Freeport-McMoRan (FCX) 10-Q 9 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - USD ($) $ in Billions	9 Months Ended
	Sep. 30, 2016	Oct. 31, 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		1,361,688,305
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions		Sep. 30, 2016		Dec. 31, 2015
Current assets:
Cash and cash equivalents		$ 1,108		$ 195
Trade accounts receivable		788		660
Income and other tax receivables		865		1,341
Other accounts receivable		97		154
Inventories:
Materials and supplies, net	[1]	1,348		1,594
Mill and leach stockpiles		1,312		1,539
Product		1,025		1,071
Other current assets		299		164
Assets held for sale		4,663		744
Total current assets		11,505		7,462
Property, plant, equipment and mining development costs, net		23,415		24,246
Oil and gas properties, net - full cost method
Subject to amortization, less accumulated amortization and impairment		979		2,262
Not subject to amortization		1,644		4,831
Long-term mill and leach stockpiles		1,723		1,663
Other assets		2,134		1,989
Assets held for sale		0		4,124
Total assets		41,400	[2]	46,577
Current liabilities:
Accounts payable and accrued liabilities		2,347		3,255
Current portion of debt		802		649
Current portion of environmental and asset retirement obligations		357		272
Accrued income taxes		161		23
Liabilities held for sale		821		108
Total current liabilities		4,488		4,307
Long-term debt, less current portion		18,180		19,779
Deferred income taxes		3,549		3,607
Environmental and asset retirement obligations, less current portion		3,725		3,717
Other liabilities		1,618		1,641
Liabilities held for sale		0		718
Total liabilities		31,560		33,769
Redeemable noncontrolling interest		774		764
Stockholders’ equity:
Common stock		149		137
Capital in excess of par value		25,601		24,283
Accumulated deficit		(16,832)		(12,387)
Accumulated other comprehensive loss		(476)		(503)
Common stock held in treasury		(3,710)		(3,702)
Total stockholders’ equity		4,732		7,828
Noncontrolling interests		4,334		4,216
Total equity		9,066		12,044
Total liabilities and equity		$ 41,400		$ 46,577
[1]	Materials and supplies inventory was net of obsolescence reserves totaling $31 million at September 30, 2016, and $26 million at December 31, 2015.
[2]	Includes (i) assets held for sale totaling $4.7 billion at September 30, 2016, and $4.9 billion at September 30, 2015, and (ii) capital expenditures totaling $15 million in third-quarter 2016 and $69 million in third-quarter 2015 associated with discontinued operations. Refer to Note 2 for a summary of the results of discontinued operations.

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenues	$ 3,877	$ 3,382	$ 10,453	$ 11,091
Cost of sales:
Production and delivery	2,509	2,595	7,957	7,862
Depreciation, depletion and amortization	643	823	1,937	2,522
Impairment of oil and gas properties	239	3,652	4,317	9,442
Metals inventory adjustments	20	91	27	154
Total cost of sales	3,411	7,161	14,238	19,980
Selling, general and administrative expenses	110	122	408	421
Mining exploration and research expenses	13	26	46	83
Environmental obligations and shutdown (credits) costs	(3)	37	18	61
Net gain on sales of assets	(13)	0	(762)	(39)
Total costs and expenses	3,518	7,346	13,948	20,506
Operating income (loss)	359	(3,964)	(3,495)	(9,415)
Interest expense, net	(187)	(157)	(574)	(438)
Net gain on early extinguishment of debt	15	0	51	0
Other (expense) income, net	(10)	(41)	54	2
Income (loss) before income taxes and equity in affiliated companies' net earnings (losses)	177	(4,162)	(3,964)	(9,851)
Benefit from (provision for) income taxes	114	349	(79)	1,762
Equity in affiliated companies’ net earnings (losses)	1	(2)	9	(1)
Net income (loss) from continuing operations	292	(3,815)	(4,034)	(8,090)
Net (loss) income from discontinued operations	(6)	25	(191)	95
Net income (loss)	286	(3,790)	(4,225)	(7,995)
Net income attributable to noncontrolling interests:
Continuing operations	(37)	(13)	(146)	(61)
Discontinued operations	(22)	(16)	(44)	(68)
Preferred dividends attributable to redeemable noncontrolling interest	(10)	(11)	(31)	(31)
Net income (loss) attributable to common stockholders	$ 217	$ (3,830)	$ (4,446)	$ (8,155)
Basic and diluted net income (loss) per share attributable to common stockholders:
Continuing operations	$ 0.18	$ (3.59)	$ (3.27)	$ (7.80)
Discontinued operations	(0.02)	0.01	(0.18)	0.03
Basic and diluted net income (loss) per share attributable to common stockholders:	$ 0.16	$ (3.58)	$ (3.45)	$ (7.77)
Basic	1,346	1,071	1,289	1,050
Diluted	1,351	1,071	1,289	1,050
Dividends declared per share of common stock	$ 0	$ 0.05	$ 0	$ 0.2605

Consolidated Statements of Comp

Consolidated Statements of Comprehensive (Loss) Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Net income (loss)	$ 286	$ (3,790)	$ (4,225)	$ (7,995)
Other comprehensive income, net of taxes:
Unrealized gains on securities	2	0	3	0
Defined benefit plans:
Amortization of unrecognized amounts included in net periodic benefit costs	11	8	34	24
Foreign exchange (losses) gains	(1)	7	(11)	12
Other comprehensive income	12	15	26	36
Total comprehensive income (loss)	298	(3,775)	(4,199)	(7,959)
Total comprehensive income attributable to noncontrolling interests	(59)	(30)	(189)	(130)
Preferred dividends attributable to redeemable noncontrolling interest	(10)	(11)	(31)	(31)
Total comprehensive income (loss) attributable to common stockholders	$ 229	$ (3,816)	$ (4,419)	$ (8,120)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flow from operating activities:
Net loss	$ (4,225)	$ (7,995)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, depletion and amortization	2,017	2,717
Impairment of oil and gas properties	4,317	9,442
Non-cash oil and gas drillship settlements	606	0
Other asset impairments, inventory adjustments, restructuring and other	119	104
Metals inventory adjustments	27	154
Net gain on sales of assets	(762)	(39)
Net charges for environmental and asset retirement obligations, including accretion	149	174
Payments for environmental and asset retirement obligations	(190)	(135)
Net gain on early extinguishment of debt	(51)	0
Deferred income taxes	(22)	(1,926)
Estimated loss on disposal of discontinued operations	182	0
Increase in long-term mill and leach stockpiles	(84)	(183)
Net gains on crude oil derivative contracts	0	(87)
Other, net	48	40
Changes in working capital and other tax payments, excluding amounts from dispositions:
Accounts receivable	257	990
Inventories	251	83
Other current assets	(120)	(13)
Accounts payable and accrued liabilities	(80)	(150)
Accrued income taxes and changes in other tax payments	155	(568)
Net cash provided by operating activities	2,594	2,608
Capital expenditures:
North America copper mines	(87)	(308)
South America	(332)	(1,339)
Indonesia	(715)	(660)
Molybdenum mines	(2)	(10)
United States oil and gas operations	(1,028)	(2,430)
Other	(145)	(308)
Net proceeds from sale of additional interest in Morenci	996	0
Net proceeds from sales of other assets	410	151
Other, net	9	(37)
Net cash used in investing activities	(894)	(4,941)
Cash flow from financing activities:
Proceeds from debt	3,463	6,552
Repayments of debt	(4,539)	(4,693)
Net proceeds from sale of common stock	442	999
Cash dividends and distributions paid:
Common stock	(5)	(547)
Noncontrolling interests	(87)	(89)
Stock-based awards net payments, including excess tax benefit	(5)	(8)
Debt financing costs and other, net	(17)	(7)
Net cash (used in) provided by financing activities	(748)	2,207
Net increase (decrease) in cash and cash equivalents	952	(126)
(Increase) decrease in cash and cash equivalents in assets held for sale	(39)	42
Cash and cash equivalents at beginning of year	195	317
Cash and cash equivalents at end of period	$ 1,108	$ 233

Consolidated Statement of Equit

Consolidated Statement of Equity (Unaudited) - 9 months ended Sep. 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	1,294	1,294	$ 12	1,285	0	0	$ (3)	0
Issuance of common stock (in shares)			114				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	37	37	$ 0	37	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	(66)	0	0	0	0	0	0	(66)
Changes in noncontrolling interests	(5)	0	0	0	0	0	0	(5)
Net loss attributable to common stockholders	(4,446)	(4,446)	0	0		0	0	0
Net income attributable to noncontrolling interests, including discontinued operations	190	0	0	0	0	0	0	190
Other comprehensive income (loss)	26	27	0	0	0	27	0	(1)
Balance at Sep. 30, 2016	$ 9,066	$ 4,732	$ 149	$ 25,601	$ (16,832)	$ (476)	$ (3,710)	$ 4,334
Balance (in shares) at Sep. 30, 2016			1,491				129

General Information (Unaudited)

General Information (Unaudited)	9 Months Ended
	Sep. 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, as recast in the Form 8-K filed on November 9, 2016 , for the presentation of TF Holdings Limited (TFHL) as discontinued operations. 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 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 nine -month period ended September 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 then-current limitations and cost of capital available for future drilling, FCX Oil & Gas LLC (FM O&G, a wholly owned subsidiary of FCX formerly known as FCX Oil & Gas Inc.) determined in first-quarter 2016 that the carrying values of certain of its unevaluated properties were impaired. For the first nine 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 and reserve revisions, net capitalized costs exceeded the related ceiling test limitation under full cost accounting rules, which resulted in the recognition of a $239 million impairment charge in third-quarter 2016 and $4.3 billion for the first nine months of 2016 . The twelve-month average price (using WTI as the reference oil price) was $41.68 per barrel at September 30, 2016 , compared with $43.12 per barrel at June 30, 2016.

Dispositions

Dispositions	9 Months Ended
	Sep. 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, sold 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 are recorded for the contingent consideration as of September 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 sold 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 $576 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 sold 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 sold its Haynesville shale assets for cash consideration of $87 million , before closing adjustments. Under the full cost accounting rules, the proceeds from these transactions were recorded as a reduction of capitalized oil and gas properties, with no gain or loss recognition. On September 12, 2016 , FM O&G entered into an agreement to sell its Deepwater Gulf of Mexico (GOM) properties to Anadarko Petroleum Corporation (Anadarko) for cash consideration of $2.0 billion (before closing adjustments) and up to $150 million in contingent payments. The contingent payments would be received over time as Anadarko realizes future cash flows in connection with FM O&G’s third-party production handling agreement for the Marlin platform. Anadarko will assume future abandonment obligations associated with these properties. The transaction has an effective date of August 1, 2016 , and is expected to close in fourth-quarter 2016 , subject to customary closing conditions. Under the full cost accounting rules, this transaction will require gain (loss) recognition because of its significance to the full cost pool, but the amount is not expected to be material. In accordance with the mandatory prepayment provisions of FCX's Term Loan, one half of the proceeds from this transaction must be applied toward repaying FCX's Term Loan. In connection with the sale of the Deepwater GOM properties, FM O&G entered into an agreement to amend the terms of the Plains Offshore Operations Inc. (Plains Offshore, a subsidiary of FM O&G) preferred stock that is reported as redeemable noncontrolling interest on FCX's consolidated balance sheets. The amendment provides FM O&G the right to call these securities any time between September 12, 2016, and January 10, 2017, for $582 million . FM O&G expects to exercise this option at the time the Deepwater GOM sale closes. If the option is not exercised, the terms will revert to the original purchase agreement as discussed in Note 2 of FCX's annual report on Form 10-K for the year ended December 31, 2015, as recast in the Form 8-K filed on November 9, 2016 . No other terms of the Plains Offshore preferred stock were changed by this amendment. On October 14, 2016 , FM O&G entered into an agreement to sell its onshore California oil and gas properties to Sentinel Peak Resources California LLC (Sentinel) for cash consideration of $592 million (before closing adjustments) and contingent consideration of up to $150 million , consisting of $50 million per year for 2018, 2019 and 2020 if the price of Brent crude oil averages $70 per barrel or higher in each of these calendar years. Sentinel will assume future abandonment obligations associated with the properties. The transaction has an effective date of July 1, 2016, and is expected to close in fourth-quarter 2016, subject to customary closing conditions. Under the full cost accounting rules, this transaction will require gain (loss) recognition because of its significance to the full cost pool, but the amount is not expected to be material. In accordance with the mandatory prepayment provisions of FCX's Term Loan, one half of the proceeds from this transaction must be applied toward repaying FCX's Term Loan. As part of the terms to sell the onshore California oil and gas properties, FM O&G entered into derivative contracts during October 2016 for a portion of the projected sales of oil from the properties and projected purchases of natural gas. Sentinel will assume these contracts upon completion of the sale. These derivative contracts consist of crude oil swaps and costless collars, and natural gas swaps, none of which were designated as hedges for accounting purposes. The derivatives will be recorded at fair value with the mark-to-market gains and losses recorded in revenues (oil contracts) and production costs (natural gas contracts). As of October 31, 2016, FM O&G had hedged (i) approximately 72 percent of its forecasted crude oil sales through 2020 with fixed-rate swaps for 19.4 million barrels from November 2016 through December 2020 at a price of $56.04 per barrel and costless collars for 5.2 million barrels from January 2018 through December 2020 at a put price of $50.00 per barrel and a call price of $63.69 per barrel, and (ii) approximately 48 percent of its forecasted natural gas purchases through 2020 with fixed-rate swaps for 28.9 million British thermal units (MMBtu) from November 2016 through December 2020 at a price of $3.1445 per MMBtu related to its onshore California properties that are being sold to Sentinel. 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 September 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 closing of the transaction is currently subject to customary closing conditions, including the resolution of the right of first offer (which expires on November 15, 2016 ) of Lundin Mining Corporation (which holds a 30 percent interest in TFHL), and the parties are working towards a satisfactory resolution in order to complete the transaction in fourth-quarter 2016. In addition, La Générale des Carrières et des Mines (Gécamines), which is wholly owned by the DRC government and holds a 20 percent non-dilutable interest in TFM, recently filed an arbitration proceeding with the International Chamber of Commerce (ICC) International Court of Arbitration challenging the transaction; however, FCX believes that Gécamines’ claims have no legal basis. In accordance with the mandatory prepayment provisions of FCX's Term Loan, one half of the proceeds from this transaction will 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 income (loss) were not impacted by discontinued operations as TFHL did not have any other comprehensive income (loss), 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): September 30, December 31, 2015 Assets Cash and cash equivalents $ 68 $ 29 Inventories 1,129 584 Receivables and other current assets 140 131 Property, plant, equipment and mining development costs, net 3,062 — Other assets 250 — Total current assets held for sale $ 4,649 a $ 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 a Liabilities Accounts payable and accrued liabilities $ 84 $ 108 Deferred income taxes 691 — Asset retirement obligations and other liabilities 46 — Total current liabilities held for sale $ 821 $ 108 Deferred income taxes $ — $ 681 Asset retirement obligations and other liabilities — 37 Total long-term liabilities held for sale $ — $ 718 Noncontrolling interests $ 1,192 $ 1,178 a. Amount differs from the totals on FCX's consolidated balance sheets because of other assets held for sale. Net (loss) income from discontinued operations in the consolidated statements of operations consists of the following (in millions): Three Months Ended Nine Months Ended September 30, September 30, 2016 2015 2016 2015 Revenues a $ 261 $ 299 $ 819 $ 991 Costs and expenses: Production and delivery costs 248 207 730 637 Depreciation, depletion and amortization — b 65 80 b 195 Interest expense allocated from parent c 12 6 33 20 Other costs and expenses, net 4 7 10 24 (Loss) income before income taxes and estimated loss on disposal (3 ) 14 (34 ) 115 Estimated loss on disposal d (5 ) — (182 ) — Net (loss) income before income taxes (8 ) 14 (216 ) 115 Benefit from (provision for) income taxes 2 11 25 (20 ) Net (loss) income from discontinued operations $ (6 ) $ 25 $ (191 ) $ 95 a. In accordance with accounting guidance, amounts are net of eliminations of intercompany sales totaling $53 million in third-quarter 2016, $29 million in third-quarter 2015, $125 million for the first nine months of 2016 and $98 million for the first nine 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): Nine Months Ended September 30, 2016 2015 Net cash provided by operating activities $ 213 $ 186 Net cash used in investing activities (71 ) (173 ) Net cash used in financing activities (103 ) (55 ) Increase (decrease) in cash and cash equivalents in assets held for sale $ 39 $ (42 ) 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)	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE FCX’s basic net income (loss) per share attributable to common stockholders was computed by dividing net income (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 income (loss) and weighted-average shares of common stock outstanding for purposes of calculating basic and diluted net income (loss) per share follows (in millions, except per share amounts): Three Months Ended Nine Months Ended September 30, September 30, 2016 2015 2016 2015 Net income (loss) from continuing operations $ 292 $ (3,815 ) $ (4,034 ) $ (8,090 ) Net income from continuing operations attributable to noncontrolling interests (37 ) (13 ) (146 ) (61 ) Preferred dividends on redeemable noncontrolling interest (10 ) (11 ) (31 ) (31 ) Undistributed earnings allocated to participating securities (3 ) (3 ) (3 ) (3 ) Net income (loss) from continuing operations attributable to common stockholders $ 242 $ (3,842 ) $ (4,214 ) $ (8,185 ) Net (loss) income from discontinued operations $ (6 ) $ 25 $ (191 ) $ 95 Net income from discontinued operations attributable to noncontrolling interests (22 ) (16 ) (44 ) (68 ) Net (loss) income from discontinued operations attributable to common stockholders $ (28 ) $ 9 $ (235 ) $ 27 Net income (loss) attributable to common stockholders $ 214 $ (3,833 ) $ (4,449 ) $ (8,158 ) Basic weighted-average shares of common stock outstanding 1,346 1,071 1,289 1,050 Add shares issuable upon exercise or vesting of dilutive stock options and RSUs 5 a — a — a — a Diluted weighted-average shares of common stock outstanding 1,351 1,071 1,289 1,050 Basic and diluted net income (loss) per share attributable to common stockholders: Continuing operations $ 0.18 $ (3.59 ) $ (3.27 ) $ (7.80 ) Discontinued operations (0.02 ) 0.01 (0.18 ) 0.03 $ 0.16 $ (3.58 ) $ (3.45 ) $ (7.77 ) a. Excludes 6 million shares of common stock in third-quarter 2016 , 7 million in third-quarter 2015 , 12 million for the first nine months of 2016 and 10 million for the first nine 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 both the third quarter and first nine months of 2016 , 48 million in third-quarter 2015 and 45 million for the first nine months of 2015 .

