Stock Analysis on Net
Stock Analysis on Net

Freeport-McMoRan Inc. (NYSE:FCX)

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity 

Freeport-McMoRan Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity

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Dec 31, 2025 Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Accounts payable 5.07 5.08 4.70 5.29 4.24
Salaries, wages and other compensation 0.66 0.66 0.65 0.64 0.70
Litigation accruals 0.59 0.06 0.10 0.19 0.06
Pension, postretirement, postemployment and other employee benefits 0.25 0.23 0.25 0.28 0.40
Accrued interest 0.25 0.25 0.28 0.43 0.42
Deferred revenue 0.18 0.17 0.31 0.15 0.40
Short-term operating lease liabilities 0.18 0.18 0.16 0.07 0.08
Accrued taxes, other than income taxes 0.14 0.15 0.17 0.15 0.13
Community development programs 0.11 0.14 0.11 0.12 0.00
PTFI contingencies 0.08 0.09 0.13 0.35 0.54
MIND ID indemnification 0.08 0.09 0.00 0.00 0.00
PTFI administrative fine 0.00 0.11 0.10 0.00 0.00
Other 0.26 0.20 0.15 0.21 0.32
Accounts payable and accrued liabilities 7.85% 7.40% 7.10% 7.88% 7.28%
Current portion of debt 0.80 0.07 1.46 2.03 0.77
Accrued income taxes 0.78 1.57 1.50 1.46 3.21
Current portion of environmental and asset retirement obligations 0.54 0.58 0.60 0.63 0.55
Dividends payable 0.38 0.40 0.42 0.42 0.46
Current liabilities 10.35% 10.02% 11.07% 12.42% 12.27%
Long-term debt, less current portion 15.32 16.24 16.49 18.76 18.90
Environmental and asset retirement obligations, less current portion 9.53 9.85 8.81 8.74 8.57
Deferred income taxes 7.95 7.98 8.48 8.36 8.82
Long-term operating lease liabilities 1.74 1.26 0.66 0.58 0.59
Pension, postretirement, postemployment and other employment benefits 1.32 1.26 1.34 1.52 1.76
Litigation accruals 0.28 0.30 0.31 0.21 0.27
Provision for tax positions 0.23 0.25 0.33 0.32 0.48
Social investment programs 0.25 0.20 0.15 0.07 0.00
Indemnification of MIND ID 0.00 0.00 0.14 0.14 0.16
Other 0.15 0.18 0.20 0.22 0.24
Other liabilities 2.23% 2.18% 2.48% 2.48% 2.92%
Noncurrent liabilities 36.76% 37.51% 36.91% 38.90% 39.80%
Total liabilities 47.11% 47.53% 47.99% 51.32% 52.07%
Common stock, par value $0.10 0.28 0.30 0.31 0.32 0.33
Capital in excess of par value 40.71 43.39 46.92 49.56 53.88
Retained earnings (accumulated deficit) 2.38 -0.31 -3.92 -7.65 -15.36
Accumulated other comprehensive loss -0.52 -0.57 -0.52 -0.63 -0.81
Common stock held in treasury, at cost -10.36 -10.75 -10.99 -11.16 -8.94
Stockholders’ equity 32.49% 32.05% 31.79% 30.44% 29.11%
Noncontrolling interests 20.40 20.41 20.22 18.23 18.82
Total equity 52.89% 52.47% 52.01% 48.68% 47.93%
Total liabilities and equity 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2025-12-31), 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).

The composition of liabilities and stockholders’ equity exhibited several notable shifts between 2021 and 2025. Overall, total liabilities decreased as a percentage of total liabilities and equity, while total equity increased over the same period. Within liabilities, current liabilities demonstrated a decreasing trend, while noncurrent liabilities remained relatively stable.

Current Liabilities
Current liabilities, representing 12.27% of the total in 2021, decreased to 10.35% by 2025. This decline was primarily driven by reductions in accrued income taxes, which fell from 3.21% to 0.78%, and the current portion of debt, decreasing from 0.77% to 0.80%. However, short-term operating lease liabilities increased from 0.08% to 0.18% during the period.
Noncurrent Liabilities
Noncurrent liabilities remained relatively consistent, fluctuating between 36.91% and 39.80% of the total. Long-term debt, less current portion, constituted a significant portion of these liabilities, decreasing from 18.90% to 15.32%. Environmental and asset retirement obligations, less current portion, increased from 8.57% to 9.53%. Long-term operating lease liabilities showed a substantial increase, rising from 0.59% to 1.74%.
Specific Liability Accounts
PTFI contingencies experienced a significant decrease, falling from 0.54% in 2021 to 0.08% in 2025. Litigation accruals showed volatility, peaking at 0.19% in 2022 before decreasing to 0.28% in 2025. Accounts payable remained relatively stable, fluctuating between 4.24% and 5.29%. Deferred revenue decreased from 0.40% to 0.18% over the period.
Stockholders’ Equity
Stockholders’ equity increased from 29.11% in 2021 to 32.49% in 2025. This increase was largely attributable to changes within the equity components. Capital in excess of par value decreased from 53.88% to 40.71%, while retained earnings transitioned from an accumulated deficit of -15.36% to a positive balance of 2.38%. Common stock held in treasury decreased from -8.94% to -10.36%. Accumulated other comprehensive loss remained relatively stable, fluctuating between -0.63% and -0.81%.
Noncontrolling Interests
Noncontrolling interests consistently represented a substantial portion of total equity, ranging from 18.23% to 20.41% throughout the period, indicating a significant presence of ownership not directly attributable to the company’s common shareholders.

In summary, the liability structure shifted towards a greater proportion of noncurrent liabilities, while equity experienced growth driven by improved retained earnings and a decrease in treasury stock. Several specific liability accounts demonstrated notable fluctuations, reflecting changes in the company’s operational and financial commitments.

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