCo.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">After the formation of Grand Prix DevCo, Grand Prix JV is owned 55% by Targa, 20% by Grand Prix DevCo and 25% by Blackstone, collectively the “Members.”</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Targa is the operator and was the construction manager of the Pipeline. TLMT is a committed shipper for 95% of the intrastate capacity on the Pipeline. The Pipeline is supported primarily by TLMT and EagleClaw NGL volume commitments. Construction was completed and the Pipeline began operations in the third quarter of 2019. A portion of the Pipeline within the Permian Basin was operational starting in April 2018.</span></div><div style="text-align:justify;text-indent:6pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Along with the Pipeline owned by Grand Prix JV, Targa’s affiliate, Targa NGL Pipeline Company LLC (“Targa NGL”), owns two additional segments. The Grand Prix JV pipeline along with the two additional Targa NGL segments are referred to as the “Targa Grand Prix Project” in this report.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In its entirety, the primary segments of the Targa Grand Prix Project are:</span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">•</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:14.5pt">A 24-inch diameter pipeline segment with a length of approximately 560 miles from the Permian Basin to North Texas. The capacity of this pipeline segment from the Permian Basin is expandable to 550 thousand barrels per day (“MBbl/d”), with the addition of pump stations along the pipeline. This segment is part of Grand Prix JV.</span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:122%">•</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:122%;padding-left:14.5pt">A pipeline segment from North Texas into southern Oklahoma. This segment is not part of Grand Prix JV.</span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">•</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:14.5pt">The three segments listed above connect to a 30-inch diameter pipeline segment with a length of approximately 275 miles from North Texas to Mont Belvieu (the “Mont Belvieu Segment”). The Mont Belvieu Segment transports Permian, North Texas and Oklahoma volumes to Mont Belvieu, and has a capacity expandable to 950 MBbl/d, with the addition of pump stations along the pipeline. The volumes flowing through the Mont Belvieu Segment that originate from the Permian Basin are part of Grand Prix JV. Volumes originating from Oklahoma and North Texas flowing through the Mont Belvieu Segment are solely for Targa’s benefit and not part of Grand Prix JV.</span></div><div><span><br/></span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:112%">Distributions</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In accordance with the terms of the GP LLC Agreement, to the extent that available cash, distributed as described below, exceeds a member’s proportional share of the total distributions based on the ownership percentage (“Excess Distribution Amount”), that member’s capital account shall be allocated income equal to the Excess Distribution Amount.</span></div><div style="text-align:justify;text-indent:5.95pt"><span><br/></span></div><div><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The GP LLC Agreement specifically provides for the calculation and allocation of distributions to Targa and Blackstone dependent upon the nature of the NGL volumes shipped, including:</span></div><div style="text-indent:6pt"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">•</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:14.5pt">NGL volumes originating in the Permian Basin and traveling to the final destination point of the pipeline of Mont Belvieu, Texas (“Permian Shipments”). Distributions associated with Permian Shipments will be split between Targa, Grand Prix DevCo and Blackstone in accordance with the GP LLC Agreement and the DevCo LLC Agreement;</span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">•</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:14.5pt">NGL volumes shipped by Targa and its affiliates utilizing unused capacity on the Pipeline that do not travel to the final destination of Mont Belvieu (“ShortHaul Shipments”). Distributions associated with ShortHaul Shipments will be split between Targa, Grand Prix DevCo and Blackstone with pricing terms in accordance with the GP LLC Agreement and DevCo LLC Agreement; and,</span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">•</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:14.5pt">NGL volumes shipped by Targa and its affiliates using the unused capacity on a second priority and fully interruptible basis on the Mont Belvieu Segment generated by any extension of the Pipeline into areas outside the Permian Basin constructed at Targa’s sole expense, or utilizing capacity on the Mont Belvieu Segment in excess of 550 MBbl/d. All proceeds associated with these volumes will be distributed 100% to Targa.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">All other available cash, less the amount of the cash reserves (as recommended by the Operator and approved by the Management Committee), will be distributed on a quarterly basis to Targa, Grand Prix DevCo and Blackstone in accordance with their percentage interests. In the event the Call Right Option is fully exercised and the multiple on invested capital requirement is met, the distribution to Grand Prix DevCo would cease.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">All actions proposed to be taken by or on behalf of the Company or any of its subsidiaries and all actions that pursuant to the LLC Agreement require action by, the approval of, or a determination by the Management Committee, shall require a majority vote or consent of the managers. Certain actions, including those identified in the LLC Agreement that are proposed to be taken by or on behalf of the Company or any of its subsidiaries shall require a 90%, or “super majority” vote or consent of the managers.