Freeport-McMoRan (FCX) 10-Q 5 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - USD ($) $ in Billions	6 Months Ended
	Jun. 30, 2016	Jul. 29, 2016	Jun. 30, 2015
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			$ 19.1
Entity Common Stock, Shares Outstanding		1,328,258,134
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions		Jun. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents		$ 352	$ 195
Trade accounts receivable		694	660
Income and other tax receivables		916	1,341
Other accounts receivable		102	154
Inventories:
Mill and leach stockpiles		1,348	1,539
Materials and supplies, net	[1]	1,338	1,594
Product		1,058	1,071
Other current assets		226	164
Assets held for sale		4,666	744
Total current assets		10,700	7,462
Property, plant, equipment and mining development costs, net		23,609	24,248
Oil and gas properties, net - full cost method
Subject to amortization, less accumulated amortization and impairment		1,381	2,262
Not subject to amortization		1,656	4,831
Long-term mill and leach stockpiles		1,742	1,663
Other assets		2,208	2,001
Assets held for sale		0	4,110
Total assets		41,296	46,577
Current liabilities:
Accounts payable and accrued liabilities		2,569	3,255
Current portion of debt		770	649
Current portion of environmental and asset retirement obligations		322	272
Accrued income taxes		55	23
Liabilities held for sale		824	108
Total current liabilities		4,540	4,307
Long-term debt, less current portion		18,549	19,779
Deferred income taxes		3,758	3,607
Environmental and asset retirement obligations, less current portion		3,697	3,717
Other liabilities		1,662	1,641
Liabilities held for sale		0	718
Total liabilities		32,206	33,769
Redeemable noncontrolling interest		771	764
Stockholders’ equity:
Common stock		145	137
Capital in excess of par value		25,105	24,283
Accumulated deficit		(17,049)	(12,387)
Accumulated other comprehensive loss		(488)	(503)
Common stock held in treasury		(3,710)	(3,702)
Total stockholders’ equity		4,003	7,828
Noncontrolling interests		4,316	4,216
Total equity		8,319	12,044
Total liabilities and equity		$ 41,296	$ 46,577
[1]	Materials and supplies inventory was net of obsolescence reserves totaling $29 million at June 30, 2016, and $26 million at December 31, 2015.

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenues	$ 3,334	$ 3,938	$ 6,576	$ 7,709
Cost of sales:
Production and delivery	2,956	2,651	5,455	5,330
Depreciation, depletion and amortization	632	833	1,294	1,699
Impairment of oil and gas properties	291	2,686	4,078	5,790
Total cost of sales	3,879	6,170	10,827	12,819
Selling, general and administrative expenses	160	148	298	299
Mining exploration and research expenses	15	30	33	57
Environmental obligations and shutdown costs	11	11	21	24
Net gain on sales of assets	(749)	0	(749)	(39)
Total costs and expenses	3,316	6,359	10,430	13,160
Operating income (loss)	18	(2,421)	(3,854)	(5,451)
Interest expense, net	(196)	(142)	(387)	(281)
Net gain on early extinguishment of debt	39	0	36	0
Other income, net	25	36	64	43
Loss before income taxes and equity in affiliated companies' net earnings	(114)	(2,527)	(4,141)	(5,689)
(Provision for) benefit from income taxes	(116)	699	(193)	1,413
Equity in affiliated companies’ net earnings	1	0	8	1
Net loss from continuing operations	(229)	(1,828)	(4,326)	(4,275)
Net (loss) income from discontinued operations	(181)	29	(185)	70
Net loss	(410)	(1,799)	(4,511)	(4,205)
Net income attributable to noncontrolling interests:
Continuing operations	(47)	(16)	(109)	(48)
Discontinued operations	(12)	(26)	(22)	(52)
Preferred dividends attributable to redeemable noncontrolling interest	(10)	(10)	(21)	(20)
Net loss attributable to common stockholders	$ (479)	$ (1,851)	$ (4,663)	$ (4,325)
Basic and diluted net (loss) income per share attributable to common stockholders:
Continuing operations	$ (0.23)	$ (1.78)	$ (3.54)	$ (4.18)
Discontinued operations	(0.15)	0	(0.16)	0.02
Basic and diluted net (loss) income per share attributable to common stockholders:	$ (0.38)	$ (1.78)	$ (3.70)	$ (4.16)
Basic and diluted weighted-average common shares outstanding	1,269	1,040	1,260	1,040
Dividends declared per share of common stock	$ 0	$ 0.1605	$ 0	$ 0.2105

Consolidated Statements of Comp

Consolidated Statements of Comprehensive (Loss) Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Net loss	$ (410)	$ (1,799)	$ (4,511)	$ (4,205)
Other comprehensive income, net of taxes:
Unrealized gains on securities	1	0	1	0
Defined benefit plans:
Amortization of unrecognized amounts included in net periodic benefit costs	15	8	23	16
Foreign exchange (losses) gains	(1)	1	(10)	5
Other comprehensive income	15	9	14	21
Total comprehensive loss	(395)	(1,790)	(4,497)	(4,184)
Total comprehensive income attributable to noncontrolling interests	(59)	(42)	(130)	(100)
Preferred dividends attributable to redeemable noncontrolling interest	(10)	(10)	(21)	(20)
Total comprehensive loss attributable to common stockholders	$ (464)	$ (1,842)	$ (4,648)	$ (4,304)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash flow from operating activities:
Net loss	$ (4,511)	$ (4,205)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, depletion and amortization	1,374	1,829
Impairment of oil and gas properties	4,078	5,790
Non-cash oil and gas drillship settlements/idle rig costs	612	0
Oil and gas inventory adjustments and write downs	82	23
Mining inventory adjustments	7	63
Net gain on sales of assets	(749)	(39)
Net charges for environmental and asset retirement obligations, including accretion	107	109
Payments for environmental and asset retirement obligations	(116)	(81)
Net gain on early extinguishment of debt	(36)	0
Deferred income taxes	169	(1,432)
Estimated loss on disposal of discontinued operations	177	0
Increase in long-term mill and leach stockpiles	(99)	(104)
Net gains on crude oil derivative contracts	0	(58)
Other, net	53	81
Changes in working capital and other tax payments, excluding amounts from dispositions:
Accounts receivable	259	493
Inventories	190	8
Other current assets	(53)	(1)
Accounts payable and accrued liabilities	44	(205)
Accrued income taxes and changes in other tax payments	26	(485)
Net cash provided by operating activities	1,614	1,786
Capital expenditures:
North America copper mines	(76)	(214)
South America	(293)	(902)
Indonesia	(459)	(438)
Molybdenum mines	(1)	(7)
United States oil and gas operations	(868)	(1,795)
Other	(118)	(172)
Net proceeds from sale of additional interest in Morenci	996	0
Net proceeds from sale of other assets	290	150
Other, net	(6)	(14)
Net cash used in investing activities	(535)	(3,392)
Cash flow from financing activities:
Proceeds from debt	2,811	4,422
Repayments of debt	(3,649)	(2,360)
Net proceeds from sale of common stock	32	0
Cash dividends and distributions paid:
Common stock	(5)	(380)
Noncontrolling interests	(39)	(60)
Stock-based awards net payments, including excess tax benefit	(5)	(7)
Debt financing costs and other, net	(18)	(7)
Net cash (used in) provided by financing activities	(873)	1,608
Net increase in cash and cash equivalents	206	2
Increase in cash and cash equivalents in assets held for sale	(49)	(1)
Cash and cash equivalents at beginning of year	195	317
Cash and cash equivalents at end of period	$ 352	$ 318

Consolidated Statement of Equit

Consolidated Statement of Equity (Unaudited) - 6 months ended Jun. 30, 2016 - 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, 2015	$ 12,044	$ 7,828	$ 137	$ 24,283	$ (12,387)	$ (503)	$ (3,702)	$ 4,216
Balance (in shares) at Dec. 31, 2015			1,374				128
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock	798	798	$ 8	793	0	0	$ (3)	0
Issuance of common stock (in shares)			70				0
Exercised and issued stock-based awards	0	0	$ 0	0	0	0	$ 0	0
Exercised and issued stock-based awards (in shares)			3				0
Stock-based compensation	33	33	$ 0	33	0	0	$ 0	0
Reserve on tax benefit for stock-based awards	(4)	(4)	0	(4)	0	0	0	0
Tender of shares for stock-based awards	(5)	(5)	$ 0	0	0	0	$ (5)	0
Tender of shares for stock-based awards (in shares)			0				1
Dividends on common stock	1	1	$ 0	0	1	0	$ 0	0
Dividends to noncontrolling interests	(25)	0	0	0	0	0	0	(25)
Changes in noncontrolling interests	(5)	0	0	0	0	0	0	(5)
Net loss attributable to common stockholders	(4,663)	(4,663)	0	0	(4,663)	0	0	0
Net income attributable to noncontrolling interests, including discontinued operations	131	0	0	0	0	0	0	131
Other comprehensive income (loss)	14	15	0	0	0	15	0	(1)
Balance at Jun. 30, 2016	$ 8,319	$ 4,003	$ 145	$ 25,105	$ (17,049)	$ (488)	$ (3,710)	$ 4,316
Balance (in shares) at Jun. 30, 2016			1,447				129

General Information (Unaudited)

General Information (Unaudited)	6 Months Ended
	Jun. 30, 2016
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, 2015. 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 accounting for discontinued operations, and the oil and gas properties impairment discussed below and the related tax charges to establish a deferred tax valuation allowance (refer to Note 5 ), all such adjustments are, in the opinion of management, of a normal recurring nature. As a result of FCX's second-quarter 2016 agreement to sell its interest in TF Holdings Limited (TFHL), FCX has reported TFHL as discontinued operations for all periods presented in the unaudited consolidated financial statements (refer to Note 2). Operating results for the six -month period ended June 30, 2016 , are not necessarily indicative of the results that may be expected for the year ending December 31, 2016 . 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 in the full cost pool for impairment 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 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 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.” In addition, following the evaluation of alternatives for the oil and gas business and the current limitations and cost of capital available for future drilling, FCX Oil & Gas Inc. (FM O&G, a wholly owned subsidiary of FCX) determined that the carrying values of certain of its unevaluated properties were impaired. For the first six months of 2016 , FM O&G transferred $3.2 billion of costs (including $3.1 billion in first-quarter 2016) associated with unevaluated properties to the full cost pool, mostly reflecting impairment of the carrying values of unevaluated properties. Combined with the impact of the reduction in twelve-month historical prices, net capitalized costs exceeded the related ceiling test limitation under full cost accounting rules, which resulted in the recognition of a $291 million impairment charge in second-quarter 2016 and $4.1 billion for the first six months of 2016 . The twelve-month average price (using WTI as the reference oil price) was $43.12 per barrel at June 30, 2016 , compared with $46.26 per barrel at March 31, 2016.

Dispositions

Dispositions	6 Months Ended
	Jun. 30, 2016
Discontinued Operations and Disposal Groups [Abstract]
DISPOSITIONS	DISPOSITIONS Timok. On May 2, 2016 , Freeport Minerals Corporation (FMC), a wholly owned subsidiary of FCX, completed the sale of an interest in the Timok exploration project in Serbia to Reservoir Minerals Inc. for consideration of $135 million in cash and contingent consideration of up to $107 million payable to FCX in stages upon achievement of defined development milestones (no amounts were recorded for the contingent consideration as of June 30, 2016). As a result of this transaction, FCX recorded a gain of $133 million in second-quarter 2016. Morenci . On May 31, 2016 , FCX completed the sale of a 13 percent undivided interest in its Morenci unincorporated joint venture to Sumitomo Metal Mining Co., Ltd. (SMM) for $1.0 billion in cash. FCX recorded a $577 million gain on the transaction and used losses to offset cash taxes on the transaction. Proceeds from the transaction were used to repay borrowings under FCX's unsecured bank term loan (Term Loan) and revolving credit facility. The Morenci unincorporated joint venture was owned 85 percent by FCX and 15 percent by Sumitomo Metal Mining Arizona Inc. (Sumitomo). As a result of the transaction, the unincorporated joint venture is owned 72 percent by FCX, 15 percent by Sumitomo and 13 percent by an affiliate that is wholly owned by SMM. Oil and Gas Operations. On June 17, 2016 , FM O&G completed the sale of certain oil and gas royalty interests to Black Stone Minerals, L.P. for cash consideration of $102 million , before closing adjustments. In addition, on July 25, 2016 , FM O&G completed the sale of its Haynesville shale assets for cash consideration of $87 million , before closing adjustments. Under the full cost accounting rules, the proceeds were recorded as a reduction of capitalized oil and gas properties, with no gain or loss recognition. TF Holdings Limited - Discontinued Operations. On May 9, 2016 , FCX entered into a definitive agreement to sell its 70 percent interest in TFHL to China Molybdenum Co., Ltd. (CMOC) for $2.65 billion in cash and contingent consideration of up to $120 million in cash, consisting of $60 million if the average copper price exceeds $3.50 per pound and $60 million if the average cobalt price exceeds $20 per pound, both during calendar years 2018 and 2019 (no amounts were recorded for the contingent consideration as of June 30, 2016). Through its interest in TFHL, FCX has an effective 56 percent interest in Tenke Fungurume Mining S.A. (TFM or Tenke) located in the Democratic Republic of Congo (DRC). The transaction is expected to close in fourth-quarter 2016, subject to regulatory approvals, CMOC shareholder approval and other customary closing conditions. The transaction is also subject to Lundin Mining Corporation’s (Lundin) right of first offer (ROFO), which expires on September 15, 2016 . Lundin holds the remaining 30 percent interest in TFHL. In accordance with the mandatory prepayment provision of FCX's Term Loan, one-half of the proceeds from this transaction must be applied toward repaying FCX's Term Loan. In accordance with accounting guidance, FCX has reported the results of operations of TFHL as discontinued operations in the consolidated statements of operations and presented the assets and liabilities of TFHL as held for sale in the consolidated balance sheets for all periods presented. The consolidated statements of comprehensive loss were not impacted by discontinued operations as TFHL did not have any other comprehensive income, and the consolidated statements of cash flows are reported on a combined basis without separately presenting discontinued operations. The carrying amounts of TFHL's major classes of assets, liabilities and noncontrolling interests, which are presented as held for sale in the consolidated balance sheets, follow (in millions): June 30, December 31, 2015 Assets Cash and cash equivalents $ 78 $ 29 Inventories 1,152 584 Receivables and other current assets 154 131 Property, plant, equipment and mining development costs, net 3,056 — Other assets 226 — Total current assets held for sale $ 4,666 $ 744 Property, plant, equipment and mining development costs, net $ — $ 3,261 Inventories — 608 Other assets — 241 Total long-term assets held for sale $ — $ 4,110 Liabilities Accounts payable and accrued liabilities $ 99 $ 108 Deferred income taxes 679 — Asset retirement obligations and other liabilities 46 — Total current liabilities held for sale $ 824 $ 108 Deferred income taxes $ — $ 681 Asset retirement obligations and other liabilities — 37 Total long-term liabilities held for sale $ — $ 718 Noncontrolling interests $ 1,185 $ 1,178 Net (loss) income from discontinued operations in the consolidated statements of operations consists of the following (in millions): Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Revenues a $ 272 $ 310 $ 558 $ 692 Costs and expenses: Production and delivery costs 256 197 482 430 Depreciation, depletion and amortization 20 b 57 80 b 130 Interest expense allocated from parent c 11 7 21 14 Other costs and expenses, net 5 8 6 17 (Loss) income before income taxes and estimated loss on disposal (20 ) 41 (31 ) 101 Estimated loss on disposal d (177 ) — (177 ) — Net (loss) income before income taxes (197 ) 41 (208 ) 101 Benefit from (provision for) income taxes 16 (12 ) 23 (31 ) Net (loss) income from discontinued operations $ (181 ) $ 29 $ (185 ) $ 70 a. In accordance with accounting guidance, amounts are net of eliminations of intercompany sales totaling $41 million in both second-quarter 2016 and 2015, $73 million for the first six months of 2016 and $69 million for the first six months of 2015. b. In accordance with accounting guidance, depreciation, depletion and amortization is not recognized subsequent to classification as assets held for sale. c. In accordance with accounting guidance, interest associated with FCX's Term Loan that will be required to be repaid as a result of the sale of TFHL has been allocated to discontinued operations. d. In accordance with accounting guidance, an estimated loss on disposal was recorded, which will be adjusted through closing of the transaction. Cash flows from discontinued operations included in the consolidated statements of cash flows follow (in millions): Six Months Ended June 30, 2016 2015 Net cash provided by operating activities $ 157 $ 153 Net cash used in investing activities (57 ) (105 ) Net cash used in financing activities (51 ) (47 ) Increase in cash and cash equivalents in assets held for sale $ 49 $ 1 FCX has also agreed to negotiate exclusively with CMOC (until December 31, 2016) to enter into a definitive agreement to sell its interest in Freeport Cobalt for $100 million and the Kisanfu exploration project in the DRC for $50 million in separate transactions. Freeport Cobalt includes the large-scale cobalt refinery in Kokkola, Finland, and the related sales and marketing business, in which FCX owns an effective 56 percent interest. Kisanfu is a copper and cobalt exploration project, located near Tenke, in which FCX holds a 100 percent interest.

Earnings Per Share (Unaudited)

Earnings Per Share (Unaudited)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE FCX’s basic net loss per share of common stock was computed by dividing net loss 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 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 Six Months Ended June 30, June 30, 2016 2015 2016 2015 Net loss from continuing operations $ (229 ) $ (1,828 ) $ (4,326 ) $ (4,275 ) Net income from continuing operations attributable to noncontrolling interests (47 ) (16 ) (109 ) (48 ) Preferred dividends on redeemable noncontrolling interest (10 ) (10 ) (21 ) (20 ) Undistributed earnings allocated to participating securities (3 ) (3 ) (3 ) (3 ) Net loss from continuing operations attributable to common stockholders $ (289 ) $ (1,857 ) $ (4,459 ) $ (4,346 ) Net (loss) income from discontinued operations $ (181 ) $ 29 $ (185 ) $ 70 Net income from discontinued operations attributable to noncontrolling interests (12 ) (26 ) (22 ) (52 ) Net (loss) income from discontinued operations attributable to common stockholders $ (193 ) $ 3 $ (207 ) $ 18 Net loss attributable to common stockholders $ (482 ) $ (1,854 ) $ (4,666 ) $ (4,328 ) Basic weighted-average shares of common stock outstanding 1,269 1,040 1,260 1,040 Add shares issuable upon exercise or vesting of dilutive stock options and RSUs — a — a — a — a Diluted weighted-average shares of common stock outstanding 1,269 1,040 1,260 1,040 Basic and diluted net (loss) income per share attributable to common stockholders: Continuing operations $ (0.23 ) $ (1.78 ) $ (3.54 ) $ (4.18 ) Discontinued operations (0.15 ) — (0.16 ) 0.02 $ (0.38 ) $ (1.78 ) $ (3.70 ) $ (4.16 ) a. Excludes 12 million shares of common stock for second-quarter 2016 , 15 million for second-quarter 2015 , 11 million for the first six months of 2016 , and 14 million for the first six months of 2015 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. Stock options for 46 million shares of common stock were excluded for second-quarter 2016 , 47 million for the first six months of 2016 and 40 million for both the quarter and six months ended June 30, 2015 .

Inventories, Including Long-Ter

Inventories, Including Long-Term Mill and Leach Stockpiles (Unaudited)	6 Months Ended
	Jun. 30, 2016
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): June 30, December 31, 2015 Current inventories: Mill stockpiles $ 146 $ 137 Leach stockpiles 1,202 1,402 Total current mill and leach stockpiles $ 1,348 $ 1,539 Total materials and supplies, net a $ 1,338 $ 1,594 Raw materials (primarily concentrate) $ 222 $ 220 Work-in-process 93 108 Finished goods 743 743 Total product inventories $ 1,058 $ 1,071 Long-term inventories: Mill stockpiles $ 584 $ 480 Leach stockpiles 1,158 1,183 Total long-term mill and leach stockpiles b $ 1,742 $ 1,663 a. Materials and supplies inventory was net of obsolescence reserves totaling $29 million at June 30, 2016 , and $26 million at December 31, 2015 . b. Estimated metals in stockpiles not expected to be recovered within the next 12 months. FCX recorded charges for adjustments to inventory carrying values of $2 million in second-quarter 2016 and $7 million for the first six months of 2016, primarily at the Molybdenum mines because of lower molybdenum prices, and $59 million in second-quarter 2015 and $63 million for the first six months of 2015, primarily because of lower molybdenum and copper prices (refer to Note 10 for 2015 inventory adjustments by business segment).

Income Taxes (Unaudited)

Income Taxes (Unaudited)	6 Months Ended
	Jun. 30, 2016
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 (5) percent for the first six months of 2016 and 25 percent for the first six months of 2015 . Geographic sources of FCX's (provision for) benefit from income taxes follow (in millions): Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 U.S. operations $ (49 ) $ 829 $ (38 ) $ 1,664 International operations (67 ) (130 ) (155 ) (251 ) Total $ (116 ) $ 699 $ (193 ) $ 1,413 As a result of the impairment to U.S. oil and gas properties, FCX recorded tax charges of $1.5 billion for the first six months of 2016 and $763 million for the first six months of 2015 to establish a valuation allowance primarily against U.S. federal and state deferred tax assets that will not generate a future benefit. Excluding these charges, FCX's consolidated effective income tax rate was 33 percent for the first six months of 2016 and 38 percent for the first six months of 2015 . As of December 31, 2015 , FCX had determined that undistributed earnings of TFM were reinvested indefinitely and were allocated toward specifically identifiable needs of the local operations. In connection with the anticipated sale of its interest in TFHL, management concluded that its share of undistributed earnings of TFM were no longer reinvested indefinitely. This change did not have a material impact on FCX's results of operations. Applicable accounting standards require that FCX estimate an annual effective tax rate and apply that rate to each year-to-date interim period. However, because FCX’s estimated effective income tax rate for 2016 is highly variable ( i.e. , minor changes in FCX’s estimated annual (loss) income would have a significant effect on the consolidated annual effective income tax rate), the actual effective income tax rate for the year-to-date reporting period represents a better estimate of the consolidated annual effective income tax rate. Accordingly, for the six months ended June 30, 2016 , the actual consolidated effective income tax rate was used to determine FCX’s income tax provision.

