2021 Q1 Form 10-Q Financial Statement

#000167337921000012 Filed on May 07, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q4 2020 Q1
Revenue $0.00 $1.219B $1.344B
YoY Change -100.0% -29.5% -18.74%
Cost Of Revenue $758.0M $419.0M $421.0M
YoY Change 80.05% -1.41% 15.34%
Gross Profit $1.113B $800.0M $923.0M
YoY Change 20.59% -38.65% -28.39%
Gross Profit Margin 65.63% 68.68%
Selling, General & Admin $185.0M $177.0M $172.0M
YoY Change 7.56% -21.33% -34.35%
% of Gross Profit 16.62% 22.13% 18.63%
Research & Development $31.00M $72.00M $38.00M
YoY Change -18.42% 80.0% -17.39%
% of Gross Profit 2.79% 9.0% 4.12%
Depreciation & Amortization $342.0M $390.0M $566.0M
YoY Change -39.58% -45.91% -12.38%
% of Gross Profit 30.73% 48.75% 61.32%
Operating Expenses $1.279B $667.0M $5.647B
YoY Change -77.35% -34.16% 475.64%
Operating Profit $592.0M $133.0M -$4.303B
YoY Change -113.76% -54.3% -1497.08%
Interest Expense $48.00M -$68.00M -$206.0M
YoY Change -123.3% -26.09% 62.2%
% of Operating Profit 8.11% -51.13%
Other Income/Expense, Net $61.00M $23.00M $13.00M
YoY Change 369.23% 9.52% 62.5%
Pretax Income $620.0M $70.00M -$4.566B
YoY Change -113.58% -102.31% -2867.27%
Income Tax $170.0M $15.00M $56.00M
% Of Pretax Income 27.42% 21.43%
Net Earnings $450.0M $10.00M -$4.622B
YoY Change -109.74% -100.34% 9734.04%
Net Earnings / Revenue 0.82% -343.9%
Basic Earnings Per Share $1.02 -$11.86
Diluted Earnings Per Share $1.02 $26.46K -$11.86
COMMON SHARES
Basic Shares Outstanding 378.0M shares 378.0M shares
Diluted Shares Outstanding 379.0M shares 378.0M shares

Balance Sheet

Concept 2021 Q1 2020 Q4 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $538.0M $262.0M $428.0M
YoY Change 25.7% 6.07% 30.89%
Cash & Equivalents $538.0M $262.0M $428.0M
Short-Term Investments
Other Short-Term Assets $736.0M $676.0M $190.0M
YoY Change 287.37% 350.67% -65.7%
Inventory $502.0M $492.0M $452.0M
Prepaid Expenses
Receivables $1.071B $908.0M $838.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.345B $1.846B $1.908B
YoY Change 22.9% -5.86% -23.8%
LONG-TERM ASSETS
Property, Plant & Equipment $8.718B $8.819B $9.586B
YoY Change -9.05% -37.71% -47.59%
Goodwill $0.00
YoY Change -100.0%
Intangibles
YoY Change
Long-Term Investments $1.567B $1.555B $1.337B
YoY Change 17.2% 23.61% 539.71%
Other Assets $497.0M $526.0M $560.0M
YoY Change -11.25% -27.95% -25.03%
Total Long-Term Assets $10.78B $10.90B $11.48B
YoY Change -6.1% -32.49% -40.34%
TOTAL ASSETS
Total Short-Term Assets $2.345B $1.846B $1.908B
Total Long-Term Assets $10.78B $10.90B $11.48B
Total Assets $13.13B $12.75B $13.39B
YoY Change -1.97% -29.61% -38.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $524.0M $444.0M $528.0M
YoY Change -0.76% -36.12% -22.24%
Accrued Expenses $612.0M $684.0M $750.0M
YoY Change -18.4% -31.26% -31.26%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.000M $2.000M $544.0M
YoY Change -99.63% -81.82% 60.47%
Total Short-Term Liabilities $1.338B $1.308B $2.025B
YoY Change -33.93% -29.49% -14.7%
LONG-TERM LIABILITIES
Long-Term Debt $8.713B $8.770B $8.336B
YoY Change 4.52% 2.51% 2.99%
Other Long-Term Liabilities $581.0M $602.0M $2.376B
YoY Change -75.55% -74.17% 3.13%
Total Long-Term Liabilities $9.294B $9.372B $10.71B
YoY Change -13.24% -13.91% 3.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.338B $1.308B $2.025B
Total Long-Term Liabilities $9.294B $9.372B $10.71B
Total Liabilities $10.63B $10.68B $14.64B
YoY Change -27.36% -28.09% -0.85%
SHAREHOLDERS EQUITY
Retained Earnings -$10.07B -$10.46B
YoY Change
Common Stock $262.0M $262.0M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.189B $3.189B
YoY Change
Treasury Stock Shares 40.94M shares 40.95M shares
Shareholders Equity -$1.258B -$1.639B -$1.246B
YoY Change
Total Liabilities & Shareholders Equity $13.13B $12.75B $13.39B
YoY Change -1.97% -29.61% -38.44%

Cashflow Statement

Concept 2021 Q1 2020 Q4 2020 Q1
OPERATING ACTIVITIES
Net Income $450.0M $10.00M -$4.622B
YoY Change -109.74% -100.34% 9734.04%
Depreciation, Depletion And Amortization $342.0M $390.0M $566.0M
YoY Change -39.58% -45.91% -12.38%
Cash From Operating Activities $671.0M $498.0M $502.0M
YoY Change 33.67% -35.99% -16.05%
INVESTING ACTIVITIES
Capital Expenditures -$256.0M -$197.0M -$531.0M
YoY Change -51.79% -67.86% -38.47%
Acquisitions
YoY Change
Other Investing Activities -$7.000M $7.000M $21.00M
YoY Change -133.33% -114.0% -128.0%
Cash From Investing Activities -$267.0M -$190.0M -$509.0M
YoY Change -47.54% -71.34% -45.74%
FINANCING ACTIVITIES
Cash Dividend Paid $9.000M $94.00M
YoY Change -90.43%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$128.0M -208.0M $188.0M
YoY Change -168.09% 570.97% -500.0%
NET CHANGE
Cash From Operating Activities $671.0M 498.0M $502.0M
Cash From Investing Activities -$267.0M -190.0M -$509.0M
Cash From Financing Activities -$128.0M -208.0M $188.0M
Net Change In Cash $276.0M 100.0M $181.0M
YoY Change 52.49% 19.05% -146.77%
FREE CASH FLOW
Cash From Operating Activities $671.0M $498.0M $502.0M
Capital Expenditures -$256.0M -$197.0M -$531.0M
Free Cash Flow $927.0M $695.0M $1.033B
YoY Change -10.26% -50.04% -29.3%

