2013 Q2 Form 10-Q Financial Statement

#000083125913000057 Filed on August 09, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $4.288B $4.475B
YoY Change -4.18% -23.03%
Cost Of Revenue $3.383B $2.913B
YoY Change 16.13% 3.15%
Gross Profit $905.0M $1.562B
YoY Change -42.06% -47.76%
Gross Profit Margin 21.11% 34.91%
Selling, General & Admin $186.0M $97.00M
YoY Change 91.75% -9.35%
% of Gross Profit 20.55% 6.21%
Research & Development $64.00M $73.00M
YoY Change -12.33% 10.61%
% of Gross Profit 7.07% 4.67%
Depreciation & Amortization $530.0M $291.0M
YoY Change 82.13% 8.99%
% of Gross Profit 58.56% 18.63%
Operating Expenses $186.0M $97.00M
YoY Change 91.75% -9.35%
Operating Profit $639.0M $1.311B
YoY Change -51.26% -52.45%
Interest Expense -$4.000M -$43.00M
YoY Change -90.7% -158.11%
% of Operating Profit -0.63% -3.28%
Other Income/Expense, Net $13.00M $51.00M
YoY Change -74.51% 2450.0%
Pretax Income $648.0M $1.319B
YoY Change -50.87% -49.73%
Income Tax $40.00M $422.0M
% Of Pretax Income 6.17% 31.99%
Net Earnings $610.0M $894.0M
YoY Change -31.77% -48.2%
Net Earnings / Revenue 14.23% 19.98%
Basic Earnings Per Share $0.49 $0.75
Diluted Earnings Per Share $0.49 $0.74
COMMON SHARES
Basic Shares Outstanding 980.0M shares 949.0M shares
Diluted Shares Outstanding 984.0M shares 953.0M shares

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.294B $4.508B
YoY Change -26.93% 2.97%
Cash & Equivalents $3.294B $4.508B
Short-Term Investments
Other Short-Term Assets $459.0M $328.0M
YoY Change 39.94% 25.19%
Inventory $4.946B $4.025B
Prepaid Expenses
Receivables $1.244B $1.052B
Other Receivables $635.0M $263.0M
Total Short-Term Assets $10.58B $10.18B
YoY Change 3.95% 0.03%
LONG-TERM ASSETS
Property, Plant & Equipment $46.21B $19.61B
YoY Change 135.63% 12.07%
Goodwill $1.932B
YoY Change
Intangibles $324.0M
YoY Change 0.31%
Long-Term Investments
YoY Change
Other Assets $2.269B $868.0M
YoY Change 161.41% -18.11%
Total Long-Term Assets $52.58B $23.51B
YoY Change 123.62% 15.23%
TOTAL ASSETS
Total Short-Term Assets $10.58B $10.18B
Total Long-Term Assets $52.58B $23.51B
Total Assets $63.16B $33.69B
YoY Change 87.47% 10.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.771B $2.364B
YoY Change 59.52% 0.9%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $73.00M $4.000M
YoY Change 1725.0% -20.0%
Total Short-Term Liabilities $5.610B $2.942B
YoY Change 90.69% -5.28%
LONG-TERM LIABILITIES
Long-Term Debt $21.14B $3.519B
YoY Change 500.8% -0.51%
Other Long-Term Liabilities $1.810B $1.553B
YoY Change 16.55% 7.4%
Total Long-Term Liabilities $22.95B $5.072B
YoY Change 352.52% 1.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.610B $2.942B
Total Long-Term Liabilities $22.95B $5.072B
Total Liabilities $38.51B $13.80B
YoY Change 179.06% 2.39%
SHAREHOLDERS EQUITY
Retained Earnings $1.865B $1.426B
YoY Change 30.79% -312.2%
Common Stock $117.0M $107.0M
YoY Change 9.35% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.681B $3.575B
YoY Change 2.97% 0.62%
Treasury Stock Shares
Shareholders Equity $19.88B $16.58B
YoY Change
Total Liabilities & Shareholders Equity $63.16B $33.69B
YoY Change 87.47% 10.17%

