XML 110 R94.htm IDEA: XBRL DOCUMENT v3.24.0.1
Earnings per Common Share (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 12 Months Ended
Jun. 30, 2022
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Earnings Per Common Share [Line Items]        
Net income (loss) attributable to Targa Resources Corp.   $ 1,345.9 $ 1,195.5 $ 71.2
Less: Premium on repurchase of noncontrolling interests, net of tax [1]   510.1 53.2  
Less: Deemed dividends on Series A Preferred     215.5  
Net income (loss) attributable to common shareholders   835.8 896.8 (16.1)
Less: Participating share-based earnings [2]   7.6    
Net income (loss) allocated to common shareholders for basic earnings per share   $ 828.2 $ 896.8 $ (16.1)
Weighted average shares outstanding - basic   224.6 227.3 228.6
Dilutive effect of unvested stock awards [3]   1.4 3.8  
Weighted average shares outstanding - diluted (in shares)   226.0 231.1 228.6
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)
Series A Preferred Stock [Member]        
Earnings Per Common Share [Line Items]        
Less: Dividends on Series A Preferred Stock [4]     $ 30.0 $ 87.3
Less: Deemed dividends on Series A Preferred $ 215.5   $ 215.5 [5]  
[1] Represents premium paid on the Grand Prix Transaction, Carnero Acquisition and the DevCo JV Repurchase. See Note 4 – Acquisitions and Divestitures
[2] Represents the distributed and undistributed earnings of the Company attributable to the participating securities. The dilutive effect of the reallocation of participating securities to diluted net income attributable to common shareholders was immaterial.
[3] For the year ended December 31, 2021, all unvested restricted stock awards and Series A Preferred were antidilutive because a net loss existed in the period.
[4] Includes $8.2 million attributable to the dividends paid upon the full redemption of Series A Preferred in 2022.
[5] Includes $215.5 million attributable to the full redemption of Series A Preferred in 2022. See Note 11 – Preferred Stock for further discussion.