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DISPOSITIONS AND ACQUISITIONS (Tables) | 12 Months Ended
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Dec. 31, 2014
Acquisitions [Abstract] |
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block] | The following table provides net income before income taxes and net income attributable to FCX common stockholders for Candelaria/Ojos:
|  | January 1, 2014, |  |  |  |
|  | to |  | Years Ended December 31,
|  | November 3, 2014 |  | 2013 |  | 2012
Net income before income taxes |  | $ | 270 |  |  | $ | 689 |  |  | $ | 547 |
Net income attributable to FCX common stockholders |  | 144 |  |  | 341 |  |  | 304 |
The following table provides balances of the major classes of assets and liabilities for Candelaria/Ojos at November 3, 2014:
Current assets | $ | 482 |
Long-term assets | 1,155 |
Current liabilities | 129 |
Long-term liabilities | 89 |
Noncontrolling interests | 242 |
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. | Excludes 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 includes 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 final purchase price allocations for PXP and MMR:
| PXP |  | MMR |  | Eliminations |  | Total
Current assets | $ | 1,193 |  |  | $ | 98 |  |  | $ | — |  |  | $ | 1,291 |
Oil and gas properties - full cost method: |  |  |  |  |  |  |
Subject to amortization | 11,447 |  |  | 751 |  |  | — |  |  | 12,198 |
Not subject to amortization | 9,401 |  |  | 1,711 |  |  | — |  |  | 11,112 |
Property, plant and equipment | 261 |  |  | 1 |  |  | — |  |  | 262 |
Investment in MMR a | 848 |  |  | — |  |  | (848 | ) |  | — |
Other assets | 12 |  |  | 382 |  |  | — |  |  | 394 |
Current liabilities | (906 | ) |  | (174 | ) |  | — |  |  | (1,080 | )
Debt (current and long-term) | (10,631 | ) |  | (620 | ) |  | — |  |  | (11,251 | )
Deferred income taxes b | (3,917 | ) |  | — |  |  | — |  |  | (3,917 | )
Other long-term liabilities | (799 | ) |  | (262 | ) |  | — |  |  | (1,061 | )
Redeemable noncontrolling interest | (708 | ) |  | (259 | ) |  | — |  |  | (967 | )
Total fair value, excluding goodwill | 6,201 |  |  | 1,628 |  |  | (848 | ) |  | 6,981 |
Goodwill | 438 |  |  | 1,500 |  |  | — |  |  | 1,938 |
Total purchase price | $ | 6,639 |  |  | $ | 3,128 |  |  | $ | (848 | ) |  | $ | 8,919 |
a. | PXP owned 51 million shares of MMR common stock, which were 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 a 35 percent federal statutory rate and a 3 percent weighted-average of the applicable statutory state tax rates (net of federal benefit).
Schedule of Goodwill [Table Text Block] | A summary of changes in the carrying amount of goodwill follows:
Balance at January 1, 2013 |  | $ | — |
Acquisitions of PXP and MMR |  | 1,916 |
Balance at December 31, 2013 |  | 1,916 |
Purchase accounting adjustments |  | 22 |
Disposal of Eagle Ford (see above) |  | (221 | )
Impairment charge |  | (1,717 | )
Balance at December 31, 2014 |  | $ | — |
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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