Business Segments



(In millions)	Mining Operations
	North America Copper Mines								South America								Indonesia				Africa
																											Atlantic			Other									Corporate,
																							Molyb-				Copper			Mining						U.S.			Other
			Other						Cerro		Candel-		Other										denum		Rod &		Smelting			& Elimi-				Total		Oil & Gas			& Elimi-				FCX
	Morenci		Mines			Total			Verde		aria		Mines		Total		Grasberg				Tenke		Mines		Refining		& Refining			nations				Mining		Operations			nations				Total
Three Months Ended June 30, 2014
Revenues:
Unaffiliated customers	$	52	$	55		$	107		$	421	$	213	$	311	$	945	$	523		^a	$	386	$	—	$	1,234	$	623		$	468		^b	$	4,286	$	1,236	^c	$	—			$	5,522
Intersegment	474		888			1,362			23		62		1		86		—				32		170		8		6			(1,664		)		—		—			—				—
Production and delivery	312		558			870			195		164		171		530		511				198		81		1,233		618			(1,287		)		2,754		329			(1		)		3,082
Depreciation, depletion and amortization	43		85			128			43		16		36		95		54				63		24		3		10			17				394		616			3				1,013
Selling, general and administrative expenses	1		—			1			1		1		—		2		25				3		—		—		5			6				42		59			63				164
Mining exploration and research expenses	—		2			2			—		—		—		—		—				—		—		—		—			32				34		—			—				34
Environmental obligations and shutdown costs	—		—			—			—		—		—		—		—				—		—		—		—			76				76		—			—				76
Operating income (loss)	170		298			468			205		94		105		404		(67		)		154		65		6		(4		)	(40		)		986		232			(65		)		1,153

Interest expense, net	—		1			1			—		—		—		—		—				—		—		—		3			18				22		74			68				164
Provision for income taxes	—		—			—			73		32		35		140		(33		)		33		—		—		—			—				140		—			188				328
Total assets at June 30, 2014	3,675		5,822			9,497			6,901		1,520		2,271		10,692		7,972				4,952		2,095		299		882			1,127				37,516		25,293			1,200				64,009
Capital expenditures	289		35			324			391		12		13		416		243				29		14		1		5			17				1,049		903			(2		)		1,950

Three Months Ended June 30, 2013
Revenues:
Unaffiliated customers	$	38	$	76		$	114		$	311	$	138	$	315	$	764	$	471		^a	$	355	$	—	$	1,265	$	583		$	399		^b	$	3,951	$	336	^c	$	1			$	4,288
Intersegment	444		751			1,195			86		101		—		187		120				10		144		7		4			(1,667		)		—		—			—				—
Production and delivery	301		552			853			189		174		153		516		563				185		78		1,262		575			(1,273		)		2,759		89			5				2,853
Depreciation, depletion and amortization	37		71			108			37		16		33		86		58				57		21		2		12			14				358		169			3				530
Selling, general and administrative expenses	1		1			2			2		—		—		2		27				3		—		—		4			9				47		14			125				186
Mining exploration and research expenses	—		1			1			—		—		—		—		—				—		—		—		—			60				61		—			3				64
Environmental obligations and shutdown costs	—		(2		)	(2		)	—		—		—		—		—				—		—		—		—			18				16		—			—				16
Operating income (loss)	143		204			347			169		49		129		347		(57		)		120		45		8		(4		)	(96		)		710		64			(135		)		639

Interest expense, net	2		1			3			2		—		—		2		10				2		—		—		4			20				41		26			65				132
Provision for income taxes	—		—			—			59		20		48		127		(4		)		22		—		—		—			—				145		—			(105		)	^d	40
Total assets at June 30, 2013	2,730		5,768			8,498			6,089		1,623		2,487		10,199		7,095				4,887		2,061		287		934			1,100				35,061		26,587			1,509				63,157
Capital expenditures	204		82			286			208		28		8		244		320				46		42		1		11			23				973		190			10				1,173


a.	Included PT-FI’s sales to PT Smelting totaling $540 million in second-quarter 2014 and $291 million in second-quarter 2013.


b.	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.


c.	Included net mark-to-market losses associated with crude oil and natural gas derivative contracts totaling $70 million in second-quarter 2014 and $35 million for the period from June 1, 2013, to June 30, 2013.


d.	Included $183 million of net benefits resulting from oil and gas acquisitions.




