Company Quick10K Filing
Quick10K
Apache
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$21.63 376 $8,131
10-Q 2019-09-30 Quarter: 2019-09-30
10-Q 2019-06-30 Quarter: 2019-06-30
10-Q 2019-03-31 Quarter: 2019-03-31
10-K 2018-12-31 Annual: 2018-12-31
10-Q 2018-09-30 Quarter: 2018-09-30
10-Q 2018-06-30 Quarter: 2018-06-30
10-Q 2018-03-31 Quarter: 2018-03-31
10-K 2017-12-31 Annual: 2017-12-31
10-Q 2017-09-30 Quarter: 2017-09-30
10-Q 2017-06-30 Quarter: 2017-06-30
10-Q 2017-03-31 Quarter: 2017-03-31
10-K 2016-12-31 Annual: 2016-12-31
10-Q 2016-09-30 Quarter: 2016-09-30
10-Q 2016-06-30 Quarter: 2016-06-30
10-Q 2016-03-31 Quarter: 2016-03-31
10-K 2015-12-31 Annual: 2015-12-31
10-Q 2015-09-30 Quarter: 2015-09-30
10-Q 2015-06-30 Quarter: 2015-06-30
10-Q 2015-03-31 Quarter: 2015-03-31
10-K 2014-12-31 Annual: 2014-12-31
10-Q 2014-09-30 Quarter: 2014-09-30
10-Q 2014-06-30 Quarter: 2014-06-30
10-Q 2014-03-31 Quarter: 2014-03-31
10-K 2013-12-31 Annual: 2013-12-31
8-K 2019-10-30 Earnings, Exhibits
8-K 2019-07-31 Earnings, Exhibits
8-K 2019-06-05 Enter Agreement, Exhibits
8-K 2019-05-23 Shareholder Vote
8-K 2019-05-01 Earnings, Exhibits
8-K 2019-02-27 Earnings, Exhibits
8-K 2019-02-04 Officers
8-K 2019-01-03 Officers, Exhibits
8-K 2018-10-31 Earnings, Exhibits
8-K 2018-08-14 Enter Agreement, Exhibits
8-K 2018-08-08 Other Events, Exhibits
8-K 2018-08-01 Earnings, Exhibits
8-K 2018-05-24 Shareholder Vote
8-K 2018-04-16 Officers
8-K 2018-03-14 Enter Agreement, Off-BS Arrangement, Exhibits
8-K 2018-02-22 Earnings, Exhibits
8-K 2018-02-08 Officers
8-K 2018-01-16 Officers, Exhibits
FANG Diamondback Energy 15,397
TPL Texas Pacific Land Trust 4,935
CPK Chesapeake Utilities 1,546
TALO Talos Energy 1,012
DMLP Dorchester Minerals 608
CHAP Chaparral Energy 70
MCEP Mid-Con Energy Partners 13
GBR New Concept Energy 8
PRT Permrock Royalty Trust 0
SBR Sabine Royalty Trust 0
APA 2019-09-30
Part I - Financial Information
Item 1 - Financial Statements
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3 - Quantitative and Qualitative Disclosures About Market Risk
Item 4 - Controls and Procedures
Part II - Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 5. Other Information
Item 6. Exhibits
EX-3.3 apaq32019ex33.htm
EX-31.1 apaq32019ex311.htm
EX-31.2 apaq32019ex312.htm
EX-32.1 apaq32019ex321.htm

Apache Earnings 2019-09-30

APA 10Q Quarterly Report

Balance SheetIncome StatementCash Flow

Document
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 

FORM 10-Q 
(Mark One)  
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2019
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from                      to                     
Commission File Number: 1-4300
APACHE CORPORATION
(Exact name of registrant as specified in its charter)
Delaware
41-0747868
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification No.)
One Post Oak Central, 2000 Post Oak Boulevard, Suite 100, Houston, Texas 77056-4400
(Address of principal executive offices) (Zip Code)
(713) 296-6000
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
 
Trading Symbol(s)
 
