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Weighted Average Common Shares
 9 Months Ended
Sep. 30, 2016
Earnings Per Share [Abstract]  
Weighted Average Common Shares

11.  Weighted Average Common Shares

The Net income (loss) and weighted average number of common shares used in the basic and diluted earnings per share computations were as follows:  

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2016

 

 

2015

 

 

2016

 

 

2015

 

 

 

(In millions,  except per share amounts)

 

Net Income (Loss) Attributable to Hess Corporation Common Stockholders:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations, net of income taxes

 

$

(317

)

 

$

(239

)

 

$

(1,178

)

 

$

(1,168

)

Less: Net income (loss) attributable to noncontrolling interests

 

 

22

 

 

 

27

 

 

 

62

 

 

 

27

 

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

 

 

(339

)

 

 

(266

)

 

 

(1,240

)

 

 

(1,195

)

Less: Preferred stock dividends

 

 

12

 

 

 

—

 

 

 

30

 

 

 

—

 

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

 

 

(351

)

 

 

(266

)

 

 

(1,270

)

 

 

(1,195

)

Income from discontinued operations, net of income taxes

 

 

—

 

 

 

(13

)

 

 

—

 

 

 

(40

)

Net income (loss) attributable to Hess Corporation Common Stockholders

 

$

(351

)

 

$

(279

)

 

$

(1,270

)

 

$

(1,235

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average Number of Common Shares Outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

313.2

 

 

 

283.5

 

 

 

308.7

 

 

 

283.8

 

Effect of dilutive securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Restricted common stock

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Stock options

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Performance share units

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Mandatory Convertible Preferred stock

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Diluted

 

 

313.2

 

 

 

283.5

 

 

 

308.7

 

 

 

283.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Income (Loss) Attributable to Hess Corporation Per Common Share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

(1.12

)

 

$

(0.94

)

 

$

(4.11

)

 

$

(4.21

)

Discontinued operations

 

 

—

 

 

 

(0.04

)

 

 

—

 

 

 

(0.14

)

Net income (loss) per common share

 

$

(1.12

)

 

$

(0.98

)

 

$

(4.11

)

 

$

(4.35

)

Diluted:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

(1.12

)

 

$

(0.94

)

 

$

(4.11

)

 

$

(4.21

)

Discontinued operations

 

 

—

 

 

 

(0.04

)

 

 

—

 

 

 

(0.14

)

Net income (loss) per common share

 

$

(1.12

)

 

$

(0.98

)

 

$

(4.11

)

 

$

(4.35

)

 

 

The following table summarizes the number of antidilutive shares excluded from the computation of diluted shares:

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2016

 

 

2015

 

 

2016

 

 

2015

 

Restricted common stock

 

 

3,476,171

 

 

 

2,955,200

 

 

 

3,345,052

 

 

 

2,953,075

 

Stock options

 

 

6,945,925

 

 

 

6,983,524

 

 

 

6,886,816

 

 

 

6,928,958

 

Performance share units

 

 

965,634

 

 

 

915,238

 

 

 

960,998

 

 

 

988,963

 

Common shares upon conversion of Preferred stock

 

 

12,547,650

 

 

 

—

 

 

 

10,769,864

 

 

 

—

 

During the nine months ended September 30, 2016, we granted 1,656,598 shares of restricted stock (2015: 1,127,242), 447,536 performance share units (2015: 362,873) and 824,225 stock options (2015: 521,773).