2020 Q4 Form 10-Q Financial Statement

#000083125920000040 Filed on November 06, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q3
Revenue $4.495B $3.851B $3.153B
YoY Change 14.93% 22.14% -35.76%
Cost Of Revenue $3.066B $2.868B $3.033B
YoY Change -9.77% -5.44% -14.01%
Gross Profit $1.429B $983.0M $120.0M
YoY Change 178.56% 719.17% -91.31%
Gross Profit Margin 31.79% 25.53% 3.81%
Selling, General & Admin $96.00M $72.00M $101.0M
YoY Change -3.03% -28.71% 0.0%
% of Gross Profit 6.72% 7.32% 84.17%
Research & Development $8.000M $7.000M $25.00M
YoY Change -61.9% -72.0% -7.41%
% of Gross Profit 0.56% 0.71% 20.83%
Depreciation & Amortization $435.0M $394.0M $322.0M
YoY Change 11.25% 22.36% -29.69%
% of Gross Profit 30.44% 40.08% 268.33%
Operating Expenses $205.0M $72.00M $101.0M
YoY Change 46.43% -28.71% 0.0%
Operating Profit $1.224B $880.0M -$38.00M
YoY Change 57.94% -2415.79% -102.89%
Interest Expense -$236.0M -$120.0M -$115.0M
YoY Change 6.79% 4.35% -24.34%
% of Operating Profit -19.28% -13.64%
Other Income/Expense, Net -$3.000M $22.00M $33.00M
YoY Change -98.42% -33.33% 135.71%
Pretax Income $1.469B $723.0M -$149.0M
YoY Change 301.37% -585.23% -112.56%
Income Tax $611.0M $297.0M $91.00M
% Of Pretax Income 41.59% 41.08%
Net Earnings $708.0M $432.0M -$234.0M
YoY Change 1546.51% -284.62% -135.24%
Net Earnings / Revenue 15.75% 11.22% -7.42%
Basic Earnings Per Share $0.22 -$0.15
Diluted Earnings Per Share $476.8K $0.22 -$0.15
COMMON SHARES
Basic Shares Outstanding 1.453B shares 1.453B shares 1.452B shares
Diluted Shares Outstanding 1.461B shares 1.452B shares

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.657B $2.403B $2.247B
YoY Change 81.04% 6.94% -50.68%
Cash & Equivalents $3.657B $2.403B $2.247B
Short-Term Investments $0.00 $0.00
Other Short-Term Assets $341.0M $419.0M $672.0M
YoY Change -47.94% -37.65% 67.16%
Inventory $3.893B $3.892B $4.434B
Prepaid Expenses
Receivables $892.0M $893.0M $731.0M
Other Receivables $520.0M $464.0M $263.0M
Total Short-Term Assets $9.303B $8.071B $8.347B
YoY Change 17.54% -3.31% -23.57%
LONG-TERM ASSETS
Property, Plant & Equipment $29.82B $29.91B $29.33B
YoY Change 0.79% 1.98% 27.45%
Goodwill
YoY Change
Intangibles $401.0M
YoY Change -0.25%
Long-Term Investments
YoY Change
Other Assets $1.560B $1.654B $1.966B
YoY Change -17.24% -15.87% -20.08%
Total Long-Term Assets $32.84B $33.03B $32.60B
YoY Change -0.16% 1.33% 21.5%
TOTAL ASSETS
Total Short-Term Assets $9.303B $8.071B $8.347B
Total Long-Term Assets $32.84B $33.03B $32.60B
Total Assets $42.14B $41.10B $40.94B
YoY Change 3.27% 0.38% 8.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.473B $2.533B $2.686B
YoY Change -10.94% -5.7% 12.72%
Accrued Expenses $38.00M $45.00M
YoY Change -13.64%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $34.00M $47.00M $4.000M
YoY Change 580.0% 1075.0% 0.0%
Total Short-Term Liabilities $3.417B $3.096B $3.381B
YoY Change 6.48% -8.43% -12.2%
LONG-TERM LIABILITIES
Long-Term Debt $9.677B $9.983B $9.915B
YoY Change -1.47% 0.69% -10.86%
Other Long-Term Liabilities $2.269B $2.440B $2.302B
YoY Change -8.91% 5.99% 20.02%
Total Long-Term Liabilities $11.95B $12.42B $12.22B
YoY Change -2.97% 1.69% -6.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.417B $3.096B $3.381B
Total Long-Term Liabilities $11.95B $12.42B $12.22B
Total Liabilities $23.48B $23.54B $23.40B
YoY Change 0.49% 0.58% -3.68%
SHAREHOLDERS EQUITY
Retained Earnings -$11.68B -$12.39B -$12.29B
YoY Change -4.88% 0.81% -1.89%
Common Stock $159.0M $158.0M $158.0M
YoY Change 0.63% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.758B $3.739B $3.735B
YoY Change 0.64% 0.11% 0.24%
Treasury Stock Shares 132.0M shares
Shareholders Equity $10.17B $9.236B $9.444B
YoY Change
Total Liabilities & Shareholders Equity $42.14B $41.10B $40.94B
YoY Change 3.27% 0.38% 8.46%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income $708.0M $432.0M -$234.0M
YoY Change 1546.51% -284.62% -135.24%
Depreciation, Depletion And Amortization $435.0M $394.0M $322.0M
YoY Change 11.25% 22.36% -29.69%
Cash From Operating Activities $1.327B $1.237B $224.0M
YoY Change 680.59% 452.23% -82.04%
INVESTING ACTIVITIES
Capital Expenditures -$388.0M -$436.0M -$666.0M
YoY Change -47.21% -34.53% 31.36%
Acquisitions
YoY Change
Other Investing Activities $557.0M $29.00M $8.000M
YoY Change 21.88% 262.5% 60.0%
Cash From Investing Activities $169.0M -$407.0M -$658.0M
YoY Change -160.79% -38.15% 31.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -248.0M 96.00M -60.00M
YoY Change 96.83% -260.0% -4.76%
NET CHANGE
Cash From Operating Activities 1.327B 1.237B 224.0M
Cash From Investing Activities 169.0M -407.0M -658.0M
Cash From Financing Activities -248.0M 96.00M -60.00M
Net Change In Cash 1.248B 926.0M -494.0M
YoY Change -633.33% -287.45% -172.43%
FREE CASH FLOW
Cash From Operating Activities $1.327B $1.237B $224.0M
Capital Expenditures -$388.0M -$436.0M -$666.0M
Free Cash Flow $1.715B $1.673B $890.0M
YoY Change 89.5% 87.98% -49.26%

