DT Midstream (DTM) 10-Q 29 Oct 24 2024 Q3 Quarterly report Financial data

Cover

Cover	9 Months Ended
	Sep. 30, 2024 shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-40392
Entity Registrant Name	DT Midstream, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	38-2663964
Entity Address, Address Line One	500 Woodward Ave., Suite 2900
Entity Address, City or Town	Detroit
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	48226-1279
City Area Code	313
Local Phone Number	402-8532
Title of 12(b) Security	Common stock, par value $0.01
Trading Symbol	DTM
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	97,156,144
Entity Central Index Key	0001842022
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues
Operating revenues	$ 248	$ 234	$ 732	$ 678
Operating Expenses
Operation and maintenance	63	58	169	176
Depreciation and amortization	53	46	156	133
Taxes other than income	10	7	31	22
Asset (gains) losses and impairments, net	0	(1)	0	(4)
Operating Income	122	124	376	351
Other (Income) and Deductions
Interest expense	38	38	117	111
Interest income	(1)	0	(2)	(1)
Earnings from equity method investees	(40)	(41)	(125)	(132)
Loss from financing activities	4	0	4	0
Other (income) and expense	0	0	(3)	(1)
Income Before Income Taxes	121	127	385	374
Income Tax Expense	30	33	94	102
Net Income	91	94	291	272
Less: Net Income Attributable to Noncontrolling Interests	3	3	10	9
Net Income Attributable to DT Midstream	$ 88	$ 91	$ 281	$ 263
Basic Earnings per Common Share
Net Income Attributable to DT Midstream (in dollars per share)	$ 0.91	$ 0.94	$ 2.90	$ 2.72
Diluted Earnings per Common Share
Net Income Attributable to DT Midstream (in dollars per share)	$ 0.90	$ 0.94	$ 2.87	$ 2.70
Weighted Average Common Shares Outstanding
Basic (in shares)	97.1	97	97.1	96.9
Diluted (in shares)	98	97.5	97.8	97.4

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net Income	$ 91	$ 94	$ 291	$ 272
Foreign currency translation and unrealized gain on derivatives, net of tax	1	0	1	1
Other comprehensive income	1	0	1	1
Comprehensive income	92	94	292	273
Less: Comprehensive income attributable to noncontrolling interests	3	3	10	9
Comprehensive Income Attributable to DT Midstream	$ 89	$ 91	$ 282	$ 264

Consolidated Statements of Fina

Consolidated Statements of Financial Position - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Current Assets
Cash and cash equivalents	$ 77	$ 56
Accounts receivable (net of $— allowance for expected credit loss for each period end)	137	154
Deferred property taxes	8	31
Taxes receivable	6	15
Prepaid expenses and other	21	16
Total Current Assets	249	272
Investments
Investments in equity method investees	1,301	1,762
Property
Property, plant, and equipment	5,508	5,282
Accumulated depreciation	(959)	(848)
Net Property, plant, and equipment	4,549	4,434
Other Assets
Goodwill	473	473
Long-term notes receivable — related party	4	4
Operating lease right-of-use assets	47	38
Intangible assets, net	1,925	1,968
Other	39	31
Total Other Assets	2,488	2,514
Total Assets	8,587	8,982
Current Liabilities
Accounts payable	67	94
Short-term borrowings	0	165
Operating lease liabilities	15	13
Dividends payable	71	67
Interest payable	38	10
Property taxes payable	25	34
Accrued compensation	14	18
Contract liabilities	18	18
Other	14	15
Total Current Liabilities	262	434
Long-Term Debt, net	2,674	3,065
Other Liabilities
Deferred income taxes	1,108	1,031
Operating lease liabilities	34	27
Contract liabilities	128	111
Other	25	34
Total Other Liabilities	1,295	1,203
Total Liabilities	4,231	4,702
Commitments and Contingencies (Note 10)
Stockholders' Equity
Preferred stock ($0.01 par value, 50,000,000 shares authorized, and no shares issued or outstanding as of September 30, 2024 and December 31, 2023)	0	0
Common stock ($0.01 par value, 550,000,000 shares authorized, and 97,156,144 and 96,971,021 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively)	1	1
Additional paid-in capital	3,498	3,485
Retained earnings	726	661
Accumulated other comprehensive income (loss)	(7)	(8)
Total DT Midstream Equity	4,218	4,139
Noncontrolling interests	138	141
Total Equity	4,356	4,280
Total Liabilities and Equity	$ 8,587	$ 8,982

Consolidated Statements of Fi_2

Consolidated Statements of Financial Position (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Current Assets
Allowance for expected credit loss	$ 0	$ 0
Stockholders' Equity
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	550,000,000	550,000,000
Common stock, shares issued (in shares)	97,156,144	96,971,021
Common stock, shares outstanding (in shares)	97,156,144	96,971,021

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Operating Activities
Net Income	$ 291	$ 272
Adjustments to reconcile Net Income to Net cash and cash equivalents from operating activities:
Depreciation and amortization	156	133
Stock-based compensation	17	15
Amortization of operating lease right-of-use assets	13	14
Deferred income taxes	78	91
Earnings from equity method investees	(125)	(132)
Dividends from equity method investees	123	152
Loss from financing activities	4	0
Changes in assets and liabilities:
Accounts receivable, net	16	15
Accounts payable	6	(4)
Interest payable	28	29
Contract liabilities	16	60
Other current and noncurrent assets and liabilities	(12)	(31)
Net cash and cash equivalents from operating activities	611	614
Investing Activities
Plant and equipment expenditures	(260)	(622)
Distributions from equity method investees	467	405
Contributions to equity method investees	(4)	(6)
Net cash and cash equivalents from (used for) investing activities	203	(223)
Financing Activities
Repayment of long-term debt	(399)	0
Borrowings under the Revolving Credit Facility	195	390
Repayment of borrowings under the Revolving Credit Facility	(360)	(595)
Distributions to noncontrolling interests	(14)	(14)
Contributions from noncontrolling interests	1	0
Dividends paid on common stock	(209)	(196)
Other financing activities	(7)	(7)
Net cash and cash equivalents from (used for) financing activities	(793)	(422)
Net Increase (Decrease) in Cash and Cash Equivalents	21	(31)
Cash and Cash Equivalents at Beginning of Period	56	61
Cash and Cash Equivalents at End of Period	77	30
Cash paid for:
Interest, net of interest capitalized	80	76
Income taxes	7	21
Supplemental disclosure of non-cash investing and financing activities
Plant and equipment expenditures in accounts payable and other accrued liabilities	$ 47	$ 109

