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Business Segments (Segment Reporting) (Details)
$ in Millions
 3 Months Ended
Mar. 31, 2023
USD ($)
segment
Mar. 31, 2022
USD ($)
Dec. 31, 2022
USD ($)
Segment Reporting Information [Line Items]      
Number of Operating Segments | segment 4    
Revenues $ 5,389 $ 6,603  
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (Deprecated 2019-01-31) (3,165) (3,150)  
Cost, Depreciation, Amortization and Depletion 399 489  
Selling, general and administrative expenses (126) (115)  
Mining exploration and research expenses 31 24  
Environmental obligations and shutdown costs 67 16  
Operating income 1,601 2,809  
Interest expense, net 151 127  
Provision for (benefit from) income taxes 499 824  
Net income (loss) attributable to noncontrolling interests 386 377  
Total assets 50,909 48,832 $ 51,093
Capital expenditures $ 1,121 723  
Business Segments BUSINESS SEGMENTS
FCX has organized its mining operations into four primary divisions - North America copper mines, South America mining, Indonesia mining and Molybdenum mines, and operating segments that meet certain thresholds are reportable segments. Separately disclosed in the following tables are FCX’s reportable segments, which include the Morenci and Cerro Verde copper mines, the Grasberg minerals district (Indonesia Mining), the Rod & Refining operations and Atlantic Copper Smelting & Refining.

Intersegment sales between FCX’s business segments are based on terms similar to arms-length transactions with third parties at the time of the sale. Intersegment sales may not be reflective of the actual prices ultimately realized because of a variety of factors, including additional processing, timing of sales to unaffiliated customers and transportation premiums.

FCX defers recognizing profits on sales from its mines to other segments, including Atlantic Copper Smelting & Refining and, through December 31, 2022, on 39.5% of PT-FI’s sales to PT Smelting, until final sales to third parties occur. Quarterly variations in ore grades, the timing of intercompany shipments and changes in product prices result in variability in FCX’s net deferred profits and quarterly earnings.

Beginning January 1, 2023, PT-FI's commercial arrangement with PT Smelting converted from a concentrate sales agreement to a tolling arrangement. Under this arrangement, PT-FI pays PT Smelting a tolling fee to smelt and refine its concentrate and PT-FI retains title to all products for sale to third parties (i.e., there are no further sales from PT-FI to PT Smelting). While the new tolling agreement with PT Smelting does not significantly change PT-FI’s economics, it impacted the timing of PT-FI’s first-quarter 2023 sales and working capital requirements, as a portion of PT-FI’s first-quarter 2023 production was deferred in inventory and will be sold as refined metal in future periods.

FCX allocates certain operating costs, expenses and capital expenditures to its operating divisions and individual segments. However, not all costs and expenses applicable to an operation are allocated. U.S. federal and state income taxes are recorded and managed at the corporate level (included in Corporate, Other & Eliminations), whereas foreign income taxes are recorded and managed at the applicable country level. In addition, most mining exploration and research activities are managed on a consolidated basis, and those costs, along with some selling, general and administrative costs, are not allocated to the operating divisions or individual segments. Accordingly, the following Financial Information by Business Segment reflects management determinations that may not be indicative of what the actual financial performance of each operating division or segment would be if it was an independent entity.
Product Revenues. FCX’s revenues attributable to the products it sold for the first quarters of 2023 and 2022 follow (in millions):

Three Months Ended
March 31,
 20232022
Copper:
Concentrate$1,587 $2,691 
Cathode1,327 1,435 
Rod and other refined copper products921 1,116 
Purchased coppera
204 70 
Molybdenum592 378 
Gold531 811 
Otherb
133 188 
Adjustments to revenues:
Treatment chargesc
(101)(133)
Royalty expensed
(60)(95)
PT-FI export dutiese
(18)(98)
f
Revenues from contracts with customers5,116 6,363 
Embedded derivativesg
273 240 
Total consolidated revenues$5,389 $6,603 
a.FCX purchases copper cathode primarily for processing by its Rod & Refining operations.
b.Primarily includes revenues associated with silver.
c.First-quarter 2023 treatment charges exclude tolling costs paid to PT Smelting, which are recorded as production costs in the consolidated statements of income.
d.Reflects royalties on sales from PT-FI and Cerro Verde that will vary with the volume of metal sold and prices.
e.Refer to Note 8 for further discussion of PT-FI export duties.
f.Includes a charge of $18 million associated with an adjustment to prior-period export duties.
g.Refer to Note 6 for discussion of embedded derivatives related to FCX’s provisionally priced copper concentrate and cathode sales contracts.
    
