NEWMONT Corp DE
For the period ended Sep 30, 2024. Filed Oct 24, 2024.
View on SEC.govAbout this filing
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 Oct 24, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Operating activities: | ||
| Net income (loss) | $1,960 | $681 |
| Non-cash adjustments: | ||
| Depreciation and amortization | 1,887 | 1,427 |
| Loss on assets held for sale (Note 5) | 846 | — |
| Net (income) loss from discontinued operations | (68) | (15) |
| Reclamation and remediation | 306 | 287 |
| Stock-based compensation | 66 | 58 |
| Change in fair value of investments (Note 9) | (39) | 42 |
| (Gain) loss on asset and investment sales, net (Note 9) | (36) | (34) |
| Deferred income taxes | (35) | (3) |
| Other non-cash adjustments | 58 | 37 |
| Net change in operating assets and liabilities (Note 19) | (1,138) | (342) |
| Net cash provided by (used in) operating activities of continuing operations | 3,807 | 2,138 |
| Net cash provided by (used in) operating activities of discontinued operations | 45 | 9 |
| Net cash provided by (used in) operating activities | 3,852 | 2,147 |
| Investing activities: | ||
| Additions to property, plant and mine development | (2,527) | (1,746) |
| Proceeds from asset and investment sales | 345 | 219 |
| Purchases of investments | (62) | (545) |
| Return of investment from equity method investees | 55 | 30 |
| Contributions to equity method investees | (35) | (90) |
| Proceeds from maturities of investments | 28 | 1,355 |
| Other | 42 | 24 |
| Net cash provided by (used in) investing activities of continuing operations | (2,154) | (753) |
| Net cash provided by (used in) investing activities of discontinued operations | 153 | — |
| Net cash provided by (used in) investing activities | (2,001) | (753) |
| Financing activities: | ||
| Repayment of debt | (3,783) | — |
| Proceeds from issuance of debt, net | 3,476 | — |
| Dividends paid to common stockholders | (863) | (954) |
| Repurchases of common stock | (448) | — |
| Distributions to noncontrolling interests | (113) | (107) |
| Funding from noncontrolling interests | 87 | 107 |
| Payments on lease and other financing obligations | (62) | (48) |
| Payments for withholding of employee taxes related to stock-based compensation | (12) | (24) |
| Other | (28) | (39) |
| Net cash provided by (used in) financing activities | (1,746) | (1,065) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | (15) | (9) |
| Net change in cash, cash equivalents and restricted cash, including cash and restricted cash reclassified to assets held for sale | 90 | 320 |
| Less: cash and restricted cash reclassified to assets held for sale (1) | (140) | — |
| Net change in cash, cash equivalents and restricted cash | (50) | 320 |
| Cash, cash equivalents and restricted cash at beginning of period | 3,100 | 2,944 |
| Cash, cash equivalents and restricted cash at end of period | $3,050 | $3,264 |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Reconciliation of cash, cash equivalents and restricted cash: | ||
| Cash and cash equivalents | $3,016 | $3,190 |
| Restricted cash included in Other current assets | 3 | 1 |
| Restricted cash included in Other non-current assets | 31 | 73 |
| Total cash, cash equivalents and restricted cash | $3,050 | $3,264 |
(1)During the first quarter of 2024, certain non-core assets were determined to meet the criteria for assets held for sale. As a result, the related assets and liabilities as of September 30, 2024, including $86 of Cash and cash equivalents and $54 of restricted cash, previously included in Other current assets and Other non-current assets, were reclassified to Assets held for sale and Liabilities held for sale, respectively. Refer to Note 5 for additional information.
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