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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2022
Income Tax Disclosure [Abstract] |
Schedule of Income (Loss) Before Income Taxes | Income (loss) before income taxes was composed of the following:
|  | For the Year Ended December 31,
|  | 2022 |  | 2021 |  | 2020
|  | (In millions)
U.S. |  | $ | 2,675 |  |  | $ | 629 |  |  | $ | (4,581) |
Foreign |  | 3,059 |  |  | 1,262 |  |  | (259) |
Total |  | $ | 5,734 |  |  | $ | 1,891 |  |  | $ | (4,840) |
Schedule of Total Provision for Income Taxes | The total income tax provision consisted of the following:
|  | For the Year Ended December 31,
|  | 2022 |  | 2021 |  | 2020
|  | (In millions)
Current income taxes: |  |  |  |  |  |
Federal |  | $ | 1 |  |  | $ | 16 |  |  | $ | (2) |
State |  | 11 |  |  | — |  |  | — |
Foreign |  | 1,495 |  |  | 636 |  |  | 178 |
|  | 1,507 |  |  | 652 |  |  | 176 |
Deferred income taxes: |  |  |  |  |  |
Federal |  | — |  |  | — |  |  | — |
Foreign |  | 145 |  |  | (74) |  |  | (112) |
|  | 145 |  |  | (74) |  |  | (112) |
Total |  | $ | 1,652 |  |  | $ | 578 |  |  | $ | 64 |
Schedule of Reconciliation of Tax of Income Before Income Taxes and Total Tax Expense | A reconciliation of the tax on the Company’s income (loss) before income taxes and total tax expense is shown below:
|  | For the Year Ended December 31,
|  | 2022 |  | 2021 |  | 2020
|  | (In millions)
Income tax expense (benefit) at U.S. statutory rate |  | $ | 1,204 |  |  | $ | 397 |  |  | $ | (1,016) |
State income tax, less federal effect(1) |  | 9 |  |  | — |  |  | — |
Taxes related to foreign operations |  | 745 |  |  | 298 |  |  | 97 |
Tax credits |  | (4) |  |  | (10) |  |  | (13) |
Net change in tax contingencies |  | 1 |  |  | 16 |  |  | 1 |
Goodwill impairment |  | — |  |  | — |  |  | 35 |
Valuation allowances(1) |  | (646) |  |  | (90) |  |  | 965 |
Tax adjustments attributable to BCP Business Combination |  | 126 |  |  | — |  |  | — |
Remeasurement of U.K. deferred tax liability |  | 208 |  |  | — |  |  | — |
Tax attributable to Altus Preferred Unit limited partners |  | — |  |  | (34) |  |  | (16) |
All other, net |  | 9 |  |  | 1 |  |  | 11 |
|  | $ | 1,652 |  |  | $ | 578 |  |  | $ | 64 |
(1)The change in state valuation allowance is included as a component of state income tax.
Schedule of Net Deferred Tax Liability | The net deferred income tax liability consisted of the following as of December 31:
|  | 2022 |  | 2021
|  | (In millions)
Deferred tax assets: |  |  |  |
U.S. and state net operating losses |  | $ | 2,029 |  |  | $ | 2,497 |
Capital losses |  | 357 |  |  | 647 |
Foreign net operating losses |  | 27 |  |  | 4 |
Tax credits and other tax incentives |  | 26 |  |  | 24 |
Foreign tax credits |  | 2,241 |  |  | 2,241 |
Accrued expenses and liabilities |  | 156 |  |  | 152 |
Asset retirement obligation |  | 672 |  |  | 712 |
Property and equipment |  | 44 |  |  | 12 |
Investment in Altus Midstream LP |  | — |  |  | 64 |
Net interest expense limitation |  | 74 |  |  | 146 |
Lease liability |  | 114 |  |  | 81 |
Decommissioning contingency for sold Gulf of Mexico properties |  | 275 |  |  | 263 |
Other |  | — |  |  | 1 |
Total deferred tax assets |  | 6,015 |  |  | 6,844 |
Valuation allowance |  | (4,918) |  |  | (5,902) |
Net deferred tax assets |  | 1,097 |  |  | 942 |
Deferred tax liabilities: |  |  |  |
Equity investments |  | 1 |  |  | 2 |
Property and equipment |  | 1,023 |  |  | 748 |
Right-of-use asset |  | 110 |  |  | 77 |
Decommissioning security for sold Gulf of Mexico properties |  | 148 |  |  | 164 |
Other |  | 90 |  |  | 86 |
Total deferred tax liabilities |  | 1,372 |  |  | 1,077 |
Net deferred income tax liability |  | $ | 275 |  |  | $ | 135 |
Net deferred tax assets and liabilities are included in the consolidated balance sheet as of December 31 as follows:
|  | 2022 |  | 2021
|  | (In millions)
Assets: |  |  |  |
Deferred charges and other |  | $ | 39 |  |  | $ | 13 |
Liabilities: |  |  |  |
Income taxes |  | 314 |  |  | 148 |
Net deferred income tax liability |  | $ | 275 |  |  | $ | 135 |
Schedule of Valuation Allowance Against Certain Foreign Net Deferred Tax Assets and State Net Operating Losses | In 2022, 2021, and 2020, the Company’s valuation allowance decreased by $1.0 billion, decreased by $89 million, and increased by $1.0 billion, respectively, as detailed in the table below:
|  | 2022 |  | 2021 |  | 2020
|  | (In millions)
Balance at beginning of year |  | $ | 5,902 |  |  | $ | 5,991 |  |  | $ | 4,959 |
State(1) |  | (111) |  |  | 1 |  |  | 67 |
U.S. |  | (706) |  |  | (97) |  |  | 960 |
Foreign |  | (167) |  |  | 7 |  |  | 5 |
Balance at end of year |  | $ | 4,918 |  |  | $ | 5,902 |  |  | $ | 5,991 |
(1)Reported as a component of state income taxes.
Schedule of Net Operating Losses | On December 31, 2022, the Company had net operating losses as follows:
|  | Amount |  | Expiration
|  | (In millions) |  |
U.S. |  | $ | 7,942 |  |  | 2027 - Indefinite
State |  | 6,505 |  |  | Various
Foreign |  | 75 |  |  | 2028 - Indefinite
Schedule of Foreign Tax Credit Carryforward | On December 31, 2022, the Company had foreign tax credits as follows:
|  | Amount |  | Expiration
|  | (In millions) |  |
Foreign tax credits |  | $ | 2,241 |  |  | 2025-2026
Schedule of Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
|  | 2022 |  | 2021 |  | 2020
|  | (In millions)
Balance at beginning of year |  | $ | 116 |  |  | $ | 93 |  |  | $ | 82 |
Additions based on tax positions related to prior year |  | — |  |  | 16 |  |  | — |
Additions based on tax positions related to the current year |  | — |  |  | 7 |  |  | 11 |
Reductions for tax positions of prior years |  | (27) |  |  | — |  |  | — |
Balance at end of year |  | $ | 89 |  |  | $ | 116 |  |  | $ | 93 |
Schedule of Key Jurisdictions of Company's Earliest Open Tax Years | Apache’s earliest open tax years in its key jurisdictions are as follows: Jurisdiction
U.S. | 2014
Egypt | 2005
U.K. | 2021

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