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Contingencies and Commitments (Unaudited) | 3 Months Ended
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Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract] |
Commitments and Contingencies | CONTINGENCIES AND COMMITMENTS Litigation. The following information includes a discussion of updates to previously reported legal proceedings included in Note 12 of FCX's annual report on Form 10-K for the year ended December 31, 2014. Shareholder Litigation. On April 7, 2015, the Delaware Court of Chancery approved the settlement of FCX’s consolidated stockholder derivative litigation captioned In Re Freeport-McMoRan Copper & Gold Inc. Derivative Litigation, No. 8145-VCN, and awarded the plaintiffs’ legal fees and expenses. This settlement resolved all pending derivative claims against directors and officers of FCX challenging FCX's 2013 acquisitions of Plains Exploration & Production Company and McMoRan Exploration Co. During first-quarter 2015, insurers under FCX’s directors and officers liability insurance policies funded an escrow account with the $115 million settlement amount, from which the proceeds, net of plaintiffs’ legal fees and expenses, are expected to be released to FCX in May 2015. Upon the release of funds, FCX expects to recognize a gain in second-quarter 2015 for the amount of the net proceeds. As a result and in accordance with the approved settlement terms, FCX expects the Board to declare a special dividend of approximately $115 million ($0.11 per share) that would be payable in early August 2015, corresponding with the timing of FCX’s next regular quarterly dividend. Tax and Other Matters. There were no significant changes to the Cerro Verde royalty dispute or other Peruvian tax matters during the first quarter of 2015 (refer to Note 12 of FCX’s annual report on Form 10-K for the year ended December 31, 2014, for further discussion of these matters). Indonesia Tax Matters. The following information includes a discussion of updates to previously reported Indonesia tax matters included in Note 12 of FCX’s annual report on Form 10-K for the year ended December 31, 2014. PT-FI received assessments from the local regional tax authority in Papua, Indonesia, for additional taxes and penalties related to water rights tax payments for the period from January 2011 through January 2015. PT-FI has filed objections to these assessments. In March 2015, the local government of Papua rejected PT-FI’s objections to the assessments related to the period from January 2011 through December 2014, and in April 2015, PT-FI filed appeals with the Indonesian tax court. As of March 31, 2015, the aggregate amount of these assessments, including penalties, was 2.3 trillion Indonesian rupiah ($177 million based on exchange rates at March 31, 2015). No amounts have been accrued for these assessments as of March 31, 2015, because PT-FI believes its Contract of Work exempts it from these payments. PT-FI may be required to record a charge in second-quarter 2015 for all or a portion of the assessments.

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- Definition The entire disclosure for commitments, contingencies, and guarantees. + References No definition available. + Details
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