Common-Size Balance Sheet: Assets
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- Analysis of Solvency Ratios
- Analysis of Reportable Segments
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Selected Financial Data since 2005
- Operating Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Total Asset Turnover since 2005
- Price to Book Value (P/BV) since 2005
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Freeport-McMoRan Inc., common-size consolidated balance sheet: assets
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).
- Cash and cash equivalents
- The proportion of cash and cash equivalents relative to total assets increased significantly from 8.68% in 2020 to a peak of 16.8% in 2021. This was followed by a gradual decline over the next years, reaching 7.15% by the end of 2024, indicating a shift from liquidity to potentially other asset classes.
- Restricted cash and cash equivalents
- This category appeared starting in 2022, initially at a marginal 0.22%, then increased to 2.3% in 2023 before slightly decreasing to 1.62% in 2024, suggesting a growing but fluctuating allocation of funds restricted for specific purposes.
- Trade accounts receivable
- This asset decreased from 2.43% in 2021 to 1.05% in 2024, signaling a reduction in outstanding receivables over time, which may imply improved collection efficiency or changing sales terms.
- Value added and other tax receivables
- Relatively stable with a minor decline from 1.23% in 2020 to 0.9% in 2022, then a slight increase back to just above 1% in 2024, showing consistency in tax-related receivables.
- Inventories
- Consistent upward trend from 9.24% in 2020 to 12.41% in 2024, indicating growing investment in inventory, possibly reflecting higher production or stockpiling strategies.
- Other current assets
- This fluctuated in a narrow range around 0.7% to 1.1%, ending at 0.98% in 2024, which suggests relative stability in smaller current asset components.
- Current assets
- Peaked at 30.88% in 2021 and maintained a similar level in 2022 (30.56%), before declining steadily to 24.24% by 2024, highlighting a shift away from current assets in the total asset composition.
- Property, plant, equipment and mine development costs (net)
- This major asset component decreased from 70.26% in 2020 to 62.61% in 2021, then recovered and rose again to 68.66% in 2024, suggesting investment cycles with temporary reductions and subsequent renewals or expansions.
- Operating lease right-of-use assets
- Gradual increase from 0.49% in 2020 to 1.56% in 2024 indicates a growing emphasis on leased assets in operations.
- Long-term mill and leach stockpiles
- Declined moderately from 3.47% in 2020 to 2.23% in 2024, possibly reflecting consumption or depletion of stockpiled materials.
- Intangible assets
- Showed a slight but steady decrease from 0.95% to 0.78%, indicating minor reductions in intangible asset proportions over the period.
- Legally restricted trust assets
- Relatively stable around 0.4% throughout the period, demonstrating consistent allocation towards these assets.
- Disputed tax assessments
- Decreased slightly from 0.79% in 2020 to 0.52% in 2024, reflecting possible resolution or reassessment of disputed tax positions.
- Investments
- Declined between 2020 and 2021 but progressively increased from 0.48% in 2021 to 1.01% in 2024, indicating renewed or increased investment activity.
- Cloud computing arrangements
- Emerging as a recorded item from 2023 onward, increasing from 0.14% to 0.28%, evidencing the adoption of technology assets.
- Long-term receivable for taxes
- Decreases steadily from 0.25% in 2020 to 0.08% in 2024, suggesting reductions in tax-related long-term receivables.
- Long-term employee receivables
- Remained quite stable around 0.04% to 0.05%, representing a small and consistent portion of assets.
- Prepaid rent and deposits
- Insignificant values with some fluctuation, peaking slightly at 0.07% in 2023 before falling back to 0.02% in 2024.
- Loans to PT Smelting for expansion
- Appeared starting in 2021 at 0.07%, growing to 0.44% by 2023 but then absent in 2024's data, suggesting temporary lending activity.
- Contingent consideration associated with sales of assets
- Declined progressively from 0.23% in 2020 to 0.07% in 2023, disappearing thereafter, indicating settlement or elimination of contingencies.
- Other assets
- Relatively stable small category around 0.2%, showing no significant changes.
- Other assets (noncurrent)
- Fluctuated modestly between 3.7% in 2020 and 3.31% in 2024, indicating steady proportions of miscellaneous long-term assets.
- Noncurrent assets
- Declined from 77.93% in 2020 to 69.12% in 2021, then rose steadily to 75.76% in 2024. This pattern reflects an initial shift towards current assets in 2021 followed by a return towards heavier concentration in noncurrent assets such as property and equipment.
- Total assets
- Remained constant at 100% throughout, serving as the baseline for all proportional measures.