Inventories, Including Long-Ter

Inventories, Including Long-Term Mill and Leach Stockpiles (Unaudited)	9 Months Ended
	Sep. 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): September 30, December 31, 2015 Current inventories: Total materials and supplies, net a $ 1,348 $ 1,594 Mill stockpiles $ 172 $ 137 Leach stockpiles 1,140 1,402 Total current mill and leach stockpiles $ 1,312 $ 1,539 Raw materials (primarily concentrate) $ 209 $ 220 Work-in-process 94 108 Finished goods 722 743 Total product inventories $ 1,025 $ 1,071 Long-term inventories: Mill stockpiles $ 580 $ 480 Leach stockpiles 1,143 1,183 Total long-term mill and leach stockpiles b $ 1,723 $ 1,663 a. Materials and supplies inventory was net of obsolescence reserves totaling $31 million at September 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 metals inventory carrying values of $20 million in third-quarter 2016 and $27 million for the first nine months of 2016, primarily for molybdenum because of lower molybdenum prices and higher average inventory costs, and $91 million in third-quarter 2015 and $154 million for the first nine 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)	9 Months Ended
	Sep. 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 (2) percent for the first nine months of 2016 and 18 percent for the first nine months of 2015 . Geographic sources of FCX's benefit from (provision for) income taxes follow (in millions): Three Months Ended Nine Months Ended September 30, September 30, 2016 2015 2016 2015 U.S. operations $ 331 $ 356 $ 293 $ 2,020 International operations (217 ) (7 ) (372 ) (258 ) Total $ 114 $ 349 $ (79 ) $ 1,762 As a result of the impairment to U.S. oil and gas properties, FCX recorded tax charges of $1.6 billion for the first nine months of 2016 and $2.0 billion for the first nine 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. In addition, FCX recorded net tax credits of $290 million for the first nine months of 2016 associated with alternative minimum tax credits, changes to valuation allowances and net operating loss carryback claims. Excluding these net charges, FCX's consolidated effective income tax rate was 32 percent for the first nine months of 2016 and 37 percent for the first nine 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 announced 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 nine months ended September 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)	9 Months Ended
	Sep. 30, 2016
Debt and Equity Transactions [Abstract]
Debt and Equity Transactions	DEBT AND EQUITY Debt. The components of debt follow (in millions): September 30, December 31, 2015 Term Loan $ 2,448 $ 3,032 Revolving credit facility — — Cerro Verde credit facility 1,612 1,781 Cerro Verde shareholder loans 261 259 Lines of credit 129 442 Senior notes and debentures: Issued by FCX 11,552 11,908 Issued by Freeport-McMoRan Oil & Gas LLC (FM O&G LLC) 2,517 2,539 Issued by FMC 359 359 Other (including equipment capital leases and other short-term borrowings) 104 108 Total debt a 18,982 20,428 Less current portion of debt (802 ) (649 ) Long-term debt $ 18,180 $ 19,779 a. Includes additions for unamortized fair value adjustments totaling $187 million at September 30, 2016, and $210 million at December 31, 2015, and net reductions for unamortized debt issuance costs and unamortized discounts of $111 million at September 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, which requires one-half of proceeds from asset sales to be applied toward repaying the Term Loan. Refer to Note 18 of FCX's annual report on Form 10-K for the year ended December 31, 2015, as recast in the Form 8-K filed on November 9, 2016 , 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 and the interest in the Timok exploration project. With closed and pending asset sales exceeding the required $3 billion threshold under FCX's revolving credit facility and Term Loan as of June 30, 2016, the springing collateral requirement under these agreements was not triggered on that date. Since the closing of the transactions necessary to reach the $3 billion threshold is not expected to occur until fourth-quarter 2016, FCX was required to pledge its shares in FMC on June 30, 2016, which will be released upon closing of transactions necessary to reach the required threshold. If the required $3 billion threshold for asset sale closings has not been reached by December 31, 2016, the springing collateral requirement will be triggered. At September 30, 2016 , there were no borrowings outstanding and $43 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 the second and third quarters of 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 Redemption Value Gain 3.55% Senior Notes due 2022 $ 108 $ 1 $ 107 $ 96 $ 11 3.875% Senior Notes due 2023 77 — 77 68 9 5.40% Senior Notes due 2034 50 1 49 41 8 5.450% Senior Notes due 2043 134 2 132 106 26 Total $ 369 $ 4 $ 365 $ 311 $ 54 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 $211 million in both the third quarter of 2016 and 2015 , $647 million for the first nine months of 2016 and $622 million for the first nine months of 2015 . Capitalized interest added to property, plant, equipment and mining development costs, net, totaled $24 million in third-quarter 2016 , $42 million in third-quarter 2015 , $66 million for the first nine months of 2016 and $134 million for the first nine months of 2015 . Capitalized interest added to oil and gas properties not subject to amortization totaled $12 million in third-quarter 2015 ( none in third-quarter 2016), $7 million for the first nine months of 2016 and $50 million for the first nine 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 2015 at-the-market equity programs. At October 31, 2016, FCX has approximately $12 million remaining under these at-the-market equity programs. FCX used the proceeds to repay outstanding indebtedness. On July 27, 2016 , FCX commenced a new registered at-the-market equity offering of up to $1.5 billion of common stock. Through September 30, 2016, FCX sold 33.5 million shares of its common stock at an average price of $12.39 per share, which generated gross proceeds of $415 million (net proceeds of $411 million after $4 million of commissions and expenses). From October 1, 2016, through November 8, 2016 , FCX sold 26.3 million shares of its common stock at an average price of $11.54 per share, which generated gross proceeds of $304 million (net proceeds of $301 million after $3 million of commissions and expenses). FCX will use the proceeds to repay outstanding indebtedness. 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 and through August 4, 2016, FCX negotiated private exchange transactions exempt from registration under the Securities Act of 1933, as amended, whereby 28 million shares of FCX's common stock were issued (with an aggregate value of $311 million ), in exchange for $369 million principal amount of FCX’s senior notes.

Financial Instruments (Unaudite

Financial Instruments (Unaudited)	9 Months Ended
	Sep. 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 September 30, 2016 , and December 31, 2015 , FCX had no price protection contracts relating to its mine production or future sales of oil and gas. In connection with the agreement to sell FM O&G's onshore California properties, FCX entered into derivative contracts for oil and gas (see Note 2). A discussion of FCX’s derivative contracts and programs, except for the oil and gas derivative contracts discussed in Note 2, 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 NYMEX, 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 nine -month periods ended September 30, 2016 and 2015 , resulting from hedge ineffectiveness. At September 30, 2016 , FCX held copper futures and swap contracts that qualified for hedge accounting for 53 million pounds at an average contract price of $2.18 per pound, with maturities through April 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 Nine Months Ended September 30, September 30, 2016 2015 2016 2015 Copper futures and swap contracts: Unrealized gains (losses): Derivative financial instruments $ 1 $ (2 ) $ 11 $ — Hedged item – firm sales commitments (1 ) 2 (11 ) — Realized losses: Matured derivative financial instruments — (12 ) (8 ) (23 ) 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, as recast in the Form 8-K filed on November 9, 2016 , 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 September 30, 2016 , follows: Open Positions Average Price Per Unit Maturities Through Contract Market Embedded derivatives in provisional sales contracts: Copper (millions of pounds) 752 $ 2.15 $ 2.21 February 2017 Gold (thousands of ounces) 162 1,329 1,328 January 2017 Embedded derivatives in provisional purchase contracts: Copper (millions of pounds) 133 2.16 2.20 January 2017 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. Copper Forward Contracts. Atlantic Copper, FCX's wholly owned smelting and refining unit in Spain, enters into copper forward contracts designed to hedge its copper price risk whenever its physical purchases and sales pricing periods do not match. These economic hedge transactions are intended to hedge against changes in copper prices, with the mark-to-market hedging gains or losses recorded in cost of sales. At September 30, 2016 , Atlantic Copper held net copper forward purchase contracts for 10 million pounds at an average contract price of $2.17 per pound, with maturities through November 2016 . Summary of Gains (Losses). A summary of the realized and unrealized gains (losses) recognized in FCX's income (loss) before income taxes and equity in affiliated companies’ net earnings (losses) for commodity contracts that do not qualify as hedge transactions, including embedded derivatives, follows (in millions): Three Months Ended Nine Months Ended September 30, September 30, 2016 2015 2016 2015 Embedded derivatives in provisional copper and gold sales contracts a $ 12 $ (155 ) $ 88 $ (299 ) Copper forward contracts b (1 ) (8 ) 4 (15 ) Crude oil options a — 29 — 87 a. Amounts recorded in revenues. b. Amounts recorded in cost of sales as production and delivery costs. Unsettled Derivative Financial Instruments A summary of the fair values of unsettled commodity derivative financial instruments follows (in millions): September 30, December 31, 2015 Commodity Derivative Assets: Derivatives designated as hedging instruments : Copper futures and swap contracts a $ 3 $ 1 Derivatives not designated as hedging instruments : Embedded derivatives in provisional copper and gold sales/purchase contracts 47 19 Total derivative assets $ 50 $ 20 Commodity Derivative Liabilities: Derivatives designated as hedging instruments : Copper futures and swap contracts a $ 1 $ 11 Derivatives not designated as hedging instruments : Embedded derivatives in provisional copper and gold sales/purchase contracts 9 81 Total derivative liabilities $ 10 $ 92 a. FCX had paid a minimal amount to brokers at September 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 September 30, 2016 December 31, 2015 September 30, 2016 December 31, 2015 Gross amounts recognized: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts $ 47 $ 19 $ 9 $ 81 Copper derivatives 3 1 1 11 50 20 10 92 Less gross amounts of offset: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts 1 5 1 5 Copper derivatives 1 1 1 1 2 6 2 6 Net amounts presented in balance sheet: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts 46 14 8 76 Copper derivatives 2 — — 10 $ 48 $ 14 $ 8 $ 86 Balance sheet classification: Trade accounts receivable $ 48 $ 9 $ 4 $ 51 Accounts payable and accrued liabilities — 5 4 35 $ 48 $ 14 $ 8 $ 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 September 30, 2016 , the maximum amount of credit exposure associated with derivative transactions was $48 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 $58 million at September 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)	9 Months Ended
	Sep. 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 third -quarter 2016 . Effective January 1, 2016, FCX retrospectively adopted the 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 September 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 5 5 — 5 — — Total 51 51 24 27 — — Legally restricted funds: a,b,c U.S. core fixed income fund at NAV 55 55 55 — — — Government bonds and notes 37 37 — — 37 — Corporate bonds 32 32 — — 32 — Government mortgage-backed securities 27 27 — — 27 — Asset-backed securities 16 16 — — 16 — Money market funds 13 13 — 13 — — Collateralized mortgage-backed securities 7 7 — — 7 — Municipal bonds 1 1 — — 1 — Total 188 188 55 13 120 — Derivatives: a,d Embedded derivatives in provisional sales/ purchase contracts in a gross asset position 47 47 — — 47 — Copper futures and swap contracts 3 3 — 3 — — Total 50 50 — 3 47 — Total assets $ 289 $ 79 $ 43 $ 167 $ — Liabilities Derivatives: a,d Embedded derivatives in provisional sales/ purchase contracts in a gross liability position $ 9 $ 9 $ — $ — $ 9 $ — Copper futures and swap contracts 1 1 — — 1 — Total 10 10 — — 10 — Contingent consideration for the settlements of drilling rig contracts e 18 18 — — 18 — Long-term debt, including current portion f 18,982 17,926 — — 17,926 — Total liabilities $ 17,954 $ — $ — $ 17,954 $ — 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 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,d 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,d 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 f 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 (i) other current assets of $28 million at September 30, 2016 , and December 31, 2015 , and (ii) other assets of $120 million at September 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. Refer to Note 7 for further discussion and balance sheet classifications. e. Included in accounts payable and accrued liabilities. f. Recorded at cost except for debt assumed in acquisitions, which were recorded at fair value at the respective acquisition dates. Valuation Techniques. Money market funds are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices in active markets. 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 forecasts 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 September 30, 2016 .

Contingencies and Commitments (

Contingencies and Commitments (Unaudited)	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	CONTINGENCIES AND COMMITMENTS Litigation. During third-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, as recast in the Form 8-K filed on November 9, 2016 . 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, as recast in the Form 8-K filed on November 9, 2016 , 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 $430 million (based on the exchange rate as of September 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 September 30, 2016, FCX estimates the total exposure associated with these mining royalties for the period from December 2006 through December 2013 approximates $537 million (based on the exchange rate as of September 30, 2016), including estimated accumulated interest and penalties. No amounts have been accrued for these assessments as of September 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 third-quarter 2016 (refer to Note 12 of FCX’s annual report on Form 10-K for the year ended December 31, 2015 , as recast in the Form 8-K filed on November 9, 2016 , 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, as recast in the Form 8-K filed on November 9, 2016 . 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 filed objections for $152 million of the tax assessments in third-quarter 2016. 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 August 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 April 2016, and PT-FI has filed or will file appeals with the Indonesia Tax Court. The aggregate amount of all assessments received through September 30, 2016, including penalties, was 3.0 trillion Indonesian rupiah ( $231 million based on the exchange rate as of September 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 September 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 third-quarter 2016 (refer to Note 13 of FCX’s annual report on Form 10-K for the year ended December 31, 2015 , as recast in the Form 8-K filed on November 9, 2016 , for further discussion). In August 2016, PT-FI's export permit was renewed through January 11, 2017 , and the Indonesian government continues to impose a five percent export duty while it reviews PT-FI's smelter development plans. Current regulations published by the Indonesian government prohibit exports of copper concentrate and anode slimes after January 12, 2017. Indonesian government officials have indicated an intent to revise this regulation to protect employment and government revenues. The nature of any potential revisions of the regulation is currently uncertain. PT-FI is actively engaged with Indonesian government officials on this matter. 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 FCX paid 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 $18 million as of September 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)	9 Months Ended
	Sep. 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). 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 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 September 30, 2016 Revenues: Unaffiliated customers $ 115 $ 112 $ 227 $ 505 $ 112 $ 617 $ 984 a $ — $ 930 $ 445 $ 247 b $ 3,450 $ 427 $ — $ 3,877 Intersegment 358 499 857 54 — 54 2 46 7 — (966 ) — — — — Production and delivery 275 458 733 333 91 424 478 c 51 931 416 (777 ) 2,256 231 d 22 d 2,509 Depreciation, depletion and amortization 51 78 129 109 25 134 110 15 2 7 19 416 223 4 643 Impairment of oil and gas properties — — — — — — — — — — — — 238 1 239 Metals inventory adjustments — 6 6 — — — — 6 — — 8 20 — — 20 Selling, general and administrative expenses 1 — 1 1 1 2 24 — — 5 3 35 31 44 110 Mining exploration and research expenses — 1 1 — — — — — — — 12 13 — — 13 Environmental obligations and shutdown credits — — — — — — — — — — (3 ) (3 ) — — (3 ) Net loss (gain) on sales of assets 1 — 1 — — — — — — — — 1 (7 ) (7 ) (13 ) Operating income (loss) 145 68 213 116 (5 ) 111 374 (26 ) 4 17 19 712 (289 ) (64 ) 359 Interest expense, net 1 — 1 21 — 21 — — — 3 21 46 102 39 187 Provision for (benefit from) income taxes — — — 36 (4 ) 32 158 — — — — 190 — (304 ) (114 ) Total assets at September 30, 2016 2,881 4,540 7,421 9,139 1,551 10,690 9,830 1,953 238 565 6,170 e 36,867 3,462 1,071 41,400 e Capital expenditures 6 5 11 38 1 39 256 1 — 5 21 e 333 160 1 494 Three Months Ended September 30, 2015 Revenues: Unaffiliated customers $ 165 $ 58 $ 223 $ 238 $ 187 $ 425 $ 557 a $ — $ 946 $ 438 $ 267 b $ 2,856 $ 525 f $ 1 $ 3,382 Intersegment 332 614 946 13 — 13 52 83 5 1 (1,100 ) — — — — Production and delivery 357 616 c 973 177 167 c 344 417 83 c 946 410 (873 ) c 2,300 293 d 2 c 2,595 Depreciation, depletion and amortization 51 85 136 57 32 89 90 26 2 10 16 369 450 4 823 Impairment of oil and gas properties — — — — — — — — — — — — 3,480 172 g 3,652 Metals inventory adjustments — 55 55 — — — — 3 — — 33 91 — — 91 Selling, general and administrative expenses 1 — 1 1 — 1 24 — — 4 5 35 37 50 122 Mining exploration and research expenses — 1 1 — — — — — — — 25 26 — — 26 Environmental obligations and shutdown costs — 3 3 — — — — — — — 33 36 — 1 37 Operating income (loss) 88 (88 ) — 16 (12 ) 4 78 (29 ) 3 15 (72 ) (1 ) (3,735 ) (228 ) (3,964 ) Interest expense, net 1 — 1 — — — — — — 3 19 23 51 83 157 Provision for (benefit from) income taxes — — — — 2 2 21 — — — — 23 — (372 ) (349 ) Total assets at September 30, 2015 3,720 5,159 8,879 9,136 1,843 10,979 8,965 2,017 235 699 6,426 e 38,200 11,911 272 50,383 e Capital expenditures 61 33 94 421 16 437 222 3 1 10 78 e 845 635 h 47 1,527 a. Includes PT-FI’s sales to PT Smelting totaling $348 million in third-quarter 2016 and $61 million in third-quarter 2015 . b. 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. c. Third-quarter 2016 includes asset retirement charges of $17 million at Indonesia mining. Third-quarter 2015 includes asset impairment and restructuring charges totaling $75 million at other North America copper mines, and restructuring charges totaling $11 million at other South America copper mines, $2 million at Molybdenum mines, $ 2 million at Other Mining & Eliminations and $ 2 million at Corporate, Other & Eliminations. d. Includes net charges for oil and gas operations totaling $50 million in third-quarter 2016 and $21 million in third-quarter 2015 , primarily for idle rig costs, inventory adjustments, asset impairments and other net charges. e. Includes (i) assets held for sale totaling $4.7 billion at September 30, 2016 , and $4.9 billion at September 30, 2015 , and (ii) capital expenditures totaling $15 million in third-quarter 2016 and $69 million in third-quarter 2015 associated with discontinued operations. Refer to Note 2 for a summary of the results of discontinued operations. f. Includes net mark-to-market gains of $29 million associated with crude oil derivative contracts. g. Reflects impairment charges for international oil and gas properties primarily in Morocco. h. Excludes international oil and gas capital expenditures totaling $37 million , primarily related to the Morocco oil and gas properties, which are included in Corporate, Other & Eliminations. (In millions) Mining Operations North America Copper Mines South America Indonesia 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 Nine Months Ended September 30, 2016 Revenues: Unaffiliated customers $ 356 $ 211 $ 567 $ 1,485 $ 379 $ 1,864 $ 2,014 a $ — $ 2,820 $ 1,360 $ 696 b $ 9,321 $ 1,132 $ — $ 10,453 Intersegment 1,119 1,594 2,713 155 — 155 59 136 22 3 (3,088 ) — — — — Production and delivery 913 1,334 2,247 927 313 1,240 1,228 c 147 2,820 1,275 (2,562 ) 6,395 1,527 d 35 d 7,957 Depreciation, depletion and amortization 170 237 407 319 83 402 284 51 7 22 57 1,230 696 11 1,937 Impairment of oil and gas properties — — — — — — — — — — — — 4,299 18 e 4,317 Metals inventory adjustments — 6 6 — — — — 12 — — 9 27 — — 27 Selling, general and administrative expenses 2 2 4 5 1 6 60 — — 13 9 92 161 f 155 408 Mining exploration and research expenses — 2 2 — — — — — — — 44 46 — — 46 Environmental obligations and shutdown costs — — — — — — — — — — 17 17 — 1 18 Net gain on sales of assets (576 ) — (576 ) — — — — — — — (172 ) (748 ) (7 ) (7 ) (762 ) Operating income (loss) 966 224 1,190 389 (18 ) 371 501 (74 ) 15 53 206 2,262 (5,544 ) (213 ) (3,495 ) Interest expense, net 2 1 3 63 — 63 — — — 11 60 137 266 171 574 Provision for (benefit from) income taxes — — — 126 (12 ) 114 212 — — — — 326 — (247 ) 79 Capital expenditures 71 16 87 329 3 332 715 2 1 12 84 g 1,233 1,028 h 48 2,309 Nine Months Ended September 30, 2015 Revenues: Unaffiliated customers $ 451 $ 265 $ 716 $ 681 $ 639 $ 1,320 $ 1,969 a $ — $ 3,097 $ 1,473 $ 921 b $ 9,496 $ 1,594 i $ 1 $ 11,091 Intersegment 1,209 1,984 3,193 64 (7 ) j 57 37 298 20 12 (3,617 ) — — — — Production and delivery 1,117 1,750 c 2,867 540 464 c 1,004 1,311 247 c 3,097 1,397 (2,925 ) c 6,998 857 d 7 c 7,862 Depreciation, depletion and amortization 157 251 408 134 102 236 238 77 7 29 51 1,046 1,465 11 2,522 Impairment of oil and gas properties — — — — — — — — — — — — 9,270 172 e 9,442 Metals inventory adjustments — 66 66 — — — — 6 — — 82 154 — — 154 Selling, general and administrative expenses 2 2 4 2 1 3 74 — — 13 16 110 140 171 421 Mining exploration and research expenses — 6 6 — — — — — — — 77 83 — — 83 Environmental obligations and shutdown costs — 3 3 — — — — — — — 57 60 — 1 61 Net gain on sales of assets — (39 ) (39 ) — — — — — — — — (39 ) — — (39 ) Operating income (loss) 384 210 594 69 65 134 383 (32 ) 13 46 (54 ) 1,084 (10,138 ) (361 ) (9,415 ) Interest expense, net 2 1 3 1 — 1 — — — 8 57 69 129 240 438 Provision for (benefit from) income taxes — — — — 32 32 145 — — — — 177 — (1,939 ) (1,762 ) Capital expenditures 224 84 308 1,296 43 1,339 660 10 2 18 197 g 2,534 2,430 h 91 5,055 a. Includes PT-FI's sales to PT Smelting totaling $912 million for the first nine months of 2016 and $704 million for the first nine months of 2015 . b. 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. c. The first nine months of 2016 include asset retirement charges of $17 million at Indonesia mining. The first nine months of 2015 includes asset impairment and restructuring charges totaling $75 million at other North America copper mines, and restructuring charges totaling $11 million at other South America copper mines, $2 million at Molybdenum mines, $ 2 million at Other Mining & Eliminations and $ 2 million at Corporate, Other & Eliminations. d. Includes charges for oil and gas operations totaling $942 million for the first nine months of 2016 and $59 million for the first nine months of 2015 , primarily for drillship settlement/idle rig costs, inventory adjustments, asset impairments and other net charges. e. Reflects impairment charges for international oil and gas properties primarily in Morocco. f. Includes $38 million for net restructuring-related charges. g. Includes capital expenditures of $70 million for the first nine months of 2016 and $166 million for the first nine months of 2015 associated with discontinued operations. Refer to Note 2 for a summary of the results of discontinued operations. h. Excludes international oil and gas capital expenditures totaling $47 million for the first nine months of 2016 and $81 million for the first nine 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 $87 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 for the first nine months of 2015.

