Segment Information

3 Months Ended

Mar. 31, 2019

12. Segment Information

We currently have two operating segments, Exploration and Production, and Midstream. All unallocated costs are reflected under Corporate, Interest and Other. The following table presents operating segment financial data:

	Exploration and Production			Midstream		Corporate, Interest and Other			Eliminations			Total
	(In millions)
For the Three Months Ended March 31, 2019
Sales and Other Operating Revenues - Third-parties	$	1,572		$	—	$	—		$	—		$	1,572
Intersegment Revenues		—			190		—			(190	)		—
Sales and Other Operating Revenues	$	1,572		$	190	$	—		$	(190	)	$	1,572

Net Income (Loss) attributable to Hess Corporation	$	109		$	37	$	(114	)	$	—		$	32
Depreciation, Depletion and Amortization		464			34		—			—			498
Provision (Benefit) for Income Taxes (a)		95			—		(1	)		—			94
Capital Expenditures		515			127		—			—			642

For the Three Months Ended March 31, 2018
Sales and Other Operating Revenues - Third-parties	$	1,346		$	—	$	—		$	—		$	1,346
Intersegment Revenues		—			167		—			(167	)		—
Sales and Other Operating Revenues	$	1,346		$	167	$	—		$	(167	)	$	1,346

Net Income (Loss) attributable to Hess Corporation	$	(25	)	$	28	$	(109	)	$	—		$	(106	)
Depreciation, Depletion and Amortization		385			31		1			—			417
Provision (Benefit) for Income Taxes (a)		95			9		(31	)		—			73
Capital Expenditures		354			37		—			—			391

(a)

Commencing January 1, 2019, management changed its measurement of segment earnings to reflect income taxes on a post U.S. tax consolidation and valuation allowance assessment basis. In 2018, the provision for income taxes in the Midstream segment was 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 was presented in the E&P segment. If 2018 segment results were prepared on a basis consistent with 2019, Midstream segment net income attributable to Hess Corporation would have been $37 million and E&P segment net losses would have been $34 million in the first quarter of 2018.

Identifiable assets by operating segment were as follows:

	March 31,		December 31,
	2019		2018
	(In millions)
Exploration and Production	$	16,978	$	16,109
Midstream		3,280		3,285
Corporate, Interest and Other		1,458		2,039
Total	$	21,716	$	21,433