$APA

APA Corp

CIK:0001841666|SEC Filings

STATEMENT OF CONSOLIDATED COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Statement of Comprehensive Income [Abstract]
NET INCOME INCLUDING NONCONTROLLING INTERESTS	$ 827	$ 665	$ 1,370	$ 1,083
OTHER COMPREHENSIVE LOSS, NET OF TAX:
Pension and postretirement benefit plan	(1)	(1)	(1)	(1)
COMPREHENSIVE INCOME INCLUDING NONCONTROLLING INTERESTS	826	664	1,369	1,082
Comprehensive income attributable to noncontrolling interest	80	62	177	133
COMPREHENSIVE INCOME ATTRIBUTABLE TO COMMON STOCK	$ 746	$ 602	$ 1,192	$ 949

STATEMENT OF CONSOLIDATED CASH FLOWS (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income including noncontrolling interests	$ 1,370	$ 1,083
Adjustments to reconcile net income to net cash provided by operating activities:
Unrealized derivative instrument gains, net	(70)	(108)
(Gain) loss on divestitures, net	2	(280)
Exploratory dry hole expense and unproved leasehold impairments	56	43
Depreciation, depletion, and amortization	1,057	1,173
Asset retirement obligation accretion	85	78
Provision for deferred income taxes	201	170
(Gain) loss on extinguishment of debt	4	(145)
Other, net	(6)	18
Changes in operating assets and liabilities:
Receivables	(147)	433
Inventories	(26)	5
Drilling advances and other current assets	(33)	222
Deferred charges and other long-term assets	(3)	1
Accounts payable	(123)	(153)
Accrued expenses	(50)	(204)
Deferred credits and noncurrent liabilities	(57)	(59)
NET CASH PROVIDED BY OPERATING ACTIVITIES	2,260	2,277
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to upstream oil and gas property	(1,111)	(1,437)
Leasehold and property acquisitions	(6)	(20)
Proceeds from asset divestitures	0	571
Other, net	(16)	5
NET CASH USED IN INVESTING ACTIVITIES	(1,133)	(881)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments on commercial paper and revolving credit facilities, net	0	(333)
Payments on term loan facility	0	(900)
Fixed-rate debt borrowings	0	846
Payments on fixed-rate debt	(754)	(954)
Distributions to noncontrolling interest	(164)	(217)
Treasury stock activity, net	(100)	(150)
Dividends paid to APA common stockholders	(177)	(181)
Other, net	(4)	(25)
NET CASH USED IN FINANCING ACTIVITIES	(1,199)	(1,914)
NET DECREASE IN CASH AND CASH EQUIVALENTS	(72)	(518)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	516	625
CASH AND CASH EQUIVALENTS AT END OF PERIOD	444	107
SUPPLEMENTARY CASH FLOW DATA:
Interest paid, net of capitalized interest	117	155
Income taxes paid, net of refunds	$ 477	$ 542

CONSOLIDATED BALANCE SHEET (Unaudited) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
CURRENT ASSETS:
Cash and cash equivalents	$ 444	$ 516
Receivables, net of allowance of $125 and $140	1,222	1,062
Other current assets (Note 5)	611	543
Total current assets	2,277	2,121
PROPERTY AND EQUIPMENT:
Oil and gas properties	46,724	45,507
Gathering, processing, and transmission facilities	445	445
Other	535	536
Less: Accumulated depreciation, depletion, and amortization	(34,805)	(33,740)
Property and equipment, net	12,899	12,748
OTHER ASSETS:
Deferred tax asset (Note 9)	2,126	2,328
Deferred charges and other	671	564
ASSETS	17,973	17,761
CURRENT LIABILITIES:
Accounts payable	730	871
Current debt	2	213
Other current liabilities (Note 6)	1,675	1,487
Liabilities, Current, Total	2,407	2,571
LONG-TERM DEBT (Note 8)	3,741	4,280
DEFERRED CREDITS AND OTHER NONCURRENT LIABILITIES:
Asset retirement obligation (Note 7)	2,723	2,699
Decommissioning contingency for sold Gulf of America properties (Note 10)	677	782
Other	481	426
Total deferred credits and other noncurrent liabilities	3,881	3,907
EQUITY:
Common stock, $0.625 par, 860,000,000 shares authorized, 492,577,134 and 492,038,127 shares issued, respectively	308	308
Paid-in capital	12,741	12,816
Retained earnings (accumulated deficit)	384	(721)
Treasury stock, at cost, 141,910,293 and 139,073,481 shares, respectively	(6,421)	(6,320)
Accumulated other comprehensive income	9	10
APA SHAREHOLDERS’ EQUITY	7,021	6,093
TOTAL EQUITY	7,944	7,003
LIABILITIES, NONCONTROLLING INTERESTS, AND EQUITY	17,973	17,761
Noncontrolling Interest
EQUITY:
Noncontrolling interest	$ 923	$ 910