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Millions	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interests
Beginning balance (in shares) at Dec. 31, 2022		96,755,000
Beginning balance at Dec. 31, 2022	$ 4,154	$ 1	$ 3,469	$ 547	$ (10)	$ 147
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	84			81		3
Dividends declared on common stock	(67)			(67)
Distributions to noncontrolling interests	(8)					(8)
Stock-based compensation (in shares)		135,000
Stock-based compensation	1		1
Other comprehensive income, net of tax	1				1
Ending balance (in shares) at Mar. 31, 2023		96,890,000
Ending balance at Mar. 31, 2023	4,165	$ 1	3,470	561	(9)	142
Beginning balance (in shares) at Dec. 31, 2022		96,755,000
Beginning balance at Dec. 31, 2022	4,154	$ 1	3,469	547	(10)	147
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	272
Other comprehensive income, net of tax	1
Ending balance (in shares) at Sep. 30, 2023		96,971,000
Ending balance at Sep. 30, 2023	4,221	$ 1	3,479	608	(9)	142
Beginning balance (in shares) at Mar. 31, 2023		96,890,000
Beginning balance at Mar. 31, 2023	4,165	$ 1	3,470	561	(9)	142
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	94			91		3
Dividends declared on common stock	(67)			(67)
Distributions to noncontrolling interests	(2)					(2)
Stock-based compensation (in shares)		12,000
Stock-based compensation	5		6	(1)
Ending balance (in shares) at Jun. 30, 2023		96,902,000
Ending balance at Jun. 30, 2023	4,195	$ 1	3,476	584	(9)	143
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	94			91		3
Dividends declared on common stock	(67)			(67)
Distributions to noncontrolling interests	(4)					(4)
Stock-based compensation (in shares)		69,000
Stock-based compensation	3		3
Other comprehensive income, net of tax	0
Ending balance (in shares) at Sep. 30, 2023		96,971,000
Ending balance at Sep. 30, 2023	4,221	$ 1	3,479	608	(9)	142
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared on common stock	$ (67)
Ending balance (in shares) at Dec. 31, 2023	96,971,021	96,971,000
Ending balance at Dec. 31, 2023	$ 4,280	$ 1	3,485	661	(8)	141
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	100			97		3
Dividends declared on common stock	(71)			(71)
Distributions to noncontrolling interests	(4)					(4)
Stock-based compensation (in shares)		138,000
Stock-based compensation	1		2	(1)
Ending balance (in shares) at Mar. 31, 2024		97,109,000
Ending balance at Mar. 31, 2024	$ 4,306	$ 1	3,487	686	(8)	140
Beginning balance (in shares) at Dec. 31, 2023	96,971,021	96,971,000
Beginning balance at Dec. 31, 2023	$ 4,280	$ 1	3,485	661	(8)	141
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	291
Other comprehensive income, net of tax	$ 1
Ending balance (in shares) at Sep. 30, 2024	97,156,144	97,156,000
Ending balance at Sep. 30, 2024	$ 4,356	$ 1	3,498	726	(7)	138
Beginning balance (in shares) at Mar. 31, 2024		97,109,000
Beginning balance at Mar. 31, 2024	4,306	$ 1	3,487	686	(8)	140
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	100			96		4
Dividends declared on common stock	(71)			(71)
Distributions to noncontrolling interests	(5)					(5)
Contributions from noncontrolling interests	1					1
Stock-based compensation (in shares)		3,000
Stock-based compensation	6		7	(1)
Ending balance (in shares) at Jun. 30, 2024		97,112,000
Ending balance at Jun. 30, 2024	4,337	$ 1	3,494	710	(8)	140
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	91			88		3
Dividends declared on common stock	(71)			(71)
Distributions to noncontrolling interests	(5)					(5)
Stock-based compensation (in shares)		44,000
Stock-based compensation	3		4	(1)
Other comprehensive income, net of tax	$ 1				1
Ending balance (in shares) at Sep. 30, 2024	97,156,144	97,156,000
Ending balance at Sep. 30, 2024	$ 4,356	$ 1	$ 3,498	$ 726	$ (7)	$ 138

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Dividends declared on common stock (in dollars per share)	$ 0.735	$ 0.735	$ 0.735	$ 0.69	$ 0.69	$ 0.69	$ 0.69

DESCRIPTION OF THE BUSINESS AND

DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION	DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION Description of the Business DT Midstream is an owner, operator, and developer of an integrated portfolio of natural gas midstream assets. We provide multiple, integrated natural gas services to customers through two segments: (i) Pipeline, which includes interstate pipelines, intrastate pipelines, storage systems, gathering lateral pipelines including related treatment plants and compression and surface facilities, and (ii) Gathering, which includes gathering systems, related treatment plants, and compression and surface facilities. Our Pipeline segment also includes joint venture interests in equity method investees which own and operate interstate pipelines that connect to our wholly owned assets. Our core assets strategically connect key demand centers in the Midwestern U.S., Eastern Canada and Northeastern U.S. regions to the premium production areas of the Marcellus/Utica natural gas formation in the Appalachian Basin, and connect key demand centers and LNG export terminals in the Gulf Coast region to premium production areas of the Haynesville natural gas formation. Basis of Presentation The DT Midstream Consolidated Financial Statements and Notes to Consolidated Financial Statements are prepared under GAAP. These accounting principles require management to use estimates and assumptions that impact reported amounts of assets, liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities. Actual results may differ from our estimates. We believe the assumptions underlying these financial statements are reasonable. In our opinion, the accompanying unaudited Consolidated Financial Statements include all adjustments, consisting of normal recurring adjustments, necessary to present a fair statement of our financial position as of September 30, 2024, results of operations for the three and nine months ended September 30, 2024 and 2023, statement of changes in stockholders' equity for the three and nine months ended September 30, 2024 and 2023, and cash flows for the nine months ended September 30, 2024 and 2023. The balance sheet as of December 31, 2023 was derived from audited annual financial statements but does not include all disclosures required by GAAP. Financial results for this interim period are not necessarily indicative of results that may be expected for any other interim period or for the year ending December 31, 2024. The Consolidated Financial Statements should be read in conjunction with DT Midstream's Consolidated Financial Statements and Notes to Consolidated Financial Statements included in DT Midstream's 2023 Annual Report on Form 10-K. Principles of Consolidation We consolidate all majority-owned subsidiaries and investments in entities in which we have a controlling influence. Non-controlled investments are accounted for using the equity method of accounting when we are able to significantly influence the operating policies of the investee. When we do not influence the operating policies of an investee, the equity investment is measured at fair value, if readily determinable, or if not readily determinable, at cost less impairment, if applicable. We eliminate all intercompany balances and transactions. We evaluate whether an entity is a VIE whenever reconsideration events occur. We consolidate VIEs for which we are the primary beneficiary. When assessing the determination of the primary beneficiary, we consider all relevant facts and circumstances, including: the power, through voting or similar rights, to direct the activities of the VIE that most significantly impact the VIE's economic performance and the obligation to absorb the expected losses and/or the right to receive the expected returns of the VIE. We perform ongoing reassessments of all VIEs to determine if the primary beneficiary status has changed. We own an 85% interest in the Stonewall VIE and are the primary beneficiary, therefore Stonewall is consolidated. We own a 50% interest in the South Romeo VIE and are the primary beneficiary, therefore South Romeo is consolidated. The following table summarizes the major line items in the Consolidated Statements of Financial Position for consolidated VIEs as of September 30, 2024 and December 31, 2023. All assets and liabilities of a consolidated VIE are included in the table when it has been determined that a consolidated VIE has either (1) assets that can be used only to settle obligations of the VIE or (2) liabilities for which creditors do not have recourse to the general credit of the primary beneficiary. The assets and liabilities of consolidated VIEs that meet the definition of a business and whose assets can be used for purposes other than the settlement of the VIEs' obligations have been excluded from the table below. September 30, December 31, 2024 2023 (millions) ASSETS (a) Cash $ 10 $ 13 Accounts receivable 9 10 Other current assets 1 2 Intangible assets, net 472 483 Property, plant and equipment, net 388 391 Goodwill 25 25 $ 905 $ 924 LIABILITIES (a) Accounts payable and other current liabilities $ 3 $ 4 Other noncurrent liabilities 3 3 $ 6 $ 7 _____________________________________ (a) Amounts shown are 100% of the consolidated VIEs' assets and liabilities. Related Parties Transactions between DT Midstream and our equity method investees have been presented as related party transactions in the accompanying Consolidated Financial Statements. Equity Method Investments Non-controlled investments are accounted for using the equity method of accounting when we are able to significantly influence the operating policies of the investee. Under the equity method of accounting, investments are recorded at historical cost as an asset and adjusted for capital contributions, dividends and distributions received, and our share of the investee's earnings or losses, which are recorded as earnings from equity method investees on the Consolidated Statements of Operations. Equity method investments and related activity are included in the Pipeline segment. Our equity method investments are periodically evaluated for certain factors that may be indicative of other-than-temporary impairment. As of September 30, 2024 and December 31, 2023, our carrying amounts of investments in equity method investees exceeded our share of the underlying equity in the net assets of the investees by $340 million and $352 million, respectively. The difference will be amortized over the life of the underlying assets. As of both September 30, 2024 and December 31, 2023, our consolidated retained earnings balance did not have undistributed earnings from equity method investments. We use the cumulative earnings approach to classify proceeds received from equity method investees as dividends or distributions on the Consolidated Statements of Cash Flows. Equity method investees are described below: Investments As of % Owned As of September 30, December 31, September 30, December 31, Equity Method Investee 2024 2023 2024 2023 (millions) NEXUS $ 882 $ 900 50% 50% Vector 134 135 40% 40% Millennium 285 727 52.5% 52.5% Total investments in equity method investees $ 1,301 $ 1,762 In September 2024, Millennium closed on the sale of $800 million of senior unsecured notes with a weighted-average coupon rate of 5.88%. We received a distribution from Millennium of $416 million, net of fees and expenses, which reduced our investment balance. We used the proceeds from the distribution to repay our existing indebtedness under our Term Loan Facility and for general corporate purposes. In May 2023, NEXUS closed on the sale of $750 million of senior unsecured notes with a weighted-average coupon rate of 5.52%. We received a distribution from NEXUS of $371 million, net of fees and expenses, which reduced our investment balance. We used the proceeds from the distribution to repay borrowings outstanding under our Revolving Credit Facility. The following table presents summarized financial information of our non-consolidated equity method investees. The amounts included below represent 100% of the results of continuing operations of such entities, including the portion owned by other parties. Summarized income statement data is as follows: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (millions) Operating revenues $ 201 $ 201 $ 613 $ 611 Operating expenses 95 94 283 282 Net Income $ 86 $ 91 $ 280 $ 292

