Analysis of Reportable Segments
Freeport-McMoRan Inc. operates in 6 segments: North America Copper Mines; South America Operations; Indonesia Operations; Molybdenum Mines; Rod & Refining; and Atlantic Copper Smelting & Refining.
Segment Profit Margin
Freeport-McMoRan Inc., profit margin by reportable segment
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| North America Copper Mines | 12.13% | 17.19% | 28.63% | 43.63% | 19.52% |
| South America Operations | 28.45% | 24.97% | 26.03% | 42.03% | 18.51% |
| Indonesia Operations | 54.49% | 56.04% | 54.59% | 52.35% | 36.52% |
| Molybdenum Mines | -1.86% | 25.41% | 23.36% | 27.70% | -33.78% |
| Rod & Refining | 0.46% | 0.34% | -0.36% | -0.02% | -0.52% |
| Atlantic Copper Smelting & Refining | 1.62% | 1.28% | -2.50% | 0.71% | 1.23% |
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).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | North America Copper Mines | North America Copper Mines segment profit margin ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
| South America Operations | South America Operations segment profit margin ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level. | |
| Indonesia Operations | Indonesia Operations segment profit margin ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. | |
| Molybdenum Mines | Molybdenum Mines segment profit margin ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. | |
| Rod & Refining | Rod & Refining segment profit margin ratio improved from 2022 to 2023 and from 2023 to 2024. | |
| Atlantic Copper Smelting & Refining | Atlantic Copper Smelting & Refining segment profit margin ratio improved from 2022 to 2023 and from 2023 to 2024. |
Segment Profit Margin: North America Copper Mines
Freeport-McMoRan Inc.; North America Copper Mines; segment profit margin calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income (loss) | 757) | 1,086) | 1,921) | 2,978) | 852) |
| Revenues | 6,240) | 6,316) | 6,710) | 6,825) | 4,364) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 12.13% | 17.19% | 28.63% | 43.63% | 19.52% |
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).
1 2024 Calculation
Segment profit margin = 100 × Operating income (loss) ÷ Revenues
= 100 × 757 ÷ 6,240 = 12.13%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | North America Copper Mines | North America Copper Mines segment profit margin ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
Segment Profit Margin: South America Operations
Freeport-McMoRan Inc.; South America Operations; segment profit margin calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income (loss) | 1,471) | 1,234) | 1,228) | 2,066) | 547) |
| Revenues | 5,171) | 4,941) | 4,718) | 4,916) | 2,955) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 28.45% | 24.97% | 26.03% | 42.03% | 18.51% |
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).
1 2024 Calculation
Segment profit margin = 100 × Operating income (loss) ÷ Revenues
= 100 × 1,471 ÷ 5,171 = 28.45%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | South America Operations | South America Operations segment profit margin ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level. |
Segment Profit Margin: Indonesia Operations
Freeport-McMoRan Inc.; Indonesia Operations; segment profit margin calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income (loss) | 5,622) | 4,728) | 4,600) | 3,938) | 1,320) |
| Revenues | 10,318) | 8,437) | 8,426) | 7,523) | 3,614) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 54.49% | 56.04% | 54.59% | 52.35% | 36.52% |
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).
1 2024 Calculation
Segment profit margin = 100 × Operating income (loss) ÷ Revenues
= 100 × 5,622 ÷ 10,318 = 54.49%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Indonesia Operations | Indonesia Operations segment profit margin ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
Segment Profit Margin: Molybdenum Mines
Freeport-McMoRan Inc.; Molybdenum Mines; segment profit margin calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income (loss) | (11) | 172) | 132) | 123) | (75) |
| Revenues | 592) | 677) | 565) | 444) | 222) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | -1.86% | 25.41% | 23.36% | 27.70% | -33.78% |
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).
1 2024 Calculation
Segment profit margin = 100 × Operating income (loss) ÷ Revenues
= 100 × -11 ÷ 592 = -1.86%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Molybdenum Mines | Molybdenum Mines segment profit margin ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
Segment Profit Margin: Rod & Refining
Freeport-McMoRan Inc.; Rod & Refining; segment profit margin calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income (loss) | 29) | 20) | (23) | (1) | (25) |
| Revenues | 6,239) | 5,926) | 6,312) | 6,385) | 4,814) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 0.46% | 0.34% | -0.36% | -0.02% | -0.52% |
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).
