-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, FIS6gQ9O12sdL9kp+/MpPmb9l+4RLertECipLgPU56i8L2/0F/9gokf096E8yHpb TWp/53v6hyNXtuJJU/n+Hw== 0000950147-01-501161.txt : 20010702 0000950147-01-501161.hdr.sgml : 20010702 ACCESSION NUMBER: 0000950147-01-501161 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20001231 FILED AS OF DATE: 20010629 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PHELPS DODGE CORP CENTRAL INDEX KEY: 0000078066 STANDARD INDUSTRIAL CLASSIFICATION: PRIMARY SMELTING & REFINING OF NONFERROUS METALS [3330] IRS NUMBER: 131808503 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K SEC ACT: SEC FILE NUMBER: 001-00082 FILM NUMBER: 1670791 BUSINESS ADDRESS: STREET 1: 2600 NORTH CENTRAL AVE CITY: PHOENIX STATE: AZ ZIP: 85004-3089 BUSINESS PHONE: 6022348100 MAIL ADDRESS: STREET 1: 2600 NORTH CENTRAL AVENUE CITY: PHOENIX STATE: AZ ZIP: 85004-3089 11-K 1 e-7051.txt ANNUAL REPORT FOR THE YR. ENDED DECEMBER 31, 2000 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 11-K (Mark One) [X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2000 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission file number 1-82 PHELPS DODGE EMPLOYEE SAVINGS PLAN PHELPS DODGE CORPORATION 2600 NORTH CENTRAL AVENUE PHOENIX, ARIZONA 85004-3089 SIGNATURES The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934, the Committee has duly caused this Annual Report to be signed by the undersigned hereunto duly authorized. PHELPS DODGE EMPLOYEE SAVINGS PLAN Date:___________ By: /s/ David L. Pulatie ------------------------------------- David L. Pulatie, Chairman Benefits Administration Committee PHELPS DODGE EMPLOYEE SAVINGS PLAN INDEX DECEMBER 31, 2000 AND 1999 - -------------------------------------------------------------------------------- PAGE ---- Report of Independent Accountants 1 Statements of Net Assets Available for Benefits 2 Statement of Changes in Net Assets Available for Benefits 3 Notes to Financial Statements 4 Supplemental Information:* I. Schedule of Assets (Held at End of Year) 12 II. Schedule of Reportable Transactions 27 * Other schedules required by Section 2520.103-10 of the Department of Labor Rules and Regulations for Reporting and Disclosure under ERISA have been omitted because they are not applicable REPORT OF INDEPENDENT ACCOUNTANTS To the Benefits Administration Committee and Participants of the Phelps Dodge Employee Savings Plan In our opinion, the accompanying statements of net assets available for benefits and the related statement of changes in net assets available for benefits present fairly, in all material respects, the net assets available for benefits of the Phelps Dodge Employee Savings Plan at December 31, 2000 and 1999, and the changes in net assets available for benefits for the year ended December 31, 2000 in conformity with accounting principles generally accepted in the United States of America. These financial statements are the responsibility of the Benefits Administration Committee (the Committee); our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these statements in accordance with auditing standards generally accepted in the United States of America, which require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by the Committee, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedules of assets (held at end of year) and of reportable transactions are presented for the purpose of additional analysis and are not a required part of the basic financial statements but are supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. These supplemental schedules are the responsibility of the Committee. The supplemental schedules have been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, are fairly stated in all material respects in relation to the basic financial statements taken as a whole. /s/ PricewaterhouseCoopers LLP Phoenix, Arizona June 21, 2001 PHELPS DODGE EMPLOYEE SAVINGS PLAN STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS DECEMBER 31, 2000 AND 1999 - -------------------------------------------------------------------------------- (IN THOUSANDS) 2000 1999 -------- -------- ASSETS Investments (see Note 3) $353,462 $400,893 Receivables: Employer contributions 197 282 Participant contributions -- 358 -------- -------- Net assets available for benefits $353,659 $401,533 ======== ======== The accompanying notes are an integral part of these financial statements. -2- PHELPS DODGE EMPLOYEE SAVINGS PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS FOR THE YEAR ENDED DECEMBER 31, 2000 - -------------------------------------------------------------------------------- (IN THOUSANDS) Additions to (deductions from): Additions to (deductions from) net assets attributed to: Investment income (loss): Net depreciation in fair value of investments (see Note 3) $ (44,392) Interest and dividends 17,789 --------- (26,603) --------- Contributions: Employer contributions 5,331 Participant contributions 18,759 --------- 24,090 --------- Total additions (deductions), net (2,513) --------- Deductions: Deductions from net assets attributed to: Distributions to participants and beneficiaries 45,361 --------- Total deductions 45,361 --------- Decrease in net assets (47,874) Net assets available for benefits at December 31, 1999 401,533 --------- Net assets available for benefits at December 31, 2000 $ 353,659 ========= The accompanying notes are an integral part of these financial statements. -3- PHELPS DODGE EMPLOYEE SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2000 AND 1999 - -------------------------------------------------------------------------------- 1. DESCRIPTION OF PLAN GENERAL The Phelps Dodge Corporation Savings and Deferred Profit Sharing Plan (the Plan), a defined contribution plan, was established by Phelps Dodge Corporation (the Corporation) effective January 1, 1953, for the benefit of eligible salaried employees (the Participants). Hourly employees became eligible for the savings feature of the Plan on April 1, 1989. Subsequently, the Plan name was changed to Phelps Dodge Employee Savings Plan. The Plan is subject to certain provisions of the Employee Retirement Income Security Act of 1974 (ERISA). A brief description of the Plan is included in the following paragraphs. Participants should refer to the Plan document for a complete description of Plan provisions. ADMINISTRATION The Plan is sponsored by the Corporation and administered by the Benefits Administration Committee (the Committee) composed of seven employees of the Corporation who are appointed by the Corporation's Board of Directors. Plan assets are held by a trust (the Trust) administered by UMB Bank, n.a. (the Trustee) and J.P. Morgan/American Century Retirement Plan Services (the Recordkeeper) serves as the Recordkeeper of the Trust. Fees and expenses of the Trust, other than brokerage commissions and taxes paid in connection with security transactions, and other expenses relating to the administration of the Plan were paid by the Corporation. INVESTMENT OPTIONS The Plan has a combination of participant and self-directed funds. The Trust is comprised of the following participant directed investments at December 31, 2000: Interest Income Fund - common/collective fund investing in high quality government and corporate bonds, stable value and guaranteed investment contracts and money market instruments. -4- PHELPS DODGE EMPLOYEE SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2000 AND 1999 - -------------------------------------------------------------------------------- 1. DESCRIPTION OF PLAN (CONTINUED) Income and Growth Fund - mutual fund investing in stocks of large-sized companies whose stock is expected to have a higher expected dividend yield and higher overall return potential than the S&P 500 Index. Equity Growth Fund - mutual fund investing in common stocks that fund management believes will have higher overall return potential than the S&P 500 Index. Enhanced Index Fund - mutual fund investing in approximately 350 large U.S. companies whose stock is expected to provide a higher total return potential than the S&P 500 Index. U.S. Small Company Fund - mutual fund investing in stocks of small-sized companies and seeks to outperform the Russell 2000 Index. EuroPacific Growth Fund - mutual fund investing in stocks of non-U.S. companies which appear to offer above average growth potential and whose objective is to provide long-term growth of capital. Conservative Investment Portfolio Fund - asset allocation portfolio composed of 60 percent of the Interest Income Fund and a 40 percent mix of the plan's mutual funds to provide a conservative investment return. Moderate Investment Portfolio Fund - asset allocation portfolio composed of a 60 percent mix of the plan's mutual funds and 40 percent of the Interest Income Fund to provide a moderate investment return. Aggressive Investment Portfolio Fund - asset allocation portfolio composed of an 80 percent mix of the plan's mutual funds and 20 percent of the Interest Income Fund to provide an aggressive investment return. Phelps Dodge Common Stock Fund - invests only in common stock of the Corporation. The following account allows for participants to self-direct these funds: Schwab Personal Choice Retirement Fund - enables participants to transfer funds from the above accounts to a wide range of investments, which includes mutual funds, over the counter stocks, short-term cash instruments and other investment options offered by Schwab. In addition, certain participants hold assets in the Occidental Petroleum Common Stock Fund as a result of the transfer of assets from the Columbian Chemicals Company plan. Participant loans are held in a separate Loan Fund. -5- PHELPS DODGE EMPLOYEE SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2000 AND 1999 - -------------------------------------------------------------------------------- 1. DESCRIPTION OF PLAN (CONTINUED) CONTRIBUTIONS A profit sharing contribution made for certain salaried and Phelps Dodge Mercantile hourly employee participants by the Corporation (the Company Profit Sharing Contribution) is limited to the lesser of: 8 percent of consolidated net income of the Corporation; 7 1/2 percent of the aggregate eligible base pay of Participants; or the percentage of the total eligible pay that would have been allocated to employees who were Participants in the Plan and eligible for profit sharing on December 31, 1996, determined under the terms of the Plan on that date. The Company Profit Sharing Contribution can be made only to the extent that it does not reduce consolidated net income below $0.50 per common share for such year after provision for payment of preferred and preference share dividends. The Company did not make a profit sharing contribution in 2000. Participants are eligible to make pretax contributions (Pretax Contributions), subject to certain limitations, equal to 1 percent to 15 percent of their base pay. Pretax Contributions are eligible for a matching contribution from the Corporation (Company Matching Contribution) equal to 50 percent of the first 5 percent of the base pay deferred. Participants are eligible to make contributions to the Plan after three months of service; however, these contributions are not eligible for Company Matching Contribution until after one year of service. All contributions are invested in one or more of the investment funds available within the Plan as elected by participants. Participants are fully vested in their total account balance. DISTRIBUTIONS Participants' interests in the Trust become distributable upon severance of their service with the Corporation or to their beneficiaries in the event of their death or upon attaining age 59 1/2. The distribution may be a single lump sum or a series of substantially equal annual, quarterly or monthly cash installments beginning no earlier than age 55 and continuing over a period not to exceed 10 years, at the election of the Participant or beneficiary. Cash distributions are based upon the underlying closing price of the funds, except for Phelps Dodge Common Stock or Occidental Petroleum Stock which are based upon the actual price at which the stock is liquidated in the market three days prior to the time of distribution. Distributions of the Phelps Dodge Common Stock Fund and Occidental Petroleum Common Stock Fund may be made in shares. Participants may withdraw their after-tax contributions and earnings thereon at any time. The Plan also provides, with certain limitations, for hardship withdrawals of employee Pretax, Company Matching and Company Profit Sharing Contributions; however, earnings on any of these contributions are ineligible for hardship withdrawal. Hardship withdrawals are not granted unless other financial resources are not reasonably available, including after-tax savings or a loan from the Plan. All withdrawals and distributions are made in accordance with procedures outlined in the Plan document. -6- PHELPS DODGE EMPLOYEE SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2000 AND 1999 - -------------------------------------------------------------------------------- 1. DESCRIPTION OF PLAN (CONTINUED) LOANS Participants may borrow amounts as provided in the Plan. Loans are repayable over a maximum of 5 years with the exception of loans for the purchase of a primary residence which may extend to 15 years. The minimum loan is $1,000 and the maximum loan is an amount equal to $50,000 minus the Participant's highest outstanding loan balance during the past 12 months, limited to 50 percent of the Participant's vested account balance. Loans bear the prime interest rate as quoted in the Wall Street Journal plus 2 percent as of the first of each month. The prime rate at December 31, 2000 was 9.50 percent. Loans are repaid by payroll deduction and interest is credited to Participant accounts. Loans are secured by the Participant's previous contributions to the Plan. PLAN TERMINATION The Plan may be amended or terminated at any time by the Corporation. No such action may cause any portion of the Trust to revert to the Corporation or to be used or diverted for any purpose other than for the exclusive benefit of Participants or their beneficiaries. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF PRESENTATION The financial statements of the Plan are prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America. USE OF ESTIMATES The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of Plan income and expenses during the reporting period. Actual results could differ from those estimates. INVESTMENT VALUATION AND INCOME RECOGNITION Plan investments, other than Guaranteed Investment Contracts (GICs), are presented at fair value. The fair values of common stock, registered investment companies and common/collective fund shares are based upon the closing market price on the valuation date. The GICs are recorded at contract value. Contract value is based upon the GICs respective face values plus accrued interest on the valuation date. Participant loans are valued at cost, which approximates fair value. -7- PHELPS DODGE EMPLOYEE SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2000 AND 1999 - -------------------------------------------------------------------------------- 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) Security transactions are recorded on a trade date basis. Expenses paid by the Plan in connection with such transactions include brokerage commissions and taxes which are included in the cost of securities purchased and deducted from the proceeds of securities sold. The net appreciation (depreciation) in the fair value of the Plan's investments consists of the realized gains (losses) and the unrealized appreciation (depreciation) on those investments. Dividend income is recognized on the ex-dividend date. Interest income is recognized as earned. Employer and participant contributions are recognized on the accrual basis. PAYMENT OF BENEFITS Benefits are recorded when paid. Benefit obligations for persons who have withdrawn from participation in the Plan are not recorded as liabilities in the accompanying financial statements. There were no benefit obligations outstanding at December 31, 2000 and December 31, 1999. NEW ACCOUNTING PRONOUNCEMENTS In June 1998, the Financial Accounting Standards Board issued SFAS No. 133, "Accounting for Derivative Instruments and Hedging Activities" (SFAS No. 133). SFAS No. 133 requires that an entity recognize all derivatives and measure those instruments at fair value. SFAS No. 133 is effective for fiscal years beginning after June 15, 2000. Pursuant to SFAS No. 137, the Plan is required to adopt SFAS No. 133 effective January 1, 2001. Management has not yet been able to determine the impact of SFAS No. 133 on the Plan financial statements as a result of the inconsistency in accounting literature between SFAS No. 133, requiring derivatives to be measured at fair value, and the AICPA Audit and Accounting Guide on "Audits of Employee Benefit Plans" and Statement of Position 94-4, "Reporting of Contribution Pension Plans," requiring benefit responsive investment contracts (including synthetic GICs) to be measured at contract value. Until this discrepancy is resolved, management is unable to determine the impact that SFAS 133 will have on the Plan financial statements. The carrying value of those instruments is $60,272,703 at December 31, 2000. Refer to Note 4 for further discussion of GICs. The actual impact on the Plan's net assets available for plan benefits of adopting SFAS No. 133 will be made based on the derivative positions and hedging relationships at the date of adoption. -8- PHELPS DODGE EMPLOYEE SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2000 AND 1999 - -------------------------------------------------------------------------------- 3. INVESTMENTS The following table presents the current value of investments that represent 5 percent or more of the Plan's net assets at December 31: 2000 1999 ------- ------- (in thousands) J.P. Morgan Interest Income Fund $47,371 $54,659 American Century Income & Growth Fund 47,870 60,945 American Century Equity Growth Fund 63,564 78,343 J.P. Morgan Enhanced Index Fund 26,694 34,384 Moderate Investment Portfolio Fund 21,464 24,422 Aggressive Investment Portfolio Fund 27,658 29,362 Schwab Personal Choice Retirement Fund 19,771 22,192 Phelps Dodge Corporation Common Stock 49,817 44,943 Participant Loans 19,142 19,372 During 2000, the Plan's investments (including gains and losses on investments bought and sold, as well as held during the year) depreciated in value as follows: FOR THE YEAR ENDED DECEMBER 31, 2000 -------------- (in thousands) Registered investment companies $(30,908) Common stock (8,483) Common/collective funds (5,001) -------- $(44,392) -------- -9- PHELPS DODGE EMPLOYEE SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2000 AND 1999 - -------------------------------------------------------------------------------- 4. INVESTMENT CONTRACTS WITH INSURANCE COMPANIES During 2000, the Interest Income Fund had investments in benefit responsive synthetic investment contracts. The account is credited with earnings on the underlying investments and charged for participant withdrawals and administration expenses. Contract value represents contributions made under the contract, plus earnings, less participant withdraws and administrative expenses. Participants may ordinarily direct the withdrawal or transfer of all or a portion of their investment at contract value. These contracts are included in the financial statements at contract value. There are no reserves against contract value for credit risk of the contract issuer or otherwise. The average yield and crediting interest rates were approximately 6.44% and 6.25% for 2000 and 1999, respectively. The crediting interest rate is based on a formula agreed upon by the issuers. Such interest rates are reviewed on a quarterly basis for resetting. 5. RELATED PARTY TRANSACTIONS The Trustee invests in the Corporation's common stock in accordance with the provisions of the Plan. The following is a summary of transactions in the Corporation's common stock: FOR THE YEAR ENDED DECEMBER 31, ----------------------- 2000 1999 ------- ------- (in thousands) Cost of shares purchased $25,309 $15,145 Number of shares purchased 543 277 Proceeds from shares sold $14,717 $12,927 Number of shares sold 295 239 Value of shares distributed $ 1,262 $ 1,258 Number of shares distributed 23 23 Certain Plan investments are shares of Registered Investment Companies and Common/ Collective Trusts managed by American Century Investments and J.P. Morgan Investment Management. J.P. Morgan/American Century Retirement Plan Services, an affiliate, is the Recordkeeper as defined by the Plan and, therefore, these transactions qualify as party-in-interest. -10- PHELPS DODGE EMPLOYEE SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2000 AND 1999 - -------------------------------------------------------------------------------- 6. TAX STATUS The Plan received a determination letter from the Internal Revenue Service dated January 21, 2000, which stated that the Plan met the requirements of Section 401(a) of the Internal Revenue Code and that the earnings of the Trust are exempt from taxation under Section 501(a) of the Code. 7. SUBSEQUENT EVENT Effective January 1, 2001, the assets of the Cyprus Amax Minerals Company Savings Plan and Trust, a defined contribution plan sponsored by the Corporation, were merged into the Plan. -11- PHELPS DODGE EMPLOYEE SAVINGS PLAN SUPPLEMENTAL INFORMATION SCHEDULE OF ASSETS (HELD AT END OF YEAR) SCHEDULE I DECEMBER 31, 2000 - --------------------------------------------------------------------------------
