DT Midstream (DTM) 10-K 26 Feb 25 2024 FY Annual report Financial data

Cover

Cover - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2024	Feb. 14, 2025	Jun. 28, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 6.9
Entity Common Stock, Shares Outstanding		101,358,534
Documents Incorporated by Reference	Certain information in DT Midstream's definitive Proxy Statement for our 2025 Annual Meeting of Common Shareholders to be held May 6, 2025, which will be filed with the Securities and Exchange Commission pursuant to Regulation 14A, not later than 120 days after the end of the registrant’s fiscal year covered by this report on Form 10-K, is incorporated herein by reference to Part III (Items 10, 11, 12, 13, and 14) of this Form 10-K.
Entity Central Index Key	0001842022
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2024
Audit Information [Abstract]
Auditor Firm ID	238
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Detroit, Michigan

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenues
Operating revenues	$ 981	$ 922	$ 920
Operating Expenses
Operation and maintenance	244	245	267
Depreciation and amortization	209	182	170
Taxes other than income	39	28	28
Asset (gains) losses and impairments, net	0	(4)	(23)
Operating Income	489	471	478
Other (Income) and Deductions
Interest expense	153	150	137
Interest income	(7)	(1)	(3)
Earnings from equity method investees	(162)	(177)	(150)
Loss from financing activities	5	0	13
Other income	(4)	(1)	(1)
Income Before Income Taxes	504	500	482
Income Tax Expense	137	104	100
Net Income	367	396	382
Less: Net Income Attributable to Noncontrolling Interests	13	12	12
Net Income Attributable to DT Midstream	$ 354	$ 384	$ 370
Basic Earnings per Common Share
Net Income Attributable to DT Midstream (in dollars per share)	$ 3.63	$ 3.97	$ 3.83
Diluted Earnings per Common Share
Net Income Attributable to DT Midstream (in dollars per share)	$ 3.60	$ 3.94	$ 3.81
Weighted Average Common Shares Outstanding
Basic (in shares)	97.6	96.9	96.7
Diluted (in shares)	98.4	97.5	97.2

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net Income	$ 367	$ 396	$ 382
Foreign currency translation and unrealized gain on derivatives, net of tax	0	2	0
Other comprehensive income	0	2	0
Comprehensive income	367	398	382
Less: Comprehensive income attributable to noncontrolling interests	13	12	12
Comprehensive Income Attributable to DT Midstream	$ 354	$ 386	$ 370

Consolidated Statements of Fina

Consolidated Statements of Financial Position - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Current Assets
Cash and cash equivalents	$ 68	$ 56
Accounts receivable (net of $— allowance for expected credit loss for each period end)	172	154
Deferred property taxes	33	31
Taxes receivable	8	15
Prepaid expenses and other	29	16
Total Current Assets	310	272
Investments
Investments in equity method investees	1,297	1,762
Property
Property, plant, and equipment	6,525	5,282
Accumulated depreciation	(998)	(848)
Net Property, plant, and equipment	5,527	4,434
Other Assets
Goodwill	776	473
Long-term notes receivable — related party	4	4
Operating lease right-of-use assets	49	38
Intangible assets, net	1,921	1,968
Other	51	31
Total Other Assets	2,801	2,514
Total Assets	9,935	8,982
Current Liabilities
Accounts payable	77	94
Short-term borrowings	150	165
Operating lease liabilities	16	13
Dividends payable	75	67
Interest payable	12	10
Property taxes payable	42	34
Accrued compensation	19	18
Contract liabilities	18	18
Other	17	15
Total Current Liabilities	426	434
Long-Term Debt, net	3,319	3,065
Other Liabilities
Deferred income taxes	1,129	1,031
Operating lease liabilities	36	27
Contract liabilities	135	111
Regulatory liabilities	90	0
Other	34	34
Total Other Liabilities	1,424	1,203
Total Liabilities	5,169	4,702
Commitments and Contingencies (Note 12)
Stockholders' Equity
Preferred stock ($0.01 par value, 50,000,000 shares authorized, and no shares issued or outstanding as of December 31, 2024 and 2023)	0	0
Common stock ($0.01 par value, 550,000,000 shares authorized, and 101,324,894 and 96,971,021 shares issued and outstanding as of December 31, 2024 and 2023, respectively)	1	1
Additional paid-in capital	3,911	3,485
Retained earnings	723	661
Accumulated other comprehensive income (loss)	(8)	(8)
Total DT Midstream Equity	4,627	4,139
Noncontrolling interests	139	141
Total Equity	4,766	4,280
Total Liabilities and Equity	$ 9,935	$ 8,982

Consolidated Statements of Fi_2

Consolidated Statements of Financial Position (Parenthetical) - USD ($) $ in Millions	Dec. 31, 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)	101,324,894	96,971,021
Common stock, shares outstanding (in shares)	101,324,894	96,971,021

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Operating Activities
Net Income	$ 367	$ 396	$ 382
Adjustments to reconcile Net Income to Net cash and cash equivalents from operating activities:
Depreciation and amortization	209	182	170
Stock-based compensation	23	20	17
Amortization of operating lease right-of-use assets	18	18	19
Deferred income taxes	120	110	70
Earnings from equity method investees	(162)	(177)	(150)
Dividends from equity method investees	161	196	181
Asset (gains) losses and impairments, net	0	0	(17)
Loss from financing activities	5	0	13
Changes in assets and liabilities:
Accounts receivable, net	11	7	8
Accounts payable	11	(5)	7
Contract liabilities	23	97	3
Other current and noncurrent assets and liabilities	(23)	(46)	22
Net cash and cash equivalents from operating activities	763	798	725
Investing Activities
Plant and equipment expenditures	(350)	(772)	(338)
Acquisition accounted for as a business combination	(1,198)	0	0
Proceeds from sale of notes receivable	0	0	22
Distributions from equity method investees	472	427	17
Contributions to equity method investees	(5)	(7)	(5)
Acquisition of additional interest in equity method investee	0	0	(552)
Other investing activities	0	1	2
Net cash and cash equivalents used for investing activities	(1,081)	(351)	(854)
Financing Activities
Issuance of long-term debt, net of discount and issuance costs	644	0	591
Repayment of long-term debt	(399)	0	(596)
Borrowings under the Revolving Credit Facility	385	540	370
Repayment of borrowings under the Revolving Credit Facility	(400)	(705)	(40)
Payment of Revolving Credit Facility issuance costs	(3)	0	(3)
Issuance of common stock, net of issuance costs	406	0	0
Distributions to noncontrolling interests	(17)	(18)	(14)
Dividends paid on common stock	(280)	(263)	(244)
Other financing activities	(6)	(6)	(6)
Net cash and cash equivalents from (used for) financing activities	330	(452)	58
Net Increase (Decrease) in Cash and Cash Equivalents	12	(5)	(71)
Cash and Cash Equivalents at Beginning of Period	56	61	132
Cash and Cash Equivalents at End of Period	68	56	61
Cash paid for:
Interest, net of interest capitalized	140	140	125
Income taxes	12	22	24
Supplemental disclosure of non-cash investing and financing activities
Plant and equipment expenditures in accounts payable and other accrued liabilities	$ 44	$ 80	$ 99

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, 2021			96,734,000
Beginning balance at Dec. 31, 2021		$ 4,021	$ 1	$ 3,450	$ 431	$ (10)	$ 149
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income		382			370		12
Dividends declared on common stock		(248)			(248)
Distributions to noncontrolling interests		(14)					(14)
Stock-based compensation and other (in shares)			78,000
Stock-based compensation and other		15		17	(2)
Repurchase of common stock (in shares)			(57,000)
Repurchase of common stock		(3)			(3)
Taxes and other adjustments		1		2	(1)
Other comprehensive income, net of tax		0
Ending balance (in shares) at Dec. 31, 2022			96,755,000
Ending balance at Dec. 31, 2022		4,154	$ 1	3,469	547	(10)	147
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income		396			384		12
Dividends declared on common stock		(268)			(268)
Distributions to noncontrolling interests		(18)					(18)
Stock-based compensation and other (in shares)			216,000
Stock-based compensation and other		14		16	(2)
Other comprehensive income, net of tax		$ 2				2
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		367			354		13
Issuance of common shares (in shares)	[1]		4,169,000
Issuance of common shares	[1]	406		406
Dividends declared on common stock		(288)			(288)
Contributions from noncontrolling interests		2					2
Distributions to noncontrolling interests		(17)					(17)
Stock-based compensation and other (in shares)			185,000
Stock-based compensation and other		16		20	(4)
Other comprehensive income, net of tax		$ 0
Ending balance (in shares) at Dec. 31, 2024		101,324,894	101,325,000
Ending balance at Dec. 31, 2024		$ 4,766	$ 1	$ 3,911	$ 723	$ (8)	$ 139
[1] Issuance of common shares at $0.01 par value. See Note 8, "Earnings Per Share and Dividends," to the Consolidated Financial Statements.

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended												12 Months Ended
	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]
Dividends declared on common stock (in dollars per share)	$ 0.735	$ 0.735	$ 0.735	$ 0.735	$ 0.69	$ 0.69	$ 0.69	$ 0.69	$ 0.64	$ 0.64	$ 0.64	$ 0.64	$ 2.94	$ 2.76	$ 2.56
Common stock, par value (in dollars per share)	$ 0.01				$ 0.01								$ 0.01	$ 0.01

DESCRIPTION OF THE BUSINESS AND

DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION	12 Months Ended
	Dec. 31, 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. On December 31, 2024, we closed on the Midwest Pipeline Acquisition of three FERC-regulated natural gas transmission pipelines. See Note 16, "Acquisitions" to the Consolidated Financial Statements. 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 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 Consolidated Financial Statements include all adjustments, consisting of normal recurring adjustments, necessary to present a fair statement of our financial position as of December 31, 2024, results of operations for the years ended December 31, 2024, 2023 and 2022, statement of changes in stockholders' equity for the years ended December 31, 2024, 2023 and 2022, and cash flows for the years ended December 31, 2024, 2023 and 2022. Cash Management Our sources of liquidity include cash generated from operations and available borrowings under our Revolving Credit Facility. 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 December 31, 2024 and 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. December 31, 2024 2023 (millions) ASSETS (a) Cash $ 17 $ 13 Accounts receivable 11 10 Other current assets 2 2 Intangible assets, net 468 483 Property, plant and equipment, net 391 391 Goodwill 25 25 $ 914 $ 924 LIABILITIES (a) Accounts payable and other current liabilities $ 5 $ 4 Other noncurrent liabilities 3 3 $ 8 $ 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. See Note 15, "Related Party Transactions" to the 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 December 31, 2024 and 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 $336 million and $352 million, respectively. The difference will be amortized over the life of the underlying assets. As of both December 31, 2024 and 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. Earnings from equity method investees include: Year Ended December 31, 2024 2023 2022 (millions) NEXUS $ 62 $ 68 $ 61 Vector 41 38 36 Millennium 59 71 53 Total earnings from equity method investees $ 162 $ 177 $ 150 Equity method investees are described below: Investments As of % Owned As of December 31, December 31, Equity Method Investee 2024 2023 2024 2023 (millions) NEXUS $ 880 $ 900 50% 50% Vector 134 135 40% 40% Millennium 283 727 52.5% 52.5% Total investments in equity method investees $ 1,297 $ 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. In October 2022, DT Midstream closed on the $552 million purchase of an additional 26.25% ownership interest in Millennium from National Grid. The transaction was financed with cash on hand and available capacity under the Company's Revolving Credit Facility. The purchase constituted National Grid's full ownership interest in Millennium and brought our total ownership interest in Millennium to 52.5%. We account for our ownership interest in Millennium under the equity method of accounting. Millennium is not a VIE and we do not have a controlling interest due to shared control with our partner over all of Millennium's significant business activities. Our carrying amount of our Millennium investment exceeded our share of the underlying equity in the net assets of Millennium by $343 million on the acquisition date. The following tables present 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 balance sheet data is as follows: December 31, 2024 2023 (millions) Current assets $ 170 $ 159 Noncurrent assets 3,939 4,057 Current liabilities 209 208 Noncurrent liabilities $ 1,930 $ 1,177 Summarized income statement data is as follows: Year Ended December 31, 2024 2023 2022 (millions) Operating revenues $ 818 $ 823 $ 800 Operating expenses 376 377 396 Net Income $ 364 $ 392 $ 372

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 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 December 31, 2024. As of December 31, 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 December 31, 2024. Notes receivable are typically considered delinquent (past due) when payment is not received for periods ranging from 60 to 120 days. We cease accruing interest income (nonaccrual status) and may either write off or establish an allowance for expected credit loss for the note receivable when it is expected that all contractual principal or interest amounts due will not be collected. In determining an allowance for expected credit losses for or the write off of notes receivable, we consider the historical payment experience and other factors that are expected to have a specific impact on collection, including existing and future economic conditions. Cash receipts for notes receivable on nonaccrual status that do not bring the account contractually current are first applied to contractually owed past due interest, with any remainder applied to principal. Recognition of interest income is generally resumed when the note receivable becomes contractually current. We had an investment in certain assets in the Utica Shale region which was accounted for as a note receivable — third party. A third party purchased our investment in certain assets in the Utica Shale region based on significantly improved commodity pricing during the second quarter 2022 for proceeds of $22 million. This resulted in a gain of $17 million recorded in Asset (gains) losses and impairments, net on the Consolidated Statement of Operations. We maintain no continuing involvement with the note receivable. 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 years ended December 31, 2024, 2023 and 2022. 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 December 31, 2024 or 2023. Any balance would be shown as a deduction from the respective financing receivable's balance in the Consolidated Statements of Financial Position. Property, Plant, and Equipment Property is stated at cost and includes construction-related labor, materials, overhead and capitalized interest. Property for FERC-Regulated entities includes equity AFUDC. Equity AFUDC represents the capitalization of the estimated average cost of equity during construction projects and is recorded as a credit to allowance for funds used during construction in our Consolidated Statements of Operations. Expenditures for maintenance and repairs are charged to expense when incurred. Property, plant and equipment is depreciated over its estimated useful life using the straight-line method. See Note 6, "Property, Plant, and Equipment and Intangible Assets" to the Consolidated Financial Statements. On December 31, 2024, DT Midstream closed on the Midwest Pipeline Acquisition of three FERC-regulated natural gas transmission pipelines. These assets are accounted for under ASC 980, which in some cases requires that the cost of regulated property retired or sold, plus removal costs, less salvage, be charged to accumulated depreciation. For regulated assets, depreciation studies to assess the estimated useful lives of the asset are typically conducted as part of rate proceedings or tariff filings. Changes in economic lives, if applicable, are implemented prospectively as of the approved effective date. See Note 16, "Acquisitions" and Note 17, "Regulatory Matters" to the Consolidated Financial Statements. Intangible Assets Intangible assets with finite useful lives are amortized on a straight-line basis over the periods benefited. See Note 6, "Property, Plant, and Equipment and Intangible Assets" to the Consolidated Financial Statements. Long-Lived Assets Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. If the carrying amount of the asset exceeds the expected undiscounted future cash flows generated by the asset, an impairment loss is recognized resulting in the asset being written down to its estimated fair value. Assets to be disposed of are reported at the lower of the carrying amount or fair value, less costs to sell. Purchase Accounting In accordance with the business combination acquisition method of accounting, the assets acquired and liabilities assumed in an acquired business are measured at their estimated fair values at the acquisition date. Goodwill DT Midstream has goodwill resulting from business combinations. For each reporting unit with goodwill, we perform an impairment test annually or whenever events or circumstances indicate that the value of goodwill may be impaired. Operation and Maintenance Operation and maintenance is primarily comprised of costs for labor and employee benefits, outside services, materials, compression, purchased natural gas, operating lease costs, office costs, and other operating and maintenance costs. Depreciation and Amortization Depreciation and amortization is related to Property, plant and equipment and Customer relationships and other intangible assets, net, used in our transportation, storage and gathering businesses. Other Significant Accounting Policies Footnote Title Note 1 Equity Method Investments Note 4 Revenue Note 7 Income Taxes Note 9 Fair Value Note 11 Leases Note 14 Reportable Segments Note 16 Acquisitions Note 17 Regulation

NEW ACCOUNTING PRONOUNCEMENTS

NEW ACCOUNTING PRONOUNCEMENTS	12 Months Ended
	Dec. 31, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]
NEW ACCOUNTING PRONOUNCEMENTS	NEW ACCOUNTING PRONOUNCEMENTS Recently Adopted 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 adopted this ASU on December 31, 2024, and applied the amendments retrospectively to all prior periods presented in our Consolidated Financial Statements. See Note 14, "Segment and Related Information," to the Consolidated Financial Statements. Recently Issued Pronouncements 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. In November 2024, the FASB issued ASU No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40) - Disaggregation of Income Statement Expenses. The amendments require enhanced disclosures of specified costs and expenses included in significant expense captions in the income statement, including purchases of inventory, employee compensation, depreciation, amortization, and other key amounts. The FASB subsequently issued ASU No. 2025-01 in January 2025 to clarify the effective date of ASU No. 2024-03. The amendments are effective for fiscal years beginning after December 15, 2026 and interim reporting periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. We are currently evaluating the impact of this standard's adoption on our Consolidated Financial Statements.