Debt and Equity Transactions (U

Debt and Equity Transactions (Unaudited)	6 Months Ended
	Jun. 30, 2016
Debt and Equity Transactions [Abstract]
Debt and Equity Transactions	DEBT AND EQUITY Debt. The components of debt follow (in millions): June 30, December 31, 2015 Term Loan $ 2,446 $ 3,032 Revolving credit facility — — Cerro Verde credit facility 1,784 1,781 Cerro Verde shareholder loans 261 259 Lines of credit 192 442 Senior notes and debentures: Issued by FCX 11,648 11,908 Issued by Freeport-McMoRan Oil & Gas LLC (FM O&G LLC) 2,524 2,539 Issued by FMC 359 359 Other (including equipment capital leases and other short-term borrowings) 105 108 Total debt a 19,319 20,428 Less current portion of debt (770 ) (649 ) Long-term debt $ 18,549 $ 19,779 a. Includes additions for unamortized fair value adjustments totaling $195 million at June 30, 2016, and $210 million at December 31, 2015, and net reductions for unamortized debt issuance costs and unamortized discounts of $120 million at June 30, 2016, and $129 million at December 31, 2015. On February 26, 2016 , FCX amended its revolving credit facility and Term Loan. The amendments included (i) modification of the maximum leverage ratio and the minimum interest expense coverage ratio, and (ii) the addition of a springing collateral and guarantee trigger. In addition, the commitment under the revolving credit facility was reduced from $4.0 billion to $3.5 billion , and the mandatory prepayment provision was modified under the Term Loan. Refer to Note 18 of FCX's annual report on Form 10-K for the year ended December 31, 2015, for further discussion of these amendments. In second-quarter 2016, FCX prepaid $568 million on the Term Loan with a portion of the proceeds from the sale of the 13 percent undivided interest in Morenci. With closed and pending asset sales exceeding the required $3 billion threshold under FCX's revolving credit facility and Term Loan, the springing collateral requirement under these agreements was not triggered on June 30, 2016. Since the TFHL transaction is not expected to close until fourth-quarter 2016, FCX was required to pledge its shares in FMC on June 30, 2016, which will be released upon closing of this transaction. If $3 billion in asset sale transactions have not been completed by December 31, 2016, the springing collateral requirement will be triggered. At June 30, 2016 , there were no borrowings outstanding and $40 million in letters of credit 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. Early Extinguishment of Debt During second-quarter 2016, FCX redeemed certain senior notes in exchange for its common stock (refer to the discussion under "Equity" in this note). A summary of these debt extinguishments follows (in millions): Principal Amount Discounts/Deferred Debt Issuance Costs Book Value Gain 3.55% Senior Notes due 2022 $ 85 $ — $ 85 $ 9 3.875% Senior Notes due 2023 52 — 52 6 5.40% Senior Notes due 2034 50 1 49 8 5.450% Senior Notes due 2043 81 1 80 16 Total $ 268 $ 2 $ 266 $ 39 In addition, FCX recorded a loss on early extinguishment of debt totaling $3 million associated with the modifications to its Term Loan and revolving credit facility in first-quarter 2016. Interest Expense, Net Consolidated interest expense from continuing operations (excluding capitalized interest) totaled $218 million in second-quarter 2016 , $208 million in second-quarter 2015 , $436 million for the first six months of 2016 and $411 million for the first six months of 2015 . Capitalized interest added to property, plant, equipment and mining development costs, net, totaled $22 million in second-quarter 2016 , $47 million in second-quarter 2015 , $42 million for the first six months of 2016 and $92 million for the first six months of 2015 . Capitalized interest added to oil and gas properties not subject to amortization totaled $19 million in second-quarter 2015 (none in second-quarter 2016), $7 million for the first six months of 2016 and $38 million for the first six months of 2015 . Equity. In 2015 and through January 5, 2016, FCX generated approximately $2 billion in gross proceeds (proceeds of $1.97 billion net of $20 million of commissions and expenses) through the sale of 210 million shares of common stock ( 206 million shares through December 31, 2015, and 4 million shares (with a value of $32 million ) in January 2016) under its at-the-market equity programs. At July 29, 2016, FCX has approximately $12 million remaining under these at-the-market equity programs. During second-quarter 2016, FCX issued 48 million shares of its common stock (with a value of $540 million , excluding $5 million of commissions paid by FCX) in connection with the settlement of two drilling rig contracts (refer to Note 9 for further discussion). During second-quarter 2016, FCX negotiated private exchange transactions exempt from registration under the Securities Act of 1933, as amended, whereby 17 million shares of FCX's common stock were issued, with an additional 3 million shares that settled in early July 2016 (with an aggregate value of $226 million ), in exchange for $268 million principal amount of FCX’s senior notes. From July 1, 2016, through August 4, 2016, an additional 8 million shares of FCX’s common stock (with a value of $85 million ) were issued in exchange for $101 million principal amount of FCX’s senior notes. The timing of future exchanges is dependent upon many factors including FCX’s operating results, cash flow and financial position, the market price of FCX's common stock, and general economic and market conditions.

Financial Instruments (Unaudite

Financial Instruments (Unaudited)	6 Months Ended
	Jun. 30, 2016
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. Derivative financial instruments used by FCX to manage its risks do not contain credit risk-related contingent provisions. As of June 30, 2016 , and December 31, 2015 , FCX had no price protection contracts relating to its mine production or future sales of oil and gas. 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 six -month periods ended June 30, 2016 and 2015 , resulting from hedge ineffectiveness. At June 30, 2016 , FCX held copper futures and swap contracts that qualified for hedge accounting for 62 million pounds at an average contract price of $2.18 per pound, with maturities through March 2018 . 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 Six Months Ended June 30, June 30, 2016 2015 2016 2015 Copper futures and swap contracts: Unrealized gains (losses): Derivative financial instruments $ 3 $ (4 ) $ 10 $ 2 Hedged item – firm sales commitments (3 ) 4 (10 ) (2 ) Realized losses: Matured derivative financial instruments (4 ) (1 ) (8 ) (11 ) 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, 2015, 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 concentrate or cathode 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 related to continuing operations 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. Mark-to-market price fluctuations associated with embedded derivatives for discontinued operations, which were minimal, are included in discontinued operations for all periods presented in these financial statements. A summary of FCX’s embedded derivatives at June 30, 2016 , follows: Open Positions Average Price Per Unit Maturities Through Contract Market Embedded derivatives in provisional sales contracts: Copper (millions of pounds) 769 $ 2.16 $ 2.20 November 2016 Gold (thousands of ounces) 90 1,259 1,322 October 2016 Embedded derivatives in provisional purchase contracts: Copper (millions of pounds) 123 2.17 2.20 October 2016 Crude Oil Contracts. As a result of the acquisition of the oil and gas business, FCX had derivative contracts in 2015 that consisted of crude oil options. These derivatives were not designated as hedging instruments and were recorded at fair value with the mark-to-market gains and losses recorded in revenues. The crude oil options were entered into to protect the realized price of a portion of expected future sales in order to limit the effects of crude oil price decreases. The remaining contracts matured in 2015, and FCX does not have any crude oil derivative contracts in place for 2016 or future years. 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 June 30, 2016 , Atlantic Copper held net copper forward purchase contracts for 14 million pounds at an average contract price of $2.10 per pound, with maturities through August 2016 . Summary of Gains (Losses). A summary of the realized and unrealized gains (losses) recognized in FCX's loss 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 Six Months Ended June 30, June 30, 2016 2015 2016 2015 Embedded derivatives in provisional copper and gold sales contracts a $ 4 $ (73 ) $ 76 $ (144 ) Copper forward contracts b (2 ) (6 ) 5 (7 ) Crude oil options a — 6 — 58 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): June 30, December 31, 2015 Commodity Derivative Assets: Derivatives designated as hedging instruments : Copper futures and swap contracts a $ 4 $ 1 Derivatives not designated as hedging instruments : Embedded derivatives in provisional copper and gold sales/purchase contracts 49 19 Copper forward contracts 2 — Total derivative assets $ 55 $ 20 Commodity Derivative Liabilities: Derivatives designated as hedging instruments : Copper futures and swap contracts a $ 3 $ 11 Derivatives not designated as hedging instruments : Embedded derivatives in provisional copper and gold sales/purchase contracts 18 81 Copper forward contracts 1 — Total derivative liabilities $ 22 $ 92 a. FCX paid $3 million to brokers at June 30, 2016 , and $10 million at December 31, 2015 , for margin requirements (recorded in other current assets). 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 June 30, 2016 December 31, 2015 June 30, 2016 December 31, 2015 Gross amounts recognized: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts $ 49 $ 19 $ 18 $ 81 Copper derivatives 6 1 4 11 55 20 22 92 Less gross amounts of offset: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts 3 5 3 5 Copper derivatives 4 1 4 1 7 6 7 6 Net amounts presented in balance sheet: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts 46 14 15 76 Copper derivatives 2 — — 10 $ 48 $ 14 $ 15 $ 86 Balance sheet classification: Trade accounts receivable $ 48 $ 9 $ 8 $ 51 Accounts payable and accrued liabilities — 5 7 35 $ 48 $ 14 $ 15 $ 86 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 June 30, 2016 , the maximum amount of credit exposure associated with derivative transactions was $42 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, and long-term debt. The carrying value for cash and cash equivalents (which included time deposits of $48 million at June 30, 2016 , and $34 million at December 31, 2015), accounts receivable, restricted cash, and accounts payable and accrued liabilities 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). In addition, FCX has contingent liabilities related to the settlement of FM O&G's drilling rig contracts (refer to Note 8 for the fair value and Note 9 for further discussion of these instruments).

Fair Value Measurement (Unaudit

Fair Value Measurement (Unaudited)	6 Months Ended
	Jun. 30, 2016
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) and the lowest priority to unobservable inputs (Level 3). 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 second -quarter 2016 . FCX retrospectively adopted the May 2015 Accounting Standards Update (ASU) associated with investments for which fair value is measured using the net asset value (NAV) per share as a practical expedient. As a result, investments valued using NAV per share are shown in the tables below in a column separate from the levels within the fair value hierarchy. A summary of the carrying amount and fair value of FCX’s financial instruments, other than cash and cash equivalents, accounts receivable, restricted cash, and accounts payable and accrued liabilities (refer to Note 7 ) follows (in millions): At June 30, 2016 Carrying Fair Value Amount Total NAV Level 1 Level 2 Level 3 Assets Investment securities: a,b U.S. core fixed income fund at NAV $ 24 $ 24 $ 24 $ — $ — $ — Money market funds 22 22 — 22 — — Equity securities 4 4 — 4 — — Total 50 50 24 26 — — Legally restricted funds: a,b,c,d U.S. core fixed income fund at NAV 55 55 55 — — — Government bonds and notes 38 38 — — 38 — Government mortgage-backed securities 30 30 — — 30 — Corporate bonds 30 30 — — 30 — Asset-backed securities 15 15 — — 15 — Money market funds 12 12 — 12 — — Collateralized mortgage-backed securities 6 6 — — 6 — Municipal bonds 1 1 — — 1 — Total 187 187 55 12 120 — Derivatives: a,e Embedded derivatives in provisional sales/ purchase contracts in a gross asset position 49 49 — — 49 — Copper futures and swap contracts 4 4 — 4 — — Copper forward contracts 2 2 — 1 1 — Total 55 55 — 5 50 — Total assets $ 292 $ 79 $ 43 $ 170 $ — Liabilities Derivatives: a,e Embedded derivatives in provisional sales/ purchase contracts in a gross liability position $ 18 $ 18 $ — $ — $ 18 $ — Copper futures and swap contracts 3 3 — 1 2 — Copper forward contracts 1 1 — 1 — — Total 22 22 — 2 20 — Contingent consideration for the settlements of drilling rig contracts f 25 25 — — 25 — Long-term debt, including current portion g 19,319 17,772 — — 17,772 — Total liabilities $ 17,819 $ — $ 2 $ 17,817 $ — At December 31, 2015 Carrying Fair Value Amount Total NAV Level 1 Level 2 Level 3 Assets Investment securities: a,b U.S. core fixed income fund at NAV $ 23 $ 23 $ 23 $ — $ — $ — Money market funds 21 21 — 21 — — Equity securities 3 3 — 3 — — Total 47 47 23 24 — — Legally restricted funds: a,b,c,d U.S. core fixed income fund at NAV 52 52 52 — — — Government bonds and notes 37 37 — — 37 — Government mortgage-backed securities 28 28 — — 28 — Corporate bonds 26 26 — — 26 — Asset-backed securities 13 13 — — 13 — Collateralized mortgage-backed securities 7 7 — — 7 — Money market funds 7 7 — 7 — — Municipal bonds 1 1 — — 1 — Total 171 171 52 7 112 — Derivatives: a,e Embedded derivatives in provisional sales/ purchase contracts in a gross asset position 19 19 — — 19 — Copper futures and swap contracts 1 1 — 1 — — Total 20 20 — 1 19 — Total assets $ 238 $ 75 $ 32 $ 131 $ — Liabilities Derivatives: a,e Embedded derivatives in provisional sales/ purchase contracts in a gross liability position $ 81 $ 81 $ — $ — $ 81 $ — Copper futures and swap contracts 11 11 — 7 4 — Total 92 92 — 7 85 — Long-term debt, including current portion g 20,428 13,987 — — 13,987 — Total liabilities $ 14,079 $ — $ 7 $ 14,072 $ — 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 $120 million at June 30, 2016 , and $118 million at December 31, 2015 , primarily associated with an assurance bond to support PT Freeport Indonesia's (PT-FI) commitment for smelter development in Indonesia. d. Excludes time deposits (which approximated fair value) included in other current assets of $30 million at June 30, 2016 , and $28 million at December 31, 2015 . e. Refer to Note 7 for further discussion and balance sheet classifications. f. Included in other liabilities. g. 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. 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. 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. FCX’s embedded derivatives on provisional copper concentrate, copper cathode and gold purchases and sales are valued using only 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 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. Contingent liabilities for the settlement of drilling rig contracts (refer to Note 9 for further discussion) are based on the average price of WTI crude oil over the 12-month period ending June 30, 2017. The fair value is estimated using a Monte Carlo simulation model that uses various observable inputs, including WTI crude oil forward prices, volatilities, discount rate and settlement terms. As a result, these contingent liabilities are classified within Level 2 of the fair value hierarchy. Long-term debt, including current portion, is valued using available market quotes and, as such, is classified within Level 2 of the fair value hierarchy. The U.S. core fixed income fund is valued at NAV. 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). 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 June 30, 2016 .

Contingencies and Commitments (

Contingencies and Commitments (Unaudited)	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	CONTINGENCIES AND COMMITMENTS Litigation. During second-quarter 2016, 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, 2015. Tax and Other Matters Cerro Verde Royalty Dispute As reported in Note 12 of FCX’s annual report on Form 10-K for the year ended December 31, 2015, SUNAT, the Peru national tax authority, has assessed mining royalties on ore processed by the Cerro Verde concentrator, which commenced operations in late 2006, for the period December 2006 to December 2007 and the years 2008 and 2009. In April 2016, SUNAT issued assessments for the year 2010 and the period January 2011 to September 2011. Cerro Verde has contested the assessments, of which the aggregate amount covering the period December 2006 to September 2011 totals $387 million (based on the exchange rate as of June 30, 2016), including estimated accumulated interest and penalties. Additionally, in April 2016, Peru’s Twentieth Contentious Administrative Court, which specializes in taxation matters, rendered its decision upholding the Peru Tax Tribunal’s July 2013 decision affirming SUNAT’s assessments for the period December 2006 through December 2007. On May 2, 2016, Cerro Verde appealed this decision to Peru’s Twentieth Contentious Administrative Court. SUNAT may make additional assessments for mining royalties and associated penalties and interest for the period from October 2011 through December 2013, which Cerro Verde will contest. As of June 30, 2016, FCX estimates the total exposure associated with these mining royalties for the period from December 2006 through December 2013 approximates $474 million (based on the exchange rate as of June 30, 2016), including estimated accumulated interest and penalties. No amounts have been accrued for these assessments as of June 30, 2016, because Cerro Verde believes its 1998 stability agreement exempts it from these royalties and believes any payments will be recoverable. Other Peru Tax Matters There were no significant changes to other Peru tax matters during second-quarter 2016 (refer to Note 12 of FCX’s annual report on Form 10-K for the year ended December 31, 2015 , 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, 2015. In December 2009, PT-FI was notified by Indonesian tax authorities that it was obligated to pay value-added taxes on certain goods imported after the year 2000. In December 2014, PT-FI paid $269 million for valued-added taxes for the period from November 2005 through the year 2009 and sought a refund. In March 2016, PT-FI collected a cash refund of $196 million and $38 million was offset against other tax liabilities. The remaining balance of the amount originally paid was reduced by currency exchange and other losses. Required estimated income tax payments for 2014 significantly exceeded PT-FI’s 2014 reported income tax liability, which resulted in a $284 million overpayment. During second-quarter 2016, the Indonesian tax authorities issued tax assessments for 2014 of $156 million and agreed to refund $128 million associated with income tax overpayments made by PT-FI in 2014. PT-FI will file objections for $155 million of the tax assessments. PT-FI received assessments from the local regional tax authority in Papua, Indonesia, for additional taxes and penalties related to surface water taxes for the period from January 2011 through May 2016. 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 December 2015, and PT-FI has filed or will file appeals with the Indonesia Tax Court. The aggregate amount of all assessments received through June 30, 2016, including penalties, was 2.9 trillion Indonesian rupiah ( $220 million based on the exchange rate as of June 30, 2016). 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 June 30, 2016, 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 Indonesia Tax Court and ultimately the Indonesia Supreme Court. Indonesia Mining Contract. There were no significant updates related to PT-FI's COW during second-quarter 2016 (refer to Note 13 of FCX’s annual report on Form 10-K for the year ended December 31, 2015 , for further discussion). PT-FI is required to apply for renewal of export permits at six-month intervals. In February 2016, PT-FI's export permit was renewed through August 8, 2016 . PT-FI has applied for an extension of this permit. The Indonesian government continues to impose a five percent export duty while it reviews PT-FI's smelter plans. Other. During second-quarter 2016, FCX negotiated the termination and settlement of FM O&G's drilling rig contracts with Noble Drilling (U.S.) LLC (Noble) and Rowan Companies plc (Rowan). Under the settlement with Noble, FCX issued 48 million shares of its common stock (representing a value of $540 million ) during second-quarter 2016, and Noble immediately sold these shares. Under the settlement with Rowan, FCX paid $85 million in cash during second-quarter 2016 and will pay the remaining $130 million during third-quarter 2016. FCX also agreed to provide contingent payments of up to $75 million to Noble and $30 million to Rowan, depending on the average price of crude oil over the 12-month period ending June 30, 2017. The fair value of these contingent payments totaled $25 million as of June 30, 2016 (refer to Note 8). As a result of the settlements, FM O&G was released from a total of $1.1 billion in payment obligations under its three drilling rig contracts.

Business Segments (Unaudited)

Business Segments (Unaudited)	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Business Segments	BUSINESS SEGMENTS FCX has organized its continuing mining operations into four primary divisions – North America copper mines, South America mining, Indonesia mining and Molybdenum mines, and operating segments that meet certain thresholds are reportable segments. For oil and gas operations, FCX determines its operating segments on a country-by-country basis. Separately disclosed in the following table are FCX's reportable segments, which include the Morenci, Cerro Verde and Grasberg copper mines, the Rod & Refining operations, the Atlantic Copper Smelting & Refining operation and U.S. Oil & Gas operations. FCX's reportable segments previously included Africa mining, which consisted of the Tenke mine located in the DRC. As discussed in Note 2, FCX has entered into a definitive agreement to sell its interest in TFHL, and as a result, Tenke has been removed from continuing operations and reported as discontinued operations for all periods presented. On May 31, 2016, FCX completed the sale of an additional 13 percent undivided interest in the Morenci unincorporated joint venture. As a result, FCX's undivided interest in Morenci was prospectively reduced from 85 percent to 72 percent . 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. In addition, intersegment sales from Tenke to FCX's other consolidated subsidiaries have been eliminated in discontinued operations (refer to Note 2) and included in Other Mining & Eliminations. 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. 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 a North America Copper Mines South America Indonesia Atlantic Other Corporate, Molyb- Copper Mining U.S. Other Cerro denum Rod & Smelting & Elimi- Total Oil & Gas & Elimi- FCX Morenci Other Total Verde Other Total Grasberg Mines Refining & Refining nations Mining Operations nations Total Three Months Ended June 30, 2016 Revenues: Unaffiliated customers $ 79 $ 43 $ 122 $ 494 $ 123 $ 617 $ 532 b $ — $ 919 $ 493 $ 241 c $ 2,924 $ 410 $ — $ 3,334 Intersegment 404 534 938 60 — 60 (1 ) d 45 7 2 (1,051 ) — — — — Production and delivery 298 428 726 303 103 406 356 50 919 466 (866 ) 2,057 889 e 10 2,956 Depreciation, depletion and amortization 57 77 134 109 27 136 93 17 3 7 20 410 218 4 632 Impairment of oil and gas properties — — — — — — — — — — — — 290 1 f 291 Selling, general and administrative expenses 1 1 2 2 — 2 22 — — 4 2 32 81 g 47 160 Mining exploration and research expenses — — — — — — — — — — 15 15 — — 15 Environmental obligations and shutdown costs — — — — — — — — — — 10 10 — 1 11 Net gain on sales of assets (577 ) — (577 ) — — — — — — — (172 ) (749 ) — — (749 ) Operating income (loss) 704 71 775 140 (7 ) 133 60 (22 ) 4 18 181 1,149 (1,068 ) (63 ) 18 Interest expense, net — 1 1 20 — 20 — — — 4 19 44 93 59 196 Provision for (benefit from) income taxes — — — 45 (2 ) 43 18 — — — — 61 — 55 116 Total assets at June 30, 2016 2,960 4,676 7,636 9,330 1,609 10,939 9,550 1,969 217 607 6,151 h 37,069 3,902 325 41,296 Capital expenditures 37 5 42 135 1 136 234 — — 5 24 i 441 388 j 4 833 Three Months Ended June 30, 2015 Revenues: Unaffiliated customers $ 180 $ 92 $ 272 $ 195 $ 221 $ 416 $ 792 b $ — $ 1,089 $ 495 $ 305 c $ 3,369 $ 569 k $ — $ 3,938 Intersegment 427 706 1,133 37 — 37 (2 ) d 102 8 5 (1,283 ) — — — — Production and delivery 386 576 l 962 165 150 315 455 84 l 1,088 468 (1,004 ) l 2,368 281 e 2 2,651 Depreciation, depletion and amortization 55 84 139 40 32 72 78 25 3 9 19 345 485 3 833 Impairment of oil and gas properties — — — — — — — — — — — — 2,686 — 2,686 Selling, general and administrative expenses — 2 2 — 1 1 25 — — 4 5 37 49 62 148 Mining exploration and research expenses — 2 2 — — — — — — — 28 30 — — 30 Environmental obligations and shutdown costs — — — — — — — — — — 11 11 — — 11 Operating income (loss) 166 134 300 27 38 65 232 (7 ) 6 19 (37 ) 578 (2,932 ) (67 ) (2,421 ) Interest expense, net — 1 1 — — — — — — 2 39 42 41 59 142 Provision for (benefit from) income taxes — — — (5 ) 11 6 95 — — — — 101 — (800 ) (699 ) Total assets at June 30, 2015 3,806 5,582 9,388 8,567 1,935 10,502 8,959 2,052 286 786 6,461 h 38,434 15,393 181 54,008 Capital expenditures 79 28 107 444 13 457 213 4 — 4 70 i 855 777 j 29 1,661 a. Excludes the results of Tenke, which is reported as discontinued operations (refer to Note 2). b. Includes PT-FI’s sales to PT Smelting totaling $287 million in second-quarter 2016 and $293 million in second-quarter 2015 . 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. Reflects net reductions for provisional pricing adjustments to prior period open sales. There were no intersegment sales from Grasberg in second-quarter 2016 or 2015. e. Includes charges at oil and gas operations totaling $692 million in second-quarter 2016 and $22 million in second-quarter 2015 , primarily associated with drillship settlement/idle rig costs and inventory write-downs. f. Reflects impairment charges for international oil and gas properties primarily in Morocco. g. Includes $37 million for net restructuring charges. h. Includes assets held for sale totaling $4.7 billion at June 30, 2016 and $4.9 billion at June 30, 2015 , associated with discontinued operations (refer to Note 2). i. Includes capital expenditures of $20 million in second-quarter 2016 and $58 million in second-quarter 2015 associated with discontinued operations. j. Excludes international oil and gas capital expenditures totaling $4 million in second-quarter 2016 and $29 million in second-quarter 2015 , primarily related to the Morocco oil and gas properties, which are included in Corporate, Other & Eliminations. k. Includes net mark-to-market gains of $6 million associated with crude oil derivative contracts. l. Includes inventory adjustments totaling $11 million at other North America copper mines, $3 million at Molybdenum mines and $ 45 million at Other Mining & Eliminations. (In millions) Mining Operations a North America Copper Mines South America Indonesia Atlantic Other Corporate, Molyb- Copper Mining U.S. Other Cerro denum Rod & Smelting & Elimi- Total Oil & Gas & Elimi- FCX Morenci Other Total Verde Other Total Grasberg Mines Refining & Refining nations Mining Operations nations Total Six Months Ended June 30, 2016 Revenues: Unaffiliated customers $ 241 $ 99 $ 340 $ 980 $ 267 $ 1,247 $ 1,030 b $ — $ 1,890 $ 915 $ 449 c $ 5,871 $ 705 $ — $ 6,576 Intersegment 761 1,095 1,856 101 — 101 57 90 15 3 (2,122 ) — — — — Production and delivery 638 876 1,514 594 222 816 750 102 1,889 859 (1,784 ) 4,146 1,296 d 13 5,455 Depreciation, depletion and amortization 119 159 278 210 58 268 174 36 5 15 38 814 473 7 1,294 Impairment of oil and gas properties — — — — — — — — — — — — 4,061 17 e 4,078 Selling, general and administrative expenses 1 2 3 4 — 4 36 — — 8 6 57 130 f 111 298 Mining exploration and research expenses — 1 1 — — — — — — — 32 33 — — 33 Environmental obligations and shutdown costs — — — — — — — — — — 20 20 — 1 21 Net gain on sales of assets (577 ) — (577 ) — — — — — — — (172 ) (749 ) — — (749 ) Operating income (loss) 821 156 977 273 (13 ) 260 127 (48 ) 11 36 187 1,550 (5,255 ) (149 ) (3,854 ) Interest expense, net 1 1 2 42 — 42 — — — 8 39 91 164 132 387 Provision for (benefit from) income taxes — — — 90 (8 ) 82 54 — — — — 136 — 57 193 Capital expenditures 65 11 76 291 2 293 459 1 1 7 63 g 900 868 h 47 1,815 Six Months Ended June 30, 2015 Revenues: Unaffiliated customers $ 286 $ 207 $ 493 $ 443 $ 452 $ 895 $ 1,413 b $ — $ 2,151 $ 1,035 $ 653 c $ 6,640 $ 1,069 i $ — $ 7,709 Intersegment 877 1,370 2,247 51 (7 ) j 44 (16 ) j 215 15 11 (2,516 ) — — — — Production and delivery 760 1,145 k 1,905 363 297 660 894 167 k 2,151 987 (2,003 ) k 4,761 564 d 5 5,330 Depreciation, depletion and amortization 106 166 272 77 70 147 148 51 5 19 35 677 1,015 7 1,699 Impairment of oil and gas properties — — — — — — — — — — — — 5,790 — 5,790 Selling, general and administrative expenses 1 2 3 1 1 2 50 — — 9 11 75 103 121 299 Mining exploration and research expenses — 5 5 — — — — — — — 52 57 — — 57 Environmental obligations and shutdown costs — — — — — — — — — — 24 24 — — 24 Net gain on sales of assets — (39 ) (39 ) — — — — — — — — (39 ) — — (39 ) Operating income (loss) 296 298 594 53 77 130 305 (3 ) 10 31 18 1,085 (6,403 ) (133 ) (5,451 ) Interest expense, net 1 1 2 1 — 1 — — — 5 79 87 78 116 281 Provision for (benefit from) income taxes — — — — 30 30 124 — — — — 154 — (1,567 ) (1,413 ) Capital expenditures 163 51 214 875 27 902 438 7 1 8 119 g 1,689 1,795 h 44 3,528 a. Excludes the results of Tenke, which is reported as discontinued operations (refer to Note 2). b. Includes PT-FI's sales to PT Smelting totaling $564 million for the first six months of 2016 and $643 million for the first six months of 2015 . 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 charges at oil and gas operations totaling $892 million for the first six months of 2016 and $39 million for the first six months of 2015 , primarily associated with drillship settlement/idle rig costs and inventory write downs. e. Reflects impairment charges for international oil and gas properties primarily in Morocco. f. Includes $39 million for net restructuring charges. g. Includes capital expenditures of $55 million for the first six months of 2016 and $97 million for the first six months of 2015 associated with discontinued operations. h. Excludes international oil and gas capital expenditures totaling $47 million for the first six months of 2016 and $44 million for the first six months of 2015 , primarily related to the Morocco oil and gas properties, which are included in Corporate, Other & Eliminations. i. Includes net mark-to-market gains of $58 million associated with crude oil derivative contracts. j. Reflects net reductions for provisional pricing adjustments to prior period open sales. There were no intersegment sales from El Abra or Grasberg for the first six months of 2015. k. Includes inventory adjustments totaling $11 million at other North America copper mines, $3 million at Molybdenum mines and $ 49 million at Other Mining & Eliminations for the first six months of 2015 .

