BUSINESS SEGMENTS (Tables)

12 Months Ended

Dec. 31, 2015

FCX revenues attributable to the products it produced for the years ended December 31 follow:



	2015		2014		2013
Refined copper products	$	7,790	$	9,451	$	9,178
Copper in concentrate^a	2,869		3,366		5,328
Gold	1,538		1,584		1,656
Molybdenum	783		1,207		1,110
Oil	1,694		4,233		2,310
Other	1,203		1,597		1,339
Total	$	15,877	$	21,438	$	20,921


a.	Amounts are net of treatment and refining charges totaling $485 million in 2015, $374 million in 2014 and $400 million in 2013.

Long-lived assets by geographic area

Information concerning financial data by geographic area follows:



	December 31,
	2015			2014			2013
Long-lived assets:^a
U.S.	$	16,569	^b	$	29,468		$	32,969
Indonesia	7,701			6,961			5,799
Peru	8,432			6,848			5,181
DRC	4,196			4,071			3,994
Chile	1,387			1,542		^c	2,699
Other	510			522			562
Total	$	38,795		$	49,412		$	51,204


a.	Long-lived assets exclude deferred tax assets, intangible assets and goodwill.


b.	Decreased from 2014 primarily because of impairment charges related to oil and gas properties (refer to Note 1 for further discussion).


c.	Decreased from 2013 primarily because of the sale of the Candelaria and Ojos del Salado mines.

Revenues by geographic area of customer



	Years Ended December 31,
	2015		2014		2013
Revenues:^a
U.S.	$	6,842	$	10,311	$	9,331
Japan	1,246		1,573		2,125
Indonesia	1,054		1,792		1,651
Switzerland	1,026		973		1,307
Spain	960		1,020		1,056
China	760		892		1,048
India	532		292		431
Singapore	432		562		119
Chile	397		687		754
Turkey	345		484		334
Egypt	272		365		296
Korea	207		241		198
Other	1,804		2,246		2,271
Total	$	15,877	$	21,438	$	20,921


a.	Revenues are attributed to countries based on the location of the customer.

Schedule of Segment Reporting Information By Segment

Financial Information by Business Segment



	Mining Operations
	North America Copper Mines								South America								Indonesia		Africa
																										Atlantic			Other											Corporate,
																					Molyb-					Copper			Mining							U.S.				Other
			Other						Cerro		Other										denum			Rod &		Smelting			& Elimi-				Total			Oil & Gas				& Elimi-				FCX
	Morenci		Mines			Total			Verde		Mines^a				Total		Grasberg		Tenke		Mines			Refining		& Refining			nations				Mining			Operations^b				nations				Total
Year Ended December 31, 2015
Revenues:
Unaffiliated customers	$	558	$	351		$	909		$	1,065	$	808			$	1,873	$	2,617	$	1,270	$	—		$	4,125	$	1,955		$	1,133		^c	$	13,882		$	1,994		^d	$	1			$	15,877
Intersegment	1,646		2,571			4,217			68		(7		)	^e	61		36		114		348			29		15			(4,820		)		—			—				—				—
Production and delivery^f,g	1,523		2,276			3,799			815		623				1,438		1,808		860		312			4,129		1,848			(3,859		)		10,335			1,211				(1		)		11,545
Depreciation, depletion and amortization	217		343			560			219		133				352		293		257		97			9		39			72				1,679			1,804				14				3,497
Impairment of oil and gas properties	—		—			—			—		—				—		—		—		—			—		—			—				—			12,980				164			^h	13,144
Copper and molybdenum inventory adjustments	—		142			142			—		73				73		—		—		11			—		—			112				338			—				—				338
Selling, general and administrative expenses	3		3			6			3		1				4		103		11		—			—		16			20				160			188				221				569
Mining exploration and research expenses	—		7			7			—		—				—		—		—		—			—		—			120				127			—				—				127
Environmental obligations and shutdown costs	—		3			3			—		—				—		—		—		—			—		—			74				77			—				1				78
Net gain on sales of assets	—		(39		)	(39		)	—		—				—		—		—		—			—		—			—				(39		)	—				—				(39		)
Operating income (loss)	461		187			648			96		(29		)		67		449		256		(72		)	16		67			(226		)		1,205			(14,189		)		(398		)		(13,382		)

