10-Q Filing
Filing Information
| Form Type | 10-Q |
| Accession Number | 0000950170-23-017201 |
| Period End Date | 20230331 |
| Filing Date | 20230503 |
| Fiscal Year | 2023 |
| Fiscal Period | Q1 |
| XBRL Instance | hesm-20230331_htm.xml |
Filing Contents
This filing contains the following financial statements:
Balance Sheet
50 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$3.10M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$3.60M | USD | Point-in-time |
| From contracts with customers |
AccountsReceivableRelatedPartiesCurrent
|
$109.20M | USD | Point-in-time |
| From contracts with customers |
AccountsReceivableRelatedPartiesCurrent
|
$123.00M | USD | Point-in-time |
| Other current assets |
OtherAssetsCurrent
|
$6.20M | USD | Point-in-time |
| Other current assets |
OtherAssetsCurrent
|
$3.80M | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$132.30M | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$116.60M | USD | Point-in-time |
| Equity investments |
EquityMethodInvestments
|
$92.90M | USD | Point-in-time |
| Equity investments |
EquityMethodInvestments
|
$93.90M | USD | Point-in-time |
| Property, plant and equipment, net |
PropertyPlantAndEquipmentNet
|
$3.18B | USD | Point-in-time |
| Property, plant and equipment, net |
PropertyPlantAndEquipmentNet
|
$3.17B | USD | Point-in-time |
| Long-term receivableaffiliate |
AdvancesToAffiliate
|
$500.00K | USD | Point-in-time |
| Long-term receivableaffiliate |
AdvancesToAffiliate
|
$700.00K | USD | Point-in-time |
| Deferred tax asset |
DeferredIncomeTaxAssetsNet
|
$177.20M | USD | Point-in-time |
| Deferred tax asset |
DeferredIncomeTaxAssetsNet
|
$174.90M | USD | Point-in-time |
| Other noncurrent assets |
OtherAssetsNoncurrent
|
$10.60M | USD | Point-in-time |
| Other noncurrent assets |
OtherAssetsNoncurrent
|
$11.30M | USD | Point-in-time |
| Total assets |
Assets
|
$3.58B | USD | Point-in-time |
| Total assets |
Assets
|
$3.59B | USD | Point-in-time |
| Accounts payabletrade |
AccountsPayableTradeCurrent
|
$39.80M | USD | Point-in-time |
| Accounts payabletrade |
AccountsPayableTradeCurrent
|
$35.00M | USD | Point-in-time |
| Accounts payableaffiliate |
AccountsPayableRelatedPartiesCurrent
|
$27.70M | USD | Point-in-time |
| Accounts payableaffiliate |
AccountsPayableRelatedPartiesCurrent
|
$19.20M | USD | Point-in-time |
| Accrued liabilities |
AccruedLiabilitiesCurrent
|
$82.90M | USD | Point-in-time |
| Accrued liabilities |
AccruedLiabilitiesCurrent
|
$70.90M | USD | Point-in-time |
| Current maturities of long-term debt |
LongTermDebtCurrent
|
$5.00M | USD | Point-in-time |
| Current maturities of long-term debt |
LongTermDebtCurrent
|
$2.50M | USD | Point-in-time |
| Other current liabilities |
OtherLiabilitiesCurrent
|
$3.60M | USD | Point-in-time |
| Other current liabilities |
OtherLiabilitiesCurrent
|
$11.40M | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$138.50M | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$159.50M | USD | Point-in-time |
| Long-term debt |
LongTermDebtNoncurrent
|
$2.88B | USD | Point-in-time |
| Long-term debt |
LongTermDebtNoncurrent
|
$2.99B | USD | Point-in-time |
| Deferred tax liability |
DeferredIncomeTaxLiabilitiesNet
|
$500.00K | USD | Point-in-time |
| Deferred tax liability |
DeferredIncomeTaxLiabilitiesNet
|
$400.00K | USD | Point-in-time |
| Other noncurrent liabilities |
OtherLiabilitiesNoncurrent
|
$16.10M | USD | Point-in-time |
| Other noncurrent liabilities |
OtherLiabilitiesNoncurrent
|
$16.00M | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$3.06B | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$3.14B | USD | Point-in-time |
| Total Class A and Class B partners' capital |
PartnersCapitalExcludingAccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$227.90M | USD | Point-in-time |
| Total Class A and Class B partners' capital |
PartnersCapitalExcludingAccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$245.10M | USD | Point-in-time |
| Noncontrolling interest |
PartnersCapitalAttributableToNoncontrollingInterest
|
$210.60M | USD | Point-in-time |
| Noncontrolling interest |
PartnersCapitalAttributableToNoncontrollingInterest
|
$283.90M | USD | Point-in-time |
| Total partners' capital |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$781.80M | USD | Point-in-time |
| Total partners' capital |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$529.00M | USD | Point-in-time |
| Total partners' capital |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$753.10M | USD | Point-in-time |
| Total partners' capital |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$438.50M | USD | Point-in-time |
| Total liabilities and partners' capital |
LiabilitiesAndStockholdersEquity
|
$3.59B | USD | Point-in-time |
| Total liabilities and partners' capital |
LiabilitiesAndStockholdersEquity
|
$3.58B | USD | Point-in-time |
Income Statement
30 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Affiliate services |
