10-Q Filing
Filing Information
| Form Type | 10-Q |
| Accession Number | 0001564590-20-022970 |
| Period End Date | 20200331 |
| Filing Date | 20200507 |
| Fiscal Year | 2020 |
| Fiscal Period | Q1 |
| XBRL Instance | hesm-10q_20200331_htm.xml |
Filing Contents
This filing contains the following financial statements:
Balance Sheet
51 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$3.10M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$3.30M | USD | Point-in-time |
| From contracts with customers |
AccountsReceivableRelatedPartiesCurrent
|
$87.60M | USD | Point-in-time |
| From contracts with customers |
AccountsReceivableRelatedPartiesCurrent
|
$106.80M | USD | Point-in-time |
| Other receivables |
AccountsAndOtherReceivablesNetCurrent
|
$300.00K | USD | Point-in-time |
| Other receivables |
AccountsAndOtherReceivablesNetCurrent
|
$300.00K | USD | Point-in-time |
| Other current assets |
OtherAssetsCurrent
|
$4.70M | USD | Point-in-time |
| Other current assets |
OtherAssetsCurrent
|
$3.00M | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$113.20M | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$95.90M | USD | Point-in-time |
| Equity investments |
EquityMethodInvestments
|
$110.50M | USD | Point-in-time |
| Equity investments |
EquityMethodInvestments
|
$107.80M | USD | Point-in-time |
| Property, plant and equipment, net |
PropertyPlantAndEquipmentNet
|
$3.01B | USD | Point-in-time |
| Property, plant and equipment, net |
PropertyPlantAndEquipmentNet
|
$3.03B | USD | Point-in-time |
| Long-term receivableaffiliate |
AdvancesToAffiliate
|
$1.20M | USD | Point-in-time |
| Long-term receivableaffiliate |
AdvancesToAffiliate
|
$1.10M | USD | Point-in-time |
| Deferred tax asset |
DeferredTaxAssetsLiabilitiesNet
|
$48.10M | USD | Point-in-time |
| Deferred tax asset |
DeferredTaxAssetsLiabilitiesNet
|
$49.80M | USD | Point-in-time |
| Other noncurrent assets |
OtherAssetsNoncurrent
|
$12.90M | USD | Point-in-time |
| Other noncurrent assets |
OtherAssetsNoncurrent
|
$12.90M | USD | Point-in-time |
| Total assets |
Assets
|
$3.28B | USD | Point-in-time |
| Total assets |
Assets
|
$3.31B | USD | Point-in-time |
| Accounts payabletrade |
AccountsPayableTradeCurrent
|
$30.60M | USD | Point-in-time |
| Accounts payabletrade |
AccountsPayableTradeCurrent
|
$37.90M | USD | Point-in-time |
| Accounts payableaffiliate |
AccountsPayableRelatedPartiesCurrent
|
$18.10M | USD | Point-in-time |
| Accounts payableaffiliate |
AccountsPayableRelatedPartiesCurrent
|
$47.90M | USD | Point-in-time |
| Accrued liabilities |
AccruedLiabilitiesCurrent
|
$84.30M | USD | Point-in-time |
| Accrued liabilities |
AccruedLiabilitiesCurrent
|
$88.70M | USD | Point-in-time |
| Current maturities of long-term debt |
LongTermDebtCurrent
|
$2.50M | USD | Point-in-time |
| Other current liabilities |
OtherLiabilitiesCurrent
|
$3.00M | USD | Point-in-time |
| Other current liabilities |
OtherLiabilitiesCurrent
|
$8.90M | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$176.10M | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$145.80M | USD | Point-in-time |
| Long-term debt |
LongTermDebtNoncurrent
|
$1.75B | USD | Point-in-time |
| Long-term debt |
LongTermDebtNoncurrent
|
$1.81B | USD | Point-in-time |
| Other noncurrent liabilities |
OtherLiabilitiesNoncurrent
|
$16.00M | USD | Point-in-time |
| Other noncurrent liabilities |
OtherLiabilitiesNoncurrent
|
$16.20M | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$1.97B | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$1.95B | USD | Point-in-time |
| Total partners' capital |
PartnersCapitalExcludingAccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$130.50M | USD | Point-in-time |
| Total partners' capital |
PartnersCapitalExcludingAccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$131.10M | USD | Point-in-time |
| Noncontrolling interest |
PartnersCapitalAttributableToNoncontrollingInterest
|
$1.20B | USD | Point-in-time |
| Noncontrolling interest |
PartnersCapitalAttributableToNoncontrollingInterest
|
$1.21B | USD | Point-in-time |
| Accumulated other comprehensive income |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$400.00K | USD | Point-in-time |
| Accumulated other comprehensive income |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$200.00K | USD | Point-in-time |
| Total partners' capital |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$1.33B | USD | Point-in-time |
| Total partners' capital |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$1.88B | USD | Point-in-time |
| Total partners' capital |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$1.71B | USD | Point-in-time |
| Total partners' capital |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$1.34B | USD | Point-in-time |
| Total liabilities and partners' capital |
LiabilitiesAndStockholdersEquity
|
$3.31B | USD | Point-in-time |
| Total liabilities and partners' capital |
LiabilitiesAndStockholdersEquity
|
$3.28B | USD | Point-in-time |
Income Statement
32 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Affiliate services |
RevenueFromContractWithCustomerIncludingAssessedTax
|
$290.60M | USD | 1 Quarter |
| Affiliate services |
RevenueFromContractWithCustomerIncludingAssessedTax
|
$189.40M | USD | 1 Quarter |
| Other income |
OtherIncome
|
$200.00K | USD | 1 Quarter |
| Other income |
OtherIncome
|
$200.00K | USD | 1 Quarter |
| Total revenues |
Revenues
|
$189.60M | USD | 1 Quarter |
| Total revenues |
Revenues
|
$290.80M | USD | 1 Quarter |
| Operating and maintenance expenses (exclusive of depreciation shown separately below) |
OperatingCostsAndExpenses
|
$91.90M | USD | 1 Quarter |
| Operating and maintenance expenses (exclusive of depreciation shown separately below) |
OperatingCostsAndExpenses
|
$54.30M | USD | 1 Quarter |
| Depreciation expense |
Depreciation
|
$38.50M | USD | 1 Quarter |
| Depreciation expense |
Depreciation
|
$33.60M | USD | 1 Quarter |
| General and administrative expenses |
GeneralAndAdministrativeExpense
|
$7.60M | USD | 1 Quarter |
| General and administrative expenses |
GeneralAndAdministrativeExpense
|
$5.90M | USD | 1 Quarter |
| Total costs and expenses |
CostsAndExpenses
|
$138.00M | USD | 1 Quarter |
| Total costs and expenses |
CostsAndExpenses
|
$93.80M | USD | 1 Quarter |
| Income from operations |
OperatingIncomeLoss
|
$95.80M | USD | 1 Quarter |
| Income from operations |
OperatingIncomeLoss
|
$152.80M | USD | 1 Quarter |
| Income from equity investments |
IncomeLossFromEquityMethodInvestments
|
$2.70M | USD | 1 Quarter |
| Interest expense, net |
InterestIncomeExpenseNonoperatingNet
|
$-15.00M | USD | 1 Quarter |
| Interest expense, net |
InterestIncomeExpenseNonoperatingNet
|
$-24.80M | USD | 1 Quarter |
| Income before income tax expense (benefit) |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$130.70M | USD | 1 Quarter |
| Income before income tax expense (benefit) |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$80.80M | USD | 1 Quarter |
| Income tax expense (benefit) |
IncomeTaxExpenseBenefit
|
$1.70M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$129.00M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$80.80M | USD | 1 Quarter |
| Less: Net income (loss) attributable to net parent investment |
NetIncomeLossAttributableToNetParentInvestment
|
$-14.50M | USD | 1 Quarter |
| Less: Net income (loss) attributable to noncontrolling interest |
NetIncomeLossAttributableToNoncontrollingInterest
|
$122.50M | USD | 1 Quarter |
| Less: Net income (loss) attributable to noncontrolling interest |
NetIncomeLossAttributableToNoncontrollingInterest
|
$77.20M | USD | 1 Quarter |
| Net income attributable to Hess Midstream LP |
NetIncomeLoss
|
$18.10M | USD | 1 Quarter |
| Net income attributable to Hess Midstream LP |
NetIncomeLoss
|
$6.50M | USD | 1 Quarter |
| Less: General partner's interest in net income |
NetIncomeLossAllocatedToGeneralPartners
|
$800.00K | USD | 1 Quarter |
| Limited partners' interest in net income |
NetIncomeLossAllocatedToLimitedPartners
|
$6.50M | USD | 1 Quarter |
| Limited partners' interest in net income |
NetIncomeLossAllocatedToLimitedPartners
|
$17.30M | USD | 1 Quarter |
Cash Flow Statement
54 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net income |
ProfitLoss
|
$129.00M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$80.80M | USD | 1 Quarter |
| Depreciation expense |
Depreciation
|
$38.50M | USD | 1 Quarter |
| Depreciation expense |
Depreciation
|
$33.60M | USD | 1 Quarter |
| (Gain) loss on interest rate swaps |
GainLossOnInterestRateSwaps
|
$200.00K | USD | 1 Quarter |
| (Gain) loss on interest rate swaps |
GainLossOnInterestRateSwaps
|
$200.00K | USD | 1 Quarter |
| (Income) loss from equity investments |
IncomeLossFromEquityMethodInvestments
|
$2.70M | USD | 1 Quarter |
| Amortization of deferred financing costs |
AmortizationOfFinancingCosts
|
$1.80M | USD | 1 Quarter |
| Amortization of deferred financing costs |
AmortizationOfFinancingCosts
|
$1.20M | USD | 1 Quarter |
| Equity-based compensation expense |
