Earnings per Share

6 Months Ended

Jun. 30, 2021

Note 10. Earnings per Share

We calculate earnings per Class A Share as we do not have any other participating securities. Substantially all of income tax expense is attributed to earnings of Class A Shares reflective of our organizational structure. 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.

	Three Months Ended June 30,				Six Months Ended June 30,
(in millions, except per share amounts)	2021		2020		2021		2020
Net income	$	162.0	$	107.8	$	321.6	$	236.8
Less: Net income attributable to noncontrolling interest		151.0		102.5		302.0		225.0
Net income attributable to Hess Midstream LP		11.0		5.3		19.6		11.8
Net income attributable to Hess Midstream LP per Class A share:
Basic:	$	0.44	$	0.29	$	0.89	$	0.66
Diluted:	$	0.44	$	0.29	$	0.87	$	0.64
Weighted average Class A shares outstanding:
Basic:		25.0		18.0		22.2		18.0
Diluted:		25.1		18.1		22.3		18.1

For the three and six months ended June 30, 2021 the weighted average number of Class A shares outstanding included 77,748 and 99,985 dilutive restricted shares, respectively, compared with 77,845 and 65,144 dilutive restricted shares for the three and six months ended June 30, 2020, respectively.