Hess 2002 Annual Report Download - page 30

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28
For the Years Ended December 31
Millions of dollars, except per share data 2002 2001 2000
Revenues and Non-operating Income
Sales (excluding excise taxes) and other
operating revenues $11,932 $13,413 $11,993
Non-operating income
Gain on asset sales 117
——
Equity in income (loss) of HOVENSA L.L.C. (47) 58 121
Other 91 142 163
Total revenues and non-operating income 12,093 13,613 12,277
Costs and Expenses
Cost of products sold 7,156 8,735 7,883
Production expenses 822 711 557
Marketing expenses 703 663 542
Exploration expenses, including dry holes
and lease impairment 319 368 289
Other operating expenses 199 224 234
General and administrative expenses 256 313 224
Interest expense 269 194 162
Depreciation, depletion and amortization 1,320 967 714
Asset impairments 1,100
——
Total costs and expenses 12,144 12,175 10,605
Income (loss) before income taxes (51) 1,438 1,672
Provision for income taxes 167 524 649
Net Income (Loss) $ (218) $ 914 $ 1,023
Net Income (Loss) Per Share
Basic $ (2.48) $ 10.38 $ 11.48
Diluted (2.48) 10.25 11.38
STATEMENT OF CONSOLIDATED INCOME
Amerada Hess Corporation and Consolidated Subsidiaries
STATEMENT OF CONSOLIDATED RETAINED EARNINGS
For the Years Ended December 31
Millions of dollars, except per share data 2002 2001 2000
Balance at Beginning of Year $ 3,807 $ 3,069 $ 2,287
Net income (loss) (218) 914 1,023
Dividends declared
—
common stock
($1.20 per share in 2002 and 2001; $.60 per share in 2000) (107) (107) (54)
Common stock acquired and retired
—
(69) (187)
Balance at End of Year $ 3,482 $ 3,807 $ 3,069
See accompanying notes to consolidated financial statements.