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v3.25.1

Business Segments (Tables) | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Revenue from External Customers by Products and Services | Product Revenues. FCX’s revenues attributable to the products it sold for the first quarters of 2025 and 2024 follow:
| Three Months Ended |  |  |
| March 31, |  |  |
| 2025 |  | 2024 |  |  |  |  |
Copper: |  |  |  |  |  |  |  |
Cathode | $ | 2,025 |  |  | $ | 1,959 |  |  |  |  |  |
Concentrate | 1,386 |  |  | 1,820 |  |  |  |  |  |
Rod and other refined copper products | 960 |  |  | 953 |  |  |  |  |  |
Purchased copper a | 298 |  |  | 146 |  |  |  |  |  |
Gold | 475 |  |  | 1,168 |  |  |  |  |  |
Molybdenum | 442 |  |  | 417 |  |  |  |  |  |
Silver and other | 139 |  |  | 153 |  |  |  |  |  |
Adjustments to revenues: |  |  |  |  |  |  |  |
Royalty expense b | (68) |  |  | (120) |  |  |  |  |  |
PTFI export duties c | (55) |  |  | (156) |  |  |  |  |  |
Treatment charges | (28) |  |  | (129) |  |  |  |  |  |
Revenues from contracts with customers | 5,574 |  |  | 6,211 |  |  |  |  |  |
Embedded derivatives d | 154 |  |  | 110 |  |  |  |  |  |
Total consolidated revenues | $ | 5,728 |  |  | $ | 6,321 |  |  |  |  |  |
a.FCX purchases copper cathode primarily for processing by its Rod & Refining operations. b.Reflects royalties on sales from PTFI and Cerro Verde that will vary with the volume of metal sold and prices. c.Reflects an export duty of 7.5% on copper concentrate exports. d.Refer to Note 5 for discussion of embedded derivatives related to FCX’s provisionally priced copper concentrate and cathode sales contracts.
Schedule of Segment Reporting Information, by Segment | Financial Information by Business Segment
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Atlantic |  |  |  |  |  |  |  | Corporate, |  |  |
| United States Copper Mines |  | South America Operations |  |  |  |  |  |  |  |  |  | Copper |  |  |  |  |  |  |  | Other |  |  |
|  |  |  |  |  |  |  |  | Cerro |  |  |  |  |  | Indonesia |  |  |  | Molybdenum |  | Rod & |  | Smelting |  |  |  |  |  |  |  | & Elimi- |  | FCX |
| Morenci |  |  |  | Other |  | Total |  | Verde |  | Other |  | Total |  | Operations |  |  |  | Mines |  | Refining |  | & Refining |  |  |  |  |  |  |  | nations |  | Total |
Three Months Ended March 31, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unaffiliated customers | $ | 83 |  |  |  |  | $ | 108 |  |  | $ | 191 |  |  | $ | 917 |  |  | $ | 212 |  |  | $ | 1,129 |  |  | $ | 1,564 |  |  |  |  | $ | — |  |  | $ | 1,624 |  |  | $ | 752 |  |  |  |  |  |  |  |  | $ | 468 |  | a | $ | 5,728 |  |
Intersegment | 494 |  |  |  |  | 945 |  |  | 1,439 |  |  | 174 |  |  | 73 |  |  | 247 |  |  | 6 |  |  |  |  | 177 |  |  | 8 |  |  | 3 |  |  |  |  |  |  |  |  | (1,880) |  |  | — |  |
Production and delivery | 419 |  |  |  |  | 793 |  |  | 1,212 |  |  | 587 |  |  | 201 |  |  | 788 |  |  | 578 |  |  |  |  | 122 |  |  | 1,622 |  |  | 734 |  |  |  |  |  |  |  |  | (1,300) |  | b | 3,756 |  |
Depreciation, depletion and amortization (DD&A) | 50 |  |  |  |  | 74 |  |  | 124 |  |  | 91 |  |  | 20 |  |  | 111 |  |  | 186 |  |  |  |  | 26 |  |  | 1 |  |  | 7 |  |  |  |  |  |  |  |  | 11 |  |  | 466 |  |
Selling, general and administrative expenses | — |  |  |  |  | 1 |  |  | 1 |  |  | 2 |  |  | — |  |  | 2 |  |  | 27 |  |  |  |  | — |  |  | — |  |  | 9 |  |  |  |  |  |  |  |  | 115 |  |  | 154 |  |
Exploration and research expenses | 6 |  |  |  |  | 6 |  |  | 12 |  |  | 2 |  |  | 2 |  |  | 4 |  |  | 2 |  |  |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  | 21 |  |  | 39 |  |
Environmental obligations and shutdown costs | (7) |  |  |  |  | — |  |  | (7) |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  | 17 |  |  | 10 |  |
Operating income (loss) | 109 |  |  |  |  | 179 |  |  | 288 |  |  | 409 |  |  | 62 |  |  | 471 |  |  | 777 |  |  |  |  | 29 |  |  | 9 |  |  | 5 |  |  |  |  |  |  |  |  | (276) |  |  | 1,303 |  |
Interest expense, net | — |  |  |  |  | — |  |  | — |  |  | 4 |  |  | — |  |  | 4 |  |  | 9 |  |  |  |  | — |  |  | — |  |  | 11 |  |  |  |  |  |  |  |  | 46 |  |  | 70 |  |
Other (expense) income, net | (1) |  |  |  |  | 3 |  |  | 2 |  |  | 32 |  |  | (1) |  |  | 31 |  |  | 16 |  |  |  |  | — |  |  | — |  |  | (5) |  |  |  |  |  |  |  |  | 14 |  |  | 58 |  |