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES Cash and Cash Equivalents Cash and cash equivalents include cash in banks and highly liquid money market investments with remaining maturities of three months or less, when purchased. Cash equivalents are stated at cost, which approximates fair value. Financing Receivables Financing receivables are primarily composed of trade accounts receivable and notes receivable, which are stated at net realizable value. We regularly monitor the credit quality of our financing receivables by reviewing counterparty credit quality indicators and monitoring for triggering events, such as a credit rating downgrade or bankruptcy. We have three internal grades of credit quality, with internal grade 1 as the lowest risk and internal grade 3 as the highest risk. The related credit quality indicators and risk ratings utilized to develop the internal grades have been updated through September 30, 2024. As of September 30, 2024, the Notes receivable — related party of $4 million, which originated prior to 2021, was classified as internal grade 1. There are no notes receivable on nonaccrual status and no past due financing receivables as of September 30, 2024. For trade accounts receivable, the customer allowance for expected credit loss is calculated based on specific review of future collections based on receivable balances generally in excess of 30 days. Existing and future economic conditions, historical loss rates, customer trends and other relevant factors that may affect our ability to collect are also considered. Receivables are written off on a specific identification basis and determined based on the particular circumstances of the associated receivable. Uncollectible expense (recovery) was zero for each of the three and nine months ended September 30, 2024 and 2023. Our collections on accounts receivable from customers are current, and no material rate of historical loss was noted, which resulted in no allowance for expected credit loss as of September 30, 2024 or December 31, 2023. Any balance would be shown as a deduction from the respective financing receivable's balance in the Consolidated Statements of Financial Position. Operation and Maintenance

NEW ACCOUNTING PRONOUNCEMENTS

NEW ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Sep. 30, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]
NEW ACCOUNTING PRONOUNCEMENTS	NEW ACCOUNTING PRONOUNCEMENTS Recently Issued Pronouncements In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures . The amendments improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses and interim disclosure requirements. The amendments are effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. We continue to evaluate the impact of this standard's adoption on our Consolidated Financial Statements. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740) - Improvements to Income Tax Disclosures. The amendments improve transparency of income tax disclosure requirements, primarily through enhanced disclosures of rate reconciliation and income taxes paid. The amendments are effective for annual periods beginning after December 15, 2024. Early adoption is permitted. We continue to evaluate the impact of this standard's adoption on our Consolidated Financial Statements.

GOODWILL

GOODWILL	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	GOODWILL We have goodwill that resulted from business combinations. The carrying value of goodwill is evaluated for impairment on an annual basis or whenever events or circumstances indicate that the value of goodwill may be impaired. We performed our prior year annual impairment test as of October 1, 2023 and determined that the estimated fair value of each reporting unit exceeded its carrying value, and no impairment existed. No additions, impairments or other changes occurred during the three and nine months ended September 30, 2024. The following is the summary of the carrying value of goodwill: September 30, December 31, 2024 2023 (millions) Pipeline $ 53 $ 53 Gathering 420 420 Total goodwill $ 473 $ 473 While we believe the estimates and assumptions in the estimated fair value are reasonable, the actual results may differ from projections. To the extent projected results or cash flows are revised downward, the reporting unit may be required to write down all or a portion of its goodwill, which would adversely impact our earnings. If current expectations of future long-term growth are not met or market factors outside of our control change, such as U.S. Treasury Rates or declines in midstream industry transaction multiples, this may lead to a goodwill impairment in the future.

REVENUE

REVENUE	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE Disaggregation of Revenue The following is a summary of revenues disaggregated by segment: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (millions) Pipeline (a) $ 112 $ 96 $ 328 $ 271 Gathering 136 138 404 407 Total operating revenues $ 248 $ 234 $ 732 $ 678 __________________________________ (a) Includes revenues outside the scope of ASC 606 primarily related to contracts accounted for as leases of $2 million for both the three months ended September 30, 2024 and 2023, and $6 million and $5 million for the nine months ended September 30, 2024 and 2023, respectively. Nature of Services We primarily provide two types of revenue services: firm service and interruptible service. Firm service revenue contracts provide for fixed revenue commitments regardless of actual volumes of natural gas that flow, which leads to more stable operating performance, revenues and cash flows and limits our exposure to natural gas price fluctuations. Firm service revenue contracts are typically long-term and structured using fixed demand charges or MVCs with fixed deficiency fee rates. Contracts structured using fixed demand charges contain a performance obligation of a stand-ready series of distinct services that are substantially the same with the same pattern of transfer to the customer, therefore revenue is recognized ratably over time. Contracts structured using MVCs with fixed deficiency fee rates require customers to transport or store a minimum volume of natural gas over a specified time period. If a customer fails to meet its MVCs for the specified time period, the contract consideration includes a fixed rate for the actual volumes gathered, transported or stored, and a deficiency fee for the shortfall between the MVCs and the actual volumes gathered, transported, or stored. If a customer exceeds its MVC for the specified time period, the contract consideration is based on fixed rates for the actual volumes gathered, transported, or stored. The contract consideration is allocated to each distinct monthly performance obligation, consistent with the allocation objective and based upon the level of effort required to satisfy the service obligation. Revenues are generally recognized over time based on the output measure of natural gas volumes gathered, transported, or stored, with the recognition of the deficiency fee revenue in the period when it is known the customer cannot make up the deficient volumes in the specified time period. Interruptible service revenue contracts typically contain fixed rates, with total consideration dependent on actual natural gas volumes that flow. Interruptible service revenues are recognized over time based on the output measure of natural gas volumes gathered, transported, or stored. Certain of our gathering contracts allow for the recovery of production-related operating expenses, which are offsetting in revenue and operating expense. Contract Liabilities The following is a summary of contract liability activity: 2024 (millions) Balance as of January 1 $ 129 Increases due to cash received or receivable, excluding amounts recognized as revenue during the period 36 Revenue recognized that was included in the balance at the beginning of the period (19) Balance as of September 30 $ 146 Contract liabilities generally represent amounts paid by or receivable from customers for which the associated performance obligation has not yet been satisfied. Contract liabilities associated with these services are recognized upon delivery of the service to the customer. The following table presents contract liability amounts as of September 30, 2024 that are expected to be recognized as revenue in future periods: (millions) Remainder of 2024 $ 4 2025 17 2026 17 2027 17 2028 15 2029 and thereafter 76 Total $ 146 Transaction Price Allocated to the Remaining Performance Obligations In accordance with optional exemptions available under ASC 606, we do not disclose the value of unsatisfied performance obligations for (1) contracts with an original expected length of one year or less, (2) with the exception of fixed consideration, contracts for which the amount of revenue recognized depends upon our invoices for actual volumes gathered, transported, or stored, and (3) contracts for which variable consideration relates entirely to an unsatisfied performance obligation. Such contracts consist of various types of performance obligations, including providing midstream services. Contracts with variable volumes and/or variable pricing, including those with pricing provisions tied to a consumer price or other index, have also been excluded as the related contract consideration is variable at the contract inception. Contract lengths vary from cancellable to multi-year. The following table presents revenue amounts related to fixed consideration associated with unsatisfied performance obligations as of September 30, 2024 that are expected to be recognized as revenue in future periods: (millions) Remainder of 2024 $ 35 2025 150 2026 128 2027 97 2028 65 2029 and thereafter 229 Total $ 704 Costs to Obtain or Fulfill a Contract We recognize an asset from the costs incurred to obtain a revenue contract only if we expect to recover those costs. In addition, the costs to fulfill a revenue contract are capitalized if the costs are specifically identifiable to a revenue contract, would result in enhancing resources that will be used in satisfying performance obligations in the future, and are expected to be recovered. These capitalized costs are amortized on a systematic basis consistent with the pattern of transfer of the services to which such costs relate.

EARNINGS PER SHARE AND DIVIDEND

EARNINGS PER SHARE AND DIVIDENDS	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
EARNINGS PER SHARE AND DIVIDENDS	EARNINGS PER SHARE AND DIVIDENDS Basic earnings per share is calculated by dividing Net Income attributable to DT Midstream by the weighted-average number of common shares outstanding during the period. Diluted earnings per share reflect the dilution that would occur if any potentially dilutive instruments were exercised or converted into common shares, using the treasury stock method. Restricted stock units and performance share awards, including dividend equivalents on those grants, are potentially dilutive and, if dilutive, are included in the determination of weighted-average shares outstanding. Restricted stock units and performance share awards do not receive cash dividends, as such, these awards are not considered participating securities. The following is a reconciliation of basic and diluted earnings per share: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (millions, except per share amounts) Basic and Diluted Earnings per Common Share Net Income Attributable to DT Midstream $ 88 $ 91 $ 281 $ 263 Average number of common shares outstanding — basic 97.1 97.0 97.1 96.9 Incremental shares attributable to: Average dilutive restricted stock units and performance share awards 0.9 0.5 0.7 0.5 Average number of common shares outstanding — diluted 98.0 97.5 97.8 97.4 Basic Earnings per Common Share $ 0.91 $ 0.94 $ 2.90 $ 2.72 Diluted Earnings per Common Share $ 0.90 $ 0.94 $ 2.87 $ 2.70 We declared the following cash dividends: Dividends Declared Dividend Amount Dividend Payment Date (quarter ended) (per-share) (millions) 2023 March 31 $ 0.69 $ 67 April 2023 June 30 $ 0.69 $ 67 July 2023 September 30 $ 0.69 $ 67 October 2023 December 31 $ 0.69 $ 67 January 2024 2024 March 31 $ 0.735 $ 71 April 2024 June 30 $ 0.735 $ 71 July 2024 September 30 $ 0.735 $ 71 October 2024

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Effective Tax Rates We record income taxes during the interim period using an estimated annual ETR and recognize specific events discretely as they occur. The interim period ETRs of DT Midstream were 24% and 26% for the three months ended September 30, 2024 and 2023, respectively, and 24% and 27% for the nine months ended September 30, 2024 and 2023, respectively.

FAIR VALUE

FAIR VALUE	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE	FAIR VALUE Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date in a principal or most advantageous market. Fair value is a market-based measurement that is determined based on inputs, which refer broadly to assumptions that market participants use in pricing assets or liabilities. These inputs can be readily observable, market corroborated, or generally unobservable inputs. We make certain assumptions we believe that market participants would use in pricing assets or liabilities, including assumptions about risk, and the risks inherent in the inputs to valuation techniques. We believe we use valuation techniques that maximize the use of observable market-based inputs and minimize the use of unobservable inputs. A fair value hierarchy has been established that prioritizes the inputs to valuation techniques used to measure fair value in three broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). In some cases, the inputs used to measure fair value might fall in different levels of the fair value hierarchy. All assets and liabilities are required to be classified in their entirety based on the lowest level of input that is significant to the fair value measurement in its entirety. Assessing the significance of a particular input may require judgment considering factors specific to the asset or liability and may affect the valuation of the asset or liability and its placement within the fair value hierarchy. We classify fair value balances based on the fair value hierarchy defined as follows: • Level 1 — Consists of unadjusted quoted prices in active markets for identical assets or liabilities that we have the ability to access as of the reporting date. • Level 2 — Consists of inputs other than quoted prices included within Level 1 that are directly observable for the assets or liabilities or indirectly observable through corroboration with observable market data. • Level 3 — Consists of unobservable inputs for assets or liabilities whose fair value is estimated based on internally developed models or methodologies using inputs that are generally less readily observable and supported by little, if any, market activity at the measurement date. Unobservable inputs are developed based on the best available information and subject to cost-benefit constraints. Fair Value of Financial Instruments The following table presents the carrying amount and fair value of financial instruments: September 30, 2024 December 31, 2023 Carrying Fair Value Carrying Fair Value Amount Level 1 Level 2 Level 3 Amount Level 1 Level 2 Level 3 (millions) Cash equivalents (a) $ 34 $ — $ 34 $ — $ 36 $ — $ 36 $ — Long-term notes receivable — related party 4 — — 4 4 — — 4 Short-term borrowings (a) — — — — 165 — 165 — Long-term debt (b) $ 2,674 $ — $ 2,548 $ — $ 3,065 $ — $ 2,850 $ — ______________________________________ (a) Short-term borrowings and money market cash equivalents are stated at cost, which approximates fair value. (b) Carrying value as of September 30, 2024 represents principal of $2.7 billion, net of unamortized debt discounts and issuance costs.

