Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
Freeport-McMoRan Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 10-Q (reporting date: 2025-09-30), 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
- This item exhibits a general upward trend over the periods analyzed, increasing from approximately 6.13% to fluctuating around 7.2% to 7.6% of total liabilities and equity toward the end of the timeline. The values indicate some volatility but overall an increase in its relative share.
- Accrued income taxes
- There are notable fluctuations in accrued income taxes as a percentage of total liabilities and equity, with peaks around mid-2021 and mid-2024, reaching over 3%, followed by troughs near or below 1% at various points. This suggests variability in income tax accruals possibly related to changing earnings or tax positions.
- Current portion of debt
- This category shows variability with higher values at the start of 2021 and spikes at early 2022 and early 2024, reaching up to about 2.8%. In contrast, there are periods with very low proportions, sometimes close to 0.07%, indicating fluctuating short-term debt obligations relative to the total capital structure.
- Current portion of environmental and asset retirement obligations
- This item remains relatively stable, fluctuating modestly roughly between 0.5% and 0.8%, indicating a consistently low but steady component of current liabilities linked to environmental and asset retirement obligations.
- Dividends payable
- Starting with no data for early periods, dividends payable stabilize around 0.4% to 0.46% later on, with a slight decreasing tendency, reflecting a steady yet small dividend liability relative to total liabilities and equity.
- Current liabilities
- Current liabilities experience fluctuations with a peak near 13.2% in early 2022 and troughs under 10% at various later points. After peaking in 2021 and early 2022, current liabilities tend to moderate, declining somewhat toward the later periods analyzed.
- Long-term debt, less current portion
- A downward trend can be observed from above 24% at the start of 2020 to levels near 15%-16% by 2025. This indicates a significant reduction in long-term debt relative to the company’s total capital base, suggesting improving leverage or debt management over time.
- Environmental and asset retirement obligations, less current portion
- This item remains fairly steady near 8.5% to 9.8% of total liabilities and equity with slight fluctuations, reflecting a consistent long-term environmental liability component relative to the capital structure.
- Deferred income taxes
- Deferred income taxes exhibit a gradual decline from approximately 10.4% to near 7.7%, indicating a gradual reduction in deferred tax liabilities relative to total liabilities and equity over the period reviewed.
- Other liabilities
- Other liabilities show a decreasing trend from about 6.1% to around 3.1%–3.8%, stabilizing toward the later periods, signaling a reduction in miscellaneous or less defined liabilities as a percentage of the capital base.
- Noncurrent liabilities
- The proportion of noncurrent liabilities declines from about 50% in early 2020 to around 36.5%–37.5% by the end of the timeline, consistent with the noted decrease in long-term debt and other long-term obligations.
- Total liabilities
- Total liabilities steadily decrease as a proportion of total liabilities and equity, going from nearly 58% to approximately 46.5%–47.9%. This reflects a gradual deleveraging or an increase in equity financing relative to liabilities.
- Common stock
- The relative share of common stock remains very stable but declines slightly from about 0.39% to 0.29%, indicating minimal change in this component of equity capital.
- Capital in excess of par value
- Capital in excess of par value steadily decreases from around 64% to approximately 41.6%. This gradual decline suggests ongoing equity restructuring or repurchases that reduce this account’s relative size within total capital.
- Retained earnings (accumulated deficit)
- A marked improvement trends through the timeline, shifting from a large negative position (-31.75%) toward positive territory (2.1%) near the end of the period. This indicates recovery from accumulated deficits to growing retained earnings, reflecting improving profitability and accumulation of earnings over time.
- Accumulated other comprehensive loss
- This line remains negative but shows slight improvements, reducing from approximately -1.66% to around -0.55%, signaling a decrease in accumulated other comprehensive losses within equity.
- Common stock held in treasury
- This component maintains a relatively stable negative contribution, fluctuating near -10% to -11%, indicating a consistent proportion of treasury stock held over time.
- Stockholders’ equity
- Stockholders' equity as a percentage of total liabilities and equity increases from approximately 22% to near 33%, reflecting stronger equity positions correlating with the improvement in retained earnings and reduction in liabilities.
- Noncontrolling interests
- Noncontrolling interests fluctuate slightly but remain near 18%-21%, indicating steady minority shareholder participation in total equity.
- Total equity
- Total equity steadily grows from about 42% to over 53%, reflecting an overall strengthening of the equity base compared to liabilities, consistent with trends in retained earnings and reductions in debt levels.
- Summary of Capital Structure Trends
- The data indicates a progressive deleveraging trend with a notable reduction in long-term debt and noncurrent liabilities, coupled with steady or increasing equity contributions including reduced accumulated deficits and enhanced retained earnings. The company appears to be transitioning toward a stronger equity position, with liabilities decreasing from nearly 58% to about 46% of total capital, and total equity increasing correspondingly. Short-term liabilities fluctuate but do not exhibit a clear long-term trend. The stability in environmental obligations and other liabilities suggests consistent management of these specific components.