CAPITAL STOCK

Net Loss per Common Share

A reconciliation of the components of basic and diluted net loss per common share for the quarters ended June 30, 2016 and 2015 is presented in the table below.



	For the Quarter Ended June 30,
	2016							2015
	Loss			Shares	Per Share			Income (Loss)			Shares	Per Share
	(In millions, except per share amounts)
Basic:
Loss from continuing operations	$	(244	)	379	$	(0.65	)	$	(980	)	378	$	(2.60	)
Income (loss) from discontinued operations	—			379	—			120			378	0.32
Loss attributable to common stock	$	(244	)	379	$	(0.65	)	$	(860	)	378	$	(2.28	)
Effect of Dilutive Securities:
Stock options and other	$	—		—	$	—		$	—		—	$	—
Diluted:
Loss from continuing operations	$	(244	)	379	$	(0.65	)	$	(980	)	378	$	(2.60	)
Income (loss) from discontinued operations	—			379	—			120			378	0.32
Loss attributable to common stock	$	(244	)	379	$	(0.65	)	$	(860	)	378	$	(2.28	)



	For the Six Months Ended June 30,
	2016							2015
	Loss			Shares	Per Share			Loss			Shares	Per Share
	(In millions, except per share amounts)
Basic:
Loss from continuing operations	$	(616	)	379	$	(1.63	)	$	(2,076	)	377	$	(5.50	)
Loss from discontinued operations	—			379	—			(118		)	377	(0.31		)
Loss attributable to common stock	$	(616	)	379	$	(1.63	)	$	(2,194	)	377	$	(5.81	)
Effect of Dilutive Securities:
Stock options and other	—			—				—			—
Diluted:
Loss from continuing operations	$	(616	)	379	$	(1.63	)	$	(2,076	)	377	$	(5.50	)
Loss from discontinued operations	—			379	—			(118		)	377	(0.31		)
Loss attributable to common stock	$	(616	)	379	$	(1.63	)	$	(2,194	)	377	$	(5.81	)

The diluted earnings per share calculation excludes options and restricted stock units that were anti-dilutive totaling 6.3 million and 8.3 million for the quarters ended June 30, 2016 and 2015, respectively, and 7.4 million and 8.3 million for the six months ended June 30, 2016 and 2015, respectively.

Common Stock Dividends

For the quarters ended June 30, 2016, and 2015, Apache paid $95 million and $95 million, respectively, in dividends on its common stock. For the six months ended June 30, 2016 and 2015, the Company paid $189 million and $189 million, respectively.

Stock Repurchase Program

Apache’s Board of Directors has authorized the purchase of up to 40 million shares of the Company’s common stock. Shares may be purchased either in the open market or through privately negotiated transactions. The Company initiated the buyback program on June 10, 2013, and through December 31, 2015, had repurchased a total of 32.2 million shares at an average price of $88.96 per share. The Company is not obligated to acquire any specific number of shares and has not purchased any shares during 2016.