REVENUE

REVENUE	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE Significant Accounting Policy – Revenue Pipeline revenues consist of services related to the gathering, transportation and/or storage of natural gas. Gathering revenues consist of services related to the gathering, processing, and/or treating of natural gas. Revenue is measured based upon the pricing or consideration for such services specified in the contract with a customer. Consideration may consist of both fixed components including fixed demand charges and fixed deficiency fee rates for MVCs, and variable components including fixed rates for the actual volumes flowed under interruptible services and other associated fees. Our contracts with customers generally contain a single performance obligation, which is a promise to deliver either a distinct service or a series of distinct services to the customer. When multiple performance obligations exist, the contract consideration is allocated between the performance obligations based on the relative standalone selling price, which is determined by prices charged to customers or the adjusted market assessment approach. The adjusted market assessment approach involves evaluating the market in which we sell services and estimating the price that a customer in that market would be willing to pay. Revenue is recognized when performance obligations are satisfied by delivering a service to a customer, which occurs when the service is provided to the customer. When a customer simultaneously receives and consumes the service provided, revenue is recognized over time. Alternatively, if it is determined that the criteria for recognition of revenue over time is not met, the revenue is considered to be recognized at a point in time. Our revenues, including estimated unbilled amounts, are generally recognized over time as actual services are provided, or ratably over time when providing a stand-ready service. Unbilled amounts are generally determined using preliminary meter data volumes and contracted pricing, and typically result in minor adjustments. Generally, uncertainties in the variable consideration components are resolved and revenue amounts are known at the time of recognition. We have determined that the above methods represent a faithful depiction of delivering a service to the customer. Revenues are typically billed and consideration received monthly, however, certain deficiency fees related to MVCs are billed quarterly or annually. Disaggregation of Revenue The following is a summary of revenues disaggregated by segment: Year Ended December 31, 2024 2023 2022 (millions) Pipeline (a) $ 443 $ 377 $ 339 Gathering 538 545 581 Total operating revenues $ 981 $ 922 $ 920 __________________________________ (a) Includes revenues outside the scope of ASC 606 primarily related to contracts accounted for as leases of $9 million, $7 million and $10 million for the years ended December 31, 2024, 2023 and 2022, 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. Recovery of production-related operating expenses were $51 million, $53 million and $65 million for the years ended December 31, 2024, 2023 and 2022, respectively . Contract Liabilities The following is a summary of contract liability activity: 2024 2023 (millions) Balance as of January 1 $ 129 $ 32 Increases due to cash received or receivable, excluding amounts recognized as revenue during the period (a) 47 101 Revenue recognized that was included in the balance at the beginning of the period (23) (4) Balance as of December 31 $ 153 $ 129 __________________________________ (a) During the year ended December 31, 2024 and 2023, we collected prepayment amounts from customers under various long-term revenue contracts on Ohio Utica Gathering, Appalachia Gathering, Blue Union Gathering and LEAP. 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 December 31, 2024 that are expected to be recognized as revenue in future periods: (millions) 2025 $ 18 2026 18 2027 18 2028 16 2029 16 2030 and thereafter 67 Total $ 153 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 December 31, 2024 that are expected to be recognized as revenue in future periods: (millions) 2025 $ 265 2026 223 2027 226 2028 181 2029 149 2030 and thereafter 268 Total $ 1,312 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. As of December 31, 2024 and 2023, we had capitalized costs to obtain or fulfill a contract of $18 million, which are included in other current assets and other noncurrent assets in the accompanying Consolidated Statements of Financial Position. During the years ended December 31, 2024, 2023 and 2022 we recognized $1 million of amortization expense related to such capitalized costs. Major Customers The following table summarizes the customer which represents 10% or more of our total revenue for the years ended December 31, 2024, 2023 and 2022. Both Pipeline and Gathering segments provided services to this customer. 2024 2023 2022 Customer Percentage Customer Percentage Customer Percentage Revenue of Total Revenue of Total Revenue of Total Customer: (millions, except percentages) Expand Energy $ 555 56 % $ 560 60 % $ 596 65 %

GOODWILL

GOODWILL	12 Months Ended
	Dec. 31, 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 annual impairment test as of October 1, 2024 and determined that the estimated fair value of each reporting unit exceeded its carrying value, and no impairment existed. We recognized goodwill as of December 31, 2024 as part of the Midwest Pipeline Acquisition in the Pipeline reporting unit. See Note 16, "Acquisitions" to the Consolidated Financial Statements. The following is the summary of the change in the carrying amount of goodwill: 2024 2023 (millions) Balance at January 1 $ 473 $ 473 Goodwill attributable to the Midwest Pipeline Acquisition 303 — Balance at December 31 $ 776 $ 473 The following is a summary of the carrying value of goodwill by reporting unit: December 31, 2024 2023 (millions) Pipeline $ 356 $ 53 Gathering 420 420 Total goodwill $ 776 $ 473

PROPERTY, PLANT, AND EQUIPMENT

PROPERTY, PLANT, AND EQUIPMENT AND INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT, AND EQUIPMENT AND INTANGIBLE ASSETS	PROPERTY, PLANT, AND EQUIPMENT AND INTANGIBLE ASSETS Property, Plant, and Equipment The following is a summary of Property, plant, and equipment by classification: Average Estimated Useful Life December 31, 2024 2023 (years) (millions) Property, plant, and equipment Land and other non-depreciable assets N/A $ 105 $ 96 Rights of way and easements 25 to 53 168 103 Pipelines and interconnects 10 to 95 4,437 3,460 Facilities and processing plants 7 to 50 1,364 1,234 Wells and well equipment 40 to 70 70 70 General plant 3 to 40 60 40 Construction in progress N/A 321 279 Total Property, plant, and equipment $ 6,525 $ 5,282 Less accumulated depreciation (998) (848) Net Property, plant, and equipment $ 5,527 $ 4,434 Intangible Assets The following is a summary of Intangible Assets by classification: December 31, 2024 December 31, 2023 Useful Lives Gross Carrying Value Accumulated Amortization Net Carrying Value Gross Carrying Value Accumulated Amortization Net Carrying Value (millions) Intangible assets subject to amortization Customer relationships 3 - 40 years (a) $ 2,262 $ (345) $ 1,917 $ 2,252 $ (289) $ 1,963 Contract intangibles 14 - 26 years 18 (14) 4 18 (13) 5 Total $ 2,280 $ (359) $ 1,921 $ 2,270 $ (302) $ 1,968 _____________________________________ (a) The useful lives of the customer relationship intangible assets are based on the number of years in which the assets are expected to economically contribute to the business. The expected economic benefit incorporates existing customer contracts and expected renewal rates based on the estimated volume and production lives of natural gas resources in each region. The following table summarizes estimated customer relationships and contract intangibles amortization expense to be recognized during each year through 2029: 2025 2026 2027 2028 2029 (millions) Estimated amortization expense $ 60 $ 60 $ 60 $ 59 $ 59 Depreciation and Amortization The following is a summary of depreciation and amortization expense by asset type: Year Ended December 31, 2024 2023 2022 (millions) Property, plant, and equipment $ 152 $ 125 $ 113 Customer relationships and other intangible assets, net 57 57 57 Total Depreciation and amortization $ 209 $ 182 $ 170

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Significant Accounting Policy – Accounting for Income Taxes We record the effect of income taxes in accordance with GAAP, which provides for the use of an asset and liability approach. Deferred income tax assets and liabilities are recognized for temporary differences between the basis of assets and liabilities for financial reporting and tax purposes and measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities as a result of changes in the enacted tax rates is recognized in earnings in the period of enactment. Our recognition of deferred tax assets is based upon a more-likely-than-not criterion. We routinely assess realizability based on objectively-weighted, available positive and negative evidence. We account for uncertainties in income taxes using a benefit recognition model with a two-step approach: a more-likely-than-not recognition criterion, and a measurement attribute that measures the position as the largest amount of tax benefit that is greater than a 50% likelihood of being realized upon ultimate settlement. If the benefit does not meet the more likely than not criteria for being sustained on its technical merits, no benefit will be recorded. Uncertain tax positions that relate only to timing of when an item is included on a tax return are considered to have met the recognition threshold. Midwest Pipeline Acquisition The Midwest Pipeline Acquisition was treated as a deemed asset acquisition which was taxable for federal and state income tax purposes as a result of 1) making tax elections promulgated under Internal Revenue Code §338(h)(10) for the acquired entities which were treated as corporations under Subchapter C of the Internal Revenue Code, and 2) all single member Limited Liability Companies ("LLC") being treated as disregarded entities for income tax purposes. Accordingly, the majority of deferred income tax assets and liabilities of the acquired entities are eliminated as the tax bases were increased to fair market value which equals net book value. The election resulted in tax-deductible goodwill which is subject to revision during the one-year period as additional information is obtained about facts and circumstances that existed at closing and purchase price allocations are completed/reported on income tax returns. As a result of changes to the expected state apportionment factors and rates due to the Midwest Pipeline Acquisition, the Company recorded a remeasurement to increase the existing deferred income tax liabilities of DT Midstream (acquiring entity) by $22 million which was charged to income tax expense. See Note 16, "Acquisitions" to the Consolidated Financial Statements. Tax Legislation On December 4, 2024, the State of Louisiana enacted a series of tax bills aimed at overall tax reform across multiple state tax regimes including income, franchise, and sales and use. House Bill 2 imposes a flat 5.5% (previously tiered from 3.5% to 7.5%) corporate income tax rate beginning January 1, 2025. In accordance with tax accounting guidance, DT Midstream recorded the remeasurement as a deferred income tax benefit of $4 million. Other enacted law changes include the repeal of the Louisiana franchise tax and increased state sales and use tax rates, which will take effect in future years and are not expected to have a material impact on the financial statements. On July 8, 2022, the Commonwealth of Pennsylvania enacted House Bill 1342 which includes a corporate income tax rate reduction from 9.99% to 4.99% that will phase-in over a nine-year period. Our total Income Tax Expense varied from the statutory federal income tax rate for the following reasons: Year Ended December 31, 2024 2023 2022 (millions) Income Before Income Taxes $ 504 $ 500 $ 482 Income tax expense at statutory rate 106 105 101 State and local income taxes, net of federal benefit 18 18 24 State tax rate changes 15 (18) (25) Other, net (2) (1) — Income Tax Expense $ 137 $ 104 $ 100 Effective income tax rate 27.3 % 20.9 % 20.7 % The State tax rate changes line in the table above includes state deferred remeasurements recorded in each of the respective years discussed below. Our 2024 effective tax rate includes a $15 million expense driven by updates to state rates and apportionment factors, primarily related to the Midwest Pipeline Acquisition and tax legislation, as discussed above. Our 2023 effective tax rate includes the impact of state tax rate changes of an $18 million benefit driven by changes in tax status and updates to state apportionment which were completed in 2023 as a part of ongoing corporate tax structuring, simplification initiatives, and initial post-separation full-year tax return filings. Our 2022 effective tax rate includes the impact of state tax rate changes of a $25 million benefit driven by the Pennsylvania legislative changes. Components of Income tax expense were as follows: Year Ended December 31, 2024 2023 2022 (millions) Current income tax expense Federal $ 13 $ (4) $ 16 State and other income tax 4 (2) 14 Total current income tax expense 17 (6) 30 Deferred income tax expense Federal 84 109 86 State and other income tax 36 1 (16) Total deferred income tax expense 120 110 70 Total Income Tax Expense $ 137 $ 104 $ 100 Deferred tax assets and liabilities are recognized for the estimated future tax effect of temporary differences between the tax basis of assets or liabilities and the reported amounts in our Consolidated Financial Statements. We believe it is more likely than not that we will generate sufficient taxable income in future periods to realize our deferred tax assets. Deferred tax assets (liabilities) were comprised of the following: December 31, 2024 2023 (millions) Deferred income tax balance components Property, plant, and equipment $ (369) $ (369) Federal net operating loss carry-forward 117 184 State and local net operating loss carry-forward, net of federal 75 102 Investment in equity method investees and partnerships (970) (979) Other 18 31 Net deferred income tax asset / (liability) $ (1,129) $ (1,031) Total deferred income tax assets and liabilities Deferred income tax assets $ 266 $ 319 Deferred income tax liabilities (1,395) (1,350) Net deferred income tax asset / (liability) $ (1,129) $ (1,031) We have recorded a deferred tax asset related to a federal net operating loss carry-forward of $117 million as of December 31, 2024. U.S. federal net operating losses will be available to be carried forward indefinitely and available to offset 80% of taxable income in future years. We have recorded state and local deferred tax assets related to net operating loss carry-forwards of $75 million as of December 31, 2024. Of the state and local net operating loss carry-forwards, $70 million can be carried indefinitely and $5 million will expire from 2033 through 2042 and are available to offset varying amounts of taxable income in future years. Uncertain Tax Positions

EARNINGS PER SHARE AND DIVIDEND

EARNINGS PER SHARE AND DIVIDENDS	12 Months Ended
	Dec. 31, 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. In November 2024, we issued 4,168,750 common shares at a price to the public of $101.00 per share and received net proceeds of approximately $406 million in anticipation of the Midwest Pipeline Acquisition. See Note 16, "Acquisitions" to the Consolidated Financial Statements. The following is a reconciliation of basic and diluted earnings per share: Year Ended December 31, 2024 2023 2022 (millions, except per share amounts) Basic and Diluted Earnings per Common Share Net Income Attributable to DT Midstream $ 354 $ 384 $ 370 Average number of common shares outstanding — basic 97.6 96.9 96.7 Incremental shares attributable to: Average dilutive restricted stock units and performance share awards 0.8 0.6 0.5 Average number of common shares outstanding — diluted 98.4 97.5 97.2 Basic Earnings per Common Share $ 3.63 $ 3.97 $ 3.83 Diluted Earnings per Common Share $ 3.60 $ 3.94 $ 3.81 We declared the following cash dividends: Dividends Declared Dividend Amount Dividend Payment Date (quarter ended) (per-share) (millions) 2022 March 31 $ 0.64 $ 62 April 2022 June 30 $ 0.64 $ 62 July 2022 September 30 $ 0.64 $ 62 October 2022 December 31 $ 0.64 $ 62 January 2023 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 December 31 $ 0.735 $ 75 January 2025

FAIR VALUE

FAIR VALUE	12 Months Ended
	Dec. 31, 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. Significant Accounting Policy – Fair Value 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: December 31, 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) $ — $ — $ — $ — $ 36 $ — $ 36 $ — Long-term notes receivable — related party 4 — — 4 4 — — 4 Short-term borrowings (a) 150 — 150 — 165 — 165 — Long-term debt (b) $ 3,319 $ — $ 3,136 $ — $ 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 December 31, 2024 and 2023 represents principal of $3.4 billion and $3.1 billion, respectively, net of unamortized debt discounts and issuance costs.