Facts In Submission

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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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1453000000 shares
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1451000000 shares
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11000000 shares
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CY2020Q3 fcx Dilutive Securities Excludedfrom Computationof Eps Amount
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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CY2020Q3 us-gaap Earnings Per Share Basic
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EarningsPerShareBasic
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CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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2000000 shares
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10000000 shares
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AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
13000000 shares
CY2019Q3 fcx Dilutive Securities Excludedfrom Computationof Eps Amount
DilutiveSecuritiesExcludedfromComputationofEPSAmount
43000000 shares
fcx Dilutive Securities Excludedfrom Computationof Eps Amount
DilutiveSecuritiesExcludedfromComputationofEPSAmount
35000000 shares
fcx Dilutive Securities Excludedfrom Computationof Eps Amount
DilutiveSecuritiesExcludedfromComputationofEPSAmount
42000000 shares
CY2020Q3 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
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1244000000 USD
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220000000 USD
CY2020Q3 us-gaap Inventory Ore Stockpiles On Leach Pads
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819000000 USD
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InventoryOreStockpilesOnLeachPads
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1004000000 USD
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1143000000 USD
CY2020Q3 us-gaap Inventory Raw Materials
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360000000 USD
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1281000000 USD
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211000000 USD
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InventoryMillStockpilesNoncurrent
181000000 USD
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1252000000 USD
CY2020Q3 us-gaap Inventory Noncurrent
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1463000000 USD
CY2019Q4 us-gaap Inventory Noncurrent
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1425000000 USD
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us-gaap Federal Income Tax Expense Benefit Continuing Operations
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us-gaap Foreign Income Tax Expense Benefit Continuing Operations
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us-gaap Foreign Income Tax Expense Benefit Continuing Operations
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17000000 USD
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49000000 USD
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EffectiveIncomeTaxRateContinuingOperations
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3.02
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CY2020Q3 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
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47000000 USD
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LongTermDebtAndCapitalLeaseObligations
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160000000 USD
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163000000 USD
us-gaap Interest Costs Incurred
InterestCostsIncurred
490000000 USD
fcx Covid Response Dividend Suspended Price Per Share
COVIDResponseDividendSuspendedPricePerShare
0.05
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DerivativeFairValueOfDerivativeAsset
65000000 USD
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20000000 USD
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65000000 USD
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CY2019Q4 us-gaap Derivative Asset Fair Value Gross Liability
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CY2019Q4 us-gaap Derivative Liability Fair Value Gross Asset
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52000000 USD
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CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2020000000 USD
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103000000 USD
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100000000 USD
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149000000 USD
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158000000 USD
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2278000000 USD
CY2020Q3 us-gaap Marketable Securities
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4 segment
fcx Deferred Intercompany Profit Percentage
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0.25
CY2020Q3 fcx Treatment And Refining Charges Included In Copper Concentrates Revenues
TreatmentAndRefiningChargesIncludedInCopperConcentratesRevenues
95000000 USD
CY2019Q3 fcx Treatment And Refining Charges Included In Copper Concentrates Revenues
TreatmentAndRefiningChargesIncludedInCopperConcentratesRevenues
87000000 USD
fcx Treatment And Refining Charges Included In Copper Concentrates Revenues
TreatmentAndRefiningChargesIncludedInCopperConcentratesRevenues
250000000 USD
fcx Treatment And Refining Charges Included In Copper Concentrates Revenues
TreatmentAndRefiningChargesIncludedInCopperConcentratesRevenues
292000000 USD
CY2020Q3 us-gaap Royalty Expense
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56000000 USD
CY2019Q3 us-gaap Royalty Expense
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24000000 USD
