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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flow from operating activities:      
Net income $ 4,399 $ 3,751 $ 4,479
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, depletion and amortization 2,241 2,068 2,019
Net charges for environmental and asset retirement obligations, including accretion 622 295 369
Payments for environmental and asset retirement obligations 234 250 274
Stock-based compensation 109 109 95
Net charges for defined pension and postretirement plans 35 62 45
Pension plan contributions (78) (75) (54)
Net gain on early extinguishment of debt 0 (10) (31)
Deferred income taxes (76) 182 36
Changes in deferred profit on PT Freeport Indonesia’s sales to PT Smelting 0 (112) (14)
Charges for social investment programs at PT Freeport Indonesia 103 84 84
Payments for social investment programs at PT Freeport Indonesia (54) (44) (11)
Impairment of oil and gas properties 69 67 0
Other, net 53 (33) (3)
Changes in working capital and other:      
Accounts receivable 460 166 56
Inventories (638) (873) (573)
Other current assets (41) (29) (12)
Accounts payable and accrued liabilities 143 (161) (73)
Accrued income taxes and timing of other tax payments 47 17 (999)
Net cash provided by (used in) operating activities 7,160 5,279 5,139
Cash flow from investing activities:      
Capital expenditures (4,808) (4,824) (3,469)
Proceeds from sales of assets      
Proceeds from sales of assets 19 27 108
Acquisition of additional ownership interest in Cerro Verde (210) 0 0
Loans to PT Smelting for expansion (28) (129) (65)
Other, net (1) (30) (14)
Net cash provided by (used in) investing activities (5,028) (4,956) (3,440)
Cash flow from financing activities:      
Proceeds from debt 2,251 1,781 5,735
Repayments of debt (2,731) (2,980) (4,515)
Finance lease payments (41) (3) (7)
Cash dividends and distributions paid:      
Common stock (865) (863) (866)
Noncontrolling interests (1,833) (625) (840)
Treasury stock purchases (59) 0 (1,347)
Contributions from noncontrolling interests 0 50 189
Proceeds from exercised stock options 29 47 125
Payments for withholding of employee taxes related to stock-based awards (35) (50) (55)
Other, net 0 (7) (42)
Net cash used in financing activities (3,284) (2,650) (1,623)
Net (decrease) increase in cash, cash equivalents and restricted cash and cash equivalents (1,152) (2,327) 76
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 4,911 6,063 8,390
North America copper mines      
Cash flow from investing activities:      
Capital expenditures (1,033) (761) (597)
South America operations      
Cash flow from investing activities:      
Capital expenditures (375) (368) (304)
Indonesia operations      
Cash flow from investing activities:      
Capital expenditures (2,908) (3,411) (2,381)
Molybdenum mines      
Cash flow from investing activities:      
Capital expenditures (117) (84) (33)
Other      
Cash flow from investing activities:      
Capital expenditures (375) (200) (154)
Asbestos Contamination in Talc-Based Personal Care Products      
Adjustments to reconcile net income to net cash provided by operating activities:      
Talc-related litigation charges $ 0 $ 65 $ 0