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Business Segments (Tables) | 6 Months Ended
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Jun. 30, 2018
Segment Reporting [Abstract] |
Revenue from External Customers by Products and Services | FCX’s revenues attributable to the products it sold for the second quarters and first six months of 2018 and 2017 follow (in millions):
| Three Months Ended |  | Six Months Ended
| June 30, |  | June 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
Copper: |  |  |  |  |  |  |
Concentrate | $ | 1,703 |  |  | $ | 1,241 |  |  | $ | 3,350 |  |  | $ | 2,222 |
Cathode | 1,465 |  |  | 954 |  |  | 2,888 |  |  | 1,995 |
Rod and other refined copper products | 668 |  |  | 590 |  |  | 1,338 |  |  | 1,214 |
Gold | 933 |  |  | 571 |  |  | 1,741 |  |  | 839 |
Molybdenum | 310 |  |  | 239 |  |  | 596 |  |  | 448 |
Other a | 400 |  |  | 281 |  |  | 798 |  |  | 512 |
Adjustments to revenue: |  |  |  |  |  |  |
Treatment charges | (139 | ) |  | (128 | ) |  | (271 | ) |  | (231 | )
Royalty expense b | (73 | ) |  | (44 | ) |  | (142 | ) |  | (66 | )
Export duties c | (55 | ) |  | (27 | ) |  | (101 | ) |  | (41 | )
Revenue from contracts with customers | 5,212 |  |  | 3,677 |  |  | 10,197 |  |  | 6,892 |
Embedded derivatives d | (44 | ) |  | 34 |  |  | (161 | ) |  | 160 |
Total consolidated revenues | $ | 5,168 |  |  | $ | 3,711 |  |  | $ | 10,036 |  |  | $ | 7,052 |
a. | Primarily includes revenues associated with cobalt, silver, oil, gas and natural gas liquids.
b. | Reflects royalties for sales from PT-FI and Cerro Verde that will vary with the volume of metal sold and the prices of copper and gold.
c. | Reflects PT-FI export duties.
d. | Refer to Note 6 for discussion of embedded derivatives related to FCX’s provisionally priced concentrate and cathode sales contracts.
Schedule of financial information by business segment | Financial Information by Business Segment
(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, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unaffiliated customers | $ | 25 |  |  | $ | 13 |  |  | $ | 38 |  |  | $ | 719 |  |  | $ | 171 |  |  | $ | 890 |  |  | $ | 1,639 |  | b | $ | — |  |  | $ | 1,387 |  |  | $ | 602 |  |  | $ | 612 |  | c | $ | 5,168 |  |
Intersegment | 568 |  |  | 641 |  |  | 1,209 |  |  | 100 |  |  | — |  |  | 100 |  |  | 1 |  |  | 111 |  |  | 8 |  |  | — |  |  | (1,429 | ) |  | — |  |
Production and delivery | 298 |  |  | 491 |  |  | 789 |  |  | 445 |  |  | 133 |  |  | 578 |  |  | 425 |  |  | 71 |  |  | 1,389 |  |  | 579 |  |  | (916 | ) |  | 2,915 |  |
Depreciation, depletion and amortization | 44 |  |  | 48 |  |  | 92 |  |  | 109 |  |  | 24 |  |  | 133 |  |  | 172 |  |  | 21 |  |  | 3 |  |  | 7 |  |  | 14 |  |  | 442 |  |
Selling, general and administrative expenses | 1 |  |  | — |  |  | 1 |  |  | 2 |  |  | — |  |  | 2 |  |  | 28 |  |  | — |  |  | — |  |  | 5 |  |  | 73 |  |  | 109 |  |
Mining exploration and research expenses | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 24 |  |  | 24 |  |
Environmental obligations and shutdown costs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 59 |  |  | 59 |  |
