8-K/AExhibits & Filings

Targa Resources Corp. 8-K/A Report, Exhibit Filing (Mar 11, 2015)

Filed March 11, 2015For Securities:TRGP

Summary

This Form 8-K/A filing by Targa Resources Corp. (TRGP) serves as an amendment to a prior filing, providing crucial financial statements related to the previously announced "Atlas Mergers" which closed on February 27, 2015. Specifically, the filing includes audited financial statements for "RemainCo" (Atlas Energy, L.P. after its spin-off of Atlas Energy Group, LLC) and unaudited pro forma condensed consolidated financial statements for Targa Resources Corp. reflecting the impact of these mergers. For investors, these financial statements are essential for understanding the combined entity's financial position and operational performance post-acquisition. The pro forma statements allow for a clearer view of TRGP's financials as if the mergers had occurred earlier, providing a basis for evaluating the company's scale, leverage, and potential synergies. Investors should carefully review these financial statements to assess the value and risk associated with Targa Resources following this significant corporate transaction.

Key Highlights

  • 1Targa Resources Corp. is filing an 8-K/A to provide necessary financial statements not included in the original March 4, 2015 filing.
  • 2The filing includes audited financial statements for 'RemainCo' (Atlas Energy, L.P. post-spin-off) for the years ended December 31, 2014 and 2013.
  • 3Unaudited pro forma condensed consolidated financial statements for Targa Resources Corp., reflecting the impact of the Atlas Mergers (ATLS Merger and APL Merger) are provided.
  • 4The 'Atlas Mergers' closed on February 27, 2015, involving the acquisitions of Atlas Energy, L.P. and Atlas Pipeline Partners, L.P.
  • 5The filing includes the consent of Grant Thornton LLP, the independent auditors for RemainCo.
  • 6These financial disclosures are critical for investors to assess the financial health and performance of the combined entity post-merger.

Frequently Asked Questions

This filing amends a previous Form 8-K to provide required audited financial statements for the acquired entity (RemainCo) and pro forma financial statements for Targa Resources Corp. after the completion of the Atlas Mergers, which were not included in the initial report.

The 'Atlas Mergers' refer to two transactions that closed on February 27, 2015: the merger of Trident GP Merger Sub LLC with and into Atlas Energy, L.P. (ATLS Merger), and the merger of Trident MLP Merger Sub LLC with and into Atlas Pipeline Partners, L.P. (APL Merger).

'RemainCo' is Atlas Energy, L.P. after it transferred certain assets and liabilities to Atlas Energy Group, LLC (AEG) and distributed AEG units to its unitholders (the Spin-Off). Its audited financial statements are required to show the financial condition of the portion of Atlas Energy that became part of Targa Resources post-merger.

The unaudited pro forma condensed consolidated financial statements present Targa Resources Corp.'s financial position and results of operations as if the Atlas Mergers had occurred on earlier specified dates. This allows investors to better understand the combined company's financial performance and comparability without the impact of the transaction timing.