XML 38 R17.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Earnings Per Share and Dividends | 12 Months Ended
--- | ---
Dec. 31, 2023
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. We issued 1,000 shares of common stock at $0.01 par value to its parent, a subsidiary of DTE Energy, in January 2021. Our Board of Directors authorized the issuance of an additional 96,731,466 common shares on June 30, 2021 for a total of 96,732,466 common shares issued and outstanding at the Separation date. This share amount is treated as issued and outstanding and utilized for the calculation of historical basic and diluted earnings per share for all periods prior to the Separation. The following is a reconciliation of basic and diluted earnings per share:
|  |  |  |  | Year Ended December 31,
|  |  |  |  |  |  |  |  |  |  | 2023 |  | 2022 |  | 2021
|  |  | (millions, except per share amounts)
Basic and Diluted Earnings per Common Share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net Income Attributable to DT Midstream |  |  |  |  |  |  |  |  |  |  | $ | 384 |  |  | $ | 370 |  |  | $ | 307 |
Average number of common shares outstanding — basic |  |  |  |  |  |  |  |  |  |  | 96.9 |  | 96.7 |  | 96.7
Incremental shares attributable to: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Average dilutive restricted stock units and performance share awards |  |  |  |  |  |  |  |  |  |  | 0.6 |  |  | 0.5 |  |  | 0.2 |
Average number of common shares outstanding — diluted |  |  |  |  |  |  |  |  |  |  | 97.5 |  | 97.2 |  | 96.9
Basic Earnings per Common Share |  |  |  |  |  |  |  |  |  |  | $ | 3.97 |  |  | $ | 3.83 |  |  | $ | 3.17 |
Diluted Earnings per Common Share |  |  |  |  |  |  |  |  |  |  | $ | 3.94 |  |  | $ | 3.81 |  |  | $ | 3.16 |
We declared the following cash dividends:
Dividends Declared |  | Dividend Amount |  | Dividend Payment Date
(quarter ended) |  | (per-share) |  | (millions) |  |
2021 |  |  |  |  |  |
September 30 |  | $ | 0.60 |  |  | $ | 58 |  |  | October 2021
December 31 |  | $ | 0.60 |  |  | $ | 58 |  |  | January 2022
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

X
- Definition Earnings Per Share and Dividends + References No definition available. + Details
Name: | dtm_EarningsPerShareAndDividendsTextBlock
Namespace Prefix: | dtm_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration