Stock Analysis on Net
Stock Analysis on Net

Freeport-McMoRan Inc. (NYSE:FCX)

$24.99

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.

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

US$ in millions

Microsoft Excel
Dec 31, 2025 Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Accounts payable
Salaries, wages and other compensation
Litigation accruals
Pension, postretirement, postemployment and other employee benefits
Accrued interest
Deferred revenue
Short-term operating lease liabilities
Accrued taxes, other than income taxes
Community development programs
PTFI contingencies
MIND ID indemnification
PTFI administrative fine
Other
Accounts payable and accrued liabilities
Current portion of debt
Accrued income taxes
Current portion of environmental and asset retirement obligations
Dividends payable
Current liabilities
Long-term debt, less current portion
Environmental and asset retirement obligations, less current portion
Deferred income taxes
Long-term operating lease liabilities
Pension, postretirement, postemployment and other employment benefits
Litigation accruals
Provision for tax positions
Social investment programs
Indemnification of MIND ID
Other
Other liabilities
Noncurrent liabilities
Total liabilities
Common stock, par value $0.10
Capital in excess of par value
Retained earnings (accumulated deficit)
Accumulated other comprehensive loss
Common stock held in treasury, at cost
Stockholders’ equity
Noncontrolling interests
Total equity
Total liabilities and equity

Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).

Overall, the company’s liabilities and stockholders’ equity demonstrate a general upward trend from 2021 through 2025. Total liabilities increased from US$25.003 billion to US$27.401 billion, while total equity grew from US$23.019 billion to US$30.766 billion, resulting in a significant increase in total liabilities and equity from US$48.022 billion to US$58.167 billion over the five-year period.

Current Liabilities
Current liabilities exhibited volatility, increasing from US$5.892 billion in 2021 to US$6.345 billion in 2022, decreasing to US$5.496 billion in 2024, and then rising to US$6.019 billion in 2025. A significant component, accrued income taxes, decreased substantially from US$1.541 billion in 2021 to US$456 million in 2025. The current portion of debt also showed considerable fluctuation, peaking at US$1.037 billion in 2022 before declining sharply to US$41 million in 2024 and then increasing again to US$466 million in 2025.
Noncurrent Liabilities
Noncurrent liabilities generally increased over the period, moving from US$19.111 billion in 2021 to US$21.382 billion in 2025. Long-term debt remained relatively stable, fluctuating between US$8.656 billion and US$9.583 billion. Environmental and asset retirement obligations also increased consistently, from US$4.116 billion in 2021 to US$5.541 billion in 2025. Long-term operating lease liabilities experienced a substantial increase, more than tripling from US$281 million in 2021 to US$1.010 billion in 2025.
Stockholders’ Equity
Stockholders’ equity demonstrated consistent growth throughout the period, rising from US$13.980 billion in 2021 to US$18.899 billion in 2025. Retained earnings transitioned from an accumulated deficit of US$7.375 billion in 2021 to a positive balance of US$1.385 billion in 2025, indicating improved profitability and earnings retention. Common stock held in treasury consistently decreased, from US$4.292 billion in 2021 to US$6.024 billion in 2025, potentially reflecting share repurchase activity. Noncontrolling interests also increased steadily, from US$9.039 billion to US$11.867 billion.
Specific Accruals and Contingencies
Litigation accruals experienced significant volatility. While relatively low in 2021 and 2023, they peaked at US$99 million in 2022 and again at US$343 million in 2025. PTFI contingencies decreased substantially from US$259 million in 2021 to US$49 million in both 2024 and 2025. New items, MIND ID indemnification and PTFI administrative fine, appeared in 2024 and 2025, respectively, adding to the liability structure.

The increases in both liabilities and equity suggest overall company growth and potentially increased financing activities. The shifts within current and noncurrent liabilities indicate changes in the company’s short-term and long-term financial obligations and risk management strategies. The positive trend in retained earnings is a favorable sign, while the increasing trend in noncontrolling interests suggests a growing proportion of ownership outside of the parent company.