Balance Sheet: Liabilities and Stockholders’ Equity

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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Hess Corp., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Accounts payable	285)	220)	200)	411)	495)
Accrued operating and marketing expenditures	522)	462)	325)	479)	—)
Accrued capital expenditures	499)	479)	345)	616)	—)
Current portion of asset retirement obligations	207)	185)	105)	127)	—)
Accrued payments to royalty and working interest owners	201)	253)	170)	260)	—)
Accrued interest on debt	143)	138)	126)	126)	—)
Accrued compensation and benefits	132)	124)	117)	166)	—)
Other accruals	136)	69)	63)	29)	1,560)
Accrued liabilities	1,840)	1,710)	1,251)	1,803)	1,560)
Taxes payable	47)	528)	81)	97)	81)
Current portion of long-term debt	3)	517)	10)	—)	67)
Current portion of operating lease obligations	200)	70)	63)	182)	—)
Current portion of finance lease obligations	21)	19)	18)	17)	—)
Current liabilities	2,396)	3,064)	1,623)	2,510)	2,203)
Long-term debt, excluding current portion	8,278)	7,941)	8,286)	7,142)	6,605)
Long-term operating lease obligations	469)	394)	478)	353)	—)
Long-term finance lease obligations	179)	200)	220)	238)	—)
Deferred income taxes	418)	383)	342)	415)	421)
Asset retirement obligations	1,034)	1,005)	894)	897)	741)
Other liabilities and deferred credits	425)	502)	643)	521)	575)
Noncurrent liabilities	10,803)	10,425)	10,863)	9,566)	8,342)
Total liabilities	13,199)	13,489)	12,486)	12,076)	10,545)
Preferred stock, par value $1.00	—)	—)	—)	—)	1)
Common stock, par value $1.00	306)	310)	307)	305)	291)
Capital in excess of par value	6,206)	6,017)	5,684)	5,591)	5,386)
Retained earnings	1,474)	379)	130)	3,535)	4,257)
Accumulated other comprehensive loss	(131)	(406)	(755)	(699)	(306)
Total Hess Corporation stockholders’ equity	7,855)	6,300)	5,366)	8,732)	9,629)
Noncontrolling interests	641)	726)	969)	974)	1,259)
Total equity	8,496)	7,026)	6,335)	9,706)	10,888)
Total liabilities and equity	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).

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Balance sheet item	Description	The company
Current liabilities	Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.	Hess Corp. current liabilities increased from 2020 to 2021 but then slightly decreased from 2021 to 2022.
Noncurrent liabilities	Amount of obligation due after one year or beyond the normal operating cycle, if longer.	Hess Corp. noncurrent liabilities decreased from 2020 to 2021 but then increased from 2021 to 2022 not reaching 2020 level.
Total liabilities	Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.	Hess Corp. total liabilities increased from 2020 to 2021 but then slightly decreased from 2021 to 2022.
Total Hess Corporation stockholders’ equity	Total of all stockholders’ equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity stockholders’ equity attributable to the parent excludes the amount of stockholders’ equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.	Hess Corp. total Hess Corporation stockholders’ equity increased from 2020 to 2021 and from 2021 to 2022.

Hess Corp. (NYSE:HES)

Balance Sheet: Liabilities and Stockholders’ Equity