Targa Resources Corp. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Targa Resources Corp. on December 11, 2017. The report addresses a corporate governance update involving Targa Resources Partners LP, a subsidiary of the registrant.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is non-financial in nature and does not contain financial statements or performance metrics.
Material Changes
On December 11, 2017, Targa Resources GP LLC, the general partner of Targa Resources Partners LP, entered into Amendment No. 1 to the Third Amended and Restated Agreement of Limited Partnership. This amendment revises the partnership agreement to align with changes to the Internal Revenue Code enacted by the Bipartisan Budget Act of 2015, specifically regarding partnership audit and adjustment procedures.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, or outlook. The primary context is regulatory compliance with updated tax code provisions. No unusual items or contingencies were disclosed in this specific report.
Key Facts for Investor Verification
- Verify the specific tax code changes under the Bipartisan Budget Act of 2015 that necessitated the partnership agreement amendment.
- Review the full text of Amendment No. 1 (Exhibit 3.1) to understand the precise revisions to audit and adjustment procedures.
- Confirm that the amendment was executed by the General Partner on behalf of the Partnership as disclosed.