Freeport-McMoRan 2014 Annual Report Download - page 134

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
132
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
Year Ended December 31, 2014
FCX FM O&G LLC Non-guarantor Consolidated
Issuer Guarantor Subsidiaries Eliminations FCX
Cash flow from operating activities:
Net (loss) income
$ (1,308) $ (4,348) $ (4,147) $ 9,058 $ (745)
Adjustments to reconcile net (loss) income to net cash (used in) provided
by operating activities:
Depreciation, depletion and amortization
4 806 3,077 (24) 3,863
Impairment of oil and gas properties and goodwill
— 1,922 3,486 46 5,454
Net gains on crude oil and natural gas derivative contracts
— (504) — — (504)
Equity in losses (earnings) of consolidated subsidiaries
1,007 3,429 4,633 (9,072) (3)
Other, net
(882) (113) (807) — (1,802)
Decreases (increases) in working capital and changes in other
tax payments, excluding amounts from dispositions
723 (1,750) 395 — (632)
Net cash (used in) provided by operating activities
(456) (558) 6,637 8 5,631
Cash flow from investing activities:
Capital expenditures
— (2,143) (5,072) — (7,215)
Acquisition of Deepwater GOM interests
— — (1,426) — (1,426)
Intercompany loans
(1,328) 704 — 624 —
Dividends from (investments in) consolidated subsidiaries
1,221 (130) (2,408) 1,317 —
Net proceeds from sale of Candelaria and Ojos del Salado
— — 1,709 — 1,709
Net proceeds from sale of Eagle Ford shale assets
— 2,910 — — 2,910
Other, net
— 41 180 — 221
Net cash (used in) provided by investing activities
(107) 1,382 (7,017) 1,941 (3,801)
Cash flow from financing activities:
Proceeds from debt
7,464 — 1,246 — 8,710
Repayments of debt
(5,575) (3,994) (737) — (10,306)
Intercompany loans
— 810 (186) (624) —
Cash dividends and distributions paid, and contributions received
(1,305) 2,364 (1,463) (1,325) (1,729)
Other, net
(21) (3) (2) — (26)
Net cash provided by (used in) financing activities
563 (823) (1,142) (1,949) (3,351)
Net increase (decrease) in cash and cash equivalents
— 1 (1,522) — (1,521)
Cash and cash equivalents at beginning of year
— — 1,985 — 1,985
Cash and cash equivalents at end of year
$ — $ 1 $ 463 $ — $ 464