Freeport-McMoRan 2012 Annual Report Download - page 24

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22
Years Ended December 31, 2012 2011 2010 2009 2008
(In millions, except per share amounts)
FCX CONSOLIDATED FINANCIAL DATA
Revenues $ 18,010 $ 20,880 $ 18,982 $ 15,040 $ 17,796
Operating income (loss) 5,814
a,b
9,140
b
9,068 6,503
c,d
(12,710)
c,d,e
Net income (loss) 3,980 5,747 5,544 3,534 (10,450)
Net income (loss) attributable to FCX common stockholders 3,041
a,b,f,g
4,560
b,f,g
4,273
f
2,527
c,d,f
(11,341)
c,d,e,f
Basic net income (loss) per share attributable to FCX common stockholders $ 3.20 $ 4.81 $ 4.67 $ 3.05 $ (14.86)
Basic weighted-average common shares outstanding 949 947 915 829 763
Diluted net income (loss) per share attributable to FCX common stockholders $ 3.19
a,b,f,g
$ 4.78
b,f,g
$ 4.57
f
$ 2.93
c,d,f
$ (14.86)
c,d,e,f
Diluted weighted-average common shares outstanding 954 955 949 938 763
Dividends declared per share of common stock $ 1.25 $ 1.50 $ 1.125 $ 0.075 $ 0.6875
Operating cash flows
h
3,774 6,620 6,273 4,397 3,370
Capital expenditures 3,494 2,534 1,412 1,587 2,708
At December 31:
Cash and cash equivalents $ 3,705 $ 4,822 $ 3,738 $ 2,656 $ 872
Property, plant, equipment and development costs, net 20,999 18,449 16,785 16,195 16,002
Total assets
35,440 32,070 29,386 25,996 23,353
Total debt, including current portion 3,527 3,537 4,755 6,346 7,351
Total FCX stockholders’ equity 17,543 15,642 12,504 9,119 5,773
The selected consolidated financial data shown above is derived from our audited consolidated financial statements. These historical results are not
necessarily indicative of results that you can expect for any future period. You should read this data in conjunction with Management’s Discussion and
Analysis of Financial Condition and Results of Operations and our Consolidated Financial Statements and Notes thereto contained in this annual report.
a. Includes a gain of $59 million ($31 million to net income attributable to common stockholders or $0.03 per share) for the settlement of the insurance claim for business interruption and
property damage relating to the 2011 incidents affecting PT Freeport Indonesia’s concentrate pipelines.
b. Includes charges totaling $16 million ($8 million to net income attributable to common stockholders or $0.01 per share) associated with labor agreement costs at Candelaria in 2012
and $116 million ($50 million to net income attributable to common stockholders or $0.05 per share) primarily associated with bonuses for new labor agreements and other employee
costs at PT Freeport Indonesia, Cerro Verde and El Abra in 2011.
c. Includes charges totaling $23 million ($18 million to net income attributable to common stockholders or $0.02 per share) associated with restructuring charges in 2009 and $17.0 billion
($12.7 billion to net loss attributable to common stockholders or $16.60 per share) associated with impairment and restructuring charges in 2008.
d. Includes charges for lower of cost or market inventory adjustments totaling $19 million ($15 million to net income attributable to common stockholders or $0.02 per share) in 2009 and
$782 million ($479 million to net loss attributable to common stockholders or $0.63 per share) in 2008.
e. Includes purchase accounting impacts related to the acquisition of FMC totaling $1.0 billion ($622 million to net loss attributable to common stockholders or $0.82 per share).
f. Includes net losses on early extinguishment and conversion of debt totaling $149 million ($0.16 per share) in 2012, $60 million ($0.06 per share) in 2011, $71 million ($0.07 per share) in
2010, $43 million ($0.04 per share) in 2009 and $5 million ($0.01 per share) in 2008; 2008 also includes charges totaling $22 million ($0.03 per share) associated with privately negotiated
transactions to induce conversion of a portion of our 5½% Convertible Perpetual Preferred Stock into FCX common stock.
g. Includes a net tax credit of $98 million, net of noncontrolling interests ($0.11 per share), associated with adjustments to Cerro Verde’s deferred income taxes in 2012, and a tax charge
of $49 million, net of noncontrolling interests ($0.05 per share), for additional taxes associated with Cerro Verde’s election to pay a special mining burden during the remaining term of its
current stability agreement in 2011.
h. Net of working capital uses and other tax payments totaling $1.4 billion in 2012, $461 million in 2011, $834 million in 2010, $770 million in 2009 and $965 million in 2008.
SELECTED FINANCIAL AND OPERATING DATA