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BUSINESS SEGMENTS INFORMATION (Tables) | 3 Months Ended
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Mar. 31, 2017
Segment Reporting [Abstract] |
Schedule of financial information by business segment | Financial Information by Business Segments
(In millions) |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Atlantic |  | Corporate, |  |
| North America Copper Mines |  | South America Mining |  |  |  |  |  |  |  | Copper |  | Other |  |
|  |  |  |  |  |  | Cerro |  |  |  |  |  | Indonesia |  | Molybdenum |  | Rod & |  | Smelting |  | & Elimi- |  | FCX
| Morenci |  | Other |  | Total |  | Verde |  | Other |  | Total |  | Mining |  | Mines |  | Refining |  | & Refining |  | nations a |  | Total
Three Months Ended March 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unaffiliated customers | $ | 66 |  |  | $ | 50 |  |  | $ | 116 |  |  | $ | 640 |  |  | $ | 112 |  |  | $ | 752 |  |  | $ | 534 |  | b | $ | — |  |  | $ | 1,107 |  |  | $ | 458 |  |  | $ | 374 |  | c | $ | 3,341 |
Intersegment | 416 |  |  | 563 |  |  | 979 |  |  | 116 |  |  | — |  |  | 116 |  |  | — |  |  | 63 |  |  | 8 |  |  | — |  |  | (1,166 | ) |  | — |
Production and delivery | 260 |  | d | 413 |  |  | 673 |  |  | 391 |  |  | 82 |  |  | 473 |  |  | 273 |  | d | 52 |  |  | 1,110 |  |  | 436 |  |  | (817 | ) | e | 2,200 |
Depreciation, depletion and amortization | 47 |  |  | 69 |  |  | 116 |  |  | 112 |  |  | 21 |  |  | 133 |  |  | 83 |  |  | 19 |  |  | 2 |  |  | 7 |  |  | 29 |  |  | 389 |
Selling, general and administrative expenses | — |  |  | 1 |  |  | 1 |  |  | 2 |  |  | — |  |  | 2 |  |  | 30 |  |  | — |  |  | — |  |  | 5 |  |  | 115 |  | f | 153 |
Mining exploration and research expenses | — |  |  | 1 |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 14 |  |  | 15 |
Environmental obligations and shutdown costs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 27 |  |  | 27 |
Net gain on sales of assets | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (23 | ) |  | (23 | )
Operating income (loss) | 175 |  |  | 129 |  |  | 304 |  |  | 251 |  |  | 9 |  |  | 260 |  |  | 148 |  |  | (8 | ) |  | 3 |  |  | 10 |  |  | (137 | ) |  | 580 |
Interest expense, net | 1 |  |  | — |  |  | 1 |  |  | 16 |  |  | — |  |  | 16 |  |  | — |  |  | — |  |  | — |  |  | 4 |  |  | 146 |  |  | 167 |
Provision for income taxes | — |  |  | — |  |  | — |  |  | 98 |  |  | 3 |  |  | 101 |  |  | 67 |  |  | — |  |  | — |  |  | — |  |  | 6 |  |  | 174 |
Total assets at March 31, 2017 | 2,814 |  |  | 4,361 |  |  | 7,175 |  |  | 9,081 |  |  | 1,525 |  |  | 10,606 |  |  | 10,879 |  |  | 1,917 |  |  | 261 |  |  | 652 |  |  | 5,086 |  | g | 36,576 |
Capital expenditures | 23 |  |  | 5 |  |  | 28 |  |  | 14 |  |  | 1 |  |  | 15 |  |  | 244 |  |  | 1 |  |  | 1 |  |  | 8 |  |  | 47 |  | h | 344 |
Three Months Ended March 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unaffiliated customers | $ | 162 |  |  | $ | 56 |  |  | $ | 218 |  |  | $ | 486 |  |  | $ | 144 |  |  | $ | 630 |  |  | $ | 498 |  | b | $ | — |  |  | $ | 971 |  |  | $ | 422 |  |  | $ | 503 |  | c | $ | 3,242 |
Intersegment | 357 |  |  | 561 |  |  | 918 |  |  | 41 |  |  | — |  |  | 41 |  |  | 58 |  |  | 45 |  |  | 8 |  |  | 1 |  |  | (1,071 | ) |  | — |