Guarantor Financial Statements

Guarantor Financial Statements (Unaudited) (Notes)	6 Months Ended
	Jun. 30, 2016
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 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 June 30, 2016 , and December 31, 2015 , and the related condensed consolidating statements of comprehensive (loss) income for the three and six months ended June 30, 2016 and 2015 , and cash flows for the six months ended June 30, 2016 and 2015 (in millions), which should be read in conjunction with FCX's notes to the consolidated financial statements. CONDENSED CONSOLIDATING BALANCE SHEET June 30, 2016 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX ASSETS Current assets, other than assets held for sale $ 267 $ 2,792 $ 6,902 $ (3,927 ) $ 6,034 Current assets held for sale — — 4,666 — 4,666 Property, plant, equipment and mining development costs, net 23 57 23,529 — 23,609 Oil and gas properties, net - full cost method: Subject to amortization, less accumulated amortization and impairments — 356 1,025 — 1,381 Not subject to amortization — 408 1,246 2 1,656 Investments in consolidated subsidiaries 19,759 — — (19,759 ) — Other assets 1,389 42 3,866 (1,347 ) 3,950 Total assets $ 21,438 $ 3,655 $ 41,234 $ (25,031 ) $ 41,296 LIABILITIES AND EQUITY Current liabilities, other than liabilities held for sale $ 2,811 $ 534 $ 4,288 $ (3,917 ) $ 3,716 Current liabilities held for sale — — 824 — 824 Long-term debt, less current portion 13,520 7,425 12,064 (14,460 ) 18,549 Deferred income taxes 1,064 a — 2,694 — 3,758 Environmental and asset retirement obligations, less current portion — 313 3,384 — 3,697 Investments in consolidated subsidiaries — 649 8,647 (9,296 ) — Other liabilities 40 3,381 1,730 (3,489 ) 1,662 Total liabilities 17,435 12,302 33,631 (31,162 ) 32,206 Redeemable noncontrolling interest — — 771 — 771 Equity: Stockholders' equity 4,003 (8,647 ) 3,067 5,580 4,003 Noncontrolling interests — — 3,765 551 4,316 Total equity 4,003 (8,647 ) 6,832 6,131 8,319 Total liabilities and equity $ 21,438 $ 3,655 $ 41,234 $ (25,031 ) $ 41,296 a. All U.S. related deferred income taxes are recorded at the parent company. CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2015 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX ASSETS Current assets, other than assets held for sale $ 181 $ 3,831 $ 10,238 $ (7,532 ) $ 6,718 Current assets held for sale — — 744 — 744 Property, plant, equipment and mining development costs, net 26 57 24,165 — 24,248 Oil and gas properties, net - full cost method: Subject to amortization, less accumulated amortization and impairments — 710 1,552 — 2,262 Not subject to amortization — 1,393 3,432 6 4,831 Investments in consolidated subsidiaries 24,311 — — (24,311 ) — Other assets 5,038 1,826 3,598 (6,798 ) 3,664 Assets held for sale — — 4,110 — 4,110 Total assets $ 29,556 $ 7,817 $ 47,839 $ (38,635 ) $ 46,577 LIABILITIES AND EQUITY Current liabilities, other than assets held for sale $ 6,012 $ 666 $ 5,047 $ (7,526 ) $ 4,199 Current liabilities held for sale — — 108 — 108 Long-term debt, less current portion 14,735 5,883 11,594 (12,433 ) 19,779 Deferred income taxes 941 a — 2,666 — 3,607 Environmental and asset retirement obligations, less current portion — 305 3,412 — 3,717 Investment in consolidated subsidiary — — 2,397 (2,397 ) — Other liabilities 40 3,360 1,732 (3,491 ) 1,641 Liabilities held for sale — — 718 — 718 Total liabilities 21,728 10,214 27,674 (25,847 ) 33,769 Redeemable noncontrolling interest — — 764 — 764 Equity: Stockholders' equity 7,828 (2,397 ) 15,725 (13,328 ) 7,828 Noncontrolling interests — — 3,676 540 4,216 Total equity 7,828 (2,397 ) 19,401 (12,788 ) 12,044 Total liabilities and equity $ 29,556 $ 7,817 $ 47,839 $ (38,635 ) $ 46,577 a. All U.S. related deferred income taxes are recorded at the parent company. CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE (LOSS) INCOME Three Months Ended June 30, 2016 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 106 $ 3,228 $ — $ 3,334 Total costs and expenses 17 964 a 2,335 a — 3,316 Operating (loss) income (17 ) (858 ) 893 — 18 Interest expense, net (141 ) (15 ) (124 ) 84 (196 ) Other income (expense), net 107 — 28 (71 ) 64 (Loss) income before income taxes and equity in affiliated companies' net (losses) earnings (51 ) (873 ) 797 13 (114 ) (Provision for) benefit from income taxes (345 ) 306 (69 ) (8 ) (116 ) Equity in affiliated companies' net (losses) earnings (90 ) (280 ) (853 ) 1,224 1 Net (loss) income from continuing operations (486 ) (847 ) (125 ) 1,229 (229 ) Net income (loss) from discontinued operations 5 — (175 ) (11 ) (181 ) Net (loss) income (481 ) (847 ) (300 ) 1,218 (410 ) Net income and preferred dividends attributable to noncontrolling interests: Continuing operations — — (50 ) (7 ) (57 ) Discontinued operations — — (12 ) — (12 ) Net (loss) income attributable to common stockholders $ (481 ) $ (847 ) $ (362 ) $ 1,211 $ (479 ) Other comprehensive income (loss) 15 — 15 (15 ) 15 Total comprehensive (loss) income $ (466 ) $ (847 ) $ (347 ) $ 1,196 $ (464 ) a. Includes charges totaling $0.2 billion at the FM O&G LLC guarantor and $0.1 billion at the non-guarantor subsidiaries related to impairment of FCX's oil and gas properties pursuant to full cost accounting rules. Six Months Ended June 30, 2016 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 184 $ 6,392 $ — $ 6,576 Total costs and expenses 44 2,593 a 7,787 a 6 10,430 Operating loss (44 ) (2,409 ) (1,395 ) (6 ) (3,854 ) Interest expense, net (278 ) (19 ) (238 ) 148 (387 ) Other income (expense), net 157 — 68 (125 ) 100 (Loss) income before income taxes and equity in affiliated companies' net (losses) earnings (165 ) (2,428 ) (1,565 ) 17 (4,141 ) (Provision for) benefit from income taxes (2,128 ) 922 1,019 (6 ) (193 ) Equity in affiliated companies' net (losses) earnings (2,376 ) (2,984 ) (4,483 ) 9,851 8 Net (loss) income from continuing operations (4,669 ) (4,490 ) (5,029 ) 9,862 (4,326 ) Net income (loss) from discontinued operations 5 — (169 ) (21 ) (185 ) Net (loss) income (4,664 ) (4,490 ) (5,198 ) 9,841 (4,511 ) Net income and preferred dividends attributable to noncontrolling interests: Continuing operations — — (117 ) (13 ) (130 ) Discontinued operations — — (22 ) — (22 ) Net (loss) income attributable to common stockholders $ (4,664 ) $ (4,490 ) $ (5,337 ) $ 9,828 $ (4,663 ) Other comprehensive income (loss) 15 — 15 (15 ) 15 Total comprehensive (loss) income $ (4,649 ) $ (4,490 ) $ (5,322 ) $ 9,813 $ (4,648 ) a. Includes charges totaling $1.5 billion at the FM O&G LLC guarantor and $2.6 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 (LOSS) INCOME Three Months Ended June 30, 2015 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 169 $ 3,769 $ — $ 3,938 Total costs and expenses 19 1,217 a 5,120 a 3 6,359 Operating loss (19 ) (1,048 ) (1,351 ) (3 ) (2,421 ) Interest expense, net (121 ) (2 ) (53 ) 34 (142 ) Other income (expense), net 127 — (57 ) (34 ) 36 Loss before income taxes and equity in affiliated companies' net (losses) earnings (13 ) (1,050 ) (1,461 ) (3 ) (2,527 ) (Provision for) benefit from income taxes (265 ) 374 592 (2 ) 699 Equity in affiliated companies' net (losses) earnings (1,573 ) (1,920 ) (2,972 ) 6,465 — Net (loss) income from continuing operations (1,851 ) (2,596 ) (3,841 ) 6,460 (1,828 ) Net income from discontinued operations — — 22 7 29 Net (loss) income (1,851 ) (2,596 ) (3,819 ) 6,467 (1,799 ) Net income and preferred dividends attributable to noncontrolling interests: Continuing operations — — (12 ) (14 ) (26 ) Discontinued operations — — (26 ) — (26 ) Net (loss) income attributable to common stockholders $ (1,851 ) $ (2,596 ) $ (3,857 ) $ 6,453 $ (1,851 ) Other comprehensive income (loss) 9 — 9 (9 ) 9 Total comprehensive (loss) income $ (1,842 ) $ (2,596 ) $ (3,848 ) $ 6,444 $ (1,842 ) a. Includes charges totaling $1.0 billion at the FM O&G LLC guarantor and $1.7 billion at the non-guarantor subsidiaries related to impairment of FCX's oil and gas properties pursuant to full cost accounting rules. Six Months Ended June 30, 2015 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 350 $ 7,359 $ — $ 7,709 Total costs and expenses 35 2,535 a 10,603 a (13 ) 13,160 Operating (loss) income (35 ) (2,185 ) (3,244 ) 13 (5,451 ) Interest expense, net (236 ) (6 ) (96 ) 57 (281 ) Other income (expense), net 156 — (49 ) (64 ) 43 (Loss) income before income taxes and equity in affiliated companies' net (losses) earnings (115 ) (2,191 ) (3,389 ) 6 (5,689 ) (Provision for) benefit from income taxes (686 ) 790 1,317 (8 ) 1,413 Equity in affiliated companies' net (losses) earnings (3,524 ) (4,279 ) (6,502 ) 14,306 1 Net (loss) income from continuing operations (4,325 ) (5,680 ) (8,574 ) 14,304 (4,275 ) Net income from discontinued operations — — 56 14 70 Net (loss) income (4,325 ) (5,680 ) (8,518 ) 14,318 (4,205 ) Net income and preferred dividends attributable to noncontrolling interests: Continuing operations — — (42 ) (26 ) (68 ) Discontinued operations — — (52 ) — (52 ) Net (loss) income attributable to common stockholders $ (4,325 ) $ (5,680 ) $ (8,612 ) $ 14,292 $ (4,325 ) Other comprehensive income (loss) 21 — 21 (21 ) 21 Total comprehensive (loss) income $ (4,304 ) $ (5,680 ) $ (8,591 ) $ 14,271 $ (4,304 ) a. Includes charges totaling $2.1 billion at the FM O&G LLC guarantor and $3.7 billion at the non-guarantor subsidiaries related to impairment of FCX's oil and gas properties pursuant to full cost accounting rules. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Six Months Ended June 30, 2016 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Cash flow from operating activities: Net (loss) income $ (4,664 ) $ (4,490 ) $ (5,198 ) $ 9,841 $ (4,511 ) Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: Depreciation, depletion and amortization 3 92 1,293 (14 ) 1,374 Impairment of oil and gas properties — 1,436 2,622 20 4,078 Equity in losses (earnings) of affiliated companies 2,375 2,985 4,483 (9,851 ) (8 ) Other, net 104 600 (489 ) — 215 Changes in working capital and other tax payments, excluding amounts from dispositions 2,009 (713 ) (836 ) 6 466 Net cash (used in) provided by operating activities (173 ) (90 ) 1,875 2 1,614 Cash flow from investing activities: Capital expenditures — (433 ) (1,380 ) (2 ) (1,815 ) Intercompany loans (994 ) (493 ) — 1,487 — Dividends from (investments in) consolidated subsidiaries 1,935 (41 ) 78 (1,972 ) — Asset sales and other, net — 91 1,189 — 1,280 Net cash provided by (used in) investing activities 941 (876 ) (113 ) (487 ) (535 ) Cash flow from financing activities: Proceeds from debt 1,505 — 1,306 — 2,811 Repayments of debt (2,282 ) — (1,367 ) — (3,649 ) Intercompany loans — 1,018 469 (1,487 ) — Net proceeds from sale of common stock 32 — 42 (42 ) 32 Cash dividends and distributions paid, and contributions received, net (5 ) — (1,989 ) 1,950 (44 ) Other, net (18 ) (52 ) (17 ) 64 (23 ) Net cash (used in) provided by financing activities (768 ) 966 (1,556 ) 485 (873 ) Net increase in cash and cash equivalents — — 206 — 206 Increase in cash and cash equivalents in assets held for sale — — (49 ) — (49 ) Cash and cash equivalents at beginning of period — — 195 — 195 Cash and cash equivalents at end of period $ — $ — $ 352 $ — $ 352 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Six Months Ended June 30, 2015 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Cash flow from operating activities: Net (loss) income $ (4,325 ) $ (5,680 ) $ (8,518 ) $ 14,318 $ (4,205 ) Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: Depreciation, depletion and amortization 2 223 1,638 (34 ) 1,829 Impairment of oil and gas properties — 2,052 3,717 21 5,790 Net gains on crude oil derivative contracts — (58 ) — — (58 ) Equity in losses (earnings) of affiliated companies 3,524 4,279 6,502 (14,306 ) (1 ) Other, net (1,431 ) 9 43 — (1,379 ) Changes in working capital and other tax payments 2,222 (550 ) (1,870 ) 8 (190 ) Net cash (used in) provided by operating activities (8 ) 275 1,512 7 1,786 Cash flow from investing activities: Capital expenditures — (734 ) (2,787 ) (7 ) (3,528 ) Intercompany loans (1,073 ) (794 ) — 1,867 — Dividends from (investments in) consolidated subsidiaries 438 (31 ) 74 (481 ) — Other, net (10 ) (1 ) 137 10 136 Net cash (used in) provided by investing activities (645 ) (1,560 ) (2,576 ) 1,389 (3,392 ) Cash flow from financing activities: Proceeds from debt 2,735 — 1,687 — 4,422 Repayments of debt (1,690 ) — (670 ) — (2,360 ) Intercompany loans — 1,321 546 (1,867 ) — Cash dividends and distributions paid, and contributions received, net (380 ) — (481 ) 421 (440 ) Other, net (12 ) (37 ) (15 ) 50 (14 ) Net cash provided by (used in) financing activities 653 1,284 1,067 (1,396 ) 1,608 Net (decrease) increase in cash and cash equivalents — (1 ) 3 — 2 Increase in cash and cash equivalents in assets held for sale — — (1 ) — (1 ) Cash and cash equivalents at beginning of period — 1 316 — 317 Cash and cash equivalents at end of period $ — $ — $ 318 $ — $ 318

New Accounting Standard (Unaudi

New Accounting Standard (Unaudited)	6 Months Ended
	Jun. 30, 2016
New Accounting Standards [Abstract]
New Accounting Standard	NEW ACCOUNTING STANDARDS In May 2015, the Financial Accounting Standards Board (FASB) issued an ASU that removes the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the NAV per share (or its equivalent) as a practical expedient. FCX adopted this ASU effective January 1, 2016, and the prior period disclosures have been restated to remove these investments from the levels within the fair value hierarchy (refer to Note 8 ). In January 2016, FASB issued an ASU that amends the current guidance on the classification and measurement of financial instruments. This ASU makes limited changes to existing guidance and amends certain disclosure requirements. For public entities, this ASU is effective for interim and annual periods beginning after December 15, 2017. Early adoption is not permitted, except for the provision on recording fair value changes for financial liabilities under the fair value option. FCX is currently evaluating the impact this ASU will have on its financial reporting and disclosures, but at this time does not expect the adoption of this ASU will have a material impact on its financial statements. In February 2016, FASB issued an ASU that will require lessees to recognize most leases on the balance sheet. This ASU allows lessees to make an accounting policy election to not recognize a lease asset and liability for leases with a term of 12 months or less and do not have a purchase option that is expected to be exercised. For public entities, this ASU is effective for interim and annual reporting periods beginning after December 15, 2018, with early adoption permitted. This ASU must be applied using the modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements. FCX is currently evaluating the impact this guidance will have on its financial statements. In March 2016, FASB issued an ASU that simplifies various aspects of the accounting for share-based payment transactions, including the income tax consequences, statutory tax withholding requirements, an accounting policy election for forfeitures and the classification on the statement of cash flows. For public entities, this ASU is effective for interim and annual periods beginning after December 15, 2016, with early adoption permitted. Each of the amendments in this ASU provides specific transition requirements. FCX is currently evaluating the impact this guidance will have on its financial statements.

Subsequent Events (Unaudited)

Subsequent Events (Unaudited)	6 Months Ended
	Jun. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS On July 27, 2016 , FCX commenced a new registered at-the-market equity offering of up to $1.5 billion of common stock. From July 27, 2016, through August 4, 2016 , FCX sold 13 million shares of its common stock at an average price of $12.69 per share, which generated gross proceeds of $167 million (proceeds of $166 million net of approximately $1 million of commissions and expenses). FCX will use the proceeds to retire outstanding indebtedness. FCX evaluated events after June 30, 2016 , 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.

