Freeport-McMoRan (FCX) 10-K 24 Feb 17 2016 FY Annual report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2016	Feb. 15, 2017	Jun. 30, 2016
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			$ 14.6
Entity Common Stock, Shares Outstanding		1,445,380,168
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2016

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	1 Months Ended	3 Months Ended								12 Months Ended
	Feb. 29, 2012	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Statement [Abstract]
Revenues		$ 4,377	$ 3,877	$ 3,334	$ 3,242	$ 3,516	$ 3,382	$ 3,938	$ 3,771	$ 14,830	$ 14,607	$ 20,001
Cost of sales:
Production and delivery										10,697	10,693	11,116
Depreciation, depletion and amortization										2,530	3,240	3,635
Impairment of Oil and Gas Properties			239	291	3,800	3,700	3,700	2,700	3,100	4,317	13,144	3,737
Metals inventory adjustments		9	20	2	5	184	91	59	4	36	338	6
Total cost of sales										17,580	27,415	18,494
Selling, general and administrative expenses										607	558	580
Mining exploration and research expenses										64	107	106
Environmental obligations and shutdown costs										20	78	119
Goodwill impairment										0	0	1,717
Net gain on sales of assets		113		(13)	(749)				(39)	(649)	(39)	(717)
Total costs and expenses										17,622	28,119	20,299
Operating loss		703	359	18	(3,872)	(4,097)	(3,964)	(2,421)	(3,030)	(2,792)	(13,512)	(298)
Interest expense, net										(755)	(617)	(606)
Net gain on exchanges and early extinguishment of debt										26	0	73
Other income, net										49	1	31
Loss from continuing operations before income taxes and equity in affiliated companies' net earnings (losses)										(3,472)	(14,128)	(800)
(Provision for) benefit from income taxes										(371)	1,951	(225)
Equity in affiliated companies’ net earnings (losses)										11	(3)	3
Net loss from continuing operations		202	292	(229)	(4,097)	(4,090)	(3,815)	(1,828)	(2,447)	(3,832)	(12,180)	(1,022)
Net (loss) income from discontinued operations		(2)	(6)	(181)	(4)	(4)	25	29	41	(193)	91	277
Net loss		200	286	(410)	(4,101)	(4,094)	(3,790)	(1,799)	(2,406)	(4,025)	(12,089)	(745)
Net income attributable to noncontrolling interests: Continuing Operations										(227)	(27)	(358)
Net income attributable to noncontrolling interests: Discontinued Operations		(19)	(22)	(12)	(10)	(11)	(16)	(26)	(26)	(63)	(79)	(165)
Gain on redemption and preferred dividends attributable to redeemable noncontrolling interest										161	(41)	(40)
Net loss attributable to common stockholders		$ 292	$ 217	$ (479)	$ (4,184)	$ (4,081)	$ (3,830)	$ (1,851)	$ (2,474)	$ (4,154)	$ (12,236)	$ (1,308)
Basic and diluted net (loss) income per share attributable to common stockholders:
Continuing operations (in dollars per share)		$ 0.22	$ 0.18	$ (0.23)	$ (3.34)	$ (3.46)	$ (3.59)	$ (1.78)	$ (2.40)	$ (2.96)	$ (11.32)	$ (1.37)
Discontinued operations (in dollars per share)		(0.01)	(0.02)	(0.15)	(0.01)	(0.01)	0.01	0	0.02	(0.20)	0.01	0.11
Earnings per share, basic and diluted (in dollars per share)		$ 0.21	$ 0.16	$ (0.38)	$ (3.35)	$ (3.47)	$ (3.58)	$ (1.78)	(2.38)	$ (3.16)	$ (11.31)	$ (1.26)
Basic and diluted weighted-average shares of common stock outstanding (in shares)										1,318	1,082	1,039
Dividends declared per share of common stock (in dollars per share)	$ 1.25								$ 0.20	$ 0	$ 0.2605	$ 1.25

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Statement of Comprehensive Income [Abstract]
Net loss	$ (4,025)	$ (12,089)	$ (745)
Defined benefit plans:
Actuarial losses arising during the period	(88)	(5)	(166)
Amortization of unrecognized amounts included in net periodic benefit costs	44	38	25
Foreign exchange (losses) gains	(1)	8	1
Unrealized gains (losses) on securities	2	0	(1)
Other comprehensive (loss) income	(43)	41	(141)
Total comprehensive loss	(4,068)	(12,048)	(886)
Total comprehensive income attributable to noncontrolling interests	(292)	(106)	(521)
Gain on redemption and preferred dividends attributable to noncontrolling interests	161	(41)	(40)
Total comprehensive loss attributable to common stockholders	$ (4,199)	$ (12,195)	$ (1,447)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash flow from operating activities:
Net loss	$ (4,025)	$ (12,089)	$ (745)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, depletion and amortization	2,610	3,497	3,863
Impairment of Oil and Gas Properties and Goodwill	4,317	13,144	5,454
Non-cash oil and gas drillship settlements	689	0	0
Metals inventory adjustments	36	338	6
Other asset impairments, oil and gas inventory adjustments, and restructuring	134	256	18
Net gain on sales of assets	(649)	(39)	(717)
Stock-based compensation	86	85	106
Net charges for environmental and asset retirement obligations, including accretion	191	209	200
Payments for environmental and asset retirement obligations	242	198	176
Net gain on exchanges and early extinguishment of debt	(26)	0	(73)
Deferred income taxes	239	(2,039)	(929)
Loss on disposal of discontinued operations	(198)	0	0
Decrease (increase) in long-term mill and leach stockpiles	10	(212)	(233)
Gain (Loss) on Derivative Instruments, Net, Pretax	(35)	87	504
Other Operating Activities, Cash Flow Statement	69	(18)	(7)
Changes in working capital and other tax payments, excluding amounts from acquisitions and dispositions:
Accounts receivable	(175)	813	215
Inventories	117	379	(249)
Other current assets	37	97	0
Accounts payable and accrued liabilities	(28)	(217)	(394)
Accrued income taxes and changes in other tax payments	106	(699)	(204)
Net cash provided by operating activities	3,729	3,220	5,631
Cash flow from investing activities:
Capital expenditures	(2,813)	(6,353)	(7,215)
Proceeds from sales of:
Other assets	423	160	0
Acquisitions of Deepwater Gulf of Mexico interests	0	0	(1,426)
Other, net	8	(53)	221
Net cash provided by (used in) investing activities	3,550	(6,246)	(3,801)
Cash flow from financing activities:
Proceeds from debt	3,681	8,272	8,710
Repayments of debt	(7,625)	(6,677)	(10,306)
Net proceeds from sale of common stock	1,515	1,936	0
Cash dividends and distributions paid:
Common stock	(6)	(605)	(1,305)
Noncontrolling interests, including redemption	(693)	(120)	(424)
Stock-based awards net (payments) proceeds, including excess tax benefit	(6)	(4)	9
Debt financing costs and other, net	(32)	(16)	(35)
Net cash (used in) provided by financing activities	(3,166)	2,786	(3,351)
Net increase (decrease) in cash and cash equivalents	4,113	(240)	(1,521)
(Increase) decrease in cash and cash equivalents in assets held for sale	(45)	119	(45)
Cash and cash equivalents at beginning of year	177	298	1,864
Cash and cash equivalents at end of year	4,245	177	298
Tenke Fungurume mine
Proceeds from sales of:
Proceeds from sales	2,664	0	0
Deepwater Gulf of Mexico and onshore California oil and gas properties
Proceeds from sales of:
Proceeds from sales	2,272	0	0
Morenci
Proceeds from sales of:
Proceeds from sales	996	0	0
Eagle Ford shale assets
Proceeds from sales of:
Proceeds from sales	0	0	2,910
Candelaria and Ojos del Salado mines
Proceeds from sales of:
Proceeds from sales	0	0	1,709
North America copper mines
Cash flow from investing activities:
Capital expenditures	(102)	(355)	(969)
South America
Cash flow from investing activities:
Capital expenditures	(382)	(1,722)	(1,785)
Indonesia
Cash flow from investing activities:
Capital expenditures	(1,025)	(901)	(935)
Molybdenum mines
Cash flow from investing activities:
Capital expenditures	(2)	(13)	(54)
United States oil and gas operations
Cash flow from investing activities:
Capital expenditures	(1,127)	(2,948)	(3,205)
Other
Cash flow from investing activities:
Capital expenditures	$ (175)	$ (414)	$ (267)

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 4,245	$ 177
Trade accounts receivable	1,126	645
Income and other tax receivables	879	1,332
Other accounts receivable	89	152
Inventories:
Total materials and supplies, net	1,306	1,575
Mill and leach stockpiles	1,338	1,539
Product	998	961
Other current assets	110	161
Assets held for sale	344	920
Total current assets	10,435	7,462
Property, plant, equipment and mine development costs, net	23,219	23,986
Oil and gas properties, net - full cost method:
Subject to amortization, less accumulated amortization and impairment of $27,433 and $22,276, respectively	74	2,262
Not subject to amortization	0	4,831
Long-term mill and leach stockpiles	1,633	1,663
Other assets	1,956	1,987
Assets held for sale	0	4,386
Total assets	37,317	46,577
Current liabilities:
Accounts payable and accrued liabilities	2,393	3,232
Current portion of debt	1,232	649
Current portion of environmental and asset retirement obligations	369	272
Accrued income taxes	66	23
Liabilities held for sale	205	131
Total current liabilities	4,265	4,307
Long-term debt, less current portion	14,795	19,675
Deferred income taxes	3,768	3,567
Environmental and asset retirement obligations, less current portion	3,487	3,714
Other liabilities	1,745	1,641
Liabilities held for sale	0	865
Total liabilities	28,060	33,769
Redeemable noncontrolling interest	0	764
Stockholders’ equity:
Common stock, par value $0.10, 1,574 shares and 1,374 shares issued, respectively	157	137
Capital in excess of par value	26,690	24,283
Accumulated deficit	(16,540)	(12,387)
Accumulated other comprehensive loss	(548)	(503)
Common stock held in treasury – 129 shares and 128 shares, respectively, at cost	(3,708)	(3,702)
Total stockholders’ equity	6,051	7,828
Noncontrolling interests	3,206	4,216
Total equity	9,257	12,044
Total liabilities and equity	$ 37,317	$ 46,577

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Millions, $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Oil and gas properties, net - full cost method:
Accumulated amortization	$ 27,433	$ 22,276
Stockholders’ equity:
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares issued (in shares)	1,574	1,374
Common stock hold in treasury (in shares)	129	128

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Capital in Excess of Par Value	(Accumulated Deficit) Retained Earnings	Accumulated Other Comprehensive Loss	Common Stock Held in Treasury	Total Stockholders’ Equity	Noncontrolling Interests
Balance (in shares) at Dec. 31, 2013		1,165				127
Balance at Dec. 31, 2013	$ 25,231	$ 117	$ 22,161	$ 2,742	$ (405)	$ (3,681)	$ 20,934	$ 4,297
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercised and issued stock-based awards (in shares)		2
Exercised and issued stock-based awards	12		12				12
Stock-based compensation, including tax benefit and the tender of shares	96		109			$ (14)	95	1
Stock-based compensation, including tax benefit and the tender of shares (in shares)						1
Dividends	(1,702)			(1,306)			(1,306)	(396)
Changes in noncontrolling interests	6		(1)				(1)	7
Sale of Candelaria and Ojos del Salado mines	(243)							(243)
Net loss attributable to common stockholders	(1,308)			(1,308)			(1,308)
Net income attributable to noncontrolling interests, including discontinued operations	523							523
Other comprehensive (loss) income	(141)				(139)		(139)	(2)
Balance (in shares) at Dec. 31, 2014		1,167				128
Balance at Dec. 31, 2014	22,474	$ 117	22,281	128	(544)	$ (3,695)	18,287	4,187
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock Issued During Period, Shares, New Issues		205.7
Issuance of common stock	1,936	$ 20	1,916				1,936
Exercised and issued stock-based awards (in shares)		1
Exercised and issued stock-based awards	3		3				3
Stock-based compensation, including tax benefit and the tender of shares	90		90			$ (7)	83	7
Dividends	(370)			(279)			(279)	(91)
Changes in noncontrolling interests	0		(7)				(7)	7
Net loss attributable to common stockholders	(12,236)			(12,236)			(12,236)
Net income attributable to noncontrolling interests, including discontinued operations	106							106
Other comprehensive (loss) income	41				41		41
Balance (in shares) at Dec. 31, 2015		1,374				128
Balance at Dec. 31, 2015	12,044	$ 137	24,283	(12,387)	(503)	$ (3,702)	7,828	4,216
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock Issued During Period, Shares, New Issues		197
Issuance of common stock	2,366	$ 20	2,346				2,366
Exercised and issued stock-based awards (in shares)		3
Exercised and issued stock-based awards	0
Stock-based compensation, including tax benefit and the tender of shares	55		61			$ (6)	55
Stock-based compensation, including tax benefit and the tender of shares (in shares)						1
Dividends	(89)			1			1	(90)
Changes in noncontrolling interests	(6)							(6)
Sale of Candelaria and Ojos del Salado mines	(1,206)							(1,206)
Net loss attributable to common stockholders	(4,154)			(4,154)			(4,154)
Net income attributable to noncontrolling interests, including discontinued operations	290							290
Other comprehensive (loss) income	(43)				(45)		(45)	2
Balance (in shares) at Dec. 31, 2016		1,574				129
Balance at Dec. 31, 2016	$ 9,257	$ 157	$ 26,690	$ (16,540)	$ (548)	$ (3,708)	$ 6,051	$ 3,206

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Notes)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation. The consolidated financial statements of Freeport-McMoRan Inc. (FCX) include the accounts of those subsidiaries where it directly or indirectly has more than 50 percent of the voting rights and has the right to control significant management decisions. The most significant entities that FCX consolidates include its 90.64 percent -owned subsidiary PT Freeport Indonesia (PT-FI), and the following wholly owned subsidiaries: Freeport Minerals Corporation (FMC), Atlantic Copper, S.L.U. (Atlantic Copper) and FCX Oil & Gas LLC (FM O&G, formerly FCX Oil & Gas Inc.). FCX acquired mining assets in North America, South America and Africa when it acquired Phelps Dodge Corporation (now known as FMC) in 2007. FCX acquired oil and gas operations when it acquired Plains Exploration & Production Company (PXP) and McMoRan Exploration Co. (MMR), collectively known as FM O&G, in 2013. During 2014 and 2016, FCX completed sales of certain of its operating assets. Refer to Note 2 for further discussion. FCX’s unincorporated joint ventures with Rio Tinto plc (Rio Tinto), Sumitomo Metal Mining Arizona, Inc. (Sumitomo) and SMM Morenci, Inc. (an affiliate of Sumitomo Metal Mining Co., Ltd.) are reflected using the proportionate consolidation method (refer to Note 3 for further discussion). Investments in unconsolidated companies owned 20 percent or more are recorded using the equity method. Investments in companies owned less than 20 percent , and for which FCX does not exercise significant influence, are carried at cost. All significant intercompany transactions have been eliminated. Dollar amounts in tables are stated in millions, except per share amounts. 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. FCX's reportable segments include the Morenci, Cerro Verde and Grasberg copper mines, the Rod & Refining operations and the United States (U.S.) Oil & Gas operations. Refer to Note 16 for further discussion. Use of Estimates. The preparation of FCX’s financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the amounts reported in these financial statements and accompanying notes. The more significant areas requiring the use of management estimates include reserve estimation (minerals, and oil and natural gas); timing of transfers of oil and gas properties not subject to amortization into the full cost pool; asset lives for depreciation, depletion and amortization; environmental obligations; asset retirement obligations; estimates of recoverable copper in mill and leach stockpiles; deferred taxes and valuation allowances; reserves for contingencies and litigation; asset impairment, including estimates used to derive future cash flows associated with those assets; pension benefits; and valuation of derivative instruments. Actual results could differ from those estimates. Functional Currency. The functional currency for the majority of FCX's foreign operations is the U.S. dollar. For foreign subsidiaries whose functional currency is the U.S. dollar, monetary assets and liabilities denominated in the local currency are translated at current exchange rates, and non-monetary assets and liabilities, such as inventories, property, plant, equipment and mine development costs, are translated at historical rates. Gains and losses resulting from translation of such account balances are included in other income (expense), as are gains and losses from foreign currency transactions. Foreign currency gains (losses) totaled $32 million in 2016 , $(90) million in 2015 and $(2) million in 2014 . Cash Equivalents. Highly liquid investments purchased with maturities of three months or less are considered cash equivalents. Inventories. Inventories include mill and leach stockpiles, materials and supplies, and product inventories. Beginning in third-quarter 2015 because of the adoption of new accounting guidance, inventories are stated at the lower of weighted-average cost or net realizable value (NRV). Mill and Leach Stockpiles. Mill and leach stockpiles are work-in-process inventories for FCX's mining operations. Mill and leach stockpiles have been extracted from an ore body and are available for copper recovery. Mill stockpiles contain sulfide ores and recovery of metal is through milling, concentrating and smelting and refining or, alternatively, by concentrate leaching. Leach stockpiles contain oxide ores and certain secondary sulfide ores and recovery of metal is through exposure to acidic solutions that dissolve contained copper and deliver it in solution to extraction processing facilities ( i.e., solution extraction and electrowinning (SX/EW)). The recorded cost of mill and leach stockpiles includes mining and haulage costs incurred to deliver ore to stockpiles, depreciation, depletion, amortization and site overhead costs. Material is removed from the stockpiles at a weighted-average cost per pound. Because it is generally impracticable to determine copper contained in mill and leach stockpiles by physical count, reasonable estimation methods are employed. The quantity of material delivered to mill and leach stockpiles is based on surveyed volumes of mined material and daily production records. Sampling and assaying of blasthole cuttings determine the estimated copper grade of the material delivered to mill and leach stockpiles. Expected copper recovery rates for mill stockpiles are determined by metallurgical testing. The recoverable copper in mill stockpiles, once entered into the production process, can be produced into copper concentrate almost immediately. Expected copper recovery rates for leach stockpiles are determined using small-scale laboratory tests, small- to large-scale column testing (which simulates the production process), historical trends and other factors, including mineralogy of the ore and rock type. Total copper recovery in leach stockpiles can vary significantly from a low percentage to more than 90 percent depending on several variables, including processing methodology, processing variables, mineralogy and particle size of the rock. For newly placed material on active stockpiles, as much as 80 percent of the total copper recovery may occur during the first year, and the remaining copper may be recovered over many years. Processes and recovery rates for mill and leach stockpiles are monitored regularly, and recovery rate estimates are adjusted periodically as additional information becomes available and as related technology changes. Adjustments to recovery rates will typically result in a future impact to the value of the material removed from the stockpiles at a revised weighted-average cost per pound of recoverable copper. Product Inventories. Product inventories include raw materials, work-in-process and finished goods. Raw materials are primarily unprocessed concentrate at Atlantic Copper's smelting and refining operations. Work-in-process inventories are primarily copper concentrate at various stages of conversion into anode and cathode at Atlantic Copper's operations. Atlantic Copper’s in-process inventories are valued at the weighted-average cost of the material fed to the smelting and refining process plus in-process conversion costs. Finished goods for mining operations represent salable products ( e.g. , copper and molybdenum concentrate, copper anode, copper cathode, copper rod, copper wire, molybdenum oxide, and high-purity molybdenum chemicals and other metallurgical products). Finished goods are valued based on the weighted-average cost of source material plus applicable conversion costs relating to associated process facilities. Costs of finished goods and work-in-process ( i.e. , not raw materials) inventories include labor and benefits, supplies, energy, depreciation, depletion, amortization, site overhead costs and other necessary costs associated with the extraction and processing of ore, including, depending on the process, mining, haulage, milling, concentrating, smelting, leaching, solution extraction, refining, roasting and chemical processing. Corporate general and administrative costs are not included in inventory costs. Property, Plant, Equipment and Mine Development Costs. Property, plant, equipment and mine development costs are carried at cost. Mineral exploration costs, as well as drilling and other costs incurred for the purpose of converting mineral resources to proven and probable reserves or identifying new mineral resources at development or production stage properties, are charged to expense as incurred. Development costs are capitalized beginning after proven and probable mineral reserves have been established. Development costs include costs incurred resulting from mine pre-production activities undertaken to gain access to proven and probable reserves, including shafts, adits, drifts, ramps, permanent excavations, infrastructure and removal of overburden. Additionally, interest expense allocable to the cost of developing mining properties and to constructing new facilities is capitalized until assets are ready for their intended use. Expenditures for replacements and improvements are capitalized. Costs related to periodic scheduled maintenance ( i.e. , turnarounds) are charged to expense as incurred. Depreciation for mining and milling life-of-mine assets, infrastructure and other common costs is determined using the unit-of-production (UOP) method based on total estimated recoverable proven and probable copper reserves (for primary copper mines) and proven and probable molybdenum reserves (for primary molybdenum mines). Development costs and acquisition costs for proven and probable mineral reserves that relate to a specific ore body are depreciated using the UOP method based on estimated recoverable proven and probable mineral reserves for the ore body benefited. Depreciation, depletion and amortization using the UOP method is recorded upon extraction of the recoverable copper or molybdenum from the ore body, at which time it is allocated to inventory cost and then included as a component of cost of goods sold. Other assets are depreciated on a straight-line basis over estimated useful lives of up to 39 years for buildings and three to 30 years for machinery and equipment, and mobile equipment. Included in property, plant, equipment and mine development costs is value beyond proven and probable mineral reserves (VBPP), primarily resulting from FCX’s acquisition of FMC in 2007. The concept of VBPP may be interpreted differently by different mining companies. FCX’s VBPP is attributable to (i) mineralized material, which includes measured and indicated amounts, that FCX believes could be brought into production with the establishment or modification of required permits and should market conditions and technical assessments warrant, (ii) inferred mineral resources and (iii) exploration potential. Carrying amounts assigned to VBPP are not charged to expense until the VBPP becomes associated with additional proven and probable mineral reserves and the reserves are produced or the VBPP is determined to be impaired. Additions to proven and probable mineral reserves for properties with VBPP will carry with them the value assigned to VBPP at the date acquired, less any impairment amounts. Refer to Note 5 for further discussion. Impairment of Long-Lived Mining Assets. FCX assesses the carrying values of its long-lived mining assets for impairment when events or changes in circumstances indicate that the related carrying amounts of such assets may not be recoverable. In evaluating long-lived mining assets for recoverability, estimates of pre-tax undiscounted future cash flows of FCX’s individual mines are used. An impairment is considered to exist if total estimated undiscounted future cash flows are less than the carrying amount of the asset. Once it is determined that an impairment exists, an impairment loss is measured as the amount by which the asset carrying value exceeds its fair value. The estimated undiscounted cash flows used to assess recoverability of long-lived assets and to measure the fair value of FCX’s mining operations are derived from current business plans, which are developed using near-term price forecasts reflective of the current price environment and management’s projections for long-term average metal prices. In addition to near- and long-term metal price assumptions, other key assumptions include estimates of commodity-based and other input costs; proven and probable mineral reserves estimates, including the timing and cost to develop and produce the reserves; VBPP estimates; and the use of appropriate discount rates. FCX believes its estimates and models used to determine fair value are similar to what a market participant would use. As quoted market prices are unavailable for FCX’s individual mining operations, fair value is determined through the use of after-tax discounted estimated future cash flows ( i.e. , Level 3 measurement). Oil and Gas Properties. FCX follows the full cost method of accounting specified by the U.S. Securities and Exchange Commission's (SEC) rules whereby all costs associated with oil and gas property acquisition, exploration and development activities are capitalized into a cost center on a country-by-country basis. Such costs include internal general and administrative costs, such as payroll and related benefits and costs directly attributable to employees engaged in acquisition, exploration and development activities. General and administrative costs associated with production, operations, marketing and general corporate activities are charged to expense as incurred. Capitalized costs, along with estimated future costs to develop proved reserves and asset retirement costs that are not already included in oil and gas properties, net of related salvage value, are amortized to expense under the UOP method using engineers' estimates of the related, by-country proved oil and natural gas reserves. The costs of unproved oil and gas properties are excluded from amortization until the properties are evaluated. Costs are transferred into the amortization base on an ongoing basis as the properties are evaluated and proved oil and natural gas reserves are established or if impairment is determined. Unproved oil and gas properties are assessed periodically, at least annually, to determine whether impairment has occurred. FCX assesses unproved oil and gas properties for impairment on an individual basis or as a group if properties are individually insignificant. The assessment considers the following factors, among others: intent to drill, remaining lease term, geological and geophysical evaluations, drilling results and activity, the assignment of proved reserves, the economic viability of development if proved reserves are assigned and other current market conditions. During any period in which these factors indicate an impairment, the cumulative drilling costs incurred to date for such property and all or a portion of the associated leasehold costs are transferred to the full cost pool and are then subject to amortization. Including amounts determined to be impaired, FCX transferred $4.9 billion of costs associated with unevaluated properties to the full cost pool in 2016 , $6.4 billion in 2015 and $2.5 billion in 2014 . The transfer of costs into the amortization base involves a significant amount of judgment and may be subject to changes over time based on drilling plans and results, geological and geophysical evaluations, the assignment of proved oil and natural gas reserves, availability of capital and other factors. Costs not subject to amortization consist primarily of capitalized costs incurred for undeveloped acreage and wells in progress pending determination, together with capitalized interest for these projects. The ultimate evaluation of the properties occurs over a period of several years. Following the completion of the sales of oil and gas properties discussed in Note 2, FCX had no unproved oil and gas properties in the consolidated balance sheets at December 31, 2016. Interest costs totaling $7 million in 2016 , $58 million in 2015 and $88 million in 2014 were capitalized on oil and gas properties not subject to amortization and in the process of development. Proceeds from the sale of oil and gas properties are accounted for as reductions to capitalized costs unless the reduction causes a significant change in proved reserves, which absent other factors, is generally described as a 25 percent or greater change, and significantly alters the relationship between capitalized costs and proved reserves attributable to a cost center, in which case a gain or loss is recognized. Impairment of Oil and Gas Properties. Under the 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 natural gas reserves, net of estimated future income taxes; plus • the cost of the related unproved properties not being amortized; plus • the lower of cost or estimated fair value of the related unproved properties included in the costs being amortized (net of related tax effects). These rules require that FCX price its future oil and gas production at the twelve-month average of the first-day-of-the-month historical reference prices as adjusted for location and quality differentials. FCX's reference prices are West Texas Intermediate (WTI) for oil and the Henry Hub price for natural gas. Such prices are utilized except where different prices are fixed and determinable from applicable contracts for the remaining term of those contracts. The reserve estimates exclude the effect of any crude oil and natural gas derivatives FCX has in place. The estimated future net cash flows also exclude future cash outflows associated with settling asset retirement obligations included in the net book value of the oil and gas properties. The rules require an impairment if the capitalized costs exceed this “ceiling.” In 2016, 2015 and 2014, net capitalized costs with respect to FCX's proved oil and gas properties exceeded the related ceiling test limitation; therefore, impairment charges of $4.3 billion were recorded in 2016 , $13.1 billion in 2015 and $3.7 billion in 2014, primarily because of the lower twelve-month average of the first-day-of-the-month historical reference oil price and reserve revisions. The twelve-month average WTI reference oil price was $42.75 per barrel at December 31, 2016 , compared with $50.28 per barrel at December 31, 2015 , and $94.99 per barrel at December 31, 2014 . Goodwill. Goodwill has an indefinite useful life and is not amortized, but rather is tested for impairment at least annually during the fourth quarter, unless events occur or circumstances change between annual tests that would more likely than not reduce the fair value of a related reporting unit below its carrying value. Impairment occurs when the carrying amount of goodwill exceeds its implied fair value. FCX generally uses a discounted cash flow model to determine if the carrying value of a reporting unit, including goodwill, is less than the fair value of the reporting unit. FCX's approach to allocating goodwill includes the identification of the reporting unit it believes has contributed to the excess purchase price and includes consideration of the reporting unit's potential for future growth. Goodwill of $1.9 billion arose in 2013 with FCX's acquisitions of PXP and MMR, and was allocated to the U.S. oil and gas reporting unit. When a sale of oil and gas properties occurs, goodwill is allocated to that property based on the relationship of the fair value of the property sold to the total reporting unit's fair value. A summary of changes in the carrying amount of goodwill follows: Balance at January 1, 2014 $ 1,916 Purchase accounting adjustments 22 Disposal of Eagle Ford shale assets (see Note 2) (221 ) Impairment charge in 2014 (1,717 ) Balance at December 31, 2014 $ — During fourth-quarter 2014, FCX conducted a goodwill impairment assessment because of the significant decline in oil prices, which resulted in an impairment charge of $1.7 billion for the full carrying value of goodwill. Crude oil prices and FCX's estimates of oil reserves at December 31, 2014, represented the most significant assumptions used in FCX's evaluation of goodwill ( i.e. , Level 3 measurement). Forward strip Brent oil prices used in FCX's estimates at December 31, 2014, ranged from approximately $62 per barrel to $80 per barrel for the years 2015 through 2021, compared with a range from approximately $90 per barrel to $98 per barrel at the acquisition date. Deferred Mining Costs. Stripping costs ( i.e. , the costs of removing overburden and waste material to access mineral deposits) incurred during the production phase of a mine are considered variable production costs and are included as a component of inventory produced during the period in which stripping costs are incurred. Major development expenditures, including stripping costs to prepare unique and identifiable areas outside the current mining area for future production that are considered to be pre-production mine development, are capitalized and amortized using the UOP method based on estimated recoverable proven and probable reserves for the ore body benefited. However, where a second or subsequent pit or major expansion is considered to be a continuation of existing mining activities, stripping costs are accounted for as a current production cost and a component of the associated inventory. Environmental Obligations. Environmental expenditures are charged to expense or capitalized, depending upon their future economic benefits. Accruals for such expenditures are recorded when it is probable that obligations have been incurred and the costs can be reasonably estimated. Environmental obligations attributed to the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (CERCLA) or analogous state programs are considered probable when a claim is asserted, or is probable of assertion, and FCX, or any of its subsidiaries, have been associated with the site. Other environmental remediation obligations are considered probable based on specific facts and circumstances. FCX’s estimates of these costs are based on an evaluation of various factors, including currently available facts, existing technology, presently enacted laws and regulations, remediation experience, whether or not FCX is a potentially responsible party (PRP) and the ability of other PRPs to pay their allocated portions. With the exception of those obligations assumed in the acquisition of FMC that were initially recorded at estimated fair values (refer to Note 12 for further discussion), environmental obligations are recorded on an undiscounted basis. Where the available information is sufficient to estimate the amount of the obligation, that estimate has been used. Where the information is only sufficient to establish a range of probable liability and no point within the range is more likely than any other, the lower end of the range has been used. Possible recoveries of some of these costs from other parties are not recognized in the consolidated financial statements until they become probable. Legal costs associated with environmental remediation (such as fees to outside law firms for work relating to determining the extent and type of remedial actions and the allocation of costs among PRPs) are included as part of the estimated obligation. Environmental obligations assumed in the acquisition of FMC, which were initially recorded at fair value and estimated on a discounted basis, are accreted to full value over time through charges to interest expense. Adjustments arising from changes in amounts and timing of estimated costs and settlements may result in increases and decreases in these obligations and are calculated in the same manner as they were initially estimated. Unless these adjustments qualify for capitalization, changes in environmental obligations are charged to operating income when they occur. FCX performs a comprehensive review of its environmental obligations annually and also reviews changes in facts and circumstances associated with these obligations at least quarterly. Asset Retirement Obligations. FCX records the fair value of estimated asset retirement obligations (AROs) associated with tangible long-lived assets in the period incurred. Retirement obligations associated with long-lived assets are those for which there is a legal obligation to settle under existing or enacted law, statute, written or oral contract or by legal construction. These obligations, which are initially estimated based on discounted cash flow estimates, are accreted to full value over time through charges to cost of sales. In addition, asset retirement costs (ARCs) are capitalized as part of the related asset’s carrying value and are depreciated over the asset’s respective useful life. For mining operations, reclamation costs for disturbances are recognized as an ARO and as a related ARC (included in property, plant, equipment and mine development costs) in the period of the disturbance and depreciated primarily on a UOP basis. FCX’s AROs for mining operations consist primarily of costs associated with mine reclamation and closure activities. These activities, which are site specific, generally include costs for earthwork, revegetation, water treatment and demolition. For oil and gas properties, the fair value of the legal obligation is recognized as an ARO and as a related ARC (included in oil and gas properties) in the period in which the well is drilled or acquired and is amortized on a UOP basis together with other capitalized costs. Substantially all of FCX’s oil and gas leases require that, upon termination of economic production, the working interest owners plug and abandon non-producing wellbores; remove platforms, tanks, production equipment and flow lines; and restore the wellsite. At least annually, FCX reviews its ARO estimates for changes in the projected timing of certain reclamation and closure/restoration costs, changes in cost estimates and additional AROs incurred during the period. Refer to Note 12 for further discussion. Redeemable Noncontrolling Interest - PXP. FCX assumed ownership of Plains Offshore Operations Inc. (Plains Offshore) in connection with its acquisition of PXP in 2013. In 2011, PXP had issued (i) 450,000 shares of Plains Offshore (a consolidated subsidiary of FM O&G) 8% Convertible Preferred Stock (Preferred Stock) for gross proceeds of $450 million and (ii) non-detachable warrants with an exercise price of $20 per share to purchase in aggregate 9.1 million shares of Plains Offshore's common stock. In 2011, Plains Offshore also issued 87 million shares of Plains Offshore Class A common stock, which was to be held in escrow until the conversion and cancellation of the Preferred Stock or the exercise of the warrants. In January 2014, Plains Offshore issued (i) 24,000 shares of Preferred Stock for gross proceeds of $24 million and (ii) non-detachable warrants with an exercise price of $20 per share to purchase in aggregate 0.5 million shares of Plains Offshore's common stock. Plains Offshore held certain of FM O&G's oil and gas properties and assets located in the Gulf of Mexico (GOM) in water depths of 500 feet or more, including the Lucius oil field and the Phobos discovery, but excluding the properties acquired by PXP in 2012 from BP Exploration & Production Inc., BP America Production Company and Shell Offshore Inc. The Preferred Stock represented a 20 percent equity interest in Plains Offshore and was entitled to a dividend of 8 percent per annum, payable quarterly, of which 2 percent could be deferred. In connection with the December 2016 sale of the Deepwater GOM oil and gas properties, FCX settled the Preferred Stock obligation. Refer to Note 2 for further discussion. The Preferred Stock of Plains Offshore was classified as temporary equity because of its redemption features and was therefore reported outside of permanent equity in FCX's consolidated balance sheets. Revenue Recognition. FCX sells its products pursuant to sales contracts entered into with its customers. Revenue for all FCX’s products is recognized when title and risk of loss pass to the customer and when collectibility is reasonably assured. The passing of title and risk of loss to the customer are based on terms of the sales contract, generally upon shipment or delivery of product. Revenues from FCX’s concentrate and cathode sales are recorded based on a provisional sales price or a final sales price calculated in accordance with the terms specified in the relevant sales contract. Revenues from concentrate sales are recorded net of treatment and all refining charges and the impact of derivative contracts. Moreover, because a portion of the metals contained in copper concentrate is unrecoverable as a result of the smelting process, FCX’s revenues from concentrate sales are also recorded net of allowances based on the quantity and value of these unrecoverable metals. These allowances are a negotiated term of FCX’s contracts and vary by customer. Treatment and refining charges represent payments or price adjustments to smelters and refiners that are generally fixed. Under the long-established structure of sales agreements prevalent in the mining industry, copper contained in concentrate and cathode are generally provisionally priced at the time of shipment. The provisional prices are finalized in a specified future month (generally one to four months from the shipment date) based on quoted monthly average spot copper prices on the London Metal Exchange (LME) or the Commodity Exchange Inc. (COMEX), a division of the New York Mercantile Exchange (NYMEX). FCX receives market prices based on prices in the specified future month, which results in price fluctuations recorded to revenues until the date of settlement. FCX records revenues and invoices customers at the time of shipment based on then-current LME or COMEX prices, which results in an embedded derivative ( i.e. , a pricing mechanism that is finalized after the time of delivery) that is required to be bifurcated from the host contract. The host contract is the sale of the metals contained in the concentrate or cathode at the then-current LME or COMEX price. FCX applies the normal purchases and normal sales scope exception in accordance with derivatives and hedge accounting guidance to the host contract in its concentrate or cathode sales agreements since these contracts do not allow for net settlement and always result in physical delivery. The embedded derivative does not qualify for hedge accounting and is adjusted to fair value through earnings each period, using the period-end forward prices, until the date of final pricing. Gold sales are priced according to individual contract terms, generally the average London Bullion Market Association (London) price for a specified month near the month of shipment. The majority of FCX’s molybdenum sales are priced based on the average published Metals Week price, plus conversion premiums for products that undergo additional processing, such as ferromolybdenum and molybdenum chemical products, for the month prior to the month of shipment. FCX has also incorporated changes in the commercial pricing structure for its molybdenum-based chemical products to enable continuation of chemical-grade production. PT-FI concentrate sales and Sociedad Minera Cerro Verde S.A.A. (Cerro Verde) metal sales are subject to certain royalties, which are recorded as a reduction to revenues. Cerro Verde is a subsidiary of FMC. In addition, PT-FI concentrate sales are also subject to export duties since 2014, which are recorded as a reduction to revenues. Refer to Note 13 for further dis

DISPOSITIONS AND ACQUISITIONS D

DISPOSITIONS AND ACQUISITIONS DISPOSITIONS AND ACQUISITIONS	12 Months Ended
	Dec. 31, 2016
Dispositions And Acquisitions [Abstract]
DISPOSITIONS AND ACQUISITIONS	DISPOSITIONS AND ACQUISITIONS TF Holdings Limited - Discontinued Operations. FCX had a 70 percent interest in TF Holdings Limited (TFHL), and TFHL owns 80 percent of Tenke Fungurume Mining S.A. (TFM or Tenke) located in the Democratic Republic of Congo (DRC). On November 16, 2016 , FCX completed the sale of its interest in TFHL to China Molybdenum Co., Ltd. (CMOC) for $2.65 billion in cash (before closing adjustments) 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 . One-half of the proceeds from this transaction was used to repay borrowings under FCX's unsecured bank term loan. The contingent consideration is considered a derivative, and at December 31, 2016 , the fair value was $13 million and was recorded in other assets on the consolidated balance sheets and reduced the loss on disposal, which is reflected in net (loss) income from discontinued operations. Future changes in the fair value of the contingent consideration derivative will be recorded in discontinued operations. In October 2016, 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, filed an arbitration proceeding with the International Chamber of Commerce (ICC) International Court of Arbitration challenging the sale of TFHL. In January 2017, a settlement agreement was entered into with Gécamines that resolved all claims brought by Gécamines against FCX, including the arbitration proceeding. The parties to the settlement are FCX, CMOC, Lundin Mining Corporation (Lundin), TFHL, TFM, BHR Newwood Investment Management Limited and Gécamines. The settlement resulted in a charge of $33 million to the 2016 loss on disposal. In accordance with accounting guidance, FCX reported the results of operations of TFHL as discontinued operations in the consolidated statements of operations because the disposal represents a strategic shift that had a major effect on operations, and presented the assets and liabilities of TFHL as held for sale in the consolidated balance sheets for all periods presented. The consolidated statements of comprehensive loss were not impacted by discontinued operations as TFHL did not have any other comprehensive (loss) income, and the consolidated statements of cash flows are reported on a combined basis without separately presenting discontinued operations. The carrying amounts of TFHL's major classes of assets, liabilities and noncontrolling interests, which were held for sale in the consolidated balance sheets at December 31, 2015, follow: Assets Cash and cash equivalents $ 29 Inventories 584 Receivables and other current assets 131 Total current assets held for sale $ 744 a Property, plant, equipment and mine 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 $ 108 Total current liabilities held for sale $ 108 a Deferred income taxes $ 681 Asset retirement obligations and other liabilities 37 Total long-term liabilities held for sale $ 718 a Noncontrolling interests $ 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: Years Ended December 31, 2016 2015 2014 Revenues a $ 959 $ 1,270 $ 1,437 Costs and expenses: Production and delivery costs 833 852 782 Depreciation, depletion and amortization 80 b 257 228 Interest expense allocated from parent c 39 28 24 Other costs and expenses, net 10 26 27 (Loss) income before income taxes and loss on disposal (3 ) 107 376 Loss on disposal (198 ) d — — Net (loss) income before income taxes (201 ) 107 376 Benefit from (provision for) income taxes 8 (16 ) (99 ) Net (loss) income from discontinued operations $ (193 ) $ 91 $ 277 a. In accordance with accounting guidance, amounts are net of eliminations of intercompany sales totaling $157 million in 2016 , $114 million in 2015 and $121 million in 2014 . b. In accordance with accounting guidance, depreciation, depletion and amortization is not recognized subsequent to classification as assets held for sale, which occurred in May 2016. c. In accordance with accounting guidance, interest associated with FCX's unsecured bank term loan that was required to be repaid as a result of the sale of TFHL has been allocated to discontinued operations. d. Includes a charge of $33 million associated with the settlement agreement entered into with Gécamines, partly offset by a gain of $13 million for the fair value of contingent consideration. Cash flows from discontinued operations included in the consolidated statements of cash flows follow: Years Ended December 31, 2016 2015 2014 Net cash provided by operating activities $ 241 $ 217 $ 529 Net cash used in investing activities (73 ) (253 ) (174 ) Net cash used in financing activities (123 ) (82 ) (285 ) Increase (decrease) in cash and cash equivalents in assets held for sale $ 45 $ (118 ) $ 70 FCX has also agreed to negotiate exclusively with CMOC (until February 28, 2017) 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. The assets and liabilities of Freeport Cobalt and Kisanfu are classified as held for sale in the consolidated balance sheets, and a $110 million estimated loss on disposal was included in net gain on sales of assets in 2016 in the consolidated statements of operations. Oil and Gas Operations. On December 30, 2016 , FM O&G completed the sale of its onshore California oil and gas properties to Sentinel Peak Resources California LLC (Sentinel) for cash consideration of $592 million (before closing adjustments from the July 1, 2016, effective date) 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 over $70 per barrel in each of these calendar years. The contingent consideration is considered a derivative, and at December 31, 2016 , the fair value was $33 million , which was recorded in other assets on the consolidated balance sheets and included in the gain on the sale. Future changes in the fair value of the contingent consideration derivative will be recorded in operating income. Sentinel assumed abandonment obligations associated with the properties. On December 15, 2016 , FM O&G completed the sale of its Deepwater GOM oil and gas properties to Anadarko Petroleum Corporation (Anadarko) for cash consideration of $2.0 billion (before closing adjustments from the August 1, 2016, effective date) and up to $150 million in contingent payments. The contingent payments were recorded under the loss recovery approach, whereby contingent gains are recorded up to the amount of any loss on the sale, and was included in other assets ( $150 million ) on the consolidated balance sheets and reduced the loss on the sale. The contingent payments will be received over time as Anadarko realizes future cash flows in connection with a third-party production handling agreement for an offshore platform. Anadarko assumed abandonment obligations associated with these properties. A portion of the proceeds from this transaction was used to repay FCX's remaining outstanding borrowings under its unsecured bank term loan. Under the full cost accounting rules, the sales of the Deepwater GOM and onshore California oil and gas properties required gain (loss) recognition (net loss of $9 million , which was net of $150 million for contingent payments associated with the Deepwater GOM sale and $33 million for the fair value of contingent consideration from the onshore California sale) because of their significance to the full cost pool. In connection with the sale of the Deepwater GOM oil and gas properties, FM O&G entered into an agreement to amend the terms of the Plains Offshore Preferred Stock that was reported as redeemable noncontrolling interest on FCX's consolidated balance sheets. The amendment provided FM O&G the right to call these securities for $582 million . FM O&G exercised this option in December 2016 and recorded a $199 million gain on redemption to retained earnings. On July 25, 2016 , FM O&G sold its Haynesville shale assets for cash consideration of $87 million , before closing adjustments. 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. 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. In 2014, FCX completed the acquisition of Deepwater GOM oil and gas interests, including (i) an interest in the Vito oil discovery in the Mississippi Canyon area and a significant lease position in the Vito Basin area for $496 million , and (ii) interests in the Lucius and Heidelberg oil fields and several exploration leases for $918 million . These Deepwater GOM acquisitions were funded primarily by the like-kind exchange escrow from the sale of the Eagle Ford shale assets discussed below. Also in 2014, FCX completed the sale of its Eagle Ford shale assets to a subsidiary of Encana Corporation for cash consideration of $3.1 billion , before closing adjustments from the April 1, 2014 , effective date. Under full cost accounting rules, the proceeds were recorded as a reduction of capitalized oil and gas properties, with no gain or loss recognition, except for $84 million of deferred tax expense recorded in connection with the allocation of $221 million of goodwill (for which deferred taxes were not previously provided) to the Eagle Ford shale assets. Approximately $1.3 billion of proceeds from this transaction was placed in a like-kind exchange escrow and was used to reinvest in additional Deepwater GOM oil and gas interests, as discussed above. The remaining proceeds were used to repay debt. Morenci. On May 31, 2016 , FCX sold a 13 percent undivided interest in its Morenci unincorporated joint venture to SMM Morenci, Inc. 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. A portion of the proceeds from the transaction was used to repay borrowings under FCX's unsecured bank term loan and revolving credit facility. The Morenci unincorporated joint venture was owned 85 percent by FCX and 15 percent by 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 SMM Morenci, Inc. Timok. On May 2, 2016 , FMC sold an interest in the Timok exploration project in Serbia to Global Reservoir Minerals Inc. (now known as Nevsun Resources, Ltd.) 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. As a result of this transaction, FCX recorded a gain of $133 million in 2016, and no amounts were recorded for contingent consideration under the loss recovery approach. A portion of the proceeds from the transaction was used to repay borrowings under FCX's unsecured bank term loan. Candelaria and Ojos del Salado. On November 3, 2014 , FCX completed the sale of its 80 percent ownership interests in the Candelaria and Ojos del Salado copper mining operations and supporting infrastructure located in Chile to Lundin for $1.8 billion in cash, before closing adjustments, and contingent consideration of up to $200 million . Contingent consideration is calculated as five percent of net copper revenues in any annual period over the ensuing five years when the average realized copper price exceeds $4.00 per pound. Excluding contingent consideration (for which no amounts were recorded under the loss recovery approach), after-tax net proceeds totaled $1.5 billion , and FCX recorded a gain of $671 million associated with this transaction. The transaction had an effective date of June 30, 2014 . FCX used the proceeds from this transaction to repay indebtedness. This sale did not meet the criteria for classification as a discontinued operation. The following table provides balances of the major classes of assets and liabilities for the Candelaria and Ojos del Salado mines at November 3, 2014: Current assets $ 482 Long-term assets 1,155 Current liabilities 129 Long-term liabilities 89 Noncontrolling interests 243 For the period from January 1, 2014, to November 3, 2014, net income before income taxes was $270 million and net income attributable to common stockholders was $144 million for the Candelaria and Ojos del Salado mines.

OWNERSHIP IN SUBSIDIARIES AND J

OWNERSHIP IN SUBSIDIARIES AND JOINT VENTURES	12 Months Ended
	Dec. 31, 2016
Equity Method Investments and Joint Ventures [Abstract]
Ownership In Subsidiaries And Joint Ventures	OWNERSHIP IN SUBSIDIARIES AND JOINT VENTURES Ownership in Subsidiaries. FMC is a fully integrated producer of copper and molybdenum, with mines in North America and South America. At December 31, 2016 , FMC’s operating mines in North America were Morenci, Bagdad, Safford, Sierrita and Miami located in Arizona; Tyrone and Chino located in New Mexico; and Henderson and Climax located in Colorado. FCX has a 72 percent interest (subsequent to the sale of a 13 percent undivided interest on May 31, 2016) in Morenci (refer to “Joint Ventures – Sumitomo”) and owns 100 percent of the other North America mines. At December 31, 2016 , operating mines in South America were Cerro Verde ( 53.56 percent owned) located in Peru and El Abra ( 51 percent owned) located in Chile. At December 31, 2016 , FMC’s net assets totaled $15.8 billion and its accumulated deficit totaled $14.1 billion . FCX had no loans outstanding to FMC at December 31, 2016 . FCX’s direct ownership in PT-FI totals 81.28 percent . PT Indocopper Investama, an Indonesian company, owns 9.36 percent of PT-FI, and FCX owns 100 percent of PT Indocopper Investama. Refer to "Joint Ventures - Rio Tinto" for discussion of the unincorporated joint ventures. At December 31, 2016 , PT-FI's net assets totaled $6.4 billion and its retained earnings totaled $6.1 billion . FCX had $88 million in intercompany loans outstanding to PT-FI at December 31, 2016 . FCX owns 100 percent of the outstanding Atlantic Copper common stock. At December 31, 2016 , Atlantic Copper’s net liabilities totaled $25 million and its accumulated deficit totaled $436 million . FCX had $290 million in intercompany loans outstanding to Atlantic Copper at December 31, 2016 . FCX owns 100 percent of FM O&G, which, as of December 31, 2016, has a portfolio of oil and gas assets that includes oil and natural gas production onshore in South Louisiana and on the GOM shelf, oil production offshore California and natural gas production from the Madden area in central Wyoming. At December 31, 2016 , FM O&G’s net liabilities totaled $13.4 billion and its accumulated deficit totaled $25.0 billion . FCX had $9.1 billion in intercompany loans outstanding to FM O&G at December 31, 2016 . Joint Ventures. FCX has the following unincorporated joint ventures. Rio Tinto. PT-FI and Rio Tinto have established an unincorporated joint venture pursuant to which Rio Tinto has a 40 percent interest in PT-FI’s Contract of Work (COW) and the option to participate in 40 percent of any other future exploration projects in Papua, Indonesia. Pursuant to the joint venture agreement, Rio Tinto has a 40 percent interest in certain assets and future production exceeding specified annual amounts of copper, gold and silver through 2022 in Block A of PT-FI’s COW, and, after 2022, a 40 percent interest in all production from Block A. All of PT-FI’s proven and probable reserves and all its mining operations are located in the Block A area. PT-FI receives 100 percent of production and related revenues from reserves established as of December 31, 1994 ( 27.1 billion pounds of copper, 38.4 million ounces of gold and 75.8 million ounces of silver), divided into annual portions subject to reallocation for events causing changes in the anticipated production schedule. Production and related revenues exceeding those annual amounts (referred to as incremental expansion revenues) are shared 60 percent PT-FI and 40 percent Rio Tinto. Operating, nonexpansion capital and administrative costs are shared 60 percent PT-FI and 40 percent Rio Tinto based on the ratio of (i) the incremental expansion revenues to (ii) total revenues from production from Block A, with PT-FI responsible for the rest of such costs. PT-FI will continue to receive 100 percent of the cash flow from specified annual amounts of copper, gold and silver through 2022 calculated by reference to its proven and probable reserves as of December 31, 1994, and 60 percent of all remaining cash flow. Expansion capital costs are shared 60 percent PT-FI and 40 percent Rio Tinto. The payable to Rio Tinto for its share of joint venture cash flows was $10 million at both December 31, 2016 and 2015 . Sumitomo and SMM Morenci, Inc. FCX owns a 72 percent undivided interest in Morenci via an unincorporated joint venture. The remaining 28 percent is owned by Sumitomo ( 15 percent ) and SMM Morenci, Inc. ( 13 percent ). Each partner takes in kind its share of Morenci’s production. FMC purchased 165 million pounds of Morenci’s copper cathode from Sumitomo and SMM Morenci, Inc. at market prices for $362 million during 2016 . FCX had a receivable from Sumitomo and SMM Morenci, Inc. of $15 million at December 31, 2016 , and a receivable from Sumitomo of $10 million at December 31, 2015 .

INVENTORIES, INCLUDING LONG-TER

INVENTORIES, INCLUDING LONG-TERM MILL AND LEACH STOCKPILES	12 Months Ended
	Dec. 31, 2016
Inventory Disclosure [Abstract]
Inventories, Including Long-Term Mill And Leach Stockpiles	INVENTORIES, INCLUDING LONG-TERM MILL AND LEACH STOCKPILES The components of inventories follow: December 31, 2016 2015 Current inventories: Total materials and supplies, net a $ 1,306 $ 1,575 Mill stockpiles $ 259 $ 137 Leach stockpiles 1,079 1,402 Total current mill and leach stockpiles $ 1,338 $ 1,539 Raw materials (primarily concentrate) $ 255 $ 220 Work-in-process 114 108 Finished goods 629 633 Total product inventories $ 998 $ 961 Long-term inventories: Mill stockpiles $ 487 $ 480 Leach stockpiles 1,146 1,183 Total long-term inventories b $ 1,633 $ 1,663 a. Materials and supplies inventory was net of obsolescence reserves totaling $29 million at December 31, 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 $36 million for 2016 , primarily for molybdenum because of lower molybdenum prices, $338 million ( $215 million for copper inventories and $123 million for molybdenum inventories) for 2015 and $6 million for 2014 (refer to Note 16 for metals inventory adjustments by business segment).

PROPERTY, PLANT, EQUIPMENT AND

PROPERTY, PLANT, EQUIPMENT AND MINING DEVELOPMENT COSTS, NET	12 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment, Net [Abstract]
Property, Plant, Equipment and Mining Development Costs, Net	PROPERTY, PLANT, EQUIPMENT AND MINE DEVELOPMENT COSTS, NET The components of net property, plant, equipment and mine development costs follow: December 31, 2016 2015 Proven and probable mineral reserves $ 3,863 $ 3,880 VBPP 559 559 Mine development and other 5,755 4,878 Buildings and infrastructure 7,479 6,964 Machinery and equipment 11,744 11,558 Mobile equipment 3,725 3,843 Construction in progress 2,831 3,716 Property, plant, equipment and mine development costs 35,956 35,398 Accumulated depreciation, depletion and amortization (12,737 ) (11,412 ) Property, plant, equipment and mine development costs, net $ 23,219 $ 23,986 FCX recorded $1.6 billion for VBPP in connection with the FMC acquisition in 2007 (excluding $634 million associated with mining operations that were sold or included in assets held for sale) and transferred $640 million to proven and probable mineral reserves prior to 2015 ( none in 2016 and 2015). Cumulative impairments of VBPP total $485 million , which were primarily recorded in 2008. Capitalized interest, which primarily related to FCX's mining operations' capital projects, totaled $92 million in 2016 , $157 million in 2015 and $148 million in 2014 . In response to market conditions, beginning in the second half of 2015, FCX made adjustments to its operating plans for its mining operations. Operating plans for the North America copper mines were revised to reduce operating and capital costs, and adjust production to reflect market conditions; operations at the El Abra mine in Chile were adjusted to reduce mining and stacking rates by approximately 50 percent to achieve lower operating and labor costs, defer capital expenditures and extend the life of the existing operation; and the Henderson molybdenum mine in Colorado operated at reduced rates during 2016, resulting in an approximate 65 percent reduction in its annual production volumes. In connection with the decline in copper and molybdenum prices in 2015 and the revised operating plans discussed above, FCX evaluated its long-lived assets (other than indefinite-lived intangible assets) for impairment during 2015 and as of December 31, 2015, as described in Note 1 . FCX’s evaluations of its copper mines at December 31, 2015, were based on near-term price assumptions reflecting prevailing copper future prices, which ranged from $2.15 per pound to $2.17 per pound for COMEX and from $2.13 per pound to $2.16 per pound for LME, and a long-term average price of $3.00 per pound. FCX's evaluations of its molybdenum mines at December 31, 2015, were based on near-term price assumptions that were consistent with then-current market prices for molybdenum and a long-term average price of $10.00 per pound. FCX’s evaluations of long-lived assets (other than indefinite-lived intangible assets) resulted in the recognition of a charge to production costs for the impairment of the Tyrone mine totaling $37 million in 2015, net of a revision to Tyrone's ARO. During 2016, FCX concluded there were no events or changes in circumstances that would indicate that the carrying amount of its long-lived mining assets might not be recoverable. Additionally, copper and molybdenum prices have improved. The LME copper spot price of $2.50 per pound at December 31, 2016, was 17 percent higher than the LME spot price of $2.13 per pound at December 31, 2015, and the weekly average price for molybdenum of $6.74 per pound at December 31, 2016, was 29 percent higher than the weekly average price of $5.23 per pound at December 31, 2015.

OTHER ASSETS

OTHER ASSETS	12 Months Ended
	Dec. 31, 2016
Other Assets [Abstract]
Other Assets Disclosure	OTHER ASSETS The components of other assets follow: December 31, 2016 2015 Disputed tax assessments: a PT-FI $ 331 $ 209 Cerro Verde 277 245 Intangible assets b 305 316 Investments: Assurance bond c 120 118 PT Smelting d 83 112 Available-for-sale securities 50 47 Other 50 50 Contingent consideration associated with sales of assets e 196 — Legally restricted funds f 182 171 Long-term receivable for taxes g 129 261 Rio Tinto's share of ARO 71 49 Long-lead equipment 17 187 Deferred drillship costs — 81 Other 145 141 Total other assets $ 1,956 $ 1,987 a. Refer to Note 12 for further discussion. b. Intangible assets were net of accumulated amortization totaling $37 million at December 31, 2016 , and $61 million at December 31, 2015 . c. Relates to PT-FI's commitment for smelter development in Indonesia (refer to Note 13 for further discussion). d. FCX's 25 percent ownership in PT Smelting (smelter and refinery in Gresik, Indonesia) is recorded using the equity method. Amounts were reduced by unrecognized profits on sales from PT-FI to PT Smelting totaling $39 million at December 31, 2016 , and $14 million at December 31, 2015 . Trade accounts receivable from PT Smelting totaled $283 million at December 31, 2016 , and $160 million at December 31, 2015 . e. Refer to Note 2 for further discussion. f. Includes $173 million at December 31, 2016 , and $169 million at December 31, 2015 , held in trusts for AROs related to properties in New Mexico (refer to Note 12 for further discussion). g. Includes tax overpayments and refunds not expected to be realized within the next 12 months (primarily at PT-FI and Cerro Verde).

ACCOUNTS PAYABLE AND ACCRUED LI

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	12 Months Ended
	Dec. 31, 2016
Accounts Payable and Accrued Liabilities, Current [Abstract]
Accounts Payable and Accrued Liabilities	ACCOUNTS PAYABLE AND ACCRUED LIABILITIES The components of accounts payable and accrued liabilities follow: December 31, 2016 2015 Accounts payable $ 1,540 $ 2,251 Salaries, wages and other compensation 225 212 Accrued interest a 129 165 Accrued taxes, other than income taxes 90 201 Deferred revenue 82 41 Pension, postretirement, postemployment and other employee benefits b 76 125 Accrued mining royalties 46 33 Oil and gas royalty and revenue payable 37 53 Other 168 151 Total accounts payable and accrued liabilities $ 2,393 $ 3,232 a. Third-party interest paid, net of capitalized interest, was $743 million in 2016 , $570 million in 2015 and $637 million (including $3 million for discontinued operations) in 2014 . b. Refer to Note 9 for long-term portion.

DEBT

DEBT	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Debt	DEBT FCX's debt at December 31, 2016 , included additions of $179 million ( $210 million at December 31, 2015 ) for unamortized fair value adjustments (primarily from the 2013 oil and gas acquisitions), and is net of reductions of $100 million ( $129 million at December 31, 2015 ) for unamortized net discounts and unamortized debt issuance costs. The components of debt follow: December 31, 2016 2015 Bank term loan $ — $ 3,032 Revolving credit facility — — Lines of credit — 442 Cerro Verde credit facility 1,390 1,781 Cerro Verde shareholder loans 261 259 Senior notes and debentures: Issued by FCX: 2.15% Senior Notes due 2017 500 499 2.30% Senior Notes due 2017 728 747 2.375% Senior Notes due 2018 1,480 1,495 6.125% Senior Notes due 2019 186 — 3.100% Senior Notes due 2020 996 995 6½% Senior Notes due 2020 583 — 6.625% Senior Notes due 2021 242 — 4.00% Senior Notes due 2021 595 594 6.75% Senior Notes due 2022 432 — 3.55% Senior Notes due 2022 1,882 1,987 6 7 / 8 % Senior Notes due 2023 784 — 3.875% Senior Notes due 2023 1,912 1,987 4.55% Senior Notes due 2024 844 843 5.40% Senior Notes due 2034 739 788 5.450% Senior Notes due 2043 1,842 1,973 Issued by Freeport-McMoRan Oil & Gas LLC (FM O&G LLC): 6.125% Senior Notes due 2019 60 251 6½% Senior Notes due 2020 69 662 6.625% Senior Notes due 2021 35 281 6.75% Senior Notes due 2022 48 488 6 7 / 8 % Senior Notes due 2023 55 857 Issued by FMC: 7 1 / 8 % Debentures due 2027 115 115 9½% Senior Notes due 2031 128 128 6 1 / 8 % Senior Notes due 2034 116 116 Other 5 4 Total debt 16,027 20,324 Less current portion of debt (1,232 ) (649 ) Long-term debt $ 14,795 $ 19,675 Bank Term Loan. In February 2013, FCX entered into an agreement for a $4.0 billion unsecured bank term loan (Term Loan) in connection with the acquisitions of PXP and MMR. Upon closing the PXP acquisition, FCX borrowed $4.0 billion under the Term Loan, and FM O&G LLC (a wholly owned subsidiary of FM O&G and the successor entity of PXP) joined the Term Loan as a borrower. During 2016, FCX paid off the balance of the Term Loan with a portion of the proceeds from sales of assets (refer to Note 2 for further discussion). Revolving Credit Facility. In May 2014, FCX, PT-FI and FM O&G LLC amended the senior unsecured $3.0 billion revolving credit facility to extend the maturity date one year to May 31, 2019, and increase the aggregate facility amount from $3.0 billion to $4.0 billion , with $500 million available to PT-FI. FCX, PT-FI and FM O&G LLC had entered into the $3.0 billion revolving credit facility on May 31, 2013 (upon completion of the acquisition of PXP). In February and December 2015, FCX modified the revolving credit facility to amend the maximum total leverage ratio. In February 2016, FCX amended its revolving credit facility, which included (i) modification of the maximum leverage ratio and the minimum interest expense coverage ratio and (ii) a commitment reduction from $4.0 billion to $3.5 billion . At December 31, 2016 , FCX had no borrowings outstanding and $43 million of letters of credit issued under the revolving credit facility, resulting in availability of approximately $3.5 billion , of which $1.5 billion could be used for additional letters of credit. Interest on the revolving credit facility (London Interbank Offered Rate (LIBOR) plus 2.50 percent or an alternate base rate (ABR) plus 1.50 percent at December 31, 2016 ) is determined by reference to FCX's credit ratings. Lines of Credit. At December 31, 2016 , FCX had no borrowings outstanding on its uncommitted and short-term lines of credit with certain financial institutions. These unsecured lines of credit allow FCX to borrow at a spread over LIBOR or the respective financial institution's cost of funds with terms and pricing that are generally more favorable than FCX's revolving credit facility. Cerro Verde Credit Facility. In March 2014, Cerro Verde entered into a five -year, $1.8 billion senior unsecured credit facility that is nonrecourse to FCX and the other shareholders of Cerro Verde. Interest on amounts drawn under the term loan is based on LIBOR plus a spread ( 1.90 percent at December 31, 2016 ) based on Cerro Verde’s total net debt to EBITDA ratio as defined in the agreement. At December 31, 2016 , term loan borrowings under the facility totaled $1.4 billion . The credit facility amortizes in four installments in amounts necessary for the aggregate borrowings and outstanding letters of credit not to exceed 85 percent of the $1.8 billion commitment on September 30, 2017, 70 percent on March 31, 2018, and 35 percent on September 30, 2018, with the remaining balance due on the maturity date of March 10, 2019. The interest rate on Cerro Verde's credit facility was 2.67 percent at December 31, 2016 . Cerro Verde Shareholder Loans. In December 2014, Cerro Verde entered into loan agreements with three of its shareholders for borrowings up to $800 million . Cerro Verde can designate all or a portion of the shareholder loans as subordinated. If the loans are not designated as subordinated, they bear interest at LIBOR plus the current spread on Cerro Verde’s credit facility. If they are designated as subordinated, they bear interest at the same rate plus 0.5 percent . The loans mature on December 22, 2019, unless at that time there is senior financing associated with the Cerro Verde expansion project that is senior to the shareholder loans, in which case the shareholder loans mature two years following the maturity of the senior financing. At December 31, 2016 , the outstanding balance on the Cerro Verde shareholder loans was $261 million (excluding $345 million from FMC, which is eliminated in consolidation). The weighted-average interest rate on the Cerro Verde shareholder loans was 3.10 percent at December 31, 2016 . Senior Notes issued by FCX. In December 2016, FCX completed an exchange offer and consent solicitation associated with FM O&G LLC senior notes. Holders representing 89 percent of the outstanding FM O&G LLC senior notes tendered their notes and received new FCX senior notes. Each series of newly issued FCX senior notes have an interest rate that is identical to the interest rate of the applicable series of FM O&G LLC senior notes. The newly issued FCX senior notes are senior unsecured obligations of FCX and rank equally in right of payment with all other existing and future senior unsecured indebtedness of FCX. These new FCX senior notes have not been registered with the SEC under the Securities Act of 1933, as amended, or any state or foreign securities law. The 6.125% Senior Notes due 2019, 6½% Senior Notes due 2020 and 6.625% Senior Notes due 2021 are redeemable at specified redemption prices. The 6.75% Senior Notes due 2022 and 6 7 / 8 % Senior Notes due 2023 are redeemable in whole or in part, at the option of FCX, at make-whole redemption prices prior to February 1, 2018, and February 15, 2020, respectively, and at specified redemption prices thereafter. A summary of the tenders follows: Principal Amount Outstanding Principal Amount Tendered Book Value of New FCX Senior Notes 6.125% Senior Notes due 2019 $ 237 $ 179 $ 186 6½% Senior Notes due 2020 617 552 583 6.625% Senior Notes due 2021 261 228 242 6.75% Senior Notes due 2022 449 404 432 6 7 / 8 % Senior Notes due 2023 778 728 785 $ 2,342 $ 2,091 $ 2,228 The principal amounts were increased by $151 million to reflect the remaining unamortized acquisition-date fair market value adjustments associated with the PXP acquisition. In addition, FCX paid $14 million in cash consideration for FM O&G LLC’s senior notes that were tendered, which reduced the book value of the new FCX senior notes. These adjustments and cash consideration are being amortized over the term of these senior notes and recorded as a net reduction of interest expense. In November 2014, FCX sold $750 million of 2.30% Senior Notes due 2017, $600 million of 4.00% Senior Notes due 2021, $850 million of 4.55% Senior Notes due 2024 and $800 million of 5.40% Senior Notes due 2034 for total net proceeds of $2.97 billion . In March 2013, in connection with the financing of FCX's acquisitions of PXP and MMR, FCX issued $6.5 billion of unsecured senior notes in four tranches. FCX sold $1.5 billion of 2.375% Senior Notes due March 2018, $1.0 billion of 3.100% Senior Notes due March 2020, $2.0 billion of 3.875% Senior Notes due March 2023 and $2.0 billion of 5.450% Senior Notes due March 2043 for total net proceeds of $6.4 billion . In February 2012, FCX sold $500 million of 2.15% Senior Notes due 2017 and $2.0 billion of 3.55% Senior Notes due 2022 for total net proceeds of $2.47 billion . The 2.15% Senior Notes due 2017, 2.30% Senior Notes due 2017, 2.375% Senior Notes due 2018, 3.100% Senior Notes due 2020 and 4.00% Senior Notes due 2021 are redeemable in whole or in part, at the option of FCX, at a make-whole redemption price. The senior notes listed below are redeemable in whole or in part, at the option of FCX, at a make-whole redemption price prior to the dates stated below, and beginning on the dates stated below at 100 percent of principal. Debt Instrument Date 3.55% Senior Notes due 2022 December 1, 2021 3.875% Senior Notes due 2023 December 15, 2022 4.55% Senior Notes due 2024 August 14, 2024 5.40% Senior Notes due 2034 May 14, 2034 5.450% Senior Notes due 2043 September 15, 2042 These senior notes rank equally with FCX's other existing and future unsecured and unsubordinated indebtedness. Senior Notes issued by FM O&G LLC. In May 2013, in connection with the acquisition of PXP, FCX assumed unsecured senior notes with a stated value of $6.4 billion , which was increased by $716 million to reflect the acquisition-date fair market value of these senior notes. After redemptions and the 2016 exchange offer and consent solicitation discussed above, as of December 31, 2016 , the stated value of these senior notes totaled $251 million , which was increased by $16 million to reflect the remaining unamortized acquisition-date fair market value adjustments that are being amortized over the term of these senior notes and recorded as a reduction of interest expense. The 6.125% Senior Notes due 2019, 6½% Senior Notes due 2020, 6.625% Senior Notes due 2021 and 6.75% Senior Notes due 2022 are redeemable at specified redemption prices. The 6 7 / 8 % Senior Notes due 2023 are redeemable in whole or in part, at the option of FM O&G LLC, at make-whole redemption prices prior to February 15, 2018 , and at specified redemption prices thereafter. Exchanges and Early Extinguishment of Debt. During 2016, FCX redeemed certain senior notes in exchange for its common stock (refer to Note 10 for further discussion) and purchased certain senior notes in open-market transactions. A summary of these debt extinguishments follows: Principal Amount Discounts/Deferred Debt Issuance Costs Book Value Redemption Value Gain 2.30% Senior Notes due 2017 $ 20 $ — $ 20 $ 20 $ — 2.375% Senior Notes due 2018 18 — 18 18 — 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 $ 407 $ 4 $ 403 $ 349 $ 54 Partially offsetting the $54 million gain was $28 million in losses, primarily related to deferred debt issuance costs for the Term Loan that was repaid and costs associated with the December 2016 senior note exchange offer and consent solicitation. A summary of debt extinguishments during 2014 resulting from redemptions and tender offers follows: Principal Amount Purchase Accounting Fair- Value Adjustments Book Value Redemption Value Gain (Loss) 1.40% Senior Notes due 2015 $ 500 $ — $ 500 $ 501 $ (1 ) 6.125% Senior Notes due 2019 513 40 553 555 (2 ) 8.625% Senior Notes due 2019 400 41 441 417 24 7.625% Senior Notes due 2020 300 32 332 318 14 6½% Senior Notes due 2020 883 79 962 952 10 6.625% Senior Notes due 2021 339 31 370 367 3 6.75% Senior Notes due 2022 551 57 608 600 8 6 7 / 8 % Senior Notes due 2023 722 84 806 785 21 $ 4,208 $ 364 $ 4,572 $ 4,495 $ 77 Partially offsetting the net $77 million gain was $4 million in losses, primarily associated with the modification of FCX's revolving credit facility in May 2014. Guarantees. In connection with the acquisition of PXP, FCX guaranteed the PXP senior notes, and the guarantees by certain PXP subsidiaries were released. Refer to Note 17 for a discussion of FCX’s senior notes guaranteed by FM O&G LLC. Restrictive Covenants. FCX's revolving credit facility contains customary affirmative covenants and representations, and also a number of negative covenants that, among other things, restrict, subject to certain exceptions, the ability of FCX’s subsidiaries that are not borrowers or guarantors to incur additional indebtedness (including guarantee obligations) and FCX’s ability or the ability of FCX’s subsidiaries to: create liens on assets; enter into sale and leaseback transactions; engage in mergers, liquidations and dissolutions; and sell assets. FCX's revolving credit facility also contains financial ratios governing maximum total leverage and minimum interest coverage. Following the February 2016 amendment, FCX's leverage ratio (Net Debt/EBITDA, as defined in the credit agreement) cannot exceed 4.25 x in 2017 and 3.75 x thereafter. Additionally, under the February 2016 amendments, many of the exceptions to the subsidiary indebtedness restrictions and the lien restrictions were narrowed significantly through March 31, 2017. In addition, on or prior to March 31, 2017, FCX is not permitted to pay dividends on its common stock or make other restricted payments. The pricing under the amended revolving credit facility also changed and is a function of credit ratings and the leverage ratio. FCX’s senior notes contain limitations on liens. At December 31, 2016 , FCX was in compliance with all of its covenants. Maturities. Maturities of debt instruments based on the principal amounts and terms outstanding at December 31, 2016 , total $1.2 billion in 2017 , $2.3 billion in 2018 , $1.1 billion in 2019 , $1.6 billion in 2020 , $862 million in 2021 and $8.8 billion thereafter.

