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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues        
Sales of commodities $ 1,623.8 $ 1,312.9 $ 3,481.7 $ 2,484.0
Fees from midstream services 243.9 270.7 498.6 542.0
Total revenues 1,867.7 1,583.6 3,980.3 3,026.0
Costs and expenses:        
Product purchases 1,420.6 1,145.2 3,074.8 2,156.2
Operating expenses 155.2 138.9 307.2 271.0
Depreciation and amortization expense 203.4 186.1 394.6 379.6
General and administrative expense 51.0 47.0 99.6 92.2
Goodwill impairment 0.0 0.0 0.0 24.0
Other operating (income) expense 0.3 0.1 16.5 1.1
Income from operations 37.2 66.3 87.6 101.9
Other income (expense):        
Interest expense, net (62.1) (71.4) (125.1) (124.3)
Equity earnings (loss) (4.2) (4.4) (16.8) (9.2)
Gain (loss) from financing activities (10.7) (3.3) (16.5) 21.4
Other, net 4.4 (0.1) (4.0) (0.2)
Income (loss) before income taxes (35.4) (12.9) (74.8) (10.4)
Income tax (expense) benefit 106.0 (1.7) 34.9 (4.8)
Net income (loss) 70.6 (14.6) (39.9) (15.2)
Less: Net income attributable to noncontrolling interests 13.0 8.6 21.8 10.7
Net income (loss) attributable to Targa Resources Corp. 57.6 (23.2) (61.7) (25.9)
Dividends on Series A preferred stock 22.9 22.9 45.8 26.7
Deemed dividends on Series A preferred stock 6.3 6.5 12.5 6.5
Net income (loss) attributable to common shareholders $ 28.4 $ (52.6) $ (120.0) $ (59.1)
Net income (loss) per common share - basic $ 0.14 $ (0.33) $ (0.61) $ (0.44)
Net income (loss) per common share - diluted $ 0.14 $ (0.33) $ (0.61) $ (0.44)
Weighted average shares outstanding - basic 203.7 161.6 197.8 134.1
Weighted average shares outstanding - diluted 205.0 161.6 197.8 134.1
Dividends per common share declared for the period $ 0.91 $ 0.91 $ 1.82 $ 1.82