Dispositions (Tables)

Dispositions (Tables)	6 Months Ended
	Jun. 30, 2016
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Assets and Liabilities Disposed of by Sale in Period of Disposition	The carrying amounts of TFHL's major classes of assets, liabilities and noncontrolling interests, which are presented as held for sale in the consolidated balance sheets, follow (in millions): June 30, December 31, 2015 Assets Cash and cash equivalents $ 78 $ 29 Inventories 1,152 584 Receivables and other current assets 154 131 Property, plant, equipment and mining development costs, net 3,056 — Other assets 226 — Total current assets held for sale $ 4,666 $ 744 Property, plant, equipment and mining development costs, net $ — $ 3,261 Inventories — 608 Other assets — 241 Total long-term assets held for sale $ — $ 4,110 Liabilities Accounts payable and accrued liabilities $ 99 $ 108 Deferred income taxes 679 — Asset retirement obligations and other liabilities 46 — Total current liabilities held for sale $ 824 $ 108 Deferred income taxes $ — $ 681 Asset retirement obligations and other liabilities — 37 Total long-term liabilities held for sale $ — $ 718 Noncontrolling interests $ 1,185 $ 1,178
Disposal Groups, Including Discontinued Operations	Net (loss) income from discontinued operations in the consolidated statements of operations consists of the following (in millions): Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Revenues a $ 272 $ 310 $ 558 $ 692 Costs and expenses: Production and delivery costs 256 197 482 430 Depreciation, depletion and amortization 20 b 57 80 b 130 Interest expense allocated from parent c 11 7 21 14 Other costs and expenses, net 5 8 6 17 (Loss) income before income taxes and estimated loss on disposal (20 ) 41 (31 ) 101 Estimated loss on disposal d (177 ) — (177 ) — Net (loss) income before income taxes (197 ) 41 (208 ) 101 Benefit from (provision for) income taxes 16 (12 ) 23 (31 ) Net (loss) income from discontinued operations $ (181 ) $ 29 $ (185 ) $ 70 a. In accordance with accounting guidance, amounts are net of eliminations of intercompany sales totaling $41 million in both second-quarter 2016 and 2015, $73 million for the first six months of 2016 and $69 million for the first six months of 2015. b. In accordance with accounting guidance, depreciation, depletion and amortization is not recognized subsequent to classification as assets held for sale. c. In accordance with accounting guidance, interest associated with FCX's Term Loan that will be required to be repaid as a result of the sale of TFHL has been allocated to discontinued operations. d. In accordance with accounting guidance, an estimated loss on disposal was recorded, which will be adjusted through closing of the transaction.
Cash Flows from Discontinued Operations	Cash flows from discontinued operations included in the consolidated statements of cash flows follow (in millions): Six Months Ended June 30, 2016 2015 Net cash provided by operating activities $ 157 $ 153 Net cash used in investing activities (57 ) (105 ) Net cash used in financing activities (51 ) (47 ) Increase in cash and cash equivalents in assets held for sale $ 49 $ 1

Earnings Per Share (Unaudited)

Earnings Per Share (Unaudited) (Tables)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Reconciliation of net income and weighted-average shares of common stock outstanding	A reconciliation of net loss 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 Six Months Ended June 30, June 30, 2016 2015 2016 2015 Net loss from continuing operations $ (229 ) $ (1,828 ) $ (4,326 ) $ (4,275 ) Net income from continuing operations attributable to noncontrolling interests (47 ) (16 ) (109 ) (48 ) Preferred dividends on redeemable noncontrolling interest (10 ) (10 ) (21 ) (20 ) Undistributed earnings allocated to participating securities (3 ) (3 ) (3 ) (3 ) Net loss from continuing operations attributable to common stockholders $ (289 ) $ (1,857 ) $ (4,459 ) $ (4,346 ) Net (loss) income from discontinued operations $ (181 ) $ 29 $ (185 ) $ 70 Net income from discontinued operations attributable to noncontrolling interests (12 ) (26 ) (22 ) (52 ) Net (loss) income from discontinued operations attributable to common stockholders $ (193 ) $ 3 $ (207 ) $ 18 Net loss attributable to common stockholders $ (482 ) $ (1,854 ) $ (4,666 ) $ (4,328 ) Basic weighted-average shares of common stock outstanding 1,269 1,040 1,260 1,040 Add shares issuable upon exercise or vesting of dilutive stock options and RSUs — a — a — a — a Diluted weighted-average shares of common stock outstanding 1,269 1,040 1,260 1,040 Basic and diluted net (loss) income per share attributable to common stockholders: Continuing operations $ (0.23 ) $ (1.78 ) $ (3.54 ) $ (4.18 ) Discontinued operations (0.15 ) — (0.16 ) 0.02 $ (0.38 ) $ (1.78 ) $ (3.70 ) $ (4.16 ) a. Excludes 12 million shares of common stock for second-quarter 2016 , 15 million for second-quarter 2015 , 11 million for the first six months of 2016 , and 14 million for the first six months of 2015 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-T22

Inventories, Including Long-Term Mill and Leach Stockpiles (Unaudited) (Tables)	6 Months Ended
	Jun. 30, 2016
Inventories, Including Long Term Mill and Leach Stockpiles [Abstract]
Schedule of Inventory [Table Text Block]	The components of inventories follow (in millions): June 30, December 31, 2015 Current inventories: Mill stockpiles $ 146 $ 137 Leach stockpiles 1,202 1,402 Total current mill and leach stockpiles $ 1,348 $ 1,539 Total materials and supplies, net a $ 1,338 $ 1,594 Raw materials (primarily concentrate) $ 222 $ 220 Work-in-process 93 108 Finished goods 743 743 Total product inventories $ 1,058 $ 1,071 Long-term inventories: Mill stockpiles $ 584 $ 480 Leach stockpiles 1,158 1,183 Total long-term mill and leach stockpiles b $ 1,742 $ 1,663 a. Materials and supplies inventory was net of obsolescence reserves totaling $29 million at June 30, 2016 , and $26 million at December 31, 2015 . b. Estimated metals in stockpiles not expected to be recovered within the next 12 months.

Income Taxes (Unaudited) (Table

Income Taxes (Unaudited) (Tables)	6 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Geographic Sources of Provision for Income Taxes	Geographic sources of FCX's (provision for) benefit from income taxes follow (in millions): Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 U.S. operations $ (49 ) $ 829 $ (38 ) $ 1,664 International operations (67 ) (130 ) (155 ) (251 ) Total $ (116 ) $ 699 $ (193 ) $ 1,413

Debt and Equity Transactions 24

Debt and Equity Transactions (Unaudited) Debt (Tables)	6 Months Ended
	Jun. 30, 2016
Debt Instrument [Line Items]
Schedule of Extinguishment of Debt [Table Text Block]	A summary of these debt extinguishments follows (in millions): Principal Amount Discounts/Deferred Debt Issuance Costs Book Value Gain 3.55% Senior Notes due 2022 $ 85 $ — $ 85 $ 9 3.875% Senior Notes due 2023 52 — 52 6 5.40% Senior Notes due 2034 50 1 49 8 5.450% Senior Notes due 2043 81 1 80 16 Total $ 268 $ 2 $ 266 $ 39
Schedule of Debt [Table Text Block]	The components of debt follow (in millions): June 30, December 31, 2015 Term Loan $ 2,446 $ 3,032 Revolving credit facility — — Cerro Verde credit facility 1,784 1,781 Cerro Verde shareholder loans 261 259 Lines of credit 192 442 Senior notes and debentures: Issued by FCX 11,648 11,908 Issued by Freeport-McMoRan Oil & Gas LLC (FM O&G LLC) 2,524 2,539 Issued by FMC 359 359 Other (including equipment capital leases and other short-term borrowings) 105 108 Total debt a 19,319 20,428 Less current portion of debt (770 ) (649 ) Long-term debt $ 18,549 $ 19,779 a. Includes additions for unamortized fair value adjustments totaling $195 million at June 30, 2016, and $210 million at December 31, 2015, and net reductions for unamortized debt issuance costs and unamortized discounts of $120 million at June 30, 2016, and $129 million at December 31, 2015.

Financial Instruments (Unaudi25

Financial Instruments (Unaudited) (Tables)	6 Months Ended
	Jun. 30, 2016
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 Six Months Ended June 30, June 30, 2016 2015 2016 2015 Copper futures and swap contracts: Unrealized gains (losses): Derivative financial instruments $ 3 $ (4 ) $ 10 $ 2 Hedged item – firm sales commitments (3 ) 4 (10 ) (2 ) Realized losses: Matured derivative financial instruments (4 ) (1 ) (8 ) (11 )
Schedule of Derivative Instruments	A summary of FCX’s embedded derivatives at June 30, 2016 , follows: Open Positions Average Price Per Unit Maturities Through Contract Market Embedded derivatives in provisional sales contracts: Copper (millions of pounds) 769 $ 2.16 $ 2.20 November 2016 Gold (thousands of ounces) 90 1,259 1,322 October 2016 Embedded derivatives in provisional purchase contracts: Copper (millions of pounds) 123 2.17 2.20 October 2016
Realized and unrealized gains (losses) for derivative financial instruments that do not qualify as hedge transactions	A summary of the realized and unrealized gains (losses) recognized in FCX's loss 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 Six Months Ended June 30, June 30, 2016 2015 2016 2015 Embedded derivatives in provisional copper and gold sales contracts a $ 4 $ (73 ) $ 76 $ (144 ) Copper forward contracts b (2 ) (6 ) 5 (7 ) Crude oil options a — 6 — 58 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 the fair values of unsettled commodity derivative financial instruments follows (in millions): June 30, December 31, 2015 Commodity Derivative Assets: Derivatives designated as hedging instruments : Copper futures and swap contracts a $ 4 $ 1 Derivatives not designated as hedging instruments : Embedded derivatives in provisional copper and gold sales/purchase contracts 49 19 Copper forward contracts 2 — Total derivative assets $ 55 $ 20 Commodity Derivative Liabilities: Derivatives designated as hedging instruments : Copper futures and swap contracts a $ 3 $ 11 Derivatives not designated as hedging instruments : Embedded derivatives in provisional copper and gold sales/purchase contracts 18 81 Copper forward contracts 1 — Total derivative liabilities $ 22 $ 92 a. FCX paid $3 million to brokers at June 30, 2016 , and $10 million at December 31, 2015 , for margin requirements (recorded in other current assets). A summary of these unsettled commodity contracts that are offset in the balance sheet follows (in millions): Assets Liabilities June 30, 2016 December 31, 2015 June 30, 2016 December 31, 2015 Gross amounts recognized: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts $ 49 $ 19 $ 18 $ 81 Copper derivatives 6 1 4 11 55 20 22 92 Less gross amounts of offset: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts 3 5 3 5 Copper derivatives 4 1 4 1 7 6 7 6 Net amounts presented in balance sheet: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts 46 14 15 76 Copper derivatives 2 — — 10 $ 48 $ 14 $ 15 $ 86 Balance sheet classification: Trade accounts receivable $ 48 $ 9 $ 8 $ 51 Accounts payable and accrued liabilities — 5 7 35 $ 48 $ 14 $ 15 $ 86

Fair Value Measurement (Unaud26

Fair Value Measurement (Unaudited) (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
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, and accounts payable and accrued liabilities (refer to Note 7 ) follows (in millions): At June 30, 2016 Carrying Fair Value Amount Total NAV Level 1 Level 2 Level 3 Assets Investment securities: a,b U.S. core fixed income fund at NAV $ 24 $ 24 $ 24 $ — $ — $ — Money market funds 22 22 — 22 — — Equity securities 4 4 — 4 — — Total 50 50 24 26 — — Legally restricted funds: a,b,c,d U.S. core fixed income fund at NAV 55 55 55 — — — Government bonds and notes 38 38 — — 38 — Government mortgage-backed securities 30 30 — — 30 — Corporate bonds 30 30 — — 30 — Asset-backed securities 15 15 — — 15 — Money market funds 12 12 — 12 — — Collateralized mortgage-backed securities 6 6 — — 6 — Municipal bonds 1 1 — — 1 — Total 187 187 55 12 120 — Derivatives: a,e Embedded derivatives in provisional sales/ purchase contracts in a gross asset position 49 49 — — 49 — Copper futures and swap contracts 4 4 — 4 — — Copper forward contracts 2 2 — 1 1 — Total 55 55 — 5 50 — Total assets $ 292 $ 79 $ 43 $ 170 $ — Liabilities Derivatives: a,e Embedded derivatives in provisional sales/ purchase contracts in a gross liability position $ 18 $ 18 $ — $ — $ 18 $ — Copper futures and swap contracts 3 3 — 1 2 — Copper forward contracts 1 1 — 1 — — Total 22 22 — 2 20 — Contingent consideration for the settlements of drilling rig contracts f 25 25 — — 25 — Long-term debt, including current portion g 19,319 17,772 — — 17,772 — Total liabilities $ 17,819 $ — $ 2 $ 17,817 $ — At December 31, 2015 Carrying Fair Value Amount Total NAV Level 1 Level 2 Level 3 Assets Investment securities: a,b U.S. core fixed income fund at NAV $ 23 $ 23 $ 23 $ — $ — $ — Money market funds 21 21 — 21 — — Equity securities 3 3 — 3 — — Total 47 47 23 24 — — Legally restricted funds: a,b,c,d U.S. core fixed income fund at NAV 52 52 52 — — — Government bonds and notes 37 37 — — 37 — Government mortgage-backed securities 28 28 — — 28 — Corporate bonds 26 26 — — 26 — Asset-backed securities 13 13 — — 13 — Collateralized mortgage-backed securities 7 7 — — 7 — Money market funds 7 7 — 7 — — Municipal bonds 1 1 — — 1 — Total 171 171 52 7 112 — Derivatives: a,e Embedded derivatives in provisional sales/ purchase contracts in a gross asset position 19 19 — — 19 — Copper futures and swap contracts 1 1 — 1 — — Total 20 20 — 1 19 — Total assets $ 238 $ 75 $ 32 $ 131 $ — Liabilities Derivatives: a,e Embedded derivatives in provisional sales/ purchase contracts in a gross liability position $ 81 $ 81 $ — $ — $ 81 $ — Copper futures and swap contracts 11 11 — 7 4 — Total 92 92 — 7 85 — Long-term debt, including current portion g 20,428 13,987 — — 13,987 — Total liabilities $ 14,079 $ — $ 7 $ 14,072 $ — 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 $120 million at June 30, 2016 , and $118 million at December 31, 2015 , primarily associated with an assurance bond to support PT Freeport Indonesia's (PT-FI) commitment for smelter development in Indonesia. d. Excludes time deposits (which approximated fair value) included in other current assets of $30 million at June 30, 2016 , and $28 million at December 31, 2015 . e. Refer to Note 7 for further discussion and balance sheet classifications. f. Included in other liabilities. g. 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)	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Schedule of Segment Reporting Information By Segment	Financial Information by Business Segments (In millions) Mining Operations a North America Copper Mines South America Indonesia Atlantic Other Corporate, Molyb- Copper Mining U.S. Other Cerro denum Rod & Smelting & Elimi- Total Oil & Gas & Elimi- FCX Morenci Other Total Verde Other Total Grasberg Mines Refining & Refining nations Mining Operations nations Total Three Months Ended June 30, 2016 Revenues: Unaffiliated customers $ 79 $ 43 $ 122 $ 494 $ 123 $ 617 $ 532 b $ — $ 919 $ 493 $ 241 c $ 2,924 $ 410 $ — $ 3,334 Intersegment 404 534 938 60 — 60 (1 ) d 45 7 2 (1,051 ) — — — — Production and delivery 298 428 726 303 103 406 356 50 919 466 (866 ) 2,057 889 e 10 2,956 Depreciation, depletion and amortization 57 77 134 109 27 136 93 17 3 7 20 410 218 4 632 Impairment of oil and gas properties — — — — — — — — — — — — 290 1 f 291 Selling, general and administrative expenses 1 1 2 2 — 2 22 — — 4 2 32 81 g 47 160 Mining exploration and research expenses — — — — — — — — — — 15 15 — — 15 Environmental obligations and shutdown costs — — — — — — — — — — 10 10 — 1 11 Net gain on sales of assets (577 ) — (577 ) — — — — — — — (172 ) (749 ) — — (749 ) Operating income (loss) 704 71 775 140 (7 ) 133 60 (22 ) 4 18 181 1,149 (1,068 ) (63 ) 18 Interest expense, net — 1 1 20 — 20 — — — 4 19 44 93 59 196 Provision for (benefit from) income taxes — — — 45 (2 ) 43 18 — — — — 61 — 55 116 Total assets at June 30, 2016 2,960 4,676 7,636 9,330 1,609 10,939 9,550 1,969 217 607 6,151 h 37,069 3,902 325 41,296 Capital expenditures 37 5 42 135 1 136 234 — — 5 24 i 441 388 j 4 833 Three Months Ended June 30, 2015 Revenues: Unaffiliated customers $ 180 $ 92 $ 272 $ 195 $ 221 $ 416 $ 792 b $ — $ 1,089 $ 495 $ 305 c $ 3,369 $ 569 k $ — $ 3,938 Intersegment 427 706 1,133 37 — 37 (2 ) d 102 8 5 (1,283 ) — — — — Production and delivery 386 576 l 962 165 150 315 455 84 l 1,088 468 (1,004 ) l 2,368 281 e 2 2,651 Depreciation, depletion and amortization 55 84 139 40 32 72 78 25 3 9 19 345 485 3 833 Impairment of oil and gas properties — — — — — — — — — — — — 2,686 — 2,686 Selling, general and administrative expenses — 2 2 — 1 1 25 — — 4 5 37 49 62 148 Mining exploration and research expenses — 2 2 — — — — — — — 28 30 — — 30 Environmental obligations and shutdown costs — — — — — — — — — — 11 11 — — 11 Operating income (loss) 166 134 300 27 38 65 232 (7 ) 6 19 (37 ) 578 (2,932 ) (67 ) (2,421 ) Interest expense, net — 1 1 — — — — — — 2 39 42 41 59 142 Provision for (benefit from) income taxes — — — (5 ) 11 6 95 — — — — 101 — (800 ) (699 ) Total assets at June 30, 2015 3,806 5,582 9,388 8,567 1,935 10,502 8,959 2,052 286 786 6,461 h 38,434 15,393 181 54,008 Capital expenditures 79 28 107 444 13 457 213 4 — 4 70 i 855 777 j 29 1,661 a. Excludes the results of Tenke, which is reported as discontinued operations (refer to Note 2). b. Includes PT-FI’s sales to PT Smelting totaling $287 million in second-quarter 2016 and $293 million in second-quarter 2015 . 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. Reflects net reductions for provisional pricing adjustments to prior period open sales. There were no intersegment sales from Grasberg in second-quarter 2016 or 2015. e. Includes charges at oil and gas operations totaling $692 million in second-quarter 2016 and $22 million in second-quarter 2015 , primarily associated with drillship settlement/idle rig costs and inventory write-downs. f. Reflects impairment charges for international oil and gas properties primarily in Morocco. g. Includes $37 million for net restructuring charges. h. Includes assets held for sale totaling $4.7 billion at June 30, 2016 and $4.9 billion at June 30, 2015 , associated with discontinued operations (refer to Note 2). i. Includes capital expenditures of $20 million in second-quarter 2016 and $58 million in second-quarter 2015 associated with discontinued operations. j. Excludes international oil and gas capital expenditures totaling $4 million in second-quarter 2016 and $29 million in second-quarter 2015 , primarily related to the Morocco oil and gas properties, which are included in Corporate, Other & Eliminations. k. Includes net mark-to-market gains of $6 million associated with crude oil derivative contracts. l. Includes inventory adjustments totaling $11 million at other North America copper mines, $3 million at Molybdenum mines and $ 45 million at Other Mining & Eliminations. (In millions) Mining Operations a North America Copper Mines South America Indonesia Atlantic Other Corporate, Molyb- Copper Mining U.S. Other Cerro denum Rod & Smelting & Elimi- Total Oil & Gas & Elimi- FCX Morenci Other Total Verde Other Total Grasberg Mines Refining & Refining nations Mining Operations nations Total Six Months Ended June 30, 2016 Revenues: Unaffiliated customers $ 241 $ 99 $ 340 $ 980 $ 267 $ 1,247 $ 1,030 b $ — $ 1,890 $ 915 $ 449 c $ 5,871 $ 705 $ — $ 6,576 Intersegment 761 1,095 1,856 101 — 101 57 90 15 3 (2,122 ) — — — — Production and delivery 638 876 1,514 594 222 816 750 102 1,889 859 (1,784 ) 4,146 1,296 d 13 5,455 Depreciation, depletion and amortization 119 159 278 210 58 268 174 36 5 15 38 814 473 7 1,294 Impairment of oil and gas properties — — — — — — — — — — — — 4,061 17 e 4,078 Selling, general and administrative expenses 1 2 3 4 — 4 36 — — 8 6 57 130 f 111 298 Mining exploration and research expenses — 1 1 — — — — — — — 32 33 — — 33 Environmental obligations and shutdown costs — — — — — — — — — — 20 20 — 1 21 Net gain on sales of assets (577 ) — (577 ) — — — — — — — (172 ) (749 ) — — (749 ) Operating income (loss) 821 156 977 273 (13 ) 260 127 (48 ) 11 36 187 1,550 (5,255 ) (149 ) (3,854 ) Interest expense, net 1 1 2 42 — 42 — — — 8 39 91 164 132 387 Provision for (benefit from) income taxes — — — 90 (8 ) 82 54 — — — — 136 — 57 193 Capital expenditures 65 11 76 291 2 293 459 1 1 7 63 g 900 868 h 47 1,815 Six Months Ended June 30, 2015 Revenues: Unaffiliated customers $ 286 $ 207 $ 493 $ 443 $ 452 $ 895 $ 1,413 b $ — $ 2,151 $ 1,035 $ 653 c $ 6,640 $ 1,069 i $ — $ 7,709 Intersegment 877 1,370 2,247 51 (7 ) j 44 (16 ) j 215 15 11 (2,516 ) — — — — Production and delivery 760 1,145 k 1,905 363 297 660 894 167 k 2,151 987 (2,003 ) k 4,761 564 d 5 5,330 Depreciation, depletion and amortization 106 166 272 77 70 147 148 51 5 19 35 677 1,015 7 1,699 Impairment of oil and gas properties — — — — — — — — — — — — 5,790 — 5,790 Selling, general and administrative expenses 1 2 3 1 1 2 50 — — 9 11 75 103 121 299 Mining exploration and research expenses — 5 5 — — — — — — — 52 57 — — 57 Environmental obligations and shutdown costs — — — — — — — — — — 24 24 — — 24 Net gain on sales of assets — (39 ) (39 ) — — — — — — — — (39 ) — — (39 ) Operating income (loss) 296 298 594 53 77 130 305 (3 ) 10 31 18 1,085 (6,403 ) (133 ) (5,451 ) Interest expense, net 1 1 2 1 — 1 — — — 5 79 87 78 116 281 Provision for (benefit from) income taxes — — — — 30 30 124 — — — — 154 — (1,567 ) (1,413 ) Capital expenditures 163 51 214 875 27 902 438 7 1 8 119 g 1,689 1,795 h 44 3,528 a. Excludes the results of Tenke, which is reported as discontinued operations (refer to Note 2). b. Includes PT-FI's sales to PT Smelting totaling $564 million for the first six months of 2016 and $643 million for the first six months of 2015 . 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 charges at oil and gas operations totaling $892 million for the first six months of 2016 and $39 million for the first six months of 2015 , primarily associated with drillship settlement/idle rig costs and inventory write downs. e. Reflects impairment charges for international oil and gas properties primarily in Morocco. f. Includes $39 million for net restructuring charges. g. Includes capital expenditures of $55 million for the first six months of 2016 and $97 million for the first six months of 2015 associated with discontinued operations. h. Excludes international oil and gas capital expenditures totaling $47 million for the first six months of 2016 and $44 million for the first six months of 2015 , primarily related to the Morocco oil and gas properties, which are included in Corporate, Other & Eliminations. i. Includes net mark-to-market gains of $58 million associated with crude oil derivative contracts. j. Reflects net reductions for provisional pricing adjustments to prior period open sales. There were no intersegment sales from El Abra or Grasberg for the first six months of 2015. k. Includes inventory adjustments totaling $11 million at other North America copper mines, $3 million at Molybdenum mines and $ 49 million at Other Mining & Eliminations for the first six months of 2015 .

