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INCOME TAXES (Details) (USD $)
3 Months Ended 12 Months Ended 1 Months Ended 3 Months Ended 12 Months Ended
Sep. 30, 2012
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Jul. 31, 2012
Cerro Verde [Member]
Sep. 30, 2011
Cerro Verde [Member]
Dec. 31, 2012
Cerro Verde [Member]
Dec. 31, 2011
Cerro Verde [Member]
Dec. 31, 2011
Current [Member]
Cerro Verde [Member]
Dec. 31, 2011
Deferred [Member]
Cerro Verde [Member]
Income before income taxes and equity in affiliated companies' net earnings [Abstract]                    
United States   $ 1,539,000,000 $ 2,112,000,000 $ 1,307,000,000            
Foreign   3,948,000,000 6,706,000,000 7,205,000,000            
Total   5,487,000,000 8,818,000,000 8,512,000,000            
Current income taxes:                    
Federal   238,000,000 394,000,000 207,000,000            
State   7,000,000 21,000,000 27,000,000            
Foreign   1,002,000,000 1,934,000,000 2,500,000,000            
Total current   1,247,000,000 2,349,000,000 2,734,000,000            
Deferred income taxes (benefits):                    
Federal   87,000,000 82,000,000 20,000,000            
State   18,000,000 (19,000,000) (10,000,000)            
Foreign   363,000,000 622,000,000 239,000,000            
Total deferred   468,000,000 685,000,000 249,000,000            
Changes in Peruvian taxes 208,000,000 [1],[2] (205,000,000) [1],[2] 53,000,000 [3] 0            
Provision for income taxes   1,510,000,000 3,087,000,000 2,983,000,000            
Term of Stability Agreement         15 years          
Foreign Income Tax Rate Under Old Stability Agreement         30.00%          
Foreign Income Tax Rate Under New Stability Agreegment         32.00%          
Deferred Foreign Income Tax Expense from New Stability Agreement             29,000,000      
Deferred Foreign Income Tax Expense from New Stability Agreement Net of Noncontrolling Interest             25,000,000      
Deferred Foreign Income Tax Expense (Benefit) Associated with Foreign Reinvested Profits             234,000,000      
Deferred Foreign Income Tax Expense (Benefit) Associated with Foreign Reinvested Profits, Net of Noncontrolling Interest             123,000,000      
Additional Tax Expense From New Legislation On Mining Royalties               53,000,000 14,000,000 39,000,000
Additional Tax Expense From New Legislation On Mining Royalties Net Of Noncontrolling Interests           50,000,000   49,000,000    
Income tax expense (benefit), reconciliation [Abstract]                    
U.S. federal statutory tax rate   1,920,000,000 3,086,000,000 2,979,000,000            
Foreign tax credit limitation   110,000,000 163,000,000 93,000,000            
Percentage depletion   (263,000,000) (283,000,000) (263,000,000)            
Withholding and other impacts on foreign earnings   (221,000,000) [4] 170,000,000 174,000,000            
Valuation allowance on minimum tax credits   (9,000,000) (47,000,000) 18,000,000            
State income taxes   17,000,000 0 17,000,000            
Other items, net   (44,000,000) (2,000,000) (35,000,000)            
Provision for income taxes   1,510,000,000 3,087,000,000 2,983,000,000            
Effective income tax rate, reconciliation [Abstract]                    
U.S. federal statutory tax rate   35.00% 35.00% 35.00%            
Foreign tax credit limitation   2.00% 2.00% 1.00%            
Percentage depletion   (5.00%) (3.00%) (3.00%)            
Withholding taxes   (4.00%) 2.00% 2.00%            
Valuation allowance on minimum tax credits   0.00% (1.00%) 0.00%            
State income taxes   0.00% 0.00% 0.00%            
Other items, net   0.00% 0.00% 0.00%            
Provision for income taxes   28.00% 35.00% 35.00%            
Total income taxes paid to all jurisdictions   1,800,000,000 3,400,000,000 2,600,000,000            
Tax refunds received from all jurisdictions   69,000,000 15,000,000 26,000,000            
Deferred tax assets:                    
Foreign tax credits   2,022,000,000 2,011,000,000              
Minimum tax credits   474,000,000 406,000,000              
Net operating loss carryforwards   343,000,000 356,000,000              
Accrued expenses   910,000,000 962,000,000              
Employee benefit plans   315,000,000 245,000,000              
Inventory   118,000,000 161,000,000              
Other   256,000,000 276,000,000              
Deferred tax assets   4,438,000,000 4,417,000,000              
Valuation allowances   (2,443,000,000) (2,393,000,000)              
Net deferred tax assets   1,995,000,000 2,024,000,000              
Deferred tax liabilities:                    
Property, plant, equipment and development costs   (4,563,000,000) (4,227,000,000)              
Undistributed earnings   (884,000,000) (1,010,000,000)              
Other   (60,000,000) (72,000,000)              
Total deferred tax liabilities   (5,507,000,000) (5,309,000,000)              
Net deferred tax liabilities   (3,512,000,000) (3,285,000,000)              
Amount of valuation allowance, that if recognized, would be recorded directly to other comprehensive   82,000,000                
Valuation allowance on deferred tax asset increase (decrease) during period   $ 50,000,000                
[1] In July 2012, Sociedad Minera Cerro Verde S.A.A. (Cerro Verde) signed a new 15-year mining stability agreement with the Peruvian government, which is expected to become effective when the current mining stability agreement expires on December 31, 2013. In connection with the new mining stability agreement, Cerro Verde's income tax rate will increase from 30 percent to 32 percent. As a result of the change in the income tax rate, FCX recognized additional deferred tax expense of $29 million ($25 million net of noncontrolling interests) in 2012, which relates primarily to the assets recorded in connection with the 2007 acquisition of FMC.
[2] With the exception of TFM, FCX has not elected to permanently reinvest earnings from its foreign subsidiaries and has recorded deferred tax liabilities for foreign earnings that are available to be repatriated to the U.S. Cerro Verde previously recorded deferred Peruvian income tax liabilities for income taxes that would become payable if the reinvested profits used to fund the initial Cerro Verde sulfide expansion are distributed prior to the expiration of Cerro Verde's current stability agreement on December 31, 2013. Because reinvested profits at Cerro Verde are not expected to be distributed prior to December 31, 2013, a net deferred income tax liability of $234 million ($123 million net of noncontrolling interests) was reversed and recognized as an income tax benefit in 2012.
[3] In September 2011, Peru enacted a new mining tax and royalty regime and also created a special mining burden that companies with stability agreements can elect to pay. Cerro Verde elected to pay this special mining burden during the remaining term of its stability agreement. As a result, Cerro Verde recognized additional current ($14 million) and deferred ($39 million) tax expense totaling $53 million ($49 million net of noncontrolling interests) for the year 2011. The deferred portion of this accrual related primarily to the assets recorded in connection with the 2007 acquisition of FMC.
[4] Included the reversal of Cerro Verde's deferred income tax liability of $234 million.