$HESM
Hess Midstream LP

2022 Q2 Form 10-Q Financial Statement

#000095017022007851 Filed on May 05, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 Q1
Revenue $313.4M $312.4M $288.8M
YoY Change 6.31% 8.17% -0.69%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $73.10M $72.50M $66.10M
YoY Change 6.25% 9.68% -33.57%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $45.00M $44.40M $40.20M
YoY Change 11.39% 10.45% 4.42%
% of Gross Profit
Operating Expenses $118.1M $116.9M $106.3M
YoY Change 8.15% 9.97% -22.97%
Operating Profit $195.3M $195.5M $182.5M
YoY Change 5.23% 7.12% 19.44%
Interest Expense -$37.40M -$31.30M -$23.10M
YoY Change 63.32% 35.5% -6.85%
% of Operating Profit -19.15% -16.01% -12.66%
Other Income/Expense, Net
YoY Change
Pretax Income $158.9M $164.6M $162.1M
YoY Change -4.05% 1.54% 24.02%
Income Tax $7.100M $5.000M $2.500M
% Of Pretax Income 4.47% 3.04% 1.54%
Net Earnings $22.00M $16.90M $8.600M
YoY Change 100.0% 96.51% 32.31%
Net Earnings / Revenue 7.02% 5.41% 2.98%
Basic Earnings Per Share
Diluted Earnings Per Share $503.4K $500.0K $443.3K
COMMON SHARES
Basic Shares Outstanding 44.00M 33.67M
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.400M $3.000M $1.500M
YoY Change -36.84% 100.0% -51.61%
Cash & Equivalents $2.400M $3.000M $1.500M
Short-Term Investments
Other Short-Term Assets $2.400M $6.700M $4.200M
YoY Change 71.43% 59.52% 40.0%
Inventory
Prepaid Expenses
Receivables $153.6M $137.5M $108.1M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $158.4M $147.2M $113.8M
YoY Change 43.48% 29.35% 0.53%
LONG-TERM ASSETS
Property, Plant & Equipment $3.145B $3.118B $3.095B
YoY Change 1.42% 0.76% 2.17%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $96.90M $97.30M $103.6M
YoY Change -5.46% -6.08% -6.24%
Other Assets $6.500M $7.100M $9.400M
YoY Change -90.96% -24.47% -84.59%
Total Long-Term Assets $3.440B $3.335B $3.275B
YoY Change 5.02% 1.85% 2.3%
TOTAL ASSETS
Total Short-Term Assets $158.4M $147.2M $113.8M
Total Long-Term Assets $3.440B $3.335B $3.275B
Total Assets $3.599B $3.483B $3.389B
YoY Change 6.27% 2.77% 2.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $60.50M $63.00M $38.90M
YoY Change 38.13% 61.95% -30.54%
Accrued Expenses $85.10M $55.50M $40.20M
YoY Change 35.73% 38.06% -52.31%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $22.50M $12.50M
YoY Change -100.0% 80.0% 400.0%
Total Short-Term Liabilities $152.5M $143.8M $94.30M
YoY Change 20.08% 52.49% -35.32%
LONG-TERM LIABILITIES
Long-Term Debt $2.937B $2.538B $1.886B
YoY Change 61.64% 34.58% 4.09%
Other Long-Term Liabilities $20.90M $18.10M $23.00M
YoY Change -11.06% -21.3% 41.98%
Total Long-Term Liabilities $2.958B $2.557B $1.909B
YoY Change 60.71% 33.9% 4.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $152.5M $143.8M $94.30M
Total Long-Term Liabilities $2.958B $2.557B $1.909B
Total Liabilities $3.111B $2.701B $2.004B
YoY Change -2.85% 34.8% -37.07%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $248.7M $203.9M $184.0M
YoY Change
Total Liabilities & Shareholders Equity $3.599B $3.483B $3.389B
YoY Change 6.27% 2.77% 2.24%

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income $22.00M $16.90M $8.600M
YoY Change 100.0% 96.51% 32.31%
Depreciation, Depletion And Amortization $45.00M $44.40M $40.20M
YoY Change 11.39% 10.45% 4.42%
Cash From Operating Activities $213.2M $190.6M $165.4M
YoY Change -5.08% 15.24% 17.97%
INVESTING ACTIVITIES
Capital Expenditures -$55.90M $54.80M $26.70M
YoY Change 115.0% 105.24% -65.81%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$55.90M -$54.80M -$26.70M
YoY Change 115.0% 105.24% -65.81%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -157.9M -135.0M -139.8M
YoY Change -19.56% -3.43% 124.4%
NET CHANGE
Cash From Operating Activities 213.2M 190.6M 165.4M
Cash From Investing Activities -55.90M -54.80M -26.70M
Cash From Financing Activities -157.9M -135.0M -139.8M
Net Change In Cash -600.0K 800.0K -1.100M
YoY Change -126.09% -172.73% 450.0%
FREE CASH FLOW
Cash From Operating Activities $213.2M $190.6M $165.4M
Capital Expenditures -$55.90M $54.80M $26.70M
Free Cash Flow $269.1M $135.8M $138.7M
YoY Change 7.38% -2.09% 123.35%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2021Q1 us-gaap Type Of Revenue Extensible List
TypeOfRevenueExtensibleList
http://fasb.org/us-gaap/2021-01-31#ServiceMember
CY2022Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2022Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2022Q1 us-gaap Type Of Revenue Extensible List
TypeOfRevenueExtensibleList
http://fasb.org/us-gaap/2021-01-31#ServiceMember
CY2022Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001789832
CY2022Q1 dei Amendment Flag
AmendmentFlag
false
CY2022Q1 dei Document Type
DocumentType
10-Q
CY2022Q1 dei Document Quarterly Report
DocumentQuarterlyReport
true
CY2022Q1 dei Document Period End Date
DocumentPeriodEndDate
2022-03-31
CY2022Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2022
CY2022Q1 dei Document Transition Report
