APA Corp
For the period ended Dec 31, 2023. Filed Feb 22, 2024.
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FY2023 · Filed Feb 22, 2024
APA$44.55-0.2%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Statement of Consolidated Cash Flows
| For the Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| (In millions) | |||
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net income including noncontrolling interests | $3,207 | $4,082 | $1,313 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Unrealized derivative instrument losses (gains), net | (51) | 67 | (69) |
| Gain on divestitures, net | (8) | (1,180) | (67) |
| Exploratory dry hole expense and unproved leasehold impairments | 114 | 207 | 97 |
| Depreciation, depletion, and amortization | 1,540 | 1,233 | 1,360 |
| Asset retirement obligation accretion | 116 | 117 | 113 |
| Impairments | 61 | — | 208 |
| Provision for (benefit from) deferred income taxes | (1,662) | 145 | (74) |
| (Gain) loss from extinguishment of debt | (9) | 67 | 104 |
| Losses on previously sold Gulf of Mexico properties | 212 | 157 | 446 |
| Other | 26 | (73) | 28 |
| Changes in operating assets and liabilities: | |||
| Receivables | (157) | (93) | (386) |
| Inventories | 13 | (1) | (9) |
| Drilling advances and other current assets | 269 | (15) | 71 |
| Deferred charges and other long-term assets | 270 | 69 | (42) |
| Accounts payable | (84) | (4) | 245 |
| Accrued expenses | (400) | 303 | 127 |
| Deferred credits and noncurrent liabilities | (328) | (138) | 31 |
| NET CASH PROVIDED BY OPERATING ACTIVITIES | 3,129 | 4,943 | 3,496 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Additions to upstream oil and gas property | (2,313) | (1,770) | (1,101) |
| Acquisition of Delaware Basin properties | (24) | (591) | — |
| Leasehold and property acquisitions | (20) | (37) | (9) |
| Proceeds from asset divestitures | 29 | 778 | 256 |
| Proceeds from sale of Kinetik shares | 228 | 224 | — |
| Deconsolidation of Altus cash and cash equivalents | — | (143) | — |
| Other, net | (38) | 28 | 21 |
| NET CASH USED IN INVESTING ACTIVITIES | (2,138) | (1,511) | (833) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Proceeds from (payments on) revolving credit facilities, net | (194) | 24 | 392 |
| Payments on Apache fixed-rate debt | (65) | (1,493) | (1,795) |
| Distributions to noncontrolling interest – Egypt | (238) | (362) | (279) |
| Dividends paid to APA common stockholders | (308) | (207) | (52) |
| Treasury stock activity, net | (329) | (1,423) | (847) |
| Other, net | (15) | (28) | (42) |
| NET CASH USED IN FINANCING ACTIVITIES | (1,149) | (3,489) | (2,623) |
| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (158) | (57) | 40 |
| CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR | 245 | 302 | 262 |
| CASH AND CASH EQUIVALENTS AT END OF PERIOD | $87 | $245 | $302 |
| SUPPLEMENTARY CASH FLOW DATA: | |||
| Interest paid, net of capitalized interest | $329 | $322 | $442 |
| Income taxes paid, net of refunds | 1,271 | 1,431 | 633 |
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