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Segment Information (Tables)
 12 Months Ended
Dec. 31, 2013
Segment Reporting [Abstract]  
Financial Data by Operating Segment

The following table presents financial data by operating segment:

 

     Exploration
and
Production		      Retail
Marketing
and Other		     Corporate     Total  
     (In millions)  

2013

          

Operating revenues (a)

    $   11,905      $   10,379     $ —     $   22,284  
  

 

 

     

 

 

    

 

 

    

 

 

  

Net income (loss) from continuing operations attributable
to Hess Corporation

    $ 4,303      $ (65 )    $ (440 )    $ 3,798  
  

 

 

     

 

 

    

 

 

    

 

 

  

Interest expense

    $ —      $ —     $ 406     $ 406  

Depreciation, depletion and amortization

      2,671        84       15       2,770  

Asset impairments

      289        —       —       289  

Provision (benefit) for income taxes

      831        (39 )      (267 )      525  

Investments in affiliates

      109        578       —       687  

Identifiable assets (b)

      37,863        2,644       939       41,446  

Capital employed (c)

      27,850        1,597         1,939       31,386  

Capital expenditures

      5,709        73       58       5,840  
                                   

2012

          

Operating revenues (a)

    $ 12,245      $ 11,136     $ —     $ 23,381  
  

 

 

     

 

 

    

 

 

    

 

 

  

Net Income (loss) from continuing operations attributable
to Hess Corporation

    $ 2,212      $ 35     $ (418 )    $ 1,829  
  

 

 

     

 

 

    

 

 

    

 

 

  

Interest expense

    $ —      $ —     $ 419     $ 419  

Depreciation, depletion and amortization

      2,853        56       13       2,922  

Asset impairments

      582        —       —       582  

Provision (benefit) for income taxes

      1,793        29       (263 )      1,559  

Investments in affiliates

      75        368       —       443  

Identifiable assets (b)

      37,687        2,066       615       40,368  

Capital employed (c)

      26,339        1,212       405       27,956  

Capital expenditures

      7,676        61       6       7,743  
                                   

2011

          

Operating revenues (a)

    $ 10,646      $ 10,805     $ —     $ 21,451  
  

 

 

     

 

 

    

 

 

    

 

 

  

Net income (loss) from continuing operations attributable
to Hess Corporation

    $ 2,675      $ (729 )    $ (388 )    $ 1,558  
  

 

 

     

 

 

    

 

 

    

 

 

  

Loss from equity investment in HOVENSA L.L.C.

    $ —      $ (1,073 )    $ —     $ (1,073 ) 

Interest expense

      —        —       383       383  

Depreciation, depletion and amortization

      2,305        55       13       2,373  

Asset impairments

      358        —       —       358  

Provision (benefit) for income taxes

      1,313        (349 )      (255 )      709  

Investments in affiliates

      97        287       —       384  

Identifiable assets (b)

      32,323        2,960       511       35,794  

Capital employed (c)

      22,699        1,453       (387 )      23,765  

Capital expenditures

      6,888        50       3       6,941  

 

 

 

(a)

Consists of Sales and other operating revenues that are reported net of excise and similar taxes in the Statement of Consolidated Income, which amounted to approximately $1,230 million, $1,530 million and $1,450 million in 2013, 2012 and 2011, respectively.

 

(b)

Excludes identifiable assets related to the discontinued operations.

 

(c)

E&P, Retail Marketing and Other and Corporate only. Calculated as equity plus debt.
Financial Information by Major Geographic Area

The following table presents financial information by major geographic area:

 

    United
States		    Europe   Africa    Asia
and
Other		    Total
    (In millions)

2013

                       

Operating revenues

     $ 16,589        $   1,336       $   2,736        $   1,623        $ 22,284  

Property, plant and equipment (net) (b)

       16,082          7,475  (a)       2,310          2,899          28,766  

2012

                       

Operating revenues

     $ 16,588        $ 2,530       $ 2,484        $ 1,779        $ 23,381  

Property, plant and equipment (net) (b)

       13,914          8,172  (a)       2,517          3,875          28,478  

2011

                       

Operating revenues

     $ 14,916        $ 3,137       $ 1,782        $ 1,616        $ 21,451  

Property, plant and equipment (net) (b)

       11,172          6,826  (a)       2,355          4,033          24,386  

 

 

 

(a)

Of the total Europe property, plant and equipment (net), Norway represented $6,348 million, $6,426 million and $5,031 million in 2013, 2012 and 2011, respectively.

 

(b)

Excludes property, plant and equipment (net) related to the discontinued operations.