Supplemental Guarantor Information

6 Months Ended

Jun. 30, 2015

Guarantees [Abstract]

Supplemental Guarantor Information

10. SUPPLEMENTAL GUARANTOR INFORMATION

In December 1999, Apache Finance Canada issued approximately $300 million of publicly-traded notes due in 2029. The notes are fully and unconditionally guaranteed by Apache. The following condensed consolidating financial statements are provided as an alternative to filing separate financial statements.

Apache Finance Canada is 100 percent owned by Apache Corporation. As such, these condensed consolidating financial statements should be read in conjunction with Apache’s consolidated financial statements and the notes thereto, of which this note is an integral part.

APACHE CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

For the Quarter Ended June 30, 2015

							All Other
				Apache			Subsidiaries
	Apache			Finance			of Apache			Reclassifications
	Corporation			Canada			Corporation			& Eliminations		Consolidated
	(In millions)
REVENUES AND OTHER:
Oil and gas production revenues	$	434		$	—		$	1,518		$	—	$	1,952
Equity in net income of affiliates		(1,987	)		(393	)		(1	)		2,381		—
Other		(10	)		12			4			19		25
		(1,563	)		(381	)		1,521			2,400		1,977
OPERATING EXPENSES:
Depreciation, depletion, and amortization		4,346			—			2,476			—		6,822
Asset retirement obligation accretion		3			—			33			—		36
Lease operating expenses		108			—			359			—		467
Gathering and transportation		7			—			42			—		49
Taxes other than income		33			—			22			—		55
General and administrative		74			—			18			19		111
Transaction, reorganization, and separation costs		66			—			—			—		66
Financing costs, net		71			11			(19	)		—		63
		4,708			11			2,931			19		7,669
NET INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		(6,271	)		(392	)		(1,410	)		2,381		(5,692	)
Provision (benefit) for income taxes		(843	)		2			(19	)		—		(860	)
NET INCOME (LOSS) FROM CONTINUING OPERATIONS INCLUDING NONCONTROLLING INTEREST		(5,428	)		(394	)		(1,391	)		2,381		(4,832	)
Net income (loss) from discontinued operations, net of tax		(172	)		—			(560	)		—		(732	)
NET INCOME (LOSS) INCLUDING NONCONTROLLING INTEREST		(5,600	)		(394	)		(1,951	)		2,381		(5,564	)
Net income attributable to noncontrolling interest		—			—			36			—		36
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK	$	(5,600	)	$	(394	)	$	(1,987	)	$	2,381	$	(5,600	)
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK	$	(5,600	)	$	(394	)	$	(1,987	)	$	2,381	$	(5,600	)

APACHE CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

For the Quarter Ended June 30, 2014

							All Other
				Apache			Subsidiaries
	Apache			Finance			of Apache			Reclassifications
	Corporation			Canada			Corporation			& Eliminations			Consolidated
	(In millions)
REVENUES AND OTHER:
Oil and gas production revenues	$	895		$	—		$	2,576		$	—		$	3,471
Equity in net income (loss) of affiliates		491			24			11			(526	)		—
Derivative instrument gains (losses), net		(125	)		—			(49	)		—			(174	)
Other		(69	)		13			44			4			(8	)
		1,192			37			2,582			(522	)		3,289
OPERATING EXPENSES:
Depreciation, depletion, and amortization		356			—			1,002			—			1,358
Asset retirement obligation accretion		8			—			30			—			38
Lease operating expenses		121			—			439			—			560
Gathering and transportation		14			—			52			—			66
Taxes other than income		47			—			130			—			177
General and administrative		96			—			13			4			113
Transaction, reorganization, and separation costs		14			—			—			—			14
Financing costs, net		41			10			1			—			52
		697			10			1,667			4			2,378
NET INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		495			27			915			(526	)		911
Provision (benefit) for income taxes		(10	)		(8	)		372			—			354
NET INCOME (LOSS) FROM CONTINUING OPERATIONS INCLUDING NONCONTROLLING INTEREST		505			35			543			(526	)		557
Net income from discontinued operations, net of tax		—			—			56			—			56
NET INCOME (LOSS) INCLUDING NONCONTROLLING INTEREST		505			35			599			(526	)		613
Net income attributable to noncontrolling interest		—			—			108			—			108
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK	$	505		$	35		$	491		$	(526	)	$	505
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK	$	505		$	35		$	491		$	(526	)	$	505

