Freeport-McMoRan (FCX) 10-Q 6 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - USD ($) $ in Billions	9 Months Ended
	Sep. 30, 2015	Oct. 30, 2015	Jun. 30, 2014
Document and Entity Information [Abstract]
Entity Registrant Name	FREEPORT-MCMORAN INC
Entity Central Index Key	831,259
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 37.3
Entity Common Stock, Shares Outstanding		1,155,870,213
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions		Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents		$ 338	$ 464
Trade accounts receivable		626	953
Other accounts receivable		1,276	1,610
Inventories:
Materials and supplies, net	[1]	2,071	1,886
Mill and leach stockpiles		1,895	1,914
Product		1,379	1,561
Other current assets		570	657
Total current assets		8,155	9,045
Property, plant, equipment and mining development costs, net		27,355	26,220
Oil and gas properties, net - full cost method
Subject to amortization, less accumulated amortization		3,002	9,187
Not subject to amortization		7,568	10,087
Long-term mill and leach stockpiles		2,326	2,179
Other assets		1,977	1,956
Total assets		50,383	58,674
Current liabilities:
Accounts payable and accrued liabilities		3,445	3,653
Current portion of debt		906	478
Current portion of environmental and asset retirement obligations		336	296
Accrued income taxes		75	410
Dividends payable		65	335
Total current liabilities		4,827	5,172
Long-term debt, less current portion		19,792	18,371
Deferred income taxes		4,363	6,398
Environmental and asset retirement obligations, less current portion		3,708	3,647
Other liabilities		1,727	1,861
Total liabilities		34,417	35,449
Redeemable noncontrolling interest		761	751
Stockholders’ equity:
Common stock		127	117
Capital in excess of par value		23,335	22,281
(Accumulated deficit) retained earnings		(8,305)	128
Accumulated other comprehensive loss		(509)	(544)
Common stock held in treasury		(3,702)	(3,695)
Total stockholders’ equity		10,946	18,287
Noncontrolling interests		4,259	4,187
Total equity		15,205	22,474
Total liabilities and equity		$ 50,383	$ 58,674
[1]	Materials and supplies inventory was net of obsolescence reserves totaling $26 million at September 30, 2015, and $20 million at December 31, 2014.

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues	$ 3,681	$ 5,696	$ 12,082	$ 16,203
Cost of sales:
Production and delivery	2,893	3,152	8,653	8,971
Depreciation, depletion and amortization	888	945	2,717	2,924
Impairment of oil and gas properties	3,652	308	9,442	308
Total cost of sales	7,433	4,405	20,812	12,203
Selling, general and administrative expenses	124	158	429	457
Mining exploration and research expenses	32	29	101	93
Environmental obligations and shutdown costs	37	18	61	100
Net gain on sales of assets	0	(46)	(39)	(46)
Total costs and expenses	7,626	4,564	21,364	12,807
Operating (loss) income	(3,945)	1,132	(9,282)	3,396
Interest expense, net	(163)	(158)	(458)	(483)
Insurance and other third-party recoveries	0	0	92	0
Net gain on early extinguishment of debt	0	58	0	63
Other (expense) income, net	(40)	23	(88)	48
(Loss) income before income taxes and equity in affiliated companies' net losses	(4,148)	1,055	(9,736)	3,024
Benefit from (provision for) income taxes	360	(349)	1,742	(1,034)
Equity in affiliated companies’ net losses	(2)	(2)	(1)	0
Net (loss) income	(3,790)	704	(7,995)	1,990
Net income attributable to noncontrolling interests	(29)	(142)	(129)	(416)
Preferred dividends attributable to redeemable noncontrolling interest	(11)	(10)	(31)	(30)
Net (loss) income attributable to common stockholders	$ (3,830)	$ 552	$ (8,155)	$ 1,544
Net (loss) income per share attributable to common stockholders:
Basic	$ (3.58)	$ 0.53	$ (7.77)	$ 1.48
Diluted	$ (3.58)	$ 0.53	$ (7.77)	$ 1.47
Weighted-average common shares outstanding:
Basic	1,071	1,039	1,050	1,039
Diluted	1,071	1,046	1,050	1,045
Dividends declared per share of common stock	$ 0.05	$ 0.3125	$ 0.2605	$ 0.9375

Consolidated Statements of Comp

Consolidated Statements of Comprehensive (Loss) Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net (loss) income	$ (3,790)	$ 704	$ (7,995)	$ 1,990
Defined benefit plans:
Amortization of unrecognized amounts included in net periodic benefit costs	8	5	24	12
Foreign exchange gains (losses)	7	2	12	(1)
Other comprehensive income	15	7	36	11
Total comprehensive (loss) income	(3,775)	711	(7,959)	2,001
Total comprehensive income attributable to noncontrolling interests	(30)	(142)	(130)	(416)
Preferred dividends attributable to redeemable noncontrolling interest	(11)	(10)	(31)	(30)
Total comprehensive (loss) income attributable to common stockholders	$ (3,816)	$ 559	$ (8,120)	$ 1,555

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flow from operating activities:
Net (loss) income	$ (7,995)	$ 1,990
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation, depletion and amortization	2,717	2,924
Impairment of oil and gas properties	9,442	308
Inventory adjustments	154	0
Net gain on sales of assets	(39)	(46)
Net (gains) losses on crude oil and natural gas derivative contracts	(87)	56
Net charges for environmental and asset retirement obligations, including accretion	174	146
Payments for environmental and asset retirement obligations	(135)	(134)
Net gain on early extinguishment of debt	0	(63)
Deferred income taxes	(1,926)	107
Increase in long-term mill and leach stockpiles	(183)	(182)
Other, net	144	106
Changes in working capital and other tax payments, excluding amounts from acquisitions and dispositions:
Accounts receivable	990	200
Inventories	83	(267)
Other current assets	(13)	(26)
Accounts payable and accrued liabilities	(150)	(379)
Accrued income taxes and changes in other tax payments	(568)	(227)
Net cash provided by operating activities	2,608	4,513
Capital expenditures:
North America copper mines	(308)	(815)
South America	(1,339)	(1,278)
Indonesia	(660)	(722)
Africa	(166)	(100)
Molybdenum mines	(10)	(45)
United States oil and gas operations	(2,430)	(2,392)
Other	(142)	(63)
Acquisitions of Deepwater Gulf of Mexico interests	0	(1,421)
Net proceeds from sale of Eagle Ford shale assets	0	2,971
Other, net	114	221
Net cash used in investing activities	(4,941)	(3,644)
Cash flow from financing activities:
Proceeds from debt	6,552	3,346
Repayments of debt	(4,693)	(4,196)
Net proceeds from sale of common Stock	999	0
Cash dividends and distributions paid:
Common stock	(547)	(979)
Noncontrolling interests	(89)	(365)
Stock-based awards net (payments) proceeds, including excess tax benefit	(8)	7
Debt financing costs and other, net	(7)	(9)
Net cash provided by (used in) financing activities	2,207	(2,196)
Net decrease in cash and cash equivalents	(126)	(1,327)
Cash and cash equivalents at beginning of year	464	1,985
Cash and cash equivalents at end of period	$ 338	$ 658

Consolidated Statement of Equit

Consolidated Statement of Equity (Unaudited) - 9 months ended Sep. 30, 2015 - USD ($) shares in Millions, $ in Millions	Total	Total FCX Stockholders' Equity [Member]	Common Stock [Member]	Capital in Excess of Par Value [Member]	Retained Earnings (Accumulated Deficit) [Member]	Accumulated Other Comprehensive Loss [Member]	Common Stock Held in Treasury [Member]	Noncontrolling Interests [Member]
Balance at Dec. 31, 2014	$ 22,474	$ 18,287	$ 117	$ 22,281	$ 128	$ (544)	$ (3,695)	$ 4,187
Balance (in shares) at Dec. 31, 2014			1,167				128
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Sale of common stock	$ 999	999	$ 10	989	0	0	$ 0	0
Sale of common stock (in shares)	98		98				0
Exercised and issued stock-based awards	$ 3	3	$ 0	3	0	0	$ 0	0
Exercised and issued stock-based awards (in shares)			1				0
Stock-based compensation	77	70	$ 0	70	0	0	$ 0	7
Reserve of tax benefit for stock-based awards	(4)	(4)	0	(4)	0	0	0	0
Tender of shares for stock-based awards	(7)	(7)	$ 0	0	0	0	$ (7)	0
Tender of shares for stock-based awards (in shares)			0				0
Dividends on common stock	(278)	(278)	$ 0	0	(278)	0	$ 0	0
Dividends to noncontrolling interests	(68)	0	0	0	0	0	0	(68)
Noncontrolling interests' share of contributed capital in subsidiary	(1)	(4)	0	(4)	0	0	0	3
Net loss attributable to common stockholders	(8,155)	(8,155)	0	0	(8,155)	0	0	0
Net income attributable to noncontrolling interests	129	0	0	0	0	0	0	129
Other comprehensive income	36	35	0	0	0	35	0	1
Balance at Sep. 30, 2015	$ 15,205	$ 10,946	$ 127	$ 23,335	$ (8,305)	$ (509)	$ (3,702)	$ 4,259
Balance (in shares) at Sep. 30, 2015			1,266				128

General Information (Unaudited)

General Information (Unaudited)	9 Months Ended
	Sep. 30, 2015
General Information [Abstract]
General Information	GENERAL INFORMATION The accompanying unaudited consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and do not include all information and disclosures required by generally accepted accounting principles (GAAP) in the United States (U.S.). Therefore, this information should be read in conjunction with Freeport-McMoRan Inc.'s (FCX) consolidated financial statements and notes contained in its annual report on Form 10-K for the year ended December 31, 2014. The information furnished herein reflects all adjustments that are, in the opinion of management, necessary for a fair statement of the results for the interim periods reported. With the exception of the oil and gas properties impairment discussed below and the related tax charges to establish a deferred tax valuation allowance (refer to Note 5 ), the Tyrone mine impairment and special retirement benefits and restructuring charges discussed below, and adjustments to inventories (refer to Note 4 ), all such adjustments are, in the opinion of management, of a normal recurring nature. Operating results for the quarter and nine months ended September 30, 2015 , are not necessarily indicative of the results that may be expected for the year ending December 31, 2015 . Oil and Gas Properties. Under the U.S. Securities and Exchange Commission's (SEC) full cost accounting rules, FCX reviews the carrying value of its oil and gas properties each quarter on a country-by-country basis. Under these rules, capitalized costs of oil and gas properties (net of accumulated depreciation, depletion, amortization and impairment, and related deferred income taxes) for each cost center may not exceed a “ceiling” equal to: • the present value, discounted at 10 percent , of estimated future net cash flows from the related proved oil and natural gas reserves, net of estimated future income taxes; plus • the cost of the related unproved properties not being amortized; plus • the lower of cost or estimated fair value of the related unproved properties included in the costs being amortized (net of related tax effects). These rules require that FCX price its future oil and gas production at the twelve-month average of the first-day-of-the-month historical reference prices as adjusted for location and quality differentials. FCX's reference prices are West Texas Intermediate (WTI) for oil and the Henry Hub spot price for natural gas. Such prices are utilized except where different prices are fixed and determinable from applicable contracts for the remaining term of those contracts. The reserve estimates exclude the effect of any crude oil derivatives FCX has in place. The estimated future net cash flows also exclude future cash outflows associated with settling asset retirement obligations included in the net book value of the oil and gas properties. The rules require an impairment if the capitalized costs exceed this “ceiling.” At September 30, 2015, and for the previous two quarters of 2015, net capitalized costs with respect to FCX's proved oil and gas properties exceeded the related ceiling test limitation; therefore, impairment charges of $3.7 billion in third-quarter 2015 and $9.4 billion for the first nine months of 2015 were recorded, primarily because of the lower twelve-month average of the first-day-of-the-month historical reference oil price and additional capitalized costs. The SEC requires that the twelve-month average of the first-day-of-the-month historical reference oil price be used in determining the ceiling amount under its full cost accounting rules. The twelve-month average price (using WTI as the reference oil price) was $59.21 per barrel at September 30, 2015 , compared with $71.68 per barrel at June 30, 2015. FCX periodically (and at least annually) assesses the carrying value of its unevaluated properties to determine whether impairment has occurred. Following a review of the carrying values of unevaluated properties during third-quarter 2015, FCX determined that the carrying value of its unevaluated properties in the onshore California area was impaired, primarily resulting from declines in oil prices. As a result, $837 million of costs were transferred to the full cost pool, which was included in the September 30, 2015, ceiling test discussed above. The fair value estimates for the unevaluated properties in the onshore California area were based on expected future cash flows based on estimated crude oil and natural gas forward prices as of September 30, 2015; risk adjusted probable and possible reserve quantities; costs to produce and develop reserves; and appropriate discount rates. Crude oil prices and FCX's estimates of oil reserves at September 30, 2015, represented the most significant assumptions used in the evaluation of the carrying value of these unevaluated properties. Mining Operations. Because of the recent decline in commodity prices, FCX made adjustments to its operating plans for its mining operations in third-quarter 2015 . Although FCX’s long-term strategy of developing its mining resources to their full potential remains in place, the decline in copper and molybdenum prices has limited FCX’s ability to invest in growth projects and caused FCX to make adjustments to its near-term plans. FCX responded to the decline in commodity prices by revising its near-term strategy to protect liquidity while preserving its mineral resources and growth options for the longer term. Accordingly, operating plans were revised primarily to reflect: (a) suspension of mining operations at the Miami mine in Arizona; (b) a 50 percent reduction in mining rates at the Tyrone mine in New Mexico; (c) adjustments to mining rates at other North America copper mines; (d) an approximate 50 percent reduction in mining and stacking rates at the El Abra mine in Chile; (e) a 35 percent reduction in molybdenum production volumes at the Henderson primary molybdenum mine in Colorado; (f) capital cost reductions, including project deferrals associated with future development and expansion opportunities at the Tenke Fungurume minerals district in the Democratic Republic of Congo in Africa; and (g) reductions in operating, administrative and exploration costs, including workforce reductions. During October 2015, FCX initiated a plan to reduce operating rates at its Sierrita mine in Arizona in response to low copper and molybdenum prices. Initially, the plan involves operating the Sierrita mine at 50 percent of its current operating rate. FCX is also evaluating the economics of a full shutdown. In connection with the decline in copper and molybdenum prices and the revised operating plans discussed above, FCX evaluated its long-lived assets, other than indefinite-lived intangible assets, for impairment as of September 30, 2015 . Indefinite-lived intangible assets are evaluated annually as of December 31. FCX’s long-lived asset impairment evaluations required FCX to make several assumptions in determining estimates of future cash flows of its individual mining operations, including: near- and long-term metal price assumptions; estimates of commodity-based and other input costs; proven and probable mineral reserves estimates, including the timing and costs to develop and produce the reserves; and the use of appropriate current escalation and discount rates. Projected long-term average metal prices represented the most significant assumption used in the cash flow estimates. FCX’s evaluation of long-lived assets (other than indefinite-lived intangible assets) resulted in the recognition of a charge to production costs for the impairment of the Tyrone mine totaling $59 million in third-quarter 2015 . As a result of the third-quarter 2015 revisions to its operating plans, FCX also recorded charges to production costs of $36 million in third-quarter 2015 related to special retirement benefits and restructuring charges, primarily for employee severance and benefit costs. Refer to Note 10 for long-lived asset impairments and restructuring charges by business segment.

Acquisitions and Dispositions (

Acquisitions and Dispositions (Unaudited) (Notes)	9 Months Ended
	Sep. 30, 2015
Acquisitions and Dispositions [Abstract]
Business Combination Disclosure [Text Block]	ACQUISITIONS AND DISPOSITIONS Eagle Ford Disposition. On June 20, 2014 , FCX completed the sale of its Eagle Ford shale assets to a subsidiary of Encana Corporation for cash consideration of $3.1 billion , before closing adjustments from the April 1, 2014 , effective date. Under full cost accounting rules, the proceeds were recorded as a reduction of capitalized oil and gas properties, with no gain or loss recognition, except for $62 million of deferred tax expense recorded through September 30, 2014, in connection with the allocation of $221 million of goodwill (for which deferred taxes were not previously provided) to the Eagle Ford shale assets. Approximately $1.3 billion of proceeds from this transaction was placed in a like-kind exchange escrow and was used to reinvest in additional Deepwater Gulf of Mexico (GOM) oil and gas interests, as discussed below and in Note 2 of FCX's annual report on Form 10-K for the year ended December 31, 2014 . The remaining proceeds were used to repay debt. Deepwater GOM Acquisitions. On June 30, 2014 , FCX completed the acquisition of interests in the Deepwater GOM from a subsidiary of Apache Corporation, including interests in the Lucius and Heidelberg oil fields and several exploration leases, for $918 million ( $451 million for oil and gas properties subject to amortization and $477 million for costs not subject to amortization, including transaction costs and $10 million of asset retirement costs). The Deepwater GOM acquisition was funded by the like-kind exchange escrow. On September 8, 2014 , FCX completed the acquisition of additional Deepwater GOM interests for $496 million ( $509 million for oil and gas properties not subject to amortization, including purchase price adjustments and transaction costs), including an interest in the Vito oil discovery in the Mississippi Canyon area and a significant lease position in the Vito basin area. This acquisition was funded in part with the remaining $414 million of funds from the like-kind exchange escrow.

Earnings Per Share (Unaudited)

Earnings Per Share (Unaudited)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE FCX’s basic net (loss) income per share of common stock was computed by dividing net (loss) income attributable to common stockholders by the weighted-average shares of common stock outstanding during the period. Diluted net income per share of common stock was computed using the most dilutive of (a) the two-class method or (b) the treasury stock method. Under the two-class method, net income is allocated to each class of common stock and participating securities as if all of the earnings for the period had been distributed. FCX’s participating securities consist of vested restricted stock units (RSUs) for which the underlying common shares are not yet issued and entitle holders to non-forfeitable dividends. A reconciliation of net (loss) income and weighted-average shares of common stock outstanding for purposes of calculating basic and diluted net (loss) income per share follows (in millions, except per share amounts): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Net (loss) income $ (3,790 ) $ 704 $ (7,995 ) $ 1,990 Net income attributable to noncontrolling interests (29 ) (142 ) (129 ) (416 ) Preferred dividends on redeemable noncontrolling interest (11 ) (10 ) (31 ) (30 ) Undistributed earnings allocable to participating securities (3 ) (2 ) (3 ) (4 ) Net (loss) income allocable to common stockholders $ (3,833 ) $ 550 $ (8,158 ) $ 1,540 Basic weighted-average shares of common stock outstanding 1,071 1,039 1,050 1,039 Add shares issuable upon exercise or vesting of dilutive stock options and RSUs — a 7 a — a 6 a Diluted weighted-average shares of common stock outstanding 1,071 1,046 1,050 1,045 Basic net (loss) income per share attributable to common stockholders $ (3.58 ) $ 0.53 $ (7.77 ) $ 1.48 Diluted net (loss) income per share attributable to common stockholders $ (3.58 ) $ 0.53 $ (7.77 ) $ 1.47 a. Excludes approximately 7 million shares of common stock for third-quarter 2015 , 5 million for third-quarter 2014 , 10 million for the nine months ended September 30, 2015 , and 3 million for the nine months ended September 30, 2014 , associated with outstanding stock options with exercise prices less than the average market price of FCX's common stock and RSUs that were anti-dilutive. Outstanding stock options with exercise prices greater than the average market price of FCX’s common stock during the period are excluded from the computation of diluted net income per share of common stock. Excluded stock options totaled 48 million for third-quarter 2015 , 25 million for third-quarter 2014 , 45 million for the nine months ended September 30, 2015 , and 28 million for the nine months ended September 30, 2014 .

Inventories, Including Long-Ter

Inventories, Including Long-Term Mill and Leach Stockpiles (Unaudited)	9 Months Ended
	Sep. 30, 2015
Inventories, Including Long Term Mill and Leach Stockpiles [Abstract]
Inventories, Including Long-Term Mill and Leach Stockpiles	INVENTORIES, INCLUDING LONG-TERM MILL AND LEACH STOCKPILES The components of inventories follow (in millions): September 30, December 31, 2014 Current inventories: Total materials and supplies, net a $ 2,071 $ 1,886 Mill stockpiles $ 118 $ 86 Leach stockpiles 1,777 1,828 Total current mill and leach stockpiles $ 1,895 $ 1,914 Raw materials (primarily concentrates) $ 281 $ 288 Work-in-process 102 174 Finished goods 996 1,099 Total product inventories $ 1,379 $ 1,561 Long-term inventories: Mill stockpiles $ 444 $ 360 Leach stockpiles 1,882 1,819 Total long-term mill and leach stockpiles b $ 2,326 $ 2,179 a. Materials and supplies inventory was net of obsolescence reserves totaling $26 million at September 30, 2015 , and $20 million at December 31, 2014 . b. Estimated metals in stockpiles not expected to be recovered within the next 12 months. Beginning in third-quarter 2015, FCX adopted new accounting guidance for the subsequent measurement of inventories (refer to Note 12 ), which resulted in a change in accounting principle, whereby inventories are stated at the lower of weighted-average cost or net realizable value. Prior to third-quarter 2015, FCX's inventories were stated at the lower of weighted-average cost or market. FCX recorded charges to production costs for adjustments to inventory carrying values of $91 million ( $37 million for molybdenum inventories and $54 million for copper inventories) for third-quarter 2015 and $154 million ( $89 million for molybdenum inventories and $65 million for copper inventories) for the first nine months of 2015 , primarily because of lower molybdenum and copper prices (refer to Note 10 for inventory adjustments by business segment).

Income Taxes (Unaudited)

Income Taxes (Unaudited)	9 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES Variations in the relative proportions of jurisdictional income result in fluctuations to FCX's consolidated effective income tax rate. FCX’s consolidated effective income tax rate was 18 percent for the first nine months of 2015 and 34 percent for the first nine months of 2014 . Geographic sources of FCX's benefit from (provision for) income taxes follow (in millions): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 U.S. operations $ 309 a $ (38 ) $ 2,020 a $ (323 ) b International operations 51 (311 ) c (278 ) (711 ) c Total $ 360 $ (349 ) $ 1,742 $ (1,034 ) a. As a result of the impairment to U.S. oil and gas properties, FCX recorded tax charges of $1.2 billion for third-quarter 2015 and $2.0 billion for the first nine months of 2015 to establish a valuation allowance primarily against U.S. federal alternative minimum tax credits and foreign tax credits, partly offset by a tax benefit of $56 million related to the impairment of the Morocco oil and gas properties. Excluding these charges, FCX's consolidated effective income tax rate was 38 percent for the first nine months of 2015. b. FCX recognized a $62 million charge for deferred taxes recorded in connection with the allocation of goodwill to the sale of Eagle Ford shale assets. c. Included a $54 million charge related to changes in Chilean tax rules. During third-quarter 2015, PT Freeport Indonesia's (PT-FI) Delaware domestication was terminated. As a result, PT-FI will no longer be a U.S. income tax filer, and tax attributes related to PT-FI, which currently are fully reserved with a related valuation allowance, will no longer be available for use within FCX's U.S. federal consolidated income tax return. PT-FI remains a limited liability company organized under Indonesian law.