us-gaap Royalty Expense
RoyaltyExpense
102000000 USD
us-gaap Royalty Expense
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73000000 USD
CY2020Q3 fcx Export Duties Expense
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23000000 USD
CY2019Q3 fcx Export Duties Expense
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174000000 USD
fcx Export Duties Expense
ExportDutiesExpense
43000000 USD
fcx Export Duties Expense
ExportDutiesExpense
201000000 USD
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3742000000 USD
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3204000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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9646000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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10531000000 USD
CY2020Q3 us-gaap Revenues
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3851000000 USD
CY2019Q3 us-gaap Revenues
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3153000000 USD
us-gaap Revenues
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9703000000 USD
us-gaap Revenues
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10491000000 USD
CY2020Q3 us-gaap Revenues
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3851000000 USD
CY2020Q3 us-gaap Cost Of Goods And Service Excluding Depreciation Depletion And Amortization
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2465000000 USD
CY2020Q3 us-gaap Cost Depreciation Amortization And Depletion
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394000000 USD
CY2020Q3 fcx Inventory Adjustment
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9000000 USD
CY2020Q3 us-gaap Selling General And Administrative Expense
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72000000 USD
CY2020Q3 us-gaap Exploration Expense
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8000000 USD
CY2020Q3 us-gaap Environmental Remediation Expense
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21000000 USD
CY2020Q3 us-gaap Gain Loss On Disposition Of Assets1
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CY2020Q3 us-gaap Operating Income Loss
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880000000 USD
CY2020Q3 us-gaap Interest Income Expense Net
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CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
297000000 USD
CY2020Q3 us-gaap Assets
Assets
41099000000 USD
CY2020Q3 us-gaap Payments To Acquire Productive Assets
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436000000 USD
CY2019Q3 us-gaap Revenues
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3153000000 USD
CY2019Q3 us-gaap Cost Of Goods And Service Excluding Depreciation Depletion And Amortization
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2670000000 USD
CY2019Q3 us-gaap Cost Depreciation Amortization And Depletion
CostDepreciationAmortizationAndDepletion
322000000 USD
CY2019Q3 fcx Inventory Adjustment
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41000000 USD
CY2019Q3 us-gaap Selling General And Administrative Expense
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101000000 USD
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25000000 USD
CY2019Q3 us-gaap Environmental Remediation Expense
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20000000 USD
CY2019Q3 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
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CY2019Q3 us-gaap Operating Income Loss
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CY2019Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
91000000 USD
CY2019Q3 us-gaap Assets
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40943000000 USD
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666000000 USD
us-gaap Revenues
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9703000000 USD
us-gaap Cost Of Goods And Service Excluding Depreciation Depletion And Amortization
CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization
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us-gaap Cost Depreciation Amortization And Depletion
CostDepreciationAmortizationAndDepletion
1093000000 USD
fcx Inventory Adjustment
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92000000 USD
us-gaap Selling General And Administrative Expense
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42000000 USD
us-gaap Environmental Remediation Expense
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58000000 USD
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
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us-gaap Operating Income Loss
OperatingIncomeLoss
728000000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
333000000 USD
us-gaap Payments To Acquire Productive Assets
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us-gaap Revenues
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10491000000 USD
us-gaap Cost Of Goods And Service Excluding Depreciation Depletion And Amortization
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us-gaap Cost Depreciation Amortization And Depletion
CostDepreciationAmortizationAndDepletion
1021000000 USD
fcx Inventory Adjustment
InventoryAdjustment
100000000 USD
us-gaap Selling General And Administrative Expense
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us-gaap Exploration Expense
ExplorationExpense
83000000 USD
us-gaap Environmental Remediation Expense
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us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
13000000 USD
us-gaap Operating Income Loss
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IncomeTaxExpenseBenefit
181000000 USD
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PaymentsToAcquireProductiveAssets
1917000000 USD

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