XML 72 R55.htm IDEA: XBRL DOCUMENT v2.4.0.8
Business Segments (Unaudited) (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Dec. 31, 2012
Revenues:          
Unaffiliated customers $ 4,288 $ 4,475 $ 8,871 $ 9,080  
Intersegment 0 0 0 0  
Production and delivery 2,853 2,622 5,572 5,050  
Depreciation, depletion and amortization 530 291 859 558  
Selling, general and administrative expenses 186 97 299 201  
Mining exploration and research expenses 64 73 116 135  
Environmental obligations and shutdown costs 16 81 31 91  
Operating income (loss) 639 1,311 1,994 3,045  
Interest expense, net 132 43 189 106  
Provision for income taxes 40 422 468 913  
Capital expenditures 1,173 840 1,978 1,547  
Total assets 63,157 33,689 63,157 33,689 35,440
Sales from PT Freeport Indonesia to PT Smelting 291 368 721 957  
Net income tax benefit resulting from oil and gas acquisitions 183   183    
Mining Operations [Member]
         
Revenues:          
Unaffiliated customers 3,951 4,473 8,532 9,076  
Intersegment 0 0 0 0  
Production and delivery 2,759 2,621 5,475 5,050  
Depreciation, depletion and amortization 358 289 685 554  
Selling, general and administrative expenses 47 39 92 86  
Mining exploration and research expenses 61 73 110 135  
Environmental obligations and shutdown costs 16 81 31 91  
Operating income (loss) 710 1,370 2,139 3,160  
Interest expense, net 41 27 68 56  
Provision for income taxes 145 299 460 718  
Capital expenditures 973 840 1,770 1,556  
Total assets 35,061 31,234 35,061 31,234  
North America Copper Mines [Member]
         
Revenues:          
Unaffiliated customers 114 100 239 129  
Intersegment 1,195 1,328 2,455 2,753  
Production and delivery 853 762 1,652 1,447  
Depreciation, depletion and amortization 108 93 210 186  
Selling, general and administrative expenses 2 1 3 2  
Mining exploration and research expenses 1 0 1 0  
Environmental obligations and shutdown costs (2) 0 (6) 0  
Operating income (loss) 347 572 834 1,247  
Interest expense, net 3 0 4 0  
Provision for income taxes 0 0 0 0  
Capital expenditures 286 154 543 296  
Total assets 8,498 7,366 8,498 7,366  
Morenci [Member]
         
Revenues:          
Unaffiliated customers 38 105 118 118  
Intersegment 444 405 880 918  
Production and delivery 301 279 598 535  
Depreciation, depletion and amortization 37 33 70 64  
Selling, general and administrative expenses 1 1 1 1  
Mining exploration and research expenses 0 0 0 0  
Environmental obligations and shutdown costs 0 0 0 0  
Operating income (loss) 143 197 329 436  
Interest expense, net 2 0 3 0  
Provision for income taxes 0 0 0 0  
Capital expenditures 204 52 357 96  
Total assets 2,730 2,135 2,730 2,135  
Other North America Copper Mines [Member]
         
Revenues:          
Unaffiliated customers 76 (5) 121 11  
Intersegment 751 923 1,575 1,835  
Production and delivery 552 483 1,054 912  
Depreciation, depletion and amortization 71 60 140 122  
Selling, general and administrative expenses 1 0 2 1  
Mining exploration and research expenses 1 0 1 0  
Environmental obligations and shutdown costs (2) 0 (6) 0  
Operating income (loss) 204 375 505 811  
Interest expense, net 1 0 1 0  
Provision for income taxes 0 0 0 0  
Capital expenditures 82 102 186 200  
Total assets 5,768 5,231 5,768 5,231  
South America Mines [Member]
         
Revenues:          
Unaffiliated customers 764 878 1,614 1,853  
Intersegment 187 138 351 417  
Production and delivery 516 490 991 953  
Depreciation, depletion and amortization 86 72 157 134  
Selling, general and administrative expenses 2 1 3 3  
Mining exploration and research expenses 0 0 0 0  
Environmental obligations and shutdown costs 0 0 0 0  
Operating income (loss) 347 453 814 1,180  
Interest expense, net 2 0 2 5  
Provision for income taxes 127 151 278 391  
Capital expenditures 244 240 470 392  
Total assets 10,199 9,553 10,199 9,553  
Cerro Verde [Member]
         
Revenues:          
Unaffiliated customers 311 332 601 781  
Intersegment 86 151 195 278  
Production and delivery 189 185 360 378  
Depreciation, depletion and amortization 37 33 70 63  
Selling, general and administrative expenses 2 0 2 1  
Mining exploration and research expenses 0 0 0 0  
Environmental obligations and shutdown costs 0 0 0 0  
Operating income (loss) 169 265 364 617  
Interest expense, net 2 0 2 5  
Provision for income taxes 59 96 123 219  
Capital expenditures 208 116 372 185  
Total assets 6,089 5,472 6,089 5,472  
Other South America Mines [Member]
         
Revenues:          
Unaffiliated customers 453 546 1,013 1,072  
Intersegment 101 (13) 156 139  
Production and delivery 327 305 631 575  
Depreciation, depletion and amortization 49 39 87 71  
Selling, general and administrative expenses 0 1 1 2  
Mining exploration and research expenses 0 0 0 0  
Environmental obligations and shutdown costs 0 0 0 0  
Operating income (loss) 178 188 450 563  
Interest expense, net 0 0 0 0  
Provision for income taxes 68 55 155 172  
Capital expenditures 36 124 98 207  
Total assets 4,110 4,081 4,110 4,081  
Indonesia - Grasberg [Member]
         
Revenues:          
Unaffiliated customers 471 [1] 875 [1] 1,335 [2] 1,828 [2]  
Intersegment 120 81 187 78  
Production and delivery 563 586 1,126 1,101  
Depreciation, depletion and amortization 58 53 113 99  
Selling, general and administrative expenses 27 27 53 60  
Mining exploration and research expenses 0 0 0 0  
Environmental obligations and shutdown costs 0 0 0 0  
Operating income (loss) (57) 290 230 646  
Interest expense, net 10 3 12 3  
Provision for income taxes (4) 126 116 276  
Capital expenditures 320 205 511 387  
Total assets 7,095 5,883 7,095 5,883  
Africa - Tenke [Member]
         
Revenues:          
Unaffiliated customers 355 317 793 620  
Intersegment 10 5 10 7  
Production and delivery 185 152 370 284  
Depreciation, depletion and amortization 57 40 115 72  
Selling, general and administrative expenses 3 1 6 3  
Mining exploration and research expenses 0 0 0 0  
Environmental obligations and shutdown costs 0 0 0 0  
Operating income (loss) 120 129 312 268  
Interest expense, net 2 0 2 0  
Provision for income taxes 22 22 66 51  
Capital expenditures 46 170 103 297  
Total assets 4,887 4,318 4,887 4,318  
Molybdenum mines [Member]
         
Revenues:          
Unaffiliated customers 0 0 0 0  
Intersegment 144 134 287 260  
Production and delivery 78 79 158 149  
Depreciation, depletion and amortization 21 12 41 23  
Selling, general and administrative expenses 0 0 0 0  
Mining exploration and research expenses 0 0 0 0  
Environmental obligations and shutdown costs 0 0 0 0  
Operating income (loss) 45 43 88 88  
Interest expense, net 0 0 0 0  
Provision for income taxes 0 0 0 0  
Capital expenditures 42 55 82 148  
Total assets 2,061 1,933 2,061 1,933  
Rod & Refining [Member]
         
Revenues:          
Unaffiliated customers 1,265 1,283 2,595 2,581  
Intersegment 7 7 14 13  
Production and delivery 1,262 1,281 2,590 2,578  
Depreciation, depletion and amortization 2 3 5 5  
Selling, general and administrative expenses 0 0 0 0  
Mining exploration and research expenses 0 0 0 0  
Environmental obligations and shutdown costs 0 0 0 0  
Operating income (loss) 8 6 14 11  
Interest expense, net 0 0 0 0  
Provision for income taxes 0 0 0 0  
Capital expenditures 1 0 2 3  
Total assets 287 327 287 327  
Atlantic Copper Smelting & Refining [Member]
         
