Freeport-McMoRan 2011 Annual Report Download - page 56

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54 | FREEPORT-McMoRan COPPER & GOLD INC.
North America Copper Mines Product Revenues and Production Costs (continued)
By-Product
Co-Product Method
Year Ended December 31, 2009 Method Copper Molybdenum
a
Other
b
Total
(In millions)
Revenues, excluding adjustments $ 2,823 $ 2,823 $ 274 $ 45 $ 3,142
Site production and delivery, before net noncash
and other costs shown below 1,483 1,364 142 22 1,528
By-product credits
a
(274) — — — —
Treatment charges 102 100 — 2 102
Net cash costs 1,311 1,464 142 24 1,630
Depreciation, depletion and amortization 264 251 10 3 264
Noncash and other costs, net 129 127 2 — 129
Total costs 1,704 1,842 154 27 2,023
Revenue adjustments 92 92 — — 92
Idle facility and other non-inventoriable costs (100) (100) — — (100)
Gross profit $ 1,111 $ 973 $ 120 $ 18 $ 1,111
Reconciliation to Amounts Reported
Depreciation,
Production Depletion and
Revenues and Delivery Amortization
Totals presented above $ 3,142 $ 1,528 $ 264
Treatment charges N/A 102 N/A
Net noncash and other costs N/A 129 N/A
Revenue adjustments 92 N/A N/A
Idle facility and other non-inventoriable costs N/A 100 N/A
Eliminations and other 30 52 16
North America copper mines 3,264 1,911 280
South America mining 3,839 1,563 275
Indonesia mining 5,908 1,505 275
Africa mining 389 315 66
Molybdenum 847 660
c
49
Rod & Refining 3,356 3,336 8
Atlantic Copper Smelting & Refining 1,892 1,895 36
Corporate, other & eliminations (4,455) (4,179) 25
As reported in FCX’s consolidated financial statements $ 15,040 $ 7,006
c
$ 1,014
a. Molybdenum credits and revenues reflect volumes produced at market-based pricing and also include tolling revenues at Sierrita.
b. Includes gold and silver product revenues and production costs.
c. Includes lower of cost or market (LCM) molybdenum inventory adjustments of $19 million.
MANAGEMENT’S DISCUSSION AND ANALYSIS