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BUSINESS SEGMENTS INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2020
Segment Reporting [Abstract] |
Revenues by product | FCX’s revenues attributable to the products it sold for the years ended December 31 follow:
| 2020 |  | 2019 |  | 2018
Copper: |  |  |  |  |
Concentrate | $ | 4,294 |  |  | $ | 4,566 |  |  | $ | 6,180 |
Cathode | 4,204 |  |  | 3,656 |  |  | 4,366 |
Rod and other refined copper products | 2,052 |  |  | 2,110 |  |  | 2,396 |
Purchased copper a | 821 |  |  | 1,060 |  |  | 1,053 |
Gold | 1,702 |  |  | 1,620 |  |  | 3,231 |
Molybdenum | 848 |  |  | 1,169 |  |  | 1,190 |
Other b | 592 |  |  | 905 |  |  | 1,490 |
Adjustments to revenues: |  |  |  |  |
Treatment charges | (362) |  |  | (404) |  |  | (535) |
Royalty expense c | (165) |  |  | (113) |  |  | (246) |
Export duties d | (92) |  |  | (221) |  |  | (180) |
Revenues from contracts with customers | 13,894 |  |  | 14,348 |  |  | 18,945 |
Embedded derivatives e | 304 |  |  | 54 |  |  | (317) |
Total consolidated revenues | $ | 14,198 |  |  | $ | 14,402 |  |  | $ | 18,628 |
a.FCX purchases copper cathode primarily for processing by its Rod & Refining operations. b.Primarily includes revenues associated with cobalt and silver. c.Reflects royalties on sales from PT-FI and Cerro Verde that will vary with the volume of metal sold and prices. d.Reflects PT-FI export duties. The year 2019 includes charges totaling $155 million primarily associated with an unfavorable Indonesia Supreme Court ruling related to certain disputed export duties (refer to Note 12). e.Refer to Note 14 for discussion of embedded derivatives related to FCX’s provisionally priced concentrate and cathode sales contracts.
Long-lived assets by geographic area | Information concerning financial data by geographic area follows:
| December 31,
| 2020 |  | 2019
Long-lived assets:a |  |  |
Indonesia | $ | 15,567 |  |  | $ | 14,971 |
U.S. | 8,420 |  |  | 8,834 |
Peru | 6,989 |  |  | 7,215 |
Chile | 1,172 |  |  | 1,084 |
Other | 290 |  |  | 384 |
Total | $ | 32,438 |  |  | $ | 32,488 |
a.Excludes deferred tax assets and intangible assets
Revenues by geographic area of customer |
| Years Ended December 31,
| 2020 |  | 2019 |  | 2018
Revenues:a |  |  |  |  |
U.S. | $ | 5,248 |  |  | $ | 5,107 |  |  | $ | 5,790 |
Switzerland | 2,032 |  |  | 2,223 |  |  | 2,941 |
Indonesia | 1,760 |  |  | 1,894 |  |  | 2,226 |
Japan | 1,205 |  |  | 1,181 |  |  | 1,946 |
Spain | 785 |  |  | 884 |  |  | 1,070 |
China | 692 |  |  | 531 |  |  | 873 |
United Kingdom | 491 |  |  | 233 |  |  | 296 |
Germany | 248 |  |  | 311 |  |  | 256 |
Chile | 221 |  |  | 242 |  |  | 294 |
France | 153 |  |  | 198 |  |  | 255 |
India | 152 |  |  | 107 |  |  | 389 |
Korea | 89 |  |  | 140 |  |  | 269 |
Belgium | 36 |  |  | 160 |  |  | 278 |
Philippines | 34 |  |  | 73 |  |  | 221 |
Bermuda | — |  |  | 38 |  |  | 207 |
Other | 1,052 |  |  | 1,080 |  |  | 1,317 |
Total | $ | 14,198 |  |  | $ | 14,402 |  |  | $ | 18,628 |
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 Mining |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Atlantic |  |  |  |  |  |  |  | Corporate, |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Copper |  |  |  |  |  |  |  | Other |  |  |
|  |  |  |  |  |  |  |  | Cerro |  |  |  |  |  | Indonesia |  |  |  | Molybdenum |  | Rod & |  | Smelting |  |  |  |  |  |  |  | & Elimi- |  | FCX |
| Morenci |  |  |  | Other |  | Total |  | Verde |  | Other |  | Total |  | Mining |  |  |  | Mines |  | Refining |  | & Refining |  |  |  |  |  |  |  | nations |  | Total |
Year Ended December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unaffiliated customers | $ | 29 |  |  |  |  | $ | 48 |  |  | $ | 77 |  |  | $ | 2,282 |  |  | $ | 431 |  |  | $ | 2,713 |  |  | $ | 3,534 |  |  |  |  | $ | — |  |  | $ | 4,781 |  |  | $ | 2,020 |  |  |  |  |  |  |  |  | $ | 1,073 |  | a | $ | 14,198 |  |
