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CONTINGENCIES (Tables) | 12 Months Ended
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Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract] |
Schedule of Environmental Obligations | A summary of changes in estimated environmental obligations for the years ended December 31 follows:
| 2022 |  | 2021 |  | 2020
Balance at beginning of year | $ | 1,664 |  |  | $ | 1,584 |  |  | $ | 1,561 |
Accretion expense a | 110 |  |  | 104 |  |  | 102 |
Additions b | 57 |  |  | 60 |  |  | 38 |
Reductions b | (14) |  |  | (20) |  |  | (58) |
Spending | (77) |  |  | (64) |  |  | (59) |
Balance at end of year | 1,740 |  |  | 1,664 |  |  | 1,584 |
Less current portion | (125) |  |  | (64) |  |  | (83) |
Long-term portion | $ | 1,615 |  |  | $ | 1,600 |  |  | $ | 1,501 |
a.Represents accretion of the fair value of environmental obligations assumed in the acquisition of FMC, which were determined on a discounted cash flow basis. b.Adjustments to environmental obligations are charged to operating income. Adjustments primarily reflect revisions for changes in the anticipated scope and timing of projects and other noncash adjustments.
Schedule of Asset Retirement Obligations | A summary of changes in FCX’s AROs for the years ended December 31 follows:
| 2022 |  | 2021 |  | 2020 |
Balance at beginning of year | $ | 2,716 |  |  | $ | 2,472 |  |  | $ | 2,505 |  |
Liabilities incurred | 9 |  |  | 2 |  |  | 7 |  |
Settlements and revisions to cash flow estimates, net | 381 |  | a | 331 |  | a | (13) |  |
Accretion expense | 134 |  |  | 112 |  |  | 131 |  |
Dispositions | — |  |  | — |  |  | (2) |  |
Spending | (197) |  |  | (201) |  |  | (156) |  |
Balance at end of year | 3,043 |  |  | 2,716 |  |  | 2,472 |  |
Less current portion | (195) |  |  | (200) |  |  | (268) |  |
Long-term portion | $ | 2,848 |  |  | $ | 2,516 |  |  | $ | 2,204 |  |
a.Includes adjustments at PT-FI, Morenci and Bagdad totaling $314 million for the year 2022 and adjustments at PT-FI totaling $397 million for the year 2021, see further discussion below.
Summary of income tax examinations | The tax years for FCX’s major tax jurisdictions that remain subject to examination are as follows:
Jurisdiction |  | Years Subject to Examination |  | Additional Open Years
U.S. Federal |  | 2017-2018 |  | 2014-2016, 2019-2022
Indonesia |  | 2012-2017 |  | 2020-2022
Peru |  | - |  | 2017-2022
Chile |  | 2020-2021 |  | 2019,2022
A summary of these assessments follows:
Tax Year |  | Tax Assessment |  | Penalties and Interest |  | Total |
2003 to 2008 |  | $ | 48 |  |  | $ | 130 |  |  | $ | 178 |  |
2009 |  | 56 |  |  | 52 |  |  | 108 |  |
2010 |  | 54 |  |  | 125 |  |  | 179 |  |
2011 and 2012 |  | 42 |  |  | 73 |  |  | 115 |  |
2013 |  | 48 |  |  | 66 |  |  | 114 |  |
2014 to 2017 |  | 73 |  |  | 30 |  |  | 103 |  |
|  | $ | 321 |  |  | $ | 476 |  |  | $ | 797 |  |
Excluding surface water tax assessments discussed below and the Indonesia government’s previous imposition of a 7.5% export duty that PT-FI paid under protest during the period April 2017 to December 21, 2018 (refer to Note 13), a summary of these assessments, including potential penalties follows:
Tax Year |  | Tax Assessment |  | Penalties and Interest |  | Total
2005 |  | $ | 62 |  |  | $ | 29 |  |  | $ | 91 |
2007 |  | 45 |  |  | 22 |  |  | 67 |
2012 and 2013 |  | 41 |  |  | 41 |  |  | 82 |
2014 and 2015 |  | 108 |  |  | — |  |  | 108 |
2016 |  | 257 |  |  | 336 |  |  | 593 |
2017 |  | 7 |  |  | 2 |  |  | 9 |
|  | $ | 520 |  |  | $ | 430 |  |  | $ | 950 |

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