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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues:      
Total revenues $ 16,949.8 $ 8,260.3 $ 8,671.1
Costs and expenses:      
Product purchases and fuel 13,729.5 5,186.5 6,208.0
Operating expenses 747.0 698.4 703.4
Depreciation and amortization expense 870.6 865.1 971.6
General and administrative expense 273.2 254.6 280.7
Impairment of long-lived assets 452.3 2,442.8 225.3
Other operating (income) expense 12.4 116.6 89.2
Income (loss) from operations 864.8 (1,303.7) 192.9
Other income (expense):      
Interest expense, net (387.9) (391.3) (337.8)
Equity earnings (loss) (23.9) 72.6 39.0
Gain (loss) from financing activities (16.6) 45.6 (1.4)
Gain (loss) from sale of equity-method investment     69.3
Change in contingent considerations (0.1) 0.3 (8.7)
Other, net 0.6 3.4  
Income (loss) before income taxes 436.9 (1,573.1) (46.7)
Income tax (expense) benefit (14.8) 248.1 87.9
Net income (loss) 422.1 (1,325.0) 41.2
Less: Net income (loss) attributable to noncontrolling interests 350.9 228.9 250.4
Net income (loss) attributable to Targa Resources Corp. 71.2 (1,553.9) (209.2)
Dividends on Series A Preferred Stock 87.3 91.7 91.7
Deemed dividends on Series A Preferred Stock   39.2 33.1
Net income (loss) attributable to common shareholders $ (16.1) $ (1,684.8) $ (334.0)
Net income (loss) per common share - basic $ (0.07) $ (7.26) $ (1.44)
Net income (loss) per common share - diluted $ (0.07) $ (7.26) $ (1.44)
Weighted average shares outstanding - basic 228.6 232.2 232.5
Weighted average shares outstanding - diluted 228.6 232.2 232.5
Sales of Commodities [Member]      
Revenues:      
Total revenues $ 15,602.5 $ 7,171.0 $ 7,393.8
Fees from Midstream Services [Member]      
Revenues:      
Total revenues $ 1,347.3 $ 1,089.3 $ 1,277.3