Analysis: Deferred Assets and Liabilities, Net

Entity Registrant Name HESS CORP
CIK 0000004447
Accession number 0001193125-14-077565
Link to XBRL instance http://www.sec.gov/Archives/edgar/data/4447/000119312514077565/hes-20131231.xml
Fiscal year end --12-31
Fiscal year focus 2013
Fiscal period focus FY
Current balance sheet date 2013-12-31
Current year-to-date income statement start date 2013-01-01
Commentary Conforms with all rules.
Level 3 Text Block concept us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock

The components of deferred tax liabilities and deferred tax assets at December 31 were as follows:

 

     2013     2012  
     (In millions)  

Deferred tax liabilities

     

Property, plant and equipment

    $ (5,581 )    $ (5,345 ) 

Other

      (155 )      (105 ) 
  

 

 

    

 

 

  

Total deferred tax liabilities

      (5,736 )      (5,450 ) 
  

 

 

    

 

 

  

Deferred tax assets

     

Net operating loss carryforwards

      2,726       1,985  

Tax credit carryforwards

      161       373  

Property, plant and equipment and investments

      2,643       2,796  

Accrued compensation, deferred credits and other liabilities

      982       976  

Asset retirement obligations

      1,516       1,340  

Other

      216       313  
  

 

 

    

 

 

  

Total deferred tax assets

      8,244       7,783  

Valuation allowances

      (1,519 )      (1,282 ) 
  

 

 

    

 

 

  

Total deferred tax assets, net of valuation allowances

      6,725       6,501  
  

 

 

    

 

 

  

Net deferred tax assets

    $ 989     $ 1,051  
  

 

 

    

 

 

  

 

Level 4 Details Key Concepts: Deferred tax assets (liabilities)

Description Fact value US GAAP XBRL Concept
Deferred tax assets, gross 8,244,000,000 us-gaap:DeferredTaxAssetsGross
Valuation allowance -1,519,000,000 us-gaap:DeferredTaxAssetsValuationAllowance
Deferred tax assets, net 6,725,000,000 us-gaap:DeferredTaxAssetsNet
Deferred tax liabilities -5,736,000,000 us-gaap:DeferredTaxLiabilities
Deferred tax assets (liabilities), net 989,000,000 us-gaap:DeferredTaxAssetsLiabilitiesNet
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(Classified balance sheet) Deferred tax assets (liabilities), net components current/noncurrent asset/liability

Description Fact value US GAAP XBRL Concept
Deferred tax assets, net, current 963,000,000 us-gaap:DeferredTaxAssetsNetCurrent
Deferred tax assets, net, noncurrent 2,319,000,000 us-gaap:DeferredTaxAssetsNetNoncurrent
Deferred tax liabilities, net, current -1,000,000 us-gaap:DeferredTaxLiabilitiesCurrent
Deferred tax liabilities, net, noncurrent -2,292,000,000 us-gaap:DeferredTaxLiabilities
Deferred tax assets (liabilities), net 989,000,000 us-gaap:DeferredTaxAssetsLiabilitiesNet
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(Unclassified balance sheet) Deferred tax assets (liabilities), net components asset/liability

Description Fact value US GAAP XBRL Concept
Deferred tax assets 6,725,000,000 us-gaap:DeferredTaxAssetsNetCurrent
Deferred tax liabilities, net -5,736,000,000 us-gaap:DeferredTaxLiabilities
Deferred tax assets (liabilities), net 989,000,000 us-gaap:DeferredTaxAssetsLiabilitiesNet
CHECK 0

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