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QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Tables) | 12 Months Ended
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Dec. 31, 2013
Quarterly Financial Data [Abstract] |
Quarterly financial information |
| First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter |  | Year |
2013 |  |  |  |  |  |  |  |  |  |
Revenues | $ | 4,583 |  |  | $ | 4,288 |  | a | $ | 6,165 |  | a | $ | 5,885 |  | a | $ | 20,921 |  | a
Operating income | 1,355 |  | b | 639 |  | b | 1,707 |  | b | 1,650 |  | b,c | 5,351 |  | b,c
Net income | 824 |  |  | 610 |  | e | 1,048 |  |  | 959 |  | e | 3,441 |  | e
Net income attributable to noncontrolling |  |  |  |  |  |  |  |  |  |
interests | 176 |  |  | 128 |  |  | 227 |  |  | 252 |  |  | 783 |  |
Net income attributable to FCX common |  |  |  |  |  |  |  |  |  |
stockholders | 648 |  | b,d | 482 |  | a,b,d,e,f | 821 |  | a,b | 707 |  | a,b,c,d,e | 2,658 |  | a,b,c,d,e,f
Basic net income per share attributable |  |  |  |  |  |  |  |  |  |
to FCX common stockholders | 0.68 |  |  | 0.49 |  |  | 0.79 |  |  | 0.68 |  |  | 2.65 |  |
Diluted net income per share attributable |  |  |  |  |  |  |  |  |  |
to FCX common stockholders | 0.68 |  | b,d | 0.49 |  | a,b,d,e,f | 0.79 |  | a,b | 0.68 |  | a,b,c,d,e | 2.64 |  | a,b,c,d,e,f
2012 |  |  |  |  |  |  |  |  |  |
Revenues | $ | 4,605 |  |  | $ | 4,475 |  |  | $ | 4,417 |  |  | $ | 4,513 |  |  | $ | 18,010 |  |
Operating income | 1,734 |  |  | 1,311 |  |  | 1,411 |  |  | 1,358 |  | g,h | 5,814 |  | g,h
Net income | 1,001 |  |  | 894 |  |  | 1,140 |  | i | 945 |  |  | 3,980 |  | i
Net income attributable to noncontrolling |  |  |  |  |  |  |  |  |  |
interests | 237 |  |  | 184 |  |  | 316 |  | i | 202 |  |  | 939 |  | i
Net income attributable to FCX common |  |  |  |  |  |  |  |  |  |
stockholders | 764 |  | j | 710 |  |  | 824 |  | i | 743 |  | g,h | 3,041 |  | g,h,i,j
Basic net income per share attributable |  |  |  |  |  |  |  |  |  |
to FCX common stockholders | 0.81 |  |  | 0.75 |  |  | 0.87 |  |  | 0.78 |  |  | 3.20 |  |
Diluted net income per share attributable |  |  |  |  |  |  |  |  |  |
to FCX common stockholders | 0.80 |  | j | 0.74 |  |  | 0.86 |  | i | 0.78 |  | g,h | 3.19 |  | g,h,i,j
a. | Included charges of $36 million ($23 million to net income attributable to FCX common stockholders or $0.02 per share) in the second quarter, $158 million ($98 million to net income attributable to FCX common stockholders or $0.09 per share) in the third quarter, $118 million ($73 million to net income attributable to FCX common stockholders or $0.07 per share) in the fourth quarter and $312 million ($194 million to net income attributable to FCX common stockholders or $0.19 per share) for the year 2013 (reflecting the seven-month period from June 1, 2013, to December 31, 2013) for net unrealized and noncash realized losses on crude oil and natural gas derivative contracts.
b. | Included charges of $14 million ($10 million to net income attributable to FCX common stockholders or $0.01 per share) in the first quarter, $61 million ($36 million to net income attributable to FCX common stockholders or $0.04 per share) in the second quarter, $1 million ($1 million to net income attributable to FCX common stockholders) in the third quarter, $4 million ($3 million to net income attributable to FCX common stockholders) in the fourth quarter and $80 million ($50 million to net income attributable to FCX common stockholders or $0.05 per share) for the year for transaction and related costs principally associated with the acquisitions of PXP and MMR.
c. | Included charges in the fourth quarter and for the year of (i) $76 million ($49 million to net income attributable to FCX common stockholders or $0.05 per share) associated with updated mine plans at Morenci that resulted in a loss in recoverable copper in leach stockpiles, (ii) $37 million ($23 million to net income attributable to FCX common stockholders or $0.02 per share) associated with the restructuring of an executive employment arrangement and (iii) $36 million ($13 million to net income attributable to FCX common stockholders or $0.01 per share) associated with a new labor agreement at Cerro Verde.
d. | Included net losses (gains) on early extinguishment of debt totaling $40 million ($0.04 per share) in the first quarter, $(5) million ($(0.01) per share) in the second quarter for an adjustment related to taxes on the first quarter losses, $(7) million ($(0.01) per share) in the fourth quarter and $28 million ($0.03 per share) for the year. Refer to Note 8 for further discussion.
e. | Included a net tax benefit of $183 million ($0.19 per share) in the second quarter, $16 million ($0.01 per share) in the fourth quarter and $199 million ($0.20 per share) for the year associated with net reductions in FCX's deferred tax liabilities and deferred tax asset valuation allowances related to the acquisitions of PXP and MMR.
f. | Included a gain of $128 million ($0.13 per share) in the second quarter and for the year primarily related to FCX's preferred stock investment in and the subsequent acquisition of MMR.
g. | Included a gain of $59 million ($31 million to net income attributable to FCX common stockholders or $0.03 per share) in the fourth quarter and for the year for the settlement of the insurance claim for business interruption and property damage relating to the 2011 incidents affecting PT-FI's concentrate pipelines. Refer to Note 12 for further discussion.
h. | Included a charge of $16 million ($8 million to net income attributable to FCX common stockholders or $0.01 per share) in the fourth quarter and for the year associated with a labor agreement at Candelaria. Also included charges of $9 million ($7 million to net income attributable to FCX common stockholders or $0.01 per share) for costs associated with the PXP and MMR transactions.
i. | Included a net tax benefit of $208 million ($108 million attributable to noncontrolling interests and $100 million to net income attributable to FCX common stockholders or $0.11 per share) in the third quarter and $205 million ($107 million attributable to noncontrolling interests and $98 million to net income attributable to FCX common stockholders or $0.11 per share) for the year associated with adjustments to Cerro Verde's deferred income taxes. Refer to Note 11 for further discussion.
j. | Included losses on early extinguishment of debt totaling $149 million ($0.16 per share) in the first quarter and for the year. Refer to Note 8 for further discussion.

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