OTHER LIABILITIES, INCLUDING EM

OTHER LIABILITIES, INCLUDING EMPLOYEE BENEFITS	12 Months Ended
	Dec. 31, 2016
Other Liabilities, Including Employee Benefits [Abstract]
Other Liabilities	OTHER LIABILITIES, INCLUDING EMPLOYEE BENEFITS The components of other liabilities follow: December 31, 2016 2015 Pension, postretirement, postemployment and other employment benefits a $ 1,345 $ 1,260 Provision for tax positions 167 152 Legal matters 77 77 Insurance claim reserves 51 59 Accrued oil and gas contract commitments 43 — Other 62 93 Total other liabilities $ 1,745 $ 1,641 a. Refer to Note 7 for current portion. Pension Plans. Following is a discussion of FCX’s pension plans. FMC Plans. FMC has U.S. trusteed, non-contributory pension plans covering substantially all of its U.S. employees and some employees of its international subsidiaries hired before 2007. The applicable FMC plan design determines the manner in which benefits are calculated for any particular group of employees. Benefits are calculated based on final average monthly compensation and years of service or based on a fixed amount for each year of service. Non-bargained FMC employees hired after December 31, 2006, are not eligible to participate in the FMC U.S. pension plan. FCX’s funding policy for these plans provides that contributions to pension trusts shall be at least equal to the minimum funding requirements of the Employee Retirement Income Security Act of 1974, as amended, for U.S. plans; or, in the case of international plans, the minimum legal requirements that may be applicable in the various countries. Additional contributions also may be made from time to time. FCX’s policy for determining asset-mix targets for the FMC plan assets held in a master trust (Master Trust) includes the periodic development of asset and liability studies to determine expected long-term rates of return and expected risk for various investment portfolios. FCX’s retirement plan administration and investment committee considers these studies in the formal establishment of asset-mix targets. FCX’s investment objective emphasizes the need to maintain a well-diversified investment program through both the allocation of the Master Trust assets among asset classes and the selection of investment managers whose various styles are fundamentally complementary to one another and serve to achieve satisfactory rates of return. Diversification, by asset class and by investment manager, is FCX’s principal means of reducing volatility and exercising prudent investment judgment. FCX’s present target asset allocation approximates 46 percent equity investments (primarily global equities), 43 percent fixed income (primarily long-term treasury STRIPS or "separate trading or registered interest and principal securities"; long-term U.S. treasury/agency bonds; global fixed income securities; long-term, high-credit quality corporate bonds; high-yield and emerging markets fixed income securities; and fixed income debt securities) and 11 percent alternative investments (private real estate, real estate investment trusts and private equity). The expected rate of return on plan assets is evaluated at least annually, taking into consideration asset allocation, historical returns on the types of assets held in the Master Trust and the current economic environment. Based on these factors, FCX expects the pension assets will earn an average of 7.0 percent per annum beginning January 1, 2017. The 7.0 percent estimation was based on a passive return on a compound basis of 6.5 percent and a premium for active management of 0.5 percent reflecting the target asset allocation and current investment array. For estimation purposes, FCX assumes the long-term asset mix for these plans generally will be consistent with the current mix. Changes in the asset mix could impact the amount of recorded pension income or expense, the funded status of the plans and the need for future cash contributions. A lower-than-expected return on assets also would decrease plan assets and increase the amount of recorded pension expense in future years. When calculating the expected return on plan assets, FCX uses the market value of assets. Among the assumptions used to estimate the pension benefit obligation is a discount rate used to calculate the present value of expected future benefit payments for service to date. The discount rate assumption for FCX’s U.S. plans is designed to reflect yields on high-quality, fixed-income investments for a given duration. The determination of the discount rate for these plans is based on expected future benefit payments for service to date together with the Mercer Pension Discount Curve - Above Mean Yield. The Mercer Pension Discount Curve - Above Mean Yield is constructed from the bonds in the Mercer Pension Discount Curve that have a yield higher than the regression mean yield curve. The Mercer Pension Discount Curve consists of spot ( i.e. , zero coupon) interest rates at one-half year increments for each of the next 30 years and is developed based on pricing and yield information for high-quality corporate bonds. Changes in the discount rate are reflected in FCX’s benefit obligation and, therefore, in future pension costs. Other FCX Plans. In 2004, FCX established an unfunded Supplemental Executive Retirement Plan (SERP) for its two most senior executive officers. The SERP provides for retirement benefits payable in the form of a joint and survivor annuity or an equivalent lump sum, which is determined on January 1 of the year in which the participant completed 25 years of credited service. The annuity will equal a percentage of the executive’s highest average compensation for any consecutive three-year period during the five years immediately preceding 25 years of credited service. The SERP benefit will be reduced by the value of all benefits paid or due under any defined benefit or defined contribution plan sponsored by FM Services Company, FCX’s wholly owned subsidiary, FCX or its predecessor, but not including accounts funded exclusively by deductions from participant’s pay. One of the executive officers retired in December 2015 and received a lump sum payment of $27 million in 2016. PT-FI Plan. PT-FI has a defined benefit pension plan denominated in Indonesian rupiah covering substantially all of its Indonesian national employees. PT-FI funds the plan and invests the assets in accordance with Indonesian pension guidelines. The pension obligation was valued at an exchange rate of 13,369 rupiah to one U.S. dollar on December 31, 2016 , and 13,726 rupiah to one U.S. dollar on December 31, 2015 . Indonesian labor laws require that companies provide a minimum level of benefits to employees upon employment termination based on the reason for termination and the employee’s years of service. PT-FI’s pension benefit disclosures include benefits related to this law. PT-FI’s expected rate of return on plan assets is evaluated at least annually, taking into consideration its long-range estimated return for the plan based on the asset mix. Based on these factors, PT-FI expects its pension assets will earn an average of 7.75 percent per annum beginning January 1, 2017. The discount rate assumption for PT-FI's plan is based on the Mercer Indonesian zero coupon bond yield curve derived from the Indonesian Government Security Yield Curve. Changes in the discount rate are reflected in PT-FI's benefit obligation and, therefore, in future pension costs. Plan Information. FCX uses a measurement date of December 31 for its plans. Information for those plans where the accumulated benefit obligations exceed the fair value of plan assets follows: December 31, 2016 2015 Projected benefit obligation $ 2,127 $ 2,139 Accumulated benefit obligation 2,014 2,037 Fair value of plan assets 1,312 1,399 Information on the FCX (including FMC’s plans) and PT-FI plans as of December 31 follows: FCX PT-FI 2016 2015 2016 2015 Change in benefit obligation: Benefit obligation at beginning of year $ 2,104 $ 2,179 $ 318 $ 318 Service cost 27 36 27 26 Interest cost 93 87 29 23 Actuarial losses (gains) 92 (118 ) 2 (7 ) Foreign exchange (gains) losses (4 ) (2 ) 8 (32 ) Special retirement benefits a — 22 — — Benefits paid (177 ) (100 ) (10 ) (10 ) Benefit obligation at end of year 2,135 2,104 374 318 Change in plan assets: Fair value of plan assets at beginning of year 1,379 1,416 204 185 Actual return on plan assets 88 (26 ) 47 6 Employer contributions b 42 90 38 42 Foreign exchange (losses) gains (3 ) (1 ) 5 (19 ) Benefits paid (177 ) (100 ) (10 ) (10 ) Fair value of plan assets at end of year 1,329 1,379 284 204 Funded status $ (806 ) $ (725 ) $ (90 ) $ (114 ) Accumulated benefit obligation $ 2,022 $ 2,001 $ 225 $ 175 Weighted-average assumptions used to determine benefit obligations: Discount rate 4.40 % 4.60 % 8.25 % 9.00 % Rate of compensation increase 3.25 % 3.25 % 8.00 % 9.40 % Balance sheet classification of funded status: Other assets $ 9 $ 8 $ — $ — Accounts payable and accrued liabilities (4 ) (35 ) — — Other liabilities (811 ) (698 ) (90 ) (114 ) Total $ (806 ) $ (725 ) $ (90 ) $ (114 ) a. Resulted from the 2015 revised mine operating plans and reductions in the workforce (refer to Note 5 for further discussion). b. Employer contributions for 2017 are expected to approximate $140 million for the FCX plans and $32 million for the PT-FI plan (based on a December 31, 2016 , exchange rate of 13,369 Indonesian rupiah to one U.S. dollar). The weighted-average assumptions used to determine net periodic benefit cost and the components of net periodic benefit cost for FCX’s pension plans for the years ended December 31 follow: 2016 2015 2014 Weighted-average assumptions: a Discount rate 4.60 % 4.10 % 5.00 % Expected return on plan assets 7.25 % 7.25 % 7.50 % Rate of compensation increase 3.25 % 3.25 % 3.75 % Service cost $ 27 $ 36 $ 30 Interest cost 93 87 92 Expected return on plan assets (96 ) (102 ) (98 ) Amortization of prior service credit — — (1 ) Amortization of net actuarial losses 42 45 28 Special retirement benefits — 22 — Net periodic benefit cost $ 66 $ 88 $ 51 a. The assumptions shown relate only to the FMC plans. The weighted-average assumptions used to determine net periodic benefit cost and the components of net periodic benefit cost for PT-FI’s pension plan for the years ended December 31 follow: 2016 2015 2014 Weighted-average assumptions: Discount rate 9.00 % 8.25 % 9.00 % Expected return on plan assets 7.75 % 7.75 % 7.75 % Rate of compensation increase 9.40 % 9.00 % 9.00 % Service cost $ 27 $ 26 $ 22 Interest cost 29 23 23 Expected return on plan assets (17 ) (14 ) (10 ) Amortization of prior service cost 3 3 3 Amortization of net actuarial loss 5 6 8 Net periodic benefit cost $ 47 $ 44 $ 46 Included in accumulated other comprehensive loss are the following amounts that have not been recognized in net periodic pension cost as of December 31: 2016 2015 Before Taxes After Taxes and Noncontrolling Interests Before Taxes After Taxes and Noncontrolling Interests Net actuarial loss $ 722 $ 466 $ 697 $ 426 Prior service costs 21 11 23 12 $ 743 $ 477 $ 720 $ 438 Actuarial losses in excess of 10 percent of the greater of the projected benefit obligation or market-related value of plan assets are amortized over the expected average remaining future service period of the current active participants. The amount expected to be recognized in 2017 net periodic pension cost for actuarial losses is $50 million . FCX does not expect to have any plan assets returned to it in 2017 . Plan assets are classified within a fair value 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), then to significant observable inputs (Level 2) and the lowest priority to significant unobservable inputs (Level 3). Effective January 1, 2016, FCX retrospectively adopted the ASU associated with investments for which fair value is measured using the 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 fair value for pension plan assets associated with the FCX plans follows: Fair Value at December 31, 2016 Total NAV Level 1 Level 2 Level 3 Commingled/collective funds: Global equity $ 420 $ 420 $ — $ — $ — Fixed income securities 129 129 — — — Global fixed income securities 107 107 — — — Real estate property 72 72 — — — Emerging markets equity 66 66 — — — U.S. small-cap equity 60 60 — — — International small-cap equity 51 51 — — — U.S. real estate securities 42 42 — — — Short-term investments 17 17 — — — Fixed income: Government bonds 160 — — 160 — Corporate bonds 141 — — 141 — Private equity investments 25 25 — — — Other investments 36 — 1 35 — Total investments 1,326 $ 989 $ 1 $ 336 $ — Cash and receivables 4 Payables (1 ) Total pension plan net assets $ 1,329 Fair Value at December 31, 2015 Total NAV Level 1 Level 2 Level 3 Commingled/collective funds: Global equity $ 399 $ 399 $ — $ — $ — Fixed income securities 129 129 — — — Global fixed income securities 101 101 — — — Real estate property 66 66 — — — Emerging markets equity 60 60 — — — U.S. small-cap equity 56 56 — — — International small-cap equity 56 56 — — — U.S. real estate securities 55 55 — — — Short-term investments 25 25 — — — Fixed income: Government bonds 215 — — 215 — Corporate bonds 145 — — 145 — Private equity investments 31 31 — — — Other investments 39 — 1 38 — Total investments 1,377 $ 978 $ 1 $ 398 $ — Cash and receivables 6 Payables (4 ) Total pension plan net assets $ 1,379 Following is a description of the pension plan asset categories and the valuation techniques used to measure fair value. There have been no changes to the techniques used to measure fair value. Commingled/collective funds are managed by several fund managers and are valued at the NAV per unit of the fund. For most of these funds, the majority of the underlying assets are actively traded securities. These funds (except the real estate property fund) require up to a 60-day notice for redemptions. The real estate property fund is valued at NAV using information from independent appraisal firms, who have knowledge and expertise about the current market values of real property in the same vicinity as the investments. Redemptions of the real estate property fund are allowed once per quarter, subject to available cash. Fixed income investments include government and corporate bonds held directly by the Master Trust. Fixed income securities are valued using a bid-evaluation price or a mid-evaluation price and, as such, are classified within Level 2 of the fair value hierarchy. 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. Private equity investments are valued at NAV using information from general partners and have inherent restrictions on redemptions that may affect the ability to sell the investments at their NAV in the near term. A summary of the fair value hierarchy for pension plan assets associated with the PT-FI plan follows: Fair Value at December 31, 2016 Total Level 1 Level 2 Level 3 Government bonds $ 78 $ 78 $ — $ — Common stocks 72 72 — — Mutual funds 16 16 — — Total investments 166 $ 166 $ — $ — Cash and receivables a 119 Payables (1 ) Total pension plan net assets $ 284 Fair Value at December 31, 2015 Total Level 1 Level 2 Level 3 Common stocks $ 43 $ 43 $ — $ — Government bonds 41 41 — — Mutual funds 12 12 — — Total investments 96 $ 96 $ — $ — Cash and receivables a 108 Total pension plan net assets $ 204 a. Cash consists primarily of short-term time deposits. Following is a description of the valuation techniques used for pension plan assets measured at fair value associated with the PT-FI plan. There have been no changes to the techniques used to measure fair value. Common stocks, government bonds and mutual funds 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. The techniques described above may produce a fair value calculation that may not be indicative of NRV 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 the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. The expected benefit payments for FCX’s and PT-FI’s pension plans follow: FCX PT-FI a 2017 $ 109 $ 29 2018 146 16 2019 113 30 2020 115 38 2021 117 40 2022 through 2026 623 292 a. Based on a December 31, 2016 , exchange rate of 13,369 Indonesian rupiah to one U.S. dollar. Postretirement and Other Benefits. FCX also provides postretirement medical and life insurance benefits for certain U.S. employees and, in some cases, employees of certain international subsidiaries. These postretirement benefits vary among plans, and many plans require contributions from retirees. The expected cost of providing such postretirement benefits is accrued during the years employees render service. The benefit obligation (funded status) for the postretirement medical and life insurance benefit plans consisted of a current portion of $16 million (included in accounts payable and accrued liabilities) and a long-term portion of $138 million (included in other liabilities) at December 31, 2016 , and a current portion of $15 million and a long-term portion of $144 million at December 31, 2015 . The discount rate used to determine the benefit obligation for these plans, which was determined on the same basis as FCX's pension plans, was 3.80 percent at December 31, 2016 , and 4.10 percent at December 31, 2015 . Expected benefit payments for these plans total $16 million for 2017 , $15 million for 2018 , $15 million for 2019 , $14 million for 2020 , $13 million for 2021 and $55 million for 2022 through 2026 . The net periodic benefit cost charged to operations for FCX's postretirement benefits totaled $4 million in 2016 , $6 million in 2015 and $7 million in 2014 (primarily for interest costs). The discount rate used to determine net periodic benefit cost and the components of net periodic benefit cost for FCX’s postretirement benefits was 4.10 percent in 2016 , 3.60 percent in 2015 and 4.30 percent in 2014 . The medical-care trend rates assumed the first year trend rate was 8.00 percent at December 31, 2016 , which declines over the next 15 years with an ultimate trend rate of 4.25 percent . FCX has a number of postemployment plans covering severance, long-term disability income, continuation of health and life insurance coverage for disabled employees or other welfare benefits. The accumulated postemployment benefit consisted of a current portion of $5 million (included in accounts payable and accrued liabilities) and a long-term portion of $34 million (included in other liabilities) at December 31, 2016 , and a current portion of $4 million and a long-term portion of $30 million at December 31, 2015 . In connection with the retirement of one of its executive officers in December 2015, FCX recorded a charge to selling, general and administrative expenses of $16 million . FCX also sponsors savings plans for the majority of its U.S. employees. The plans allow employees to contribute a portion of their pre-tax income in accordance with specified guidelines. These savings plans are principally qualified 401(k) plans for all U.S. salaried and non-bargained hourly employees. In these plans, participants exercise control and direct the investment of their contributions and account balances among various investment options. FCX contributes to these plans at varying rates and matches a percentage of employee pre-tax deferral contributions up to certain limits, which vary by plan. For employees whose eligible compensation exceeds certain levels, FCX provides an unfunded defined contribution plan, which had a liability balance of $47 million (all of which was included in other liabilities) at December 31, 2016 , and $78 million ( $35 million included in accounts payable and accrued liabilities and $43 million included in other liabilities) at December 31, 2015 . The costs charged to operations for employee savings plans totaled $78 million in 2016 (of which $4 million was capitalized to oil and gas properties), $98 million in 2015 (of which $13 million was capitalized to oil and gas properties) and $79 million in 2014 (of which $11 million was capitalized to oil and gas properties). FCX has other employee benefit plans, certain of which are related to FCX’s financial results, which are recognized in operating costs. Restructuring Charges. In early 2016, FCX restructured its oil and gas business to reduce costs and in late 2016, FCX sold the majority of its remaining oil and gas properties. As a result, FCX recorded $85 million to selling, general and administrative expenses and $6 million to production costs for net restructuring-related costs in 2016. Because of a decline in commodity prices, FCX made adjustments to its operating plans for its mining operations in 2015 (refer to Note 5 for further discussion). As a result of these revisions to its mining operating plans, FCX recorded restructuring charges to production costs in 2015 of $45 million primarily for employee severance and benefit costs, and $22 million for special retirement benefits.
Employee Benefits	OTHER LIABILITIES, INCLUDING EMPLOYEE BENEFITS The components of other liabilities follow: December 31, 2016 2015 Pension, postretirement, postemployment and other employment benefits a $ 1,345 $ 1,260 Provision for tax positions 167 152 Legal matters 77 77 Insurance claim reserves 51 59 Accrued oil and gas contract commitments 43 — Other 62 93 Total other liabilities $ 1,745 $ 1,641 a. Refer to Note 7 for current portion. Pension Plans. Following is a discussion of FCX’s pension plans. FMC Plans. FMC has U.S. trusteed, non-contributory pension plans covering substantially all of its U.S. employees and some employees of its international subsidiaries hired before 2007. The applicable FMC plan design determines the manner in which benefits are calculated for any particular group of employees. Benefits are calculated based on final average monthly compensation and years of service or based on a fixed amount for each year of service. Non-bargained FMC employees hired after December 31, 2006, are not eligible to participate in the FMC U.S. pension plan. FCX’s funding policy for these plans provides that contributions to pension trusts shall be at least equal to the minimum funding requirements of the Employee Retirement Income Security Act of 1974, as amended, for U.S. plans; or, in the case of international plans, the minimum legal requirements that may be applicable in the various countries. Additional contributions also may be made from time to time. FCX’s policy for determining asset-mix targets for the FMC plan assets held in a master trust (Master Trust) includes the periodic development of asset and liability studies to determine expected long-term rates of return and expected risk for various investment portfolios. FCX’s retirement plan administration and investment committee considers these studies in the formal establishment of asset-mix targets. FCX’s investment objective emphasizes the need to maintain a well-diversified investment program through both the allocation of the Master Trust assets among asset classes and the selection of investment managers whose various styles are fundamentally complementary to one another and serve to achieve satisfactory rates of return. Diversification, by asset class and by investment manager, is FCX’s principal means of reducing volatility and exercising prudent investment judgment. FCX’s present target asset allocation approximates 46 percent equity investments (primarily global equities), 43 percent fixed income (primarily long-term treasury STRIPS or "separate trading or registered interest and principal securities"; long-term U.S. treasury/agency bonds; global fixed income securities; long-term, high-credit quality corporate bonds; high-yield and emerging markets fixed income securities; and fixed income debt securities) and 11 percent alternative investments (private real estate, real estate investment trusts and private equity). The expected rate of return on plan assets is evaluated at least annually, taking into consideration asset allocation, historical returns on the types of assets held in the Master Trust and the current economic environment. Based on these factors, FCX expects the pension assets will earn an average of 7.0 percent per annum beginning January 1, 2017. The 7.0 percent estimation was based on a passive return on a compound basis of 6.5 percent and a premium for active management of 0.5 percent reflecting the target asset allocation and current investment array. For estimation purposes, FCX assumes the long-term asset mix for these plans generally will be consistent with the current mix. Changes in the asset mix could impact the amount of recorded pension income or expense, the funded status of the plans and the need for future cash contributions. A lower-than-expected return on assets also would decrease plan assets and increase the amount of recorded pension expense in future years. When calculating the expected return on plan assets, FCX uses the market value of assets. Among the assumptions used to estimate the pension benefit obligation is a discount rate used to calculate the present value of expected future benefit payments for service to date. The discount rate assumption for FCX’s U.S. plans is designed to reflect yields on high-quality, fixed-income investments for a given duration. The determination of the discount rate for these plans is based on expected future benefit payments for service to date together with the Mercer Pension Discount Curve - Above Mean Yield. The Mercer Pension Discount Curve - Above Mean Yield is constructed from the bonds in the Mercer Pension Discount Curve that have a yield higher than the regression mean yield curve. The Mercer Pension Discount Curve consists of spot ( i.e. , zero coupon) interest rates at one-half year increments for each of the next 30 years and is developed based on pricing and yield information for high-quality corporate bonds. Changes in the discount rate are reflected in FCX’s benefit obligation and, therefore, in future pension costs. Other FCX Plans. In 2004, FCX established an unfunded Supplemental Executive Retirement Plan (SERP) for its two most senior executive officers. The SERP provides for retirement benefits payable in the form of a joint and survivor annuity or an equivalent lump sum, which is determined on January 1 of the year in which the participant completed 25 years of credited service. The annuity will equal a percentage of the executive’s highest average compensation for any consecutive three-year period during the five years immediately preceding 25 years of credited service. The SERP benefit will be reduced by the value of all benefits paid or due under any defined benefit or defined contribution plan sponsored by FM Services Company, FCX’s wholly owned subsidiary, FCX or its predecessor, but not including accounts funded exclusively by deductions from participant’s pay. One of the executive officers retired in December 2015 and received a lump sum payment of $27 million in 2016. PT-FI Plan. PT-FI has a defined benefit pension plan denominated in Indonesian rupiah covering substantially all of its Indonesian national employees. PT-FI funds the plan and invests the assets in accordance with Indonesian pension guidelines. The pension obligation was valued at an exchange rate of 13,369 rupiah to one U.S. dollar on December 31, 2016 , and 13,726 rupiah to one U.S. dollar on December 31, 2015 . Indonesian labor laws require that companies provide a minimum level of benefits to employees upon employment termination based on the reason for termination and the employee’s years of service. PT-FI’s pension benefit disclosures include benefits related to this law. PT-FI’s expected rate of return on plan assets is evaluated at least annually, taking into consideration its long-range estimated return for the plan based on the asset mix. Based on these factors, PT-FI expects its pension assets will earn an average of 7.75 percent per annum beginning January 1, 2017. The discount rate assumption for PT-FI's plan is based on the Mercer Indonesian zero coupon bond yield curve derived from the Indonesian Government Security Yield Curve. Changes in the discount rate are reflected in PT-FI's benefit obligation and, therefore, in future pension costs. Plan Information. FCX uses a measurement date of December 31 for its plans. Information for those plans where the accumulated benefit obligations exceed the fair value of plan assets follows: December 31, 2016 2015 Projected benefit obligation $ 2,127 $ 2,139 Accumulated benefit obligation 2,014 2,037 Fair value of plan assets 1,312 1,399 Information on the FCX (including FMC’s plans) and PT-FI plans as of December 31 follows: FCX PT-FI 2016 2015 2016 2015 Change in benefit obligation: Benefit obligation at beginning of year $ 2,104 $ 2,179 $ 318 $ 318 Service cost 27 36 27 26 Interest cost 93 87 29 23 Actuarial losses (gains) 92 (118 ) 2 (7 ) Foreign exchange (gains) losses (4 ) (2 ) 8 (32 ) Special retirement benefits a — 22 — — Benefits paid (177 ) (100 ) (10 ) (10 ) Benefit obligation at end of year 2,135 2,104 374 318 Change in plan assets: Fair value of plan assets at beginning of year 1,379 1,416 204 185 Actual return on plan assets 88 (26 ) 47 6 Employer contributions b 42 90 38 42 Foreign exchange (losses) gains (3 ) (1 ) 5 (19 ) Benefits paid (177 ) (100 ) (10 ) (10 ) Fair value of plan assets at end of year 1,329 1,379 284 204 Funded status $ (806 ) $ (725 ) $ (90 ) $ (114 ) Accumulated benefit obligation $ 2,022 $ 2,001 $ 225 $ 175 Weighted-average assumptions used to determine benefit obligations: Discount rate 4.40 % 4.60 % 8.25 % 9.00 % Rate of compensation increase 3.25 % 3.25 % 8.00 % 9.40 % Balance sheet classification of funded status: Other assets $ 9 $ 8 $ — $ — Accounts payable and accrued liabilities (4 ) (35 ) — — Other liabilities (811 ) (698 ) (90 ) (114 ) Total $ (806 ) $ (725 ) $ (90 ) $ (114 ) a. Resulted from the 2015 revised mine operating plans and reductions in the workforce (refer to Note 5 for further discussion). b. Employer contributions for 2017 are expected to approximate $140 million for the FCX plans and $32 million for the PT-FI plan (based on a December 31, 2016 , exchange rate of 13,369 Indonesian rupiah to one U.S. dollar). The weighted-average assumptions used to determine net periodic benefit cost and the components of net periodic benefit cost for FCX’s pension plans for the years ended December 31 follow: 2016 2015 2014 Weighted-average assumptions: a Discount rate 4.60 % 4.10 % 5.00 % Expected return on plan assets 7.25 % 7.25 % 7.50 % Rate of compensation increase 3.25 % 3.25 % 3.75 % Service cost $ 27 $ 36 $ 30 Interest cost 93 87 92 Expected return on plan assets (96 ) (102 ) (98 ) Amortization of prior service credit — — (1 ) Amortization of net actuarial losses 42 45 28 Special retirement benefits — 22 — Net periodic benefit cost $ 66 $ 88 $ 51 a. The assumptions shown relate only to the FMC plans. The weighted-average assumptions used to determine net periodic benefit cost and the components of net periodic benefit cost for PT-FI’s pension plan for the years ended December 31 follow: 2016 2015 2014 Weighted-average assumptions: Discount rate 9.00 % 8.25 % 9.00 % Expected return on plan assets 7.75 % 7.75 % 7.75 % Rate of compensation increase 9.40 % 9.00 % 9.00 % Service cost $ 27 $ 26 $ 22 Interest cost 29 23 23 Expected return on plan assets (17 ) (14 ) (10 ) Amortization of prior service cost 3 3 3 Amortization of net actuarial loss 5 6 8 Net periodic benefit cost $ 47 $ 44 $ 46 Included in accumulated other comprehensive loss are the following amounts that have not been recognized in net periodic pension cost as of December 31: 2016 2015 Before Taxes After Taxes and Noncontrolling Interests Before Taxes After Taxes and Noncontrolling Interests Net actuarial loss $ 722 $ 466 $ 697 $ 426 Prior service costs 21 11 23 12 $ 743 $ 477 $ 720 $ 438 Actuarial losses in excess of 10 percent of the greater of the projected benefit obligation or market-related value of plan assets are amortized over the expected average remaining future service period of the current active participants. The amount expected to be recognized in 2017 net periodic pension cost for actuarial losses is $50 million . FCX does not expect to have any plan assets returned to it in 2017 . Plan assets are classified within a fair value 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), then to significant observable inputs (Level 2) and the lowest priority to significant unobservable inputs (Level 3). Effective January 1, 2016, FCX retrospectively adopted the ASU associated with investments for which fair value is measured using the 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 fair value for pension plan assets associated with the FCX plans follows: Fair Value at December 31, 2016 Total NAV Level 1 Level 2 Level 3 Commingled/collective funds: Global equity $ 420 $ 420 $ — $ — $ — Fixed income securities 129 129 — — — Global fixed income securities 107 107 — — — Real estate property 72 72 — — — Emerging markets equity 66 66 — — — U.S. small-cap equity 60 60 — — — International small-cap equity 51 51 — — — U.S. real estate securities 42 42 — — — Short-term investments 17 17 — — — Fixed income: Government bonds 160 — — 160 — Corporate bonds 141 — — 141 — Private equity investments 25 25 — — — Other investments 36 — 1 35 — Total investments 1,326 $ 989 $ 1 $ 336 $ — Cash and receivables 4 Payables (1 ) Total pension plan net assets $ 1,329 Fair Value at December 31, 2015 Total NAV Level 1 Level 2 Level 3 Commingled/collective funds: Global equity $ 399 $ 399 $ — $ — $ — Fixed income securities 129 129 — — — Global fixed income securities 101 101 — — — Real estate property 66 66 — — — Emerging markets equity 60 60 — — — U.S. small-cap equity 56 56 — — — International small-cap equity 56 56 — — — U.S. real estate securities 55 55 — — — Short-term investments 25 25 — — — Fixed income: Government bonds 215 — — 215 — Corporate bonds 145 — — 145 — Private equity investments 31 31 — — — Other investments 39 — 1 38 — Total investments 1,377 $ 978 $ 1 $ 398 $ — Cash and receivables 6 Payables (4 ) Total pension plan net assets $ 1,379 Following is a description of the pension plan asset categories and the valuation techniques used to measure fair value. There have been no changes to the techniques used to measure fair value. Commingled/collective funds are managed by several fund managers and are valued at the NAV per unit of the fund. For most of these funds, the majority of the underlying assets are actively traded securities. These funds (except the real estate property fund) require up to a 60-day notice for redemptions. The real estate property fund is valued at NAV using information from independent appraisal firms, who have knowledge and expertise about the current market values of real property in the same vicinity as the investments. Redemptions of the real estate property fund are allowed once per quarter, subject to available cash. Fixed income investments include government and corporate bonds held directly by the Master Trust. Fixed income securities are valued using a bid-evaluation price or a mid-evaluation price and, as such, are classified within Level 2 of the fair value hierarchy. 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. Private equity investments are valued at NAV using information from general partners and have inherent restrictions on redemptions that may affect the ability to sell the investments at their NAV in the near term. A summary of the fair value hierarchy for pension plan assets associated with the PT-FI plan follows: Fair Value at December 31, 2016 Total Level 1 Level 2 Level 3 Government bonds $ 78 $ 78 $ — $ — Common stocks 72 72 — — Mutual funds 16 16 — — Total investments 166 $ 166 $ — $ — Cash and receivables a 119 Payables (1 ) Total pension plan net assets $ 284 Fair Value at December 31, 2015 Total Level 1 Level 2 Level 3 Common stocks $ 43 $ 43 $ — $ — Government bonds 41 41 — — Mutual funds 12 12 — — Total investments 96 $ 96 $ — $ — Cash and receivables a 108 Total pension plan net assets $ 204 a. Cash consists primarily of short-term time deposits. Following is a description of the valuation techniques used for pension plan assets measured at fair value associated with the PT-FI plan. There have been no changes to the techniques used to measure fair value. Common stocks, government bonds and mutual funds 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. The techniques described above may produce a fair value calculation that may not be indicative of NRV 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 the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. The expected benefit payments for FCX’s and PT-FI’s pension plans follow: FCX PT-FI a 2017 $ 109 $ 29 2018 146 16 2019 113 30 2020 115 38 2021 117 40 2022 through 2026 623 292 a. Based on a December 31, 2016 , exchange rate of 13,369 Indonesian rupiah to one U.S. dollar. Postretirement and Other Benefits. FCX also provides postretirement medical and life insurance benefits for certain U.S. employees and, in some cases, employees of certain international subsidiaries. These postretirement benefits vary among plans, and many plans require contributions from retirees. The expected cost of providing such postretirement benefits is accrued during the years employees render service. The benefit obligation (funded status) for the postretirement medical and life insurance benefit plans consisted of a current portion of $16 million (included in accounts payable and accrued liabilities) and a long-term portion of $138 million (included in other liabilities) at December 31, 2016 , and a current portion of $15 million and a long-term portion of $144 million at December 31, 2015 . The discount rate used to determine the benefit obligation for these plans, which was determined on the same basis as FCX's pension plans, was 3.80 percent at December 31, 2016 , and 4.10 percent at December 31, 2015 . Expected benefit payments for these plans total $16 million for 2017 , $15 million for 2018 , $15 million for 2019 , $14 million for 2020 , $13 million for 2021 and $55 million for 2022 through 2026 . The net periodic benefit cost charged to operations for FCX's postretirement benefits totaled $4 million in 2016 , $6 million in 2015 and $7 million in 2014 (primarily for interest costs). The discount rate used to determine net periodic benefit cost and the components of net periodic benefit cost for FCX’s postretirement benefits was 4.10 percent in 2016 , 3.60 percent in 2015 and 4.30 percent in 2014 . The medical-care trend rates assumed the first year trend rate was 8.00 percent at December 31, 2016 , which declines over the next 15 years with an ultimate trend rate of 4.25 percent . FCX has a number of postemployment plans covering severance, long-term disability income, continuation of health and life insurance coverage for disabled employees or other welfare benefits. The accumulated postemployment benefit consisted of a current portion of $5 million (included in accounts payable and accrued liabilities) and a long-term portion of $34 million (included in other liabilities) at December 31, 2016 , and a current portion of $4 million and a long-term portion of $30 million at December 31, 2015 . In connection with the retirement of one of its executive officers in December 2015, FCX recorded a charge to selling, general and administrative expenses of $16 million . FCX also sponsors savings plans for the majority of its U.S. employees. The plans allow employees to contribute a portion of their pre-tax income in accordance with specified guidelines. These savings plans are principally qualified 401(k) plans for all U.S. salaried and non-bargained hourly employees. In these plans, participants exercise control and direct the investment of their contributions and account balances among various investment options. FCX contributes to these plans at varying rates and matches a percentage of employee pre-tax deferral contributions up to certain limits, which vary by plan. For employees whose eligible compensation exceeds certain levels, FCX provides an unfunded defined contribution plan, which had a liability balance of $47 million (all of which was included in other liabilities) at December 31, 2016 , and $78 million ( $35 million included in accounts payable and accrued liabilities and $43 million included in other liabilities) at December 31, 2015 . The costs charged to operations for employee savings plans totaled $78 million in 2016 (of which $4 million was capitalized to oil and gas properties), $98 million in 2015 (of which $13 million was capitalized to oil and gas properties) and $79 million in 2014 (of which $11 million was capitalized to oil and gas properties). FCX has other employee benefit plans, certain of which are related to FCX’s financial results, which are recognized in operating costs. Restructuring Charges. In early 2016, FCX restructured its oil and gas business to reduce costs and in late 2016, FCX sold the majority of its remaining oil and gas properties. As a result, FCX recorded $85 million to selling, general and administrative expenses and $6 million to production costs for net restructuring-related costs in 2016. Because of a decline in commodity prices, FCX made adjustments to its operating plans for its mining operations in 2015 (refer to Note 5 for further discussion). As a result of these revisions to its mining operating plans, FCX recorded restructuring charges to production costs in 2015 of $45 million primarily for employee severance and benefit costs, and $22 million for special retirement benefits.

STOCKHOLDERS' EQUITY AND STOCK-

STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION (Notes)	12 Months Ended
	Dec. 31, 2016
Stockholders' Equity Note [Abstract]
Stockholders' Equity and Stock-Based Compensation	STOCKHOLDERS’ EQUITY AND STOCK-BASED COMPENSATION FCX’s authorized shares of capital stock total 3.05 billion shares, consisting of 3 billion shares of common stock and 50 million shares of preferred stock. Common Stock. In November 2016, FCX completed a $1.5 billion registered at-the-market equity offering of common stock that was announced on July 27, 2016. FCX sold 116.5 million shares of its common stock at an average price of $12.87 per share, which generated gross proceeds of $1.5 billion (net proceeds of $1.48 billion after $15 million of commissions and expenses). During 2016, FCX issued 48.1 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. Also during 2016, FCX negotiated private exchange transactions exempt from registration under the Securities Act of 1933, as amended, whereby 27.7 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. In September 2015, FCX completed a $1.0 billion at-the-market equity program and announced an additional $1.0 billion at-the-market equity program. Through December 31, 2015, FCX sold 205.7 million shares of its common stock at an average price of $9.53 per share under these programs, which generated gross proceeds of $1.96 billion (net proceeds of $1.94 billion after $20 million of commissions and expenses). From January 1, 2016, through January 5, 2016, FCX sold 4.3 million shares of its common stock, which generated proceeds of $29 million (after $0.3 million of commissions and expenses). FCX used the proceeds to repay indebtedness. The Board declared a one-time special cash dividend of $0.1105 per share related to the settlement of the shareholder derivative litigation (refer to Note 12 for further discussion), which was paid in August 2015. In response to the impact of lower commodity prices, the Board authorized a decrease in the cash dividend on FCX’s common stock from an annual rate of $1.25 per share to an annual rate of $0.20 per share in March 2015, and then suspended the cash dividend in December 2015. The declaration of dividends is at the discretion of the Board and will depend on FCX's financial results, cash requirements, future prospects and other factors deemed relevant by the Board. Under its revolving credit facility, as amended, FCX is not permitted to pay dividends on common stock on or prior to March 31, 2017. Accumulated Other Comprehensive Loss. A summary of changes in the balances of each component of accumulated other comprehensive loss, net of tax, follows: Defined Benefit Plans Unrealized Losses on Securities Translation Adjustment Total Balance at January 1, 2014 $ (410 ) $ (5 ) $ 10 $ (405 ) Amounts arising during the period a,b (162 ) (1 ) — (163 ) Amounts reclassified c 24 — — 24 Balance at December 31, 2014 (548 ) (6 ) 10 (544 ) Amounts arising during the period a,b 3 — — 3 Amounts reclassified c 38 — — 38 Balance at December 31, 2015 (507 ) (6 ) 10 (503 ) Amounts arising during the period a,b (91 ) 2 — (89 ) Amounts reclassified c 44 — — 44 Balance at December 31, 2016 $ (554 ) $ (4 ) $ 10 $ (548 ) a. Includes net actuarial losses, net of noncontrolling interest, totaling $252 million for 2014 , $7 million for 2015 and $79 million for 2016 . b. Includes tax benefits (provision) totaling $89 million for 2014 , $2 million for 2015 and $(11) million for 2016 . c. Includes amortization primarily related to actuarial losses, net of taxes, of $14 million for 2014 , $16 million for 2015 and $4 million for 2016 . Stock Award Plans. FCX currently has awards outstanding under various stock-based compensation plans. The stockholder-approved 2016 Stock Incentive Plan (the 2016 Plan) provides for the issuance of stock options, SARs, restricted stock, RSUs, PSUs and other stock-based awards for up to 72 million common shares. As of December 31, 2016 , 71.9 million shares were available for grant under the 2016 Plan, and no shares were available under other plans. Stock-Based Compensation Cost. Compensation cost charged against earnings for stock-based awards for the years ended December 31 follows: 2016 2015 2014 Selling, general and administrative expenses $ 69 $ 67 $ 79 Production and delivery 16 17 26 Capitalized costs 4 11 23 Total stock-based compensation 89 95 128 Less capitalized costs (4 ) (11 ) (23 ) Tax benefit and noncontrolling interests' share (3 ) a (31 ) (41 ) Impact on net loss from continuing operations $ 82 $ 53 $ 64 a. Charges in the U.S. are not currently expected to generate a future tax benefit. Stock Options and SARs. Stock options granted under the plans generally expire 10 years after the date of grant and vest in 25 percent annual increments beginning one year from the date of grant. The award agreements provide that participants will receive the following year’s vesting upon retirement. Therefore, on the date of grant, FCX accelerates one year of amortization for retirement-eligible employees. Stock options granted prior to February 2012 provide for accelerated vesting if there is a change of control (as defined in the award agreements). Stock options granted after that date provide for accelerated vesting only upon certain qualifying terminations of employment within one year following a change of control. SARs generally expire within five years after the date of grant and vest in one-third annual increments beginning one year from the date of grant. SARs are similar to stock options, but are settled in cash rather than in shares of common stock and are classified as liability awards. A summary of options and SARs outstanding as of December 31, 2016 , including 1,034,153 SARs, and activity during the year ended December 31, 2016 , follows: Number of Options and SARs Weighted- Average Exercise Price Per Share Weighted- Average Remaining Contractual Term (years) Aggregate Intrinsic Value Balance at January 1 49,303,879 $ 34.10 Granted 7,167,000 4.35 Exercised (14,750 ) 12.12 Expired/Forfeited (2,661,894 ) 31.80 Balance at December 31 53,794,235 30.25 4.6 $ 66 Vested and exercisable at December 31 44,314,195 34.20 3.8 $ 14 The fair value of each stock option is estimated on the date of grant using the Black-Scholes-Merton option valuation model. The fair value of each SAR is determined using the Black-Scholes-Merton option valuation model and remeasured at each reporting date until the date of settlement. Expected volatility is based on implied volatilities from traded options on FCX’s common stock and historical volatility of FCX’s common stock. FCX uses historical data to estimate future option and SAR exercises, forfeitures and expected life. When appropriate, separate groups of employees who have similar historical exercise behavior are considered separately for valuation purposes. The expected dividend rate is calculated using the annual dividend (excluding supplemental dividends) at the date of grant. The risk-free interest rate is based on Federal Reserve rates in effect for bonds with maturity dates equal to the expected term of the option or SAR. Information related to stock options during the years ended December 31 follows: 2016 2015 2014 Weighted-average assumptions used to value stock option awards: Expected volatility 71.6 % 37.9 % 36.6 % Expected life of options (in years) 5.34 5.17 4.92 Expected dividend rate — 4.5 % 3.5 % Risk-free interest rate 1.3 % 1.7 % 1.7 % Weighted-average grant-date fair value (per share) $ 2.64 $ 4.30 $ 7.43 Intrinsic value of options exercised $ — a $ 1 $ 17 Fair value of options vested $ 43 $ 50 $ 76 a. Rounds to less than $1 million. As of December 31, 2016 , FCX had $19 million of total unrecognized compensation cost related to unvested stock options expected to be recognized over a weighted-average period of approximately 1.9 years . Stock-Settled PSUs and RSUs. Beginning in 2014, FCX's executive officers were granted PSUs that vest after three years. For the PSU's granted in 2016, the final number of shares to be issued to the executive officers will be determined based on (i) FCX's achievement of certain financial and operational performance metrics and (ii) FCX's total shareholder return compared to the shareholder return of a peer group. The total grant date target for the 2016 PSU grant was 1.5 million shares, of which the executive officers will earn (i) between 0 percent and 175 percent of the target shares based on achievement of financial and operating metrics and (ii) +/- 25 percent of the target shares based on FCX's total shareholder return compared to the peer group. For the PSU's granted to the executive officers in 2014 and 2015, the final number of shares to be issued to the executive officers will be based on FCX’s total shareholder return compared to the total shareholder return of a peer group. The total grant date target shares related to the PSU grants were 755 thousand in 2015 and 344 thousand in 2014, of which the executive officers will earn from 0 percent to 200 percent . All of FCX's executive officers are retirement eligible, and for the 2016, 2015 and 2014 awards, FCX charged the cost of the PSU awards to expense in the year of grant because they are non-forfeitable. FCX grants RSUs that vest over a period of three years to certain employees. FCX also grants RSU's to its directors. Beginning in December 2015, RSUs granted to directors vest on the first anniversary of the grant. Prior to December 2015, RSUs granted to directors generally vest over a period of four years. The fair value of the RSUs is amortized over the vesting period or the period until the director becomes retirement eligible, whichever is shorter. Upon a director’s retirement, all of their unvested RSUs immediately vest. For retirement-eligible directors, the fair value of RSUs is recognized in earnings on the date of grant. The award agreements provide for accelerated vesting of all RSUs held by directors if there is a change of control (as defined in the award agreements) and for accelerated vesting of all RSUs held by employees if they experience a qualifying termination within one year following a change of control. Dividends attributable to RSUs and PSUs accrue and are paid if the award vests. In addition, for those awards granted prior to 2015, interest accrues on accumulated dividends and is paid if the stock-settled RSUs vest. A summary of outstanding stock-settled RSUs and PSUs as of December 31, 2016 , and activity during the year ended December 31, 2016 , follows: Number of Awards Weighted-Average Grant-Date Fair Value Per Award Aggregate Intrinsic Value Balance at January 1 7,220,300 $ 27.12 Granted 3,557,366 a 10.46 Vested (3,042,860 ) 28.81 Forfeited (516,579 ) 25.91 Balance at December 31 7,218,227 18.08 $ 95 a. Excludes 993 thousand PSUs granted in 2016 for which the performance metrics have not yet been established. The total fair value of stock-settled RSUs and PSUs granted was $37 million during 2016 , $46 million during 2015 and $67 million during 2014 . The total intrinsic value of stock-settled RSUs vested was $22 million during both 2016 and 2015 and $15 million during 2014 . As of December 31, 2016 , FCX had $15 million of total unrecognized compensation cost related to unvested stock-settled RSUs expected to be recognized over approximately 1.9 years . Cash-Settled PSUs and RSUs. In 2015, certain members of FM O&G's senior management were granted cash-settled PSUs that vest over three years. The total grant date target related to the 2015 cash-settled PSU grant was 582 thousand shares, of which FM O&G's senior management will earn from 50 percent to 200 percent . Cash-settled RSUs are similar to stock-settled RSUs, but are settled in cash rather than in shares of common stock. These cash-settled RSUs generally vest over periods ranging from three to five years of service. The award agreements for cash-settled RSUs provide for accelerated vesting upon certain qualifying terminations of employment within one year following a change of control (as defined in the award agreements). The cash-settled PSUs and RSUs are classified as liability awards, and the fair value of these awards is remeasured each reporting period until the vesting dates. Dividends attributable to cash-settled RSUs and PSUs accrue and are paid if the award vests. In addition, for those awards granted prior to 2015, interest accrues on accumulated dividends and is paid if the cash-settled RSUs vest. A summary of outstanding cash-settled RSUs and PSUs as of December 31, 2016 , and activity during the year ended December 31, 2016 , follows: Number of Awards Weighted-Average Grant-Date Fair Value Per Award Aggregate Intrinsic Value Balance at January 1 4,612,536 $ 24.89 Granted 676,000 6.05 Vested (2,148,558 ) 25.83 Forfeited (608,234 ) 23.92 Balance at December 31 2,531,744 19.30 $ 33 The total grant-date fair value of cash-settled RSUs was $4 million during 2016 , $44 million during 2015 and $68 million during 2014 . The intrinsic value of cash-settled RSUs vested was $15 million during 2016 and $24 million during 2015. The accrued liability associated with cash-settled RSUs and PSUs consisted of a current portion of $23 million (included in accounts payable and accrued liabilities) and a long-term portion of $4 million (included in other liabilities) at December 31, 2016 , and a current portion of $10 million and a long-term portion of $8 million at December 31, 2015. Other Information. The following table includes amounts related to exercises of stock options and vesting of RSUs during the years ended December 31 : 2016 2015 2014 FCX shares tendered to pay the exercise price and/or the minimum required taxes a 906,120 349,122 474,480 Cash received from stock option exercises $ — b $ 3 $ 12 Actual tax benefit realized for tax deductions $ — b $ 11 $ 16 Amounts FCX paid for employee taxes $ 6 $ 7 $ 8 a. Under terms of the related plans, upon exercise of stock options and vesting of RSUs, employees may tender FCX shares to pay the exercise price and/or the minimum required taxes. b. Rounds to less than $1 million.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES Geographic sources of losses before income taxes and equity in affiliated companies’ net earnings (losses) for the years ended December 31 consist of the following: 2016 2015 2014 U.S. $ (5,179 ) $ (14,589 ) $ (2,973 ) Foreign 1,707 461 2,173 Total $ (3,472 ) $ (14,128 ) $ (800 ) Income taxes are provided on the earnings of FCX’s material foreign subsidiaries under the assumption that these earnings will be distributed. FCX has not provided deferred income taxes for other differences between the book and tax carrying amounts of its investments in material foreign subsidiaries as FCX considers its ownership positions to be permanent in duration, and quantification of the related deferred tax liability is not practicable. FCX’s (provision for) benefit from income taxes for the years ended December 31 consists of the following: 2016 2015 2014 Current income taxes: Federal $ 164 $ 89 $ (269 ) State 17 2 (34 ) Foreign (352 ) (160 ) (1,066 ) Total current (171 ) (69 ) (1,369 ) Deferred income taxes: Federal 137 3,403 616 State 41 154 214 Foreign (451 ) (163 ) (19 ) Total deferred (273 ) 3,394 811 Adjustments 13 a (1,374 ) b — Operating loss carryforwards 60 c — 333 c (Provision for) benefit from income taxes $ (371 ) $ 1,951 $ (225 ) a. Benefit related to changes in Peruvian tax rules. b. Adjustments include net provisions of $1.2 billion associated with an increase in the beginning of the year valuation allowance related to the impairment of U.S. oil and gas properties and $0.2 billion resulting from the termination of PT-FI's Delaware domestication. c. Benefit from the use of operating loss carryforwards. A reconciliation of the U.S. federal statutory tax rate to FCX’s effective income tax rate for the years ended December 31 follows: 2016 2015 2014 Amount Percent Amount Percent Amount Percent U.S. federal statutory tax rate $ 1,215 (35 )% $ 4,945 (35 )% $ 280 (35 )% Valuation allowance, net (1,680 ) a 48 (2,955 ) a 21 — — Foreign tax credit limitation (598 ) 17 (228 ) 2 (136 ) 17 Impairment of oil and gas properties 520 b (15 ) 0 — 0 — Percentage depletion 211 (6 ) 186 (1 ) 263 c (33 ) Withholding and other impacts on foreign earnings (93 ) 3 (193 ) 1 (161 ) 20 Effect of foreign rates different than the U.S. federal statutory rate 45 (1 ) 12 — 69 (9 ) Goodwill impairment — — — — (601 ) 75 Goodwill transferred to full cost pool — — — — (77 ) 10 State income taxes 46 a (1 ) 105 a (1 ) 116 (14 ) Other items, net (37 ) 1 79 (1 ) 22 (3 ) (Provision for) benefit from income taxes $ (371 ) d 11 % $ 1,951 (14 )% $ (225 ) e,f 28 % a. Includes tax charges totaling $1.6 billion in 2016 and $3.3 billion in 2015 as a result of the impairment to U.S. oil and gas properties to establish valuation allowances against U.S. federal and state deferred tax assets that will not generate a future benefit. b. Reflects a loss under U.S. federal income tax law related to the impairment of investments in oil and gas properties. c. Includes a net tax charge of $16 million in 2014 related to a change in U.S. federal income tax law. d. Includes a net tax benefit related to changes in Peruvian tax rules of $13 million . e. Includes a net tax charge of $221 million related to the sale of the Candelaria and Ojos del Salado mines. f. Includes tax charges related to changes in Chilean and Peruvian tax rules of $54 million and $24 million , respectively. FCX paid federal, state, local and foreign income taxes totaling $203 million in 2016 (including $27 million for discontinued operations), $893 million in 2015 (including $187 million for discontinued operations) and $1.5 billion in 2014 (including $11 million for discontinued operations). FCX received refunds of federal, state, local and foreign income taxes of $247 million in 2016 , $334 million in 2015 and $257 million in 2014 . The components of deferred taxes follow: December 31, 2016 2015 Deferred tax assets: Foreign tax credits $ 2,094 $ 1,552 Accrued expenses 923 1,167 Oil and gas properties 346 1,422 Minimum tax credits 444 569 Net operating loss carryforwards 2,898 621 Employee benefit plans 403 442 Other 485 478 Deferred tax assets 7,593 6,251 Valuation allowances (6,058 ) (4,183 ) Net deferred tax assets 1,535 2,068 Deferred tax liabilities: Property, plant, equipment and mine development costs (4,326 ) (4,765 ) Undistributed earnings (779 ) (852 ) Other (195 ) (55 ) Total deferred tax liabilities (5,300 ) (5,672 ) Net deferred tax liabilities $ (3,765 ) $ (3,604 ) Tax Attributes. At December 31, 2016 , FCX had U.S. foreign tax credit carryforwards of $2.1 billion that will expire between 2017 and 2026 , and U.S. minimum tax credit carryforwards of $444 million that can be carried forward indefinitely, but may be used only to the extent that regular tax exceeds the alternative minimum tax in any given year. At December 31, 2016 , FCX had (i) U.S. federal net operating loss carryforwards of $6.6 billion that expire in 2036 , (ii) U.S. federal capital loss carryforwards of $119 million that expire in 2021, (iii) U.S. state net operating loss carryforwards of $10.0 billion that expire between 2017 and 2036 and (iv) Spanish net operating loss carryforwards of $518 million that can be carried forward indefinitely. In addition, as of December 31, 2016, FCX has offset $5.3 billion of foreign source income with U.S. source losses. Under existing U.S. tax law, FCX has the ability to re-characterize $5.3 billion of future U.S. source income into foreign source income. While utilization of U.S. foreign tax credits is dependent upon FCX generating future U.S. tax liabilities within the carryforward period, this re-sourcing may permit FCX to utilize up to $1.9 billion of the $2.1 billion foreign tax credit carryforwards that would otherwise expire unused. The ability to re-characterize US sourced income into foreign sourced income carries forward indefinitely until such time as the $5.3 billion has been fully utilized. Valuation Allowance. On the basis of available information at December 31, 2016 , including positive and negative evidence, FCX has provided valuation allowances for certain of its deferred tax assets where it believes it is more likely than not that some portion or all of such assets will not be realized. Valuation allowances totaled $6.1 billion at December 31, 2016 , and covered all of FCX's U.S. foreign tax credit carryforwards, U.S. federal net operating loss carryforwards, U.S. federal capital loss carryforwards, foreign net operating loss carryforwards, and substantially all of FCX's U.S. minimum tax credit carryforwards and U.S. state net operating loss carryforwards. Valuation allowances totaled $4.2 billion at December 31, 2015 , and covered all of FCX's U.S. foreign tax credit carryforwards, U.S. minimum tax credit carryforwards, foreign net operating loss carryforwards, and substantially all of FCX's U.S. federal and state net operating loss carryforwards. The valuation allowance related to FCX’s U.S. foreign tax credits totaled $2.1 billion at December 31, 2016 . FCX has operations in tax jurisdictions where statutory income taxes and withholding taxes combine to fully offset U.S. federal income tax liability due upon repatriation of foreign earnings. As a result, FCX continues to generate foreign tax credits for which no benefit is expected to be realized. In addition, any foreign income taxes currently accrued or paid on unremitted foreign earnings may result in additional future foreign tax credits for which no benefit is expected to be realized upon repatriation of the related earnings. The valuation allowance related to FCX’s U.S. federal minimum tax credit carryforwards totaled $371 million at December 31, 2016 . U.S. minimum tax credit carryforwards can be carried forward indefinitely, but can only be used to the extent that U.S. regular tax liability exceeds U.S. alternative minimum tax liability in any given year. FCX does not currently expect to generate U.S. regular tax liability in excess of U.S. alternative minimum tax liability. A valuation allowance has not been provided against $72 million of U.S. federal minimum tax credits that FCX estimate are refundable during the three year period ending December 31, 2019. The valuation allowance related to FCX’s U.S. federal, state and foreign net operating loss carryforwards totaled $2.9 billion at December 31, 2016 . The valuation allowance related to FCX’s U.S. federal and state deferred tax assets totaled $574 million at December 31, 2016 . Deferred tax assets represent future deductions for which a benefit will only be realized to the extent these deductions offset future income. FCX develops an estimate of which future tax deductions will be realized and provides a valuation allowance to the extent these deductions are not realized in future periods. Valuation allowances will continue to be carried on U.S. foreign tax credit carryforwards, U.S. federal minimum tax credit carryforwards and U.S. federal, state and foreign net operating losses until such time that (i) FCX generates taxable income against which any of the assets or carryforwards can be used, (ii) forecasts of future income provide sufficient positive evidence to support reversal of the valuation allowances or (iii) FCX identifies a prudent and feasible means of securing the benefit of the assets or carryforwards that can be implemented. The $1.9 billion net increase in the valuation allowances during 2016 primarily related to a $1.6 billion increase to valuation allowances associated with impairments of U.S. oil and gas properties. Recent Events. In December 2016, the Peruvian parliament passed tax legislation that, in part, modified the applicable tax rates established in its December 2014 tax legislation, which progressively decreased the corporate income tax rate from 30 percent in 2014 to 26 percent in 2019 and thereafter, and also increased the dividend tax rate on distributions from 4.1 percent in 2014 to 9.3 percent in 2019 and thereafter. Under the December 2016 tax legislation, effective January 1, 2017, the corporate income tax rate is 29.5 percent , and the dividend tax rate on distributions of earnings is 5 percent . Cerro Verde's current mining stability agreement subjects FCX to a stable income tax rate of 32 percent through the expiration of the agreement on December 31, 2028. The tax rate on dividend distributions is not stabilized by the agreement. During 2015, PT-FI's Delaware domestication was terminated. As a result, PT-FI is no longer a U.S. income tax filer, and tax attributes related to PT-FI, which were fully reserved with a related valuation allowance, are no longer available for use in FCX's U.S. federal consolidated income tax return. There was no resulting net impact to FCX's consolidated statement of operations. PT-FI remains a limited liability company organized under Indonesian law. In September 2014, the Chilean legislature approved a tax reform package that implemented a dual tax system, which was amended in January 2016. Under previous rules, FCX’s share of income from Chilean operations was subject to an effective 35 percent tax rate allocated between income taxes and dividend withholding taxes. Under the amended tax reform package, FCX's Chilean operation is subject to the "Partially-Integrated System," resulting in FCX’s share of income from El Abra being subject to progressively increasing effective tax rates of 35 percent through 2019 and 44.5 percent in 2020 and thereafter. In 2010, the Chilean legislature approved an increase in mining royalty taxes to help fund earthquake reconstruction activities, education and health programs. Mining royalty taxes at FCX’s El Abra mine are 4 percent for the years 2013 through 2017. Beginning in 2018 and through 2023, rates will move to a sliding scale of 5 to 14 percent (depending on a defined operational margin). Uncertain Tax Positions. FCX accounts for uncertain income tax positions using a threshold and measurement criteria for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. FCX’s policy associated with uncertain tax positions is to record accrued interest in interest expense and accrued penalties in other income and expenses rather than in the provision for income taxes. A summary of the activities associated with FCX’s reserve for unrecognized tax benefits for the years ended December 31 follows: 2016 2015 2014 Balance at beginning of year $ 110 $ 104 $ 110 Additions: Prior year tax positions 5 7 4 Current year tax positions 28 11 11 Decreases: Prior year tax positions (3 ) (6 ) (12 ) Settlements with taxing authorities — — (9 ) Lapse of statute of limitations (39 ) (6 ) — Balance at end of year $ 101 $ 110 $ 104 The total amount of accrued interest associated with unrecognized tax benefits included in the consolidated balance sheets was $19 million at December 31, 2016 , $16 million at December 31, 2015 and $15 million at December 31, 2014. There were no penalties associated with unrecognized tax benefits for the three years ended December 31, 2016 . The reserve for unrecognized tax benefits of $101 million at December 31, 2016 , included $95 million ( $68 million net of income tax benefits and valuation allowances) that, if recognized, would reduce FCX’s provision for income taxes. Changes to the reserve for unrecognized tax benefits associated with current year tax positions were primarily related to uncertainties associated with FCX ' s cost recovery methods, benefits available from net operating losses and tax treatment of social welfare and debt payments. Changes in the reserve for unrecognized tax benefits associated with prior year tax positions were primarily related to uncertainties associated with cost recovery methods and deductibility of social welfare payments. Changes to the reserve for unrecognized tax benefits associated with the lapse of statute of limitations were primarily related to cost recovery methods. There continues to be uncertainty related to the timing of settlements with taxing authorities, but if additional settlements are agreed upon during the year 2017 , FCX could experience a change in its reserve for unrecognized tax benefits. FCX or its subsidiaries file income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. The tax years for FCX's major tax jurisdictions that remain subject to examination are as follows: Jurisdiction Years Subject to Examination Additional Open Years U.S. Federal 2013 2014-2016 Indonesia 2008, 2011, 2012, 2014, 2015 2013, 2016 Peru 2011 2012-2016 Chile 2013-2015 2016

CONTINGENCIES

CONTINGENCIES	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Contingencies	CONTINGENCIES Environmental. FCX subsidiaries are subject to various national, state and local environmental laws and regulations that govern emissions of air pollutants; discharges of water pollutants; generation, handling, storage and disposal of hazardous substances, hazardous wastes and other toxic materials; and remediation, restoration and reclamation of environmental contamination. FCX subsidiaries that operate in the U.S. also are subject to potential liabilities arising under CERCLA and similar state laws that impose responsibility on current and previous owners and operators of a facility for the remediation of hazardous substances released from the facility into the environment, including damages to natural resources, in some cases irrespective of when the damage to the environment occurred or who caused it. Remediation liability also extends to persons who arranged for the disposal of hazardous substances or transported the hazardous substances to a disposal site selected by the transporter. These liabilities are often shared on a joint and several basis, meaning that each responsible party is fully responsible for the remediation, if some or all of the other historical owners or operators no longer exist, do not have the financial ability to respond or cannot be found. As a result, because of FCX’s acquisition of FMC in 2007, many of the subsidiary companies FCX now owns are responsible for a wide variety of environmental remediation projects throughout the U.S., and FCX expects to spend substantial sums annually for many years to address those remediation issues. Certain FCX subsidiaries have been advised by the U.S. Environmental Protection Agency (EPA), the Department of the Interior, the Department of Agriculture and various state agencies that, under CERCLA or similar state laws and regulations, they may be liable for costs of responding to environmental conditions at a number of sites that have been or are being investigated to determine whether releases of hazardous substances have occurred and, if so, to develop and implement remedial actions to address environmental concerns. FCX is also subject to claims where the release of hazardous substances is alleged to have damaged natural resources (NRD) and to litigation by individuals allegedly exposed to hazardous substances. As of December 31, 2016 , FCX had more than 100 active remediation projects, including NRD claims, in 26 U.S. states. A summary of changes in estimated environmental obligations for the years ended December 31 follows: 2016 2015 2014 Balance at beginning of year $ 1,215 $ 1,174 $ 1,167 Accretion expense a 81 78 77 Additions 26 33 16 Reductions b (43 ) (3 ) (6 ) Spending (58 ) (67 ) (80 ) Balance at end of year 1,221 1,215 1,174 Less current portion (129 ) (100 ) (105 ) Long-term portion $ 1,092 $ 1,115 $ 1,069 a. Represents accretion of the fair value of environmental obligations assumed in the 2007 acquisition of FMC, which were determined on a discounted cash flow basis. b. Reductions primarily reflect revisions for changes in the anticipated scope and timing of projects and other noncash adjustments. Estimated future environmental cash payments (on an undiscounted and unescalated basis) total $129 million in 2017 , $108 million in 2018 , $90 million in 2019 , $95 million in 2020 , $103 million in 2021 and $1.8 billion thereafter. The amount and timing of these estimated payments will change as a result of changes in regulatory requirements, changes in scope and timing of remediation activities, the settlement of environmental matters and as actual spending occurs. At December 31, 2016 , FCX’s environmental obligations totaled $1.2 billion , including $1.1 billion recorded on a discounted basis for those obligations assumed in the FMC acquisition at fair value. On an undiscounted and unescalated basis, these obligations totaled $2.3 billion . FCX estimates it is reasonably possible that these obligations could range between $2.1 billion and $2.6 billion on an undiscounted and unescalated basis. At December 31, 2016 , the most significant environmental obligations were associated with the Pinal Creek site in Arizona; the Newtown Creek site in New York City; historical smelter sites principally located in Arizona, Kansas, New Jersey, Oklahoma and Pennsylvania; and uranium mining sites in the western U.S. The recorded environmental obligations for these sites totaled $1.1 billion at December 31, 2016 . FCX may also be subject to litigation brought by private parties, regulators and local governmental authorities related to these historical sites. A discussion of these sites follows. Pinal Creek. The Pinal Creek site was listed under the Arizona Department of Environmental Quality’s (ADEQ) Water Quality Assurance Revolving Fund program in 1989 for contamination in the shallow alluvial aquifers within the Pinal Creek drainage near Miami, Arizona. Since that time, environmental remediation was performed by members of the Pinal Creek Group (PCG), consisting of FMC Miami, Inc. (Miami), a wholly owned subsidiary of FCX, and two other companies. Pursuant to a 2010 settlement agreement, Miami agreed to take full responsibility for future groundwater remediation at the Pinal Creek site, with limited exceptions. Remediation work consisting of both capping (earthwork) and groundwater extraction and treatment continues and is expected to continue for many years in the future. Newtown Creek. From the 1930s until 1964, Phelps Dodge Refining Corporation (PDRC), a subsidiary of FCX, operated a copper smelter, and from the 1930s until 1984 operated a copper refinery, on the banks of Newtown Creek (the creek), which is a 3.5-mile-long waterway that forms part of the boundary between Brooklyn and Queens in New York City. Heavy industrialization along the banks of the creek and discharges from the City of New York’s sewer system over more than a century resulted in significant environmental contamination of the waterway. In 2010, EPA notified PDRC, four other companies and the City of New York that EPA considers them to be PRPs under CERCLA. The notified parties began working with EPA to identify other PRPs, and EPA proposed that the notified parties perform a remedial investigation/feasibility study (RI/FS) at their expense and reimburse EPA for its oversight costs. EPA is not expected to propose a remedy until after the RI/FS is completed. Additionally, in 2010, EPA designated the creek as a Superfund site, and in 2011, PDRC and five other parties entered an Administrative Order on Consent (AOC) to perform the RI/FS to assess the nature and extent of environmental contamination in the creek and identify potential remedial options. The parties ' RI/FS work under the AOC and their efforts to identify other PRPs are ongoing. The draft RI was submitted to EPA in November 2016, and the draft FS is expected to be submitted to EPA in late 2019. Remedial design could possibly begin in 2022, with the actual remediation construction starting several years later. The actual costs of fulfilling this remedial obligation and the allocation of costs among PRPs are uncertain and subject to change based on the results of the RI/FS, the remediation remedy ultimately selected by EPA and related allocation determinations. The overall cost and the portion ultimately allocated to PDRC could be material to FCX and significantly exceed the amount currently reserved for this contingency. Historical Smelter Sites . FCX subsidiaries and their predecessors at various times owned or operated copper, zinc and lead smelters or refineries in states including Arizona, Indiana, Kansas, Missouri, New Jersey, Oklahoma and Pennsylvania. For some of these former processing sites, certain FCX subsidiaries have been advised by EPA or state agencies that they may be liable for costs of investigating and, if appropriate, remediating environmental conditions associated with these former processing facilities. At other sites, certain FCX subsidiaries have entered into state voluntary remediation programs to investigate and, if appropriate, remediate onsite and offsite conditions associated with the facilities. The historical processing sites are in various stages of assessment and remediation. At some of these sites, disputes with local residents and elected officials regarding alleged health effects or the effectiveness of remediation efforts have resulted in litigation of various types, and similar litigation at other sites is possible. From 1920 until 1986, United States Metal Refining Company (USMR), an indirect wholly owned subsidiary of Cyprus Amax Minerals Company, owned and operated a copper smelter and refinery in the Borough of Carteret, New Jersey. Since the early 1980s, the site has been the subject of environmental investigation and remediation, primarily under the supervision of the New Jersey Department of Environmental Protection. On January 30, 2017, a class action titled Juan Duarte, Betsy Duarte and N.D., Infant, by Parents and Natural Guardians Juan Duarte and Betsy Duarte, Leroy Nobles and Betty Nobles, on behalf of themselves and all others similarly situated v. United States Metals Refining Company, Freeport-McMoRan Copper & Gold Inc. and Amax Realty Development, Inc. , Docket No. 734-17, was filed in the Superior Court of New Jersey against USMR, FCX, and Amax Realty Development, Inc. The suit alleges that USMR generated and disposed of smelter waste at the site and allegedly released contaminants onsite and offsite through discharges to surface water and air emissions over a period of decades and seeks unspecified damages for economic losses, including loss of property value, medical monitoring, punitive damages and other damages. FCX intends to vigorously defend this matter. Uranium Mining Sites. During a period between 1940 and the early 1970s, certain FCX subsidiaries and their predecessors were involved in uranium exploration and mining in the western U.S., primarily on federal and tribal lands in the Four Corners region of the southwest. Similar exploration and mining activities by other companies have also caused environmental impacts warranting remediation, and EPA and local authorities are currently evaluating the need for significant cleanup activities in the region. To date, FCX has undertaken remediation work at a limited number of sites associated with these predecessor entities. During 2014, FCX initiated reconnaissance work at a limited number of historic mining sites on federal lands, which continued in 2016; approximately 50 percent of FCX's known federal sites have been initially evaluated. FCX expects to increase those activities over the next several years in order to identify sites for possible future investigation and remediation. During 2014, FCX also initiated discussions with federal and tribal representatives regarding a potential phased program to investigate and remediate historic uranium sites on tribal lands in the Four Corners region. FCX continued discussions through 2016 with the Department of Justice regarding the federal government's share of liability on tribal lands. In January 2017, the Department of Justice, EPA, Navajo Nation, and two FCX-related subsidiaries reached an agreement regarding the financial contribution of the U.S. Government and the FCX subsidiaries and the scope of the environmental investigation and remediation work for the cleanup of 94 former uranium mining sites on tribal lands. The settlement terms are outlined in a proposed Consent Decree that was filed on January 17, 2017, in the U.S. District Court for the District of Arizona, and is subject to a 30-day public comment period and approval by the federal court. Under the Consent Decree, which the government valued at over $600 million , FCX will perform the environmental investigation and remediation work at 94 sites, and the United States will contribute $335 million into a trust fund to cover the government’s initial share of the costs. The program is expected to take more than 20 years to complete. AROs. FCX’s ARO estimates are reflected on a third-party cost basis and are based on FCX’s legal obligation to retire tangible, long-lived assets. A summary of changes in FCX’s AROs for the years ended December 31 follows: 2016 2015 2014 Balance at beginning of year $ 2,771 $ 2,744 $ 2,316 Liabilities incurred 12 97 429 a Settlements and revisions to cash flow estimates, net 529 b (66 ) 56 Accretion expense 137 131 116 Dispositions (626 ) c — (61 ) Spending (188 ) (132 ) (101 ) Other — (3 ) (11 ) Balance at end of year 2,635 2,771 2,744 Less current portion (240 ) (172 ) (189 ) Long-term portion $ 2,395 $ 2,599 $ 2,555 a. Primarily reflects updates to the closure approach to reclaim an overburden stockpile in Indonesia. b. Revisions to cash flow estimates were primarily related to revised estimates for an overburden stockpile in Indonesia and at certain oil and gas properties. c. Primarily reflects the sale of certain oil and gas properties. ARO costs may increase or decrease significantly in the future as a result of changes in regulations, changes in engineering designs and technology, permit modifications or updates, changes in mine plans, changes in drilling plans, settlements, inflation or other factors and as reclamation spending occurs. ARO activities and expenditures for mining operations generally are made over an extended period of time commencing near the end of the mine life; however, certain reclamation activities may be accelerated if legally required or if determined to be economically beneficial. The methods used or required to plug and abandon non-producing oil and gas wellbores, remove platforms, tanks, production equipment and flow lines, and restore wellsites could change over time. Financial Assurance. New Mexico, Arizona, Colorado and other states, as well as federal regulations governing mine operations on federal land, require financial assurance to be provided for the estimated costs of mine reclamation and closure, including groundwater quality protection programs. FCX has satisfied financial assurance requirements by using a variety of mechanisms, primarily involving parent company performance guarantees and financial capability demonstrations, but also including trust funds, surety bonds, letters of credit and other collateral. The applicable regulations specify financial strength tests that are designed to confirm a company’s or guarantor’s financial capability to fund estimated reclamation and closure costs. The amount of financial assurance FCX is required to provide will vary with changes in laws, regulations, reclamation and closure requirements, and cost estimates. At December 31, 2016 , FCX’s financial assurance obligations associated with these U.S. mine closure and reclamation/restoration costs totaled $1.1 billion , of which $687 million was in the form of guarantees issued by FCX and financial capability demonstrations of FCX. At December 31, 2016 , FCX had trust assets totaling $173 million (included in other assets), which are legally restricted to be used to satisfy its financial assurance obligations for its mining properties in New Mexico. In addition, FCX has financial assurance obligations for its oil and gas properties associated with plugging and abandoning wells and facilities totaling $704 million . Where oil and gas guarantees associated with the Bureau of Ocean Energy Management do not include a stated cap, the amounts reflect management's estimates of the potential exposure. New Mexico Environmental and Reclamation Programs. FCX’s New Mexico operations are regulated under the New Mexico Water Quality Act and regulations adopted by the Water Quality Control Commission (WQCC). In connection with discharge permits, the New Mexico Environment Department (NMED) has required each of these operations to submit closure plans for NMED’s approval. The closure plans must include measures to assure meeting applicable groundwater quality standards following the closure of discharging facilities and to abate groundwater or surface water contamination to meet applicable standards. In 2013, the WQCC adopted Supplemental Permitting Requirements for Copper Mining Facilities, which became effective on December 1, 2013, and specify closure requirements for copper mine facilities. The rules were adopted after an extensive stakeholder process in which FCX participated and were jointly supported by FCX and NMED. The rules are currently being challenged in the New Mexico Supreme Court by certain environmental organizations and the New Mexico Attorney General. Finalized closure plan requirements, including those resulting from application of the 2013 rules or the application of different standards if the rules are invalidated by the New Mexico Supreme Court, could result in material increases in closure costs for FCX's New Mexico operations. FCX’s New Mexico operations also are subject to regulation under the 1993 New Mexico Mining Act (the Mining Act) and the related rules that are administered by the Mining and Minerals Division (MMD) of the New Mexico Energy, Minerals and Natural Resources Department. Under the Mining Act, mines are required to obtain approval of plans describing the reclamation to be performed following cessation of mining operations. At December 31, 2016 , FCX had accrued reclamation and closure costs of $471 million for its New Mexico operations. As stated above, additional accruals may be required based on the state’s periodic review of FCX’s updated closure plans and any resulting permit conditions, and the amount of those accruals could be material. Arizona Environmental and Reclamation Programs. FCX’s Arizona properties are subject to regulatory oversight in several areas. ADEQ has adopted regulations for its aquifer protection permit (APP) program that require permits for, among other things, certain facilities, activities and structures used for mining, leaching, concentrating and smelting, and require compliance with aquifer water quality standards at an applicable point of compliance well or location during both operations and closure. The APP program also may require mitigation and discharge reduction or elimination of some discharges. An application for an APP requires a proposed closure strategy that will meet applicable groundwater protection requirements following cessation of operations and an estimate of the cost to implement the closure strategy. An APP may specify closure requirements, which may include post-closure monitoring and maintenance. A more detailed closure plan must be submitted within 90 days after a permitted entity notifies ADEQ of its intent to cease operations. A permit applicant must demonstrate its financial ability to meet the closure costs approved by ADEQ. In 2014, the state enacted legislation requiring closure costs for facilities covered by APPs to be updated no more frequently than every five years and financial assurance mechanisms to be updated no more frequently than every two years. While some closure cost updates have occurred in the normal course as modifications to APPs, ADEQ has not yet formally notified FCX regarding the timetable for updating other closure cost estimates and financial assurance mechanisms for FCX's Arizona mine sites. In 2016, ADEQ approved a closure plan update for Sierrita, which resulted in increased closure costs. FCX may be required to begin updating its closure cost estimates at other Arizona sites in 2017. Portions of Arizona mining facilities that operated after January 1, 1986, also are subject to the Arizona Mined Land Reclamation Act (AMLRA). AMLRA requires reclamation to achieve stability and safety consistent with post-mining land use objectives specified in a reclamation plan. Reclamation plans must be approved by the State Mine Inspector and must include an estimate of the cost to perform the reclamation measures specified in the plan along with financial assurance. During 2016, Safford submitted an update to its reclamation plan, which increased its reclamation costs. FCX will continue to evaluate options for future reclamation and closure activities at its operating and non-operating sites, which are likely to result in adjustments to FCX’s ARO liabilities, and those adjustments could be material. At December 31, 2016 , FCX had accrued reclamation and closure costs of $316 million for its Arizona operations. Colorado Reclamation Programs. FCX ' s Colorado operations are regulated by the Colorado Mined Land Reclamation Act (Reclamation Act) and regulations promulgated thereunder. Under the Reclamation Act, mines are required to obtain approval of plans for reclamation of lands affected by mining operations to be performed during mining or upon cessation of mining operations. During 2016, at the request of the Colorado Division of Reclamation Mining & Safety (DRMS), the Climax mine submitted a revised cost estimate for its current reclamation plan, which is not expected to materially change the closure plan cost. As of December 31, 2016 , FCX had accrued reclamation and closure costs of $66 million for its Colorado operations. Chilean Reclamation and Closure Programs. In July 2011, the Chilean senate passed legislation regulating mine closure, which establishes new requirements for closure plans. FCX's El Abra operation submitted updated closure cost estimates based on the existing approved closure plan in November 2014, which were approved in August 2015. At December 31, 2016 , FCX had accrued reclamation and closure costs of $55 million for its El Abra operation. Peruvian Reclamation and Closure Programs . Cerro Verde is subject to regulation under the Mine Closure Law administered by the Peruvian Ministry of Energy and Mines. Under the closure regulations, mines must submit a closure plan that includes the reclamation methods, closure cost estimates, methods of control and verification, closure and post-closure plans, and financial assurance. The latest closure plan and cost estimate for the Cerro Verde mine expansion were submitted to the Peruvian regulatory authorities in November 2013, which were approved in August 2014. At December 31, 2016 , Cerro Verde had accrued reclamation and closure costs of $114 million . Indonesian Reclamation and Closure Programs. The ultimate amount of reclamation and closure costs to be incurred at PT-FI’s operations will be determined based on applicable laws and regulations and PT-FI’s assessment of appropriate remedial activities in the circumstances, after consultation with governmental authorities, affected local residents and other affected parties and cannot currently be projected with precision. Some reclamation costs will be incurred during mining activities, while the remaining reclamation costs will be incurred at the end of mining activities, which are currently estimated to continue for approximately 25 years. During 2014, PT-FI updated its closure approach for an overburden stockpile, which resulted in an increase in the ARO of $403 million . At the end of 2016, PT-FI revised its estimates for the overburden stockpile to address ongoing erosion that occurred during 2016, a design change that increased the volume and updated cost estimates reflecting more recent productivity and costs at the overburden stockpile, which resulted in an increase in the ARO of $372 million . At December 31, 2016 , PT-FI had accrued reclamation and closure costs of $998 million . PT-FI has designated a cash fund ( $22 million balance at December 31, 2016 , which is included in other assets) to pay mine closure and reclamation costs or satisfy a portion of Indonesian financial requirements. In December 2009, PT-FI submitted its revised mine closure plan to the Department of Energy and Mineral Resources for review and addressed comments received during the course of this review process. In December 2010, the Indonesian government issued a regulation regarding mine reclamation and closure, which requires a company to provide a mine closure guarantee in the form of a time deposit placed in a state-owned bank in Indonesia. In accordance with its COW, PT-FI is working with the Department of Energy and Mineral Resources to review these requirements, including discussion of other options for the mine closure guarantee. Oil and Gas Properties. Substantially all of FM O&G's oil and gas leases require that, upon termination of economic production, the working interest owners plug and abandon non-producing wellbores, remove equipment and facilities from leased acreage, and restore land in accordance with applicable local, state and federal laws. Following several sales transactions in 2016, FM O&G remaining operating areas include the GOM shelf, offshore California, the Gulf Coast and the Rocky Mountain area as of December 31, 2016. FM O&G AROs cover approximately 600 wells and 134 platforms and other structures. At December 31, 2016 , FM O&G had accrued $589 million associated with its AROs. Litigation. FCX is involved in numerous legal proceedings that arise in the ordinary course of business or are associated with environmental issues arising from legacy operations conducted over the years by FMC and its affiliates as discussed in this note under “Environmental.” FCX is also involved periodically in reviews, inquiries, investigations and other proceedings initiated by or involving government agencies, some of which may result in adverse judgments, settlements, fines, penalties, injunctions or other relief. Management does not believe, based on currently available information, that the outcome of any legal proceeding will have a material adverse effect on FCX's financial condition, although individual outcomes could be material to FCX's operating results for a particular period, depending on the nature and magnitude of the outcome and the operating results for the period. Asbestos Claims. Since approximately 1990, FMC and various subsidiaries have been named as defendants in a large number of lawsuits that claim personal injury either from exposure to asbestos allegedly contained in electrical wire products produced or marketed many years ago or from asbestos contained in buildings and facilities located at properties owned or operated by FMC affiliates, or from alleged asbestos in talc products. Many of these suits involve a large number of codefendants. Based on litigation results to date and facts currently known, FCX believes there is a reasonable possibility that losses may have been incurred related to these matters; however, FCX also believes that the amounts of any such losses, individually or in the aggregate, are not material to its consolidated financial statements. There can be no assurance, however, that future developments will not alter this conclusion. Tax and Other Matters. FCX's operations are in multiple jurisdictions where uncertainties arise in the application of complex tax regulations. Some of these tax regimes are defined by contractual agreements with the local government, while others are defined by general tax laws and regulations. FCX and its subsidiaries are subject to reviews of its income tax filings and other tax payments, and disputes can arise with the taxing authorities over the interpretation of its contracts or laws. The final taxes paid may be dependent upon many factors, including negotiations with taxing authorities. In certain jurisdictions, FCX must pay a portion of the disputed amount to the local government in order to formally appeal the assessment. Such payment is recorded as a receivable if FCX believes the amount is collectible. Cerro Verde Royalty Dispute. SUNAT, the Peru national tax authority, has assessed mining royalties on ore processed by the Cerro Verde concentrator, which commenced operations in late 2006. These assessments cover the period December 2006 to December 2007, each of the years 2008 through 2010, and the period January 2011 to September 2011. In July 2013, the Peruvian Tax Tribunal issued two decisions affirming SUNAT's assessments for the period December 2006 through December 2008. In September 2013, Cerro Verde filed judiciary appeals related to the assessments because it believes that its 1998 stability agreement exempts from royalties all minerals extracted from its mining concession, irrespective of the method used for processing those minerals. With respect to the judiciary appeal related to assessments for the year 2008, on December 17, 2014, Peru's Eighteenth Contentious Administrative Court, which specializes in taxation matters, rendered its decision upholding Cerro Verde's position and declaring the Tax Tribunal's resolution invalid. On December 31, 2014, SUNAT and the Tax Tribunal appealed this decision. On January 29, 2016, Peru’s Sixth Contentious Administrative Chamber of the Appellate Court nullified the decision of the Eighteenth Contentious Administrative Court. On February 23, 2016, Cerro Verde appealed the decision to the Peruvian Supreme Court. On April 14, 2016, Peru’s Twentieth Contentious Administrative Court, which specializes in taxation matters, rendered its decision upholding the Peruvian 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. Although FCX believes Cerro Verde's interpretation of the stability agreement is correct, if Cerro Verde is ultimately found responsible for these assessments, it may also be liable for penalties and interest, which accrues at rates that range from approximately 7 percent to 18 percent based on the year accrued and the currency in which the amounts would be payable. In October 2013, SUNAT served Cerro Verde with a demand for payment totaling $146 million (based on the exchange rate as of December 31, 2016 , including interest and penalties) based on the Peruvian Tax Tribunal’s decisions for the period December 2006 through December 2008. As permitted by law, Cerro Verde requested and was granted an installment payment program that deferred payment for six months and thereafter required 66 equal monthly payments. Through December 31, 2016 , Cerro Verde has made payments totaling $96 million (based on the exchange rate as of December 31, 2016 ) under the installment program, which are included in other assets in the consolidated balance sheets. In July 2013, a hearing on SUNAT's assessment for 2009 was held, but no decision had been issued by the Peruvian Tax Tribunal for that year. The aggregate amount of the assessment for 2009 totals $80 million (based on the exchange rate as of December 31, 2016 ), including estimated accumulated interest and penalties. In April 2016, SUNAT issued assessments for the year 2010 and the period January 2011 to September 2011, which totals $162 million (based on the exchange rate as of December 31, 2016 ), including estimated accumulated interest and penalties. Cerro Verde has contested the assessments. 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. No assessments can be issued for years after 2013, as Cerro Verde began paying royalties on all of its production in January 2014 under its new 15-year stability agreement. As of December 31, 2016 , FCX estimates the total exposure associated with these mining royalties for the period from December 2006 through December 2013 approximates $544 million (based on the exchange rate as of December 31, 2016 ), including estimated accumulated interest and penalties. No amounts have been recorded for these assessments as of December 31, 2016 , because Cerro Verde believes its 1998 stability agreement exempts it from these royalties and believes any payments will be recoverable. Other Peruvian Tax Matters. Cerro Verde has also received assessments from SUNAT for additional taxes, penalties and interest related to various audit exceptions for income and other taxes. Cerro Verde has filed or will file objections to the assessments because it believes it has properly determined and paid its taxes. A summary of these assessments follows: Tax Year Tax Assessment Penalty and Interest Assessment Total 2002 to 2005 $ 16 $ 51 $ 67 2006 7 49 56 2007 12 18 30 2008 21 13 34 2009 56 48 104 2010 66 98 164 2011, 2014 to 2016 22 3 25 $ 200 $ 280 $ 480 As of December 31, 2016 , Cerro Verde had paid $181 million (included in other assets) on these disputed tax assessments, which it believes is collectible. No amounts have been accrued for the

COMMITMENTS AND GUARANTEES

COMMITMENTS AND GUARANTEES	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Guarantees	COMMITMENTS AND GUARANTEES Operating Leases. FCX leases various types of properties, including offices and equipment. Future minimum rentals under non-cancelable leases at December 31, 2016 , total $45 million in 2017 , $36 million in 2018 , $22 million in 2019 , $20 million in 2020 , $19 million in 2021 and $109 million thereafter. Minimum payments under operating leases have not been reduced by aggregate minimum sublease rentals, which are minimal. Total aggregate rental expense under operating leases was $71 million in 2016 , $71 million in 2015 and $76 million in 2014 . Contractual Obligations. Based on applicable prices at December 31, 2016 , FCX has unconditional purchase obligations of $3.4 billion , primarily comprising the procurement of copper concentrate ( $1.4 billion ), cobalt ( $0.8 billion ), electricity ( $0.5 billion ) and transportation services ( $0.4 billion ). Some of FCX’s unconditional purchase obligations are settled based on the prevailing market rate for the service or commodity purchased. In some cases, the amount of the actual obligation may change over time because of market conditions. Obligations for copper concentrate provide for deliveries of specified volumes to Atlantic Copper at market-based prices. Obligations for cobalt provide for deliveries of specified volumes to Freeport Cobalt at market-based prices. Electricity obligations are primarily for long-term power purchase agreements in North America and contractual minimum demand at the South America mines. Transportation obligations are primarily for South America contracted ocean freight. FCX’s unconditional purchase obligations by year total $1.8 billion in 2017 , $718 million in 2018 , $314 million in 2019 , $263 million in 2020 , $45 million in 2021 and $342 million thereafter. During the three-year period ended December 31, 2016 , FCX fulfilled its minimum contractual purchase obligations. Mining Contracts — Indonesia. FCX is entitled to mine in Indonesia under the COW between PT-FI and the Indonesian government. The original COW was entered into in 1967 and was replaced with the current COW in 1991. The initial term of the current COW expires in 2021 but can be extended by PT-FI for two 10 -year periods subject to Indonesian government approval, which pursuant to the COW cannot be withheld or delayed unreasonably. The copper royalty rate payable by PT-FI under its COW, prior to modifications discussed below as a result of the July 2014 Memorandum of Understanding (MOU), varied from 1.5 percent of copper net revenue at a copper price of $0.90 or less per pound to 3.5 percent at a copper price of $1.10 or more per pound. The COW royalty rate for gold and silver sales was at a fixed rate of 1.0 percent . A large part of the mineral royalties under Indonesian government regulations is designated to the provinces from which the minerals are extracted. In connection with its fourth concentrator mill expansion completed in 1998, PT-FI agreed to pay the Indonesian government additional royalties (royalties not required by the COW) to provide further support to the local governments and to the people of the Indonesian province of Papua. The additional royalties were paid on production exceeding specified annual amounts of copper, gold and silver generated when PT-FI’s milling facilities operated above 200,000 metric tons of ore per day. The additional royalty for copper equaled the COW royalty rate, and for gold and silver equaled twice the COW royalty rates. Therefore, PT-FI’s royalty rate on copper net revenues from production above the agreed levels was double the COW royalty rate, and the royalty rates on gold and silver sales from production above the agreed levels were triple the COW royalty rates. In January 2014, the Indonesian government published regulations that among other things imposed a progressive export duty on copper concentrate and restricted concentrate exports after January 12, 2017 . PT-FI’s COW authorizes it to export concentrate and specifies the taxes and other fiscal terms available to its operations. The COW states that PT-FI shall not be subject to taxes, duties or fees subsequently imposed or approved by the Indonesian government except as expressly provided in the COW. Additionally, PT-FI complied with the requirements of its COW for local processing by arranging for the construction and commissioning of Indonesia's only copper smelter and refinery, which is owned by PT Smelting (refer to Note 6 ). In July 2014, PT-FI entered into a MOU with the Indonesian government, in which, subject to concluding an agreement to extend PT-FI's operations beyond 2021 on acceptable terms, PT-FI agreed to construct new smelter capacity in Indonesia and to divest an additional 20.64 percent interest in PT-FI at fair market value. Under the MOU, PT-FI provided a $115 million assurance bond to support its commitment for smelter development, agreed to increase royalty rates to 4.0 percent for copper and 3.75 percent for gold from the previous rates of 3.5 percent for copper and 1.0 percent for gold, and agreed to pay export duties until certain smelter development milestones were met (initially set at 7.5 percent , declining to 5.0 percent when smelter development progress exceeds 7.5 percent and eliminated when development progress exceeds 30 percent ). The MOU also anticipated an amendment of the COW within six months to address other matters; however, no terms of the COW other than those relating to the smelter bond, increased royalties and export duties were changed. In January 2015, the MOU was extended to July 25, 2015 , and it expired on that date. The Indonesian government has continued to impose the increased royalty rates, export duties and smelter assurance bond. PT-FI's royalties totaled $131 million in 2016 , $114 million in 2015 and $115 million in 2014 , and export duties totaled $95 million in 2016 , $109 million in 2015 and $77 million in 2014 . In October 2015, the Indonesian government provided a letter of assurance to PT-FI indicating that it would revise regulations allowing it to approve the extension of operations beyond 2021, and provide the same rights and the same level of legal and fiscal certainty provided under its current COW. In January and February 2017, the Indonesian government issued new regulations to address exports of unrefined metals, including copper concentrate and anode slimes, and other matters related to the mining sector. The new regulations permit the continuation of copper concentrate exports for a five-year period through January 2022, subject to various conditions, including conversion from a contract of work to a special operating license (known as an IUPK, which provides virtually none of the protections of a contract of work), commitment to completion of smelter construction in five years and payment of export duties to be determined by the Ministry of Finance. In addition, the new regulations enable application for extension of operating rights five years before expiration of the IUPK and require foreign IUPK holders to divest 51 percent to Indonesian interests no later than the tenth year of production. Export licenses would be valid for one-year periods, subject to review every six months, depending on smelter construction progress. The January 2017 regulations permit the export of anode slimes, which is necessary for PT Smelting to continue operating. PT Smelting is seeking to renew its anode slimes export license; however, we cannot predict when PT Smelting’s anode slimes export license may be renewed. In addition, a labor strike at PT Smelting has resulted in a shutdown of its operations since January 19, 2017. Although PT-FI is taking near-term actions to reduce production to match available processing capacity at PT Smelting, or approximately 40 percent of PT-FI's concentrate production capacity, on February 10, 2017, PT-FI was forced to suspend production as a result of limited storage capacity at PT-FI and PT Smelting. PT Smelting has indicated that it expects to resume operations in March 2017. Delays in PT Smelting obtaining its anode slimes export license or restarting operations could further impact PT-FI's operations. Following the issuance of the January and February 2017 regulations and discussions with the government, PT-FI advised the Indonesian government that it was prepared to convert its COW to an IUPK, subject to obtaining an investment stability agreement providing equivalent rights with the same level of legal and fiscal certainty enumerated under its COW, and provided that the COW would remain in effect until it is replaced by a mutually satisfactory alternative. PT-FI also committed to commence construction of a new smelter during a five-year timeframe after approval of the extension of its long-term operating rights. Under its COW, PT-FI has specified rights to export copper concentrate without restriction or payment of export duties. PT-FI has requested that concentrate exports be permitted without the imposition of export duties while the new license and stability agreement are negotiated. The Indonesia government has indicated that in order to export its concentrate production, PT-FI would be required to immediately convert to an IUPK, forgo its current rights to fiscal and legal certainty and commit to a new smelter prior to completing a long-term investment stability agreement. PT-FI has advised the Indonesian government that attempts to enforce the new regulations on PT-FI violates its COW and that it is unwilling to terminate its COW unless replaced by a mutually acceptable form of agreement providing fiscal and legal assurances to support its long-term investment plans in Papua, Indonesia. As of February 24, 2017 , PT-FI has not obtained approval to export concentrate and production remains suspended. PT-FI is taking near-term actions to reduce production to match available processing capacity at PT Smelting, or approximately 40 percent of PT-FI's concentrate production capacity (assuming that PT Smelting's export license is approved and its operations are resumed in March 2017). PT-FI has begun to significantly adjust its cost structure, reduce its workforce and spending with local suppliers, and suspend investments in its underground development projects and new smelter. On February 17, 2017, pursuant to the COW’s dispute resolution provisions, PT-FI provided formal notice to the Indonesian government of an impending dispute listing the government’s breaches and violations of the COW, including, but not limited to, (i) restrictions on PT-FI’s basic right to export mining products in violation of the COW, (ii) imposition of export duties other than those taxes and other charges expressly provided for in the COW, (iii) imposition of surface water taxes in excess of the restrictions imposed by the COW (refer to Note 12 for further discussion of these assessments), (iv) requirement for PT-FI to build a smelter, while such requirements are not contained in the COW, (v) unreasonable withholding and delay in granting approval of two successive ten -year extensions of the term of the COW, and (vi) imposition of divestment requirements that are not provided for in the COW. Other. In 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 48.1 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 $215 million in cash during 2016. FCX also agreed to provide contingent payments of up to $75 million to Noble and up to $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 $23 million (included in accounts payable and accrued liabilities) as of December 2016 . In January 2017, FCX paid $6 million to early settle a portion of the Rowan contingent payments, which was included in the fair value at December 31, 2016 . 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. Community Development Programs. FCX has adopted policies that govern its working relationships with the communities where it operates. These policies are designed to guide its practices and programs in a manner that respects basic human rights and the culture of the local people impacted by FCX’s operations. FCX continues to make significant expenditures on community development, education, training and cultural programs. In 1996, PT-FI established the Freeport Partnership Fund for Community Development (Partnership Fund) through which PT-FI has made available funding and technical assistance to support community development initiatives in the area of health, education and economic development of the area. PT-FI has committed through 2018 to provide one percent of its annual revenue for the development of the local people in its area of operations through the Partnership Fund. PT-FI charged $33 million in 2016 , $27 million in 2015 and $31 million in 2014 to cost of sales for this commitment. Guarantees. FCX provides certain financial guarantees (including indirect guarantees of the indebtedness of others) and indemnities. Prior to its acquisition by FCX, FMC and its subsidiaries have, as part of merger, acquisition, divestiture and other transactions, from time to time, indemnified certain sellers, buyers or other parties related to the transaction from and against certain liabilities associated with conditions in existence (or claims associated with actions taken) prior to the closing date of the transaction. As part of these transactions, FMC indemnified the counterparty from and against certain excluded or retained liabilities existing at the time of sale that would otherwise have been transferred to the party at closing. These indemnity provisions generally now require FCX to indemnify the party against certain liabilities that may arise in the future from the pre-closing activities of FMC for assets sold or purchased. The indemnity classifications include environmental, tax and certain operating liabilities, claims or litigation existing at closing and various excluded liabilities or obligations. Most of these indemnity obligations arise from transactions that closed many years ago, and given the nature of these indemnity obligations, it is not possible to estimate the maximum potential exposure. Except as described in the following sentence, FCX does not consider any of such obligations as having a probable likelihood of payment that is reasonably estimable, and accordingly, has not recorded any obligations associated with these indemnities. With respect to FCX’s environmental indemnity obligations, any expected costs from these guarantees are accrued when potential environmental obligations are considered by management to be probable and the costs can be reasonably estimated.

FINANCIAL INSTRUMENTS (Notes)

FINANCIAL INSTRUMENTS (Notes)	12 Months Ended
	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [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 derivatives 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 a result of the acquisition of the oil and gas business in 2013, FCX assumed a variety of crude oil and natural gas commodity derivatives to hedge the exposure to the volatility of crude oil and natural gas commodity prices, all of which had matured by December 31, 2015. As part of the terms of the agreement to sell FM O&G's onshore California oil and gas properties, FM O&G entered into derivative contracts during October 2016, all of which were assumed by Sentinel at the time of the sale in December 2016. As of December 31, 2016 and 2015 , FCX had no price protection contracts relating to its mine production. A discussion of FCX’s derivative contracts and programs follows. Derivatives Designated as Hedging Instruments – Fair Value Hedges Copper Futures and Swap Contracts. Some of FCX’s U.S. copper rod customers request a fixed market price instead of the COMEX 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 three years ended December 31, 2016 , resulting from hedge ineffectiveness. At December 31, 2016 , FCX held copper futures and swap contracts that qualified for hedge accounting for 42 million pounds at an average contract price of $2.35 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 for the years ended December 31 follows: 2016 2015 2014 Copper futures and swap contracts: Unrealized gains (losses): Derivative financial instruments $ 16 $ (3 ) $ (12 ) Hedged item – firm sales commitments (16 ) 3 12 Realized gains (losses): Matured derivative financial instruments 1 (34 ) (9 ) Derivatives Not Designated as Hedging Instruments Embedded Derivatives. As described in Note 1 under “Revenue Recognition,” certain FCX copper concentrate, copper cathode and gold sales contracts provide for provisional pricing primarily based on the LME copper price or the COMEX copper price and the London gold price at the time of shipment as specified in the contract. Similarly, FCX purchases copper under contracts that provide for provisional pricing. Mark-to-market price fluctuations from these embedded derivatives are recorded through the settlement date and are reflected in revenues for sales contracts and in cost of sales as production and delivery costs for purchase contracts. 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 December 31, 2016 , follows: Open Average Price Per Unit Maturities Positions Contract Market Through Embedded derivatives in provisional sales contracts: Copper (millions of pounds) 698 $ 2.36 $ 2.51 June 2017 Gold (thousands of ounces) 207 1,195 1,161 March 2017 Embedded derivatives in provisional purchase contracts: Copper (millions of pounds) 140 2.37 2.51 April 2017 Crude Oil and Natural Gas Contracts. As a result of the acquisition of the oil and gas business, FCX had derivative contracts that consisted of crude oil options, and crude oil and natural gas swaps. 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 by PXP 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 contacts matured in 2015, and FCX had no outstanding crude oil or natural gas derivative contracts as of December 31, 2016 or 2015. As part of the terms of the agreement to sell the onshore California oil and gas properties, FM O&G entered into derivative contracts during October 2016 to hedge (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 these onshore California properties. Sentinel assumed these contracts at the time of the sale in December 2016. These derivative contracts were not designated as hedges for accounting purposes, and were recorded at fair value with the mark-to-market gains and losses recorded in revenues (oil contracts) and production costs (natural gas contracts). 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 December 31, 2016 , Atlantic Copper held net copper forward purchase contracts for 3 million pounds at an average contract price of $2.57 per pound, with maturities through February 2017 . Summary of Gains (Losses). A summary of the realized and unrealized gains (losses) recognized in operating loss for commodity contracts that do not qualify as hedge transactions, including embedded derivatives, for the years ended December 31 follows: 2016 2015 2014 Embedded derivatives in provisional copper and gold sales contracts a $ 266 $ (406 ) $ (280 ) Crude oil options and swaps a (35 ) 87 513 Natural gas swaps a — — — (8 ) Copper forward contracts b 5 (15 ) (4 ) 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: December 31, 2016 2015 Commodity Derivative Assets: Derivatives designated as hedging instruments: Copper futures and swap contracts $ 9 $ 1 Derivatives not designated as hedging instruments: Embedded derivatives in provisional copper and gold sales/purchase contracts 137 19 Total derivative assets $ 146 $ 20 Commodity Derivative Liabilities: Derivatives designated as hedging instruments: Copper futures and swap contracts $ 2 $ 11 Derivatives not designated as hedging instruments: Embedded derivatives in provisional copper and gold sales/purchase contracts 56 81 Total derivative liabilities $ 58 $ 92 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 the 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: Assets at December 31, Liabilities at December 31, 2016 2015 2016 2015 Gross amounts recognized: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts $ 137 $ 19 $ 56 $ 81 Copper derivatives 9 1 2 11 146 20 58 92 Less gross amounts of offset: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts 12 5 12 5 Copper derivatives 2 1 2 1 14 6 14 6 Net amounts presented in balance sheet: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts 125 14 44 76 Copper derivatives 7 — — 10 $ 132 $ 14 $ 44 $ 86 Balance sheet classification: Trade accounts receivable $ 119 $ 9 $ 13 $ 51 Other current assets 7 — — — Accounts payable and accrued liabilities 6 5 31 35 $ 132 $ 14 $ 44 $ 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 December 31, 2016 , the maximum amount of credit exposure associated with derivative transactions was $118 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 $64 million at December 31, 2016 , and $34 million at December 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 15 for the fair values of investment securities, legally restricted funds and long-term debt). In addition, FCX has contingent consideration related to its sales of assets (refer to Note 15 for the fair value and Note 2 for further discussion of these instruments) and contingent liabilities related to the settlement of FM O&G’s drilling rig contracts (refer to Note 15 for the fair value and Note 13 for further discussion of these instruments).

FAIR VALUE MEASUREMENT (Notes)

FAIR VALUE MEASUREMENT (Notes)	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENT Fair value accounting guidance includes a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 inputs) and the lowest priority to unobservable inputs (Level 3 inputs). FCX recognizes transfers between levels at the end of the reporting period. FCX did not have any significant transfers in or out of Level 1, 2 or 3 for 2016 . Effective January 1, 2016, FCX retrospectively adopted the ASU associated with investments for which fair value is measured using the 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 follows. FCX's financial instruments are recorded on the consolidated balance sheets at fair value except for contingent consideration associated with the sale of the Deepwater GOM oil and gas properties (which was recorded under the loss recovery approach) and debt. At December 31, 2016 Carrying Fair Value Amount Total NAV Level 1 Level 2 Level 3 Assets Investment securities: a,b U.S. core fixed income fund $ 23 $ 23 $ 23 $ — $ — $ — Money market funds 22 22 — 22 — — Equity securities 5 5 — 5 — — Total 50 50 23 27 — — Legally restricted funds: a U.S. core fixed income fund 53 53 53 — — — Government bonds and notes 36 36 — — 36 — Corporate bonds 32 32 — — 32 — Government mortgage-backed securities 25 25 — — 25 — Asset-backed securities 16 16 — — 16 — Money market funds 12 12 — 12 — — Collateralized mortgage-backed securities 8 8 — — 8 — Municipal bonds 1 1 — — 1 — Total 183 183 53 12 118 — Derivatives: Embedded derivatives in provisional sales/purchase contracts in a gross asset position c 137 137 — — 137 — Copper futures and swap contracts c 9 9 — 8 1 — Contingent consideration for the sales of TFHL and onshore California oil and gas properties a 46 46 — — 46 — Total 192 192 — 8 184 — Contingent consideration for the sale of the Deepwater GOM oil and gas properties a 150 135 — — — 135 Total assets $ 560 $ 76 $ 47 $ 302 $ 135 Liabilities Derivatives: c Embedded derivatives in provisional sales/purchase contracts in a gross liability position $ 56 $ 56 — $ — $ 56 $ — Copper futures and swap contracts 2 2 — 2 — — Total 58 58 — 2 56 — Contingent payments for the settlements of drilling rig contracts d 23 23 — — 23 — Long-term debt, including current portion e 16,027 15,196 — — 15,196 — Total liabilities $ 15,277 $ — $ 2 $ 15,275 $ — 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 $ 23 $ 23 $ 23 $ — $ — $ — Money market funds 21 21 — 21 — — Equity securities 3 3 — 3 — — Total 47 47 23 24 — — Legally restricted funds: a U.S. core fixed income fund 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: c 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: c 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 e 20,428 13,987 — — 13,987 — Total liabilities $ 14,079 $ — $ 7 $ 14,072 $ — a. Current portion included in other current assets and long-term portion included in other assets. b. Excludes time deposits (which approximated fair value) included in (i) other current assets of $28 million at December 31, 2016 and 2015 , and (ii) other assets of $122 million at December 31, 2016 , and $118 million at December 31, 2015 , primarily associated with an assurance bond to support PT-FI's commitment for smelter development in Indonesia (refer to Note 13 for further discussion). c. Refer to Note 14 for further discussion and balance sheet classifications. d. Included in accounts payable and accrued liabilities. e. Recorded at cost except for debt assumed in acquisitions, which are recorded at fair value at the respective acquisition dates. Valuation Techniques. 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). 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 14 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 14 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. The fair value of contingent consideration for the sales of TFHL and onshore California oil and gas properties (refer to Note 2 for further discussion) is calculated based on average commodity price forecasts through applicable maturity dates using a Monte Carlo simulation model. The models use various observable inputs, including Brent crude oil forward prices, historical copper and cobalt prices, volatilities, discount rates and settlement terms. As a result, these contingent consideration assets are classified within Level 2 of the fair value hierarchy. The fair value of contingent consideration for the sale of Deepwater GOM oil and gas properties (refer to Note 2 for further discussion) is calculated based on a discounted cash flow model using inputs that include third-party reserve estimates, production rates, production timing and discount rates. Because significant inputs are not observable in the market, the contingent consideration is classified within Level 3 of the fair value hierarchy. The fair value of contingent payments for the settlements of drilling rig contracts (refer to Note 13 for further discussion) is calculated based on the average price forecasts of WTI crude oil over the 12-month period ending June 30, 2017, using a mean-reverting model. The model uses various observable inputs, including WTI crude oil forward prices, volatilities, discount rate and settlement terms. As a result, these contingent payments 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 techniques described above may produce a fair value calculation that may not be indicative of NRV 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 December 31, 2016 . A summary of the changes in the fair value of FCX ' s Level 3 instruments for the years ended December 31 follows: Contingent Consideration Crude Oil Options 2016 2015 2014 Balance at beginning of year $ — $ 316 $ (309 ) Net realized gains (losses) — 86 a (42 ) a Net unrealized gains related to assets and liabilities still held at the end of the year 135 b — 430 c Net settlements — (402 ) d 237 d Balance at the end of the year $ 135 $ — $ 316 a. Includes net realized gains (losses) of $87 million recorded in revenues in 2015 and $(41) million in 2014 , and $1 million of interest expense associated with deferred premiums in both 2015 and 2014 . b. Reflects contingent consideration associated with the sale of the Deepwater GOM oil and gas properties in December 2016 (see Note 2 for further discussion). c. Includes unrealized gains recorded in revenues of $432 million and $2 million of interest expense associated with deferred premiums. d. Includes interest payments of $4 million in 2015 and $5 million in 2014 . Refer to Notes 1 and 5 for a discussion of the fair value estimates utilized in the impairment assessments for mining operations, which were determined using inputs not observable in the market and thus represent Level 3 measurements. Refer to Note 1 for the discussion of the fair value estimate utilized in the goodwill impairment assessment, which was determined primarily using inputs not observable in the market and thus represents a Level 3 measurement.

BUSINESS SEGMENTS INFORMATION

BUSINESS SEGMENTS INFORMATION	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Business Segment Information	BUSINESS SEGMENT INFORMATION Product Revenues. FCX revenues attributable to the products it produced for the years ended December 31 follow: 2016 2015 2014 Refined copper products $ 5,888 $ 6,699 $ 8,187 Copper in concentrate a 4,502 2,869 3,366 Gold 1,512 1,538 1,584 Molybdenum 651 783 1,207 Oil 1,304 1,694 4,233 Other 973 1,024 1,424 Total $ 14,830 $ 14,607 $ 20,001 a. Amounts are net of treatment and refining charges totaling $652 million in 2016 , $485 million in 2015 and $374 million in 2014 . Geographic Area. Information concerning financial data by geographic area follows: December 31, 2016 2015 2014 Long-lived assets: a U.S. $ 8,282 b $ 16,569 b $ 29,468 Indonesia 8,794 7,701 6,961 Peru 7,981 8,432 6,848 Chile 1,269 1,387 1,542 Other c 248 4,706 4,593 Total $ 26,574 $ 38,795 $ 49,412 a. Long-lived assets exclude deferred tax assets and intangible assets. b. Decrease in 2016 is primarily because of impairment charges related to oil and gas properties and asset dispositions, and decrease in 2015 is primarily because of impairment charges related to oil and gas properties (refer to Notes 1 and 2 for further discussion). c. Includes long-lived assets held for sale totaling $4.4 billion at December 31, 2015, and $4.3 billion at December 31, 2014, primarily associated with discontinued operations. Refer to Note 2 for further discussion. Years Ended December 31, 2016 2015 2014 Revenues: a U.S. $ 5,896 $ 6,842 $ 10,307 Indonesia 1,402 1,054 1,792 Japan 1,350 1,246 1,573 Switzerland 1,147 618 658 China 1,125 688 790 Spain 878 960 1,020 India 553 532 286 Bermuda 273 159 76 Philippines 261 169 — Chile 250 397 687 Korea 219 177 203 United Kingdom 204 83 142 Other 1,272 1,682 2,467 Total $ 14,830 $ 14,607 $ 20,001 a. Revenues are attributed to countries based on the location of the customer. Major Customers and Affiliated Companies. No customer accounted for 10 percent or more of FCX's consolidated revenues during the years ended December 31, 2016 and 2015 . Oil and gas sales to Phillips 66 Company totaled $2.5 billion ( 12 percent of FCX's consolidated revenues) during the year ended December 31, 2014 . Consolidated revenues include sales to the noncontrolling interest owners of FCX's South America mining operations totaling $1.0 billion in both 2016 and 2015 and $1.6 billion in 2014 , and PT-FI's sales to PT Smelting totaling $1.4 billion in 2016 , $1.1 billion in 2015 and $1.8 billion in 2014 . Labor Matters . As of December 31, 2016 , approximately half of FCX's global labor force was covered by collective bargaining agreements, and approximately one-third of FCX's global labor force is covered by agreements that expired and are currently being negotiated or will expire within one year. 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 tables are FCX's reportable segments, which include the Morenci, Cerro Verde and Grasberg copper mines, the Rod & Refining operations and the U.S. Oil & Gas operations. Intersegment sales between FCX’s mining operations are based on similar arm's-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. North America Copper Mines. FCX has seven operating copper mines in North America – Morenci, Bagdad, Safford, Sierrita and Miami in Arizona, and Tyrone and Chino in New Mexico. The North America copper mines include open-pit mining, sulfide ore concentrating, leaching and SX/EW operations. A majority of the copper produced at the North America copper mines is cast into copper rod by FCX’s Rod & Refining operations. In addition to copper, certain of FCX's North America copper mines also produce molybdenum concentrate and silver. The Morenci open-pit mine, located in southeastern Arizona, produces copper cathode and copper concentrate. In addition to copper, the Morenci mine also produces molybdenum concentrate. The Morenci mine produced 46 percent of FCX’s North America copper during 2016 . South America Mining. South America mining includes two operating copper mines – Cerro Verde in Peru and El Abra in Chile. These operations include open-pit mining, sulfide ore concentrating, leaching and SX/EW operations. On November 3, 2014 , FCX completed the sale of its 80 percent ownership interests in the Candelaria mine and the Ojos del Salado mine, both reported as components of other South America mines. South America mining includes the results of the Candelaria and Ojos del Salado mines through the sale date. Refer to Note 2 for further discussion. The Cerro Verde open-pit copper mine, located near Arequipa, Peru, produces copper cathode and copper concentrate. In addition to copper, the Cerro Verde mine also produces molybdenum concentrate and silver. The Cerro Verde mine produced 83 percent of FCX’s South America copper during 2016 . Indonesia Mining. Indonesia mining includes PT-FI’s Grasberg minerals district that produces copper concentrate, which contains significant quantities of gold and silver. Molybdenum Mines. Molybdenum mines include the wholly owned Henderson underground mine and Climax open-pit mine in Colorado. The Henderson and Climax mines produce high-purity, chemical-grade molybdenum concentrate, which is typically further processed into value-added molybdenum chemical products. Rod & Refining. The Rod & Refining segment consists of copper conversion facilities located in North America, and includes a refinery, three rod mills and a specialty copper products facility, which are combined in accordance with segment reporting aggregation guidance. These operations process copper produced at FCX’s North America copper mines and purchased copper into copper cathode, rod and custom copper shapes. At times these operations refine copper and produce copper rod and shapes for customers on a toll basis. Toll arrangements require the tolling customer to deliver appropriate copper-bearing material to FCX’s facilities for processing into a product that is returned to the customer, who pays FCX for processing its material into the specified products. Atlantic Copper Smelting & Refining. Atlantic Copper smelts and refines copper concentrate and markets refined copper and precious metals in slimes. During 2016 , Atlantic Copper purchased approximately 13 percent of its concentrate requirements from the North America copper mines, approximately 7 percent from the South America mining operations and approximately 3 percent from the Indonesia mining operations at market prices, with the remainder purchased from third parties. Other Mining & Eliminations. Other Mining & Eliminations include the Miami smelter (a smelter at FCX's Miami, Arizona, mining operation), Freeport Cobalt (a cobalt chemical refinery in Kokkola, Finland), molybdenum conversion facilities in the U.S. and Europe, four non-operating copper mines in North America (Ajo, Bisbee and Tohono in Arizona, and Cobre in New Mexico) and other mining support entities. U.S. Oil & Gas Operations. As of December 31, 2016, FCX's U.S. Oil & Gas operations include oil and natural gas production onshore in South Louisiana and on the GOM shelf, oil production offshore California and natural gas production from the Madden area in central Wyoming. In January 2017, FCX entered into an agreement to sell its property interests in the Madden area. All of the U.S. operations are considered one operating and reportable segment. Financial Information by Business Segment 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 a nations Total Year Ended December 31, 2016 Revenues: Unaffiliated customers $ 444 $ 240 $ 684 $ 2,241 $ 510 $ 2,751 $ 3,233 $ — $ 3,833 $ 1,825 $ 991 b $ 13,317 $ 1,513 c $ — $ 14,830 Intersegment 1,511 2,179 3,690 187 — 187 62 186 29 5 (4,159 ) — — — — Production and delivery 1,169 1,763 2,932 1,351 d 407 1,758 1,794 d 199 3,836 1,712 (3,388 ) 8,843 1,801 e 53 10,697 Depreciation, depletion and amortization 217 313 530 443 110 553 384 68 10 29 73 1,647 869 14 2,530 Impairment of oil and gas properties — — — — — — — — — — — — 4,299 18 f 4,317 Metals inventory adjustments — 1 1 — — — — 15 — — 20 36 — — 36 Selling, general and administrative expenses 2 3 5 8 1 9 90 — — 17 15 136 254 g 217 607 Mining exploration and research expenses — 3 3 — — — — — — — 61 64 — — 64 Environmental obligations and shutdown costs — — — — — — — — — — 19 19 — 1 20 Net (gain) loss on sales of assets (576 ) — (576 ) — — — — — — — (67 ) (643 ) 1 (7 ) (649 ) Operating income (loss) 1,143 336 1,479 626 (8 ) 618 1,027 (96 ) 16 72 99 3,215 (5,711 ) (296 ) (2,792 ) Interest expense, net 3 1 4 82 — 82 — — — 15 80 181 369 205 755 Provision for (benefit from) income taxes — — — 222 (6 ) 216 442 — — — — 658 — (287 ) 371 Total assets at December 31, 2016 2,863 4,448 7,311 9,076 1,533 10,609 10,954 1,934 220 658 1,444 33,130 467 3,720 37,317 Capital expenditures 77 25 102 380 2 382 1,025 2 1 17 109 h 1,638 1,127 i 48 2,813 Year Ended December 31, 2015 Revenues: Unaffiliated customers $ 558 $ 351 $ 909 $ 1,065 $ 808 $ 1,873 $ 2,617 $ — $ 4,125 $ 1,955 $ 1,133 b $ 12,612 $ 1,994 c $ 1 $ 14,607 Intersegment 1,646 2,571 4,217 68 (7 ) j 61 36 348 29 15 (4,706 ) — — — — Production and delivery d 1,523 2,276 3,799 815 623 1,438 1,808 312 4,129 1,848 (3,851 ) 9,483 1,211 e (1 ) 10,693 Depreciation, depletion and amortization 217 343 560 219 133 352 293 97 9 39 72 1,422 1,804 14 3,240 Impairment of oil and gas properties — — — — — — — — — — — — 12,980 164 f 13,144 Metals inventory adjustments — 142 142 — 73 73 — 11 — — 112 338 — — 338 Selling, general and administrative expenses 3 3 6 3 1 4 103 — — 16 20 149 188 221 558 Mining exploration and research expenses — 7 7 — — — — — — — 100 107 — — 107 Environmental obligations and shutdown costs — 3 3 — — — — — — — 74 77 — 1 78 Net gain on sales of assets — (39 ) (39 ) — — — — — — — — (39 ) — — (39 ) Operating income (loss) 461 187 648 96 (29 ) 67 449 (72 ) 16 67 (100 ) 1,075 (14,189 ) (398 ) (13,512 ) Interest expense, net 2 2 4 16 — 16 — — — 10 75 105 186 326 617 Provision for (benefit from) income taxes — — — 13 (9 ) 4 195 — — — — 199 — (2,150 ) (1,951 ) Total assets at December 31, 2015 3,567 4,878 8,445 9,445 1,661 11,106 9,357 1,999 219 612 6,417 h 38,155 8,141 281 46,577 Capital expenditures 253 102 355 1,674 48 1,722 901 13 4 23 277 h 3,295 2,948 i 110 6,353 a. Includes the results of the Deepwater GOM and onshore California oil and gas properties prior to their sale in December 2016. 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. Includes net mark-to-market (losses) gains of $(35) million in 2016 and $87 million in 2015 associated with oil derivative contracts. The 2016 oil derivative contracts were entered into as part of the terms to sell the onshore California oil and gas properties. d. The year 2016 includes charges of $16 million at Cerro Verde for social commitments and $17 million at Indonesia for asset impairment. The year 2015 includes asset impairment and restructuring charges totaling $145 million , including $99 million at other North America copper mines, and restructuring charges totaling $13 million at South America mines, $7 million at Molybdenum mines, $3 million at Rod & Refining, $20 million at Other Mining & Eliminations and $3 million at Corporate, Other & Eliminations. e. Includes net charges for oil and gas operations totaling $1.0 billion in 2016 and $188 million in 2015 , primarily for drillship settlements/idle rig and contract termination costs, inventory adjustments other asset impairments and net charges. f. Reflects impairment charges for international oil and gas properties primarily in Morocco. g. Includes $85 million for net restructuring charges at oil and gas operations. h. Includes (i) assets held for sale totaling $4.9 billion at December 31, 2015 , and (ii) capital expenditures totaling $73 million in 2016 and $229 million in 2015 associated with discontinued operations. Refer to Note 2 for a summary of the results of discontinued operations. i. Excludes international oil and gas capital expenditures totaling $47 million in 2016 and $100 million in 2015 , primarily related to the Morocco oil and gas properties, which are included in Corporate, Other & Eliminations. j. Reflects net reductions for provisional pricing adjustments to prior open sales. 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 a Total Grasberg Mines Refining & Refining nations Mining Operations b nations Total Year Ended December 31, 2014 Revenues: Unaffiliated customers $ 364 $ 336 $ 700 $ 1,282 $ 1,740 $ 3,022 $ 2,848 $ — $ 4,626 $ 2,391 $ 1,704 c $ 15,291 $ 4,710 d $ — $ 20,001 Intersegment 1,752 3,164 4,916 206 304 510 223 587 29 21 (6,286 ) — — — — Production and delivery 1,287 2,153 3,440 741 1,198 1,939 1,988 328 4,633 2,356 (4,807 ) 9,877 1,237 e 2 11,116 Depreciation, depletion and amortization 168 316 484 159 208 367 266 92 10 41 70 1,330 2,291 14 3,635 Impairment of oil and gas properties — — — — — — — — — — — — 3,737 — 3,737 Metals inventory adjustments — — — — — — — — — — 6 6 — — 6 Selling, general and administrative expenses 2 3 5 3 3 6 98 — — 17 25 151 207 222 580 Mining exploration and research expenses — 8 8 — — — — — — — 98 106 — — 106 Environmental obligations and shutdown costs — (5 ) (5 ) — — — — — — — 123 118 — 1 119 Goodwill impairment — — — — — — — — — — — — 1,717 — 1,717 Net gain on sales of assets — (14 ) (14 ) — — — — — — — (703 ) f (717 ) — — (717 ) Operating income (loss) 659 1,039 1,698 585 635 1,220 719 167 12 (2 ) 606 4,420 (4,479 ) (239 ) (298 ) Interest expense, net 3 1 4 1 — 1 — — — 13 84 102 241 263 606 Provision for income taxes — — — 265 266 531 293 — — — 221 f 1,045 — (820 ) 225 Total assets at December 31, 2014 3,780 5,611 9,391 7,490 1,993 9,483 8,592 2,095 235 898 6,426 g 37,120 20,834 720 58,674 Capital expenditures 826 143 969 1,691 94 1,785 935 54 4 17 217 g 3,981 3,205 h 29 7,215 a. Includes the results of the Candelaria and Ojos del Salado mines prior to their sale in November 2014. b. Includes the results of Eagle Ford shale assets prior to their sale in June 2014. c. Includes revenues from FCX's molybdenum sales company, which included sales of molybdenum produced by the Molybdenum mines and by certain of the North and South America copper mines. d. Includes net mark-to-market gains associated with crude oil and natural gas derivative contracts totaling $505 million . e. Includes charges at U.S. Oil & Gas operations totaling $46 million primarily for idle/terminated rig costs and inventory adjustments. f. Includes the gain and related income tax provision associated with the sale of the Candelaria and Ojos del Salado mines. g. Includes (i) assets held for sale totaling $4.8 billion and (ii) capital expenditures totaling $159 million 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 $19 million , primarily related to Morocco oil and gas properties, which are included in Corporate, Other & Eliminations.

GUARANTOR FINANCIAL STATEMENTS

GUARANTOR FINANCIAL STATEMENTS GUARANTOR FINANCIAL STATEMENTS	12 Months Ended
	Dec. 31, 2016
Guarantor Financial Statements [Abstract]
Guarantor Financial Statements	GUARANTOR FINANCIAL STATEMENTS All of the senior notes issued by FCX and discussed in Note 8 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 to all of FM O&G LLC's existing and future subordinated indebtedness and is effectively subordinated in right of payment to (i) FM O&G LLC's future secured indebtedness to the extent of the value of the assets securing the indebtedness and (ii) any debt of FM O&G LLC's subsidiaries. The indentures governing the senior notes 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 revolving credit facility or any other senior debt or, in each case, any refinancing thereof. 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 December 31, 2016 and 2015 , and the related condensed consolidating statements of comprehensive (loss) income and the condensed consolidating statements of cash flows for the years ended December 31, 2016 , 2015 and 2014 , which should be read in conjunction with FCX's notes to the consolidated financial statements: CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2016 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX ASSETS Current assets, other than assets held for sale $ 230 $ 1,790 $ 11,331 $ (3,260 ) $ 10,091 Current assets held for sale — — 344 — 344 Property, plant, equipment and mine development costs, net 19 24 23,176 — 23,219 Oil and gas properties, net - full cost method: Subject to amortization, less accumulated amortization and impairments — — 74 — 74 Investments in consolidated subsidiaries 21,110 — — (21,110 ) — Other assets 1,985 47 3,522 (1,965 ) 3,589 Total assets $ 23,344 $ 1,861 $ 38,447 $ (26,335 ) $ 37,317 LIABILITIES AND EQUITY Current liabilities, other than liabilities held for sale $ 3,895 $ 308 $ 3,101 $ (3,244 ) $ 4,060 Current liabilities held for sale — — 205 — 205 Long-term debt, less current portion 12,517 6,062 11,297 (15,081 ) 14,795 Deferred income taxes 826 a — 2,942 — 3,768 Environmental and asset retirement obligations, less current portion — 200 3,287 — 3,487 Investments in consolidated subsidiary — 893 8,995 (9,888 ) — Other liabilities 55 3,393 1,784 (3,487 ) 1,745 Total liabilities 17,293 10,856 31,611 (31,700 ) 28,060 Equity: Stockholders' equity 6,051 (8,995 ) 4,237 4,758 6,051 Noncontrolling interests — — 2,599 607 3,206 Total equity 6,051 (8,995 ) 6,836 5,365 9,257 Total liabilities and equity $ 23,344 $ 1,861 $ 38,447 $ (26,335 ) $ 37,317 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 $ 10,062 $ (7,532 ) $ 6,542 Current assets held for sale — — 920 — 920 Property, plant, equipment and mine development costs, net 26 57 23,903 — 23,986 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 3,584 (6,798 ) 3,650 Assets held for sale — — 4,386 — 4,386 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 $ 5,024 $ (7,526 ) $ 4,176 Current liabilities held for sale — — 131 — 131 Long-term debt, less current portion 14,735 5,883 11,490 (12,433 ) 19,675 Deferred income taxes 941 a — 2,626 — 3,567 Environmental and asset retirement obligations, less current portion — 305 3,409 — 3,714 Investment in consolidated subsidiary — — 2,397 (2,397 ) — Other liabilities 40 3,360 1,732 (3,491 ) 1,641 Liabilities held for sale — — 865 — 865 Total liabilities 21,728 10,214 27,674 (25,847 ) 33,769 Redeemable noncontrolling interest — — 764 — 764 Equity: Stockholders' equity 7,828 (2,397 ) 15,725 (13,328 ) 7,828 Noncontrolling interests — — 3,676 540 4,216 Total equity 7,828 (2,397 ) 19,401 (12,788 ) 12,044 Total liabilities and equity $ 29,556 $ 7,817 $ 47,839 $ (38,635 ) $ 46,577 a. All U.S. related deferred income taxes are recorded at the parent company . CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE (LOSS) INCOME Year Ended December 31, 2016 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 379 $ 14,451 $ — $ 14,830 Total costs and expenses 75 3,074 a 14,463 a 10 17,622 Operating loss (75 ) (2,695 ) (12 ) (10 ) (2,792 ) Interest expense, net (534 ) (56 ) (498 ) 333 (755 ) Other income (expense), net 271 — 70 (292 ) 49 Net gain on exchanges and early extinguishment of debt 26 — — — 26 (Loss) income before income taxes and equity in affiliated companies' net (losses) earnings (312 ) (2,751 ) (440 ) 31 (3,472 ) (Provision for) benefit from income taxes (2,233 ) 1,053 821 (12 ) (371 ) Equity in affiliated companies' net (losses) earnings (1,609 ) (3,101 ) (4,790 ) 9,511 11 Net (loss) income from continuing operations (4,154 ) (4,799 ) (4,409 ) 9,530 (3,832 ) Net loss from discontinued operations — — (154 ) (39 ) (193 ) Net (loss) income (4,154 ) (4,799 ) (4,563 ) 9,491 (4,025 ) Net income, and gain on redemption and preferred dividends attributable to noncontrolling interests: Continuing operations — — — (66 ) (66 ) Discontinued operations — — (63 ) — (63 ) Net (loss) income attributable to common stockholders $ (4,154 ) $ (4,799 ) $ (4,626 ) $ 9,425 $ (4,154 ) Other comprehensive (loss) income (45 ) — (45 ) 45 (45 ) Total comprehensive (loss) income $ (4,199 ) $ (4,799 ) $ (4,671 ) $ 9,470 $ (4,199 ) 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. Year Ended December 31, 2015 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 613 $ 13,994 $ — $ 14,607 Total costs and expenses 60 5,150 a 22,920 a (11 ) 28,119 Operating (loss) income (60 ) (4,537 ) (8,926 ) 11 (13,512 ) Interest expense, net (489 ) (8 ) (272 ) 152 (617 ) Other income (expense), net 225 1 (86 ) (139 ) 1 (Loss) income before income taxes and equity in affiliated companies' net (losses) earnings (324 ) (4,544 ) (9,284 ) 24 (14,128 ) (Provision for) benefit from income taxes (3,227 ) 1,718 3,469 (9 ) 1,951 Equity in affiliated companies' net (losses) earnings (8,685 ) (9,976 ) (12,838 ) 31,496 (3 ) Net (loss) income from continuing operations (12,236 ) (12,802 ) (18,653 ) 31,511 (12,180 ) Net income from discontinued operations — — 91 — 91 Net (loss) income (12,236 ) (12,802 ) (18,562 ) 31,511 (12,089 ) Net income and preferred dividends attributable to noncontrolling interests: Continuing operations — — (35 ) (33 ) (68 ) Discontinued operations — — (79 ) — (79 ) Net (loss) income attributable to common stockholders $ (12,236 ) $ (12,802 ) $ (18,676 ) $ 31,478 $ (12,236 ) Other comprehensive income (loss) 41 — 41 (41 ) 41 Total comprehensive (loss) income $ (12,195 ) $ (12,802 ) $ (18,635 ) $ 31,437 $ (12,195 ) a. Includes impairment charges totaling $4.2 billion at the FM O&G LLC Guarantor and $8.9 billion at the non-guarantor subsidiaries related to FCX's oil and gas properties pursuant to full cost accounting rules. CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE (LOSS) INCOME Year Ended December 31, 2014 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 2,356 $ 17,645 $ — $ 20,001 Total costs and expenses 59 3,498 a 16,720 a 22 20,299 Operating (loss) income (59 ) (1,142 ) 925 (22 ) (298 ) Interest expense, net (382 ) (139 ) (165 ) 80 (606 ) Net (loss) gain on early extinguishment of debt (5 ) 78 — — 73 Other income (expense), net 72 3 36 (80 ) 31 (Loss) income before income taxes and equity in affiliated companies' net earnings (losses) (374 ) (1,200 ) 796 (22 ) (800 ) Benefit from (provision for) income taxes 96 281 (610 ) 8 (225 ) Equity in affiliated companies' net (losses) earnings (1,007 ) (3,429 ) (4,633 ) 9,072 3 Net (loss) income from continuing operations (1,285 ) (4,348 ) (4,447 ) 9,058 (1,022 ) Net (loss) income from discontinued operations (23 ) — 300 — 277 Net (loss) income (1,308 ) (4,348 ) (4,147 ) 9,058 (745 ) Net income and preferred dividends attributable to noncontrolling interests: Continuing operations — — (354 ) (44 ) (398 ) Discontinued operations — — (165 ) — (165 ) Net (loss) income attributable to common stockholders $ (1,308 ) $ (4,348 ) $ (4,666 ) $ 9,014 $ (1,308 ) Other comprehensive (loss) income (139 ) — (139 ) 139 (139 ) Total comprehensive (loss) income $ (1,447 ) $ (4,348 ) $ (4,805 ) $ 9,153 $ (1,447 ) a. Includes impairment charges totaling $1.9 billion at the FM O&G LLC Guarantor and $3.5 billion at the non-guarantor subsidiaries related to ceiling test impairment charges for FCX's oil and gas properties pursuant to full cost accounting rules and a goodwill impairment charge. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Year Ended December 31, 2016 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Cash flow from operating activities: Net (loss) income $ (4,154 ) $ (4,799 ) $ (4,563 ) $ 9,491 $ (4,025 ) Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: Depreciation, depletion and amortization 5 192 2,430 (17 ) 2,610 Impairment of oil and gas properties — 1,531 2,765 21 4,317 Non-cash oil and gas drillship settlements — 689 — — 689 Net gain on sales of assets — (86 ) (567 ) 4 (649 ) Equity in losses (earnings) of consolidated subsidiaries 1,609 3,101 4,790 (9,511 ) (11 ) Other, net (95 ) 30 807 (1 ) 741 Changes in working capital and other tax payments, excluding amounts from dispositions 2,498 (929 ) (1,527 ) 15 57 Net cash (used in) provided by operating activities (137 ) (271 ) 4,135 2 3,729 Cash flow from investing activities: Capital expenditures — (567 ) (2,248 ) 2 (2,813 ) Intercompany loans 481 (346 ) — (135 ) — Dividends from (investments in) consolidated subsidiaries 1,469 (45 ) 176 (1,600 ) — Proceeds from sales of assets 2 1,670 4,687 (4 ) 6,355 Other, net — 3 5 — 8 Net cash provided by (used in) investing activities 1,952 715 2,620 (1,737 ) 3,550 Cash flow from financing activities: Proceeds from debt 1,721 — 1,960 — 3,681 Repayments of debt (5,011 ) — (2,614 ) — (7,625 ) Intercompany loans — (332 ) 197 135 — Net proceeds from sale of common stock 1,515 — 3,388 (3,388 ) 1,515 Cash dividends and distributions paid, including redemption (6 ) (107 ) (5,555 ) 4,969 (699 ) Other, net (34 ) (3 ) (20 ) 19 (38 ) Net cash (used in) provided by financing activities (1,815 ) (442 ) (2,644 ) 1,735 (3,166 ) Net increase in cash and cash equivalents — 2 4,111 — 4,113 Increase in cash and cash equivalents in assets held for sale — — (45 ) — (45 ) Cash and cash equivalents at beginning of year — — 177 — 177 Cash and cash equivalents at end of year $ — $ 2 $ 4,243 $ — $ 4,245 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Year Ended December 31, 2015 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Cash flow from operating activities: Net (loss) income $ (12,236 ) $ (12,802 ) $ (18,562 ) $ 31,511 $ (12,089 ) Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: Depreciation, depletion and amortization 5 370 3,195 (73 ) 3,497 Impairment of oil and gas properties — 4,220 8,862 62 13,144 Metals inventory adjustments — — 338 — 338 Other asset impairments, oil and gas inventory adjustments, and restructuring — 11 245 — 256 Net gains on crude oil and natural gas derivative contracts — (87 ) — — (87 ) Equity in losses (earnings) of consolidated subsidiaries 8,685 9,976 12,838 (31,496 ) 3 Other, net (2,127 ) 2 (90 ) — (2,215 ) Changes in working capital and other tax payments 5,506 (1,428 ) (3,714 ) 9 373 Net cash (used in) provided by operating activities (167 ) 262 3,112 13 3,220 Cash flow from investing activities: Capital expenditures (7 ) (847 ) (5,486 ) (13 ) (6,353 ) Intercompany loans (1,812 ) (1,310 ) — 3,122 — Dividends from (investments in) consolidated subsidiaries 852 (71 ) 130 (913 ) (2 ) Other, net (21 ) (2 ) 111 21 109 Net cash (used in) provided by investing activities (988 ) (2,230 ) (5,245 ) 2,217 (6,246 ) Cash flow from financing activities: Proceeds from debt 4,503 — 3,769 — 8,272 Repayments of debt (4,660 ) — (2,017 ) — (6,677 ) Intercompany loans — 2,038 1,084 (3,122 ) — Net proceeds from sale of common stock 1,936 — — — 1,936 Cash dividends and distributions paid (605 ) — (924 ) 804 (725 ) Other, net (19 ) (71 ) (18 ) 88 (20 ) Net cash provided by (used in) financing activities 1,155 1,967 1,894 (2,230 ) 2,786 Net decrease in cash and cash equivalents — (1 ) (239 ) — (240 ) Decrease in cash and cash equivalents in assets held for sale — — 119 — 119 Cash and cash equivalents at beginning of year — 1 297 — 298 Cash and cash equivalents at end of year $ — $ — $ 177 $ — $ 177 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Year Ended December 31, 2014 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Cash flow from operating activities: Net (loss) income $ (1,308 ) $ (4,348 ) $ (4,147 ) $ 9,058 $ (745 ) Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: Depreciation, depletion and amortization 4 806 3,077 (24 ) 3,863 Impairment of oil and gas properties and goodwill — 1,922 3,486 46 5,454 Net gains on crude oil and natural gas derivative contracts — (504 ) — — (504 ) Equity in losses (earnings) of consolidated subsidiaries 1,007 3,429 4,633 (9,072 ) (3 ) Other, net (882 ) (113 ) (807 ) — (1,802 ) Changes in working capital and other tax payments, excluding amounts from dispositions 723 (1,750 ) 395 — (632 ) Net cash (used in) provided by operating activities (456 ) (558 ) 6,637 8 5,631 Cash flow from investing activities: Capital expenditures — (2,143 ) (5,072 ) — (7,215 ) Acquisition of Deepwater GOM interests — — (1,426 ) — (1,426 ) Intercompany loans (1,328 ) 704 — 624 — Dividends from (investments in) consolidated subsidiaries 1,221 (130 ) (2,408 ) 1,317 — Proceeds from sale of Eagle Ford shale assets — 2,910 — — 2,910 Proceeds from sale of Candelaria and Ojos del Salado mines — — 1,709 — 1,709 Other, net — 41 180 — 221 Net cash (used in) provided by investing activities (107 ) 1,382 (7,017 ) 1,941 (3,801 ) Cash flow from financing activities: Proceeds from debt 7,464 — 1,246 — 8,710 Repayments of debt (5,575 ) (3,994 ) (737 ) — (10,306 ) Intercompany loans — 810 (186 ) (624 ) — Cash dividends and distributions paid (1,305 ) 2,364 (1,463 ) (1,325 ) (1,729 ) Other, net (21 ) (3 ) (2 ) — (26 ) Net cash provided by (used in) financing activities 563 (823 ) (1,142 ) (1,949 ) (3,351 ) Net increase (decrease) in cash and cash equivalents — 1 (1,522 ) — (1,521 ) Increase in cash and cash equivalents in assets held for sale — — (45 ) — (45 ) Cash and cash equivalents at beginning of year — — 1,864 — 1,864 Cash and cash equivalents at end of year $ — $ 1 $ 297 $ — $ 298

(Notes)

(Notes)	12 Months Ended
	Dec. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS FCX evaluated events after December 31, 2016 , and through the date the 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 financial statements.