DocumentTransitionReport
false
CY2022Q1 dei Entity File Number
EntityFileNumber
001-39163
CY2022Q1 dei Entity Registrant Name
EntityRegistrantName
Hess Midstream LP
CY2022Q1 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
CY2022Q1 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
84-3211812
CY2022Q1 dei Entity Address Address Line1
EntityAddressAddressLine1
1501 McKinney Street
CY2022Q1 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
77010
CY2022Q1 dei Entity Address City Or Town
EntityAddressCityOrTown
Houston
CY2022Q1 dei Entity Address State Or Province
EntityAddressStateOrProvince
TX
CY2022Q1 dei City Area Code
CityAreaCode
713
CY2022Q1 dei Local Phone Number
LocalPhoneNumber
496-4200
CY2022Q1 dei Security12b Title
Security12bTitle
Class A shares representing limited partner interests
CY2022Q1 dei Trading Symbol
TradingSymbol
HESM
CY2022Q1 dei Security Exchange Name
SecurityExchangeName
NYSE
CY2022Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2022Q1 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2022Q1 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2022Q1 dei Entity Small Business
EntitySmallBusiness
false
CY2022Q1 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2022Q1 dei Entity Shell Company
EntityShellCompany
false
CY2022Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
44002846
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3000000.0
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2200000
CY2022Q1 us-gaap Accounts Receivable Related Parties Current
AccountsReceivableRelatedPartiesCurrent
137500000
CY2021Q4 us-gaap Accounts Receivable Related Parties Current
AccountsReceivableRelatedPartiesCurrent
120300000
CY2022Q1 us-gaap Other Assets Current
OtherAssetsCurrent
6700000
CY2022Q1 us-gaap Other Income
OtherIncome
300000
CY2021Q4 us-gaap Other Assets Current
OtherAssetsCurrent
10600000
CY2022Q1 us-gaap Assets Current
AssetsCurrent
147200000
CY2021Q4 us-gaap Assets Current
AssetsCurrent
133100000
CY2022Q1 us-gaap Equity Method Investments
EquityMethodInvestments
97300000
CY2021Q4 us-gaap Equity Method Investments
EquityMethodInvestments
101600000
CY2022Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3117900000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3125000000.0
CY2022Q1 us-gaap Advances To Affiliate
AdvancesToAffiliate
700000
CY2021Q4 us-gaap Advances To Affiliate
AdvancesToAffiliate
800000
CY2022Q1 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
112300000
CY2021Q4 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
117300000
CY2022Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
7100000
CY2021Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
7800000
CY2022Q1 us-gaap Assets
Assets
3482500000
CY2021Q4 us-gaap Assets
Assets
3485600000
CY2022Q1 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
35600000
CY2021Q4 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
26900000
CY2022Q1 us-gaap Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
27400000
CY2021Q4 us-gaap Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
37600000
CY2022Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
55500000
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
76200000
CY2022Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
22500000
CY2021Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
20000000.0
CY2022Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
2800000
CY2021Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
10200000
CY2022Q1 us-gaap Liabilities Current
LiabilitiesCurrent
143800000
CY2021Q4 us-gaap Liabilities Current
LiabilitiesCurrent
170900000
CY2022Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2538400000
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2543500000
CY2022Q1 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
400000
CY2021Q4 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
400000
CY2022Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
18100000
CY2021Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
17700000
CY2022Q1 us-gaap Liabilities
Liabilities
2700700000
CY2021Q4 us-gaap Liabilities
Liabilities
2732500000
CY2022Q1 hesm Partners Capital Excluding Accumulated Other Comprehensive Income Loss Net Of Tax
PartnersCapitalExcludingAccumulatedOtherComprehensiveIncomeLossNetOfTax
203900000
CY2021Q4 hesm Partners Capital Excluding Accumulated Other Comprehensive Income Loss Net Of Tax
PartnersCapitalExcludingAccumulatedOtherComprehensiveIncomeLossNetOfTax
204100000
CY2022Q1 us-gaap Partners Capital Attributable To Noncontrolling Interest
PartnersCapitalAttributableToNoncontrollingInterest
577900000
CY2021Q4 us-gaap Partners Capital Attributable To Noncontrolling Interest
PartnersCapitalAttributableToNoncontrollingInterest
549000000.0
CY2022Q1 us-gaap Partners Capital Including Portion Attributable To Noncontrolling Interest
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
781800000
