Page 104

APACHE CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued) Derivative Activity Recorded in the Statement of Consolidated Operations The following table summarizes the effect of derivative instruments on the Company’s statement of consolidated operations: Gain (Loss) on Derivatives Recognized in Income

For the Year Ended December 31, 2015 2014 2013 (In millions)

Loss on cash flow hedges reclassified from Oil and Gas Production accumulated other comprehensive loss . . . Revenues Loss for ineffectiveness on cash flow hedges . . . . . . . . . . . . . . . . . . . . . . . . . . . . Revenues and Other: Other Derivatives not designated as cash flow hedges: Realized loss . . . . . . . . . . . . . . . . . . . . . . . Unrealized gain (loss) . . . . . . . . . . . . . . . . Gain (loss) on derivatives not designated as cash flow hedges . . . . . . . . . . . . . . . . . . . . Revenues and Other: Other

$

- $

- $

(16)

$

- $

- $

(1)

$

- $ -

(16) $ 300

(178) (221)

$

- $

284 $

(399)

Unrealized gains and losses for derivative activity recorded in the statement of consolidated operations is reflected in the statement of consolidated cash flows as a component of “Other” in “Adjustments to reconcile net income (loss) to net cash provided by operating activities.” 4.

OTHER CURRENT LIABILITIES

The following table provides detail of the Company’s other current liabilities at December 31, 2015 and 2014: December 31, 2015 2014 (In millions)

Accrued operating expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Accrued exploration and development . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Accrued compensation and benefits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Accrued interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Accrued income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Current asset retirement obligation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Current debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

$

139 637 166 144 47 36 1 53

$

163 1,606 204 160 54 37 230

Total Other current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

$

1,223

$

2,454

F-22

Apache 2015 Summary Annual Report  

Adapting to a changing environment

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