PT Smelting      
Segment Reporting Information [Line Items]      
Deferred Intercompany Profit, Percentage 39.50%    
PT Freeport Indonesia      
Segment Reporting Information [Line Items]      
Portion of Gold Sales Attributable to Parent $ 35    
PT Freeport Indonesia | FCX      
Segment Reporting Information [Line Items]      
Noncontrolling interest, ownership percentage by parent 48.76%   81.00%
Operating Segments | North America      
Segment Reporting Information [Line Items]      
Revenues $ 129 145  
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (Deprecated 2019-01-31) (1,162) (1,018)  
Cost, Depreciation, Amortization and Depletion 103 105  
Selling, general and administrative expenses (1) (1)  
Mining exploration and research expenses 0 0  
Environmental obligations and shutdown costs 21 0  
Operating income 383 827  
Interest expense, net 0 0  
Provision for (benefit from) income taxes 0 0  
Net income (loss) attributable to noncontrolling interests 0 0  
Total assets 8,810 8,057  
Capital expenditures 196 130  
Operating Segments | South America      
Segment Reporting Information [Line Items]      
Revenues 1,192 1,266  
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (Deprecated 2019-01-31) (807) (670)  
Cost, Depreciation, Amortization and Depletion 107 97  
Selling, general and administrative expenses (2) (2)  
Mining exploration and research expenses 0 0  
Environmental obligations and shutdown costs 0 0  
Operating income 520 605  
Interest expense, net 29 3  
Provision for (benefit from) income taxes 194 241  
Net income (loss) attributable to noncontrolling interests 158 174  
Total assets 10,483 10,603  
Capital expenditures 100 56  
Corporate And Eliminations      
Segment Reporting Information [Line Items]      
Revenues 597 405  
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (Deprecated 2019-01-31) 1,496 1,715  
Cost, Depreciation, Amortization and Depletion 13 16  
Selling, general and administrative expenses (87) (77)  
Mining exploration and research expenses 31 24  
Environmental obligations and shutdown costs 46 16  
Operating income (274) (142)  
Interest expense, net 107 120  
Provision for (benefit from) income taxes (25) (3)  
Net income (loss) attributable to noncontrolling interests (43) 13  
Total assets 7,490 7,788  
Capital expenditures 350 144  
Intersegment      
Segment Reporting Information [Line Items]      
Revenues 0 0  
Intersegment | North America      
Segment Reporting Information [Line Items]      
Revenues 1,541 1,806  
Intersegment | South America      
Segment Reporting Information [Line Items]      
Revenues 244 108  
PT Smelting | Affiliated Entity [Member]      
Segment Reporting Information [Line Items]      
Revenues 27 917  
Morenci | Operating Segments | North America      
Segment Reporting Information [Line Items]      
Revenues 32 90  
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (Deprecated 2019-01-31) (381) (363)  
Cost, Depreciation, Amortization and Depletion 43 44  
Selling, general and administrative expenses 0 0  
Mining exploration and research expenses 0 0  
Environmental obligations and shutdown costs 0 0  
Operating income 201 394  
Interest expense, net 0 0  
Provision for (benefit from) income taxes 0 0  
Net income (loss) attributable to noncontrolling interests 0 0  
Total assets 3,142 2,773  
Capital expenditures 56 73  
Morenci | Intersegment | North America      
Segment Reporting Information [Line Items]      
Revenues 593 711  
Other Individually Immaterial Operating Segments | Operating Segments | North America      
Segment Reporting Information [Line Items]      
Revenues 97 55  
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (Deprecated 2019-01-31) (781) (655)  
Cost, Depreciation, Amortization and Depletion 60 61  
Selling, general and administrative expenses (1) (1)  
Mining exploration and research expenses 0 0  
Environmental obligations and shutdown costs 21 0  
Operating income 182 433  
Interest expense, net 0 0  
Provision for (benefit from) income taxes 0 0  
Net income (loss) attributable to noncontrolling interests 0 0  
Total assets 5,668 5,284  
Capital expenditures 140 57  
Other Individually Immaterial Operating Segments | Operating Segments | South America      
Segment Reporting Information [Line Items]      
Revenues 234 160  
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (Deprecated 2019-01-31) (187) (112)  
Cost, Depreciation, Amortization and Depletion 16 10  
Selling, general and administrative expenses 0 0  
Mining exploration and research expenses 0 0  
Environmental obligations and shutdown costs 0 0  
Operating income 31 38  
Interest expense, net 0 0  