APACHE CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

For the Six Months Ended June 30, 2015

							All Other
				Apache			Subsidiaries
	Apache			Finance			of Apache			Reclassifications
	Corporation			Canada			Corporation			& Eliminations		Consolidated
	(In millions)
REVENUES AND OTHER:
Oil and gas production revenues	$	799		$	—		$	2,791		$	—	$	3,590
Equity in net income (loss) of affiliates		(3,072	)		(1,047	)		—			4,119		—
Other		(50	)		26			22			19		17
		(2,323	)		(1,021	)		2,813			4,138		3,607
OPERATING EXPENSES:
Depreciation, depletion, and amortization		9,845			—			5,279			—		15,124
Asset retirement obligation accretion		7			—			65			—		72
Lease operating expenses		232			—			716			—		948
Gathering and transportation		16			—			89			—		105
Taxes other than income		67			—			61			—		128
General and administrative		138			—			36			19		193
Transaction, reorganization, and separation costs		120			—			—			—		120
Financing costs, net		123			21			(11	)		—		133
		10,548			21			6,235			19		16,823
NET INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		(12,871	)		(1,042	)		(3,422	)		4,119		(13,216	)
Provision (benefit) for income taxes		(2,792	)		5			(1,093	)		—		(3,880	)
NET INCOME (LOSS) FROM CONTINUING OPERATIONS INCLUDING NONCONTROLLING INTEREST		(10,079	)		(1,047	)		(2,329	)		4,119		(9,336	)
Net loss from discontinued operations, net of tax		(172	)		—			(692	)		—		(864	)
NET INCOME (LOSS) INCLUDING NONCONTROLLING INTEREST		(10,251	)		(1,047	)		(3,021	)		4,119		(10,200	)
Net income attributable to noncontrolling interest		—			—			51			—		51
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK	$	(10,251	)	$	(1,047	)	$	(3,072	)	$	4,119	$	(10,251	)
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK	$	(10,251	)	$	(1,047	)	$	(3,072	)	$	4,119	$	(10,251	)

APACHE CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

For the Six Months Ended June 30, 2014

						All Other
				Apache		Subsidiaries
	Apache			Finance		of Apache			Reclassifications
	Corporation			Canada		Corporation			& Eliminations			Consolidated
	(In millions)
REVENUES AND OTHER:
Oil and gas production revenues	$	1,787		$	—	$	5,075		$	—		$	6,862
Equity in net income (loss) of affiliates		744			53		4			(801	)		—
Derivative instrument gains (losses), net		(145	)		—		(49	)		—			(194	)
Other		(73	)		27		52			3			9
		2,313			80		5,082			(798	)		6,677
OPERATING EXPENSES:
Depreciation, depletion, and amortization		684			—		1,774			—			2,458
Asset retirement obligation accretion		15			—		61			—			76
Lease operating expenses		249			—		859			—			1,108
Gathering and transportation		28			—		108			—			136
Taxes other than income		126			—		232			—			358
General and administrative		189			—		29			3			221
Transaction, reorganization, and separation costs		30			—		2			—			32
Financing costs, net		73			20		4			—			97
		1,394			20		3,069			3			4,486
NET INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		919			60		2,013			(801	)		2,191
Provision for income taxes		52			2		830			—			884
NET INCOME (LOSS) FROM CONTINUING OPERATIONS INCLUDING NONCONTROLLING INTEREST		867			58		1,183			(801	)		1,307
Net loss from discontinued operations, net of tax		(127	)		—		(233	)		—			(360	)
NET INCOME (LOSS) INCLUDING NONCONTROLLING INTEREST		740			58		950			(801	)		947
Net income attributable to noncontrolling interest		—			—		206			—			206
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK	$	740		$	58	$	744		$	(801	)	$	741
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK (1)	$	739		$	58	$	744		$	(801	)	$	740

⁽¹⁾  Comprehensive income (loss) activity is recorded on the Apache Corporation entity and consists of derivative instrument reclassifications and changes in fair value as reflected on our Statement of Consolidated Comprehensive Income.

