XML 20 R4.htm IDEA: XBRL DOCUMENT v3.24.0.1Close
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenues:      
Total revenues $ 16,060.3 $ 20,929.8 $ 16,949.8 Close
Costs and expenses:       Close
Product purchases and fuel 10,676.4 16,882.1 13,729.5 Close
Operating expenses 1,077.9 912.8 747.0 Close
Depreciation and amortization expense 1,329.6 1,096.0 870.6 Close
General and administrative expense 348.7 309.7 273.2 Close
Impairment of long-lived assets     452.3 Close
Other operating (income) expense 1.5 0.2 12.4 CloseClose
Total Operating Expenses 13434.1 19200.8 16085.0 0 0 Close
Income (loss) from operations 2,626.2 1,729.0 864.8 Close
Other income (expense):       Close
Interest expense, net (687.8) (446.1) (387.9) Close
Equity earnings (loss) 9.0 9.1 (23.9) Close
Gain (loss) from financing activities (2.1) (49.6) (16.6) Close
Gain (loss) from sale of equity-method investment   435.9   Close
Total Other Income Expenses -683.7 -65.8 -427.9 0 0 Close
Other, net (2.8) (15.1) 0.5 CloseClose
Income (loss) before income taxes 1,942.5 1,663.2 436.9 Close
Income tax (expense) benefit (363.2) (131.8) (14.8) Close
Net income (loss) 1,579.3 1,531.4 422.1 Close
Less: Net income (loss) attributable to noncontrolling interests 233.4 335.9 350.9
Net income (loss) attributable to Targa Resources Corp. 1,345.9 1,195.5 71.2
Premium on repurchase of noncontrolling interests, net of tax [1] 510.1 53.2  
Dividends on Series A Preferred Stock   30.0 87.3
Deemed dividends on Series A Preferred Stock   215.5  
Net income (loss) attributable to common shareholders $ 835.8 $ 896.8 $ (16.1)
Net income (loss) per common share - basic $ 3.69 $ 3.95 $ (0.07)
Net income (loss) per common share - diluted $ 3.66 $ 3.88 $ (0.07)
Weighted average shares outstanding - basic 224.6 227.3 228.6
Weighted average shares outstanding - diluted 226.0 231.1 228.6
Sales of Commodities [Member]      
Revenues:      
Total revenues $ 13,962.1 $ 19,066.0 $ 15,602.5
Fees from Midstream Services [Member]      
Revenues:      
Total revenues $ 2,098.2 $ 1,863.8 $ 1,347.3
[1] Represents premium paid on the Grand Prix Transaction, Carnero Acquisition and the DevCo JV Repurchase. See Note 4 – Acquisitions and Divestitures