1 2024 Calculation
Segment profit margin = 100 × Operating income (loss) ÷ Revenues
= 100 × 29 ÷ 6,239 = 0.46%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Rod & Refining | Rod & Refining segment profit margin ratio improved from 2022 to 2023 and from 2023 to 2024. |
Segment Profit Margin: Atlantic Copper Smelting & Refining
Freeport-McMoRan Inc.; Atlantic Copper Smelting & Refining; segment profit margin calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income (loss) | 49) | 36) | (61) | 21) | 25) |
| Revenues | 3,017) | 2,810) | 2,443) | 2,961) | 2,037) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 1.62% | 1.28% | -2.50% | 0.71% | 1.23% |
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).
1 2024 Calculation
Segment profit margin = 100 × Operating income (loss) ÷ Revenues
= 100 × 49 ÷ 3,017 = 1.62%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Atlantic Copper Smelting & Refining | Atlantic Copper Smelting & Refining segment profit margin ratio improved from 2022 to 2023 and from 2023 to 2024. |
Segment Return on Assets (Segment ROA)
Freeport-McMoRan Inc., ROA by reportable segment
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| North America Copper Mines | 7.57% | 11.82% | 22.33% | 37.62% | 11.01% |
| South America Operations | 14.48% | 12.28% | 11.96% | 19.46% | 5.39% |
| Indonesia Operations | 20.59% | 21.83% | 22.29% | 20.76% | 7.69% |
| Molybdenum Mines | -0.55% | 9.65% | 7.78% | 7.18% | -4.26% |
| Rod & Refining | 14.36% | 11.63% | -12.57% | -0.44% | -11.85% |
| Atlantic Copper Smelting & Refining | 2.87% | 2.71% | -4.83% | 1.59% | 2.85% |
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).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | North America Copper Mines | North America Copper Mines segment ROA deteriorated from 2022 to 2023 and from 2023 to 2024. |
| South America Operations | South America Operations segment ROA improved from 2022 to 2023 and from 2023 to 2024. | |
| Indonesia Operations | Indonesia Operations segment ROA deteriorated from 2022 to 2023 and from 2023 to 2024. | |
| Molybdenum Mines | Molybdenum Mines segment ROA improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. | |
| Rod & Refining | Rod & Refining segment ROA improved from 2022 to 2023 and from 2023 to 2024. | |
| Atlantic Copper Smelting & Refining | Atlantic Copper Smelting & Refining segment ROA improved from 2022 to 2023 and from 2023 to 2024. |
Segment ROA: North America Copper Mines
Freeport-McMoRan Inc.; North America Copper Mines; segment ROA calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income (loss) | 757) | 1,086) | 1,921) | 2,978) | 852) |
| Total assets | 9,994) | 9,191) | 8,604) | 7,916) | 7,737) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 7.57% | 11.82% | 22.33% | 37.62% | 11.01% |
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).
1 2024 Calculation
Segment ROA = 100 × Operating income (loss) ÷ Total assets
= 100 × 757 ÷ 9,994 = 7.57%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | North America Copper Mines | North America Copper Mines segment ROA deteriorated from 2022 to 2023 and from 2023 to 2024. |
Segment ROA: South America Operations
Freeport-McMoRan Inc.; South America Operations; segment ROA calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income (loss) | 1,471) | 1,234) | 1,228) | 2,066) | 547) |
| Total assets | 10,156) | 10,050) | 10,271) | 10,615) | 10,152) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 14.48% | 12.28% | 11.96% | 19.46% | 5.39% |
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).
1 2024 Calculation
Segment ROA = 100 × Operating income (loss) ÷ Total assets
= 100 × 1,471 ÷ 10,156 = 14.48%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | South America Operations | South America Operations segment ROA improved from 2022 to 2023 and from 2023 to 2024. |
Segment ROA: Indonesia Operations
Freeport-McMoRan Inc.; Indonesia Operations; segment ROA calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income (loss) | 5,622) | 4,728) | 4,600) | 3,938) | 1,320) |
| Total assets | 27,309) | 21,655) | 20,639) | 18,971) | 17,169) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 20.59% | 21.83% | 22.29% | 20.76% | 7.69% |
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).
