Segment Information

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Segment Information

11.  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 September 30, 2023
Sales and other operating revenues	$	2,798	$	2	$	—	$	—	$	2,800
Intersegment revenues	—		361		—		(361)		—
Total sales and other operating revenues	$	2,798	$	363	$	—	$	(361)	$	2,800
Net income (loss) attributable to Hess Corporation	$	529	$	66	$	(91)	$	—	$	504
Depreciation, depletion and amortization	451		48		—		—		499
Provision for income taxes	203		12		—		—		215
Capital expenditures	948		65		—		—		1,013
For the Three Months Ended September 30, 2022
Sales and other operating revenues	$	3,122	$	—	$	—	$	—	$	3,122
Intersegment revenues	—		335		—		(335)		—
Total sales and other operating revenues	$	3,122	$	335	$	—	$	(335)	$	3,122
Net income (loss) attributable to Hess Corporation	$	572	$	68	$	(125)	$	—	$	515
Depreciation, depletion and amortization	425		46		—		—		471
Impairment and other	54		—		—		—		54
Provision for income taxes	275		7		—		—		282
Capital expenditures	666		60		—		—		726
For the Nine Months Ended September 30, 2023
Sales and other operating revenues	$	7,494	$	6	$	—	$	—	$	7,500
Intersegment revenues	—		986		—		(986)		—
Total sales and other operating revenues	$	7,494	$	992	$	—	$	(986)	$	7,500
Net income (loss) attributable to Hess Corporation	$	1,089	$	189	$	(309)	$	—	$	969
Depreciation, depletion and amortization	1,344		142		1		—		1,487
Impairment and other	82		—		—		—		82
Provision for income taxes	525		26		—		—		551
Capital expenditures	2,587		174		—		—		2,761
For the Nine Months Ended September 30, 2022
Sales and other operating revenues	$	8,390	$	—	$	—	$	—	$	8,390
Intersegment revenues	—		961		—		(961)		—
Total sales and other operating revenues	$	8,390	$	961	$	—	$	(961)	$	8,390
Net income (loss) attributable to Hess Corporation	$	1,755	$	205	$	(361)	$	—	$	1,599
Depreciation, depletion and amortization	1,062		135		2		—		1,199
Impairment and other	54		—		—		—		54
Provision for income taxes	788		19		—		—		807
Capital expenditures	1,802		169		—		—		1,971

Corporate, Interest and Other had interest income of $21 million and $62 million for the three and nine months ended September 30, 2023, respectively, compared to $10 million and $13 million for both the three and nine months ended September 30, 2022. Interest income is included in Other, net in the Statement of Consolidated Income.

Identifiable assets by operating segment were as follows:

	September 30, 2023		December 31, 2022
	(In millions)
Exploration and Production	$	16,745	$	15,022
Midstream	3,971		3,775
Corporate, Interest and Other	2,485		2,898
Total	$	23,201	$	21,695