10-Q Filing
Filing Information
| Form Type | 10-Q |
| Accession Number | 0001564590-21-024987 |
| Period End Date | 20210331 |
| Filing Date | 20210506 |
| Fiscal Year | 2021 |
| Fiscal Period | Q1 |
| XBRL Instance | hesm-10q_20210331_htm.xml |
Filing Contents
This filing contains the following financial statements:
Balance Sheet
48 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$2.60M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$1.50M | USD | Point-in-time |
| From contracts with customers |
AccountsReceivableRelatedPartiesCurrent
|
$108.10M | USD | Point-in-time |
| From contracts with customers |
AccountsReceivableRelatedPartiesCurrent
|
$93.20M | USD | Point-in-time |
| Other current assets |
OtherAssetsCurrent
|
$4.20M | USD | Point-in-time |
| Other current assets |
OtherAssetsCurrent
|
$5.60M | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$101.40M | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$113.80M | USD | Point-in-time |
| Equity investments |
EquityMethodInvestments
|
$108.40M | USD | Point-in-time |
| Equity investments |
EquityMethodInvestments
|
$103.60M | USD | Point-in-time |
| Property, plant and equipment, net |
PropertyPlantAndEquipmentNet
|
$3.11B | USD | Point-in-time |
| Property, plant and equipment, net |
PropertyPlantAndEquipmentNet
|
$3.09B | USD | Point-in-time |
| Long-term receivableaffiliate |
AdvancesToAffiliate
|
$900.00K | USD | Point-in-time |
| Long-term receivableaffiliate |
AdvancesToAffiliate
|
$900.00K | USD | Point-in-time |
| Deferred tax asset |
DeferredIncomeTaxAssetsNet
|
$42.50M | USD | Point-in-time |
| Deferred tax asset |
DeferredIncomeTaxAssetsNet
|
$66.40M | USD | Point-in-time |
| Other noncurrent assets |
OtherAssetsNoncurrent
|
$10.00M | USD | Point-in-time |
| Other noncurrent assets |
OtherAssetsNoncurrent
|
$9.40M | USD | Point-in-time |
| Total assets |
Assets
|
$3.37B | USD | Point-in-time |
| Total assets |
Assets
|
$3.39B | USD | Point-in-time |
| Accounts payabletrade |
AccountsPayableTradeCurrent
|
$20.30M | USD | Point-in-time |
| Accounts payabletrade |
AccountsPayableTradeCurrent
|
$30.00M | USD | Point-in-time |
| Accounts payableaffiliate |
AccountsPayableRelatedPartiesCurrent
|
$18.60M | USD | Point-in-time |
| Accounts payableaffiliate |
AccountsPayableRelatedPartiesCurrent
|
$21.00M | USD | Point-in-time |
| Accrued liabilities |
AccruedLiabilitiesCurrent
|
$54.10M | USD | Point-in-time |
| Accrued liabilities |
AccruedLiabilitiesCurrent
|
$40.20M | USD | Point-in-time |
| Current maturities of long-term debt |
LongTermDebtCurrent
|
$10.00M | USD | Point-in-time |
| Current maturities of long-term debt |
LongTermDebtCurrent
|
$12.50M | USD | Point-in-time |
| Other current liabilities |
OtherLiabilitiesCurrent
|
$2.70M | USD | Point-in-time |
| Other current liabilities |
OtherLiabilitiesCurrent
|
$9.90M | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$125.00M | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$94.30M | USD | Point-in-time |
| Long-term debt |
LongTermDebtNoncurrent
|
$1.89B | USD | Point-in-time |
| Long-term debt |
LongTermDebtNoncurrent
|
$1.90B | USD | Point-in-time |
| Other noncurrent liabilities |
OtherLiabilitiesNoncurrent
|
$23.40M | USD | Point-in-time |
| Other noncurrent liabilities |
OtherLiabilitiesNoncurrent
|
$23.00M | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$2.00B | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$2.05B | USD | Point-in-time |
| Total partners' capital |
PartnersCapitalExcludingAccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$125.00M | USD | Point-in-time |
| Total partners' capital |
PartnersCapitalExcludingAccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$184.00M | USD | Point-in-time |
| Noncontrolling interest |
PartnersCapitalAttributableToNoncontrollingInterest
|
$1.20B | USD | Point-in-time |
| Noncontrolling interest |
PartnersCapitalAttributableToNoncontrollingInterest
|
$1.20B | USD | Point-in-time |
| Total partners' capital |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$1.39B | USD | Point-in-time |
| Total partners' capital |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$1.34B | USD | Point-in-time |
| Total partners' capital |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$1.33B | USD | Point-in-time |
| Total partners' capital |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$1.33B | USD | Point-in-time |
| Total liabilities and partners' capital |
LiabilitiesAndStockholdersEquity
|
$3.37B | USD | Point-in-time |
