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FAIR VALUE MEASUREMENT FAIR VALUE MEASUREMENT (Unobservable inputs) (Details) (USD $) In Millions, unless otherwise specified | 12 Months Ended
--- | ---
Dec. 31, 2014 | Dec. 31, 2013
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Derivative Asset (Liability) - End of Period | $ 99 us-gaap_DerivativeLiabilities |  | $ 320 us-gaap_DerivativeLiabilities |
Deferred Option Premiums and Accrued Interest [Member] |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Derivative Asset (Liability) - End of Period | 210 us-gaap_DerivativeLiabilities / us-gaap_FinancialInstrumentAxis = fcx_DeferredOptionPremiumsandAccruedInterestMember |  | 444 us-gaap_DerivativeLiabilities / us-gaap_FinancialInstrumentAxis = fcx_DeferredOptionPremiumsandAccruedInterestMember |
Crude Oil Options [Member] | Weighted Average [Member] |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Deferred Premium Price | 6.89 fcx_DeferredPremiumPrice / us-gaap_DerivativeInstrumentRiskAxis = fcx_CrudeOilOptionsMember / us-gaap_RangeAxis = us-gaap_WeightedAverageMember |  |  |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Derivative Asset (Liability) - End of Period | 0 us-gaap_DerivativeLiabilities / us-gaap_FairValueByFairValueHierarchyLevelAxis = us-gaap_FairValueInputsLevel3Member / us-gaap_FairValueByMeasurementFrequencyAxis = us-gaap_FairValueMeasurementsRecurringMember | [1],[2] | 311 us-gaap_DerivativeLiabilities / us-gaap_FairValueByFairValueHierarchyLevelAxis = us-gaap_FairValueInputsLevel3Member / us-gaap_FairValueByMeasurementFrequencyAxis = us-gaap_FairValueMeasurementsRecurringMember | [1]
Fair Value, Measurements, Recurring [Member] | Crude Oil Options [Member] | Fair Value, Inputs, Level 3 [Member] |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Derivative Asset (Liability) - Beginning of Period | (309)us-gaap_DerivativeLiabilities / us-gaap_DerivativeInstrumentRiskAxis = fcx_CrudeOilOptionsMember / us-gaap_FairValueByFairValueHierarchyLevelAxis = us-gaap_FairValueInputsLevel3Member / us-gaap_FairValueByMeasurementFrequencyAxis = us-gaap_FairValueMeasurementsRecurringMember |  | 0 us-gaap_DerivativeLiabilities / us-gaap_DerivativeInstrumentRiskAxis = fcx_CrudeOilOptionsMember / us-gaap_FairValueByFairValueHierarchyLevelAxis = us-gaap_FairValueInputsLevel3Member / us-gaap_FairValueByMeasurementFrequencyAxis = us-gaap_FairValueMeasurementsRecurringMember |
Crude oil options assumed in the PXP acquisition |  |  | (83)fcx_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisAssumedAssetsandLiabilitiesIntoLevel3 / us-gaap_DerivativeInstrumentRiskAxis = fcx_CrudeOilOptionsMember / us-gaap_FairValueByFairValueHierarchyLevelAxis = us-gaap_FairValueInputsLevel3Member / us-gaap_FairValueByMeasurementFrequencyAxis = us-gaap_FairValueMeasurementsRecurringMember |
Net realized losses | (42)us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings / us-gaap_DerivativeInstrumentRiskAxis = fcx_CrudeOilOptionsMember / us-gaap_FairValueByFairValueHierarchyLevelAxis = us-gaap_FairValueInputsLevel3Member / us-gaap_FairValueByMeasurementFrequencyAxis = us-gaap_FairValueMeasurementsRecurringMember | [3] | (38)us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings / us-gaap_DerivativeInstrumentRiskAxis = fcx_CrudeOilOptionsMember / us-gaap_FairValueByFairValueHierarchyLevelAxis = us-gaap_FairValueInputsLevel3Member / us-gaap_FairValueByMeasurementFrequencyAxis = us-gaap_FairValueMeasurementsRecurringMember | [3]
Net unrealized gains included in earnings related to assets still held at the end of the period | 430 us-gaap_FairValueAssetsMeasuredOnRecurringBasisChangeInUnrealizedGainLoss / us-gaap_DerivativeInstrumentRiskAxis = fcx_CrudeOilOptionsMember / us-gaap_FairValueByFairValueHierarchyLevelAxis = us-gaap_FairValueInputsLevel3Member / us-gaap_FairValueByMeasurementFrequencyAxis = us-gaap_FairValueMeasurementsRecurringMember | [4] |  |
Net unrealized (gains) losses included in earnings related to liabilities still held at the end of the period |  |  | (230)us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisChangeInUnrealizedGainLoss / us-gaap_DerivativeInstrumentRiskAxis = fcx_CrudeOilOptionsMember / us-gaap_FairValueByFairValueHierarchyLevelAxis = us-gaap_FairValueInputsLevel3Member / us-gaap_FairValueByMeasurementFrequencyAxis = us-gaap_FairValueMeasurementsRecurringMember | [4]
Settlement payments | 237 us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements / us-gaap_DerivativeInstrumentRiskAxis = fcx_CrudeOilOptionsMember / us-gaap_FairValueByFairValueHierarchyLevelAxis = us-gaap_FairValueInputsLevel3Member / us-gaap_FairValueByMeasurementFrequencyAxis = us-gaap_FairValueMeasurementsRecurringMember |  | 42 us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements / us-gaap_DerivativeInstrumentRiskAxis = fcx_CrudeOilOptionsMember / us-gaap_FairValueByFairValueHierarchyLevelAxis = us-gaap_FairValueInputsLevel3Member / us-gaap_FairValueByMeasurementFrequencyAxis = us-gaap_FairValueMeasurementsRecurringMember |
Derivative Asset (Liability) - End of Period | 316 us-gaap_DerivativeLiabilities / us-gaap_DerivativeInstrumentRiskAxis = fcx_CrudeOilOptionsMember / us-gaap_FairValueByFairValueHierarchyLevelAxis = us-gaap_FairValueInputsLevel3Member / us-gaap_FairValueByMeasurementFrequencyAxis = us-gaap_FairValueMeasurementsRecurringMember |  | (309)us-gaap_DerivativeLiabilities / us-gaap_DerivativeInstrumentRiskAxis = fcx_CrudeOilOptionsMember / us-gaap_FairValueByFairValueHierarchyLevelAxis = us-gaap_FairValueInputsLevel3Member / us-gaap_FairValueByMeasurementFrequencyAxis = us-gaap_FairValueMeasurementsRecurringMember |
Fair Value, Measurements, Recurring [Member] | Crude Oil Options [Member] | Fair Value, Inputs, Level 3 [Member] | Sales [Member] |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Net realized losses | 41 us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings / us-gaap_DerivativeInstrumentRiskAxis = fcx_CrudeOilOptionsMember / us-gaap_FairValueByFairValueHierarchyLevelAxis = us-gaap_FairValueInputsLevel3Member / us-gaap_FairValueByMeasurementFrequencyAxis = us-gaap_FairValueMeasurementsRecurringMember / us-gaap_IncomeStatementLocationAxis = us-gaap_SalesMember |  | 37 us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings / us-gaap_DerivativeInstrumentRiskAxis = fcx_CrudeOilOptionsMember / us-gaap_FairValueByFairValueHierarchyLevelAxis = us-gaap_FairValueInputsLevel3Member / us-gaap_FairValueByMeasurementFrequencyAxis = us-gaap_FairValueMeasurementsRecurringMember / us-gaap_IncomeStatementLocationAxis = us-gaap_SalesMember |
Net unrealized (gains) losses included in earnings related to liabilities still held at the end of the period | (432)us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisChangeInUnrealizedGainLoss / us-gaap_DerivativeInstrumentRiskAxis = fcx_CrudeOilOptionsMember / us-gaap_FairValueByFairValueHierarchyLevelAxis = us-gaap_FairValueInputsLevel3Member / us-gaap_FairValueByMeasurementFrequencyAxis = us-gaap_FairValueMeasurementsRecurringMember / us-gaap_IncomeStatementLocationAxis = us-gaap_SalesMember |  | 228 us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisChangeInUnrealizedGainLoss / us-gaap_DerivativeInstrumentRiskAxis = fcx_CrudeOilOptionsMember / us-gaap_FairValueByFairValueHierarchyLevelAxis = us-gaap_FairValueInputsLevel3Member / us-gaap_FairValueByMeasurementFrequencyAxis = us-gaap_FairValueMeasurementsRecurringMember / us-gaap_IncomeStatementLocationAxis = us-gaap_SalesMember |
Fair Value, Measurements, Recurring [Member] | Crude Oil Options [Member] | Fair Value, Inputs, Level 3 [Member] | Interest Expense [Member] |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Net realized losses | 1 us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings / us-gaap_DerivativeInstrumentRiskAxis = fcx_CrudeOilOptionsMember / us-gaap_FairValueByFairValueHierarchyLevelAxis = us-gaap_FairValueInputsLevel3Member / us-gaap_FairValueByMeasurementFrequencyAxis = us-gaap_FairValueMeasurementsRecurringMember / us-gaap_IncomeStatementLocationAxis = us-gaap_InterestExpenseMember |  | 1 us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings / us-gaap_DerivativeInstrumentRiskAxis = fcx_CrudeOilOptionsMember / us-gaap_FairValueByFairValueHierarchyLevelAxis = us-gaap_FairValueInputsLevel3Member / us-gaap_FairValueByMeasurementFrequencyAxis = us-gaap_FairValueMeasurementsRecurringMember / us-gaap_IncomeStatementLocationAxis = us-gaap_InterestExpenseMember |
Net unrealized (gains) losses included in earnings related to liabilities still held at the end of the period | $ 2 us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisChangeInUnrealizedGainLoss / us-gaap_DerivativeInstrumentRiskAxis = fcx_CrudeOilOptionsMember / us-gaap_FairValueByFairValueHierarchyLevelAxis = us-gaap_FairValueInputsLevel3Member / us-gaap_FairValueByMeasurementFrequencyAxis = us-gaap_FairValueMeasurementsRecurringMember / us-gaap_IncomeStatementLocationAxis = us-gaap_InterestExpenseMember |  | $ 2 us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisChangeInUnrealizedGainLoss / us-gaap_DerivativeInstrumentRiskAxis = fcx_CrudeOilOptionsMember / us-gaap_FairValueByFairValueHierarchyLevelAxis = us-gaap_FairValueInputsLevel3Member / us-gaap_FairValueByMeasurementFrequencyAxis = us-gaap_FairValueMeasurementsRecurringMember / us-gaap_IncomeStatementLocationAxis = us-gaap_InterestExpenseMember |
Fair Value, Measurements, Recurring [Member] | Crude Oil Options [Member] | Fair Value, Inputs, Level 3 [Member] | Minimum [Member] |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Fair Value Assumptions, Implied Volatility Rate | 34.00%us-gaap_FairValueAssumptionsExpectedVolatilityRate / us-gaap_DerivativeInstrumentRiskAxis = fcx_CrudeOilOptionsMember / us-gaap_FairValueByFairValueHierarchyLevelAxis = us-gaap_FairValueInputsLevel3Member / us-gaap_FairValueByMeasurementFrequencyAxis = us-gaap_FairValueMeasurementsRecurringMember / us-gaap_RangeAxis = us-gaap_MinimumMember |  |  |
Fair Value, Measurements, Recurring [Member] | Crude Oil Options [Member] | Fair Value, Inputs, Level 3 [Member] | Maximum [Member] |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Fair Value Assumptions, Implied Volatility Rate | 53.00%us-gaap_FairValueAssumptionsExpectedVolatilityRate / us-gaap_DerivativeInstrumentRiskAxis = fcx_CrudeOilOptionsMember / us-gaap_FairValueByFairValueHierarchyLevelAxis = us-gaap_FairValueInputsLevel3Member / us-gaap_FairValueByMeasurementFrequencyAxis = us-gaap_FairValueMeasurementsRecurringMember / us-gaap_RangeAxis = us-gaap_MaximumMember |  |  |
Fair Value, Measurements, Recurring [Member] | Crude Oil Options [Member] | Fair Value, Inputs, Level 3 [Member] | Weighted Average [Member] |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Fair Value Assumptions, Implied Volatility Rate | 39.00%us-gaap_FairValueAssumptionsExpectedVolatilityRate / us-gaap_DerivativeInstrumentRiskAxis = fcx_CrudeOilOptionsMember / us-gaap_FairValueByFairValueHierarchyLevelAxis = us-gaap_FairValueInputsLevel3Member / us-gaap_FairValueByMeasurementFrequencyAxis = us-gaap_FairValueMeasurementsRecurringMember / us-gaap_RangeAxis = us-gaap_WeightedAverageMember |  |  |
[1] | Recorded at fair value.
[2] | Refer to Note 14 for further discussion and balance sheet classifications. Crude oil options were net of $210 million at December 31, 2014, and $444 million at December 31, 2013, for deferred premiums and accrued interest.
[3] | Includes net realized losses of $37 million recorded in revenues in 2013 and $41 million in 2014, and $1 million of interest expense associated with deferred premiums in 2013 and 2014.
[4] | Includes unrealized losses (gains) of $228 million recorded in revenues in 2013 and $(432) million in 2014, and $2 million of interest expense associated with deferred premiums in 2013 and 2014.

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- Definition Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and not elected to be offset. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=35750535&loc=d3e13433-108611 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6945355&loc=d3e41228-113958 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=35750535&loc=d3e13495-108611 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=34720828&loc=SL20225862-175312 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 45 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6945355&loc=d3e41271-113958 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 55 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=36459792&loc=SL20226008-175313 + Details
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