Stock Analysis on Net
Stock Analysis on Net

Hess Corp. (NYSE:HES)

$22.49

This company has been moved to the archive! The financial data has not been updated since November 2, 2023.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

Paying user area

Try for free

Hess Corp. pages available for free this week:

The data is hidden behind: . Unhide it.

Get access

This is a one-time payment. There is no automatic renewal.

We accept:

Visa Mastercard American Express Maestro Discover JCB PayPal Google Pay
Visa Secure Mastercard Identity Check American Express SafeKey

Hess Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Accounts payable
Accrued liabilities
Taxes payable
Current portion of long-term debt
Current portion of operating and finance lease obligations
Current liabilities
Long-term debt, excluding current portion
Long-term operating lease obligations
Long-term finance lease obligations
Deferred income taxes
Asset retirement obligations
Other liabilities and deferred credits
Noncurrent liabilities
Total liabilities
Preferred stock, par value $1.00
Common stock, par value $1.00
Capital in excess of par value
Retained earnings
Accumulated other comprehensive income (loss)
Total Hess Corporation stockholders’ equity
Noncontrolling interests
Total equity
Total liabilities and equity

Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

The analysis of the quarterly financial data reveals several notable trends and shifts in the composition of liabilities and equity over the examined periods.

Current Liabilities
Current liabilities as a percentage of total liabilities and equity demonstrated a fluctuating pattern, peaking around late 2019 and early 2021 with values exceeding 14%, suggesting periods of increased short-term obligations. After this peak, a general decline is observed moving towards early 2023, with percentages settling near 11-13%, indicating some normalization of short-term liabilities.
Long-Term Debt
Long-term debt, excluding the current portion, shows a marked increase from 2018 through 2020, reaching above 44% at its peak. This indicates a significant accumulation of long-term borrowings during this time frame. Subsequently, a downward trend emerges from late 2020 into 2023, where the percentage declines to around 35.5%, implying repayments or restructuring reducing long-term debt exposure.
Lease Obligations
Current portions of operating and finance lease obligations appeared from 2018 onward, showing a gradual decrease in relative percentage from around 1.85% to below 1% by late 2021, but then experienced a modest increase by 2023. Long-term operating lease obligations exhibit stability with minor fluctuations around the 2% range, while long-term finance lease obligations show a gradual decline from a little over 1% to approximately 0.7%, reflecting possible lease contractions or changes in lease accounting practices.
Other Noncurrent Liabilities
Deferred income taxes maintain relatively steady values with slight increases notably in 2021 and 2022, rising up to nearly 2.8%, which may reflect changes in tax positions or deferred tax assets/liabilities. Asset retirement obligations show a steady increase from about 3.5% in early periods to around 4.8% in the most recent quarters, indicating rising liabilities related to asset retirement costs. Other liabilities and deferred credits display variability, peaking in early 2021 before declining to below 2% by 2023.
Total Liabilities
Total liabilities as a percentage of total liabilities and equity increased consistently from 45.9% in early 2018 to a high of 66.3% in late 2020, reflecting increased leverage. Afterward, a steady decline is observed, coming down to about 59.9% by 2023, signaling a gradual reduction in overall leverage or growth in equity.
Equity Composition
Common stock's percentage remains relatively stable throughout, fluctuating slightly around 1.3% to 1.6%, indicating no major changes in shares outstanding or stock structure. Capital in excess of par value increased from approximately 25.8% to around 30.5% between 2018 and 2021, followed by slight decreases and stabilization near the high 20% range till 2023.
Retained Earnings and Comprehensive Income
Retained earnings experienced a notable decline between late 2019 and early 2021, dropping from over 16% to under 1%, which may reflect significant net losses or dividend distributions during this period. Following this low, retained earnings recovered steadily, reaching nearly 9% by late 2023, suggesting improvement in profitability or retention of earnings. Accumulated other comprehensive income (loss) fluctuated significantly, moving from negative values to slight positive territory around early 2020 before returning negative and gradually improving by 2023, implying volatility in unrealized gains or losses on certain financial instruments or foreign currency adjustments.
Total Stockholders’ Equity and Total Equity
Total stockholders’ equity showed a declining trend from over 48% in early 2018 down to about 28.5% by late 2020, indicating decreasing equity relative to total capital. However, a recovery trend is notable afterward, with equity increasing to around 37.2% by late 2023. Noncontrolling interests declined from above 6% in 2018 to below 3% near 2023, showing a reduction in minority ownership stakes. Total equity follows this pattern, falling to below 34% in 2020 and recovering to above 40% by 2023, underscoring a resurgence in net equity capital.
Overall Capital Structure
The overall capital structure reveals that liabilities as a proportion of total capital escalated up to late 2020, followed by a partial deleveraging phase. Equity suffered declines during the same early period but later rebounded, reflecting potentially shifting market conditions, asset valuations, and company financial strategies focused on stabilization and balance sheet strengthening.