Outstanding and Weighted Average Common Shares

12 Months Ended

Dec. 31, 2016

Earnings Per Share [Abstract]

Outstanding and Weighted Average Common Shares

17.  Outstanding and Weighted Average Common Shares

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

	2016		2015			2014
	(In millions)
Balance at January 1		286.0		285.8			325.3
Shares issued		28.8		—			—
Activity related to restricted stock awards, net		1.1		0.8			0.6
Stock options exercised		0.2		0.2			3.3
PSU vested		0.4		0.6			—
Shares repurchased (a)		—		(1.4	)		(43.4	)
Balance at December 31		316.5		286.0			285.8

(a) See Note 18, Share Repurchase Plan.

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

	2016			2015			2014
	(In millions,  except per share amounts)
Net Income (Loss) Attributable to Hess Corporation Common Stockholders:
Income (loss) from continuing operations, net of income taxes	$	(6,076	)	$	(2,959	)	$	1,692
Less: Net income (loss) attributable to noncontrolling interests		56			49			—
Net income (loss) from continuing operations attributable to Hess Corporation		(6,132	)		(3,008	)		1,692
Less: Preferred stock dividends		41			—			—
Net income (loss) from continuing operations attributable to Hess Corporation Common Stockholders		(6,173	)		(3,008	)		1,692
Income (loss) from discontinued operations, net of income taxes		—			(48	)		682
Less: Net income (loss) attributable to noncontrolling interests		—			—			57
Net income (loss) from discontinued operations attributable to Hess Corporation		—			(48	)		625
Net income (loss) attributable to Hess Corporation Common Stockholders	$	(6,173	)	$	(3,056	)	$	2,317
Weighted Average Number of Common Shares Outstanding:
Basic		309.9			283.6			303.7
Effect of dilutive securities
Restricted common stock		—			—			1.5
Stock options		—			—			1.8
Performance share units		—			—			0.7
Mandatory Convertible Preferred stock		—			—			—
Diluted		309.9			283.6			307.7
Net Income (Loss) Attributable to Hess Corporation per Common Share:
Basic:
Continuing operations	$	(19.92	)	$	(10.61	)	$	5.57
Discontinued operations		—			(0.17	)		2.06
Net income (loss) per common share	$	(19.92	)	$	(10.78	)	$	7.63
Diluted:
Continuing operations	$	(19.92	)	$	(10.61	)	$	5.50
Discontinued operations		—			(0.17	)		2.03
Net income (loss) per common share	$	(19.92	)	$	(10.78	)	$	7.53

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

	2016		2015		2014
	(In millions)
Restricted common stock		3.3		2.9		—
Stock options		6.9		6.9		1.4
Performance share units		0.9		1.0		—
Common shares from conversion of preferred stock		11.2		—		—

In 2016, 2015 and 2014, cash dividends declared on common stock totaled $1.00 per share ($0.25 per quarter).