v3.25.0.1
Earnings per Common Share (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 12 Months Ended
May 03, 2022
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Earnings Per Common Share [Line Items]        
Net income (loss) attributable to Targa Resources Corp.   $ 1,312.0 $ 1,345.9 $ 1,195.5
Less: Premium on repurchase of noncontrolling interests, net of tax [1]   32.9 510.1 53.2
Less: Deemed dividends on Series A Preferred Stock       215.5
Net income (loss) attributable to common shareholders   1,279.1 835.8 896.8
Less: Participating share-based earnings [2]   9.6 7.6  
Net income (loss) allocated to common shareholders for basic earnings per share   $ 1,269.5 $ 828.2 $ 896.8
Weighted average shares outstanding - basic   220.2 224.6 227.3
Dilutive effect of unvested restricted stock awards   1.1 1.4 3.8
Weighted average shares outstanding - diluted (in shares)   221.3 226.0 231.1
Net income (loss) per common share - basic   $ 5.77 $ 3.69 $ 3.95
Net income (loss) per common share - diluted   $ 5.74 $ 3.66 $ 3.88
Series A Preferred Stock [Member]        
Earnings Per Common Share [Line Items]        
Less: Dividends on Series A Preferred Stock [3]       $ 30.0
Less: Deemed dividends on Series A Preferred Stock $ 215.5     $ 215.5 [4]
[1] Represents premium paid on the CBF Acquisition, Grand Prix Transaction, Carnero Acquisition and the DevCo JV Repurchase. See Note 4 – Acquisitions and Divestitures
[2] Represents the distributed and undistributed earnings of the Company attributable to the participating securities. The dilutive effect of the reallocation of participating securities to diluted net income attributable to common shareholders was immaterial.
[3] Includes $8.2 million attributable to the dividends paid upon the full redemption of Series A Preferred in 2022. See Note 11 – Common Stock and Related Matters for further discussion.
[4] Includes $215.5 million attributable to the full redemption of Series A Preferred in 2022. See Note 11 – Common Stock and Related Matters for further discussion.