APA Corp (APA) financial statements: income statement, balance sheet and cash flow

APA Corp's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), APA Corp reported revenue of $9.2B (-5.3% year on year) and net income of $2.8B (+81.8% year on year).

Income statement

APA Corp income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Total revenues	$8.9B	$35.0M	$121.0M	$11.1B
Derivative instrument gains (losses), net	($53.0M)	($10.0M)	$99.0M	($114.0M)
Gain on divestitures, net	$301.0M	$289.0M	$8.0M	$1.2B
Gains (losses) on previously sold Gulf of America properties	$60.0M	—	—	—
Other, net	($8.0M)	($6.0M)	$18.0M	$148.0M
Total revenues and other	$9.2B	$9.7B	$8.2B	$12.1B
Lease operating expenses	$1.5B	$1.7B	$1.4B	$1.4B
Taxes other than income	$229.0M	$270.0M	$207.0M	$268.0M
Exploration	$131.0M	$313.0M	$195.0M	$305.0M
General and administrative	$350.0M	$372.0M	$351.0M	$483.0M
Transaction, reorganization, and separation	$102.0M	$168.0M	$15.0M	$26.0M
Depreciation, depletion, and amortization	$2.3B	$2.3B	$1.5B	$1.2B
Asset retirement obligation accretion	$158.0M	$148.0M	$116.0M	$117.0M
Impairments	$44.0M	$1.1B	$61.0M	$0
Financing costs, net	$113.0M	$367.0M	$312.0M	$379.0M
Total operating expenses	$6.4B	$8.2B	$5.3B	$6.4B
NET INCOME BEFORE INCOME TAXES	$2.8B	$1.5B	$2.9B	—
Current income tax provision	$739.0M	$1.2B	$1.3B	$1.5B
Deferred income tax provision (benefit)	$360.0M	($736.0M)	($1.7B)	$145.0M
NET INCOME INCLUDING NONCONTROLLING INTERESTS	$1.7B	$1.1B	$3.2B	$4.1B
Net income attributable to noncontrolling interest	$258.0M	$314.0M	$352.0M	$478.0M
NET INCOME ATTRIBUTABLE TO COMMON STOCK	$1.4B	$804.0M	$2.9B	—
Basic (in USD per share)	$3.99	$2.28	$9.26	$11.05
Diluted (in USD per share)	$3.99	$2.27	$9.25	$11.02
Basic (in shares)	359.0M	353.0M	308.0M	332.0M
Diluted (in shares)	359.0M	353.0M	309.0M	333.0M

APA Corp income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Total revenues	$2.4B	$2.3B	$2.1B	$2.2B
Derivative instrument gains (losses), net	$8.0M	($113.0M)	($97.0M)	$138.0M
Gain (loss) on divestitures, net	($2.0M)	$0	$5.0M	$282.0M
Other, net	$20.0M	$1.0M	($5.0M)	$14.0M
Total revenues and other	$2.4B	$2.2B	$2.0B	$2.6B
Lease operating expenses	$353.0M	$362.0M	$376.0M	$367.0M
Taxes other than income	$61.0M	$57.0M	$51.0M	$54.0M
Exploration	$58.0M	$26.0M	$22.0M	$43.0M
General and administrative	$68.0M	$115.0M	$95.0M	$66.0M
Transaction, reorganization, and separation	$12.0M	$7.0M	$18.0M	$11.0M
Depreciation, depletion, and amortization	$504.0M	$553.0M	$565.0M	$530.0M
Asset retirement obligation accretion	$43.0M	$42.0M	$40.0M	$39.0M
Financing costs, net	$58.0M	$57.0M	$46.0M	$66.0M
Total operating expenses	$1.1B	$1.4B	$1.5B	$1.6B
Income Before Income Taxes	$1.3B	$830.0M	$511.0M	$1.0B
Current income tax provision	$234.0M	$302.0M	$100.0M	$232.0M
Deferred income tax provision	$216.0M	($15.0M)	$133.0M	$131.0M
NET INCOME INCLUDING NONCONTROLLING INTERESTS	$827.0M	$543.0M	$278.0M	$665.0M
Net income attributable to noncontrolling interest	$80.0M	$97.0M	$73.0M	$62.0M
Net income attributable to common stock	$747.0M	$446.0M	—	$603.0M
Basic (in USD per share)	$2.11	$1.26	$0.57	$1.67
Diluted (in USD per share)	$2.11	$1.26	$0.57	$1.67
Basic (in shares)	353.0M	354.0M	357.0M	361.0M
Diluted (in shares)	354.0M	354.0M	358.0M	361.0M

