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BUSINESS SEGMENTS INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2017
Segment Reporting [Abstract] |
Revenues by product | FCX revenues attributable to the products it produced for the years ended December 31 follow:
| 2017 |  | 2016 |  | 2015
Copper in concentrate a | $ | 5,373 |  |  | $ | 4,502 |  |  | $ | 2,927 |
Copper cathode | 4,557 |  |  | 3,925 |  |  | 4,159 |
Rod, and other refined copper products | 2,272 |  |  | 1,963 |  |  | 2,481 |
Gold | 2,032 |  |  | 1,512 |  |  | 1,540 |
Molybdenum | 889 |  |  | 651 |  |  | 783 |
Oil | 73 |  |  | 1,304 |  |  | 1,694 |
Other | 1,207 |  |  | 973 |  |  | 1,023 |
Total | $ | 16,403 |  |  | $ | 14,830 |  |  | $ | 14,607 |
a. | Amounts are net of treatment and refining charges totaling $536 million in 2017, $652 million in 2016 and $485 million in 2015.
Long-lived assets by geographic area | Information concerning financial data by geographic area follows:
| December 31, |
| 2017 |  | 2016 |  | 2015 |
Long-lived assets:a |  |  |  |  |  |
Indonesia | $ | 8,938 |  |  | $ | 8,794 |  |  | $ | 7,701 |  |
U.S. | 8,312 |  |  | 8,282 |  | b | 16,569 |  |
Peru | 7,485 |  |  | 7,981 |  |  | 8,432 |  |
Chile | 1,221 |  |  | 1,269 |  |  | 1,387 |  |
Other | 257 |  |  | 248 |  |  | 4,706 |  | c
Total | $ | 26,213 |  |  | $ | 26,574 |  |  | $ | 38,795 |  |
a. | Long-lived assets exclude deferred tax assets and intangible assets.
b. | Decrease in 2016 is primarily because of impairment charges related to oil and gas properties and asset dispositions (refer to Notes 1 and 2 for further discussion).
c. | Includes long-lived assets held for sale totaling $4.4 billion at December 31, 2015, primarily associated with TFHL discontinued operations. Refer to Note 2 for further discussion.
Revenues by geographic area of customer |
| Years Ended December 31,
| 2017 |  | 2016 |  | 2015
Revenues:a |  |  |  |  |
U.S. | $ | 5,344 |  |  | $ | 5,896 |  |  | $ | 6,842 |
Indonesia | 2,023 |  |  | 1,402 |  |  | 1,054 |
Japan | 1,882 |  |  | 1,350 |  |  | 1,246 |
Switzerland | 1,200 |  |  | 1,147 |  |  | 618 |
China | 1,136 |  |  | 1,125 |  |  | 688 |
Spain | 1,086 |  |  | 878 |  |  | 960 |
India | 782 |  |  | 553 |  |  | 532 |
Philippines | 378 |  |  | 261 |  |  | 169 |
Korea | 364 |  |  | 219 |  |  | 177 |
Chile | 248 |  |  | 250 |  |  | 397 |
Bermuda | 226 |  |  | 273 |  |  | 159 |
United Kingdom | 226 |  |  | 204 |  |  | 83 |
Other | 1,508 |  |  | 1,272 |  |  | 1,682 |
Total | $ | 16,403 |  |  | $ | 14,830 |  |  | $ | 14,607 |
a. | Revenues are attributed to countries based on the location of the customer.
Schedule of financial information by business segment | Financial Information by Business Segment
| North America Copper Mines |  | South America |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Atlantic |  | Corporate, |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Copper |  | Other |  |  |
|  |  |  |  |  |  | Cerro |  |  |  |  |  | Indonesia |  | Molybdenum |  | Rod & |  | Smelting |  | & Elimi- |  | FCX |
| Morenci |  | Other |  | Total |  | Verde |  | Other |  | Total |  | Mining |  | Mines |  | Refining |  | & Refining |  | nations a |  | Total |
Year Ended December 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unaffiliated customers | $ | 228 |  |  | $ | 180 |  |  | $ | 408 |  |  | $ | 2,811 |  |  | $ | 498 |  |  | $ | 3,309 |  |  | $ | 4,445 |  |  | $ | — |  |  | $ | 4,456 |  |  | $ | 2,031 |  |  | $ | 1,754 |  | b | $ | 16,403 |  |
Intersegment | 1,865 |  |  | 2,292 |  |  | 4,157 |  |  | 385 |  |  | — |  |  | 385 |  |  | — |  |  | 268 |  |  | 26 |  |  | 1 |  |  | (4,837 | ) |  | — |  |
Production and delivery | 1,052 |  |  | 1,715 |  |  | 2,767 |  |  | 1,878 |  | c | 366 |  |  | 2,244 |  |  | 1,743 |  | d | 229 |  |  | 4,470 |  |  | 1,966 |  |  | (3,119 | ) |  | 10,300 |  |
Depreciation, depletion and amortization | 178 |  |  | 247 |  |  | 425 |  |  | 441 |  |  | 84 |  |  | 525 |  |  | 556 |  |  | 76 |  |  | 10 |  |  | 28 |  |  | 94 |  |  | 1,714 |  |
Metals inventory adjustments | — |  |  | 2 |  |  | 2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | — |  |  | 5 |  |  | 8 |  |
Selling, general and administrative expenses | 2 |  |  | 2 |  |  | 4 |  |  | 9 |  |  | — |  |  | 9 |  |  | 126 |  | d | — |  |  | — |  |  | 18 |  |  | 327 |  |  | 484 |  |
Mining exploration and research expenses | — |  |  | 2 |  |  | 2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 92 |  |  | 94 |  |
Environmental obligations and shutdown costs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 251 |  |  | 251 |  |
Net gain on sales of assets | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (81 | ) |  | (81 | ) |
Operating income (loss) | 861 |  |  | 504 |  |  | 1,365 |  |  | 868 |  |  | 48 |  |  | 916 |  |  | 2,020 |  |  | (38 | ) |  | 2 |  |  | 20 |  |  | (652 | ) |  | 3,633 |  |
Interest expense, net | 3 |  |  | 1 |  |  | 4 |  |  | 212 |  | c | — |  |  | 212 |  |  | 4 |  |  | — |  |  | — |  |  | 18 |  |  | 563 |  |  | 801 |  |
Provision for (benefit from) income taxes | — |  |  | — |  |  | — |  |  | 436 |  | c | 10 |  |  | 446 |  |  | 869 |  |  | — |  |  | — |  |  | 5 |  |  | (437 | ) | e | 883 |  |
Total assets at December 31, 2017 | 2,861 |  |  | 4,241 |  |  | 7,102 |  |  | 8,878 |  |  | 1,702 |  |  | 10,580 |  |  | 10,911 |  |  | 1,858 |  |  | 277 |  |  | 822 |  |  | 5,752 |  | f | 37,302 |  |
Capital expenditures | 114 |  |  | 53 |  |  | 167 |  |  | 103 |  |  | 12 |  |  | 115 |  |  | 875 |  |  | 5 |  |  | 4 |  |  | 41 |  |  | 203 |  |  | 1,410 |  |
Year Ended December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unaffiliated customers | $ | 444 |  |  | $ | 240 |  |  | $ | 684 |  |  | $ | 2,241 |  |  | $ | 510 |  |  | $ | 2,751 |  |  | $ | 3,233 |  |  | $ | — |  |  | $ | 3,833 |  |  | $ | 1,825 |  |  | $ | 2,504 |  | b,g | $ | 14,830 |  |
Intersegment | 1,511 |  |  | 2,179 |  |  | 3,690 |  |  | 187 |  |  | — |  |  | 187 |  |  | 62 |  |  | 186 |  |  | 29 |  |  | 5 |  |  | (4,159 | ) |  | — |  |
Production and delivery | 1,169 |  |  | 1,763 |  |  | 2,932 |  |  | 1,351 |  |  | 407 |  |  | 1,758 |  |  | 1,794 |  |  | 199 |  |  | 3,836 |  |  | 1,712 |  |  | (1,534 | ) | h | 10,697 |  |
Depreciation, depletion and amortization | 217 |  |  | 313 |  |  | 530 |  |  | 443 |  |  | 110 |  |  | 553 |  |  | 384 |  |  | 68 |  |  | 10 |  |  | 29 |  |  | 956 |  |  | 2,530 |  |
Impairment of oil and gas properties | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4,317 |  |  | 4,317 |  |
Metals inventory adjustments | — |  |  | 1 |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 15 |  |  | — |  |  | — |  |  | 20 |  |  | 36 |  |
Selling, general and administrative expenses | 2 |  |  | 3 |  |  | 5 |  |  | 8 |  |  | 1 |  |  | 9 |  |  | 90 |  |  | — |  |  | — |  |  | 17 |  |  | 486 |  | h | 607 |  |
Mining exploration and research expenses | — |  |  | 3 |  |  | 3 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 61 |  |  | 64 |  |
Environmental obligations and shutdown costs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 20 |  |  | 20 |  |
Net gain on sales of assets | (576 | ) |  | — |  |  | (576 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (73 | ) |  | (649 | ) |
Operating income (loss) | 1,143 |  |  | 336 |  |  | 1,479 |  |  | 626 |  |  | (8 | ) |  | 618 |  |  | 1,027 |  |  | (96 | ) |  | 16 |  |  | 72 |  |  | (5,908 | ) |  | (2,792 | ) |
Interest expense, net | 3 |  |  | 1 |  |  | 4 |  |  | 82 |  |  | — |  |  | 82 |  |  | — |  |  | — |  |  | — |  |  | 15 |  |  | 654 |  |  | 755 |  |
Provision for (benefit from) income taxes | — |  |  | — |  |  | — |  |  | 222 |  |  | (6 | ) |  | 216 |  |  | 442 |  |  | — |  |  | — |  |  | 9 |  |  | (296 | ) |  | 371 |  |
Total assets at December 31, 2016 | 2,863 |  |  | 4,448 |  |  | 7,311 |  |  | 9,076 |  |  | 1,533 |  |  | 10,609 |  |  | 10,493 |  |  | 1,934 |  |  | 220 |  |  | 658 |  |  | 6,092 |  | f | 37,317 |  |
Capital expenditures | 77 |  |  | 25 |  |  | 102 |  |  | 380 |  |  | 2 |  |  | 382 |  |  | 1,025 |  |  | 2 |  |  | 1 |  |  | 17 |  |  | 1,284 |  | i | 2,813 |  |
a. | Includes U.S. oil and gas operations, which were previously a reportable segment.
b. | 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.
c. | Includes net charges of $203 million in production and delivery costs, $145 million in interest expense and $7 million in provision for income taxes associated with disputed royalties for prior years.
d. | Includes net charges of $120 million in production and delivery costs and $5 million in selling, general and administrative expenses for PT-FI workforce reductions.
e. | Includes provisional tax credits totaling $393 million related to U.S. tax reform, primarily for the reversal of valuation allowances associated with the anticipated refund of AMT credits and a decrease in corporate income tax rates.
f. | Includes (i) assets held for sale totaling $598 million at December 31, 2017, and $344 million at December 31, 2016, primarily associated with Freeport Cobalt and the Kisanfu exploration project and (ii) includes assets associated with oil and gas operations totaling $271 million at December 31, 2017, and $467 million at December 31, 2016.
g. | Includes net mark-to-market losses of $35 million associated with oil derivative contracts, which were entered into as part of the terms to sell the onshore California oil and gas properties in 2016.
h. | Includes net charges for oil and gas operations totaling $1.0 billion in production and delivery costs, primarily for drillship settlements/idle rig and contract termination costs, inventory adjustments, asset impairments and other net charges, and $85 million in selling, general and administrative expenses for net restructuring charges.
i. | Includes $1.2 billion associated with oil and gas operations and $73 million associated with discontinued operations. Refer to Note 2 for a summary of the results of discontinued operations.