Revenues:          
Unaffiliated customers 583 686 1,216 1,390  
Intersegment 4 9 10 17  
Production and delivery 575 669 1,203 1,364  
Depreciation, depletion and amortization 12 10 22 20  
Selling, general and administrative expenses 4 5 9 10  
Mining exploration and research expenses 0 0 0 0  
Environmental obligations and shutdown costs 0 0 0 0  
Operating income (loss) (4) 11 (8) 13  
Interest expense, net 4 3 8 6  
Provision for income taxes 0 0 0 0  
Capital expenditures 11 4 19 7  
Total assets 934 990 934 990  
Other Mining & Eliminations [Member]
         
Revenues:          
Unaffiliated customers 399 [3] 334 [3] 740 [3] 675 [3]  
Intersegment (1,667) (1,702) (3,314) (3,545)  
Production and delivery (1,273) (1,398) (2,615) (2,826)  
Depreciation, depletion and amortization 14 6 22 15  
Selling, general and administrative expenses 9 4 18 8  
Mining exploration and research expenses 60 73 109 135  
Environmental obligations and shutdown costs 18 81 37 91  
Operating income (loss) (96) (134) (145) (293)  
Interest expense, net 20 21 40 42  
Provision for income taxes 0 0 0 0  
Capital expenditures 23 12 40 26  
Total assets 1,100 864 1,100 864  
Oil & Gas Operations [Member]
         
Revenues:          
Unaffiliated customers 336 [4] 0 336 [4] 0  
Intersegment 0 0 0 0  
Production and delivery 89 0 89 0  
Depreciation, depletion and amortization 169 0 169 0  
Selling, general and administrative expenses 14 0 14 0  
Mining exploration and research expenses 0 0 0 0  
Environmental obligations and shutdown costs 0 0 0    
Operating income (loss) 64 0 64 0  
Interest expense, net 26 0 26 0  
Provision for income taxes 0 0 0 0  
Capital expenditures 190 0 190 0  
Total assets 26,587 0 26,587 0  
Corporate, Other & Eliminations [Member]
         
Revenues:          
Unaffiliated customers 1 2 3 4  
Intersegment 0 0 0 0  
Production and delivery 5 1 8 0  
Depreciation, depletion and amortization 3 2 5 4  
Selling, general and administrative expenses 125 58 193 115  
Mining exploration and research expenses 3 0 6 0  
Environmental obligations and shutdown costs 0 0 0 0  
Operating income (loss) (135) (59) (209) (115)  
Interest expense, net 65 16 95 50  
Provision for income taxes (105) [5] 123 8 [5] 195  
Capital expenditures 10 0 18 (9)  
Total assets 1,509 2,455 1,509 2,455  
PT Smelting [Member]
         
Segment Reporting Information [Line Items]          
Deferred Intercompany Profit, Percentage     25.00%    
Crude Oil and Natural Gas Swaps [Member]
         
Revenues:          
Unfavorable adjustments to derivative instruments $ 35 [6]   $ 35 [6]    
[1] Included PT Freeport Indonesia’s sales to PT Smelting totaling $291 million in second-quarter 2013 and $368 million in second-quarter 2012.
[2] Included PT Freeport Indonesia’s sales to PT Smelting totaling $721 million for the first six months of 2013 and $957 million for the first six months of 2012.
[3] Included revenues from FCX's molybdenum sales company, which included sales of molybdenum produced by the molybdenum mines and by certain of the North and South America copper mines.
[4] Included unfavorable adjustments of $35 million related to oil and gas derivative instruments. For further discussion, refer to Note 9.
[5] Included $183 million of net benefits resulting from second-quarter 2013 oil and gas acquisitions.
[6] Amounts recorded in revenues.