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Weighted Average Common Shares (Tables)
9 Months Ended
Sep. 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

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

 

 

(In millions)

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

(593

)

 

$

(317

)

 

$

(1,306

)

 

$

(1,178

)

Less: Net income (loss) attributable to noncontrolling interests

 

 

31

 

 

 

22

 

 

 

91

 

 

 

62

 

Less: Preferred stock dividends

 

 

11

 

 

 

12

 

 

 

34

 

 

 

30

 

Net income (loss) attributable to Hess Corporation Common Stockholders

 

$

(635

)

 

$

(351

)

 

$

(1,431

)

 

$

(1,270

)

 

 

Weighted average number of common shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

314.5

 

 

 

313.2

 

 

 

314.3

 

 

 

308.7

 

Effect of dilutive securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Restricted common stock

 

 

 

 

 

 

 

 

 

 

 

 

Stock options

 

 

 

 

 

 

 

 

 

 

 

 

Performance share units

 

 

 

 

 

 

 

 

 

 

 

 

Mandatory Convertible Preferred stock

 

 

 

 

 

 

 

 

 

 

 

 

Diluted

 

 

314.5

 

 

 

313.2

 

 

 

314.3

 

 

 

308.7

 

 

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

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Restricted common stock

 

 

3,313,441

 

 

 

3,476,171

 

 

 

3,296,718

 

 

 

3,345,052

 

Stock options

 

 

6,509,214

 

 

 

6,945,925

 

 

 

6,452,788

 

 

 

6,886,816

 

Performance share units

 

 

709,445

 

 

 

965,634

 

 

 

514,910

 

 

 

960,998

 

Common shares from conversion of preferred stocks

 

 

13,400,515

 

 

 

12,547,650

 

 

 

12,894,078

 

 

 

10,769,864