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v3.25.3

Business Segments (Segment Reporting) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended |  |  |
--- | --- | --- | --- | --- | ---
Sep. 30, 2025 | Sep. 30, 2024 | Sep. 30, 2025 | Sep. 30, 2024 | Dec. 31, 2024 | Aug. 31, 2024 | Jan. 01, 2023
Segment Reporting Information [Line Items] |  |  |  |  |  |  |
Revenues | $ 6,972 | $ 6,790 | $ 20,282 | $ 19,735 |  |  |
Production and delivery | 4,205 | 4,077 | 12,243 | 11,796 |  |  |
Depreciation, depletion and amortization (DD&A) | 625 | 600 | 1,759 | 1,704 |  |  |
Selling, general and administrative expenses | 131 | 117 | 412 | 384 |  |  |
Exploration and research expenses | 55 | 38 | 140 | 115 |  |  |
Environmental obligations and shutdown costs | 0 | 20 | 37 | 115 |  |  |
Gain on sales of assets | (16) | 0 | (16) | 0 |  |  |
Operating income | 1,972 | 1,938 | 5,707 | 5,621 |  |  |
Interest expense, net | (107) | (72) | (259) | (249) |  |  |
Other Nonoperating Income (Expense) | 59 | 97 | 158 | 295 |  |  |
Provision for (benefit from) income taxes | (669) | (737) | (2,019) | (2,003) |  |  |
Equity in affiliated companies’ net (losses) earnings | (8) | 10 | 0 | 14 |  |  |
Net income attributable to noncontrolling interests | (573) | (710) | (1,789) | (2,063) |  |  |
Net loss attributable to common stockholders | 674 | 526 | 1,798 | 1,615 |  |  |
Total assets | 56,828 | 55,400 | 56,828 | 55,400 | $ 54,848 |  |
Capital expenditures | 1,056 | 1,199 | 3,489 | 3,569 |  |  |
Cerro Verde |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |
Investment owned, percent |  |  |  |  |  | 53.56% |
PT Freeport Indonesia |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |
Provision for (benefit from) income taxes |  |  |  | (182) |  |  |
Recovery costs | 43 |  |  |  |  |  |
PT Freeport Indonesia | PT Smelting |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |
Tolling fee | 39 |  | 39 |  |  |  |
PT Freeport Indonesia | FCX |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |
Noncontrolling interest, ownership percentage by parent |  |  |  |  | 81.00% |  | 48.76%
PT Freeport Indonesia | PT Indonesia Asahan Aluminium (Persero) (Inalum) [Member] |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |
Noncontrolling interest, ownership percentage by parent |  |  |  |  | 19.00% |  |
Operating Segments | North America |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |
Revenues | 58 | 52 | 376 | 152 |  |  |
Production and delivery | 1,394 | 1,303 | 3,820 | 3,678 |  |  |
Depreciation, depletion and amortization (DD&A) | 134 | 109 | 376 | 327 |  |  |
Selling, general and administrative expenses | 1 | 1 | 3 | 3 |  |  |
Exploration and research expenses | 15 | 8 | 40 | 34 |  |  |
Environmental obligations and shutdown costs |  | 0 | (7) | 0 |  |  |
Gain on sales of assets | 0 |  | 0 |  |  |  |
Operating income | 396 | 170 | 1,052 | 587 |  |  |
Interest expense, net | 0 | 0 | (1) | (1) |  |  |
Other Nonoperating Income (Expense) | 2 | 9 | 4 | 8 |  |  |
Provision for (benefit from) income taxes | 0 | 0 | 0 | 0 |  |  |
Equity in affiliated companies’ net (losses) earnings | 0 | 0 | 0 | 0 |  |  |
Net income attributable to noncontrolling interests | 0 | 0 | 0 | 0 |  |  |
