Segment Information (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Financial Data by Operating Segments

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

	Exploration and Production		Midstream		Corporate, Interest and Other		Eliminations		Total
2023
Sales and other operating revenues	$	10,500	$	11	$	—	$	—	$	10,511
Intersegment revenues	—		1,338		—		(1,338)		—
Total sales and other operating revenues	$	10,500	$	1,349	$	—	$	(1,338)	$	10,511
Net income (loss) attributable to Hess Corporation	$	1,601	$	252	$	(471)	$	—	$	1,382
Interest expense	—		179		299		—		478
Depreciation, depletion and amortization	1,852		193		1		—		2,046
Impairment and other	82		—		—		—		82
Provision for income taxes	695		38		—		—		733
Investment in affiliates	76		90		—		—		166
Identifiable assets	17,931		3,984		2,092		—		24,007
Capital expenditures	4,033		246		—		—		4,279
2022
Sales and other operating revenues	$	11,324	$	—	$	—	$	—	$	11,324
Intersegment revenues	—		1,273		—		(1,273)		—
Total 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 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	$	7,473	$	—	$	—	$	—	$	7,473
Intersegment revenues	—		1,204		—		(1,204)		—
Total 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 for income taxes	585		15		—		—		600
Capital expenditures	1,698		183		—		—		1,881

Corporate, Interest and Other had interest income of $82 million in 2023 (2022: $32 million, 2021: $1 million) which is included in Other, net in the Statement of Consolidated Income.

Financial Information by Major Geographic Area

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)
2023
Sales and Other Operating Revenues	$	6,092	$	3,494	$	925	$	—	$	—	$	10,511
Property, Plant and Equipment (Net) (b)	10,554		5,957		872		42		7		17,432
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

(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 2023 includes $7,325 million (2022: $6,764 million) attributable to the E&P segment and $3,229 million (2022: $3,173 million) attributable to the Midstream segment