Net gain on sales of assets | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (45 | ) |  | (45 | ) |
Operating income (loss) | 250 |  |  | 115 |  |  | 365 |  |  | 263 |  |  | 14 |  |  | 277 |  |  | 1,015 |  |  | 19 |  |  | 3 |  |  | 11 |  |  | (26 | ) |  | 1,664 |  |
Interest expense, net | 1 |  |  | — |  |  | 1 |  |  | 16 |  |  | — |  |  | 16 |  |  | — |  |  | — |  |  | — |  |  | 6 |  |  | 119 |  |  | 142 |  |
Provision for (benefit from) income taxes | — |  |  | — |  |  | — |  |  | 102 |  |  | 6 |  |  | 108 |  |  | 429 |  |  | — |  |  | — |  |  | — |  |  | (22 | ) |  | 515 |  |
Total assets at June 30, 2018 | 2,819 |  |  | 4,374 |  |  | 7,193 |  |  | 8,630 |  |  | 1,715 |  |  | 10,345 |  |  | 10,911 |  |  | 1,820 |  |  | 278 |  |  | 931 |  |  | 5,550 |  | d | 37,028 |  |
Capital expenditures | 41 |  |  | 99 |  |  | 140 |  |  | 68 |  |  | 3 |  |  | 71 |  |  | 246 |  |  | 1 |  |  | 1 |  |  | 3 |  |  | 20 |  |  | 482 |  |
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 | 266 |  |  | 454 |  |  | 720 |  |  | 376 |  |  | 87 |  |  | 463 |  |  | 547 |  | e | 58 |  |  | 1,047 |  |  | 400 |  |  | (755 | ) |  | 2,480 |  | f
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 |  | e | — |  |  | — |  |  | 4 |  |  | 69 |  |  | 107 |  |
Mining exploration and research expenses | — |  |  | 1 |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 18 |  |  | 19 |  |
Environmental obligations and shutdown costs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (21 | ) |  | (21 | ) |
Net gain on sales of assets | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (10 | ) |  | (10 | ) |
Operating income (loss) | 207 |  |  | 101 |  |  | 308 |  |  | 141 |  |  | 3 |  |  | 144 |  |  | 335 |  |  | (6 | ) |  | 2 |  |  | (11 | ) |  | (86 | ) |  | 686 |  |
Interest expense, net | — |  |  | 1 |  |  | 1 |  |  | 15 |  |  | — |  |  | 15 |  |  | — |  |  | — |  |  | — |  |  | 4 |  |  | 142 |  |  | 162 |  |
Provision for (benefit from) income taxes | — |  |  | — |  |  | — |  |  | 56 |  |  | 2 |  |  | 58 |  |  | 135 |  |  | — |  |  | — |  |  | 2 |  |  | (9 | ) |  | 186 |  |
Total assets at June 30, 2017 | 2,830 |  |  | 4,314 |  |  | 7,144 |  |  | 8,828 |  |  | 1,479 |  |  | 10,307 |  |  | 10,769 |  |  | 1,900 |  |  | 253 |  |  | 739 |  |  | 5,931 |  | d | 37,043 |  |
Capital expenditures | 29 |  |  | 10 |  |  | 39 |  |  | 29 |  |  | 1 |  |  | 30 |  |  | 213 |  |  | 1 |  |  | 1 |  |  | 17 |  |  | 61 |  |  | 362 |  |
a. | Includes U.S. oil and gas operations, which were previously a reportable segment.
b. | Includes PT-FI's sales to PT Smelting totaling $649 million in second-quarter 2018 and $536 million in second-quarter 2017.
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 assets held for sale, primarily Freeport Cobalt, totaling $625 million at June 30, 2018, and $373 million at June 30, 2017.
e. | 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.
f. | Includes a $15 million decrease related to the adoption of the new guidance for the presentation of net periodic benefit cost for pension and other postretirement benefit plans (refer to Note 11 for further discussion).
