APA Corp
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
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FY2025 · Filed Feb 26, 2026
APA$45.12+1.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Statement of Consolidated Cash Flows
| For the Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| (In millions) | |||
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net income including noncontrolling interests | $1,692 | $1,118 | $3,207 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Unrealized derivative instrument (gains) losses, net | 77 | 8 | (51) |
| Gain on divestitures, net | (301) | (289) | (8) |
| Exploratory dry hole expense and unproved leasehold impairments | 69 | 236 | 114 |
| Depreciation, depletion, and amortization | 2,304 | 2,266 | 1,540 |
| Asset retirement obligation accretion | 158 | 148 | 116 |
| Impairments | 44 | 1,129 | 61 |
| Provision for (benefit from) deferred income taxes | 360 | (736) | (1,662) |
| Gain from extinguishment of debt | (147) | — | (9) |
| (Gains) losses on previously sold Gulf of America properties | (60) | 273 | 212 |
| Other | 57 | 2 | 26 |
| Changes in operating assets and liabilities: | |||
| Receivables | 850 | (104) | (157) |
| Inventories | 7 | (11) | 13 |
| Drilling advances and other current assets | 223 | (56) | 269 |
| Deferred charges and other long-term assets | 36 | 11 | 270 |
| Accounts payable | (365) | 81 | (84) |
| Accrued expenses | (199) | (221) | (400) |
| Deferred credits and noncurrent liabilities | (260) | (235) | (328) |
| NET CASH PROVIDED BY OPERATING ACTIVITIES | 4,545 | 3,620 | 3,129 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Additions to oil and gas property | (2,740) | (2,851) | (2,313) |
| Acquisition of Delaware Basin properties | — | — | (24) |
| Leasehold and property acquisitions | (26) | (60) | (20) |
| Proceeds from asset divestitures | 611 | 1,609 | 29 |
| Proceeds from sale of Kinetik shares | — | 428 | 228 |
| Other, net | 2 | (50) | (38) |
| NET CASH USED IN INVESTING ACTIVITIES | (2,153) | (924) | (2,138) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Payments on commercial paper and revolving credit facilities, net | (333) | (40) | (194) |
| Proceeds from term loan facility | — | 1,500 | — |
| Payments on term loan facility | (900) | (600) | — |
| Payment on Callon Credit Agreement | — | (472) | — |
| Fixed rate debt borrowings | 846 | — | — |
| Payments on fixed-rate debt | (1,016) | (1,641) | (65) |
| Distributions to noncontrolling interest | (430) | (268) | (238) |
| Dividends paid to APA common stockholders | (360) | (353) | (308) |
| Treasury stock activity, net | (280) | (246) | (329) |
| Other, net | (28) | (38) | (15) |
| NET CASH USED IN FINANCING ACTIVITIES | (2,501) | (2,158) | (1,149) |
| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (109) | 538 | (158) |
| CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR | 625 | 87 | 245 |
| CASH AND CASH EQUIVALENTS AT END OF PERIOD | $516 | $625 | $87 |
| SUPPLEMENTARY CASH FLOW DATA: | |||
| Interest paid, net of capitalized interest | $281 | $372 | $329 |
| Income taxes paid, net of refunds | 999 | 1,097 | 1,271 |
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