1 2024 Calculation
Segment ROA = 100 × Operating income (loss) ÷ Total assets
= 100 × 5,622 ÷ 27,309 = 20.59%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Indonesia Operations | Indonesia Operations segment ROA deteriorated from 2022 to 2023 and from 2023 to 2024. |
Segment ROA: Molybdenum Mines
Freeport-McMoRan Inc.; Molybdenum Mines; segment ROA calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income (loss) | (11) | 172) | 132) | 123) | (75) |
| Total assets | 2,018) | 1,782) | 1,697) | 1,713) | 1,760) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | -0.55% | 9.65% | 7.78% | 7.18% | -4.26% |
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).
1 2024 Calculation
Segment ROA = 100 × Operating income (loss) ÷ Total assets
= 100 × -11 ÷ 2,018 = -0.55%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Molybdenum Mines | Molybdenum Mines segment ROA improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
Segment ROA: Rod & Refining
Freeport-McMoRan Inc.; Rod & Refining; segment ROA calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income (loss) | 29) | 20) | (23) | (1) | (25) |
| Total assets | 202) | 172) | 183) | 228) | 211) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 14.36% | 11.63% | -12.57% | -0.44% | -11.85% |
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).
1 2024 Calculation
Segment ROA = 100 × Operating income (loss) ÷ Total assets
= 100 × 29 ÷ 202 = 14.36%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Rod & Refining | Rod & Refining segment ROA improved from 2022 to 2023 and from 2023 to 2024. |
Segment ROA: Atlantic Copper Smelting & Refining
Freeport-McMoRan Inc.; Atlantic Copper Smelting & Refining; segment ROA calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income (loss) | 49) | 36) | (61) | 21) | 25) |
| Total assets | 1,705) | 1,326) | 1,262) | 1,318) | 877) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 2.87% | 2.71% | -4.83% | 1.59% | 2.85% |
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).
1 2024 Calculation
Segment ROA = 100 × Operating income (loss) ÷ Total assets
= 100 × 49 ÷ 1,705 = 2.87%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Atlantic Copper Smelting & Refining | Atlantic Copper Smelting & Refining segment ROA improved from 2022 to 2023 and from 2023 to 2024. |
Segment Asset Turnover
Freeport-McMoRan Inc., asset turnover by reportable segment
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| North America Copper Mines | 0.62 | 0.69 | 0.78 | 0.86 | 0.56 |
| South America Operations | 0.51 | 0.49 | 0.46 | 0.46 | 0.29 |
| Indonesia Operations | 0.38 | 0.39 | 0.41 | 0.40 | 0.21 |
| Molybdenum Mines | 0.29 | 0.38 | 0.33 | 0.26 | 0.13 |
| Rod & Refining | 30.89 | 34.45 | 34.49 | 28.00 | 22.82 |
| Atlantic Copper Smelting & Refining | 1.77 | 2.12 | 1.94 | 2.25 | 2.32 |
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).
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | North America Copper Mines | North America Copper Mines segment asset turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
| South America Operations | South America Operations segment asset turnover ratio improved from 2022 to 2023 and from 2023 to 2024. | |
| Indonesia Operations | Indonesia Operations segment asset turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024. | |
| Molybdenum Mines | Molybdenum Mines segment asset turnover ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. | |
| Rod & Refining | Rod & Refining segment asset turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024. | |
| Atlantic Copper Smelting & Refining | Atlantic Copper Smelting & Refining segment asset turnover ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
Segment Asset Turnover: North America Copper Mines
Freeport-McMoRan Inc.; North America Copper Mines; segment asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenues | 6,240) | 6,316) | 6,710) | 6,825) | 4,364) |
| Total assets | 9,994) | 9,191) | 8,604) | 7,916) | 7,737) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.62 | 0.69 | 0.78 | 0.86 | 0.56 |
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).
1 2024 Calculation
Segment asset turnover = Revenues ÷ Total assets
= 6,240 ÷ 9,994 = 0.62
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | North America Copper Mines | North America Copper Mines segment asset turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
Segment Asset Turnover: South America Operations
Freeport-McMoRan Inc.; South America Operations; segment asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenues | 5,171) | 4,941) | 4,718) | 4,916) | 2,955) |
| Total assets | 10,156) | 10,050) | 10,271) | 10,615) | 10,152) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.51 | 0.49 | 0.46 | 0.46 | 0.29 |
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).
