$HESM
Hess Midstream LP

2024 Q1 Form 10-K Financial Statement

#000095017024023098 Filed on February 29, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $355.6M $356.5M $1.349B
YoY Change 16.59% 13.32% 5.76%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $83.80M $96.00M $339.2M
YoY Change 21.63% 33.7% 12.06%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $49.80M $50.40M $192.5M
YoY Change 5.06% 8.62% 6.18%
% of Gross Profit
Operating Expenses $133.6M $146.4M $531.7M
YoY Change 14.88% 23.86% 9.86%
Operating Profit $222.0M $816.9M
YoY Change 17.65% 3.25%
Interest Expense -$45.80M -$45.40M -$171.3M
YoY Change 10.1% 14.65% 18.96%
% of Operating Profit -20.63% -20.97%
Other Income/Expense, Net
YoY Change
Pretax Income $176.2M $164.7M $645.6M
YoY Change 18.49% 5.04% -0.25%
Income Tax $14.30M $11.90M $37.90M
% Of Pretax Income 8.12% 7.23% 5.87%
Net Earnings $44.60M $37.50M $118.6M
YoY Change 115.46% 72.02% 41.36%
Net Earnings / Revenue 12.54% 10.52% 8.79%
Basic Earnings Per Share
Diluted Earnings Per Share $0.59 $0.55 $2.11
COMMON SHARES
Basic Shares Outstanding 79.87M 68.36M
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.200M $5.400M $5.400M
YoY Change 16.67% 74.19% 74.19%
Cash & Equivalents $4.200M $5.400M $5.400M
Short-Term Investments
Other Short-Term Assets $4.500M $7.000M $7.000M
YoY Change 18.42% 12.9% 12.9%
Inventory
Prepaid Expenses
Receivables $127.8M $122.5M $124.4M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $139.3M $136.8M $136.8M
YoY Change 19.47% 3.4% 3.4%
LONG-TERM ASSETS
Property, Plant & Equipment $3.215B $3.229B $3.229B
YoY Change 1.01% 1.78% 1.78%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $89.40M $90.20M $90.20M
YoY Change -3.77% -3.94% -3.94%
Other Assets $8.400M $8.600M $333.0M
YoY Change -20.75% -23.89% 76.66%
Total Long-Term Assets $3.724B $3.653B $3.653B
YoY Change 7.56% 5.69% 5.69%
TOTAL ASSETS
Total Short-Term Assets $139.3M $136.8M $136.8M
Total Long-Term Assets $3.724B $3.653B $3.653B
Total Assets $3.863B $3.790B $3.790B
YoY Change 7.94% 5.61% 5.61%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $21.20M $41.20M $79.70M
YoY Change -64.07% -34.29% 27.11%
Accrued Expenses $86.10M $105.9M $117.4M
YoY Change 21.44% 27.74% 41.62%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $15.00M $12.50M $12.50M
YoY Change 200.0% 400.0% 400.0%
Total Short-Term Liabilities $157.2M $210.2M $210.2M
YoY Change 13.5% 31.79% 31.79%
LONG-TERM LIABILITIES
Long-Term Debt $3.310B $3.199B $3.199B
YoY Change 10.9% 10.95% 10.95%
Other Long-Term Liabilities $13.10M $16.70M $16.70M
YoY Change -18.13% 3.73% 3.73%
Total Long-Term Liabilities $3.324B $3.216B $3.216B
YoY Change 10.74% 10.91% 10.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $157.2M $210.2M $210.2M
Total Long-Term Liabilities $3.324B $3.216B $3.216B
Total Liabilities $3.481B $3.426B $3.449B
YoY Change 10.86% 12.0% 3.18%
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 $404.3M $340.2M $340.2M
YoY Change
Total Liabilities & Shareholders Equity $3.863B $3.790B $3.790B
YoY Change 7.94% 5.61% 5.61%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $44.60M $37.50M $118.6M
YoY Change 115.46% 72.02% 41.36%
Depreciation, Depletion And Amortization $49.80M $50.40M $192.5M
YoY Change 5.06% 8.62% 6.18%
Cash From Operating Activities $185.3M $247.6M $866.4M
YoY Change -6.74% 11.23% 0.62%
INVESTING ACTIVITIES
Capital Expenditures $54.80M $63.50M $223.5M
YoY Change -14.77% 3.08% -6.17%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$54.80M -$63.50M -$223.5M
YoY Change -14.77% 3.08% -6.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -131.7M -182.0M -640.6M
YoY Change -1.64% 13.4% 2.99%
NET CHANGE
Cash From Operating Activities 185.3M 247.6M 866.4M
Cash From Investing Activities -54.80M -63.50M -223.5M
Cash From Financing Activities -131.7M -182.0M -640.6M
Net Change In Cash -1.200M 2.100M 2.300M
YoY Change -340.0% 320.0% 155.56%
FREE CASH FLOW
Cash From Operating Activities $185.3M $247.6M $866.4M
Capital Expenditures $54.80M $63.50M $223.5M
Free Cash Flow $130.5M $184.1M $642.9M
YoY Change -2.9% 14.35% 3.21%

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CY2022 us-gaap Increase Decrease In Due To Affiliates Current
IncreaseDecreaseInDueToAffiliatesCurrent
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CY2021 us-gaap Increase Decrease In Due To Affiliates Current
IncreaseDecreaseInDueToAffiliatesCurrent
9700000
CY2023 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
4000000
CY2022 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
9100000
CY2021 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
9200000
