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Debt | 3 Months Ended
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Mar. 31, 2017
Debt Disclosure [Abstract] |
Debt | NOTE 6. DEBT The components of debt follow (in millions):
|  | March 31, 2017 |  | December 31, 2016
Senior notes and debentures: |  |  |  |
Issued by FCX |  | $ | 13,242 |  |  | $ | 13,745 |
Issued by Freeport-McMoRan Oil & Gas LLC (FM O&G LLC) |  | 267 |  |  | 267 |
Issued by FMC |  | 358 |  |  | 359 |
Cerro Verde credit facility |  | 1,267 |  |  | 1,390 |
Cerro Verde shareholder loans |  | 224 |  |  | 261 |
Other |  | 5 |  |  | 5 |
Total debt a |  | 15,363 |  |  | 16,027 |
Less current portion of debt |  | (2,228 | ) |  | (1,232 | )
Long-term debt |  | $ | 13,135 |  |  | $ | 14,795 |
a. | Includes additions for unamortized fair value adjustments totaling $171 million at March 31, 2017 ($179 million at December 31, 2016), and is net of reductions for unamortized net discounts and unamortized debt issuance costs totaling $95 million at March 31, 2017 ($100 million at December 31, 2016).
At March 31, 2017, there were no borrowings outstanding and $39 million in letters of credit issued under FCX’s revolving credit facility, resulting in availability of approximately $3.5 billion, of which approximately $1.5 billion could be used for additional letters of credit. During first-quarter 2017, FCX’s 2.15% Senior Notes matured, and the $500 million outstanding principal balance was repaid. Consolidated interest expense from continuing operations (excluding capitalized interest) totaled $195 million in first-quarter 2017 and $218 million in first-quarter 2016. Capitalized interest added to property, plant, equipment and mine development costs, net, totaled $28 million in first-quarter 2017 and $20 million in first-quarter 2016. Capitalized interest added to oil and gas properties not subject to amortization totaled $7 million in first-quarter 2016 (none in first-quarter 2017).

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: 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 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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