DEBT

DEBT	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
DEBT	DEBT Amendments to Credit Agreement In December 2024, we amended our Credit Agreement to, among other things, extend the Revolving Credit Facility maturity date to December 2029 and implement customary "limited condition transaction provisions", enabling us to enter into future acquisitions and other transactions with the conditionality to the consummation thereof subject only to customary "SunGard" conditions, which provide additional financing certainty and reduce the number of conditions required. In November 2024, we amended our Credit Agreement to permit the Company to incur certain customary bridge loans, including the Bridge Facility, a $700 million 364-day bridge loan facility committed by Barclays Bank PLC, which provided certain backstop funding for our Midwest Pipeline Acquisition. Bridge Facility issuance fees of $4 million were incurred during the year ended December 31, 2024 and recorded as interest expense on our Consolidated Statements of Operations. In June 2023, we amended our Credit Agreement which modified certain of the terms, including, among other things, the replacement of the interest rate provisions related to the Term Loan Facility from Eurodollar Rate to Term SOFR (as defined in the Credit Agreement). In October 2022, we amended the Credit Agreement to increase the Revolving Credit Facility commitments by $250 million to aggregate commitments of $1.0 billion. The amendment also extended the Revolving Credit Facility maturity date to October 2027, replaced the Revolving Credit Facility's LIBOR interest rate references with Term SOFR, and incorporated various amendments, including amendments to pricing, guarantee and collateral provisions, that will become effective if we receive an investment-grade rating from two of the three credit rating agencies. Debt Issuances In November 2024, we issued $650 million in aggregate principal amount of 5.800% senior secured notes due December 2034. The 2034 Notes are guaranteed by certain of our subsidiaries and secured by a first priority lien on certain assets of DT Midstream and our subsidiary guarantors that secure our existing credit facilities. As part of the issuance of the 2034 Notes, we capitalized debt issuance costs and discount costs of approximately $5 million and $1 million, respectively. In April 2022, we issued $600 million in aggregate principal amount of 4.300% senior secured notes due April 2032. The 2032 Notes are guaranteed by certain of our subsidiaries and secured by a first priority lien on certain assets of DT Midstream and our subsidiary guarantors that secure our existing credit facilities. The 2032 Notes have a security fall away provision where the collateral securing the notes will be released if we receive an investment-grade rating from two of the three credit rating agencies. 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 related 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 year ended December 31, 2024. There were no prepayment costs in conjunction with the early redemption of the Term Loan Facility. In April 2022, we used $593 million of the net proceeds from the sale of the 2032 Notes to make a partial repayment on the existing indebtedness under the Term Loan Facility. The early redemption resulted in a loss on extinguishment of debt of $9 million and loss on modification of debt of $4 million related to the write-off of unamortized discount and issuance costs, which was recorded as a loss from financing activities in our Consolidated Statements of Operations for the year ended December 31, 2022. There were no prepayment costs in conjunction with the partial redemption of the Term Loan Facility. Interest Expense The following table summarizes our interest expense: Year Ended December 31, 2024 2023 2022 (millions) Interest expense $ 163 $ 170 $ 142 Capitalized interest (10) (20) (5) Total interest expense, net $ 153 $ 150 $ 137 Long-Term Debt The following is a summary of long-term debt: Maturity December 31, 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 2034 Notes Senior Secured Notes (a) 5.800% 2034 650 — Term Loan Facility Term Loan Facility Variable 2028 — 399 Long-term debt principal 3,350 3,099 Unamortized debt discount (1) (2) Unamortized debt issuance costs (30) (32) Long-term debt, net $ 3,319 $ 3,065 ______________________________ (a) Interest payable semi-annually in arrears each June 15 and December 15. The first interest payment due on the 2034 Notes is June 15, 2025. (b) Interest payable semi-annually in arrears each April 15 and October 15. The following table presents scheduled debt maturities, excluding any unamortized discount on debt: 2025 2026 2027 2028 2029 and Thereafter Total (millions) Debt maturities $ — — — — 3,350 $ 3,350 Short-Term Credit Arrangements and Borrowings The following table presents the availability under the Revolving Credit Facility: December 31, 2024 (millions) Total availability Revolving Credit Facility, expiring December 2029 $ 1,000 Amounts outstanding Revolving Credit Facility borrowings (a) 150 Letters of credit 16 166 Net availability $ 834 ______________________________ (a) The weighted average interest rate for Revolving Credit Facility borrowings outstanding was 4.34% as of December 31, 2024. 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. The 2024 amendment costs of the Revolving Credit Facility of $3 million were capitalized during the year ended December 31, 2024. Revolving Credit Facility issuance and amendment costs, net of amortization, of $7 million and $6 million as of December 31, 2024 and 2023, respectively, 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. The Credit Agreement covering the Revolving Credit Facility includes financial covenants that we must maintain. These covenants restrict the ability of DT Midstream and our subsidiaries to incur additional indebtedness and guarantee indebtedness, create or incur liens, engage in mergers, consolidations, liquidations or dissolutions, sell, transfer or otherwise dispose of assets, make investments, acquisitions, loans or advances, pay dividends and distributions or repurchase capital stock, prepay, redeem or repurchase certain junior indebtedness, enter into agreements that limit the ability of the restricted subsidiaries to make distributions to DT Midstream or the ability of DT Midstream and our restricted subsidiaries to incur liens on assets and enter into certain transactions with affiliates. The Revolving Credit Facility requires maintenance of (i) a maximum consolidated net leverage ratio of 5 to 1 (except, that the Company may elect to temporarily step up the maximum consolidated net leverage ratio to 5.5 to 1 for a period of up to three fiscal quarters after the consummation of an acquisition or investment involving consideration exceeding $50 million), and (ii) a minimum interest coverage ratio of no less than 2.5 to 1. The consolidated net leverage ratio means the ratio of net debt determined in accordance with GAAP to annual consolidated EBITDA, as defined in the Credit Agreement. The interest coverage ratio means the ratio of annual consolidated EBITDA to annual interest expense, as defined in the Credit Agreement. The Credit Agreement definition of annual consolidated EBITDA excludes EBITDA from equity method investees, but includes dividends and distributions from equity method investees. As of December 31, 2024, the consolidated net leverage ratio and the interest coverage ratio were 2.3 to 1 and 9.3 to 1, respectively, and we were in compliance with these financial covenants. Dividend Restrictions The indentures governing our Senior and Senior Secured Notes permit the payment of quarterly dividends on common stock in each fiscal year up to a dividend capacity calculated as defined in the indentures. For 2024, the dividend capacity remaining at year end was $537 million. The Credit Agreement permits the payment of quarterly dividends on common stock in each fiscal year as long as giving pro forma effect thereto, we maintain a first lien net leverage ratio that does not exceed 3.25 to 1. We maintained such first lien net leverage ratio as of December 31, 2024.

LEASES

LEASES	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
LEASES	LEASES Lessee Our leases are primarily comprised of equipment and buildings with terms ranging from approximately 1 to 11 years. A lease exists when we have the right to control the use of identified property, plant or equipment, as conveyed through a contract, for a certain time period and consideration paid. The right to control is deemed to occur when we have the right to obtain substantially all of the economic benefits of the identified assets and the right to direct the use of such assets. Significant Accounting Policy – Lessee Accounting Lease liabilities are calculated utilizing a discount rate to determine the present values of lease payments. GAAP requires the use of the rate implicit in the lease if it is readily determinable. When the rate implicit in the lease is not readily determinable, the incremental borrowing rate is used. The incremental borrowing rate is based upon the rate of interest that would have been paid on a collateralized basis over similar contract terms to that of the leases. The incremental borrowing rates have been determined utilizing an implied secured borrowing rate based upon an unsecured rate for a similar time period of remaining lease terms, which is then adjusted for the estimated impact of collateral. We have leases with non-index-based escalation clauses for fixed dollar or percentage increases over the contract term. We have certain leases which contain purchase options. Based upon the nature of the leased property and terms of the purchase options, we have determined it is not reasonably certain that such purchase options will be exercised. Thus, the impact of the purchase options has not been included in the determination of right-of-use assets and lease liabilities for the subject leases. We have certain leases which contain renewal options. Where the renewal options were deemed reasonably certain to occur, the impacts of such options were included in the determination of the right-of-use assets and lease liabilities for the subject leases. We have agreements with lease and non-lease components, which are generally accounted for separately. Consideration in a lease is allocated between lease and non-lease components based upon the estimated relative standalone prices. The components of lease cost for the following years includes: Year Ended December 31, 2024 2023 2022 (millions) Operating lease cost $ 21 $ 20 $ 20 Short-term lease cost 3 3 3 $ 24 $ 23 $ 23 Operating lease cost includes amortization of operating lease right-of-use assets and other related costs. We have elected not to apply the lease balance sheet recognition requirements to short-term leases with a term of 12 months or less. Operating and short-term lease costs are recorded to operation and maintenance in our Consolidated Statements of Operations. Other relevant information related to leases for the following years includes: Year Ended December 31, 2024 2023 2022 Supplemental Cash Flows Information (millions, except years and percentages) Cash paid for amounts included in the measurement of these liabilities: Operating cash flows for operating leases $ 21 $ 21 $ 18 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 29 $ 25 $ 14 Weighted Average Remaining Lease Term Operating leases 3.9 years 4.4 years 4.0 years Weighted Average Discount Rate Operating leases 5.3 % 4.8 % 3.5 % Future minimum lease payments under leases for remaining periods as of December 31, 2024 are as follows: Operating Leases (millions) 2025 $ 17 2026 15 2027 14 2028 6 2029 2 2030 and thereafter 3 Total future minimum lease payments 57 Imputed interest (5) Lease liabilities $ 52 Lessor A lease exists when we have provided other parties with the right to control the use of identified property, plant or equipment, as conveyed through a contract, for a certain time period and consideration received. The right to control is deemed to occur when we have provided other parties with the right to obtain substantially all of the economic benefits of the identified assets and the right to direct the use of such assets. We lease certain assets under an operating lease for a pipeline which commenced in December 2018. The lease is comprised of fixed payments with a remaining term of 14 years. The operating lease does not have renewal provisions or options to purchase the assets at the end of the lease and does not have termination for convenience provisions. The lease term extends to the end of the estimated economic life of the leased assets, thereby resulting in no residual value. As part of the Midwest Pipeline Acquisition, one pipeline has agreements with a customer and its subsidiaries that results in the use of substantially all the pipeline's capacity through 2026 and represents an operating lease. Fixed lease income associated with the operating lease was $9 million, $7 million, and $10 million for the years ended December 31, 2024, 2023 and 2022, respectively. Fixed lease income is reported in Operating revenues in our Consolidated Statements of Operations. Depreciation expense associated with the property under the operating lease was $3 million for each of the years ended December 31, 2024, 2023 and 2022. Future minimum rental revenues for remaining periods as of December 31, 2024 are as follows: Operating Lease (millions) 2025 $ 77 2026 62 2027 9 2028 9 2029 9 2030 and thereafter 79 Total future minimum rental revenues $ 245 Property under the operating lease is as follows: December 31, 2024 2023 (millions) Gross property under operating leases $ 484 $ 58 Accumulated amortization of property under operating leases $ 17 $ 15
LEASES	LEASES Lessee Our leases are primarily comprised of equipment and buildings with terms ranging from approximately 1 to 11 years. A lease exists when we have the right to control the use of identified property, plant or equipment, as conveyed through a contract, for a certain time period and consideration paid. The right to control is deemed to occur when we have the right to obtain substantially all of the economic benefits of the identified assets and the right to direct the use of such assets. Significant Accounting Policy – Lessee Accounting Lease liabilities are calculated utilizing a discount rate to determine the present values of lease payments. GAAP requires the use of the rate implicit in the lease if it is readily determinable. When the rate implicit in the lease is not readily determinable, the incremental borrowing rate is used. The incremental borrowing rate is based upon the rate of interest that would have been paid on a collateralized basis over similar contract terms to that of the leases. The incremental borrowing rates have been determined utilizing an implied secured borrowing rate based upon an unsecured rate for a similar time period of remaining lease terms, which is then adjusted for the estimated impact of collateral. We have leases with non-index-based escalation clauses for fixed dollar or percentage increases over the contract term. We have certain leases which contain purchase options. Based upon the nature of the leased property and terms of the purchase options, we have determined it is not reasonably certain that such purchase options will be exercised. Thus, the impact of the purchase options has not been included in the determination of right-of-use assets and lease liabilities for the subject leases. We have certain leases which contain renewal options. Where the renewal options were deemed reasonably certain to occur, the impacts of such options were included in the determination of the right-of-use assets and lease liabilities for the subject leases. We have agreements with lease and non-lease components, which are generally accounted for separately. Consideration in a lease is allocated between lease and non-lease components based upon the estimated relative standalone prices. The components of lease cost for the following years includes: Year Ended December 31, 2024 2023 2022 (millions) Operating lease cost $ 21 $ 20 $ 20 Short-term lease cost 3 3 3 $ 24 $ 23 $ 23 Operating lease cost includes amortization of operating lease right-of-use assets and other related costs. We have elected not to apply the lease balance sheet recognition requirements to short-term leases with a term of 12 months or less. Operating and short-term lease costs are recorded to operation and maintenance in our Consolidated Statements of Operations. Other relevant information related to leases for the following years includes: Year Ended December 31, 2024 2023 2022 Supplemental Cash Flows Information (millions, except years and percentages) Cash paid for amounts included in the measurement of these liabilities: Operating cash flows for operating leases $ 21 $ 21 $ 18 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 29 $ 25 $ 14 Weighted Average Remaining Lease Term Operating leases 3.9 years 4.4 years 4.0 years Weighted Average Discount Rate Operating leases 5.3 % 4.8 % 3.5 % Future minimum lease payments under leases for remaining periods as of December 31, 2024 are as follows: Operating Leases (millions) 2025 $ 17 2026 15 2027 14 2028 6 2029 2 2030 and thereafter 3 Total future minimum lease payments 57 Imputed interest (5) Lease liabilities $ 52 Lessor A lease exists when we have provided other parties with the right to control the use of identified property, plant or equipment, as conveyed through a contract, for a certain time period and consideration received. The right to control is deemed to occur when we have provided other parties with the right to obtain substantially all of the economic benefits of the identified assets and the right to direct the use of such assets. We lease certain assets under an operating lease for a pipeline which commenced in December 2018. The lease is comprised of fixed payments with a remaining term of 14 years. The operating lease does not have renewal provisions or options to purchase the assets at the end of the lease and does not have termination for convenience provisions. The lease term extends to the end of the estimated economic life of the leased assets, thereby resulting in no residual value. As part of the Midwest Pipeline Acquisition, one pipeline has agreements with a customer and its subsidiaries that results in the use of substantially all the pipeline's capacity through 2026 and represents an operating lease. Fixed lease income associated with the operating lease was $9 million, $7 million, and $10 million for the years ended December 31, 2024, 2023 and 2022, respectively. Fixed lease income is reported in Operating revenues in our Consolidated Statements of Operations. Depreciation expense associated with the property under the operating lease was $3 million for each of the years ended December 31, 2024, 2023 and 2022. Future minimum rental revenues for remaining periods as of December 31, 2024 are as follows: Operating Lease (millions) 2025 $ 77 2026 62 2027 9 2028 9 2029 9 2030 and thereafter 79 Total future minimum rental revenues $ 245 Property under the operating lease is as follows: December 31, 2024 2023 (millions) Gross property under operating leases $ 484 $ 58 Accumulated amortization of property under operating leases $ 17 $ 15

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 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 December 31, 2024. Purchase Commitments As of December 31, 2024, we were party to long-term purchase commitments relating to a variety of goods and services required for our business. We estimate lifetime purchase commitments of approximately $95 million, due in the periods shown below. (millions) 2025 $ 14 2026 13 2027 12 2028 12 2029 12 2030 and thereafter 32 Total $ 95 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 December 31, 2024 is $30 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 December 31, 2024 is USD $49 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

STOCK-BASED COMPENSATION AND DE

STOCK-BASED COMPENSATION AND DEFINED CONTRIBUTION PLANS	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION AND DEFINED CONTRIBUTION PLANS	STOCK-BASED COMPENSATION AND DEFINED CONTRIBUTION PLANS The DT Midstream, Inc. Long-Term Incentive Plan permits the grant of incentive and nonqualified stock options, stock appreciation rights, restricted stock awards and restricted stock units, performance share awards, and performance units to employees, consultants and members of DT Midstream's Board of Directors. As a result of a restricted stock award grant, restricted stock unit or performance share award settlement, or by exercise of a stock option, we may issue common stock from our authorized but unissued common stock and/or from outstanding common stock acquired by or on behalf of DT Midstream in the participant's name. Key provisions of the DT Midstream Plan are: • Authorized limit as of December 31, 2024 was 8,250,000 shares of common stock. The authorized limit increases annually on January 1 by the lesser of 1,750,000 shares of common stock or the amount determined by the DT Midstream Board of Directors. • Prohibits the grant of a stock option with an exercise price that is less than the fair market value of DT Midstream's stock on the grant date. The following table summarizes our stock-based compensation expense and the related income tax benefit: Year Ended December 31, 2024 2023 2022 (millions) Stock-based compensation expense $ 23 $ 20 $ 17 Tax benefit $ 5 $ 5 $ 4 Restricted Stock Units Restricted stock units granted under the DT Midstream Plan are for a specified number of shares of DT Midstream common stock that entitle the holder to receive common stock, a cash payment, or a combination thereof at the end of the specified vesting period, which is generally three During the vesting period, the number of restricted stock units granted will increase, assuming full dividend reinvestment on each dividend payment date. The recipient of a restricted stock unit has no shareholder rights during the vesting period. Restricted stock units are nontransferable and subject to risk of forfeiture during the vesting period. Forfeitures are recognized in the period they occur. The following table summarizes restricted stock unit activity for the year ended December 31, 2024: Restricted Weighted- Average (thousands) (per share) Nonvested as of December 31, 2023 417 $ 45.82 Granted (a) 152 60.37 Forfeited (4) 49.35 Vested (b) (104) 42.40 Nonvested as of December 31, 2024 461 $ 51.37 ____________________________________ (a) Includes initial grants and dividends reinvested. (b) Includes vested, not issued shares of two thousand at December 31, 2024. Shares will be issued in first quarter 2025. The weighted-average grant date fair value of restricted stock units granted, excluding dividends reinvested, during the years ended December 31, 2024, 2023 and 2022 was $62.63, $52.66 and $52.25, respectively. The intrinsic value of restricted stock units vested and issued during the years ended December 31, 2024, 2023 and 2022 was $7 million, $8 million, and $3 million, respectively. Performance Share Awards Performance share awards granted under the DT Midstream Plan are for a specified number of shares of DT Midstream common stock that entitle the holder to receive common stock, a cash payment, or a combination thereof at the end of the specified vesting period, which is generally three years. Performance share awards are deemed to be equity awards. Performance share stock-based compensation expense is accrued over the vesting period based on the grant date fair value calculated using: (i) DT Midstream's closing common stock price on the grant date; (ii) the grant date fair value of the market condition; and (iii) the probable achievement of performance objectives. The number of shares issued at settlement is determined based on market conditions and the achievement of certain DT Midstream performance objectives. Performance share awards are settled with DT Midstream common stock and fractional shares are settled in cash. During the vesting period, the number of performance share awards granted will increase, assuming full dividend reinvestment on each dividend payment date. The recipient of a performance share award has no shareholder rights during the vesting period. Performance share awards are nontransferable and are subject to risk of forfeiture during the vesting period. Forfeitures are recognized in the period they occur. The following table summarizes performance share award activity for the year ended December 31, 2024: Performance Share Awards Weighted- Average (thousands) (per share) Nonvested as of December 31, 2023 557 $ 64.36 Granted (a) 372 55.32 Forfeited (29) 59.66 Settled (199) 48.12 Nonvested as of December 31, 2024 701 $ 64.38 _____________________________________ (a) Includes initial grants, dividends reinvested and shares added for achievement of final performance objectives on settled awards. The weighted-average grant date fair value of performance share awards granted, excluding dividends reinvested, during the years ended December 31, 2024, 2023 and 2022 was $52.05, $53.74 and $72.91, respectively. The intrinsic value of performance share awards settled during the years ended December 31, 2024, 2023 and 2022 was $10 million, $9 million and $4 million, respectively. Unrecognized Compensation Costs As of December 31, 2024, we had $27 million of total unrecognized compensation costs related to non-vested stock incentive plan arrangements. The unrecognized compensation cost is expected to be recognized over a weighted-average period of 1.77 years. Defined Contribution Plans We sponsor defined contribution retirement savings plans, and participation in one of these plans is available to substantially all employees. We match employee contributions up to certain predefined and Internal Revenue Service limits based on eligible compensation and each employee's contribution rate, and contribute additional amounts in lieu of traditional pension and post-employment healthcare benefits. DT Midstream's cost for these plans was $7 million, $7 million and $5 million for the years ended December 31, 2024, 2023 and 2022, respectively.

