Summit Midstream Corp
For the period ended Dec 31, 2024. Filed Mar 11, 2025.
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FY2024 · Filed Mar 11, 2025
SMC$27.96+3.1%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
| December 31,2024 | December 31,2023 | |
|---|---|---|
| (In thousands, except unit amounts) | ||
| ASSETS | ||
| Cash and cash equivalents | $22,822 | $14,044 |
| Restricted cash | 2,377 | 2,601 |
| Accounts receivable | 77,058 | 76,275 |
| Other current assets | 16,014 | 5,502 |
| Total current assets | 118,271 | 98,422 |
| Property, plant and equipment, net | 1,785,029 | 1,698,585 |
| Intangible assets, net | 154,279 | 175,592 |
| Investment in equity method investees | 269,561 | 486,434 |
| Other noncurrent assets | 32,344 | 35,165 |
| TOTAL ASSETS | $2,359,484 | $2,494,198 |
| LIABILITIES AND EQUITY | ||
| Trade accounts payable | $25,162 | $22,714 |
| Accrued expenses | 38,176 | 32,377 |
| Deferred revenue | 9,595 | 10,196 |
| Ad valorem taxes payable | 9,544 | 8,543 |
| Accrued compensation and employee benefits | 11,222 | 6,815 |
| Accrued interest | 21,711 | 19,298 |
| Accrued environmental remediation | 1,430 | 1,483 |
| Accrued settlement payable | 6,667 | 6,667 |
| Current portion of long-term debt | 16,580 | 15,524 |
| Other current liabilities | 34,714 | 10,395 |
| Total current liabilities | 174,801 | 134,012 |
| Deferred tax liabilities | 63,326 | 1,425 |
| Long-term debt, net | 976,995 | 1,455,166 |
| Noncurrent deferred revenue | 25,373 | 30,085 |
| Noncurrent accrued environmental remediation | 768 | 1,454 |
| Other noncurrent liabilities | 20,150 | 28,841 |
| Total liabilities | 1,261,413 | 1,650,983 |
| Commitments and contingencies (Note 10) | ||
| Mezzanine Equity | ||
| Subsidiary Series A Preferred Units (93,039 issued and outstanding as of December 31, 2024 and December 31, 2023) | 132,946 | 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 shares authorized, 65,508 issued and outstanding as of December 31, 2024) | 110,230 | — |
| Common Stock, $0.01 par value (42,000,000 authorized, 10,659,220 issued and outstanding as of December 31, 2024) | 106 | — |
| Class B Common Stock, $0.01 par value (7,471,008 shares authorized, 7,471,008 issued and outstanding as of December 31, 2024) | 75 | — |
| Additional paid-in capital | 540,714 | — |
| Accumulated deficit | (183,333) | — |
| Total Company stockholders’ equity | 467,792 | 718,563 |
| Noncontrolling interest | 497,333 | — |
| Total equity | 965,125 | 718,563 |
| TOTAL LIABILITIES AND EQUITY | $2,359,484 | $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.