$HES
HESS CORP

2017 Q2 Form 10-Q Financial Statement

#000156459017015349 Filed on August 03, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q4 2016 Q2
Revenue $1.197B $1.388B $1.224B
YoY Change -2.21% 0.14% -36.74%
Cost Of Revenue $283.0M $402.0M $305.0M
YoY Change -7.21% 18.24% -23.94%
Gross Profit $914.0M $986.0M $919.0M
YoY Change -0.54% -5.74% -40.09%
Gross Profit Margin 76.36% 71.04% 75.08%
Selling, General & Admin $469.0M $668.0M $561.0M
YoY Change -16.4% 2.45% -14.22%
% of Gross Profit 51.31% 67.75% 61.04%
Research & Development $52.00M $1.033B $199.0M
YoY Change -73.87% 173.28% 121.11%
% of Gross Profit 5.69% 104.77% 21.65%
Depreciation & Amortization $741.0M $768.0M $797.0M
YoY Change -7.03% -21.87% -22.47%
% of Gross Profit 81.07% 77.89% 86.72%
Operating Expenses $1.262B $2.469B $1.557B
YoY Change -18.95% 22.65% -12.13%
Operating Profit -$348.0M -$1.483B -$638.0M
YoY Change -45.45% 53.36% 168.07%
Interest Expense $82.00M -$84.00M $85.00M
YoY Change -3.53% -2.33% -198.84%
% of Operating Profit
Other Income/Expense, Net -$7.000M -$30.00M $45.00M
YoY Change -115.56%
Pretax Income -$425.0M -$1.709B -$678.0M
YoY Change -37.32% -25.14% -4.37%
Income Tax -$8.000M $3.189B -$305.0M
% Of Pretax Income
Net Earnings -$449.0M -$4.892B -$392.0M
YoY Change 14.54% 168.64% -30.86%
Net Earnings / Revenue -37.51% -352.45% -32.03%
Basic Earnings Per Share -$1.46
Diluted Earnings Per Share -$1.46 -$15.58M -$1.29
COMMON SHARES
Basic Shares Outstanding 314.4M 316.5M 313.2M
Diluted Shares Outstanding 314.4M 313.2M

Balance Sheet

Concept 2017 Q2 2016 Q4 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.492B $2.732B $3.095B
YoY Change -19.48% 0.59% 232.44%
Cash & Equivalents $2.492B $2.732B $3.095B
Short-Term Investments
Other Short-Term Assets $464.0M $89.00M $111.0M
YoY Change 318.02% -31.54% -82.44%
Inventory $376.0M $323.0M $377.0M
Prepaid Expenses
Receivables $801.0M $940.0M $843.0M
Other Receivables $137.0M $86.00M $205.0M
Total Short-Term Assets $4.270B $4.276B $4.631B
YoY Change -7.8% -2.91% 17.96%
LONG-TERM ASSETS
Property, Plant & Equipment $22.79B $23.60B $25.77B
YoY Change -11.55% -10.46% -5.6%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $385.0M $375.0M $3.459B
YoY Change -88.87% 0.54% 20.9%
Total Long-Term Assets $23.53B $24.35B $29.60B
YoY Change -20.52% -18.18% -6.41%
TOTAL ASSETS
Total Short-Term Assets $4.270B $4.276B $4.631B
Total Long-Term Assets $23.53B $24.35B $29.60B
Total Assets $27.80B $28.62B $34.23B
YoY Change -18.8% -16.21% -3.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $504.0M $433.0M $525.0M
YoY Change -4.0% -5.25% -14.77%
Accrued Expenses $1.430B $1.609B $1.421B
YoY Change 0.63% -19.43% -43.05%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $121.0M $112.0M $102.0M
YoY Change 18.63% 30.23% 47.83%
Total Short-Term Liabilities $2.118B $2.251B $2.139B
YoY Change -0.98% -14.35% -38.76%
LONG-TERM LIABILITIES
Long-Term Debt $6.612B $6.694B $6.450B
YoY Change 2.51% 2.89% 9.54%
Other Long-Term Liabilities $2.875B $2.941B $3.244B
YoY Change -11.37% 160.27% -0.15%
Total Long-Term Liabilities $9.487B $6.694B $9.694B
YoY Change -2.14% -12.34% 6.1%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.118B $2.251B $2.139B
Total Long-Term Liabilities $9.487B $6.694B $9.694B
Total Liabilities $14.02B $14.09B $14.12B
YoY Change -0.69% 2.41% -2.35%
SHAREHOLDERS EQUITY
Retained Earnings $10.15B
YoY Change -39.01%
Common Stock $6.090B
YoY Change 38.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $13.78B $14.53B $20.12B
YoY Change
Total Liabilities & Shareholders Equity $27.80B $28.62B $34.23B
YoY Change -18.8% -16.21% -3.72%

