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Business Segments (Tables)
 9 Months Ended
Sep. 30, 2021
Segment Reporting [Abstract]  
Revenue from External Customers by Products and Services
Product Revenues. FCX’s revenues attributable to the products it sold for the third quarters and first nine months of 2021 and 2020 follow (in millions):
Three Months EndedNine Months Ended
September 30,September 30,
 2021202020212020
Copper:
Concentrate$2,531 $1,185 $6,316 $2,783 
Cathode1,463 1,085 4,232 3,046 
Rod and other refined copper products1,048 634 2,565 1,479 
Purchased coppera
124 167 652 568 
Gold741 497 1,856 1,108 
Molybdenum372 189 904 626 
Otherb
210 159 666 431 
Adjustments to revenues:
Treatment charges(126)(95)(324)(250)
Royalty expensec
(97)(56)(242)(102)
Export dutiesd
(72)(23)(145)(43)
Revenues from contracts with customers6,194 3,742 16,480 9,646 
Embedded derivativese
(111)109 201 57 
Total consolidated revenues$6,083 $3,851 $16,681 $9,703 
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.
e.Refer to Note 6 for discussion of embedded derivatives related to FCX’s provisionally priced concentrate and cathode sales contracts.
Schedule of financial information by business segment
Financial Information by Business Segment
(In millions)
 AtlanticCorporate,
North America Copper MinesSouth America MiningCopperOther
CerroIndonesiaMolybdenumRod &Smelting& Elimi-FCX
MorenciOtherTotalVerdeOtherTotalMiningMinesRefining& RefiningnationsTotal
Three Months Ended September 30, 2021           
Revenues:            
Unaffiliated customers$16 $64 $80 $979 $149 $1,128 $1,961 
a
$— $1,697 $783 $434 
b
$6,083 
Intersegment711 1,020 1,731 95 — 95 81 151 7 — (2,065)— 
Production and delivery312 592 904 533 97 630 569 70 1,701 765 (1,630)3,009 
Depreciation, depletion and amortization
40 54 94 101 10 111 280 19 1 7 16 528 
Metals inventory adjustments
13 — 13 — — — — — — — 1 14 
Selling, general and administrative expenses
— 1 1 2 — 2 28 — — 5 66 102 
Mining exploration and research expenses— 1 1 — — — — — — — 14 15 
Environmental obligations and shutdown costs
(1)(1)(2)— — — — — — — 15 13 
Net gain on sales of assets— — — — — — — — — — (60)
c
(60)
Operating income (loss)363 437 800 438 42 480 1,165 62 2 6 (53)2,462 
Interest expense, net— 1 1 6 — 6 1 — — 1 129 138 
Provision for (benefit from) income taxes— — — 197 24 221 382 
d
— — (1)26 628 
Total assets at September 30, 20212,586 5,244 7,830 8,554 1,843 10,397 18,592 1,726 278 1,067 7,027 46,917 
Capital expenditures42 74 116 41 6 47 328 1 1 5 43 
e
541 
Three Months Ended September 30, 2020            
Revenues:            
Unaffiliated customers$4 $12 $16 $632 $108 $740 $1,023 
a
$— $1,270 $536 $266 
b
$3,851 
Intersegment584 637 1,221 

66 — 66 3 42 8 3 (1,343)— 
Production and delivery308 460 768 394 83 477 409 51 1,272 522 (1,034)2,465 
Depreciation, depletion and amortization
42 49 91 92 13 105 150 13 6 8 21 394 
Metals inventory adjustments
— (4)(4)— — — — 3 2 — 8 9 
Selling, general and administrative expenses
1 — 1 2 — 2 25 — — 5 39 72 
Mining exploration and research expenses— — — — — — — — — — 8 8 
Environmental obligations and shutdown costs
— (3)(3)— — — — — — — 24 21 
Net loss on sales of assets— — — — — — — — — — 2 2 
Operating income (loss)237 147 384 210 12 222 442 (25)(2)4 (145)880 
Interest expense, net— — — 21 — 21 — — — — 99 120 
Provision for (benefit from) income taxes— — — 105 4 109 211 — — — (23)297 
Total assets at September 30, 20202,654 5,137 7,791 8,569 1,640 10,209 16,858 1,770 251 877 3,343 41,099 
Capital expenditures21 45 66 26 5 31 297 3 1 6 32 
e
436 
a.Includes PT-FI's sales to PT Smelting totaling $795 million in third-quarter 2021 and $506 million in third-quarter 2020.
b.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.
c.Represents the gain on the sale of FCX’s remaining cobalt business located in Kokkola, Finland (Freeport Cobalt).
d.Includes net tax benefits of $69 million associated with the release of a portion of the valuation allowances recorded against PT RTI NOLs.
e.Includes capital expenditures for the new greenfield smelter and precious metals refinery (collectively, the Indonesia smelter project) of $31 million in third-quarter 2021 and $27 million in third-quarter 2020.
