Freeport-McMoRan 2011 Annual Report Download - page 55

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2011 ANNUAL REPORT | 53
North America Copper Mines Product Revenues and Production Costs (continued)
By-Product
Co-Product Method
Year Ended December 31, 2010 Method Copper Molybdenum
a
Other
b
Total
(In millions)
Revenues, excluding adjustments $ 3,702 $ 3,702 $ 383 $ 58 $ 4,143
Site production and delivery, before net noncash
and other costs shown below 1,621 1,456 195 29 1,680
By-product credits
a
(382) — — — —
Treatment charges 105 102 — 3 105
Net cash costs 1,344 1,558 195 32 1,785
Depreciation, depletion and amortization 256 241 13 2 256
Noncash and other costs, net 131 131 — — 131
Total costs 1,731 1,930 208 34 2,172
Revenue adjustments (2) (2) — — (2)
Idle facility and other non-inventoriable costs (87) (86) (1) — (87)
Gross profit $ 1,882 $ 1,684 $ 174 $ 24 $ 1,882
Reconciliation to Amounts Reported
Depreciation,
Production Depletion and
Revenues and Delivery Amortization
Totals presented above $ 4,143 $ 1,680 $ 256
Treatment charges N/A 105 N/A
Net noncash and other costs N/A 131 N/A
Revenue adjustments (2) N/A N/A
Idle facility and other non-inventoriable costs N/A 87 N/A
Eliminations and other 32 49 17
North America copper mines 4,173 2,052 273
South America mining 4,991 1,678 250
Indonesia mining 6,377 1,904 257
Africa mining 1,106 488 128
Molybdenum 1,205 784 51
Rod & Refining 4,470 4,442 8
Atlantic Copper Smelting & Refining 2,491 2,470 38
Corporate, other & eliminations (5,831) (5,483) 31
As reported in FCX’s consolidated financial statements $ 18,982 $ 8,335 $ 1,036
a. Molybdenum credits and revenues reflect volumes produced at market-based pricing and also include tolling revenues at Sierrita.
b. Includes gold and silver product revenues and production costs.
MANAGEMENT’S DISCUSSION AND ANALYSIS