Hess Corporation (HES) financial statements (2023 and earlier)

Company profile

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

Balance sheet (Statement of financial position) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments2,7131,7391,5452,6944,8472,7322,716
Cash and cash equivalents2,7131,7391,5452,6944,8472,7322,716
Receivables    957940847
Inventory, net of allowances, customer advances and progress billings223378261245232323399
Inventory223378261245232323399
Contract with customer, asset1,062710940771
Other current assets19910418051954195130
Other undisclosed current assets1491502302306786312
Total current assets:4,3463,0813,1564,4596,1574,2764,404
Noncurrent Assets
Finance lease, right-of-use asset144168299
Operating lease, right-of-use asset352426447
Property, plant and equipment14,18214,11516,81416,08316,19223,59526,352
Long-term investments and receivables197      
Long-term investments197      
Intangible assets, net (including goodwill)360360360360360375375
Goodwill360360360360360375375
Deferred income tax assets7159 
Other noncurrent assets651612626510382316411
Other undisclosed noncurrent assets212 802121592,653
Total noncurrent assets:16,16915,74018,62616,97416,95524,34529,791
TOTAL ASSETS:20,51518,82121,78221,43323,11228,62134,195
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities2,4581,5322,3112,1361,8552,1392,542
Accounts payable220200411495435433457
Accrued liabilities1,7101,2511,8031,5601,3371,6091,997
Taxes payable528819781839788
Debt53628 6758011286
Other undisclosed current liabilities7063199    
Total current liabilities:3,0641,6232,5102,2032,4352,2512,628
Noncurrent Liabilities
Long-term debt and lease obligation, including:8,5358,9847,7336,6056,3976,6946,544
Long-term debt, excluding current maturities7,9418,2867,142 6,3976,6946,544
Finance lease, liability200220238
Operating lease, liability394478353
Other undisclosed long-term debt and lease obligation   6,605   
Liabilities, other than long-term debt1,8901,8791,4181,7371,9264,0854,622
Asset retirement obligations1,0058948977417531,9122,158
Deferred tax liabilities, net4214291,1441,334
Deferred income tax liabilities383342 
Other liabilities5026435215757441,0291,130
Other undisclosed noncurrent liabilities  415    
Total noncurrent liabilities:10,42510,8639,5668,3428,32310,77911,166
Total liabilities:13,48912,48612,07610,54510,75813,03013,794
Stockholders' equity
Stockholders' equity attributable to parent6,3005,3668,7329,62911,05114,53419,386
Preferred stock   111 
Common stock310307305291315317286
Additional paid in capital6,0175,6845,5915,3865,8245,7734,127
Accumulated other comprehensive loss(406)(755)(699)(306)(686)(1,704)(1,664)
Retained earnings3791303,5354,2575,59710,14716,637
Stockholders' equity attributable to noncontrolling interest7269699741,2591,3031,0571,015
Total stockholders' equity:7,0266,3359,70610,88812,35415,59120,401
TOTAL LIABILITIES AND EQUITY:20,51518,82121,78221,43323,11228,62134,195

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues7,5834,8046,5106,4665,4054,8446,561
Revenue, net5,4664,7626,636
Cost of revenue(4,524)(6,079)(4,655)(4,639)(9,304)(6,403)(8,233)
Cost of goods and services sold    (1,267)(1,063)(1,294)
Gross profit:3,059(1,275)1,8551,827(3,899)(1,559)(1,672)
Operating expenses(1,569)(1,575)(1,634)(1,607)(1,879)(2,295)(2,586)
Operating income (loss):1,490(2,850)221220(5,778)(3,854)(4,258)
Interest and debt expense(481)(468)(380)(452)(325)(486)(341)
Income (loss) from continuing operations before equity method investments, income taxes:1,009(3,318)(159)(232)(6,103)(4,340)(4,599)
Other undisclosed income from continuing operations before income taxes481468380452325486341
Income (loss) from continuing operations before income taxes:1,490(2,850)221220(5,778)(3,854)(4,258)
Income tax expense (benefit)(600)11(461)(335)1,837(2,222)1,299
Income (loss) from continuing operations:890(2,839)(240)(115)(3,941)(6,076)(2,959)
Loss from discontinued operations      (48)
Net income (loss):890(2,839)(240)(115)(3,941)(6,076)(3,007)
Net loss attributable to noncontrolling interest  (168)(167)(133)(56)(49)
Other undisclosed net loss attributable to parent(331)(254)     
Net income (loss) attributable to parent:559(3,093)(408)(282)(4,074)(6,132)(3,056)
Preferred stock dividends and other adjustments  (4)(46)(46)(41) 
Net income (loss) available to common stockholders, diluted:559(3,093)(412)(328)(4,120)(6,173)(3,056)

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income (loss):890(2,839)(240)(115)(3,941)(6,076)(3,007)
Other comprehensive income (loss)349(56)(393)4811,018(40)(254)
Comprehensive income (loss):1,239(2,895)(633)366(2,923)(6,116)(3,261)
Comprehensive loss, net of tax, attributable to noncontrolling interest(331)(254)(168)(167)(133)(56)(49)
Comprehensive income (loss), net of tax, attributable to parent:908(3,149)(801)199(3,056)(6,172)(3,310)

Statements sources

The financial statements are based on the company's filings with the 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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