Balance Sheet: Liabilities and Stockholders’ Equity

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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

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

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Accounts payable	2,466)	2,701)	2,035)	1,473)	1,654)
Salaries, wages and other compensation	343)	329)	334)	312)	249)
Deferred revenue	161)	76)	191)	65)	12)
Accrued interest	146)	218)	203)	243)	178)
Pension, postretirement, postemployment and other employee benefits	129)	143)	190)	91)	69)
PT-FI contingencies	122)	179)	259)	196)	115)
Accrued taxes, other than income taxes	88)	75)	64)	76)	79)
Short-term operating lease liabilities	84)	38)	38)	38)	44)
Community development programs	58)	60)	—)	—)	—)
Litigation accruals	51)	99)	28)	86)	88)
Accrued mining royalties	13)	41)	33)	—)	—)
Other	68)	68)	120)	128)	88)
Accounts payable and accrued liabilities	3,729)	4,027)	3,495)	2,708)	2,576)
Accrued income taxes	786)	744)	1,541)	324)	119)
Current portion of debt	766)	1,037)	372)	34)	5)
Current portion of environmental and asset retirement obligations	316)	320)	264)	351)	436)
Dividends payable	218)	217)	220)	—)	73)
Current liabilities	5,815)	6,345)	5,892)	3,417)	3,209)
Long-term debt, less current portion	8,656)	9,583)	9,078)	9,677)	9,821)
Environmental and asset retirement obligations, less current portion	4,624)	4,463)	4,116)	3,705)	3,630)
Deferred income taxes	4,453)	4,269)	4,234)	4,408)	4,210)
Pension, postretirement, postemployment and other employment benefits	704)	775)	845)	1,213)	1,318)
Long-term operating lease liabilities	347)	294)	281)	190)	204)
Provision for tax positions	174)	161)	232)	261)	255)
Litigation accruals	163)	109)	131)	110)	—)
Social investment programs	79)	36)	—)	—)	—)
Indemnification of MIND ID	75)	74)	78)	42)	—)
Cerro Verde royalty dispute	—)	—)	—)	376)	502)
Other	106)	113)	116)	77)	212)
Other liabilities	1,648)	1,562)	1,683)	2,269)	2,491)
Noncurrent liabilities	19,381)	19,877)	19,111)	20,059)	20,152)
Total liabilities	25,196)	26,222)	25,003)	23,476)	23,361)
Common stock, par value $0.10	162)	161)	160)	159)	158)
Capital in excess of par value	24,637)	25,322)	25,875)	26,037)	25,830)
Accumulated deficit	(2,059)	(3,907)	(7,375)	(11,681)	(12,280)
Accumulated other comprehensive loss	(274)	(320)	(388)	(583)	(676)
Common stock held in treasury, at cost	(5,773)	(5,701)	(4,292)	(3,758)	(3,734)
Stockholders’ equity	16,693)	15,555)	13,980)	10,174)	9,298)
Noncontrolling interests	10,617)	9,316)	9,039)	8,494)	8,150)
Total equity	27,310)	24,871)	23,019)	18,668)	17,448)
Total liabilities and equity	52,506)	51,093)	48,022)	42,144)	40,809)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Balance sheet item	Description	The company
Current liabilities	Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.	Freeport-McMoRan Inc. current liabilities increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Noncurrent liabilities	Amount of obligation due after one year or beyond the normal operating cycle, if longer.	Freeport-McMoRan Inc. noncurrent liabilities increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.
Total liabilities	Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.	Freeport-McMoRan Inc. total liabilities increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.
Stockholders’ equity	Total of all stockholders’ equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity stockholders’ equity attributable to the parent excludes the amount of stockholders’ equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.	Freeport-McMoRan Inc. stockholders’ equity increased from 2021 to 2022 and from 2022 to 2023.

Freeport-McMoRan Inc. (NYSE:FCX)

Balance Sheet: Liabilities and Stockholders’ Equity