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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues:        
Total revenues $ 5,360.1 $ 4,459.7 $ 16,375.0 $ 11,508.2
Costs and expenses:        
Product purchases and fuel 4,306.3 3,614.7 13,557.8 9,159.8
Operating expenses 261.3 189.4 660.6 545.3
Depreciation and amortization expense 287.2 222.8 766.2 650.9
General and administrative expense 79.1 67.3 217.2 192.4
Other operating (income) expense (3.8) (1.0) (4.4) 3.4
Income (loss) from operations 430.0 366.5 1,177.6 956.4
Other income (expense):        
Interest expense, net (125.8) (91.0) (300.5) (284.2)
Equity earnings (loss) 1.7 14.3 8.7 38.9
Gain (loss) from financing activities     (49.6) (16.6)
Gain (loss) from sale of equity method investment     435.9  
Other, net (14.6) 0.2 (14.6) 0.3
Income (loss) before income taxes 291.3 290.0 1,257.5 694.8
Income tax (expense) benefit (12.0) (2.0) (122.0) (23.5)
Net income (loss) 279.3 288.0 1,135.5 671.3
Less: Net income (loss) attributable to noncontrolling interests 86.2 105.8 258.0 286.5
Net income (loss) attributable to Targa Resources Corp. 193.1 182.2 877.5 384.8
Premium on repurchase of noncontrolling interests, net of tax     53.1  
Dividends on Series A Preferred Stock   21.8 30.0 65.5
Deemed dividends on Series A Preferred Stock     215.5  
Net income (loss) attributable to common shareholders $ 193.1 $ 160.4 $ 578.9 $ 319.3
Net income (loss) per common share - basic $ 0.85 $ 0.70 $ 2.54 $ 1.40
Net income (loss) per common share - diluted $ 0.84 $ 0.66 $ 2.50 $ 1.38
Weighted average shares outstanding - basic 226.6 228.8 227.6 228.6
Weighted average shares outstanding - diluted 230.3 276.4 231.5 231.6
Sales of Commodities [Member]        
Revenues:        
Total revenues $ 4,800.3 $ 4,118.1 $ 14,990.7 $ 10,577.3
Fees from Midstream Services [Member]        
Revenues:        
Total revenues $ 559.8 $ 341.6 $ 1,384.3 $ 930.9