DESCRIPTION OF INVESTMENT INCLUDING MATURITY DATE, RATE OF INTEREST, IDENTITY OF ISSUE, BORROWER, COLLATERAL, PAR OR MATURITY VALUE, OR LESSOR OR SIMILAR PARTY NUMBER OF SHARES COST ** CURRENT VALUE ----------------------- ---------------- ------- ------------- CASH AND SHORT-TERM INVESTMENTS Cash -- $ 11,223 Key Bank, 7.20% Certificate Of Deposit Due 5/31/01 30,000 30,000 Schwab Money Market Fund 1,589,981 1,589,981 * UMB Scout Prime 55,795 55,795 U.S. Treasury Note 6.50% Due 2/28/02 10,000 10,119 U.S. Treasury Note 5.625% Due 2/28/01 189,911 189,911 ------------- TOTAL CASH AND SHORT-TERM INVESTMENTS 1,887,029 COMMON/COLLECTIVE FUNDS: * J.P. Morgan Enhanced Index Fund 1,787,013 shares 40,919,403 * J.P. Morgan Liquidity Fund 5,467,830 shares 5,926,775 * J.P. Morgan Public Bond Fund 3,096,650 shares 44,374,996 * J.P. Morgan Corporate Private Placement Fund 218,306 shares 2,257,285 * J.P. Morgan Mortgage Private Placement Fund 745,512 shares 11,846,194 * J.P. Morgan High Yield Opportunity Fund 52,632 shares 575,792 * J.P. Morgan Emerging Markets Opportunity Fund 56,162 shares 599,808 ------------- TOTAL COMMON/COLLECTIVE FUNDS 106,500,253 CORPORATE DEBT: General Electric Capital 6.52% Med Term Note 10/8/02 2,000 2,020 ------------- TOTAL CORPORATE DEBT 2,020 COMMON STOCKS: 1/10 Berkshire Hathaway Class A 10 shares 71,000 1st Miracle Group Inc 1,400,000 shares 7,140 3Com Corp 694 shares 5,899 7 Eleven Inc 10 shares 88 A C L N Ltd 125 shares 2,922 A D C Telecommunication 625 shares 11,328 A M B I Incorporated 300 shares 225 A M Communications Inc 2,000 shares 540 A M F Bowling Inc 800 shares 54 A T & T Corporation 2,815 shares 48,737 A T & T Wireless 500 shares 8,656 Aastrom Biosciences Inc 580 shares 508 Accelerated Networks Inc 500 shares 1,391 Access Power Inc 250 shares 23 Ace Comm Corporation 100 shares 231 Adept Technology Inc 300 shares 4,350 Advanced Digital Information Corporation 100 shares 2,300 Advanced Micro Devices 2,642 shares 36,493 Advanced Viral Research 1,300 shares 423 Albertsons Incorporated 202 shares 5,341 Alcoa Inc 600 shares 20,100
-12- PHELPS DODGE EMPLOYEE SAVINGS PLAN SUPPLEMENTAL INFORMATION SCHEDULE OF ASSETS (HELD AT END OF YEAR) SCHEDULE I DECEMBER 31, 2000 - --------------------------------------------------------------------------------
DESCRIPTION OF INVESTMENT INCLUDING MATURITY DATE, RATE OF INTEREST, IDENTITY OF ISSUE, BORROWER, COLLATERAL, PAR OR MATURITY VALUE, OR LESSOR OR SIMILAR PARTY NUMBER OF SHARES COST ** CURRENT VALUE ----------------------- ---------------- ------- ------------- COMMON STOCKS: (CONTINUED) Allaire Corporation 34 shares $ 171 Amazon.com Inc 531 shares 8,264 America West Holdings Corporation Class B 141 shares 1,807 America Online Inc 877 shares 30,520 American Home Products Corporation 200 shares 12,710 Ameripath Inc 500 shares 12,500 Ameritrade Holding Corporation Class A 20 shares 140 Amern Aircarriers Supprt 320 shares 5 Amgen Incorporated 800 shares 51,150 Amkor Technology Inc 50 shares 776 Anadarko Petroleum Corporation 25 shares 1,777 Anadigics Inc 100 shares 1,638 Analog Devices Inc 462 shares 23,649 Applebees Intl Inc 10 shares 316 Applied Digital Solution 500 shares 344 Applied Materials Inc 826 shares 31,543 Applied Micro Circuits 322 shares 24,165 Applied Science & Tech 200 shares 2,400 Arch Wireless Inc 176 shares 110 At Home Corporation Class A 1,800 shares 9,956 Atmel Corporation 1,450 shares 16,856 Audiovox Corporation Class A 150 shares 1,350 Avaya Inc 434 shares 4,476 Avici System Inc 639 shares 15,735 Axia Group Inc 500 shares 203 B M C Software Inc 250 shares 3,500 Bank of America Corporation 50 shares 2,294 Bank One Corporation 79 shares 2,908 Be Free Inc 400 shares 875 Bea Systems Inc 100 shares 6,731 Benguet Corporation Class B 1,000 shares 31 Berkshire Hathaway Class B 7 shares 16,478 Bethlehem Steel Corporation 600 shares 1,050 Bico Inc 10,000 shares 490 Bindview Development Corporation 200 shares 1,881 Biogen Inc 400 shares 24,025 Biomerica Inc 100 shares 41 Biopure Corporation Class A 25 shares 500 Boeing Corporation 102 shares 6,747 Bombardier Inc Cv Class B 200 shares 3,090 Boston Biomedica Inc 15 shares 24 Briggs & Stratton Corporation 83 shares 3,675 Brinker Intl Inc 300 shares 12,675 Broadcom Corporation Class A 228 shares 19,152
-13- PHELPS DODGE EMPLOYEE SAVINGS PLAN SUPPLEMENTAL INFORMATION SCHEDULE OF ASSETS (HELD AT END OF YEAR) SCHEDULE I DECEMBER 31, 2000 - --------------------------------------------------------------------------------
DESCRIPTION OF INVESTMENT INCLUDING MATURITY DATE, RATE OF INTEREST, IDENTITY OF ISSUE, BORROWER, COLLATERAL, PAR OR MATURITY VALUE, OR LESSOR OR SIMILAR PARTY NUMBER OF SHARES COST ** CURRENT VALUE ----------------------- ---------------- ------- ------------- COMMON STOCKS: (CONTINUED) Broadvision Inc 670 shares $ 7,914 Buy.Com 954 shares 626 C & D Technologies Inc 30 shares 1,296 C B R L Group Inc 551 shares 10,015 C M G I Inc 561 shares 3,138 C S K Auto Corporation 200 shares 775 C T S Corporation 100 shares 3,655 C V S Corporation Del 100 shares 5,994 Cable Design Tech Corporation 750 shares 12,609 Caldera Systems 350 shares 678 Calico Commerce Inc 1,000 shares 969 Caliper Technologies Cp 30 shares 1,410 Calpine Corporation 74 shares 3,335 Carbon Energy Corporation 500 shares 3,375 Cardstakes.Com 84 shares - Carrizo Oil & Gas Inc 200 shares 1,825 Catalyst Semiconductor Inc 10,000 shares 38,750 Caterpillar Inc 89 shares 4,214 Cellnet Data Systems 1,000 shares - Cendant Corporation 2,050 shares 19,731 Charter Communications 370 shares 8,394 Check Point Software Tech F 20 shares 2,671 Checkfree Corporation New 10 shares 425 Chesapeake Energy Corporation 100 shares 1,013 Chinadotcom Corporation Class A 500 shares 2,250 Ciena Corporation 267 shares 21,694 Circuit City Stores Inc-Circuit City Group 200 shares 2,300 Cis.Com Inc 999 shares 4 Cisco Systems Inc 8,924 shares 341,319 Citigroup Inc 259 shares 13,225 Citrix Systems Inc 1,000 shares 22,500 Clear Channel Communications, Inc 25 shares 1,211 Coca Cola Company 1,010 shares 61,549 Coherent Inc 50 shares 1,625 Comcast Corporation Special Class A Non Voting Shares 200 shares 8,350 Commerce One Inc 135 shares 3,417 Commun Intelligence 1,000 shares 1,031 Compaq Computer Corporation 852 shares 12,825 Concord E F S Inc 200 shares 8,788 Concur Technologies Inc 5,680 shares 6,301 Conductus Inc 50 shares 263 Conexant Systems Inc 298 shares 4,582 Conoco Inc Class A 105 shares 2,992 Convergent Group Corporation 1,000 shares 7,875
