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

	Sep 30, 2025	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	4,318)	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)	230)	460)	888)	1,117)	1,030)	1,034)	1,208)	697)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Trade accounts receivable	916)	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	548)	474)	565)	564)	570)	428)	744)	455)	488)	417)	550)	459)	485)	435)	444)	574)	591)	578)	522)	520)	464)	646)	591)
Product	2,864)	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	2,633)	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	1,501)	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	6,998)	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	554)	547)	575)	535)	436)	389)	385)	375)	406)	472)	473)	492)	647)	608)	529)	523)	477)	390)	361)	341)	419)	517)	795)
Current assets	13,564)	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	40,257)	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	1,091)	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	1,916)	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	43,264)	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	56,828)	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 analysis of the quarterly financial data reveals several notable trends and patterns across various asset categories over the reported periods.

Cash and cash equivalents: This asset category generally exhibits an upward trend from early 2020 through mid-2022, peaking around June 2022. Subsequently, a gradual decline is observed through the end of 2024, with fluctuations in quarterly values. This may indicate changes in liquidity management or cash flow volatility in recent periods.
Restricted cash and cash equivalents: Data for this item begins in early 2023, showing an initial increase followed by a decline towards late 2025. This could reflect adjustments in regulatory or contractual cash restrictions.
Trade accounts receivable: Receivables generally increased from 2020 to early 2022, reaching a peak in the first quarter of 2022 before experiencing a notable decrease in mid-2022. The pattern shows volatility afterward, with some recovery but no definitive long-term upward trend by late 2025, suggesting fluctuations in sales volume or credit terms.
Value added and other tax receivables: This category remains relatively stable, with minor fluctuations across periods. No significant trend is discernible, implying consistent tax receivables management.
Product Inventory: Inventory balances increased steadily from 2020 through 2025, indicating accumulation of product stock over time. This growth may reflect production exceeding sales or strategic stockpiling.
Materials and supplies, net: A similar upward trend is apparent in materials and supplies, increasing consistently each quarter. This suggests ongoing investment in raw materials and operational inputs.
Mill and leach stockpiles: These stockpiles show minor fluctuations with a modest overall increase, peaking around the end of 2024. The somewhat stable nature suggests steady processing activities complemented by stockpile management adjustments.
Total Inventories: Combining product, materials, and stockpiles, total inventory levels rise notably over the periods analyzed, pointing to expanded inventory holdings in support of operational needs or future production plans.
Other current assets: This category shows volatility, with values fluctuating without a clear trend, possibly reflecting variability in miscellaneous receivables or short-term assets.
Current assets: Current assets increased markedly from 2020 through mid-2021, followed by relative stability with minor declines and recoveries. The trend suggests growth in short-term asset base early on, stabilizing in subsequent periods.
Property, plant, equipment and mine development costs, net: This long-term asset category displays steady growth throughout the entire time frame, indicating sustained capital expenditure and asset development efforts.
Long-term mill and leach stockpiles: While experiencing some decreases after initial peaks, these assets remain substantial but exhibit a slow declining trend towards the end of the dataset, which may correspond to consumption or inventory reclassification.
Other assets: This category remains relatively stable with minor fluctuations, suggesting consistent holdings of miscellaneous long-term assets.
Noncurrent assets: A steady increase in noncurrent assets is observed, aligned with growth in capital investments, offset somewhat by decreases in certain stockpiled categories.
Total assets: Total assets show a continuous upward trajectory from early 2020 through most of the reporting periods, reflecting overall growth in the asset base, driven primarily by increases in both current and noncurrent assets.

In summary, the financial data indicates expansion in asset holdings, particularly in inventories and long-term assets, alongside fluctuations in liquidity and receivables. These patterns suggest active management of operational inputs and capital investments, with periodic adjustments to working capital components.

Assets: Selected Items

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Current 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