Hess Corporation (HES) Financial Statements (2024 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)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 2,486 | 2,713 | 1,739 | 1,545 | 2,694 | 4,847 | |||
| Cash and cash equivalents | 2,486 | 2,713 | 1,739 | 1,545 | 2,694 | 4,847 | |||
| Receivables | 957 | ||||||||
| Inventory, net of allowances, customer advances and progress billings | 217 | 223 | 378 | 261 | 245 | 232 | |||
| Inventory | 217 | 223 | 378 | 261 | 245 | 232 | |||
| Contract with customer, asset, after allowance for credit loss | 1,041 | 1,062 | 710 | 940 | 771 | ✕ | |||
| Other current assets | 66 | 199 | 104 | 180 | 519 | 54 | |||
| Other undisclosed current assets | 121 | 149 | 150 | 230 | 230 | 67 | |||
| Total current assets: | 3,931 | 4,346 | 3,081 | 3,156 | 4,459 | 6,157 | |||
| Noncurrent Assets | |||||||||
| Finance lease, right-of-use asset, after accumulated amortization | 126 | 144 | 168 | 299 | ✕ | ✕ | |||
| Operating lease, right-of-use asset | 570 | 352 | 426 | 447 | ✕ | ✕ | |||
| Property, plant and equipment | 15,098 | 14,182 | 14,115 | 16,814 | 16,083 | 16,192 | |||
| Long-term investments and receivables | 183 | 197 | |||||||
| Long-term investments | 183 | 197 | |||||||
| Intangible assets, net (including goodwill) | 360 | 360 | 360 | 360 | 360 | 360 | |||
| Goodwill | 360 | 360 | 360 | 360 | 360 | 360 | |||
| Deferred income tax assets | 133 | 71 | 59 | ✕ | ✕ | ||||
| Other noncurrent assets | 829 | 651 | 612 | 626 | 510 | 382 | |||
| Other undisclosed noncurrent assets | 465 | 212 | 80 | 21 | 21 | ||||
| Total noncurrent assets: | 17,764 | 16,169 | 15,740 | 18,626 | 16,974 | 16,955 | |||
| TOTAL ASSETS: | 21,695 | 20,515 | 18,821 | 21,782 | 21,433 | 23,112 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 2,125 | 2,458 | 1,532 | 2,311 | 2,136 | 1,855 | |||
| Taxes payable | ✕ | ✕ | 528 | 81 | 97 | 81 | 83 | ||
| Accounts payable | 285 | 220 | 200 | 411 | 495 | 435 | |||
| Accrued liabilities | 1,840 | 1,710 | 1,251 | 1,803 | 1,560 | 1,337 | |||
| Debt | 24 | 536 | 28 | 67 | 580 | ||||
| Other undisclosed current liabilities | 247 | 70 | 63 | 199 | |||||
| Total current liabilities: | 2,396 | 3,064 | 1,623 | 2,510 | 2,203 | 2,435 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation, including: | 8,457 | 8,535 | 8,984 | 7,733 | 6,605 | 6,397 | |||
| Long-term debt, excluding current maturities | 8,278 | 7,941 | 8,286 | 7,142 | 6,397 | ||||
| Finance lease, liability | 179 | 200 | 220 | 238 | ✕ | ✕ | |||
| Other undisclosed long-term debt and lease obligation | 6,605 | ||||||||
| Liabilities, other than long-term debt | 2,346 | 1,890 | 1,879 | 1,418 | 1,737 | 1,926 | |||
| Asset retirement obligations | 1,034 | 1,005 | 894 | 897 | 741 | 753 | |||
| Deferred tax liabilities, net | ✕ | ✕ | ✕ | ✕ | ✕ | 421 | 429 | ||
| Deferred income tax liabilities | 418 | 383 | 342 | ✕ | ✕ | ||||
| Other liabilities | 425 | 502 | 643 | 521 | 575 | 744 | |||
| Operating lease, liability | 469 | 394 | 478 | 353 | ✕ | ✕ | |||
| Other undisclosed noncurrent liabilities | 415 | ||||||||
| Total noncurrent liabilities: | 10,803 | 10,425 | 10,863 | 9,566 | 8,342 | 8,323 | |||
| Total liabilities: | 13,199 | 13,489 | 12,486 | 12,076 | 10,545 | 10,758 | |||
