v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities:    
Net income (loss) $ 5,579 $ 3,977
Non-cash adjustments:    
Depreciation and amortization 1,236 1,213
(Gain) loss on sale of assets held for sale (5) (975)
Reclamation and remediation 149 166
Deferred income taxes (146) 342
Change in fair value of investments and options 24 (442)
Other non-cash adjustments 164 119
Change in operating assets and liabilities:    
Trade and other receivables 531 443
Inventories, stockpiles and ore on leach pads (283) (236)
Other assets 16 (98)
Accounts payable 102 (99)
Reclamation and remediation liabilities (458) (280)
Accrued tax liabilities [1] 84 354
Other accrued liabilities (284) (69)
Net cash provided by (used in) operating activities 6,709 4,415
Investing activities:    
Additions to property, plant and mine development (1,360) (1,500)
Proceeds from sales of investments 257 374
Proceeds from sales of mining operations and other assets, net 100 2,675
Contributions to equity method investees (57) (48)
Return of investment from equity method investees 42 44
Other  (15) (128)
Net cash provided by (used in) investing activities (1,033) 1,417
Financing activities:    
Repurchases of common stock (3,462) (1,359)
Dividends paid to common stockholders (559) (561)
Distributions to noncontrolling interests (189) (100)
Funding from noncontrolling interests 68 70
Payments on lease and other financing obligations (53) (46)
Repayment of debt (39) (1,383)
Other (67) (28)
Net cash provided by (used in) financing activities (4,301) (3,407)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (16) 5
Net change in cash, cash equivalents and restricted cash, including cash and restricted cash reclassified to assets held for sale 1,359 2,430
Change in cash and restricted cash reclassified to assets held for sale 0 138
Net change in cash, cash equivalents and restricted cash 1,359 2,568
Cash, cash equivalents and restricted cash at beginning of period  7,684 3,650
Cash, cash equivalents and restricted cash at end of period  9,043 6,218
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 9,009 6,185
Restricted cash included in other current assets 1 2
Restricted cash included in other non-current assets 33 31
Total cash, cash equivalents and restricted cash $ 9,043 $ 6,218
[1] Includes $2,349 and $1,113 of cash payments for income and mining taxes, net of refunds, for the six months ended June 30, 2026 and 2025, respectively.