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v3.25.2

Business Segments (Tables) | 6 Months Ended
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Jun. 30, 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 second quarters and for the first six months of 2025 and 2024 follow:
| Three Months Ended |  | Six Months Ended |
| June 30, |  | June 30, |
| 2025 |  | 2024 |  | 2025 |  | 2024 |
Copper: |  |  |  |  |  |  |  |
Cathode | $ | 2,173 |  |  | $ | 2,273 |  |  | $ | 4,198 |  |  | $ | 4,232 |  |
Concentrate | 2,023 |  |  | 1,596 |  |  | 3,409 |  |  | 3,416 |  |
Rod and other refined copper products | 969 |  |  | 974 |  |  | 1,929 |  |  | 1,927 |  |
Purchased copper a | 173 |  |  | 262 |  |  | 471 |  |  | 408 |  |
Gold | 1,833 |  |  | 935 |  |  | 2,308 |  |  | 2,103 |  |
Molybdenum | 479 |  |  | 472 |  |  | 921 |  |  | 889 |  |
Silver and other | 173 |  |  | 144 |  |  | 312 |  |  | 297 |  |
Adjustments to revenues: |  |  |  |  |  |  |  |
PTFI export duties b | (146) |  |  | (75) |  |  | (202) |  |  | (231) |  |
Royalty expense c | (135) |  |  | (93) |  |  | (203) |  |  | (213) |  |
Treatment charges | (16) |  |  | (90) |  |  | (43) |  |  | (219) |  |
Revenues from contracts with customers | 7,526 |  |  | 6,398 |  |  | 13,100 |  |  | 12,609 |  |
Embedded derivatives d | 56 |  |  | 226 |  |  | 210 |  |  | 336 |  |
Total consolidated revenues | $ | 7,582 |  |  | $ | 6,624 |  |  | $ | 13,310 |  |  | $ | 12,945 |  |
a.FCX purchases copper cathode primarily for processing by its U.S. Rod & Refining operations. b.Reflects an export duty of 7.5% on copper concentrate exports. c.Reflects royalties on sales from PTFI and Cerro Verde that will vary with the volume of metal sold and prices. 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, |  |  |
| U.S. Copper Mines |  | South America Operations |  |  |  |  |  |  |  | U.S. |  | Copper |  |  |  |  |  |  |  | Other |  |  |
|  |  |  |  |  |  |  |  | Cerro |  |  |  |  |  | Indonesia |  |  |  | Molybdenum |  | Rod & |  | Smelting |  |  |  |  |  |  |  | & Elimi- |  | FCX |
| Morenci |  |  |  | Other |  | Total |  | Verde |  | Other |  | Total |  | Operations |  |  |  | Mines |  | Refining |  | & Refining |  |  |  |  |  |  |  | nations |  | Total |
Three Months Ended June 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unaffiliated customers | $ | 63 |  |  |  |  | $ | 64 |  |  | $ | 127 |  |  | $ | 836 |  |  | $ | 183 |  |  | $ | 1,019 |  |  | $ | 3,419 |  |  |  |  | $ | — |  |  | $ | 1,692 |  |  | $ | 815 |  |  |  |  |  |  |  |  | $ | 510 |  | a | $ | 7,582 |  |
Intersegment | 559 |  |  |  |  | 1,028 |  |  | 1,587 |  |  | 193 |  |  | 49 |  |  | 242 |  |  | (2) |  | b |  |  | 180 |  |  | 9 |  |  | 3 |  |  |  |  |  |  |  |  | (2,019) |  |  | — |  |
Production and delivery | 435 |  |  |  |  | 779 |  |  | 1,214 |  |  | 590 |  |  | 178 |  |  | 768 |  |  | 1,124 |  |  |  |  | 128 |  |  | 1,693 |  |  | 791 |  |  |  |  |  |  |  |  | (1,436) |  |  | 4,282 |  |
Depreciation, depletion and amortization (DD&A) | 46 |  |  |  |  | 72 |  |  | 118 |  |  | 94 |  |  | 19 |  |  | 113 |  |  | 389 |  |  |  |  | 26 |  |  | 1 |  |  | 7 |  |  |  |  |  |  |  |  | 14 |  |  | 668 |  |
Selling, general and administrative expenses | 1 |  |  |  |  | — |  |  | 1 |  |  | 1 |  |  | 1 |  |  | 2 |  |  | 35 |  |  |  |  | — |  |  | — |  |  | 7 |  |  |  |  |  |  |  |  | 82 |  |  | 127 |  |
Exploration and research expenses | 8 |  |  |  |  | 5 |  |  | 13 |  |  | 4 |  |  | — |  |  | 4 |  |  | 1 |  |  |  |  | 1 |  |  | — |  |  | — |  |  |  |  |  |  |  |  | 27 |  |  | 46 |  |
Environmental obligations and shutdown costs | — |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  | 27 |  |  | 27 |  |
Operating income (loss) | 132 |  |  |  |  | 236 |  |  | 368 |  |  | 340 |  |  | 34 |  |  | 374 |  |  | 1,868 |  |  |  |  | 25 |  |  | 7 |  |  | 13 |  |  |  |  |  |  |  |  | (223) |  |  | 2,432 |  |
Interest expense, net | — |  |  |  |  | 1 |  |  | 1 |  |  | 4 |  |  | — |  |  | 4 |  |  | 16 |  |  |  |  | — |  |  | — |  |  | 7 |  |  |  |  |  |  |  |  | 54 |  |  | 82 |  |
Other (expense) income, net | (1) |  |  |  |  | 1 |  |  | — |  |  | 20 |  |  | 2 |  |  | 22 |  |  | 15 |  |  |  |  | (1) |  |  | (1) |  |  | (14) |  |  |  |  |  |  |  |  | 20 |  |  | 41 |  |