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:112%">Basis of Presentation</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The financial statements and supporting schedules were prepared in accordance with the Uniform System of Accounts as prescribed by the Federal Energy Regulatory Commission (“FERC”). The FERC-approved tariff establishes rates, terms and conditions under which the Company provides services to its customers. The Uniform System of Accounts is a comprehensive basis of accounting other than accounting principles generally accepted in the United States of America (“GAAP”). Financial accounting and reporting differences between FERC and GAAP are principally related to account classifications such as but not limited to: Plant held for sale is a current asset for GAAP and is included in gas plant for FERC; </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">costs incurred and revenues collected for future plant retirement costs are classified as a regulatory liability for GAAP and as accumulated provision for depreciation for FERC; and deferred tax assets and liabilities are presented as gross assets and liabilities for FERC purposes, but are netted for GAAP. </span></div><div><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:112%">Income Taxes</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Income taxes are recorded in accordance with the FERC Policy Statement on Income Tax Allowances permitting the accrual of income taxes on a pass-through entity. Deferred income taxes are recognized for differences between the financial reporting and tax bases of assets and liabilities at enacted statutory tax rates in effect for the years in which the differences are expected to reverse. Actual income taxes could vary from these estimates due to future changes in income tax law or results from the final review of tax returns by federal or state authorities. </span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The Company is organized as a limited liability company and is treated as a partnership for U.S. federal and state income tax purposes. As such, the Company is generally not subject to federal or state income taxes. All revenues and expenses of the Company are reportable in the federal and state income tax returns of its Members.</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">FERC allows adjustments to the financial statements for allowable income taxes. The below table describes the state and federal income tax provision at December 31, 2021 and the related effective tax rate.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:71.816%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:25.984%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">TOTAL PROVISION</span></td><td colspan="3" style="padding:0 1pt"/></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Increment to State Deferred Income Tax</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">521,271 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Increment to Federal Deferred Income Tax</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">39,510,696 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Current Provision/(Benefit) - State</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,015,135 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Current Provision/(Benefit) - Federal</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">11,295,290 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Total 2021 Provision/(benefit)</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">53,342,392</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Effective Tax Rate</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">21.82</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">%</span></td></tr></table></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:112%">Property, Plant and Equipment </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Property, plant and equipment as of December 31, 2021 and December 31, 2020, consists of pipeline assets, rights of way and construction in progress for the Pipeline. </span></div><div><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:92.857%"><tr><td style="width:1.0%"/><td style="width:46.175%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:19.092%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.451%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.882%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">December 31, 2021</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">December 31, 2020</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;text-indent:1.6pt;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:112%;text-decoration:underline">Useful Life</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;text-indent:3.55pt;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pipeline</span></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="padding:2px 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,378,189,879 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td style="padding:2px 0 2px 1pt;text-align:left;text-indent:3.25pt;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="padding:2px 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,362,869,117 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="3" style="padding:2px 1pt;text-align:center;text-indent:1.6pt;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> 20 - 25 </span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;text-indent:3.6pt;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Rights of Way</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">243,533,723 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">235,786,238 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="3" style="padding:2px 1pt;text-align:center;text-indent:1.6pt;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> 20 - 25 </span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;text-indent:3.6pt;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other Property, Plant and Equipment</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,058,772 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">12,981,026 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="3" style="padding:2px 1pt;text-align:center;text-indent:1.6pt;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> 20 - 25 </span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;text-indent:3.6pt;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Construction in Progress</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">40,935,087 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">39,069,588 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">—</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;text-indent:3.6pt;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:88%">Finance Lease, Right-of-use Assets</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:88%">1,865,128 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:88%">1,614,467 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:88%">—</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;text-indent:22.5pt;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Property, Plant and Equipment</span></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:112%">1,666,582,588</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> </span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:112%">1,652,320,436</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> </span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;text-indent:22.5pt;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:88%">Accumulated Depreciation</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:88%">(172,405,356)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:88%">(107,552,194)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;text-indent:41.4pt;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:89%">Property, Plant and Equipment, net</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:89%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:89%">1,494,177,232</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:89%"> </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td style="border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;text-indent:3.3pt;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:89%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:89%">1,544,768,241</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:89%"> </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="3" style="padding:0 1pt"/></tr></table></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">For the years ended December 31, 2021 and December 31, 2020, depreciation expense was $64.9 million and $64.7 million.</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:112%">Asset Retirement Obligations</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Our ARO primarily relates to our pipeline assets. </span><span style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The changes in our ARO are as follows:</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:80.803%"><tr><td style="width:1.0%"/><td style="width:53.227%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:22.104%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:21.369%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">December 31, 2021</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">December 31, 2020</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;text-indent:3.55pt;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Beginning Period</span></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="padding:2px 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">9,750,144 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td style="padding:2px 0 2px 1pt;text-align:left;text-indent:3.25pt;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</span></td><td style="padding:2px 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6,003,349 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;text-indent:3.6pt;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additions</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3,192,758 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;text-indent:3.6pt;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Adjustment</span></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">$</span></td><td style="padding:2px 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">469,957</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">$</span></td><td style="padding:2px 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">554,037</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;text-indent:3.6pt;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">End of Period</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">10,220,101</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">9,750,144</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/></tr></table></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:112%">Members’ Interest</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">On September 6, 2017, (i) Targa made an initial asset contribution to Grand Prix JV of $92.3 million, which represented all of Targa’s rights in and to various assets, contracts and other rights relating to Grand Prix JV developed or acquired by Targa prior to the effective date of the GP LLC Agreement, (ii) Blackstone made an initial cash contribution to Grand Prix JV of $60.0 million, and (iii) an amount equal to Blackstone’s initial cash contribution was distributed to Targa as a partial reimbursement of pre-formation expenditures. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-style:italic;font-weight:700;line-height:112%">Grand Prix DevCo</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In February 2018, Grand Prix DevCo was formed to fund a 20% interest in Grand Prix JV. As of December 31, 2021, Stonepeak owned a 95% interest in Grand Prix DevCo and Targa held the remaining 5% interest. Stonepeak committed a maximum of approximately $312 million of capital to Grand Prix DevCo. Following the DevCo Repurchase in January 2022, Targa indirectly owns a 75% interest in the Grand Prix JV.