GUARANTOR FINANCIAL STATEMENTS (Tables)

12 Months Ended

Dec. 31, 2015

Guarantor Financial Statements [Abstract]

Condensed Balance Sheet [Table Text Block]

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2015



	FCX			FM O&G LLC			Non-guarantor					Consolidated
	Issuer			Guarantor			Subsidiaries		Eliminations			FCX
ASSETS
Current assets, other than assets held for sale	$	181		$	3,831		$	10,238	$	(7,532	)	$	6,718
Current assets held for sale	—			—			744		—			744
Property, plant, equipment and mining development costs, net	26			57			24,163		—			24,246
Oil and gas properties, net - full cost method:
Subject to amortization, less accumulated amortization and impairments	—			710			1,552		—			2,262
Not subject to amortization	—			1,393			3,432		6			4,831
Investments in consolidated subsidiaries	24,311			—			—		(24,311		)	—
Other assets	5,038			1,826			3,586		(6,798		)	3,652
Assets held for sale	—			—			4,124		—			4,124
Total assets	$	29,556		$	7,817		$	47,839	$	(38,635	)	$	46,577

LIABILITIES AND EQUITY
Current liabilities, other than liabilities held for sale	$	6,012		$	666		$	5,047	$	(7,526	)	$	4,199
Current liabilities held for sale	—			—			108		—			108
Long-term debt, less current portion	14,735			5,883			11,594		(12,433		)	19,779
Deferred income taxes	941		^a	—			2,666		—			3,607
Environmental and asset retirement obligations, less current portion	—			305			3,412		—			3,717
Investment in consolidated subsidiary	—			—			2,397		(2,397		)	—
Other liabilities	40			3,360			1,732		(3,491		)	1,641
Liabilities held for sale	—			—			718		—			718
Total liabilities	21,728			10,214			27,674		(25,847		)	33,769

Redeemable noncontrolling interest	—			—			764		—			764

Equity:
Stockholders' equity	7,828			(2,397		)	15,725		(13,328		)	7,828
Noncontrolling interests	—			—			3,676		540			4,216
Total equity	7,828			(2,397		)	19,401		(12,788		)	12,044
Total liabilities and equity	$	29,556		$	7,817		$	47,839	$	(38,635	)	$	46,577


a.	All U.S. related deferred income taxes are recorded at the parent company.

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2014



	FCX			FM O&G LLC		Non-guarantor					Consolidated
	Issuer			Guarantor		Subsidiaries		Eliminations			FCX
ASSETS
Current assets, other than assets held for sale	$	323		$	2,635	$	7,813	$	(2,572	)	$	8,199
Current assets held for sale	—			—		846		—			846
Property, plant, equipment and mining development costs, net	22			46		22,859		—			22,927
Oil and gas properties, net - full cost method:
Subject to amortization, less accumulated amortization and impairments	—			3,296		5,907		(16		)	9,187
Not subject to amortization	—			2,447		7,640		—			10,087
Investments in consolidated subsidiaries	28,765			6,460		10,246		(45,471		)	—
Other assets	8,914			3,947		3,355		(12,787		)	3,429
Assets held for sale	—			—		3,999		—			3,999
Total assets	$	38,024		$	18,831	$	62,665	$	(60,846	)	$	58,674

LIABILITIES AND EQUITY
Current liabilities, other than liabilities held for sale	$	1,592		$	560	$	5,399	$	(2,572	)	$	4,979
Current liabilities held for sale	—			—		193		—			193
Long-term debt, less current portion	14,930			3,874		8,879		(9,312		)	18,371
Deferred income taxes	3,161		^a	—		2,530		—			5,691
Environmental and asset retirement obligations, less current portion	—			302		3,325		—			3,627
Other liabilities	54			3,372		1,895		(3,475		)	1,846
Liabilities held for sale	—			—		742		—			742
Total liabilities	19,737			8,108		22,963		(15,359		)	35,449

Redeemable noncontrolling interest	—			—		751		—			751

Equity:
Stockholders' equity	18,287			10,723		35,268		(45,991		)	18,287
Noncontrolling interests	—			—		3,683		504			4,187
Total equity	18,287			10,723		38,951		(45,487		)	22,474
Total liabilities and equity	$	38,024		$	18,831	$	62,665	$	(60,846	)	$	58,674


a.	All U.S. related deferred income taxes are recorded at the parent company.

Condensed Income Statement [Table Text Block]

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE (LOSS) INCOME



Year Ended December 31, 2015
	FCX			FM O&G LLC				Non-guarantor							Consolidated
	Issuer			Guarantor				Subsidiaries				Eliminations			FCX
Revenues	$	—		$	613			$	13,994			$	—		$	14,607
Total costs and expenses	60			5,150			^a	22,920			^a	(11		)	28,119
Operating (loss) income	(60		)	(4,537		)		(8,926		)		11			(13,512		)
Interest expense, net	(489		)	(8		)		(272		)		152			(617		)
Other income (expense), net	225			1				(86		)		(139		)	1
(Loss) income before income taxes and equity in affiliated companies' net (losses) earnings	(324		)	(4,544		)		(9,284		)		24			(14,128		)
(Provision for) benefit from income taxes	(3,227		)	1,718				3,469				(9		)	1,951
Equity in affiliated companies' net (losses) earnings	(8,685		)	(9,976		)		(12,838		)		31,496			(3		)
Net (loss) income from continuing operations	(12,236		)	(12,802		)		(18,653		)		31,511			(12,180		)
Net income from discontinued operations	—			—				91				—			91
Net (loss) income	(12,236		)	(12,802		)		(18,562		)		31,511			(12,089		)
Net income and preferred dividends attributable to noncontrolling interests:
Continuing operations	—			—				(35		)		(33		)	(68		)
Discontinued operations	—			—				(79		)		—			(79		)
Net (loss) income attributable to common stockholders	$	(12,236	)	$	(12,802	)		$	(18,676	)		$	31,478		$	(12,236	)

Other comprehensive income (loss)	41			—				41				(41		)	41
Total comprehensive (loss) income	$	(12,195	)	$	(12,802	)		$	(18,635	)		$	31,437		$	(12,195	)


a.	Includes charges totaling $4.2 billion at the FM O&G LLC guarantor and $8.9 billion at the non-guarantor subsidiaries related to impairment of FCX's oil and gas properties pursuant to full cost accounting rules.



Year Ended December 31, 2014
	FCX			FM O&G LLC				Non-guarantor							Consolidated
	Issuer			Guarantor				Subsidiaries				Eliminations			FCX
Revenues	$	—		$	2,356			$	17,645			$	—		$	20,001
Total costs and expenses	59			3,498			^a	16,720			^a	22			20,299
Operating (loss) income	(59		)	(1,142		)		925				(22		)	(298		)
Interest expense, net	(382		)	(139		)		(165		)		80			(606		)
Net (loss) gain on early extinguishment of debt	(5		)	78				—				—			73
Other income (expense), net	72			3				36				(80		)	31
(Loss) income before income taxes and equity in affiliated companies' net (losses) earnings	(374		)	(1,200		)		796				(22		)	(800		)
Benefit from (provision for) income taxes	96			281				(610		)		8			(225		)
Equity in affiliated companies' net (losses) earnings	(1,007		)	(3,429		)		(4,633		)		9,072			3
Net (loss) income from continuing operations	(1,285		)	(4,348		)		(4,447		)		9,058			(1,022		)
Net (loss) income from discontinued operations	(23		)	—				300				—			277
Net (loss) income	(1,308		)	(4,348		)		(4,147		)		9,058			(745		)
Net income and preferred dividends attributable to noncontrolling interests:
Continuing operations	—			—				(354		)		(44		)	(398		)
Discontinued operations	—			—				(165		)		—			(165		)
Net (loss) income attributable to common stockholders	$	(1,308	)	$	(4,348	)		$	(4,666	)		$	9,014		$	(1,308	)

Other comprehensive (loss) income	(139		)	—				(139		)		139			(139		)
Total comprehensive (loss) income	$	(1,447	)	$	(4,348	)		$	(4,805	)		$	9,153		$	(1,447	)


a.	Includes impairment charges totaling $1.9 billion at the FM O&G LLC Guarantor and $3.5 billion at the non-guarantor subsidiaries related to ceiling test impairment charges for FCX's oil and gas properties pursuant to full cost accounting rules and a goodwill impairment charge.

