HOLLY ENERGY PARTNERS LP (HEP) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Third parties	109.2	103.6	98.0	121.0	108.4
Service revenues	213.9	158.4	137.3	154.5	227.6
Pipelines and terminals	891.5	796.2	817.3	864.8	828.8
Affiliated Entity						377.1		289.3
Other						77.2		69.6
Total revenues [+]	547.5	494.5	497.8	532.8	506.2	454.4	526.0	358.9
Other								66.7
Revenue growth [+]	10.7%	-0.7%	-6.6%	5.2%	11.4%	-13.6%	46.6%	7.9%
Third parties	5.4%	5.7%	-19.0%	11.6%
Service revenues	35.0%	15.4%	-11.1%	-32.1%
Pipelines and terminals	12.0%	-2.6%	-5.5%	4.3%
Affiliated Entity								5.1%
Pipelines	8.5%	-1.0%	-9.2%	3.2%	20.6%			16.2%
Cost of goods sold	210.6	170.5	147.7	162.0	146.4	137.6	124.0	105.6
Gross profit	336.9	324.0	350.2	370.8	359.8	316.8	402.0	253.3
Gross margin	61.5%	65.5%	70.3%	69.6%	71.1%	69.7%	76.4%	70.6%
Selling, general and administrative [+]	17.0	12.6	10.0	10.3	11.0	14.3	12.5	12.6
General and administrative	17.0	12.6	10.0	10.3	11.0	14.3	12.5	12.6
Equity in earnings	-0.3	12.4	6.6	5.2	5.8	12.5	14.2	4.8
Other operating expenses	-0.7	-6.2	-8.7	-0.3		-36.7	123.3
EBITDA [+]	320.3	329.9	355.5	366.0	354.6	351.6	280.4	245.6
EBITDA growth	-2.9%	-7.2%	-2.9%	3.2%	0.8%	25.4%	14.2%	12.4%
EBITDA margin	58.5%	66.7%	71.4%	68.7%	70.0%	77.4%	53.3%	68.4%
Depreciation	85.1	79.8	85.6	82.7	84.0	71.7	63.5	56.4
EBITA	235.2	250.1	269.9	283.3	270.6	279.9	216.9	189.2
EBITA margin	43.0%	50.6%	54.2%	53.2%	53.5%	61.6%	41.2%	52.7%
Amortization of intangibles	14.0	14.0	14.0	14.0	14.5	7.6	6.9	6.9
EBIT [+]	221.2	236.1	255.9	269.3	256.1	272.3	210.0	182.3
EBIT growth	-6.3%	-7.7%	-5.0%	5.2%	-6.0%	29.7%	15.2%	16.8%
EBIT margin	40.4%	47.8%	51.4%	50.5%	50.6%	59.9%	39.9%	50.8%
Non-recurring items [+]	0.7	17.2	44.3	0.3		36.7	0.7
Asset impairment		11.0	35.7
Loss (gain) on sale of assets	0.7	6.2	8.7	0.3
Interest expense, net [+]	-8.8	23.9	48.8	71.3	69.8	58.0	52.1	36.9
Interest expense	82.6	53.8	59.4	76.8	71.9	58.4	52.6	37.4
Interest income	91.4	29.9	10.6	5.5	2.1	0.5	0.4	0.5
Other income (expense), net [+]	0.7	30.9	16.6	35.4	0.1	24.5	0.7	0.5
Gain (loss) on debt retirement			-25.9			12.2
Extraordinary gain						36.3
Other	-2.0	-1.9	-1.6	-0.5	0.9	0.9	0.7	4.1
Pre-tax income	230.0	225.9	179.4	233.1	186.4	202.2	157.9	145.9
Income taxes	0.1	0.0	0.2	0.0	0.0	7.1	-0.4	8.6
Tax rate	0.0%	0.0%	0.1%	0.0%	0.0%	3.5%		5.9%
Minority interest	13.1	10.9	8.7	8.2	7.5	6.9	-10.0	-11.1
Net income	216.8	214.9	170.5	224.9	178.8	160.0	101.1	94.9
Net margin	39.6%	43.5%	34.2%	42.2%	35.3%	35.2%	19.2%	26.4%

Basic EPS [+]	$1.77	$2.04	$1.62	$2.13	$1.70	$2.28	$1.69	$1.62
Growth	-13.0%	26.1%	-24.2%	25.3%	-25.2%	34.8%	4.4%	33.9%
Diluted EPS [+]	$1.77	$2.04	$1.62	$2.13	$1.70	$2.28	$1.69	$1.62
Growth	-13.0%	26.1%	-24.2%	25.3%	-25.2%	34.8%	4.4%	33.9%

Dividends per share [+]	$1.39	$1.42	$1.65	$2.59	$2.52	$3.34	$3.21	$2.88
Growth	-1.9%	-14.3%	-36.2%	2.7%	-24.4%	4.0%	11.3%	9.3%

Shares outstanding (basic) [+]	122.3	105.4	105.4	105.4	105.0	70.3	59.9	58.7
Growth	16.0%	0.0%	0.0%	0.4%	49.4%	17.4%	2.1%	0.0%
Shares outstanding (diluted) [+]	122.3	105.4	105.4	105.4	105.0	70.3	59.9	58.7
Growth	16.0%	0.0%	0.0%	0.4%	49.4%	17.4%	2.1%	0.0%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.