DT Midstream, Inc.
For the period ended Mar 31, 2026. Filed Apr 30, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed Apr 30, 2026
DTM$116.48+2.5%Stored close · as of Nov 9, 2026
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Definitions
Unless the context otherwise requires, references to "we," "us," "our," "Registrant," or the "Company" and words of similar importance refer to DT Midstream and, unless otherwise specified, our consolidated subsidiaries and our unconsolidated joint ventures. As used in this Form 10-Q, the terms and definitions below have the following meanings:
| AFUDC | Allowance for funds used during construction, represents the cost of financing construction projects for FERC-regulated businesses, including the estimated cost of debt and authorized return on equity |
|---|---|
| Appalachia Gathering | A 154-mile gathering system that gathers Marcellus shale natural gas and delivers to the Texas Eastern Pipeline and Stonewall |
| ASC 606 | The Accounting Standards Codification of Revenue from Contracts with Customers issued by the FASB |
| ASC 980 | The Accounting Standards Codification of Regulated Operations issued by the FASB |
| ASU | Accounting Standards Update issued by the FASB |
| Bcf | Billion cubic feet of natural gas |
| Birdsboro | A 14-mile interstate pipeline transporting gas supply to a gas-fired power plant in Pennsylvania |
| Blue Union Gathering | A 443-mile gathering system that gathers shale natural gas from the Haynesville formation of Louisiana and Texas and delivers to markets in the Gulf Coast region; ancillary services include water impoundment, water transportation, water disposal and sand |
| Bluestone | A 65-mile gathering lateral pipeline, and two compression facilities, that gathers Marcellus shale natural gas and delivers to Millennium and the Tennessee Pipeline |
| Bridge Facility | The $700 million 364-day bridge loan facility committed by Barclays Bank PLC |
| CAD | Canadian Dollar ($) |
| Chicago Hub | A major natural gas market and transportation hub located in the Chicago area, serving as a critical interconnection point for multiple interstate pipelines |
| Clean Fuels Gathering | A 93-mile gathering system that gathers and treats coal mine methane into pipeline quality gas |
| Columbia Pipeline | Columbia Gas Transmission, LLC, owned by TC Energy Corporation and Global Infrastructure Partners |
| Credit Agreement | DT Midstream's credit agreement which provides for the Revolving Credit Facility |
| DT Midstream | DT Midstream, Inc. and our consolidated subsidiaries |
| DTM Interstate Transportation | DTM Interstate Transportation, LLC, the consolidated subsidiary of DT Midstream which is comprised of Guardian, Midwestern and Viking |
| Expand Energy | Expand Energy Corporation and/or its affiliates |
| FASB | Financial Accounting Standards Board |
| FERC | Federal Energy Regulatory Commission |
| GAAP | Generally Accepted Accounting Principles in the United States |
| Generation | A 25-mile intrastate pipeline in northern Ohio and owned by NEXUS |
| GHG | Greenhouse gas |
| Guardian | Guardian Pipeline, L.L.C., a 263-mile interstate pipeline which connects to the Chicago Hub and serves key Upper Midwest demand centers |
| Inflation Reduction Act | The Inflation Reduction Act of 2022 (H.R. 5374) |
| Investment Grade Event | As defined in the indentures for the 2032 Notes and 2034 Notes and the Credit Agreement |
| LEAP | Louisiana Energy Access Project, a 221-mile gathering lateral pipeline that gathers Haynesville shale natural gas and delivers to markets in the Gulf Coast region |
|---|---|
| LNG | Liquefied natural gas |
| Michigan System | A 335-mile pipeline system in northern Michigan |
| Midwestern | Midwestern Gas Transmission Company, a 402-mile bi-directional interstate pipeline which connects Appalachia supply to the Midwest market region between Tennessee and the Chicago Hub |
| Millennium | Millennium Pipeline Intermediate Holdings LLC, a joint venture that, through its wholly owned subsidiary, Millennium Pipeline Company, LLC, owns a 266-mile interstate transportation pipeline and compression facilities serving markets in the northeast and supply from the northeast Marcellus region, in which DT Midstream owns a 52.5% interest |
| MVC | Minimum volume commitment |
| MVP | Mountain Valley Pipeline, a 303-mile natural gas pipeline owned by Mountain Valley Pipeline, LLC which spans from West Virginia to Virginia and transports natural gas from the Marcellus and Utica shale regions to markets in the southeastern United States |
| NEXUS | NEXUS Gas Transmission, LLC, a joint venture that owns (i) a 256-mile interstate transportation pipeline and three compression facilities that transports Utica and Marcellus shale natural gas to Ohio, Michigan and Ontario market centers and (ii) Generation, in which DT Midstream owns a 50% interest |
| OBBBA | One Big Beautiful Bill Act, which was signed into law on July 4, 2025 |
| Ohio Utica Gathering | A 26-mile gathering system, including compression and dehydration facilities, that gathers Utica shale natural gas from producer wells and delivers to a nearby processing plant |
| ONEOK | ONEOK, Inc., a publicly traded energy company engaged in the gathering, processing, storage, and transportation of natural gas, including through its ownership of ONEOK Partners Intermediate Limited Partnership and Border Midwestern Company |
| Revolving Credit Facility | DT Midstream's revolving credit facility issued under the Credit Agreement |
| SEC | Securities and Exchange Commission |
| SOFR | Secured Overnight Financing Rate |
| South Romeo | South Romeo Gas Storage Company, LLC, a joint venture which owns the Washington 28 Storage Complex, in which DT Midstream owns a 50% interest |
| Stonewall | A 68-mile gathering lateral pipeline, in which DT Midstream owns an 85% interest, that gathers Marcellus and Utica shale natural gas and delivers to the Columbia Pipeline |
| Susquehanna Gathering | A 198-mile gathering system that gathers Marcellus shale natural gas and delivers to Bluestone |
| Tennessee Pipeline | Tennessee Gas Pipeline Company, LLC, owned by Kinder Morgan, Inc. |
| Term Loan Facility | DT Midstream's term loan facility issued under the Credit Agreement, which was repaid in 2024 |
| Texas Eastern Pipeline | Texas Eastern Transmission, LP, owned by Enbridge Inc. |
| Tioga Gathering | A 4-mile gathering system that gathers shale natural gas to the Eastern Gas Transmission system |
| U.S. | United States of America |
| USD | United States Dollar ($) |
| Vector | Vector Pipeline LP, a joint venture that owns a 348-mile interstate transportation pipeline and five compression facilities connecting Illinois, Indiana, Michigan, and Ontario market centers, in which DT Midstream owns a 40% interest |
| VIE | Variable Interest Entity |
| Viking | Viking Gas Transmission Company, a 674-mile bi-directional interstate pipeline which serves key utility customers in Minnesota, Wisconsin and North Dakota |
|---|---|
| Washington 10 Storage Complex | An interstate storage system located in Michigan with 94 Bcf of storage capacity, in which DT Midstream owns a 91% interest, and associated compression facilities |
| 2029 Notes | Senior unsecured notes of $1.1 billion in aggregate principal amount due June 2029 |
| 2031 Notes | Senior unsecured notes of $1.0 billion in aggregate principal amount due June 2031 |
| 2032 Notes | Senior unsecured notes of $600 million in aggregate principal amount due April 2032 |
| 2034 Notes | Senior unsecured notes of $650 million in aggregate principal amount due December 2034 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.