Freeport-McMoRan 2014 Annual Report Download - page 135

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
133
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
Year Ended December 31, 2013
FCX FM O&G LLC Non-guarantor Consolidated
Issuer Guarantor Subsidiaries Eliminations FCX
Cash flow from operating activities:
Net income (loss) $ 2,658 $ 281 $ 3,934 $ (3,432) $ 3,441
Adjustments to reconcile net income (loss) to net cash (used in) provided
by operating activities:
Depreciation, depletion and amortization 4 616 2,177 — 2,797
Net losses on crude oil and natural gas derivative contracts — 334 — — 334
Gain on investment in MMR (128) — — — (128)
Equity in (earnings) losses of consolidated subsidiaries (2,886) (281) (265) 3,432 —
Other, net 8 (14) 78 — 72
Decreases (increases) in working capital and changes in other tax
payments, excluding amounts from acquisitions and dispositions 272 735 (1,384) — (377)
Net cash (used in) provided by operating activities (72) 1,671 4,540 — 6,139
Cash flow from investing activities:
Capital expenditures — (894) (4,392) — (5,286)
Acquisitions, net of cash acquired (5,437) — (4) — (5,441)
Intercompany loans 834 — (162) (672) —
Dividends from (investments in) consolidated subsidiaries 629 — — (629) —
Other, net 15 30 (226) — (181)
Net cash used in investing activities (3,959) (864) (4,784) (1,301) (10,908)
Cash flow from financing activities:
Proceeds from debt 11,260 — 241 — 11,501
Repayments of debt and redemption of MMR preferred stock (4,737) (416) (551) — (5,704)
Intercompany loans — (391) (281) 672 —
Cash dividends and distributions paid (2,281) — (885) 629 (2,537)
Other, net (211) — — — (211)
Net cash provided by (used in) financing activities 4,031 (807) (1,476) 1,301 3,049
Net decrease in cash and cash equivalents — — (1,720) — (1,720)
Cash and cash equivalents at beginning of year — — 3,705 — 3,705
Cash and cash equivalents at end of year $ — $ — $ 1,985 $ — $ 1,985