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Debt and Financing Costs (Tables)
 6 Months Ended
Jun. 30, 2016
Debt Disclosure [Abstract]  
Summary of Carrying Amounts and Estimated Fair Values
The following table presents the carrying amounts and estimated fair values of the Company’s outstanding debt as of June 30, 2016 and December 31, 2015:
 
 
 
June 30, 2016
 
December 31, 2015
 
 
Carrying
Amount
 
Fair
Value
 
Carrying
Amount
 
Fair
Value
 
 
(In millions)
Commercial paper and committed bank facilities
 
$
—

 
$
—

 
$
—

 
$
—

Notes and debentures
 
8,720

 
9,393

 
8,717

 
8,330

Total Debt
 
$
8,720

 
$
9,393

 
$
8,717

 
$
8,330
Components of Financing Costs, Net
The following table presents the components of Apache’s financing costs, net:
 
 
For the Quarter Ended June 30,
 
For the Six Months Ended June 30,
 
 
2016
 
2015
 
2016
 
2015
 
 
(In millions)
Interest expense
 
$
116

 
$
123

 
$
232

 
$
251

Amortization of deferred loan costs
 
2

 
2

 
3

 
4

Capitalized interest
 
(12
)
 
(5
)
 
(23
)
 
(9
)
Interest income
 
(2
)
 
(3
)
 
(3
)
 
(5
)
Financing costs, net
 
$
104

 
$
117

 
$
209

 
$
241