APACHE CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued) The Company recognizes over the requisite service period the fair value cost determined at the grant date based on numerous assumptions, including an estimate of the likelihood that Apache’s stock price will achieve these thresholds and the expected forfeiture rate.
If a price target is not met before the end of the stated achievement period, any unamortized expense must be immediately recognized.
Since the $162 interim price target of the 2008 Share Appreciation Program was not met prior to the stated achievement period, on December 31, 2010, Apache recognized $27 million of unamortized expense and $14 million of unamortized capital costs.
The Company will recognize total expense and capitalized costs for the 2008 Share Appreciation Program of approximately $188 million through 2014.
As of March 2011, the Company had recognized $79 million of total expense and capitalized costs for the 2005 Share Appreciation Program and had no unamortized costs remaining.
A summary of the amounts recognized as expense and capitalized costs for each plan are detailed in the table below:
## Table 0 ##
Preferred Stock The Company has 10,000,000 shares of no par preferred stock authorized, of which 25,000 shares have been designated as Series A Junior Participating Preferred Stock (the Series A Preferred Stock) and 1.265 million shares as 6.00-percent Mandatory Convertible Preferred Stock, Series D (the Series D Preferred Stock).
The Company redeemed the 100,000 outstanding shares of its 5.68 percent Series B Cumulative Preferred Stock (the Series B Preferred Stock) on December 30, 2009.
Series A Preferred Stock In December 1995, the Company declared a dividend of one right (a Right) for each 2.31 shares (adjusted for subsequent stock dividends and a two-for-one stock split) of Apache common stock outstanding on January 31, 1996.
Each full Right entitles the registered holder to purchase from the Company one ten-thousandth (1/10,000) of a share of Series A Preferred Stock at a price of $100 per one ten-thousandth of a share, subject to adjustment.
The Rights are exercisable 10 calendar days following a public announcement that certain persons or groups have acquired 20 percent or more of the outstanding shares of Apache common stock or 10 business days following commencement of an offer for 30 percent or more of the outstanding shares of Apache’s outstanding common stock (flip in event); each Right will become exercisable for shares of Apache’s common stock at 50 percent of the then-market price of the common stock.
If a 20-percent shareholder of Apache acquires Apache, by merger or otherwise, in a transaction where Apache does not survive or in which Apache’s common stock is changed or exchanged (flip over event), the Rights become exercisable for shares of the common stock of the Company acquiring Apache at 50 percent of the then-market price for Apache common stock.
Any Rights that are or were beneficially owned by a person who has acquired 20 percent or more of the outstanding shares of Apache common stock and who engages in certain transactions or realizes the benefits of
Shareholder Information Stock Data
## Table 1 ##
The Company has paid cash dividends on its common stock for 47 consecutive years through December 31, 2011.
Future dividend payments will depend upon the Company’s level of earnings, financial requirements and other relevant factors.
Apache common stock is listed on the New York and Chicago stock exchanges and the NASDAQ National Market (symbol APA).
At December 31, 2011, the Company’s shares of common stock outstanding were held by approximately 5,600 shareholders of record and 444,000 beneficial owners.
Also listed on the New York Stock Exchange are: ?
Apache Depositary Shares (symbol APA/PD), each representing a 1/20th interest in Apache’s 6% Mandatory Convertible Preferred Stock, Series D ?
Apache Finance Canada’s 7.75% notes, due 2029 (symbol APA/29) Corporate Offices One Post Oak Central 2000 Post Oak Boulevard Suite 100 Houston, Texas 77056-4400 (713) 296-6000 Independent Public Accountants Ernst & Young LLP Five Houston Center 1401 McKinney Street, Suite 1200 Houston, Texas 77010-2007 Stock Transfer Agent and Registrar Wells Fargo Bank, N. A.  Attn: Shareowner Services P. O.
Box 64854 South St.  Paul, Minnesota 55164-0854 (651) 450-4064 or (800) 468-9716 Communications concerning the transfer of shares, lost certificates, dividend checks, duplicate mailings, or change of address should be directed to the stock transfer agent.
