Freeport-McMoRan, Inc. (FCX) financial statements (2022 and earlier)

Company profile

Business Address 333 NORTH CENTRAL AVENUE
PHOENIX, AZ 85004
State of Incorp. DE
Fiscal Year End December 31
SIC 10 - Metal Mining (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments 3,6572,0204,2174,4474,245
Cash and cash equivalents 3,6572,0204,2174,4474,245
Restricted cash and investments 97100110  
Receivables 1,4171,1691,3241,5732,096
Inventory, net of allowances, customer advances and progress billings (32)(24)(24)1,137969
Inventory (32)(24)(24)1,137969
Disposal group, including discontinued operation    598344
Other current assets 341655422270110
Other undisclosed current assets 3,8233,9954,6712,7542,671
Total current assets: 9,3037,91510,72010,77910,435
Noncurrent Assets
Inventory, Noncurrent 1,4631,4251,3141,4091,633
Nontrade receivables    459144
Property, plant and equipment 29,81829,58428,01022,83623,219
Oil and gas property, full cost method    (27,445)(27,433)
Long-term investments and receivables    98121
Long-term investments    3050
Due from related parties    6871
Intangible assets, net (including goodwill)    306305
Intangible assets, net (excluding goodwill)    306305
Restricted cash and investments    189182
Other noncurrent assets 1,5601,8852,1722,2701,956
Other undisclosed noncurrent assets    26,40126,755
Total noncurrent assets: 32,84132,89431,49626,52326,882
TOTAL ASSETS: 42,14440,80942,21637,30237,317
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including: 2,7082,5762,6252,3212,393
Accounts payable 1,4731,6541,6611,3801,540
Accrued liabilities   29  
Employee-related liabilities 403318351346301
Taxes payable 400198274129156
Interest and dividends payable 243251256168129
Other undisclosed accounts payable and accrued liabilities 18915554298267
Debt 345171,4141,232
Accrued environmental loss contingencies 83106132134129
Asset retirement obligation 268330317254240
Disposal group, including discontinued operation    350205
Self insurance reserve 91111107
Other undisclosed current liabilities 31518122755559
Total current liabilities: 3,4173,2093,3295,0384,265
Noncurrent Liabilities
Long-term debt and lease obligation 9,6779,82111,12411,70314,795
Long-term debt, excluding current maturities 9,6779,82111,12411,70314,795
Liabilities, other than long-term debt 6,6776,1626,2629,2659,000
Asset retirement obligations  2,175 2,3262,395
Deferred tax liabilities, net4,0323,6223,768
Deferred income tax liabilities 4,408 
Accrued environmental loss contingencies  1,455 1,3051,092
Other liabilities 2,2692,4912,2302,0121,745
Self insurance reserve  41   
Other undisclosed noncurrent liabilities 3,7054,1693,609  
Total noncurrent liabilities: 20,05920,15220,99520,96823,795
Total liabilities: 23,47623,36124,32426,00628,060
Stockholders' equity
Stockholders' equity attributable to parent 10,1749,2989,7987,9776,051
Common stock 159158158158157
Treasury stock, value (3,758)(3,734)(3,727)(3,723)(3,708)
Additional paid in capital 26,03725,83026,01326,75126,690
Accumulated other comprehensive loss (583)(676)(605)(487)(548)
Accumulated deficit (11,681)(12,280)(12,041)(14,722)(16,540)
Stockholders' equity attributable to noncontrolling interest 8,4948,1508,0943,3193,206
Total stockholders' equity: 18,66817,44817,89211,2969,257
TOTAL LIABILITIES AND EQUITY: 42,14440,80942,21637,30237,317

Income statement (P&L) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues 14,19814,40218,62816,40314,830
Cost of revenue (11,655)(13,105)(13,445)(12,022)(17,580)
Cost of goods and services sold (11,559)(12,926)(1,754)(12,022)(13,263)
Gross profit: 2,5431,2975,1834,381(2,750)
Operating expenses (106)(206)(429)(403)42
Other undisclosed operating loss    (345)(84)
Operating income (loss): 2,4371,0914,7543,633(2,792)
Nonoperating income (expense) 59(138)7612549
Investment income, nonoperating    81 
Other nonoperating income (expense) 59(138)764949
Interest and debt expense (101)(27)72126
Other undisclosed loss from continuing operations before equity method investments, income taxes (598)(620)(945)(877)(755)
Income (loss) from continuing operations before equity method investments, income taxes: 1,7973063,8922,902(3,472)
Income from equity method investments 121281011
Income (loss) from continuing operations before income taxes: 1,8093183,9002,912(3,461)
Income tax expense (944)(510)(991)(883)(371)
Income (loss) from continuing operations: 865(192)2,9092,029(3,832)
Income (loss) from discontinued operations  3(15)66(193)
Net income (loss): 865(189)2,8942,095(4,025)
Net loss attributable to noncontrolling interest  (50)   
Net income (loss) attributable to parent: 865(239)2,8942,095(4,025)
Preferred stock dividends and other adjustments     161
Other undisclosed net loss available to common stockholders, basic (266) (292)(278)(290)
Net income (loss) available to common stockholders, basic: 599(239)2,6021,817(4,154)
Other undisclosed net loss available to common stockholders, diluted (3)(3)(4)(4)(3)
Net income (loss) available to common stockholders, diluted: 596(242)2,5981,813(4,157)

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net income (loss): 865(189)2,8942,095(4,025)
Other comprehensive income (loss) 90(68)(34)69(43)
Comprehensive income (loss): 955(257)2,8602,164(4,068)
Comprehensive loss, net of tax, attributable to noncontrolling interest (263)(53)(291)(286)(292)
Other undisclosed comprehensive income, net of tax, attributable to parent     161
Comprehensive income (loss), net of tax, attributable to parent: 692(310)2,5691,878(4,199)

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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