1 2024 Calculation
Segment asset turnover = Revenues ÷ Total assets
= 5,171 ÷ 10,156 = 0.51
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | South America Operations | South America Operations segment asset turnover ratio improved from 2022 to 2023 and from 2023 to 2024. |
Segment Asset Turnover: Indonesia Operations
Freeport-McMoRan Inc.; Indonesia Operations; segment asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenues | 10,318) | 8,437) | 8,426) | 7,523) | 3,614) |
| Total assets | 27,309) | 21,655) | 20,639) | 18,971) | 17,169) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.38 | 0.39 | 0.41 | 0.40 | 0.21 |
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).
1 2024 Calculation
Segment asset turnover = Revenues ÷ Total assets
= 10,318 ÷ 27,309 = 0.38
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Indonesia Operations | Indonesia Operations segment asset turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
Segment Asset Turnover: Molybdenum Mines
Freeport-McMoRan Inc.; Molybdenum Mines; segment asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenues | 592) | 677) | 565) | 444) | 222) |
| Total assets | 2,018) | 1,782) | 1,697) | 1,713) | 1,760) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.29 | 0.38 | 0.33 | 0.26 | 0.13 |
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).
1 2024 Calculation
Segment asset turnover = Revenues ÷ Total assets
= 592 ÷ 2,018 = 0.29
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Molybdenum Mines | Molybdenum Mines segment asset turnover ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
Segment Asset Turnover: Rod & Refining
Freeport-McMoRan Inc.; Rod & Refining; segment asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenues | 6,239) | 5,926) | 6,312) | 6,385) | 4,814) |
| Total assets | 202) | 172) | 183) | 228) | 211) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 30.89 | 34.45 | 34.49 | 28.00 | 22.82 |
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).
1 2024 Calculation
Segment asset turnover = Revenues ÷ Total assets
= 6,239 ÷ 202 = 30.89
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Rod & Refining | Rod & Refining segment asset turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
Segment Asset Turnover: Atlantic Copper Smelting & Refining
Freeport-McMoRan Inc.; Atlantic Copper Smelting & Refining; segment asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenues | 3,017) | 2,810) | 2,443) | 2,961) | 2,037) |
| Total assets | 1,705) | 1,326) | 1,262) | 1,318) | 877) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 1.77 | 2.12 | 1.94 | 2.25 | 2.32 |
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).
1 2024 Calculation
Segment asset turnover = Revenues ÷ Total assets
= 3,017 ÷ 1,705 = 1.77
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Atlantic Copper Smelting & Refining | Atlantic Copper Smelting & Refining segment asset turnover ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
Segment Capital Expenditures to Depreciation
Freeport-McMoRan Inc., capital expenditures to depreciation by reportable segment
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| North America Copper Mines | 2.35 | 1.82 | 1.46 | 0.93 | 1.21 |
| South America Operations | 0.84 | 0.80 | 0.75 | 0.39 | 0.43 |
| Indonesia Operations | 2.44 | 1.65 | 1.54 | 1.24 | 2.18 |
| Molybdenum Mines | 1.60 | 1.27 | 0.45 | 0.09 | 0.33 |
| Rod & Refining | 8.75 | 2.60 | 1.80 | 0.40 | 0.38 |
| Atlantic Copper Smelting & Refining | 5.07 | 2.29 | 2.81 | 1.21 | 1.00 |
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).