Debt and Equity Transactions (U

Debt and Equity Transactions (Unaudited)	9 Months Ended
	Sep. 30, 2015
Debt and Equity Transactions [Abstract]
Debt and Equity Transactions	DEBT AND EQUITY TRANSACTIONS Debt Transactions. At September 30, 2015 , FCX had $20.7 billion in debt, which included additions for unamortized fair value adjustments of $218 million (primarily from the oil and gas acquisitions in 2013), and is net of reductions attributable to unamortized net discounts of $20 million and unamortized debt issuance costs of $111 million . Refer to Note 12 for discussion of a change in the presentation of debt issuance costs. In February 2015, FCX's unsecured revolving credit facility and $4.0 billion bank term loan (Term Loan) were modified to amend the maximum total leverage ratio. In addition, the Term Loan amortization schedule was extended such that, as amended, the Term Loan’s scheduled payments total $205 million in 2016, $272 million in 2017, $1.0 billion in 2018, $313 million in 2019 and $1.3 billion in 2020, compared with the previous amortization schedule of $650 million in 2016, $200 million in 2017 and $2.2 billion in 2018. At September 30, 2015 , $458 million was outstanding and $42 million of letters of credit were issued under FCX's revolving credit facility, resulting in availability of approximately $3.5 billion , of which approximately $1.5 billion could be used for additional letters of credit. At September 30, 2015 , $1.5 billion was outstanding and no letters of credit were issued under Sociedad Minera Cerro Verde S.A.A.'s (Cerro Verde, FCX's mining subsidiary in Peru) credit facility, resulting in availability of $301 million . Cerro Verde's five -year, $1.8 billion senior unsecured credit facility is nonrecourse to FCX and the other shareholders of Cerro Verde. In December 2014, Cerro Verde entered into a loan agreement with its shareholders for borrowings up to $800 million . Cerro Verde can designate all or a portion of the shareholder loans as subordinated. If the loans are not designated as subordinated, they bear interest at the London Interbank Offered Rate plus the current spread on Cerro Verde’s senior unsecured committed credit facility . If they are designated as subordinated, they bear interest at the same rate plus 0.5 percent . The loans mature on December 22, 2019 , unless at that time there is senior financing associated with the Cerro Verde expansion project that is senior to the shareholder loans, in which case the shareholder loans mature two years following the maturity of the senior financing. During third-quarter 2015, Cerro Verde borrowed $100 million under these shareholder loans (which included $57 million from Freeport Minerals Corporation, a wholly owned subsidiary of FCX), and this amount remained outstanding as of September 30, 2015 . In July 2014, FCX redeemed $1.7 billion of the aggregate principal amount of FCX Oil & Gas Inc.'s (FM O&G, FCX's oil and gas subsidiary) outstanding senior notes, which included $263 million for the 6.125% Senior Notes due 2019, $525 million for the 6½% Senior Notes due 2020, $350 million for the 6.75% Senior Notes due 2022 and $525 million for the 6⅞% Senior Notes due 2023. At the redemption date, these senior notes had an aggregate book value of $1.8 billion , which included purchase accounting fair value adjustments of $167 million . Holders of these senior notes received the principal amount together with the redemption premium and accrued and unpaid interest to the redemption date. As a result of these redemptions, FCX recorded a gain on early extinguishment of debt of $58 million in third-quarter 2014. In April 2014, FCX redeemed $210 million of the aggregate principal amount of FM O&G's outstanding 6.625% Senior Notes due 2021. Holders of these senior notes received the principal amount together with the redemption premium and accrued and unpaid interest to the redemption date. As a result of the redemption, FCX recorded a gain on early extinguishment of debt of $6 million in second-quarter 2014. In accordance with the terms of the senior notes, the April 2014 and July 2014 redemptions were funded with cash contributions to FM O&G by FCX in exchange for additional equity, which is eliminated in the consolidated financial statements. Consolidated interest expense (excluding capitalized interest) totaled $217 million in third-quarter 2015 , $212 million in third-quarter 2014 , $642 million for the first nine months of 2015 and $661 million for the first nine months of 2014. Capitalized interest added to property, plant, equipment and mining development costs, net, totaled $42 million in third-quarter 2015 , $34 million in third-quarter 2014 , $134 million for the first nine months of 2015 and $113 million for the first nine months of 2014. Capitalized interest added to oil and gas properties not subject to amortization totaled $12 million in third-quarter 2015 , $20 million in third-quarter 2014 , $50 million for the first nine months of 2015 and $65 million for the first nine months of 2014. Equity Transactions. In September 2015, FCX completed a $1.0 billion at-the-market equity program and announced an additional $1.0 billion at-the-market equity program. Through September 30, 2015 , FCX sold 97.5 million shares of its common stock at an average price of $10.35 per share under these programs, which generated gross proceeds of $1.01 billion (net proceeds of $1.00 billion after commissions of $10 million and expenses). From October 1, 2015, through November 5, 2015, FCX sold 34.1 million shares of its common stock at an average price of $12.15 per share, which generated gross proceeds of $414 million (net proceeds of $410 million after commissions of $4 million and expenses). FCX used the net proceeds for general corporate purposes, including the repayment of amounts outstanding under its revolving credit facility and other borrowings, and the financing of working capital and capital expenditures. At October 30, 2015, FCX had 1.2 billion shares of common stock outstanding. On September 30, 2015 , FCX's Board of Directors (the Board) declared a dividend of $0.05 per share, which was paid on November 2, 2015 , to common shareholders of record at the close of business on October 15, 2015 .

Financial Instruments (Unaudite

Financial Instruments (Unaudited)	9 Months Ended
	Sep. 30, 2015
Financial Instruments [Abstract]
Financial Instruments	FINANCIAL INSTRUMENTS FCX does not purchase, hold or sell derivative financial instruments unless there is an existing asset or obligation, or it anticipates a future activity that is likely to occur and will result in exposure to market risks, which FCX intends to offset or mitigate. FCX does not enter into any derivative financial instruments for speculative purposes, but has entered into derivative financial instruments in limited instances to achieve specific objectives. These objectives principally relate to managing risks associated with commodity price changes, foreign currency exchange rates and interest rates. Commodity Contracts. From time to time, FCX has entered into derivative contracts to hedge the market risk associated with fluctuations in the prices of commodities it purchases and sells. As a result of the acquisition of the oil and gas business in 2013, FCX assumed a variety of crude oil and natural gas commodity derivatives to hedge the exposure to the volatility of crude oil and natural gas commodity prices. Derivative financial instruments used by FCX to manage its risks do not contain credit risk-related contingent provisions. As of September 30, 2015 , and December 31, 2014 , FCX had no price protection contracts relating to its mine production. A discussion of FCX’s derivative contracts and programs follows. Derivatives Designated as Hedging Instruments – Fair Value Hedges Copper Futures and Swap Contracts. Some of FCX’s U.S. copper rod customers request a fixed market price instead of the Commodity Exchange Inc. (COMEX), a division of the New York Mercantile Exchange, average copper price in the month of shipment. FCX hedges this price exposure in a manner that allows it to receive the COMEX average price in the month of shipment while the customers pay the fixed price they requested. FCX accomplishes this by entering into copper futures or swap contracts. Hedging gains or losses from these copper futures and swap contracts are recorded in revenues. FCX did not have any significant gains or losses during the quarters or nine months ended September 30, 2015 and 2014 , resulting from hedge ineffectiveness. At September 30, 2015 , FCX held copper futures and swap contracts that qualified for hedge accounting for 59 million pounds at an average contract price of $2.46 per pound, with maturities through September 2017 . A summary of gains (losses) recognized in revenues for derivative financial instruments related to commodity contracts that are designated and qualify as fair value hedge transactions, along with the unrealized gains (losses) on the related hedged item follows (in millions): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Copper futures and swap contracts: Unrealized gains (losses): Derivative financial instruments $ (2 ) $ (10 ) $ — $ (10 ) Hedged item – firm sales commitments 2 10 — 10 Realized (losses) gains: Matured derivative financial instruments (12 ) 1 (23 ) (3 ) Derivatives Not Designated as Hedging Instruments Embedded Derivatives. As described in Note 1 to FCX's annual report on Form 10-K for the year ended December 31, 2014, under “Revenue Recognition,” certain FCX copper concentrate, copper cathode and gold sales contracts provide for provisional pricing primarily based on the London Metal Exchange (LME) copper price or the COMEX copper price and the London Bullion Market Association (London) gold price at the time of shipment as specified in the contract. Similarly, FCX purchases copper under contracts that provide for provisional pricing. FCX applies the normal purchases and normal sales scope exception in accordance with derivatives and hedge accounting guidance to the host sales agreements since the contracts do not allow for net settlement and always result in physical delivery. Sales and purchases with a provisional sales price contain an embedded derivative ( i.e. , the price settlement mechanism is settled after the time of delivery) that is required to be bifurcated from the host contract. The host contract is the sale or purchase of the metals contained in the concentrates or cathodes at the then-current LME or COMEX copper price or the London gold price as defined in the contract. Mark-to-market price fluctuations from these embedded derivatives are recorded through the settlement date and are reflected in revenues for sales contracts and in cost of sales as production and delivery costs for purchase contracts. A summary of FCX’s embedded commodity derivatives at September 30, 2015 , follows: Open Positions Average Price Per Unit Maturities Through Contract Market Embedded derivatives in provisional sales contracts: Copper (millions of pounds) 536 $ 2.45 $ 2.34 March 2016 Gold (thousands of ounces) 149 1,125 1,118 December 2015 Embedded derivatives in provisional purchase contracts: Copper (millions of pounds) 87 2.45 2.35 January 2016 Crude Oil Contracts. As a result of the acquisition of the oil and gas business, FCX has derivative contracts extending through 2015 that consist of crude oil options. These crude oil derivatives are not designated as hedging instruments and are recorded at fair value with the mark-to-market gains and losses recorded in revenues. The crude oil options were entered into by the oil and gas business to protect the realized price of a portion of expected future sales in order to limit the effects of crude oil price decreases. At September 30, 2015 , these contracts are composed of crude oil put spreads consisting of put options with a floor limit. The premiums associated with put options are deferred until the settlement period. At September 30, 2015 , the deferred option premiums and accrued interest associated with the crude oil option contracts totaled $53 million , which was included as a component of the fair value of the crude oil options contracts. At September 30, 2015 , the outstanding 2015 crude oil option contracts, which settle monthly and cover approximately 7.7 million barrels over the remainder of 2015, follow: Daily Volumes (thousand barrels) Average Strike Price (per barrel) a Weighted-Average Deferred Premium (per barrel) 2015 Period Instrument Type Floor Floor Limit Index October - December Put options b 84 $ 90 $ 70 $ 6.89 Brent a. The average strike prices do not reflect any premiums to purchase the put options. b. If the index price is less than the per barrel floor, FCX receives the difference between the per barrel floor and the index price up to a maximum of $20 per barrel less the option premium. If the index price is at or above the per barrel floor, FCX pays the option premium and no cash settlement is received. Copper Forward Contracts. Atlantic Copper, FCX's wholly owned smelting and refining unit in Spain, enters into copper forward contracts designed to hedge its copper price risk whenever its physical purchases and sales pricing periods do not match. These economic hedge transactions are intended to hedge against changes in copper prices, with the mark-to-market hedging gains or losses recorded in cost of sales. At September 30, 2015 , Atlantic Copper held net copper forward sales contracts for 4 million pounds at an average contract price of $2.31 per pound, with maturities through November 2015 . Summary of (Losses) Gains. A summary of the realized and unrealized (losses) gains recognized in (loss) income before income taxes and equity in affiliated companies’ net earnings for commodity contracts that do not qualify as hedge transactions, including embedded derivatives, follows (in millions): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Embedded derivatives in provisional copper and gold sales contracts a $ (170 ) $ (99 ) $ (320 ) $ (184 ) Crude oil options a 29 57 87 (47 ) Natural gas swaps a — 7 — (9 ) Copper forward contracts b (8 ) (4 ) (15 ) 1 a. Amounts recorded in revenues. b. Amounts recorded in cost of sales as production and delivery costs. Unsettled Derivative Financial Instruments A summary of the fair values of unsettled commodity derivative financial instruments follows (in millions): September 30, December 31, 2014 Commodity Derivative Assets: Derivatives designated as hedging instruments: Copper futures and swap contracts a $ 1 $ — Derivatives not designated as hedging instruments: Embedded derivatives in provisional copper and gold sales/purchase contracts 17 15 Crude oil options b 101 316 Total derivative assets $ 119 $ 331 Commodity Derivative Liabilities: Derivatives designated as hedging instruments: Copper futures and swap contracts a $ 8 $ 7 Derivatives not designated as hedging instruments: Embedded derivatives in provisional copper and gold sales/purchase contracts 69 93 Total derivative liabilities $ 77 $ 100 a. FCX paid $16 million to brokers at September 30, 2015 , and $10 million at December 31, 2014 , for margin requirements (recorded in other current assets). b. Amounts are net of $53 million at September 30, 2015 , and $210 million at December 31, 2014 , for deferred premiums and accrued interest. FCX's commodity contracts have netting arrangements with counterparties with which the right of offset exists, and it is FCX's policy to offset balances by counterparty on its balance sheet. FCX's embedded derivatives on provisional sales/purchases are netted with the corresponding outstanding receivable/payable balances. A summary of these unsettled commodity contracts that are offset in the balance sheet follows (in millions): Assets Liabilities September 30, 2015 December 31, 2014 September 30, 2015 December 31, 2014 Gross amounts recognized: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts $ 17 $ 15 $ 69 $ 93 Crude oil derivatives 101 316 — — Copper derivatives 1 — 8 7 119 331 77 100 Less gross amounts of offset: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts 2 1 2 1 Crude oil derivatives — — — — Copper derivatives 1 — 1 — 3 1 3 1 Net amounts presented in balance sheet: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts 15 14 67 92 Crude oil derivatives 101 316 — — Copper derivatives — — 7 7 $ 116 $ 330 $ 74 $ 99 Balance sheet classification: Trade accounts receivable $ 6 $ 5 $ 50 $ 56 Other current assets 101 316 — — Accounts payable and accrued liabilities 9 9 24 43 $ 116 $ 330 $ 74 $ 99 Credit Risk. FCX is exposed to credit loss when financial institutions with which FCX has entered into derivative transactions (commodity, foreign exchange and interest rate swaps) are unable to pay. To minimize the risk of such losses, FCX uses counterparties that meet certain credit requirements and periodically reviews the creditworthiness of these counterparties. FCX does not anticipate that any of the counterparties it deals with will default on their obligations. As of September 30, 2015 , the maximum amount of credit exposure associated with derivative transactions was $146 million . Other Financial Instruments. Other financial instruments include cash and cash equivalents, accounts receivable, restricted cash, investment securities, legally restricted funds, accounts payable and accrued liabilities, dividends payable and long-term debt. The carrying value for cash and cash equivalents (which included time deposits of $44 million at September 30, 2015 , and $48 million at December 31, 2014), accounts receivable, restricted cash, accounts payable and accrued liabilities, and dividends payable approximates fair value because of their short-term nature and generally negligible credit losses (refer to Note 8 for the fair values of investment securities, legally restricted funds and long-term debt).

Fair Value Measurement (Unaudit

Fair Value Measurement (Unaudited)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurement	FAIR VALUE MEASUREMENT Fair value accounting guidance includes a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 inputs) and the lowest priority to unobservable inputs (Level 3 inputs). FCX recognizes transfers between levels at the end of the reporting period. FCX did not have any significant transfers in or out of Level 1, 2 or 3 for third -quarter 2015 . A summary of the carrying amount and fair value of FCX’s financial instruments, other than cash and cash equivalents, accounts receivable, restricted cash, accounts payable and accrued liabilities, and dividends payable (refer to Note 7 ), follows (in millions): At September 30, 2015 Carrying Fair Value Amount Total Level 1 Level 2 Level 3 Assets Investment securities: a,b U.S. core fixed income fund $ 23 $ 23 $ — $ 23 $ — Money market funds 22 22 22 — — Equity securities 3 3 3 — — Total 48 48 25 23 — Legally restricted funds: a,b,c,d U.S. core fixed income fund 52 52 — 52 — Government bonds and notes 41 41 — 41 — Government mortgage-backed securities 28 28 — 28 — Corporate bonds 26 26 — 26 — Asset-backed securities 12 12 — 12 — Collateralized mortgage-backed securities 8 8 — 8 — Money market funds 4 4 4 — — Municipal bonds 1 1 — 1 — Total 172 172 4 168 — Derivatives: a,e Embedded derivatives in provisional sales/purchase contracts in a gross asset position 17 17 — 17 — Crude oil options 101 101 — — 101 Copper futures and swap contracts 1 1 1 — — Total 119 119 1 17 101 Total assets $ 339 $ 30 $ 208 $ 101 Liabilities Derivatives: a,e Embedded derivatives in provisional sales/purchase contracts in a gross liability position $ 69 $ 69 $ — $ 69 $ — Copper futures and swap contracts 8 8 7 1 — Total 77 77 7 70 — Long-term debt, including current portion f 20,698 17,291 — 17,291 — Total liabilities $ 17,368 $ 7 $ 17,361 $ — At December 31, 2014 Carrying Fair Value Amount Total Level 1 Level 2 Level 3 Assets Investment securities: a,b U.S. core fixed income fund $ 23 $ 23 $ — $ 23 $ — Money market funds 20 20 20 — — Equity securities 3 3 3 — — Total 46 46 23 23 — Legally restricted funds: a,b,c,d U.S. core fixed income fund 52 52 — 52 — Government bonds and notes 39 39 — 39 — Corporate bonds 27 27 — 27 — Government mortgage-backed securities 19 19 — 19 — Asset-backed securities 17 17 — 17 — Money market funds 11 11 11 — — Collateralized mortgage-backed securities 6 6 — 6 — Municipal bonds 1 1 — 1 — Total 172 172 11 161 — Derivatives: a,e Embedded derivatives in provisional sales/purchase contracts in a gross asset position 15 15 — 15 — Crude oil options 316 316 — — 316 Total 331 331 — 15 316 Total assets $ 549 $ 34 $ 199 $ 316 Liabilities Derivatives: a,e Embedded derivatives in provisional sales/purchase contracts in a gross liability position $ 93 $ 93 $ — $ 93 $ — Copper futures and swap contracts 7 7 6 1 — Total 100 100 6 94 — Long-term debt, including current portion f 18,849 18,735 — 18,735 — Total liabilities $ 18,835 $ 6 $ 18,829 $ — a. Recorded at fair value. b. Current portion included in other current assets and long-term portion included in other assets. c. Excludes time deposits (which approximated fair value) included in other assets of $117 million at September 30, 2015 , and $115 million at December 31, 2014 , associated with an assurance bond to support PT-FI's commitment for smelter development in Indonesia. d. Excludes time deposits (which approximated fair value) included in other current assets of $30 million at September 30, 2015 , associated with PT-FI's commitment for smelter development in Indonesia of $20 million and a reclamation guarantee at PT-FI of $10 million . Excludes time deposits of $17 million at December 31, 2014 , associated with a customs audit assessment at PT-FI of $9 million and a reclamation guarantee at PT-FI of $8 million . e. Refer to Note 7 for further discussion and balance sheet classifications. Crude oil options are net of $53 million at September 30, 2015 , and $210 million at December 31, 2014 , for deferred premiums and accrued interest. f. Recorded at cost except for debt assumed in acquisitions, which were recorded at fair value at the respective acquisition dates. Valuation Techniques Money market funds are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices in active markets. The U.S. core fixed income fund is valued at net asset value. The fund strategy seeks total return consisting of income and capital appreciation primarily by investing in a broad range of investment-grade debt securities, including U.S. government obligations, corporate bonds, mortgage-backed securities, asset-backed securities and money market instruments. There are no restrictions on redemptions (usually within one business day of notice) and, as such, this fund is classified within Level 2 of the fair value hierarchy. Fixed income securities (government securities, corporate bonds, asset-backed securities, collateralized mortgage-backed securities and municipal bonds) are valued using a bid evaluation price or a mid-evaluation price. A bid evaluation price is an estimated price at which a dealer would pay for a security. A mid-evaluation price is the average of the estimated price at which a dealer would sell a security and the estimated price at which a dealer would pay for a security. These evaluations are based on quoted prices, if available, or models that use observable inputs and, as such, are classified within Level 2 of the fair value hierarchy. Equity securities are valued at the closing price reported on the active market on which the individual securities are traded and, as such, are classified within Level 1 of the fair value hierarchy. FCX’s embedded derivatives on provisional copper concentrate, copper cathode and gold purchases and sales are valued using quoted monthly LME or COMEX copper forward prices and the London gold forward price at each reporting date based on the month of maturity (refer to Note 7 for further discussion); however, FCX's contracts themselves are not traded on an exchange. As a result, these derivatives are classified within Level 2 of the fair value hierarchy. FCX ' s derivative financial instruments for crude oil options are valued using an option pricing model, which uses various inputs including Intercontinental Exchange Holdings, Inc. crude oil prices, volatilities, interest rates and contract terms. Valuations are adjusted for credit quality, using the counterparties ' credit quality for asset balances and FCX ' s credit quality for liability balances (which considers the impact of netting agreements on counterparty credit risk, including whether the position with the counterparty is a net asset or net liability). For asset balances, FCX uses the credit default swap value for counterparties when available or the spread between the risk-free interest rate and the yield rate on the counterparties ' publicly traded debt for similar instruments . The crude oil options are classified within Level 3 of the fair value hierarchy because the inputs used in the valuation models are not observable for the full term of the instruments. The significant unobservable inputs used in the fair value measurement of the crude oil options are implied volatilities and deferred premiums. Significant increases (decreases) in implied volatilities in isolation would result in a significantly higher (lower) fair value measurement. The implied volatilities ranged from 38 percent to 66 percent , with a weighted average of 49 percent . The weighted-average cost of deferred premiums totals $6.89 per barrel at September 30, 2015 . Refer to Note 7 for further discussion of these derivative financial instruments . FCX’s derivative financial instruments for copper futures and swap contracts and copper forward contracts that are traded on the respective exchanges are classified within Level 1 of the fair value hierarchy because they are valued using quoted monthly COMEX or LME prices at each reporting date based on the month of maturity (refer to Note 7 for further discussion). Certain of these contracts are traded on the over-the-counter market and are classified within Level 2 of the fair value hierarchy based on COMEX and LME forward prices. Long-term debt, including the current portion, is valued using available market quotes and, as such, is classified within Level 2 of the fair value hierarchy. The techniques described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while FCX believes its valuation techniques are appropriate and consistent with other market participants, the use of different techniques or assumptions to determine fair value of certain financial instruments could result in a different fair value measurement at the reporting date. There have been no changes in the techniques used at September 30, 2015 . A summary of the changes in the fair value of FCX ' s most significant Level 3 instruments, crude oil options, follows (in millions): Crude Oil Options Fair value at December 31, 2014 $ 316 Net realized gains 50 a Net unrealized gains included in earnings related to assets and liabilities still held at the end of the period 36 Net settlement receipts (301 ) b Fair value at September 30, 2015 $ 101 a. Includes net realized gains of $51 million , partially offset by $1 million of interest expense associated with the deferred premiums. b. Includes interest payments of $3 million . Refer to Note 1 for a discussion of the fair value estimates utilized in the impairment assessments during third-quarter 2015. Fair values were determined based on inputs not observable in the market and thus represent Level 3 measurements.