Intersegment | 2,015 |  |  |  |  | 2,272 |  |  | 4,287 |  |  | 242 |  |  | — |  |  | 242 |  |  | 80 |  |  |  |  | 222 |  |  | 33 |  |  | 17 |  |  |  |  |  |  |  |  | (4,881) |  |  | — |  |
Production and delivery | 1,269 |  |  |  |  | 1,831 |  |  | 3,100 |  |  | 1,599 |  |  | 379 |  |  | 1,978 |  |  | 1,606 |  |  |  |  | 230 |  |  | 4,819 |  |  | 1,962 |  |  |  |  |  |  |  |  | (3,664) |  |  | 10,031 |  |
Depreciation, depletion and amortization | 166 |  |  |  |  | 189 |  |  | 355 |  |  | 367 |  |  | 54 |  |  | 421 |  |  | 580 |  |  |  |  | 57 |  |  | 16 |  |  | 29 |  |  |  |  |  |  |  |  | 70 |  |  | 1,528 |  |
Metals inventory adjustments | 4 |  |  |  |  | 48 |  |  | 52 |  |  | — |  |  | 3 |  |  | 3 |  |  | — |  |  |  |  | 10 |  |  | 3 |  |  | — |  |  |  |  |  |  |  |  | 28 |  |  | 96 |  |
Selling, general and administrative expenses | 2 |  |  |  |  | 2 |  |  | 4 |  |  | 6 |  |  | — |  |  | 6 |  |  | 108 |  |  |  |  | — |  |  | — |  |  | 21 |  |  |  |  |  |  |  |  | 231 |  |  | 370 |  |
Mining exploration and research expenses | — |  |  |  |  | 2 |  |  | 2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  | 48 |  |  | 50 |  |
Environmental obligations and shutdown costs | — |  |  |  |  | (1) |  |  | (1) |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | — |  |  | 1 |  |  | — |  |  |  |  |  |  |  |  | 159 |  | b | 159 |  |
Net gain on sales of assets | — |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  | (473) |  | c | (473) |  |
Operating income (loss) | 603 |  |  |  |  | 249 |  |  | 852 |  |  | 552 |  | d | (5) |  |  | 547 |  |  | 1,320 |  |  |  |  | (75) |  |  | (25) |  | d | 25 |  |  |  |  |  |  |  |  | (207) |  | d | 2,437 |  | d
Interest expense, net | 2 |  |  |  |  | — |  |  | 2 |  |  | 139 |  |  | — |  |  | 139 |  |  | 39 |  | e |  |  | — |  |  | — |  |  | 6 |  |  |  |  |  |  |  |  | 412 |  |  | 598 |  |
Provision for income taxes | — |  |  |  |  | — |  |  | — |  |  | 238 |  |  | 1 |  |  | 239 |  |  | 606 |  |  |  |  | — |  |  | — |  |  | 2 |  |  |  |  |  |  |  |  | 97 |  | f | 944 |  |
Total assets at December 31, 2020 | 2,574 |  |  |  |  | 5,163 |  |  | 7,737 |  |  | 8,474 |  |  | 1,678 |  |  | 10,152 |  |  | 17,169 |  |  |  |  | 1,760 |  |  | 211 |  |  | 877 |  |  |  |  |  |  |  |  | 4,238 |  |  | 42,144 |  |
Capital expenditures | 102 |  |  |  |  | 326 |  |  | 428 |  |  | 141 |  |  | 42 |  |  | 183 |  |  | 1,266 |  |  |  |  | 19 |  |  | 6 |  |  | 29 |  |  |  |  |  |  |  |  | 30 |  |  | 1,961 |  |
a.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. b.Includes charges totaling $130 million associated with a framework for the resolution of all current and future potential talc-related litigation. c.Includes a $486 million gain associated with the sale of FCX’s interests in the Kisanfu undeveloped project. Refer to Note 2 for further discussion. d.Includes charges totaling $258 million associated with (i) idle facility costs (Cerro Verde), contract cancellation and other charges directly related to the COVID-19 pandemic and (ii) the April 2020 revised operating plans (including employee separation costs). These charges were primarily recorded in the Cerro Verde segment ($89 million), Corporate, Other & Eliminations ($57 million) and the Rod & Refining segment ($30 million). e.Includes charges totaling $35 million associated with PT-FI's historical contested tax audits. f.Includes tax charges totaling $135 million associated with the sale of the Kisanfu undeveloped project, partly offset by tax credits of $53 million associated with the reversal of a year-end 2019 tax charge related to the sale of FCX’s interest in the lower zone of the Timok exploration project in Serbia.

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