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Consolidated Statements of Income (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2011
Sep. 30, 2011
Dec. 31, 2010
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Operating revenues, net of discounts, returns and allowances            
Sales of ores and metals $ 13,015 $ 14,783 $ 13,021 $ 53,200 $ 39,422 $ 19,502
Aluminum products     691 383 2,554 2,050
Revenues from logistic services 420 503 334 1,726 1,465 1,104
Fertilizer products 856 1,037 768 3,547 1,845 413
Others 464 418 393 1,533 1,195 870
Revenues before taxes 14,755 16,741 15,207 60,389 46,481 23,939
Taxes on revenues (328) (380) (278) (1,399) (1,188) (628)
Net operating revenues 14,427 16,361 14,929 58,990 45,293 23,311
Operating costs and expenses            
Cost of ores and metals sold (4,699) (4,737) (4,258) (17,898) (13,326) (9,853)
Cost of aluminum products     (565) (289) (2,108) (2,087)
Cost of logistic services (346) (391) (285) (1,402) (1,040) (779)
Cost of fertilizer products (592) (788) (674) (2,701) (1,556) (173)
Others (388) (335) (258) (1,283) (784) (729)
Total costs (6,025) (6,251) (6,040) (23,573) (18,814) (13,621)
Selling, general and administrative expenses (827) (654) (647) (2,334) (1,701) (1,130)
Research and development expenses (529) (440) (301) (1,674) (878) (981)
Gain on sale of assets       1,513    
Others (1,023) (643) (774) (2,810) (2,205) (1,522)
Total costs and expenses (8,404) (7,988) (7,762) (28,878) (23,598) (17,254)
Operating income 6,023 8,373 7,167 30,112 21,695 6,057
Non-operating income (expenses)            
Financial income 139 188 117 718 290 381
Financial expenses (547) (822) (926) (2,465) (2,646) (1,558)
Gains (losses) on derivatives, net 46 (568) 473 75 631 1,528
Foreign exchange and indexation gains (losses), net (108) (2,191) 51 (1,641) 344 675
Gain (loss) on sale of investments       1,513   40
Total non-operating income (expenses) (470) (3,393) (285) (3,313) (1,381) 1,026
Income before discontinued operations, income taxes and equity results 5,553 4,980 6,882 26,799 20,314 7,123
Income taxes            
Current (1,038) (1,197) (1,549) (5,547) (4,996) (2,084)
Deferred (109) 846 412 265 1,291 (16)
Income taxes per consolidated statements of income (1,147) (351) (1,137) (5,282) (3,705) (2,100)
Equity in results of affiliates, joint ventures and other investments 167 282 303 1,135 987 433
Net income from continuing operations 4,573 4,911 6,048 22,652 17,596 5,456
Discontinued operations, net of tax         (143)  
Net income 4,573 4,911 6,048 22,652 17,453 5,456
Net income (loss) attributable to noncontrolling interests (99) (24) 131 (233) 189 107
Net income attributable to the Company's stockholders $ 4,672 $ 4,935 $ 5,917 $ 22,885 $ 17,264 $ 5,349
Earnings per share attributable to Company's stockholders:            
Earnings per preferred share (in dollars per share) $ 0.89 $ 0.93 $ 1.12 $ 4.33 $ 3.23 $ 0.97
Earnings per common share (in dollars per share) $ 0.89 $ 0.93 $ 1.12 $ 4.33 $ 3.23 $ 0.97
Earnings per convertible note linked to preferred share (in dollars per share) $ 1.21 $ 1.78 $ 1.61 $ 6.39 $ 4.76 $ 1.71
Earnings per convertible note linked to common share (in dollars per share) $ 2.82 $ 1.79 $ 1.68 $ 8.15 $ 6.52 $ 2.21