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DEBT (Tables) | 12 Months Ended
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Dec. 31, 2018
Debt Disclosure [Abstract] |
Schedule of Debt Components | The components of debt follow:
| December 31,
| 2018 |  | 2017
Revolving credit facility | $ | — |  |  | $ | — |
Cerro Verde credit facility | 1,023 |  |  | 1,269 |
Senior notes and debentures: |  |  |
Issued by FCX: |  |  |
2.375% Senior Notes due 2018 | — |  |  | 1,408 |
3.100% Senior Notes due 2020 | 999 |  |  | 997 |
4.00% Senior Notes due 2021 | 597 |  |  | 596 |
6.75% Senior Notes due 2022 | — |  |  | 427 |
3.55% Senior Notes due 2022 | 1,886 |  |  | 1,884 |
6 7/8% Senior Notes due 2023 | 768 |  |  | 776 |
3.875% Senior Notes due 2023 | 1,915 |  |  | 1,914 |
4.55% Senior Notes due 2024 | 845 |  |  | 845 |
5.40% Senior Notes due 2034 | 741 |  |  | 740 |
5.450% Senior Notes due 2043 | 1,843 |  |  | 1,842 |
Issued by FMC: |  |  |
7 1/8% Debentures due 2027 | 115 |  |  | 115 |
9½% Senior Notes due 2031 | 126 |  |  | 127 |
6 1/8% Senior Notes due 2034 | 117 |  |  | 116 |
Issued by Freeport-McMoRan Oil & Gas LLC (FM O&G LLC): |  |  |
6 7/8% Senior Notes due 2023 | — |  |  | 54 |
Other | 166 |  |  | 119 |
Total debt | 11,141 |  |  | 13,229 |
Less current portion of debt | (17 | ) |  | (1,414 | )
Long-term debt | $ | 11,124 |  |  | $ | 11,815 |
Schedule of Long-term Debt Instruments [Table Text Block] | A summary of the tenders follows:
| Principal Amount Outstanding |  | Principal Amount Tendered |  | Book Value of New FCX Senior Notes
6.125% Senior Notes due 2019 | $ | 237 |  |  | $ | 179 |  |  | $ | 186 |
6½% Senior Notes due 2020 | 617 |  |  | 552 |  |  | 583 |
6.625% Senior Notes due 2021 | 261 |  |  | 228 |  |  | 242 |
6.75% Senior Notes due 2022 | 449 |  |  | 404 |  |  | 432 |
6 7/8% Senior Notes due 2023 | 778 |  |  | 728 |  |  | 785 |
| $ | 2,342 |  |  | $ | 2,091 |  |  | $ | 2,228 |
Debt Instrument Redemption [Table Text Block] | The senior notes listed below are redeemable in whole or in part, at the option of FCX, at a make-whole redemption price prior to the dates stated below, and beginning on the dates stated below at 100 percent of principal.
Debt Instrument |  | Date
3.55% Senior Notes due 2022 |  | December 1, 2021
3.875% Senior Notes due 2023 |  | December 15, 2022
4.55% Senior Notes due 2024 |  | August 14, 2024
5.40% Senior Notes due 2034 |  | May 14, 2034
5.450% Senior Notes due 2043 |  | September 15, 2042
Schedule of Extinguishment of Debt | A summary of these transactions follows:
| Principal Amount |  | Net Adjustments |  | Book Value |  | Redemption Value |  | Gain
2.30% Senior Notes due 2017 | $ | 20 |  |  | $ | — |  |  | $ | 20 |  |  | $ | 20 |  |  | $ | — |
2.375% Senior Notes due 2018 | 18 |  |  | — |  |  | 18 |  |  | 18 |  |  | — |
3.55% Senior Notes due 2022 | 108 |  |  | (1 | ) |  | 107 |  |  | 96 |  |  | 11 |
3.875% Senior Notes due 2023 | 77 |  |  | — |  |  | 77 |  |  | 68 |  |  | 9 |
5.40% Senior Notes due 2034 | 50 |  |  | (1 | ) |  | 49 |  |  | 41 |  |  | 8 |
5.450% Senior Notes due 2043 | 134 |  |  | (2 | ) |  | 132 |  |  | 106 |  |  | 26 |
| $ | 407 |  |  | $ | (4 | ) |  | $ | 403 |  |  | $ | 349 |  |  | $ | 54 |
A summary of these redemptions follows:
| Principal Amount |  | Net Adjustments |  | Book Value |  | Redemption Value |  | Gain
FCX 6.75% Senior Notes due 2022 | $ | 404 |  |  | $ | 22 |  |  | $ | 426 |  |  | $ | 418 |  |  | $ | 8 |
FM O&G LLC 6 7/8% Senior Notes due 2023 | 50 |  |  | 4 |  |  | 54 |  |  | 52 |  |  | 2 |
| $ | 454 |  |  | $ | 26 |  |  | $ | 480 |  |  | $ | 470 |  |  | $ | 10 |
A summary of these debt extinguishments follows:
| Principal Amount |  | Net Adjustments |  | Book Value |  | Redemption Value |  | Gain
2.375% Senior Notes due 2018 | $ | 74 |  |  | $ | — |  |  | $ | 74 |  |  | $ | 74 |  |  | $ | — |
FCX 6.125% Senior Notes due 2019 | 179 |  |  | 5 |  |  | 184 |  |  | 182 |  |  | 2 |
FM O&G LLC 6.125% Senior Notes due 2019 | 58 |  |  | 2 |  |  | 60 |  |  | 59 |  |  | 1 |
FCX 6½% Senior Notes due 2020 | 552 |  |  | 23 |  |  | 575 |  |  | 562 |  |  | 13 |
FM O&G LLC 6½% Senior Notes due 2020 | 65 |  |  | 3 |  |  | 68 |  |  | 66 |  |  | 2 |
FCX 6.625% Senior Notes due 2021 | 228 |  |  | 12 |  |  | 240 |  |  | 234 |  |  | 6 |
FM O&G LLC 6.625% Senior Notes due 2021 | 33 |  |  | 2 |  |  | 35 |  |  | 34 |  |  | 1 |
FM O&G LLC 6.750% Senior Notes due 2022 | 45 |  |  | 2 |  |  | 47 |  |  | 46 |  |  | 1 |
| $ | 1,234 |  |  | $ | 49 |  |  | $ | 1,283 |  |  | $ | 1,257 |  |  | $ | 26 |

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