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STATEMENT OF CONSOLIDATED CASH FLOWS (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income including noncontrolling interests $ 305 $ 1,981
Adjustments to reconcile net income to net cash provided by operating activities:    
Unrealized derivative instrument losses, net 0 57
Gain on divestitures, net (1) (1,176)
Exploratory dry hole expense and unproved leasehold impairments 32 9
Depreciation, depletion, and amortization 308 291
Asset retirement obligation accretion 28 29
Provision for (benefit from) deferred income taxes 119 (41)
(Gain) loss on extinguishment of debt (9) 67
Other, net 14 (43)
Changes in operating assets and liabilities:    
Receivables (59) (254)
Inventories (31) (43)
Drilling advances and other current assets (35) 9
Deferred charges and other long-term assets 78 (13)
Accounts payable (83) (5)
Accounts receivable from/payable to APA Corporation 16 (33)
Accrued expenses (316) 18
Deferred credits and noncurrent liabilities (78) 3
NET CASH PROVIDED BY OPERATING ACTIVITIES 288 856
CASH FLOWS FROM INVESTING ACTIVITIES:    
Additions to upstream oil and gas property (484) (334)
Leasehold and property acquisitions (5) (20)
Notes receivable from APA Corporation 104 0
Proceeds from sale of oil and gas properties 21 767
Proceeds from sale of Kinetik shares 0 224
Deconsolidation of Altus cash and cash equivalents 0 (143)
Other, net (4) (4)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES (368) 490
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from Apache credit facility, net 105 338
Payments on note payable to APA Corporation, net 0 (21)
Payments on fixed-rate debt (65) (1,370)
Distributions to noncontrolling interest – Sinopec (17) (69)
Distributions to APA Corporation (17) (346)
Other, net 6 (13)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 12 (1,481)
NET DECREASE IN CASH AND CASH EQUIVALENTS (68) (135)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 185 279
CASH AND CASH EQUIVALENTS AT END OF PERIOD 117 144
SUPPLEMENTARY CASH FLOW DATA:    
Interest paid, net of capitalized interest 105 128
Income taxes paid, net of refunds $ 286 $ 305