Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Freeport-McMoRan Inc., consolidated cash flow statement

US$ in millions

12 months ended:	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net income	4,399)	3,751)	4,479)	5,365)	865)
Depreciation, depletion and amortization	2,241)	2,068)	2,019)	1,998)	1,528)
Net charges for environmental and asset retirement obligations, including accretion	622)	295)	369)	540)	181)
Payments for environmental and asset retirement obligations	(234)	(250)	(274)	(273)	(216)
Stock-based compensation	109)	109)	95)	98)	99)
Talc-related litigation charges	—)	65)	—)	—)	130)
Net charges for defined pension and postretirement plans	35)	62)	45)	4)	65)
Pension plan contributions	(78)	(75)	(54)	(109)	(121)
Net (gain) loss on early extinguishment of debt	—)	(10)	(31)	—)	101)
Net gain on sales of assets	—)	—)	(2)	(80)	(473)
Deferred income taxes	(76)	182)	36)	(171)	181)
Changes in deferred profit on PT Freeport Indonesia’s sales to PT Smelting	—)	(112)	(14)	86)	—)
Charges for social investment programs at PT Freeport Indonesia	103)	84)	84)	75)	—)
Payments for social investment programs at PT Freeport Indonesia	(54)	(44)	(11)	(67)	—)
Impairment of oil and gas properties	69)	67)	—)	—)	—)
Payments for Cerro Verde royalty dispute	—)	—)	—)	(421)	(139)
Other, net	53)	(33)	(1)	(77)	151)
Accounts receivable	460)	166)	56)	(472)	132)
Inventories	(638)	(873)	(573)	(618)	42)
Other current assets	(41)	(29)	(12)	(101)	(27)
Accounts payable and accrued liabilities	143)	(161)	(73)	487)	115)
Accrued income taxes and timing of other tax payments	47)	17)	(999)	1,451)	403)
Changes in working capital and other	(29)	(880)	(1,601)	747)	665)
Adjustments to reconcile net income to net cash provided by operating activities	2,761)	1,528)	660)	2,350)	2,152)
Net cash provided by operating activities	7,160)	5,279)	5,139)	7,715)	3,017)
North America copper mines	(1,033)	(761)	(597)	(342)	(428)
South America operations	(375)	(368)	(304)	(162)	(183)
Indonesia operations	(2,908)	(3,411)	(2,381)	(1,518)	(1,266)
Molybdenum mines	(117)	(84)	(33)	(6)	(19)
Other	(375)	(200)	(154)	(87)	(65)
Capital expenditures	(4,808)	(4,824)	(3,469)	(2,115)	(1,961)
Proceeds from sales of assets	19)	27)	108)	247)	704)
Acquisition of additional ownership interest in Cerro Verde	(210)	—)	—)	—)	—)
Loans to PT Smelting for expansion	(28)	(129)	(65)	(36)	—)
Acquisition of minority interest in PT Smelting	—)	—)	—)	(33)	—)
Other, net	(1)	(30)	(14)	(27)	(7)
Net cash used in investing activities	(5,028)	(4,956)	(3,440)	(1,964)	(1,264)
Proceeds from debt	2,251)	1,781)	5,735)	1,201)	3,531)
Repayments of debt	(2,731)	(2,980)	(4,515)	(1,461)	(3,724)
Finance lease payments	(41)	(3)	(7)	—)	—)
Cash dividends and distributions paid, common stock	(865)	(863)	(866)	(331)	(73)
Cash dividends and distributions paid, noncontrolling interests	(1,833)	(625)	(840)	(583)	—)
Treasury stock purchases	(59)	—)	(1,347)	(488)	—)
Contributions from noncontrolling interests	—)	50)	189)	182)	156)
Proceeds from exercised stock options	29)	47)	125)	210)	51)
Payments for withholding of employee taxes related to stock-based awards	(35)	(50)	(55)	(29)	(17)
Debt financing costs	—)	(7)	(42)	(41)	(52)
Net cash used in financing activities	(3,284)	(2,650)	(1,623)	(1,340)	(128)
Net increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents	(1,152)	(2,327)	76)	4,411)	1,625)
Cash, cash equivalents and restricted cash and cash equivalents at beginning of year	6,063)	8,390)	8,314)	3,903)	2,278)
Cash, cash equivalents and restricted cash and cash equivalents at end of year	4,911)	6,063)	8,390)	8,314)	3,903)

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

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Cash flow statement item	Description	The company
Net cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	Freeport-McMoRan Inc. net cash provided by operating activities increased from 2022 to 2023 and from 2023 to 2024.
Net cash used in investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	Freeport-McMoRan Inc. net cash used in investing activities decreased from 2022 to 2023 and from 2023 to 2024.
Net cash used in financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	Freeport-McMoRan Inc. net cash used in financing activities decreased from 2022 to 2023 and from 2023 to 2024.

Freeport-McMoRan Inc. (NYSE:FCX)

Cash Flow Statement