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10-Q Filing

FREEPORT-MCMORAN INC CIK: 831259 Q1 2013
Filing Information
Form Type 10-Q
Accession Number 0000831259-13-000039
Period End Date 20130331
Filing Date 20130506
Fiscal Year 2013
Fiscal Period Q1
XBRL Instance fcx-20130331.xml
Balance Sheet 65 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $4.82B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $9.60B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $3.71B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $4.50B USD Point-in-time
Trade accounts receivable AccountsReceivableNetCurrent $1.08B USD Point-in-time
Trade accounts receivable AccountsReceivableNetCurrent $927.00M USD Point-in-time
Other accounts receivable NontradeReceivablesCurrent $702.00M USD Point-in-time
Other accounts receivable NontradeReceivablesCurrent $687.00M USD Point-in-time
Mill and leach stockpiles MillAndLeachStockpiles $1.70B USD Point-in-time
Mill and leach stockpiles MillAndLeachStockpiles $1.67B USD Point-in-time
Materials and supplies, net InventorySuppliesNetOfReserves $1.57B USD Point-in-time
Materials and supplies, net InventorySuppliesNetOfReserves $1.50B USD Point-in-time
Product Product $1.54B USD Point-in-time
Product Product $1.40B USD Point-in-time
Other current assets OtherAssetsCurrent $387.00M USD Point-in-time
Other current assets OtherAssetsCurrent $410.00M USD Point-in-time
Total current assets AssetsCurrent $16.58B USD Point-in-time
Total current assets AssetsCurrent $10.30B USD Point-in-time
Property, plant, equipment and development costs, net PropertyPlantAndEquipmentNet $21.00B USD Point-in-time
Property, plant, equipment and development costs, net PropertyPlantAndEquipmentNet $21.69B USD Point-in-time
Long-term mill and leach stockpiles LongTermMillAndLeachStockpiles $1.96B USD Point-in-time
Long-term mill and leach stockpiles LongTermMillAndLeachStockpiles $2.08B USD Point-in-time
Other assets OtherAssetsNoncurrent $2.23B USD Point-in-time
Other assets OtherAssetsNoncurrent $2.19B USD Point-in-time
Total assets Assets $35.44B USD Point-in-time
Total assets Assets $32.91B USD Point-in-time
Total assets Assets $42.59B USD Point-in-time
Accounts payable and accrued liabilities AccountsPayableAndOtherAccruedLiabilitiesCurrent $2.89B USD Point-in-time
Accounts payable and accrued liabilities AccountsPayableAndOtherAccruedLiabilitiesCurrent $3.01B USD Point-in-time
Current portion of reclamation and environmental obligations CurrentPortionOfReclamationAndEnvironmentalObligations $254.00M USD Point-in-time
Current portion of reclamation and environmental obligations CurrentPortionOfReclamationAndEnvironmentalObligations $241.00M USD Point-in-time
Accrued income taxes AccruedIncomeTaxesCurrent $93.00M USD Point-in-time
Accrued income taxes AccruedIncomeTaxesCurrent $125.00M USD Point-in-time
Current portion of debt DebtCurrent $4.00M USD Point-in-time
Current portion of debt DebtCurrent $2.00M USD Point-in-time
Total current liabilities LiabilitiesCurrent $3.27B USD Point-in-time
Total current liabilities LiabilitiesCurrent $3.34B USD Point-in-time
Long-term debt, less current portion LongTermDebtNoncurrent $3.52B USD Point-in-time
Long-term debt, less current portion LongTermDebtNoncurrent $10.09B USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $3.58B USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $3.49B USD Point-in-time
Reclamation and environmental obligations, less current portion ReclamationAndEnvironmentalObligationsLessCurrentPortion $2.13B USD Point-in-time
Reclamation and environmental obligations, less current portion ReclamationAndEnvironmentalObligationsLessCurrentPortion $2.13B USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $1.64B USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $1.67B USD Point-in-time
Total liabilities Liabilities $14.13B USD Point-in-time
Total liabilities Liabilities $20.74B USD Point-in-time
Common stock CommonStockValue $107.00M USD Point-in-time
Common stock CommonStockValue $107.00M USD Point-in-time
Capital in excess of par value AdditionalPaidInCapital $19.16B USD Point-in-time
Capital in excess of par value AdditionalPaidInCapital $19.12B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $2.40B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $2.75B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-500.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-506.00M USD Point-in-time
Common stock held in treasury TreasuryStockValue $3.58B USD Point-in-time