ShareBasedCompensation
|
$500.00K | USD | 1 Quarter |
| Equity-based compensation expense |
ShareBasedCompensation
|
$300.00K | USD | 1 Quarter |
| Deferred income tax expense (benefit) |
DeferredIncomeTaxExpenseBenefit
|
$1.70M | USD | 1 Quarter |
| Accounts receivable affiliate |
IncreaseDecreaseInDueFromAffiliatesCurrent
|
$19.10M | USD | 1 Quarter |
| Accounts receivable affiliate |
IncreaseDecreaseInDueFromAffiliatesCurrent
|
$100.00K | USD | 1 Quarter |
| Other current and noncurrent assets |
IncreaseDecreaseInOtherOperatingAssets
|
$200.00K | USD | 1 Quarter |
| Other current and noncurrent assets |
IncreaseDecreaseInOtherOperatingAssets
|
$-1.20M | USD | 1 Quarter |
| Accounts payable trade |
IncreaseDecreaseInAccountsPayableTrade
|
$-4.10M | USD | 1 Quarter |
| Accounts payable trade |
IncreaseDecreaseInAccountsPayableTrade
|
$7.30M | USD | 1 Quarter |
| Accounts payable affiliate |
IncreaseDecreaseInDueToAffiliatesCurrent
|
$-2.80M | USD | 1 Quarter |
| Accounts payable affiliate |
IncreaseDecreaseInDueToAffiliatesCurrent
|
$2.10M | USD | 1 Quarter |
| Accrued liabilities |
IncreaseDecreaseInAccruedLiabilities
|
$-9.20M | USD | 1 Quarter |
| Accrued liabilities |
IncreaseDecreaseInAccruedLiabilities
|
$-8.00M | USD | 1 Quarter |
| Other current and noncurrent liabilities |
IncreaseDecreaseInOtherOperatingLiabilities
|
$-3.60M | USD | 1 Quarter |
| Other current and noncurrent liabilities |
IncreaseDecreaseInOtherOperatingLiabilities
|
$-5.80M | USD | 1 Quarter |
| Net cash provided by (used in) operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$101.80M | USD | 1 Quarter |
| Net cash provided by (used in) operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$140.20M | USD | 1 Quarter |
| Additions to property, plant and equipment |
PaymentsToAcquirePropertyPlantAndEquipment
|
$78.10M | USD | 1 Quarter |
| Additions to property, plant and equipment |
PaymentsToAcquirePropertyPlantAndEquipment
|
$60.30M | USD | 1 Quarter |
| Acquisitions |
PaymentsToAcquireBusinessesNetOfCashAcquired
|
$89.20M | USD | 1 Quarter |
| Payments for equity investments |
PaymentsToAcquireEquityMethodInvestments
|
$7.00M | USD | 1 Quarter |
| Net cash provided by (used in) investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-225.40M | USD | 1 Quarter |
| Net cash provided by (used in) investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-78.10M | USD | 1 Quarter |
| Net proceeds from (repayments of) bank borrowings with maturities of 90 days or less |
ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess
|
$199.00M | USD | 1 Quarter |
| Net proceeds from (repayments of) bank borrowings with maturities of 90 days or less |
ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess
|
$60.00M | USD | 1 Quarter |
| Repayments of bank borrowings with maturities of greater than 90 days |
RepaymentsOfShortTermDebtMaturingInMoreThanThreeMonths
|
$2.50M | USD | 1 Quarter |
| Financing costs |
PaymentsOfFinancingCosts
|
$1.30M | USD | 1 Quarter |
| Distributions to shareholders/unitholders |
PaymentsOfDistributionToShareholdersUnitholders
|
$20.20M | USD | 1 Quarter |
| Distributions to shareholders/unitholders |
PaymentsOfDistributionToShareholdersUnitholders
|
$7.60M | USD | 1 Quarter |
| Distributions to noncontrolling interest |
PaymentsToMinorityShareholders
|
$113.40M | USD | 1 Quarter |
| Capital distribution to Hess associated with acquisitions |
PaymentsOfCapitalDistribution
|
$156.10M | USD | 1 Quarter |
| Net cash provided by (used in) financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$-62.30M | USD | 1 Quarter |
| Net cash provided by (used in) financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$20.20M | USD | 1 Quarter |
| Increase (decrease) in cash and cash equivalents |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
$-200.00K | USD | 1 Quarter |
| Increase (decrease) in cash and cash equivalents |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
$-103.40M | USD | 1 Quarter |
| Cash and cash equivalents, beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
$109.30M | USD | Point-in-time |
| Cash and cash equivalents, beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
$5.90M | USD | Point-in-time |
| Cash and cash equivalents, beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
$3.30M | USD | Point-in-time |
| Cash and cash equivalents, beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
$3.10M | USD | Point-in-time |
| Cash and cash equivalents, end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
