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Business Segments (Tables) | 6 Months Ended
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Jun. 30, 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 |  |  |  |  |  |  |  | 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 June 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unaffiliated customers | $ | 45 |  |  | $ | 32 |  |  | $ | 77 |  |  | $ | 567 |  |  | $ | 111 |  |  | $ | 678 |  |  | $ | 1,065 |  | b | $ | — |  |  | $ | 1,046 |  |  | $ | 400 |  |  | $ | 445 |  | c | $ | 3,711 |  |
Intersegment | 478 |  |  | 593 |  |  | 1,071 |  |  | 57 |  |  | — |  |  | 57 |  |  | — |  |  | 71 |  |  | 6 |  |  | — |  |  | (1,205 | ) |  | — |  |
Production and delivery | 268 |  |  | 457 |  |  | 725 |  |  | 376 |  |  | 87 |  |  | 463 |  |  | 554 |  | d | 59 |  |  | 1,048 |  |  | 400 |  |  | (754 | ) | e | 2,495 |  |
Depreciation, depletion and amortization | 49 |  |  | 69 |  |  | 118 |  |  | 104 |  |  | 21 |  |  | 125 |  |  | 153 |  |  | 19 |  |  | 3 |  |  | 7 |  |  | 25 |  |  | 450 |  |
Selling, general and administrative expenses | 1 |  |  | — |  |  | 1 |  |  | 3 |  |  | — |  |  | 3 |  |  | 30 |  | d | — |  |  | — |  |  | 4 |  |  | 69 |  |  | 107 |  |
Mining exploration and research expenses | — |  |  | 1 |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 18 |  |  | 19 |  |
Environmental obligations and shutdown costs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (19 | ) |  | (19 | ) |
Net gain on sales of assets | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (10 | ) |  | (10 | ) |
Operating income (loss) | 205 |  |  | 98 |  |  | 303 |  |  | 141 |  |  | 3 |  |  | 144 |  |  | 328 |  |  | (7 | ) |  | 1 |  |  | (11 | ) |  | (89 | ) |  | 669 |  |
Interest expense, net | — |  |  | 1 |  |  | 1 |  |  | 15 |  |  | — |  |  | 15 |  |  | — |  |  | — |  |  | — |  |  | 4 |  |  | 142 |  |  | 162 |  |
Provision for (benefit from) income taxes | — |  |  | — |  |  | — |  |  | 56 |  |  | 2 |  |  | 58 |  |  | 135 |  |  | — |  |  | — |  |  | 3 |  |  | (10 | ) |  | 186 |  |
Total assets at June 30, 2017 | 2,830 |  |  | 4,314 |  |  | 7,144 |  |  | 8,828 |  |  | 1,479 |  |  | 10,307 |  |  | 11,154 |  |  | 1,900 |  |  | 253 |  |  | 739 |  |  | 5,546 |  | f | 37,043 |  |
Capital expenditures | 29 |  |  | 10 |  |  | 39 |  |  | 29 |  |  | 1 |  |  | 30 |  |  | 213 |  |  | 1 |  |  | 1 |  |  | 17 |  |  | 61 |  | g | 362 |  |
Three Months Ended June 30, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unaffiliated customers | $ | 79 |  |  | $ | 43 |  |  | $ | 122 |  |  | $ | 494 |  |  | $ | 123 |  |  | $ | 617 |  |  | $ | 532 |  | b | $ | — |  |  | $ | 919 |  |  | $ | 493 |  |  | $ | 651 |  | c | $ | 3,334 |  |
Intersegment | 404 |  |  | 534 |  |  | 938 |  |  | 60 |  |  | — |  |  | 60 |  |  | (1 | ) | h | 45 |  |  | 7 |  |  | 2 |  |  | (1,051 | ) |  | — |  |
Production and delivery | 298 |  |  | 428 |  |  | 726 |  |  | 303 |  |  | 103 |  |  | 406 |  |  | 356 |  |  | 50 |  |  | 919 |  |  | 466 |  |  | 33 |  | e | 2,956 |  |
Depreciation, depletion and amortization | 57 |  |  | 77 |  |  | 134 |  |  | 109 |  |  | 27 |  |  | 136 |  |  | 93 |  |  | 17 |  |  | 3 |  |  | 7 |  |  | 242 |  |  | 632 |  |
Impairment of oil and gas properties | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 291 |  |  | 291 |  |
Selling, general and administrative expenses | 1 |  |  | 1 |  |  | 2 |  |  | 2 |  |  | — |  |  | 2 |  |  | 22 |  |  | — |  |  | — |  |  | 4 |  |  | 130 |  | i | 160 |  |
Mining exploration and research expenses | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 15 |  |  | 15 |  |
Environmental obligations and shutdown costs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 11 |  |  | 11 |  |
Net gain on sales of assets | (577 | ) |  | — |  |  | (577 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (172 | ) |  | (749 | ) |
Operating income (loss) | 704 |  |  | 71 |  |  | 775 |  |  | 140 |  |  | (7 | ) |  | 133 |  |  | 60 |  |  | (22 | ) |  | 4 |  |  | 18 |  |  | (950 | ) |  | 18 |  |
