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BUSINESS SEGMENTS INFORMATION (Tables)

12 Months Ended

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 coppera			821						1,060						1,053
Gold			1,702						1,620						3,231
Molybdenum			848						1,169						1,190
Otherb			592						905						1,490
Adjustments to revenues:
Treatment charges			(362)						(404)						(535)
Royalty expensec			(165)						(113)						(246)
Export dutiesd			(92)						(221)						(180)
Revenues from contracts with customers			13,894						14,348						18,945
Embedded derivativese			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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