Freeport-McMoRan Files 2024 Annual Report
Ticker: FCX · Form: 10-K · Filed: Feb 14, 2025 · CIK: 831259
| Field | Detail |
|---|---|
| Company | Freeport-Mcmoran INC (FCX) |
| Form Type | 10-K |
| Filed Date | Feb 14, 2025 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.10, $4.15, $3.67, $4.92, $3.95 |
| Sentiment | neutral |
Sentiment: neutral
Topics: annual-report, sec-filing, mining
Related Tickers: FCX
TL;DR
FCX filed its 2024 10-K. All good.
AI Summary
Freeport-McMoRan Inc. filed its annual report for the fiscal year ended December 31, 2024. The company is incorporated in Delaware and headquartered in Phoenix, Arizona, with its common stock traded on the New York Stock Exchange under the ticker symbol FCX. This filing confirms its status as a well-known seasoned issuer and its compliance with SEC reporting requirements.
Why It Matters
This 10-K filing provides investors with a comprehensive overview of Freeport-McMoRan's financial performance, operational activities, and risk factors for the fiscal year 2024.
Risk Assessment
Risk Level: low — The filing itself is a standard annual report and does not inherently present new risks, but rather discloses existing ones.
Key Players & Entities
- Freeport-McMoRan Inc. (company) — Registrant
- December 31, 2024 (date) — Fiscal year end
- Delaware (jurisdiction) — State of incorporation
- Phoenix, Arizona (location) — Principal executive offices
- FCX (ticker) — Common Stock trading symbol
- New York Stock Exchange (exchange) — Exchange where common stock is registered
FAQ
What is the primary purpose of this Form 10-K filing for Freeport-McMoRan Inc.?
The primary purpose is to provide an annual report detailing the company's financial performance, operations, and risk factors for the fiscal year ended December 31, 2024.
Where is Freeport-McMoRan Inc. incorporated and headquartered?
Freeport-McMoRan Inc. is incorporated in Delaware and its principal executive offices are located at 333 North Central Avenue, Phoenix, Arizona.
What is the trading symbol for Freeport-McMoRan Inc.'s common stock and on which exchange is it listed?
The trading symbol is FCX, and its common stock is registered on the New York Stock Exchange.
Has Freeport-McMoRan Inc. filed all required reports for the preceding 12 months?
Yes, the filing indicates that the registrant has filed all reports required by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months.
Is Freeport-McMoRan Inc. considered a well-known seasoned issuer?
Yes, the filing indicates that Freeport-McMoRan Inc. is a well-known seasoned issuer.
Filing Stats: 4,552 words · 18 min read · ~15 pages · Grade level 13 · Accepted 2025-02-14 17:00:48
Key Financial Figures
- $0.10 — ich registered Common Stock, par value $0.10 per share FCX The New York Stock Exchan
- $4.15 — (LME) copper settlement prices averaged $4.15 per pound (ranging from a low of $3.67
- $3.67 — $4.15 per pound (ranging from a low of $3.67 per pound to a high of $4.92 per pound)
- $4.92 — m a low of $3.67 per pound to a high of $4.92 per pound) and closed at $3.95 per poun
- $3.95 — high of $4.92 per pound) and closed at $3.95 per pound on December 31, 2024. We beli
- $2.0 billion — lations. At December 31, 2024, we had $2.0 billion recorded in our consolidated balance sh
- $3.7 billion — sheet for environmental obligations and $3.7 billion recorded for asset retirement obligatio
- $0.6 billion — ons that affect our operations totaling $0.6 billion in 2024, $0.5 billion in 2023 and $0.4
- $0.5 billion — erations totaling $0.6 billion in 2024, $0.5 billion in 2023 and $0.4 billion in 2022, and w
- $0.4 billion — llion in 2024, $0.5 billion in 2023 and $0.4 billion in 2022, and we expect to incur approxi
Filing Documents
- fcx-20241231.htm (10-K) — 6394KB
- a4q2024exhibit108.htm (EX-10.8) — 187KB
- a4q2024exhibit1028.htm (EX-10.28) — 54KB
- a4q2024exhibit1031.htm (EX-10.31) — 36KB
- a4q2024exhibit191.htm (EX-19.1) — 115KB
- a4q2024exhibit211.htm (EX-21.1) — 7KB
- a4q2024exhibit231.htm (EX-23.1) — 6KB
- a4q2024ex232consentscerrov.htm (EX-23.2) — 31KB
- a4q2024ex233consentsgrasbe.htm (EX-23.3) — 19KB
- a4q2024ex234consentsmorenci.htm (EX-23.4) — 31KB
- a4q2024exhibit241.htm (EX-24.1) — 4KB
- a4q2024exhibit242.htm (EX-24.2) — 50KB
- a4q2024exhibit311.htm (EX-31.1) — 11KB
- a4q2024exhibit312.htm (EX-31.2) — 11KB
- a4q2024exhibit321.htm (EX-32.1) — 6KB
- a4q2024exhibit322.htm (EX-32.2) — 6KB
- a4q2024exhibit951.htm (EX-95.1) — 173KB
- fcx-20241231_g1.jpg (GRAPHIC) — 3KB
- fcx-20241231_g10.jpg (GRAPHIC) — 35KB
- fcx-20241231_g11.jpg (GRAPHIC) — 35KB
- fcx-20241231_g12.jpg (GRAPHIC) — 62KB
