Hess 1999 Annual Report Download - page 3

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1
Dollar amounts in thousands, except per share data 1999 1998
Financial
—
For The Year
Sales and other operating revenues $7,039,138 $6,579,892
Operating earnings (loss) $ 306,511 $ (196,051)
Net income (loss) $ 437,616(a) $ (458,893)(b)
Net income (loss) per share (diluted) $4.85(a) $(5.12)(b)
Common stock dividends per share $.60 $ .60
Capital expenditures $ 796,657 $1,438,678
Weighted average shares outstanding (diluted)—in thousands 90,280 89,585
Financial
—
At Year-End
Total assets $7,727,712 $7,882,983
Total debt $2,309,681 $2,652,465
Stockholders’ equity $3,038,192 $2,643,412
Operating
—
For The Year
Production—net
Crude oil and natural gas liquids—barrels per day
United States 64,605 44,920
Foreign 167,802 161,069
Total 232,407 205,989
Natural gas—Mcf per day
United States 338,044 293,849
Foreign 304,500 282,628
Total 642,544 576,477
Refining and marketing—barrels per day
Refining crude runs
Amerada Hess Corporation
—
419,000(c)
HOVENSA L.L.C.(d) 209,000 217,000
Refined products sold 344,000 482,000
(a) Includes after-tax gains on asset sales of $176,000 ($1.95 per share) offset by other after-tax special charges of $44,900 ($.50 per share).
(b) Includes after-tax special charges aggregating $262,800 ($2.93 per share) representing impairments of assets and operating leases, a net loss on asset sales and accrued severance.
(c) Through ten months of 1998.
(d) Reflects the Corporation’s 50% share of HOVENSA’s crude runs.
See Management’s Discussion and Analysis of Results of Operations beginning on page 20.
Financial and Operating Highlights
Amerada Hess Corporation and Consolidat ed Subsidiaries