XML 19 R8.htm IDEA: XBRL DOCUMENT v3.20.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities    
Net income $ 352.6 $ 242.6 [1]
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation expense 116.9 105.0 [1]
(Gain) loss on sale of property, plant and equipment (0.1)  
(Gain) loss on interest rate swaps (0.4) (0.6) [1]
(Income) loss from equity investments (7.2) (0.5) [1]
(Increase) decrease in capitalized interest [1]   (4.1)
Distributions from equity investments 6.8  
Amortization of deferred financing costs 5.1 3.8 [1]
Equity-based compensation expense 1.2 1.1 [1]
Deferred income tax expense (benefit) 5.2  
Changes in assets and liabilities:    
Accounts receivable – affiliate (4.9) (7.6) [1]
Other current and noncurrent assets (3.4) (4.7) [1]
Accounts payable – trade 9.5 3.7 [1]
Accounts payable – affiliate (0.5) (1.5) [1]
Accrued liabilities (12.6)  
Other current and noncurrent liabilities (1.0) (2.8) [1]
Net cash provided by (used in) operating activities 467.2 334.4 [1]
Cash flows from investing activities    
Proceeds from sale of property, plant and equipment 0.1  
Additions to property, plant and equipment (246.0) (194.9) [1]
Acquisitions [1]   (89.2)
Payments for equity investments [1]   (33.0)
Net cash provided by (used in) investing activities (245.9) (386.0) [1]
Cash flows from financing activities    
Net proceeds from (repayments of) bank borrowings with maturities of 90 days or less 146.0 176.0 [1]
Repayments of bank borrowings with maturities of greater than 90 days [1]   (7.5)
Financing costs (1.3)  
Distributions to shareholders/unitholders (23.5) (63.0) [1]
Distributions to noncontrolling interest (344.4)  
Hess Water Services acquisition final settlement 1.6  
Capital distribution to Hess associated with acquisitions [1]   (156.1)
Net cash provided by (used in) financing activities (221.6) (50.6) [1]
Increase (decrease) in cash and cash equivalents (0.3) (102.2) [1]
Cash and cash equivalents, beginning of period 3.3 109.3 [1]
Cash and cash equivalents, end of period 3.0 7.1 [1]
Supplemental disclosure of non-cash investing and financing activities:    
(Increase) decrease in accrued capital expenditures and related liabilities $ 43.8 (13.9) [1]
Hess    
Cash flows from investing activities    
Acquisitions [1]   $ (68.9)
[1] The financial information presented in this report has been retrospectively adjusted for the acquisition of Hess Infrastructure Partners LP.