CY2021Q4 us-gaap Partners Capital Including Portion Attributable To Noncontrolling Interest
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
753100000
CY2022Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
3482500000
CY2021Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
3485600000
CY2022Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
312100000
CY2021Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
288800000
CY2022Q1 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
66500000
CY2022Q1 us-gaap Revenues
Revenues
312400000
CY2021Q1 us-gaap Revenues
Revenues
288800000
CY2021Q1 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
59800000
CY2022Q1 us-gaap Depreciation
Depreciation
44400000
CY2021Q1 us-gaap Depreciation
Depreciation
40200000
CY2022Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
6000000.0
CY2021Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
6300000
CY2022Q1 us-gaap Costs And Expenses
CostsAndExpenses
116900000
CY2021Q1 us-gaap Costs And Expenses
CostsAndExpenses
106300000
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
195500000
CY2021Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
182500000
CY2022Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
400000
CY2021Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
2700000
CY2022Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-31300000
CY2021Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-23100000
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
164600000
CY2021Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
162100000
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5000000.0
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2500000
CY2022Q1 us-gaap Profit Loss
ProfitLoss
159600000
CY2021Q1 us-gaap Profit Loss
ProfitLoss
159600000
CY2022Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
142700000
CY2021Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
151000000.0
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
16900000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
8600000
CY2021Q4 us-gaap Partners Capital Including Portion Attributable To Noncontrolling Interest
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
753100000
CY2022Q1 us-gaap Profit Loss
ProfitLoss
159600000
CY2022Q1 us-gaap Partners Capital Account Unit Based Compensation
PartnersCapitalAccountUnitBasedCompensation
500000
CY2022Q1 us-gaap Distribution Made To Limited Partner Distributions Paid Per Unit
DistributionMadeToLimitedPartnerDistributionsPaidPerUnit
0.5167
CY2022Q1 us-gaap Limited Partners Capital Account Distribution Amount
LimitedPartnersCapitalAccountDistributionAmount
131000000.0
CY2022Q1 hesm Transaction Costs
TransactionCosts
-400000
CY2022Q1 us-gaap Partners Capital Including Portion Attributable To Noncontrolling Interest
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
781800000
CY2020Q4 us-gaap Partners Capital Including Portion Attributable To Noncontrolling Interest
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
1326000000.0
CY2021Q1 us-gaap Profit Loss
ProfitLoss
159600000
CY2021Q1 us-gaap Partners Capital Account Unit Based Compensation
PartnersCapitalAccountUnitBasedCompensation
400000
CY2021Q1 us-gaap Distribution Made To Limited Partner Distributions Paid Per Unit
DistributionMadeToLimitedPartnerDistributionsPaidPerUnit
0.4471
CY2021Q1 us-gaap Limited Partners Capital Account Distribution Amount
LimitedPartnersCapitalAccountDistributionAmount
127300000
CY2021Q1 hesm Recognition Of Deferred Tax Asset
RecognitionOfDeferredTaxAsset
26400000
CY2021Q1 us-gaap Partners Capital Including Portion Attributable To Noncontrolling Interest
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
1385100000
CY2022Q1 us-gaap Profit Loss
ProfitLoss
159600000
CY2021Q1 us-gaap Profit Loss
ProfitLoss
159600000
CY2022Q1 us-gaap Depreciation
Depreciation
44400000
CY2021Q1 us-gaap Depreciation
Depreciation
40200000
CY2022Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
400000
CY2021Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
2700000
CY2022Q1 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
4700000
CY2021Q1 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
7500000
CY2022Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2000000.0
CY2021Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1700000
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
500000
CY2021Q1 us-gaap Share Based Compensation
ShareBasedCompensation
400000
CY2022Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
5000000.0
CY2021Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
2500000
CY2022Q1 us-gaap Increase Decrease In Due From Affiliates Current
IncreaseDecreaseInDueFromAffiliatesCurrent
17100000
CY2021Q1 us-gaap Increase Decrease In Due From Affiliates Current
IncreaseDecreaseInDueFromAffiliatesCurrent
14900000
CY2022Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-4000000.0
CY2021Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-1400000
CY2022Q1 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
8700000
CY2021Q1 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-9700000
CY2022Q1 us-gaap Increase Decrease In Due To Affiliates Current
IncreaseDecreaseInDueToAffiliatesCurrent
-2600000
CY2021Q1 us-gaap Increase Decrease In Due To Affiliates Current
IncreaseDecreaseInDueToAffiliatesCurrent
-1900000
CY2022Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-11000000.0
CY2021Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-10800000
CY2022Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-7200000
CY2021Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-7900000
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
190600000
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
165400000
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
54800000
CY2021Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
26700000
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-54800000
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-26700000
CY2022Q1 us-gaap Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess
1000000.0
CY2021Q1 us-gaap Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess
-10000000.0
CY2022Q1 us-gaap Repayments Of Short Term Debt Maturing In More Than Three Months
RepaymentsOfShortTermDebtMaturingInMoreThanThreeMonths
5000000.0
CY2021Q1 us-gaap Repayments Of Short Term Debt Maturing In More Than Three Months
RepaymentsOfShortTermDebtMaturingInMoreThanThreeMonths
2500000
CY2022Q1 hesm Payments Of Distribution To Shareholders Unitholders
PaymentsOfDistributionToShareholdersUnitholders
17500000
CY2021Q1 hesm Payments Of Distribution To Shareholders Unitholders
PaymentsOfDistributionToShareholdersUnitholders
8200000
CY2022Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
113500000
CY2021Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
119100000
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-135000000.0
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-139800000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
800000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1100000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2200000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2600000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
3000000.0
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1500000
CY2022Q1 hesm Increase Decrease In Accrued Capital Expenditures And Related Liabilities
IncreaseDecreaseInAccruedCapitalExpendituresAndRelatedLiabilities
17700000
CY2021Q1 hesm Increase Decrease In Accrued Capital Expenditures And Related Liabilities
IncreaseDecreaseInAccruedCapitalExpendituresAndRelatedLiabilities
3600000
CY2021Q1 hesm Recognition Of Non Cash Deferred Tax Asset
RecognitionOfNonCashDeferredTaxAsset
26400000
CY2022Q1 us-gaap Other Income
OtherIncome
300000
CY2022Q1 us-gaap Revenues
Revenues
312400000
CY2021Q4 hesm Accrued Capital Expenditures Current
AccruedCapitalExpendituresCurrent
26500000
CY2022Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2022Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
312100000
CY2021Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
288800000
CY2021Q1 us-gaap Revenues
Revenues
288800000
CY2022Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4378500000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4341400000
CY2022Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1260600000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1216400000
CY2022Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3117900000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3125000000.0
CY2022Q1 us-gaap Interest Payable Current
InterestPayableCurrent
17800000
CY2021Q4 us-gaap Interest Payable Current
InterestPayableCurrent
30900000
CY2022Q1 hesm Accrued Capital Expenditures Current
AccruedCapitalExpendituresCurrent
16400000
CY2022Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
21300000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
18800000
CY2022Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
55500000
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
76200000
CY2022Q1 us-gaap Debt Instrument Covenant Description
DebtInstrumentCovenantDescription
The Credit Facilities contain representations and warranties, affirmative and negative covenants and events of default that the Partnership considers to be customary for an agreement of this type, including a covenant that requires the Partnership to maintain a ratio of total debt to EBITDA (as defined in the Credit Facilities) for the prior four fiscal quarters of not greater than 5.00 to 1.00 as of the last day of each fiscal quarter (5.50 to 1.00 during the specified period following certain acquisitions) and, prior to the Partnership obtaining an investment grade credit rating, a ratio of secured debt to EBITDA for the prior four fiscal quarters of not greater than 4.00 to 1.00 as of the last day of each fiscal quarter.
CY2022Q1 hesm Ratio Of Debt To Ebitda
RatioOfDebtToEBITDA
5.00
CY2022Q1 hesm Leverage Ratio
LeverageRatio
5.50
CY2022Q1 hesm Secured Leverage Ratio
SecuredLeverageRatio
4.00
CY2022Q1 hesm Period Of Distribution Of Cash To Shareholders
PeriodOfDistributionOfCashToShareholders
P45D
CY2022Q1 us-gaap Profit Loss
ProfitLoss
159600000
CY2021Q1 us-gaap Profit Loss
ProfitLoss
159600000
CY2022Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
142700000
CY2021Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
151000000.0
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
16900000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
8600000
CY2022Q1 us-gaap Accrued Environmental Loss Contingencies Current
AccruedEnvironmentalLossContingenciesCurrent
800000
CY2021Q4 us-gaap Accrued Environmental Loss Contingencies Current
AccruedEnvironmentalLossContingenciesCurrent
800000
CY2021Q4 us-gaap Accrued Environmental Loss Contingencies Noncurrent
AccruedEnvironmentalLossContingenciesNoncurrent
3100000
CY2022Q1 us-gaap Accrued Environmental Loss Contingencies Noncurrent
AccruedEnvironmentalLossContingenciesNoncurrent
3100000
CY2022Q1 us-gaap Loss Contingency Accrual Carrying Value Current
LossContingencyAccrualCarryingValueCurrent
0
CY2021Q4 us-gaap Loss Contingency Accrual Carrying Value Current
LossContingencyAccrualCarryingValueCurrent
0
CY2022Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2022Q1 us-gaap Revenues
Revenues
312400000
CY2022Q1 us-gaap Profit Loss
ProfitLoss
159600000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
16900000
CY2021Q1 us-gaap Profit Loss
ProfitLoss
159600000
CY2022Q1 us-gaap Depreciation
Depreciation
44400000
CY2022Q1 hesm Proportional Share Of Equity Affiliates Depreciation
ProportionalShareOfEquityAffiliatesDepreciation
1300000
CY2022Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
400000
CY2022Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-31300000
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5000000.0
CY2022Q1 hesm Income Loss From Continuing Operations Before Interest Income Taxes Depreciation And Amortization
IncomeLossFromContinuingOperationsBeforeInterestIncomeTaxesDepreciationAndAmortization
241600000
CY2022Q1 us-gaap Property Plant And Equipment Gross Period Increase Decrease
PropertyPlantAndEquipmentGrossPeriodIncreaseDecrease
37100000
CY2021Q1 us-gaap Revenues
Revenues
288800000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
8600000
CY2021Q1 us-gaap Depreciation
Depreciation
40200000
CY2021Q1 hesm Proportional Share Of Equity Affiliates Depreciation
ProportionalShareOfEquityAffiliatesDepreciation
1300000
CY2021Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
2700000
CY2021Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-23100000
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2500000
CY2021Q1 hesm Income Loss From Continuing Operations Before Interest Income Taxes Depreciation And Amortization
IncomeLossFromContinuingOperationsBeforeInterestIncomeTaxesDepreciationAndAmortization
226700000
CY2021Q1 us-gaap Property Plant And Equipment Gross Period Increase Decrease
PropertyPlantAndEquipmentGrossPeriodIncreaseDecrease
23100000
CY2022Q1 us-gaap Assets
Assets
3482500000
CY2021Q4 us-gaap Assets
Assets
3485600000
CY2022Q1 hesm Limited Liability Company Llc Or Limited Partnership Lp Managing Member Or General Partner Ownership Controlling Interest
LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipControllingInterest
0.133
CY2022Q1 hesm Limited Liability Company Llc Or Limited Partnership Lp Managing Member Or General Partner Ownership Non Controlling Economic Interest
LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipNonControllingEconomicInterest
0.867

Files In Submission

Name View Source Status
0000950170-22-007851-index-headers.html Edgar Link pending
0000950170-22-007851-index.html Edgar Link pending
0000950170-22-007851.txt Edgar Link pending
0000950170-22-007851-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
hesm-20220331.htm Edgar Link pending
hesm-20220331.xsd Edgar Link pending
hesm-20220331_cal.xml Edgar Link unprocessable
hesm-20220331_def.xml Edgar Link unprocessable
hesm-20220331_htm.xml Edgar Link completed
hesm-20220331_lab.xml Edgar Link unprocessable
hesm-20220331_pre.xml Edgar Link unprocessable
hesm-ex31_1.htm Edgar Link pending
hesm-ex31_2.htm Edgar Link pending
hesm-ex32_1.htm Edgar Link pending
hesm-ex32_2.htm Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending