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Guarantor Financial Statements (Unaudited) (Tables) | 6 Months Ended
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Jun. 30, 2014
Guarantor Financial Statements [Abstract] |
Condensed Consolidating Balance Sheets [Table Text Block] | CONDENSED CONSOLIDATING BALANCE SHEET June 30, 2014
| FCX |  | FM O&G LLC |  | Non-guarantor |  |  |  | Consolidated
| Issuer |  | Guarantor |  | Subsidiaries |  | Eliminations |  | FCX
ASSETS |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | — |  |  | $ | 1 |  |  | $ | 1,457 |  |  | $ | — |  |  | $ | 1,458 |
Accounts receivable | 388 |  |  | 2,840 |  |  | 2,466 |  |  | (2,936 | ) |  | 2,758 |
Other current assets | 78 |  |  | 56 |  |  | 5,904 |  |  | — |  |  | 6,038 |
Total current assets | 466 |  |  | 2,897 |  |  | 9,827 |  |  | (2,936 | ) |  | 10,254 |
Property, plant, equipment and mining development costs, net | 25 |  |  | 45 |  |  | 25,337 |  |  | — |  |  | 25,407 |
Oil and gas properties, net - full cost method: |  |  |  |  |  |  |  |  |
Subject to amortization, less accumulated amortization | — |  |  | 4,583 |  |  | 6,460 |  |  | 14 |  |  | 11,057 |
Not subject to amortization | — |  |  | 1,853 |  |  | 8,916 |  |  | — |  |  | 10,769 |
Investments in consolidated subsidiaries | 32,769 |  |  | 10,107 |  |  | 11,416 |  |  | (54,292 | ) |  | — |
Goodwill | — |  |  | 217 |  |  | 1,500 |  |  | — |  |  | 1,717 |
Other assets | 6,346 |  |  | 3,432 |  |  | 4,241 |  |  | (9,214 | ) |  | 4,805 |
Total assets | $ | 39,606 |  |  | $ | 23,134 |  |  | $ | 67,697 |  |  | $ | (66,428 | ) |  | $ | 64,009 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |
Current liabilities | $ | 1,550 |  |  | $ | 1,026 |  |  | $ | 6,088 |  |  | $ | (1,106 | ) |  | $ | 7,558 |
Long-term debt, less current portion | 12,435 |  |  | 6,762 |  |  | 5,885 |  |  | (7,570 | ) |  | 17,512 |
Deferred income taxes | 4,244 |  | a | — |  |  | 3,207 |  |  | — |  |  | 7,451 |
Environmental and asset retirement obligations, less current portion | — |  |  | 291 |  |  | 3,003 |  |  | — |  |  | 3,294 |
Other liabilities | 46 |  |  | 3,457 |  |  | 1,753 |  |  | (3,474 | ) |  | 1,782 |
Total liabilities | 18,275 |  |  | 11,536 |  |  | 19,936 |  |  | (12,150 | ) |  | 37,597 |
Redeemable noncontrolling interest | — |  |  | — |  |  | 745 |  |  | — |  |  | 745 |
Equity: |  |  |  |  |  |  |  |  |
Stockholders' equity | 21,331 |  |  | 11,598 |  |  | 43,140 |  |  | (54,737 | ) |  | 21,332 |
Noncontrolling interests | — |  |  | — |  |  | 3,876 |  |  | 459 |  |  | 4,335 |
Total equity | 21,331 |  |  | 11,598 |  |  | 47,016 |  |  | (54,278 | ) |  | 25,667 |
Total liabilities and equity | $ | 39,606 |  |  | $ | 23,134 |  |  | $ | 67,697 |  |  | $ | (66,428 | ) |  | $ | 64,009 |
a. | All U.S. related deferred income taxes are recorded at the parent company.
CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2013
| FCX |  | FM O&G LLC |  | Non-guarantor |  |  |  | Consolidated
| Issuer |  | Guarantor |  | Subsidiaries |  | Eliminations |  | FCX
ASSETS |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | — |  |  | $ | — |  |  | $ | 1,985 |  |  | $ | — |  |  | $ | 1,985 |
Accounts receivable | 855 |  |  | 659 |  |  | 2,258 |  |  | (1,210 | ) |  | 2,562 |
Other current assets | 114 |  |  | 38 |  |  | 5,273 |  |  | — |  |  | 5,425 |
Total current assets | 969 |  |  | 697 |  |  | 9,516 |  |  | (1,210 | ) |  | 9,972 |
Property, plant, equipment and mining development costs, net | 27 |  |  | 43 |  |  | 23,972 |  |  | — |  |  | 24,042 |
Oil and gas properties, net - full cost method: |  |  |  |  |  |  |  |  |
Subject to amortization, less accumulated amortization | — |  |  | 6,207 |  |  | 6,265 |  |  | — |  |  | 12,472 |
Not subject to amortization | — |  |  | 2,649 |  |  | 8,238 |  |  | — |  |  | 10,887 |
Investments in consolidated subsidiaries | 31,162 |  |  | 9,712 |  |  | 12,468 |  |  | (53,342 | ) |  | — |
Goodwill | — |  |  | 437 |  |  | 1,479 |  |  | — |  |  | 1,916 |
Other assets | 7,126 |  |  | 4,640 |  |  | 4,128 |  |  | (11,710 | ) |  | 4,184 |
Total assets | $ | 39,284 |  |  | $ | 24,385 |  |  | $ | 66,066 |  |  | $ | (66,262 | ) |  | $ | 63,473 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |
Current liabilities | $ | 1,003 |  |  | $ | 758 |  |  | $ | 4,222 |  |  | $ | (1,210 | ) |  | $ | 4,773 |
Long-term debt, less current portion | 13,184 |  |  | 7,199 |  |  | 8,056 |  |  | (8,045 | ) |  | 20,394 |
Deferred income taxes | 4,137 |  | a | — |  |  | 3,273 |  |  | — |  |  | 7,410 |
Environmental and asset retirement obligations, less current portion | — |  |  | 301 |  |  | 2,958 |  |  | — |  |  | 3,259 |
Other liabilities | 26 |  |  | 3,436 |  |  | 1,893 |  |  | (3,665 | ) |  | 1,690 |
Total liabilities | 18,350 |  |  | 11,694 |  |  | 20,402 |  |  | (12,920 | ) |  | 37,526 |
Redeemable noncontrolling interest | — |  |  | — |  |  | 716 |  |  | — |  |  | 716 |
Equity: |  |  |  |  |  |  |  |  |
Stockholders' equity | 20,934 |  |  | 12,691 |  |  | 41,100 |  |  | (53,791 | ) |  | 20,934 |
Noncontrolling interests | — |  |  | — |  |  | 3,848 |  |  | 449 |  |  | 4,297 |
Total equity | 20,934 |  |  | 12,691 |  |  | 44,948 |  |  | (53,342 | ) |  | 25,231 |
Total liabilities and equity | $ | 39,284 |  |  | $ | 24,385 |  |  | $ | 66,066 |  |  | $ | (66,262 | ) |  | $ | 63,473 |
a. | All U.S. related deferred income taxes are recorded at the parent company.
Condensed Consolidating Statements of Income [Table Text Block] | CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME Three and Six Months Ended June 30, 2014
Three Months Ended June 30, 2014 |  |  |  |  |  |  |  |  |
| FCX |  | FM O&G LLC |  | Non-guarantor |  |  |  | Consolidated
| Issuer |  | Guarantor |  | Subsidiaries |  | Eliminations |  | FCX
Revenues | $ | — |  |  | $ | 570 |  |  | $ | 4,952 |  |  | $ | — |  |  | $ | 5,522 |
Total costs and expenses | 21 |  |  | 489 |  |  | 3,865 |  |  | (6 | ) |  | 4,369 |
Operating (loss) income | (21 | ) |  | 81 |  |  | 1,087 |  |  | 6 |  |  | 1,153 |
Interest expense, net | (87 | ) |  | (44 | ) |  | (51 | ) |  | 18 |  |  | (164 | )
Net (loss) gain on early extinguishment of debt | (1 | ) |  | 6 |  |  | — |  |  | — |  |  | 5 |
Other income (expense), net | 17 |  |  | 1 |  |  | (8 | ) |  | (18 | ) |  | (8 | )
Benefit from (provision for) income taxes | 26 |  |  | 26 |  |  | (378 | ) |  | (2 | ) |  | (328 | )
Equity in affiliated companies' net earnings (losses) | 548 |  |  | 126 |  |  | 154 |  |  | (826 | ) |  | 2 |