| North America Copper Mines |  | South America |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Atlantic |  | Corporate, |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Copper |  | Other |  |  |
|  |  |  |  |  |  | Cerro |  |  |  |  |  | Indonesia |  | Molybdenum |  | Rod & |  | Smelting |  | & Elimi- |  | FCX |
| Morenci |  | Other |  | Total |  | Verde |  | Other |  | Total |  | Mining |  | Mines |  | Refining |  | & Refining |  | nations a |  | Total |
Year Ended December 31, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unaffiliated customers | $ | 558 |  |  | $ | 351 |  |  | $ | 909 |  |  | $ | 1,065 |  |  | $ | 808 |  |  | $ | 1,873 |  |  | $ | 2,617 |  |  | $ | — |  |  | $ | 4,125 |  |  | $ | 1,955 |  |  | $ | 3,128 |  | b,c | $ | 14,607 |  |
Intersegment | 1,646 |  |  | 2,571 |  |  | 4,217 |  |  | 68 |  |  | (7 | ) | d | 61 |  |  | 36 |  |  | 348 |  |  | 29 |  |  | 15 |  |  | (4,706 | ) |  | — |  |
Production and delivery e | 1,523 |  |  | 2,276 |  |  | 3,799 |  |  | 815 |  |  | 623 |  |  | 1,438 |  |  | 1,808 |  |  | 312 |  |  | 4,129 |  |  | 1,848 |  |  | (2,641 | ) | f | 10,693 |  |
Depreciation, depletion and amortization | 217 |  |  | 343 |  |  | 560 |  |  | 219 |  |  | 133 |  |  | 352 |  |  | 293 |  |  | 97 |  |  | 9 |  |  | 39 |  |  | 1,890 |  |  | 3,240 |  |
Impairment of oil and gas properties | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 13,144 |  |  | 13,144 |  |
Metals inventory adjustments | — |  |  | 142 |  |  | 142 |  |  | — |  |  | 73 |  |  | 73 |  |  | — |  |  | 11 |  |  | — |  |  | — |  |  | 112 |  |  | 338 |  |
Selling, general and administrative expenses | 3 |  |  | 3 |  |  | 6 |  |  | 3 |  |  | 1 |  |  | 4 |  |  | 103 |  |  | — |  |  | — |  |  | 16 |  |  | 429 |  |  | 558 |  |
Mining exploration and research expenses | — |  |  | 7 |  |  | 7 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 100 |  |  | 107 |  |
Environmental obligations and shutdown costs | — |  |  | 3 |  |  | 3 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 75 |  |  | 78 |  |
Net gain on sales of assets | — |  |  | (39 | ) |  | (39 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (39 | ) |
Operating income (loss) | 461 |  |  | 187 |  |  | 648 |  |  | 96 |  |  | (29 | ) |  | 67 |  |  | 449 |  |  | (72 | ) |  | 16 |  |  | 67 |  |  | (14,687 | ) |  | (13,512 | ) |
Interest expense, net | 2 |  |  | 2 |  |  | 4 |  |  | 16 |  |  | — |  |  | 16 |  |  | — |  |  | — |  |  | — |  |  | 10 |  |  | 587 |  |  | 617 |  |
Provision for (benefit from) income taxes | — |  |  | — |  |  | — |  |  | 13 |  |  | (9 | ) |  | 4 |  |  | 195 |  |  | — |  |  | — |  |  | 4 |  |  | (2,154 | ) |  | (1,951 | ) |
Total assets at December 31, 2015 | 3,567 |  |  | 4,878 |  |  | 8,445 |  |  | 9,445 |  |  | 1,661 |  |  | 11,106 |  |  | 9,306 |  |  | 1,999 |  |  | 219 |  |  | 612 |  |  | 14,890 |  | g | 46,577 |  |
Capital expenditures | 253 |  |  | 102 |  |  | 355 |  |  | 1,674 |  |  | 48 |  |  | 1,722 |  |  | 901 |  |  | 13 |  |  | 4 |  |  | 23 |  |  | 3,335 |  | g | 6,353 |  |
a. | Includes U.S. oil and gas operations, which were previously a reportable segment.
b. | Includes revenues from FCX’s molybdenum sales company, which included sales of molybdenum produced by the Molybdenum mines and by certain of the North America and South America copper mines.
c. | Includes net mark-to-market gains associated with crude oil and natural gas derivative contracts totaling $87 million.
d. | Reflects net reductions for provisional pricing adjustments to prior open sales.
e. | Includes asset impairment and restructuring charges totaling $145 million, including $99 million at other North America copper mines, and restructuring charges totaling $13 million at South America mines, $7 million at Molybdenum mines, $3 million at Rod & Refining and $23 million at Corporate, Other & Eliminations.
f. | Includes charges for oil and gas operations totaling $188 million primarily for idle/terminated rig costs, inventory adjustments, asset impairments and other charges.
g. | Includes (i) assets held for sale totaling $4.9 billion and (ii) capital expenditures totaling $229 million associated with discontinued operations. Refer to Note 2 for a summary of the results of discontinued operations.

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