Freeport-McMoRan (FCX) 10-K 20 Feb 18 2017 FY Annual report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2017	Jan. 31, 2018	Jun. 30, 2017
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			$ 15.5
Entity Common Stock, Shares Outstanding		1,447,844,743
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2017

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	1 Months Ended	3 Months Ended									12 Months Ended
	Feb. 29, 2012	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Statement [Abstract]
Revenues		$ 5,041	$ 4,310	$ 3,711	$ 3,341	$ 4,377	$ 3,877	$ 3,334	$ 3,242		$ 16,403	$ 14,830	$ 14,607
Cost of sales:
Production and delivery											10,300	10,697	10,693
Depreciation, depletion and amortization											1,714	2,530	3,240
Impairment of Oil and Gas Properties							200	300	3,800		0	4,317	13,144
Metals inventory adjustments											8	36	338
Total cost of sales											12,022	17,580	27,415
Selling, general and administrative expenses											484	607	558
Mining exploration and research expenses											94	64	107
Environmental obligations and shutdown costs											251	20	78
Net gain on sales of assets		(15)	(33)	(10)	(23)	113	(13)	(749)			(81)	(649)	(39)
Total costs and expenses											12,770	17,622	28,119
Operating income (loss)		1,467	917	669	580	703	359	18	(3,872)		3,633	(2,792)	(13,512)
Interest expense, net											(801)	(755)	(617)
Net gain on early extinguishment and exchanges of debt											21	26	0
Other income, net											49	49	1
Income (loss) from continuing operations before income taxes and equity in affiliated companies' net earnings (losses)											2,902	(3,472)	(14,128)
(Provision for) benefit from income taxes											(883)	(371)	1,951
Equity in affiliated companies’ net earnings (losses)											10	11	(3)
Net income (loss) from continuing operations		1,193	242	326	268	202	292	(229)	(4,097)		2,029	(3,832)	(12,180)
Net income (loss) from discontinued operations		16	3	9	38	(2)	(6)	(181)	(4)		66	(193)	91
Net income (loss)		1,209	245	335	306	200	286	(410)	(4,101)		2,095	(4,025)	(12,089)
Net income attributable to noncontrolling interests: Continuing Operations											(274)	(227)	(27)
Net income attributable to noncontrolling interests: Discontinued Operations		0	0	(1)	(3)	(19)	(22)	(12)	(10)		(4)	(63)	(79)
Gain on redemption and preferred dividends attributable to redeemable noncontrolling interest											0	161	(41)
Net income (loss) attributable to common stockholders		$ 1,041	$ 280	$ 268	$ 228	$ 292	$ 217	$ (479)	$ (4,184)		$ 1,817	$ (4,154)	$ (12,236)
Basic and diluted net income (loss) per share attributable to common stockholders:
Continuing operations (in dollars per share)						$ 0.22	$ 0.18	$ (0.23)	$ (3.34)		$ 1.21	$ (2.96)	$ (11.32)
Discontinued operations (in dollars per share)		$ 0.01	$ 0	$ 0	$ 0.03	(0.01)	(0.02)	(0.15)	(0.01)		0.04	(0.20)	0.01
Earnings per share, basic and diluted (in dollars per share)						$ 0.21	$ 0.16	$ (0.38)	$ (3.35)		$ 1.25	$ (3.16)	$ (11.31)
Weighted Average Number of Shares Outstanding, Basic		1,448,000,000	1,448,000,000	1,447,000,000	1,446,000,000	1,403,000,000	1,346,000,000	1,269,000,000	1,251,000,000		1,447,000,000	1,318,000,000	1,082,000,000
Weighted Average Number of Shares Outstanding, Diluted		1,455,000,000	1,454,000,000	1,453,000,000	1,454,000,000	1,410,000,000	1,351,000,000	1,269,000,000	1,251,000,000		1,454,000,000	1,318,000,000	1,082,000,000
Dividends declared per share of common stock (in dollars per share)	$ 1.25									$ 0.20	$ 0	$ 0	$ 0.2605

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 2,095	$ (4,025)	$ (12,089)
Other comprehensive income (loss), net of taxes:
Unrealized gains on securities	1	2	0
Defined benefit plans:
Actuarial gains (losses) arising during the period, net of taxes	(14)	88	5
Amortization or curtailment of unrecognized amounts included in net periodic benefit costs	54	44	38
Foreign exchange (losses) gains	0	(1)	8
Other comprehensive income (loss)	69	(43)	41
Total comprehensive income (loss)	2,164	(4,068)	(12,048)
Total comprehensive income attributable to noncontrolling interests	(286)	(292)	(106)
Gain on redemption and preferred dividends attributable to noncontrolling interests	0	161	(41)
Total comprehensive income (loss) attributable to common stockholders	$ 1,878	$ (4,199)	$ (12,195)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash flow from operating activities:
Net income (loss)	$ 2,095	$ (4,025)	$ (12,089)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, depletion and amortization	1,714	2,610	3,497
Tax Cuts and Jobs Act of 2017, Incomplete Accounting, Provisional Income Tax Expense (Benefit)	(393)	0	0
Litigation Settlement, Expense	355	0	0
Payments for Legal Settlements	(53)	(30)	(34)
Impairment of Oil and Gas Properties	0	4,317	13,144
Oil and gas noncash drillship settlement costs and other adjustments	(33)	803	137
Oil and gas contract settlement payments	(70)	0	0
Metals inventory adjustments	8	36	338
Mining asset impairments and restructuring	40	20	119
Net gain on sales of assets	(81)	(649)	(39)
Stock-based compensation	71	86	85
Net charges for environmental and asset retirement obligations, including accretion	383	191	209
Payments for environmental and asset retirement obligations	131	242	198
Pension and Other Postretirement Benefits Expense (Reversal of Expense), Noncash	120	113	105
Payment for Pension and Other Postretirement Benefits	(174)	(57)	(140)
Net gain on early extinguishment and exchanges of debt	(21)	(26)	0
Deferred income taxes	76	239	(2,039)
Loss on disposal of discontinued operations	57	(198)	0
Decrease (increase) in long-term mill and leach stockpiles	224	10	(212)
Other Operating Activities, Cash Flow Statement	20	48	(70)
Changes in working capital and other tax payments, excluding disposition amounts:
Accounts receivable	427	(175)	813
Inventories	(393)	117	379
Other current assets	(28)	37	97
Accounts payable and accrued liabilities	110	(28)	(217)
Accrued income taxes and timing of other tax payments	473	136	(665)
Net cash provided by operating activities	4,682	3,729	3,220
Cash flow from investing activities:
Capital expenditures	(1,410)	(2,813)	(6,353)
Proceeds from sales of:
Other assets	72	423	160
Other, net	(25)	8	(53)
Net cash (used in) provided by investing activities	(1,363)	3,550	(6,246)
Cash flow from financing activities:
Proceeds from debt	955	3,681	8,272
Repayments of debt	(3,812)	(7,625)	(6,677)
Net proceeds from sale of common stock	0	1,515	1,936
Cash dividends and distributions paid:
Common stock	(2)	(6)	(605)
Noncontrolling interests, including redemption	(174)	(693)	(120)
Stock-based awards net payments	(10)	(6)	(4)
Debt financing costs and other, net	(12)	(32)	(16)
Net cash (used in) provided by financing activities	(3,055)	(3,166)	2,786
Net increase (decrease) in cash and cash equivalents	264	4,113	(240)
(Increase) decrease in cash and cash equivalents in assets held for sale	(62)	(45)	119
Cash and cash equivalents at beginning of year	4,245	177	298
Cash and cash equivalents at end of year	4,447	4,245	177
Tenke Fungurume mine
Proceeds from sales of:
Proceeds from sales	0	2,664	0
Deepwater Gulf of Mexico and onshore California oil and gas properties
Proceeds from sales of:
Proceeds from sales	0	2,272	0
Morenci
Proceeds from sales of:
Proceeds from sales	0		0
North America copper mines
Cash flow from investing activities:
Capital expenditures	(167)	(102)	(355)
South America
Cash flow from investing activities:
Capital expenditures	(115)	(382)	(1,722)
Indonesia
Cash flow from investing activities:
Capital expenditures	(875)	(1,025)	(901)
Molybdenum mines
Cash flow from investing activities:
Capital expenditures	(5)	(2)	(13)
Other, including oil and gas operations
Cash flow from investing activities:
Capital expenditures	$ (248)	$ (1,302)	$ (3,362)

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 4,447	$ 4,245
Trade accounts receivable	1,246	1,126
Income and other tax receivables	325	879
Inventories:
Total materials and supplies, net	1,305	1,306
Mill and leach stockpiles	1,422	1,338
Product	1,166	998
Other current assets	270	199
Assets held for sale	598	344
Total current assets	10,779	10,435
Property, plant, equipment and mine development costs, net	22,836	23,219
Oil and gas properties, net - full cost method:
Oil and gas properties, subject to amortization, less accumulated amortization and impairments of $27,445 and $27,433, respectively	8	74
Oil and Natural Gas Properties, Full Cost Method, Subject to Amortization, Less Accumulated Amortization and Impairments	8	74
Long-term mill and leach stockpiles	1,409	1,633
Other assets	2,270	1,956
Total assets	37,302	37,317
Current liabilities:
Accounts payable and accrued liabilities	2,321	2,393
Current portion of debt	1,414	1,232
Current portion of environmental and asset retirement obligations	388	369
Accrued income taxes	565	66
Liabilities held for sale	350	205
Total current liabilities	5,038	4,265
Long-term debt, less current portion	11,703	14,795
Deferred income taxes	3,622	3,768
Environmental and asset retirement obligations, less current portion	3,631	3,487
Other liabilities	2,012	1,745
Total liabilities	26,006	28,060
Stockholders’ equity:
Common stock, par value $0.10, 1,578 shares and 1,574 shares issued, respectively	158	157
Capital in excess of par value	26,751	26,690
Accumulated deficit	(14,722)	(16,540)
Accumulated other comprehensive loss	(487)	(548)
Common stock held in treasury – 130 shares and 129 shares, respectively, at cost	(3,723)	(3,708)
Total stockholders’ equity	7,977	6,051
Noncontrolling interests	3,319	3,206
Total equity	11,296	9,257
Total liabilities and equity	$ 37,302	$ 37,317

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Millions, $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Oil and gas properties, net - full cost method:
Accumulated amortization	$ 27,445	$ 27,433
Stockholders’ equity:
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares issued (in shares)	1,578	1,574
Common stock hold in treasury (in shares)	130	129

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, 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
Stock-based compensation, including tax benefit and the tender of shares (in shares)						0
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	0
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	(12,048)
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		0				0
Stock-based compensation, including tax benefit and the tender of shares	55		61			$ (6)	55	0
Stock-based compensation, including tax benefit and the tender of shares (in shares)						1
Dividends	(89)			1			1	(90)
Changes in noncontrolling interests	(6)		0				0	(6)
Sale of Candelaria and Ojos del Salado mines	(1,206)		0	0			0	(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
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	(4,068)
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
Tender of shares for stock based awards shares		0				0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercised and issued stock-based awards (in shares)		4				0
Exercised and issued stock-based awards	6	$ 1	5	0	0	$ 0	6	0
Stock-based compensation, including tax benefit and the tender of shares	42	0	56	0	0	$ (15)	41	1
Stock-based compensation, including tax benefit and the tender of shares (in shares)						1
Dividends	(173)	0	0	1	0	$ 0	1	(174)
Net loss attributable to common stockholders	1,817	0		1,817		0	1,817	0
Net income attributable to noncontrolling interests, including discontinued operations	278	0				0	0	278
Noncontrolling Interest, Change in Redemption Value			0	0	0
Other comprehensive (loss) income	69	$ 0	0		61	$ 0	61	8
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	2,164			0
Balance (in shares) at Dec. 31, 2017		1,578				130
Balance at Dec. 31, 2017	$ 11,296	$ 158	26,751	$ (14,722)	(487)	$ (3,723)	$ 7,977	$ 3,319
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adjustment to Additional Paid in Capital, Income Tax Effect from Share-based Compensation, Net			$ 0		$ 0

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Notes)	12 Months Ended
	Dec. 31, 2017
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. As of December 31, 2017, 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) and Atlantic Copper, S.L.U. (Atlantic Copper). 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 FCX Oil & Gas LLC (FM O&G, formerly FCX Oil & Gas Inc.), in 2013. Subsequent to the acquisitions, FCX completed sales of its Africa mining operations and substantially all of its oil and gas operations. 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 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. FCX’s reportable segments include the Morenci, Cerro Verde and Grasberg (Indonesia mining) copper mines, the Rod & Refining operations and Atlantic Copper Smelting & Refining. 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 United States (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 minerals reserve estimation; 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, net, as are gains and losses from foreign currency transactions. Foreign currency (losses) gains totaled $(5) million in 2017 , $32 million in 2016 and $(90) million in 2015 . Cash Equivalents. Highly liquid investments purchased with maturities of three months or less are considered cash equivalents. Inventories. Inventories include materials and supplies, mill and leach stockpiles, and product inventories. 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 contain ore that has been extracted from an ore body and is 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 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 in the measurement of fair value. 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 were excluded from amortization until the properties were evaluated. Costs were transferred into the amortization base on an ongoing basis as the properties were evaluated and proved oil and natural gas reserves were established or if impairment was determined. Unproved oil and gas properties were assessed periodically, at least annually, to determine whether impairment had occurred. FCX assessed unproved oil and gas properties for impairment on an individual basis or as a group if properties were individually insignificant. The assessment considered 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 were assigned and other current market conditions. During any period in which these factors indicated an impairment, the cumulative drilling costs incurred to date for such property and all or a portion of the associated leasehold costs were transferred to the full cost pool and were 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 and $6.4 billion in 2015 . The transfer of costs into the amortization base involved a significant amount of judgment. Costs not subject to amortization consisted primarily of capitalized costs incurred for undeveloped acreage and wells in progress pending determination, together with capitalized interest for these projects. 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, 2017 or 2016. Interest costs totaling $7 million in 2016 and $58 million in 2015 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 and 2015, 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 and $13.1 billion in 2015, 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 $51.34 per barrel at December 31, 2017 , compared with $42.75 per barrel at December 31, 2016 , and $50.28 per barrel at December 31, 2015 . 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. 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. 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. In 2015, FCX 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, a subsidiary of FMC) metal sales are subject to certain royalties, which are recorded as a reduction to revenues. 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, 2017 . 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 FCX’s stock price and 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. FCX calculates its basic net income (loss) per share of common stock under the two-class method and calculates its diluted net income (loss) per share of common stock using the more dilutive of the two-class method or the treasury-stock method. Basic net income (loss) per share of common stock was computed by dividing net income (loss) attributable to common stockholders (after deducting accumulated dividends and undistributed earnings to participating securities) by the weighted-average shares of common stock outstanding during the year. Diluted net income (loss) per share of common stock was calculated by including the basic weighted-average shares of common stock outstanding adjusted for the effects of all potential dilutive shares of common stock, unless their effect would be anti-dilutive. Reconciliations of net income (loss) and weighted-average shares of common stock outstanding for purposes of calculating basic and diluted net income (loss) per share for the years ended December 31 follow: 2017 2016 2015 Net income (loss) from continuing operations $ 2,029 $ (3,832 ) $ (12,180 ) Net income from continuing operations attributable to noncontrolling interests (274 ) (227 ) (27 ) Gain on redemption and preferred dividends attributable to redeemable noncontrolling interest — 161 (41 ) Accumulated dividends and undistributed earnings allocated to participating securities (4 ) (3 ) (3 ) Net income (loss) from continuing operations attributable to common stockholders $ 1,751 $ (3,901 ) $ (12,251 ) Net income (loss) from discontinued operations 66 (193 ) 91 Net income from discontinued operations attributable to noncontrolling interests (4 ) (63 ) (79 ) Net income (loss) from discontinued operations attributable to common stockholders $ 62 $ (256 ) $ 12 Net income (loss) attributable to common stockholders $ 1,813 $ (4,157 ) $ (12,239 ) Basic weighted-average shares of common stock outstanding (millions) 1,447 1,318 1,082 Add shares issuable upon exercise or vesting of dilutive stock options and RSUs (millions) 7 — a — a Diluted weighted-average shares of common stock outstanding (millions) 1,454 1,318 1,082 Basic and diluted net income (loss) per share attributable to common stockholders: Continuing operations $ 1.21 $ (2.96 ) $ (11.32 ) Discontinued operations 0.04 (0.20 ) 0.01 $ 1.25 $ (3.16 ) $ (11.31 ) a. Excludes approximately 12 million in 2016 and 9 million in 2015 associated with outstanding stock o

DISPOSITIONS AND ACQUISITIONS D

DISPOSITIONS AND ACQUISITIONS DISPOSITIONS AND ACQUISITIONS	12 Months Ended
	Dec. 31, 2017
Dispositions And Acquisitions [Abstract]
DISPOSITIONS AND ACQUISITIONS	DISPOSITIONS TF Holdings Limited - Discontinued Operations. FCX had a 70 percent interest in TF Holdings Limited (TFHL), which 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 the fair value will be adjusted through December 31, 2019. The fair value of the contingent consideration derivative (included in other assets in the consolidated balance sheets) was $74 million at December 31, 2017 , and $13 million at December 31, 2016. Gains resulting from changes in the fair value of the contingent consideration derivative ( $61 million in 2017 and $13 million in 2016) are included in net income (loss) from discontinued operations and primarily resulted from higher cobalt prices. Future changes in the fair value of the contingent consideration derivative will continue to 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 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, 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. The consolidated statements of comprehensive income (loss) were not impacted by discontinued operations as TFHL did not have any other comprehensive income (loss), and the consolidated statements of cash flows are reported on a combined basis without separately presenting discontinued operations. Net income (loss) from discontinued operations in the consolidated statements of operations consists of the following: Years Ended December 31, 2017 2016 2015 Revenues a $ 13 $ 959 $ 1,270 Costs and expenses: Production and delivery costs — 833 852 Depreciation, depletion and amortization — 80 b 257 Interest expense allocated from parent c — 39 28 Other costs and expenses, net — 10 26 Income (loss) before income taxes and net gain (loss) on disposal 13 (3 ) 107 Net gain (loss) on disposal 57 d (198 ) e — Net income (loss) before income taxes 70 (201 ) 107 (Provision for) benefit from income taxes (4 ) 8 (16 ) Net income (loss) from discontinued operations $ 66 $ (193 ) $ 91 a. In accordance with accounting guidance, amounts are net of recognition (eliminations) of intercompany sales totaling $13 million in 2017 , $(157) million in 2016 and $(114) million in 2015 . b. In accordance with accounting guidance, depreciation, depletion and amortization was 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 gain of $61 million associated with the change in the fair value of contingent consideration. e. 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 Net cash provided by operating activities $ 241 $ 217 Net cash used in investing activities (73 ) (253 ) Net cash used in financing activities (123 ) (82 ) Increase (decrease) in cash and cash equivalents $ 45 $ (118 ) Oil and Gas Operations. On July 31, 2017, FM O&G sold certain property interests in the Gulf of Mexico Shelf for cash consideration of $62 million (before closing adjustments from the April 1, 2017, effective date). On March 17, 2017 , FM O&G sold property interests in the Madden area in central Wyoming for cash consideration of $17.5 million , before closing adjustments. Under the full cost accounting rules, the sales resulted in the recognition of gains of $49 million in 2017 because the reserves associated with these properties were significant to the full cost pool. 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 the fair value will be adjusted through the year 2020. The fair value of the contingent consideration derivative (included in other assets in the consolidated balance sheets) was $34 million at December 31, 2017, and $33 million at December 31, 2016. Future changes in the fair value of the contingent consideration derivative will continue to 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 Gulf of Mexico (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 reduced the loss on the sale in 2016. The contingent payments were included in other current assets ( $24 million ) and other assets ( $126 million ) at December 31, 2017, and in other assets ( $150 million ) at December 31, 2016, in the consolidated balance sheets. 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 in 2016, 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 financial statements. 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 2016 because the reserves were not significant to the full cost pool. 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. Assets Held for Sale. 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 owns a 100 percent interest. As a result of the sale of TFHL, FCX expects to sell its interest in Freeport Cobalt and Kisanfu, and the assets and liabilities of Freeport Cobalt and Kisanfu are classified as held for sale in the consolidated balance sheets. A $110 million estimated loss on disposal was included in net gain on sales of assets in 2016 in the consolidated statements of operations. FCX continues to market the Freeport Cobalt and Kisanfu assets and evaluate the fair value of these assets. During 2017, the fair value evaluations resulted in an increase to the estimated fair value less costs to sell of $13 million (included in net gain on sales of assets in the consolidated statements of operations).

OWNERSHIP IN SUBSIDIARIES AND J

OWNERSHIP IN SUBSIDIARIES AND JOINT VENTURES	12 Months Ended
	Dec. 31, 2017
Equity Method Investments and Joint Ventures [Abstract]
Ownership In Subsidiaries And Joint Ventures	OWNERSHIP IN SUBSIDIARIES AND JOINT VENTURES Ownership in Subsidiaries. FMC produces copper and molybdenum, with mines in North America and South America. At December 31, 2017 , 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 SMM Morenci, Inc.”) and owns 100 percent of the other North America mines. At December 31, 2017 , 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, 2017 , FMC’s net assets totaled $16.0 billion and its accumulated deficit totaled $14.0 billion . FCX had no loans outstanding to FMC at December 31, 2017 . 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 venture. At December 31, 2017 , PT-FI’s net assets totaled $6.3 billion and its retained earnings totaled $6.0 billion . FCX had no loans outstanding to PT-FI at December 31, 2017 . FCX owns 100 percent of the outstanding Atlantic Copper common stock. At December 31, 2017 , Atlantic Copper’s net liabilities totaled $40 million and its accumulated deficit totaled $452 million . FCX had $365 million in intercompany loans outstanding to Atlantic Copper at December 31, 2017 . FCX owns 100 percent of FM O&G, which, as of December 31, 2017, has oil and gas assets that primarily includes oil and natural gas production onshore in South Louisiana and on the GOM Shelf and oil production offshore California. At December 31, 2017 , FM O&G’s net liabilities totaled $13.7 billion and its accumulated deficit totaled $25.3 billion . FCX had $9.9 billion in intercompany loans outstanding to FM O&G at December 31, 2017 . 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 $30 million at December 31, 2017 , and $10 million at December 31, 2016 . Sumitomo and SMM Morenci, Inc. FMC 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 218 million pounds of Morenci’s copper cathode from Sumitomo and SMM Morenci, Inc. at market prices for $610 million during 2017 . FMC had receivables from Sumitomo and SMM Morenci, Inc. totaling $18 million at December 31, 2017 , and $15 million at December 31, 2016 .

INVENTORIES, INCLUDING LONG-TER

INVENTORIES, INCLUDING LONG-TERM MILL AND LEACH STOCKPILES	12 Months Ended
	Dec. 31, 2017
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, 2017 2016 Current inventories: Total materials and supplies, net a $ 1,305 $ 1,306 Mill stockpiles $ 360 $ 259 Leach stockpiles 1,062 1,079 Total current mill and leach stockpiles $ 1,422 $ 1,338 Raw materials (primarily concentrate) $ 265 $ 255 Work-in-process 154 114 Finished goods 747 629 Total product inventories $ 1,166 $ 998 Long-term inventories: Mill stockpiles $ 300 $ 487 Leach stockpiles 1,109 1,146 Total long-term inventories b $ 1,409 $ 1,633 a. Materials and supplies inventory was net of obsolescence reserves totaling $29 million at December 31, 2017 and 2016 . 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 $8 million in 2017 and $36 million in 2016 (primarily for molybdenum inventories), and $338 million in 2015 ( $215 million for copper inventories and $123 million for molybdenum inventories). 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, 2017
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, 2017 2016 Proven and probable mineral reserves $ 3,974 $ 3,863 VBPP 447 559 Mine development and other 6,212 5,755 Buildings and infrastructure 7,520 7,479 Machinery and equipment 12,201 11,744 Mobile equipment 3,764 3,725 Construction in progress 2,964 2,831 Property, plant, equipment and mine development costs 37,082 35,956 Accumulated depreciation, depletion and amortization (14,246 ) (12,737 ) Property, plant, equipment and mine development costs, net $ 22,836 $ 23,219 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 $112 million to proven and probable mineral reserves during 2017 and $640 million prior to 2017 ( none in 2016). 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 $121 million in 2017 , $92 million in 2016 and $157 million in 2015 . In connection with the decline in copper and molybdenum prices and revised operating plans at FCX’s mining operations, 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 and 2017, 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 prices were $3.25 per pound and $2.50 per pound at December 31, 2017 and 2016, respectively, which were higher than the LME spot price of $2.13 per pound at December 31, 2015; the weekly average prices for molybdenum were $10.15 per pound and $6.74 per pound at December 31, 2017 and 2016, respectively, which were higher than the weekly average price of $5.23 per pound at December 31, 2015.

OTHER ASSETS

OTHER ASSETS	12 Months Ended
	Dec. 31, 2017
Other Assets [Abstract]
Other Assets Disclosure	OTHER ASSETS The components of other assets follow: December 31, 2017 2016 Disputed tax assessments: a PT-FI $ 417 $ 331 Cerro Verde 185 277 Long-term receivable for taxes b 445 129 Intangible assets c 306 305 Investments: Assurance bond d 123 120 PT Smelting e 61 83 Available-for-sale securities 30 50 Other 48 50 Contingent consideration associated with sales of assets f 234 196 Legally restricted funds g 189 182 Rio Tinto’s share of ARO 68 71 Long-term employee receivables 20 32 Other 144 130 Total other assets $ 2,270 $ 1,956 a. Refer to Note 12 for further discussion. b. Includes tax overpayments and refunds not expected to be realized within the next 12 months (primarily in the U.S. associated with U.S. tax reform, refer to Note 11). c. Indefinite-lived intangible assets totaled $215 million at December 31, 2017 , and $217 million at December 31, 2016 . Definite-lived intangible assets were net of accumulated amortization totaling $46 million at December 31, 2017 , and $37 million at December 31, 2016 . d. Relates to PT-FI’s commitment for smelter development in Indonesia (refer to Note 13 for further discussion). e. PT-FI’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 $68 million at December 31, 2017 , and $39 million at December 31, 2016 . Trade accounts receivable from PT Smelting totaled $308 million at December 31, 2017 , and $283 million at December 31, 2016 . f. Refer to Note 2 for further discussion. g. Includes $180 million at December 31, 2017 , and $173 million at December 31, 2016 , held in trusts for AROs related to properties in New Mexico (refer to Note 12 for further discussion).

ACCOUNTS PAYABLE AND ACCRUED LI

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	12 Months Ended
	Dec. 31, 2017
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, 2017 2016 Accounts payable $ 1,380 $ 1,540 Salaries, wages and other compensation 235 225 Accrued interest a 168 129 Accrued taxes, other than income taxes 129 90 Pension, postretirement, postemployment and other employee benefits b 111 76 Deferred revenue 91 82 Accrued mining royalties 68 46 Other 139 205 Total accounts payable and accrued liabilities $ 2,321 $ 2,393 a. Third-party interest paid, net of capitalized interest, was $565 million in 2017 , $743 million in 2016 and $570 million in 2015 . b. Refer to Note 9 for long-term portion.

DEBT

DEBT	12 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
Debt	DEBT FCX’s debt at December 31, 2017 , included additions of $97 million ( $179 million at December 31, 2016 ) for unamortized fair value adjustments (primarily from the 2013 oil and gas acquisitions), and is net of reductions of $85 million ( $100 million at December 31, 2016 ) for unamortized net discounts and unamortized debt issuance costs. The components of debt follow: December 31, 2017 2016 Revolving credit facility $ — $ — Cerro Verde credit facility 1,269 1,390 Cerro Verde shareholder loans — 261 Senior notes and debentures: Issued by FCX: 2.15% Senior Notes due 2017 — 500 2.30% Senior Notes due 2017 — 728 2.375% Senior Notes due 2018 1,408 1,480 6.125% Senior Notes due 2019 — 186 3.100% Senior Notes due 2020 997 996 6½% Senior Notes due 2020 — 583 6.625% Senior Notes due 2021 — 242 4.00% Senior Notes due 2021 596 595 6.75% Senior Notes due 2022 427 432 3.55% Senior Notes due 2022 1,884 1,882 6 7 / 8 % Senior Notes due 2023 776 784 3.875% Senior Notes due 2023 1,914 1,912 4.55% Senior Notes due 2024 845 844 5.40% Senior Notes due 2034 740 739 5.450% Senior Notes due 2043 1,842 1,842 Issued by FMC: 7 1 / 8 % Debentures due 2027 115 115 9½% Senior Notes due 2031 127 128 6 1 / 8 % Senior Notes due 2034 116 116 Issued by Freeport-McMoRan Oil & Gas LLC (FM O&G LLC): 6.125% Senior Notes due 2019 — 60 6½% Senior Notes due 2020 — 69 6.625% Senior Notes due 2021 — 35 6.75% Senior Notes due 2022 — 48 6 7 / 8 % Senior Notes due 2023 54 55 Other 7 5 Total debt 13,117 16,027 Less current portion of debt (1,414 ) (1,232 ) Long-term debt $ 11,703 $ 14,795 Revolving Credit Facility. FCX, PT-FI and FM O&G LLC have a senior unsecured $3.5 billion revolving credit facility that matures on May 31, 2019, with $500 million available to PT-FI. At December 31, 2017 , FCX had no borrowings outstanding and $13 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 2.25 percent or an alternate base rate (ABR) plus 1.25 percent at December 31, 2017 ) is determined by reference to FCX’s credit ratings and leverage ratio. 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. In June 2017, Cerro Verde’s credit facility was amended (balance outstanding at the time of amendment was $1.275 billion ) to increase the commitment by $225 million to $1.5 billion , to modify the amortization schedule and to extend the maturity date to June 19, 2022. The amended credit facility amortizes in four installments, with $225 million due on December 31, 2020 (of which $220 million was prepaid during 2017), $225 million due on June 30, 2021, $525 million due on December 31, 2021, and the remaining balance due on the maturity date of June 19, 2022. All other terms, including the interest rates, remain the same. Interest under the term loan is based on LIBOR plus a spread ( 1.9 percent at December 31, 2017) based on Cerro Verde’s total net debt to earnings before interest, taxes, depreciation and amortization (EBITDA) ratio as defined in the agreement. The interest rate on Cerro Verde’s credit facility was 3.47 percent at December 31, 2017. Cerro Verde Shareholder Loans. In December 2014, Cerro Verde entered into loan agreements with three of its shareholders for borrowings up to $800 million . In June 2017, Cerro Verde used the proceeds from its amended credit facility plus available cash to repay the balance of its outstanding shareholder loans. The remaining availability for borrowing under these agreements totals $200 million . 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. 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. All of these senior notes, except the 6.75% Senior Notes due 2022 and the 6 7 / 8 % Senior Notes due 2023, were redeemed during 2017 (refer to Early Extinguishment and Exchanges of Debt in this note). The 6.75% Senior Notes due 2022 are currently redeemable in whole or in part, at the option of FCX, at a specified redemption price. The 6 7 / 8 % Senior Notes due 2023 are redeemable in whole or in part, at the option of FCX, at a make-whole redemption price prior to February 15, 2020, and at a specified redemption price thereafter. As of December 31, 2017, the book value of these senior notes totaled $1.2 billion , which reflects the remaining unamortized acquisition-date fair market value adjustments ( $81 million ) and the cash consideration ( $9 million ) that 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 (which matured and were repaid in 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 (which matured and were repaid in 2017) and $2.0 billion of 3.55% Senior Notes due 2022 for total net proceeds of $2.47 billion . The 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 discussed below and the 2016 exchange offer and consent solicitation discussed above, as of December 31, 2017 , the 6 7 / 8 % Senior Notes due 2023 are the only remaining FM O&G LLC senior notes, and these senior notes are currently redeemable in whole or in part, at the option of FM O&G LLC, at a specified redemption price. Early Extinguishment and Exchanges of Debt. During 2017, FCX redeemed in full or purchased in open-market transactions certain senior notes. A summary of these debt extinguishments follows: Principal Amount Net Adjustments Book Value Redemption Value Gain 2.375% Senior Notes due 2018 $ 74 $ — $ 74 $ 74 $ — FCX 6.125% Senior Notes due 2019 179 5 184 182 2 FM O&G LLC 6.125% Senior Notes due 2019 58 2 60 59 1 FCX 6½% Senior Notes due 2020 552 23 575 562 13 FM O&G LLC 6½% Senior Notes due 2020 65 3 68 66 2 FCX 6.625% Senior Notes due 2021 228 12 240 234 6 FM O&G 6.625% Senior Notes due 2021 33 2 35 34 1 FM O&G 6.750% Senior Notes due 2022 45 2 47 46 1 $ 1,234 $ 49 $ 1,283 $ 1,257 $ 26 Partially offsetting the $26 million gain was a net loss of $5 million , primarily associated with the modification of Cerro Verde’s credit facility in June 2017 and Cerro Verde’s prepayment in December 2017. 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 transactions follows: Principal Amount Net Adjustments 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 an unsecured bank term loan that was repaid and costs associated with the December 2016 senior note exchange offer and consent solicitation. 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. FCX’s leverage ratio (Net Debt/EBITDA, as defined in the credit agreement) cannot exceed 3.75 x, and the minimum interest coverage ratio (ratio of consolidated EBITDA, as defined in the credit agreement, to consolidated cash interest expense) is 2.25 x. The pricing under the revolving credit facility is a function of credit ratings and the leverage ratio. FCX’s senior notes contain limitations on liens. At December 31, 2017 , 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, 2017 , total $1.4 billion in 2018 , none in 2019 , $1.0 billion in 2020 , $1.4 billion in 2021 , $2.8 billion in 2022 and $6.5 billion thereafter.