APACHE CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Six Months Ended June 30, 2015

							All Other
				Apache			Subsidiaries
	Apache			Finance			of Apache			Reclassifications
	Corporation			Canada			Corporation			& Eliminations			Consolidated
	(In millions)
CASH PROVIDED BY (USED IN) CONTINUING OPERATING ACTIVITIES	$	192		$	(21	)	$	1,566		$	—		$	1,737
CASH PROVIDED BY DISCONTINUED OPERATIONS		—			—			196			—			196
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES		192			(21	)		1,762			—			1,933
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to oil and gas property		(1,222	)		—			(1,765	)		—			(2,987	)
Leasehold and property acquisitions		(124	)		—			(4	)		—			(128	)
Additions to gas gathering, transmission, and processing facilities		(24	)		—			(70	)		—			(94	)
Proceeds from sale of Kitimat LNG		—			—			854			—			854
Proceeds from sale of other oil and gas properties		4			—			115			—			119
Investment in subsidiaries, net		82			—			—			(82	)		—
Other		(16	)		—			(51	)		—			(67	)
NET CASH USED IN CONTINUING INVESTING ACTIVITIES		(1,300	)		—			(921	)		(82	)		(2,303	)
NET CASH PROVIDED BY DISCONTINUED OPERATIONS		—			—			4,335			—			4,335
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES		(1,300	)		—			3,414			(82	)		2,032
CASH FLOWS FROM FINANCING ACTIVITIES:
Commercial paper and bank credit facilities, net		(1,570	)		—			—			—			(1,570	)
Intercompany borrowings		4,551			(10	)		(4,623	)		82			—
Distributions to noncontrolling interest		—			—			(40	)		—			(40	)
Dividends paid		(189	)		—			—			—			(189	)
Treasury stock activity, net		—			—			—			—			—
Other		2			31			(18	)		—			15
NET CASH PROVIDED BY (USED IN) CONTINUING FINANCING ACTIVITIES		2,794			21			(4,681	)		82			(1,784	)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES		2,794			21			(4,681	)		82			(1,784	)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		1,686			—			495			—			2,181
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR		267			—			502			—			769
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$	1,953		$	—		$	997		$	—		$	2,950

APACHE CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Six Months Ended June 30, 2014

							All Other
				Apache			Subsidiaries
	Apache			Finance			of Apache			Reclassifications
	Corporation			Canada			Corporation			& Eliminations			Consolidated
	(In millions)
CASH PROVIDED BY (USED IN) CONTINUING OPERATING ACTIVITIES	$	70		$	(33	)	$	3,912		$	—		$	3,949
CASH PROVIDED BY DISCONTINUED OPERATIONS		—			—			683			—			683
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES		70			(33	)		4,595			—			4,632
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to oil and gas property		(1,625	)		—			(2,744	)		—			(4,369	)
Leasehold and property acquisitions		(83	)		—			(29	)		—			(112	)
Additions to gas gathering, transmission, and processing facilities		(2	)		—			(343	)		—			(345	)
Proceeds from sale of Deepwater Gulf of Mexico assets		1,367			—			—			—			1,367
Restricted cash related to divestitures		(1,367	)		—			—			—			(1,367	)
Proceeds from sale of other oil and gas properties		69			—			312			—			381
Investment in subsidiaries, net		2,899			—			—			(2,899	)		—
Other		(35	)		—			2			—			(33	)
NET CASH PROVIDED BY (USED IN) CONTINUING INVESTING ACTIVITIES		1,223			—			(2,802	)		(2,899	)		(4,478	)
NET CASH USED IN DISCONTINUED OPERATIONS		—			—			(13	)		—			(13	)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES		1,223			—			(2,815	)		(2,899	)		(4,491	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Commercial paper and bank credit facilities, net		—			—			(1	)		—			(1	)
Intercompany borrowings		—			11			(2,909	)		2,898			—
Distributions to noncontrolling interest		—			—			(66	)		—			(66	)
Dividends paid		(176	)		—			—			—			(176	)
Treasury stock activity, net		(1,263	)		—			—			—			(1,263	)
Other		—			19			5			1			25
NET CASH PROVIDED BY (USED IN) CONTINUING FINANCING ACTIVITIES		(1,439	)		30			(2,971	)		2,899			(1,481	)
NET CASH USED IN DISCONTINUED OPERATIONS		—			—			(42	)		—			(42	)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES		(1,439	)		30			(3,013	)		2,899			(1,523	)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(146	)		(3	)		(1,233	)		—			(1,382	)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR		155			3			1,748			—			1,906
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$	9		$	—		$	515		$	—		$	524