DEBT

DEBT	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
DEBT	DEBT Debt Redemptions In September 2024, we repaid the remaining indebtedness under the Term Loan Facility of $399 million. The early redemption resulted in a loss on extinguishment of debt of $4 million relating to the write-off of unamortized discount and issuance costs, which was recorded as a loss from financing activities on our Consolidated Statements of Operations for the three and nine months ended September 30, 2024. There were no prepayment costs in conjunction with the early redemption of the Term Loan Facility. Long-Term Debt The following is a summary of long-term debt: Maturity September 30, December 31, Title Type Interest Rate Date 2024 2023 (millions) 2029 Notes Senior Notes (a) 4.125% 2029 $ 1,100 $ 1,100 2031 Notes Senior Notes (a) 4.375% 2031 1,000 1,000 2032 Notes Senior Secured Notes (b) 4.300% 2032 600 600 Term Loan Facility Term Loan Facility Variable 2028 — 399 Long-term debt principal 2,700 3,099 Unamortized debt discount (1) (2) Unamortized debt issuance costs (25) (32) Long-term debt, net $ 2,674 $ 3,065 ______________________________ (a) Interest payable semi-annually in arrears each June 15 and December 15. (b) Interest payable semi-annually in arrears each April 15 and October 15. Short-Term Credit Arrangements and Borrowings The following table presents the availability under the Revolving Credit Facility: September 30, 2024 (millions) Total availability Revolving Credit Facility, expiring October 2027 $ 1,000 Amounts outstanding Revolving Credit Facility borrowings — Letters of credit 16 16 Net availability $ 984 Borrowings under the Revolving Credit Facility, if any, are used for general corporate purposes, acquisitions, and letter of credit issuances to support our operations and liquidity. Revolving Credit Facility related issuance and amendment costs, net of amortization, were $5 million and $6 million as of September 30, 2024 and December 31, 2023, respectively. These costs are included in other noncurrent assets in our Consolidated Statements of Financial Position and are being amortized over the remaining term of the Revolving Credit Facility.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES From time to time, we are subject to legal, administrative and environmental proceedings before various courts, arbitration panels and governmental agencies concerning claims arising in the ordinary course of business. These proceedings include certain contract disputes, additional environmental reviews and investigations, audits and pending judicial matters. We cannot predict the final disposition of such proceedings. We regularly review legal matters and record provisions for claims that we can estimate and are considered probable of loss. The amount or range of reasonably possible losses is not anticipated to, either individually or in the aggregate, materially adversely affect our business, financial condition and results of operations. Guarantees In certain limited circumstances, we enter into contractual guarantees. We may guarantee another entity's obligation in the event it fails to perform and may provide guarantees in certain indemnification agreements. We did not have any guarantees of other parties' obligations as of September 30, 2024. Surety Bonds In certain limited circumstances, we enter into contracts that require us to obtain external surety bonds to secure our payment and performance. We agree to indemnify the issuers of these surety bonds for amounts, if any, paid by them under these agreements. In the event that any surety bonds are called for non-performance, we would be obligated to reimburse the issuer of the surety bond. The maximum potential indemnification under our surety bond agreements as of September 30, 2024 is $29 million. Vector Line of Credit We are the lender under a revolving term credit facility to Vector, the borrower, in the amount of CAD $70 million. The credit facility was executed in response to the passage of Canadian regulations requiring oil and gas pipelines to demonstrate their financial ability to respond to a catastrophic event and exists for the sole purpose of satisfying these regulations. Vector may only draw upon the facility if the funds are required to respond to a catastrophic event. The maximum potential payout as of September 30, 2024 is USD $52 million. The funding of a loan under the terms of the revolving term credit facility is considered remote. Contingent Liability In order to comply with certain state environmental regulations, we have an obligation to restore pipeline right-of-way slope failures that may arise in the ordinary course of business in the Utica and Marcellus formations. We completed

SEGMENT AND RELATED INFORMATION

SEGMENT AND RELATED INFORMATION	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
SEGMENT AND RELATED INFORMATION	SEGMENT AND RELATED INFORMATION We set strategic goals, allocate resources, and evaluate performance based on the following structure: The Pipeline segment owns and operates interstate and intrastate natural gas pipelines, storage systems, and natural gas gathering lateral pipelines. The segment also has interests in equity method investees that own and operate interstate natural gas pipelines. The Pipeline segment is also engaged in the transportation and storage of natural gas for intermediate and end user customers. 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. 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 nine months ended September 30, 2024 and 2023. The following tables present financial data by business segment: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (millions) Operating Revenues Pipeline $ 112 $ 96 $ 328 $ 271 Gathering 136 138 404 407 Total $ 248 $ 234 $ 732 $ 678 Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (millions) Net Income Attributable to DT Midstream Pipeline $ 71 $ 64 $ 216 $ 185 Gathering 17 27 65 78 Total $ 88 $ 91 $ 281 $ 263

ACQUISITION

ACQUISITION	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
ACQUISITION	ACQUISITION Clean Fuels Gathering Asset Acquisition

SUBSEQUENT EVENT

SUBSEQUENT EVENT	9 Months Ended
	Sep. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENT	SUBSEQUENT EVENT Dividend Declaration On October 29, 2024, we announced that our Board of Directors declared a quarterly dividend of $0.735 per share of common stock. The dividend is payable to our stockholders of record as of December 16, 2024 and is expected to be paid on January 15, 2025.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income Attributable to DT Midstream	$ 88	$ 91	$ 281	$ 263

