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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flow from operating activities:      
Net income (loss) $ 5,365 $ 865 $ (189)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation, depletion and amortization 1,998 1,528 1,412
Metals inventory adjustments 16 96 179
Net gain on sales of assets (80) (473) (417)
Stock-based compensation 98 99 63
Net charges for environmental and asset retirement obligations, including accretion 540 181 221
Payments for environmental and asset retirement obligations 273 216 244
Net charges for defined pension and postretirement plans 4 65 108
Pension plan contributions (109) (121) (75)
Net loss on early extinguishment of debt 0 101 27
Deferred income taxes (171) 181 29
Charges for Cerro Verde royalty dispute 11 32 65
Payments for Cerro Verde royalty dispute (421) (139) (187)
Other, net (18) 23 141
Changes in working capital and other:      
Accounts receivable (472) 132 119
Inventories (618) 42 259
Other current assets (101) (27) 60
Accounts payable and accrued liabilities 495 115 (60)
Accrued income taxes and timing of other tax payments 1,451 403 (29)
Net cash provided by (used in) operating activities 7,715 3,017 1,482
Cash flow from investing activities:      
Capital expenditures (2,115) (1,961) (2,652)
Proceeds from sales of assets      
Proceeds from sales of assets 247 704 561
Loans to PT Smelting for expansion (36) 0 0
Acquisition of minority interest in PT Smelting (33) 0 0
Other, net (27) (7) (12)
Net cash provided by (used in) investing activities (1,964) (1,264) (2,103)
Cash flow from financing activities:      
Proceeds from debt 1,201 3,531 1,879
Repayments of debt (1,461) (3,724) (3,197)
Cash dividends and distributions paid:      
Common stock (331) (73) (291)
Noncontrolling interests (583) 0 (82)
Treasury stock purchases (488) 0 0
Contributions from noncontrolling interests 182 156 165
Proceeds from exercised stock options 210 51 2
Payments for withholding of employee taxes related to stock-based awards (29) (17) (8)
Other, net (41) (52) (24)
Net cash used in financing activities (1,340) (128) (1,556)
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents 4,411 1,625 (2,177)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 8,314 3,903 2,278
North America copper mines      
Cash flow from investing activities:      
Capital expenditures (342) (428) (877)
South America      
Cash flow from investing activities:      
Capital expenditures (162) (183) (256)
Indonesia mining      
Cash flow from investing activities:      
Capital expenditures (1,296) (1,161) (1,369)
Corporate, Other and Eliminations, Indonesia Smelter      
Cash flow from investing activities:      
Capital expenditures (222) (105) 0
Molybdenum mines      
Cash flow from investing activities:      
Capital expenditures (6) (19) (19)
Other      
Cash flow from investing activities:      
Capital expenditures (87) (65) (131)
Asbestos Contamination in Talc-Based Personal Care Products      
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Charge for talc-related litigation $ 0 $ 130 $ 0