$HES
HESS CORP

2017 Q3 Form 10-Q Financial Statement

#000156459017021928 Filed on November 07, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q3
Revenue $1.666B $1.196B
YoY Change 39.3% -29.19%
Cost Of Revenue $365.0M $249.0M
YoY Change 46.59% -35.32%
Gross Profit $983.0M $928.0M
YoY Change 5.93% -26.0%
Gross Profit Margin 59.0% 77.59%
Selling, General & Admin $464.0M $527.0M
YoY Change -11.95% -15.95%
% of Gross Profit 47.2% 56.79%
Research & Development $41.00M $78.00M
YoY Change -47.44% -45.83%
% of Gross Profit 4.17% 8.41%
Depreciation & Amortization $759.0M $811.0M
YoY Change -6.41% -17.91%
% of Gross Profit 77.21% 87.39%
Operating Expenses $1.264B $1.416B
YoY Change -10.73% -19.5%
Operating Profit -$281.0M -$488.0M
YoY Change -42.42% -3.37%
Interest Expense $79.00M $84.00M
YoY Change -5.95% 0.0%
% of Operating Profit
Other Income/Expense, Net $22.00M $19.00M
YoY Change 15.79% -159.38%
Pretax Income -$2.567B -$633.0M
YoY Change 305.53% 17.44%
Income Tax -$1.974B -$316.0M
% Of Pretax Income
Net Earnings -$624.0M -$339.0M
YoY Change 84.07% 34.52%
Net Earnings / Revenue -37.45% -28.34%
Basic Earnings Per Share -$2.02 -$1.12
Diluted Earnings Per Share -$1.981M -$1.12
COMMON SHARES
Basic Shares Outstanding 314.5M 313.2M
Diluted Shares Outstanding 313.2M

Balance Sheet

Concept 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.526B $3.529B
YoY Change -28.42% 17.13%
Cash & Equivalents $2.526B $3.529B
Short-Term Investments
Other Short-Term Assets $142.0M $108.0M
YoY Change 31.48% -79.51%
Inventory $372.0M $403.0M
Prepaid Expenses
Receivables $933.0M $771.0M
Other Receivables $110.0M $82.00M
Total Short-Term Assets $4.083B $4.893B
YoY Change -16.55% -12.58%
LONG-TERM ASSETS
Property, Plant & Equipment $20.28B $25.54B
YoY Change -20.59% -5.01%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.878B $3.654B
YoY Change -48.6% 45.98%
Total Long-Term Assets $22.52B $29.57B
YoY Change -23.84% -4.19%
TOTAL ASSETS
Total Short-Term Assets $4.083B $4.893B
Total Long-Term Assets $22.52B $29.57B
Total Assets $26.60B $34.46B
YoY Change -22.81% -5.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $421.0M $458.0M
YoY Change -8.08% -14.71%
Accrued Expenses $1.570B $1.433B
YoY Change 9.56% -25.75%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $122.0M $666.0M
YoY Change -81.68% 753.85%
Total Short-Term Liabilities $2.214B $2.617B
YoY Change -15.4% -0.27%
LONG-TERM LIABILITIES
Long-Term Debt $6.592B $6.671B
YoY Change -1.18% 3.04%
Other Long-Term Liabilities $2.782B $3.042B
YoY Change -8.55% -9.92%
Total Long-Term Liabilities $9.374B $9.713B
YoY Change -3.49% -1.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.214B $2.617B
Total Long-Term Liabilities $9.374B $9.713B
Total Liabilities $13.47B $14.62B
YoY Change -7.89% -3.33%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $13.13B $19.84B
YoY Change
Total Liabilities & Shareholders Equity $26.60B $34.46B
YoY Change -22.81% -5.48%

Cashflow Statement

Concept 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income -$624.0M -$339.0M
YoY Change 84.07% 34.52%
Depreciation, Depletion And Amortization $759.0M $811.0M
YoY Change -6.41% -17.91%
Cash From Operating Activities $88.00M $332.0M
YoY Change -73.49% 17.73%
INVESTING ACTIVITIES
Capital Expenditures -$513.0M -$529.0M
YoY Change -3.02% -45.07%
Acquisitions
YoY Change
Other Investing Activities $603.0M $3.000M
YoY Change 20000.0% -57.14%
Cash From Investing Activities $90.00M -$526.0M
YoY Change -117.11% -44.98%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -144.0M 628.0M
YoY Change -122.93% -77.21%
NET CHANGE
Cash From Operating Activities 88.00M 332.0M
Cash From Investing Activities 90.00M -526.0M
Cash From Financing Activities -144.0M 628.0M
Net Change In Cash 34.00M 434.0M
YoY Change -92.17% -79.15%
FREE CASH FLOW
Cash From Operating Activities $88.00M $332.0M
Capital Expenditures -$513.0M -$529.0M
Free Cash Flow $601.0M $861.0M
YoY Change -30.2% -30.84%

Facts In Submission

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DefinedBenefitPlanRecognizedNetGainLossDueToSettlements1
0
CY2016Q3 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
16000000
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
51000000
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
52000000
CY2017Q3 us-gaap Defined Benefit Plan Expected Future Employer Contributions Current Fiscal Year
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52000000
us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
40000000
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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314500000
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
313200000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
314300000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
308700000
us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
1214460
us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
1656598
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
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2
CY2017Q3 us-gaap Exploration And Production Revenue
ExplorationAndProductionRevenue
1370000000
CY2017Q3 hes Midstream Revenue
MidstreamRevenue
0
CY2017Q3 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
553000000
CY2016Q3 us-gaap Exploration And Production Revenue
ExplorationAndProductionRevenue
1177000000
CY2016Q3 hes Midstream Revenue
MidstreamRevenue
0
us-gaap Exploration And Production Revenue
ExplorationAndProductionRevenue
3863000000
hes Midstream Revenue
MidstreamRevenue
0
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
1426000000
us-gaap Exploration And Production Revenue
ExplorationAndProductionRevenue
3374000000
hes Midstream Revenue
MidstreamRevenue
0
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
1512000000
CY2017Q3 us-gaap Derivative Asset Fair Value Gross Asset Including Not Subject To Master Netting Arrangement
DerivativeAssetFairValueGrossAssetIncludingNotSubjectToMasterNettingArrangement
148000000
CY2017Q3 us-gaap Derivative Assets
DerivativeAssets
148000000
CY2016Q4 us-gaap Derivative Asset Fair Value Gross Asset Including Not Subject To Master Netting Arrangement
DerivativeAssetFairValueGrossAssetIncludingNotSubjectToMasterNettingArrangement
9000000
CY2016Q4 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
1000000
CY2016Q4 us-gaap Derivative Assets
DerivativeAssets
8000000
CY2017Q3 us-gaap Derivative Liability Fair Value Gross Liability Including Not Subject To Master Netting Arrangement
DerivativeLiabilityFairValueGrossLiabilityIncludingNotSubjectToMasterNettingArrangement
3000000
CY2017Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
3000000
CY2016Q4 us-gaap Derivative Liability Fair Value Gross Liability Including Not Subject To Master Netting Arrangement
DerivativeLiabilityFairValueGrossLiabilityIncludingNotSubjectToMasterNettingArrangement
1000000
CY2016Q4 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
1000000
CY2016Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
0
CY2017Q3 us-gaap Long Term Debt
LongTermDebt
6714000000

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