Name of each exchange on which registered
Common Stock, $0.625 par value
 
APA
 
New York Stock Exchange
Common Stock, $0.625 par value
 
APA
 
Chicago Stock Exchange
Common Stock, $0.625 par value
 
APA
 
NASDAQ Global Select Market
7.75% Notes Due 2029
 
APA/29
 
New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes      No  
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes      No  
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer
 
Accelerated filer
 
Non-accelerated filer
 
 
Smaller reporting company
 
 
 
 
Emerging growth company
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes      No  
Number of shares of registrant’s common stock outstanding as of October 30, 2019
376,036,287




 
TABLE OF CONTENTS
 
DESCRIPTION
Item
 
 
Page
 
PART I - FINANCIAL INFORMATION
 
 
1.
 
 
 
 
 
 
 
 
 
 
 
 
 
2.
 
3.
 
4.
 
 
PART II - OTHER INFORMATION
 
 
1.
 
1A.
 
2.
 
5.
 
6.
 



Forward-Looking Statements and Risk
This report includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included or incorporated by reference in this report, including, without limitation, statements regarding our future financial position, business strategy, budgets, projected revenues, projected costs, and plans and objectives of management for future operations, are forward-looking statements. Such forward-looking statements are based on our examination of historical operating trends, the information that was used to prepare our estimate of proved reserves as of December 31, 2018, and other data in our possession or available from third parties. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “will,” “could,” “expect,” “intend,” “project,” “estimate,” “anticipate,” “plan,” “believe,” or “continue” or similar terminology. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from our expectations include, but are not limited to, our assumptions about:
 
the market prices of oil, natural gas, natural gas liquids (NGLs), and other products or services;

commodity hedging arrangements;

the supply and demand for oil, natural gas, NGLs, and other products or services;

production and reserve levels;

drilling risks;

economic and competitive conditions;

the availability of capital resources;

capital expenditure and other contractual obligations;

currency exchange rates;

weather conditions;

inflation rates;

the availability of goods and services;

legislative, regulatory, or policy changes;

terrorism or cyber attacks;

occurrence of property acquisitions or divestitures;

the integration of acquisitions;

the securities or capital markets and related risks such as general credit, liquidity, market, and interest-rate risks; and

other factors disclosed under Items 1 and 2—Business and Properties—Estimated Proved Reserves and Future Net Cash Flows, Item 1A—Risk Factors, Item 7—Management’s Discussion and Analysis of Financial Condition and Results of Operations, Item 7A—Quantitative and Qualitative Disclosures About Market Risk and elsewhere in our most recently filed Annual Report on Form 10-K, other risks and uncertainties in our third-quarter 2019 earnings release, other factors disclosed under Part II, Item 1A—Risk Factors of this Quarterly Report on Form 10-Q, and other filings that we make with the Securities and Exchange Commission.
All subsequent written and oral forward-looking statements attributable to the Company, or persons acting on its behalf, are expressly qualified in their entirety by the cautionary statements. We assume no duty to update or revise our forward-looking statements based on changes in internal estimates or expectations or otherwise.





PART I – FINANCIAL INFORMATION
ITEM 1 – FINANCIAL STATEMENTS
APACHE CORPORATION AND SUBSIDIARIES
STATEMENT OF CONSOLIDATED OPERATIONS
(Unaudited)
 
 
For the Quarter Ended September 30,
 
For the Nine Months Ended September 30,
 
 
2019
 
2018
 
2019
 
2018
 
 
(In millions, except per common share data)
REVENUES AND OTHER:
 
 
 
 
 
 
 
 
Oil and gas production revenues
 
 
 
 
 
 
 
 
Oil revenues
 
$
1,207

 
$
1,555

 
$
3,914

 
$
4,524

Natural gas revenues
 
136

 
241

 
490

 
675

Natural gas liquids revenues
 
95

 
180

 
286

 
446

 
 
1,438

 
1,976

 
4,690

 
5,645

Derivative instrument losses, net
 
(2
)
 
(23
)
 
(40
)
 
(46
)
Gain on divestitures
 

 
1

 
20

 
10

Other
 
41

 
29

 
45

 
50

 
 