Provision for (benefit from) income taxes 7 14  
Net income (loss) attributable to noncontrolling interests 18 6  
Total assets 1,871 1,925  
Capital expenditures 39 23  
Other Individually Immaterial Operating Segments | Intersegment | North America      
Segment Reporting Information [Line Items]      
Revenues 948 1,095  
Other Individually Immaterial Operating Segments | Intersegment | South America      
Segment Reporting Information [Line Items]      
Revenues 0 0  
Cerro Verde | Operating Segments | South America      
Segment Reporting Information [Line Items]      
Revenues 958 1,106  
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (Deprecated 2019-01-31) (620) (558)  
Cost, Depreciation, Amortization and Depletion 91 87  
Selling, general and administrative expenses (2) (2)  
Mining exploration and research expenses 0 0  
Environmental obligations and shutdown costs 0 0  
Operating income 489 567  
Interest expense, net 29 3  
Provision for (benefit from) income taxes 187 227  
Net income (loss) attributable to noncontrolling interests 140 168  
Total assets 8,612 8,678  
Capital expenditures 61 33  
Cerro Verde | Intersegment | South America      
Segment Reporting Information [Line Items]      
Revenues 244 108  
Grasberg Segment      
Segment Reporting Information [Line Items]      
Capital expenditures 449 379  
Grasberg Segment | Operating Segments | Indonesia      
Segment Reporting Information [Line Items]      
Revenues 1,199 2,326  
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (Deprecated 2019-01-31) (335) (626)  
Cost, Depreciation, Amortization and Depletion 148 248  
Selling, general and administrative expenses (28) (27)  
Mining exploration and research expenses 0 0  
Environmental obligations and shutdown costs 0 0  
Operating income 857 1,503  
Interest expense, net 9 2  
Provision for (benefit from) income taxes 330 586  
Net income (loss) attributable to noncontrolling interests 271 190  
Total assets 21,046 19,338  
Capital expenditures 449 379  
Grasberg Segment | Intersegment | Indonesia      
Segment Reporting Information [Line Items]      
Revenues 169 78  
Molybdenum      
Segment Reporting Information [Line Items]      
Capital expenditures 9 1  
Molybdenum | Operating Segments      
Segment Reporting Information [Line Items]      
Revenues 0 0  
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (Deprecated 2019-01-31) (96) (75)  
Cost, Depreciation, Amortization and Depletion 20 16  
Selling, general and administrative expenses 0 0  
Mining exploration and research expenses 0 0  
Environmental obligations and shutdown costs 0 0  
Operating income 107 37  
Interest expense, net 0 0  
Provision for (benefit from) income taxes 0 0  
Net income (loss) attributable to noncontrolling interests 0 0  
Total assets 1,707 1,702  
Capital expenditures 9 1  
Molybdenum | Intersegment      
Segment Reporting Information [Line Items]      
Revenues 223 128  
Rod and Refining Segment | Operating Segments      
Segment Reporting Information [Line Items]      
Revenues 1,523 1,743  
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (Deprecated 2019-01-31) (1,527) (1,754)  
Cost, Depreciation, Amortization and Depletion 1 1  
Selling, general and administrative expenses 0 0  
Mining exploration and research expenses 0 0  
Environmental obligations and shutdown costs 0 0  
Operating income 1 (3)  
Interest expense, net 0 0  
Provision for (benefit from) income taxes 0 0  
Net income (loss) attributable to noncontrolling interests 0 0  
Total assets 221 299  
Capital expenditures 5 2  
Rod and Refining Segment | Intersegment      
Segment Reporting Information [Line Items]      
Revenues 6 9  
Atlantic Copper Smelting and Refining Segment | Operating Segments      
Segment Reporting Information [Line Items]      
Revenues 749 718  
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (Deprecated 2019-01-31) (734) (722)  
Cost, Depreciation, Amortization and Depletion 7 6  
Selling, general and administrative expenses (8) (8)  
Mining exploration and research expenses 0 0  
Environmental obligations and shutdown costs 0 0  
Operating income 7 (18)  
Interest expense, net 6 2  
Provision for (benefit from) income taxes 0 0  
Net income (loss) attributable to noncontrolling interests 0 0  
Total assets 1,152 1,045  
Capital expenditures 12 11  
Atlantic Copper Smelting and Refining Segment | Intersegment      
Segment Reporting Information [Line Items]      
Revenues 7 0  
Corporate And Eliminations | Intersegment      
Segment Reporting Information [Line Items]      
Revenues (2,190) (2,129)  
Indonesia Smelter      
Segment Reporting Information [Line Items]      
Capital expenditures $ 323 $ 130