Segment Information

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Segment Information

10.  Segment Information

We currently have two operating segments, Exploration and Production and Midstream.  All unallocated costs are reflected under Corporate, Interest and Other.  The following table presents operating segment financial data:

	Exploration and Production		Midstream		Corporate, Interest and Other		Eliminations		Total
	(In millions)
For the Three Months Ended March 31, 2024
Sales and other operating revenues	$	3,303	$	6	$	—	$	—	$	3,309
Intersegment revenues	—		350		—		(350)		—
Total sales and other operating revenues	$	3,303	$	356	$	—	$	(350)	$	3,309
Net income (loss) attributable to Hess Corporation	$	997	$	67	$	(92)	$	—	$	972
Depreciation, depletion and amortization	507		50		—		—		557
Provision for income taxes	334		14		—		—		348
Capital expenditures	888		35		—		—		923
For the Three Months Ended March 31, 2023
Sales and other operating revenues	$	2,409	$	2	$	—	$	—	$	2,411
Intersegment revenues	—		303		—		(303)		—
Total sales and other operating revenues	$	2,409	$	305	$	—	$	(303)	$	2,411
Net income (loss) attributable to Hess Corporation	$	405	$	61	$	(120)	$	—	$	346
Depreciation, depletion and amortization	443		47		1		—		491
Provision for income taxes	170		6		—		—		176
Capital expenditures	735		57		—		—		792

Corporate, Interest and Other had interest income of $17 million for the three months ended March 31, 2024 (2023: $20 million) which is included in Other, net in the Statement of Consolidated Income.

Identifiable assets by operating segment were as follows:

	March 31, 2024		December 31, 2023
	(In millions)
Exploration and Production	$	18,826	$	17,931
Midstream	4,055		3,984
Corporate, Interest and Other	1,838		2,092
Total	$	24,719	$	24,007