Balance sheet

APA Corp balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and cash equivalents	$516.0M	$625.0M	$87.0M	$245.0M
Receivables, net of allowance of $140 and $123	$1.1B	$2.0B	$1.6B	—
Other current assets (Note 5)	$543.0M	$820.0M	$765.0M	$997.0M
Total current assets	$2.1B	$3.4B	$2.5B	$2.7B
Oil and gas properties, on the basis of successful efforts accounting:	$45.5B	$44.7B	$44.9B	$42.4B
Gathering, processing, and transmission facilities	$445.0M	$433.0M	$448.0M	$449.0M
Other	$536.0M	$562.0M	$634.0M	$613.0M
Less: Accumulated depreciation, depletion, and amortization	($33.7B)	($33.0B)	($35.9B)	($34.4B)
Property and equipment, net	$12.7B	$12.6B	$10.0B	$9.0B
Decommissioning security for sold Gulf of America properties (Note 10)	$21.0M	$21.0M	$21.0M	$217.0M
Deferred tax asset (Note 9)	$2.3B	$2.7B	$1.8B	—
Deferred charges and other	$543.0M	$616.0M	$528.0M	$586.0M
ASSETS	$17.8B	$19.4B	$15.2B	$13.1B
Accounts payable	$871.0M	$1.2B	$658.0M	$771.0M
Current debt	$213.0M	$53.0M	$2.0M	$2.0M
Other current liabilities (Note 6)	$1.5B	$1.7B	$1.7B	$2.1B
Total current liabilities	$2.6B	$3.0B	$2.4B	$2.9B
LONG-TERM DEBT (Note 8)	$4.3B	$6.0B	$5.2B	$5.5B
Deferred tax liability (Note 9)	$0	$14.0M	$371.0M	$314.0M
Asset retirement obligation (Note 7)	$2.7B	$2.6B	$2.4B	$1.9B
Decommissioning contingency for sold Gulf of America properties (Note 10)	$782.0M	$929.0M	$764.0M	$738.0M
Other	$426.0M	$548.0M	$466.0M	$443.0M
Total deferred credits and other noncurrent liabilities	$3.9B	$4.1B	$4.0B	$3.4B
Common stock, $0.625 par, 860,000,000 shares authorized, 492,038,127 and 491,579,646 shares issued, respectively	308.0M	307.0M	263.0M	262.0M
Paid-in capital	$12.8B	$13.2B	$11.1B	$11.4B
Accumulated deficit	($721.0M)	($2.2B)	($3.0B)	($5.8B)
Treasury stock, at cost, 139,073,481 and 126,182,497 shares, respectively	-6.3B	-6.0B	-5.8B	-5.5B
Accumulated other comprehensive income	$10.0M	$12.0M	$15.0M	$14.0M
APA SHAREHOLDERS’ EQUITY	$6.1B	$5.3B	$2.7B	$423.0M
Noncontrolling interest	$910.0M	$1.1B	$1.0B	$922.0M
TOTAL EQUITY	$7.0B	$6.4B	$3.7B	$1.3B
LIABILITIES, NONCONTROLLING INTEREST, AND EQUITY	$17.8B	—	—	—

APA Corp balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Cash and cash equivalents	$444.0M	$293.0M	$475.0M	$107.0M
Receivables, net of allowance of $125 and $140	$1.2B	$1.5B	$1.0B	$1.5B
Other current assets (Note 5)	$611.0M	$540.0M	$484.0M	$672.0M
Total current assets	$2.3B	$2.3B	$2.0B	$2.3B
Oil and gas properties	$46.7B	$46.1B	$45.3B	$44.6B
Gathering, processing, and transmission facilities	$445.0M	$445.0M	$447.0M	$448.0M
Other	$535.0M	$532.0M	$556.0M	$556.0M
Less: Accumulated depreciation, depletion, and amortization	($34.8B)	($34.3B)	($33.5B)	($33.0B)
Property and equipment, net	$12.9B	$12.8B	$12.7B	$12.6B
Deferred tax asset (Note 9)	$2.1B	$2.3B	$2.4B	$2.5B
Deferred charges and other	$671.0M	$602.0M	$602.0M	$611.0M
ASSETS	$18.0B	$18.1B	$17.7B	$18.1B
Accounts payable	$730.0M	$798.0M	$920.0M	$1.1B
Current debt	$2.0M	$134.0M	$213.0M	$263.0M
Other current liabilities (Note 6)	$1.7B	$1.6B	$1.4B	$1.5B
Liabilities, Current, Total	$2.4B	$2.5B	$2.5B	$2.8B
LONG-TERM DEBT (Note 8)	$3.7B	$4.3B	$4.3B	$4.3B
Asset retirement obligation (Note 7)	$2.7B	$2.7B	$2.6B	$2.6B
Decommissioning contingency for sold Gulf of America properties (Note 10)	$677.0M	$748.0M	$858.0M	$909.0M
Other	$481.0M	$463.0M	$511.0M	$513.0M
Total deferred credits and other noncurrent liabilities	$3.9B	$3.9B	$4.0B	$4.0B
Common stock, $0.625 par, 860,000,000 shares authorized, 492,577,134 and 492,038,127 shares issued, respectively	308.0M	308.0M	308.0M	308.0M
Paid-in capital	$12.7B	$12.7B	$12.9B	$13.0B
Retained earnings (accumulated deficit)	$384.0M	($275.0M)	($1.0B)	($1.2B)
Treasury stock, at cost, 141,910,293 and 139,073,481 shares, respectively	-6.4B	-6.3B	-6.3B	-6.2B
Accumulated other comprehensive income	$9.0M	$10.0M	$11.0M	$11.0M
APA SHAREHOLDERS’ EQUITY	$7.0B	$6.5B	$6.0B	$5.9B
Noncontrolling interest	$923.0M	$942.0M	$898.0M	$998.0M
TOTAL EQUITY	$7.9B	$7.4B	$6.9B	$6.9B
LIABILITIES, NONCONTROLLING INTERESTS, AND EQUITY	$18.0B	$18.1B	$17.7B	$18.1B

Cash flow statement

APA Corp cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net income including noncontrolling interests	$1.7B	$1.1B	$3.2B	$4.1B
Unrealized derivative instrument (gains) losses, net	$77.0M	$8.0M	($51.0M)	$67.0M
Gain on divestitures, net	($301.0M)	($289.0M)	($8.0M)	($1.2B)
Exploratory dry hole expense and unproved leasehold impairments	$69.0M	$236.0M	$114.0M	$207.0M
Depreciation, depletion, and amortization	$2.3B	$2.3B	$1.5B	$1.2B
Asset retirement obligation accretion	$158.0M	$148.0M	$116.0M	$117.0M
Impairments	$44.0M	$1.1B	$61.0M	$0
Provision for (benefit from) deferred income taxes	$360.0M	($736.0M)	($1.7B)	$145.0M
Gain from extinguishment of debt	($147.0M)	$0	($9.0M)	$67.0M
(Gains) losses on previously sold Gulf of America properties	($60.0M)	$273.0M	$212.0M	$157.0M
Other	$57.0M	$2.0M	$26.0M	($73.0M)
Receivables	$850.0M	($104.0M)	($157.0M)	($93.0M)
Inventories	$7.0M	($11.0M)	$13.0M	($1.0M)
Drilling advances and other current assets	$223.0M	($56.0M)	$269.0M	($15.0M)
Deferred charges and other long-term assets	$36.0M	$11.0M	$270.0M	$69.0M
Accounts payable	($365.0M)	$81.0M	($84.0M)	($4.0M)
Accrued expenses	($199.0M)	($221.0M)	($400.0M)	$303.0M
Deferred credits and noncurrent liabilities	($260.0M)	($235.0M)	($328.0M)	($138.0M)
NET CASH PROVIDED BY OPERATING ACTIVITIES	$4.5B	$3.6B	$3.1B	$4.9B
Additions to oil and gas property	($2.7B)	($2.9B)	($2.3B)	($1.8B)
Acquisition of Delaware Basin properties	$0	$0	($24.0M)	($591.0M)
Leasehold and property acquisitions	($26.0M)	($60.0M)	($20.0M)	($37.0M)
Proceeds from asset divestitures	$611.0M	$1.6B	$29.0M	$778.0M
Proceeds from sale of Kinetik shares	0	428.0M	228.0M	224.0M
Other, net	$2.0M	($50.0M)	($38.0M)	$28.0M
NET CASH USED IN INVESTING ACTIVITIES	($2.2B)	($924.0M)	($2.1B)	($1.5B)
Payments on commercial paper and revolving credit facilities, net	($333.0M)	—	—	—
Proceeds from term loan facility	$0	$1.5B	—	—
Payments on term loan facility	($900.0M)	($600.0M)	—	—
Payment on Callon Credit Agreement	$0	($472.0M)	—	—
Fixed rate debt borrowings	$846.0M	—	—	$0
Payments on fixed-rate debt	($1.0B)	($1.6B)	($65.0M)	($1.5B)
Distributions to noncontrolling interest	($430.0M)	($268.0M)	($238.0M)	($362.0M)
Dividends paid to APA common stockholders	($360.0M)	($353.0M)	($308.0M)	($207.0M)
Treasury stock activity, net	($280.0M)	($246.0M)	($329.0M)	($1.4B)
Other, net	($28.0M)	($38.0M)	($15.0M)	($17.0M)
NET CASH USED IN FINANCING ACTIVITIES	($2.5B)	($2.2B)	($1.1B)	($3.5B)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	($109.0M)	$538.0M	($158.0M)	($57.0M)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	$625.0M	$87.0M	$245.0M	$302.0M
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$516.0M	$625.0M	$87.0M	$245.0M
Interest paid, net of capitalized interest	$281.0M	$372.0M	$329.0M	$322.0M
Income taxes paid, net of refunds	$999.0M	$1.1B	$1.3B	$1.4B

APA Corp cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net income including noncontrolling interests	$1.4B	$543.0M	$1.4B	$1.1B
Unrealized derivative instrument gains, net	($70.0M)	$47.0M	$40.0M	($108.0M)
(Gain) loss on divestitures, net	$2.0M	$0	($285.0M)	($280.0M)
Exploratory dry hole expense and unproved leasehold impairments	$56.0M	$12.0M	$47.0M	$43.0M
Depreciation, depletion, and amortization	$1.1B	$553.0M	$1.7B	$1.2B
Asset retirement obligation accretion	$85.0M	$42.0M	$118.0M	$78.0M
Provision for deferred income taxes	$201.0M	($15.0M)	$303.0M	$170.0M
(Gain) loss on extinguishment of debt	$4.0M	$0	($147.0M)	($145.0M)
Other, net	($6.0M)	$9.0M	$46.0M	$18.0M
Receivables	($147.0M)	($391.0M)	$872.0M	$433.0M
Inventories	($26.0M)	$1.0M	$10.0M	$5.0M
Drilling advances and other current assets	($33.0M)	($7.0M)	$293.0M	$222.0M
Deferred charges and other long-term assets	($3.0M)	$6.0M	$11.0M	$1.0M
Accounts payable	($123.0M)	($71.0M)	($305.0M)	($153.0M)
Accrued expenses	($50.0M)	($163.0M)	($253.0M)	($204.0M)
Deferred credits and noncurrent liabilities	($57.0M)	($12.0M)	($112.0M)	($59.0M)
NET CASH PROVIDED BY OPERATING ACTIVITIES	$2.3B	$554.0M	$3.7B	$2.3B
Additions to upstream oil and gas property	($1.1B)	($542.0M)	($2.2B)	($1.4B)
Leasehold and property acquisitions	($6.0M)	($4.0M)	($20.0M)	($20.0M)
Proceeds from asset divestitures	$0	—	$590.0M	$571.0M
Other, net	($16.0M)	$4.0M	$5.0M	$5.0M
NET CASH USED IN INVESTING ACTIVITIES	($1.1B)	($542.0M)	($1.6B)	($881.0M)
Payments on commercial paper and revolving credit facilities, net	$0	$0	—	—
Payments on term loan facility	$0	$0	($900.0M)	—
Fixed-rate debt borrowings	$0	$0	$846.0M	$846.0M
Payments on fixed-rate debt	($754.0M)	($79.0M)	($1.0B)	($954.0M)
Distributions to noncontrolling interest	($164.0M)	($65.0M)	($390.0M)	($217.0M)
Treasury stock activity, net	($100.0M)	$0	($215.0M)	($150.0M)
Dividends paid to APA common stockholders	($177.0M)	($88.0M)	($271.0M)	($181.0M)
Other, net	($4.0M)	($3.0M)	($27.0M)	($25.0M)
NET CASH USED IN FINANCING ACTIVITIES	($1.2B)	($235.0M)	($2.3B)	($1.9B)
NET DECREASE IN CASH AND CASH EQUIVALENTS	($72.0M)	($223.0M)	($150.0M)	($518.0M)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	$516.0M	$516.0M	$625.0M	$625.0M
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$444.0M	$293.0M	$475.0M	$107.0M
Interest paid, net of capitalized interest	$117.0M	$88.0M	$253.0M	$155.0M
Income taxes paid, net of refunds	$477.0M	$280.0M	$762.0M	$542.0M

APA Corp score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.