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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenues:      
Total revenues $ 8,260.3 $ 8,671.1 $ 10,484.0
Costs and expenses:      
Product purchases 5,105.1 6,118.5 8,238.2
Operating expenses 779.8 792.9 722.0
Depreciation and amortization expense 865.1 971.6 815.9
General and administrative expense 254.6 280.7 256.9
Impairment of long-lived assets 2,442.8 225.3  
Impairment of goodwill     210.0
Other operating (income) expense 116.6 89.2 3.5
Income (loss) from operations (1,303.7) 192.9 237.5
Other income (expense):      
Interest expense, net (391.3) (337.8) (185.8)
Equity earnings (loss) 72.6 39.0 7.3
Gain (loss) from financing activities 45.6 (1.4) (2.0)
Gain (loss) from sale of equity-method investment   69.3  
Change in contingent considerations 0.3 (8.7) 8.8
Other, net 3.4   0.1
Income (loss) before income taxes (1,573.1) (46.7) 65.9
Income tax (expense) benefit 248.1 87.9 (5.5)
Net income (loss) (1,325.0) 41.2 60.4
Less: Net income (loss) attributable to noncontrolling interests 228.9 250.4 58.8
Net income (loss) attributable to Targa Resources Corp. (1,553.9) (209.2) 1.6
Dividends on Series A Preferred Stock 91.7 91.7 91.7
Deemed dividends on Series A Preferred Stock 39.2 33.1 29.2
Net income (loss) attributable to common shareholders $ (1,684.8) $ (334.0) $ (119.3)
Net income (loss) per common share - basic $ (7.26) $ (1.44) $ (0.53)
Net income (loss) per common share - diluted $ (7.26) $ (1.44) $ (0.53)
Weighted average shares outstanding - basic 232.2 232.5 224.2
Weighted average shares outstanding - diluted 232.2 232.5 224.2
Sales of Commodities [Member]      
Revenues:      
Total revenues $ 7,171.0 $ 7,393.8 $ 9,278.7
Fees from Midstream Services [Member]      
Revenues:      
Total revenues $ 1,089.3 $ 1,277.3 $ 1,205.3