Common stock held in treasury TreasuryStockValue $3.58B USD Point-in-time
Total FCX stockholders' equity StockholdersEquity $17.54B USD Point-in-time
Total FCX stockholders' equity StockholdersEquity $17.94B USD Point-in-time
Noncontrolling interests MinorityInterest $3.91B USD Point-in-time
Noncontrolling interests MinorityInterest $3.77B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $21.85B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $21.31B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $42.59B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $35.44B USD Point-in-time
Income Statement 46 line items
Line Item Tag Value Unit Period
Revenues RevenueMineralSales $4.58B USD 1 Quarter
Revenues RevenueMineralSales $4.61B USD 1 Quarter
Production and delivery ProductionAndDelivery $2.72B USD 1 Quarter
Production and delivery ProductionAndDelivery $2.43B USD 1 Quarter
Depreciation, depletion and amortization CostOfGoodsSoldDepreciationDepletionAndAmortization $267.00M USD 1 Quarter
Depreciation, depletion and amortization CostOfGoodsSoldDepreciationDepletionAndAmortization $329.00M USD 1 Quarter
Total cost of sales CostOfGoodsSold $2.69B USD 1 Quarter
Total cost of sales CostOfGoodsSold $3.05B USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $104.00M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $113.00M USD 1 Quarter
Exploration and research expenses ExplorationAndResearchExpenses $62.00M USD 1 Quarter
Exploration and research expenses ExplorationAndResearchExpenses $52.00M USD 1 Quarter
Environmental obligations and shutdown costs EnvironmentalObligationsAndShutdownCosts $10.00M USD 1 Quarter
Environmental obligations and shutdown costs EnvironmentalObligationsAndShutdownCosts $15.00M USD 1 Quarter
Total costs and expenses CostsAndExpenses $2.87B USD 1 Quarter
Total costs and expenses CostsAndExpenses $3.23B USD 1 Quarter
Operating income OperatingIncomeLoss $1.35B USD 1 Quarter
Operating income OperatingIncomeLoss $1.73B USD 1 Quarter
Interest expense, net InterestExpenseIncludingAccretion $57.00M USD 1 Quarter
Interest expense, net InterestExpenseIncludingAccretion $63.00M USD 1 Quarter
Losses on early extinguishment of debt GainsLossesOnExtinguishmentOfDebt $-168.00M USD 1 Quarter
Losses on early extinguishment of debt GainsLossesOnExtinguishmentOfDebt $-45.00M USD 1 Quarter
Other expense, net OtherNonoperatingIncomeExpense $-3.00M USD 1 Quarter
Other expense, net OtherNonoperatingIncomeExpense $-13.00M USD 1 Quarter
Income before income taxes and equity in affiliated companies' net earnings IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $1.25B USD 1 Quarter
Income before income taxes and equity in affiliated companies' net earnings IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $1.49B USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $491.00M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $428.00M USD 1 Quarter
Equity in affiliated companies' net earnings IncomeLossFromEquityMethodInvestments $2.00M USD 1 Quarter
Equity in affiliated companies' net earnings IncomeLossFromEquityMethodInvestments $2.00M USD 1 Quarter
Net income ProfitLoss $1.00B USD 1 Quarter
Net income ProfitLoss $824.00M USD 1 Quarter
Net income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $176.00M USD 1 Quarter
Net income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $237.00M USD 1 Quarter
Net income attributable to FCX common stockholders NetIncomeLossAvailableToCommonStockholdersBasic $648.00M USD 1 Quarter
Net income attributable to FCX common stockholders NetIncomeLossAvailableToCommonStockholdersBasic $764.00M USD 1 Quarter
Basic EarningsPerShareBasic $0.68 USD 1 Quarter
Basic EarningsPerShareBasic $0.81 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.68 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.80 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 949.00M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 950.00M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 955.00M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 953.00M shares 1 Quarter
Dividends declared per share of common stock CommonStockDividendsPerShareDeclared $0.31 USD 1 Quarter
Dividends declared per share of common stock CommonStockDividendsPerShareDeclared $0.31 USD 1 Quarter
Cash Flow Statement 76 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $1.00B USD 1 Quarter
Net income ProfitLoss $824.00M USD 1 Quarter