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | North America Copper Mines | North America Copper Mines segment capital expenditures to depreciation ratio improved from 2022 to 2023 and from 2023 to 2024. |
| South America Operations | South America Operations segment capital expenditures to depreciation ratio improved from 2022 to 2023 and from 2023 to 2024. | |
| Indonesia Operations | Indonesia Operations segment capital expenditures to depreciation ratio improved from 2022 to 2023 and from 2023 to 2024. | |
| Molybdenum Mines | Molybdenum Mines segment capital expenditures to depreciation ratio improved from 2022 to 2023 and from 2023 to 2024. | |
| Rod & Refining | Rod & Refining segment capital expenditures to depreciation ratio improved from 2022 to 2023 and from 2023 to 2024. | |
| Atlantic Copper Smelting & Refining | Atlantic Copper Smelting & Refining segment capital expenditures to depreciation ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level. |
Segment Capital Expenditures to Depreciation: North America Copper Mines
Freeport-McMoRan Inc.; North America Copper Mines; segment capital expenditures to depreciation calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 1,033) | 761) | 597) | 342) | 428) |
| Depreciation, depletion and amortization | 439) | 418) | 410) | 369) | 355) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 2.35 | 1.82 | 1.46 | 0.93 | 1.21 |
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).
1 2024 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation, depletion and amortization
= 1,033 ÷ 439 = 2.35
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | North America Copper Mines | North America Copper Mines segment capital expenditures to depreciation ratio improved from 2022 to 2023 and from 2023 to 2024. |
Segment Capital Expenditures to Depreciation: South America Operations
Freeport-McMoRan Inc.; South America Operations; segment capital expenditures to depreciation calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 375) | 368) | 304) | 162) | 183) |
| Depreciation, depletion and amortization | 446) | 459) | 408) | 413) | 421) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 0.84 | 0.80 | 0.75 | 0.39 | 0.43 |
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).
1 2024 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation, depletion and amortization
= 375 ÷ 446 = 0.84
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | South America Operations | South America Operations segment capital expenditures to depreciation ratio improved from 2022 to 2023 and from 2023 to 2024. |
Segment Capital Expenditures to Depreciation: Indonesia Operations
Freeport-McMoRan Inc.; Indonesia Operations; segment capital expenditures to depreciation calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 2,908) | 1,696) | 1,575) | 1,296) | 1,266) |
| Depreciation, depletion and amortization | 1,193) | 1,028) | 1,025) | 1,049) | 580) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 2.44 | 1.65 | 1.54 | 1.24 | 2.18 |
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).
1 2024 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation, depletion and amortization
= 2,908 ÷ 1,193 = 2.44
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Indonesia Operations | Indonesia Operations segment capital expenditures to depreciation ratio improved from 2022 to 2023 and from 2023 to 2024. |
Segment Capital Expenditures to Depreciation: Molybdenum Mines
Freeport-McMoRan Inc.; Molybdenum Mines; segment capital expenditures to depreciation calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 117) | 84) | 33) | 6) | 19) |
| Depreciation, depletion and amortization | 73) | 66) | 74) | 67) | 57) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.60 | 1.27 | 0.45 | 0.09 | 0.33 |
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).
1 2024 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation, depletion and amortization
= 117 ÷ 73 = 1.60
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Molybdenum Mines | Molybdenum Mines segment capital expenditures to depreciation ratio improved from 2022 to 2023 and from 2023 to 2024. |
Segment Capital Expenditures to Depreciation: Rod & Refining
Freeport-McMoRan Inc.; Rod & Refining; segment capital expenditures to depreciation calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 35) | 13) | 9) | 2) | 6) |
| Depreciation, depletion and amortization | 4) | 5) | 5) | 5) | 16) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 8.75 | 2.60 | 1.80 | 0.40 | 0.38 |
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).
1 2024 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation, depletion and amortization
= 35 ÷ 4 = 8.75
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Rod & Refining | Rod & Refining segment capital expenditures to depreciation ratio improved from 2022 to 2023 and from 2023 to 2024. |
Segment Capital Expenditures to Depreciation: Atlantic Copper Smelting & Refining
Freeport-McMoRan Inc.; Atlantic Copper Smelting & Refining; segment capital expenditures to depreciation calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 142) | 64) | 76) | 34) | 29) |
| Depreciation, depletion and amortization | 28) | 28) | 27) | 28) | 29) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 5.07 | 2.29 | 2.81 | 1.21 | 1.00 |
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).
