Hess Corporation (HES) Financial Statements (2025 and earlier)

Company Profile

Business Address 1185 AVENUE OF THE AMERICAS
NEW YORK, NY 10036
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 2911 - Petroleum Refining (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

9/30/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,6882,4862,7131,7391,5452,694
Cash and cash equivalents1,6882,4862,7131,7391,5452,694
Inventory, net of allowances, customer advances and progress billings304217223378261245
Inventory304217223378261245
Contract with customer, asset, after allowance for credit loss1,1801,0411,062710940771
Other current assets10866199104180519
Other undisclosed current assets150121149150230230
Total current assets:3,4303,9314,3463,0813,1564,459
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization108126144168299
Operating lease, right-of-use asset720570352426447
Property, plant and equipment17,43215,09814,18214,11516,81416,083
Long-term investments and receivables 166183197   
Long-term investments 166183197   
Intangible assets, net (including goodwill)360360360360360360
Goodwill360360360360360360
Deferred income tax assets3201337159 
Other noncurrent assets952829651612626510
Other undisclosed noncurrent assets519465212 8021
Total noncurrent assets:20,57717,76416,16915,74018,62616,974
TOTAL ASSETS:24,00721,69520,51518,82121,78221,433
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities2,5042,1252,4581,5322,3112,136
Taxes payable528819781
Accounts payable402285220200411495
Accrued liabilities2,1021,8401,7101,2511,8031,560
Debt3342453628 67
Other undisclosed current liabilities4322477063199 
Total current liabilities:3,2702,3963,0641,6232,5102,203
Noncurrent Liabilities
Long-term debt and lease obligation, including:8,4588,4578,5358,9847,7336,605
Long-term debt, excluding current maturities8,3028,2787,9418,2867,142 
Finance lease, liability156179200220238
Other undisclosed long-term debt and lease obligation      6,605
Liabilities, other than long-term debt2,6772,3461,8901,8791,4181,737
Asset retirement obligations1,1861,0341,005894897741
Deferred tax liabilities, net421
Deferred income tax liabilities608418383342 
Other liabilities424425502643521575
Operating lease, liability459469394478353
Other undisclosed noncurrent liabilities     415 
Total noncurrent liabilities:11,13510,80310,42510,8639,5668,342
Total liabilities:14,40513,19913,48912,48612,07610,545
Equity
Equity, attributable to parent8,9867,8556,3005,3668,7329,629
Preferred stock      1
Common stock307306310307305291
Additional paid in capital6,4956,2066,0175,6845,5915,386
Accumulated other comprehensive loss(134)(131)(406)(755)(699)(306)
Retained earnings2,3181,4743791303,5354,257
Equity, attributable to noncontrolling interest6166417269699741,259
Total equity:9,6028,4967,0266,3359,70610,888
TOTAL LIABILITIES AND EQUITY:24,00721,69520,51518,82121,78221,433

Income Statement (P&L) ($ in millions)

9/30/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues10,51111,5707,5834,8046,5106,466
Cost of revenue(5,873)(6,041)(4,524)(6,079)(4,655)(4,639)
Gross profit:4,6385,5293,059(1,275)1,8551,827
Operating expenses(2,301)(1,983)(1,569)(1,575)(1,634)(1,607)
Operating income (loss):2,3373,5461,490(2,850)221220
Nonoperating income
(Other Nonoperating income)
132     
Interest and debt expense(478)(493)(481)(468)(380)(452)
Income (loss) from continuing operations before equity method investments, income taxes:1,9913,0531,009(3,318)(159)(232)
Other undisclosed income from continuing operations before income taxes480493481468380452
Income (loss) from continuing operations before income taxes:2,4713,5461,490(2,850)221220
Income tax expense (benefit)(733)(1,099)(600)11(461)(335)
Income (loss) from continuing operations:1,7382,447890(2,839)(240)(115)
Income (loss) before gain (loss) on sale of properties:890(2,839)(240)(115)
Net income (loss):1,7382,447890(2,839)(240)(115)
Net loss attributable to noncontrolling interest    (168)(167)
Other undisclosed net loss attributable to parent(356)(351)(331)(254)  
Net income (loss) attributable to parent:1,3822,096559(3,093)(408)(282)
Preferred stock dividends and other adjustments     (4)(46)
Net income (loss) available to common stockholders, diluted:1,3822,096559(3,093)(412)(328)

Comprehensive Income ($ in millions)

9/30/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income (loss):1,7382,447890(2,839)(240)(115)
Other comprehensive income (loss)(3)275349(56)(393)481
Comprehensive income (loss):1,7352,7221,239(2,895)(633)366
Comprehensive loss, net of tax, attributable to noncontrolling interest(356)(351)(331)(254)(168)(167)
Comprehensive income (loss), net of tax, attributable to parent:1,3792,371908(3,149)(801)199

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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