Balance Sheet: Liabilities and Stockholders’ Equity
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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Freeport-McMoRan Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in millions

	Dec 31, 2025	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
Accounts payable and accrued liabilities	4,565)	4,098)	4,288)	4,078)	4,057)	3,824)	3,910)	3,672)	3,729)	3,724)	3,642)	3,836)	4,027)	3,947)	3,853)	3,163)	3,495)	2,949)	3,106)	2,866)
Accrued income taxes	456)	528)	389)	857)	859)	1,072)	898)	1,322)	786)	489)	531)	846)	744)	439)	507)	1,392)	1,541)	1,237)	919)	647)
Current portion of debt	466)	383)	338)	495)	41)	769)	768)	769)	766)	35)	37)	49)	1,037)	1,032)	1,038)	1,365)	372)	897)	1,057)	656)
Current portion of environmental and asset retirement obligations	313)	299)	298)	296)	320)	364)	342)	325)	316)	395)	361)	333)	320)	365)	317)	316)	264)	329)	334)	331)
Dividends payable	219)	218)	218)	217)	219)	218)	218)	217)	218)	217)	217)	217)	217)	216)	217)	218)	220)	111)	111)	111)
Current liabilities	6,019)	5,526)	5,531)	5,943)	5,496)	6,247)	6,136)	6,305)	5,815)	4,860)	4,788)	5,281)	6,345)	5,999)	5,932)	6,454)	5,892)	5,523)	5,527)	4,611)
Long-term debt, less current portion	8,913)	8,915)	8,913)	8,909)	8,907)	8,910)	8,658)	8,656)	8,656)	9,370)	9,458)	9,586)	9,583)	9,658)	10,054)	8,256)	9,078)	8,768)	8,638)	9,153)
Environmental and asset retirement obligations, less current portion	5,541)	5,457)	5,463)	5,428)	5,404)	5,103)	5,083)	5,059)	4,624)	4,645)	4,566)	4,493)	4,463)	4,223)	4,170)	4,145)	4,116)	3,688)	3,721)	3,720)
Deferred income taxes	4,622)	4,359)	4,410)	4,402)	4,376)	4,492)	4,491)	4,500)	4,453)	4,399)	4,343)	4,305)	4,269)	4,316)	4,297)	4,282)	4,234)	4,500)	4,486)	4,446)
Other liabilities	2,306)	2,174)	2,179)	2,126)	1,887)	1,782)	1,581)	1,573)	1,648)	1,697)	1,725)	1,596)	1,562)	1,550)	1,613)	1,653)	1,683)	1,907)	2,129)	2,140)
Noncurrent liabilities	21,382)	20,905)	20,965)	20,865)	20,574)	20,287)	19,813)	19,788)	19,381)	20,111)	20,092)	19,980)	19,877)	19,747)	20,134)	18,336)	19,111)	18,863)	18,974)	19,459)
Total liabilities	27,401)	26,431)	26,496)	26,808)	26,070)	26,534)	25,949)	26,093)	25,196)	24,971)	24,880)	25,261)	26,222)	25,746)	26,066)	24,790)	25,003)	24,386)	24,501)	24,070)
Common stock	163)	163)	163)	163)	162)	162)	162)	162)	162)	162)	162)	162)	161)	161)	161)	161)	160)	160)	160)	160)
Capital in excess of par value	23,680)	23,660)	23,642)	23,627)	23,797)	23,997)	24,321)	24,488)	24,637)	24,833)	25,028)	25,227)	25,322)	25,483)	25,661)	25,835)	25,875)	26,023)	26,084)	26,080)
Retained earnings (accumulated deficit)	1,385)	1,196)	738)	182)	(170)	(444)	(970)	(1,586)	(2,059)	(2,447)	(2,901)	(3,244)	(3,907)	(4,604)	(5,008)	(5,848)	(7,375)	(8,481)	(9,880)	(10,963)
Accumulated other comprehensive loss	(305)	(310)	(311)	(313)	(314)	(273)	(274)	(274)	(274)	(317)	(318)	(319)	(320)	(385)	(386)	(387)	(388)	(572)	(576)	(580)
Common stock held in treasury	(6,024)	(6,024)	(6,024)	(5,971)	(5,894)	(5,894)	(5,835)	(5,817)	(5,773)	(5,772)	(5,769)	(5,769)	(5,701)	(5,701)	(5,539)	(4,895)	(4,292)	(3,777)	(3,777)	(3,777)
Stockholders’ equity	18,899)	18,685)	18,208)	17,688)	17,581)	17,548)	17,404)	16,973)	16,693)	16,459)	16,202)	16,057)	15,555)	14,954)	14,889)	14,866)	13,980)	13,353)	12,011)	10,920)
Noncontrolling interests	11,867)	11,712)	11,788)	11,526)	11,197)	11,318)	11,282)	11,132)	10,617)	10,218)	9,825)	9,591)	9,316)	9,227)	9,158)	9,176)	9,039)	9,178)	8,924)	8,653)
Total equity	30,766)	30,397)	29,996)	29,214)	28,778)	28,866)	28,686)	28,105)	27,310)	26,677)	26,027)	25,648)	24,871)	24,181)	24,047)	24,042)	23,019)	22,531)	20,935)	19,573)
Total liabilities and equity	58,167)	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)

