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v3.25.2

Fair Value Measurement (Tables) | 6 Months Ended
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Jun. 30, 2025
Fair Value Disclosures [Abstract] |
Fair Value Measurement Inputs Disclosure | A summary of the carrying amount and fair value of FCX’s financial instruments (including those measured at net asset value (NAV) as a practical expedient), other than cash and cash equivalents, restricted cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities, accrued income taxes and dividends payable (refer to Note 5), follows:
| At June 30, 2025
| Carrying |  | Fair Value
| Amount |  | Total |  | NAV |  | Level 1 |  | Level 2 |  | Level 3
Assets |  |  |  |  |  |  |  |  |  |  |
Investment securities:a,b |  |  |  |  |  |  |  |  |  |  |
U.S. core fixed income fund | $ | 28 |  |  | $ | 28 |  |  | $ | 28 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Equity securities | 21 |  |  | 21 |  |  | — |  |  | 21 |  |  | — |  |  | — |
Total | 49 |  |  | 49 |  |  | 28 |  |  | 21 |  |  | — |  |  | — |
Legally restricted funds:a |  |  |  |  |  |  |  |  |  |  |
U.S. core fixed income fund | 69 |  |  | 69 |  |  | 69 |  |  | — |  |  | — |  |  | — |
Government mortgage-backed securities | 57 |  |  | 57 |  |  | — |  |  | — |  |  | 57 |  |  | — |
Corporate bonds | 35 |  |  | 35 |  |  | — |  |  | — |  |  | 35 |  |  | — |
Government bonds and notes | 25 |  |  | 25 |  |  | — |  |  | — |  |  | 25 |  |  | — |
Money market funds | 22 |  |  | 22 |  |  | — |  |  | 22 |  |  | — |  |  | — |
Asset-backed securities | 16 |  |  | 16 |  |  | — |  |  | — |  |  | 16 |  |  | — |
Collateralized mortgage-backed securities | 1 |  |  | 1 |  |  | — |  |  | — |  |  | 1 |  |  | — |
Total | 225 |  |  | 225 |  |  | 69 |  |  | 22 |  |  | 134 |  |  | — |
Derivatives:c |  |  |  |  |  |  |  |  |  |  |
Embedded derivatives in provisional sales/purchase contracts in a gross asset position | 66 |  |  | 66 |  |  | — |  |  | — |  |  | 66 |  |  | — |
Copper futures and swap contracts | 41 |  |  | 41 |  |  | — |  |  | 27 |  |  | 14 |  |  | — |
Total | 107 |  |  | 107 |  |  | — |  |  | 27 |  |  | 80 |  |  | — |
Liabilities |  |  |  |  |  |  |  |  |  |  |
Derivatives:c |  |  |  |  |  |  |  |  |  |  |
Embedded derivatives in provisional sales/purchase contracts in a gross liability position | 19 |  |  | 19 |  |  | — |  |  | — |  |  | 19 |  |  | — |
Copper futures and swap contracts | 2 |  |  | 2 |  |  | — |  |  | — |  |  | 2 |  |  | — |
Copper forward contracts | 1 |  |  | 1 |  |  | — |  |  | 1 |  |  | — |  |  | — |
Total | 22 |  |  | 22 |  |  | — |  |  | 1 |  |  | 21 |  |  | — |
Debt d | 9,251 |  |  | 9,249 |  |  | — |  |  | — |  |  | 9,249 |  |  | — |
| At December 31, 2024
| Carrying |  | Fair Value
| Amount |  | Total |  | NAV |  | Level 1 |  | Level 2 |  | Level 3
Assets |  |  |  |  |  |  |  |  |  |  |
Investment securities:a,b |  |  |  |  |  |  |  |  |  |  |
U.S. core fixed income fund | $ | 27 |  |  | $ | 27 |  |  | $ | 27 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Equity securities | 9 |  |  | 9 |  |  | — |  |  | 9 |  |  | — |  |  | — |
Total | 36 |  |  | 36 |  |  | 27 |  |  | 9 |  |  | — |  |  | — |
Legally restricted funds:a |  |  |  |  |  |  |  |  |  |  |
U.S. core fixed income fund | 66 |  |  | 66 |  |  | 66 |  |  | — |  |  | — |  |  | — |
Government mortgage-backed securities | 54 |  |  | 54 |  |  | — |  |  | — |  |  | 54 |  |  | — |
Government bonds and notes | 34 |  |  | 34 |  |  | — |  |  | — |  |  | 34 |  |  | — |
Corporate bonds | 31 |  |  | 31 |  |  | — |  |  | — |  |  | 31 |  |  | — |
Money market funds | 19 |  |  | 19 |  |  | — |  |  | 19 |  |  | — |  |  | — |
Asset-backed securities | 12 |  |  | 12 |  |  | — |  |  | — |  |  | 12 |  |  | — |
Collateralized mortgage-backed securities | 1 |  |  | 1 |  |  | — |  |  | — |  |  | 1 |  |  | — |
Total | 217 |  |  | 217 |  |  | 66 |  |  | 19 |  |  | 132 |  |  | — |
Derivatives:c |  |  |  |  |  |  |  |  |  |  |
Embedded derivatives in provisional sales/purchase contracts in a gross asset position | 10 |  |  | 10 |  |  | — |  |  | — |  |  | 10 |  |  | — |
Copper forward contracts | 10 |  |  | 10 |  |  | — |  |  | 4 |  |  | 6 |  |  | — |
Total | 20 |  |  | 20 |  |  | — |  |  | 4 |  |  | 16 |  |  | — |
Liabilities |  |  |  |  |  |  |  |  |  |  |
Derivatives:c |  |  |  |  |  |  |  |  |  |  |
Embedded derivatives in provisional sales/purchase contracts in a gross liability position | 60 |  |  | 60 |  |  | — |  |  | — |  |  | 60 |  |  | — |
Copper futures and swap contracts | 28 |  |  | 28 |  |  | — |  |  | 17 |  |  | 11 |  |  | — |
Copper forward contracts | 1 |  |  | 1 |  |  | — |  |  | 1 |  |  | — |  |  | — |
Total | 89 |  |  | 89 |  |  | — |  |  | 18 |  |  | 71 |  |  | — |
Debt d | 8,948 |  |  | 8,807 |  |  | — |  |  | — |  |  | 8,807 |  |  | — |
a.Current portion included in other current assets and long-term portion included in other assets. b.Excludes restricted cash and cash equivalents (which approximated fair value), primarily associated with talc-related litigation at June 30, 2025, and PTFI’s export proceeds at December 31, 2024. Refer to Note 5. c.Refer to Note 5 for further discussion and balance sheet classifications. d.Recorded at cost except for debt assumed in acquisitions, which are recorded at fair value at the respective acquisition dates.

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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
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