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CONSOLIDATED BALANCE SHEET (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
CURRENT ASSETS:    
Cash and cash equivalents ($132 related to Altus VIE) [1] $ 144 $ 279
Receivables, net of allowance of $111 and $109 [1] 1,625 1,390
Other current assets (Note 6) ($9 related to Altus VIE) [1] 695 649
Accounts receivable from APA Corporation [1] 96 77
Assets, Current [1] 2,560 2,395
PROPERTY AND EQUIPMENT:    
Oil and gas properties [1] 40,223 40,474
Gathering, processing, and transmission facilities ($209 related to Altus VIE) [1] 464 673
Other ($3 related to Altus VIE) [1] 1,123 1,126
Less: Accumulated depreciation, depletion, and amortization ($25 related to Altus VIE) [1] (34,058) (34,213)
Property and equipment, net [1] 7,752 8,060
OTHER ASSETS:    
Equity method interests (Note 7) ($1,365 related to Altus VIE) [1] 576 1,365
Decommissioning security for sold Gulf of Mexico properties (Note 12) [1] 640 640
Deferred charges and other ($6 related to Altus VIE) [1] 583 581
Note receivable from APA Corporation (Note 2) [1] 1,383 1,352
Total assets [1] 13,494 14,393
CURRENT LIABILITIES:    
Accounts payable ($12 related to Altus VIE) [1] 633 651
Note payable to APA Corporation [1] 174 195
Current debt [1] 125 215
Other current liabilities (Note 8) ($15 related to Altus VIE) [1] 1,222 1,170
Total current liabilities [1] 2,154 2,231
LONG-TERM DEBT (Note 10) ($657 related to Altus VIE) [1] 5,764 7,295
DEFERRED CREDITS AND OTHER NONCURRENT LIABILITIES:    
Income taxes [1] 105 148
Asset retirement obligation (Note 9) ($68 related to Altus VIE) [1] 2,043 2,089
Decommissioning contingency for sold Gulf of Mexico properties (Note 12) [1] 1,086 1,086
Other ($67 related to Altus VIE) [1] 510 572
Total deferred credits and other noncurrent liabilities [1] 3,744 3,895
REDEEMABLE NONCONTROLLING INTEREST - ALTUS PREFERRED UNIT LIMITED PARTNERS (Note 13) [1] 0 712
EQUITY (DEFICIT):    
#REF! [1] 0 0
Paid-in capital [1] 8,381 8,677
Accumulated deficit [1] (7,470) (9,317)
Accumulated other comprehensive income [1] 21 22
EQUITY (DEFICIT) ATTRIBUTABLE TO APA CORPORATION [1] 932 (618)
TOTAL EQUITY [1] 1,832 260
TOTAL LIABILITIES AND EQUITY [1] 13,494 14,393
Noncontrolling Interest, Sinopec    
EQUITY (DEFICIT):    
Noncontrolling interest [1] 870 820
Noncontrolling interest, APA Corporation    
EQUITY (DEFICIT):    
Noncontrolling interest [1] 30 0
Noncontrolling Interest, Altus    
EQUITY (DEFICIT):    
Noncontrolling interest [1] $ 0 $ 58
[1] The Altus VIE amounts are disclosed as of December 31, 2021. All Altus balances were deconsolidated as of February 22, 2022. Refer to Note 1—Summary of Significant Accounting Policies and Note 3—Acquisitions and Divestitures for further detail.