XML 64 R23.htm IDEA: XBRL DOCUMENT
v3.10.0.1

BUSINESS SEGMENTS INFORMATION | 12 Months Ended
--- | ---
Dec. 31, 2018
Segment Reporting [Abstract] |
Business Segment Information | BUSINESS SEGMENT INFORMATION Product Revenues. FCX’s revenues attributable to the products it sold for the years ended December 31 follow:
| 2018 |  | 2017 |  | 2016
Copper: |  |  |  |  |
Concentrate | $ | 6,180 |  |  | $ | 5,604 |  |  | $ | 5,048 |
Cathode | 4,366 |  |  | 3,759 |  |  | 3,495 |
Rod, and other refined copper products | 2,396 |  |  | 2,387 |  |  | 2,082 |
Purchased copper a | 1,053 |  |  | 789 |  |  | 428 |
Gold | 3,231 |  |  | 2,126 |  |  | 1,592 |
Molybdenum | 1,190 |  |  | 896 |  |  | 659 |
Other b | 1,490 |  |  | 1,159 |  |  | 2,145 |
Adjustments to revenues: |  |  |  |  |
Treatment charges | (535 | ) |  | (536 | ) |  | (652 | )
Royalty expense c | (246 | ) |  | (181 | ) |  | (138 | )
Export duties d | (180 | ) |  | (115 | ) |  | (95 | )
Revenues from contracts with customers | 18,945 |  |  | 15,888 |  |  | 14,564 |
Embedded derivatives e | (317 | ) |  | 515 |  |  | 266 |
Total consolidated revenues | $ | 18,628 |  |  | $ | 16,403 |  |  | $ | 14,830 |
a. | FCX purchases copper cathode primarily for processing by its Rod & Refining operations.
b. | Primarily includes revenues associated with cobalt, silver, oil, gas and natural gas liquids.
c. | Reflects royalties for sales from PT-FI and Cerro Verde that will vary with the volume of metal sold and the prices of copper and gold.
d. | Refer to Note 13 for discussion of PT-FI export duties.
e. | Refer to Note 14 for discussion of embedded derivatives related to FCX’s provisionally priced concentrate and cathode sales contracts.
Geographic Area. Information concerning financial data by geographic area follows:
| December 31,
| 2018 |  | 2017 |  | 2016
Long-lived assets:a |  |  |  |  |
Indonesia | $ | 14,025 |  |  | $ | 8,938 |  |  | $ | 8,794 |
U.S. | 8,208 |  |  | 8,312 |  |  | 8,282 |
Peru | 7,274 |  |  | 7,485 |  |  | 7,981 |
Chile | 1,128 |  |  | 1,221 |  |  | 1,269 |
Other | 458 |  |  | 408 |  |  | 378 |
Total | $ | 31,093 |  |  | $ | 26,364 |  |  | $ | 26,704 |
a. | Excludes deferred tax assets and intangible assets.
| Years Ended December 31,
| 2018 |  | 2017 |  | 2016
Revenues:a |  |  |  |  |
U.S. | $ | 5,790 |  |  | $ | 5,344 |  |  | $ | 5,896 |
Switzerland | 2,941 |  |  | 1,200 |  |  | 1,147 |
Indonesia | 2,226 |  |  | 2,023 |  |  | 1,402 |
Japan | 1,946 |  |  | 1,882 |  |  | 1,350 |
Spain | 1,070 |  |  | 1,086 |  |  | 878 |
China | 873 |  |  | 1,136 |  |  | 1,125 |
India | 389 |  |  | 782 |  |  | 553 |
United Kingdom | 296 |  |  | 226 |  |  | 204 |
Chile | 294 |  |  | 248 |  |  | 250 |
Belgium | 278 |  |  | 39 |  |  | 87 |
Korea | 269 |  |  | 364 |  |  | 219 |
Germany | 256 |  |  | 161 |  |  | 162 |
France | 255 |  |  | 122 |  |  | 80 |
Philippines | 221 |  |  | 378 |  |  | 261 |
Bermuda | 207 |  |  | 226 |  |  | 273 |
Other | 1,317 |  |  | 1,186 |  |  | 943 |
Total | $ | 18,628 |  |  | $ | 16,403 |  |  | $ | 14,830 |
a. | Revenues are attributed to countries based on the location of the customer.