Shareholders can access account information on the web site: www.
shareowneronline.
com Dividend Reinvestment Plan Shareholders of record may invest their dividends automatically in additional shares of Apache common stock at the market price.
Participants may also invest up to an additional $25,000 in Apache shares each quarter through this service.
All bank service fees and brokerage commissions on purchases are paid by Apache.
A prospectus describing the terms of the Plan and an authorization form may be obtained from the Company’s stock transfer agent, Wells Fargo Bank, N. A.
Direct Registration Shareholders of record may hold their shares of Apache common stock in book-entry form.
This eliminates costs related to safekeeping or replacing paper stock certificates.
In addition, shareholders of record may request electronic movement of book-entry shares between your account with the Company’s stock transfer agent and your broker.
Stock certificates may be converted to book-entry shares at any time.
Questions regarding this service may be directed to the Company’s stock transfer agent, Wells Fargo Bank, N. A.
Annual Meeting Apache will hold its annual meeting of shareholders on Thursday, May 24, 2012, at 10:00 a. m.  in the Ballroom, Hilton Houston Post Oak, 2001 Post Oak Boulevard, Houston, Texas.
Apache plans to web cast the annual meeting live; connect through the Apache web site: www.
apachecorp.
com Stock Held in “Street Name” The Company maintains a direct mailing list to ensure that shareholders with stock held in brokerage accounts receive information on a timely basis.
Shareholders wanting to be added to this list should direct their requests to Apache’s Public and International Affairs Department, 2000 Post Oak Boulevard, Suite 100, Houston, Texas, 77056-4400, by calling (713) 296-6157 or by registering on Apache’s web site: www.
apachecorp.
com Form 10-K Request Shareholders and other persons interested in obtaining, without cost, a copy of the Company’s Form 10-K filed with the Securities and Exchange Commission may do so by writing to Cheri L.  Peper, Corporate Secretary, 2000 Post Oak Boulevard, Suite 100, Houston, Texas, 77056-4400.
Investor Relations Shareholders, brokers, securities analysts, or portfolio managers seeking information about the Company are welcome to contact Patrick Cassidy, Investor Relations Director, at (713) 296-6100.
Members of the news media and others seeking information about the Company should contact Apache’s Public and International Affairs Department at (713) 296-7276.
Web site: www.
apachecorp.
com
APACHE CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued) There are numerous uncertainties inherent in estimating quantities of proved reserves and projecting future rates of production and timing of development expenditures.
The reserve data in the following tables only represent estimates and should not be construed as being exact.
## Table 2 ##
(1) 2013 includes proved reserves of 45 MMbbls as of December 31, 2013 attributable to a noncontrolling interest in Egypt.
until the hedged transaction is recognized in earnings.
Changes in the fair value of the derivatives that are attributable to the ineffective portion of the hedges, or of derivatives that are not considered to be highly effective hedges, if any, are immediately recognized in earnings.
The aggregate notional amount of our outstanding foreign currency hedges at December 31, 2012 and 2011 was $1.3 billion and $1.7 billion.
The aggregate notional amount of our outstanding interest rate swaps at December 31, 2012 and 2011 was $503 million and $450 million.
Derivative instruments did not have a material impact on net earnings and comprehensive income during 2012, 2011, and 2010.
Substantially all of our derivatives are designated for hedge accounting.
See Note 15 for more information on the fair value measurements related to our derivative instruments.
Stock-based compensation – Compensation cost related to all share-based payments including stock options and restricted stock units is measured at the grant date based on the estimated fair value of the award.
We generally recognize the compensation cost ratably over a three-year vesting period.
Income taxes – We periodically assess our tax filing exposures related to periods that are open to examination.
Based on the latest available information, we evaluate our tax positions to determine whether the position will more likely than not be sustained upon examination by the Internal Revenue Service (IRS).
If we cannot reach a more-likely-than-not determination, no benefit is recorded.
If we determine that the tax position is more likely than not to be sustained, we record the largest amount of benefit that is more likely than not to be realized when the tax position is settled.
We record interest and penalties related to income taxes as a component of income tax expense on our Statements of Earnings.
