Summit Midstream Corp
For the period ended Dec 31, 2025. Filed Mar 16, 2026.
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FY2025 · Filed Mar 16, 2026
SMC$27.96+3.1%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Equity
CONSOLIDATED STATEMENTS EQUITY
| Partners’ Capital (Before Corporate Reorganization) · Equity(After Corporate Reorganization) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Summit Midstream Corporation Stockholders | ||||||||||||
| Series A Preferred Units · Common Limited Partners’ Capital · Series A Preferred Stock · Common Stock Amount, at $0.01 par value · Class B Common Stock Amount, at $0.01 par value · Additional Paid in Capital · Retained Earnings (Deficit) · Non-controlling interest · Total Equity | ||||||||||||
| (In thousands) | ||||||||||||
| Partners’ capital, December 31, 2022 | $85,327 | $679,491 | $— | $— | $— | $— | $— | $— | $764,818 | |||
| Net income (loss) | 11,566 | (63,094) | — | — | — | — | — | — | (51,528) | |||
| Equity compensation | — | 6,566 | — | — | — | — | — | — | 6,566 | |||
| Tax withholdings and associated payments on vested Summit LTIP awards | — | (1,293) | — | — | — | — | — | — | (1,293) | |||
| Partners’ capital, December 31, 2023 | $96,893 | $621,670 | $— | $— | $— | $— | $— | $— | $718,563 | |||
| Net income (loss) | 7,668 | 47,837 | 5,669 | — | — | (183,333) | (5,822) | (127,981) | ||||
| Equity compensation | — | 5,415 | — | — | — | 3,146 | — | — | 8,561 | |||
| Tax withholdings and associated payments on vested Summit LTIP awards | — | (1,882) | — | — | — | (144) | — | — | (2,026) | |||
| Corporate Reorganization | (104,561) | (673,040) | 104,561 | 106 | — | 672,934 | — | — | — | |||
| Tax impact of Corporate Reorganization | — | — | — | — | — | 32,349 | — | — | 32,349 | |||
| Tax impact of Up-C Structure | — | — | — | — | — | 52,582 | — | — | 52,582 | |||
| Issuance of noncontrolling interest (Tall Oak Acquisition) | — | — | — | — | 75 | (220,153) | — | 503,155 | 283,077 | |||
| Equity, December 31, 2024 | $— | $— | $110,230 | $106 | $75 | $540,714 | $(183,333) | $497,333 | $965,125 | |||
| Net income (loss) | — | — | 13,631 | — | — | — | (19,569) | (10,831) | (16,769) | |||
| Dividend paid on Series A Preferred Stock | — | — | (13,393) | — | — | — | — | — | (13,393) | |||
| Equity compensation | — | — | — | — | — | 7,798 | — | — | 7,798 | |||
| Tax withholdings and associated payments on vested Summit LTIP awards | — | — | — | 1 | — | (3,118) | — | — | (3,117) | |||
| Moonrise Acquisition | — | — | — | 5 | — | 17,890 | — | — | 17,895 | |||
| Conversion of Class B Common Stock and Partnership Common Units | — | — | — | 10 | (10) | — | — | — | — | |||
| Tax impact of Up-C Structure | — | — | — | — | — | (10,983) | — | — | (10,983) | |||
| Equity shift | — | — | — | — | — | 86,126 | — | (86,126) | — | |||
| Equity, December 31, 2025 | $— | $— | $110,468 | $122 | $65 | $638,427 | $(202,902) | $400,376 | $946,556 | |||
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