RevenueFromContractWithCustomerIncludingAssessedTax
|
$312.10M | USD | 1 Quarter |
| Affiliate services |
RevenueFromContractWithCustomerIncludingAssessedTax
|
$303.40M | USD | 1 Quarter |
| Other income |
OtherIncome
|
$300.00K | USD | 1 Quarter |
| Other income |
OtherIncome
|
$1.60M | USD | 1 Quarter |
| Total revenues |
Revenues
|
$305.00M | USD | 1 Quarter |
| Total revenues |
Revenues
|
$312.40M | USD | 1 Quarter |
| Operating and maintenance expenses (exclusive of depreciation shown separately below) |
OperatingCostsAndExpenses
|
$62.50M | 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
|
$47.40M | USD | 1 Quarter |
| General and administrative expenses |
GeneralAndAdministrativeExpense
|
$6.00M | USD | 1 Quarter |
| General and administrative expenses |
GeneralAndAdministrativeExpense
|
$6.40M | USD | 1 Quarter |
| Total operating costs and expenses |
CostsAndExpenses
|
$116.30M | USD | 1 Quarter |
| Total operating costs and expenses |
CostsAndExpenses
|
$116.90M | USD | 1 Quarter |
| Income from operations |
OperatingIncomeLoss
|
$195.50M | USD | 1 Quarter |
| Income from operations |
OperatingIncomeLoss
|
$188.70M | USD | 1 Quarter |
| Income from equity investments |
IncomeLossFromEquityMethodInvestments
|
$1.60M | 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
|
$-41.60M | USD | 1 Quarter |
| Income before income tax expense |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$148.70M | USD | 1 Quarter |
| Income before income tax expense |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$164.60M | USD | 1 Quarter |
| Income tax expense |
IncomeTaxExpenseBenefit
|
$6.50M | USD | 1 Quarter |
| Income tax expense |
IncomeTaxExpenseBenefit
|
$5.00M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$159.60M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$142.20M | USD | 1 Quarter |
| Less: Net income attributable to noncontrolling interest |
NetIncomeLossAttributableToNoncontrollingInterest
|
$142.70M | USD | 1 Quarter |
| Less: Net income attributable to noncontrolling interest |
NetIncomeLossAttributableToNoncontrollingInterest
|
$121.50M | USD | 1 Quarter |
| Net income attributable to Hess Midstream LP |
NetIncomeLoss
|
$16.90M | USD | 1 Quarter |
| Net income attributable to Hess Midstream LP |
NetIncomeLoss
|
$20.70M | USD | 1 Quarter |
Cash Flow Statement
56 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net income |
ProfitLoss
|
$159.60M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$142.20M | USD | 1 Quarter |
| Depreciation expense |
Depreciation
|
$44.40M | USD | 1 Quarter |
| Depreciation expense |
Depreciation
|
$47.40M | USD | 1 Quarter |
| (Income) loss from equity investments |
IncomeLossFromEquityMethodInvestments
|
$1.60M | 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
|
$2.60M | USD | 1 Quarter |
| Amortization of deferred financing costs |
AmortizationOfFinancingCosts
|
$2.10M | USD | 1 Quarter |
| Amortization of deferred financing costs |
AmortizationOfFinancingCosts
|
$2.00M | USD | 1 Quarter |
| Equity-based compensation expense |
ShareBasedCompensation
|
$600.00K | USD | 1 Quarter |
| Equity-based compensation expense |
ShareBasedCompensation
|
$500.00K | USD | 1 Quarter |
| Deferred income tax expense (benefit) |
DeferredIncomeTaxExpenseBenefit
|
$6.50M | USD | 1 Quarter |
| Deferred income tax expense (benefit) |
DeferredIncomeTaxExpenseBenefit
|
$5.00M | USD | 1 Quarter |
| Accounts receivable affiliate |
IncreaseDecreaseInDueFromAffiliatesCurrent
|
$-14.00M | 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
|
$-2.50M | USD | 1 Quarter |
| Accounts payable trade |
IncreaseDecreaseInAccountsPayableTrade
|
$4.80M | USD | 1 Quarter |
| Accounts payable trade |
IncreaseDecreaseInAccountsPayableTrade
|
$8.70M | USD | 1 Quarter |
| Accounts payable affiliate |
IncreaseDecreaseInDueToAffiliatesCurrent
|
$-3.70M | USD | 1 Quarter |
| Accounts payable affiliate |
IncreaseDecreaseInDueToAffiliatesCurrent
|
$-2.60M | USD | 1 Quarter |
| Accrued liabilities |
IncreaseDecreaseInAccruedLiabilities
|
$-11.00M | USD | 1 Quarter |
| Accrued liabilities |
IncreaseDecreaseInAccruedLiabilities
|
$-10.50M | USD | 1 Quarter |
| Other current and noncurrent liabilities |
IncreaseDecreaseInOtherOperatingLiabilities
|
$-7.20M | USD | 1 Quarter |
| Other current and noncurrent liabilities |
IncreaseDecreaseInOtherOperatingLiabilities
|
$-8.20M | USD | 1 Quarter |
| Net cash provided by (used in) operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$198.70M | USD | 1 Quarter |
| Net cash provided by (used in) operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$190.60M | USD | 1 Quarter |
| Additions to property, plant and equipment |
PaymentsToAcquirePropertyPlantAndEquipment
|
$54.80M | USD | 1 Quarter |
| Additions to property, plant and equipment |
PaymentsToAcquirePropertyPlantAndEquipment
|
$64.30M | USD | 1 Quarter |
