Holly Energy Partners, L.P. (HEP) Financial Statements (2023 and earlier)

Company Profile

Business Address 2828 N. HARWOOD
DALLAS, TX 75201
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 461 - Pipelines, Except Natural Gas (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)
Annual | Quarterly

3/31/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments10,91714,38121,99013,2873,0457,776
Cash and cash equivalents10,91714,38121,99013,2873,0457,776
Receivables79,80368,89962,51568,44759,11864,304
Contract with customer, asset, after allowance for credit loss6,6726,6376,3065,6751,818✕
Other undisclosed current assets5,7254,3963,1811,9542,4932,311
Total current assets:103,11794,31393,99289,36366,47474,391
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization3,6702,399  ✕✕
Operating lease, right-of-use asset2,3172,2752,9793,255✕✕
Net investment in lease, before allowance for credit loss539,705309,303166,316134,886✕✕
Property, plant and equipment   1,450,6851,467,0991,538,6551,569,471
Long-term investments and receivables270,604116,378120,544120,07183,84085,279
Long-term investments270,604116,378120,544120,07183,84085,279
Intangible assets, net (including goodwill)402,062296,957321,999371,658385,665396,179
Goodwill342,762223,650234,684270,336270,336266,716
Intangible assets, net (excluding goodwill)59,30073,30787,315101,322115,329129,463
Other noncurrent assets16,65517,61311,05012,90027,90628,794
Other undisclosed noncurrent assets1,409,3721,326,629    
Total noncurrent assets:2,644,3852,071,5542,073,5732,109,8692,036,0662,079,723
TOTAL ASSETS:2,747,5022,165,8672,167,5652,199,2322,102,5402,154,114
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities65,95056,08061,28451,56045,73840,180
Interest and dividends payable✕✕11,25810,89213,20613,30213,256
Taxes payable✕✕4,5423,9923,7991,7794,652
Accounts payable42,50940,28046,40034,55530,65722,272
Accrued liabilities23,441     
Deferred revenue12,08714,58511,36810,390✕✕
Debt4,3893,7863,7134,350  
Deferred revenue and credits✕✕✕✕✕✕9,598
Contract with customer, liability✕✕✕✕✕8,697✕
Other liabilities2,4301,7812,5052,3053,4625,707
Other undisclosed current liabilities968620875   
Total current liabilities:85,82476,85279,74568,60557,89755,485
Noncurrent Liabilities
Long-term debt and lease obligation1,618,8471,399,7281,476,1261,534,9881,418,9001,507,308
Long-term debt, excluding current maturities1,556,3341,333,0491,405,6031,462,0311,418,9001,507,308
Finance lease, liability62,51364,64968,04770,475✕✕
Liabilities, other than long-term debt55,44442,18953,48661,98968,32168,115
Deferred revenue and credits✕✕✕✕✕✕47,272
Deferred revenue24,61329,66240,58145,681✕✕
Contract with customer, liability✕✕✕✕✕48,714✕
Accrued environmental loss contingencies    3,5004,3005,000
Other liabilities29,11112,52712,90512,80815,30715,843
Operating lease, liability1,7202,0302,4762,482✕✕
Other undisclosed noncurrent liabilities   52,85045,89241,86138,141
Total noncurrent liabilities:1,674,2911,441,9171,582,4621,642,8691,529,0821,613,564
Total liabilities:1,760,1151,518,7691,662,2071,711,4741,586,9791,669,049
Temporary equity, carrying amount60,50756,549    
Equity
Equity, attributable to noncontrolling interest69,754147,532126,066106,65588,12691,106
Other undisclosed equity857,126443,017379,292381,103427,435393,959
Total equity:926,880590,549505,358487,758515,561485,065
TOTAL LIABILITIES AND EQUITY:2,747,5022,165,8672,167,5652,199,2322,102,5402,154,114

Income Statement (P&L) ($ in thousands)
Annual | Quarterly

3/31/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues547,480494,495497,848532,777506,220454,362
Operating leases, income statement, lease revenue✕✕✕✕✕278,600✕
Revenue, net✕✕✕✕✕✕454,362
Operating lease, lease income333,627336,062360,5982,100✕✕
Gross profit:547,480494,495497,848532,777506,220454,362
Operating expenses(326,718)(287,995)(292,912)(268,952)(255,962)(231,206)
Operating income:220,762206,500204,936263,825250,258223,156
Nonoperating income (expense)9,25419,395(25,546)(30,688)(63,845)(20,996)
Other nonoperating income6686,1798,691272121422
Interest and debt expense(82,560)(53,818)(25,915)(76,823)(71,899)12,225
Income from continuing operations before equity method investments, income taxes:147,456172,077153,475156,314114,514214,385
Other undisclosed income (loss) from continuing operations before income taxes82,56053,81825,91576,82371,899(12,225)
Income from continuing operations before income taxes:230,016225,895179,390233,137186,413202,160
Income tax expense(111)(32)(167)(41)(26)(249)
Income from continuing operations:229,905225,863179,223233,096186,387201,911
Income before gain (loss) on sale of properties:✕225,863179,223233,096186,387201,911
Net income:229,905225,863179,223233,096186,387201,911
Net loss attributable to noncontrolling interest(13,122)(10,917)(8,740)(8,212)(7,540)(6,871)
Net income attributable to parent:216,783214,946170,483224,884178,847195,040
Preferred stock dividends and other adjustments      (2,335)
Undistributed earnings (loss) allocated to participating securities, basic(408)(736)(387)   
Net income available to common stockholders, diluted:216,375214,210170,096224,884178,847192,705

Comprehensive Income ($ in thousands)
Annual | Quarterly

3/31/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:229,905225,863179,223233,096186,387201,911
Other comprehensive loss      (91)
Comprehensive income:229,905225,863179,223233,096186,387201,820
Comprehensive loss, net of tax, attributable to noncontrolling interest(13,122)(10,917)(8,740)(8,212)(7,540)(6,871)
Comprehensive income, net of tax, attributable to parent:216,783214,946170,483224,884178,847194,949

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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