Freeport-McMoRan 2011 Annual Report Download - page 60

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58 | FREEPORT-McMoRan COPPER & GOLD INC.
Indonesia Mining Product Revenues and Production Costs
By-Product
Co-Product Method
Year Ended December 31, 2011 Method Copper Gold Silver Total
(In millions)
Revenues, excluding adjustments $ 3,261 $ 3,261 $ 2,011 $ 97
a
$ 5,369
Site production and delivery, before net noncash
and other costs shown below 1,869
b
1,135 700 34 1,869
Gold and silver credits (2,090) — — — —
Treatment charges 156 95 58 3 156
Royalty on metals 137 83 52 2 137
Net cash costs 72 1,313 810 39 2,162
Depreciation and amortization 215 131 80 4 215
Noncash and other costs, net 33 20 12 1 33
Total costs 320 1,464 902 44 2,410
Revenue adjustments, primarily for pricing on
prior period open sales (12) (12) (18) — (30)
Gross profit $ 2,929 $ 1,785 $ 1,091 $ 53 $ 2,929
Reconciliation to Amounts Reported
Depreciation,
Production Depletion and
Revenues and Delivery Amortization
Totals presented above $ 5,369 $ 1,869 $ 215
Treatment charges (156) N/A N/A
Royalty on metals (137) N/A N/A
Net noncash and other costs N/A 33 N/A
Revenue adjustments, primarily for pricing on
prior period open sales (30) N/A N/A
Indonesia mining 5,046 1,902 215
North America copper mines 5,633 2,629 279
South America mining 5,258 1,905 258
Africa mining 1,289 591 140
Molybdenum 1,424 1,036 60
Rod & Refining 5,549 5,527 8
Atlantic Copper Smelting & Refining 2,984 2,991 40
Corporate, other & eliminations (6,303) (6,683) 22
As reported in FCX’s consolidated financial statements $ 20,880 $ 9,898 $ 1,022
a. Includes silver sales of 2.7 million ounces ($36.18 per ounce average realized price).
b. Includes $66 million associated with bonuses and other strike-related costs.
MANAGEMENT’S DISCUSSION AND ANALYSIS