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income $610.0M $894.0M
YoY Change -31.77% -48.2%
Depreciation, Depletion And Amortization $530.0M $291.0M
YoY Change 82.13% 8.99%
Cash From Operating Activities $1.034B $1.182B
YoY Change -12.52% -29.64%
INVESTING ACTIVITIES
Capital Expenditures -$1.206B -$850.0M
YoY Change 41.88% 61.29%
Acquisitions
YoY Change
Other Investing Activities -$5.338B $13.00M
YoY Change -41161.54% -31.58%
Cash From Investing Activities -$6.544B -$837.0M
YoY Change 681.84% 64.76%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -791.0M -333.0M
YoY Change 137.54% -62.33%
NET CHANGE
Cash From Operating Activities 1.034B 1.182B
Cash From Investing Activities -6.544B -837.0M
Cash From Financing Activities -791.0M -333.0M
Net Change In Cash -6.301B 12.00M
YoY Change -52608.33% -95.83%
FREE CASH FLOW
Cash From Operating Activities $1.034B $1.182B
Capital Expenditures -$1.206B -$850.0M
Free Cash Flow $2.240B $2.032B
YoY Change 10.24% -7.93%

Facts In Submission

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Use of Estimates.</font><font style="font-family:Arial;font-size:10pt;"> As a result of the acquisition of PXP and MMR, other significant areas requiring the use of management estimates include oil and natural gas reserve estimation; timing of transfers of oil and gas properties not subject to amortization into the full cost pool; determination of fair value of assets acquired, liabilities assumed and noncontrolling interest, and recognition of goodwill and deferred taxes in connection with business combinations; and valuation of derivative instruments. Actual results could differ from those estimates. In particular, initial estimates of acquisition fair values are preliminary and subject to change as the related valuations are finalized.</font></div></div>
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fcx Net Proceeds Payments From Share Based Awards
NetProceedsPaymentsFromShareBasedAwards
-103000000 USD
fcx Noncontrolling Interest Decreasefrom Other Distributionsto Noncontrolling Interest Holders
NoncontrollingInterestDecreasefromOtherDistributionstoNoncontrollingInterestHolders
0 USD
fcx North America Capital Expenditures
NorthAmericaCapitalExpenditures
543000000 USD
fcx North America Capital Expenditures
NorthAmericaCapitalExpenditures
296000000 USD
fcx North America Oiland Gas Capital Expenditures
NorthAmericaOilandGasCapitalExpenditures
190000000 USD
fcx North America Oiland Gas Capital Expenditures
NorthAmericaOilandGasCapitalExpenditures
0 USD
CY2013Q2 fcx Outstanding Stock Options With Exercise Prices Greater Than Average Market Price Of Common Stock
OutstandingStockOptionsWithExercisePricesGreaterThanAverageMarketPriceOfCommonStock
32000000 shares
fcx Outstanding Stock Options With Exercise Prices Greater Than Average Market Price Of Common Stock
OutstandingStockOptionsWithExercisePricesGreaterThanAverageMarketPriceOfCommonStock
17000000 shares
CY2012Q2 fcx Outstanding Stock Options With Exercise Prices Greater Than Average Market Price Of Common Stock
OutstandingStockOptionsWithExercisePricesGreaterThanAverageMarketPriceOfCommonStock
25000000 shares
fcx Outstanding Stock Options With Exercise Prices Greater Than Average Market Price Of Common Stock
OutstandingStockOptionsWithExercisePricesGreaterThanAverageMarketPriceOfCommonStock
30000000 shares
CY2012Q4 fcx Paid To Brokers Associated With Margin Requirements
PaidToBrokersAssociatedWithMarginRequirements
7000000 USD
CY2013Q2 fcx Paid To Brokers Associated With Margin Requirements
PaidToBrokersAssociatedWithMarginRequirements
20000000 USD
fcx Payments Of Reclamation And Environmental Obligations
PaymentsOfReclamationAndEnvironmentalObligations
91000000 USD
fcx Payments Of Reclamation And Environmental Obligations
PaymentsOfReclamationAndEnvironmentalObligations
98000000 USD
fcx Paymentsto Acquire Businesses Netof Cash Acquired1
PaymentstoAcquireBusinessesNetofCashAcquired1
0 USD
fcx Paymentsto Acquire Businesses Netof Cash Acquired1
PaymentstoAcquireBusinessesNetofCashAcquired1
1628000000 USD
fcx Paymentsto Acquire Businesses Netof Cash Acquired2
PaymentstoAcquireBusinessesNetofCashAcquired2
3465000000 USD
fcx Paymentsto Acquire Businesses Netof Cash Acquired2
PaymentstoAcquireBusinessesNetofCashAcquired2
0 USD
fcx Paymentsto Acquire Businesses Netof Cash Acquired3
PaymentstoAcquireBusinessesNetofCashAcquired3
321000000 USD
fcx Paymentsto Acquire Businesses Netof Cash Acquired3
PaymentstoAcquireBusinessesNetofCashAcquired3
0 USD
fcx Proceedsfrom Issuanceof Longterm Debt Debt Assumedand Other Borrowings
ProceedsfromIssuanceofLongtermDebtDebtAssumedandOtherBorrowings
25756000000 USD
CY2013Q2 fcx Product
Product
1508000000 USD
CY2012Q4 fcx Product
Product
1400000000 USD
fcx Production And Delivery
ProductionAndDelivery
5572000000 USD
fcx Production And Delivery
ProductionAndDelivery
5050000000 USD
CY2013Q2 fcx Production And Delivery
ProductionAndDelivery
2853000000 USD
CY2012Q2 fcx Production And Delivery
ProductionAndDelivery
2622000000 USD
CY2012Q4 fcx Reclamation And Environmental Obligations Less Current Portion
ReclamationAndEnvironmentalObligationsLessCurrentPortion
2127000000 USD
CY2013Q2 fcx Reclamation And Environmental Obligations Less Current Portion
ReclamationAndEnvironmentalObligationsLessCurrentPortion
3106000000 USD
CY2013Q2 fcx Royalty Trust Units Fair Value Disclosure
RoyaltyTrustUnitsFairValueDisclosure
27000000 USD
fcx Segment Reporting Information Intersegment Revenue Indonesia
SegmentReportingInformationIntersegmentRevenueIndonesia
957000000 USD
fcx Segment Reporting Information Intersegment Revenue Indonesia
SegmentReportingInformationIntersegmentRevenueIndonesia
721000000 USD
CY2012Q2 fcx Segment Reporting Information Intersegment Revenue Indonesia
SegmentReportingInformationIntersegmentRevenueIndonesia
368000000 USD
CY2013Q2 fcx Segment Reporting Information Intersegment Revenue Indonesia
SegmentReportingInformationIntersegmentRevenueIndonesia
291000000 USD
fcx South American Capital Expenditures
SouthAmericanCapitalExpenditures
470000000 USD
fcx South American Capital Expenditures
SouthAmericanCapitalExpenditures
392000000 USD
fcx Tender Of Shares For Stock Based Awards Value
TenderOfSharesForStockBasedAwardsValue
-105000000 USD
fcx Threshholdfor Determining Accounting Treatmentfor Oiland Gas Dispositions
ThreshholdforDeterminingAccountingTreatmentforOilandGasDispositions
0.25
fcx Weighted Average Exercise Price Of Outstanding Stock Options
WeightedAverageExercisePriceOfOutstandingStockOptions
44.73
CY2012Q2 fcx Weighted Average Exercise Price Of Outstanding Stock Options
WeightedAverageExercisePriceOfOutstandingStockOptions
42.53
CY2013Q2 fcx Weighted Average Exercise Price Of Outstanding Stock Options
WeightedAverageExercisePriceOfOutstandingStockOptions
40.53
fcx Weighted Average Exercise Price Of Outstanding Stock Options
WeightedAverageExercisePriceOfOutstandingStockOptions
40.92
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Period End Date
DocumentPeriodEndDate
2013-06-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000831259
CY2013Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
1037879851 shares
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2012Q2 dei Entity Public Float
EntityPublicFloat
32100000000 USD
dei Entity Registrant Name
EntityRegistrantName
FREEPORT MCMORAN COPPER & GOLD INC
dei Entity Voluntary Filers
EntityVoluntaryFilers
No
dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes

Files In Submission

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0000831259-13-000057-index.html Edgar Link pending
0000831259-13-000057.txt Edgar Link pending
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