(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, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unaffiliated customers | $ | 28 |  |  | $ | 28 |  |  | $ | 56 |  |  | $ | 1,344 |  |  | $ | 321 |  |  | $ | 1,665 |  |  | $ | 3,160 |  | b | $ | — |  |  | $ | 2,772 |  |  | $ | 1,179 |  |  | $ | 1,204 |  | c | $ | 10,036 |  |
Intersegment | 1,169 |  |  | 1,330 |  |  | 2,499 |  |  | 202 |  |  | — |  |  | 202 |  |  | 53 |  |  | 206 |  |  | 16 |  |  | 2 |  |  | (2,978 | ) |  | — |  |
Production and delivery | 588 |  |  | 992 |  |  | 1,580 |  |  | 872 |  |  | 249 |  |  | 1,121 |  |  | 882 |  |  | 138 |  |  | 2,777 |  |  | 1,135 |  |  | (1,910 | ) |  | 5,723 |  |
Depreciation, depletion and amortization | 90 |  |  | 96 |  |  | 186 |  |  | 214 |  |  | 46 |  |  | 260 |  |  | 353 |  |  | 40 |  |  | 5 |  |  | 14 |  |  | 35 |  |  | 893 |  |
Selling, general and administrative expenses | 2 |  |  | 2 |  |  | 4 |  |  | 4 |  |  | — |  |  | 4 |  |  | 67 |  |  | — |  |  | — |  |  | 11 |  |  | 154 |  |  | 240 |  |
Mining exploration and research expenses | — |  |  | 1 |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 44 |  |  | 45 |  |
Environmental obligations and shutdown costs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 68 |  |  | 68 |  |
Net gain on sales of assets | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (56 | ) |  | (56 | ) |
Operating income (loss) | 517 |  |  | 267 |  |  | 784 |  |  | 456 |  |  | 26 |  |  | 482 |  |  | 1,911 |  |  | 28 |  |  | 6 |  |  | 21 |  |  | (109 | ) |  | 3,123 |  |
Interest expense, net | 2 |  |  | — |  |  | 2 |  |  | 33 |  |  | — |  |  | 33 |  |  | — |  |  | — |  |  | — |  |  | 11 |  |  | 247 |  |  | 293 |  |
Provision for income taxes | — |  |  | — |  |  | — |  |  | 170 |  |  | 10 |  |  | 180 |  |  | 830 |  |  | — |  |  | — |  |  | 1 |  |  | 10 |  |  | 1,021 |  |
Capital expenditures | 88 |  |  | 144 |  |  | 232 |  |  | 131 |  |  | 7 |  |  | 138 |  |  | 449 |  |  | 2 |  |  | 2 |  |  | 7 |  |  | 54 |  |  | 884 |  |
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 | 523 |  |  | 863 |  |  | 1,386 |  |  | 767 |  |  | 169 |  |  | 936 |  |  | 817 |  | d | 110 |  |  | 2,156 |  |  | 836 |  |  | (1,573 | ) |  | 4,668 |  | e
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 |  | d | — |  |  | — |  |  | 9 |  |  | 182 |  |  | 258 |  |
Mining exploration and research expenses | — |  |  | 2 |  |  | 2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 31 |  |  | 33 |  |
Environmental obligations and shutdown costs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4 |  |  | 4 |  |
Net gain on sales of assets | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (33 | ) |  | (33 | ) |
Operating income (loss) | 385 |  |  | 234 |  |  | 619 |  |  | 392 |  |  | 12 |  |  | 404 |  |  | 486 |  |  | (14 | ) |  | 6 |  |  | (1 | ) |  | (217 | ) |  | 1,283 |  |
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 |  |  | 706 |  |
a. | Includes U.S. oil and gas operations, which were previously a reportable segment.
b. | Includes PT-FI’s sales to PT Smelting totaling $1.3 billion for the first six months of 2018 and $794 million for the first six months of 2017.
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 $103 million in production and delivery costs and $5 million in selling, general and administrative expenses.
e. | Includes a $27 million decrease related to the adoption of the new guidance for the presentation of net periodic benefit cost for pension and other postretirement benefit plans (refer to Note 11 for further discussion).

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- Definition Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9031-108599 + Details
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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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