APA Corp
For the period ended Dec 31, 2024. Filed Feb 28, 2025.
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FY2024 · Filed Feb 28, 2025
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, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| (In millions) | |||
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net income including noncontrolling interests | $1,118 | $3,207 | $4,082 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Unrealized derivative instrument (gains) losses, net | 8 | (51) | 67 |
| Gain on divestitures, net | (289) | (8) | (1,180) |
| Exploratory dry hole expense and unproved leasehold impairments | 236 | 114 | 207 |
| Depreciation, depletion, and amortization | 2,266 | 1,540 | 1,233 |
| Asset retirement obligation accretion | 148 | 116 | 117 |
| Impairments | 1,129 | 61 | — |
| Provision for (benefit from) deferred income taxes | (736) | (1,662) | 145 |
| (Gain) loss from extinguishment of debt | — | (9) | 67 |
| Losses on previously sold Gulf of America properties | 273 | 212 | 157 |
| Other | 2 | 26 | (73) |
| Changes in operating assets and liabilities: | |||
| Receivables | (104) | (157) | (93) |
| Inventories | (11) | 13 | (1) |
| Drilling advances and other current assets | (56) | 269 | (15) |
| Deferred charges and other long-term assets | 11 | 270 | 69 |
| Accounts payable | 81 | (84) | (4) |
| Accrued expenses | (221) | (400) | 303 |
| Deferred credits and noncurrent liabilities | (235) | (328) | (138) |
| NET CASH PROVIDED BY OPERATING ACTIVITIES | 3,620 | 3,129 | 4,943 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Additions to oil and gas property | (2,851) | (2,313) | (1,770) |
| Acquisition of Delaware Basin properties | — | (24) | (591) |
| Leasehold and property acquisitions | (60) | (20) | (37) |
| Proceeds from asset divestitures | 1,609 | 29 | 778 |
| Proceeds from sale of Kinetik shares | 428 | 228 | 224 |
| Deconsolidation of Altus cash and cash equivalents | — | — | (143) |
| Other, net | (50) | (38) | 28 |
| NET CASH USED IN INVESTING ACTIVITIES | (924) | (2,138) | (1,511) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Proceeds from (payments on) commercial paper and revolving credit facilities, net | (40) | (194) | 24 |
| Proceeds from term loan facility | 1,500 | — | — |
| Payments on term loan facility | (600) | — | — |
| Payment on Callon Credit Agreement | (472) | — | — |
| Payments on fixed-rate debt | (1,641) | (65) | (1,493) |
| Distributions to noncontrolling interest | (268) | (238) | (362) |
| Dividends paid to APA common stockholders | (353) | (308) | (207) |
| Treasury stock activity, net | (246) | (329) | (1,423) |
| Other, net | (38) | (15) | (28) |
| NET CASH USED IN FINANCING ACTIVITIES | (2,158) | (1,149) | (3,489) |
| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 538 | (158) | (57) |
| CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR | 87 | 245 | 302 |
| CASH AND CASH EQUIVALENTS AT END OF PERIOD | $625 | $87 | $245 |
| SUPPLEMENTARY CASH FLOW DATA: | |||
| Interest paid, net of capitalized interest | $372 | 329 | $322 |
| Income taxes paid, net of refunds | 1,097 | 1,271 | 1,431 |
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