Provision for income taxes | — |  |  |  |  | — |  |  | — |  |  | 171 |  |  | 22 |  |  | 193 |  |  | 288 |  |  |  |  | — |  |  | — |  |  | 10 |  |  |  |  |  |  |  |  | 9 |  |  | 500 |  |
Equity in affiliated companies’ net earnings (losses) | — |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3 |  |  |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  | (1) |  |  | 2 |  |
Net income attributable to noncontrolling interests | — |  |  |  |  | — |  |  | — |  |  | 126 |  |  | 17 |  |  | 143 |  |  | 275 |  |  |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  | 23 |  |  | 441 |  |
Net income attributable to common stockholders |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 352 |  |
Total assets at March 31, 2025 | 3,239 |  |  |  |  | 6,950 |  |  | 10,189 |  |  | 8,166 |  |  | 2,073 |  |  | 10,239 |  |  | 28,006 |  |  |  |  | 2,021 |  |  | 364 |  |  | 1,448 |  |  |  |  |  |  |  |  | 3,755 |  |  | 56,022 |  |
Capital expenditures | 59 |  |  |  |  | 196 |  |  | 255 |  |  | 74 |  |  | 11 |  |  | 85 |  |  | 704 |  |  |  |  | 19 |  |  | 17 |  |  | 43 |  |  |  |  |  |  |  |  | 49 |  |  | 1,172 |  |
Three Months Ended March 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unaffiliated customers | $ | 37 |  |  |  |  | $ | 40 |  |  | $ | 77 |  |  | $ | 826 |  |  | $ | 208 |  |  | $ | 1,034 |  |  | $ | 2,648 |  |  |  |  | $ | — |  |  | $ | 1,489 |  |  | $ | 673 |  |  |  |  |  |  |  |  | $ | 400 |  | a | $ | 6,321 |  |
Intersegment | 540 |  |  |  |  | 885 |  |  | 1,425 |  |  | 102 |  |  | — |  |  | 102 |  |  | 177 |  |  |  |  | 145 |  |  | 10 |  |  | — |  |  |  |  |  |  |  |  | (1,859) |  |  | — |  |
Production and delivery | 459 |  |  |  |  | 765 |  |  | 1,224 |  |  | 603 |  |  | 170 |  |  | 773 |  |  | 861 |  |  |  |  | 119 |  |  | 1,487 |  |  | 650 |  |  |  |  |  |  |  |  | (1,270) |  | c | 3,844 |  |
DD&A | 48 |  |  |  |  | 64 |  |  | 112 |  |  | 92 |  |  | 16 |  |  | 108 |  |  | 335 |  |  |  |  | 16 |  |  | 1 |  |  | 7 |  |  |  |  |  |  |  |  | 16 |  |  | 595 |  |
Selling, general and administrative expenses | — |  |  |  |  | 1 |  |  | 1 |  |  | 2 |  |  | — |  |  | 2 |  |  | 31 |  |  |  |  | — |  |  | — |  |  | 9 |  |  |  |  |  |  |  |  | 101 |  |  | 144 |  |
Exploration and research expenses | 4 |  |  |  |  | 8 |  |  | 12 |  |  | 3 |  |  | 1 |  |  | 4 |  |  | 2 |  |  |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  | 19 |  |  | 37 |  |
Environmental obligations and shutdown costs | — |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  | 67 |  |  | 67 |  |
Operating income (loss) | 66 |  |  |  |  | 87 |  |  | 153 |  |  | 228 |  |  | 21 |  |  | 249 |  |  | 1,596 |  |  |  |  | 10 |  |  | 11 |  |  | 7 |  |  |  |  |  |  |  |  | (392) |  |  | 1,634 |  |
Interest expense, net | — |  |  |  |  | — |  |  | — |  |  | 5 |  |  | — |  |  | 5 |  |  | 1 |  |  |  |  | — |  |  | — |  |  | 10 |  |  |  |  |  |  |  |  | 73 |  |  | 89 |  |
Other (expense) income, net | — |  |  |  |  | (2) |  |  | (2) |  |  | 11 |  |  | 13 |  |  | 24 |  |  | 38 |  |  |  |  | — |  |  | — |  |  | 6 |  |  |  |  |  |  |  |  | 63 |  |  | 129 |  |
Provision for (benefit from) income taxes | — |  |  |  |  | — |  |  | — |  |  | 91 |  |  | 12 |  |  | 103 |  |  | 409 |  | d |  |  | — |  |  | — |  |  | (13) |  |  |  |  |  |  |  |  | 13 |  |  | 512 |  |
Equity in affiliated companies’ net (losses) earnings | — |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (2) |  |  |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  | 2 |  |  | — |  |
Net income (loss) attributable to noncontrolling interests | — |  |  |  |  | — |  |  | — |  |  | 76 |  |  | 14 |  |  | 90 |  |  | 600 |  | d |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  | (1) |  |  | 689 |  |
Net income attributable to common stockholders |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 473 |  |
Total assets at March 31, 2024 | 3,148 |  |  |  |  | 6,315 |  |  | 9,463 |  |  | 8,075 |  |  | 1,960 |  |  | 10,035 |  |  | 27,162 |  |  |  |  | 1,885 |  |  | 257 |  |  | 1,354 |  |  |  |  |  |  |  |  | 4,042 |  |  | 54,198 |  |
Capital expenditures | 44 |  |  |  |  | 193 |  |  | 237 |  |  | 60 |  |  | 22 |  |  | 82 |  |  | 842 |  |  |  |  | 27 |  |  | 5 |  |  | 23 |  |  |  |  |  |  |  |  | 38 |  |  | 1,254 |  |

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