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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
USD ($)
Jun. 30, 2022
USD ($)
Jun. 30, 2023
USD ($)
Jun. 30, 2022
USD ($)
Operating activities:        
Net income (loss) $ 155 $ 400 $ 518 $ 869
Non-cash adjustments:        
Depreciation and amortization 486 559 947 1,106
Net loss (income) from discontinued operations (2) (8) (14) (24)
Reclamation and remediation     120 103
Stock-based compensation     42 40
(Gain) loss on asset and investment sales, net (Note 7)     (36) 35
Deferred income taxes     21 (111)
Change in fair value of investments (Note 7)     1 96
Charges from pension settlement (Note 7)     0 130
Other non-cash adjustments     7 (20)
Net change in operating assets and liabilities (Note 17)     (469) (502)
Net cash provided by (used in) operating activities of continuing operations     1,137 1,722
Net cash provided by (used in) operating activities of discontinued operations     7 15
Net cash provided by (used in) operating activities     1,144 1,737 Close
Investing activities:        
Additions to property, plant and mine development  (616) (519) (1,142) (956)
Proceeds from maturities of investments     981 0
Purchases of investments     (542) (8)
Proceeds from asset and investment sales     214 41
Contributions to equity method investees     (64) (91)
Return of investment from equity method investees     30 39
Other      23 (59)
Net cash provided by (used in) investing activities      (500) (1,034) Close
Financing activities:        
Dividends paid to common stockholders     (636) (873)
Funding from noncontrolling interests     75 56
Distributions to noncontrolling interests     (66) (103)
Payments on lease and other financing obligations     (32) (34)
Payments for withholding of employee taxes related to stock-based compensation     (22) (36)
Acquisition of noncontrolling interests (Note 1)     0 (348)
Repayment of debt     0 (89)
Other     (3) 10
Net cash provided by (used in) financing activities     (684) (1,417) Close
Effect of exchange rate changes on cash, cash equivalents and restricted cash     (4) (9) Close
Net change in cash, cash equivalents and restricted cash     (44) (723)
Cash, cash equivalents and restricted cash at beginning of period      2,944 5,093
Cash, cash equivalents and restricted cash at end of period  2,900 4,370 2,900 4,370
Reconciliation of cash, cash equivalents and restricted cash:        
Cash and cash equivalents 2,829 4,307 2,829 4,307 Close
Restricted cash included in Other current assets 1 0 1 0
Restricted cash included in Other non-current assets 70 63 70 63
Total cash, cash equivalents and restricted cash $ 2,900 $ 4,370 $ 2,900 $ 4,370