CY2023 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-1900000
CY2022 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
2200000
CY2021 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-1700000
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
866400000
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
861100000
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
795500000
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
223500000
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
238200000
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
163200000
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-223500000
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-238200000
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-163200000
CY2023 us-gaap Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess
322000000
CY2022 us-gaap Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess
-86000000
CY2021 us-gaap Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess
-80000000
CY2022 us-gaap Proceeds From Short Term Debt Maturing In More Than Three Months
ProceedsFromShortTermDebtMaturingInMoreThanThreeMonths
20000000
CY2023 us-gaap Repayments Of Short Term Debt Maturing In More Than Three Months
RepaymentsOfShortTermDebtMaturingInMoreThanThreeMonths
2500000
CY2022 us-gaap Repayments Of Short Term Debt Maturing In More Than Three Months
RepaymentsOfShortTermDebtMaturingInMoreThanThreeMonths
10000000
CY2021 us-gaap Repayments Of Short Term Debt Maturing In More Than Three Months
RepaymentsOfShortTermDebtMaturingInMoreThanThreeMonths
10000000
CY2022 us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
400000000
CY2021 us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
750000000
CY2022 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
13300000
CY2021 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
11600000
CY2023 hesm Payment Of Transaction Costs
PaymentOfTransactionCosts
3100000
CY2022 hesm Payment Of Transaction Costs
PaymentOfTransactionCosts
1500000
CY2021 hesm Payment Of Transaction Costs
PaymentOfTransactionCosts
2100000
CY2023 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
400000000
CY2022 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
400000000
CY2021 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
750000000
CY2023 hesm Payments Of Distribution To Shareholders Unitholders
PaymentsOfDistributionToShareholdersUnitholders
127500000
CY2022 hesm Payments Of Distribution To Shareholders Unitholders
PaymentsOfDistributionToShareholdersUnitholders
91000000
CY2021 hesm Payments Of Distribution To Shareholders Unitholders
PaymentsOfDistributionToShareholdersUnitholders
49400000
CY2023 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
429500000
CY2022 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
440200000
CY2021 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
479600000
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-640600000
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-622000000
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-632700000
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
2300000
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
900000
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-400000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
3100000
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
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
5400000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
3100000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2200000
CY2023 hesm Increase Decrease In Accrued Capital Expenditures And Related Liabilities
IncreaseDecreaseInAccruedCapitalExpendituresAndRelatedLiabilities
-22200000
CY2022 hesm Increase Decrease In Accrued Capital Expenditures And Related Liabilities
IncreaseDecreaseInAccruedCapitalExpendituresAndRelatedLiabilities
6500000
CY2021 hesm Increase Decrease In Accrued Capital Expenditures And Related Liabilities
IncreaseDecreaseInAccruedCapitalExpendituresAndRelatedLiabilities
-19800000
CY2023 hesm Recognition Of Non Cash Deferred Tax Asset
RecognitionOfNonCashDeferredTaxAsset
185100000
CY2022 hesm Recognition Of Non Cash Deferred Tax Asset
RecognitionOfNonCashDeferredTaxAsset
86400000
CY2021 hesm Recognition Of Non Cash Deferred Tax Asset
RecognitionOfNonCashDeferredTaxAsset
89000000
CY2022 hesm Payment For Acquisition Contingent Liability Adjustment
PaymentForAcquisitionContingentLiabilityAdjustment
-2900000
CY2021 hesm Payment For Acquisition Contingent Liability Adjustment
PaymentForAcquisitionContingentLiabilityAdjustment
-4100000
CY2023 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3
