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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - 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]
(Income) loss from equity investments (2.7)  
Amortization of deferred financing costs 1.8 1.2 [1]
Equity-based compensation expense 0.5 0.3 [1]
Deferred income tax expense (benefit) 1.7  
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    
Additions to property, plant and equipment (78.1) (60.3) [1]
Acquisitions [1]   (89.2)
Payments for equity investments [1]   (7.0)
Net cash provided by (used in) investing activities (78.1) (225.4) [1]
Cash flows from financing activities    
Net proceeds from (repayments of) bank borrowings with maturities of 90 days or less 60.0 199.0 [1]
Repayments of bank borrowings with maturities of greater than 90 days [1]   (2.5)
Financing costs (1.3)  
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]
Supplemental disclosure of non-cash investing and financing activities:    
(Increase) decrease in accrued capital expenditures and related liabilities $ 21.1 32.9 [1]
Hess    
Cash flows from investing activities    
Acquisitions [1]   $ (68.9)
[1] The financial information presented in this report has been retrospectively adjusted for the acquisition of Hess Infrastructure Partners LP.