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Debt and Financing Costs (Tables)
 3 Months Ended
Mar. 31, 2017
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 March 31, 2017 and December 31, 2016:
 
 
 
March 31, 2017
 
December 31, 2016
 
 
Carrying
Amount
 
Fair
Value
 
Carrying
Amount
 
Fair
Value
 
 
(In millions)
Commercial paper and committed bank facilities
 
$
—

 
$
—

 
$
—

 
$
—

Notes and debentures
 
8,477

 
9,010

 
8,544

 
9,183

Total Debt
 
$
8,477

 
$
9,010

 
$
8,544

 
$
9,183
Schedule of Debt
The following table presents the carrying value of the Company’s debt as of March 31, 2017 and December 31, 2016:
 
 
March 31, 2017
 
December 31, 2016
 
 
(In millions)
Debt before unamortized discount and debt issuance costs
 
$
8,580

 
$
8,650

Unamortized discount
 
(49
)
 
(50
)
Debt issuance costs
 
(54
)
 
(56
)
Total debt
 
8,477

 
8,544

Current maturities
 
(150
)
 
—

Long-term debt
 
$
8,327

 
$
8,544
Components of Financing Costs, Net
The following table presents the components of Apache’s financing costs, net:
 
 
For the Quarter Ended March 31,
 
 
2017
 
2016
 
 
(In millions)
Interest expense
 
$
116

 
$
116

Amortization of deferred loan costs
 
2

 
1

Capitalized interest
 
(14
)
 
(11
)
Loss on extinguishment of debt
 
1

 
—

Interest income
 
(5
)
 
(1
)
Financing costs, net
 
$
100

 
$
105