10-Q Filing

HESS MIDSTREAM LP CIK: 1789832 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0000950170-22-007851`
Period End Date	20220331
Filing Date	20220505
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	hesm-20220331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 50 Income Statement 29 Cash Flow Statement 55 Stockholders Equity 18

Balance Sheet 50 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.20M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.00M	USD	Point-in-time
From contracts with customers	`AccountsReceivableRelatedPartiesCurrent`	$120.30M	USD	Point-in-time
From contracts with customers	`AccountsReceivableRelatedPartiesCurrent`	$137.50M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$6.70M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$10.60M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$147.20M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$133.10M	USD	Point-in-time
Equity investments	`EquityMethodInvestments`	$97.30M	USD	Point-in-time
Equity investments	`EquityMethodInvestments`	$101.60M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$3.12B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$3.12B	USD	Point-in-time
Long-term receivableaffiliate	`AdvancesToAffiliate`	$700.00K	USD	Point-in-time
Long-term receivableaffiliate	`AdvancesToAffiliate`	$800.00K	USD	Point-in-time
Deferred tax asset	`DeferredIncomeTaxAssetsNet`	$117.30M	USD	Point-in-time
Deferred tax asset	`DeferredIncomeTaxAssetsNet`	$112.30M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$7.80M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$7.10M	USD	Point-in-time
Total assets	`Assets`	$3.49B	USD	Point-in-time
Total assets	`Assets`	$3.48B	USD	Point-in-time
Accounts payabletrade	`AccountsPayableTradeCurrent`	$26.90M	USD	Point-in-time
Accounts payabletrade	`AccountsPayableTradeCurrent`	$35.60M	USD	Point-in-time
Accounts payableaffiliate	`AccountsPayableRelatedPartiesCurrent`	$37.60M	USD	Point-in-time
Accounts payableaffiliate	`AccountsPayableRelatedPartiesCurrent`	$27.40M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$76.20M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$55.50M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$20.00M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$22.50M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$2.80M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$10.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$170.90M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$143.80M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$2.54B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$2.54B	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilitiesNet`	$400.00K	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilitiesNet`	$400.00K	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$18.10M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$17.70M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.70B	USD	Point-in-time
Total liabilities	`Liabilities`	$2.73B	USD	Point-in-time
Total partners' capital	`PartnersCapitalExcludingAccumulatedOtherComprehensiveIncomeLossNetOfTax`	$204.10M	USD	Point-in-time
Total partners' capital	`PartnersCapitalExcludingAccumulatedOtherComprehensiveIncomeLossNetOfTax`	$203.90M	USD	Point-in-time
Noncontrolling interest	`PartnersCapitalAttributableToNoncontrollingInterest`	$577.90M	USD	Point-in-time
Noncontrolling interest	`PartnersCapitalAttributableToNoncontrollingInterest`	$549.00M	USD	Point-in-time
Total partners' capital	`PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest`	$1.39B	USD	Point-in-time
Total partners' capital	`PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest`	$781.80M	USD	Point-in-time
Total partners' capital	`PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest`	$1.33B	USD	Point-in-time
Total partners' capital	`PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest`	$753.10M	USD	Point-in-time
Total liabilities and partners' capital	`LiabilitiesAndStockholdersEquity`	$3.49B	USD	Point-in-time
Total liabilities and partners' capital	`LiabilitiesAndStockholdersEquity`	$3.48B	USD	Point-in-time

Income Statement 29 line items

Line Item	Tag	Value	Unit	Period
Affiliate services	`RevenueFromContractWithCustomerIncludingAssessedTax`	$288.80M	USD	1 Quarter
Affiliate services	`RevenueFromContractWithCustomerIncludingAssessedTax`	$312.10M	USD	1 Quarter
Other income	`OtherIncome`	$300.00K	USD	1 Quarter
Total revenues	`Revenues`	$288.80M	USD	1 Quarter
Total revenues	`Revenues`	$312.40M	USD	1 Quarter
Operating and maintenance expenses (exclusive of depreciation shown separately below)	`OperatingCostsAndExpenses`	$59.80M	USD	1 Quarter
Operating and maintenance expenses (exclusive of depreciation shown separately below)	`OperatingCostsAndExpenses`	$66.50M	USD	1 Quarter
Depreciation expense	`Depreciation`	$44.40M	USD	1 Quarter
Depreciation expense	`Depreciation`	$40.20M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$6.00M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$6.30M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$116.90M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$106.30M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$182.50M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$195.50M	USD	1 Quarter
Income from equity investments	`IncomeLossFromEquityMethodInvestments`	$2.70M	USD	1 Quarter
Income from equity investments	`IncomeLossFromEquityMethodInvestments`	$400.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-31.30M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-23.10M	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$164.60M	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$162.10M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$5.00M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.50M	USD	1 Quarter
Net income	`ProfitLoss`	$159.60M	USD	1 Quarter
Net income	`ProfitLoss`	$159.60M	USD	1 Quarter
Less: Net income attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$142.70M	USD	1 Quarter
Less: Net income attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$151.00M	USD	1 Quarter
Net income attributable to Hess Midstream LP	`NetIncomeLoss`	$8.60M	USD	1 Quarter
Net income attributable to Hess Midstream LP	`NetIncomeLoss`	$16.90M	USD	1 Quarter

