APA · 8-K · 20260805PR000050

Income Tax Rate Changes

APA Corp · 2026-08-05 · Importance 48 · Surprise 30

Second-quarter current income tax expense was $234 million, essentially unchanged from $232 million despite a 24% increase in net income before taxes to $1.277 billion. Deferred income tax expense increased 65% to $216 million from $131 million. Total income tax provision increased to $450 million from $363 million, raising the implied effective tax rate to approximately 35.2% from 35.3%, while the six-month implied rate declined to approximately 35.0% from 39.5%.