Contingencies and Commitments (

Contingencies and Commitments (Unaudited)	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	CONTINGENCIES AND COMMITMENTS Litigation. During third-quarter 2015, there were no significant updates to previously reported legal proceedings included in Note 12 of FCX's annual report on Form 10-K for the year ended December 31, 2014, as updated in FCX's quarterly reports on Form 10-Q in Note 8 for the quarterly period ended March 31, 2015, and Note 9 for the quarterly period ended June 30, 2015. Tax and Other Matters. Cerro Verde Royalty Dispute and Other Tax Matters. There were no significant changes to the Cerro Verde royalty dispute or other Peruvian tax matters during third-quarter of 2015 (refer to Note 12 of FCX’s annual report on Form 10-K for the year ended December 31, 2014 , for further discussion of these matters). Indonesia Tax Matters. The following information includes a discussion of updates to previously reported Indonesia tax matters included in Note 12 of FCX’s annual report on Form 10-K for the year ended December 31, 2014, as updated in FCX's quarterly reports on Form 10-Q in Note 8 for the quarterly period ended March 31, 2015, and Note 9 for the quarterly period ended June 30, 2015. PT-FI received assessments from the local regional tax authority in Papua, Indonesia, for additional taxes and penalties related to water rights taxes for the period from January 2011 through September 2015. PT-FI has filed or will file objections to these assessments. The local government of Papua rejected PT-FI’s objections to the assessments related to the period from January 2011 through July 2015, and PT-FI filed appeals with the Indonesian tax court for periods through May 2015. The aggregate amount of all assessments received through October 31, 2015, including penalties, was 2.6 trillion Indonesian rupiah ( $177 million based on exchange rates at September 30, 2015). Additional penalties, which could be significant, may be assessed depending on the outcome of the appeals process. No amounts have been accrued for these assessments as of September 30, 2015, because PT-FI believes its Contract of Work (COW) exempts it from these payments and that it has the right to contest these assessments in the tax court and ultimately the Indonesian Supreme Court. Indonesia Mining Contract. The following information includes a discussion of updates to previously reported information on PT-FI's COW included in Note 13 of FCX’s annual report on Form 10-K for the year ended December 31, 2014, as updated in Note 13 of FCX's quarterly report on Form 10-Q for the quarterly period ended June 30, 2015. PT-FI has advanced discussions with the Indonesian government regarding its COW and long-term operating rights. The Indonesian government is currently developing economic stimulus measures, which include revisions to mining regulations, to promote economic and employment growth. In consideration of PT-FI's major investments, and prior and ongoing commitments to increase benefits to Indonesia, including previously agreed higher royalties, domestic processing, divestment and local content, the Indonesian government provided a letter of assurance to PT-FI in October 2015 indicating that it will approve the extension of PT-FI's operations beyond 2021, and provide the same rights and the same level of legal and fiscal certainty provided under its current COW.

Business Segments (Unaudited)

Business Segments (Unaudited)	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Business Segments	BUSINESS SEGMENTS FCX has organized its mining operations into five primary divisions – North America copper mines, South America mining, Indonesia mining, Africa mining and Molybdenum mines. Notwithstanding this structure, FCX internally reports information on a mine-by-mine basis for its mining operations. Therefore, FCX concluded that its operating segments include individual mines or operations relative to its mining operations. For oil and gas operations, FCX determines its operating segments on a country-by-country basis. Operating segments that meet certain thresholds are reportable segments, which are separately disclosed in the following table. Intersegment Sales. Intersegment sales between FCX’s mining operations are based on similar 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 divisions, including Atlantic Copper (FCX's wholly owned smelter and refinery in Spain) and on 25 percent of PT-FI's sales to PT Smelting (PT-FI's 25 percent -owned smelter and refinery in Indonesia), 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. Allocations. 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 segment information 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. Financial Information by Business Segments (In millions) Mining Operations North America Copper Mines South America Indonesia Africa Atlantic Other Corporate, Molyb- Copper Mining U.S. Other Other Cerro Other denum Rod & Smelting & Elimi- Total Oil & Gas & Elimi- FCX Morenci Mines Total Verde Mines a Total Grasberg Tenke Mines Refining & Refining nations Mining Operations nations Total Three Months Ended September 30, 2015 Revenues: Unaffiliated customers $ 165 $ 58 $ 223 $ 238 $ 187 $ 425 $ 557 b $ 299 $ — $ 946 $ 438 $ 267 c $ 3,155 $ 525 d $ 1 $ 3,681 Intersegment 332 614 946 13 — 13 52 29 83 5 1 (1,129 ) — — — — Production and delivery 357 671 1,028 e 177 167 e 344 417 209 86 e 946 410 (842 ) e 2,598 293 2 e 2,893 Depreciation, depletion and amortization 51 85 136 57 32 89 90 65 26 2 10 16 434 450 4 888 Impairment of oil and gas properties — — — — — — — — — — — — — 3,480 172 f 3,652 Selling, general and administrative expenses 1 — 1 1 — 1 24 2 — — 4 5 37 37 50 124 Mining exploration and research expenses — 1 1 — — — — — — — — 31 32 — — 32 Environmental obligations and shutdown costs — 3 3 — — — — — — — — 33 36 — 1 37 Operating income (loss) 88 (88 ) — 16 (12 ) 4 78 52 (29 ) 3 15 (105 ) 18 (3,735 ) (228 ) (3,945 ) Interest expense, net 1 — 1 — — — — — — — 3 19 23 51 89 163 Provision for (benefit from) income taxes — — — — 2 2 21 6 — — — — 29 — (389 ) (360 ) Total assets at September 30, 2015 3,720 5,159 8,879 9,136 1,843 10,979 8,965 5,100 2,017 235 699 1,326 38,200 11,911 272 50,383 Capital expenditures 61 33 94 421 16 437 222 69 3 1 10 10 846 635 g 46 1,527 Three Months Ended September 30, 2014 Revenues: Unaffiliated customers $ 140 $ 79 $ 219 $ 295 $ 441 $ 736 $ 1,086 b $ 379 $ — $ 1,219 $ 597 $ 470 c $ 4,706 $ 990 d $ — $ 5,696 Intersegment 428 843 1,271 63 48 111 167 49 173 8 4 (1,783 ) — — — — Production and delivery 341 561 902 178 293 471 700 206 86 1,220 578 (1,283 ) 2,880 273 (1 ) 3,152 Depreciation, depletion and amortization 51 82 133 41 61 102 92 58 25 2 11 15 438 504 3 945 Impairment of oil and gas properties — — — — — — — — — — — — — 308 — 308 Selling, general and administrative expenses — 1 1 — 1 1 27 3 — — 4 7 43 55 60 158 Mining exploration and research expenses — 2 2 — — — — — — — — 27 29 — — 29 Environmental obligations and shutdown costs — (5 ) (5 ) — — — — — — — — 23 18 — — 18 Net gain on sales of assets — (14 ) (14 ) — — — — — — — — (32 ) (46 ) — — (46 ) Operating income (loss) 176 295 471 139 134 273 434 161 62 5 8 (70 ) 1,344 (150 ) (62 ) 1,132 Interest expense, net 1 — 1 1 — 1 — — — — 3 19 24 51 83 158 Provision for (benefit from) income taxes — — — 47 95 142 181 36 — — — — 359 — (10 ) 349 Total assets at September 30, 2014 3,689 5,742 9,431 7,006 3,721 10,727 8,537 5,010 2,089 282 948 1,025 38,049 25,328 498 63,875 Capital expenditures 158 30 188 416 23 439 243 40 12 1 3 11 937 908 g 8 1,853 a. Third-quarter 2014 includes the results of the Candelaria and Ojos del Salado mining operations, which were sold in November 2014. b. Includes PT-FI’s sales to PT Smelting totaling $61 million in third-quarter 2015 and $628 million in third-quarter 2014 . c. Includes revenues from FCX's molybdenum sales company, which includes sales of molybdenum produced by the Molybdenum mines and by certain of the North and South America copper mines. d. Includes net mark-to-market gains associated with crude oil and natural gas derivative contracts totaling $29 million in third-quarter 2015 and $64 million in third-quarter 2014 . e. Includes charges totaling $133 million at North America copper mines for inventory adjustments, impairments and restructuring, $11 million at other South America mines for restructuring, $5 million at Molybdenum mines and $35 million at other mining & eliminations for inventory adjustments and restructuring, and $2 million for restructuring at corporate, other & eliminations. f. Primarily includes impairment charges for Morocco oil and gas properties. g. Excludes capital expenditures totaling $37 million in third-quarter 2015 and $7 million in third-quarter 2014 primarily related to the Morocco oil and gas properties, which are included in corporate, other & eliminations. (In millions) Mining Operations North America Copper Mines South America Indonesia Africa Atlantic Other Corporate, Molyb- Copper Mining U.S. Other Other Cerro Other denum Rod & Smelting & Elimi- Total Oil & Gas & Elimi- FCX Morenci Mines Total Verde Mines a Total Grasberg Tenke Mines Refining & Refining nations Mining Operations b nations Total Nine Months Ended September 30, 2015 Revenues: Unaffiliated customers $ 451 $ 265 $ 716 $ 681 $ 639 $ 1,320 $ 1,969 c $ 991 $ — $ 3,097 $ 1,473 $ 921 d $ 10,487 $ 1,594 e $ 1 $ 12,082 Intersegment 1,209 1,984 3,193 64 (7 ) f 57 37 98 298 20 12 (3,715 ) — — — — Production and delivery 1,117 1,816 2,933 g 540 464 g 1,004 1,311 634 253 g 3,097 1,397 (2,840 ) g 7,789 857 7 g 8,653 Depreciation, depletion and amortization 157 251 408 134 102 236 238 195 77 7 29 51 1,241 1,465 11 2,717 Impairment of oil and gas properties — — — — — — — — — — — — — 9,270 172 h 9,442 Selling, general and administrative expenses 2 2 4 2 1 3 74 8 — — 13 16 118 140 171 429 Mining exploration and research expenses — 6 6 — — — — — — — — 95 101 — — 101 Environmental obligations and shutdown costs — 3 3 — — — — — — — — 57 60 — 1 61 Net gain on sales of assets — (39 ) (39 ) — — — — — — — — — (39 ) — — (39 ) Operating income (loss) 384 210 594 69 65 134 383 252 (32 ) 13 46 (173 ) 1,217 (10,138 ) (361 ) (9,282 ) Interest expense, net 2 1 3 1 — 1 — — — — 8 57 69 129 260 458 Provision for (benefit from) income taxes — — — — 32 32 145 59 — — — — 236 — (1,978 ) (1,742 ) Capital expenditures 224 84 308 1,296 43 1,339 660 166 10 2 18 37 2,540 2,430 i 85 5,055 Nine Months Ended September 30, 2014 Revenues: Unaffiliated customers $ 215 $ 195 $ 410 $ 996 $ 1,387 $ 2,383 $ 2,071 c $ 1,071 $ — $ 3,599 $ 1,808 $ 1,374 d $ 12,716 $ 3,487 e $ — $ 16,203 Intersegment 1,346 2,489 3,835 150 243 393 175 102 469 24 15 (5,013 ) — — — — Production and delivery 936 1,622 2,558 538 939 1,477 1,594 556 243 3,601 1,784 (3,753 ) 8,060 913 (2 ) 8,971 Depreciation, depletion and amortization 128 240 368 120 164 284 194 172 71 7 31 51 1,178 1,736 10 2,924 Impairment of oil and gas properties — — — — — — — — — — — — — 308 — 308 Selling, general and administrative expenses 1 2 3 2 3 5 73 9 — — 13 20 123 171 163 457 Mining exploration and research expenses — 6 6 — — — — — — — — 87 93 — — 93 Environmental obligations and shutdown costs — (5 ) (5 ) — — — — — — — — 105 100 — — 100 Net gain on sales of assets — (14 ) (14 ) — — — — — — — — (32 ) (46 ) — — (46 ) Operating income (loss) 496 833 1,329 486 524 1,010 385 436 155 15 (5 ) (117 ) 3,208 359 (171 ) 3,396 Interest expense, net 2 1 3 1 — 1 — — — — 10 55 69 201 213 483 Provision for (benefit from) income taxes — — — 177 232 409 166 93 — — — — 668 — 366 1,034 Capital expenditures 691 124 815 1,207 71 1,278 722 100 45 3 9 38 3,010 2,392 i 13 5,415 a. For the first nine months of 2014 Other South America Mines include the results of the Candelaria and Ojos del Salado mining operations, which were sold in November 2014. b. The first nine months of 2014 include the results from Eagle Ford, which was sold in June 2014. c. Includes PT-FI’s sales to PT Smelting totaling $704 million for the first nine months of 2015 and $1.5 billion for the first nine months of 2014 . d. Includes revenues from FCX's molybdenum sales company, which includes sales of molybdenum produced by the Molybdenum mines and by certain of the North and South America copper mines. e. Includes net mark-to-market gains (losses) associated with crude oil and natural gas derivative contracts totaling $87 million for the first nine months 2015 and $(56) million for the first nine months of 2014 . f. Includes net reductions for provisional pricing adjustments to prior period open sales. There were no intersegment sales from El Abra for the first nine months of 2015. g. Includes charges totaling $144 million at North America copper mines for inventory adjustments, impairments and restructuring, $11 million at other South America mines for restructuring, $8 million at Molybdenum mines and $84 million at other mining & eliminations for inventory adjustments and restructuring, and $2 million for restructuring at corporate, other & eliminations. h. Primarily includes impairment charges for Morocco oil and gas properties. i. Excludes capital expenditures totaling $81 million for the first nine months of 2015 and $7 million for the first nine months of 2014 primarily related to the Morocco oil and gas properties, which are included in corporate, other & eliminations.

Guarantor Financial Statements

Guarantor Financial Statements (Unaudited) (Notes)	9 Months Ended
	Sep. 30, 2015
Guarantor Financial Statements [Abstract]
Guarantor Financial Statements [Text Block]	GUARANTOR FINANCIAL STATEMENTS All of the senior notes issued by FCX are fully and unconditionally guaranteed on a senior basis jointly and severally by Freeport-McMoRan Oil & Gas LLC (FM O&G LLC), as guarantor, which is a 100 percent owned subsidiary of FM O&G and FCX. The guarantee is an unsecured obligation of the guarantor and ranks equal in right of payment with all existing and future indebtedness of FM O&G LLC, including indebtedness under the revolving credit facility. The guarantee ranks senior in right of payment with all of FM O&G LLC's future subordinated obligations and is effectively subordinated in right of payment to any debt of FM O&G LLC's subsidiaries. The indentures provide that FM O&G LLC's guarantee may be released or terminated for certain obligations under the following circumstances: (i) all or substantially all of the equity interests or assets of FM O&G LLC are sold to a third party; or (ii) FM O&G LLC no longer has any obligations under any FM O&G senior notes or any refinancing thereof and no longer guarantees any obligations of FCX under the revolver, the Term Loan or any other senior debt. The following condensed consolidating financial information includes information regarding FCX, as issuer, FM O&G LLC, as guarantor, and all other non-guarantor subsidiaries of FCX. Included are the condensed consolidating balance sheets at September 30, 2015 , and December 31, 2014 , and the related condensed consolidating statements of comprehensive (loss) income for the three and nine months ended September 30, 2015 and 2014 , and condensed consolidating statements of cash flows for the nine months ended September 30, 2015 and 2014 (in millions), which should be read in conjunction with FCX's notes to the consolidated financial statements. CONDENSED CONSOLIDATING BALANCE SHEET September 30, 2015 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX ASSETS Current assets $ 139 $ 3,619 $ 10,291 $ (5,894 ) $ 8,155 Property, plant, equipment and mining development costs, net 27 55 27,273 — 27,355 Oil and gas properties, net - full cost method: Subject to amortization, less accumulated amortization — 1,020 1,980 2 3,002 Not subject to amortization — 1,648 5,914 6 7,568 Investments in consolidated subsidiaries 23,276 — 1,495 (24,771 ) — Other assets 8,426 4,918 4,232 (13,273 ) 4,303 Total assets $ 31,868 $ 11,260 $ 51,185 $ (43,930 ) $ 50,383 LIABILITIES AND EQUITY Current liabilities $ 4,546 $ 522 $ 5,641 $ (5,882 ) $ 4,827 Long-term debt, less current portion 15,256 5,560 10,553 (11,577 ) 19,792 Deferred income taxes 1,067 a — 3,296 — 4,363 Environmental and asset retirement obligations, less current portion — 322 3,386 — 3,708 Other liabilities 53 3,361 1,805 (3,492 ) 1,727 Total liabilities 20,922 9,765 24,681 (20,951 ) 34,417 Redeemable noncontrolling interest — — 761 — 761 Equity: Stockholders' equity 10,946 1,495 22,018 (23,513 ) 10,946 Noncontrolling interests — — 3,725 534 4,259 Total equity 10,946 1,495 25,743 (22,979 ) 15,205 Total liabilities and equity $ 31,868 $ 11,260 $ 51,185 $ (43,930 ) $ 50,383 a. All U.S. related deferred income taxes are recorded at the parent company. CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2014 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX ASSETS Current assets $ 323 $ 2,635 $ 8,659 $ (2,572 ) $ 9,045 Property, plant, equipment and mining development costs, net 22 46 26,152 — 26,220 Oil and gas properties, net - full cost method: Subject to amortization, less accumulated amortization — 3,296 5,907 (16 ) 9,187 Not subject to amortization — 2,447 7,640 — 10,087 Investments in consolidated subsidiaries 28,765 6,460 10,246 (45,471 ) — Other assets 8,914 3,947 4,061 (12,787 ) 4,135 Total assets $ 38,024 $ 18,831 $ 62,665 $ (60,846 ) $ 58,674 LIABILITIES AND EQUITY Current liabilities $ 1,592 $ 560 $ 5,592 $ (2,572 ) $ 5,172 Long-term debt, less current portion 14,930 3,874 8,879 (9,312 ) 18,371 Deferred income taxes 3,161 a — 3,237 — 6,398 Environmental and asset retirement obligations, less current portion — 302 3,345 — 3,647 Other liabilities 54 3,372 1,910 (3,475 ) 1,861 Total liabilities 19,737 8,108 22,963 (15,359 ) 35,449 Redeemable noncontrolling interest — — 751 — 751 Equity: Stockholders' equity 18,287 10,723 35,268 (45,991 ) 18,287 Noncontrolling interests — — 3,683 504 4,187 Total equity 18,287 10,723 38,951 (45,487 ) 22,474 Total liabilities and equity $ 38,024 $ 18,831 $ 62,665 $ (60,846 ) $ 58,674 a. All U.S. related deferred income taxes are recorded at the parent company. CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE (LOSS) INCOME Three Months Ended September 30, 2015 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 158 $ 3,523 $ — $ 3,681 Total costs and expenses 12 1,874 a 5,742 a (2 ) 7,626 Operating (loss) income (12 ) (1,716 ) (2,219 ) 2 (3,945 ) Interest expense, net (123 ) (1 ) (78 ) 39 (163 ) Other income (expense), net 31 — (35 ) (36 ) (40 ) (Loss) income before income taxes and equity in affiliated companies' net (losses) earnings (104 ) (1,717 ) (2,332 ) 5 (4,148 ) (Provision for) benefit from income taxes (1,283 ) 714 931 (2 ) 360 Equity in affiliated companies' net (losses) earnings (2,443 ) (2,237 ) (2,445 ) 7,123 (2 ) Net (loss) income (3,830 ) (3,240 ) (3,846 ) 7,126 (3,790 ) Net income and preferred dividends attributable to noncontrolling interests — — (39 ) (1 ) (40 ) Net (loss) income attributable to common stockholders $ (3,830 ) $ (3,240 ) $ (3,885 ) $ 7,125 $ (3,830 ) Other comprehensive income (loss) 14 — 14 (14 ) 14 Total comprehensive (loss) income $ (3,816 ) $ (3,240 ) $ (3,871 ) $ 7,111 $ (3,816 ) a. Includes charges totaling $1.7 billion at the FM O&G LLC guarantor and $2.0 billion at the non-guarantor subsidiaries related to impairment of FCX's oil and gas properties pursuant to full cost accounting rules. Nine Months Ended September 30, 2015 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 508 $ 11,574 $ — $ 12,082 Total costs and expenses 47 4,409 a 16,923 a (15 ) 21,364 Operating (loss) income (47 ) (3,901 ) (5,349 ) 15 (9,282 ) Interest expense, net (359 ) (7 ) (202 ) 110 (458 ) Other income (expense), net 187 — (83 ) (100 ) 4 (Loss) income before income taxes and equity in affiliated companies' net (losses) earnings (219 ) (3,908 ) (5,634 ) 25 (9,736 ) (Provision for) benefit from income taxes (1,969 ) 1,504 2,217 (10 ) 1,742 Equity in affiliated companies' net (losses) earnings (5,967 ) (6,516 ) (8,947 ) 21,429 (1 ) Net (loss) income (8,155 ) (8,920 ) (12,364 ) 21,444 (7,995 ) Net income and preferred dividends attributable to noncontrolling interests — — (133 ) (27 ) (160 ) Net (loss) income attributable to common stockholders $ (8,155 ) $ (8,920 ) $ (12,497 ) $ 21,417 $ (8,155 ) Other comprehensive income (loss) 35 — 35 (35 ) 35 Total comprehensive (loss) income $ (8,120 ) $ (8,920 ) $ (12,462 ) $ 21,382 $ (8,120 ) a. Includes charges totaling $3.7 billion at the FM O&G LLC guarantor and $5.7 billion at the non-guarantor subsidiaries related to impairment of FCX's oil and gas properties pursuant to full cost accounting rules. CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) Three Months Ended September 30, 2014 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 370 $ 5,326 $ — $ 5,696 Total costs and expenses 12 916 a 3,966 (330 ) a 4,564 Operating (loss) income (12 ) (546 ) 1,360 330 1,132 Interest expense, net (99 ) (38 ) (37 ) 16 (158 ) Net gain on early extinguishment of debt — 58 — — 58 Other income (expense), net 15 — 24 (16 ) 23 (Loss) income before income taxes and equity in affiliated companies' net earnings (losses) (96 ) (526 ) 1,347 330 1,055 Benefit from (provision for) income taxes 46 (104 ) (166 ) (125 ) (349 ) Equity in affiliated companies' net earnings (losses) 602 381 (111 ) (874 ) (2 ) Net income (loss) 552 (249 ) 1,070 (669 ) 704 Net income and preferred dividends attributable to noncontrolling interests — — (130 ) (22 ) (152 ) Net income (loss) attributable to common stockholders $ 552 $ (249 ) $ 940 $ (691 ) $ 552 Other comprehensive income (loss) 7 — 7 (7 ) 7 Total comprehensive income (loss) $ 559 $ (249 ) $ 947 $ (698 ) $ 559 a. Includes charges totaling $0.6 billion at the FM O&G LLC guarantor and $(0.3) billion of eliminations related to impairment of FCX's oil and gas properties pursuant to full cost accounting rules. Nine Months Ended September 30, 2014 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 1,584 $ 14,619 $ — $ 16,203 Total costs and expenses 44 1,931 a 11,170 (338 ) a 12,807 Operating (loss) income (44 ) (347 ) 3,449 338 3,396 Interest expense, net (268 ) (123 ) (146 ) 54 (483 ) Net (loss) gain on early extinguishment of debt (1 ) 64 — — 63 Other income (expense), net 52 1 49 (54 ) 48 (Loss) income before income taxes and equity in affiliated companies' net earnings (losses) (261 ) (405 ) 3,352 338 3,024 Benefit from (provision for) income taxes 51 (121 ) (836 ) (128 ) (1,034 ) Equity in affiliated companies' net earnings (losses) 1,754 637 228 (2,619 ) — Net income (loss) 1,544 111 2,744 (2,409 ) 1,990 Net income and preferred dividends attributable to noncontrolling interests — — (421 ) (25 ) (446 ) Net income (loss) attributable to common stockholders $ 1,544 $ 111 $ 2,323 $ (2,434 ) $ 1,544 Other comprehensive income (loss) 11 — 11 (11 ) 11 Total comprehensive income (loss) $ 1,555 $ 111 $ 2,334 $ (2,445 ) $ 1,555 a. Includes charges totaling $0.6 billion at the FM O&G LLC guarantor and $(0.3) billion of eliminations related to impairment of FCX's oil and gas properties pursuant to full cost accounting rules. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Nine Months Ended September 30, 2015 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Cash flow from operating activities: Net (loss) income $ (8,155 ) $ (8,920 ) $ (12,364 ) $ 21,444 $ (7,995 ) Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: Depreciation, depletion and amortization 3 303 2,474 (63 ) 2,717 Impairment of oil and gas properties — 3,710 5,684 48 9,442 Net gains on crude oil derivative contracts — (87 ) — — (87 ) Equity in losses (earnings) of consolidated subsidiaries 5,967 6,516 8,947 (21,429 ) 1 Other, net (1,953 ) 2 139 — (1,812 ) Changes in working capital and other tax payments 4,001 (1,213 ) (2,457 ) 11 342 Net cash (used in) provided by operating activities (137 ) 311 2,423 11 2,608 Cash flow from investing activities: Capital expenditures (7 ) (959 ) (4,079 ) (10 ) (5,055 ) Intercompany loans (1,310 ) (955 ) — 2,265 — Dividends from (investments in) consolidated subsidiaries 693 (49 ) 102 (748 ) (2 ) Other, net (21 ) (2 ) 118 21 116 Net cash (used in) provided by investing activities (645 ) (1,965 ) (3,859 ) 1,528 (4,941 ) Cash flow from financing activities: Proceeds from debt 3,893 — 2,659 — 6,552 Repayments of debt (3,550 ) — (1,143 ) — (4,693 ) Intercompany loans — 1,708 557 (2,265 ) — Net proceeds from sale of common stock 999 — — — 999 Cash dividends and distributions paid, and contributions received (547 ) (17 ) (749 ) 677 (636 ) Other, net (13 ) (37 ) (14 ) 49 (15 ) Net cash provided by (used in) financing activities 782 1,654 1,310 (1,539 ) 2,207 Net decrease in cash and cash equivalents — — (126 ) — (126 ) Cash and cash equivalents at beginning of period — 1 463 — 464 Cash and cash equivalents at end of period $ — $ 1 $ 337 $ — $ 338 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Nine Months Ended September 30, 2014 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Cash flow from operating activities: Net income (loss) $ 1,544 $ 111 $ 2,744 $ (2,409 ) $ 1,990 Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities: Depreciation, depletion and amortization 3 673 2,269 (21 ) 2,924 Impairment of oil and gas properties — 625 — (317 ) 308 Net losses on crude oil and natural gas derivative contracts — 56 — — 56 Net gain (loss) on early extinguishment of debt 1 (64 ) — — (63 ) Equity in (earnings) losses of consolidated subsidiaries (1,754 ) (637 ) 4 2,387 — Other, net 87 (17 ) (73 ) — (3 ) Changes in working capital and other tax payments (217 ) (1,166 ) 684 — (699 ) Net cash (used in) provided by operating activities (336 ) (419 ) 5,628 (360 ) 4,513 Cash flow from investing activities: Capital expenditures — (1,771 ) (3,644 ) — (5,415 ) Acquisition of Deepwater GOM interests — — (1,421 ) — (1,421 ) Intercompany loans 1,151 734 — — (1,885 ) — (Investments in) dividends from consolidated subsidiaries (959 ) (97 ) (696 ) 1,752 — Net proceeds from sale of Eagle Ford shale assets — 2,971 — — 2,971 Other, net — 32 189 — 221 Net cash provided by (used in) investing activities 192 1,869 (5,572 ) (133 ) (3,644 ) Cash flow from financing activities: Proceeds from debt 2,806 — 540 — 3,346 Repayments of debt (1,686 ) (1,996 ) (514 ) — (4,196 ) Intercompany loans — 213 (2,098 ) 1,885 — Cash dividends and distributions paid, and contributions received (979 ) 336 691 (1,392 ) (1,344 ) Other, net 3 (2 ) (3 ) — (2 ) Net cash provided by (used in) financing activities 144 (1,449 ) (1,384 ) 493 (2,196 ) Net increase (decrease) in cash and cash equivalents — 1 (1,328 ) — (1,327 ) Cash and cash equivalents at beginning of period — — 1,985 — 1,985 Cash and cash equivalents at end of period $ — $ 1 $ 657 $ — $ 658

New Accounting Standard (Unaudi

New Accounting Standard (Unaudited)	9 Months Ended
	Sep. 30, 2015
New Accounting Standards [Abstract]
New Accounting Standard	NEW ACCOUNTING STANDARDS In July 2015, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) that simplifies the subsequent measurement of inventory by requiring entities to measure inventory at the lower of cost or net realizable value, except for inventory measured using the last-in, first-out (LIFO) or the retail inventory methods. Under the new guidance, entities are only required to compare the cost of inventory to one measure - net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. For public entities, this ASU is effective for annual periods beginning after December 15, 2016, and interim periods within those fiscal years. Early adoption is permitted as of the beginning of an interim or annual reporting period. This ASU must be applied prospectively. FCX adopted this ASU effective July 1, 2015, and it had no impact on its results of operations. In April and August 2015, FASB issued ASUs to simplify the presentation of debt issuance costs. These ASUs require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. For public entities, these ASUs are effective for annual periods beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption is permitted for financial statements that have not been previously issued. FCX adopted these ASUs and retrospectively adjusted its previously issued financial statements. Upon adoption, FCX adjusted its December 31, 2014, balance sheet by decreasing other assets and long-term debt by $121 million for debt issuance costs related to corresponding debt balances. FCX elected to continue presenting debt issuance costs for its revolving credit facility as a deferred charge (asset) because of the volatility of its borrowings and repayments under the facility.

Subsequent Events (Unaudited)

Subsequent Events (Unaudited)	9 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS FCX evaluated events after September 30, 2015 , and through the date the consolidated financial statements were issued, and determined any events or transactions occurring during this period that would require recognition or disclosure are appropriately addressed in these consolidated financial statements.

Earnings Per Share (Unaudited)

Earnings Per Share (Unaudited) (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Reconciliation of net income and weighted-average shares of common stock outstanding	A reconciliation of net (loss) income and weighted-average shares of common stock outstanding for purposes of calculating basic and diluted net (loss) income per share follows (in millions, except per share amounts): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Net (loss) income $ (3,790 ) $ 704 $ (7,995 ) $ 1,990 Net income attributable to noncontrolling interests (29 ) (142 ) (129 ) (416 ) Preferred dividends on redeemable noncontrolling interest (11 ) (10 ) (31 ) (30 ) Undistributed earnings allocable to participating securities (3 ) (2 ) (3 ) (4 ) Net (loss) income allocable to common stockholders $ (3,833 ) $ 550 $ (8,158 ) $ 1,540 Basic weighted-average shares of common stock outstanding 1,071 1,039 1,050 1,039 Add shares issuable upon exercise or vesting of dilutive stock options and RSUs — a 7 a — a 6 a Diluted weighted-average shares of common stock outstanding 1,071 1,046 1,050 1,045 Basic net (loss) income per share attributable to common stockholders $ (3.58 ) $ 0.53 $ (7.77 ) $ 1.48 Diluted net (loss) income per share attributable to common stockholders $ (3.58 ) $ 0.53 $ (7.77 ) $ 1.47 a. Excludes approximately 7 million shares of common stock for third-quarter 2015 , 5 million for third-quarter 2014 , 10 million for the nine months ended September 30, 2015 , and 3 million for the nine months ended September 30, 2014 , associated with outstanding stock options with exercise prices less than the average market price of FCX's common stock and RSUs that were anti-dilutive.

Inventories, Including Long-T21

Inventories, Including Long-Term Mill and Leach Stockpiles (Unaudited) (Tables)	9 Months Ended
	Sep. 30, 2015
Inventories, Including Long Term Mill and Leach Stockpiles [Abstract]
Components of inventories	The components of inventories follow (in millions): September 30, December 31, 2014 Current inventories: Total materials and supplies, net a $ 2,071 $ 1,886 Mill stockpiles $ 118 $ 86 Leach stockpiles 1,777 1,828 Total current mill and leach stockpiles $ 1,895 $ 1,914 Raw materials (primarily concentrates) $ 281 $ 288 Work-in-process 102 174 Finished goods 996 1,099 Total product inventories $ 1,379 $ 1,561 Long-term inventories: Mill stockpiles $ 444 $ 360 Leach stockpiles 1,882 1,819 Total long-term mill and leach stockpiles b $ 2,326 $ 2,179 a. Materials and supplies inventory was net of obsolescence reserves totaling $26 million at September 30, 2015 , and $20 million at December 31, 2014 . b. Estimated metals in stockpiles not expected to be recovered within the next 12 months.

Income Taxes (Unaudited) (Table

Income Taxes (Unaudited) (Tables)	9 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Geographic Sources of Provision for Income Taxes	Geographic sources of FCX's benefit from (provision for) income taxes follow (in millions): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 U.S. operations $ 309 a $ (38 ) $ 2,020 a $ (323 ) b International operations 51 (311 ) c (278 ) (711 ) c Total $ 360 $ (349 ) $ 1,742 $ (1,034 ) a. As a result of the impairment to U.S. oil and gas properties, FCX recorded tax charges of $1.2 billion for third-quarter 2015 and $2.0 billion for the first nine months of 2015 to establish a valuation allowance primarily against U.S. federal alternative minimum tax credits and foreign tax credits, partly offset by a tax benefit of $56 million related to the impairment of the Morocco oil and gas properties. Excluding these charges, FCX's consolidated effective income tax rate was 38 percent for the first nine months of 2015. b. FCX recognized a $62 million charge for deferred taxes recorded in connection with the allocation of goodwill to the sale of Eagle Ford shale assets. c. Included a $54 million charge related to changes in Chilean tax rules.

Financial Instruments (Unaudi23

Financial Instruments (Unaudited) (Tables)	9 Months Ended
	Sep. 30, 2015
Financial Instruments [Abstract]
Unrealized gains (losses) for derivative financial instruments that are designated and qualify as fair value hedge transactions and for the related hedged item	A summary of gains (losses) recognized in revenues for derivative financial instruments related to commodity contracts that are designated and qualify as fair value hedge transactions, along with the unrealized gains (losses) on the related hedged item follows (in millions): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Copper futures and swap contracts: Unrealized gains (losses): Derivative financial instruments $ (2 ) $ (10 ) $ — $ (10 ) Hedged item – firm sales commitments 2 10 — 10 Realized (losses) gains: Matured derivative financial instruments (12 ) 1 (23 ) (3 )
Schedule of Derivative Instruments	At September 30, 2015 , the outstanding 2015 crude oil option contracts, which settle monthly and cover approximately 7.7 million barrels over the remainder of 2015, follow: Daily Volumes (thousand barrels) Average Strike Price (per barrel) a Weighted-Average Deferred Premium (per barrel) 2015 Period Instrument Type Floor Floor Limit Index October - December Put options b 84 $ 90 $ 70 $ 6.89 Brent a. The average strike prices do not reflect any premiums to purchase the put options. b. If the index price is less than the per barrel floor, FCX receives the difference between the per barrel floor and the index price up to a maximum of $20 per barrel less the option premium. If the index price is at or above the per barrel floor, FCX pays the option premium and no cash settlement is received. A summary of FCX’s embedded commodity derivatives at September 30, 2015 , follows: Open Positions Average Price Per Unit Maturities Through Contract Market Embedded derivatives in provisional sales contracts: Copper (millions of pounds) 536 $ 2.45 $ 2.34 March 2016 Gold (thousands of ounces) 149 1,125 1,118 December 2015 Embedded derivatives in provisional purchase contracts: Copper (millions of pounds) 87 2.45 2.35 January 2016
Realized and unrealized gains (losses) for derivative financial instruments that do not qualify as hedge transactions	A summary of the realized and unrealized (losses) gains recognized in (loss) income before income taxes and equity in affiliated companies’ net earnings for commodity contracts that do not qualify as hedge transactions, including embedded derivatives, follows (in millions): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Embedded derivatives in provisional copper and gold sales contracts a $ (170 ) $ (99 ) $ (320 ) $ (184 ) Crude oil options a 29 57 87 (47 ) Natural gas swaps a — 7 — (9 ) Copper forward contracts b (8 ) (4 ) (15 ) 1 a. Amounts recorded in revenues. b. Amounts recorded in cost of sales as production and delivery costs.
Fair Values of Unsettled Derivative Financial Instruments	A summary of these unsettled commodity contracts that are offset in the balance sheet follows (in millions): Assets Liabilities September 30, 2015 December 31, 2014 September 30, 2015 December 31, 2014 Gross amounts recognized: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts $ 17 $ 15 $ 69 $ 93 Crude oil derivatives 101 316 — — Copper derivatives 1 — 8 7 119 331 77 100 Less gross amounts of offset: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts 2 1 2 1 Crude oil derivatives — — — — Copper derivatives 1 — 1 — 3 1 3 1 Net amounts presented in balance sheet: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts 15 14 67 92 Crude oil derivatives 101 316 — — Copper derivatives — — 7 7 $ 116 $ 330 $ 74 $ 99 Balance sheet classification: Trade accounts receivable $ 6 $ 5 $ 50 $ 56 Other current assets 101 316 — — Accounts payable and accrued liabilities 9 9 24 43 $ 116 $ 330 $ 74 $ 99 A summary of the fair values of unsettled commodity derivative financial instruments follows (in millions): September 30, December 31, 2014 Commodity Derivative Assets: Derivatives designated as hedging instruments: Copper futures and swap contracts a $ 1 $ — Derivatives not designated as hedging instruments: Embedded derivatives in provisional copper and gold sales/purchase contracts 17 15 Crude oil options b 101 316 Total derivative assets $ 119 $ 331 Commodity Derivative Liabilities: Derivatives designated as hedging instruments: Copper futures and swap contracts a $ 8 $ 7 Derivatives not designated as hedging instruments: Embedded derivatives in provisional copper and gold sales/purchase contracts 69 93 Total derivative liabilities $ 77 $ 100 a. FCX paid $16 million to brokers at September 30, 2015 , and $10 million at December 31, 2014 , for margin requirements (recorded in other current assets). b. Amounts are net of $53 million at September 30, 2015 , and $210 million at December 31, 2014 , for deferred premiums and accrued interest.

Fair Value Measurement (Unaud24

Fair Value Measurement (Unaudited) (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	A summary of the changes in the fair value of FCX ' s most significant Level 3 instruments, crude oil options, follows (in millions): Crude Oil Options Fair value at December 31, 2014 $ 316 Net realized gains 50 a Net unrealized gains included in earnings related to assets and liabilities still held at the end of the period 36 Net settlement receipts (301 ) b Fair value at September 30, 2015 $ 101 a. Includes net realized gains of $51 million , partially offset by $1 million of interest expense associated with the deferred premiums. b. Includes interest payments of $3 million .
Carrying Amount and Fair Value of Other Financial Instruments	A summary of the carrying amount and fair value of FCX’s financial instruments, other than cash and cash equivalents, accounts receivable, restricted cash, accounts payable and accrued liabilities, and dividends payable (refer to Note 7 ), follows (in millions): At September 30, 2015 Carrying Fair Value Amount Total Level 1 Level 2 Level 3 Assets Investment securities: a,b U.S. core fixed income fund $ 23 $ 23 $ — $ 23 $ — Money market funds 22 22 22 — — Equity securities 3 3 3 — — Total 48 48 25 23 — Legally restricted funds: a,b,c,d U.S. core fixed income fund 52 52 — 52 — Government bonds and notes 41 41 — 41 — Government mortgage-backed securities 28 28 — 28 — Corporate bonds 26 26 — 26 — Asset-backed securities 12 12 — 12 — Collateralized mortgage-backed securities 8 8 — 8 — Money market funds 4 4 4 — — Municipal bonds 1 1 — 1 — Total 172 172 4 168 — Derivatives: a,e Embedded derivatives in provisional sales/purchase contracts in a gross asset position 17 17 — 17 — Crude oil options 101 101 — — 101 Copper futures and swap contracts 1 1 1 — — Total 119 119 1 17 101 Total assets $ 339 $ 30 $ 208 $ 101 Liabilities Derivatives: a,e Embedded derivatives in provisional sales/purchase contracts in a gross liability position $ 69 $ 69 $ — $ 69 $ — Copper futures and swap contracts 8 8 7 1 — Total 77 77 7 70 — Long-term debt, including current portion f 20,698 17,291 — 17,291 — Total liabilities $ 17,368 $ 7 $ 17,361 $ — At December 31, 2014 Carrying Fair Value Amount Total Level 1 Level 2 Level 3 Assets Investment securities: a,b U.S. core fixed income fund $ 23 $ 23 $ — $ 23 $ — Money market funds 20 20 20 — — Equity securities 3 3 3 — — Total 46 46 23 23 — Legally restricted funds: a,b,c,d U.S. core fixed income fund 52 52 — 52 — Government bonds and notes 39 39 — 39 — Corporate bonds 27 27 — 27 — Government mortgage-backed securities 19 19 — 19 — Asset-backed securities 17 17 — 17 — Money market funds 11 11 11 — — Collateralized mortgage-backed securities 6 6 — 6 — Municipal bonds 1 1 — 1 — Total 172 172 11 161 — Derivatives: a,e Embedded derivatives in provisional sales/purchase contracts in a gross asset position 15 15 — 15 — Crude oil options 316 316 — — 316 Total 331 331 — 15 316 Total assets $ 549 $ 34 $ 199 $ 316 Liabilities Derivatives: a,e Embedded derivatives in provisional sales/purchase contracts in a gross liability position $ 93 $ 93 $ — $ 93 $ — Copper futures and swap contracts 7 7 6 1 — Total 100 100 6 94 — Long-term debt, including current portion f 18,849 18,735 — 18,735 — Total liabilities $ 18,835 $ 6 $ 18,829 $ — a. Recorded at fair value. b. Current portion included in other current assets and long-term portion included in other assets. c. Excludes time deposits (which approximated fair value) included in other assets of $117 million at September 30, 2015 , and $115 million at December 31, 2014 , associated with an assurance bond to support PT-FI's commitment for smelter development in Indonesia. d. Excludes time deposits (which approximated fair value) included in other current assets of $30 million at September 30, 2015 , associated with PT-FI's commitment for smelter development in Indonesia of $20 million and a reclamation guarantee at PT-FI of $10 million . Excludes time deposits of $17 million at December 31, 2014 , associated with a customs audit assessment at PT-FI of $9 million and a reclamation guarantee at PT-FI of $8 million . e. Refer to Note 7 for further discussion and balance sheet classifications. Crude oil options are net of $53 million at September 30, 2015 , and $210 million at December 31, 2014 , for deferred premiums and accrued interest. f. Recorded at cost except for debt assumed in acquisitions, which were recorded at fair value at the respective acquisition dates.