1,477

 
1,983

 
4,715

 
5,659

OPERATING EXPENSES:
 
 
 
 
 
 
 
 
Lease operating expenses
 
350

 
382

 
1,104

 
1,087

Gathering, processing, and transmission
 
66

 
92

 
230

 
260

Taxes other than income
 
44

 
58

 
141

 
162

Exploration
 
56

 
99

 
220

 
251

General and administrative
 
98

 
99

 
323

 
330

Transaction, reorganization, and separation
 
7

 
8

 
17

 
20

Depreciation, depletion, and amortization
 
711

 
610

 
1,959

 
1,771

Asset retirement obligation accretion
 
27

 
27

 
80

 
81

Impairments
 
9

 
10

 
249

 
10

Financing costs, net
 
95

 
192

 
365

 
385

 
 
1,463

 
1,577

 
4,688

 
4,357

NET INCOME BEFORE INCOME TAXES
 
14

 
406

 
27

 
1,302

Current income tax provision
 
141

 
262

 
514

 
709

Deferred income tax benefit
 
(10
)
 
(17
)
 
(52
)
 
(43
)
NET INCOME (LOSS) INCLUDING NONCONTROLLING INTERESTS
 
(117
)
 
161

 
(435
)
 
636

Net income attributable to noncontrolling interest - Egypt
 
38

 
80

 
125

 
215

Net loss attributable to noncontrolling interest - Altus
 
(3
)
 

 
(5
)
 

Net income attributable to Altus Preferred Unit limited partners
 
18

 

 
22

 

NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK
 
$
(170
)
 
$
81

 
$
(577
)
 
$
421

 
 
 
 
 
 
 
 
 
NET INCOME (LOSS) PER COMMON SHARE:
 
 
 
 
 
 
 
 
Basic
 
$
(0.45
)
 
$
0.21

 
$
(1.53
)
 
$
1.10

Diluted
 
$
(0.45
)
 
$
0.21

 
$
(1.53
)
 
$
1.09

WEIGHTED-AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:
 
 
 
 
 
 
 
 
Basic
 
377

 
383

 
377

 
383

Diluted
 
377

 
385

 
377

 
385


The accompanying notes to consolidated financial statements
are an integral part of this statement.

1



APACHE CORPORATION AND SUBSIDIARIES
STATEMENT OF CONSOLIDATED COMPREHENSIVE INCOME (LOSS)
(Unaudited)
 
 
 
For the Quarter Ended September 30,
 
For the Nine Months Ended September 30,
 
 
2019
 
2018
 
2019
 
2018
 
 
(In millions)
NET INCOME (LOSS) INCLUDING NONCONTROLLING INTERESTS
 
$
(117
)
 
$
161

 
$
(435
)
 
$
636

OTHER COMPREHENSIVE LOSS, NET OF TAX:
 
 
 
 
 
 
 
 
Share of equity method interests other comprehensive loss
 
(1
)
 

 
(1
)
 

COMPREHENSIVE INCOME (LOSS) INCLUDING NONCONTROLLING INTERESTS
 
(118
)
 
161

 
(436
)
 
636

Comprehensive income attributable to noncontrolling interest - Egypt
 
38

 
80

 
125

 
215

Comprehensive loss attributable to noncontrolling interest - Altus
 
(3
)
 

 
(5
)
 

Comprehensive income attributable to Altus Preferred Unit limited partners
 
18

 

 
22

 

COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK
 
$
(171
)
 
$
81

 
$
(578
)
 
$
421


The accompanying notes to consolidated financial statements
are an integral part of this statement.

