XML 33 R36.htm IDEA: XBRL DOCUMENT v2.4.0.6
Business Segments (Unaudited) (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Dec. 31, 2011
Revenues:          
Unaffiliated customers $ 4,417 $ 5,195 $ 13,497 $ 16,718  
Intersegment 0 0 0 0  
Production and delivery 2,592 2,570 7,642 7,504  
Depreciation, depletion and amortization 298 257 856 756  
Selling, general and administrative expenses 110 102 311 323  
Exploration and research expenses 79 78 214 194  
Environmental obligations and shutdown costs (73) 38 18 98  
Operating income (loss) 1,411 2,150 4,456 7,843  
Interest expense, net 42 78 148 250  
Provision for income taxes 215 808 1,128 2,698  
Total assets 34,517 31,708 34,517 31,708 32,070
Capital expenditures 971 717 2,518 1,749  
Sales from PT Freeport Indonesia to PT Smelting 520 665 1,477 2,000  
North America Copper Mines Segment [Member]
         
Revenues:          
Unaffiliated customers 49 122 179 525  
Intersegment 1,267 1,297 4,020 3,814  
Production and delivery 760 664 2,249 1,923  
Depreciation, depletion and amortization 88 67 275 196  
Selling, general and administrative expenses 1 1 3 3  
Exploration and research expenses 1 3 1 4  
Environmental obligations and shutdown costs 0 (14) 42 (11)  
Operating income (loss) 466 698 1,629 2,224  
Interest expense, net 2 1 4 6  
Provision for income taxes 0 0 0 0  
Total assets 7,825 6,947 7,825 6,947  
Capital expenditures 272 138 569 342  
Morenci [Member]
         
Revenues:          
Unaffiliated customers 39 78 157 371  
Intersegment 456 450 1,374 1,274  
Production and delivery 268 252 803 719  
Depreciation, depletion and amortization 31 27 95 85  
Selling, general and administrative expenses 0 0 1 1  
Exploration and research expenses 1 3 1 4  
Environmental obligations and shutdown costs 0 1 0 4  
Operating income (loss) 195 245 631 832  
Interest expense, net 1 0 1 2  
Provision for income taxes 0 0 0 0  
Total assets 2,297 1,981 2,297 1,981  
Capital expenditures 108 21 204 69  
Other North America Copper Mines [Member]
         
Revenues:          
Unaffiliated customers 10 44 22 154  
Intersegment 811 847 2,646 2,540  
Production and delivery 492 412 1,446 1,204  
Depreciation, depletion and amortization 57 40 180 111  
Selling, general and administrative expenses 1 1 2 2  
Exploration and research expenses 0 0 0 0  
Environmental obligations and shutdown costs 0 (15) 42 (15)  
Operating income (loss) 271 453 998 1,392  
Interest expense, net 1 1 3 4  
Provision for income taxes 0 0 0 0  
Total assets 5,528 4,966 5,528 4,966  
Capital expenditures 164 117 365 273  
South America Mines Segment [Member]
         
Revenues:          
Unaffiliated customers 995 966 2,848 3,465  
Intersegment 197 87 614 438  
Production and delivery 530 478 1,483 1,330  
Depreciation, depletion and amortization 74 64 208 187  
Selling, general and administrative expenses 2 2 5 5  
Exploration and research expenses 0 0 0 0  
Environmental obligations and shutdown costs 0 0 0 0  
Operating income (loss) 586 509 1,766 2,381  
Interest expense, net 0 0 5 1  
Provision for income taxes (16) 202 375 829  
Total assets 9,936 8,361 9,936 8,361  
Capital expenditures 267 174 659 431  
Cerro Verde [Member]
         
Revenues:          
Unaffiliated customers 504 396 1,285 1,662  
Intersegment 71 105 349 303  
Production and delivery 197 196 575 569  
Depreciation, depletion and amortization 39 32 102 102  
Selling, general and administrative expenses 1 1 2 3  
Exploration and research expenses 0 0 0 0  
Environmental obligations and shutdown costs 0 0 0 0  
Operating income (loss) 338 272 955 1,291  
Interest expense, net 0 0 5 1  
Provision for income taxes (88) [1] 154 131 [1] 476  
Total assets 5,704 4,886 5,704 4,886  
Capital expenditures 180 64 365 120  
Other South America Mines [Member]
         
Revenues:          
Unaffiliated customers 491 570 1,563 1,803  
Intersegment 126 (18) 265 135  
Production and delivery 333 282 908 761  
Depreciation, depletion and amortization 35 32 106 85  
Selling, general and administrative expenses 1 1 3 2  
Exploration and research expenses 0 0 0 0  
Environmental obligations and shutdown costs 0 0 0 0  
Operating income (loss) 248 237 811 1,090  
Interest expense, net 0 0 0 0  
Provision for income taxes 72 48 244 353  
Total assets 4,232 3,475 4,232 3,475  
Capital expenditures 87 110 294 311  
Indonesia - Grasberg [Member]
         
