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v3.21.2

Debt and Equity (Details) |  | 1 Months Ended | 3 Months Ended | 4 Months Ended | 9 Months Ended | 12 Months Ended | 34 Months Ended | 38 Months Ended |  |  |
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Sep. 22, 2021 $ / shares | Jul. 31, 2021 USD ($) | Sep. 30, 2021 USD ($) $ / shares | Sep. 30, 2020 USD ($) $ / shares | Jun. 30, 2021 | Sep. 30, 2021 USD ($) $ / shares | Sep. 30, 2020 USD ($) $ / shares | Dec. 31, 2021 USD ($) | Apr. 30, 2024 | Apr. 30, 2024 | Nov. 01, 2021 USD ($) | Feb. 28, 2021 USD ($) | Dec. 31, 2020 USD ($)
Total Debt [Abstract] |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term Debt and Lease Obligation, Including Current Maturities |  |  | $ 9,665,000,000 |  |  | $ 9,665,000,000 |  |  |  |  |  |  | $ 9,711,000,000
Current portion of debt |  |  | (897,000,000) |  |  | (897,000,000) |  |  |  |  |  |  | (34,000,000)
Long-term debt, less current portion |  |  | 8,768,000,000 |  |  | 8,768,000,000 |  |  |  |  |  |  | 9,677,000,000
Debt Instrument, Covenant Compliance, Leverage Ratio |  |  |  |  | 5.25 |  |  |  |  |  |  |  |
Interest costs |  |  | 157,000,000 | $ 160,000,000 |  | 482,000,000 | $ 490,000,000 |  |  |  |  |  |
Net loss on early extinguishment of debt |  |  | $ 0 | $ (59,000,000) |  | $ 0 | $ (100,000,000) |  |  |  |  |  |
Dividends declared per share of common stock (in dollars per share) | $ / shares | $ 0.075 |  | $ 0.075 | $ 0 |  | $ 0.225 | $ 0 |  |  |  |  |  |
Repayments of Debt |  |  |  |  |  | $ 672,000,000 | $ 3,105,000,000 |  |  |  |  |  |
Subsequent event |  |  |  |  |  |  |  |  |  |  |  |  |
Total Debt [Abstract] |  |  |  |  |  |  |  |  |  |  |  |  |
Stock Repurchase Program, Authorized Amount |  |  |  |  |  |  |  |  |  |  | $ 3,000,000,000 |  |
Minimum |  |  |  |  |  |  |  |  |  |  |  |  |
Total Debt [Abstract] |  |  |  |  |  |  |  |  |  |  |  |  |
Payout Policy, Targeted Debt |  |  |  |  |  |  |  |  |  |  |  | $ 3,000,000,000 |
Maximum |  |  |  |  |  |  |  |  |  |  |  |  |
Total Debt [Abstract] |  |  |  |  |  |  |  |  |  |  |  |  |
Payout Policy, Targeted Debt |  |  |  |  |  |  |  |  |  |  |  | $ 4,000,000,000 |
Cerro Verde [Member] |  |  |  |  |  |  |  |  |  |  |  |  |
Total Debt [Abstract] |  |  |  |  |  |  |  |  |  |  |  |  |
Repayments of Debt |  |  |  |  |  | 200,000,000 |  |  |  |  |  |  |
Property, Plant and Equipment [Member] |  |  |  |  |  |  |  |  |  |  |  |  |
Total Debt [Abstract] |  |  |  |  |  |  |  |  |  |  |  |  |
Interest costs capitalized |  |  | $ 19,000,000 | $ 40,000,000 |  | 51,000,000 | 128,000,000 |  |  |  |  |  |
Line of Credit [Member] | PT-FI Term Loan |  |  |  |  |  |  |  |  |  |  |  |  |
Total Debt [Abstract] |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term Debt and Lease Obligation, Including Current Maturities |  | $ 667,000,000 |  |  |  |  |  |  |  |  |  |  |
Line of Credit [Member] | Cerro Verde [Member] |  |  |  |  |  |  |  |  |  |  |  |  |
Total Debt [Abstract] |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term Debt and Lease Obligation, Including Current Maturities |  |  | 325 |  |  | 325 |  |  |  |  |  |  |
Line of Credit [Member] | Cerro Verde [Member] |  |  |  |  |  |  |  |  |  |  |  |  |
