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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

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