Business Segments (Unaudited) (

Business Segments (Unaudited) (Tables)	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Schedule of Segment Reporting Information By Segment	Financial Information by Business Segments (In millions) Mining Operations North America Copper Mines South America Indonesia Africa Atlantic Other Corporate, Molyb- Copper Mining U.S. Other Other Cerro Other denum Rod & Smelting & Elimi- Total Oil & Gas & Elimi- FCX Morenci Mines Total Verde Mines a Total Grasberg Tenke Mines Refining & Refining nations Mining Operations nations Total Three Months Ended September 30, 2015 Revenues: Unaffiliated customers $ 165 $ 58 $ 223 $ 238 $ 187 $ 425 $ 557 b $ 299 $ — $ 946 $ 438 $ 267 c $ 3,155 $ 525 d $ 1 $ 3,681 Intersegment 332 614 946 13 — 13 52 29 83 5 1 (1,129 ) — — — — Production and delivery 357 671 1,028 e 177 167 e 344 417 209 86 e 946 410 (842 ) e 2,598 293 2 e 2,893 Depreciation, depletion and amortization 51 85 136 57 32 89 90 65 26 2 10 16 434 450 4 888 Impairment of oil and gas properties — — — — — — — — — — — — — 3,480 172 f 3,652 Selling, general and administrative expenses 1 — 1 1 — 1 24 2 — — 4 5 37 37 50 124 Mining exploration and research expenses — 1 1 — — — — — — — — 31 32 — — 32 Environmental obligations and shutdown costs — 3 3 — — — — — — — — 33 36 — 1 37 Operating income (loss) 88 (88 ) — 16 (12 ) 4 78 52 (29 ) 3 15 (105 ) 18 (3,735 ) (228 ) (3,945 ) Interest expense, net 1 — 1 — — — — — — — 3 19 23 51 89 163 Provision for (benefit from) income taxes — — — — 2 2 21 6 — — — — 29 — (389 ) (360 ) Total assets at September 30, 2015 3,720 5,159 8,879 9,136 1,843 10,979 8,965 5,100 2,017 235 699 1,326 38,200 11,911 272 50,383 Capital expenditures 61 33 94 421 16 437 222 69 3 1 10 10 846 635 g 46 1,527 Three Months Ended September 30, 2014 Revenues: Unaffiliated customers $ 140 $ 79 $ 219 $ 295 $ 441 $ 736 $ 1,086 b $ 379 $ — $ 1,219 $ 597 $ 470 c $ 4,706 $ 990 d $ — $ 5,696 Intersegment 428 843 1,271 63 48 111 167 49 173 8 4 (1,783 ) — — — — Production and delivery 341 561 902 178 293 471 700 206 86 1,220 578 (1,283 ) 2,880 273 (1 ) 3,152 Depreciation, depletion and amortization 51 82 133 41 61 102 92 58 25 2 11 15 438 504 3 945 Impairment of oil and gas properties — — — — — — — — — — — — — 308 — 308 Selling, general and administrative expenses — 1 1 — 1 1 27 3 — — 4 7 43 55 60 158 Mining exploration and research expenses — 2 2 — — — — — — — — 27 29 — — 29 Environmental obligations and shutdown costs — (5 ) (5 ) — — — — — — — — 23 18 — — 18 Net gain on sales of assets — (14 ) (14 ) — — — — — — — — (32 ) (46 ) — — (46 ) Operating income (loss) 176 295 471 139 134 273 434 161 62 5 8 (70 ) 1,344 (150 ) (62 ) 1,132 Interest expense, net 1 — 1 1 — 1 — — — — 3 19 24 51 83 158 Provision for (benefit from) income taxes — — — 47 95 142 181 36 — — — — 359 — (10 ) 349 Total assets at September 30, 2014 3,689 5,742 9,431 7,006 3,721 10,727 8,537 5,010 2,089 282 948 1,025 38,049 25,328 498 63,875 Capital expenditures 158 30 188 416 23 439 243 40 12 1 3 11 937 908 g 8 1,853 a. Third-quarter 2014 includes the results of the Candelaria and Ojos del Salado mining operations, which were sold in November 2014. b. Includes PT-FI’s sales to PT Smelting totaling $61 million in third-quarter 2015 and $628 million in third-quarter 2014 . c. Includes revenues from FCX's molybdenum sales company, which includes sales of molybdenum produced by the Molybdenum mines and by certain of the North and South America copper mines. d. Includes net mark-to-market gains associated with crude oil and natural gas derivative contracts totaling $29 million in third-quarter 2015 and $64 million in third-quarter 2014 . e. Includes charges totaling $133 million at North America copper mines for inventory adjustments, impairments and restructuring, $11 million at other South America mines for restructuring, $5 million at Molybdenum mines and $35 million at other mining & eliminations for inventory adjustments and restructuring, and $2 million for restructuring at corporate, other & eliminations. f. Primarily includes impairment charges for Morocco oil and gas properties. g. Excludes capital expenditures totaling $37 million in third-quarter 2015 and $7 million in third-quarter 2014 primarily related to the Morocco oil and gas properties, which are included in corporate, other & eliminations. (In millions) Mining Operations North America Copper Mines South America Indonesia Africa Atlantic Other Corporate, Molyb- Copper Mining U.S. Other Other Cerro Other denum Rod & Smelting & Elimi- Total Oil & Gas & Elimi- FCX Morenci Mines Total Verde Mines a Total Grasberg Tenke Mines Refining & Refining nations Mining Operations b nations Total Nine Months Ended September 30, 2015 Revenues: Unaffiliated customers $ 451 $ 265 $ 716 $ 681 $ 639 $ 1,320 $ 1,969 c $ 991 $ — $ 3,097 $ 1,473 $ 921 d $ 10,487 $ 1,594 e $ 1 $ 12,082 Intersegment 1,209 1,984 3,193 64 (7 ) f 57 37 98 298 20 12 (3,715 ) — — — — Production and delivery 1,117 1,816 2,933 g 540 464 g 1,004 1,311 634 253 g 3,097 1,397 (2,840 ) g 7,789 857 7 g 8,653 Depreciation, depletion and amortization 157 251 408 134 102 236 238 195 77 7 29 51 1,241 1,465 11 2,717 Impairment of oil and gas properties — — — — — — — — — — — — — 9,270 172 h 9,442 Selling, general and administrative expenses 2 2 4 2 1 3 74 8 — — 13 16 118 140 171 429 Mining exploration and research expenses — 6 6 — — — — — — — — 95 101 — — 101 Environmental obligations and shutdown costs — 3 3 — — — — — — — — 57 60 — 1 61 Net gain on sales of assets — (39 ) (39 ) — — — — — — — — — (39 ) — — (39 ) Operating income (loss) 384 210 594 69 65 134 383 252 (32 ) 13 46 (173 ) 1,217 (10,138 ) (361 ) (9,282 ) Interest expense, net 2 1 3 1 — 1 — — — — 8 57 69 129 260 458 Provision for (benefit from) income taxes — — — — 32 32 145 59 — — — — 236 — (1,978 ) (1,742 ) Capital expenditures 224 84 308 1,296 43 1,339 660 166 10 2 18 37 2,540 2,430 i 85 5,055 Nine Months Ended September 30, 2014 Revenues: Unaffiliated customers $ 215 $ 195 $ 410 $ 996 $ 1,387 $ 2,383 $ 2,071 c $ 1,071 $ — $ 3,599 $ 1,808 $ 1,374 d $ 12,716 $ 3,487 e $ — $ 16,203 Intersegment 1,346 2,489 3,835 150 243 393 175 102 469 24 15 (5,013 ) — — — — Production and delivery 936 1,622 2,558 538 939 1,477 1,594 556 243 3,601 1,784 (3,753 ) 8,060 913 (2 ) 8,971 Depreciation, depletion and amortization 128 240 368 120 164 284 194 172 71 7 31 51 1,178 1,736 10 2,924 Impairment of oil and gas properties — — — — — — — — — — — — — 308 — 308 Selling, general and administrative expenses 1 2 3 2 3 5 73 9 — — 13 20 123 171 163 457 Mining exploration and research expenses — 6 6 — — — — — — — — 87 93 — — 93 Environmental obligations and shutdown costs — (5 ) (5 ) — — — — — — — — 105 100 — — 100 Net gain on sales of assets — (14 ) (14 ) — — — — — — — — (32 ) (46 ) — — (46 ) Operating income (loss) 496 833 1,329 486 524 1,010 385 436 155 15 (5 ) (117 ) 3,208 359 (171 ) 3,396 Interest expense, net 2 1 3 1 — 1 — — — — 10 55 69 201 213 483 Provision for (benefit from) income taxes — — — 177 232 409 166 93 — — — — 668 — 366 1,034 Capital expenditures 691 124 815 1,207 71 1,278 722 100 45 3 9 38 3,010 2,392 i 13 5,415 a. For the first nine months of 2014 Other South America Mines include the results of the Candelaria and Ojos del Salado mining operations, which were sold in November 2014. b. The first nine months of 2014 include the results from Eagle Ford, which was sold in June 2014. c. Includes PT-FI’s sales to PT Smelting totaling $704 million for the first nine months of 2015 and $1.5 billion for the first nine months of 2014 . d. Includes revenues from FCX's molybdenum sales company, which includes sales of molybdenum produced by the Molybdenum mines and by certain of the North and South America copper mines. e. Includes net mark-to-market gains (losses) associated with crude oil and natural gas derivative contracts totaling $87 million for the first nine months 2015 and $(56) million for the first nine months of 2014 . f. Includes net reductions for provisional pricing adjustments to prior period open sales. There were no intersegment sales from El Abra for the first nine months of 2015. g. Includes charges totaling $144 million at North America copper mines for inventory adjustments, impairments and restructuring, $11 million at other South America mines for restructuring, $8 million at Molybdenum mines and $84 million at other mining & eliminations for inventory adjustments and restructuring, and $2 million for restructuring at corporate, other & eliminations. h. Primarily includes impairment charges for Morocco oil and gas properties. i. Excludes capital expenditures totaling $81 million for the first nine months of 2015 and $7 million for the first nine months of 2014 primarily related to the Morocco oil and gas properties, which are included in corporate, other & eliminations.

Guarantor Financial Statement26

Guarantor Financial Statements (Unaudited) (Tables)	9 Months Ended
	Sep. 30, 2015
Guarantor Financial Statements [Abstract]
Condensed Consolidating Balance Sheets [Table Text Block]	CONDENSED CONSOLIDATING BALANCE SHEET September 30, 2015 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX ASSETS Current assets $ 139 $ 3,619 $ 10,291 $ (5,894 ) $ 8,155 Property, plant, equipment and mining development costs, net 27 55 27,273 — 27,355 Oil and gas properties, net - full cost method: Subject to amortization, less accumulated amortization — 1,020 1,980 2 3,002 Not subject to amortization — 1,648 5,914 6 7,568 Investments in consolidated subsidiaries 23,276 — 1,495 (24,771 ) — Other assets 8,426 4,918 4,232 (13,273 ) 4,303 Total assets $ 31,868 $ 11,260 $ 51,185 $ (43,930 ) $ 50,383 LIABILITIES AND EQUITY Current liabilities $ 4,546 $ 522 $ 5,641 $ (5,882 ) $ 4,827 Long-term debt, less current portion 15,256 5,560 10,553 (11,577 ) 19,792 Deferred income taxes 1,067 a — 3,296 — 4,363 Environmental and asset retirement obligations, less current portion — 322 3,386 — 3,708 Other liabilities 53 3,361 1,805 (3,492 ) 1,727 Total liabilities 20,922 9,765 24,681 (20,951 ) 34,417 Redeemable noncontrolling interest — — 761 — 761 Equity: Stockholders' equity 10,946 1,495 22,018 (23,513 ) 10,946 Noncontrolling interests — — 3,725 534 4,259 Total equity 10,946 1,495 25,743 (22,979 ) 15,205 Total liabilities and equity $ 31,868 $ 11,260 $ 51,185 $ (43,930 ) $ 50,383 a. All U.S. related deferred income taxes are recorded at the parent company. CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2014 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX ASSETS Current assets $ 323 $ 2,635 $ 8,659 $ (2,572 ) $ 9,045 Property, plant, equipment and mining development costs, net 22 46 26,152 — 26,220 Oil and gas properties, net - full cost method: Subject to amortization, less accumulated amortization — 3,296 5,907 (16 ) 9,187 Not subject to amortization — 2,447 7,640 — 10,087 Investments in consolidated subsidiaries 28,765 6,460 10,246 (45,471 ) — Other assets 8,914 3,947 4,061 (12,787 ) 4,135 Total assets $ 38,024 $ 18,831 $ 62,665 $ (60,846 ) $ 58,674 LIABILITIES AND EQUITY Current liabilities $ 1,592 $ 560 $ 5,592 $ (2,572 ) $ 5,172 Long-term debt, less current portion 14,930 3,874 8,879 (9,312 ) 18,371 Deferred income taxes 3,161 a — 3,237 — 6,398 Environmental and asset retirement obligations, less current portion — 302 3,345 — 3,647 Other liabilities 54 3,372 1,910 (3,475 ) 1,861 Total liabilities 19,737 8,108 22,963 (15,359 ) 35,449 Redeemable noncontrolling interest — — 751 — 751 Equity: Stockholders' equity 18,287 10,723 35,268 (45,991 ) 18,287 Noncontrolling interests — — 3,683 504 4,187 Total equity 18,287 10,723 38,951 (45,487 ) 22,474 Total liabilities and equity $ 38,024 $ 18,831 $ 62,665 $ (60,846 ) $ 58,674 a. All U.S. related deferred income taxes are recorded at the parent company.
Condensed Consolidating Statements of Income [Table Text Block]	CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE (LOSS) INCOME Three Months Ended September 30, 2015 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 158 $ 3,523 $ — $ 3,681 Total costs and expenses 12 1,874 a 5,742 a (2 ) 7,626 Operating (loss) income (12 ) (1,716 ) (2,219 ) 2 (3,945 ) Interest expense, net (123 ) (1 ) (78 ) 39 (163 ) Other income (expense), net 31 — (35 ) (36 ) (40 ) (Loss) income before income taxes and equity in affiliated companies' net (losses) earnings (104 ) (1,717 ) (2,332 ) 5 (4,148 ) (Provision for) benefit from income taxes (1,283 ) 714 931 (2 ) 360 Equity in affiliated companies' net (losses) earnings (2,443 ) (2,237 ) (2,445 ) 7,123 (2 ) Net (loss) income (3,830 ) (3,240 ) (3,846 ) 7,126 (3,790 ) Net income and preferred dividends attributable to noncontrolling interests — — (39 ) (1 ) (40 ) Net (loss) income attributable to common stockholders $ (3,830 ) $ (3,240 ) $ (3,885 ) $ 7,125 $ (3,830 ) Other comprehensive income (loss) 14 — 14 (14 ) 14 Total comprehensive (loss) income $ (3,816 ) $ (3,240 ) $ (3,871 ) $ 7,111 $ (3,816 ) a. Includes charges totaling $1.7 billion at the FM O&G LLC guarantor and $2.0 billion at the non-guarantor subsidiaries related to impairment of FCX's oil and gas properties pursuant to full cost accounting rules. Nine Months Ended September 30, 2015 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 508 $ 11,574 $ — $ 12,082 Total costs and expenses 47 4,409 a 16,923 a (15 ) 21,364 Operating (loss) income (47 ) (3,901 ) (5,349 ) 15 (9,282 ) Interest expense, net (359 ) (7 ) (202 ) 110 (458 ) Other income (expense), net 187 — (83 ) (100 ) 4 (Loss) income before income taxes and equity in affiliated companies' net (losses) earnings (219 ) (3,908 ) (5,634 ) 25 (9,736 ) (Provision for) benefit from income taxes (1,969 ) 1,504 2,217 (10 ) 1,742 Equity in affiliated companies' net (losses) earnings (5,967 ) (6,516 ) (8,947 ) 21,429 (1 ) Net (loss) income (8,155 ) (8,920 ) (12,364 ) 21,444 (7,995 ) Net income and preferred dividends attributable to noncontrolling interests — — (133 ) (27 ) (160 ) Net (loss) income attributable to common stockholders $ (8,155 ) $ (8,920 ) $ (12,497 ) $ 21,417 $ (8,155 ) Other comprehensive income (loss) 35 — 35 (35 ) 35 Total comprehensive (loss) income $ (8,120 ) $ (8,920 ) $ (12,462 ) $ 21,382 $ (8,120 ) a. Includes charges totaling $3.7 billion at the FM O&G LLC guarantor and $5.7 billion at the non-guarantor subsidiaries related to impairment of FCX's oil and gas properties pursuant to full cost accounting rules. CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) Three Months Ended September 30, 2014 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 370 $ 5,326 $ — $ 5,696 Total costs and expenses 12 916 a 3,966 (330 ) a 4,564 Operating (loss) income (12 ) (546 ) 1,360 330 1,132 Interest expense, net (99 ) (38 ) (37 ) 16 (158 ) Net gain on early extinguishment of debt — 58 — — 58 Other income (expense), net 15 — 24 (16 ) 23 (Loss) income before income taxes and equity in affiliated companies' net earnings (losses) (96 ) (526 ) 1,347 330 1,055 Benefit from (provision for) income taxes 46 (104 ) (166 ) (125 ) (349 ) Equity in affiliated companies' net earnings (losses) 602 381 (111 ) (874 ) (2 ) Net income (loss) 552 (249 ) 1,070 (669 ) 704 Net income and preferred dividends attributable to noncontrolling interests — — (130 ) (22 ) (152 ) Net income (loss) attributable to common stockholders $ 552 $ (249 ) $ 940 $ (691 ) $ 552 Other comprehensive income (loss) 7 — 7 (7 ) 7 Total comprehensive income (loss) $ 559 $ (249 ) $ 947 $ (698 ) $ 559 a. Includes charges totaling $0.6 billion at the FM O&G LLC guarantor and $(0.3) billion of eliminations related to impairment of FCX's oil and gas properties pursuant to full cost accounting rules. Nine Months Ended September 30, 2014 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 1,584 $ 14,619 $ — $ 16,203 Total costs and expenses 44 1,931 a 11,170 (338 ) a 12,807 Operating (loss) income (44 ) (347 ) 3,449 338 3,396 Interest expense, net (268 ) (123 ) (146 ) 54 (483 ) Net (loss) gain on early extinguishment of debt (1 ) 64 — — 63 Other income (expense), net 52 1 49 (54 ) 48 (Loss) income before income taxes and equity in affiliated companies' net earnings (losses) (261 ) (405 ) 3,352 338 3,024 Benefit from (provision for) income taxes 51 (121 ) (836 ) (128 ) (1,034 ) Equity in affiliated companies' net earnings (losses) 1,754 637 228 (2,619 ) — Net income (loss) 1,544 111 2,744 (2,409 ) 1,990 Net income and preferred dividends attributable to noncontrolling interests — — (421 ) (25 ) (446 ) Net income (loss) attributable to common stockholders $ 1,544 $ 111 $ 2,323 $ (2,434 ) $ 1,544 Other comprehensive income (loss) 11 — 11 (11 ) 11 Total comprehensive income (loss) $ 1,555 $ 111 $ 2,334 $ (2,445 ) $ 1,555 a. Includes charges totaling $0.6 billion at the FM O&G LLC guarantor and $(0.3) billion of eliminations related to impairment of FCX's oil and gas properties pursuant to full cost accounting rules.
Condensed Consolidating Statements of Cash Flows [Table Text Block]	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Nine Months Ended September 30, 2015 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Cash flow from operating activities: Net (loss) income $ (8,155 ) $ (8,920 ) $ (12,364 ) $ 21,444 $ (7,995 ) Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: Depreciation, depletion and amortization 3 303 2,474 (63 ) 2,717 Impairment of oil and gas properties — 3,710 5,684 48 9,442 Net gains on crude oil derivative contracts — (87 ) — — (87 ) Equity in losses (earnings) of consolidated subsidiaries 5,967 6,516 8,947 (21,429 ) 1 Other, net (1,953 ) 2 139 — (1,812 ) Changes in working capital and other tax payments 4,001 (1,213 ) (2,457 ) 11 342 Net cash (used in) provided by operating activities (137 ) 311 2,423 11 2,608 Cash flow from investing activities: Capital expenditures (7 ) (959 ) (4,079 ) (10 ) (5,055 ) Intercompany loans (1,310 ) (955 ) — 2,265 — Dividends from (investments in) consolidated subsidiaries 693 (49 ) 102 (748 ) (2 ) Other, net (21 ) (2 ) 118 21 116 Net cash (used in) provided by investing activities (645 ) (1,965 ) (3,859 ) 1,528 (4,941 ) Cash flow from financing activities: Proceeds from debt 3,893 — 2,659 — 6,552 Repayments of debt (3,550 ) — (1,143 ) — (4,693 ) Intercompany loans — 1,708 557 (2,265 ) — Net proceeds from sale of common stock 999 — — — 999 Cash dividends and distributions paid, and contributions received (547 ) (17 ) (749 ) 677 (636 ) Other, net (13 ) (37 ) (14 ) 49 (15 ) Net cash provided by (used in) financing activities 782 1,654 1,310 (1,539 ) 2,207 Net decrease in cash and cash equivalents — — (126 ) — (126 ) Cash and cash equivalents at beginning of period — 1 463 — 464 Cash and cash equivalents at end of period $ — $ 1 $ 337 $ — $ 338 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Nine Months Ended September 30, 2014 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Cash flow from operating activities: Net income (loss) $ 1,544 $ 111 $ 2,744 $ (2,409 ) $ 1,990 Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities: Depreciation, depletion and amortization 3 673 2,269 (21 ) 2,924 Impairment of oil and gas properties — 625 — (317 ) 308 Net losses on crude oil and natural gas derivative contracts — 56 — — 56 Net gain (loss) on early extinguishment of debt 1 (64 ) — — (63 ) Equity in (earnings) losses of consolidated subsidiaries (1,754 ) (637 ) 4 2,387 — Other, net 87 (17 ) (73 ) — (3 ) Changes in working capital and other tax payments (217 ) (1,166 ) 684 — (699 ) Net cash (used in) provided by operating activities (336 ) (419 ) 5,628 (360 ) 4,513 Cash flow from investing activities: Capital expenditures — (1,771 ) (3,644 ) — (5,415 ) Acquisition of Deepwater GOM interests — — (1,421 ) — (1,421 ) Intercompany loans 1,151 734 — — (1,885 ) — (Investments in) dividends from consolidated subsidiaries (959 ) (97 ) (696 ) 1,752 — Net proceeds from sale of Eagle Ford shale assets — 2,971 — — 2,971 Other, net — 32 189 — 221 Net cash provided by (used in) investing activities 192 1,869 (5,572 ) (133 ) (3,644 ) Cash flow from financing activities: Proceeds from debt 2,806 — 540 — 3,346 Repayments of debt (1,686 ) (1,996 ) (514 ) — (4,196 ) Intercompany loans — 213 (2,098 ) 1,885 — Cash dividends and distributions paid, and contributions received (979 ) 336 691 (1,392 ) (1,344 ) Other, net 3 (2 ) (3 ) — (2 ) Net cash provided by (used in) financing activities 144 (1,449 ) (1,384 ) 493 (2,196 ) Net increase (decrease) in cash and cash equivalents — 1 (1,328 ) — (1,327 ) Cash and cash equivalents at beginning of period — — 1,985 — 1,985 Cash and cash equivalents at end of period $ — $ 1 $ 657 $ — $ 658

General Information (Unaudite27

General Information (Unaudited) (Details) $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended	9 Months Ended
	Oct. 31, 2015	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Jun. 30, 2015$ / bbl	Sep. 30, 2015USD ($)$ / bbl	Sep. 30, 2014USD ($)
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Fair Value Inputs, Discount Rate					10.00%
Impairment of oil and gas properties		$ (3,652)	$ (308)		$ (9,442)	$ (308)
Accumulated Costs Related to Unproved Properties Transferred to Full Cost Pool		837
Restructuring Costs and Asset Impairment Charges		$ 36
Crude Oil [Member]
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Average Sales Prices | $ / bbl				71.68	59.21
Tyrone [Member]
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Reduction in Operating Rates, Percent		50.00%
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)		$ 59
El Abra [Member]
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Reduction in Operating Rates, Percent		50.00%
Henderson [Member]
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Reduction in Operating Rates, Percent		35.00%
Subsequent Event [Member] | Sierrita [Member]
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Reduction in Operating Rates, Percent	50.00%

Acquisitions and Dispositions28

Acquisitions and Dispositions (Unaudited) (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended	9 Months Ended
	Sep. 30, 2014	Jun. 30, 2014	Sep. 30, 2014	Sep. 08, 2014	Jun. 20, 2014
Business Acquisition [Line Items]
Income Tax Expense (Benefit), Changes in Deferred Tax Liabilities and Deferred Tax Asset Valuation Allowances			$ 62
Eagle Ford [Member]
Business Acquisition [Line Items]
Disposal Date		Jun. 20, 2014
Business Combination, Consideration Transferred		$ 3,100
Effective Date		Apr. 1, 2014
Income Tax Expense (Benefit), Changes in Deferred Tax Liabilities and Deferred Tax Asset Valuation Allowances		$ 62
Adjustment to Goodwill		221
Escrow Deposit Disbursements Related to Property Acquisition					$ 1,300
Deepwater Gulf of Mexico Interests [Member]
Business Acquisition [Line Items]
Business Combination, Consideration Transferred	$ 496	$ 918
Effective Date	Sep. 8, 2014	Jun. 30, 2014
Escrow Deposit Disbursements Related to Property Acquisition				$ 414
Business Combination, Adjustment to Recognized Identifiable Assets Acquired and Liabilities Assumed Oil and Gas Properties Subject to Depletion	$ 509	$ 451
Business Combination, Adjustment to Recognized Identifiable Assets Acquired and Liabilities Assumed Oil and Gas Properties Not Subject to Depletion		477
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Asset Retirement Costs		$ 10

Earnings Per Share (Unaudited29

Earnings Per Share (Unaudited) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Earnings Per Share [Abstract]
Net (loss) income		$ (3,790)	$ 704	$ (7,995)	$ 1,990
Net income attributable to noncontrolling interests		(29)	(142)	(129)	(416)
Preferred dividends on redeemable noncontrolling interest		(11)	(10)	(31)	(30)
Undistributed earnings allocable to participating securities		(3)	(2)	(3)	(4)
Net (loss) income allocable to common stockholders		$ (3,833)	$ 550	$ (8,158)	$ 1,540
Basic weighted-average shares of common stock outstanding		1,071	1,039	1,050	1,039
Add shares issuable upon exercise or vesting of dilutive stock options and RSUs	[1]	0	7	0	6
Diluted weighted-average shares of common stock outstanding		1,071	1,046	1,050	1,045
Basic net (loss) income per share attributable to common stockholders		$ (3.58)	$ 0.53	$ (7.77)	$ 1.48
Diluted net (loss) income per share attributable to common stockholders		$ (3.58)	$ 0.53	$ (7.77)	$ 1.47
Potential anti-dilutive additional shares of common stock (in shares)		7	5	10	3
Outstanding stock options with exercise prices greater than average market price of common stock (in shares)		48	25	45	28
[1]	Excludes approximately 7 million shares of common stock for third-quarter 2015, 5 million for third-quarter 2014, 10 million for the nine months ended September 30, 2015, and 3 million for the nine months ended September 30, 2014, associated with outstanding stock options with exercise prices less than the average market price of FCX's common stock and RSUs that were anti-dilutive.