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The DT Midstream Consolidated Financial Statements and Notes to Consolidated Financial Statements are prepared under GAAP. These accounting principles require management to use estimates and assumptions that impact reported amounts of assets, liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities. Actual results may differ from our estimates. We believe the assumptions underlying these financial statements are reasonable. In our opinion, the accompanying unaudited Consolidated Financial Statements include all adjustments, consisting of normal recurring adjustments, necessary to present a fair statement of our financial position as of September 30, 2024, results of operations for the three and nine months ended September 30, 2024 and 2023, statement of changes in stockholders' equity for the three and nine months ended September 30, 2024 and 2023, and cash flows for the nine months ended September 30, 2024 and 2023. The balance sheet as of December 31, 2023 was derived from audited annual financial statements but does not include all disclosures required by GAAP. Financial results for this interim period are not necessarily indicative of results that may be expected for any other interim period or for the year ending December 31, 2024. The Consolidated Financial Statements should be read in conjunction with DT Midstream's Consolidated Financial Statements and Notes to Consolidated Financial Statements included in DT Midstream's 2023 Annual Report on Form 10-K.
Principles of Consolidation	Principles of Consolidation We consolidate all majority-owned subsidiaries and investments in entities in which we have a controlling influence. Non-controlled investments are accounted for using the equity method of accounting when we are able to significantly influence the operating policies of the investee. When we do not influence the operating policies of an investee, the equity investment is measured at fair value, if readily determinable, or if not readily determinable, at cost less impairment, if applicable. We eliminate all intercompany balances and transactions. We evaluate whether an entity is a VIE whenever reconsideration events occur. We consolidate VIEs for which we are the primary beneficiary. When assessing the determination of the primary beneficiary, we consider all relevant facts and circumstances, including: the power, through voting or similar rights, to direct the activities of the VIE that most significantly impact the VIE's economic performance and the obligation to absorb the expected losses and/or the right to receive the expected returns of the VIE. We perform ongoing reassessments of all VIEs to determine if the primary beneficiary status has changed.
Equity Method Investments	Equity Method Investments
Cash and Cash Equivalents	Cash and Cash Equivalents
Financing Receivables	Financing Receivables Financing receivables are primarily composed of trade accounts receivable and notes receivable, which are stated at net realizable value. We regularly monitor the credit quality of our financing receivables by reviewing counterparty credit quality indicators and monitoring for triggering events, such as a credit rating downgrade or bankruptcy. We have three internal grades of credit quality, with internal grade 1 as the lowest risk and internal grade 3 as the highest risk. The related credit quality indicators and risk ratings utilized to develop the internal grades have been updated through September 30, 2024. As of September 30, 2024, the Notes receivable — related party of $4 million, which originated prior to 2021, was classified as internal grade 1. There are no notes receivable on nonaccrual status and no past due financing receivables as of September 30, 2024.
Operation and Maintenance	Operation and Maintenance
Recently Issued Pronouncements	Recently Issued Pronouncements In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures . The amendments improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses and interim disclosure requirements. The amendments are effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. We continue to evaluate the impact of this standard's adoption on our Consolidated Financial Statements. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740) - Improvements to Income Tax Disclosures. The amendments improve transparency of income tax disclosure requirements, primarily through enhanced disclosures of rate reconciliation and income taxes paid. The amendments are effective for annual periods beginning after December 15, 2024. Early adoption is permitted. We continue to evaluate the impact of this standard's adoption on our Consolidated Financial Statements.

DESCRIPTION OF THE BUSINESS A_2

DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION (Tables)	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entities	The following table summarizes the major line items in the Consolidated Statements of Financial Position for consolidated VIEs as of September 30, 2024 and December 31, 2023. All assets and liabilities of a consolidated VIE are included in the table when it has been determined that a consolidated VIE has either (1) assets that can be used only to settle obligations of the VIE or (2) liabilities for which creditors do not have recourse to the general credit of the primary beneficiary. The assets and liabilities of consolidated VIEs that meet the definition of a business and whose assets can be used for purposes other than the settlement of the VIEs' obligations have been excluded from the table below. September 30, December 31, 2024 2023 (millions) ASSETS (a) Cash $ 10 $ 13 Accounts receivable 9 10 Other current assets 1 2 Intangible assets, net 472 483 Property, plant and equipment, net 388 391 Goodwill 25 25 $ 905 $ 924 LIABILITIES (a) Accounts payable and other current liabilities $ 3 $ 4 Other noncurrent liabilities 3 3 $ 6 $ 7 _____________________________________ (a) Amounts shown are 100% of the consolidated VIEs' assets and liabilities.
Schedule of Equity Method Investments	Equity method investees are described below: Investments As of % Owned As of September 30, December 31, September 30, December 31, Equity Method Investee 2024 2023 2024 2023 (millions) NEXUS $ 882 $ 900 50% 50% Vector 134 135 40% 40% Millennium 285 727 52.5% 52.5% Total investments in equity method investees $ 1,301 $ 1,762 The following table presents summarized financial information of our non-consolidated equity method investees. The amounts included below represent 100% of the results of continuing operations of such entities, including the portion owned by other parties. Summarized income statement data is as follows: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (millions) Operating revenues $ 201 $ 201 $ 613 $ 611 Operating expenses 95 94 283 282 Net Income $ 86 $ 91 $ 280 $ 292

GOODWILL (Tables)

GOODWILL (Tables)	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following is the summary of the carrying value of goodwill: September 30, December 31, 2024 2023 (millions) Pipeline $ 53 $ 53 Gathering 420 420 Total goodwill $ 473 $ 473

REVENUE (Tables)

REVENUE (Tables)	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following is a summary of revenues disaggregated by segment: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (millions) Pipeline (a) $ 112 $ 96 $ 328 $ 271 Gathering 136 138 404 407 Total operating revenues $ 248 $ 234 $ 732 $ 678 __________________________________ (a) Includes revenues outside the scope of ASC 606 primarily related to contracts accounted for as leases of $2 million for both the three months ended September 30, 2024 and 2023, and $6 million and $5 million for the nine months ended September 30, 2024 and 2023, respectively.
Summary of Contact Liability Activity	The following is a summary of contract liability activity: 2024 (millions) Balance as of January 1 $ 129 Increases due to cash received or receivable, excluding amounts recognized as revenue during the period 36 Revenue recognized that was included in the balance at the beginning of the period (19) Balance as of September 30 $ 146
Revenue Expected to be Recognized in Future Periods	The following table presents contract liability amounts as of September 30, 2024 that are expected to be recognized as revenue in future periods: (millions) Remainder of 2024 $ 4 2025 17 2026 17 2027 17 2028 15 2029 and thereafter 76 Total $ 146 The following table presents revenue amounts related to fixed consideration associated with unsatisfied performance obligations as of September 30, 2024 that are expected to be recognized as revenue in future periods: (millions) Remainder of 2024 $ 35 2025 150 2026 128 2027 97 2028 65 2029 and thereafter 229 Total $ 704

EARNINGS PER SHARE AND DIVIDE_2

EARNINGS PER SHARE AND DIVIDENDS (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Reconciliation of Basic and Diluted Earnings Per Share	The following is a reconciliation of basic and diluted earnings per share: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (millions, except per share amounts) Basic and Diluted Earnings per Common Share Net Income Attributable to DT Midstream $ 88 $ 91 $ 281 $ 263 Average number of common shares outstanding — basic 97.1 97.0 97.1 96.9 Incremental shares attributable to: Average dilutive restricted stock units and performance share awards 0.9 0.5 0.7 0.5 Average number of common shares outstanding — diluted 98.0 97.5 97.8 97.4 Basic Earnings per Common Share $ 0.91 $ 0.94 $ 2.90 $ 2.72 Diluted Earnings per Common Share $ 0.90 $ 0.94 $ 2.87 $ 2.70
Schedule of Cash Dividends Declared	We declared the following cash dividends: Dividends Declared Dividend Amount Dividend Payment Date (quarter ended) (per-share) (millions) 2023 March 31 $ 0.69 $ 67 April 2023 June 30 $ 0.69 $ 67 July 2023 September 30 $ 0.69 $ 67 October 2023 December 31 $ 0.69 $ 67 January 2024 2024 March 31 $ 0.735 $ 71 April 2024 June 30 $ 0.735 $ 71 July 2024 September 30 $ 0.735 $ 71 October 2024

FAIR VALUE (Tables)

FAIR VALUE (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Carrying Amount of Fair Value of Financial Instruments	The following table presents the carrying amount and fair value of financial instruments: September 30, 2024 December 31, 2023 Carrying Fair Value Carrying Fair Value Amount Level 1 Level 2 Level 3 Amount Level 1 Level 2 Level 3 (millions) Cash equivalents (a) $ 34 $ — $ 34 $ — $ 36 $ — $ 36 $ — Long-term notes receivable — related party 4 — — 4 4 — — 4 Short-term borrowings (a) — — — — 165 — 165 — Long-term debt (b) $ 2,674 $ — $ 2,548 $ — $ 3,065 $ — $ 2,850 $ — ______________________________________ (a) Short-term borrowings and money market cash equivalents are stated at cost, which approximates fair value. (b) Carrying value as of September 30, 2024 represents principal of $2.7 billion, net of unamortized debt discounts and issuance costs.

