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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues:      
Total revenues $ 16,381.5 $ 16,060.3 $ 20,929.8
Costs and expenses:      
Product purchases and fuel 10,703.0 10,676.4 16,882.1
Operating expenses 1,175.6 1,077.9 912.8
Depreciation and amortization expense 1,423.0 1,329.6 1,096.0
General and administrative expense 384.9 348.7 309.7
Other operating (income) expense (0.4) 1.5 0.2
Income (loss) from operations 2,695.4 2,626.2 1,729.0
Other income (expense):      
Interest expense, net (767.2) (687.8) (446.1)
Equity earnings (loss) 9.4 9.0 9.1
Gain (loss) from financing activities (0.8) (2.1) (49.6)
Gain (loss) from sale of equity-method investment     435.9
Other, net 1.2 (2.8) (15.1)
Income (loss) before income taxes 1,938.0 1,942.5 1,663.2
Income tax (expense) benefit (384.5) (363.2) (131.8)
Net income (loss) 1,553.5 1,579.3 1,531.4
Less: Net income (loss) attributable to noncontrolling interests 241.5 233.4 335.9
Net income (loss) attributable to Targa Resources Corp. 1,312.0 1,345.9 1,195.5
Premium on repurchase of noncontrolling interests, net of tax [1] 32.9 510.1 53.2
Dividends on Series A Preferred Stock     30.0
Deemed dividends on Series A Preferred Stock     215.5
Net income (loss) attributable to common shareholders $ 1,279.1 $ 835.8 $ 896.8
Net income (loss) per common share - basic $ 5.77 $ 3.69 $ 3.95
Net income (loss) per common share - diluted $ 5.74 $ 3.66 $ 3.88
Weighted average shares outstanding - basic 220.2 224.6 227.3
Weighted average shares outstanding - diluted 221.3 226.0 231.1
Sales of Commodities [Member]      
Revenues:      
Total revenues $ 13,891.8 $ 13,962.1 $ 19,066.0
Fees from Midstream Services [Member]      
Revenues:      
Total revenues $ 2,489.7 $ 2,098.2 $ 1,863.8
[1] Represents premium paid on the CBF Acquisition, Grand Prix Transaction, Carnero Acquisition and the DevCo JV Repurchase. See Note 4 – Acquisitions and Divestitures