SEGMENT AND RELATED INFORMATION

SEGMENT AND RELATED INFORMATION	12 Months Ended
	Dec. 31, 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 two segments: Pipeline and Gathering. Our Chief Operating Decision Maker (CODM) has been identified as our Chief Executive Officer. Our CODM regularly evaluates financial information regarding these segments in deciding how to allocate resources and in assessing our operating and financial performance. We manage and report our operations primarily according to the nature of our products and services. Our plants, pipelines and other fixed assets are located in the U.S. and Canada. 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 are presented in our Pipeline segment as of December 31, 2024. During the three months ended March 31, 2023, we completed the conversion of the Michigan System from gathering to dry gas transmission service and began providing services under a new long-term dry gas transmission contract. For the years ended December 31, 2024 and 2023, the Michigan System financial results are presented in the Pipeline segment. The 2022 comparative activity was for gathering services and therefore was not revised from presentation in the Gathering 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. Our CODM uses Net Income Attributable to DT Midstream to allocate resources, including employees, property, and financial or capital resources, for each segment predominantly in the annual budget and forecasting process. Our CODM considers budget-to-actual variances on a monthly basis when making decisions about allocating capital and personnel to the segments. The CODM also uses Net Income Attributable to DT Midstream to assess the performance for each segment by comparing the results of each segment. Net Income Attributable to DT Midstream is an important performance measure of the core profitability of our operations and forms the basis of our internal and external financial reporting. We believe that investors benefit from having access to the same financial measures that our management uses in evaluating segment results. 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 years ended December 31, 2024, 2023 and 2022. Financial data for our business segments follows: Year Ended December 31, 2024 Pipeline Gathering Total Reportable Segments Eliminations Total Consolidated (millions) Revenues Operating revenues $ 443 $ 538 $ 981 $ — $ 981 Operating Expenses Operation and maintenance 68 176 244 — 244 Depreciation and amortization 74 135 209 — 209 Taxes other than income 22 17 39 — 39 Other (Income) and Deductions Interest expense 47 106 153 — 153 Interest income (4) (3) (7) — (7) Earnings from equity method investees (162) — (162) — (162) Loss from financing activities 3 2 5 — 5 Other income (1) (3) (4) — (4) Income Tax Expense 107 30 137 — 137 Less: Net Income Attributable to Noncontrolling Interests 13 — 13 — 13 Net Income Attributable to DT Midstream $ 276 $ 78 $ 354 $ — $ 354 Capital expenditures $ 73 $ 277 $ 350 $ — $ 350 Acquisition accounted for as a business combination $ 1,198 $ — $ 1,198 $ — $ 1,198 December 31, 2024 Investments in equity method investees $ 1,297 $ — $ 1,297 $ — $ 1,297 Goodwill 356 420 776 — 776 Total Assets $ 5,274 $ 4,661 $ 9,935 $ — $ 9,935 Year Ended December 31, 2023 Pipeline Gathering Total Reportable Segments Eliminations Total Consolidated (millions) Revenues Operating revenues $ 377 $ 545 $ 922 $ — $ 922 Operating Expenses Operation and maintenance 55 190 245 — 245 Depreciation and amortization 69 113 182 — 182 Taxes other than income 15 13 28 — 28 Asset (gains) losses and impairments, net (4) — (4) — (4) Other (Income) and Deductions Interest expense 55 95 150 — 150 Interest income (1) — (1) — (1) Earnings from equity method investees (177) — (177) — (177) Other income — (1) (1) — (1) Income Tax Expense 75 29 104 — 104 Less: Net Income Attributable to Noncontrolling Interests 12 — 12 — 12 Net Income Attributable to DT Midstream $ 278 $ 106 $ 384 $ — $ 384 Capital expenditures $ 255 $ 517 $ 772 $ — $ 772 December 31, 2023 Investments in equity method investees $ 1,762 $ — $ 1,762 $ — $ 1,762 Goodwill 53 420 473 — 473 Total Assets $ 4,439 $ 4,543 $ 8,982 $ — $ 8,982 Year Ended December 31, 2022 Pipeline Gathering Total Reportable Segments Eliminations Total Consolidated (millions) Revenues Operating revenues $ 339 $ 581 $ 920 $ — $ 920 Operating Expenses Operation and maintenance 54 213 267 — 267 Depreciation and amortization 63 107 170 — 170 Taxes other than income 14 14 28 — 28 Asset (gains) losses and impairments, net (6) (17) (23) — (23) Other (Income) and Deductions Interest expense 57 80 137 — 137 Interest income (1) (2) (3) — (3) Earnings from equity method investees (150) — (150) — (150) Loss from financing activities 6 7 13 — 13 Other income — (1) (1) — (1) Income Tax Expense 62 38 100 — 100 Less: Net Income Attributable to Noncontrolling Interests 12 — 12 — 12 Net Income Attributable to DT Midstream $ 228 $ 142 $ 370 $ — $ 370 Capital expenditures and acquisitions $ 638 $ 252 $ 890 $ — $ 890 December 31, 2022 Investments in equity method investees $ 2,200 $ — $ 2,200 $ — $ 2,200 Goodwill 53 420 473 — 473 Total Assets $ 4,625 $ 4,208 $ 8,833 $ — $ 8,833

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS Transactions between DT Midstream and our equity method investees have been presented as related party transactions in the accompanying Consolidated Financial Statements. The following is a summary of our balances with related parties: December 31, 2024 2023 (millions) Notes receivable from Vector — long-term $ 4 $ 4 Current Liabilities — Other $ 1 $ 1

ACQUISITIONS

ACQUISITIONS	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
ACQUISITIONS	ACQUISITIONS Clean Fuels Acquisition On July 1, 2024, DT Midstream closed on the purchase of Clean Fuels Gathering from a privately held coal mine methane producer for purchase consideration of $12 million plus immaterial transaction costs, which was accounted for as an asset acquisition. The Clean Fuels Acquisition was primarily comprised of gathering and treating assets that process coal mine methane into pipeline quality gas which was capitalized as property, plant and equipment. The Clean Fuels Acquisition aligns with our strategy to pursue economically attractive opportunities and deploy GHG reducing technologies and is expected to generate carbon offsets and federal income tax credits. A concurrent gas supply agreement was executed which requires contingent payments from DT Midstream of up to $34 million upon the completion of certain milestones, including cumulative production and income tax credits, and variable payments under a sharing mechanism that could be material. As of December 31, 2024, one milestone had been achieved and $10 million was recorded as a long-term prepaid asset in Other assets and Accounts payable in DT Midstream's Consolidated Statements of Financial Position. The Clean Fuels Gathering assets and results of operations after the July 1, 2024 acquisition date are presented in our Gathering segment. Midwest Pipeline Acquisition On December 31, 2024, we closed on the Midwest Pipeline Acquisition of three FERC-regulated natural gas transmission pipelines from ONEOK for a purchase price of $1.2 billion, which is subject to certain customary purchase price adjustments. Under the terms of the agreement, DT Midstream acquired 100% operating ownership in Guardian, Midwestern and Viking. The pipelines have a total capacity of approximately 3.7 Bcf/d and 1,300 miles across seven states in the Midwest market region. • Guardian Pipeline, L.L.C. is a 263-mile interstate pipeline which connects to the Chicago Hub and serves key Wisconsin demand centers; • Midwestern Gas Transmission Company is a 402-mile bi-directional interstate pipeline which connects Appalachia supply to the Midwest market region between Tennessee and the Chicago Hub; and • Viking Gas Transmission Company is a 674-mile bi-directional interstate pipeline which serves key utility customers in Minnesota, Wisconsin and North Dakota. The Midwest Pipeline Acquisition has potential commercial synergies and it directly aligns with DT Midstream's strategy of owning natural gas assets serving key demand centers and market regions, and with revenues supported by take-or-pay contracts with creditworthy and diverse customers. The cash consideration provided for the assets acquired was approximately $1.2 billion. The acquisition was accounted for using the acquisition method of accounting for business combinations. Assets acquired and liabilities assumed were measured at estimated fair value at the acquisition date. The FERC-regulated pipelines are subject to rate making and cost recovery provisions and are accounted for under ASC 980 guidance as discussed in Note 17, "Regulatory Matters" to the Consolidated Financial Statements. As such, the fair value of assets acquired and liabilities assumed subject to these provisions approximates their regulated basis, and therefore no fair value adjustments have been reflected related to these amounts. The intangible assets recorded as a result of the acquisition pertain to existing customer relationships, which were valued at approximately $11 million as of the acquisition date. This fair value was estimated by applying the multi-period excess earnings method, which estimates the value of the intangible asset based upon the present value of the incremental after-tax cash flows solely attributable to the existing customer relationships. The fair value measurement uses significant unobservable inputs, including management estimates and assumptions, and thus represents a fair value Level 3 measurement, pursuant to the applicable accounting guidance. Key estimates and inputs include revenue and expense projections and discount rates based on the risks associated with the intangible assets, and contributory asset charges. The intangible assets are amortized on a straight-line basis over a period of 5 years, which is the number of years the assets are expected to generate incremental after-tax cash flows. The excess purchase price over the fair value of net assets acquired and liabilities assumed was classified as goodwill. The factors contributing to the recognition of goodwill were based on various strategic benefits that are expected to be realized from the acquisition. The acquisition provides us with a platform for growth and access to further investment opportunities. For income tax purposes, the transaction is treated as a taxable deemed asset acquisition. Accordingly, the majority of deferred income tax assets and liabilities of the acquired entities are eliminated as the tax bases were increased to fair market value which equals net book value. See Note 7, "Income Taxes" to the Consolidated Financial Statements. The preliminary allocation of the purchase price is based on estimated fair values of the assets acquired and liabilities assumed at the date of acquisition, December 31, 2024. The purchase price is subject to final working capital settlement adjustments and other potential valuation adjustments during the one year measurement period per the business combination guidance. The components of the preliminary purchase price allocation are as follows: December 31, 2024 (millions) Assets Accounts receivable $ 29 Other current assets 10 Property, plant, and equipment, net 933 Goodwill 303 Customer relationship intangible assets 11 Regulatory assets 10 Other assets 22 $ 1,318 Liabilities Accounts payable $ 12 Property taxes payable 5 Other current liabilities 3 Regulatory liabilities 90 Other liabilities 10 $ 120 Total cash consideration $ 1,198 DT Midstream incurred approximately $5 million of direct transaction costs for the acquisition during the year ended December 31, 2024. These costs were primarily related to legal and advisory fees and are included in operation and maintenance in DT Midstream's Consolidated Statements of Operations. The Midwest Pipeline Acquisition assets are presented in our Pipeline segment as of December 31, 2024. Pro forma Financial Information The Midwest Pipeline Acquisition was completed on December 31, 2024, therefore the acquisition had no impact on our consolidated revenues and earnings for the twelve months ended December 31, 2024. The following unaudited pro forma summary presents our consolidated information as if the acquisition had occurred on January 1, 2023 using our records and seller provided information. The unaudited pro forma financial information does not purport to be indicative of the combined results of operations which would have actually been obtained had the acquisition taken place on January 1, 2023, nor should it be taken as indicative of future consolidated results of operations. The pro forma earnings for the years ended December 31, 2024 and 2023 were adjusted to include net interest expense, after tax, of $11 million and $23 million, respectively, related to the 2034 Senior Notes issued to fund the acquisition offset by the elimination of interest expense on debt held by the acquired pipelines, which was paid off at the acquisition date. Income tax expense of $22 million related to the remeasurement of state deferred income taxes as a result of the acquisition were excluded from the year ended December 31, 2024 and included in the year ended December 31, 2023. Transaction costs, after tax, of $7 million, which includes Bridge Financing fees and legal and professional expenses, were excluded from the year ended December 31, 2024 and included in the year ended December 31, 2023. Other adjustments, after tax, of $1 million and $4 million were included for the years ended December 31, 2024 and 2023, respectively. Pro forma (Unaudited) Years Ended December 31, 2024 2023 (in millions) Revenue $ 1,182 $ 1,091 Net Income attributable to DT Midstream $ 430 $ 377

REGULATORY MATTERS

REGULATORY MATTERS	12 Months Ended
	Dec. 31, 2024
Regulated Operations [Abstract]
REGULATORY MATTERS	REGULATORY MATTERS Significant Accounting Policy – Regulation Guardian, Midwestern and Viking are subject to rate regulation and accounting requirements of the FERC. The regulated operations of each of these subsidiaries have rates that are (i) established by independent, third-party regulators, (ii) set at levels that will recover our costs when considering the demand and competition for our services and (iii) collectible from our customers. Accordingly, we follow the accounting for regulated operations as defined in ASC 980, Regulated Operations for these pipelines, which results in differences in the application of GAAP between our regulated and non-regulated businesses. During the rate-making process, FERC sets the framework for what we can charge to and collect from our customers for our services and establish the manner that our costs are accounted for, including allowing us to defer recognition of certain costs and permitting recovery of the amounts through rates over time as opposed to expensing such costs as incurred. Examples include costs for fuel and losses, contributions in aid of construction, charges for depreciation, gains or losses on disposition of assets and deferral of tax benefits related to changes in tax rates. Regulatory Assets and Liabilities Under ASC 980, our regulated operations are required to record regulatory assets and liabilities for certain transactions that would have been treated as revenue or expense in non-regulated businesses. Future regulatory changes could result in changes in the amounts of regulatory assets and liabilities or the discontinuance of this accounting treatment for regulatory assets and liabilities and may require the write-off of the portion of any regulatory asset or liability that is no longer probable of recovery through regulated rates. Actions by regulatory authorities could also have an effect on the amounts we charge to and collect from our customers. Any difference in the amounts recoverable or deferred is recorded as income or expense at the time of regulatory action. Continued applicability of regulatory accounting treatment requires that rates be designed to recover specific costs of providing regulated services and be charged to and collected from customers. We believe that currently available facts support the continued use of regulatory accounting and that all regulatory assets and liabilities are recoverable or refundable in the current regulatory environment. Regulatory assets are included in Other Assets – Other on our Consolidated Statement of Financial Position. The following includes balances and descriptions of our regulatory assets and liabilities. December 31, 2024 (millions) Regulatory Assets Recoverable income taxes related to AFUDC equity $ 7 Load Management Services Cost Recovery Mechanism 2 Other regulatory assets 1 $ 10 Regulatory Liabilities Refundable federal income taxes $ 79 Removal costs liability 11 $ 90 As noted below, certain Regulatory assets for which costs have been incurred were included (or are expected to be included, for costs incurred subsequent to the most recently approved rate case) in the rate base, thereby providing a return on invested costs (except as noted). Certain other Regulatory assets are not included in the rate base but accrue recoverable carrying charges until tariff rates adjusted to collect the assets are billed. Certain Regulatory assets do not result from cash expenditures and therefore do not represent investments included in rate base or have offsetting liabilities that reduce rate base. Regulatory Assets • Recoverable income taxes related to AFUDC equity - Accounting standards for income taxes require recognition of a deferred tax liability for the equity component of AFUDC. A Regulatory asset is required for the future increase in taxes payable related to the equity component of AFUDC that will be recovered from customers through future rates over the remaining life of the related property, plant and equipment. • Load Management Services Cost Recovery Mechanism - The mechanism reconciles the differences between the cost to our pipelines to maintain their line pack gas and the amounts our pipelines receive or pay for such gas to resolve imbalances with customers and pipeline interconnects and as may be otherwise necessary to maintain an appropriate level of line pack for system management purposes. The balance is recovered through an annual update to the LMS tariff rate applied to daily imbalance volumes with counterparties. The recoverable amount is not earning a return or accruing carrying charges. Liabilities • Refundable federal income taxes - In December 2017, the Tax Cuts and Jobs Acts ("TCJA") was enacted and reduced the corporate income tax rate, effective January 1, 2018. Guardian, Midwestern and Viking remeasured deferred taxes, resulting in a reduction to deferred tax liabilities, to reflect the impact of the TCJA on the cumulative temporary differences expected to reverse after the effective date. Regulatory liabilities were established for the anticipated return to ratepayers of deferred income taxes through reductions in future rates. The current amount of amortization and method for amortization of each pipeline’s Regulatory liability related to the TCJA tax rate change has been determined in each pipeline’s most recent rate proceedings. • Removal costs liability - The amounts collected from customers to fund future asset removal activities in excess of removal costs incurred. The annual amount accumulated in this liability is based on rates established in the most recent rate proceedings for each pipeline. The rate is multiplied by the depreciable base for each applicable asset category to calculate the annual amount accumulated in this liability. Rate Case Settlements The settlement dates for the most recent FERC rate proceedings for Guardian, Midwestern and Viking were February 15, 2023, May 3, 2022 and July 31, 2024, respectively. As of December 31, 2024, there were no open FERC proceedings for these pipelines.