2



APACHE CORPORATION AND SUBSIDIARIES
STATEMENT OF CONSOLIDATED CASH FLOWS
(Unaudited)
 
 
For the Nine Months Ended September 30,
 
 
2019
 
2018
 
 
(In millions)
CASH FLOWS FROM OPERATING ACTIVITIES:
 
 
 
 
Net income (loss) including noncontrolling interest
 
$
(435
)
 
$
636

Adjustments to reconcile net income (loss) to net cash provided by operating activities:
 
 
 
 
Unrealized derivative instrument losses (gains), net
 
52

 
(88
)
Gain on divestitures
 
(20
)
 
(10
)
Exploratory dry hole expense and unproved leasehold impairments
 
107

 
133

Depreciation, depletion, and amortization
 
1,959

 
1,771

Asset retirement obligation accretion
 
80

 
81

Impairments
 
249

 
10

Deferred income tax benefit
 
(52
)
 
(43
)
Loss on extinguishment of debt
 
75

 
94

Other
 
35

 
96

Changes in operating assets and liabilities:
 
 
 
 
Receivables
 
124

 
(113
)
Inventories
 
(16
)
 
(7
)
Drilling advances
 
(2
)
 
(22
)
Deferred charges and other
 
(1
)
 
91

Accounts payable
 
(82
)
 
110

Accrued expenses
 
(1
)
 
(3
)
Deferred credits and noncurrent liabilities
 
17

 
(2
)
NET CASH PROVIDED BY OPERATING ACTIVITIES
 
2,089

 
2,734

 
 
 
 
 
CASH FLOWS FROM INVESTING ACTIVITIES:
 
 
 
 
Additions to oil and gas property
 
(2,015
)
 
(2,338
)
Leasehold and property acquisitions
 
(39
)
 
(86
)
Additions to Altus gathering, processing, and transmission facilities
 
(294
)
 
(412
)
Altus equity method interests
 
(1,008
)
 

Proceeds from sale of oil and gas properties
 
590

 
51

Other, net
 
(17
)
 
(55
)
NET CASH USED IN INVESTING ACTIVITIES
 
(2,783
)
 
(2,840
)
 
 
 
 
 
CASH FLOWS FROM FINANCING ACTIVITIES:
 
 
 
 
Proceeds from Altus credit facility
 
235

 

Fixed-rate debt borrowings
 
989

 
992

Payments on fixed-rate debt
 
(1,150
)
 
(1,370
)
Distributions to noncontrolling interest - Egypt
 
(235
)
 
(256
)
Redeemable noncontrolling interest - Altus Preferred Unit limited partners
 
611

 

Dividends paid
 
(282
)
 
(287
)
Other
 
(25
)
 
(48
)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES
 
143

 
(969
)
 
 
 
 
 
NET DECREASE IN CASH AND CASH EQUIVALENTS
 
(551
)
 
(1,075
)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR
 
714

 
1,668

CASH AND CASH EQUIVALENTS AT END OF PERIOD
 
$
163

 
$
593

 
 
 
 
 
SUPPLEMENTARY CASH FLOW DATA:
 
 
 
 
Interest paid, net of capitalized interest
 
$
318

 
$
344

Income taxes paid, net of refunds
 
473

 
649


The accompanying notes to consolidated financial statements
are an integral part of this statement.

3



APACHE CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET
(Unaudited)
In millions except share and per-share amounts
 
September 30, 2019
 
December 31, 2018
ASSETS
 
 
 
 
CURRENT ASSETS:
 
 
 
 
Cash and cash equivalents ($3 and $450 related to Altus VIE)
 
$
163

 
$
714

Receivables (net of allowance of $86 and $92)
 
1,070

 
1,194

Other current assets (Note 5) ($35 and $7 related to Altus VIE)
 
738

 
779

 
 
1,971

 
2,687

PROPERTY AND EQUIPMENT:
 
 
 
 
Oil and gas, on the basis of successful efforts accounting:
 
 
 
 
Proved properties
 
40,114

 
42,345

Unproved properties and properties under development
 
1,256

 
1,435

Gathering, processing, and transmission facilities ($1,457 and $1,251 related to Altus VIE)
 
2,061

 
1,856

Other ($38 and nil related to Altus VIE)
 
1,177

 
1,120

 
 
44,608

 
46,756

Less: Accumulated depreciation, depletion, and amortization ($52 and $24 related to Altus VIE)
 
(26,953
)
 
(28,335
)
 
 
17,655

 
18,421

OTHER ASSETS:
 