CY2023Q4 hesm Natural Gas Processing Capacity Expansion
NaturalGasProcessingCapacityExpansion
70
CY2022Q4 hesm Natural Gas Processing Capacity Expansion
NaturalGasProcessingCapacityExpansion
85
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:2%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:6pt;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> We prepare our consolidated financial statements in conformity with the U.S. GAAP, which require management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the years presented. Changes in facts and circumstances may result in revised estimates and actual results could differ from those estimates.</span></p>
CY2022 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2021 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2022 us-gaap Revenues
Revenues
1275200000
CY2021 us-gaap Revenues
Revenues
1203800000
CY2023 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0
CY2022 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2023 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2022 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2023 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2023 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1346100000
CY2022 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1273200000
CY2021 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1203800000
CY2023 us-gaap Other Income
OtherIncome
2500000
CY2022 us-gaap Other Income
OtherIncome
2000000
CY2023 us-gaap Revenues
Revenues
1348600000
CY2023 hesm Costs Incurred To Repurchase Shares Were Charged To Equity
CostsIncurredToRepurchaseSharesWereChargedToEquity
3300000
CY2022 hesm Costs Incurred To Repurchase Shares Were Charged To Equity
CostsIncurredToRepurchaseSharesWereChargedToEquity
1500000
CY2021 hesm Costs Incurred To Repurchase Shares Were Charged To Equity
CostsIncurredToRepurchaseSharesWereChargedToEquity
2100000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4818700000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4570500000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1589500000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1397700000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3229200000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3172800000
CY2023Q4 hesm Accrued Capital Expenditures Current
AccruedCapitalExpendituresCurrent
42900000
CY2022Q4 hesm Accrued Capital Expenditures Current
AccruedCapitalExpendituresCurrent
24100000
CY2023Q4 us-gaap Interest Payable Current
InterestPayableCurrent
35800000
CY2022Q4 us-gaap Interest Payable Current
InterestPayableCurrent
35400000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
27200000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
23400000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
105900000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
82900000
CY2023 hesm Conversion Of Units And Stock Into Share Converted Ratio
ConversionOfUnitsAndStockIntoShareConvertedRatio
1
CY2023Q4 hesm Property And Sales And Use Tax Payable
PropertyAndSalesAndUseTaxPayable
11500000
CY2022Q4 hesm Property And Sales And Use Tax Payable
PropertyAndSalesAndUseTaxPayable
10700000
CY2023Q4 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
600000
CY2022Q4 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
700000
CY2023Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
12100000
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
11400000
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3237500000
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
2918000000
CY2023Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
26100000
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
32400000
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
3211400000
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
2885600000
CY2023Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
12500000
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
2500000
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
3198900000
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2883100000
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3237500000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
12500000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
22500000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
832500000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
670000000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
550000000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
1150000000
CY2023 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.
CY2023 hesm Ratio Of Debt To Ebitda
RatioOfDebtToEBITDA
5
CY2023 hesm Leverage Ratio
LeverageRatio
5.5
CY2023 hesm Secured Leverage Ratio
SecuredLeverageRatio
4
CY2023 us-gaap Line Of Credit Facility Periodic Payment Interest
LineOfCreditFacilityPeriodicPaymentInterest
170600000
CY2022 us-gaap Line Of Credit Facility Periodic Payment Interest
LineOfCreditFacilityPeriodicPaymentInterest
136800000
CY2021 us-gaap Line Of Credit Facility Periodic Payment Interest
LineOfCreditFacilityPeriodicPaymentInterest
84500000
CY2020Q4 us-gaap Limited Partners Capital Account Units Outstanding
LimitedPartnersCapitalAccountUnitsOutstanding
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CY2021 us-gaap Partners Capital Account Units Unitbased Compensation
PartnersCapitalAccountUnitsUnitbasedCompensation
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CY2021 us-gaap Partners Capital Account Units Treasury
PartnersCapitalAccountUnitsTreasury
31250000
CY2021Q4 us-gaap Limited Partners Capital Account Units Outstanding
LimitedPartnersCapitalAccountUnitsOutstanding
253313996
CY2022 us-gaap Partners Capital Account Units Unitbased Compensation
PartnersCapitalAccountUnitsUnitbasedCompensation
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CY2022 us-gaap Partners Capital Account Units Treasury
PartnersCapitalAccountUnitsTreasury
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CY2022Q4 us-gaap Limited Partners Capital Account Units Outstanding
LimitedPartnersCapitalAccountUnitsOutstanding
239850452
CY2023 us-gaap Partners Capital Account Units Unitbased Compensation
PartnersCapitalAccountUnitsUnitbasedCompensation
99801
CY2023Q4 us-gaap Limited Partners Capital Account Units Outstanding
LimitedPartnersCapitalAccountUnitsOutstanding
226309088
CY2023 hesm Period Of Distribution Of Cash To Shareholders
PeriodOfDistributionOfCashToShareholders
P45D
CY2023 us-gaap Profit Loss
ProfitLoss
607700000
CY2022 us-gaap Profit Loss
ProfitLoss
620600000
CY2021 us-gaap Profit Loss
ProfitLoss
617800000
CY2023 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
489100000
CY2022 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
536700000
CY2021 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
571400000
CY2023 us-gaap Net Income Loss
NetIncomeLoss
118600000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
83900000
CY2021 us-gaap Net Income Loss
NetIncomeLoss
46400000
CY2023 us-gaap Net Income Loss
NetIncomeLoss
118600000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
83900000
CY2021 us-gaap Net Income Loss
NetIncomeLoss
46400000
CY2023 hesm Effect Of Exchange Of Units Of Partnership And Equal Number Shares Of Common Stocks
EffectOfExchangeOfUnitsOfPartnershipAndEqualNumberSharesOfCommonStocks
489100000
CY2022 hesm Effect Of Exchange Of Units Of Partnership And Equal Number Shares Of Common Stocks
EffectOfExchangeOfUnitsOfPartnershipAndEqualNumberSharesOfCommonStocks
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CY2021 hesm Effect Of Exchange Of Units Of Partnership And Equal Number Shares Of Common Stocks
EffectOfExchangeOfUnitsOfPartnershipAndEqualNumberSharesOfCommonStocks
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CY2023 hesm Effect Of Income Tax Expense On Additional Income Attributable To Hess Midstream
EffectOfIncomeTaxExpenseOnAdditionalIncomeAttributableToHessMidstream
119300000
CY2022 hesm Effect Of Income Tax Expense On Additional Income Attributable To Hess Midstream
EffectOfIncomeTaxExpenseOnAdditionalIncomeAttributableToHessMidstream
130900000
CY2021 hesm Effect Of Income Tax Expense On Additional Income Attributable To Hess Midstream
EffectOfIncomeTaxExpenseOnAdditionalIncomeAttributableToHessMidstream
139400000
CY2023 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
488400000
CY2022 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
489700000
CY2021 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
478400000
CY2023 hesm Federal And State Income Tax Rate
FederalAndStateIncomeTaxRate
0.2439
CY2022Q3 hesm No Of Produced Water Released
NoOfProducedWaterReleased
34000
CY2023Q4 us-gaap Accrued Environmental Loss Contingencies Current
AccruedEnvironmentalLossContingenciesCurrent
1700000
CY2023Q4 us-gaap Accrued Environmental Loss Contingencies Noncurrent
AccruedEnvironmentalLossContingenciesNoncurrent
5300000
CY2022Q4 us-gaap Accrued Environmental Loss Contingencies Current
AccruedEnvironmentalLossContingenciesCurrent
1400000
CY2022Q4 us-gaap Accrued Environmental Loss Contingencies Noncurrent
AccruedEnvironmentalLossContingenciesNoncurrent
4300000
CY2023Q4 us-gaap Loss Contingency Accrual Carrying Value Current
LossContingencyAccrualCarryingValueCurrent
0
