Freeport-McMoRan 2009 Annual Report Download - page 65

FREEPORT- McMoRan COPPER & GOLD INC. 63
2009 Annual Report
CONSOLIDATED STATEMENTS OF EQUITY
Convertible Perpetual Mandatory Convertible Retained OtherCommon Stock
Preferred Stock Preferred Stock
Common Stock
Capital in Earnings Comprehensive Held in Treasury To tal FCX
Number of At Par Number of At Par Number of At Par Excess of (Accumulated Income Number Stockholders’ Noncontrolling Total
Shares Value Shares Value Shares Value Par Value Deficit) (Loss) of Shares At Cost Equity Interests Equity
(In Millions)
Balance at January 1,2007 1 $1,100 — $ — 310 $31 $2,668 $1,415 $(20) 113 $ (2,749) $2,445 $213 $2,658
Sale of 6¾% Mandatory Convertible
Preferred Stock — — 29 2,875 — — (72) — — — — 2,803 —2,803
Acquisition of Phelps Dodge — — — — 137 14 7,767 — — — — 7,781 1,233 9,014
Sale of common stock — — — — 47 52,811 — — — — 2,816 —2,816
Conversions of 7% Convertible Senior Notes — — — — — — 6 — — — — 6 — 6
Exercised and issued stock-based awards — — — — 3 — 131 — — — — 131 —131
Stock-based compensation — — — — — — 86 — — — — 86 —86
Taxbenefit for stock-based awards — — — — — — 10 — — — — 10 —10
Tender of shares for stock-based awards — — — — — — — — — 1 (92) (92) —(92)
Cumulative effect adjustment to initially
apply new accounting guidance
associated with income taxes — — — — — — — 4 — — — 4 1 5
Purchase of additional interest in subsidiaries — — — — — — — — — — — — (11) (11)
Dividends on common stock — — — — — — — (587) — — — (587) —(587)
Dividends on preferred stock — — — — — — — (208) — — — (208) —(208)
Distributions to noncontrolling interests — — — — — — — — — — — — (967) (967)
Contributions from noncontrolling interests — — — — — — — — — — — — 4 4
Sale of Phelps Dodge International
Corporation — — — — — — — — — — — — (38) (38)
Comprehensive income:
Net income — — — — — — — 2,977 — — — 2,977 802 3,779
Other comprehensive income (loss), net of taxes:
Unrealized gains on securities — — — — — — — — 2 — — 2 — 2
Translation adjustment — — — — — — — — (3) — — (3) 1 (2)
Change in unrealized derivatives’ fair value — — — — — — — — (3) — — (3)(1)(4)
Reclassification to earnings — — — — — — — — 7 — — 7 1 8
Defined benefit plans:
Net gain during period, net of taxes of
$34 million — — — — — — — — 53 — — 53 154
Amortization of unrecognized amounts — — — — — — — — 6 — — 6 — 6
Other comprehensive income — — — — — — — — 62 — — 62 264
Total comprehensive income — — — — — — — — — — — 3,039 804 3,843
Balance at December31, 2007 1 $1,100 29 $2,875 497 $50 $13,407 $3,601 $42 114 $(2,841) $18,234 $1,239 $19,473
Conversions of 5½% Convertible
Perpetual Preferred Stock —(268) — — 7 1 290 — — — — 23 —23
Exercised and issued stock-based awards — — — — 1 — 179 — — — — 179 —179
Stock-based compensation — — — — — — 100 — — — — 100 —100
Taxbenefit for stock-based awards — — — — — — 13 — — — — 13 —13
Tender of shares for stock-based awards — — — — — — — — — 1 (61) (61) —(61)
Common stock purchased — — — — — — — — — 6 (500) (500) —(500)
Dividends on common stock — — — — — — — (527) — — — (527) —(527)
Dividends on preferred stock — — — — — — — (274) — — — (274) —(274)
Distributions to noncontrolling interests — — — — — — — — — — — — (730) (730)
Contributions from noncontrolling interests — — — — — — — — — — — — 201 201
Comprehensive income (loss):
Net income (loss) — — — — — — — (11,067) — — — (11,067) 617 (10,450)
Other comprehensive income (loss), net of taxes:
Unrealized losses on securities — — — — — — — — (9) — — (9) — (9)
Translation adjustment — — — — — — — — (4) — — (4) — (4)
Defined benefit plans:
Net gain (loss) during period, net of taxes
of $190 million — — — — — — — — (341) — — (341) 1(340)
Amortization of unrecognized amounts — — — — — — — — 7 — — 7 — 7
Other comprehensive income (loss) — — — — — — — — (347) — — (347) 1 (346)
Total comprehensive income (loss) — — — — — — — — — — — (11,414) 618 (10,796)
Balance at December31, 2008 1 $ 832 29 $2,875 505 $51 $13,989 $(8,267) $(305) 121 $(3,402) $5,773 $1,328 $7,101
Conversions and redemptions of 5½%
Convertible Perpetual Preferred Stock
(1) (832) — — 18 2829 — — — — (1) —(1)
Sale of common stock — — — — 27 2738 — — — — 740 —740
Exercised and issued stock-based awards — — — — 2 — 18 — — — — 18 —18
Stock-based compensation — — — — — — 100 — — — — 100 —100
Taxbenefit for stock-based awards — — — — — — 6 — — — — 6 — 6
Tender of shares for stock-based awards — — — — — — — — — 1 (11) (11) — (11)
Dividends on common stock — — — — — — — (65) — — — (65) —(65)
Dividends on preferred stock — — — — — — — (222) — — — (222) —(222)
Distributions to noncontrolling interests — — — — — — — — — — — — (535) (535)
Contributions from noncontrolling interests — — — — — — — — — — — — 59 59
Comprehensive income:
Net income
— — — — — — — 2,749 — — — 2,749 785 3,534
Other comprehensive income, net of taxes:
Unrealized gains on securities
— — — — — — — — 3 — — 3 — 3
Translation adjustment — — — — — — — — 3 — — 3 — 3
Defined benefit plans:
Net gain during period, net of taxes of
$51 million
— — — — — — — — 8 — — 8 1 9
Amortization of unrecognized amounts — — — — — — — — 18 — — 18 —18
Other comprehensive income — — — — — — — — 32 — — 32 133
Total comprehensive income — — — — — — — — — — — 2,781 786 3,567
Balance at December31, 2009
— $ — 29 $2,875 552 $55 $15,680 $(5,805) $(273) 122 $(3,413) $9,119 $1,638 $10,757
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FCX Stockholders’ Equity
Accumulated