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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flow from operating activities:    
Net income $ 2,442 $ 1,780
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 1,104 946
Stock-based compensation 77 72
Net charges for environmental and asset retirement obligations, including accretion 300 237
Payments for environmental and asset retirement obligations (97) (114)
Net charges for defined pension and postretirement plans 16 31
Pension plan contributions (38) (6)
Net gain on early extinguishment of debt 0 (5)
Deferred income taxes 37 74
Change in deferred profit on PT Freeport Indonesia’s sales to PT Smelting 0 (112)
Charges for social investment programs at PT Freeport Indonesia 51 36
Payments for social investment programs at PT Freeport Indonesia (37) (28)
Other, net 21 14
Changes in working capital and other:    
Accounts receivable 92 756
Inventories (341) (530)
Other current assets 21 (17)
Accounts payable and accrued liabilities 103 (203)
Accrued income taxes and timing of other tax payments 101 (208)
Net cash provided by operating activities 3,852 2,723
Cash flow from investing activities:    
Capital expenditures (2,370) (2,284)
Loans to PT Smelting for expansion (28) (61)
Proceeds from sales of assets and other, net 13 (20)
Net cash used in investing activities (2,385) (2,365)
Cash flow from financing activities:    
Proceeds from debt 1,281 681
Repayments of debt (1,281) (1,806)
Cash dividends and distributions paid:    
Common stock (433) (432)
Noncontrolling interests (685) (291)
Contributions from noncontrolling interests 0 50
Proceeds from exercised stock options 26 34
Payments for withholding of employee taxes related to stock-based awards (35) (47)
Other, net (1) (1)
Net cash used in financing activities (1,128) (1,812)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect 339 (1,454)
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 6,402 6,936
North America Copper Mines Segment    
Cash flow from investing activities:    
Capital expenditures (480) (378)
South America Mines Segment    
Cash flow from investing activities:    
Capital expenditures (172) (183)
Grasberg Segment    
Cash flow from investing activities:    
Capital expenditures (750) (790)
Indonesia Smelter    
Cash flow from investing activities:    
Capital expenditures (740) (823)
Molybdenum    
Cash flow from investing activities:    
Capital expenditures (63) (22)
Other Segments    
Cash flow from investing activities:    
Capital expenditures $ (165) $ (88)