SUBSEQUENT EVENT

SUBSEQUENT EVENT	12 Months Ended
	Dec. 31, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENT	SUBSEQUENT EVENT Dividend Declaration On February 26, 2025, we announced that our Board of Directors declared a quarterly dividend of $0.82 per share of common stock. The dividend is payable to our stockholders of record as of March 17, 2025 and is expected to be paid on April 15, 2025.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income Attributable to DT Midstream	$ 354	$ 384	$ 370

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 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

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	To identify and manage the material risks of cybersecurity threats to our business, operations and control environments, we have made investments in our technology and have implemented policies, programs and controls, with a focus on cybersecurity incident prevention and mitigation. Our cybersecurity program is integrated into our risk management process and is managed by a dedicated cybersecurity team that is responsible for leading enterprise-wide cybersecurity strategy, policy, standards, architecture, and processes. The program is aligned with industry standards and best practices, such as the National Institute of Standards and Technology Cybersecurity Framework. As part of our cybersecurity process, we engage external experts and consultants to assess our cybersecurity program and compliance with applicable practices and standards. The Company mitigates risks from cybersecurity incidents using a multifaceted approach which includes but is not limited to: establishing information security policies, implementing information protection processes and technologies, assessing cybersecurity risk, implementing cybersecurity training, monitoring our information technology systems, and collaborating with public and private organizations on best practices. The Company is currently in material compliance with relevant information privacy and cybersecurity governmental standards with which it is required to comply.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	To identify and manage the material risks of cybersecurity threats to our business, operations and control environments, we have made investments in our technology and have implemented policies, programs and controls, with a focus on cybersecurity incident prevention and mitigation. Our cybersecurity program is integrated into our risk management process and is managed by a dedicated cybersecurity team that is responsible for leading enterprise-wide cybersecurity strategy, policy, standards, architecture, and processes. The program is aligned with industry standards and best practices, such as the National Institute of Standards and Technology Cybersecurity Framework. As part of our cybersecurity process, we engage external experts and consultants to assess our cybersecurity program and compliance with applicable practices and standards.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	The Company's Board of Directors is engaged in overseeing and reviewing the Company’s strategic direction and objectives, taking into account, among other considerations, the Company’s risk profile and exposures.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	While the Board of Directors retains oversight over policy and strategy related to cybersecurity, it has delegated the responsibility for the oversight of the Company’s cybersecurity program to the Audit Committee.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Audit Committee is responsible for reviewing and discussing the Company’s policies regarding risk assessment and risk management, major accounting risk exposures and the implementation and effectiveness of risk management protocols with respect to information technology security and cybersecurity risks, as well as reviewing material breaches and attacks, as applicable.
Cybersecurity Risk Role of Management [Text Block]	Our Director of Cybersecurity has over 20 years of relevant experience and is responsible for managing our cybersecurity program and team, which monitors the day-to-day risks using the approach described above. Material near-term and long-term risks are communicated with senior management and the Board of Directors. The Company's Board of Directors is engaged in overseeing and reviewing the Company’s strategic direction and objectives, taking into account, among other considerations, the Company’s risk profile and exposures. While the Board of Directors retains oversight over policy and strategy related to cybersecurity, it has delegated the responsibility for the oversight of the Company’s cybersecurity program to the Audit Committee. The Audit Committee is responsible for reviewing and discussing the Company’s policies regarding risk assessment and risk management, major accounting risk exposures and the implementation and effectiveness of risk management protocols with respect to information technology security and cybersecurity risks, as well as reviewing material breaches and attacks, as applicable.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Our Director of Cybersecurity has over 20 years of relevant experience and is responsible for managing our cybersecurity program and team, which monitors the day-to-day risks using the approach described above. Material near-term and long-term risks are communicated with senior management and the Board of Directors.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our Director of Cybersecurity has over 20 years of relevant experience and is responsible for managing our cybersecurity program and team, which monitors the day-to-day risks using the approach described above.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Our Director of Cybersecurity has over 20 years of relevant experience and is responsible for managing our cybersecurity program and team, which monitors the day-to-day risks using the approach described above. Material near-term and long-term risks are communicated with senior management and the Board of Directors. The Company's Board of Directors is engaged in overseeing and reviewing the Company’s strategic direction and objectives, taking into account, among other considerations, the Company’s risk profile and exposures. While the Board of Directors retains oversight over policy and strategy related to cybersecurity, it has delegated the responsibility for the oversight of the Company’s cybersecurity program to the Audit Committee. The Audit Committee is responsible for reviewing and discussing the Company’s policies regarding risk assessment and risk management, major accounting risk exposures and the implementation and effectiveness of risk management protocols with respect to information technology security and cybersecurity risks, as well as reviewing material breaches and attacks, as applicable.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation` The 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 Consolidated Financial Statements include all adjustments, consisting of normal recurring adjustments, necessary to present a fair statement of our financial position as of December 31, 2024, results of operations for the years ended December 31, 2024, 2023 and 2022, statement of changes in stockholders' equity for the years ended December 31, 2024, 2023 and 2022, and cash flows for the years ended December 31, 2024, 2023 and 2022.
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 December 31, 2024. As of December 31, 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 December 31, 2024. Notes receivable are typically considered delinquent (past due) when payment is not received for periods ranging from 60 to 120 days. We cease accruing interest income (nonaccrual status) and may either write off or establish an allowance for expected credit loss for the note receivable when it is expected that all contractual principal or interest amounts due will not be collected. In determining an allowance for expected credit losses for or the write off of notes receivable, we consider the historical payment experience and other factors that are expected to have a specific impact on collection, including existing and future economic conditions. Cash receipts for notes receivable on nonaccrual status that do not bring the account contractually current are first applied to contractually owed past due interest, with any remainder applied to principal. Recognition of interest income is generally resumed when the note receivable becomes contractually current. We had an investment in certain assets in the Utica Shale region which was accounted for as a note receivable — third party. A third party purchased our investment in certain assets in the Utica Shale region based on significantly improved commodity pricing during the second quarter 2022 for proceeds of $22 million. This resulted in a gain of $17 million recorded in Asset (gains) losses and impairments, net on the Consolidated Statement of Operations. We maintain no continuing involvement with the note receivable.
Property, Plant, and Equipment	Property, Plant, and Equipment Property is stated at cost and includes construction-related labor, materials, overhead and capitalized interest. Property for FERC-Regulated entities includes equity AFUDC. Equity AFUDC represents the capitalization of the estimated average cost of equity during construction projects and is recorded as a credit to allowance for funds used during construction in our Consolidated Statements of Operations.
Intangible Assets	Intangible Assets
Long-Lived Assets	Long-Lived Assets Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. If the carrying amount of the asset exceeds the expected undiscounted future cash flows generated by the asset, an impairment loss is recognized resulting in the asset being written down to its estimated fair value. Assets to be disposed of are reported at the lower of the carrying amount or fair value, less costs to sell.
Purchase Accounting	Purchase Accounting In accordance with the business combination acquisition method of accounting, the assets acquired and liabilities assumed in an acquired business are measured at their estimated fair values at the acquisition date.
Goodwill	Goodwill
Operation and Maintenance	Operation and Maintenance
Depreciation and Amortization	Depreciation and Amortization Depreciation and amortization is related to Property, plant and equipment and Customer relationships and other intangible assets, net, used in our transportation, storage and gathering businesses.
Recently Adopted Pronouncements and Recently Issued Pronouncements	Recently Adopted 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 adopted this ASU on December 31, 2024, and applied the amendments retrospectively to all prior periods presented in our Consolidated Financial Statements. See Note 14, "Segment and Related Information," to the Consolidated Financial Statements. Recently Issued Pronouncements 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. In November 2024, the FASB issued ASU No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40) - Disaggregation of Income Statement Expenses. The amendments require enhanced disclosures of specified costs and expenses included in significant expense captions in the income statement, including purchases of inventory, employee compensation, depreciation, amortization, and other key amounts. The FASB subsequently issued ASU No. 2025-01 in January 2025 to clarify the effective date of ASU No. 2024-03. The amendments are effective for fiscal years beginning after December 15, 2026 and interim reporting periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. We are currently evaluating the impact of this standard's adoption on our Consolidated Financial Statements.
Revenue	Significant Accounting Policy – Revenue Pipeline revenues consist of services related to the gathering, transportation and/or storage of natural gas. Gathering revenues consist of services related to the gathering, processing, and/or treating of natural gas. Revenue is measured based upon the pricing or consideration for such services specified in the contract with a customer. Consideration may consist of both fixed components including fixed demand charges and fixed deficiency fee rates for MVCs, and variable components including fixed rates for the actual volumes flowed under interruptible services and other associated fees. Our contracts with customers generally contain a single performance obligation, which is a promise to deliver either a distinct service or a series of distinct services to the customer. When multiple performance obligations exist, the contract consideration is allocated between the performance obligations based on the relative standalone selling price, which is determined by prices charged to customers or the adjusted market assessment approach. The adjusted market assessment approach involves evaluating the market in which we sell services and estimating the price that a customer in that market would be willing to pay. Revenue is recognized when performance obligations are satisfied by delivering a service to a customer, which occurs when the service is provided to the customer. When a customer simultaneously receives and consumes the service provided, revenue is recognized over time. Alternatively, if it is determined that the criteria for recognition of revenue over time is not met, the revenue is considered to be recognized at a point in time. Our revenues, including estimated unbilled amounts, are generally recognized over time as actual services are provided, or ratably over time when providing a stand-ready service. Unbilled amounts are generally determined using preliminary meter data volumes and contracted pricing, and typically result in minor adjustments. Generally, uncertainties in the variable consideration components are resolved and revenue amounts are known at the time of recognition. We have determined that the above methods represent a faithful depiction of delivering a service to the customer. Revenues are typically billed and consideration received monthly, however, certain deficiency fees related to MVCs are billed quarterly or annually.
Accounting for Income Taxes	Significant Accounting Policy – Accounting for Income Taxes We record the effect of income taxes in accordance with GAAP, which provides for the use of an asset and liability approach. Deferred income tax assets and liabilities are recognized for temporary differences between the basis of assets and liabilities for financial reporting and tax purposes and measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities as a result of changes in the enacted tax rates is recognized in earnings in the period of enactment. Our recognition of deferred tax assets is based upon a more-likely-than-not criterion. We routinely assess realizability based on objectively-weighted, available positive and negative evidence.
Lessee	Significant Accounting Policy – Lessee Accounting Lease liabilities are calculated utilizing a discount rate to determine the present values of lease payments. GAAP requires the use of the rate implicit in the lease if it is readily determinable. When the rate implicit in the lease is not readily determinable, the incremental borrowing rate is used. The incremental borrowing rate is based upon the rate of interest that would have been paid on a collateralized basis over similar contract terms to that of the leases. The incremental borrowing rates have been determined utilizing an implied secured borrowing rate based upon an unsecured rate for a similar time period of remaining lease terms, which is then adjusted for the estimated impact of collateral. We have leases with non-index-based escalation clauses for fixed dollar or percentage increases over the contract term. We have certain leases which contain purchase options. Based upon the nature of the leased property and terms of the purchase options, we have determined it is not reasonably certain that such purchase options will be exercised. Thus, the impact of the purchase options has not been included in the determination of right-of-use assets and lease liabilities for the subject leases. We have certain leases which contain renewal options. Where the renewal options were deemed reasonably certain to occur, the impacts of such options were included in the determination of the right-of-use assets and lease liabilities for the subject leases. We have agreements with lease and non-lease components, which are generally accounted for separately. Consideration in a lease is allocated between lease and non-lease components based upon the estimated relative standalone prices.
Lessor	Lessor A lease exists when we have provided other parties with the right to control the use of identified property, plant or equipment, as conveyed through a contract, for a certain time period and consideration received. The right to control is deemed to occur when we have provided other parties with the right to obtain substantially all of the economic benefits of the identified assets and the right to direct the use of such assets. We lease certain assets under an operating lease for a pipeline which commenced in December 2018. The lease is comprised of fixed payments with a remaining term of 14 years. The operating lease does not have renewal provisions or options to purchase the assets at the end of the lease and does not have termination for convenience provisions. The lease term extends to the end of the estimated economic life of the leased assets, thereby resulting in no residual value.

DESCRIPTION OF THE BUSINESS A_2

DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION (Tables)	12 Months Ended
	Dec. 31, 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 December 31, 2024 and 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. December 31, 2024 2023 (millions) ASSETS (a) Cash $ 17 $ 13 Accounts receivable 11 10 Other current assets 2 2 Intangible assets, net 468 483 Property, plant and equipment, net 391 391 Goodwill 25 25 $ 914 $ 924 LIABILITIES (a) Accounts payable and other current liabilities $ 5 $ 4 Other noncurrent liabilities 3 3 $ 8 $ 7 _____________________________________ (a) Amounts shown are 100% of the consolidated VIEs' assets and liabilities.
Schedule of Equity Method Investments	Earnings from equity method investees include: Year Ended December 31, 2024 2023 2022 (millions) NEXUS $ 62 $ 68 $ 61 Vector 41 38 36 Millennium 59 71 53 Total earnings from equity method investees $ 162 $ 177 $ 150 Equity method investees are described below: Investments As of % Owned As of December 31, December 31, Equity Method Investee 2024 2023 2024 2023 (millions) NEXUS $ 880 $ 900 50% 50% Vector 134 135 40% 40% Millennium 283 727 52.5% 52.5% Total investments in equity method investees $ 1,297 $ 1,762 The following tables present 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 balance sheet data is as follows: December 31, 2024 2023 (millions) Current assets $ 170 $ 159 Noncurrent assets 3,939 4,057 Current liabilities 209 208 Noncurrent liabilities $ 1,930 $ 1,177 Summarized income statement data is as follows: Year Ended December 31, 2024 2023 2022 (millions) Operating revenues $ 818 $ 823 $ 800 Operating expenses 376 377 396 Net Income $ 364 $ 392 $ 372

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Schedule of Significant Other Accounting Policies	Other Significant Accounting Policies Footnote Title Note 1 Equity Method Investments Note 4 Revenue Note 7 Income Taxes Note 9 Fair Value Note 11 Leases Note 14 Reportable Segments Note 16 Acquisitions Note 17 Regulation

REVENUE (Tables)

REVENUE (Tables)	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following is a summary of revenues disaggregated by segment: Year Ended December 31, 2024 2023 2022 (millions) Pipeline (a) $ 443 $ 377 $ 339 Gathering 538 545 581 Total operating revenues $ 981 $ 922 $ 920 __________________________________ (a) Includes revenues outside the scope of ASC 606 primarily related to contracts accounted for as leases of $9 million, $7 million and $10 million for the years ended December 31, 2024, 2023 and 2022, respectively.
Summary of Contact Liability Activity	The following is a summary of contract liability activity: 2024 2023 (millions) Balance as of January 1 $ 129 $ 32 Increases due to cash received or receivable, excluding amounts recognized as revenue during the period (a) 47 101 Revenue recognized that was included in the balance at the beginning of the period (23) (4) Balance as of December 31 $ 153 $ 129 __________________________________
Revenue Expected to be Recognized in Future Periods	The following table presents contract liability amounts as of December 31, 2024 that are expected to be recognized as revenue in future periods: (millions) 2025 $ 18 2026 18 2027 18 2028 16 2029 16 2030 and thereafter 67 Total $ 153 The following table presents revenue amounts related to fixed consideration associated with unsatisfied performance obligations as of December 31, 2024 that are expected to be recognized as revenue in future periods: (millions) 2025 $ 265 2026 223 2027 226 2028 181 2029 149 2030 and thereafter 268 Total $ 1,312
Schedule of Customers which Represents 10% or More of Total Revenues	The following table summarizes the customer which represents 10% or more of our total revenue for the years ended December 31, 2024, 2023 and 2022. Both Pipeline and Gathering segments provided services to this customer. 2024 2023 2022 Customer Percentage Customer Percentage Customer Percentage Revenue of Total Revenue of Total Revenue of Total Customer: (millions, except percentages) Expand Energy $ 555 56 % $ 560 60 % $ 596 65 %

GOODWILL (Tables)

GOODWILL (Tables)	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following is the summary of the change in the carrying amount of goodwill: 2024 2023 (millions) Balance at January 1 $ 473 $ 473 Goodwill attributable to the Midwest Pipeline Acquisition 303 — Balance at December 31 $ 776 $ 473 The following is a summary of the carrying value of goodwill by reporting unit: December 31, 2024 2023 (millions) Pipeline $ 356 $ 53 Gathering 420 420 Total goodwill $ 776 $ 473