QUARTERLY FINANCIAL INFORMATION

QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Notes)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information	QUARTERLY FINANCIAL INFORMATION (UNAUDITED) First Quarter Second Quarter Third Quarter Fourth Quarter Year 2016 Revenues $ 3,242 $ 3,334 $ 3,877 $ 4,377 a $ 14,830 a Operating (loss) income b,c (3,872 ) d 18 d,e 359 d,e,f 703 e,f (2,792 ) d,e,f Net (loss) income from continuing operations g (4,097 ) (229 ) 292 202 (3,832 ) Net loss from discontinued operations h (4 ) (181 ) (6 ) (2 ) (193 ) Net (loss) income (4,101 ) (410 ) 286 200 (4,025 ) Net income and preferred dividends attributable to noncontrolling interests: Continuing operations (73 ) (57 ) (47 ) 111 i (66 ) i Discontinued operations (10 ) (12 ) (22 ) (19 ) (63 ) Net (loss) income attributable to common stockholders (4,184 ) (479 ) 217 292 (4,154 ) Basic and diluted net (loss) income per share attributable common stockholders: Continuing operations $ (3.34 ) $ (0.23 ) $ 0.18 $ 0.22 $ (2.96 ) Discontinued operations (0.01 ) (0.15 ) (0.02 ) (0.01 ) (0.20 ) $ (3.35 ) $ (0.38 ) $ 0.16 $ 0.21 $ (3.16 ) 2015 Revenues a $ 3,771 $ 3,938 $ 3,382 $ 3,516 $ 14,607 Operating loss b,c,d (3,030 ) e (2,421 ) (3,964 ) f (4,097 ) f (13,512 ) e,f Net loss from continuing operations (2,447 ) (1,828 ) j (3,815 ) (4,090 ) (12,180 ) j Net income (loss) from discontinued operations h 41 29 25 (4 ) 91 Net loss (2,406 ) (1,799 ) (3,790 ) (4,094 ) (12,089 ) Net (income) loss and preferred dividends attributable to noncontrolling interests: Continuing operations (42 ) (26 ) (24 ) 24 (68 ) Discontinued operations (26 ) (26 ) (16 ) (11 ) (79 ) Net loss attributable to common stockholders (2,474 ) (1,851 ) (3,830 ) (4,081 ) (12,236 ) Basic and diluted net (loss) income per share attributable common stockholders: Continuing operations $ (2.40 ) $ (1.78 ) $ (3.59 ) $ (3.46 ) $ (11.32 ) Discontinued operations 0.02 — 0.01 (0.01 ) 0.01 $ (2.38 ) $ (1.78 ) $ (3.58 ) $ (3.47 ) $ (11.31 ) a. Includes charges for net noncash mark-to-market losses associated with crude oil and natural gas derivative contracts totaling $41 million ( $41 million to net income (loss) attributable to common stockholders or $0.03 per share) in the fourth quarter and for the year 2016, $48 million ( $30 million to net loss attributable to common stockholders or $0.03 per share) in first-quarter 2015, $95 million ( $59 million to net loss attributable to common stockholders or $0.06 per share) in second-quarter 2015, $74 million ( $46 million to net loss attributable to common stockholders or $0.04 per share) in third-quarter 2015, $102 million ( $63 million to net loss attributable to common stockholders or $0.05 per share) in fourth-quarter 2015 and $319 million ( $198 million to net loss attributable to common stockholders or $0.18 per share) for the year 2015. b. The 2016 periods include charges at oil and gas operations impacting operating (loss) income and net (loss) income attributable to common stockholders of $201 million ( $0.16 per share) in the first quarter, $729 million ( $0.57 per share) in the second quarter, $50 million ( $0.03 per share) in the third quarter, $142 million ( $0.09 per share) in the fourth quarter and $1.1 billion ( $0.84 per share) for the year, primarily for drillship settlements/idle rig costs, inventory adjustments and other asset impairments and restructuring charges. The 2015 periods include charges at oil and gas operations of $17 million ( $10 million to net loss attributable to common stockholders or $0.01 per share) in the first quarter, $22 million ( $14 million to net loss attributable to common stockholders or $0.01 per share) in the second quarter, $21 million ( $13 million to net loss attributable to common stockholders or $0.01 per share) in the third quarter, $129 million ( $81 million to net loss attributable to common stockholders or $0.07 per share) in the fourth quarter and $188 million ( $117 million to net loss attributable to common stockholders or $0.11 per share) for the year, primarily for other asset impairments, inventory adjustments, idle/terminated rig costs and prior year mineral tax assessments related to the California properties. c. The 2016 periods include charges impacting operating (loss) income and net (loss) income attributable to common stockholders for metals inventory adjustments totaling $5 million (less than $0.01 per share) in the first quarter, $2 million (less than $0.01 per share) in the second quarter, $20 million ( $0.01 per share) in the third quarter, $9 million ( $0.01 per share) in the fourth quarter and $36 million ( $0.03 per share) for the year. The 2015 periods include charges for metal inventory adjustments of $4 million ( $3 million to net loss attributable to common stockholders or less than $0.01 per share) in the first quarter, $59 million ( $38 million to net loss attributable to common stockholders or $0.04 per share) in the second quarter, $91 million ( $58 million to net loss attributable to common stockholders or $0.05 per share) in the third quarter, $184 million ( $118 million to net loss attributable to common stockholders or $0.10 per share) in the fourth quarter and $338 million ( $217 million to net loss attributable to common stockholders or $0.20 per share) for the year. d. The 2016 periods include charges impacting operating (loss) income and net (loss) income attributable to common stockholders to reduce the carrying value of oil and gas properties pursuant to full cost accounting rules of $3.8 billion ( $3.03 per share) in the first quarter, $291 million ( $0.23 per share) in the second quarter, $239 million ( $0.18 per share) in the third quarter and $4.3 billion ( $3.28 per share) for the year. The 2015 periods include charges to reduce the carrying value of oil and gas properties pursuant to full cost accounting rules of $3.1 billion ( $2.4 billion to net loss attributable to common stockholders or $2.31 per share) in the first quarter, $2.7 billion ( $2.0 billion to net loss attributable to common stockholders or $1.90 per share) in the second quarter, $3.7 billion ( $3.5 billion to net loss attributable to common stockholders or $3.25 per share) in the third quarter, $3.7 billion ( $3.7 billion to net loss attributable to common stockholders or $3.18 per share) in the fourth quarter and $13.1 billion ( $11.6 billion to net loss attributable to common stockholders or $10.72 per share) for the year. e. Includes net gains (losses) on sales of assets of $749 million ( $744 million to net loss attributable to common stockholders or $0.59 per share) in second-quarter 2016, $13 million ( $13 million to net income attributable to common stockholders or $0.01 per share) in third-quarter 2016, $(113) million ( $(108) million to net income attributable to common stockholders or $(0.08) per share) in fourth-quarter 2016 and $649 million ( $649 million to net loss attributable to common stockholders or $0.49 per share) for the year 2016, primarily associated with the Morenci and Timok transactions, partly offset with losses associated with the potential Freeport Cobalt and Kisanfu transactions and the sales of oil and gas properties (refer to Note 2 for further discussion). Net gains on sales of assets for 2015 totaled $39 million ( $25 million to net loss attributable to common stockholders or $0.02 per share) in the first quarter and for the year associated with the sale of the Luna Energy power facility. f. The 2016 periods include charges from mining operations of $17 million ( $9 million to net income attributable to common stockholders or $0.01 per share) in the third quarter, $16 million ( $5 million to net income attributable to common stockholders or less than $0.01 per share) in the fourth quarter and $33 million ( $14 million to net loss attributable to common stockholders or $0.01 per share) for the year, primarily for a PT-FI asset retirement and Cerro Verde social commitments. The 2015 periods include charges from mining operations of $92 million ( $56 million to net loss attributable to common stockholders or $0.05 per share) in the third quarter, $53 million ( $34 million to net loss attributable to common stockholders or $0.03 per share) in the fourth quarter and $145 million ( $90 million to net loss attributable to common stockholders or $0.08 per share) for the year associated with asset impairment, restructuring and other net charges. g. Includes net (losses) gains on exchanges and early extinguishment of debt totaling $(3) million (less than ($0.01) per share) in the first quarter, $39 million ( $0.03 per share) in the second quarter, $15 million ( $0.01 per share) in the third quarter, $(25) million ( $(0.02) per share) in the fourth quarter and $26 million ( $0.02 per share) for the year. Refer to Note 8 for further discussion. h. Reflects the results of TFHL and includes charges for allocated interest expense associated with the portion of the Term Loan that was required to be repaid as a result of the sale of FCX's interest in TFHL, which was completed on November 16, 2016. The 2016 periods also include charges for the loss on disposal of $177 million ( $0.14 per share) in the second quarter, $5 million (less than $0.01 per share) in the third quarter, $16 million ( $0.01 per share) in the fourth quarter and $198 million ( $0.15 per share) for the year. Refer to Note 2 for further discussion of discontinued operations. i. Includes a gain on redemption of noncontrolling interest for the settlement of FCX's preferred stock obligation at its Plains Offshore subsidiary (refer to Notes 1 and 2 for further discussion) totaling $199 million ( $0.14 per share in the fourth quarter and $0.15 per share for the year). j. Includes a gain of $92 million ( $0.09 per share) in the second quarter and for the year associated with the net proceeds received from insurance carriers and other third parties related to the shareholder derivative litigation settlement.

SUPPLEMENTARY MINERAL RESERVE I

SUPPLEMENTARY MINERAL RESERVE INFORMATION (UNAUDITED) SUPPLEMENTARY MINERAL RESERVE INFORMATION	12 Months Ended
	Dec. 31, 2016
Supplementary Mineral Reserve Information [Abstract]
Estimated Recoverable Proven and Probable Reserves by Location	SUPPLEMENTARY MINERAL RESERVE INFORMATION (UNAUDITED) Recoverable proven and probable reserves have been calculated as of December 31, 2016 , in accordance with Industry Guide 7 as required by the Securities Exchange Act of 1934. FCX’s proven and probable reserves may not be comparable to similar information regarding mineral reserves disclosed in accordance with the guidance in other countries. Proven and probable reserves were determined by the use of mapping, drilling, sampling, assaying and evaluation methods generally applied in the mining industry, as more fully discussed below. The term “reserve,” as used in the reserve data presented here, means that part of a mineral deposit that can be economically and legally extracted or produced at the time of the reserve determination. The term “proven reserves” means reserves for which (i) quantity is computed from dimensions revealed in outcrops, trenches, workings or drill holes; (ii) grade and/or quality are computed from the results of detailed sampling; and (iii) the sites for inspection, sampling and measurements are spaced so closely and the geologic character is sufficiently defined that size, shape, depth and mineral content of reserves are well established. The term “probable reserves” means reserves for which quantity and grade are computed from information similar to that used for proven reserves but the sites for sampling are farther apart or are otherwise less adequately spaced. The degree of assurance, although lower than that for proven reserves, is high enough to assume continuity between points of observation. FCX’s reserve estimates are based on the latest available geological and geotechnical studies. FCX conducts ongoing studies of its ore bodies to optimize economic values and to manage risk. FCX revises its mine plans and estimates of proven and probable mineral reserves as required in accordance with the latest available studies. Estimated recoverable proven and probable reserves at December 31, 2016 , were determined using long-term average prices of $2.00 per pound for copper, $1,000 per ounce for gold and $10 per pound for molybdenum. For the three-year period ended December 31, 2016 , LME spot copper prices averaged $2.60 per pound, London PM gold prices averaged $1,226 per ounce and the weekly average price for molybdenum quoted by Metals Week averaged $8.18 per pound. The recoverable proven and probable reserves presented in the table below represent the estimated metal quantities from which FCX expects to be paid after application of estimated metallurgical recovery rates and smelter recovery rates, where applicable. Recoverable reserves are that part of a mineral deposit that FCX estimates can be economically and legally extracted or produced at the time of the reserve determination. Recoverable Proven and Probable Mineral Reserves Estimated at December 31, 2016 Copper a (billion pounds) Gold (million ounces) Molybdenum (billion pounds) North America 30.4 0.3 2.31 South America 29.5 — 0.64 Indonesia b 26.9 25.8 — Consolidated c 86.8 26.1 2.95 Net equity interest d 70.5 23.7 2.65 a. Consolidated recoverable copper reserves included 2.2 billion pounds in leach stockpiles and 1.0 billion pounds in mill stockpiles. b. Recoverable proven and probable reserves reflect estimates of minerals that can be recovered through the end of 2041 (refer to Note 13 for discussion of PT-FI's COW). c. Consolidated reserves represent estimated metal quantities after reduction for joint venture partner interests at the Morenci mine in North America and the Grasberg minerals district in Indonesia (refer to Note 3 for further discussion of FCX's joint ventures). Excluded from the table above were FCX’s estimated recoverable proven and probable reserves of 281.8 million ounces of silver in North America, South America and Indonesia, which were determined using a long-term average price of $15 per ounce. d. Net equity interest reserves represent estimated consolidated metal quantities further reduced for noncontrolling interest ownership (refer to Note 3 for further discussion of FCX's ownership in subsidiaries). Excluded from the table above were FCX’s estimated recoverable proven and probable reserves of 226.0 million ounces of silver in North America, South America and Indonesia. Recoverable Proven and Probable Mineral Reserves Estimated at December 31, 2016 Average Ore Grade Per Metric Ton a Recoverable Proven and Probable Reserves b Ore a (million metric tons) Copper (%) Gold (grams) Molybdenum (%) Copper (billion pounds) Gold (million ounces) Molybdenum (billion pounds) North America Developed and producing: Morenci 3,274 0.27 — — c 12.8 — 0.15 Sierrita 2,434 0.23 — c 0.02 10.4 0.1 1.04 Bagdad 1,244 0.32 — c 0.02 7.4 0.1 0.36 Chino 226 0.47 0.02 — c 2.1 0.1 0.01 Climax 170 — — 0.15 — — 0.54 Henderson 77 — — 0.17 — — 0.25 Safford 75 0.31 — — 0.6 — — Tyrone 6 0.51 — — 0.2 — — Miami — — — — 0.1 — — Undeveloped: Cobre 86 0.34 — — 0.4 — — South America Developed and producing: Cerro Verde 3,673 0.37 — 0.01 26.7 — 0.64 El Abra 431 0.45 — — 2.8 — — Indonesia d Developed and producing: Deep Mill Level Zone 439 0.90 0.75 — 7.6 8.4 — Deep Ore Zone 100 0.51 0.70 — 1.0 1.8 — Big Gossan 60 2.19 0.97 — 2.6 1.3 — Grasberg open pit 56 1.26 2.11 — 1.7 3.4 — Under development: Grasberg Block Cave 964 1.03 0.78 — 18.5 15.7 — Undeveloped: Kucing Liar 408 1.26 1.10 — 9.7 6.7 — Total 100% basis 13,723 104.6 37.6 2.99 Consolidated e 86.8 26.1 2.95 FCX’s equity share f 70.5 23.7 2.65 a. Excludes material contained in stockpiles. b. Includes estimated recoverable metals contained in stockpiles. c. Amounts not shown because of rounding. d. Recoverable proven and probable reserves reflect estimates of minerals that can be recovered through the end of 2041 (refer to Note 13 for discussion of PT-FI's COW). e. Consolidated reserves represent estimated metal quantities after reduction for joint venture partner interests at the Morenci mine in North America and the Grasberg minerals district in Indonesia. Refer to Note 3 for further discussion of FCX's joint ventures. f. Net equity interest reserves represent estimated consolidated metal quantities further reduced for noncontrolling interest ownership. Refer to Note 3 for further discussion of FCX's ownership in subsidiaries.

SUPPLEMENTARY OIL AND GAS INFOR

SUPPLEMENTARY OIL AND GAS INFORMATION (UNAUDITED) SUPPLEMENTARY OIL AND GAS INFORMATION (UNAUDITED)	12 Months Ended
	Dec. 31, 2016
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
Oil and Gas Exploration and Production Industries Disclosures [Text Block]	SUPPLEMENTARY OIL AND GAS INFORMATION (UNAUDITED) Costs Incurred. A summary of the costs incurred for FCX's oil and gas acquisition, exploration and development activities for the years ended December 31 follows: 2016 2015 2014 Property acquisition costs: Proved properties $ — $ — $ 463 Unproved properties 7 61 1,460 Exploration costs 22 1,250 1,482 Development costs 749 1,442 1,270 $ 778 $ 2,753 $ 4,675 These amounts included increases (decreases) in AROs of $37 million in 2016 , $(80) million in 2015 and $(27) million in 2014 , capitalized general and administrative expenses of $78 million in 2016 , $124 million in 2015 and $143 million in 2014 , and capitalized interest of $7 million in 2016 , $58 million in 2015 and $88 million in 2014 . Capitalized Costs. The aggregate capitalized costs subject to amortization for oil and gas properties and the aggregate related accumulated amortization as of December 31 follow: 2016 2015 2014 Properties subject to amortization $ 27,507 $ 24,538 $ 16,547 Accumulated amortization (27,433 ) a (22,276 ) a (7,360 ) a $ 74 $ 2,262 $ 9,187 a. Includes charges of $4.3 billion in 2016 , $13.1 billion in 2015 and $3.7 billion in 2014 to reduce the carrying value of oil and gas properties pursuant to full cost accounting rules. The average amortization rate per barrel of oil equivalents (BOE) was $17.58 in 2016 , $33.46 in 2015 and $39.74 in 2014 . Costs Not Subject to Amortization. Including amounts determined to be impaired, FCX transferred $4.9 billion of costs associated with unevaluated properties to the full cost pool in 2016. Sales of unevaluated properties totaled $1.6 billion in 2016. Following FCX's disposition of its Deepwater GOM and onshore California oil and gas properties in fourth-quarter 2016, the carrying value of all of FCX's remaining oil and gas properties is included in the amortization base at December 31, 2016. Results of Operations for Oil and Gas Producing Activities. The results of operations from oil and gas producing activities for the years ended December 31, 2016 , 2015 and 2014 , presented below exclude non-oil and gas revenues, general and administrative expenses, goodwill impairment, interest expense and interest income. Income tax benefit was determined by applying the statutory rates to pre-tax operating results: 2016 2015 2014 Revenues from oil and gas producing activities $ 1,513 $ 1,994 $ 4,710 Production and delivery costs (1,829 ) a (1,215 ) (1,237 ) Depreciation, depletion and amortization (839 ) (1,772 ) (2,265 ) Impairment of oil and gas properties (4,317 ) (13,144 ) (3,737 ) Income tax benefit (based on FCX's U.S. federal statutory tax rate) — b 5,368 958 Results of operations from oil and gas producing activities $ (5,472 ) $ (8,769 ) $ (1,571 ) a. Includes $926 million in charges related to drillship settlements/idle rig and contract termination costs. b. FCX has provided a full valuation allowance on losses associated with oil and gas activities in 2016. Proved Oil and Natural Gas Reserve Information. The following information summarizes the net proved reserves of oil (including condensate and natural gas liquids (NGLs)) and natural gas and the standardized measure as described below. All of FCX's oil and natural gas reserves are located in the U.S. Management believes the reserve estimates presented herein are reasonable and prepared in accordance with guidelines established by the SEC as prescribed in Regulation S-X, Rule 4-10. However, there are numerous uncertainties inherent in estimating quantities and values of proved reserves and in projecting future rates of production and the amount and timing of development expenditures, including many factors beyond FCX's control. Reserve engineering is a subjective process of estimating the recovery from underground accumulations of oil and natural gas that cannot be measured in an exact manner, and the accuracy of any reserve estimate is a function of the quality of available data and of engineering and geological interpretation and judgment. Because all oil and natural gas reserve estimates are to some degree subjective, the quantities of oil and natural gas that are ultimately recovered, production and operating costs, the amount and timing of future development expenditures, and future crude oil and natural gas sales prices may all differ from those assumed in these estimates. In addition, different reserve engineers may make different estimates of reserve quantities and cash flows based upon the same available data. Therefore, the standardized measure of discounted future net cash flows (Standardized Measure) shown below represents estimates only and should not be construed as the current market value of the estimated reserves attributable to FCX's oil and gas properties. In this regard, the information set forth in the following tables includes revisions of reserve estimates attributable to proved properties acquired from PXP and MMR, and reflect additional information from subsequent development activities, production history of the properties involved and any adjustments in the projected economic life of such properties resulting from changes in product prices. Decreases in the prices of crude oil and natural gas could have an adverse effect on the carrying value of the proved reserves, reserve volumes and FCX's revenues, profitability and cash flows. FCX's reference prices for reserve determination are the WTI spot price for crude oil and the Henry Hub price for natural gas. As of February 2017, the twelve-month average of the first-day-of-the-month historical reference price for crude oil has increased from $42.75 per barrel at December 31, 2016 , to $45.99 per barrel, while the comparable price for natural gas has increased from $2.48 per MMBtu at December 31, 2016 , to $2.65 per MMBtu. The market price for GOM crude oil differs from WTI as a result of a large portion of FCX's production being sold under a Heavy Louisiana Sweet based pricing. Approximately 59 percent of FCX's December 31, 2016 , oil and natural gas reserve volumes are attributable to properties in the GOM where oil price realizations are generally higher because of these marketing contracts. Estimated Quantities of Oil and Natural Gas Reserves. The following table sets forth certain data pertaining to proved, proved developed and proved undeveloped reserves, all of which are in the U.S., for the years ended December 31, 2016 , 2015 and 2014 . Oil Gas Total (MMBbls) a,b (Bcf) a (MMBOE) a 2016 Proved reserves: Balance at beginning of year 207 274 252 Extensions and discoveries — — — Acquisitions of reserves in-place — — — Revisions of previous estimates 1 — 1 Sale of reserves in-place (168 ) (118 ) (187 ) Production (36 ) (69 ) (48 ) Balance at end of year 4 87 18 Proved developed reserves at December 31, 2016 4 87 18 Proved undeveloped reserves at December 31, 2016 — — — Oil Gas Total (MMBbls) a,b (Bcf) a (MMBOE) a 2015 Proved reserves: Balance at beginning of year 288 610 390 Extensions and discoveries 11 43 17 Acquisitions of reserves in-place — — — Revisions of previous estimates (54 ) (287 ) (102 ) Sale of reserves in-place — (2 ) — Production (38 ) (90 ) (53 ) Balance at end of year 207 274 252 Proved developed reserves at December 31, 2015 129 245 169 Proved undeveloped reserves at December 31, 2015 78 29 83 2014 Proved reserves: Balance at beginning of year 370 562 464 Extensions and discoveries 10 35 16 Acquisitions of reserves in-place 14 9 16 Revisions of previous estimates (10 ) 140 13 Sale of reserves in-place (53 ) (54 ) (62 ) Production (43 ) (82 ) (57 ) Balance at end of year 288 610 390 Proved developed reserves at December 31, 2014 184 369 246 Proved undeveloped reserves at December 31, 2014 104 241 144 a. MMBbls = million barrels; Bcf = billion cubic feet; MMBOE = million BOE b. Includes NGL proved reserves of 1 MMBbls (all developed) at December 31, 2016 , 9 MMBbls ( 6 MMBbls of developed and 3 MMBbls of undeveloped) at December 31, 2015 , and 10 MMBbls ( 7 MMBbls of developed and 3 MMBbls of undeveloped) at December 31, 2014 . For the year ended December 31, 2015 , FCX had a total of 17 MMBOE of extensions and discoveries, including 14 MMBOE in the Deepwater GOM, primarily associated with the continued successful development at Horn Mountain and 3 MMBOE in the Haynesville shale assets resulting from continued successful drilling that extended and developed FCX's proved acreage. For the year ended December 31, 2014 , FCX had a total of 16 MMBOE of extensions and discoveries, including 8 MMBOE in the Deepwater GOM, primarily associated with the continued successful development at Horn Mountain and 5 MMBOE in the Haynesville shale resulting from continued successful drilling that extended and developed FCX's proved acreage. For the year ended December 31, 2015 , FCX had net negative revisions of 102 MMBOE primarily related to lower oil and gas price realizations. For the year ended December 31, 2014 , FCX had net positive revisions of 13 MMBOE primarily related to improved gas price realizations in both the Haynesville shale assets and Madden field, as well as continued improved performance in the Eagle Ford shale assets prior to the disposition, partially offset by the downward revisions of certain proved undeveloped reserves resulting from deferred development plans, as well as lower oil price realizations and higher steam-related operating expenses resulting from higher natural gas prices at certain onshore California properties. Excluding the impact of crude oil derivative contracts, the average realized sales prices used in FCX's reserve reports as of December 31, 2016 , were $34.26 per barrel of crude oil and $2.40 per one thousand cubic feet (Mcf) of natural gas. As of December 31, 2015 , the average realized sales prices used in FCX's reserve report were $47.80 per barrel of crude oil and $2.55 per Mcf. For the year ended December 31, 2014 , FCX acquired reserves in-place totaling 16 MMBOE from the acquisition of interests in the Deepwater GOM, including interests in the Lucius and Heidelberg oil fields. For the year ended December 31, 2016 , FCX sold reserves in-place totaling 187 MMBOE primarily representing all of its Deepwater GOM, onshore California and Haynesville properties. For the year ended December 31, 2014 , FCX sold reserves in-place totaling 62 MMBOE primarily related to its Eagle Ford shale assets. Standardized Measure. The Standardized Measure (discounted at 10 percent ) from production of proved oil and natural gas reserves has been developed in accordance with SEC guidelines. FCX estimated the quantity of proved oil and natural gas reserves and the future periods in which they are expected to be produced based on year-end economic conditions. Estimates of future net revenues from FCX's proved oil and gas properties and the present value thereof were made using the twelve-month average of the first-day-of-the-month historical reference prices as adjusted for location and quality differentials, which are held constant throughout the life of the oil and gas properties, except where such guidelines permit alternate treatment, including the use of fixed and determinable contractual price escalations (excluding the impact of crude oil derivative contracts). Future gross revenues were reduced by estimated future operating costs (including production and ad valorem taxes) and future development and abandonment costs, all of which were based on current costs in effect at December 31, 2016 , 2015 and 2014 , and held constant throughout the life of the oil and gas properties. Future income taxes were calculated by applying the statutory federal and state income tax rate to pre-tax future net cash flows, net of the tax basis of the respective oil and gas properties and utilization of FCX's available tax carryforwards related to its oil and gas operations. The Standardized Measure related to proved oil and natural gas reserves as of December 31 follows: 2016 2015 2014 Future cash inflows $ 345 $ 10,536 $ 29,504 Future production expense (175 ) (4,768 ) (10,991 ) Future development costs a (439 ) (4,130 ) (6,448 ) Future income tax expense — — (2,487 ) Future net cash flows (269 ) 1,638 9,578 Discounted at 10% per year 32 (246 ) (3,157 ) Standardized Measure $ (237 ) $ 1,392 $ 6,421 a. Includes estimated asset retirement costs of $0.4 billion at December 31, 2016 , $1.9 billion at December 31, 2015 , and $1.8 billion at December 31, 2014 . A summary of the principal sources of changes in the Standardized Measure for the years ended December 31 follows: 2016 2015 2014 Balance at beginning of year $ 1,392 $ 6,421 $ 9,417 Changes during the year: Sales, net of production expenses (831 ) (928 ) (3,062 ) Net changes in sales and transfer prices, net of production expenses (341 ) (7,766 ) (2,875 ) Extensions, discoveries and improved recoveries — 45 194 Changes in estimated future development costs, including timing and other 146 1,287 (498 ) Previously estimated development costs incurred during the year 295 985 982 Sales of reserves in-place (1,049 ) — (1,323 ) Other purchases of reserves in-place — — 487 Revisions of quantity estimates 12 (1,170 ) 399 Accretion of discount 139 797 1,195 Net change in income taxes — 1,721 1,505 Total changes (1,629 ) (5,029 ) (2,996 ) Balance at end of year $ (237 ) $ 1,392 $ 6,421

SCHEDULE II - VALUATION AND QUA

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
	Dec. 31, 2016
Valuation and Qualifying Accounts [Abstract]
Schedule II - Valuation and Qualifying Accounts	Additions (Deductions) Balance at Charged to Charged to Other Balance at Beginning of Costs and Other Additions End of Year Expense Accounts (Deductions) Year Reserves and allowances deducted from asset accounts: Valuation allowance for deferred tax assets Year Ended December 31, 2016 $ 4,183 $ 1,852 $ 23 a $ — $ 6,058 Year Ended December 31, 2015 2,434 1,749 — — 4,183 Year Ended December 31, 2014 2,487 (53 ) — — 2,434 Reserves for non-income taxes: Year Ended December 31, 2016 $ 83 $ 13 $ (3 ) $ (29 ) b $ 64 Year Ended December 31, 2015 93 9 — (19 ) b 83 Year Ended December 31, 2014 78 16 — (1 ) b 93 a. Relates to a valuation allowance for tax benefits primarily associated with actuarial losses for U.S. defined benefit plans included in other comprehensive loss. b. Represents amounts paid or adjustments to reserves based on revised estimates.

SUMMARY OF SIGNIFICANT ACCOUN30

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation. The consolidated financial statements of Freeport-McMoRan Inc. (FCX) include the accounts of those subsidiaries where it directly or indirectly has more than 50 percent of the voting rights and has the right to control significant management decisions. The most significant entities that FCX consolidates include its 90.64 percent -owned subsidiary PT Freeport Indonesia (PT-FI), and the following wholly owned subsidiaries: Freeport Minerals Corporation (FMC), Atlantic Copper, S.L.U. (Atlantic Copper) and FCX Oil & Gas LLC (FM O&G, formerly FCX Oil & Gas Inc.). FCX acquired mining assets in North America, South America and Africa when it acquired Phelps Dodge Corporation (now known as FMC) in 2007. FCX acquired oil and gas operations when it acquired Plains Exploration & Production Company (PXP) and McMoRan Exploration Co. (MMR), collectively known as FM O&G, in 2013. During 2014 and 2016, FCX completed sales of certain of its operating assets. Refer to Note 2 for further discussion. FCX’s unincorporated joint ventures with Rio Tinto plc (Rio Tinto), Sumitomo Metal Mining Arizona, Inc. (Sumitomo) and SMM Morenci, Inc. (an affiliate of Sumitomo Metal Mining Co., Ltd.) are reflected using the proportionate consolidation method (refer to Note 3 for further discussion). Investments in unconsolidated companies owned 20 percent or more are recorded using the equity method. Investments in companies owned less than 20 percent , and for which FCX does not exercise significant influence, are carried at cost. All significant intercompany transactions have been eliminated. Dollar amounts in tables are stated in millions, except per share amounts.
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. FCX's reportable segments include the Morenci, Cerro Verde and Grasberg copper mines, the Rod & Refining operations and the United States (U.S.) Oil & Gas operations. Refer to Note 16 for further discussion.
Use of Estimates	Use of Estimates. The preparation of FCX’s financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the amounts reported in these financial statements and accompanying notes. The more significant areas requiring the use of management estimates include reserve estimation (minerals, and oil and natural gas); timing of transfers of oil and gas properties not subject to amortization into the full cost pool; asset lives for depreciation, depletion and amortization; environmental obligations; asset retirement obligations; estimates of recoverable copper in mill and leach stockpiles; deferred taxes and valuation allowances; reserves for contingencies and litigation; asset impairment, including estimates used to derive future cash flows associated with those assets; pension benefits; and valuation of derivative instruments. Actual results could differ from those estimates.
Functional Currency	Functional Currency. The functional currency for the majority of FCX's foreign operations is the U.S. dollar. For foreign subsidiaries whose functional currency is the U.S. dollar, monetary assets and liabilities denominated in the local currency are translated at current exchange rates, and non-monetary assets and liabilities, such as inventories, property, plant, equipment and mine development costs, are translated at historical rates. Gains and losses resulting from translation of such account balances are included in other income (expense), as are gains and losses from foreign currency transactions. Foreign currency gains (losses) totaled $32 million in 2016 , $(90) million in 2015 and $(2) million in 2014 .
Cash Equivalents	Cash Equivalents. Highly liquid investments purchased with maturities of three months or less are considered cash equivalents.
Inventories	Inventories. Inventories include mill and leach stockpiles, materials and supplies, and product inventories. Beginning in third-quarter 2015 because of the adoption of new accounting guidance, inventories are stated at the lower of weighted-average cost or net realizable value (NRV). Mill and Leach Stockpiles. Mill and leach stockpiles are work-in-process inventories for FCX's mining operations. Mill and leach stockpiles have been extracted from an ore body and are available for copper recovery. Mill stockpiles contain sulfide ores and recovery of metal is through milling, concentrating and smelting and refining or, alternatively, by concentrate leaching. Leach stockpiles contain oxide ores and certain secondary sulfide ores and recovery of metal is through exposure to acidic solutions that dissolve contained copper and deliver it in solution to extraction processing facilities ( i.e., solution extraction and electrowinning (SX/EW)). The recorded cost of mill and leach stockpiles includes mining and haulage costs incurred to deliver ore to stockpiles, depreciation, depletion, amortization and site overhead costs. Material is removed from the stockpiles at a weighted-average cost per pound. Because it is generally impracticable to determine copper contained in mill and leach stockpiles by physical count, reasonable estimation methods are employed. The quantity of material delivered to mill and leach stockpiles is based on surveyed volumes of mined material and daily production records. Sampling and assaying of blasthole cuttings determine the estimated copper grade of the material delivered to mill and leach stockpiles. Expected copper recovery rates for mill stockpiles are determined by metallurgical testing. The recoverable copper in mill stockpiles, once entered into the production process, can be produced into copper concentrate almost immediately. Expected copper recovery rates for leach stockpiles are determined using small-scale laboratory tests, small- to large-scale column testing (which simulates the production process), historical trends and other factors, including mineralogy of the ore and rock type. Total copper recovery in leach stockpiles can vary significantly from a low percentage to more than 90 percent depending on several variables, including processing methodology, processing variables, mineralogy and particle size of the rock. For newly placed material on active stockpiles, as much as 80 percent of the total copper recovery may occur during the first year, and the remaining copper may be recovered over many years. Processes and recovery rates for mill and leach stockpiles are monitored regularly, and recovery rate estimates are adjusted periodically as additional information becomes available and as related technology changes. Adjustments to recovery rates will typically result in a future impact to the value of the material removed from the stockpiles at a revised weighted-average cost per pound of recoverable copper. Product Inventories. Product inventories include raw materials, work-in-process and finished goods. Raw materials are primarily unprocessed concentrate at Atlantic Copper's smelting and refining operations. Work-in-process inventories are primarily copper concentrate at various stages of conversion into anode and cathode at Atlantic Copper's operations. Atlantic Copper’s in-process inventories are valued at the weighted-average cost of the material fed to the smelting and refining process plus in-process conversion costs. Finished goods for mining operations represent salable products ( e.g. , copper and molybdenum concentrate, copper anode, copper cathode, copper rod, copper wire, molybdenum oxide, and high-purity molybdenum chemicals and other metallurgical products). Finished goods are valued based on the weighted-average cost of source material plus applicable conversion costs relating to associated process facilities. Costs of finished goods and work-in-process ( i.e. , not raw materials) inventories include labor and benefits, supplies, energy, depreciation, depletion, amortization, site overhead costs and other necessary costs associated with the extraction and processing of ore, including, depending on the process, mining, haulage, milling, concentrating, smelting, leaching, solution extraction, refining, roasting and chemical processing. Corporate general and administrative costs are not included in inventory costs.
Property, Plant, Equipment and Mine Development Costs	Property, Plant, Equipment and Mine Development Costs. Property, plant, equipment and mine development costs are carried at cost. Mineral exploration costs, as well as drilling and other costs incurred for the purpose of converting mineral resources to proven and probable reserves or identifying new mineral resources at development or production stage properties, are charged to expense as incurred. Development costs are capitalized beginning after proven and probable mineral reserves have been established. Development costs include costs incurred resulting from mine pre-production activities undertaken to gain access to proven and probable reserves, including shafts, adits, drifts, ramps, permanent excavations, infrastructure and removal of overburden. Additionally, interest expense allocable to the cost of developing mining properties and to constructing new facilities is capitalized until assets are ready for their intended use. Expenditures for replacements and improvements are capitalized. Costs related to periodic scheduled maintenance ( i.e. , turnarounds) are charged to expense as incurred. Depreciation for mining and milling life-of-mine assets, infrastructure and other common costs is determined using the unit-of-production (UOP) method based on total estimated recoverable proven and probable copper reserves (for primary copper mines) and proven and probable molybdenum reserves (for primary molybdenum mines). Development costs and acquisition costs for proven and probable mineral reserves that relate to a specific ore body are depreciated using the UOP method based on estimated recoverable proven and probable mineral reserves for the ore body benefited. Depreciation, depletion and amortization using the UOP method is recorded upon extraction of the recoverable copper or molybdenum from the ore body, at which time it is allocated to inventory cost and then included as a component of cost of goods sold. Other assets are depreciated on a straight-line basis over estimated useful lives of up to 39 years for buildings and three to 30 years for machinery and equipment, and mobile equipment. Included in property, plant, equipment and mine development costs is value beyond proven and probable mineral reserves (VBPP), primarily resulting from FCX’s acquisition of FMC in 2007. The concept of VBPP may be interpreted differently by different mining companies. FCX’s VBPP is attributable to (i) mineralized material, which includes measured and indicated amounts, that FCX believes could be brought into production with the establishment or modification of required permits and should market conditions and technical assessments warrant, (ii) inferred mineral resources and (iii) exploration potential. Carrying amounts assigned to VBPP are not charged to expense until the VBPP becomes associated with additional proven and probable mineral reserves and the reserves are produced or the VBPP is determined to be impaired. Additions to proven and probable mineral reserves for properties with VBPP will carry with them the value assigned to VBPP at the date acquired, less any impairment amounts. Refer to Note 5 for further discussion.
Impairment of Long-Lived Mining Assets	Impairment of Long-Lived Mining Assets. FCX assesses the carrying values of its long-lived mining assets for impairment when events or changes in circumstances indicate that the related carrying amounts of such assets may not be recoverable. In evaluating long-lived mining assets for recoverability, estimates of pre-tax undiscounted future cash flows of FCX’s individual mines are used. An impairment is considered to exist if total estimated undiscounted future cash flows are less than the carrying amount of the asset. Once it is determined that an impairment exists, an impairment loss is measured as the amount by which the asset carrying value exceeds its fair value. The estimated undiscounted cash flows used to assess recoverability of long-lived assets and to measure the fair value of FCX’s mining operations are derived from current business plans, which are developed using near-term price forecasts reflective of the current price environment and management’s projections for long-term average metal prices. In addition to near- and long-term metal price assumptions, other key assumptions include estimates of commodity-based and other input costs; proven and probable mineral reserves estimates, including the timing and cost to develop and produce the reserves; VBPP estimates; and the use of appropriate discount rates. FCX believes its estimates and models used to determine fair value are similar to what a market participant would use. As quoted market prices are unavailable for FCX’s individual mining operations, fair value is determined through the use of after-tax discounted estimated future cash flows ( i.e. , Level 3 measurement).
Oil and Gas Properties	Oil and Gas Properties. FCX follows the full cost method of accounting specified by the U.S. Securities and Exchange Commission's (SEC) rules whereby all costs associated with oil and gas property acquisition, exploration and development activities are capitalized into a cost center on a country-by-country basis. Such costs include internal general and administrative costs, such as payroll and related benefits and costs directly attributable to employees engaged in acquisition, exploration and development activities. General and administrative costs associated with production, operations, marketing and general corporate activities are charged to expense as incurred. Capitalized costs, along with estimated future costs to develop proved reserves and asset retirement costs that are not already included in oil and gas properties, net of related salvage value, are amortized to expense under the UOP method using engineers' estimates of the related, by-country proved oil and natural gas reserves. The costs of unproved oil and gas properties are excluded from amortization until the properties are evaluated. Costs are transferred into the amortization base on an ongoing basis as the properties are evaluated and proved oil and natural gas reserves are established or if impairment is determined. Unproved oil and gas properties are assessed periodically, at least annually, to determine whether impairment has occurred. FCX assesses unproved oil and gas properties for impairment on an individual basis or as a group if properties are individually insignificant. The assessment considers the following factors, among others: intent to drill, remaining lease term, geological and geophysical evaluations, drilling results and activity, the assignment of proved reserves, the economic viability of development if proved reserves are assigned and other current market conditions. During any period in which these factors indicate an impairment, the cumulative drilling costs incurred to date for such property and all or a portion of the associated leasehold costs are transferred to the full cost pool and are then subject to amortization. Including amounts determined to be impaired, FCX transferred $4.9 billion of costs associated with unevaluated properties to the full cost pool in 2016 , $6.4 billion in 2015 and $2.5 billion in 2014 . The transfer of costs into the amortization base involves a significant amount of judgment and may be subject to changes over time based on drilling plans and results, geological and geophysical evaluations, the assignment of proved oil and natural gas reserves, availability of capital and other factors. Costs not subject to amortization consist primarily of capitalized costs incurred for undeveloped acreage and wells in progress pending determination, together with capitalized interest for these projects. The ultimate evaluation of the properties occurs over a period of several years. Following the completion of the sales of oil and gas properties discussed in Note 2, FCX had no unproved oil and gas properties in the consolidated balance sheets at December 31, 2016. Interest costs totaling $7 million in 2016 , $58 million in 2015 and $88 million in 2014 were capitalized on oil and gas properties not subject to amortization and in the process of development. Proceeds from the sale of oil and gas properties are accounted for as reductions to capitalized costs unless the reduction causes a significant change in proved reserves, which absent other factors, is generally described as a 25 percent or greater change, and significantly alters the relationship between capitalized costs and proved reserves attributable to a cost center, in which case a gain or loss is recognized. Impairment of Oil and Gas Properties. Under the 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 natural gas reserves, net of estimated future income taxes; plus • the cost of the related unproved properties not being amortized; plus • the lower of cost or estimated fair value of the related unproved properties included in the costs being amortized (net of related tax effects). These rules require that FCX price its future oil and gas production at the twelve-month average of the first-day-of-the-month historical reference prices as adjusted for location and quality differentials. FCX's reference prices are West Texas Intermediate (WTI) for oil and the Henry Hub price for natural gas. Such prices are utilized except where different prices are fixed and determinable from applicable contracts for the remaining term of those contracts. The reserve estimates exclude the effect of any crude oil and natural gas derivatives FCX has in place. The estimated future net cash flows also exclude future cash outflows associated with settling asset retirement obligations included in the net book value of the oil and gas properties. The rules require an impairment if the capitalized costs exceed this “ceiling.” In 2016, 2015 and 2014, net capitalized costs with respect to FCX's proved oil and gas properties exceeded the related ceiling test limitation; therefore, impairment charges of $4.3 billion were recorded in 2016 , $13.1 billion in 2015 and $3.7 billion in 2014, primarily because of the lower twelve-month average of the first-day-of-the-month historical reference oil price and reserve revisions. The twelve-month average WTI reference oil price was $42.75 per barrel at December 31, 2016 , compared with $50.28 per barrel at December 31, 2015 , and $94.99 per barrel at December 31, 2014 .
Goodwill	Goodwill. Goodwill has an indefinite useful life and is not amortized, but rather is tested for impairment at least annually during the fourth quarter, unless events occur or circumstances change between annual tests that would more likely than not reduce the fair value of a related reporting unit below its carrying value. Impairment occurs when the carrying amount of goodwill exceeds its implied fair value. FCX generally uses a discounted cash flow model to determine if the carrying value of a reporting unit, including goodwill, is less than the fair value of the reporting unit. FCX's approach to allocating goodwill includes the identification of the reporting unit it believes has contributed to the excess purchase price and includes consideration of the reporting unit's potential for future growth. Goodwill of $1.9 billion arose in 2013 with FCX's acquisitions of PXP and MMR, and was allocated to the U.S. oil and gas reporting unit. When a sale of oil and gas properties occurs, goodwill is allocated to that property based on the relationship of the fair value of the property sold to the total reporting unit's fair value.
Deferred Mining Costs	Deferred Mining Costs. Stripping costs ( i.e. , the costs of removing overburden and waste material to access mineral deposits) incurred during the production phase of a mine are considered variable production costs and are included as a component of inventory produced during the period in which stripping costs are incurred. Major development expenditures, including stripping costs to prepare unique and identifiable areas outside the current mining area for future production that are considered to be pre-production mine development, are capitalized and amortized using the UOP method based on estimated recoverable proven and probable reserves for the ore body benefited. However, where a second or subsequent pit or major expansion is considered to be a continuation of existing mining activities, stripping costs are accounted for as a current production cost and a component of the associated inventory.
Environmental Expenditures	Environmental Obligations. Environmental expenditures are charged to expense or capitalized, depending upon their future economic benefits. Accruals for such expenditures are recorded when it is probable that obligations have been incurred and the costs can be reasonably estimated. Environmental obligations attributed to the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (CERCLA) or analogous state programs are considered probable when a claim is asserted, or is probable of assertion, and FCX, or any of its subsidiaries, have been associated with the site. Other environmental remediation obligations are considered probable based on specific facts and circumstances. FCX’s estimates of these costs are based on an evaluation of various factors, including currently available facts, existing technology, presently enacted laws and regulations, remediation experience, whether or not FCX is a potentially responsible party (PRP) and the ability of other PRPs to pay their allocated portions. With the exception of those obligations assumed in the acquisition of FMC that were initially recorded at estimated fair values (refer to Note 12 for further discussion), environmental obligations are recorded on an undiscounted basis. Where the available information is sufficient to estimate the amount of the obligation, that estimate has been used. Where the information is only sufficient to establish a range of probable liability and no point within the range is more likely than any other, the lower end of the range has been used. Possible recoveries of some of these costs from other parties are not recognized in the consolidated financial statements until they become probable. Legal costs associated with environmental remediation (such as fees to outside law firms for work relating to determining the extent and type of remedial actions and the allocation of costs among PRPs) are included as part of the estimated obligation. Environmental obligations assumed in the acquisition of FMC, which were initially recorded at fair value and estimated on a discounted basis, are accreted to full value over time through charges to interest expense. Adjustments arising from changes in amounts and timing of estimated costs and settlements may result in increases and decreases in these obligations and are calculated in the same manner as they were initially estimated. Unless these adjustments qualify for capitalization, changes in environmental obligations are charged to operating income when they occur. FCX performs a comprehensive review of its environmental obligations annually and also reviews changes in facts and circumstances associated with these obligations at least quarterly.
Asset Retirement Obligations	Asset Retirement Obligations. FCX records the fair value of estimated asset retirement obligations (AROs) associated with tangible long-lived assets in the period incurred. Retirement obligations associated with long-lived assets are those for which there is a legal obligation to settle under existing or enacted law, statute, written or oral contract or by legal construction. These obligations, which are initially estimated based on discounted cash flow estimates, are accreted to full value over time through charges to cost of sales. In addition, asset retirement costs (ARCs) are capitalized as part of the related asset’s carrying value and are depreciated over the asset’s respective useful life. For mining operations, reclamation costs for disturbances are recognized as an ARO and as a related ARC (included in property, plant, equipment and mine development costs) in the period of the disturbance and depreciated primarily on a UOP basis. FCX’s AROs for mining operations consist primarily of costs associated with mine reclamation and closure activities. These activities, which are site specific, generally include costs for earthwork, revegetation, water treatment and demolition. For oil and gas properties, the fair value of the legal obligation is recognized as an ARO and as a related ARC (included in oil and gas properties) in the period in which the well is drilled or acquired and is amortized on a UOP basis together with other capitalized costs. Substantially all of FCX’s oil and gas leases require that, upon termination of economic production, the working interest owners plug and abandon non-producing wellbores; remove platforms, tanks, production equipment and flow lines; and restore the wellsite. At least annually, FCX reviews its ARO estimates for changes in the projected timing of certain reclamation and closure/restoration costs, changes in cost estimates and additional AROs incurred during the period.
Redeemable Noncontrolling Interest - PXP	Redeemable Noncontrolling Interest - PXP. FCX assumed ownership of Plains Offshore Operations Inc. (Plains Offshore) in connection with its acquisition of PXP in 2013. In 2011, PXP had issued (i) 450,000 shares of Plains Offshore (a consolidated subsidiary of FM O&G) 8% Convertible Preferred Stock (Preferred Stock) for gross proceeds of $450 million and (ii) non-detachable warrants with an exercise price of $20 per share to purchase in aggregate 9.1 million shares of Plains Offshore's common stock. In 2011, Plains Offshore also issued 87 million shares of Plains Offshore Class A common stock, which was to be held in escrow until the conversion and cancellation of the Preferred Stock or the exercise of the warrants. In January 2014, Plains Offshore issued (i) 24,000 shares of Preferred Stock for gross proceeds of $24 million and (ii) non-detachable warrants with an exercise price of $20 per share to purchase in aggregate 0.5 million shares of Plains Offshore's common stock. Plains Offshore held certain of FM O&G's oil and gas properties and assets located in the Gulf of Mexico (GOM) in water depths of 500 feet or more, including the Lucius oil field and the Phobos discovery, but excluding the properties acquired by PXP in 2012 from BP Exploration & Production Inc., BP America Production Company and Shell Offshore Inc. The Preferred Stock represented a 20 percent equity interest in Plains Offshore and was entitled to a dividend of 8 percent per annum, payable quarterly, of which 2 percent could be deferred. In connection with the December 2016 sale of the Deepwater GOM oil and gas properties, FCX settled the Preferred Stock obligation. Refer to Note 2 for further discussion. The Preferred Stock of Plains Offshore was classified as temporary equity because of its redemption features and was therefore reported outside of permanent equity in FCX's consolidated balance sheets.
Revenue Recognition	Revenue Recognition. FCX sells its products pursuant to sales contracts entered into with its customers. Revenue for all FCX’s products is recognized when title and risk of loss pass to the customer and when collectibility is reasonably assured. The passing of title and risk of loss to the customer are based on terms of the sales contract, generally upon shipment or delivery of product. Revenues from FCX’s concentrate and cathode sales are recorded based on a provisional sales price or a final sales price calculated in accordance with the terms specified in the relevant sales contract. Revenues from concentrate sales are recorded net of treatment and all refining charges and the impact of derivative contracts. Moreover, because a portion of the metals contained in copper concentrate is unrecoverable as a result of the smelting process, FCX’s revenues from concentrate sales are also recorded net of allowances based on the quantity and value of these unrecoverable metals. These allowances are a negotiated term of FCX’s contracts and vary by customer. Treatment and refining charges represent payments or price adjustments to smelters and refiners that are generally fixed. Under the long-established structure of sales agreements prevalent in the mining industry, copper contained in concentrate and cathode are generally provisionally priced at the time of shipment. The provisional prices are finalized in a specified future month (generally one to four months from the shipment date) based on quoted monthly average spot copper prices on the London Metal Exchange (LME) or the Commodity Exchange Inc. (COMEX), a division of the New York Mercantile Exchange (NYMEX). FCX receives market prices based on prices in the specified future month, which results in price fluctuations recorded to revenues until the date of settlement. FCX records revenues and invoices customers at the time of shipment based on then-current LME or COMEX prices, which results in an embedded derivative ( i.e. , a pricing mechanism that is finalized after the time of delivery) that is required to be bifurcated from the host contract. The host contract is the sale of the metals contained in the concentrate or cathode at the then-current LME or COMEX price. FCX applies the normal purchases and normal sales scope exception in accordance with derivatives and hedge accounting guidance to the host contract in its concentrate or cathode sales agreements since these contracts do not allow for net settlement and always result in physical delivery. The embedded derivative does not qualify for hedge accounting and is adjusted to fair value through earnings each period, using the period-end forward prices, until the date of final pricing. Gold sales are priced according to individual contract terms, generally the average London Bullion Market Association (London) price for a specified month near the month of shipment. The majority of FCX’s molybdenum sales are priced based on the average published Metals Week price, plus conversion premiums for products that undergo additional processing, such as ferromolybdenum and molybdenum chemical products, for the month prior to the month of shipment. FCX has also incorporated changes in the commercial pricing structure for its molybdenum-based chemical products to enable continuation of chemical-grade production. PT-FI concentrate sales and Sociedad Minera Cerro Verde S.A.A. (Cerro Verde) metal sales are subject to certain royalties, which are recorded as a reduction to revenues. Cerro Verde is a subsidiary of FMC. In addition, PT-FI concentrate sales are also subject to export duties since 2014, which are recorded as a reduction to revenues. Refer to Note 13 for further discussion. Oil and gas revenue from FCX's interests in producing wells is recognized upon delivery and passage of title, net of any royalty interests or other profit interests in the produced product. Oil sales are primarily under contracts with prices based upon regional benchmarks. Gas sales are generally priced daily based on prices in the spot market. Gas revenue is recorded using the sales method for gas imbalances. If FCX's sales of production volumes for a well exceed its portion of the estimated remaining recoverable reserves of the well, a liability is recorded. No receivables are recorded for those wells on which FCX has taken less than its ownership share of production unless the amount taken by other parties exceeds the estimate of their remaining reserves. There were no material gas imbalances at December 31, 2016 .
Stock-Based Compensation	Stock-Based Compensation. Compensation costs for share-based payments to employees are measured at fair value and charged to expense over the requisite service period for awards that are expected to vest. The fair value of stock options is determined using the Black-Scholes-Merton option valuation model. The fair value for stock-settled restricted stock units (RSUs) is based on FCX's stock price on the date of grant. Shares of common stock are issued at the vesting date for stock-settled RSUs. The fair value of performance share units (PSUs) are determined using a Monte-Carlo simulation model. The fair value for liability-classified awards ( i.e. , cash-settled stock appreciation rights (SARs), cash-settled RSUs and cash-settled PSUs) is remeasured each reporting period using the Black-Scholes-Merton option valuation model for SARs and FCX's stock price for cash-settled RSUs and cash-settled PSUs. FCX has elected to recognize compensation costs for stock option awards and SARs that vest over several years on a straight-line basis over the vesting period, and for RSUs and cash-settled PSUs on the graded-vesting method over the vesting period. Refer to Note 10 for further discussion.
Earnings Per Share	Earnings Per Share. FCX calculates its basic earnings per share under the two-class method and calculates its diluted earnings per share using the more dilutive of the two-class method or the treasury stock method. Basic and diluted net loss per share of common stock were computed by dividing net loss attributable to common stockholders (after deducting accumulated dividends to participating securities) by the weighted-average shares of common stock outstanding during the year. All potentially dilutive shares of common stock have been excluded from the computation of weighted-average shares of common stock outstanding since their inclusion would be anti-dilutive because of the net loss reported for each year. A reconciliation of net loss and weighted-average shares of common stock outstanding for purposes of calculating basic and diluted net (loss) income per share for the years ended December 31 follows: 2016 2015 2014 Net loss from continuing operations $ (3,832 ) $ (12,180 ) $ (1,022 ) Net income from continuing operations attributable to noncontrolling interests (227 ) (27 ) (358 ) Gain on redemption and preferred dividends attributable to redeemable noncontrolling interest 161 (41 ) (40 ) Accumulated dividends on participating securities (3 ) (3 ) (3 ) Net loss from continuing operations attributable to common stockholders $ (3,901 ) $ (12,251 ) $ (1,423 ) Net (loss) income from discontinued operations (193 ) 91 277 Net income from discontinued operations attributable to noncontrolling interests (63 ) (79 ) (165 ) Net (loss) income from discontinued operations attributable to common stockholders $ (256 ) $ 12 $ 112 Net loss attributable to common stockholders $ (4,157 ) $ (12,239 ) $ (1,311 ) Basic and diluted weighted-average shares of common stock outstanding (millions) 1,318 a 1,082 a 1,039 a Basic and diluted net (loss) income per share attributable to common stockholders: Continuing operations $ (2.96 ) $ (11.32 ) $ (1.37 ) Discontinued operations (0.20 ) 0.01 0.11 $ (3.16 ) $ (11.31 ) $ (1.26 ) a. Excludes approximately 12 million shares of common stock in 2016 , 9 million in 2015 and 10 million in 2014 associated with outstanding stock options with exercise prices less than the average market price of FCX's common stock and RSUs that were anti-dilutive. Outstanding stock options with exercise prices greater than the average market price of FCX’s common stock during the year are excluded from the computation of diluted net loss per share of common stock. Stock options for 46 million shares of common stock were excluded in 2016 , 45 million in 2015 and 31 million in 2014 .
New Accounting Standards	New Accounting Standards. In May 2014, the Financial Accounting Standards Board (FASB) issued an Accounting Standard Update (ASU) that provides a single comprehensive revenue recognition model, which will replace most existing revenue recognition guidance, and also requires expanded disclosures. The core principle of the model is that revenue is recognized when control of goods or services has been transferred to customers at an amount that reflects the consideration to which an entity expects to be entitled in exchange for those goods or services. For public entities, this ASU is effective for annual reporting periods beginning after December 15, 2017, and interim reporting periods within that reporting period. Early adoption is permitted for annual reporting periods beginning after December 15, 2016, and interim reporting periods within that reporting period. FCX will adopt this ASU January 1, 2018, and currently expects to apply the modified retrospective approach under which any cumulative effect adjustment would be recorded to retained earnings as of the adoption date. FCX has not yet completed its final review of the impact of this guidance; however, based on the terms of its sales contracts, FCX currently does not anticipate a material impact on its revenue recognition policies or processes. FCX continues to review the impact of the new guidance on its financial reporting and disclosures. In August 2014, FASB issued an ASU that requires management to evaluate whether there are conditions or events that raise substantial doubt about an entity’s ability to continue as a going concern within one year after the date the financial statements are issued and to provide certain disclosures depending on the result of the evaluation. This ASU is effective for annual periods ending after December 15, 2016, and for annual and interim periods thereafter. FCX adopted this ASU for its year ended December 31, 2016. In May 2015, 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 net asset value (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. 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 will adopt this ASU effective January 1, 2017, and adoption will not have a material impact on its financial statements. This ASU requires recognition of excess tax benefits and tax deficiencies in the income statement prospectively beginning in the first quarter of 2017, which could result in fluctuations in FCX's quarterly effective tax rate depending on how many awards vest or are exercised in a quarter, as well as the volatility of FCX's stock price. 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.

SUMMARY OF SIGNIFICANT ACCOUN31

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Schedule of Goodwill	A summary of changes in the carrying amount of goodwill follows: Balance at January 1, 2014 $ 1,916 Purchase accounting adjustments 22 Disposal of Eagle Ford shale assets (see Note 2) (221 ) Impairment charge in 2014 (1,717 ) Balance at December 31, 2014 $ —
Schedule of diluted earnings per share	A reconciliation of net loss and weighted-average shares of common stock outstanding for purposes of calculating basic and diluted net (loss) income per share for the years ended December 31 follows: 2016 2015 2014 Net loss from continuing operations $ (3,832 ) $ (12,180 ) $ (1,022 ) Net income from continuing operations attributable to noncontrolling interests (227 ) (27 ) (358 ) Gain on redemption and preferred dividends attributable to redeemable noncontrolling interest 161 (41 ) (40 ) Accumulated dividends on participating securities (3 ) (3 ) (3 ) Net loss from continuing operations attributable to common stockholders $ (3,901 ) $ (12,251 ) $ (1,423 ) Net (loss) income from discontinued operations (193 ) 91 277 Net income from discontinued operations attributable to noncontrolling interests (63 ) (79 ) (165 ) Net (loss) income from discontinued operations attributable to common stockholders $ (256 ) $ 12 $ 112 Net loss attributable to common stockholders $ (4,157 ) $ (12,239 ) $ (1,311 ) Basic and diluted weighted-average shares of common stock outstanding (millions) 1,318 a 1,082 a 1,039 a Basic and diluted net (loss) income per share attributable to common stockholders: Continuing operations $ (2.96 ) $ (11.32 ) $ (1.37 ) Discontinued operations (0.20 ) 0.01 0.11 $ (3.16 ) $ (11.31 ) $ (1.26 ) a. Excludes approximately 12 million shares of common stock in 2016 , 9 million in 2015 and 10 million in 2014 associated with outstanding stock options with exercise prices less than the average market price of FCX's common stock and RSUs that were anti-dilutive

DISPOSITIONS AND ACQUISITIONS (

DISPOSITIONS AND ACQUISITIONS (Tables)	12 Months Ended
	Dec. 31, 2016
Dispositions And Acquisitions [Abstract]
Schedule of Disposal	The carrying amounts of TFHL's major classes of assets, liabilities and noncontrolling interests, which were held for sale in the consolidated balance sheets at December 31, 2015, follow: Assets Cash and cash equivalents $ 29 Inventories 584 Receivables and other current assets 131 Total current assets held for sale $ 744 a Property, plant, equipment and mine 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 $ 108 Total current liabilities held for sale $ 108 a Deferred income taxes $ 681 Asset retirement obligations and other liabilities 37 Total long-term liabilities held for sale $ 718 a Noncontrolling interests $ 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: Years Ended December 31, 2016 2015 2014 Revenues a $ 959 $ 1,270 $ 1,437 Costs and expenses: Production and delivery costs 833 852 782 Depreciation, depletion and amortization 80 b 257 228 Interest expense allocated from parent c 39 28 24 Other costs and expenses, net 10 26 27 (Loss) income before income taxes and loss on disposal (3 ) 107 376 Loss on disposal (198 ) d — — Net (loss) income before income taxes (201 ) 107 376 Benefit from (provision for) income taxes 8 (16 ) (99 ) Net (loss) income from discontinued operations $ (193 ) $ 91 $ 277 a. In accordance with accounting guidance, amounts are net of eliminations of intercompany sales totaling $157 million in 2016 , $114 million in 2015 and $121 million in 2014 . b. In accordance with accounting guidance, depreciation, depletion and amortization is not recognized subsequent to classification as assets held for sale, which occurred in May 2016. c. In accordance with accounting guidance, interest associated with FCX's unsecured bank term loan that was required to be repaid as a result of the sale of TFHL has been allocated to discontinued operations. d. Includes a charge of $33 million associated with the settlement agreement entered into with Gécamines, partly offset by a gain of $13 million for the fair value of contingent consideration. Cash flows from discontinued operations included in the consolidated statements of cash flows follow: Years Ended December 31, 2016 2015 2014 Net cash provided by operating activities $ 241 $ 217 $ 529 Net cash used in investing activities (73 ) (253 ) (174 ) Net cash used in financing activities (123 ) (82 ) (285 ) Increase (decrease) in cash and cash equivalents in assets held for sale $ 45 $ (118 ) $ 70 The following table provides balances of the major classes of assets and liabilities for the Candelaria and Ojos del Salado mines at November 3, 2014: Current assets $ 482 Long-term assets 1,155 Current liabilities 129 Long-term liabilities 89 Noncontrolling interests 243

INVENTORIES, INCLUDING LONG-T33

INVENTORIES, INCLUDING LONG-TERM MILL AND LEACH STOCKPILES (Tables)	12 Months Ended
	Dec. 31, 2016
Inventory Disclosure [Abstract]
Schedule of Inventory, Noncurrent	The components of inventories follow: December 31, 2016 2015 Current inventories: Total materials and supplies, net a $ 1,306 $ 1,575 Mill stockpiles $ 259 $ 137 Leach stockpiles 1,079 1,402 Total current mill and leach stockpiles $ 1,338 $ 1,539 Raw materials (primarily concentrate) $ 255 $ 220 Work-in-process 114 108 Finished goods 629 633 Total product inventories $ 998 $ 961 Long-term inventories: Mill stockpiles $ 487 $ 480 Leach stockpiles 1,146 1,183 Total long-term inventories b $ 1,633 $ 1,663 a. Materials and supplies inventory was net of obsolescence reserves totaling $29 million at December 31, 2016 , and $26 million at December 31, 2015 . b. Estimated metals in stockpiles not expected to be recovered within the next 12 months.
Components of Inventories	The components of inventories follow: December 31, 2016 2015 Current inventories: Total materials and supplies, net a $ 1,306 $ 1,575 Mill stockpiles $ 259 $ 137 Leach stockpiles 1,079 1,402 Total current mill and leach stockpiles $ 1,338 $ 1,539 Raw materials (primarily concentrate) $ 255 $ 220 Work-in-process 114 108 Finished goods 629 633 Total product inventories $ 998 $ 961 Long-term inventories: Mill stockpiles $ 487 $ 480 Leach stockpiles 1,146 1,183 Total long-term inventories b $ 1,633 $ 1,663 a. Materials and supplies inventory was net of obsolescence reserves totaling $29 million at December 31, 2016 , and $26 million at December 31, 2015 . b. Estimated metals in stockpiles not expected to be recovered within the next 12 months.

