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DEBT (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2019
Debt Disclosure [Abstract] |
Schedule of Debt Components | The components of debt follow:
| December 31,
| 2019 |  | 2018
Revolving credit facility | $ | — |  |  | $ | — |
Cerro Verde credit facility | 826 |  |  | 1,023 |
Senior notes and debentures: |  |  |
Issued by FCX: |  |  |
3.100% Senior Notes due 2020 | — |  |  | 999 |
4.00% Senior Notes due 2021 | 194 |  |  | 597 |
3.55% Senior Notes due 2022 | 1,876 |  |  | 1,886 |
6.875% Senior Notes due 2023 | — |  |  | 768 |
3.875% Senior Notes due 2023 | 1,917 |  |  | 1,915 |
4.55% Senior Notes due 2024 | 846 |  |  | 845 |
5.00% Senior Notes due 2027 | 592 |  |  | — |
5.25% Senior Notes due 2029 | 592 |  |  | — |
5.40% Senior Notes due 2034 | 741 |  |  | 741 |
5.450% Senior Notes due 2043 | 1,844 |  |  | 1,843 |
Issued by FMC: |  |  |
7 1/8% Debentures due 2027 | 115 |  |  | 115 |
9½% Senior Notes due 2031 | 125 |  |  | 126 |
6 1/8% Senior Notes due 2034 | 117 |  |  | 117 |
Other | 41 |  |  | 166 |
Total debt | 9,826 |  |  | 11,141 |
Less current portion of debt | (5 | ) |  | (17 | )
Long-term debt | $ | 9,821 |  |  | $ | 11,124 |
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 | During 2019, 2018 and 2017, FCX redeemed in full or purchased a portion of the following senior notes.
| Principal Amount |  | Net Adjustments |  | Book Value |  | Redemption/Tender Value |  | Loss/(Gain)
Year Ended December 31, 2019 |  |  |  |  |  |  |  |  |
FCX 3.100% Senior Notes due 2020 | $ | 1,000 |  |  | $ | (2 | ) |  | $ | 998 |  |  | $ | 1,003 |  |  | $ | 5 |
FCX 6.875% Senior Notes due 2023 | 728 |  |  | 34 |  |  | 762 |  |  | 768 |  |  | 6 |
FCX 4.00% Senior Notes due 2021 | 405 |  |  | (2 | ) |  | 403 |  |  | 418 |  |  | 15 |
FCX 3.55% Senior Notes due 2022 | 12 |  |  | — |  |  | 12 |  |  | 12 |  |  | — |
Total | $ | 2,145 |  |  | $ | 30 |  |  | $ | 2,175 |  |  | $ | 2,201 |  |  | $ | 26 |
Year Ended December 31, 2018 |  |  |  |  |  |  |  |  |
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 | )
Total | $ | 454 |  |  | $ | 26 |  |  | $ | 480 |  |  | $ | 470 |  |  | $ | (10 | )
Year Ended December 31, 2017 |  |  |  |  |  |  |  |  |
FCX 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 | )
Total | $ | 1,234 |  |  | $ | 49 |  |  | $ | 1,283 |  |  | $ | 1,257 |  |  | $ | (26 | )

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