| Total liabilities and partners' capital |
LiabilitiesAndStockholdersEquity
|
$3.39B | USD | Point-in-time |
Income Statement
29 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Affiliate services |
RevenueFromContractWithCustomerIncludingAssessedTax
|
$290.60M | USD | 1 Quarter |
| Affiliate services |
RevenueFromContractWithCustomerIncludingAssessedTax
|
$288.80M | USD | 1 Quarter |
| Other income |
OtherIncome
|
$200.00K | USD | 1 Quarter |
| Total revenues |
Revenues
|
$288.80M | USD | 1 Quarter |
| Total revenues |
Revenues
|
$290.80M | 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
|
$91.90M | USD | 1 Quarter |
| Depreciation expense |
Depreciation
|
$38.50M | USD | 1 Quarter |
| Depreciation expense |
Depreciation
|
$40.20M | USD | 1 Quarter |
| General and administrative expenses |
GeneralAndAdministrativeExpense
|
$6.30M | USD | 1 Quarter |
| General and administrative expenses |
GeneralAndAdministrativeExpense
|
$7.60M | USD | 1 Quarter |
| Total costs and expenses |
CostsAndExpenses
|
$138.00M | 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
|
$152.80M | USD | 1 Quarter |
| Income from equity investments |
IncomeLossFromEquityMethodInvestments
|
$2.70M | USD | 1 Quarter |
| Income from equity investments |
IncomeLossFromEquityMethodInvestments
|
$2.70M | USD | 1 Quarter |
| Interest expense, net |
InterestIncomeExpenseNonoperatingNet
|
$-24.80M | USD | 1 Quarter |
| Interest expense, net |
InterestIncomeExpenseNonoperatingNet
|
$-23.10M | USD | 1 Quarter |
| Income before income tax expense |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$162.10M | USD | 1 Quarter |
| Income before income tax expense |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$130.70M | USD | 1 Quarter |
| Income tax expense |
IncomeTaxExpenseBenefit
|
$1.70M | USD | 1 Quarter |
| Income tax expense |
IncomeTaxExpenseBenefit
|
$2.50M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$159.60M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$129.00M | USD | 1 Quarter |
| Less: Net income attributable to noncontrolling interest |
NetIncomeLossAttributableToNoncontrollingInterest
|
$151.00M | USD | 1 Quarter |
| Less: Net income attributable to noncontrolling interest |
NetIncomeLossAttributableToNoncontrollingInterest
|
$122.50M | USD | 1 Quarter |
| Net income attributable to Hess Midstream LP |
NetIncomeLoss
|
$8.60M | USD | 1 Quarter |
| Net income attributable to Hess Midstream LP |
NetIncomeLoss
|
$6.50M | 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
|
$129.00M | USD | 1 Quarter |
| Depreciation expense |
Depreciation
|
$38.50M | USD | 1 Quarter |
| Depreciation expense |
Depreciation
|
$40.20M | 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 |
| (Income) loss from equity investments |
IncomeLossFromEquityMethodInvestments
|
$2.70M | USD | 1 Quarter |
| Distributions from equity investments |
EquityMethodInvestmentDividendsOrDistributions
|
$7.50M | USD | 1 Quarter |
| Amortization of deferred financing costs |
AmortizationOfFinancingCosts
|
$1.70M | USD | 1 Quarter |
| Amortization of deferred financing costs |
AmortizationOfFinancingCosts
|
$1.80M | USD | 1 Quarter |
| Equity-based compensation expense |
ShareBasedCompensation
|
$400.00K | USD | 1 Quarter |
| Equity-based compensation expense |
ShareBasedCompensation
|
$500.00K | USD | 1 Quarter |
| Deferred income tax expense (benefit) |
DeferredIncomeTaxExpenseBenefit
|
$1.70M | 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
|
$19.10M | USD | 1 Quarter |
| Other current and noncurrent assets |
IncreaseDecreaseInOtherOperatingAssets
|
$-1.40M | USD | 1 Quarter |
| Other current and noncurrent assets |
IncreaseDecreaseInOtherOperatingAssets
|
$-1.20M | USD | 1 Quarter |
| Accounts payable trade |
IncreaseDecreaseInAccountsPayableTrade
|
$-9.70M | 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
|
$-1.90M | USD | 1 Quarter |
| Accrued liabilities |
IncreaseDecreaseInAccruedLiabilities
|
$-10.80M | USD | 1 Quarter |
| Accrued liabilities |
IncreaseDecreaseInAccruedLiabilities
|
$-9.20M | USD | 1 Quarter |
| Other current and noncurrent liabilities |
IncreaseDecreaseInOtherOperatingLiabilities
|
$-7.90M | USD | 1 Quarter |
| Other current and noncurrent liabilities |
IncreaseDecreaseInOtherOperatingLiabilities
|
$-5.80M | USD | 1 Quarter |
| Net cash provided by (used in) operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$165.40M | USD | 1 Quarter |
| Net cash provided by (used in) operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$140.20M | USD | 1 Quarter |
| Additions to property, plant and equipment |
PaymentsToAcquirePropertyPlantAndEquipment
|
$26.70M | USD | 1 Quarter |
| Additions to property, plant and equipment |
PaymentsToAcquirePropertyPlantAndEquipment
|
$78.10M | USD | 1 Quarter |
| Net cash provided by (used in) investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-78.10M | 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
|
$60.00M | USD | 1 Quarter |
| Repayments |
RepaymentsOfShortTermDebtMaturingInMoreThanThreeMonths
|
$2.50M | USD | 1 Quarter |
| Financing costs |
PaymentsOfFinancingCosts
|
$1.30M | USD | 1 Quarter |
| Distributions to shareholders |
PaymentsOfCapitalDistribution
|
$7.60M | USD | 1 Quarter |
| Distributions to shareholders |
PaymentsOfCapitalDistribution
|
$8.20M | USD | 1 Quarter |
| Distributions to noncontrolling interest |
PaymentsToMinorityShareholders
|
$113.40M | USD | 1 Quarter |
| Distributions to noncontrolling interest |
PaymentsToMinorityShareholders
|
$119.10M | USD | 1 Quarter |
| Net cash provided by (used in) financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$-139.80M | USD | 1 Quarter |
| Net cash provided by (used in) financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$-62.30M | USD | 1 Quarter |
| Increase (decrease) in cash and cash equivalents |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
$-200.00K | USD | 1 Quarter |
| Increase (decrease) in cash and cash equivalents |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
$-1.10M | 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
|
$1.50M | 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
|
$3.30M | 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
|
$1.50M | 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
|
$3.30M | 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
|
$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
|
$0.45 | USD | 1 Quarter |
| Distributions to unitholders - per share |
DistributionMadeToLimitedPartnerDistributionsPaidPerUnit
|
$0.43 | USD | 1 Quarter |
| Balance, beginning of period |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$1.39B | USD | Point-in-time |
| Balance, beginning of period |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$1.34B | USD | Point-in-time |
| Balance, beginning of period |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$1.33B | USD | Point-in-time |
| Balance, beginning of period |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$1.33B | USD | Point-in-time |
| Net income |
ProfitLoss
|
$159.60M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$129.00M | USD | 1 Quarter |
| Equity-based compensation |
PartnersCapitalAccountUnitBasedCompensation
|
$500.00K | USD | 1 Quarter |
| Equity-based compensation |
PartnersCapitalAccountUnitBasedCompensation
|
$400.00K | USD | 1 Quarter |
| Distributions to unitholders |
LimitedPartnersCapitalAccountDistributionAmount
|
$121.00M | USD | 1 Quarter |
| Distributions to unitholders |
LimitedPartnersCapitalAccountDistributionAmount
|
$127.30M | USD | 1 Quarter |
| Other comprehensive income (loss) |
OtherComprehensiveIncomeLossNetOfTax
|
$-200.00K | 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
|
$1.34B | USD | Point-in-time |
| Balance, end of period |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$1.33B | USD | Point-in-time |
| Balance, end of period |
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
$1.33B | USD | Point-in-time |
Comprehensive Income
10 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net income |
ProfitLoss
|
$159.60M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$129.00M | 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 |
| Comprehensive income |
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
$159.60M | USD | 1 Quarter |
| Comprehensive income |
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
$128.80M | USD | 1 Quarter |
| Less: Comprehensive income (loss) attributable to noncontrolling interest |
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
$151.00M | USD | 1 Quarter |
| Less: Comprehensive income (loss) attributable to noncontrolling interest |
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
$122.30M | USD | 1 Quarter |
| Comprehensive income attributable to Hess Midstream LP |
ComprehensiveIncomeNetOfTax
|
$6.50M | USD | 1 Quarter |
| Comprehensive income attributable to Hess Midstream LP |
ComprehensiveIncomeNetOfTax
|
$8.60M | USD | 1 Quarter |
Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.