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18฀| FREEPORT-McMoRan COPPER & GOLD INC.
Years฀Ended฀December฀31,฀ 2004฀ 2003฀ 2002฀ 2001฀ 2000
(Financial฀Data฀in฀Dollars,฀Except฀Average฀Shares,฀and฀in฀Thousands,฀Except฀Per฀Share฀Amounts)
FCX CONSOLIDATED FINANCIAL DATA
Revenues฀ ฀ $฀2,371,866฀ $฀2,212,165฀ $฀1,910,462฀ $฀1,838,866฀ $฀1,868,610
Operating฀income฀ ฀ 703,576a฀ ฀ 823,308฀ ฀ 640,137฀ ฀ 542,926฀ ฀ 492,293
Net฀income฀before฀cumulative฀effect฀of฀changes฀in฀
฀ accounting฀principles฀ ฀ 156,776b฀ ฀ 169,812c฀ ฀ 130,099฀ ฀ 76,496฀ ฀ 39,500
Cumulative฀effect฀of฀changes฀in฀accounting฀principles,฀net฀ ฀ —฀ ฀ (15,593)d฀ ฀ (3,049)e฀ ฀ —฀ ฀ —
Net฀income฀applicable฀to฀common฀stock฀ ฀ 156,776b฀ ฀ 154,219c฀ ฀ 127,050฀ ฀ 76,496฀ ฀ 39,500
Pro฀forma฀net฀income,฀assuming฀accounting฀changes฀are฀
฀ applied฀retroactively฀ ฀ 156,776b฀ ฀ 169,307c,d฀ ฀ 129,635฀ ฀ 104,847฀ ฀ 42,610
Basic฀net฀income฀per฀common฀share฀ ฀ 0.86฀ ฀ 0.99฀ ฀ 0.88฀ ฀ 0.53฀ ฀ 0.26
Diluted฀net฀income฀per฀common฀share:฀
฀ Applicable฀to฀common฀stock฀ ฀ 0.85b฀ ฀ 0.97c,d฀ ฀ 0.87฀ ฀ 0.53฀ ฀ 0.26
฀ Pro฀forma,฀assuming฀accounting฀changes฀are฀applied฀retroactively฀ ฀ 0.85b฀ ฀ 1.06c,d฀ ฀ 0.89฀ ฀ 0.72฀ ฀ 0.28
Dividends฀paid฀per฀common฀share฀฀฀ ฀ 1.10฀ ฀ 0.27฀ ฀ —฀ ฀ —฀ ฀ —
Basic฀average฀shares฀outstanding฀ ฀ 182,272฀ ฀ 155,805฀ ฀ 144,649฀ ฀ 143,952฀ ฀ 153,997
Diluted฀average฀shares฀outstanding฀ ฀ 184,923฀ ฀ 159,102฀ ฀ 146,418฀ ฀ 144,938฀ ฀ 154,519
At฀December฀31:฀ ฀
Cash฀and฀restricted฀cash฀and฀investments฀ ฀ 551,950฀ ฀ 498,616฀ ฀ 115,782฀ ฀ 149,475฀ ฀ 7,968
Property,฀plant,฀equipment฀and฀development฀costs,฀net฀ ฀3,199,292฀ ฀3,261,697฀ ฀3,320,561฀ ฀3,409,687฀ ฀3,230,564
Total฀assets฀ ฀5,086,995฀ ฀4,718,366฀ ฀4,192,193฀ ฀4,211,929฀ ฀3,950,741
Long-term฀debt,฀including฀current฀portion฀and฀short-term฀borrowings฀ ฀1,951,906฀ ฀2,228,330d฀ ฀2,038,390฀ ฀2,338,600฀ ฀2,190,025
Redeemable฀preferred฀stock฀ ฀ —฀ ฀ —d฀ ฀ 450,003฀ ฀ 462,504฀ ฀ 475,005
Stockholders’฀equity฀ ฀1,163,649฀ ฀ 775,984฀ ฀ 266,826฀ ฀ 104,444฀ ฀ 37,931
PT FREEPORT INDONESIA OPERATING DATA, NET OF RIO TINTO’S INTEREST
