Statements of Consolidated Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2024

Jun. 30, 2023

Jun. 30, 2024

Jun. 30, 2023

Income Statement [Abstract]

Operating revenues

$ 361,595

$ 318,469

$ 725,869

$ 694,806

Operating expenses:

Operating and maintenance

48,006

45,767

93,234

88,629

Selling, general and administrative

45,653

56,932

89,982

89,554

Transaction costs

2,011

7,695

Depreciation

73,188

70,031

144,860

139,435

Amortization of intangible assets

16,205

32,410

Total operating expenses

185,063

188,935

368,181

350,028

Operating income

176,532

129,534

357,688

344,778

Equity income

^[1]

18,814

23,686

91,819

^[2]

23,808

^[2]

Other income (expense), net

3,602

19,809

(374)

11,707

Net interest expense

(120,129)

(103,644)

(239,025)

(208,601)

Income before income taxes

78,819

69,385

210,108

171,692

Income tax expense (benefit)

7,105

465

26,505

(3,319)

Net income

71,714

68,920

183,603

175,011

Net income attributable to noncontrolling interest

1,325

1,675

4,215

6,084

Net income attributable to Equitrans Midstream

70,389

67,245

179,388

168,927

Preferred dividends

20,516

14,628

35,144

29,256

Net income attributable to Equitrans Midstream common shareholders

$ 49,873

$ 52,617

$ 144,244

$ 139,671

Earnings per share of common stock attributable to Equitrans Midstream common shareholders - basic (in dollars per share)

$ 0.11

$ 0.12

$ 0.33

$ 0.32

Earnings per share of common stock attributable to Equitrans Midstream common shareholders - diluted (in dollars per share)

$ 0.11

$ 0.12

$ 0.33

$ 0.32

Weighted average common shares outstanding - basic (in shares)

434,606

433,961

434,551

433,834

Weighted average common shares outstanding - diluted (in shares)

441,771

435,476

441,238

434,640

Statement of comprehensive income:

Net income

$ 71,714

$ 68,920

$ 183,603

$ 175,011

Other comprehensive income, net of tax:

Pension and other post-retirement benefits liability adjustment, net of tax expense of $6, $7, $12, and $14

Other comprehensive income

Comprehensive income

71,734

68,942

183,643

175,055

Less: Comprehensive income attributable to noncontrolling interest

1,325

1,675

4,215

6,084

Less: Comprehensive income attributable to preferred dividends

20,516

14,628

35,144

29,256

Comprehensive income attributable to Equitrans Midstream common shareholders

$ 49,893

$ 52,639

$ 144,284

$ 139,715

Dividends declared per common share (in dollars per share)

$ 0.15

$ 0.30

[1]	Represents equity income from Mountain Valley Pipeline, LLC (the MVP Joint Venture). See Note 5.
[2]	Represents equity income from the MVP Joint Venture. See Note 5.

Equitrans Midstream Corp 10-Q