Apache Corp., balance sheet: property, plant and equipment

US$ in millions

	Dec 31, 2015	Dec 31, 2014	Dec 31, 2013	Dec 31, 2012	Dec 31, 2011
Proved properties	89,069)	89,852)	83,390)	78,383)	67,805)
Unproved properties and properties under development, not being amortized	2,611)	7,014)	8,363)	8,754)	5,530)
Oil and gas, on the basis of full-cost accounting	91,680)	96,866)	91,753)	87,137)	73,335)
Gathering, transmission, and processing facilities	1,052)	5,440)	6,995)	5,955)	5,175)
Other	1,093)	1,152)	1,071)	1,055)	709)
Property and equipment, gross	93,825)	103,458)	99,819)	94,147)	79,219)
Accumulated depreciation, depletion and amortization	(79,706)	(55,382)	(47,398)	(40,867)	(33,771)
Property and equipment, less accumulated depreciation, depletion, and amortization	14,119)	48,076)	52,421)	53,280)	45,448)

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Item	Description	The company
Property and equipment, gross	Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Apache Corp. property and equipment, gross increased from 2013 to 2014 but then decreased significantly from 2014 to 2015.
Property and equipment, less accumulated depreciation, depletion, and amortization	Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Apache Corp. property and equipment, less accumulated depreciation, depletion, and amortization decreased from 2013 to 2014 and from 2014 to 2015.

Apache Corp., asset age ratios

		Dec 31, 2015	Dec 31, 2014	Dec 31, 2013	Dec 31, 2012	Dec 31, 2011
	Average age ratio	84.95%	53.53%	47.48%	43.41%	42.63%

Asset age ratio	Description	The company
Average age ratio	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	Apache Corp. average age ratio of depreciable property, plant and equipment deteriorated from 2013 to 2014 and from 2014 to 2015.

	Dec 31, 2015	Dec 31, 2014	Dec 31, 2013	Dec 31, 2012	Dec 31, 2011
Selected Financial Data (US$ in millions)
Accumulated depreciation, depletion and amortization	79,706)	55,382)	47,398)	40,867)	33,771)
Property and equipment, gross	93,825)	103,458)	99,819)	94,147)	79,219)
Asset Age Ratio
Average age¹	84.95%	53.53%	47.48%	43.41%	42.63%

2015 Calculations

¹ Average age = 100 × Accumulated depreciation, depletion and amortization ÷ Property and equipment, gross
= 100 × 79,706 ÷ 93,825 = 84.95%

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Asset age ratio	Description	The company
Average age	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	Apache Corp. average age ratio of depreciable property, plant and equipment deteriorated from 2013 to 2014 and from 2014 to 2015.

Apache Corp. (NYSE:APA)

Analysis of Property, Plant and Equipment