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BUSINESS SEGMENTS INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2022
Segment Reporting [Abstract] |
Revenues by product | FCX’s revenues attributable to the products it sold for the years ended December 31 follow:
| 2022 |  | 2021 |  | 2020
Copper: |  |  |  |  |
Concentrate | $ | 9,650 |  |  | $ | 8,705 |  |  | $ | 4,294 |
Cathode | 5,134 |  |  | 5,900 |  |  | 4,204 |
Rod and other refined copper products | 3,699 |  |  | 3,369 |  |  | 2,052 |
Purchased copper a | 481 |  |  | 757 |  |  | 821 |
Gold | 3,397 |  |  | 2,580 |  |  | 1,702 |
Molybdenum | 1,416 |  |  | 1,283 |  |  | 848 |
Other b | 688 |  |  | 821 |  |  | 592 |
Adjustments to revenues: |  |  |  |  |
Treatment charges | (503) |  |  | (445) |  |  | (362) |
Royalty expense c | (366) |  |  | (330) |  |  | (165) |
PT-FI export duties | (325) |  | d | (218) |  |  | (92) |
Revenues from contracts with customers | 23,271 |  |  | 22,422 |  |  | 13,894 |
Embedded derivatives e | (491) |  |  | 423 |  |  | 304 |
Total consolidated revenues | $ | 22,780 |  |  | $ | 22,845 |  |  | $ | 14,198 |
a.FCX purchases copper cathode primarily for processing by its Rod & Refining operations. b.Primarily includes revenues associated with silver and, prior to 2022, cobalt. c.Reflects royalties on sales from PT-FI and Cerro Verde that will vary with the volume of metal sold and prices. d.Includes a charge of $18 million associated with an adjustment to prior-period export duties. 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,
| 2022 |  | 2021
Long-lived assets:a |  |  |
Indonesia | $ | 18,121 |  |  | $ | 16,288 |
U.S. | 8,801 |  |  | 8,292 |
Peru | 6,727 |  |  | 6,827 |
Chile | 1,103 |  |  | 1,110 |
Other | 309 |  |  | 261 |
Total | $ | 35,061 |  |  | $ | 32,778 |
a.Excludes deferred tax assets and intangible assets
Revenues by geographic area of customer |
| Years Ended December 31,
| 2022 |  | 2021 |  | 2020
Revenues:a |  |  |  |  |
U.S. | $ | 7,339 |  |  | $ | 7,168 |  |  | $ | 5,248 |
Indonesia | 3,026 |  |  | 3,132 |  |  | 1,760 |
Switzerland | 2,740 |  |  | 3,682 |  |  | 2,032 |
Japan | 2,462 |  |  | 2,372 |  |  | 1,205 |
Singapore | 1,492 |  |  | 156 |  |  | 191 |
Spain | 1,174 |  |  | 1,495 |  |  | 785 |
China | 929 |  |  | 1,044 |  |  | 692 |
Germany | 632 |  |  | 469 |  |  | 248 |
Chile | 383 |  |  | 343 |  |  | 221 |
United Kingdom | 355 |  |  | 659 |  |  | 491 |
India | 330 |  |  | 207 |  |  | 152 |
South Korea | 302 |  |  | 270 |  |  | 89 |
Philippines | 249 |  |  | 264 |  |  | 34 |
Other | 1,367 |  |  | 1,584 |  |  | 1,050 |
Total | $ | 22,780 |  |  | $ | 22,845 |  |  | $ | 14,198 |
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, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unaffiliated customers | $ | 175 |  |  |  |  | $ | 253 |  |  | $ | 428 |  |  | $ | 3,444 |  |  | $ | 768 |  |  | $ | 4,212 |  |  | $ | 8,028 |  | a |  |  | $ | — |  |  | $ | 6,281 |  |  | $ | 2,439 |  |  |  |  |  |  |  |  | $ | 1,392 |  | b | $ | 22,780 |  |
