Hess 2000 Annual Report Download - page 29

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For the Years Ended December 31
Millions of dollars, except per share data 2000 1999 1998
Revenues
Sales (excluding excise taxes) and other
operating revenues $11,993 $7,039 $6,580
Non-operating income
Gain (loss) on asset sales —273 (26)
Equity in income (loss) of HOVENSA L.L.C. 121 7 (16)
Other 163 142 83
Total revenues 12,277 7,461 6,621
Costs and Expenses
Cost of products sold 7,883 4,240 4,373
Production expenses 557 487 518
Marketing expenses 542 387 379
Exploration expenses, including dry holes
and lease impairment 289 261 349
Other operating expenses 234 217 224
General and administrative expenses 224 232 271
Interest expense 162 158 153
Depreciation, depletion and amortization 714 649 662
Impairment of assets and operating leases —128 206
Total costs and expenses 10,605 6,759 7,135
Income (loss) before income taxes 1,672 702 (514)
Provision (benefit) for income taxes 649 264 (55)
Net Income (Loss) $ 1,023 $ 438 $ (459)
Net Income (Loss) Per Share
Basic $ 11.48 $ 4.88 $ (5.12)
Diluted 11.38 4.85 (5.12)
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 2000 1999 1998
Balance at Beginning of Year $ 2,287 $1,904 $2,463
Net income (loss) 1,023 438 (459)
Dividends declared — common stock
($.60 per share in 2000, 1999 and 1998) (54) (55) (55)
Common stock acquired and retired (187) — (45)
Balance at End of Year $ 3,069 $2,287 $1,904
See accompanying notes to consolidated financial statements.