XML 35 R24.htm IDEA: XBRL DOCUMENT
v3.20.2

Acquisitions (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2020
Business Combinations [Abstract] |
Consolidated Statements of Operations | Consolidated Statement of Operations
|  | Three Months Ended September 30, 2019 |
|  | Partnership as Previously Reported |  |  | Acquisition of HIP |  |  | Consolidated Results |
(in millions) |  |  |  |  |  |  |  |  |  |  |  |
Revenues and other income |  |  |  |  |  |  |  |  |  |  |  |
Affiliate services |  | $ | 195.4 |  |  | $ | 19.5 |  |  | $ | 214.9 |
Total revenues and other income |  |  | 195.4 |  |  |  | 19.5 |  |  |  | 214.9 |
Costs and expenses |  |  |  |  |  |  |  |  |  |  |  |
Operating and maintenance expenses (exclusive of depreciation shown separately below) |  |  | 56.5 |  |  |  | 15.4 |  |  |  | 71.9 |
Depreciation expense |  |  | 34.5 |  |  |  | 1.5 |  |  |  | 36.0 |
General and administrative expenses |  |  | 3.9 |  |  |  | 3.8 |  |  |  | 7.7 |
Total costs and expenses |  |  | 94.9 |  |  |  | 20.7 |  |  |  | 115.6 |
Income from operations |  |  | 100.5 |  |  |  | (1.2 | ) |  |  | 99.3 |
Earnings from equity investments |  |  | 0.5 |  |  |  | - |  |  |  | 0.5 |
Interest expense, net |  |  | 0.6 |  |  |  | 11.8 |  |  |  | 12.4 |
Net income |  |  | 100.4 |  |  |  | (13.0 | ) |  |  | 87.4 |
Less: Net income (loss) attributable to net parent investment |  |  | - |  |  |  | (13.0 | ) |  |  | (13.0 | )
Less: Net income attributable to noncontrolling interest |  |  | 81.3 |  |  |  | - |  |  |  | 81.3 |
Net income attributable to Hess Midstream Partners LP |  |  | 19.1 |  |  |  | - |  |  |  | 19.1 |
Less: General partner's interest in net income attributable to Hess Midstream Partners LP |  |  | 1.3 |  |  |  | - |  |  |  | 1.3 |
Limited partners' interest in net income attributable to Hess Midstream Partners LP |  | $ | 17.8 |  |  | $ | - |  |  | $ | 17.8 |
Net income attributable to Hess Midstream Partners LP per limited partner unit (basic and diluted): |  |  |  |  |  |  |  |  |  |  |  |
Common |  | $ | 0.33 |  |  | $ | - |  |  | $ | 0.33 |
Subordinated |  | $ | 0.33 |  |  | $ | - |  |  | $ | 0.33 |
Weighted average limited partner units outstanding: |  |  |  |  |  |  |  |  |  |  |  |
Basic: |  |  |  |  |  |  |  |  |  |  |  |
Common |  |  | 27.3 |  |  |  | - |  |  |  | 27.3 |
Subordinated |  |  | 27.3 |  |  |  | - |  |  |  | 27.3 |
Diluted: |  |  |  |  |  |  |  |  |  |  |  |
Common |  |  | 27.5 |  |  |  | - |  |  |  | 27.5 |
Subordinated |  |  | 27.3 |  |  |  | - |  |  |  | 27.3 |
|  | Nine Months Ended September 30, 2019 |
|  | Partnership as Previously Reported |  |  | Acquisition of HIP |  |  | Consolidated Results |
(in millions) |  |  |  |  |  |  |  |  |  |  |  |
Revenues and other income |  |  |  |  |  |  |  |  |  |  |  |
Affiliate services |  | $ | 542.1 |  |  | $ | 52.4 |  |  | $ | 594.5 |
Other income |  |  | 0.3 |  |  |  | - |  |  |  | 0.3 |
Total revenues and other income |  |  | 542.4 |  |  |  | 52.4 |  |  |  | 594.8 |
Costs and expenses |  |  |  |  |  |  |  |  |  |  |  |
Operating and maintenance expenses (exclusive of depreciation shown separately below) |  |  | 142.0 |  |  |  | 42.1 |  |  |  | 184.1 |
Depreciation expense |  |  | 101.1 |  |  |  | 3.9 |  |  |  | 105.0 |
General and administrative expenses |  |  | 11.6 |  |  |  | 7.8 |  |  |  | 19.4 |
Total costs and expenses |  |  | 254.7 |  |  |  | 53.8 |  |  |  | 308.5 |
Income from operations |  |  | 287.7 |  |  |  | (1.4 | ) |  |  | 286.3 |
Earnings from equity investments |  |  | 0.5 |  |  |  | - |  |  |  | 0.5 |
Interest expense, net |  |  | 1.6 |  |  |  | 42.6 |  |  |  | 44.2 |
Net income |  |  | 286.6 |  |  |  | (44.0 | ) |  |  | 242.6 |
Less: Net income (loss) attributable to net parent investment |  |  | - |  |  |  | (44.0 | ) |  |  | (44.0 | )
Less: Net income attributable to noncontrolling interest |  |  | 232.6 |  |  |  | - |  |  |  | 232.6 |
Net income attributable to Hess Midstream Partners LP |  |  | 54.0 |  |  |  | - |  |  |  | 54.0 |
Less: General partner's interest in net income attributable to Hess Midstream Partners LP |  |  | 3.1 |  |  |  | - |  |  |  | 3.1 |
Limited partners' interest in net income attributable to Hess Midstream Partners LP |  | $ | 50.9 |  |  | $ | - |  |  | $ | 50.9 |
Net income attributable to Hess Midstream Partners LP per limited partner unit (basic and diluted): |  |  |  |  |  |  |  |  |  |  |  |