Interest and penalties are not material.
Accumulated other comprehensive loss – Changes in the balance of accumulated other comprehensive loss, net of income taxes, consisted of the following (in millions):

<table><tr><td></td><td colspan="3"> For the Year Ended December 31,</td></tr><tr><td></td><td> 2011</td><td> 2010</td><td> 2009</td></tr><tr><td></td><td colspan="3"> (In millions)</td></tr><tr><td> 2008 Share Appreciation Program</td><td></td><td></td><td></td></tr><tr><td>Compensation expense</td><td>$8</td><td>$49</td><td>$23</td></tr><tr><td>Compensation expense, net of tax</td><td>5</td><td>31</td><td>15</td></tr><tr><td>Capitalized costs</td><td>5</td><td>27</td><td>13</td></tr><tr><td> 2005 Share Appreciation Plan</td><td></td><td></td><td></td></tr><tr><td>Compensation expense</td><td>$1</td><td>$6</td><td>$6</td></tr><tr><td>Compensation expense, net of tax</td><td>1</td><td>4</td><td>4</td></tr><tr><td>Capitalized costs</td><td>1</td><td>3</td><td>3</td></tr></table>
<table><tr><td></td><td colspan="2"> Price Range</td><td colspan="2"> Dividends  per Share</td></tr><tr><td></td><td> High</td><td> Low</td><td> Declared</td><td> Paid</td></tr><tr><td>2011</td><td></td><td></td><td></td><td></td></tr><tr><td>First Quarter</td><td>$132.50</td><td>$110.29</td><td>$0.15</td><td>$0.15</td></tr><tr><td>Second Quarter</td><td>134.13</td><td>114.94</td><td>0.15</td><td>0.15</td></tr><tr><td>Third Quarter</td><td>129.26</td><td>80.05</td><td>0.15</td><td>0.15</td></tr><tr><td>Fourth Quarter</td><td>105.64</td><td>73.04</td><td>0.15</td><td>0.15</td></tr><tr><td>2010</td><td></td><td></td><td></td><td></td></tr><tr><td>First Quarter</td><td>$108.92</td><td>$95.15</td><td>$0.15</td><td>$0.15</td></tr><tr><td>Second Quarter</td><td>111.00</td><td>83.55</td><td>0.15</td><td>0.15</td></tr><tr><td>Third Quarter</td><td>99.09</td><td>81.94</td><td>0.15</td><td>0.15</td></tr><tr><td>Fourth Quarter</td><td>120.80</td><td>96.51</td><td>0.15</td><td>0.15</td></tr></table>
<table><tr><td></td><td colspan="7">Crude Oil and Condensate (Thousands of barrels)</td></tr><tr><td></td><td>United States</td><td>Canada</td><td>Egypt-1</td><td>Australia</td><td>North Sea</td><td>Argentina</td><td>Total-1</td></tr><tr><td> Proved developed reserves:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>December 31, 2010</td><td>422,737</td><td>90,292</td><td>109,657</td><td>48,072</td><td>115,705</td><td>16,583</td><td>803,046</td></tr><tr><td>December 31, 2011</td><td>428,251</td><td>81,846</td><td>105,840</td><td>35,725</td><td>136,990</td><td>16,001</td><td>804,653</td></tr><tr><td>December 31, 2012</td><td>474,837</td><td>79,695</td><td>106,746</td><td>29,053</td><td>119,635</td><td>15,845</td><td>825,811</td></tr><tr><td>December 31, 2013</td><td>457,981</td><td>80,526</td><td>119,242</td><td>22,524</td><td>100,327</td><td>14,195</td><td>794,795</td></tr><tr><td> Proved undeveloped reserves:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>December 31, 2010</td><td>214,117</td><td>56,855</td><td>17,470</td><td>18,064</td><td>38,663</td><td>4,062</td><td>349,231</td></tr><tr><td>December 31, 2011</td><td>205,763</td><td>59,746</td><td>22,195</td><td>32,220</td><td>32,415</td><td>4,585</td><td>356,924</td></tr><tr><td>December 