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Freeport-McMoRan Inc. – ‘10-K’ for 12/31/23 – ‘EX-31.1’

On:  Thursday, 2/15/24, at 6:00pm ET   ·   As of:  2/16/24   ·   For:  12/31/23   ·   Accession #:  831259-24-11   ·   File #:  1-11307-01

Previous ‘10-K’:  ‘10-K’ on 2/15/23 for 12/31/22   ·   Latest ‘10-K’:  This Filing   ·   35 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size

 2/16/24  Freeport-McMoRan Inc.             10-K       12/31/23  134:44M

Annual Report   —   Form 10-K   —   SEA’34

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   6.52M 
 2: EX-10.7     Material Contract                                   HTML     38K 
 3: EX-21.1     Subsidiaries List                                   HTML     38K 
 4: EX-22.1     Published Report re: Matters Submitted to a Vote    HTML     36K 
                of Security Holders                                              
 5: EX-23.1     Consent of Expert or Counsel                        HTML     38K 
 6: EX-23.4     Consent of Expert or Counsel                        HTML     50K 
 7: EX-24.1     Power of Attorney                                   HTML     37K 
 8: EX-24.2     Power of Attorney                                   HTML     68K 
13: EX-95.1     Mine-Safety Disclosure                              HTML    174K 
20: EX-96.3     Mining Disclosure -- a2023trsmorenci                 PDF   6.03M 
14: EX-97       Clawback Policy re: Recovery of Erroneously         HTML     69K 
                Awarded Compensation                                             
 9: EX-31.1     Certification -- §302 - SOA'02                      HTML     41K 
10: EX-31.2     Certification -- §302 - SOA'02                      HTML     41K 
11: EX-32.1     Certification -- §906 - SOA'02                      HTML     38K 
12: EX-32.2     Certification -- §906 - SOA'02                      HTML     38K 
21: R1          Cover Page                                          HTML    102K 
22: R2          Audit Information                                   HTML     41K 
23: R3          Consolidated Statements of Operations               HTML    132K 
24: R4          Consolidated Statements of Comprehensive Income     HTML     79K 
                (Loss)                                                           
25: R5          Consolidated Statements of Cash Flows               HTML    162K 
26: R6          Consolidated Balance Sheets                         HTML    162K 
27: R7          Consolidated Balance Sheets (Parenthetical)         HTML     42K 
28: R8          Consolidated Statements of Equity                   HTML    106K 
29: R9          Summary of Significant Accounting Policies (Notes)  HTML    100K 
30: R10         Dispositions and Acquisitions Dispositions and      HTML     40K 
                Acquisitions                                                     
31: R11         Ownership in Subsidiaries and Joint Ventures        HTML     50K 
32: R12         Inventories, Including Long-Term Mill and Leach     HTML     58K 
                Stockpiles                                                       
33: R13         Property, Plant, Equipment and Mining Development   HTML     54K 
                Costs, Net                                                       
34: R14         Other Assets                                        HTML     60K 
35: R15         Accounts Payable and Accrued Liabilities            HTML     55K 
36: R16         Debt                                                HTML    134K 
37: R17         Other Liabilities, Including Employee Benefits      HTML    518K 
38: R18         Stockholders' Equity and Stock-Based Compensation   HTML    135K 
                (Notes)                                                          
39: R19         Income Taxes                                        HTML    165K 
40: R20         Contingencies                                       HTML    156K 
41: R21         Commitments and Guarantees                          HTML     82K 
42: R22         Financial Instruments (Notes)                       HTML    133K 
43: R23         Fair Value Measurement (Notes)                      HTML    207K 
44: R24         Business Segments Information                       HTML    474K 
45: R25         Supplementary Mineral Reserve Information           HTML    157K 
                (Unaudited) Supplementary Mineral Reserve                        
                Information                                                      
46: R26         Schedule Ii - Valuation and Qualifying Accounts     HTML     73K 
                Schedule Ii - Valuation and Qualifying Accounts                  
                (Notes)                                                          
47: R27         Insider Trading Arrangements                        HTML     42K 
48: R28         Summary of Significant Accounting Policies          HTML    143K 
                (Policies)                                                       
49: R29         Summary of Significant Accounting Policies          HTML     63K 
                (Tables)                                                         
50: R30         Inventories, Including Long-Term Mill and Leach     HTML     58K 
                Stockpiles (Tables)                                              
51: R31         Property, Plant, Equipment and Mining Development   HTML     52K 
                Costs, Net (Tables)                                              
52: R32         Other Assets (Tables)                               HTML     60K 
53: R33         Accounts Payable and Accrued Liabilities (Tables)   HTML     55K 
54: R34         Debt (Tables)                                       HTML    126K 
55: R35         Other Liabilities, Including Employee Benefits      HTML    273K 
