DEBT (Tables)

12 Months Ended

Dec. 31, 2013

Debt Disclosure [Abstract]

Debt for Apache and Subsidiaries

The following table presents the carrying value of the Company’s debt at December 31, 2013 and 2012:

	December 31,
	2013			2012
	(In millions)
U.S.:
Money market lines of credit	$	—		$	13
Commercial paper		—			489
5.25% notes due 2013(1)		—			500
6.0% notes due 2013(1)		—			400
5.625% notes due 2017(1)		500			500
1.75% notes due 2017(1)		400			400
6.9% notes due 2018(1)		400			400
7.0% notes due 2018		150			150
7.625% notes due 2019		150			150
3.625% notes due 2021(1)		500			500
3.25% notes due 2022(1)		919			1,100
2.625% notes due 2023(1)		531			1,200
7.7% notes due 2026		100			100
7.95% notes due 2026		180			180
6.0% notes due 2037(1)		1,000			1,000
5.1% notes due 2040(1)		1,500			1,500
5.25% notes due 2042(1)		500			500
4.75% notes due 2043(1)		1,500			1,500
4.25% notes due 2044(1)		800			800
7.375% debentures due 2047		150			150
7.625% debentures due 2096		150			150
		9,430			11,682
Subsidiary and other obligations:
Argentina overdraft lines of credit		51			69
Canada lines of credit		2			9
Apache Finance Canada 4.375% notes due 2015(1)		—			350
Notes due in 2016 and 2017		1			1
Apache Finance Canada 7.75% notes due 2029		300			300
		354			729
Debt before unamortized discount		9,784			12,411
Unamortized discount		(59	)		(66	)
Total debt	$	9,725		$	12,345
Current maturities	$	(53	)	$	(990	)
Long-term debt	$	9,672		$	11,355

⁽¹⁾  These notes are redeemable, as a whole or in part, at Apache’s option, subject to a make-whole premium. The remaining notes and debentures are not redeemable.

Schedule of Long Term Debt by Maturity

Debt maturities as of December 31, 2013, excluding discounts, are as follows:

	(In millions)
2014	$	53
2015		—
2016		1
2017		900
2018		550
Thereafter		8,280
Total Debt, excluding discounts	$	9,784

Non-Recurring Fair Value Measurement

Apache uses a market approach to determine the fair value of its fixed-rate debt using estimates provided by an independent investment financial data services firm (a Level 2 fair value measurement).

	December 31, 2013				December 31, 2012
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(In millions)
Money market lines of credit	$	53	$	53	$	91	$	91
Commercial paper		—		—		489		489
Notes and debentures		9,672		10,247		11,765		13,340
Total Debt	$	9,725	$	10,300	$	12,345	$	13,920

Financing Costs, Net

Financing Costs, Net

The following table presents the components of Apache’s financing costs, net:

	For the Year Ended December 31,
	2013			2012			2011
	(In millions)
Interest expense	$	571		$	509		$	433
Amortization of deferred loan costs		8			7			5
Capitalized interest		(374	)		(334	)		(263	)
Gain on extinguishment of debt		(16	)		—			—
Interest income		(15	)		(17	)		(17	)
Financing costs, net	$	174		$	165		$	158