v3.26.1
Consolidated Statement of Equity (Unaudited) - USD ($)
shares in Millions, $ in Millions
Total
Common Stock
Capital in Excess of Par Value
Accumulated Deficit
AOCI Attributable to Parent
Common Stock Held in Treasury
Total Stockholder's Equity
Noncontrolling Interests
Balance (in shares) at Dec. 31, 2024   1,624.0            
Beginning balance (in shares) at Dec. 31, 2024           187.0    
Balance at Dec. 31, 2024 $ 28,778 $ 162 $ 23,797 $ (170) $ (314) $ (5,894) $ 17,581 $ 11,197
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Exercised and issued stock-based awards (in shares)   2.0            
Exercised and issued stock-based awards 2 $ 1 1       2  
Stock-based compensation, including the tender of shares (in shares)           1.0    
Stock-based compensation, including the tender of shares 37   60     $ (23) 37 0
Treasury stock purchases (in shares)           3.0    
Treasury stock purchases (107)         $ (107) (107)  
Dividends (1,057)   (216) (216)     (432) (625)
Net income attributable to common stockholders 1,124     1,124     1,124  
Net income (loss) attributable to noncontrolling interests 1,216             1,216
Other comprehensive income 3       3   3 0
Balance (in shares) at Jun. 30, 2025   1,626.0            
Ending balance (in shares) at Jun. 30, 2025           191.0    
Balance at Jun. 30, 2025 29,996 $ 163 23,642 738 (311) $ (6,024) 18,208 11,788
Balance (in shares) at Mar. 31, 2025   1,626.0            
Beginning balance (in shares) at Mar. 31, 2025           189.0    
Balance at Mar. 31, 2025 29,214 $ 163 23,627 182 (313) $ (5,971) 17,688 11,526
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Stock-based compensation, including the tender of shares 14   15     $ (1) 14 0
Treasury stock purchases (in shares)           2.0    
Treasury stock purchases (52)         $ (52) (52)  
Dividends (729)     (216)     (216) (513)
Net income attributable to common stockholders 772     772     772  
Net income (loss) attributable to noncontrolling interests 775             775
Other comprehensive income 2       2   2 0
Balance (in shares) at Jun. 30, 2025   1,626.0            
Ending balance (in shares) at Jun. 30, 2025           191.0    
Balance at Jun. 30, 2025 29,996 $ 163 23,642 738 (311) $ (6,024) 18,208 11,788
Balance (in shares) at Dec. 31, 2025   1,627.0            
Beginning balance (in shares) at Dec. 31, 2025           191.0    
Balance at Dec. 31, 2025 30,766 $ 163 23,680 1,385 (305) $ (6,024) 18,899 11,867
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Exercised and issued stock-based awards (in shares)   3.0            
Exercised and issued stock-based awards 22   22       22  
Stock-based compensation, including the tender of shares $ 24   32       32 (8)
Treasury stock purchases (in shares) 3.4         3.0    
Treasury stock purchases $ (203)         $ (203) (203)  
Acquisition of additional ownership interest in Cerro Verde (109)   (73)       (73)  
Dividends (1,058)     (433)     (433) (625)
Contributions from noncontrolling interests 0   (2)       (2) 2
Net income attributable to common stockholders 1,865     1,865     1,865  
Net income (loss) attributable to noncontrolling interests 913             913
Other comprehensive income 2       2   2  
Balance (in shares) at Jun. 30, 2026   1,630.0            
Ending balance (in shares) at Jun. 30, 2026           194.0    
Balance at Jun. 30, 2026 32,222 $ 163 23,659 2,817 (303) $ (6,227) 20,109 12,113
Balance (in shares) at Mar. 31, 2026   1,630.0            
Beginning balance (in shares) at Mar. 31, 2026           193.0    
Balance at Mar. 31, 2026 31,511 $ 163 23,713 2,050 (304) $ (6,117) 19,505 12,006
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Exercised and issued stock-based awards 3   3       3  
Stock-based compensation, including the tender of shares 18   17       17 1
Treasury stock purchases (in shares)           1.0    
Treasury stock purchases (110)         $ (110) (110)  
Acquisition of additional ownership interest in Cerro Verde (109)   (73)       (73) (36)
Dividends (483)     (217)     (217) (266)
Contributions from noncontrolling interests 0   (1)       (1) 1
Net income attributable to common stockholders 984     984     984  
Net income (loss) attributable to noncontrolling interests 407             407
Other comprehensive income 1       1   1  
Balance (in shares) at Jun. 30, 2026   1,630.0            
Ending balance (in shares) at Jun. 30, 2026           194.0    
Balance at Jun. 30, 2026 $ 32,222 $ 163 $ 23,659 $ 2,817 $ (303) $ (6,227) $ 20,109 $ 12,113