                (Tables)                                                         
56: R36         Stockholders' Equity and Stock-Based Compensation   HTML    137K 
                (Tables)                                                         
57: R37         Income Taxes (Tables)                               HTML    189K 
58: R38         Contingencies (Tables)                              HTML    108K 
59: R39         COMMITMENTS AND GUARANTEES Leases (Tables)          HTML     72K 
60: R40         Financial Instruments (Tables)                      HTML    171K 
61: R41         Fair Value Measurement (Tables)                     HTML    202K 
62: R42         Business Segments Information (Tables)              HTML    224K 
63: R43         Supplementary Mineral Reserve Information           HTML    155K 
                (Unaudited) (Tables)                                             
64: R44         Summary of Significant Accounting Policies          HTML     64K 
                (Details)                                                        
65: R45         Summary of Significant Accounting Policies          HTML     79K 
                (Earnings Per Share) (Details)                                   
66: R46         Dispositions and Acquisitions (Freeport Cobalt)     HTML     70K 
                (Details)                                                        
67: R47         Dispositions and Acquisitions (PT Smelting)         HTML     45K 
                (Details)                                                        
68: R48         OWNERSHIP IN SUBSIDIARIES AND JOINT VENTURES -      HTML     75K 
                Ownership in Subsidiaries (Details)                              
69: R49         OWNERSHIP IN SUBSIDIARIES AND JOINT VENTURES -      HTML    117K 
                PT-FI Divestment (Details)                                       
70: R50         OWNERSHIP IN SUBSIDIARIES AND JOINT VENTURES -      HTML     82K 
                Joint Venture (Details)                                          
71: R51         Inventories, Including Long-Term Mill and Leach     HTML     60K 
                Stockpiles (Components of Inventories) (Details)                 
72: R52         Property, Plant, Equipment and Mining Development   HTML     81K 
                Costs, Net (Schedule of PPE) (Details)                           
73: R53         Other Assets (Details)                              HTML     93K 
74: R54         Accounts Payable and Accrued Liabilities (Details)  HTML     73K 
75: R55         DEBT - Components of Debt (Details)                 HTML    100K 
76: R56         DEBT - Revolving Credit Facility (Details)          HTML     72K 
77: R57         DEBT - Senior Notes (Details)                       HTML     92K 
78: R58         DEBT - Schedule of Senior Notes (Details)           HTML     90K 
79: R59         DEBT - PT-FI Credit Facility (Details)              HTML     66K 
80: R60         DEBT - Cerro Verde Loans (Details)                  HTML     46K 
81: R61         DEBT - Maturities (Details)                         HTML     53K 
82: R62         Other Liabilities, Including Employee Benefits      HTML     54K 
                Other Liabiliteis, Including Employee Benefit                    
                (Components of Other Liabilities) (Details)                      
83: R63         Other Liabilities, Including Employee Benefits      HTML     69K 
                (Penion Plans) (Details)                                         
84: R64         Other Liabilities, Including Employee Benefits      HTML    157K 
                (Schedule of Disclosures) (Details)                              
85: R65         Other Liabilities, Including Employee Benefits -    HTML     57K 
                Costs Not Yet Recognized (Details)                               
86: R66         Other Liabilities, Including Employee Benefits      HTML    136K 
                (Schedule of FV of Financial Assets for Pension                  
                Plans) (Details)                                                 
87: R67         Other Liabilities, Including Employee Benefits      HTML     57K 
                (Expected Benefit Payments) (Details)                            
88: R68         Other Liabilities, Including Employee Benefits      HTML     60K 
                (Postretirement and Other Benefits) (Details)                    
89: R69         Stockholders' Equity and Stock-Based Compensation   HTML     83K 
                (Details)                                                        
90: R70         Stockholders' Equity and Stock-Based Compensation   HTML     68K 
                (Accumulated Other Comprehensive Income) (Details)               
91: R71         Stockholders' Equity and Stock-Based Compensation   HTML    120K 
                Stockholders' Equity and Stock-Based Compensation                
                (Stock Option and SARs) (Details)                                
92: R72         Stockholders' Equity and Stock-Based Compensation   HTML     96K 
                Stockholders' Equity and Stock-Based Compensation                
                (Equity RSUs and PSUs) (Details)                                 
93: R73         Stockholders' Equity and Stock-Based Compensation   HTML     87K 
                Stockholders' Equity and Stock-Based Compensation                
                (Cash-settled RSUs and PSUs) (Details)                           
94: R74         Stockholders' Equity and Stock-Based Compensation   HTML     45K 
                Stockholders' Equity and Stock-Based Compensation                
                (Other info) (Details)                                           
95: R75         Income Taxes (Income before Income taxes and        HTML     45K 
                equity in affiliated companies' net earnings)                    