Guarantor Financial Statements

Guarantor Financial Statements (Unaudited) (Notes)	9 Months Ended
	Sep. 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 September 30, 2016 , and December 31, 2015 , and the related condensed consolidating statements of comprehensive (loss) income for the three and nine months ended September 30, 2016 and 2015 , and cash flows for the nine months ended September 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 September 30, 2016 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX ASSETS Current assets, other than assets held for sale $ 320 $ 2,463 $ 7,914 $ (3,855 ) $ 6,842 Current assets held for sale — — 4,663 — 4,663 Property, plant, equipment and mining development costs, net 22 52 23,339 2 23,415 Oil and gas properties, net - full cost method: Subject to amortization, less accumulated amortization and impairments — 266 712 1 979 Not subject to amortization — 406 1,237 1 1,644 Investments in consolidated subsidiaries 20,511 — — (20,511 ) — Other assets 891 41 3,776 (851 ) 3,857 Total assets $ 21,744 $ 3,228 $ 41,641 $ (25,213 ) $ 41,400 LIABILITIES AND EQUITY Current liabilities, other than liabilities held for sale $ 2,697 $ 340 $ 4,483 $ (3,853 ) $ 3,667 Current liabilities held for sale — — 821 — 821 Long-term debt, less current portion 13,426 7,624 11,642 (14,512 ) 18,180 Deferred income taxes 845 a — 2,704 — 3,549 Environmental and asset retirement obligations, less current portion — 352 3,373 — 3,725 Investments in consolidated subsidiaries — 828 9,267 (10,095 ) — Other liabilities 44 3,351 1,710 (3,487 ) 1,618 Total liabilities 17,012 12,495 34,000 (31,947 ) 31,560 Redeemable noncontrolling interest — — 774 — 774 Equity: Stockholders' equity 4,732 (9,267 ) 3,108 6,159 4,732 Noncontrolling interests — — 3,759 575 4,334 Total equity 4,732 (9,267 ) 6,867 6,734 9,066 Total liabilities and equity $ 21,744 $ 3,228 $ 41,641 $ (25,213 ) $ 41,400 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 24,163 — 24,246 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 3,586 (6,798 ) 3,652 Assets held for sale — — 4,124 — 4,124 Total assets $ 29,556 $ 7,817 $ 47,839 $ (38,635 ) $ 46,577 LIABILITIES AND EQUITY Current liabilities, other than liabilities 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 INCOME (LOSS) Three Months Ended September 30, 2016 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 110 $ 3,767 $ — $ 3,877 Total costs and expenses 12 266 a 3,239 a 1 3,518 Operating (loss) income (12 ) (156 ) 528 (1 ) 359 Interest expense, net (126 ) (18 ) (132 ) 89 (187 ) Net gain on early extinguishment of debt 15 — — — 15 Other income (expense), net 76 — (10 ) (76 ) (10 ) (Loss) income before income taxes and equity in affiliated companies' net (losses) earnings (47 ) (174 ) 386 12 177 Benefit from (provision for) income taxes 343 (197 ) (40 ) 8 114 Equity in affiliated companies' net (losses) earnings (75 ) (218 ) (589 ) 883 1 Net income (loss) from continuing operations 221 (589 ) (243 ) 903 292 Net (loss) income from discontinued operations (4 ) — 10 (12 ) (6 ) Net income (loss) 217 (589 ) (233 ) 891 286 Net income and preferred dividends attributable to noncontrolling interests: Continuing operations — — (24 ) (23 ) (47 ) Discontinued operations — — (22 ) — (22 ) Net income (loss) attributable to common stockholders $ 217 $ (589 ) $ (279 ) $ 868 $ 217 Other comprehensive income (loss) 12 — 12 (12 ) 12 Total comprehensive income (loss) $ 229 $ (589 ) $ (267 ) $ 856 $ 229 a. Includes charges totaling $95 million at the FM O&G LLC guarantor and $0.2 billion at the non-guarantor subsidiaries related to impairment of FCX's oil and gas properties pursuant to full cost accounting rules. Nine Months Ended September 30, 2016 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 294 $ 10,159 $ — $ 10,453 Total costs and expenses 56 2,859 a 11,026 a 7 13,948 Operating loss (56 ) (2,565 ) (867 ) (7 ) (3,495 ) Interest expense, net (404 ) (37 ) (370 ) 237 (574 ) Net gain on early extinguishment of debt 51 — — — 51 Other income (expense), net 197 — 59 (202 ) 54 (Loss) income before income taxes and equity in affiliated companies' net (losses) earnings (212 ) (2,602 ) (1,178 ) 28 (3,964 ) (Provision for) benefit from income taxes (1,785 ) 725 979 2 (79 ) Equity in affiliated companies' net (losses) earnings (2,450 ) (3,202 ) (5,072 ) 10,733 9 Net (loss) income from continuing operations (4,447 ) (5,079 ) (5,271 ) 10,763 (4,034 ) Net income (loss) from discontinued operations 1 — (159 ) (33 ) (191 ) Net (loss) income (4,446 ) (5,079 ) (5,430 ) 10,730 (4,225 ) Net income and preferred dividends attributable to noncontrolling interests: Continuing operations — — (141 ) (36 ) (177 ) Discontinued operations — — (44 ) — (44 ) Net (loss) income attributable to common stockholders $ (4,446 ) $ (5,079 ) $ (5,615 ) $ 10,694 $ (4,446 ) Other comprehensive income (loss) 27 — 27 (27 ) 27 Total comprehensive (loss) income $ (4,419 ) $ (5,079 ) $ (5,588 ) $ 10,667 $ (4,419 ) a. Includes charges totaling $1.5 billion at the FM O&G LLC guarantor and $2.8 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 September 30, 2015 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 158 $ 3,224 $ — $ 3,382 Total costs and expenses 12 1,874 a 5,462 a (2 ) 7,346 Operating (loss) income (12 ) (1,716 ) (2,238 ) 2 (3,964 ) Interest expense, net (123 ) (1 ) (72 ) 39 (157 ) Other income (expense), net 31 — (36 ) (36 ) (41 ) (Loss) income before income taxes and equity in affiliated companies' net (losses) earnings (104 ) (1,717 ) (2,346 ) 5 (4,162 ) (Provision for) benefit from income taxes (1,287 ) 714 924 (2 ) 349 Equity in affiliated companies' net (losses) earnings (2,443 ) (2,237 ) (2,445 ) 7,123 (2 ) Net (loss) income from continuing operations (3,834 ) (3,240 ) (3,867 ) 7,126 (3,815 ) Net income from discontinued operations 4 — 21 — 25 Net (loss) income (3,830 ) (3,240 ) (3,846 ) 7,126 (3,790 ) Net income and preferred dividends attributable to noncontrolling interests: Continuing operations — — (23 ) (1 ) (24 ) Discontinued operations — — (16 ) — (16 ) Net (loss) income attributable to common stockholders $ (3,830 ) $ (3,240 ) $ (3,885 ) $ 7,125 $ (3,830 ) Other comprehensive income (loss) 14 — 14 (14 ) 14 Total comprehensive (loss) income $ (3,816 ) $ (3,240 ) $ (3,871 ) $ 7,111 $ (3,816 ) a. Includes charges totaling $1.7 billion at the FM O&G LLC guarantor and $2.0 billion at the non-guarantor subsidiaries related to impairment of FCX's oil and gas properties pursuant to full cost accounting rules. Nine Months Ended September 30, 2015 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 508 $ 10,583 $ — $ 11,091 Total costs and expenses 47 4,409 a 16,065 a (15 ) 20,506 Operating (loss) income (47 ) (3,901 ) (5,482 ) 15 (9,415 ) Interest expense, net (359 ) (7 ) (182 ) 110 (438 ) Other income (expense), net 187 — (85 ) (100 ) 2 (Loss) income before income taxes and equity in affiliated companies' net (losses) earnings (219 ) (3,908 ) (5,749 ) 25 (9,851 ) (Provision for) benefit from income taxes (1,978 ) 1,504 2,246 (10 ) 1,762 Equity in affiliated companies' net (losses) earnings (5,967 ) (6,516 ) (8,947 ) 21,429 (1 ) Net (loss) income from continuing operations (8,164 ) (8,920 ) (12,450 ) 21,444 (8,090 ) Net income from discontinued operations 9 — 86 — 95 Net (loss) income (8,155 ) (8,920 ) (12,364 ) 21,444 (7,995 ) Net income and preferred dividends attributable to noncontrolling interests: Continuing operations — — (65 ) (27 ) (92 ) Discontinued operations — — (68 ) — (68 ) Net (loss) income attributable to common stockholders $ (8,155 ) $ (8,920 ) $ (12,497 ) $ 21,417 $ (8,155 ) Other comprehensive income (loss) 35 — 35 (35 ) 35 Total comprehensive (loss) income $ (8,120 ) $ (8,920 ) $ (12,462 ) $ 21,382 $ (8,120 ) a. Includes charges totaling $3.7 billion at the FM O&G LLC guarantor and $5.7 billion at the non-guarantor subsidiaries related to impairment of FCX's oil and gas properties pursuant to full cost accounting rules. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Nine Months Ended September 30, 2016 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Cash flow from operating activities: Net (loss) income $ (4,446 ) $ (5,079 ) $ (5,430 ) $ 10,730 $ (4,225 ) Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: Depreciation, depletion and amortization 4 146 1,882 (15 ) 2,017 Impairment of oil and gas properties — 1,531 2,765 21 4,317 Equity in losses (earnings) of affiliated companies 2,450 3,202 5,072 (10,733 ) (9 ) Other, net (116 ) 575 (424 ) (4 ) 31 Changes in working capital and other tax payments, excluding amounts from dispositions 1,844 (669 ) (714 ) 2 463 Net cash (used in) provided by operating activities (264 ) (294 ) 3,151 1 2,594 Cash flow from investing activities: Capital expenditures — (497 ) (1,814 ) 2 (2,309 ) Intercompany loans (1,021 ) (518 ) — 1,539 — Dividends from (investments in) consolidated subsidiaries 1,643 (41 ) 124 (1,726 ) — Asset sales and other, net — 208 1,210 (3 ) 1,415 Net cash provided by (used in) investing activities 622 (848 ) (480 ) (188 ) (894 ) Cash flow from financing activities: Proceeds from debt 1,721 — 1,742 — 3,463 Repayments of debt (2,498 ) — (2,041 ) — (4,539 ) Intercompany loans — 1,223 316 (1,539 ) — Net proceeds from sale of common stock 442 — 374 (374 ) 442 Cash dividends and distributions paid, and contributions received, net (5 ) (78 ) (2,096 ) 2,087 (92 ) Other, net (18 ) (2 ) (15 ) 13 (22 ) Net cash (used in) provided by financing activities (358 ) 1,143 (1,720 ) 187 (748 ) Net increase in cash and cash equivalents — 1 951 — 952 Increase in cash and cash equivalents in assets held for sale — — (39 ) — (39 ) Cash and cash equivalents at beginning of period — — 195 — 195 Cash and cash equivalents at end of period $ — $ 1 $ 1,107 $ — $ 1,108 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Nine Months Ended September 30, 2015 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Cash flow from operating activities: Net (loss) income $ (8,155 ) $ (8,920 ) $ (12,364 ) $ 21,444 $ (7,995 ) Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: Depreciation, depletion and amortization 3 303 2,474 (63 ) 2,717 Impairment of oil and gas properties — 3,710 5,684 48 9,442 Net gains on crude oil derivative contracts — (87 ) — — (87 ) Equity in losses (earnings) of affiliated companies 5,967 6,516 8,947 (21,429 ) 1 Other, net (1,953 ) 2 139 — (1,812 ) Changes in working capital and other tax payments 4,001 (1,213 ) (2,457 ) 11 342 Net cash (used in) provided by operating activities (137 ) 311 2,423 11 2,608 Cash flow from investing activities: Capital expenditures (7 ) (959 ) (4,079 ) (10 ) (5,055 ) Intercompany loans (1,310 ) (955 ) — 2,265 — Dividends from (investments in) consolidated subsidiaries 693 (49 ) 102 (748 ) (2 ) Other, net (21 ) (2 ) 118 21 116 Net cash (used in) provided by investing activities (645 ) (1,965 ) (3,859 ) 1,528 (4,941 ) Cash flow from financing activities: Proceeds from debt 3,893 — 2,659 — 6,552 Repayments of debt (3,550 ) — (1,143 ) — (4,693 ) Intercompany loans — 1,708 557 (2,265 ) — Net proceeds from sale of common stock 999 — — — 999 Cash dividends and distributions paid, and contributions received, net (547 ) (17 ) (749 ) 677 (636 ) Other, net (13 ) (37 ) (14 ) 49 (15 ) Net cash provided by (used in) financing activities 782 1,654 1,310 (1,539 ) 2,207 Net (decrease) increase in cash and cash equivalents — — (126 ) — (126 ) Decrease in cash and cash equivalents in assets held for sale — — 42 — 42 Cash and cash equivalents at beginning of period — 1 316 — 317 Cash and cash equivalents at end of period $ — $ 1 $ 232 $ — $ 233

New Accounting Standard (Unaudi

New Accounting Standard (Unaudited)	9 Months Ended
	Sep. 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 expects to adopt this ASU effective January 1, 2017, and does not expect adoption to have a material impact on its financial statements. In June 2016, FASB issued an ASU that changes the impairment model for most financial assets and certain other instruments, and will also require expanded disclosures. For public entities, this ASU is effective for interim and annual reporting periods beginning after December 15, 2019, with early adoption permitted. The provisions of the ASU must be applied as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. FCX is currently evaluating the impact this ASU will have on its financial statements.

