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HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
STATEMENT OF CONSOLIDATED STOCKHOLDERS’ EQUITY
Shares Amount Shares Amount Shares Amount
2008 2007 2006
(Millions of dollars; thousands of shares)
PREFERRED STOCK
Balance at January 1 .............. 284 $ — 324 $ — 13,824 $ 14
Conversion of preferred stock to
common stock .................. (284) — (40) — (13,500) (14)
Balance at December 31............ ——284 — 324 —
COMMON STOCK
Balance at January 1 .............. 320,600 321 315,018 315 279,197 279
Activity related to restricted common
stock awards, net ................ 1,148 1 941 1 903 1
Employee stock options exercised...... 3,852 4 4,566 5 1,283 1
Conversion of preferred stock to
common stock .................. 533 — 75 — 33,635 34
Balance at December 31............ 326,133 326 320,600 321 315,018 315
CAPITAL IN EXCESS OF PAR VALUE
Balance at January 1 .............. 1,882 1,689 1,656
Activity related to restricted common
stock awards, net ................ 145 50 36
Employee stock options, including
income tax benefits .............. 320 143 68
Conversion of preferred stock to
common stock .................. —— (20)
Reclassification resulting from adoption
of FAS 123R ................... —— (51)
Balance at December 31............ 2,347 1,882 1,689
RETAINED EARNINGS
Balance at January 1 .............. 9,412 7,707 5,946
Net income ...................... 2,360 1,832 1,920
Dividends declared on common stock . . . (130) (127) (115)
Dividends on preferred stock ......... —— (44)
Balance at December 31............ 11,642 9,412 7,707
ACCUMULATED OTHER
COMPREHENSIVE INCOME
(LOSS)
Balance at January 1 .............. (1,841) (1,564) (1,526)
Net other comprehensive income (loss) . . (167) (277) 104
Cumulative effect of adoption of
FAS158 ...................... —— (142)
Balance at December 31............ (2,008) (1,841) (1,564)
DEFERRED COMPENSATION
Balance at January 1 .............. —— (51)
Reclassification resulting from adoption
of FAS 123R ................... ——51
Balance at December 31............ ———
TOTAL STOCKHOLDERS’ EQUITY at
December 31 .................... $12,307 $ 9,774 $ 8,147
See accompanying notes to consolidated financial statements.
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