Freeport-McMoRan 2010 Annual Report Download - page 60

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MANAGEMENT’S DISCUSSION AND ANALYSIS
FREEPORT-McMoRan COPPER & GOLD INC. 2010 Annual Report
58
Indonesia Mining Product Revenues and Production Costs (continued)
By-Product Co-Product Method
Year Ended December 31, 2009 Method Copper Gold Silver Total
(In millions)
Revenues, excluding adjustments $ 3,708 $ 3,708 $ 2,527 $ 73 $ 6,308
Site production and delivery, before net noncash
and other costs shown below 1,468 862 589 17 1,468
Gold and silver credits (2,606) — — — —
Treatment charges 312 183 125 4 312
Royalty on metals 147 86 59 2 147
Net cash (credits) costs (679) 1,131 773 23 1,927
Depreciation and amortization 275 162 110 3 275
Noncash and other costs, net 37 22 15 — 37
Total (credits) costs (367) 1,315 898 26 2,239
Revenue adjustments, primarily for pricing on prior
year open sales 53 53 5 1 59
PT Smelting intercompany profit (54) (32) (21) (1) (54)
Gross profit $ 4,074 $ 2,414 $ 1,613 $ 47 $ 4,074
Reconciliation to Amounts Reported
Depreciation,
Production Depletion and
Revenues and Delivery Amortization
(In millions)
Totals presented above $ 6,308 $ 1,468 $ 275
Treatment charges per above (312) N/A N/A
Royalty on metals per above (147) N/A N/A
Net noncash and other costs per above N/A 37 N/A
Revenue adjustments, primarily for pricing on prior
year open sales per above 59 N/A N/A
Indonesia mining 5,908 1,505 275
North America copper mines 3,235 1,911 280
South America mining 3,839 1,563 275
Africa mining 389 315 66
Molybdenum 847 660
a
49
Rod & Refining 3,356 3,336 8
Atlantic Copper Smelting & Refining 1,892 1,895 36
Corporate, other & eliminations (4,426) (4,150) 25
As reported in FCX’s consolidated financial statements $ 15,040 $ 7,035
a
$ 1,014
a. Includes LCM molybdenum inventory adjustments of $19 million.