$HES
HESS CORP

2017 Q1 Form 10-Q Financial Statement

#000156459017008749 Filed on May 04, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q4 2016 Q1
Revenue $1.275B $1.388B $993.0M
YoY Change 28.4% 0.14% -35.94%
Cost Of Revenue $231.0M $402.0M $208.0M
YoY Change 11.06% 18.24% -33.76%
Gross Profit $1.027B $986.0M $765.0M
YoY Change 34.25% -5.74% -38.11%
Gross Profit Margin 80.55% 71.04% 77.04%
Selling, General & Admin $453.0M $668.0M $534.0M
YoY Change -15.17% 2.45% -18.22%
% of Gross Profit 44.11% 67.75% 69.8%
Research & Development $58.00M $1.033B $132.0M
YoY Change -56.06% 173.28% -50.93%
% of Gross Profit 5.65% 104.77% 17.25%
Depreciation & Amortization $737.0M $768.0M $868.0M
YoY Change -15.09% -21.87% -9.21%
% of Gross Profit 71.76% 77.89% 113.46%
Operating Expenses $1.248B $2.469B $1.534B
YoY Change -18.64% 22.65% -18.32%
Operating Profit -$221.0M -$1.483B -$769.0M
YoY Change -71.26% 53.36% 19.78%
Interest Expense $84.00M -$84.00M $85.00M
YoY Change -1.18% -2.33% 0.0%
% of Operating Profit
Other Income/Expense, Net -$4.000M -$30.00M $20.00M
YoY Change -120.0% 66.67%
Pretax Income -$309.0M -$1.709B -$834.0M
YoY Change -62.95% -25.14% 14.72%
Income Tax -$13.00M $3.189B -$346.0M
% Of Pretax Income
Net Earnings -$324.0M -$4.892B -$509.0M
YoY Change -36.35% 168.64% 30.85%
Net Earnings / Revenue -25.41% -352.45% -51.26%
Basic Earnings Per Share -$1.07 -$1.72
Diluted Earnings Per Share -$1.07 -$15.58M -$1.72
COMMON SHARES
Basic Shares Outstanding 313.9M 316.5M 299.8M
Diluted Shares Outstanding 313.9M 299.8M

Balance Sheet

Concept 2017 Q1 2016 Q4 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.686B $2.732B $3.557B
YoY Change -24.49% 0.59% 136.19%
Cash & Equivalents $2.686B $2.732B $3.557B
Short-Term Investments
Other Short-Term Assets $196.0M $89.00M $120.0M
YoY Change 63.33% -31.54% -78.57%
Inventory $377.0M $323.0M $416.0M
Prepaid Expenses
Receivables $775.0M $940.0M $612.0M
Other Receivables $137.0M $86.00M $240.0M
Total Short-Term Assets $4.171B $4.276B $4.945B
YoY Change -15.65% -2.91% 14.39%
LONG-TERM ASSETS
Property, Plant & Equipment $23.20B $23.60B $26.24B
YoY Change -11.58% -10.46% -3.55%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $353.0M $375.0M $3.247B
YoY Change -89.13% 0.54% 812.08%
Total Long-Term Assets $23.93B $24.35B $29.86B
YoY Change -19.87% -18.18% -6.03%
TOTAL ASSETS
Total Short-Term Assets $4.171B $4.276B $4.945B
Total Long-Term Assets $23.93B $24.35B $29.86B
Total Assets $28.10B $28.62B $34.81B
YoY Change -19.27% -16.21% -3.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $565.0M $433.0M $346.0M
YoY Change 63.29% -5.25% -49.19%
Accrued Expenses $1.343B $1.609B $1.660B
YoY Change -19.1% -19.43% -31.6%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $116.0M $112.0M $94.00M
YoY Change 23.4% 30.23% 36.23%
Total Short-Term Liabilities $2.126B $2.251B $2.193B
YoY Change -3.06% -14.35% -36.75%
LONG-TERM LIABILITIES
Long-Term Debt $6.669B $6.694B $6.498B
YoY Change 2.63% 2.89% 9.93%
Other Long-Term Liabilities $2.947B $2.941B $3.163B
YoY Change -6.83% 160.27% 168.96%
Total Long-Term Liabilities $9.616B $6.694B $9.661B
YoY Change -0.47% -12.34% 36.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.126B $2.251B $2.193B
Total Long-Term Liabilities $9.616B $6.694B $9.661B
Total Liabilities $13.95B $14.09B $14.21B
YoY Change -1.82% 2.41% -1.55%
SHAREHOLDERS EQUITY
Retained Earnings $9.692B $10.15B
YoY Change -39.01%
Common Stock $6.122B $6.090B
YoY Change 38.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $14.15B $14.53B $20.60B
YoY Change
Total Liabilities & Shareholders Equity $28.10B $28.62B $34.81B
YoY Change -19.27% -16.21% -3.58%

