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Segment Information (Tables)
12 Months Ended
Dec. 31, 2017
Segment Reporting [Abstract]  
Financial Data by Operating Segment

The following table presents operating segment financial data for continuing operations (in millions):

2017

 

Exploration and Production

 

 

Midstream

 

 

Corporate, Interest and Other

 

 

Eliminations

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Revenues - Third-parties

 

$

5,460

 

 

$

6

 

 

$

 

 

$

 

 

$

5,466

 

Intersegment Revenues

 

 

 

 

 

611

 

 

 

 

 

 

(611

)

 

 

 

Operating Revenues

 

$

5,460

 

 

$

617

 

 

$

 

 

$

(611

)

 

$

5,466

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Income (Loss) from Continuing Operations Attributable to Hess Corporation

 

$

(3,653

)

 

$

42

 

 

$

(463

)

 

$

 

 

$

(4,074

)

Interest Expense

 

 

 

 

 

26

 

 

 

299

 

 

 

 

 

 

325

 

Depreciation, Depletion and Amortization

 

 

2,736

 

 

 

123

 

 

 

24

 

 

 

 

 

 

2,883

 

Impairment

 

 

4,203

 

 

 

 

 

 

 

 

 

 

 

 

4,203

 

Provision (Benefit) for Income Taxes (a)

 

 

(1,842

)

 

 

31

 

 

 

(26

)

 

 

 

 

 

(1,837

)

Investment in Affiliates

 

 

134

 

 

 

 

 

 

 

 

 

 

 

 

134

 

Identifiable Assets

 

 

15,613

 

 

 

3,329

 

 

 

4,170

 

 

 

 

 

 

23,112

 

Capital Expenditures

 

 

1,852

 

 

 

121

 

 

 

 

 

 

 

 

 

1,973

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Revenues - Third-parties

 

$

4,755

 

 

$

7

 

 

$

 

 

$

 

 

$

4,762

 

Intersegment Revenues

 

 

 

 

 

562

 

 

 

 

 

 

(562

)

 

 

 

Operating Revenues

 

$

4,755

 

 

$

569

 

 

$

 

 

$

(562

)

 

$

4,762

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Income (Loss) from Continuing Operations Attributable to Hess Corporation

 

$

(4,964

)

 

$

42

 

 

$

(1,210

)

 

$

 

 

$

(6,132

)

Interest Expense

 

 

 

 

 

19

 

 

 

319

 

 

 

 

 

 

338

 

Depreciation, Depletion and Amortization

 

 

3,113

 

 

 

121

 

 

 

10

 

 

 

 

 

 

3,244

 

Impairment

 

 

 

 

 

67

 

 

 

 

 

 

 

 

 

67

 

Provision (Benefit) for Income Taxes

 

 

1,587

 

 

 

26

 

 

 

609

 

 

 

 

 

 

2,222

 

Investment in Affiliates

 

 

146

 

 

 

 

 

 

 

 

 

 

 

 

146

 

Identifiable Assets

 

 

22,856

 

 

 

3,165

 

 

 

2,600

 

 

 

 

 

 

28,621

 

Capital Expenditures

 

 

1,638

 

 

 

283

 

 

 

 

 

 

 

 

 

1,921

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Revenues - Third-parties

 

$

6,627

 

 

$

9

 

 

$

 

 

$

 

 

$

6,636

 

Intersegment Revenues

 

 

 

 

 

625

 

 

 

 

 

 

(625

)

 

 

 

Operating Revenues

 

$

6,627

 

 

$

634

 

 

$

 

 

$

(625

)

 

$

6,636

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Income (Loss) from Continuing Operations Attributable to Hess Corporation

 

$

(2,727

)

 

$

96

 

 

$

(377

)

 

$

 

 

$

(3,008

)

Interest Expense

 

 

 

 

 

10

 

 

 

331

 

 

 

 

 

 

341

 

Depreciation, Depletion and Amortization

 

 

3,833

 

 

 

107

 

 

 

15

 

 

 

 

 

 

3,955

 

Impairment

 

 

1,616

 

 

 

 

 

 

 

 

 

 

 

 

1,616

 

Provision (Benefit) for Income Taxes

 

 

(1,117

)

 

 

58

 

 

 

(240

)

 

 

 

 

 

(1,299

)

Capital Expenditures

 

 

3,749

 

 

 

300

 

 

 

 

 

 

 

 

 

4,049

 

 

(a)

The provision for income taxes in the Midstream segment in 2017 is presented before consolidating its operations with other U.S. activities of the Company and prior to evaluating realizability of net U.S. deferred taxes.  An offsetting impact is presented in the E&P segment.

