Freeport-McMoRan 2013 Annual Report Download - page 28

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SELECTED FINANCIAL AND OPERATING DATA
26 | FREEPORT-McMoRan
Years Ended December 31, 2013
a
2012 2011 2010 2009
FCX CONSOLIDATED FINANCIAL DATA
Revenues $ 20,921
b
$ 18,010 $ 20,880 $ 18,982 $ 15,040
Operating income 5,351
b,c,d,e
5,814
c,d,e
9,140
e
9,068 6,503
Net income 3,441 3,980 5,747 5,544 3,534
Net income attributable to FCX common stockholders 2,658
b,c,d,e,f,g
3,041
c,d,e,f,h
4,560
e,f,h
4,273
f
2,527
f
Basic net income per share attributable to FCX common stockholders $ 2.65 $ 3.20 $ 4.81 $ 4.67 $ 3.05
Basic weighted-average common shares outstanding 1,002 949 947 915 829
Diluted net income per share attributable to FCX common stockholders $ 2.64
b,c,d,e,f,g
$ 3.19
c,d,e,f,h
$ 4.78
e,f,h
$ 4.57
f
$ 2.93
f
Diluted weighted-average common shares outstanding 1,006 954 955 949 938
Dividends declared per share of common stock $ 2.25 $ 1.25 $ 1.50 $ 1.125 $ 0.075
Operating cash flows
i
6,139 3,774 6,620 6,273 4,397
Capital expenditures 5,286 3,494 2,534 1,412 1,587
At December 31:
Cash and cash equivalents $ 1,985 $ 3,705 $ 4,822 $ 3,738 $ 2,656
Property, plant, equipment and mining development costs, net 24,042 20,999 18,449 16,785 16,195
Oil and gas properties, net 23,359 — — — —
Goodwill 1,916 — — — —
Total assets 63,473 35,440 32,070 29,386 25,996
Total debt, including current portion 20,706 3,527 3,537 4,755 6,346
Redeemable noncontrolling interest 716 — — — —
Total FCX stockholders’ equity 20,934 17,543 15,642 12,504 9,119
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 FCX Oil & Gas Inc. (FM O&G) beginning June 1, 2013.
b. Includes charges for net unrealized and noncash realized losses on crude oil and natural gas derivative contracts totaling $312 million ($194 million to net income attributable to common
stockholders or $0.19 per share) for the seven-month period from June 1, 2013, to December 31, 2013.
c. Includes transaction and related costs principally associated with our oil and gas acquisitions totaling $80 million ($50 million to net income attributable to common stockholders or
$0.05 per share) in 2013 and $9 million ($7 million to net income attributable to common stockholders or $0.01 per share) in 2012.
d. The year 2013 includes charges of (i) $76 million ($49 million to net income attributable to common stockholders or $0.05 per share) associated with updated mine plans at Morenci that
resulted in a loss of recoverable copper in leach stockpiles and (ii) $37 million ($23 million to net income attributable to common stockholders or $0.02 per share) for restructuring an
executive employment arrangement. The year 2012 includes a gain of $59 million ($31 million to net income attributable to common stockholders or $0.03 per share) for the settlement of the
insurance claim for business interruption and property damage relating to the 2011 incidents affecting PT Freeport Indonesia’s (PT-FI) concentrate pipelines.
e. Includes charges associated with labor agreements totaling $36 million ($13 million to net income attributable to common stockholders or $0.01 per share) at Cerro Verde in 2013,
$16 million ($8 million to net income attributable to common stockholders or $0.01 per share) at Candelaria in 2012 and $116 million ($50 million to net income attributable to common
stockholders or $0.05 per share) at PT-FI, Cerro Verde and El Abra in 2011.
f. Includes net losses on early extinguishment and conversion of debt totaling $28 million ($0.03 per share) in 2013, $149 million ($0.16 per share) in 2012, $60 million ($0.06 per share) in
2011, $71 million ($0.07 per share) in 2010 and $43 million ($0.04 per share) in 2009.
g. Includes gains associated with our oil and gas acquisitions, including (i) $128 million ($0.13 per share) primarily related to our preferred stock investments in and the subsequent
acquisition of McMoRan Exploration Co., and (ii) a net tax credit of $199 million ($0.20 per share) associated with net reductions in our deferred tax liabilities and deferred tax asset
valuation allowances.
h. Includes a net tax credit of $98 million, net of noncontrolling interests, ($0.11 per share) in 2012 associated with adjustments to Cerro Verde’s deferred income taxes, and a tax charge
of $49 million, net of noncontrolling interests, ($0.05 per share) in 2013 for additional taxes associated with Cerro Verde’s election to pay a special mining burden during the remaining
term of its 1998 stability agreement.
i. Net of working capital uses and changes in other tax payments totaling $377 million in 2013, $1.4 billion in 2012, $461 million in 2011, $834 million in 2010 and $770 million in 2009.