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:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value (EV)
- Dividend Discount Model (DDM)
- Net Profit Margin since 2005
- Operating Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Total Asset Turnover since 2005
- Price to Sales (P/S) since 2005
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Freeport-McMoRan Inc., consolidated cash flow statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-03-31), 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 financial data reveals a period of significant volatility in net income and operating cash flows, contrasted by a sustained and aggressive capital investment strategy. While net income fluctuated between a low of 560 million USD in September 2022 and a high of 1.904 billion USD in March 2022, the company maintained positive net cash provided by operating activities across all reported quarters.
- Operating Cash Flow and Net Income Trends
- Net cash provided by operating activities exhibited substantial variance, peaking at 2.395 billion USD in June 2021 before experiencing a contraction in late 2022 and again in December 2025. The relationship between net income and operating cash flow is heavily influenced by non-cash adjustments, particularly depreciation, depletion, and amortization, which remained relatively stable between 400 million USD and 668 million USD per quarter.
- Capital Expenditure and Investment Patterns
- A marked upward trend in capital expenditures is evident, transitioning from a quarterly average of approximately 500 million USD in 2021 to consistently exceeding 1 billion USD per quarter between 2023 and 2025. Indonesia operations emerged as the primary driver of these investments, with spending peaking at 944 million USD in December 2023. Investment activity remained consistently negative, reflecting a long-term commitment to infrastructure and capacity expansion.
- Financing Activities and Liquidity Management
- Financing activities are characterized by strategic debt management and steady shareholder distributions. A significant liquidity event occurred in June 2022, with proceeds from debt reaching 4.062 billion USD, largely offset by repayments of 2.559 billion USD in the same period. Cash dividends to common stock remained highly stable, averaging approximately 215 million USD per quarter. Distributions to noncontrolling interests showed higher volatility, peaking at 649 million USD in September 2025.
- Working Capital and Extraordinary Items
- Working capital changes exerted significant influence on cash positions, with frequent swings in accounts receivable and accrued income taxes. Notable non-recurring items include a substantial insurance settlement related to the PTFI mud rush incident of 699 million USD in March 2026 and intermittent impairments of oil and gas properties, including 69 million USD in March 2024 and 64 million USD in March 2026.
Overall, the company demonstrates a capacity to generate sufficient operating cash to fund an escalating capital expenditure program, though this has necessitated periodic reliance on debt markets to manage liquidity and maintain shareholder distributions.