Note 2 — Basis of Presentation
These accompanying financial statements and related notes present our consolidated financial position as of December 31, 2021 and 2020, and the results of operations, comprehensive income (loss), cash flows, and changes in owners’ equity for the years ended December 31, 2021, 2020 and 2019. We have prepared these consolidated financial statements in accordance with GAAP. All significant intercompany balances and transactions have been eliminated in consolidation.
Certain amounts in prior periods have been reclassified to conform to the current year presentation. Beginning in 2021, we reclassified certain fuel and power costs previously included in Operating expenses to Product purchases and fuel within our Consolidated Statements of Operations to better reflect the direct relationship of these costs to our revenue-generating activities and align with our evaluation of the performance of the business. For the years ended December 31, 2021, 2020 and 2019, we reclassified $64.9 million, $81.4 million and $89.5 million in fuel and power costs, respectively.
Free historical financial statements for Targa Resources Corp.
See how revenue, income, cash flow, and balance sheet financials have changed over 51 quarters since 2012. Compare with TRGP stock chart to see long term trends.