Net income (loss) | 482 |  |  | 196 |  |  | 804 |  |  | (822 | ) |  | 660 |
Net income and preferred dividends attributable to noncontrolling interests | — |  |  | — |  |  | (180 | ) |  | 2 |  |  | (178 | )
Net income (loss) attributable to FCX common stockholders | $ | 482 |  |  | $ | 196 |  |  | $ | 624 |  |  | $ | (820 | ) |  | $ | 482 |
Other comprehensive income | — |  |  | — |  |  | 1 |  |  | — |  |  | 1 |
Total comprehensive income (loss) | $ | 482 |  |  | $ | 196 |  |  | $ | 625 |  |  | $ | (820 | ) |  | $ | 483 |
Six Months Ended June 30, 2014 |  |  |  |  |  |  |  |  |
| FCX |  | FM O&G LLC |  | Non-guarantor |  |  |  | Consolidated
| Issuer |  | Guarantor |  | Subsidiaries |  | Eliminations |  | FCX
Revenues | $ | — |  |  | $ | 1,214 |  |  | $ | 9,293 |  |  | $ | — |  |  | $ | 10,507 |
Total costs and expenses | 32 |  |  | 1,015 |  |  | 7,204 |  |  | (8 | ) |  | 8,243 |
Operating (loss) income | (32 | ) |  | 199 |  |  | 2,089 |  |  | 8 |  |  | 2,264 |
Interest expense, net | (169 | ) |  | (85 | ) |  | (109 | ) |  | 38 |  |  | (325 | )
Net (loss) gain on early extinguishment of debt | (1 | ) |  | 6 |  |  | — |  |  | — |  |  | 5 |
Other income (expense), net | 37 |  |  | 1 |  |  | 25 |  |  | (38 | ) |  | 25 |
Benefit from (provision for) income taxes | 5 |  |  | (17 | ) |  | (670 | ) |  | (3 | ) |  | (685 | )
Equity in affiliated companies' net earnings (losses) | 1,152 |  |  | 256 |  |  | 339 |  |  | (1,745 | ) |  | 2 |
Net income (loss) | 992 |  |  | 360 |  |  | 1,674 |  |  | (1,740 | ) |  | 1,286 |
Net income and preferred dividends attributable to noncontrolling interests | — |  |  | — |  |  | (291 | ) |  | (3 | ) |  | (294 | )
Net income (loss) attributable to FCX common stockholders | $ | 992 |  |  | $ | 360 |  |  | $ | 1,383 |  |  | $ | (1,743 | ) |  | $ | 992 |
Other comprehensive income | — |  |  | — |  |  | 4 |  |  | — |  |  | 4 |
Total comprehensive income (loss) | $ | 992 |  |  | $ | 360 |  |  | $ | 1,387 |  |  | $ | (1,743 | ) |  | $ | 996 |
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME Three and Six Months Ended June 30, 2013
Three Months Ended June 30, 2013 |  |  |  |  |  |  |  |  |
| FCX |  | FM O&G LLC |  | Non-guarantor |  |  |  | Consolidated
| Issuer |  | Guarantor |  | Subsidiaries |  | Eliminations |  | FCX
Revenues | $ | — |  |  | $ | 162 |  |  | $ | 4,126 |  |  | $ | — |  |  | $ | 4,288 |
Total costs and expenses | 76 |  |  | 135 |  |  | 3,438 |  |  | — |  |  | 3,649 |
Operating (loss) income | (76 | ) |  | 27 |  |  | 688 |  |  | — |  |  | 639 |
Interest expense, net | (92 | ) |  | (12 | ) |  | (39 | ) |  | 11 |  |  | (132 | )
Gain on investment in MMR | 128 |  |  | — |  |  | — |  |  | — |  |  | 128 |
Other income (expense), net | 11 |  |  | — |  |  | 13 |  |  | (11 | ) |  | 13 |
Benefit from (provision for) income taxes | 35 |  |  | (5 | ) |  | (70 | ) |  | — |  |  | (40 | )
Equity in affiliated companies' net earnings (losses) | 476 |  |  | 20 |  |  | (3 | ) |  | (491 | ) |  | 2 |
Net income (loss) | 482 |  |  | 30 |  |  | 589 |  |  | (491 | ) |  | 610 |
Net income and preferred dividends attributable to noncontrolling interests | — |  |  | — |  |  | (133 | ) |  | 5 |  |  | (128 | )
Net income (loss) attributable to FCX common stockholders | $ | 482 |  |  | $ | 30 |  |  | $ | 456 |  |  | $ | (486 | ) |  | $ | 482 |
Other comprehensive income | — |  |  | — |  |  | 5 |  |  | — |  |  | 5 |
Total comprehensive income (loss) | $ | 482 |  |  | $ | 30 |  |  | $ | 461 |  |  | $ | (486 | ) |  | $ | 487 |
Six Months Ended June 30, 2013 |  |  |  |  |  |  |  |  |
