Stock Analysis on Net

Freeport-McMoRan Inc. (NYSE:FCX)

Analysis of Property, Plant and Equipment

Microsoft Excel

Property, Plant and Equipment Disclosure

Freeport-McMoRan Inc., balance sheet: property, plant and equipment

US$ in millions

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Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Proven and probable mineral reserves 7,159 7,160 7,159 7,142 7,142
VBPP 358 359 360 376 376
Mine development and other 12,828 12,325 12,314 11,309 10,686
Buildings and infrastructure 10,667 10,165 9,746 9,412 9,214
Machinery and equipment 16,337 15,246 14,790 14,399 14,235
Mobile equipment 5,597 4,986 4,756 4,605 4,495
Construction in progress 9,364 6,885 4,419 2,477 1,454
Oil and gas properties 27,485 27,441 27,356 27,298 27,281
Property, plant, equipment and mine development costs, gross 89,795 84,567 80,900 77,018 74,883
Accumulated depreciation, depletion and amortization (51,281) (49,272) (48,273) (46,673) (45,065)
Property, plant, equipment and mine development costs, net 38,514 35,295 32,627 30,345 29,818

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).

Item Description The company
Property, plant, equipment and mine development costs, gross Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Freeport-McMoRan Inc. property, plant, equipment and mine development costs, gross increased from 2022 to 2023 and from 2023 to 2024.
Property, plant, equipment and mine development costs, net Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Freeport-McMoRan Inc. property, plant, equipment and mine development costs, net increased from 2022 to 2023 and from 2023 to 2024.

Asset Age Ratios (Summary)

Freeport-McMoRan Inc., asset age ratios

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Average age ratio 57.11% 58.26% 59.67% 60.60% 60.18%

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).

Asset age ratio Description The company
Average age ratio As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient. Freeport-McMoRan Inc. average age ratio of depreciable property, plant and equipment improved from 2022 to 2023 and from 2023 to 2024.

Average Age

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Accumulated depreciation, depletion and amortization 51,281 49,272 48,273 46,673 45,065
Property, plant, equipment and mine development costs, gross 89,795 84,567 80,900 77,018 74,883
Asset Age Ratio
Average age1 57.11% 58.26% 59.67% 60.60% 60.18%

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 Average age = 100 × Accumulated depreciation, depletion and amortization ÷ Property, plant, equipment and mine development costs, gross
= 100 × 51,281 ÷ 89,795 = 57.11%

Asset age ratio Description The company
Average age As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient. Freeport-McMoRan Inc. average age ratio of depreciable property, plant and equipment improved from 2022 to 2023 and from 2023 to 2024.