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v3.21.2

Segments (Tables) | 6 Months Ended
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Jun. 30, 2021
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, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues and other income |  | $ | 154.6 |  |  | $ | 105.3 |  |  | $ | 34.9 |  |  | $ | - |  |  | $ | 294.8 |
Net income (loss) |  |  | 92.4 |  |  |  | 71.6 |  |  |  | 26.1 |  |  |  | (28.1 | ) |  |  | 162.0 |
Net income (loss) attributable to Hess Midstream LP |  |  | 8.1 |  |  |  | 6.3 |  |  |  | 2.4 |  |  |  | (5.8 | ) |  |  | 11.0 |
Depreciation expense |  |  | 25.2 |  |  |  | 11.2 |  |  |  | 4.0 |  |  |  | - |  |  |  | 40.4 |
Proportional share of equity affiliates' depreciation |  |  | - |  |  |  | 1.3 |  |  |  | - |  |  |  | - |  |  |  | 1.3 |
Income from equity investments |  |  | - |  |  |  | 2.9 |  |  |  | - |  |  |  | - |  |  |  | 2.9 |
Interest expense, net |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 22.9 |  |  |  | 22.9 |
Income tax expense |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 3.6 |  |  |  | 3.6 |
Adjusted EBITDA |  |  | 117.6 |  |  |  | 84.1 |  |  |  | 30.1 |  |  |  | (1.6 | ) |  |  | 230.2 |
Capital expenditures* |  |  | 38.2 |  |  |  | 8.1 |  |  |  | 0.1 |  |  |  | - |  |  |  | 46.4 |
|  | 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 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1.7 |  |  |  | 1.7 |
Gain on sale of plant, property 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 Six Months Ended June 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues and other income |  | $ | 307.3 |  |  | $ | 208.8 |  |  | $ | 67.5 |  |  | $ | - |  |  | $ | 583.6 |
Net income (loss) |  |  | 184.8 |  |  |  | 142.5 |  |  |  | 50.1 |  |  |  | (55.8 | ) |  |  | 321.6 |
Net income (loss) attributable to Hess Midstream LP |  |  | 14.5 |  |  |  | 11.1 |  |  |  | 4.0 |  |  |  | (10.0 | ) |  |  | 19.6 |
Depreciation expense |  |  | 50.1 |  |  |  | 22.4 |  |  |  | 8.1 |  |  |  | - |  |  |  | 80.6 |
Proportional share of equity affiliates' depreciation |  |  | - |  |  |  | 2.6 |  |  |  | - |  |  |  | - |  |  |  | 2.6 |
Income from equity investments |  |  | - |  |  |  | 5.6 |  |  |  | - |  |  |  | - |  |  |  | 5.6 |
Interest expense, net |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 46.0 |  |  |  | 46.0 |
Income tax expense |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 6.1 |  |  |  | 6.1 |
Adjusted EBITDA |  |  | 234.9 |  |  |  | 167.5 |  |  |  | 58.2 |  |  |  | (3.7 | ) |  |  | 456.9 |
Capital expenditures* |  |  | 57.6 |  |  |  | 11.8 |  |  |  | 0.1 |  |  |  | - |  |  |  | 69.5 |
|  | 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 |
*Includes acquisition, expansion and maintenance capital expenditures, as applicable.
Total Assets for Reportable Segments | Total assets for the reportable segments are as follows:
|  | June 30, 2021 |  |  | December 31, 2020 |
(in millions) |  |  |  |  |  |  |  |
Gathering |  | $ | 1,869.3 |  |  | $ | 1,856.2 |
Processing and Storage(1) |  |  | 1,153.6 |  |  |  | 1,170.3 |
Terminaling and Export |  |  | 287.9 |  |  |  | 292.3 |
Interest and Other |  |  | 75.6 |  |  |  | 55.7 |
Total assets |  | $ | 3,386.4 |  |  | $ | 3,374.5 |
(1) | Includes investment in equity investees of $102.5 million as of June 30, 2021 and $108.4 million as of December 31, 2020.

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