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Earnings per Common Share (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
1 Months Ended 3 Months Ended 12 Months Ended
Jan. 31, 2022
Jun. 30, 2022
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Earnings Per Common Share [Line Items]          
Net income (loss) attributable to Targa Resources Corp.     $ 1,195.5 $ 71.2 $ (1,553.9)
Less: Premium on repurchase of noncontrolling interests, net of tax [1]     53.2    
Less: Deemed dividends on Series A Preferred     215.5   39.2
Net income (loss) attributable to common shareholders $ (896.8)   $ 896.8 $ (16.1) $ (1,684.8)
Weighted average shares outstanding - basic (in shares)     227.3 228.6 232.2
Dilutive effect of unvested stock awards [2]     3.8    
Weighted average shares outstanding - diluted (in shares)     231.1 228.6 232.2
Net income (loss) per common share - basic     $ 3.95 $ (0.07) $ (7.26)
Net income (loss) per common share - diluted     $ 3.88 $ (0.07) $ (7.26)
Series A Preferred Stock [Member]          
Earnings Per Common Share [Line Items]          
Less: Dividends on Series A Preferred [3] 30.0     $ 87.3 $ 91.7
Less: Deemed dividends on Series A Preferred $ 215.5 [4] $ 215.5     $ 39.2 [4]
[1] Represents premium paid on the DevCo JV Repurchase. See Note 4 – Acquisitions and Divestitures.
[2] For the years ended December 31, 2021 and 2020, all unvested restricted stock awards and Series A Preferred were antidilutive because a net loss existed for each of those periods.
[3] Includes $8.2 million and $1.1 million attributable to the dividends paid upon the full redemption and partial repurchase of Series A Preferred in 2022 and 2020, respectively.
[4] Includes $215.5 million and $1.6 million attributable to the full redemption and partial repurchase of Series A Preferred in 2022 and 2020, respectively. See Note 11 – Preferred Stock for further discussion.