XML 29 R18.htm IDEA: XBRL DOCUMENT
v3.20.2

Earnings per Share/Limited Partner Unit | 9 Months Ended
--- | ---
Sep. 30, 2020
Earnings Per Share [Abstract] |
Earnings per Share/Limited Partner Unit | Note 10. Earnings per Share/Limited Partner Unit Earnings per limited partner unit prior to the Restructuring on December 16, 2019, were computed by dividing the respective limited partners’ interest in net income attributable to Hess Midstream Partners LP by the weighted average number of common and subordinated units outstanding. Because we had more than one class of participating securities, we used the two‑class method when calculating earnings per limited partner unit. The classes of participating securities included common units, subordinated units, general partner interest and incentive distribution rights. Our net income includes earnings related to businesses acquired through transactions between entities under common control for periods prior to their acquisition by us. We have allocated these pre-acquisition earnings to Net income attributable to net parent investment. Subsequent to the Restructuring, we calculate earnings per Class A Share and we do not have any other participating securities. Approximately 100% of income tax expense is attributed to earnings of Class A Shares. Class B Units of the Partnership together with the equal number of Class B Shares of the Company are convertible to Class A Shares of the Company on a one-for-one basis. In addition, our restricted equity-based awards may have a dilutive effect on our earnings per share. Diluted earnings per Class A Share are calculated using the “treasury stock method” or “if-converted method”, whichever is more dilutive.
| Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
(in millions, except per share amounts) | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Net income | $ | 115.8 |  |  | $ | 87.4 |  |  | $ | 352.6 |  |  | $ | 242.6 |
Less: Net income attributable to net parent investment |  | - |  |  |  | (13.0 | ) |  |  | - |  |  |  | (44.0 | )
Less: Net income attributable to noncontrolling interest |  | 110.2 |  |  | 81.3 |  |  |  | 335.2 |  |  | 232.6 |
Net income attributable to Hess Midstream LP |  | 5.6 |  |  |  | 19.1 |  |  |  | 17.4 |  |  |  | 54.0 |
Less: General partner's interest in net income prior to the Restructuring |  | - |  |  |  | 1.3 |  |  |  | - |  |  |  | 3.1 |
Limited partners' interest in net income | $ | 5.6 |  |  | $ | 17.8 |  |  | $ | 17.4 |  |  | $ | 50.9 |
Common unitholders' interest in net income attributable to Hess Midstream LP |  |  |  |  | $ | 8.9 |  |  |  |  |  |  | $ | 25.5 |
Subordinated unitholders' interest in net income attributable to Hess Midstream LP |  |  |  |  | $ | 8.9 |  |  |  |  |  |  | $ | 25.4 |
Net income attributable to Hess Midstream LP per Class A share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic: | $ | 0.31 |  |  |  |  |  |  | $ | 0.97 |  |  |  |  |
Diluted: | $ | 0.31 |  |  |  |  |  |  | $ | 0.95 |  |  |  |  |
Net income attributable to Hess Midstream LP per limited partner unit (basic and diluted): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common |  |  |  |  | $ | 0.33 |  |  |  |  |  |  | $ | 0.93 |
Subordinated |  |  |  |  | $ | 0.33 |  |  |  |  |  |  | $ | 0.93 |
Weighted average Class A shares outstanding subsequent to the Restructuring: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic: |  | 18.0 |  |  |  |  |  |  |  | 18.0 |  |  |  |  |
Diluted: |  | 18.1 |  |  |  |  |  |  |  | 18.1 |  |  |  |  |
Weighted average limited partner units outstanding prior to the Restructuring |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common |  |  |  |  |  | 27.3 |  |  |  |  |  |  |  | 27.3 |
Subordinated |  |  |  |  |  | 27.3 |  |  |  |  |  |  |  | 27.3 |
Diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common |  |  |  |  |  | 27.5 |  |  |  |  |  |  |  | 27.5 |
Subordinated |  |  |  |  |  | 27.3 |  |  |  |  |  |  |  | 27.3 |
For the three and nine months ended September 30, 2020, the weighted average number of Class A shares outstanding included 98,306 and 76,198 dilutive restricted shares, respectively. For the three and nine months ended September 30, 2019, the weighted average number of common units outstanding included 140,197 and 135,060 dilutive restricted units, respectively.

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration