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Capital Stock
 9 Months Ended
Sep. 30, 2016
Equity [Abstract]  
Capital Stock
CAPITAL STOCK
Net Loss per Common Share
A reconciliation of the components of basic and diluted net loss per common share for the quarters and nine months ended September 30, 2016 and 2015 is presented in the table below.
 
 
 
For the Quarter Ended September 30,
 
 
2016
 
2015
 
 
Loss
 
Shares
 
Per Share
 
Loss
 
Shares
 
Per Share
 
 
(In millions, except per share amounts)
Basic:
 
 
 
 
 
 
 
 
 
 
 
 
Loss from continuing operations
 
$
(574
)
 
380

 
$
(1.51
)
 
$
(4,126
)
 
378

 
$
(10.91
)
Loss from discontinued operations
 
(33
)
 
380

 
(0.09
)
 
(17
)
 
378

 
(0.04
)
Loss attributable to common stock
 
$
(607
)
 
380

 
$
(1.60
)
 
$
(4,143
)
 
378

 
$
(10.95
)
Effect of Dilutive Securities:
 
 
 
 
 
 
 
 
 
 
 
 
Stock options and other
 
$
—

 
—

 
$
—

 
$
—

 
—

 
$
—

Diluted:
 
 
 
 
 
 
 
 
 
 
 
 
Loss from continuing operations
 
$
(574
)
 
380

 
$
(1.51
)
 
$
(4,126
)
 
378

 
$
(10.91
)
Loss from discontinued operations
 
(33
)
 
380

 
(0.09
)
 
(17
)
 
378

 
(0.04
)
Loss attributable to common stock
 
$
(607
)
 
380

 
$
(1.60
)
 
$
(4,143
)
 
378

 
$
(10.95
)
 
 
For the Nine Months Ended September 30,
 
 
2016
 
2015
 
 
Loss
 
Shares
 
Per Share
 
Loss
 
Shares
 
Per Share
 
 
(In millions, except per share amounts)
Basic:
 
 
 
 
 
 
 
 
 
 
 
 
Loss from continuing operations
 
$
(1,190
)
 
379

 
$
(3.14
)
 
$
(6,202
)
 
378

 
$
(16.42
)
Loss from discontinued operations
 
(33
)
 
379

 
(0.08
)
 
(135
)
 
378

 
(0.36
)
Loss attributable to common stock
 
$
(1,223
)
 
379

 
$
(3.22
)
 
$
(6,337
)
 
378

 
$
(16.78
)
Effect of Dilutive Securities:
 
 
 
 
 
 
 
 
 
 
 
 
Stock options and other
 
—

 
—

 
 
 
—

 
—

 
 
Diluted:
 
 
 
 
 
 
 
 
 
 
 
 
Loss from continuing operations
 
$
(1,190
)
 
379

 
$
(3.14
)
 
$
(6,202
)
 
378

 
$
(16.42
)
Loss from discontinued operations
 
(33
)
 
379

 
(0.08
)
 
(135
)
 
378

 
(0.36
)
Loss attributable to common stock
 
$
(1,223
)
 
379

 
$
(3.22
)
 
$
(6,337
)
 
378

 
$
(16.78
)


The diluted earnings per share calculation excludes options and restricted stock units that were anti-dilutive totaling 4.7 million and 10.4 million for the quarters ended September 30, 2016 and 2015, respectively, and 6.5 million and 8.9 million for the nine months ended September 30, 2016 and 2015, respectively.
Common Stock Dividends
For each of the quarters ended September 30, 2016, and 2015, Apache paid $95 million in dividends on its common stock. For the nine months ended September 30, 2016 and 2015, the Company paid $284 million and $283 million, respectively.
Stock Repurchase Program
Apache’s Board of Directors has authorized the purchase of up to 40 million shares of the Company’s common stock. Shares may be purchased either in the open market or through privately negotiated transactions. The Company initiated the buyback program on June 10, 2013, and through December 31, 2015, had repurchased a total of 32.2 million shares at an average price of $88.96 per share. The Company is not obligated to acquire any specific number of shares and has not purchased any shares during 2016.