BUSINESS SEGMENTS INFORMATION (Tables)

12 Months Ended

Dec. 31, 2021

FCX’s revenues attributable to the products it sold for the years ended December 31 follow:


	2021		2020		2019
Copper:
Concentrate	$	8,705	$	4,294	$	4,566
Cathode	5,900		4,204		3,656
Rod and other refined copper products	3,369		2,052		2,110
Purchased coppera	757		821		1,060
Gold	2,580		1,702		1,620
Molybdenum	1,283		848		1,169
Otherb	821		592		905
Adjustments to revenues:
Treatment charges	(445)		(362)		(404)
Royalty expensec	(330)		(165)		(113)
Export dutiesd	(218)		(92)		(221)
Revenues from contracts with customers	22,422		13,894		14,348
Embedded derivativese	423		304		54
Total consolidated revenues	$	22,845	$	14,198	$	14,402

a.FCX purchases copper cathode primarily for processing by its Rod & Refining operations.

b.Primarily includes revenues associated with silver and cobalt.

c.Reflects royalties on sales from PT-FI and Cerro Verde that will vary with the volume of metal sold and prices.

d.Reflects PT-FI export duties. The year 2019 includes charges totaling $155 million primarily associated with an unfavorable Indonesia Supreme Court ruling related to certain disputed export duties (refer to Note 12).

e.Refer to Note 14 for discussion of embedded derivatives related to FCX’s provisionally priced concentrate and cathode sales contracts.

Long-lived assets by geographic area

Information concerning financial data by geographic area follows:


	December 31,
	2021		2020
Long-lived assets:a
Indonesia	$	16,288	$	15,567
U.S.	8,292		8,420
Peru	6,827		6,989

Chile	1,110		1,172
Other	261		290
Total	$	32,778	$	32,438

a.Excludes deferred tax assets and intangible assets

Revenues by geographic area of customer


	Years Ended December 31,
	2021		2020		2019
Revenues:a
U.S.	$	7,168	$	5,248	$	5,107
Switzerland	3,682		2,032		2,223
Indonesia	3,132		1,760		1,894
Japan	2,372		1,205		1,181
Spain	1,495		785		884
China	1,044		692		531
United Kingdom	659		491		233
Germany	469		248		311
Chile	343		221		242
Korea	270		89		140
Egypt	268		153		123
Philippines	264		34		73
India	207		152		107





Other	1,472		1,088		1,353
Total	$	22,845	$	14,198	$	14,402

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

Schedule of financial information by business segment

Financial Information by Business Segment



	North America Copper Mines				South America Mining
																					Atlantic		Corporate,
																					Copper		Other
							Cerro							Indonesia			Molybdenum		Rod &		Smelting		& Elimi-			FCX
	Morenci		Other		Total		Verde			Other		Total		Mining			Mines		Refining		& Refining		nations			Total
Year Ended December 31, 2021
Revenues:
Unaffiliated customers	$	82	$	180	$	262	$	3,736		$	720	$	4,456	$	7,241		$	—	$	6,356	$	2,961	$	1,569	a	$	22,845
Intersegment	2,728		3,835		6,563		460			—		460		282			444		29		—		(7,778)			—
Production and delivery	1,226		2,235		3,461		2,000		b	429		2,429		2,425		c	253		6,381		2,907		(5,840)		d	12,016
Depreciation, depletion and amortization	152		217		369		366			47		413		1,049			67		5		28		67			1,998

Metals inventory adjustments	13		—		13		—			—		—		—			1		—		—		2			16
Selling, general and administrative expenses	2		2		4		8			—		8		111			—		—		24		236			383
Mining exploration and research expenses	—		1		1		—			—		—		—			—		—		—		54			55
Environmental obligations and shutdown costs	—		(1)		(1)		—			—		—		—			—		—		—		92			91

Net gain on sales of assets	—		—		—		—			—		—		—			—		—		(19)		(61)		e	(80)
Operating income (loss)	1,417		1,561		2,978		1,822			244		2,066		3,938			123		(1)		21		(759)			8,366

Interest expense, net	—		1		1		28			—		28		48			—		—		6		519			602
Provision for (benefit from) income taxes	—		—		—		730			90		820		1,524		f	—		—		—		(45)			2,299
Total assets at December 31, 2021	2,708		5,208		7,916		8,694			1,921		10,615		18,971			1,713		228		1,318		7,261			48,022
Capital expenditures	135		207		342		132			30		162		1,296			6		2		34		273		g	2,115

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

b.Includes nonrecurring charges totaling $92 million associated with labor-related charges at Cerro Verde for agreements reached with its hourly employees.

c.Includes charges totaling $340 million associated with unfavorable ARO change. Refer to Note 12 for further discussion.

d.Includes charges associated with the major maintenance turnaround at the Miami Smelter totaling $87 million.

e.Includes a $60 million gain on the sale of FCX’s remaining cobalt business located in Kokkola, Finland. Refer to Note 2 for further discussion.

f.Includes net tax benefits of $189 million associated with the release of a portion of the valuation allowance recorded against PT Rio Tinto NOLs. Refer to Note 11 for further discussion.

g.Includes capital expenditures for the Indonesia smelter projects of $222 million.