-14- PHELPS DODGE EMPLOYEE SAVINGS PLAN SUPPLEMENTAL INFORMATION SCHEDULE OF ASSETS (HELD AT END OF YEAR) SCHEDULE I DECEMBER 31, 2000 - --------------------------------------------------------------------------------
DESCRIPTION OF INVESTMENT INCLUDING MATURITY DATE, RATE OF INTEREST, IDENTITY OF ISSUE, BORROWER, COLLATERAL, PAR OR MATURITY VALUE, OR LESSOR OR SIMILAR PARTY NUMBER OF SHARES COST ** CURRENT VALUE ----------------------- ---------------- ------- ------------- COMMON STOCKS: (CONTINUED) Corel Corporation 200 shares $ 319 Corgenix Medical Corporation 585 shares 53 Corning Inc 343 shares 18,115 Critical Path Inc 50 shares 1,538 Crossroads Systems Inc 1,000 shares 4,688 Cyber-Care Inc 50 shares 106 Cypress Semiconductor 200 shares 3,938 Cytogenix Inc 2,000 shares 250 D C G R Intl Holdings 20 shares 10 D C H Technology Inc 675 shares 970 D R Horton Corporation 1 share 6 Datalink.Net Inc 1,000 shares 2,125 Dell Computer Corporation 2,549 shares 44,448 Delphi Automotive System 323 shares 3,634 Detour Magazine Inc 1,000 shares 260 Devon Energy Corporation 60 shares 3,658 Dicom Imaging Systems Inc 9,000 shares 2,813 Digital Island Inc 220 shares 894 Direct Focus Inc 60 shares 2,014 Disney, Walt Holding Company 330 shares 9,549 Dollar General Corporation 2,537 shares 47,886 Drkoop.Com Inc 280 shares 61 Du Pont E I De Nemour & Company 203 shares 9,797 Duke Energy Corporation 200 shares 17,050 Dynacq Intl Inc 100 shares 1,019 Dynasil Corporation America 2,000 shares 2,500 Dynegy Inc Class A 100 shares 5,606 E Digital Corporation 1,000 shares 1,688 E M C Corporation 448 shares 29,792 E.Spire Communications Inc 17,500 shares 8,750 Earthlink Inc 1,000 shares 5,031 Eastman Kodak Company 72 shares 2,827 Ebay Inc 300 shares 9,900 Echelon Corporation 300 shares 4,819 EchoStar Communications Corporation 100 shares 2,275 Egghead.Com Inc 50 shares 30 El Paso Energy Corporation 200 shares 14,325 Elcom Intl Inc 500 shares 688 Emulex Corporation 732 shares 58,514 Endwave Corporation 100 shares 313 Enron Corporation 690 shares 57,383 Environmental Tech Corporation 2,000 shares 1,563 Ericsson Tel Adr B New Class B 1,700 shares 19,019 Eshare Communications Inc 26,300 shares 32,875
-15- PHELPS DODGE EMPLOYEE SAVINGS PLAN SUPPLEMENTAL INFORMATION SCHEDULE OF ASSETS (HELD AT END OF YEAR) SCHEDULE I DECEMBER 31, 2000 - --------------------------------------------------------------------------------
DESCRIPTION OF INVESTMENT INCLUDING MATURITY DATE, RATE OF INTEREST, IDENTITY OF ISSUE, BORROWER, COLLATERAL, PAR OR MATURITY VALUE, OR LESSOR OR SIMILAR PARTY NUMBER OF SHARES COST ** CURRENT VALUE ----------------------- ---------------- ------- ------------- COMMON STOCKS: (CONTINUED) Etoys Inc 500 shares $ 94 E-Trade Group Inc 310 shares 2,286 Evolve One Inc 2,000 shares 63 Evolving Systems Inc 11,600 shares 25,013 Exodus Commun Inc 400 shares 8,000 Exult Inc 200 shares 2,650 Exxon Mobil Corporation 100 shares 8,694 Family Dollar Stores Inc 1,000 shares 21,438 Famous Fixins Inc 400 shares 6 Federal-Mogul Corporation 300 shares 695 Fedex Corporation 40 shares 1,598 Finova Group Inc 1,507 shares 1,413 First Entmt Holding Corporation 12,500 shares 195 Firstar Corporation 30 shares 698 Flextronics Intl Ltd 400 shares 11,400 Fogdog Inc 1,400 shares 744 Ford Motor Company 427 shares 10,009 Forestindustry.Com Inc 2,000 shares 625 Foundry Networks Inc 100 shares 1,500 Freedom Golf Corporation 3,000 shares 300 Freemarkets Inc 40 shares 760 Freeport McMoRan Copper & Gold Class B 400 shares 3,425 Fuelcell Energy Inc 176 shares 12,067 Fundtech Ltd 3,000 shares 53,625 Fusion Medical Tech 600 shares 2,400 Gadzoox Networks Inc 2,000 shares 4,188 Galtech Semiconductor Material 700 shares 294 Gap Inc 691 shares 17,612 General Cable Cp De 5,500 shares 24,406 General Chem Group Inc 2,000 shares 2,000 General Electric Company 2,660 shares 127,518 General Magic Inc 180 shares 253 General Motors Corporation 72 shares 3,674 Giant Inds Inc 5,400 shares 39,488 Gilat Communications Ltd 100 shares 200 Global Crossing Ltd 3,500 shares 50,094 Global Games Corporation 1,300 shares 13 Global Telesystems Inc 300 shares 244 Globalstar Telecom 16,989 shares 15,397 Goldman Sachs Group Inc 101 shares 10,789 Gulf Canada Res Ltd 110 shares 557 H Power Corporation 100 shares 769 H&Q Ipo & Emerging Company Fund 243 shares 1,749 Harley Davidson Inc 207 shares 8,228
-16- PHELPS DODGE EMPLOYEE SAVINGS PLAN SUPPLEMENTAL INFORMATION SCHEDULE OF ASSETS (HELD AT END OF YEAR) SCHEDULE I DECEMBER 31, 2000 - --------------------------------------------------------------------------------
DESCRIPTION OF INVESTMENT INCLUDING MATURITY DATE, RATE OF INTEREST, IDENTITY OF ISSUE, BORROWER, COLLATERAL, PAR OR MATURITY VALUE, OR LESSOR OR SIMILAR PARTY NUMBER OF SHARES COST ** CURRENT VALUE ----------------------- ---------------- ------- ------------- COMMON STOCKS: (CONTINUED) Harmony Gold Mining 100 shares $ 469 Harnischfeger Industrial Inc 131,989 shares 7,919 Harrah's Entmt Inc 20 shares 528 Hathaway Corporation Inc 3,000 shares 9,000 Heilig-Meyers Company 100 shares 3 Hewlett-Packard Company 900 shares 28,406 Home Depot Inc 1,007 shares 46,026 Home Fing. Ctrs. Inc 40 shares 18 Homebase Inc 1,000 shares 1,000 Hoovers Inc 100 shares 238 Hope Bay Gold Inc 10,000 shares 1,977 Hydrogiene Corporation 3,000 shares 75 Hypercom Corporation 354 shares 1,106 Hytek Micro Systems Inc 3,000 shares 13,875 I 2 Technologies Inc 262 shares 14,246 I C O S Corporation 50 shares 2,597 I3 Mobil Inc 3,000 shares 12,000 Iexalt Inc 100 shares 18 iGo Corporation 265 shares 480 Imclone Systems Inc 40 shares 1,760 Immulabs Corporation 4 shares 5 Indl Rubber Products 5,000 shares 3,438 Indo Pacific Energy Ltd 550 shares 34 Infonet Services Corporation 1,052 shares 5,260 Infospace Inc 1,000 shares 8,844 Inktomi Corporation 100 shares 1,788 Intel Corporation 5,550 shares 166,839 Internet Business's Intl 600 shares 51 Interphase Corporation 200 shares 1,763 Inter-Tel Inc 100 shares 769 Interwoven Inc 440 shares 29,013 Intl Business Machines 220 shares 18,717 Intl Fibercom Inc 200 shares 988 Intl Uranium Corporation 20,000 shares 3,400 Intuit Inc 50 shares 1,972 Inverness Medical Tech 100 shares 3,894 Iomega Corporation 1,000 shares 3,370 Itronics Inc 500 shares 145 Ivax Corporation 30 shares 1,149 ixl Enterprises Inc 5,023 shares 5,023 Jabil Circuit Inc 536 shares 13,601 Jawz Inc 1,500 shares 703 JDS Uniphase Corporation 1,691 shares 70,494 Johnson & Johnson 101 shares 10,575
-17- PHELPS DODGE EMPLOYEE SAVINGS PLAN SUPPLEMENTAL INFORMATION SCHEDULE OF ASSETS (HELD AT END OF YEAR) SCHEDULE I DECEMBER 31, 2000 - --------------------------------------------------------------------------------
