$FCX
FREEPORT-MCMORAN INC

2009 Q3 Form 10-Q Financial Statement

#000083125909000098 Filed on November 06, 2009

View on sec.gov

Income Statement

Concept 2009 Q3 2008 Q4 2008 Q3
Revenue $4.144B $2.067B $4.616B
YoY Change -10.23% -50.6% -8.88%
Cost Of Revenue $1.967B $3.342B $3.316B
YoY Change -40.68% 18.43% 9.87%
Gross Profit $2.177B -$1.275B $1.300B
YoY Change 67.46% -193.61% -36.52%
Gross Profit Margin 52.53% -61.68% 28.16%
Selling, General & Admin $74.00M -$31.00M $90.00M
YoY Change -17.78% -120.39% -31.3%
% of Gross Profit 3.4% 6.92%
Research & Development $19.00M $83.00M $77.00M
YoY Change -75.32% 43.1% 92.5%
% of Gross Profit 0.87% 5.92%
Depreciation & Amortization $269.0M $490.0M $445.0M
YoY Change -39.55% 33.51% 20.6%
% of Gross Profit 12.36% 34.23%
Operating Expenses $74.00M $52.00M $90.00M
YoY Change -17.78% -75.24% -47.37%
Operating Profit $2.084B -$1.327B $1.133B
YoY Change 83.94% -215.19% -39.64%
Interest Expense -$162.0M -$140.0M -$139.0M
YoY Change 16.55% 14.75% -7.33%
% of Operating Profit -7.77% -12.27%
Other Income/Expense, Net -$7.000M -$19.00M -$14.00M
YoY Change -50.0% -140.43% -129.17%
Pretax Income $1.884B -$18.45B $980.0M
YoY Change 92.24% -1816.37% -45.13%
Income Tax $684.0M -$4.471B $240.0M
% Of Pretax Income 36.31% 24.49%
Net Earnings $1.203B -$13.85B $742.0M
YoY Change 62.13% -2997.49% -11.46%
Net Earnings / Revenue 29.03% -670.05% 16.07%
Basic Earnings Per Share $2.23 $1.37
Diluted Earnings Per Share $1.04 -$18.27M $1.31
COMMON SHARES
Basic Shares Outstanding 416.0M 382.0M
Diluted Shares Outstanding 472.0M 447.0M

Balance Sheet

Concept 2009 Q3 2008 Q4 2008 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.269B $872.0M $1.202B
YoY Change 88.77% -46.37% -49.43%
Cash & Equivalents $2.269B $872.0M $1.202B
Short-Term Investments
Other Short-Term Assets $365.0M $386.0M $153.0M
YoY Change 138.56% 297.94% -88.94%
Inventory $2.916B $2.763B $3.430B
Prepaid Expenses
Receivables $1.292B $374.0M $1.236B
Other Receivables $564.0M $838.0M $427.0M
Total Short-Term Assets $7.406B $5.233B $6.448B
YoY Change 14.86% -11.35% -25.66%
LONG-TERM ASSETS
Property, Plant & Equipment $16.08B $16.00B $26.48B
YoY Change -39.3% -37.77% 10.25%
Goodwill
YoY Change
Intangibles $342.0M $364.0M
YoY Change
Long-Term Investments
YoY Change
Other Assets $448.0M $467.0M $2.581B
YoY Change -82.64% -81.06% 9.23%
Total Long-Term Assets $18.30B $18.12B $35.56B
YoY Change -48.54% -47.87% 8.69%
TOTAL ASSETS
Total Short-Term Assets $7.406B $5.233B $6.448B
Total Long-Term Assets $18.30B $18.12B $35.56B
Total Assets $25.71B $23.35B $42.01B
YoY Change -38.81% -42.57% 1.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.986B $2.722B $2.739B
YoY Change -27.49% 16.08% -2.67%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $44.00M $67.00M $23.00M
YoY Change 91.3% 116.13% -65.67%
Total Short-Term Liabilities $3.157B $3.158B $3.540B
YoY Change -10.82% -18.38% -26.3%
LONG-TERM LIABILITIES
Long-Term Debt $6.578B $7.284B $7.186B
YoY Change -8.46% 1.45% -17.07%
Other Long-Term Liabilities $1.370B $1.520B $3.067B
YoY Change -55.33% -46.46% 105.56%
Total Long-Term Liabilities $7.948B $8.804B $10.25B
YoY Change -22.48% -12.13% 0.95%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.157B $3.158B $3.540B
Total Long-Term Liabilities $7.948B $8.804B $10.25B
Total Liabilities $15.77B $16.25B $21.98B
YoY Change -28.25% -27.53% -6.37%
SHAREHOLDERS EQUITY
Retained Earnings -$6.711B -$8.267B
YoY Change
Common Stock $55.00M $51.00M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.413B $3.402B
YoY Change
Treasury Stock Shares
Shareholders Equity $8.209B $5.773B $20.03B
YoY Change
Total Liabilities & Shareholders Equity $25.71B $23.35B $42.01B
YoY Change -38.81% -42.57% 1.49%

Cashflow Statement

Concept 2009 Q3 2008 Q4 2008 Q3
OPERATING ACTIVITIES
Net Income $1.203B -$13.85B $742.0M
YoY Change 62.13% -2997.49% -11.46%
Depreciation, Depletion And Amortization $269.0M $490.0M $445.0M
YoY Change -39.55% 33.51% 20.6%
Cash From Operating Activities $1.954B $201.0M $1.545B
YoY Change 26.47% -85.53% -25.93%
INVESTING ACTIVITIES
Capital Expenditures -$243.0M -$779.0M -$766.0M
YoY Change -68.28% 26.26% 64.38%
Acquisitions
YoY Change
Other Investing Activities -$8.000M $332.0M $3.000M
YoY Change -366.67% -54.02% -125.0%
Cash From Investing Activities -$251.0M -$447.0M -$763.0M
YoY Change -67.1% -525.71% 59.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -753.0M -84.00M -1.228B
YoY Change -38.68% -96.26% -6.19%
NET CHANGE
Cash From Operating Activities 1.954B 201.0M 1.545B
Cash From Investing Activities -251.0M -447.0M -763.0M
Cash From Financing Activities -753.0M -84.00M -1.228B
Net Change In Cash 950.0M -330.0M -446.0M
YoY Change -313.0% -56.06% -249.16%
FREE CASH FLOW
Cash From Operating Activities $1.954B $201.0M $1.545B
Capital Expenditures -$243.0M -$779.0M -$766.0M
Free Cash Flow $2.197B $980.0M $2.311B
YoY Change -4.93% -51.15% -9.44%

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CY2008Q4 us-gaap Additional Paid In Capital
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CY2009Q3 us-gaap Common Stock Value
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CY2008Q4 us-gaap Common Stock Value
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CY2009Q3 fcx Mandatory Convertible Preferred Stock
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CY2008Q4 fcx Mandatory Convertible Preferred Stock
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fcx Indonesia Capital Expenditures
IndonesiaCapitalExpenditures
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fcx Indonesia Capital Expenditures
IndonesiaCapitalExpenditures
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CY2009Q3 us-gaap Restructuring Charges
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CY2008Q3 us-gaap Restructuring Charges
RestructuringCharges
0
us-gaap Restructuring Charges
RestructuringCharges
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CY2009Q3 fcx Long Term Mill And Leach Stockpiles
LongTermMillAndLeachStockpiles
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CY2009Q3 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
390000000
CY2008Q4 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
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us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
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us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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fcx Changes In Other Assets And Liabilities
ChangesInOtherAssetsAndLiabilities
136000000
fcx Changes In Other Assets And Liabilities
ChangesInOtherAssetsAndLiabilities
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CY2009Q3 us-gaap Treasury Stock Value
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CY2008Q4 us-gaap Treasury Stock Value
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fcx Production And Delivery
ProductionAndDelivery
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CY2009Q3 fcx Product Inventories And Materials And Supplies Net
ProductInventoriesAndMaterialsAndSuppliesNet
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CY2008Q4 fcx Product Inventories And Materials And Supplies Net
ProductInventoriesAndMaterialsAndSuppliesNet
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CY2009Q3 fcx Other Accounts Receivable
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CY2008Q4 fcx Other Accounts Receivable
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fcx Tender Of Shares For Stock Based Awards
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us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
3000000
CY2009Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
925000000
CY2008Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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CY2009Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
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CY2008Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
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us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
21000000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
16000000
CY2009Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
1884000000
CY2008Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
980000000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
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us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
5142000000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
0
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
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us-gaap Increase Decrease In Accrued Income Taxes Payable
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913000000
us-gaap Increase Decrease In Accrued Income Taxes Payable
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CY2009Q3 us-gaap Profit Loss
ProfitLoss
1203000000
CY2008Q3 us-gaap Profit Loss
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us-gaap Profit Loss
ProfitLoss
2222000000
us-gaap Profit Loss
ProfitLoss
3531000000
CY2009Q3 us-gaap Inventory Write Down
InventoryWriteDown
0
CY2008Q3 us-gaap Inventory Write Down
InventoryWriteDown
17000000
us-gaap Inventory Write Down
InventoryWriteDown
19000000
us-gaap Inventory Write Down
InventoryWriteDown
22000000
CY2009Q3 us-gaap Senior Long Term Notes
SeniorLongTermNotes
6350000000
CY2008Q4 us-gaap Senior Long Term Notes
SeniorLongTermNotes
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CY2009Q3 us-gaap Debt Current
DebtCurrent
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CY2008Q4 us-gaap Debt Current
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CY2009Q3 us-gaap Assets
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CY2008Q4 us-gaap Assets
Assets
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CY2009Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
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CY2008Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-31000000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
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CY2009Q3 fcx Revenues Goods And Services
RevenuesGoodsAndServices
4144000000
CY2008Q3 fcx Revenues Goods And Services
RevenuesGoodsAndServices
4616000000
fcx Revenues Goods And Services
RevenuesGoodsAndServices
10430000000
fcx Revenues Goods And Services
RevenuesGoodsAndServices
15729000000
CY2009Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
25705000000
CY2008Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
23353000000
CY2008Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
364000000
CY2009Q3 fcx Mill And Leach Stockpiles
MillAndLeachStockpiles
602000000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
8000000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
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CY2009Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
684000000
CY2008Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
240000000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1557000000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1627000000
CY2009Q3 fcx Production And Delivery
ProductionAndDelivery
1715000000
CY2008Q3 fcx Production And Delivery
ProductionAndDelivery
2857000000
fcx Production And Delivery
ProductionAndDelivery
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CY2009Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
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CY2008Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
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CY2009Q3 us-gaap Deferred Tax Liabilities Noncurrent
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2660000000
CY2008Q4 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
2339000000
CY2009Q3 us-gaap Liabilities Current
LiabilitiesCurrent
3157000000
CY2008Q4 us-gaap Liabilities Current
LiabilitiesCurrent
3158000000

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