STATEMENT OF CONSOLIDATED RETAINED EARNINGS Amerada Hess Corporation and Consolidated Subsidiaries For the Years Ended December 31 Millions of dollars, except per share data 2003 2002 2001 BALANCE AT BEGINNING OF YEAR $3,482 $3,807 $3,069 Net income (loss) 643 (218) 914 Dividends declared—common stock  ($1.20 per share in 2003, 2002 and 2001) (109) (107) (107) Dividends on preferred stock ($.34 per share in 2003) (5) GLYPH<209> GLYPH<209> Common stock acquired and retired GLYPH<209> GLYPH<209> (69) BALANCE AT END OF YEAR $4,011 $3,482 $3,807 See accompanying notes to consolidated GLYPH<222>nancial statements. 37