PROPERTY, PLANT, EQUIPMENT AN34

PROPERTY, PLANT, EQUIPMENT AND MINING DEVELOPMENT COSTS, NET (Tables)	12 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment, Net [Abstract]
Property, Plant, Equipment and Mining Development Costs, Net	The components of net property, plant, equipment and mine development costs follow: December 31, 2016 2015 Proven and probable mineral reserves $ 3,863 $ 3,880 VBPP 559 559 Mine development and other 5,755 4,878 Buildings and infrastructure 7,479 6,964 Machinery and equipment 11,744 11,558 Mobile equipment 3,725 3,843 Construction in progress 2,831 3,716 Property, plant, equipment and mine development costs 35,956 35,398 Accumulated depreciation, depletion and amortization (12,737 ) (11,412 ) Property, plant, equipment and mine development costs, net $ 23,219 $ 23,986

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	12 Months Ended
	Dec. 31, 2016
Other Assets [Abstract]
Schedule of Other Assets	The components of other assets follow: December 31, 2016 2015 Disputed tax assessments: a PT-FI $ 331 $ 209 Cerro Verde 277 245 Intangible assets b 305 316 Investments: Assurance bond c 120 118 PT Smelting d 83 112 Available-for-sale securities 50 47 Other 50 50 Contingent consideration associated with sales of assets e 196 — Legally restricted funds f 182 171 Long-term receivable for taxes g 129 261 Rio Tinto's share of ARO 71 49 Long-lead equipment 17 187 Deferred drillship costs — 81 Other 145 141 Total other assets $ 1,956 $ 1,987 a. Refer to Note 12 for further discussion. b. Intangible assets were net of accumulated amortization totaling $37 million at December 31, 2016 , and $61 million at December 31, 2015 . c. Relates to PT-FI's commitment for smelter development in Indonesia (refer to Note 13 for further discussion). d. FCX's 25 percent ownership in PT Smelting (smelter and refinery in Gresik, Indonesia) is recorded using the equity method. Amounts were reduced by unrecognized profits on sales from PT-FI to PT Smelting totaling $39 million at December 31, 2016 , and $14 million at December 31, 2015 . Trade accounts receivable from PT Smelting totaled $283 million at December 31, 2016 , and $160 million at December 31, 2015 . e. Refer to Note 2 for further discussion. f. Includes $173 million at December 31, 2016 , and $169 million at December 31, 2015 , held in trusts for AROs related to properties in New Mexico (refer to Note 12 for further discussion). g. Includes tax overpayments and refunds not expected to be realized within the next 12 months (primarily at PT-FI and Cerro Verde).

ACCOUNTS PAYABLE AND ACCRUED 36

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2016
Accounts Payable and Accrued Liabilities, Current [Abstract]
Additional information regarding accounts payable and accrued liabilities	accounts payable and accrued liabilities follow: December 31, 2016 2015 Accounts payable $ 1,540 $ 2,251 Salaries, wages and other compensation 225 212 Accrued interest a 129 165 Accrued taxes, other than income taxes 90 201 Deferred revenue 82 41 Pension, postretirement, postemployment and other employee benefits b 76 125 Accrued mining royalties 46 33 Oil and gas royalty and revenue payable 37 53 Other 168 151 Total accounts payable and accrued liabilities $ 2,393 $ 3,232 a. Third-party interest paid, net of capitalized interest, was $743 million in 2016 , $570 million in 2015 and $637 million (including $3 million for discontinued operations) in 2014 . b. Refer to Note 9 for long-term portion.

DEBT (Tables)

DEBT (Tables)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2014
Debt Instrument, Redemption [Line Items]
Debt Instrument Redemption [Table Text Block]	The senior notes listed below are redeemable in whole or in part, at the option of FCX, at a make-whole redemption price prior to the dates stated below, and beginning on the dates stated below at 100 percent of principal. Debt Instrument Date 3.55% Senior Notes due 2022 December 1, 2021 3.875% Senior Notes due 2023 December 15, 2022 4.55% Senior Notes due 2024 August 14, 2024 5.40% Senior Notes due 2034 May 14, 2034 5.450% Senior Notes due 2043 September 15, 2042
Schedule of Debt [Table Text Block]	The components of debt follow: December 31, 2016 2015 Bank term loan $ — $ 3,032 Revolving credit facility — — Lines of credit — 442 Cerro Verde credit facility 1,390 1,781 Cerro Verde shareholder loans 261 259 Senior notes and debentures: Issued by FCX: 2.15% Senior Notes due 2017 500 499 2.30% Senior Notes due 2017 728 747 2.375% Senior Notes due 2018 1,480 1,495 6.125% Senior Notes due 2019 186 — 3.100% Senior Notes due 2020 996 995 6½% Senior Notes due 2020 583 — 6.625% Senior Notes due 2021 242 — 4.00% Senior Notes due 2021 595 594 6.75% Senior Notes due 2022 432 — 3.55% Senior Notes due 2022 1,882 1,987 6 7 / 8 % Senior Notes due 2023 784 — 3.875% Senior Notes due 2023 1,912 1,987 4.55% Senior Notes due 2024 844 843 5.40% Senior Notes due 2034 739 788 5.450% Senior Notes due 2043 1,842 1,973 Issued by Freeport-McMoRan Oil & Gas LLC (FM O&G LLC): 6.125% Senior Notes due 2019 60 251 6½% Senior Notes due 2020 69 662 6.625% Senior Notes due 2021 35 281 6.75% Senior Notes due 2022 48 488 6 7 / 8 % Senior Notes due 2023 55 857 Issued by FMC: 7 1 / 8 % Debentures due 2027 115 115 9½% Senior Notes due 2031 128 128 6 1 / 8 % Senior Notes due 2034 116 116 Other 5 4 Total debt 16,027 20,324 Less current portion of debt (1,232 ) (649 ) Long-term debt $ 14,795 $ 19,675
Schedule of Long-term Debt Instruments [Table Text Block]	A summary of the tenders follows: Principal Amount Outstanding Principal Amount Tendered Book Value of New FCX Senior Notes 6.125% Senior Notes due 2019 $ 237 $ 179 $ 186 6½% Senior Notes due 2020 617 552 583 6.625% Senior Notes due 2021 261 228 242 6.75% Senior Notes due 2022 449 404 432 6 7 / 8 % Senior Notes due 2023 778 728 785 $ 2,342 $ 2,091 $ 2,228
Schedule of extinguishment of debt	A summary of these debt extinguishments follows: Principal Amount Discounts/Deferred Debt Issuance Costs Book Value Redemption Value Gain 2.30% Senior Notes due 2017 $ 20 $ — $ 20 $ 20 $ — 2.375% Senior Notes due 2018 18 — 18 18 — 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 $ 407 $ 4 $ 403 $ 349 $ 54	A summary of debt extinguishments during 2014 resulting from redemptions and tender offers follows: Principal Amount Purchase Accounting Fair- Value Adjustments Book Value Redemption Value Gain (Loss) 1.40% Senior Notes due 2015 $ 500 $ — $ 500 $ 501 $ (1 ) 6.125% Senior Notes due 2019 513 40 553 555 (2 ) 8.625% Senior Notes due 2019 400 41 441 417 24 7.625% Senior Notes due 2020 300 32 332 318 14 6½% Senior Notes due 2020 883 79 962 952 10 6.625% Senior Notes due 2021 339 31 370 367 3 6.75% Senior Notes due 2022 551 57 608 600 8 6 7 / 8 % Senior Notes due 2023 722 84 806 785 21 $ 4,208 $ 364 $ 4,572 $ 4,495 $ 77

OTHER LIABILITIES, INCLUDING 38

OTHER LIABILITIES, INCLUDING EMPLOYEE BENEFITS (Tables)	12 Months Ended
	Dec. 31, 2016
Other Liabilities, Including Employee Benefits [Abstract]
Components of Other Liabilities	The components of other liabilities follow: December 31, 2016 2015 Pension, postretirement, postemployment and other employment benefits a $ 1,345 $ 1,260 Provision for tax positions 167 152 Legal matters 77 77 Insurance claim reserves 51 59 Accrued oil and gas contract commitments 43 — Other 62 93 Total other liabilities $ 1,745 $ 1,641 a. Refer to Note 7 for current portion.
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets	FCX uses a measurement date of December 31 for its plans. Information for those plans where the accumulated benefit obligations exceed the fair value of plan assets follows: December 31, 2016 2015 Projected benefit obligation $ 2,127 $ 2,139 Accumulated benefit obligation 2,014 2,037 Fair value of plan assets 1,312 1,399
Schedule of Changes Benefit Obligation, Fair Value of Plan Assets, and Funded Status of Plan	Information on the FCX (including FMC’s plans) and PT-FI plans as of December 31 follows: FCX PT-FI 2016 2015 2016 2015 Change in benefit obligation: Benefit obligation at beginning of year $ 2,104 $ 2,179 $ 318 $ 318 Service cost 27 36 27 26 Interest cost 93 87 29 23 Actuarial losses (gains) 92 (118 ) 2 (7 ) Foreign exchange (gains) losses (4 ) (2 ) 8 (32 ) Special retirement benefits a — 22 — — Benefits paid (177 ) (100 ) (10 ) (10 ) Benefit obligation at end of year 2,135 2,104 374 318 Change in plan assets: Fair value of plan assets at beginning of year 1,379 1,416 204 185 Actual return on plan assets 88 (26 ) 47 6 Employer contributions b 42 90 38 42 Foreign exchange (losses) gains (3 ) (1 ) 5 (19 ) Benefits paid (177 ) (100 ) (10 ) (10 ) Fair value of plan assets at end of year 1,329 1,379 284 204 Funded status $ (806 ) $ (725 ) $ (90 ) $ (114 ) Accumulated benefit obligation $ 2,022 $ 2,001 $ 225 $ 175 Weighted-average assumptions used to determine benefit obligations: Discount rate 4.40 % 4.60 % 8.25 % 9.00 % Rate of compensation increase 3.25 % 3.25 % 8.00 % 9.40 % Balance sheet classification of funded status: Other assets $ 9 $ 8 $ — $ — Accounts payable and accrued liabilities (4 ) (35 ) — — Other liabilities (811 ) (698 ) (90 ) (114 ) Total $ (806 ) $ (725 ) $ (90 ) $ (114 ) a. Resulted from the 2015 revised mine operating plans and reductions in the workforce (refer to Note 5 for further discussion). b. Employer contributions for 2017 are expected to approximate $140 million for the FCX plans and $32 million for the PT-FI plan (based on a December 31, 2016 , exchange rate of 13,369 Indonesian rupiah to one U.S. dollar).
Schedule of Assumptions Used	The weighted-average assumptions used to determine net periodic benefit cost and the components of net periodic benefit cost for FCX’s pension plans for the years ended December 31 follow: 2016 2015 2014 Weighted-average assumptions: a Discount rate 4.60 % 4.10 % 5.00 % Expected return on plan assets 7.25 % 7.25 % 7.50 % Rate of compensation increase 3.25 % 3.25 % 3.75 % Service cost $ 27 $ 36 $ 30 Interest cost 93 87 92 Expected return on plan assets (96 ) (102 ) (98 ) Amortization of prior service credit — — (1 ) Amortization of net actuarial losses 42 45 28 Special retirement benefits — 22 — Net periodic benefit cost $ 66 $ 88 $ 51 a. The assumptions shown relate only to the FMC plans. The weighted-average assumptions used to determine net periodic benefit cost and the components of net periodic benefit cost for PT-FI’s pension plan for the years ended December 31 follow: 2016 2015 2014 Weighted-average assumptions: Discount rate 9.00 % 8.25 % 9.00 % Expected return on plan assets 7.75 % 7.75 % 7.75 % Rate of compensation increase 9.40 % 9.00 % 9.00 % Service cost $ 27 $ 26 $ 22 Interest cost 29 23 23 Expected return on plan assets (17 ) (14 ) (10 ) Amortization of prior service cost 3 3 3 Amortization of net actuarial loss 5 6 8 Net periodic benefit cost $ 47 $ 44 $ 46
Schedule of Net Periodic Benefit Cost Not yet Recognized	Included in accumulated other comprehensive loss are the following amounts that have not been recognized in net periodic pension cost as of December 31: 2016 2015 Before Taxes After Taxes and Noncontrolling Interests Before Taxes After Taxes and Noncontrolling Interests Net actuarial loss $ 722 $ 466 $ 697 $ 426 Prior service costs 21 11 23 12 $ 743 $ 477 $ 720 $ 438
Schedule of Allocation of Plan Assets	A summary of the fair value for pension plan assets associated with the FCX plans follows: Fair Value at December 31, 2016 Total NAV Level 1 Level 2 Level 3 Commingled/collective funds: Global equity $ 420 $ 420 $ — $ — $ — Fixed income securities 129 129 — — — Global fixed income securities 107 107 — — — Real estate property 72 72 — — — Emerging markets equity 66 66 — — — U.S. small-cap equity 60 60 — — — International small-cap equity 51 51 — — — U.S. real estate securities 42 42 — — — Short-term investments 17 17 — — — Fixed income: Government bonds 160 — — 160 — Corporate bonds 141 — — 141 — Private equity investments 25 25 — — — Other investments 36 — 1 35 — Total investments 1,326 $ 989 $ 1 $ 336 $ — Cash and receivables 4 Payables (1 ) Total pension plan net assets $ 1,329 Fair Value at December 31, 2015 Total NAV Level 1 Level 2 Level 3 Commingled/collective funds: Global equity $ 399 $ 399 $ — $ — $ — Fixed income securities 129 129 — — — Global fixed income securities 101 101 — — — Real estate property 66 66 — — — Emerging markets equity 60 60 — — — U.S. small-cap equity 56 56 — — — International small-cap equity 56 56 — — — U.S. real estate securities 55 55 — — — Short-term investments 25 25 — — — Fixed income: Government bonds 215 — — 215 — Corporate bonds 145 — — 145 — Private equity investments 31 31 — — — Other investments 39 — 1 38 — Total investments 1,377 $ 978 $ 1 $ 398 $ — Cash and receivables 6 Payables (4 ) Total pension plan net assets $ 1,379 A summary of the fair value hierarchy for pension plan assets associated with the PT-FI plan follows: Fair Value at December 31, 2016 Total Level 1 Level 2 Level 3 Government bonds $ 78 $ 78 $ — $ — Common stocks 72 72 — — Mutual funds 16 16 — — Total investments 166 $ 166 $ — $ — Cash and receivables a 119 Payables (1 ) Total pension plan net assets $ 284 Fair Value at December 31, 2015 Total Level 1 Level 2 Level 3 Common stocks $ 43 $ 43 $ — $ — Government bonds 41 41 — — Mutual funds 12 12 — — Total investments 96 $ 96 $ — $ — Cash and receivables a 108 Total pension plan net assets $ 204 a. Cash consists primarily of short-term time deposits.
Schedule of Expected Benefit Payments	The expected benefit payments for FCX’s and PT-FI’s pension plans follow: FCX PT-FI a 2017 $ 109 $ 29 2018 146 16 2019 113 30 2020 115 38 2021 117 40 2022 through 2026 623 292 a. Based on a December 31, 2016 , exchange rate of 13,369 Indonesian rupiah to one U.S. dollar.

STOCKHOLDERS' EQUITY AND STOC39

STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2016
Stockholders' Equity Note [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	A summary of changes in the balances of each component of accumulated other comprehensive loss, net of tax, follows: Defined Benefit Plans Unrealized Losses on Securities Translation Adjustment Total Balance at January 1, 2014 $ (410 ) $ (5 ) $ 10 $ (405 ) Amounts arising during the period a,b (162 ) (1 ) — (163 ) Amounts reclassified c 24 — — 24 Balance at December 31, 2014 (548 ) (6 ) 10 (544 ) Amounts arising during the period a,b 3 — — 3 Amounts reclassified c 38 — — 38 Balance at December 31, 2015 (507 ) (6 ) 10 (503 ) Amounts arising during the period a,b (91 ) 2 — (89 ) Amounts reclassified c 44 — — 44 Balance at December 31, 2016 $ (554 ) $ (4 ) $ 10 $ (548 ) a. Includes net actuarial losses, net of noncontrolling interest, totaling $252 million for 2014 , $7 million for 2015 and $79 million for 2016 . b. Includes tax benefits (provision) totaling $89 million for 2014 , $2 million for 2015 and $(11) million for 2016 . c. Includes amortization primarily related to actuarial losses, net of taxes, of $14 million for 2014 , $16 million for 2015 and $4 million for 2016 .
Compensation costs charged against earnings	Compensation cost charged against earnings for stock-based awards for the years ended December 31 follows: 2016 2015 2014 Selling, general and administrative expenses $ 69 $ 67 $ 79 Production and delivery 16 17 26 Capitalized costs 4 11 23 Total stock-based compensation 89 95 128 Less capitalized costs (4 ) (11 ) (23 ) Tax benefit and noncontrolling interests' share (3 ) a (31 ) (41 ) Impact on net loss from continuing operations $ 82 $ 53 $ 64 a. Charges in the U.S. are not currently expected to generate a future tax benefit.
Summary of stock options and SARs outstanding and changes during the period	A summary of options and SARs outstanding as of December 31, 2016 , including 1,034,153 SARs, and activity during the year ended December 31, 2016 , follows: Number of Options and SARs Weighted- Average Exercise Price Per Share Weighted- Average Remaining Contractual Term (years) Aggregate Intrinsic Value Balance at January 1 49,303,879 $ 34.10 Granted 7,167,000 4.35 Exercised (14,750 ) 12.12 Expired/Forfeited (2,661,894 ) 31.80 Balance at December 31 53,794,235 30.25 4.6 $ 66 Vested and exercisable at December 31 44,314,195 34.20 3.8 $ 14
Weighted average assumptions used to value stock option awards	Information related to stock options during the years ended December 31 follows: 2016 2015 2014 Weighted-average assumptions used to value stock option awards: Expected volatility 71.6 % 37.9 % 36.6 % Expected life of options (in years) 5.34 5.17 4.92 Expected dividend rate — 4.5 % 3.5 % Risk-free interest rate 1.3 % 1.7 % 1.7 % Weighted-average grant-date fair value (per share) $ 2.64 $ 4.30 $ 7.43 Intrinsic value of options exercised $ — a $ 1 $ 17 Fair value of options vested $ 43 $ 50 $ 76 a. Rounds to less than $1 million.
Summary Of Outstanding Stock-settled RSUs and PSUs	A summary of outstanding stock-settled RSUs and PSUs as of December 31, 2016 , and activity during the year ended December 31, 2016 , follows: Number of Awards Weighted-Average Grant-Date Fair Value Per Award Aggregate Intrinsic Value Balance at January 1 7,220,300 $ 27.12 Granted 3,557,366 a 10.46 Vested (3,042,860 ) 28.81 Forfeited (516,579 ) 25.91 Balance at December 31 7,218,227 18.08 $ 95 a. Excludes 993 thousand PSUs granted in 2016 for which the performance metrics have not yet been established.
Summary of Outstanding Cash-Settled RSUs and PSUs	A summary of outstanding cash-settled RSUs and PSUs as of December 31, 2016 , and activity during the year ended December 31, 2016 , follows: Number of Awards Weighted-Average Grant-Date Fair Value Per Award Aggregate Intrinsic Value Balance at January 1 4,612,536 $ 24.89 Granted 676,000 6.05 Vested (2,148,558 ) 25.83 Forfeited (608,234 ) 23.92 Balance at December 31 2,531,744 19.30 $ 33
Schedule of amounts related to exercises of stock options and stock appreciation rights and the vesting of restricted stock units and restricted stock awards	The following table includes amounts related to exercises of stock options and vesting of RSUs during the years ended December 31 : 2016 2015 2014 FCX shares tendered to pay the exercise price and/or the minimum required taxes a 906,120 349,122 474,480 Cash received from stock option exercises $ — b $ 3 $ 12 Actual tax benefit realized for tax deductions $ — b $ 11 $ 16 Amounts FCX paid for employee taxes $ 6 $ 7 $ 8 a. Under terms of the related plans, upon exercise of stock options and vesting of RSUs, employees may tender FCX shares to pay the exercise price and/or the minimum required taxes. b. Rounds to less than $1 million.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income before income taxes and equity in affiliated companies' net earnings	Geographic sources of losses before income taxes and equity in affiliated companies’ net earnings (losses) for the years ended December 31 consist of the following: 2016 2015 2014 U.S. $ (5,179 ) $ (14,589 ) $ (2,973 ) Foreign 1,707 461 2,173 Total $ (3,472 ) $ (14,128 ) $ (800 )
Schedule of Benefit from (Provision for) income taxes	FCX’s (provision for) benefit from income taxes for the years ended December 31 consists of the following: 2016 2015 2014 Current income taxes: Federal $ 164 $ 89 $ (269 ) State 17 2 (34 ) Foreign (352 ) (160 ) (1,066 ) Total current (171 ) (69 ) (1,369 ) Deferred income taxes: Federal 137 3,403 616 State 41 154 214 Foreign (451 ) (163 ) (19 ) Total deferred (273 ) 3,394 811 Adjustments 13 a (1,374 ) b — Operating loss carryforwards 60 c — 333 c (Provision for) benefit from income taxes $ (371 ) $ 1,951 $ (225 ) a. Benefit related to changes in Peruvian tax rules. b. Adjustments include net provisions of $1.2 billion associated with an increase in the beginning of the year valuation allowance related to the impairment of U.S. oil and gas properties and $0.2 billion resulting from the termination of PT-FI's Delaware domestication. c. Benefit from the use of operating loss carryforwards.
Reconciliation of the U.S. federal statutory tax rate to effective income tax rate	A reconciliation of the U.S. federal statutory tax rate to FCX’s effective income tax rate for the years ended December 31 follows: 2016 2015 2014 Amount Percent Amount Percent Amount Percent U.S. federal statutory tax rate $ 1,215 (35 )% $ 4,945 (35 )% $ 280 (35 )% Valuation allowance, net (1,680 ) a 48 (2,955 ) a 21 — — Foreign tax credit limitation (598 ) 17 (228 ) 2 (136 ) 17 Impairment of oil and gas properties 520 b (15 ) 0 — 0 — Percentage depletion 211 (6 ) 186 (1 ) 263 c (33 ) Withholding and other impacts on foreign earnings (93 ) 3 (193 ) 1 (161 ) 20 Effect of foreign rates different than the U.S. federal statutory rate 45 (1 ) 12 — 69 (9 ) Goodwill impairment — — — — (601 ) 75 Goodwill transferred to full cost pool — — — — (77 ) 10 State income taxes 46 a (1 ) 105 a (1 ) 116 (14 ) Other items, net (37 ) 1 79 (1 ) 22 (3 ) (Provision for) benefit from income taxes $ (371 ) d 11 % $ 1,951 (14 )% $ (225 ) e,f 28 % a. Includes tax charges totaling $1.6 billion in 2016 and $3.3 billion in 2015 as a result of the impairment to U.S. oil and gas properties to establish valuation allowances against U.S. federal and state deferred tax assets that will not generate a future benefit. b. Reflects a loss under U.S. federal income tax law related to the impairment of investments in oil and gas properties. c. Includes a net tax charge of $16 million in 2014 related to a change in U.S. federal income tax law. d. Includes a net tax benefit related to changes in Peruvian tax rules of $13 million . e. Includes a net tax charge of $221 million related to the sale of the Candelaria and Ojos del Salado mines. f. Includes tax charges related to changes in Chilean and Peruvian tax rules of $54 million and $24 million , respectively.
Components of deferred tax assets and liabilities	The components of deferred taxes follow: December 31, 2016 2015 Deferred tax assets: Foreign tax credits $ 2,094 $ 1,552 Accrued expenses 923 1,167 Oil and gas properties 346 1,422 Minimum tax credits 444 569 Net operating loss carryforwards 2,898 621 Employee benefit plans 403 442 Other 485 478 Deferred tax assets 7,593 6,251 Valuation allowances (6,058 ) (4,183 ) Net deferred tax assets 1,535 2,068 Deferred tax liabilities: Property, plant, equipment and mine development costs (4,326 ) (4,765 ) Undistributed earnings (779 ) (852 ) Other (195 ) (55 ) Total deferred tax liabilities (5,300 ) (5,672 ) Net deferred tax liabilities $ (3,765 ) $ (3,604 )
Reserve for unrecognized tax benefits, interest and penalties	A summary of the activities associated with FCX’s reserve for unrecognized tax benefits for the years ended December 31 follows: 2016 2015 2014 Balance at beginning of year $ 110 $ 104 $ 110 Additions: Prior year tax positions 5 7 4 Current year tax positions 28 11 11 Decreases: Prior year tax positions (3 ) (6 ) (12 ) Settlements with taxing authorities — — (9 ) Lapse of statute of limitations (39 ) (6 ) — Balance at end of year $ 101 $ 110 $ 104
Summary of income tax examinations	The tax years for FCX's major tax jurisdictions that remain subject to examination are as follows: Jurisdiction Years Subject to Examination Additional Open Years U.S. Federal 2013 2014-2016 Indonesia 2008, 2011, 2012, 2014, 2015 2013, 2016 Peru 2011 2012-2016 Chile 2013-2015 2016 A summary of these assessments follows: Tax Year Tax Assessment Penalty and Interest Assessment Total 2002 to 2005 $ 16 $ 51 $ 67 2006 7 49 56 2007 12 18 30 2008 21 13 34 2009 56 48 104 2010 66 98 164 2011, 2014 to 2016 22 3 25 $ 200 $ 280 $ 480 PT-FI has received assessments from the Indonesian tax authorities for additional taxes and interest related to various audit exceptions for income and other taxes. PT-FI has filed objections to the assessments because it believes it has properly determined and paid its taxes. A summary of these assessments follows: Tax Year Tax Assessment Interest Assessment Total 2005 $ 103 $ 49 $ 152 2006 22 10 32 2007 91 44 135 2008 62 52 114 2011 78 13 91 2012 123 — 123 2014 152 — 152 $ 631 $ 168 $ 799

CONTINGENCIES (Tables)

CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Schedule of Environmental Obligations	A summary of changes in estimated environmental obligations for the years ended December 31 follows: 2016 2015 2014 Balance at beginning of year $ 1,215 $ 1,174 $ 1,167 Accretion expense a 81 78 77 Additions 26 33 16 Reductions b (43 ) (3 ) (6 ) Spending (58 ) (67 ) (80 ) Balance at end of year 1,221 1,215 1,174 Less current portion (129 ) (100 ) (105 ) Long-term portion $ 1,092 $ 1,115 $ 1,069 a. Represents accretion of the fair value of environmental obligations assumed in the 2007 acquisition of FMC, which were determined on a discounted cash flow basis. b. Reductions primarily reflect revisions for changes in the anticipated scope and timing of projects and other noncash adjustments.
Summary of income tax examinations	The tax years for FCX's major tax jurisdictions that remain subject to examination are as follows: Jurisdiction Years Subject to Examination Additional Open Years U.S. Federal 2013 2014-2016 Indonesia 2008, 2011, 2012, 2014, 2015 2013, 2016 Peru 2011 2012-2016 Chile 2013-2015 2016 A summary of these assessments follows: Tax Year Tax Assessment Penalty and Interest Assessment Total 2002 to 2005 $ 16 $ 51 $ 67 2006 7 49 56 2007 12 18 30 2008 21 13 34 2009 56 48 104 2010 66 98 164 2011, 2014 to 2016 22 3 25 $ 200 $ 280 $ 480 PT-FI has received assessments from the Indonesian tax authorities for additional taxes and interest related to various audit exceptions for income and other taxes. PT-FI has filed objections to the assessments because it believes it has properly determined and paid its taxes. A summary of these assessments follows: Tax Year Tax Assessment Interest Assessment Total 2005 $ 103 $ 49 $ 152 2006 22 10 32 2007 91 44 135 2008 62 52 114 2011 78 13 91 2012 123 — 123 2014 152 — 152 $ 631 $ 168 $ 799
Schedule of Asset Retirement Obligations	A summary of changes in FCX’s AROs for the years ended December 31 follows: 2016 2015 2014 Balance at beginning of year $ 2,771 $ 2,744 $ 2,316 Liabilities incurred 12 97 429 a Settlements and revisions to cash flow estimates, net 529 b (66 ) 56 Accretion expense 137 131 116 Dispositions (626 ) c — (61 ) Spending (188 ) (132 ) (101 ) Other — (3 ) (11 ) Balance at end of year 2,635 2,771 2,744 Less current portion (240 ) (172 ) (189 ) Long-term portion $ 2,395 $ 2,599 $ 2,555 a. Primarily reflects updates to the closure approach to reclaim an overburden stockpile in Indonesia. b.

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [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 for the years ended December 31 follows: 2016 2015 2014 Copper futures and swap contracts: Unrealized gains (losses): Derivative financial instruments $ 16 $ (3 ) $ (12 ) Hedged item – firm sales commitments (16 ) 3 12 Realized gains (losses): Matured derivative financial instruments 1 (34 ) (9 )
Schedule of Derivative Instruments	A summary of FCX’s embedded derivatives at December 31, 2016 , follows: Open Average Price Per Unit Maturities Positions Contract Market Through Embedded derivatives in provisional sales contracts: Copper (millions of pounds) 698 $ 2.36 $ 2.51 June 2017 Gold (thousands of ounces) 207 1,195 1,161 March 2017 Embedded derivatives in provisional purchase contracts: Copper (millions of pounds) 140 2.37 2.51 April 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 operating loss for commodity contracts that do not qualify as hedge transactions, including embedded derivatives, for the years ended December 31 follows: 2016 2015 2014 Embedded derivatives in provisional copper and gold sales contracts a $ 266 $ (406 ) $ (280 ) Crude oil options and swaps a (35 ) 87 513 Natural gas swaps a — — — (8 ) Copper forward contracts b 5 (15 ) (4 ) a. Amounts recorded in revenues. b. Amounts recorded in cost of sales as production and delivery costs.
Fair Values of Unsettled Derivative Financial Instruments	A summary of the fair values of unsettled commodity derivative financial instruments follows: December 31, 2016 2015 Commodity Derivative Assets: Derivatives designated as hedging instruments: Copper futures and swap contracts $ 9 $ 1 Derivatives not designated as hedging instruments: Embedded derivatives in provisional copper and gold sales/purchase contracts 137 19 Total derivative assets $ 146 $ 20 Commodity Derivative Liabilities: Derivatives designated as hedging instruments: Copper futures and swap contracts $ 2 $ 11 Derivatives not designated as hedging instruments: Embedded derivatives in provisional copper and gold sales/purchase contracts 56 81 Total derivative liabilities $ 58 $ 92
Offsetting Liabilities [Table Text Block]	A summary of these unsettled commodity contracts that are offset in the balance sheet follows: Assets at December 31, Liabilities at December 31, 2016 2015 2016 2015 Gross amounts recognized: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts $ 137 $ 19 $ 56 $ 81 Copper derivatives 9 1 2 11 146 20 58 92 Less gross amounts of offset: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts 12 5 12 5 Copper derivatives 2 1 2 1 14 6 14 6 Net amounts presented in balance sheet: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts 125 14 44 76 Copper derivatives 7 — — 10 $ 132 $ 14 $ 44 $ 86 Balance sheet classification: Trade accounts receivable $ 119 $ 9 $ 13 $ 51 Other current assets 7 — — — Accounts payable and accrued liabilities 6 5 31 35 $ 132 $ 14 $ 44 $ 86
Offsetting Assets [Table Text Block]	A summary of these unsettled commodity contracts that are offset in the balance sheet follows: Assets at December 31, Liabilities at December 31, 2016 2015 2016 2015 Gross amounts recognized: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts $ 137 $ 19 $ 56 $ 81 Copper derivatives 9 1 2 11 146 20 58 92 Less gross amounts of offset: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts 12 5 12 5 Copper derivatives 2 1 2 1 14 6 14 6 Net amounts presented in balance sheet: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts 125 14 44 76 Copper derivatives 7 — — 10 $ 132 $ 14 $ 44 $ 86 Balance sheet classification: Trade accounts receivable $ 119 $ 9 $ 13 $ 51 Other current assets 7 — — — Accounts payable and accrued liabilities 6 5 31 35 $ 132 $ 14 $ 44 $ 86

FAIR VALUE MEASUREMENT (Tables)

FAIR VALUE MEASUREMENT (Tables)	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurement Inputs Disclosure	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 follows. FCX's financial instruments are recorded on the consolidated balance sheets at fair value except for contingent consideration associated with the sale of the Deepwater GOM oil and gas properties (which was recorded under the loss recovery approach) and debt. At December 31, 2016 Carrying Fair Value Amount Total NAV Level 1 Level 2 Level 3 Assets Investment securities: a,b U.S. core fixed income fund $ 23 $ 23 $ 23 $ — $ — $ — Money market funds 22 22 — 22 — — Equity securities 5 5 — 5 — — Total 50 50 23 27 — — Legally restricted funds: a U.S. core fixed income fund 53 53 53 — — — Government bonds and notes 36 36 — — 36 — Corporate bonds 32 32 — — 32 — Government mortgage-backed securities 25 25 — — 25 — Asset-backed securities 16 16 — — 16 — Money market funds 12 12 — 12 — — Collateralized mortgage-backed securities 8 8 — — 8 — Municipal bonds 1 1 — — 1 — Total 183 183 53 12 118 — Derivatives: Embedded derivatives in provisional sales/purchase contracts in a gross asset position c 137 137 — — 137 — Copper futures and swap contracts c 9 9 — 8 1 — Contingent consideration for the sales of TFHL and onshore California oil and gas properties a 46 46 — — 46 — Total 192 192 — 8 184 — Contingent consideration for the sale of the Deepwater GOM oil and gas properties a 150 135 — — — 135 Total assets $ 560 $ 76 $ 47 $ 302 $ 135 Liabilities Derivatives: c Embedded derivatives in provisional sales/purchase contracts in a gross liability position $ 56 $ 56 — $ — $ 56 $ — Copper futures and swap contracts 2 2 — 2 — — Total 58 58 — 2 56 — Contingent payments for the settlements of drilling rig contracts d 23 23 — — 23 — Long-term debt, including current portion e 16,027 15,196 — — 15,196 — Total liabilities $ 15,277 $ — $ 2 $ 15,275 $ — 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 $ 23 $ 23 $ 23 $ — $ — $ — Money market funds 21 21 — 21 — — Equity securities 3 3 — 3 — — Total 47 47 23 24 — — Legally restricted funds: a U.S. core fixed income fund 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: c 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: c 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 e 20,428 13,987 — — 13,987 — Total liabilities $ 14,079 $ — $ 7 $ 14,072 $ — a. Current portion included in other current assets and long-term portion included in other assets. b. Excludes time deposits (which approximated fair value) included in (i) other current assets of $28 million at December 31, 2016 and 2015 , and (ii) other assets of $122 million at December 31, 2016 , and $118 million at December 31, 2015 , primarily associated with an assurance bond to support PT-FI's commitment for smelter development in Indonesia (refer to Note 13 for further discussion). c. Refer to Note 14 for further discussion and balance sheet classifications. d. Included in accounts payable and accrued liabilities. e. Recorded at cost except for debt assumed in acquisitions, which are recorded at fair value at the respective acquisition dates.
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	A summary of the changes in the fair value of FCX ' s Level 3 instruments for the years ended December 31 follows: Contingent Consideration Crude Oil Options 2016 2015 2014 Balance at beginning of year $ — $ 316 $ (309 ) Net realized gains (losses) — 86 a (42 ) a Net unrealized gains related to assets and liabilities still held at the end of the year 135 b — 430 c Net settlements — (402 ) d 237 d Balance at the end of the year $ 135 $ — $ 316 a. Includes net realized gains (losses) of $87 million recorded in revenues in 2015 and $(41) million in 2014 , and $1 million of interest expense associated with deferred premiums in both 2015 and 2014 . b. Reflects contingent consideration associated with the sale of the Deepwater GOM oil and gas properties in December 2016 (see Note 2 for further discussion). c. Includes unrealized gains recorded in revenues of $432 million and $2 million of interest expense associated with deferred premiums. d. Includes interest payments of $4 million in 2015 and $5 million in 2014 .

BUSINESS SEGMENTS INFORMATION (

BUSINESS SEGMENTS INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Revenues by product	FCX revenues attributable to the products it produced for the years ended December 31 follow: 2016 2015 2014 Refined copper products $ 5,888 $ 6,699 $ 8,187 Copper in concentrate a 4,502 2,869 3,366 Gold 1,512 1,538 1,584 Molybdenum 651 783 1,207 Oil 1,304 1,694 4,233 Other 973 1,024 1,424 Total $ 14,830 $ 14,607 $ 20,001 a. Amounts are net of treatment and refining charges totaling $652 million in 2016 , $485 million in 2015 and $374 million in 2014 .
Long-lived assets by geographic area	Information concerning financial data by geographic area follows: December 31, 2016 2015 2014 Long-lived assets: a U.S. $ 8,282 b $ 16,569 b $ 29,468 Indonesia 8,794 7,701 6,961 Peru 7,981 8,432 6,848 Chile 1,269 1,387 1,542 Other c 248 4,706 4,593 Total $ 26,574 $ 38,795 $ 49,412 a. Long-lived assets exclude deferred tax assets and intangible assets. b. Decrease in 2016 is primarily because of impairment charges related to oil and gas properties and asset dispositions, and decrease in 2015 is primarily because of impairment charges related to oil and gas properties (refer to Notes 1 and 2 for further discussion). c. Includes long-lived assets held for sale totaling $4.4 billion at December 31, 2015, and $4.3 billion at December 31, 2014, primarily associated with discontinued operations. Refer to Note 2 for further discussion.
Revenues by geographic area of customer	Years Ended December 31, 2016 2015 2014 Revenues: a U.S. $ 5,896 $ 6,842 $ 10,307 Indonesia 1,402 1,054 1,792 Japan 1,350 1,246 1,573 Switzerland 1,147 618 658 China 1,125 688 790 Spain 878 960 1,020 India 553 532 286 Bermuda 273 159 76 Philippines 261 169 — Chile 250 397 687 Korea 219 177 203 United Kingdom 204 83 142 Other 1,272 1,682 2,467 Total $ 14,830 $ 14,607 $ 20,001 a. Revenues are attributed to countries based on the location of the customer.
Schedule of financial information by business segment	Financial Information by Business Segment 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 a nations Total Year Ended December 31, 2016 Revenues: Unaffiliated customers $ 444 $ 240 $ 684 $ 2,241 $ 510 $ 2,751 $ 3,233 $ — $ 3,833 $ 1,825 $ 991 b $ 13,317 $ 1,513 c $ — $ 14,830 Intersegment 1,511 2,179 3,690 187 — 187 62 186 29 5 (4,159 ) — — — — Production and delivery 1,169 1,763 2,932 1,351 d 407 1,758 1,794 d 199 3,836 1,712 (3,388 ) 8,843 1,801 e 53 10,697 Depreciation, depletion and amortization 217 313 530 443 110 553 384 68 10 29 73 1,647 869 14 2,530 Impairment of oil and gas properties — — — — — — — — — — — — 4,299 18 f 4,317 Metals inventory adjustments — 1 1 — — — — 15 — — 20 36 — — 36 Selling, general and administrative expenses 2 3 5 8 1 9 90 — — 17 15 136 254 g 217 607 Mining exploration and research expenses — 3 3 — — — — — — — 61 64 — — 64 Environmental obligations and shutdown costs — — — — — — — — — — 19 19 — 1 20 Net (gain) loss on sales of assets (576 ) — (576 ) — — — — — — — (67 ) (643 ) 1 (7 ) (649 ) Operating income (loss) 1,143 336 1,479 626 (8 ) 618 1,027 (96 ) 16 72 99 3,215 (5,711 ) (296 ) (2,792 ) Interest expense, net 3 1 4 82 — 82 — — — 15 80 181 369 205 755 Provision for (benefit from) income taxes — — — 222 (6 ) 216 442 — — — — 658 — (287 ) 371 Total assets at December 31, 2016 2,863 4,448 7,311 9,076 1,533 10,609 10,954 1,934 220 658 1,444 33,130 467 3,720 37,317 Capital expenditures 77 25 102 380 2 382 1,025 2 1 17 109 h 1,638 1,127 i 48 2,813 Year Ended December 31, 2015 Revenues: Unaffiliated customers $ 558 $ 351 $ 909 $ 1,065 $ 808 $ 1,873 $ 2,617 $ — $ 4,125 $ 1,955 $ 1,133 b $ 12,612 $ 1,994 c $ 1 $ 14,607 Intersegment 1,646 2,571 4,217 68 (7 ) j 61 36 348 29 15 (4,706 ) — — — — Production and delivery d 1,523 2,276 3,799 815 623 1,438 1,808 312 4,129 1,848 (3,851 ) 9,483 1,211 e (1 ) 10,693 Depreciation, depletion and amortization 217 343 560 219 133 352 293 97 9 39 72 1,422 1,804 14 3,240 Impairment of oil and gas properties — — — — — — — — — — — — 12,980 164 f 13,144 Metals inventory adjustments — 142 142 — 73 73 — 11 — — 112 338 — — 338 Selling, general and administrative expenses 3 3 6 3 1 4 103 — — 16 20 149 188 221 558 Mining exploration and research expenses — 7 7 — — — — — — — 100 107 — — 107 Environmental obligations and shutdown costs — 3 3 — — — — — — — 74 77 — 1 78 Net gain on sales of assets — (39 ) (39 ) — — — — — — — — (39 ) — — (39 ) Operating income (loss) 461 187 648 96 (29 ) 67 449 (72 ) 16 67 (100 ) 1,075 (14,189 ) (398 ) (13,512 ) Interest expense, net 2 2 4 16 — 16 — — — 10 75 105 186 326 617 Provision for (benefit from) income taxes — — — 13 (9 ) 4 195 — — — — 199 — (2,150 ) (1,951 ) Total assets at December 31, 2015 3,567 4,878 8,445 9,445 1,661 11,106 9,357 1,999 219 612 6,417 h 38,155 8,141 281 46,577 Capital expenditures 253 102 355 1,674 48 1,722 901 13 4 23 277 h 3,295 2,948 i 110 6,353 a. Includes the results of the Deepwater GOM and onshore California oil and gas properties prior to their sale in December 2016. 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. Includes net mark-to-market (losses) gains of $(35) million in 2016 and $87 million in 2015 associated with oil derivative contracts. The 2016 oil derivative contracts were entered into as part of the terms to sell the onshore California oil and gas properties. d. The year 2016 includes charges of $16 million at Cerro Verde for social commitments and $17 million at Indonesia for asset impairment. The year 2015 includes asset impairment and restructuring charges totaling $145 million , including $99 million at other North America copper mines, and restructuring charges totaling $13 million at South America mines, $7 million at Molybdenum mines, $3 million at Rod & Refining, $20 million at Other Mining & Eliminations and $3 million at Corporate, Other & Eliminations. e. Includes net charges for oil and gas operations totaling $1.0 billion in 2016 and $188 million in 2015 , primarily for drillship settlements/idle rig and contract termination costs, inventory adjustments other asset impairments and net charges. f. Reflects impairment charges for international oil and gas properties primarily in Morocco. g. Includes $85 million for net restructuring charges at oil and gas operations. h. Includes (i) assets held for sale totaling $4.9 billion at December 31, 2015 , and (ii) capital expenditures totaling $73 million in 2016 and $229 million in 2015 associated with discontinued operations. Refer to Note 2 for a summary of the results of discontinued operations. i. Excludes international oil and gas capital expenditures totaling $47 million in 2016 and $100 million in 2015 , primarily related to the Morocco oil and gas properties, which are included in Corporate, Other & Eliminations. j. Reflects net reductions for provisional pricing adjustments to prior open sales. 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 a Total Grasberg Mines Refining & Refining nations Mining Operations b nations Total Year Ended December 31, 2014 Revenues: Unaffiliated customers $ 364 $ 336 $ 700 $ 1,282 $ 1,740 $ 3,022 $ 2,848 $ — $ 4,626 $ 2,391 $ 1,704 c $ 15,291 $ 4,710 d $ — $ 20,001 Intersegment 1,752 3,164 4,916 206 304 510 223 587 29 21 (6,286 ) — — — — Production and delivery 1,287 2,153 3,440 741 1,198 1,939 1,988 328 4,633 2,356 (4,807 ) 9,877 1,237 e 2 11,116 Depreciation, depletion and amortization 168 316 484 159 208 367 266 92 10 41 70 1,330 2,291 14 3,635 Impairment of oil and gas properties — — — — — — — — — — — — 3,737 — 3,737 Metals inventory adjustments — — — — — — — — — — 6 6 — — 6 Selling, general and administrative expenses 2 3 5 3 3 6 98 — — 17 25 151 207 222 580 Mining exploration and research expenses — 8 8 — — — — — — — 98 106 — — 106 Environmental obligations and shutdown costs — (5 ) (5 ) — — — — — — — 123 118 — 1 119 Goodwill impairment — — — — — — — — — — — — 1,717 — 1,717 Net gain on sales of assets — (14 ) (14 ) — — — — — — — (703 ) f (717 ) — — (717 ) Operating income (loss) 659 1,039 1,698 585 635 1,220 719 167 12 (2 ) 606 4,420 (4,479 ) (239 ) (298 ) Interest expense, net 3 1 4 1 — 1 — — — 13 84 102 241 263 606 Provision for income taxes — — — 265 266 531 293 — — — 221 f 1,045 — (820 ) 225 Total assets at December 31, 2014 3,780 5,611 9,391 7,490 1,993 9,483 8,592 2,095 235 898 6,426 g 37,120 20,834 720 58,674 Capital expenditures 826 143 969 1,691 94 1,785 935 54 4 17 217 g 3,981 3,205 h 29 7,215 a. Includes the results of the Candelaria and Ojos del Salado mines prior to their sale in November 2014. b. Includes the results of Eagle Ford shale assets prior to their sale in June 2014. c. Includes revenues from FCX's molybdenum sales company, which included sales of molybdenum produced by the Molybdenum mines and by certain of the North and South America copper mines. d. Includes net mark-to-market gains associated with crude oil and natural gas derivative contracts totaling $505 million . e. Includes charges at U.S. Oil & Gas operations totaling $46 million primarily for idle/terminated rig costs and inventory adjustments. f. Includes the gain and related income tax provision associated with the sale of the Candelaria and Ojos del Salado mines. g. Includes (i) assets held for sale totaling $4.8 billion and (ii) capital expenditures totaling $159 million 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 $19 million , primarily related to Morocco oil and gas properties, which are included in Corporate, Other & Eliminations.

GUARANTOR FINANCIAL STATEMENT45

GUARANTOR FINANCIAL STATEMENTS (Tables)	12 Months Ended
	Dec. 31, 2016
Guarantor Financial Statements [Abstract]
Condensed Balance Sheet	CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2016 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX ASSETS Current assets, other than assets held for sale $ 230 $ 1,790 $ 11,331 $ (3,260 ) $ 10,091 Current assets held for sale — — 344 — 344 Property, plant, equipment and mine development costs, net 19 24 23,176 — 23,219 Oil and gas properties, net - full cost method: Subject to amortization, less accumulated amortization and impairments — — 74 — 74 Investments in consolidated subsidiaries 21,110 — — (21,110 ) — Other assets 1,985 47 3,522 (1,965 ) 3,589 Total assets $ 23,344 $ 1,861 $ 38,447 $ (26,335 ) $ 37,317 LIABILITIES AND EQUITY Current liabilities, other than liabilities held for sale $ 3,895 $ 308 $ 3,101 $ (3,244 ) $ 4,060 Current liabilities held for sale — — 205 — 205 Long-term debt, less current portion 12,517 6,062 11,297 (15,081 ) 14,795 Deferred income taxes 826 a — 2,942 — 3,768 Environmental and asset retirement obligations, less current portion — 200 3,287 — 3,487 Investments in consolidated subsidiary — 893 8,995 (9,888 ) — Other liabilities 55 3,393 1,784 (3,487 ) 1,745 Total liabilities 17,293 10,856 31,611 (31,700 ) 28,060 Equity: Stockholders' equity 6,051 (8,995 ) 4,237 4,758 6,051 Noncontrolling interests — — 2,599 607 3,206 Total equity 6,051 (8,995 ) 6,836 5,365 9,257 Total liabilities and equity $ 23,344 $ 1,861 $ 38,447 $ (26,335 ) $ 37,317 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 $ 10,062 $ (7,532 ) $ 6,542 Current assets held for sale — — 920 — 920 Property, plant, equipment and mine development costs, net 26 57 23,903 — 23,986 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 3,584 (6,798 ) 3,650 Assets held for sale — — 4,386 — 4,386 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 $ 5,024 $ (7,526 ) $ 4,176 Current liabilities held for sale — — 131 — 131 Long-term debt, less current portion 14,735 5,883 11,490 (12,433 ) 19,675 Deferred income taxes 941 a — 2,626 — 3,567 Environmental and asset retirement obligations, less current portion — 305 3,409 — 3,714 Investment in consolidated subsidiary — — 2,397 (2,397 ) — Other liabilities 40 3,360 1,732 (3,491 ) 1,641 Liabilities held for sale — — 865 — 865 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 Income Statement	CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE (LOSS) INCOME Year Ended December 31, 2016 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 379 $ 14,451 $ — $ 14,830 Total costs and expenses 75 3,074 a 14,463 a 10 17,622 Operating loss (75 ) (2,695 ) (12 ) (10 ) (2,792 ) Interest expense, net (534 ) (56 ) (498 ) 333 (755 ) Other income (expense), net 271 — 70 (292 ) 49 Net gain on exchanges and early extinguishment of debt 26 — — — 26 (Loss) income before income taxes and equity in affiliated companies' net (losses) earnings (312 ) (2,751 ) (440 ) 31 (3,472 ) (Provision for) benefit from income taxes (2,233 ) 1,053 821 (12 ) (371 ) Equity in affiliated companies' net (losses) earnings (1,609 ) (3,101 ) (4,790 ) 9,511 11 Net (loss) income from continuing operations (4,154 ) (4,799 ) (4,409 ) 9,530 (3,832 ) Net loss from discontinued operations — — (154 ) (39 ) (193 ) Net (loss) income (4,154 ) (4,799 ) (4,563 ) 9,491 (4,025 ) Net income, and gain on redemption and preferred dividends attributable to noncontrolling interests: Continuing operations — — — (66 ) (66 ) Discontinued operations — — (63 ) — (63 ) Net (loss) income attributable to common stockholders $ (4,154 ) $ (4,799 ) $ (4,626 ) $ 9,425 $ (4,154 ) Other comprehensive (loss) income (45 ) — (45 ) 45 (45 ) Total comprehensive (loss) income $ (4,199 ) $ (4,799 ) $ (4,671 ) $ 9,470 $ (4,199 ) 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. Year Ended December 31, 2015 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 613 $ 13,994 $ — $ 14,607 Total costs and expenses 60 5,150 a 22,920 a (11 ) 28,119 Operating (loss) income (60 ) (4,537 ) (8,926 ) 11 (13,512 ) Interest expense, net (489 ) (8 ) (272 ) 152 (617 ) Other income (expense), net 225 1 (86 ) (139 ) 1 (Loss) income before income taxes and equity in affiliated companies' net (losses) earnings (324 ) (4,544 ) (9,284 ) 24 (14,128 ) (Provision for) benefit from income taxes (3,227 ) 1,718 3,469 (9 ) 1,951 Equity in affiliated companies' net (losses) earnings (8,685 ) (9,976 ) (12,838 ) 31,496 (3 ) Net (loss) income from continuing operations (12,236 ) (12,802 ) (18,653 ) 31,511 (12,180 ) Net income from discontinued operations — — 91 — 91 Net (loss) income (12,236 ) (12,802 ) (18,562 ) 31,511 (12,089 ) Net income and preferred dividends attributable to noncontrolling interests: Continuing operations — — (35 ) (33 ) (68 ) Discontinued operations — — (79 ) — (79 ) Net (loss) income attributable to common stockholders $ (12,236 ) $ (12,802 ) $ (18,676 ) $ 31,478 $ (12,236 ) Other comprehensive income (loss) 41 — 41 (41 ) 41 Total comprehensive (loss) income $ (12,195 ) $ (12,802 ) $ (18,635 ) $ 31,437 $ (12,195 ) a. Includes impairment charges totaling $4.2 billion at the FM O&G LLC Guarantor and $8.9 billion at the non-guarantor subsidiaries related to FCX's oil and gas properties pursuant to full cost accounting rules. CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE (LOSS) INCOME Year Ended December 31, 2014 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 2,356 $ 17,645 $ — $ 20,001 Total costs and expenses 59 3,498 a 16,720 a 22 20,299 Operating (loss) income (59 ) (1,142 ) 925 (22 ) (298 ) Interest expense, net (382 ) (139 ) (165 ) 80 (606 ) Net (loss) gain on early extinguishment of debt (5 ) 78 — — 73 Other income (expense), net 72 3 36 (80 ) 31 (Loss) income before income taxes and equity in affiliated companies' net earnings (losses) (374 ) (1,200 ) 796 (22 ) (800 ) Benefit from (provision for) income taxes 96 281 (610 ) 8 (225 ) Equity in affiliated companies' net (losses) earnings (1,007 ) (3,429 ) (4,633 ) 9,072 3 Net (loss) income from continuing operations (1,285 ) (4,348 ) (4,447 ) 9,058 (1,022 ) Net (loss) income from discontinued operations (23 ) — 300 — 277 Net (loss) income (1,308 ) (4,348 ) (4,147 ) 9,058 (745 ) Net income and preferred dividends attributable to noncontrolling interests: Continuing operations — — (354 ) (44 ) (398 ) Discontinued operations — — (165 ) — (165 ) Net (loss) income attributable to common stockholders $ (1,308 ) $ (4,348 ) $ (4,666 ) $ 9,014 $ (1,308 ) Other comprehensive (loss) income (139 ) — (139 ) 139 (139 ) Total comprehensive (loss) income $ (1,447 ) $ (4,348 ) $ (4,805 ) $ 9,153 $ (1,447 ) a. Includes impairment charges totaling $1.9 billion at the FM O&G LLC Guarantor and $3.5 billion at the non-guarantor subsidiaries related to ceiling test impairment charges for FCX's oil and gas properties pursuant to full cost accounting rules and a goodwill impairment charge.
Condensed Cash Flow Statement	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Year Ended December 31, 2016 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Cash flow from operating activities: Net (loss) income $ (4,154 ) $ (4,799 ) $ (4,563 ) $ 9,491 $ (4,025 ) Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: Depreciation, depletion and amortization 5 192 2,430 (17 ) 2,610 Impairment of oil and gas properties — 1,531 2,765 21 4,317 Non-cash oil and gas drillship settlements — 689 — — 689 Net gain on sales of assets — (86 ) (567 ) 4 (649 ) Equity in losses (earnings) of consolidated subsidiaries 1,609 3,101 4,790 (9,511 ) (11 ) Other, net (95 ) 30 807 (1 ) 741 Changes in working capital and other tax payments, excluding amounts from dispositions 2,498 (929 ) (1,527 ) 15 57 Net cash (used in) provided by operating activities (137 ) (271 ) 4,135 2 3,729 Cash flow from investing activities: Capital expenditures — (567 ) (2,248 ) 2 (2,813 ) Intercompany loans 481 (346 ) — (135 ) — Dividends from (investments in) consolidated subsidiaries 1,469 (45 ) 176 (1,600 ) — Proceeds from sales of assets 2 1,670 4,687 (4 ) 6,355 Other, net — 3 5 — 8 Net cash provided by (used in) investing activities 1,952 715 2,620 (1,737 ) 3,550 Cash flow from financing activities: Proceeds from debt 1,721 — 1,960 — 3,681 Repayments of debt (5,011 ) — (2,614 ) — (7,625 ) Intercompany loans — (332 ) 197 135 — Net proceeds from sale of common stock 1,515 — 3,388 (3,388 ) 1,515 Cash dividends and distributions paid, including redemption (6 ) (107 ) (5,555 ) 4,969 (699 ) Other, net (34 ) (3 ) (20 ) 19 (38 ) Net cash (used in) provided by financing activities (1,815 ) (442 ) (2,644 ) 1,735 (3,166 ) Net increase in cash and cash equivalents — 2 4,111 — 4,113 Increase in cash and cash equivalents in assets held for sale — — (45 ) — (45 ) Cash and cash equivalents at beginning of year — — 177 — 177 Cash and cash equivalents at end of year $ — $ 2 $ 4,243 $ — $ 4,245 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Year Ended December 31, 2015 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Cash flow from operating activities: Net (loss) income $ (12,236 ) $ (12,802 ) $ (18,562 ) $ 31,511 $ (12,089 ) Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: Depreciation, depletion and amortization 5 370 3,195 (73 ) 3,497 Impairment of oil and gas properties — 4,220 8,862 62 13,144 Metals inventory adjustments — — 338 — 338 Other asset impairments, oil and gas inventory adjustments, and restructuring — 11 245 — 256 Net gains on crude oil and natural gas derivative contracts — (87 ) — — (87 ) Equity in losses (earnings) of consolidated subsidiaries 8,685 9,976 12,838 (31,496 ) 3 Other, net (2,127 ) 2 (90 ) — (2,215 ) Changes in working capital and other tax payments 5,506 (1,428 ) (3,714 ) 9 373 Net cash (used in) provided by operating activities (167 ) 262 3,112 13 3,220 Cash flow from investing activities: Capital expenditures (7 ) (847 ) (5,486 ) (13 ) (6,353 ) Intercompany loans (1,812 ) (1,310 ) — 3,122 — Dividends from (investments in) consolidated subsidiaries 852 (71 ) 130 (913 ) (2 ) Other, net (21 ) (2 ) 111 21 109 Net cash (used in) provided by investing activities (988 ) (2,230 ) (5,245 ) 2,217 (6,246 ) Cash flow from financing activities: Proceeds from debt 4,503 — 3,769 — 8,272 Repayments of debt (4,660 ) — (2,017 ) — (6,677 ) Intercompany loans — 2,038 1,084 (3,122 ) — Net proceeds from sale of common stock 1,936 — — — 1,936 Cash dividends and distributions paid (605 ) — (924 ) 804 (725 ) Other, net (19 ) (71 ) (18 ) 88 (20 ) Net cash provided by (used in) financing activities 1,155 1,967 1,894 (2,230 ) 2,786 Net decrease in cash and cash equivalents — (1 ) (239 ) — (240 ) Decrease in cash and cash equivalents in assets held for sale — — 119 — 119 Cash and cash equivalents at beginning of year — 1 297 — 298 Cash and cash equivalents at end of year $ — $ — $ 177 $ — $ 177 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Year Ended December 31, 2014 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Cash flow from operating activities: Net (loss) income $ (1,308 ) $ (4,348 ) $ (4,147 ) $ 9,058 $ (745 ) Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: Depreciation, depletion and amortization 4 806 3,077 (24 ) 3,863 Impairment of oil and gas properties and goodwill — 1,922 3,486 46 5,454 Net gains on crude oil and natural gas derivative contracts — (504 ) — — (504 ) Equity in losses (earnings) of consolidated subsidiaries 1,007 3,429 4,633 (9,072 ) (3 ) Other, net (882 ) (113 ) (807 ) — (1,802 ) Changes in working capital and other tax payments, excluding amounts from dispositions 723 (1,750 ) 395 — (632 ) Net cash (used in) provided by operating activities (456 ) (558 ) 6,637 8 5,631 Cash flow from investing activities: Capital expenditures — (2,143 ) (5,072 ) — (7,215 ) Acquisition of Deepwater GOM interests — — (1,426 ) — (1,426 ) Intercompany loans (1,328 ) 704 — 624 — Dividends from (investments in) consolidated subsidiaries 1,221 (130 ) (2,408 ) 1,317 — Proceeds from sale of Eagle Ford shale assets — 2,910 — — 2,910 Proceeds from sale of Candelaria and Ojos del Salado mines — — 1,709 — 1,709 Other, net — 41 180 — 221 Net cash (used in) provided by investing activities (107 ) 1,382 (7,017 ) 1,941 (3,801 ) Cash flow from financing activities: Proceeds from debt 7,464 — 1,246 — 8,710 Repayments of debt (5,575 ) (3,994 ) (737 ) — (10,306 ) Intercompany loans — 810 (186 ) (624 ) — Cash dividends and distributions paid (1,305 ) 2,364 (1,463 ) (1,325 ) (1,729 ) Other, net (21 ) (3 ) (2 ) — (26 ) Net cash provided by (used in) financing activities 563 (823 ) (1,142 ) (1,949 ) (3,351 ) Net increase (decrease) in cash and cash equivalents — 1 (1,522 ) — (1,521 ) Increase in cash and cash equivalents in assets held for sale — — (45 ) — (45 ) Cash and cash equivalents at beginning of year — — 1,864 — 1,864 Cash and cash equivalents at end of year $ — $ 1 $ 297 $ — $ 298

QUARTERLY FINANCIAL INFORMATI46

QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Quarterly financial information	First Quarter Second Quarter Third Quarter Fourth Quarter Year 2016 Revenues $ 3,242 $ 3,334 $ 3,877 $ 4,377 a $ 14,830 a Operating (loss) income b,c (3,872 ) d 18 d,e 359 d,e,f 703 e,f (2,792 ) d,e,f Net (loss) income from continuing operations g (4,097 ) (229 ) 292 202 (3,832 ) Net loss from discontinued operations h (4 ) (181 ) (6 ) (2 ) (193 ) Net (loss) income (4,101 ) (410 ) 286 200 (4,025 ) Net income and preferred dividends attributable to noncontrolling interests: Continuing operations (73 ) (57 ) (47 ) 111 i (66 ) i Discontinued operations (10 ) (12 ) (22 ) (19 ) (63 ) Net (loss) income attributable to common stockholders (4,184 ) (479 ) 217 292 (4,154 ) Basic and diluted net (loss) income per share attributable common stockholders: Continuing operations $ (3.34 ) $ (0.23 ) $ 0.18 $ 0.22 $ (2.96 ) Discontinued operations (0.01 ) (0.15 ) (0.02 ) (0.01 ) (0.20 ) $ (3.35 ) $ (0.38 ) $ 0.16 $ 0.21 $ (3.16 ) 2015 Revenues a $ 3,771 $ 3,938 $ 3,382 $ 3,516 $ 14,607 Operating loss b,c,d (3,030 ) e (2,421 ) (3,964 ) f (4,097 ) f (13,512 ) e,f Net loss from continuing operations (2,447 ) (1,828 ) j (3,815 ) (4,090 ) (12,180 ) j Net income (loss) from discontinued operations h 41 29 25 (4 ) 91 Net loss (2,406 ) (1,799 ) (3,790 ) (4,094 ) (12,089 ) Net (income) loss and preferred dividends attributable to noncontrolling interests: Continuing operations (42 ) (26 ) (24 ) 24 (68 ) Discontinued operations (26 ) (26 ) (16 ) (11 ) (79 ) Net loss attributable to common stockholders (2,474 ) (1,851 ) (3,830 ) (4,081 ) (12,236 ) Basic and diluted net (loss) income per share attributable common stockholders: Continuing operations $ (2.40 ) $ (1.78 ) $ (3.59 ) $ (3.46 ) $ (11.32 ) Discontinued operations 0.02 — 0.01 (0.01 ) 0.01 $ (2.38 ) $ (1.78 ) $ (3.58 ) $ (3.47 ) $ (11.31 ) a. Includes charges for net noncash mark-to-market losses associated with crude oil and natural gas derivative contracts totaling $41 million ( $41 million to net income (loss) attributable to common stockholders or $0.03 per share) in the fourth quarter and for the year 2016, $48 million ( $30 million to net loss attributable to common stockholders or $0.03 per share) in first-quarter 2015, $95 million ( $59 million to net loss attributable to common stockholders or $0.06 per share) in second-quarter 2015, $74 million ( $46 million to net loss attributable to common stockholders or $0.04 per share) in third-quarter 2015, $102 million ( $63 million to net loss attributable to common stockholders or $0.05 per share) in fourth-quarter 2015 and $319 million ( $198 million to net loss attributable to common stockholders or $0.18 per share) for the year 2015. b. The 2016 periods include charges at oil and gas operations impacting operating (loss) income and net (loss) income attributable to common stockholders of $201 million ( $0.16 per share) in the first quarter, $729 million ( $0.57 per share) in the second quarter, $50 million ( $0.03 per share) in the third quarter, $142 million ( $0.09 per share) in the fourth quarter and $1.1 billion ( $0.84 per share) for the year, primarily for drillship settlements/idle rig costs, inventory adjustments and other asset impairments and restructuring charges. The 2015 periods include charges at oil and gas operations of $17 million ( $10 million to net loss attributable to common stockholders or $0.01 per share) in the first quarter, $22 million ( $14 million to net loss attributable to common stockholders or $0.01 per share) in the second quarter, $21 million ( $13 million to net loss attributable to common stockholders or $0.01 per share) in the third quarter, $129 million ( $81 million to net loss attributable to common stockholders or $0.07 per share) in the fourth quarter and $188 million ( $117 million to net loss attributable to common stockholders or $0.11 per share) for the year, primarily for other asset impairments, inventory adjustments, idle/terminated rig costs and prior year mineral tax assessments related to the California properties. c. The 2016 periods include charges impacting operating (loss) income and net (loss) income attributable to common stockholders for metals inventory adjustments totaling $5 million (less than $0.01 per share) in the first quarter, $2 million (less than $0.01 per share) in the second quarter, $20 million ( $0.01 per share) in the third quarter, $9 million ( $0.01 per share) in the fourth quarter and $36 million ( $0.03 per share) for the year. The 2015 periods include charges for metal inventory adjustments of $4 million ( $3 million to net loss attributable to common stockholders or less than $0.01 per share) in the first quarter, $59 million ( $38 million to net loss attributable to common stockholders or $0.04 per share) in the second quarter, $91 million ( $58 million to net loss attributable to common stockholders or $0.05 per share) in the third quarter, $184 million ( $118 million to net loss attributable to common stockholders or $0.10 per share) in the fourth quarter and $338 million ( $217 million to net loss attributable to common stockholders or $0.20 per share) for the year. d. The 2016 periods include charges impacting operating (loss) income and net (loss) income attributable to common stockholders to reduce the carrying value of oil and gas properties pursuant to full cost accounting rules of $3.8 billion ( $3.03 per share) in the first quarter, $291 million ( $0.23 per share) in the second quarter, $239 million ( $0.18 per share) in the third quarter and $4.3 billion ( $3.28 per share) for the year. The 2015 periods include charges to reduce the carrying value of oil and gas properties pursuant to full cost accounting rules of $3.1 billion ( $2.4 billion to net loss attributable to common stockholders or $2.31 per share) in the first quarter, $2.7 billion ( $2.0 billion to net loss attributable to common stockholders or $1.90 per share) in the second quarter, $3.7 billion ( $3.5 billion to net loss attributable to common stockholders or $3.25 per share) in the third quarter, $3.7 billion ( $3.7 billion to net loss attributable to common stockholders or $3.18 per share) in the fourth quarter and $13.1 billion ( $11.6 billion to net loss attributable to common stockholders or $10.72 per share) for the year. e. Includes net gains (losses) on sales of assets of $749 million ( $744 million to net loss attributable to common stockholders or $0.59 per share) in second-quarter 2016, $13 million ( $13 million to net income attributable to common stockholders or $0.01 per share) in third-quarter 2016, $(113) million ( $(108) million to net income attributable to common stockholders or $(0.08) per share) in fourth-quarter 2016 and $649 million ( $649 million to net loss attributable to common stockholders or $0.49 per share) for the year 2016, primarily associated with the Morenci and Timok transactions, partly offset with losses associated with the potential Freeport Cobalt and Kisanfu transactions and the sales of oil and gas properties (refer to Note 2 for further discussion). Net gains on sales of assets for 2015 totaled $39 million ( $25 million to net loss attributable to common stockholders or $0.02 per share) in the first quarter and for the year associated with the sale of the Luna Energy power facility. f. The 2016 periods include charges from mining operations of $17 million ( $9 million to net income attributable to common stockholders or $0.01 per share) in the third quarter, $16 million ( $5 million to net income attributable to common stockholders or less than $0.01 per share) in the fourth quarter and $33 million ( $14 million to net loss attributable to common stockholders or $0.01 per share) for the year, primarily for a PT-FI asset retirement and Cerro Verde social commitments. The 2015 periods include charges from mining operations of $92 million ( $56 million to net loss attributable to common stockholders or $0.05 per share) in the third quarter, $53 million ( $34 million to net loss attributable to common stockholders or $0.03 per share) in the fourth quarter and $145 million ( $90 million to net loss attributable to common stockholders or $0.08 per share) for the year associated with asset impairment, restructuring and other net charges. g. Includes net (losses) gains on exchanges and early extinguishment of debt totaling $(3) million (less than ($0.01) per share) in the first quarter, $39 million ( $0.03 per share) in the second quarter, $15 million ( $0.01 per share) in the third quarter, $(25) million ( $(0.02) per share) in the fourth quarter and $26 million ( $0.02 per share) for the year. Refer to Note 8 for further discussion. h. Reflects the results of TFHL and includes charges for allocated interest expense associated with the portion of the Term Loan that was required to be repaid as a result of the sale of FCX's interest in TFHL, which was completed on November 16, 2016. The 2016 periods also include charges for the loss on disposal of $177 million ( $0.14 per share) in the second quarter, $5 million (less than $0.01 per share) in the third quarter, $16 million ( $0.01 per share) in the fourth quarter and $198 million ( $0.15 per share) for the year. Refer to Note 2 for further discussion of discontinued operations. i. Includes a gain on redemption of noncontrolling interest for the settlement of FCX's preferred stock obligation at its Plains Offshore subsidiary (refer to Notes 1 and 2 for further discussion) totaling $199 million ( $0.14 per share in the fourth quarter and $0.15 per share for the year). j. Includes a gain of $92 million ( $0.09 per share) in the second quarter and for the year associated with the net proceeds received from insurance carriers and other third parties related to the shareholder derivative litigation settlement.

