HESM: the cash flow

MyFinsight

For the year ending 2025-12-31, HESM had -$2,400K decrease in cash & cash equivalents over the period. $728,200K in free cash flow.

Cash Flow	2025-12-31
Net income	684,600
Depreciation expense	214,100
Income from equity investments	15,900
Distributions from equity investments	21,400
Amortization of deferred financing costs	14,100
Equity-based compensation expense	1,600
Deferred income tax expense	113,700
Accounts receivable - trade	3,100
Accounts receivable affiliate	8,000
Other current and noncurrent assets	400
Accounts payable trade	-31,000
Accounts payable affiliate	-9,400
Accrued liabilities	6,400
Other current and noncurrent liabilities	-4,300
Net cash provided by operating activities	983,800
Additions to property, plant and equipment	255,600
Net cash used in investing activities	-255,600
Net proceeds from (repayments of) borrowings with maturities of 90 days or less	323,000
Proceeds	800,000
Repayments	822,500
Deferred financing costs	12,500
Transaction costs	2,900
Share and unit repurchases	400,000
Distributions to shareholders	350,200
Distributions to noncontrolling interest	265,500
Net cash used in financing activities	-730,600
Increase (decrease) in cash and cash equivalents	-2,400
Cash and cash equivalents, beginning of period	4,300
Cash and cash equivalents, end of period	1,900

Unit: Thousand (K) dollars (except for numbers of shares and EPS).