DT Midstream Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	403	354	384	370	307	312
Depreciation & Amortization	262	227	200	189	184	169
Loss (Gain) From Sale of Assets	-	-	-	-17	17	-2
Loss (Gain) on Equity Investments	-138	-162	-177	-150	-126	-108
Stock-Based Compensation	25	23	20	17	12	6
Other Operating Activities	298	299	318	276	244	257
Change in Accounts Receivable	-18	11	7	8	-43	-16
Change in Accounts Payable	-10	11	-5	7	-6	-1
Change in Unearned Revenue	30	23	97	3	6	-
Change in Other Net Operating Assets	6	-23	-46	22	-23	-20
Operating Cash Flow	858	763	798	725	572	597
Operating Cash Flow Growth	7.92%	-4.39%	10.07%	26.75%	-4.19%	53.08%
Capital Expenditures	-385	-350	-772	-338	-140	-518
Cash Acquisitions	-1,188	-1,198	-	-	-	-
Investment in Securities	35	467	420	-540	-2	-30
Other Investing Activities	-	-	1	24	265	-166
Investing Cash Flow	-1,538	-1,081	-351	-854	123	-714
Short-Term Debt Issued	-	385	540	370	25	253
Long-Term Debt Issued	-	644	-	591	3,047	-
Total Debt Issued	1,069	1,029	540	961	3,072	253
Short-Term Debt Repaid	-	-400	-705	-40	-3,200	-
Long-Term Debt Repaid	-	-399	-	-596	-5	-
Total Debt Repaid	-425	-799	-705	-636	-3,205	-
Net Debt Issued (Repaid)	644	230	-165	325	-133	253
Issuance of Common Stock	406	406	-	-	110	252
Common Dividends Paid	-312	-280	-263	-244	-559	-
Other Financing Activities	-37	-26	-24	-23	-23	-392
Financing Cash Flow	701	330	-452	58	-605	113
Net Cash Flow	21	12	-5	-71	90	-4
Free Cash Flow	473	413	26	387	432	79
Free Cash Flow Growth	22.86%	1488.46%	-93.28%	-10.42%	446.83%	-55.87%
Free Cash Flow Margin	40.26%	42.10%	2.82%	42.07%	51.43%	10.48%
Free Cash Flow Per Share	4.64	4.20	0.27	3.98	4.46	0.82
Cash Interest Paid	135	140	140	125	103	113
Cash Income Tax Paid	8	12	22	24	3	3
Levered Free Cash Flow	194.38	88	-380.88	210.75	528.38	-710.13
Unlevered Free Cash Flow	291.88	183.63	-287.13	296.38	598.38	-639.5
Change in Working Capital	8	22	53	40	-66	-37

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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