FREEPORT-MCMORAN INC
For the period ended Sep 30, 2024. Filed Nov 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 8, 2024
FCX$60.31-3.2%Stored close · as of Nov 10, 2026
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Consolidated Statements of Cash Flows (Unaudited)
| Nine Months Ended | ||
|---|---|---|
| September 30, | ||
| 2024 | 2023 | |
| (In Millions) | ||
| 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 | — | (10) |
| Deferred income taxes | 36 | 130 |
| Change in deferred profit on PT Freeport Indonesia’s sales to PT Smelting | — | (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: | ||
| North America copper mines | (743) | (545) |
| South America operations | (272) | (259) |
| Indonesia mining | (1,198) | (1,209) |
| Indonesia downstream processing facilities | (1,005) | (1,258) |
| Molybdenum mines | (88) | (43) |
| Other | (263) | (148) |
| Acquisition of additional ownership interest in Cerro Verde | (210) | — |
| 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) | — |
| Contributions from noncontrolling interests | — | 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) |
| Net increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents | 153 | (1,851) |
| Cash and cash equivalents and restricted cash and cash equivalents at beginning of year | 6,063 | 8,390 |
| Cash and cash equivalents and restricted cash and cash equivalents at end of period | $6,216 | $6,539 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.