1 2024 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation, depletion and amortization
= 142 ÷ 28 = 5.07
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Atlantic Copper Smelting & Refining | Atlantic Copper Smelting & Refining segment capital expenditures to depreciation ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level. |
Revenues
Freeport-McMoRan Inc., revenues by reportable segment
US$ in millions
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| North America Copper Mines | 6,240) | 6,316) | 6,710) | 6,825) | 4,364) |
| South America Operations | 5,171) | 4,941) | 4,718) | 4,916) | 2,955) |
| Indonesia Operations | 10,318) | 8,437) | 8,426) | 7,523) | 3,614) |
| Molybdenum Mines | 592) | 677) | 565) | 444) | 222) |
| Rod & Refining | 6,239) | 5,926) | 6,312) | 6,385) | 4,814) |
| Atlantic Copper Smelting & Refining | 3,017) | 2,810) | 2,443) | 2,961) | 2,037) |
| Corporate, Other & Eliminations | (6,122) | (6,252) | (6,394) | (6,209) | (3,808) |
| FCX Total | 25,455) | 22,855) | 22,780) | 22,845) | 14,198) |
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).
Depreciation, depletion and amortization
Freeport-McMoRan Inc., depreciation, depletion and amortization by reportable segment
US$ in millions
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| North America Copper Mines | 439) | 418) | 410) | 369) | 355) |
| South America Operations | 446) | 459) | 408) | 413) | 421) |
| Indonesia Operations | 1,193) | 1,028) | 1,025) | 1,049) | 580) |
| Molybdenum Mines | 73) | 66) | 74) | 67) | 57) |
| Rod & Refining | 4) | 5) | 5) | 5) | 16) |
| Atlantic Copper Smelting & Refining | 28) | 28) | 27) | 28) | 29) |
| Corporate, Other & Eliminations | 58) | 64) | 70) | 67) | 70) |
| FCX Total | 2,241) | 2,068) | 2,019) | 1,998) | 1,528) |
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).
Operating income (loss)
Freeport-McMoRan Inc., operating income (loss) by reportable segment
US$ in millions
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| North America Copper Mines | 757) | 1,086) | 1,921) | 2,978) | 852) |
| South America Operations | 1,471) | 1,234) | 1,228) | 2,066) | 547) |
| Indonesia Operations | 5,622) | 4,728) | 4,600) | 3,938) | 1,320) |
| Molybdenum Mines | (11) | 172) | 132) | 123) | (75) |
| Rod & Refining | 29) | 20) | (23) | (1) | (25) |
| Atlantic Copper Smelting & Refining | 49) | 36) | (61) | 21) | 25) |
| Corporate, Other & Eliminations | (1,053) | (1,051) | (760) | (759) | (207) |
| FCX Total | 6,864) | 6,225) | 7,037) | 8,366) | 2,437) |
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).
Total assets
Freeport-McMoRan Inc., total assets by reportable segment
US$ in millions
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| North America Copper Mines | 9,994) | 9,191) | 8,604) | 7,916) | 7,737) |
| South America Operations | 10,156) | 10,050) | 10,271) | 10,615) | 10,152) |
| Indonesia Operations | 27,309) | 21,655) | 20,639) | 18,971) | 17,169) |
| Molybdenum Mines | 2,018) | 1,782) | 1,697) | 1,713) | 1,760) |
| Rod & Refining | 202) | 172) | 183) | 228) | 211) |
| Atlantic Copper Smelting & Refining | 1,705) | 1,326) | 1,262) | 1,318) | 877) |
| Corporate, Other & Eliminations | 3,464) | 8,330) | 8,437) | 7,261) | 4,238) |
| FCX Total | 54,848) | 52,506) | 51,093) | 48,022) | 42,144) |
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).
Capital expenditures
Freeport-McMoRan Inc., capital expenditures by reportable segment
US$ in millions
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| North America Copper Mines | 1,033) | 761) | 597) | 342) | 428) |
| South America Operations | 375) | 368) | 304) | 162) | 183) |
| Indonesia Operations | 2,908) | 1,696) | 1,575) | 1,296) | 1,266) |
| Molybdenum Mines | 117) | 84) | 33) | 6) | 19) |
| Rod & Refining | 35) | 13) | 9) | 2) | 6) |
| Atlantic Copper Smelting & Refining | 142) | 64) | 76) | 34) | 29) |
| Corporate, Other & Eliminations | 198) | 1,838) | 875) | 273) | 30) |
| FCX Total | 4,808) | 4,824) | 3,469) | 2,115) | 1,961) |
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).