Hess Midstream adopts new segment reporting standard; recasts prior periods

Hess Midstream LP

Early adoption of ASU 2023-07 effective April 1, 2024; no restatement of prior financials.
CODM (CEO & CFO) uses segment Adjusted EBITDA to evaluate three segments: gathering, processing & storage, terminaling & export.
Recast segment disclosures provided for FY 2023 and prior quarterly periods in 2023.

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