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Business Segments (Tables) | 9 Months Ended
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Sep. 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 September 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unaffiliated customers | $ | 57 |  |  | $ | 40 |  |  | $ | 97 |  |  | $ | 850 |  |  | $ | 109 |  |  | $ | 959 |  |  | $ | 1,121 |  | b | $ | — |  |  | $ | 1,137 |  |  | $ | 554 |  |  | $ | 442 |  | c | $ | 4,310 |  |
Intersegment | 460 |  |  | 548 |  |  | 1,008 |  |  | 64 |  |  | — |  |  | 64 |  |  | — |  |  | 65 |  |  | 8 |  |  | 1 |  |  | (1,146 | ) |  | — |  |
Production and delivery | 244 |  |  | 414 |  |  | 658 |  |  | 683 |  | d | 76 |  |  | 759 |  |  | 406 |  |  | 58 |  |  | 1,141 |  |  | 533 |  |  | (753 | ) |  | 2,802 |  |
Depreciation, depletion and amortization | 42 |  |  | 54 |  |  | 96 |  |  | 116 |  |  | 18 |  |  | 134 |  |  | 136 |  |  | 20 |  |  | 2 |  |  | 7 |  |  | 23 |  |  | 418 |  |
Selling, general and administrative expenses | 1 |  |  | 1 |  |  | 2 |  |  | 2 |  |  | — |  |  | 2 |  |  | 32 |  |  | — |  |  | — |  |  | 4 |  |  | 66 |  |  | 106 |  |
Mining exploration and research expenses | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 27 |  |  | 27 |  |
Environmental obligations and shutdown costs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 73 |  |  | 73 |  |
Net gain on sales of assets | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (33 | ) |  | (33 | ) |
Operating income (loss) | 230 |  |  | 119 |  |  | 349 |  |  | 113 |  |  | 15 |  |  | 128 |  |  | 547 |  |  | (13 | ) |  | 2 |  |  | 11 |  |  | (107 | ) |  | 917 |  |
Interest expense, net | 1 |  |  | — |  |  | 1 |  |  | 156 |  | d | — |  |  | 156 |  |  | 1 |  |  | — |  |  | — |  |  | 5 |  |  | 141 |  |  | 304 |  |
Provision for income taxes | — |  |  | — |  |  | — |  |  | 134 |  | d | 5 |  |  | 139 |  |  | 233 |  |  | — |  |  | — |  |  | 1 |  |  | 14 |  |  | 387 |  |
Total assets at September 30, 2017 | 2,844 |  |  | 4,223 |  |  | 7,067 |  |  | 8,851 |  |  | 1,595 |  |  | 10,446 |  |  | 11,100 |  |  | 1,885 |  |  | 264 |  |  | 751 |  |  | 5,814 |  | e | 37,327 |  |
Capital expenditures | 26 |  |  | 13 |  |  | 39 |  |  | 17 |  |  | 3 |  |  | 20 |  |  | 206 |  |  | 2 |  |  | 1 |  |  | 5 |  |  | 41 |  |  | 314 |  |
Three Months Ended September 30, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unaffiliated customers | $ | 115 |  |  | $ | 112 |  |  | $ | 227 |  |  | $ | 505 |  |  | $ | 112 |  |  | $ | 617 |  |  | $ | 984 |  | b | $ | — |  |  | $ | 930 |  |  | $ | 445 |  |  | $ | 674 |  | c | $ | 3,877 |  |
Intersegment | 358 |  |  | 499 |  |  | 857 |  |  | 54 |  |  | — |  |  | 54 |  |  | 2 |  |  | 46 |  |  | 7 |  |  | — |  |  | (966 | ) |  | — |  |
Production and delivery | 275 |  |  | 464 |  |  | 739 |  |  | 333 |  |  | 91 |  |  | 424 |  |  | 478 |  |  | 57 |  |  | 931 |  |  | 416 |  |  | (516 | ) | f | 2,529 |  |
Depreciation, depletion and amortization | 51 |  |  | 78 |  |  | 129 |  |  | 109 |  |  | 25 |  |  | 134 |  |  | 110 |  |  | 15 |  |  | 2 |  |  | 7 |  |  | 246 |  |  | 643 |  |
Impairment of oil and gas properties | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 239 |  |  | 239 |  |
Selling, general and administrative expenses | 1 |  |  | — |  |  | 1 |  |  | 1 |  |  | 1 |  |  | 2 |  |  | 24 |  |  | — |  |  | — |  |  | 5 |  |  | 78 |  |  | 110 |  |
Mining exploration and research expenses | — |  |  | 1 |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 12 |  |  | 13 |  |
Environmental obligations and shutdown costs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (3 | ) |  | (3 | ) |
Net loss (gain) on sales of assets | 1 |  |  | — |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (14 | ) |  | (13 | ) |
Operating income (loss) | 145 |  |  | 68 |  |  | 213 |  |  | 116 |  |  | (5 | ) |  | 111 |  |  | 374 |  |  | (26 | ) |  | 4 |  |  | 17 |  |  | (334 | ) |  | 359 |  |
Interest expense, net | 1 |  |  | — |  |  | 1 |  |  | 21 |  |  | — |  |  | 21 |  |  | — |  |  | — |  |  | — |  |  | 3 |  |  | 162 |  |  | 187 |  |
Provision for (benefit from) income taxes | — |  |  | — |  |  | — |  |  | 36 |  |  | (4 | ) |  | 32 |  |  | 158 |  |  | — |  |  | — |  |  | 4 |  |  | (308 | ) |  | (114 | ) |
Total assets at September 30, 2016 | 2,881 |  |  | 4,540 |  |  | 7,421 |  |  | 9,139 |  |  | 1,551 |  |  | 10,690 |  |  | 9,718 |  |  | 1,953 |  |  | 238 |  |  | 565 |  |  | 10,815 |  | e | 41,400 |  |
Capital expenditures | 6 |  |  | 5 |  |  | 11 |  |  | 38 |  |  | 1 |  |  | 39 |  |  | 253 |  |  | 1 |  |  | — |  |  | 5 |  |  | 185 |  | g | 494 |  |
a. | Includes U.S. oil and gas operations, which were previously a reportable segment.
b. | Includes PT-FI's sales to PT Smelting totaling $652 million in third-quarter 2017 and $348 million in third-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 of $216 million in production and delivery costs, $141 million in interest expense and $2 million in provision for income taxes associated with disputed royalties for prior years.
e. | Includes assets held for sale totaling $549 million at September 30, 2017, primarily associated with Freeport Cobalt and the Kisanfu exploration project, and $5.1 billion at September 30, 2016, which also included discontinued operations. Also includes assets associated with oil and gas operations of $272 million at September 30, 2017, and $3.5 billion at September 30, 2016.
f. | Includes net charges for oil and gas operations totaling $49 million, primarily for idle rig costs, inventory adjustments and the termination of the Morocco well commitment.
g. | Includes $160 million associated with oil and gas operations and $15 million associated with discontinued operations.
(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 |
Nine Months Ended September 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unaffiliated customers | $ | 168 |  |  | $ | 122 |  |  | $ | 290 |  |  | $ | 2,057 |  |  | $ | 332 |  |  | $ | 2,389 |  |  | $ | 2,720 |  | b | $ | — |  |  | $ | 3,290 |  |  | $ | 1,412 |  |  | $ | 1,261 |  | c | $ | 11,362 |  |
Intersegment | 1,354 |  |  | 1,704 |  |  | 3,058 |  |  | 237 |  |  | — |  |  | 237 |  |  | — |  |  | 199 |  |  | 22 |  |  | 1 |  |  | (3,517 | ) |  | — |  |
Production and delivery | 772 |  |  | 1,284 |  |  | 2,056 |  |  | 1,450 |  | d | 245 |  |  | 1,695 |  |  | 1,233 |  | e | 169 |  |  | 3,299 |  |  | 1,369 |  |  | (2,324 | ) |  | 7,497 |  |
Depreciation, depletion and amortization | 138 |  |  | 192 |  |  | 330 |  |  | 332 |  |  | 60 |  |  | 392 |  |  | 372 |  |  | 58 |  |  | 7 |  |  | 21 |  |  | 77 |  |  | 1,257 |  |
Selling, general and administrative expenses | 2 |  |  | 2 |  |  | 4 |  |  | 7 |  |  | — |  |  | 7 |  |  | 92 |  | e | — |  |  | — |  |  | 13 |  |  | 250 |  |  | 366 |  |
Mining exploration and research expenses | — |  |  | 2 |  |  | 2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 59 |  |  | 61 |  |
Environmental obligations and shutdown costs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 81 |  |  | 81 |  |
Net gain on sales of assets | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (66 | ) |  | (66 | ) |
Operating income (loss) | 610 |  |  | 346 |  |  | 956 |  |  | 505 |  |  | 27 |  |  | 532 |  |  | 1,023 |  |  | (28 | ) |  | 6 |  |  | 10 |  |  | (333 | ) |  | 2,166 |  |
