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QUARTERLY FINANCIAL INFORMATION (UNAUDITED) | 12 Months Ended
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Dec. 31, 2013
Quarterly Financial Data [Abstract] |
Quarterly Financial Information | QUARTERLY FINANCIAL INFORMATION (UNAUDITED)
| 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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- Definition The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e765-108305 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e725-108305 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=25249566&loc=d3e1280-108306 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a + Details
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