</span></div> C008892 6 2021 Q4 N/A 811 Lousiana Street, Suite 2100, Houston, Texas 77002 Nick Deimling Property Accounting Manager 811 Lousiana Street, Suite 2100, Houston, Texas 77002 713-584-1967 O 2022-04-18 Julie Boushka Chief Accounting Officer Julie Boushka 2022-04-15 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A Not Prepared Targa Downstream LLC BCP Grand Prix LLC 1 2 Grand Prix Developement 3 DE DE DE 0.55 0.25 0.20 Chief Executive Officer Chief Financial Officer 1 2 Chief Accounting Officer 3 Chief Commercial Officer 4 President - Gathering and Processing 5 President - Logistics and Transportation 6 Executive Vice President - General Counsel 7 Executive Vice President - Operations 8 Matthew J. Meloy Jennifer R. Kneale Julie H. Boushka Robert M. Muraro Patrick J. McDonie D. Scott Pryor Regina L. Gregory G. Clark White 811 Louisiana Suite 2100 Houston, TX 77002 Matt Meloy - Director Scott Pryor - Director 1 2 Clark White - Director 3 Bill Grantham - Director 4 David Foley - Director 5 811 Louisiana Suite 2100 Houston, TX 77002 16607313 77374542 40957064 32737195 2615000 3158000 1569213 136000 61748590 113405737 1666582588 1652320436 172405356 107552194 1494177232 1544768242 1494177232 1544768242 1555925822 1658173979 36673644 21296091 1856000 7413936 40958673 90584992 11753774 10397413 519226 10896000 91761317 140588432 570269 745391 86223437 46191470 10220101 9750144 97013807 56687005 188775124 197275437 1367150698 1265803150 195095392 1367150698 1460898542 1555925822 1658173979 444671701 317006484 129400056 118200073 315271645 198806411 41214 -5157 -21380 -19834 5157 315251811 198811568 13310424 7123067 40031967 36003605 261909420 155684896 261909420 155684896 261909420 155684896 Other Appropriations (Specify) 195095392 39920750 261909420 155684896 -510254 27689736 289599156 155174642 484694548 484694548 -195095392 155174642 195095392 195095392 261909420 155684896 64894492 64773641 ARO Accretion Lease Accretion 6 7 469957 7705789 40031967 36003605 Tax for Cont Operations 9 -20746858 9309395 5044006 49805716 Other: Lease Accretion 14 15 Lease WC 16 Abandonments 17 62691 -40420 9135 50168 -50047 393128105 304664373 20549290 64320951 Other: 20549290 64320951 -22157 Other: -20527133 -64320951 Other: Contribution from Members 63 64 23517703 85861695 Other: 23517703 85861695 Leases 395283 353770 456490621 276877720 -433368202 -191369795 -60767229 48973627 77374542 28400915 16607313 77374542 Targa Liquid Marketing and Trade Targa NGL Pipeline 1 2 Minor 3 0 4 0 0 0 0 0 0 0 0 0 32009112 8734540 213412 40957064 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 235786238 411604 411604 7335881 7747485 243533723 1362869307 6787212 6787212 -212637160 -205849948 1157019359 12708172 12708172 12708172 -1835988 -253990 -253990 96802530 96548540 94712552 2058772 2058772 900815 900815 103974913 104875728 104875728 424147 635951 635951 -1060098 -424147 0 304938 304938 1560190 1865128 1865128 5074307 -4861802 -4861802 -212505 -5074307 0 8874068 -1 -1 8874067 1613250851 3924728 3924728 8471922 12396650 1625647501 39069585 18475642 -7891614 10584028 -8718526 1865502 40935087 39069585 18475642 -7891614 10584028 -8718526 1865502 40935087 1652320436 18475642 -3966886 14508756 -246604 14262152 1666582588 0 15682294 9735287 82594 25500175 90219230 48109181 44004 138372415 465076 465076 3540692 3540692 85782 102939 188721 2573522 -82594 2490928 637976 138703 -85334 691345 216987 216987 709925 229092 939017 107552194 64894492 -41330 172405356 107552194 64894492 -41330 172405356 0 Targa Resources LLC Minor 1 2 0 3 0 0 0 0 0 0 0 0 0 0 36604206 69438 36673644 Defered Income Tax Assets/Liabilities: Federal 1 2 State (Texas) 3 Other (Specify) 6 Accumulated Defered Income Tax Assets/Liabilities: 11 Federal State (Texas) Other (Specify) 45271058 920412 39510696 521271 84781754 1441683 46191470 40031967 86223437 1265803150 Targa Downstream LLC Grand Prix Development LLC 3 4 BCP Grand Prix LLC 5 Equity Rebalancing Due to Distributions 7 16914000 3830000 2774000 484694548 508212548 Targa Downstream LLC Grand Prix Development LLC 13 14 BCP Grand Prix LLC 15 284295000 54476000 68094000 406865000 1367150698 317006484 421901874 317006484 421901874 22769827 22769827 317006484 444671701 317006484 444671701 11006251 56498992 306000233 365402882 317006484 421901874 11006251 56498992 306000233 365402882 317006484 421901874 Alabama Alaska 1 2 Arizona 3 Arkansas 4 California 5 Colorado 6 Connecticut 7 Delaware 8 Florida 9 Georgia 10 Hawaii 11 Idaho 12 Illinois 13 Indiana 14 Iowa 15 Kansas 16 Kentucky 17 Louisiana 18 Maine 19 Maryland 20 Massachusetts 21 Michigan 22 Minnesota 23 Mississippi 24 Missouri 25 Montana 26 Nebraska 27 Nevada 28 New Hampshire 29 New Jersey 30 New Mexico 31 New York 32 North Carolina 33 North Dakota 34 Ohio 35 Oklahoma 36 Oregon 37 Pennsylvania 38 Rhode Island 39 South Carolina 40 South Dakota 41 Tennessee 42 Texas 43 Utah 44 Vermont 45 Virginia 46 Washington 47 West Virginia 48 Wisconsin 49 Wyoming 50 District of Columbia 51 Other (Specify): 52 378980 11391390 11770370 11770370 660 Interest on Bank Deposits 21380 -21380 710 Settlement of Intercompany Payables 27689736 27689736 720 Equity Rebalancing Due to Distributions 484694548 484694548 Grand Prix Pipeline LLC, TX Grand Prix Pipeline LLC, TX 1 2 Grand Prix Pipeline LLC, TX 3 Grand Prix Pipeline LLC, TX 4 Sendero TX/NM Border Driver/Johnson Junction PS8 TX/NM Border Driver/Johnson Junction PS8 Mt Belvieu 29 205 228 276 24 24 24 30 738 738 64505564 53395603 64894492 64478144 412889 378920 1503470708 1554615881 1503470708 1554615881 0.5367 0.5600 0.4633 0.4400 0.0523 0.0528 0.1400 0.0152 0.0929 0.0363 42204279 45966882 97518117 10397271 139722396 56364153 27217259 2879796 0.2182 0.2169 296749857 242301088 444671701 317006484 19399998 105621824 7494630540 70553386472 421901874 421901874 22769827 22769827 444671701 444671701 19133342 19133342 19133342 7660978 7660978 7660978 8781650 8781650 8781650 3937611 3937611 3937611 484066 484066 484066 1592187 1592187 1592187 41589834 41589834 41589834 73 73 73 482994 482994 482994 1926557 1926557 1926557 421811 421811 421811 64665400 64665400 64665400 229092 229092 229092 2069138 2069138 2069138 4781995 4781995 4781995 11770370 11770370 11770370 992836 992836 992836 469957 469957 469957 87810222 87810222 87810222 129400056 129400056 129400056 New Mexico Texas 16 17 Oklahoma 18 Various Various Various 125467994 4664430 14735568 125467994 4664430 14735568 125467994 4664430 14735568 125467994 4664430 14735568 144867992 144867992 144867992 144867992 144867992 144867992 144867992 144867992 97552685382 144867992