Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Apache Corp., consolidated income statement

US$ in millions

12 months ended:	Dec 31, 2015	Dec 31, 2014	Dec 31, 2013	Dec 31, 2012	Dec 31, 2011
Oil revenues	4,999)	10,752)	12,903)	13,210)	12,679)
Gas revenues	1,157)	2,329)	2,829)	3,193)	3,609)
Natural gas liquids revenues	227)	668)	670)	544)	522)
Oil and gas production revenues	6,383)	13,749)	16,402)	16,947)	16,810)
Lease operating expenses	(1,854)	(2,479)	(3,056)	(2,968)	(2,605)
Gathering and transportation	(211)	(273)	(297)	(303)	(296)
Cost of revenues	(2,065)	(2,752)	(3,353)	(3,271)	(2,901)
Gross profit	4,318)	10,997)	13,049)	13,676)	13,909)
Recurring	(3,531)	(4,747)	(5,114)	(4,812)	(3,814)
Additional	(25,517)	(5,001)	(1,176)	(1,926)	(109)
Oil and gas property and equipment	(29,048)	(9,748)	(6,290)	(6,738)	(3,923)
Other assets	(324)	(410)	(410)	(371)	(281)
Depreciation, depletion, and amortization	(29,372)	(10,158)	(6,700)	(7,109)	(4,204)
Asset retirement obligation accretion	(145)	(181)	(243)	(232)	(154)
Taxes other than income	(282)	(678)	(832)	(862)	(899)
Impairments	(1,920)	(2,357)	—)	—)	—)
General and administrative	(377)	(434)	(503)	(531)	(459)
Transaction, reorganization, and separation	(132)	(67)	(33)	(31)	(20)
Operating income (loss)	(27,910)	(2,878)	4,738)	4,911)	8,173)
Derivative instrument gains (losses), net	—)	284)	(399)	(79)	—)
Other	(17)	(182)	51)	210)	78)
Interest expense, net of capitalized interest	(259)	(136)	(197)	(175)	(170)
Amortization of deferred loan costs	(11)	(6)	(8)	(7)	(5)
Gain (loss) on extinguishment of debt	(39)	—)	16)	—)	—)
Interest income	10)	12)	15)	17)	17)
Financing costs, net	(299)	(130)	(174)	(165)	(158)
Net income (loss) from continuing operations before income taxes	(28,226)	(2,906)	4,216)	4,877)	8,093)
Income tax (provision) benefit	5,469)	(1,637)	(1,928)	(2,876)	(3,509)
Net income (loss) from continuing operations including noncontrolling interest	(22,757)	(4,543)	2,288)	2,001)	4,584)
Net loss from discontinued operations, net of tax	(771)	(517)	—)	—)	—)
Net income (loss) including noncontrolling interest	(23,528)	(5,060)	2,288)	2,001)	4,584)
Net (income) loss attributable to noncontrolling interest	409)	(343)	(56)	—)	—)
Net income (loss) attributable to Apache shareholders	(23,119)	(5,403)	2,232)	2,001)	4,584)
Preferred stock dividends	—)	—)	(44)	(76)	(76)
Income (loss) attributable to common stock	(23,119)	(5,403)	2,188)	1,925)	4,508)

Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31).

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Income statement item	Description	The company
Oil and gas production revenues	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Apache Corp. oil and gas production revenues decreased from 2013 to 2014 and from 2014 to 2015.
Operating income (loss)	The net result for the period of deducting operating expenses from operating revenues.	Apache Corp. operating income (loss) decreased from 2013 to 2014 and from 2014 to 2015.
Net income (loss) from continuing operations before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Apache Corp. net income (loss) from continuing operations before income taxes decreased from 2013 to 2014 and from 2014 to 2015.
Net income (loss) attributable to Apache shareholders	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Apache Corp. net income (loss) attributable to Apache shareholders decreased from 2013 to 2014 and from 2014 to 2015.

Apache Corp. (NYSE:APA)

Income Statement