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Weighted Average Common Shares (Tables)
6 Months Ended
Jun. 30, 2017
Earnings Per Share [Abstract]  
Net Income (Loss) and Weighted Average Number of Common Shares Used in the Computation of Basic and Diluted Earnings Per Share

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

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

 

 

(In millions)

 

Net income (loss) attributable to Hess Corporation Common Stockholders:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

(417

)

 

$

(373

)

 

$

(713

)

 

$

(861

)

Less: Net income (loss) attributable to noncontrolling interests

 

 

32

 

 

 

19

 

 

 

60

 

 

 

40

 

Less: Preferred stock dividends

 

 

11

 

 

 

12

 

 

 

23

 

 

 

18

 

Net income (loss) attributable to Hess Corporation Common Stockholders

 

$

(460

)

 

$

(404

)

 

$

(796

)

 

$

(919

)

 

 

Weighted average number of common shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

314.4

 

 

 

313.2

 

 

 

314.2

 

 

 

306.5

 

Effect of dilutive securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Restricted common stock

 

 

 

 

 

 

 

 

 

 

 

 

Stock options

 

 

 

 

 

 

 

 

 

 

 

 

Performance share units

 

 

 

 

 

 

 

 

 

 

 

 

Mandatory Convertible Preferred stock

 

 

 

 

 

 

 

 

 

 

 

 

Diluted

 

 

314.4

 

 

 

313.2

 

 

 

314.2

 

 

 

306.5

 

 

Summary of Antidilutive Shares Excluded from Computation of Diluted Shares

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

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Restricted common stock

 

 

3,450,490

 

 

 

3,522,376

 

 

 

3,288,356

 

 

 

3,279,493

 

Stock options

 

 

6,550,253

 

 

 

6,994,061

 

 

 

6,424,574

 

 

 

6,857,262

 

Performance share units

 

 

522,280

 

 

 

1,031,420

 

 

 

417,642

 

 

 

958,679

 

Common shares from conversion of preferred stocks

 

 

12,734,069

 

 

 

12,547,650

 

 

 

12,640,859

 

 

 

9,880,971