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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenues:    
Total revenues $ 4,562.4 $ 4,520.5
Costs and expenses:    
Product purchases and fuel 3,218.0 3,019.0
Operating expenses 278.0 258.2
Depreciation and amortization expense 340.5 324.8
General and administrative expense 86.5 82.4
Other operating (income) expense   (0.6)
Income (loss) from operations 639.4 836.7
Other income (expense):    
Interest expense, net (228.6) (168.0)
Equity earnings (loss) 2.8 (0.2)
Other, net 1.7 (3.0)
Income (loss) before income taxes 415.3 665.5
Income tax (expense) benefit (82.7) (110.3)
Net income (loss) 332.6 555.2
Less: Net income (loss) attributable to noncontrolling interests 57.4 58.2
Net income (loss) attributable to Targa Resources Corp. 275.2 497.0
Premium on repurchase of noncontrolling interests, net of tax [1]   490.7
Net income (loss) attributable to common shareholders $ 275.2 $ 6.3
Net income (loss) per common share - basic $ 1.23 $ 0.03
Net income (loss) per common share - diluted $ 1.22 $ 0.03
Weighted average shares outstanding - basic 222.8 226.4
Weighted average shares outstanding - diluted 223.7 229.3
Sales of Commodities [Member]    
Revenues:    
Total revenues $ 3,953.0 $ 4,025.0
Fees from Midstream Services [Member]    
Revenues:    
Total revenues $ 609.4 $ 495.5
[1] Represents premium paid on the Grand Prix Transaction. See Note 4 – Acquisitions.