FREEPORT MCMORAN COPPER & GOLD INC | 2013 | FY | 3


A summary of changes in environmental obligations for the years ended December 31 follows:
 
2013
 
2012
 
2011
Balance at beginning of year
$
1,222

 
$
1,453

 
$
1,422

Accretion expensea
79

 
80

 
88

Additions
73

 
70

 
132

Reductionsb
(77
)
 
(182
)
 
(68
)
Spending
(130
)
 
(199
)
 
(121
)
Balance at end of year
1,167

 
1,222

 
1,453

Less current portion
(121
)
 
(186
)
 
(205
)
Long-term portion
$
1,046

 
$
1,036

 
$
1,248

a.
Represented accretion of the fair value of environmental obligations assumed in the 2007 acquisition of FMC, which were determined on a discounted cash flow basis.
b.
Reductions primarily reflected revisions for changes in the anticipated scope and timing of environmental remediation projects and the noncash adjustments of environmental matters.

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