Hess 2000 Annual Report Download - page 54

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52
TEN-YEAR SUMMARY OF FINANCIAL DATA
Amerada Hess Corporation and Consolidated Subsidiaries
Millions of dollars, except per share data 2000 1999(b) 1998
Statement of Consolidated Income
Revenues
Sales (excluding excise taxes) and other operating revenues
Crude oil (including sales of purchased oil) $2,177 $1,407 $ 894
Natural gas (including sales of purchased gas) 3,470 1,856 1,711
Petroleum products 5,394 3,003 3,464
Other operating revenues 952 773 511
Total 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(a) $ 438(c) $ (459)(d)
Net income (loss) per share
Basic $ 11.48 $ 4.88 $ (5.12)
Diluted 11.38 4.85 (5.12)
Dividends Per Share of Common Stock $ .60 $.60 $.60
Weighted Average Diluted
Shares Outstanding (thousands) 89,878 90,280 89,585
(a) Includes an after-tax gain of $60 million on termination of acquisition, partially offset by a $24 million charge for costs associated with a
research and development venture.
(b) On January 1, 1999, the Corporation adopted the last-in, first-out (LIFO) inventory method for refining and marketing inventories.
(c) Includes after-tax gains on asset sales of $176 million and special tax benefits of $54 million, partially offset by impairment of assets and
operating leases of $99 million (after income taxes).
(d) Reflects after-tax special charges aggregating $263 million representing impairments of assets and operating leases, a net loss on asset sales
and accrued severance.
(e) After income taxes, the net gain was $421 million.
(f) After income taxes, the net charge was $416 million.
See accompanying notes to consolidated financial statements.