Depreciation, depletion and amortization CostOfGoodsSoldDepreciationDepletionAndAmortization $267.00M USD 1 Quarter
Depreciation, depletion and amortization CostOfGoodsSoldDepreciationDepletionAndAmortization $329.00M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $41.00M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $32.00M USD 1 Quarter
Pension plans contributions PensionContributions $22.00M USD 1 Quarter
Pension plans contributions PensionContributions $52.00M USD 1 Quarter
Net charges for reclamation and environmental obligations, including accretion ChargesForReclamationAndEnvironmentalObligationsIncludingAccretion $34.00M USD 1 Quarter
Net charges for reclamation and environmental obligations, including accretion ChargesForReclamationAndEnvironmentalObligationsIncludingAccretion $35.00M USD 1 Quarter
Payments for reclamation and environmental obligations PaymentsOfReclamationAndEnvironmentalObligations $36.00M USD 1 Quarter
Payments for reclamation and environmental obligations PaymentsOfReclamationAndEnvironmentalObligations $45.00M USD 1 Quarter
Losses on early extinguishment of debt GainsLossesOnExtinguishmentOfDebt $-168.00M USD 1 Quarter
Losses on early extinguishment of debt GainsLossesOnExtinguishmentOfDebt $-45.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $136.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $168.00M USD 1 Quarter
Increase in long-term mill and leach stockpiles IncreaseDecreaseInLongTermMillAndLeachStockpiles $61.00M USD 1 Quarter
Increase in long-term mill and leach stockpiles IncreaseDecreaseInLongTermMillAndLeachStockpiles $126.00M USD 1 Quarter
Other, net IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet $-36.00M USD 1 Quarter
Other, net IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet $-8.00M USD 1 Quarter
Accounts receivable IncreaseDecreaseInReceivables $113.00M USD 1 Quarter
Accounts receivable IncreaseDecreaseInReceivables $482.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $248.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $67.00M USD 1 Quarter
Other current assets IncreaseDecreaseInOtherCurrentAssets $-40.00M USD 1 Quarter
Other current assets IncreaseDecreaseInOtherCurrentAssets $48.00M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-201.00M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-64.00M USD 1 Quarter
Accrued income taxes and other tax payments IncreaseDecreaseInAccruedTaxesPayable $-1.00M USD 1 Quarter
Accrued income taxes and other tax payments IncreaseDecreaseInAccruedTaxesPayable $34.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $801.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $831.00M USD 1 Quarter
North America copper mines NorthAmericaCapitalExpenditures $258.00M USD 1 Quarter
North America copper mines NorthAmericaCapitalExpenditures $143.00M USD 1 Quarter
South America SouthAmericanCapitalExpenditures $152.00M USD 1 Quarter
South America SouthAmericanCapitalExpenditures $226.00M USD 1 Quarter
Indonesia IndonesiaCapitalExpenditures $191.00M USD 1 Quarter
Indonesia IndonesiaCapitalExpenditures $182.00M USD 1 Quarter
Africa AfricanCapitalExpenditures $127.00M USD 1 Quarter
Africa AfricanCapitalExpenditures $57.00M USD 1 Quarter
Molybdenum mines CapitalExpendituresMolybdenum $93.00M USD 1 Quarter
Molybdenum mines CapitalExpendituresMolybdenum $40.00M USD 1 Quarter
Other PaymentsToAcquireOtherProductiveAssets $10.00M USD 1 Quarter
Other PaymentsToAcquireOtherProductiveAssets $33.00M USD 1 Quarter
Acquisition of cobalt refinery, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired - USD 1 Quarter
Acquisition of cobalt refinery, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $321.00M USD 1 Quarter
Other, net PaymentsForProceedsFromOtherInvestingActivities $7.00M USD 1 Quarter
Other, net PaymentsForProceedsFromOtherInvestingActivities $-14.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-714.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-1.11B USD 1 Quarter
Proceeds from debt ProceedsFromIssuanceOfDebt $6.62B USD 1 Quarter
Proceeds from debt ProceedsFromIssuanceOfDebt $3.00B USD 1 Quarter
Repayments of debt RepaymentsOfDebtAndCapitalLeaseObligations $3.16B USD 1 Quarter
Repayments of debt RepaymentsOfDebtAndCapitalLeaseObligations $39.00M USD 1 Quarter
Common stock PaymentsOfDividendsCommonStock $238.00M USD 1 Quarter
Common stock PaymentsOfDividendsCommonStock $297.00M USD 1 Quarter
Noncontrolling interests PaymentsOfDividendsMinorityInterest $35.00M USD 1 Quarter
Noncontrolling interests PaymentsOfDividendsMinorityInterest $1.00M USD 1 Quarter
