XML 14 R4.htm IDEA: XBRL DOCUMENT v3.25.3
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues:        
Total revenues $ 146,883 $ 102,415 $ 419,797 $ 322,601
Costs and expenses:        
Cost of natural gas and NGLs $ 38,138 $ 28,246 $ 109,486 $ 88,047
Type of cost, good or service [extensible list] Natural Gas Liquids (NGL) [Member] Natural Gas Liquids (NGL) [Member] Natural Gas Liquids (NGL) [Member] Natural Gas Liquids (NGL) [Member]
Operation and maintenance $ 38,358 $ 24,473 $ 111,129 $ 72,925
General and administrative 13,159 12,419 45,275 41,368
Depreciation and amortization 28,855 23,540 87,427 75,324
Transaction costs 1,429 2,094 5,283 13,156
Acquisition integration costs 1,661 0 7,060 40
(Gain) loss on asset sales, net 120 (6) 120 1
Long-lived asset impairments 0 0 71 67,936
Total costs and expenses 121,720 90,766 365,851 358,797
Other income (expense), net (575) 666 8,860 2,784
Gain (loss) on interest rate swaps 131 (2,574) (1,335) 936
Gain (loss) on sale of business (539) (1,672) (582) 82,338
Gain on sale of equity method investment 0 0 0 126,261
Interest expense (24,191) (25,712) (70,592) (95,015)
Loss on early extinguishment of debt 0 (42,235) 0 (47,199)
Income from equity method investees 5,548 4,910 15,190 19,828
Income (loss) before income taxes 5,537 (54,968) 5,487 53,737
Income tax expense (537) (142,573) (81) (142,129)
Net income (loss) 5,000 (197,541) 5,406 (88,392)
Less: Net income attributable to Subsidiary Series A Preferred Units (3,769) (4,007) (11,040) (11,643)
Less: Net income attributable to Series A Preferred Stock (3,365) (3,393) (10,384) (9,926)
Add: Net loss attributable to noncontrolling interest in SMLP 556 0 4,525 0
Net loss attributable to Summit Midstream Corporation $ (1,578) $ (204,941) $ (11,493) $ (109,961)
Net loss per share:        
Common stock – basic (in dollars per share) $ (0.13) $ (19.25) $ (0.95) $ (10.39)
Common stock – diluted (in dollars per share) $ (0.13) $ (19.25) $ (0.95) $ (10.39)
Weighted-average number of shares outstanding:        
Common stock – basic (in shares) 12,255 10,649 12,090 10,583
Common stock – diluted (in shares) 12,255 10,649 12,090 10,583
Gathering services and related fees        
Revenues:        
Total revenues $ 65,359 $ 44,013 $ 193,706 $ 151,211
Natural gas, NGLs and condensate sales        
Revenues:        
Total revenues 71,079 48,243 196,751 145,294
Other revenues        
Revenues:        
Total revenues $ 10,445 $ 10,159 $ 29,340 $ 26,096