APACHE CORPORATION AND SUBSIDIARIES STATEMENT OF CONSOLIDATED CASH FLOWS For the Year Ended December 31, 2012 2011 2010 (In millions)
CASH FLOWS FROM OPERATING ACTIVITIES: Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,001 $ 4,584 $ 3,032 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation, depletion, and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,109 4,204 3,083 Asset retirement obligation accretion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 232 154 111 Provision for deferred income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 677 1,246 952 Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 226 46 190 Changes in operating assets and liabilities: Receivables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 (759) (496) Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (59) (37) 35 Drilling advances . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (343) 26 (28) Deferred charges and other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61 27 (141) Accounts payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (100) 241 214 Accrued expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,142) 90 (309) Deferred credits and noncurrent liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . (170) 131 83 NET CASH PROVIDED BY OPERATING ACTIVITIES . . . . . . . . . . . 8,504 9,953 6,726 CASH FLOWS FROM INVESTING ACTIVITIES: Additions to oil and gas property . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (8,781) (6,414) (4,407) Additions to gas gathering, transmission, and processing facilities . . . . . . . . . (750) (664) (515) Acquisition of Cordillera Energy Partners III, LLC . . . . . . . . . . . . . . . . . . . . . (2,666) — — Acquisition of Yara Pilbara Holdings Pty Limited . . . . . . . . . . . . . . . . . . . . . . (439) — — Acquisition of Devon properties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — (1,018) Acquisition of BP properties and facilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — (6,429) Mariner Energy, Inc. merger . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — (787) Acquisition of Mobil North Sea Limited . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — (1,246) — Acquisitions, other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (252) (567) (126) Proceeds from sale of oil and gas properties . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 422 — Other, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (563) (176) (121) NET CASH USED IN INVESTING ACTIVITIES . . . . . . . . . . . . . . . . . . (13,424) (8,645) (13,403) CASH FLOWS FROM FINANCING ACTIVITIES: Commercial paper, credit facility and bank notes, net . . . . . . . . . . . . . . . . . . . . 549 (925) (32) Fixed rate debt borrowings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,978 — 2,470 Payments on fixed rate debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (400) — (1,023) Proceeds from issuance of common stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — 2,258 Proceeds from issuance of mandatory convertible preferred stock . . . . . . . . . . — — 1,227 Dividends paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (332) (306) (226) Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (10) 84 89 NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES . . 4,785 (1,147) 4,763 NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS . . . . (135) 161 (1,914) CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR . . . . . . . . . . 295 134 2,048 CASH AND CASH EQUIVALENTS AT END OF PERIOD . . . . . . . . . . . . . . . $ 160 $ 295 $ 134 SUPPLEMENTARY CASH FLOW DATA: Interest paid, net of capitalized interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 146 Income taxes paid, net of refunds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,590
$
156 1,686
$
The accompanying notes to consolidated financial statements are an integral part of this statement. F-6
187 1,170