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Share-based Compensation (Tables)
 12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Share-based Compensation Cost by Award Type Share‑based compensation expense consisted of the following:
 202120202019
 (In millions)
Restricted stock$49 $51 $53 
Performance share units18 18 22 
Stock options10 10 10 
Share-based compensation expense before income taxes$77 $79 $85 
Income tax benefit on share-based compensation expense$— $— $— 
Summary of Restricted Stock Award Activity The following is a summary of restricted stock award activity in 2021:
 Shares of Restricted Common StockWeighted - Average Price on Date of Grant
 (In thousands, except per share amounts)
Outstanding at January 1, 20211,917 $51.94 
Granted781 75.11 
Vested (a)(980)52.72 
Forfeited(102)57.16 
Outstanding at December 31, 20211,616 $62.33 
(a)In 2021, restricted stock with a vesting date fair value of $72 million were vested (2020: $51 million; 2019: $102 million).
Summary of Performance Share Units Activity The following is a summary of PSU activity in 2021:
 Performance Share UnitsWeighted - Average Fair Value on Date of Grant
 (In thousands, except per share amounts)
Outstanding at January 1, 2021806 $62.36 
Granted205 86.70 
Vested (a)(274)59.65 
Forfeited(4)62.66 
Outstanding at December 31, 2021733 $70.17 
(a)In 2021, PSU’s with a vesting date fair value of $30 million were vested (2020: $48 million; 2019: $16 million).
Assumptions to Estimate Fair Value of Performance Share Units
The following weighted average assumptions were utilized to estimate the fair value of PSU awards:
 202120202019
Risk free interest rate0.29 %0.52 %2.48 %
Stock price volatility0.5790.3740.369
Contractual term in years3.03.03.0
Grant date price of Hess common stock$75.04 $49.72 $56.74 
Summary of Stock Options Activity The following is a summary of stock options activity in 2021:
 Number of options
(In thousands)		Weighted Average Exercise Price per ShareWeighted Average Remaining Contractual Term
Outstanding at January 1, 20214,382 $61.57 5.1 years
Granted319 75.04 
Exercised(1,538)49.87 
Cancelled(1,049)83.88 
Forfeited(27)52.07 
Outstanding at December 31, 20212,087 $61.15 6.5 years
Assumptions to Estimate Fair Value of Stock Options
The following weighted average assumptions were utilized to estimate the fair value of stock options:
 202120202019
Risk free interest rate0.95 %0.64 %2.55 %
Stock price volatility0.4700.3720.359
Dividend yield1.33 %2.01 %1.76 %
Expected life in years6.06.06.0
Weighted average fair value per option granted$29.66 $14.30 $18.08