Hess 2008 Annual Report Download - page 65

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HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
STATEMENT OF CONSOLIDATED COMPREHENSIVE INCOME
2008 2007 2006
Years Ended December 31,
(Millions of dollars)
COMPONENTS OF COMPREHENSIVE INCOME
Net income .................................................. $2,360 $1,832 $1,920
Other comprehensive income (loss):
Deferred gains (losses) on cash flow hedges, after tax:
Effect of hedge losses recognized in income ...................... 342 325 345
Net change in fair value of cash flow hedges ...................... (341) (659) (379)
Effect of adoption of FAS 157 ................................ 193 ——
Change in retirement plan liabilities, after tax ....................... (241) 17 90
Change in foreign currency translation adjustment and other . . . ......... (120) 40 48
Net other comprehensive income (loss) .............................. (167) (277) 104
COMPREHENSIVE INCOME .................................... $2,193 $1,555 $2,024
See accompanying notes to consolidated financial statements.
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