Subsequent Events (Unaudited)

Subsequent Events (Unaudited)	9 Months Ended
	Sep. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS On October 14, 2016 , FM O&G entered into an agreement to sell its onshore California oil and gas properties. Refer to Note 2 for further discussion. FCX evaluated events after September 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)	9 Months Ended
	Sep. 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): September 30, December 31, 2015 Assets Cash and cash equivalents $ 68 $ 29 Inventories 1,129 584 Receivables and other current assets 140 131 Property, plant, equipment and mining development costs, net 3,062 — Other assets 250 — Total current assets held for sale $ 4,649 a $ 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 a Liabilities Accounts payable and accrued liabilities $ 84 $ 108 Deferred income taxes 691 — Asset retirement obligations and other liabilities 46 — Total current liabilities held for sale $ 821 $ 108 Deferred income taxes $ — $ 681 Asset retirement obligations and other liabilities — 37 Total long-term liabilities held for sale $ — $ 718 Noncontrolling interests $ 1,192 $ 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 Nine Months Ended September 30, September 30, 2016 2015 2016 2015 Revenues a $ 261 $ 299 $ 819 $ 991 Costs and expenses: Production and delivery costs 248 207 730 637 Depreciation, depletion and amortization — b 65 80 b 195 Interest expense allocated from parent c 12 6 33 20 Other costs and expenses, net 4 7 10 24 (Loss) income before income taxes and estimated loss on disposal (3 ) 14 (34 ) 115 Estimated loss on disposal d (5 ) — (182 ) — Net (loss) income before income taxes (8 ) 14 (216 ) 115 Benefit from (provision for) income taxes 2 11 25 (20 ) Net (loss) income from discontinued operations $ (6 ) $ 25 $ (191 ) $ 95 a. In accordance with accounting guidance, amounts are net of eliminations of intercompany sales totaling $53 million in third-quarter 2016, $29 million in third-quarter 2015, $125 million for the first nine months of 2016 and $98 million for the first nine 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): Nine Months Ended September 30, 2016 2015 Net cash provided by operating activities $ 213 $ 186 Net cash used in investing activities (71 ) (173 ) Net cash used in financing activities (103 ) (55 ) Increase (decrease) in cash and cash equivalents in assets held for sale $ 39 $ (42 )

Earnings Per Share (Unaudited)

Earnings Per Share (Unaudited) (Tables)	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Reconciliation of net income and weighted-average shares of common stock outstanding	A reconciliation of net income (loss) and weighted-average shares of common stock outstanding for purposes of calculating basic and diluted net income (loss) per share follows (in millions, except per share amounts): Three Months Ended Nine Months Ended September 30, September 30, 2016 2015 2016 2015 Net income (loss) from continuing operations $ 292 $ (3,815 ) $ (4,034 ) $ (8,090 ) Net income from continuing operations attributable to noncontrolling interests (37 ) (13 ) (146 ) (61 ) Preferred dividends on redeemable noncontrolling interest (10 ) (11 ) (31 ) (31 ) Undistributed earnings allocated to participating securities (3 ) (3 ) (3 ) (3 ) Net income (loss) from continuing operations attributable to common stockholders $ 242 $ (3,842 ) $ (4,214 ) $ (8,185 ) Net (loss) income from discontinued operations $ (6 ) $ 25 $ (191 ) $ 95 Net income from discontinued operations attributable to noncontrolling interests (22 ) (16 ) (44 ) (68 ) Net (loss) income from discontinued operations attributable to common stockholders $ (28 ) $ 9 $ (235 ) $ 27 Net income (loss) attributable to common stockholders $ 214 $ (3,833 ) $ (4,449 ) $ (8,158 ) Basic weighted-average shares of common stock outstanding 1,346 1,071 1,289 1,050 Add shares issuable upon exercise or vesting of dilutive stock options and RSUs 5 a — a — a — a Diluted weighted-average shares of common stock outstanding 1,351 1,071 1,289 1,050 Basic and diluted net income (loss) per share attributable to common stockholders: Continuing operations $ 0.18 $ (3.59 ) $ (3.27 ) $ (7.80 ) Discontinued operations (0.02 ) 0.01 (0.18 ) 0.03 $ 0.16 $ (3.58 ) $ (3.45 ) $ (7.77 ) a. Excludes 6 million shares of common stock in third-quarter 2016 , 7 million in third-quarter 2015 , 12 million for the first nine months of 2016 and 10 million for the first nine 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)	9 Months Ended
	Sep. 30, 2016
Inventories, Including Long Term Mill and Leach Stockpiles [Abstract]
Schedule of Inventory [Table Text Block]	The components of inventories follow (in millions): September 30, December 31, 2015 Current inventories: Total materials and supplies, net a $ 1,348 $ 1,594 Mill stockpiles $ 172 $ 137 Leach stockpiles 1,140 1,402 Total current mill and leach stockpiles $ 1,312 $ 1,539 Raw materials (primarily concentrate) $ 209 $ 220 Work-in-process 94 108 Finished goods 722 743 Total product inventories $ 1,025 $ 1,071 Long-term inventories: Mill stockpiles $ 580 $ 480 Leach stockpiles 1,143 1,183 Total long-term mill and leach stockpiles b $ 1,723 $ 1,663 a. Materials and supplies inventory was net of obsolescence reserves totaling $31 million at September 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)	9 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Geographic Sources of Provision for Income Taxes	Geographic sources of FCX's benefit from (provision for) income taxes follow (in millions): Three Months Ended Nine Months Ended September 30, September 30, 2016 2015 2016 2015 U.S. operations $ 331 $ 356 $ 293 $ 2,020 International operations (217 ) (7 ) (372 ) (258 ) Total $ 114 $ 349 $ (79 ) $ 1,762

Debt and Equity Transactions 24

Debt and Equity Transactions (Unaudited) Debt (Tables)	9 Months Ended
	Sep. 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 Redemption Value Gain 3.55% Senior Notes due 2022 $ 108 $ 1 $ 107 $ 96 $ 11 3.875% Senior Notes due 2023 77 — 77 68 9 5.40% Senior Notes due 2034 50 1 49 41 8 5.450% Senior Notes due 2043 134 2 132 106 26 Total $ 369 $ 4 $ 365 $ 311 $ 54
Schedule of Debt [Table Text Block]	The components of debt follow (in millions): September 30, December 31, 2015 Term Loan $ 2,448 $ 3,032 Revolving credit facility — — Cerro Verde credit facility 1,612 1,781 Cerro Verde shareholder loans 261 259 Lines of credit 129 442 Senior notes and debentures: Issued by FCX 11,552 11,908 Issued by Freeport-McMoRan Oil & Gas LLC (FM O&G LLC) 2,517 2,539 Issued by FMC 359 359 Other (including equipment capital leases and other short-term borrowings) 104 108 Total debt a 18,982 20,428 Less current portion of debt (802 ) (649 ) Long-term debt $ 18,180 $ 19,779 a. Includes additions for unamortized fair value adjustments totaling $187 million at September 30, 2016, and $210 million at December 31, 2015, and net reductions for unamortized debt issuance costs and unamortized discounts of $111 million at September 30, 2016, and $129 million at December

Financial Instruments (Unaudi25

Financial Instruments (Unaudited) (Tables)	9 Months Ended
	Sep. 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 Nine Months Ended September 30, September 30, 2016 2015 2016 2015 Copper futures and swap contracts: Unrealized gains (losses): Derivative financial instruments $ 1 $ (2 ) $ 11 $ — Hedged item – firm sales commitments (1 ) 2 (11 ) — Realized losses: Matured derivative financial instruments — (12 ) (8 ) (23 )
Schedule of Derivative Instruments	A summary of FCX’s embedded derivatives at September 30, 2016 , follows: Open Positions Average Price Per Unit Maturities Through Contract Market Embedded derivatives in provisional sales contracts: Copper (millions of pounds) 752 $ 2.15 $ 2.21 February 2017 Gold (thousands of ounces) 162 1,329 1,328 January 2017 Embedded derivatives in provisional purchase contracts: Copper (millions of pounds) 133 2.16 2.20 January 2017
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 income (loss) before income taxes and equity in affiliated companies’ net earnings (losses) for commodity contracts that do not qualify as hedge transactions, including embedded derivatives, follows (in millions): Three Months Ended Nine Months Ended September 30, September 30, 2016 2015 2016 2015 Embedded derivatives in provisional copper and gold sales contracts a $ 12 $ (155 ) $ 88 $ (299 ) Copper forward contracts b (1 ) (8 ) 4 (15 ) Crude oil options a — 29 — 87 a. Amounts recorded in revenues. b. Amounts recorded in cost of sales as production and delivery costs.
Fair Values of Unsettled Derivative Financial Instruments	A summary of these unsettled commodity contracts that are offset in the balance sheet follows (in millions): Assets Liabilities September 30, 2016 December 31, 2015 September 30, 2016 December 31, 2015 Gross amounts recognized: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts $ 47 $ 19 $ 9 $ 81 Copper derivatives 3 1 1 11 50 20 10 92 Less gross amounts of offset: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts 1 5 1 5 Copper derivatives 1 1 1 1 2 6 2 6 Net amounts presented in balance sheet: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts 46 14 8 76 Copper derivatives 2 — — 10 $ 48 $ 14 $ 8 $ 86 Balance sheet classification: Trade accounts receivable $ 48 $ 9 $ 4 $ 51 Accounts payable and accrued liabilities — 5 4 35 $ 48 $ 14 $ 8 $ 86 A summary of the fair values of unsettled commodity derivative financial instruments follows (in millions): September 30, December 31, 2015 Commodity Derivative Assets: Derivatives designated as hedging instruments : Copper futures and swap contracts a $ 3 $ 1 Derivatives not designated as hedging instruments : Embedded derivatives in provisional copper and gold sales/purchase contracts 47 19 Total derivative assets $ 50 $ 20 Commodity Derivative Liabilities: Derivatives designated as hedging instruments : Copper futures and swap contracts a $ 1 $ 11 Derivatives not designated as hedging instruments : Embedded derivatives in provisional copper and gold sales/purchase contracts 9 81 Total derivative liabilities $ 10 $ 92 a. FCX had paid a minimal amount to brokers at September 30, 2016 , and $10 million at December 31, 2015 , for margin requirements (recorded in other current assets).

Fair Value Measurement (Unaud26

Fair Value Measurement (Unaudited) (Tables)	9 Months Ended
	Sep. 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 September 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 5 5 — 5 — — Total 51 51 24 27 — — Legally restricted funds: a,b,c U.S. core fixed income fund at NAV 55 55 55 — — — Government bonds and notes 37 37 — — 37 — Corporate bonds 32 32 — — 32 — Government mortgage-backed securities 27 27 — — 27 — Asset-backed securities 16 16 — — 16 — Money market funds 13 13 — 13 — — Collateralized mortgage-backed securities 7 7 — — 7 — Municipal bonds 1 1 — — 1 — Total 188 188 55 13 120 — Derivatives: a,d Embedded derivatives in provisional sales/ purchase contracts in a gross asset position 47 47 — — 47 — Copper futures and swap contracts 3 3 — 3 — — Total 50 50 — 3 47 — Total assets $ 289 $ 79 $ 43 $ 167 $ — Liabilities Derivatives: a,d Embedded derivatives in provisional sales/ purchase contracts in a gross liability position $ 9 $ 9 $ — $ — $ 9 $ — Copper futures and swap contracts 1 1 — — 1 — Total 10 10 — — 10 — Contingent consideration for the settlements of drilling rig contracts e 18 18 — — 18 — Long-term debt, including current portion f 18,982 17,926 — — 17,926 — Total liabilities $ 17,954 $ — $ — $ 17,954 $ — 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 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,d 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,d 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 f 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 (i) other current assets of $28 million at September 30, 2016 , and December 31, 2015 , and (ii) other assets of $120 million at September 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. Refer to Note 7 for further discussion and balance sheet classifications. e. Included in accounts payable and accrued liabilities. f. Recorded at cost except for debt assumed in acquisitions, which were recorded at fair value at the respective acquisition dates.

Business Segments (Unaudited) (

Business Segments (Unaudited) (Tables)	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Schedule of Segment Reporting Information By Segment	Financial Information by Business Segments (In millions) Mining Operations North America Copper Mines South America Indonesia 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 September 30, 2016 Revenues: Unaffiliated customers $ 115 $ 112 $ 227 $ 505 $ 112 $ 617 $ 984 a $ — $ 930 $ 445 $ 247 b $ 3,450 $ 427 $ — $ 3,877 Intersegment 358 499 857 54 — 54 2 46 7 — (966 ) — — — — Production and delivery 275 458 733 333 91 424 478 c 51 931 416 (777 ) 2,256 231 d 22 d 2,509 Depreciation, depletion and amortization 51 78 129 109 25 134 110 15 2 7 19 416 223 4 643 Impairment of oil and gas properties — — — — — — — — — — — — 238 1 239 Metals inventory adjustments — 6 6 — — — — 6 — — 8 20 — — 20 Selling, general and administrative expenses 1 — 1 1 1 2 24 — — 5 3 35 31 44 110 Mining exploration and research expenses — 1 1 — — — — — — — 12 13 — — 13 Environmental obligations and shutdown credits — — — — — — — — — — (3 ) (3 ) — — (3 ) Net loss (gain) on sales of assets 1 — 1 — — — — — — — — 1 (7 ) (7 ) (13 ) Operating income (loss) 145 68 213 116 (5 ) 111 374 (26 ) 4 17 19 712 (289 ) (64 ) 359 Interest expense, net 1 — 1 21 — 21 — — — 3 21 46 102 39 187 Provision for (benefit from) income taxes — — — 36 (4 ) 32 158 — — — — 190 — (304 ) (114 ) Total assets at September 30, 2016 2,881 4,540 7,421 9,139 1,551 10,690 9,830 1,953 238 565 6,170 e 36,867 3,462 1,071 41,400 e Capital expenditures 6 5 11 38 1 39 256 1 — 5 21 e 333 160 1 494 Three Months Ended September 30, 2015 Revenues: Unaffiliated customers $ 165 $ 58 $ 223 $ 238 $ 187 $ 425 $ 557 a $ — $ 946 $ 438 $ 267 b $ 2,856 $ 525 f $ 1 $ 3,382 Intersegment 332 614 946 13 — 13 52 83 5 1 (1,100 ) — — — — Production and delivery 357 616 c 973 177 167 c 344 417 83 c 946 410 (873 ) c 2,300 293 d 2 c 2,595 Depreciation, depletion and amortization 51 85 136 57 32 89 90 26 2 10 16 369 450 4 823 Impairment of oil and gas properties — — — — — — — — — — — — 3,480 172 g 3,652 Metals inventory adjustments — 55 55 — — — — 3 — — 33 91 — — 91 Selling, general and administrative expenses 1 — 1 1 — 1 24 — — 4 5 35 37 50 122 Mining exploration and research expenses — 1 1 — — — — — — — 25 26 — — 26 Environmental obligations and shutdown costs — 3 3 — — — — — — — 33 36 — 1 37 Operating income (loss) 88 (88 ) — 16 (12 ) 4 78 (29 ) 3 15 (72 ) (1 ) (3,735 ) (228 ) (3,964 ) Interest expense, net 1 — 1 — — — — — — 3 19 23 51 83 157 Provision for (benefit from) income taxes — — — — 2 2 21 — — — — 23 — (372 ) (349 ) Total assets at September 30, 2015 3,720 5,159 8,879 9,136 1,843 10,979 8,965 2,017 235 699 6,426 e 38,200 11,911 272 50,383 e Capital expenditures 61 33 94 421 16 437 222 3 1 10 78 e 845 635 h 47 1,527 a. Includes PT-FI’s sales to PT Smelting totaling $348 million in third-quarter 2016 and $61 million in third-quarter 2015 . b. 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. c. Third-quarter 2016 includes asset retirement charges of $17 million at Indonesia mining. Third-quarter 2015 includes asset impairment and restructuring charges totaling $75 million at other North America copper mines, and restructuring charges totaling $11 million at other South America copper mines, $2 million at Molybdenum mines, $ 2 million at Other Mining & Eliminations and $ 2 million at Corporate, Other & Eliminations. d. Includes net charges for oil and gas operations totaling $50 million in third-quarter 2016 and $21 million in third-quarter 2015 , primarily for idle rig costs, inventory adjustments, asset impairments and other net charges. e. Includes (i) assets held for sale totaling $4.7 billion at September 30, 2016 , and $4.9 billion at September 30, 2015 , and (ii) capital expenditures totaling $15 million in third-quarter 2016 and $69 million in third-quarter 2015 associated with discontinued operations. Refer to Note 2 for a summary of the results of discontinued operations. f. Includes net mark-to-market gains of $29 million associated with crude oil derivative contracts. g. Reflects impairment charges for international oil and gas properties primarily in Morocco. h. Excludes international oil and gas capital expenditures totaling $37 million , primarily related to the Morocco oil and gas properties, which are included in Corporate, Other & Eliminations. (In millions) Mining Operations North America Copper Mines South America Indonesia 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 Nine Months Ended September 30, 2016 Revenues: Unaffiliated customers $ 356 $ 211 $ 567 $ 1,485 $ 379 $ 1,864 $ 2,014 a $ — $ 2,820 $ 1,360 $ 696 b $ 9,321 $ 1,132 $ — $ 10,453 Intersegment 1,119 1,594 2,713 155 — 155 59 136 22 3 (3,088 ) — — — — Production and delivery 913 1,334 2,247 927 313 1,240 1,228 c 147 2,820 1,275 (2,562 ) 6,395 1,527 d 35 d 7,957 Depreciation, depletion and amortization 170 237 407 319 83 402 284 51 7 22 57 1,230 696 11 1,937 Impairment of oil and gas properties — — — — — — — — — — — — 4,299 18 e 4,317 Metals inventory adjustments — 6 6 — — — — 12 — — 9 27 — — 27 Selling, general and administrative expenses 2 2 4 5 1 6 60 — — 13 9 92 161 f 155 408 Mining exploration and research expenses — 2 2 — — — — — — — 44 46 — — 46 Environmental obligations and shutdown costs — — — — — — — — — — 17 17 — 1 18 Net gain on sales of assets (576 ) — (576 ) — — — — — — — (172 ) (748 ) (7 ) (7 ) (762 ) Operating income (loss) 966 224 1,190 389 (18 ) 371 501 (74 ) 15 53 206 2,262 (5,544 ) (213 ) (3,495 ) Interest expense, net 2 1 3 63 — 63 — — — 11 60 137 266 171 574 Provision for (benefit from) income taxes — — — 126 (12 ) 114 212 — — — — 326 — (247 ) 79 Capital expenditures 71 16 87 329 3 332 715 2 1 12 84 g 1,233 1,028 h 48 2,309 Nine Months Ended September 30, 2015 Revenues: Unaffiliated customers $ 451 $ 265 $ 716 $ 681 $ 639 $ 1,320 $ 1,969 a $ — $ 3,097 $ 1,473 $ 921 b $ 9,496 $ 1,594 i $ 1 $ 11,091 Intersegment 1,209 1,984 3,193 64 (7 ) j 57 37 298 20 12 (3,617 ) — — — — Production and delivery 1,117 1,750 c 2,867 540 464 c 1,004 1,311 247 c 3,097 1,397 (2,925 ) c 6,998 857 d 7 c 7,862 Depreciation, depletion and amortization 157 251 408 134 102 236 238 77 7 29 51 1,046 1,465 11 2,522 Impairment of oil and gas properties — — — — — — — — — — — — 9,270 172 e 9,442 Metals inventory adjustments — 66 66 — — — — 6 — — 82 154 — — 154 Selling, general and administrative expenses 2 2 4 2 1 3 74 — — 13 16 110 140 171 421 Mining exploration and research expenses — 6 6 — — — — — — — 77 83 — — 83 Environmental obligations and shutdown costs — 3 3 — — — — — — — 57 60 — 1 61 Net gain on sales of assets — (39 ) (39 ) — — — — — — — — (39 ) — — (39 ) Operating income (loss) 384 210 594 69 65 134 383 (32 ) 13 46 (54 ) 1,084 (10,138 ) (361 ) (9,415 ) Interest expense, net 2 1 3 1 — 1 — — — 8 57 69 129 240 438 Provision for (benefit from) income taxes — — — — 32 32 145 — — — — 177 — (1,939 ) (1,762 ) Capital expenditures 224 84 308 1,296 43 1,339 660 10 2 18 197 g 2,534 2,430 h 91 5,055 a. Includes PT-FI's sales to PT Smelting totaling $912 million for the first nine months of 2016 and $704 million for the first nine months of 2015 . b. 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. c. The first nine months of 2016 include asset retirement charges of $17 million at Indonesia mining. The first nine months of 2015 includes asset impairment and restructuring charges totaling $75 million at other North America copper mines, and restructuring charges totaling $11 million at other South America copper mines, $2 million at Molybdenum mines, $ 2 million at Other Mining & Eliminations and $ 2 million at Corporate, Other & Eliminations. d. Includes charges for oil and gas operations totaling $942 million for the first nine months of 2016 and $59 million for the first nine months of 2015 , primarily for drillship settlement/idle rig costs, inventory adjustments, asset impairments and other net charges. e. Reflects impairment charges for international oil and gas properties primarily in Morocco. f. Includes $38 million for net restructuring-related charges. g. Includes capital expenditures of $70 million for the first nine months of 2016 and $166 million for the first nine months of 2015 associated with discontinued operations. Refer to Note 2 for a summary of the results of discontinued operations. h. Excludes international oil and gas capital expenditures totaling $47 million for the first nine months of 2016 and $81 million for the first nine 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 $87 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 for the first nine months of 2015.

