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STATEMENT OF CONSOLIDATED CASH FLOWS (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net income including noncontrolling interests $ 620,000,000 $ 462,000,000 $ 832,000,000 $ 788,000,000
Adjustments to reconcile net income to net cash provided by operating activities:        
Unrealized derivative instrument (gains) losses, net (3,000,000) (47,000,000) 5,000,000 (80,000,000)
Gain on divestitures, net     (283,000,000) (6,000,000)
Exploratory dry hole expense and unproved leasehold impairments     174,000,000 64,000,000
Depreciation, depletion, and amortization 588,000,000 367,000,000 1,018,000,000 699,000,000
Asset retirement obligation accretion 36,000,000 29,000,000 76,000,000 57,000,000
Impairments 0 46,000,000 0 46,000,000
Provision for (benefit from) deferred income taxes 23,000,000 (16,000,000) (42,000,000) 122,000,000
Gain on extinguishment of debt 0 0 0 (9,000,000)
Loss on previously sold Gulf of Mexico properties 17,000,000 0 83,000,000 0
Other, net     31,000,000 (67,000,000)
Changes in operating assets and liabilities:        
Receivables     (101,000,000) 100,000,000
Inventories     (2,000,000) (45,000,000)
Drilling advances and other current assets     6,000,000 2,000,000
Deferred charges and other long-term assets     80,000,000 160,000,000
Accounts payable     (125,000,000) (112,000,000)
Accrued expenses     (312,000,000) (163,000,000)
Deferred credits and noncurrent liabilities     (195,000,000) (221,000,000)
NET CASH PROVIDED BY OPERATING ACTIVITIES     1,245,000,000 1,335,000,000 Close
CASH FLOWS FROM INVESTING ACTIVITIES:        
Additions to upstream oil and gas property     (1,223,000,000) (1,119,000,000)
Leasehold and property acquisitions     (63,000,000) (10,000,000)
Proceeds from asset divestitures     729,000,000 28,000,000
Proceeds from sale of Kinetik Shares     428,000,000 0
Other, net     (23,000,000) (14,000,000)
NET CASH USED IN INVESTING ACTIVITIES     (152,000,000) (1,115,000,000) Close
CASH FLOWS FROM FINANCING ACTIVITIES:        
Proceeds from commercial paper and revolving credit facilities, net     63,000,000 196,000,000
Proceeds from term loan facility     1,500,000,000 0
Payment on Callon Credit Agreement     (472,000,000) 0
Payments on fixed-rate debt     (1,641,000,000) (65,000,000)
Distributions to noncontrolling interest     (123,000,000) (100,000,000)
Treasury stock activity, net     (144,000,000) (188,000,000)
Dividends paid to APA common stockholders (92,000,000) (77,000,000) (168,000,000) (155,000,000)
Other, net     (35,000,000) (11,000,000)
NET CASH USED IN FINANCING ACTIVITIES     (1,020,000,000) (323,000,000) Close
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS     73,000,000 (103,000,000) Close
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR     87,000,000 245,000,000
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 160,000,000 $ 142,000,000 160,000,000 142,000,000
SUPPLEMENTARY CASH FLOW DATA:        
Interest paid, net of capitalized interest     178,000,000 168,000,000
Income taxes paid, net of refunds     $ 566,000,000 $ 476,000,000