FCX · 10-Q · 2026Q2 · Full report

Income Tax Rate Changes

FREEPORT-MCMORAN INC · 2026-08-06 · Importance 54 · Surprise 40 · No source text

FCX’s consolidated effective tax rate declined to 30% in the first six months of 2026 from 37% in the comparable 2025 period. The consolidated income tax provision decreased to $1.2 billion from $1.4 billion despite higher pretax income of $4.0 billion versus $3.7 billion. South America had a 40% effective tax rate and a $624 million provision, Indonesia had a 35% rate and a $466 million provision, and the U.S. had a 6% rate and a $58 million provision primarily related to CAMT. FCX estimates a 2026 consolidated effective tax rate of approximately 30%, including estimated rates of 40% in Peru, 36% in Indonesia and 7% in the U.S.

Key facts

• Estimated consolidated operating cash flows for the year 2026 include a projected income tax provision of $2.6 billion. source
• We estimate consolidated effective tax rate for the year 2026 would approximate 30%, including estimated effective tax rates of 40% for Peru, 36% for Indonesia and 7% for the U.S. (associated with CAMT provisions), assuming prices of $6.00/lb copper, $4,000/oz gold and $30.00/lb molybdenum for second half 2026. source
• Six months ended June 30, 2026 consolidated income before income taxes was $3,964 million with an effective tax rate of 30% producing an income tax provision of $(1,197) million; six months ended June 30, 2025 consolidated income $3,682 million with a 37% effective tax rate producing $(1,350) million provision. source

Impact estimates