Stock Performance Graph
## Table 0 ##
* $100 invested on 11/17/11 in our stock or 10/31/11 in the relevant index, including reinvestment of dividends.
Fiscal year ending December 31, 2014.
(1) Delphi Automotive PLC (2) S&P 500 – Standard & Poor’s 500 Total Return Index (3) Automotive Supplier Peer Group – Russell 3000 Auto Parts Index, including American Axle & Manufacturing, BorgWarner Inc. , Cooper Tire & Rubber Company, Dana Holding Corp. , Delphi Automotive PLC, Dorman Products Inc. , Federal-Mogul Corp. , Ford Motor Co. , Fuel Systems Solutions Inc. , General Motors Co. , Gentex Corp. , Gentherm Inc. , Genuine Parts Co. , Johnson Controls Inc. , LKQ Corp. , Lear Corp. , Meritor Inc. , Remy International Inc. , Standard Motor Products Inc. , Stoneridge Inc. , Superior Industries International, TRW Automotive Holdings Corp. , Tenneco Inc. , Tesla Motors Inc. , The Goodyear Tire & Rubber Co. , Tower International Inc. , Visteon Corp. , and WABCO Holdings Inc.
Dividends On February 26, 2013, the Board of Directors approved the initiation of dividend payments on the Company's ordinary shares.
The Board of Directors declared a regular quarterly cash dividend of $0.17 per ordinary share that was paid in each quarter of 2013.
In January 2014, the Board of Directors increased the quarterly dividend rate to $0.25 per ordinary share, which was paid in each quarter of 2014.
In addition, in January 2015, the Board of Directors declared a regular quarterly cash dividend of $0.25 per ordinary share, payable on February 27, 2015 to shareholders of record at the close of business on February 18, 2015.
As further discussed in Note 13 and “Operations—Indonesia Mining,” PT Freeport Indonesia (PT-FI) continues to actively engage with Indonesian government officials to address regulatory changes that conflict with its contractual rights in a manner that provides long-term stability for PT-FI’s operations and investment plans, and protects value for our shareholders.
Following a framework understanding reached in August 2017, the parties have been engaged in negotiation and documentation of a special license (IUPK) and accompanying documentation for assurances on legal and fiscal terms to provide PT-FI with long-term rights through 2041.
In addition, the IUPK would provide that PT-FI construct a smelter within five years of reaching a definitive agreement and include agreement for the divestment of 51 percent of the project area interests to Indonesian participants at fair market value.
The parties continue to negotiate documentation on a comprehensive agreement for PT-FI’s extended operations and to reach agreement on timing, process and governance matters relating to the divestment.
The parties have a mutual objective of completing negotiations and the required documentation during the first half of 2018.
OUTLOOK We continue to view the long-term outlook for our business positively, supported by limitations on supplies of copper and by the requirements for copper in the world’s economy.
Our financial results vary as a result of fluctuations in market prices primarily for copper, gold and molybdenum, as well as other factors.
World market prices for these commodities have fluctuated historically and are affected by numerous factors beyond our control.
Because we cannot control the price of our products, the key measures that management focuses on in operating our business are sales volumes, unit net cash costs, operating cash flow and capital expenditures.
Refer to “Operations—Indonesia Mining” for further discussion of Indonesia regulatory matters, which could have a significant impact on future results.
Sales Volumes.
Following are projected consolidated sales volumes for 2018 and actual consolidated sales volumes from continuing operations for 2017:
## Table 1 ##
a.
Projected molybdenum sales include 35 million pounds produced by our Molybdenum mines and 56 million pounds produced by our North America and South America copper mines.
Consolidated sales for first-quarter 2018 are expected to approximate 1.0 billion pounds of copper, 675 thousand ounces of gold and 24 million pounds of molybdenum.
Projected sales volumes are dependent on operational performance and other factors.
For other important factors that could cause results to differ materially from projections, refer to “Cautionary Statement.
” Unit Net Cash Costs.
Assuming average prices of $1,300 per ounce of gold and $10.00 per pound of molybdenum for 2018 and achievement of current sales volume and cost estimates, consolidated unit net cash costs (net of by-product credits) for our copper mines are expected to average $0.97 per pound of copper in 2018.