SUPPLEMENTARY MINERAL RESERVE47

SUPPLEMENTARY MINERAL RESERVE INFORMATION (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2016
Mineral Industries Disclosures [Abstract]
Schedule Of Estimated Recoverable Proven And Probable Reserves By Location [Text Block]	Recoverable Proven and Probable Mineral Reserves Estimated at December 31, 2016 Copper a (billion pounds) Gold (million ounces) Molybdenum (billion pounds) North America 30.4 0.3 2.31 South America 29.5 — 0.64 Indonesia b 26.9 25.8 — Consolidated c 86.8 26.1 2.95 Net equity interest d 70.5 23.7 2.65 a. Consolidated recoverable copper reserves included 2.2 billion pounds in leach stockpiles and 1.0 billion pounds in mill stockpiles. b. Recoverable proven and probable reserves reflect estimates of minerals that can be recovered through the end of 2041 (refer to Note 13 for discussion of PT-FI's COW). c. Consolidated reserves represent estimated metal quantities after reduction for joint venture partner interests at the Morenci mine in North America and the Grasberg minerals district in Indonesia (refer to Note 3 for further discussion of FCX's joint ventures). Excluded from the table above were FCX’s estimated recoverable proven and probable reserves of 281.8 million ounces of silver in North America, South America and Indonesia, which were determined using a long-term average price of $15 per ounce. d. Net equity interest reserves represent estimated consolidated metal quantities further reduced for noncontrolling interest ownership (refer to Note 3 for further discussion of FCX's ownership in subsidiaries). Excluded from the table above were FCX’s estimated recoverable proven and probable reserves of 226.0 million ounces of silver in North America, South America and Indonesia.
Supplementary Reserve Information at 100% Basis by Location	Recoverable Proven and Probable Mineral Reserves Estimated at December 31, 2016 Average Ore Grade Per Metric Ton a Recoverable Proven and Probable Reserves b Ore a (million metric tons) Copper (%) Gold (grams) Molybdenum (%) Copper (billion pounds) Gold (million ounces) Molybdenum (billion pounds) North America Developed and producing: Morenci 3,274 0.27 — — c 12.8 — 0.15 Sierrita 2,434 0.23 — c 0.02 10.4 0.1 1.04 Bagdad 1,244 0.32 — c 0.02 7.4 0.1 0.36 Chino 226 0.47 0.02 — c 2.1 0.1 0.01 Climax 170 — — 0.15 — — 0.54 Henderson 77 — — 0.17 — — 0.25 Safford 75 0.31 — — 0.6 — — Tyrone 6 0.51 — — 0.2 — — Miami — — — — 0.1 — — Undeveloped: Cobre 86 0.34 — — 0.4 — — South America Developed and producing: Cerro Verde 3,673 0.37 — 0.01 26.7 — 0.64 El Abra 431 0.45 — — 2.8 — — Indonesia d Developed and producing: Deep Mill Level Zone 439 0.90 0.75 — 7.6 8.4 — Deep Ore Zone 100 0.51 0.70 — 1.0 1.8 — Big Gossan 60 2.19 0.97 — 2.6 1.3 — Grasberg open pit 56 1.26 2.11 — 1.7 3.4 — Under development: Grasberg Block Cave 964 1.03 0.78 — 18.5 15.7 — Undeveloped: Kucing Liar 408 1.26 1.10 — 9.7 6.7 — Total 100% basis 13,723 104.6 37.6 2.99 Consolidated e 86.8 26.1 2.95 FCX’s equity share f 70.5 23.7 2.65 a. Excludes material contained in stockpiles. b. Includes estimated recoverable metals contained in stockpiles. c. Amounts not shown because of rounding. d. Recoverable proven and probable reserves reflect estimates of minerals that can be recovered through the end of 2041 (refer to Note 13 for discussion of PT-FI's COW). e. Consolidated reserves represent estimated metal quantities after reduction for joint venture partner interests at the Morenci mine in North America and the Grasberg minerals district in Indonesia. Refer to Note 3 for further discussion of FCX's joint ventures. f. Net equity interest reserves represent estimated consolidated metal quantities further reduced for noncontrolling interest ownership. Refer to Note 3 for further discussion of FCX's ownership in subsidiaries.

SUPPLEMENTARY OIL AND GAS INF48

SUPPLEMENTARY OIL AND GAS INFORMATION (UNAUDITED) SUPPLEMENTARY OIL AND GAS INFORMATION (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2016
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
Cost Incurred in Oil and Gas Property Acquisition, Exploration, and Development Activities Disclosure	A summary of the costs incurred for FCX's oil and gas acquisition, exploration and development activities for the years ended December 31 follows: 2016 2015 2014 Property acquisition costs: Proved properties $ — $ — $ 463 Unproved properties 7 61 1,460 Exploration costs 22 1,250 1,482 Development costs 749 1,442 1,270 $ 778 $ 2,753 $ 4,675
Capitalized Costs Relating to Oil and Gas Producing Activities Disclosure	The aggregate capitalized costs subject to amortization for oil and gas properties and the aggregate related accumulated amortization as of December 31 follow: 2016 2015 2014 Properties subject to amortization $ 27,507 $ 24,538 $ 16,547 Accumulated amortization (27,433 ) a (22,276 ) a (7,360 ) a $ 74 $ 2,262 $ 9,187 a. Includes charges of $4.3 billion in 2016 , $13.1 billion in 2015 and $3.7 billion in 2014 to reduce the carrying value of oil and gas properties pursuant to full cost accounting rules.
Results of Operations for Oil and Gas Producing Activities Disclosure	The results of operations from oil and gas producing activities for the years ended December 31, 2016 , 2015 and 2014 , presented below exclude non-oil and gas revenues, general and administrative expenses, goodwill impairment, interest expense and interest income. Income tax benefit was determined by applying the statutory rates to pre-tax operating results: 2016 2015 2014 Revenues from oil and gas producing activities $ 1,513 $ 1,994 $ 4,710 Production and delivery costs (1,829 ) a (1,215 ) (1,237 ) Depreciation, depletion and amortization (839 ) (1,772 ) (2,265 ) Impairment of oil and gas properties (4,317 ) (13,144 ) (3,737 ) Income tax benefit (based on FCX's U.S. federal statutory tax rate) — b 5,368 958 Results of operations from oil and gas producing activities $ (5,472 ) $ (8,769 ) $ (1,571 ) a. Includes $926 million in charges related to drillship settlements/idle rig and contract termination costs. b. FCX has provided a full valuation allowance on losses associated with oil and gas activities in 2016.
Schedule of Proved Developed and Undeveloped Oil and Gas Reserve Quantities	The following table sets forth certain data pertaining to proved, proved developed and proved undeveloped reserves, all of which are in the U.S., for the years ended December 31, 2016 , 2015 and 2014 . Oil Gas Total (MMBbls) a,b (Bcf) a (MMBOE) a 2016 Proved reserves: Balance at beginning of year 207 274 252 Extensions and discoveries — — — Acquisitions of reserves in-place — — — Revisions of previous estimates 1 — 1 Sale of reserves in-place (168 ) (118 ) (187 ) Production (36 ) (69 ) (48 ) Balance at end of year 4 87 18 Proved developed reserves at December 31, 2016 4 87 18 Proved undeveloped reserves at December 31, 2016 — — — Oil Gas Total (MMBbls) a,b (Bcf) a (MMBOE) a 2015 Proved reserves: Balance at beginning of year 288 610 390 Extensions and discoveries 11 43 17 Acquisitions of reserves in-place — — — Revisions of previous estimates (54 ) (287 ) (102 ) Sale of reserves in-place — (2 ) — Production (38 ) (90 ) (53 ) Balance at end of year 207 274 252 Proved developed reserves at December 31, 2015 129 245 169 Proved undeveloped reserves at December 31, 2015 78 29 83 2014 Proved reserves: Balance at beginning of year 370 562 464 Extensions and discoveries 10 35 16 Acquisitions of reserves in-place 14 9 16 Revisions of previous estimates (10 ) 140 13 Sale of reserves in-place (53 ) (54 ) (62 ) Production (43 ) (82 ) (57 ) Balance at end of year 288 610 390 Proved developed reserves at December 31, 2014 184 369 246 Proved undeveloped reserves at December 31, 2014 104 241 144 a. MMBbls = million barrels; Bcf = billion cubic feet; MMBOE = million BOE b. Includes NGL proved reserves of 1 MMBbls (all developed) at December 31, 2016 , 9 MMBbls ( 6 MMBbls of developed and 3 MMBbls of undeveloped) at December 31, 2015 , and 10 MMBbls ( 7 MMBbls of developed and 3 MMBbls of undeveloped) at December 31, 2014 .
Standardized Measure of Discounted Future Cash Flows Relating to Proved Reserves Disclosure	The Standardized Measure related to proved oil and natural gas reserves as of December 31 follows: 2016 2015 2014 Future cash inflows $ 345 $ 10,536 $ 29,504 Future production expense (175 ) (4,768 ) (10,991 ) Future development costs a (439 ) (4,130 ) (6,448 ) Future income tax expense — — (2,487 ) Future net cash flows (269 ) 1,638 9,578 Discounted at 10% per year 32 (246 ) (3,157 ) Standardized Measure $ (237 ) $ 1,392 $ 6,421 a. Includes estimated asset retirement costs of $0.4 billion at December 31, 2016 , $1.9 billion at December 31, 2015 , and $1.8 billion at December 31, 2014 .
Schedule of Changes in Standardized Measure of Discounted Future Net Cash Flows	A summary of the principal sources of changes in the Standardized Measure for the years ended December 31 follows: 2016 2015 2014 Balance at beginning of year $ 1,392 $ 6,421 $ 9,417 Changes during the year: Sales, net of production expenses (831 ) (928 ) (3,062 ) Net changes in sales and transfer prices, net of production expenses (341 ) (7,766 ) (2,875 ) Extensions, discoveries and improved recoveries — 45 194 Changes in estimated future development costs, including timing and other 146 1,287 (498 ) Previously estimated development costs incurred during the year 295 985 982 Sales of reserves in-place (1,049 ) — (1,323 ) Other purchases of reserves in-place — — 487 Revisions of quantity estimates 12 (1,170 ) 399 Accretion of discount 139 797 1,195 Net change in income taxes — 1,721 1,505 Total changes (1,629 ) (5,029 ) (2,996 ) Balance at end of year $ (237 ) $ 1,392 $ 6,421

SUMMARY OF SIGNIFICANT ACCOUN49

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Millions	3 Months Ended							12 Months Ended
	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2016USD ($)$ / bbl	Dec. 31, 2015USD ($)$ / bbl	Dec. 31, 2014USD ($)$ / bbl
Schedule of Significant Accounting Policies [Line Items]
Impairment of Oil and Gas Properties	$ 239	$ 291	$ 3,800	$ 3,700	$ 3,700	$ 2,700	$ 3,100	$ 4,317	$ 13,144	$ 3,737
Foreign currency transaction gains (losses), before tax								32	(90)	(2)
Transfer to full cost pool									6,400	2,500
United States oil and gas operations
Schedule of Significant Accounting Policies [Line Items]
Capitalized interest								$ 7	$ 58	$ 88
Crude Oil
Schedule of Significant Accounting Policies [Line Items]
Average sales price (usd per bbl) | $ / bbl								42.75	50.28	94.99
Copper
Schedule of Significant Accounting Policies [Line Items]
Percentage of ultimate copper recovery from leach stockpiles								90.00%
Percentage of copper ultimately recoverable from newly placed material on active stockpiles extracted during the first year								80.00%
PT-FI
Schedule of Significant Accounting Policies [Line Items]
Ownership percentage of subsidiary								90.64%

SUMMARY OF SIGNIFICANT ACCOUN50

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Property, Plant and Equipment) (Details)	12 Months Ended
	Dec. 31, 2016
Building
Property, Plant and Equipment [Line Items]
Property, plant, equipment and mine development, useful life	39 years
Machinery and equipment | Minimum
Property, Plant and Equipment [Line Items]
Property, plant, equipment and mine development, useful life	3 years
Machinery and equipment | Maximum
Property, Plant and Equipment [Line Items]
Property, plant, equipment and mine development, useful life	30 years
Mobile equipment | Minimum
Property, Plant and Equipment [Line Items]
Property, plant, equipment and mine development, useful life	3 years
Mobile equipment | Maximum
Property, Plant and Equipment [Line Items]
Property, plant, equipment and mine development, useful life	30 years

SUMMARY OF SIGNIFICANT ACCOUN51

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Goodwill) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)$ / bbl	Dec. 31, 2013USD ($)$ / bbl
Goodwill [Line Items]
Goodwill, acquired during the period				$ 1,900
Goodwill [Roll Forward]
Goodwill, beginning balance		$ 0	$ 1,916
Purchase accounting adjustments			22
Disposal of Eagle Ford shale assets (see Note 2)			(221)
Impairment charge	$ 0	$ 0	(1,717)
Goodwill, ending balance			$ 0	$ 1,916
Oil | Minimum
Goodwill [Roll Forward]
Average sales price (usd per bbl) | $ / bbl			62	90
Oil | Maximum
Goodwill [Roll Forward]
Average sales price (usd per bbl) | $ / bbl			80	98

SUMMARY OF SIGNIFICANT ACCOUN52

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Redeemable Noncontrolling Interest - PXP) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2011	Dec. 31, 2016	Dec. 31, 2015
Redeemable Noncontrolling Interest [Line Items]
Common Stock Held in Trust			1,574,000,000	1,374,000,000
Plains Offshore Operations Inc.
Redeemable Noncontrolling Interest [Line Items]
Ownership percentage	20.00%
Plains Offshore Operations Inc.
Redeemable Noncontrolling Interest [Line Items]
Preferred Stock, Dividend Rate, Percentage	8.00%
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 20	$ 20
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	500,000	9,100,000
Preferred Stock, Dividend Rate, Potential Deferment Rate	2.00%
Plains Offshore Operations Inc. | 8% Convertible Preferred Stock
Redeemable Noncontrolling Interest [Line Items]
Preferred Stock, Shares Issued	24,000	450,000
Preferred Stock, Dividend Rate, Percentage		8.00%
Proceeds from Issuance of Convertible Preferred Stock	$ 24	$ 450
Plains Offshore Operations Inc. | Common Class A
Redeemable Noncontrolling Interest [Line Items]
Common Stock Held in Trust		87,000,000

SUMMARY OF SIGNIFICANT ACCOUN53

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Accounting Policies [Abstract]
Net loss from continuing operations	$ 202	$ 292	$ (229)	$ (4,097)	$ (4,090)	$ (3,815)	$ (1,828)	$ (2,447)	$ (3,832)	$ (12,180)	$ (1,022)
Net income from continuing operations attributable to noncontrolling interests									(227)	(27)	(358)
Gain on redemption and preferred dividends attributable to noncontrolling interests									161	(41)	(40)
Accumulated dividends on participating securities									(3)	(3)	(3)
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent									(3,901)	(12,251)	(1,423)
Net (loss) income from discontinued operations	(2)	(6)	(181)	(4)	(4)	25	29	41	(193)	91	277
Net income from discontinued operations attributable to noncontrolling interests	$ (19)	$ (22)	$ (12)	$ (10)	$ (11)	$ (16)	$ (26)	$ (26)	(63)	(79)	(165)
Net (loss) income from discontinued operations attributable to common stockholders									(256)	12	112
Net Income (Loss) Available to Common Stockholders, Diluted									$ (4,157)	$ (12,239)	$ (1,311)
Basic and diluted weighted-average shares of common stock outstanding (in shares)									1,318	1,082	1,039
Basic and diluted net (loss) income per share attributable to common stockholders:
Continuing operations (in dollars per share)	$ 0.22	$ 0.18	$ (0.23)	$ (3.34)	$ (3.46)	$ (3.59)	$ (1.78)	$ (2.40)	$ (2.96)	$ (11.32)	$ (1.37)
Discontinued operations (in dollars per share)	(0.01)	(0.02)	(0.15)	(0.01)	(0.01)	0.01	0	0.02	(0.20)	0.01	0.11
Earnings per share, basic and diluted (in dollars per share)	$ 0.21	$ 0.16	$ (0.38)	$ (3.35)	$ (3.47)	$ (3.58)	$ (1.78)	$ (2.38)	$ (3.16)	$ (11.31)	$ (1.26)
Potential anti-dilutive securities									12	9	10
Outstanding options with exercise prices greater than market price of common stock									46	45	31

DISPOSITIONS AND ACQUISITIONS54

DISPOSITIONS AND ACQUISITIONS (TF Holdings Limited) (Details) $ in Millions	Nov. 16, 2016USD ($)$ / lb	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Nov. 15, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Other assets		$ 1,956	$ 1,987
Net gain on sales of assets		(649)	$ (39)	$ (717)
Freeport Cobalt And Kisanfu Exploration Project
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net gain on sales of assets		$ 110
Freeport Cobalt
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage		56.00%
Consideration transferred		$ 100
Kisanfu Exploration Project
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage		100.00%
Consideration transferred		$ 50
Disposed of by Sale, Discontinued Operations | TF Holdings Limited
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestiture, net	$ 2,650
Contingent receivable	120
Other assets		13
Loss on disposal		$ 33
TF Holdings Limited
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage					70.00%
Tenke Fungurume mine | TF Holdings Limited
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage					80.00%
Copper | Disposed of by Sale, Discontinued Operations | TF Holdings Limited
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contingent receivable	$ 60
Contingent consideration, reference threshold, price per barrel (in us dollars per pound) | $ / lb	3.50
Cobalt | Disposed of by Sale, Discontinued Operations | TF Holdings Limited
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contingent receivable	$ 60
Contingent consideration, reference threshold, price per barrel (in us dollars per pound) | $ / lb	20

DISPOSITIONS AND ACQUISITIONS55

DISPOSITIONS AND ACQUISITIONS (Assets and Liabilities of TFHL) (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Assets
Total current assets held for sale	$ 344	$ 920
Total long-term assets held for sale	0	4,386	$ 4,300
Liabilities
Total current liabilities held for sale	205	131
Total long-term liabilities held for sale	0	865
Noncontrolling interests	$ 3,206	4,216
TF Holdings Limited | Discontinued operations, held-for-sale
Assets
Cash and cash equivalents		29
Inventories		584
Receivables and other current assets		131
Total current assets held for sale		744
Property, plant, equipment and mine development costs, net		3,261
Inventories		608
Other assets		241
Total long-term assets held for sale		4,110
Liabilities
Accounts payable and accrued liabilities		108
Total current liabilities held for sale		108
Deferred income taxes		681
Asset retirement obligations and other liabilities		37
Total long-term liabilities held for sale		718
Noncontrolling interests		$ 1,178

DISPOSITIONS AND ACQUISITIONS56

DISPOSITIONS AND ACQUISITIONS (Net Income (Loss) from Discontinued Operations) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on disposal									$ (198)	$ 0	$ 0
Net (loss) income from discontinued operations	$ (2)	$ (6)	$ (181)	$ (4)	$ (4)	$ 25	$ 29	$ 41	(193)	91	277
Eliminations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net (loss) income from discontinued operations									(39)	0	0
TF Holdings Limited | Disposed of by Sale, Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues									959	1,270	1,437
Production and delivery costs									833	852	782
Depreciation, depletion and amortization									80	257	228
Interest expense allocated from parentc									39	28	24
Other costs and expenses, net									10	26	27
(Loss) income before income taxes and loss on disposal									(3)	107	376
Loss on disposal									(198)	0	0
Net (loss) income before income taxes									(201)	107	376
Benefit from (provision for) income taxes									8	(16)	(99)
Net (loss) income from discontinued operations									(193)	91	277
TF Holdings Limited | Disposed of by Sale, Discontinued Operations | Eliminations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues									$ 157	$ 114	$ 121

DISPOSITIONS AND ACQUISITIONS57

DISPOSITIONS AND ACQUISITIONS (Cash Flows from Discontinued Operations) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Dispositions And Acquisitions [Abstract]
Net cash provided by operating activities	$ 241	$ 217	$ 529
Net cash used in investing activities	(73)	(253)	(174)
Net cash used in financing activities	(123)	(82)	(285)
Increase (decrease) in cash and cash equivalents in assets held for sale	$ 45	$ (118)	$ 70

DISPOSITIONS AND ACQUISITIONS58

DISPOSITIONS AND ACQUISITIONS (Oil and Gas Operations) (Details) $ in Millions	Dec. 30, 2016USD ($)	Dec. 15, 2016USD ($)	Jul. 25, 2016USD ($)	Jun. 17, 2016USD ($)	Dec. 31, 2016USD ($)$ / bbl	Dec. 31, 2016USD ($)$ / bbl	Sep. 30, 2014USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2014USD ($)	Dec. 31, 2016USD ($)$ / bbl	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Jun. 20, 2014USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Other assets					$ 1,956	$ 1,956				$ 1,956	$ 1,987
Net gain on sales of assets										(649)	(39)	$ (717)
Adjustment to goodwill												221
Vito Basin [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration transferred							$ 496
Lucas Heidelberg
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration transferred									$ 918
Deepwater Gulf of Mexico and onshore California oil and gas properties
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sales										2,272	0	0
Eagle Ford shale assets
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sales									3,100	0	$ 0	$ 2,910
Changes in deferred tax liabilities and deferred tax asset valuation allowances								$ 84
Adjustment to goodwill									$ 221
Deposits																$ 1,300
Freeport-McMoRan Oil & Gas | Deepwater Gulf of Mexico and onshore California oil and gas properties
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net gain on sales of assets										9
Preferred stock redemption amount					582	582				582
Gain on redemption of preferred stock					199	199				199
Freeport-McMoRan Oil & Gas | Onshore California
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contingent consideration asset	$ 150
Other assets					$ 33	$ 33				$ 33
Proceeds from sales	592
Freeport-McMoRan Oil & Gas | Onshore California | Crude Oil
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contingent consideration, reference threshold, price per barrel (in us dollars per pound) | $ / bbl					70	70				70
Freeport-McMoRan Oil & Gas | Onshore California | Forecast
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contingent consideration asset													$ 50	$ 50	$ 50
Freeport-McMoRan Oil & Gas | Deepwater Gulf of Mexico Interests
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contingent consideration asset	$ 150
Proceeds from sales		$ 2,000
Freeport-McMoRan Oil & Gas | Haynesville
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sales			$ 87
Freeport-McMoRan Oil & Gas | Black Stone Minerals, L.P.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sales				$ 102

DISPOSITIONS AND ACQUISITIONS59

DISPOSITIONS AND ACQUISITIONS (Morenci) (Details) - USD ($) $ in Millions	May 31, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	May 30, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net gain on sales of assets		$ 649	$ 39	$ 717
Morenci
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage					85.00%
Proceeds from divestiture, net	$ 1,000
Net gain on sales of assets	$ 576
Morenci | Sumitomo Metal Mining Co., Ltd.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage					15.00%
Morenci | Wholly Owned Affiliate Of SMM
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage	13.00%

DISPOSITIONS AND ACQUISITIONS60

DISPOSITIONS AND ACQUISITIONS (Timok) (Details) - USD ($) $ in Millions	May 02, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net gain on sales of assets		$ 649	$ 39	$ 717
Timok
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestiture, net	$ 135
Amount of contingent liabilities remaining	107
Net gain on sales of assets	$ 133

DISPOSITIONS AND ACQUISITIONS61

DISPOSITIONS AND ACQUISITIONS (Candelaria and Ojos del Salado) (Details) - USD ($) $ in Millions	3 Months Ended									10 Months Ended	12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Nov. 03, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net gain on sales of assets											$ 649	$ 39	$ 717
Net income before taxes											(3,472)	(14,128)	(800)
Net (loss) income attributable to common stockholders	$ 292	$ 217	$ (479)	$ (4,184)	$ (4,081)	$ (3,830)	$ (1,851)	$ (2,474)			(4,154)	(12,236)	(1,308)
Disposal Group, Including Discontinued Operation, Unclassified Balance Sheet Disclosures [Abstract]
Current assets	344				920						344	920
Long-term assets	0				4,386				$ 4,300		0	4,386	$ 4,300
Liabilities held for sale	205				131						205	131
Long-term liabilities	0				865						0	865
Noncontrolling interests	$ 3,206				$ 4,216						$ 3,206	$ 4,216
Candelaria and Ojos del Salado mines
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage										80.00%
Proceeds from divestiture, net									1,800
Amount of contingent liabilities remaining										$ 200
Net tax proceeds from divestiture									1,500
Net gain on sales of assets									$ 671
Net income before taxes										270
Net (loss) income attributable to common stockholders										144
Disposed of by Sale, Not Discontinued Operations | Candelaria and Ojos del Salado mines
Disposal Group, Including Discontinued Operation, Unclassified Balance Sheet Disclosures [Abstract]
Current assets										482
Long-term assets										1,155
Liabilities held for sale										129
Long-term liabilities										89
Noncontrolling interests										$ 243

OWNERSHIP IN SUBSIDIARIES AND62

OWNERSHIP IN SUBSIDIARIES AND JOINT VENTURES (Details) oz in Millions, lb in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2016USD ($)lboz	Dec. 31, 2015USD ($)	Dec. 31, 1994lboz
Summary of investment holdings [Line Items]
Retained Earnings (accumulated deficit)		$ (16,540)	$ (12,387)
Freeport-McMoRan Corporation [Member]
Summary of investment holdings [Line Items]
Number of pounds of copper purchased from Sumitomo (in pounds) | lb		165
Sumitomo Metal Mining, Ltd. and SMM Morenci Inc. [Member]
Summary of investment holdings [Line Items]
Dollar value of pounds purchased from Sumitomo		$ 362
Due from Joint Ventures, Current		$ 15
PT-FI
Summary of investment holdings [Line Items]
Percent interest in certain assets and future production per terms of the joint venture agreement		60.00%
Percentage of cash flows from specified annual amounts of copper, gold and silver calculated by reference to proven and probable reserves as of 12/31/1994 (in hundredths)		100.00%
Percentage of remaining cash flows		60.00%
Percentage of optional participation of any other future exploration costs shared by joint venture		60.00%
PT Freeport Indonesia [Member]
Summary of investment holdings [Line Items]
Net assets (liabilities) in subsidiary		$ 6,400
Retained Earnings (accumulated deficit)		6,100
Loans outstanding		$ 88
Rio Tinto Share In Joint Venture [Member]
Summary of investment holdings [Line Items]
Percent interest in certain assets and future production per terms of the joint venture agreement		40.00%
Percentage of optional participation of any other future exploration costs shared by joint venture		40.00%
Sumitomo Metal Mining Co., Ltd. [Member]
Summary of investment holdings [Line Items]
Due from Joint Ventures, Current			$ 10
Copper
Summary of investment holdings [Line Items]
Estimated Recoverable Proven And Probable Reserves (in pounds) | lb		104,600
Copper | PT-FI
Summary of investment holdings [Line Items]
Estimated Recoverable Proven And Probable Reserves (in pounds) | lb				27,100
Gold
Summary of investment holdings [Line Items]
Estimated Recoverable Proven And Probable Reserves (in pounds) | oz		37.6
Gold | PT-FI
Summary of investment holdings [Line Items]
Estimated Recoverable Proven And Probable Reserves (in pounds) | oz				38.4
Silver | PT-FI
Summary of investment holdings [Line Items]
Estimated Recoverable Proven And Probable Reserves (in pounds) | oz				75.8
Morenci
Summary of investment holdings [Line Items]
Ownership percentage		72.00%
Morenci | SMM Morenci Inc. [Member]
Summary of investment holdings [Line Items]
Ownership percentage		13.00%
Morenci | Sumitomo Metal Mining Co., Ltd. [Member]
Summary of investment holdings [Line Items]
Ownership percentage		15.00%
Cerro Verde [Member]
Summary of investment holdings [Line Items]
Ownership percentage		53.56%
Other North America Mines [Member]
Summary of investment holdings [Line Items]
Ownership percentage		100.00%
El Abra [Member]
Summary of investment holdings [Line Items]
Ownership percentage		51.00%
PT Indocopper Investama [Member]
Summary of investment holdings [Line Items]
Ownership percentage		100.00%
Freeport Minerals Corporation [Member]
Summary of investment holdings [Line Items]
Loans outstanding		$ 0
Freeport Minerals Corporation [Member] | Subsidiaries [Member]
Summary of investment holdings [Line Items]
Net assets (liabilities) in subsidiary		15,800
Retained Earnings (accumulated deficit)		$ (14,100)
PT Freeport Indonesia [Member]
Summary of investment holdings [Line Items]
Ownership percentage		81.28%
PT Freeport Indonesia [Member] | PT Indocopper Investama [Member]
Summary of investment holdings [Line Items]
Ownership percentage		9.36%
PT Freeport Indonesia [Member] | Rio Tinto Share In Joint Venture [Member]
Summary of investment holdings [Line Items]
Percentage interest in joint venture contract of work by third party		40.00%
Optional Participation Of Future Exploration Costs Shared By Joint Venture Percentage		40.00%
Atlantic Copper [Member]
Summary of investment holdings [Line Items]
Ownership percentage		100.00%
Net assets (liabilities) in subsidiary		$ (25)
Retained Earnings (accumulated deficit)		(436)
Loans outstanding		$ 290
Freeport-McMoRan Oil & Gas
Summary of investment holdings [Line Items]
Ownership percentage		100.00%
Net assets (liabilities) in subsidiary		$ (13,400)
Retained Earnings (accumulated deficit)		(25,000)
Loans outstanding		9,100
Rio Tinto [Member] | Co-venturer [Member]
Summary of investment holdings [Line Items]
Due to Related Parties, Current		$ 10
Scenario, Forecast [Member] | Rio Tinto Share In Joint Venture [Member]
Summary of investment holdings [Line Items]
Percent interest in certain assets and future production per terms of the joint venture agreement	40.00%

INVENTORIES, INCLUDING LONG-T63

INVENTORIES, INCLUDING LONG-TERM MILL AND LEACH STOCKPILES (Components of Inventories) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Components of Inventories [Line Items]
Total materials and supplies, net	$ 1,306				$ 1,575				$ 1,306	$ 1,575
Mill stockpiles	259				137				259	137
Leach stockpiles	1,079				1,402				1,079	1,402
Total current mill and leach stockpiles	1,338				1,539				1,338	1,539
Raw materials (primarily concentrate)	255				220				255	220
Work-in-process	114				108				114	108
Finished goods	629				633				629	633
Total product inventories	998				961				998	961
Mill stockpiles	487				480				487	480
Leach stockpiles	1,146				1,183				1,146	1,183
Total long-term inventoriesb	1,633				1,663				1,633	1,663
Inventory obsolescence reserves	29				26				29	26
Metals inventory adjustments	$ 9	$ 20	$ 2	$ 5	$ 184	$ 91	$ 59	$ 4	$ 36	338	$ 6
Molybdenum
Components of Inventories [Line Items]
Metals inventory adjustments										123
Copper
Components of Inventories [Line Items]
Metals inventory adjustments										$ 215

PROPERTY, PLANT, EQUIPMENT AN64

PROPERTY, PLANT, EQUIPMENT AND MINING DEVELOPMENT COSTS, NET (Schedule of PPE) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 30, 2008	Dec. 31, 2007
Property, Plant and Equipment [Line Items]
Property, plant, equipment and mining development costs	$ 35,956,000,000	$ 35,398,000,000
Accumulated depreciation, depletion and amortization	(12,737,000,000)	(11,412,000,000)
Property, plant, equipment and mining development costs, net	23,219,000,000	23,986,000,000
Proven and probable reserves [Member]
Property, Plant and Equipment [Line Items]
Property, plant, equipment and mining development costs	3,863,000,000	3,880,000,000
Transfer From Value Beyond Proven And Probable Reserves To Proven And Probable Reserves	0	0	$ 640,000,000
Value beyond proven and probable reserves (VBPP) [Member]
Property, Plant and Equipment [Line Items]
Payments to Acquire Mineral Rights					$ 1,600,000,000
Property, plant, equipment and mining development costs	559,000,000	559,000,000
Property, Plant and Equipment, Transfers and Changes				$ 485,000,000
Mine development and other
Property, Plant and Equipment [Line Items]
Property, plant, equipment and mining development costs	5,755,000,000	4,878,000,000
Buildings and infrastructure
Property, Plant and Equipment [Line Items]
Property, plant, equipment and mining development costs	7,479,000,000	6,964,000,000
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant, equipment and mining development costs	11,744,000,000	11,558,000,000
Mobile equipment
Property, Plant and Equipment [Line Items]
Property, plant, equipment and mining development costs	3,725,000,000	3,843,000,000
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant, equipment and mining development costs	2,831,000,000	3,716,000,000
Discontinued Operations
Property, Plant and Equipment [Line Items]
Payments to Acquire Mineral Rights					$ 634,000,000
Mining Operations [Member]
Property, Plant and Equipment [Line Items]
Capitalized interest	$ 92,000,000	$ 157,000,000	$ 148,000,000
El Abra
Property, Plant and Equipment [Line Items]
Reduction in Operating Rates, Percent	50.00%
Henderson
Property, Plant and Equipment [Line Items]
Reduction in Operating Rates, Percent	65.00%

PROPERTY, PLANT, EQUIPMENT AN65

PROPERTY, PLANT, EQUIPMENT AND MINING DEVELOPMENT COSTS, NET (Details) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)$ / lb	Dec. 31, 2016$ / lb
Tyrone [Member]
Property, Plant and Equipment [Line Items]
Impairment of Long-Lived Assets Held-for-use | $	$ 37
Copper
Property, Plant and Equipment [Line Items]
Asset Impairment Evaluation, Average Price Assumption (Dollars per Pound)	3
Average Price	2.13	2.50
Molybdenum
Property, Plant and Equipment [Line Items]
Asset Impairment Evaluation, Average Price Assumption (Dollars per Pound)	10
Average Price	5.23	6.74
CME SWAPS MARKETS (COMEX) [Member] | Copper | Minimum
Property, Plant and Equipment [Line Items]
Asset Impairment Evaluation, Average Price Assumption (Dollars per Pound)	2.15
CME SWAPS MARKETS (COMEX) [Member] | Copper | Maximum
Property, Plant and Equipment [Line Items]
Asset Impairment Evaluation, Average Price Assumption (Dollars per Pound)	2.17
LONDON METAL EXCHANGE [Member] | Copper | Minimum
Property, Plant and Equipment [Line Items]
Asset Impairment Evaluation, Average Price Assumption (Dollars per Pound)	2.13
LONDON METAL EXCHANGE [Member] | Copper | Maximum
Property, Plant and Equipment [Line Items]
Asset Impairment Evaluation, Average Price Assumption (Dollars per Pound)	2.16

OTHER ASSETS (Details)

OTHER ASSETS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Schedule Of Other Assets [Line Items]
Intangible assetsb	$ 305	$ 316
Investments: [Abstract]
Assurance bond	120	118
Available-for-sale securities	50	47
Other	50	50
Disposal group, contingent consideration	196	0
Legally restricted fundsf	182	171
Long-term receivable for taxes	129	261
Rio Tinto's share of ARO	71	49
Long-lead equipment	17	187
Deferred drillship costs	0	81
Other	145	141
Total other assets	1,956	1,987
Finite-Lived Intangible Assets, Accumulated Amortization	37	61
Equity in affiliated companies’ net earnings (losses)	11	(3)	$ 3
PT Freeport Indonesia [Member]
Investments: [Abstract]
Long-term receivable for taxes	331	209
Cerro Verde
Investments: [Abstract]
Long-term receivable for taxes	277	245
PT Smelting
Investments: [Abstract]
PT Smelting	$ 83	112
Ownership percentage	25.00%
Equity in affiliated companies’ net earnings (losses)	$ 39	14
Accounts Receivable, Gross, Current	283	160
NEW MEXICO
Investments: [Abstract]
Legally restricted funds for asset retirement obligations at New Mexico mines	$ 173	$ 169

ACCOUNTS PAYABLE AND ACCRUED 67

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Accounts Payable and Accrued Liabilities [Line Items]
Accounts payable	$ 1,540	$ 2,251
Salaries, wages and other compensation	225	212
Accrued interest	129	165
Accrued taxes, other than income taxes	90	201
Deferred revenue	82	41
Pension, postretirement, postemployment and other employee benefits	76	125
Accrued mining royalties	46	33
Oil and gas royalty and revenue payable	37	53
Other	168	151
Total accounts payable and accrued liabilities	2,393	3,232
Cash interest paid, net	743	570	$ 637
Cash interest paid, net	$ 743	$ 570	637
ERROR in label resolution. | ERROR in label resolution.
Accounts Payable and Accrued Liabilities [Line Items]
Cash interest paid, net			3
Cash interest paid, net			$ 3

DEBT (Details)

DEBT (Details)	Sep. 30, 2018	Mar. 31, 2018	Sep. 30, 2017	Nov. 30, 2013USD ($)	May 31, 2013USD ($)	Mar. 30, 2013USD ($)	Feb. 29, 2012USD ($)	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016USD ($)payment	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 30, 2016USD ($)	May 31, 2016USD ($)	Nov. 30, 2014USD ($)	May 31, 2014USD ($)	Mar. 31, 2013USD ($)	Mar. 07, 2013USD ($)	Feb. 28, 2012USD ($)
Debt Instruments [Line Items]
Liabilities, Fair Value Adjustment										$ 179,000,000	$ 210,000,000
Long-term Debt													$ 2,228,000,000
Long-term Debt and Capital Lease Obligations, Including Current Maturities										16,027,000,000	20,324,000,000
Less current portion of long-term debt and short-term borrownings										(1,232,000,000)	(649,000,000)
Long-term debt										14,795,000,000	19,675,000,000
Cerro Verde [Abstract]
Extinguishment of Debt, Principal Amount													2,342,000,000
Senior Notes Issued by FCX [Abstract]
Principal Amount of Senior Notes Tendered													2,091,000,000
Exchanges and Early Extinguishment of Debt [Abstract]
Debt Issuance Costs, Gross										100,000,000	129,000,000
Net gain (loss) on early extinguishment of debt										(26,000,000)	0	$ (73,000,000)
Long-term Debt, by Maturity [Abstract]
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months										1,200,000,000
Long-term Debt, Maturities, Repayments of Principal in Year Two										2,300,000,000
Long-term Debt, Maturities, Repayments of Principal in Year Three										1,100,000,000
Long-term Debt, Maturities, Repayments of Principal in Year Four										1,600,000,000
Long-term Debt, Maturities, Repayments of Principal in Year Five										862,000,000
Long-term Debt, Maturities, Repayments of Principal in Rolling after Year Five										8,800,000,000
Bank Term Loan [Member]
Debt Instruments [Line Items]
Long-term Debt										0	3,032,000,000
Bank Term Loan [Abstract]
Borrowings from Shareholder Loan												4,000,000,000
Cerro Verde [Abstract]
Extinguishment of Debt, Principal Amount																	$ 4,000,000,000
Senior Notes [Member]
Debt Instruments [Line Items]
Liabilities, Fair Value Adjustment										151,000,000
Cerro Verde [Abstract]
Extinguishment of Debt, Principal Amount										$ 407,000,000		4,208,000,000						$ 6,500,000,000
Senior Notes Issued by FCX [Abstract]
Percentage of FM O&G LLC senior notes tendered for new FCX senior notes										89.00%
Proceeds from Issuance of Long-term Debt				$ 2,970,000,000		$ 6,400,000,000	$ 2,470,000,000
Cash										$ 14,000,000
Exchanges and Early Extinguishment of Debt [Abstract]
Debt Issuance Costs, Gross										4,000,000
Extinguishment of Debt, Amount										403,000,000		4,572,000,000
Extinguishment Of Debt, Redemption Value										349,000,000		4,495,000,000
Net gain (loss) on early extinguishment of debt										(54,000,000)
Losses related to deferred debt issuance costs and senior note exchange offer										28,000,000
Extinguishment of Debt, Purchase Accounting Adjustments												364,000,000
Other Debt, Including Capital Leases and Short Term Borrowings [Member]
Debt Instruments [Line Items]
Long-term Debt and Capital Lease Obligations, Including Current Maturities										$ 5,000,000	4,000,000
Revolving Credit Facility [Member] | Senior Notes [Member]
Exchanges and Early Extinguishment of Debt [Abstract]
Net gain (loss) on early extinguishment of debt												(77,000,000)
Losses primarily associated with modification of credit facility												4,000,000
6.125% Senior Notes due 2019 [Member] [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Long-term Debt													186,000,000
Cerro Verde [Abstract]
Extinguishment of Debt, Principal Amount													237,000,000
Senior Notes Issued by FCX [Abstract]
Principal Amount of Senior Notes Tendered													179,000,000
Senior Notes Due 2015 1 Point 40 Percent [Member] | Senior Notes [Member]
Cerro Verde [Abstract]
Extinguishment of Debt, Principal Amount												500,000,000
Senior Notes Issued by FCX [Abstract]
Debt Instrument, Interest Rate, Stated Percentage										1.40%
Exchanges and Early Extinguishment of Debt [Abstract]
Extinguishment of Debt, Amount												500,000,000
Extinguishment Of Debt, Redemption Value												501,000,000
Net gain (loss) on early extinguishment of debt												1,000,000
Extinguishment of Debt, Purchase Accounting Adjustments												0
2.15% Senior Notes due 2017 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Long-term Debt										$ 500,000,000	499,000,000
Cerro Verde [Abstract]
Extinguishment of Debt, Principal Amount																			$ 500,000,000
Senior Notes Issued by FCX [Abstract]
Debt Instrument, Interest Rate, Stated Percentage										2.15%									2.15%
2.30% Senior Notes due 2017 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Long-term Debt										$ 728,000,000	747,000,000
Cerro Verde [Abstract]
Extinguishment of Debt, Principal Amount										$ 20,000,000					$ 750,000,000
Senior Notes Issued by FCX [Abstract]
Debt Instrument, Interest Rate, Stated Percentage										2.30%					2.30%
Exchanges and Early Extinguishment of Debt [Abstract]
Debt Issuance Costs, Gross										$ 0
Extinguishment of Debt, Amount										20,000,000
Extinguishment Of Debt, Redemption Value										20,000,000
Net gain (loss) on early extinguishment of debt										0
2.375% Senior Notes due March 2018 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Long-term Debt										1,480,000,000	1,495,000,000
Cerro Verde [Abstract]
Extinguishment of Debt, Principal Amount										$ 18,000,000								$ 1,500,000,000
Senior Notes Issued by FCX [Abstract]
Debt Instrument, Interest Rate, Stated Percentage										2.375%								2.375%
Exchanges and Early Extinguishment of Debt [Abstract]
Debt Issuance Costs, Gross										$ 0
Extinguishment of Debt, Amount										18,000,000
Extinguishment Of Debt, Redemption Value										18,000,000
Net gain (loss) on early extinguishment of debt										0
6.125% Senior Notes due 2019 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Long-term Debt										186,000,000	0
Cerro Verde [Abstract]
Extinguishment of Debt, Principal Amount												513,000,000
Exchanges and Early Extinguishment of Debt [Abstract]
Extinguishment of Debt, Amount												553,000,000
Extinguishment Of Debt, Redemption Value												555,000,000
Net gain (loss) on early extinguishment of debt												2,000,000
Extinguishment of Debt, Purchase Accounting Adjustments												40,000,000
3.100% Senior Notes due March 2020 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Long-term Debt										$ 996,000,000	995,000,000		242,000,000
Cerro Verde [Abstract]
Extinguishment of Debt, Principal Amount													261,000,000					$ 1,000,000,000
Senior Notes Issued by FCX [Abstract]
Debt Instrument, Interest Rate, Stated Percentage										3.10%								3.10%
Principal Amount of Senior Notes Tendered													228,000,000
6.5% Senior Notes due 2020 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Long-term Debt										$ 583,000,000	0		583,000,000
Cerro Verde [Abstract]
Extinguishment of Debt, Principal Amount												883,000,000	617,000,000
Senior Notes Issued by FCX [Abstract]
Principal Amount of Senior Notes Tendered													552,000,000
Exchanges and Early Extinguishment of Debt [Abstract]
Extinguishment of Debt, Amount												962,000,000
Extinguishment Of Debt, Redemption Value												952,000,000
Net gain (loss) on early extinguishment of debt												(10,000,000)
Extinguishment of Debt, Purchase Accounting Adjustments												79,000,000
6.625% Senior Notes due 2021 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Long-term Debt										242,000,000	0
Cerro Verde [Abstract]
Extinguishment of Debt, Principal Amount												339,000,000
Exchanges and Early Extinguishment of Debt [Abstract]
Extinguishment of Debt, Amount												370,000,000
Extinguishment Of Debt, Redemption Value												367,000,000
Net gain (loss) on early extinguishment of debt												(3,000,000)
Extinguishment of Debt, Purchase Accounting Adjustments												31,000,000
4.00% Senior Notes due 2021 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Long-term Debt										$ 595,000,000	594,000,000
Cerro Verde [Abstract]
Extinguishment of Debt, Principal Amount															$ 600,000,000
Senior Notes Issued by FCX [Abstract]
Debt Instrument, Interest Rate, Stated Percentage										4.00%					4.00%
6.75% Senior Notes due 2022 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Long-term Debt										$ 432,000,000	0		432,000,000
Cerro Verde [Abstract]
Extinguishment of Debt, Principal Amount												551,000,000	449,000,000
Senior Notes Issued by FCX [Abstract]
Principal Amount of Senior Notes Tendered													404,000,000
Exchanges and Early Extinguishment of Debt [Abstract]
Extinguishment of Debt, Amount												608,000,000
Extinguishment Of Debt, Redemption Value												600,000,000
Net gain (loss) on early extinguishment of debt												(8,000,000)
Extinguishment of Debt, Purchase Accounting Adjustments												57,000,000
3.55% Senior Notes due 2022 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Long-term Debt										1,882,000,000	1,987,000,000
Cerro Verde [Abstract]
Extinguishment of Debt, Principal Amount										$ 108,000,000									$ 2,000,000,000
Senior Notes Issued by FCX [Abstract]
Debt Instrument, Interest Rate, Stated Percentage										3.55%									3.55%
Exchanges and Early Extinguishment of Debt [Abstract]
Debt Issuance Costs, Gross										$ 1,000,000
Extinguishment of Debt, Amount										107,000,000
Extinguishment Of Debt, Redemption Value										96,000,000
Net gain (loss) on early extinguishment of debt										(11,000,000)
6.875% Senior Notes due 2023 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Long-term Debt										784,000,000	0		785,000,000
Cerro Verde [Abstract]
Extinguishment of Debt, Principal Amount												722,000,000	778,000,000
Senior Notes Issued by FCX [Abstract]
Principal Amount of Senior Notes Tendered													$ 728,000,000
Exchanges and Early Extinguishment of Debt [Abstract]
Extinguishment of Debt, Amount												806,000,000
Extinguishment Of Debt, Redemption Value												785,000,000
Net gain (loss) on early extinguishment of debt												(21,000,000)
Extinguishment of Debt, Purchase Accounting Adjustments												84,000,000
3.875% Senior Notes due March 2023 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Long-term Debt										1,912,000,000	1,987,000,000
Cerro Verde [Abstract]
Extinguishment of Debt, Principal Amount										$ 77,000,000								$ 2,000,000,000
Senior Notes Issued by FCX [Abstract]
Debt Instrument, Interest Rate, Stated Percentage										3.875%								3.875%
Exchanges and Early Extinguishment of Debt [Abstract]
Debt Issuance Costs, Gross										$ 0
Extinguishment of Debt, Amount										77,000,000
Extinguishment Of Debt, Redemption Value										68,000,000
Net gain (loss) on early extinguishment of debt										(9,000,000)
4.55% Senior Notes due 2024 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Long-term Debt										$ 844,000,000	843,000,000
Cerro Verde [Abstract]
Extinguishment of Debt, Principal Amount															$ 850,000,000
Senior Notes Issued by FCX [Abstract]
Debt Instrument, Interest Rate, Stated Percentage										4.55%					4.55%
5.40% Senior Notes due 2034 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Long-term Debt										$ 739,000,000	788,000,000
Cerro Verde [Abstract]
Extinguishment of Debt, Principal Amount										$ 50,000,000					$ 800,000,000
Senior Notes Issued by FCX [Abstract]
Debt Instrument, Interest Rate, Stated Percentage										5.40%					5.40%
Exchanges and Early Extinguishment of Debt [Abstract]
Debt Issuance Costs, Gross										$ 1,000,000
Extinguishment of Debt, Amount										49,000,000
Extinguishment Of Debt, Redemption Value										41,000,000
Net gain (loss) on early extinguishment of debt										(8,000,000)
5.450% Senior Notes due March 2043 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Long-term Debt										1,842,000,000	1,973,000,000
Cerro Verde [Abstract]
Extinguishment of Debt, Principal Amount										$ 134,000,000								$ 2,000,000,000
Senior Notes Issued by FCX [Abstract]
Debt Instrument, Interest Rate, Stated Percentage										5.45%								5.45%
Exchanges and Early Extinguishment of Debt [Abstract]
Debt Issuance Costs, Gross										$ 2,000,000
Extinguishment of Debt, Amount										132,000,000
Extinguishment Of Debt, Redemption Value										106,000,000
Net gain (loss) on early extinguishment of debt										$ (26,000,000)
7.125% Debentures due 2027 [Member] | Debentures [Member]
Senior Notes Issued by FCX [Abstract]
Debt Instrument, Interest Rate, Stated Percentage										7.125%
9.5% Senior Notes due 2031 [Member] | Senior Notes [Member]
Senior Notes Issued by FCX [Abstract]
Debt Instrument, Interest Rate, Stated Percentage										9.50%
6.125% Senior Notes due 2034 [Member] | Senior Notes [Member]
Senior Notes Issued by FCX [Abstract]
Debt Instrument, Interest Rate, Stated Percentage										6.125%
8.625% Senior Notes due 2019 [Member] | Senior Notes [Member]
Cerro Verde [Abstract]
Extinguishment of Debt, Principal Amount												400,000,000
Exchanges and Early Extinguishment of Debt [Abstract]
Extinguishment of Debt, Amount												441,000,000
Extinguishment Of Debt, Redemption Value												417,000,000
Net gain (loss) on early extinguishment of debt												(24,000,000)
Extinguishment of Debt, Purchase Accounting Adjustments												41,000,000
7.625% Senior Notes due 2020 [Member] | Senior Notes [Member]
Cerro Verde [Abstract]
Extinguishment of Debt, Principal Amount												300,000,000
Exchanges and Early Extinguishment of Debt [Abstract]
Extinguishment of Debt, Amount												332,000,000
Extinguishment Of Debt, Redemption Value												318,000,000
Net gain (loss) on early extinguishment of debt												(14,000,000)
Extinguishment of Debt, Purchase Accounting Adjustments												32,000,000
Cerro Verde | Shareholder Loan [Member]
Debt Instruments [Line Items]
Long-term Debt										$ 261,000,000	259,000,000
Cerro Verde [Abstract]
Debt, Weighted Average Interest Rate										3.10%
Extinguishment of Debt, Principal Amount										$ 800,000,000
Freeport-McMoRan Oil & Gas | Senior Notes [Member]
Debt Instruments [Line Items]
Liabilities, Fair Value Adjustment					$ 716,000,000					16,000,000
Cerro Verde [Abstract]
Extinguishment of Debt, Principal Amount					6,400,000,000					251,000,000
Freeport-McMoRan Oil & Gas | 6.125% Senior Notes due 2019 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Long-term Debt										60,000,000	251,000,000
Freeport-McMoRan Oil & Gas | 6.5% Senior Notes due 2020 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Long-term Debt										69,000,000	662,000,000
Freeport-McMoRan Oil & Gas | 6.625% Senior Notes due 2021 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Long-term Debt										35,000,000	281,000,000
Freeport-McMoRan Oil & Gas | 6.75% Senior Notes due 2022 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Long-term Debt										48,000,000	488,000,000
Freeport-McMoRan Oil & Gas | 6.875% Senior Notes due 2023 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Long-term Debt										55,000,000	857,000,000
Freeport McMoRan Corporation [Member] | 7.125% Debentures due 2027 [Member] | Debentures [Member]
Debt Instruments [Line Items]
Long-term Debt										115,000,000	115,000,000
Freeport McMoRan Corporation [Member] | 9.5% Senior Notes due 2031 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Long-term Debt										128,000,000	128,000,000
Freeport McMoRan Corporation [Member] | 6.125% Senior Notes due 2034 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Long-term Debt										$ 116,000,000	116,000,000
Plains Exploration & Production Company [Member] | 6.125% Senior Notes due 2019 [Member] | Senior Notes [Member]
Senior Notes Issued by FCX [Abstract]
Debt Instrument, Interest Rate, Stated Percentage										6.125%
Plains Exploration & Production Company [Member] | 6.5% Senior Notes due 2020 [Member] | Senior Notes [Member]
Senior Notes Issued by FCX [Abstract]
Debt Instrument, Interest Rate, Stated Percentage										6.50%
Plains Exploration & Production Company [Member] | 6.625% Senior Notes due 2021 [Member] | Senior Notes [Member]
Senior Notes Issued by FCX [Abstract]
Debt Instrument, Interest Rate, Stated Percentage										6.625%
Plains Exploration & Production Company [Member] | 6.75% Senior Notes due 2022 [Member] | Senior Notes [Member]
Senior Notes Issued by FCX [Abstract]
Debt Instrument, Interest Rate, Stated Percentage										6.75%
Plains Exploration & Production Company [Member] | 6.875% Senior Notes due 2023 [Member] | Senior Notes [Member]
Senior Notes Issued by FCX [Abstract]
Debt Instrument, Interest Rate, Stated Percentage										6.875%
Plains Exploration & Production Company [Member] | 7.625% Senior Notes due 2018 [Member] | Senior Notes [Member]
Senior Notes Issued by FCX [Abstract]
Debt Instrument, Interest Rate, Stated Percentage										7.625%
Plains Exploration & Production Company [Member] | 8.625% Senior Notes due 2019 [Member] | Senior Notes [Member]
Senior Notes Issued by FCX [Abstract]
Debt Instrument, Interest Rate, Stated Percentage										8.625%
Plains Exploration & Production Company [Member] | 7.625% Senior Notes due 2020 [Member] | Senior Notes [Member]
Senior Notes Issued by FCX [Abstract]
Debt Instrument, Interest Rate, Stated Percentage										7.625%
McMoRan Exploration Co [Member] | 11.875% Senior Notes due 2014 [Member] | Senior Notes [Member]
Senior Notes Issued by FCX [Abstract]
Debt Instrument, Interest Rate, Stated Percentage										11.875%
McMoRan Exploration Co [Member] | 4% Convertible Senior Notes due 2017 [Member] | Senior Notes [Member]
Senior Notes Issued by FCX [Abstract]
Debt Instrument, Interest Rate, Stated Percentage										4.00%
LIBOR Plus Spread [Member] | Cerro Verde | Shareholder Loan [Member]
Cerro Verde [Abstract]
Debt Instrument, Additional Rate, Above Basis Spread on Variable Rate										0.50%
Line of Credit [Member] | Line of Credit [Member]
Debt Instruments [Line Items]
Long-term Debt										$ 0	442,000,000
Line of Credit [Member] | Cerro Verde | Line of Credit [Member]
Debt Instruments [Line Items]
Long-term Debt										1,390,000,000	1,781,000,000
Revolving Credit Facility [Abstract]
Revolving Credit Facility, Maximum Borrowing Capacity										$ 1,800,000,000
Cerro Verde [Abstract]
Term of Debt Agreement										5 years
Debt Instrument, Interest Rate, Effective Percentage										2.67%
Number of Installment Payments under Installment Program | payment										4
Line of Credit [Member] | London Interbank Offered Rate (LIBOR) [Member] | Cerro Verde | Line of Credit [Member]
Revolving Credit Facility [Abstract]
Debt Instrument, Basis Spread on Variable Rate										1.90%
Letter of Credit [Member] | Line of Credit [Member]
Revolving Credit Facility [Abstract]
Long-term Line of Credit										$ 43,000,000
Revolving Credit Facility, Remaining Borrowing Capacity										1,500,000,000
Revolving Credit Facility [Member] | Line of Credit [Member]
Debt Instruments [Line Items]
Long-term Debt										0	0
Revolving Credit Facility [Abstract]
Revolving Credit Facility, Maximum Borrowing Capacity					$ 3,000,000,000					3,500,000,000						$ 4,000,000,000
Revolving Credit Facility, Remaining Borrowing Capacity										$ 3,500,000,000
Amount of revolving credit facility available to PT Freeport Indonesia														$ 500,000,000
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Line of Credit [Member]
Revolving Credit Facility [Abstract]
Debt Instrument, Basis Spread on Variable Rate										2.50%
Revolving Credit Facility [Member] | Base Rate [Member] | Line of Credit [Member]
Revolving Credit Facility [Abstract]
Debt Instrument, Basis Spread on Variable Rate										1.50%
Eliminations
Debt Instruments [Line Items]
Long-term debt										$ (15,081,000,000)	$ (12,433,000,000)
Exchanges and Early Extinguishment of Debt [Abstract]
Net gain (loss) on early extinguishment of debt										0		$ 0
Eliminations | Cerro Verde | Shareholder Loan [Member]
Senior Notes Issued by FCX [Abstract]
Proceeds from Issuance of Long-term Debt										$ 345,000,000
Scenario, Forecast [Member]
Exchanges and Early Extinguishment of Debt [Abstract]
Debt Instrument, Leverage Ratio								3.75	4.25
Scenario, Forecast [Member] | Line of Credit [Member] | Cerro Verde | Line of Credit [Member]
Debt Instruments [Line Items]
Line of Credit Facility, Current Borrowing Capacity, Percentage		70.00%	85.00%
Scenario, Forecast [Member] | Debt Instrument, Redemption, Period Three [Member] | Line of Credit [Member] | Cerro Verde | Cerro Verde Credit Facility [Member] | Line of Credit [Member]
Debt Instruments [Line Items]
Line of Credit Facility, Current Borrowing Capacity, Percentage	35.00%

OTHER LIABILITIES, INCLUDING 69

OTHER LIABILITIES, INCLUDING EMPLOYEE BENEFITS OTHER LIABILITEIS, INCLUDING EMPLOYEE BENEFIT (Components of Other Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Other Liabilities, Including Employee Benefits [Abstract]
Pension, postretirement, postemployment and other employment benefits	$ 1,345	$ 1,260
Provision for tax positions	167	152
Legal matters	77	77
Insurance claim reserves	51	59
Accrued oil and gas contract commitments	43	0
Other	62	93
Total other liabilities	$ 1,745	$ 1,641

OTHER LIABILITIES, INCLUDING 70

OTHER LIABILITIES, INCLUDING EMPLOYEE BENEFITS (Penion Plans) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)executive_officerIDR / $	Dec. 31, 2015IDR / $
Domestic Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Expected return on plan assets		7.00%
Estimated future average expected rate of return on passively managed pension assets		6.50%
Estimated future average expected premium on actively managed pension assets		0.50%
Domestic Pension Plan | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage of assets		46.00%
Domestic Pension Plan | Fixed Income Investments
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage of assets		43.00%
Domestic Pension Plan | Alternative Investments
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage of assets		11.00%
Foreign Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Expected return on plan assets		7.75%
Foreign currency exchange rate | IDR / $		13,369	13,726
SERP
Defined Benefit Plan Disclosure [Line Items]
SERP, Number of most senior executive officers | executive_officer		2
Years of service required for annuity to equal percentage of executive's highest average compensation for any consecutive three-year period during the preceeding five years before retirement		25 years
Lump sum payment to retired executive officer		$ 27
Scenario, Forecast [Member] | Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Estimated actuarial net loss (gain) in next fiscal year	$ 50

OTHER LIABILITIES, INCLUDING 71

OTHER LIABILITIES, INCLUDING EMPLOYEE BENEFITS (Schedule of Disclosures) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2016USD ($)IDR / $	Dec. 31, 2015USD ($)IDR / $	Dec. 31, 2014USD ($)
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets [Abstract]
Projected benefit obligation	$ 2,127	$ 2,139
Accumulated benefit obligation	2,014	2,037
Fair value of plan assets	1,312	1,399
Amounts recognized in other comprehensive loss (income) [Abstract]
Actuarial net loss (gain), net of tax	88	5	$ 166
Domestic Pension Plan
Change in benefit obligation:
Benefit obligation at beginning of year	2,104	2,179
Service cost	27	36	30
Interest cost	93	87	92
Actuarial losses (gains)	92	(118)
Foreign exchange (gains) losses	(4)	(2)
Special retirement benefits	0	22	0
Benefits paid	(177)	(100)
Benefits obligation at end of year	2,135	2,104	2,179
Change in plan assets:
Fair value of plan assets at beginning of year	1,379	1,416
Actual return on plan assets	88	(26)
Employer contributions	42	90
Foreign exchange (losses) gains	(3)	(1)
Benefits paid	(177)	(100)
Fair value of plan assets at end of year	1,329	1,379	$ 1,416
Funded status at end of year	(806)	(725)
Accumulated benefit obligation	$ 2,022	$ 2,001
Weighted-average assumptions used to determine benefit obligations [Abstract]
Discount rate	4.40%	4.60%
Rate of compensation increase	3.25%	3.25%
Balance sheet classification of funded status:
Other assets	$ 9	$ 8
Accounts payable and accrued liabilities	(4)	(35)
Other liabilities	(811)	(698)
Total	(806)	$ (725)
Estimated future employer contributions in next fiscal year	$ 140
Weighted-average assumptions used to determine benefit obligations [Abstract]
Discount rate	4.60%	4.10%	5.00%
Expected return on plan assets	7.25%	7.25%	7.50%
Rate of compensation increase	3.25%	3.25%	3.75%
Components of net periodic benefit (income) cost and other amounts recognized in other comprehensive income [Abstract]
Service cost	$ 27	$ 36	$ 30
Interest cost	93	87	92
Expected return on plan assets	(96)	(102)	(98)
Amortization of prior service credit	0	0	(1)
Amortization of net actuarial losses	42	45	28
Special retirement benefits	0	22	0
Net periodic benefit cost	66	88	51
Foreign Pension Plan
Change in benefit obligation:
Benefit obligation at beginning of year	318	318
Service cost	27	26	22
Interest cost	29	23	23
Actuarial losses (gains)	2	(7)
Foreign exchange (gains) losses	8	(32)
Special retirement benefits	0	0
Benefits paid	(10)	(10)
Benefits obligation at end of year	374	318	318
Change in plan assets:
Fair value of plan assets at beginning of year	204	185
Actual return on plan assets	47	6
Employer contributions	38	42
Foreign exchange (losses) gains	5	(19)
Benefits paid	(10)	(10)
Fair value of plan assets at end of year	284	204	$ 185
Funded status at end of year	(90)	(114)
Accumulated benefit obligation	$ 225	$ 175
Weighted-average assumptions used to determine benefit obligations [Abstract]
Discount rate	8.25%	9.00%
Rate of compensation increase	8.00%	9.40%
Balance sheet classification of funded status:
Other assets	$ 0	$ 0
Accounts payable and accrued liabilities	0	0
Other liabilities	(90)	(114)
Total	(90)	$ (114)
Estimated future employer contributions in next fiscal year	$ 32
Foreign currency exchange rate | IDR / $	13,369	13,726
Weighted-average assumptions used to determine benefit obligations [Abstract]
Discount rate	9.00%	8.25%	9.00%
Expected return on plan assets	7.75%	7.75%	7.75%
Rate of compensation increase	9.40%	9.00%	9.00%
Components of net periodic benefit (income) cost and other amounts recognized in other comprehensive income [Abstract]
Service cost	$ 27	$ 26	$ 22
Interest cost	29	23	23
Expected return on plan assets	(17)	(14)	(10)
Amortization of prior service credit	3	3	3
Amortization of net actuarial losses	5	6	8
Special retirement benefits	0	0
Net periodic benefit cost	47	44	$ 46
Pension Plan
Amounts recognized in other comprehensive loss (income) [Abstract]
Prior service (credit), Before Taxes	21	23
Actuarial net loss (gain), Before Taxes	722	697
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Tax	743	720
Prior service (credit) cost, net of tax	11	12
Actuarial net loss (gain), net of tax	466	426
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax	$ 477	$ 438

