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DEBT (Tables) | 12 Months Ended
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Dec. 31, 2022
Debt Disclosure [Abstract] |
Schedule of Debt Components | The components of debt follow:
| December 31,
| 2022 |  | 2021
Revolving credit facilities: |  |  |
FCX | $ | — |  |  | $ | — |
PT-FI | — |  |  | — |
Cerro Verde | — |  |  | — |
Senior notes and debentures: |  |  |
Issued by FCX: |  |  |
3.875% Senior Notes due 2023 a | 995 |  |  | 995 |
4.55% Senior Notes due 2024 | 729 |  |  | 728 |
5.00% Senior Notes due 2027 | 465 |  |  | 594 |
4.125% Senior Notes due 2028 | 543 |  |  | 693 |
4.375% Senior Notes due 2028 | 475 |  |  | 643 |
5.25% Senior Notes due 2029 | 499 |  |  | 593 |
4.25% Senior Notes due 2030 | 494 |  |  | 593 |
4.625% Senior Notes due 2030 | 615 |  |  | 841 |
5.40% Senior Notes due 2034 | 723 |  |  | 742 |
5.450% Senior Notes due 2043 | 1,687 |  |  | 1,846 |
Issued by PT-FI: |  |  |
4.763% Senior Notes due 2027 | 745 |  |  | — |
5.315% Senior Notes due 2032 | 1,489 |  |  | — |
6.200% Senior Notes due 2052 | 744 |  |  | — |
Issued by FMC: |  |  |
7 1/8% Debentures due 2027 | 115 |  |  | 115 |
9 1/2% Senior Notes due 2031 | 122 |  |  | 123 |
6 1/8% Senior Notes due 2034 | 118 |  |  | 117 |
PT-FI Term Loan | — |  |  | 432 |
Cerro Verde Term Loan | — |  |  | 325 |
Other | 62 |  |  | 70 |
Total debt | 10,620 |  |  | 9,450 |
Less current portion of debt | (1,037) |  |  | (372) |
Long-term debt | $ | 9,583 |  |  | $ | 9,078 |
a.Maturing in March 2023.
Schedule of Extinguishment of Debt | Listed below are the FCX senior notes, purchased or redeemed in full during the three-year period ended December 31, 2022.
| Principal Amount |  | Net Adjustments |  | Book Value |  | Redemption Value |  | (Gain)/Loss
Year Ended December 31, 2022 |  |  |  |  |  |  |  |  |
5.00% Senior Notes due 2027 | $ | 131 |  |  | $ | (1) |  |  | $ | 130 |  |  | $ | 130 |  |  | $ | — |
4.125% Senior Notes due 2028 | 153 |  |  | (1) |  |  | 152 |  |  | 143 |  |  | (9) |
4.375% Senior Notes due 2028 | 171 |  |  | (2) |  |  | 169 |  |  | 163 |  |  | (6) |
5.25% Senior Notes due 2029 | 97 |  |  | (1) |  |  | 96 |  |  | 93 |  |  | (3) |
4.25% Senior Notes due 2030 | 101 |  |  | (1) |  |  | 100 |  |  | 93 |  |  | (7) |
4.625% Senior Notes due 2030 | 228 |  |  | (2) |  |  | 226 |  |  | 215 |  |  | (11) |
5.40% Senior Notes due 2034 | 20 |  |  | — |  |  | 20 |  |  | 20 |  |  | — |
5.450% Senior Notes due 2043 | 160 |  |  | (2) |  |  | 158 |  |  | 150 |  |  | (8) |
Total | $ | 1,061 |  |  | $ | (10) |  |  | $ | 1,051 |  |  | $ | 1,007 |  |  | $ | (44) |
Year Ended December 31, 2021 |  |  |  |  |  |  |  |  |
FCX 3.55% Senior Notes due 2022 | $ | 524 |  |  | $ | — |  |  | $ | 524 |  |  | $ | 524 |  |  | $ | — |
Year Ended December 31, 2020 |  |  |  |  |  |  |  |  |
FCX 4.00% Senior Notes due 2021 | $ | 195 |  |  | $ | (1) |  |  | $ | 194 |  |  | $ | 205 |  |  | $ | 11 |
FCX 3.55% Senior Notes due 2022 | 1,356 |  |  | (6) |  |  | 1,350 |  |  | 1,391 |  |  | 41 |
FCX 3.875% Senior Notes due 2023 | 927 |  |  | (4) |  |  | 923 |  |  | 964 |  |  | 41 |
FCX 4.55% Senior Notes due 2024 | 120 |  |  | (1) |  |  | 119 |  |  | 126 |  |  | 7 |
Total | $ | 2,598 |  |  | $ | (12) |  |  | $ | 2,586 |  |  | $ | 2,686 |  |  | $ | 100 |
Debt Instrument Redemption | The senior notes listed below are redeemable in whole or in part, at the option of FCX, at a make-whole redemption price prior to the dates stated below, at specified redemption prices beginning on the dates stated below, and at 100% of principal two years before maturity.
Debt Instrument |  | Date
5.00% Senior Notes due 2027 |  | September 1, 2022
4.125% Senior Notes due 2028 |  | March 1, 2023
4.375% Senior Notes due 2028 |  | August 1, 2023
5.25% Senior Notes due 2029 |  | September 1, 2024
4.25% Senior Notes due 2030 |  | March 1, 2025
4.625% Senior Notes due 2030 |  | August 1, 2025
The senior notes listed below are redeemable in whole or in part, at the option of FCX, at a make-whole redemption price prior to the dates stated below and beginning on the dates stated below at 100% of principal.
Debt Instrument |  | Date
3.875% Senior Notes due 2023 |  | December 15, 2022
4.55% Senior Notes due 2024 |  | August 14, 2024
5.40% Senior Notes due 2034 |  | May 14, 2034
5.450% Senior Notes due 2043 |  | September 15, 2042
The senior notes listed below are redeemable in whole or in part, at the option of PT-FI, at a make-whole redemption price prior to the dates stated below and beginning on the dates stated below at 100% of principal.
Debt Instrument |  | Date
4.763% Senior Notes due 2027 |  | March 14, 2027
5.315% Senior Notes due 2032 |  | January 14, 2032
6.2% Senior Notes due 2052 |  | October 14, 2051

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