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt Outstanding	The following is a summary of long-term debt: Maturity September 30, December 31, Title Type Interest Rate Date 2024 2023 (millions) 2029 Notes Senior Notes (a) 4.125% 2029 $ 1,100 $ 1,100 2031 Notes Senior Notes (a) 4.375% 2031 1,000 1,000 2032 Notes Senior Secured Notes (b) 4.300% 2032 600 600 Term Loan Facility Term Loan Facility Variable 2028 — 399 Long-term debt principal 2,700 3,099 Unamortized debt discount (1) (2) Unamortized debt issuance costs (25) (32) Long-term debt, net $ 2,674 $ 3,065 ______________________________ (a) Interest payable semi-annually in arrears each June 15 and December 15. (b) Interest payable semi-annually in arrears each April 15 and October 15.
Schedule of Availability Under the Revolving Credit Facility	The following table presents the availability under the Revolving Credit Facility: September 30, 2024 (millions) Total availability Revolving Credit Facility, expiring October 2027 $ 1,000 Amounts outstanding Revolving Credit Facility borrowings — Letters of credit 16 16 Net availability $ 984

SEGMENT AND RELATED INFORMATI_2

SEGMENT AND RELATED INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Schedule of Financial Data by Business Segment	The following tables present financial data by business segment: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (millions) Operating Revenues Pipeline $ 112 $ 96 $ 328 $ 271 Gathering 136 138 404 407 Total $ 248 $ 234 $ 732 $ 678 Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (millions) Net Income Attributable to DT Midstream Pipeline $ 71 $ 64 $ 216 $ 185 Gathering 17 27 65 78 Total $ 88 $ 91 $ 281 $ 263

DESCRIPTION OF THE BUSINESS A_3

DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION - Narrative (Details) $ in Millions	1 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($)	May 31, 2023 USD ($)	Sep. 30, 2024 USD ($) segment	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Related Party Transaction [Line Items]
Number of segments | segment			2
Amount by which the carrying amounts of equity method investments exceeds share of underlying equity in the net assets	$ 340		$ 340		$ 352
Distributions from equity method investees			467	$ 405
Millennium
Related Party Transaction [Line Items]
Distributions from equity method investees	416
NEXUS
Related Party Transaction [Line Items]
Distributions from equity method investees		$ 371
Senior Notes | Millennium Senior Unsecured Notes | Millennium
Related Party Transaction [Line Items]
Amount of debt sold	$ 800		$ 800
Weighted-average coupon rate	5.88%		5.88%
Senior Notes | NEXUS Senior Unsecured Notes | NEXUS
Related Party Transaction [Line Items]
Amount of debt sold		$ 750
Weighted-average coupon rate		5.52%
Stonewall VIE
Related Party Transaction [Line Items]
VIE ownership percentage			85%
South Romeo VIE
Related Party Transaction [Line Items]
VIE ownership percentage			50%

DESCRIPTION OF THE BUSINESS A_4

DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION - Consolidated VIEs (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
ASSETS
Cash	$ 77	$ 56
Accounts receivable	137	154
Intangible assets, net	1,925	1,968
Property, plant and equipment, net	4,549	4,434
Goodwill	473	473
Total Assets	8,587	8,982
LIABILITIES
Other noncurrent liabilities	1,295	1,203
Total Liabilities	4,231	4,702
Variable interest entity, primary beneficiary
ASSETS
Cash	10	13
Accounts receivable	9	10
Other current assets	1	2
Intangible assets, net	472	483
Property, plant and equipment, net	388	391
Goodwill	25	25
Total Assets	905	924
LIABILITIES
Accounts payable and other current liabilities	3	4
Other noncurrent liabilities	3	3
Total Liabilities	$ 6	$ 7

DESCRIPTION OF THE BUSINESS A_5

DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION - Equity Method Investees (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Schedule of Equity Method Investments [Line Items]
Investments As of	$ 1,301	$ 1,762
NEXUS
Schedule of Equity Method Investments [Line Items]
Investments As of	$ 882	$ 900
% Owned As of	50%	50%
Vector
Schedule of Equity Method Investments [Line Items]
Investments As of	$ 134	$ 135
% Owned As of	40%	40%
Millennium
Schedule of Equity Method Investments [Line Items]
Investments As of	$ 285	$ 727
% Owned As of	52.50%	52.50%

DESCRIPTION OF THE BUSINESS A_6

DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION - Summarized Income Statement Data (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Schedule of Equity Method Investments [Line Items]
Operating revenues	$ 248			$ 234			$ 732	$ 678
Net Income	91	$ 100	$ 100	94	$ 94	$ 84	291	272
Equity method investment, non-consolidated investees
Schedule of Equity Method Investments [Line Items]
Operating revenues	201			201			613	611
Operating expenses	95			94			283	282
Net Income	$ 86			$ 91			$ 280	$ 292

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($) internal_grade	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) internal_grade	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Financing Receivable, Past Due [Line Items]
Number of internal grades of credit quality | internal_grade	3		3
Specific review of probable future collections based on receivable balances, threshold duration			30 days
Uncollectible expense (recovery)	$ 0	$ 0	$ 0	$ 0
Allowance for expected credit loss related to accounts receivable	0		0		$ 0
Past due
Financing Receivable, Past Due [Line Items]
Financing receivables	0		0
Notes receivable
Financing Receivable, Past Due [Line Items]
Notes receivables on nonaccrual status	0		0
Notes receivable | Internal grade 1 | Related Party
Financing Receivable, Past Due [Line Items]
Notes receivable, originated prior to 2021	$ 4,000,000		$ 4,000,000

GOODWILL (Details)

GOODWILL (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Goodwill [Line Items]
Goodwill	$ 473	$ 473
Pipeline
Goodwill [Line Items]
Goodwill	53	53
Gathering
Goodwill [Line Items]
Goodwill	$ 420	$ 420

REVENUE - Disaggregation of Rev

REVENUE - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Total operating revenues	$ 248	$ 234	$ 732	$ 678
Pipeline
Disaggregation of Revenue [Line Items]
Total operating revenues	112	96	328	271
Revenue outside scope of ASC 606	2	2	6	5
Gathering
Disaggregation of Revenue [Line Items]
Total operating revenues	$ 136	$ 138	$ 404	$ 407

REVENUE - Contract Liabilities

REVENUE - Contract Liabilities (Details) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)
Change In Contract With Customer, Liability [Roll Forward]
Beginning balance	$ 129
Increases due to cash received or receivable, excluding amounts recognized as revenue during the period	36
Revenue recognized that was included in the balance at the beginning of the period	(19)
Ending balance	$ 146

