Net income attributable to common stock totaled $821 million, $0.79 per share for third-quarter 2013, compared with net income of $824 million, $0.86 per share, for third-quarter 2012. Net income attributable to common stock for the first nine months of 2013 totaled $2.0 billion, $1.96 per share, compared with $2.3 billion, $2.41 per share, for the first nine months of 2012.
Consolidated sales for third-quarter 2013 totaled 1.04 billion pounds of copper, 305 thousand ounces of gold, 23 million pounds of molybdenum and 16.5 million barrels of oil equivalents (MMBOE). For the year 2013, sales are expected to approximate 4.1 billion pounds of copper, 1.1 million ounces of gold, 92 million pounds of molybdenum and 37.5 MMBOE (for the period from June 1, 2013 to December 31, 2013), including 1.1 billion pounds of copper, 390 thousand ounces of gold, 21 million pounds of molybdenum and 16 MMBOE for fourth-quarter 2013.
Average realized prices for third-quarter 2013 were $3.28 per pound for copper (compared with $3.64 per pound in third-quarter 2012), $1,329 per ounce for gold (compared with $1,728 per ounce in third-quarter 2012) and $104.33 per barrel for oil (excluding impacts of unrealized losses on derivative contracts).
Operating cash flows totaled $1.9 billion (net of $294 million in working capital uses and changes in other tax payments) for third-quarter 2013 and $3.7 billion (net of $489 million in working capital uses and changes in other tax payments) for the first nine months of 2013. Based on current sales volume and cost estimates and assuming average prices of $3.25 per pound for copper, $1,300 per ounce for gold, $9.50 per pound for molybdenum and $110 per barrel for Brent crude oil in fourth-quarter 2013, operating cash flows for the year 2013 are expected to approximate $6 billion (net of $0.3 billion of net working capital uses and changes in other tax payments).
Capital expenditures totaled $1.6 billion for third-quarter 2013 and $3.6 billion for the first nine months of 2013. Capital expenditures are expected to approximate $5.5 billion for the year 2013, including $2.4 billion for major projects at mining operations and $1.5 billion for oil and gas operations for the period from June 1, 2013 to December 31, 2013.
FCX is taking steps to achieve significant reductions and deferrals of capital expenditures, operating, exploration and other costs following its July 2013 announcement of $1.9 billion in targeted reductions for 2013 and 2014. FCX is reviewing its portfolio of assets for opportunities to accelerate its deleveraging plans through potential asset sales, joint venture transactions or further adjustments to capital spending plans.
At September 30, 2013, consolidated cash totaled $2.2 billion and consolidated debt totaled $21.1 billion. During third-quarter 2013, FCX paid $1.4 billion in common stock dividends, which included $1.0 billion for a supplemental dividend of $1.00 per share paid on July 1, 2013.