XML 119 R37.htm IDEA: XBRL DOCUMENT
v3.6.0.2

DEBT (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2016 | Dec. 31, 2014
Debt Instrument, Redemption [Line Items] |  |
Debt Instrument Redemption [Table Text Block] | The senior notes listed below are redeemable in whole or in part, at the option of FCX, at a make-whole redemption price prior to the dates stated below, and beginning on the dates stated below at 100 percent of principal.
Debt Instrument |  | Date
3.55% Senior Notes due 2022 |  | December 1, 2021
3.875% Senior Notes due 2023 |  | December 15, 2022
4.55% Senior Notes due 2024 |  | August 14, 2024
5.40% Senior Notes due 2034 |  | May 14, 2034
5.450% Senior Notes due 2043 |  | September 15, 2042
Schedule of Debt [Table Text Block] | The components of debt follow:
| December 31,
| 2016 |  | 2015
Bank term loan | $ | — |  |  | $ | 3,032 |
Revolving credit facility | — |  |  | — |
Lines of credit | — |  |  | 442 |
Cerro Verde credit facility | 1,390 |  |  | 1,781 |
Cerro Verde shareholder loans | 261 |  |  | 259 |
Senior notes and debentures: |  |  |
Issued by FCX: |  |  |
2.15% Senior Notes due 2017 | 500 |  |  | 499 |
2.30% Senior Notes due 2017 | 728 |  |  | 747 |
2.375% Senior Notes due 2018 | 1,480 |  |  | 1,495 |
6.125% Senior Notes due 2019 | 186 |  |  | — |
3.100% Senior Notes due 2020 | 996 |  |  | 995 |
6½% Senior Notes due 2020 | 583 |  |  | — |
6.625% Senior Notes due 2021 | 242 |  |  | — |
4.00% Senior Notes due 2021 | 595 |  |  | 594 |
6.75% Senior Notes due 2022 | 432 |  |  | — |
3.55% Senior Notes due 2022 | 1,882 |  |  | 1,987 |
67/8% Senior Notes due 2023 | 784 |  |  | — |
3.875% Senior Notes due 2023 | 1,912 |  |  | 1,987 |
4.55% Senior Notes due 2024 | 844 |  |  | 843 |
5.40% Senior Notes due 2034 | 739 |  |  | 788 |
5.450% Senior Notes due 2043 | 1,842 |  |  | 1,973 |
Issued by Freeport-McMoRan Oil & Gas LLC (FM O&G LLC): |  |  |
6.125% Senior Notes due 2019 | 60 |  |  | 251 |
6½% Senior Notes due 2020 | 69 |  |  | 662 |
6.625% Senior Notes due 2021 | 35 |  |  | 281 |
6.75% Senior Notes due 2022 | 48 |  |  | 488 |
67/8% Senior Notes due 2023 | 55 |  |  | 857 |
Issued by FMC: |  |  |
71/8% Debentures due 2027 | 115 |  |  | 115 |
9½% Senior Notes due 2031 | 128 |  |  | 128 |
61/8% Senior Notes due 2034 | 116 |  |  | 116 |
Other | 5 |  |  | 4 |
Total debt | 16,027 |  |  | 20,324 |
Less current portion of debt | (1,232 | ) |  | (649 | )
Long-term debt | $ | 14,795 |  |  | $ | 19,675 |
Schedule of Long-term Debt Instruments [Table Text Block] | A summary of the tenders follows:
| Principal Amount Outstanding |  | Principal Amount Tendered |  | Book Value of New FCX Senior Notes
6.125% Senior Notes due 2019 | $ | 237 |  |  | $ | 179 |  |  | $ | 186 |
6½% Senior Notes due 2020 | 617 |  |  | 552 |  |  | 583 |
6.625% Senior Notes due 2021 | 261 |  |  | 228 |  |  | 242 |
6.75% Senior Notes due 2022 | 449 |  |  | 404 |  |  | 432 |
67/8% Senior Notes due 2023 | 778 |  |  | 728 |  |  | 785 |
| $ | 2,342 |  |  | $ | 2,091 |  |  | $ | 2,228 |
Schedule of extinguishment of debt | A summary of these debt extinguishments follows:
| Principal Amount |  | Discounts/Deferred Debt Issuance Costs |  | Book Value |  | Redemption Value |  | Gain
2.30% Senior Notes due 2017 | $ | 20 |  |  | $ | — |  |  | $ | 20 |  |  | $ | 20 |  |  | $ | — |
2.375% Senior Notes due 2018 | 18 |  |  | — |  |  | 18 |  |  | 18 |  |  | — |
3.55% Senior Notes due 2022 | 108 |  |  | 1 |  |  | 107 |  |  | 96 |  |  | 11 |
3.875% Senior Notes due 2023 | 77 |  |  | — |  |  | 77 |  |  | 68 |  |  | 9 |
5.40% Senior Notes due 2034 | 50 |  |  | 1 |  |  | 49 |  |  | 41 |  |  | 8 |
5.450% Senior Notes due 2043 | 134 |  |  | 2 |  |  | 132 |  |  | 106 |  |  | 26 |
| $ | 407 |  |  | $ | 4 |  |  | $ | 403 |  |  | $ | 349 |  |  | $ | 54 |
| A summary of debt extinguishments during 2014 resulting from redemptions and tender offers follows:
| Principal Amount |  | Purchase Accounting Fair- Value Adjustments |  | Book Value |  | Redemption Value |  | Gain (Loss)
1.40% Senior Notes due 2015 | $ | 500 |  |  | $ | — |  |  | $ | 500 |  |  | $ | 501 |  |  | $ | (1 | )
6.125% Senior Notes due 2019 | 513 |  |  | 40 |  |  | 553 |  |  | 555 |  |  | (2 | )
8.625% Senior Notes due 2019 | 400 |  |  | 41 |  |  | 441 |  |  | 417 |  |  | 24 |
7.625% Senior Notes due 2020 | 300 |  |  | 32 |  |  | 332 |  |  | 318 |  |  | 14 |
6½% Senior Notes due 2020 | 883 |  |  | 79 |  |  | 962 |  |  | 952 |  |  | 10 |
6.625% Senior Notes due 2021 | 339 |  |  | 31 |  |  | 370 |  |  | 367 |  |  | 3 |
6.75% Senior Notes due 2022 | 551 |  |  | 57 |  |  | 608 |  |  | 600 |  |  | 8 |
67/8% Senior Notes due 2023 | 722 |  |  | 84 |  |  | 806 |  |  | 785 |  |  | 21 |
| $ | 4,208 |  |  | $ | 364 |  |  | $ | 4,572 |  |  | $ | 4,495 |  |  | $ | 77 |

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentRedemptionLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of debt instruments or arrangements with redemption features. Includes, but is not limited to, description of debt redemption features, percentage price at which debt can be redeemed by the issuer, and period start and end for debt maturity or redemption. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentRedemptionTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=64930739&loc=d3e28878-108400 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28541-108399 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28551-108399 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644 + Details
Name: | us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of debt extinguished which may include, amount of gain (loss), the income tax effect and the per share amount of the aggregate gain (loss), net of the related income tax. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7516071&loc=d3e13374-112631 + Details
Name: | us-gaap_ScheduleOfExtinguishmentOfDebtTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration