Cash Flow Information

12 Months Ended

Dec. 31, 2024

Supplemental Cash Flow Elements [Abstract]

CASH FLOW INFORMATION

Supplemental disclosures of cash paid for interest and income taxes and non-cash investing and financing information is as follows:


	Years Ended December 31,
(in millions)	2024		2023		2022
Cash paid during the period for:
Interest	$	228.7	$	204.7	$	196.4
Less amount capitalized	42.3		35.2		26.8
Cash interest, net	$	186.4	$	169.5	$	169.6
Income taxes	$	337.0	$	385.6	$	1,114.5

Acquiring or constructing property, plant and equipment by incurring a liability does not result in a cash outflow for us until the liability is paid. In the period the liability is incurred, the change in operating accounts payable on the Consolidated Statements of Cash Flows is adjusted by such amount. In the period the liability is paid, the amount is reflected as a cash outflow from investing activities. The applicable net change in operating accounts payable that was classified to investing activities on the Consolidated Statements of Cash Flows was $(20.3) million, $(19.5) million, and $(65.2) million for 2024, 2023 and 2022, respectively.

We accrued $74.1 million related to the dividends declared in 2024 that will be paid in 2025. At December 31, 2023 and 2022, we had accrued dividends of $72.3 million and $72.9 million which were paid in 2024 and 2023, respectively.

Included in proceeds from issuance of short-term debt and payments of short-term debt were $16.8 billion and ($16.6) billion and $9.6 billion and ($9.5) billion for 2024 and 2023, respectively, related to our commercial paper arrangement.

We had non-cash investing and financing transactions related to right-of-use assets obtained in exchange for lease obligations assets under finance leases in 2024 of $9.0 million. Non-cash investing and financing transactions related to assets acquired under capital leases were $35.8 million and $27.2 million for 2023 and 2022, respectively.

We had non-cash transactions related to the exchange of our 25% ownership MWSPC for 111,012,433 shares of Ma’aden at a value of approximately $1.5 billion, resulting in a gain before transaction expenses of $538.2 million.

Depreciation, depletion and amortization includes $1,012.5 million, $958.9 million and $932.1 million related to depreciation and depletion of property, plant and equipment and $13.0 million, $1.7 million and $1.8 million related to the amortization of intangible assets and cloud computing costs for 2024, 2023 and 2022, respectively.