Inventories, Including Long-T30

Inventories, Including Long-Term Mill and Leach Stockpiles (Unaudited) (Details) - USD ($) $ in Millions		3 Months Ended	9 Months Ended
		Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Components of Inventories [Line Items]
Raw materials (primarily concentrates)		$ 281	$ 281		$ 288
Work-in-process		102	102		174
Finished goods		996	996		1,099
Total product inventories		1,379	1,379		1,561
Total mill and leach stockpiles		1,895	1,895		1,914
Total materials and supplies, net	[1]	2,071	2,071		1,886
Total long-term mill and leach stockpiles		2,326	2,326		2,179
Inventory obsolescence reserves		26	26		20
Lower of cost or market inventory adjustments		(91)	(154)	$ 0
Current [Member]
Components of Inventories [Line Items]
Mill stockpiles		118	118		86
Leach stockpiles		1,777	1,777		1,828
Total mill and leach stockpiles		1,895	1,895		1,914
Long-Term [Member]
Components of Inventories [Line Items]
Mill stockpiles		444	444		360
Leach stockpiles		1,882	1,882		1,819
Total long-term mill and leach stockpiles	[2]	2,326	2,326		$ 2,179
Molybdenum [Member]
Components of Inventories [Line Items]
Lower of cost or market inventory adjustments		(37)	(89)
Copper [Member]
Components of Inventories [Line Items]
Lower of cost or market inventory adjustments		$ (54)	$ (65)
[1]	Materials and supplies inventory was net of obsolescence reserves totaling $26 million at September 30, 2015, and $20 million at December 31, 2014.
[2]	Estimated metals in stockpiles not expected to be recovered within the next 12 months.

Income Taxes (Unaudited) (Detai

Income Taxes (Unaudited) (Details) - USD ($) $ in Millions	3 Months Ended				9 Months Ended
	Sep. 30, 2015		Sep. 30, 2014		Sep. 30, 2015		Sep. 30, 2014
Income Tax Disclosure [Abstract]
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability			$ 54				$ 54
U.S. operations	$ 309	[1]	(38)		$ 2,020	[1]	(323)	[2]
International operations	51		(311)	[3]	(278)		(711)	[3]
Total	360		$ (349)		$ 1,742		(1,034)
Income Tax Expense (Benefit), Changes in Deferred Tax Liabilities and Deferred Tax Asset Valuation Allowances							$ 62
Consolidated effective income tax rate (percent)					18.00%		34.00%
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	$ 1,200				$ 2,000
Tax benefit related to the impairment of international properties					$ 56
Effective Income Tax Rate, Adjusted, Percent	38.00%
[1]	As a result of the impairment to U.S. oil and gas properties, FCX recorded tax charges of $1.2 billion for third-quarter 2015 and $2.0 billion for the first nine months of 2015 to establish a valuation allowance primarily against U.S. federal alternative minimum tax credits and foreign tax credits, partly offset by a tax benefit of $56 million related to the impairment of the Morocco oil and gas properties. Excluding these charges, FCX's consolidated effective income tax rate was 38 percent for the first nine months of 2015.
[2]	FCX recognized a $62 million charge for deferred taxes recorded in connection with the allocation of goodwill to the sale of Eagle Ford shale assets.
[3]	Included a $54 million charge related to changes in Chilean tax rules.

Debt and Equity Transactions 32

Debt and Equity Transactions (Unaudited) (Details) - USD ($)	3 Months Ended			9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Jul. 23, 2014	Apr. 30, 2014
Extinguishment of Debt [Line Items]
Long-term Debt, Gross	$ 20,700,000,000			$ 20,700,000,000
Liabilities, Fair Value Adjustment				218,000,000
Debt Instrument, Unamortized Discount (Premium), Net	20,000,000			20,000,000
Unamortized Debt Issuance Expense	111,000,000			111,000,000		$ 121,000,000
Net gain on early extinguishment of debt	0	$ 58,000,000		0	$ 63,000,000
Bank Term Loan [Member]
Extinguishment of Debt [Line Items]
Debt Instrument, Face Amount	4,000,000,000			4,000,000,000
Long-term Debt, Maturities, Repayments of Principal in Year Two	205,000,000			205,000,000		650,000,000
Long-term Debt, Maturities, Repayments of Principal in Year Three	272,000,000			272,000,000		200,000,000
Long-term Debt, Maturities, Repayments of Principal in Year Four	1,000,000,000			1,000,000,000		$ 2,200,000,000
Long-term Debt, Maturities, Repayments of Principal in Year Five	313,000,000			313,000,000
Long-term Debt, Maturities, Repayments of Principal after Year Five	1,300,000,000			1,300,000,000
Credit Facility [Domain] | Revolving Credit Facility [Member]
Extinguishment of Debt [Line Items]
Long-term Debt, Gross	458,000,000			458,000,000
Letters of Credit Issued, Amount	42,000,000			42,000,000
Line of Credit Facility, Remaining Borrowing Capacity	3,500,000,000			3,500,000,000
Line Of Credit Facility Remaining Borrowing Capacity Available For Letters Of Credit	1,500,000,000			1,500,000,000
Senior Notes [Member] | 6.625% Senior Notes due 2021 [Member]
Extinguishment of Debt [Line Items]
Extinguishment of Debt, Amount			$ 210,000,000
Debt Instrument, Interest Rate, Stated Percentage								6.625%
Net gain on early extinguishment of debt			$ 6,000,000
Cerro Verde [Member] | Credit Facility [Domain]
Extinguishment of Debt [Line Items]
Long-term Debt, Gross	1,500,000,000			1,500,000,000
Letters of Credit Issued, Amount	0			0
Line of Credit Facility, Remaining Borrowing Capacity	301,000,000			301,000,000
Line of Credit Facility, Maximum Borrowing Capacity	1,800,000,000			$ 1,800,000,000
Term of Debt Agreement				5 years
Cerro Verde [Member] | Shareholder Loan [Member]
Extinguishment of Debt [Line Items]
Long-term Debt, Gross	100,000,000			$ 100,000,000
Debt Instrument, Face Amount	800,000,000			$ 800,000,000
Debt Instrument, Description of Variable Rate Basis				London Interbank Offered Rate plus the current spread on Cerro Verde’s senior unsecured committed credit facility
Debt Instrument, Basis Spread on Variable Rate				0.50%
Debt Instrument, Maturity Date				Dec. 22, 2019
Related Party Transaction, Due from (to) Related Party	$ 57,000,000			$ 57,000,000
Freeport-McMoRan Oil & Gas [Member]
Extinguishment of Debt [Line Items]
Net gain on early extinguishment of debt		58,000,000			$ 64,000,000
Freeport-McMoRan Oil & Gas [Member] | Senior Notes [Member]
Extinguishment of Debt [Line Items]
Long-term Debt, Gross							$ 1,800,000,000
Liabilities, Fair Value Adjustment		167,000,000
Extinguishment of Debt, Amount		1,700,000,000
Net gain on early extinguishment of debt		58,000,000
Freeport-McMoRan Oil & Gas [Member] | Senior Notes [Member] | 6.125% Senior Notes due 2019 [Member]
Extinguishment of Debt [Line Items]
Extinguishment of Debt, Amount		263,000,000
Debt Instrument, Interest Rate, Stated Percentage							6.125%
Freeport-McMoRan Oil & Gas [Member] | Senior Notes [Member] | 6.5% Senior Notes due 2020 [Member]
Extinguishment of Debt [Line Items]
Extinguishment of Debt, Amount		525,000,000
Debt Instrument, Interest Rate, Stated Percentage							6.50%
Freeport-McMoRan Oil & Gas [Member] | Senior Notes [Member] | 6.75% Senior Notes due 2022 [Member]
Extinguishment of Debt [Line Items]
Extinguishment of Debt, Amount		350,000,000
Debt Instrument, Interest Rate, Stated Percentage							6.75%
Freeport-McMoRan Oil & Gas [Member] | Senior Notes [Member] | 6.875% Senior Notes due 2023 [Member]
Extinguishment of Debt [Line Items]
Extinguishment of Debt, Amount		$ 525,000,000
Debt Instrument, Interest Rate, Stated Percentage							6.875%

Debt and Equity Transactions 33

Debt and Equity Transactions (Unaudited) Interest, Dividends and Maturities (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Nov. 05, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Oct. 30, 2015
Capitalized Interest [Line Items]
Interest costs incurred		$ 217	$ 212	$ 642	$ 661
Common Stock, Value of Shares Authorized for Issue in Transaction				$ 1,000
Stock Issued During Period, Shares, New Issues				98,000,000
Shares Issued, Price Per Share		$ 10.35		$ 10.35
Proceeds from Issuance of Common Stock, Gross				$ 1,010
Proceeds from Issuance of Common Stock				999	$ 0
Fees and Commissions				$ 10
Entity Common Stock, Shares Outstanding						1,155,870,213
Dividends Payable, Date Declared				Sep. 30, 2015
Dividends declared per share of common stock		$ 0.05	$ 0.3125	$ 0.2605	$ 0.9375
Dividends Payable, Date to be Paid		Nov. 2, 2015
Dividends Payable, Date of Record		Oct. 15, 2015
Property, Plant, Equipment and Mining Development Costs, Net [Member]
Capitalized Interest [Line Items]
Interest costs capitalized		$ 42	$ 34	$ 134	$ 113
Oil and Gas Properties Not Subject to Amortization [Member]
Capitalized Interest [Line Items]
Interest costs capitalized		$ 12	$ 20	$ 50	$ 65
Subsequent Event [Member]
Capitalized Interest [Line Items]
Common Stock, Value of Shares Authorized for Issue in Transaction	$ 1,000
Stock Issued During Period, Shares, New Issues	34,100,000
Shares Issued, Price Per Share	$ 12.15
Proceeds from Issuance of Common Stock, Gross	$ 414
Proceeds from Issuance of Common Stock	410
Fees and Commissions	$ 4

Financial Instruments (Unaudi34

Financial Instruments (Unaudited) (Details) - Commodity Contract [Member] - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Fair Value Hedging [Member] | Sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative financial instruments		$ (2)	$ (10)	$ 0	$ (10)
Hedged item – firm sales commitments		2	10	0	10
Matured derivative financial instruments		(12)	1	(23)	(3)
Derivatives not designated as hedging instruments [Member] | Embedded derivatives in provisional sales contracts [Member] | Sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized and unrealized gains (losses)	[1]	(170)	(99)	(320)	(184)
Derivatives not designated as hedging instruments [Member] | Copper forward contracts [Member] | Amounts recorded in Cost of Sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized and unrealized gains (losses)	[2]	(8)	(4)	(15)	1
Derivatives not designated as hedging instruments [Member] | Plains Exploration & Production Company [Member] | Crude Oil Options [Member] | Sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized and unrealized gains (losses)	[1]	29	57	87	(47)
Derivatives not designated as hedging instruments [Member] | Plains Exploration & Production Company [Member] | Natural gas swaps [Member] | Sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized and unrealized gains (losses)	[1]	$ 0	$ 7	$ 0	$ (9)
[1]	Amounts recorded in revenues.
[2]	Amounts recorded in cost of sales as production and delivery costs.

Financial Instruments (Unaudi35

Financial Instruments (Unaudited) Not Designated as Hedging Instruments (Details) oz in Thousands, lb in Millions	9 Months Ended
	Sep. 30, 2015lboz$ / lb$ / oz
Embedded derivatives in provisional sales contracts - Copper [Member] | Derivatives not designated as hedging instruments [Member]
Derivative [Line Items]
Open positions (in lbs except gold in oz) | lb	536
Average contract price	2.45
Average market price	2.34
Maturities through	Mar. 31, 2016
Embedded derivatives in provisional sales contracts - Gold [Member] | Derivatives not designated as hedging instruments [Member]
Derivative [Line Items]
Open positions (in lbs except gold in oz) | oz	149
Average contract price | $ / oz	1,125
Average market price | $ / oz	1,118
Maturities through	Dec. 31, 2015
Embedded derivatives in provisional purchase contracts - Copper [Member] | Derivatives not designated as hedging instruments [Member]
Derivative [Line Items]
Open positions (in lbs except gold in oz) | lb	87
Average contract price	2.45
Average market price	2.35
Maturities through	Jan. 31, 2016
Atlantic Copper [Member] | Copper forward contracts [Member] | Derivatives not designated as hedging instruments [Member]
Derivative [Line Items]
Open positions (in lbs except gold in oz) | lb	4
Average contract price	2.31
Maturities through	Nov. 30, 2015
Copper futures and swap contracts [Member] | Fair Value Hedging [Member] | Derivatives designated as hedging instruments [Member]
Derivative [Line Items]
Open positions (in lbs except gold in oz) | lb	59
Average contract price	2.46
Maturities through	Sep. 30, 2017

Financial Instruments (Unaudi36

Financial Instruments (Unaudited) Oil and Gas (Details) MMBTU in Millions, $ in Millions		9 Months Ended
		Sep. 30, 2015USD ($)MBblsMMBTU$ / bbl	Dec. 31, 2014USD ($)
Derivative [Line Items]
Derivative Liability | $		$ 74	$ 99
Maximum Price Limit per Barrel		20
2015 Positions [Member] | Derivatives not designated as hedging instruments [Member] | Crude Oil Options [Member]
Derivative [Line Items]
Daily Volumes (Bbls) | MMBTU		7.7
2015 Positions [Member] | Derivatives not designated as hedging instruments [Member] | Crude Oil Options [Member] | 84 MBbls [Member]
Derivative [Line Items]
Daily Volumes (Bbls) | MBbls	[1]	84
Derivative, Average Floor Price	[1],[2]	90
Derivative, Average Floor Price Limit	[1],[2]	70
Derivative, Underlying Basis	[1]	Brent
Deferred Option Premiums and Accrued Interest [Member]
Derivative [Line Items]
Derivative Liability | $		$ 53	$ 210
Weighted Average [Member] | Crude Oil Options [Member]
Derivative [Line Items]
Deferred Premium Price		6.89
Weighted Average [Member] | 2015 Positions [Member] | Derivatives not designated as hedging instruments [Member] | Crude Oil Options [Member] | 84 MBbls [Member]
Derivative [Line Items]
Deferred Premium Price	[1]	6.89
[1]	If the index price is less than the per barrel floor, FCX receives the difference between the per barrel floor and the index price up to a maximum of $20 per barrel less the option premium. If the index price is at or above the per barrel floor, FCX pays the option premium and no cash settlement is received.
[2]	The average strike prices do not reflect any premiums to purchase the put options.

Financial Instruments (Unaudi37

Financial Instruments (Unaudited) Unsettled Derivatives (Details) - USD ($) $ in Millions		Sep. 30, 2015	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Derivative Asset		$ 116	$ 330
Derivative Liability		74	99
Paid to brokers associated with margin requirements		16	10
Trade Accounts Receivable [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset		6	5
Derivative Liability		50	56
Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset		101	316
Derivative Liability		0	0
Accounts Payable and Accrued Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset		9	9
Derivative Liability		24	43
Commodity Contract [Member] | Derivatives not designated as hedging instruments
Derivatives, Fair Value [Line Items]
Asset position		119	331
Liability position		77	100
Derivative Asset, Fair Value, Gross Liability		3	1
Derivative Liability, Fair Value, Gross Asset		3	1
Derivative Asset		116	330
Derivative Liability		74	99
Commodity Contract [Member] | Copper Derivatives [Member] | Derivatives not designated as hedging instruments
Derivatives, Fair Value [Line Items]
Asset position		1	0
Liability position		8	7
Derivative Asset, Fair Value, Gross Liability		1	0
Derivative Liability, Fair Value, Gross Asset		1	0
Derivative Asset		0	0
Derivative Liability		7	7
Commodity Contract [Member] | Copper futures and swap contracts [Member] | Derivatives not designated as hedging instruments
Derivatives, Fair Value [Line Items]
Asset position	[1]	1	0
Liability position	[1]	8	7
Commodity Contract [Member] | Embedded derivatives in provisional sales/purchases contracts [Member] | Derivatives not designated as hedging instruments
Derivatives, Fair Value [Line Items]
Asset position		17	15
Liability position		69	93
Derivative Asset, Fair Value, Gross Liability		2	1
Derivative Liability, Fair Value, Gross Asset		2	1
Derivative Asset		15	14
Derivative Liability		67	92
Commodity Contract [Member] | Crude Oil and Natural Gas Derivatives [Member] | Derivatives not designated as hedging instruments
Derivatives, Fair Value [Line Items]
Asset position		101	316
Liability position		0	0
Derivative Asset, Fair Value, Gross Liability		0	0
Derivative Liability, Fair Value, Gross Asset		0	0
Derivative Asset		101	316
Derivative Liability		0	0
Commodity Contract [Member] | Crude Oil Options [Member] | Derivatives not designated as hedging instruments
Derivatives, Fair Value [Line Items]
Asset position	[2]	101	316
Deferred Option Premiums and Accrued Interest [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability		$ 53	$ 210
[1]	FCX paid $16 million to brokers at September 30, 2015, and $10 million at December 31, 2014, for margin requirements (recorded in other current assets).
[2]	Amounts are net of $53 million at September 30, 2015, and $210 million at December 31, 2014, for deferred premiums and accrued interest.

Financial Instruments (Unaudi38

Financial Instruments (Unaudited) Other Financial Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Cash and Cash Equivalents [Line Items]
Credit Derivative, Maximum Exposure, Undiscounted	$ 146
Cash and cash equivalents	338	$ 464	$ 658	$ 1,985
Time Deposits [Member]
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 44	$ 48

