Financial Information by Business Segments




(In millions)

																							Atlantic		Corporate,
	North America Copper Mines							South America Mining															Copper		Other
								Cerro							Indonesia			Molybdenum			Rod &		Smelting		& Elimi-				FCX
	Morenci			Other		Total		Verde		Other			Total		Mining			Mines			Refining		& Refining		nations^a				Total
Three Months Ended March 31, 2017
Revenues:
Unaffiliated customers	$	66		$	50	$	116	$	640	$	112		$	752	$	534	^b	$	—		$	1,107	$	458	$	374		^c	$	3,341
Intersegment	416			563		979		116		—			116		—			63			8		—		(1,166		)		—
Production and delivery	260		^d	413		673		391		82			473		273		^d	52			1,110		436		(817		)	^e	2,200
Depreciation, depletion and amortization	47			69		116		112		21			133		83			19			2		7		29				389
Selling, general and administrative expenses	—			1		1		2		—			2		30			—			—		5		115			^f	153
Mining exploration and research expenses	—			1		1		—		—			—		—			—			—		—		14				15
Environmental obligations and shutdown costs	—			—		—		—		—			—		—			—			—		—		27				27
Net gain on sales of assets	—			—		—		—		—			—		—			—			—		—		(23		)		(23		)
Operating income (loss)	175			129		304		251		9			260		148			(8		)	3		10		(137		)		580

Interest expense, net	1			—		1		16		—			16		—			—			—		4		146				167
Provision for income taxes	—			—		—		98		3			101		67			—			—		—		6				174
Total assets at March 31, 2017	2,814			4,361		7,175		9,081		1,525			10,606		10,879			1,917			261		652		5,086			^g	36,576
Capital expenditures	23			5		28		14		1			15		244			1			1		8		47			^h	344

Three Months Ended March 31, 2016
Revenues:
Unaffiliated customers	$	162		$	56	$	218	$	486	$	144		$	630	$	498	^b	$	—		$	971	$	422	$	503		^c	$	3,242
Intersegment	357			561		918		41		—			41		58			45			8		1		(1,071		)		—
Production and delivery	340			448		788		291		119			410		394			52			970		393		(508		)	^e	2,499
Depreciation, depletion and amortization	62			82		144		101		31			132		81			19			2		8		276				662
Impairment of oil and gas properties	—			—		—		—		—			—		—			—			—		—		3,787				3,787
Selling, general and administrative expenses	—			1		1		2		—			2		14			—			—		4		117				138
Mining exploration and research expenses	—			1		1		—		—			—		—			—			—		—		17				18
Environmental obligations and shutdown costs	—			—		—		—		—			—		—			—			—		—		10				10
Operating income (loss)	117			85		202		133		(6		)	127		67			(26		)	7		18		(4,267		)		(3,872		)

Interest expense, net	1			—		1		22		—			22		—			—			—		4		164				191
Provision for (benefit from) income taxes	—			—		—		45		(6		)	39		36			—			—		—		2				77
Total assets at March 31, 2016	3,490			4,751		8,241		9,495		1,623			11,118		9,306			1,983			236		653		11,127			^g	42,664
Capital expenditures	28			6		34		156		1			157		222			1			1		2		565			^h	982


a.	Includes U.S. oil and gas operations that was previously a reportable segment.


b.	Includes PT-FI’s sales to PT Smelting totaling $258 million in first-quarter 2017 and $277 million in first-quarter 2016.


c.	Includes revenues from FCX’s molybdenum sales company, which includes sales of molybdenum produced by the Molybdenum mines and by certain of the North America and South America copper mines.


d.	Includes $19 million for asset impairments at Morenci and $21 million at PT-FI for costs charged directly to cost of sales as a result of the impact of regulatory restrictions on its concentrate exports.


e.	Includes net credits (charges) for oil and gas operations totaling $20 million in first-quarter 2017 and $(200) million in first-quarter 2016, primarily for drillship settlement/idle rig costs, asset impairment and inventory adjustments.


f.	Includes $21 million for other oil and gas contract termination costs.


g.	Includes assets held for sale totaling $408 million at March 31, 2017, primarily associated with Freeport Cobalt and the Kisanfu exploration project, and $5.3 billion at March 31, 2016, which also included discontinued operations. Also includes $331 million at March 31, 2017, and $4.4 billion at March 31, 2016, associated with oil and gas operations.


h.	Includes $19 million in first-quarter 2017 and $523 million in first-quarter 2016 associated with oil and gas operations. First-quarter 2016 also includes $35 million associated with discontinued operations.