Capital Stock

6 Months Ended

Jun. 30, 2012

Capital Stock [Abstract]

CAPITAL STOCK

9. CAPITAL STOCK

Net Income per Common Share

A reconciliation of the components of basic and diluted net income per common share for the quarters and six-month periods ended June 30, 2012 and 2011 is presented in the table below.

	For the Quarter Ended June 30,
	2012						2011
	Income		Shares		Per Share		Income		Shares		Per Share
	(In millions, except per share amounts)
Basic:
Income attributable to common stock	$	337		389	$	0.87	$	1,240		384	$	3.23
Effect of Dilutive Securities:
Mandatory Convertible Preferred Stock		—		—				19		12
Stock options and other		—		1				—		1
Diluted:
Income attributable to common stock, including assumed conversions	$	337		390	$	0.86	$	1,259		397	$	3.17

	For the Six Months Ended June 30,
	2012						2011
	Income		Shares		Per Share		Income		Shares		Per Share
	(In millions, except per share amounts)
Basic:
Income attributable to common stock	$	1,115		387	$	2.88	$	2,355		383	$	6.14
Effect of Dilutive Securities:
Mandatory Convertible Preferred Stock		38		14				38		12
Stock options and other		—		2				—		2
Diluted:
Income attributable to common stock, including assumed conversions	$	1,153		403	$	2.86	$	2,393		397	$	6.03

The diluted earnings per share calculation excludes options and restricted stock units that were anti-dilutive totaling 4.4 million and 1.5 million for the quarters ending June 30, 2012 and 2011, and 3.7 million and 1.1 million for the six months ended June 30, 2012 and 2011, respectively. For the quarter ended June 30, 2012, 14.4 million shares related to the assumed conversion of the Mandatory Convertible Preferred Stock were also anti-dilutive.

Issuance of Common and Preferred Shares

On April 30, 2012, in conjunction with Apache’s acquisition of Cordillera, the Company issued 6,272,667 shares of common stock to the sellers.

Common and Preferred Stock Dividends

For the quarter and six months ended June 30, 2012, Apache paid $65 million and $123 million, respectively, in dividends on its common stock. For the quarter and six months ended June 30, 2011, Apache paid $58 million and $115 million, respectively.

For the quarter and six months ended June 30, 2012, Apache paid a total of $19 million and $38 million, respectively, in dividends on its Series D Preferred Stock. For the quarter and six months ended June 30, 2011, Apache paid a total of $19 million and $38 million, respectively.