Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Hess Corp., consolidated balance sheet: assets

US$ in millions

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Cash and cash equivalents	2,486)	2,713)	1,739)	1,545)	2,694)
From contracts with customers	1,041)	1,062)	710)	940)	771)
Joint venture and other	121)	149)	150)	230)	230)
Accounts receivable	1,162)	1,211)	860)	1,170)	1,001)
Inventories	217)	223)	378)	261)	245)
Other current assets	66)	199)	104)	180)	519)
Current assets	3,931)	4,346)	3,081)	3,156)	4,459)
Property, plant and equipment, net	15,098)	14,182)	14,115)	16,814)	16,083)
Finance lease right-of-use assets, net	126)	144)	168)	299)	—)
Property, plant and equipment, net, including finance lease right-of-use assets	15,224)	14,326)	14,283)	17,113)	16,083)
Operating lease right-of-use assets, net	570)	352)	426)	447)	—)
Goodwill	360)	360)	360)	360)	360)
Deferred income taxes	133)	71)	59)	80)	21)
Post-retirement benefit assets	648)	409)	45)	—)	—)
Other assets	829)	651)	567)	626)	510)
Noncurrent assets	17,764)	16,169)	15,740)	18,626)	16,974)
Total assets	21,695)	20,515)	18,821)	21,782)	21,433)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

Assets: Selected Items

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Balance sheet item	Description	The company
Current assets	Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.	Hess Corp. current assets increased from 2020 to 2021 but then slightly decreased from 2021 to 2022.
Property, plant and equipment, net, including finance lease right-of-use assets	Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Hess Corp. property, plant and equipment, net, including finance lease right-of-use assets increased from 2020 to 2021 and from 2021 to 2022.
Noncurrent assets	Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer.	Hess Corp. noncurrent assets increased from 2020 to 2021 and from 2021 to 2022.
Total assets	Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.	Hess Corp. total assets increased from 2020 to 2021 and from 2021 to 2022.

Current Assets: Selected Items

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Balance sheet item	Description	The company
Cash and cash equivalents	Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.	Hess Corp. cash and cash equivalents increased from 2020 to 2021 but then slightly decreased from 2021 to 2022.
Accounts receivable	Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.	Hess Corp. accounts receivable increased from 2020 to 2021 but then slightly decreased from 2021 to 2022.
Inventories	Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.	Hess Corp. inventories decreased from 2020 to 2021 and from 2021 to 2022.

Hess Corp. (NYSE:HES)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items