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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues:        
Total revenues $ 1,902.5 $ 2,986.4 $ 6,197.2 $ 7,886.3
Costs and expenses:        
Product purchases 1,328.1 2,383.5 4,415.7 6,229.7
Operating expenses 200.2 194.9 600.8 538.7
Depreciation and amortization expense 244.3 206.3 718.9 607.1
General and administrative expense 69.9 63.2 223.5 176.9
Other operating (income) expense 18.4 61.8 21.7 15.7
Income (loss) from operations 41.6 76.7 216.6 318.2
Other income (expense):        
Interest expense, net (89.1) (78.2) (241.8) (124.2)
Equity earnings (loss) 10.0 3.0 15.9 6.4
Gain (loss) from financing activities     (1.4) (2.0)
Gain (loss) from sale of equity-method investment 65.8   65.8  
Change in contingent considerations   (16.6) (8.8) (12.1)
Income (loss) before income taxes 28.3 (15.1) 46.3 186.3
Income tax (expense) benefit 3.8 3.9 10.0 (37.7)
Net income (loss) 32.1 (11.2) 56.3 148.6
Less: Net income (loss) attributable to noncontrolling interests 79.4 12.5 152.7 40.4
Net income (loss) attributable to Targa Resources Corp. (47.3) (23.7) (96.4) 108.2
Dividends on Series A Preferred Stock 22.9 22.9 68.8 68.8
Deemed dividends on Series A Preferred Stock 8.4 7.4 24.4 21.5
Net income (loss) attributable to common shareholders $ (78.6) $ (54.0) $ (189.6) $ 17.9
Net income (loss) per common share - basic $ (0.34) $ (0.24) $ (0.82) $ 0.08
Net income (loss) per common share - diluted $ (0.34) $ (0.24) $ (0.82) $ 0.08
Weighted average shares outstanding - basic 232.7 226.5 232.4 222.1
Weighted average shares outstanding - diluted 232.7 226.5 232.4 223.8
Sales of Commodities [Member]        
Revenues:        
Total revenues $ 1,594.2 $ 2,654.1 $ 5,254.8 $ 6,981.4
Fees from Midstream Services [Member]        
Revenues:        
Total revenues $ 308.3 $ 332.3 $ 942.4 $ 904.9