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QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Footnotes) (Details) - USD ($) $ / shares in Units, $ in Millions | 1 Months Ended | 3 Months Ended | 12 Months Ended
--- | --- | --- | ---
Dec. 31, 2016 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014
Schedule of Quarterly Financial Information [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Loss on derivative instruments |  |  |  |  |  |  |  |  |  | $ 35 | $ (87) | $ (504)
Oil and Gas Idle rig costs, inventory adjustments, asset impairments and other |  | $ 142 | $ 50 | $ 729 | $ 201 | $ 129 | $ 21 | $ 22 | $ 17 | $ 1,100 | 188 |
Oil and Gas Idle Rig Costs, Inventory Adjustments, Asset Impairments and Other, Net of Taxes |  |  |  |  |  | $ 81 | $ 13 | $ 14 | $ 10 |  | $ 117 |
Oil and Gas Idle Rig Costs, Inventory Adjustments, Asset Impairments and Other, Amount per Share |  | $ 0.09 | $ 0.03 | $ 0.57 | $ 0.16 | $ 0.07 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.84 | $ 0.11 |
Metals inventory adjustments |  | $ (9) | $ (20) | $ (2) | $ (5) | $ (184) | $ (91) | $ (59) | $ (4) | $ (36) | $ (338) | (6)
Metal inventory adjustment, net of tax |  |  |  |  |  | $ 118 | $ 58 | $ 38 | 3 |  | $ 217 |
Metal inventory adjustment (usd per share) |  | $ 0.01 | $ 0.01 |  |  | $ 0.10 | $ 0.05 | $ 0.04 |  | $ 0.03 | $ 0.20 |
Impairment of oil and gas properties |  |  | $ 239 | $ 291 | $ 3,800 | $ 3,700 | $ 3,700 | $ 2,700 | 3,100 | $ 4,317 | $ 13,144 | 3,737
Impairment of oil and gas properties, net of tax |  |  |  |  |  | $ 3,700 | $ 3,500 | $ 2,000 | $ 2,400 |  | $ 11,600 |
Impairment of oil and gas properties (usd per share) |  |  | $ 0.18 | $ 0.23 | $ 3.03 | $ 3.18 | $ 3.25 | $ 1.90 | $ 2.31 | $ 3.28 | $ 10.72 |
Net gain on sales of assets |  | $ (113) |  | $ 13 | $ 749 |  |  |  | $ 39 | $ 649 | $ 39 | $ 717
Net gains on sales of assets, net of tax |  | $ (108) |  | $ 13 | $ 744 |  |  |  | $ 25 | $ 649 | $ 25 |
Net gains on sales of assets (usd per share) |  | $ (0.08) |  | $ 0.01 | $ 0.59 |  |  |  | $ 0.02 | $ 0.49 | $ 0.02 |
Restructuring and asset impairment charges |  | $ 16 | $ 17 |  |  | $ 53 | $ 92 |  |  | $ 33 | $ 145 |
Restructuring and asset impairment charges, net of tax |  | 5 | $ 9 |  |  | $ 34 | $ 56 |  |  | $ 14 | $ 90 |
Restructuring and asset impairment charges (usd per share) |  |  | $ 0.01 |  |  | $ 0.03 | $ 0.05 |  |  | $ 0.01 | $ 0.08 |
Gain (loss) on exchange and early extinguishment of debt |  | $ (25) | $ 15 | $ 39 | $ (3) |  |  |  |  | $ 26 |  |
Gain (loss) on exchange and early extinguishment of debt (usd per share) |  | $ (0.02) | $ 0.01 | $ 0.03 |  |  |  |  |  | $ 0.02 |  |
Gain on proceeds received from insurance |  |  |  |  |  |  |  | $ 92 |  |  |  |
Gain on proceeds received from insurance (usd per share) |  |  |  |  |  |  |  | $ 0.09 |  |  |  |
Earnings per share, basic and diluted (in dollars per share) |  | $ 0.21 | $ 0.16 | $ (0.38) | $ (3.35) | $ (3.47) | $ (3.58) | $ (1.78) | $ (2.38) | $ (3.16) | $ (11.31) | $ (1.26)
TF Holdings Limited | Disposed of by Sale, Discontinued Operations |  |  |  |  |  |  |  |  |  |  |  |
Schedule of Quarterly Financial Information [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax |  | $ (16) | $ (5) | $ (177) |  |  |  |  |  | $ (198) |  |
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax, Per Basic and Diluted Share |  | $ (0.01) |  | $ (0.14) |  |  |  |  |  | $ (0.15) |  |
Freeport-McMoRan Oil & Gas | Deepwater Gulf of Mexico and onshore California oil and gas properties |  |  |  |  |  |  |  |  |  |  |  |
Schedule of Quarterly Financial Information [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Gain on redemption of preferred stock | $ 199 | $ 199 |  |  |  |  |  |  |  | $ 199 |  |
Gain (Loss) on Disposition of Stock in Subsidiary or Equity Method Investee, Amount Per Share |  | $ 0.14 |  |  |  |  |  |  |  | $ 0.15 |  |
Crude Oil and Natural Gas Swaps [Member] |  |  |  |  |  |  |  |  |  |  |  |
Schedule of Quarterly Financial Information [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Loss on derivative instruments |  | $ 41 |  |  |  | $ 102 | $ 74 | $ 95 | $ 48 | $ 41 | $ 319 |
Loss on derivative instruments, net of tax |  | $ 41 |  |  |  | $ 63 | $ 46 | $ 59 | $ 30 | $ 41 | $ 198 |
Loss on derivative instruments (usd per share) |  | $ 0.03 |  |  |  | $ 0.05 | $ 0.04 | $ 0.06 | $ 0.03 | $ 0.03 | $ 0.18 |

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