(In millions)	Mining Operations
	North America Copper Mines								South America								Indonesia				Africa
																											Atlantic			Other									Corporate,
																							Molyb-				Copper			Mining						U.S.			Other
			Other						Cerro		Candel-		Other										denum		Rod &		Smelting			& Elimi-				Total		Oil & Gas			& Elimi-				FCX
	Morenci		Mines			Total			Verde		aria		Mines		Total		Grasberg				Tenke		Mines		Refining		& Refining			nations				Mining		Operations			nations				Total
Six Months Ended June 30, 2014
Revenues:
Unaffiliated customers	$	75	$	116		$	191		$	701	$	341	$	605	$	1,647	$	985		^a	$	692	$	—	$	2,380	$	1,211		$	904		^b	$	8,010	$	2,497	^c	$	—			$	10,507
Intersegment	918		1,646			2,564			87		190		5		282		8				53		296		16		11			(3,230		)		—		—			—				—
Production and delivery	595		1,061			1,656			360		314		332		1,006		894				350		157		2,381		1,206			(2,470		)		5,180		640			(1		)		5,819
Depreciation, depletion and amortization	77		158			235			79		35		68		182		102				114		46		5		20			36				740		1,232			7				1,979
Selling, general and administrative expenses	1		1			2			2		1		1		4		46				6		—		—		9			13				80		116			103				299
Mining exploration and research expenses	—		4			4			—		—		—		—		—				—		—		—		—			60				64		—			—				64
Environmental obligations and shutdown costs	—		—			—			—		—		—		—		—				—		—		—		—			82				82		—			—				82
Operating income (loss)	320		538			858			347		181		209		737		(49		)		275		93		10		(13		)	(47		)		1,864		509			(109		)		2,264

Interest expense, net	1		1			2			—		—		—		—		—				—		—		—		7			36				45		150			130				325
Provision for income taxes	—		—			—			130		68		69		267		(15		)		57		—		—		—			—				309		—			376				685
Capital expenditures	533		94			627			791		22		26		839		479				60		33		2		6			27				2,073		1,484			5				3,562

Six Months Ended June 30, 2013
Revenues:
Unaffiliated customers	$	118	$	121		$	239		$	601	$	391	$	622	$	1,614	$	1,335		^a	$	793	$	—	$	2,595	$	1,216		$	740		^b	$	8,532	$	336	^c	$	3			$	8,871
Intersegment	880		1,575			2,455			195		156		—		351		187				10		287		14		10			(3,314		)		—		—			—				—
Production and delivery	598		1,054			1,652			360		341		290		991		1,126				370		158		2,590		1,203			(2,615		)		5,475		89			8				5,572
Depreciation, depletion and amortization	70		140			210			70		25		62		157		113				115		41		5		22			22				685		169			5				859
Selling, general and administrative expenses	1		2			3			2		1		—		3		53				6		—		—		9			18				92		14			193				299
Mining exploration and research expenses	—		1			1			—		—		—		—		—				—		—		—		—			109				110		—			6				116
Environmental obligations and shutdown costs	—		(6		)	(6		)	—		—		—		—		—				—		—		—		—			37				31		—			—				31
Operating income (loss)	329		505			834			364		180		270		814		230				312		88		14		(8		)	(145		)		2,139		64			(209		)		1,994

Interest expense, net	3		1			4			2		—		—		2		12				2		—		—		8			40				68		26			95				189
Provision for income taxes	—		—			—			123		64		91		278		116				66		—		—		—			—				460		—			8			^d	468
Capital expenditures	357		186			543			372		68		30		470		511				103		82		2		19			40				1,770		190			18				1,978


a.	Included PT-FI’s sales to PT Smelting totaling $913 million for the first six months of 2014 and $721 million for the first six months of 2013.


b.	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.


c.	Included net mark-to-market losses associated with crude oil and natural gas derivative contracts totaling $120 million for the first six months of 2014 and $35 million for the period from June 1, 2013, to June 30, 2013.


d.	Included $183 million of net benefits resulting from oil and gas acquisitions.