Hess 2011 Annual Report Download - page 76

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HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
STATEMENT OF CONSOLIDATED EQUITY AND COMPREHENSIVE INCOME
Common
Stock
Capital in
Excess of
Par
Retained
Earnings
Accumulated
Other
Comprehensive
Income (Loss)
Total Hess
Stockholders’
Equity
Noncontrolling
Interests
Total
Equity
(Millions of dollars)
Balance at January 1, 2009 ............................. $326 $2,347 $11,642 $(2,008) $12,307 $ 84 $12,391
Netincome.......................................... 740 740 67 807
Deferred gains (losses) on cash flow hedges, after-tax
Effect of hedge losses recognized in income ............ 963 963 — 963
Net change in fair value of cash flow hedges ........... (729) (729) — (729)
Change in postretirement plan liabilities, after-tax ......... (6) (6) — (6)
Change in foreign currency translation adjustment and
other ........................................... 105 105 (5) 100
Comprehensive income (loss) ..................... 1,073 62 1,135
Activity related to restricted common stock awards, net ....... 1 61 — — 62 — 62
Employee stock options, including income tax benefits ....... — 73 — — 73 — 73
Cashdividendsdeclared ............................... — — (131) — (131) — (131)
Noncontrollinginterests,net ............................ — — — — — (2) (2)
Balance at December 31, 2009 .......................... 327 2,481 12,251 (1,675) 13,384 144 13,528
Netincome.......................................... 2,125 2,125 13 2,138
Deferred gains (losses) on cash flow hedges, after-tax
Effect of hedge losses recognized in income ............ 656 656 — 656
Net change in fair value of cash flow hedges ........... (198) (198) — (198)
Change in postretirement plan liabilities, after-tax ......... 28 28 — 28
Change in foreign currency translation adjustment and
other ........................................... 30 30 1 31
Comprehensive income (loss) ..................... 2,641 14 2,655
Commonstockissuedforacquisition ..................... 9 639 — — 648 — 648
Activity related to restricted common stock awards, net ....... 1 59 — — 60 — 60
Employee stock options, including income tax benefits ....... 1 105 — — 106 — 106
Cashdividendsdeclared ............................... — — (132) — (132) — (132)
Noncontrollinginterests,net ............................ — (28) 10 — (18) (38) (56)
Balance at December 31, 2010 .......................... 338 3,256 14,254 (1,159) 16,689 120 16,809
Netincome.......................................... 1,703 1,703 (27) 1,676
Deferred gains (losses) on cash flow hedges, after-tax
Effect of hedge losses recognized in income ............ 432 432 — 432
Net change in fair value of cash flow hedges ........... 22—2
Change in postretirement plan liabilities, after-tax ......... (246) (246) — (246)
Change in foreign currency translation adjustment and
other ........................................... (96) (96) 2 (94)
Comprehensive income (loss) ..................... 1,795 (25) 1,770
Activity related to restricted common stock awards, net ....... 152 — — 53 —53
Employee stock options, including income tax benefits ....... 1 138 — — 139 — 139
Cashdividendsdeclared ............................... — — (136) — (136) — (136)
Noncontrollinginterests,net ............................ — (29) 5 — (24) (19) (43)
Balance at December 31, 2011 .......................... $ 340 $3,417 $15,826 $(1,067) $18,516 $ 76 $18,592
See accompanying notes to consolidated financial statements.
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