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Share-based Compensation (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Share-based Compensation Cost by Award Type Share‑based compensation expense consisted of the following:
 202420232022
 (In millions)
Restricted stock$88 $55 $52 
Performance share units8 21 20 
Stock options4 11 11 
Share-based compensation expense before income taxes$100 $87 $83 
Income tax benefit on share-based compensation expense$— $— $— 
Summary of Restricted Stock Award Activity The following is a summary of restricted stock award activity in 2024:
 Shares of Restricted Common StockWeighted - Average Price on Date of Grant
 (In thousands, except per share amounts)
Outstanding at January 1, 20241,021 $113.47 
Granted827 142.77 
Vested (a)(580)104.66 
Forfeited(39)131.88 
Outstanding at December 31, 20241,229 $136.76 
(a)In 2024, restricted stock with a vesting date fair value of $83 million were vested (2023: $104 million; 2022: $86 million).
Summary of Performance Share Units Activity
The following is a summary of PSU activity in 2024:
 Performance Share UnitsWeighted - Average Fair Value on Date of Grant
 (In thousands, except per share amounts)
Outstanding at January 1, 2024512 $119.77 
Granted— — 
Vested (a)(205)86.70 
Forfeited(1)155.62 
Outstanding at December 31, 2024306 $141.81 
(a)In 2024, PSUs with a vesting date fair value of $20 million were vested (2023: $55 million; 2022: $37 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:
 202420232022
Risk free interest rate— 4.61 %1.59 %
Stock price volatility— 0.4780.584
Contractual term in years— 3.03.0
Grant date price of Hess common stock— $141.95 $101.17 
Summary of Stock Options Activity The following is a summary of stock options activity in 2024:
 Number of options
(In thousands)		Weighted Average Exercise Price per ShareWeighted Average Remaining Contractual Term
Outstanding at January 1, 20241,510 $78.85 6.1 years
Granted— — 
Exercised(273)75.48 
Forfeited(3)123.56 
Outstanding at December 31, 20241,234 $79.49 6.0 years
Assumptions to Estimate Fair Value of Stock Options
The following weighted average assumptions were utilized to estimate the fair value of stock options:
 202420232022
Risk free interest rate— 4.20 %1.66 %
Stock price volatility— 0.4690.457
Dividend yield— 1.24 %1.48 %
Expected life in years— 6.06.0
Weighted average fair value per option granted— $63.45 $39.51