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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 109.9 $ 141.7
Trade receivables, net of allowances of $2.5 million and $2.5 million at March 31, 2024 and December 31, 2023 1,483.7 1,471.0
Inventories 224.5 371.5
Assets from risk management activities 72.6 111.9
Other current assets 82.3 98.5
Total current assets 1,973.0 2,194.6
Property, plant and equipment, net 16,282.8 15,806.4
Intangible assets, net 2,257.3 2,350.6
Long-term assets from risk management activities 17.1 33.3
Investments in unconsolidated affiliates 152.2 146.3
Other long-term assets 163.7 140.6
Total assets 20,846.1 20,671.8
Current liabilities:    
Accounts payable 1,709.5 1,574.9
Accrued liabilities 295.9 281.7
Interest payable 186.2 229.6
Liabilities from risk management activities 76.8 54.0
Current debt obligations 546.1 620.7
Total current liabilities 2,814.5 2,760.9
Long-term debt 12,509.9 12,333.2
Long-term liabilities from risk management activities 39.8 16.8
Deferred income taxes, net 600.2 535.8
Other long-term liabilities 304.1 415.1
Contingencies (see Note 12) 0.0 0.0
Targa Resources Corp. stockholders' equity:    
Common stock ($0.001 par value, 450,000,000 shares authorized as of March 31, 2024 and December 31, 2023) 0.2 0.2
Additional paid-in capital 3,073.4 3,058.8
Retained earnings (deficit) 654.1 492.0
Accumulated other comprehensive income (loss) 33.9 85.6
Treasury stock, at cost (19,109,620 shares as of March 31, 2024 and 17,484,440 shares as of December 31, 2023) (1,057.7) (896.9)
Total Targa Resources Corp. stockholders' equity 2,703.9 2,739.7
Noncontrolling interests 1,873.7 1,870.3
Total owners' equity 4,577.6 4,610.0
Total liabilities and owners' equity $ 20,846.1 $ 20,671.8