Summit Midstream Corp (SMC) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
910 LOUISIANA STREET, SUITE 4200 HOUSTON, TX 77002 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 4922 - Natural Gas Transmission (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 6/30/2025 MRQ | 12/31/2024 | |||
|---|---|---|---|---|
| ASSETS | ||||
| Current Assets | ||||
| Cash, cash equivalents, and short-term investments | 22,822 | |||
| Cash and cash equivalent | 22,822 | |||
| Receivables | 77,058 | |||
| Other current assets | 16,014 | |||
| Other undisclosed current assets | 2,377 | |||
| Total current assets: | 118,271 | |||
| Noncurrent Assets | ||||
| Property, plant and equipment | 1,785,029 | |||
| Long-term investments and receivables | 269,561 | |||
| Long-term investments | 269,561 | |||
| Intangible assets, net (including goodwill) | 154,279 | |||
| Intangible assets, net (excluding goodwill) | 154,279 | |||
| Other noncurrent assets | 32,344 | |||
| Total noncurrent assets: | 2,241,213 | |||
| TOTAL ASSETS: | 2,359,484 | |||
| LIABILITIES AND EQUITY | ||||
| Liabilities | ||||
| Current Liabilities | ||||
| Accounts payable and accrued liabilities | 63,338 | |||
| Accounts payable | 25,162 | |||
| Accrued liabilities | 38,176 | |||
| Deferred revenue | 9,595 | |||
| Debt | 17,962 | |||
| Estimated litigation liability | 6,667 | |||
| Accrued environmental loss contingencies | 1,430 | |||
| Other liabilities | 34,714 | |||
| Other undisclosed current liabilities | 41,095 | |||
| Total current liabilities: | 174,801 | |||
| Noncurrent Liabilities | ||||
| Long-term debt and lease obligation | 976,995 | |||
| Long-term debt, excluding current maturities | 976,995 | |||
| Liabilities, other than long-term debt | 109,617 | |||
| Deferred revenue | 25,373 | |||
| Deferred income tax liabilities | 63,326 | |||
| Accrued environmental loss contingencies | 768 | |||
| Other liabilities | 20,150 | |||
| Total noncurrent liabilities: | 1,086,612 | |||
| Total liabilities: | 1,261,413 | |||
| Temporary equity, including noncontrolling interest | 132,946 | |||
| Equity | ||||
| Equity, attributable to parent, including: | 467,792 | |||
| Additional paid in capital | 540,714 | |||
| Accumulated deficit | (183,333) | |||
| Other undisclosed equity, attributable to parent | 110,411 | |||
| Equity, attributable to noncontrolling interest | 497,333 | |||
| Total equity: | 965,125 | |||
| TOTAL LIABILITIES AND EQUITY: | 2,359,484 | |||
Income Statement (P&L) ($ in thousands)
| 6/30/2025 TTM | 12/31/2024 | ||
|---|---|---|---|
| Revenues | 429,619 | ||
| Cost of revenue | (316,611) | ||
| Cost of product and service sold | (114,996) | ||
| Gross profit: | 113,008 | ||
| Operating expenses | (154,944) | ||
| Other operating income, net | 4,188 | ||
| Operating income (loss): | (37,748) | ||
| Nonoperating income | 126,261 | ||
| Investment income, nonoperating | 126,261 | ||
| Gain, foreign currency transaction, before tax | |||
| Interest and debt expense | (50,075) | ||
| Other undisclosed loss from continuing operations before equity method investments, income taxes | |||
| Income (loss) from continuing operations before equity method investments, income taxes: | 38,438 | ||
| Income from equity method investments | 24,197 | ||
| Other undisclosed loss from continuing operations before income taxes | (29,132) | ||
| Income (loss) from continuing operations before income taxes: | 33,503 | ||
| Income tax expense | (146,678) | ||
| Net loss: | (113,175) | ||
| Net income attributable to noncontrolling interest | 5,822 | ||
| Other undisclosed net loss attributable to parent | (14,806) | ||
| Net loss available to common stockholders, diluted: | (122,159) | ||
Comprehensive Income ($ in thousands)
| 6/30/2025 TTM | 12/31/2024 | ||
|---|---|---|---|
| Net loss: | (113,175) | ||
| Comprehensive loss: | (113,175) | ||
| Comprehensive income, net of tax, attributable to noncontrolling interest | 5,822 | ||
| Other undisclosed comprehensive income, net of tax, attributable to parent | |||
| Comprehensive loss, net of tax, attributable to parent: | (107,353) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.