| Net cash provided by (used in) investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-64.30M | USD | 1 Quarter |
| Net cash provided by (used in) investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-54.80M | USD | 1 Quarter |
| Net proceeds from (repayments of) bank borrowings with maturities of 90 days or less |
ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess
|
$1.00M | USD | 1 Quarter |
| Net proceeds from (repayments of) bank borrowings with maturities of 90 days or less |
ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess
|
$103.00M | USD | 1 Quarter |
| Repayments |
RepaymentsOfShortTermDebtMaturingInMoreThanThreeMonths
|
$5.00M | USD | 1 Quarter |
| Transaction costs |
PaymentOfTransactionCosts
|
$200.00K | USD | 1 Quarter |
| Class B unit repurchase |
PaymentsForRepurchaseOfCommonStock
|
$100.00M | USD | 1 Quarter |
| Distributions to shareholders/unitholders |
PaymentsOfDistributionToShareholdersUnitholders
|
$25.10M | USD | 1 Quarter |
| Distributions to shareholders/unitholders |
PaymentsOfDistributionToShareholdersUnitholders
|
$17.50M | USD | 1 Quarter |
| Distributions to noncontrolling interest |
PaymentsToMinorityShareholders
|
$111.60M | USD | 1 Quarter |
| Distributions to noncontrolling interest |
PaymentsToMinorityShareholders
|
$113.50M | 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
|
$-133.90M | USD | 1 Quarter |
| Increase (decrease) in cash and cash equivalents |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
$500.00K | USD | 1 Quarter |
| Increase (decrease) in cash and cash equivalents |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
$800.00K | USD | 1 Quarter |
| Cash and cash equivalents, beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
$3.10M | USD | Point-in-time |
| Cash and cash equivalents, beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
$3.60M | USD | Point-in-time |
| Cash and cash equivalents, beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
$2.20M | USD | Point-in-time |
| Cash and cash equivalents, beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
$3.00M | USD | Point-in-time |
| Cash and cash equivalents, end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
$3.10M | USD | Point-in-time |
| Cash and cash equivalents, end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
$3.60M | USD | Point-in-time |
| Cash and cash equivalents, end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
$2.20M | USD | Point-in-time |
| Cash and cash equivalents, end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
$3.00M | 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
|
$7.00M | USD | 1 Quarter |
| Recognition of deferred tax asset |
RecognitionOfNonCashDeferredTaxAsset
|
$4.30M | USD | 1 Quarter |
Stockholders Equity
20 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Distributions to unitholders - per unit/share |
DistributionMadeToLimitedPartnerDistributionsPaidPerUnit
|
$0.57 | USD | 1 Quarter |
| Distributions to unitholders - per unit/share |
DistributionMadeToLimitedPartnerDistributionsPaidPerUnit
|
$0.52 | USD | 1 Quarter |
| Balance, beginning of period |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$781.80M | USD | Point-in-time |
| Balance, beginning of period |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$529.00M | USD | Point-in-time |
| Balance, beginning of period |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$753.10M | USD | Point-in-time |
| Balance, beginning of period |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$438.50M | USD | Point-in-time |
| Net income |
ProfitLoss
|
$159.60M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$142.20M | USD | 1 Quarter |
| Equity-based compensation |
PartnersCapitalAccountUnitBasedCompensation
|
$600.00K | USD | 1 Quarter |
| Equity-based compensation |
PartnersCapitalAccountUnitBasedCompensation
|
$500.00K | USD | 1 Quarter |
| Distributions to unitholders |
LimitedPartnersCapitalAccountDistributionAmount
|
$136.70M | USD | 1 Quarter |
| Distributions to unitholders |
LimitedPartnersCapitalAccountDistributionAmount
|
$131.00M | USD | 1 Quarter |
| Recognition of deferred tax asset |
RecognitionOfDeferredTaxAsset
|
$4.30M | USD | 1 Quarter |
| Class B unit repurchase |
PartnersCapitalAccountRedemptions
|
$-100.00M | USD | 1 Quarter |
| Transaction costs |
TransactionCosts
|
$-900.00K | USD | 1 Quarter |
| Transaction costs |
TransactionCosts
|
$-400.00K | USD | 1 Quarter |
| Balance, end of period |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$781.80M | USD | Point-in-time |
| Balance, end of period |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$529.00M | USD | Point-in-time |
| Balance, end of period |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$753.10M | USD | Point-in-time |
| Balance, end of period |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$438.50M | USD | Point-in-time |
Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.