| Equity | |||||||||
| Equity, attributable to parent | 7,855 | 6,300 | 5,366 | 8,732 | 9,629 | 11,051 | |||
| Preferred stock | 1 | 1 | |||||||
| Common stock | 306 | 310 | 307 | 305 | 291 | 315 | |||
| Additional paid in capital | 6,206 | 6,017 | 5,684 | 5,591 | 5,386 | 5,824 | |||
| Accumulated other comprehensive loss | (131) | (406) | (755) | (699) | (306) | (686) | |||
| Retained earnings | 1,474 | 379 | 130 | 3,535 | 4,257 | 5,597 | |||
| Equity, attributable to noncontrolling interest | 641 | 726 | 969 | 974 | 1,259 | 1,303 | |||
| Total equity: | 8,496 | 7,026 | 6,335 | 9,706 | 10,888 | 12,354 | |||
| TOTAL LIABILITIES AND EQUITY: | 21,695 | 20,515 | 18,821 | 21,782 | 21,433 | 23,112 | |||
Income Statement (P&L) ($ in millions)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 11,570 | 7,583 | 4,804 | 6,510 | 6,466 | 5,405 | ||
| Revenue, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 5,466 | |
| Cost of revenue | (6,041) | (4,524) | (6,079) | (4,655) | (4,639) | (9,304) | ||
| Gross profit: | 5,529 | 3,059 | (1,275) | 1,855 | 1,827 | (3,899) | ||
| Operating expenses | (1,983) | (1,569) | (1,575) | (1,634) | (1,607) | (1,879) | ||
| Operating income (loss): | 3,546 | 1,490 | (2,850) | 221 | 220 | (5,778) | ||
| Nonoperating income (Other Nonoperating income) | ||||||||
| Interest and debt expense | (493) | (481) | (468) | (380) | (452) | (325) | ||
| Income (loss) from continuing operations before equity method investments, income taxes: | 3,053 | 1,009 | (3,318) | (159) | (232) | (6,103) | ||
| Other undisclosed income from continuing operations before income taxes | 493 | 481 | 468 | 380 | 452 | 325 | ||
| Income (loss) from continuing operations before income taxes: | 3,546 | 1,490 | (2,850) | 221 | 220 | (5,778) | ||
| Income tax expense (benefit) | (1,099) | (600) | 11 | (461) | (335) | 1,837 | ||
| Income (loss) from continuing operations: | 2,447 | 890 | (2,839) | (240) | (115) | (3,941) | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | 890 | (2,839) | (240) | (115) | (3,941) | |
| Net income (loss): | 2,447 | 890 | (2,839) | (240) | (115) | (3,941) | ||
| Net loss attributable to noncontrolling interest | (168) | (167) | (133) | |||||
| Other undisclosed net loss attributable to parent | (351) | (331) | (254) | |||||
| Net income (loss) attributable to parent: | 2,096 | 559 | (3,093) | (408) | (282) | (4,074) | ||
| Preferred stock dividends and other adjustments | (4) | (46) | (46) | |||||
| Net income (loss) available to common stockholders, diluted: | 2,096 | 559 | (3,093) | (412) | (328) | (4,120) | ||
Comprehensive Income ($ in millions)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 2,447 | 890 | (2,839) | (240) | (115) | (3,941) | ||
| Other comprehensive income (loss) | 275 | 349 | (56) | (393) | 481 | 1,018 | ||
| Comprehensive income (loss): | 2,722 | 1,239 | (2,895) | (633) | 366 | (2,923) | ||
| Comprehensive loss, net of tax, attributable to noncontrolling interest | (351) | (331) | (254) | (168) | (167) | (133) | ||
| Comprehensive income (loss), net of tax, attributable to parent: | 2,371 | 908 | (3,149) | (801) | 199 | (3,056) | ||
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.