Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Freeport-McMoRan Inc., consolidated income statement (quarterly data)

US$ in millions

3 months ended:	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Revenues	5,905)	5,824)	5,737)	5,389)	5,758)	5,003)	5,416)	6,603)	6,164)	6,083)	5,748)	4,850)	4,495)	3,851)	3,054)	2,798)	3,911)	3,153)	3,546)	3,792)
Production and delivery	(3,360)	(3,553)	(3,549)	(3,165)	(3,508)	(3,391)	(3,021)	(3,150)	(3,155)	(3,023)	(3,067)	(2,787)	(2,631)	(2,474)	(2,255)	(2,767)	(3,009)	(2,706)	(3,002)	(2,976)
Depreciation, depletion and amortization (DD&A)	(589)	(533)	(547)	(399)	(515)	(508)	(507)	(489)	(568)	(528)	(483)	(419)	(435)	(394)	(358)	(341)	(391)	(322)	(352)	(347)
Cost of sales	(3,949)	(4,086)	(4,096)	(3,564)	(4,023)	(3,899)	(3,528)	(3,639)	(3,723)	(3,551)	(3,550)	(3,206)	(3,066)	(2,868)	(2,613)	(3,108)	(3,400)	(3,028)	(3,354)	(3,323)
Gross profit (loss)	1,956)	1,738)	1,641)	1,825)	1,735)	1,104)	1,888)	2,964)	2,441)	2,532)	2,198)	1,644)	1,429)	983)	441)	(310)	511)	125)	192)	469)
Selling, general and administrative expenses	(120)	(118)	(115)	(126)	(107)	(98)	(100)	(115)	(94)	(102)	(87)	(100)	(97)	(72)	(91)	(110)	(99)	(106)	(97)	(112)
Mining exploration and research expenses	(34)	(30)	(42)	(31)	(28)	(38)	(25)	(24)	(19)	(15)	(14)	(7)	(8)	(8)	(18)	(16)	(21)	(25)	(31)	(27)
Environmental obligations and shutdown costs	(80)	(98)	(74)	(67)	(70)	(6)	(29)	(16)	(40)	(13)	(33)	(5)	(101)	(21)	(11)	(26)	(20)	(20)	(23)	(42)
Net gain (loss) on sales of assets	—)	—)	—)	—)	—)	—)	2)	—)	17)	60)	3)	—)	486)	(2)	—)	(11)	404)	(12)	(8)	33)
Operating income (loss)	1,722)	1,492)	1,410)	1,601)	1,530)	962)	1,736)	2,809)	2,305)	2,462)	2,067)	1,532)	1,709)	880)	321)	(473)	775)	(38)	33)	321)
Interest expense, net	(97)	(96)	(171)	(151)	(137)	(140)	(156)	(127)	(171)	(138)	(148)	(145)	(236)	(120)	(115)	(127)	(219)	(123)	(132)	(146)
Net gain (loss) on early extinguishment of debt	—)	5)	5)	—)	3)	20)	8)	—)	—)	—)	—)	—)	(1)	(59)	(9)	(32)	—)	(21)	—)	(6)
Other income (expense), net	103)	71)	24)	88)	140)	25)	11)	31)	(161)	36)	9)	11)	(3)	22)	20)	20)	(190)	33)	5)	14)
Income (loss) from continuing operations before income taxes and equity in affiliated companies’ net earnings (losses)	1,728)	1,472)	1,268)	1,538)	1,536)	867)	1,599)	2,713)	1,973)	2,360)	1,928)	1,398)	1,469)	723)	217)	(612)	366)	(149)	(94)	183)
(Provision for) benefit from income taxes	(724)	(508)	(539)	(499)	(557)	(315)	(571)	(824)	(625)	(628)	(603)	(443)	(611)	(297)	(96)	60)	(329)	(91)	15)	(105)
Equity in affiliated companies’ net earnings (losses)	3)	—)	2)	10)	(2)	8)	10)	15)	10)	(9)	6)	(2)	—)	6)	3)	3)	5)	5)	5)	(3)
Net income (loss) from continuing operations	1,007)	964)	731)	1,049)	977)	560)	1,038)	1,904)	1,358)	1,723)	1,331)	953)	858)	432)	124)	(549)	42)	(235)	(74)	75)
Net gain from discontinued operations	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	1)	1)	—)	1)
Net income (loss)	1,007)	964)	731)	1,049)	977)	560)	1,038)	1,904)	1,358)	1,723)	1,331)	953)	858)	432)	124)	(549)	43)	(234)	(74)	76)
Net (income) loss attributable to noncontrolling interests	(619)	(510)	(388)	(386)	(280)	(156)	(198)	(377)	(252)	(324)	(248)	(235)	(150)	(103)	(71)	58)	(34)	27)	2)	(45)
Net income (loss) attributable to common stockholders	388)	454)	343)	663)	697)	404)	840)	1,527)	1,106)	1,399)	1,083)	718)	708)	329)	53)	(491)	9)	(207)	(72)	31)

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Income statement item	Description	The company
Revenues	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Freeport-McMoRan Inc. revenues increased from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
Operating income (loss)	The net result for the period of deducting operating expenses from operating revenues.	Freeport-McMoRan Inc. operating income (loss) increased from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
Income (loss) from continuing operations before income taxes and equity in affiliated companies’ net earnings (losses)	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Freeport-McMoRan Inc. income (loss) from continuing operations before income taxes and equity in affiliated companies’ net earnings (losses) increased from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
Net income (loss) attributable to common stockholders	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Freeport-McMoRan Inc. net income (loss) attributable to common stockholders increased from Q2 2023 to Q3 2023 but then slightly decreased from Q3 2023 to Q4 2023 not reaching Q2 2023 level.

Freeport-McMoRan Inc. (NYSE:FCX)

Income StatementQuarterly Data

Income Statement
Quarterly Data