XML 58 R15.htm IDEA: XBRL DOCUMENT
v3.3.0.814

Contingencies and Commitments (Unaudited) | 9 Months Ended
--- | ---
Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract] |
Commitments and Contingencies | CONTINGENCIES AND COMMITMENTS Litigation. During third-quarter 2015, there were no significant 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, as updated in FCX's quarterly reports on Form 10-Q in Note 8 for the quarterly period ended March 31, 2015, and Note 9 for the quarterly period ended June 30, 2015. Tax and Other Matters. Cerro Verde Royalty Dispute and Other Tax Matters. There were no significant changes to the Cerro Verde royalty dispute or other Peruvian tax matters during third-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, as updated in FCX's quarterly reports on Form 10-Q in Note 8 for the quarterly period ended March 31, 2015, and Note 9 for the quarterly period ended June 30, 2015. PT-FI received assessments from the local regional tax authority in Papua, Indonesia, for additional taxes and penalties related to water rights taxes for the period from January 2011 through September 2015. PT-FI has filed or will file objections to these assessments. The local government of Papua rejected PT-FI’s objections to the assessments related to the period from January 2011 through July 2015, and PT-FI filed appeals with the Indonesian tax court for periods through May 2015. The aggregate amount of all assessments received through October 31, 2015, including penalties, was 2.6 trillion Indonesian rupiah ($177 million based on exchange rates at September 30, 2015). Additional penalties, which could be significant, may be assessed depending on the outcome of the appeals process. No amounts have been accrued for these assessments as of September 30, 2015, because PT-FI believes its Contract of Work (COW) exempts it from these payments and that it has the right to contest these assessments in the tax court and ultimately the Indonesian Supreme Court. Indonesia Mining Contract. The following information includes a discussion of updates to previously reported information on PT-FI's COW included in Note 13 of FCX’s annual report on Form 10-K for the year ended December 31, 2014, as updated in Note 13 of FCX's quarterly report on Form 10-Q for the quarterly period ended June 30, 2015. PT-FI has advanced discussions with the Indonesian government regarding its COW and long-term operating rights. The Indonesian government is currently developing economic stimulus measures, which include revisions to mining regulations, to promote economic and employment growth. In consideration of PT-FI's major investments, and prior and ongoing commitments to increase benefits to Indonesia, including previously agreed higher royalties, domestic processing, divestment and local content, the Indonesian government provided a letter of assurance to PT-FI in October 2015 indicating that it will approve the extension of PT-FI's operations beyond 2021, and provide the same rights and the same level of legal and fiscal certainty provided under its current COW.

X
- References No definition available. + Details
Name: | us-gaap_CommitmentsAndContingenciesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for commitments, contingencies, and guarantees. + References No definition available. + Details
Name: | us-gaap_CommitmentsContingenciesAndGuaranteesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration