XML 22 R5.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flow from operating activities:    
Net income $ 1,162 $ 1,049
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 595 399
Stock-based compensation 53 53
Net charges for environmental and asset retirement obligations, including accretion 224 117
Payments for environmental and asset retirement obligations (42) (60)
Net charges for defined pension and postretirement plans 8 16
Pension plan contributions (18) (2)
Deferred income taxes 46 35
Change in deferred profit on PT Freeport Indonesia’s sales to PT Smelting 0 (112)
Charges for social investment programs at PT Freeport Indonesia 28 14
Payments for social investment programs at PT Freeport Indonesia (24) (15)
Other, net (39) 8
Changes in working capital and other:    
Accounts receivable (582) 157
Inventories 66 (457)
Other current assets 0 (20)
Accounts payable and accrued liabilities (160) (288)
Accrued income taxes and timing of other tax payments 579 156
Net cash provided by operating activities 1,896 1,050
Cash flow from investing activities:    
Capital expenditures (1,254) (1,121)
Loans to PT Smelting for expansion (28) (24)
Proceeds from sales of assets and other, net 5 (19)
Net cash used in investing activities (1,277) (1,164)
Cash flow from financing activities:    
Proceeds from debt 613 284
Repayments of debt (612) (1,273)
Cash dividends and distributions paid:    
Common stock (218) (217)
Noncontrolling interests (102) 0
Contributions from noncontrolling interests 0 50
Proceeds from exercised stock options 4 31
Payments for withholding of employee taxes related to stock-based awards (27) (47)
Net cash used in financing activities (342) (1,172)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect 277 (1,286)
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year 6,063 8,390
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period 6,340 7,104
North America Copper Mines Segment    
Cash flow from investing activities:    
Capital expenditures (237) (196)
South America Mines Segment    
Cash flow from investing activities:    
Capital expenditures (82) (100)
Grasberg Segment    
Cash flow from investing activities:    
Capital expenditures (381) (427)
Indonesia Smelter    
Cash flow from investing activities:    
Capital expenditures (461) (345)
Molybdenum    
Cash flow from investing activities:    
Capital expenditures (27) (9)
Other Segments    
Cash flow from investing activities:    
Capital expenditures $ (66) $ (44)