Earnings per Share (Tables)

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Schedule of 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.

	Year Ended December 31,
(in millions, except per share amounts)	2022		2021		2020
Net income		620.6		617.8		484.9
Less: Net income attributable to noncontrolling interest		536.7		571.4		460.9
Net income attributable to Hess Midstream LP		83.9		46.4		24.0
Net income attributable to Hess Midstream LP    per Class A share:
Basic:	$	2.03	$	1.81	$	1.33
Diluted:	$	2.01	$	1.76	$	1.31
Weighted average Class A shares outstanding:
Basic:		41.3		25.6		18.0
Diluted:		41.4		25.7		18.1

Summary of Reconciliation of Numerator and Denominator of Diluted Earnings

A reconciliation of the numerator and the denominator of the diluted earnings per Class A Share calculation under the “if-converted” method for the year ended December 31, 2021, is presented below:

	Year Ended December 31,
	2021
(in millions, except per share data)
Diluted net income per share
Numerator:
Net income attributable to Hess Midstream LP	$	46.4
Effect of exchange of Class B Units of the Partnership and    the equal number of Class B Shares of the Company to    Class A Shares of the Company		571.4
Effect of income tax expense on additional income attributable    to Hess Midstream LP(1)		(139.4	)
Diluted net income attributable to Hess Midstream LP	$	478.4
Denominator:
Basic weighted average Class A Shares outstanding		25.6
Effect of dilutive securities:
Weighted average Class B Units/Shares		246.7
Restricted equity-based awards		0.1
Diluted weighted average shares outstanding		272.4
Diluted net income attributable to Hess Midstream LP    per Class A Share	$	1.76

(1) Income tax effect is calculated assuming 24.39% blended U.S. federal and state income tax rate.