Total assets | 10,631 | 9,819 | 10,631 | 9,819 |  |  |
Capital expenditures | 315 | 263 | 843 | 743 |  |  |
Operating Segments | South America |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |
Revenues | 1,183 | 1,123 | 3,331 | 3,486 |  |  |
Production and delivery | 802 | 817 | 2,358 | 2,450 |  |  |
Depreciation, depletion and amortization (DD&A) | 114 | 110 | 338 | 332 |  |  |
Selling, general and administrative expenses | 2 | 2 | 6 | 6 |  |  |
Exploration and research expenses | 3 | 2 | 11 | 11 |  |  |
Environmental obligations and shutdown costs |  | 0 | 0 | 0 |  |  |
Gain on sales of assets | 0 |  | 0 |  |  |  |
Operating income | 493 | 385 | 1,338 | 1,164 |  |  |
Interest expense, net | (5) | (6) | (13) | (16) |  |  |
Other Nonoperating Income (Expense) | 23 | 20 | 76 | 49 |  |  |
Provision for (benefit from) income taxes | (202) | (158) | (546) | (475) |  |  |
Equity in affiliated companies’ net (losses) earnings | 0 | 0 | 0 | 0 |  |  |
Net income attributable to noncontrolling interests | (145) | (126) | (397) | (380) |  |  |
Total assets | 10,437 | 10,289 | 10,437 | 10,289 |  |  |
Capital expenditures | 110 | 100 | 287 | 272 |  |  |
Corporate And Eliminations |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |
Revenues | 514 | 440 | 1,492 | 1,336 |  |  |
Production and delivery | (1,691) | (1,417) | (4,427) | (4,180) |  |  |
Depreciation, depletion and amortization (DD&A) | 15 | 14 | 40 | 47 |  |  |
Selling, general and administrative expenses | 85 | 76 | 282 | 261 |  |  |
Exploration and research expenses | 35 | 26 | 83 | 62 |  |  |
Environmental obligations and shutdown costs |  | 20 | 44 | 115 |  |  |
Gain on sales of assets | (16) |  | (16) |  |  |  |
Operating income | (222) | (286) | (721) | (764) |  |  |
Interest expense, net | (69) | (46) | (169) | (187) |  |  |
Other Nonoperating Income (Expense) | 20 | 34 | 54 | 128 |  |  |
Provision for (benefit from) income taxes | (4) | 47 | (33) | (15) |  |  |
Equity in affiliated companies’ net (losses) earnings | 1 | 4 | 0 | 7 |  |  |
Net income attributable to noncontrolling interests | 8 | 17 | (33) | (19) |  |  |
Total assets | 4,255 | 4,078 | 4,255 | 4,078 |  |  |
Capital expenditures | 59 | 63 | 166 | 152 |  |  |
Asset write-down |  | 32 |  | 32 |  |  |
Abandonment obligations |  |  |  | 99 |  |  |
Corporate And Eliminations | Miami Smelter |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |
Production and delivery |  |  | 73 |  |  |  |
Intersegment |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |
Revenues | 0 | 0 | 0 | 0 |  |  |
Intersegment | North America |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |
Revenues | 1,882 | 1,539 | 4,908 | 4,477 |  |  |
Intersegment | South America |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |
Revenues | 231 | 193 | 720 | 477 |  |  |
Morenci | Operating Segments | North America |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |
Revenues | 46 | 40 | 192 | 90 |  |  |
Production and delivery | 499 | 492 | 1,353 | 1,389 |  |  |
Depreciation, depletion and amortization (DD&A) | 55 | 47 | 151 | 140 |  |  |
Selling, general and administrative expenses | 0 | 0 | 1 | 1 |  |  |
Exploration and research expenses | 11 | 4 | 25 | 13 |  |  |
Environmental obligations and shutdown costs |  | 0 | (7) | 0 |  |  |
