Apache 10-K2008 FY Annual report

Filed: 2 Mar 09, 12:00am

Content analysis

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	8th grade Avg

New words: abroad, acknowledged, AEB, aggressive, aided, Alam, ample, APPI, Asala, AUD, auditor, backstop, backup, BBB, beach, Bueib, Camino, cathodic, causal, cautionary, CCyB, CDN, choose, CITIC, coating, collapse, collapsing, Collon, column, Commonwealth, confidence, consulting, corrosion, creditor, Cura, Dampier, deviate, diminish, diminished, disagree, discretionary, dislocation, DoCEP, DoIR, downturn, duty, economy, Ekwan, escaped, escrow, Esso, estate, Ewing, explosion, expressly, Faghur, fallen, FAS, fire, foot, foregoing, formally, fracture, Garden, Geauxpher, Gillard, globe, Guanaco, Guide, Gustav, Halyard, Heba, hierarchy, honor, Horn, Hydra, identical, identification, Ike, increasingly, ineffective, infield, InJohnson, inquiry, inRegulation, insatiable, instance, Intermediate, interstate, Iron, Kalabsha, lag, Lastly, legacy, lender, Lloyd, LNG, logged, longevity, Longford, lowest, macroeconomic, mapping, Mendoza, Mercantile, metal, mid, misleading, mixture, mortgage, Mountain, Mungaroo, necessitated, nonforfeitable, nontraditional, NOPSA, Norte, northeastern, notable, notably, NOVA, Obayed, obligor, occupational, OCI, offline, optimum, oral, orderly, overdraft, overlying, Pacific, parent, Parliament, path, payout, peak, peaked, Perla, perspective, possession, precipitated, precipitously, premature, prioritizing, procurement, pull, pure, PVG, Ranquil, rapidly, real, recession, recipient, recommenced, recurring, redetermined, reestablished, regime, reinstate, reinstated, released, ReleaseNo, remeasured, residential, retraction, Ridge, River, root, RSU, Safa, Sara, Sebastian, Senate, sharply, shortage, Shushan, shut, Sino, sizeable, slowdown, spite, stalled, step, storm, strict, successfully, sudden, suffered, Sultan, TCPL, temporarily, terminology, thought, threatened, tier, timber, TransCanada, Triassic, unadjusted, unaffected, uncontrollable, underpin, underpinned, unemployment, unevaluated, unobservable, unprecedented, validate, validation, validity, Veintinueve, Victoria, voluntarily, VSC, westernmost, wiling, wrapping

Removed: accommodate, accrue, achieving, adjusting, al, alter, analyze, bargaining, Bcfe, blame, check, chemical, Chinese, collective, compare, comply, concentrate, connected, consistently, continuation, continuously, contributor, Conversely, creating, creditworthy, delinquent, deliverability, dismissed, Disposal, distributed, district, double, downhole, dramatic, dynamic, efficient, Employer, enabling, executed, expand, expanded, expensing, exportable, exporting, extractive, Exxon, ExxonMobil, filer, geology, growing, handling, Hatton, inextricably, injection, insure, issuer, knowledge, leading, manner, mark, minimize, MMcf, MMcfe, Mobil, modified, motion, Nonproducing, OPIC, owed, preceding, predominate, prescribed, projection, prolonged, proven, Qasr, reflection, regulating, relationship, relinquishment, repay, repayment, replaced, risen, scope, scrutinized, seasoned, sector, sensitivity, shrink, size, Stag, statutorily, Tarek, targeting, technical, tightly, Timbalier, timetable, today, trillion, upfront, verified, weaker, wide, Windfall

Search this filing

Filing tables

Export all tables to Excel

Filing exhibits

Related press release

Apache similar filings

Filing view

Default size S M L
Default font Times Arial

External links

Share this filing

EXHIBIT 12.1

APACHE CORPORATION
STATEMENT OF COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
AND COMBINED FIXED CHARGES, PREFERRED STOCK DIVIDENDS
AND PREFERRED INTERESTS OF SUBSIDIARIES
(In thousands, except ratio data)


(Unaudited)	2008		2007		2006		2005		2004
EARNINGS
Pretax income from continuing operations before preferred interests of subsidiaries (5)	$	932,392	$	4,672,612	$	4,009,595	$	4,206,254	$	2,663,083
Add: Fixed charges excluding capitalized interest and preferred interests requirements of consolidated subsidiaries (5)		214,288		258,221		178,399		138,399		134,797


Adjusted Earnings	$	1,146,680	$	4,930,833	$	4,187,994	$	4,344,653	$	2,797,880


FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
Interest expense including capitalized interest (1)	$	280,457	$	308,235	$	217,454	$	175,419	$	168,090
Amortization of debt expense		3,689		3,310		2,048		3,748		2,471
Interest component of lease rental expenditures (2)		24,306		22,424		20,198		16,220		14,984

Fixed charges		308,452		333,969		239,700		195,387		185,545

Preferred stock dividend requirements (4)		7,438		9,437		8,922		9,105		9,058


Combined Fixed Charges and Preferred Stock Dividends	$	315,890	$	343,406	$	248,622	$	204,492	$	194,603


Ratio of Earnings to Fixed Charges		3.72		14.76		17.47		22.24		15.08


Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends		3.63		14.36		16.84		21.25		14.38


(1)		The Company did not receive a tax benefit for $5 million of transaction costs written off to interest expense when the Company retired its preferred interests of subsidiaries in September 2003. Given the non-deductibility of the charge, $9 million of pre-tax income was required to cover the $5 million write-off. Accordingly, interest expense has been grossed up by $4 million.

(2)		Represents the portion of rental expense assumed to be attributable to interest factors of related rental obligations determined at interest rates appropriate for the period during which the rental obligations were incurred. Approximately 32 to 34 percent of rental payments applies for all periods presented.

(3)		The Company did not receive a tax benefit for a portion of its preferred interests of consolidated subsidiaries. This amount represents the pre-tax earnings that would be required to cover preferred interests requirements of consolidated subsidiaries. In September 2003, the Company retired its preferred interests of subsidiaries.

(4)		The Company does not receive a tax benefit for its preferred stock dividends. This amount represents the pre-tax earnings that would be required to cover its preferred stock dividends.

(5)		Interest expense on our FIN 48 liability is a component of income tax expense and it is not included in the calculation of earnings to fixed charges.