Total Debt (Carrying Amount)
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
Debt item | Description | The company |
---|---|---|
Total long-term debt, including current portion (carrying amount) | Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations. | Freeport-McMoRan Inc. total debt decreased from 2022 to 2023 and from 2023 to 2024. |
Total Debt (Fair Value)
Dec 31, 2024 | |
---|---|
Selected Financial Data (US$ in millions) | |
Total long-term debt, including current portion (fair value) | 8,807) |
Financial Ratio | |
Debt, fair value to carrying amount ratio | 0.98 |
Based on: 10-K (reporting date: 2024-12-31).
Weighted-average Interest Rate on Debt
Weighted-average interest rate on debt: 5.23%
Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
---|---|---|---|
5.00% | 449) | 22) | |
4.13% | 484) | 20) | |
4.38% | 431) | 19) | |
5.25% | 469) | 25) | |
4.25% | 447) | 19) | |
4.63% | 589) | 27) | |
5.40% | 724) | 39) | |
5.45% | 1,688) | 92) | |
4.76% | 747) | 36) | |
5.32% | 1,491) | 79) | |
6.20% | 745) | 46) | |
7.13% | 115) | 8) | |
9.50% | 119) | 11) | |
6.13% | 119) | 7) | |
Total | 8,617) | 451) | |
5.23% |
Based on: 10-K (reporting date: 2024-12-31).
1 US$ in millions
2 Weighted-average interest rate = 100 × 451 ÷ 8,617 = 5.23%
Interest Costs Incurred
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
Debt item | Description | The company |
---|---|---|
Interest expense, net | Amount of the cost of borrowed funds accounted for as interest expense for debt. | Freeport-McMoRan Inc. interest expense, net decreased from 2022 to 2023 and from 2023 to 2024. |
Capitalized interest | Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred. | Freeport-McMoRan Inc. capitalized interest increased from 2022 to 2023 and from 2023 to 2024. |
Interest costs | Total interest costs incurred during the period and either capitalized or charged against earnings. |
Adjusted Interest Coverage Ratio
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
2024 Calculations
1 Interest coverage ratio (without capitalized interest) = EBIT ÷ Interest expense, net
= 7,241 ÷ 319 = 22.70
2 Adjusted interest coverage ratio (with capitalized interest) = EBIT ÷ Interest costs
= 7,241 ÷ 710 = 10.20
Solvency ratio | Description | The company |
---|---|---|
Adjusted interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments (including capitalized interest). | Freeport-McMoRan Inc. adjusted interest coverage ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level. |