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
| 6/30/2023 Q2 | 3/31/2023 Q1 | 12/31/2022 Q4 | 9/30/2022 Q3 | 6/30/2022 Q2 | 3/31/2022 Q1 | 12/31/2021 Q4 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 7,105 | 10,917 | 15,551 | 14,884 | 15,016 | 14,381 | |||
| Cash and cash equivalents | 7,105 | 10,917 | 15,551 | 14,884 | 15,016 | 14,381 | |||
| Receivables | 86,730 | 79,803 | 87,624 | 72,552 | 59,527 | 68,899 | |||
| Contract with customer, asset, after allowance for credit loss | 8,669 | 6,672 | 6,700 | 6,727 | 6,682 | 6,637 | |||
| Other undisclosed current assets | 3,265 | 5,725 | 3,118 | 5,242 | 5,023 | 4,396 | |||
| Total current assets: | 105,769 | 103,117 | 112,993 | 99,405 | 86,248 | 94,313 | |||
| Noncurrent Assets | |||||||||
| Finance lease, right-of-use asset, after accumulated amortization | 3,716 | 3,670 | 3,123 | 2,147 | 2,349 | 2,399 | |||
| Operating lease, right-of-use asset | 2,078 | 2,317 | 2,457 | 2,502 | 2,727 | 2,275 | |||
| Net investment in lease, before allowance for credit loss | 524,564 | 539,705 | 539,394 | 542,281 | 543,623 | 309,303 | |||
| Long-term investments and receivables | 274,142 | 270,604 | 266,186 | 280,472 | 292,028 | 116,378 | |||
| Long-term investments | 274,142 | 270,604 | 266,186 | 280,472 | 292,028 | 116,378 | |||
| Intangible assets, net (including goodwill) | 398,973 | 402,062 | 384,809 | 380,722 | 377,193 | 296,957 | |||
| Goodwill | 342,762 | 342,762 | 322,007 | 314,418 | 307,387 | 223,650 | |||
| Intangible assets, net (excluding goodwill) | 56,211 | 59,300 | 62,802 | 66,304 | 69,806 | 73,307 | |||
| Other noncurrent assets | 18,251 | 16,655 | 16,842 | 17,351 | 14,414 | 17,613 | |||
| Other undisclosed noncurrent assets | 1,405,607 | 1,409,372 | 1,439,167 | 1,450,158 | 1,458,694 | 1,326,629 | |||
| Total noncurrent assets: | 2,627,331 | 2,644,385 | 2,651,978 | 2,675,633 | 2,691,028 | 2,071,554 | |||
| TOTAL ASSETS: | 2,733,100 | 2,747,502 | 2,764,971 | 2,775,038 | 2,777,276 | 2,165,867 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 52,772 | 65,950 | 101,331 | 88,016 | 55,482 | 56,080 | |||
| Interest and dividends payable | ✕ | ✕ | ✕ | 17,922 | 17,963 | 5,736 | 11,258 | ||
| Taxes payable | ✕ | ✕ | ✕ | 10,603 | 7,145 | 7,189 | 4,542 | ||
| Accounts payable | 28,104 | 42,509 | 44,281 | 37,800 | 42,557 | 40,280 | |||
| Accrued liabilities | 24,668 | 23,441 | 28,525 | 25,108 | |||||
| Deferred revenue | 15,316 | 12,087 | 11,923 | 13,770 | 14,563 | 14,585 | |||
| Debt | 4,608 | 4,389 | 4,177 | 3,857 | 3,825 | 3,786 | |||
| Other liabilities | 3,048 | 2,430 | 2,551 | 2,648 | 2,512 | 1,781 | |||
| Other undisclosed current liabilities | 886 | 968 | (27,559) | (24,145) | 1,000 | 620 | |||
| Total current liabilities: | 76,630 | 85,824 | 92,423 | 84,146 | 77,382 | 76,852 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 1,602,030 | 1,618,847 | 1,658,536 | 1,673,304 | 1,700,339 | 1,399,728 | |||
| Long-term debt, excluding current maturities | 1,540,385 | 1,556,334 | 1,593,797 | 1,608,460 | 1,634,367 | 1,333,049 | |||
| Finance lease, liability | 61,645 | 62,513 | 62,790 | 62,838 | 63,765 | 64,649 | |||
| Liabilities, other than long-term debt | 53,259 | 55,444 | 49,982 | 51,937 | 48,710 | 42,189 | |||
| Deferred revenue | 21,963 | 24,613 | 26,752 | 28,865 | 29,802 | 29,662 | |||
| Other liabilities | 29,733 | 29,111 | 23,230 | 23,072 | 18,908 | 12,527 | |||
| Operating lease, liability | 1,563 | 1,720 | 1,949 | 2,006 | 2,207 | 2,030 | |||