Over the observed period, the company’s liabilities and stockholders’ equity exhibited notable fluctuations. Total liabilities generally increased, though with some quarterly variations, while stockholders’ equity demonstrated a consistent upward trend, punctuated by periods of more rapid growth. A detailed examination of specific liability and equity components reveals key patterns.

Current Liabilities: Current liabilities displayed considerable volatility, peaking at US$5,527 million in June 2021 and again at US$6,345 million in December 2022. A decrease was observed in the first half of 2023, followed by an increase in the latter half of 2023 and into the first half of 2025, reaching US$6,019 million in September 2025. Accounts payable and accrued liabilities constituted a significant portion of current liabilities, generally ranging between US$3,600 million and US$4,300 million, with a gradual increase over the period. Accrued income taxes also contributed substantially, with peaks in the earlier quarters and a more moderate range in later periods. The current portion of debt fluctuated significantly, particularly with a large decrease in December 2021 and a subsequent increase in March 2022, followed by a decrease in 2024.
Noncurrent Liabilities: Noncurrent liabilities remained relatively stable between approximately US$18,800 million and US$20,200 million for much of the period. A noticeable increase occurred in 2022, reaching US$20,134 million in June, before declining slightly. Long-term debt, less current portion, was the largest component, consistently above US$8,500 million. Environmental and asset retirement obligations also represented a substantial portion, increasing from US$3,720 million in March 2021 to US$5,541 million in December 2025. Deferred income taxes remained consistently around US$4,300 million to US$4,600 million. Other liabilities showed a gradual increase over the period, rising from US$2,140 million to US$2,306 million.
Stockholders’ Equity: Stockholders’ equity demonstrated a clear upward trajectory, increasing from US$19,573 million in March 2021 to US$30,766 million in December 2025. Common stock remained relatively constant, while capital in excess of par value also showed a steady, though less dramatic, increase. Retained earnings experienced a significant shift from a substantial accumulated deficit of US$-10,963 million in March 2021 to a positive balance of US$1,385 million in December 2025, indicating improved profitability and earnings retention. Accumulated other comprehensive loss remained consistently negative, though its magnitude decreased over time. Common stock held in treasury decreased significantly, transitioning from a substantial negative value to a less pronounced negative value, suggesting share repurchases. Noncontrolling interests also increased over the period, contributing to the overall growth in total equity.

The combined effect of these trends resulted in an overall increase in total liabilities and equity, from US$43,643 million in March 2021 to US$58,167 million in December 2025. The increasing equity base, driven by the recovery in retained earnings, suggests strengthening financial health. The fluctuations in current liabilities warrant continued monitoring, while the relatively stable noncurrent liabilities provide a degree of predictability. The overall trend indicates a company that has improved its financial position over the analyzed timeframe.

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Freeport-McMoRan Inc. (NYSE:FCX)

Balance Sheet: Liabilities and Stockholders’ Equity Quarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data