APA Corp [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19
	10-K	10-K	10-K	10-K
Total revenues	-114	94	-223	0
Revenue growth	-221.3%	-142.2%
Cost of goods sold	-268	204	-123	207
Gross profit	154	-110	-100	-207
Gross margin	-135.1%	-117.0%	44.8%
Selling, general and administrative [+]	483	376	290	406
General and administrative	483	376	290	406
Other operating expenses [+]	-9,052	3,800	-15,674	-3,152
Exploration expenses	305	155	274	805
EBITDA [+]	8,723	-4,286	15,284	2,539
EBITDA growth	-303.5%	-128.0%	502.0%
EBITDA margin	-7651.8%	-4559.6%	-6853.8%
Depreciation and amortization	1,233	1,360	1,772	2,680
EBIT [+]	7,490	-5,646	13,512	-141
EBIT growth	-232.7%	-141.8%	-9683.0%
EBIT margin	-6570.2%	-6006.4%	-6059.2%
Non-recurring items [+]	1,206	297	4,587	2,999
Asset impairment		208	4,501	2,949
Loss (gain) on sale of business	1,180	67	32
Interest expense, net [+]	-10	-8	-7	-13
Interest expense	332	419	438	430
Interest income	10	8	7	13
Other income (expense), net [+]	-228	8,245	-13,334	549
Gain (loss) on sale of business				43
Unrealized gain/loss on derivatives				-35
Other				54
Pre-tax income	5,734	1,891	-4,840	-3,008
Income taxes	1,652	578	64	674
Tax rate	28.8%	30.6%
Net income	3,674	973	-4,860	-3,553
Net margin	-3222.8%	1035.1%	2179.4%

Basic EPS [+]	$11.07	$2.60	($12.86)	($9.42)
Growth	325.4%	-120.2%	36.4%
Diluted EPS [+]	$11.03	$2.59	($12.86)	($9.42)
Growth	325.2%	-120.2%	36.4%

Dividends per share [+]	$0.75	$0.24	$0.10	$1.00
Growth	215.8%	137.5%	-90.0%

Shares outstanding (basic) [+]	332	374	378	377
Growth	-11.2%	-1.1%	0.3%
Shares outstanding (diluted) [+]	333	375	378	377
Growth	-11.2%	-0.8%	0.3%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.