Major Customers and Affiliated Companies. Copper concentrate sales to PT Smelting totaled 12 percent of FCX’s consolidated revenues for both the years ended December 31, 2018 and 2017, which is the only customer that accounted for 10 percent or more of FCX’s consolidated revenues during the three years ended December 31, 2018. Consolidated revenues include sales to the noncontrolling interest owners of FCX’s South America mining operations totaling $1.2 billion in 2018, $1.1 billion in 2017 and $1.0 billion in 2016, and PT-FI’s sales to PT Smelting totaling $2.2 billion in 2018, $2.0 billion in 2017 and $1.4 billion in 2016. Labor Matters. As of December 31, 2018, approximately 37 percent of FCX’s global labor force was covered by collective bargaining agreements, and approximately 21 percent was covered by agreements that expired and are currently being negotiated or will expire within one year. Business Segments. FCX has organized its mining operations into four primary divisions – North America copper mines, South America mining, Indonesia mining and Molybdenum mines, and operating segments that meet certain thresholds are reportable segments. Separately disclosed in the following tables are FCX’s reportable segments, which include the Morenci, Cerro Verde and Grasberg (Indonesia Mining) copper mines, the Rod & Refining operations and Atlantic Copper Smelting & Refining. Intersegment sales between FCX’s business segments are based on terms similar to arms-length transactions with third parties at the time of the sale. Intersegment sales may not be reflective of the actual prices ultimately realized because of a variety of factors, including additional processing, timing of sales to unaffiliated customers and transportation premiums. FCX defers recognizing profits on sales from its mines to other divisions, including Atlantic Copper (FCX’s wholly owned smelter and refinery in Spain) and on 25 percent of PT-FI’s sales to PT Smelting (PT-FI’s 25-percent-owned smelter and refinery in Indonesia), until final sales to third parties occur. Quarterly variations in ore grades, the timing of intercompany shipments and changes in product prices result in variability in FCX’s net deferred profits and quarterly earnings. FCX allocates certain operating costs, expenses and capital expenditures to its operating divisions and individual segments. However, not all costs and expenses applicable to an operation are allocated. U.S. federal and state income taxes are recorded and managed at the corporate level (included in Corporate, Other & Eliminations), whereas foreign income taxes are recorded and managed at the applicable country level. In addition, most mining exploration and research activities are managed on a consolidated basis, and those costs, along with some selling, general and administrative costs, are not allocated to the operating divisions or individual segments. Accordingly, the following Financial Information by Business Segment reflects management determinations that may not be indicative of what the actual financial performance of each operating division or segment would be if it was an independent entity. North America Copper Mines. FCX operates seven open-pit copper mines in North America – Morenci, Bagdad, Safford, Sierrita and Miami in Arizona, and Chino and Tyrone in New Mexico. The North America copper mines include open-pit mining, sulfide ore concentrating, leaching and SX/EW operations. A majority of the copper produced at the North America copper mines is cast into copper rod by FCX’s Rod & Refining segment. In addition to copper, certain of FCX’s North America copper mines also produce molybdenum concentrate, gold and silver. The Morenci open-pit mine, located in southeastern Arizona, produces copper cathode and copper concentrate. In addition to copper, the Morenci mine also produces molybdenum concentrate. The Morenci mine