OTHER LIABILITIES, INCLUDING 72

OTHER LIABILITIES, INCLUDING EMPLOYEE BENEFITS (Schedule of FV of Financial Assets for Pension Plans) (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Foreign Pension Plan
Fair value of plan assets measurement [Line items]
Total pension plan net assets	$ 284	$ 204	$ 185
Foreign Pension Plan | Total investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	166	96
Foreign Pension Plan | Common Stock
Fair value of plan assets measurement [Line items]
Total pension plan net assets	72	43
Foreign Pension Plan | Government bonds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	78	41
Foreign Pension Plan | Mutual funds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	16	12
Foreign Pension Plan | Cash and receivables
Fair value of plan assets measurement [Line items]
Total pension plan net assets	119	108
Foreign Pension Plan | Level 1 | Total investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	166	96
Foreign Pension Plan | Level 1 | Common Stock
Fair value of plan assets measurement [Line items]
Total pension plan net assets	72	43
Foreign Pension Plan | Level 1 | Government bonds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	78	41
Foreign Pension Plan | Level 1 | Mutual funds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	16	12
Foreign Pension Plan | Level 2 | Total investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Foreign Pension Plan | Level 2 | Common Stock
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Foreign Pension Plan | Level 2 | Government bonds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Foreign Pension Plan | Level 2 | Mutual funds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Foreign Pension Plan | Level 3 | Total investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Foreign Pension Plan | Level 3 | Common Stock
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Foreign Pension Plan | Level 3 | Government bonds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Foreign Pension Plan | Level 3 | Mutual funds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Pension Plan
Fair value of plan assets measurement [Line items]
Total pension plan net assets	1,329	1,379	$ 1,416
Domestic Pension Plan | Global equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	420	399
NAV	420	399
Domestic Pension Plan | Fixed income securities
Fair value of plan assets measurement [Line items]
Total pension plan net assets	129	129
NAV	129	129
Domestic Pension Plan | Global fixed income securities
Fair value of plan assets measurement [Line items]
Total pension plan net assets	107	101
NAV	107	101
Domestic Pension Plan | Real estate property
Fair value of plan assets measurement [Line items]
Total pension plan net assets	72	66
NAV	72	66
Domestic Pension Plan | Emerging markets equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	66	60
NAV	66	60
Domestic Pension Plan | U.S. small-cap equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	60	56
NAV	60	56
Domestic Pension Plan | International small-cap equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	51	56
NAV	51	56
Domestic Pension Plan | U.S. real estate securities
Fair value of plan assets measurement [Line items]
Total pension plan net assets	42	55
NAV	42	55
Domestic Pension Plan | Short-term investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	17	25
NAV	17	25
Domestic Pension Plan | Government bonds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	160	215
NAV	0	0
Domestic Pension Plan | Corporate bonds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	141	145
NAV	0	0
Domestic Pension Plan | Private equity investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	25	31
NAV	25	31
Domestic Pension Plan | Other investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	36	39
NAV	0	0
Domestic Pension Plan | Total investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	1,326	1,377
NAV	989	978
Domestic Pension Plan | Cash and receivables
Fair value of plan assets measurement [Line items]
Total pension plan net assets	4	6
Domestic Pension Plan | Payables
Fair value of plan assets measurement [Line items]
Total pension plan net assets	(1)	(4)
Domestic Pension Plan | Level 1 | Global equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Pension Plan | Level 1 | Fixed income securities
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Pension Plan | Level 1 | Global fixed income securities
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Pension Plan | Level 1 | Real estate property
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Pension Plan | Level 1 | Emerging markets equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Pension Plan | Level 1 | U.S. small-cap equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Pension Plan | Level 1 | International small-cap equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Pension Plan | Level 1 | U.S. real estate securities
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Pension Plan | Level 1 | Short-term investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Pension Plan | Level 1 | Government bonds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Pension Plan | Level 1 | Corporate bonds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Pension Plan | Level 1 | Private equity investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Pension Plan | Level 1 | Other investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	1	1
Domestic Pension Plan | Level 1 | Total investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	1	1
Domestic Pension Plan | Level 2 | Global equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Pension Plan | Level 2 | Fixed income securities
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Pension Plan | Level 2 | Global fixed income securities
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Pension Plan | Level 2 | Real estate property
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Pension Plan | Level 2 | Emerging markets equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Pension Plan | Level 2 | U.S. small-cap equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Pension Plan | Level 2 | International small-cap equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Pension Plan | Level 2 | U.S. real estate securities
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Pension Plan | Level 2 | Short-term investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Pension Plan | Level 2 | Government bonds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	160	215
Domestic Pension Plan | Level 2 | Corporate bonds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	141	145
Domestic Pension Plan | Level 2 | Private equity investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Pension Plan | Level 2 | Other investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	35	38
Domestic Pension Plan | Level 2 | Total investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	336	398
Domestic Pension Plan | Level 3 | Global equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Pension Plan | Level 3 | Fixed income securities
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Pension Plan | Level 3 | Global fixed income securities
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Pension Plan | Level 3 | Real estate property
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Pension Plan | Level 3 | Emerging markets equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Pension Plan | Level 3 | U.S. small-cap equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Pension Plan | Level 3 | International small-cap equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Pension Plan | Level 3 | U.S. real estate securities
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Pension Plan | Level 3 | Short-term investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Pension Plan | Level 3 | Government bonds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Pension Plan | Level 3 | Corporate bonds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Pension Plan | Level 3 | Private equity investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Pension Plan | Level 3 | Other investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Pension Plan | Level 3 | Total investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	$ 0	$ 0

OTHER LIABILITIES, INCLUDING 73

OTHER LIABILITIES, INCLUDING EMPLOYEE BENEFITS (Expected Benefit Payments) (Details) $ in Millions	Dec. 31, 2016USD ($)
Domestic Pension Plan
Defined Benefit Plan Disclosure [Line Items]
2,017	$ 109
2,018	146
2,019	113
2,020	115
2,021	117
2022 through 2026	623
Foreign Pension Plan
Defined Benefit Plan Disclosure [Line Items]
2,017	29
2,018	16
2,019	30
2,020	38
2,021	40
2022 through 2026	$ 292

OTHER LIABILITIES, INCLUDING 74

OTHER LIABILITIES, INCLUDING EMPLOYEE BENEFITS (Postretirement and Other Benefits) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Selling, general and administrative expenses	$ 607	$ 558	$ 580
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract]
Duration over which health care costs reach ultimate trend rate	15 years
Postretirement Medical and Life Insurance Benefit Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Accounts payable and accrued liabilities	$ 16	15
Other non-current liabilities	$ 138	$ 144
Discount rate	3.80%	4.10%
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract]
2,017	$ 16
2,018	15
2,019	15
2,020	14
2,021	13
2022 through 2026	55
Net periodic benefit cost	$ 4	$ 6	$ 7
Discount rate	4.10%	3.60%	4.30%
Health care cost trend rates for the next fiscal year	8.00%
Ultimate health care cost trend rate	4.25%
Postemployment Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Accounts payable and accrued liabilities	$ 5	$ 4
Other non-current liabilities	$ 34	30
Selling, general and administrative expenses		$ 16

OTHER LIABILITIES, INCLUDING 75

OTHER LIABILITIES, INCLUDING EMPLOYEE BENEFITS (Defined Contribution Plan) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Defined Contribution Plan Disclosure [Line Items]
Liabilities	$ 28,060	$ 33,769
Accounts payable and accrued liabilities	2,393	3,232
Other liabilities	1,745	1,641
Costs charged to operations for employee savings plans and defined contribution plans	78	98	$ 79
Costs capitalized to oil and gas properties for employee savings plans and defined benefit contribution plans	4	13	$ 11
401K Plan
Defined Contribution Plan Disclosure [Line Items]
Liabilities	$ 47	78
Accounts payable and accrued liabilities		35
Other liabilities		$ 43

OTHER LIABILITIES, INCLUDING 76

OTHER LIABILITIES, INCLUDING EMPLOYEE BENEFITS (Restructuring Charges) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 45
Special Termination Benefits
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 22
Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 85
Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 6

STOCKHOLDERS' EQUITY AND STOC77

STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION (Common Stock) (Details) - USD ($) $ / shares in Units, $ in Millions	Jan. 05, 2016	Aug. 04, 2015	Feb. 29, 2012	Jun. 30, 2016	Mar. 31, 2015	Nov. 23, 2016	Aug. 04, 2016	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 30, 2016
Class of Stock [Line Items]
Authorized shares of capital stock										3,050,000,000
Authorized shares of common stock										3,000,000,000
Authorized shares of preferred stock										50,000,000
Issuance of common stock								$ 1,000		$ 2,366	$ 1,936
Proceeds from sale of common stock										$ 1,515	$ 1,936	$ 0
Debt Instrument, Face Amount													$ 2,342
Common Stock, Dividends, Per Share, Cash Paid		$ 0.1105
Dividends declared per share of common stock (in dollars per share)			$ 1.25		$ 0.20					$ 0	$ 0.2605	$ 1.25
Common stocks
Class of Stock [Line Items]
Issuance of common stock				$ 540		$ 1,500	$ 311		$ 1,000	$ 20	$ 20
Stock Issued During Period, Shares, New Issues	4,300,000			48,100,000		116,500,000	27,700,000			197,000,000	205,700,000
Shares Issued, Price Per Share						$ 12.87		$ 9.53			$ 9.53
Proceeds from sale of common stock	$ 29					$ 1,500					$ 1,960
Proceeds From Issuance Of Common Stock Net						1,480					1,940
Payments of Stock Issuance Costs	$ 0.3			$ 5		$ 15					$ 20
Debt Instrument, Face Amount							$ 369

STOCKHOLDERS' EQUITY AND STOC78

STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION (Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance, stockholders' equity	$ 7,828
Ending balance, stockholders' equity	6,051	$ 7,828
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss), Net Actuarial Gain (Loss), before Tax	(79)	(7)	$ (252)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance, stockholders' equity	(507)	(548)	(410)
OCI, before Reclassifications, Net of Tax, Attributable to Parent	(91)	3	(162)
Other Comprehensive Income (Loss), Reclassification, Pension and Other Postretirement Benefit Plans, Net Gain (Loss) Recognized in Net Periodic Benefit Cost, Net of Tax	44	38	24
Ending balance, stockholders' equity	(554)	(507)	(548)
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance, stockholders' equity	(6)	(6)	(5)
OCI, before Reclassifications, Net of Tax, Attributable to Parent	2	0	(1)
Other Comprehensive Income (Loss), Reclassification, Pension and Other Postretirement Benefit Plans, Net Gain (Loss) Recognized in Net Periodic Benefit Cost, Net of Tax	0	0	0
Ending balance, stockholders' equity	(4)	(6)	(6)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance, stockholders' equity	10	10	10
OCI, before Reclassifications, Net of Tax, Attributable to Parent	0	0	0
Other Comprehensive Income (Loss), Reclassification, Pension and Other Postretirement Benefit Plans, Net Gain (Loss) Recognized in Net Periodic Benefit Cost, Net of Tax	0	0	0
Ending balance, stockholders' equity	10	10	10
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance, stockholders' equity	(503)	(544)	(405)
OCI, before Reclassifications, Net of Tax, Attributable to Parent	(89)	3	(163)
Other Comprehensive Income (Loss), Reclassification, Pension and Other Postretirement Benefit Plans, Net Gain (Loss) Recognized in Net Periodic Benefit Cost, Net of Tax	44	38	24
Ending balance, stockholders' equity	(548)	(503)	(544)
Accumulated Defined Benefit Plans Adjustment Attributable to Noncontrolling Interest [Member]
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent	11	(2)	(89)
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other Comprehensive Income (Loss), Reclassification, Pension and Other Postretirement Benefit Plans, Net Gain (Loss) Recognized in Net Periodic Benefit Cost, Net of Tax	$ (4)	$ (16)	$ (14)

STOCKHOLDERS' EQUITY AND STOC79

STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION (Details) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common shares available for issuance under each of the stock award plans	72
Number of shares available for grant	71.9
Capitalized costs	$ 4	$ 11	$ 23
Total stock-based compensation	89	95	128
Tax benefit of compensation costs	(3)	(31)	(41)
Impact on net income	82	53	64
Selling, General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	69	67	79
Cost of Sales
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 16	$ 17	$ 26

STOCKHOLDERS' EQUITY AND STOC80

STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION (Stock Option and SARs) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Balance at beginning of period (in number of options/units)	49,303,879
Granted (in number of options/units)	7,167,000
Exercised (in number of options/units)	(14,750)
Expired/Forfeited (in number of options/units)	(2,661,894)
Balance at end of period (in number of options/units)	53,794,235	49,303,879
Weighted-average exercise price at beginning of period (in dollars per option)	$ 34.10
Granted, Exercise Price (in dollars per option)	4.35
Exercised, Exercise Price (in dollars per option)	12.12
Expired/Forfeited, Exercise Price (in dollars per option)	31.80
Weighted-average exercise price at end of period (in dollars per option)	$ 30.25	$ 34.10
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	4 years 7 months
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	$ 66
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	44,314,195
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$ 34.20
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	3 years 9 months
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	$ 14
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	10 years
Annual vesting percentage	25.00%
Total unrecognized compensation cost related to unvested options expected to be recognized over a weighted-average period	$ 19
Weighted-average period used in calculating unrecognized compensation cost, stock options (in years)	1 year 11 months
Fair value assumptions and methodology [Abstract]
Weighted-average expected volatility	71.60%	37.90%	36.60%
Expected life of options (in years)	5 years 4 months 3 days	5 years 2 months 1 day	4 years 11 months 1 day
Expected dividend rate	0.00%	4.50%	3.50%
Risk free interest rate	1.30%	1.70%	1.70%
Weighted-average grant-date fair value (in dollars per option)	$ 2.64	$ 4.30	$ 7.43
Total intrinsic value of options exercised	$ 0	$ 1	$ 17
Fair value of options vested	$ 43	$ 50	$ 76
Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	5 years
Annual vesting percentage			33.00%
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Balance at end of period (in number of options/units)	1,034,153

STOCKHOLDERS' EQUITY AND STOC81

STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION (Equity RSUs and PSUs) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent Addition or Reduction In Restricted Stock Units If Performance Is Below Level Defined In Agreement	25.00%
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Granted in period (number of RSUs and PSUs)	1,500,000	755,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures			344,000
Performance Shares [Member] | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Performance Share Unit Payout	175.00%	200.00%
Performance Shares [Member] | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Share Unit Payout	0.00%	0.00%
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		3 years
Restricted Stock Units (RSUs) and Performance Share Units (PSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Balance at beginning of period (in number of RSUs and PSUs)	7,220,300
Granted in period (number of RSUs and PSUs)	3,557,366
Vested in Period (number of RSUs and PSUs)	(3,042,860)
Forfeited in Period (number of RSUs and PSUs)	(516,579)
Balance at end of period (in number of RSUs and PSUs)	7,218,227	7,220,300
Beginning Balance - weighted average grant date fair value	$ 27.12
Granted - Weighted average grant date fair value	10.46
Vested - weighted average grant date fair value	28.81
Forfeited - weighted average grant date fair value	25.91
Ending balance - weighted average grant date fair value	$ 18.08	$ 27.12
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding	$ 95
Fair value of RSUs and PSUs granted	37	$ 46	$ 67
Intrinsic value of RSUs and PSUs vested	22	$ 22	$ 15
Total unrecognized compensation cost related to unvested RSUs and PSUs expected to be recognized over a weighted-average period	$ 15
Weighted-average period used in calculating unrecognized compensation cost, RSUs and PSUs (in years)	1 year 11 months
Outside Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	1 year
Outside Directors [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		4 years
Share Based Compensation Award Tranches Two and Three [Member] | Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Granted in period (number of RSUs and PSUs)	993,000

STOCKHOLDERS' EQUITY AND STOC82

STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION (Cash-settled RSUs and PSUs) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Accounts Payable and Accrued Liabilities, Current	$ 2,393	$ 3,232
Cash settled Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Cash Settled Performance Stock Units (PSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Granted in period (number of RSUs and PSUs)		582,000
Cash Settled Performance Stock Units (PSUs) [Member] | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Share Unit Payout		50.00%
Cash Settled Performance Stock Units (PSUs) [Member] | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Share Unit Payout		200.00%
Cash Settled Restricted Stock Units (RSUs) and Performance Share Units (PSU's) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Balance at beginning of period (in number of RSUs and PSUs)	4,612,536
Granted in period (number of RSUs and PSUs)	676,000
Vested in Period (number of RSUs and PSUs)	(2,148,558)
Forfeited in Period (number of RSUs and PSUs)	(608,234)
Balance at end of period (in number of RSUs and PSUs)	2,531,744	4,612,536
Beginning Balance - weighted average grant date fair value	$ 24.89
Granted - Weighted average grant date fair value	6.05
Vested - weighted average grant date fair value	25.83
Forfeited - weighted average grant date fair value	23.92
Ending balance - weighted average grant date fair value	$ 19.30	$ 24.89
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding	$ 33
Fair value of RSUs and PSUs granted	4	$ 44	$ 68
Intrinsic value of RSUs and PSUs vested	15	24
Other Liabilities	4	8
Accounts Payable and Accrued Liabilities, Current	$ 23	$ 10
Cash Settled Restricted Stock Units (RSUs) and Performance Share Units (PSU's) [Member] | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Cash Settled Restricted Stock Units (RSUs) and Performance Share Units (PSU's) [Member] | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	5 years

STOCKHOLDERS' EQUITY AND STOC83

STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION (Other info) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Shares Paid for Tax Withholding for Share Based Compensation	906,120	349,122	474,480
Proceeds from Stock Options Exercised	$ 0	$ 3	$ 12
Employee Service Share-based Compensation, Tax Benefit Realized from Exercise of Stock Options	0	11	16
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Share-based Liabilities Paid	$ 6	$ 7	$ 8

INCOME TAXES (Income before Inc

INCOME TAXES (Income before Income taxes and equity in affiliated companies' net earnings) (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
U.S.		$ (5,179)	$ (14,589)	$ (2,973)
Foreign	$ 5,300	1,707	461	2,173
Loss from continuing operations before income taxes and equity in affiliated companies' net earnings (losses)		$ (3,472)	$ (14,128)	$ (800)

INCOME TAXES (Provision for (be

INCOME TAXES (Provision for (benefit from) income taxes) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Current Income Tax Expense (Benefit), Continuing Operations [Abstract]
Federal	$ (164)	$ (89)	$ 269
State	(17)	(2)	34
Foreign	352	160	1,066
Total current	171	69	1,369
Deferred income taxes:
Federal	(137)	(3,403)	(616)
State	(41)	(154)	(214)
Foreign	451	163	19
Total deferred	273	(3,394)	(811)
Adjustments	(13)	1,374	0
Operating loss carryforwards	(60)	0	(333)
(Provision for) benefit from income taxes	371	(1,951)	$ 225
Net provision associated with an increase in the beginning of the year valuation allowance	$ 1,900	1,200
PT-FI
Deferred income taxes:
Adjustments		$ 200

INCOME TAXES (Reconciliation of

INCOME TAXES (Reconciliation of U.S. federal statutory rate to effective tax rate) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Amount
U.S. federal statutory tax rate	$ 1,215	$ 4,945	$ 280
Valuation allowance, net	(1,680)	(2,955)	0
Foreign tax credit limitation	(598)	(228)	(136)
Percentage depletion	211	186	263
Withholding and other impacts on foreign earnings	(93)	(193)	(161)
Effect of foreign rates different than the U.S. federal statutory rate	45	12	69
Goodwill impairment	0	0	(601)
Goodwill transferred to full cost pool	0	0	(77)
State income taxes	46	105	116
Other items, net	(37)	79	22
(Provision for) benefit from income taxes	$ (371)	$ 1,951	$ (225)
Percent
U.S. federal statutory tax rate	(35.00%)	(35.00%)	(35.00%)
Valuation allowance, net	48.00%	21.00%	(0.00%)
Foreign tax credit limitation	17.00%	2.00%	17.00%
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Restructuring Charges, Amount	$ (520)	$ 0	$ 0
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Restructuring Charges, Percent	15.00%	0.00%	0.00%
Percentage depletion	(6.00%)	(1.00%)	(33.00%)
Withholding and other impacts on foreign earnings	3.00%	1.00%	20.00%
Effect of foreign rates different than the U.S. federal statutory rate	(1.00%)	(0.00%)	(9.00%)
Goodwill impairment	(0.00%)	(0.00%)	75.00%
Goodwill transferred to full cost pool	(0.00%)	(0.00%)	10.00%
State income taxes	(1.00%)	(1.00%)	(14.00%)
Other items, net	1.00%	(1.00%)	(3.00%)
(Provision for) benefit from income taxes	11.00%	(14.00%)	28.00%
Valuation allowances	$ 6,058	$ 4,183
Impairment To Oil And Gas Properties
Percent
Valuation allowances	1,600	$ 3,300
Candelaria and Ojos del Salado Mining Complex
Percent
Adjustment from sale of Candelaria and Ojos del Salado mines			$ 221
Domestic Tax Authority
Percent
Valuation allowances	$ 574
Other nondeductible expense			(16)
Chili - Service of Internal Taxes | Foreign Tax Authority
Percent
U.S. federal statutory tax rate	(35.00%)
Other nondeductible expense			54
SUNAT | Foreign Tax Authority
Amount
Other items, net	$ 13
Percent
Other nondeductible expense			$ 24

INCOME TAXES (Components of def

INCOME TAXES (Components of deferred tax assets and liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Deferred tax assets:
Foreign tax credits	$ 2,094	$ 1,552
Accrued expenses	923	1,167
Oil and gas properties	346	1,422
Minimum tax credits	444	569
Net operating loss carryforwards	2,898	621
Employee benefit plans	403	442
Other	485	478
Deferred tax assets	7,593	6,251
Valuation allowances	(6,058)	(4,183)
Net deferred tax assets	1,535	2,068
Deferred tax liabilities:
Property, plant, equipment and mine development costs	4,326	4,765
Undistributed earnings	(779)	(852)
Other	(195)	(55)
Total deferred tax liabilities	(5,300)	(5,672)
Net deferred tax liabilities	$ (3,765)	$ (3,604)

INCOME TAXES (Reserve for unrec

INCOME TAXES (Reserve for unrecognized tax benefits, interest and penalties) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Unrecognized Tax Benefits, Income Tax Penalties Expense	$ 0
Reconciliation of Unrecognized Tax Benefits [Roll Forward]
Balance at beginning of year	110,000,000	$ 104,000,000	$ 110,000,000
Additions:
Prior year tax positions	5,000,000	7,000,000	4,000,000
Current year tax positions	28,000,000	11,000,000	11,000,000
Decreases:
Prior year tax positions	(3,000,000)	(6,000,000)	(12,000,000)
Settlements with taxing authorities	0	0	(9,000,000)
Lapse of statute of limitations	(39,000,000)	(6,000,000)	0
Balance at end of year	$ 101,000,000	$ 110,000,000	$ 104,000,000

INCOME TAXES (Narrative) (Detai

INCOME TAXES (Narrative) (Details) - USD ($) $ in Millions	Jan. 01, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule Of Income Taxes [Line Items]
Total income taxes paid to all jurisdictions		$ 203	$ 893	$ 1,500
Tax refunds received from all jurisdictions		247	334	$ 257
Foreign tax credits		2,094	1,552
Minimum tax credits		444	569
Valuation allowances		6,058	4,183
Tax Credit Carryforward, Amount		72
Net provision associated with an increase in the beginning of the year valuation allowance		$ (1,900)	$ (1,200)
U.S. federal statutory tax rate		35.00%	35.00%	35.00%
Interest on income taxes accrued		$ 19	$ 16	$ 15
Unrecognized tax benefits		101	110	104	$ 110
Unrecognized tax benefits that would impact the effective tax rate		95
Unrecognized tax benefits that would impact the effective tax rate, net of tax benefits		68
Valuation allowance for operating loss carryforwards
Schedule Of Income Taxes [Line Items]
Valuation allowances		2,900
Foreign Tax Credits
Schedule Of Income Taxes [Line Items]
Valuation allowances		2,100
Impairment To Oil And Gas Properties
Schedule Of Income Taxes [Line Items]
Valuation allowances		1,600	3,300
Net provision associated with an increase in the beginning of the year valuation allowance		(1,600)
Discontinued Operations
Schedule Of Income Taxes [Line Items]
Total income taxes paid to all jurisdictions		$ 27	$ 187	$ 11
SUNAT | Cerro Verde
Schedule Of Income Taxes [Line Items]
Foreign income tax rate under new stability agreement		32.00%
Foreign Tax Authority
Schedule Of Income Taxes [Line Items]
Foreign tax credits		$ 1,900
Foreign Tax Authority | Chili - Service of Internal Taxes
Schedule Of Income Taxes [Line Items]
U.S. federal statutory tax rate		35.00%
Foreign Tax Authority | Chili - Service of Internal Taxes | Tax Years 2013 to 2017
Schedule Of Income Taxes [Line Items]
Mining royalty tax rate		4.00%
Foreign Tax Authority | Chili - Service of Internal Taxes | Tax Years 2018 to 2023 | Minimum
Schedule Of Income Taxes [Line Items]
Mining royalty tax rate		5.00%
Foreign Tax Authority | Chili - Service of Internal Taxes | Tax Years 2018 to 2023 | Maximum
Schedule Of Income Taxes [Line Items]
Mining royalty tax rate		14.00%
Foreign Tax Authority | Chili - Service of Internal Taxes | 2020 and thereafter
Schedule Of Income Taxes [Line Items]
U.S. federal statutory tax rate		44.50%
Foreign Tax Authority | SUNAT | 2014
Schedule Of Income Taxes [Line Items]
U.S. federal statutory tax rate		30.00%
Dividend tax rate		4.10%
Foreign Tax Authority | SUNAT | 2019 and thereafter
Schedule Of Income Taxes [Line Items]
U.S. federal statutory tax rate		26.00%
Dividend tax rate		9.30%
Foreign Tax Authority | SUNAT | Tax Year 2017 [Member]
Schedule Of Income Taxes [Line Items]
Dividend tax rate	5.00%
Corporate Income Tax Rate	29.50%
Domestic Tax Authority
Schedule Of Income Taxes [Line Items]
Valuation allowances		$ 574
Domestic Tax Authority | Minimum Tax Credit Carryforwards
Schedule Of Income Taxes [Line Items]
Valuation allowances		$ 371

INCOME TAXES INCOME TAXES (Oper

INCOME TAXES INCOME TAXES (Operating Loss Carryforwards) (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Operating Loss Carryforwards [Line Items]
Foreign tax credits	$ 2,094	$ 2,094	$ 1,552
Foreign	5,300	1,707	461	$ 2,173
U.S.		(5,179)	$ (14,589)	$ (2,973)
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	10,000	10,000
Federal Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	6,600	6,600
Deferred Tax Assets, Capital Loss Carryforwards	119	119
U.S.	5,300	5,300
Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	518	518
Foreign tax credits	$ 1,900	$ 1,900

CONTINGENCIES (Environmental Ob

CONTINGENCIES (Environmental Obligations) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2016USD ($)stateproject	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Site Contingency [Line Items]
Number of remediation projects | project	100
Number of US States with remediation projects | state	26
Accrual for Environmental Loss Contingencies [Roll Forward]
Balance at beginning of year	$ 1,215	$ 1,174	$ 1,167
Accretion Expense	81	78	77
Additions	26	33	16
Reductions	(43)	(3)	(6)
Spending	(58)	(67)	(80)
Balance at end of year	1,221	1,215	1,174
Less current portion	(129)	(100)	(105)
Long-term portion	1,092	$ 1,115	$ 1,069
Estimated environmental cash payments (on an undiscounted and unescalated basis) [Abstract]
2,017	129
2,018	108
2,019	90
2,020	95
2,021	103
Thereafter	1,800
Estimated environmental obligations on a discounted basis	1,100
Estimated environmental obligations on an undiscounted and unescalated	$ 2,300
Number of environmental remediation sites evaluated, percent	50.00%
Minimum
Estimated environmental cash payments (on an undiscounted and unescalated basis) [Abstract]
Estimated environmental obligations on an undiscounted and unescalated	$ 2,100
Maximum
Estimated environmental cash payments (on an undiscounted and unescalated basis) [Abstract]
Estimated environmental obligations on an undiscounted and unescalated	2,600
Pinal Creek, AZ; Newtown Creek, NY; Smelter Sites in Arizona, Kansas, New Jersey, Oklahoma, Pennsylvania; and Uranium Mining in Wester United States
Accrual for Environmental Loss Contingencies [Roll Forward]
Balance at end of year	$ 1,100

CONTINGENCIES (Asset Retirement

CONTINGENCIES (Asset Retirement Obligations) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Balance at beginning of year	$ 2,771	$ 2,744	$ 2,316
Liabilities incurred	12	97	429
Settlements and revisions to cash flow estimates, net	529	(66)	56
Accretion expense	137	131	116
Dispositions	(626)	0	(61)
Spending	(188)	(132)	(101)
Other	0	(3)	(11)
Balance at end of year	2,635	2,771	2,744
Less current portion	(240)	(172)	(189)
Long-term portion	$ 2,395	$ 2,599	$ 2,555

CONTINGENCIES (Financial Assura

CONTINGENCIES (Financial Assurances) (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
New Mexico, Arizona, Colorado and Other States
Guarantor Obligations [Line Items]
Environmental costs associated with closure and reclamation/restoration costs	$ 1,100
Guarantee | New Mexico, Arizona, Colorado and Other States
Guarantor Obligations [Line Items]
Environmental costs associated with closure and reclamation/restoration costs	687
Freeport-McMoRan Oil & Gas
Guarantor Obligations [Line Items]
Guarantor obligations, carrying value	704
NEW MEXICO
Guarantor Obligations [Line Items]
Legally restricted funds for asset retirement obligations at New Mexico mines	$ 173	$ 169

CONTINGENCIES (Environmental an

CONTINGENCIES (Environmental and Reclamation Programs) (Details) $ in Millions	Jan. 31, 2017USD ($)divisions	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Site Contingency [Line Items]
ARO, change in estimate		$ 529	$ (66)	$ 56
New Mexico Environmental And Reclamation Programs
Site Contingency [Line Items]
Accrued reclamation and closure costs		471
Arizona Environmental And Reclamation Programs
Site Contingency [Line Items]
Accrued reclamation and closure costs		316
Colorado Environmental And Reclamation Programs
Site Contingency [Line Items]
Accrued reclamation and closure costs		66
El Abra
Site Contingency [Line Items]
Accrued reclamation and closure costs		55
Cerro Verde
Site Contingency [Line Items]
Accrued reclamation and closure costs		114
Pt Freeport Indonesia Environmental And Reclamation Programs
Site Contingency [Line Items]
Accrued reclamation and closure costs		$ 998
Estimated years the mining activities are expected to continue		25 years
ARO, change in estimate		$ 372		$ 403
Current cash balance of reclamation fund		$ 22
Subsequent Event [Member]
Site Contingency [Line Items]
Environmental Loss Contingency, Number of Uranium Sites on Tribal Lands | divisions	94
Value of Consent Decree, Uranium Mines on Tribal Lands	$ 600
Remediation work related to Uranium mines, amount to be contributed by the U.S. Government	$ 335
Uranium mine remediation work, program term, in years	20 years

CONTINGENCIES (Oil and Gas Prop

CONTINGENCIES (Oil and Gas Properties) (Details) $ in Millions	Dec. 31, 2016USD ($)platformwell	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Loss Contingencies [Line Items]
ARO, noncurrent	$ 2,635	$ 2,771	$ 2,744	$ 2,316
Freeport-McMoRan Oil & Gas
Loss Contingencies [Line Items]
Number of productive oil wells | well	600
Number of platforms and other structures | platform	134
ARO, noncurrent	$ 589

CONTINGENCIES (Tax and Other Ma

CONTINGENCIES (Tax and Other Matters) (Details) $ in Millions	3 Months Ended	12 Months Ended			36 Months Ended
	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)payment	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2016USD ($)	Sep. 30, 2016USD ($)	Mar. 31, 2016USD ($)
Income Tax Examination [Line Items]
Proceeds from Income Tax Refunds		$ 247	$ 334	$ 257
Income Taxes Receivable, Noncurrent		129	261		$ 129
PT-FI
Income Tax Examination [Line Items]
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority							$ 196
Income Taxes Paid, Net		355
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued [Abstract]
Total							196
Value Added Tax Receivable				269
PT-FI | Other Liabilities [Member]
Income Tax Examination [Line Items]
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority							38
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued [Abstract]
Total							$ 38
SUNAT | Cerro Verde
Income Tax Examination [Line Items]
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority		(480)			(480)
Income Taxes Receivable		181			181
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued [Abstract]
Tax Assessment		200			200
Penalty and Interest Assessment		280			280
Total		$ (480)			$ (480)
SUNAT | Minimum | Cerro Verde
Income Tax Examination [Line Items]
Penalty and interest accrual rate, percent		7.00%			7.00%
SUNAT | Maximum | Cerro Verde
Income Tax Examination [Line Items]
Penalty and interest accrual rate, percent		18.00%			18.00%
Indonesian Tax Authority | PT-FI
Income Tax Examination [Line Items]
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority		$ (799)			$ (799)
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued [Abstract]
Tax Assessment		631			631
Interest Assessment		168			168
Total		(799)			(799)
2002 to 2005 | SUNAT | Cerro Verde
Income Tax Examination [Line Items]
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority		(67)			(67)
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued [Abstract]
Tax Assessment		16			16
Penalty and Interest Assessment		51			51
Total		(67)			(67)
2005 | Indonesian Tax Authority | PT-FI
Income Tax Examination [Line Items]
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority		(152)			(152)
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued [Abstract]
Tax Assessment		103			103
Interest Assessment		49			49
Total		(152)			(152)
2006 | SUNAT | Cerro Verde
Income Tax Examination [Line Items]
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority		(56)			(56)
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued [Abstract]
Tax Assessment		7			7
Penalty and Interest Assessment		49			49
Total		(56)			(56)
2006 | Indonesian Tax Authority | PT-FI
Income Tax Examination [Line Items]
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority		(32)			(32)
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued [Abstract]
Tax Assessment		22			22
Interest Assessment		10			10
Total		(32)			(32)
2007 | SUNAT | Cerro Verde
Income Tax Examination [Line Items]
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority		(30)			(30)
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued [Abstract]
Tax Assessment		12			12
Penalty and Interest Assessment		18			18
Total		(30)			(30)
2007 | Indonesian Tax Authority | PT-FI
Income Tax Examination [Line Items]
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority		(135)			(135)
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued [Abstract]
Tax Assessment		91			91
Interest Assessment		44			44
Total		(135)			(135)
2008 | SUNAT | Cerro Verde
Income Tax Examination [Line Items]
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority		(34)			(34)
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued [Abstract]
Tax Assessment		21			21
Penalty and Interest Assessment		13			13
Total		(34)			(34)
2008 | Indonesian Tax Authority | PT-FI
Income Tax Examination [Line Items]
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority		(114)			(114)
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued [Abstract]
Tax Assessment		62			62
Interest Assessment		52			52
Total		(114)			(114)
2009 | SUNAT | Cerro Verde
Income Tax Examination [Line Items]
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority		(104)			(104)
Income tax contingency, estimate of possible loss		80
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued [Abstract]
Tax Assessment		56			56
Penalty and Interest Assessment		48			48
Total		(104)			(104)
2010 | SUNAT | Cerro Verde
Income Tax Examination [Line Items]
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority		(164)			(164)
Income tax contingency, estimate of possible loss		162
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued [Abstract]
Tax Assessment		66			66
Penalty and Interest Assessment		98			98
Total		(164)			(164)
tax year 2011, 2014, 2016 [Member] | SUNAT | Cerro Verde
Income Tax Examination [Line Items]
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority		(25)			(25)
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued [Abstract]
Tax Assessment		22			22
Penalty and Interest Assessment		3			3
Total		(25)			(25)
2011 | Indonesian Tax Authority | PT-FI
Income Tax Examination [Line Items]
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority		(91)			(91)
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued [Abstract]
Tax Assessment		78			78
Interest Assessment		13			13
Total		(91)			(91)
2012 | Indonesian Tax Authority | PT-FI
Income Tax Examination [Line Items]
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority		(123)			(123)
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued [Abstract]
Tax Assessment		123			123
Interest Assessment		0			0
Total		(123)			(123)
2014 | PT-FI
Income Tax Examination [Line Items]
Proceeds from Income Tax Refunds	$ 128
Disputed Tax Assessments Receivable						$ 152
Tax Overpayment				$ 284
Assessment By Foreign Government Of Alleged Obligations	$ 156
2014 | Indonesian Tax Authority | PT-FI
Income Tax Examination [Line Items]
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority		(152)			(152)
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued [Abstract]
Tax Assessment		152			152
Interest Assessment		0			0
Total		(152)			(152)
2015 | PT-FI
Income Tax Examination [Line Items]
Income Taxes Receivable		109			109
Relating to Tax Periods 2006 Through 2013 | SUNAT | Cerro Verde
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued [Abstract]
Penalty and Interest Assessment		544			544
Relating to the Period October 2006 through December 2008 | SUNAT | Cerro Verde
Income Tax Examination [Line Items]
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority		$ (146)			(146)
Duration of Deferred Payment under Installment Program		6 months
Number of Installment Payments under Installment Program | payment		66
Income Taxes Paid, Net					96
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued [Abstract]
Total		$ (146)			(146)
Relating to 2011 through 2015 | Tax Authority, In Papau, Indonesia | PT-FI
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued [Abstract]
Interest Assessment		227			227
Income Tax Penalties and Interest Accrued		376			376
Relating to August 2015 through December 2016 [Member] | Tax Authority, In Papau, Indonesia | PT-FI
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued [Abstract]
Income Tax Penalties and Interest Accrued		93			93
Relating to 2011 through 2016 [Member] | Tax Authority, In Papau, Indonesia | PT-FI
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued [Abstract]
Income Tax Penalties and Interest Accrued		469			469
PT-FI
Income Tax Examination [Line Items]
Income Taxes Receivable, Noncurrent		$ 331	$ 209		$ 331

CONTINGENCIES (Letters of Credi

CONTINGENCIES (Letters of Credit, Bank Guarantees and Surety Bonds) (Details) $ in Millions	Dec. 31, 2016USD ($)
Surety Bond
Guarantor Obligations [Line Items]
Guarantor obligations, carrying value	$ 371
Surety Bonds for Asset Retirement Obligations
Guarantor Obligations [Line Items]
Guarantor obligations, carrying value	290
Surety Bonds for Self Insurance
Guarantor Obligations [Line Items]
Guarantor obligations, carrying value	24
Surety Bonds for Other Bonds
Guarantor Obligations [Line Items]
Guarantor obligations, carrying value	57
Cerro Verde
Guarantor Obligations [Line Items]
Outstanding Standby Letters Of Credit	$ 281

CONTINGENCIES (Insurance) (Deta

CONTINGENCIES (Insurance) (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Self insurance reserve	$ 58
Self insurance reserve, current	7
Self insurance reserve, non-current	51	$ 59
Insurance Settlements Receivable	17
Insurance Settlements Receivable, Current	2
Insurance Settlements Receivable, Noncurrent	$ 15

COMMITMENTS AND GUARANTEES (Ope

COMMITMENTS AND GUARANTEES (Operating Leases) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Operating leases, future minimum payments due:
2,017	$ 45
2,018	36
2,019	22
2,020	20
2,021	19
Thereafter	109
Total aggregate rental expense under operating leases	$ 71	$ 71	$ 76

COMMITMENTS AND GUARANTEES (Con

COMMITMENTS AND GUARANTEES (Contractual Obligations) (Details) $ in Millions	Dec. 31, 2016USD ($)
Unconditional purchase obligations [Line Items]
Unconditional purchase obligations	$ 3,400
2,017	1,800
2,018	718
2,019	314
2,020	263
2,021	45
Thereafter	342
Copper concentrates
Unconditional purchase obligations [Line Items]
Unconditional purchase obligations	1,400
Cobalt
Unconditional purchase obligations [Line Items]
Unconditional purchase obligations	800
Electricity
Unconditional purchase obligations [Line Items]
Unconditional purchase obligations	500
Transportation
Unconditional purchase obligations [Line Items]
Unconditional purchase obligations	$ 400

COMMITMENTS AND GUARANTEES (Min

COMMITMENTS AND GUARANTEES (Mining Contracts) (Details) T in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2016USD ($)extensionT$ / lb	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Surety Bond
Contractual Obligations Mining Contracts [Line Items]
Assurance Bond, Smelter Development	$ 371
PT-FI
Contractual Obligations Mining Contracts [Line Items]
Number of Extention Periods Available Under Mining Contract | extension	2
Period For Option To Extend Mining Contract	10 years
Gold And Silver Sales Royalty Rate	1.00%
Quantity of ore produced subject to additional royalties | T	0.2
Progressive Export Duty on Copper Concentrates, Lower Threshold, Percent	5.00%
Progressive Export Duty on Copper Concentrates, Higher Threshold, Percent	7.50%
Smelter Development Progress, Lower Threshold, Percent	7.50%
Smelter Development Progress, Higher Threshold, Percent	30.00%
Royalty Expense	$ 131	$ 114	$ 115
Export Duties Expense	$ 95	$ 109	$ 77
Incremental Percent of Undivided Interest Owned by Third Party	20.64%
PT-FI | Copper
Contractual Obligations Mining Contracts [Line Items]
Royalty Interest in Future Production	4.00%		3.50%
PT-FI | Gold
Contractual Obligations Mining Contracts [Line Items]
Royalty Interest in Future Production	3.75%		1.00%
PT-FI | Construction Contracts | Surety Bond
Contractual Obligations Mining Contracts [Line Items]
Assurance Bond, Smelter Development	$ 115
PT-FI | Minimum
Contractual Obligations Mining Contracts [Line Items]
Copper Royalty Rate Payable	1.50%
Price Of Copper Per Pound | $ / lb	0.90
PT-FI | Maximum
Contractual Obligations Mining Contracts [Line Items]
Copper Royalty Rate Payable	3.50%
Price Of Copper Per Pound | $ / lb	1.10

COMMITMENTS AND GUARANTEES (Oth

COMMITMENTS AND GUARANTEES (Other and Community Development Programs) (Details) - USD ($) shares in Millions, $ in Millions	Jan. 05, 2016	Jan. 31, 2017	Jun. 30, 2016	Nov. 23, 2016	Aug. 04, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	May 10, 2016
Other Commitments [Line Items]
Cost of sales						$ 17,580	$ 27,415	$ 18,494
Community Development Programs | PT-FI
Other Commitments [Line Items]
Cost of sales						$ 33	$ 27	$ 31
Percentage of annual revenue committed for the development of the local people in the area of operations						1.00%
Ultra-deepwater Drillship Contracts [Member]
Other Commitments [Line Items]
Proceeds from Issuance of Common Stock, Gross			$ 540
Rowan Companies plc [Member] | Contract Termination [Member]
Other Commitments [Line Items]
Loss Contingency Accrual, Payments						$ 215
Rowan Companies plc [Member] | Contract Termination [Member] | Subsequent Event [Member]
Other Commitments [Line Items]
Loss Contingency Accrual, Payments		$ 6
Ultra-deepwater Drillship Contracts [Member]
Other Commitments [Line Items]
Unrecorded Unconditional Purchase Obligation, Change of Amount as Result of Variable Components			1,100
Ultra-deepwater Drillship Contracts [Member] | Rowan Companies plc [Member] | Maximum
Other Commitments [Line Items]
Contingent Payments, Contract Termination									$ 30
Ultra-deepwater Drillship Contracts [Member] | Noble Drilling LLC [Member] | Maximum
Other Commitments [Line Items]
Contingent Payments, Contract Termination									$ 75
Fair Value, Measurements, Recurring [Member] | Carrying Amount, Fair Value Disclosure [Member]
Other Commitments [Line Items]
Unrecorded Unconditional Purchase Obligation, Change of Amount as Result of Variable Components			$ 0
Common Stock
Other Commitments [Line Items]
Stock Issued During Period, Shares, New Issues	4.3		48.1	116.5	27.7	197	205.7

FINANCIAL INSTRUMENTS (Unrealiz

FINANCIAL INSTRUMENTS (Unrealized gains losses) (Details) oz in Thousands, lb in Millions, $ in Millions	Dec. 31, 2016lboz$ / lb$ / lb$ / oz	Dec. 31, 2016USD ($)$ / lb$ / lb$ / oz	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Commodity Contract [Member]
Unrealized gains (losses):
Derivative financial instruments		$ 16	$ (3)	$ (12)
Hedged item – firm sales commitments		(16)	3	12
Realized gains (losses):
Matured derivative financial instruments		$ 1	(34)	(9)
Commodity Contract [Member] | Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Nonmonetary Notional Amount, Mass | lb	42
Derivative, Average Forward Price | $ / lb	2.35	2.35
Embedded Derivative Financial Instruments [Member] | Derivatives Not Designated as Hedging Instruments [Member] | Amounts recorded in Sales [Member]
Realized gains (losses):
Matured derivative financial instruments		$ 266	(406)	(280)
Crude Oil Options [Member] | Derivatives Not Designated as Hedging Instruments [Member] | Freeport-McMoRan Oil & Gas | Amounts recorded in Sales [Member]
Realized gains (losses):
Matured derivative financial instruments		(35)	87	513
Natural Gas Swaps [Member] | Derivatives Not Designated as Hedging Instruments [Member] | Freeport-McMoRan Oil & Gas | Amounts recorded in Sales [Member]
Realized gains (losses):
Matured derivative financial instruments		$ 0	0	(8)
Copper Forward Contracts [Member] | Derivatives Not Designated as Hedging Instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Nonmonetary Notional Amount, Mass | lb	3
Derivative, Average Forward Price | $ / lb	2.57	2.57
Copper Forward Contracts [Member] | Derivatives Not Designated as Hedging Instruments [Member] | Amounts recorded in Cost of Sales
Realized gains (losses):
Matured derivative financial instruments		$ 5	$ (15)	$ (4)
Copper | Short [Member] | Embedded Derivative Financial Instruments [Member] | Derivatives Not Designated as Hedging Instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Nonmonetary Notional Amount, Mass | lb	698
Derivative, Average Forward Price | $ / lb	2.36	2.36
Realized gains (losses):
Derivative Average Market Price | $ / lb	2.51	2.51
Copper | Long [Member] | Embedded Derivative Financial Instruments [Member] | Derivatives Not Designated as Hedging Instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Nonmonetary Notional Amount, Mass | lb	140
Derivative, Average Forward Price | $ / lb	2.37	2.37
Realized gains (losses):
Derivative Average Market Price | $ / lb	2.51	2.51
Gold | Short [Member] | Embedded Derivative Financial Instruments [Member] | Derivatives Not Designated as Hedging Instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Nonmonetary Notional Amount, Mass | oz	207
Derivative, Average Forward Price | $ / oz	1,195	1,195
Realized gains (losses):
Derivative Average Market Price | $ / oz	1,161	1,161

FINANCIAL INSTRUMENTS (Unsettle

FINANCIAL INSTRUMENTS (Unsettled Derivatives) (Details) lb in Millions, bbl in Millions, MMBTU in Millions, $ in Millions	Dec. 31, 2016USD ($)lb	Dec. 31, 2020$ / bblbbl	Dec. 31, 2020MMBTU$ / bblbbl	Dec. 31, 2020$ / MMBTU	Dec. 31, 2015USD ($)
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 146				$ 20
Derivative Liability, Fair Value, Gross Liability	58				92
Derivative Liability, Fair Value, Gross Asset	14				6
Derivative Asset, Fair Value, Gross Liability	14				6
Derivative Asset	132				14
Derivative Liability	44				86
Trade accounts receivable [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset	119				9
Derivative Liability	13				51
Other current assets [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset	7				0
Derivative Liability	0				0
Accounts Payable and Accrued Liabilities
Derivatives, Fair Value [Line Items]
Derivative Asset	6				5
Derivative Liability	31				35
Commodity Contract [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	9				1
Derivative Liability, Fair Value, Gross Liability	2				11
Derivative Liability, Fair Value, Gross Asset	2				1
Derivative Asset, Fair Value, Gross Liability	2				1
Derivative Asset	7				0
Derivative Liability	0				10
Embedded Derivative Financial Instruments [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	137				19
Derivative Liability, Fair Value, Gross Liability	56				81
Derivative Liability, Fair Value, Gross Asset	12				5
Derivative Asset, Fair Value, Gross Liability	12				5
Derivative Asset	125				14
Derivative Liability	44				76
Designated as Hedging Instrument [Member] | Commodity Contract [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	9				1
Derivative Liability, Fair Value, Gross Liability	$ 2				11
Derivative, Nonmonetary Notional Amount, Mass | lb	42
Derivatives Not Designated as Hedging Instruments [Member] | Embedded Derivative Financial Instruments [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 137				19
Derivative Liability, Fair Value, Gross Liability	$ 56				$ 81
Derivatives Not Designated as Hedging Instruments [Member] | Forward Contracts [Member]
Derivatives, Fair Value [Line Items]
Derivative, Nonmonetary Notional Amount, Mass | lb	3
Scenario, Forecast [Member]
Derivatives, Fair Value [Line Items]
Derivative, Nonmonetary Notional Amount, Volume | bbl		5.2	19.4
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU			28.9
Derivative, Swap Type, Fixed Price		56.04	56.04	3.1445
Derivative, Average Floor Price | $ / bbl		50	50
Derivative, Cap Price | $ / bbl		63.69	63.69

FINANCIAL INSTRUMENTS (Derivati

FINANCIAL INSTRUMENTS (Derivative) (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 4,245	$ 177	$ 298	$ 1,864
Credit Derivative, Maximum Exposure, Undiscounted	118
Bank Time Deposits [Member]
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 64	$ 34

FAIR VALUE MEASUREMENT (Details

FAIR VALUE MEASUREMENT (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Other current assets	$ 110	$ 161
Other assets	1,956	1,987
Investment securities (current and long-term):
Alternative Investments, Fair Value Disclosure	76	75
Derivatives:
Derivative Asset	132	14
Derivatives: [Abstract]
Derivative Liability	44	86
Level 1
Investment securities (current and long-term):
Available-for-sale Securities	27	24
Trust Assets Fair Value Disclosure	12	7
Derivatives:
Derivative Asset	8	1
Contingent receivable	0
Total assets	47	32
Derivatives: [Abstract]
Derivative Liability	2	7
Discontinued Operation, Contingent Payable	0
Long-term debt, including current portion	0	0
Total liabilities	2	7
Level 2
Investment securities (current and long-term):
Available-for-sale Securities	0	0
Trust Assets Fair Value Disclosure	118	112
Derivatives:
Derivative Asset	184	19
Contingent receivable	0
Total assets	302	131
Derivatives: [Abstract]
Derivative Liability	56	85
Discontinued Operation, Contingent Payable	23
Long-term debt, including current portion	15,196	13,987
Total liabilities	15,275	14,072
Level 3
Investment securities (current and long-term):
Available-for-sale Securities	0	0
Trust Assets Fair Value Disclosure	0	0
Derivatives:
Derivative Asset	0	0
Contingent receivable	135
Total assets	135	0
Derivatives: [Abstract]
Derivative Liability	0	0
Discontinued Operation, Contingent Payable	0
Long-term debt, including current portion	0	0
Total liabilities	0	0
Carrying Amount, Fair Value Disclosure [Member]
Investment securities (current and long-term):
Available-for-sale Securities	50	47
Trust Assets Fair Value Disclosure	183	171
Derivatives:
Derivative Asset	192	20
Contingent receivable	150
Derivatives: [Abstract]
Derivative Liability	58	92
Discontinued Operation, Contingent Payable	23
Long-term debt, including current portion	16,027	20,428
Estimate of Fair Value Measurement [Member]
Investment securities (current and long-term):
Available-for-sale Securities	50	47
Trust Assets Fair Value Disclosure	183	171
Derivatives:
Derivative Asset	192	20
Contingent receivable	135
Total assets	560	238
Derivatives: [Abstract]
Derivative Liability	58	92
Discontinued Operation, Contingent Payable	23
Long-term debt, including current portion	15,196	13,987
Total liabilities	15,277	14,079
Embedded Derivative Financial Instruments [Member] | Level 1
Derivatives: [Abstract]
Derivative Liability		0
Embedded Derivative Financial Instruments [Member] | Level 2
Derivatives: [Abstract]
Derivative Liability		81
Embedded Derivative Financial Instruments [Member] | Level 3
Derivatives: [Abstract]
Derivative Liability		0
Embedded Derivative Financial Instruments [Member] | Carrying Amount, Fair Value Disclosure [Member]
Derivatives: [Abstract]
Derivative Liability		81
Embedded Derivative Financial Instruments [Member] | Estimate of Fair Value Measurement [Member]
Derivatives: [Abstract]
Derivative Liability		81
Embedded Derivative Financial Instruments [Member]
Derivatives:
Derivative Asset	125	14
Derivatives: [Abstract]
Derivative Liability	44	76
Embedded Derivative Financial Instruments [Member] | Level 1
Derivatives:
Derivative Asset	0	0
Derivatives: [Abstract]
Derivative Liability	0
Embedded Derivative Financial Instruments [Member] | Level 2
Derivatives:
Derivative Asset	137	19
Derivatives: [Abstract]
Derivative Liability	56
Embedded Derivative Financial Instruments [Member] | Level 3
Derivatives:
Derivative Asset	0	0
Derivatives: [Abstract]
Derivative Liability	0
Embedded Derivative Financial Instruments [Member] | Carrying Amount, Fair Value Disclosure [Member]
Derivatives:
Derivative Asset	137	19
Derivatives: [Abstract]
Derivative Liability	56
Embedded Derivative Financial Instruments [Member] | Estimate of Fair Value Measurement [Member]
Derivatives:
Derivative Asset	137	19
Derivatives: [Abstract]
Derivative Liability	56
Copper futures and swap contracts [Member]
Derivatives:
Derivative Asset	7	0
Derivatives: [Abstract]
Derivative Liability	0	10
Copper futures and swap contracts [Member] | Level 1
Derivatives:
Derivative Asset	8	1
Derivatives: [Abstract]
Derivative Liability	2
Copper futures and swap contracts [Member] | Level 2
Derivatives:
Derivative Asset	1	0
Derivatives: [Abstract]
Derivative Liability	0
Copper futures and swap contracts [Member] | Level 3
Derivatives:
Derivative Asset	0	0
Derivatives: [Abstract]
Derivative Liability	0
Copper futures and swap contracts [Member] | Carrying Amount, Fair Value Disclosure [Member]
Derivatives:
Derivative Asset	9	1
Derivatives: [Abstract]
Derivative Liability	2
Copper futures and swap contracts [Member] | Estimate of Fair Value Measurement [Member]
Derivatives:
Derivative Asset	9	1
Derivatives: [Abstract]
Derivative Liability	2
Africa and onshore California [Member] | Copper futures and swap contracts [Member] | Level 1
Derivatives:
Derivative Asset	0
Africa and onshore California [Member] | Copper futures and swap contracts [Member] | Level 2
Derivatives:
Derivative Asset	46
Africa and onshore California [Member] | Copper futures and swap contracts [Member] | Level 3
Derivatives:
Derivative Asset	0
Africa and onshore California [Member] | Copper futures and swap contracts [Member] | Carrying Amount, Fair Value Disclosure [Member]
Derivatives:
Derivative Asset	46
Africa and onshore California [Member] | Copper futures and swap contracts [Member] | Estimate of Fair Value Measurement [Member]
Derivatives:
Derivative Asset	46
U.S. core fixed income fund [Member] | Level 1
Investment securities (current and long-term):
Available-for-sale Securities	0	0
Trust Assets Fair Value Disclosure	0	0
U.S. core fixed income fund [Member] | Level 2
Investment securities (current and long-term):
Available-for-sale Securities	0	0
Trust Assets Fair Value Disclosure	0	0
U.S. core fixed income fund [Member] | Level 3
Investment securities (current and long-term):
Available-for-sale Securities	0	0
Trust Assets Fair Value Disclosure	0	0
U.S. core fixed income fund [Member] | Carrying Amount, Fair Value Disclosure [Member]
Investment securities (current and long-term):
Available-for-sale Securities	23	23
Trust Assets Fair Value Disclosure	53	52
U.S. core fixed income fund [Member] | Estimate of Fair Value Measurement [Member]
Investment securities (current and long-term):
Available-for-sale Securities	23	23
Trust Assets Fair Value Disclosure	53	52
Money market funds [Member] | Level 1
Investment securities (current and long-term):
Available-for-sale Securities	22	21
Trust Assets Fair Value Disclosure	12	7
Money market funds [Member] | Level 2
Investment securities (current and long-term):
Available-for-sale Securities	0	0
Trust Assets Fair Value Disclosure	0	0
Money market funds [Member] | Level 3
Investment securities (current and long-term):
Available-for-sale Securities	0	0
Trust Assets Fair Value Disclosure	0	0
Money market funds [Member] | Carrying Amount, Fair Value Disclosure [Member]
Investment securities (current and long-term):
Available-for-sale Securities	22	21
Trust Assets Fair Value Disclosure	12	7
Money market funds [Member] | Estimate of Fair Value Measurement [Member]
Investment securities (current and long-term):
Available-for-sale Securities	22	21
Trust Assets Fair Value Disclosure	12	7
Equity securities | Level 1
Investment securities (current and long-term):
Available-for-sale Securities	5	3
Equity securities | Level 2
Investment securities (current and long-term):
Available-for-sale Securities	0	0
Equity securities | Level 3
Investment securities (current and long-term):
Available-for-sale Securities	0	0
Equity securities | Carrying Amount, Fair Value Disclosure [Member]
Investment securities (current and long-term):
Available-for-sale Securities	5	3
Equity securities | Estimate of Fair Value Measurement [Member]
Investment securities (current and long-term):
Available-for-sale Securities	5	3
Government bonds | Level 1
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0	0
Government bonds | Level 2
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	36	37
Government bonds | Level 3
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0	0
Government bonds | Carrying Amount, Fair Value Disclosure [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	36	37
Government bonds | Estimate of Fair Value Measurement [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	36	37
Government mortgage-backed securities [Member] | Level 1
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0	0
Government mortgage-backed securities [Member] | Level 2
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	25	28
Government mortgage-backed securities [Member] | Level 3
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0	0
Government mortgage-backed securities [Member] | Carrying Amount, Fair Value Disclosure [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	25	28
Government mortgage-backed securities [Member] | Estimate of Fair Value Measurement [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	25	28
Corporate bonds [Member] | Level 1
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0	0
Corporate bonds [Member] | Level 2
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	32	26
Corporate bonds [Member] | Level 3
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0	0
Corporate bonds [Member] | Carrying Amount, Fair Value Disclosure [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	32	26
Corporate bonds [Member] | Estimate of Fair Value Measurement [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	32	26
Asset-backed securities [Member] | Level 1
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0	0
Asset-backed securities [Member] | Level 2
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	16	13
Asset-backed securities [Member] | Level 3
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0	0
Asset-backed securities [Member] | Carrying Amount, Fair Value Disclosure [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	16	13
Asset-backed securities [Member] | Estimate of Fair Value Measurement [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	16	13
Collateralized Mortgage Backed Securities [Member] | Level 1
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0	0
Collateralized Mortgage Backed Securities [Member] | Level 2
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	8	7
Collateralized Mortgage Backed Securities [Member] | Level 3
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0	0
Collateralized Mortgage Backed Securities [Member] | Carrying Amount, Fair Value Disclosure [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	8	7
Collateralized Mortgage Backed Securities [Member] | Estimate of Fair Value Measurement [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	8	7
Municipal bonds [Member] | Level 1
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0	0
Municipal bonds [Member] | Level 2
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	1	1
Municipal bonds [Member] | Level 3
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0	0
Municipal bonds [Member] | Carrying Amount, Fair Value Disclosure [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	1	1
Municipal bonds [Member] | Estimate of Fair Value Measurement [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	1	1
Copper futures and swap contracts [Member] | Level 1
Derivatives: [Abstract]
Derivative Liability		7
Copper futures and swap contracts [Member] | Level 2
Derivatives: [Abstract]
Derivative Liability		4
Copper futures and swap contracts [Member] | Level 3
Derivatives: [Abstract]
Derivative Liability		0
Copper futures and swap contracts [Member] | Carrying Amount, Fair Value Disclosure [Member]
Derivatives: [Abstract]
Derivative Liability		11
Copper futures and swap contracts [Member] | Estimate of Fair Value Measurement [Member]
Derivatives: [Abstract]
Derivative Liability		11
Bank Time Deposits [Member] | Carrying Amount, Fair Value Disclosure [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Other current assets	28	28
Other assets	122	118
Investment Securities [Member]
Investment securities (current and long-term):
Alternative Investments, Fair Value Disclosure	23	23
Investment Securities [Member] | U.S. core fixed income fund [Member]
Investment securities (current and long-term):
Alternative Investments, Fair Value Disclosure	23	23
Restricted Funds [Member]
Investment securities (current and long-term):
Alternative Investments, Fair Value Disclosure	53	52
Restricted Funds [Member] | U.S. core fixed income fund [Member]
Investment securities (current and long-term):
Alternative Investments, Fair Value Disclosure	$ 53	$ 52

FAIR VALUE MEASUREMENT FAIR VAL

FAIR VALUE MEASUREMENT FAIR VALUE MEASUREMENT (Unobservable inputs) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis with Unobservable Inputs	$ 0
Net realized gains (losses)	0
Net unrealized gains (losses) related to assets still held at the end of the year	135
Settlement receipts	0
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis with Unobservable Inputs	$ 135	$ 0
Crude Oil Options [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis with Unobservable Inputs		316	$ (309)
Net realized gains (losses)		86	(42)
Net unrealized gains (losses) related to assets still held at the end of the year		0	430
Settlement receipts		(402)	237
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis with Unobservable Inputs			316
Crude Oil Options [Member] | Sales [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings		87	(41)
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Net unrealized gains (losses) related to assets still held at the end of the year			432
Crude Oil Options [Member] | Interest Expense [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Net realized gains (losses)		(1)	(1)
Net unrealized gains (losses) related to assets still held at the end of the year			(2)
Settlement receipts		$ 4	$ 5

BUSINESS SEGMENTS INFORMATIO108

BUSINESS SEGMENTS INFORMATION (Product Revenue) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Product revenue [Line Items]
Revenues	$ 4,377	$ 3,877	$ 3,334	$ 3,242	$ 3,516	$ 3,382	$ 3,938	$ 3,771	$ 14,830	$ 14,607	$ 20,001
Treatment and refining charges included in copper concentrates revenues									652	485	374
Refined copper products
Product revenue [Line Items]
Revenues									5,888	6,699	8,187
Copper in concentrate
Product revenue [Line Items]
Revenues									4,502	2,869	3,366
Gold
Product revenue [Line Items]
Revenues									1,512	1,538	1,584
Molybdenum
Product revenue [Line Items]
Revenues									651	783	1,207
Oil
Product revenue [Line Items]
Revenues									1,304	1,694	4,233
Other
Product revenue [Line Items]
Revenues									$ 973	$ 1,024	$ 1,424

BUSINESS SEGMENTS INFORMATIO109

BUSINESS SEGMENTS INFORMATION (Long Lived Assets by Geographic Area) (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Long Lived assets by geographic area of customer [Line Items]
Long-lived assets	$ 26,574	$ 38,795	$ 49,412
Assets held for sale	0	4,386	4,300
U.S.
Long Lived assets by geographic area of customer [Line Items]
Long-lived assets	8,282	16,569	29,468
Indonesia
Long Lived assets by geographic area of customer [Line Items]
Long-lived assets	8,794	7,701	6,961
Peru
Long Lived assets by geographic area of customer [Line Items]
Long-lived assets	7,981	8,432	6,848
Chile
Long Lived assets by geographic area of customer [Line Items]
Long-lived assets	1,269	1,387	1,542
Other
Long Lived assets by geographic area of customer [Line Items]
Long-lived assets	$ 248	$ 4,706	$ 4,593

BUSINESS SEGMENTS INFORMATIO110

BUSINESS SEGMENTS INFORMATION (Revenues by Geographic Area of Customer) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues by geographic area of customer [Line Items]
Revenues	$ 4,377	$ 3,877	$ 3,334	$ 3,242	$ 3,516	$ 3,382	$ 3,938	$ 3,771	$ 14,830	$ 14,607	$ 20,001
UNITED KINGDOM
Revenues by geographic area of customer [Line Items]
Revenues									204	83	142
U.S.
Revenues by geographic area of customer [Line Items]
Revenues									5,896	6,842	10,307
Japan
Revenues by geographic area of customer [Line Items]
Revenues									1,350	1,246	1,573
Indonesia
Revenues by geographic area of customer [Line Items]
Revenues									1,402	1,054	1,792
Spain
Revenues by geographic area of customer [Line Items]
Revenues									878	960	1,020
China
Revenues by geographic area of customer [Line Items]
Revenues									1,125	688	790
Switzerland
Revenues by geographic area of customer [Line Items]
Revenues									1,147	618	658
India
Revenues by geographic area of customer [Line Items]
Revenues									553	532	286
BERMUDA
Revenues by geographic area of customer [Line Items]
Revenues									273	159	76
PHILIPPINES
Revenues by geographic area of customer [Line Items]
Revenues									261	169	0
Chile
Revenues by geographic area of customer [Line Items]
Revenues									250	397	687
Korea
Revenues by geographic area of customer [Line Items]
Revenues									219	177	203
Other
Revenues by geographic area of customer [Line Items]
Revenues									$ 1,272	$ 1,682	$ 2,467

BUSINESS SEGMENTS INFORMATIO111

BUSINESS SEGMENTS INFORMATION (Customers and Labor Matters) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Major Customer and Labor Matters [Line Items]
Segment Reporting, Disclosure of Major Customers									0
Revenues	$ 4,377	$ 3,877	$ 3,334	$ 3,242	$ 3,516	$ 3,382	$ 3,938	$ 3,771	$ 14,830	$ 14,607	$ 20,001
Workforce Subject to Collective Bargaining Arrangements | Labor Force Concentration Risk
Major Customer and Labor Matters [Line Items]
Concentration risk percentage									50.00%
Workforce Subject to Collective Bargaining Arrangements Expiring within One Year | Labor Force Concentration Risk
Major Customer and Labor Matters [Line Items]
Concentration risk percentage									33.00%
Affiliated Entity | Noncontrolling Interest Owners Of South America Mining Operations
Major Customer and Labor Matters [Line Items]
Revenues									$ 1,000		1,600
Affiliated Entity | PT Smelting
Major Customer and Labor Matters [Line Items]
Revenues									1,400	1,100	1,800
Phillips 66
Major Customer and Labor Matters [Line Items]
Revenues											$ 2,500
Phillips 66 | Revenue | Customer Concentration
Major Customer and Labor Matters [Line Items]
Concentration risk percentage											12.00%
Indonesia
Major Customer and Labor Matters [Line Items]
Revenues									$ 1,402	$ 1,054	$ 1,792
Indonesia | PT Smelting
Major Customer and Labor Matters [Line Items]
Investment Owned, Percent of Net Assets	25.00%								25.00%

BUSINESS SEGMENTS INFORMATIO112

BUSINESS SEGMENTS INFORMATION (Business Segments Narrative) (Details)	12 Months Ended
	Dec. 31, 2016	Nov. 03, 2014
Candelaria and Ojos del Salado Mining Complex
Mining Segment Reporting Information [Line Items]
Ownership percentage		80.00%
Indonesia | Cost of Goods, Product Line | Supplier Concentration Risk | Atlantic Copper Smelting & Refining
Mining Segment Reporting Information [Line Items]
Concentration risk percentage	3.00%
North America | Inventory, Copper Metal Production | Product Concentration Risk | Morenci
Mining Segment Reporting Information [Line Items]
Concentration risk percentage	46.00%
North America | Cost of Goods, Product Line | Supplier Concentration Risk | Atlantic Copper Smelting & Refining
Mining Segment Reporting Information [Line Items]
Concentration risk percentage	13.00%
South America | Inventory, Copper Metal Production | Product Concentration Risk | Cerro Verde
Mining Segment Reporting Information [Line Items]
Concentration risk percentage	83.00%
South America | Cost of Goods, Product Line | Supplier Concentration Risk | Atlantic Copper Smelting & Refining
Mining Segment Reporting Information [Line Items]
Concentration risk percentage	7.00%
PT Smelting
Mining Segment Reporting Information [Line Items]
Deferred intercompany profit	25.00%
PT Smelting | Indonesia
Mining Segment Reporting Information [Line Items]
Ownership percentage	25.00%
Morenci
Mining Segment Reporting Information [Line Items]
Ownership percentage	72.00%