OTHER LIABILITIES, INCLUDING EM

OTHER LIABILITIES, INCLUDING EMPLOYEE BENEFITS	12 Months Ended
	Dec. 31, 2017
Other Liabilities, Including Employee Benefits [Abstract]
Other Liabilities	OTHER LIABILITIES, INCLUDING EMPLOYEE BENEFITS The components of other liabilities follow: December 31, 2017 2016 Pension, postretirement, postemployment and other employment benefits a $ 1,154 $ 1,345 Cerro Verde royalty dispute 368 — Provision for tax positions 291 167 Legal matters 81 77 Insurance claim reserves 47 51 Accrued oil and gas contract commitments — 43 Other 71 62 Total other liabilities $ 2,012 $ 1,745 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 allocation studies and review of the liabilities 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 defined in the investment policy. FCX’s investment objective emphasizes diversification through both the allocation of the Master Trust assets among various 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 50 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 7 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 and expected future performance 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 6.5 percent per annum beginning January 1, 2018. The 6.5 percent estimation was based on a passive return on a compound basis of 6.0 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 costs, 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 costs 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. SERP Plan. FCX has an unfunded Supplemental Executive Retirement Plan (SERP) for its chief executive officer. The SERP provides for retirement benefits payable in the form of a joint and survivor annuity, life 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 participant’s highest average compensation for any consecutive three-year period during the five years immediately preceding the completion of 25 years of credited service. The SERP benefit will be reduced by the value of all benefits from current and former retirement plans (qualified and nonqualified) sponsored by FCX, by FM Services Company, FCX’s wholly owned subsidiary, or by any predecessor employer (including FCX’s former parent company), except for benefits produced by accounts funded exclusively by deductions from the participant’s pay. 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 13,480 rupiah to one U.S. dollar on December 31, 2017 , and 13,369 rupiah to one U.S. dollar on December 31, 2016 . 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 obligation includes 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, 2018. 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, 2017 2016 Projected benefit obligation $ 2,287 $ 2,127 Accumulated benefit obligation 2,163 2,014 Fair value of plan assets 1,521 1,312 Information on the FCX (FMC and SERP plans) and PT-FI plans as of December 31 follows: FCX PT-FI 2017 2016 2017 2016 Change in benefit obligation: Benefit obligation at beginning of year $ 2,135 $ 2,104 $ 374 $ 318 Service cost 44 27 20 27 Interest cost 91 93 23 29 Actuarial losses (gains) 188 92 (61 ) 2 Foreign exchange losses (gains) 3 (4 ) (2 ) 8 Curtailment a — — (62 ) — Benefits and administrative expenses paid (118 ) (177 ) (52 ) (10 ) Benefit obligation at end of year 2,343 2,135 240 374 Change in plan assets: Fair value of plan assets at beginning of year 1,329 1,379 284 204 Actual return on plan assets 230 88 11 47 Employer contributions b 145 42 28 38 Foreign exchange gains (losses) 2 (3 ) (2 ) 5 Benefits and administrative expenses paid (118 ) (177 ) (52 ) (10 ) Fair value of plan assets at end of year 1,588 1,329 269 284 Funded status $ (755 ) $ (806 ) $ 29 $ (90 ) Accumulated benefit obligation $ 2,218 $ 2,022 $ 194 $ 225 Weighted-average assumptions used to determine benefit obligations: Discount rate 3.70 % 4.40 % 6.75 % 8.25 % Rate of compensation increase 3.25 % 3.25 % 4.00 % 8.00 % Balance sheet classification of funded status: Other assets $ 11 $ 9 $ 29 $ — Accounts payable and accrued liabilities (4 ) (4 ) — — Other liabilities (762 ) (811 ) — (90 ) Total $ (755 ) $ (806 ) $ 29 $ (90 ) a. Resulted from the 2017 PT-FI reductions in workforce (refer to Restructuring Charges in this note for further discussion). b. Employer contributions for 2018 are expected to approximate $75 million for the FCX plans and $17 million for the PT-FI plan (based on a December 31, 2017 , exchange rate of 13,480 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: 2017 2016 2015 Weighted-average assumptions: a Discount rate 4.40 % 4.60 % 4.10 % Expected return on plan assets 7.00 % 7.25 % 7.25 % Rate of compensation increase 3.25 % 3.25 % 3.25 % Service cost $ 44 $ 27 $ 36 Interest cost 91 93 87 Expected return on plan assets (93 ) (96 ) (102 ) Amortization of net actuarial losses 49 42 45 Special retirement benefits b — — 22 Net periodic benefit cost $ 91 $ 66 $ 88 a. The assumptions shown relate only to the FMC plans. b. Resulted from FMC’s 2015 revised mine operating plans and reductions in the workforce (refer to Note 5 for further discussion). 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: 2017 2016 2015 Weighted-average assumptions: Discount rate 8.25 % 9.00 % 8.25 % Expected return on plan assets 7.75 % 7.75 % 7.75 % Rate of compensation increase 8.00 % 9.40 % 9.00 % Service cost $ 20 $ 27 $ 26 Interest cost 23 29 23 Expected return on plan assets (21 ) (17 ) (14 ) Amortization of prior service cost 2 3 3 Amortization of net actuarial loss — 5 6 Curtailment loss 4 — — Net periodic benefit cost $ 28 $ 47 $ 44 Included in accumulated other comprehensive loss are the following amounts that have not been recognized in net periodic pension cost as of December 31: 2017 2016 Before Taxes After Taxes and Noncontrolling Interests Before Taxes After Taxes and Noncontrolling Interests Net actuarial loss $ 620 $ 412 $ 722 $ 466 Prior service costs 10 6 21 11 $ 630 $ 418 $ 743 $ 477 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 2018 net periodic pension cost for actuarial losses is $47 million . FCX does not expect to have any plan assets returned to it in 2018 . 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). A summary of the fair value for pension plan assets, including those measured at net asset value (NAV) as a practical expedient, associated with the FCX plans follows: Fair Value at December 31, 2017 Total NAV Level 1 Level 2 Level 3 Commingled/collective funds: Global equity $ 404 $ 404 $ — $ — $ — Fixed income securities 154 154 — — — Global fixed income securities 115 115 — — — Emerging markets equity 87 87 — — — International small-cap equity 72 72 — — — U.S. small-cap equity 67 67 — — — Real estate property 50 50 — — — U.S. real estate securities 45 45 — — — Short-term investments 12 12 — — — Fixed income: Government bonds 208 — — 208 — Corporate bonds 168 — — 168 — Global large-cap equity securities 119 — 119 — — Private equity investments 20 20 — — — Other investments 62 — 19 43 — Total investments 1,583 $ 1,026 $ 138 $ 419 $ — Cash and receivables 21 Payables (16 ) Total pension plan net assets $ 1,588 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 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. Common stocks included in global large-cap equity securities and preferred stocks included in other investments 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. 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, 2017 Total Level 1 Level 2 Level 3 Government bonds $ 81 $ 81 $ — $ — Common stocks 78 78 — — Mutual funds 16 16 — — Total investments 175 $ 175 $ — $ — Cash and receivables a 94 Total pension plan net assets $ 269 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 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 those used by 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 2018 $ 111 $ 48 2019 151 8 2020 116 15 2021 118 20 2022 120 23 2023 through 2027 635 166 a. Based on a December 31, 2017 , exchange rate of 13,480 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 $14 million (included in accounts payable and accrued liabilities) and a long-term portion of $129 million (included in other liabilities) at December 31, 2017 , and a current portion of $16 million and a long-term portion of $138 million at December 31, 2016 . 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 3.50 percent at December 31, 2017 , and 3.80 percent at December 31, 2016 . Expected benefit payments for these plans total $14 million for 2018 , $14 million for 2019 , $13 million for 2020 , $13 million for 2021 , $12 million for 2022 and $50 million for 2023 through 2027 . The net periodic benefit cost charged to operations for FCX’s postretirement benefits (primarily for interest costs) totaled $5 million in 2017 , $4 million in 2016 and $6 million in 2015 . The discount rate used to determine net periodic benefit cost and the components of net periodic benefit cost for FCX’s postretirement benefits was 3.80 percent in 2017 , 4.10 percent in 2016 and 3.60 percent in 2015 . The medical-care trend rates assumed the first year trend rate was 8.00 percent at December 31, 2017 , 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 $38 million (included in other liabilities) at December 31, 2017 , and a current portion of $5 million and a long-term portion of $34 million at December 31, 2016 . 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 $46 million at December 31, 2017 , and $47 million at December 31, 2016 , all of which was included in other liabilities. The costs charged to operations for employee savings plans totaled $65 million in 2017 ( none of which was capitalized), $78 million in 2016 (of which $4 million was capitalized to oil and gas properties) and $98 million in 2015 (of which $13 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. As a result of the first-quarter 2017 regulatory restrictions and uncertainties regarding long-term investment stability, PT-FI took actions to adjust its cost structure, reduce its workforce and slow investments in its underground development projects and new smelter (refer to Note 13 for further discussion). These actions included workforce reductions through furlough and voluntary retirement programs. Following the furlough and voluntary retirement programs, a significant number of employees and contractors elected to participate in an illegal strike action beginning in May 2017, and were subsequently deemed to have voluntarily resigned under the existing Indonesian laws and regulations. As a result, PT-FI recorded charges in 2017 to production costs of $120 million , and selling, general and administrative costs of $5 million for employee severance and related costs, and a pension curtailment loss of $4 million included in production costs. In early 2016, FCX restructured its oil and gas business to reduce costs and in late 2016, FCX sold substantially all of its remaining oil and gas properties. As a result, FCX recorded charges of $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, 2017 2016 Pension, postretirement, postemployment and other employment benefits a $ 1,154 $ 1,345 Cerro Verde royalty dispute 368 — Provision for tax positions 291 167 Legal matters 81 77 Insurance claim reserves 47 51 Accrued oil and gas contract commitments — 43 Other 71 62 Total other liabilities $ 2,012 $ 1,745 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 allocation studies and review of the liabilities 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 defined in the investment policy. FCX’s investment objective emphasizes diversification through both the allocation of the Master Trust assets among various 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 50 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 7 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 and expected future performance 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 6.5 percent per annum beginning January 1, 2018. The 6.5 percent estimation was based on a passive return on a compound basis of 6.0 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 costs, 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 costs 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. SERP Plan. FCX has an unfunded Supplemental Executive Retirement Plan (SERP) for its chief executive officer. The SERP provides for retirement benefits payable in the form of a joint and survivor annuity, life 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 participant’s highest average compensation for any consecutive three-year period during the five years immediately preceding the completion of 25 years of credited service. The SERP benefit will be reduced by the value of all benefits from current and former retirement plans (qualified and nonqualified) sponsored by FCX, by FM Services Company, FCX’s wholly owned subsidiary, or by any predecessor employer (including FCX’s former parent company), except for benefits produced by accounts funded exclusively by deductions from the participant’s pay. 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 13,480 rupiah to one U.S. dollar on December 31, 2017 , and 13,369 rupiah to one U.S. dollar on December 31, 2016 . 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 obligation includes 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, 2018. 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, 2017 2016 Projected benefit obligation $ 2,287 $ 2,127 Accumulated benefit obligation 2,163 2,014 Fair value of plan assets 1,521 1,312 Information on the FCX (FMC and SERP plans) and PT-FI plans as of December 31 follows: FCX PT-FI 2017 2016 2017 2016 Change in benefit obligation: Benefit obligation at beginning of year $ 2,135 $ 2,104 $ 374 $ 318 Service cost 44 27 20 27 Interest cost 91 93 23 29 Actuarial losses (gains) 188 92 (61 ) 2 Foreign exchange losses (gains) 3 (4 ) (2 ) 8 Curtailment a — — (62 ) — Benefits and administrative expenses paid (118 ) (177 ) (52 ) (10 ) Benefit obligation at end of year 2,343 2,135 240 374 Change in plan assets: Fair value of plan assets at beginning of year 1,329 1,379 284 204 Actual return on plan assets 230 88 11 47 Employer contributions b 145 42 28 38 Foreign exchange gains (losses) 2 (3 ) (2 ) 5 Benefits and administrative expenses paid (118 ) (177 ) (52 ) (10 ) Fair value of plan assets at end of year 1,588 1,329 269 284 Funded status $ (755 ) $ (806 ) $ 29 $ (90 ) Accumulated benefit obligation $ 2,218 $ 2,022 $ 194 $ 225 Weighted-average assumptions used to determine benefit obligations: Discount rate 3.70 % 4.40 % 6.75 % 8.25 % Rate of compensation increase 3.25 % 3.25 % 4.00 % 8.00 % Balance sheet classification of funded status: Other assets $ 11 $ 9 $ 29 $ — Accounts payable and accrued liabilities (4 ) (4 ) — — Other liabilities (762 ) (811 ) — (90 ) Total $ (755 ) $ (806 ) $ 29 $ (90 ) a. Resulted from the 2017 PT-FI reductions in workforce (refer to Restructuring Charges in this note for further discussion). b. Employer contributions for 2018 are expected to approximate $75 million for the FCX plans and $17 million for the PT-FI plan (based on a December 31, 2017 , exchange rate of 13,480 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: 2017 2016 2015 Weighted-average assumptions: a Discount rate 4.40 % 4.60 % 4.10 % Expected return on plan assets 7.00 % 7.25 % 7.25 % Rate of compensation increase 3.25 % 3.25 % 3.25 % Service cost $ 44 $ 27 $ 36 Interest cost 91 93 87 Expected return on plan assets (93 ) (96 ) (102 ) Amortization of net actuarial losses 49 42 45 Special retirement benefits b — — 22 Net periodic benefit cost $ 91 $ 66 $ 88 a. The assumptions shown relate only to the FMC plans. b. Resulted from FMC’s 2015 revised mine operating plans and reductions in the workforce (refer to Note 5 for further discussion). 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: 2017 2016 2015 Weighted-average assumptions: Discount rate 8.25 % 9.00 % 8.25 % Expected return on plan assets 7.75 % 7.75 % 7.75 % Rate of compensation increase 8.00 % 9.40 % 9.00 % Service cost $ 20 $ 27 $ 26 Interest cost 23 29 23 Expected return on plan assets (21 ) (17 ) (14 ) Amortization of prior service cost 2 3 3 Amortization of net actuarial loss — 5 6 Curtailment loss 4 — — Net periodic benefit cost $ 28 $ 47 $ 44 Included in accumulated other comprehensive loss are the following amounts that have not been recognized in net periodic pension cost as of December 31: 2017 2016 Before Taxes After Taxes and Noncontrolling Interests Before Taxes After Taxes and Noncontrolling Interests Net actuarial loss $ 620 $ 412 $ 722 $ 466 Prior service costs 10 6 21 11 $ 630 $ 418 $ 743 $ 477 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 2018 net periodic pension cost for actuarial losses is $47 million . FCX does not expect to have any plan assets returned to it in 2018 . 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). A summary of the fair value for pension plan assets, including those measured at net asset value (NAV) as a practical expedient, associated with the FCX plans follows: Fair Value at December 31, 2017 Total NAV Level 1 Level 2 Level 3 Commingled/collective funds: Global equity $ 404 $ 404 $ — $ — $ — Fixed income securities 154 154 — — — Global fixed income securities 115 115 — — — Emerging markets equity 87 87 — — — International small-cap equity 72 72 — — — U.S. small-cap equity 67 67 — — — Real estate property 50 50 — — — U.S. real estate securities 45 45 — — — Short-term investments 12 12 — — — Fixed income: Government bonds 208 — — 208 — Corporate bonds 168 — — 168 — Global large-cap equity securities 119 — 119 — — Private equity investments 20 20 — — — Other investments 62 — 19 43 — Total investments 1,583 $ 1,026 $ 138 $ 419 $ — Cash and receivables 21 Payables (16 ) Total pension plan net assets $ 1,588 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 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. Common stocks included in global large-cap equity securities and preferred stocks included in other investments 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. 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, 2017 Total Level 1 Level 2 Level 3 Government bonds $ 81 $ 81 $ — $ — Common stocks 78 78 — — Mutual funds 16 16 — — Total investments 175 $ 175 $ — $ — Cash and receivables a 94 Total pension plan net assets $ 269 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 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 those used by 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 2018 $ 111 $ 48 2019 151 8 2020 116 15 2021 118 20 2022 120 23 2023 through 2027 635 166 a. Based on a December 31, 2017 , exchange rate of 13,480 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 $14 million (included in accounts payable and accrued liabilities) and a long-term portion of $129 million (included in other liabilities) at December 31, 2017 , and a current portion of $16 million and a long-term portion of $138 million at December 31, 2016 . 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 3.50 percent at December 31, 2017 , and 3.80 percent at December 31, 2016 . Expected benefit payments for these plans total $14 million for 2018 , $14 million for 2019 , $13 million for 2020 , $13 million for 2021 , $12 million for 2022 and $50 million for 2023 through 2027 . The net periodic benefit cost charged to operations for FCX’s postretirement benefits (primarily for interest costs) totaled $5 million in 2017 , $4 million in 2016 and $6 million in 2015 . The discount rate used to determine net periodic benefit cost and the components of net periodic benefit cost for FCX’s postretirement benefits was 3.80 percent in 2017 , 4.10 percent in 2016 and 3.60 percent in 2015 . The medical-care trend rates assumed the first year trend rate was 8.00 percent at December 31, 2017 , 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 $38 million (included in other liabilities) at December 31, 2017 , and a current portion of $5 million and a long-term portion of $34 million at December 31, 2016 . 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 $46 million at December 31, 2017 , and $47 million at December 31, 2016 , all of which was included in other liabilities. The costs charged to operations for employee savings plans totaled $65 million in 2017 ( none of which was capitalized), $78 million in 2016 (of which $4 million was capitalized to oil and gas properties) and $98 million in 2015 (of which $13 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. As a result of the first-quarter 2017 regulatory restrictions and uncertainties regarding long-term investment stability, PT-FI took actions to adjust its cost structure, reduce its workforce and slow investments in its underground development projects and new smelter (refer to Note 13 for further discussion). These actions included workforce reductions through furlough and voluntary retirement programs. Following the furlough and voluntary retirement programs, a significant number of employees and contractors elected to participate in an illegal strike action beginning in May 2017, and were subsequently deemed to have voluntarily resigned under the existing Indonesian laws and regulations. As a result, PT-FI recorded charges in 2017 to production costs of $120 million , and selling, general and administrative costs of $5 million for employee severance and related costs, and a pension curtailment loss of $4 million included in production costs. In early 2016, FCX restructured its oil and gas business to reduce costs and in late 2016, FCX sold substantially all of its remaining oil and gas properties. As a result, FCX recorded charges of $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, 2017
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 of Directors (the Board) declared a one-time special cash dividend of $0.1105 per share related to the settlement of the shareholder derivative litigation, 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. Refer to Note 18 for discussion of the reinstated cash dividend on FCX’s common stock. 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. 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, 2015 $ (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 ) Amounts arising during the period a,b 7 1 — 8 Amounts reclassified c 53 — — 53 Balance at December 31, 2017 $ (494 ) $ (3 ) $ 10 $ (487 ) a. Includes net actuarial (losses) gains, net of noncontrolling interest, totaling $(7) million for 2015 , $(79) million for 2016 and $52 million for 2017 . b. Includes tax benefits (provision) totaling $2 million for 2015 , $(11) million for 2016 and $(45) million for 2017 . c. Includes amortization primarily related to actuarial losses, net of taxes of $16 million for 2015 , $4 million for 2016 and $5 million for 2017 . 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, 2017 , 64.7 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: 2017 2016 2015 Selling, general and administrative expenses $ 55 $ 69 $ 67 Production and delivery 16 16 17 Capitalized costs — 4 11 Total stock-based compensation 71 89 95 Less capitalized costs — (4 ) (11 ) Tax benefit and noncontrolling interests’ share (4 ) a (3 ) a (31 ) Impact on net income (loss) from continuing operations $ 67 $ 82 $ 53 a. Charges in the U.S. are not 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 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, 2017 , including 716,469 SARs, and activity during the year ended December 31, 2017 , 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 53,794,235 $ 30.25 Granted 3,861,000 15.52 Exercised (647,941 ) 7.64 Expired/Forfeited (8,992,606 ) 34.24 Balance at December 31 48,014,688 28.63 4.8 $ 129 Vested and exercisable at December 31 39,725,053 32.26 4.0 $ 62 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: 2017 2016 2015 Weighted-average assumptions used to value stock option awards: Expected volatility 51.4 % 71.6 % 37.9 % Expected life of options (in years) 5.70 5.34 5.17 Expected dividend rate — — 4.5 % Risk-free interest rate 2.0 % 1.3 % 1.7 % Weighted-average grant-date fair value (per share) $ 7.61 $ 2.64 $ 4.30 Intrinsic value of options exercised $ 5 $ — a $ 1 Fair value of options vested $ 25 $ 43 $ 50 a. Rounds to less than $1 million. As of December 31, 2017 , FCX had $24 million of total unrecognized compensation cost related to unvested stock options expected to be recognized over a weighted-average period of approximately 2.0 years . Stock-Settled PSUs and RSUs. Beginning in 2014, FCX’s executive officers were granted PSUs that vest after three years. For the PSUs granted to the executive officers in 2015, the final number of shares to be issued to the executive officers is 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 executive officers received no shares at maturity based on FCX’s total shareholder return compared to its peers. For the PSUs granted in 2017 and 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 shares related to the PSU grants were 0.6 million for 2017 and 1.5 million for 2016, 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. All of FCX’s executive officers are retirement eligible, and their PSU awards are therefore non-forfeitable. As such, FCX charges the estimated fair value of the PSU awards to expense at the time the financial and operational metrics are established. FCX grants RSUs that vest over a period of three years to certain employees. FCX also grants RSUs 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. A summary of outstanding stock-settled RSUs and PSUs as of December 31, 2017 , and activity during the year ended December 31, 2017 , follows: Number of Awards Weighted-Average Grant-Date Fair Value Per Award Aggregate Intrinsic Value Balance at January 1 7,218,227 $ 18.08 Granted 2,062,067 a 15.37 Vested (3,175,437 ) 15.45 Forfeited (554,233 ) 11.23 Balance at December 31 5,550,624 19.27 $ 105 a. Excludes 374 thousand PSUs related to 2017 grants and 497 thousand PSUs related to 2016 grants for which the performance metrics have not yet been established. The total fair value of stock-settled RSUs and PSUs granted was $32 million during 2017 , $37 million during 2016 and $46 million during 2015 . The total intrinsic value of stock-settled RSUs vested was $45 million during 2017 , and $22 million during both 2016 and 2015 . As of December 31, 2017 , FCX had $6 million of total unrecognized compensation cost related to unvested stock-settled RSUs expected to be recognized over approximately 1.4 years . Cash-Settled RSUs and PSUs. 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). 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 shares related to the 2015 cash-settled PSU grants were 582 thousand shares, of which FM O&G’s senior management earned a total of 487 thousand shares at maturity based on the achievement of applicable performance goals. 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. A summary of outstanding cash-settled RSUs and PSUs as of December 31, 2017 , and activity during the year ended December 31, 2017 , follows: Number of Awards Weighted-Average Grant-Date Fair Value Per Award Aggregate Intrinsic Value Balance at January 1 2,531,744 $ 19.30 Granted 622,907 15.26 Vested (1,796,288 ) 22.43 Forfeited (51,128 ) 12.96 Balance at December 31 1,307,235 13.32 $ 25 The total grant-date fair value of cash-settled RSUs was $10 million during 2017 , $4 million during 2016 and $44 million during 2015 . The intrinsic value of cash-settled RSUs vested was $27 million during 2017 and $15 million during 2016. The accrued liability associated with cash-settled RSUs and PSUs consisted of a current portion of $11 million (included in accounts payable and accrued liabilities) and a long-term portion of $5 million (included in other liabilities) at December 31, 2017 , and a current portion of $23 million and a long-term portion of $4 million at December 31, 2016. Other Information. The following table includes amounts related to exercises of stock options and vesting of RSUs during the years ended December 31 : 2017 2016 2015 FCX shares tendered to pay the exercise price and/or the minimum required taxes a 1,041,937 906,120 349,122 Cash received from stock option exercises $ 5 $ — b $ 3 Actual tax benefit realized for tax deductions $ 1 $ — b $ 11 Amounts FCX paid for employee taxes $ 15 $ 6 $ 7 a. Under terms of the related plans, upon exercise of stock options and vesting of stock-settled 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, 2017
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES Geographic sources of income (losses) before income taxes and equity in affiliated companies’ net earnings (losses) for the years ended December 31 consist of the following: 2017 2016 2015 U.S. $ 20 $ (5,179 ) $ (14,589 ) Foreign 2,882 a 1,707 461 Total $ 2,902 $ (3,472 ) $ (14,128 ) a. As a result of the unfavorable Peruvian Supreme Court ruling on the Cerro Verde royalty dispute, FCX incurred pre-tax charges of $348 million to income from continuing operations and $7 million of net tax expense for the year 2017. Refer to Note 12 for further discussion. 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 consist of the following: 2017 2016 2015 Current income taxes: Federal $ (3 ) $ 164 $ 89 State (10 ) 17 2 Foreign (1,426 ) (352 ) (160 ) Total current (1,439 ) (171 ) (69 ) Deferred income taxes: Federal 64 137 3,403 State 10 41 154 Foreign 89 (451 ) (163 ) Total deferred 163 (273 ) 3,394 Adjustments 393 a 13 b (1,374 ) c Operating loss carryforwards — 60 — (Provision for) benefit from income taxes $ (883 ) $ (371 ) $ 1,951 a. Reflects provisional tax credits associated with the Tax Cuts and Jobs Act (the Act), including reversal of valuation allowances associated with anticipated refunds of alternative minimum tax (AMT) credits ( $272 million , net of reserves) and a decrease in corporate income tax rates ( $121 million ). Refer to “Tax Reform” below for further discussion. b. Benefit related to changes in Peruvian tax rules. c. 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. A reconciliation of the U.S. federal statutory tax rate to FCX’s effective income tax rate for the years ended December 31 follows: 2017 2016 2015 Amount Percent Amount Percent Amount Percent U.S. federal statutory tax rate $ (1,016 ) (35 )% $ 1,215 (35 )% $ 4,945 (35 )% Valuation allowance, net 28 a 1 (1,680 ) b 48 (2,955 ) b 21 Foreign tax credit limitation (159 ) (5 ) (598 ) 17 (228 ) 2 Tax reform 393 14 — — — — Mining royalty dispute (129 ) (5 ) — — — — Impairment of oil and gas properties — — 520 c (15 ) — — Percentage depletion 227 8 211 (6 ) 186 (1 ) Withholding and other impacts on foreign earnings (216 ) (7 ) (93 ) 3 (193 ) 1 Effect of foreign rates different than the U.S. federal statutory rate 17 1 45 (1 ) 12 — State income taxes (5 ) (1 ) 46 b (1 ) 105 b (1 ) Other items, net (23 ) (1 ) (37 ) 1 79 (1 ) (Provision for) benefit from income taxes $ (883 ) d (30 )% $ (371 ) e 11 % $ 1,951 (14 )% a. Refer to “Valuation Allowance” below for further discussion of current year changes. b. 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. c. Reflects a loss under U.S. federal income tax law related to the impairment of investments in oil and gas properties. d. Includes net charges of $7 million associated with the Cerro Verde mining royalties dispute, consisting of tax charges of $136 million for disputed royalties and other related mining taxes for the period October 2011 through the year 2013 (when royalties were determined based on operating income), mostly offset by a tax benefit of $129 million associated with disputed royalties and other related mining taxes for the period December 2006 through the year 2013. Refer to Note 12 for further discussion. e. Includes a net tax benefit related to changes in Peruvian tax rules of $13 million . FCX paid federal, state and foreign income taxes totaling $702 million in 2017 , $203 million in 2016 (including $27 million for discontinued operations) and $893 million in 2015 (including $187 million for discontinued operations). FCX received refunds of federal, state and foreign income taxes of $329 million in 2017 , $247 million in 2016 and $334 million in 2015 . The components of deferred taxes follow: December 31, 2017 2016 Deferred tax assets: Foreign tax credits $ 2,129 $ 2,094 Accrued expenses 789 923 Oil and gas properties 236 346 AMT credits — 444 Net operating losses 2,043 2,898 Employee benefit plans 248 403 Other 259 485 Deferred tax assets 5,704 7,593 Valuation allowances (4,575 ) (6,058 ) Net deferred tax assets 1,129 1,535 Deferred tax liabilities: Property, plant, equipment and mine development costs (3,710 ) (4,326 ) Undistributed earnings (811 ) (779 ) Other (226 ) (195 ) Total deferred tax liabilities (4,747 ) (5,300 ) Net deferred tax liabilities $ (3,618 ) $ (3,765 ) Tax Attributes. At December 31, 2017 , FCX had (i) U.S. foreign tax credits of $2.1 billion that will expire between 2018 and 2027, (ii) U.S. federal net operating losses of $6.4 billion that expire between 2032 and 2036, (iii) U.S. federal capital losses of $160 million that expire in 2021 and 2022, (iv) U.S. state net operating losses of $10.6 billion that expire between 2018 and 2037 and (v) Spanish net operating losses of $566 million that can be carried forward indefinitely. Valuation Allowance. On the basis of available information at December 31, 2017 , 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 $4.6 billion at December 31, 2017 , and $6.1 billion at December 31, 2016 , and covered all of FCX’s U.S. foreign tax credits, U.S. federal net operating losses, U.S. federal capital losses, foreign net operating losses, and substantially all of its U.S. state net operating losses. FCX’s valuation allowances at December 31, 2016 , also covered substantially all of its U.S. AMT credits. The valuation allowance related to FCX’s U.S. foreign tax credits totaled $2.1 billion at December 31, 2017 . FCX has operations in tax jurisdictions where statutory income taxes and withholding taxes are in excess of the U.S. federal income tax rate. Valuation allowances are recorded on foreign tax credits for which no benefit is expected to be realized. The valuation allowance related to FCX’s U.S. federal, state and foreign net operating losses totaled $2.1 billion at December 31, 2017 , including $280 million related to FCX’s U.S. federal and state deferred tax assets. 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 expected to be realized in future periods. Valuation allowances will continue to be carried on U.S. foreign tax credits 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, credits or net operating losses 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, credits or net operating losses that can be implemented. The $1.5 billion net decrease in the valuation allowances during 2017 primarily related to a $1.1 billion decrease associated with a reduction in the corporate income tax rate applicable to U.S. federal deferred tax assets (refer to “Tax Reform” below for further discussion) and $371 million for the reversal of valuation allowances on U.S. federal AMT credits. FCX will continue to assess whether its valuation allowances are effected by various aspects of the Act. Tax Reform. The Act, which was enacted on December 22, 2017, includes significant modifications to existing U.S. tax laws and creates many new complex tax provisions. The Act reduces the corporate income tax rate to 21 percent , eliminates the corporate AMT, provides for a refund of AMT credits, maintains hard minerals percentage depletion, allows for immediate expensing of certain qualified property and generally broadens the tax base. The Act also creates a territorial tax system (with a one-time mandatory tax on previously deferred foreign earnings), creates anti-base erosion rules that require companies to pay a minimum tax on foreign earnings and disallows certain payments from U.S. corporations to foreign related parties. As further described below, FCX has made reasonable estimates of the tax effects related to its existing deferred tax balances, AMT credit refunds and the transition tax. While FCX has not completed its analysis, its 2017 income tax provision includes provisional net tax benefits associated with the Act totaling $393 million , which includes $272 million (net of reserves) for the reversal of valuation allowances associated with anticipated refunds of AMT credits and $121 million for the decrease in corporate income tax rates. For certain provisions of the Act, FCX has not been able to make a reasonable estimate. For these items, FCX’s accounting continues to be based on existing income tax accounting guidance and the provisions of the tax laws that were in effect immediately prior to enactment of the Act. FCX will continue to refine its calculations as it gains a more thorough understanding of the Act. Elimination of Corporate AMT and Refund of AMT Credits. For tax years beginning after December 31, 2017, the corporate AMT was repealed. FCX has historically incurred an AMT liability in excess of regular tax liability, resulting in accumulated AMT credits totaling $490 million as of December 31, 2017 . The Act allows the use of existing corporate AMT credits to offset regular tax liability for tax years after December 31, 2017 . AMT credits in excess of regular liability are refundable in the years 2018 through 2021. At December 31, 2016 , FCX had estimated a $72 million benefit for AMT credits, and during 2017 recognized a $38 million benefit, all of which was expected to be refunded under prior tax law. As a result of the Act, FCX recognized an additional net benefit of $272 million in 2017, consisting of a $380 million tax benefit for additional historical AMT credits expected to be refunded, partially offset by a $108 million tax charge to establish a reserve for uncertain tax positions. FCX will continue to refine these provisional amounts as historical data is gathered and analyzed. Reduction in Corporate Income Tax Rate. The Act reduces the U.S. federal corporate income tax rate from 35 percent to 21 percent . While applicable for years after December 31, 2017, existing income tax accounting guidance requires the effects of changes in tax rates and laws on deferred tax balances to be recognized in the period in which the legislation is enacted. In fourth-quarter 2017, FCX recognized this change in the federal statutory rate and recorded a net benefit of $121 million , consisting of a $1.1 billion tax benefit associated with changes in related valuation allowances, partly offset by a $975 million tax charge related to existing net U.S. federal deferred tax assets and liabilities. FCX will continue to refine these provisional amounts as further analysis of the laws’ impacts are completed, including effects on U.S. state income taxes and the realizability of deferred tax assets in future years. Transition Tax on Previously Deferred Foreign Earnings. Under the Act, U.S. shareholders owning at least 10 percent of a foreign subsidiary generally must recognize taxable income equal to the shareholder’s pro rata share of accumulated post-1986 historical Earnings and Profits (E&P). The portion of any E&P associated with cash or cash equivalents is taxed at a rate of 15.5 percent , while any remaining E&P is taxed at a reduced rate of 8 percent . The resulting tax liability (Transition Tax) may be reduced by available foreign tax credits. Because FCX operates in foreign jurisdictions with statutory tax rates in excess of the U.S. historical statutory tax rate of 35 percent , the Transition Tax is fully offset by foreign tax credits generated in the current year. Although its 2017 income tax provision was not impacted by this one-time Transition Tax liability, FCX has yet to complete its final calculation of the total accumulated post-1986 E&P. As a result, FCX’s estimate of Transition Tax may change when the underlying calculations are finalized. Anti-Base Erosion Rules. For tax years that begin after December 31, 2017 , applicable taxpayers are required to pay the Base Erosion Anti-Abuse Tax (BEAT). BEAT is an alternative tax calculation that disallows deduction of certain amounts paid or accrued by a U.S. taxpayer to a foreign related party. The new BEAT rules are complex and FCX is evaluating this provision in the context of its global structure and operations and existing tax accounting guidance. Based on FCX’s current evaluations, it is unclear if BEAT will impact FCX and no adjustments were made related to BEAT in its 2017 income tax provision. The Act also includes provisions to tax a new class of income called Global Intangible Low-Taxed Income (GILTI). Because of the complexity of the new GILTI tax rules, FCX is continuing to evaluate this provision of the Act and the application of existing income tax accounting guidance. Under U.S. generally accepted accounting principles, FCX is allowed to make an accounting policy choice of either (i) treating taxes due on future U.S. inclusions in taxable income related to GILTI as a current period expense when incurred or (ii) factoring such amounts into the measurement of deferred taxes. FCX has not made a policy decision regarding whether to record deferred taxes on GILTI, and the selection of an accounting policy will depend, in part, on analyzing its global income to determine whether FCX expects to have future U.S. inclusions and, if so, what impact is expected. No adjustments were made related to potential GILTI tax in FCX’s 2017 income tax provision. Executive Compensation Limitation. For tax years beginning after December 31, 2017, tax deductible compensation of covered employees is limited to $1 million . In addition, the definition of covered employees is revised to include the principal executive officer, the principal financial officer, and the three other highest paid officers. If an individual is a covered employee for a tax year beginning after December 31, 2016, the individual remains a covered employee for all future years. Under a transition rule, the changes do not apply to any remuneration under specified contracts in effect on November 2, 2017. FCX is continuing to analyze the impacts of this provision. No adjustments were made related to the future disallowance of executive compensation in FCX’s 2017 income tax provision. Other. As of December 31, 2017 , 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 $1.1 billion of the $2.1 billion foreign tax credits that would otherwise expire unused. FCX continues to evaluate the impact of the Act on these income re-sourcing provisions. Other Events. In October 2017, the Peruvian Supreme Court issued a ruling in favor of SUNAT, Peru’s national tax authority, that the assessments of royalties for the year 2008 on ore processed by the Cerro Verde concentrator were proper under Peruvian law. SUNAT has assessed mining royalties on ore processed by the Cerro Verde concentrator for the period December 2006 to December 2011, which Cerro Verde has contested on the basis that its 1998 stability agreement exempts from royalties all minerals extracted from its mining concessions, irrespective of the method used for processing those minerals. As a result of the unfavorable Peruvian Supreme Court decision, FCX incurred pre-tax charges of $348 million and $7 million of net income tax expense for the year 2017, consisting of tax charges of $136 million for disputed royalties and other related mining taxes for the period October 2011 through the year 2013 (when royalties were determined based on operating income), mostly offset by a tax benefit of $129 million associated with disputed royalties and other related mining taxes for the period December 2006 through the year 2013. Refer to Note 12 for further discussion. 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 tax legislation, which was effective January 1, 2017, the corporate income tax rate was 29.5 percent , and the dividend tax rate on distributions of earnings was 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 November 2017, the progression of increasing tax rates was delayed by the Chilean legislature so that the 35 percent rate continues through 2021 increasing to 44.5 percent in 2022 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 were 4 percent for the years 2013 through 2017. Beginning in 2018 and through 2023, rates 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 expense 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: 2017 2016 2015 Balance at beginning of year $ 101 $ 110 $ 104 Additions: Prior year tax positions 302 5 7 Current year tax positions 6 28 11 Decreases: Prior year tax positions (1 ) (3 ) (6 ) Settlements with taxing authorities (17 ) — — Lapse of statute of limitations (1 ) (39 ) (6 ) Balance at end of year $ 390 $ 101 $ 110 The total amount of accrued interest and penalties associated with unrecognized tax benefits included in the consolidated balance sheets was $22 million at December 31, 2017 , $19 million at December 31, 2016 , and $16 million at December 31, 2015 . The reserve for unrecognized tax benefits of $390 million at December 31, 2017 , included $344 million ( $272 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 tax treatment of social welfare payments. Changes in the reserve for unrecognized tax benefits associated with prior year tax positions were primarily related to uncertainties associated with royalties and other related mining taxes and AMT credit refunds. Changes to the reserve for unrecognized tax benefits associated with the lapse of statute of limitations were primarily related to social welfare payments. There continues to be uncertainty related to the timing of settlements with taxing authorities, but if additional settlements are agreed upon during 2018 , 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 N/A 2014-2017 Indonesia 2008, 2011-2016 2017 Peru 2012 2013-2017 Chile 2015-2016 2017

