Discontinued Operations

3 Months Ended

Mar. 31, 2015

Discontinued Operations And Disposal Groups [Abstract]

Discontinued Operations

2. Discontinued Operations

The results of operations for the Corporation’s divested retail business and energy trading joint venture, HETCO, have been reported as discontinued operations in the Statement of Consolidated Income for all periods presented.  The Corporation’s interest in HETCO was sold in February 2015 and the retail business was sold in September 2014.

Sales and other operating revenues and Income (loss) from discontinued operations were as follows:

	Three Months Ended
	March 31,
	2015			2014
	(In millions)
Sales and other operating revenues	$	14		$	3,167
Income (loss) from discontinued operations before income taxes	$	(24	)	$	73
Current tax provision (benefit)		—			—
Deferred tax provision (benefit)		(11	)		16
Provision (benefit) for income taxes		(11	)		16
Income (loss) from discontinued operations, net of income taxes	$	(13	)	$	57
Less: Net income (loss) attributable to noncontrolling interests		—			35
Income (loss) from discontinued operations attributable to Hess Corporation	$	(13	)	$	22

At December 31, 2014, HETCO assets totaling $1,035 million, which consisted of accounts receivable and other long‑lived assets, were reported in Other current assets, and liabilities totaling $797 million, which consisted primarily of accounts payable, were reported in Accrued liabilities in the Consolidated Balance Sheet.