Production and delivery | 340 |  |  | 448 |  |  | 788 |  |  | 291 |  |  | 119 |  |  | 410 |  |  | 394 |  |  | 52 |  |  | 970 |  |  | 393 |  |  | (508 | ) | e | 2,499 |
Depreciation, depletion and amortization | 62 |  |  | 82 |  |  | 144 |  |  | 101 |  |  | 31 |  |  | 132 |  |  | 81 |  |  | 19 |  |  | 2 |  |  | 8 |  |  | 276 |  |  | 662 |
Impairment of oil and gas properties | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,787 |  |  | 3,787 |
Selling, general and administrative expenses | — |  |  | 1 |  |  | 1 |  |  | 2 |  |  | — |  |  | 2 |  |  | 14 |  |  | — |  |  | — |  |  | 4 |  |  | 117 |  |  | 138 |
Mining exploration and research expenses | — |  |  | 1 |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 17 |  |  | 18 |
Environmental obligations and shutdown costs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 10 |  |  | 10 |
Operating income (loss) | 117 |  |  | 85 |  |  | 202 |  |  | 133 |  |  | (6 | ) |  | 127 |  |  | 67 |  |  | (26 | ) |  | 7 |  |  | 18 |  |  | (4,267 | ) |  | (3,872 | )
Interest expense, net | 1 |  |  | — |  |  | 1 |  |  | 22 |  |  | — |  |  | 22 |  |  | — |  |  | — |  |  | — |  |  | 4 |  |  | 164 |  |  | 191 |
Provision for (benefit from) income taxes | — |  |  | — |  |  | — |  |  | 45 |  |  | (6 | ) |  | 39 |  |  | 36 |  |  | — |  |  | — |  |  | — |  |  | 2 |  |  | 77 |
Total assets at March 31, 2016 | 3,490 |  |  | 4,751 |  |  | 8,241 |  |  | 9,495 |  |  | 1,623 |  |  | 11,118 |  |  | 9,306 |  |  | 1,983 |  |  | 236 |  |  | 653 |  |  | 11,127 |  | g | 42,664 |
Capital expenditures | 28 |  |  | 6 |  |  | 34 |  |  | 156 |  |  | 1 |  |  | 157 |  |  | 222 |  |  | 1 |  |  | 1 |  |  | 2 |  |  | 565 |  | h | 982 |
a. | Includes U.S. oil and gas operations that was previously a reportable segment.
b. | Includes PT-FI’s sales to PT Smelting totaling $258 million in first-quarter 2017 and $277 million in first-quarter 2016.
c. | Includes revenues from FCX’s molybdenum sales company, which includes sales of molybdenum produced by the Molybdenum mines and by certain of the North America and South America copper mines.
d. | Includes $19 million for asset impairments at Morenci and $21 million at PT-FI for costs charged directly to cost of sales as a result of the impact of regulatory restrictions on its concentrate exports.
e. | Includes net credits (charges) for oil and gas operations totaling $20 million in first-quarter 2017 and $(200) million in first-quarter 2016, primarily for drillship settlement/idle rig costs, asset impairment and inventory adjustments.
f. | Includes $21 million for other oil and gas contract termination costs.
g. | Includes assets held for sale totaling $408 million at March 31, 2017, primarily associated with Freeport Cobalt and the Kisanfu exploration project, and $5.3 billion at March 31, 2016, which also included discontinued operations. Also includes $331 million at March 31, 2017, and $4.4 billion at March 31, 2016, associated with oil and gas operations.
h. | Includes $19 million in first-quarter 2017 and $523 million in first-quarter 2016 associated with oil and gas operations. First-quarter 2016 also includes $35 million associated with discontinued operations.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8813-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8736-108599 + Details
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