REVENUE - Expected Recognition

REVENUE - Expected Recognition of Contract Liabilities and Performance Obligations (Details) $ in Millions	Sep. 30, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 146
Fixed-price Contract
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	704
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 4
Remaining performance obligation, expected timing of satisfaction	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01 | Fixed-price Contract
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 35
Remaining performance obligation, expected timing of satisfaction	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 17
Remaining performance obligation, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | Fixed-price Contract
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 150
Remaining performance obligation, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 17
Remaining performance obligation, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | Fixed-price Contract
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 128
Remaining performance obligation, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 17
Remaining performance obligation, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 | Fixed-price Contract
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 97
Remaining performance obligation, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 15
Remaining performance obligation, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01 | Fixed-price Contract
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 65
Remaining performance obligation, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 76
Remaining performance obligation, expected timing of satisfaction
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01 | Fixed-price Contract
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 229
Remaining performance obligation, expected timing of satisfaction

REVENUE - Narrative (Details)

REVENUE - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Capitalized costs to obtain or fulfill contracts	$ 18		$ 18		$ 18
Amortization expense related to capitalized costs (less than)	$ 1	$ 1	$ 1	$ 1

EARNINGS PER SHARE AND DIVIDE_3

EARNINGS PER SHARE AND DIVIDENDS - Reconciliation of Basic and Diluted Earnings Per Share Calculation (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Basic and Diluted Earnings per Common Share
Net Income Attributable to DT Midstream	$ 88	$ 91	$ 281	$ 263
Average number of common shares outstanding — basic (in shares)	97.1	97	97.1	96.9
Incremental shares attributable to:
Average dilutive restricted stock units and performance share awards (in shares)	0.9	0.5	0.7	0.5
Average number of common shares outstanding — diluted (in shares)	98	97.5	97.8	97.4
Basic earnings per common share (in dollars per share)	$ 0.91	$ 0.94	$ 2.90	$ 2.72
Diluted earnings per common share (in dollars per share)	$ 0.90	$ 0.94	$ 2.87	$ 2.70

EARNINGS PER SHARE AND DIVIDE_4

EARNINGS PER SHARE AND DIVIDENDS - Dividends Declared (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023
Earnings Per Share [Abstract]
Quarterly Dividend (in dollars per share)	$ 0.735	$ 0.735	$ 0.735	$ 0.69	$ 0.69	$ 0.69	$ 0.69
Dividend Amount	$ 71	$ 71	$ 71	$ 67	$ 67	$ 67	$ 67

INCOME TAXES (Details)

INCOME TAXES (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate	24%	26%	24%	27%

FAIR VALUE (Details)

FAIR VALUE (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt principal	$ 2,700	$ 3,099
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	34	36
Short-term borrowings	0	165
Long-term debt	2,674	3,065
Carrying Amount | Related Party
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term notes receivable — related party	4	4
Fair Value | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	0	0
Short-term borrowings	0	0
Long-term debt	0	0
Fair Value | Level 1 | Related Party
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term notes receivable — related party	0	0
Fair Value | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	34	36
Short-term borrowings	0	165
Long-term debt	2,548	2,850
Fair Value | Level 2 | Related Party
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term notes receivable — related party	0	0
Fair Value | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	0	0
Short-term borrowings	0	0
Long-term debt	0	0
Fair Value | Level 3 | Related Party
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term notes receivable — related party	$ 4	$ 4

DEBT - Narrative (Details)

DEBT - Narrative (Details)	1 Months Ended	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Repayment of existing indebtedness				$ 399,000,000	$ 0
Gain (loss) on extinguishment of debt		$ (4,000,000)	$ 0	(4,000,000)	$ 0
Term Loan Facility
Debt Instrument [Line Items]
Repayment of existing indebtedness	$ 399,000,000
Gain (loss) on extinguishment of debt	(4,000,000)
Prepayment cost	0
Revolving Credit Facility, expiring October 2027 | Revolving Credit Facility borrowings
Debt Instrument [Line Items]
Debt related to issuance and amendment costs, net of amortization	$ 5,000,000	$ 5,000,000		$ 5,000,000		$ 6,000,000
Maximum consolidated net leverage ratio	5	5		5
Minimum interest coverage ratio				2.5
Consolidated net leverage ratio	1.9	1.9		1.9
Interest coverage ratio				8.4

DEBT - Long-term Debt Outstandi

DEBT - Long-term Debt Outstanding (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long-term debt principal	$ 2,700	$ 3,099
Unamortized debt discount	(1)	(2)
Unamortized debt issuance costs	(25)	(32)
Long-term debt, net	$ 2,674	3,065
2029 Notes | Senior Notes
Debt Instrument [Line Items]
Interest Rate	4.125%
Long-term debt principal	$ 1,100	1,100
2031 Notes | Senior Notes
Debt Instrument [Line Items]
Interest Rate	4.375%
Long-term debt principal	$ 1,000	1,000
2032 Notes | Senior Notes
Debt Instrument [Line Items]
Interest Rate	4.30%
Long-term debt principal	$ 600	600
Term Loan Facility
Debt Instrument [Line Items]
Long-term debt principal	$ 0	$ 399

DEBT - Availability Under the R

DEBT - Availability Under the Revolving Credit Facility (Details) - Revolving Credit Facility, expiring October 2027 $ in Millions	Sep. 30, 2024 USD ($)
Line of Credit Facility [Line Items]
Amounts outstanding	$ 16
Net availability	984
Revolving Credit Facility borrowings
Line of Credit Facility [Line Items]
Total availability	1,000
Amounts outstanding	0
Letters of credit
Line of Credit Facility [Line Items]
Amounts outstanding	$ 16

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions, $ in Millions	3 Months Ended
	Jun. 30, 2024 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2024 CAD ($)	Dec. 31, 2023 USD ($)
Loss Contingencies [Line Items]
Reduction to contingent liability accrual and decrease to operation and maintenance expense	$ 9
Accrued contingent liabilities		$ 4		$ 13
Revolving Term Credit Facility | Vector
Loss Contingencies [Line Items]
Financing receivables			$ 70
Maximum potential payout		52
Performance surety bonds
Loss Contingencies [Line Items]
Maximum potential indemnification		$ 29

SEGMENT AND RELATED INFORMATI_3

SEGMENT AND RELATED INFORMATION (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating revenues	$ 248	$ 234	$ 732	$ 678
Net Income Attributable to DT Midstream	88	91	281	263
Pipeline
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating revenues	112	96	328	271
Net Income Attributable to DT Midstream	71	64	216	185
Gathering
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating revenues	136	138	404	407
Net Income Attributable to DT Midstream	$ 17	$ 27	$ 65	$ 78

ACQUISITION (Details)

ACQUISITION (Details) - Clean Fuels Gathering Project Asset Acquisition $ in Millions	Jul. 01, 2024 USD ($)
Asset Acquisition [Line Items]
Purchase consideration of asset acquisition	$ 12
Contingent payment recorded as Accounts Payable	10
Maximum
Asset Acquisition [Line Items]
Contingent payments upon the completion of certain milestones	$ 34

SUBSEQUENT EVENT (Details)

SUBSEQUENT EVENT (Details) - $ / shares		3 Months Ended
	Oct. 29, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023
Subsequent Event [Line Items]
Dividends declared on common stock (in dollars per share)		$ 0.735	$ 0.735	$ 0.735	$ 0.69	$ 0.69	$ 0.69	$ 0.69
Subsequent Event
Subsequent Event [Line Items]
Dividends declared on common stock (in dollars per share)	$ 0.735