Balance Sheet: Assets
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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Freeport-McMoRan Inc. pages available for free this week:
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Geographic Areas
- Common Stock Valuation Ratios
- Net Profit Margin since 2005
- Price to Earnings (P/E) since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Book Value (P/BV) since 2005
- Price to Sales (P/S) since 2005
- Analysis of Revenues
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Freeport-McMoRan Inc., consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 10-K (reporting date: 2025-12-31), 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).
The asset composition of the company exhibits several notable trends over the observed period from March 2021 to December 2025. Current assets initially increased significantly before stabilizing and then declining, while non-current assets generally trended upward throughout the period. A closer examination of individual asset components reveals more nuanced patterns.
- Cash and Cash Equivalents
- Cash and cash equivalents demonstrated a substantial increase from March 2021 to December 2021, peaking at US$8.146 billion. Subsequently, a consistent decline was observed, reaching US$3.824 billion by December 2025. This suggests a strategic deployment of cash reserves over time, potentially for investments or debt reduction.
- Current Assets – Composition
- Within current assets, inventories consistently represent a significant portion, increasing from US$4.145 billion in March 2021 to US$7.493 billion in December 2025. Product inventories showed a similar upward trend, growing from US$1.542 billion to US$3.332 billion over the same period. Trade accounts receivable fluctuated, peaking in December 2022 at US$1.336 billion, but generally decreased towards the end of the period. Restricted cash and cash equivalents began to be reported in September 2022, increasing to US$230 million by December 2025.
- Non-Current Assets
- Non-current assets, primarily consisting of property, plant, equipment, and mine development costs, exhibited a steady upward trajectory, increasing from US$29.775 billion in March 2021 to US$40.736 billion in December 2025. This indicates ongoing investment in long-term operational capacity. Long-term mill and leach stockpiles also increased, though at a slower rate, from US$1.475 billion to US$1.173 billion. Long-term tax receivables were first reported in December 2025 at US$810 million.
- Total Assets
- Total assets increased from US$43.643 billion in March 2021 to US$58.167 billion in December 2025. The rate of increase slowed in the later years of the period, suggesting a potential stabilization of asset growth. The peak in total assets occurred in December 2024 at US$54.848 billion.
Overall, the company’s asset base expanded considerably over the analyzed timeframe. The increase in non-current assets suggests a commitment to long-term growth and operational development, while the fluctuations in current assets reflect dynamic working capital management. The decline in cash and cash equivalents towards the end of the period warrants further investigation to understand the underlying capital allocation strategies.