Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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Freeport-McMoRan Inc. pages available for free this week:
- Balance Sheet: Assets
- Common-Size Income Statement
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Price to FCFE (P/FCFE)
- Return on Equity (ROE) since 2005
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
- Price to Book Value (P/BV) since 2005
- Aggregate Accruals
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Freeport-McMoRan Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Accounts payable and accrued liabilities
- The proportion of accounts payable and accrued liabilities relative to total liabilities and equity generally increased from 6.13% in March 2020 to a peak of 7.91% in September 2022. Subsequently, there was a mild decrease and fluctuation around 7% to 7.5% through June 2025, indicating a relatively stable but slightly elevated proportion over the period.
- Accrued income taxes
- Accrued income taxes showed an increasing trend from 0.32% in March 2020 to a high of 3.21% at December 2021, followed by a decline and fluctuations between 0.69% and 2.44% up to June 2024. By June 2025, it settled lower near 0.69%, suggesting variability and a peak in late 2021 with a subsequent decrease.
- Current portion of debt
- A marked increase was observed from 0.61% in March 2020 to 2.8% in March 2022, followed by a sharp drop to near 0.07% in late 2022 and early 2023. After this, the figure increased moderately again to around 0.88% in June 2025. This indicates significant short-term debt repayments or restructuring within the timeframe.
- Current portion of environmental and asset retirement obligations
- This liability remained relatively stable throughout the period, fluctuating slightly around 0.5% to 0.8%, ending close to 0.53% in June 2025, indicating consistent levels of current environmental obligations.
- Dividends payable
- Introduced only from March 2021, dividends payable as a percentage of total liabilities and equity started at approximately 0.25%, fluctuated mildly in a narrow range near 0.4%, and remained steady around this level through June 2025.
- Current liabilities
- Current liabilities increased noticeably from 7.81% in March 2020 to a peak near 13.22% in March 2022, then declined and fluctuated around 9.8% to 11.6% in subsequent periods, indicating periods of increased short-term obligations followed by stabilization at a lower level.
- Long-term debt, less current portion
- Long-term debt showed a declining trend from 24.44% in March 2020 to approximately 15.78% by June 2025, with some oscillations. The most substantial decrease happened from 2020 through early 2022, followed by relative stability with minor variations, reflecting effective reduction of long-term liabilities.
- Environmental and asset retirement obligations, less current portion
- This component remained broadly stable, oscillating around 8.5% to 9.8% over the entire period, ending near 9.67% in June 2025. No significant upward or downward trends were observable.
- Deferred income taxes
- Deferred income taxes steadily decreased as a percentage of total liabilities and equity from over 10% in early 2020 to under 8% by June 2025, indicating a gradual reduction in deferred tax liabilities.
- Other liabilities
- Other liabilities showed a declining trend from approximately 6% in early 2020 down to about 3.0% in late 2021, then experienced a slight increasing trend to around 3.86% by June 2025, reflecting a reduction followed by modest growth in miscellaneous liabilities.
- Noncurrent liabilities
- Noncurrent liabilities decreased consistently from 50% in early 2020 to about 37% by mid-2023, with minor fluctuations around that level through June 2025, indicating a notable reduction in noncurrent obligations relative to total liabilities and equity.
- Total liabilities
- Total liabilities as a percentage of total liabilities and equity declined from about 58% in early 2020 to below 47% by mid-2025, reflecting a gradual deleveraging trend over the five-year span.
- Common stock
- The relative proportion of common stock declined slightly from 0.39% in March 2020 to 0.29% by June 2025, showing a minor decrease in this account's share of total liabilities and equity.
- Capital in excess of par value
- This component experienced a steady decrease from 64.34% in March 2020 to 41.85% in June 2025, indicating a significant reduction in capital paid above the par value of common stock over the timeframe.
- Retained earnings (accumulated deficit)
- This metric showed a strong upward trend from a negative 31.75% in March 2020 toward positive territory, crossing zero around March 2025 and reaching 1.31% by June 2025. This shift from accumulated deficit to positive retained earnings suggests improving profitability or accumulation of earnings over time.
- Accumulated other comprehensive loss
- This loss remained relatively stable with minor fluctuations, moving slightly from -1.66% in early 2020 to around -0.55% by mid-2025, indicating a small but persistent negative impact on equity from comprehensive income items.
- Common stock held in treasury
- The percentage of common stock held in treasury increased in absolute terms from -9.3% in early 2020 to about -11.42% in late 2022, then slightly decreased, stabilizing around -10.66% by June 2025, suggesting increased buybacks or treasury stock holdings during the early part of the period followed by some reductions.
- Stockholders’ equity
- Stockholders’ equity as a percentage of total liabilities and equity rose significantly from 22% in early 2020 to over 32% by mid-2025, reflecting an overall strengthening of equity financing and improved financial position.
- Noncontrolling interests
- Noncontrolling interests generally declined from 20.16% in March 2020 to 18.23% in late 2022, then trended upward reaching 20.87% by June 2025, showing some variation but generally stable around 20%.
- Total equity
- Total equity increased from approximately 42% in early 2020 to over 53% by mid-2025. This improving equity ratio complements the deleveraging pattern observed in total liabilities.
- Overall trends
- The data indicates a clear deleveraging trend with total liabilities declining relative to total liabilities and equity, accompanied by a strengthening equity position. A key highlight is the movement from a significant accumulated deficit toward positive retained earnings, signaling improving profitability. Capital in excess of par value and long-term debt have decreased notably, while current liabilities have fluctuated, peaking in early 2022 before stabilizing. Treasury stock holdings increased initially before leveling off. Environmental liabilities remain steady, showing consistent obligations in that area. The company has maintained a relatively stable proportion of noncontrolling interests and other minor liabilities. These trends collectively suggest focused efforts on reducing debt, enhancing equity, and improving the overall financial structure over the observed periods.