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)



Year Ended December 31, 2013
	FCX			FM O&G LLC			Non-guarantor						Consolidated
	Issuer			Guarantor			Subsidiaries			Eliminations			FCX
Revenues	$	—		$	1,177		$	18,154		$	—		$	19,331
Total costs and expenses	134			1,065			13,312			—			14,511
Operating (loss) income	(134		)	112			4,842			—			4,820
Interest expense, net	(319		)	(129		)	(112		)	59			(501		)
Net (loss) gain on early extinguishment of debt	(45		)	—			10			—			(35		)
Gain on investment in MMR	128			—			—			—			128
Other income (expense), net	61			—			(24		)	(59		)	(22		)
(Loss) income before income taxes and equity in affiliated companies' net earnings (losses)	(309		)	(17		)	4,716			—			4,390
Benefit from (provision for) income taxes	97			17			(1,454		)	—			(1,340		)
Equity in affiliated companies' net earnings (losses)	2,886			281			268			(3,432		)	3
Net income (loss) from continuing operations	2,674			281			3,530			(3,432		)	3,053
Net (loss) income from discontinued operations	(16		)	—			404			—			388
Net income (loss)	2,658			281			3,934			(3,432		)	3,441
Net income and preferred dividends attributable to noncontrolling interests:
Continuing operations	—			—			(521		)	(77		)	(598		)
Discontinued operations	—			—			(185		)	—			(185		)
Net income (loss) attributable to common stockholders	$	2,658		$	281		$	3,228		$	(3,509	)	$	2,658

Other comprehensive income (loss)	101			—			101			(101		)	101
Total comprehensive income (loss)	$	2,759		$	281		$	3,329		$	(3,610	)	$	2,759

Condensed Cash Flow Statement [Table Text Block]

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

Year Ended December 31, 2015



	FCX			FM O&G LLC			Non-guarantor						Consolidated
	Issuer			Guarantor			Subsidiaries			Eliminations			FCX
Cash flow from operating activities:
Net (loss) income	$	(12,236	)	$	(12,802	)	$	(18,562	)	$	31,511		$	(12,089	)
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation, depletion and amortization	5			370			3,195			(73		)	3,497
Impairment of oil and gas properties	—			4,220			8,862			62			13,144
Copper and molybdenum inventory adjustments	—			—			338			—			338
Other asset impairments, inventory write-downs, restructuring and other	—			11			245			—			256
Net gains on crude oil gas derivative contracts	—			(87		)	—			—			(87		)
Equity in losses (earnings) of consolidated subsidiaries	8,685			9,976			12,838			(31,496		)	3
Other, net	(2,127		)	2			(90		)	—			(2,215		)
Changes in working capital and other tax payments	5,506			(1,428		)	(3,714		)	9			373
Net cash (used in) provided by operating activities	(167		)	262			3,112			13			3,220

Cash flow from investing activities:
Capital expenditures	(7		)	(847		)	(5,486		)	(13		)	(6,353		)
Intercompany loans	(1,812		)	(1,310		)	—			3,122			—
Dividends from (investments in) consolidated subsidiaries	852			(71		)	130			(913		)	(2		)
Other, net	(21		)	(2		)	111			21			109
Net cash (used in) provided by investing activities	(988		)	(2,230		)	(5,245		)	2,217			(6,246		)

Cash flow from financing activities:
Proceeds from debt	4,503			—			3,769			—			8,272
Repayments of debt	(4,660		)	—			(2,017		)	—			(6,677		)
Intercompany loans	—			2,038			1,084			(3,122		)	—
Net proceeds from sale of common stock	1,936			—			—			—			1,936
Cash dividends and distributions paid	(605		)	—			(924		)	804			(725		)
Other, net	(19		)	(71		)	(18		)	88			(20		)
Net cash provided by (used in) financing activities	1,155			1,967			1,894			(2,230		)	2,786

Net decrease in cash and cash equivalents	—			(1		)	(239		)	—			(240		)
Decrease in cash and cash equivalents in assets held for sale	—			—			118			—			118
Cash and cash equivalents at beginning of year	—			1			316			—			317
Cash and cash equivalents at end of year	$	—		$	—		$	195		$	—		$	195