Intersegment | 2,514 |  |  |  |  | 3,768 |  |  | 6,282 |  |  | 506 |  |  | — |  |  | 506 |  |  | 398 |  |  |  |  | 565 |  |  | 31 |  |  | 4 |  |  |  |  |  |  |  |  | (7,786) |  |  | — |  |
Production and delivery | 1,542 |  |  |  |  | 2,819 |  |  | 4,361 |  |  | 2,359 |  |  | 702 |  |  | 3,061 |  |  | 2,684 |  | c |  |  | 359 |  |  | 6,330 |  |  | 2,452 |  | d |  |  |  |  |  |  | (6,206) |  |  | 13,041 |  |
Depreciation, depletion and amortization | 177 |  |  |  |  | 233 |  |  | 410 |  |  | 357 |  |  | 51 |  |  | 408 |  |  | 1,025 |  |  |  |  | 74 |  |  | 5 |  |  | 27 |  |  |  |  |  |  |  |  | 70 |  |  | 2,019 |  |
Metals inventory adjustments | 8 |  |  |  |  | 8 |  |  | 16 |  |  | 10 |  |  | 3 |  |  | 13 |  |  | — |  |  |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  | — |  |  | 29 |  |
Selling, general and administrative expenses | 2 |  |  |  |  | 3 |  |  | 5 |  |  | 8 |  |  | — |  |  | 8 |  |  | 117 |  |  |  |  | — |  |  | — |  |  | 25 |  |  |  |  |  |  |  |  | 265 |  |  | 420 |  |
Mining exploration and research expenses | — |  |  |  |  | 1 |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  | 114 |  |  | 115 |  |
Environmental obligations and shutdown costs | (5) |  |  |  |  | 1 |  |  | (4) |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  | 125 |  |  | 121 |  |
Net gain on sales of assets | — |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  | (2) |  |  | (2) |  |
Operating income (loss) | 965 |  |  |  |  | 956 |  |  | 1,921 |  |  | 1,216 |  |  | 12 |  |  | 1,228 |  |  | 4,600 |  |  |  |  | 132 |  |  | (23) |  |  | (61) |  |  |  |  |  |  |  |  | (760) |  |  | 7,037 |  |
Interest expense, net | 1 |  |  |  |  | 1 |  |  | 2 |  |  | 15 |  |  | — |  |  | 15 |  |  | 40 |  |  |  |  | — |  |  | — |  |  | 15 |  |  |  |  |  |  |  |  | 488 |  |  | 560 |  |
Provision for (benefit from) income taxes | — |  |  |  |  | — |  |  | — |  |  | 461 |  |  | (8) |  |  | 453 |  |  | 1,820 |  |  |  |  | — |  |  | — |  |  | (1) |  |  |  |  |  |  |  |  | (5) |  |  | 2,267 |  |
Total assets at December 31, 2022 | 3,052 |  |  |  |  | 5,552 |  |  | 8,604 |  |  | 8,398 |  |  | 1,873 |  |  | 10,271 |  |  | 20,639 |  |  |  |  | 1,697 |  |  | 183 |  |  | 1,262 |  |  |  |  |  |  |  |  | 8,437 |  |  | 51,093 |  |
Capital expenditures | 263 |  |  |  |  | 334 |  |  | 597 |  |  | 164 |  |  | 140 |  |  | 304 |  |  | 1,575 |  |  |  |  | 33 |  |  | 9 |  |  | 76 |  |  |  |  |  |  |  |  | 875 |  | e | 3,469 |  |
a.Includes sales to PT Smelting totaling $3.0 billion. 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 charges totaling $116 million associated with an unfavorable ARO change. Refer to Note 12 for further discussion. d.Includes maintenance charges and idle facility costs associated with major maintenance turnarounds totaling $41 million. e.Primarily includes capital expenditures for the Indonesia smelter projects.

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