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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flow from operating activities:    
Net income $ 3,678 $ 2,744
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 1,704 1,479
Net charges for environmental and asset retirement obligations, including accretion 382 383
Payments for environmental and asset retirement obligations (157) (181)
Stock-based compensation 94 89
Net charges for defined pension and postretirement plans 29 44
Pension plan contributions (58) (10)
Net gain on early extinguishment of debt 0 (10)
Deferred income taxes 36 130
Change in deferred profit on PT Freeport Indonesia’s sales to PT Smelting 0 (112)
Charges for social investment programs at PT Freeport Indonesia 81 57
Payments for social investment programs at PT Freeport Indonesia (50) (29)
Other, net 14 59
Changes in working capital and other:    
Accounts receivable 93 550
Inventories (301) (738)
Other current assets (24) 7
Accounts payable and accrued liabilities (79) (151)
Accrued income taxes and timing of other tax payments 282 (352)
Net cash provided by operating activities 5,724 3,959
Cash flow from investing activities:    
Capital expenditures (3,569) (3,462)
Acquisition of additional ownership interest in Cerro Verde (210) 0
Loans to PT Smelting for expansion (28) (109)
Proceeds from sales of assets and other, net 10 (13)
Net cash used in investing activities (3,797) (3,584)
Cash flow from financing activities:    
Proceeds from debt 1,948 1,186
Repayments of debt (1,699) (2,397)
Cash dividends and distributions paid:    
Common stock (649) (647)
Noncontrolling interests (1,269) (407)
Treasury stock purchases (59) 0
Contributions from noncontrolling interests 0 50
Proceeds from exercised stock options 27 41
Payments for withholding of employee taxes related to stock-based awards (35) (50)
Other, net (38) (2)
Net cash used in financing activities (1,774) (2,226)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect 153 (1,851)
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 6,216 6,539
North America Copper Mines Segment    
Cash flow from investing activities:    
Capital expenditures (743) (545)
South America Mines Segment    
Cash flow from investing activities:    
Capital expenditures (272) (259)
Grasberg Segment    
Cash flow from investing activities:    
Capital expenditures (1,198) (1,209)
Indonesia Smelter    
Cash flow from investing activities:    
Capital expenditures (1,005) (1,258)
Molybdenum    
Cash flow from investing activities:    
Capital expenditures (88) (43)
Other Segments    
Cash flow from investing activities:    
Capital expenditures $ (263) $ (148)