 
 
 
Equity method interests ($1,095 and $91 related to Altus VIE)
 
1,095

 
121

Deferred charges and other ($73 and $71 related to Altus VIE)
 
684

 
353

 
 
$
21,405

 
$
21,582

LIABILITIES, NONCONTROLLING INTEREST, AND EQUITY
 
 
 
 
CURRENT LIABILITIES:
 
 
 
 
Accounts payable
 
$
661

 
$
709

Current debt ($18 and nil related to Altus VIE)
 
19

 
151

Other current liabilities (Note 7) ($38 and $85 related to Altus VIE)
 
1,241

 
1,341

 
 
1,921

 
2,201

LONG-TERM DEBT (Note 10) ($235 and nil related to Altus VIE)
 
8,393

 
8,093

DEFERRED CREDITS AND OTHER NONCURRENT LIABILITIES:
 
 
 
 
Income taxes
 
340

 
391

Asset retirement obligation ($34 and $29 related to Altus VIE)
 
1,853

 
1,866

Other ($98 and nil related to Altus VIE)
 
491

 
219

 
 
2,684

 
2,476

COMMITMENTS AND CONTINGENCIES (Note 11)
 

 

 
 
 
 
 
REDEEMABLE NONCONTROLLING INTEREST - ALTUS PREFERRED UNIT LIMITED PARTNERS (Note 12)
 
539

 

 
 
 
 
 
EQUITY:
 
 
 
 
Common stock, $0.625 par, 860,000,000 shares authorized, 416,986,332 and 415,692,116 shares issued, respectively
 
261

 
260

Paid-in capital
 
11,852

 
12,106

Accumulated deficit
 
(2,625
)
 
(2,048
)
Treasury stock, at cost, 40,964,193 and 40,995,894 shares, respectively
 
(3,190
)
 
(3,192
)
Accumulated other comprehensive income
 
3

 
4

APACHE SHAREHOLDERS’ EQUITY
 
6,301

 
7,130

Noncontrolling interest - Egypt
 
1,165

 
1,275

Noncontrolling interest - Altus
 
402

 
407

TOTAL EQUITY
 
7,868

 
8,812

 
 
$
21,405

 
$
21,582


The accompanying notes to consolidated financial statements are an integral part of this statement.

4



APACHE CORPORATION AND SUBSIDIARIES
STATEMENT OF CONSOLIDATED CHANGES IN EQUITY AND NONCONTROLLING INTEREST
(Unaudited)
 
 
 
Redeemable Noncontrolling Interest — Altus Preferred Unit Limited Partners
 
 
Common
Stock
 
Paid-In
Capital
 
Accumulated Deficit
 
Treasury
Stock
 
Accumulated
Other
Comprehensive
Income (Loss)
 
APACHE
SHAREHOLDERS’
EQUITY
 
Noncontrolling
Interests
 
TOTAL
EQUITY
 
 
 
 
 
(In millions)
For the Quarter Ended September 30, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
BALANCE AT JUNE 30, 2018
 
$

 
 
$
260

 
$
12,011

 
$
(1,748
)
 
$
(2,887
)
 
$
4

 
$
7,640

 
$
1,355

 
$
8,995

Net income attributable to common stock
 

 
 

 

 
81

 

 

 
81

 

 
81

Net income attributable to noncontrolling interest - Egypt
 

 
 

 

 

 

 

 

 
80

 
80

Distributions to noncontrolling interest - Egypt
 

 
 

 

 

 

 

 

 
(101
)
 
(101
)
Common dividends ($0.25 per share)
 

 
 

 
(96
)
 

 

 

 
(96
)
 

 
(96
)
Other
 

 
 

 
30

 

 
(43
)
 

 
(13
)
 

 
(13
)
BALANCE AT SEPTEMBER 30, 2018
 
$

 
 
$
260

 
$
11,945

 
$
(1,667
)
 
$
(2,930
)
 
$
4

 
$
7,612

 
$
1,334

 
$
8,946

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the Quarter Ended September 30, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
BALANCE AT JUNE 30, 2019
 
