Segment Information

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Segment Information

18.  Segment Information

We currently have two operating segments, E&P and Midstream.  The E&P operating segment explores for, develops, produces, purchases and sells crude oil, NGL and natural gas.  Production operations over the three years ended December 31, 2022 were in Guyana, the U.S., Malaysia and the JDA, Libya (sold in November 2022) and Denmark (sold in August 2021). The Midstream operating segment provides fee-based services, including gathering, compressing and processing natural gas and fractionating NGL; gathering, terminaling, loading and transporting crude oil and NGL; storing and terminaling propane, and water handling services primarily in the Bakken shale play of North Dakota.  All unallocated costs are reflected under Corporate, Interest and Other.

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

	Exploration and Production		Midstream		Corporate, Interest and Other		Eliminations		Total
2022
Sales and Other Operating Revenues – Third parties	$	11,324	$	—	$	—	$	—	$	11,324
Intersegment Revenues	—		1,273		—		(1,273)		—
Sales and Other Operating Revenues	$	11,324	$	1,273	$	—	$	(1,273)	$	11,324
Net Income (Loss) Attributable to Hess Corporation	$	2,396	$	269	$	(569)	$	—	$	2,096
Interest Expense	—		150		343		—		493
Depreciation, Depletion and Amortization	1,520		181		2		—		1,703
Impairment and Other	54		—		—		—		54
Provision (Benefit) for Income Taxes	1,072		27		—		—		1,099
Investment in Affiliates	88		94		1		—		183
Identifiable Assets	15,022		3,775		2,898		—		21,695
Capital Expenditures	2,589		232		—		—		2,821
2021
Sales and Other Operating Revenues – Third parties	$	7,473	$	—	$	—	$	—	$	7,473
Intersegment Revenues	—		1,204		—		(1,204)		—
Sales and Other Operating Revenues	$	7,473	$	1,204	$	—	$	(1,204)	$	7,473
Net Income (Loss) Attributable to Hess Corporation	$	770	$	286	$	(497)	$	—	$	559
Interest Expense	—		105		376		—		481
Depreciation, Depletion and Amortization	1,361		166		1		—		1,528
Impairment and Other	147		—		—		—		147
Provision (Benefit) for Income Taxes	585		15		—		—		600
Investment in Affiliates	94		102		1		—		197
Identifiable Assets	14,173		3,671		2,671		—		20,515
Capital Expenditures	1,698		183		—		—		1,881
2020
Sales and Other Operating Revenues – Third parties	$	4,667	$	—	$	—	$	—	$	4,667
Intersegment Revenues	—		1,092		—		(1,092)		—
Sales and Other Operating Revenues	$	4,667	$	1,092	$	—	$	(1,092)	$	4,667
Net Income (Loss) Attributable to Hess Corporation	$	(2,841)	$	230	$	(482)	$	—	$	(3,093)
Interest Expense	—		95		373		—		468
Depreciation, Depletion and Amortization	1,915		157		2		—		2,074
Impairment and Other	2,126		—		—		—		2,126
Provision (Benefit) for Income Taxes	(12)		7		(6)		—		(11)
Capital Expenditures	1,678		253		—		—		1,931

Corporate, Interest and Other had interest income of $32 million in 2022 (2021: $1 million, 2020: $5 million) which is included in Other, net in the Statement of Consolidated Income.

The following table presents financial information by major geographic area:

	United States		Guyana		Malaysia and JDA		Other (a)		Corporate, Interest and other		Total
	(In millions)
2022
Sales and Other Operating Revenues	$	7,214	$	2,636	$	873	$	601	$	—	$	11,324
Property, Plant and Equipment (Net) (b)	9,937		4,042		1,065		46		8		15,098
2021
Sales and Other Operating Revenues	$	5,378	$	754	$	738	$	603	$	—	$	7,473
Property, Plant and Equipment (Net) (b)	9,721		3,064		1,035		352		10		14,182
2020
Sales and Other Operating Revenues	$	3,604	$	350	$	511	$	202	$	—	$	4,667

(a)Other includes our interests in Libya (sold in November 2022), Denmark (sold in August 2021), Suriname and Canada.

(b)Property, plant and equipment in the United States in 2022 includes $6,764 million (2021: $6,596 million) attributable to the E&P segment and $3,173 million (2021: $3,125 million) attributable to the Midstream segment.