QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

12 Months Ended

Dec. 31, 2012

Quarterly Financial Data [Abstract]

Quarterly Financial Information

QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Year
2012
Revenues	$	4,605		$	4,475		$	4,417		$	4,513		$	18,010
Operating income	1,734			1,311			1,411			1,358		a,b	5,814		a,b
Net income	1,001			894			1,140		c	945			3,980		c
Net income attributable to noncontrolling
interests	237			184			316		c	202			939		c
Net income attributable to FCX common
stockholders	764		d	710			824		c	743		a,b	3,041		a,b,c,d
Basic net income per share attributable
to FCX common stockholders	0.81			0.75			0.87			0.78			3.20
Diluted net income per share attributable
to FCX common stockholders	0.80		d	0.74			0.86		c	0.78		a,b	3.19		a,b,c,d
2011
Revenues	$	5,709		$	5,814		$	5,195		$	4,162		$	20,880
Operating income	2,936			2,757			2,150			1,297		e	9,140		e
Net income	1,861			1,726			1,294			866			5,747
Net income attributable to noncontrolling
interests	362			358			241			226			1,187
Net income attributable to FCX common
stockholders	1,499		f	1,368		f	1,053		g	640		e	4,560		e,f,g
Basic net income per share attributable
to FCX common stockholders	1.58			1.44			1.11			0.67			4.81
Diluted net income per share attributable
to FCX common stockholders	1.57		f	1.43		f	1.10		g	0.67		e	4.78		e,f,g

a. Included a gain of $59 million ($31 million to net income attributable to FCX common stockholders or $0.03 per share) in the fourth quarter and for the year for the settlement of the insurance claim for business interruption and property damage relating to the 2011 incidents affecting PT Freeport Indonesia's concentrate pipelines. Refer to Note 13 for further discussion.

b. Included a charge of $16 million ($8 million to net income attributable to FCX common stockholders or $0.01 per share) in the fourth quarter and for the year associated with labor agreements at Candelaria. Also included charges of $9 million ($7 million to net income attributable to FCX common stockholders or $0.01 per share) for costs associated with the PXP and MMR transactions.

c. Included a net tax benefit of $208 million ($108 million attributable to noncontrolling interests and $100 million to net income attributable to FCX common stockholders or $0.11 per share) in the third quarter and $205 million ($107 million attributable to noncontrolling interests and $98 million to net income attributable to FCX common stockholders or $0.11 per share) for the year associated with adjustments to Cerro Verde's deferred income taxes. Refer to Note 12 for further discussion.

d. Included losses on early extinguishment of debt totaling $149 million ($0.16 per share) in the first quarter and for the year. Refer to Note 9 for further discussion.

e. Included charges totaling $116 million ($50 million to net income attributable to common stock or $0.05 per share) in the fourth quarter and for the year primarily associated with bonuses for new labor agreements and other employee costs at PT Freeport Indonesia, Cerro Verde and El Abra.

f. Included losses on early extinguishment of debt totaling $6 million ($0.01 per share) in the first quarter, $54 million ($0.06 per share) in the second quarter and $60 million ($0.06 per share) for the year. Refer to Note 9 for further discussion.

g. Included additional taxes of $50 million ($0.05 per share) in the third quarter and $49 million ($0.05 per share) for the year associated with Cerro Verde's election to pay a special mining burden during the remaining term of its current stability agreement. Refer to Note 12 for further discussion.