$
521

 
 
$
261

 
$
11,931

 
$
(2,455
)
 
$
(3,190
)
 
$
4

 
$
6,551

 
$
1,603

 
$
8,154

Net loss attributable to common stock
 

 
 

 

 
(170
)
 

 

 
(170
)
 

 
(170
)
Net income attributable to noncontrolling interest - Egypt
 

 
 

 

 

 

 

 

 
38

 
38

Net loss attributable to noncontrolling interest - Altus
 

 
 

 

 

 

 

 

 
(3
)
 
(3
)
Net income attributable to Altus Preferred Unit limited partners
 
18

 
 

 

 

 

 

 

 

 

Distributions to noncontrolling interest - Egypt
 

 
 

 

 

 

 

 

 
(71
)
 
(71
)
Common dividends ($0.25 per share)
 

 
 

 
(94
)
 

 

 

 
(94
)
 

 
(94
)
Other
 

 
 

 
15

 

 

 
(1
)
 
14

 

 
14

BALANCE AT SEPTEMBER 30, 2019
 
$
539

 
 
$
261

 
$
11,852

 
$
(2,625
)
 
$
(3,190
)
 
$
3

 
$
6,301

 
$
1,567

 
$
7,868


The accompanying notes to consolidated financial statements
are an integral part of this statement.



5



APACHE CORPORATION AND SUBSIDIARIES
STATEMENT OF CONSOLIDATED CHANGES IN EQUITY AND NONCONTROLLING INTEREST – (Continued)
(Unaudited)

 
 
Redeemable Noncontrolling Interest — Altus Preferred Unit Limited Partners
 
 
Common
Stock
 
Paid-In
Capital
 
Accumulated Deficit
 
Treasury
Stock
 
Accumulated
Other
Comprehensive
Income (Loss)
 
APACHE
SHAREHOLDERS’
EQUITY
 
Noncontrolling
Interests
 
TOTAL
EQUITY
 
 
 
 
 
(In millions)
For the Nine Months Ended September 30, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
BALANCE AT DECEMBER 31, 2017
 
$

 
 
$
259

 
$
12,128

 
$
(2,088
)
 
$
(2,887
)
 
$
4

 
$
7,416

 
$
1,375

 
$
8,791

Net income attributable to common stock
 

 
 

 

 
421

 

 

 
421

 

 
421

Net income attributable to noncontrolling interest - Egypt
 

 
 

 

 

 

 

 

 
215

 
215

Distributions to noncontrolling interest - Egypt
 

 
 

 

 

 

 

 

 
(256
)
 
(256
)
Common dividends ($0.75 per share)
 

 
 

 
(287
)
 

 

 

 
(287
)
 

 
(287
)
Other
 

 
 
1

 
104

 

 
(43
)
 

 
62

 

 
62

BALANCE AT SEPTEMBER 30, 2018
 
$

 
 
$
260

 
$
11,945

 
$
(1,667
)
 
$
(2,930
)
 
$
4

 
$
7,612

 
$
1,334

 
$
8,946

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the Nine Months Ended September 30, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
BALANCE AT DECEMBER 31, 2018
 
$

 
 
$
260

 
$
12,106

 
$
(2,048
)
 
$
(3,192
)
 
$
4

 
$
7,130

 
$
1,682

 
$
8,812

Net loss attributable to common stock
 

 
 

 

 
(577
)
 

 

 
(577
)
 

 
(577
)
Net income attributable to noncontrolling interest - Egypt
 

 
 

 

 

 

 

 

 
125

 
125

Net loss attributable to noncontrolling interest - Altus
 

 
 

 

 

 

 

 

 
(5
)
 
(5
)
Issuance of Altus Preferred Units
 
517

 
 

 

 

 

 

 

 

 

Net income attributable to Altus Preferred Unit limited partners
 
22

 
 

 

 

 

 

 

 

 

Distributions to noncontrolling interest - Egypt
 

 
 

 

 

 

 

 

 
(235
)
 
(235
)
Common dividends ($0.75 per share)