PROPERTY, PLANT, AND EQUIPMEN_2

PROPERTY, PLANT, AND EQUIPMENT AND INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	The following is a summary of Property, plant, and equipment by classification: Average Estimated Useful Life December 31, 2024 2023 (years) (millions) Property, plant, and equipment Land and other non-depreciable assets N/A $ 105 $ 96 Rights of way and easements 25 to 53 168 103 Pipelines and interconnects 10 to 95 4,437 3,460 Facilities and processing plants 7 to 50 1,364 1,234 Wells and well equipment 40 to 70 70 70 General plant 3 to 40 60 40 Construction in progress N/A 321 279 Total Property, plant, and equipment $ 6,525 $ 5,282 Less accumulated depreciation (998) (848) Net Property, plant, and equipment $ 5,527 $ 4,434
Schedule of Intangible Assets	The following is a summary of Intangible Assets by classification: December 31, 2024 December 31, 2023 Useful Lives Gross Carrying Value Accumulated Amortization Net Carrying Value Gross Carrying Value Accumulated Amortization Net Carrying Value (millions) Intangible assets subject to amortization Customer relationships 3 - 40 years (a) $ 2,262 $ (345) $ 1,917 $ 2,252 $ (289) $ 1,963 Contract intangibles 14 - 26 years 18 (14) 4 18 (13) 5 Total $ 2,280 $ (359) $ 1,921 $ 2,270 $ (302) $ 1,968 _____________________________________
Schedule of Estimated Intangibles Assets Amortization Expense	The following table summarizes estimated customer relationships and contract intangibles amortization expense to be recognized during each year through 2029: 2025 2026 2027 2028 2029 (millions) Estimated amortization expense $ 60 $ 60 $ 60 $ 59 $ 59
Schedule of Depreciation and Amortization	The following is a summary of depreciation and amortization expense by asset type: Year Ended December 31, 2024 2023 2022 (millions) Property, plant, and equipment $ 152 $ 125 $ 113 Customer relationships and other intangible assets, net 57 57 57 Total Depreciation and amortization $ 209 $ 182 $ 170

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation	Our total Income Tax Expense varied from the statutory federal income tax rate for the following reasons: Year Ended December 31, 2024 2023 2022 (millions) Income Before Income Taxes $ 504 $ 500 $ 482 Income tax expense at statutory rate 106 105 101 State and local income taxes, net of federal benefit 18 18 24 State tax rate changes 15 (18) (25) Other, net (2) (1) — Income Tax Expense $ 137 $ 104 $ 100 Effective income tax rate 27.3 % 20.9 % 20.7 %
Schedule of Income Tax Expense	Components of Income tax expense were as follows: Year Ended December 31, 2024 2023 2022 (millions) Current income tax expense Federal $ 13 $ (4) $ 16 State and other income tax 4 (2) 14 Total current income tax expense 17 (6) 30 Deferred income tax expense Federal 84 109 86 State and other income tax 36 1 (16) Total deferred income tax expense 120 110 70 Total Income Tax Expense $ 137 $ 104 $ 100
Schedule of Deferred Tax Assets (Liabilities)	Deferred tax assets (liabilities) were comprised of the following: December 31, 2024 2023 (millions) Deferred income tax balance components Property, plant, and equipment $ (369) $ (369) Federal net operating loss carry-forward 117 184 State and local net operating loss carry-forward, net of federal 75 102 Investment in equity method investees and partnerships (970) (979) Other 18 31 Net deferred income tax asset / (liability) $ (1,129) $ (1,031) Total deferred income tax assets and liabilities Deferred income tax assets $ 266 $ 319 Deferred income tax liabilities (1,395) (1,350) Net deferred income tax asset / (liability) $ (1,129) $ (1,031)

EARNINGS PER SHARE AND DIVIDE_2

EARNINGS PER SHARE AND DIVIDENDS (Tables)	12 Months Ended
	Dec. 31, 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: Year Ended December 31, 2024 2023 2022 (millions, except per share amounts) Basic and Diluted Earnings per Common Share Net Income Attributable to DT Midstream $ 354 $ 384 $ 370 Average number of common shares outstanding — basic 97.6 96.9 96.7 Incremental shares attributable to: Average dilutive restricted stock units and performance share awards 0.8 0.6 0.5 Average number of common shares outstanding — diluted 98.4 97.5 97.2 Basic Earnings per Common Share $ 3.63 $ 3.97 $ 3.83 Diluted Earnings per Common Share $ 3.60 $ 3.94 $ 3.81
Schedule of Cash Dividends Declared	We declared the following cash dividends: Dividends Declared Dividend Amount Dividend Payment Date (quarter ended) (per-share) (millions) 2022 March 31 $ 0.64 $ 62 April 2022 June 30 $ 0.64 $ 62 July 2022 September 30 $ 0.64 $ 62 October 2022 December 31 $ 0.64 $ 62 January 2023 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 December 31 $ 0.735 $ 75 January 2025

FAIR VALUE (Tables)

FAIR VALUE (Tables)	12 Months Ended
	Dec. 31, 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: December 31, 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) $ — $ — $ — $ — $ 36 $ — $ 36 $ — Long-term notes receivable — related party 4 — — 4 4 — — 4 Short-term borrowings (a) 150 — 150 — 165 — 165 — Long-term debt (b) $ 3,319 $ — $ 3,136 $ — $ 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 December 31, 2024 and 2023 represents principal of $3.4 billion and $3.1 billion, respectively, net of unamortized debt discounts and issuance costs.

DEBT (Tables)

DEBT (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Schedule of Interest Income and Interest Expense	The following table summarizes our interest expense: Year Ended December 31, 2024 2023 2022 (millions) Interest expense $ 163 $ 170 $ 142 Capitalized interest (10) (20) (5) Total interest expense, net $ 153 $ 150 $ 137
Schedule of Long-term Debt Outstanding	The following is a summary of long-term debt: Maturity December 31, 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 2034 Notes Senior Secured Notes (a) 5.800% 2034 650 — Term Loan Facility Term Loan Facility Variable 2028 — 399 Long-term debt principal 3,350 3,099 Unamortized debt discount (1) (2) Unamortized debt issuance costs (30) (32) Long-term debt, net $ 3,319 $ 3,065 ______________________________ (a) Interest payable semi-annually in arrears each June 15 and December 15. The first interest payment due on the 2034 Notes is June 15, 2025. (b) Interest payable semi-annually in arrears each April 15 and October 15.
Schedule of Debt Maturities	The following table presents scheduled debt maturities, excluding any unamortized discount on debt: 2025 2026 2027 2028 2029 and Thereafter Total (millions) Debt maturities $ — — — — 3,350 $ 3,350
Schedule of Availability Under the Revolving Credit Facility	The following table presents the availability under the Revolving Credit Facility: December 31, 2024 (millions) Total availability Revolving Credit Facility, expiring December 2029 $ 1,000 Amounts outstanding Revolving Credit Facility borrowings (a) 150 Letters of credit 16 166 Net availability $ 834 ______________________________ (a) The weighted average interest rate for Revolving Credit Facility borrowings outstanding was 4.34% as of December 31, 2024.

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Schedule of Components of Lease Cost and Other Relevant Information Related to Leases	The components of lease cost for the following years includes: Year Ended December 31, 2024 2023 2022 (millions) Operating lease cost $ 21 $ 20 $ 20 Short-term lease cost 3 3 3 $ 24 $ 23 $ 23 Other relevant information related to leases for the following years includes: Year Ended December 31, 2024 2023 2022 Supplemental Cash Flows Information (millions, except years and percentages) Cash paid for amounts included in the measurement of these liabilities: Operating cash flows for operating leases $ 21 $ 21 $ 18 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 29 $ 25 $ 14 Weighted Average Remaining Lease Term Operating leases 3.9 years 4.4 years 4.0 years Weighted Average Discount Rate Operating leases 5.3 % 4.8 % 3.5 %
Schedule of Future Minimum Lease Payments Under Leases	Future minimum lease payments under leases for remaining periods as of December 31, 2024 are as follows: Operating Leases (millions) 2025 $ 17 2026 15 2027 14 2028 6 2029 2 2030 and thereafter 3 Total future minimum lease payments 57 Imputed interest (5) Lease liabilities $ 52
Schedule of Future Minimum Rental Revenues	Future minimum rental revenues for remaining periods as of December 31, 2024 are as follows: Operating Lease (millions) 2025 $ 77 2026 62 2027 9 2028 9 2029 9 2030 and thereafter 79 Total future minimum rental revenues $ 245
Schedule of Property Under Operating Leases	Property under the operating lease is as follows: December 31, 2024 2023 (millions) Gross property under operating leases $ 484 $ 58 Accumulated amortization of property under operating leases $ 17 $ 15

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Purchase Commitments	We estimate lifetime purchase commitments of approximately $95 million, due in the periods shown below. (millions) 2025 $ 14 2026 13 2027 12 2028 12 2029 12 2030 and thereafter 32 Total $ 95

STOCK-BASED COMPENSATION AND _2

STOCK-BASED COMPENSATION AND DEFINED CONTRIBUTION PLANS (Tables)	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Summary of Stock-based Compensation Expense	The following table summarizes our stock-based compensation expense and the related income tax benefit: Year Ended December 31, 2024 2023 2022 (millions) Stock-based compensation expense $ 23 $ 20 $ 17 Tax benefit $ 5 $ 5 $ 4
Summary of Restricted Stock Unit Activity	The following table summarizes restricted stock unit activity for the year ended December 31, 2024: Restricted Weighted- Average (thousands) (per share) Nonvested as of December 31, 2023 417 $ 45.82 Granted (a) 152 60.37 Forfeited (4) 49.35 Vested (b) (104) 42.40 Nonvested as of December 31, 2024 461 $ 51.37 ____________________________________ (a) Includes initial grants and dividends reinvested. (b) Includes vested, not issued shares of two thousand at December 31, 2024. Shares will be issued in first quarter 2025.
Summary of Performance Shares Activity	The following table summarizes performance share award activity for the year ended December 31, 2024: Performance Share Awards Weighted- Average (thousands) (per share) Nonvested as of December 31, 2023 557 $ 64.36 Granted (a) 372 55.32 Forfeited (29) 59.66 Settled (199) 48.12 Nonvested as of December 31, 2024 701 $ 64.38 _____________________________________ (a) Includes initial grants, dividends reinvested and shares added for achievement of final performance objectives on settled awards.

SEGMENT AND RELATED INFORMATI_2

SEGMENT AND RELATED INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Schedule of Inter-segment Billing and Financial Data by Business Segment	Financial data for our business segments follows: Year Ended December 31, 2024 Pipeline Gathering Total Reportable Segments Eliminations Total Consolidated (millions) Revenues Operating revenues $ 443 $ 538 $ 981 $ — $ 981 Operating Expenses Operation and maintenance 68 176 244 — 244 Depreciation and amortization 74 135 209 — 209 Taxes other than income 22 17 39 — 39 Other (Income) and Deductions Interest expense 47 106 153 — 153 Interest income (4) (3) (7) — (7) Earnings from equity method investees (162) — (162) — (162) Loss from financing activities 3 2 5 — 5 Other income (1) (3) (4) — (4) Income Tax Expense 107 30 137 — 137 Less: Net Income Attributable to Noncontrolling Interests 13 — 13 — 13 Net Income Attributable to DT Midstream $ 276 $ 78 $ 354 $ — $ 354 Capital expenditures $ 73 $ 277 $ 350 $ — $ 350 Acquisition accounted for as a business combination $ 1,198 $ — $ 1,198 $ — $ 1,198 December 31, 2024 Investments in equity method investees $ 1,297 $ — $ 1,297 $ — $ 1,297 Goodwill 356 420 776 — 776 Total Assets $ 5,274 $ 4,661 $ 9,935 $ — $ 9,935 Year Ended December 31, 2023 Pipeline Gathering Total Reportable Segments Eliminations Total Consolidated (millions) Revenues Operating revenues $ 377 $ 545 $ 922 $ — $ 922 Operating Expenses Operation and maintenance 55 190 245 — 245 Depreciation and amortization 69 113 182 — 182 Taxes other than income 15 13 28 — 28 Asset (gains) losses and impairments, net (4) — (4) — (4) Other (Income) and Deductions Interest expense 55 95 150 — 150 Interest income (1) — (1) — (1) Earnings from equity method investees (177) — (177) — (177) Other income — (1) (1) — (1) Income Tax Expense 75 29 104 — 104 Less: Net Income Attributable to Noncontrolling Interests 12 — 12 — 12 Net Income Attributable to DT Midstream $ 278 $ 106 $ 384 $ — $ 384 Capital expenditures $ 255 $ 517 $ 772 $ — $ 772 December 31, 2023 Investments in equity method investees $ 1,762 $ — $ 1,762 $ — $ 1,762 Goodwill 53 420 473 — 473 Total Assets $ 4,439 $ 4,543 $ 8,982 $ — $ 8,982 Year Ended December 31, 2022 Pipeline Gathering Total Reportable Segments Eliminations Total Consolidated (millions) Revenues Operating revenues $ 339 $ 581 $ 920 $ — $ 920 Operating Expenses Operation and maintenance 54 213 267 — 267 Depreciation and amortization 63 107 170 — 170 Taxes other than income 14 14 28 — 28 Asset (gains) losses and impairments, net (6) (17) (23) — (23) Other (Income) and Deductions Interest expense 57 80 137 — 137 Interest income (1) (2) (3) — (3) Earnings from equity method investees (150) — (150) — (150) Loss from financing activities 6 7 13 — 13 Other income — (1) (1) — (1) Income Tax Expense 62 38 100 — 100 Less: Net Income Attributable to Noncontrolling Interests 12 — 12 — 12 Net Income Attributable to DT Midstream $ 228 $ 142 $ 370 $ — $ 370 Capital expenditures and acquisitions $ 638 $ 252 $ 890 $ — $ 890 December 31, 2022 Investments in equity method investees $ 2,200 $ — $ 2,200 $ — $ 2,200 Goodwill 53 420 473 — 473 Total Assets $ 4,625 $ 4,208 $ 8,833 $ — $ 8,833

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2024
Related Party Transactions [Abstract]
Schedule of Transactions with Related Parties	The following is a summary of our balances with related parties: December 31, 2024 2023 (millions) Notes receivable from Vector — long-term $ 4 $ 4 Current Liabilities — Other $ 1 $ 1

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Components of Preliminary Purchase Price Allocation	The components of the preliminary purchase price allocation are as follows: December 31, 2024 (millions) Assets Accounts receivable $ 29 Other current assets 10 Property, plant, and equipment, net 933 Goodwill 303 Customer relationship intangible assets 11 Regulatory assets 10 Other assets 22 $ 1,318 Liabilities Accounts payable $ 12 Property taxes payable 5 Other current liabilities 3 Regulatory liabilities 90 Other liabilities 10 $ 120 Total cash consideration $ 1,198
Schedule of Pro Forma Information	The following unaudited pro forma summary presents our consolidated information as if the acquisition had occurred on January 1, 2023 using our records and seller provided information. The unaudited pro forma financial information does not purport to be indicative of the combined results of operations which would have actually been obtained had the acquisition taken place on January 1, 2023, nor should it be taken as indicative of future consolidated results of operations. The pro forma earnings for the years ended December 31, 2024 and 2023 were adjusted to include net interest expense, after tax, of $11 million and $23 million, respectively, related to the 2034 Senior Notes issued to fund the acquisition offset by the elimination of interest expense on debt held by the acquired pipelines, which was paid off at the acquisition date. Income tax expense of $22 million related to the remeasurement of state deferred income taxes as a result of the acquisition were excluded from the year ended December 31, 2024 and included in the year ended December 31, 2023. Transaction costs, after tax, of $7 million, which includes Bridge Financing fees and legal and professional expenses, were excluded from the year ended December 31, 2024 and included in the year ended December 31, 2023. Other adjustments, after tax, of $1 million and $4 million were included for the years ended December 31, 2024 and 2023, respectively. Pro forma (Unaudited) Years Ended December 31, 2024 2023 (in millions) Revenue $ 1,182 $ 1,091 Net Income attributable to DT Midstream $ 430 $ 377

REGULATORY MATTERS (Tables)

REGULATORY MATTERS (Tables)	12 Months Ended
	Dec. 31, 2024
Regulated Operations [Abstract]
Schedule of Regulatory Assets	The following includes balances and descriptions of our regulatory assets and liabilities. December 31, 2024 (millions) Regulatory Assets Recoverable income taxes related to AFUDC equity $ 7 Load Management Services Cost Recovery Mechanism 2 Other regulatory assets 1 $ 10 Regulatory Liabilities Refundable federal income taxes $ 79 Removal costs liability 11 $ 90
Schedule of Regulatory Liabilities	The following includes balances and descriptions of our regulatory assets and liabilities. December 31, 2024 (millions) Regulatory Assets Recoverable income taxes related to AFUDC equity $ 7 Load Management Services Cost Recovery Mechanism 2 Other regulatory assets 1 $ 10 Regulatory Liabilities Refundable federal income taxes $ 79 Removal costs liability 11 $ 90

