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Earnings per Share/Limited Partner Unit (Tables)
12 Months Ended
Dec. 31, 2019
Earnings Per Share [Abstract]  
Schedule of Earnings per Share Limited Partner Unit

Subsequent to the Restructuring, we calculate earnings per Class A Share and we do not have any other participating securities. 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. 

 

 

Year Ended December 31,

(in millions, except per share amounts)

2019

 

2018

 

2017

Net income

$

317.7

 

$

325.5

 

$

242.0

Less: Net income attributable to net parent investment

 

(55.0)

 

 

(46.8)

 

 

25.4

Less: Net income attributable to noncontrolling interest

 

302.6

 

 

301.5

 

 

175.4

Net income attributable to Hess Midstream LP

 

70.1

 

 

70.8

 

 

41.2

Less: General partner's interest in net income

   prior to the Restructuring

 

3.4

 

 

1.7

 

 

0.8

Limited partners' interest in net income

$

66.7

 

$

69.1

 

$

40.4

Common unitholders' interest in net income attributable

   to Hess Midstream LP

 

 

 

$

34.6

 

$

20.2

Subordinated unitholders' interest in net income

   attributable to Hess Midstream LP

 

 

 

$

34.5

 

$

20.2

Net income attributable to Hess Midstream LP

   per Class A Share/limited partner unit*:

 

 

 

 

 

 

 

 

Basic:

$

1.21

 

 

 

 

 

 

Diluted:

$

1.20

 

 

 

 

 

 

Net income attributable to Hess Midstream LP

   per limited partner unit (basic and diluted):

 

 

 

 

 

 

 

 

Common

 

 

 

$

1.27

 

$

0.75

Subordinated

 

 

 

$

1.27

 

$

0.75

Weighted average Class A Shares outstanding

   subsequent to the Restructuring

   (basic and diluted):

 

18.0

 

 

 

 

 

 

Weighted average limited partner units outstanding

   prior to the Restructuring

 

 

 

 

 

 

 

 

Basic:

 

 

 

 

 

 

 

 

Common

 

27.3

 

 

27.3

 

 

26.9

Subordinated

 

27.3

 

 

27.3

 

 

26.9

Diluted:

 

 

 

 

 

 

 

 

Common

 

27.5

 

 

27.4

 

 

26.9

Subordinated

 

27.3

 

 

27.3

 

 

26.9

 

*Net income attributable to Hess Midstream LP per Class A Share/limited partner unit was calculated by combining net income per limited partner unit (common and subordinated) for the period prior to the Restructuring on December 16, 2019, and net income per Class A Share for the period subsequent to the Restructuring.