Stock Analysis on Net

Freeport-McMoRan Inc. (NYSE:FCX)

Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Freeport-McMoRan Inc., consolidated income statement

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Revenues 25,455 22,855 22,780 22,845 14,198
Production and delivery (15,554) (13,627) (13,070) (12,032) (10,127)
Depreciation, depletion and amortization (2,241) (2,068) (2,019) (1,998) (1,528)
Cost of sales (17,795) (15,695) (15,089) (14,030) (11,655)
Gross profit 7,660 7,160 7,691 8,815 2,543
Selling, general and administrative expenses (513) (479) (420) (383) (370)
Mining exploration and research expenses (156) (137) (115) (55) (50)
Environmental obligations and shutdown costs (127) (319) (121) (91) (159)
Net gain on sales of assets 2 80 473
Operating income 6,864 6,225 7,037 8,366 2,437
Interest expense, net (319) (515) (560) (602) (598)
Net gain (loss) on early extinguishment of debt 10 31 (101)
Other income (expense), net 362 286 207 (105) 59
Income before income taxes and equity in affiliated companies’ net earnings 6,907 6,006 6,715 7,659 1,797
Provision for income taxes (2,523) (2,270) (2,267) (2,299) (944)
Equity in affiliated companies’ net earnings 15 15 31 5 12
Net income 4,399 3,751 4,479 5,365 865
Net income attributable to noncontrolling interests (2,510) (1,903) (1,011) (1,059) (266)
Net income attributable to common stockholders 1,889 1,848 3,468 4,306 599

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).

Income statement item Description The company
Revenues Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Freeport-McMoRan Inc. revenues increased from 2022 to 2023 and from 2023 to 2024.
Operating income The net result for the period of deducting operating expenses from operating revenues. Freeport-McMoRan Inc. operating income decreased from 2022 to 2023 but then increased from 2023 to 2024 not reaching 2022 level.
Income before income taxes and equity in affiliated companies’ net earnings Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Freeport-McMoRan Inc. income before income taxes and equity in affiliated companies’ net earnings decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.
Net income attributable to common stockholders The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Freeport-McMoRan Inc. net income attributable to common stockholders decreased from 2022 to 2023 but then slightly increased from 2023 to 2024.