                (Details)                                                        
96: R76         Income Taxes (Provision for (Benefit From) Income   HTML     68K 
                Taxes) (Details)                                                 
97: R77         Income Taxes (Reconciliation of U.S. federal        HTML    102K 
                statutory rate to effective tax rate) (Details)                  
98: R78         Income Taxes (Narrative) (Details)                  HTML    143K 
99: R79         Income Taxes (Components of deferred tax assets     HTML     67K 
                and liabilities) (Details)                                       
100: R80         Income Taxes (Reserve for unrecognized tax          HTML     51K  
                benefits, interest and penalties) (Details)                      
101: R81         Contingencies (Environmental Obligations)           HTML    129K  
                (Details)                                                        
102: R82         Contingencies (Asset Retirement Obligations)        HTML     58K  
                (Details)                                                        
103: R83         Contingencies (Financial Assurances) (Details)      HTML     51K  
104: R84         Contingencies (Environmental and Reclamation        HTML     65K  
                Programs) (Details)                                              
105: R85         Contingencies (Oil and Gas Properties) (Details)    HTML     48K  
106: R86         Contingencies (Litigation) (Details)                HTML     74K  
107: R87         Contingencies (Tax and Other Matters) (Details)     HTML    112K  
108: R88         Contingencies (Tax Matters by Tax Year) (Details)   HTML     86K  
109: R89         Contingencies (Letters of Credit, Bank Guarantees   HTML     44K  
                and Surety Bonds) (Details)                                      
110: R90         Contingencies (Insurance) (Details)                 HTML     48K  
111: R91         Commitments and Guarantees (Operating Leases)       HTML     91K  
                (Details)                                                        
112: R92         Commitments and Guarantees (Contractual             HTML     59K  
                Obligations) (Details)                                           
113: R93         Commitments and Guarantees (Special Mining License  HTML     90K  
                (Iupk)) (Details)                                                
114: R94         Commitments and Guarantees (Other and Community     HTML     51K  
                Development Programs) (Details)                                  
115: R95         Financial Instruments (Unrealized gains losses)     HTML     77K  
                (Details)                                                        
116: R96         Financial Instruments (Unsettled Derivatives)       HTML     93K  
                (Details)                                                        
117: R97         Financial Instruments (Derivative) (Details)        HTML     60K  
118: R98         Fair Value Measurement (Details)                    HTML    225K  
119: R99         Fair Value Measurement Fair Value Measurement       HTML     45K  
                (Unobservable inputs) (Details)                                  
120: R100        Business Segments Information (Product Revenue)     HTML     91K  
                (Details)                                                        
121: R101        Business Segments Information (Long Lived Assets    HTML     48K  
                by Geographic Area) (Details)                                    
122: R102        Business Segments Information (Revenues by          HTML     76K  
                Geographic Area of Customer) (Details)                           
123: R103        Business Segments Information (Customers and Labor  HTML     62K  
                Matters) (Details)                                               
124: R104        Business Segments Information (Business Segments    HTML     64K  
                Narrative) (Details)                                             
125: R105        Business Segments Information (Segment Reporting)   HTML    246K  
                (Details)                                                        
126: R106        Supplementary Mineral Reserve Information           HTML     54K  
                (Unaudited) (Details)                                            
127: R107        Supplementary Mineral Reserve Information           HTML     99K  
                (Unaudited) (Recoverable Reserves) (Details)                     
128: R108        Supplementary Mineral Reserve Information           HTML    177K  
                (Unaudited) (Ore Reserves) (Details)                             
129: R109        Schedule Ii - Valuation and Qualifying Accounts     HTML     65K  
                (Details)                                                        
131: XML         IDEA XML File -- Filing Summary                      XML    249K  
134: XML         XBRL Instance -- fcx-20231231_htm                    XML   7.21M  
130: EXCEL       IDEA Workbook of Financial Report Info              XLSX    351K  
16: EX-101.CAL  XBRL Calculations -- fcx-20231231_cal                XML    311K 
17: EX-101.DEF  XBRL Definitions -- fcx-20231231_def                 XML   2.19M 
18: EX-101.LAB  XBRL Labels -- fcx-20231231_lab                      XML   4.04M 
19: EX-101.PRE  XBRL Presentations -- fcx-20231231_pre               XML   2.74M 
15: EX-101.SCH  XBRL Schema -- fcx-20231231                          XSD    377K 
132: JSON        XBRL Instance as JSON Data -- MetaLinks              966±  1.47M  
133: ZIP         XBRL Zipped Folder -- 0000831259-24-000011-xbrl      Zip   9.59M  


