Freeport-McMoRan 2011 Annual Report Download - page 24

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22 | FREEPORT-McMoRan COPPER & GOLD INC.
Years Ended December 31, 2011 2010 2009 2008 2007
a
(In Millions, Except Per Share Amounts)
FCX CONSOLIDATED FINANCIAL DATA
Revenues $ 20,880 $ 18,982 $ 15,040 $ 17,796 $ 16,939
b
Operating income (loss) 9,140
c
9,068 6,503
d,e
(12,710)
d,e,f
6,555
b,f
Income (loss) from continuing operations 5,747 5,544 3,534 (10,450) 3,733
Net income (loss) 5,747 5,544 3,534 (10,450) 3,779
Net income (loss) attributable to FCX common stockholders 4,560
c,g,h
4,273
h
2,527
d,e,h
(11,341)
d,e,f,h
2,769
b,f,h
Basic net income (loss) per share attributable to FCX common stockholders:
Continuing operations $ 4.81 $ 4.67 $ 3.05 $ (14.86) $ 4.01
Discontinued operations — — — — 0.05
Basic net income (loss) $ 4.81 $ 4.67 $ 3.05 $ (14.86) $ 4.06
Basic weighted-average common shares outstanding 947 915 829 763 682
Diluted net income (loss) per share attributable to FCX common stockholders:
Continuing operations $ 4.78 $ 4.57 $ 2.93 $ (14.86) $ 3.70
Discontinued operations — — — — 0.05
Diluted net income (loss) $ 4.78
c,g,h
$ 4.57
h
$ 2.93
d,e,h
$ (14.86)
d,e,f,h
$ 3.75
b,f,h
Diluted weighted-average common shares outstanding 955 949 938 763 794
Dividends declared per share of common stock $ 1.50 $ 1.125 $ 0.075 $ 0.6875 $ 0.6875
At December 31:
Cash and cash equivalents $ 4,822 $ 3,738 $ 2,656 $ 872 $ 1,626
Property, plant, equipment and development costs, net 18,449 16,785 16,195 16,002 25,715
Goodwill — — — — 6,105
Total assets 32,070 29,386 25,996 23,353 40,661
Total debt, including current portion 3,537 4,755 6,346 7,351 7,211
Total FCX stockholders’ equity 15,642 12,504 9,119 5,773 18,234
The selected consolidated financial data shown above is derived from our audited consolidated financial statements. These historical results are not
necessarily indicative of results that you can expect for any future period. You should read this data in conjunction with Management’s Discussion and Analysis
of Financial Condition and Results of Operations and our Consolidated Financial Statements and Notes thereto contained in this annual report.
a. Includes the results of Freeport-McMoRan Corporation (FMC, formerly Phelps Dodge Corporation) beginning March 20, 2007.
b. Includes charges totaling $175 million ($106 million to net income attributable to common stockholders or $0.13 per share) for mark-to-market accounting adjustments on the 2007
copper price protection program assumed in the acquisition of FMC.
c. Includes charges totaling $116 million ($50 million to net income attributable to common stock or $0.05 per share) primarily associated with bonuses for new labor agreements and other
employee costs at PT Freeport Indonesia, Cerro Verde and El Abra.
d. Includes charges totaling $23 million ($18 million to net income attributable to common stockholders or $0.02 per share) associated with restructuring charges in 2009 and $17.0 billion
($12.7 billion to net loss attributable to common stockholders or $16.60 per share) associated with impairment and restructuring charges in 2008.
e. Includes charges for lower of cost or market inventory adjustments totaling $19 million ($15 million to net income attributable to common stockholders or $0.02 per share) in 2009 and
$782 million ($479 million to net loss attributable to common stockholders or $0.63 per share) in 2008.
f. Includes purchase accounting impacts related to the acquisition of FMC totaling $1.0 billion ($622 million to net loss attributable to common stockholders or $0.82 per share) in
2008 and $1.3 billion ($793 million to net income attributable to common stockholders or $1.00 per share) in 2007.
g. Includes additional taxes of $49 million ($0.05 per share) associated with Peru’s new mining tax and royalty regime.
h. Includes net losses on early extinguishment and conversion of debt totaling $60 million ($0.06 per share) in 2011, $71 million ($0.07 per share) in 2010, $43 million ($0.04 per share) in 2009,
$5 million ($0.01 per share) in 2008 and $132 million ($0.17 per share) in 2007; 2008 also includes charges totaling $22 million ($0.03 per share) associated with privately negotiated
transactions to induce conversion of a portion of our 5½% Convertible Perpetual Preferred Stock into FCX common stock.
SELECTED FINANCIAL AND OPERATING DATA