produced 49 percent of FCX’s North America copper during 2018. South America Mining. South America mining includes two operating copper mines – Cerro Verde in Peru and El Abra in Chile. These operations include open-pit mining, sulfide ore concentrating, leaching and SX/EW operations. The Cerro Verde open-pit copper mine, located near Arequipa, Peru, produces copper cathode and copper concentrate. In addition to copper, the Cerro Verde mine also produces molybdenum concentrate and silver. The Cerro Verde mine produced 84 percent of FCX’s South America copper during 2018. Indonesia Mining. Indonesia mining includes PT-FI’s Grasberg minerals district that produces copper concentrate that contains significant quantities of gold and silver. Molybdenum Mines. Molybdenum mines include the wholly owned Henderson underground mine and Climax open-pit mine, both in Colorado. The Henderson and Climax mines produce high-purity, chemical-grade molybdenum concentrate, which is typically further processed into value-added molybdenum chemical products. Rod & Refining. The Rod & Refining segment consists of copper conversion facilities located in North America, and includes a refinery, three rod mills and a specialty copper products facility, which are combined in accordance with segment reporting aggregation guidance. These operations process copper produced at FCX’s North America copper mines and purchased copper into copper cathode, rod and custom copper shapes. At times these operations refine copper and produce copper rod and shapes for customers on a toll basis. Toll arrangements require the tolling customer to deliver appropriate copper-bearing material to FCX’s facilities for processing into a product that is returned to the customer, who pays FCX for processing its material into the specified products. Atlantic Copper Smelting & Refining. Atlantic Copper smelts and refines copper concentrate and markets refined copper and precious metals in slimes. During 2018, Atlantic Copper purchased 14 percent of its concentrate requirements from the North America copper mines, 5 percent from the South America mining operations and 4 percent from the Indonesia mining operations, with the remainder purchased from unaffiliated third parties. Corporate, Other & Eliminations. Corporate, Other & Eliminations consists of FCX’s other mining and eliminations, oil and gas operations and other corporate and elimination items. Other mining and eliminations include the Miami smelter (a smelter at FCX’s Miami, Arizona, mining operation), Freeport Cobalt, molybdenum conversion facilities in the U.S. and Europe, five non-operating copper mines in North America (Ajo, Bisbee, Tohono, Twin Buttes and Christmas in Arizona) and other mining support entities. Financial Information by Business Segment
| North America Copper Mines |  | South America |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Atlantic |  | Corporate, |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Copper |  | Other |  |  |
|  |  |  |  |  |  | Cerro |  |  |  |  |  | Indonesia |  | Molybdenum |  | Rod & |  | Smelting |  | & Elimi- |  | FCX |
| Morenci |  | Other |  | Total |  | Verde |  | Other |  | Total |  | Mining |  | Mines |  | Refining |  | & Refining |  | nations |  | Total |
Year Ended December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unaffiliated customers | $ | 90 |  |  | $ | 54 |  |  | $ | 144 |  |  | $ | 2,709 |  |  | $ | 594 |  |  | $ | 3,303 |  |  | $ | 5,446 |  |  | $ | — |  |  | $ | 5,103 |  |  | $ | 2,299 |  |  | $ | 2,333 |  | a | $ | 18,628 |  |
Intersegment | 2,051 |  |  | 2,499 |  |  | 4,550 |  |  | 352 |  |  | — |  |  | 352 |  |  | 113 |  |  | 410 |  |  | 31 |  |  | 3 |  |  | (5,459 | ) |  | — |  |
Production and delivery | 1,183 |  |  | 1,945 |  |  | 3,128 |  |  | 1,887 |  | b,c | 478 |  |  | 2,365 |  |  | 1,864 |  | d | 289 |  |  | 5,117 |  |  | 2,218 |  |  | (3,290 | ) |  | 11,691 |  |
