Balance Sheet: Assets
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Freeport-McMoRan Inc., consolidated balance sheet: assets (quarterly data)

US$ in millions

	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Cash and cash equivalents	4,490)	4,385)	3,923)	5,000)	5,273)	5,208)	4,758)	5,745)	6,683)	6,852)	8,146)	8,578)	9,492)	8,338)	8,068)	7,672)	6,313)	4,580)	3,657)	2,403)	1,465)	1,602)
Restricted cash and cash equivalents	230)	460)	888)	1,117)	1,030)	1,034)	1,208)	697)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Trade accounts receivable	941)	743)	578)	979)	1,128)	1,494)	1,209)	792)	675)	1,134)	1,336)	844)	977)	1,537)	1,168)	931)	1,100)	1,248)	892)	893)	717)	515)
Value added and other tax receivables	474)	565)	564)	570)	428)	744)	455)	488)	417)	550)	459)	485)	435)	444)	574)	591)	578)	522)	520)	464)	646)	591)
Product	2,961)	3,220)	3,038)	2,709)	2,755)	2,356)	2,472)	2,415)	2,214)	2,241)	1,833)	1,577)	1,507)	1,486)	1,658)	1,417)	1,596)	1,542)	1,285)	1,278)	1,176)	1,134)
Materials and supplies, net	2,516)	2,418)	2,382)	2,328)	2,283)	2,202)	2,169)	2,131)	2,098)	2,056)	1,964)	1,873)	1,776)	1,741)	1,669)	1,617)	1,616)	1,596)	1,594)	1,610)	1,604)	1,614)
Mill and leach stockpiles	1,477)	1,436)	1,388)	1,406)	1,436)	1,419)	1,419)	1,403)	1,498)	1,440)	1,383)	1,369)	1,387)	1,227)	1,170)	1,086)	1,006)	1,007)	1,014)	1,004)	1,030)	1,106)
Inventories	6,954)	7,074)	6,808)	6,443)	6,474)	5,977)	6,060)	5,949)	5,810)	5,737)	5,180)	4,819)	4,670)	4,454)	4,497)	4,120)	4,218)	4,145)	3,893)	3,892)	3,810)	3,854)
Other current assets	547)	575)	535)	436)	389)	385)	375)	406)	472)	473)	492)	647)	608)	529)	523)	477)	390)	361)	341)	419)	517)	795)
Current assets	13,636)	13,802)	13,296)	14,545)	14,722)	14,842)	14,065)	14,077)	14,057)	14,746)	15,613)	15,373)	16,182)	15,302)	14,830)	13,791)	12,599)	10,856)	9,303)	8,071)	7,155)	7,357)
Property, plant, equipment and mine development costs, net	39,835)	39,200)	38,514)	37,750)	36,784)	36,197)	35,295)	34,535)	33,845)	33,159)	32,627)	31,814)	31,200)	30,708)	30,345)	30,102)	29,836)	29,775)	29,818)	29,911)	29,936)	29,899)
Long-term mill and leach stockpiles	1,122)	1,169)	1,225)	1,257)	1,286)	1,313)	1,336)	1,327)	1,241)	1,235)	1,252)	1,194)	1,230)	1,377)	1,387)	1,450)	1,473)	1,475)	1,463)	1,463)	1,446)	1,272)
Other assets	1,899)	1,851)	1,813)	1,848)	1,843)	1,846)	1,810)	1,709)	1,764)	1,769)	1,601)	1,546)	1,501)	1,445)	1,460)	1,574)	1,528)	1,537)	1,560)	1,654)	1,693)	1,691)
Noncurrent assets	42,856)	42,220)	41,552)	40,855)	39,913)	39,356)	38,441)	37,571)	36,850)	36,163)	35,480)	34,554)	33,931)	33,530)	33,192)	33,126)	32,837)	32,787)	32,841)	33,028)	33,075)	32,862)
Total assets	56,492)	56,022)	54,848)	55,400)	54,635)	54,198)	52,506)	51,648)	50,907)	50,909)	51,093)	49,927)	50,113)	48,832)	48,022)	46,917)	45,436)	43,643)	42,144)	41,099)	40,230)	40,219)

The financial data displays various items over multiple quarterly periods. Several notable trends and fluctuations are observable in the analyzed metrics.

