Summit Midstream Corp
For the period ended Sep 30, 2024. Filed Nov 12, 2024.
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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.
Sep 30, 2024 · Filed Nov 12, 2024
SMC$30.30+8.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Unaudited Condensed Consolidated Balance Sheets
| September 30,2024 | December 31,2023 | |
|---|---|---|
| (In thousands, except share amounts) | ||
| ASSETS | ||
| Cash and cash equivalents | $17,842 | $14,044 |
| Restricted cash | 126,524 | 2,601 |
| Accounts receivable | 60,567 | 76,275 |
| Other current assets | 9,080 | 5,502 |
| Total current assets | 214,013 | 98,422 |
| Property, plant and equipment, net | 1,350,758 | 1,698,585 |
| Intangible assets, net | 140,009 | 175,592 |
| Investment in equity method investees | 269,939 | 486,434 |
| Other noncurrent assets | 24,447 | 35,165 |
| TOTAL ASSETS | $1,999,166 | $2,494,198 |
| LIABILITIES AND EQUITY | ||
| Trade accounts payable | $12,932 | $22,714 |
| Accrued expenses | 29,645 | 32,377 |
| Deferred revenue | 9,470 | 10,196 |
| Ad valorem taxes payable | 7,229 | 8,543 |
| Accrued compensation and employee benefits | 7,173 | 6,815 |
| Accrued interest | 14,603 | 19,298 |
| Accrued environmental remediation | 1,409 | 1,483 |
| Accrued settlement payable | 6,715 | 6,667 |
| Current portion of long-term debt | 130,512 | 15,524 |
| Other current liabilities | 11,278 | 10,395 |
| Total current liabilities | 230,966 | 134,012 |
| Deferred tax liabilities | 115,552 | 1,425 |
| Long-term debt, net | 826,453 | 1,455,166 |
| Noncurrent deferred revenue | 26,176 | 30,085 |
| Noncurrent accrued environmental remediation | 989 | 1,454 |
| Other noncurrent liabilities | 16,136 | 28,841 |
| TOTAL LIABILITIES | 1,216,272 | 1,650,983 |
| Commitments and contingencies (Note 14) | ||
| Mezzanine Equity | ||
| Subsidiary Series A Preferred Units (93,039 issued and outstanding as of September 30, 2024 and December 31, 2023, respectively) | 131,410 | 124,652 |
| Equity | ||
| Series A Preferred Units (65,508 issued and outstanding as of December 31, 2023) | — | 96,893 |
| Common limited partner capital (10,376,189 issued and outstanding as of December 31, 2023) | — | 621,670 |
| Series A Preferred Stock (65,508 issued and outstanding as of September 30, 2024) | 106,819 | — |
| Common stock, $0.01 par value (10,648,685 issued and outstanding as of September 30, 2024) | 106 | — |
| Additional paid-in capital | 702,357 | — |
| Accumulated deficit | (157,798) | — |
| Total Equity | 651,484 | 718,563 |
| TOTAL LIABILITIES AND EQUITY | $1,999,166 | $2,494,198 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.