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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues:        
Total revenues $ 3,415.9 $ 1,523.5 $ 7,048.7 $ 3,572.4
Costs and expenses:        
Product purchases and fuel 2,709.0 880.1 5,545.3 2,082.2
Operating expenses 184.8 163.9 355.8 344.7
Depreciation and amortization expense 211.9 204.5 428.0 443.6
General and administrative expense 63.7 61.5 125.1 121.9
Impairment of long-lived assets       2,442.8
Other operating (income) expense 0.7 0.4 4.6 1.6
Income (loss) from operations 245.8 213.1 589.9 (1,864.4)
Other income (expense):        
Interest expense, net (94.8) (96.7) (193.2) (194.7)
Equity earnings (loss) 12.8 14.9 24.6 35.5
Gain (loss) from financing activities (1.9) 21.8 (16.6) 61.1
Other, net 0.1 0.8 0.2 0.8
Income (loss) before income taxes 162.0 153.9 404.9 (1,961.7)
Income tax (expense) benefit (6.6) 23.2 (21.6) 318.5
Net income (loss) 155.4 177.1 383.3 (1,643.2)
Less: Net income (loss) attributable to noncontrolling interests 99.2 96.1 180.7 13.6
Net income (loss) attributable to Targa Resources Corp. 56.2 81.0 202.6 (1,656.8)
Dividends on Series A Preferred Stock 21.8 22.9 43.7 45.8
Deemed dividends on Series A Preferred Stock   9.2   18.2
Net income (loss) attributable to common shareholders $ 34.4 $ 48.9 $ 158.9 $ (1,720.8)
Net income (loss) per common share - basic $ 0.15 $ 0.21 $ 0.70 $ (7.38)
Net income (loss) per common share - diluted $ 0.15 $ 0.21 $ 0.69 $ (7.38)
Weighted average shares outstanding - basic 228.6 233.1 228.5 233.1
Weighted average shares outstanding - diluted 231.3 233.8 230.9 233.1
Sales of Commodities [Member]        
Revenues:        
Total revenues $ 3,091.6 $ 1,280.6 $ 6,459.3 $ 3,060.2
Fees from Midstream Services [Member]        
Revenues:        
Total revenues $ 324.3 $ 242.9 $ 589.4 $ 512.2