Guarantor Financial Statement28

Guarantor Financial Statements (Unaudited) (Tables)	6 Months Ended
	Jun. 30, 2016
Guarantor Financial Statements [Abstract]
Condensed Consolidating Balance Sheets [Table Text Block]	CONDENSED CONSOLIDATING BALANCE SHEET June 30, 2016 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX ASSETS Current assets, other than assets held for sale $ 267 $ 2,792 $ 6,902 $ (3,927 ) $ 6,034 Current assets held for sale — — 4,666 — 4,666 Property, plant, equipment and mining development costs, net 23 57 23,529 — 23,609 Oil and gas properties, net - full cost method: Subject to amortization, less accumulated amortization and impairments — 356 1,025 — 1,381 Not subject to amortization — 408 1,246 2 1,656 Investments in consolidated subsidiaries 19,759 — — (19,759 ) — Other assets 1,389 42 3,866 (1,347 ) 3,950 Total assets $ 21,438 $ 3,655 $ 41,234 $ (25,031 ) $ 41,296 LIABILITIES AND EQUITY Current liabilities, other than liabilities held for sale $ 2,811 $ 534 $ 4,288 $ (3,917 ) $ 3,716 Current liabilities held for sale — — 824 — 824 Long-term debt, less current portion 13,520 7,425 12,064 (14,460 ) 18,549 Deferred income taxes 1,064 a — 2,694 — 3,758 Environmental and asset retirement obligations, less current portion — 313 3,384 — 3,697 Investments in consolidated subsidiaries — 649 8,647 (9,296 ) — Other liabilities 40 3,381 1,730 (3,489 ) 1,662 Total liabilities 17,435 12,302 33,631 (31,162 ) 32,206 Redeemable noncontrolling interest — — 771 — 771 Equity: Stockholders' equity 4,003 (8,647 ) 3,067 5,580 4,003 Noncontrolling interests — — 3,765 551 4,316 Total equity 4,003 (8,647 ) 6,832 6,131 8,319 Total liabilities and equity $ 21,438 $ 3,655 $ 41,234 $ (25,031 ) $ 41,296 a. All U.S. related deferred income taxes are recorded at the parent company. CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2015 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX ASSETS Current assets, other than assets held for sale $ 181 $ 3,831 $ 10,238 $ (7,532 ) $ 6,718 Current assets held for sale — — 744 — 744 Property, plant, equipment and mining development costs, net 26 57 24,165 — 24,248 Oil and gas properties, net - full cost method: Subject to amortization, less accumulated amortization and impairments — 710 1,552 — 2,262 Not subject to amortization — 1,393 3,432 6 4,831 Investments in consolidated subsidiaries 24,311 — — (24,311 ) — Other assets 5,038 1,826 3,598 (6,798 ) 3,664 Assets held for sale — — 4,110 — 4,110 Total assets $ 29,556 $ 7,817 $ 47,839 $ (38,635 ) $ 46,577 LIABILITIES AND EQUITY Current liabilities, other than assets held for sale $ 6,012 $ 666 $ 5,047 $ (7,526 ) $ 4,199 Current liabilities held for sale — — 108 — 108 Long-term debt, less current portion 14,735 5,883 11,594 (12,433 ) 19,779 Deferred income taxes 941 a — 2,666 — 3,607 Environmental and asset retirement obligations, less current portion — 305 3,412 — 3,717 Investment in consolidated subsidiary — — 2,397 (2,397 ) — Other liabilities 40 3,360 1,732 (3,491 ) 1,641 Liabilities held for sale — — 718 — 718 Total liabilities 21,728 10,214 27,674 (25,847 ) 33,769 Redeemable noncontrolling interest — — 764 — 764 Equity: Stockholders' equity 7,828 (2,397 ) 15,725 (13,328 ) 7,828 Noncontrolling interests — — 3,676 540 4,216 Total equity 7,828 (2,397 ) 19,401 (12,788 ) 12,044 Total liabilities and equity $ 29,556 $ 7,817 $ 47,839 $ (38,635 ) $ 46,577 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 June 30, 2016 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 106 $ 3,228 $ — $ 3,334 Total costs and expenses 17 964 a 2,335 a — 3,316 Operating (loss) income (17 ) (858 ) 893 — 18 Interest expense, net (141 ) (15 ) (124 ) 84 (196 ) Other income (expense), net 107 — 28 (71 ) 64 (Loss) income before income taxes and equity in affiliated companies' net (losses) earnings (51 ) (873 ) 797 13 (114 ) (Provision for) benefit from income taxes (345 ) 306 (69 ) (8 ) (116 ) Equity in affiliated companies' net (losses) earnings (90 ) (280 ) (853 ) 1,224 1 Net (loss) income from continuing operations (486 ) (847 ) (125 ) 1,229 (229 ) Net income (loss) from discontinued operations 5 — (175 ) (11 ) (181 ) Net (loss) income (481 ) (847 ) (300 ) 1,218 (410 ) Net income and preferred dividends attributable to noncontrolling interests: Continuing operations — — (50 ) (7 ) (57 ) Discontinued operations — — (12 ) — (12 ) Net (loss) income attributable to common stockholders $ (481 ) $ (847 ) $ (362 ) $ 1,211 $ (479 ) Other comprehensive income (loss) 15 — 15 (15 ) 15 Total comprehensive (loss) income $ (466 ) $ (847 ) $ (347 ) $ 1,196 $ (464 ) a. Includes charges totaling $0.2 billion at the FM O&G LLC guarantor and $0.1 billion at the non-guarantor subsidiaries related to impairment of FCX's oil and gas properties pursuant to full cost accounting rules. Six Months Ended June 30, 2016 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 184 $ 6,392 $ — $ 6,576 Total costs and expenses 44 2,593 a 7,787 a 6 10,430 Operating loss (44 ) (2,409 ) (1,395 ) (6 ) (3,854 ) Interest expense, net (278 ) (19 ) (238 ) 148 (387 ) Other income (expense), net 157 — 68 (125 ) 100 (Loss) income before income taxes and equity in affiliated companies' net (losses) earnings (165 ) (2,428 ) (1,565 ) 17 (4,141 ) (Provision for) benefit from income taxes (2,128 ) 922 1,019 (6 ) (193 ) Equity in affiliated companies' net (losses) earnings (2,376 ) (2,984 ) (4,483 ) 9,851 8 Net (loss) income from continuing operations (4,669 ) (4,490 ) (5,029 ) 9,862 (4,326 ) Net income (loss) from discontinued operations 5 — (169 ) (21 ) (185 ) Net (loss) income (4,664 ) (4,490 ) (5,198 ) 9,841 (4,511 ) Net income and preferred dividends attributable to noncontrolling interests: Continuing operations — — (117 ) (13 ) (130 ) Discontinued operations — — (22 ) — (22 ) Net (loss) income attributable to common stockholders $ (4,664 ) $ (4,490 ) $ (5,337 ) $ 9,828 $ (4,663 ) Other comprehensive income (loss) 15 — 15 (15 ) 15 Total comprehensive (loss) income $ (4,649 ) $ (4,490 ) $ (5,322 ) $ 9,813 $ (4,648 ) a. Includes charges totaling $1.5 billion at the FM O&G LLC guarantor and $2.6 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 (LOSS) INCOME Three Months Ended June 30, 2015 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 169 $ 3,769 $ — $ 3,938 Total costs and expenses 19 1,217 a 5,120 a 3 6,359 Operating loss (19 ) (1,048 ) (1,351 ) (3 ) (2,421 ) Interest expense, net (121 ) (2 ) (53 ) 34 (142 ) Other income (expense), net 127 — (57 ) (34 ) 36 Loss before income taxes and equity in affiliated companies' net (losses) earnings (13 ) (1,050 ) (1,461 ) (3 ) (2,527 ) (Provision for) benefit from income taxes (265 ) 374 592 (2 ) 699 Equity in affiliated companies' net (losses) earnings (1,573 ) (1,920 ) (2,972 ) 6,465 — Net (loss) income from continuing operations (1,851 ) (2,596 ) (3,841 ) 6,460 (1,828 ) Net income from discontinued operations — — 22 7 29 Net (loss) income (1,851 ) (2,596 ) (3,819 ) 6,467 (1,799 ) Net income and preferred dividends attributable to noncontrolling interests: Continuing operations — — (12 ) (14 ) (26 ) Discontinued operations — — (26 ) — (26 ) Net (loss) income attributable to common stockholders $ (1,851 ) $ (2,596 ) $ (3,857 ) $ 6,453 $ (1,851 ) Other comprehensive income (loss) 9 — 9 (9 ) 9 Total comprehensive (loss) income $ (1,842 ) $ (2,596 ) $ (3,848 ) $ 6,444 $ (1,842 ) a. Includes charges totaling $1.0 billion at the FM O&G LLC guarantor and $1.7 billion at the non-guarantor subsidiaries related to impairment of FCX's oil and gas properties pursuant to full cost accounting rules. Six Months Ended June 30, 2015 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 350 $ 7,359 $ — $ 7,709 Total costs and expenses 35 2,535 a 10,603 a (13 ) 13,160 Operating (loss) income (35 ) (2,185 ) (3,244 ) 13 (5,451 ) Interest expense, net (236 ) (6 ) (96 ) 57 (281 ) Other income (expense), net 156 — (49 ) (64 ) 43 (Loss) income before income taxes and equity in affiliated companies' net (losses) earnings (115 ) (2,191 ) (3,389 ) 6 (5,689 ) (Provision for) benefit from income taxes (686 ) 790 1,317 (8 ) 1,413 Equity in affiliated companies' net (losses) earnings (3,524 ) (4,279 ) (6,502 ) 14,306 1 Net (loss) income from continuing operations (4,325 ) (5,680 ) (8,574 ) 14,304 (4,275 ) Net income from discontinued operations — — 56 14 70 Net (loss) income (4,325 ) (5,680 ) (8,518 ) 14,318 (4,205 ) Net income and preferred dividends attributable to noncontrolling interests: Continuing operations — — (42 ) (26 ) (68 ) Discontinued operations — — (52 ) — (52 ) Net (loss) income attributable to common stockholders $ (4,325 ) $ (5,680 ) $ (8,612 ) $ 14,292 $ (4,325 ) Other comprehensive income (loss) 21 — 21 (21 ) 21 Total comprehensive (loss) income $ (4,304 ) $ (5,680 ) $ (8,591 ) $ 14,271 $ (4,304 )
Condensed Consolidating Statements of Cash Flows [Table Text Block]	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Six Months Ended June 30, 2016 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Cash flow from operating activities: Net (loss) income $ (4,664 ) $ (4,490 ) $ (5,198 ) $ 9,841 $ (4,511 ) Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: Depreciation, depletion and amortization 3 92 1,293 (14 ) 1,374 Impairment of oil and gas properties — 1,436 2,622 20 4,078 Equity in losses (earnings) of affiliated companies 2,375 2,985 4,483 (9,851 ) (8 ) Other, net 104 600 (489 ) — 215 Changes in working capital and other tax payments, excluding amounts from dispositions 2,009 (713 ) (836 ) 6 466 Net cash (used in) provided by operating activities (173 ) (90 ) 1,875 2 1,614 Cash flow from investing activities: Capital expenditures — (433 ) (1,380 ) (2 ) (1,815 ) Intercompany loans (994 ) (493 ) — 1,487 — Dividends from (investments in) consolidated subsidiaries 1,935 (41 ) 78 (1,972 ) — Asset sales and other, net — 91 1,189 — 1,280 Net cash provided by (used in) investing activities 941 (876 ) (113 ) (487 ) (535 ) Cash flow from financing activities: Proceeds from debt 1,505 — 1,306 — 2,811 Repayments of debt (2,282 ) — (1,367 ) — (3,649 ) Intercompany loans — 1,018 469 (1,487 ) — Net proceeds from sale of common stock 32 — 42 (42 ) 32 Cash dividends and distributions paid, and contributions received, net (5 ) — (1,989 ) 1,950 (44 ) Other, net (18 ) (52 ) (17 ) 64 (23 ) Net cash (used in) provided by financing activities (768 ) 966 (1,556 ) 485 (873 ) Net increase in cash and cash equivalents — — 206 — 206 Increase in cash and cash equivalents in assets held for sale — — (49 ) — (49 ) Cash and cash equivalents at beginning of period — — 195 — 195 Cash and cash equivalents at end of period $ — $ — $ 352 $ — $ 352 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Six Months Ended June 30, 2015 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Cash flow from operating activities: Net (loss) income $ (4,325 ) $ (5,680 ) $ (8,518 ) $ 14,318 $ (4,205 ) Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: Depreciation, depletion and amortization 2 223 1,638 (34 ) 1,829 Impairment of oil and gas properties — 2,052 3,717 21 5,790 Net gains on crude oil derivative contracts — (58 ) — — (58 ) Equity in losses (earnings) of affiliated companies 3,524 4,279 6,502 (14,306 ) (1 ) Other, net (1,431 ) 9 43 — (1,379 ) Changes in working capital and other tax payments 2,222 (550 ) (1,870 ) 8 (190 ) Net cash (used in) provided by operating activities (8 ) 275 1,512 7 1,786 Cash flow from investing activities: Capital expenditures — (734 ) (2,787 ) (7 ) (3,528 ) Intercompany loans (1,073 ) (794 ) — 1,867 — Dividends from (investments in) consolidated subsidiaries 438 (31 ) 74 (481 ) — Other, net (10 ) (1 ) 137 10 136 Net cash (used in) provided by investing activities (645 ) (1,560 ) (2,576 ) 1,389 (3,392 ) Cash flow from financing activities: Proceeds from debt 2,735 — 1,687 — 4,422 Repayments of debt (1,690 ) — (670 ) — (2,360 ) Intercompany loans — 1,321 546 (1,867 ) — Cash dividends and distributions paid, and contributions received, net (380 ) — (481 ) 421 (440 ) Other, net (12 ) (37 ) (15 ) 50 (14 ) Net cash provided by (used in) financing activities 653 1,284 1,067 (1,396 ) 1,608 Net (decrease) increase in cash and cash equivalents — (1 ) 3 — 2 Increase in cash and cash equivalents in assets held for sale — — (1 ) — (1 ) Cash and cash equivalents at beginning of period — 1 316 — 317 Cash and cash equivalents at end of period $ — $ — $ 318 $ — $ 318

General Information (Unaudite29

General Information (Unaudited) (Details) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)$ / bbl	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)$ / bbl	Jun. 30, 2015USD ($)
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Fair Value Inputs, Discount Rate				10.00%
Accumulated Costs Related to Unproved Properties Transferred to Full Cost Pool		$ 3,100		$ 3,200
Impairment of oil and gas properties	$ (291)		$ (2,686)	$ (4,078)	$ (5,790)
Crude Oil [Member]
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Average Sales Prices | $ / bbl		46.26		43.12

Dispositions (Details)

Dispositions (Details) - USD ($)		Jul. 25, 2016	Jun. 17, 2016	May 31, 2016	May 09, 2016	May 02, 2016	Jun. 30, 2016		Jun. 30, 2015	Jun. 30, 2016		Jun. 30, 2015	Dec. 31, 2016	May 30, 2016	Mar. 31, 2016	Dec. 31, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net proceeds from sale of additional interest in Morenci										$ 996,000,000		$ 0
Intersegment							$ 0		$ 0	0		0
Assets
Total current assets held for sale							4,666,000,000			4,666,000,000						$ 744,000,000
Total long-term assets held for sale							0			0						4,110,000,000
Liabilities
Total current liabilities held for sale							824,000,000			824,000,000						108,000,000
Total long-term liabilities held for sale							0			0						718,000,000
Noncontrolling interests							4,316,000,000			4,316,000,000						4,216,000,000
Costs and expenses:
Net (loss) income from discontinued operations							(181,000,000)		29,000,000	$ (185,000,000)		70,000,000
Morenci [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Change in Ownership, Percentage										13.00%
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | Serbia [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Date						May 2, 2016
Net proceeds from sale of additional interest in Morenci						$ 135,000,000
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High						$ 107,000,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | Timok [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (Loss) on Sale of Previously Unissued Stock by Subsidiary							$ 133,000,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | Morenci [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Date				May 31, 2016
Net proceeds from sale of additional interest in Morenci				$ 1,000,000,000
Gain (Loss) on Sale of Previously Unissued Stock by Subsidiary				$ 577,000,000
Change in Ownership, Percentage				13.00%
Percentage Of Undivided Interest Owned By Company							72.00%			72.00%				85.00%
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | Morenci [Member] | Sumitomo Metal Mining Co., Ltd. [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Percent Of Undivided Interest Owned By Third Party							13.00%			13.00%
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | Morenci [Member] | Sumitomo Metal Mining Arizona Inc. [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Percent Of Undivided Interest Owned By Third Party							15.00%			15.00%				15.00%
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | Oil and Gas Royalty Interests [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Date			Jun. 17, 2016
Net proceeds from sale of additional interest in Morenci			$ 102,000,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | Haynesville [Member] | Subsequent Event [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net proceeds from sale of additional interest in Morenci		$ 87,000,000
Discontinued Operations, Held-for-sale [Member] | Tenke Fungurume [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Date					May 9, 2016
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High					$ 120,000,000
Percentage Of Undivided Interest Owned By Company					70.00%
Proceeds from Divestiture of Businesses, Net of Cash Divested					$ 2,650,000,000
Intersegment							$ (41,000,000)		41,000,000	$ (73,000,000)		(69,000,000)
Assets
Cash and cash equivalents							78,000,000			78,000,000						29,000,000
Inventories							1,152,000,000			1,152,000,000						584,000,000
Receivables and other current assets							154,000,000			154,000,000						131,000,000
Property, plant, equipment and mining development costs, net							3,056,000,000			3,056,000,000						0
Other assets							226,000,000			226,000,000						0
Total current assets held for sale							4,666,000,000			4,666,000,000						744,000,000
Property, plant, equipment and mining development costs, net							0			0						3,261,000,000
Inventories							0			0						608,000,000
Other assets							0			0						241,000,000
Total long-term assets held for sale							0			0						4,110,000,000
Liabilities
Accounts payable and accrued liabilities							99,000,000			99,000,000						108,000,000
Deferred income taxes							679,000,000			679,000,000						0
Asset retirement obligations and other liabilities							46,000,000			46,000,000						0
Total current liabilities held for sale							824,000,000			824,000,000						108,000,000
Deferred income taxes							0			0						681,000,000
Asset retirement obligations and other liabilities							0			0						37,000,000
Total long-term liabilities held for sale							0			0						718,000,000
Noncontrolling interests							1,185,000,000			1,185,000,000						$ 1,178,000,000
Net (Loss) Income from Discontinued Operations in the Consolidated Statements of Operations
Revenues	[1]						272,000,000		310,000,000	558,000,000		692,000,000
Costs and expenses:
Production and delivery costs							256,000,000		197,000,000	482,000,000		430,000,000
Depreciation, depletion and amortization							20,000,000	[2]	57,000,000	80,000,000	[2]	130,000,000
Interest expense allocated from parent	[3]						11,000,000		7,000,000	21,000,000		14,000,000
Other costs and expenses, net							5,000,000		8,000,000	6,000,000		17,000,000
(Loss) income before income taxes and estimated loss on disposal							(20,000,000)		41,000,000	(31,000,000)		101,000,000
Estimated loss on disposal	[4]						(177,000,000)		0	(177,000,000)		0
Net (loss) income before income taxes							(197,000,000)		41,000,000	(208,000,000)		101,000,000
Benefit from (provision for) income taxes							16,000,000		(12,000,000)	23,000,000		(31,000,000)
Net (loss) income from discontinued operations							$ (181,000,000)		$ 29,000,000	$ (185,000,000)		$ 70,000,000
Discontinued Operations, Held-for-sale [Member] | Tenke Fungurume [Member] | Cobalt [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High					60,000,000
Contingent Consideration, Reference Price					20
Discontinued Operations, Held-for-sale [Member] | Tenke Fungurume [Member] | Copper [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High					60,000,000
Contingent Consideration, Reference Price					$ 3.50
Discontinued Operations, Held-for-sale [Member] | Tenke Fungurume [Member] | Lundin Mining Corporation [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Percent Of Undivided Interest Owned By Third Party							30.00%			30.00%
Discontinued Operations, Held-for-sale [Member] | Tenke Fungurume [Member] | Tenke Segments [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Percentage Of Undivided Interest Owned By Company							56.00%			56.00%
Disposal Group, Not Discontinued Operations [Member] | Kokkola Cobalt Chemicals Refinery [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Percentage Of Undivided Interest Owned By Company															56.00%
Disposal Group, Not Discontinued Operations [Member] | Kokkola Cobalt Chemicals Refinery [Member] | Scenario, Forecast [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from Divestiture of Businesses, Net of Cash Divested													$ 100,000,000
Disposal Group, Not Discontinued Operations [Member] | Kisanfu Exploration Project [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Percentage Of Undivided Interest Owned By Company															100.00%
Disposal Group, Not Discontinued Operations [Member] | Kisanfu Exploration Project [Member] | Scenario, Forecast [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from Divestiture of Businesses, Net of Cash Divested													$ 50,000,000
[1]	a.In accordance with accounting guidance, amounts are net of eliminations of intercompany sales totaling $41 million in both second-quarter 2016 and 2015, $73 million for the first six months of 2016 and $69 million for the first six months of 2015.
[2]	b.In accordance with accounting guidance, depreciation, depletion and amortization is not recognized subsequent to classification as assets held for sale.
[3]	c.In accordance with accounting guidance, interest associated with FCX's Term Loan that will be required to be repaid as a result of the sale of TFHL has been allocated to discontinued operations.
[4]	d.In accordance with accounting guidance, an estimated loss on disposal was recorded, which will be adjusted through closing of the transaction.

