v3.26.1
Acquisition of Hess Corporation (Tables)
 3 Months Ended
Mar. 31, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities and Fair Value of Long-Term Debt Assumed As a result of measuring the assets acquired and the liabilities assumed at fair value, there was no goodwill or bargain purchase recognized.
At July 18, 2025
(Billions of dollars)
Current assets$3.4 
Properties, plant and equipment
73.5 
Other assets2.6 
Total assets acquired79.5 
Current liabilities3.1 
Long-term debt(1)
10.0 
Deferred income taxes11.0 
Other liabilities2.4 
Total liabilities assumed26.5 
Noncontrolling interest(2)
5.0 
Net assets acquired / purchase price$48.0 
(1) Includes finance leases
(2) Related to Hess Midstream LP

The long-term debt assumed in the transaction is detailed in the table below:
Principal
Hess Corporation(Millions of dollars)
4.300% due 2027
$1,000 
7.875% due 2029
467 
7.300% due 2031
631 
7.125% due 2033
540 
6.000% due 2040
750 
5.600% due 2041
1,250 
5.800% due 2047
500 
  Total Hess Corporation Debt$5,138 
Hess Midstream Operations LP
5.125% due 2028
$550 
5.875% due 2028
800 
6.500% due 2029
600 
4.250% due 2030
750 
5.500% due 2030
400 
Term loan and credit facility borrowings646 
  Total Hess Midstream Operations LP Debt$3,746 
Unamortized discounts and debt issuance costs(61)
  Total Long-Term Debt Assumed$8,823 
Fair market value adjustment for debt acquired in the acquisition247 
  Fair Market Value of Long-Term Debt Assumed$9,070