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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
Share data in Millions, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Income Statement [Abstract]      
Revenues $ 21,438,000,000us-gaap_SalesRevenueNet [1],[2] $ 20,921,000,000us-gaap_SalesRevenueNet [2],[3] $ 18,010,000,000us-gaap_SalesRevenueNet [2]
Cost of sales:      
Production and delivery 11,904,000,000fcx_ProductionAndDelivery 11,840,000,000fcx_ProductionAndDelivery 10,382,000,000fcx_ProductionAndDelivery
Depreciation, depletion and amortization 3,863,000,000us-gaap_CostOfGoodsSoldDepreciationDepletionAndAmortization 2,797,000,000us-gaap_CostOfGoodsSoldDepreciationDepletionAndAmortization 1,179,000,000us-gaap_CostOfGoodsSoldDepreciationDepletionAndAmortization
Impairment of oil and gas properties 3,737,000,000us-gaap_ImpairmentOfOilAndGasProperties 0us-gaap_ImpairmentOfOilAndGasProperties 0us-gaap_ImpairmentOfOilAndGasProperties
Total cost of sales 19,504,000,000us-gaap_CostOfGoodsSold 14,637,000,000us-gaap_CostOfGoodsSold 11,561,000,000us-gaap_CostOfGoodsSold
Selling, general and administrative expenses 592,000,000us-gaap_SellingGeneralAndAdministrativeExpense 657,000,000us-gaap_SellingGeneralAndAdministrativeExpense 431,000,000us-gaap_SellingGeneralAndAdministrativeExpense
Mining exploration and research expenses 126,000,000fcx_ExplorationAndResearchExpenses 210,000,000fcx_ExplorationAndResearchExpenses 285,000,000fcx_ExplorationAndResearchExpenses
Environmental obligations and shutdown costs 119,000,000fcx_EnvironmentalObligationsAndShutdownCosts 66,000,000fcx_EnvironmentalObligationsAndShutdownCosts (22,000,000)fcx_EnvironmentalObligationsAndShutdownCosts
Goodwill impairment 1,717,000,000us-gaap_GoodwillImpairmentLoss 0us-gaap_GoodwillImpairmentLoss 0us-gaap_GoodwillImpairmentLoss
Net gain on sales of assets 717,000,000us-gaap_GainLossOnDispositionOfAssets1 0us-gaap_GainLossOnDispositionOfAssets1 0us-gaap_GainLossOnDispositionOfAssets1
Gain on insurance settlement 0us-gaap_InsuranceRecoveries 0us-gaap_InsuranceRecoveries (59,000,000)us-gaap_InsuranceRecoveries
Total costs and expenses 21,341,000,000us-gaap_CostsAndExpenses 15,570,000,000us-gaap_CostsAndExpenses 12,196,000,000us-gaap_CostsAndExpenses
Operating income 97,000,000us-gaap_OperatingIncomeLoss [4],[5] 5,351,000,000us-gaap_OperatingIncomeLoss [6],[7] 5,814,000,000us-gaap_OperatingIncomeLoss
Interest expense, net (630,000,000)fcx_InterestExpenseIncludingAccretion (518,000,000)fcx_InterestExpenseIncludingAccretion (186,000,000)fcx_InterestExpenseIncludingAccretion
Net gain (loss) on early extinguishment of debt 73,000,000us-gaap_GainsLossesOnExtinguishmentOfDebt (35,000,000)us-gaap_GainsLossesOnExtinguishmentOfDebt (168,000,000)us-gaap_GainsLossesOnExtinguishmentOfDebt
Gain on investment in McMoRan Exploration Co. (MMR) 0us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGain 128,000,000us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGain 0us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGain
Other income (expense), net 36,000,000us-gaap_OtherNonoperatingIncomeExpense (13,000,000)us-gaap_OtherNonoperatingIncomeExpense 27,000,000us-gaap_OtherNonoperatingIncomeExpense
(Loss) income before income taxes and equity in affiliated companies' net earnings (424,000,000)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 4,913,000,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 5,487,000,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
Provision for income taxes (324,000,000)us-gaap_IncomeTaxExpenseBenefit [8],[9] (1,475,000,000)us-gaap_IncomeTaxExpenseBenefit [10] (1,510,000,000)us-gaap_IncomeTaxExpenseBenefit [11]
Equity in affiliated companies’ net earnings 3,000,000us-gaap_IncomeLossFromEquityMethodInvestments 3,000,000us-gaap_IncomeLossFromEquityMethodInvestments 3,000,000us-gaap_IncomeLossFromEquityMethodInvestments
Net (loss) income (745,000,000)us-gaap_ProfitLoss [12],[13] 3,441,000,000us-gaap_ProfitLoss [14] 3,980,000,000us-gaap_ProfitLoss