Guarantor Financial Statement28

Guarantor Financial Statements (Unaudited) (Tables)	9 Months Ended
	Sep. 30, 2016
Guarantor Financial Statements [Abstract]
Condensed Consolidating Balance Sheets [Table Text Block]	CONDENSED CONSOLIDATING BALANCE SHEET September 30, 2016 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX ASSETS Current assets, other than assets held for sale $ 320 $ 2,463 $ 7,914 $ (3,855 ) $ 6,842 Current assets held for sale — — 4,663 — 4,663 Property, plant, equipment and mining development costs, net 22 52 23,339 2 23,415 Oil and gas properties, net - full cost method: Subject to amortization, less accumulated amortization and impairments — 266 712 1 979 Not subject to amortization — 406 1,237 1 1,644 Investments in consolidated subsidiaries 20,511 — — (20,511 ) — Other assets 891 41 3,776 (851 ) 3,857 Total assets $ 21,744 $ 3,228 $ 41,641 $ (25,213 ) $ 41,400 LIABILITIES AND EQUITY Current liabilities, other than liabilities held for sale $ 2,697 $ 340 $ 4,483 $ (3,853 ) $ 3,667 Current liabilities held for sale — — 821 — 821 Long-term debt, less current portion 13,426 7,624 11,642 (14,512 ) 18,180 Deferred income taxes 845 a — 2,704 — 3,549 Environmental and asset retirement obligations, less current portion — 352 3,373 — 3,725 Investments in consolidated subsidiaries — 828 9,267 (10,095 ) — Other liabilities 44 3,351 1,710 (3,487 ) 1,618 Total liabilities 17,012 12,495 34,000 (31,947 ) 31,560 Redeemable noncontrolling interest — — 774 — 774 Equity: Stockholders' equity 4,732 (9,267 ) 3,108 6,159 4,732 Noncontrolling interests — — 3,759 575 4,334 Total equity 4,732 (9,267 ) 6,867 6,734 9,066 Total liabilities and equity $ 21,744 $ 3,228 $ 41,641 $ (25,213 ) $ 41,400 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 24,163 — 24,246 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 3,586 (6,798 ) 3,652 Assets held for sale — — 4,124 — 4,124 Total assets $ 29,556 $ 7,817 $ 47,839 $ (38,635 ) $ 46,577 LIABILITIES AND EQUITY Current liabilities, other than liabilities 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 INCOME (LOSS) Three Months Ended September 30, 2016 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 110 $ 3,767 $ — $ 3,877 Total costs and expenses 12 266 a 3,239 a 1 3,518 Operating (loss) income (12 ) (156 ) 528 (1 ) 359 Interest expense, net (126 ) (18 ) (132 ) 89 (187 ) Net gain on early extinguishment of debt 15 — — — 15 Other income (expense), net 76 — (10 ) (76 ) (10 ) (Loss) income before income taxes and equity in affiliated companies' net (losses) earnings (47 ) (174 ) 386 12 177 Benefit from (provision for) income taxes 343 (197 ) (40 ) 8 114 Equity in affiliated companies' net (losses) earnings (75 ) (218 ) (589 ) 883 1 Net income (loss) from continuing operations 221 (589 ) (243 ) 903 292 Net (loss) income from discontinued operations (4 ) — 10 (12 ) (6 ) Net income (loss) 217 (589 ) (233 ) 891 286 Net income and preferred dividends attributable to noncontrolling interests: Continuing operations — — (24 ) (23 ) (47 ) Discontinued operations — — (22 ) — (22 ) Net income (loss) attributable to common stockholders $ 217 $ (589 ) $ (279 ) $ 868 $ 217 Other comprehensive income (loss) 12 — 12 (12 ) 12 Total comprehensive income (loss) $ 229 $ (589 ) $ (267 ) $ 856 $ 229 a. Includes charges totaling $95 million at the FM O&G LLC guarantor and $0.2 billion at the non-guarantor subsidiaries related to impairment of FCX's oil and gas properties pursuant to full cost accounting rules. Nine Months Ended September 30, 2016 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 294 $ 10,159 $ — $ 10,453 Total costs and expenses 56 2,859 a 11,026 a 7 13,948 Operating loss (56 ) (2,565 ) (867 ) (7 ) (3,495 ) Interest expense, net (404 ) (37 ) (370 ) 237 (574 ) Net gain on early extinguishment of debt 51 — — — 51 Other income (expense), net 197 — 59 (202 ) 54 (Loss) income before income taxes and equity in affiliated companies' net (losses) earnings (212 ) (2,602 ) (1,178 ) 28 (3,964 ) (Provision for) benefit from income taxes (1,785 ) 725 979 2 (79 ) Equity in affiliated companies' net (losses) earnings (2,450 ) (3,202 ) (5,072 ) 10,733 9 Net (loss) income from continuing operations (4,447 ) (5,079 ) (5,271 ) 10,763 (4,034 ) Net income (loss) from discontinued operations 1 — (159 ) (33 ) (191 ) Net (loss) income (4,446 ) (5,079 ) (5,430 ) 10,730 (4,225 ) Net income and preferred dividends attributable to noncontrolling interests: Continuing operations — — (141 ) (36 ) (177 ) Discontinued operations — — (44 ) — (44 ) Net (loss) income attributable to common stockholders $ (4,446 ) $ (5,079 ) $ (5,615 ) $ 10,694 $ (4,446 ) Other comprehensive income (loss) 27 — 27 (27 ) 27 Total comprehensive (loss) income $ (4,419 ) $ (5,079 ) $ (5,588 ) $ 10,667 $ (4,419 ) a. Includes charges totaling $1.5 billion at the FM O&G LLC guarantor and $2.8 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 September 30, 2015 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 158 $ 3,224 $ — $ 3,382 Total costs and expenses 12 1,874 a 5,462 a (2 ) 7,346 Operating (loss) income (12 ) (1,716 ) (2,238 ) 2 (3,964 ) Interest expense, net (123 ) (1 ) (72 ) 39 (157 ) Other income (expense), net 31 — (36 ) (36 ) (41 ) (Loss) income before income taxes and equity in affiliated companies' net (losses) earnings (104 ) (1,717 ) (2,346 ) 5 (4,162 ) (Provision for) benefit from income taxes (1,287 ) 714 924 (2 ) 349 Equity in affiliated companies' net (losses) earnings (2,443 ) (2,237 ) (2,445 ) 7,123 (2 ) Net (loss) income from continuing operations (3,834 ) (3,240 ) (3,867 ) 7,126 (3,815 ) Net income from discontinued operations 4 — 21 — 25 Net (loss) income (3,830 ) (3,240 ) (3,846 ) 7,126 (3,790 ) Net income and preferred dividends attributable to noncontrolling interests: Continuing operations — — (23 ) (1 ) (24 ) Discontinued operations — — (16 ) — (16 ) Net (loss) income attributable to common stockholders $ (3,830 ) $ (3,240 ) $ (3,885 ) $ 7,125 $ (3,830 ) Other comprehensive income (loss) 14 — 14 (14 ) 14 Total comprehensive (loss) income $ (3,816 ) $ (3,240 ) $ (3,871 ) $ 7,111 $ (3,816 ) a. Includes charges totaling $1.7 billion at the FM O&G LLC guarantor and $2.0 billion at the non-guarantor subsidiaries related to impairment of FCX's oil and gas properties pursuant to full cost accounting rules. Nine Months Ended September 30, 2015 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 508 $ 10,583 $ — $ 11,091 Total costs and expenses 47 4,409 a 16,065 a (15 ) 20,506 Operating (loss) income (47 ) (3,901 ) (5,482 ) 15 (9,415 ) Interest expense, net (359 ) (7 ) (182 ) 110 (438 ) Other income (expense), net 187 — (85 ) (100 ) 2 (Loss) income before income taxes and equity in affiliated companies' net (losses) earnings (219 ) (3,908 ) (5,749 ) 25 (9,851 ) (Provision for) benefit from income taxes (1,978 ) 1,504 2,246 (10 ) 1,762 Equity in affiliated companies' net (losses) earnings (5,967 ) (6,516 ) (8,947 ) 21,429 (1 ) Net (loss) income from continuing operations (8,164 ) (8,920 ) (12,450 ) 21,444 (8,090 ) Net income from discontinued operations 9 — 86 — 95 Net (loss) income (8,155 ) (8,920 ) (12,364 ) 21,444 (7,995 ) Net income and preferred dividends attributable to noncontrolling interests: Continuing operations — — (65 ) (27 ) (92 ) Discontinued operations — — (68 ) — (68 ) Net (loss) income attributable to common stockholders $ (8,155 ) $ (8,920 ) $ (12,497 ) $ 21,417 $ (8,155 ) Other comprehensive income (loss) 35 — 35 (35 ) 35 Total comprehensive (loss) income $ (8,120 ) $ (8,920 ) $ (12,462 ) $ 21,382 $ (8,120 )
Condensed Consolidating Statements of Cash Flows [Table Text Block]	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Nine Months Ended September 30, 2016 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Cash flow from operating activities: Net (loss) income $ (4,446 ) $ (5,079 ) $ (5,430 ) $ 10,730 $ (4,225 ) Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: Depreciation, depletion and amortization 4 146 1,882 (15 ) 2,017 Impairment of oil and gas properties — 1,531 2,765 21 4,317 Equity in losses (earnings) of affiliated companies 2,450 3,202 5,072 (10,733 ) (9 ) Other, net (116 ) 575 (424 ) (4 ) 31 Changes in working capital and other tax payments, excluding amounts from dispositions 1,844 (669 ) (714 ) 2 463 Net cash (used in) provided by operating activities (264 ) (294 ) 3,151 1 2,594 Cash flow from investing activities: Capital expenditures — (497 ) (1,814 ) 2 (2,309 ) Intercompany loans (1,021 ) (518 ) — 1,539 — Dividends from (investments in) consolidated subsidiaries 1,643 (41 ) 124 (1,726 ) — Asset sales and other, net — 208 1,210 (3 ) 1,415 Net cash provided by (used in) investing activities 622 (848 ) (480 ) (188 ) (894 ) Cash flow from financing activities: Proceeds from debt 1,721 — 1,742 — 3,463 Repayments of debt (2,498 ) — (2,041 ) — (4,539 ) Intercompany loans — 1,223 316 (1,539 ) — Net proceeds from sale of common stock 442 — 374 (374 ) 442 Cash dividends and distributions paid, and contributions received, net (5 ) (78 ) (2,096 ) 2,087 (92 ) Other, net (18 ) (2 ) (15 ) 13 (22 ) Net cash (used in) provided by financing activities (358 ) 1,143 (1,720 ) 187 (748 ) Net increase in cash and cash equivalents — 1 951 — 952 Increase in cash and cash equivalents in assets held for sale — — (39 ) — (39 ) Cash and cash equivalents at beginning of period — — 195 — 195 Cash and cash equivalents at end of period $ — $ 1 $ 1,107 $ — $ 1,108 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Nine Months Ended September 30, 2015 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Cash flow from operating activities: Net (loss) income $ (8,155 ) $ (8,920 ) $ (12,364 ) $ 21,444 $ (7,995 ) Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: Depreciation, depletion and amortization 3 303 2,474 (63 ) 2,717 Impairment of oil and gas properties — 3,710 5,684 48 9,442 Net gains on crude oil derivative contracts — (87 ) — — (87 ) Equity in losses (earnings) of affiliated companies 5,967 6,516 8,947 (21,429 ) 1 Other, net (1,953 ) 2 139 — (1,812 ) Changes in working capital and other tax payments 4,001 (1,213 ) (2,457 ) 11 342 Net cash (used in) provided by operating activities (137 ) 311 2,423 11 2,608 Cash flow from investing activities: Capital expenditures (7 ) (959 ) (4,079 ) (10 ) (5,055 ) Intercompany loans (1,310 ) (955 ) — 2,265 — Dividends from (investments in) consolidated subsidiaries 693 (49 ) 102 (748 ) (2 ) Other, net (21 ) (2 ) 118 21 116 Net cash (used in) provided by investing activities (645 ) (1,965 ) (3,859 ) 1,528 (4,941 ) Cash flow from financing activities: Proceeds from debt 3,893 — 2,659 — 6,552 Repayments of debt (3,550 ) — (1,143 ) — (4,693 ) Intercompany loans — 1,708 557 (2,265 ) — Net proceeds from sale of common stock 999 — — — 999 Cash dividends and distributions paid, and contributions received, net (547 ) (17 ) (749 ) 677 (636 ) Other, net (13 ) (37 ) (14 ) 49 (15 ) Net cash provided by (used in) financing activities 782 1,654 1,310 (1,539 ) 2,207 Net (decrease) increase in cash and cash equivalents — — (126 ) — (126 ) Decrease in cash and cash equivalents in assets held for sale — — 42 — 42 Cash and cash equivalents at beginning of period — 1 316 — 317 Cash and cash equivalents at end of period $ — $ 1 $ 232 $ — $ 233

General Information (Unaudite29

General Information (Unaudited) (Details) $ in Millions	3 Months Ended			6 Months Ended	9 Months Ended
	Sep. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2016$ / bbl	Sep. 30, 2016USD ($)$ / bbl	Sep. 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	$ (239)		$ (3,652)		$ (4,317)	$ (9,442)
Crude Oil [Member]
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Average Sales Prices | $ / bbl				43.12	41.68

Dispositions (Details)

Dispositions (Details) MMBTU in Thousands, bbl in Millions		Oct. 14, 2016USD ($)	Sep. 12, 2016USD ($)	Aug. 01, 2016	Jul. 25, 2016USD ($)	Jun. 17, 2016USD ($)	May 31, 2016USD ($)	May 09, 2016USD ($)	May 02, 2016USD ($)	Dec. 31, 2016MMBTU	Sep. 30, 2016USD ($)$ / bbl$ / MMBTU		Jun. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2016	Sep. 30, 2016USD ($)$ / bbl$ / MMBTUbbl		Sep. 30, 2015USD ($)	Dec. 31, 2016USD ($)	May 30, 2016	Dec. 31, 2015USD ($)
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											4,663,000,000			4,868,000,000			4,663,000,000		4,868,000,000			$ 744,000,000
Total long-term assets held for sale											0						0					4,124,000,000
Liabilities
Total current liabilities held for sale											821,000,000						821,000,000					108,000,000
Total long-term liabilities held for sale											0						0					718,000,000
Noncontrolling interests											4,334,000,000						4,334,000,000					4,216,000,000
Costs and expenses:
Net (loss) income from discontinued operations											$ (6,000,000)			25,000,000			$ (191,000,000)		95,000,000
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							$ 576,000,000
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]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Date					Jul. 25, 2016
Net proceeds from sale of additional interest in Morenci					$ 87,000,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | Gulf of Mexico [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Date			Sep. 12, 2016	Aug. 1, 2016
Preferred Stock, Liquidation Preference, Value			$ 582,000,000
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High			150,000,000
Proceeds from Divestiture of Businesses, Net of Cash Divested			$ 2,000,000,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | Onshore California [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		$ 150,000,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | Onshore California [Member] | Subsequent Event [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Date		Oct. 14, 2016
Proceeds from Divestiture of Businesses, Net of Cash Divested		$ 600,000,000
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											$ (53,000,000)			(29,000,000)	$ 41,000,000		$ (125,000,000)		(98,000,000)
Assets
Cash and cash equivalents											68,000,000						68,000,000					29,000,000
Inventories											1,129,000,000						1,129,000,000					584,000,000
Receivables and other current assets											140,000,000						140,000,000					131,000,000
Property, plant, equipment and mining development costs, net											3,062,000,000						3,062,000,000					0
Other assets											250,000,000						250,000,000					0
Total current assets held for sale											4,649,000,000						4,649,000,000					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											84,000,000						84,000,000					108,000,000
Deferred income taxes											691,000,000						691,000,000					0
Asset retirement obligations and other liabilities											46,000,000						46,000,000					0
Total current liabilities held for sale											821,000,000						821,000,000					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											1,192,000,000						1,192,000,000					$ 1,178,000,000
Net (Loss) Income from Discontinued Operations in the Consolidated Statements of Operations
Revenues	[1]										261,000,000			299,000,000			819,000,000		991,000,000
Costs and expenses:
Production and delivery costs											248,000,000			207,000,000			730,000,000		637,000,000
Depreciation, depletion and amortization											0	[2]		65,000,000			80,000,000	[2]	195,000,000
Interest expense allocated from parent	[3]										12,000,000			6,000,000			33,000,000		20,000,000
Other costs and expenses, net											4,000,000			7,000,000			10,000,000		24,000,000
(Loss) income before income taxes and estimated loss on disposal											(3,000,000)			14,000,000			(34,000,000)		115,000,000
Estimated loss on disposal	[4]										(5,000,000)			0			(182,000,000)		0
Net (loss) income before income taxes											(8,000,000)			14,000,000			(216,000,000)		115,000,000
Benefit from (provision for) income taxes											2,000,000			11,000,000			25,000,000		(20,000,000)
Net (loss) income from discontinued operations											$ (6,000,000)			$ 25,000,000			$ (191,000,000)		$ 95,000,000
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		70						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%						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%						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
Crude Oil [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | Onshore California [Member] | Subsequent Event [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		50,000,000
2018 [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | Onshore California [Member] | Subsequent Event [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		50,000,000
2019 [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | Onshore California [Member] | Subsequent Event [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		50,000,000
2020 [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | Onshore California [Member] | Subsequent Event [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		$ 50,000,000
Natural Gas [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Derivative, Nonmonetary Notional Amount, Percent of Required Need, Coverage											48.00%						48.00%
Derivative, Forward Price | $ / MMBTU											3.1445						3.1445
Natural Gas [Member] | Commodity Contract [Member] | Subsequent Event [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU										28,900
Crude Oil [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Derivative, Nonmonetary Notional Amount, Percent of Required Need, Coverage											72.00%						72.00%
Derivative, Forward Price | $ / bbl											50						50
Crude Oil [Member] | Commodity Contract [Member] | Crude Oil and Natural Gas Derivatives [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Derivative, Nonmonetary Notional Amount, Volume | bbl																	19.4
Derivative, Forward Price | $ / bbl											56.04						56.04
Crude Oil [Member] | Commodity Contract [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Derivative, Nonmonetary Notional Amount, Volume | bbl																	5.2
Derivative, Price Risk Option Strike Price | $ / bbl											63.69						63.69
[1]	a.In accordance with accounting guidance, amounts are net of eliminations of intercompany sales totaling $53 million in third-quarter 2016, $29 million in third-quarter 2015, $125 million for the first nine months of 2016 and $98 million for the first nine 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	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Increase (decrease) in cash and cash equivalents in assets held for sale	$ 39	$ (42)
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	213	186
Net cash used in investing activities	(71)	(173)
Net cash used in financing activities	(103)	(55)
Increase (decrease) in cash and cash equivalents in assets held for sale	$ 39	$ (42)

