Cash Flow Statement
Quarterly Data
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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Freeport-McMoRan Inc. pages available for free this week:
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Price to Earnings (P/E) since 2005
- Price to Operating Profit (P/OP) since 2005
- Analysis of Revenues
- Aggregate Accruals
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Freeport-McMoRan Inc., consolidated cash flow statement (quarterly data)
US$ in millions
Based on: 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).
- Net Income (Loss)
- The net income demonstrated a significant recovery following a loss in early 2020, progressing from negative to positive values and peaking in the second half of 2021 with a maximum of approximately US$1.7 billion. Subsequently, net income exhibited some volatility but generally maintained positive growth through 2024, with a drop noted in late 2024 and early 2025 periods.
- Depreciation, Depletion, and Amortization
- These expenses showed a gradual increase from early 2020 through 2023, reaching a peak near US$600 million per quarter, with some fluctuation in 2024 but generally remaining elevated compared to 2020 levels.
- Environmental and Asset Retirement Obligations
- Net charges for environmental and asset retirement obligations showed considerable fluctuations, with spikes notably at the end of 2020 and again intermittently in 2023 and 2024. Payments remained relatively stable with occasional increases, indicating ongoing commitments in these areas.
- Stock-based Compensation
- Stock-based compensation displayed variability without a clear trend, ranging between approximately US$15 million to US$54 million per quarter, with occasional spikes.
- Charges for Litigation and Other Provisions
- There were one-time charges related to talc litigation recognized principally in 2021 and 2023. Pension and postretirement plans charges were consistent but small in comparison to other items, with pension contributions fluctuating mainly below zero, indicating cash outflows.
- Cash Flow from Operating Activities
- Operating cash flow improved significantly from a negative value in Q1 2020 to robust positive values, reaching above US$2 billion in several quarters in 2021 and 2024, evidencing strengthened operating performance.
- Cash Flow from Investing Activities
- Net cash used in investing activities was predominantly negative, reflecting significant capital expenditures, which increased steadily from about US$400 million per quarter in early 2020 to more than US$1 billion in several quarters by late 2022 and 2023. Acquisitions and investments in subsidiary interests occurred sporadically but notably impacted cash flows in 2024.
- Capital Expenditures
- Capital expenditures exhibited a rising trend, roughly tripling from early 2020 levels to peak at over US$1.3 billion per quarter in late 2023, consistent with ongoing investment and expansion.
- Debt and Financing Activities
- Proceeds from debt showed marked increases, notably in 2022, reflecting active financing, while repayments also increased, suggesting balance sheet management efforts. Dividends and distributions remained relatively steady, with cash paid for dividends ranging consistently around US$200 million per quarter from mid-2020 onward. Financing cash flows fluctuated but tended to be negative or modestly positive, reflecting a complex interplay of debt issuance, repayments, and shareholder payments.
- Changes in Working Capital and Other Current Assets and Liabilities
- Working capital-related adjustments showed substantial fluctuations, with large positive and negative swings indicating variable operational cash impacts. Accounts receivable and inventories displayed significant volatility across quarters, impacting cash flow timing. Accounts payable also reflected variable changes with some large positive and negative movements especially in the 2020–2021 timeframe.
- Cash and Cash Equivalents
- Overall changes in cash and equivalents showed volatility, with considerable increases throughout 2020 and mid-2021 periods, followed by fluctuating decreases and periods of depletion, notably in late 2022, early 2023, and late 2024, reflecting cyclical cash management needs amid capital expenditure and operating cash flow changes.
- Geographic Segment Expenses
- Operating expenses across US copper mines, South America operations, Indonesia operations, and molybdenum mines demonstrated steady increases or high levels throughout the periods, particularly for Indonesia operations, which showed persistent and growing negative values, indicating rising operating costs or investments in this region. Lesser but notable expenses were recorded for molybdenum and other segments.
- Other Significant Adjustments
- There were occasional gains or losses on sales of assets with significant irregular values, especially a notable gain in late 2020, and some smaller losses or gains in other periods. Deferred taxes showed variability with occasional large negative adjustments indicating tax management or timing differences.