Hess Corporation (HES) financial statements (2020 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)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,5452,6944,8472,7322,7162,4441,814
Cash and cash equivalents1,5452,6944,8472,7322,7162,4441,814
Receivables  9579408471,6423,525
Inventory, net of allowances, customer advances and progress billings261245232323399527954
Inventory261245232323399527954
Contract with customer, asset940771
Assets held-for-sale1,097
Other current assets180519541951301,6431,209
Other undisclosed current assets2302306786312431 
Total current assets:3,1564,4596,1574,2764,4046,6878,599
Noncurrent Assets
Finance lease, right-of-use asset299
Operating lease, right-of-use asset447
Property, plant and equipment16,81416,08316,19223,59526,35227,51728,771
Oil and gas property, successful effort method     5,679 
Long-term investments and receivables     151687
Long-term investments     151687
Intangible assets, net (including goodwill)3603603603753751,8581,869
Goodwill3603603603753751,8581,869
Other noncurrent assets626510382316411347509
Other undisclosed noncurrent assets802121592,653(3,661)2,319
Total noncurrent assets:18,62616,97416,95524,34529,79131,89134,155
TOTAL ASSETS:21,78221,43323,11228,62134,19538,57842,754
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities2,3112,1361,8552,1392,5424,7835,894
Accounts payable4114954354334577082,109
Accrued liabilities1,8031,5601,3371,6091,9973,7813,265
Taxes payable9781839788294520
Debt 675801128668378
Asset retirement obligation     442523
Deferred tax liabilities     1
Other undisclosed current liabilities199    (442)(238)
Total current liabilities:2,5102,2032,4352,2512,6284,8516,558
Noncurrent Liabilities
Long-term debt and lease obligation, including:7,7336,6056,3976,6946,5445,9195,420
Long-term debt, excluding current maturities7,142 6,3976,6946,5445,9195,798
Finance lease, liability238
Operating lease, liability353
Other undisclosed long-term debt and lease obligation 6,605    (378)
Liabilities, other than long-term debt1,4181,7371,9264,0854,6225,4885,992
Asset retirement obligations8977417531,9122,1582,2812,249
Deferred tax liabilities, net4214291,1441,3342,0092,292
Other liabilities5215757441,0291,1301,1981,451
Other undisclosed noncurrent liabilities415      
Total noncurrent liabilities:9,5668,3428,32310,77911,16611,40711,412
Total liabilities:12,07610,54510,75813,03013,79416,25817,970
Stockholders' equity
Stockholders' equity attributable to parent8,7329,62911,05114,53419,38622,20524,720
Preferred stock 111   
Common stock305291315317286286325
Additional paid in capital5,5915,3865,8245,7734,1273,2773,498
Accumulated other comprehensive loss(699)(306)(686)(1,704)(1,664)(1,410)(338)
Retained earnings3,5354,2575,59710,14716,63720,05221,235
Stockholders' equity attributable to noncontrolling interest9741,2591,3031,0571,01511564
Total stockholders' equity:9,70610,88812,35415,59120,40122,32024,784
TOTAL LIABILITIES AND EQUITY:21,78221,43323,11228,62134,19538,57842,754

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

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues6,5106,4665,4054,8446,56111,43924,421
Revenue, net5,4664,7626,63610,75422,299
Cost of revenue(4,655)(4,639)(9,304)(6,403)(8,233)(7,311)(17,103)
Cost of goods and services sold  (1,267)(1,063)(1,294)  
Gross profit:1,8551,827(3,899)(1,559)(1,672)4,1287,318
Operating expenses(1,634)(1,607)(1,879)(2,295)(2,586)(1,692)(2,825)
Operating income (loss):221220(5,778)(3,854)(4,258)2,4364,493
Nonoperating expense     (164)(130)
Investment income, nonoperating      (39)
Foreign currency transaction loss, before tax     (43)(54)
Other nonoperating expense     (121)(37)
Interest and debt expense(380)(452)(325)(486)(341)(323)(406)
Income (loss) from continuing operations before equity method investments, income taxes:(159)(232)(6,103)(4,340)(4,599)1,9493,957
Other undisclosed income from continuing operations before income taxes380452325486341487536
Income (loss) from continuing operations before income taxes:221220(5,778)(3,854)(4,258)2,4364,493
Income tax expense (benefit)(461)(335)1,837(2,222)1,299(744)(525)
Income (loss) from continuing operations:(240)(115)(3,941)(6,076)(2,959)1,6923,968
Income (loss) from discontinued operations    (48)6821,254
Net income (loss):(240)(115)(3,941)(6,076)(3,007)2,3745,222
Net loss attributable to noncontrolling interest(168)(167)(133)(56)(49)(57)(170)
Net income (loss) attributable to parent:(408)(282)(4,074)(6,132)(3,056)2,3175,052
Preferred stock dividends and other adjustments(4)(46)(46)(41)   
Net income (loss) available to common stockholders, diluted:(412)(328)(4,120)(6,173)(3,056)2,3175,052

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income (loss):(240)(115)(3,941)(6,076)(3,007)2,3745,222
Other comprehensive income (loss)(393)4811,018(40)(254)(1,072)161
Comprehensive income (loss):(633)366(2,923)(6,116)(3,261)1,3025,383
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(168)(167)(133)(56)(49)(57)176
Other undisclosed comprehensive loss, net of tax, attributable to parent      (352)
Comprehensive income (loss), net of tax, attributable to parent:(801)199(3,056)(6,172)(3,310)1,2455,207

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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