DESCRIPTION OF INVESTMENT INCLUDING MATURITY DATE, RATE OF INTEREST, IDENTITY OF ISSUE, BORROWER, COLLATERAL, PAR OR MATURITY VALUE, OR LESSOR OR SIMILAR PARTY NUMBER OF SHARES COST ** CURRENT VALUE ----------------------- ---------------- ------- ------------- COMMON STOCKS: (CONTINUED) Juniper Networks Inc 54 shares $ 6,807 Juno Online Services Inc 450 shares 295 Justwebit.Com Inc 2,000 shares 140 K L A Tencor Corporation 100 shares 3,369 K Mart Corporation 9,227 shares 49,018 Kana Communications Inc 200 shares 2,300 Kanakaris Wireless 2,205 shares 441 Keebler Foods 1,500 shares 62,156 Keithley Instruments Inc 1,350 shares 58,134 Kemet Corporation 125 shares 1,891 Key Production Co 26 shares 873 Kismet Energy Corporation 1,000 shares 15 Knight Trading Group 30 shares 418 Kon Philips Electric 597 shares 21,641 Kopin Corporation 100 shares 1,106 Korea Thrunet Ltd Class A 820 shares 1,948 Kulicke & Soffa Inds. Inc 200 shares 2,250 Learn2.Com Inc 1,000 shares 406 Level 3 Communications 200 shares 6,563 Liberty Satellite & Tech Class A 550 shares 1,736 Linear Technology Corporation 100 shares 4,632 Loch Harris Inc 4,500 shares 315 London Pacific Grp Adr 80 shares 605 Loral Space & Communications Ltd 350 shares 1,116 Lowes Companies Inc 50 shares 2,225 LSI Logic Corporation 1,013 shares 17,312 Lucent Technologies Inc 8,547 shares 115,379 M K S Instruments Inc 1,000 shares 15,500 M R V Communications Inc 2,000 shares 26,750 Manhattan Associates Inc 35 shares 1,492 Manpower Inc 20 shares 760 MapInfo Corporation 31 shares 1,465 Mattson Technology 1,000 shares 10,313 Maxim Pharmaceuticals 1,000 shares 6,375 Maxtor Corporation 545 shares 3,049 McKesson HBOC Inc 200 shares 7,178 Measurement Specialties 500 shares 9,750 MedCom Usa Inc 2,000 shares 1,188 Medialink Worldwide Inc 110 shares 481 Medquist Inc 35 shares 560 Mercator Software Inc 2,000 shares 10,750 Merck & Co Inc 300 shares 28,088 Meritage Corporation 100 shares 3,700 META Group Inc 100 shares 650
-18- PHELPS DODGE EMPLOYEE SAVINGS PLAN SUPPLEMENTAL INFORMATION SCHEDULE OF ASSETS (HELD AT END OF YEAR) SCHEDULE I DECEMBER 31, 2000 - --------------------------------------------------------------------------------
DESCRIPTION OF INVESTMENT INCLUDING MATURITY DATE, RATE OF INTEREST, IDENTITY OF ISSUE, BORROWER, COLLATERAL, PAR OR MATURITY VALUE, OR LESSOR OR SIMILAR PARTY NUMBER OF SHARES COST ** CURRENT VALUE ----------------------- ---------------- ------- ------------- COMMON STOCKS: (CONTINUED) Microage Inc 487 shares $ 15 Microsoft Corporation 2,320 shares 100,630 Microstrategy Inc Class A 200 shares 1,900 Mikasa Inc 89 shares 1,452 Minnesota Mining & Manufacturing 112 shares 13,496 Mobile Mini Inc 400 shares 9,200 Motorola Incorporated 2,701 shares 54,685 Musicmaker.Com Inc 111 shares 347 Myturn.Com Inc 10,000 shares 9,375 N C S Healthcare Class A 3,940 shares 394 Nanopierce Technologies 1,000 shares 813 National Semiconductor Corporation 100 shares 2,013 Netergy Networks Inc 14 shares 26 Netlojix Communs Inc 1,000 shares 156 Network Appliance Inc 288 shares 18,486 Netzero Inc 858 shares 751 New Horizon Kids Quest 200 shares 113 New Tel Ltd 15 shares 48 Newell Rubbermaid Inc 347 shares 7,891 Newport Corporation 174 shares 13,678 Nexell Therapeutics 212 shares 643 Nextel Communications 200 shares 4,950 Nokia Corporation Spon Adr 2,842 shares 123,627 Nortel Networks Corporation 302 shares 9,683 o2wireless Solutions Inc 1,404 shares 13,075 Office Depot Inc 100 shares 713 Omnisky Corporation 300 shares 2,494 Onvia.Com Inc 1,004 shares 847 Optical Communications Products Inc 200 shares 2,250 Oracle Corporation 3,372 shares 97,999 Owens Corning 2,150 shares 1,747 Oxy Corporation 6,252 shares 151,627 P G & E Corporation 2 shares 31 P M C Sierra Inc 202 shares 15,882 Pacific Century Cyberworks 300 shares 180 Palm Inc 375 shares 10,617 Parametric Technology Corporation 920 shares 12,363 Paravant Inc 370 shares 740 Parts.Com Inc 610 shares 285 Patina Oil & Gas Corporation 100 shares 2,402 Penney J C Co Inc 200 shares 2,175 Pepsico Incorporated 200 shares 9,927 Petro Geo Svcs A/S 100 shares 1,331 Pets.Com 140 shares 13
-19- PHELPS DODGE EMPLOYEE SAVINGS PLAN SUPPLEMENTAL INFORMATION SCHEDULE OF ASSETS (HELD AT END OF YEAR) SCHEDULE I DECEMBER 31, 2000 - --------------------------------------------------------------------------------
DESCRIPTION OF INVESTMENT INCLUDING MATURITY DATE, RATE OF INTEREST, IDENTITY OF ISSUE, BORROWER, COLLATERAL, PAR OR MATURITY VALUE, OR LESSOR OR SIMILAR PARTY NUMBER OF SHARES COST ** CURRENT VALUE ----------------------- ---------------- ------- ------------- COMMON STOCKS: (CONTINUED) Pfizer Incorporated 1,666 shares $ 76,656 Pharmacia Corporation 23 shares 1,403 Pharmos Corporation 600 shares 956 Philip Morris Companies Inc 3,600 shares 158,400 Pilgrim International Small Cap Growth Fund Class A 105 shares 3,273 Pinnacle Business Mgmt 250,427 shares 10,017 Plug Power Inc 100 shares 1,469 Portal Software Inc 450 shares 3,530 Power-One Inc 40 shares 1,573 Presstek Inc 400 shares 4,200 Priceline.Com Inc 1,400 shares 1,838 Prima Energy Co 105 shares 3,675 Primelink Sys Inc 100 shares 375 Procter & Gamble Co 308 shares 24,185 PSINet Inc 988 shares 710 Puma Technology Inc 350 shares 1,455 Qlogic Corporation 220 shares 16,940 Quaker Oats Co 50 shares 4,869 Qualcomm Inc 1,534 shares 126,076 Quentra Networks Inc 700 shares 23 Quintus Corporation 400 shares - Quokka Sports Inc 50 shares 28 Qwest Communications Intl Inc 242 shares 9,922 Rambus Inc 257 shares 9,284 Ramtron Intl Corporation 60 shares 263 Rayovac Corporation 900 shares 12,769 Razorfish Inc Class A 90 shares 146 Recordlab Corporation 450 shares - Redhat Inc 1,050 shares 6,563 Reliv International Inc 250 shares 313 Rhythms Netconnections 1,000 shares 1,125 Rite Aid Corporation 16,888 shares 40,109 Rockford Corporation 20 shares 100 Rosetta Inpharmactics Inc 500 shares 8,000 S B C Communications Inc 367 shares 17,521 S C I Systems Inc 100 shares 2,638 S D L Inc 257 shares 38,084 Safeguard Scientific Inc 800 shares 5,300 Salton Inc 300 shares 6,206 Sandisk Corporation 350 shares 9,713 Sanmina Corporation 100 shares 7,663 Sara Lee Corporation 1 shares 13 Scientific Atlanta Inc 645 shares 21,015 Sento Corporation 200 shares 538
-20- PHELPS DODGE EMPLOYEE SAVINGS PLAN SUPPLEMENTAL INFORMATION SCHEDULE OF ASSETS (HELD AT END OF YEAR) SCHEDULE I DECEMBER 31, 2000 - --------------------------------------------------------------------------------
DESCRIPTION OF INVESTMENT INCLUDING MATURITY DATE, RATE OF INTEREST, IDENTITY OF ISSUE, BORROWER, COLLATERAL, PAR OR MATURITY VALUE, OR LESSOR OR SIMILAR PARTY NUMBER OF SHARES COST ** CURRENT VALUE ----------------------- ---------------- ------- ------------- COMMON STOCKS: (CONTINUED) Service Corporation Intl 335 shares $ 586 Shaman Pharmaceutcls 58,001 shares 1,972 Siebel Systems Inc 236 shares 15,960 Sierracities.Com Inc 130 shares 325 Silicon Storage Tech 300 shares 3,544 Siskon Gold Corporation 3,000 shares 12 Skymall Inc 2,185 shares 2,458 Solectron Corporation 540 shares 18,306 Southwall Technologies 462 shares 1,328 Southwest Airlines Company 200 shares 6,716 Spatializer Audio Laboratories Inc 1,000 shares 230 Spectrum Control Inc 1,500 shares 15,094 Sports Authority Inc 6,000 shares 7,125 Sprint FON Group 603 shares 12,250 Sprint PCS Group 500 shares 10,219 Stage Stores Inc 5,400 shares 84 Stamford Intl Inc 1,800 shares 3,825 Starnet Communs Intl Inc 24,000 shares 10,080 Stillwater Mining Corporation 500 shares 19,675 Stratos Lightwave Inc 500 shares 8,531 Styling Technology Corporation 130 shares 24 Sun Healthcare Group Inc 1,500 shares 45 Sun Microsystems Inc 2,451 shares 68,322 Sungard Data Systems Inc 68 shares 3,205 Superconductor Tech 25 shares 91 Sycamore Networks Inc 509 shares 18,960 Synergy Brands Inc 33,400 shares 19,833 Synopsys Inc 200 shares 9,488 T C S I Corporation 200 shares 275 Take-Two Interactive Software Inc 100 shares 1,150 Talk Visual Corporation 22,000 shares 2,552 Target Corporation 801 shares 25,843 TD Waterhouse Group 700 shares 9,275 Tellabs Inc 1,800 shares 101,700 Telynx Inc 1,000 shares 29 Texas Instruments Inc 825 shares 39,088 THCG Inc 60 shares 41 The Charles Schwab Corporation 870 shares 24,688 Three-Five Systems Inc 250 shares 4,500 TNPC Inc 5 shares 49 Tollgrade Communications Inc 545 shares 19,893 Tommy Hilfiger Corporation 160 shares 1,570 Trans Orient Pete Ltd 1,000 shares 67
-21- PHELPS DODGE EMPLOYEE SAVINGS PLAN SUPPLEMENTAL INFORMATION SCHEDULE OF ASSETS (HELD AT END OF YEAR) SCHEDULE I DECEMBER 31, 2000 - --------------------------------------------------------------------------------
DESCRIPTION OF INVESTMENT INCLUDING MATURITY DATE, RATE OF INTEREST, IDENTITY OF ISSUE, BORROWER, COLLATERAL, PAR OR MATURITY VALUE, OR LESSOR OR SIMILAR PARTY NUMBER OF SHARES COST ** CURRENT VALUE ----------------------- ---------------- ------- ------------- COMMON STOCKS: (CONTINUED) Transocean Sedco Forex 200 shares $ 9,200 Travelocity.Com Inc 11 shares 133 Trident Microsystems 4,000 shares 18,000 Trimble Navigation Ltd 460 shares 11,040 Triton Network Systems 2,000 shares 6,250 Turnstone Systems Inc 1,000 shares 7,438 Tyco Intl Ltd 70 shares 3,885 U R S Corporation 100 shares 1,469 Union Planters Corporation 103 shares 3,689 Unisource Energy Corporation 151 shares 2,837 United Parcel Service Class B 263 shares 15,470 Uslab.Com Inc 230 shares - Utilicorp United Inc 300 shares 9,300 V D C Communications Inc 1,000 shares 31 V I S X Inc Delaware 108 shares 1,127 VA Linux Systems Inc 51 shares 414 Vasomedical Inc 250 shares 547 Vast Solutions Inc Class B1 46 shares - Vast Solutions Inc Class B2 46 shares - Vast Solutions Inc Class B3 46 shares - Ventro Corporation 4,100 shares 4,100 Venture Catalyst Inc 2,000 shares 2,188 Verisign Inc 85 shares 6,306 Viragen Inc 3,000 shares 3,938 Virata Corporation 50 shares 544 Vishay Intertechnology 400 shares 6,050 Vista Gold Corporation 2,000 shares 94 Vitesse Semiconductor Corporation 1,000 shares 55,313 Vitria Technology Inc 11,500 shares 89,125 Vivendi Universal 16 shares 1,045 Vixel Corporation 50 shares 94 Walgreen Company 101 shares 4,225 Wal-Mart Stores Inc 3,004 shares 159,563 Wamex Holdings Inc 160 shares 3 Wave Systems Corporation Class A 4,650 shares 20,925 Wavo Corporation 2,100 shares 76 Webb Interactive Services 1,100 shares 1,856 Webvan Group Inc 1,000 shares 469 Western Wireless Corporation Class A 200 shares 7,838 Williams Companies 300 shares 11,981 Wilson Greatbatch Tech 50 shares 1,413 Wind River Systems Inc 250 shares 8,531 Wireless Data Solutions 1,000 shares 120 World Wrestling Federation Class A 150 shares 2,400
-22- PHELPS DODGE EMPLOYEE SAVINGS PLAN SUPPLEMENTAL INFORMATION SCHEDULE OF ASSETS (HELD AT END OF YEAR) SCHEDULE I DECEMBER 31, 2000 - --------------------------------------------------------------------------------
DESCRIPTION OF INVESTMENT INCLUDING MATURITY DATE, RATE OF INTEREST, IDENTITY OF ISSUE, BORROWER, COLLATERAL, PAR OR MATURITY VALUE, OR LESSOR OR SIMILAR PARTY NUMBER OF SHARES COST ** CURRENT VALUE ----------------------- ---------------- ------- ------------- COMMON STOCKS: (CONTINUED) Worldcom Inc 2,834 shares $ 39,853 Worldgate Communications Inc 130 shares 496 Worldwide Web Ntwrx Corporation 300 shares 39 Xerox Corporation 2,175 shares 10,059 Xilinx Inc 25 shares 1,153 Xo Communications Class A 100 shares 1,781 Xybernaut Corporation 25 shares 42 Yahoo! Inc 276 shares 8,297 Zap.Com Corporation 2 shares 1 Zapata Corporation 100 shares 156 Zymetx Inc 750 shares 984 ------------- TOTAL COMMON STOCKS 5,509,278 REGISTERED INVESTMENT COMPANIES: * American Century Global Gold Fund 9,765 shares 39,059 * American Century Growth Fund 870 shares 20,889 * American Century Small Cap Value Fund Investor 184 shares 1,162 * American Century Technology Fund 16,254 shares 54,289 * American Century Ultra Fund 86 shares 2,772 Amerindo Technology Fund Class D 273 shares 3,191 Artisan International Fund 491 shares 10,763 Baron Growth Fund 80 shares 2,312 Baron Iopportunity Fund 201 shares 1,220 Berger New Generation Fund 259 shares 4,129 Berger Small Cap Value Fund-Investor Shares 1,091 shares 27,732 Berkshire Focus Fund 20 shares 657 Berkshire Technology Fund 252 shares 2,025 Dodge & Cox Balanced Fund 21 shares 1,307 Dresdner RCM Biotechnology Fund Class N 1,273 shares 46,323 Dresdner RCM Global Health Care Fund Class N 361 shares 8,873 Dreyfus Premier Technology Growth Fund 224 shares 8,592 Fidelity Aggressive Growth Fund 111 shares 4,016 Fidelity Capital & Income Fund 4,204 shares 32,496 Fidelity Contrafund II 548 shares 6,299 Fidelity Equity Income Fund 45,371 shares 2,424,152 Fidelity Growth Co Fund 22 shares 1,600 Fidelity Magellan Fund 1,475 shares 175,914 Fidelity Magellan Fund 55,341 shares 6,602,168 Fidelity OTC Portfolio 527 shares 21,652 Fidelity Select Biotechnolgy 20 shares 1,740 Fidelity Select Electronic Select Electronics 474 shares 27,413 Fidelity Select Technology Select Technology 26 shares 2,313 Fidelity Select Utilities Growth 438 shares 22,236
-23- PHELPS DODGE EMPLOYEE SAVINGS PLAN SUPPLEMENTAL INFORMATION SCHEDULE OF ASSETS (HELD AT END OF YEAR) SCHEDULE I DECEMBER 31, 2000 - --------------------------------------------------------------------------------
