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ACQUISITIONS (Tables) | 12 Months Ended
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Dec. 31, 2013
Acquisitions [Abstract] |
Schedule of Business Acquisitions by Acquisition, Equity Interest Issued or Issuable [Table Text Block] | Following is a summary of the $3.1 billion purchase price for MMR:
Number of shares of MMR common stock acquired (millions) | 112.362 |  | a
Cash consideration of $14.75 per share | $ | 14.75 |  |
Cash consideration paid by FCX | $ | 1,657 |  |
Employee stock-based awards | 63 |  |
Total | 1,720 |  |
Fair value of FCX's investment in 51 million shares of MMR common stock acquired on |  |
May 31, 2013, through the acquisition of PXP | 854 |  |
Fair value of FCX's investment in MMR's 5.75% Convertible Perpetual Preferred Stock, Series 2 | 554 |  |
Total purchase price | $ | 3,128 |  |
a. | Excluded 51 million shares of MMR common stock owned by FCX through its acquisition of PXP on May 31, 2013.
Following is a summary of the $6.6 billion purchase price for PXP:
Number of shares of PXP common stock acquired (millions) | 132.280 |  |
Exchange ratio of FCX common stock for each PXP share | 0.6531 |  |
| 86.392 |  |
Shares of FCX common stock issued for certain PXP equity awards (millions) | 4.769 |  |
Total shares of FCX common stock issued (millions) | 91.161 |  |
Closing share price of FCX common stock at May 31, 2013 | $ | 31.05 |  |
FCX stock consideration | $ | 2,831 |  |
Cash consideration | 3,725 |  | a
Employee stock-based awards, primarily cash-settled stock-based awards | 83 |  |
Total purchase price | $ | 6,639 |  |
a. | Cash consideration included the payment of $25.00 in cash for each PXP share ($3.3 billion), cash paid in lieu of any fractional shares of FCX common stock, cash paid for certain equity awards ($7 million), and the value of the $3 per share PXP special cash dividend ($411 million) paid on May 31, 2013.
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The following table summarizes the preliminary purchase price allocations for PXP and MMR as of December 31, 2013:
| PXP |  | MMR |  | Eliminations |  | Total
Current assets | $ | 1,193 |  |  | $ | 98 |  |  | $ | — |  |  | $ | 1,291 |
Oil and gas properties - full cost method: |  |  |  |  |  |  |
Subject to amortization | 11,447 |  |  | 756 |  |  | — |  |  | 12,203 |
Not subject to amortization. | 9,401 |  |  | 1,686 |  |  | — |  |  | 11,087 |
Property, plant and equipment | 261 |  |  | 1 |  |  | — |  |  | 262 |
Investment in MMR a | 848 |  |  | — |  |  | (848 | ) |  | — |
Other assets | 12 |  |  | 423 |  |  | — |  |  | 435 |
Current liabilities | (906 | ) |  | (174 | ) |  | — |  |  | (1,080 | )
Debt (current and long-term) | (10,631 | ) |  | (620 | ) |  | — |  |  | (11,251 | )
Deferred income taxes b | (3,916 | ) |  | — |  |  | — |  |  | (3,916 | )
Other long-term liabilities | (799 | ) |  | (262 | ) |  | — |  |  | (1,061 | )
Redeemable noncontrolling interest | (708 | ) |  | (259 | ) |  | — |  |  | (967 | )
Total fair value, excluding goodwill | 6,202 |  |  | 1,649 |  |  | (848 | ) |  | 7,003 |
Goodwill c | 437 |  |  | 1,479 |  |  | — |  |  | 1,916 |
Total purchase price | $ | 6,639 |  |  | $ | 3,128 |  |  | $ | (848 | ) |  | $ | 8,919 |
a. | PXP owned 51 million shares of MMR common stock, which was eliminated in FCX's consolidated balance sheet at the acquisition date of MMR.
b. | Deferred income taxes have been recognized based on the estimated fair value adjustments to net assets using a 38 percent tax rate, which reflected the 35 percent federal statutory rate and a 3 percent weighted-average of the applicable statutory state tax rates (net of federal benefit).
c. | During the fourth quarter of 2013, FCX conducted a qualitative goodwill impairment assessment by examining relevant events and circumstances that could have a negative impact on FCX's goodwill, such as macroeconomic conditions, industry and market conditions, cost factors that have a negative effect on earnings and cash flows, overall financial performance, dispositions and acquisitions, and any other relevant events or circumstances. After assessing the relevant events and circumstances for the qualitative impairment assessment, FCX determined that performing a quantitative goodwill impairment test was unnecessary, and no goodwill impairment was recognized.
Schedule Of Adjustments To Recognized Identified Assets Acquired And Liabilities Assumed [Table Text Block] | A summary of the 2013 adjustments to the initial fair values assigned to assets acquired, liabilities assumed and redeemable noncontrolling interest from the acquisitions follows:
|  | PXP |  | MMR |  | Total
Increase in current assets (primarily current deferred income tax asset) |  | $ | 183 |  |  | $ | 2 |  |  | $ | 185 |
Decreases in oil and gas properties - full cost method: |  |  |  |  |  |
Subject to amortization |  | — |  |  | (45 | ) |  | (45 | )
Not subject to amortization |  | (234 | ) |  | (6 | ) |  | (240 | )
Increase in other assets (deferred income tax asset) |  | — |  |  | 24 |  |  | 24 |
Net increase in deferred income tax liability |  | (45 | ) |  | — |  |  | (45 | )
Net decrease (increase) in other liabilities (primarily warrants) |  | 77 |  |  | (4 | ) |  | 73 |
Decrease in redeemable noncontrolling interest |  | 41 |  |  | — |  |  | 41 |
(Decrease) increase in goodwill |  | (17 | ) |  | 29 |  |  | 12 |
Business Acquisition, Pro Forma Information [Table Text Block] | The historical consolidated financial information has been adjusted to reflect factually supportable items that are directly attributable to the acquisitions.
| Years Ended December 31, |
| 2013 |  | 2012 |
Revenues | $ | 23,075 |  |  | $ | 22,713 |  |
Operating income | 6,267 |  |  | 6,815 |  |
Income from continuing operations | 3,626 |  |  | 4,277 |  |
Net income attributable to FCX common stockholders | 2,825 |  |  | 3,301 |  |
Net income per share attributable to FCX common stockholders: |  |  |  |
Basic | $ | 2.71 |  |  | $ | 3.17 |  |
Diluted | 2.70 |  |  | 3.16 |  |

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- Definition Tabular disclosure of the adjusments during the period to amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References No definition available. + Details
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