The impact of price changes in 2018 on consolidated unit net cash costs would approximate $0.03 per pound for each $50 per ounce change in the average price of gold and $0.025 per pound for each $2 per pound change in the average price of molybdenum.
Quarterly unit net cash costs vary with fluctuations in sales volumes and realized prices, primarily for gold and molybdenum.
Refer to “Consolidated Results—Production and Delivery Costs” for further discussion of consolidated production costs for our mining operations.
Consolidated Operating Cash Flow.
Our consolidated operating cash flows vary with sales volumes, prices realized from copper, gold and molybdenum sales, production costs, income taxes, other working capital changes and other factors.
Based on current sales volume and cost estimates, and assuming average prices of $3.15 per pound of copper, $1,300 per ounce of gold and $10.00 per pound of molybdenum, our consolidated operating cash flows are estimated to exceed $5.8 billion in 2018 (including $0.3 billion in working capital sources and timing of other tax payments).
Estimated consolidated operating cash flows in 2018 also reflect a projected income tax provision of $2.2 billion (refer to “Consolidated Results—Income Taxes” for further discussion of our projected income tax rate for the year 2018).
The impact of price changes in 2018 on consolidated operating cash flows would approximate $360 million for each $0.10 per pound change in the average price of copper, $115 million for each $50 per ounce change in the average price of gold and $130 million for each $2 per pound change in the average price of molybdenum.
We have signed a 10-year, 20,000 BPD crude oil supply agreement with Newfield Exploration Company.
This agreement will supply black and yellow wax crude oil produced in the nearby Uinta Basin to the Woods Cross Refinery.
Upon completion of the expansion, the Woods Cross Refinery's capacity to process waxy crude is expected to double to approximately 24,000 BPD.
Markets and Competition The Cheyenne Refinery primarily markets its products in eastern Colorado, including metropolitan Denver, eastern Wyoming and western Nebraska.
Because of the location of the Cheyenne Refinery, we are able to sell a significant portion of its diesel directly from the truck rack at the refinery, therefore, eliminating transportation costs.
The Cheyenne Refinery ships refined products via the Magellan pipeline serving Denver and Colorado Springs, Colorado.
Denver Market The most competitive market for the Cheyenne Refinery is the Denver metropolitan area.
Three other refineries supply the Denver market: Wyoming refineries near Rawlins and in Casper owned by Sinclair and a refinery in Denver owned by Suncor.
Five product pipelines also supply Denver, including three from outside the region.
Utah Market The Woods Cross Refinery's primary market is Utah, which is currently supplied by a number of local refiners and the Pioneer Pipeline.
In addition to our Woods Cross Refinery, local area refiners include Chevron, Tesoro, Big West and Silver Eagle.
Other refiners that ship into the Woods Cross market via the Pioneer Pipeline include Sinclair, ExxonMobil, CHS and Phillips 66.
We estimate the four local refineries that compete with our Woods Cross Refinery have a combined capacity to process approximately 150,000 BPD of crude oil.
The five Utah refineries collectively supply an estimated 70% of the gasoline and distillate products consumed in the states of Utah and Idaho, with the remainder imported from refineries in Wyoming and Montana via the Pioneer Pipeline owned jointly by Sinclair and Phillips 66.
Approximately 40% - 45% of the gasoline and diesel fuel produced by our Woods Cross Refinery is sold through a network of Phillips 66 branded marketers under a long-term supply agreement.
Idaho, Wyoming, Eastern Washington and Nevada Markets We supply a small percentage of the refined products consumed in the combined Idaho, Wyoming, eastern Washington and Nevada markets.
Our Woods Cross Refinery ships refined products over a common carrier pipeline system owned by Tesoro Logistics Northwest Pipelines LLC (“Tesoro Logistics”) to numerous terminals, including HEP's terminal at Spokane, Washington and to terminals at Pocatello and Boise, Idaho and Pasco, Washington that are owned by Tesoro Logistics.
We sell to branded and unbranded customers in these markets.
