XML 103 R38.htm IDEA: XBRL DOCUMENT
v3.22.4

DEBT AND FINANCING COSTS (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Debt Disclosure [Abstract] |
Schedule of Debt | The following table presents the carrying value of the Company’s debt as of December 31, 2022 and 2021:
|  | December 31,
|  | 2022 |  | 2021
|  | (In millions)
3.25% notes due 2022(1) |  | $ | — |  |  | $ | 213 |
2.625% notes due 2023(2) |  | — |  |  | 123 |
4.625% notes due 2025(3) |  | 51 |  |  | 500 |
7.7% notes due 2026 |  | 78 |  |  | 79 |
7.95% notes due 2026 |  | 132 |  |  | 133 |
4.875% due 2027(3) |  | 108 |  |  | 378 |
4.375% notes due 2028(3) |  | 325 |  |  | 703 |
7.75% notes due 2029(3)(4) |  | 235 |  |  | 235 |
4.25% notes due 2030(3) |  | 579 |  |  | 580 |
6.0% notes due 2037(3) |  | 443 |  |  | 443 |
5.1% notes due 2040(3) |  | 1,333 |  |  | 1,333 |
5.25% notes due 2042(3) |  | 399 |  |  | 399 |
4.75% notes due 2043(3) |  | 428 |  |  | 428 |
4.25% notes due 2044(3) |  | 221 |  |  | 221 |
7.375% debentures due 2047 |  | 150 |  |  | 150 |
5.35% notes due 2049(3) |  | 387 |  |  | 387 |
7.625% debentures due 2096 |  | 39 |  |  | 39 |
Apache notes and debentures before unamortized discount and debt issuance costs(5) |  | 4,908 |  |  | 6,344 |
Altus credit facility(6) |  | — |  |  | 657 |
Syndicated credit facilities(6) |  | 566 |  |  | 542 |
Apache finance lease obligations |  | 34 |  |  | 36 |
Unamortized discount |  | (27) |  |  | (30) |
Debt issuance costs |  | (28) |  |  | (39) |
Total debt |  | 5,453 |  |  | 7,510 |
Current maturities |  | (2) |  |  | (215) |
Long-term debt |  | $ | 5,451 |  |  | $ | 7,295 |
(1)On January 18, 2022, Apache redeemed the 3.25% senior notes due April 15, 2022, at a redemption price equal to 100 percent of their principal amount, plus accrued and unpaid interest to the redemption date. (2)On October 17, 2022, Apache redeemed the 2.625% notes due January 15, 2023, at a redemption price equal to 100 percent of their principal amount, plus accrued and unpaid interest to the redemption date. (3)These notes are redeemable, as a whole or in part, at Apache’s option, subject to a make-whole premium, except that the 7.75% notes due 2029 are only redeemable as whole for principal and accrued interest in the event of certain Canadian tax law changes. The remaining notes and debentures are not redeemable. (4)Assumed by Apache in August 2017 as permitted by terms of these notes originally issued by a subsidiary and guaranteed by Apache. (5)The fair values of Apache’s notes and debentures were $4.2 billion and $7.1 billion as of December 31, 2022 and 2021, respectively. The Company uses a market approach to determine the fair value of its notes and debentures using estimates provided by an independent investment financial data services firm (a Level 2 fair value measurement). (6)The carrying amount of borrowings on credit facilities approximates fair value because the interest rates are variable and reflective of market rates.
Schedule of Long Term Debt by Maturity | Maturities for the Company’s notes and debentures excluding discount and debt issuance costs as of December 31, 2022 are as follows:
| (In millions)
2023 | $ | — |
2024 | — |
2025 | 51 |
2026 | 210 |
2027 | 108 |
Thereafter | 4,539 |
Notes and debentures, excluding discounts and debt issuance costs | $ | 4,908 |
Schedule of Components of Financing Costs, Net | The following table presents the components of the Company’s financing costs, net:
|  | For the Year Ended December 31,
|  | 2022 |  | 2021 |  | 2020
|  | (In millions)
Interest expense |  | $ | 332 |  |  | $ | 419 |  |  | $ | 438 |
Amortization of debt issuance costs |  | 8 |  |  | 8 |  |  | 8 |
Capitalized interest |  | (18) |  |  | (9) |  |  | (12) |
Loss (gain) on extinguishment of debt |  | 67 |  |  | 104 |  |  | (160) |
Interest income |  | (10) |  |  | (8) |  |  | (7) |
Financing costs, net |  | $ | 379 |  |  | $ | 514 |  |  | $ | 267 |

X
- Definition Schedule Of Financing Costs Net + References No definition available. + Details
Name: | apa_ScheduleOfFinancingCostsNetTableTextBlock
Namespace Prefix: | apa_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of long term debt by maturity. + References No definition available. + Details
Name: | apa_ScheduleOfLongTermDebtByMaturityTableTableTextBlock
Namespace Prefix: | apa_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI https://asc.fasb.org/extlink&oid=124435984&loc=d3e28541-108399 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21506-112644 Reference 5: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69B -URI https://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69E -URI https://asc.fasb.org/extlink&oid=123466577&loc=SL123495743-112612 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21521-112644 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21538-112644 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI https://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21475-112644 + Details
Name: | us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration