Freeport-McMoRan Inc (FCX) financial statements: income statement, balance sheet and cash flow

Freeport-McMoRan Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Freeport-McMoRan Inc reported revenue of $25.9B (+1.8% year on year) and net income of $4.2B (-5.6% year on year).

Income statement

Freeport-McMoRan Inc income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Revenues	$25.9B	$25.5B	$22.9B	$22.8B
Production and delivery	$16.4B	$15.6B	$13.6B	$13.0B
Depreciation, depletion and amortization	$2.2B	$2.2B	$2.1B	$2.0B
Total cost of sales	$18.6B	$17.8B	$15.7B	$15.1B
Selling, general and administrative expenses	$545.0M	$513.0M	$479.0M	$420.0M
Exploration Expense	$192.0M	$156.0M	$137.0M	$115.0M
Environmental obligations and shutdown costs	$58.0M	$127.0M	$319.0M	$121.0M
Gain on sales of assets	($16.0M)	$0	$0	($2.0M)
Total costs and expenses	$19.4B	$18.6B	$16.6B	$15.7B
Operating income	$6.5B	$6.9B	$6.2B	$7.0B
Interest expense, net	($369.0M)	($319.0M)	($515.0M)	($560.0M)
Net gain on early extinguishment of debt	$0	$0	$10.0M	$31.0M
Other income, net	$223.0M	$362.0M	$286.0M	$207.0M
Income before income taxes and equity in affiliated companies’ net earnings	$6.4B	$6.9B	$6.0B	$6.7B
Provision for (benefit from) income taxes	($2.2B)	($2.5B)	($2.3B)	($2.3B)
Equity in affiliated companies’ net earnings	$1.0M	$15.0M	$15.0M	$31.0M
Net income	$4.2B	$4.4B	$3.8B	$4.5B
Net income attributable to noncontrolling interests	($1.9B)	($2.5B)	($1.9B)	($1.0B)
Net income attributable to common stockholders	$2.2B	$1.9B	$1.8B	$3.5B
Basic	$1.53	$1.31	$1.28	$2.4
Diluted	$1.52	$1.3	$1.28	$2.39
Basic	1.4B	1.4B	1.4B	1.4B
Diluted	1.4B	1.4B	1.4B	1.5B
Dividends declared per share of common stock (in dollars per share)	$0.60	$0.60	$0.60	$0.60

Freeport-McMoRan Inc income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Revenues	$7.0B	$6.2B	$7.0B	$7.6B
Production and delivery	$4.3B	$4.1B	$4.2B	$4.3B
Depreciation, depletion and amortization	$523.0M	$514.0M	$625.0M	$668.0M
Total cost of sales	$4.8B	$4.6B	$4.8B	$5.0B
Selling, general and administrative expenses	$135.0M	$162.0M	$131.0M	$127.0M
Exploration and research expenses	$53.0M	$38.0M	$55.0M	$46.0M
Environmental obligations and shutdown costs	$13.0M	$17.0M	$0	$27.0M
Gain on PTFI mud rush incident insurance settlement	$0	($699.0M)	—	—
Gain on sale of assets	($18.0M)	—	($16.0M)	—
Total costs and expenses	$5.0B	$4.1B	$5.0B	$5.2B
Operating income	$2.0B	$2.1B	$2.0B	$2.4B
Interest expense, net	($95.0M)	($114.0M)	($107.0M)	($82.0M)
Other income, net	$22.0M	$11.0M	$59.0M	$41.0M
Income before income taxes and equity in affiliated companies’ net earnings	$1.9B	$2.0B	$1.9B	$2.4B
Provision for income taxes	($544.0M)	($653.0M)	($669.0M)	($850.0M)
Equity in affiliated companies’ net earnings	$5.0M	$6.0M	($8.0M)	$6.0M
Net income	$1.4B	$1.4B	$1.2B	$1.5B
Net income (loss) attributable to noncontrolling interests	$407.0M	$506.0M	$573.0M	$775.0M
Net income attributable to common stockholders	$984.0M	$881.0M	$674.0M	$772.0M
Earnings per share, basic (in dollars per share)	$0.68	$0.61	$0.46	$0.53
Earnings per share, diluted (in dollars per share)	$0.68	$0.61	$0.46	$0.53
Basic weighted-average shares of common stock outstanding	1.4B	1.4B	1.4B	1.4B
Diluted weighted-average shares of common shares outstanding	1.4B	1.4B	1.4B	1.4B
Dividends declared per share of common stock (in dollars per share)	$0.15	$0.15	$0.15	$0.15

Balance sheet

Freeport-McMoRan Inc balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and cash equivalents	$3.8B	$3.9B	$4.8B	$8.1B
Restricted cash and cash equivalents	$230.0M	$888.0M	$1.2B	—
Trade accounts receivable	$977.0M	$578.0M	$1.2B	$1.3B
Value added and other tax receivables	$686.0M	$564.0M	—	—
Product	$3.3B	$3.0B	$2.5B	$1.8B
Total materials and supplies, net	$2.7B	$2.4B	$2.2B	$2.0B
Mill and leach stockpiles	$1.4B	$1.4B	$1.4B	$1.4B
Other current assets	$580.0M	$535.0M	$375.0M	$492.0M
Total current assets	$13.8B	$13.3B	$14.1B	$15.6B
Property, plant, equipment and mine development costs, net	$40.7B	$38.5B	$35.3B	$32.6B
Long-term mill and leach stockpiles	$1.2B	$1.2B	$1.3B	$1.3B
Long-term tax receivables	$810.0M	—	—	—
Other assets	$1.7B	$1.8B	$1.8B	$1.6B
Total assets	$58.2B	$54.8B	$52.5B	$51.1B
Accounts payable and accrued liabilities	$4.6B	$4.1B	$3.7B	$4.0B
Current portion of debt	$466.0M	$41.0M	$766.0M	$1.0B
Accrued income taxes	$456.0M	$859.0M	$786.0M	$744.0M
Current portion of environmental and asset retirement obligations	$313.0M	$320.0M	$316.0M	$320.0M
Dividends payable	$219.0M	$219.0M	$218.0M	$217.0M
Total current liabilities	$6.0B	$5.5B	$5.8B	$6.3B
Long-term debt, less current portion	$8.9B	$8.9B	$8.7B	$9.6B
Environmental and asset retirement obligations, less current portion	$5.5B	$5.4B	$4.6B	$4.5B
Deferred income taxes	$4.6B	$4.4B	$4.5B	$4.3B
Long-term leases	$1.0B	—	—	—
Other liabilities	$1.3B	$1.9B	$1.6B	$1.6B
Total liabilities	$27.4B	$26.1B	$25.2B	$26.2B
Common stock, par value $0.10, 1,627 shares and 1,624 shares issued, respectively	163.0M	162.0M	162.0M	161.0M
Capital in excess of par value	$23.7B	$23.8B	$24.6B	$25.3B
Retained earnings (accumulated deficit)	$1.4B	($170.0M)	($2.1B)	($3.9B)
Accumulated other comprehensive loss	($305.0M)	($314.0M)	($274.0M)	($320.0M)
Common stock held in treasury – 191 shares and 187 shares, respectively, at cost	-6.0B	-5.9B	-5.8B	-5.7B
Total stockholders’ equity	$18.9B	$17.6B	$16.7B	$15.6B
Noncontrolling interests	$11.9B	$11.2B	$10.6B	$9.3B
Total equity	$30.8B	$28.8B	$27.3B	$24.9B
Total liabilities and equity	$58.2B	$54.8B	$52.5B	$51.1B