Total Debt [Abstract] |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term Debt and Lease Obligation, Including Current Maturities |  |  | 325,000,000 |  |  | 325,000,000 |  |  |  |  |  |  | 523,000,000
Line of Credit [Member] | Cerro Verde [Member] | 3.55% Senior Notes Due March 2022 |  |  |  |  |  |  |  |  |  |  |  |  |
Total Debt [Abstract] |  |  |  |  |  |  |  |  |  |  |  |  |
Current portion of debt |  |  | (524,000,000) |  |  | (524,000,000) |  |  |  |  |  |  |
Line of Credit [Member] | Cerro Verde [Member] | 3.55% Senior Notes Due June 2022 |  |  |  |  |  |  |  |  |  |  |  |  |
Total Debt [Abstract] |  |  |  |  |  |  |  |  |  |  |  |  |
Current portion of debt |  |  | (325,000,000) |  |  | (325,000,000) |  |  |  |  |  |  |
Line of Credit [Member] | PT-FI Term Loan |  |  |  |  |  |  |  |  |  |  |  |  |
Total Debt [Abstract] |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term Debt and Lease Obligation, Including Current Maturities |  |  | 146,000,000 |  |  | 146,000,000 |  |  |  |  |  |  | 0
Long-term Debt, Gross |  |  | 158,000,000 |  |  | 158,000,000 |  |  |  |  |  |  |
Line of Credit [Member] | Letter of Credit [Member] |  |  |  |  |  |  |  |  |  |  |  |  |
Total Debt [Abstract] |  |  |  |  |  |  |  |  |  |  |  |  |
Letter of credit |  |  | 8,000,000 |  |  | 8,000,000 |  |  |  |  |  |  |
Revolving credit facility, availability |  |  | 1,500,000,000 |  |  | 1,500,000,000 |  |  |  |  |  |  |
Line of Credit [Member] | Revolving Credit Facility [Member] |  |  |  |  |  |  |  |  |  |  |  |  |
Total Debt [Abstract] |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term Debt and Lease Obligation, Including Current Maturities |  |  | 0 |  |  | 0 |  |  |  |  |  |  |
Letter of credit |  | $ 333,000,000 |  |  |  |  |  |  |  |  |  |  |
Revolving credit facility, availability |  |  | 3,500,000,000 |  |  | 3,500,000,000 |  |  |  |  |  |  |
Line of Credit [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) | Minimum |  |  |  |  |  |  |  |  |  |  |  |  |
Total Debt [Abstract] |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument, Basis Spread on Variable Rate |  | 1.875% |  |  |  |  |  |  |  |  |  |  |
Line of Credit [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) | Maximum |  |  |  |  |  |  |  |  |  |  |  |  |
Total Debt [Abstract] |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument, Basis Spread on Variable Rate |  | 2.125% |  |  |  |  |  |  |  |  |  |  |
Line of Credit [Member] | Revolving Credit Facility [Member] | Maturing 2024 [Member] |  |  |  |  |  |  |  |  |  |  |  |  |
Total Debt [Abstract] |  |  |  |  |  |  |  |  |  |  |  |  |
Revolving credit facility, availability |  |  | 3,280,000,000 |  |  | 3,280,000,000 |  |  |  |  |  |  |
Line of Credit [Member] | Revolving Credit Facility [Member] | Maturing 2023 [Member] |  |  |  |  |  |  |  |  |  |  |  |  |
Total Debt [Abstract] |  |  |  |  |  |  |  |  |  |  |  |  |
Revolving credit facility, availability |  |  | 220,000,000 |  |  | 220,000,000 |  |  |  |  |  |  |
Line of Credit [Member] | Unsecured Credit Facility |  |  |  |  |  |  |  |  |  |  |  |  |
Total Debt [Abstract] |  |  |  |  |  |  |  |  |  |  |  |  |
Debt, principal |  | $ 1,000,000,000 |  |  |  |  |  |  |  |  |  |  |
Senior Notes [Member] |  |  |  |  |  |  |  |  |  |  |  |  |
Total Debt [Abstract] |  |  |  |  |  |  |  |  |  |  |  |  |