Revenues:          
Unaffiliated customers 845 [2] 1,275 [2] 2,673 [3] 4,112 [3]  
Intersegment 146 87 224 544  
Production and delivery 587 503 1,676 1,547  
Depreciation, depletion and amortization 54 62 153 179  
Selling, general and administrative expenses 31 29 91 100  
Exploration and research expenses 0 0 0 0  
Environmental obligations and shutdown costs 0 0 0 0  
Operating income (loss) 319 768 977 2,830  
Interest expense, net 3 7 6 9  
Provision for income taxes 111 333 387 1,234  
Total assets 6,393 5,437 6,393 5,437  
Capital expenditures 237 162 624 463  
Africa - Tenke [Member]
         
Revenues:          
Unaffiliated customers 365 275 985 959  
Intersegment 2 1 9 4  
Production and delivery 172 142 456 422  
Depreciation, depletion and amortization 42 32 114 98  
Selling, general and administrative expenses 2 1 5 6  
Exploration and research expenses 0 0 0 0  
Environmental obligations and shutdown costs 0 0 0 0  
Operating income (loss) 151 101 419 437  
Interest expense, net 0 2 0 5  
Provision for income taxes 28 20 79 100  
Total assets 4,490 3,791 4,490 3,791  
Capital expenditures 131 49 428 89  
Molybdenum [Member]
         
Revenues:          
Unaffiliated customers 308 332 982 1,119  
Intersegment 0 0 0 0  
Production and delivery 273 260 812 786  
Depreciation, depletion and amortization 18 14 47 44  
Selling, general and administrative expenses 3 3 9 11  
Exploration and research expenses 0 1 2 3  
Environmental obligations and shutdown costs 0 0 0 0  
Operating income (loss) 14 54 112 275  
Interest expense, net 0 0 0 0  
Provision for income taxes 0 0 0 0  
Total assets 2,580 2,342 2,580 2,342  
Capital expenditures 44 155 197 317  
Rod & Refining [Member]
         
Revenues:          
Unaffiliated customers 1,221 1,389 3,802 4,291  
Intersegment 7 7 20 19  
Production and delivery 1,222 1,390 3,800 4,292  
Depreciation, depletion and amortization 2 2 7 6  
Selling, general and administrative expenses 0 0 0 0  
Exploration and research expenses 0 0 0 0  
Environmental obligations and shutdown costs 0 0 0 1  
Operating income (loss) 4 4 15 11  
Interest expense, net 0 0 0 0  
Provision for income taxes 0 0 0 0  
Total assets 330 323 330 323  
Capital expenditures 2 2 5 7  
Atlantic Copper Smelting & Refining [Member]
         
Revenues:          
Unaffiliated customers 633 834 2,023 2,241  
Intersegment 5 3 22 11  
Production and delivery 624 826 1,988 2,274  
Depreciation, depletion and amortization 11 11 31 30  
Selling, general and administrative expenses 4 5 14 18  
Exploration and research expenses 0 0 0 0  
Environmental obligations and shutdown costs 0 0 0 0  
Operating income (loss) (1) (5) 12 (70)  
Interest expense, net 3 4 9 12  
Provision for income taxes 0 0 0 0  
Total assets 1,192 955 1,192 955  
Capital expenditures 4 5 11 29  
Corporate, Other & Eliminations [Member]
         
Revenues:          
Unaffiliated customers 1 2 5 6  
Intersegment (1,624) (1,482) (4,909) (4,830)  
Production and delivery (1,576) (1,693) (4,822) (5,070)  
Depreciation, depletion and amortization 9 5 21 16  
Selling, general and administrative expenses 67 61 184 180  
Exploration and research expenses 78 74 211 187  
Environmental obligations and shutdown costs (73) 52 (24) 108  
Operating income (loss) (128) 21 (474) (245)  
Interest expense, net 34 64 124 217  
Provision for income taxes 92 253 287 535  
Total assets 1,771 3,552 1,771 3,552  
Capital expenditures 14 32 25 71  
Cerro Verde [Member]
         
Revenues:          
Deferred Foreign Income Tax Expense (Benefit) Associated with Foreign Reinvested Profits $ (234)        
[1] Included a net credit of $234 million for the reversal of a net deferred tax liability (refer to Note 4 for further discussion).
[2] Included PT Freeport Indonesia’s sales to PT Smelting totaling $520 million in third-quarter 2012 and $665 million in third-quarter 2011.
[3] Included PT Freeport Indonesia’s sales to PT Smelting totaling $1.5 billion for the first nine months of 2012 and $2.0 billion for the first nine months of 2011.