2007 Annual Report a World of Assets
A World of Assets A World of Opportunities FREEPORT-MCMORAN COPPER & GOLD INC. 2007 Annual Report A World of Assets FREEPORT-McMoRan COPPER & GOLD INC. Freeport-McMoRan Copper & Gold Inc. (FCX) is a leading international mining company with headquarters in Phoenix, Arizona. FCX operates large, long-lived, geographically diverse assets with significant proven and probable reserves of copper, gold and molybdenum. FCX has a dynamic portfolio of operating, expansion and growth projects in the copper industry and is the world’s largest producer of molybdenum. The company’s portfolio of assets includes the Grasberg Minerals Disrict, the world’s largest copper and gold mine in terms of recoverable reserves; significant mining operations in the Americas, including the large scale Morenci and Safford minerals districts in North America and the Cerro Verde and El Abra operations in South America; and the potential world-class Tenke Fungurume development project in the Democratic Republic of Congo. Our common stock trades on the New York Stock Exchange under the symbol “FCX.” SUMMARY FINANCIAL HIGHLIGHTS Years Ended December 31, 2007 2006 2005 2004 2003 (In Millions, Except Per Share Amounts) Revenues $ 16,939 $ 5,791 $ 4,179 $ 2,372 $ 2,212 Operating income 6,555 2,869 2,177 704 823 Operating cash flows 6,225 1,866 1,552 341 572 Capital expenditures 1,755 251 143 141 139 Net income applicable to common stock 2,769 1,396 935 157 154 Diluted net income per common share 7.50 6.63 4.67 0.85 0.97 Dividends paid per common share 1.25 4.75 2.50 1.10 0.27 At December 31: Cash and cash equivalents 1,626 907 764 552 499 Total assets 40,661 5,390 5,550 5,087 4,718 Long-term debt, including current portion and short-term borrowings 7,211 680 1,256 1,952 2,228 Stockholders’ equity 18,234 2,445 1,843 1,164 776 TRANSFORMATION OF Freeport-MCMORAN Copper & Gold Inc.
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