XML 39 R36.htm IDEA: XBRL DOCUMENT v3.20.1
Acquisitions - Consolidated Statements of Cash Flows (Detail) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities    
Net income $ 129.0 $ 80.8 [1]
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation expense 38.5 33.6 [1]
(Gain) loss on interest rate swaps (0.2) (0.2) [1]
Amortization of deferred financing costs 1.8 1.2 [1]
Unit-based compensation 0.5 0.3 [1]
Changes in assets and liabilities:    
Accounts receivable – affiliate (19.1) (0.1) [1]
Other current and noncurrent assets 1.2 (0.2) [1]
Accounts payable – trade 7.3 (4.1) [1]
Accounts payable – affiliate (2.8) 2.1 [1]
Accrued liabilities (9.2) (8.0) [1]
Other current and noncurrent liabilities (5.8) (3.6) [1]
Net cash provided by (used in) operating activities 140.2 101.8 [1]
Cash flows from investing activities    
Acquisitions [1]   (89.2)
Acquisitions from Hess   (68.9)
Payments for equity investments [1]   (7.0)
Additions to property, plant and equipment (78.1) (60.3) [1]
Net cash provided by (used in) investing activities (78.1) (225.4) [1]
Cash flows from financing activities    
Proceeds from (repayments of) bank borrowings - revolver   199.0
Repayments of bank borrowings - term loan   (2.5)
Distributions to shareholders/unitholders (7.6) (20.2) [1]
Distributions to noncontrolling interest (113.4)  
Capital distribution to Hess associated with acquisitions [1]   (156.1)
Net cash provided by (used in) financing activities (62.3) 20.2 [1]
Increase (decrease) in cash and cash equivalents (0.2) (103.4) [1]
Cash and cash equivalents, beginning of period 3.3 109.3 [1]
Cash and cash equivalents, end of period $ 3.1 5.9 [1]
Partnership as Previously Reported    
Cash flows from operating activities    
Net income   95.3
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation expense   32.6
Amortization of deferred financing costs   0.3
Unit-based compensation   0.3
Changes in assets and liabilities:    
Accounts receivable – affiliate   2.6
Other current and noncurrent assets   (0.4)
Accounts payable – trade   (3.4)
Accounts payable – affiliate   0.8
Accrued liabilities   1.6
Other current and noncurrent liabilities   (3.6)
Net cash provided by (used in) operating activities   126.1
Cash flows from investing activities    
Acquisitions   (61.0)
Payments for equity investments   (7.0)
Additions to property, plant and equipment   (59.5)
Net cash provided by (used in) investing activities   (127.5)
Cash flows from financing activities    
Proceeds from (repayments of) bank borrowings - revolver   7.0
Distributions to shareholders/unitholders   (20.2)
Distributions to general partner   (0.6)
Distributions to noncontrolling interest   (57.1)
Contributions from noncontrolling interest   55.5
Net cash provided by (used in) financing activities   (15.4)
Increase (decrease) in cash and cash equivalents   (16.8)
Cash and cash equivalents, beginning of period   20.3
Cash and cash equivalents, end of period   3.5
Restatement Adjustment | Acquisition of HIP    
Cash flows from operating activities    
Net income   (14.5)
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation expense   1.0
(Gain) loss on interest rate swaps   (0.2)
Amortization of deferred financing costs   0.9
Changes in assets and liabilities:    
Accounts receivable – affiliate   (2.7)
Other current and noncurrent assets   0.2
Accounts payable – trade   (0.7)
Accounts payable – affiliate   1.3
Accrued liabilities   (9.6)
Net cash provided by (used in) operating activities   (24.3)
Cash flows from investing activities    
Acquisitions   (28.2)
Acquisitions from Hess   (68.9)
Additions to property, plant and equipment   (0.8)
Net cash provided by (used in) investing activities   (97.9)
Cash flows from financing activities    
Proceeds from (repayments of) bank borrowings - revolver   192.0
Repayments of bank borrowings - term loan   (2.5)
Distributions to general partner   0.6
Distributions to noncontrolling interest   57.1
Capital distribution to Hess associated with acquisitions   (156.1)
Contributions from noncontrolling interest   (55.5)
Net cash provided by (used in) financing activities   35.6
Increase (decrease) in cash and cash equivalents   (86.6)
Cash and cash equivalents, beginning of period   89.0
Cash and cash equivalents, end of period   $ 2.4
[1] The financial information presented in this report has been retrospectively adjusted for the acquisition of Hess Infrastructure Partners LP.