31, 2012</td><td>203,068</td><td>70,650</td><td>17,288</td><td>34,808</td><td>28,019</td><td>2,981</td><td>356,814</td></tr><tr><td>December 31, 2013</td><td>195,835</td><td>56,366</td><td>16,302</td><td>36,703</td><td>29,253</td><td>2,231</td><td>336,690</td></tr><tr><td> Total proved reserves:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Balance December 31, 2010</td><td>636,855</td><td>147,146</td><td>127,127</td><td>66,136</td><td>154,368</td><td>20,645</td><td>1,152,277</td></tr><tr><td>Extensions, discoveries and other additions</td><td>45,676</td><td>16,712</td><td>45,021</td><td>15,762</td><td>332</td><td>3,230</td><td>126,733</td></tr><tr><td>Purchase of minerals in-place</td><td>5,097</td><td>705</td><td>—</td><td>—</td><td>34,612</td><td>—</td><td>40,414</td></tr><tr><td>Revisions of previous estimates</td><td>-8,904</td><td>-17,117</td><td>-6,185</td><td>—</td><td>—</td><td>215</td><td>-31,991</td></tr><tr><td>Production</td><td>-43,587</td><td>-5,202</td><td>-37,928</td><td>-13,953</td><td>-19,907</td><td>-3,503</td><td>-124,080</td></tr><tr><td>Sale of properties</td><td>-1,123</td><td>-653</td><td>—</td><td>—</td><td>—</td><td>—</td><td>-1,776</td></tr><tr><td>Balance December 31, 2011</td><td>634,014</td><td>141,591</td><td>128,035</td><td>67,945</td><td>169,405</td><td>20,587</td><td>1,161,577</td></tr><tr><td>Extensions, discoveries and other additions</td><td>84,656</td><td>18,935</td><td>36,188</td><td>6,277</td><td>346</td><td>1,133</td><td>147,535</td></tr><tr><td>Purchase of minerals in-place</td><td>15,942</td><td>188</td><td>—</td><td>276</td><td>2,143</td><td>—</td><td>18,549</td></tr><tr><td>Revisions of previous estimates</td><td>-7,474</td><td>-4,577</td><td>-3,678</td><td>-66</td><td>-928</td><td>671</td><td>-16,052</td></tr><tr><td>Production</td><td>-49,089</td><td>-5,792</td><td>-36,511</td><td>-10,571</td><td>-23,312</td><td>-3,565</td><td>-128,840</td></tr><tr><td>Sale of properties</td><td>-144</td><td>—</td><td>—</td><td>—</td><td>—</td><td>—</td><td>-144</td></tr><tr><td>Balance December 31, 2012</td><td>677,905</td><td>150,345</td><td>124,034</td><td>63,861</td><td>147,654</td><td>18,826</td><td>1,182,625</td></tr><tr><td>Extensions, discoveries and other additions</td><td>133,227</td><td>10,177</td><td>43,738</td><td>2,539</td><td>1,543</td><td>998</td><td>192,222</td></tr><tr><td>Purchase of minerals in-place</td><td>85</td><td>—</td><td>5</td><td>—</td><td>3,623</td><td>—</td><td>3,713</td></tr><tr><td>Revisions of previous estimates</td><td>1,683</td><td>-531</td><td>457</td><td>-118</td><td>18</td><td>24</td><td>1,533</td></tr><tr><td>Production</td><td>-53,621</td><td>-6,469</td><td>-32,690</td><td>-7,055</td><td>-23,258</td><td>-3,422</td><td>-126,515</td></tr><tr><td>Sale of properties</td><td>-105,463</td><td>-16,630</td><td>—</td><td>—</td><td>—</td><td>—</td><td>-122,093</td></tr><tr><td>Balance December 31, 2013</td><td>653,816</td><td>136,892</td><td>135,544</td><td>59,227</td><td>129,580</td><td>16,426</td><td>1,131,485</td></tr></table>

Question: what is the percentage change in aggregate notional amount of outstanding foreign currency hedges from 2011 to 2012?
Answer: -0.23529