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Segments (Tables)
 3 Months Ended
Mar. 31, 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 March 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues and other income

 

$

152.7

 

 

$

103.5

 

 

$

32.6

 

 

$

-

 

 

$

288.8

 

Net income (loss)

 

 

92.4

 

 

 

70.9

 

 

 

24.0

 

 

 

(27.7

)

 

 

159.6

 

Net income (loss) attributable to

   Hess Midstream LP

 

 

6.4

 

 

 

4.8

 

 

 

1.6

 

 

 

(4.2

)

 

 

8.6

 

Depreciation expense

 

 

24.9

 

 

 

11.2

 

 

 

4.1

 

 

 

-

 

 

 

40.2

 

Proportional share of equity affiliates' depreciation

 

 

-

 

 

 

1.3

 

 

 

-

 

 

 

-

 

 

 

1.3

 

Income from equity investments

 

 

-

 

 

 

2.7

 

 

 

-

 

 

 

-

 

 

 

2.7

 

Interest expense, net

 

 

-

 

 

 

-

 

 

 

-

 

 

 

23.1

 

 

 

23.1

 

Income tax expense

 

 

-

 

 

 

-

 

 

 

-

 

 

 

2.5

 

 

 

2.5

 

Adjusted EBITDA

 

 

117.3

 

 

 

83.4

 

 

 

28.1

 

 

 

(2.1

)

 

 

226.7

 

Capital expenditures*

 

 

19.4

 

 

 

3.7

 

 

 

-

 

 

 

-

 

 

 

23.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gathering

 

 

Processing and Storage

 

 

Terminaling and Export

 

 

Interest and Other

 

 

Consolidated

 

(in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Three Months Ended March 31, 2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues and other income

 

$

141.6

 

 

$

97.0

 

 

$

52.2

 

 

$

-

 

 

$

290.8

 

Net income (loss)

 

 

75.9

 

 

 

62.7

 

 

 

20.7

 

 

 

(30.3

)

 

 

129.0

 

Net income (loss) attributable to

   Hess Midstream LP

 

 

4.8

 

 

 

4.0

 

 

 

1.3

 

 

 

(3.6

)

 

 

6.5

 

Depreciation expense

 

 

23.3

 

 

 

11.2

 

 

 

4.0

 

 

 

-

 

 

 

38.5

 

Proportional share of equity affiliates' depreciation

 

 

-

 

 

 

1.3

 

 

 

-

 

 

 

-

 

 

 

1.3

 

Income from equity investments

 

 

-

 

 

 

2.7

 

 

 

-

 

 

 

-

 

 

 

2.7

 

Interest expense, net

 

 

-

 

 

 

-

 

 

 

-

 

 

 

24.8

 

 

 

24.8

 

Income tax expense

 

 

-

 

 

 

-

 

 

 

-

 

 

 

1.7

 

 

 

1.7

 

Adjusted EBITDA

 

 

99.2

 

 

 

75.2

 

 

 

24.7

 

 

 

(3.8

)

 

 

195.3

 

Capital expenditures*

 

 

15.8

 

 

 

41.1

 

 

 

0.1

 

 

 

-

 

 

 

57.0

 

 

*Includes acquisition, expansion and maintenance capital expenditures, as applicable.
Total Assets for Reportable Segments

Total assets for the reportable segments are as follows:

 

 

 

 

 

 

March 31, 2021

 

 

December 31, 2020

 

(in millions)

 

 

 

 

 

 

 

 

Gathering

 

$

1,859.3

 

 

$

1,856.2

 

Processing and Storage(1)

 

 

1,161.6

 

 

 

1,170.3

 

Terminaling and Export

 

 

290.0

 

 

 

292.3

 

Interest and Other

 

 

77.7

 

 

 

55.7

 

Total assets

 

$

3,388.6

 

 

$

3,374.5

 

(1)

Includes investment in equity investees of $103.6 million as of March 31, 2021 and $108.4 million as of December 31, 2020.