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v3.20.2

Segments (Tables) | 6 Months Ended
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Jun. 30, 2020
Segment Reporting [Abstract] |
Financial Data for Each Reportable Segment | The following tables reflect certain financial data for each reportable segment:
|  | Gathering |  |  | Processing and Storage |  |  | Terminaling and Export |  |  | Interest and Other |  |  | Consolidated |
(in millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
For the Three Months Ended June 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues and other income |  | $ | 136.4 |  |  | $ | 86.8 |  |  | $ | 46.6 |  |  | $ | - |  |  | $ | 269.8 |
Net income (loss) |  |  | 71.7 |  |  |  | 45.8 |  |  |  | 15.9 |  |  |  | (25.6 | ) |  |  | 107.8 |
Net income (loss) attributable to Hess Midstream LP |  |  | 4.6 |  |  |  | 2.8 |  |  |  | 1.0 |  |  |  | (3.1 | ) |  |  | 5.3 |
Depreciation expense |  |  | 23.7 |  |  |  | 11.2 |  |  |  | 4.0 |  |  |  | - |  |  |  | 38.9 |
Proportional share of equity affiliates' depreciation |  |  | - |  |  |  | 1.2 |  |  |  | - |  |  |  | - |  |  |  | 1.2 |
Income from equity investments |  |  | - |  |  |  | 0.9 |  |  |  | - |  |  |  | - |  |  |  | 0.9 |
Interest expense, net |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 23.3 |  |  |  | 23.3 |
Income tax expense (benefit) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1.7 |  |  |  | 1.7 |
Gain on sale of property, plant and equipment |  |  | 0.1 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 0.1 |
Adjusted EBITDA |  |  | 95.3 |  |  |  | 58.2 |  |  |  | 19.9 |  |  |  | (0.6 | ) |  |  | 172.8 |
Capital expenditures* |  |  | 25.9 |  |  |  | 52.7 |  |  |  | 0.2 |  |  |  | - |  |  |  | 78.8 |
|  | Gathering |  |  | Processing and Storage |  |  | Terminaling and Export |  |  | Interest and Other |  |  | Consolidated |
(in millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
For the Three Months Ended June 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues and other income |  | $ | 97.7 |  |  | $ | 67.5 |  |  | $ | 25.1 |  |  | $ | - |  |  | $ | 190.3 |
Net income (loss) |  |  | 41.8 |  |  |  | 40.3 |  |  |  | 11.7 |  |  |  | (19.4 | ) |  |  | 74.4 |
Net income (loss) attributable to Hess Midstream LP |  |  | 8.1 |  |  |  | 8.0 |  |  |  | 2.5 |  |  |  | (1.8 | ) |  |  | 16.8 |
Depreciation expense |  |  | 20.3 |  |  |  | 11.1 |  |  |  | 4.0 |  |  |  | - |  |  |  | 35.4 |
Interest expense, net |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 16.8 |  |  |  | 16.8 |
Adjusted EBITDA |  |  | 62.1 |  |  |  | 51.4 |  |  |  | 15.7 |  |  |  | (2.6 | ) |  |  | 126.6 |
Capital expenditures* |  |  | 61.6 |  |  |  | 7.6 |  |  |  | - |  |  |  | - |  |  |  | 69.2 |
|  | Gathering |  |  | Processing and Storage |  |  | Terminaling and Export |  |  | Interest and Other |  |  | Consolidated |
(in millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
For the Six Months Ended June 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues and other income |  | $ | 278.0 |  |  | $ | 183.8 |  |  | $ | 98.8 |  |  | $ | - |  |  | $ | 560.6 |
Net income (loss) |  |  | 147.6 |  |  |  | 108.5 |  |  |  | 36.6 |  |  |  | (55.9 | ) |  |  | 236.8 |
Net income (loss) attributable to Hess Midstream LP |  |  | 9.4 |  |  |  | 6.8 |  |  |  | 2.3 |  |  |  | (6.7 | ) |  |  | 11.8 |
Depreciation expense |  |  | 47.0 |  |  |  | 22.4 |  |  |  | 8.0 |  |  |  | - |  |  |  | 77.4 |
Proportional share of equity affiliates' depreciation |  |  | - |  |  |  | 2.5 |  |  |  | - |  |  |  | - |  |  |  | 2.5 |
Income from equity investments |  |  | - |  |  |  | 3.6 |  |  |  | - |  |  |  | - |  |  |  | 3.6 |
Interest expense, net |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 48.1 |  |  |  | 48.1 |
Income tax expense (benefit) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 3.4 |  |  |  | 3.4 |
Gain on sale of property, plant and equipment |  |  | 0.1 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 0.1 |
Adjusted EBITDA |  |  | 194.5 |  |  |  | 133.4 |  |  |  | 44.6 |  |  |  | (4.4 | ) |  |  | 368.1 |
Capital expenditures* |  |  | 41.7 |  |  |  | 93.8 |  |  |  | 0.3 |  |  |  | - |  |  |  | 135.8 |
|  | Gathering |  |  | Processing and Storage |  |  | Terminaling and Export |  |  | Interest and Other |  |  | Consolidated |
(in millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
For the Six Months Ended June 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues and other income |  | $ | 192.1 |  |  | $ | 134.0 |  |  | $ | 53.8 |  |  | $ | - |  |  | $ | 379.9 |
Net income (loss) |  |  | 86.0 |  |  |  | 81.4 |  |  |  | 24.5 |  |  |  | (36.7 | ) |  |  | 155.2 |
Net income (loss) attributable to Hess Midstream LP |  |  | 16.7 |  |  |  | 16.6 |  |  |  | 5.0 |  |  |  | (3.4 | ) |  |  | 34.9 |
Depreciation expense |  |  | 38.7 |  |  |  | 22.3 |  |  |  | 8.0 |  |  |  | - |  |  |  | 69.0 |
Interest expense, net |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 31.8 |  |  |  | 31.8 |
Adjusted EBITDA |  |  | 124.7 |  |  |  | 103.7 |  |  |  | 32.5 |  |  |  | (4.9 | ) |  |  | 256.0 |
Capital expenditures* |  |  | 187.4 |  |  |  | 8.7 |  |  |  | (0.3 | ) |  |  | - |  |  |  | 195.8 |
*Includes acquisition, expansion and maintenance capital expenditures.
Total Assets for Reportable Segments | Total assets for the reportable segments are as follows:
|  | June 30, 2020 |  |  | December 31, 2019 |
(in millions) |  |  |  |  |  |  |  |
Gathering |  | $ | 1,839.4 |  |  | $ | 1,844.9 |
Processing and Storage(1) |  |  | 1,122.7 |  |  |  | 1,055.1 |
Terminaling and Export |  |  | 300.5 |  |  |  | 310.7 |
Interest and Other |  |  | 61.0 |  |  |  | 67.0 |
Total assets |  | $ | 3,323.6 |  |  | $ | 3,277.7 |
(1) | Includes investment in equity investees of $107.6 million as of June 30, 2020 and $107.8 as of December 31, 2019.

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