Number of common stock acquired and retired

PART I - FINANCIAL INFORMATION (CONT’D.)HESS CORPORATION AND CONSOLIDATED SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)10. Weighted Average Common SharesThe Net income and weighted average number of common shares used in the basic and diluted earnings per share computations were as follows:

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Three Months EndedSeptember 30, |  | Nine Months EndedSeptember 30, |
|   | 2022 |  | 2021 |  | 2022 |  | 2021 |
|  |  |  |  |  |  |  |  |
|   | (In millions) |
| Net income attributable to Hess Corporation: |   |  |   |  |  |  |  |
| Net income | $ | 606  |  |  | $ | 185  |  |  | $ | 1,865  |  |  | $ | 534  |  |
| Less: Net income attributable to noncontrolling interests | 91  |  |  | 70  |  |  | 266  |  |  | 240  |  |
| Net income attributable to Hess Corporation | $ | 515  |  |  | $ | 115  |  |  | $ | 1,599  |  |  | $ | 294  |  |
| Weighted average number of common shares outstanding: |  |  |  |  |  |  |  |
| Basic | 307.6  |  |  | 308.1  |  |  | 308.7  |  |  | 307.1  |  |
| Effect of dilutive securities |  |  |  |  |  |  |  |
| Restricted common stock | 0.6  |  |  | 0.6  |  |  | 0.7  |  |  | 0.6  |  |
| Stock options | 0.5  |  |  | 0.3  |  |  | 0.6  |  |  | 0.5  |  |
| Performance share units | 0.2  |  |  | 0.9  |  |  | 0.1  |  |  | 0.9  |  |
| Diluted | 308.9  |  |  | 309.9  |  |  | 310.1  |  |  | 309.1  |  |

The following table summarizes the number of antidilutive shares excluded from the computation of diluted shares:

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Three Months EndedSeptember 30, |  | Nine Months EndedSeptember 30, |
|   | 2022 |  | 2021 |  | 2022 |  | 2021 |
| Restricted common stock | 623  |  |  | 47,215  |  |  | 240  |  |  | 78,889  |  |
| Stock options | 269,748  |  |  | 705,557  |  |  | 204,970  |  |  | 790,155  |  |
| Performance share units | —  |  |  | —  |  |  | 20,340  |  |  | 26,405  |  |

During the nine months ended September 30, 2022, we granted 586,287 shares of restricted stock (2021: 779,167), 178,008 performance share units (2021: 205,155) and 269,748 stock options (2021: 319,295).At December 31, 2021, the remaining amount under our $7.5 billion stock repurchase plan authorized by our Board of Directors (Board) was $650 million. During the nine months ended September 30, 2022, we repurchased approximately 3.1 million shares of our common stock for $340 million. No shares of common stock were repurchased during 2021. 11.  Guarantees and ContingenciesWe are subject to loss contingencies with respect to various claims, lawsuits and other proceedings. A liability is recognized in our consolidated financial statements when it is probable that a loss has been incurred and the amount can be reasonably estimated. If the risk of loss is probable, but the amount cannot be reasonably estimated or the risk of loss is only reasonably possible, a liability is not accrued; however, we disclose the nature of those contingencies. We cannot predict with certainty if, how or when existing claims, lawsuits and proceedings will be resolved or what the eventual relief, if any, may be, particularly for proceedings that are in their early stages of development or where plaintiffs seek indeterminate damages.We, along with many companies that have been or continue to be engaged in refining and marketing of gasoline, have been a party to lawsuits and claims related to the use of methyl tertiary butyl ether (MTBE) in gasoline. A series of similar lawsuits, many involving water utilities or governmental entities, were filed in jurisdictions across the United States against producers of MTBE and petroleum refiners who produced gasoline containing MTBE, including us. The principal allegation in all cases was that gasoline containing MTBE was a defective product and that these producers and refiners are strictly liable in proportion to their share of the gasoline market for damage to groundwater resources and are required to take remedial action to ameliorate the alleged effects on the environment of releases of MTBE. The majority of the cases asserted against us have been settled. There are two remaining active cases, filed by Pennsylvania and Maryland. In June 2014, the Commonwealth of Pennsylvania filed a lawsuit alleging that we and all major oil companies with operations in Pennsylvania, have damaged the groundwater by introducing thereto gasoline with MTBE. The Pennsylvania suit has been forwarded to the existing MTBE multidistrict litigation pending in the Southern District of New York. In December 2017, the State of Maryland filed a lawsuit alleging that we and other major oil companies damaged the groundwater in 12