Fair Value Measurement (Unaud39

Fair Value Measurement (Unaudited) (Details) - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2015	Dec. 31, 2014
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Document Period End Date		Sep. 30, 2015
Derivatives:
Derivative assets		$ 116	$ 330
Derivatives:
Derivative Liability		74	99
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Investment securities (current and long-term):
Investment securities	[1],[2]	25	23
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	4	11
Derivatives:
Derivative assets	[2],[5]	1	0
Total assets		30	34
Derivatives:
Derivative Liability	[2],[5]	7	6
Long-term debt, including current portion	[6]	0	0
Total liabilities		7	6
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Investment securities (current and long-term):
Investment securities	[1],[2]	23	23
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	168	161
Derivatives:
Derivative assets	[2],[5]	17	15
Total assets		208	199
Derivatives:
Derivative Liability	[2],[5]	70	94
Long-term debt, including current portion	[6]	17,291	18,735
Total liabilities		17,361	18,829
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Investment securities (current and long-term):
Investment securities	[1],[2]	0	0
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	0	0
Derivatives:
Derivative assets	[2],[5]	101	316
Total assets		101	316
Derivatives:
Derivative Liability	[2],[5]	0	0
Long-term debt, including current portion	[6]	0	0
Total liabilities		0	0
Fair Value, Measurements, Recurring [Member] | Embedded derivatives in provisional sales/purchases contracts [Member] | Fair Value, Inputs, Level 1 [Member]
Derivatives:
Derivative Liability	[2],[5]	0	0
Fair Value, Measurements, Recurring [Member] | Embedded derivatives in provisional sales/purchases contracts [Member] | Fair Value, Inputs, Level 2 [Member]
Derivatives:
Derivative Liability	[2],[5]	69	93
Fair Value, Measurements, Recurring [Member] | Embedded derivatives in provisional sales/purchases contracts [Member] | Fair Value, Inputs, Level 3 [Member]
Derivatives:
Derivative Liability	[2],[5]	0	0
Fair Value, Measurements, Recurring [Member] | Copper futures and swap contracts [Member] | Fair Value, Inputs, Level 1 [Member]
Derivatives:
Derivative Liability	[2],[5]	7	6
Fair Value, Measurements, Recurring [Member] | Copper futures and swap contracts [Member] | Fair Value, Inputs, Level 2 [Member]
Derivatives:
Derivative Liability	[2],[5]	1	1
Fair Value, Measurements, Recurring [Member] | Copper futures and swap contracts [Member] | Fair Value, Inputs, Level 3 [Member]
Derivatives:
Derivative Liability	[2],[5]	0	0
Fair Value, Measurements, Recurring [Member] | U.S. core fixed income fund [Member] | Fair Value, Inputs, Level 1 [Member]
Investment securities (current and long-term):
Investment securities	[1],[2]	0	0
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	0	0
Fair Value, Measurements, Recurring [Member] | U.S. core fixed income fund [Member] | Fair Value, Inputs, Level 2 [Member]
Investment securities (current and long-term):
Investment securities	[1],[2]	23	23
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	52	52
Fair Value, Measurements, Recurring [Member] | U.S. core fixed income fund [Member] | Fair Value, Inputs, Level 3 [Member]
Investment securities (current and long-term):
Investment securities	[1],[2]	0	0
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	0	0
Fair Value, Measurements, Recurring [Member] | Money market funds [Member] | Fair Value, Inputs, Level 1 [Member]
Investment securities (current and long-term):
Investment securities	[1],[2]	22	20
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	4	11
Fair Value, Measurements, Recurring [Member] | Money market funds [Member] | Fair Value, Inputs, Level 2 [Member]
Investment securities (current and long-term):
Investment securities	[1],[2]	0	0
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	0	0
Fair Value, Measurements, Recurring [Member] | Money market funds [Member] | Fair Value, Inputs, Level 3 [Member]
Investment securities (current and long-term):
Investment securities	[1],[2]	0	0
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	0	0
Fair Value, Measurements, Recurring [Member] | Collateralized mortgage-backed securities [Member] | Fair Value, Inputs, Level 1 [Member]
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	0	0
Fair Value, Measurements, Recurring [Member] | Collateralized mortgage-backed securities [Member] | Fair Value, Inputs, Level 2 [Member]
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	8	6
Fair Value, Measurements, Recurring [Member] | Collateralized mortgage-backed securities [Member] | Fair Value, Inputs, Level 3 [Member]
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	0	0
Fair Value, Measurements, Recurring [Member] | Equity securities [Member] | Fair Value, Inputs, Level 1 [Member]
Investment securities (current and long-term):
Investment securities	[1],[2]	3	3
Fair Value, Measurements, Recurring [Member] | Equity securities [Member] | Fair Value, Inputs, Level 2 [Member]
Investment securities (current and long-term):
Investment securities	[1],[2]	0	0
Fair Value, Measurements, Recurring [Member] | Equity securities [Member] | Fair Value, Inputs, Level 3 [Member]
Investment securities (current and long-term):
Investment securities	[1],[2]	0	0
Fair Value, Measurements, Recurring [Member] | Government bonds and notes [Member] | Fair Value, Inputs, Level 1 [Member]
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	0	0
Fair Value, Measurements, Recurring [Member] | Government bonds and notes [Member] | Fair Value, Inputs, Level 2 [Member]
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	41	39
Fair Value, Measurements, Recurring [Member] | Government bonds and notes [Member] | Fair Value, Inputs, Level 3 [Member]
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	0	0
Fair Value, Measurements, Recurring [Member] | Government mortgage-backed securities [Member] | Fair Value, Inputs, Level 1 [Member]
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	0	0
Fair Value, Measurements, Recurring [Member] | Government mortgage-backed securities [Member] | Fair Value, Inputs, Level 2 [Member]
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	28	19
Fair Value, Measurements, Recurring [Member] | Government mortgage-backed securities [Member] | Fair Value, Inputs, Level 3 [Member]
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	0	0
Fair Value, Measurements, Recurring [Member] | Corporate bonds [Member] | Fair Value, Inputs, Level 1 [Member]
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	0	0
Fair Value, Measurements, Recurring [Member] | Corporate bonds [Member] | Fair Value, Inputs, Level 2 [Member]
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	26	27
Fair Value, Measurements, Recurring [Member] | Corporate bonds [Member] | Fair Value, Inputs, Level 3 [Member]
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	0	0
Fair Value, Measurements, Recurring [Member] | Asset-backed securities [Member] | Fair Value, Inputs, Level 1 [Member]
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	0	0
Fair Value, Measurements, Recurring [Member] | Asset-backed securities [Member] | Fair Value, Inputs, Level 2 [Member]
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	12	17
Fair Value, Measurements, Recurring [Member] | Asset-backed securities [Member] | Fair Value, Inputs, Level 3 [Member]
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	0	0
Fair Value, Measurements, Recurring [Member] | Municipal bonds [Member] | Fair Value, Inputs, Level 1 [Member]
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	0	0
Fair Value, Measurements, Recurring [Member] | Municipal bonds [Member] | Fair Value, Inputs, Level 2 [Member]
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	1	1
Fair Value, Measurements, Recurring [Member] | Municipal bonds [Member] | Fair Value, Inputs, Level 3 [Member]
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	0	0
Fair Value, Measurements, Recurring [Member] | Embedded derivatives in provisional sales/purchases contracts [Member] | Fair Value, Inputs, Level 1 [Member]
Derivatives:
Derivative assets	[2],[5]	0	0
Fair Value, Measurements, Recurring [Member] | Embedded derivatives in provisional sales/purchases contracts [Member] | Fair Value, Inputs, Level 2 [Member]
Derivatives:
Derivative assets	[2],[5]	17	15
Fair Value, Measurements, Recurring [Member] | Embedded derivatives in provisional sales/purchases contracts [Member] | Fair Value, Inputs, Level 3 [Member]
Derivatives:
Derivative assets	[2],[5]	0	0
Fair Value, Measurements, Recurring [Member] | Crude oil options [Member] | Fair Value, Inputs, Level 1 [Member]
Derivatives:
Derivative assets	[2],[5]	0	0
Fair Value, Measurements, Recurring [Member] | Crude oil options [Member] | Fair Value, Inputs, Level 2 [Member]
Derivatives:
Derivative assets	[2],[5]	0	0
Fair Value, Measurements, Recurring [Member] | Crude oil options [Member] | Fair Value, Inputs, Level 3 [Member]
Derivatives:
Derivative assets	[2],[5]	101	316
Fair Value, Measurements, Recurring [Member] | Copper futures and swap contracts [Member] | Fair Value, Inputs, Level 1 [Member]
Derivatives:
Derivative assets	[2],[5]	1
Fair Value, Measurements, Recurring [Member] | Copper futures and swap contracts [Member] | Fair Value, Inputs, Level 2 [Member]
Derivatives:
Derivative assets	[2],[5]	0
Fair Value, Measurements, Recurring [Member] | Copper futures and swap contracts [Member] | Fair Value, Inputs, Level 3 [Member]
Derivatives:
Derivative assets	[2],[5]	0
Deferred Option Premiums and Accrued Interest [Member]
Derivatives:
Derivative Liability		53	210
Other Current Assets [Member]
Derivatives:
Derivative assets		101	316
Derivatives:
Derivative Liability		0	0
Reported Value Measurement [Member] | Fair Value, Measurements, Recurring [Member]
Investment securities (current and long-term):
Investment securities	[1],[2]	48	46
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	172	172
Derivatives:
Derivative assets	[2],[5]	119	331
Derivatives:
Derivative Liability	[2],[5]	77	100
Long-term debt, including current portion	[6]	20,698	18,849
Reported Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Embedded derivatives in provisional sales/purchases contracts [Member]
Derivatives:
Derivative Liability	[2],[5]	69	93
Reported Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Copper futures and swap contracts [Member]
Derivatives:
Derivative Liability	[2],[5]	8	7
Reported Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | U.S. core fixed income fund [Member]
Investment securities (current and long-term):
Investment securities	[1],[2]	23	23
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	52	52
Reported Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Money market funds [Member]
Investment securities (current and long-term):
Investment securities	[1],[2]	22	20
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	4	11
Reported Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Collateralized mortgage-backed securities [Member]
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	8	6
Reported Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Equity securities [Member]
Investment securities (current and long-term):
Investment securities	[1],[2]	3	3
Reported Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Government bonds and notes [Member]
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	41	39
Reported Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Government mortgage-backed securities [Member]
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	28	19
Reported Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Corporate bonds [Member]
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	26	27
Reported Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Asset-backed securities [Member]
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	12	17
Reported Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Municipal bonds [Member]
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	1	1
Reported Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Embedded derivatives in provisional sales/purchases contracts [Member]
Derivatives:
Derivative assets	[2],[5]	17	15
Reported Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Crude oil options [Member]
Derivatives:
Derivative assets	[2],[5]	101	316
Reported Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Copper futures and swap contracts [Member]
Derivatives:
Derivative assets	[2],[5]	1
Reported Value Measurement [Member] | Other Current Assets [Member] | Fair Value, Measurements, Recurring [Member] | Time Deposits [Member]
Investment securities (current and long-term):
Investment securities		30	17
Reported Value Measurement [Member] | Other Assets [Member] | Fair Value, Measurements, Recurring [Member] | Time Deposits [Member]
Derivatives:
Escrow Deposit Disbursements Related to Property Acquisition		117	115
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member]
Investment securities (current and long-term):
Investment securities	[1],[2]	48	46
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	172	172
Derivatives:
Derivative assets	[2],[5]	119	331
Total assets		339	549
Derivatives:
Derivative Liability	[2],[5]	77	100
Long-term debt, including current portion	[6]	17,291	18,735
Total liabilities		17,368	18,835
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Embedded derivatives in provisional sales/purchases contracts [Member]
Derivatives:
Derivative Liability	[2],[5]	69	93
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Copper futures and swap contracts [Member]
Derivatives:
Derivative Liability	[2],[5]	8	7
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | U.S. core fixed income fund [Member]
Investment securities (current and long-term):
Investment securities	[1],[2]	23	23
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	52	52
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Money market funds [Member]
Investment securities (current and long-term):
Investment securities	[1],[2]	22	20
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	4	11
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Collateralized mortgage-backed securities [Member]
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	8	6
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Equity securities [Member]
Investment securities (current and long-term):
Investment securities	[1],[2]	3	3
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Government bonds and notes [Member]
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	41	39
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Government mortgage-backed securities [Member]
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	28	19
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Corporate bonds [Member]
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	26	27
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Asset-backed securities [Member]
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	12	17
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Municipal bonds [Member]
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	1	1
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Embedded derivatives in provisional sales/purchases contracts [Member]
Derivatives:
Derivative assets	[2],[5]	17	15
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Crude oil options [Member]
Derivatives:
Derivative assets	[2],[5]	101	316
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Copper futures and swap contracts [Member]
Derivatives:
Derivative assets	[2],[5]	1
Smelter Development [Member] | Reported Value Measurement [Member] | Other Current Assets [Member] | Fair Value, Measurements, Recurring [Member] | Time Deposits [Member]
Investment securities (current and long-term):
Investment securities		20
Reclamation Guarantee [Member] | Reported Value Measurement [Member] | Other Current Assets [Member] | Fair Value, Measurements, Recurring [Member] | Time Deposits [Member]
Investment securities (current and long-term):
Investment securities		$ 10	8
Customs Audit Assessment [Member] | Reported Value Measurement [Member] | Other Current Assets [Member] | Fair Value, Measurements, Recurring [Member] | Time Deposits [Member]
Investment securities (current and long-term):
Investment securities			$ 9
[1]	Current portion included in other current assets and long-term portion included in other assets.
[2]	Recorded at fair value.
[3]	Excludes time deposits (which approximated fair value) included in other assets of $117 million at September 30, 2015, and $115 million at December 31, 2014, associated with an assurance bond to support PT-FI's commitment for smelter development in Indonesia.
[4]	Excludes time deposits (which approximated fair value) included in other current assets of $30 million at September 30, 2015, associated with PT-FI's commitment for smelter development in Indonesia of $20 million and a reclamation guarantee at PT-FI of $10 million. Excludes time deposits of $17 million at December 31, 2014, associated with a customs audit assessment at PT-FI of $9 million and a reclamation guarantee at PT-FI of $8 million.
[5]	Refer to Note 7 for further discussion and balance sheet classifications. Crude oil options are net of $53 million at September 30, 2015, and $210 million at December 31, 2014, for deferred premiums and accrued interest.
[6]	Recorded at cost except for debt assumed in acquisitions, which were recorded at fair value at the respective acquisition dates.

Fair Value Measurement (Unaud40

Fair Value Measurement (Unaudited) Unobservable Inputs (Details) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)$ / bbl
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative Asset	$ 330
Derivative Asset	116
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative Asset	316	[1],[2]
Derivative Asset	101	[1],[2]
Crude Oil Options [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative Asset	316
Net realized gains	50	[3]
Net unrealized gains included in earnings related to assets and liabilities still held at the end of the period	36
Net settlement (receipts) payments	301	[4]
Derivative Asset	$ 101
Crude Oil Options [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Assumptions, Implied Volatilities	38.00%
Crude Oil Options [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Assumptions, Implied Volatilities	66.00%
Crude Oil Options [Member] | Weighted Average [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Deferred Premium Price | $ / bbl	6.89
Crude Oil Options [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Assumptions, Implied Volatilities	49.00%
Sales [Member] | Crude Oil Options [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized gains	$ 51
Interest Expense [Member] | Crude Oil Options [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized gains	(1)	[3]
Net settlement (receipts) payments	$ 3
[1]	Recorded at fair value.
[2]	Refer to Note 7 for further discussion and balance sheet classifications. Crude oil options are net of $53 million at September 30, 2015, and $210 million at December 31, 2014, for deferred premiums and accrued interest.
[3]	Includes net realized gains of $51 million, partially offset by $1 million of interest expense associated with the deferred premiums.
[4]	Includes interest payments of $3 million.

Contingencies and Commitments41

Contingencies and Commitments (Unaudited) (Details) - PT Freeport Indonesia [Member] IDR in Trillions	Oct. 31, 2015USD ($)	Oct. 31, 2015IDR	Sep. 30, 2015USD ($)
Loss Contingencies [Line Items]
Income Tax Examination, Penalties Accrued			$ 0
Subsequent Event [Member]
Loss Contingencies [Line Items]
Assessment By Foreign Government Of Alleged Obligations	$ 177,000,000
Assessment By Foreign Government of Alleged Obligations, Expressed in Foreign Currency | IDR		IDR 2.6

Business Segments (Unaudited)42

Business Segments (Unaudited) (Details) - USD ($) $ in Millions		3 Months Ended				9 Months Ended
		Sep. 30, 2015		Sep. 30, 2014		Sep. 30, 2015		Sep. 30, 2014		Dec. 31, 2014
Revenues:
Unaffiliated customers		$ 3,681		$ 5,696		$ 12,082		$ 16,203
Intersegment		0		0		0		0
Production and delivery		2,893		3,152		8,653		8,971
Depreciation, depletion and amortization		888		945		2,717		2,924
Impairment of oil and gas properties		3,652		308		9,442		308
Selling, general and administrative expenses		124		158		429		457
Mining exploration and research expenses		32		29		101		93
Environmental obligations and shutdown costs		37		18		61		100
Net gain on sales of assets		0		(46)		(39)		(46)
Operating income (loss)		(3,945)		1,132		(9,282)		3,396
Interest expense, net		163		158		458		483
Provision for (benefit from) income taxes		(360)		349		(1,742)		1,034
Total Assets		50,383		63,875		50,383		63,875		$ 58,674
Capital expenditures		1,527		1,853		$ 5,055		5,415
Document Period End Date						Sep. 30, 2015
Lower of cost or market inventory adjustments		(91)				$ (154)		0
Mining Operations [Member]
Revenues:
Unaffiliated customers		3,155		4,706		10,487		12,716
Intersegment		0		0		0		0
Production and delivery		2,598		2,880		7,789		8,060
Depreciation, depletion and amortization		434		438		1,241		1,178
Impairment of oil and gas properties		0		0		0		0
Selling, general and administrative expenses		37		43		118		123
Mining exploration and research expenses		32		29		101		93
Environmental obligations and shutdown costs		36		18		60		100
Net gain on sales of assets				(46)		(39)		(46)
Operating income (loss)		18		1,344		1,217		3,208
Interest expense, net		23		24		69		69
Provision for (benefit from) income taxes		29		359		236		668
Total Assets		38,200		38,049		38,200		38,049
Capital expenditures		846		937		2,540		3,010
North America Copper Mines [Member]
Revenues:
Unaffiliated customers		223		219		716		410
Intersegment		946		1,271		3,193		3,835
Production and delivery		1,028	[1]	902		2,933	[2]	2,558
Depreciation, depletion and amortization		136		133		408		368
Impairment of oil and gas properties		0		0		0		0
Selling, general and administrative expenses		1		1		4		3
Mining exploration and research expenses		1		2		6		6
Environmental obligations and shutdown costs		3		(5)		3		(5)
Net gain on sales of assets				(14)		(39)		(14)
Operating income (loss)		0		471		594		1,329
Interest expense, net		1		1		3		3
Provision for (benefit from) income taxes		0		0		0		0
Total Assets		8,879		9,431		8,879		9,431
Capital expenditures		94		188		308		815
Charges to Cost of Sales for Inventory Adjustments, Asset Impairments and Restructuring		(133)				(144)
Morenci [Member]
Revenues:
Unaffiliated customers		165		140		451		215
Intersegment		332		428		1,209		1,346
Production and delivery		357		341		1,117		936
Depreciation, depletion and amortization		51		51		157		128
Impairment of oil and gas properties		0		0		0		0
Selling, general and administrative expenses		1		0		2		1
Mining exploration and research expenses		0		0		0		0
Environmental obligations and shutdown costs		0		0		0		0
Net gain on sales of assets				0		0		0
Operating income (loss)		88		176		384		496
Interest expense, net		1		1		2		2
Provision for (benefit from) income taxes		0		0		0		0
Total Assets		3,720		3,689		3,720		3,689
Capital expenditures		61		158		224		691
Other North America Copper Mines [Member]
Revenues:
Unaffiliated customers		58		79		265		195
Intersegment		614		843		1,984		2,489
Production and delivery		671		561		1,816		1,622
Depreciation, depletion and amortization		85		82		251		240
Impairment of oil and gas properties		0		0		0		0
Selling, general and administrative expenses		0		1		2		2
Mining exploration and research expenses		1		2		6		6
Environmental obligations and shutdown costs		3		(5)		3		(5)
Net gain on sales of assets				(14)		(39)		(14)
Operating income (loss)		(88)		295		210		833
Interest expense, net		0		0		1		1
Provision for (benefit from) income taxes		0		0		0		0
Total Assets		5,159		5,742		5,159		5,742
Capital expenditures		33		30		84		124
South America Mines [Member]
Revenues:
Unaffiliated customers		425		736		1,320		2,383
Intersegment		13		111		57		393
Production and delivery		344		471		1,004		1,477
Depreciation, depletion and amortization		89		102		236		284
Impairment of oil and gas properties		0		0		0		0
Selling, general and administrative expenses		1		1		3		5
Mining exploration and research expenses		0		0		0		0
Environmental obligations and shutdown costs		0		0		0		0
Net gain on sales of assets				0		0		0
Operating income (loss)		4		273		134		1,010
Interest expense, net		0		1		1		1
Provision for (benefit from) income taxes		2		142		32		409
Total Assets		10,979		10,727		10,979		10,727
Capital expenditures		437		439		1,339		1,278
Cerro Verde [Member]
Revenues:
Unaffiliated customers		238		295		681		996
Intersegment		13		63		64		150
Production and delivery		177		178		540		538
Depreciation, depletion and amortization		57		41		134		120
Impairment of oil and gas properties		0		0		0		0
Selling, general and administrative expenses		1		0		2		2
Mining exploration and research expenses		0		0		0		0
Environmental obligations and shutdown costs		0		0		0		0
Net gain on sales of assets				0		0		0
Operating income (loss)		16		139		69		486
Interest expense, net		0		1		1		1
Provision for (benefit from) income taxes		0		47		0		177
Total Assets		9,136		7,006		9,136		7,006
Capital expenditures		421		416		1,296		1,207
Other South America Mines [Member]
Revenues:
Unaffiliated customers		187	[3]	441	[3]	639	[4]	1,387	[4]
Intersegment		0	[3]	48	[3]	(7)	[4],[5]	243	[4]
Production and delivery		167	[1],[3]	293	[3]	464	[2],[4]	939	[4]
Depreciation, depletion and amortization		32	[3]	61	[3]	102	[4]	164	[4]
Impairment of oil and gas properties		0	[3]	0	[3]	0	[4]	0	[4]
Selling, general and administrative expenses		0	[3]	1	[3]	1	[4]	3	[4]
Mining exploration and research expenses		0	[3]	0	[3]	0	[4]	0	[4]
Environmental obligations and shutdown costs		0	[3]	0	[3]	0	[4]	0	[4]
Net gain on sales of assets				0	[3]	0	[4]	0	[4]
Operating income (loss)		(12)	[3]	134	[3]	65	[4]	524	[4]
Interest expense, net		0	[3]	0	[3]	0	[4]	0	[4]
Provision for (benefit from) income taxes		2	[3]	95	[3]	32	[4]	232	[4]
Total Assets	[3]	1,843		3,721		1,843		3,721
Capital expenditures		16	[3]	23	[3]	43	[4]	71	[4]
Charges to Cost of Sales for Inventory Adjustments, Asset Impairments and Restructuring		(11)				(11)
Indonesia - Grasberg [Member]
Revenues:
Unaffiliated customers		557	[6]	1,086	[6]	1,969	[7]	2,071	[7]
Intersegment		52		167		37		175
Production and delivery		417		700		1,311		1,594
Depreciation, depletion and amortization		90		92		238		194
Impairment of oil and gas properties		0		0		0		0
Selling, general and administrative expenses		24		27		74		73
Mining exploration and research expenses		0		0		0		0
Environmental obligations and shutdown costs		0		0		0		0
Net gain on sales of assets				0		0		0
Operating income (loss)		78		434		383		385
Interest expense, net		0		0		0		0
Provision for (benefit from) income taxes		21		181		145		166
Total Assets		8,965		8,537		8,965		8,537
Capital expenditures		222		243		660		722
Africa - Tenke [Member]
Revenues:
Unaffiliated customers		299		379		991		1,071
Intersegment		29		49		98		102
Production and delivery		209		206		634		556
Depreciation, depletion and amortization		65		58		195		172
Impairment of oil and gas properties		0		0		0		0
Selling, general and administrative expenses		2		3		8		9
Mining exploration and research expenses		0		0		0		0
Environmental obligations and shutdown costs		0		0		0		0
Net gain on sales of assets				0		0		0
Operating income (loss)		52		161		252		436
Interest expense, net		0		0		0		0
Provision for (benefit from) income taxes		6		36		59		93
Total Assets		5,100		5,010		5,100		5,010
Capital expenditures		69		40		166		100
Molybdenum mines [Member]
Revenues:
Unaffiliated customers		0		0		0		0
Intersegment		83		173		298		469
Production and delivery		86	[1]	86		253	[2]	243
Depreciation, depletion and amortization		26		25		77		71
Impairment of oil and gas properties		0		0		0		0
Selling, general and administrative expenses		0		0		0		0
Mining exploration and research expenses		0		0		0		0
Environmental obligations and shutdown costs		0		0		0		0
Net gain on sales of assets				0		0		0
Operating income (loss)		(29)		62		(32)		155
Interest expense, net		0		0		0		0
Provision for (benefit from) income taxes		0		0		0		0
Total Assets		2,017		2,089		2,017		2,089
Capital expenditures		3		12		10		45
Charges to Cost of Sales for Inventory Adjustments, Asset Impairments and Restructuring		(5)				(8)
Rod & Refining [Member]
Revenues:
Unaffiliated customers		946		1,219		3,097		3,599
Intersegment		5		8		20		24
Production and delivery		946		1,220		3,097		3,601
Depreciation, depletion and amortization		2		2		7		7
Impairment of oil and gas properties		0		0		0		0
Selling, general and administrative expenses		0		0		0		0
Mining exploration and research expenses		0		0		0		0
Environmental obligations and shutdown costs		0		0		0		0
Net gain on sales of assets				0		0		0
Operating income (loss)		3		5		13		15
Interest expense, net		0		0		0		0
Provision for (benefit from) income taxes		0		0		0		0
Total Assets		235		282		235		282
Capital expenditures		1		1		2		3
Atlantic Copper Smelting & Refining [Member]
Revenues:
Unaffiliated customers		438		597		1,473		1,808
Intersegment		1		4		12		15
Production and delivery		410		578		1,397		1,784
Depreciation, depletion and amortization		10		11		29		31
Impairment of oil and gas properties		0		0		0		0
Selling, general and administrative expenses		4		4		13		13
Mining exploration and research expenses		0		0		0		0
Environmental obligations and shutdown costs		0		0		0		0
Net gain on sales of assets				0		0		0
Operating income (loss)		15		8		46		(5)
Interest expense, net		3		3		8		10
Provision for (benefit from) income taxes		0		0		0		0
Total Assets		699		948		699		948
Capital expenditures		10		3		18		9
Other Mining & Eliminations [Member]
Revenues:
Unaffiliated customers	[8]	267		470		921		1,374
Intersegment		(1,129)		(1,783)		(3,715)		(5,013)
Production and delivery		(842)	[1]	(1,283)		(2,840)	[2]	(3,753)
Depreciation, depletion and amortization		16		15		51		51
Impairment of oil and gas properties		0		0		0		0
Selling, general and administrative expenses		5		7		16		20
Mining exploration and research expenses		31		27		95		87
Environmental obligations and shutdown costs		33		23		57		105
Net gain on sales of assets				(32)		0		(32)
Operating income (loss)		(105)		(70)		(173)		(117)
Interest expense, net		19		19		57		55
Provision for (benefit from) income taxes		0		0		0		0
Total Assets		1,326		1,025		1,326		1,025
Capital expenditures		10		11		37		38
Charges to Cost of Sales for Inventory Adjustments, Asset Impairments and Restructuring		(35)				(84)
U.S. Oil & Gas Operations [Member]
Revenues:
Unaffiliated customers		525	[9]	990	[9]	1,594	[10],[11]	3,487	[10],[11]
Intersegment		0		0		0	[11]	0	[11]
Production and delivery		293		273		857	[11]	913	[11]
Depreciation, depletion and amortization		450		504		1,465	[11]	1,736	[11]
Impairment of oil and gas properties		3,480		308		9,270	[11]	308	[11]
Selling, general and administrative expenses		37		55		140	[11]	171	[11]
Mining exploration and research expenses		0		0		0	[11]	0	[11]
Environmental obligations and shutdown costs		0		0		0	[11]	0	[11]
Net gain on sales of assets				0		0	[11]	0	[11]
Operating income (loss)		(3,735)		(150)		(10,138)	[11]	359	[11]
Interest expense, net		51		51		129	[11]	201	[11]
Provision for (benefit from) income taxes		0		0		0	[11]	0	[11]
Total Assets		11,911		25,328		11,911		25,328
Capital expenditures		635	[12]	908	[12]	2,430	[11],[13]	2,392	[11],[13]
Corporate, Other & Eliminations [Member]
Revenues:
Unaffiliated customers		1		0		1		0
Intersegment		0		0		0		0
Production and delivery		2	[1]	(1)		7	[2]	(2)
Depreciation, depletion and amortization		4		3		11		10
Impairment of oil and gas properties		172	[14]	0		172	[14]	0
Selling, general and administrative expenses		50		60		171		163
Mining exploration and research expenses		0		0		0		0
Environmental obligations and shutdown costs		1		0		1		0
Net gain on sales of assets				0		0		0
Operating income (loss)		(228)		(62)		(361)		(171)
Interest expense, net		89		83		260		213
Provision for (benefit from) income taxes		(389)		(10)		(1,978)		366
Total Assets		272		498		272		498
Capital expenditures		46		8		85		13
Charges to Cost of Sales for Inventory Adjustments, Asset Impairments and Restructuring		(2)				(2)
Crude oil and natural gas swaps [Member]
Revenues:
Net mark-to-market gains (losses) on derivative contracts		29		64		$ 87		(56)
Pt Smelting [Member]
Segment Reporting Information [Line Items]
Deferred Intercompany Profit, Percentage						25.00%
Revenues:
Revenues		$ 61		628		$ 704		1,500
Equity Method Investment, Ownership Percentage		25.00%				25.00%
Morocco | Corporate, Other & Eliminations [Member]
Revenues:
Capital expenditures		$ 37	[12]	$ 7	[12]	$ 81	[13]	$ 7	[13]
[1]	Includes charges totaling $133 million at North America copper mines for inventory adjustments, impairments and restructuring, $11 million at other South America mines for restructuring, $5 million at Molybdenum mines and $35 million at other mining & eliminations for inventory adjustments and restructuring, and $2 million for restructuring at corporate, other & eliminations.
[2]	Includes charges totaling $144 million at North America copper mines for inventory adjustments, impairments and restructuring, $11 million at other South America mines for restructuring, $8 million at Molybdenum mines and $84 million at other mining & eliminations for inventory adjustments and restructuring, and $2 million for restructuring at corporate, other & eliminations.
[3]	Third-quarter 2014 includes the results of the Candelaria and Ojos del Salado mining operations, which were sold in November 2014.
[4]	For the first nine months of 2014 Other South America Mines include the results of the Candelaria and Ojos del Salado mining operations, which were sold in November 2014.
[5]	Includes net reductions for provisional pricing adjustments to prior period open sales. There were no intersegment sales from El Abra for the first nine months of 2015.
[6]	Includes PT-FI’s sales to PT Smelting totaling $61 million in third-quarter 2015 and $628 million in third-quarter 2014.
[7]	Includes PT-FI’s sales to PT Smelting totaling $704 million for the first nine months of 2015 and $1.5 billion for the first nine months of 2014.
[8]	Includes revenues from FCX's molybdenum sales company, which includes sales of molybdenum produced by the Molybdenum mines and by certain of the North and South America copper mines.
[9]	Includes net mark-to-market gains associated with crude oil and natural gas derivative contracts totaling $29 million in third-quarter 2015 and $64 million in third-quarter 2014.
[10]	Includes net mark-to-market gains (losses) associated with crude oil and natural gas derivative contracts totaling $87 million for the first nine months 2015 and $(56) million for the first nine months of 2014.
[11]	The first nine months of 2014 include the results from Eagle Ford, which was sold in June 2014.
[12]	Excludes capital expenditures totaling $37 million in third-quarter 2015 and $7 million in third-quarter 2014 primarily related to the Morocco oil and gas properties, which are included in corporate, other & eliminations.
[13]	Excludes capital expenditures totaling $81 million for the first nine months of 2015 and $7 million for the first nine months of 2014 primarily related to the Morocco oil and gas properties, which are included in corporate, other & eliminations.
[14]	Primarily includes impairment charges for Morocco oil and gas properties.