Cash and Cash Equivalents: The balance initially rose significantly from $1,602 million in March 2020 to peak around $9,492 million by June 2022. Subsequently, a declining trend is observed throughout 2023 and into 2024, falling to $3,923 million by December 2024 before slightly recovering to $4,490 million in June 2025. This suggests initial strong liquidity growth followed by intermittent drawdowns or increased uses of cash.
Restricted Cash and Cash Equivalents: Data is sparse until June 2023, at which point values appear, showing a peak at $1,208 million in September 2023 and a decreasing pattern thereafter to $230 million by June 2025, indicating either a release or expenditure of restricted cash over time.
Trade Accounts Receivable: The receivables significantly grow from $515 million in March 2020 to a high of $1,537 million in March 2022. After a downturn in mid-2022, the figure remains volatile but reaches a notable peak again at $1,494 million in March 2024 before declining to $941 million in June 2025. This pattern may reflect fluctuations in sales or collection efficiency.
Value Added and Other Tax Receivables: These receivables demonstrate moderate volatility, generally fluctuating between $400 million and $600 million. Peaks occur around March 2024, indicating changes in tax credits or receivable collection cycles.
Product: The product value exhibits a consistent upward trend, growing from $1,134 million in March 2020 to a peak of $3,220 million in March 2025. This steady increase reflects expanded production or inventory buildup over the periods.
Materials and Supplies, Net: A steady increase from $1,614 million in March 2020 to $2,516 million by June 2025 indicates continued accumulation or investment in materials and supplies supporting operations.
Mill and Leach Stockpiles: The stockpiles initially decline slightly from $1,106 million to about $1,004 million in September 2020 but then rise steadily, reaching $1,477 million in June 2025. This may indicate strategic inventory management or operational scaling.
Inventories: Inventories show a consistent increase from $3,854 million in March 2020 to a peak of $7,074 million in March 2025, followed by a slight reduction thereafter. The doubling over five years suggests increased inventory levels, potentially tied to production increases or stockpiling ahead of demand.
Other Current Assets: Other current assets decreased from $795 million in March 2020 to a low in the 300-400 million range from late 2021 onward, with some fluctuation. This decline may indicate asset reclassification or utilization of certain assets.
Current Assets: Current assets experienced a marked increase from $7,357 million in March 2020, peaking at over $16,000 million by June 2022. Subsequently, a gradual decline appears through 2023 and into 2025, ending near the $13,636 million level. This overall rise followed by stabilization aligns with the cash, receivable, and inventory trends.
Property, Plant, Equipment, and Mine Development Costs, Net: The net balance of these long-term assets increased steadily from $29,899 million in March 2020 to $39,835 million in June 2025. This continuous growth attests to ongoing capital investments and mine development activities.
Long-Term Mill and Leach Stockpiles: These stockpiles fluctuated mildly but showed a decreasing trend from $1,272 million in March 2020 to $1,122 million in June 2025, signaling possible consumption or devaluation of long-term stockpiles.
Other Assets: Other assets remain relatively stable between $1,560 million and $1,900 million throughout the periods, with slight increases toward the latter part of the timeline.
Noncurrent Assets: Noncurrent assets exhibit a gradual upward trend from $32,862 million in March 2020 to $42,856 million by June 2025, mirroring investments in long-term property and equipment.
Total Assets: Total assets grew steadily from $40,219 million in March 2020 to peak values above $56,000 million between 2024 and 2025. Some fluctuations are evident near the end of the period, with minor contractions. Overall, this growth profile signifies expansion in asset base over the analysis horizon.

Assets: Selected Items

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Freeport-McMoRan Inc. (NYSE:FCX)

Balance Sheet: Assets Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data