Dispositions Cash Flow details

Dispositions Cash Flow details (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Increase in cash and cash equivalents in assets held for sale	$ 49	$ 1
Tenke Fungurume [Member] | Discontinued Operations, Held-for-sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net cash provided by operating activities	157	153
Net cash used in investing activities	(57)	(105)
Net cash used in financing activities	(51)	(47)
Increase in cash and cash equivalents in assets held for sale	$ 49	$ 1

Earnings Per Share (Unaudited32

Earnings Per Share (Unaudited) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Earnings Per Share [Abstract]
Net loss from continuing operations		$ (229)	$ (1,828)	$ (4,326)	$ (4,275)
Net income from continuing operations attributable to noncontrolling interests		(47)	(16)	(109)	(48)
Preferred dividends on redeemable noncontrolling interest		(10)	(10)	(21)	(20)
Undistributed earnings allocated to participating securities		(3)	(3)	(3)	(3)
Net loss from continuing operations attributable to common stockholders		(289)	(1,857)	(4,459)	(4,346)
Net (loss) income from discontinued operations		(181)	29	(185)	70
Net income from discontinued operations attributable to noncontrolling interests		(12)	(26)	(22)	(52)
Net (loss) income from discontinued operations attributable to common stockholders		(193)	3	(207)	18
Net loss attributable to common stockholders		$ (482)	$ (1,854)	$ (4,666)	$ (4,328)
Basic weighted-average shares of common stock outstanding		1,269	1,040	1,260	1,040
Add shares issuable upon exercise or vesting of dilutive stock options and RSUs	[1]	0	0	0	0
Diluted weighted-average shares of common stock outstanding		1,269	1,040	1,260	1,040
Basic and diluted net (loss) income per share attributable to common stockholders:
Continuing operations		$ (0.23)	$ (1.78)	$ (3.54)	$ (4.18)
Discontinued operations		(0.15)	0	(0.16)	0.02
Basic and diluted net (loss) income per share attributable to common stockholders:		$ (0.38)	$ (1.78)	$ (3.70)	$ (4.16)
Potential anti-dilutive additional shares of common stock (in shares)		12	15	11	14
Outstanding stock options with exercise prices greater than average market price of common stock (in shares)		46	40	47	40
[1]	Excludes 12 million shares of common stock for second-quarter 2016, 15 million for second-quarter 2015, 11 million for the first six months of 2016, and 14 million for the first six months of 2015 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-T33

Inventories, Including Long-Term Mill and Leach Stockpiles (Unaudited) (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Components of Inventories [Line Items]
Total current mill and leach stockpiles		$ 1,348		$ 1,348		$ 1,539
Total materials and supplies, net	[1]	1,338		1,338		1,594
Raw materials (primarily concentrate)		222		222		220
Work-in-process		93		93		108
Finished goods		743		743		743
Total product inventories		1,058		1,058		1,071
Total long-term mill and leach stockpiles		1,742		1,742		1,663
Inventory obsolescence reserves		29		29		26
Mining inventory adjustments		2	$ 59	7	$ 63
Current [Member]
Components of Inventories [Line Items]
Mill stockpiles		146		146		137
Leach stockpiles		1,202		1,202		1,402
Total current mill and leach stockpiles		1,348		1,348		1,539
Long-Term [Member]
Components of Inventories [Line Items]
Mill stockpiles		584		584		480
Leach stockpiles		1,158		1,158		1,183
Total long-term mill and leach stockpiles	[2]	$ 1,742		$ 1,742		$ 1,663
[1]	Materials and supplies inventory was net of obsolescence reserves totaling $29 million at June 30, 2016, and $26 million at December 31, 2015.
[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		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Consolidated effective income tax rate (percent)			(5.00%)	25.00%
U.S. operations	$ (49)	$ 829	$ (38)	$ 1,664
International operations	(67)	(130)	(155)	(251)
Total	$ (116)	$ 699	(193)	1,413
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount			$ 1,500	$ 763
Effective Income Tax Rate, Adjusted, Percent			33.00%	38.00%

Debt and Equity Transactions 35

Debt and Equity Transactions (Unaudited) (Details) - USD ($) shares in Millions		Aug. 04, 2016	Jul. 29, 2016	Jan. 05, 2016	Aug. 04, 2016	Jul. 31, 2016	Feb. 26, 2016	Jun. 30, 2016	Dec. 31, 2016	Jun. 30, 2016	Jun. 30, 2015	Jan. 05, 2016	Dec. 31, 2015
Extinguishment of Debt [Line Items]
Long-term Debt, Gross	[1]							$ 19,319,000,000		$ 19,319,000,000			$ 20,428,000,000
Debt, Current								(770,000,000)		(770,000,000)			(649,000,000)
Long-term debt, less current portion								18,549,000,000		18,549,000,000			19,779,000,000
Liabilities, Fair Value Adjustment										195,000,000			210,000,000
Unamortized Debt Issuance Expense								120,000,000		120,000,000			$ 129,000,000
Early Repayment of Subordinated Debt								$ 568,000,000
Stock Issued During Period, Shares, New Issues				4				17				210	206
Extinguishment of Debt, Amount								$ 266,000,000
Proceeds from Issuance of Common Stock				$ 1,970,000,000						32,000,000	$ 0
Fees and Commissions				20,000,000
Bank Term Loan [Member]
Extinguishment of Debt [Line Items]
Long-term Debt, Gross								2,446,000,000		2,446,000,000			$ 3,032,000,000
Credit Facility [Domain] | Revolving Credit Facility [Member]
Extinguishment of Debt [Line Items]
Long-term Debt, Gross								0		0			0
Debt Instrument, Amendment Date							Feb. 26, 2016
Line of Credit Facility, Maximum Borrowing Capacity							$ 3,500,000,000						4,000,000,000
Letters of Credit Issued, Amount								40,000,000		40,000,000
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
Line of Credit [Member]
Extinguishment of Debt [Line Items]
Long-term Debt, Gross								192,000,000		192,000,000			442,000,000
Senior Notes [Member]
Extinguishment of Debt [Line Items]
Long-term Debt, Gross								11,648,000,000		11,648,000,000			11,908,000,000
Extinguishment of Debt, Amount								268,000,000
Extinguishment of Debt, Principal Amount								268,000,000
Notes Payable, Other Payables [Member]
Extinguishment of Debt [Line Items]
Long-term Debt, Gross								105,000,000		105,000,000			108,000,000
Cerro Verde [Member] | Credit Facility [Domain]
Extinguishment of Debt [Line Items]
Long-term Debt, Gross								1,784,000,000		1,784,000,000			1,781,000,000
Cerro Verde [Member] | Shareholder Loan [Member]
Extinguishment of Debt [Line Items]
Long-term Debt, Gross								261,000,000		261,000,000			259,000,000
Freeport-McMoRan Oil & Gas [Member]
Extinguishment of Debt [Line Items]
Long-term debt, less current portion								7,425,000,000		7,425,000,000			5,883,000,000
Proceeds from Issuance of Common Stock										0
Freeport-McMoRan Oil & Gas [Member] | Senior Notes [Member]
Extinguishment of Debt [Line Items]
Long-term Debt, Gross								2,524,000,000		2,524,000,000			2,539,000,000
Freeport McMoRan Corporation [Member] | Subordinated Debt [Member]
Extinguishment of Debt [Line Items]
Long-term Debt, Gross								359,000,000		$ 359,000,000			359,000,000
Subsequent Event [Member]
Extinguishment of Debt [Line Items]
Common Stock, Value of Shares Authorized for Issue in Transaction			$ 12,000,000
Stock Issued During Period, Shares, New Issues					8	3
Proceeds from Issuance of Common Stock, Gross						$ 226,000,000
Subsequent Event [Member] | Senior Notes [Member]
Extinguishment of Debt [Line Items]
Extinguishment of Debt, Principal Amount					$ 101,000,000
Common Stock [Member]
Extinguishment of Debt [Line Items]
Stock Issued During Period, Shares, New Issues										70
Proceeds from Issuance of Common Stock, Gross				$ 32,000,000									$ 2,000,000,000
Common Stock [Member] | Subsequent Event [Member]
Extinguishment of Debt [Line Items]
Common Stock, Value of Shares Authorized for Issue in Transaction		$ 12.69
Proceeds from Issuance of Common Stock, Gross		167,000,000			$ 85,000,000
Proceeds from Issuance of Common Stock		166,000,000
Fees and Commissions		$ 1,000,000
Minimum [Member]
Extinguishment of Debt [Line Items]
Asset Sales Required								$ 3,000,000,000		$ 3,000,000,000
Maximum [Member] | Common Stock [Member] | Subsequent Event [Member]
Extinguishment of Debt [Line Items]
Stock Issued During Period, Shares, New Issues		13
Proceeds from Issuance of Common Stock, Gross									$ 1,500,000,000
Morenci [Member]
Extinguishment of Debt [Line Items]
Change in Ownership, Percentage										13.00%
Ultra-deepwater Drillship Contracts [Member]
Extinguishment of Debt [Line Items]
Stock Issued During Period, Shares, New Issues								48
Proceeds from Issuance of Common Stock, Gross								$ 540,000,000
Fees and Commissions								$ 5,000,000
[1]	a.Includes additions for unamortized fair value adjustments totaling $195 million at June 30, 2016, and $210 million at December 31, 2015, and net reductions for unamortized debt issuance costs and unamortized discounts of $120 million at June 30, 2016, and $129 million at December 31, 2015.

Debt and Equity Transactions 36

Debt and Equity Transactions (Unaudited) Interest, Dividends and Maturities (Details) - USD ($) shares in Millions, $ in Millions	Jul. 29, 2016	Jan. 05, 2016	Aug. 04, 2016	Jul. 31, 2016	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Jan. 05, 2016	Dec. 31, 2015
Capitalized Interest [Line Items]
Interest costs incurred					$ 218	$ 208	$ 436	$ 411
Stock Issued During Period, Shares, New Issues		4			17				210	206
Fees and Commissions		$ 20
Property, Plant, Equipment and Mining Development Costs, Net [Member]
Capitalized Interest [Line Items]
Interest costs capitalized					$ 22	47	42	92
Oil and Gas Properties Not Subject to Amortization [Member]
Capitalized Interest [Line Items]
Interest costs capitalized					$ 0	$ 19	$ 7	$ 38
Subsequent Event [Member]
Capitalized Interest [Line Items]
Common Stock, Value of Shares Authorized for Issue in Transaction	$ 12
Stock Issued During Period, Shares, New Issues			8	3
Proceeds from Issuance of Common Stock, Gross				$ 226

Debt and Equity Transactions 37

Debt and Equity Transactions (Unaudited) Early Extinguishment of debt (Details) - USD ($) $ in Millions	Jan. 05, 2016	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Extinguishment of Debt [Line Items]
Write off of Deferred Debt Issuance Cost		$ 2
Extinguishment of Debt, Amount		266
Net gain on early extinguishment of debt		39		$ 0	$ 36	$ 0
Senior Notes [Member]
Extinguishment of Debt [Line Items]
Extinguishment of Debt, Principal Amount		268
Extinguishment of Debt, Amount		268
Revolving Credit Facility [Member]
Extinguishment of Debt [Line Items]
Net gain on early extinguishment of debt			$ 3
5.450% Senior Notes due March 2043 [Member] | Senior Notes [Member]
Extinguishment of Debt [Line Items]
Extinguishment of Debt, Principal Amount		81
Write off of Deferred Debt Issuance Cost		1
Extinguishment of Debt, Amount		80
Net gain on early extinguishment of debt		16
3.55% Senior Notes due 2022 | Senior Notes [Member]
Extinguishment of Debt [Line Items]
Extinguishment of Debt, Principal Amount		85
Write off of Deferred Debt Issuance Cost		0
Extinguishment of Debt, Amount		85
Net gain on early extinguishment of debt		9
3.875% Senior Notes due March 2023 [Member] | Senior Notes [Member]
Extinguishment of Debt [Line Items]
Extinguishment of Debt, Principal Amount		52
Write off of Deferred Debt Issuance Cost		0
Extinguishment of Debt, Amount		52
Net gain on early extinguishment of debt		6
5.40% Senior Notes Due 2034 [Member] [Member] | Senior Notes [Member]
Extinguishment of Debt [Line Items]
Extinguishment of Debt, Principal Amount		50
Write off of Deferred Debt Issuance Cost		1
Extinguishment of Debt, Amount		49
Net gain on early extinguishment of debt		$ 8
Common Stock [Member]
Extinguishment of Debt [Line Items]
Proceeds from Issuance of Common Stock, Gross	$ 32						$ 2,000

Financial Instruments (Unaudi38

Financial Instruments (Unaudited) (Details) - Commodity Contract [Member] - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Fair Value Hedging [Member] | Sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative financial instruments		$ 3	$ (4)	$ 10	$ 2
Hedged item – firm sales commitments		(3)	4	(10)	(2)
Matured derivative financial instruments		(4)	(1)	(8)	(11)
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]	4	(73)	76	(144)
Derivatives not designated as hedging instruments [Member] | Copper Forward Contracts [Member] | Cost of Sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized and unrealized gains (losses)	[2]	(2)	(6)	5	(7)
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]	$ 0	$ 6	$ 0	$ 58
[1]	Amounts recorded in revenues.
[2]	Amounts recorded in cost of sales as production and delivery costs.

Financial Instruments (Unaudi39

Financial Instruments (Unaudited) Open Positions (Details) oz in Thousands, lb in Millions	6 Months Ended
	Jun. 30, 2016ozlb$ / 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	769
Average contract price	2.16
Average market price	2.20
Maturities through	Nov. 30, 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	90
Average contract price | $ / oz	1,259
Average market price | $ / oz	1,322
Maturities through	Oct. 31, 2016
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	123
Average contract price	2.17
Average market price	2.20
Maturities through	Oct. 31, 2016
Fair Value Hedging [Member] | FMC's Copper Futures and Swap Contracts [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Open positions (in lbs except gold in oz) | lb	62
Average contract price	2.18
Maturities through	Mar. 31, 2018
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	14
Average contract price	2.10
Maturities through	Aug. 31, 2016

Financial Instruments (Unaudi40

Financial Instruments (Unaudited) Unsettled Derivatives (Details) - USD ($) $ in Millions		Jun. 30, 2016	Dec. 31, 2015
Derivatives, Fair Value [Line Items]
Derivative Asset		$ 48	$ 14
Derivative Liability		15	86
Paid to brokers associated with margin requirements		3	10
Trade Accounts Receivable [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset		48	9
Derivative Liability		8	51
Accounts Payable and Accrued Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset		0	5
Derivative Liability		7	35
Commodity Contract [Member] | Derivatives not designated as hedging instruments
Derivatives, Fair Value [Line Items]
Asset position		55	20
Liability position		22	92
Derivative Asset, Fair Value, Gross Liability		7	6
Derivative Liability, Fair Value, Gross Asset		7	6
Derivative Asset		48	14
Derivative Liability		15	86
Commodity Contract [Member] | Copper Derivatives [Member] | Derivatives not designated as hedging instruments
Derivatives, Fair Value [Line Items]
Asset position		6	1
Liability position		4	11
Derivative Asset, Fair Value, Gross Liability		4	1
Derivative Liability, Fair Value, Gross Asset		4	1
Derivative Asset		2	0
Derivative Liability		0	10
Commodity Contract [Member] | Copper futures and swap contracts [Member] | Derivatives not designated as hedging instruments
Derivatives, Fair Value [Line Items]
Asset position	[1]	4	1
Liability position	[1]	3	11
Commodity Contract [Member] | Copper forward contracts [Member] | Derivatives not designated as hedging instruments
Derivatives, Fair Value [Line Items]
Asset position		2	0
Liability position		1	0
Commodity Contract [Member] | Embedded derivatives in provisional sales/purchases contracts [Member] | Derivatives not designated as hedging instruments
Derivatives, Fair Value [Line Items]
Asset position		49	19
Liability position		18	81
Derivative Asset, Fair Value, Gross Liability		3	5
Derivative Liability, Fair Value, Gross Asset		3	5
Derivative Asset		46	14
Derivative Liability		$ 15	$ 76
[1]	FCX paid $3 million to brokers at June 30, 2016, and $10 million at December 31, 2015, for margin requirements (recorded in other current assets).

Financial Instruments (Unaudi41

Financial Instruments (Unaudited) Other Financial Instruments (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2014
Cash and Cash Equivalents [Line Items]
Credit Derivative, Maximum Exposure, Undiscounted	$ 42
Cash and cash equivalents	352	$ 195	$ 318	$ 317
Time Deposits [Member]
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 48	$ 34

Fair Value Measurement (Unaud42

Fair Value Measurement (Unaudited) (Details) - USD ($) $ in Millions		Jun. 30, 2016	Dec. 31, 2015
Derivatives:
Derivative assets		$ 48	$ 14
Derivatives:
Derivative Liability		15	86
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Investment securities (current and long-term):
Investment securities	[1],[2]	26	24
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	12	7
Derivatives:
Derivative assets	[2],[5]	5	1
Total assets		43	32
Derivatives:
Derivative Liability	[2],[5]	2	7
Loss Contingency, Accrual, Noncurrent	[6]	0
Long-term debt, including current portion	[7]	0	0
Total liabilities		2	7
Fair Value, Measurements, Recurring [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]	120	112
Derivatives:
Derivative assets	[2],[5]	50	19
Total assets		170	131
Derivatives:
Derivative Liability	[2],[5]	20	85
Loss Contingency, Accrual, Noncurrent	[6]	25
Long-term debt, including current portion	[7]	17,772	13,987
Total liabilities		17,817	14,072
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]	0	0
Total assets		0	0
Derivatives:
Derivative Liability	[2],[5]	0	0
Loss Contingency, Accrual, Noncurrent	[6]	0
Long-term debt, including current portion	[7]	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]	18	81
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]	1	7
Fair Value, Measurements, Recurring [Member] | Copper futures and swap contracts [Member] | Fair Value, Inputs, Level 2 [Member]
Derivatives:
Derivative Liability	[2],[5]	2	4
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] | Copper Forward Contracts [Member] | Fair Value, Inputs, Level 1 [Member]
Derivatives:
Derivative Liability	[2],[5]	1
Fair Value, Measurements, Recurring [Member] | Copper Forward Contracts [Member] | Fair Value, Inputs, Level 2 [Member]
Derivatives:
Derivative Liability	[2],[5]	0
Fair Value, Measurements, Recurring [Member] | Copper Forward Contracts [Member] | Fair Value, Inputs, Level 3 [Member]
Derivatives:
Derivative Liability	[2],[5]	0
Fair Value, Measurements, Recurring [Member] | Copper Forward Contracts [Member] | Fair Value, Inputs, Level 1 [Member]
Derivatives:
Derivative assets	[2],[5]	1
Fair Value, Measurements, Recurring [Member] | Copper Forward Contracts [Member] | Fair Value, Inputs, Level 2 [Member]
Derivatives:
Derivative assets	[2],[5]	1
Fair Value, Measurements, Recurring [Member] | Copper Forward Contracts [Member] | Fair Value, Inputs, Level 3 [Member]
Derivatives:
Derivative assets	[2],[5]	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		0	0
Legally restricted funds (long-term):
Legally restricted funds		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		0	0
Legally restricted funds (long-term):
Legally restricted funds		0	0
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		0	0
Legally restricted funds (long-term):
Legally restricted funds		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	21
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	12	7
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] | Equity securities [Member] | Fair Value, Inputs, Level 1 [Member]
Investment securities (current and long-term):
Investment securities	[1],[2]	4	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]	38	37
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]	30	28
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]	30	26
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]	15	13
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] | 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]	6	7
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] | 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]	49	19
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] | Copper futures and swap contracts [Member] | Fair Value, Inputs, Level 1 [Member]
Derivatives:
Derivative assets	[2],[5]	4	1
Fair Value, Measurements, Recurring [Member] | Copper futures and swap contracts [Member] | Fair Value, Inputs, Level 2 [Member]
Derivatives:
Derivative assets	[2],[5]	0	0
Fair Value, Measurements, Recurring [Member] | Copper futures and swap contracts [Member] | Fair Value, Inputs, Level 3 [Member]
Derivatives:
Derivative assets	[2],[5]	0	0
Reported Value Measurement [Member] | Fair Value, Measurements, Recurring [Member]
Investment securities (current and long-term):
Investment securities	[1],[2]	50	47
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	187	171
Derivatives:
Derivative assets	[2],[5]	55	20
Derivatives:
Derivative Liability	[2],[5]	22	92
Loss Contingency, Accrual, Noncurrent	[6]	25
Long-term debt, including current portion	[7]	19,319	20,428
Reported Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Embedded derivatives in provisional sales/purchases contracts [Member]
Derivatives:
Derivative Liability	[2],[5]	18	81
Reported Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Copper futures and swap contracts [Member]
Derivatives:
Derivative Liability	[2],[5]	3	11
Reported Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Copper Forward Contracts [Member]
Derivatives:
Derivative Liability	[2],[5]	1
Reported Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Copper Forward Contracts [Member]
Derivatives:
Derivative assets	[2],[5]	2
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]	24	23
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	55	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	21
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	12	7
Reported Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Equity securities [Member]
Investment securities (current and long-term):
Investment securities	[1],[2]	4	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]	38	37
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]	30	28
Reported Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Corporate bonds [Member]
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	30	26
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]	15	13
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]	6	7
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]	49	19
Reported Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Copper futures and swap contracts [Member]
Derivatives:
Derivative assets	[2],[5]	4	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	28
Reported Value Measurement [Member] | Other Assets [Member] | Fair Value, Measurements, Recurring [Member] | Time Deposits [Member]
Derivatives:
Escrow Deposit Disbursements Related to Property Acquisition		120	118
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member]
Investment securities (current and long-term):
Investment securities	[1],[2]	50	47
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	187	171
Derivatives:
Derivative assets	[2],[5]	55	20
Total assets		292	238
Derivatives:
Derivative Liability	[2],[5]	22	92
Loss Contingency, Accrual, Noncurrent	[6]	25
Long-term debt, including current portion	[7]	17,772	13,987
Total liabilities		17,819	14,079
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Embedded derivatives in provisional sales/purchases contracts [Member]
Derivatives:
Derivative Liability	[2],[5]	18	81
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Copper futures and swap contracts [Member]
Derivatives:
Derivative Liability	[2],[5]	3	11
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Copper Forward Contracts [Member]
Derivatives:
Derivative Liability	[2],[5]	1
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Copper Forward Contracts [Member]
Derivatives:
Derivative assets	[2],[5]	2
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]	24	23
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	55	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	21
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	12	7
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Equity securities [Member]
Investment securities (current and long-term):
Investment securities	[1],[2]	4	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]	38	37
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]	30	28
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]	30	26
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]	15	13
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]	6	7
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]	49	19
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Copper futures and swap contracts [Member]
Derivatives:
Derivative assets	[2],[5]	4	1
Net Asset Value [Member] | Fair Value, Measurements, Recurring [Member]
Investment securities (current and long-term):
Investment securities	[1],[2]	24	23
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	55	52
Derivatives:
Derivative assets	[2],[5]	0	0
Total assets		79	75
Derivatives:
Derivative Liability	[2],[5]	0	0
Loss Contingency, Accrual, Noncurrent	[6]	0
Long-term debt, including current portion	[7]	0	0
Total liabilities		0	0
Net Asset Value [Member] | Fair Value, Measurements, Recurring [Member] | Embedded derivatives in provisional sales/purchases contracts [Member]
Derivatives:
Derivative Liability	[2],[5]	0	0
Net Asset Value [Member] | Fair Value, Measurements, Recurring [Member] | Copper futures and swap contracts [Member]
Derivatives:
Derivative Liability	[2],[5]	0	0
Net Asset Value [Member] | Fair Value, Measurements, Recurring [Member] | Copper Forward Contracts [Member]
Derivatives:
Derivative Liability	[2],[5]	0
Net Asset Value [Member] | Fair Value, Measurements, Recurring [Member] | Copper Forward Contracts [Member]
Derivatives:
Derivative assets	[2],[5]	0
Net Asset Value [Member] | Fair Value, Measurements, Recurring [Member] | U.S. core fixed income fund [Member]
Investment securities (current and long-term):
Investment securities	[1],[2]	24	23
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	55	52
Net Asset Value [Member] | Fair Value, Measurements, Recurring [Member] | Money market funds [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
Net Asset Value [Member] | Fair Value, Measurements, Recurring [Member] | Equity securities [Member]
Investment securities (current and long-term):
Investment securities	[1],[2]	0	0
Net Asset Value [Member] | Fair Value, Measurements, Recurring [Member] | Government bonds and notes [Member]
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	0	0
Net Asset Value [Member] | Fair Value, Measurements, Recurring [Member] | Government mortgage-backed securities [Member]
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	0	0
Net Asset Value [Member] | Fair Value, Measurements, Recurring [Member] | Corporate bonds [Member]
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	0	0
Net Asset Value [Member] | Fair Value, Measurements, Recurring [Member] | Asset-backed securities [Member]
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	0	0
Net Asset Value [Member] | Fair Value, Measurements, Recurring [Member] | Collateralized mortgage-backed securities [Member]
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	0	0
Net Asset Value [Member] | Fair Value, Measurements, Recurring [Member] | Municipal bonds [Member]
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3],[4]	0	0
Net Asset Value [Member] | Fair Value, Measurements, Recurring [Member] | Embedded derivatives in provisional sales/purchases contracts [Member]
Derivatives:
Derivative assets	[2],[5]	0	0
Net Asset Value [Member] | Fair Value, Measurements, Recurring [Member] | Copper futures and swap contracts [Member]
Derivatives:
Derivative assets	[2],[5]	$ 0	$ 0
[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 $120 million at June 30, 2016, and $118 million at December 31, 2015, primarily associated with an assurance bond to support PT Freeport Indonesia's (PT-FI) commitment for smelter development in Indonesia.
[4]	Excludes time deposits (which approximated fair value) included in other current assets of $30 million at June 30, 2016, and$28 million at December 31, 2015
[5]	Refer to Note 7 for further discussion and balance sheet classifications.
[6]	Included in other liabilities.
[7]	Recorded at cost except for debt assumed in acquisitions, which were recorded at fair value at the respective acquisition dates.

