Hess Corporation (HES) financial statements (2021 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)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,7391,5452,6944,8472,7322,7162,444
Cash and cash equivalents1,7391,5452,6944,8472,7322,7162,444
Receivables   9579408471,642
Inventory, net of allowances, customer advances and progress billings378261245232323399527
Inventory378261245232323399527
Contract with customer, asset710940771
Other current assets104180519541951301,643
Other undisclosed current assets1502302306786312431
Total current assets:3,0813,1564,4596,1574,2764,4046,687
Noncurrent Assets
Finance lease, right-of-use asset168299
Operating lease, right-of-use asset426447
Property, plant and equipment14,11516,81416,08316,19223,59526,35227,517
Oil and gas property, successful effort method      5,679
Long-term investments and receivables      151
Long-term investments      151
Intangible assets, net (including goodwill)3603603603603753751,858
Goodwill3603603603603753751,858
Deferred income tax assets59 
Other noncurrent assets612626510382316411347
Other undisclosed noncurrent assets 802121592,653(3,661)
Total noncurrent assets:15,74018,62616,97416,95524,34529,79131,891
TOTAL ASSETS:18,82121,78221,43323,11228,62134,19538,578
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities1,5322,3112,1361,8552,1392,5424,783
Accounts payable200411495435433457708
Accrued liabilities1,2511,8031,5601,3371,6091,9973,781
Taxes payable819781839788294
Debt28 675801128668
Asset retirement obligation      442
Other undisclosed current liabilities63199    (442)
Total current liabilities:1,6232,5102,2032,4352,2512,6284,851
Noncurrent Liabilities
Long-term debt and lease obligation, including:8,9847,7336,6056,3976,6946,5445,919
Long-term debt, excluding current maturities8,2867,142 6,3976,6946,5445,919
Finance lease, liability220238
Operating lease, liability478353
Other undisclosed long-term debt and lease obligation  6,605    
Liabilities, other than long-term debt1,8791,4181,7371,9264,0854,6225,488
Asset retirement obligations8948977417531,9122,1582,281
Deferred tax liabilities, net4214291,1441,3342,009
Deferred income tax liabilities342 
Other liabilities6435215757441,0291,1301,198
Other undisclosed noncurrent liabilities 415     
Total noncurrent liabilities:10,8639,5668,3428,32310,77911,16611,407
Total liabilities:12,48612,07610,54510,75813,03013,79416,258
Stockholders' equity
Stockholders' equity attributable to parent5,3668,7329,62911,05114,53419,38622,205
Preferred stock  111  
Common stock307305291315317286286
Additional paid in capital5,6845,5915,3865,8245,7734,1273,277
Accumulated other comprehensive loss(755)(699)(306)(686)(1,704)(1,664)(1,410)
Retained earnings1303,5354,2575,59710,14716,63720,052
Stockholders' equity attributable to noncontrolling interest9699741,2591,3031,0571,015115
Total stockholders' equity:6,3359,70610,88812,35415,59120,40122,320
TOTAL LIABILITIES AND EQUITY:18,82121,78221,43323,11228,62134,19538,578

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

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues4,8046,5106,4665,4054,8446,56111,439
Revenue, net5,4664,7626,63610,754
Cost of revenue(6,079)(4,655)(4,639)(9,304)(6,403)(8,233)(7,311)
Cost of goods and services sold   (1,267)(1,063)(1,294) 
Gross profit:(1,275)1,8551,827(3,899)(1,559)(1,672)4,128
Operating expenses(1,575)(1,634)(1,607)(1,879)(2,295)(2,586)(1,692)
Operating income (loss):(2,850)221220(5,778)(3,854)(4,258)2,436
Nonoperating expense      (164)
Foreign currency transaction loss, before tax      (43)
Other nonoperating expense      (121)
Interest and debt expense(468)(380)(452)(325)(486)(341)(323)
Income (loss) from continuing operations before equity method investments, income taxes:(3,318)(159)(232)(6,103)(4,340)(4,599)1,949
Other undisclosed income from continuing operations before income taxes468380452325486341487
Income (loss) from continuing operations before income taxes:(2,850)221220(5,778)(3,854)(4,258)2,436
Income tax expense (benefit)11(461)(335)1,837(2,222)1,299(744)
Income (loss) from continuing operations:(2,839)(240)(115)(3,941)(6,076)(2,959)1,692
Income (loss) from discontinued operations     (48)682
Net income (loss):(2,839)(240)(115)(3,941)(6,076)(3,007)2,374
Net loss attributable to noncontrolling interest (168)(167)(133)(56)(49)(57)
Other undisclosed net loss attributable to parent(254)      
Net income (loss) attributable to parent:(3,093)(408)(282)(4,074)(6,132)(3,056)2,317
Preferred stock dividends and other adjustments (4)(46)(46)(41)  
Net income (loss) available to common stockholders, diluted:(3,093)(412)(328)(4,120)(6,173)(3,056)2,317

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income (loss):(2,839)(240)(115)(3,941)(6,076)(3,007)2,374
Other comprehensive income (loss)(56)(393)4811,018(40)(254)(1,072)
Comprehensive income (loss):(2,895)(633)366(2,923)(6,116)(3,261)1,302
Comprehensive loss, net of tax, attributable to noncontrolling interest(254)(168)(167)(133)(56)(49)(57)
Comprehensive income (loss), net of tax, attributable to parent:(3,149)(801)199(3,056)(6,172)(3,310)1,245

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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