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

	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	4,385)	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	460)	888)	1,117)	1,030)	1,034)	1,208)	697)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Trade accounts receivable	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	565)	564)	570)	428)	744)	455)	488)	417)	550)	459)	485)	435)	444)	574)	591)	578)	522)	520)	464)	646)	591)
Product	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	2,418)	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	1,436)	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	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	575)	535)	436)	389)	385)	375)	406)	472)	473)	492)	647)	608)	529)	523)	477)	390)	361)	341)	419)	517)	795)
Current assets	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	39,200)	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	1,169)	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	1,851)	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	42,220)	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	56,022)	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)

Liquidity and Cash Position: The cash and cash equivalents balance demonstrates a general upward trend from March 2020 through June 2022, peaking near $9.5 billion, before experiencing a gradual decline through March 2025 to approximately $4.4 billion. Restricted cash appears only from June 2023 onwards, fluctuating between $460 million and $1.2 billion, indicating possibly new regulatory or contractual constraints on cash usage.
Receivables: Trade accounts receivable show volatility with pronounced peaks and troughs; notably, a high of $1.5 billion in March 2022 and March 2024, and significant declines around mid-2023 and early 2025. Value added and other tax receivables remain relatively stable with limited fluctuations, generally oscillating between $400 million and $700 million throughout the periods assessed.
Inventory Components: Product inventories steadily increase over time from $1.1 billion in early 2020 to over $3.2 billion by March 2025, indicating accumulation or higher output levels. Materials and supplies follow a gradual, consistent growth pattern from approximately $1.6 billion to $2.4 billion in the same timeframe. Mill and leach stockpiles portray a modest upward trend with some minor fluctuations, peaking around $1.4 billion in late 2023 and early 2024 before stabilizing towards the end of the period.
Total Inventories and Current Assets: Overall inventories, aggregating product, materials, and stockpiles, reflect steady growth from $3.9 billion in March 2020 to roughly $7.1 billion by March 2025, indicating an increase in asset holdings likely related to production or market demand expectations. Other current assets demonstrate a decreasing trend from early 2020 through 2021, but stabilize and slightly recover towards 2024 and 2025. Current assets as a whole rise substantially up to late 2021, reaching nearly $15 billion, then experience fluctuations before a slight decline to $13.8 billion as of March 2025.
Long-Term Assets: Property, plant, equipment, and mine development costs reveal a consistent upward trend reaching $39.2 billion by March 2025, reflecting ongoing investment in fixed assets. Conversely, long-term mill and leach stockpiles decline steadily from a high around $1.4 billion to approximately $1.2 billion, suggesting depletion or utilization over time. Other noncurrent assets remain relatively stable with minor fluctuations, reflecting consistent asset base maintenance.
Total Assets: Total assets show a gradual increase from $40.2 billion in early 2020 to $56 billion by early 2025. This growth is driven primarily by increases in property, plant, equipment, and inventories, partially offset by declines in cash reserves and some components of receivables and long-term stockpiles.

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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