 

 

Financial Information by Major Geographic Area

The following table presents financial information by major geographic area:

 

 

United States

 

 

Europe

 

 

Africa

 

 

Asia and Other Countries

 

 

Corporate, Interest and other

 

 

Total

 

 

 

(In millions)

 

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating revenues

 

$

3,692

 

 

$

629

 

 

$

675

 

 

$

470

 

 

$

 

 

$

5,466

 

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

 

 

(2,433

)

 

 

(1,383

)

 

 

259

 

 

 

(54

)

 

 

(463

)

 

 

(4,074

)

Depreciation, depletion and amortization

 

 

1,942

 

 

 

381

 

 

 

263

 

 

 

273

 

 

 

24

 

 

 

2,883

 

Impairment

 

 

1,700

 

 

 

2,503

 

 

 

 

 

 

 

 

 

 

 

 

4,203

 

Provision (benefit) for income taxes

 

 

 

 

 

(1,999

)

 

 

197

 

 

 

(9

)

 

 

(26

)

 

 

(1,837

)

Identifiable assets

 

 

13,640

 

 

 

1,024

 

 

 

428

 

 

 

3,850

 

 

 

4,170

 

 

 

23,112

 

Property, plant and equipment (net)

 

 

11,894

 

 

 

946

 

 

 

365

 

 

 

2,964

 

 

 

23

 

 

 

16,192

 

Capital expenditures

 

 

1,387

 

 

 

141

 

 

 

30

 

 

 

415

 

 

 

 

 

 

1,973

 

2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating revenues

 

$

3,085

 

 

$

610

 

 

$

601

 

 

$

466

 

 

$

 

 

$

4,762

 

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

 

 

(2,353

)

 

 

(439

)

 

 

(355

)

 

 

(1,775

)

 

 

(1,210

)

 

 

(6,132

)

Depreciation, depletion and amortization

 

 

2,133

 

 

 

502

 

 

 

375

 

 

 

224

 

 

 

10

 

 

 

3,244

 

Impairment

 

 

67

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

67

 

Provision (benefit) for income taxes

 

 

411

 

 

 

243

 

 

 

244

 

 

 

715

 

 

 

609

 

 

 

2,222

 

Identifiable assets

 

 

16,096

 

 

 

5,180

 

 

 

1,507

 

 

 

3,238

 

 

 

2,600

 

 

 

28,621

 

Property, plant and equipment (net) (a)

 

 

14,596

 

 

 

4,907

 

 

 

1,266

 

 

 

2,779

 

 

 

47

 

 

 

23,595

 

Capital expenditures

 

 

1,400

 

 

 

59

 

 

 

10

 

 

 

452

 

 

 

 

 

 

1,921

 

2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating revenues

 

$

4,150

 

 

$

870

 

 

$

945

 

 

$

671

 

 

$

 

 

$

6,636

 

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

 

 

(1,834

)

 

 

(408

)

 

 

(274

)

 

 

(115

)

 

 

(377

)

 

 

(3,008

)

Depreciation, depletion and amortization

 

 

2,449

 

 

 

635

 

 

 

539

 

 

 

317

 

 

 

15

 

 

 

3,955

 

Impairment

 

 

986

 

 

 

279

 

 

 

100

 

 

 

251

 

 

 

 

 

 

1,616

 

Provision (benefit) for income taxes

 

 

(522

)

 

 

(84

)

 

 

(48

)

 

 

(405

)

 

 

(240

)

 

 

(1,299

)

Capital expenditures

 

 

2,727

 

 

 

297

 

 

 

160

 

 

 

865

 

 

 

 

 

 

4,049

 

(a)

Of the total Europe, Property, plant and equipment (net), Norway represented $3,893 million in 2016.