Contingencies and Commitments43

Contingencies and Commitments (Unaudited) (Details) shares in Millions, IDR in Trillions

Jan. 05, 2016shares

Aug. 04, 2016shares

Jul. 31, 2016USD ($)shares

May 31, 2016

Jun. 30, 2016USD ($)shares

Aug. 08, 2016

Jun. 30, 2016USD ($)

Jun. 30, 2015USD ($)

Jan. 05, 2016shares

Dec. 31, 2015shares

Jun. 30, 2016IDR

May 10, 2016USD ($)

Mar. 31, 2016USD ($)

Dec. 31, 2014USD ($)

Loss Contingencies [Line Items]

Stock Issued During Period, Shares, New Issues | shares

4

17

210

206

Gain (Loss) on Contract Termination

$ (612,000,000)

$ 0

PT Freeport Indonesia [Member]

Loss Contingencies [Line Items]

Assessment By Foreign Government Of Alleged Obligations

$ 220,000,000

220,000,000

Value Added Tax Receivable

$ 269,000,000

Assessment By Foreign Government of Alleged Obligations, Expressed in Foreign Currency | IDR

IDR 2.9

Income Tax Examination, Penalties Accrued

0

0

Subsequent Event [Member]

Loss Contingencies [Line Items]

Stock Issued During Period, Shares, New Issues | shares

8

3

Proceeds from Issuance of Common Stock, Gross

$ 226,000,000

Subsequent Event [Member] | PT Freeport Indonesia [Member]

Loss Contingencies [Line Items]

Expiration Date, Export Permit

Aug. 8, 2016

Royalty Tax [Member] | Cerro Verde [Member]

Loss Contingencies [Line Items]

Loss Contingency, Estimate of Possible Loss

474,000,000

474,000,000

RelatingtotheperiodDecember2006throughSeptember2011 [Member] | Royalty Tax [Member] | Cerro Verde [Member]

Loss Contingencies [Line Items]

Assessment By Foreign Government Of Alleged Obligations

387,000,000

387,000,000

Tax Year 2014 [Member] | PT Freeport Indonesia [Member]

Loss Contingencies [Line Items]

Assessment By Foreign Government Of Alleged Obligations

156,000,000

156,000,000

Tax Overpayment

$ 284,000,000

Proceeds from Income Tax Refunds

128,000,000

Disputed Tax Assessments Receivable

155,000,000

155,000,000

Cash and Cash Equivalents [Member] | PT Freeport Indonesia [Member]

Loss Contingencies [Line Items]

Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority

$ 196,000,000

Other Liabilities [Member] | PT Freeport Indonesia [Member]

Loss Contingencies [Line Items]

Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority

$ 38,000,000

Rowan Companies plc [Member] | Contract Termination [Member]

Loss Contingencies [Line Items]

Cash payments made under settlement agreement

85,000,000

Payable under settlement agreement

130,000,000

130,000,000

Ultra-deepwater Drillship Contracts [Member]

Loss Contingencies [Line Items]

Period, Contingent Consideration

12 months

Unrecorded Unconditional Purchase Obligation, Change of Amount as Result of Variable Components

1,100,000,000

1,100,000,000

Fair Value, Measurements, Recurring [Member] | Reported Value Measurement [Member]

Loss Contingencies [Line Items]

Loss Contingency, Accrual, Noncurrent

[1]

$ 25,000,000

$ 25,000,000

Noble Drilling LLC [Member] | Maximum [Member] | Ultra-deepwater Drillship Contracts [Member]

Loss Contingencies [Line Items]

Contingent Payments, Contract Termination

$ 75,000,000

Rowan Companies plc [Member] | Maximum [Member] | Ultra-deepwater Drillship Contracts [Member]

Loss Contingencies [Line Items]

Contingent Payments, Contract Termination

$ 30,000,000

Ultra-deepwater Drillship Contracts [Member]

Loss Contingencies [Line Items]

Stock Issued During Period, Shares, New Issues | shares

48

Proceeds from Issuance of Common Stock, Gross

$ 540,000,000

[1]

Included in other liabilities.

Business Segments (Unaudited)44

Business Segments (Unaudited) (Details) - USD ($) $ in Millions		May 31, 2016	Jun. 30, 2016		Jun. 30, 2015		Jun. 30, 2016		Jun. 30, 2015		May 30, 2016	Dec. 31, 2015
Revenues:
Unaffiliated customers			$ 3,334		$ 3,938		$ 6,576		$ 7,709
Intersegment			0		0		0		0
Production and delivery			2,956		2,651		5,455		5,330
Depreciation, depletion and amortization			632		833		1,294		1,699
Impairment of oil and gas properties			291		2,686		4,078		5,790
Selling, general and administrative expenses			160		148		298		299
Mining exploration and research expenses			15		30		33		57
Environmental obligations and shutdown costs			11		11		21		24
Net gain on sales of assets			(749)		0		(749)		(39)
Operating income (loss)			18		(2,421)		(3,854)		(5,451)
Interest expense, net			196		142		387		281
Provision for (benefit from) income taxes			116		(699)		193		(1,413)
Total Assets			41,296		54,008		41,296		54,008			$ 46,577
Capital expenditures			833		1,661		1,815		3,528
Restructuring Costs			(37)				39
Disposal Group, Including Discontinued Operation, Assets			4,700		4,900		4,700		4,900
Oil and gas inventory write downs			(2)		(59)		(7)		(63)
Mining Operations [Member]
Revenues:
Unaffiliated customers			2,924	[1]	3,369	[1]	5,871	[2]	6,640	[2]
Intersegment			0	[1]	0	[1]	0	[2]	0	[2]
Production and delivery			2,057	[1]	2,368	[1]	4,146	[2]	4,761	[2]
Depreciation, depletion and amortization			410	[1]	345	[1]	814	[2]	677	[2]
Impairment of oil and gas properties			0	[1]	0	[1]	0	[2]	0	[2]
Selling, general and administrative expenses			32	[1]	37	[1]	57	[2]	75	[2]
Mining exploration and research expenses			15	[1]	30	[1]	33	[2]	57	[2]
Environmental obligations and shutdown costs			10	[1]	11	[1]	20	[2]	24	[2]
Net gain on sales of assets			(749)	[1]			(749)	[2]	(39)	[2]
Operating income (loss)			1,149	[1]	578	[1]	1,550	[2]	1,085	[2]
Interest expense, net			44	[1]	42	[1]	91	[2]	87	[2]
Provision for (benefit from) income taxes			61	[1]	101	[1]	136	[2]	154	[2]
Total Assets	[1]		37,069		38,434		37,069		38,434
Capital expenditures			441	[1]	855	[1]	900	[2]	1,689	[2]
North America Copper Mines [Member]
Revenues:
Unaffiliated customers			122	[1]	272	[1]	340	[2]	493	[2]
Intersegment			938	[1]	1,133	[1]	1,856	[2]	2,247	[2]
Production and delivery			726	[1]	962	[1]	1,514	[2]	1,905	[2]
Depreciation, depletion and amortization			134	[1]	139	[1]	278	[2]	272	[2]
Impairment of oil and gas properties			0	[1]	0	[1]	0	[2]	0	[2]
Selling, general and administrative expenses			2	[1]	2	[1]	3	[2]	3	[2]
Mining exploration and research expenses			0	[1]	2	[1]	1	[2]	5	[2]
Environmental obligations and shutdown costs			0	[1]	0	[1]	0	[2]	0	[2]
Net gain on sales of assets			(577)	[1]			(577)	[2]	(39)	[2]
Operating income (loss)			775	[1]	300	[1]	977	[2]	594	[2]
Interest expense, net			1	[1]	1	[1]	2	[2]	2	[2]
Provision for (benefit from) income taxes			0	[1]	0	[1]	0	[2]	0	[2]
Total Assets	[1]		7,636		9,388		7,636		9,388
Capital expenditures			42	[1]	107	[1]	76	[2]	214	[2]
Morenci [Member]
Revenues:
Unaffiliated customers			79	[1]	180	[1]	241	[2]	286	[2]
Intersegment			404	[1]	427	[1]	761	[2]	877	[2]
Production and delivery			298	[1]	386	[1]	638	[2]	760	[2]
Depreciation, depletion and amortization			57	[1]	55	[1]	119	[2]	106	[2]
Impairment of oil and gas properties			0	[1]	0	[1]	0	[2]	0	[2]
Selling, general and administrative expenses			1	[1]	0	[1]	1	[2]	1	[2]
Mining exploration and research expenses			0	[1]	0	[1]	0	[2]	0	[2]
Environmental obligations and shutdown costs			0	[1]	0	[1]	0	[2]	0	[2]
Net gain on sales of assets			(577)	[1]			(577)	[2]	0	[2]
Operating income (loss)			704	[1]	166	[1]	821	[2]	296	[2]
Interest expense, net			0	[1]	0	[1]	1	[2]	1	[2]
Provision for (benefit from) income taxes			0	[1]	0	[1]	0	[2]	0	[2]
Total Assets	[1]		2,960		3,806		2,960		3,806
Capital expenditures			37	[1]	79	[1]	65	[2]	163	[2]
Other North America Copper Mines [Member]
Revenues:
Unaffiliated customers			43	[1]	92	[1]	99	[2]	207	[2]
Intersegment			534	[1]	706	[1]	1,095	[2]	1,370	[2]
Production and delivery			428	[1]	576	[1],[3]	876	[2]	1,145	[2],[4]
Depreciation, depletion and amortization			77	[1]	84	[1]	159	[2]	166	[2]
Impairment of oil and gas properties			0	[1]	0	[1]	0	[2]	0	[2]
Selling, general and administrative expenses			1	[1]	2	[1]	2	[2]	2	[2]
Mining exploration and research expenses			0	[1]	2	[1]	1	[2]	5	[2]
Environmental obligations and shutdown costs			0	[1]	0	[1]	0	[2]	0	[2]
Net gain on sales of assets			0	[1]			0	[2]	(39)	[2]
Operating income (loss)			71	[1]	134	[1]	156	[2]	298	[2]
Interest expense, net			1	[1]	1	[1]	1	[2]	1	[2]
Provision for (benefit from) income taxes			0	[1]	0	[1]	0	[2]	0	[2]
Total Assets	[1]		4,676		5,582		4,676		5,582
Capital expenditures			5	[1]	28	[1]	11	[2]	51	[2]
Oil and gas inventory write downs					(11)				(11)
South America Mines [Member]
Revenues:
Unaffiliated customers			617	[1]	416	[1]	1,247	[2]	895	[2]
Intersegment			60	[1]	37	[1]	101	[2]	44	[2]
Production and delivery			406	[1]	315	[1]	816	[2]	660	[2]
Depreciation, depletion and amortization			136	[1]	72	[1]	268	[2]	147	[2]
Impairment of oil and gas properties			0	[1]	0	[1]	0	[2]	0	[2]
Selling, general and administrative expenses			2	[1]	1	[1]	4	[2]	2	[2]
Mining exploration and research expenses			0	[1]	0	[1]	0	[2]	0	[2]
Environmental obligations and shutdown costs			0	[1]	0	[1]	0	[2]	0	[2]
Net gain on sales of assets			0	[1]			0	[2]	0	[2]
Operating income (loss)			133	[1]	65	[1]	260	[2]	130	[2]
Interest expense, net			20	[1]	0	[1]	42	[2]	1	[2]
Provision for (benefit from) income taxes			43	[1]	6	[1]	82	[2]	30	[2]
Total Assets	[1]		10,939		10,502		10,939		10,502
Capital expenditures			136	[1]	457	[1]	293	[2]	902	[2]
Cerro Verde [Member]
Revenues:
Unaffiliated customers			494	[1]	195	[1]	980	[2]	443	[2]
Intersegment			60	[1]	37	[1]	101	[2]	51	[2]
Production and delivery			303	[1]	165	[1]	594	[2]	363	[2]
Depreciation, depletion and amortization			109	[1]	40	[1]	210	[2]	77	[2]
Impairment of oil and gas properties			0	[1]	0	[1]	0	[2]	0	[2]
Selling, general and administrative expenses			2	[1]	0	[1]	4	[2]	1	[2]
Mining exploration and research expenses			0	[1]	0	[1]	0	[2]	0	[2]
Environmental obligations and shutdown costs			0	[1]	0	[1]	0	[2]	0	[2]
Net gain on sales of assets			0	[1]			0	[2]	0	[2]
Operating income (loss)			140	[1]	27	[1]	273	[2]	53	[2]
Interest expense, net			20	[1]	0	[1]	42	[2]	1	[2]
Provision for (benefit from) income taxes			45	[1]	(5)	[1]	90	[2]	0	[2]
Total Assets	[1]		9,330		8,567		9,330		8,567
Capital expenditures			135	[1]	444	[1]	291	[2]	875	[2]
Other South America Mines [Member]
Revenues:
Unaffiliated customers			123	[1]	221	[1]	267	[2]	452	[2]
Intersegment			0	[1]	0	[1]	0	[2]	(7)	[2],[5]
Production and delivery			103	[1]	150	[1]	222	[2]	297	[2]
Depreciation, depletion and amortization			27	[1]	32	[1]	58	[2]	70	[2]
Impairment of oil and gas properties			0	[1]	0	[1]	0	[2]	0	[2]
Selling, general and administrative expenses			0	[1]	1	[1]	0	[2]	1	[2]
Mining exploration and research expenses			0	[1]	0	[1]	0	[2]	0	[2]
Environmental obligations and shutdown costs			0	[1]	0	[1]	0	[2]	0	[2]
Net gain on sales of assets			0	[1]			0	[2]	0	[2]
Operating income (loss)			(7)	[1]	38	[1]	(13)	[2]	77	[2]
Interest expense, net			0	[1]	0	[1]	0	[2]	0	[2]
Provision for (benefit from) income taxes			(2)	[1]	11	[1]	(8)	[2]	30	[2]
Total Assets	[1]		1,609		1,935		1,609		1,935
Capital expenditures			1	[1]	13	[1]	2	[2]	27	[2]
Indonesia - Grasberg [Member]
Revenues:
Unaffiliated customers			532	[1],[6]	792	[1],[6]	1,030	[2],[7]	1,413	[2],[7]
Intersegment			(1)	[1],[8]	(2)	[1],[8]	57	[2]	(16)	[2],[5]
Production and delivery			356	[1]	455	[1]	750	[2]	894	[2]
Depreciation, depletion and amortization			93	[1]	78	[1]	174	[2]	148	[2]
Impairment of oil and gas properties			0	[1]	0	[1]	0	[2]	0	[2]
Selling, general and administrative expenses			22	[1]	25	[1]	36	[2]	50	[2]
Mining exploration and research expenses			0	[1]	0	[1]	0	[2]	0	[2]
Environmental obligations and shutdown costs			0	[1]	0	[1]	0	[2]	0	[2]
Net gain on sales of assets			0	[1]			0	[2]	0	[2]
Operating income (loss)			60	[1]	232	[1]	127	[2]	305	[2]
Interest expense, net			0	[1]	0	[1]	0	[2]	0	[2]
Provision for (benefit from) income taxes			18	[1]	95	[1]	54	[2]	124	[2]
Total Assets	[1]		9,550		8,959		9,550		8,959
Capital expenditures			234	[1]	213	[1]	459	[2]	438	[2]
Molybdenum mines [Member]
Revenues:
Unaffiliated customers			0	[1]	0	[1]	0	[2]	0	[2]
Intersegment			45	[1]	102	[1]	90	[2]	215	[2]
Production and delivery			50	[1]	84	[1],[3]	102	[2]	167	[2],[4]
Depreciation, depletion and amortization			17	[1]	25	[1]	36	[2]	51	[2]
Impairment of oil and gas properties			0	[1]	0	[1]	0	[2]	0	[2]
Selling, general and administrative expenses			0	[1]	0	[1]	0	[2]	0	[2]
Mining exploration and research expenses			0	[1]	0	[1]	0	[2]	0	[2]
Environmental obligations and shutdown costs			0	[1]	0	[1]	0	[2]	0	[2]
Net gain on sales of assets			0	[1]			0	[2]	0	[2]
Operating income (loss)			(22)	[1]	(7)	[1]	(48)	[2]	(3)	[2]
Interest expense, net			0	[1]	0	[1]	0	[2]	0	[2]
Provision for (benefit from) income taxes			0	[1]	0	[1]	0	[2]	0	[2]
Total Assets	[1]		1,969		2,052		1,969		2,052
Capital expenditures			0	[1]	4	[1]	1	[2]	7	[2]
Oil and gas inventory write downs					(3)				(3)
Rod & Refining [Member]
Revenues:
Unaffiliated customers			919	[1]	1,089	[1]	1,890	[2]	2,151	[2]
Intersegment			7	[1]	8	[1]	15	[2]	15	[2]
Production and delivery			919	[1]	1,088	[1]	1,889	[2]	2,151	[2]
Depreciation, depletion and amortization			3	[1]	3	[1]	5	[2]	5	[2]
Impairment of oil and gas properties			0	[1]	0	[1]	0	[2]	0	[2]
Selling, general and administrative expenses			0	[1]	0	[1]	0	[2]	0	[2]
Mining exploration and research expenses			0	[1]	0	[1]	0	[2]	0	[2]
Environmental obligations and shutdown costs			0	[1]	0	[1]	0	[2]	0	[2]
Net gain on sales of assets			0	[1]			0	[2]	0	[2]
Operating income (loss)			4	[1]	6	[1]	11	[2]	10	[2]
Interest expense, net			0	[1]	0	[1]	0	[2]	0	[2]
Provision for (benefit from) income taxes			0	[1]	0	[1]	0	[2]	0	[2]
Total Assets	[1]		217		286		217		286
Capital expenditures			0	[1]	0	[1]	1	[2]	1	[2]
Atlantic Copper Smelting & Refining [Member]
Revenues:
Unaffiliated customers			493	[1]	495	[1]	915	[2]	1,035	[2]
Intersegment			2	[1]	5	[1]	3	[2]	11	[2]
Production and delivery			466	[1]	468	[1]	859	[2]	987	[2]
Depreciation, depletion and amortization			7	[1]	9	[1]	15	[2]	19	[2]
Impairment of oil and gas properties			0	[1]	0	[1]	0	[2]	0	[2]
Selling, general and administrative expenses			4	[1]	4	[1]	8	[2]	9	[2]
Mining exploration and research expenses			0	[1]	0	[1]	0	[2]	0	[2]
Environmental obligations and shutdown costs			0	[1]	0	[1]	0	[2]	0	[2]
Net gain on sales of assets			0	[1]			0	[2]	0	[2]
Operating income (loss)			18	[1]	19	[1]	36	[2]	31	[2]
Interest expense, net			4	[1]	2	[1]	8	[2]	5	[2]
Provision for (benefit from) income taxes			0	[1]	0	[1]	0	[2]	0	[2]
Total Assets	[1]		607		786		607		786
Capital expenditures			5	[1]	4	[1]	7	[2]	8	[2]
Other Mining & Eliminations [Member]
Revenues:
Unaffiliated customers			241	[1],[9]	305	[1],[9]	449	[2],[10]	653	[2],[10]
Intersegment			(1,051)	[1]	(1,283)	[1]	(2,122)	[2]	(2,516)	[2]
Production and delivery			(866)	[1]	(1,004)	[1],[3]	(1,784)	[2]	(2,003)	[2],[4]
Depreciation, depletion and amortization			20	[1]	19	[1]	38	[2]	35	[2]
Impairment of oil and gas properties			0	[1]	0	[1]	0	[2]	0	[2]
Selling, general and administrative expenses			2	[1]	5	[1]	6	[2]	11	[2]
Mining exploration and research expenses			15	[1]	28	[1]	32	[2]	52	[2]
Environmental obligations and shutdown costs			10	[1]	11	[1]	20	[2]	24	[2]
Net gain on sales of assets			(172)	[1]			(172)	[2]	0	[2]
Operating income (loss)			181	[1]	(37)	[1]	187	[2]	18	[2]
Interest expense, net			19	[1]	39	[1]	39	[2]	79	[2]
Provision for (benefit from) income taxes			0	[1]	0	[1]	0	[2]	0	[2]
Total Assets	[1],[11]		6,151		6,461		6,151		6,461
Capital expenditures			24	[1],[12]	70	[1],[12]	63	[2],[13]	119	[2],[13]
Oil and gas inventory write downs					(45)				(49)
U.S. Oil & Gas Operations [Member]
Revenues:
Unaffiliated customers			410		569	[14]	705		1,069	[15]
Intersegment			0		0		0		0
Production and delivery			889	[16]	281	[16]	1,296	[17]	564	[17]
Depreciation, depletion and amortization			218		485		473		1,015
Impairment of oil and gas properties			290		2,686		4,061		5,790
Selling, general and administrative expenses			81	[18]	49		130	[19]	103
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)			(1,068)		(2,932)		(5,255)		(6,403)
Interest expense, net			93		41		164		78
Provision for (benefit from) income taxes			0		0		0		0
Total Assets			3,902		15,393		3,902		15,393
Capital expenditures			388	[20]	777	[20]	868	[21]	1,795	[21]
Oil and Gas Drillship settlement/Idle rig costs and inventory write downs			(692)		(22)		(892)		(39)
Corporate, Other & Eliminations [Member]
Revenues:
Unaffiliated customers			0		0		0		0
Intersegment			0		0		0		0
Production and delivery			10		2		13		5
Depreciation, depletion and amortization			4		3		7		7
Impairment of oil and gas properties			1	[22]	0		17	[23]	0
Selling, general and administrative expenses			47		62		111		121
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)			(63)		(67)		(149)		(133)
Interest expense, net			59		59		132		116
Provision for (benefit from) income taxes			55		(800)		57		(1,567)
Total Assets			325		181		325		181
Capital expenditures			$ 4		29		$ 47		44
Crude oil and natural gas swaps [Member]
Revenues:
Net mark-to-market gains on derivative contracts					6				58
Pt Smelting [Member]
Segment Reporting Information [Line Items]
Deferred Intercompany Profit, Percentage							25.00%
Equity Method Investment, Ownership Percentage			25.00%				25.00%
Revenues:
Revenues			$ 287		293		$ 564		643
Morocco | Corporate, Other & Eliminations [Member]
Revenues:
Capital expenditures	[20]		4		29		47		44
Discontinued Operations, Held-for-sale [Member] | Other Mining & Eliminations [Member]
Revenues:
Capital expenditures	[20]		$ 20		$ 58		$ 55		$ 97
Morenci [Member]
Segment Reporting Information [Line Items]
Change in Ownership, Percentage							13.00%
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | Morenci [Member]
Segment Reporting Information [Line Items]
Change in Ownership, Percentage		13.00%
Percentage Of Undivided Interest Owned By Company			72.00%				72.00%				85.00%
[1]	Excludes the results of Tenke, which is reported as discontinued operations (refer to Note 2).
[2]	Excludes the results of Tenke, which is reported as discontinued operations (refer to Note 2).
[3]	Includes inventory adjustments totaling $11 million at other North America copper mines, $3 million at Molybdenum mines and $45 million at Other Mining & Eliminations.
[4]	Includes inventory adjustments totaling $11 million at other North America copper mines, $3 million at Molybdenum mines and $49 million at Other Mining & Eliminations for the first six months of 2015.
[5]	Reflects net reductions for provisional pricing adjustments to prior period open sales. There were no intersegment sales from El Abra or Grasberg for the first six months of 2015.
[6]	Includes PT-FI’s sales to PT Smelting totaling $287 million in second-quarter 2016 and $293 million in second-quarter 2015.
[7]	Includes PT-FI's sales to PT Smelting totaling $564 million for the first six months of 2016 and $643 million for the first six months of 2015.
[8]	Reflects net reductions for provisional pricing adjustments to prior period open sales. There were no intersegment sales from Grasberg in second-quarter 2016 or 2015.
[9]	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.
[10]	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.
[11]	Includes assets held for sale totaling $4.7 billion at June 30, 2016 and $4.9 billion at June 30, 2015, associated with discontinued operations (refer to Note 2).
[12]	Includes capital expenditures of $20 million in second-quarter 2016 and $58 million in second-quarter 2015 associated with discontinued operations.
[13]	Includes capital expenditures of $55 million for the first six months of 2016 and $97 million for the first six months of 2015 associated with discontinued operations.
[14]	Includes net mark-to-market gains of $6 million associated with crude oil derivative contracts.
[15]	Includes net mark-to-market gains of $58 million associated with crude oil derivative contracts.
[16]	Includes charges at oil and gas operations totaling $692 million in second-quarter 2016 and $22 million in second-quarter 2015, primarily associated with drillship settlement/idle rig costs and inventory write-downs.
[17]	Includes charges at oil and gas operations totaling $892 million for the first six months of 2016 and $39 million for the first six months of 2015, primarily associated with drillship settlement/idle rig costs and inventory write downs.
[18]	Includes $37 million for net restructuring charges.
[19]	Includes $39 million for net restructuring charges.
[20]	Excludes international oil and gas capital expenditures totaling $4 million in second-quarter 2016 and $29 million in second-quarter 2015, primarily related to the Morocco oil and gas properties, which are included in Corporate, Other & Eliminations.
[21]	Excludes international oil and gas capital expenditures totaling $47 million for the first six months of 2016 and $44 million for the first six months of 2015, primarily related to the Morocco oil and gas properties, which are included in Corporate, Other & Eliminations.
[22]	Reflects impairment charges for international oil and gas properties primarily in Morocco
[23]	Reflects impairment charges for international oil and gas properties primarily in Morocco.

