Debt (Tables)

12 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

Debt for Apache and Subsidiaries

The following table presents the carrying value of the Company’s debt at December 31, 2016 and 2015:

	December 31,
	2016			2015
	(In millions)
Commercial paper	$	—		$	—
6.9% notes due 2018(1)	400			400
7.0% notes due 2018	150			150
7.625% notes due 2019	150			150
3.625% notes due 2021(1)	493			500
3.25% notes due 2022(1)	857			919
2.625% notes due 2023(1)	528			531
7.7% notes due 2026	100			100
7.95% notes due 2026	180			180
6.0% notes due 2037(1)	1,000			1,000
5.1% notes due 2040(1)	1,499			1,500
5.25% notes due 2042(1)	500			500
4.75% notes due 2043(1)	1,413			1,500
4.25% notes due 2044(1)	780			800
7.375% debentures due 2047	150			150
7.625% debentures due 2096	150			150
	8,350			8,530
Subsidiary and other obligations:
Notes due in 2017	—			1
Apache Finance Canada 7.75% notes due 2029	300			300
	300			301
Debt before unamortized discount and debt issuance costs	8,650			8,831
Unamortized discount	(50		)	(53		)
Debt issuance costs	(56		)	(61		)
Total debt	8,544			8,717
Current maturities	—			(1		)
Long-term debt	$	8,544		$	8,716

(1) These notes are redeemable, as a whole or in part, at Apache’s option, subject to a make-whole premium. The remaining notes and debentures are not redeemable.

Schedule of Long Term Debt by Maturity

Debt maturities as of December 31, 2016, excluding discounts and debt issuance costs, are as follows:

	(In millions)
2017	$	—
2018	550
2019	150
2020	—
2021	493
Thereafter(1)	7,457
Total Debt(1), excluding discounts and debt issuance costs	$	8,650

(1) In January 2017, Apache purchased and canceled $69 million aggregate principal amount of senior notes (see overview above), which reduces “Thereafter” and “Total Debt” maturities to $7.4 billion and $8.6 billion, respectively, as of January 31, 2017.

Summary of Carrying Amounts and Estimated Fair Values

	December 31, 2016				December 31, 2015
	Carrying     Amount		Fair     Value		Carrying     Amount		Fair     Value
	(In millions)
Commercial paper	$	—	$	—	$	—	$	—
Notes and debentures	8,544		9,183		8,717		8,330
Total Debt	$	8,544	$	9,183	$	8,717	$	8,330

Components of Financing Costs, Net

The following table presents the components of Apache’s financing costs, net:

	For the Year Ended December 31,
	2016			2015			2014
	(In millions)
Interest expense	$	464		$	486		$	499
Amortization of deferred loan costs	8			11			6
Capitalized interest	(48		)	(15		)	(85		)
Loss on extinguishment of debt	1			39			—
Interest income	(8		)	(10		)	(7		)
Financing costs, net	$	417		$	511		$	413