Hess 2014 Annual Report Download - page 67
Download and view the complete annual report
Please find page 67 of the 2014 Hess annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57 -
58 -
59 -
60 -
61 -
62 -
63 -
64 -
65 -
66 -
67 -
68 -
69 -
70 -
71 -
72 -
73 -
74 -
75 -
76 -
77 -
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
 |
 |
52 52
HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
STATEMENT OF CONSOLIDATED INCOME
Years Ended December 31,
2014 2013 2012
(In millions,
except per share amounts)
REVENUES AND NON-OPERATING INCOME
Sales (excluding excise taxes) and other operating revenues ................................................. $ 10,737 $ 11,905 $ 12,245
Gains on asset sales, net ......................................................................................................... 823 2,174 584
Other, net................................................................................................................................ (121) (51) 106
Total revenues and non-operating income ......................................................................... 11,439 14,028 12,935
COSTS AND EXPENSES
Cost of products sold (excluding items shown separately below) .......................................... 1,826 1,853 1,333
Operating costs and expenses ................................................................................................. 1,927 2,116 2,202
Production and severance taxes ............................................................................................. 275 372 550
Exploration expenses, including dry holes and lease impairment .......................................... 840 1,031 1,070
General and administrative expenses ..................................................................................... 588 673 576
Interest expense .............................................................................................................. ........ 323 406 419
Depreciation, depletion and amortization .............................................................................. 3,224 2,687 2,866
Asset impairments ............................................................................................................. .....
—
289 582
Total costs and expenses ................................................................................................... 9,003 9,427 9,598
INCOME FROM CONTINUING OPERATIONS
BEFORE INCOME TAXES ............................................................................................... 2,436 4,601 3,337
Provision for income taxes .....................................................................................................744 565 1,529
INCOME FROM CONTINUING OPERATIONS................................................................ 1,692 4,036 1,808
INCOME FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES........... 682 1,186 255
NET INCOME .......................................................................................................................... 2,374 5,222 2,063
Less: Net income attributable to noncontrolling interests ...................................................... 57 170 38
NET INCOME ATTRIBUTABLE TO HESS CORPORATION......................................... $ 2,317 $ 5,052 $ 2,025
NET INCOME ATTRIBUTABLE TO HESS CORPORATION PER SHARE
BASIC:
Continuing operations ............................................................................................................ $ 5.57 $ 11.47 $ 5.29
Discontinued operations ....................................................................................................... .. 2.06 3.54 0.69
NET INCOME PER SHARE ................................................................................................... $ 7.63 $ 15.01 $ 5.98
DILUTED:
Continuing operations ............................................................................................................ $ 5.50 $ 11.33 $ 5.26
Discontinued operations ....................................................................................................... .. 2.03 3.49 0.69
NET INCOME PER SHARE ................................................................................................... $ 7.53 $ 14.82 $ 5.95
WEIGHTED AVERAGE NUMBER OF
COMMON SHARES OUTSTANDING (DILUTED)....................................................... 307.7 340.9 340.3
See accompanying Notes to Consolidated Financial Statements.