Last10K.com

Freeportmcmoran Inc (FCX) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2014

Freeport-McMoRan, Inc

CIK: 831259 Ticker: FCX


333 North Central Avenue Phoenix, AZ 85004
Financial Contacts:
 
 
 
Media Contact:
 
Kathleen L. Quirk (602) 366-8016
 
David P. Joint
(504) 582-4203
 
Eric E. Kinneberg (602) 366-7994
Freeport-McMoRan
Reports Fourth-Quarter and Year Ended December 31, 2014 Results
 
 
 
 
 
Net loss attributable to common stock totaled $2.9 billion, $2.75 per share, for fourth-quarter 2014 and $1.3 billion, $1.26 per share, for the year 2014. After adjusting for special items (see page 2) totaling $3.1 billion, $3.00 per share, for fourth-quarter 2014 and $3.3 billion, $3.22 per share, for the year 2014, adjusted net income attributable to common stock totaled $257 million, $0.25 per share, for fourth-quarter 2014 and $2.0 billion, $1.96 per share, for the year 2014.
Consolidated sales totaled 972 million pounds of copper, 377 thousand ounces of gold, 21 million pounds of molybdenum and 12.1 million barrels of oil equivalents (MMBOE) for fourth-quarter 2014 and 3.9 billion pounds of copper, 1.25 million ounces of gold, 95 million pounds of molybdenum and 56.8 MMBOE for the year 2014.
Consolidated sales for the year 2015 are expected to approximate 4.3 billion pounds of copper, 1.3 million ounces of gold, 95 million pounds of molybdenum and 55.5 MMBOE, including 950 million pounds of copper, 225 thousand ounces of gold, 23 million pounds of molybdenum and 13.1 MMBOE for first-quarter 2015.
Average realized prices for fourth-quarter 2014 were $2.95 per pound for copper, $1,193 per ounce for gold and $78.02 per barrel for oil.
Consolidated unit net cash costs for fourth-quarter 2014 averaged $1.47 per pound of copper for mining operations and $21.93 per barrel of oil equivalents (BOE) for oil and gas operations.
Operating cash flows totaled $1.1 billion for fourth-quarter 2014 and $5.6 billion (net of $0.6 billion in working capital uses and changes in other tax payments) for the year 2014. Based on current sales volume and cost estimates and assuming average prices of $2.60 per pound for copper, $1,300 per ounce for gold, $9 per pound for molybdenum and $50 per barrel for Brent crude oil, operating cash flows for the year 2015 are estimated to approximate $4 billion (including $0.2 billion of working capital sources and changes in other tax payments).
Capital expenditures totaled $1.8 billion for fourth-quarter 2014 and $7.2 billion for the year 2014, including $2.9 billion for major projects at mining operations and $3.2 billion for oil and gas operations. Capital expenditures are expected to approximate $6.0 billion for the year 2015, including $2.5 billion for major projects at mining operations and $2.3 billion for oil and gas operations, reflecting a 34 percent decrease in oil and gas expenditures.
On November 3, 2014, FCX completed the sale of its 80 percent ownership interests in the Candelaria and Ojos del Salado copper mining operations for $1.8 billion in cash.
During fourth-quarter 2014, FM O&G achieved several positive results in its exploration and development program, including positive well results at Holstein Deep, Power Nap and Dorado in the Deepwater Gulf of Mexico (GOM) and a successful well test at Highlander onshore in South Louisiana.
FCX is taking aggressive actions to reduce or defer capital expenditures and other costs and has initiated efforts to obtain third-party funding for a significant portion of its oil and gas capital expenditures to maintain financial strength and flexibility in response to recent sharp declines in oil prices. In addition, FCX is monitoring copper markets and will be responsive to market conditions. As a first step, FCX has reduced budgeted 2015 capital expenditures, exploration and other costs by a total of $2 billion. FCX has a broad set of natural resource assets that provide many alternatives for future actions to enhance its financial flexibility. Additional capital cost reductions, potential additional divestitures or monetizations and other actions will be pursued as required to maintain a strong balance sheet while preserving a strong resource position and portfolio of assets with attractive long-term growth prospects.
At December 31, 2014, consolidated debt totaled $19.0 billion and consolidated cash totaled $464 million.

 
 
 
Freeport-McMoRan
 
 1

The following information was filed by Freeport-McMoRan, Inc (FCX) on Tuesday, January 27, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Freeport-McMoRan, Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Freeport-McMoRan, Inc.

Continue

Assess how Freeport-McMoRan, Inc's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Freeport-McMoRan, Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2015 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive (loss) Income
Consolidated Statements Of Equity
Consolidated Statements Of Operations
Accounts Payable And Accrued Liabilities
Accounts Payable And Accrued Liabilities (details)
Accounts Payable And Accrued Liabilities (tables)
Business Segments
Business Segments (long Lived Assets By Geographic Area) (details)
Business Segments (mine Production And Purchase Percentages) (details)
Business Segments (product Revenue) (details)
Business Segments (revenue By Major Customers And Labor Matters) (details)
Business Segments (revenues By Geographic Area Of Customer) (details)
Business Segments (segment Reporting) (details)
Business Segments (tables)
Commitments And Guarantees
Commitments And Guarantees (community Development Programs) (details)
Commitments And Guarantees (contractual Obligations) (details)
Commitments And Guarantees (details)
Commitments And Guarantees (financial Guarantees) (details)
Commitments And Guarantees (mining Contracts) (details)
Contingencies
Contingencies (asset Retirement Obligations) (details)
Contingencies (details)
Contingencies (environmental Obligations) (details)
Contingencies (other Contingencies) (details)
Contingencies (tables)
Debt
Debt (details)
Debt (tables)
Dispositions And Acquisitions (details)
Dispositions And Acquisitions (dispositions) (details)
Dispositions And Acquisitions (notes)
Dispositions And Acquisitions (pro Forma) (details)
Dispositions And Acquisitions (purchase Price Allocation) (details)
Dispositions And Acquisitions (redeemable Noncontrolling Interest) (details)
Dispositions And Acquisitions (tables)
Fair Value Measurement
Fair Value Measurement (details)
Fair Value Measurement (tables)
Fair Value Measurement Fair Value Measurement (unobservable Inputs) (details)
Financial Instruments
Financial Instruments (derivative) (details)
Financial Instruments (oil And Gas) (details)
Financial Instruments (tables)
Financial Instruments (unrealized Gains Losses) (details)
Financial Instruments (unsettled Derivatives) (details)
Guarantor Financial Statements (condensed Consolidated Cash Flow Statement) (details)
Guarantor Financial Statements (condensed Consolidating Balance Sheet) (details)
Guarantor Financial Statements (condensed Consolidating Comprehensive (loss) Income Statement) (details)
Guarantor Financial Statements (details)
Guarantor Financial Statements (notes)
Guarantor Financial Statements (tables)
Income Taxes
Income Taxes (details)
Income Taxes (mining Royalty Taxes) (details)
Income Taxes (reserve For Unrecognized Tax Benefits, Interest And Penalties) (details)
Income Taxes (summary Of Income Tax Examinations) (details)
Income Taxes (tables)
Income Taxes (tax Credit Carryforward) (details)
Inventories, Including Long-term Mill And Leach Stockpiles
Inventories, Including Long-term Mill And Leach Stockpiles (components Of Inventories) (details)
Inventories, Including Long-term Mill And Leach Stockpiles (tables)
Other Assets
Other Assets (details)
Other Assets (tables)
Other Liabilities, Including Employee Benefits
Other Liabilities, Including Employee Benefits (details)
Other Liabilities, Including Employee Benefits (fv, Assets Measured On Recurring Basis) (details)
Other Liabilities, Including Employee Benefits (schedule Of Disclosures) (details)
Other Liabilities, Including Employee Benefits (schedule Of Fv Of Financial Assets For Pension Plans) (details)
Other Liabilities, Including Employee Benefits (tables)
Other Liabilities, Including Employee Benefits (target Asset Allocation) (details)
Ownership In Subsidiaries And Joint Ventures
Ownership In Subsidiaries And Joint Ventures (details)
Property, Plant, Equipment And Mining Development Costs, Net
Property, Plant, Equipment And Mining Development Costs, Net (details)
Property, Plant, Equipment And Mining Development Costs, Net (schedule Of Ppe) (details)
Property, Plant, Equipment And Mining Development Costs, Net (tables)
Quarterly Financial Information (unaudited)
Quarterly Financial Information (unaudited) (details)
Quarterly Financial Information (unaudited) (tables)
Schedule Ii - Valuation And Qualifying Accounts
Schedule Ii - Valuation And Qualifying Accounts (details)
Schedule Ii - Valuation And Qualifying Accounts (tables)
Stockholders' Equity And Stock-based Compensation
Stockholders' Equity And Stock-based Compensation (accumulated Other Comprehensive Income) (details)
Stockholders' Equity And Stock-based Compensation (common Stock) (details)
Stockholders' Equity And Stock-based Compensation (details)
Stockholders' Equity And Stock-based Compensation (stock Award Plans) (details)
Stockholders' Equity And Stock-based Compensation (tables)
Subsequent Events
Subsequent Events (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (details)
Summary Of Significant Accounting Policies (earnings Per Share) (details)
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (property Plant And Equipment) (details)
Summary Of Significant Accounting Policies (tables)
Supplementary Mineral Reserve Information (unaudited)
Supplementary Mineral Reserve Information (unaudited) (details)
Supplementary Mineral Reserve Information (unaudited) (ore Reserves) (details)
Supplementary Mineral Reserve Information (unaudited) (recoverable Reserves) (details)
Supplementary Mineral Reserve Information (unaudited) (tables)
Supplementary Oil And Gas Information (unaudited) (details)
Supplementary Oil And Gas Information (unaudited) (notes)
Supplementary Oil And Gas Information (unaudited) (schedule Of Capitalized Costs) (details)
Supplementary Oil And Gas Information (unaudited) (schedule Of Changes In The Standardized Measure) (details)
Supplementary Oil And Gas Information (unaudited) (schedule Of Costs Incurred) (details)
Supplementary Oil And Gas Information (unaudited) (schedule Of Costs Not Subject To Amortization) (details)
Supplementary Oil And Gas Information (unaudited) (schedule Of Estimated Quantities Of Oil And Natural Gas Reserves) (details)
Supplementary Oil And Gas Information (unaudited) (schedule Of Results Of Operations For Oil And Gas Producing Activities) (details)
Supplementary Oil And Gas Information (unaudited) (schedule Of Standardized Measure Of Future Net Cash Flows) (details)
Supplementary Oil And Gas Information (unaudited) (tables)
Ticker: FCX
CIK: 831259
Form Type: 10-K Annual Report
Accession Number: 0000831259-15-000016
Submitted to the SEC: Fri Feb 27 2015 2:06:45 PM EST
Accepted by the SEC: Fri Feb 27 2015
Period: Wednesday, December 31, 2014
Industry: Metal Mining

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/fcx/0000831259-15-000016.htm