Guarantor Financial Statement45

Guarantor Financial Statements (Unaudited) (Details)	Mar. 31, 2016
FM O&G LLC Guarantor [Member]
Debt Instrument [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent	100.00%

Guarantor Financial Statement46

Guarantor Financial Statements (Unaudited) Condensed Consolidating Balance Sheets (Details) - USD ($) $ in Millions		Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015
ASSETS
Current Assets, other than assets held for sale		$ 6,034	$ 6,718
Current assets held for sale		4,666	744
Property, plant, equipment and mining development costs, net		23,609	24,248
Oil and gas properties, net - full cost method
Subject to amortization, less accumulated amortization and impairment		1,381	2,262
Not subject to amortization		1,656	4,831
Investments in consolidated subsidiaries		0	0
Other assets		3,950	3,664
Assets held for sale		0	4,110
Total assets		41,296	46,577	$ 54,008
LIABILITIES AND EQUITY
Current Liabilities, other than liabilities held for sale		3,716	4,199
Current liabilities held for sale		824	108
Long-term debt, less current portion		18,549	19,779
Deferred income taxes		3,758	3,607
Environmental and asset retirement obligations, less current portion		3,697	3,717
Investments in consolidated subsidiaries		0	0
Other liabilities		1,662	1,641
Liabilities held for sale		0	718
Total liabilities		32,206	33,769
Redeemable noncontrolling interest		771	764
Equity:
Stockholders' equity		4,003	7,828
Noncontrolling interests		4,316	4,216
Total equity		8,319	12,044
Total liabilities and equity		41,296	46,577
FCX Issuer [Member]
ASSETS
Current Assets, other than assets held for sale		267	181
Current assets held for sale		0	0
Property, plant, equipment and mining development costs, net		23	26
Oil and gas properties, net - full cost method
Subject to amortization, less accumulated amortization and impairment		0	0
Not subject to amortization		0	0
Investments in consolidated subsidiaries		19,759	24,311
Other assets		1,389	5,038
Assets held for sale			0
Total assets		21,438	29,556
LIABILITIES AND EQUITY
Current Liabilities, other than liabilities held for sale		2,811	6,012
Current liabilities held for sale		0	0
Long-term debt, less current portion		13,520	14,735
Deferred income taxes	[1]	1,064	941
Environmental and asset retirement obligations, less current portion		0	0
Investments in consolidated subsidiaries		0	0
Other liabilities		40	40
Liabilities held for sale			0
Total liabilities		17,435	21,728
Redeemable noncontrolling interest		0	0
Equity:
Stockholders' equity		4,003	7,828
Noncontrolling interests		0	0
Total equity		4,003	7,828
Total liabilities and equity		21,438	29,556
FM O&G LLC Guarantor [Member]
ASSETS
Current Assets, other than assets held for sale		2,792	3,831
Current assets held for sale		0	0
Property, plant, equipment and mining development costs, net		57	57
Oil and gas properties, net - full cost method
Subject to amortization, less accumulated amortization and impairment		356	710
Not subject to amortization		408	1,393
Investments in consolidated subsidiaries		0	0
Other assets		42	1,826
Assets held for sale			0
Total assets		3,655	7,817
LIABILITIES AND EQUITY
Current Liabilities, other than liabilities held for sale		534	666
Current liabilities held for sale		0	0
Long-term debt, less current portion		7,425	5,883
Deferred income taxes		0	0
Environmental and asset retirement obligations, less current portion		313	305
Investments in consolidated subsidiaries		649	0
Other liabilities		3,381	3,360
Liabilities held for sale			0
Total liabilities		12,302	10,214
Redeemable noncontrolling interest		0	0
Equity:
Stockholders' equity		(8,647)	(2,397)
Noncontrolling interests		0	0
Total equity		(8,647)	(2,397)
Total liabilities and equity		3,655	7,817
Non-Guarantor Subsidiaries [Member]
ASSETS
Current Assets, other than assets held for sale		6,902	10,238
Current assets held for sale		4,666	744
Property, plant, equipment and mining development costs, net		23,529	24,165
Oil and gas properties, net - full cost method
Subject to amortization, less accumulated amortization and impairment		1,025	1,552
Not subject to amortization		1,246	3,432
Investments in consolidated subsidiaries		0	0
Other assets		3,866	3,598
Assets held for sale			4,110
Total assets		41,234	47,839
LIABILITIES AND EQUITY
Current Liabilities, other than liabilities held for sale		4,288	5,047
Current liabilities held for sale		824	108
Long-term debt, less current portion		12,064	11,594
Deferred income taxes		2,694	2,666
Environmental and asset retirement obligations, less current portion		3,384	3,412
Investments in consolidated subsidiaries		8,647	2,397
Other liabilities		1,730	1,732
Liabilities held for sale			718
Total liabilities		33,631	27,674
Redeemable noncontrolling interest		771	764
Equity:
Stockholders' equity		3,067	15,725
Noncontrolling interests		3,765	3,676
Total equity		6,832	19,401
Total liabilities and equity		41,234	47,839
Consolidation, Eliminations [Member]
ASSETS
Current Assets, other than assets held for sale		(3,927)	(7,532)
Current assets held for sale		0	0
Property, plant, equipment and mining development costs, net		0	0
Oil and gas properties, net - full cost method
Subject to amortization, less accumulated amortization and impairment		0	0
Not subject to amortization		2	6
Investments in consolidated subsidiaries		(19,759)	(24,311)
Other assets		(1,347)	(6,798)
Assets held for sale			0
Total assets		(25,031)	(38,635)
LIABILITIES AND EQUITY
Current Liabilities, other than liabilities held for sale		(3,917)	(7,526)
Current liabilities held for sale		0	0
Long-term debt, less current portion		(14,460)	(12,433)
Deferred income taxes		0	0
Environmental and asset retirement obligations, less current portion		0	0
Investments in consolidated subsidiaries		(9,296)	(2,397)
Other liabilities		(3,489)	(3,491)
Liabilities held for sale			0
Total liabilities		(31,162)	(25,847)
Redeemable noncontrolling interest		0	0
Equity:
Stockholders' equity		5,580	(13,328)
Noncontrolling interests		551	540
Total equity		6,131	(12,788)
Total liabilities and equity		$ (25,031)	$ (38,635)
[1]	All U.S. related deferred income taxes are recorded at the parent company.

Guarantor Financial Statement47

Guarantor Financial Statements (Unaudited) Condensed Consolidating Statements of Income (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2016		Jun. 30, 2015		Jun. 30, 2016		Jun. 30, 2015
Revenues	$ 3,334		$ 3,938		$ 6,576		$ 7,709
Total costs and expenses	3,316		6,359		10,430		13,160
Operating (loss) income	18		(2,421)		(3,854)		(5,451)
Interest expense, net	(196)		(142)		(387)		(281)
Other income (expense), net	64		36		100		43
Loss before income taxes and equity in affiliated companies' net earnings	(114)		(2,527)		(4,141)		(5,689)
(Provision for) benefit from income taxes	(116)		699		(193)		1,413
Equity in affiliated companies' net (losses) earnings	1		0		8		1
Net loss from continuing operations	(229)		(1,828)		(4,326)		(4,275)
Net (loss) income from discontinued operations	(181)		29		(185)		70
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	(410)		(1,799)		(4,511)		(4,205)
Income (Loss) From Continuing Operations Attributable to Noncontrolling Entity and Preferred Dividends	(57)		(26)		(130)		(68)
Net income from discontinued operations attributable to noncontrolling interests	(12)		(26)		(22)		(52)
Net loss attributable to common stockholders	(479)		(1,851)		(4,663)		(4,325)
Other comprehensive income (loss)	15		9		15		21
Total comprehensive (loss) income	(464)		(1,842)		(4,648)		(4,304)
Impairment of oil and gas properties	291		2,686		4,078		5,790
FCX Issuer [Member]
Revenues	0		0		0		0
Total costs and expenses	17		19		44		35
Operating (loss) income	(17)		(19)		(44)		(35)
Interest expense, net	(141)		(121)		(278)		(236)
Other income (expense), net	107		127		157		156
Loss before income taxes and equity in affiliated companies' net earnings	(51)		(13)		(165)		(115)
(Provision for) benefit from income taxes	(345)		(265)		(2,128)		(686)
Equity in affiliated companies' net (losses) earnings	(90)		(1,573)		(2,376)		(3,524)
Net loss from continuing operations	(486)		(1,851)		(4,669)		(4,325)
Net (loss) income from discontinued operations	5		0		5		0
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	(481)		(1,851)		(4,664)		(4,325)
Income (Loss) From Continuing Operations Attributable to Noncontrolling Entity and Preferred Dividends	0		0		0		0
Net income from discontinued operations attributable to noncontrolling interests	0		0		0		0
Net loss attributable to common stockholders	(481)		(1,851)		(4,664)		(4,325)
Other comprehensive income (loss)	15		9		15		21
Total comprehensive (loss) income	(466)		(1,842)		(4,649)		(4,304)
Impairment of oil and gas properties					0		0
FM O&G LLC Guarantor [Member]
Revenues	106		169		184		350
Total costs and expenses	964	[1]	1,217	[2]	2,593	[3]	2,535	[4]
Operating (loss) income	(858)		(1,048)		(2,409)		(2,185)
Interest expense, net	(15)		(2)		(19)		(6)
Other income (expense), net	0		0		0		0
Loss before income taxes and equity in affiliated companies' net earnings	(873)		(1,050)		(2,428)		(2,191)
(Provision for) benefit from income taxes	306		374		922		790
Equity in affiliated companies' net (losses) earnings	(280)		(1,920)		(2,984)		(4,279)
Net loss from continuing operations	(847)		(2,596)		(4,490)		(5,680)
Net (loss) income from discontinued operations	0		0		0		0
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	(847)		(2,596)		(4,490)		(5,680)
Income (Loss) From Continuing Operations Attributable to Noncontrolling Entity and Preferred Dividends	0		0		0		0
Net income from discontinued operations attributable to noncontrolling interests	0		0		0		0
Net loss attributable to common stockholders	(847)		(2,596)		(4,490)		(5,680)
Other comprehensive income (loss)	0		0		0		0
Total comprehensive (loss) income	(847)		(2,596)		(4,490)		(5,680)
Impairment of oil and gas properties	200		1,000		1,436		2,052
Impairment of Oil and Gas Properties rounded					1,500
Non-Guarantor Subsidiaries [Member]
Revenues	3,228		3,769		6,392		7,359
Total costs and expenses	2,335	[1]	5,120	[2]	7,787	[3]	10,603	[4]
Operating (loss) income	893		(1,351)		(1,395)		(3,244)
Interest expense, net	(124)		(53)		(238)		(96)
Other income (expense), net	28		(57)		68		(49)
Loss before income taxes and equity in affiliated companies' net earnings	797		(1,461)		(1,565)		(3,389)
(Provision for) benefit from income taxes	(69)		592		1,019		1,317
Equity in affiliated companies' net (losses) earnings	(853)		(2,972)		(4,483)		(6,502)
Net loss from continuing operations	(125)		(3,841)		(5,029)		(8,574)
Net (loss) income from discontinued operations	(175)		22		(169)		56
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	(300)		(3,819)		(5,198)		(8,518)
Income (Loss) From Continuing Operations Attributable to Noncontrolling Entity and Preferred Dividends	(50)		(12)		(117)		(42)
Net income from discontinued operations attributable to noncontrolling interests	(12)		(26)		(22)		(52)
Net loss attributable to common stockholders	(362)		(3,857)		(5,337)		(8,612)
Other comprehensive income (loss)	15		9		15		21
Total comprehensive (loss) income	(347)		(3,848)		(5,322)		(8,591)
Impairment of oil and gas properties	100		1,700		2,622		3,717
Consolidation, Eliminations [Member]
Revenues	0		0		0		0
Total costs and expenses	0		3		6		(13)
Operating (loss) income	0		(3)		(6)		13
Interest expense, net	84		34		148		57
Other income (expense), net	(71)		(34)		(125)		(64)
Loss before income taxes and equity in affiliated companies' net earnings	13		(3)		17		6
(Provision for) benefit from income taxes	(8)		(2)		(6)		(8)
Equity in affiliated companies' net (losses) earnings	1,224		6,465		9,851		14,306
Net loss from continuing operations	1,229		6,460		9,862		14,304
Net (loss) income from discontinued operations	(11)		7		(21)		14
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	1,218		6,467		9,841		14,318
Income (Loss) From Continuing Operations Attributable to Noncontrolling Entity and Preferred Dividends	(7)		(14)		(13)		(26)
Net income from discontinued operations attributable to noncontrolling interests	0		0		0		0
Net loss attributable to common stockholders	1,211		6,453		9,828		14,292
Other comprehensive income (loss)	(15)		(9)		(15)		(21)
Total comprehensive (loss) income	$ 1,196		$ 6,444		9,813		14,271
Impairment of oil and gas properties					$ 20		$ 21
[1]	Includes charges totaling $0.2 billion at the FM O&G LLC guarantor and $0.1 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 $1.0 billion at the FM O&G LLC guarantor and $1.7 billion at the non-guarantor subsidiaries related to impairment of FCX's oil and gas properties pursuant to full cost accounting rules.
[3]	Includes charges totaling $1.5 billion at the FM O&G LLC guarantor and $2.6 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 $2.1 billion at the FM O&G LLC guarantor and $3.7 billion at the non-guarantor subsidiaries related to impairment of FCX's oil and gas properties pursuant to full cost accounting rules.

Guarantor Financial Statement48

Guarantor Financial Statements (Unaudited) Condensed Consolidating Statements of Cash Flows (Details) - USD ($) $ in Millions	Jan. 05, 2016	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest		$ (410)	$ (1,799)	$ (4,511)	$ (4,205)
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation, Depletion and Amortization				1,374	1,829
Impairment of oil and gas properties		291	2,686	4,078	5,790
Net gains on crude oil derivative contracts				0	(58)
Equity in losses (earnings) of consolidated subsidiaries				(8)	(1)
Other, net				215	(1,379)
Changes in working capital and other tax payments, excluding amounts from dispositions				466	(190)
Net cash provided by operating activities				1,614	1,786
Cash flow from investing activities:
Capital expenditures		(833)	(1,661)	(1,815)	(3,528)
Intercompany loans				0	0
Dividends from (investments in) consolidated subsidiaries				0	0
Asset sales and other, net				1,280	136
Net cash provided by (used in) investing activities				(535)	(3,392)
Cash flow from financing activities:
Proceeds from debt				2,811	4,422
Repayments of debt				(3,649)	(2,360)
Intercompany loans				0	0
Net proceeds from sale of common stock	$ 1,970			32	0
Cash dividends and distributions paid, and contributions received, net				(44)	(440)
Other, net				(23)	(14)
Net cash (used in) provided by financing activities				(873)	1,608
Net increase in cash and cash equivalents				206	2
Increase in cash and cash equivalents in assets held for sale				(49)	(1)
Cash and cash equivalents at beginning of year	195			195	317
Cash and cash equivalents at end of period		352	318	352	318
FCX Issuer [Member]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest		(481)	(1,851)	(4,664)	(4,325)
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation, Depletion and Amortization				3	2
Impairment of oil and gas properties				0	0
Net gains on crude oil derivative contracts					0
Equity in losses (earnings) of consolidated subsidiaries				2,375	3,524
Other, net				104	(1,431)
Changes in working capital and other tax payments, excluding amounts from dispositions				2,009	2,222
Net cash provided by operating activities				(173)	(8)
Cash flow from investing activities:
Capital expenditures				0	0
Intercompany loans				(994)	(1,073)
Dividends from (investments in) consolidated subsidiaries				1,935	438
Asset sales and other, net				0	(10)
Net cash provided by (used in) investing activities				941	(645)
Cash flow from financing activities:
Proceeds from debt				1,505	2,735
Repayments of debt				(2,282)	(1,690)
Intercompany loans				0	0
Net proceeds from sale of common stock				32
Cash dividends and distributions paid, and contributions received, net				(5)	(380)
Other, net				(18)	(12)
Net cash (used in) provided by financing activities				(768)	653
Net increase in cash and cash equivalents				0	0
Increase in cash and cash equivalents in assets held for sale				0	0
Cash and cash equivalents at beginning of year	0			0	0
Cash and cash equivalents at end of period		0	0	0	0
FM O&G LLC Guarantor [Member]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest		(847)	(2,596)	(4,490)	(5,680)
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation, Depletion and Amortization				92	223
Impairment of oil and gas properties		200	1,000	1,436	2,052
Net gains on crude oil derivative contracts					(58)
Equity in losses (earnings) of consolidated subsidiaries				2,985	4,279
Other, net				600	9
Changes in working capital and other tax payments, excluding amounts from dispositions				(713)	(550)
Net cash provided by operating activities				(90)	275
Cash flow from investing activities:
Capital expenditures				(433)	(734)
Intercompany loans				(493)	(794)
Dividends from (investments in) consolidated subsidiaries				(41)	(31)
Asset sales and other, net				91	(1)
Net cash provided by (used in) investing activities				(876)	(1,560)
Cash flow from financing activities:
Proceeds from debt				0	0
Repayments of debt				0	0
Intercompany loans				1,018	1,321
Net proceeds from sale of common stock				0
Cash dividends and distributions paid, and contributions received, net				0	0
Other, net				(52)	(37)
Net cash (used in) provided by financing activities				966	1,284
Net increase in cash and cash equivalents				0	(1)
Increase in cash and cash equivalents in assets held for sale				0	0
Cash and cash equivalents at beginning of year	0			0	1
Cash and cash equivalents at end of period		0	0	0	0
Non-Guarantor Subsidiaries [Member]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest		(300)	(3,819)	(5,198)	(8,518)
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation, Depletion and Amortization				1,293	1,638
Impairment of oil and gas properties		100	1,700	2,622	3,717
Net gains on crude oil derivative contracts					0
Equity in losses (earnings) of consolidated subsidiaries				4,483	6,502
Other, net				(489)	43
Changes in working capital and other tax payments, excluding amounts from dispositions				(836)	(1,870)
Net cash provided by operating activities				1,875	1,512
Cash flow from investing activities:
Capital expenditures				(1,380)	(2,787)
Intercompany loans				0	0
Dividends from (investments in) consolidated subsidiaries				78	74
Asset sales and other, net				1,189	137
Net cash provided by (used in) investing activities				(113)	(2,576)
Cash flow from financing activities:
Proceeds from debt				1,306	1,687
Repayments of debt				(1,367)	(670)
Intercompany loans				469	546
Net proceeds from sale of common stock				42
Cash dividends and distributions paid, and contributions received, net				(1,989)	(481)
Other, net				(17)	(15)
Net cash (used in) provided by financing activities				(1,556)	1,067
Net increase in cash and cash equivalents				206	3
Increase in cash and cash equivalents in assets held for sale				(49)	(1)
Cash and cash equivalents at beginning of year	195			195	316
Cash and cash equivalents at end of period		352	318	352	318
Consolidation, Eliminations [Member]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest		1,218	6,467	9,841	14,318
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation, Depletion and Amortization				(14)	(34)
Impairment of oil and gas properties				20	21
Net gains on crude oil derivative contracts					0
Equity in losses (earnings) of consolidated subsidiaries				(9,851)	(14,306)
Other, net				0	0
Changes in working capital and other tax payments, excluding amounts from dispositions				6	8
Net cash provided by operating activities				2	7
Cash flow from investing activities:
Capital expenditures				(2)	(7)
Intercompany loans				1,487	1,867
Dividends from (investments in) consolidated subsidiaries				(1,972)	(481)
Asset sales and other, net				0	10
Net cash provided by (used in) investing activities				(487)	1,389
Cash flow from financing activities:
Proceeds from debt				0	0
Repayments of debt				0	0
Intercompany loans				(1,487)	(1,867)
Net proceeds from sale of common stock				(42)
Cash dividends and distributions paid, and contributions received, net				1,950	421
Other, net				64	50
Net cash (used in) provided by financing activities				485	(1,396)
Net increase in cash and cash equivalents				0	0
Increase in cash and cash equivalents in assets held for sale				0	0
Cash and cash equivalents at beginning of year	$ 0			0	0
Cash and cash equivalents at end of period		$ 0	$ 0	$ 0	$ 0

Subsequent Events (Unaudited) (

Subsequent Events (Unaudited) (Details) - USD ($) shares in Millions

Aug. 04, 2016

Jul. 29, 2016

Jan. 05, 2016

Aug. 04, 2016

Jul. 31, 2016

Sep. 30, 2016

Jun. 30, 2016

Dec. 31, 2016

Jun. 30, 2016

Jun. 30, 2015

Jan. 05, 2016

Dec. 31, 2015

Subsequent Event [Line Items]

Proceeds from Issuance of Common Stock

$ 1,970,000,000

$ 32,000,000

$ 0

Stock Issued During Period, Shares, New Issues

4

17

210

206

Fees and Commissions

$ 20,000,000

Subsequent Event [Member]

Subsequent Event [Line Items]

Proceeds from Issuance of Common Stock, Gross

$ 226,000,000

Subsequent Event, Date

Jul. 27, 2016

Stock Issued During Period, Shares, New Issues

8

3

Common Stock, Value of Shares Authorized for Issue in Transaction

$ 12,000,000

Common Stock [Member]

Subsequent Event [Line Items]

Proceeds from Issuance of Common Stock, Gross

$ 32,000,000

$ 2,000,000,000

Stock Issued During Period, Shares, New Issues

70

Common Stock [Member] | Subsequent Event [Member]

Subsequent Event [Line Items]

Proceeds from Issuance of Common Stock, Gross

$ 167,000,000

$ 85,000,000

Proceeds from Issuance of Common Stock

166,000,000

Common Stock, Value of Shares Authorized for Issue in Transaction

12.69

Fees and Commissions

$ 1,000,000

Common Stock [Member] | Maximum [Member] | Subsequent Event [Member]

Subsequent Event [Line Items]

Proceeds from Issuance of Common Stock, Gross

$ 1,500,000,000

Stock Issued During Period, Shares, New Issues

13