Property, Plant and Equipment Disclosure
Asset Age Ratios (Summary)
Average Age

Freeport-McMoRan Inc., balance sheet: property, plant and equipment

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Proven and probable mineral reserves	7,160)	7,159)	7,142)	7,142)	7,087)
VBPP	359)	360)	376)	376)	465)
Mine development and other	12,325)	12,314)	11,309)	10,686)	8,180)
Buildings and infrastructure	10,165)	9,746)	9,412)	9,214)	8,435)
Machinery and equipment	15,246)	14,790)	14,399)	14,235)	13,312)
Mobile equipment	4,986)	4,756)	4,605)	4,495)	4,320)
Construction in progress	6,885)	4,419)	2,477)	1,454)	4,265)
Oil and gas properties	27,441)	27,356)	27,298)	27,281)	27,293)
Property, plant, equipment and mine development costs, gross	84,567)	80,900)	77,018)	74,883)	73,357)
Accumulated depreciation, depletion and amortization	(49,272)	(48,273)	(46,673)	(45,065)	(43,773)
Property, plant, equipment and mine development costs, net	35,295)	32,627)	30,345)	29,818)	29,584)

Based on: 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), 10-K (reporting date: 2019-12-31).

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Item	Description	The company
Property, plant, equipment and mine development costs, gross	Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Freeport-McMoRan Inc. property, plant, equipment and mine development costs, gross increased from 2021 to 2022 and from 2022 to 2023.
Property, plant, equipment and mine development costs, net	Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Freeport-McMoRan Inc. property, plant, equipment and mine development costs, net increased from 2021 to 2022 and from 2022 to 2023.

Freeport-McMoRan Inc., asset age ratios

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
	Average age ratio	58.26%	59.67%	60.60%	60.18%	59.67%

Based on: 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), 10-K (reporting date: 2019-12-31).

Asset age ratio	Description	The company
Average age ratio	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	Freeport-McMoRan Inc. average age ratio of depreciable property, plant and equipment improved from 2021 to 2022 and from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in millions)
Accumulated depreciation, depletion and amortization	49,272)	48,273)	46,673)	45,065)	43,773)
Property, plant, equipment and mine development costs, gross	84,567)	80,900)	77,018)	74,883)	73,357)
Asset Age Ratio
Average age¹	58.26%	59.67%	60.60%	60.18%	59.67%

Based on: 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), 10-K (reporting date: 2019-12-31).

2023 Calculations

¹ Average age = 100 × Accumulated depreciation, depletion and amortization ÷ Property, plant, equipment and mine development costs, gross
= 100 × 49,272 ÷ 84,567 = 58.26%

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Asset age ratio	Description	The company
Average age	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	Freeport-McMoRan Inc. average age ratio of depreciable property, plant and equipment improved from 2021 to 2022 and from 2022 to 2023.

Freeport-McMoRan Inc. (NYSE:FCX)

Analysis of Property, Plant and Equipment

Property, Plant and Equipment Disclosure

Asset Age Ratios (Summary)

Average Age