Quantitative and Qualitative Disclosures About Market Risk.
−Removed: There have been no material changes in our market risks during the three -month period ended March 31, 2020 .
−Removed: In April 2020, FCX entered into copper forward sales contracts to hedge the market risk associated with fluctuations in the price of copper.
−Removed: Refer to Note 6 to our financial statements included herein for additional information on this program.
+Added: There have been no material changes in our market risks during the six -month period ended June 30, 2020 .
+Added: In April 2020, FCX entered into copper forward sales contracts covering 150 million pounds of copper sales for May and June 2020 at a fixed price of $2.34 per pound of copper to hedge the market risk associated with fluctuations in the price of copper.
+Added: As discussed in Note 6 of our financial statements included herein, our revenues for the first six months of 2020 were reduced by $24 million associated with these forward sales contracts.
+Added: There are no remaining forward sales contracts.
For additional information on market risks, refer to “Disclosures About Market Risks” included in Part II, Items 7.
1 unchanged sentence
For projected sensitivities of our operating cash flow to changes in commodity prices, refer to “Outlook” in Part I, Item 2.
−Removed: of this quarterly report on Form 10-Q for the period ended March 31, 2020 ;
+Added: of this quarterly report on Form 10-Q for the period ended June 30, 2020 ;
for projected sensitivities of our provisionally priced copper sales to changes in commodity prices refer to “Consolidated Results – Revenues” in Part I, Item 2.
−Removed: of this quarterly report on Form 10-Q for the period ended March 31, 2020 .
+Added: of this quarterly report on Form 10-Q for the period ended June 30, 2020 .
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.