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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flow from operating activities:    
Net income $ 2,942 $ 2,284
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 996 902
Metals inventory adjustments 18 1
Net gain on sales of assets (2) (3)
Stock-based compensation 62 56
Net charges for environmental and asset retirement obligations, including accretion 119 94
Payments for environmental and asset retirement obligations (120) (110)
Net charges for defined pension and postretirement plans 20 1
Pension plan contributions (50) (42)
Net gain on early extinguishment of debt (8) 0
Deferred income taxes 63 79
Other, net (17) 77
Changes in working capital and other:    
Accounts receivable 314 (279)
Inventories (40) (299)
Other current assets (99) (12)
Accounts payable and accrued liabilities 185 272
Accrued income taxes and timing of other tax payments (1,071) 505
Net cash provided by operating activities 3,312 3,470
Cash flow from investing activities:    
Capital expenditures (1,586) (803)
Proceeds from sales of assets 96 16
Loans to PT Smelting for expansion (34) 0
Acquisition of minority interest in PT Smelting 0 (33)
Other, net (6) (13)
Net cash used in investing activities (1,530) (833)
Cash flow from financing activities:    
Proceeds from debt 4,666 160
Repayments of debt (2,993) (179)
Cash dividends and distributions paid:    
Common stock (438) (111)
Noncontrolling interests (513) (93)
Treasury stock purchases (1,185) 0
Contributions from noncontrolling interests 94 88
Proceeds from exercised stock options 106 184
Payments for withholding of employee taxes related to stock-based awards 55 19
Debt financing costs and other, net (33) (1)
Net cash (used in) provided by financing activities (351) 29
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect 1,431 2,666
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year 8,314 3,903
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period 9,745 6,569
North America Copper Mines Segment    
Cash flow from investing activities:    
Capital expenditures (276) (95)
South America Mines Segment    
Cash flow from investing activities:    
Capital expenditures (124) (47)
Grasberg Segment    
Cash flow from investing activities:    
Capital expenditures (759) (576)
Indonesia Smelter    
Cash flow from investing activities:    
Capital expenditures (344) (48)
Molybdenum    
Cash flow from investing activities:    
Capital expenditures (9) (3)
Other Segments    
Cash flow from investing activities:    
Capital expenditures (74) (34)
Cerro Verde Royalty Dispute    
Adjustments to reconcile net income to net cash provided by operating activities:    
Charges for Cerro Verde royalty dispute 0 9
Payments for Cerro Verde royalty dispute $ 0 $ (65)