Interest expense, net	2		2			4			16		—				16		—		—		—			—		10			75				105			186				354				645
Provision for (benefit from) income taxes	—		—			—			13		(9		)		4		195		48		—			—		—			—				247			—				(2,182		)		(1,935		)
Total assets at December 31, 2015	3,567		4,878			8,445			9,445		1,661				11,106		9,402		5,079		1,999			219		612			1,293				38,155			8,141				281				46,577
Capital expenditures	253		102			355			1,674		48				1,722		913		229		13			4		23			47				3,306			2,948			ⁱ	99				6,353

Year Ended December 31, 2014
Revenues:
Unaffiliated customers	$	364	$	336		$	700		$	1,282	$	1,740			$	3,022	$	2,848	$	1,437	$	—		$	4,626	$	2,391		$	1,704		^c	$	16,728		$	4,710		^d	$	—			$	21,438
Intersegment	1,752		3,164			4,916			206		304				510		223		121		587			29		21			(6,407		)		—			—				—				—
Production and delivery	1,287		2,153			3,440			741		1,198				1,939		1,988		770		328			4,633		2,356			(4,795		)		10,659			1,237				2				11,898
Depreciation, depletion and amortization	168		316			484			159		208				367		266		228		92			10		41			70				1,558			2,291				14				3,863
Impairment of oil and gas properties	—		—			—			—		—				—		—		—		—			—		—			—				—			3,737				—				3,737
Copper and molybdenum inventory adjustments	—		—			—			—		—				—		—		—		—			—		—			6				6			—				—				6
Selling, general and administrative expenses	2		3			5			3		3				6		98		12		—			—		17			25				163			207				222				592
Mining exploration and research expenses	—		8			8			—		—				—		—		—		—			—		—			118				126			—				—				126
Environmental obligations and shutdown costs	—		(5		)	(5		)	—		—				—		—		—		—			—		—			123				118			—				1				119
Goodwill impairment	—		—			—			—		—				—		—		—		—			—		—			—				—			1,717				—				1,717
Net gain on sales of assets	—		(14		)	(14		)	—		—				—		—		—		—			—		—			(703		)	^j	(717		)	—				—				(717		)
Operating income (loss)	659		1,039			1,698			585		635				1,220		719		548		167			12		(2		)	453				4,815			(4,479		)		(239		)		97

Interest expense, net	3		1			4			1		—				1		—		—		—			—		13			84				102			241				287				630
Provision for (benefit from) income taxes	—		—			—			265		266				531		293		116		—			—		—			221			^j	1,161			—				(837		)		324
Total assets at December 31, 2014	3,780		5,611			9,391			7,490		1,993				9,483		8,626		5,073		2,095			235		898			1,319				37,120			20,834				720				58,674
Capital expenditures	826		143			969			1,691		94				1,785		948		159		54			4		17			52				3,988			3,205			ⁱ	22				7,215


a.	Includes the results of the Candelaria and Ojos del Salado mines prior to their sale in November 2014.


b.	Includes the results of Eagle Ford prior to its sale in June 2014.


c.	Includes revenues from FCX's molybdenum sales company, which includes sales of molybdenum produced by the Molybdenum mines and by certain of the North and South America copper mines.


d.	Includes net mark-to-market gains associated with crude oil and natural gas derivative contracts totaling $87 million in 2015 and $505 million in 2014.


e.	Reflects net reductions for provisional pricing adjustments to prior period open sales.


f.	Includes impairment, restructuring and other net charges for mining operations totaling $156 million, including $99 million at North America copper mines, $13 million at South America mines, $11 million at Tenke, $7 million at Molybdenum mines, $3 million at Rod & Refining, $20 million at other mining & eliminations and $3 million for restructuring at corporate, other & eliminations.


g.	Includes charges at U.S. Oil & Gas operations totaling $188 million in 2015 primarily for other asset impairments and inventory write-downs, idle/terminated rig costs, and prior year non-income tax assessments at the California properties and $46 million in 2014 primarily for idle/terminated rig costs and inventory write-downs.


h.	Reflects impairment charges for international oil and gas properties primarily related to Morocco.


i.	Excludes international oil and gas capital expenditures totaling $100 million in 2015 and $19 million in 2014, primarily related to the Morocco oil and gas properties, which are included in corporate, other & eliminations.


j.	Includes the gain and related income tax provision associated with the sale of the Candelaria and Ojos del Salado mines.



	Mining Operations
	North America Copper Mines								South America						Indonesia		Africa
																							Atlantic				Other									Corporate,
																			Molyb-				Copper				Mining						U.S.			Other
			Other						Cerro		Other								denum		Rod &		Smelting				& Elimi-				Total		Oil & Gas			& Elimi-				FCX
	Morenci		Mines			Total			Verde		Mines		Total		Grasberg		Tenke		Mines		Refining		& Refining				nations				Mining		Operations			nations				Total
Year Ended December 31, 2013
Revenues:
Unaffiliated customers	$	244	$	326		$	570		$	1,473	$	2,379	$	3,852	$	3,751	$	1,590	$	—	$	4,995	$	2,027			$	1,516		^a	$	18,301	$	2,616	^b	$	4			$	20,921
Intersegment	1,673		2,940			4,613			360		273		633		336		47		522		27		14				(6,192		)		—		—			—				—
Production and delivery	1,233		2,033			3,266			781		1,288		2,069		2,309		754		317		4,990		2,054				(4,611		)		11,148		682			7				11,837
Depreciation, depletion and amortization	133		269			402			152		194		346		247		246		82		9		42				48				1,422		1,364			11				2,797
Copper and molybdenum inventory adjustments	—		—			—			—		—		—		—		—		—		—		—				3				3		—			—				3
Selling, general and administrative expenses	2		3			5			3		4		7		110		12		—		—		20				29				183		120			354				657
Mining exploration and research expenses	—		5			5			—		—		—		1		—		—		—		—				193				199		—			11				210
Environmental obligations and shutdown costs	—		(1		)	(1		)	—		—		—		—		—		—		—		—				67				66		—			—				66
Operating income (loss)	549		957			1,506			897		1,166		2,063		1,420		625		123		23		(75		)	^c	(405		)		5,280		450			(379		)		5,351

Interest expense, net	3		1			4			2		1		3		12		2		—		—		16				80				117		181			220				518
Provision for income taxes	—		—			—			316		404		720		603		131		—		—		—				—				1,454		—			21			^d	1,475
Total assets at December 31, 2013	3,110		5,810			8,920			6,584		3,996		10,580		7,437		4,849		2,107		239		1,039				1,003				36,174		26,252			959				63,385
Capital expenditures	737		329			1,066			960		185		1,145		1,030		205		164		4		67				113				3,794		1,436			56				5,286


a.	Includes revenues from FCX's molybdenum sales company, which included sales of molybdenum produced by the Molybdenum mines and by certain of the North and South America copper mines.


b.	Includes net mark-to-market losses associated with crude oil and natural gas derivative contracts totaling $334 million for the period from June 1, 2013, to December 31, 2013


c.	Includes $50 million for shutdown costs associated with Atlantic Copper's scheduled 68-day maintenance turnaround, which was completed in fourth-quarter 2013.


d.	Includes $199 million of net benefits resulting from oil and gas acquisitions.