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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues:        
Total revenues $ 3,562.0 $ 3,403.7 $ 8,124.4 $ 7,924.2
Costs and expenses:        
Product purchases and fuel 2,197.4 2,068.9 5,415.4 5,088.0
Operating expenses 290.7 272.6 568.7 530.7
Depreciation and amortization expense 348.6 332.1 689.1 656.9
General and administrative expense 98.3 81.0 184.8 163.4
Other operating (income) expense (0.2)   (0.3) (0.6)
Income (loss) from operations 627.2 649.1 1,266.7 1,485.8
Other income (expense):        
Interest expense, net (176.0) (166.6) (404.6) (334.7)
Equity earnings (loss) 2.9 3.4 5.6 3.2
Gain (loss) from financing activities (0.8)   (0.8) 0.0
Other, net (0.1) (2.0) 1.8 (4.9)
Income (loss) before income taxes 453.2 483.9 868.7 1,149.4
Income tax (expense) benefit (94.3) (96.4) (177.1) (206.7)
Net income (loss) 358.9 387.5 691.6 942.7
Less: Net income (loss) attributable to noncontrolling interests 60.4 58.2 117.9 116.4
Net income (loss) attributable to Targa Resources Corp. 298.5 329.3 573.7 826.3
Premium on repurchase of noncontrolling interests, net of tax [1]       490.7
Net income (loss) attributable to common shareholders $ 298.5 $ 329.3 $ 573.7 $ 335.6
Net income (loss) per common share - basic $ 1.34 $ 1.44 $ 2.56 $ 1.47
Net income (loss) per common share - diluted $ 1.33 $ 1.44 $ 2.55 $ 1.46
Weighted average shares outstanding - basic 221.0 225.6 221.9 226.0
Weighted average shares outstanding - diluted 221.9 226.8 222.9 227.3
Sales of Commodities [Member]        
Revenues:        
Total revenues $ 2,991.1 $ 2,914.6 $ 6,944.4 $ 6,939.7
Fees from Midstream Services [Member]        
Revenues:        
Total revenues $ 570.9 $ 489.1 $ 1,180.0 $ 984.5
[1] Represents premium paid on the Grand Prix Transaction. See Note 4 – Joint Ventures and Acquisitions.