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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Revenues:    
Total revenues $ 4,959.1 $ 3,632.7
Costs and expenses:    
Product purchases and fuel 4,204.1 2,836.3
Operating expenses 183.5 171.1
Depreciation and amortization expense 209.1 216.2
General and administrative expense 67.1 61.4
Other operating (income) expense (0.5) 3.6
Income (loss) from operations 295.8 344.1
Other income (expense):    
Interest expense, net (93.6) (98.4)
Equity earnings (loss) 5.6 11.8
Gain (loss) from financing activities (15.8) (14.7)
Other, net (0.5) 0.1
Income (loss) before income taxes 191.5 242.9
Income tax (expense) benefit (22.9) (15.0)
Net income (loss) 168.6 227.9
Less: Net income (loss) attributable to noncontrolling interests 80.6 81.5
Net income (loss) attributable to Targa Resources Corp. 88.0 146.4
Premium on repurchase of noncontrolling interests, net of tax 53.1  
Dividends on Series A Preferred Stock 21.8 21.8
Net income (loss) attributable to common shareholders $ 13.1 $ 124.6
Net income (loss) per common share - basic $ 0.06 $ 0.54
Net income (loss) per common share - diluted $ 0.06 $ 0.53
Weighted average shares outstanding - basic 228.5 228.5
Weighted average shares outstanding - diluted 232.4 274.7
Sales of Commodities [Member]    
Revenues:    
Total revenues $ 4,566.2 $ 3,367.7
Fees from Midstream Services [Member]    
Revenues:    
Total revenues $ 392.9 $ 265.0