APA Corp
For the period ended Mar 31, 2024. Filed May 2, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 2, 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 OPERATIONS
| For the Quarter EndedMarch 31, | ||
|---|---|---|
| 2024 | 2023 | |
| (In millions, except share data) | ||
| REVENUES AND OTHER: | ||
| Oil, natural gas, and natural gas liquids production revenues(1) | $1,748 | $1,769 |
| Purchased oil and gas sales(1) | 203 | 239 |
| Total revenues | 1,951 | 2,008 |
| Derivative instrument gains (losses), net | (4) | 53 |
| Gain on divestitures, net | 7 | 1 |
| Loss on previously sold Gulf of Mexico properties | (66) | — |
| Other, net | 15 | (32) |
| 1,903 | 2,030 | |
| OPERATING EXPENSES: | ||
| Lease operating expenses(1) | 338 | 321 |
| Gathering, processing, and transmission(1) | 84 | 78 |
| Purchased oil and gas costs(1) | 163 | 216 |
| Taxes other than income | 57 | 52 |
| Exploration | 148 | 52 |
| General and administrative | 93 | 65 |
| Transaction, reorganization, and separation | 27 | 4 |
| Depreciation, depletion, and amortization | 430 | 332 |
| Asset retirement obligation accretion | 40 | 28 |
| Financing costs, net | 76 | 72 |
| 1,456 | 1,220 | |
| NET INCOME BEFORE INCOME TAXES | 447 | 810 |
| Current income tax provision | 300 | 346 |
| Deferred income tax provision (benefit) | (65) | 138 |
| NET INCOME INCLUDING NONCONTROLLING INTERESTS | 212 | 326 |
| Net income attributable to noncontrolling interest | 80 | 84 |
| NET INCOME ATTRIBUTABLE TO COMMON STOCK | $132 | $242 |
| NET INCOME PER COMMON SHARE: | ||
| Basic | $0.44 | $0.78 |
| Diluted | $0.44 | $0.78 |
| WEIGHTED-AVERAGE NUMBER OF COMMON SHARES OUTSTANDING: | ||
| Basic | 302 | 311 |
| Diluted | 302 | 312 |
(1)For transactions with Kinetik prior to the Company’s sale of its remaining shares of Kinetik Class A Common Stock and the resignation of the Company’s designated director from the Kinetik board of directors, refer to Note 6—Equity Method Interests.
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