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CY2021Q1 apa Gathering Processing And Transmission Facilities Noncurrent
GatheringProcessingAndTransmissionFacilitiesNoncurrent
671000000 USD
CY2020Q4 apa Gathering Processing And Transmission Facilities Noncurrent
GatheringProcessingAndTransmissionFacilitiesNoncurrent
670000000 USD
CY2021Q1 us-gaap Property Plant And Equipment Other
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1139000000 USD
CY2020Q4 us-gaap Property Plant And Equipment Other
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1140000000 USD
CY2021Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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35146000000 USD
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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34810000000 USD
CY2021Q1 us-gaap Property Plant And Equipment Net
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8718000000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
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8819000000 USD
CY2021Q1 us-gaap Equity Method Investments
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1567000000 USD
CY2020Q4 us-gaap Deferred Costs And Other Assets
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526000000 USD
CY2021Q1 us-gaap Assets
Assets
13127000000 USD
CY2020Q4 us-gaap Assets
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CY2021Q1 us-gaap Debt Current
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2000000 USD
CY2020Q4 us-gaap Liabilities Current
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1308000000 USD
CY2020Q4 us-gaap Accounts Payable Current
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444000000 USD
CY2020Q4 us-gaap Debt Current
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2000000 USD
CY2021Q1 us-gaap Other Liabilities Current
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8713000000 USD
CY2020Q4 us-gaap Long Term Debt Noncurrent
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8770000000 USD
CY2021Q1 us-gaap Deferred Income Tax Liabilities Net
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237000000 USD
CY2020Q4 us-gaap Deferred Income Tax Liabilities Net
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215000000 USD
CY2021Q1 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
1914000000 USD
CY2020Q4 us-gaap Asset Retirement Obligations Noncurrent
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1888000000 USD
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581000000 USD
CY2020Q4 us-gaap Other Liabilities Noncurrent
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602000000 USD
CY2021Q1 us-gaap Liabilities Other Than Longterm Debt Noncurrent
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2732000000 USD
CY2020Q4 us-gaap Liabilities Other Than Longterm Debt Noncurrent
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2705000000 USD
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605000000 USD
CY2020Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
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608000000 USD
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CY2020Q4 us-gaap Common Stock Par Or Stated Value Per Share
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CY2020Q4 us-gaap Common Stock Shares Authorized
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860000000 shares
CY2021Q1 us-gaap Common Stock Shares Authorized
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860000000 shares
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CY2020Q4 us-gaap Common Stock Shares Issued
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262000000 USD
CY2020Q4 us-gaap Common Stock Value
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262000000 USD
CY2021Q1 us-gaap Additional Paid In Capital
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11727000000 USD
CY2020Q4 us-gaap Additional Paid In Capital
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11735000000 USD
CY2021Q1 us-gaap Retained Earnings Accumulated Deficit
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-10073000000 USD
CY2020Q4 us-gaap Retained Earnings Accumulated Deficit
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3189000000 USD
CY2020Q4 us-gaap Treasury Stock Value
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3189000000 USD
CY2021Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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15000000 USD
CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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14000000 USD
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-1258000000 USD
CY2020Q4 us-gaap Stockholders Equity
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-1639000000 USD
CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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-261000000 USD
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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13127000000 USD
CY2020Q4 us-gaap Liabilities And Stockholders Equity
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4465000000 USD
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-4480000000 USD
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10000000 USD
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CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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40000000 USD
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0.025
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-2000000 USD
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CY2021Q1 us-gaap Use Of Estimates
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<div style="margin-top:10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Use of Estimates</span></div><div style="margin-top:10pt;text-align:justify;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Preparation of financial statements in conformity with GAAP and disclosure of contingent assets and liabilities require management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates on historical experience and various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about carrying values of assets and liabilities that are not readily apparent from other sources. The Company evaluates its estimates and assumptions on a regular basis. Actual results may differ from these estimates and assumptions used in preparation of the Company’s financial statements and changes in these estimates are recorded when known. </span></div><div style="margin-top:10pt;text-align:justify;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Significant estimates with regard to these financial statements include the estimates of fair value for long-lived assets (refer to “Fair Value Measurements” and “Property and Equipment” sections in this Note 1 below), the fair value determination of acquired assets and liabilities (refer to </span><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#ifd8ece1ab5224b09bd3b21ebb3f89b45_49" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Note 2—Acquisitions and Divestitures</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">), the assessment of asset retirement obligations (refer to </span><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#ifd8ece1ab5224b09bd3b21ebb3f89b45_70" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Note 8—Asset Retirement Obligation</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">), the estimate of income taxes (refer to </span><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#ifd8ece1ab5224b09bd3b21ebb3f89b45_73" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Note 10—Income Taxes</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">), and the estimate of proved oil and gas reserves and related present value estimates of future net cash flows therefrom.</span></div>
CY2020Q1 us-gaap Goodwill Impairment Loss
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CY2021Q1 us-gaap Goodwill Impairment Loss
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CY2020Q1 us-gaap Goodwill Impairment Loss
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CY2020Q1 apa Inventory And Other Impairments
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CY2021Q1 us-gaap Asset Impairment Charges
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CY2020Q1 us-gaap Asset Impairment Charges
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671000000 USD
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48000000 USD
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CY2020Q4 us-gaap Capitalized Exploratory Well Costs
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CY2021Q1 apa Derivative Number Of Counterparties
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CY2021Q1 us-gaap Other Liabilities Current
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CY2021Q1 apa Embedded Derivative Expected Timing Until Exercise Of Exchange Option
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CY2021Q1 us-gaap Inventory Net
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CY2021Q1 apa Equity Method Investment Number Of Long Haul Pipeline Entities
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CY2020Q4 apa Accrued Exploration And Development
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CY2020Q1 apa Financing Costs Net
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40000000 shares
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40000000 shares
us-gaap Treasury Stock Shares Acquired
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CY2021Q1 us-gaap Treasury Stock Shares Acquired
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CY2020Q1 us-gaap Common Stock Dividends Per Share Declared
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620000000 USD
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GainLossOnSaleOfBusiness
25000000 USD
CY2020Q1 us-gaap Restructuring Charges
RestructuringCharges
27000000 USD
CY2020Q1 apa Financing Costs Net
FinancingCostsNet
103000000 USD
CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-4566000000 USD
CY2020Q1 us-gaap Assets
Assets
13391000000 USD

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