Freeport-McMoRan 2008 Annual Report Download - page 68

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Consolidated Balance Sheets
66 FREEPORT-McMoRan COPPER & GOLD INC. 2008 Annual Report
Years Ended December 31, 2008 2007
(In Millions, Except Par Values)
ASSETS
Current assets:
Cash and cash equivalents $ 872 $ 1,626
Trade accounts receivable 374 1,099
Income tax receivables 611 67
Other accounts receivable 227 129
Inventories:
Product 1,068 1,360
Materials and supplies, net 1,124 818
Mill and leach stockpiles 571 707
Prepaid expenses and other current assets 386 97
Total current assets 5,233 5,903
Property, plant, equipment and development costs, net 16,002 25,715
Goodwill – 6,105
Long-term mill and leach stockpiles 1,145 1,106
Intangible assets, net 364 472
Trust assets 142 606
Other assets 467 754
Total assets $ 23,353 $ 40,661
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable and accrued liabilities $ 2,722 $ 2,345
Accrued income taxes 163 420
Current portion of reclamation and environmental obligations 162 263
Current portion of long-term debt and short-term borrowings 67 31
Dividends payable 44 212
Copper price protection program – 598
Total current liabilities 3,158 3,869
Long-term debt, less current portion:
Senior notes 6,884 6,928
Project financing, equipment loans and other 250 252
Revolving credit facility 150 –
Total long-term debt, less current portion 7,284 7,180
Deferred income taxes 2,339 7,300
Reclamation and environmental obligations, less current portion 1,951 1,733
Other liabilities 1,520 1,106
Total liabilities 16,252 21,188
Minority interests in consolidated subsidiaries 1,328 1,239
Stockholders’ equity:
5½% Convertible Perpetual Preferred Stock, 1 shares issued and outstanding 832 1,100
6¾% Mandatory Convertible Preferred Stock, 29 shares issued and outstanding 2,875 2,875
Common stock, par value $0.10, 505 shares and 497 shares issued, respectively 51 50
Capital in excess of par value 13,989 13,407
Retained earnings (accumulated deficit) (8,267) 3,601
Accumulated other comprehensive income (loss) (305) 42
Common stock held in treasury – 121 shares and 114 shares, respectively, at cost (3,402) (2,841)
Total stockholders’ equity 5,773 18,234
Total liabilities and stockholders’ equity $ 23,353 $ 40,661
The accompanying Notes to Consolidated Financial Statements are an integral part of these financial statements.