DESCRIPTION OF THE BUSINESS A_3

DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION - Narrative (Details) $ in Millions	1 Months Ended			12 Months Ended
	Sep. 30, 2024 USD ($)	May 31, 2023 USD ($)	Oct. 31, 2022 USD ($)	Dec. 31, 2024 USD ($) segment pipeline	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
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				$ 336	$ 352
Distributions from equity method investees				472	427	$ 17
Payments to acquire equity method investments				$ 5	$ 7	$ 5
Millennium
Related Party Transaction [Line Items]
Amount by which the carrying amounts of equity method investments exceeds share of underlying equity in the net assets			$ 343
Distributions from equity method investees	$ 416
Payments to acquire equity method investments			$ 552
Additional ownership interest acquired			0.2625
Ownership percentage			52.50%	52.50%	52.50%
NEXUS
Related Party Transaction [Line Items]
Distributions from equity method investees		$ 371
Ownership percentage				50%	50%
Senior Notes | Millennium Senior Unsecured Notes | Millennium
Related Party Transaction [Line Items]
Amount of debt sold	$ 800
Weighted-average coupon rate	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%
Midwest Pipeline Acquisition
Related Party Transaction [Line Items]
Number of pipelines acquired | pipeline				3

DESCRIPTION OF THE BUSINESS A_4

DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION - Consolidated VIEs (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
ASSETS
Cash	$ 68	$ 56
Accounts receivable	172	154
Intangible assets, net	1,921	1,968
Property, plant and equipment, net	5,527	4,434
Goodwill	776	473	$ 473
Total Assets	9,935	8,982	$ 8,833
LIABILITIES
Other noncurrent liabilities	1,424	1,203
Total Liabilities	5,169	4,702
Variable interest entity, primary beneficiary
ASSETS
Cash	17	13
Accounts receivable	11	10
Other current assets	2	2
Intangible assets, net	468	483
Property, plant and equipment, net	391	391
Goodwill	25	25
Total Assets	914	924
LIABILITIES
Accounts payable and other current liabilities	5	4
Other noncurrent liabilities	3	3
Total Liabilities	$ 8	$ 7

DESCRIPTION OF THE BUSINESS A_5

DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION - Earnings from Equity Method Investees (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Earnings from equity method investees	$ 162	$ 177	$ 150
NEXUS
Schedule of Equity Method Investments [Line Items]
Earnings from equity method investees	62	68	61
Vector
Schedule of Equity Method Investments [Line Items]
Earnings from equity method investees	41	38	36
Millennium
Schedule of Equity Method Investments [Line Items]
Earnings from equity method investees	$ 59	$ 71	$ 53

DESCRIPTION OF THE BUSINESS A_6

DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION - Equity Method Investees (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Oct. 31, 2022
Schedule of Equity Method Investments [Line Items]
Investments As of	$ 1,297	$ 1,762	$ 2,200
NEXUS
Schedule of Equity Method Investments [Line Items]
Investments As of	$ 880	$ 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	$ 283	$ 727
% Owned As of	52.50%	52.50%		52.50%

DESCRIPTION OF THE BUSINESS A_7

DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION - Summarized Balance Sheet Data (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Schedule of Equity Method Investments [Line Items]
Current assets	$ 310	$ 272
Current liabilities	426	434
Equity method investment, non-consolidated investees
Schedule of Equity Method Investments [Line Items]
Current assets	170	159
Non-current assets	3,939	4,057
Current liabilities	209	208
Non-current liabilities	$ 1,930	$ 1,177

DESCRIPTION OF THE BUSINESS A_8

DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION - Summarized Income Statement Data (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Operating revenues	$ 981	$ 922	$ 920
Net Income	367	396	382
Equity method investment, non-consolidated investees
Schedule of Equity Method Investments [Line Items]
Operating revenues	818	823	800
Operating expenses	376	377	396
Net Income	$ 364	$ 392	$ 372

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details)	3 Months Ended	12 Months Ended
	Jun. 30, 2022 USD ($)	Dec. 31, 2024 USD ($) internal_grade	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Financing Receivable, Past Due [Line Items]
Number of internal grades of credit quality | internal_grade		3
Proceeds from sale of notes receivable		$ 0	$ 0	$ 22,000,000
Asset (gains) losses and impairments, net		$ 0	4,000,000	23,000,000
Specific review of probable future collections based on receivable balances, threshold duration		30 days
Uncollectible expense (recovery)		$ 0	0	$ 0
Allowance for expected credit loss related to accounts receivable		0	$ 0
Past due
Financing Receivable, Past Due [Line Items]
Financing receivables		0
Notes receivable
Financing Receivable, Past Due [Line Items]
Financing receivables on nonaccrual status		$ 0
Proceeds from sale of notes receivable	$ 22,000,000
Asset (gains) losses and impairments, net	$ 17,000,000
Notes receivable | Minimum
Financing Receivable, Past Due [Line Items]
Period past due		60 days
Notes receivable | Maximum
Financing Receivable, Past Due [Line Items]
Period past due		120 days
Notes receivable | Internal grade 1 | Related Party
Financing Receivable, Past Due [Line Items]
Notes receivable, originated prior to 2021		$ 4,000,000

REVENUE - Disaggregation of Rev

REVENUE - Disaggregation of Revenue (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Total operating revenues	$ 981	$ 922	$ 920
Revenue outside scope of ASC 606	9	7	10
Pipeline
Disaggregation of Revenue [Line Items]
Total operating revenues	443	377	339
Revenue outside scope of ASC 606	9	7	10
Gathering
Disaggregation of Revenue [Line Items]
Total operating revenues	$ 538	$ 545	$ 581

REVENUE - Narrative (Details)

REVENUE - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Recovery of production-related operating expenses	$ 51	$ 53	$ 65
Capitalized costs to obtain or fulfill contracts	18	18
Amortization expense related to capitalized costs	$ 1	$ 1	$ 1

REVENUE - Contract Liabilities

REVENUE - Contract Liabilities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Change In Contract With Customer, Liability [Roll Forward]
Beginning balance	$ 129	$ 32
Increases due to cash received or receivable, excluding amounts recognized as revenue during the period	47	101
Revenue recognized that was included in the balance at the beginning of the period	(23)	(4)
Ending balance	$ 153	$ 129

REVENUE - Expected Recognition

REVENUE - Expected Recognition of Contract Liabilities and Performance Obligations (Details) $ in Millions	Dec. 31, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 153
Fixed-price Contract
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	1,312
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	$ 18
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	$ 265
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	$ 18
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	$ 223
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	$ 18
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	$ 226
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	$ 16
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	$ 181
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	$ 16
Remaining performance obligation, expected timing of satisfaction	1 year
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	$ 149
Remaining performance obligation, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2030-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 67
Remaining performance obligation, expected timing of satisfaction
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2030-01-01 | Fixed-price Contract
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 268
Remaining performance obligation, expected timing of satisfaction

REVENUE - Revenue by Major Cust

REVENUE - Revenue by Major Customers (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenue, Major Customer [Line Items]
Operating revenues	$ 981	$ 922	$ 920
Revenue | Customer | Expand Energy
Revenue, Major Customer [Line Items]
Operating revenues	$ 555	$ 560	$ 596
Percentage of total	56%	60%	65%

GOODWILL (Details)

GOODWILL (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 473	$ 473
Goodwill attributable to the Midwest Pipeline Acquisition	303	0
Goodwill, ending balance	776	473
Pipeline
Goodwill [Roll Forward]
Goodwill, beginning balance	53
Goodwill, ending balance	356	53
Gathering
Goodwill [Roll Forward]
Goodwill, beginning balance	420
Goodwill, ending balance	$ 420	$ 420

PROPERTY, PLANT, AND EQUIPMEN_3

PROPERTY, PLANT, AND EQUIPMENT AND INTANGIBLE ASSETS - Summary of Property, Plant and Equipment by Classification (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property, plant, and equipment	$ 6,525	$ 5,282
Accumulated depreciation	(998)	(848)
Net Property, plant, and equipment	5,527	4,434
Land and other non-depreciable assets
Property, Plant and Equipment [Line Items]
Property, plant, and equipment	105	96
Rights of way and easements
Property, Plant and Equipment [Line Items]
Property, plant, and equipment	$ 168	103
Rights of way and easements | Minimum
Property, Plant and Equipment [Line Items]
Average Estimated Useful Life	25 years
Rights of way and easements | Maximum
Property, Plant and Equipment [Line Items]
Average Estimated Useful Life	53 years
Pipelines and interconnects
Property, Plant and Equipment [Line Items]
Property, plant, and equipment	$ 4,437	3,460
Pipelines and interconnects | Minimum
Property, Plant and Equipment [Line Items]
Average Estimated Useful Life	10 years
Pipelines and interconnects | Maximum
Property, Plant and Equipment [Line Items]
Average Estimated Useful Life	95 years
Facilities and processing plants
Property, Plant and Equipment [Line Items]
Property, plant, and equipment	$ 1,364	1,234
Facilities and processing plants | Minimum
Property, Plant and Equipment [Line Items]
Average Estimated Useful Life	7 years
Facilities and processing plants | Maximum
Property, Plant and Equipment [Line Items]
Average Estimated Useful Life	50 years
Wells and well equipment
Property, Plant and Equipment [Line Items]
Property, plant, and equipment	$ 70	70
Wells and well equipment | Minimum
Property, Plant and Equipment [Line Items]
Average Estimated Useful Life	40 years
Wells and well equipment | Maximum
Property, Plant and Equipment [Line Items]
Average Estimated Useful Life	70 years
General plant
Property, Plant and Equipment [Line Items]
Property, plant, and equipment	$ 60	40
General plant | Minimum
Property, Plant and Equipment [Line Items]
Average Estimated Useful Life	3 years
General plant | Maximum
Property, Plant and Equipment [Line Items]
Average Estimated Useful Life	40 years
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant, and equipment	$ 321	$ 279

PROPERTY, PLANT, AND EQUIPMEN_4

PROPERTY, PLANT, AND EQUIPMENT AND INTANGIBLE ASSETS - Summary of Intangible Assets (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 2,280	$ 2,270
Accumulated Amortization	(359)	(302)
Net Carrying Value	1,921	1,968
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	2,262	2,252
Accumulated Amortization	(345)	(289)
Net Carrying Value	$ 1,917	1,963
Customer relationships | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Lives	3 years
Customer relationships | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Lives	40 years
Contract intangibles
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 18	18
Accumulated Amortization	(14)	(13)
Net Carrying Value	$ 4	$ 5
Contract intangibles | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Lives	14 years
Contract intangibles | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Lives	26 years

PROPERTY, PLANT, AND EQUIPMEN_5

PROPERTY, PLANT, AND EQUIPMENT AND INTANGIBLE ASSETS - Estimated Intangibles Amortization Expense (Details) $ in Millions	Dec. 31, 2024 USD ($)
Property, Plant and Equipment [Abstract]
2025	$ 60
2026	60
2027	60
2028	59
2029	$ 59

PROPERTY, PLANT, AND EQUIPMEN_6

PROPERTY, PLANT, AND EQUIPMENT AND INTANGIBLE ASSETS - Depreciation and Amortization Expense by Asset Type (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Property, plant, and equipment	$ 152	$ 125	$ 113
Customer relationships and other intangible assets, net	57	57	57
Depreciation and amortization	$ 209	$ 182	$ 170

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($)		12 Months Ended
	Dec. 04, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Examination [Line Items]
Deferred income taxes		$ 1,129,000,000	$ 1,031,000,000
Deferred income tax benefit		(120,000,000)	(110,000,000)	$ (70,000,000)
State tax rate changes		15,000,000	(18,000,000)	$ (25,000,000)
Deferred tax asset related to federal net operating loss carry-forwards		117,000,000	184,000,000
State and local deferred tax assets related to net operating loss carry-forwards		75,000,000	102,000,000
Unrecognized tax benefits		0	$ 0
State and Local Jurisdiction
Income Tax Examination [Line Items]
Net operating loss carryforward, not subject to expiration		70,000,000
Net operating loss carryforward, subject to expiration		5,000,000
Louisiana Department of Revenue
Income Tax Examination [Line Items]
Deferred income tax benefit	$ 4,000,000
Midwest Pipeline Acquisition
Income Tax Examination [Line Items]
Deferred income taxes		$ 22,000,000

INCOME TAXES - Effective Income

INCOME TAXES - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income Before Income Taxes	$ 504	$ 500	$ 482
Income tax expense at statutory rate	106	105	101
State and local income taxes, net of federal benefit	18	18	24
State tax rate changes	15	(18)	(25)
Other, net	(2)	(1)	0
Income Tax Expense	$ 137	$ 104	$ 100
Effective income tax rate	27.30%	20.90%	20.70%

INCOME TAXES - Components of In

INCOME TAXES - Components of Income Tax Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current income tax expense
Federal	$ 13	$ (4)	$ 16
State and other income tax	4	(2)	14
Total current income tax expense	17	(6)	30
Deferred income tax expense
Federal	84	109	86
State and other income tax	36	1	(16)
Total deferred income tax expense	120	110	70
Income Tax Expense	$ 137	$ 104	$ 100

INCOME TAXES - Components of De

INCOME TAXES - Components of Deferred Tax Assets (Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Deferred income tax balance components
Property, plant, and equipment	$ (369)	$ (369)
Federal net operating loss carry-forward	117	184
State and local net operating loss carry-forward, net of federal	75	102
Investment in equity method investees and partnerships	(970)	(979)
Other	18	31
Net deferred income tax asset / (liability)	(1,129)	(1,031)
Total deferred income tax assets and liabilities
Deferred income tax assets	266	319
Deferred income tax liabilities	(1,395)	(1,350)
Net deferred income tax asset / (liability)	$ (1,129)	$ (1,031)

EARNINGS PER SHARE AND DIVIDE_3

EARNINGS PER SHARE AND DIVIDENDS - Narrative (Details) - Public Stock Offering $ / shares in Units, $ in Millions	1 Months Ended
	Nov. 30, 2024 USD ($) $ / shares shares
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Number of shares issued (in shares) | shares	4,168,750
Price per share of shares issued (in dollars per share) | $ / shares	$ 101
Net proceeds from shares issued | $	$ 406

EARNINGS PER SHARE AND DIVIDE_4

EARNINGS PER SHARE AND DIVIDENDS - Reconciliation of Basic and Diluted Earnings Per Share Calculation (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Basic and Diluted Earnings per Common Share
Net Income Attributable to DT Midstream	$ 354	$ 384	$ 370
Average number of common shares outstanding — basic (in shares)	97.6	96.9	96.7
Incremental shares attributable to:
Average dilutive restricted stock units and performance share awards (in shares)	0.8	0.6	0.5
Average number of common shares outstanding — diluted (in shares)	98.4	97.5	97.2
Basic earnings per Common Share (in dollars per share)	$ 3.63	$ 3.97	$ 3.83
Diluted earnings per Common Share (in dollars per share)	$ 3.60	$ 3.94	$ 3.81

EARNINGS PER SHARE AND DIVIDE_5

EARNINGS PER SHARE AND DIVIDENDS - Dividends Declared (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended												12 Months Ended
	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share [Abstract]
Dividend Amount (in dollars per share)	$ 0.735	$ 0.735	$ 0.735	$ 0.735	$ 0.69	$ 0.69	$ 0.69	$ 0.69	$ 0.64	$ 0.64	$ 0.64	$ 0.64	$ 2.94	$ 2.76	$ 2.56
Dividend Amount	$ 75	$ 71	$ 71	$ 71	$ 67	$ 67	$ 67	$ 67	$ 62	$ 62	$ 62	$ 62

FAIR VALUE (Details)

FAIR VALUE (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt principal	$ 3,350	$ 3,099
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	0	36
Short-term borrowings	150	165
Long-term debt	3,319	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	0	36
Short-term borrowings	150	165
Long-term debt	3,136	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			12 Months Ended
	Nov. 30, 2024 USD ($)	Sep. 30, 2024 USD ($)	Oct. 31, 2022 USD ($)	Apr. 30, 2022 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Line of Credit Facility [Line Items]
Debt issuance costs					$ 30,000,000	$ 32,000,000
Repayment of long-term debt					399,000,000	0	$ 596,000,000
Loss on extinguishment of debt					5,000,000	0	13,000,000
Issuance of long-term debt, net of discount and issuance costs					$ 644,000,000	0	$ 591,000,000
Maximum consolidated net leverage ratio					3.25
Term Loan Facility
Line of Credit Facility [Line Items]
Repayment of long-term debt		$ 399,000,000		$ 593,000,000
Loss on extinguishment of debt		4,000,000		9,000,000
Prepayment cost		$ 0		0
Write-off of unamortized discount and issuance costs				4,000,000
Revolving Credit Facility | Revolving Credit Facility, expiring December 2029
Line of Credit Facility [Line Items]
Maximum borrowing capacity			$ 1,000,000,000		$ 1,000,000,000
Increase in commitments			$ 250,000,000
Amendment costs capitalized					3,000,000
Debt related to issuance and amendment costs, net of amortization					$ 7,000,000	$ 6,000,000
Maximum consolidated net leverage ratio					5
Temporary step up maximum consolidated net leverage ratio					5.5
Consideration value related to consummation or acquisition or investment required to temporarily step up maximum consolidated net leverage ratio					$ 50,000,000
Minimum interest coverage ratio					2.5
Consolidated net leverage ratio					2.3
Interest coverage ratio					9.3
Line of Credit | Bridge Loan | 364-Day Bridge Loan Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 700,000,000
Debt instrument, term	364 days
Debt issuance costs					$ 4,000,000
Senior Notes
Line of Credit Facility [Line Items]
Dividend capacity remaining					$ 537,000,000
Senior Notes | 2034 Notes
Line of Credit Facility [Line Items]
Debt issuance costs	$ 5,000,000
Long-term debt issued	$ 650,000,000
Interest Rate	5.80%				5.80%
Debt discount costs	$ 1,000,000
Senior Notes | 2032 Notes
Line of Credit Facility [Line Items]
Long-term debt issued				$ 600,000,000
Interest Rate				4.30%	4.30%
Issuance of long-term debt, net of discount and issuance costs				$ 593,000,000

