v3.25.2
CAPITAL STOCK
 6 Months Ended
Jun. 30, 2025
Equity [Abstract]  
CAPITAL STOCK CAPITAL STOCK
Net Income per Common Share
The following table presents a reconciliation of the components of basic and diluted net income per common share in the consolidated financial statements:
 
For the Quarter Ended June 30,
 20252024
 
Income
SharesPer ShareIncomeSharesPer Share
 (In millions, except per share amounts)
Basic:
Income attributable to common stock
$603 361 $1.67 $541 371 $1.46 
Effect of Dilutive Securities:
Stock compensation awards
$— — $— $— 1$— 
Diluted:
Income attributable to common stock
$603 361 $1.67 $541 372 $1.46 
For the Six Months Ended June 30,
20252024
IncomeSharesPer ShareIncomeSharesPer Share
(In millions, except per share amounts)
Basic:
Income attributable to common stock$950 362 $2.62 $673 337 $2.00 
Diluted:
Income attributable to common stock$950 362 $2.62 $673 337 $2.00 
The diluted earnings per share calculation excludes 3.6 million and 2.3 million of options and restricted stock units that were anti-dilutive during the second quarters of 2025 and 2024, respectively, and 3.6 million and 2.1 million during the first six months of 2025 and 2024, respectively.
Stock Repurchase Program
In the second quarter of 2025, the Company repurchased approximately 2.7 million shares at an average price of $18.53 per share. For the six months ended June 30, 2025, the Company repurchased 7.1 million shares at an average price of $21.21 per share, and as of June 30, 2025, the Company had remaining authorization to repurchase up to 27.7 million shares. In the second quarter of 2024, the Company repurchased approximately 1.5 million shares at an average price of $28.72 per share. For the six months ended June 30, 2024, the Company repurchased 4.5 million shares at an average price of $31.77 per share
The Company repurchased 1.0 million shares at an average price of $19.28 per share in July 2025, and as of July 31, 2025, the Company had remaining authorization to repurchase up to 26.7 million shares.
The Company is not obligated to acquire any additional shares. Shares may be purchased either in the open market or through privately negotiated transactions.
Common Stock Dividend
For the quarters ended June 30, 2025 and June 30, 2024, the Company paid $90 million and $92 million, respectively, in dividends on its common stock. For the six months ended June 30, 2025 and June 30, 2024, the Company paid $181 million and $168 million, respectively, in dividends on its common stock.
Common Stock Issuance
In the second quarter of 2024, in connection with the Callon acquisition, the Company issued approximately 70 million shares of common stock in exchange for Callon common stock. The total value of stock consideration was approximately $2.4 billion based on APA’s stock price on the closing date of the acquisition.