Interest expense, net | — |  |  | 1 |  |  | 1 |  |  | 20 |  |  | — |  |  | 20 |  |  | — |  |  | — |  |  | — |  |  | 4 |  |  | 171 |  |  | 196 |  |
Provision for (benefit from) income taxes | — |  |  | — |  |  | — |  |  | 45 |  |  | (2 | ) |  | 43 |  |  | 18 |  |  | — |  |  | — |  |  | 1 |  |  | 54 |  |  | 116 |  |
Total assets at June 30, 2016 | 2,960 |  |  | 4,676 |  |  | 7,636 |  |  | 9,330 |  |  | 1,609 |  |  | 10,939 |  |  | 9,499 |  |  | 1,969 |  |  | 217 |  |  | 607 |  |  | 10,429 |  | f | 41,296 |  |
Capital expenditures | 37 |  |  | 5 |  |  | 42 |  |  | 135 |  |  | 1 |  |  | 136 |  |  | 231 |  |  | — |  |  | — |  |  | 5 |  |  | 419 |  | g | 833 |  |
a. | Includes U.S. oil and gas operations, which were previously a reportable segment.
b. | Includes PT-FI's sales to PT Smelting totaling $536 million in second-quarter 2017 and $287 million in second-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 net charges at PT-FI associated with workforce reductions totaling $82 million in production and delivery costs and $5 million in selling, general and administrative expenses.
e. | Includes net credits (charges) for oil and gas operations totaling $6 million in second-quarter 2017, primarily associated with adjustments to the fair value of contingent payments for the 2016 drillship settlements and $(692) million in second-quarter 2016 for drillship settlements, inventory adjustments and asset impairment.
f. | Includes assets held for sale totaling $463 million at June 30, 2017, primarily associated with Freeport Cobalt and the Kisanfu exploration project, and $5.1 billion at June 30, 2016, which also included discontinued operations. Also includes assets associated with oil and gas operations of $316 million at June 30, 2017, and $3.9 billion at June 30, 2016.
g. | Includes $14 million in second-quarter 2017 and $392 million in second-quarter 2016 associated with oil and gas operations. Second-quarter 2016 also includes $20 million associated with discontinued operations.
h. | Reflects net reductions for provisional pricing adjustments to prior period open sales. There were no intersegment sales from Grasberg in second-quarter 2016.
i. | Includes other oil and gas net charges of $37 million in second-quarter 2016 for net restructuring.
(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 |
Six Months Ended June 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unaffiliated customers | $ | 111 |  |  | $ | 82 |  |  | $ | 193 |  |  | $ | 1,207 |  |  | $ | 223 |  |  | $ | 1,430 |  |  | $ | 1,599 |  | b | $ | — |  |  | $ | 2,153 |  |  | $ | 858 |  |  | $ | 819 |  | c | $ | 7,052 |  |
Intersegment | 894 |  |  | 1,156 |  |  | 2,050 |  |  | 173 |  |  | — |  |  | 173 |  |  | — |  |  | 134 |  |  | 14 |  |  | — |  |  | (2,371 | ) |  | — |  |
Production and delivery | 528 |  | d | 870 |  |  | 1,398 |  |  | 767 |  |  | 169 |  |  | 936 |  |  | 827 |  | e | 111 |  |  | 2,158 |  |  | 836 |  |  | (1,571 | ) | f | 4,695 |  |
Depreciation, depletion and amortization | 96 |  |  | 138 |  |  | 234 |  |  | 216 |  |  | 42 |  |  | 258 |  |  | 236 |  |  | 38 |  |  | 5 |  |  | 14 |  |  | 54 |  |  | 839 |  |
Selling, general and administrative expenses | 1 |  |  | 1 |  |  | 2 |  |  | 5 |  |  | — |  |  | 5 |  |  | 60 |  | e | — |  |  | — |  |  | 9 |  |  | 184 |  | g | 260 |  |
Mining exploration and research expenses | — |  |  | 2 |  |  | 2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 32 |  |  | 34 |  |
Environmental obligations and shutdown costs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 8 |  |  | 8 |  |
Net gain on sales of assets | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (33 | ) |  | (33 | ) |
Operating income (loss) | 380 |  |  | 227 |  |  | 607 |  |  | 392 |  |  | 12 |  |  | 404 |  |  | 476 |  |  | (15 | ) |  | 4 |  |  | (1 | ) |  | (226 | ) |  | 1,249 |  |