Cashflow Statement

Concept 2017 Q2 2016 Q4 2016 Q2
OPERATING ACTIVITIES
Net Income -$449.0M -$4.892B -$392.0M
YoY Change 14.54% 168.64% -30.86%
Depreciation, Depletion And Amortization $741.0M $768.0M $797.0M
YoY Change -7.03% -21.87% -22.47%
Cash From Operating Activities $165.0M $326.0M $197.0M
YoY Change -16.24% -47.67% -69.22%
INVESTING ACTIVITIES
Capital Expenditures -$480.0M -$487.0M -$615.0M
YoY Change -21.95% -47.91% -44.69%
Acquisitions
YoY Change
Other Investing Activities $79.00M $63.00M $88.00M
YoY Change -10.23% 142.31% -3033.33%
Cash From Investing Activities -$401.0M -$424.0M -$527.0M
YoY Change -23.91% -53.36% -52.74%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 42.00M -699.0M -132.0M
YoY Change -131.82% 6254.55% 32.0%
NET CHANGE
Cash From Operating Activities 165.0M 326.0M 197.0M
Cash From Investing Activities -401.0M -424.0M -527.0M
Cash From Financing Activities 42.00M -699.0M -132.0M
Net Change In Cash -194.0M -797.0M -462.0M
YoY Change -58.01% 168.35% -19.65%
FREE CASH FLOW
Cash From Operating Activities $165.0M $326.0M $197.0M
Capital Expenditures -$480.0M -$487.0M -$615.0M
Free Cash Flow $645.0M $813.0M $812.0M
YoY Change -20.57% -47.82% -53.65%

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CY2017Q2 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
26000000
CY2016Q2 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
28000000
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
52000000
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
56000000
CY2017Q2 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
42000000
CY2016Q2 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
42000000
us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
83000000
us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
84000000
CY2017Q2 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-16000000
CY2016Q2 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-16000000
us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-33000000
us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-32000000
CY2017Q2 us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Settlements1
DefinedBenefitPlanRecognizedNetGainLossDueToSettlements1
-7000000
CY2016Q2 us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Settlements1
DefinedBenefitPlanRecognizedNetGainLossDueToSettlements1
0
us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Settlements1
DefinedBenefitPlanRecognizedNetGainLossDueToSettlements1
-7000000
us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Settlements1
DefinedBenefitPlanRecognizedNetGainLossDueToSettlements1
0
CY2017Q2 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
21000000
CY2016Q2 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
18000000
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
37000000
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
36000000
CY2017Q2 us-gaap Defined Benefit Plan Expected Future Employer Contributions Current Fiscal Year
DefinedBenefitPlanExpectedFutureEmployerContributionsCurrentFiscalYear
52000000
us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
28000000
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
314400000
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
313200000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
314200000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
306500000
us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
1209247
us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
1610190
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
438980
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
447536
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
662819
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
824225
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
CY2017Q2 us-gaap Exploration And Production Revenue
ExplorationAndProductionRevenue
1216000000
CY2017Q2 hes Midstream Revenue
MidstreamRevenue
0
CY2017Q2 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
503000000
CY2016Q2 us-gaap Exploration And Production Revenue
ExplorationAndProductionRevenue
1224000000
CY2016Q2 hes Midstream Revenue
MidstreamRevenue
0
CY2016Q2 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
501000000
us-gaap Exploration And Production Revenue
ExplorationAndProductionRevenue
2493000000
hes Midstream Revenue
MidstreamRevenue
0
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
873000000
us-gaap Exploration And Production Revenue
ExplorationAndProductionRevenue
2197000000
hes Midstream Revenue
MidstreamRevenue
0
CY2017Q2 us-gaap Long Term Debt
LongTermDebt
6733000000

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