APACHE CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEET

June 30, 2015

					All Other
			Apache		Subsidiaries
	Apache		Finance		of Apache			Reclassifications
	Corporation		Canada		Corporation			& Eliminations			Consolidated
	(In millions)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	1,953	$	—	$	997		$	—		$	2,950
Receivables, net of allowance		470		—		1,119			—			1,589
Inventories		38		—		591			—			629
Drilling advances		17		1		175			—			193
Deferred tax asset		72		—		12			—			84
Prepaid assets and other		22		—		26			—			48
Intercompany receivable		5,420		—		—			(5,420	)		—
		7,992		1		2,920			(5,420	)		5,493
PROPERTY AND EQUIPMENT, NET		5,096		—		23,219			—			28,315
OTHER ASSETS:
Intercompany receivable		—		—		691			(691	)		—
Equity in affiliates		21,663		149		452			(22,264	)		—
Deferred charges and other		176		1,000		1,328			(1,000	)		1,504
	$	34,927	$	1,150	$	28,610		$	(29,375	)	$	35,312
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable	$	449	$	—	$	261		$	—		$	710
Other current liabilities		838		1		834			—			1,673
Intercompany payable		—		—		5,420			(5,420	)		—
		1,287		1		6,515			(5,420	)		2,383
LONG-TERM DEBT		9,378		298		0			—			9,676
DEFERRED CREDITS AND OTHER NONCURRENT LIABILITIES:
Intercompany payable		691		—		—			(691	)		—
Income taxes		502		—		2,142			—			2,644
Asset retirement obligation		220		—		2,314			—			2,534
Other		7,305		250		(6,235	)		(1,000	)		320
		8,718		250		(1,779	)		(1,691	)		5,498
COMMITMENTS AND CONTINGENCIES APACHE SHAREHOLDERS’ EQUITY		15,544		601		21,663			(22,264	)		15,544
Noncontrolling interest		—		—		2,211			—			2,211
TOTAL EQUITY		15,544		601		23,874			(22,264	)		17,755
	$	34,927	$	1,150	$	28,610		$	(29,375	)	$	35,312

APACHE CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2014

					All Other
			Apache		Subsidiaries
	Apache		Finance		of Apache			Reclassifications
	Corporation		Canada		Corporation			& Eliminations			Consolidated
	(In millions)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	267	$	—	$	502		$	—		$	769
Receivables, net of allowance		837		—		1,187			—			2,024
Inventories		24		—		684			—			708
Drilling advances		34		1		353			—			388
Assets held for sale		—		—		1,628			—			1,628
Deferred tax asset		612		—		157			—			769
Prepaid assets and other		32		—		97			—			129
Intercompany receivable		4,939		—		—			(4,939	)		—
		6,745		1		4,608			(4,939	)		6,415
PROPERTY AND EQUIPMENT, NET		13,940		—		34,136			—			48,076
OTHER ASSETS:
Intercompany receivable		—		—		608			(608	)		—
Equity in affiliates		25,791		869		444			(27,104	)		—
Goodwill		—		—		87			—			87
Deferred charges and other		175		1,002		1,197			(1,000	)		1,374
	$	46,651	$	1,872	$	41,080		$	(33,651	)	$	55,952
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable	$	748	$	10	$	452		$	—		$	1,210
Asset retirement obligation		28		—		9			—			37
Other current liabilities		1,014		1		1,402			—			2,417
Intercompany payable		—		—		4,939			(4,939	)		—
		1,790		11		6,802			(4,939	)		3,664
LONG-TERM DEBT		10,947		298		—			—			11,245
DEFERRED CREDITS AND OTHER NONCURRENT LIABILITIES:
Intercompany payable		608		—		—			(608	)		—
Income taxes		5,076		—		4,423			—			9,499
Asset retirement obligation		211		—		2,837			—			3,048
Other		2,082		250		(973	)		(1,000	)		359
		7,977		250		6,287			(1,608	)		12,906
COMMITMENTS AND CONTINGENCIES APACHE SHAREHOLDERS’ EQUITY		25,937		1,313		25,791			(27,104	)		25,937
Noncontrolling interest		—		—		2,200			—			2,200
TOTAL EQUITY		25,937		1,313		27,991			(27,104	)		28,137
	$	46,651	$	1,872	$	41,080		$	(33,651	)	$	55,952