Interest expense, net | 1 |  |  | 1 |  |  | 2 |  |  | 31 |  |  | — |  |  | 31 |  |  | — |  |  | — |  |  | — |  |  | 8 |  |  | 288 |  |  | 329 |  |
Provision for (benefit from) income taxes | — |  |  | — |  |  | — |  |  | 154 |  |  | 5 |  |  | 159 |  |  | 202 |  |  | — |  |  | — |  |  | 3 |  |  | (4 | ) |  | 360 |  |
Capital expenditures | 52 |  |  | 15 |  |  | 67 |  |  | 43 |  |  | 2 |  |  | 45 |  |  | 457 |  |  | 2 |  |  | 2 |  |  | 25 |  |  | 108 |  | h | 706 |  |
Six Months Ended June 30, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unaffiliated customers | $ | 241 |  |  | $ | 99 |  |  | $ | 340 |  |  | $ | 980 |  |  | $ | 267 |  |  | $ | 1,247 |  |  | $ | 1,030 |  | b | $ | — |  |  | $ | 1,890 |  |  | $ | 915 |  |  | $ | 1,154 |  | c | $ | 6,576 |  |
Intersegment | 761 |  |  | 1,095 |  |  | 1,856 |  |  | 101 |  |  | — |  |  | 101 |  |  | 57 |  |  | 90 |  |  | 15 |  |  | 3 |  |  | (2,122 | ) |  | — |  |
Production and delivery | 638 |  |  | 876 |  |  | 1,514 |  |  | 594 |  |  | 222 |  |  | 816 |  |  | 750 |  |  | 102 |  |  | 1,889 |  |  | 859 |  |  | (475 | ) | f | 5,455 |  |
Depreciation, depletion and amortization | 119 |  |  | 159 |  |  | 278 |  |  | 210 |  |  | 58 |  |  | 268 |  |  | 174 |  |  | 36 |  |  | 5 |  |  | 15 |  |  | 518 |  |  | 1,294 |  |
Impairment of oil and gas properties | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4,078 |  |  | 4,078 |  |
Selling, general and administrative expenses | 1 |  |  | 2 |  |  | 3 |  |  | 4 |  |  | — |  |  | 4 |  |  | 36 |  |  | — |  |  | — |  |  | 8 |  |  | 247 |  | g | 298 |  |
Mining exploration and research expenses | — |  |  | 1 |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 32 |  |  | 33 |  |
Environmental obligations and shutdown costs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 21 |  |  | 21 |  |
Net gain on sales of assets | (577 | ) |  | — |  |  | (577 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (172 | ) |  | (749 | ) |
Operating income (loss) | 821 |  |  | 156 |  |  | 977 |  |  | 273 |  |  | (13 | ) |  | 260 |  |  | 127 |  |  | (48 | ) |  | 11 |  |  | 36 |  |  | (5,217 | ) |  | (3,854 | ) |
Interest expense, net | 1 |  |  | 1 |  |  | 2 |  |  | 42 |  |  | — |  |  | 42 |  |  | — |  |  | — |  |  | — |  |  | 8 |  |  | 335 |  |  | 387 |  |
Provision for (benefit from) income taxes | — |  |  | — |  |  | — |  |  | 90 |  |  | (8 | ) |  | 82 |  |  | 54 |  |  | — |  |  | — |  |  | 1 |  |  | 56 |  |  | 193 |  |
Capital expenditures | 65 |  |  | 11 |  |  | 76 |  |  | 291 |  |  | 2 |  |  | 293 |  |  | 453 |  |  | 1 |  |  | 1 |  |  | 7 |  |  | 984 |  | h | 1,815 |  |
a. | Includes U.S. oil and gas operations, which were previously a reportable segment.
b. | Includes PT-FI’s sales to PT Smelting totaling $794 million for the first six months of 2017 and $564 million for the first six months of 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 asset impairment charges totaling $21 million.
e. | Includes net charges at PT-FI associated with workforce reductions totaling $103 million in production and delivery costs and $5 million in selling, general and administrative expenses.
f. | Includes net credits (charges) for oil and gas operations totaling $26 million for the first six months of 2017, primarily associated with adjustments to the fair value of the contingent payments for the 2016 drillship settlements and $(892) million for the first six months of 2016 for drillship settlement/idle rig costs, inventory adjustments and asset impairment.
g. | Includes other oil and gas charges of $17 million for the first six months of 2017 for other contract termination charges and $39 million for the first six months of 2016 for net restructuring charges.
h. | Includes $33 million for the first six months of 2017 and $915 million for the first six months of 2016 associated with oil and gas operations. The first six months of 2016 also includes $55 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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