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## Notes To Consolidated Financial Statements 

## Note 14. Quarterly Financial Information (Unaudited) 

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a. Includes losses on early extinguishment and conversion of debt totaling $14.4 million ($0.07 per share) in the first quarter and $13.8 million ($0.08 per basic share and $0.07 per diluted share) for the year, both partly offset by a $6.3 million ($0.03 per sh are) gain on reduction of interest expense for conversion of debt. 

b. Includes a $95.0 million gain from insurance proceeds related to the fourth-quarter 200 3 slippage and debris flow events at the Grasberg open pit and a $12.0 million charge related to Atlantic Copper’s workforce reduction plan. 

c. Includes a $48.8 million ($0.27 per basic share and $0.22 per diluted share) gain from insurance proceeds discussed in note b., a $20.4 million ($0.11 per basic share and $0.09 per diluted share) gain from the sale of a parcel of land in Arizona held by an FC X joint venture, a $7.5 million ($0.04 per basic share and $0.03 per diluted share) gain from Atlantic Copper’s sale of its wire rod and wire assets and a $12.0 million ($0.07 p er basic share and $0.05 per diluted share) charge related to Atlantic Copper’s work- force reduction plan. 

d. Includes a $9.1 million ($0.06 per share) gain for the cumulative effect of an accounti ng change associated with the adoption of SFAS No. 143 effective January 1, 2003 (see Note 1). 

e. Includes losses on early extinguishment and conversion of debt totaling $4.8 million ($ 0.03 per basic share and $0.02 per diluted share) in the second quarter, $25.1 million ($0.16 per basic share and $0.13 per diluted share) in the third quarter and $2.0 millio n ($0.01 per share) in the fourth quarter. 

f. Includes $24.7 million ($0.15 per basic share and $0.13 per diluted share) charge for the cumulative effect of an accounting change associated with the adoption of SFAS No. 150 effective July 1, 2003 (see Note 1). 

