Business Segments



(In millions)	North America Copper Mines								South America							Indonesia			Africa
																									Atlantic			Corporate,
																									Copper			Other &
			Other						Cerro		Other										Molyb-		Rod &		Smelting			Elimi-			FCX
	Morenci		Mines			Total			Verde		Mines			Total		Grasberg			Tenke		denum		Refining		& Refining			nations			Total
Three Months Ended September 30, 2011
Revenues:
Unaffiliated customers	$	78	$	44		$	122		$	396	$	570		$	966	$	1,275	^a	$	275	$	332	$	1,389	$	834		$	2		$	5,195
Intersegment	450		847			1,297			105		(18		)	87		87			1		—		7		3			(1,482		)	—
Production and delivery	252		412			664			196		282			478		503			142		260		1,390		826			(1,693		)	2,570
Depreciation, depletion and amortization	27		40			67			32		32			64		62			32		14		2		11			5			257
Selling, general and administrative expenses	—		1			1			1		1			2		29			1		3		—		5			61			102
Exploration and research expenses	3		—			3			—		—			—		—			—		1		—		—			74			78
Environmental obligations and shutdown costs	1		(15		)	(14		)	—		—			—		—			—		—		—		—			52			38
Operating income (loss)	245		453			698			272		237			509		768			101		54		4		(5		)	21			2,150

Interest expense, net	—		1			1			—		—			—		7			2		—		—		4			64			78
Provision for income taxes	—		—			—			154		48			202		342			20		—		—		—			244			808
Total assets at September 30, 2011	1,981		4,966			6,947			4,886		3,475			8,361		5,437			3,791		2,342		323		955			3,552			31,708
Capital expenditures	21		117			138			64		110			174		162			49		155		2		5			32			717

Three Months Ended September 30, 2010
Revenues:
Unaffiliated customers	$	10	$	15		$	25		$	606	$	696		$	1,302	$	1,458	^a	$	307	$	293	$	1,174	$	592		$	1		$	5,152
Intersegment	364		609			973			84		79			163		416			—		—		7		3			(1,562		)	—
Production and delivery	185		351			536			194		268			462		528			141		199		1,172		590			(1,362		)	2,266
Depreciation, depletion and amortization	33		34			67			42		24			66		72			34		13		2		9			5			268
Selling, general and administrative expenses	—		—			—			—		—			—		25			—		2		—		4			50			81
Exploration and research expenses	—		—			—			—		—			—		—			—		1		—		—			34			35
Environmental obligations and shutdown costs	—		—			—			—		—			—		—			—		—		1		—			2			3
Operating income (loss)	156		239			395			454		483			937		1,249			132		78		6		(8		)	(290		)	2,499

Interest expense, net	1		2			3			—		—			—		—			2		—		—		2			96			103
Provision for income taxes	—		—			—			147		151			298		499			32		—		—		—			16			845
Total assets at September 30, 2010	1,919		4,271			6,190			4,308		3,245			7,553		5,712			3,540		1,837		335		1,201			1,583			27,951
Capital expenditures	13		46			59			32		97			129		116			9		22		2		4			9			350


a.	Includes PT Freeport Indonesia’s sales to PT Smelting totaling $665 million in third-quarter 2011 and $603 million in third-quarter 2010.

Business Segments (Continued)



(In millions)	North America Copper Mines								South America						Indonesia			Africa
																								Atlantic			Corporate,
																								Copper			Other &
			Other						Cerro		Other									Molyb-		Rod &		Smelting			Elimi-			FCX
	Morenci		Mines			Total			Verde		Mines		Total		Grasberg			Tenke		denum		Refining		& Refining			nations			Total
Nine Months Ended September 30, 2011
Revenues:
Unaffiliated customers	$	371	$	154		$	525		$	1,662	$	1,803	$	3,465	$	4,112	^a	$	959	$	1,119	$	4,291	$	2,241		$	6		$	16,718
Intersegment	1,274		2,540			3,814			303		135		438		544			4		—		19		11			(4,830		)	—
Production and delivery	719		1,204			1,923			569		761		1,330		1,547			422		786		4,292		2,274			(5,070		)	7,504
Depreciation, depletion and amortization	85		111			196			102		85		187		179			98		44		6		30			16			756
Selling, general and administrative expenses	1		2			3			3		2		5		100			6		11		—		18			180			323
Exploration and research expenses	4		—			4			—		—		—		—			—		3		—		—			187			194
Environmental obligations and shutdown costs	4		(15		)	(11		)	—		—		—		—			—		—		1		—			108			98
Operating income (loss)	832		1,392			2,224			1,291		1,090		2,381		2,830			437		275		11		(70		)	(245		)	7,843

Interest expense, net	2		4			6			1		—		1		9			5		—		—		12			217			250
Provision for income taxes	—		—			—			476		353		829		1,241			100		—		—		—			528			2,698
Capital expenditures	69		273			342			120		311		431		463			89		317		7		29			71			1,749

Nine Months Ended September 30, 2010
Revenues:
Unaffiliated customers	$	20	$	31		$	51		$	1,338	$	1,646	$	2,984	$	3,490	^a	$	763	$	893	$	3,363	$	1,830		$	5		$	13,379
Intersegment	1,107		1,958			3,065			275		124		399		770			—		—		20		14			(4,268		)	—
Production and delivery	509		1,048			1,557			513		714		1,227		1,430			347		574		3,360		1,823			(4,084		)	6,234
Depreciation, depletion and amortization	110		110			220			109		77		186		192			94		38		6		28			24			788
Selling, general and administrative expenses	—		—			—			—		—		—		77			—		8		—		14			178			277
Exploration and research expenses	—		—			—			—		—		—		—			—		2		—		—			102			104
Environmental obligations and shutdown costs	—		—			—			—		—		—		—			—		—		1		—			4			5
Operating income (loss)	508		831			1,339			991		979		1,970		2,561			322		271		16		(21		)	(487		)	5,971

Interest expense, net	3		8			11			—		—		—		—			4		—		—		7			348			370
Provision for income taxes	—		—			—			320		309		629		1,069			75		—		—		—			183			1,956
Capital expenditures	28		112			140			63		220		283		311			59		34		4		16			30			877


a.	Includes PT Freeport Indonesia's sales to PT Smelting totaling $2.0 billion in the first nine months of 2011 and $1.5 billion in the first nine months of 2010.