DEBT - Interest Expense (Detail

DEBT - Interest Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
Interest expense	$ 163	$ 170	$ 142
Capitalized interest	(10)	(20)	(5)
Total interest expense, net	$ 153	$ 150	$ 137

DEBT - Long-term Debt Outstandi

DEBT - Long-term Debt Outstanding (Details) - USD ($) $ in Millions	Dec. 31, 2024	Nov. 30, 2024	Dec. 31, 2023	Apr. 30, 2022
Debt Instrument [Line Items]
Long-term debt principal	$ 3,350		$ 3,099
Unamortized debt discount	(1)		(2)
Unamortized debt issuance costs	(30)		(32)
Long-term debt, net	3,319		3,065
Term Loan Facility
Debt Instrument [Line Items]
Long-term debt principal	$ 0		399
Senior Notes | 2029 Notes
Debt Instrument [Line Items]
Interest Rate	4.125%
Long-term debt principal	$ 1,100		1,100
Senior Notes | 2031 Notes
Debt Instrument [Line Items]
Interest Rate	4.375%
Long-term debt principal	$ 1,000		1,000
Senior Notes | 2032 Notes
Debt Instrument [Line Items]
Interest Rate	4.30%			4.30%
Long-term debt principal	$ 600		600
Senior Notes | 2034 Notes
Debt Instrument [Line Items]
Interest Rate	5.80%	5.80%
Long-term debt principal	$ 650		$ 0
Unamortized debt issuance costs		$ (5)

DEBT - Debt Maturities (Details

DEBT - Debt Maturities (Details) $ in Millions	Dec. 31, 2024 USD ($)
Debt Disclosure [Abstract]
2025	$ 0
2026	0
2027	0
2028	0
2029 and Thereafter	3,350
Total	$ 3,350

DEBT - Availability Under the R

DEBT - Availability Under the Revolving Credit Facility (Details) - Revolving Credit Facility, expiring December 2029 - USD ($) $ in Millions	Dec. 31, 2024	Oct. 31, 2022
Line of Credit Facility [Line Items]
Amounts outstanding	$ 166
Net availability	834
Revolving Credit Facility
Line of Credit Facility [Line Items]
Total availability	1,000	$ 1,000
Amounts outstanding	$ 150
Weighted average interest rate	4.34%
Letters of credit
Line of Credit Facility [Line Items]
Amounts outstanding	$ 16

LEASES - Narrative (Details)

LEASES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Lessor, operating lease term	14 years
Fixed lease income	$ 9	$ 7	$ 10
Depreciation expense associated with property under operating lease	$ 3	$ 3	$ 3
Minimum
Lessee, Lease, Description [Line Items]
Lessee, operating lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lessee, operating lease term	11 years

LEASES - Components of Lease Co

LEASES - Components of Lease Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease cost	$ 21	$ 20	$ 20
Short-term lease cost	3	3	3
Lease cost	$ 24	$ 23	$ 23

LEASES - Other Relevant Informa

LEASES - Other Relevant Information Related to Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash paid for amounts included in the measurement of these liabilities:
Operating cash flows for operating leases	$ 21	$ 21	$ 18
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$ 29	$ 25	$ 14
Weighted Average Remaining Lease Term
Operating leases	3 years 10 months 24 days	4 years 4 months 24 days	4 years
Weighted Average Discount Rate
Operating leases	5.30%	4.80%	3.50%

LEASES - Future Minimum Lease P

LEASES - Future Minimum Lease Payments Under Leases (Details) $ in Millions	Dec. 31, 2024 USD ($)
Leases [Abstract]
2026	$ 17
2027	15
2028	14
2029	6
2030	2
2030 and thereafter	3
Total future minimum lease payments	57
Imputed interest	(5)
Lease liabilities	$ 52

LEASES - Future Minimum Rental

LEASES - Future Minimum Rental Revenues (Details) $ in Millions	Dec. 31, 2024 USD ($)
Leases [Abstract]
2026	$ 77
2027	62
2028	9
2029	9
2030	9
2030 and thereafter	79
Total future minimum rental revenues	$ 245

LEASES - Property Under Operati

LEASES - Property Under Operating Leases (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Gross property under operating leases	$ 484	$ 58
Accumulated amortization of property under operating leases	$ 17	$ 15

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Purchase Commitments (Details) $ in Millions	Dec. 31, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2025	$ 14
2026	13
2027	12
2028	12
2029	12
2030 and thereafter	32
Total	$ 95

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Narrative (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2024 CAD ($)
Loss Contingencies [Line Items]
Reduction to contingent liability accrual and decrease to operation and maintenance expense	$ 9	$ 6
Accrued contingent liabilities	3	$ 13
Revolving Term Credit Facility | Vector
Loss Contingencies [Line Items]
Financing receivables			$ 70
Maximum potential payout	49
Performance surety bonds
Loss Contingencies [Line Items]
Maximum potential indemnification	$ 30

STOCK-BASED COMPENSATION AND _3

STOCK-BASED COMPENSATION AND DEFINED CONTRIBUTION PLANS - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized limit of common stock (in shares)	8,250,000
Maximum annual increase for authorized common stock (in shares)	1,750,000
Unrecognized compensation cost related to non-vested stock incentive plan arrangements	$ 27
Unrecognized compensation cost related to non-vested stock incentive plan arrangements, period for recognition	1 year 9 months 7 days
Defined contribution plan cost	$ 7	$ 7	$ 5
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date, fair value, excluding reinvested dividends (in usd per share)	$ 62.63	$ 52.66	$ 52.25
Intrinsic value vested stock	$ 7	$ 8	$ 3
Restricted Stock Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Restricted Stock Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Performance Share Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Weighted average grant date, fair value, excluding reinvested dividends (in usd per share)	$ 52.05	$ 53.74	$ 72.91
Intrinsic value settled stock	$ 10	$ 9	$ 4

STOCK-BASED COMPENSATION AND _4

STOCK-BASED COMPENSATION AND DEFINED CONTRIBUTION PLANS - Stock-based Compensation Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Stock-based compensation expense	$ 23	$ 20	$ 17
Tax benefit	$ 5	$ 5	$ 4

STOCK-BASED COMPENSATION AND _5

STOCK-BASED COMPENSATION AND DEFINED CONTRIBUTION PLANS - Restricted Stock Unit and Performance Share Activity (Details)	12 Months Ended
	Dec. 31, 2024 $ / shares shares
Weighted- Average Grant Date Fair Value
Settled (in dollars per share) | $ / shares	$ 48.12
Restricted Stock Units
Restricted Stock Units/Performance Shares
Beginning balance (in shares)	417,000
Grants (in shares)	152,000
Forfeitures (in shares)	(4,000)
Vested (in shares)	(104,000)
Ending balance (in shares)	461,000
Vested, not issued (in shares)	2,000
Weighted- Average Grant Date Fair Value
Beginning balance (in dollars per share) | $ / shares	$ 45.82
Grants (in dollars per share) | $ / shares	60.37
Forfeitures (in dollars per share) | $ / shares	49.35
Vested and issued (in dollars per share) | $ / shares	42.40
Ending balance (in dollars per share) | $ / shares	$ 51.37
Performance Share Awards
Restricted Stock Units/Performance Shares
Beginning balance (in shares)	557,000
Grants (in shares)	372,000
Forfeitures (in shares)	(29,000)
Settled (in shares)	(199,000)
Ending balance (in shares)	701,000
Weighted- Average Grant Date Fair Value
Beginning balance (in dollars per share) | $ / shares	$ 64.36
Grants (in dollars per share) | $ / shares	55.32
Forfeitures (in dollars per share) | $ / shares	59.66
Ending balance (in dollars per share) | $ / shares	$ 64.38

SEGMENT AND RELATED INFORMATI_3

SEGMENT AND RELATED INFORMATION (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) segment	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Segment Reporting Information [Line Items]
Number of segments | segment	2
Revenues
Operating revenues	$ 981	$ 922	$ 920
Operating Expenses
Operation and maintenance	244	245	267
Depreciation and amortization	209	182	170
Taxes other than income	39	28	28
Other (Income) and Deductions
Asset (gains) losses and impairments, net	0	(4)	(23)
Interest expense	153	150	137
Interest income	(7)	(1)	(3)
Earnings from equity method investees	(162)	(177)	(150)
Loss from financing activities	5	0	13
Other income	(4)	(1)	(1)
Income Tax Expense	137	104	100
Less: Net Income Attributable to Noncontrolling Interests	13	12	12
Net Income Attributable to DT Midstream	354	384	370
Capital expenditures	350	772	890
Acquisition accounted for as a business combination	1,198	0	0
Investments in equity method investees	1,297	1,762	2,200
Goodwill	776	473	473
Total Assets	9,935	8,982	8,833
Pipeline
Revenues
Operating revenues	443	377	339
Other (Income) and Deductions
Goodwill	356	53
Gathering
Revenues
Operating revenues	538	545	581
Other (Income) and Deductions
Goodwill	420	420
Operating segments
Revenues
Operating revenues	981	922	920
Operating Expenses
Operation and maintenance	244	245	267
Depreciation and amortization	209	182	170
Taxes other than income	39	28	28
Other (Income) and Deductions
Asset (gains) losses and impairments, net		(4)	(23)
Interest expense	153	150	137
Interest income	(7)	(1)	(3)
Earnings from equity method investees	(162)	(177)	(150)
Loss from financing activities	5		13
Other income	(4)	(1)	(1)
Income Tax Expense	137	104	100
Less: Net Income Attributable to Noncontrolling Interests	13	12	12
Net Income Attributable to DT Midstream	354	384	370
Capital expenditures	350	772	890
Acquisition accounted for as a business combination	1,198
Investments in equity method investees	1,297	1,762	2,200
Goodwill	776	473	473
Total Assets	9,935	8,982	8,833
Operating segments | Pipeline
Revenues
Operating revenues	443	377	339
Operating Expenses
Operation and maintenance	68	55	54
Depreciation and amortization	74	69	63
Taxes other than income	22	15	14
Other (Income) and Deductions
Asset (gains) losses and impairments, net		(4)	(6)
Interest expense	47	55	57
Interest income	(4)	(1)	(1)
Earnings from equity method investees	(162)	(177)	(150)
Loss from financing activities	3		6
Other income	(1)	0	0
Income Tax Expense	107	75	62
Less: Net Income Attributable to Noncontrolling Interests	13	12	12
Net Income Attributable to DT Midstream	276	278	228
Capital expenditures	73	255	638
Acquisition accounted for as a business combination	1,198
Investments in equity method investees	1,297	1,762	2,200
Goodwill	356	53	53
Total Assets	5,274	4,439	4,625
Operating segments | Gathering
Revenues
Operating revenues	538	545	581
Operating Expenses
Operation and maintenance	176	190	213
Depreciation and amortization	135	113	107
Taxes other than income	17	13	14
Other (Income) and Deductions
Asset (gains) losses and impairments, net		0	(17)
Interest expense	106	95	80
Interest income	(3)	0	(2)
Earnings from equity method investees	0	0	0
Loss from financing activities	2		7
Other income	(3)	(1)	(1)
Income Tax Expense	30	29	38
Less: Net Income Attributable to Noncontrolling Interests	0	0	0
Net Income Attributable to DT Midstream	78	106	142
Capital expenditures	277	517	252
Acquisition accounted for as a business combination	0
Investments in equity method investees	0	0	0
Goodwill	420	420	420
Total Assets	4,661	4,543	4,208
Eliminations
Revenues
Operating revenues	0	0	0
Operating Expenses
Operation and maintenance	0	0	0
Depreciation and amortization	0	0	0
Taxes other than income	0	0	0
Other (Income) and Deductions
Asset (gains) losses and impairments, net		0	0
Interest expense	0	0	0
Interest income	0	0	0
Earnings from equity method investees	0	0	0
Loss from financing activities	0		0
Other income	0	0	0
Income Tax Expense	0	0	0
Less: Net Income Attributable to Noncontrolling Interests	0	0	0
Net Income Attributable to DT Midstream	0	0	0
Capital expenditures	0	0	0
Acquisition accounted for as a business combination	0
Investments in equity method investees	0	0	0
Goodwill	0	0	0
Total Assets	$ 0	$ 0	$ 0

RELATED PARTY TRANSACTIONS - Su

RELATED PARTY TRANSACTIONS - Summary of Related Party Balances (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Related Party Transaction [Line Items]
Current Liabilities — Other	$ 17	$ 15
Related Party
Related Party Transaction [Line Items]
Notes receivable from Vector — long-term	4	4
Current Liabilities — Other	$ 1	$ 1

RELATED PARTY TRANSACTIONS - _2

RELATED PARTY TRANSACTIONS - Summary of Related Party Transactions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Related Party
Related Party Transaction [Line Items]
Operation and maintenance and Other expense	$ (2)	$ (1)	$ (1)

ACQUISITIONS - Narrative (Detai

ACQUISITIONS - Narrative (Details) $ in Millions			12 Months Ended
	Dec. 31, 2024 USD ($) pipeline state mi Bcf	Jul. 01, 2024 USD ($)	Dec. 31, 2024 USD ($) pipeline state mi Bcf	Dec. 31, 2023 USD ($)
Midwest Pipeline Acquisition
Asset Acquisition [Line Items]
Number of pipelines acquired | pipeline	3		3
Total consideration	$ 1,200
Operating ownership acquired	100%		100%
Pipeline capacity (in Bcf/d) | Bcf	3.7		3.7
Pipeline length (in miles) | mi	1,300		1,300
Number of states acquired pipelines cross | state	7		7
Cash consideration	$ 1,200
Intangible assets acquired	11		$ 11
Direct transaction costs for the acquisition			5
Pro forma net interest expense			11	$ 23
Pro forma income tax expense				22
Pro forma transaction costs				7
Pro forma other adjustments			1	$ 4
Midwest Pipeline Acquisition | Customer relationships
Asset Acquisition [Line Items]
Intangible assets acquired	$ 11		$ 11
Amortization period of intangible assets acquired	5 years		5 years
Guardian Pipeline, L.L.C.
Asset Acquisition [Line Items]
Pipeline length (in miles) | mi	263		263
Midwestern Gas Transmission Company
Asset Acquisition [Line Items]
Pipeline length (in miles) | mi	402		402
Viking Gas Transmission Company
Asset Acquisition [Line Items]
Pipeline length (in miles) | mi	674		674
Maximum | Customer relationships
Asset Acquisition [Line Items]
Amortization period of intangible assets acquired	40 years		40 years
Clean Fuels Gathering Asset Acquisition
Asset Acquisition [Line Items]
Purchase consideration of asset acquisition		$ 12
Contingent payment recorded as Accounts Payable	$ 10		$ 10
Clean Fuels Gathering Asset Acquisition | Maximum
Asset Acquisition [Line Items]
Contingent payments upon the completion of certain milestones		$ 34

ACQUISITIONS - Components of Pr

ACQUISITIONS - Components of Preliminary Purchase Price Allocation (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Assets
Goodwill	$ 776	$ 473	$ 473
Midwest Pipeline Acquisition
Assets
Accounts receivable	29
Other current assets	10
Property, plant, and equipment, net	933
Goodwill	303
Customer relationship intangible assets	11
Regulatory assets	10
Other assets	22
Assets	1,318
Liabilities
Accounts payable	12
Property taxes payable	5
Other current liabilities	3
Regulatory liabilities	90
Other liabilities	10
Liabilities	120
Total cash consideration	$ 1,198

ACQUISITIONS - Pro Forma Inform

ACQUISITIONS - Pro Forma Information (Details) - Midwest Pipeline Acquisition - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Business Acquisition [Line Items]
Revenue	$ 1,182	$ 1,091
Net Income attributable to DT Midstream	$ 430	$ 377

REGULATORY MATTERS (Details)

REGULATORY MATTERS (Details) $ in Millions	Dec. 31, 2024 USD ($)
Regulatory Asset [Line Items]
Regulatory Assets	$ 10
Regulatory Liabilities	90
Refundable federal income taxes
Regulatory Asset [Line Items]
Regulatory Liabilities	79
Removal costs liability
Regulatory Asset [Line Items]
Regulatory Liabilities	11
Recoverable income taxes related to AFUDC equity
Regulatory Asset [Line Items]
Regulatory Assets	7
Load Management Services Cost Recovery Mechanism
Regulatory Asset [Line Items]
Regulatory Assets	2
Other regulatory assets
Regulatory Asset [Line Items]
Regulatory Assets	$ 1

SUBSEQUENT EVENT (Details)

SUBSEQUENT EVENT (Details) - $ / shares		3 Months Ended												12 Months Ended
	Feb. 26, 2025	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Subsequent Event [Line Items]
Dividends declared on common stock (in dollars per share)		$ 0.735	$ 0.735	$ 0.735	$ 0.735	$ 0.69	$ 0.69	$ 0.69	$ 0.69	$ 0.64	$ 0.64	$ 0.64	$ 0.64	$ 2.94	$ 2.76	$ 2.56
Subsequent Event
Subsequent Event [Line Items]
Dividends declared on common stock (in dollars per share)	$ 0.82