Cashflow Statement

Concept 2017 Q1 2016 Q4 2016 Q1
OPERATING ACTIVITIES
Net Income -$324.0M -$4.892B -$509.0M
YoY Change -36.35% 168.64% 30.85%
Depreciation, Depletion And Amortization $737.0M $768.0M $868.0M
YoY Change -15.09% -21.87% -9.21%
Cash From Operating Activities $349.0M $326.0M -$60.00M
YoY Change -681.67% -47.67% -113.76%
INVESTING ACTIVITIES
Capital Expenditures -$390.0M -$487.0M -$620.0M
YoY Change -37.1% -47.91% -150.12%
Acquisitions
YoY Change
Other Investing Activities $0.00 $63.00M -$7.000M
YoY Change -100.0% 142.31% -170.0%
Cash From Investing Activities -$290.0M -$424.0M -$613.0M
YoY Change -52.69% -53.36% -50.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 -$1.087B
YoY Change -100.0% -1722.39%
Debt Paid & Issued, Net $26.00M $17.00M
YoY Change 52.94% 0.0%
Cash From Financing Activities -105.0M -699.0M 1.514B
YoY Change -106.94% 6254.55% -1122.97%
NET CHANGE
Cash From Operating Activities 349.0M 326.0M -60.00M
Cash From Investing Activities -290.0M -424.0M -613.0M
Cash From Financing Activities -105.0M -699.0M 1.514B
Net Change In Cash -46.00M -797.0M 841.0M
YoY Change -105.47% 168.35% -189.66%
FREE CASH FLOW
Cash From Operating Activities $349.0M $326.0M -$60.00M
Capital Expenditures -$390.0M -$487.0M -$620.0M
Free Cash Flow $739.0M $813.0M $560.0M
YoY Change 31.96% -47.82% -169.91%

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CY2017Q1 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
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CY2016Q1 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
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CY2017Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
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CY2016Q1 us-gaap Proceeds From Issuance Of Common Stock
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CY2017Q1 us-gaap Payments Of Dividends Common Stock
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CY2016Q1 us-gaap Payments Of Dividends Common Stock
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CY2017Q1 us-gaap Proceeds From Payments For Other Financing Activities
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CY2016Q1 us-gaap Proceeds From Payments For Other Financing Activities
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CY2017Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
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CY2016Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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CY2016Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2016Q1 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2017Q1 hes Adjustments To Additional Paid In Capital Share Based Compensation
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CY2017Q1 us-gaap Dividends Preferred Stock
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CY2017Q1 us-gaap Dividends Common Stock
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CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2016Q1 us-gaap Stock Issued During Period Value New Issues
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CY2016Q1 hes Adjustments To Additional Paid In Capital Share Based Compensation
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CY2016Q1 us-gaap Dividends Preferred Stock
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CY2016Q1 us-gaap Dividends Common Stock
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CY2016Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2017Q1 us-gaap Capitalized Exploratory Well Cost Additions Pending Determination Of Proved Reserves
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CY2017Q1 us-gaap Capitalized Exploratory Well Costs
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CY2017Q1 us-gaap Crude Oil And Natural Gas Liquids
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CY2016Q4 us-gaap Crude Oil And Natural Gas Liquids
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CY2017Q1 us-gaap Inventory Raw Materials And Supplies
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CY2016Q4 us-gaap Inventory Raw Materials And Supplies
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CY2016Q4 us-gaap Capitalized Exploratory Well Costs
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CY2017Q1 us-gaap Capitalized Exploratory Well Costs That Have Been Capitalized For Period Greater Than One Year
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511000000
CY2016Q1 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
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CY2017Q1 us-gaap Defined Benefit Plan Expected Contributions In Current Fiscal Year
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CY2017Q1 us-gaap Defined Benefit Plan Contributions By Employer
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14000000
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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313900000
CY2016Q1 us-gaap Exploration And Production Revenue
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CY2016Q1 hes Midstream Revenue
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0
CY2016Q1 us-gaap Property Plant And Equipment Additions
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540000000
CY2017Q1 us-gaap Long Term Debt
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6785000000
CY2017Q1 us-gaap Defined Benefit Plan Service Cost
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14000000
CY2016Q1 us-gaap Defined Benefit Plan Service Cost
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CY2017Q1 us-gaap Defined Benefit Plan Interest Cost
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26000000
CY2016Q1 us-gaap Defined Benefit Plan Interest Cost
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28000000
CY2017Q1 us-gaap Defined Benefit Plan Expected Return On Plan Assets
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41000000
CY2016Q1 us-gaap Defined Benefit Plan Expected Return On Plan Assets
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42000000
CY2017Q1 us-gaap Defined Benefit Plan Amortization Of Gains Losses
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-17000000
CY2016Q1 us-gaap Defined Benefit Plan Amortization Of Gains Losses
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CY2017Q1 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
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CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2017Q1 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
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1206732
CY2016Q1 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
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CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
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CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
433170
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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CY2016Q1 us-gaap Environmental Exit Costs Anticipated Cost
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1380000000
CY2014Q2 us-gaap Environmental Exit Costs Anticipated Cost
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1700000000
CY2017Q1 us-gaap Number Of Operating Segments
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2
CY2017Q1 us-gaap Exploration And Production Revenue
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1277000000
CY2017Q1 hes Midstream Revenue
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0
CY2017Q1 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
370000000

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