Guarantor Financial Statement43

Guarantor Financial Statements (Unaudited) (Details)	Sep. 30, 2015
FM O&G LLC Guarantor [Member]
Debt Instrument [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent	100.00%

Guarantor Financial Statement44

Guarantor Financial Statements (Unaudited) Condensed Consolidating Balance Sheets (Details) - USD ($) $ in Millions		Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
ASSETS
Current assets		$ 8,155	$ 9,045
Property, plant, equipment and mining development costs, net		27,355	26,220
Oil and gas properties, net - full cost method
Subject to amortization, less accumulated amortization		3,002	9,187
Not subject to amortization		7,568	10,087
Investments in consolidated subsidiaries		0	0
Other assets		4,303	4,135
Total assets		50,383	58,674	$ 63,875
LIABILITIES AND EQUITY
Current liabilities		4,827	5,172
Long-term debt, less current portion		19,792	18,371
Deferred income taxes		4,363	6,398
Environmental and asset retirement obligations, less current portion		3,708	3,647
Other liabilities		1,727	1,861
Total liabilities		34,417	35,449
Redeemable noncontrolling interest		761	751
Equity:
Stockholders' equity		10,946	18,287
Noncontrolling interests		4,259	4,187
Total equity		15,205	22,474
Total liabilities and equity		50,383	58,674
FCX Issuer [Member]
ASSETS
Current assets		139	323
Property, plant, equipment and mining development costs, net		27	22
Oil and gas properties, net - full cost method
Subject to amortization, less accumulated amortization		0	0
Not subject to amortization		0	0
Investments in consolidated subsidiaries		23,276	28,765
Other assets		8,426	8,914
Total assets		31,868	38,024
LIABILITIES AND EQUITY
Current liabilities		4,546	1,592
Long-term debt, less current portion		15,256	14,930
Deferred income taxes	[1]	1,067	3,161
Environmental and asset retirement obligations, less current portion		0	0
Other liabilities		53	54
Total liabilities		20,922	19,737
Redeemable noncontrolling interest		0	0
Equity:
Stockholders' equity		10,946	18,287
Noncontrolling interests		0	0
Total equity		10,946	18,287
Total liabilities and equity		31,868	38,024
FM O&G LLC Guarantor [Member]
ASSETS
Current assets		3,619	2,635
Property, plant, equipment and mining development costs, net		55	46
Oil and gas properties, net - full cost method
Subject to amortization, less accumulated amortization		1,020	3,296
Not subject to amortization		1,648	2,447
Investments in consolidated subsidiaries		0	6,460
Other assets		4,918	3,947
Total assets		11,260	18,831
LIABILITIES AND EQUITY
Current liabilities		522	560
Long-term debt, less current portion		5,560	3,874
Deferred income taxes		0	0
Environmental and asset retirement obligations, less current portion		322	302
Other liabilities		3,361	3,372
Total liabilities		9,765	8,108
Redeemable noncontrolling interest		0	0
Equity:
Stockholders' equity		1,495	10,723
Noncontrolling interests		0	0
Total equity		1,495	10,723
Total liabilities and equity		11,260	18,831
Non-Guarantor Subsidiaries [Member]
ASSETS
Current assets		10,291	8,659
Property, plant, equipment and mining development costs, net		27,273	26,152
Oil and gas properties, net - full cost method
Subject to amortization, less accumulated amortization		1,980	5,907
Not subject to amortization		5,914	7,640
Investments in consolidated subsidiaries		1,495	10,246
Other assets		4,232	4,061
Total assets		51,185	62,665
LIABILITIES AND EQUITY
Current liabilities		5,641	5,592
Long-term debt, less current portion		10,553	8,879
Deferred income taxes		3,296	3,237
Environmental and asset retirement obligations, less current portion		3,386	3,345
Other liabilities		1,805	1,910
Total liabilities		24,681	22,963
Redeemable noncontrolling interest		761	751
Equity:
Stockholders' equity		22,018	35,268
Noncontrolling interests		3,725	3,683
Total equity		25,743	38,951
Total liabilities and equity		51,185	62,665
Eliminations [Member]
ASSETS
Current assets		(5,894)	(2,572)
Property, plant, equipment and mining development costs, net		0	0
Oil and gas properties, net - full cost method
Subject to amortization, less accumulated amortization		2	(16)
Not subject to amortization		6	0
Investments in consolidated subsidiaries		(24,771)	(45,471)
Other assets		(13,273)	(12,787)
Total assets		(43,930)	(60,846)
LIABILITIES AND EQUITY
Current liabilities		(5,882)	(2,572)
Long-term debt, less current portion		(11,577)	(9,312)
Deferred income taxes		0	0
Environmental and asset retirement obligations, less current portion		0	0
Other liabilities		(3,492)	(3,475)
Total liabilities		(20,951)	(15,359)
Redeemable noncontrolling interest		0	0
Equity:
Stockholders' equity		(23,513)	(45,991)
Noncontrolling interests		534	504
Total equity		(22,979)	(45,487)
Total liabilities and equity		$ (43,930)	$ (60,846)
[1]	All U.S. related deferred income taxes are recorded at the parent company.

Guarantor Financial Statement45

Guarantor Financial Statements (Unaudited) Condensed Consolidating Statements of Income (Details) - USD ($) $ in Millions	3 Months Ended				9 Months Ended
	Sep. 30, 2015		Sep. 30, 2014		Sep. 30, 2015		Sep. 30, 2014
Document Period End Date					Sep. 30, 2015
Revenues	$ 3,681		$ 5,696		$ 12,082		$ 16,203
Total costs and expenses	7,626		4,564		21,364		12,807
Operating (loss) income	(3,945)		1,132		(9,282)		3,396
Interest expense, net	(163)		(158)		(458)		(483)
Net gain on early extinguishment of debt	0		58		0		63
Other income (expense), net	(40)		23		4		48
(Loss) income before income taxes and equity in affiliated companies' net losses	(4,148)		1,055		(9,736)		3,024
Benefit from (provision for) income taxes	360		(349)		1,742		(1,034)
Equity in affiliated companies' net (losses) earnings	(2)		(2)		(1)		0
Net (loss) income	(3,790)		704		(7,995)		1,990
Net income and preferred dividends attributable to noncontrolling interests	(40)		(152)		(160)		(446)
Net (loss) income attributable to common stockholders	(3,830)		552		(8,155)		1,544
Other comprehensive income (loss)	14		7		35		11
Total comprehensive (loss) income	(3,816)		559		(8,120)		1,555
Impairment of oil and gas properties	3,652		308		9,442		308
FCX Issuer [Member]
Revenues	0		0		0		0
Total costs and expenses	12		12		47		44
Operating (loss) income	(12)		(12)		(47)		(44)
Interest expense, net	(123)		(99)		(359)		(268)
Net gain on early extinguishment of debt			0				(1)
Other income (expense), net	31		15		187		52
(Loss) income before income taxes and equity in affiliated companies' net losses	(104)		(96)		(219)		(261)
Benefit from (provision for) income taxes	(1,283)		46		(1,969)		51
Equity in affiliated companies' net (losses) earnings	(2,443)		602		(5,967)		1,754
Net (loss) income	(3,830)		552		(8,155)		1,544
Net income and preferred dividends attributable to noncontrolling interests	0		0		0		0
Net (loss) income attributable to common stockholders	(3,830)		552		(8,155)		1,544
Other comprehensive income (loss)	14		7		35		11
Total comprehensive (loss) income	(3,816)		559		(8,120)		1,555
Impairment of oil and gas properties					0		0
FM O&G LLC Guarantor [Member]
Revenues	158		370		508		1,584
Total costs and expenses	1,874	[1]	916	[2]	4,409	[3]	1,931	[4]
Operating (loss) income	(1,716)		(546)		(3,901)		(347)
Interest expense, net	(1)		(38)		(7)		(123)
Net gain on early extinguishment of debt			58				64
Other income (expense), net	0		0		0		1
(Loss) income before income taxes and equity in affiliated companies' net losses	(1,717)		(526)		(3,908)		(405)
Benefit from (provision for) income taxes	714		(104)		1,504		(121)
Equity in affiliated companies' net (losses) earnings	(2,237)		381		(6,516)		637
Net (loss) income	(3,240)		(249)		(8,920)		111
Net income and preferred dividends attributable to noncontrolling interests	0		0		0		0
Net (loss) income attributable to common stockholders	(3,240)		(249)		(8,920)		111
Other comprehensive income (loss)	0		0		0		0
Total comprehensive (loss) income	(3,240)		(249)		(8,920)		111
Impairment of oil and gas properties	1,658		625		3,710		625
Non-Guarantor Subsidiaries [Member]
Revenues	3,523		5,326		11,574		14,619
Total costs and expenses	5,742	[1]	3,966		16,923	[3]	11,170
Operating (loss) income	(2,219)		1,360		(5,349)		3,449
Interest expense, net	(78)		(37)		(202)		(146)
Net gain on early extinguishment of debt			0				0
Other income (expense), net	(35)		24		(83)		49
(Loss) income before income taxes and equity in affiliated companies' net losses	(2,332)		1,347		(5,634)		3,352
Benefit from (provision for) income taxes	931		(166)		2,217		(836)
Equity in affiliated companies' net (losses) earnings	(2,445)		(111)		(8,947)		228
Net (loss) income	(3,846)		1,070		(12,364)		2,744
Net income and preferred dividends attributable to noncontrolling interests	(39)		(130)		(133)		(421)
Net (loss) income attributable to common stockholders	(3,885)		940		(12,497)		2,323
Other comprehensive income (loss)	14		7		35		11
Total comprehensive (loss) income	(3,871)		947		(12,462)		2,334
Impairment of oil and gas properties	1,967				5,684		0
Eliminations [Member]
Revenues	0		0		0		0
Total costs and expenses	(2)		(330)	[2]	(15)		(338)	[4]
Operating (loss) income	2		330		15		338
Interest expense, net	39		16		110		54
Net gain on early extinguishment of debt			0				0
Other income (expense), net	(36)		(16)		(100)		(54)
(Loss) income before income taxes and equity in affiliated companies' net losses	5		330		25		338
Benefit from (provision for) income taxes	(2)		(125)		(10)		(128)
Equity in affiliated companies' net (losses) earnings	7,123		(874)		21,429		(2,619)
Net (loss) income	7,126		(669)		21,444		(2,409)
Net income and preferred dividends attributable to noncontrolling interests	(1)		(22)		(27)		(25)
Net (loss) income attributable to common stockholders	7,125		(691)		21,417		(2,434)
Other comprehensive income (loss)	(14)		(7)		(35)		(11)
Total comprehensive (loss) income	$ 7,111		(698)		21,382		(2,445)
Impairment of oil and gas properties			$ (317)		$ 48		$ (317)
[1]	Includes charges totaling $1.7 billion at the FM O&G LLC guarantor and $2.0 billion at the non-guarantor subsidiaries related to impairment of FCX's oil and gas properties pursuant to full cost accounting rules.
[2]	Includes charges totaling $0.6 billion at the FM O&G LLC guarantor and $(0.3) billion of eliminations related to impairment of FCX's oil and gas properties pursuant to full cost accounting rules.
[3]	Includes charges totaling $3.7 billion at the FM O&G LLC guarantor and $5.7 billion at the non-guarantor subsidiaries related to impairment of FCX's oil and gas properties pursuant to full cost accounting rules.
[4]	Includes charges totaling $0.6 billion at the FM O&G LLC guarantor and $(0.3) billion of eliminations related to impairment of FCX's oil and gas properties pursuant to full cost accounting rules.

Guarantor Financial Statement46

Guarantor Financial Statements (Unaudited) Condensed Consolidating Statements of Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Cash flow from operating activities:
Net (loss) income	$ (3,790)	$ 704	$ (7,995)	$ 1,990
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation, depletion and amortization	888	945	2,717	2,924
Impairment of oil and gas properties	3,652	308	9,442	308
Net (gains) losses on crude oil and natural gas derivative contracts			(87)	56
Net gain (loss) on early extinguishment of debt	0	(58)	0	(63)
Equity in losses (earnings) of consolidated subsidiaries			1	0
Other, net			(1,812)	(3)
Changes in working capital and other tax payments			342	(699)
Net cash provided by operating activities			2,608	4,513
Cash flow from investing activities:
Capital expenditures	(1,527)	(1,853)	(5,055)	(5,415)
Acquisitions of Deepwater Gulf of Mexico interests			0	(1,421)
Intercompany loans			0	0
Dividends from (investments in) consolidated subsidiaries			(2)	0
Net proceeds from sale of Eagle Ford shale assets			0	2,971
Other, net			116	221
Net cash used in investing activities			(4,941)	(3,644)
Cash flow from financing activities:
Proceeds from debt			6,552	3,346
Repayments of debt			(4,693)	(4,196)
Intercompany loans			0	0
Net proceeds from sale of common Stock			999	0
Cash dividends and distributions paid, and contributions received			(636)	(1,344)
Other, net			(15)	(2)
Net cash provided by (used in) financing activities			2,207	(2,196)
Net decrease in cash and cash equivalents			(126)	(1,327)
Cash and cash equivalents at beginning of year			464	1,985
Cash and cash equivalents at end of period	338	658	338	658
FCX Issuer [Member]
Cash flow from operating activities:
Net (loss) income	(3,830)	552	(8,155)	1,544
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation, depletion and amortization			3	3
Impairment of oil and gas properties			0	0
Net (gains) losses on crude oil and natural gas derivative contracts			0	0
Net gain (loss) on early extinguishment of debt		0		1
Equity in losses (earnings) of consolidated subsidiaries			5,967	(1,754)
Other, net			(1,953)	87
Changes in working capital and other tax payments			4,001	(217)
Net cash provided by operating activities			(137)	(336)
Cash flow from investing activities:
Capital expenditures			(7)	0
Acquisitions of Deepwater Gulf of Mexico interests				0
Intercompany loans			(1,310)	1,151
Dividends from (investments in) consolidated subsidiaries			693	(959)
Net proceeds from sale of Eagle Ford shale assets				0
Other, net			(21)	0
Net cash used in investing activities			(645)	192
Cash flow from financing activities:
Proceeds from debt			3,893	2,806
Repayments of debt			(3,550)	(1,686)
Intercompany loans			0	0
Net proceeds from sale of common Stock			999
Cash dividends and distributions paid, and contributions received			(547)	(979)
Other, net			(13)	3
Net cash provided by (used in) financing activities			782	144
Net decrease in cash and cash equivalents			0	0
Cash and cash equivalents at beginning of year			0	0
Cash and cash equivalents at end of period	0	0	0	0
FM O&G LLC Guarantor [Member]
Cash flow from operating activities:
Net (loss) income	(3,240)	(249)	(8,920)	111
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation, depletion and amortization			303	673
Impairment of oil and gas properties	1,658	625	3,710	625
Net (gains) losses on crude oil and natural gas derivative contracts			(87)	56
Net gain (loss) on early extinguishment of debt		(58)		(64)
Equity in losses (earnings) of consolidated subsidiaries			6,516	(637)
Other, net			2	(17)
Changes in working capital and other tax payments			(1,213)	(1,166)
Net cash provided by operating activities			311	(419)
Cash flow from investing activities:
Capital expenditures			(959)	(1,771)
Acquisitions of Deepwater Gulf of Mexico interests				0
Intercompany loans			(955)	734
Dividends from (investments in) consolidated subsidiaries			(49)	(97)
Net proceeds from sale of Eagle Ford shale assets				2,971
Other, net			(2)	32
Net cash used in investing activities			(1,965)	1,869
Cash flow from financing activities:
Proceeds from debt			0	0
Repayments of debt			0	(1,996)
Intercompany loans			1,708	213
Net proceeds from sale of common Stock			0
Cash dividends and distributions paid, and contributions received			(17)	336
Other, net			(37)	(2)
Net cash provided by (used in) financing activities			1,654	(1,449)
Net decrease in cash and cash equivalents			0	1
Cash and cash equivalents at beginning of year			1	0
Cash and cash equivalents at end of period	1	1	1	1
Non-Guarantor Subsidiaries [Member]
Cash flow from operating activities:
Net (loss) income	(3,846)	1,070	(12,364)	2,744
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation, depletion and amortization			2,474	2,269
Impairment of oil and gas properties	1,967		5,684	0
Net (gains) losses on crude oil and natural gas derivative contracts			0	0
Net gain (loss) on early extinguishment of debt		0		0
Equity in losses (earnings) of consolidated subsidiaries			8,947	4
Other, net			139	(73)
Changes in working capital and other tax payments			(2,457)	684
Net cash provided by operating activities			2,423	5,628
Cash flow from investing activities:
Capital expenditures			(4,079)	(3,644)
Acquisitions of Deepwater Gulf of Mexico interests				(1,421)
Intercompany loans			0	0
Dividends from (investments in) consolidated subsidiaries			102	(696)
Net proceeds from sale of Eagle Ford shale assets				0
Other, net			118	189
Net cash used in investing activities			(3,859)	(5,572)
Cash flow from financing activities:
Proceeds from debt			2,659	540
Repayments of debt			(1,143)	(514)
Intercompany loans			557	(2,098)
Net proceeds from sale of common Stock			0
Cash dividends and distributions paid, and contributions received			(749)	691
Other, net			(14)	(3)
Net cash provided by (used in) financing activities			1,310	(1,384)
Net decrease in cash and cash equivalents			(126)	(1,328)
Cash and cash equivalents at beginning of year			463	1,985
Cash and cash equivalents at end of period	337	657	337	657
Eliminations [Member]
Cash flow from operating activities:
Net (loss) income	7,126	(669)	21,444	(2,409)
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation, depletion and amortization			(63)	(21)
Impairment of oil and gas properties		(317)	48	(317)
Net (gains) losses on crude oil and natural gas derivative contracts			0	0
Net gain (loss) on early extinguishment of debt		0		0
Equity in losses (earnings) of consolidated subsidiaries			(21,429)	2,387
Other, net			0	0
Changes in working capital and other tax payments			11	0
Net cash provided by operating activities			11	(360)
Cash flow from investing activities:
Capital expenditures			(10)	0
Acquisitions of Deepwater Gulf of Mexico interests				0
Intercompany loans			2,265	(1,885)
Dividends from (investments in) consolidated subsidiaries			(748)	1,752
Net proceeds from sale of Eagle Ford shale assets				0
Other, net			21	0
Net cash used in investing activities			1,528	(133)
Cash flow from financing activities:
Proceeds from debt			0	0
Repayments of debt			0	0
Intercompany loans			(2,265)	1,885
Net proceeds from sale of common Stock			0
Cash dividends and distributions paid, and contributions received			677	(1,392)
Other, net			49	0
Net cash provided by (used in) financing activities			(1,539)	493
Net decrease in cash and cash equivalents			0	0
Cash and cash equivalents at beginning of year			0	0
Cash and cash equivalents at end of period	$ 0	$ 0	$ 0	$ 0

New Accounting Standard (Unau47

New Accounting Standard (Unaudited) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
New Accounting Standards [Abstract]
Unamortized Debt Issuance Expense	$ 111	$ 121