In 2012, we began shipping refined products to Cedar City, Utah and Las Vegas, Nevada via the UNEV Pipeline.
The majority of the Las Vegas, Nevada market for refined products is supplied by various West Coast refiners and suppliers via Kinder Morgan's CalNev common carrier pipeline system.
Principal Products Set forth below is information regarding the principal products produced at our Cheyenne and Woods Cross Refineries:
## Table 2 ##
Crude Oil and Feedstock Supplies Crude oil is transported to the Cheyenne Refinery from suppliers in Canada, Colorado, Nebraska, North Dakota and Montana via common carrier pipelines owned by Spectra, Plains and Suncor Energy, as well as by truck.
The Woods Cross Refinery currently obtains crude oil from suppliers in Canada, Wyoming, Utah and Colorado as delivered via common carrier pipelines that originate in Canada, Wyoming and Colorado.
We also receive crude oil via the SLC Pipeline, a joint venture common carrier pipeline in which HEP owns a 25% interest.
Supplies of black wax crude oil are shipped via truck.
Other-Than-Temporary Impairments of Equity Securities For those equity securities classified as available for sale we record unrealized gains and losses to the extent cost is different from estimated fair value.
All securities with unrealized losses are subject to our review to identify other-than-temporary impairments in value.
In evaluating whether a decline in value is other-than-temporary, we consistently consider several factors including, but not limited to, the following: ?
the extent and the duration of the decline; including, but not limited to, the following general guidelines: ?
declines in value greater than 20%, maintained for six months or greater; ?
declines in value maintained for one year or greater; and ?
declines in value greater than 50%; ?
the reasons for the decline in value (issuer specific event, currency or market fluctuation); ?
our ability and intent to hold the investment for a period of time to allow for a recovery of value, including certain equity securities managed by independent third parties where we do not exercise management discretion concerning individual buy or sell decisions; and ?
the financial condition of and near-term prospects of the issuer.
We generally recognize other-than-temporary impairments for securities with declines in value greater than 50% maintained for six months or greater or with any decline in value maintained for one year or greater.
In addition, in making our determinations we continue to analyze the financial condition and near-term prospects of the issuer, including an assessment of the issuer’s capital position, and consider our ability and intent to hold the investment for a period of time to allow for a recovery of value.
For those securities that have declines in value that are deemed to be only temporary, we make an assertion as to our ability and intent to retain the security until recovery.
Once identified, these securities are restricted from trading unless authorized based upon events that could not have been foreseen at the time we asserted our ability and intent to retain the security until recovery.
Examples of such events include, but are not limited to, the deterioration of the issuer’s creditworthiness, a major business combination or disposition, a change in regulatory requirements, certain other portfolio actions or other similar events.
For those securities that have declines in value for which we cannot assert our ability and intent to retain until recovery, including certain equity securities managed by independent third parties where we do not exercise management discretion concerning individual buy or sell decisions, impairments are recognized as other-than-temporary regardless of the reason for, or the extent of, the decline.
For perpetual preferred securities, which have characteristics of both debt and equity securities, we apply an impairment model similar to our fixed maturity securities, factoring in the position of the security in the capital structure and the lack of a formal maturity date.
For additional discussion of our policies regarding other-than-temporary impairments of fixed maturity securities, see “—Fixed Maturity Securities—Other-Than-Temporary Impairments of Fixed Maturity Securities” above.
When we determine that there is an other-than-temporary impairment, we record a writedown to estimated fair value, which reduces the cost basis and is included in “Realized investment gains (losses), net.
” See Note 2 to the Consolidated Financial Statements for additional information regarding our policies around other-than-temporary impairments for equity securities.
See Note 20 to the Consolidated Financial Statements for information regarding the fair value methodology used for equity securities.
Impairments of equity securities attributable to the Financial Services Businesses were $78 million and $389 million for the years ended December 31, 2010, and 2009, respectively.
Impairments of equity securities attributable to the Closed Block Business were $34 million and $613 million for years ended December 31, 2010 and 2009, respectively.
For a further discussion of impairments, see “—Realized Investment Gains and Losses” above.
Other Long-Term Investments “Other long-term investments” are comprised as follows:
## Table 3 ##
(1) Primarily includes investment in an office building used by our Japanese insurance operations.
(2) Primarily includes derivatives and member and activity stock held in the Federal Home Loan Bank of New York and Boston.
For additional information regarding our holding in the Federal Home Loan Bank of New York and Boston, see Note 14 to the Consolidated Financial Statements.

<table><tr><td>Company Index</td><td>November 17, 2011</td><td>December 31, 2011</td><td>December 31, 2012</td><td>December 31, 2013</td><td>December 31, 2014</td></tr><tr><td>Delphi Automotive PLC -1</td><td>$100.00</td><td>$100.98</td><td>$179.33</td><td>$285.81</td><td>$350.82</td></tr><tr><td>S&P 500 -2</td><td>100.00</td><td>100.80</td><td>116.93</td><td>154.80</td><td>175.99</td></tr><tr><td>Automotive Supplier Peer Group -3</td><td>100.00</td><td>89.27</td><td>110.41</td><td>166.46</td><td>178.05</td></tr></table>
<table><tr><td></td><td>2018 (Projected)</td><td></td><td>2017 (Actual)</td></tr><tr><td>Copper(millions of recoverable pounds):</td><td></td><td></td><td></td></tr><tr><td>North America copper mines</td><td>1,495</td><td></td><td>1,484</td></tr><tr><td>South America mining</td><td>1,235</td><td></td><td>1,235</td></tr><tr><td>Indonesia mining</td><td>1,200</td><td></td><td>981</td></tr><tr><td>Total</td><td>3,930</td><td></td><td>3,700</td></tr><tr><td>Gold(thousands of recoverable ounces)</td><td>2,440</td><td></td><td>1,562</td></tr><tr><td>Molybdenum(millions of recoverable pounds)</td><td>91</td><td><sup>a</sup></td><td>95</td></tr></table>
<table><tr><td></td><td colspan="3">Years Ended December 31,</td></tr><tr><td></td><td>2015</td><td>2014</td><td>2013</td></tr><tr><td>Rocky Mountain Region (Cheyenne and Woods Cross Refineries)</td><td></td><td></td><td></td></tr><tr><td>Sales of produced refined products:</td><td></td><td></td><td></td></tr><tr><td>Gasolines</td><td>57%</td><td>56%</td><td>56%</td></tr><tr><td>Diesel fuels</td><td>36%</td><td>33%</td><td>30%</td></tr><tr><td>Jet fuels</td><td>—%</td><td>—%</td><td>1%</td></tr><tr><td>Fuel oil</td><td>3%</td><td>1%</td><td>1%</td></tr><tr><td>Asphalt</td><td>2%</td><td>5%</td><td>5%</td></tr><tr><td>LPG and other</td><td>2%</td><td>5%</td><td>7%</td></tr><tr><td>Total</td><td>100%</td><td>100%</td><td>100%</td></tr></table>
<table><tr><td></td><td colspan="2"> December 31, 2010</td><td colspan="2"> December 31, 2009</td></tr><tr><td></td><td> Financial Services Businesses</td><td> Closed Block Business</td><td> Financial Services Businesses</td><td> Closed Block Business</td></tr><tr><td></td><td colspan="4"> (in millions)</td></tr><tr><td>Joint ventures and limited partnerships:</td><td></td><td></td><td></td><td></td></tr><tr><td>Real estate related</td><td>$163</td><td>$361</td><td>$331</td><td>$338</td></tr><tr><td>Non-real estate related</td><td>1,070</td><td>1,162</td><td>816</td><td>1,049</td></tr><tr><td>Real estate held through direct ownership -1</td><td>1,141</td><td>1</td><td>1,055</td><td>0</td></tr><tr><td>Other -2</td><td>614</td><td>58</td><td>609</td><td>158</td></tr><tr><td>Total other long-term investments</td><td>$2,988</td><td>$1,582</td><td>$2,811</td><td>$1,545</td></tr></table>

Question: What's the sum of all Real estate related that are positive in 2009 and 2010 for Financial Services Businesses
Answer: 494.0