CY2022Q4 us-gaap Loss Contingency Accrual Carrying Value Current
LossContingencyAccrualCarryingValueCurrent
0
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
0
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
0
CY2023Q4 us-gaap Recorded Unconditional Purchase Obligation Due Within One Year
RecordedUnconditionalPurchaseObligationDueWithinOneYear
15800000
CY2023Q4 hesm Recorded Unconditional Purchase Obligation Due Thereafter
RecordedUnconditionalPurchaseObligationDueThereafter
0
CY2023 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2023Q4 hesm Number Of Crude Oil Rail Cars
NumberOfCrudeOilRailCars
550
CY2023 us-gaap Revenues
Revenues
1348600000
CY2023 us-gaap Profit Loss
ProfitLoss
607700000
CY2023 us-gaap Net Income Loss
NetIncomeLoss
118600000
CY2023 us-gaap Depreciation
Depreciation
192500000
CY2023 hesm Proportional Share Of Equity Affiliates Depreciation
ProportionalShareOfEquityAffiliatesDepreciation
5100000
CY2023 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
7700000
CY2023 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-179000000
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
37900000
CY2023 hesm Income Loss From Continuing Operations Before Interest Income Taxes Depreciation And Amortization
IncomeLossFromContinuingOperationsBeforeInterestIncomeTaxesDepreciationAndAmortization
1022200000
CY2023 us-gaap Property Plant And Equipment Gross Period Increase Decrease
PropertyPlantAndEquipmentGrossPeriodIncreaseDecrease
245700000
CY2022 us-gaap Revenues
Revenues
1275200000
CY2022 us-gaap Profit Loss
ProfitLoss
620600000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
83900000
CY2022 us-gaap Depreciation
Depreciation
181300000
CY2022 hesm Proportional Share Of Equity Affiliates Depreciation
ProportionalShareOfEquityAffiliatesDepreciation
5100000
CY2022 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
5300000
CY2022 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-149300000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
26600000
CY2022 hesm Income Loss From Continuing Operations Before Interest Income Taxes Depreciation And Amortization
IncomeLossFromContinuingOperationsBeforeInterestIncomeTaxesDepreciationAndAmortization
982900000
CY2022 us-gaap Property Plant And Equipment Gross Period Increase Decrease
PropertyPlantAndEquipmentGrossPeriodIncreaseDecrease
231800000
CY2021 us-gaap Revenues
Revenues
1203800000
CY2021 us-gaap Profit Loss
ProfitLoss
617800000
CY2021 us-gaap Net Income Loss
NetIncomeLoss
46400000
CY2021 us-gaap Depreciation
Depreciation
165600000
CY2021 hesm Proportional Share Of Equity Affiliates Depreciation
ProportionalShareOfEquityAffiliatesDepreciation
5100000
CY2021 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
10600000
CY2021 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-105400000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
14600000
CY2021 hesm Income Loss From Continuing Operations Before Interest Income Taxes Depreciation And Amortization
IncomeLossFromContinuingOperationsBeforeInterestIncomeTaxesDepreciationAndAmortization
908500000
CY2021 us-gaap Property Plant And Equipment Gross Period Increase Decrease
PropertyPlantAndEquipmentGrossPeriodIncreaseDecrease
183000000
CY2023Q4 us-gaap Assets
Assets
3789500000
CY2022Q4 us-gaap Assets
Assets
3588200000
CY2023 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
100000
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
100000
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
100000
CY2023 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
31200000
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
22800000
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
12500000
CY2023 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
6600000
CY2022 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
3700000
CY2021 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
2000000
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
37900000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
26600000
CY2021 us-gaap Income Tax Expense Benefit
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CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
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CY2023 hesm Operating Loss Carryforward Expiration Year
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CY2023Q4 us-gaap Unrecognized Tax Benefits
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CY2023Q4 ecd Rule10b51 Arr Adopted Flag
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CY2023Q4 ecd Non Rule10b51 Arr Trmntd Flag
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false

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