Freeport-McMoRan 2004 Annual Report Download - page 82

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Notes To Consolidated Financial Statements
Note 14. Quarterly Financial Information
(Unaudited)
฀ ฀฀ ฀฀ Net฀Income฀(Loss)฀ Net฀Income฀฀
฀ ฀฀ Operating฀฀ Applicable฀to฀ (Loss)฀Per฀Share฀฀
฀ Revenues฀฀ Income฀฀ Common฀Stock฀ Basic฀฀ Diluted
(In฀Thousands,฀Except฀Per฀Share฀Amounts)
2004
1st฀Quarter฀ $฀ 360,185฀ $฀ 41,376฀ $฀(19,551)a฀ $฀(0.10)a฀ $฀(0.10)a
2nd฀Quarter฀ ฀ 486,334฀ ฀ 46,702฀ ฀(53,311)฀ ฀(0.30)฀ ฀(0.30)
3rd฀Quarter฀ ฀ 600,556฀ ฀148,636฀ ฀ 17,133฀ ฀ 0.10฀ ฀0.10
4th฀Quarter฀ ฀ 924,791฀ ฀466,862b฀ ฀212,505c฀ ฀฀1.19c฀ ฀1.08c
฀ ฀ ฀฀ ฀฀ ฀ ฀ $฀2,371,866฀ $฀703,576฀ $฀156,776a฀ ฀0.86a฀ ฀ 0.85a
2003
1st฀Quarter฀฀ $฀ 524,596฀ $฀191,326฀ $฀ 49,245d฀ $฀0.34d฀ $฀0.33d
2nd฀Quarter฀ ฀ 609,455฀ ฀241,226฀ ฀ 57,372e฀ ฀ 0.39e฀ ฀ 0.37e
3rd฀Quarter฀ ฀ 631,990฀ ฀286,278฀ ฀ 47,366e,f฀ ฀฀0.30e,f฀ ฀0.29e,f
4th฀Quarter฀ ฀ 446,124฀ ฀104,478฀ ฀ 236e฀ ฀ —e฀ ฀ —e
฀ ฀ ฀฀ ฀฀ ฀ ฀ $฀2,212,165฀ $฀823,308฀ $฀154,219฀ ฀0.99฀ ฀0.97
a.฀ Includes฀losses฀on฀early฀extinguishment฀and฀conversion฀of฀debt฀totaling฀$14.4฀million฀($0.07฀per฀share)฀in฀the฀first฀quarter฀and฀$13.8฀million฀($0.08฀per฀basic฀share฀and฀
$0.07฀per฀diluted฀share)฀for฀the฀year,฀both฀partly฀offset฀by฀a฀$6.3฀million฀($0.03฀per฀share)฀gain฀on฀reduction฀of฀interest฀expense฀for฀conversion฀of฀debt.
b.฀ Includes฀a฀$95.0฀million฀gain฀from฀insurance฀proceeds฀related฀to฀the฀fourth-quarter฀2003฀slippage฀and฀debris฀flow฀events฀at฀the฀Grasberg฀open฀pit฀and฀a฀$12.0฀million฀charge฀
related฀to฀Atlantic฀Copper’s฀workforce฀reduction฀plan.
c.฀ Includes฀a฀$48.8฀million฀($0.27฀per฀basic฀share฀and฀$0.22฀per฀diluted฀share)฀gain฀from฀insurance฀proceeds฀discussed฀in฀note฀b.,฀a฀$20.4฀million฀($0.11฀per฀basic฀share฀and฀
$0.09฀per฀diluted฀share)฀gain฀from฀the฀sale฀of฀a฀parcel฀of฀land฀in฀Arizona฀held฀by฀an฀FCX฀joint฀venture,฀a฀$7.5฀million฀($0.04฀per฀basic฀share฀and฀$0.03฀per฀diluted฀share)฀gain฀
from฀Atlantic฀Copper’s฀sale฀of฀its฀wire฀rod฀and฀wire฀assets฀and฀a฀$12.0฀million฀($0.07฀per฀basic฀share฀and฀$0.05฀per฀diluted฀share)฀charge฀related฀to฀Atlantic฀Copper’s฀work-
force฀reduction฀plan.
d.฀ Includes฀a฀$9.1฀million฀($0.06฀per฀share)฀gain฀for฀the฀cumulative฀effect฀of฀an฀accounting฀change฀associated฀with฀the฀adoption฀of฀SFAS฀No.฀143฀effective฀January฀1,฀2003฀
(see฀Note฀1).
e.฀ Includes฀losses฀on฀early฀extinguishment฀and฀conversion฀of฀debt฀totaling฀$4.8฀million฀($0.03฀per฀basic฀share฀and฀$0.02฀per฀diluted฀share)฀in฀the฀second฀quarter,฀$25.1฀million฀
($0.16฀per฀basic฀share฀and฀$0.13฀per฀diluted฀share)฀in฀the฀third฀quarter฀and฀$2.0฀million฀($0.01฀per฀share)฀in฀the฀fourth฀quarter.
f.฀ Includes฀a฀$24.7฀million฀($0.15฀per฀basic฀share฀and฀$0.13฀per฀diluted฀share)฀charge฀for฀the฀cumulative฀effect฀of฀an฀accounting฀change฀associated฀with฀the฀adoption฀of฀SFAS฀
No.฀150฀effective฀July฀1,฀2003฀(see฀Note฀1).
80฀| FREEPORT-McMoRan COPPER & GOLD INC.