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v3.20.2

Segments (Tables) | 9 Months Ended
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Sep. 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 September 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues and other income |  | $ | 142.9 |  |  | $ | 90.2 |  |  | $ | 31.7 |  |  | $ | - |  |  | $ | 264.8 |
Net income (loss) |  |  | 72.4 |  |  |  | 50.7 |  |  |  | 18.0 |  |  |  | (25.3 | ) |  |  | 115.8 |
Net income (loss) attributable to Hess Midstream LP |  |  | 4.5 |  |  |  | 3.2 |  |  |  | 1.1 |  |  |  | (3.2 | ) |  |  | 5.6 |
Depreciation expense |  |  | 24.2 |  |  |  | 11.2 |  |  |  | 4.1 |  |  |  | - |  |  |  | 39.5 |
Proportional share of equity affiliates' depreciation |  |  | - |  |  |  | 1.3 |  |  |  | - |  |  |  | - |  |  |  | 1.3 |
Income from equity investments |  |  | - |  |  |  | 3.6 |  |  |  | - |  |  |  | - |  |  |  | 3.6 |
Interest expense, net |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 23.2 |  |  |  | 23.2 |
Income tax expense (benefit) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1.8 |  |  |  | 1.8 |
Adjusted EBITDA |  |  | 96.6 |  |  |  | 63.2 |  |  |  | 22.1 |  |  |  | (0.3 | ) |  |  | 181.6 |
Capital expenditures* |  |  | 30.2 |  |  |  | 36.1 |  |  |  | 0.1 |  |  |  | - |  |  |  | 66.4 |
|  | Gathering |  |  | Processing and Storage |  |  | Terminaling and Export |  |  | Interest and Other |  |  | Consolidated |
(in millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
For the Three Months Ended September 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues and other income |  | $ | 105.9 |  |  | $ | 74.0 |  |  | $ | 35.0 |  |  | $ | - |  |  | $ | 214.9 |
Net income (loss) |  |  | 46.5 |  |  |  | 42.8 |  |  |  | 14.3 |  |  |  | (16.2 | ) |  |  | 87.4 |
Net income (loss) attributable to Hess Midstream LP |  |  | 9.1 |  |  |  | 8.8 |  |  |  | 2.8 |  |  |  | (1.6 | ) |  |  | 19.1 |
Depreciation expense |  |  | 20.8 |  |  |  | 11.2 |  |  |  | 4.0 |  |  |  | - |  |  |  | 36.0 |
Proportional share of equity affiliates' depreciation |  |  | - |  |  |  | 0.5 |  |  |  | - |  |  |  | - |  |  |  | 0.5 |
Interest expense, net |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 12.4 |  |  |  | 12.4 |
Adjusted EBITDA |  |  | 67.3 |  |  |  | 54.5 |  |  |  | 18.3 |  |  |  | (3.8 | ) |  |  | 136.3 |
Capital expenditures* |  |  | 96.7 |  |  |  | 15.0 |  |  |  | 0.4 |  |  |  | - |  |  |  | 112.1 |
|  | Gathering |  |  | Processing and Storage |  |  | Terminaling and Export |  |  | Interest and Other |  |  | Consolidated |
(in millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
For the Nine Months Ended September 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues and other income |  | $ | 420.9 |  |  | $ | 274.0 |  |  | $ | 130.5 |  |  | $ | - |  |  | $ | 825.4 |
Net income (loss) |  |  | 220.0 |  |  |  | 159.2 |  |  |  | 54.6 |  |  |  | (81.2 | ) |  |  | 352.6 |
Net income (loss) attributable to Hess Midstream LP |  |  | 13.9 |  |  |  | 10.0 |  |  |  | 3.4 |  |  |  | (9.9 | ) |  |  | 17.4 |
Depreciation expense |  |  | 71.2 |  |  |  | 33.6 |  |  |  | 12.1 |  |  |  | - |  |  |  | 116.9 |
Proportional share of equity affiliates' depreciation |  |  | - |  |  |  | 3.8 |  |  |  | - |  |  |  | - |  |  |  | 3.8 |
Income from equity investments |  |  | - |  |  |  | 7.2 |  |  |  | - |  |  |  | - |  |  |  | 7.2 |
Interest expense, net |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 71.3 |  |  |  | 71.3 |
Income tax expense (benefit) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 5.2 |  |  |  | 5.2 |
Gain on sale of property, plant and equipment |  |  | 0.1 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 0.1 |
Adjusted EBITDA |  |  | 291.1 |  |  |  | 196.6 |  |  |  | 66.7 |  |  |  | (4.7 | ) |  |  | 549.7 |
Capital expenditures* |  |  | 71.9 |  |  |  | 129.9 |  |  |  | 0.4 |  |  |  | - |  |  |  | 202.2 |
|  | Gathering |  |  | Processing and Storage |  |  | Terminaling and Export |  |  | Interest and Other |  |  | Consolidated |
(in millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
For the Nine Months Ended September 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues and other income |  | $ | 298.0 |  |  | $ | 208.0 |  |  | $ | 88.8 |  |  | $ | - |  |  | $ | 594.8 |
Net income (loss) |  |  | 132.5 |  |  |  | 124.2 |  |  |  | 38.8 |  |  |  | (52.9 | ) |  |  | 242.6 |
Net income (loss) attributable to Hess Midstream LP |  |  | 25.8 |  |  |  | 25.4 |  |  |  | 7.8 |  |  |  | (5.0 | ) |  |  | 54.0 |
Depreciation expense |  |  | 59.5 |  |  |  | 33.5 |  |  |  | 12.0 |  |  |  | - |  |  |  | 105.0 |
Proportional share of equity affiliates' depreciation |  |  | - |  |  |  | 0.5 |  |  |  | - |  |  |  | - |  |  |  | 0.5 |
Interest expense, net |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 44.2 |  |  |  | 44.2 |
Adjusted EBITDA |  |  | 192.0 |  |  |  | 158.2 |  |  |  | 50.8 |  |  |  | (8.7 | ) |  |  | 392.3 |
Capital expenditures* |  |  | 284.2 |  |  |  | 23.7 |  |  |  | 0.1 |  |  |  | - |  |  |  | 308.0 |
*Includes acquisition, expansion and maintenance capital expenditures.
Total Assets for Reportable Segments | Total assets for the reportable segments are as follows:
|  | September 30, 2020 |  |  | December 31, 2019 |
(in millions) |  |  |  |  |  |  |  |
Gathering |  | $ | 1,862.6 |  |  | $ | 1,844.9 |
Processing and Storage(1) |  |  | 1,153.7 |  |  |  | 1,055.1 |
Terminaling and Export |  |  | 296.1 |  |  |  | 310.7 |
Interest and Other |  |  | 59.3 |  |  |  | 67.0 |
Total assets |  | $ | 3,371.7 |  |  | $ | 3,277.7 |
(1) | Includes investment in equity investees of $108.2 million as of September 30, 2020 and $107.8 as of December 31, 2019.

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