| FCX |  | FM O&G LLC |  | Non-guarantor |  |  |  | Consolidated
| Issuer |  | Guarantor |  | Subsidiaries |  | Eliminations |  | FCX
Revenues | $ | — |  |  | $ | 162 |  |  | $ | 8,709 |  |  | $ | — |  |  | $ | 8,871 |
Total costs and expenses | 95 |  |  | 135 |  |  | 6,647 |  |  | — |  |  | 6,877 |
Operating (loss) income | (95 | ) |  | 27 |  |  | 2,062 |  |  | — |  |  | 1,994 |
Interest expense, net | (128 | ) |  | (12 | ) |  | (64 | ) |  | 15 |  |  | (189 | )
Losses on early extinguishment of debt | (45 | ) |  | — |  |  | — |  |  | — |  |  | (45 | )
Gain on investment in MMR | 128 |  |  | — |  |  | — |  |  | — |  |  | 128 |
Other income (expense), net | 15 |  |  | — |  |  | 10 |  |  | (15 | ) |  | 10 |
Benefit from (provision for) income taxes | 26 |  |  | (5 | ) |  | (489 | ) |  | — |  |  | (468 | )
Equity in affiliated companies' net earnings (losses) | 1,229 |  |  | 20 |  |  | (46 | ) |  | (1,199 | ) |  | 4 |
Net income (loss) | 1,130 |  |  | 30 |  |  | 1,473 |  |  | (1,199 | ) |  | 1,434 |
Net income and preferred dividends attributable to noncontrolling interests | — |  |  | — |  |  | (292 | ) |  | (12 | ) |  | (304 | )
Net income (loss) attributable to FCX common stockholders | $ | 1,130 |  |  | $ | 30 |  |  | $ | 1,181 |  |  | $ | (1,211 | ) |  | $ | 1,130 |
Other comprehensive income | — |  |  | — |  |  | 11 |  |  | — |  |  | 11 |
Total comprehensive income (loss) | $ | 1,130 |  |  | $ | 30 |  |  | $ | 1,192 |  |  | $ | (1,211 | ) |  | $ | 1,141 |
Condensed Consolidating Statements of Cash Flows [Table Text Block] | CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Six Months Ended June 30, 2014
| FCX |  | FM O&G LLC |  | Non-guarantor |  |  |  | Consolidated
| Issuer |  | Guarantor |  | Subsidiaries |  | Eliminations |  | FCX
Cash flow from operating activities: |  |  |  |  |  |  |  |  |
Net income (loss) | $ | 992 |  |  | $ | 360 |  |  | $ | 1,674 |  |  | $ | (1,740 | ) |  | $ | 1,286 |
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities: |  |  |  |  |  |  |  |  |
Depreciation, depletion and amortization | 2 |  |  | 545 |  |  | 1,440 |  |  | (8 | ) |  | 1,979 |
Net losses on crude oil and natural gas derivative contracts | — |  |  | 120 |  |  | — |  |  | — |  |  | 120 |
Net gain (loss) on early extinguishment of debt | 1 |  |  | (6 | ) |  | — |  |  | — |  |  | (5 | )
Equity in (earnings) losses of consolidated subsidiaries | (1,152 | ) |  | (256 | ) |  | 39 |  |  | 1,367 |  |  | (2 | )
Other, net | 121 |  |  | (12 | ) |  | (123 | ) |  | — |  |  | (14 | )
(Increases) decreases in working capital and changes in other tax payments | (164 | ) |  | (2,165 | ) |  | 1,552 |  |  | — |  |  | (777 | )
Net cash (used in) provided by operating activities | (200 | ) |  | (1,414 | ) |  | 4,582 |  |  | (381 | ) |  | 2,587 |
Cash flow from investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (897 | ) |  | (2,665 | ) |  | — |  |  | (3,562 | )
Acquisition of Deepwater GOM interest | — |  |  | — |  |  | (925 | ) |  | — |  |  | (925 | )
Intercompany loans | 1,318 |  |  | 1,629 |  |  | — |  |  | (2,947 | ) |  | — |
Investment in consolidated subsidiary | (364 | ) |  | (96 | ) |  | 1,079 |  |  | (619 | ) |  | — |
Net proceeds from sale of Eagle Ford shale assets | — |  |  | 3,009 |  |  | — |  |  | — |  |  | 3,009 |
Other, net | — |  |  | (381 | ) |  | 18 |  |  | — |  |  | (363 | )
Net cash provided by (used in) investing activities | 954 |  |  | 3,264 |  |  | (2,493 | ) |  | (3,566 | ) |  | (1,841 | )
Cash flow from financing activities: |  |  |  |  |  |  |  |  |
Proceeds from debt | 890 |  |  | — |  |  | 358 |  |  | — |  |  | 1,248 |
