DT Midstream Inc
For the period ended Dec 31, 2024. Filed Feb 26, 2025.
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FY2024 · Filed Feb 26, 2025
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, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| (millions) | |||
| Operating Activities | |||
| Net Income | $367 | $396 | $382 |
| Adjustments to reconcile Net Income to Net cash and cash equivalents from operating activities: | |||
| Depreciation and amortization | 209 | 182 | 170 |
| Stock-based compensation | 23 | 20 | 17 |
| Amortization of operating lease right-of-use assets | 18 | 18 | 19 |
| Deferred income taxes | 120 | 110 | 70 |
| Earnings from equity method investees | (162) | (177) | (150) |
| Dividends from equity method investees | 161 | 196 | 181 |
| Asset (gains) losses and impairments, net | — | — | (17) |
| Loss from financing activities | 5 | — | 13 |
| Changes in assets and liabilities: | |||
| Accounts receivable, net | 11 | 7 | 8 |
| Accounts payable | 11 | (5) | 7 |
| Contract liabilities | 23 | 97 | 3 |
| Other current and noncurrent assets and liabilities | (23) | (46) | 22 |
| Net cash and cash equivalents from operating activities | 763 | 798 | 725 |
| Investing Activities | |||
| Plant and equipment expenditures | (350) | (772) | (338) |
| Acquisition accounted for as a business combination | (1,198) | — | — |
| Proceeds from sale of notes receivable | — | — | 22 |
| Distributions from equity method investees | 472 | 427 | 17 |
| Contributions to equity method investees | (5) | (7) | (5) |
| Acquisition of additional interest in equity method investee | — | — | (552) |
| Other investing activities | — | 1 | 2 |
| Net cash and cash equivalents used for investing activities | (1,081) | (351) | (854) |
| Financing Activities | |||
| Issuance of long-term debt, net of discount and issuance costs | 644 | — | 591 |
| Repayment of long-term debt | (399) | — | (596) |
| Borrowings under the Revolving Credit Facility | 385 | 540 | 370 |
| Repayment of borrowings under the Revolving Credit Facility | (400) | (705) | (40) |
| Payment of Revolving Credit Facility issuance costs | (3) | — | (3) |
| Issuance of common stock, net of issuance costs | 406 | — | — |
| Distributions to noncontrolling interests | (17) | (18) | (14) |
| Dividends paid on common stock | (280) | (263) | (244) |
| Other financing activities | (6) | (6) | (6) |
| Net cash and cash equivalents from (used for) financing activities | 330 | (452) | 58 |
| Net Increase (Decrease) in Cash and Cash Equivalents | 12 | (5) | (71) |
| Cash and Cash Equivalents at Beginning of Period | 56 | 61 | 132 |
| Cash and Cash Equivalents at End of Period | $68 | $56 | $61 |
| Supplemental disclosure of cash information | |||
| Cash paid for: | |||
| Interest, net of interest capitalized | $140 | $140 | $125 |
| Income taxes | 12 | 22 | 24 |
| Supplemental disclosure of non-cash investing and financing activities | |||
| Plant and equipment expenditures in accounts payable and other accrued liabilities | $44 | $80 | $99 |
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