Freeport-McMoRan Inc balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Cash and cash equivalents	$4.1B	$3.7B	$4.3B	$4.5B
Restricted cash and cash equivalents	$278.0M	$280.0M	$230.0M	$230.0M
Trade accounts receivable	$716.0M	$681.0M	$916.0M	$941.0M
Value added and other tax receivables	$654.0M	$666.0M	$548.0M	$474.0M
Product	$3.4B	$3.0B	$2.9B	$3.0B
Materials and supplies, net	$2.9B	$2.9B	$2.6B	$2.5B
Mill and leach stockpiles	$1.6B	$1.5B	$1.5B	$1.5B
Other current assets	$573.0M	$609.0M	$554.0M	$547.0M
Total current assets	$14.2B	$14.1B	$13.6B	$13.6B
Property, plant, equipment and mine development costs, net	$41.7B	$41.1B	$40.3B	$39.8B
Long-term mill and leach stockpiles	$1.1B	$1.1B	$1.1B	$1.1B
Long-term tax receivables	$1.1B	$832.0M	—	—
Other assets	$1.7B	$1.7B	$1.9B	$1.9B
Total assets	$59.7B	$58.8B	$56.8B	$56.5B
Accounts payable and accrued liabilities	$4.6B	$4.1B	$4.1B	$4.3B
Current portion of debt	$1.2B	$500.0M	$383.0M	$338.0M
Accrued income taxes	$509.0M	$725.0M	$528.0M	$389.0M
Current portion of environmental and asset retirement obligations	$327.0M	$323.0M	$299.0M	$298.0M
Dividends payable - common stock	$218.0M	$217.0M	$218.0M	$218.0M
Total current liabilities	$6.9B	$5.9B	$5.5B	$5.5B
Long-term debt, less current portion	$8.2B	$8.9B	$8.9B	$8.9B
Environmental and asset retirement obligations, less current portion	$5.6B	$5.6B	$5.5B	$5.5B
Deferred income taxes	$4.7B	$4.6B	$4.4B	$4.4B
Long-term leases, less current portion	$973.0M	$987.0M	—	—
Other liabilities	$1.2B	$1.3B	$2.2B	$2.2B
Total liabilities	$27.5B	$27.3B	$26.4B	$26.5B
Common stock	$163.0M	$163.0M	$163.0M	$163.0M
Capital in excess of par value	$23.7B	$23.7B	$23.7B	$23.6B
Retained earnings	$2.8B	$2.0B	$1.2B	$738.0M
Accumulated other comprehensive loss	($303.0M)	($304.0M)	($310.0M)	($311.0M)
Common stock held in treasury	($6.2B)	($6.1B)	($6.0B)	($6.0B)
Total stockholders’ equity	$20.1B	$19.5B	$18.7B	$18.2B
Noncontrolling interests	$12.1B	$12.0B	$11.7B	$11.8B
Total equity	$32.2B	$31.5B	$30.4B	$30.0B
Total liabilities and equity	$59.7B	$58.8B	$56.8B	$56.5B

Cash flow statement

Freeport-McMoRan Inc cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net income	$4.2B	$4.4B	$3.8B	$4.5B
Depreciation, depletion and amortization	$2.2B	$2.2B	$2.1B	$2.0B
Net charges for environmental and asset retirement obligations, including accretion	$291.0M	$622.0M	$295.0M	$369.0M
Payments for environmental and asset retirement obligations	$244.0M	$234.0M	$250.0M	$274.0M
Stock-based compensation	$121.0M	$109.0M	$109.0M	$95.0M
Net charges for defined pension and postretirement plans	$62.0M	$35.0M	$62.0M	$45.0M
Pension plan contributions	($37.0M)	($78.0M)	($75.0M)	($54.0M)
Deferred income taxes	$247.0M	($76.0M)	$182.0M	$36.0M
Charges for PT Freeport Indonesia’s (PTFI) social investment programs	$86.0M	$103.0M	$84.0M	—
Payments for PTFI social investment programs	($65.0M)	($54.0M)	($44.0M)	—
Impairment of oil and gas properties	$64.0M	$69.0M	$67.0M	—
Charges for talc-related litigation reserves	$4.0M	$0	$65.0M	$0
Net gain on early extinguishment of debt	$0	$0	($10.0M)	($31.0M)
Changes in deferred profit on PTFI sales to PT Smelting	$0	$0	($112.0M)	—
Other, net	$23.0M	$53.0M	($33.0M)	($44.0M)
Accounts receivable	($521.0M)	$460.0M	$166.0M	$56.0M
Inventories	($709.0M)	($638.0M)	($873.0M)	($573.0M)
Other current assets	($55.0M)	($41.0M)	($29.0M)	($12.0M)
Accounts payable and accrued liabilities	$802.0M	$143.0M	($161.0M)	$0
Accrued income taxes and timing of other tax payments	($855.0M)	$47.0M	$17.0M	($999.0M)
Net cash provided by (used in) operating activities	$5.6B	$7.2B	$5.3B	$5.1B
Capital expenditures	($4.5B)	($4.8B)	($4.8B)	($3.5B)
Acquisition of additional ownership interest in Cerro Verde	$0	($210.0M)	—	—
Loans to PT Smelting for expansion	$0	($28.0M)	($129.0M)	($65.0M)
Other, net	$22.0M	($1.0M)	($30.0M)	($14.0M)
Net cash provided by (used in) investing activities	($4.5B)	($5.0B)	($5.0B)	($3.4B)
Proceeds from debt	$3.2B	$2.3B	$1.8B	$5.7B
Repayments of debt	($2.8B)	($2.7B)	($3.0B)	($4.5B)
Finance lease payments	($37.0M)	($41.0M)	—	—
Common stock	($865.0M)	($865.0M)	($863.0M)	($866.0M)
Noncontrolling interests	($1.3B)	($1.8B)	($625.0M)	($840.0M)
Treasury stock purchases	($107.0M)	($59.0M)	$0	($1.3B)
Proceeds from exercised stock options	$12.0M	$29.0M	$47.0M	$125.0M
Payments for withholding of employee taxes related to stock-based awards	($23.0M)	($35.0M)	($50.0M)	($55.0M)
Contributions from noncontrolling interests	$0	$0	$50.0M	$189.0M
Other, net	$0	$0	($10.0M)	($49.0M)
Net cash used in financing activities	($1.9B)	($3.3B)	($2.6B)	($1.6B)
Net decrease in cash and cash equivalents and restricted cash and cash equivalents	($738.0M)	($1.2B)	($2.3B)	$76.0M
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$4.2B	$4.9B	$6.1B	$8.4B