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$159.60M	USD	1 Quarter
Net income	`ProfitLoss`	$159.60M	USD	1 Quarter
Depreciation expense	`Depreciation`	$44.40M	USD	1 Quarter
Depreciation expense	`Depreciation`	$40.20M	USD	1 Quarter
(Income) loss from equity investments	`IncomeLossFromEquityMethodInvestments`	$2.70M	USD	1 Quarter
(Income) loss from equity investments	`IncomeLossFromEquityMethodInvestments`	$400.00K	USD	1 Quarter
Distributions from equity investments	`EquityMethodInvestmentDividendsOrDistributions`	$4.70M	USD	1 Quarter
Distributions from equity investments	`EquityMethodInvestmentDividendsOrDistributions`	$7.50M	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$2.00M	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$1.70M	USD	1 Quarter
Equity-based compensation expense	`ShareBasedCompensation`	$500.00K	USD	1 Quarter
Equity-based compensation expense	`ShareBasedCompensation`	$400.00K	USD	1 Quarter
Deferred income tax expense (benefit)	`DeferredIncomeTaxExpenseBenefit`	$5.00M	USD	1 Quarter
Deferred income tax expense (benefit)	`DeferredIncomeTaxExpenseBenefit`	$2.50M	USD	1 Quarter
Accounts receivable affiliate	`IncreaseDecreaseInDueFromAffiliatesCurrent`	$14.90M	USD	1 Quarter
Accounts receivable affiliate	`IncreaseDecreaseInDueFromAffiliatesCurrent`	$17.10M	USD	1 Quarter
Other current and noncurrent assets	`IncreaseDecreaseInOtherOperatingAssets`	$-4.00M	USD	1 Quarter
Other current and noncurrent assets	`IncreaseDecreaseInOtherOperatingAssets`	$-1.40M	USD	1 Quarter
Accounts payable trade	`IncreaseDecreaseInAccountsPayableTrade`	$8.70M	USD	1 Quarter
Accounts payable trade	`IncreaseDecreaseInAccountsPayableTrade`	$-9.70M	USD	1 Quarter
Accounts payable affiliate	`IncreaseDecreaseInDueToAffiliatesCurrent`	$-2.60M	USD	1 Quarter
Accounts payable affiliate	`IncreaseDecreaseInDueToAffiliatesCurrent`	$-1.90M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-10.80M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-11.00M	USD	1 Quarter
Other current and noncurrent liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-7.20M	USD	1 Quarter
Other current and noncurrent liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-7.90M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$190.60M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$165.40M	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$26.70M	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$54.80M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-54.80M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-26.70M	USD	1 Quarter
Net proceeds from (repayments of) bank borrowings with maturities of 90 days or less	`ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess`	$-10.00M	USD	1 Quarter
Net proceeds from (repayments of) bank borrowings with maturities of 90 days or less	`ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess`	$1.00M	USD	1 Quarter
Repayments	`RepaymentsOfShortTermDebtMaturingInMoreThanThreeMonths`	$2.50M	USD	1 Quarter
Repayments	`RepaymentsOfShortTermDebtMaturingInMoreThanThreeMonths`	$5.00M	USD	1 Quarter
Distributions to shareholders/unitholders	`PaymentsOfDistributionToShareholdersUnitholders`	$17.50M	USD	1 Quarter
Distributions to shareholders/unitholders	`PaymentsOfDistributionToShareholdersUnitholders`	$8.20M	USD	1 Quarter
Distributions to noncontrolling interest	`PaymentsToMinorityShareholders`	$113.50M	USD	1 Quarter
Distributions to noncontrolling interest	`PaymentsToMinorityShareholders`	$119.10M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-135.00M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-139.80M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-1.10M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$800.00K	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.50M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.00M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.60M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.20M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.50M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.00M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.60M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.20M	USD	Point-in-time
(Increase) decrease in accrued capital expenditures and related liabilities	`IncreaseDecreaseInAccruedCapitalExpendituresAndRelatedLiabilities`	$17.70M	USD	1 Quarter
(Increase) decrease in accrued capital expenditures and related liabilities	`IncreaseDecreaseInAccruedCapitalExpendituresAndRelatedLiabilities`	$3.60M	USD	1 Quarter
Recognition of deferred tax asset	`RecognitionOfNonCashDeferredTaxAsset`	$26.40M	USD	1 Quarter

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Distributions to unitholders - per share	`DistributionMadeToLimitedPartnerDistributionsPaidPerUnit`	$0.52	USD	1 Quarter
Distributions to unitholders - per share	`DistributionMadeToLimitedPartnerDistributionsPaidPerUnit`	$0.45	USD	1 Quarter
Balance, beginning of period	`PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest`	$1.39B	USD	Point-in-time
Balance, beginning of period	`PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest`	$781.80M	USD	Point-in-time
Balance, beginning of period	`PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest`	$1.33B	USD	Point-in-time
Balance, beginning of period	`PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest`	$753.10M	USD	Point-in-time
Net income	`ProfitLoss`	$159.60M	USD	1 Quarter
Net income	`ProfitLoss`	$159.60M	USD	1 Quarter
Equity-based compensation	`PartnersCapitalAccountUnitBasedCompensation`	$400.00K	USD	1 Quarter
Equity-based compensation	`PartnersCapitalAccountUnitBasedCompensation`	$500.00K	USD	1 Quarter
Distributions to unitholders	`LimitedPartnersCapitalAccountDistributionAmount`	$131.00M	USD	1 Quarter
Distributions to unitholders	`LimitedPartnersCapitalAccountDistributionAmount`	$127.30M	USD	1 Quarter
Transaction costs	`TransactionCosts`	$-400.00K	USD	1 Quarter
Recognition of deferred tax asset	`RecognitionOfDeferredTaxAsset`	$26.40M	USD	1 Quarter
Balance, end of period	`PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest`	$1.39B	USD	Point-in-time
Balance, end of period	`PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest`	$781.80M	USD	Point-in-time
Balance, end of period	`PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest`	$1.33B	USD	Point-in-time
Balance, end of period	`PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest`	$753.10M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.