DT Midstream Inc
For the period ended Dec 31, 2023. Filed Feb 16, 2024.
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FY2023 · Filed Feb 16, 2024
DTM$118.73+1.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| (millions) | |||
| Operating Activities | |||
| Net Income | $396 | $382 | $318 |
| Adjustments to reconcile Net Income to Net cash and cash equivalents from operating activities: | |||
| Depreciation and amortization | 182 | 170 | 166 |
| Stock-based compensation | 20 | 17 | 12 |
| Amortization of operating lease right-of-use assets | 18 | 19 | 18 |
| Deferred income taxes | 110 | 70 | 104 |
| Earnings from equity method investees | (177) | (150) | (126) |
| Dividends from equity method investees | 196 | 181 | 129 |
| Asset (gains) losses and impairments, net | — | (17) | 17 |
| Loss from financing activities | — | 13 | — |
| Changes in assets and liabilities: | |||
| Accounts receivable, net | 7 | 8 | (43) |
| Accounts payable — third party | (5) | 7 | 4 |
| Accounts payable — related party | — | — | (10) |
| Contract liabilities | 97 | 3 | 6 |
| Other current and noncurrent assets and liabilities | (46) | 22 | (23) |
| Net cash and cash equivalents from operating activities | 798 | 725 | 572 |
| Investing Activities | |||
| Plant and equipment expenditures | (772) | (338) | (140) |
| Proceeds from sale of notes receivable | — | 22 | — |
| Distributions from equity method investees | 427 | 17 | 9 |
| Contributions to equity method investees | (7) | (5) | (11) |
| Acquisition of additional interest in equity method investee | — | (552) | — |
| Notes receivable repaid by DTE Energy | — | — | 263 |
| Other investing activities | 1 | 2 | 2 |
| Net cash and cash equivalents from (used for) investing activities | (351) | (854) | 123 |
| Financing Activities | |||
| Issuance of long-term debt, net of discount and issuance costs | — | 591 | 3,047 |
| Repayment of long-term debt | — | (596) | (5) |
| Repayment of short-term borrowings from DTE Energy | — | — | (3,175) |
| Borrowings under the Revolving Credit Facility | 540 | 370 | 25 |
| Repayment of borrowings under the Revolving Credit Facility | (705) | (40) | (25) |
| Payment of Revolving Credit Facility issuance costs | — | (3) | (7) |
| Repurchase of common stock | — | (3) | — |
| Distributions to noncontrolling interests | (18) | (14) | (16) |
| Dividends paid on common stock | (263) | (244) | (58) |
| Dividend to DTE Energy | — | — | (501) |
| Contributions from DTE Energy | — | — | 110 |
| Other financing activities | (6) | (3) | — |
| Net cash and cash equivalents from (used for) financing activities | (452) | 58 | (605) |
| Net Increase (Decrease) in Cash and Cash Equivalents | (5) | (71) | 90 |
| Cash and Cash Equivalents at Beginning of Period | 61 | 132 | 42 |
| Cash and Cash Equivalents at End of Period | $56 | $61 | $132 |
| Supplemental disclosure of cash information | |||
| Cash paid for: | |||
| Interest, net of interest capitalized | $140 | $125 | $103 |
| Income taxes | 22 | 24 | 3 |
| Supplemental disclosure of non-cash investing and financing activities | |||
| Plant and equipment expenditures in accounts payable and other accrued liabilities | $80 | $99 | $10 |
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