Abstract: A rotary cutter cone type drill bit having a body structure with a plurality of depending cutter support lugs each having a spindle integral therewith and defining a cylindrical bushing support surface and a spindle head. A cutter cone is positioned for rotation about each of the spindles and is supported for rotation and axial retention by a dual split bushing arrangement. The dual split bushing arrangement has an inner split bushing received in immovable relation about the cylindrical bushing support surface of the spindle and outer split bushing being received in rotatable bearing relation about a portion of the inner split bushing and functioning to retain the inner split bushing about the cylindrical bushing support surface. The inner split bushing also retains the outer split bushing so that the cutter cone is maintained in assembly with the spindle. The outer split bushing is secured in immovable relation within the cutter cone by a lock element or by threaded connection.