Earnings Per Share (Unaudited32

Earnings Per Share (Unaudited) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Earnings Per Share [Abstract]
Net income (loss) from continuing operations		$ 292	$ (3,815)	$ (4,034)	$ (8,090)
Net income from continuing operations attributable to noncontrolling interests		(37)	(13)	(146)	(61)
Preferred dividends on redeemable noncontrolling interest		(10)	(11)	(31)	(31)
Undistributed earnings allocated to participating securities		(3)	(3)	(3)	(3)
Net income (loss) from continuing operations attributable to common stockholders		242	(3,842)	(4,214)	(8,185)
Net (loss) income from discontinued operations		(6)	25	(191)	95
Net income from discontinued operations attributable to noncontrolling interests		(22)	(16)	(44)	(68)
Net (loss) income from discontinued operations attributable to common stockholders		(28)	9	(235)	27
Net income (loss) attributable to common stockholders		$ 214	$ (3,833)	$ (4,449)	$ (8,158)
Basic weighted-average shares of common stock outstanding		1,346	1,071	1,289	1,050
Add shares issuable upon exercise or vesting of dilutive stock options and RSUs	[1]	5	0	0	0
Diluted weighted-average shares of common stock outstanding		1,351	1,071	1,289	1,050
Basic and diluted net income (loss) per share attributable to common stockholders:
Continuing operations		$ 0.18	$ (3.59)	$ (3.27)	$ (7.80)
Discontinued operations		(0.02)	0.01	(0.18)	0.03
Basic and diluted net income (loss) per share attributable to common stockholders:		$ 0.16	$ (3.58)	$ (3.45)	$ (7.77)
Potential anti-dilutive additional shares of common stock (in shares)		6	7	12	10
Outstanding stock options with exercise prices greater than average market price of common stock (in shares)		46	48	46	45
[1]	Excludes 6 million shares of common stock in third-quarter 2016, 7 million in third-quarter 2015, 12 million for the first nine months of 2016 and 10 million for the first nine 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		9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Components of Inventories [Line Items]
Total materials and supplies, net	[1]	$ 1,348		$ 1,348		$ 1,594
Total current mill and leach stockpiles		1,312		1,312		1,539
Raw materials (primarily concentrate)		209		209		220
Work-in-process		94		94		108
Finished goods		722		722		743
Total product inventories		1,025		1,025		1,071
Total long-term mill and leach stockpiles		1,723		1,723		1,663
Inventory obsolescence reserves		31		31		26
Mining inventory adjustments		(20)	$ (91)	(27)	$ (154)
Current [Member]
Components of Inventories [Line Items]
Mill stockpiles		172		172		137
Leach stockpiles		1,140		1,140		1,402
Total current mill and leach stockpiles		1,312		1,312		1,539
Long-Term [Member]
Components of Inventories [Line Items]
Mill stockpiles		580		580		480
Leach stockpiles		1,143		1,143		1,183
Total long-term mill and leach stockpiles	[2]	$ 1,723		$ 1,723		$ 1,663
[1]	Materials and supplies inventory was net of obsolescence reserves totaling $31 million at September 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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Consolidated effective income tax rate (percent)			(2.00%)	18.00%
U.S. operations	$ 331	$ 356	$ 293	$ 2,020
International operations	(217)	(7)	(372)	(258)
Total	$ 114	$ 349	(79)	1,762
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount			$ 1,600	$ 2,000
Effective Income Tax Rate, Adjusted, Percent			32.00%	37.00%

Debt and Equity Transactions 35

Debt and Equity Transactions (Unaudited) (Details) - USD ($) shares in Millions		Jul. 29, 2016	Jan. 05, 2016	Nov. 08, 2016	Feb. 26, 2016	Sep. 30, 2016	Jun. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Jun. 30, 2016	Sep. 30, 2016	Sep. 30, 2015	Jan. 05, 2016	Dec. 31, 2015
Extinguishment of Debt [Line Items]
Long-term Debt, Gross	[1]					$ 18,982,000,000			$ 18,982,000,000		$ 18,982,000,000			$ 20,428,000,000
Debt, Current						(802,000,000)			(802,000,000)		(802,000,000)			(649,000,000)
Long-term debt, less current portion						18,180,000,000			18,180,000,000		18,180,000,000			19,779,000,000
Liabilities, Fair Value Adjustment											187,000,000			210,000,000
Unamortized Debt Issuance Expense						111,000,000			$ 111,000,000		111,000,000			129,000,000
Early Repayment of Subordinated Debt							$ 568,000,000
Common Stock, Value of Shares Authorized for Issue in Transaction		$ 12,000,000				$ 12.39
Stock Issued During Period, Shares, New Issues						33.5			28
Proceeds from Issuance of Common Stock, Gross						$ 415,000,000			$ 311,000,000		1,500,000,000			2,000,000,000
Extinguishment of Debt, Amount									365,000,000
Proceeds from Issuance of Common Stock			$ 1,970,000,000			411,000,000					442,000,000	$ 999,000,000
Fees and Commissions			$ 20,000,000			4,000,000
Bank Term Loan [Member]
Extinguishment of Debt [Line Items]
Long-term Debt, Gross						2,448,000,000			2,448,000,000		2,448,000,000			3,032,000,000
Credit Facility [Domain] | Revolving Credit Facility [Member]
Extinguishment of Debt [Line Items]
Long-term Debt, Gross						0			0		0			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						43,000,000			43,000,000		43,000,000
Line of Credit Facility, Remaining Borrowing Capacity						3,500,000,000			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		1,500,000,000
Line of Credit [Member]
Extinguishment of Debt [Line Items]
Long-term Debt, Gross						129,000,000			129,000,000		129,000,000			442,000,000
Senior Notes [Member]
Extinguishment of Debt [Line Items]
Long-term Debt, Gross						11,552,000,000			11,552,000,000		11,552,000,000			11,908,000,000
Extinguishment of Debt, Amount									369,000,000
Extinguishment of Debt, Principal Amount									369,000,000
Notes Payable, Other Payables [Member]
Extinguishment of Debt [Line Items]
Long-term Debt, Gross						104,000,000			104,000,000		104,000,000			108,000,000
Cerro Verde [Member] | Credit Facility [Domain]
Extinguishment of Debt [Line Items]
Long-term Debt, Gross						1,612,000,000			1,612,000,000		1,612,000,000			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		261,000,000			259,000,000
Freeport-McMoRan Oil & Gas [Member]
Extinguishment of Debt [Line Items]
Long-term debt, less current portion						7,624,000,000			7,624,000,000		7,624,000,000			5,883,000,000
Proceeds from Issuance of Common Stock											0	0
Freeport-McMoRan Oil & Gas [Member] | Senior Notes [Member]
Extinguishment of Debt [Line Items]
Long-term Debt, Gross						2,517,000,000			2,517,000,000		2,517,000,000			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			$ 359,000,000
Subsequent Event [Member]
Extinguishment of Debt [Line Items]
Common Stock, Value of Shares Authorized for Issue in Transaction				$ 11.54
Stock Issued During Period, Shares, New Issues				26.3
Proceeds from Issuance of Common Stock, Gross				$ 304,000,000
Proceeds from Issuance of Common Stock				301,000,000
Fees and Commissions				$ 3,000,000
Common Stock [Member]
Extinguishment of Debt [Line Items]
Stock Issued During Period, Shares, New Issues			4								114		210	206
Proceeds from Issuance of Common Stock, Gross			$ 32,000,000
Minimum [Member]
Extinguishment of Debt [Line Items]
Asset Sales Required						3,000,000,000			$ 3,000,000,000		$ 3,000,000,000
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
Oil and Gas Properties [Member]
Extinguishment of Debt [Line Items]
Interest Costs Capitalized						$ 0	$ 0	$ 12,000,000			$ 7,000,000	$ 50,000,000
[1]	a.Includes additions for unamortized fair value adjustments totaling $187 million at September 30, 2016, and $210 million at December 31, 2015, and net reductions for unamortized debt issuance costs and unamortized discounts of $111 million at September 30, 2016, and $129 million at December

Debt and Equity Transactions 36

Debt and Equity Transactions (Unaudited) Interest, Dividends and Maturities (Details) - USD ($) shares in Millions	Jul. 29, 2016	Jan. 05, 2016	Nov. 08, 2016	Sep. 30, 2016	Jun. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Capitalized Interest [Line Items]
Interest costs incurred				$ 211,000,000		$ 211,000,000		$ 647,000,000	$ 622,000,000
Common Stock, Value of Shares Authorized for Issue in Transaction	$ 12,000,000			$ 12.39
Stock Issued During Period, Shares, New Issues				33.5			28
Proceeds from Issuance of Common Stock, Gross				$ 415,000,000			$ 311,000,000	1,500,000,000		$ 2,000,000,000
Fees and Commissions		$ 20,000,000		4,000,000
Property, Plant, Equipment and Mining Development Costs, Net [Member]
Capitalized Interest [Line Items]
Interest costs capitalized				24,000,000		42,000,000		66,000,000	134,000,000
Oil and Gas Properties Not Subject to Amortization [Member]
Capitalized Interest [Line Items]
Interest costs capitalized				$ 0	$ 0	$ 12,000,000		$ 7,000,000	$ 50,000,000
Subsequent Event [Member]
Capitalized Interest [Line Items]
Common Stock, Value of Shares Authorized for Issue in Transaction			$ 11.54
Stock Issued During Period, Shares, New Issues			26.3
Proceeds from Issuance of Common Stock, Gross			$ 304,000,000
Fees and Commissions			$ 3,000,000

Debt and Equity Transactions 37

Debt and Equity Transactions (Unaudited) Early Extinguishment of debt (Details) - USD ($) $ in Millions	Jan. 05, 2016	Sep. 30, 2016	Mar. 31, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Extinguishment of Debt [Line Items]
Proceeds from Issuance of Common Stock, Gross		$ 415			$ 311	$ 1,500		$ 2,000
Write off of Deferred Debt Issuance Cost					4
Extinguishment of Debt, Amount					365
Extinguishment Of Debt, Redemption Value					311
Net gain on early extinguishment of debt		$ 15		$ 0	54	$ 51	$ 0
Senior Notes [Member]
Extinguishment of Debt [Line Items]
Extinguishment of Debt, Principal Amount					369
Extinguishment of Debt, Amount					369
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					134
Write off of Deferred Debt Issuance Cost					2
Extinguishment of Debt, Amount					132
Extinguishment Of Debt, Redemption Value					106
Net gain on early extinguishment of debt					26
3.55% Senior Notes due 2022 | Senior Notes [Member]
Extinguishment of Debt [Line Items]
Extinguishment of Debt, Principal Amount					108
Write off of Deferred Debt Issuance Cost					1
Extinguishment of Debt, Amount					107
Extinguishment Of Debt, Redemption Value					96
Net gain on early extinguishment of debt					11
3.875% Senior Notes due March 2023 [Member] | Senior Notes [Member]
Extinguishment of Debt [Line Items]
Extinguishment of Debt, Principal Amount					77
Write off of Deferred Debt Issuance Cost					0
Extinguishment of Debt, Amount					77
Extinguishment Of Debt, Redemption Value					68
Net gain on early extinguishment of debt					9
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
Extinguishment Of Debt, Redemption Value					41
Net gain on early extinguishment of debt					$ 8
Common Stock [Member]
Extinguishment of Debt [Line Items]
Proceeds from Issuance of Common Stock, Gross	$ 32

Financial Instruments (Unaudi38

Financial Instruments (Unaudited) (Details) - Commodity Contract [Member] - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Fair Value Hedging [Member] | Sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative financial instruments		$ 1	$ (2)	$ 11	$ 0
Hedged item – firm sales commitments		(1)	2	(11)	0
Matured derivative financial instruments		0	(12)	(8)	(23)
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]	12	(155)	88	(299)
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]	(1)	(8)	4	(15)
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	$ 29	$ 0	$ 87
[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	9 Months Ended
	Sep. 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	752
Average contract price	2.15
Average market price	2.21
Maturities through	Feb. 28, 2017
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	162
Average contract price | $ / oz	1,329
Average market price | $ / oz	1,328
Maturities through	Jan. 31, 2017
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	133
Average contract price	2.16
Average market price	2.20
Maturities through	Jan. 31, 2017
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	53
Average contract price	2.18
Maturities through	Apr. 30, 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	10
Average contract price	2.17
Maturities through	Nov. 30, 2016

Financial Instruments (Unaudi40

Financial Instruments (Unaudited) Unsettled Derivatives (Details) - USD ($) $ in Millions		Sep. 30, 2016	Dec. 31, 2015
Derivatives, Fair Value [Line Items]
Derivative Asset		$ 48	$ 14
Derivative Liability		8	86
Paid to brokers associated with margin requirements			10
Trade Accounts Receivable [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset		48	9
Derivative Liability		4	51
Accounts Payable and Accrued Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset		0	5
Derivative Liability		4	35
Commodity Contract [Member] | Derivatives not designated as hedging instruments
Derivatives, Fair Value [Line Items]
Asset position		50	20
Liability position		10	92
Derivative Asset, Fair Value, Gross Liability		2	6
Derivative Liability, Fair Value, Gross Asset		2	6
Derivative Asset		48	14
Derivative Liability		8	86
Commodity Contract [Member] | Copper Derivatives [Member] | Derivatives not designated as hedging instruments
Derivatives, Fair Value [Line Items]
Asset position		3	1
Liability position		1	11
Derivative Asset, Fair Value, Gross Liability		1	1
Derivative Liability, Fair Value, Gross Asset		1	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]	3	1
Liability position	[1]	1	11
Commodity Contract [Member] | Embedded derivatives in provisional sales/purchases contracts [Member] | Derivatives not designated as hedging instruments
Derivatives, Fair Value [Line Items]
Asset position		47	19
Liability position		9	81
Derivative Asset, Fair Value, Gross Liability		1	5
Derivative Liability, Fair Value, Gross Asset		1	5
Derivative Asset		46	14
Derivative Liability		$ 8	$ 76
[1]	FCX had paid a minimal amount to brokers at September 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	Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2014
Cash and Cash Equivalents [Line Items]
Credit Derivative, Maximum Exposure, Undiscounted	$ 48
Cash and cash equivalents	1,108	$ 195	$ 233	$ 317
Time Deposits [Member]
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 58	$ 34

Fair Value Measurement (Unaud42

Fair Value Measurement (Unaudited) (Details) - USD ($) $ in Millions		Sep. 30, 2016		Jun. 30, 2016	[6]	Dec. 31, 2015
Derivatives:
Derivative assets		$ 48				$ 14
Derivatives:
Derivative Liability		8				86
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Investment securities (current and long-term):
Investment securities	[1],[2]	27				24
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3]	13				7
Derivatives:
Derivative assets	[2],[4]	3				1
Total assets		43				32
Derivatives:
Derivative Liability	[2],[4]	0				7
Loss Contingency, Accrual, Noncurrent	[5]	0
Long-term debt, including current portion	[6]	0				0
Total liabilities		0				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]	120				112
Derivatives:
Derivative assets	[2],[4]	47				19
Total assets		167				131
Derivatives:
Derivative Liability	[2],[4]	10				85
Loss Contingency, Accrual, Noncurrent	[5]	18
Long-term debt, including current portion	[6]	17,926				13,987
Total liabilities		17,954				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]	0				0
Derivatives:
Derivative assets	[2],[4]	0				0
Total assets		0				0
Derivatives:
Derivative Liability	[2],[4]	0				0
Loss Contingency, Accrual, Noncurrent	[5]	0
Long-term debt, including current portion	[6]	0				0
Total liabilities		0				0
Fair Value, Measurements, Recurring [Member] | Embedded derivatives in provisional sales/purchases contracts [Member] | Fair Value, Inputs, Level 1 [Member]
Derivatives:
Derivative Liability	[2],[4]	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],[4]	9				81
Fair Value, Measurements, Recurring [Member] | Embedded derivatives in provisional sales/purchases contracts [Member] | Fair Value, Inputs, Level 3 [Member]
Derivatives:
Derivative Liability	[2],[4]	0				0
Fair Value, Measurements, Recurring [Member] | Copper futures and swap contracts [Member] | Fair Value, Inputs, Level 1 [Member]
Derivatives:
Derivative Liability	[2],[4]	0				7
Fair Value, Measurements, Recurring [Member] | Copper futures and swap contracts [Member] | Fair Value, Inputs, Level 2 [Member]
Derivatives:
Derivative Liability	[2],[4]	1				4
Fair Value, Measurements, Recurring [Member] | Copper futures and swap contracts [Member] | Fair Value, Inputs, Level 3 [Member]
Derivatives:
Derivative Liability	[2],[4]	0				0
Fair Value, Measurements, Recurring [Member] | U.S. core fixed income fund [Member] | Fair Value, Inputs, Level 1 [Member]
Investment securities (current and long-term):
Investment securities		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]	13				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]	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]	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]	5				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]	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]	37				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]	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]	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]	27				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]	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]	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]	32				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]	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]	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]	16				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]	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]	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]	7				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]	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]	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]	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]	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],[4]	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],[4]	47				19
Fair Value, Measurements, Recurring [Member] | Embedded derivatives in provisional sales/purchases contracts [Member] | Fair Value, Inputs, Level 3 [Member]
Derivatives:
Derivative assets	[2],[4]	0				0
Fair Value, Measurements, Recurring [Member] | Copper futures and swap contracts [Member] | Fair Value, Inputs, Level 1 [Member]
Derivatives:
Derivative assets	[2],[4]	3				1
Fair Value, Measurements, Recurring [Member] | Copper futures and swap contracts [Member] | Fair Value, Inputs, Level 2 [Member]
Derivatives:
Derivative assets	[2],[4]	0				0
Fair Value, Measurements, Recurring [Member] | Copper futures and swap contracts [Member] | Fair Value, Inputs, Level 3 [Member]
Derivatives:
Derivative assets	[2],[4]	0				0
Reported Value Measurement [Member] | Fair Value, Measurements, Recurring [Member]
Investment securities (current and long-term):
Investment securities	[1],[2]	51				47
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3]	188				171
Derivatives:
Derivative assets	[2],[4]	50				20
Derivatives:
Derivative Liability	[2],[4]	10				92
Loss Contingency, Accrual, Noncurrent		18	[5]	$ 18
Long-term debt, including current portion	[6]	18,982				20,428
Reported Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Embedded derivatives in provisional sales/purchases contracts [Member]
Derivatives:
Derivative Liability	[2],[4]	9				81
Reported Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Copper futures and swap contracts [Member]
Derivatives:
Derivative Liability	[2],[4]	1				11
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]	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]	13				7
Reported Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Equity securities [Member]
Investment securities (current and long-term):
Investment securities	[1],[2]	5				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]	37				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]	27				28
Reported Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Corporate bonds [Member]
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3]	32				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]	16				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]	7				7
Reported Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Municipal bonds [Member]
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3]	1				1
Reported Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Embedded derivatives in provisional sales/purchases contracts [Member]
Derivatives:
Derivative assets	[2],[4]	47				19
Reported Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Copper futures and swap contracts [Member]
Derivatives:
Derivative assets	[2],[4]	3				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		28				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]	51				47
Legally restricted funds (long-term):
Legally restricted funds	[1],[2],[3]	188				171
Derivatives:
Derivative assets	[2],[4]	50				20
Total assets		289				238
Derivatives:
Derivative Liability	[2],[4]	10				92
Loss Contingency, Accrual, Noncurrent	[5]	18
Long-term debt, including current portion	[6]	17,926				13,987
Total liabilities		17,954				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],[4]	9				81
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Copper futures and swap contracts [Member]
Derivatives:
Derivative Liability	[2],[4]	1				11
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]	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]	13				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]	5				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]	37				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]	27				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]	32				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]	16				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]	7				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]	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],[4]	47				19
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Copper futures and swap contracts [Member]
Derivatives:
Derivative assets	[2],[4]	3				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]	55				52
Derivatives:
Derivative assets	[2],[4]	0				0
Total assets		79				75
Derivatives:
Derivative Liability	[2],[4]	0				0
Loss Contingency, Accrual, Noncurrent	[5]	0
Long-term debt, including current portion	[6]	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],[4]	0				0
Net Asset Value [Member] | Fair Value, Measurements, Recurring [Member] | Copper futures and swap contracts [Member]
Derivatives:
Derivative Liability	[2],[4]	0				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]	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]	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]	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]	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]	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]	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]	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]	0				0
Net Asset Value [Member] | Fair Value, Measurements, Recurring [Member] | Embedded derivatives in provisional sales/purchases contracts [Member]
Derivatives:
Derivative assets	[2],[4]	0				0
Net Asset Value [Member] | Fair Value, Measurements, Recurring [Member] | Copper futures and swap contracts [Member]
Derivatives:
Derivative assets	[2],[4]	$ 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 (i) other current assets of $28 million at September 30, 2016, and December 31, 2015, and (ii) other assets of $120 million at September 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]	Refer to Note 7 for further discussion and balance sheet classifications
[5]	Included in accounts payable and accrued liabilities.
[6]	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

1 Months Ended

3 Months Ended

5 Months Ended

6 Months Ended

9 Months Ended

12 Months Ended

Nov. 08, 2016USD ($)shares

May 31, 2016

Sep. 30, 2016USD ($)shares

Jun. 30, 2016USD ($)shares

Jan. 11, 2017

Sep. 30, 2016USD ($)shares

Sep. 30, 2016USD ($)

Sep. 30, 2015USD ($)

Dec. 31, 2015USD ($)

Sep. 30, 2016IDR

May 10, 2016USD ($)

Mar. 31, 2016USD ($)

Dec. 31, 2014USD ($)

Loss Contingencies [Line Items]

Stock Issued During Period, Shares, New Issues | shares

33.5

28

Proceeds from Issuance of Common Stock, Gross

$ 415,000,000

$ 311,000,000

$ 1,500,000,000

$ 2,000,000,000

Gain (Loss) on Contract Termination

(606,000,000)

$ 0

PT Freeport Indonesia [Member]

Loss Contingencies [Line Items]

Assessment By Foreign Government Of Alleged Obligations

231,000,000

231,000,000

231,000,000

Value Added Tax Receivable

$ 269,000,000

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

IDR 3

Income Tax Examination, Penalties Accrued

0

0

0

Royalty Tax [Member] | Cerro Verde [Member]

Loss Contingencies [Line Items]

Loss Contingency, Estimate of Possible Loss

537,000,000

537,000,000

537,000,000

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

Loss Contingencies [Line Items]

Assessment By Foreign Government Of Alleged Obligations

430,000,000

430,000,000

430,000,000

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

Loss Contingencies [Line Items]

Assessment By Foreign Government Of Alleged Obligations

$ 156,000,000

Tax Overpayment

$ 284,000,000

Proceeds from Income Tax Refunds

128,000,000

Disputed Tax Assessments Receivable

152,000,000

152,000,000

152,000,000

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

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

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

Loss Contingencies [Line Items]

Loss Contingency, Accrual, Noncurrent

$ 18,000,000

[1]

$ 18,000,000

[2]

$ 18,000,000

[1]

$ 18,000,000

[1]

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

Subsequent Event [Member]

Loss Contingencies [Line Items]

Stock Issued During Period, Shares, New Issues | shares

26.3

Proceeds from Issuance of Common Stock, Gross

$ 304,000,000

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

Loss Contingencies [Line Items]

Expiration Date, Export Permit

Jan. 11, 2017

[1]

Included in accounts payable and accrued liabilities.