Copper฀(recoverable)
฀ Production฀(000s฀of฀pounds)฀ ฀ 996,500฀ ฀1,291,600฀ ฀1,524,200฀ ฀1,393,400฀ ฀1,388,100
฀ Production฀(metric฀tons)฀ ฀ 452,000฀ ฀ 585,900฀ ฀ 691,400฀ ฀ 632,000฀ ฀ 629,600
฀ Sales฀(000s฀of฀pounds)฀ ฀ 991,600฀ ฀1,295,600฀ ฀1,522,300฀ ฀1,399,100฀ ฀1,393,700
฀ Sales฀(metric฀tons)฀ ฀ 449,800฀ ฀ 587,700฀ ฀ 690,500฀ ฀ 634,600฀ ฀ 632,200
฀ Average฀realized฀price฀per฀pound฀ $฀ 1.37฀ $฀ 0.82฀ $฀ 0.71฀ $฀ 0.69฀ $฀ 0.82
Gold฀(recoverable฀ounces)
฀ Production฀ ฀1,456,200฀ ฀2,463,300฀ ฀2,296,800฀ ฀2,634,900฀ ฀1,899,500
฀ Sales฀฀ ฀ ฀1,443,000฀ ฀2,469,800฀ ฀2,293,200฀ ฀2,644,800฀ ฀1,921,400
฀ Average฀realized฀price฀per฀ounce฀ $฀ 412.32฀ $฀ 366.60f฀ $฀ 311.97฀ $฀ 269.24฀ $฀ 276.06
Silver฀(recoverable฀ounces)฀ ฀
฀ Production฀ ฀3,270,700฀ ฀4,112,700฀ ฀4,121,100฀ ฀3,771,500฀ ฀3,542,400
฀ Sales฀฀ ฀ ฀3,257,800฀ ฀4,126,700฀ ฀4,116,100฀ ฀3,782,600฀ ฀3,542,300
฀ Average฀realized฀price฀per฀ounce฀ $฀ 6.10฀ $฀ 5.15฀ $฀ 4.66฀ $฀ 4.80฀ $฀ 4.98
ATLANTIC COPPER OPERATING DATA
Concentrate฀and฀scrap฀treated฀(metric฀tons)฀ ฀ 768,100฀ ฀ 964,400฀ ฀1,016,700฀ ฀ 891,100฀ ฀ 916,300
Anodes
฀ Production฀(000s฀of฀pounds)฀ ฀ 494,400฀ ฀ 640,000฀ ฀ 657,000฀ ฀ 617,300฀ ฀ 639,100
฀ Production฀(metric฀tons)฀ ฀ 224,300฀ ฀ 290,300฀ ฀ 298,000฀ ฀ 280,000฀ ฀ 289,900
฀ Sales฀(000s฀of฀pounds)฀ ฀ 36,700฀ ฀ 97,000฀ ฀ 101,200฀ ฀ 87,500฀ ฀ 80,600
฀ Sales฀(metric฀tons)฀ ฀ 16,600฀ ฀ 44,000฀ ฀ 45,900฀ ฀ 39,700฀ ฀ 36,600
Cathodes฀ ฀
฀ Production฀(000s฀of฀pounds)฀ ฀ 454,700฀ ฀ 544,700฀ ฀ 552,200฀ ฀ 518,700฀ ฀ 567,900
฀ Production฀(metric฀tons)฀ ฀ 206,200฀ ฀ 247,100฀ ฀ 250,500฀ ฀ 235,300฀ ฀ 257,600
฀ Sales฀(including฀wire฀rod฀and฀wire)฀ ฀
฀ ฀ (000s฀of฀pounds)฀ ฀ 479,200฀ ฀ 546,800฀ ฀ 556,500฀ ฀ 549,800฀ ฀ 562,300
฀ ฀ (metric฀tons)฀ ฀ 217,400฀ ฀ 248,000฀ ฀ 252,400฀ ฀ 249,400฀ ฀ 255,100
Gold฀sales฀in฀anodes฀and฀slimes฀(ounces)฀ ฀ 316,700฀ ฀ 929,700฀ ฀ 813,900฀ ฀ 831,300฀ ฀ 605,700
Cathode฀cash฀production฀cost฀per฀pound฀before฀hedgingg฀ $฀ 0.25฀ $฀ 0.16฀ $฀ 0.12฀ $฀ 0.14฀ $฀ 0.11
Selected Financial and Operating Data