Depreciation, depletion and amortization | 176 |  |  | 184 |  |  | 360 |  |  | 456 |  |  | 90 |  |  | 546 |  |  | 606 |  |  | 79 |  |  | 11 |  |  | 27 |  |  | 125 |  | e | 1,754 |  |
Selling, general and administrative expenses | 3 |  |  | 3 |  |  | 6 |  |  | 9 |  |  | — |  |  | 9 |  |  | 123 |  |  | — |  |  | — |  |  | 21 |  |  | 284 |  |  | 443 |  |
Mining exploration and research expenses | — |  |  | 3 |  |  | 3 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 102 |  |  | 105 |  |
Environmental obligations and shutdown costs | — |  |  | 2 |  |  | 2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 87 |  |  | 89 |  |
Net gain on sales of assets | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (208 | ) | f | (208 | ) |
Operating income (loss) | 779 |  |  | 416 |  |  | 1,195 |  |  | 709 |  |  | 26 |  |  | 735 |  |  | 2,966 |  |  | 42 |  |  | 6 |  |  | 36 |  |  | (226 | ) |  | 4,754 |  |
Interest expense, net | 3 |  |  | 1 |  |  | 4 |  |  | 429 |  | c | — |  |  | 429 |  |  | 1 |  |  | — |  |  | — |  |  | 25 |  |  | 486 |  |  | 945 |  |
Provision for (benefit from) income taxes | — |  |  | — |  |  | — |  |  | 253 |  | c | 15 |  |  | 268 |  |  | 755 |  | g | — |  |  | — |  |  | 1 |  |  | (33 | ) | h | 991 |  |
Total assets at December 31, 2018 | 2,922 |  |  | 4,608 |  |  | 7,530 |  |  | 8,524 |  |  | 1,707 |  |  | 10,231 |  |  | 15,646 |  |  | 1,796 |  |  | 233 |  |  | 773 |  |  | 6,007 |  |  | 42,216 |  |
Capital expenditures | 216 |  |  | 385 |  |  | 601 |  |  | 220 |  |  | 17 |  |  | 237 |  |  | 1,001 |  |  | 9 |  |  | 5 |  |  | 16 |  |  | 102 |  |  | 1,971 |  |
Year Ended December 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unaffiliated customers | $ | 228 |  |  | $ | 180 |  |  | $ | 408 |  |  | $ | 2,811 |  |  | $ | 498 |  |  | $ | 3,309 |  |  | $ | 4,445 |  |  | $ | — |  |  | $ | 4,456 |  |  | $ | 2,031 |  |  | $ | 1,754 |  | a | $ | 16,403 |  |
Intersegment | 1,865 |  |  | 2,292 |  |  | 4,157 |  |  | 385 |  |  | — |  |  | 385 |  |  | — |  |  | 268 |  |  | 26 |  |  | 1 |  |  | (4,837 | ) |  | — |  |
Production and delivery | 1,043 |  |  | 1,702 |  |  | 2,745 |  |  | 1,878 |  | c | 366 |  |  | 2,244 |  |  | 1,735 |  | i | 227 |  |  | 4,467 |  |  | 1,966 |  |  | (3,118 | ) |  | 10,266 |  | j
Depreciation, depletion and amortization | 178 |  |  | 247 |  |  | 425 |  |  | 441 |  |  | 84 |  |  | 525 |  |  | 556 |  |  | 76 |  |  | 10 |  |  | 28 |  |  | 94 |  |  | 1,714 |  |
Selling, general and administrative expenses | 2 |  |  | 2 |  |  | 4 |  |  | 9 |  |  | — |  |  | 9 |  |  | 126 |  | i | — |  |  | — |  |  | 18 |  |  | 320 |  |  | 477 |  |
Mining exploration and research expenses | — |  |  | 2 |  |  | 2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 91 |  |  | 93 |  |
Environmental obligations and shutdown costs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 244 |  |  | 244 |  |
Net gain on sales of assets | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (81 | ) | f | (81 | ) |
Operating income (loss) | 870 |  |  | 519 |  |  | 1,389 |  |  | 868 |  |  | 48 |  |  | 916 |  |  | 2,028 |  |  | (35 | ) |  | 5 |  |  | 20 |  |  | (633 | ) |  | 3,690 |  |
Interest expense, net | 3 |  |  | 1 |  |  | 4 |  |  | 212 |  | c | — |  |  | 212 |  |  | 4 |  |  | — |  |  | — |  |  | 18 |  |  | 563 |  |  | 801 |  |
Provision for (benefit from) income taxes | — |  |  | — |  |  | — |  |  | 436 |  | c | 10 |  |  | 446 |  |  | 869 |  |  | — |  |  | — |  |  | 5 |  |  | (437 | ) | h | 883 |  |
Total assets at December 31, 2017 | 2,861 |  |  | 4,241 |  |  | 7,102 |  |  | 8,878 |  |  | 1,702 |  |  | 10,580 |  |  | 10,911 |  |  | 1,858 |  |  | 277 |  |  | 822 |  |  | 5,752 |  |  | 37,302 |  |
Capital expenditures | 114 |  |  | 53 |  |  | 167 |  |  | 103 |  |  | 12 |  |  | 115 |  |  | 875 |  |  | 5 |  |  | 4 |  |  | 41 |  |  | 203 |  |  | 1,410 |  |
a. | 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.
