Segment Information

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Segment Information

12.  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 June 30, 2024
Sales and other operating revenues	$	3,195	$	7	$	—	$	—	$	3,202
Intersegment revenues	—		358		—		(358)		—
Total sales and other operating revenues	$	3,195	$	365	$	—	$	(358)	$	3,202
Net income (loss) attributable to Hess Corporation	$	765	$	66	$	(74)	$	—	$	757
Depreciation, depletion and amortization	550		50		—		—		600
Provision for income taxes	280		16		—		—		296
Capital expenditures	1,120		73		—		—		1,193
For the Three Months Ended June 30, 2023
Sales and other operating revenues	$	2,287	$	2	$	—	$	—	$	2,289
Intersegment revenues	—		322		—		(322)		—
Total sales and other operating revenues	$	2,287	$	324	$	—	$	(322)	$	2,289
Net income (loss) attributable to Hess Corporation	$	155	$	62	$	(98)	$	—	$	119
Depreciation, depletion and amortization	450		47		—		—		497
Impairment and other	82		—		—		—		82
Provision for income taxes	152		8		—		—		160
Capital expenditures	904		52		—		—		956
For the Six Months Ended June 30, 2024
Sales and other operating revenues	$	6,498	$	13	$	—	$	—	$	6,511
Intersegment revenues	—		708		—		(708)		—
Total sales and other operating revenues	$	6,498	$	721	$	—	$	(708)	$	6,511
Net income (loss) attributable to Hess Corporation	$	1,762	$	133	$	(166)	$	—	$	1,729
Depreciation, depletion and amortization	1,057		100		—		—		1,157
Provision for income taxes	614		30		—		—		644
Capital expenditures	2,008		108		—		—		2,116
For the Six Months Ended June 30, 2023
Sales and other operating revenues	$	4,696	$	4	$	—	$	—	$	4,700
Intersegment revenues	—		625		—		(625)		—
Total sales and other operating revenues	$	4,696	$	629	$	—	$	(625)	$	4,700
Net income (loss) attributable to Hess Corporation	$	560	$	123	$	(218)	$	—	$	465
Depreciation, depletion and amortization	893		94		1		—		988
Impairment and other	82		—		—		—		82
Provision for income taxes	322		14		—		—		336
Capital expenditures	1,639		109		—		—		1,748

Corporate, Interest and Other had interest income of $18 million and $35 million for the three and six months ended June 30, 2024, respectively, compared to $21 million and $41 million for the three and six months ended June 30, 2023. Interest income is included in Other, net in the Statement of Consolidated Income.

Identifiable assets by operating segment were as follows:

	June 30, 2024		December 31, 2023
	(In millions)
Exploration and Production	$	19,203	$	17,931
Midstream	4,264		3,984
Corporate, Interest and Other	2,343		2,092
Total	$	25,810	$	24,007