v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Operating activities:          
Net income (loss) $ 2,075 $ 857 $ 3,977 $ 1,036  
Non-cash adjustments:          
Depreciation and amortization 620 602 1,213 1,256  
(Gain) loss on sale of assets held for sale (Note 3) (699) 246 (975) 731  
Change in fair value of investments and options     (442) (22)  
Net (income) loss from discontinued operations 0 (15) 0 (19)  
Deferred income taxes     342 (42)  
Reclamation and remediation     166 182  
Stock-based compensation     48 44  
Other non-cash adjustments     71 (67)  
Change in operating assets and liabilities:          
Trade and other receivables     443 (224)  
Inventories, stockpiles and ore on leach pads     (236) (378)  
Other assets     (98) 56  
Accounts payable     (99) (123)  
Reclamation and remediation liabilities (Note 6)     (280) (166)  
Accrued tax liabilities [1]     354 142  
Other accrued liabilities     (69) (236)  
Net cash provided by (used in) operating activities of continuing operations     4,415 2,170  
Net cash provided by (used in) operating activities of discontinued operations     0 34  
Net cash provided by (used in) operating activities     4,415 2,204  
Investing activities:          
Proceeds from sales of mining operations and other assets, net     2,675 180  
Additions to property, plant and mine development (674) (800) (1,500) (1,650)  
Proceeds from sales of investments     374 12  
Contributions to equity method investees     (48) (20)  
Return of investment from equity method investees     44 41  
Purchases of investments     (13) (60)  
Other      (115) 58  
Net cash provided by (used in) investing activities     1,417 (1,439)  
Financing activities:          
Repayment of debt     (1,383) (3,650)  
Repurchases of common stock     (1,359) (104)  
Dividends paid to common stockholders     (561) (577)  
Distributions to noncontrolling interests     (100) (77)  
Funding from noncontrolling interests     70 53  
Payments on lease and other financing obligations     (46) (40)  
Payments for withholding of employee taxes related to stock-based compensation     (16) (10)  
Proceeds from issuance of debt, net     0 3,476  
Other     (12) (28)  
Net cash provided by (used in) financing activities     (3,407) (957)  
Effect of exchange rate changes on cash, cash equivalents and restricted cash     5 (14)  
Net change in cash, cash equivalents and restricted cash, including cash and restricted cash reclassified to assets held for sale     2,430 (206)  
Less: change in cash and restricted cash reclassified to assets held for sale [2]     138 (258)  
Net change in cash, cash equivalents and restricted cash     2,568 (464)  
Cash, cash equivalents and restricted cash at beginning of period      3,650 3,100 $ 3,100
Cash, cash equivalents and restricted cash at end of period  6,218 2,636 6,218 2,636 3,650
Reconciliation of cash, cash equivalents and restricted cash:          
Cash and cash equivalents 6,185 2,602 6,185 2,602 3,619
Restricted cash included in other current assets 2 6 2 6  
Restricted cash included in other non-current assets 31 28 31 28  
Total cash, cash equivalents and restricted cash $ 6,218 $ 2,636 $ 6,218 $ 2,636 $ 3,650
[1] Includes $1,113 and $304 of cash payments for income and mining taxes, net of refunds, for the six months ended June 30, 2025 and 2024, respectively.
[2] During the first quarter of 2024, certain non-core assets were determined to meet the criteria for assets held for sale. As a result, at June 30, 2024 the related assets, including $205 of Cash and cash equivalents and $53 of restricted cash, included in Other current assets and Other non-current assets, were reclassified to Assets held for sale. At June 30, 2025, no amounts relating to Cash and cash equivalents and restricted cash remain in Assets held for sale. Refer to Note 3 for additional information.