‘EX-31.1’   —   Certification — §302 – SOA’02


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Exhibit 31.1
Certification

I, Richard C. Adkerson, certify that:

1.I have reviewed this annual report on Form 10-K of Freeport-McMoRan Inc.;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Dated: February 15, 2024
By:
Richard C. Adkerson
Chairman of the Board and
Chief Executive Officer


Dates Referenced Herein

This ‘10-K’ Filing    Date    Other Filings
Filed as of:2/16/24None on these Dates
Filed on:2/15/24
For Period end:12/31/23
 List all Filings 


1 Subsequent Filing that References this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 5/08/24  Freeport-McMoRan Inc.             10-Q        3/31/24   56:11M


34 Previous Filings that this Filing References

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/15/23  Freeport-McMoRan Inc.             10-K       12/31/22  139:81M
10/25/22  Freeport-McMoRan Inc.             8-K:1,2,9  10/19/22   11:979K                                   Donnelley … Solutions/FA
 2/15/22  Freeport-McMoRan Inc.             10-K       12/31/21  143:54M
 2/16/21  Freeport-McMoRan Inc.             10-K       12/31/20  139:34M
 8/07/20  Freeport-McMoRan Inc.             10-Q        6/30/20   56:17M
 7/27/20  Freeport-McMoRan Inc.             8-K:1,2,8,9 7/27/20   15:688K                                   Donnelley … Solutions/FA
 6/03/20  Freeport-McMoRan Inc.             8-K:1,2,5,8 6/03/20   14:581K
 3/04/20  Freeport-McMoRan Inc.             8-K:1,2,8,9 3/04/20   14:626K                                   Donnelley … Solutions/FA
 8/15/19  Freeport-McMoRan Inc.             8-K:1,2,8,9 8/15/19   15:1.1M                                   Donnelley … Solutions/FA
 2/15/19  Freeport-McMoRan Inc.             10-K       12/31/18  159:46M
11/09/18  Freeport-McMoRan Inc.             10-Q        9/30/18   68:22M
 2/20/18  Freeport-McMoRan Inc.             10-K       12/31/17  160:43M
 2/24/17  Freeport-McMoRan Inc.             10-K       12/31/16  154:60M
 6/09/16  Freeport-McMoRan Inc.             8-K:5,9     6/08/16    4:471K
 2/26/16  Freeport-McMoRan Inc.             10-K       12/31/15  143:49M
 8/10/15  Freeport-McMoRan Inc.             8-A12B/A               2:406K                                   Donnelley … Solutions/FA
 2/27/15  Freeport-McMoRan Inc.             10-K       12/31/14  155:65M
11/14/14  Freeport-McMoRan Inc.             8-K:1,2,8,911/10/14    9:975K                                   Donnelley … Solutions/FA
 2/27/14  Freeport-McMoRan Inc.             10-K       12/31/13  143:55M
12/23/13  Freeport-McMoran Inc.             8-K:5,9    12/19/13    3:785K
 6/03/13  Freeport-McMoran Inc.             8-K:1,2,3,5 5/31/13   12:605K                                   Donnelley … Solutions/FA
 3/07/13  Freeport-McMoran Inc.             8-K:1,2,9   3/07/13    7:2.3M                                   Davis Polk & … LLP 01/FA
 2/13/12  Freeport-McMoran Inc.             8-K:1,8,9   2/08/12    7:814K                                   Donnelley … Solutions/FA
 4/29/11  Freeport-McMoran Inc.             8-K:5,9     4/27/11    3:65K
 8/06/10  Freeport-McMoran Inc.             10-Q        6/30/10   52:16M
 2/26/09  Freeport-McMoran Inc.             10-K       12/31/08   22:10M
 5/12/08  Freeport-McMoran Inc.             10-Q        3/31/08   10:2.7M
 2/05/07  Freeport-McMoran Inc.             8-K:5,9     1/30/07    3:192K
 6/07/05  Phelps Dodge Corp.                8-K:1,9     6/01/05    2:90K                                    Donnelley … Solutions/FA
 3/22/05  Phelps Dodge Corp.                8-K:1,2,9   3/18/05    3:405K                                   Donnelley … Solutions/FA
 3/07/05  Phelps Dodge Corp.                10-K       12/31/04   14:2.5M                                   Bowne - BPX/FA
 5/30/01  Phelps Dodge Corp.                8-K:7       5/29/01    4:86K                                    Donnelley … Solutions/FA
11/03/97  Phelps Dodge Corp.                8-K:7      10/31/97    4:89K                                    Bowne - BPX/FA
 9/25/97  Phelps Dodge Corp.                S-3                    8:350K                                   Bowne - BPX/FA
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