Common |  | $ | 0.93 |  |  | $ | - |  |  | $ | 0.93 |
Subordinated |  | $ | 0.93 |  |  | $ | - |  |  | $ | 0.93 |
Weighted average limited partner units outstanding: |  |  |  |  |  |  |  |  |  |  |  |
Basic: |  |  |  |  |  |  |  |  |  |  |  |
Common |  |  | 27.3 |  |  |  | - |  |  |  | 27.3 |
Subordinated |  |  | 27.3 |  |  |  | - |  |  |  | 27.3 |
Diluted: |  |  |  |  |  |  |  |  |  |  |  |
Common |  |  | 27.5 |  |  |  | - |  |  |  | 27.5 |
Subordinated |  |  | 27.3 |  |  |  | - |  |  |  | 27.3 |
Consolidated Statements of Cash Flows | Consolidated Statement of Cash Flows
|  | Nine Months Ended September 30, 2019 |
|  | Partnership as Previously Reported |  |  | Acquisition of HIP |  |  | Consolidated Results |
(in millions) |  |  |  |  |  |  |  |  |  |  |  |
Cash flows from operating activities |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 286.6 |  |  | $ | (44.0 | ) |  | $ | 242.6 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Depreciation expense |  |  | 101.1 |  |  |  | 3.9 |  |  |  | 105.0 |
(Gain) loss on interest rate swaps |  |  | - |  |  |  | (0.6 | ) |  |  | (0.6 | )
Earnings from equity investments |  |  | (0.5 | ) |  |  | - |  |  |  | (0.5 | )
(Increase) decrease in capitalized interest |  |  | - |  |  |  | (4.1 | ) |  |  | (4.1 | )
Amortization of deferred financing costs |  |  | 0.9 |  |  |  | 2.9 |  |  |  | 3.8 |
Equity-based compensation |  |  | 1.1 |  |  |  | - |  |  |  | 1.1 |
Changes in assets and liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Accounts receivable—affiliate |  |  | (5.2 | ) |  |  | (2.4 | ) |  |  | (7.6 | )
Other current and noncurrent assets |  |  | (5.0 | ) |  |  | 0.3 |  |  |  | (4.7 | )
Accounts payable—trade |  |  | 2.2 |  |  |  | 1.5 |  |  |  | 3.7 |
Accounts payable—affiliate |  |  | 4.3 |  |  |  | (5.8 | ) |  |  | (1.5 | )
Accrued liabilities |  |  | 9.2 |  |  |  | (9.2 | ) |  |  | - |
Other current and noncurrent liabilities |  |  | (2.5 | ) |  |  | (0.3 | ) |  |  | (2.8 | )
Net cash provided by (used in) operating activities |  |  | 392.2 |  |  |  | (57.8 | ) |  |  | 334.4 |
Cash flows from investing activities |  |  |  |  |  |  |  |  |  |  |  |
Payments for equity investments |  |  | (33.0 | ) |  |  | - |  |  |  | (33.0 | )
Acquisitions from Hess |  |  | - |  |  |  | (68.9 | ) |  |  | (68.9 | )
Acquisitions from third parties, net of cash acquired |  |  | (61.0 | ) |  |  | (28.2 | ) |  |  | (89.2 | )
Additions to property, plant and equipment |  |  | (184.4 | ) |  |  | (10.5 | ) |  |  | (194.9 | )
Net cash provided by (used in) investing activities |  |  | (278.4 | ) |  |  | (107.6 | ) |  |  | (386.0 | )
Cash flows from financing activities |  |  |  |  |  |  |  |  |  |  |  |
Net proceeds from (repayments of) bank borrowings with maturities of 90 days or less |  |  | 11.0 |  |  |  | 165.0 |  |  |  | 176.0 |
Repayments of bank borrowings with maturities of greater than 90 days |  |  | - |  |  |  | (7.5 | ) |  |  | (7.5 | )
Capital distribution to Hess associated with acquisitions |  |  | - |  |  |  | (156.1 | ) |  |  | (156.1 | )
Distributions to unitholders |  |  | (63.0 | ) |  |  | - |  |  |  | (63.0 | )
Distributions to general partner |  |  | (2.5 | ) |  |  | 2.5 |  |  |  | - |
Distributions to noncontrolling interest |  |  | (152.4 | ) |  |  | 152.4 |  |  |  | - |
Contributions from noncontrolling interest |  |  | 76.3 |  |  |  | (76.3 | ) |  |  | - |
Net cash provided by (used in) financing activities |  |  | (130.6 | ) |  |  | 80.0 |  |  |  | (50.6 | )
Net increase (decrease) in cash and cash equivalents |  |  | (16.8 | ) |  |  | (85.4 | ) |  |  | (102.2 | )
Cash and cash equivalents at beginning of period |  |  | 20.3 |  |  |  | 89.0 |  |  |  | 109.3 |
Cash and cash equivalents at end of period |  | $ | 3.5 |  |  | $ | 3.6 |  |  | $ | 7.1 |

X
- Definition Schedule of business combination of cash flows. + References No definition available. + Details
Name: | hesm_ScheduleOfBusinessCombinationOfCashFlowsTableTextBlock
Namespace Prefix: | hesm_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of business combination of operation. + References No definition available. + Details
Name: | hesm_ScheduleOfBusinessCombinationOfOperationTableTextBlock
Namespace Prefix: | hesm_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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