Net loss on early extinguishment of debt |  |  |  | $ (59,000,000) |  |  | $ (100,000,000) |  |  |  |  |  |
Senior Notes [Member] | 4.00% Senior Notes Due 2021 |  |  |  |  |  |  |  |  |  |  |  |  |
Total Debt [Abstract] |  |  |  |  |  |  |  |  |  |  |  |  |
Stated interest rate |  |  |  | 4.00% |  |  | 4.00% |  |  |  |  |  |
Senior Notes [Member] | 3.55% Senior Notes Due 2022 |  |  |  |  |  |  |  |  |  |  |  |  |
Total Debt [Abstract] |  |  |  |  |  |  |  |  |  |  |  |  |
Debt, principal |  |  | $ 524,000,000 |  |  | $ 524,000,000 |  |  |  |  |  |  |
Stated interest rate |  |  | 3.55% | 3.55% |  | 3.55% | 3.55% |  |  |  |  |  |
Senior Notes [Member] | Senior Notes Due 2023, 3.875% [Member] |  |  |  |  |  |  |  |  |  |  |  |  |
Total Debt [Abstract] |  |  |  |  |  |  |  |  |  |  |  |  |
Stated interest rate |  |  |  | 3.875% |  |  | 3.875% |  |  |  |  |  |
Senior Notes [Member] | Senior Notes due 2024 4 point 55 percent [Member] |  |  |  |  |  |  |  |  |  |  |  |  |
Total Debt [Abstract] |  |  |  |  |  |  |  |  |  |  |  |  |
Stated interest rate |  |  |  | 4.55% |  |  | 4.55% |  |  |  |  |  |
Senior Notes [Member] | FCX |  |  |  |  |  |  |  |  |  |  |  |  |
Total Debt [Abstract] |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term Debt and Lease Obligation, Including Current Maturities |  |  | $ 8,790,000,000 |  |  | $ 8,790,000,000 |  |  |  |  |  |  | 8,783,000,000
Debentures [Member] | Freeport McMoRan Corporation [Member] |  |  |  |  |  |  |  |  |  |  |  |  |
Total Debt [Abstract] |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term Debt and Lease Obligation, Including Current Maturities |  |  | 355,000,000 |  |  | 355,000,000 |  |  |  |  |  |  | 356,000,000
Other Debt, Including Capital Leases and Short Term Borrowings [Member] |  |  |  |  |  |  |  |  |  |  |  |  |
Total Debt [Abstract] |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term Debt and Lease Obligation, Including Current Maturities |  |  | $ 49,000,000 |  |  | $ 49,000,000 |  |  |  |  |  |  | $ 49,000,000
PT-FI Term Loan |  |  |  |  |  |  |  |  |  |  |  |  |
Total Debt [Abstract] |  |  |  |  |  |  |  |  |  |  |  |  |
Line of Credit Facility, Maximum Borrowing Capacity |  | $ 667,000,000 |  |  |  |  |  |  |  |  |  |  |
Forecast |  |  |  |  |  |  |  |  |  |  |  |  |
Total Debt [Abstract] |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument, Covenant Compliance, Leverage Ratio |  |  |  |  |  |  |  |  | 3.75 |  |  |  |
Debt Instrument, Covenant, Interest Coverage Ratio, Minimum |  |  |  |  |  |  |  |  |  | 2.25 |  |  |
Forecast | Senior Notes [Member] | 3.55% Senior Notes Due 2022 |  |  |  |  |  |  |  |  |  |  |  |  |
Total Debt [Abstract] |  |  |  |  |  |  |  |  |  |  |  |  |
Interest costs |  |  |  |  |  |  |  | $ 19,000,000 |  |  |  |  |

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- Definition Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (b)(1) -URI http://asc.fasb.org/extlink&oid=120520924&loc=SL6031897-161870 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(16)) -URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878 + Details
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- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(16)) -URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910 + Details
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