Provision for income taxes | — |  |  |  |  | — |  |  | — |  |  | 139 |  |  | 12 |  |  | 151 |  |  | 677 |  |  |  |  | — |  |  | — |  |  | 2 |  |  |  |  |  |  |  |  | 20 |  |  | 850 |  |
Equity in affiliated companies’ net earnings | — |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 6 |  |  |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  | — |  |  | 6 |  |
Net income attributable to noncontrolling interests | — |  |  |  |  | — |  |  | — |  |  | 105 |  |  | 4 |  |  | 109 |  |  | 648 |  |  |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  | 18 |  |  | 775 |  |
Net income attributable to common stockholders |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 772 |  |
Total assets at June 30, 2025 | 3,337 |  |  |  |  | 7,253 |  |  | 10,590 |  |  | 8,385 |  |  | 2,091 |  |  | 10,476 |  |  | 27,781 |  |  |  |  | 2,027 |  |  | 432 |  |  | 1,508 |  |  |  |  |  |  |  |  | 3,678 |  |  | 56,492 |  |
Capital expenditures | 70 |  |  |  |  | 203 |  |  | 273 |  |  | 78 |  |  | 14 |  |  | 92 |  |  | 740 |  |  |  |  | 27 |  |  | 26 |  |  | 45 |  |  |  |  |  |  |  |  | 58 |  |  | 1,261 |  |
Three Months Ended June 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unaffiliated customers | $ | 13 |  |  |  |  | $ | 10 |  |  | $ | 23 |  |  | $ | 1,075 |  |  | $ | 254 |  |  | $ | 1,329 |  |  | $ | 2,185 |  |  |  |  | $ | — |  |  | $ | 1,693 |  |  | $ | 898 |  |  |  |  |  |  |  |  | $ | 496 |  | a | $ | 6,624 |  |
Intersegment | 587 |  |  |  |  | 926 |  |  | 1,513 |  |  | 182 |  |  | — |  |  | 182 |  |  | 83 |  |  |  |  | 138 |  |  | 11 |  |  | 2 |  |  |  |  |  |  |  |  | (1,929) |  |  | — |  |
Production and delivery | 438 |  |  |  |  | 713 |  |  | 1,151 |  |  | 679 |  | c | 181 |  |  | 860 |  |  | 672 |  |  |  |  | 134 |  |  | 1,692 |  |  | 859 |  |  |  |  |  |  |  |  | (1,493) |  |  | 3,875 |  |
DD&A | 45 |  |  |  |  | 61 |  |  | 106 |  |  | 97 |  |  | 17 |  |  | 114 |  |  | 248 |  |  |  |  | 16 |  |  | 1 |  |  | 7 |  |  |  |  |  |  |  |  | 17 |  |  | 509 |  |
Selling, general and administrative expenses | 1 |  |  |  |  | — |  |  | 1 |  |  | 2 |  |  | — |  |  | 2 |  |  | 30 |  |  |  |  | — |  |  | — |  |  | 6 |  |  |  |  |  |  |  |  | 84 |  |  | 123 |  |
Exploration and research expenses | 5 |  |  |  |  | 9 |  |  | 14 |  |  | 3 |  |  | 2 |  |  | 5 |  |  | 4 |  |  |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  | 17 |  |  | 40 |  |
Environmental obligations and shutdown costs | — |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  | 28 |  |  | 28 |  |
Operating income (loss) | 111 |  |  |  |  | 153 |  |  | 264 |  |  | 476 |  |  | 54 |  |  | 530 |  |  | 1,314 |  |  |  |  | (12) |  |  | 11 |  |  | 28 |  |  |  |  |  |  |  |  | (86) |  |  | 2,049 |  |
Interest expense, net | — |  |  |  |  | 1 |  |  | 1 |  |  | 5 |  |  | — |  |  | 5 |  |  | 6 |  |  |  |  | — |  |  | — |  |  | 8 |  |  |  |  |  |  |  |  | 68 |  |  | 88 |  |
Other income, net | — |  |  |  |  | 1 |  |  | 1 |  |  | 5 |  |  | — |  |  | 5 |  |  | 30 |  |  |  |  | — |  |  | — |  |  | 2 |  |  |  |  |  |  |  |  | 31 |  |  | 69 |  |
Provision for income taxes | — |  |  |  |  | — |  |  | — |  |  | 191 |  |  | 23 |  |  | 214 |  |  | 490 |  |  |  |  | — |  |  | — |  |  | 1 |  |  |  |  |  |  |  |  | 49 |  |  | 754 |  |
Equity in affiliated companies’ net earnings | — |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3 |  |  |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  | 1 |  |  | 4 |  |
Net income attributable to noncontrolling interests | — |  |  |  |  | — |  |  | — |  |  | 142 |  |  | 22 |  |  | 164 |  |  | 463 |  |  |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  | 37 |  |  | 664 |  |
Net income attributable to common stockholders |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 616 |  |
Total assets at June 30, 2024 | 3,182 |  |  |  |  | 6,508 |  |  | 9,690 |  |  | 8,368 |  |  | 1,988 |  |  | 10,356 |  |  | 26,501 |  |  |  |  | 1,915 |  |  | 273 |  |  | 1,410 |  |  |  |  |  |  |  |  | 4,490 |  |  | 54,635 |  |
Capital expenditures | 47 |  |  |  |  | 196 |  |  | 243 |  |  | 67 |  |  | 23 |  |  | 90 |  |  | 648 |  |  |  |  | 36 |  |  | 11 |  |  | 37 |  |  |  |  |  |  |  |  | 51 |  |  | 1,116 |  |

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