SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
August 8, 2001
AMERADA HESS CORPORATION
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(Exact name of Registrant as Specified in Charter)
DELAWARE No. 1-1204 No. 13-4921002
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(State or other jurisdiction of (Commission File (IRS Employer
incorporation) Number) Identification No.)
1185 Avenue Of the Americas 10036
New York, New York
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (212) 997-8500
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N/A
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(Former Name or Former Address, if Changed Since Last Report)
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
The following exhibit is filed as part of this Report:
12.1 Computation of Ratio of Earnings to Fixed Charges.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: August 8, 2001
AMERADA HESS CORPORATION
By: /s/ John Y. Schreyer
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Name: John Y. Schreyer
Title: Executive Vice President
and Chief Financial Officer
EXHIBIT INDEX
Exhibit No. Description
12.1 Computation of Ratio of Earnings to Fixed Charges
Exhibit 12.1
AMERADA HESS CORPORATION
Ratio of Earnings to Fixed Charges
(in thousands)
Six Months Years Ended December 31,
Ended June ----------------------------------------------------
30, 2001 2000 1999 1998 1997 1996
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Earnings
Consolidated income before income taxes $1,113,516 $1,671,684 $701,809 $(514,111) $126,585 $1,013,944
Fixed charges (excluding capitalized interest) 103,711 203,950 195,713 192,838 182,632 209,517
Amortization of capitalized interest 8,755 18,310 19,362 19,189 22,821 27,099
Minority interest in consolidated subsidiary with
fixed charges 45,268 42,479 34,917 5,117 5,141 --
Less: Earnings of equity investees (54,840) (128,315) (9,074) 29,844 (31,525) (25,084)
Distributed earnings of equity investees -- 9,715 16,176 3,586 2,086 2,086
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Total earnings (deficit) $1,216,410 $1,817,823 $958,903 $(263,537) $307,740 $1,227,562
========== ========== ======== ========= ======== ==========
Fixed Charges
Interest expensed 81,105 162,467 158,222 152,934 136,149 165,501
Interest capitalized -- 2,989 15,754 23,559 10,284 --
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Total interest incurred (including
amortization of debt discount) 81,105 165,456 173,976 176,493 146,433 165,501
Portion of rent expense representative of
interest (a) 22,606 41,483 37,491 39,904 46,483 44,016
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Total fixed charges $ 103,711 $ 206,939 $211,467 $ 216,397 $192,916 $ 209,517
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Ratio of earnings to fixed charges 11.7 8.8 4.5 (b) 1.6 5.9
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(a) Represents management's estimate of the interest portion of rent expense.
(b) In 1998, fixed charges of $216,397 combined with a deficit of $263,537
result in a deficiency of $479,934 in the ratio of earnings to fixed
charges. The 1998 loss included special items of $284,679, including
$237,000 for impairment of assets and operating leases, $25,679 for
losses on asset sales and $22,000 for severance.