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APACHE CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued) 10.

CAPITAL STOCK

Common Stock Outstanding 2015

2014

2013

Balance, beginning of year . . . . . . . . . . . . . . . . . . . . . . . . . . . Shares issued for stock-based compensation plans: Treasury shares issued . . . . . . . . . . . . . . . . . . . . . . . . . . . . Common shares issued . . . . . . . . . . . . . . . . . . . . . . . . . . . . Common shares issued for conversion of preferred shares . . Treasury shares acquired . . . . . . . . . . . . . . . . . . . . . . . . . . . .

376,504,892

395,772,908

391,640,770

17,454 1,665,259 (20,950,729)

25,214 929,596 14,399,247 (11,221,919)

Balance, end of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

378,034,175

376,504,892

395,772,908

17,525 1,511,758 -

Net Income per Common Share A reconciliation of the components of basic and diluted net income per common share for the years ended December 31, 2015, 2014, and 2013 is presented in the table below. 2015 Shares Per Share

Loss

2014 2013 Shares Per Share Income Shares Per Share

Loss

(In millions, except per share amounts)

Basic: Income (loss) from continuing operations . . . . . . . . . . . . . . $ (22,348) Income (loss) from discontinued operations . . . (771) Income (loss) attributable to common stock . . . . . . . . . . $ (23,119) Effect of Dilutive Securities: Mandatory Convertible Preferred Stock . . . . . . . . . . $ Stock options and other . . . . .

-

Diluted: Income (loss) from continuing operations . . . . . . . . . . . . . . $ (22,348) Income (loss) from discontinued operations . . . (771) Income (loss) attributable to common stock . . . . . . . . . . $ (23,119)

378 378 378

$ (59.16) $ (3,815) (2.04)

(1,588)

384

$ (61.20) $ (5,403)

384

-

378 378 378

384

$

-

$ (59.16) $ (3,815) (2.04)

$ (9.93) $ 1,880 (4.13)

308

395

$ (14.06) $ 2,188

395

-

384

(1,588)

384

$ (61.20) $ (5,403)

384

395

$

44 -

9 2

$ (9.93) $ 1,924

406

(4.13)

308

406

$ (14.06) $ 2,232

406

$

4.75 0.78

$

5.53

$

4.74 0.76

$

5.50

The diluted EPS calculation excludes options and restricted shares that were anti-dilutive totaling 7.0 million, 4.5 million, and 4.9 million for the years ended December 31, 2015, 2014, and 2013, respectively. Stock Repurchase Program Apache’s Board of Directors has authorized the purchase of up to 40 million shares of the Company’s common stock. Shares may be purchased either in the open market or through privately held negotiated transactions. The Company initiated the buyback program on June 10, 2013, and through December 31, 2014, F-42

Apache 2015 Summary Annual Report  

Adapting to a changing environment

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