FREEPORT-MCMORAN INCFCX

FREEPORT-MCMORAN INC New Standards Disclosure

10-KFiled Feb 13, 20261 min read
New Accounting Standards. FCX did not adopt any new accounting standards in 2025 that had a material impact on its consolidated financial statements.

Income Taxes. In December 2023, the Financial Accounting Standards Board (FASB) issued an Accounting Standard Update (ASU) requiring enhancements to disclosures related to income taxes, including the rate reconciliation and information on income taxes paid. FCX adopted this standard retrospectively in the consolidated financial statements for the year ended December 31, 2025. Refer to Note 9 for the revised disclosures.

Disaggregation of Expenses. In November 2024, the FASB issued an ASU requiring entities to provide disaggregated disclosures of specified categories of expenses that are included in relevant line items on the face of the income statement, including: purchases of inventory, employee compensation, depreciation, intangible asset amortization and depletion. This ASU is effective for FCX’s consolidated financial statements for the year ended December 31, 2027, and subsequent interim consolidated financial statements.

Historical Timeline

Fiscal YearFiled
2025Feb 13, 2026Showing above
2024Feb 14, 2025
2023Feb 16, 2024
2022Feb 15, 2023
2021Feb 15, 2022
2020Feb 16, 2021
2019Feb 14, 2020
2018Feb 15, 2019
2017Feb 20, 2018
2016Feb 24, 2017
2015Feb 26, 2016

About New Standards Disclosures

New accounting standards disclosures describe recently adopted pronouncements and those not yet effective, along with management's assessment of their expected impact. This section provides an early warning system for upcoming changes to how a company reports its financial results, often years before the new rules take effect.

Key signals: when management describes a not-yet-adopted standard's impact as "material" or "still being evaluated," it signals potential significant changes to reported metrics upon adoption. Watch for standards that affect a company's core operations — for example, revenue recognition changes for software companies or lease accounting changes for retailers with large store footprints. The transition method chosen (full retrospective versus modified retrospective) affects comparability with prior periods. Companies that delay adoption to the latest permitted date may be struggling with implementation complexity. Compare the disclosed impact assessments against peers in the same industry to gauge whether management's expectations are reasonable.

Other Available Disclosures

Income TaxesRevenueFair ValuePP&ESegmentsDebtCommitments