Hess 2000 Annual Report Download - page 31

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At December 31
2000 1999
Liabilities and Stockholders’ Equity
Current Liabilities
Accounts payable
—
trade $ 1,875 $ 772
Accrued liabilities 1,158 625
Taxes payable 440 159
Notes payable 718
Current maturities of long-term debt 58 5
Total current liabilities 3,538 1,579
Long-Term Debt 1,985 2,287
Deferred Liabilities and Credits
Deferred income taxes 510 442
Other 358 382
Total deferred liabilities and credits 868 824
Stockholders’ Equity
Preferred stock, par value $1.00, 20,000 shares authorized
3% cumulative convertible series
Authorized
—
330 shares
Issued
—
327 shares in 2000 ($16 million liquidation preference) ——
Common stock, par value $1.00
Authorized
—
200,000 shares
Issued
—
88,744 shares in 2000; 90,676 shares in 1999 89 91
Capital in excess of par value 864 782
Retained earnings 3,069 2,287
Accumulated other comprehensive income (139) (122)
Total stockholders’ equity 3,883 3,038
Total Liabilities and Stockholders’ Equity $10,274 $7,728
The consolidated financial statements reflect the successful efforts method of accounting for oil and gas exploration and producing activities.
See accompanying notes to consolidated financial statements.
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