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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues:        
Total revenues $ 4,459.7 $ 2,115.1 $ 11,508.2 $ 5,687.5
Costs and expenses:        
Product purchases and fuel 3,614.7 1,322.9 9,159.8 3,405.1
Operating expenses 189.4 162.2 545.3 506.8
Depreciation and amortization expense 222.8 203.7 650.9 647.3
General and administrative expense 67.3 58.6 192.4 180.6
Impairment of long-lived assets       2,442.8
Other operating (income) expense (1.0) 72.2 3.4 73.8
Income (loss) from operations 366.5 295.5 956.4 (1,568.9)
Other income (expense):        
Interest expense, net (91.0) (97.7) (284.2) (292.4)
Equity earnings (loss) 14.3 18.6 38.9 54.1
Gain (loss) from financing activities   (13.7) (16.6) 47.4
Other, net 0.2 1.4 0.3 2.2
Income (loss) before income taxes 290.0 204.1 694.8 (1,757.6)
Income tax (expense) benefit (2.0) (31.9) (23.5) 286.6
Net income (loss) 288.0 172.2 671.3 (1,471.0)
Less: Net income (loss) attributable to noncontrolling interests 105.8 102.9 286.5 116.5
Net income (loss) attributable to Targa Resources Corp. 182.2 69.3 384.8 (1,587.5)
Dividends on Series A Preferred Stock 21.8 22.9 65.5 68.8
Deemed dividends on Series A Preferred Stock   9.5   27.7
Net income (loss) attributable to common shareholders $ 160.4 $ 36.9 $ 319.3 $ (1,684.0)
Net income (loss) per common share - basic $ 0.70 $ 0.16 $ 1.40 $ (7.22)
Net income (loss) per common share - diluted $ 0.66 $ 0.16 $ 1.38 $ (7.22)
Weighted average shares outstanding - basic 228.8 233.4 228.6 233.2
Weighted average shares outstanding - diluted 276.4 233.8 231.6 233.2
Sales of Commodities [Member]        
Revenues:        
Total revenues $ 4,118.1 $ 1,840.8 $ 10,577.3 $ 4,900.8
Fees from Midstream Services [Member]        
Revenues:        
Total revenues $ 341.6 $ 274.3 $ 930.9 $ 786.7