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Segments (Tables)
12 Months Ended
Dec. 31, 2019
Segment Reporting [Abstract]  
Financial Data for Each Reportable Segment

The following tables reflect certain financial data for each reportable segment. The acquisition of HIP, which included Hess Water Services caused a change in composition of reportable segments and, as a result, the corresponding items of segment information for earlier periods have been restated.

 

 

Gathering

 

 

Processing and Storage

 

 

Terminaling and Export

 

 

Interest and Other

 

 

Consolidated

 

(in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Year Ended December 31, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues and other income

 

$

422.9

 

 

$

295.3

 

 

$

130.1

 

 

$

-

 

 

$

848.3

 

Net income (loss)

 

 

186.0

 

 

 

176.1

 

 

 

54.8

 

 

 

(99.2

)

 

 

317.7

 

Net income (loss) attributable to

   Hess Midstream LP

 

 

34.6

 

 

 

34.6

 

 

 

10.5

 

 

 

(9.6

)

 

 

70.1

 

Depreciation expense

 

 

81.6

 

 

 

44.7

 

 

 

16.2

 

 

 

-

 

 

 

142.5

 

Proportional share of equity affiliates' depreciation

 

 

-

 

 

 

2.0

 

 

 

-

 

 

 

-

 

 

 

2.0

 

Income from equity investments

 

 

-

 

 

 

3.4

 

 

 

-

 

 

 

-

 

 

 

3.4

 

Interest expense, net

 

 

-

 

 

 

-

 

 

 

-

 

 

 

62.4

 

 

 

62.4

 

Income tax expense (benefit)

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(0.1

)

 

 

(0.1

)

Transaction costs

 

 

-

 

 

 

-

 

 

 

-

 

 

 

26.2

 

 

 

26.2

 

Adjusted EBITDA

 

 

267.6

 

 

 

222.8

 

 

 

71.0

 

 

 

(10.7

)

 

 

550.7

 

Capital expenditures*

 

 

373.6

 

 

 

42.5

 

 

 

0.2

 

 

 

-

 

 

 

416.3

 

 

 

Gathering

 

 

Processing and Storage

 

 

Terminaling and Export

 

 

Interest and Other

 

 

Consolidated

 

(in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Year Ended December 31, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues and other income

 

$

375.2

 

 

$

251.4

 

 

$

86.1

 

 

$

-

 

 

$

712.7

 

Net income (loss)

 

 

199.6

 

 

 

148.8

 

 

 

36.1

 

 

 

(59.0

)

 

 

325.5

 

Net income (loss) attributable to

   Hess Midstream LP

 

 

38.4

 

 

 

30.7

 

 

 

7.3

 

 

 

(5.6

)

 

 

70.8

 

Depreciation expense

 

 

67.2

 

 

 

43.9

 

 

 

15.8

 

 

 

-

 

 

 

126.9

 

Interest expense, net

 

 

-

 

 

 

-

 

 

 

-

 

 

 

53.3

 

 

 

53.3

 

Gain on sale of property, plant and equipment

 

 

-

 

 

 

-

 

 

 

-

 

 

 

0.6

 

 

 

0.6

 

Adjusted EBITDA

 

 

266.8

 

 

 

192.7

 

 

 

51.9

 

 

 

(6.3

)

 

 

505.1

 

Capital expenditures

 

 

257.0

 

 

 

10.0

 

 

 

4.3

 

 

 

-

 

 

 

271.3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gathering

 

 

Processing and Storage

 

 

Terminaling and Export

 

 

Interest and Other

 

 

Consolidated

 

(in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Year Ended December 31, 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues and other income

 

$

285.5

 

 

$

227.3

 

 

$

66.7

 

 

$

-

 

 

$

579.5

 

Net income (loss)

 

 

132.1

 

 

 

123.8

 

 

 

14.4

 

 

 

(28.3

)

 

 

242.0

 

Net income (loss) attributable to

   Hess Midstream LP

 

 

23.3

 

 

 

18.8

 

 

 

2.4

 

 

 

(3.3

)

 

 

41.2

 

Depreciation expense

 

 

57.8

 

 

 

43.6

 

 

 

15.1

 

 

 

-

 

 

 

116.5

 

Interest expense, net

 

 

-

 

 

 

-

 

 

 

-

 

 

 

25.8

 

 

 

25.8

 

Gain on sale of property, plant and equipment

 

 

-

 

 

 

-

 

 

 

-

 

 

 

4.7

 

 

 

4.7

 

Adjusted EBITDA

 

 

189.9

 

 

 

167.4

 

 

 

29.5

 

 

 

(7.2

)

 

 

379.6

 

Capital expenditures

 

 

77.8

 

 

 

15.9

 

 

 

24.6

 

 

 

-

 

 

 

118.3

 

*Includes acquisition, expansion and maintenance capital expenditures.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Assets for Reportable Segments

Total assets for reportable segments are as follows:

 

 

 

 

 

 

December 31, 2019

 

 

December 31, 2018

 

(in millions)

 

 

 

 

 

 

 

 

Gathering

 

$

1,844.9

 

 

$

1,544.0

 

Processing and Storage(1)

 

 

1,055.1

 

 

 

1,008.6

 

Terminaling and Export

 

 

310.7

 

 

 

320.2

 

Interest and Other

 

 

67.0

 

 

 

118.4

 

Total assets

 

$

3,277.7

 

 

$

2,991.2

 

(1)

Includes $107.8 million of investment in equity investees.