Interest expense, net | 2 |  |  | 1 |  |  | 3 |  |  | 187 |  | d | — |  |  | 187 |  |  | 1 |  |  | — |  |  | — |  |  | 13 |  |  | 429 |  |  | 633 |  |
Provision for income taxes | — |  |  | — |  |  | — |  |  | 288 |  | d | 10 |  |  | 298 |  |  | 435 |  |  | — |  |  | — |  |  | 4 |  |  | 10 |  |  | 747 |  |
Capital expenditures | 78 |  |  | 28 |  |  | 106 |  |  | 60 |  |  | 5 |  |  | 65 |  |  | 663 |  |  | 4 |  |  | 3 |  |  | 30 |  |  | 149 |  |  | 1,020 |  |
Nine Months Ended September 30, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unaffiliated customers | $ | 356 |  |  | $ | 211 |  |  | $ | 567 |  |  | $ | 1,485 |  |  | $ | 379 |  |  | $ | 1,864 |  |  | $ | 2,014 |  | b | $ | — |  |  | $ | 2,820 |  |  | $ | 1,360 |  |  | $ | 1,828 |  | c | $ | 10,453 |  |
Intersegment | 1,119 |  |  | 1,594 |  |  | 2,713 |  |  | 155 |  |  | — |  |  | 155 |  |  | 59 |  |  | 136 |  |  | 22 |  |  | 3 |  |  | (3,088 | ) |  | — |  |
Production and delivery | 913 |  |  | 1,340 |  |  | 2,253 |  |  | 927 |  |  | 313 |  |  | 1,240 |  |  | 1,228 |  |  | 159 |  |  | 2,820 |  |  | 1,275 |  |  | (991 | ) | f | 7,984 |  |
Depreciation, depletion and amortization | 170 |  |  | 237 |  |  | 407 |  |  | 319 |  |  | 83 |  |  | 402 |  |  | 284 |  |  | 51 |  |  | 7 |  |  | 22 |  |  | 764 |  |  | 1,937 |  |
Impairment of oil and gas properties | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4,317 |  |  | 4,317 |  |
Selling, general and administrative expenses | 2 |  |  | 2 |  |  | 4 |  |  | 5 |  |  | 1 |  |  | 6 |  |  | 60 |  |  | — |  |  | — |  |  | 13 |  |  | 325 |  | f | 408 |  |
Mining exploration and research expenses | — |  |  | 2 |  |  | 2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 44 |  |  | 46 |  |
Environmental obligations and shutdown costs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 18 |  |  | 18 |  |
Net gain on sales of assets | (576 | ) |  | — |  |  | (576 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (186 | ) |  | (762 | ) |
Operating income (loss) | 966 |  |  | 224 |  |  | 1,190 |  |  | 389 |  |  | (18 | ) |  | 371 |  |  | 501 |  |  | (74 | ) |  | 15 |  |  | 53 |  |  | (5,551 | ) |  | (3,495 | ) |
Interest expense, net | 2 |  |  | 1 |  |  | 3 |  |  | 63 |  |  | — |  |  | 63 |  |  | — |  |  | — |  |  | — |  |  | 11 |  |  | 497 |  |  | 574 |  |
Provision for (benefit from) income taxes | — |  |  | — |  |  | — |  |  | 126 |  |  | (12 | ) |  | 114 |  |  | 212 |  |  | — |  |  | — |  |  | 5 |  |  | (252 | ) |  | 79 |  |
Capital expenditures | 71 |  |  | 16 |  |  | 87 |  |  | 329 |  |  | 3 |  |  | 332 |  |  | 706 |  |  | 2 |  |  | 1 |  |  | 12 |  |  | 1,169 |  | g | 2,309 |  |
a. | Includes U.S. oil and gas operations, which were previously a reportable segment.
b. | Includes PT-FI’s sales to PT Smelting totaling $1.4 billion for the first nine months of 2017 and $912 million for the first nine 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 net charges of $216 million in production and delivery costs, $141 million in interest expense and $2 million in provision for income taxes associated with disputed royalties for prior years.
e. | Includes net charges of $112 million in production and delivery costs and $5 million in selling, general and administrative expenses for PT-FI workforce reductions.
f. | Includes net charges for oil and gas operations of $942 million in production and delivery costs, primarily for drillship settlements/idle rig costs and inventory adjustments and $38 million for net restructuring charges.
g. | Includes $1.1 billion associated with oil and gas operations and $70 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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