b. | Includes charges totaling $69 million associated with Cerro Verde’s new three-year collective labor agreement.
c. | Includes net charges totaling $14 million in production and delivery costs in 2018 and $203 million in 2017, $370 million in interest expense in 2018 and $145 million in 2017, and $35 million of net tax benefits in provision for income taxes in 2018 and $7 million of net tax charges in 2017 associated with disputed royalties for prior years.
d. | Includes net charges of $223 million primarily associated with surface water tax disputes with the local regional tax authority in Papua, assessments of prior period permit fees with the MOEF, disputed payroll withholding taxes for prior years and other tax settlements, and to write-off certain previously capitalized project costs for the new smelter in Indonesia, partially offset by inventory adjustments.
e. | Includes $31 million of depreciation expense at Freeport Cobalt from December 2016 through December 2017 that was suspended while it was classified as held for sale.
f. | Includes net gains in 2018 totaling $97 million associated with a favorable adjustment to the estimated fair value less costs to sell for Freeport Cobalt and fair value adjustments of $31 million associated with potential contingent consideration related to the 2016 sale of onshore California oil and gas properties; and net gains in 2017, primarily associated with sales of oil and gas properties of $49 million and a favorable adjustment of $13 million associated with the estimated fair value less costs to sell for the Kisanfu exploration project. Refer to Note 2 for further discussion.
g. | Includes tax credits totaling $571 million related to the change in PT-FI's tax rates in accordance with its IUPK ($504 million), U.S. tax reform ($47 million) and adjustment to PT-FI's historical tax positions ($20 million).
h. | Includes net tax credits totaling $76 million in 2018 and $438 million in 2017 primarily related to U.S. tax reform. Refer to Note 11 for further discussion.
i. | Includes net charges at PT-FI associated with workforce reductions totaling $120 million in production and delivery costs and $5 million in selling, general and administrative expenses.
j. | Includes a $42 million decrease related to the adoption of the new guidance for the presentation of net periodic benefit cost for pension and other postretirement benefit plans (refer to Note 1 for further discussion).
