v3.25.2
SEGMENT AND RELATED INFORMATION
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
SEGMENT AND RELATED INFORMATION SEGMENT AND RELATED INFORMATION
We set strategic goals, allocate resources, and evaluate performance based on the following two segments: Pipeline and Gathering.
The Pipeline segment owns and operates interstate and intrastate natural gas pipelines, storage systems, and natural gas gathering lateral pipelines. The Pipeline segment also has interests in equity method investees that own and operate interstate natural gas pipelines. The segment is engaged in the transportation and storage of natural gas for intermediate and end user customers. The Midwest Pipeline Acquisition assets and results of operations after the December 31, 2024 acquisition date are presented in our Pipeline segment.
The Gathering segment owns and operates gas gathering systems. The segment is engaged in collecting natural gas from points at or near customers’ wells for delivery to plants for treating, to gathering pipelines for further gathering, or to pipelines for transportation, as well as associated ancillary services, including compression, dehydration, gas treatment, water impoundment, water transportation, water disposal, and sand mining. The Clean Fuels Gathering assets and results of operations after the July 1, 2024 acquisition date are presented in our Gathering segment.
Inter-segment billing for goods and services exchanged between segments is based upon contracted prices of the provider. Inter-segment billings were not significant for the three and six months ended June 30, 2025 and 2024.
Financial data for our business segments follows:
Three Months Ended June 30, 2025
PipelineGathering
Total Reportable Segments
Eliminations
Total Consolidated
(millions)
Revenues
Operating revenues$176 $133 $309 $— $309 
Operating Expenses
Operation and maintenance34 46 80 — 80 
Depreciation and amortization28 35 63 — 63 
Taxes other than income7 4 11 — 11 
Other (Income) and Deductions
Interest expense11 29 40 — 40 
Earnings from equity method investees(30)— (30)— (30)
Income tax expense 29 5 34 — 34 
Less: Net Income Attributable to Noncontrolling Interests
4 — 4 — 4 
Net Income Attributable to DT Midstream$93 $14 $107 $— $107 
Capital expenditures$20 $61 $81 $— $81 
Three Months Ended June 30, 2024
PipelineGathering
Total Reportable Segments
Eliminations
Total Consolidated
(millions)
Revenues
Operating revenues$109 $135 $244 $— $244 
Operating Expenses
Operation and maintenance15 37 52 — 52 
Depreciation and amortization19 34 53 — 53 
Taxes other than income5 4 9 — 9 
Other (Income) and Deductions
Interest expense12 27 39 — 39 
Earnings from equity method investees(39)— (39)— (39)
Other income(2)(1)(3)— (3)
Income tax expense 24 9 33 — 33 
Less: Net Income Attributable to Noncontrolling Interests
4 — 4 — 4 
Net Income Attributable to DT Midstream$71 $25 $96 $— $96 
Capital expenditures$18 $63 $81 $— $81 
Six Months Ended June 30, 2025
PipelineGathering
Total Reportable Segments
Eliminations
Total Consolidated
(millions)
Revenues
Operating revenues$345 $267 $612 $— $612 
Operating Expenses
Operation and maintenance66 92 158 — 158 
Depreciation and amortization56 70 126 — 126 
Taxes other than income16 9 25 — 25 
Other (Income) and Deductions
Interest expense24 56 80 — 80 
Interest income(1)— (1)— (1)
Earnings from equity method investees(67)— (67)— (67)
Income tax expense 59 10 69 — 69 
Less: Net Income Attributable to Noncontrolling Interests
7— 7 — 7 
Net Income Attributable to DT Midstream$185 $30 $215 $— $215 
Capital expenditures$44 $108 $152 $— $152 
June 30, 2025
Investments in equity method investees$1,288 $— $1,288 $— $1,288 
Total Assets$5,262 $4,698 $9,960 $— $9,960 
Six Months Ended June 30, 2024
PipelineGathering
Total Reportable Segments
Eliminations
Total Consolidated
(millions)
Revenues
Operating revenues$216 $268 $484 $— $484 
Operating Expenses
Operation and maintenance31 75 106 — 106 
Depreciation and amortization37 66 103 — 103 
Taxes other than income11 10 21 — 21 
Other (Income) and Deductions
Interest expense25 54 79 — 79 
Interest income(1)— (1)— (1)
Earnings from equity method investees(85)— (85)— (85)
Other income(2)(1)(3)— (3)
Income tax expense 48 16 64 — 64 
Less: Net Income Attributable to Noncontrolling Interests
7 — 7 — 7 
Net Income Attributable to DT Midstream$145 $48 $193 $— $193 
Capital expenditures$39 $140 $179 $— $179 
December 31, 2024
Investments in equity method investees$1,297 $— $1,297 $— $1,297 
Total Assets$5,274 $4,661 $9,935 $— $9,935