Net income attributable to noncontrolling interests 523,000,000us-gaap_NetIncomeLossAttributableToNoncontrollingInterest 761,000,000us-gaap_NetIncomeLossAttributableToNoncontrollingInterest 939,000,000us-gaap_NetIncomeLossAttributableToNoncontrollingInterest
Preferred dividends attributable to redeemable noncontrolling interest (40,000,000)us-gaap_PreferredStockDividendsIncomeStatementImpact (22,000,000)us-gaap_PreferredStockDividendsIncomeStatementImpact 0us-gaap_PreferredStockDividendsIncomeStatementImpact
Net (loss) income attributable to FCX common stockholders $ (1,308,000,000)us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic [1],[12],[13],[4],[5] $ 2,658,000,000us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic [14],[15],[16],[3],[6],[7] $ 3,041,000,000us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic
Net (loss) income per share attributable to FCX common stockholders:      
Basic (in dollars per share) $ (1.26)us-gaap_EarningsPerShareBasic $ 2.65us-gaap_EarningsPerShareBasic $ 3.20us-gaap_EarningsPerShareBasic
Diluted (in dollars per share) $ (1.26)us-gaap_EarningsPerShareDiluted [1],[12],[13],[4],[5] $ 2.64us-gaap_EarningsPerShareDiluted [14],[15],[16],[3],[6],[7] $ 3.19us-gaap_EarningsPerShareDiluted
Weighted-average common shares outstanding:      
Basic (in shares) 1,039us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 1,002us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 949us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Diluted (in shares) 1,039us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 1,006us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 954us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding
Dividends declared per share of common stock (in dollars per share) $ 1.25us-gaap_CommonStockDividendsPerShareDeclared $ 2.25us-gaap_CommonStockDividendsPerShareDeclared $ 1.25us-gaap_CommonStockDividendsPerShareDeclared
[1] Includes credits (charges) of $15 million ($9 million to net income attributable to common stockholders or $0.01 per share) in the first quarter, $(7) million ($(4) million to net income attributable to common stockholders) in the second quarter, $122 million ($76 million to net income attributable to common stockholders or $0.07 per share) in the third quarter, $497 million ($309 million to net loss attributable to common stockholders or $0.30 per share) in the fourth quarter and $627 million ($389 million to net loss attributable to common stockholders or $0.37 per share) for the year for net unrealized and noncash realized gains (losses) on crude oil and natural gas derivative contracts.
[2] Revenues are attributed to countries based on the location of the customer.
[3] Includes charges of $36 million ($23 million to net income attributable to common stockholders or $0.02 per share) in the second quarter, $158 million ($98 million to net income attributable to common stockholders or $0.09 per share) in the third quarter, $118 million ($73 million to net income attributable to common stockholders or $0.07 per share) in the fourth quarter and $312 million ($194 million to net income attributable to common stockholders or $0.19 per share) for the year (reflecting the seven-month period from June 1, 2013, to December 31, 2013) for unrealized and noncash realized losses on crude oil and natural gas derivative contracts.
[4] Includes net gains of $46 million ($31 million to net income attributable to common stockholders or $0.03 per share) in third quarter, $671 million ($450 million to net loss attributable to common stockholders or $0.43 per share) in the fourth quarter and $717 million ($481 million to net loss attributable to common stockholders or $0.46 per share) for the year primarily from the sale of the Candelaria and Ojos del Salado copper mining operations in the fourth quarter (refer to Note 2 for further discussion) and the sale of a metals injection molding plant in the third quarter.
[5] Includes a charge of $308 million ($192 million to net income attributable to common stockholders or $0.18 per share) in the third quarter, $3.4 billion ($2.1 billion to net loss attributable to common stockholders or $2.05 per share) in the fourth quarter and $3.7 billion ($2.3 billion to net loss attributable to common stockholders or $2.24 per share) for the year to reduce the carrying value of oil and gas properties pursuant to full cost accounting rules. Additionally, the fourth quarter and the year includes a goodwill impairment charge of $1.7 billion ($1.65 per share) for the full carrying value of goodwill.
[6] Includes charges of $14 million ($10 million to net income attributable to common stockholders or $0.01 per share) in the first quarter, $61 million ($36 million to net income attributable to common stockholders or $0.04 per share) in the second quarter, $1 million ($1 million to net income attributable to common stockholders) in the third quarter, $4 million ($3 million to net income attributable to common stockholders) in the fourth quarter and $80 million ($50 million to net income attributable to common stockholders or $0.05 per share) for the year for transaction and related costs principally associated with the acquisitions of PXP and MMR.
[7] Includes charges in the fourth quarter and for the year of (i) $76 million ($49 million to net income attributable to common stockholders or $0.05 per share) associated with updated mine plans at Morenci that resulted in a loss in recoverable copper in leach stockpiles, (ii) $37 million ($23 million to net income attributable to common stockholders or $0.02 per share) associated with the restructuring of an executive employment arrangement and (iii) $36 million ($13 million to net income attributable to common stockholders or $0.01 per share) associated with a new labor agreement at Cerro Verde.
[8] Includes charges related to changes in Chilean and Peruvian tax rules of $54 million and $24 million, respectively.
[9] Includes a net charge of $221 million related to the sale of Candelaria/Ojos.
[10] Includes a net tax benefit of $199 million as a result of the oil and gas acquisitions.
[11] Includes the reversal of Cerro Verde's deferred income tax liability of $234 million.
[12] Includes a tax charge of $57 million ($0.06 per share) in the second quarter, $5 million in the third quarter, $22 million ($0.02 per share) in the fourth quarter and $84 million ($0.08 per share) for the year associated with deferred taxes recorded in connection with the allocation of goodwill to the sale of the Eagle Ford properties. Additionally, includes a net tax charge (benefit) of $54 million ($7 million attributable to noncontrolling interests and $47 million to net income attributable to common stockholders or $0.04 per share) in the third quarter, $(17) million ($11 million attributable to noncontrolling interests and $(28) million to net loss attributable to common stockholders or $(0.03) per share) in the fourth quarter and $37 million ($18 million attributable to noncontrolling interests and $19 million to net loss attributable to common stockholders or $0.02 per share) for the year associated with changes in Chilean tax rules, U.S. federal income tax regulations and Peruvian tax rules, partially offset by a tax benefit related to changes in U.S. state income tax filing positions.
[13] Includes net gains (losses) on early extinguishment of debt totaling $4 million in the second quarter, $17 million ($0.02 per share) in the third quarter, $(18) million ($(0.02) per share) in the fourth quarter and $3 million for the year. Refer to Note 8 for further discussion.
[14] Includes a net tax benefit of $183 million ($0.19 per share) in the second quarter, $16 million ($0.01 per share) in the fourth quarter and $199 million ($0.20 per share) for the year associated with net reductions in FCX's deferred tax liabilities and deferred tax asset valuation allowances related to the acquisitions of PXP and MMR.
[15] Includes net (losses) gains on early extinguishment of debt totaling $(40) million ($(0.04) per share) in the first quarter, $5 million ($0.01 per share) in the second quarter for an adjustment related to taxes on the first quarter losses, $7 million ($0.01 per share) in the fourth quarter and $(28) million ($(0.03) per share) for the year. Refer to Note 8 for further discussion.
[16] Includes a gain of $128 million ($0.13 per share) in the second quarter and for the year related to FCX's preferred stock investment in and the subsequent acquisition of MMR. Refer to Note 2 for further discussion.