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.
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Freeport-McMoRan Inc. pages available for free this week:
- Statement of Comprehensive Income
- Common-Size Balance Sheet: Assets
- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- Analysis of Reportable Segments
- Analysis of Geographic Areas
- Return on Equity (ROE) since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Revenues
- Aggregate Accruals
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Freeport-McMoRan Inc., consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
Total assets demonstrate a consistent upward trajectory, expanding from $43.6 billion in March 2021 to $59.7 billion by June 2026. This growth is primarily driven by a substantial increase in noncurrent assets, while current assets have remained relatively stable after an initial period of growth.
- Noncurrent Asset Expansion
- The most significant driver of balance sheet growth is Property, Plant, Equipment, and Mine Development costs, which rose steadily from $29.8 billion in March 2021 to $41.7 billion by June 2026. This suggests a sustained period of heavy capital investment in mining infrastructure and capacity development. In contrast, long-term mill and leach stockpiles experienced a gradual decline from $1.5 billion to $1.1 billion over the same period.
- Liquidity and Cash Management
- Cash and cash equivalents exhibited a period of rapid accumulation, peaking at $9.5 billion in June 2022. Following this peak, a downward trend occurred, with balances stabilizing between $3.7 billion and $4.4 billion from late 2024 through June 2026. Restricted cash appeared as a line item in September 2023, fluctuating between $230 million and $1.2 billion, indicating changes in earmarked liquidity requirements.
- Inventory Growth Patterns
- Total inventories showed a strong and consistent increase, nearly doubling from $4.1 billion in March 2021 to $7.9 billion by June 2026. This increase is attributed to growth across all primary components: product values rose from $1.5 billion to $3.4 billion, and materials and supplies grew from $1.6 billion to $2.9 billion. This trend suggests either an increase in production volumes, strategic stockpiling, or higher valuation of stored materials.
- Working Capital Components
- Trade accounts receivable remained volatile, fluctuating between a low of $578 million in December 2024 and a peak of $1.5 billion in March 2022. Value added and other tax receivables remained relatively stable, generally fluctuating between $400 million and $750 million. Notably, new asset categories emerged toward the end of the period, including long-term tax receivables and a specific insurance settlement receivable related to the PTFI mud rush incident in March 2026.
Overall, the asset structure shifted toward a higher concentration of noncurrent assets, reflecting a strategic emphasis on long-term infrastructure investment and an increase in operational inventory, funded by a reduction in peak cash reserves.