Hess 2002 Annual Report Download - page 29

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27
At December 31
2002 2001
Liabilities and Stockholders’ Equity
Current Liabilities
Accounts payable
—
trade $ 1,401 $ 1,807
Accrued liabilities 830 1,115
Taxes payable 306 414
Notes payable 2106
Current maturities of long-term debt 14 276
Total current liabilities 2,553 3,718
Long-Term Debt 4,976 5,283
Deferred Liabilities and Credits
Deferred income taxes 1,044 1,111
Other 440 350
Total deferred liabilities and credits 1,484 1,461
Stockholders’ Equity
Preferred stock, par value $1.00, 20,000 shares authorized
3% cumulative convertible series
Authorized
—
330 shares
Issued
—
327 shares in 2002 and 2001 ($16 million liquidation preference)
——
Common stock, par value $1.00
Authorized
—
200,000 shares
Issued
—
89,193 shares in 2002; 88,757 shares in 2001 89 89
Capital in excess of par value 932 903
Retained earnings 3,482 3,807
Accumulated other comprehensive income (loss) (254) 108
Total stockholders’ equity 4,249 4,907
Total Liabilities and Stockholders’ Equity $13,262 $15,369
The consolidated financial statements reflect the successful efforts method of accounting for oil and gas exploration and producing activities.
See accompanying notes to consolidated financial statements.