FREEPORT-MCMORAN INC
For the period ended Mar 31, 2024. Filed May 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 8, 2024
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Consolidated Statements of Income (Unaudited)
| Three Months Ended | ||
|---|---|---|
| March 31, | ||
| 2024 | 2023 | |
| (In Millions, Except Per Share Amounts) | ||
| Revenues | $6,321 | $5,389 |
| Cost of sales: | ||
| Production and delivery | 3,844 | 3,165 |
| Depreciation, depletion and amortization | 595 | 399 |
| Total cost of sales | 4,439 | 3,564 |
| Selling, general and administrative expenses | 144 | 126 |
| Exploration and research expenses | 37 | 31 |
| Environmental obligations and shutdown costs | 67 | 67 |
| Total costs and expenses | 4,687 | 3,788 |
| Operating income | 1,634 | 1,601 |
| Interest expense, net | (89) | (151) |
| Other income, net | 129 | 88 |
| Income before income taxes and equity in affiliated companies’ net earnings | 1,674 | 1,538 |
| Provision for income taxes | (512) | (499) |
| Equity in affiliated companies’ net earnings | — | 10 |
| Net income | 1,162 | 1,049 |
| Net income attributable to noncontrolling interests | (689) | (386) |
| Net income attributable to common stockholders | $473 | $663 |
| Net income per share attributable to common stockholders: | ||
| Basic | $0.33 | $0.46 |
| Diluted | $0.32 | $0.46 |
| Weighted-average shares of common stock outstanding: | ||
| Basic | 1,436 | 1,433 |
| Diluted | 1,444 | 1,443 |
| Dividends declared per share of common stock | $0.15 | $0.15 |
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