Income statement of Freeport-McMoran :- -What is the company’s (weighted) averag
ID: 2577572 • Letter: I
Question
Income statement of Freeport-McMoran :-
-What is the company’s (weighted) average number of shares-basic?
-What are the company’s basic earnings per share?
-What are the company’s total sales/revenues/net sales?
-What is the company’s total operating income/income from operations?
-What is the company’s interest expense (net)?
-What is the company’s pretax income (earnings)/income before taxes?
-What is the company’s income tax expense/provision for income taxes or zakat?
-What is the company’s net income/net earnings?
-Calculate profitability ratios for the two company and compare which company is better?
-Look at income statement presentation, which method does company follow: IASB or GAAP? How can you tell, be specific? In your opinion which income statement is better, IASB or GAAP?
*NOTE THE INFORMATIONS ARE FROM THE ANNUAL REPORT OF THE COMPANY FOR 2016>>>> THANK YOU FOR YOUR HARD WORK
FREEPORT-McMoRan INC. CONSOLIDATED STATEMENTS OF OPERATIONS Years Ended December 31 2015 (In millions, except per share amounts) 2016 2014 Revenues Cost of sales: $14.830 S 14,607 $20,001 10.697 2,530 4.317 36 17,580 607 64 20 11.116 3,635 3,737 10,693 3,240 13,144 338 27,415 558 107 Production and delivery Impairment of oil and gas properties Metals inventory adjustments 18.494 580 106 119 Total cost of sales Selling, general and administrative expenses Mining exploration and research expenses Environmental obligations and shutdown costs Goodwill impairment Net gain on sales of assets (649) 17,622 (2,792) (755) 26 49 Total costs and expenses Operating loss Interest expense, net Net gain on exchanges and early extinguishment of debt Other income, net Loss from continuing operations before income taxes and equity in 28,119 (13,512) (617) 20,299 (298) (606) 73 (3,472) (371) (800) (225) affiliated companies' net earnings (losses) (14,128) (Provision for) benefit from income taxes Equity in affiliated companies' net earnings (losses) Net loss from continuing operations Net (loss) income from discontinued operations Net loss Net income attributable to noncontrolling interests: (3,832) (12,180) (4,025) 12,089) (27) (1,022) 277 (745) Continuing operations Gain on redemption and preferred dividends attributable to redeemable Net loss attributable to common stockholders (227) (63) (358) (165) noncontrolling interest 161 (4.154) S (12,236) $ (1.308) Basic and diluted net (loss) income per share attributable to common $ (2.96) S(11.32) $ 1.37) Discontinued operations 0.01 1.318 1,039 Basic and diluted weighted-average common shares outstanding Dividends declared per share of common stock The accompanying Notes to Consolidated Financial Statements are an integral part of these consolidated financial statements. 1,082 = - S 0.2605 $ 124Explanation / Answer
What is the company’s (weighted) average number of shares-basic? 1318 millions -What are the company’s basic earnings per share? ($3.16) -What are the company’s total sales/revenues/net sales? 14830 million -What is the company’s total operating income/income from operations? -2792 million -What is the company’s interest expense (net)? 755 million -What is the company’s pretax income (earnings)/income before taxes? -3472 million -What is the company’s income tax expense/provision for income taxes or zakat? -371 million -What is the company’s net income/net earnings? -4025 million The company has followed GAAP in presentation of finnacial statements This we have come to know by the forma used in preparing the statements and also from the disclosure made by the company. And all the accounting estimate is according to GAAP