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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 166.4 $ 141.7
Trade receivables, net of allowances of $2.5 million and $2.5 million at June 30, 2024 and December 31, 2023 1,216.9 1,471.0
Inventories 320.6 371.5
Assets from risk management activities 62.8 111.9
Other current assets 99.9 98.5
Total current assets 1,866.6 2,194.6
Property, plant and equipment, net 16,891.2 15,806.4
Intangible assets, net 2,164.0 2,350.6
Long-term assets from risk management activities 16.9 33.3
Investments in unconsolidated affiliates 159.8 146.3
Other long-term assets 165.7 140.6
Total assets 21,264.2 20,671.8
Current liabilities:    
Accounts payable 1,686.8 1,574.9
Accrued liabilities 243.0 281.7
Interest payable 247.9 229.6
Liabilities from risk management activities 111.7 54.0
Current debt obligations 601.2 620.7
Total current liabilities 2,890.6 2,760.9
Long-term debt 12,965.8 12,333.2
Long-term liabilities from risk management activities 65.6 16.8
Deferred income taxes, net 684.5 535.8
Other long-term liabilities 308.7 415.1
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 June 30, 2024 and December 31, 2023) 0.2 0.2
Additional paid-in capital 3,088.5 3,058.8
Retained earnings (deficit) 783.9 492.0
Accumulated other comprehensive income (loss) 11.4 85.6
Treasury stock, at cost (22,097,367 shares as of June 30, 2024 and 17,484,440 shares as of December 31, 2023) (1,416.5) (896.9)
Total Targa Resources Corp. stockholders' equity 2,467.5 2,739.7
Noncontrolling interests 1,881.5 1,870.3
Total owners' equity 4,349.0 4,610.0
Total liabilities and owners' equity $ 21,264.2 $ 20,671.8