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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 141.7 $ 219.0
Trade receivables, net of allowances of $2.5 million and $2.2 million at December 31, 2023 and December 31, 2022 1,471.0 1,408.4
Inventories 371.5 393.8
Assets from risk management activities 111.9 179.9
Other current assets 98.5 155.5
Total current assets 2,194.6 2,356.6
Property, plant and equipment, net 15,806.4 14,214.6
Intangible assets, net 2,350.6 2,734.6
Long-term assets from risk management activities 33.3 24.5
Investments in unconsolidated affiliates 146.3 131.3
Other long-term assets 140.6 98.4
Total assets 20,671.8 19,560.0
Current liabilities:    
Accounts payable 1,574.9 1,448.8
Accrued liabilities 281.7 289.5
Interest payable 229.6 174.0
Liabilities from risk management activities 54.0 320.1
Current debt obligations 620.7 834.3
Total current liabilities 2,760.9 3,066.7
Long-term debt 12,333.2 10,702.1
Long-term liabilities from risk management activities 16.8 140.1
Deferred income taxes, net 535.8 327.7
Other long-term liabilities 415.1 341.2
Commitments and Contingencies (see Notes 17 and 18) 0.0 0.0
Targa Resources Corp. stockholders' equity:    
Common stock ($0.001 par value, 450,000,000 shares authorized as of December 31, 2023 and December 31, 2022) 0.2 0.2
Preferred stock ($0.001 par value, after designation of Series A Preferred Stock: 98,800,000 shares authorized, zero shares issued and outstanding) 0.0 0.0
Additional paid-in capital 3,058.8 3,702.3
Retained earnings (deficit) 492.0 (626.8)
Accumulated other comprehensive income (loss) 85.6 54.7
Treasury stock, at cost (17,484,440 shares as of December 31, 2023 and 11,896,829 shares as of December 31, 2022) (896.9) (464.7)
Total Targa Resources Corp. stockholders' equity 2,739.7 2,665.7
Noncontrolling interests 1,870.3 2,316.5
Total owners' equity 4,610.0 4,982.2
Total liabilities, Series A Preferred Stock and owners' equity 20,671.8 19,560.0
Series A Preferred Stock [Member]    
Current liabilities:    
Series A Preferred 9.5% Stock, $1,000 per share liquidation preference (1,200,000 shares authorized, zero shares issued and outstanding as of December 31, 2023 and December 31, 2022), net of discount $ 0.0 $ 0.0