v3.26.1
DEBT AND FINANCING COSTS (Tables)
6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Debt
The following table presents the carrying values of the Company’s debt:
June 30,
2026
December 31,
2025
(In millions)
APA notes and debentures before unamortized discount and debt issuance costs(1)
$3,178 $3,579 
Apache notes and debentures before unamortized discount and debt issuance costs(2)
582 932 
Apache finance lease obligations26 28 
Unamortized discount(21)(23)
Debt issuance costs(22)(23)
Total debt3,743 4,493 
Current maturities(2)(213)
Long-term debt$3,741 $4,280 
(1) The fair values of the APA notes and debentures were $3.1 billion and $3.4 billion as of June 30, 2026 and December 31, 2025, respectively.
(2) The fair values of the Apache notes and debentures were $534 million and $881 million as of June 30, 2026 and December 31, 2025, respectively. The Company uses a market approach to determine the fair values of its notes and debentures using estimates provided by an independent investment financial data services firm (a Level 2 fair value measurement).
Schedule Of Financing Costs, Net
The following table presents the components of the Company’s financing costs, net:
For the Quarter Ended
June 30,
For the Six Months Ended
June 30,
2026202520262025
(In millions)
Interest expense$69 $86 $139 $177 
Amortization of debt issuance costs
Capitalized interest(16)(16)(30)(20)
Loss (gain) on extinguishment of debt(3)(145)
Interest income— (3)— (7)
Financing costs, net$58 $66 $115 $