BUSINESS SEGMENTS INFORMATIO113

BUSINESS SEGMENTS INFORMATION (Segment Reporting) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting Information [Line Items]
Revenues	$ 4,377	$ 3,877	$ 3,334	$ 3,242	$ 3,516	$ 3,382	$ 3,938	$ 3,771	$ 14,830	$ 14,607	$ 20,001
Production and delivery									10,697	10,693	11,116
Depreciation, depletion and amortization									2,530	3,240	3,635
Impairment of oil and gas properties		239	291	3,800	3,700	3,700	2,700	3,100	4,317	13,144	3,737
Metals inventory adjustments	9	20	2	5	184	91	59	4	36	338	6
Selling, general and administrative expenses									607	558	580
Mining exploration and research expenses									64	107	106
Environmental obligations and shutdown costs									20	78	119
Goodwill impairment									0	0	1,717
Net gain on sales of assets	113		(13)	(749)				(39)	(649)	(39)	(717)
Operating income (loss)	703	359	$ 18	$ (3,872)	(4,097)	(3,964)	$ (2,421)	$ (3,030)	(2,792)	(13,512)	(298)
Interest expense, net									755	617	606
Provision for (benefit from) income taxes									371	(1,951)	225
Total assets	37,317				46,577				37,317	46,577	58,674
Capital expenditures									2,813	6,353	7,215
Restructuring and asset impairment charges	16	$ 17			53	$ 92			33	145
Oil and Gas idle rig costs, inventory adjustments and asset impairments									1,000
Selling, General and Administrative Expenses
Segment Reporting Information [Line Items]
Restructuring charges									(85)
Cerro Verde
Segment Reporting Information [Line Items]
Restructuring and asset impairment charges									16
Grasberg
Segment Reporting Information [Line Items]
Capital expenditures									1,025	901	935
Molybdenum
Segment Reporting Information [Line Items]
Capital expenditures									2	13	54
U.S. Oil & Gas Operations
Segment Reporting Information [Line Items]
Capital expenditures									1,127	2,948	3,205
South America
Segment Reporting Information [Line Items]
Capital expenditures									382	1,722	1,785
Indonesia
Segment Reporting Information [Line Items]
Revenues									1,402	1,054	1,792
Restructuring and asset impairment charges									17
Operating Segments | Total Mining
Segment Reporting Information [Line Items]
Revenues									13,317	12,612	15,291
Production and delivery									8,843	9,483	9,877
Depreciation, depletion and amortization									1,647	1,422	1,330
Impairment of oil and gas properties									0	0	0
Metals inventory adjustments									36	338	6
Selling, general and administrative expenses									136	149	151
Mining exploration and research expenses									64	107	106
Environmental obligations and shutdown costs									19	77	118
Goodwill impairment											0
Net gain on sales of assets									(643)	(39)	(717)
Operating income (loss)									3,215	1,075	4,420
Interest expense, net									181	105	102
Provision for (benefit from) income taxes									658	199	1,045
Total assets	33,130				38,155				33,130	38,155	37,120
Capital expenditures									1,638	3,295	3,981
Operating Segments | Molybdenum
Segment Reporting Information [Line Items]
Revenues									0	0	0
Production and delivery									199	312	328
Depreciation, depletion and amortization									68	97	92
Impairment of oil and gas properties									0	0	0
Metals inventory adjustments									15	11	0
Selling, general and administrative expenses									0	0	0
Mining exploration and research expenses									0	0	0
Environmental obligations and shutdown costs									0	0	0
Goodwill impairment											0
Net gain on sales of assets									0	0	0
Operating income (loss)									(96)	(72)	167
Interest expense, net									0	0	0
Provision for (benefit from) income taxes									0	0	0
Total assets	1,934				1,999				1,934	1,999	2,095
Capital expenditures									2	13	54
Restructuring and asset impairment charges										7
Operating Segments | Rod & Refining
Segment Reporting Information [Line Items]
Revenues									3,833	4,125	4,626
Production and delivery									3,836	4,129	4,633
Depreciation, depletion and amortization									10	9	10
Impairment of oil and gas properties									0	0	0
Metals inventory adjustments									0	0	0
Selling, general and administrative expenses									0	0	0
Mining exploration and research expenses									0	0	0
Environmental obligations and shutdown costs									0	0	0
Goodwill impairment											0
Net gain on sales of assets									0	0	0
Operating income (loss)									16	16	12
Interest expense, net									0	0	0
Provision for (benefit from) income taxes									0	0	0
Total assets	220				219				220	219	235
Capital expenditures									1	4	4
Restructuring and asset impairment charges										3
Operating Segments | Atlantic Copper Smelting & Refining
Segment Reporting Information [Line Items]
Revenues									1,825	1,955	2,391
Production and delivery									1,712	1,848	2,356
Depreciation, depletion and amortization									29	39	41
Impairment of oil and gas properties									0	0	0
Metals inventory adjustments									0	0	0
Selling, general and administrative expenses									17	16	17
Mining exploration and research expenses									0	0	0
Environmental obligations and shutdown costs									0	0	0
Goodwill impairment											0
Net gain on sales of assets									0	0	0
Operating income (loss)									72	67	(2)
Interest expense, net									15	10	13
Provision for (benefit from) income taxes									0	0	0
Total assets	658				612				658	612	898
Capital expenditures									17	23	17
Operating Segments | U.S. Oil & Gas Operations
Segment Reporting Information [Line Items]
Revenues									1,513	1,994	4,710
Production and delivery									1,801	1,211	1,237
Depreciation, depletion and amortization									869	1,804	2,291
Impairment of oil and gas properties									4,299	12,980	3,737
Metals inventory adjustments									0	0	0
Selling, general and administrative expenses									254	188	207
Mining exploration and research expenses									0	0	0
Environmental obligations and shutdown costs									0	0	0
Goodwill impairment											1,717
Net gain on sales of assets									1	0	0
Operating income (loss)									(5,711)	(14,189)	(4,479)
Interest expense, net									369	186	241
Provision for (benefit from) income taxes									0	0	0
Total assets	467				8,141				467	8,141	20,834
Capital expenditures									1,127	2,948	3,205
Gain (loss) on energy contracts									(35)	87	505
Charges at oil and gas operations, before tax											46
Operating Segments | North America
Segment Reporting Information [Line Items]
Revenues									684	909	700
Production and delivery									2,932	3,799	3,440
Depreciation, depletion and amortization									530	560	484
Impairment of oil and gas properties									0	0	0
Metals inventory adjustments									1	142	0
Selling, general and administrative expenses									5	6	5
Mining exploration and research expenses									3	7	8
Environmental obligations and shutdown costs									0	3	(5)
Goodwill impairment											0
Net gain on sales of assets									(576)	(39)	(14)
Operating income (loss)									1,479	648	1,698
Interest expense, net									4	4	4
Provision for (benefit from) income taxes									0	0	0
Total assets	7,311				8,445				7,311	8,445	9,391
Capital expenditures									102	355	969
Operating Segments | North America | Morenci
Segment Reporting Information [Line Items]
Revenues									444	558	364
Production and delivery									1,169	1,523	1,287
Depreciation, depletion and amortization									217	217	168
Impairment of oil and gas properties									0	0	0
Metals inventory adjustments									0	0	0
Selling, general and administrative expenses									2	3	2
Mining exploration and research expenses									0	0	0
Environmental obligations and shutdown costs									0	0	0
Goodwill impairment											0
Net gain on sales of assets									(576)	0	0
Operating income (loss)									1,143	461	659
Interest expense, net									3	2	3
Provision for (benefit from) income taxes									0	0	0
Total assets	2,863				3,567				2,863	3,567	3,780
Capital expenditures									77	253	826
Operating Segments | North America | Other
Segment Reporting Information [Line Items]
Revenues									240	351	336
Production and delivery									1,763	2,276	2,153
Depreciation, depletion and amortization									313	343	316
Impairment of oil and gas properties									0	0	0
Metals inventory adjustments									1	142	0
Selling, general and administrative expenses									3	3	3
Mining exploration and research expenses									3	7	8
Environmental obligations and shutdown costs									0	3	(5)
Goodwill impairment											0
Net gain on sales of assets									0	(39)	(14)
Operating income (loss)									336	187	1,039
Interest expense, net									1	2	1
Provision for (benefit from) income taxes									0	0	0
Total assets	4,448				4,878				4,448	4,878	5,611
Capital expenditures									25	102	143
Restructuring and asset impairment charges										99
Operating Segments | South America
Segment Reporting Information [Line Items]
Revenues									2,751	1,873	3,022
Production and delivery									1,758	1,438	1,939
Depreciation, depletion and amortization									553	352	367
Impairment of oil and gas properties									0	0	0
Metals inventory adjustments									0	73	0
Selling, general and administrative expenses									9	4	6
Mining exploration and research expenses									0	0	0
Environmental obligations and shutdown costs									0	0	0
Goodwill impairment											0
Net gain on sales of assets									0	0	0
Operating income (loss)									618	67	1,220
Interest expense, net									82	16	1
Provision for (benefit from) income taxes									216	4	531
Total assets	10,609				11,106				10,609	11,106	9,483
Capital expenditures									382	1,722	1,785
Restructuring and asset impairment charges										13
Operating Segments | South America | Cerro Verde
Segment Reporting Information [Line Items]
Revenues									2,241	1,065	1,282
Production and delivery									1,351	815	741
Depreciation, depletion and amortization									443	219	159
Impairment of oil and gas properties									0	0	0
Metals inventory adjustments									0	0	0
Selling, general and administrative expenses									8	3	3
Mining exploration and research expenses									0	0	0
Environmental obligations and shutdown costs									0	0	0
Goodwill impairment											0
Net gain on sales of assets									0	0	0
Operating income (loss)									626	96	585
Interest expense, net									82	16	1
Provision for (benefit from) income taxes									222	13	265
Total assets	9,076				9,445				9,076	9,445	7,490
Capital expenditures									380	1,674	1,691
Operating Segments | South America | Other
Segment Reporting Information [Line Items]
Revenues									510	808	1,740
Production and delivery									407	623	1,198
Depreciation, depletion and amortization									110	133	208
Impairment of oil and gas properties									0	0	0
Metals inventory adjustments									0	73	0
Selling, general and administrative expenses									1	1	3
Mining exploration and research expenses									0	0	0
Environmental obligations and shutdown costs									0	0	0
Goodwill impairment											0
Net gain on sales of assets									0	0	0
Operating income (loss)									(8)	(29)	635
Interest expense, net									0	0	0
Provision for (benefit from) income taxes									(6)	(9)	266
Total assets	1,533				1,661				1,533	1,661	1,993
Capital expenditures									2	48	94
Operating Segments | Indonesia | Grasberg
Segment Reporting Information [Line Items]
Revenues									3,233	2,617	2,848
Production and delivery									1,794	1,808	1,988
Depreciation, depletion and amortization									384	293	266
Impairment of oil and gas properties									0	0	0
Metals inventory adjustments									0	0	0
Selling, general and administrative expenses									90	103	98
Mining exploration and research expenses									0	0	0
Environmental obligations and shutdown costs									0	0	0
Goodwill impairment											0
Net gain on sales of assets									0	0	0
Operating income (loss)									1,027	449	719
Interest expense, net									0	0	0
Provision for (benefit from) income taxes									442	195	293
Total assets	10,954				9,357				10,954	9,357	8,592
Capital expenditures									1,025	901	935
Other Mining & Eliminations
Segment Reporting Information [Line Items]
Revenues									991	1,133	1,704
Production and delivery									(3,388)	(3,851)	(4,807)
Depreciation, depletion and amortization									73	72	70
Impairment of oil and gas properties									0	0	0
Metals inventory adjustments									20	112	6
Selling, general and administrative expenses									15	20	25
Mining exploration and research expenses									61	100	98
Environmental obligations and shutdown costs									19	74	123
Goodwill impairment											0
Net gain on sales of assets									(67)	0	(703)
Operating income (loss)									99	(100)	606
Interest expense, net									80	75	84
Provision for (benefit from) income taxes									0	0	221
Total assets	1,444				6,417				1,444	6,417	6,426
Capital expenditures									109	277	217
Restructuring and asset impairment charges										20
Assets, discontinued operations					4,900					4,900	4,800
Capital expenditures											159
Other Mining & Eliminations | U.S. Oil & Gas Operations
Segment Reporting Information [Line Items]
Capital expenditures									73	229
Intersegment
Segment Reporting Information [Line Items]
Revenues									0	0	(6,286)
Intersegment | Molybdenum
Segment Reporting Information [Line Items]
Revenues									186	348	587
Intersegment | Rod & Refining
Segment Reporting Information [Line Items]
Revenues									29	29	29
Intersegment | Atlantic Copper Smelting & Refining
Segment Reporting Information [Line Items]
Revenues									5	15	21
Intersegment | Other Mining and Eliminations Segment [Member]
Segment Reporting Information [Line Items]
Revenues									(4,159)	(4,706)
Intersegment | North America
Segment Reporting Information [Line Items]
Revenues									3,690	4,217	4,916
Intersegment | North America | Morenci
Segment Reporting Information [Line Items]
Revenues									1,511	1,646	1,752
Intersegment | North America | Other
Segment Reporting Information [Line Items]
Revenues									2,179	2,571	3,164
Intersegment | South America
Segment Reporting Information [Line Items]
Revenues									187	61	510
Intersegment | South America | Cerro Verde
Segment Reporting Information [Line Items]
Revenues									187	68	206
Intersegment | South America | Other
Segment Reporting Information [Line Items]
Revenues									0	(7)	304
Intersegment | Indonesia | Grasberg
Segment Reporting Information [Line Items]
Revenues									62	36	223
Corporate, Other & Eliminations
Segment Reporting Information [Line Items]
Revenues									0	1	0
Production and delivery									53	(1)	2
Depreciation, depletion and amortization									14	14	14
Impairment of oil and gas properties									18	164	0
Metals inventory adjustments									0	0	0
Selling, general and administrative expenses									217	221	222
Mining exploration and research expenses									0	0	0
Environmental obligations and shutdown costs									1	1	1
Goodwill impairment											0
Net gain on sales of assets									(7)	0	0
Operating income (loss)									(296)	(398)	(239)
Interest expense, net									205	326	263
Provision for (benefit from) income taxes									(287)	(2,150)	(820)
Total assets	$ 3,720				$ 281				3,720	281	720
Capital expenditures									48	110	29
Restructuring and asset impairment charges										3
Restructuring charges									(85)
Corporate, Other & Eliminations | U.S. Oil & Gas Operations
Segment Reporting Information [Line Items]
Capital expenditures									$ 47	$ 100	$ 19

GUARANTOR FINANCIAL STATEMEN114

GUARANTOR FINANCIAL STATEMENTS (Details)	Dec. 31, 2016
FM O&G LLC Guarantor
Condensed Financial Statements, Captions [Line Items]
Ownership percentage of subsidiary	100.00%

GUARANTOR FINANCIAL STATEMEN115

GUARANTOR FINANCIAL STATEMENTS (Condensed Consolidating Balance Sheet) (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
ASSETS
Current assets, other than assets held for sale	$ 10,091	$ 6,542
Current assets held for sale	344	920
Property, plant, equipment and mine development costs, net	23,219	23,986
Oil and gas properties, net - full cost method:
Subject to amortization, less accumulated amortization and impairments	74	2,262
Not subject to amortization	0	4,831
Investments in consolidated subsidiaries	0	0
Other assets	3,589	3,650
Assets held for sale	0	4,386	$ 4,300
Total assets	37,317	46,577	58,674
LIABILITIES AND EQUITY
Current liabilities, other than liabilities held for sale	4,060	4,176
Current liabilities held for sale	205	131
Long-term debt, less current portion	14,795	19,675
Deferred income taxes	3,768	3,567
Environmental and asset retirement obligations, less current portion	3,487	3,714
Investments in consolidated subsidiary	0	0
Other liabilities	1,745	1,641
Liabilities held for sale	0	865
Total liabilities	28,060	33,769
Redeemable noncontrolling interest	0	764
Equity:
Stockholders' equity	6,051	7,828
Noncontrolling interests	3,206	4,216
Total equity	9,257	12,044	$ 22,474	$ 25,231
Total liabilities and equity	37,317	46,577
Eliminations
ASSETS
Current assets, other than assets held for sale	(3,260)	(7,532)
Current assets held for sale	0	0
Property, plant, equipment and mine development costs, net	0	0
Oil and gas properties, net - full cost method:
Subject to amortization, less accumulated amortization and impairments	0	0
Not subject to amortization		6
Investments in consolidated subsidiaries	(21,110)	(24,311)
Other assets	(1,965)	(6,798)
Assets held for sale		0
Total assets	(26,335)	(38,635)
LIABILITIES AND EQUITY
Current liabilities, other than liabilities held for sale	(3,244)	(7,526)
Current liabilities held for sale	0	0
Long-term debt, less current portion	(15,081)	(12,433)
Deferred income taxes	0	0
Environmental and asset retirement obligations, less current portion	0	0
Investments in consolidated subsidiary	(9,888)	(2,397)
Other liabilities	(3,487)	(3,491)
Liabilities held for sale		0
Total liabilities	(31,700)	(25,847)
Redeemable noncontrolling interest		0
Equity:
Stockholders' equity	4,758	(13,328)
Noncontrolling interests	607	540
Total equity	5,365	(12,788)
Total liabilities and equity	(26,335)	(38,635)
FCX Issuer | Reportable Legal Entities
ASSETS
Current assets, other than assets held for sale	230	181
Current assets held for sale	0	0
Property, plant, equipment and mine development costs, net	19	26
Oil and gas properties, net - full cost method:
Subject to amortization, less accumulated amortization and impairments	0	0
Not subject to amortization		0
Investments in consolidated subsidiaries	21,110	24,311
Other assets	1,985	5,038
Assets held for sale		0
Total assets	23,344	29,556
LIABILITIES AND EQUITY
Current liabilities, other than liabilities held for sale	3,895	6,012
Current liabilities held for sale	0	0
Long-term debt, less current portion	12,517	14,735
Deferred income taxes	826	941
Environmental and asset retirement obligations, less current portion	0	0
Investments in consolidated subsidiary	0	0
Other liabilities	55	40
Liabilities held for sale		0
Total liabilities	17,293	21,728
Redeemable noncontrolling interest		0
Equity:
Stockholders' equity	6,051	7,828
Noncontrolling interests	0	0
Total equity	6,051	7,828
Total liabilities and equity	23,344	29,556
FM O&G LLC Guarantor | Reportable Legal Entities
ASSETS
Current assets, other than assets held for sale	1,790	3,831
Current assets held for sale	0	0
Property, plant, equipment and mine development costs, net	24	57
Oil and gas properties, net - full cost method:
Subject to amortization, less accumulated amortization and impairments	0	710
Not subject to amortization		1,393
Investments in consolidated subsidiaries	0	0
Other assets	47	1,826
Assets held for sale		0
Total assets	1,861	7,817
LIABILITIES AND EQUITY
Current liabilities, other than liabilities held for sale	308	666
Current liabilities held for sale	0	0
Long-term debt, less current portion	6,062	5,883
Deferred income taxes	0	0
Environmental and asset retirement obligations, less current portion	200	305
Investments in consolidated subsidiary	893	0
Other liabilities	3,393	3,360
Liabilities held for sale		0
Total liabilities	10,856	10,214
Redeemable noncontrolling interest		0
Equity:
Stockholders' equity	(8,995)	(2,397)
Noncontrolling interests	0	0
Total equity	(8,995)	(2,397)
Total liabilities and equity	1,861	7,817
Non-Guarantor Subsidiaries | Reportable Legal Entities
ASSETS
Current assets, other than assets held for sale	11,331	10,062
Current assets held for sale	344	920
Property, plant, equipment and mine development costs, net	23,176	23,903
Oil and gas properties, net - full cost method:
Subject to amortization, less accumulated amortization and impairments	74	1,552
Not subject to amortization		3,432
Investments in consolidated subsidiaries	0	0
Other assets	3,522	3,584
Assets held for sale		4,386
Total assets	38,447	47,839
LIABILITIES AND EQUITY
Current liabilities, other than liabilities held for sale	3,101	5,024
Current liabilities held for sale	205	131
Long-term debt, less current portion	11,297	11,490
Deferred income taxes	2,942	2,626
Environmental and asset retirement obligations, less current portion	3,287	3,409
Investments in consolidated subsidiary	8,995	2,397
Other liabilities	1,784	1,732
Liabilities held for sale		865
Total liabilities	31,611	27,674
Redeemable noncontrolling interest		764
Equity:
Stockholders' equity	4,237	15,725
Noncontrolling interests	2,599	3,676
Total equity	6,836	19,401
Total liabilities and equity	$ 38,447	$ 47,839

GUARANTOR FINANCIAL STATEMEN116

GUARANTOR FINANCIAL STATEMENTS (Condensed Consolidating Comprehensive (Loss) Income) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Condensed Comprehensive (Loss) Income Statements [Line Items]
Revenues	$ 4,377	$ 3,877	$ 3,334	$ 3,242	$ 3,516	$ 3,382	$ 3,938	$ 3,771	$ 14,830	$ 14,607	$ 20,001
Costs and Expenses									17,622	28,119	20,299
Operating income (loss)	703	359	18	(3,872)	(4,097)	(3,964)	(2,421)	(3,030)	(2,792)	(13,512)	(298)
Interest expense, net									(755)	(617)	(606)
Other income, net									49	1	31
Net gain on exchanges and early extinguishment of debt									26	0	73
(Loss) income before income taxes and equity in affiliated companies' net (losses) earnings									(3,472)	(14,128)	(800)
Benefit from (provision for) income taxes									(371)	1,951	(225)
Equity in affiliated companies’ net earnings (losses)									11	(3)	3
Net loss from continuing operations	202	292	(229)	(4,097)	(4,090)	(3,815)	(1,828)	(2,447)	(3,832)	(12,180)	(1,022)
Net (loss) income from discontinued operations	(2)	(6)	(181)	(4)	(4)	25	29	41	(193)	91	277
Net loss	200	286	(410)	(4,101)	(4,094)	(3,790)	(1,799)	(2,406)	(4,025)	(12,089)	(745)
Income (Loss) From Continuing Operations Attributable to Noncontrolling Entity and Preferred Dividends									66	68	398
Net income (loss) attributable to noncontrolling interests: Discontinued Operations	19	22	12	10	11	16	26	26	63	79	165
Net (loss) income attributable to common stockholders	$ 292	$ 217	$ (479)	$ (4,184)	$ (4,081)	$ (3,830)	$ (1,851)	$ (2,474)	(4,154)	(12,236)	(1,308)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent									(45)	41	(139)
Total comprehensive income (loss)									(4,199)	(12,195)	(1,447)
Eliminations
Condensed Comprehensive (Loss) Income Statements [Line Items]
Revenues									0	0	0
Costs and Expenses									10	(11)	22
Operating income (loss)									(10)	11	(22)
Interest expense, net									333	152	80
Other income, net									(292)	(139)	(80)
Net gain on exchanges and early extinguishment of debt									0		0
(Loss) income before income taxes and equity in affiliated companies' net (losses) earnings									31	24	(22)
Benefit from (provision for) income taxes									(12)	(9)	8
Equity in affiliated companies’ net earnings (losses)									9,511	31,496	9,072
Net loss from continuing operations									9,530	31,511	9,058
Net (loss) income from discontinued operations									(39)	0	0
Net loss									9,491	31,511	9,058
Income (Loss) From Continuing Operations Attributable to Noncontrolling Entity and Preferred Dividends									66	33	44
Net income (loss) attributable to noncontrolling interests: Discontinued Operations									0	0	0
Net (loss) income attributable to common stockholders									9,425	31,478	9,014
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent									45	(41)	139
Total comprehensive income (loss)									9,470	31,437	9,153
FCX Issuer | Reportable Legal Entities
Condensed Comprehensive (Loss) Income Statements [Line Items]
Revenues									0	0	0
Costs and Expenses									75	60	59
Operating income (loss)									(75)	(60)	(59)
Interest expense, net									(534)	(489)	(382)
Other income, net									271	225	72
Net gain on exchanges and early extinguishment of debt									26		(5)
(Loss) income before income taxes and equity in affiliated companies' net (losses) earnings									(312)	(324)	(374)
Benefit from (provision for) income taxes									(2,233)	(3,227)	96
Equity in affiliated companies’ net earnings (losses)									(1,609)	(8,685)	(1,007)
Net loss from continuing operations									(4,154)	(12,236)	(1,285)
Net (loss) income from discontinued operations									0	0	(23)
Net loss									(4,154)	(12,236)	(1,308)
Income (Loss) From Continuing Operations Attributable to Noncontrolling Entity and Preferred Dividends									0	0	0
Net income (loss) attributable to noncontrolling interests: Discontinued Operations									0	0	0
Net (loss) income attributable to common stockholders									(4,154)	(12,236)	(1,308)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent									(45)	41	(139)
Total comprehensive income (loss)									(4,199)	(12,195)	(1,447)
FM O&G LLC Guarantor
Condensed Comprehensive (Loss) Income Statements [Line Items]
Impairment of oil and gas properties and goodwill									1,500	4,200	1,900
FM O&G LLC Guarantor | Reportable Legal Entities
Condensed Comprehensive (Loss) Income Statements [Line Items]
Revenues									379	613	2,356
Costs and Expenses									3,074	5,150	3,498
Operating income (loss)									(2,695)	(4,537)	(1,142)
Interest expense, net									(56)	(8)	(139)
Other income, net									0	1	3
Net gain on exchanges and early extinguishment of debt									0		78
(Loss) income before income taxes and equity in affiliated companies' net (losses) earnings									(2,751)	(4,544)	(1,200)
Benefit from (provision for) income taxes									1,053	1,718	281
Equity in affiliated companies’ net earnings (losses)									(3,101)	(9,976)	(3,429)
Net loss from continuing operations									(4,799)	(12,802)	(4,348)
Net (loss) income from discontinued operations									0	0	0
Net loss									(4,799)	(12,802)	(4,348)
Income (Loss) From Continuing Operations Attributable to Noncontrolling Entity and Preferred Dividends									0	0	0
Net income (loss) attributable to noncontrolling interests: Discontinued Operations									0	0	0
Net (loss) income attributable to common stockholders									(4,799)	(12,802)	(4,348)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent									0	0	0
Total comprehensive income (loss)									(4,799)	(12,802)	(4,348)
Non-Guarantor Subsidiaries
Condensed Comprehensive (Loss) Income Statements [Line Items]
Impairment of oil and gas properties and goodwill									2,800	8,900	3,500
Non-Guarantor Subsidiaries | Reportable Legal Entities
Condensed Comprehensive (Loss) Income Statements [Line Items]
Revenues									14,451	13,994	17,645
Costs and Expenses									14,463	22,920	16,720
Operating income (loss)									(12)	(8,926)	925
Interest expense, net									(498)	(272)	(165)
Other income, net									70	(86)	36
Net gain on exchanges and early extinguishment of debt									0		0
(Loss) income before income taxes and equity in affiliated companies' net (losses) earnings									(440)	(9,284)	796
Benefit from (provision for) income taxes									821	3,469	(610)
Equity in affiliated companies’ net earnings (losses)									(4,790)	(12,838)	(4,633)
Net loss from continuing operations									(4,409)	(18,653)	(4,447)
Net (loss) income from discontinued operations									(154)	91	300
Net loss									(4,563)	(18,562)	(4,147)
Income (Loss) From Continuing Operations Attributable to Noncontrolling Entity and Preferred Dividends									0	35	354
Net income (loss) attributable to noncontrolling interests: Discontinued Operations									63	79	165
Net (loss) income attributable to common stockholders									(4,626)	(18,676)	(4,666)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent									(45)	41	(139)
Total comprehensive income (loss)									$ (4,671)	$ (18,635)	$ (4,805)

GUARANTOR FINANCIAL STATEMEN117

GUARANTOR FINANCIAL STATEMENTS (Condensed Consolidated Cash Flow Statement) (Details) - USD ($) $ in Millions	3 Months Ended									6 Months Ended	12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash flow from operating activities:
Net loss	$ 200	$ 286	$ (410)	$ (4,101)	$ (4,094)	$ (3,790)	$ (1,799)	$ (2,406)			$ (4,025)	$ (12,089)	$ (745)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, depletion and amortization											2,610	3,497	3,863
Impairment of Oil and Gas Properties		239	291	3,800	3,700	3,700	2,700	3,100			4,317	13,144	3,737
Non-cash oil and gas drillship settlements											689	0	0
Net gain on sales of assets											(649)	(39)	(717)
Metals inventory adjustments	9	$ 20	$ 2	5	184	$ 91	$ 59	4			36	338	6
Equity in affiliated companies’ net earnings (losses)											11	(3)	3
Other asset impairments, oil and gas inventory adjustments, and restructuring											134	256	18
Impairment of Oil and Gas Properties and Goodwill											4,317	13,144	5,454
Gain (Loss) on Derivative Instruments, Net, Pretax											(35)	87	504
Other, net											741	(2,215)	(1,802)
Changes in working capital and other tax payments, excluding amounts from dispositions											57	373	(632)
Net cash (used in) provided by operating activities											3,729	3,220	5,631
Cash flow from investing activities:
Capital expenditures											(2,813)	(6,353)	(7,215)
Acquisitions of Deepwater Gulf of Mexico interests											0	0	(1,426)
Intercompany loans											0	0	0
Dividends from (investments in) consolidated subsidiaries											0	(2)	0
Proceeds From Divestiture Of Business And Interests In Affiliates And Proceeds From Sale Of Other Assets											6,355
Other, net											8	109	221
Net cash provided by (used in) investing activities											3,550	(6,246)	(3,801)
Cash flow from financing activities:
Proceeds from debt											3,681	8,272	8,710
Repayments of debt											(7,625)	(6,677)	(10,306)
Intercompany loans											0	0	0
Net proceeds from sale of common stock											1,515	1,936	0
Cash dividends and distributions paid, including redemption											(699)	(725)	(1,729)
Other, net											(38)	(20)	(26)
Net cash (used in) provided by financing activities											(3,166)	2,786	(3,351)
Net decrease in cash and cash equivalents											4,113	(240)	(1,521)
(Increase) decrease in cash and cash equivalents in assets held for sale											(45)	119	(45)
Cash and cash equivalents at beginning of year				177				298		$ 1,864	177	298	1,864
Cash and cash equivalents at end of year	4,245				177				$ 298		4,245	177	298
Candelaria and Ojos del Salado mines
Adjustments to reconcile net loss to net cash provided by operating activities:
Net gain on sales of assets									(671)
Cash flow from investing activities:
Proceeds from sales											0	0	1,709
Eagle Ford shale assets
Cash flow from investing activities:
Proceeds from sales										3,100	0	0	2,910
Reportable Legal Entities | FCX Issuer
Cash flow from operating activities:
Net loss											(4,154)	(12,236)	(1,308)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, depletion and amortization											5	5	4
Impairment of Oil and Gas Properties											0	0
Non-cash oil and gas drillship settlements											0
Net gain on sales of assets											0
Metals inventory adjustments												0
Equity in affiliated companies’ net earnings (losses)											(1,609)	(8,685)	(1,007)
Other asset impairments, oil and gas inventory adjustments, and restructuring												0
Impairment of Oil and Gas Properties and Goodwill													0
Gain (Loss) on Derivative Instruments, Net, Pretax												0	0
Other, net											(95)	(2,127)	(882)
Changes in working capital and other tax payments, excluding amounts from dispositions											2,498	5,506	723
Net cash (used in) provided by operating activities											(137)	(167)	(456)
Cash flow from investing activities:
Capital expenditures											0	(7)	0
Acquisitions of Deepwater Gulf of Mexico interests													0
Intercompany loans											481	(1,812)	(1,328)
Dividends from (investments in) consolidated subsidiaries											1,469	852	1,221
Proceeds From Divestiture Of Business And Interests In Affiliates And Proceeds From Sale Of Other Assets											2
Other, net											0	(21)	0
Net cash provided by (used in) investing activities											1,952	(988)	(107)
Cash flow from financing activities:
Proceeds from debt											1,721	4,503	7,464
Repayments of debt											(5,011)	(4,660)	(5,575)
Intercompany loans											0	0	0
Net proceeds from sale of common stock											1,515	1,936
Cash dividends and distributions paid, including redemption											(6)	(605)	(1,305)
Other, net											(34)	(19)	(21)
Net cash (used in) provided by financing activities											(1,815)	1,155	563
Net decrease in cash and cash equivalents											0	0	0
(Increase) decrease in cash and cash equivalents in assets held for sale											0	0	0
Cash and cash equivalents at beginning of year				0				0		0	0	0	0
Cash and cash equivalents at end of year	0				0				0		0	0	0
Reportable Legal Entities | FCX Issuer | Candelaria and Ojos del Salado mines
Cash flow from investing activities:
Proceeds from sales													0
Reportable Legal Entities | FCX Issuer | Eagle Ford shale assets
Cash flow from investing activities:
Proceeds from sales													0
Reportable Legal Entities | FM O&G LLC Guarantor
Cash flow from operating activities:
Net loss											(4,799)	(12,802)	(4,348)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, depletion and amortization											192	370	806
Impairment of Oil and Gas Properties											1,531	4,220
Non-cash oil and gas drillship settlements											689
Net gain on sales of assets											(86)
Metals inventory adjustments												0
Equity in affiliated companies’ net earnings (losses)											(3,101)	(9,976)	(3,429)
Other asset impairments, oil and gas inventory adjustments, and restructuring												11
Impairment of Oil and Gas Properties and Goodwill													1,922
Gain (Loss) on Derivative Instruments, Net, Pretax												87	504
Other, net											30	2	(113)
Changes in working capital and other tax payments, excluding amounts from dispositions											(929)	(1,428)	(1,750)
Net cash (used in) provided by operating activities											(271)	262	(558)
Cash flow from investing activities:
Capital expenditures											(567)	(847)	(2,143)
Acquisitions of Deepwater Gulf of Mexico interests													0
Intercompany loans											(346)	(1,310)	704
Dividends from (investments in) consolidated subsidiaries											(45)	(71)	(130)
Proceeds From Divestiture Of Business And Interests In Affiliates And Proceeds From Sale Of Other Assets											1,670
Other, net											3	(2)	41
Net cash provided by (used in) investing activities											715	(2,230)	1,382
Cash flow from financing activities:
Proceeds from debt											0	0	0
Repayments of debt											0	0	(3,994)
Intercompany loans											(332)	2,038	810
Net proceeds from sale of common stock											0	0
Cash dividends and distributions paid, including redemption											(107)	0	2,364
Other, net											(3)	(71)	(3)
Net cash (used in) provided by financing activities											(442)	1,967	(823)
Net decrease in cash and cash equivalents											2	(1)	1
(Increase) decrease in cash and cash equivalents in assets held for sale											0	0	0
Cash and cash equivalents at beginning of year				0				1		0	0	1	0
Cash and cash equivalents at end of year	2				0				1		2	0	1
Reportable Legal Entities | FM O&G LLC Guarantor | Candelaria and Ojos del Salado mines
Cash flow from investing activities:
Proceeds from sales													0
Reportable Legal Entities | FM O&G LLC Guarantor | Eagle Ford shale assets
Cash flow from investing activities:
Proceeds from sales													2,910
Reportable Legal Entities | Non-Guarantor Subsidiaries
Cash flow from operating activities:
Net loss											(4,563)	(18,562)	(4,147)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, depletion and amortization											2,430	3,195	3,077
Impairment of Oil and Gas Properties											2,765	8,862
Non-cash oil and gas drillship settlements											0
Net gain on sales of assets											(567)
Metals inventory adjustments												338
Equity in affiliated companies’ net earnings (losses)											(4,790)	(12,838)	(4,633)
Other asset impairments, oil and gas inventory adjustments, and restructuring												245
Impairment of Oil and Gas Properties and Goodwill													3,486
Gain (Loss) on Derivative Instruments, Net, Pretax												0	0
Other, net											807	(90)	(807)
Changes in working capital and other tax payments, excluding amounts from dispositions											(1,527)	(3,714)	395
Net cash (used in) provided by operating activities											4,135	3,112	6,637
Cash flow from investing activities:
Capital expenditures											(2,248)	(5,486)	(5,072)
Acquisitions of Deepwater Gulf of Mexico interests													(1,426)
Intercompany loans											0	0	0
Dividends from (investments in) consolidated subsidiaries											176	130	(2,408)
Proceeds From Divestiture Of Business And Interests In Affiliates And Proceeds From Sale Of Other Assets											4,687
Other, net											5	111	180
Net cash provided by (used in) investing activities											2,620	(5,245)	(7,017)
Cash flow from financing activities:
Proceeds from debt											1,960	3,769	1,246
Repayments of debt											(2,614)	(2,017)	(737)
Intercompany loans											197	1,084	(186)
Net proceeds from sale of common stock											3,388	0
Cash dividends and distributions paid, including redemption											(5,555)	(924)	(1,463)
Other, net											(20)	(18)	(2)
Net cash (used in) provided by financing activities											(2,644)	1,894	(1,142)
Net decrease in cash and cash equivalents											4,111	(239)	(1,522)
(Increase) decrease in cash and cash equivalents in assets held for sale											(45)	119	(45)
Cash and cash equivalents at beginning of year				177				297		1,864	177	297	1,864
Cash and cash equivalents at end of year	4,243				177				297		4,243	177	297
Reportable Legal Entities | Non-Guarantor Subsidiaries | Candelaria and Ojos del Salado mines
Cash flow from investing activities:
Proceeds from sales													1,709
Reportable Legal Entities | Non-Guarantor Subsidiaries | Eagle Ford shale assets
Cash flow from investing activities:
Proceeds from sales													0
Eliminations
Cash flow from operating activities:
Net loss											9,491	31,511	9,058
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, depletion and amortization											(17)	(73)	(24)
Impairment of Oil and Gas Properties											21	62
Non-cash oil and gas drillship settlements											0
Net gain on sales of assets											4
Metals inventory adjustments												0
Equity in affiliated companies’ net earnings (losses)											9,511	31,496	9,072
Other asset impairments, oil and gas inventory adjustments, and restructuring												0
Impairment of Oil and Gas Properties and Goodwill													46
Gain (Loss) on Derivative Instruments, Net, Pretax												0	0
Other, net											(1)	0	0
Changes in working capital and other tax payments, excluding amounts from dispositions											15	9	0
Net cash (used in) provided by operating activities											2	13	8
Cash flow from investing activities:
Capital expenditures											2	(13)	0
Acquisitions of Deepwater Gulf of Mexico interests													0
Intercompany loans											(135)	3,122	624
Dividends from (investments in) consolidated subsidiaries											(1,600)	(913)	1,317
Proceeds From Divestiture Of Business And Interests In Affiliates And Proceeds From Sale Of Other Assets											(4)
Other, net											0	21	0
Net cash provided by (used in) investing activities											(1,737)	2,217	1,941
Cash flow from financing activities:
Proceeds from debt											0	0	0
Repayments of debt											0	0	0
Intercompany loans											135	(3,122)	(624)
Net proceeds from sale of common stock											(3,388)	0
Cash dividends and distributions paid, including redemption											4,969	804	(1,325)
Other, net											19	88	0
Net cash (used in) provided by financing activities											1,735	(2,230)	(1,949)
Net decrease in cash and cash equivalents											0	0	0
(Increase) decrease in cash and cash equivalents in assets held for sale											0	0	0
Cash and cash equivalents at beginning of year				$ 0				$ 0		$ 0	0	0	0
Cash and cash equivalents at end of year	$ 0				$ 0				$ 0		$ 0	$ 0	0
Eliminations | Candelaria and Ojos del Salado mines
Cash flow from investing activities:
Proceeds from sales													0
Eliminations | Eagle Ford shale assets
Cash flow from investing activities:
Proceeds from sales													$ 0

QUARTERLY FINANCIAL INFORMAT118

QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Quarterly Disclosures) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 4,377	$ 3,877	$ 3,334	$ 3,242	$ 3,516	$ 3,382	$ 3,938	$ 3,771	$ 14,830	$ 14,607	$ 20,001
Operating income (loss)	703	359	18	(3,872)	(4,097)	(3,964)	(2,421)	(3,030)	(2,792)	(13,512)	(298)
Net (loss) income from continuing operations	202	292	(229)	(4,097)	(4,090)	(3,815)	(1,828)	(2,447)	(3,832)	(12,180)	(1,022)
Net (loss) income from discontinued operations	(2)	(6)	(181)	(4)	(4)	25	29	41	(193)	91	277
Net (loss) income	200	286	(410)	(4,101)	(4,094)	(3,790)	(1,799)	(2,406)	(4,025)	(12,089)	(745)
Net loss (income) and preferred dividends attributable to noncontrolling interests	111	(47)	(57)	(73)	24	(24)	(26)	(42)	(66)	(68)
Net income from discontinued operations attributable to noncontrolling interests	(19)	(22)	(12)	(10)	(11)	(16)	(26)	(26)	(63)	(79)	(165)
Net (loss) income attributable to common stockholders	$ 292	$ 217	$ (479)	$ (4,184)	$ (4,081)	$ (3,830)	$ (1,851)	$ (2,474)	$ (4,154)	$ (12,236)	$ (1,308)
Continuing operations (in dollars per share)	$ 0.22	$ 0.18	$ (0.23)	$ (3.34)	$ (3.46)	$ (3.59)	$ (1.78)	$ (2.40)	$ (2.96)	$ (11.32)	$ (1.37)
Discontinued operations (in dollars per share)	(0.01)	(0.02)	(0.15)	(0.01)	(0.01)	0.01	0	0.02	(0.20)	0.01	0.11
Earnings per share, basic and diluted (in dollars per share)	$ 0.21	$ 0.16	$ (0.38)	$ (3.35)	$ (3.47)	$ (3.58)	$ (1.78)	$ (2.38)	$ (3.16)	$ (11.31)	$ (1.26)

QUARTERLY FINANCIAL INFORMAT119

QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Footnotes) (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Schedule of Quarterly Financial Information [Line Items]
Loss on derivative instruments										$ 35	$ (87)	$ (504)
Oil and Gas Idle rig costs, inventory adjustments, asset impairments and other		$ 142	$ 50	$ 729	$ 201	$ 129	$ 21	$ 22	$ 17	$ 1,100	188
Oil and Gas Idle Rig Costs, Inventory Adjustments, Asset Impairments and Other, Net of Taxes						$ 81	$ 13	$ 14	$ 10		$ 117
Oil and Gas Idle Rig Costs, Inventory Adjustments, Asset Impairments and Other, Amount per Share		$ 0.09	$ 0.03	$ 0.57	$ 0.16	$ 0.07	$ 0.01	$ 0.01	$ 0.01	$ 0.84	$ 0.11
Metals inventory adjustments		$ (9)	$ (20)	$ (2)	$ (5)	$ (184)	$ (91)	$ (59)	$ (4)	$ (36)	$ (338)	(6)
Metal inventory adjustment, net of tax						$ 118	$ 58	$ 38	3		$ 217
Metal inventory adjustment (usd per share)		$ 0.01	$ 0.01			$ 0.10	$ 0.05	$ 0.04		$ 0.03	$ 0.20
Impairment of oil and gas properties			$ 239	$ 291	$ 3,800	$ 3,700	$ 3,700	$ 2,700	3,100	$ 4,317	$ 13,144	3,737
Impairment of oil and gas properties, net of tax						$ 3,700	$ 3,500	$ 2,000	$ 2,400		$ 11,600
Impairment of oil and gas properties (usd per share)			$ 0.18	$ 0.23	$ 3.03	$ 3.18	$ 3.25	$ 1.90	$ 2.31	$ 3.28	$ 10.72
Net gain on sales of assets		$ (113)		$ 13	$ 749				$ 39	$ 649	$ 39	$ 717
Net gains on sales of assets, net of tax		$ (108)		$ 13	$ 744				$ 25	$ 649	$ 25
Net gains on sales of assets (usd per share)		$ (0.08)		$ 0.01	$ 0.59				$ 0.02	$ 0.49	$ 0.02
Restructuring and asset impairment charges		$ 16	$ 17			$ 53	$ 92			$ 33	$ 145
Restructuring and asset impairment charges, net of tax		5	$ 9			$ 34	$ 56			$ 14	$ 90
Restructuring and asset impairment charges (usd per share)			$ 0.01			$ 0.03	$ 0.05			$ 0.01	$ 0.08
Gain (loss) on exchange and early extinguishment of debt		$ (25)	$ 15	$ 39	$ (3)					$ 26
Gain (loss) on exchange and early extinguishment of debt (usd per share)		$ (0.02)	$ 0.01	$ 0.03						$ 0.02
Gain on proceeds received from insurance								$ 92
Gain on proceeds received from insurance (usd per share)								$ 0.09
Earnings per share, basic and diluted (in dollars per share)		$ 0.21	$ 0.16	$ (0.38)	$ (3.35)	$ (3.47)	$ (3.58)	$ (1.78)	$ (2.38)	$ (3.16)	$ (11.31)	$ (1.26)
TF Holdings Limited | Disposed of by Sale, Discontinued Operations
Schedule of Quarterly Financial Information [Line Items]
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax		$ (16)	$ (5)	$ (177)						$ (198)
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax, Per Basic and Diluted Share		$ (0.01)		$ (0.14)						$ (0.15)
Freeport-McMoRan Oil & Gas | Deepwater Gulf of Mexico and onshore California oil and gas properties
Schedule of Quarterly Financial Information [Line Items]
Gain on redemption of preferred stock	$ 199	$ 199								$ 199
Gain (Loss) on Disposition of Stock in Subsidiary or Equity Method Investee, Amount Per Share		$ 0.14								$ 0.15
Crude Oil and Natural Gas Swaps [Member]
Schedule of Quarterly Financial Information [Line Items]
Loss on derivative instruments		$ 41				$ 102	$ 74	$ 95	$ 48	$ 41	$ 319
Loss on derivative instruments, net of tax		$ 41				$ 63	$ 46	$ 59	$ 30	$ 41	$ 198
Loss on derivative instruments (usd per share)		$ 0.03				$ 0.05	$ 0.04	$ 0.06	$ 0.03	$ 0.03	$ 0.18

SUPPLEMENTARY MINERAL RESERV120

SUPPLEMENTARY MINERAL RESERVE INFORMATION (UNAUDITED) (Details) oz in Millions, lb in Millions	Dec. 31, 2016USD ($)lboz$ / lb
Copper
Estimated Recoverable Proven And Probable Reserves | lb	104,600
Long Term Average Price Used To Estimate Recoverable Reserves	$ 2
Three Year Average Price | $ / lb	2.60
Gold
Estimated Recoverable Proven And Probable Reserves | oz	37.6
Long Term Average Price Used To Estimate Recoverable Reserves	$ 1,000
Three Year Average Price | $ / lb	1,226
Molybdenum
Estimated Recoverable Proven And Probable Reserves | lb	2,990
Long Term Average Price Used To Estimate Recoverable Reserves	$ 10
Three Year Average Price | $ / lb	8.18
Silver
Long Term Average Price Used To Estimate Recoverable Reserves	$ 15

SUPPLEMENTARY MINERAL RESERV121

SUPPLEMENTARY MINERAL RESERVE INFORMATION (UNAUDITED) (Recoverable Reserves) (Details) oz in Millions, lb in Millions	Dec. 31, 2016USD ($)lboz
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated recoverable proven and probable copper reserves in leach stockpiles (in pounds)	2,200
Estimated recoverable proven and probable copper reserves in mill stockpiles (in pounds)	1,000
Copper
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	104,600
Long Term Average Price Used To Estimate Recoverable Reserves | $	$ 2
Gold (ounces) [Member]
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	37.6
Long Term Average Price Used To Estimate Recoverable Reserves | $	$ 1,000
Molybdenum mines
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	2,990
Long Term Average Price Used To Estimate Recoverable Reserves | $	$ 10
Silver
Estimated Recoverable Proven and Probable Reserves [Line Items]
Long Term Average Price Used To Estimate Recoverable Reserves | $	$ 15
Net Equity Interest [Member] | Copper
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	70,500
Net Equity Interest [Member] | Gold (ounces) [Member]
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	23.7
Net Equity Interest [Member] | Molybdenum mines
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	2,650
Net Equity Interest [Member] | Silver
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	226
Consolidated Basis [Member] | Copper
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	86,800
Consolidated Basis [Member] | Copper | North America
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	30,400
Consolidated Basis [Member] | Copper | South America
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	29,500
Consolidated Basis [Member] | Copper | Indonesia
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	26,900
Consolidated Basis [Member] | Gold (ounces) [Member]
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	26.1
Consolidated Basis [Member] | Gold (ounces) [Member] | North America
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	0.3
Consolidated Basis [Member] | Gold (ounces) [Member] | South America
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	0
Consolidated Basis [Member] | Gold (ounces) [Member] | Indonesia
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	25.8
Consolidated Basis [Member] | Molybdenum mines
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	2,950
Consolidated Basis [Member] | Molybdenum mines | North America
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	2,310
Consolidated Basis [Member] | Molybdenum mines | South America
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	640
Consolidated Basis [Member] | Molybdenum mines | Indonesia
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	0
Consolidated Basis [Member] | Silver
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	281.8

SUPPLEMENTARY MINERAL RESERV122

SUPPLEMENTARY MINERAL RESERVE INFORMATION (UNAUDITED) (Ore Reserves) (Details) oz in Millions, lb in Millions, T in Millions	Dec. 31, 2016lbozTg
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Amount of ore reserves (in metric tons of ore) | T	13,723
Copper
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	104,600
Copper | Consolidated Basis [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	86,800
Copper | Net Equity Interest [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	70,500
Gold
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	37.6
Gold | Consolidated Basis [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	26.1
Gold | Net Equity Interest [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	23.7
Molybdenum
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	2,990
Molybdenum | Consolidated Basis [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	2,950
Molybdenum | Net Equity Interest [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	2,650
Morenci | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Amount of ore reserves (in metric tons of ore) | T	3,274
Average ore grade of copper per metric ton	0.27%
Average ore grade of gold per metric ton (in grams per metric ton) | g	0
Average ore grade of molybdenum per metric ton	0.00%
Morenci | Copper | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	12,800
Morenci | Gold | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	0
Morenci | Molybdenum | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	150
Bagdad [Member] | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Amount of ore reserves (in metric tons of ore) | T	1,244
Average ore grade of copper per metric ton	0.32%
Average ore grade of gold per metric ton (in grams per metric ton) | g	0
Average ore grade of molybdenum per metric ton	0.02%
Bagdad [Member] | Copper | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	7,400
Bagdad [Member] | Gold | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	0.1
Bagdad [Member] | Molybdenum | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	360
Safford [Member] | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Amount of ore reserves (in metric tons of ore) | T	75
Average ore grade of copper per metric ton	0.31%
Average ore grade of gold per metric ton (in grams per metric ton) | g	0
Average ore grade of molybdenum per metric ton	0.00%
Safford [Member] | Copper | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	600
Safford [Member] | Gold | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	0
Safford [Member] | Molybdenum | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	0
Sierrita [Member] | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Amount of ore reserves (in metric tons of ore) | T	2,434
Average ore grade of copper per metric ton	0.23%
Average ore grade of gold per metric ton (in grams per metric ton) | g	0
Average ore grade of molybdenum per metric ton	0.02%
Sierrita [Member] | Copper | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	10,400
Sierrita [Member] | Gold | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	0.1
Sierrita [Member] | Molybdenum | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	1,040
Tyrone [Member] | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Amount of ore reserves (in metric tons of ore) | T	6
Average ore grade of copper per metric ton	0.51%
Average ore grade of gold per metric ton (in grams per metric ton) | g	0
Average ore grade of molybdenum per metric ton	0.00%
Tyrone [Member] | Copper | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	200
Tyrone [Member] | Gold | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	0
Tyrone [Member] | Molybdenum | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	0
Chino [Member] | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Amount of ore reserves (in metric tons of ore) | T	226
Average ore grade of copper per metric ton	0.47%
Average ore grade of gold per metric ton (in grams per metric ton) | g	0.02
Average ore grade of molybdenum per metric ton	0.00%
Chino [Member] | Copper | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	2,100
Chino [Member] | Gold | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	0.1
Chino [Member] | Molybdenum | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	10
Miami [Member] | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Amount of ore reserves (in metric tons of ore) | T	0
Average ore grade of copper per metric ton	0.00%
Average ore grade of gold per metric ton (in grams per metric ton) | g	0
Average ore grade of molybdenum per metric ton	0.00%
Miami [Member] | Copper | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	100
Miami [Member] | Gold | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	0
Miami [Member] | Molybdenum | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	0
Henderson [Member] | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Amount of ore reserves (in metric tons of ore) | T	77
Average ore grade of copper per metric ton	0.00%
Average ore grade of gold per metric ton (in grams per metric ton) | g	0
Average ore grade of molybdenum per metric ton	0.17%
Henderson [Member] | Copper | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	0
Henderson [Member] | Gold | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	0
Henderson [Member] | Molybdenum | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	250
Climax [Member] | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Amount of ore reserves (in metric tons of ore) | T	170
Average ore grade of copper per metric ton	0.00%
Average ore grade of gold per metric ton (in grams per metric ton) | g	0
Average ore grade of molybdenum per metric ton	0.15%
Climax [Member] | Copper | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	0
Climax [Member] | Gold | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	0
Climax [Member] | Molybdenum | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	540
Cobre [Member] | Undeveloped [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Amount of ore reserves (in metric tons of ore) | T	86
Average ore grade of copper per metric ton	0.34%
Average ore grade of gold per metric ton (in grams per metric ton) | g	0
Average ore grade of molybdenum per metric ton	0.00%
Cobre [Member] | Copper | Undeveloped [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	400
Cobre [Member] | Gold | Undeveloped [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	0
Cobre [Member] | Molybdenum | Undeveloped [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	0
Cerro Verde | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Amount of ore reserves (in metric tons of ore) | T	3,673
Average ore grade of copper per metric ton	0.37%
Average ore grade of gold per metric ton (in grams per metric ton) | g	0
Average ore grade of molybdenum per metric ton	0.01%
Cerro Verde | Copper | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	26,700
Cerro Verde | Gold | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	0
Cerro Verde | Molybdenum | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	640
El Abra | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Amount of ore reserves (in metric tons of ore) | T	431
Average ore grade of copper per metric ton	0.45%
Average ore grade of gold per metric ton (in grams per metric ton) | g	0
Average ore grade of molybdenum per metric ton	0.00%
El Abra | Copper | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	2,800
El Abra | Gold | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	0
El Abra | Molybdenum | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	0
Grasberg open pit [Member] | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Amount of ore reserves (in metric tons of ore) | T	56
Average ore grade of copper per metric ton	1.26%
Average ore grade of gold per metric ton (in grams per metric ton) | g	2.11
Average ore grade of molybdenum per metric ton	0.00%
Grasberg open pit [Member] | Copper | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	1,700
Grasberg open pit [Member] | Gold | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	3.4
Grasberg open pit [Member] | Molybdenum | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	0
Deep Ore Zone [Member] | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Amount of ore reserves (in metric tons of ore) | T	100
Average ore grade of copper per metric ton	0.51%
Average ore grade of gold per metric ton (in grams per metric ton) | g	0.70
Average ore grade of molybdenum per metric ton	0.00%
Deep Ore Zone [Member] | Copper | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	1,000
Deep Ore Zone [Member] | Gold | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	1.8
Deep Ore Zone [Member] | Molybdenum | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	0
Big Gossan [Member] | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Amount of ore reserves (in metric tons of ore) | T	60
Average ore grade of copper per metric ton	2.19%
Average ore grade of gold per metric ton (in grams per metric ton) | g	0.97
Average ore grade of molybdenum per metric ton	0.00%
Big Gossan [Member] | Copper | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	2,600
Big Gossan [Member] | Gold | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	1.3
Big Gossan [Member] | Molybdenum | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	0
Grasberg block cave [Member] | Undeveloped [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Amount of ore reserves (in metric tons of ore) | T	964
Average ore grade of copper per metric ton	1.03%
Average ore grade of gold per metric ton (in grams per metric ton) | g	0.78
Average ore grade of molybdenum per metric ton	0.00%
Grasberg block cave [Member] | Copper | Undeveloped [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	18,500
Grasberg block cave [Member] | Gold | Undeveloped [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	15.7
Grasberg block cave [Member] | Molybdenum | Undeveloped [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	0
Kucing Liar [Member] | Undeveloped [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Amount of ore reserves (in metric tons of ore) | T	408
Average ore grade of copper per metric ton	1.26%
Average ore grade of gold per metric ton (in grams per metric ton) | g	1.10
Average ore grade of molybdenum per metric ton	0.00%
Kucing Liar [Member] | Copper | Undeveloped [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	9,700
Kucing Liar [Member] | Gold | Undeveloped [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	6.7
Kucing Liar [Member] | Molybdenum | Undeveloped [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	0
Deep Mill Level Zone [Member] | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Amount of ore reserves (in metric tons of ore) | T	439
Average ore grade of copper per metric ton	0.90%
Average ore grade of gold per metric ton (in grams per metric ton) | g	0.75
Average ore grade of molybdenum per metric ton	0.00%
Deep Mill Level Zone [Member] | Copper | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	7,600
Deep Mill Level Zone [Member] | Gold | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	8.4
Deep Mill Level Zone [Member] | Molybdenum | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	0

SUPPLEMENTARY OIL AND GAS IN123

SUPPLEMENTARY OIL AND GAS INFORMATION (UNAUDITED) SUPPLEMENTARY OIL AND GAS INFORMATION (UNAUDITED) (Details)	12 Months Ended
	Feb. 20, 2017$ / bbl$ / MMBTU	Dec. 31, 2016$ / bbl$ / MMBTU
Gulf of Mexico [Member]
Oil and Gas In Process Activities [Line Items]
Total Reserve Volumes Subject to Reference Price Differential Quality Adjustments, Percentage		59.00%
Natural Gas [Member]
Oil and Gas In Process Activities [Line Items]
Average sales price (usd per bbl) | $ / MMBTU		2.48
Crude Oil
Oil and Gas In Process Activities [Line Items]
Average sales price (usd per bbl) | $ / bbl		42.75
Subsequent Event [Member] | Natural Gas [Member]
Oil and Gas In Process Activities [Line Items]
Average sales price (usd per bbl) | $ / MMBTU	2.65
Subsequent Event [Member] | Crude Oil
Oil and Gas In Process Activities [Line Items]
Average sales price (usd per bbl) | $ / bbl	45.99

SUPPLEMENTARY OIL AND GAS IN124

SUPPLEMENTARY OIL AND GAS INFORMATION (UNAUDITED) SUPPLEMENTARY OIL AND GAS INFORMATION (UNAUDITED) (Schedule of Costs Incurred) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Property acquisition costs:
Proved properties	$ 0	$ 0	$ 463
Unproved properties	7	61	1,460
Exploration costs	22	1,250	1,482
Development costs	749	1,442	1,270
Total	778	2,753	4,675
Asset Retirement Obligation, Period Increase (Decrease)	37	(80)	(27)
United States oil and gas operations
Property acquisition costs:
General and Administrative Costs Capitalized	78	124	143
Capitalized interest	$ 7	$ 58	$ 88

SUPPLEMENTARY OIL AND GAS IN125

SUPPLEMENTARY OIL AND GAS INFORMATION (UNAUDITED) SUPPLEMENTARY OIL AND GAS INFORMATION (UNAUDITED) (Schedule of Capitalized Costs) (Details) $ in Millions	3 Months Ended							12 Months Ended
	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2016USD ($)$ / Boe	Dec. 31, 2015USD ($)$ / Boe	Dec. 31, 2014USD ($)$ / Boe
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
Properties subject to amortization				$ 24,538				$ 27,507	$ 24,538	$ 16,547
Accumulated amortization				(22,276)				(27,433)	(22,276)	(7,360)
Total				2,262				74	2,262	9,187
Impairment of Oil and Gas Properties	$ 239	$ 291	$ 3,800	$ 3,700	$ 3,700	$ 2,700	$ 3,100	$ 4,317	$ 13,144	$ 3,737
Average Depletion Depreciation and Amortization Expense Per Unit of Production | $ / Boe								17.58	33.46	39.74

SUPPLEMENTARY OIL AND GAS IN126

SUPPLEMENTARY OIL AND GAS INFORMATION (UNAUDITED) SUPPLEMENTARY OIL AND GAS INFORMATION (UNAUDITED) (Schedule of Costs Not Subject to Amortization) (Details) $ in Billions	12 Months Ended
	Dec. 31, 2016USD ($)
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Reclassification to Well, Facilities, and Equipment Based on Determination of Proved Reserves	$ 4.9
Unproved properties [Member]
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Proceeds from sales	$ 1.6

SUPPLEMENTARY OIL AND GAS IN127

SUPPLEMENTARY OIL AND GAS INFORMATION (UNAUDITED) SUPPLEMENTARY OIL AND GAS INFORMATION (UNAUDITED) (Schedule of Results of Operations for Oil and Gas Producing Activities) (Details) - USD ($) $ in Millions	3 Months Ended							12 Months Ended
	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
Revenues from oil and gas producing activities								$ 1,513	$ 1,994	$ 4,710
Production and delivery costs								(1,829)	(1,215)	(1,237)
Depreciation, depletion and amortization								(839)	(1,772)	(2,265)
Impairment of Oil and Gas Properties	$ (239)	$ (291)	$ (3,800)	$ (3,700)	$ (3,700)	$ (2,700)	$ (3,100)	(4,317)	(13,144)	(3,737)
Income tax benefit (based on FCX's U.S. federal statutory tax rate)								0	5,368	958
Results of operations from oil and gas producing activities								(5,472)	$ (8,769)	$ (1,571)
Oil and Gas Drillship settlements/Idle rig and Contract termination costs								$ 926

SUPPLEMENTARY OIL AND GAS IN128

SUPPLEMENTARY OIL AND GAS INFORMATION (UNAUDITED) SUPPLEMENTARY OIL AND GAS INFORMATION (UNAUDITED) (Schedule of Estimated Quantities of Oil and Natural Gas Reserves) (Details) bbl in Millions, $ in Millions, ft³ in Billions	12 Months Ended
	Dec. 31, 2016USD ($)Boe$ / bbl$ / Mcfbblft³	Dec. 31, 2015Boe$ / bbl$ / Mcfbblft³	Dec. 31, 2014Boebblft³		Dec. 31, 2013bblft³
Proved reserves:
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis with Unobservable Inputs | $	$ 0
Proved Developed and Undeveloped Reserve (Energy) [Roll Forward]
Balance at beginning of year (Energy) | Boe	252,000,000	390,000,000	464,000,000
Extensions and discoveries (Energy) | Boe	0	17,000,000	16,000,000
Acquisitions of reserves in-place (Energy) | Boe	0	0	16,000,000	[1]
Revisions of previous estimates (Energy) | Boe	1,000,000	(102,000,000)	13,000,000
Sales of reserves in-place (Energy) | Boe	187,000,000	0	62,000,000
Production (Energy) | Boe	48,000,000	53,000,000	57,000,000
Balance at end of year (Energy) | Boe	18,000,000	252,000,000	390,000,000
Proved developed reserves (Energy) | Boe	18,000,000	169,000,000	246,000,000
Proved undeveloped reserves (Energy) | Boe	0	83,000,000	144,000,000
Gulf of Mexico [Member]
Proved Developed and Undeveloped Reserve (Energy) [Roll Forward]
Extensions and discoveries (Energy) | Boe		14,000,000	8,000,000
Haynesville
Proved Developed and Undeveloped Reserve (Energy) [Roll Forward]
Extensions and discoveries (Energy) | Boe		3,000,000	5
Deepwater Gulf of Mexico, Onshore California and Haynesville Oil And Gas Properties [Member]
Proved Developed and Undeveloped Reserve (Energy) [Roll Forward]
Sales of reserves in-place (Energy) | Boe	187
Eagle Ford shale assets
Proved Developed and Undeveloped Reserve (Energy) [Roll Forward]
Sales of reserves in-place (Energy) | Boe			62,000,000
Natural Gas Liquids [Member]
Proved reserves:
Balance at beginning of year | bbl	1	9	10
Balance at end of year | bbl	1	9	10
Proved developed reserves | bbl		6	7
Proved undeveloped reserves | bbl		3	3
Oil [Member]
Proved reserves:
Balance at beginning of year | bbl	4	207	288		370
Proved Developed and Undeveloped Reserves, Extensions, Discoveries, and Additions | bbl	0	11	10
Proved Developed and Undeveloped Reserves, Purchases of Minerals in Place | bbl	0	0	14
Proved Developed and Undeveloped Reserves, Revisions of Previous Estimates | bbl	1	(54)	(10)
Sale of reserves in-place | bbl	(168)	0	(53)
Production | bbl	(36)	(38)	(43)
Balance at end of year | bbl	4	207	288		370
Proved developed reserves | bbl	4	129	184
Proved undeveloped reserves | bbl	0	78	104
Proved Developed and Undeveloped Reserve (Energy) [Roll Forward]
Realized Sales Prices Used in Reserve Reports | $ / bbl	34.26	47.80
Natural Gas [Member]
Proved reserves:
Balance at beginning of year | ft³	87	274	610		562
Proved Developed and Undeveloped Reserves, Extensions, Discoveries, and Additions | ft³	0	43	35
Proved Developed and Undeveloped Reserves, Purchases of Minerals in Place | ft³	0	0	9
Proved Developed and Undeveloped Reserves, Revisions of Previous Estimates | ft³	0	(287)	140
Sale of reserves in-place | ft³	(118)	(2)	(54)
Production | ft³	(69)	(90)	(82)
Balance at end of year | ft³	87	274	610		562
Proved developed reserves | ft³	87	245	369
Proved undeveloped reserves | ft³	0	29	241
Proved Developed and Undeveloped Reserve (Energy) [Roll Forward]
Realized Sales Prices Used in Reserve Reports | $ / Mcf	2.40	2.55
[1]	MMBbls = million barrels; Bcf = billion cubic feet; MMBOE = million BOE

SUPPLEMENTARY OIL AND GAS IN129

SUPPLEMENTARY OIL AND GAS INFORMATION (UNAUDITED) SUPPLEMENTARY OIL AND GAS INFORMATION (UNAUDITED) (Schedule of Standardized Measure of Future Net Cash Flows) (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves [Line Items]
Future cash inflows	$ 345	$ 10,536	$ 29,504
Future production expense	(175)	(4,768)	(10,991)
Future development costs	(439)	(4,130)	(6,448)
Future income tax expense	0	0	(2,487)
Future net cash flows	(269)	1,638	9,578
Discounted at 10% per year	32	(246)	(3,157)
Standardized Measure	(237)	1,392	6,421	$ 9,417
Asset Retirement Obligation	2,635	2,771	2,744	$ 2,316
United States oil and gas operations
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves [Line Items]
Asset Retirement Obligation	$ 400	$ 1,900	$ 1,800

SUPPLEMENTARY OIL AND GAS IN130

SUPPLEMENTARY OIL AND GAS INFORMATION (UNAUDITED) SUPPLEMENTARY OIL AND GAS INFORMATION (UNAUDITED) (Schedule of Changes in the Standardized Measure) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Increase (Decrease) in Standardized Measure of Discounted Future Net Cash Flow Relating to Proved Oil and Gas Reserves [Roll Forward]
Balance at beginning of year	$ 1,392	$ 6,421	$ 9,417
Sales, net of production expenses	(831)	(928)	(3,062)
Net changes in sales and transfer prices, net of production expenses	(341)	(7,766)	(2,875)
Extensions, discoveries and improved recoveries	0	45	194
Changes in estimated future development costs, including timing and other	146	1,287	(498)
Previously estimated development costs incurred during the year	295	985	982
Sales of reserves in-place	(1,049)	0	(1,323)
Other purchases of reserves in-place	0	0	487
Revisions of quantity estimates	12	(1,170)	399
Accretion of discount	139	797	1,195
Net change in income taxes	0	1,721	1,505
Total changes	(1,629)	(5,029)	(2,996)
Balance at end of year	$ (237)	$ 1,392	$ 6,421

SCHEDULE II - VALUATION AND 131

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Valuation allowance for deferred tax assets
Valuation and Qualifying Accounts Disclosure [Line Items]
Valuation Allowances and Reserves, Deductions			$ (53)
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	$ 4,183	$ 2,434	2,487
Additions Charged to Cost and Expense	1,852	1,749
Additons Charged to Other Accounts	23	0	0
Other Additions (Deductions)	0	0	0
Balance at End of Year	6,058	4,183	2,434
Reserve for Taxes, Other than Income Taxes [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Valuation Allowances and Reserves, Deductions	(3)
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	83	93	78
Additions Charged to Cost and Expense	13	9	16
Additons Charged to Other Accounts		0	0
Other Additions (Deductions)	(29)	(19)	(1)
Balance at End of Year	$ 64	$ 83	$ 93