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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenues:        
Total revenues $ 2,986.4 $ 2,131.8 $ 7,886.3 $ 6,112.1
Costs and expenses:        
Product purchases (see Note 3) 2,383.5 1,663.1 6,229.7 4,737.8
Operating expenses 194.9 155.5 538.7 462.7
Depreciation and amortization expense 206.3 208.3 607.1 602.8
General and administrative expense 63.2 49.9 176.9 149.5
Impairment of property, plant and equipment   378.0   378.0
Other operating (income) expense 61.8 0.6 15.7 17.2
Income (loss) from operations 76.7 (323.6) 318.2 (235.9)
Other income (expense):        
Interest expense, net (78.2) (56.1) (124.2) (181.2)
Equity earnings (loss) 3.0 0.2 6.4 (16.6)
Gain (loss) from financing activities     (2.0) (16.5)
Change in contingent considerations (16.6) 126.8 (12.1) 125.6
Other, net   0.2   (2.7)
Income (loss) before income taxes (15.1) (252.5) 186.3 (327.3)
Income tax (expense) benefit 3.9 97.4 (37.7) 132.3
Net income (loss) (11.2) (155.1) 148.6 (195.0)
Less: Net income (loss) attributable to noncontrolling interests 12.5 12.5 40.4 34.3
Net income (loss) attributable to Targa Resources Corp. (23.7) (167.6) 108.2 (229.3)
Dividends on Series A Preferred Stock 22.9 22.9 68.8 68.8
Deemed dividends on Series A Preferred Stock 7.4 6.5 21.5 19.0
Net income (loss) attributable to common shareholders $ (54.0) $ (197.0) $ 17.9 $ (317.1)
Net income (loss) per common share - basic $ (0.24) $ (0.91) $ 0.08 $ (1.56)
Net income (loss) per common share - diluted $ (0.24) $ (0.91) $ 0.08 $ (1.56)
Weighted average shares outstanding - basic 226.5 215.6 222.1 203.8
Weighted average shares outstanding - diluted 226.5 215.6 223.8 203.8
Dividends per common share declared for the period $ 0.91 $ 0.91 $ 2.73 $ 2.73
Sales of Commodities [Member]        
Revenues:        
Total revenues $ 2,654.1 $ 1,871.5 $ 6,981.4 $ 5,353.1
Fees from Midstream Services [Member]        
Revenues:        
Total revenues $ 332.3 $ 260.3 $ 904.9 $ 759.0