Repayments of debt | (990 | ) |  | (224 | ) |  | (397 | ) |  | — |  |  | (1,611 | )
Intercompany loans | — |  |  | (170 | ) |  | (2,777 | ) |  | 2,947 |  |  | — |
Cash dividends and distributions paid | (653 | ) |  | (1,453 | ) |  | 203 |  |  | 1,000 |  |  | (903 | )
Other, net | (1 | ) |  | (2 | ) |  | (4 | ) |  | — |  |  | (7 | )
Net cash (used in) provided by financing activities | (754 | ) |  | (1,849 | ) |  | (2,617 | ) |  | 3,947 |  |  | (1,273 | )
Net increase (decrease) in cash and cash equivalents | — |  |  | 1 |  |  | (528 | ) |  | — |  |  | (527 | )
Cash and cash equivalents at beginning of period | — |  |  | — |  |  | 1,985 |  |  | — |  |  | 1,985 |
Cash and cash equivalents at end of period | $ | — |  |  | $ | 1 |  |  | $ | 1,457 |  |  | $ | — |  |  | $ | 1,458 |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Six Months Ended June 30, 2013
| FCX |  | FM O&G LLC |  | Non-guarantor |  |  |  | Consolidated
| Issuer |  | Guarantor |  | Subsidiaries |  | Eliminations |  | FCX
Cash flow from operating activities: |  |  |  |  |  |  |  |  |
Net income (loss) | $ | 1,130 |  |  | $ | 30 |  |  | $ | 1,473 |  |  | $ | (1,199 | ) |  | $ | 1,434 |
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities: |  |  |  |  |  |  |  |  |
Depreciation, depletion and amortization | 2 |  |  | 79 |  |  | 772 |  |  | 6 |  |  | 859 |
Net loss on early extinguishment of debt | 45 |  |  | — |  |  | — |  |  | — |  |  | 45 |
Gain on investment in MMR | (128 | ) |  | — |  |  | — |  |  | — |  |  | (128 | )
Net losses on crude oil and natural gas derivative contracts | — |  |  | 35 |  |  | — |  |  | — |  |  | 35 |
Equity in (earnings) losses of consolidated subsidiaries | (1,229 | ) |  | (20 | ) |  | 52 |  |  | 1,193 |  |  | (4 | )
Other, net | 27 |  |  | (6 | ) |  | (202 | ) |  | — |  |  | (181 | )
Decreases (increases) in working capital and changes in other tax payments, excluding amounts from acquisitions | 142 |  |  | 31 |  |  | (368 | ) |  | — |  |  | (195 | )
Net cash (used in) provided by operating activities | (11 | ) |  | 149 |  |  | 1,727 |  |  | — |  |  | 1,865 |
Cash flow from investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (151 | ) |  | (1,827 | ) |  | — |  |  | (1,978 | )
Acquisitions, net of cash acquired | (5,437 | ) |  | — |  |  | (321 | ) |  | 344 |  |  | (5,414 | )
Investment in consolidated subsidiary | 104 |  |  | — |  |  | — |  |  | (104 | ) |  | — |
Other, net | (5 | ) |  | — |  |  | (259 | ) |  | — |  |  | (264 | )
Net cash (used in) provided by investing activities | (5,338 | ) |  | (151 | ) |  | (2,407 | ) |  | 240 |  |  | (7,656 | )
Cash flow from financing activities: |  |  |  |  |  |  |  |  |
Proceeds from debt | 10,885 |  |  | — |  |  | 136 |  |  | — |  |  | 11,021 |
Repayments of debt | (4,050 | ) |  | (415 | ) |  | (76 | ) |  | — |  |  | (4,541 | )
Intercompany loans | (476 | ) |  | 476 |  |  | 344 |  |  | (344 | ) |  | — |
Cash dividends and distributions paid | (595 | ) |  | — |  |  | (194 | ) |  | 104 |  |  | (685 | )
Other, net | (415 | ) |  | — |  |  | — |  |  | — |  |  | (415 | )
Net cash provided by (used in) financing activities | 5,349 |  |  | 61 |  |  | 210 |  |  | (240 | ) |  | 5,380 |
Net increase (decrease) in cash and cash equivalents | — |  |  | 59 |  |  | (470 | ) |  | — |  |  | (411 | )
Cash and cash equivalents at beginning of period | — |  |  | — |  |  | 3,705 |  |  | — |  |  | 3,705 |
Cash and cash equivalents at end of period | $ | — |  |  | $ | 59 |  |  | $ | 3,235 |  |  | $ | — |  |  | $ | 3,294 |

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