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

Year Ended December 31, 2014



	FCX			FM O&G LLC			Non-guarantor						Consolidated
	Issuer			Guarantor			Subsidiaries			Eliminations			FCX
Cash flow from operating activities:
Net (loss) income	$	(1,308	)	$	(4,348	)	$	(4,147	)	$	9,058		$	(745	)
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation, depletion and amortization	4			806			3,077			(24		)	3,863
Impairment of oil and gas properties and goodwill	—			1,922			3,486			46			5,454
Net gains on crude oil and natural gas derivative contracts	—			(504		)	—			—			(504		)
Equity in losses (earnings) of consolidated subsidiaries	1,007			3,429			4,633			(9,072		)	(3		)
Other, net	(882		)	(113		)	(807		)	—			(1,802		)
Changes in working capital and other tax payments, excluding amounts from dispositions	723			(1,750		)	395			—			(632		)
Net cash (used in) provided by operating activities	(456		)	(558		)	6,637			8			5,631

Cash flow from investing activities:
Capital expenditures	—			(2,143		)	(5,072		)	—			(7,215		)
Acquisition of Deepwater GOM interests	—			—			(1,426		)	—			(1,426		)
Intercompany loans	(1,328		)	704			—			624			—
Dividends from (investments in) consolidated subsidiaries	1,221			(130		)	(2,408		)	1,317			—
Net proceeds from sale of Candelaria and Ojos del Salado	—			—			1,709			—			1,709
Net proceeds from sale of Eagle Ford shale assets	—			2,910			—			—			2,910
Other, net	—			41			180			—			221
Net cash (used in) provided by investing activities	(107		)	1,382			(7,017		)	1,941			(3,801		)

Cash flow from financing activities:
Proceeds from debt	7,464			—			1,246			—			8,710
Repayments of debt	(5,575		)	(3,994		)	(737		)	—			(10,306		)
Intercompany loans	—			810			(186		)	(624		)	—
Cash dividends and distributions paid, and contributions received	(1,305		)	2,364			(1,463		)	(1,325		)	(1,729		)
Other, net	(21		)	(3		)	(2		)	—			(26		)
Net cash provided by (used in) financing activities	563			(823		)	(1,142		)	(1,949		)	(3,351		)

Net increase (decrease) in cash and cash equivalents	—			1			(1,522		)	—			(1,521		)
Increase in cash and cash equivalents in assets held for sale	—			—			(70		)	—			(70		)
Cash and cash equivalents at beginning of year	—			—			1,908			—			1,908
Cash and cash equivalents at end of year	$	—		$	1		$	316		$	—		$	317

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

Year Ended December 31, 2013



	FCX			FM O&G LLC			Non-guarantor						Consolidated
	Issuer			Guarantor			Subsidiaries			Eliminations			FCX
Cash flow from operating activities:
Net income (loss)	$	2,658		$	281		$	3,934		$	(3,432	)	$	3,441
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
Depreciation, depletion and amortization	4			616			2,177			—			2,797
Net losses on crude oil and natural gas derivative contracts	—			334			—			—			334
Gain on investment in MMR	(128		)	—			—			—			(128		)
Equity in (earnings) losses of consolidated subsidiaries	(2,886		)	(281		)	(265		)	3,432			—
Other, net	8			(14		)	78			—			72
Changes in working capital and other tax payments, excluding amounts from acquisitions and dispositions	272			735			(1,384		)	—			(377		)
Net cash (used in) provided by operating activities	(72		)	1,671			4,540			—			6,139

Cash flow from investing activities:
Capital expenditures	—			(894		)	(4,392		)	—			(5,286		)
Acquisitions, net of cash acquired	(5,437		)	—			(4		)	—			(5,441		)
Intercompany loans	834			—			(162		)	(672		)	—
Dividends from (investments in) consolidated subsidiaries	629			—			—			(629		)	—
Other, net	15			30			(226		)	—			(181		)
Net cash used in investing activities	(3,959		)	(864		)	(4,784		)	(1,301		)	(10,908		)

Cash flow from financing activities:
Proceeds from debt	11,260			—			241			—			11,501
Repayments of debt and redemption of MMR preferred stock	(4,737		)	(416		)	(551		)	—			(5,704		)
Intercompany loans	—			(391		)	(281		)	672			—
Cash dividends and distributions paid	(2,281		)	—			(885		)	629			(2,537		)
Other, net	(211		)	—			—			—			(211		)
Net cash provided by (used in) financing activities	4,031			(807		)	(1,476		)	1,301			3,049

Net decrease in cash and cash equivalents	—			—			(1,720		)	—			(1,720		)
Decrease in cash and cash equivalents in assets held for sale	—			—			59			—			59
Cash and cash equivalents at beginning of year	—			—			3,569			—			3,569
Cash and cash equivalents at end of year	$	—		$	—		$	1,908		$	—		$	1,908