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DEBT (Tables) | 12 Months Ended
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Dec. 31, 2014
Debt Disclosure [Abstract] |
Schedule of debt instruments |
Debt Instrument |  | Date
6.125% Senior Notes due 2019 |  | June 15, 2016
6½% Senior Notes due 2020 |  | November 15, 2015
6.625% Senior Notes due 2021 |  | May 1, 2016
6.75% Senior Notes due 2022 |  | February 1, 2017
6⅞% Senior Notes due 2023 |  | February 15, 2018
The components of debt follow:
| December 31,
| 2014 |  | 2013
Bank term loan | $ | 3,050 |  |  | $ | 4,000 |
Revolving credit facility | — |  |  | — |
Lines of credit | 474 |  |  | — |
Subsidiary credit facility | 425 |  |  | — |
Senior notes and debentures: |  |  |
Issued by FCX: |  |  |
1.40% Senior Notes due 2015 | — |  |  | 500 |
2.15% Senior Notes due 2017 | 500 |  |  | 500 |
2.30% Senior Notes due 2017 | 749 |  |  | — |
2.375% Senior Notes due 2018 | 1,500 |  |  | 1,500 |
3.100% Senior Notes due 2020 | 1,000 |  |  | 999 |
4.00% Senior Notes due 2021 | 598 |  |  | — |
3.55% Senior Notes due 2022 | 1,996 |  |  | 1,996 |
3.875% Senior Notes due 2023 | 1,999 |  |  | 1,999 |
4.55% Senior Notes due 2024 | 849 |  |  | — |
5.40% Senior Notes due 2034 | 796 |  |  | — |
5.450% Senior Notes due 2043 | 1,991 |  |  | 1,991 |
Issued by FM O&G: |  |  |
6.125% Senior Notes due 2019 | 255 |  |  | 817 |
8.625% Senior Notes due 2019 | — |  |  | 447 |
7.625% Senior Notes due 2020 | — |  |  | 336 |
6½% Senior Notes due 2020 | 670 |  |  | 1,647 |
6.625% Senior Notes due 2021 | 284 |  |  | 659 |
6.75% Senior Notes due 2022 | 493 |  |  | 1,111 |
6⅞% Senior Notes due 2023 | 866 |  |  | 1,686 |
Issued by FMC: |  |  |
7 1/8% Debentures due 2027 | 115 |  |  | 115 |
9½% Senior Notes due 2031 | 129 |  |  | 130 |
6 1/8% Senior Notes due 2034 | 116 |  |  | 115 |
Other (including equipment capital leases and other short-term borrowings) | 115 |  |  | 158 |
Total debt | 18,970 |  |  | 20,706 |
Less current portion of debt | (478 | ) |  | (312 | )
Long-term debt | $ | 18,492 |  |  | $ | 20,394 |
Schedule of extinguishment of debt | A summary of debt extinguishments during 2014 for senior notes resulting from redemptions and tender offers follows:
| Principal Amount |  | Purchase Accounting Fair Value Adjustments |  | Book Value |  | (Loss) Gain
1.40% Senior Notes due 2015 | $ | 500 |  |  | $ | — |  |  | $ | 500 |  |  | $ | (1 | )
6.125% Senior Notes due 2019 | 513 |  |  | 40 |  |  | 553 |  |  | (2 | )
8.625% Senior Notes due 2019 | 400 |  |  | 41 |  |  | 441 |  |  | 24 |
7.625% Senior Notes due 2020 | 300 |  |  | 32 |  |  | 332 |  |  | 14 |
6½% Senior Notes due 2020 | 883 |  |  | 79 |  |  | 962 |  |  | 10 |
6.625% Senior Notes due 2021 | 339 |  |  | 31 |  |  | 370 |  |  | 3 |
6.75% Senior Notes due 2022 | 551 |  |  | 57 |  |  | 608 |  |  | 8 |
6⅞% Senior Notes due 2023 | 722 |  |  | 84 |  |  | 806 |  |  | 21 |
| $ | 4,208 |  |  | $ | 364 |  |  | $ | 4,572 |  |  | $ | 77 |

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