[2]

Recorded at cost except for debt assumed in acquisitions, which were recorded at fair value at the respective acquisition dates.

Business Segments (Unaudited)44

Business Segments (Unaudited) (Details) - USD ($) $ in Millions		May 31, 2016	Sep. 30, 2016		Sep. 30, 2015		Jun. 30, 2016	Sep. 30, 2016		Sep. 30, 2015		May 30, 2016	Dec. 31, 2015
Revenues:
Unaffiliated customers			$ 3,877		$ 3,382			$ 10,453		$ 11,091
Intersegment			0		0			0		0
Production and delivery			2,509		2,595			7,957		7,862
Depreciation, depletion and amortization			643		823			1,937		2,522
Impairment of oil and gas properties			239		3,652			4,317		9,442
Metals inventory adjustments			20		91			27		154
Selling, general and administrative expenses			110		122			408		421
Mining exploration and research expenses			13		26			46		83
Environmental obligations and shutdown (credits) costs			(3)		37			18		61
Net gain on sales of assets			(13)		0			(762)		(39)
Operating income (loss)			359		(3,964)			(3,495)		(9,415)
Interest expense, net			187		157			574		438
Provision for (benefit from) income taxes			(114)		(349)			79		(1,762)
Total Assets			41,400	[1]	50,383	[1]		41,400	[1]	50,383	[1]		$ 46,577
Capital expenditures			494		1,527			2,309		5,055
Assets held for sale			4,663		4,868			4,663		4,868			$ 744
Mining Operations [Member]
Revenues:
Unaffiliated customers			3,450		2,856			9,321		9,496
Intersegment			0		0			0		0
Production and delivery			2,256		2,300			6,395		6,998
Depreciation, depletion and amortization			416		369			1,230		1,046
Impairment of oil and gas properties			0		0			0		0
Metals inventory adjustments			20		91			27		154
Selling, general and administrative expenses			35		35			92		110
Mining exploration and research expenses			13		26			46		83
Environmental obligations and shutdown (credits) costs			(3)		36			17		60
Net gain on sales of assets			1					(748)		(39)
Operating income (loss)			712		(1)			2,262		1,084
Interest expense, net			46		23			137		69
Provision for (benefit from) income taxes			190		23			326		177
Total Assets			36,867		38,200			36,867		38,200
Capital expenditures			333		845			1,233		2,534
North America Copper Mines [Member]
Revenues:
Unaffiliated customers			227		223			567		716
Intersegment			857		946			2,713		3,193
Production and delivery			733		973			2,247		2,867
Depreciation, depletion and amortization			129		136			407		408
Impairment of oil and gas properties			0		0			0		0
Metals inventory adjustments			6		55			6		66
Selling, general and administrative expenses			1		1			4		4
Mining exploration and research expenses			1		1			2		6
Environmental obligations and shutdown (credits) costs			0		3			0		3
Net gain on sales of assets			1					(576)		(39)
Operating income (loss)			213		0			1,190		594
Interest expense, net			1		1			3		3
Provision for (benefit from) income taxes			0		0			0		0
Total Assets			7,421		8,879			7,421		8,879
Capital expenditures			11		94			87		308
Morenci [Member]
Revenues:
Unaffiliated customers			115		165			356		451
Intersegment			358		332			1,119		1,209
Production and delivery			275		357			913		1,117
Depreciation, depletion and amortization			51		51			170		157
Impairment of oil and gas properties			0		0			0		0
Metals inventory adjustments			0		0			0		0
Selling, general and administrative expenses			1		1			2		2
Mining exploration and research expenses			0		0			0		0
Environmental obligations and shutdown (credits) costs			0		0			0		0
Net gain on sales of assets			1					(576)		0
Operating income (loss)			145		88			966		384
Interest expense, net			1		1			2		2
Provision for (benefit from) income taxes			0		0			0		0
Total Assets			2,881		3,720			2,881		3,720
Capital expenditures			6		61			71		224
Other North America Copper Mines [Member]
Revenues:
Unaffiliated customers			112		58			211		265
Intersegment			499		614			1,594		1,984
Production and delivery			458		616	[2]		1,334		1,750	[3]
Depreciation, depletion and amortization			78		85			237		251
Impairment of oil and gas properties			0		0			0		0
Metals inventory adjustments			6		55			6		66
Selling, general and administrative expenses			0		0			2		2
Mining exploration and research expenses			1		1			2		6
Environmental obligations and shutdown (credits) costs			0		3			0		3
Net gain on sales of assets			0					0		(39)
Operating income (loss)			68		(88)			224		210
Interest expense, net			0		0			1		1
Provision for (benefit from) income taxes			0		0			0		0
Total Assets			4,540		5,159			4,540		5,159
Capital expenditures			5		33			16		84
Restructuring Costs and Asset Impairment Charges					(75)					(75)
South America Mines [Member]
Revenues:
Unaffiliated customers			617		425			1,864		1,320
Intersegment			54		13			155		57
Production and delivery			424		344			1,240		1,004
Depreciation, depletion and amortization			134		89			402		236
Impairment of oil and gas properties			0		0			0		0
Metals inventory adjustments			0		0			0		0
Selling, general and administrative expenses			2		1			6		3
Mining exploration and research expenses			0		0			0		0
Environmental obligations and shutdown (credits) costs			0		0			0		0
Net gain on sales of assets			0					0		0
Operating income (loss)			111		4			371		134
Interest expense, net			21		0			63		1
Provision for (benefit from) income taxes			32		2			114		32
Total Assets			10,690		10,979			10,690		10,979
Capital expenditures			39		437			332		1,339
Cerro Verde [Member]
Revenues:
Unaffiliated customers			505		238			1,485		681
Intersegment			54		13			155		64
Production and delivery			333		177			927		540
Depreciation, depletion and amortization			109		57			319		134
Impairment of oil and gas properties			0		0			0		0
Metals inventory adjustments			0		0			0		0
Selling, general and administrative expenses			1		1			5		2
Mining exploration and research expenses			0		0			0		0
Environmental obligations and shutdown (credits) costs			0		0			0		0
Net gain on sales of assets			0					0		0
Operating income (loss)			116		16			389		69
Interest expense, net			21		0			63		1
Provision for (benefit from) income taxes			36		0			126		0
Total Assets			9,139		9,136			9,139		9,136
Capital expenditures			38		421			329		1,296
Other South America Mines [Member]
Revenues:
Unaffiliated customers			112		187			379		639
Intersegment			0		0			0		(7)	[4]
Production and delivery			91		167	[2]		313		464	[3]
Depreciation, depletion and amortization			25		32			83		102
Impairment of oil and gas properties			0		0			0		0
Metals inventory adjustments			0		0			0		0
Selling, general and administrative expenses			1		0			1		1
Mining exploration and research expenses			0		0			0		0
Environmental obligations and shutdown (credits) costs			0		0			0		0
Net gain on sales of assets			0					0		0
Operating income (loss)			(5)		(12)			(18)		65
Interest expense, net			0		0			0		0
Provision for (benefit from) income taxes			(4)		2			(12)		32
Total Assets			1,551		1,843			1,551		1,843
Capital expenditures			1		16			3		43
Restructuring Costs					11					11
Indonesia - Grasberg [Member]
Revenues:
Unaffiliated customers			984	[5]	557	[5]		2,014	[6]	1,969	[6]
Intersegment			2		52			59		37
Production and delivery			478	[2]	417			1,228	[3]	1,311
Depreciation, depletion and amortization			110		90			284		238
Impairment of oil and gas properties			0		0			0		0
Metals inventory adjustments			0		0			0		0
Selling, general and administrative expenses			24		24			60		74
Mining exploration and research expenses			0		0			0		0
Environmental obligations and shutdown (credits) costs			0		0			0		0
Net gain on sales of assets			0					0		0
Operating income (loss)			374		78			501		383
Interest expense, net			0		0			0		0
Provision for (benefit from) income taxes			158		21			212		145
Total Assets			9,830		8,965			9,830		8,965
Capital expenditures			256		222			715		660
Increase (Decrease) in Asset Retirement Obligations			(17)					(17)
Molybdenum mines [Member]
Revenues:
Unaffiliated customers			0		0			0		0
Intersegment			46		83			136		298
Production and delivery			51		83	[2]		147		247	[3]
Depreciation, depletion and amortization			15		26			51		77
Impairment of oil and gas properties			0		0			0		0
Metals inventory adjustments			6		3			12		6
Selling, general and administrative expenses			0		0			0		0
Mining exploration and research expenses			0		0			0		0
Environmental obligations and shutdown (credits) costs			0		0			0		0
Net gain on sales of assets			0					0		0
Operating income (loss)			(26)		(29)			(74)		(32)
Interest expense, net			0		0			0		0
Provision for (benefit from) income taxes			0		0			0		0
Total Assets			1,953		2,017			1,953		2,017
Capital expenditures			1		3			2		10
Restructuring Costs					2					2
Rod & Refining [Member]
Revenues:
Unaffiliated customers			930		946			2,820		3,097
Intersegment			7		5			22		20
Production and delivery			931		946			2,820		3,097
Depreciation, depletion and amortization			2		2			7		7
Impairment of oil and gas properties			0		0			0		0
Metals inventory adjustments			0		0			0		0
Selling, general and administrative expenses			0		0			0		0
Mining exploration and research expenses			0		0			0		0
Environmental obligations and shutdown (credits) costs			0		0			0		0
Net gain on sales of assets			0					0		0
Operating income (loss)			4		3			15		13
Interest expense, net			0		0			0		0
Provision for (benefit from) income taxes			0		0			0		0
Total Assets			238		235			238		235
Capital expenditures			0		1			1		2
Atlantic Copper Smelting & Refining [Member]
Revenues:
Unaffiliated customers			445		438			1,360		1,473
Intersegment			0		1			3		12
Production and delivery			416		410			1,275		1,397
Depreciation, depletion and amortization			7		10			22		29
Impairment of oil and gas properties			0		0			0		0
Metals inventory adjustments			0		0			0		0
Selling, general and administrative expenses			5		4			13		13
Mining exploration and research expenses			0		0			0		0
Environmental obligations and shutdown (credits) costs			0		0			0		0
Net gain on sales of assets			0					0		0
Operating income (loss)			17		15			53		46
Interest expense, net			3		3			11		8
Provision for (benefit from) income taxes			0		0			0		0
Total Assets			565		699			565		699
Capital expenditures			5		10			12		18
Other Mining & Eliminations [Member]
Revenues:
Unaffiliated customers			247	[7]	267	[7]		696	[8]	921	[8]
Intersegment			(966)		(1,100)			(3,088)		(3,617)
Production and delivery			(777)		(873)	[2]		(2,562)		(2,925)	[3]
Depreciation, depletion and amortization			19		16			57		51
Impairment of oil and gas properties			0		0			0		0
Metals inventory adjustments			8		33			9		82
Selling, general and administrative expenses			3		5			9		16
Mining exploration and research expenses			12		25			44		77
Environmental obligations and shutdown (credits) costs			(3)		33			17		57
Net gain on sales of assets			0					(172)		0
Operating income (loss)			19		(72)			206		(54)
Interest expense, net			21		19			60		57
Provision for (benefit from) income taxes			0		0			0		0
Total Assets	[1]		6,170		6,426			6,170		6,426
Capital expenditures			21	[1]	78	[1]		84	[9]	197	[9]
Restructuring Costs					2					2
U.S. Oil & Gas Operations [Member]
Revenues:
Unaffiliated customers			427		525	[10]		1,132		1,594	[11]
Intersegment			0		0			0		0
Production and delivery			231	[12]	293	[12]		1,527	[13]	857	[13]
Depreciation, depletion and amortization			223		450			696		1,465
Impairment of oil and gas properties			238		3,480			4,299		9,270
Metals inventory adjustments			0		0			0		0
Selling, general and administrative expenses			31		37			161	[14]	140
Mining exploration and research expenses			0		0			0		0
Environmental obligations and shutdown (credits) costs			0		0			0		0
Net gain on sales of assets			(7)					(7)		0
Operating income (loss)			(289)		(3,735)			(5,544)		(10,138)
Interest expense, net			102		51			266		129
Provision for (benefit from) income taxes			0		0			0		0
Total Assets			3,462		11,911			3,462		11,911
Capital expenditures			160		635	[15]		1,028	[16]	2,430	[16]
Oil and Gas Drillship settlement/Idle rig costs and inventory write downs			50		21			942		59
Restructuring Costs								38
Corporate, Other & Eliminations [Member]
Revenues:
Unaffiliated customers			0		1			0		1
Intersegment			0		0			0		0
Production and delivery			22	[12]	2	[2]		35	[13]	7	[3]
Depreciation, depletion and amortization			4		4			11		11
Impairment of oil and gas properties			1		172	[17]		18	[18]	172	[18]
Metals inventory adjustments			0		0			0		0
Selling, general and administrative expenses			44		50			155		171
Mining exploration and research expenses			0		0			0		0
Environmental obligations and shutdown (credits) costs			0		1			1		1
Net gain on sales of assets			(7)					(7)		0
Operating income (loss)			(64)		(228)			(213)		(361)
Interest expense, net			39		83			171		240
Provision for (benefit from) income taxes			(304)		(372)			(247)		(1,939)
Total Assets			1,071		272			1,071		272
Capital expenditures			$ 1		47			$ 48		91
Restructuring Costs					2					2
Crude oil and natural gas swaps [Member]
Revenues:
Net mark-to-market gains on derivative contracts					29					87
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			$ 348		61			$ 912		704
Morocco | Corporate, Other & Eliminations [Member]
Revenues:
Capital expenditures	[17]				37			47		81
Discontinued Operations, Held-for-sale [Member] | Other Mining & Eliminations [Member]
Revenues:
Capital expenditures	[17]		$ 15		$ 69			$ 70		$ 166
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]	Includes (i) assets held for sale totaling $4.7 billion at September 30, 2016, and $4.9 billion at September 30, 2015, and (ii) capital expenditures totaling $15 million in third-quarter 2016 and $69 million in third-quarter 2015 associated with discontinued operations. Refer to Note 2 for a summary of the results of discontinued operations.
[2]	Third-quarter 2016 includes asset retirement charges of $17 million at Indonesia mining. Third-quarter 2015 includes asset impairment and restructuring charges totaling $75 million at other North America copper mines, and restructuring charges totaling $11 million at other South America copper mines, $2 million at Molybdenum mines, $2 million at Other Mining & Eliminations and $2 million at Corporate, Other & Eliminations.
[3]	The first nine months of 2016 include asset retirement charges of $17 million at Indonesia mining. The first nine months of 2015 includes asset impairment and restructuring charges totaling $75 million at other North America copper mines, and restructuring charges totaling $11 million at other South America copper mines, $2 million at Molybdenum mines, $2 million at Other Mining & Eliminations and $2 million at Corporate, Other & Eliminations.
[4]	Reflects net reductions for provisional pricing adjustments to prior period open sales. There were no intersegment sales from El Abra for the first nine months of 2015.
[5]	Includes PT-FI’s sales to PT Smelting totaling $348 million in third-quarter 2016 and $61 million in third-quarter 2015.
[6]	Includes PT-FI's sales to PT Smelting totaling $912 million for the first nine months of 2016 and $704 million for the first nine months of 2015.
[7]	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.
[8]	Includes revenues from FCX's molybdenum sales company, which includes sales of molybdenum produced by the Molybdenum mines and by certain of the North and South America copper mines.
[9]	Includes capital expenditures of $70 million for the first nine months of 2016 and $166 million for the first nine months of 2015 associated with discontinued operations. Refer to Note 2 for a summary of the results of discontinued operations.
[10]	Includes net mark-to-market gains of $29 million associated with crude oil derivative contracts.
[11]	Includes net mark-to-market gains of $87 million associated with crude oil derivative contracts.
[12]	Includes net charges for oil and gas operations totaling $50 million in third-quarter 2016 and $21 million in third-quarter 2015, primarily for idle rig costs, inventory adjustments, asset impairments and other net charges.
[13]	Includes charges for oil and gas operations totaling $942 million for the first nine months of 2016 and $59 million for the first nine months of 2015, primarily for drillship settlement/idle rig costs, inventory adjustments, asset impairments and other net charges.
[14]	Includes $38 million for net restructuring-related charges.
[15]	Excludes international oil and gas capital expenditures totaling $37 million, primarily related to the Morocco oil and gas properties, which are included in Corporate, Other & Eliminations.
[16]	Excludes international oil and gas capital expenditures totaling $47 million for the first nine months of 2016 and $81 million for the first nine months of 2015, primarily related to the Morocco oil and gas properties, which are included in Corporate, Other & Eliminations.
[17]	Reflects impairment charges for international oil and gas properties primarily in Morocco.
[18]	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		Sep. 30, 2016		Dec. 31, 2015	Sep. 30, 2015
ASSETS
Current Assets, other than assets held for sale		$ 6,842		$ 6,718
Current assets held for sale		4,663		744	$ 4,868
Property, plant, equipment and mining development costs, net		23,415		24,246
Oil and gas properties, net - full cost method
Subject to amortization, less accumulated amortization and impairment		979		2,262
Not subject to amortization		1,644		4,831
Investments in consolidated subsidiaries		0		0
Other assets		3,857		3,652
Assets held for sale		0		4,124
Total assets		41,400	[1]	46,577	$ 50,383	[1]
LIABILITIES AND EQUITY
Current Liabilities, other than liabilities held for sale		3,667		4,199
Current liabilities held for sale		821		108
Long-term debt, less current portion		18,180		19,779
Deferred income taxes		3,549		3,607
Environmental and asset retirement obligations, less current portion		3,725		3,717
Investments in consolidated subsidiaries		0		0
Other liabilities		1,618		1,641
Liabilities held for sale		0		718
Total liabilities		31,560		33,769
Redeemable noncontrolling interest		774		764
Equity:
Stockholders' equity		4,732		7,828
Noncontrolling interests		4,334		4,216
Total equity		9,066		12,044
Total liabilities and equity		41,400		46,577
FCX Issuer [Member]
ASSETS
Current Assets, other than assets held for sale		320		181
Current assets held for sale		0		0
Property, plant, equipment and mining development costs, net		22		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		20,511		24,311
Other assets		891		5,038
Assets held for sale				0
Total assets		21,744		29,556
LIABILITIES AND EQUITY
Current Liabilities, other than liabilities held for sale		2,697		6,012
Current liabilities held for sale		0		0
Long-term debt, less current portion		13,426		14,735
Deferred income taxes	[2]	845		941
Environmental and asset retirement obligations, less current portion		0		0
Investments in consolidated subsidiaries		0		0
Other liabilities		44		40
Liabilities held for sale				0
Total liabilities		17,012		21,728
Redeemable noncontrolling interest		0		0
Equity:
Stockholders' equity		4,732		7,828
Noncontrolling interests		0		0
Total equity		4,732		7,828
Total liabilities and equity		21,744		29,556
FM O&G LLC Guarantor [Member]
ASSETS
Current Assets, other than assets held for sale		2,463		3,831
Current assets held for sale		0		0
Property, plant, equipment and mining development costs, net		52		57
Oil and gas properties, net - full cost method
Subject to amortization, less accumulated amortization and impairment		266		710
Not subject to amortization		406		1,393
Investments in consolidated subsidiaries		0		0
Other assets		41		1,826
Assets held for sale				0
Total assets		3,228		7,817
LIABILITIES AND EQUITY
Current Liabilities, other than liabilities held for sale		340		666
Current liabilities held for sale		0		0
Long-term debt, less current portion		7,624		5,883
Deferred income taxes		0		0
Environmental and asset retirement obligations, less current portion		352		305
Investments in consolidated subsidiaries		828		0
Other liabilities		3,351		3,360
Liabilities held for sale				0
Total liabilities		12,495		10,214
Redeemable noncontrolling interest		0		0
Equity:
Stockholders' equity		(9,267)		(2,397)
Noncontrolling interests		0		0
Total equity		(9,267)		(2,397)
Total liabilities and equity		3,228		7,817
Non-Guarantor Subsidiaries [Member]
ASSETS
Current Assets, other than assets held for sale		7,914		10,238
Current assets held for sale		4,663		744
Property, plant, equipment and mining development costs, net		23,339		24,163
Oil and gas properties, net - full cost method
Subject to amortization, less accumulated amortization and impairment		712		1,552
Not subject to amortization		1,237		3,432
Investments in consolidated subsidiaries		0		0
Other assets		3,776		3,586
Assets held for sale				4,124
Total assets		41,641		47,839
LIABILITIES AND EQUITY
Current Liabilities, other than liabilities held for sale		4,483		5,047
Current liabilities held for sale		821		108
Long-term debt, less current portion		11,642		11,594
Deferred income taxes		2,704		2,666
Environmental and asset retirement obligations, less current portion		3,373		3,412
Investments in consolidated subsidiaries		9,267		2,397
Other liabilities		1,710		1,732
Liabilities held for sale				718
Total liabilities		34,000		27,674
Redeemable noncontrolling interest		774		764
Equity:
Stockholders' equity		3,108		15,725
Noncontrolling interests		3,759		3,676
Total equity		6,867		19,401
Total liabilities and equity		41,641		47,839
Consolidation, Eliminations [Member]
ASSETS
Current Assets, other than assets held for sale		(3,855)		(7,532)
Current assets held for sale		0		0
Property, plant, equipment and mining development costs, net		2		0
Oil and gas properties, net - full cost method
Subject to amortization, less accumulated amortization and impairment		1		0
Not subject to amortization		1		6
Investments in consolidated subsidiaries		(20,511)		(24,311)
Other assets		(851)		(6,798)
Assets held for sale				0
Total assets		(25,213)		(38,635)
LIABILITIES AND EQUITY
Current Liabilities, other than liabilities held for sale		(3,853)		(7,526)
Current liabilities held for sale		0		0
Long-term debt, less current portion		(14,512)		(12,433)
Deferred income taxes		0		0
Environmental and asset retirement obligations, less current portion		0		0
Investments in consolidated subsidiaries		(10,095)		(2,397)
Other liabilities		(3,487)		(3,491)
Liabilities held for sale				0
Total liabilities		(31,947)		(25,847)
Redeemable noncontrolling interest		0		0
Equity:
Stockholders' equity		6,159		(13,328)
Noncontrolling interests		575		540
Total equity		6,734		(12,788)
Total liabilities and equity		$ (25,213)		$ (38,635)
[1]	Includes (i) assets held for sale totaling $4.7 billion at September 30, 2016, and $4.9 billion at September 30, 2015, and (ii) capital expenditures totaling $15 million in third-quarter 2016 and $69 million in third-quarter 2015 associated with discontinued operations. Refer to Note 2 for a summary of the results of discontinued operations.
[2]	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	9 Months Ended
	Sep. 30, 2016		Sep. 30, 2015		Sep. 30, 2016	Sep. 30, 2016		Sep. 30, 2015
Revenues	$ 3,877		$ 3,382			$ 10,453		$ 11,091
Total costs and expenses	3,518		7,346			13,948		20,506
Operating (loss) income	359		(3,964)			(3,495)		(9,415)
Interest expense, net	(187)		(157)			(574)		(438)
Net gain on early extinguishment of debt	15		0		$ 54	51		0
Other income (expense), net	(10)		(41)			54		2
Income (loss) before income taxes and equity in affiliated companies' net earnings (losses)	177		(4,162)			(3,964)		(9,851)
Benefit from (provision for) income taxes	114		349			(79)		1,762
Equity in affiliated companies' net (losses) earnings	1		(2)			9		(1)
Net income (loss) from continuing operations	292		(3,815)			(4,034)		(8,090)
Net (loss) income from discontinued operations	(6)		25			(191)		95
Net income (loss)	286		(3,790)			(4,225)		(7,995)
Continuing operations	(47)		(24)			(177)		(92)
Net income from discontinued operations attributable to noncontrolling interests	(22)		(16)			(44)		(68)
Net income (loss) attributable to common stockholders	217		(3,830)			(4,446)		(8,155)
Other comprehensive income (loss)	12		14			27		35
Total comprehensive income (loss)	229		(3,816)			(4,419)		(8,120)
Impairment of oil and gas properties	239		3,652			4,317		9,442
FCX Issuer [Member]
Revenues	0		0			0		0
Total costs and expenses	12		12			56		47
Operating (loss) income	(12)		(12)			(56)		(47)
Interest expense, net	(126)		(123)			(404)		(359)
Net gain on early extinguishment of debt	15					51
Other income (expense), net	76		31			197		187
Income (loss) before income taxes and equity in affiliated companies' net earnings (losses)	(47)		(104)			(212)		(219)
Benefit from (provision for) income taxes	343		(1,287)			(1,785)		(1,978)
Equity in affiliated companies' net (losses) earnings	(75)		(2,443)			(2,450)		(5,967)
Net income (loss) from continuing operations	221		(3,834)			(4,447)		(8,164)
Net (loss) income from discontinued operations	(4)		4			1		9
Net income (loss)	217		(3,830)			(4,446)		(8,155)
Continuing operations	0		0			0		0
Net income from discontinued operations attributable to noncontrolling interests	0		0			0		0
Net income (loss) attributable to common stockholders	217		(3,830)			(4,446)		(8,155)
Other comprehensive income (loss)	12		14			27		35
Total comprehensive income (loss)	229		(3,816)			(4,419)		(8,120)
Impairment of oil and gas properties						0		0
FM O&G LLC Guarantor [Member]
Revenues	110		158			294		508
Total costs and expenses	266	[1]	1,874	[2]		2,859	[3]	4,409	[4]
Operating (loss) income	(156)		(1,716)			(2,565)		(3,901)
Interest expense, net	(18)		(1)			(37)		(7)
Net gain on early extinguishment of debt	0					0
Other income (expense), net	0		0			0		0
Income (loss) before income taxes and equity in affiliated companies' net earnings (losses)	(174)		(1,717)			(2,602)		(3,908)
Benefit from (provision for) income taxes	(197)		714			725		1,504
Equity in affiliated companies' net (losses) earnings	(218)		(2,237)			(3,202)		(6,516)
Net income (loss) from continuing operations	(589)		(3,240)			(5,079)		(8,920)
Net (loss) income from discontinued operations	0		0			0		0
Net income (loss)	(589)		(3,240)			(5,079)		(8,920)
Continuing operations	0		0			0		0
Net income from discontinued operations attributable to noncontrolling interests	0		0			0		0
Net income (loss) attributable to common stockholders	(589)		(3,240)			(5,079)		(8,920)
Other comprehensive income (loss)	0		0			0		0
Total comprehensive income (loss)	(589)		(3,240)			(5,079)		(8,920)
Impairment of oil and gas properties	95		1,700			1,531		3,710
Impairment of Oil and Gas Properties rounded						1,500
Non-Guarantor Subsidiaries [Member]
Revenues	3,767		3,224			10,159		10,583
Total costs and expenses	3,239	[1]	5,462	[2]		11,026	[3]	16,065	[4]
Operating (loss) income	528		(2,238)			(867)		(5,482)
Interest expense, net	(132)		(72)			(370)		(182)
Net gain on early extinguishment of debt	0					0
Other income (expense), net	(10)		(36)			59		(85)
Income (loss) before income taxes and equity in affiliated companies' net earnings (losses)	386		(2,346)			(1,178)		(5,749)
Benefit from (provision for) income taxes	(40)		924			979		2,246
Equity in affiliated companies' net (losses) earnings	(589)		(2,445)			(5,072)		(8,947)
Net income (loss) from continuing operations	(243)		(3,867)			(5,271)		(12,450)
Net (loss) income from discontinued operations	10		21			(159)		86
Net income (loss)	(233)		(3,846)			(5,430)		(12,364)
Continuing operations	(24)		(23)			(141)		(65)
Net income from discontinued operations attributable to noncontrolling interests	(22)		(16)			(44)		(68)
Net income (loss) attributable to common stockholders	(279)		(3,885)			(5,615)		(12,497)
Other comprehensive income (loss)	12		14			27		35
Total comprehensive income (loss)	(267)		(3,871)			(5,588)		(12,462)
Impairment of oil and gas properties	200		2,000			2,765		5,684
Consolidation, Eliminations [Member]
Revenues	0		0			0		0
Total costs and expenses	1		(2)			7		(15)
Operating (loss) income	(1)		2			(7)		15
Interest expense, net	89		39			237		110
Net gain on early extinguishment of debt	0					0
Other income (expense), net	(76)		(36)			(202)		(100)
Income (loss) before income taxes and equity in affiliated companies' net earnings (losses)	12		5			28		25
Benefit from (provision for) income taxes	8		(2)			2		(10)
Equity in affiliated companies' net (losses) earnings	883		7,123			10,733		21,429
Net income (loss) from continuing operations	903		7,126			10,763		21,444
Net (loss) income from discontinued operations	(12)		0			(33)		0
Net income (loss)	891		7,126			10,730		21,444
Continuing operations	(23)		(1)			(36)		(27)
Net income from discontinued operations attributable to noncontrolling interests	0		0			0		0
Net income (loss) attributable to common stockholders	868		7,125			10,694		21,417
Other comprehensive income (loss)	(12)		(14)			(27)		(35)
Total comprehensive income (loss)	$ 856		$ 7,111			10,667		21,382
Impairment of oil and gas properties						$ 21		$ 48
[1]	Includes charges totaling $95 million at the FM O&G LLC guarantor and $0.2 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 $1.7 billion at the FM O&G LLC guarantor and $2.0 billion at the non-guarantor subsidiaries related to impairment of FCX's oil and gas properties pursuant to full cost accounting rules.
[3]	Includes charges totaling $1.5 billion at the FM O&G LLC guarantor and $2.8 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 $3.7 billion at the FM O&G LLC guarantor and $5.7 billion at the non-guarantor subsidiaries related to impairment of FCX's oil and gas properties pursuant to full cost accounting rules.

Guarantor Financial Statement48

Guarantor Financial Statements (Unaudited) Condensed Consolidating Statements of Cash Flows (Details) - USD ($) $ in Millions	Jan. 05, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest		$ 286	$ (3,790)	$ (4,225)	$ (7,995)
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation, Depletion and Amortization				2,017	2,717
Impairment of oil and gas properties		239	3,652	4,317	9,442
Net gains on crude oil derivative contracts				0	(87)
Equity in losses (earnings) of consolidated subsidiaries				(9)	1
Other, net				31	(1,812)
Changes in working capital and other tax payments, excluding amounts from dispositions				463	342
Net cash provided by operating activities				2,594	2,608
Cash flow from investing activities:
Capital expenditures		(494)	(1,527)	(2,309)	(5,055)
Intercompany loans				0	0
Dividends from (investments in) consolidated subsidiaries				0	(2)
Asset sales and other, net				1,415	116
Net cash provided by (used in) investing activities				(894)	(4,941)
Cash flow from financing activities:
Proceeds from debt				3,463	6,552
Repayments of debt				(4,539)	(4,693)
Intercompany loans				0	0
Net proceeds from sale of common stock	$ 1,970	411		442	999
Cash dividends and distributions paid, and contributions received, net				(92)	(636)
Other, net				(22)	(15)
Net cash (used in) provided by financing activities				(748)	2,207
Net increase (decrease) in cash and cash equivalents				952	(126)
(Increase) decrease in cash and cash equivalents in assets held for sale				(39)	42
Cash and cash equivalents at beginning of year	195			195	317
Cash and cash equivalents at end of period		1,108	233	1,108	233
FCX Issuer [Member]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest		217	(3,830)	(4,446)	(8,155)
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation, Depletion and Amortization				4	3
Impairment of oil and gas properties				0	0
Net gains on crude oil derivative contracts					0
Equity in losses (earnings) of consolidated subsidiaries				2,450	5,967
Other, net				(116)	(1,953)
Changes in working capital and other tax payments, excluding amounts from dispositions				1,844	4,001
Net cash provided by operating activities				(264)	(137)
Cash flow from investing activities:
Capital expenditures				0	(7)
Intercompany loans				(1,021)	(1,310)
Dividends from (investments in) consolidated subsidiaries				1,643	693
Asset sales and other, net				0	(21)
Net cash provided by (used in) investing activities				622	(645)
Cash flow from financing activities:
Proceeds from debt				1,721	3,893
Repayments of debt				(2,498)	(3,550)
Intercompany loans				0	0
Net proceeds from sale of common stock				442	999
Cash dividends and distributions paid, and contributions received, net				(5)	(547)
Other, net				(18)	(13)
Net cash (used in) provided by financing activities				(358)	782
Net increase (decrease) in cash and cash equivalents				0	0
(Increase) decrease 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		(589)	(3,240)	(5,079)	(8,920)
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation, Depletion and Amortization				146	303
Impairment of oil and gas properties		95	1,700	1,531	3,710
Net gains on crude oil derivative contracts					(87)
Equity in losses (earnings) of consolidated subsidiaries				3,202	6,516
Other, net				575	2
Changes in working capital and other tax payments, excluding amounts from dispositions				(669)	(1,213)
Net cash provided by operating activities				(294)	311
Cash flow from investing activities:
Capital expenditures				(497)	(959)
Intercompany loans				(518)	(955)
Dividends from (investments in) consolidated subsidiaries				(41)	(49)
Asset sales and other, net				208	(2)
Net cash provided by (used in) investing activities				(848)	(1,965)
Cash flow from financing activities:
Proceeds from debt				0	0
Repayments of debt				0	0
Intercompany loans				1,223	1,708
Net proceeds from sale of common stock				0	0
Cash dividends and distributions paid, and contributions received, net				(78)	(17)
Other, net				(2)	(37)
Net cash (used in) provided by financing activities				1,143	1,654
Net increase (decrease) in cash and cash equivalents				1	0
(Increase) decrease 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		1	1	1	1
Non-Guarantor Subsidiaries [Member]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest		(233)	(3,846)	(5,430)	(12,364)
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation, Depletion and Amortization				1,882	2,474
Impairment of oil and gas properties		200	2,000	2,765	5,684
Net gains on crude oil derivative contracts					0
Equity in losses (earnings) of consolidated subsidiaries				5,072	8,947
Other, net				(424)	139
Changes in working capital and other tax payments, excluding amounts from dispositions				(714)	(2,457)
Net cash provided by operating activities				3,151	2,423
Cash flow from investing activities:
Capital expenditures				(1,814)	(4,079)
Intercompany loans				0	0
Dividends from (investments in) consolidated subsidiaries				124	102
Asset sales and other, net				1,210	118
Net cash provided by (used in) investing activities				(480)	(3,859)
Cash flow from financing activities:
Proceeds from debt				1,742	2,659
Repayments of debt				(2,041)	(1,143)
Intercompany loans				316	557
Net proceeds from sale of common stock				374	0
Cash dividends and distributions paid, and contributions received, net				(2,096)	(749)
Other, net				(15)	(14)
Net cash (used in) provided by financing activities				(1,720)	1,310
Net increase (decrease) in cash and cash equivalents				951	(126)
(Increase) decrease in cash and cash equivalents in assets held for sale				(39)	42
Cash and cash equivalents at beginning of year	195			195	316
Cash and cash equivalents at end of period		1,107	232	1,107	232
Consolidation, Eliminations [Member]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest		891	7,126	10,730	21,444
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation, Depletion and Amortization				(15)	(63)
Impairment of oil and gas properties				21	48
Net gains on crude oil derivative contracts					0
Equity in losses (earnings) of consolidated subsidiaries				(10,733)	(21,429)
Other, net				(4)	0
Changes in working capital and other tax payments, excluding amounts from dispositions				2	11
Net cash provided by operating activities				1	11
Cash flow from investing activities:
Capital expenditures				2	(10)
Intercompany loans				1,539	2,265
Dividends from (investments in) consolidated subsidiaries				(1,726)	(748)
Asset sales and other, net				(3)	21
Net cash provided by (used in) investing activities				(188)	1,528
Cash flow from financing activities:
Proceeds from debt				0	0
Repayments of debt				0	0
Intercompany loans				(1,539)	(2,265)
Net proceeds from sale of common stock				(374)	0
Cash dividends and distributions paid, and contributions received, net				2,087	677
Other, net				13	49
Net cash (used in) provided by financing activities				187	(1,539)
Net increase (decrease) in cash and cash equivalents				0	0
(Increase) decrease 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