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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenues:      
Total revenues $ 16,060.3 $ 20,929.8 $ 16,949.8
Costs and expenses:      
Product purchases and fuel 10,676.4 16,882.1 13,729.5
Operating expenses 1,077.9 912.8 747.0
Depreciation and amortization expense 1,329.6 1,096.0 870.6
General and administrative expense 348.7 309.7 273.2
Impairment of long-lived assets     452.3
Other operating (income) expense 1.5 0.2 12.4
Income (loss) from operations 2,626.2 1,729.0 864.8
Other income (expense):      
Interest expense, net (687.8) (446.1) (387.9)
Equity earnings (loss) 9.0 9.1 (23.9)
Gain (loss) from financing activities (2.1) (49.6) (16.6)
Gain (loss) from sale of equity-method investment   435.9  
Other, net (2.8) (15.1) 0.5
Income (loss) before income taxes 1,942.5 1,663.2 436.9
Income tax (expense) benefit (363.2) (131.8) (14.8)
Net income (loss) 1,579.3 1,531.4 422.1
Less: Net income (loss) attributable to noncontrolling interests 233.4 335.9 350.9
Net income (loss) attributable to Targa Resources Corp. 1,345.9 1,195.5 71.2
Premium on repurchase of noncontrolling interests, net of tax [1] 510.1 53.2  
Dividends on Series A Preferred Stock   30.0 87.3
Deemed dividends on Series A Preferred Stock   215.5  
Net income (loss) attributable to common shareholders $ 835.8 $ 896.8 $ (16.1)
Net income (loss) per common share - basic $ 3.69 $ 3.95 $ (0.07)
Net income (loss) per common share - diluted $ 3.66 $ 3.88 $ (0.07)
Weighted average shares outstanding - basic 224.6 227.3 228.6
Weighted average shares outstanding - diluted 226.0 231.1 228.6
Sales of Commodities [Member]      
Revenues:      
Total revenues $ 13,962.1 $ 19,066.0 $ 15,602.5
Fees from Midstream Services [Member]      
Revenues:      
Total revenues $ 2,098.2 $ 1,863.8 $ 1,347.3
[1] Represents premium paid on the Grand Prix Transaction, Carnero Acquisition and the DevCo JV Repurchase. See Note 4 – Acquisitions and Divestitures