Freeport-McMoRan Inc cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net income	$2.8B	$1.4B	$3.6B	$2.3B
Depreciation, depletion and amortization	$1.0B	$514.0M	$1.8B	$1.1B
Gain on PTFI mud rush incident insurance settlement	($699.0M)	($699.0M)	—	—
Proceeds from PTFI mud rush incident insurance settlement	$699.0M	—	—	—
Gain on sale of assets	($18.0M)	—	($16.0M)	—
Net charges for environmental and asset retirement obligations, including accretion	$147.0M	$71.0M	$166.0M	$116.0M
Payments for environmental and asset retirement obligations	($96.0M)	($38.0M)	($177.0M)	($113.0M)
Stock-based compensation	$103.0M	$68.0M	$98.0M	$74.0M
Net charges for defined pension and postretirement plans	$24.0M	$12.0M	$43.0M	$29.0M
Pension plan contributions	($40.0M)	($5.0M)	($29.0M)	($9.0M)
Deferred income taxes	$35.0M	$19.0M	($16.0M)	$34.0M
Charges for PTFI social investment programs	$26.0M	$11.0M	$77.0M	$50.0M
Payments for PTFI social investment programs	($24.0M)	($12.0M)	($44.0M)	($41.0M)
Other, net	$28.0M	$28.0M	($21.0M)	($19.0M)
Accounts receivable	$268.0M	$325.0M	($433.0M)	($320.0M)
Inventories	($171.0M)	$201.0M	($113.0M)	($62.0M)
Other current assets	($48.0M)	$0	$46.0M	$16.0M
Accounts payable and accrued liabilities	($362.0M)	($671.0M)	$283.0M	$428.0M
Accrued income taxes and timing of other tax payments	($144.0M)	$284.0M	($293.0M)	($404.0M)
Net cash provided by operating activities	$3.5B	$1.5B	$4.9B	$3.3B
Capital expenditures	($2.1B)	($973.0M)	($3.5B)	($2.4B)
Acquisition of additional ownership interest in Cerro Verde	($107.0M)	—	$0	—
Other, net	$7.0M	($12.0M)	($22.0M)	($1.0M)
Net cash used in investing activities	($2.2B)	($985.0M)	($3.4B)	($2.4B)
Proceeds from debt	$2.1B	$1.1B	$2.2B	$1.6B
Repayments of debt	($2.1B)	($1.1B)	($1.8B)	($1.3B)
Finance lease payments	($24.0M)	($9.0M)	($24.0M)	($15.0M)
Common stock	($434.0M)	($218.0M)	($649.0M)	($433.0M)
Noncontrolling interests	($359.0M)	($225.0M)	($1.3B)	($625.0M)
Treasury stock purchases	($203.0M)	($93.0M)	($107.0M)	($107.0M)
Proceeds from exercised stock options	$22.0M	$19.0M	$6.0M	$2.0M
Payments for withholding of employee taxes related to stock-based awards	($44.0M)	($43.0M)	($22.0M)	($22.0M)
Debt issuance costs	($11.0M)	—	—	—
Net cash used in financing activities	($1.0B)	($534.0M)	($1.7B)	($908.0M)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	$318.0M	($24.0M)	($258.0M)	($87.0M)
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year	$4.2B	$4.2B	$4.9B	$4.9B
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	$4.5B	$4.1B	$4.7B	$4.8B

Freeport-McMoRan Inc score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.