Outstanding and Weighted Average Common Shares (Tables)

12 Months Ended

Dec. 31, 2015

Earnings Per Share [Abstract]

Changes in Outstanding Common Shares

The following table provides the changes in our outstanding common shares:

	2015			2014			2013
	(In millions)
Balance at January 1		285.8			325.3			341.5
Activity related to restricted common stock awards, net		0.8			0.6			0.8
Stock options exercised		0.2			3.3			2.3
PSU vested		0.6			—			—
Shares repurchased (a)		(1.4	)		(43.4	)		(19.3	)
Balance at December 31		286.0			285.8			325.3

(a) See Note 17, Share Repurchase Plan.

Net Income (Loss) and Computation of Basic and Diluted Earnings Per Share

The following table presents the calculation of basic and diluted earnings per share:

	2015			2014		2013
	(In millions)
Income (loss) from continuing operations, net of income taxes	$	(2,959	)	$	1,692	$	4,036
Less: Net income (loss) attributable to noncontrolling interests		49			—		176
Net income (loss) from continuing operations attributable to Hess Corporation		(3,008	)		1,692		3,860
Income from discontinued operations, net of income taxes		(48	)		682		1,186
Less: Net income (loss) attributable to noncontrolling interests		—			57		(6	)
Net income from discontinued operations attributable Hess Corporation		(48	)		625		1,192
Net income (loss) attributable to Hess Corporation	$	(3,056	)	$	2,317	$	5,052
Weighted average common shares outstanding:
Basic		283.6			303.7		336.6
Effect of dilutive securities
Restricted common stock		—			1.5		1.4
Stock options		—			1.8		1.7
Performance share units		—			0.7		1.2
Diluted		283.6			307.7		340.9
Net income (loss) attributable to Hess Corporation per share:
Basic:
Continuing operations	$	(10.61	)	$	5.57	$	11.47
Discontinued operations		(0.17	)		2.06		3.54
Net income (loss) per share	$	(10.78	)	$	7.63	$	15.01
Diluted:
Continuing operations	$	(10.61	)	$	5.50	$	11.33
Discontinued operations		(0.17	)		2.03		3.49
Net income (loss) per share	$	(10.78	)	$	7.53	$	14.82