(In millions)     
AtlanticCorporate,
North America Copper MinesSouth America MiningCopperOther
CerroIndonesiaMolybdenumRod &Smelting& Elimi-FCX
MorenciOtherTotalVerdeOtherTotalMiningMinesRefining& RefiningnationsTotal
Nine months ended September 30, 2021           
Revenues:            
Unaffiliated customers$77 $147 $224 $2,721 $512 $3,233 $5,097 
a
$— $4,695 $2,264 $1,168 
b
$16,681 
Intersegment1,996 2,783 4,779 260 — 260 189 310 20 — (5,558)— 
Production and delivery932 1,646 2,578 1,463 
c
306 1,769 1,552 183 4,708 2,213 (4,141)
d
8,862 
Depreciation, depletion and amortization114 161 275 272 34 306 726 51 3 22 47 1,430 
Metals inventory adjustments13 — 13 — — — — 1 — — 1 15 
Selling, general and administrative expenses1 2 3 6 — 6 81 — — 17 182 289 
Mining exploration and research expenses— 1 1 — — — — — — — 35 36 
Environmental obligations and shutdown costs— (1)(1)— — — — — — — 52 51 
Net gain on sales of assets— — — — — — — — — — (63)
e
(63)
Operating income (loss)1,013 1,121 2,134 1,240 172 1,412 2,927 75 4 12 (503)6,061 
Interest expense, net— 1 1 31 — 31 8 — — 4 387 431 
Provision for (benefit from) income taxes— — — 515 62 577 1,101 
f
— — (1)(3)1,674 
Capital expenditures74 137 211 84 10 94 904 4 2 18 111 
g
1,344 
Nine months ended September 30, 2020           
Revenues:            
Unaffiliated customers$26 $35 $61 $1,479 $312 $1,791 $2,151 
a
$— $3,491 $1,429 $780 
b
$9,703 
Intersegment1,473 1,676 3,149 

156 — 156 38 171 24 16 (3,554)— 
Production and delivery1,005 1,410 2,415 1,152 297 1,449 1,130 178 3,529 1,379 (2,676)7,404 
Depreciation, depletion and amortization129 143 272 273 42 315 375 44 14 22 51 1,093 
Metals inventory adjustments4 48 52 — 3 3 — 8 3 — 26 92 
Selling, general and administrative expenses2 1 3 5 — 5 81 — — 15 169 273 
Mining exploration and research expenses— 2 2 — — — — — — — 40 42 
Environmental obligations and shutdown costs— (3)(3)— — — — — 1 — 60 58 
Net loss on sales of assets— — — — — — — — — — 13 13 
Operating income (loss)359 110 469 205 (30)175 603 (59)(32)29 (457)728 
Interest expense, net2 — 2 69 — 69 2 — — 4 285 362 
Provision for (benefit from) income taxes— — — 82 (6)76 302 — — 1 (46)333 
Capital expenditures92 306 398 116 40 156 865 14 5 17 118 
g
1,573 
a.Includes PT-FI's sales to PT Smelting totaling $2.3 billion for the first nine months of 2021 and $1.3 billion for the first nine months of 2020.
b.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.
c.Includes nonrecurring charges totaling $74 million associated with labor-related charges at Cerro Verde for agreements reached with approximately 65 percent of its hourly employees.
d.Includes charges associated with the major maintenance turnaround at the Miami smelter totaling $87 million.
e.Includes a $60 million gain on the sale of Freeport Cobalt.
f.Includes net tax benefits of $69 million associated with the release of a portion of the valuation allowances recorded against PT RTI NOLs.
g.Includes capital expenditures for the Indonesia smelter project of $79 million for the first nine months of 2021 and $94 million for the first nine months of 2020.