DEBT AND FINANCING COSTS (Tables)

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Schedule of debt

The following table presents the carrying value of the Company’s debt at December 31, 2018 and 2017:

	December 31,
	2018			2017
	(In millions)
Commercial paper	$	—		$	—
6.9% notes due 2018(1)	—			400
7.0% notes due 2018(2)	—			150
7.625% notes due 2019	150			150
3.625% notes due 2021(3)	393			493
3.25% notes due 2022(3)	687			814
2.625% notes due 2023(3)	403			528
7.7% notes due 2026	79			100
7.95% notes due 2026	133			180
4.375% notes due 2028(3)	1,000			—
7.75% notes due 2029(4)	300			300
6.0% notes due 2037(3)	800			1,000
5.1% notes due 2040(3)	1,499			1,499
5.25% notes due 2042(3)	500			500
4.75% notes due 2043(3)	1,413			1,413
4.25% notes due 2044(3)	753			753
7.375% debentures due 2047	150			150
7.625% debentures due 2096	39			150
Debt before unamortized discount and debt issuance costs	8,299			8,580
Unamortized discount	(44		)	(47		)
Debt issuance costs	(51		)	(49		)
Total debt	8,204			8,484
Current maturities	(150		)	(550		)
Long-term debt	$	8,054		$	7,934

(1) On September 15, 2018, Apache’s 6.9% notes due 2018 in original principal amount of $400 million matured and were repaid.

(2) On February 1, 2018, Apache’s 7.0% notes due 2018 in original principal amount of $150 million matured and were repaid.

(3) 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.

(4) Assumed in August 2017 as permitted by terms of these notes originally issued by a subsidiary and guaranteed by Apache. Since these notes historically have been included in Apache’s long-term debt, the assumption did not change Apache’s long-term debt or total debt.

Schedule of Long Term Debt by Maturity

Debt maturities as of December 31, 2018, excluding discounts and debt issuance costs, are as follows:

	(In millions)
2019	$	150
2020	—
2021	393
2022	687
2023	403
Thereafter	6,666
Total Debt, excluding discounts and debt issuance costs	$	8,299

Summary of Carrying Amounts and Estimated Fair Values

	December 31, 2018				December 31, 2017
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(In millions)
Commercial paper	$	—	$	—	$	—	$	—
Notes and debentures	8,204		7,805		8,484		9,244
Total Debt	$	8,204	$	7,805	$	8,484	$	9,244

Components of Financing Costs, Net

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

	For the Year Ended December 31,
	2018			2017			2016
	(In millions)
Interest expense	$	441		$	457		$	464
Amortization of debt issuance costs	9			9			8
Capitalized interest	(44		)	(51		)	(48		)
Loss on extinguishment of debt	94			1			1
Interest income	(22		)	(19		)	(8		)
Financing costs, net	$	478		$	397		$	417