$109.30M | USD | Point-in-time |
| Cash and cash equivalents, end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
$5.90M | USD | Point-in-time |
| Cash and cash equivalents, end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
$3.30M | USD | Point-in-time |
| Cash and cash equivalents, end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
$3.10M | USD | Point-in-time |
| (Increase) decrease in accrued capital expenditures and related liabilities |
IncreaseDecreaseInAccruedCapitalExpendituresAndRelatedLiabilities
|
$21.10M | USD | 1 Quarter |
| (Increase) decrease in accrued capital expenditures and related liabilities |
IncreaseDecreaseInAccruedCapitalExpendituresAndRelatedLiabilities
|
$32.90M | USD | 1 Quarter |
Stockholders Equity
19 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Distributions to unitholders - per unit |
DistributionMadeToLimitedPartnerDistributionsPaidPerUnit
|
$0.43 | USD | 1 Quarter |
| Distributions to unitholders - per unit |
DistributionMadeToLimitedPartnerDistributionsPaidPerUnit
|
$0.37 | USD | 1 Quarter |
| Balance, beginning of period |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$1.33B | USD | Point-in-time |
| Balance, beginning of period |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$1.88B | USD | Point-in-time |
| Balance, beginning of period |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$1.71B | USD | Point-in-time |
| Balance, beginning of period |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$1.34B | USD | Point-in-time |
| Net income |
ProfitLoss
|
$129.00M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$80.80M | USD | 1 Quarter |
| Equity-based compensation |
PartnersCapitalAccountUnitBasedCompensation
|
$300.00K | USD | 1 Quarter |
| Equity-based compensation |
PartnersCapitalAccountUnitBasedCompensation
|
$500.00K | USD | 1 Quarter |
| Distributions to unitholders |
LimitedPartnersCapitalAccountDistributionAmount
|
$20.20M | USD | 1 Quarter |
| Distributions to unitholders |
LimitedPartnersCapitalAccountDistributionAmount
|
$121.00M | USD | 1 Quarter |
| Other comprehensive income (loss) |
OtherComprehensiveIncomeLossNetOfTax
|
$-200.00K | USD | 1 Quarter |
| Other comprehensive income (loss) |
OtherComprehensiveIncomeLossNetOfTax
|
$-200.00K | USD | 1 Quarter |
| Acquisition of HessWater Services |
PartnersCapitalAccountAcquisitions
|
$-225.00M | USD | 1 Quarter |
| Balance, end of period |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$1.33B | USD | Point-in-time |
| Balance, end of period |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$1.88B | USD | Point-in-time |
| Balance, end of period |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$1.71B | USD | Point-in-time |
| Balance, end of period |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$1.34B | USD | Point-in-time |
Comprehensive Income
13 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net income |
ProfitLoss
|
$129.00M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$80.80M | USD | 1 Quarter |
| Effect of hedge (gains) losses reclassified to income |
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
|
$200.00K | USD | 1 Quarter |
| Effect of hedge (gains) losses reclassified to income |
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
|
$200.00K | USD | 1 Quarter |
| Total other comprehensive income |
OtherComprehensiveIncomeLossNetOfTax
|
$-200.00K | USD | 1 Quarter |
| Total other comprehensive income |
OtherComprehensiveIncomeLossNetOfTax
|
$-200.00K | USD | 1 Quarter |
| Comprehensive income |
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
$80.60M | USD | 1 Quarter |
| Comprehensive income |
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
$128.80M | USD | 1 Quarter |
| Less: Comprehensive income (loss) attributable to net parent investment |
ComprehensiveIncomeLossAttributableToNetParentInvestment
|
$14.70M | USD | 1 Quarter |
| Less: Comprehensive income (loss) attributable to noncontrolling interest |
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
$122.30M | USD | 1 Quarter |
| Less: Comprehensive income (loss) attributable to noncontrolling interest |
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
$77.20M | USD | 1 Quarter |
| Comprehensive income attributable to Hess Midstream LP |
ComprehensiveIncomeNetOfTax
|
$18.10M | USD | 1 Quarter |
| Comprehensive income attributable to Hess Midstream LP |
ComprehensiveIncomeNetOfTax
|
$6.50M | USD | 1 Quarter |
Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.