CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Millions, $ in Millions |
3 Months Ended | 6 Months Ended | |||||
|---|---|---|---|---|---|---|---|
Jun. 30, 2024 |
Jun. 30, 2023 |
Jun. 30, 2024 |
Jun. 30, 2023 |
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| Revenues: | |||||||
| Total revenues | $ 3,562.0 | $ 3,403.7 | $ 8,124.4 | $ 7,924.2 | | ||
| Costs and expenses: | | ||||||
| Product purchases and fuel | 2,197.4 | 2,068.9 | 5,415.4 | 5,088.0 | | ||
| Operating expenses | 290.7 | 272.6 | 568.7 | 530.7 | | ||
| Depreciation and amortization expense | 348.6 | 332.1 | 689.1 | 656.9 | | ||
| General and administrative expense | 98.3 | 81.0 | 184.8 | 163.4 | | ||
| Other operating (income) expense | (0.2) | (0.3) | (0.6) | | | ||
| Total Operating Expenses | 2934.8 | 2754.6 | 6857.7 | 6438.4 | 0 | |
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| Income (loss) from operations | 627.2 | 649.1 | 1,266.7 | 1,485.8 | | ||
| Other income (expense): | | ||||||
| Interest expense, net | (176.0) | (166.6) | (404.6) | (334.7) | | ||
| Equity earnings (loss) | 2.9 | 3.4 | 5.6 | 3.2 | | ||
| Gain (loss) from financing activities | (0.8) | (0.8) | 0.0 | | |||
| Total Other Income Expenses | -174.0 | -165.2 | -398.0 | -336.4 | 0 | |
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| Other, net | (0.1) | (2.0) | 1.8 | (4.9) | | | |
| Income (loss) before income taxes | 453.2 | 483.9 | 868.7 | 1,149.4 | | ||
| Income tax (expense) benefit | (94.3) | (96.4) | (177.1) | (206.7) | | ||
| Net income (loss) | 358.9 | 387.5 | 691.6 | 942.7 | | ||
| Less: Net income (loss) attributable to noncontrolling interests | 60.4 | 58.2 | 117.9 | 116.4 | |||
| Net income (loss) attributable to Targa Resources Corp. | 298.5 | 329.3 | 573.7 | 826.3 | |||
| Premium on repurchase of noncontrolling interests, net of tax | [1] | 490.7 | |||||
| Net income (loss) attributable to common shareholders | $ 298.5 | $ 329.3 | $ 573.7 | $ 335.6 | |||
| Net income (loss) per common share - basic | $ 1.34 | $ 1.44 | $ 2.56 | $ 1.47 | |||
| Net income (loss) per common share - diluted | $ 1.33 | $ 1.44 | $ 2.55 | $ 1.46 | |||
| Weighted average shares outstanding - basic | 221.0 | 225.6 | 221.9 | 226.0 | |||
| Weighted average shares outstanding - diluted | 221.9 | 226.8 | 222.9 | 227.3 | |||
| Sales of Commodities [Member] | |||||||
| Revenues: | |||||||
| Total revenues | $ 2,991.1 | $ 2,914.6 | $ 6,944.4 | $ 6,939.7 | |||
| Fees from Midstream Services [Member] | |||||||
| Revenues: | |||||||
| Total revenues | $ 570.9 | $ 489.1 | $ 1,180.0 | $ 984.5 | |||
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- Definition Premium on repurchase of noncontrolling interests, net of tax. No definition available.
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- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of gain (loss) from the difference between the repurchase price of a debt instrument initially issued by the entity and the net carrying amount of the debt at the time of its repurchase. No definition available.
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of income (loss) for proportionate share of equity method investee's income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The net amount of nonoperating interest income (expense). No definition available.
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Excludes Selling, General and Administrative Expense. No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The net amount of other operating income and expenses, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operations. No definition available.
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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