DESCRIPTION OF INVESTMENT INCLUDING MATURITY DATE, RATE OF INTEREST, IDENTITY OF ISSUE, BORROWER, COLLATERAL, PAR OR MATURITY VALUE, OR LESSOR OR SIMILAR PARTY NUMBER OF SHARES COST ** CURRENT VALUE ----------------------- ---------------- ------- ------------- REGISTERED INVESTMENT COMPANIES: (CONTINUED) Firsthand Communications Fund 547 shares $ 4,638 Firsthand Technology Innovators Fund 2,782 shares 64,340 Firsthand Technology Leaders Fund 464 shares 15,702 Firsthand Technology Value Fund 163 shares 12,130 Fremont U.S. Micro Cap Fund 373 shares 10,035 Gabelli Global Growth Fund 234 shares 4,768 Gabelli Growth Fund 79 shares 2,991 Henlopen Fund 285 shares 5,673 Icon Healthcare Fund Class A 471 shares 5,849 Internet Fund 232 shares 5,595 INVESCO Strat Energy Port 266 shares 5,547 INVESCO Strat Health Science Fund 307 shares 18,232 INVESCO Technology Fund 581 shares 34,722 INVESCO Telecommunications Fund 694 shares 25,171 Investec Internet.Com Index Fund 58 shares 525 Investec Wired Index 419 shares 7,697 IPS Millennium Fund Class A 796 shares 41,286 Ishares Msci Japan Index Fund 790 shares 8,739 Janus Balanced Fund 2,871 shares 60,990 Janus Enterprise Fund 819 shares 43,637 Janus Fund 867 shares 28,874 Janus Global Life Sciences Fund 1,118 shares 23,983 Janus Global Technology Fund 4,224 shares 85,407 Janus Growth & Income Fund 413 shares 14,598 Janus Mercury Fund 8,440 shares 250,421 Janus Olympus Fund 4,382 shares 180,332 Janus Orion Fund 160 shares 1,122 Janus Special Situations Fund 3,139 shares 55,537 Janus Strategic Value Fund 1,061 shares 11,163 Janus Twenty Fund 4,335 shares 237,531 Janus Worldwide Fund 816 shares 46,417 Kaufmann Fund Inc 1,448 shares 6,415 Kopp Emerging Growth Fund Class A 68 shares 1,235 MAS Small Capitalization Growth Portfolio 95 shares 3,544 Millennium Growth & Income Fund 604 shares 7,263 Munder Netnet Fund Class A 64 shares 2,214 Murphy New World Biotechnology Fund 106 shares 844 Navellier Aggressive Micro Cap Portfolio 113 shares 3,063 Navellier Large Cap Growth Fund 1,736 shares 37,730 Navellier Mid Cap Growth 5,725 shares 176,565 Nevis Fund 460 shares 12,211 Nicholas II Fund 211 shares 4,504 Northern Technology Fund 94 shares 1,796 Oakmark Select Fund 149 shares 3,216
-24- PHELPS DODGE EMPLOYEE SAVINGS PLAN SUPPLEMENTAL INFORMATION SCHEDULE OF ASSETS (HELD AT END OF YEAR) SCHEDULE I DECEMBER 31, 2000 - --------------------------------------------------------------------------------
DESCRIPTION OF INVESTMENT INCLUDING MATURITY DATE, RATE OF INTEREST, IDENTITY OF ISSUE, BORROWER, COLLATERAL, PAR OR MATURITY VALUE, OR LESSOR OR SIMILAR PARTY NUMBER OF SHARES COST ** CURRENT VALUE ----------------------- ---------------- ------- ------------- REGISTERED INVESTMENT COMPANIES: (CONTINUED) Payden & Rygel European Agressive Growth Fund 204 shares $ 3,069 PBHG Large Cap 20 Fund 376 shares 9,482 PBHG Large Cap Growth Fd 61 shares 1,788 PBHG Select Equity Fund 533 shares 21,958 PBHG Technology & Communications Fund 642 shares 22,113 Pin Oak Aggressive Stock Fund 156 shares 7,244 Profunds Ultraotc Fund 1,124 shares 25,652 Red Oak Technology Select Portfolio 640 shares 13,935 Reynolds Blue Chip Growth 21 shares 1,010 RS Emerging Growth Fund 689 shares 30,342 RS Internet Age Fund 853 shares 5,569 Safeco Growth Opportunities Fund 966 shares 21,541 Schwab 1000 Fund 93 shares 3,433 Schwab Market Track All Equity 161 shares 1,815 Schwab Market Track Balanced 125 shares 1,833 Schwab S&P 500 236 shares 4,795 Schwab Total Stock Market Inv 1,514 shares 31,032 Schwab Value Advantage Money Fund 1,043,380 shares 1,043,380 Scudder Balanced Fund 495 shares 9,531 Scudder Greater Europe Growth Fund 780 shares 24,216 Scudder Health Care Fund 233 shares 5,430 Spectra Fund 658 shares 5,570 SSgA Growth & Income Fund 1,170 shares 25,673 Strong Advisor Mid Cap Growth Class Z 73 shares 1,483 Strong American Utilities Fund 315 shares 5,508 T Rowe Price Emerging Markets Stock Fund 452 shares 5,167 T Rowe Price Intl Discovery Fund 125 shares 3,178 T Rowe Price Latin America Fund 905 shares 8,649 T Rowe Price Mid Cap Growth Fund 939 shares 37,370 T Rowe Price New Asia Fund 991 shares 6,841 T Rowe Price Small Cap Value Fund 466 shares 8,913 Third Avenue Value Fund 34 shares 1,232 Turner Midcap Fund 231 shares 7,079 Tweedy Browne Global Value Fund 112 shares 2,240 Value Line Asset Allocation Fund 344 shares 6,622 Van Wagoner Technology Fund 44 shares 1,842 Vanguard GNMA Fund 850 shares 8,700 Vanguard Gold & Precious Metals Fund 6,870 shares 52,073 Vanguard Short-Term Treasury Fund 1,133 shares 11,637 Warburg Pincus Global Telecommunications Fund 388 shares 16,363 Warburg Pincus Japan Growth Fund 279 shares 1,944 Warburg Pincus Japan Small Company Fund 270 shares 601 Weitz Value Portfolio 348 shares 12,270 White Oak Growth Stock Fund 122 shares 7,707
-25- PHELPS DODGE EMPLOYEE SAVINGS PLAN SUPPLEMENTAL INFORMATION SCHEDULE OF ASSETS (HELD AT END OF YEAR) SCHEDULE I DECEMBER 31, 2000 - --------------------------------------------------------------------------------
DESCRIPTION OF INVESTMENT INCLUDING MATURITY DATE, RATE OF INTEREST, IDENTITY OF ISSUE, BORROWER, COLLATERAL, PAR OR MATURITY VALUE, OR LESSOR OR SIMILAR PARTY NUMBER OF SHARES COST ** CURRENT VALUE ----------------------- ---------------- ------- ------------- REGISTERED INVESTMENT COMPANIES: (CONTINUED) AF Europacific Fund 480,600 shares $ 15,057,851 * J.P. Morgan Small Company Fund 1,180,220 shares 16,316,450 * American Century Equity Growth Fund 3,262,779 shares 71,051,433 * American Century Income & Growth Fund 1,822,742 shares 55,034,897 -------------- TOTAL REGISTERED INVESTMENT COMPANIES 170,120,009 EMPLOYER STOCK Phelps Dodge Corporation 892,561 shares 49,817,071 -------------- TOTAL EMPLOYER STOCK 49,817,071 PARTICIPANT LOANS Loans To Various Participants 8% - 12.5% maturing through 2015 19,142,223 -------------- TOTAL PARTICIPANT LOANS 19,142,223 OTHER ASSETS: A M B Property Corporation REIT 1,000 shares 25,813 First Industrial Realty Trust REIT 1,000 shares 34,000 Nasdaq 100 Shares Unit Ser. 1 360 shares 21,015 S P D R Trust Unit Sr 1 Expiring 1/22/2118 200 shares 26,238 Tokheim Corporation Ser C 06 Wt Warrants Exp 10/2 5,300 shares 2,226 Synthetic wrapper value Synthetic guaranteed investment contract 375,274 -------------- TOTAL OTHER ASSETS 484,566 -------------- TOTAL ASSETS HELD FOR INVESTMENT $ 353,462,449
* This is a related party to the Plan's Recordkeeper, a party-in-interest for which a statutory exemption exists. ** All investments are participant directed, therefore disclosure of cost is not required. See Report of Independent Accountants. -26- PHELPS DODGE EMPLOYEE SAVINGS PLAN SUPPLEMENTAL INFORMATION SCHEDULE OF REPORTABLE TRANSACTIONS SCHEDULE II YEAR ENDED DECEMBER 31, 2000 - -------------------------------------------------------------------------------
Current Expenses value on Identity of Description Purchase Selling Lease incurred with Cost of transaction party involved of asset price price Rental transaction asset date Net gain - -------------- -------- ----- ----- ------ ----------- ----- ---- -------- Phelps Dodge Corporation Stock $25,308,621 $ -- $ -- $ -- $25,308,621 $25,308,621 $ -- Phelps Dodge Corporation Stock 15,978,775 15,662,472 15,978,775 316,303
* Transactions or series of transactions in excess of 5 percent of the current value of the Plan assets as of December 31, 1999 as defined in Section 2520.103-6 of the Department of Labor Rules and Regulations for Reporting and Disclosure under ERISA. See Report of Independent Accountants. -27- EX-23 2 ex23.txt CONSENT OF PRICEWATERHOUSECOOPERS LLP Exhibit 23 CONSENT OF INDEPENDENT ACCOUNTANTS We hereby consent to the incorporation by reference in the Registration Statement on Form S-8 (No. 33-26442) of Phelps Dodge Corporation of our report dated June 21, 2001 relating to the financial statements of the Phelps Dodge Employee Savings Plan, which appears in this Form 11-K. /s/ PricewaterhouseCoopers LLP Phoenix, Arizona June 28, 2001 -----END PRIVACY-ENHANCED MESSAGE-----