Cost, Maintenance

[Table of Contents](#i43d04c9d26874e33802bdf64c458414a_7)Financial Information by Business Segment

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|  | North America Copper Mines |  | South America Mining |  |  |  |  |  |   |  |   |  |   |  |  |  |  |  |  |  |   |  |   |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 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, 2021 |  |  |  |  |   |  |  |  |   |  |   |  |   |  |   |  |  |  |   |  |   |  |   |  |  |  |  |  |  |  |   |  |   |  |
| Revenues: |   |  |  |  |  |  |   |  |   |  |   |  |   |  |   |  |  |  |   |  |   |  |   |  |  |  |  |  |  |  |   |  |   |  |
| Unaffiliated customers | $ | 82  |  |  |  |  | $ | 180  |  |  | $ | 262  |  |  | $ | 3,736  |  |  | $ | 720  |  |  | $ | 4,456  |  |  | $ | 7,241  |  |  |  |  | $ | —  |  |  | $ | 6,356  |  |  | $ | 2,961  |  |  |  |  |  |  |  |  | $ | 1,569  |  | a | $ | 22,845  |  |  |
| Intersegment | 2,728  |  |  |  |  | 3,835  |  |  | 6,563  |  |  | 460  |  |  | —  |  |  | 460  |  |  | 282  |  |  |  |  | 444  |  |  | 29  |  |  | —  |  |  |  |  |  |  |  |  | (7,778) |  |  | —  |  |  |
| Production and delivery | 1,226  |  |  |  |  | 2,235  |  |  | 3,461  |  |  | 2,000  |  | b | 429  |  |  | 2,429  |  |  | 2,425  |  | c |  |  | 253  |  |  | 6,381  |  |  | 2,907  |  |  |  |  |  |  |  |  | (5,840) |  | d | 12,016  |  |  |
| Depreciation, depletion and amortization | 152  |  |  |  |  | 217  |  |  | 369  |  |  | 366  |  |  | 47  |  |  | 413  |  |  | 1,049  |  |  |  |  | 67  |  |  | 5  |  |  | 28  |  |  |  |  |  |  |  |  | 67  |  |  | 1,998  |  |  |
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| Metals inventory adjustments | 13  |  |  |  |  | —  |  |  | 13  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  |  |  | 1  |  |  | —  |  |  | —  |  |  |  |  |  |  |  |  | 2  |  |  | 16  |  |  |
| Selling, general and administrative expenses | 2  |  |  |  |  | 2  |  |  | 4  |  |  | 8  |  |  | —  |  |  | 8  |  |  | 111  |  |  |  |  | —  |  |  | —  |  |  | 24  |  |  |  |  |  |  |  |  | 236  |  |  | 383  |  |  |
| Mining exploration and research expenses | —  |  |  |  |  | 1  |  |  | 1  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  |  |  | —  |  |  | —  |  |  | —  |  |  |  |  |  |  |  |  | 54  |  |  | 55  |  |  |
| Environmental obligations and shutdown costs | —  |  |  |  |  | (1) |  |  | (1) |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  |  |  | —  |  |  | —  |  |  | —  |  |  |  |  |  |  |  |  | 92  |  |  | 91  |  |  |
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| Net gain on sales of assets | —  |  |  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  |  |  | —  |  |  | —  |  |  | (19) |  |  |  |  |  |  |  |  | (61) |  | e | (80) |  |  |
| Operating income (loss) | 1,417  |  |  |  |  | 1,561  |  |  | 2,978  |  |  | 1,822  |  |  | 244  |  |  | 2,066  |  |  | 3,938  |  |  |  |  | 123  |  |  | (1) |  |  | 21  |  |  |  |  |  |  |  |  | (759) |  |  | 8,366  |  |  |
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| Interest expense, net | —  |  |  |  |  | 1  |  |  | 1  |  |  | 28  |  |  | —  |  |  | 28  |  |  | 48  |  |  |  |  | —  |  |  | —  |  |  | 6  |  |  |  |  |  |  |  |  | 519  |  |  | 602  |  |  |
| Provision for (benefit from) income taxes | —  |  |  |  |  | —  |  |  | —  |  |  | 730  |  |  | 90  |  |  | 820  |  |  | 1,524  |  | f |  |  | —  |  |  | —  |  |  | —  |  |  |  |  |  |  |  |  | (45) |  |  | 2,299  |  |  |
| Total assets at December 31, 2021 | 2,708  |  |  |  |  | 5,208  |  |  | 7,916  |  |  | 8,694  |  |  | 1,921  |  |  | 10,615  |  |  | 18,971  |  |  |  |  | 1,713  |  |  | 228  |  |  | 1,318  |  |  |  |  |  |  |  |  | 7,261  |  |  | 48,022  |  |  |
| Capital expenditures | 135  |  |  |  |  | 207  |  |  | 342  |  |  | 132  |  |  | 30  |  |  | 162  |  |  | 1,296  |  |  |  |  | 6  |  |  | 2  |  |  | 34  |  |  |  |  |  |  |  |  | 273  |  | g | 2,115  |  |  |
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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 nonrecurring charges totaling $92 million associated with labor-related charges at Cerro Verde for agreements reached with its hourly employees. c.Includes charges totaling $340 million associated with unfavorable ARO change. Refer to Note 12 for further discussion.d.Includes charges associated with the major maintenance turnaround at the Miami Smelter totaling $87 million.e.Includes a $60 million gain on the sale of FCX’s remaining cobalt business located in Kokkola, Finland. Refer to Note 2 for further discussion.f.Includes net tax benefits of $189 million associated with the release of a portion of the valuation allowance recorded against PT Rio Tinto NOLs. Refer to Note 11 for further discussion.g.Includes capital expenditures for the Indonesia smelter projects of $222 million.  
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