| Total noncurrent liabilities: | 1,655,289 | 1,674,291 | 1,708,518 | 1,725,241 | 1,749,049 | 1,441,917 | |||
| Total liabilities: | 1,731,919 | 1,760,115 | 1,800,941 | 1,809,387 | 1,826,431 | 1,518,769 | |||
| Temporary equity, carrying amount | 61,531 | 60,507 | 59,484 | 58,461 | 57,505 | 56,549 | |||
| Equity | |||||||||
| Equity, attributable to noncontrolling interest | 68,956 | 69,754 | 69,368 | 69,405 | 71,731 | 147,532 | |||
| Other undisclosed equity | 870,694 | 857,126 | 835,178 | 837,785 | 821,609 | 443,017 | |||
| Total equity: | 939,650 | 926,880 | 904,546 | 907,190 | 893,340 | 590,549 | |||
| TOTAL LIABILITIES AND EQUITY: | 2,733,100 | 2,747,502 | 2,764,971 | 2,775,038 | 2,777,276 | 2,165,867 | |||
Income Statement (P&L) ($ in thousands)Annual | Quarterly
| 6/30/2023 Q2 | 3/31/2023 Q1 | 12/31/2022 Q4 | 9/30/2022 Q3 | 6/30/2022 Q2 | 3/31/2022 Q1 | 12/31/2021 Q4 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 143,294 | 142,510 | 149,002 | 135,770 | 120,198 | 118,493 | ||
| Sales-type lease, interest income | (59,633) | 23,695 | 23,814 | 12,123 | 9,407 | |||
| Operating lease, lease income | 87,377 | 86,490 | 92,697 | 82,445 | 72,914 | 77,185 | ||
| Gross profit: | 143,294 | 142,510 | 149,002 | 135,770 | 120,198 | 118,493 | ||
| Operating expenses | (81,440) | (82,582) | (89,457) | (85,555) | (69,124) | (69,177) | ||
| Operating income: | 61,854 | 59,928 | 59,545 | 50,215 | 51,074 | 49,316 | ||
| Nonoperating income (expense) | (1,523) | 11,614 | (14,571) | 9,476 | 2,735 | 447 | ||
| Other nonoperating income | 173 | 28 | 494 | 45 | 101 | 185 | ||
| Interest and debt expense | (25,978) | (25,609) | (22,965) | (20,347) | (13,639) | (13,223) | ||
| Income from continuing operations before equity method investments, income taxes: | 34,353 | 45,933 | 22,009 | 39,344 | 40,170 | 36,540 | ||
| Other undisclosed income from continuing operations before income taxes | 25,978 | 25,609 | 22,965 | 20,347 | 13,639 | 13,223 | ||
| Income from continuing operations before income taxes: | 60,331 | 71,542 | 44,974 | 59,691 | 53,809 | 49,763 | ||
| Income tax expense (benefit) | (34) | (28) | (38) | (14) | (31) | 28 | ||
| Income from continuing operations: | 60,297 | 71,514 | 44,936 | 59,677 | 53,778 | 49,791 | ||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | 44,936 | 59,677 | 53,778 | 49,791 | |
| Net income: | 60,297 | 71,514 | 44,936 | 59,677 | 53,778 | 49,791 | ||
| Net loss attributable to noncontrolling interest | (2,775) | (3,033) | (2,985) | (2,885) | (4,219) | (4,147) | ||
| Net income attributable to parent: | 57,522 | 68,481 | 41,951 | 56,792 | 49,559 | 45,644 | ||
| Undistributed earnings (loss) allocated to participating securities, basic | (73) | (120) | (75) | (107) | (111) | (157) | ||
| Net income available to common stockholders, diluted: | 57,449 | 68,361 | 41,876 | 56,685 | 49,448 | 45,487 | ||
Comprehensive Income ($ in thousands)Annual | Quarterly
| 6/30/2023 Q2 | 3/31/2023 Q1 | 12/31/2022 Q4 | 9/30/2022 Q3 | 6/30/2022 Q2 | 3/31/2022 Q1 | 12/31/2021 Q4 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 60,297 | 71,514 | 44,936 | 59,677 | 53,778 | 49,791 | ||
| Comprehensive income: | 60,297 | 71,514 | 44,936 | 59,677 | 53,778 | 49,791 | ||
| Comprehensive loss, net of tax, attributable to noncontrolling interest | (2,775) | (3,033) | (2,985) | (2,885) | (4,219) | (4,147) | ||
| Comprehensive income, net of tax, attributable to parent: | 57,522 | 68,481 | 41,951 | 56,792 | 49,559 | 45,644 | ||
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.