Gain on sales of assets | 0 |  | 0 |  |  |  |
Operating income | 134 | 50 | 375 | 227 |  |  |
Interest expense, net | 0 | 0 | 0 | 0 |  |  |
Other Nonoperating Income (Expense) | (1) | (1) | (3) | (1) |  |  |
Provision for (benefit from) income taxes | 0 | 0 | 0 | 0 |  |  |
Equity in affiliated companies’ net (losses) earnings | 0 | 0 | 0 | 0 |  |  |
Net income attributable to noncontrolling interests | 0 | 0 | 0 | 0 |  |  |
Total assets | 3,289 | 3,172 | 3,289 | 3,172 |  |  |
Capital expenditures | 66 | 48 | 195 | 139 |  |  |
Morenci | Intersegment | North America |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |
Revenues | 653 | 553 | 1,706 | 1,680 |  |  |
Other Individually Immaterial Operating Segments | Operating Segments | North America |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |
Revenues | 12 | 12 | 184 | 62 |  |  |
Production and delivery | 895 | 811 | 2,467 | 2,289 |  |  |
Depreciation, depletion and amortization (DD&A) | 79 | 62 | 225 | 187 |  |  |
Selling, general and administrative expenses | 1 | 1 | 2 | 2 |  |  |
Exploration and research expenses | 4 | 4 | 15 | 21 |  |  |
Environmental obligations and shutdown costs |  | 0 | 0 | 0 |  |  |
Gain on sales of assets | 0 |  | 0 |  |  |  |
Operating income | 262 | 120 | 677 | 360 |  |  |
Interest expense, net | 0 | 0 | (1) | (1) |  |  |
Other Nonoperating Income (Expense) | 3 | 10 | 7 | 9 |  |  |
Provision for (benefit from) income taxes | 0 | 0 | 0 | 0 |  |  |
Equity in affiliated companies’ net (losses) earnings | 0 | 0 | 0 | 0 |  |  |
Net income attributable to noncontrolling interests | 0 | 0 | 0 | 0 |  |  |
Total assets | 7,342 | 6,647 | 7,342 | 6,647 |  |  |
Capital expenditures | 249 | 215 | 648 | 604 |  |  |
Other Individually Immaterial Operating Segments | Operating Segments | South America |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |
Revenues | 204 | 237 | 599 | 699 |  |  |
Production and delivery | 166 | 187 | 545 | 538 |  |  |
Depreciation, depletion and amortization (DD&A) | 17 | 18 | 56 | 51 |  |  |
Selling, general and administrative expenses | 0 | 0 | 1 | 0 |  |  |
Exploration and research expenses | 0 | (1) | 2 | 2 |  |  |
Environmental obligations and shutdown costs |  | 0 | 0 | 0 |  |  |
Gain on sales of assets | 0 |  | 0 |  |  |  |
Operating income | 26 | 33 | 122 | 108 |  |  |
Interest expense, net | 0 | 0 | 0 | 0 |  |  |
Other Nonoperating Income (Expense) | 6 | (2) | 7 | 11 |  |  |
Provision for (benefit from) income taxes | (10) | (10) | (44) | (45) |  |  |
Equity in affiliated companies’ net (losses) earnings | 0 | 0 | 0 | 0 |  |  |
Net income attributable to noncontrolling interests | (2) | (12) | (23) | (48) |  |  |
Total assets | 2,147 | 2,013 | 2,147 | 2,013 |  |  |
Capital expenditures | 11 | 18 | 36 | 63 |  |  |
Other Individually Immaterial Operating Segments | Intersegment | North America |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |
Revenues | 1,229 | 986 | 3,202 | 2,797 |  |  |
Other Individually Immaterial Operating Segments | Intersegment | South America |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |
Revenues | 5 | 0 | 127 | 0 |  |  |
Cerro Verde | Operating Segments | South America |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |
Revenues | 979 | 886 | 2,732 | 2,787 |  |  |
Production and delivery | 636 | 630 | 1,813 | 1,912 |  |  |
Depreciation, depletion and amortization (DD&A) | 97 | 92 | 282 | 281 |  |  |
Selling, general and administrative expenses | 2 | 2 | 5 | 6 |  |  |
Exploration and research expenses | 3 | 3 | 9 | 9 |  |  |
Environmental obligations and shutdown costs |  | 0 | 0 | 0 |  |  |
Gain on sales of assets | 0 |  | 0 |  |  |  |
Operating income | 467 | 352 | 1,216 | 1,056 |  |  |
Interest expense, net | (5) | (6) | (13) | (16) |  |  |
Other Nonoperating Income (Expense) | 17 | 22 | 69 | 38 |  |  |
Provision for (benefit from) income taxes | (192) | (148) | (502) | (430) |  |  |
Equity in affiliated companies’ net (losses) earnings | 0 | 0 | 0 | 0 |  |  |
Net income attributable to noncontrolling interests | (143) | (114) | (374) | (332) |  |  |
Total assets | 8,290 | 8,276 | 8,290 | 8,276 |  |  |
Capital expenditures | 99 | 82 | 251 | 209 |  |  |
Labor and Related Expense |  | 34 |  | 99 |  |  |
Cerro Verde | Intersegment | South America |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |
Revenues | 226 | 193 | 593 | 477 |  |  |
Grasberg Segment | Operating Segments | Indonesia |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |
Revenues | 2,675 | 2,856 | 7,658 | 7,689 |  |  |
Production and delivery | 1,024 | 918 | 2,726 | 2,451 |  |  |
Depreciation, depletion and amortization (DD&A) | 331 | 340 | 906 | 923 |  |  |
Selling, general and administrative expenses | 36 | 32 | 98 | 93 |  |  |
Exploration and research expenses | 2 | 2 | 5 | 8 |  |  |
Environmental obligations and shutdown costs |  | 0 | 0 | 0 |  |  |
Gain on sales of assets | 0 |  | 0 |  |  |  |
Operating income | 1,282 | 1,690 | 3,927 | 4,600 |  |  |
Interest expense, net | (25) | (10) | (50) | (17) |  |  |
Other Nonoperating Income (Expense) | 16 | 42 | 47 | 110 |  |  |
Provision for (benefit from) income taxes | (466) | (625) | (1,431) | (1,524) |  |  |
Equity in affiliated companies’ net (losses) earnings | (9) | 6 | 0 | 7 |  |  |
Net income attributable to noncontrolling interests | (436) | (601) | (1,359) | (1,664) |  |  |
Total assets | 27,464 | 27,474 | 27,464 | 27,474 |  |  |
Capital expenditures | 483 | 713 | 1,927 | 2,203 |  |  |
Remediation costs | 26 |  | 56 |  |  |  |
Grasberg Segment | Operating Segments | Indonesia | Mud Rush |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |
Production and delivery | (195) |  | (195) |  |  |  |
Idle facility costs | 128 |  | 128 |  |  |  |
Recovery costs | 43 |  | 43 |  |  |  |
DD&A, idle facilities | 24 |  | 24 |  |  |  |
Grasberg Segment | Intersegment | Indonesia |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |
Revenues | 0 | 126 | 4 | 386 |  |  |
Molybdenum |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |
Capital expenditures |  |  | 74 | 88 |  |  |
Molybdenum | Operating Segments |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |
Revenues | 0 | 0 | 0 | 0 |  |  |
Production and delivery | 150 | 140 | 400 | 393 |  |  |
Depreciation, depletion and amortization (DD&A) | 22 | 19 | 74 | 51 |  |  |
Selling, general and administrative expenses | 0 | 0 | 0 | 0 |  |  |
Exploration and research expenses | 0 | 0 | 1 | 0 |  |  |
