Freeport-McMoRan 2009 Annual Report Download - page 59


REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTINGFIRM
  -9,,769;4J4V9HU*677,9.63+05* 57
   (UU\HS9LWVY[
TO THE BOARD OF DIRECTORS AND STOCKHOLDERS OF
FREEPORT-McMoRan COPPER & GOLD INC.
:HKDYHDXGLWHGWKHDFFRPSDQ\LQJFRQVROLGDWHGEDODQFHVKHHWVRI
)UHHSRUW0F0R5DQ&RSSHU*ROG,QFDVRI'HFHPEHU
DQGDQGWKHUHODWHGFRQVROLGDWHGVWDWHPHQWVRIRSHUDWLRQV
HTXLW\DQGFDVKÁRZVIRUHDFKRIWKHWKUHH\HDUVLQWKHSHULRG
HQGHG'HFHPEHU7KHVHÀQDQFLDOVWDWHPHQWVDUHWKH
UHVSRQVLELOLW\RIWKH&RPSDQ\ҋVPDQDJHPHQW2XUUHVSRQVLELOLW\LV
WRH[SUHVVDQRSLQLRQRQWKHVHÀQDQFLDOVWDWHPHQWVEDVHGRQRXU
DXGLWV
:HFRQGXFWHGRXUDXGLWVLQDFFRUGDQFHZLWKWKHVWDQGDUGVRIWKH
3XEOLF&RPSDQ\$FFRXQWLQJ2YHUVLJKW%RDUG8QLWHG6WDWHV7KRVH
VWDQGDUGVUHTXLUHWKDWZHSODQDQGSHUIRUPWKHDXGLWWRREWDLQ
UHDVRQDEOHDVVXUDQFHDERXWZKHWKHUWKHÀQDQFLDOVWDWHPHQWVDUH
IUHHRIPDWHULDOPLVVWDWHPHQW$QDXGLWLQFOXGHVH[DPLQLQJRQDWHVW
EDVLVHYLGHQFHVXSSRUWLQJWKHDPRXQWVDQGGLVFORVXUHVLQWKH
ÀQDQFLDOVWDWHPHQWV$QDXGLWDOVRLQFOXGHVDVVHVVLQJWKHDFFRXQWLQJ
SULQFLSOHVXVHGDQGVLJQLÀFDQWHVWLPDWHVPDGHE\PDQDJHPHQW
DVZHOODVHYDOXDWLQJWKHRYHUDOOÀQDQFLDOVWDWHPHQWSUHVHQWDWLRQ:H
EHOLHYHWKDWRXUDXGLWVSURYLGHDUHDVRQDEOHEDVLVIRURXURSLQLRQ
,QRXURSLQLRQWKHÀQDQFLDOVWDWHPHQWVUHIHUUHGWRDERYHSUHVHQW
IDLUO\LQDOOPDWHULDOUHVSHFWVWKHFRQVROLGDWHGÀQDQFLDOSRVLWLRQRI
)UHHSRUW0F0R5DQ&RSSHU*ROG,QFDW'HFHPEHUDQG
DQGWKHFRQVROLGDWHGUHVXOWVRILWVRSHUDWLRQVDQGLWVFDVKÁRZV
IRUHDFKRIWKHWKUHH\HDUVLQWKHSHULRGHQGHG'HFHPEHU
LQFRQIRUPLW\ZLWK86JHQHUDOO\DFFHSWHGDFFRXQWLQJSULQFLSOHV
$VGLVFXVVHGLQ1RWHWRWKHFRQVROLGDWHGÀQDQFLDOVWDWHPHQWV
WKH&RPSDQ\FKDQJHGLWVPHWKRGRIDFFRXQWLQJIRUQRQFRQWUROOLQJ
LQWHUHVWVZLWKWKHDGRSWLRQRIWKHJXLGDQFHRULJLQDOO\LVVXHGLQ)$6%
6WDWHPHQW1RNoncontrolling Interests in Consolidated Financial
StatementsFRGLÀHGLQ)$6%$6&7RSLFConsolidationHIIHFWLYH
-DQXDU\
:HDOVRKDYHDXGLWHGLQDFFRUGDQFHZLWKWKHVWDQGDUGVRIWKH
3XEOLF&RPSDQ\$FFRXQWLQJ2YHUVLJKW%RDUG8QLWHG6WDWHV
)UHHSRUW0F0R5DQ&RSSHU*ROG,QFҋVLQWHUQDOFRQWURORYHU
ÀQDQFLDOUHSRUWLQJDVRI'HFHPEHUEDVHGRQFULWHULD
HVWDEOLVKHGLQ,QWHUQDO&RQWURO,QWHJUDWHG)UDPHZRUNLVVXHGE\WKH
&RPPLWWHHRI6SRQVRULQJ2UJDQL]DWLRQVRIWKH7UHDGZD\
&RPPLVVLRQDQGRXUUHSRUWGDWHG)HEUXDU\ H[SUHVVHGDQ
XQTXDOLÀHGRSLQLRQWKHUHRQ
ERNST& YOUNG LLP
3KRHQL[$UL]RQD
)HEUXDU\