- fcx-20241231_g13.jpg (GRAPHIC) — 167KB
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- fcx-20241231_g15.jpg (GRAPHIC) — 226KB
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- fcx-20241231_g18.jpg (GRAPHIC) — 183KB
- fcx-20241231_g2.jpg (GRAPHIC) — 70KB
- fcx-20241231_g3.jpg (GRAPHIC) — 629KB
- fcx-20241231_g4.jpg (GRAPHIC) — 40KB
- fcx-20241231_g5.jpg (GRAPHIC) — 34KB
- fcx-20241231_g6.jpg (GRAPHIC) — 33KB
- fcx-20241231_g7.jpg (GRAPHIC) — 69KB
- fcx-20241231_g8.jpg (GRAPHIC) — 44KB
- fcx-20241231_g9.jpg (GRAPHIC) — 247KB
- insidertrading1stpage.jpg (GRAPHIC) — 32KB
- a2024trscerroverde-finalxp.pdf (EX-96.1) — 3335KB
- 0000831259-25-000006.txt ( ) — 41882KB
- fcx-20241231.xsd (EX-101.SCH) — 119KB
- fcx-20241231_cal.xml (EX-101.CAL) — 136KB
- fcx-20241231_def.xml (EX-101.DEF) — 887KB
- fcx-20241231_lab.xml (EX-101.LAB) — 1495KB
- fcx-20241231_pre.xml (EX-101.PRE) — 1178KB
- fcx-20241231_htm.xml (XML) — 5146KB
Risk Factors
Item 1A. Risk Factors 47
Unresolved Staff Comments
Item 1B. Unresolved Staff Comments 71
Cybersecurity
Item 1C. Cybersecurity 72
Legal Proceedings
Item 3. Legal Proceedings 73
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 76 Information About Our Executive Officers 76 Part II 78
Market for Registrant's Common Equity, Related Stockholder Matters
Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 78
Reserved
Item 6. Reserved 78 Items 7. and 7A. Management's Discussion and Analysis of Financial Condition and Results of Operations and Quantitative and Qualitative Disclosures about Market Risk 79
Financial Statements and Supplementary Data
Item 8. Financial Statements and Supplementary Data 117
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 176
Controls and Procedures
Item 9A. Controls and Procedures 176
Other Information
Item 9B. Other Information 176
Disclosure Regarding Foreign Jurisdictions that Prevent Inspections
Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 177 Part III 177
Directors, Executive Officers and Corporate Governance
Item 10. Directors, Executive Officers and Corporate Governance 177
Executive Compensation
Item 11. Executive Compensation 177
Security Ownership of Certain Beneficial Owners and Management and
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 177
Certain Relationships and Related Transactions, and Director Independence
Item 13. Certain Relationships and Related Transactions, and Director Independence 178
Principal Accounting Fees and Services
Item 14. Principal Accounting Fees and Services 178 Part IV 178
Exhibits, Financial Statement Schedules
Item 15. Exhibits, Financial Statement Schedules 178
Form 10-K Summary
Item 16. Form 10-K Summary 184 Glossary of Terms 184
Signatures
Signatures S-1 i Table of Contents PART I Items 1. and 2. Business and Properties. All of our periodic reports filed with the United States (U.S.) Securities and Exchange Commission (SEC) pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended, are available, free of charge, through our website, fcx.com, including our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and any amendments to those reports. These reports and amendments are available through our website as soon as reasonably practicable after we electronically file or furnish such material to the SEC. Our website is for information only and the contents of our website or information connected thereto are not incorporated in, or otherwise to be regarded as part of, this Form 10-K. References to "we," "us" and "our" refer to Freeport-McMoRan Inc. (FCX) and its consolidated subsidiaries. References to "Notes" refer to the Notes to Consolidated Financial Statements included herein (refer to Item 8.), and references to "MD&A" refer to Management's Discussion and Analysis of Financial Condition and Results of Operations and Quantitative and Qualitative Disclosures About Market Risk included herein (refer to Items 7. and 7A.). The following discussions include forward-looking statements that are not guarantees of future performance and actual results may differ materially (refer to Item 1A. "Risk Factors" and "Cautionary Statement" in MD&A for further discussion). GENERAL We are a leading international metals company with the objective of being foremost in copper. Headquartered in Phoenix, Arizona, we operate large, long-lived, geographically diverse assets with significant proven and probable mineral reserves of copper, gold and molybdenum. We are one of the world's largest publicly traded copper producers. Our portfolio of assets includes the Grasberg minerals district in Indonesia, one of the world's largest copper and gold