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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
OPERATING ACTIVITIES      
Net income $ 3,388.6 $ 2,434.7 $ 2,648.0
Adjustments to reconcile net earnings to net cash provided from operating activities:      
Depreciation, amortization and depletion 845.9 833.6 796.3
Equity earnings of affiliate, net of dividends received (3.7) 2.6 4.6
Loss on foreign currency transaction effect 13.7 10.4 41.9
(Benefit) provision for deferred income taxes (52.2) (59.1) 118.6
Net charges for asset retirement obligations, including accretion (24.4) 26.1 16.4
Other, net 15.2 14.8 16.9
Change in operating assets and liabilities:      
(Increase) decrease in accounts receivable trade (48.5) 253.0 (35.4)
Increase in inventories (56.1) (60.4) (7.7)
Increase (decrease) in accounts payable and accrued liabilities 385.7 152.1 (718.0)
Decrease (increase) in other operating assets and liabilities (42.4) (34.7) (79.1)
Net cash provided by operating activities 4,421.7 3,573.1 2,802.5
INVESTING ACTIVITIES      
Capital expenditures (1,027.3) (1,008.6) (948.5)
Purchase of short-term investments (611.8) (808.7) (486.2)
Proceeds on sale of short-term investments 965.8 417.7 764.7
Other, net   1.2 3.2
Net cash used in investing activities (673.3) (1,398.4) (666.8)
FINANCING ACTIVITIES      
Repayments of debt     (300.0)
Cash dividends paid to common stockholders (1,637.2) (3,092.4) (2,705.8)
Distributions to non-controlling interest (8.3) (9.1) (5.5)
Other, net 0.4 0.3 0.3
Net cash used in financing activities (1,645.2) (3,101.2) (3,011.0)
Effect of exchange rate changes on cash and cash equivalents 3.4 8.3 (57.0)
Increase (decrease) in cash and cash equivalents 2,106.6 (918.2) (932.3)
Cash and cash equivalents, at beginning of year 1,151.5 2,069.7 3,002.0
Cash and cash equivalents, at end of year 3,258.1 1,151.5 2,069.7
Cash paid during the year for:      
Interest 369.7 369.7 380.2
Income taxes 1,590.8 1,434.0 2,391.5
Workers' participation 262.2 258.2 450.6
Supplemental schedule of non-cash operating, investing and financing activities:      
Decrease in pension and other post-retirement benefits 5.8 1.0 1.0
Capital expenditures incurred but not yet paid $ 19.8 $ 16.1 $ 18.5