Environmental obligations and shutdown costs |  | 0 | 0 | 0 |  |  |
Gain on sales of assets | 0 |  | 0 |  |  |  |
Operating income | 5 | (27) | 59 | (29) |  |  |
Interest expense, net | 0 | 0 | 0 | 0 |  |  |
Other Nonoperating Income (Expense) | 0 | 0 | (1) | 0 |  |  |
Provision for (benefit from) income taxes | 0 | 0 | 0 | 0 |  |  |
Equity in affiliated companies’ net (losses) earnings | 0 | 0 | 0 | 0 |  |  |
Net income attributable to noncontrolling interests | 0 | 0 | 0 | 0 |  |  |
Total assets | 2,037 | 1,955 | 2,037 | 1,955 |  |  |
Capital expenditures | 28 | 25 | 74 | 88 |  |  |
Molybdenum | Intersegment |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |
Revenues | 177 | 132 | 534 | 415 |  |  |
Rod and Refining Segment | Operating Segments |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |
Revenues | 1,774 | 1,560 | 5,090 | 4,742 |  |  |
Production and delivery | 1,773 | 1,562 | 5,088 | 4,741 |  |  |
Depreciation, depletion and amortization (DD&A) | 2 | 2 | 4 | 4 |  |  |
Selling, general and administrative expenses | 0 | 0 | 0 | 0 |  |  |
Exploration and research expenses | 0 | 0 | 0 | 0 |  |  |
Environmental obligations and shutdown costs |  | 0 | 0 | 0 |  |  |
Gain on sales of assets | 0 |  | 0 |  |  |  |
Operating income | 11 | 7 | 27 | 29 |  |  |
Interest expense, net | 0 | 0 | 0 | 0 |  |  |
Other Nonoperating Income (Expense) | (1) | (1) | (2) | (1) |  |  |
Provision for (benefit from) income taxes | 0 | 0 | 0 | 0 |  |  |
Equity in affiliated companies’ net (losses) earnings | 0 | 0 | 0 | 0 |  |  |
Net income attributable to noncontrolling interests | 0 | 0 | 0 | 0 |  |  |
Total assets | 389 | 294 | 389 | 294 |  |  |
Capital expenditures | 19 | 7 | 62 | 23 |  |  |
Rod and Refining Segment | Intersegment |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |
Revenues | 12 | 11 | 29 | 32 |  |  |
Atlantic Copper Smelting and Refining Segment | Operating Segments |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |
Revenues | 768 | 759 | 2,335 | 2,330 |  |  |
Production and delivery | 753 | 754 | 2,278 | 2,263 |  |  |
Depreciation, depletion and amortization (DD&A) | 7 | 6 | 21 | 20 |  |  |
Selling, general and administrative expenses | 7 | 6 | 23 | 21 |  |  |
Exploration and research expenses | 0 | 0 | 0 | 0 |  |  |
Environmental obligations and shutdown costs |  | 0 | 0 | 0 |  |  |
Gain on sales of assets | 0 |  | 0 |  |  |  |
Operating income | 7 | (1) | 25 | 34 |  |  |
Interest expense, net | (8) | (10) | (26) | (28) |  |  |
Other Nonoperating Income (Expense) | (1) | (7) | (20) | 1 |  |  |
Provision for (benefit from) income taxes | 3 | (1) | (9) | 11 |  |  |
Equity in affiliated companies’ net (losses) earnings | 0 | 0 | 0 | 0 |  |  |
Net income attributable to noncontrolling interests | 0 | 0 | 0 | 0 |  |  |
Total assets | 1,615 | 1,491 | 1,615 | 1,491 |  |  |
Capital expenditures | 42 | 28 | 130 | 88 |  |  |
Atlantic Copper Smelting and Refining Segment | Intersegment |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |
Revenues | 6 | 6 | 12 | 8 |  |  |
Corporate And Eliminations | Intersegment |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |
Revenues | $ (2,308) | $ (2,007) | $ (6,207) | $ (5,795) |  |  |

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