Stock Analysis on Net
Stock Analysis on Net

Apache Corp. (NYSE:APA)

$22.49

This company has been moved to the archive! The financial data has not been updated since August 4, 2016.

Analysis of Operating Leases

Microsoft Excel

An operating lease is treated like a rental contract. Neither the leased asset nor the associated liability is reported on the lessee balance sheet, but the rights may be very similar to the rights of an owner. The lessee only records the lease payments as a rental expense in income statement.

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Present Value of Future Operating Lease Payments (before Adoption of FASB Topic 842)

Apache Corp., future operating lease payments (before adoption of FASB Topic 842)

US$ in millions

Microsoft Excel
Dec 31, 2015 Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Dec 31, 2011
Total undiscounted future operating lease payments
Discount rate1
 
Total present value of future operating lease payments

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).

1 Weighted-average interest rate for Apache Corp. debt

Year Future operating lease payments (as reported) Year Future operating lease payments (estimated) Present value at
2016 2016
2017 2017
2018 2018
2019 2019
2020 2020
2021 and thereafter 2021
2022
2023
2024
Total:

Based on: 10-K (reporting date: 2015-12-31).

Year Future operating lease payments (as reported) Year Future operating lease payments (estimated) Present value at
2015 2015
2016 2016
2017 2017
2018 2018
2019 2019
2020 and thereafter 2020
2021
Total:

Based on: 10-K (reporting date: 2014-12-31).

Year Future operating lease payments (as reported) Year Future operating lease payments (estimated) Present value at
2014 2014
2015 2015
2016 2016
2017 2017
2018 2018
2019 and thereafter 2019
2020
Total:

Based on: 10-K (reporting date: 2013-12-31).

Year Future operating lease payments (as reported) Year Future operating lease payments (estimated) Present value at
2013 2013
2014 2014
2015 2015
2016 2016
2017 2017
2018 and thereafter 2018
2019
Total:

Based on: 10-K (reporting date: 2012-12-31).

Year Future operating lease payments (as reported) Year Future operating lease payments (estimated) Present value at
2012 2012
2013 2013
2014 2014
2015 2015
2016 2016
2017 and thereafter 2017
2018
Total:

Based on: 10-K (reporting date: 2011-12-31).

Adjustments to Financial Statements for Operating Leases

Apache Corp., adjustments to financial statements

US$ in millions

Microsoft Excel
Dec 31, 2015 Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Dec 31, 2011
Adjustment to Total Assets
Total assets (as reported)
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1
Total assets (adjusted)
Adjustment to Total Debt
Total debt (as reported)
Add: Operating lease liability (before adoption of FASB Topic 842)2
Total debt (adjusted)

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).

1, 2 Equal to total present value of future operating lease payments.

Apache Corp., Financial Data: Reported vs. Adjusted

Adjusted Financial Ratios for Operating Leases (Summary)

Apache Corp., adjusted financial ratios

Microsoft Excel
Dec 31, 2015 Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Dec 31, 2011
Total Asset Turnover1
Reported total asset turnover
Adjusted total asset turnover
Debt to Equity2
Reported debt to equity
Adjusted debt to equity
Return on Assets3 (ROA)
Reported ROA
Adjusted ROA

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).

1 See details »

2 See details »

3 See details »

Financial ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Apache Corp. adjusted total asset turnover ratio deteriorated from 2013 to 2014 but then improved from 2014 to 2015 exceeding 2013 level.
Adjusted debt to equity A solvency ratio calculated as adjusted total debt divided by total shareholders’ equity. Apache Corp. adjusted debt to equity ratio deteriorated from 2013 to 2014 and from 2014 to 2015.
Adjusted ROA A profitability ratio calculated as net income divided by adjusted total assets. Apache Corp. adjusted ROA deteriorated from 2013 to 2014 and from 2014 to 2015.

Apache Corp., Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

Microsoft Excel
Dec 31, 2015 Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Dec 31, 2011
As Reported
Selected Financial Data (US$ in millions)
Oil and gas production revenues
Total assets
Activity Ratio
Total asset turnover1
Adjusted for Operating Leases
Selected Financial Data (US$ in millions)
Oil and gas production revenues
Adjusted total assets
Activity Ratio
Adjusted total asset turnover2

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).

2015 Calculations

1 Total asset turnover = Oil and gas production revenues ÷ Total assets
= ÷ =

2 Adjusted total asset turnover = Oil and gas production revenues ÷ Adjusted total assets
= ÷ =

Activity ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Apache Corp. adjusted total asset turnover ratio deteriorated from 2013 to 2014 but then improved from 2014 to 2015 exceeding 2013 level.

Adjusted Debt to Equity

Microsoft Excel
Dec 31, 2015 Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Dec 31, 2011
As Reported
Selected Financial Data (US$ in millions)
Total debt
Total Apache shareholders’ equity
Solvency Ratio
Debt to equity1
Adjusted for Operating Leases
Selected Financial Data (US$ in millions)
Adjusted total debt
Total Apache shareholders’ equity
Solvency Ratio
Adjusted debt to equity2

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).

2015 Calculations

1 Debt to equity = Total debt ÷ Total Apache shareholders’ equity
= ÷ =

2 Adjusted debt to equity = Adjusted total debt ÷ Total Apache shareholders’ equity
= ÷ =

Solvency ratio Description The company
Adjusted debt-to-equity A solvency ratio calculated as adjusted total debt divided by total shareholders’ equity. Apache Corp. adjusted debt-to-equity ratio deteriorated from 2013 to 2014 and from 2014 to 2015.

Adjusted Return on Assets (ROA)

Microsoft Excel
Dec 31, 2015 Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Dec 31, 2011
As Reported
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Apache shareholders
Total assets
Profitability Ratio
ROA1
Adjusted for Operating Leases
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Apache shareholders
Adjusted total assets
Profitability Ratio
Adjusted ROA2

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).

2015 Calculations

1 ROA = 100 × Net income (loss) attributable to Apache shareholders ÷ Total assets
= 100 × ÷ =

2 Adjusted ROA = 100 × Net income (loss) attributable to Apache shareholders ÷ Adjusted total assets
= 100 × ÷ =

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as net income divided by adjusted total assets. Apache Corp. adjusted ROA deteriorated from 2013 to 2014 and from 2014 to 2015.