Debt financing costs ProceedsFromPaymentsForOtherFinancingActivities $-72.00M USD 1 Quarter
Debt financing costs ProceedsFromPaymentsForOtherFinancingActivities $-22.00M USD 1 Quarter
Net payments for stock-based awards NetProceedsPaymentsFromShareBasedAwards $-2.00M USD 1 Quarter
Net payments for stock-based awards NetProceedsPaymentsFromShareBasedAwards $-4.00M USD 1 Quarter
Excess tax benefit from stock-based awards ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $7.00M USD 1 Quarter
Excess tax benefit from stock-based awards ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $1.00M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-413.00M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $6.17B USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $5.89B USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-326.00M USD 1 Quarter
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $4.82B USD Point-in-time
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $9.60B USD Point-in-time
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $3.71B USD Point-in-time
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $4.50B USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $4.82B USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $9.60B USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $3.71B USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $4.50B USD Point-in-time
Stockholders Equity 12 line items
Line Item Tag Value Unit Period
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $21.85B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $21.31B USD Point-in-time
Exercised and issued stock-based awards StockIssuedDuringPeriodValueShareBasedCompensation $2.00M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $41.00M USD 1 Quarter
Tax benefit for stock-based awards AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation $1.00M USD 1 Quarter
Tender of shares for stock-based awards TenderOfSharesForStockBasedAwardsValue $-4.00M USD 1 Quarter
Dividends on common stock DividendsCommonStockCash $297.00M USD 1 Quarter
Dividends to noncontrolling interests MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $35.00M USD 1 Quarter
Total comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $1.01B USD 1 Quarter
Total comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $830.00M USD 1 Quarter
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $21.85B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $21.31B USD Point-in-time
Comprehensive Income 16 line items
Line Item Tag Value Unit Period
Net Income ProfitLoss $1.00B USD 1 Quarter
Net Income ProfitLoss $824.00M USD 1 Quarter
Amortization of unrecognized amounts included in net periodic benefit costs OtherComprehensiveIncomeLossAmortizationPensionAndOtherPostretirementBenefitPlansNetPriorServiceCostRecognizedInNetPeriodicPensionCostNetOfTax $-7.00M USD 1 Quarter
Amortization of unrecognized amounts included in net periodic benefit costs OtherComprehensiveIncomeLossAmortizationPensionAndOtherPostretirementBenefitPlansNetPriorServiceCostRecognizedInNetPeriodicPensionCostNetOfTax $-7.00M USD 1 Quarter
Adjustment to deferred tax valuation allowance ValuationAllowanceDeferredTaxAssetChangeInAmount - USD 1 Quarter
Adjustment to deferred tax valuation allowance ValuationAllowanceDeferredTaxAssetChangeInAmount $5.00M USD 1 Quarter
Unrealized losses on securities arising during the period OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $-1.00M USD 1 Quarter
Unrealized losses on securities arising during the period OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax - USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $12.00M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $6.00M USD 1 Quarter
Total comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $1.01B USD 1 Quarter
Total comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $830.00M USD 1 Quarter
Total comprehensive income attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $176.00M USD 1 Quarter
Total comprehensive income attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $237.00M USD 1 Quarter
Total comprehensive income attributable to FCX common stockholders ComprehensiveIncomeNetOfTax $654.00M USD 1 Quarter
Total comprehensive income attributable to FCX common stockholders ComprehensiveIncomeNetOfTax $776.00M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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