| North America Copper Mines |  | South America |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Atlantic |  | Corporate, |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Copper |  | Other |  |  |
|  |  |  |  |  |  | Cerro |  |  |  |  |  | Indonesia |  | Molybdenum |  | Rod & |  | Smelting |  | & Elimi- |  | FCX |
| Morenci |  | Other |  | Total |  | Verde |  | Other |  | Total |  | Mining |  | Mines |  | Refining |  | & Refining |  | nations |  | Total |
Year Ended December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unaffiliated customers | $ | 444 |  |  | $ | 240 |  |  | $ | 684 |  |  | $ | 2,241 |  |  | $ | 510 |  |  | $ | 2,751 |  |  | $ | 3,233 |  |  | $ | — |  |  | $ | 3,833 |  |  | $ | 1,825 |  |  | $ | 2,504 |  | a,b | $ | 14,830 |  |
Intersegment | 1,511 |  |  | 2,179 |  |  | 3,690 |  |  | 187 |  |  | — |  |  | 187 |  |  | 62 |  |  | 186 |  |  | 29 |  |  | 5 |  |  | (4,159 | ) |  | — |  |
Production and delivery | 1,162 |  |  | 1,752 |  |  | 2,914 |  |  | 1,351 |  |  | 407 |  |  | 1,758 |  |  | 1,775 |  |  | 212 |  |  | 3,833 |  |  | 1,712 |  |  | (1,517 | ) | c | 10,687 |  | d
Depreciation, depletion and amortization | 217 |  |  | 313 |  |  | 530 |  |  | 443 |  |  | 110 |  |  | 553 |  |  | 384 |  |  | 68 |  |  | 10 |  |  | 29 |  |  | 956 |  |  | 2,530 |  |
Impairment of oil and gas properties | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4,317 |  |  | 4,317 |  |
Selling, general and administrative expenses | 2 |  |  | 3 |  |  | 5 |  |  | 8 |  |  | 1 |  |  | 9 |  |  | 88 |  |  | — |  |  | — |  |  | 17 |  |  | 478 |  | c | 597 |  |
Mining exploration and research expenses | — |  |  | 3 |  |  | 3 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 60 |  |  | 63 |  |
Environmental obligations and shutdown costs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 14 |  |  | 14 |  |
Net gain on sales of assets | (576 | ) |  | — |  |  | (576 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (73 | ) |  | (649 | ) |
Operating income (loss) | 1,150 |  |  | 348 |  |  | 1,498 |  |  | 626 |  |  | (8 | ) |  | 618 |  |  | 1,048 |  |  | (94 | ) |  | 19 |  |  | 72 |  |  | (5,890 | ) |  | (2,729 | ) |
Interest expense, net | 3 |  |  | 1 |  |  | 4 |  |  | 82 |  |  | — |  |  | 82 |  |  | — |  |  | — |  |  | — |  |  | 15 |  |  | 654 |  |  | 755 |  |
Provision for (benefit from) income taxes | — |  |  | — |  |  | — |  |  | 222 |  |  | (6 | ) |  | 216 |  |  | 442 |  |  | — |  |  | — |  |  | 9 |  |  | (296 | ) |  | 371 |  |
Total assets at December 31, 2016 | 2,863 |  |  | 4,448 |  |  | 7,311 |  |  | 9,076 |  |  | 1,533 |  |  | 10,609 |  |  | 10,493 |  |  | 1,934 |  |  | 220 |  |  | 658 |  |  | 6,092 |  |  | 37,317 |  |
Capital expenditures | 77 |  |  | 25 |  |  | 102 |  |  | 380 |  |  | 2 |  |  | 382 |  |  | 1,025 |  |  | 2 |  |  | 1 |  |  | 17 |  |  | 1,284 |  | e | 2,813 |  |
a. | Includes revenues from FCX’s molybdenum sales company, which included sales of molybdenum produced by the Molybdenum mines and by certain of the North America and South America copper mines.
b. | Includes net mark-to-market losses totaling $35 million associated with oil derivative contracts, which were entered into as part of the terms to sell the onshore California oil and gas properties in 2016.
c. | Includes net charges for oil and gas operations totaling $1.0 billion in production and delivery costs, primarily for drillship settlements/idle rig and contract termination costs, inventory adjustments, asset impairments and other net charges, and $85 million in selling, general and administrative expenses for net restructuring charges.
d. | Includes a $46 million decrease related to the adoption of the new guidance for the presentation of net periodic benefit cost for pension and other postretirement benefit plans (refer to Note 1 for further discussion).
e. | Includes $1.2 billion associated with oil and gas operations and $73 million associated with discontinued operations. Refer to Note 2 for a summary of the results of discontinued operations.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration