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DISPOSITIONS AND ACQUISITIONS (Tables)
 12 Months Ended
Dec. 31, 2015
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Business Acquisitions by Acquisition, Equity Interest Issued or Issuable [Table Text Block]
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.
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.
Schedule of Assets and Liabilities Disposed of by Sale in Period of Disposition [Table Text Block]
The carrying amounts of TFHL's major classes of assets, liabilities and noncontrolling interests, which are held for sale in the consolidated balance sheets, follow:
 
December 31,
 
 
2015
 
2014
 
Assets
 
 
 
 
Cash and cash equivalents
$
29

 
$
147

 
Inventories
584

 
594

 
Receivables and other current assets
131

 
105

 
Total current assets held for sale
$
744

 
$
846

 
 
 
 
 
 
Property, plant, equipment and mining development costs, net
$
3,261

 
$
3,290

 
Inventories
608

 
491

 
Other assets
241

 
203

 
Total long-term assets held for sale
$
4,110

a 
$
3,984

a 
 
 
 
 
 
Liabilities
 
 
 
 
Accounts payable and accrued liabilities
$
108

 
$
99

 
Accrued income taxes
—

 
92

 
Asset retirement obligations
—

 
2

 
Total current liabilities held for sale
$
108

 
$
193

 
 
 
 
 
 
Deferred income taxes
$
681

 
$
707

 
Asset retirement obligations and other liabilities
37

 
35

 
Total long-term liabilities held for sale
$
718

 
$
742

 
 
 
 
 
 
Noncontrolling interests
$
1,178

 
$
1,125

 
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 common stockholders for the Candelaria and Ojos del Salado mines:
 
 
January 1, 2014,
 
 
 
 
 
to
 
Year Ended
 
 
November 3, 2014
 
December 31, 2013
 
Net income before income taxes
 
$
270

 
$
689

 
Net income attributable to common stockholders
 
144

 
341

 
Net income from discontinued operations in the consolidated statements of operations consists of the following:
 
Years Ended December 31,
 
 
2015
 
2014
 
2013
 
Revenuesa
$
1,270

 
$
1,437

 
$
1,590

 
Costs and expenses:
 
 
 
 
 
 
Production and delivery costs
852

 
782

 
759

 
Depreciation, depletion and amortization
257

 
228

 
246

 
Interest expense allocated from parentb
28

 
24

 
15

 
Other costs and expenses, net
26

 
27

 
47

 
Net income before income taxes
107

 
376

 
523

 
Provision for income taxes
(16
)
 
(99
)
 
(135
)
 
Net income from discontinued operations
$
91

 
$
277

 
$
388

 
a.
In accordance with accounting guidance, amounts are net of eliminations of intercompany sales totaling $114 million in 2015, $121 million in 2014 and $47 million in 2013.
b.
In accordance with accounting guidance, interest associated with FCX's Term Loan that will be required to be repaid as a result of the sale of TFHL has been allocated to discontinued operations.
The following table provides balances of the major classes of assets and liabilities for the Candelaria and Ojos del Salado mines at November 3, 2014:
Current assets
$
482

Long-term assets
1,155

Current liabilities
129

Long-term liabilities
89

Noncontrolling interests
243
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 MMRa
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 taxesb
(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
 
$
—
Cash Flows from Discontinued Operations [Table Text Block]
Cash flows from discontinued operations included in the consolidated statements of cash flows follow:
 
Years Ended December 31,
 
2015
 
2014
 
2013
Net cash provided by operating activities
$
217

 
$
529

 
$
594

Net cash used in investing activities
(253
)
 
(174
)
 
(208
)
Net cash used in financing activities
(82
)
 
(285
)
 
(445
)
(Decrease) increase in cash and cash equivalents in assets held for sale
$
(118
)
 
$
70

 
$
(59
)
Business Acquisition, Pro Forma Information [Table Text Block]
The historical consolidated financial information for the year ended December 31, 2013, shown below has been adjusted to reflect factually supportable items that are directly attributable to the acquisitions.
Revenues
$
23,075

 
 
Operating income
6,267

 
 
Income from continuing operations
3,626

 
 
Net income attributable to common stockholders
2,825

 
 
 
 
 
 
Net income per share attributable to common stockholders:
 
 
 
Basic
$
2.71

 
 
Diluted
2.70