CONTINGENCIES

CONTINGENCIES	12 Months Ended
	Dec. 31, 2017
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, 2017 , 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: 2017 2016 2015 Balance at beginning of year $ 1,221 $ 1,215 $ 1,174 Accretion expense a 84 81 78 Additions 241 26 33 Reductions b (43 ) (43 ) (3 ) Spending (64 ) (58 ) (67 ) Balance at end of year 1,439 1,221 1,215 Less current portion (134 ) (129 ) (100 ) Long-term portion $ 1,305 $ 1,092 $ 1,115 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 $134 million in 2018 , $132 million in 2019 , $117 million in 2020 , $119 million in 2021 , $88 million in 2022 and $2.7 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, 2017 , FCX’s environmental obligations totaled $1.4 billion , including $1.3 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 $3.3 billion . FCX estimates it is reasonably possible that these obligations could range between $2.8 billion and $3.7 billion on an undiscounted and unescalated basis. At December 31, 2017 , 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, Indiana, Kansas, Missouri, New Jersey, Oklahoma and Pennsylvania; and uranium mining sites in the western U.S. The recorded environmental obligations for these sites totaled $1.3 billion at December 31, 2017 . 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, consisting of FM 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 mainly consisting of 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. EPA recently identified eight additional parties as PRPs for the creek. The draft RI was submitted to EPA in November 2016, and the draft FS is expected to be submitted to EPA by the end of 2020. EPA’s remedial decision could be made in 2021 and remedial design could 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. During 2017, FCX recorded charges of $138 million for revised cost estimates for the Newtown Creek environmental obligation. 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 defendants have removed this litigation to the U.S. District Court for the District of New Jersey, where it remains pending. Pursuant to an amendment of the complaint in December of 2017, FCX is no longer a party to the lawsuit and FMC has been added to the lawsuit. 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. As a result of recent off-site soil sampling in public and private areas near the former Carteret smelter, FCX increased its associated environmental obligation for known and potential off-site environmental remediation by recording a $59 million charge to operating income in 2017. Additional sampling is ongoing and could result in additional adjustments to the related environmental remediation obligation. 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. 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 Consent Decree that was filed on January 17, 2017, in the U.S. District Court for the District of Arizona. Under the Consent Decree, which the government valued at over $600 million , FCX subsidiaries are in the process of performing the environmental investigation and remediation work at 94 sites, and the United States contributed $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. Based on updated cash flow and timing estimates, FCX reduced its associated obligation for that contingency by recording a $41 million credit to operating income in second-quarter 2017 after receiving court approval of the Consent Decree. In addition to uranium activities on tribal lands, FCX is conducting site surveys of historical uranium mining claims associated with FCX subsidiaries on non-tribal federal lands in the Four Corners region. Under a memorandum of understanding with the U.S. Bureau of Land Management (BLM), site surveys are being performed on over 5,000 mining claims, ranging from undisturbed claims to claims with mining features. Based on these surveys, BLM may provide no further action determinations for undisturbed claims or requests for additional assessment or closure activities for others. 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: 2017 2016 2015 Balance at beginning of year $ 2,635 $ 2,771 $ 2,744 Liabilities incurred 14 12 97 Settlements and revisions to cash flow estimates, net (112 ) 529 a (69 ) Accretion expense 124 137 131 Dispositions (10 ) (626 ) b — Spending (71 ) (188 ) (132 ) Balance at end of year 2,580 2,635 2,771 Less current portion (254 ) (240 ) (172 ) Long-term portion $ 2,326 $ 2,395 $ 2,599 a. Revisions to cash flow estimates were primarily related to revised estimates for an overburden stockpile in Indonesia and at certain oil and gas properties. b. 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, 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, 2017 , FCX’s financial assurance obligations associated with these U.S. mine closure and reclamation/restoration costs totaled $1.2 billion , of which $703 million was in the form of guarantees issued by FCX and FMC. At December 31, 2017 , FCX had trust assets totaling $180 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 $614 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, 2017 , FCX had accrued reclamation and closure costs of $453 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 2018. 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, 2017 , FCX had accrued reclamation and closure costs of $346 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, the Climax mine submitted a revised cost estimate for its current reclamation plan, which did not materially change the closure plan cost. As of December 31, 2017 , FCX had accrued reclamation and closure costs of $56 million for its Colorado operations. Chilean Reclamation and Closure Programs. In July 2011, the Chilean senate passed legislation regulating mine closure, which established 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, 2017 , FCX had accrued reclamation and closure costs of $58 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 and approved in August 2014. At December 31, 2017 , Cerro Verde had accrued reclamation and closure costs of $108 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 24 years. At the end of 2016, PT-FI revised its estimates for an 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, 2017 , PT-FI had accrued reclamation and closure costs of $977 million . 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 continues to work with the Department of Energy and Mineral Resources to review the application of these requirements, including discussion of other options for satisfaction of the mine closure guarantee. During 2017, PT-FI funded $22 million into a restricted time deposit account for mine closure guarantees and $7 million for reclamation guarantees. In October 2017, Indonesia’s Ministry of Environment and Forestry (the Ministry) notified PT-FI of administrative sanctions related to certain activities the Ministry indicated are not reflected in its environmental permit. The Ministry also notified PT-FI that certain operational activities were inconsistent with factors set forth in its environmental permitting studies and that additional monitoring and improvements need to be undertaken related to air quality, water drainage, treatment and handling of certain wastes, and tailings management. PT-FI has been engaged in a process to update its permits through submissions and dialogue with the Ministry, which began in late 2014. PT-FI believes that it has submitted the required documentation to update its permits and is in the process of addressing other points raised by the Ministry. 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 and 2017, FM O&G’s remaining operating areas include the GOM shelf, offshore California, the Gulf Coast and the Rocky Mountain area as of December 31, 2017 . FM O&G AROs cover approximately 250 wells and 140 platforms and other structures. At December 31, 2017 , FM O&G had accrued $553 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, for the period December 2006 to December 2011. Cerro Verde contested these 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. No assessments have been issued for the period from January 2012 through December 2013, and 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. Since 2014, Cerro Verde has been paying the disputed assessments for the period from December 2006 through December 2008 under an installment program ( $142 million paid by Cerro Verde through December 31, 2017 ). In October 2017, the Peruvian Supreme Court issued a ruling in favor of SUNAT that the assessments of royalties for the year 2008 on ore processed by the Cerro Verde concentrator were proper under Peruvian law. As a result of the unfavorable Peruvian Supreme Court ruling on the 2008 royalty dispute, Cerro Verde recorded pre-tax charges totaling $348 million ( $355 million including net tax charges and $186 million net of noncontrolling interests) in 2017, consisting of $244 million in royalty assessments, $151 million of penalties and interest related to the December 2006 to December 2008 assessments, and $89 million for related items (primarily associated with the special mining tax and net assets tax) that Cerro Verde would have incurred under the view that its concentrator was not stabilized. A summary of the charges recorded in 2017 for the Cerro Verde royalty dispute follows (in millions): Royalty and related assessment charges: Production and delivery $ 203 a Interest expense, net 145 Provision for income taxes 7 b Net loss attributable to noncontrolling interests (169 ) $ 186 a. Includes $175 million related to disputed royalty assessments for the period from December 2006 to September 2011 (when royalties were determined based on revenues), $6 million of penalties related to the December 2006 to December 2008 royalty assessments and $22 million of related charges primarily associated with the net assets tax. b. Includes tax charges of $136 million for disputed royalties ( $69 million ) and other related mining taxes ( $67 million ) for the period October 2011 through the year 2013 when royalties were determined based on operating income, mostly offset by a tax benefit of $129 million associated with disputed royalties and other related mining taxes for the period December 2006 through December 2013. Cerro Verde acted in good faith in applying the provisions of its 1998 stability agreement and continues to evaluate alternatives to defend its rights. Cerro Verde intends to seek a waiver available under Peruvian law of penalties and interest associated with this matter and has not recorded charges for potential penalties and interest totaling $385 million ( $206 million net of noncontrolling interests) at December 31, 2017 , as FCX believes that Cerro Verde can obtain a waiver under Peruvian law and a loss is not probable. Cerro Verde also intends to file a reimbursement claim with SUNAT for penalties and interest paid under the installment plan for the December 2006 to December 2008 assessments, and may have claims for reimbursement of payments it would not have made in the absence of the stabilization agreement, such as the overpayments made for a special (voluntary) levy (GEM), import duties and civil association contributions. No amounts have been recorded for these potential gain contingencies at December 31, 2017 . Other Peruvian Tax Matters. Cerro Verde has also received assessments from SUNAT for addition

COMMITMENTS AND GUARANTEES

COMMITMENTS AND GUARANTEES	12 Months Ended
	Dec. 31, 2017
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, 2017 (excluding amounts related to assets held for sale), total $34 million in 2018 , $24 million in 2019 , $20 million in 2020 , $18 million in 2021 , $17 million in 2022 and $95 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 $59 million in 2017 and $71 million in both 2016 and 2015 . Contractual Obligations. Based on applicable prices at December 31, 2017 , FCX has unconditional purchase obligations of $3.4 billion , primarily comprising the procurement of copper concentrate ( $2.4 billion ), electricity ( $0.4 billion ) and transportation services ( $0.3 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. 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. Amounts exclude approximately $0.8 billion in total contractual obligations related to assets held for sale, which is primarily for the procurement of cobalt. Obligations for cobalt provide for deliveries of specified volumes to Freeport Cobalt (an asset held for sale) at market-based prices. FCX’s unconditional purchase obligations by year total $2.4 billion in 2018 , $537 million in 2019 , $91 million in 2020 , $92 million in 2021 , $35 million in 2022 and $270 million thereafter. During the three-year period ended December 31, 2017 , 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 pursuant to the 2009 mining law that, among other things, imposed a progressive export duty on copper concentrate and restricted exports of copper concentrate and anode slimes (a by-product of the refining process containing metals, including gold) 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, under which PT-FI and the Indonesian government agreed to negotiate an amended COW to extend PT-FI’s operations beyond 2021 on acceptable terms. Subject to concluding an agreement to extend PT-FI’s operations, PT-FI agreed to: (i) construct new smelter capacity in Indonesia and provide a $115 million assurance bond to support its commitment; (ii) 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 ); (iii) divest an additional 20.64 percent interest in PT-FI at fair market value to Indonesian participants; (iv) increase the royalty paid on copper to 4.0 percent from 3.5 percent under the COW; and (v) increase the royalty paid on gold and silver to 3.75 percent from 1.0 percent under the COW. The MOU also anticipated an amendment of the COW within six months to address other matters. In January 2015, the MOU was extended to July 25, 2015, and ultimately expired on that date. Following the expiration of the MOU, the Indonesian government has continued to require the smelter bond, and to impose the increased royalty rates and export duties. PT-FI’s royalties totaled $173 million in 2017 , $131 million in 2016 and $114 million in 2015; its export duties totaled $115 million in 2017 , $95 million in 2016 and $109 million in 2015. 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 PT-FI’s operations beyond 2021, and provide the same rights and the same level of legal and fiscal certainty provided under the current COW. In January and February 2017, the Indonesian government issued new regulations pursuant to the 2009 mining law 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 mining license (known as an IUPK, which does not provide the same level of fiscal and legal protections as PT-FI’s COW, which remains in effect), a commitment to the 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 an extension of mining rights five years before expiration of the IUPK and require foreign IUPK holders to divest a 51 percent interest 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. Following the issuance of the January and February 2017 regulations and discussions with the Indonesian government, PT-FI advised the government that it was prepared to convert its COW to an IUPK, subject to extension of its long-term mining rights to 2041 and obtaining an investment stability agreement providing contractual rights with the same level of legal and fiscal certainty provided 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 time frame after approval of the extension of its long-term mining rights. On January 12, 2017, PT-FI suspended exports in response to Indonesian regulations in effect at the time. In addition, as a result of labor disturbances and a delay in the renewal of its export license for anode slimes, PT Smelting’s operations were shut down from mid-January 2017 until early March 2017. On February 10, 2017, PT-FI was forced to suspend production as a result of limited storage capacity at PT-FI and PT Smelting. On April 21, 2017, the Indonesian government issued a permit to PT-FI that allowed exports to resume for a six-month period, and PT-FI commenced export shipments. In mid-February 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, the: (i) imposition of 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 build a smelter, when no such requirement was in the COW; (v) unreasonably withholding and delaying the approval of the two successive ten-year extensions of the term of the COW; and (vi) imposition of divestment requirements not provided for in the COW. PT-FI continues to reserve its rights under these provisions. As a result of the 2017 regulatory restrictions and uncertainties regarding long-term investment stability, PT-FI took actions to adjust its cost structure, slow investments in its underground development projects and new smelter, and place certain of its workforce on furlough programs. In late March 2017, the Indonesian government amended the regulations to enable PT-FI to retain its COW until replaced with an IUPK accompanied by an investment stability agreement, and to grant PT-FI a temporary IUPK. In April 2017, PT-FI entered into a Memorandum of Understanding with the Indonesian government (the 2017 MOU) confirming that the COW would continue to be valid and honored until replaced by a mutually agreed IUPK and investment stability agreement. In the 2017 MOU, PT-FI agreed to continue to pay a 5.0 percent export duty during this period. Subsequently, the Customs Office of the Minister of Finance refused to recognize the 5.0 percent export duty under the 2017 MOU and imposed a 7.5 percent export duty under the Ministry of Finance regulations, which PT-FI has paid under protest since resuming exports in April 2017. PT-FI is disputing the incremental 2.5 percent export duty while the matter is pending in Indonesia Tax Court proceedings, and amounts paid are being held in a restricted cash account or in a long-term receivable ( $38 million total balance at December 31, 2017, of which $22 million was included in other current assets and $16 million in other assets in the consolidated balance sheets) that PT-FI expects to have released or refunded in full once the matter is resolved. In August 2017, FCX and the Indonesian government reached an understanding on a framework that would replace the COW while providing PT-FI with long-term mining rights. This framework includes (i) conversion from the COW to an IUPK providing PT-FI with long-term mining rights through 2041; (ii) Indonesian government certainty of fiscal and legal terms during the term of the IUPK; (iii) PT-FI commitment to construct a new smelter in Indonesia within five years of reaching a definitive agreement; and (iv) divestment of 51 percent of the project area interests to Indonesian participants at fair market value, structured so that FCX retains control over operations and governance of PT-FI. Execution of a definitive agreement will require approval by the Board and PT-FI’s joint venture partner, Rio Tinto, as well as the modification or revocation of current regulations and the implementation of new regulations by the Indonesian government. FCX cannot currently predict whether there will be any material accounting and tax impacts associated with the divestment. In late 2017, the Indonesian government (including the regional government of Papua Province and Mimika Regency) and PT Indonesia Asahan Aluminium (Inalum), a state-owned enterprise, which will lead the government’s consortium of investors, agreed to form a special purpose company to acquire Grasberg project area interests. Inalum is wholly owned by the Indonesian government and currently holds 9.36 percent of PT-FI’s outstanding common stock. FCX is engaged in discussions with Inalum and Rio Tinto regarding potential arrangements that would result in the Inalum consortium acquiring interests that would meet the Indonesian government’s 51 percent ownership objective in a manner satisfactory to all parties, and in a structure that would provide for continuity of FCX’s management of PT-FI’s operations and governance of the business. The parties continue to negotiate documentation on a comprehensive agreement for PT-FI’s extended operations and to reach agreement on timing, process and governance matters relating to the divestment. The parties have a mutual objective of completing negotiations and the required documentation during the first half of 2018. In December 2017, PT-FI was granted an extension of its temporary IUPK through June 30, 2018, to enable exports to continue while negotiations on a definitive agreement proceed. In February 2018, PT-FI received an extension of its export license through February 15, 2019. On February 15, 2018, PT Smelting submitted an application to renew its anode slimes export license, which expires March 1, 2018 . Until a definitive agreement is reached, PT-FI has reserved all rights under its COW, including dispute resolution procedures. FCX cannot predict whether PT-FI will be successful in reaching a satisfactory agreement on the terms of its long-term mining rights. If PT-FI is unable to reach a definitive agreement with the Indonesian government on its long-term rights, FCX intends to reduce or defer investments significantly in underground development projects and will pursue dispute resolution procedures under 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. In January 2017, FCX paid $6 million to early settle a portion of the Rowan contingent payments and no additional payments were due when the contingency period ended on June 30, 2017. 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 areas 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 $44 million in 2017 , $33 million in 2016 and $27 million in 2015 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, 2017
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 derivative contracts to hedge the market risk associated with fluctuations in the prices of commodities it purchases and sells. Derivative financial instruments used by FCX to manage its risks do not contain credit risk-related contingent provisions. As 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 of December 31, 2017 and 2016 , 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, 2017 , resulting from hedge ineffectiveness. At December 31, 2017 , FCX held copper futures and swap contracts that qualified for hedge accounting for 41 million pounds at an average contract price of $3.02 per pound, with maturities through June 2019 . 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: 2017 2016 2015 Copper futures and swap contracts: Unrealized gains (losses): Derivative financial instruments $ 4 $ 16 $ (3 ) Hedged item – firm sales commitments (4 ) (16 ) 3 Realized gains (losses): Matured derivative financial instruments 30 1 (34 ) 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 and cobalt 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. A summary of FCX’s embedded derivatives at December 31, 2017 , follows: Open Average Price Per Unit Maturities Positions Contract Market Through Embedded derivatives in provisional sales contracts: Copper (millions of pounds) 642 $ 3.06 $ 3.28 May 2018 Gold (thousands of ounces) 318 1,269 1,300 March 2018 Embedded derivatives in provisional purchase contracts: Copper (millions of pounds) 120 3.02 3.28 April 2018 Cobalt (millions of pounds) a 6 22.97 26.81 March 2018 a. Relates to assets held for sale. 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 contracts matured in 2015, and FCX had no outstanding crude oil or natural gas derivative contracts as of December 31, 2017 or 2016. 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, 2017 , Atlantic Copper held net copper forward sales contracts for 4 million pounds at an average contract price of $3.11 per pound, with maturities through February 2018 . Summary of Gains (Losses). A summary of the realized and unrealized gains (losses) recognized in operating income (loss) for commodity contracts that do not qualify as hedge transactions, including embedded derivatives, for the years ended December 31 follows: 2017 2016 2015 Embedded derivatives in provisional copper and gold sales contracts a $ 515 $ 266 $ (406 ) Crude oil options and swaps a — (35 ) 87 Copper forward contracts b (15 ) 5 (15 ) 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, 2017 2016 Commodity Derivative Assets: Derivatives designated as hedging instruments: Copper futures and swap contracts $ 11 $ 9 Derivatives not designated as hedging instruments: Embedded derivatives in provisional copper and gold sales/purchase contracts 155 137 Copper forward contracts 1 — Total derivative assets $ 167 $ 146 Commodity Derivative Liabilities: Derivatives designated as hedging instruments: Copper futures and swap contracts $ — $ 2 Derivatives not designated as hedging instruments: Embedded derivatives in provisional copper and gold sales/purchase contracts 31 56 Copper forward contracts 2 — Total derivative liabilities $ 33 $ 58 The table above excludes $24 million of embedded derivatives in provisional cobalt purchase contracts at December 31, 2017, which are reflected in liabilities held for sale. FCX’s commodity contracts have netting arrangements with counterparties with which the right of offset exists, and it is FCX’s policy to generally offset balances by counterparty on the balance sheet. FCX’s embedded derivatives on provisional sales/purchases contracts 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, 2017 2016 2017 2016 Gross amounts recognized: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts $ 155 $ 137 $ 31 $ 56 Copper derivatives 12 9 2 2 167 146 33 58 Less gross amounts of offset: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts — 12 — 12 Copper derivatives 1 2 1 2 1 14 1 14 Net amounts presented in balance sheet: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts 155 125 31 44 Copper derivatives 11 7 1 — $ 166 $ 132 $ 32 $ 44 Balance sheet classification: Trade accounts receivable $ 151 $ 119 $ — $ 13 Other current assets 11 7 — — Accounts payable and accrued liabilities 4 6 32 31 $ 166 $ 132 $ 32 $ 44 The table above excludes $24 million of embedded derivatives in provisional cobalt purchase contracts at December 31, 2017, which are reflected in liabilities held for sale. Credit Risk. FCX is exposed to credit loss when financial institutions with which it 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, 2017 , the maximum amount of credit exposure associated with derivative transactions was $166 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 $2.9 billion at December 31, 2017 , and $64 million at December 31, 2016 ), 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, as of December 31, 2017 , FCX has contingent consideration assets related to certain 2016 asset sales (refer to Note 15 for the related fair value and to Note 2 for further discussion of these instruments).

FAIR VALUE MEASUREMENT (Notes)

FAIR VALUE MEASUREMENT (Notes)	12 Months Ended
	Dec. 31, 2017
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) and the lowest priority to unobservable inputs (Level 3). FCX recognizes transfers between levels at the end of the reporting period. FCX did not have any significant transfers in or out of Level 1, 2 or 3 for 2017 . 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. A summary of the carrying amount and fair value of FCX’s financial instruments (including those measured at NAV as a practical expedient), other than cash and cash equivalents, accounts receivable, restricted cash, and accounts payable and accrued liabilities (refer to Note 14) follows: At December 31, 2017 Carrying Fair Value Amount Total NAV Level 1 Level 2 Level 3 Assets Investment securities: a,b U.S. core fixed income fund $ 25 $ 25 $ 25 $ — $ — $ — Equity securities 5 5 — 5 — — Total 30 30 25 5 — — Legally restricted funds: a U.S. core fixed income fund 55 55 55 — — — Government bonds and notes 40 40 — — 40 — Corporate bonds 32 32 — — 32 — Government mortgage-backed securities 27 27 — — 27 — Asset-backed securities 15 15 — — 15 — Money market funds 11 11 — 11 — — Collateralized mortgage-backed securities 8 8 — — 8 — Municipal bonds 1 1 — — 1 — Total 189 189 55 11 123 — Derivatives: Embedded derivatives in provisional sales/purchase contracts in a gross asset position c 155 155 — — 155 — Copper futures and swap contracts c 11 11 — 9 2 — Copper forward contracts c 1 1 — — 1 — — Contingent consideration for the sales of TFHL and onshore California oil and gas properties a 108 108 — — 108 — Total 275 275 — 9 266 — Contingent consideration for the sale of the Deepwater GOM oil and gas properties a 150 134 — — — 134 Liabilities Derivatives: c Embedded derivatives in provisional sales/purchase contracts in a gross liability position d $ 31 $ 31 $ — $ — $ 31 $ — Copper forward contracts 2 2 — 1 1 — Total 33 33 — 1 32 — Long-term debt, including current portion e 13,117 13,269 — — 13,269 — 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 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 f 23 23 — — 23 — Long-term debt, including current portion e 16,027 15,196 — — 15,196 — 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 $52 million at December 31, 2017 , and $28 million at December 31, 2016 , and (ii) other assets of $123 million at December 31, 2017 , and $122 million at December 31, 2016 , 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. Excludes $24 million of embedded derivatives in provisional cobalt purchase contracts (refer to Note 14 for further discussion). e. Recorded at cost except for debt assumed in acquisitions, which are recorded at fair value at the respective acquisition dates. In addition, debt excludes $112 million at December 31, 2017, and $98 million at December 31, 2016, related to assets held for sale (which approximated fair value). f. Included in accounts payable and accrued liabilities. 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 (which are 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 embedded derivatives on provisional cobalt purchases are valued using quoted monthly LME cobalt forward prices or average published Metals Bulletin cobalt prices, subject to certain adjustments as specified by the terms of the contracts, at each reporting date based on the month of maturity (Level 2). 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 December 31, 2016, fair value of contingent payments for the settlements of drilling rig contracts (refer to Note 13 for further discussion) was 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 used various observable inputs, including WTI crude oil forward prices, volatilities, discount rate and settlement terms. As a result, these contingent payments were 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 those used by 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, 2017 . A summary of the changes in the fair value of FCX ’ s Level 3 instruments for the years ended December 31 follows: Contingent Consideration a Crude Oil Options 2017 2016 2015 Balance at beginning of year $ 135 $ — $ 316 Net realized gains — — 86 b Net unrealized (losses) gains related to assets still held at the end of the year (1 ) 135 — Net settlements — — (402 ) c Balance at the end of the year $ 134 $ 135 $ — a. Reflects contingent consideration associated with the sale of the Deepwater GOM oil and gas properties in December 2016 (refer to Note 2 for further discussion). b. Includes net realized gains of $87 million recorded in revenues and interest expense associated with deferred premiums of $1 million . c. Includes interest payments of $4 million . 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.

BUSINESS SEGMENTS INFORMATION

BUSINESS SEGMENTS INFORMATION	12 Months Ended
	Dec. 31, 2017
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: 2017 2016 2015 Copper in concentrate a $ 5,373 $ 4,502 $ 2,927 Copper cathode 4,557 3,925 4,159 Rod, and other refined copper products 2,272 1,963 2,481 Gold 2,032 1,512 1,540 Molybdenum 889 651 783 Oil 73 1,304 1,694 Other 1,207 973 1,023 Total $ 16,403 $ 14,830 $ 14,607 a. Amounts are net of treatment and refining charges totaling $536 million in 2017 , $652 million in 2016 and $485 million in 2015 . Geographic Area. Information concerning financial data by geographic area follows: December 31, 2017 2016 2015 Long-lived assets: a Indonesia $ 8,938 $ 8,794 $ 7,701 U.S. 8,312 8,282 b 16,569 Peru 7,485 7,981 8,432 Chile 1,221 1,269 1,387 Other 257 248 4,706 c Total $ 26,213 $ 26,574 $ 38,795 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 (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, primarily associated with TFHL discontinued operations. Refer to Note 2 for further discussion. Years Ended December 31, 2017 2016 2015 Revenues: a U.S. $ 5,344 $ 5,896 $ 6,842 Indonesia 2,023 1,402 1,054 Japan 1,882 1,350 1,246 Switzerland 1,200 1,147 618 China 1,136 1,125 688 Spain 1,086 878 960 India 782 553 532 Philippines 378 261 169 Korea 364 219 177 Chile 248 250 397 Bermuda 226 273 159 United Kingdom 226 204 83 Other 1,508 1,272 1,682 Total $ 16,403 $ 14,830 $ 14,607 a. Revenues are attributed to countries based on the location of the customer. Major Customers and Affiliated Companies. Copper concentrate sales to PT Smelting totaled 12 percent of FCX’s consolidated revenues for the year ended December 31, 2017 , which is the only customer that accounted for 10 percent or more of FCX’s consolidated revenues during the three years ended December 31, 2017 . Consolidated revenues include sales to the noncontrolling interest owners of FCX’s South America mining operations totaling $1.1 billion in 2017 and $1.0 billion in both 2016 and 2015 , and PT-FI’s sales to PT Smelting totaling $2.0 billion in 2017 , $1.4 billion in 2016 and $1.1 billion in 2015 . Labor Matters . As of December 31, 2017 , approximately 40 percent of FCX’s global labor force was covered by collective bargaining agreements, and approximately 15 percent was covered by agreements that expired and are currently being negotiated or will expire within one year. Business Segments. FCX has organized its 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. Separately disclosed in the following tables are FCX’s reportable segments, which include the Morenci, Cerro Verde and Grasberg (Indonesia Mining) copper mines, the Rod & Refining operations and Atlantic Copper Smelting & Refining. FCX’s reportable segments previously included U.S. Oil & Gas operations. During 2016, FCX completed the sales of its Deepwater GOM, onshore California and Haynesville oil and gas properties. As a result, beginning in 2017, the U.S. Oil & Gas operations no longer qualify as a reportable segment, and oil and gas results for all periods presented have been included in Corporate, Other & Eliminations in the following tables. Refer to Note 2 for further discussion of these sales. Intersegment sales between FCX’s business segments are based on terms similar to arms-length transactions with third parties at the time of the sale. Intersegment sales may not be reflective of the actual prices ultimately realized because of a variety of factors, including additional processing, timing of sales to unaffiliated customers and transportation premiums. In addition, intersegment sales from Tenke to FCX’s other consolidated subsidiaries have been eliminated in discontinued operations (refer to Note 2). FCX defers recognizing profits on sales from its mines to other divisions, including Atlantic Copper (FCX’s wholly owned smelter and refinery in Spain) and on 25 percent of PT-FI’s sales to PT Smelting (PT-FI’s 25-percent-owned smelter and refinery in Indonesia), until final sales to third parties occur. Quarterly variations in ore grades, the timing of intercompany shipments and changes in product prices result in variability in FCX’s net deferred profits and quarterly earnings. FCX allocates certain operating costs, expenses and capital expenditures to its operating divisions and individual segments. However, not all costs and expenses applicable to an operation are allocated. U.S. federal and state income taxes are recorded and managed at the corporate level (included in Corporate, Other & Eliminations), whereas foreign income taxes are recorded and managed at the applicable country level. In addition, most mining exploration and research activities are managed on a consolidated basis, and those costs along with some selling, general and administrative costs, are not allocated to the operating divisions or individual segments. Accordingly, the following segment information reflects management determinations that may not be indicative of what the actual financial performance of each operating division or segment would be if it was an independent entity. North America Copper Mines. FCX operates seven open-pit copper mines in North America – Morenci, Bagdad, Safford, Sierrita and Miami in Arizona, and Chino and Tyrone 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 segment. In addition to copper, certain of FCX’s North America copper mines also produce molybdenum concentrate, gold 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 49 percent of FCX’s North America copper during 2017 . 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. 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 86 percent of FCX’s South America copper during 2017 . Indonesia Mining. Indonesia mining includes PT-FI’s Grasberg minerals district that produces copper concentrate that contains significant quantities of gold and silver. Molybdenum Mines. Molybdenum mines include the wholly owned Henderson underground mine and Climax open-pit mine, both 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 2017 , Atlantic Copper purchased 18 percent of its concentrate requirements from the North America copper mines and 15 percent from the South America mining operations, with the remainder purchased from third parties. Corporate, Other & Eliminations. Corporate, Other & Eliminations consists of FCX’s other mining and eliminations, oil and gas operations and other corporate and elimination items. Other mining and 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, five non-operating copper mines in North America (Ajo, Bisbee, Tohono, Twin Buttes and Christmas in Arizona) and other mining support entities. Financial Information by Business Segment North America Copper Mines South America Atlantic Corporate, Copper Other Cerro Indonesia Molybdenum Rod & Smelting & Elimi- FCX Morenci Other Total Verde Other Total Mining Mines Refining & Refining nations a Total Year Ended December 31, 2017 Revenues: Unaffiliated customers $ 228 $ 180 $ 408 $ 2,811 $ 498 $ 3,309 $ 4,445 $ — $ 4,456 $ 2,031 $ 1,754 b $ 16,403 Intersegment 1,865 2,292 4,157 385 — 385 — 268 26 1 (4,837 ) — Production and delivery 1,052 1,715 2,767 1,878 c 366 2,244 1,743 d 229 4,470 1,966 (3,119 ) 10,300 Depreciation, depletion and amortization 178 247 425 441 84 525 556 76 10 28 94 1,714 Metals inventory adjustments — 2 2 — — — — 1 — — 5 8 Selling, general and administrative expenses 2 2 4 9 — 9 126 d — — 18 327 484 Mining exploration and research expenses — 2 2 — — — — — — — 92 94 Environmental obligations and shutdown costs — — — — — — — — — — 251 251 Net gain on sales of assets — — — — — — — — — — (81 ) (81 ) Operating income (loss) 861 504 1,365 868 48 916 2,020 (38 ) 2 20 (652 ) 3,633 Interest expense, net 3 1 4 212 c — 212 4 — — 18 563 801 Provision for (benefit from) income taxes — — — 436 c 10 446 869 — — 5 (437 ) e 883 Total assets at December 31, 2017 2,861 4,241 7,102 8,878 1,702 10,580 10,911 1,858 277 822 5,752 f 37,302 Capital expenditures 114 53 167 103 12 115 875 5 4 41 203 1,410 Year Ended December 31, 2016 Revenues: Unaffiliated customers $ 444 $ 240 $ 684 $ 2,241 $ 510 $ 2,751 $ 3,233 $ — $ 3,833 $ 1,825 $ 2,504 b,g $ 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 1,351 407 1,758 1,794 199 3,836 1,712 (1,534 ) h 10,697 Depreciation, depletion and amortization 217 313 530 443 110 553 384 68 10 29 956 2,530 Impairment of oil and gas properties — — — — — — — — — — 4,317 4,317 Metals inventory adjustments — 1 1 — — — — 15 — — 20 36 Selling, general and administrative expenses 2 3 5 8 1 9 90 — — 17 486 h 607 Mining exploration and research expenses — 3 3 — — — — — — — 61 64 Environmental obligations and shutdown costs — — — — — — — — — — 20 20 Net gain on sales of assets (576 ) — (576 ) — — — — — — — (73 ) (649 ) Operating income (loss) 1,143 336 1,479 626 (8 ) 618 1,027 (96 ) 16 72 (5,908 ) (2,792 ) Interest expense, net 3 1 4 82 — 82 — — — 15 654 755 Provision for (benefit from) income taxes — — — 222 (6 ) 216 442 — — 9 (296 ) 371 Total assets at December 31, 2016 2,863 4,448 7,311 9,076 1,533 10,609 10,493 1,934 220 658 6,092 f 37,317 Capital expenditures 77 25 102 380 2 382 1,025 2 1 17 1,284 i 2,813 a. Includes U.S. oil and gas operations, which were previously a reportable segment. 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 America and South America copper mines. c. Includes net charges of $203 million in production and delivery costs, $145 million in interest expense and $7 million in provision for income taxes associated with disputed royalties for prior years. d. Includes net charges of $120 million in production and delivery costs and $5 million in selling, general and administrative expenses for PT-FI workforce reductions. e. Includes provisional tax credits totaling $393 million related to U.S. tax reform, primarily for the reversal of valuation allowances associated with the anticipated refund of AMT credits and a decrease in corporate income tax rates. f. Includes (i) assets held for sale totaling $598 million at December 31, 2017 , and $344 million at December 31, 2016 , primarily associated with Freeport Cobalt and the Kisanfu exploration project and (ii) includes assets associated with oil and gas operations totaling $271 million at December 31, 2017 , and $467 million at December 31, 2016 . g. Includes net mark-to-market losses of $35 million associated with oil derivative contracts, which were entered into as part of the terms to sell the onshore California oil and gas properties in 2016. h. Includes net charges for oil and gas operations totaling $1.0 billion in production and delivery costs, primarily for drillship settlements/idle rig and contract termination costs, inventory adjustments, asset impairments and other net charges, and $85 million in selling, general and administrative expenses for net restructuring charges. i. Includes $1.2 billion associated with oil and gas operations and $73 million associated with discontinued operations. Refer to Note 2 for a summary of the results of discontinued operations. North America Copper Mines South America Atlantic Corporate, Copper Other Cerro Indonesia Molybdenum Rod & Smelting & Elimi- FCX Morenci Other Total Verde Other Total Mining Mines Refining & Refining nations a Total Year Ended December 31, 2015 Revenues: Unaffiliated customers $ 558 $ 351 $ 909 $ 1,065 $ 808 $ 1,873 $ 2,617 $ — $ 4,125 $ 1,955 $ 3,128 b,c $ 14,607 Intersegment 1,646 2,571 4,217 68 (7 ) d 61 36 348 29 15 (4,706 ) — Production and delivery e 1,523 2,276 3,799 815 623 1,438 1,808 312 4,129 1,848 (2,641 ) f 10,693 Depreciation, depletion and amortization 217 343 560 219 133 352 293 97 9 39 1,890 3,240 Impairment of oil and gas properties — — — — — — — — — — 13,144 13,144 Metals inventory adjustments — 142 142 — 73 73 — 11 — — 112 338 Selling, general and administrative expenses 3 3 6 3 1 4 103 — — 16 429 558 Mining exploration and research expenses — 7 7 — — — — — — — 100 107 Environmental obligations and shutdown costs — 3 3 — — — — — — — 75 78 Net gain on sales of assets — (39 ) (39 ) — — — — — — — — (39 ) Operating income (loss) 461 187 648 96 (29 ) 67 449 (72 ) 16 67 (14,687 ) (13,512 ) Interest expense, net 2 2 4 16 — 16 — — — 10 587 617 Provision for (benefit from) income taxes — — — 13 (9 ) 4 195 — — 4 (2,154 ) (1,951 ) Total assets at December 31, 2015 3,567 4,878 8,445 9,445 1,661 11,106 9,306 1,999 219 612 14,890 g 46,577 Capital expenditures 253 102 355 1,674 48 1,722 901 13 4 23 3,335 g 6,353 a. Includes U.S. oil and gas operations, which were previously a reportable segment. b. Includes revenues from FCX’s molybdenum sales company, which included sales of molybdenum produced by the Molybdenum mines and by certain of the North America and South America copper mines. c. Includes net mark-to-market gains associated with crude oil and natural gas derivative contracts totaling $87 million . d. Reflects net reductions for provisional pricing adjustments to prior open sales. e. 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 and $23 million at Corporate, Other & Eliminations. f. Includes charges for oil and gas operations totaling $188 million primarily for idle/terminated rig costs, inventory adjustments, asset impairments and other charges. g. Includes (i) assets held for sale totaling $4.9 billion and (ii) capital expenditures totaling $229 million associated with discontinued operations. Refer to Note 2 for a summary of the results of discontinued operations.

GUARANTOR FINANCIAL STATEMENTS

GUARANTOR FINANCIAL STATEMENTS GUARANTOR FINANCIAL STATEMENTS	12 Months Ended
	Dec. 31, 2017
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 FCX’s revolving credit facility. The guarantee ranks senior in right of payment with all of FM O&G LLC’s future subordinated obligations and is effectively subordinated in right of payment to any debt of FM O&G LLC’s subsidiaries. The indentures provide that FM O&G LLC’s guarantee may be released or terminated for certain obligations under the following circumstances: (i) all or substantially all of the equity interests or assets of FM O&G LLC are sold to a third party; or (ii) FM O&G LLC no longer has any obligations under any FM O&G senior notes or any refinancing thereof and no longer guarantees any obligations of FCX under the 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, 2017 and 2016 , and the related condensed consolidating statements of comprehensive income (loss) and the condensed consolidating statements of cash flows for the three years ended December 31, 2017 , which should be read in conjunction with FCX’s notes to the consolidated financial statements. CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2017 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX ASSETS Current assets $ 75 $ 671 $ 10,823 $ (790 ) $ 10,779 Property, plant, equipment and mine development costs, net 14 11 22,821 (10 ) 22,836 Oil and gas properties subject to amortization, less accumulated amortization and impairments — — 8 — 8 Investments in consolidated subsidiaries 19,570 — — (19,570 ) — Other assets 943 48 3,179 (491 ) 3,679 Total assets $ 20,602 $ 730 $ 36,831 $ (20,861 ) $ 37,302 LIABILITIES AND EQUITY Current liabilities $ 1,683 $ 220 $ 4,073 $ (938 ) $ 5,038 Long-term debt, less current portion 10,021 6,512 5,440 (10,270 ) 11,703 Deferred income taxes 748 a — 2,874 — 3,622 Environmental and asset retirement obligations, less current portion — 201 3,430 — 3,631 Investments in consolidated subsidiary — 853 10,397 (11,250 ) — Other liabilities 173 3,340 1,987 (3,488 ) 2,012 Total liabilities 12,625 11,126 28,201 (25,946 ) 26,006 Equity: Stockholders’ equity 7,977 (10,396 ) 5,916 4,480 7,977 Noncontrolling interests — — 2,714 605 3,319 Total equity 7,977 (10,396 ) 8,630 5,085 11,296 Total liabilities and equity $ 20,602 $ 730 $ 36,831 $ (20,861 ) $ 37,302 a. All U.S.-related deferred income taxes are recorded at the parent company. CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2016 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX ASSETS Current assets $ 230 $ 1,790 $ 11,675 $ (3,260 ) $ 10,435 Property, plant, equipment and mine development costs, net 19 24 23,176 — 23,219 Oil and gas properties 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 $ 3,895 $ 308 $ 3,306 $ (3,244 ) $ 4,265 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 STATEMENTS OF COMPREHENSIVE INCOME (LOSS) Year Ended December 31, 2017 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 52 $ 16,351 $ — $ 16,403 Total costs and expenses 42 78 12,640 10 12,770 Operating (loss) income (42 ) (26 ) 3,711 (10 ) 3,633 Interest expense, net (467 ) (227 ) (455 ) 348 (801 ) Net gain (loss) on early extinguishment of debt 22 5 (6 ) — 21 Other income (expense), net 339 — 58 (348 ) 49 (Loss) income before income taxes and equity in affiliated companies’ net earnings (losses) (148 ) (248 ) 3,308 (10 ) 2,902 Benefit from (provision for) income taxes 220 (108 ) (998 ) 3 (883 ) Equity in affiliated companies’ net earnings (losses) 1,745 10 (337 ) (1,408 ) 10 Net income (loss) from continuing operations 1,817 (346 ) 1,973 (1,415 ) 2,029 Net income from discontinued operations — — 66 — 66 Net income (loss) 1,817 (346 ) 2,039 (1,415 ) 2,095 Net income attributable to noncontrolling interests: Continuing operations — — (150 ) (124 ) (274 ) Discontinued operations — — (4 ) — (4 ) Net income (loss) attributable to common stockholders $ 1,817 $ (346 ) $ 1,885 $ (1,539 ) $ 1,817 Other comprehensive income (loss) 61 — 61 (61 ) 61 Total comprehensive income (loss) $ 1,878 $ (346 ) $ 1,946 $ (1,600 ) $ 1,878 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 ) Net gain on early extinguishment and exchanges of debt 26 — — — 26 Other income (expense), net 271 — 70 (292 ) 49 (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 impairment charges totaling $1.5 billion at the FM O&G LLC Guarantor and $2.8 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 INCOME (LOSS) 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 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, 2017 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Net cash (used in) provided by operating activities $ (156 ) $ (467 ) $ 5,305 $ — $ 4,682 Cash flow from investing activities: Capital expenditures — (25 ) (1,385 ) — (1,410 ) Intercompany loans (777 ) — — 777 — Dividends from (investments in) consolidated subsidiaries 3,226 (15 ) 120 (3,331 ) — Asset sales and other, net — 57 (10 ) — 47 Net cash provided by (used in) investing activities 2,449 17 (1,275 ) (2,554 ) (1,363 ) Cash flow from financing activities: Proceeds from debt — — 955 — 955 Repayments of debt (2,281 ) (205 ) (1,326 ) — (3,812 ) Intercompany loans — 663 114 (777 ) — Cash dividends paid and distributions received, net (2 ) — (3,440 ) 3,266 (176 ) Other, net (10 ) (10 ) (67 ) 65 (22 ) Net cash (used in) provided by financing activities (2,293 ) 448 (3,764 ) 2,554 (3,055 ) Net (decrease) increase in cash and cash equivalents — (2 ) 266 — 264 Increase in cash and cash equivalents in assets held for sale — — (62 ) — (62 ) Cash and cash equivalents at beginning of year — 2 4,243 — 4,245 Cash and cash equivalents at end of year $ — $ — $ 4,447 $ — $ 4,447 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Year Ended December 31, 2016 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX 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 ) — Asset sales and other, net 2 1,673 4,692 (4 ) 6,363 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 Year Ended December 31, 2015 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX 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 ) Asset sales and 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

SUBSEQUENT EVENTS (Notes)

SUBSEQUENT EVENTS (Notes)	12 Months Ended
	Dec. 31, 2017
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS In February 2018, the Board reinstated a cash dividend on FCX’s common stock. The Board intends to declare a quarterly dividend of $0.05 per share, with the initial dividend expected to be paid May 1, 2018. FCX evaluated events after December 31, 2017 , 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, 2017
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information	QUARTERLY FINANCIAL INFORMATION (UNAUDITED) First Quarter Second Quarter Third Quarter Fourth Quarter Year 2017 Revenues $ 3,341 $ 3,711 $ 4,310 $ 5,041 $ 16,403 Operating income 580 669 917 1,467 3,633 Net income from continuing operations 268 326 242 1,193 2,029 Net income from discontinued operations 38 9 3 16 66 Net income 306 335 245 1,209 2,095 Net (income) loss attributable to noncontrolling interests: Continuing operations (75 ) (66 ) 35 (168 ) (274 ) Discontinued operations (3 ) (1 ) — — (4 ) Net income attributable to common stockholders 228 268 280 1,041 1,817 Basic net income per share attributable to common stockholders: Continuing operations $ 0.13 $ 0.18 $ 0.19 $ 0.71 $ 1.21 Discontinued operations 0.03 — — 0.01 0.04 $ 0.16 $ 0.18 $ 0.19 $ 0.72 $ 1.25 Basic weighted-average shares outstanding 1,446 1,447 1,448 1,448 1,447 Diluted net income per share attributable to common stockholders: Continuing operations $ 0.13 $ 0.18 $ 0.19 $ 0.70 $ 1.21 Discontinued operations 0.03 — — 0.01 0.04 $ 0.16 $ 0.18 $ 0.19 $ 0.71 $ 1.25 Diluted weighted-average shares outstanding 1,454 1,453 1,454 1,455 1,454 Following summarizes significant charges (credits) included in FCX’s net income attributable to common stockholders for the 2017 quarters: • Net charges at Cerro Verde related to Peruvian government claims for disputed royalties (refer to Note 12 for further discussion) totaled $186 million to net income attributable to common stock or $0.13 per share for the year (consisting of $203 million to operating income, $145 million to interest expense and $7 million to provision for income taxes, net of $169 million to noncontrolling interests), most of which was recorded in the third quarter. • Net charges associated with PT-FI workforce reductions for the year totaled $125 million to operating income ( $66 million to net income attributable to common stockholders or $0.04 per share) and included $21 million in the first quarter, $87 million in the second quarter, $9 million in the third quarter and $8 million in the fourth quarter. • Net adjustments to environmental obligations and related litigation reserves totaled $210 million to operating income and net income attributable to common stockholders ( $0.14 per share) for the year, and included net charges (credits) totaling $19 million in the first quarter, $(30) million in the second quarter, $64 million in the third quarter and $157 million in the fourth quarter. • Net gains on sales of assets totaling $81 million to operating income and net income attributable to common stockholders ( $0.06 per share) for the year were mostly associated with sales of oil and gas properties, and included $23 million in the first quarter, $10 million in the second quarter, $33 million in the third quarter and $15 million in the fourth quarter. Refer to Note 2 for further discussion of asset dispositions. • Net tax credits totaling $438 million to net income attributable to common stockholders ( $0.30 per share) for the year were mostly associated with provisional tax credits associated with U.S. tax reform ( $393 million ), which were recorded in the fourth quarter. Refer to Note 11 for further discussion. • In November 2016, FCX completed the sale of its interest in TFHL (refer to Note 2 for further discussion), and the results of TFHL are reported as discontinued operations for all periods presented. Net income from discontinued operations for the 2017 periods primarily reflects adjustments to the fair value of the potential contingent consideration related to the sale, which will continue to be adjusted through December 31, 2019. First Quarter Second Quarter Third Quarter Fourth Quarter Year 2016 Revenues $ 3,242 $ 3,334 $ 3,877 $ 4,377 $ 14,830 Operating (loss) income (3,872 ) 18 359 703 (2,792 ) Net (loss) income from continuing operations (4,097 ) (229 ) 292 202 (3,832 ) Net loss from discontinued operations (4 ) (181 ) (6 ) (2 ) (193 ) Net (loss) income (4,101 ) (410 ) 286 200 (4,025 ) Net income, and gain on redemption and preferred dividends attributable to noncontrolling interests: Continuing operations (73 ) (57 ) (47 ) 111 (66 ) 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 to 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 ) Basic weighted-average shares outstanding 1,251 1,269 1,346 1,403 1,318 Diluted weighted-average shares outstanding 1,251 1,269 1,351 1,410 1,318 Following summarizes significant charges (credits) included in FCX’s net (loss) income attributable to common stockholders for the 2016 quarters: • Impairment of oil and oil and gas properties pursuant to full cost accounting rules (refer to Note 1 for further discussion) totaled $4.3 billion to operating (loss) income and net (loss) income attributable to common stockholders ( $3.28 per share) for the year, and included $3.8 billion in the first quarter, $291 million in the second quarter and $239 million in the third quarter. • Other oil and gas charges for the year totaled $1.1 billion to operating (loss) income and net (loss) income attributable to common stockholders ( $0.84 per share) mostly associated with drillship settlements/idle rig costs (refer to Note 13 for further discussion of drillship settlements), inventory adjustments, other asset impairment and restructuring charges, and included $201 million in the first quarter, $729 million in the second quarter, $50 million in the third quarter and $142 million in the fourth quarter. • During 2016, FCX completed several asset sale transactions, including the sale of substantially all of its oil and gas properties and the sale of an additional undivided interest in the Morenci minerals district (refer to Note 2 for further discussion of these and other 2016 asset dispositions). Net gains (losses) on the sales of assets totaled $649 million to operating (loss) income and net (loss) income attributable to common stockholders ( $0.49 per share) for the year, and included $749 million in the second quarter, $13 million in the third quarter and $(113) million in the fourth quarter. • Net tax credits of $374 million to net (loss) income attributable to common stockholders ( $0.28 per share) for the year were primarily associated with AMT credits, changes to valuation allowances and net operating loss claims, and included net tax (charges) credits totaling $(42) million in the second quarter, $332 million in the third quarter and $84 million in the fourth quarter. • Net loss from discontinued operations for the 2016 periods reflects the results of TFHL and includes charges for allocated interest expense associated with the portion of a bank term loan that was required to be repaid as a result of the sale of FCX’s interest in TFHL. The 2016 periods also include charges for the loss on disposal totaling $198 million ( $0.15 per share) for the year, consisting of $177 million in the second quarter, $5 million in the third quarter and $16 million in the fourth quarter. Refer to Note 2 for further discussion of the sale of FCX’s interest in TFHL. • Net (loss) income attributable to common stockholders in the fourth quarter and for the year included a gain on redemption of noncontrolling interest for the settlement of FCX’s preferred stock obligation at its Plains Offshore subsidiary totaling $199 million ( $0.15 per share for the year). Refer to Note 2 for further discussion.

SUPPLEMENTARY MINERAL RESERVE I

SUPPLEMENTARY MINERAL RESERVE INFORMATION (UNAUDITED) SUPPLEMENTARY MINERAL RESERVE INFORMATION	12 Months Ended
	Dec. 31, 2017
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, 2017 , 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, 2017 , were determined using $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, 2017 , LME spot copper prices averaged $2.50 per pound, London PM gold prices averaged $1,223 per ounce and the weekly average price for molybdenum quoted by Metals Week averaged $7.12 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, 2017 Copper a (billion pounds) Gold (million ounces) Molybdenum (billion pounds) North America 33.5 0.3 2.22 South America 28.1 — 0.62 Indonesia b 25.1 23.2 — Consolidated c 86.7 23.5 2.84 Net equity interest d 71.3 21.3 2.56 a. Consolidated recoverable copper reserves included 2.1 billion pounds in leach stockpiles and 0.7 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 273.4 million ounces of silver, which were determined using $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 218.2 million ounces of silver. Recoverable Proven and Probable Mineral Reserves Estimated at December 31, 2017 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 3,134 0.26 — — c 11.8 — 0.14 Sierrita 2,245 0.23 — c 0.03 9.9 0.1 1.01 Bagdad 1,405 0.31 — c 0.02 7.5 0.1 0.36 Safford, including d 662 0.45 — — 5.0 — — Chino, including Cobre d 276 0.46 0.02 — c 2.4 0.1 0.01 Climax 160 — — 0.15 — — 0.50 Henderson 74 — — 0.17 — — 0.24 Tyrone 9 0.42 — — 0.1 — — Miami — — — — 0.1 — — South America Developed and producing: Cerro Verde 3,577 0.37 — 0.01 25.6 — 0.62 El Abra 394 0.44 — — 2.5 — — Indonesia e Developed and producing: Deep Mill Level Zone 437 0.91 0.76 — 7.7 8.5 — Deep Ore Zone 79 0.54 0.76 — 0.9 1.6 — Big Gossan 58 2.22 0.93 — 2.6 1.2 — Grasberg open pit 34 1.29 2.64 — 1.1 2.7 — Under development: Grasberg Block Cave 963 1.01 0.72 — 18.1 14.5 — Undeveloped: Kucing Liar 360 1.25 1.07 — 8.4 5.4 — Total 100% basis 13,867 103.7 34.2 2.88 Consolidated f 86.7 23.5 2.84 FCX’s equity share g 71.3 21.3 2.56 a. Excludes material contained in stockpiles. b. Includes estimated recoverable metals contained in stockpiles. c. Amounts not shown because of rounding. d. The Lone Star oxide project is under development, and the Cobre ore body is undeveloped. e. 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). f. 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. g. 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, 2017
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) Following the sales of substantially all of FCX’s oil and gas properties, including the sale of its Deepwater GOM, onshore California and Haynesville oil and gas properties in 2016, along with the sales of its property interests in the Madden area in central Wyoming and certain property interests in the GOM Shelf in 2017, FCX’s oil and gas producing activities are not considered significant beginning in 2017. Refer to Note 2 for further discussion. 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, 2016 and 2015, follows: 2016 2015 Property acquisition costs for unproved properties $ 7 $ 61 Exploration costs 22 1,250 Development costs 749 1,442 $ 778 $ 2,753 These amounts included increases (decreases) in AROs of $37 million in 2016 and $(80) million in 2015 ; capitalized general and administrative expenses of $78 million in 2016 and $124 million in 2015 ; and capitalized interest of $7 million in 2016 and $58 million in 2015 . 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 Properties subject to amortization $ 27,507 $ 24,538 Accumulated amortization a (27,433 ) (22,276 ) $ 74 $ 2,262 a. Includes charges of $4.3 billion in 2016 and $13.1 billion in 2015 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 and $33.46 in 2015 . 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 was included in the amortization base at December 31, 2017 and 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 and 2015 , presented below, exclude non-oil and gas revenues, general and administrative expenses, interest expense and interest income. Income tax benefit was determined by applying the statutory rates to pre-tax operating results: 2016 2015 Revenues from oil and gas producing activities $ 1,513 $ 1,994 Production and delivery costs (1,829 ) a (1,215 ) Depreciation, depletion and amortization (839 ) (1,772 ) Impairment of oil and gas properties (4,317 ) (13,144 ) Income tax benefit (based on FCX’s U.S. federal statutory tax rate) — b 5,368 Results of operations from oil and gas producing activities $ (5,472 ) $ (8,769 ) 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 for the years ended December 31, 2016 and 2015. 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 reflects 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. 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 and 2015 . 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 — — — 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 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 , and 9 MMBbls ( 6 MMBbls of developed and 3 MMBbls of undeveloped) at December 31, 2015 . 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 development at Horn Mountain, and 3 MMBOE in the Haynesville shale assets resulting from 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. 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. Excluding the impact of crude oil derivative contracts, 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, 2016 , FCX sold reserves in-place totaling 187 MMBOE, primarily representing all of its Deepwater GOM, onshore California and Haynesville properties. 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 were 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 were 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 and 2015 , 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, 2016 and 2015, follows: 2016 2015 Future cash inflows $ 345 $ 10,536 Future production expense (175 ) (4,768 ) Future development costs a (439 ) (4,130 ) Future income tax expense — — Future net cash flows (269 ) 1,638 Discounted at 10% per year 32 (246 ) Standardized Measure $ (237 ) $ 1,392 a. Includes estimated asset retirement costs of $0.4 billion at December 31, 2016 , and $1.9 billion at December 31, 2015 . A summary of the principal sources of changes in the Standardized Measure for the years ended December 31, 2016 and 2015, follows: 2016 2015 Balance at beginning of year $ 1,392 $ 6,421 Changes during the year: Sales, net of production expenses (831 ) (928 ) Net changes in sales and transfer prices, net of production expenses (341 ) (7,766 ) Extensions, discoveries and improved recoveries — 45 Changes in estimated future development costs, including timing and other 146 1,287 Previously estimated development costs incurred during the year 295 985 Sales of reserves in-place (1,049 ) — Revisions of quantity estimates 12 (1,170 ) Accretion of discount 139 797 Net change in income taxes — 1,721 Total changes (1,629 ) (5,029 ) Balance at end of year $ (237 ) $ 1,392

SCHEDULE II - VALUATION AND QUA

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Notes)	12 Months Ended
	Dec. 31, 2017
Valuation and Qualifying Accounts [Abstract]
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]	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, 2017 $ 6,058 $ (1,484 ) a $ 1 b $ — $ 4,575 Year Ended December 31, 2016 4,183 1,852 23 b — 6,058 Year Ended December 31, 2015 2,434 1,749 — — 4,183 Reserves for non-income taxes: Year Ended December 31, 2017 $ 64 $ (2 ) $ — $ (4 ) c $ 58 Year Ended December 31, 2016 83 13 (3 ) (29 ) c 64 Year Ended December 31, 2015 93 9 — (19 ) c 83 a. Relates to a $1.1 billion decrease associated with a reduction in the corporate income tax rate applicable to U.S. federal deferred tax assets and $371 million for the reversal of valuation allowances on U.S. federal alternative minimum tax credits. b. Relates to a valuation allowance for tax benefits primarily associated with actuarial losses for U.S. defined benefit plans included in other comprehensive loss. c. 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, 2017
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. As of December 31, 2017, 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) and Atlantic Copper, S.L.U. (Atlantic Copper). 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 FCX Oil & Gas LLC (FM O&G, formerly FCX Oil & Gas Inc.), in 2013. Subsequent to the acquisitions, FCX completed sales of its Africa mining operations and substantially all of its oil and gas operations. 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 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. FCX’s reportable segments include the Morenci, Cerro Verde and Grasberg (Indonesia mining) copper mines, the Rod & Refining operations and Atlantic Copper Smelting & Refining. 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 United States (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 minerals reserve estimation; 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, net, as are gains and losses from foreign currency transactions. Foreign currency (losses) gains totaled $(5) million in 2017 , $32 million in 2016 and $(90) million in 2015 .
Cash Equivalents	Cash Equivalents. Highly liquid investments purchased with maturities of three months or less are considered cash equivalents.
Inventories	Inventories. Inventories include materials and supplies, mill and leach stockpiles, and product inventories. 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 contain ore that has been extracted from an ore body and is 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 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 in the measurement of fair value. 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 were excluded from amortization until the properties were evaluated. Costs were transferred into the amortization base on an ongoing basis as the properties were evaluated and proved oil and natural gas reserves were established or if impairment was determined. Unproved oil and gas properties were assessed periodically, at least annually, to determine whether impairment had occurred. FCX assessed unproved oil and gas properties for impairment on an individual basis or as a group if properties were individually insignificant. The assessment considered 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 were assigned and other current market conditions. During any period in which these factors indicated an impairment, the cumulative drilling costs incurred to date for such property and all or a portion of the associated leasehold costs were transferred to the full cost pool and were 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 and $6.4 billion in 2015 . The transfer of costs into the amortization base involved a significant amount of judgment. Costs not subject to amortization consisted primarily of capitalized costs incurred for undeveloped acreage and wells in progress pending determination, together with capitalized interest for these projects. 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, 2017 or 2016. Interest costs totaling $7 million in 2016 and $58 million in 2015 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 and 2015, 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 and $13.1 billion in 2015, 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 $51.34 per barrel at December 31, 2017 , compared with $42.75 per barrel at December 31, 2016 , and $50.28 per barrel at December 31, 2015 .
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.
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. 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. In 2015, FCX 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, a subsidiary of FMC) metal sales are subject to certain royalties, which are recorded as a reduction to revenues. 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, 2017 .
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 FCX’s stock price and 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 net income (loss) per share of common stock under the two-class method and calculates its diluted net income (loss) per share of common stock using the more dilutive of the two-class method or the treasury-stock method. Basic net income (loss) per share of common stock was computed by dividing net income (loss) attributable to common stockholders (after deducting accumulated dividends and undistributed earnings to participating securities) by the weighted-average shares of common stock outstanding during the year. Diluted net income (loss) per share of common stock was calculated by including the basic weighted-average shares of common stock outstanding adjusted for the effects of all potential dilutive shares of common stock, unless their effect would be anti-dilutive. Reconciliations of net income (loss) and weighted-average shares of common stock outstanding for purposes of calculating basic and diluted net income (loss) per share for the years ended December 31 follow: 2017 2016 2015 Net income (loss) from continuing operations $ 2,029 $ (3,832 ) $ (12,180 ) Net income from continuing operations attributable to noncontrolling interests (274 ) (227 ) (27 ) Gain on redemption and preferred dividends attributable to redeemable noncontrolling interest — 161 (41 ) Accumulated dividends and undistributed earnings allocated to participating securities (4 ) (3 ) (3 ) Net income (loss) from continuing operations attributable to common stockholders $ 1,751 $ (3,901 ) $ (12,251 ) Net income (loss) from discontinued operations 66 (193 ) 91 Net income from discontinued operations attributable to noncontrolling interests (4 ) (63 ) (79 ) Net income (loss) from discontinued operations attributable to common stockholders $ 62 $ (256 ) $ 12 Net income (loss) attributable to common stockholders $ 1,813 $ (4,157 ) $ (12,239 ) Basic weighted-average shares of common stock outstanding (millions) 1,447 1,318 1,082 Add shares issuable upon exercise or vesting of dilutive stock options and RSUs (millions) 7 — a — a Diluted weighted-average shares of common stock outstanding (millions) 1,454 1,318 1,082 Basic and diluted net income (loss) per share attributable to common stockholders: Continuing operations $ 1.21 $ (2.96 ) $ (11.32 ) Discontinued operations 0.04 (0.20 ) 0.01 $ 1.25 $ (3.16 ) $ (11.31 ) a. Excludes approximately 12 million in 2016 and 9 million in 2015 associated with outstanding stock options with exercise prices less than the average market price of FCX’s common stock and RSUs that were anti-dilutive. Outstanding stock options with exercise prices greater than the average market price of FCX’s common stock during the year are excluded from the computation of diluted net income (loss) per share of common stock. Stock options for 41 million shares of common stock were excluded in 2017 , 46 million in 2016 and 45 million in 2015 .
New Accounting Standards	New Accounting Standards. In May 2014, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) that provides a single comprehensive revenue recognition model, which replaces 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. FCX adopted this ASU January 1, 2018, under the modified retrospective approach applied to contracts that remain in force at the adoption date. FCX’s revenue is primarily derived from arrangements in which the transfer of risks and rewards coincides with the fulfillment of performance obligations, and FCX has concluded that the adoption of this ASU does not result in changes to its existing revenue recognition policies or processes, and does not result in any financial statement impacts. FCX will begin making the required revenue recognition disclosures under the ASU beginning with its March 31, 2018, quarterly report on Form 10-Q. 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. FCX adopted this ASU effective January 1, 2018, and adoption did not 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 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. In November 2016, FASB issued an ASU that amends the classification and presentation of restricted cash and restricted cash equivalents on the statement of cash flows. The amendments require that a statement of cash flows explain the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. For public entities, this ASU is effective for interim and annual reporting periods beginning after December 15, 2017. FCX adopted this ASU effective January 1, 2018, and the statements of cash flows will be adjusted for all periods presented beginning with its March 31, 2018, quarterly report on Form 10-Q. The adoption of this ASU did not have a material impact on FCX’s financial statements. In March 2017, FASB issued an ASU that changes how entities with a defined benefit pension or other postretirement benefit plans present net periodic benefit cost in the income statement. This ASU requires the service cost component of net periodic benefit cost to be presented in the same income statement line item or items as other compensation costs for those employees who are receiving the retirement benefit. In addition, only the service cost component is eligible for capitalization when applicable ( i.e. , as a cost of inventory or an internally constructed asset). The other components of net periodic benefit cost are required to be presented separately from the service cost component and outside of operating income. These other components of net periodic benefit cost are not eligible for capitalization, and the income statement line item or items must be disclosed. For public entities, this ASU is effective for interim and annual reporting periods beginning after December 15, 2017. FCX adopted this ASU effective January 1, 2018, and its statements of operations will be adjusted for all periods presented beginning with its March 31, 2018, quarterly report on Form 10-Q. The adoption of this ASU did not have a material impact on FCX’s financial statements.

SUMMARY OF SIGNIFICANT ACCOUN31

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Schedule of diluted earnings per share	Reconciliations of net income (loss) and weighted-average shares of common stock outstanding for purposes of calculating basic and diluted net income (loss) per share for the years ended December 31 follow: 2017 2016 2015 Net income (loss) from continuing operations $ 2,029 $ (3,832 ) $ (12,180 ) Net income from continuing operations attributable to noncontrolling interests (274 ) (227 ) (27 ) Gain on redemption and preferred dividends attributable to redeemable noncontrolling interest — 161 (41 ) Accumulated dividends and undistributed earnings allocated to participating securities (4 ) (3 ) (3 ) Net income (loss) from continuing operations attributable to common stockholders $ 1,751 $ (3,901 ) $ (12,251 ) Net income (loss) from discontinued operations 66 (193 ) 91 Net income from discontinued operations attributable to noncontrolling interests (4 ) (63 ) (79 ) Net income (loss) from discontinued operations attributable to common stockholders $ 62 $ (256 ) $ 12 Net income (loss) attributable to common stockholders $ 1,813 $ (4,157 ) $ (12,239 ) Basic weighted-average shares of common stock outstanding (millions) 1,447 1,318 1,082 Add shares issuable upon exercise or vesting of dilutive stock options and RSUs (millions) 7 — a — a Diluted weighted-average shares of common stock outstanding (millions) 1,454 1,318 1,082 Basic and diluted net income (loss) per share attributable to common stockholders: Continuing operations $ 1.21 $ (2.96 ) $ (11.32 ) Discontinued operations 0.04 (0.20 ) 0.01 $ 1.25 $ (3.16 ) $ (11.31 ) a. Excludes approximately 12 million in 2016 and 9 million in 2015 associated with outstanding stock options with exercise prices less than the average market price of FCX’s common stock and RSUs that were anti-dilutive.

DISPOSITIONS AND ACQUISITIONS (

DISPOSITIONS AND ACQUISITIONS (Tables)	12 Months Ended
	Dec. 31, 2017
Dispositions And Acquisitions [Abstract]
Schedule of Disposal	Net income (loss) from discontinued operations in the consolidated statements of operations consists of the following: Years Ended December 31, 2017 2016 2015 Revenues a $ 13 $ 959 $ 1,270 Costs and expenses: Production and delivery costs — 833 852 Depreciation, depletion and amortization — 80 b 257 Interest expense allocated from parent c — 39 28 Other costs and expenses, net — 10 26 Income (loss) before income taxes and net gain (loss) on disposal 13 (3 ) 107 Net gain (loss) on disposal 57 d (198 ) e — Net income (loss) before income taxes 70 (201 ) 107 (Provision for) benefit from income taxes (4 ) 8 (16 ) Net income (loss) from discontinued operations $ 66 $ (193 ) $ 91 a. In accordance with accounting guidance, amounts are net of recognition (eliminations) of intercompany sales totaling $13 million in 2017 , $(157) million in 2016 and $(114) million in 2015 . b. In accordance with accounting guidance, depreciation, depletion and amortization was 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 gain of $61 million associated with the change in the fair value of contingent consideration. e. 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 Net cash provided by operating activities $ 241 $ 217 Net cash used in investing activities (73 ) (253 ) Net cash used in financing activities (123 ) (82 ) Increase (decrease) in cash and cash equivalents $ 45 $ (118 )

INVENTORIES, INCLUDING LONG-T33

INVENTORIES, INCLUDING LONG-TERM MILL AND LEACH STOCKPILES (Tables)	12 Months Ended
	Dec. 31, 2017
Inventory Disclosure [Abstract]
Schedule of Inventory, Noncurrent	The components of inventories follow: December 31, 2017 2016 Current inventories: Total materials and supplies, net a $ 1,305 $ 1,306 Mill stockpiles $ 360 $ 259 Leach stockpiles 1,062 1,079 Total current mill and leach stockpiles $ 1,422 $ 1,338 Raw materials (primarily concentrate) $ 265 $ 255 Work-in-process 154 114 Finished goods 747 629 Total product inventories $ 1,166 $ 998 Long-term inventories: Mill stockpiles $ 300 $ 487 Leach stockpiles 1,109 1,146 Total long-term inventories b $ 1,409 $ 1,633 a. Materials and supplies inventory was net of obsolescence reserves totaling $29 million at December 31, 2017 and 2016 . 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, 2017 2016 Current inventories: Total materials and supplies, net a $ 1,305 $ 1,306 Mill stockpiles $ 360 $ 259 Leach stockpiles 1,062 1,079 Total current mill and leach stockpiles $ 1,422 $ 1,338 Raw materials (primarily concentrate) $ 265 $ 255 Work-in-process 154 114 Finished goods 747 629 Total product inventories $ 1,166 $ 998 Long-term inventories: Mill stockpiles $ 300 $ 487 Leach stockpiles 1,109 1,146 Total long-term inventories b $ 1,409 $ 1,633 a. Materials and supplies inventory was net of obsolescence reserves totaling $29 million at December 31, 2017 and 2016 . 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, 2017
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, 2017 2016 Proven and probable mineral reserves $ 3,974 $ 3,863 VBPP 447 559 Mine development and other 6,212 5,755 Buildings and infrastructure 7,520 7,479 Machinery and equipment 12,201 11,744 Mobile equipment 3,764 3,725 Construction in progress 2,964 2,831 Property, plant, equipment and mine development costs 37,082 35,956 Accumulated depreciation, depletion and amortization (14,246 ) (12,737 ) Property, plant, equipment and mine development costs, net $ 22,836 $ 23,219

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	12 Months Ended
	Dec. 31, 2017
Other Assets [Abstract]
Schedule of Other Assets	The components of other assets follow: December 31, 2017 2016 Disputed tax assessments: a PT-FI $ 417 $ 331 Cerro Verde 185 277 Long-term receivable for taxes b 445 129 Intangible assets c 306 305 Investments: Assurance bond d 123 120 PT Smelting e 61 83 Available-for-sale securities 30 50 Other 48 50 Contingent consideration associated with sales of assets f 234 196 Legally restricted funds g 189 182 Rio Tinto’s share of ARO 68 71 Long-term employee receivables 20 32 Other 144 130 Total other assets $ 2,270 $ 1,956 a. Refer to Note 12 for further discussion. b. Includes tax overpayments and refunds not expected to be realized within the next 12 months (primarily in the U.S. associated with U.S. tax reform, refer to Note 11). c. Indefinite-lived intangible assets totaled $215 million at December 31, 2017 , and $217 million at December 31, 2016 . Definite-lived intangible assets were net of accumulated amortization totaling $46 million at December 31, 2017 , and $37 million at December 31, 2016 . d. Relates to PT-FI’s commitment for smelter development in Indonesia (refer to Note 13 for further discussion). e. PT-FI’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 $68 million at December 31, 2017 , and $39 million at December 31, 2016 . Trade accounts receivable from PT Smelting totaled $308 million at December 31, 2017 , and $283 million at December 31, 2016 . f. Refer to Note 2 for further discussion. g. Includes $180 million at December 31, 2017 , and $173 million at December 31, 2016 , held in trusts for AROs related to properties in New Mexico (refer to Note 12 for further discussion).

ACCOUNTS PAYABLE AND ACCRUED 36

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2017
Accounts Payable and Accrued Liabilities, Current [Abstract]
Additional information regarding accounts payable and accrued liabilities	The components of accounts payable and accrued liabilities follow: December 31, 2017 2016 Accounts payable $ 1,380 $ 1,540 Salaries, wages and other compensation 235 225 Accrued interest a 168 129 Accrued taxes, other than income taxes 129 90 Pension, postretirement, postemployment and other employee benefits b 111 76 Deferred revenue 91 82 Accrued mining royalties 68 46 Other 139 205 Total accounts payable and accrued liabilities $ 2,321 $ 2,393 a. Third-party interest paid, net of capitalized interest, was $565 million in 2017 , $743 million in 2016 and $570 million in 2015 . b. Refer to Note 9 for long-term portion.

DEBT (Tables)

DEBT (Tables)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Debt Disclosure [Abstract]
Schedule of Debt Components	The components of debt follow: December 31, 2017 2016 Revolving credit facility $ — $ — Cerro Verde credit facility 1,269 1,390 Cerro Verde shareholder loans — 261 Senior notes and debentures: Issued by FCX: 2.15% Senior Notes due 2017 — 500 2.30% Senior Notes due 2017 — 728 2.375% Senior Notes due 2018 1,408 1,480 6.125% Senior Notes due 2019 — 186 3.100% Senior Notes due 2020 997 996 6½% Senior Notes due 2020 — 583 6.625% Senior Notes due 2021 — 242 4.00% Senior Notes due 2021 596 595 6.75% Senior Notes due 2022 427 432 3.55% Senior Notes due 2022 1,884 1,882 6 7 / 8 % Senior Notes due 2023 776 784 3.875% Senior Notes due 2023 1,914 1,912 4.55% Senior Notes due 2024 845 844 5.40% Senior Notes due 2034 740 739 5.450% Senior Notes due 2043 1,842 1,842 Issued by FMC: 7 1 / 8 % Debentures due 2027 115 115 9½% Senior Notes due 2031 127 128 6 1 / 8 % Senior Notes due 2034 116 116 Issued by Freeport-McMoRan Oil & Gas LLC (FM O&G LLC): 6.125% Senior Notes due 2019 — 60 6½% Senior Notes due 2020 — 69 6.625% Senior Notes due 2021 — 35 6.75% Senior Notes due 2022 — 48 6 7 / 8 % Senior Notes due 2023 54 55 Other 7 5 Total debt 13,117 16,027 Less current portion of debt (1,414 ) (1,232 ) Long-term debt $ 11,703 $ 14,795
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 Net Adjustments Book Value Redemption Value Gain 2.375% Senior Notes due 2018 $ 74 $ — $ 74 $ 74 $ — FCX 6.125% Senior Notes due 2019 179 5 184 182 2 FM O&G LLC 6.125% Senior Notes due 2019 58 2 60 59 1 FCX 6½% Senior Notes due 2020 552 23 575 562 13 FM O&G LLC 6½% Senior Notes due 2020 65 3 68 66 2 FCX 6.625% Senior Notes due 2021 228 12 240 234 6 FM O&G 6.625% Senior Notes due 2021 33 2 35 34 1 FM O&G 6.750% Senior Notes due 2022 45 2 47 46 1 $ 1,234 $ 49 $ 1,283 $ 1,257 $ 26	A summary of these transactions follows: Principal Amount Net Adjustments 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
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

OTHER LIABILITIES, INCLUDING 38

OTHER LIABILITIES, INCLUDING EMPLOYEE BENEFITS (Tables)	12 Months Ended
	Dec. 31, 2017
Other Liabilities, Including Employee Benefits [Abstract]
Components of Other Liabilities	The components of other liabilities follow: December 31, 2017 2016 Pension, postretirement, postemployment and other employment benefits a $ 1,154 $ 1,345 Cerro Verde royalty dispute 368 — Provision for tax positions 291 167 Legal matters 81 77 Insurance claim reserves 47 51 Accrued oil and gas contract commitments — 43 Other 71 62 Total other liabilities $ 2,012 $ 1,745 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, 2017 2016 Projected benefit obligation $ 2,287 $ 2,127 Accumulated benefit obligation 2,163 2,014 Fair value of plan assets 1,521 1,312
Schedule of Changes Benefit Obligation, Fair Value of Plan Assets, and Funded Status of Plan	Information on the FCX (FMC and SERP plans) and PT-FI plans as of December 31 follows: FCX PT-FI 2017 2016 2017 2016 Change in benefit obligation: Benefit obligation at beginning of year $ 2,135 $ 2,104 $ 374 $ 318 Service cost 44 27 20 27 Interest cost 91 93 23 29 Actuarial losses (gains) 188 92 (61 ) 2 Foreign exchange losses (gains) 3 (4 ) (2 ) 8 Curtailment a — — (62 ) — Benefits and administrative expenses paid (118 ) (177 ) (52 ) (10 ) Benefit obligation at end of year 2,343 2,135 240 374 Change in plan assets: Fair value of plan assets at beginning of year 1,329 1,379 284 204 Actual return on plan assets 230 88 11 47 Employer contributions b 145 42 28 38 Foreign exchange gains (losses) 2 (3 ) (2 ) 5 Benefits and administrative expenses paid (118 ) (177 ) (52 ) (10 ) Fair value of plan assets at end of year 1,588 1,329 269 284 Funded status $ (755 ) $ (806 ) $ 29 $ (90 ) Accumulated benefit obligation $ 2,218 $ 2,022 $ 194 $ 225 Weighted-average assumptions used to determine benefit obligations: Discount rate 3.70 % 4.40 % 6.75 % 8.25 % Rate of compensation increase 3.25 % 3.25 % 4.00 % 8.00 % Balance sheet classification of funded status: Other assets $ 11 $ 9 $ 29 $ — Accounts payable and accrued liabilities (4 ) (4 ) — — Other liabilities (762 ) (811 ) — (90 ) Total $ (755 ) $ (806 ) $ 29 $ (90 ) a. Resulted from the 2017 PT-FI reductions in workforce (refer to Restructuring Charges in this note for further discussion). b. Employer contributions for 2018 are expected to approximate $75 million for the FCX plans and $17 million for the PT-FI plan (based on a December 31, 2017 , exchange rate of 13,480 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: 2017 2016 2015 Weighted-average assumptions: a Discount rate 4.40 % 4.60 % 4.10 % Expected return on plan assets 7.00 % 7.25 % 7.25 % Rate of compensation increase 3.25 % 3.25 % 3.25 % Service cost $ 44 $ 27 $ 36 Interest cost 91 93 87 Expected return on plan assets (93 ) (96 ) (102 ) Amortization of net actuarial losses 49 42 45 Special retirement benefits b — — 22 Net periodic benefit cost $ 91 $ 66 $ 88 a. The assumptions shown relate only to the FMC plans. b. Resulted from FMC’s 2015 revised mine operating plans and reductions in the workforce (refer to Note 5 for further discussion). 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: 2017 2016 2015 Weighted-average assumptions: Discount rate 8.25 % 9.00 % 8.25 % Expected return on plan assets 7.75 % 7.75 % 7.75 % Rate of compensation increase 8.00 % 9.40 % 9.00 % Service cost $ 20 $ 27 $ 26 Interest cost 23 29 23 Expected return on plan assets (21 ) (17 ) (14 ) Amortization of prior service cost 2 3 3 Amortization of net actuarial loss — 5 6 Curtailment loss 4 — — Net periodic benefit cost $ 28 $ 47 $ 44
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: 2017 2016 Before Taxes After Taxes and Noncontrolling Interests Before Taxes After Taxes and Noncontrolling Interests Net actuarial loss $ 620 $ 412 $ 722 $ 466 Prior service costs 10 6 21 11 $ 630 $ 418 $ 743 $ 477
Schedule of Allocation of Plan Assets	A summary of the fair value for pension plan assets, including those measured at net asset value (NAV) as a practical expedient, associated with the FCX plans follows: Fair Value at December 31, 2017 Total NAV Level 1 Level 2 Level 3 Commingled/collective funds: Global equity $ 404 $ 404 $ — $ — $ — Fixed income securities 154 154 — — — Global fixed income securities 115 115 — — — Emerging markets equity 87 87 — — — International small-cap equity 72 72 — — — U.S. small-cap equity 67 67 — — — Real estate property 50 50 — — — U.S. real estate securities 45 45 — — — Short-term investments 12 12 — — — Fixed income: Government bonds 208 — — 208 — Corporate bonds 168 — — 168 — Global large-cap equity securities 119 — 119 — — Private equity investments 20 20 — — — Other investments 62 — 19 43 — Total investments 1,583 $ 1,026 $ 138 $ 419 $ — Cash and receivables 21 Payables (16 ) Total pension plan net assets $ 1,588 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 A summary of the fair value hierarchy for pension plan assets associated with the PT-FI plan follows: Fair Value at December 31, 2017 Total Level 1 Level 2 Level 3 Government bonds $ 81 $ 81 $ — $ — Common stocks 78 78 — — Mutual funds 16 16 — — Total investments 175 $ 175 $ — $ — Cash and receivables a 94 Total pension plan net assets $ 269 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 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 2018 $ 111 $ 48 2019 151 8 2020 116 15 2021 118 20 2022 120 23 2023 through 2027 635 166 a. Based on a December 31, 2017 , exchange rate of 13,480 Indonesian rupiah to one U.S. dollar.

STOCKHOLDERS' EQUITY AND STOC39

STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2017
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, 2015 $ (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 ) Amounts arising during the period a,b 7 1 — 8 Amounts reclassified c 53 — — 53 Balance at December 31, 2017 $ (494 ) $ (3 ) $ 10 $ (487 ) a. Includes net actuarial (losses) gains, net of noncontrolling interest, totaling $(7) million for 2015 , $(79) million for 2016 and $52 million for 2017 . b. Includes tax benefits (provision) totaling $2 million for 2015 , $(11) million for 2016 and $(45) million for 2017 . c. Includes amortization primarily related to actuarial losses, net of taxes of $16 million for 2015 , $4 million for 2016 and $5 million for 2017 .
Compensation costs charged against earnings	Compensation cost charged against earnings for stock-based awards for the years ended December 31 follows: 2017 2016 2015 Selling, general and administrative expenses $ 55 $ 69 $ 67 Production and delivery 16 16 17 Capitalized costs — 4 11 Total stock-based compensation 71 89 95 Less capitalized costs — (4 ) (11 ) Tax benefit and noncontrolling interests’ share (4 ) a (3 ) a (31 ) Impact on net income (loss) from continuing operations $ 67 $ 82 $ 53 a. Charges in the U.S. are not 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, 2017 , including 716,469 SARs, and activity during the year ended December 31, 2017 , 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 53,794,235 $ 30.25 Granted 3,861,000 15.52 Exercised (647,941 ) 7.64 Expired/Forfeited (8,992,606 ) 34.24 Balance at December 31 48,014,688 28.63 4.8 $ 129 Vested and exercisable at December 31 39,725,053 32.26 4.0 $ 62
Weighted average assumptions used to value stock option awards	Information related to stock options during the years ended December 31 follows: 2017 2016 2015 Weighted-average assumptions used to value stock option awards: Expected volatility 51.4 % 71.6 % 37.9 % Expected life of options (in years) 5.70 5.34 5.17 Expected dividend rate — — 4.5 % Risk-free interest rate 2.0 % 1.3 % 1.7 % Weighted-average grant-date fair value (per share) $ 7.61 $ 2.64 $ 4.30 Intrinsic value of options exercised $ 5 $ — a $ 1 Fair value of options vested $ 25 $ 43 $ 50 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, 2017 , and activity during the year ended December 31, 2017 , follows: Number of Awards Weighted-Average Grant-Date Fair Value Per Award Aggregate Intrinsic Value Balance at January 1 7,218,227 $ 18.08 Granted 2,062,067 a 15.37 Vested (3,175,437 ) 15.45 Forfeited (554,233 ) 11.23 Balance at December 31 5,550,624 19.27 $ 105 a. Excludes 374 thousand PSUs related to 2017 grants and 497 thousand PSUs related to 2016 grants 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, 2017 , and activity during the year ended December 31, 2017 , follows: Number of Awards Weighted-Average Grant-Date Fair Value Per Award Aggregate Intrinsic Value Balance at January 1 2,531,744 $ 19.30 Granted 622,907 15.26 Vested (1,796,288 ) 22.43 Forfeited (51,128 ) 12.96 Balance at December 31 1,307,235 13.32 $ 25
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 : 2017 2016 2015 FCX shares tendered to pay the exercise price and/or the minimum required taxes a 1,041,937 906,120 349,122 Cash received from stock option exercises $ 5 $ — b $ 3 Actual tax benefit realized for tax deductions $ 1 $ — b $ 11 Amounts FCX paid for employee taxes $ 15 $ 6 $ 7 a. Under terms of the related plans, upon exercise of stock options and vesting of stock-settled 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, 2017
Income Tax Disclosure [Abstract]
Income before income taxes and equity in affiliated companies' net earnings	Geographic sources of income (losses) before income taxes and equity in affiliated companies’ net earnings (losses) for the years ended December 31 consist of the following: 2017 2016 2015 U.S. $ 20 $ (5,179 ) $ (14,589 ) Foreign 2,882 a 1,707 461 Total $ 2,902 $ (3,472 ) $ (14,128 ) a. As a result of the unfavorable Peruvian Supreme Court ruling on the Cerro Verde royalty dispute, FCX incurred pre-tax charges of $348 million to income from continuing operations and $7 million of net tax expense for the year 2017.
Schedule of Benefit from (Provision for) income taxes	FCX’s (provision for) benefit from income taxes for the years ended December 31 consist of the following: 2017 2016 2015 Current income taxes: Federal $ (3 ) $ 164 $ 89 State (10 ) 17 2 Foreign (1,426 ) (352 ) (160 ) Total current (1,439 ) (171 ) (69 ) Deferred income taxes: Federal 64 137 3,403 State 10 41 154 Foreign 89 (451 ) (163 ) Total deferred 163 (273 ) 3,394 Adjustments 393 a 13 b (1,374 ) c Operating loss carryforwards — 60 — (Provision for) benefit from income taxes $ (883 ) $ (371 ) $ 1,951 a. Reflects provisional tax credits associated with the Tax Cuts and Jobs Act (the Act), including reversal of valuation allowances associated with anticipated refunds of alternative minimum tax (AMT) credits ( $272 million , net of reserves) and a decrease in corporate income tax rates ( $121 million ). Refer to “Tax Reform” below for further discussion. b. Benefit related to changes in Peruvian tax rules. c. 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.
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: 2017 2016 2015 Amount Percent Amount Percent Amount Percent U.S. federal statutory tax rate $ (1,016 ) (35 )% $ 1,215 (35 )% $ 4,945 (35 )% Valuation allowance, net 28 a 1 (1,680 ) b 48 (2,955 ) b 21 Foreign tax credit limitation (159 ) (5 ) (598 ) 17 (228 ) 2 Tax reform 393 14 — — — — Mining royalty dispute (129 ) (5 ) — — — — Impairment of oil and gas properties — — 520 c (15 ) — — Percentage depletion 227 8 211 (6 ) 186 (1 ) Withholding and other impacts on foreign earnings (216 ) (7 ) (93 ) 3 (193 ) 1 Effect of foreign rates different than the U.S. federal statutory rate 17 1 45 (1 ) 12 — State income taxes (5 ) (1 ) 46 b (1 ) 105 b (1 ) Other items, net (23 ) (1 ) (37 ) 1 79 (1 ) (Provision for) benefit from income taxes $ (883 ) d (30 )% $ (371 ) e 11 % $ 1,951 (14 )% a. Refer to “Valuation Allowance” below for further discussion of current year changes. b. 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. c. Reflects a loss under U.S. federal income tax law related to the impairment of investments in oil and gas properties. d. Includes net charges of $7 million associated with the Cerro Verde mining royalties dispute, consisting of tax charges of $136 million for disputed royalties and other related mining taxes for the period October 2011 through the year 2013 (when royalties were determined based on operating income), mostly offset by a tax benefit of $129 million associated with disputed royalties and other related mining taxes for the period December 2006 through the year 2013. Refer to Note 12 for further discussion. e. Includes a net tax benefit related to changes in Peruvian tax rules of $13 million .
Components of deferred tax assets and liabilities	The components of deferred taxes follow: December 31, 2017 2016 Deferred tax assets: Foreign tax credits $ 2,129 $ 2,094 Accrued expenses 789 923 Oil and gas properties 236 346 AMT credits — 444 Net operating losses 2,043 2,898 Employee benefit plans 248 403 Other 259 485 Deferred tax assets 5,704 7,593 Valuation allowances (4,575 ) (6,058 ) Net deferred tax assets 1,129 1,535 Deferred tax liabilities: Property, plant, equipment and mine development costs (3,710 ) (4,326 ) Undistributed earnings (811 ) (779 ) Other (226 ) (195 ) Total deferred tax liabilities (4,747 ) (5,300 ) Net deferred tax liabilities $ (3,618 ) $ (3,765 )
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: 2017 2016 2015 Balance at beginning of year $ 101 $ 110 $ 104 Additions: Prior year tax positions 302 5 7 Current year tax positions 6 28 11 Decreases: Prior year tax positions (1 ) (3 ) (6 ) Settlements with taxing authorities (17 ) — — Lapse of statute of limitations (1 ) (39 ) (6 ) Balance at end of year $ 390 $ 101 $ 110
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 N/A 2014-2017 Indonesia 2008, 2011-2016 2017 Peru 2012 2013-2017 Chile 2015-2016 2017 Excluding surface water and withholding tax assessments discussed below and the Indonesian government’s imposition of a 7.5 percent export duty (refer to Note 13), a summary of these assessments follows: Tax Year Tax Assessment Interest Assessment Total 2005 $ 77 $ 37 $ 114 2007 48 24 72 2008, 2010 to 2011 56 37 93 2012 125 1 126 2013 160 80 240 2014 160 7 167 2015 169 — 169 $ 795 $ 186 $ 981 A summary of these assessments follows: Tax Year Tax Assessment Penalty and Interest Assessment Total 2003 to 2005 $ 16 $ 54 $ 70 2006 7 59 66 2007 to 2008 33 31 64 2009 59 49 108 2010 66 107 173 2011, 2014 to 2017 72 64 136 $ 253 $ 364 $ 617

CONTINGENCIES (Tables)

CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Schedule of Environmental Obligations	A summary of changes in estimated environmental obligations for the years ended December 31 follows: 2017 2016 2015 Balance at beginning of year $ 1,221 $ 1,215 $ 1,174 Accretion expense a 84 81 78 Additions 241 26 33 Reductions b (43 ) (43 ) (3 ) Spending (64 ) (58 ) (67 ) Balance at end of year 1,439 1,221 1,215 Less current portion (134 ) (129 ) (100 ) Long-term portion $ 1,305 $ 1,092 $ 1,115 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.
Schedule of Asset Retirement Obligations	A summary of changes in FCX’s AROs for the years ended December 31 follows: 2017 2016 2015 Balance at beginning of year $ 2,635 $ 2,771 $ 2,744 Liabilities incurred 14 12 97 Settlements and revisions to cash flow estimates, net (112 ) 529 a (69 ) Accretion expense 124 137 131 Dispositions (10 ) (626 ) b — Spending (71 ) (188 ) (132 ) Balance at end of year 2,580 2,635 2,771 Less current portion (254 ) (240 ) (172 ) Long-term portion $ 2,326 $ 2,395 $ 2,599 a. Revisions to cash flow estimates were primarily related to revised estimates for an overburden stockpile in Indonesia and at certain oil and gas properties. b. Primarily reflects the sale of certain oil and gas properties.
Schedule of Charges for the Cerro Verde Royalty Dispute	A summary of the charges recorded in 2017 for the Cerro Verde royalty dispute follows (in millions): Royalty and related assessment charges: Production and delivery $ 203 a Interest expense, net 145 Provision for income taxes 7 b Net loss attributable to noncontrolling interests (169 ) $ 186 a. Includes $175 million related to disputed royalty assessments for the period from December 2006 to September 2011 (when royalties were determined based on revenues), $6 million of penalties related to the December 2006 to December 2008 royalty assessments and $22 million of related charges primarily associated with the net assets tax. b. Includes tax charges of $136 million for disputed royalties ( $69 million ) and other related mining taxes ( $67 million ) for the period October 2011 through the year 2013 when royalties were determined based on operating income, mostly offset by a tax benefit of $129 million associated with disputed royalties and other related mining taxes for the period December 2006 through December 2013.
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 N/A 2014-2017 Indonesia 2008, 2011-2016 2017 Peru 2012 2013-2017 Chile 2015-2016 2017 Excluding surface water and withholding tax assessments discussed below and the Indonesian government’s imposition of a 7.5 percent export duty (refer to Note 13), a summary of these assessments follows: Tax Year Tax Assessment Interest Assessment Total 2005 $ 77 $ 37 $ 114 2007 48 24 72 2008, 2010 to 2011 56 37 93 2012 125 1 126 2013 160 80 240 2014 160 7 167 2015 169 — 169 $ 795 $ 186 $ 981 A summary of these assessments follows: Tax Year Tax Assessment Penalty and Interest Assessment Total 2003 to 2005 $ 16 $ 54 $ 70 2006 7 59 66 2007 to 2008 33 31 64 2009 59 49 108 2010 66 107 173 2011, 2014 to 2017 72 64 136 $ 253 $ 364 $ 617

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2017
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: 2017 2016 2015 Copper futures and swap contracts: Unrealized gains (losses): Derivative financial instruments $ 4 $ 16 $ (3 ) Hedged item – firm sales commitments (4 ) (16 ) 3 Realized gains (losses): Matured derivative financial instruments 30 1 (34 )
Schedule of Derivative Instruments	A summary of FCX’s embedded derivatives at December 31, 2017 , follows: Open Average Price Per Unit Maturities Positions Contract Market Through Embedded derivatives in provisional sales contracts: Copper (millions of pounds) 642 $ 3.06 $ 3.28 May 2018 Gold (thousands of ounces) 318 1,269 1,300 March 2018 Embedded derivatives in provisional purchase contracts: Copper (millions of pounds) 120 3.02 3.28 April 2018 Cobalt (millions of pounds) a 6 22.97 26.81 March 2018 a. Relates to assets held for sale.
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 income (loss) for commodity contracts that do not qualify as hedge transactions, including embedded derivatives, for the years ended December 31 follows: 2017 2016 2015 Embedded derivatives in provisional copper and gold sales contracts a $ 515 $ 266 $ (406 ) Crude oil options and swaps a — (35 ) 87 Copper forward contracts b (15 ) 5 (15 ) 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, 2017 2016 Commodity Derivative Assets: Derivatives designated as hedging instruments: Copper futures and swap contracts $ 11 $ 9 Derivatives not designated as hedging instruments: Embedded derivatives in provisional copper and gold sales/purchase contracts 155 137 Copper forward contracts 1 — Total derivative assets $ 167 $ 146 Commodity Derivative Liabilities: Derivatives designated as hedging instruments: Copper futures and swap contracts $ — $ 2 Derivatives not designated as hedging instruments: Embedded derivatives in provisional copper and gold sales/purchase contracts 31 56 Copper forward contracts 2 — Total derivative liabilities $ 33 $ 58
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, 2017 2016 2017 2016 Gross amounts recognized: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts $ 155 $ 137 $ 31 $ 56 Copper derivatives 12 9 2 2 167 146 33 58 Less gross amounts of offset: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts — 12 — 12 Copper derivatives 1 2 1 2 1 14 1 14 Net amounts presented in balance sheet: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts 155 125 31 44 Copper derivatives 11 7 1 — $ 166 $ 132 $ 32 $ 44 Balance sheet classification: Trade accounts receivable $ 151 $ 119 $ — $ 13 Other current assets 11 7 — — Accounts payable and accrued liabilities 4 6 32 31 $ 166 $ 132 $ 32 $ 44
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, 2017 2016 2017 2016 Gross amounts recognized: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts $ 155 $ 137 $ 31 $ 56 Copper derivatives 12 9 2 2 167 146 33 58 Less gross amounts of offset: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts — 12 — 12 Copper derivatives 1 2 1 2 1 14 1 14 Net amounts presented in balance sheet: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts 155 125 31 44 Copper derivatives 11 7 1 — $ 166 $ 132 $ 32 $ 44 Balance sheet classification: Trade accounts receivable $ 151 $ 119 $ — $ 13 Other current assets 11 7 — — Accounts payable and accrued liabilities 4 6 32 31 $ 166 $ 132 $ 32 $ 44

FAIR VALUE MEASUREMENT (Tables)

FAIR VALUE MEASUREMENT (Tables)	12 Months Ended
	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurement Inputs Disclosure	A summary of the carrying amount and fair value of FCX’s financial instruments (including those measured at NAV as a practical expedient), other than cash and cash equivalents, accounts receivable, restricted cash, and accounts payable and accrued liabilities (refer to Note 14) follows: At December 31, 2017 Carrying Fair Value Amount Total NAV Level 1 Level 2 Level 3 Assets Investment securities: a,b U.S. core fixed income fund $ 25 $ 25 $ 25 $ — $ — $ — Equity securities 5 5 — 5 — — Total 30 30 25 5 — — Legally restricted funds: a U.S. core fixed income fund 55 55 55 — — — Government bonds and notes 40 40 — — 40 — Corporate bonds 32 32 — — 32 — Government mortgage-backed securities 27 27 — — 27 — Asset-backed securities 15 15 — — 15 — Money market funds 11 11 — 11 — — Collateralized mortgage-backed securities 8 8 — — 8 — Municipal bonds 1 1 — — 1 — Total 189 189 55 11 123 — Derivatives: Embedded derivatives in provisional sales/purchase contracts in a gross asset position c 155 155 — — 155 — Copper futures and swap contracts c 11 11 — 9 2 — Copper forward contracts c 1 1 — — 1 — — Contingent consideration for the sales of TFHL and onshore California oil and gas properties a 108 108 — — 108 — Total 275 275 — 9 266 — Contingent consideration for the sale of the Deepwater GOM oil and gas properties a 150 134 — — — 134 Liabilities Derivatives: c Embedded derivatives in provisional sales/purchase contracts in a gross liability position d $ 31 $ 31 $ — $ — $ 31 $ — Copper forward contracts 2 2 — 1 1 — Total 33 33 — 1 32 — Long-term debt, including current portion e 13,117 13,269 — — 13,269 — 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 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 f 23 23 — — 23 — Long-term debt, including current portion e 16,027 15,196 — — 15,196 — 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 $52 million at December 31, 2017 , and $28 million at December 31, 2016 , and (ii) other assets of $123 million at December 31, 2017 , and $122 million at December 31, 2016 , 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. Excludes $24 million of embedded derivatives in provisional cobalt purchase contracts (refer to Note 14 for further discussion). e. Recorded at cost except for debt assumed in acquisitions, which are recorded at fair value at the respective acquisition dates. In addition, debt excludes $112 million at December 31, 2017, and $98 million at December 31, 2016, related to assets held for sale (which approximated fair value). f. Included in accounts payable and accrued liabilities.
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 a Crude Oil Options 2017 2016 2015 Balance at beginning of year $ 135 $ — $ 316 Net realized gains — — 86 b Net unrealized (losses) gains related to assets still held at the end of the year (1 ) 135 — Net settlements — — (402 ) c Balance at the end of the year $ 134 $ 135 $ — a. Reflects contingent consideration associated with the sale of the Deepwater GOM oil and gas properties in December 2016 (refer to Note 2 for further discussion). b. Includes net realized gains of $87 million recorded in revenues and interest expense associated with deferred premiums of $1 million . c. Includes interest payments of $4 million .

BUSINESS SEGMENTS INFORMATION (

BUSINESS SEGMENTS INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2017
Segment Reporting [Abstract]
Revenues by product	FCX revenues attributable to the products it produced for the years ended December 31 follow: 2017 2016 2015 Copper in concentrate a $ 5,373 $ 4,502 $ 2,927 Copper cathode 4,557 3,925 4,159 Rod, and other refined copper products 2,272 1,963 2,481 Gold 2,032 1,512 1,540 Molybdenum 889 651 783 Oil 73 1,304 1,694 Other 1,207 973 1,023 Total $ 16,403 $ 14,830 $ 14,607 a. Amounts are net of treatment and refining charges totaling $536 million in 2017 , $652 million in 2016 and $485 million in 2015 .
Long-lived assets by geographic area	Information concerning financial data by geographic area follows: December 31, 2017 2016 2015 Long-lived assets: a Indonesia $ 8,938 $ 8,794 $ 7,701 U.S. 8,312 8,282 b 16,569 Peru 7,485 7,981 8,432 Chile 1,221 1,269 1,387 Other 257 248 4,706 c Total $ 26,213 $ 26,574 $ 38,795 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 (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, primarily associated with TFHL discontinued operations. Refer to Note 2 for further discussion.
Revenues by geographic area of customer	Years Ended December 31, 2017 2016 2015 Revenues: a U.S. $ 5,344 $ 5,896 $ 6,842 Indonesia 2,023 1,402 1,054 Japan 1,882 1,350 1,246 Switzerland 1,200 1,147 618 China 1,136 1,125 688 Spain 1,086 878 960 India 782 553 532 Philippines 378 261 169 Korea 364 219 177 Chile 248 250 397 Bermuda 226 273 159 United Kingdom 226 204 83 Other 1,508 1,272 1,682 Total $ 16,403 $ 14,830 $ 14,607 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 North America Copper Mines South America Atlantic Corporate, Copper Other Cerro Indonesia Molybdenum Rod & Smelting & Elimi- FCX Morenci Other Total Verde Other Total Mining Mines Refining & Refining nations a Total Year Ended December 31, 2017 Revenues: Unaffiliated customers $ 228 $ 180 $ 408 $ 2,811 $ 498 $ 3,309 $ 4,445 $ — $ 4,456 $ 2,031 $ 1,754 b $ 16,403 Intersegment 1,865 2,292 4,157 385 — 385 — 268 26 1 (4,837 ) — Production and delivery 1,052 1,715 2,767 1,878 c 366 2,244 1,743 d 229 4,470 1,966 (3,119 ) 10,300 Depreciation, depletion and amortization 178 247 425 441 84 525 556 76 10 28 94 1,714 Metals inventory adjustments — 2 2 — — — — 1 — — 5 8 Selling, general and administrative expenses 2 2 4 9 — 9 126 d — — 18 327 484 Mining exploration and research expenses — 2 2 — — — — — — — 92 94 Environmental obligations and shutdown costs — — — — — — — — — — 251 251 Net gain on sales of assets — — — — — — — — — — (81 ) (81 ) Operating income (loss) 861 504 1,365 868 48 916 2,020 (38 ) 2 20 (652 ) 3,633 Interest expense, net 3 1 4 212 c — 212 4 — — 18 563 801 Provision for (benefit from) income taxes — — — 436 c 10 446 869 — — 5 (437 ) e 883 Total assets at December 31, 2017 2,861 4,241 7,102 8,878 1,702 10,580 10,911 1,858 277 822 5,752 f 37,302 Capital expenditures 114 53 167 103 12 115 875 5 4 41 203 1,410 Year Ended December 31, 2016 Revenues: Unaffiliated customers $ 444 $ 240 $ 684 $ 2,241 $ 510 $ 2,751 $ 3,233 $ — $ 3,833 $ 1,825 $ 2,504 b,g $ 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 1,351 407 1,758 1,794 199 3,836 1,712 (1,534 ) h 10,697 Depreciation, depletion and amortization 217 313 530 443 110 553 384 68 10 29 956 2,530 Impairment of oil and gas properties — — — — — — — — — — 4,317 4,317 Metals inventory adjustments — 1 1 — — — — 15 — — 20 36 Selling, general and administrative expenses 2 3 5 8 1 9 90 — — 17 486 h 607 Mining exploration and research expenses — 3 3 — — — — — — — 61 64 Environmental obligations and shutdown costs — — — — — — — — — — 20 20 Net gain on sales of assets (576 ) — (576 ) — — — — — — — (73 ) (649 ) Operating income (loss) 1,143 336 1,479 626 (8 ) 618 1,027 (96 ) 16 72 (5,908 ) (2,792 ) Interest expense, net 3 1 4 82 — 82 — — — 15 654 755 Provision for (benefit from) income taxes — — — 222 (6 ) 216 442 — — 9 (296 ) 371 Total assets at December 31, 2016 2,863 4,448 7,311 9,076 1,533 10,609 10,493 1,934 220 658 6,092 f 37,317 Capital expenditures 77 25 102 380 2 382 1,025 2 1 17 1,284 i 2,813 a. Includes U.S. oil and gas operations, which were previously a reportable segment. 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 America and South America copper mines. c. Includes net charges of $203 million in production and delivery costs, $145 million in interest expense and $7 million in provision for income taxes associated with disputed royalties for prior years. d. Includes net charges of $120 million in production and delivery costs and $5 million in selling, general and administrative expenses for PT-FI workforce reductions. e. Includes provisional tax credits totaling $393 million related to U.S. tax reform, primarily for the reversal of valuation allowances associated with the anticipated refund of AMT credits and a decrease in corporate income tax rates. f. Includes (i) assets held for sale totaling $598 million at December 31, 2017 , and $344 million at December 31, 2016 , primarily associated with Freeport Cobalt and the Kisanfu exploration project and (ii) includes assets associated with oil and gas operations totaling $271 million at December 31, 2017 , and $467 million at December 31, 2016 . g. Includes net mark-to-market losses of $35 million associated with oil derivative contracts, which were entered into as part of the terms to sell the onshore California oil and gas properties in 2016. h. Includes net charges for oil and gas operations totaling $1.0 billion in production and delivery costs, primarily for drillship settlements/idle rig and contract termination costs, inventory adjustments, asset impairments and other net charges, and $85 million in selling, general and administrative expenses for net restructuring charges. i. Includes $1.2 billion associated with oil and gas operations and $73 million associated with discontinued operations. Refer to Note 2 for a summary of the results of discontinued operations. North America Copper Mines South America Atlantic Corporate, Copper Other Cerro Indonesia Molybdenum Rod & Smelting & Elimi- FCX Morenci Other Total Verde Other Total Mining Mines Refining & Refining nations a Total Year Ended December 31, 2015 Revenues: Unaffiliated customers $ 558 $ 351 $ 909 $ 1,065 $ 808 $ 1,873 $ 2,617 $ — $ 4,125 $ 1,955 $ 3,128 b,c $ 14,607 Intersegment 1,646 2,571 4,217 68 (7 ) d 61 36 348 29 15 (4,706 ) — Production and delivery e 1,523 2,276 3,799 815 623 1,438 1,808 312 4,129 1,848 (2,641 ) f 10,693 Depreciation, depletion and amortization 217 343 560 219 133 352 293 97 9 39 1,890 3,240 Impairment of oil and gas properties — — — — — — — — — — 13,144 13,144 Metals inventory adjustments — 142 142 — 73 73 — 11 — — 112 338 Selling, general and administrative expenses 3 3 6 3 1 4 103 — — 16 429 558 Mining exploration and research expenses — 7 7 — — — — — — — 100 107 Environmental obligations and shutdown costs — 3 3 — — — — — — — 75 78 Net gain on sales of assets — (39 ) (39 ) — — — — — — — — (39 ) Operating income (loss) 461 187 648 96 (29 ) 67 449 (72 ) 16 67 (14,687 ) (13,512 ) Interest expense, net 2 2 4 16 — 16 — — — 10 587 617 Provision for (benefit from) income taxes — — — 13 (9 ) 4 195 — — 4 (2,154 ) (1,951 ) Total assets at December 31, 2015 3,567 4,878 8,445 9,445 1,661 11,106 9,306 1,999 219 612 14,890 g 46,577 Capital expenditures 253 102 355 1,674 48 1,722 901 13 4 23 3,335 g 6,353 a. Includes U.S. oil and gas operations, which were previously a reportable segment. b. Includes revenues from FCX’s molybdenum sales company, which included sales of molybdenum produced by the Molybdenum mines and by certain of the North America and South America copper mines. c. Includes net mark-to-market gains associated with crude oil and natural gas derivative contracts totaling $87 million . d. Reflects net reductions for provisional pricing adjustments to prior open sales. e. 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 and $23 million at Corporate, Other & Eliminations. f. Includes charges for oil and gas operations totaling $188 million primarily for idle/terminated rig costs, inventory adjustments, asset impairments and other charges. g. Includes (i) assets held for sale totaling $4.9 billion and (ii) capital expenditures totaling $229 million associated with discontinued operations. Refer to Note 2 for a summary of the results of discontinued operations.

GUARANTOR FINANCIAL STATEMENT45

GUARANTOR FINANCIAL STATEMENTS (Tables)	12 Months Ended
	Dec. 31, 2017
Guarantor Financial Statements [Abstract]
Condensed Balance Sheet	CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2017 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX ASSETS Current assets $ 75 $ 671 $ 10,823 $ (790 ) $ 10,779 Property, plant, equipment and mine development costs, net 14 11 22,821 (10 ) 22,836 Oil and gas properties subject to amortization, less accumulated amortization and impairments — — 8 — 8 Investments in consolidated subsidiaries 19,570 — — (19,570 ) — Other assets 943 48 3,179 (491 ) 3,679 Total assets $ 20,602 $ 730 $ 36,831 $ (20,861 ) $ 37,302 LIABILITIES AND EQUITY Current liabilities $ 1,683 $ 220 $ 4,073 $ (938 ) $ 5,038 Long-term debt, less current portion 10,021 6,512 5,440 (10,270 ) 11,703 Deferred income taxes 748 a — 2,874 — 3,622 Environmental and asset retirement obligations, less current portion — 201 3,430 — 3,631 Investments in consolidated subsidiary — 853 10,397 (11,250 ) — Other liabilities 173 3,340 1,987 (3,488 ) 2,012 Total liabilities 12,625 11,126 28,201 (25,946 ) 26,006 Equity: Stockholders’ equity 7,977 (10,396 ) 5,916 4,480 7,977 Noncontrolling interests — — 2,714 605 3,319 Total equity 7,977 (10,396 ) 8,630 5,085 11,296 Total liabilities and equity $ 20,602 $ 730 $ 36,831 $ (20,861 ) $ 37,302 a. All U.S.-related deferred income taxes are recorded at the parent company. CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2016 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX ASSETS Current assets $ 230 $ 1,790 $ 11,675 $ (3,260 ) $ 10,435 Property, plant, equipment and mine development costs, net 19 24 23,176 — 23,219 Oil and gas properties 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 $ 3,895 $ 308 $ 3,306 $ (3,244 ) $ 4,265 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 Income Statement	CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) Year Ended December 31, 2017 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 52 $ 16,351 $ — $ 16,403 Total costs and expenses 42 78 12,640 10 12,770 Operating (loss) income (42 ) (26 ) 3,711 (10 ) 3,633 Interest expense, net (467 ) (227 ) (455 ) 348 (801 ) Net gain (loss) on early extinguishment of debt 22 5 (6 ) — 21 Other income (expense), net 339 — 58 (348 ) 49 (Loss) income before income taxes and equity in affiliated companies’ net earnings (losses) (148 ) (248 ) 3,308 (10 ) 2,902 Benefit from (provision for) income taxes 220 (108 ) (998 ) 3 (883 ) Equity in affiliated companies’ net earnings (losses) 1,745 10 (337 ) (1,408 ) 10 Net income (loss) from continuing operations 1,817 (346 ) 1,973 (1,415 ) 2,029 Net income from discontinued operations — — 66 — 66 Net income (loss) 1,817 (346 ) 2,039 (1,415 ) 2,095 Net income attributable to noncontrolling interests: Continuing operations — — (150 ) (124 ) (274 ) Discontinued operations — — (4 ) — (4 ) Net income (loss) attributable to common stockholders $ 1,817 $ (346 ) $ 1,885 $ (1,539 ) $ 1,817 Other comprehensive income (loss) 61 — 61 (61 ) 61 Total comprehensive income (loss) $ 1,878 $ (346 ) $ 1,946 $ (1,600 ) $ 1,878 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 ) Net gain on early extinguishment and exchanges of debt 26 — — — 26 Other income (expense), net 271 — 70 (292 ) 49 (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 impairment charges totaling $1.5 billion at the FM O&G LLC Guarantor and $2.8 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 INCOME (LOSS) 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 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, 2017 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Net cash (used in) provided by operating activities $ (156 ) $ (467 ) $ 5,305 $ — $ 4,682 Cash flow from investing activities: Capital expenditures — (25 ) (1,385 ) — (1,410 ) Intercompany loans (777 ) — — 777 — Dividends from (investments in) consolidated subsidiaries 3,226 (15 ) 120 (3,331 ) — Asset sales and other, net — 57 (10 ) — 47 Net cash provided by (used in) investing activities 2,449 17 (1,275 ) (2,554 ) (1,363 ) Cash flow from financing activities: Proceeds from debt — — 955 — 955 Repayments of debt (2,281 ) (205 ) (1,326 ) — (3,812 ) Intercompany loans — 663 114 (777 ) — Cash dividends paid and distributions received, net (2 ) — (3,440 ) 3,266 (176 ) Other, net (10 ) (10 ) (67 ) 65 (22 ) Net cash (used in) provided by financing activities (2,293 ) 448 (3,764 ) 2,554 (3,055 ) Net (decrease) increase in cash and cash equivalents — (2 ) 266 — 264 Increase in cash and cash equivalents in assets held for sale — — (62 ) — (62 ) Cash and cash equivalents at beginning of year — 2 4,243 — 4,245 Cash and cash equivalents at end of year $ — $ — $ 4,447 $ — $ 4,447 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Year Ended December 31, 2016 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX 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 ) — Asset sales and other, net 2 1,673 4,692 (4 ) 6,363 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 Year Ended December 31, 2015 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX 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 ) Asset sales and 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

QUARTERLY FINANCIAL INFORMATI46

QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Quarterly financial information	First Quarter Second Quarter Third Quarter Fourth Quarter Year 2017 Revenues $ 3,341 $ 3,711 $ 4,310 $ 5,041 $ 16,403 Operating income 580 669 917 1,467 3,633 Net income from continuing operations 268 326 242 1,193 2,029 Net income from discontinued operations 38 9 3 16 66 Net income 306 335 245 1,209 2,095 Net (income) loss attributable to noncontrolling interests: Continuing operations (75 ) (66 ) 35 (168 ) (274 ) Discontinued operations (3 ) (1 ) — — (4 ) Net income attributable to common stockholders 228 268 280 1,041 1,817 Basic net income per share attributable to common stockholders: Continuing operations $ 0.13 $ 0.18 $ 0.19 $ 0.71 $ 1.21 Discontinued operations 0.03 — — 0.01 0.04 $ 0.16 $ 0.18 $ 0.19 $ 0.72 $ 1.25 Basic weighted-average shares outstanding 1,446 1,447 1,448 1,448 1,447 Diluted net income per share attributable to common stockholders: Continuing operations $ 0.13 $ 0.18 $ 0.19 $ 0.70 $ 1.21 Discontinued operations 0.03 — — 0.01 0.04 $ 0.16 $ 0.18 $ 0.19 $ 0.71 $ 1.25 Diluted weighted-average shares outstanding 1,454 1,453 1,454 1,455 1,454 Following summarizes significant charges (credits) included in FCX’s net income attributable to common stockholders for the 2017 quarters: • Net charges at Cerro Verde related to Peruvian government claims for disputed royalties (refer to Note 12 for further discussion) totaled $186 million to net income attributable to common stock or $0.13 per share for the year (consisting of $203 million to operating income, $145 million to interest expense and $7 million to provision for income taxes, net of $169 million to noncontrolling interests), most of which was recorded in the third quarter. • Net charges associated with PT-FI workforce reductions for the year totaled $125 million to operating income ( $66 million to net income attributable to common stockholders or $0.04 per share) and included $21 million in the first quarter, $87 million in the second quarter, $9 million in the third quarter and $8 million in the fourth quarter. • Net adjustments to environmental obligations and related litigation reserves totaled $210 million to operating income and net income attributable to common stockholders ( $0.14 per share) for the year, and included net charges (credits) totaling $19 million in the first quarter, $(30) million in the second quarter, $64 million in the third quarter and $157 million in the fourth quarter. • Net gains on sales of assets totaling $81 million to operating income and net income attributable to common stockholders ( $0.06 per share) for the year were mostly associated with sales of oil and gas properties, and included $23 million in the first quarter, $10 million in the second quarter, $33 million in the third quarter and $15 million in the fourth quarter. Refer to Note 2 for further discussion of asset dispositions. • Net tax credits totaling $438 million to net income attributable to common stockholders ( $0.30 per share) for the year were mostly associated with provisional tax credits associated with U.S. tax reform ( $393 million ), which were recorded in the fourth quarter. Refer to Note 11 for further discussion. • In November 2016, FCX completed the sale of its interest in TFHL (refer to Note 2 for further discussion), and the results of TFHL are reported as discontinued operations for all periods presented. Net income from discontinued operations for the 2017 periods primarily reflects adjustments to the fair value of the potential contingent consideration related to the sale, which will continue to be adjusted through December 31, 2019. First Quarter Second Quarter Third Quarter Fourth Quarter Year 2016 Revenues $ 3,242 $ 3,334 $ 3,877 $ 4,377 $ 14,830 Operating (loss) income (3,872 ) 18 359 703 (2,792 ) Net (loss) income from continuing operations (4,097 ) (229 ) 292 202 (3,832 ) Net loss from discontinued operations (4 ) (181 ) (6 ) (2 ) (193 ) Net (loss) income (4,101 ) (410 ) 286 200 (4,025 ) Net income, and gain on redemption and preferred dividends attributable to noncontrolling interests: Continuing operations (73 ) (57 ) (47 ) 111 (66 ) 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 to 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 ) Basic weighted-average shares outstanding 1,251 1,269 1,346 1,403 1,318 Diluted weighted-average shares outstanding 1,251 1,269 1,351 1,410 1,318 Following summarizes significant charges (credits) included in FCX’s net (loss) income attributable to common stockholders for the 2016 quarters: • Impairment of oil and oil and gas properties pursuant to full cost accounting rules (refer to Note 1 for further discussion) totaled $4.3 billion to operating (loss) income and net (loss) income attributable to common stockholders ( $3.28 per share) for the year, and included $3.8 billion in the first quarter, $291 million in the second quarter and $239 million in the third quarter. • Other oil and gas charges for the year totaled $1.1 billion to operating (loss) income and net (loss) income attributable to common stockholders ( $0.84 per share) mostly associated with drillship settlements/idle rig costs (refer to Note 13 for further discussion of drillship settlements), inventory adjustments, other asset impairment and restructuring charges, and included $201 million in the first quarter, $729 million in the second quarter, $50 million in the third quarter and $142 million in the fourth quarter. • During 2016, FCX completed several asset sale transactions, including the sale of substantially all of its oil and gas properties and the sale of an additional undivided interest in the Morenci minerals district (refer to Note 2 for further discussion of these and other 2016 asset dispositions). Net gains (losses) on the sales of assets totaled $649 million to operating (loss) income and net (loss) income attributable to common stockholders ( $0.49 per share) for the year, and included $749 million in the second quarter, $13 million in the third quarter and $(113) million in the fourth quarter. • Net tax credits of $374 million to net (loss) income attributable to common stockholders ( $0.28 per share) for the year were primarily associated with AMT credits, changes to valuation allowances and net operating loss claims, and included net tax (charges) credits totaling $(42) million in the second quarter, $332 million in the third quarter and $84 million in the fourth quarter. • Net loss from discontinued operations for the 2016 periods reflects the results of TFHL and includes charges for allocated interest expense associated with the portion of a bank term loan that was required to be repaid as a result of the sale of FCX’s interest in TFHL. The 2016 periods also include charges for the loss on disposal totaling $198 million ( $0.15 per share) for the year, consisting of $177 million in the second quarter, $5 million in the third quarter and $16 million in the fourth quarter. Refer to Note 2 for further discussion of the sale of FCX’s interest in TFHL. • Net (loss) income attributable to common stockholders in the fourth quarter and for the year included a gain on redemption of noncontrolling interest for the settlement of FCX’s preferred stock obligation at its Plains Offshore subsidiary totaling $199 million ( $0.15 per share for the year). Refer to Note 2 for further discussion.

SUPPLEMENTARY MINERAL RESERVE47

SUPPLEMENTARY MINERAL RESERVE INFORMATION (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2017
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, 2017 Copper a (billion pounds) Gold (million ounces) Molybdenum (billion pounds) North America 33.5 0.3 2.22 South America 28.1 — 0.62 Indonesia b 25.1 23.2 — Consolidated c 86.7 23.5 2.84 Net equity interest d 71.3 21.3 2.56 a. Consolidated recoverable copper reserves included 2.1 billion pounds in leach stockpiles and 0.7 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 273.4 million ounces of silver, which were determined using $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 218.2 million ounces of silver.
Supplementary Reserve Information at 100% Basis by Location	Recoverable Proven and Probable Mineral Reserves Estimated at December 31, 2017 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 3,134 0.26 — — c 11.8 — 0.14 Sierrita 2,245 0.23 — c 0.03 9.9 0.1 1.01 Bagdad 1,405 0.31 — c 0.02 7.5 0.1 0.36 Safford, including d 662 0.45 — — 5.0 — — Chino, including Cobre d 276 0.46 0.02 — c 2.4 0.1 0.01 Climax 160 — — 0.15 — — 0.50 Henderson 74 — — 0.17 — — 0.24 Tyrone 9 0.42 — — 0.1 — — Miami — — — — 0.1 — — South America Developed and producing: Cerro Verde 3,577 0.37 — 0.01 25.6 — 0.62 El Abra 394 0.44 — — 2.5 — — Indonesia e Developed and producing: Deep Mill Level Zone 437 0.91 0.76 — 7.7 8.5 — Deep Ore Zone 79 0.54 0.76 — 0.9 1.6 — Big Gossan 58 2.22 0.93 — 2.6 1.2 — Grasberg open pit 34 1.29 2.64 — 1.1 2.7 — Under development: Grasberg Block Cave 963 1.01 0.72 — 18.1 14.5 — Undeveloped: Kucing Liar 360 1.25 1.07 — 8.4 5.4 — Total 100% basis 13,867 103.7 34.2 2.88 Consolidated f 86.7 23.5 2.84 FCX’s equity share g 71.3 21.3 2.56 a. Excludes material contained in stockpiles. b. Includes estimated recoverable metals contained in stockpiles. c. Amounts not shown because of rounding. d. The Lone Star oxide project is under development, and the Cobre ore body is undeveloped. e. 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). f. 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. g. 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, 2017
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, 2016 and 2015, follows: 2016 2015 Property acquisition costs for unproved properties $ 7 $ 61 Exploration costs 22 1,250 Development costs 749 1,442 $ 778 $ 2,753
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 Properties subject to amortization $ 27,507 $ 24,538 Accumulated amortization a (27,433 ) (22,276 ) $ 74 $ 2,262 a. Includes charges of $4.3 billion in 2016 and $13.1 billion in 2015 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 and 2015 , presented below, exclude non-oil and gas revenues, general and administrative expenses, interest expense and interest income. Income tax benefit was determined by applying the statutory rates to pre-tax operating results: 2016 2015 Revenues from oil and gas producing activities $ 1,513 $ 1,994 Production and delivery costs (1,829 ) a (1,215 ) Depreciation, depletion and amortization (839 ) (1,772 ) Impairment of oil and gas properties (4,317 ) (13,144 ) Income tax benefit (based on FCX’s U.S. federal statutory tax rate) — b 5,368 Results of operations from oil and gas producing activities $ (5,472 ) $ (8,769 ) 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 and 2015 . 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 — — — 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 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 , and 9 MMBbls ( 6 MMBbls of developed and 3 MMBbls of undeveloped) at December 31, 2015 .
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, 2016 and 2015, follows: 2016 2015 Future cash inflows $ 345 $ 10,536 Future production expense (175 ) (4,768 ) Future development costs a (439 ) (4,130 ) Future income tax expense — — Future net cash flows (269 ) 1,638 Discounted at 10% per year 32 (246 ) Standardized Measure $ (237 ) $ 1,392 a. Includes estimated asset retirement costs of $0.4 billion at December 31, 2016 , and $1.9 billion at December 31, 2015 .
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, 2016 and 2015, follows: 2016 2015 Balance at beginning of year $ 1,392 $ 6,421 Changes during the year: Sales, net of production expenses (831 ) (928 ) Net changes in sales and transfer prices, net of production expenses (341 ) (7,766 ) Extensions, discoveries and improved recoveries — 45 Changes in estimated future development costs, including timing and other 146 1,287 Previously estimated development costs incurred during the year 295 985 Sales of reserves in-place (1,049 ) — Revisions of quantity estimates 12 (1,170 ) Accretion of discount 139 797 Net change in income taxes — 1,721 Total changes (1,629 ) (5,029 ) Balance at end of year $ (237 ) $ 1,392

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 ($)	Dec. 31, 2017USD ($)$ / bbl	Dec. 31, 2016USD ($)$ / bbl	Dec. 31, 2015USD ($)$ / bbl
Schedule of Significant Accounting Policies [Line Items]
Reclassification to Well, Facilities, and Equipment Based on Determination of Proved Reserves					$ 4,900
Impairment of Oil and Gas Properties	$ 200	$ 300	$ 3,800	$ 0	4,317	$ 13,144
Foreign currency transaction gains (losses), before tax				$ (5)	32	(90)
Transfer to full cost pool						6,400
United States oil and gas operations
Schedule of Significant Accounting Policies [Line Items]
Capitalized interest					$ 7	$ 58
Crude Oil
Schedule of Significant Accounting Policies [Line Items]
Average sales price (usd per bbl) | $ / bbl				51.34	42.75	50.28
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) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
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
United States oil and gas operations
Property, Plant and Equipment [Line Items]
Interest Costs Capitalized		$ 7	$ 58
United States oil and gas operations | Oil and Gas Properties [Member]
Property, Plant and Equipment [Line Items]
Interest Costs Capitalized		$ 7	$ 58

SUMMARY OF SIGNIFICANT ACCOUN51

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Earnings Per Share) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Accounting Policies [Abstract]
Net income (loss) from continuing operations	$ 1,193	$ 242	$ 326	$ 268	$ 202	$ 292	$ (229)	$ (4,097)	$ 2,029	$ (3,832)	$ (12,180)
Net income from continuing operations attributable to noncontrolling interests									(274)	(227)	(27)
Gain on redemption and preferred dividends attributable to noncontrolling interests									0	161	(41)
Accumulated dividends and undistributed earnings allocated to participating securities									(4)	(3)	(3)
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent									1,751	(3,901)	(12,251)
Net income (loss) from discontinued operations	16	3	9	38	(2)	(6)	(181)	(4)	66	(193)	91
Net income from discontinued operations attributable to noncontrolling interests	$ 0	$ 0	$ (1)	$ (3)	$ (19)	$ (22)	$ (12)	$ (10)	(4)	(63)	(79)
Net income (loss) from discontinued operations attributable to common stockholders									62	(256)	12
Net Income (Loss) Available to Common Stockholders, Diluted									$ 1,813	$ (4,157)	$ (12,239)
Weighted Average Number of Shares Outstanding, Basic	1,448,000,000	1,448,000,000	1,447,000,000	1,446,000,000	1,403,000,000	1,346,000,000	1,269,000,000	1,251,000,000	1,447,000,000	1,318,000,000	1,082,000,000
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements									7,000,000	0	0
Weighted Average Number of Shares Outstanding, Diluted	1,455,000,000	1,454,000,000	1,453,000,000	1,454,000,000	1,410,000,000	1,351,000,000	1,269,000,000	1,251,000,000	1,454,000,000	1,318,000,000	1,082,000,000
Basic and diluted net income (loss) per share attributable to common stockholders:
Continuing operations (in dollars per share)					$ 0.22	$ 0.18	$ (0.23)	$ (3.34)	$ 1.21	$ (2.96)	$ (11.32)
Discontinued operations (in dollars per share)	$ 0.01	$ 0	$ 0	$ 0.03	(0.01)	(0.02)	(0.15)	(0.01)	0.04	(0.20)	0.01
Earnings per share, basic and diluted (in dollars per share)					$ 0.21	$ 0.16	$ (0.38)	$ (3.35)	$ 1.25	$ (3.16)	$ (11.31)
Potential anti-dilutive securities										12,000,000	9,000,000
Outstanding options with exercise prices greater than market price of common stock									41,000,000	46,000,000	45,000,000

DISPOSITIONS AND ACQUISITIONS52

DISPOSITIONS AND ACQUISITIONS (TF Holdings Limited) (Details) $ in Millions	Nov. 16, 2016USD ($)$ / lb	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Nov. 15, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Other assets		$ 2,270	$ 1,956
Net gain on sales of assets		$ (81)	(649)	$ (39)
Freeport Cobalt
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage		56.00%
Kisanfu Exploration Project
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage		100.00%
Disposed of by Sale, Discontinued Operations | TF Holdings Limited
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues		$ 13	959	1,270
Proceeds from divestiture, net	$ 2,650
Contingent receivable	120
Discontinued Operation, Change in Contingent Receivable		61	13
Other assets		74	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
Eliminations | Disposed of by Sale, Discontinued Operations | TF Holdings Limited
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues		$ (13)	$ 157	$ 114

DISPOSITIONS AND ACQUISITIONS53

DISPOSITIONS AND ACQUISITIONS (Net Income (Loss) from Discontinued Operations) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net gain (loss) on disposal									$ 57	$ (198)	$ 0
Net income (loss) from discontinued operations	$ 16	$ 3	$ 9	$ 38	$ (2)	$ (6)	$ (181)	$ (4)	66	(193)	91
Other assets	2,270				1,956				2,270	1,956
Eliminations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net income (loss) from discontinued operations									0	(39)	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									13	959	1,270
Production and delivery costs									0	833	852
Depreciation, depletion and amortization									0	80	257
Interest expense allocated from parentc									0	39	28
Other costs and expenses, net									0	10	26
Income (loss) before income taxes and net gain (loss) on disposal									13	(3)	107
Net gain (loss) on disposal									57	(198)	0
Net income (loss) before income taxes									70	(201)	107
(Provision for) benefit from income taxes									(4)	8	(16)
Net income (loss) from discontinued operations									66	(193)	91
Other assets	$ 74				$ 13				74	13
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									$ (13)	$ 157	$ 114

DISPOSITIONS AND ACQUISITIONS54

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

DISPOSITIONS AND ACQUISITIONS55

DISPOSITIONS AND ACQUISITIONS (Oil and Gas Operations) (Details) $ in Millions	Jul. 31, 2017USD ($)	Mar. 17, 2017USD ($)	Dec. 30, 2016USD ($)	Dec. 15, 2016USD ($)	Jul. 25, 2016USD ($)	Jun. 17, 2016USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2017USD ($)$ / bbl	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Other current assets							$ 199	$ 199	$ 270	$ 199
Other assets							1,956	1,956	2,270	1,956
Net gain on sales of assets									(81)	(649)	$ (39)
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									0	2,272	$ 0
Freeport-McMoRan Oil & Gas
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net gain on sales of assets									(49)
Freeport-McMoRan Oil & Gas | Gulf of Mexico [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sales	$ 62
Freeport-McMoRan Oil & Gas | Madden [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sales		$ 17.5
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
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				33	33		33
Other assets							33	33	$ 34	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
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				$ 150	$ 150		$ 150
Other current assets									$ 24
Other assets									$ 126
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 ACQUISITIONS56

DISPOSITIONS AND ACQUISITIONS (Morenci) (Details) - USD ($) $ in Millions	May 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net gain on sales of assets		$ 81	$ 649	$ 39
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 | SMM Morenci Inc. [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage			13.00%
Morenci
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage		72.00%
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 | SMM Morenci Inc. [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage		13.00%

DISPOSITIONS AND ACQUISITIONS57

DISPOSITIONS AND ACQUISITIONS (Timok) (Details) - USD ($) $ in Millions	May 02, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net gain on sales of assets		$ 81	$ 649	$ 39
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 ACQUISITIONS A

DISPOSITIONS AND ACQUISITIONS Assets Held for Sale (Details) - USD ($) $ in Millions	3 Months Ended							12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Long Lived Assets Held-for-sale [Line Items]
Gain (Loss) on Disposition of Assets	$ (15)	$ (33)	$ (10)	$ (23)	$ 113	$ (13)	$ (749)	$ (81)	$ (649)	$ (39)
Freeport Cobalt
Long Lived Assets Held-for-sale [Line Items]
Ownership percentage	56.00%							56.00%
Kisanfu Exploration Project
Long Lived Assets Held-for-sale [Line Items]
Ownership percentage	100.00%							100.00%
Freeport Cobalt And Kisanfu Exploration Project
Long Lived Assets Held-for-sale [Line Items]
Gain (Loss) on Disposition of Assets									$ 110
Increase (Decrease) in Assets Held-for-sale								$ 13

OWNERSHIP IN SUBSIDIARIES AND59

OWNERSHIP IN SUBSIDIARIES AND JOINT VENTURES (Details) oz in Millions, lb in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2017USD ($)lboz	Dec. 31, 2016USD ($)	May 31, 2016	Dec. 31, 1994lboz
Summary of investment holdings [Line Items]
Retained Earnings (accumulated deficit)		$ (14,722)	$ (16,540)
Freeport-McMoRan Corporation [Member]
Summary of investment holdings [Line Items]
Number of pounds of copper purchased from Sumitomo (in pounds) | lb		218
Sumitomo Metal Mining, Ltd. and SMM Morenci Inc. [Member]
Summary of investment holdings [Line Items]
Dollar value of pounds purchased from Sumitomo		$ 610
Due from Joint Ventures, Current		$ 18
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-FI
Summary of investment holdings [Line Items]
Net assets (liabilities) in subsidiary		$ 6,300
Retained Earnings (accumulated deficit)		$ 6,000
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			15
Copper
Summary of investment holdings [Line Items]
Estimated Recoverable Proven And Probable Reserves (in pounds) | lb		103,700
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		34.2
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		16,000
Retained Earnings (accumulated deficit)		$ (14,000)
PT-FI
Summary of investment holdings [Line Items]
Ownership percentage		81.28%
Loans outstanding		$ 0
PT-FI | PT Indocopper Investama [Member]
Summary of investment holdings [Line Items]
Ownership percentage		9.36%
PT-FI | 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		$ (40)
Retained Earnings (accumulated deficit)		(452)
Loans outstanding		$ 365
Freeport-McMoRan Oil & Gas
Summary of investment holdings [Line Items]
Ownership percentage		100.00%
Net assets (liabilities) in subsidiary		$ (13,700)
Retained Earnings (accumulated deficit)		(25,300)
Loans outstanding		9,900
Rio Tinto [Member] | Co-venturer [Member]
Summary of investment holdings [Line Items]
Due to Related Parties, Current		$ 30	$ 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%
Morenci
Summary of investment holdings [Line Items]
Ownership percentage				85.00%
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%

INVENTORIES, INCLUDING LONG-T60

INVENTORIES, INCLUDING LONG-TERM MILL AND LEACH STOCKPILES (Components of Inventories) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Components of Inventories [Line Items]
Total materials and supplies, net	$ 1,305	$ 1,306
Mill stockpiles	360	259
Leach stockpiles	1,062	1,079
Total current mill and leach stockpiles	1,422	1,338
Raw materials (primarily concentrate)	265	255
Work-in-process	154	114
Finished goods	747	629
Total product inventories	1,166	998
Mill stockpiles	300	487
Leach stockpiles	1,109	1,146
Total long-term inventoriesb	1,409	1,633
Inventory obsolescence reserves	29	29
Metals inventory adjustments	$ 8	$ 36	$ 338
Molybdenum
Components of Inventories [Line Items]
Metals inventory adjustments			123
Copper
Components of Inventories [Line Items]
Metals inventory adjustments			$ 215

PROPERTY, PLANT, EQUIPMENT AN61

PROPERTY, PLANT, EQUIPMENT AND MINING DEVELOPMENT COSTS, NET (Schedule of PPE) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	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	$ 37,082,000,000	$ 35,956,000,000
Accumulated depreciation, depletion and amortization	(14,246,000,000)	(12,737,000,000)
Property, plant, equipment and mining development costs, net	22,836,000,000	23,219,000,000
Proven and probable reserves [Member]
Property, Plant and Equipment [Line Items]
Property, plant, equipment and mining development costs	3,974,000,000	3,863,000,000
Transfer From Value Beyond Proven And Probable Reserves To Proven And Probable Reserves	112,000,000	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	447,000,000	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	6,212,000,000	5,755,000,000
Buildings and infrastructure
Property, Plant and Equipment [Line Items]
Property, plant, equipment and mining development costs	7,520,000,000	7,479,000,000
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant, equipment and mining development costs	12,201,000,000	11,744,000,000
Mobile equipment
Property, Plant and Equipment [Line Items]
Property, plant, equipment and mining development costs	3,764,000,000	3,725,000,000
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant, equipment and mining development costs	2,964,000,000	2,831,000,000
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	$ 121,000,000	$ 92,000,000	$ 157,000,000

PROPERTY, PLANT, EQUIPMENT AN62

PROPERTY, PLANT, EQUIPMENT AND MINING DEVELOPMENT COSTS, NET (Details) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)$ / lb	Dec. 31, 2017$ / 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	3.25	2.50
Molybdenum
Property, Plant and Equipment [Line Items]
Asset Impairment Evaluation, Average Price Assumption (Dollars per Pound)	10
Average Price	5.23	10.15	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, 2017	Dec. 31, 2016	Dec. 31, 2015
Schedule Of Other Assets [Line Items]
Indefinite-Lived Intangible Assets (Excluding Goodwill)	$ 215	$ 217
Intangible assetsc	306	305
Investments: [Abstract]
Assurance bond	123	120
Available-for-sale securities	30	50
Other	48	50
Disposal group, contingent consideration	234	196
Legally restricted fundsg	189	182
Long-term receivable for taxes	445	129
Rio Tinto's share of ARO	68	71
Long-term employee receivables	20	32
Other	144	130
Total other assets	2,270	1,956
Finite-Lived Intangible Assets, Accumulated Amortization	46	37
Equity in affiliated companies’ net earnings (losses)	10	11	$ (3)
PT-FI
Investments: [Abstract]
Long-term receivable for taxes	417	331
Cerro Verde
Investments: [Abstract]
Long-term receivable for taxes	185	277
PT Smelting
Investments: [Abstract]
PT Smelting	$ 61	83
Ownership percentage	25.00%
Equity in affiliated companies’ net earnings (losses)	$ 68	39
Accounts Receivable, Gross, Current	308	283
NEW MEXICO
Investments: [Abstract]
Legally restricted funds for asset retirement obligations at New Mexico mines	$ 180	$ 173

ACCOUNTS PAYABLE AND ACCRUED 64

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Accounts Payable and Accrued Liabilities [Line Items]
Accounts payable	$ 1,380	$ 1,540
Salaries, wages and other compensation	235	225
Accrued interest	168	129
Accrued taxes, other than income taxes	129	90
Pension, postretirement, postemployment and other employee benefits	111	76
Deferred revenue	91	82
Accrued mining royalties	68	46
Other	139	205
Total accounts payable and accrued liabilities	2,321	2,393
Cash interest paid, net	565	743	$ 570
Cash interest paid, net	$ 565	$ 743	$ 570

DEBT (Details)

DEBT (Details)

1 Months Ended

3 Months Ended

12 Months Ended

Jun. 30, 2017USD ($)

Mar. 31, 2014USD ($)

Dec. 31, 2017USD ($)payment

Dec. 31, 2016USD ($)

Dec. 30, 2016USD ($)

Jun. 30, 2016USD ($)

May 30, 2016USD ($)

Dec. 31, 2014USD ($)

Nov. 30, 2014USD ($)

May 31, 2013USD ($)

Mar. 31, 2013USD ($)

Feb. 28, 2012USD ($)

Debt Instruments [Line Items]

Long-term Debt, Maturities, Repayments of Principal in Year Two

$ 0

Long-term Debt

$ 2,228,000,000

Long-term Debt and Capital Lease Obligations, Including Current Maturities

(13,117,000,000)

(16,027,000,000)

Long-term Debt and Capital Lease Obligations, Repayments of Principal in Next Twelve Months

(1,414,000,000)

(1,232,000,000)

Long-term Debt and Capital Lease Obligations

11,703,000,000

14,795,000,000

Cerro Verde [Abstract]

Extinguishment of Debt, Principal Amount

2,342,000,000

Senior Notes [Member]

Debt Instruments [Line Items]

Long-term Debt, Maturities, Repayments of Principal in Year Two

14,000,000

Long-term Debt

1,200,000,000

Cerro Verde [Abstract]

Extinguishment of Debt, Principal Amount

1,234,000,000

407,000,000

$ 6,500,000,000

Other Debt, Including Capital Leases and Short Term Borrowings [Member]

Debt Instruments [Line Items]

Long-term Debt and Capital Lease Obligations, Including Current Maturities

(7,000,000)

(5,000,000)

2.15% Senior Notes due 2017 [Member] | Senior Notes [Member]

Debt Instruments [Line Items]

Long-term Debt

0

500,000,000

Cerro Verde [Abstract]

Extinguishment of Debt, Principal Amount

$ 500,000,000

2.30% Senior Notes Due 2017 | Senior Notes [Member]

Debt Instruments [Line Items]

Long-term Debt

0

728,000,000

Cerro Verde [Abstract]

Extinguishment of Debt, Principal Amount

20,000,000

$ 750,000,000

6.125% Senior Notes due 2019 [Member] | Senior Notes [Member]

Debt Instruments [Line Items]

Long-term Debt

0

186,000,000

Cerro Verde [Abstract]

Extinguishment of Debt, Principal Amount

179,000,000

237,000,000

2.375% Senior Notes due March 2018 [Member] | Senior Notes [Member]

Debt Instruments [Line Items]

Long-term Debt

1,408,000,000

1,480,000,000

Cerro Verde [Abstract]

Extinguishment of Debt, Principal Amount

74,000,000

18,000,000

1,500,000,000

6.5% Senior Notes due 2020 [Member] | Senior Notes [Member]

Debt Instruments [Line Items]

Long-term Debt

0

583,000,000

Cerro Verde [Abstract]

Extinguishment of Debt, Principal Amount

552,000,000

617,000,000

6.625% Senior Notes due 2021 [Member] | Senior Notes [Member]

Debt Instruments [Line Items]

Long-term Debt

0

242,000,000

Cerro Verde [Abstract]

Extinguishment of Debt, Principal Amount

228,000,000

261,000,000

6.75% Senior Notes due 2022 [Member] | Senior Notes [Member]

Debt Instruments [Line Items]

Long-term Debt

427,000,000

432,000,000

Cerro Verde [Abstract]

Extinguishment of Debt, Principal Amount

449,000,000

3.55% Senior Notes due 2022 | Senior Notes [Member]

Debt Instruments [Line Items]

Long-term Debt

997,000,000

996,000,000

Cerro Verde [Abstract]

Extinguishment of Debt, Principal Amount

1,000,000,000

6.875% Senior Notes due 2023 [Member] | Senior Notes [Member]

Debt Instruments [Line Items]

Long-term Debt

776,000,000

784,000,000

$ 785,000,000

Cerro Verde [Abstract]

Extinguishment of Debt, Principal Amount

778,000,000

4.00% Senior Notes Due 2021 [Member] | Senior Notes [Member]

Debt Instruments [Line Items]

Long-term Debt

596,000,000

595,000,000

Cerro Verde [Abstract]

Extinguishment of Debt, Principal Amount

600,000,000

3.55% Senior Notes Due 2022 [Member] | Senior Notes [Member]

Debt Instruments [Line Items]

Long-term Debt

1,884,000,000

1,882,000,000

Cerro Verde [Abstract]

Extinguishment of Debt, Principal Amount

108,000,000

$ 2,000,000,000

3.875% Senior Notes due March 2023 [Member] | Senior Notes [Member]

Debt Instruments [Line Items]

Long-term Debt

1,914,000,000

1,912,000,000

Cerro Verde [Abstract]

Extinguishment of Debt, Principal Amount

77,000,000

2,000,000,000

senior notes 4.55 [Member] | Senior Notes [Member]

Debt Instruments [Line Items]

Long-term Debt

845,000,000

844,000,000

Cerro Verde [Abstract]

Extinguishment of Debt, Principal Amount

850,000,000

Senior Notes due 2034 5 point 4 percent [Member] | Senior Notes [Member]

Debt Instruments [Line Items]

Long-term Debt

740,000,000

739,000,000

Cerro Verde [Abstract]

Extinguishment of Debt, Principal Amount

50,000,000

$ 800,000,000

5.450% Senior Notes due March 2043 [Member] | Senior Notes [Member]

Debt Instruments [Line Items]

Long-term Debt

1,842,000,000

1,842,000,000

Cerro Verde [Abstract]

Extinguishment of Debt, Principal Amount

134,000,000

$ 2,000,000,000

Cerro Verde | Shareholder Loan [Member]

Debt Instruments [Line Items]

Long-term Debt

0

261,000,000

Cerro Verde [Abstract]

Extinguishment of Debt, Principal Amount

$ 800,000,000

Related Party Transaction, Remaining Borrowing Capacity

200,000,000

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

127,000,000

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

Freeport-McMoRan Oil & Gas | Senior Notes [Member]

Cerro Verde [Abstract]

Extinguishment of Debt, Principal Amount

$ 6,400,000,000

Freeport-McMoRan Oil & Gas | 6.125% Senior Notes due 2019 [Member] | Senior Notes [Member]

Debt Instruments [Line Items]

Long-term Debt

0

60,000,000

Freeport-McMoRan Oil & Gas | 6.5% Senior Notes due 2020 [Member] | Senior Notes [Member]

Debt Instruments [Line Items]

Long-term Debt

0

69,000,000

Freeport-McMoRan Oil & Gas | 6.625% Senior Notes due 2021 [Member] | Senior Notes [Member]

Debt Instruments [Line Items]

Long-term Debt

0

35,000,000

Cerro Verde [Abstract]

Extinguishment of Debt, Principal Amount

33,000,000

Freeport-McMoRan Oil & Gas | 6.75% Senior Notes due 2022 [Member] | Senior Notes [Member]

Debt Instruments [Line Items]

Long-term Debt

0

48,000,000

Cerro Verde [Abstract]

Extinguishment of Debt, Principal Amount

45,000,000

Freeport-McMoRan Oil & Gas | 6.875% Senior Notes due 2023 [Member] | Senior Notes [Member]

Debt Instruments [Line Items]

Long-term Debt

54,000,000

55,000,000

Line of Credit [Member] | Cerro Verde | Line of Credit [Member]

Debt Instruments [Line Items]

Long-term Debt

$ 1,269,000,000

1,390,000,000

$ 1,500,000,000

$ 1,275,000,000

Revolving Credit Facility [Abstract]

Revolving Credit Facility, Maximum Borrowing Capacity

$ 1,800,000,000

Cerro Verde [Abstract]

Term of Debt Agreement

5 years

Line of Credit Facility, Increase (Decrease), Net

$ 225,000,000

Number of Installment Payments under Installment Program | payment

4

Repayments of Lines of Credit

$ 220,000,000

Debt Instrument, Interest Rate, Effective Percentage

3.47%

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

$ 13,000,000

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

3,500,000,000

Amount of revolving credit facility available to PT Freeport Indonesia

500,000,000

Revolving Credit Facility, Remaining Borrowing Capacity

$ 3,500,000,000

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

2.25%

Revolving Credit Facility [Member] | Base Rate [Member] | Line of Credit [Member]

Revolving Credit Facility [Abstract]

Debt Instrument, Basis Spread on Variable Rate

1.25%

December 31, 2020 [Member] | Line of Credit [Member] | Cerro Verde | Line of Credit [Member]

Cerro Verde [Abstract]

Debt Instrument, Periodic Payment

$ 225,000,000

June 30, 2021 [Member] | Line of Credit [Member] | Cerro Verde | Line of Credit [Member]

Cerro Verde [Abstract]

Debt Instrument, Periodic Payment

225,000,000

December 31, 2021 [Member] | Line of Credit [Member] | Cerro Verde | Line of Credit [Member]

Cerro Verde [Abstract]

Debt Instrument, Periodic Payment

$ 525,000,000

Maximum

Cerro Verde [Abstract]

Debt Instrument, Leverage Ratio

3.75

Minimum

Cerro Verde [Abstract]

Debt Instrument, Coverage Ratio

2.25

DEBT - Components of Debt (Deta

DEBT - Components of Debt (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016	Dec. 30, 2016	Jun. 30, 2016	May 30, 2016	Nov. 30, 2014	Mar. 31, 2013	Feb. 28, 2012
Debt Instruments [Line Items]
Long-term Debt		$ 2,228
Long-term Debt and Capital Lease Obligations, Including Current Maturities	$ 13,117	16,027
Long-term Debt and Capital Lease Obligations, Repayments of Principal in Next Twelve Months	1,414	1,232
Long-term Debt and Capital Lease Obligations	11,703	14,795
Senior Notes [Member]
Debt Instruments [Line Items]
Long-term Debt	$ 1,200
Senior Notes [Member] | 2.15% Senior Notes due 2017 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	2.15%							2.15%
Long-term Debt	$ 0	500
Senior Notes [Member] | 2.30% Senior Notes Due 2017
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	2.30%					2.30%
Long-term Debt	$ 0	728
Senior Notes [Member] | 2.375% Senior Notes due March 2018 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	2.375%						2.375%
Long-term Debt	$ 1,408	1,480
Senior Notes [Member] | 6.125% Senior Notes due 2019 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.125%
Long-term Debt	$ 0	186
Senior Notes [Member] | 3.100% Senior Notes due March 2020
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.10%						3.10%
Long-term Debt	$ 997	996
Senior Notes [Member] | 6.5% Senior Notes due 2020 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.50%
Long-term Debt	$ 0	583
Senior Notes [Member] | 6.625% Senior Notes due 2021 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.625%
Long-term Debt	$ 0	242
Senior Notes [Member] | 4.00% Senior Notes Due 2021 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.00%					4.00%
Long-term Debt	$ 596	595
Senior Notes [Member] | 6.75% Senior Notes due 2022 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.75%
Long-term Debt	$ 427	432
Senior Notes [Member] | 3.55% Senior Notes Due 2022 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.55%							3.55%
Long-term Debt	$ 1,884	1,882
Senior Notes [Member] | 6.875% Senior Notes due 2023 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.875%
Long-term Debt	$ 776	784	$ 785
Senior Notes [Member] | 3.875% Senior Notes due March 2023 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.875%						3.875%
Long-term Debt	$ 1,914	1,912
Senior Notes [Member] | senior notes 4.55 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.55%					4.55%
Long-term Debt	$ 845	844
Senior Notes [Member] | Senior Notes due 2034 5 point 4 percent [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	5.40%					5.40%
Long-term Debt	$ 740	739
Senior Notes [Member] | 5.450% Senior Notes due March 2043 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	5.45%						5.45%
Long-term Debt	$ 1,842	1,842
Other Debt, Including Capital Leases and Short Term Borrowings [Member]
Debt Instruments [Line Items]
Long-term Debt and Capital Lease Obligations, Including Current Maturities	7	5
Revolving Credit Facility [Member] | Line of Credit [Member]
Debt Instruments [Line Items]
Long-term Debt	0	0
Cerro Verde | Shareholder Loan [Member]
Debt Instruments [Line Items]
Long-term Debt	0	261
Cerro Verde | Line of Credit [Member] | Line of Credit [Member]
Debt Instruments [Line Items]
Long-term Debt	$ 1,269	1,390		$ 1,500	$ 1,275
Freeport-McMoRan Oil & Gas | Senior Notes [Member] | 6.125% Senior Notes due 2019 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.125%
Long-term Debt	$ 0	60
Freeport-McMoRan Oil & Gas | Senior Notes [Member] | 6.5% Senior Notes due 2020 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.50%
Long-term Debt	$ 0	69
Freeport-McMoRan Oil & Gas | Senior Notes [Member] | 6.625% Senior Notes due 2021 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.625%
Long-term Debt	$ 0	35
Freeport-McMoRan Oil & Gas | Senior Notes [Member] | 6.75% Senior Notes due 2022 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.75%
Long-term Debt	$ 0	48
Freeport-McMoRan Oil & Gas | Senior Notes [Member] | 6.875% Senior Notes due 2023 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.875%
Long-term Debt	$ 54	55
Freeport McMoRan Corporation [Member] | Senior Notes [Member] | Senior Notes Due 2031 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	9.50%
Long-term Debt	$ 127	128
Freeport McMoRan Corporation [Member] | Senior Notes [Member] | Senior Notes Due 2034 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.125%
Long-term Debt	$ 116	116
Freeport McMoRan Corporation [Member] | Debentures [Member] | Debentures Due 2027 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	7.125%
Long-term Debt	$ 115	$ 115

DEBT - Schedule of Senior Notes

DEBT - Schedule of Senior Notes (Details) - USD ($) $ in Millions	1 Months Ended				12 Months Ended
	Nov. 30, 2013	May 31, 2013	Mar. 30, 2013	Feb. 29, 2012	Dec. 31, 2017	Dec. 31, 2016	Dec. 30, 2016	Mar. 31, 2013
Debt Instruments [Line Items]
Liabilities, Fair Value Adjustment					$ 97	$ 179
Debt Instrument, Face Amount						2,342
Principal Amount of Senior Notes Tendered						2,091
Long-term Debt						$ 2,228
Senior Notes [Member]
Debt Instruments [Line Items]
Percentage of FM O&G LLC senior notes tendered for new FCX senior notes						89.00%
Debt Instrument, Unamortized Consideration Paid					9
Liabilities, Fair Value Adjustment					49	$ 151
Debt Instrument, Unamortized Fair Value Adjustments					81
Debt Instrument, Face Amount					1,234	407		$ 6,500
Proceeds from Issuance of Long-term Debt	$ 2,970		$ 6,400	$ 2,470
Long-term Debt					1,200
Senior Notes [Member] | 6.125% Senior Notes due 2019 [Member]
Debt Instruments [Line Items]
Liabilities, Fair Value Adjustment					$ 5
Debt Instrument, Interest Rate, Stated Percentage					6.125%
Debt Instrument, Face Amount					$ 179	237
Principal Amount of Senior Notes Tendered						179
Long-term Debt					0	186
Senior Notes [Member] | 6.5% Senior Notes due 2020 [Member]
Debt Instruments [Line Items]
Liabilities, Fair Value Adjustment					$ 23
Debt Instrument, Interest Rate, Stated Percentage					6.50%
Debt Instrument, Face Amount					$ 552	617
Principal Amount of Senior Notes Tendered						552
Long-term Debt					0	583
Senior Notes [Member] | 6.625% Senior Notes due 2021 [Member]
Debt Instruments [Line Items]
Liabilities, Fair Value Adjustment					$ 12
Debt Instrument, Interest Rate, Stated Percentage					6.625%
Debt Instrument, Face Amount					$ 228	261
Principal Amount of Senior Notes Tendered						228
Long-term Debt					$ 0	242
Senior Notes [Member] | 6.75% Senior Notes due 2022 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage					6.75%
Debt Instrument, Face Amount						449
Principal Amount of Senior Notes Tendered						404
Long-term Debt					$ 427	432
Senior Notes [Member] | 6.875% Senior Notes due 2023 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage					6.875%
Debt Instrument, Face Amount						778
Principal Amount of Senior Notes Tendered						728
Long-term Debt					$ 776	784	$ 785
Freeport-McMoRan Oil & Gas | Senior Notes [Member]
Debt Instruments [Line Items]
Liabilities, Fair Value Adjustment		$ 716
Debt Instrument, Face Amount		$ 6,400
Freeport-McMoRan Oil & Gas | Senior Notes [Member] | 6.125% Senior Notes due 2019 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage					6.125%
Long-term Debt					$ 0	60
Freeport-McMoRan Oil & Gas | Senior Notes [Member] | 6.5% Senior Notes due 2020 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage					6.50%
Long-term Debt					$ 0	69
Freeport-McMoRan Oil & Gas | Senior Notes [Member] | 6.625% Senior Notes due 2021 [Member]
Debt Instruments [Line Items]
Liabilities, Fair Value Adjustment					$ 2
Debt Instrument, Interest Rate, Stated Percentage					6.625%
Debt Instrument, Face Amount					$ 33
Long-term Debt					0	35
Freeport-McMoRan Oil & Gas | Senior Notes [Member] | 6.75% Senior Notes due 2022 [Member]
Debt Instruments [Line Items]
Liabilities, Fair Value Adjustment					$ 2
Debt Instrument, Interest Rate, Stated Percentage					6.75%
Debt Instrument, Face Amount					$ 45
Long-term Debt					$ 0	48
Freeport-McMoRan Oil & Gas | Senior Notes [Member] | 6.875% Senior Notes due 2023 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage					6.875%
Long-term Debt					$ 54	$ 55

DEBT - Debt Extinguishment (Det

DEBT - Debt Extinguishment (Details) - USD ($)	1 Months Ended	12 Months Ended
	May 31, 2013	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Nov. 30, 2014	Mar. 31, 2013	Feb. 28, 2012
Debt Instruments [Line Items]
Debt Instrument, Face Amount			$ 2,342,000,000
Debt Issuance Costs, Net		$ (85,000,000)	(100,000,000)
Liabilities, Fair Value Adjustment		97,000,000	179,000,000
Gain (Loss) on Extinguishment of Debt		21,000,000	26,000,000	$ 0
Senior Notes [Member]
Debt Instruments [Line Items]
Debt Instrument, Face Amount		1,234,000,000	407,000,000			$ 6,500,000,000
Debt Issuance Costs, Net			(4,000,000)
Liabilities, Fair Value Adjustment		49,000,000	151,000,000
Extinguishment of Debt, Amount		1,283,000,000	403,000,000
Extinguishment Of Debt, Redemption Value		1,257,000,000	349,000,000
Gain (Loss) on Extinguishment of Debt		26,000,000	54,000,000
Gains (losses) primarily associated with modification of credit facility		(5,000,000)
Losses related to deferred debt issuance costs and senior note exchange offer			28,000,000
Senior Notes [Member] | 2.30% Senior Notes Due 2017
Debt Instruments [Line Items]
Debt Instrument, Face Amount			20,000,000		$ 750,000,000
Debt Issuance Costs, Net			0
Extinguishment of Debt, Amount			20,000,000
Extinguishment Of Debt, Redemption Value			20,000,000
Gain (Loss) on Extinguishment of Debt			0
Senior Notes [Member] | 2.375% Senior Notes due March 2018 [Member]
Debt Instruments [Line Items]
Debt Instrument, Face Amount		74,000,000	18,000,000			1,500,000,000
Debt Issuance Costs, Net			0
Liabilities, Fair Value Adjustment		0
Extinguishment of Debt, Amount		74,000,000	18,000,000
Extinguishment Of Debt, Redemption Value		74,000,000	18,000,000
Gain (Loss) on Extinguishment of Debt		0	0
Senior Notes [Member] | 6.125% Senior Notes due 2019 [Member]
Debt Instruments [Line Items]
Debt Instrument, Face Amount		179,000,000	237,000,000
Liabilities, Fair Value Adjustment		5,000,000
Extinguishment of Debt, Amount		184,000,000
Extinguishment Of Debt, Redemption Value		182,000,000
Gain (Loss) on Extinguishment of Debt		2,000,000
Senior Notes [Member] | 6.5% Senior Notes due 2020 [Member]
Debt Instruments [Line Items]
Debt Instrument, Face Amount		552,000,000	617,000,000
Liabilities, Fair Value Adjustment		23,000,000
Extinguishment of Debt, Amount		575,000,000
Extinguishment Of Debt, Redemption Value		562,000,000
Gain (Loss) on Extinguishment of Debt		13,000,000
Senior Notes [Member] | 6.625% Senior Notes due 2021 [Member]
Debt Instruments [Line Items]
Debt Instrument, Face Amount		228,000,000	261,000,000
Liabilities, Fair Value Adjustment		12,000,000
Extinguishment of Debt, Amount		240,000,000
Extinguishment Of Debt, Redemption Value		234,000,000
Gain (Loss) on Extinguishment of Debt		6,000,000
Senior Notes [Member] | 6.75% Senior Notes due 2022 [Member]
Debt Instruments [Line Items]
Debt Instrument, Face Amount			449,000,000
Senior Notes [Member] | 3.55% Senior Notes Due 2022 [Member]
Debt Instruments [Line Items]
Debt Instrument, Face Amount			108,000,000				$ 2,000,000,000
Debt Issuance Costs, Net			(1,000,000)
Extinguishment of Debt, Amount			107,000,000
Extinguishment Of Debt, Redemption Value			96,000,000
Gain (Loss) on Extinguishment of Debt			11,000,000
Senior Notes [Member] | 3.875% Senior Notes due March 2023 [Member]
Debt Instruments [Line Items]
Debt Instrument, Face Amount			77,000,000			2,000,000,000
Debt Issuance Costs, Net			0
Extinguishment of Debt, Amount			77,000,000
Extinguishment Of Debt, Redemption Value			68,000,000
Gain (Loss) on Extinguishment of Debt			9,000,000
Senior Notes [Member] | Senior Notes due 2034 5 point 4 percent [Member]
Debt Instruments [Line Items]
Debt Instrument, Face Amount			50,000,000		$ 800,000,000
Debt Issuance Costs, Net			(1,000,000)
Extinguishment of Debt, Amount			49,000,000
Extinguishment Of Debt, Redemption Value			41,000,000
Gain (Loss) on Extinguishment of Debt			8,000,000
Senior Notes [Member] | 5.450% Senior Notes due March 2043 [Member]
Debt Instruments [Line Items]
Debt Instrument, Face Amount			134,000,000			$ 2,000,000,000
Debt Issuance Costs, Net			(2,000,000)
Extinguishment of Debt, Amount			132,000,000
Extinguishment Of Debt, Redemption Value			106,000,000
Gain (Loss) on Extinguishment of Debt			$ 26,000,000
Freeport-McMoRan Oil & Gas LLC [Member] | Senior Notes [Member] | 6.125% Senior Notes due 2019 [Member]
Debt Instruments [Line Items]
Debt Instrument, Face Amount		58,000,000
Liabilities, Fair Value Adjustment		2,000,000
Extinguishment of Debt, Amount		60,000,000
Extinguishment Of Debt, Redemption Value		59,000,000
Gain (Loss) on Extinguishment of Debt		1,000,000
Freeport-McMoRan Oil & Gas LLC [Member] | Senior Notes [Member] | 6.5% Senior Notes due 2020 [Member]
Debt Instruments [Line Items]
Debt Instrument, Face Amount		65,000,000
Liabilities, Fair Value Adjustment		3,000,000
Extinguishment of Debt, Amount		68,000,000
Extinguishment Of Debt, Redemption Value		66,000,000
Gain (Loss) on Extinguishment of Debt		2,000,000
Freeport-McMoRan Oil & Gas | Senior Notes [Member]
Debt Instruments [Line Items]
Debt Instrument, Face Amount	$ 6,400,000,000
Liabilities, Fair Value Adjustment	$ 716,000,000
Freeport-McMoRan Oil & Gas | Senior Notes [Member] | 6.625% Senior Notes due 2021 [Member]
Debt Instruments [Line Items]
Debt Instrument, Face Amount		33,000,000
Liabilities, Fair Value Adjustment		2,000,000
Extinguishment of Debt, Amount		35,000,000
Extinguishment Of Debt, Redemption Value		34,000,000
Gain (Loss) on Extinguishment of Debt		1,000,000
Freeport-McMoRan Oil & Gas | Senior Notes [Member] | 6.75% Senior Notes due 2022 [Member]
Debt Instruments [Line Items]
Debt Instrument, Face Amount		45,000,000
Liabilities, Fair Value Adjustment		2,000,000
Extinguishment of Debt, Amount		47,000,000
Extinguishment Of Debt, Redemption Value		46,000,000
Gain (Loss) on Extinguishment of Debt		$ 1,000,000

DEBT - Maturities (Details)

DEBT - Maturities (Details) $ in Billions	Dec. 31, 2017USD ($)
Debt Disclosure [Abstract]
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months	$ 1.4
Long-term Debt, Maturities, Repayments of Principal in Year Two	0
Long-term Debt, Maturities, Repayments of Principal in Year Three	1
Long-term Debt, Maturities, Repayments of Principal in Year Four	1.4
Long-term Debt, Maturities, Repayments of Principal in Year Five	2.8
Long-term Debt, Maturities, Repayments of Principal after Year Five	$ 6.5

OTHER LIABILITIES, INCLUDING 70

OTHER LIABILITIES, INCLUDING EMPLOYEE BENEFITS OTHER LIABILITEIS, INCLUDING EMPLOYEE BENEFIT (Components of Other Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Other Liabilities, Including Employee Benefits [Abstract]
Pension, postretirement, postemployment and other employment benefits	$ 1,154	$ 1,345
Estimated Litigation Liability	368	0
Provision for tax positions	291	167
Legal matters	81	77
Insurance claim reserves	47	51
Accrued oil and gas contract commitments	0	43
Other	71	62
Total other liabilities	$ 2,012	$ 1,745

OTHER LIABILITIES, INCLUDING 71

OTHER LIABILITIES, INCLUDING EMPLOYEE BENEFITS (Penion Plans) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2017IDR / $	Dec. 31, 2016IDR / $
Domestic Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected return on plan assets		6.50%
Estimated future average expected rate of return on passively managed pension assets		6.00%
Estimated future average expected premium on actively managed pension assets		0.50%
Domestic Plan [Member] | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage of assets		50.00%
Domestic Plan [Member] | Fixed Income Investments
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage of assets		43.00%
Domestic Plan [Member] | Alternative Investments
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage of assets		7.00%
SERP
Defined Benefit Plan Disclosure [Line Items]
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
Foreign Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected return on plan assets		7.75%
Foreign currency exchange rate | IDR / $		13,480	13,369
Scenario, Forecast [Member] | Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Estimated actuarial net loss (gain) in next fiscal year | $	$ 47

OTHER LIABILITIES, INCLUDING 72

OTHER LIABILITIES, INCLUDING EMPLOYEE BENEFITS (Schedule of Disclosures) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2017USD ($)IDR / $	Dec. 31, 2016USD ($)IDR / $	Dec. 31, 2015USD ($)
Defined Benefit Plan, Pension Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Abstract]
Projected benefit obligation	$ 2,287	$ 2,127
Accumulated benefit obligation	2,163	2,014
Fair value of plan assets	1,521	1,312
Domestic Plan [Member]
Change in benefit obligation:
Benefit obligation at beginning of year	2,135	2,104
Service cost	44	27	$ 36
Interest cost	91	93	87
Actuarial losses (gains)	188	92
Foreign exchange losses (gains)	3	(4)
Special retirement benefitsb	0	0	22
Defined Benefit Plan, Benefit Obligation, Benefits Paid	118	177
Benefits obligation at end of year	2,343	2,135	2,104
Change in plan assets:
Fair value of plan assets at beginning of year	1,329	1,379
Actual return on plan assets	230	88
Employer contributions	145	42
Foreign exchange gains (losses)	2	(3)
Benefits and administrative expenses paid	(118)	(177)
Fair value of plan assets at end of year	1,588	1,329	$ 1,379
Funded status at end of year	(755)	(806)
Accumulated benefit obligation	$ 2,218	$ 2,022
Weighted-average assumptions used to determine benefit obligations [Abstract]
Discount rate	3.70%	4.40%
Rate of compensation increase	3.25%	3.25%
Balance sheet classification of funded status:
Other assets	$ 11	$ 9
Accounts payable and accrued liabilities	(4)	(4)
Other liabilities	(762)	(811)
Total	(755)	$ (806)
Estimated future employer contributions in next fiscal year	$ 75
Weighted-average assumptions used to determine benefit obligations [Abstract]
Discount rate	4.40%	4.60%	4.10%
Expected return on plan assets	7.00%	7.25%	7.25%
Rate of compensation increase	3.25%	3.25%	3.25%
Components of net periodic benefit (income) cost and other amounts recognized in other comprehensive income [Abstract]
Service cost	$ 44	$ 27	$ 36
Interest cost	91	93	87
Expected return on plan assets	(93)	(96)	(102)
Amortization of net actuarial losses	49	42	45
Special retirement benefitsb	0	0	22
Net periodic benefit cost	91	66	88
Foreign Plan [Member]
Change in benefit obligation:
Benefit obligation at beginning of year	374	318
Service cost	20	27	26
Interest cost	23	29	23
Actuarial losses (gains)	(61)	2
Foreign exchange losses (gains)	(2)	8
Special retirement benefitsb	62	0
Defined Benefit Plan, Benefit Obligation, Benefits Paid	52	10
Benefits obligation at end of year	240	374	318
Change in plan assets:
Fair value of plan assets at beginning of year	284	204
Actual return on plan assets	11	47
Employer contributions	28	38
Foreign exchange gains (losses)	(2)	5
Benefits and administrative expenses paid	(52)	(10)
Fair value of plan assets at end of year	269	284	$ 204
Funded status at end of year	29	(90)
Accumulated benefit obligation	$ 194	$ 225
Weighted-average assumptions used to determine benefit obligations [Abstract]
Discount rate	6.75%	8.25%
Rate of compensation increase	4.00%	8.00%
Balance sheet classification of funded status:
Other assets	$ 29	$ 0
Accounts payable and accrued liabilities	0	0
Other liabilities	0	(90)
Total	29	$ (90)
Estimated future employer contributions in next fiscal year	$ 17
Foreign currency exchange rate | IDR / $	13,480	13,369
Weighted-average assumptions used to determine benefit obligations [Abstract]
Discount rate	8.25%	9.00%	8.25%
Expected return on plan assets	7.75%	7.75%	7.75%
Rate of compensation increase	8.00%	9.40%	9.00%
Components of net periodic benefit (income) cost and other amounts recognized in other comprehensive income [Abstract]
Service cost	$ 20	$ 27	$ 26
Interest cost	23	29	23
Expected return on plan assets	(21)	(17)	(14)
Amortization of prior service credit	2	3	3
Amortization of net actuarial losses	0	5	6
Defined Benefit Plan, Accumulated Benefit Obligation, (Increase) Decrease for Settlement and Curtailment	4	0	0
Special retirement benefitsb	62	0
Net periodic benefit cost	28	47	$ 44
Pension Plan
Amounts recognized in other comprehensive loss (income) [Abstract]
Prior service (credit), Before Taxes	10	21
Actuarial net loss (gain), Before Taxes	620	722
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Tax	630	743
Prior service (credit) cost, net of tax	6	11
Actuarial net loss (gain), net of tax	412	466
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax	$ 418	$ 477

OTHER LIABILITIES, INCLUDING 73

OTHER LIABILITIES, INCLUDING EMPLOYEE BENEFITS (Schedule of FV of Financial Assets for Pension Plans) (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Domestic Plan [Member]
Fair value of plan assets measurement [Line items]
Total pension plan net assets	$ 1,588	$ 1,329	$ 1,379
Domestic Plan [Member] | Global equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	404	420
NAV	404	420
Domestic Plan [Member] | Fixed income securities
Fair value of plan assets measurement [Line items]
Total pension plan net assets	154	129
NAV	154	129
Domestic Plan [Member] | Global fixed income securities
Fair value of plan assets measurement [Line items]
Total pension plan net assets	115	107
NAV	115	107
Domestic Plan [Member] | Real estate property
Fair value of plan assets measurement [Line items]
Total pension plan net assets	50	72
NAV	50	72
Domestic Plan [Member] | Emerging markets equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	87	66
NAV	87	66
Domestic Plan [Member] | U.S. small-cap equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	67	60
NAV	67	60
Domestic Plan [Member] | International small-cap equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	72	51
NAV	72	51
Domestic Plan [Member] | U.S. real estate securities
Fair value of plan assets measurement [Line items]
Total pension plan net assets	45	42
NAV	45	42
Domestic Plan [Member] | Short-term investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	12	17
NAV	12	17
Domestic Plan [Member] | Government bonds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	208	160
NAV	0	0
Domestic Plan [Member] | Corporate bonds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	168	141
NAV	0	0
Domestic Plan [Member] | Global large-cap equity securities [Domain]
Fair value of plan assets measurement [Line items]
Total pension plan net assets	119
NAV	0
Domestic Plan [Member] | Private equity investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	20	25
NAV	20	25
Domestic Plan [Member] | Other investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	62	36
NAV	0	0
Domestic Plan [Member] | Total investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	1,583	1,326
NAV	1,026	989
Domestic Plan [Member] | Cash and receivables
Fair value of plan assets measurement [Line items]
Total pension plan net assets	21	4
Domestic Plan [Member] | Payables
Fair value of plan assets measurement [Line items]
Total pension plan net assets	(16)	(1)
Domestic Plan [Member] | Level 1 | Global equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 1 | Fixed income securities
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 1 | Global fixed income securities
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 1 | Real estate property
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 1 | Emerging markets equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 1 | U.S. small-cap equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 1 | International small-cap equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 1 | U.S. real estate securities
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 1 | Short-term investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 1 | Government bonds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 1 | Corporate bonds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 1 | Global large-cap equity securities [Domain]
Fair value of plan assets measurement [Line items]
Total pension plan net assets	119
Domestic Plan [Member] | Level 1 | Private equity investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 1 | Other investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	19	1
Domestic Plan [Member] | Level 1 | Total investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	138	1
Domestic Plan [Member] | Level 2 | Global equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 2 | Fixed income securities
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 2 | Global fixed income securities
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 2 | Real estate property
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 2 | Emerging markets equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 2 | U.S. small-cap equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 2 | International small-cap equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 2 | U.S. real estate securities
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 2 | Short-term investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 2 | Government bonds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	208	160
Domestic Plan [Member] | Level 2 | Corporate bonds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	168	141
Domestic Plan [Member] | Level 2 | Global large-cap equity securities [Domain]
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0
Domestic Plan [Member] | Level 2 | Private equity investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 2 | Other investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	43	35
Domestic Plan [Member] | Level 2 | Total investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	419	336
Domestic Plan [Member] | Level 3 | Global equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 3 | Fixed income securities
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 3 | Global fixed income securities
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 3 | Real estate property
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 3 | Emerging markets equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 3 | U.S. small-cap equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 3 | International small-cap equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 3 | U.S. real estate securities
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 3 | Short-term investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 3 | Government bonds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 3 | Corporate bonds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 3 | Private equity investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 3 | Other investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 3 | Total investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Foreign Plan [Member]
Fair value of plan assets measurement [Line items]
Total pension plan net assets	269	284	$ 204
Foreign Plan [Member] | Total investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	175	166
Foreign Plan [Member] | Common Stock
Fair value of plan assets measurement [Line items]
Total pension plan net assets	78	72
Foreign Plan [Member] | Government bonds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	81	78
Foreign Plan [Member] | Mutual funds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	16	16
Foreign Plan [Member] | Cash and receivables
Fair value of plan assets measurement [Line items]
Total pension plan net assets	94	119
Foreign Plan [Member] | Payables
Fair value of plan assets measurement [Line items]
Total pension plan net assets		(1)
Foreign Plan [Member] | Level 1 | Total investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	175	166
Foreign Plan [Member] | Level 1 | Common Stock
Fair value of plan assets measurement [Line items]
Total pension plan net assets	78	72
Foreign Plan [Member] | Level 1 | Government bonds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	81	78
Foreign Plan [Member] | Level 1 | Mutual funds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	16	16
Foreign Plan [Member] | Level 2 | Total investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Foreign Plan [Member] | Level 2 | Common Stock
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Foreign Plan [Member] | Level 2 | Government bonds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Foreign Plan [Member] | Level 2 | Mutual funds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Foreign Plan [Member] | Level 3 | Total investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Foreign Plan [Member] | Level 3 | Common Stock
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Foreign Plan [Member] | Level 3 | Government bonds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Foreign Plan [Member] | Level 3 | Mutual funds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	$ 0	$ 0

OTHER LIABILITIES, INCLUDING 74

OTHER LIABILITIES, INCLUDING EMPLOYEE BENEFITS (Expected Benefit Payments) (Details) $ in Millions	Dec. 31, 2017USD ($)
Domestic Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
2,017	$ 111
2,018	151
2,019	116
2,020	118
2,021	120
2022 through 2026	635
Foreign Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
2,017	48
2,018	8
2,019	15
2,020	20
2,021	23
2022 through 2026	$ 166

OTHER LIABILITIES, INCLUDING 75

OTHER LIABILITIES, INCLUDING EMPLOYEE BENEFITS (Postretirement and Other Benefits) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Selling, general and administrative expenses	$ 484	$ 607	$ 558
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]
Duration over which health care costs reach ultimate trend rate	15 years
Postemployment Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Accounts payable and accrued liabilities	$ 5	5
Other non-current liabilities	38	34
Selling, general and administrative expenses			16
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	14	16
Other non-current liabilities	$ 129	$ 138
Discount rate	3.50%	3.80%
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]
2,017	$ 14
2,018	14
2,019	13
2,020	13
2,021	12
2022 through 2026	50
Net periodic benefit cost	$ 5	$ 4	$ 6
Discount rate	3.80%	4.10%	3.60%
Health care cost trend rates for the next fiscal year	8.00%
Ultimate health care cost trend rate	4.25%

OTHER LIABILITIES, INCLUDING 76

OTHER LIABILITIES, INCLUDING EMPLOYEE BENEFITS (Defined Contribution Plan) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Defined Contribution Plan Disclosure [Line Items]
Liabilities	$ 26,006	$ 28,060
Accounts payable and accrued liabilities	2,321	2,393
Other liabilities	2,012	1,745
Costs charged to operations for employee savings plans and defined contribution plans	65	78	$ 98
Costs capitalized to oil and gas properties for employee savings plans and defined benefit contribution plans	0	4	$ 13
401K Plan
Defined Contribution Plan Disclosure [Line Items]
Liabilities	$ 46	$ 47

OTHER LIABILITIES, INCLUDING 77

OTHER LIABILITIES, INCLUDING EMPLOYEE BENEFITS (Restructuring Charges) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Restructuring Cost and Reserve [Line Items]
Production and delivery	$ 10,300	$ 10,697	$ 10,693
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
Grasberg Segment [Member] | One-time Termination Benefits
Restructuring Cost and Reserve [Line Items]
Production and delivery	120
Corporate And Eliminations [Member]
Restructuring Cost and Reserve [Line Items]
Production and delivery	(3,119)	$ (1,534)	$ (2,641)
Foreign Plan [Member]
Restructuring Cost and Reserve [Line Items]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Curtailment	$ (4)

STOCKHOLDERS' EQUITY AND STOC78

STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION (Common Stock) (Details) - USD ($) $ / shares in Units, shares in Millions, $ 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, 2017	Dec. 31, 2016	Dec. 31, 2015
Class of Stock [Line Items]
Authorized shares of capital stock										3,050
Authorized shares of common stock										3,000
Authorized shares of preferred stock										50
Issuance of common stock								$ 1,000			$ 2,366	$ 1,936
Proceeds from sale of common stock										$ 0	1,515	$ 1,936
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	$ 0.2605
Common stocks
Class of Stock [Line Items]
Issuance of common stock						$ 1,500			$ 1,000		$ 20	$ 20
Stock Issued During Period, Shares, New Issues	4.3			48.1		116.5	27.7				197	205.7
Shares Issued, Price Per Share						$ 12.87		$ 9.53				$ 9.53
Proceeds from sale of common stock	$ 29					$ 1,500	$ 311					$ 1,960
Proceeds From Issuance Of Common Stock Net						1,480						1,940
Payments of Stock Issuance Costs	$ 0.3					$ 15						$ 20
Debt Instrument, Face Amount							$ 369
Ultra-deepwater Drillship Contracts [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues				48.1
Proceeds from sale of common stock				$ 540
Payments of Stock Issuance Costs				$ 5

STOCKHOLDERS' EQUITY AND STOC79

STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION (Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance, stockholders' equity	$ 6,051
Ending balance, stockholders' equity	7,977	$ 6,051
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), after Reclassification Adjustment, before Tax	52	(79)	$ (7)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance, stockholders' equity	(554)	(507)	(548)
OCI, before Reclassifications, Net of Tax, Attributable to Parent	7	(91)	3
Other Comprehensive Income (Loss), Reclassification, Pension and Other Postretirement Benefit Plans, Net Gain (Loss) Recognized in Net Periodic Benefit Cost, Net of Tax	53	44	38
Ending balance, stockholders' equity	(494)	(554)	(507)
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance, stockholders' equity	(4)	(6)	(6)
OCI, before Reclassifications, Net of Tax, Attributable to Parent	1	2	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	(3)	(4)	(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	(548)	(503)	(544)
OCI, before Reclassifications, Net of Tax, Attributable to Parent	8	(89)	3
Other Comprehensive Income (Loss), Reclassification, Pension and Other Postretirement Benefit Plans, Net Gain (Loss) Recognized in Net Periodic Benefit Cost, Net of Tax	53	44	38
Ending balance, stockholders' equity	(487)	(548)	(503)
Accumulated Defined Benefit Plans Adjustment Attributable to Noncontrolling Interest [Member]
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent	45	11	(2)
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	$ (5)	$ (4)	$ (16)

STOCKHOLDERS' EQUITY AND STOC80

STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION (Details) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
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	64.7
Capitalized costs	$ 0	$ 4	$ 11
Total stock-based compensation	71	89	95
Tax benefit of compensation costs	(4)	(3)	(31)
Impact on net income	67	82	53
Selling, General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	55	69	67
Cost of Sales
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 16	$ 16	$ 17

STOCKHOLDERS' EQUITY AND STOC81

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, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Balance at beginning of period (in number of options/units)	53,794,235
Granted (in number of options/units)	3,861,000
Exercised (in number of options/units)	(647,941)
Expired/Forfeited (in number of options/units)	(8,992,606)
Balance at end of period (in number of options/units)	48,014,688	53,794,235
Weighted-average exercise price at beginning of period (in dollars per option)	$ 30.25
Granted, Exercise Price (in dollars per option)	15.52
Exercised, Exercise Price (in dollars per option)	7.64
Expired/Forfeited, Exercise Price (in dollars per option)	34.24
Weighted-average exercise price at end of period (in dollars per option)	$ 28.63	$ 30.25
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	4 years 10 months
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	$ 129
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	39,725,053
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$ 32.26
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	4 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	$ 62
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	$ 24
Weighted-average period used in calculating unrecognized compensation cost, stock options (in years)	2 years
Fair value assumptions and methodology [Abstract]
Weighted-average expected volatility	51.40%	71.60%	37.90%
Expected life of options (in years)	5 years 8 months 11 days	5 years 4 months 3 days	5 years 2 months 1 day
Expected dividend rate	0.00%	0.00%	4.50%
Risk free interest rate	2.00%	1.30%	1.70%
Weighted-average grant-date fair value (in dollars per option)	$ 7.61	$ 2.64	$ 4.30
Total intrinsic value of options exercised	$ 5	$ 0	$ 1
Fair value of options vested	$ 25	$ 43	$ 50
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)	716,469

STOCKHOLDERS' EQUITY AND STOC82

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, 2017	Dec. 31, 2016	Dec. 31, 2015
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)	600,000	1,500,000	755,000
Vested in Period (number of RSUs and PSUs)			0
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%
Performance Shares [Member] | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Share Unit Payout	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)	7,218,227
Granted in period (number of RSUs and PSUs)	2,062,067
Vested in Period (number of RSUs and PSUs)	(3,175,437)
Forfeited in Period (number of RSUs and PSUs)	(554,233)
Balance at end of period (in number of RSUs and PSUs)	5,550,624	7,218,227
Beginning Balance - weighted average grant date fair value	$ 18.08
Granted - Weighted average grant date fair value	15.37
Vested - weighted average grant date fair value	15.45
Forfeited - weighted average grant date fair value	11.23
Ending balance - weighted average grant date fair value	$ 19.27	$ 18.08
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding	$ 105
Fair value of RSUs and PSUs granted	32	$ 37	$ 46
Intrinsic value of RSUs and PSUs vested	45	$ 22	$ 22
Total unrecognized compensation cost related to unvested RSUs and PSUs expected to be recognized over a weighted-average period	$ 6
Weighted-average period used in calculating unrecognized compensation cost, RSUs and PSUs (in years)	1 year 5 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
2017 [Member] | 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)	374,000
2016 [Member] | Share-based Compensation Award, Tranche 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)	497,000

STOCKHOLDERS' EQUITY AND STOC83

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, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Accounts Payable and Accrued Liabilities, Current	$ 2,321	$ 2,393
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
Vested in Period (number of RSUs and PSUs)	(487,000)
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)	2,531,744
Granted in period (number of RSUs and PSUs)	622,907
Vested in Period (number of RSUs and PSUs)	(1,796,288)
Forfeited in Period (number of RSUs and PSUs)	(51,128)
Balance at end of period (in number of RSUs and PSUs)	1,307,235	2,531,744
Beginning Balance - weighted average grant date fair value	$ 19.30
Granted - Weighted average grant date fair value	15.26
Vested - weighted average grant date fair value	22.43
Forfeited - weighted average grant date fair value	12.96
Ending balance - weighted average grant date fair value	$ 13.32	$ 19.30
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding	$ 25
Fair value of RSUs and PSUs granted	10	$ 4	$ 44
Intrinsic value of RSUs and PSUs vested	27	15
Other Liabilities	5	4
Accounts Payable and Accrued Liabilities, Current	$ 11	$ 23
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 STOC84

STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION (Other info) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Shares Paid for Tax Withholding for Share Based Compensation	1,041,937	906,120	349,122
Proceeds from Stock Options Exercised	$ 5	$ 0	$ 3
Employee Service Share-based Compensation, Tax Benefit Realized from Exercise of Stock Options (Deprecated 2017-01-31)	1	0	11
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Share-based Liabilities Paid	$ 15	$ 6	$ 7

INCOME TAXES (Income before Inc

INCOME TAXES (Income before Income taxes and equity in affiliated companies' net earnings) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Loss Contingencies [Line Items]
U.S.	$ 20	$ (5,179)	$ (14,589)
Foreign	2,882	1,707	461
Income (loss) from continuing operations before income taxes and equity in affiliated companies' net earnings (losses)	2,902	(3,472)	(14,128)
Income Tax Expense (Benefit)	883	$ 371	$ (1,951)
Cerro Verde Royalty Dispute | Royalty Assessments | Cerro Verde
Loss Contingencies [Line Items]
Income Tax Expense (Benefit)	7
Judicial Ruling | Cerro Verde Royalty Dispute | Royalty Assessments
Loss Contingencies [Line Items]
Loss Contingency, Loss in Period	244
Judicial Ruling | Cerro Verde Royalty Dispute | Royalty Assessments | Cerro Verde
Loss Contingencies [Line Items]
Loss Contingency, Loss in Period	$ 348

INCOME TAXES (Provision for (be

INCOME TAXES (Provision for (benefit from) income taxes) (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Current Income Tax Expense (Benefit), Continuing Operations [Abstract]
Federal		$ 3	$ (164)	$ (89)
State		10	(17)	(2)
Foreign		1,426	352	160
Total current		1,439	171	69
Deferred income taxes:
Federal		(64)	(137)	(3,403)
State		(10)	(41)	(154)
Foreign		(89)	451	163
Total deferred		(163)	273	(3,394)
Adjustments		(393)	(13)	1,374
Operating loss carryforwards		0	(60)	0
(Provision for) benefit from income taxes		883	371	$ (1,951)
Reversal of valuation allowances due to 2017 Tax Cuts and Jobs Act	$ (975)	272
Decrease in corporate income tax due to Tax Cuts and Jobs Act	$ 121	121
Net provision associated with an increase in the beginning of the year valuation allowance		$ (1,500)	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, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Amount
U.S. federal statutory tax rate	$ (1,016)	$ 1,215	$ 4,945
Valuation allowance, net	28	(1,680)	(2,955)
Foreign tax credit limitation	(159)	(598)	(228)
Tax reform	393	0	0
Mining royalty dispute	(129)	0	0
Impairment of oil and gas properties	0	520	0
Percentage depletion	227	211	186
Withholding and other impacts on foreign earnings	(216)	(93)	(193)
Effect of foreign rates different than the U.S. federal statutory rate	17	45	12
State income taxes	(5)	46	105
Other items, net	(23)	(37)	79
(Provision for) benefit from income taxes	$ (883)	$ (371)	$ 1,951
Percent
U.S. federal statutory tax rate	(35.00%)	(35.00%)	(35.00%)
Valuation allowance, net	1.00%	48.00%	21.00%
Foreign tax credit limitation	(5.00%)	17.00%	2.00%
Tax reform	14.00%	(0.00%)	(0.00%)
Mining royalty dispute	(5.00%)	(0.00%)	(0.00%)
Impairment of oil and gas properties	(0.00%)	(15.00%)	(0.00%)
Percentage depletion	8.00%	(6.00%)	(1.00%)
Withholding and other impacts on foreign earnings	(7.00%)	3.00%	1.00%
Effect of foreign rates different than the U.S. federal statutory rate	1.00%	(1.00%)	(0.00%)
State income taxes	(1.00%)	(1.00%)	(1.00%)
Other items, net	(1.00%)	1.00%	(1.00%)
(Provision for) benefit from income taxes	(30.00%)	11.00%	(14.00%)
Valuation allowances	$ 4,575	$ 6,058
Impairment To Oil And Gas Properties
Percent
Valuation allowances		$ 1,600	$ 3,300
Chili - Service of Internal Taxes | Foreign Tax Authority
Percent
U.S. federal statutory tax rate	(35.00%)	(35.00%)		(35.00%)
Other nondeductible expense			$ 13
Royalty Assessments | Cerro Verde | Cerro Verde Royalty Dispute
Amount
(Provision for) benefit from income taxes	$ (7)
Royalty Assessments | October 2011 to 2013 | Cerro Verde | Cerro Verde Royalty Dispute
Amount
(Provision for) benefit from income taxes	(136)
Percent
Tax charges related to royalties dispute	136
Royalty Assessments | December 2006 to Tax Year 2013 | Cerro Verde | Cerro Verde Royalty Dispute
Amount
(Provision for) benefit from income taxes	129
Percent
Tax charges related to royalties dispute	$ (129)

INCOME TAXES (Narrative) (Detai

INCOME TAXES (Narrative) (Details) - USD ($) $ in Millions	Jan. 01, 2017	Dec. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Schedule Of Income Taxes [Line Items]
Total income taxes paid to all jurisdictions			$ 702	$ 203	$ 893
Tax refunds received from all jurisdictions			329	247	334
Tax Attributes
Foreign tax credits		$ 2,129	2,129	2,094
Valuation allowances		4,575	4,575	6,058
Net provision associated with an increase in the beginning of the year valuation allowance			1,500	(1,200)
Decrease associated with reduction in corporate income Tax Reform			1,100
Reversal of valuation allowance for minimum tax credit carryforwords due to Tax Reform			371
Provisional net tax benefits associated with Tax Reform			393	0	0
Reversal of valuation allowances due to 2017 Tax Cuts and Jobs Act		(975)	272
Decrease in corporate income tax due to Tax Cuts and Jobs Act		121	121
AMT credits		490	490	444
Provision for (benefit from) income taxes			883	371	(1,951)
Tax charge to establish a reserve for uncertain tax positions		108	108
Income (loss) from continuing operation, foreign			2,882	1,707	461
Income (loss) from continuing operations, domestic			$ 20	$ (5,179)	$ (14,589)
U.S. federal statutory tax rate			35.00%	35.00%	35.00%
Interest on income taxes accrued		22	$ 22	$ 19	$ 16
Unrecognized tax benefits		390	390	101	110	$ 104
Unrecognized tax benefits that would impact the effective tax rate		344	344
Unrecognized tax benefits that would impact the effective tax rate, net of tax benefits		272	272
Valuation allowance for operating loss carryforwards
Tax Attributes
Valuation allowances		2,100	2,100
Foreign Tax Credits
Tax Attributes
Valuation allowances		2,100	2,100
Impairment To Oil And Gas Properties
Tax Attributes
Valuation allowances				1,600	3,300
Discontinued Operations
Schedule Of Income Taxes [Line Items]
Total income taxes paid to all jurisdictions				$ 27	$ 187
SUNAT | Cerro Verde
Tax Attributes
Foreign income tax rate under new stability agreement				32.00%
Foreign Tax Authority
Tax Attributes
Foreign tax credits		1,100	1,100
Operating Loss Carryforwards		566	566
Income (loss) from continuing operation, foreign			$ 5,300
Foreign Tax Authority | Chili - Service of Internal Taxes
Tax Attributes
U.S. federal statutory tax rate			35.00%	35.00%		35.00%
Foreign Tax Authority | Chili - Service of Internal Taxes | 2020 and thereafter
Tax Attributes
U.S. federal statutory tax rate				44.50%
Foreign Tax Authority | Chili - Service of Internal Taxes | Tax Year 2022 and Thereafter
Tax Attributes
U.S. federal statutory tax rate			44.50%
Foreign Tax Authority | Chili - Service of Internal Taxes | Tax Years 2013 to 2017
Tax Attributes
Mining royalty tax rate			4.00%
Foreign Tax Authority | Chili - Service of Internal Taxes | Tax Years 2018 to 2023 | Minimum
Tax Attributes
Mining royalty tax rate			5.00%
Foreign Tax Authority | Chili - Service of Internal Taxes | Tax Years 2018 to 2023 | Maximum
Tax Attributes
Mining royalty tax rate			14.00%
Foreign Tax Authority | SUNAT | 2014
Tax Attributes
U.S. federal statutory tax rate				30.00%
Dividend tax rate				4.10%
Foreign Tax Authority | SUNAT | 2019 and thereafter
Tax Attributes
U.S. federal statutory tax rate				26.00%
Dividend tax rate				9.30%
Foreign Tax Authority | SUNAT | Tax Year 2017
Tax Attributes
Dividend tax rate	5.00%
Corporate Income Tax Rate	29.50%
Domestic Tax Authority
Tax Attributes
Operating Loss Carryforwards		6,400	$ 6,400
Capital Loss Carryforwards		160	160
Valuation allowances		280	280
Income (loss) from continuing operations, domestic			5,300
State and Local Jurisdiction
Tax Attributes
Operating Loss Carryforwards		$ 10,600	10,600
Alternative Minimum Tax Credit
Tax Attributes
Provisional net tax benefits associated with Tax Reform			380
AMT credit carryforwards				$ (72)
Provision for (benefit from) income taxes			$ (38)

INCOME TAXES (Components of def

INCOME TAXES (Components of deferred tax assets and liabilities) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Operating Loss Carryforwards [Line Items]
Foreign	$ 2,882	$ 1,707	$ 461
U.S.	20	(5,179)	$ (14,589)
Deferred tax assets:
Foreign tax credits	2,129	2,094
Accrued expenses	789	923
Oil and gas properties	236	346
AMT credits	490	444
Net operating losses	2,043	2,898
Employee benefit plans	248	403
Other	259	485
Deferred tax assets	5,704	7,593
Valuation allowances	(4,575)	(6,058)
Net deferred tax assets	1,129	1,535
Deferred tax liabilities:
Property, plant, equipment and mine development costs	(3,710)	(4,326)
Undistributed earnings	(811)	(779)
Other	(226)	(195)
Total deferred tax liabilities	(4,747)	(5,300)
Net deferred tax liabilities	(3,618)	$ (3,765)
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
U.S.	5,300
Deferred tax assets:
Valuation allowances	(280)
Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Foreign	5,300
Deferred tax assets:
Foreign tax credits	$ 1,100

INCOME TAXES (Reserve for unrec

INCOME TAXES (Reserve for unrecognized tax benefits, interest and penalties) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Reconciliation of Unrecognized Tax Benefits [Roll Forward]
Balance at beginning of year	$ 101	$ 110	$ 104
Additions:
Prior year tax positions	302	5	7
Current year tax positions	6	28	11
Decreases:
Prior year tax positions	(1)	(3)	(6)
Settlements with taxing authorities	(17)	0	0
Lapse of statute of limitations	(1)	(39)	(6)
Balance at end of year	$ 390	$ 101	$ 110

INCOME TAXES INCOME TAXES (Oper

INCOME TAXES INCOME TAXES (Operating Loss Carryforwards) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Operating Loss Carryforwards [Line Items]
Foreign tax credits	$ 2,129	$ 2,094
Foreign	2,882	1,707	$ 461
U.S.	20	$ (5,179)	$ (14,589)
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	10,600
Federal Tax Authority
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	6,400
Deferred Tax Assets, Capital Loss Carryforwards	160
U.S.	5,300
Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	566
Foreign tax credits	1,100
Foreign	$ 5,300

CONTINGENCIES (Environmental Ob

CONTINGENCIES (Environmental Obligations) (Details) site in Thousands, $ in Millions	Jan. 31, 2017USD ($)divisions	Jun. 30, 2017USD ($)	Dec. 31, 2017USD ($)sitestateproject	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
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			$ 1,221	$ 1,215	$ 1,174
Accretion Expense			84	81	78
Additions			241	26	33
Reductions			(43)	(43)	(3)
Spending			(64)	(58)	(67)
Balance at end of year			1,439	1,221	1,215
Less current portion			(134)	(129)	(100)
Long-term portion			1,305	$ 1,092	$ 1,115
Estimated environmental cash payments (on an undiscounted and unescalated basis) [Abstract]
2,018			134
2,019			132
2,020			117
2,021			119
2,022			88
Thereafter			2,700
Estimated environmental obligations on a discounted basis			1,300
Estimated environmental obligations on an undiscounted and unescalated			$ 3,300
Number of site surveys being performed to mining claims | site			5
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
Minimum
Estimated environmental cash payments (on an undiscounted and unescalated basis) [Abstract]
Estimated environmental obligations on an undiscounted and unescalated			$ 2,800
Maximum
Estimated environmental cash payments (on an undiscounted and unescalated basis) [Abstract]
Estimated environmental obligations on an undiscounted and unescalated			3,700
Pinal Creek, AZ; Newtown Creek, NY; Smelter Sites in Arizona, Indiana, Kansas, Missouri, New Jersey, Oklahoma, Pennsylvania; and Uranium Mining in Wester United States
Accrual for Environmental Loss Contingencies [Roll Forward]
Balance at end of year			1,300
Newtown Creek
Accrual for Environmental Loss Contingencies [Roll Forward]
Additions			138
Borough of Carteret
Accrual for Environmental Loss Contingencies [Roll Forward]
Additions			$ 59
Uranium Mining Sites
Accrual for Environmental Loss Contingencies [Roll Forward]
Reductions		$ (41)

CONTINGENCIES (Asset Retirement

CONTINGENCIES (Asset Retirement Obligations) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Balance at beginning of year	$ 2,635	$ 2,771	$ 2,744
Liabilities incurred	14	12	97
Settlements and revisions to cash flow estimates, net	(112)	529	(69)
Accretion expense	124	137	131
Dispositions	(10)	(626)	0
Spending	(71)	(188)	(132)
Balance at end of year	2,580	2,635	2,771
Less current portion	(254)	(240)	(172)
Long-term portion	$ 2,326	$ 2,395	$ 2,599

CONTINGENCIES (Financial Assura

CONTINGENCIES (Financial Assurances) (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
New Mexico, Arizona, Colorado and Other States
Guarantor Obligations [Line Items]
Environmental costs associated with closure and reclamation/restoration costs	$ 1,200
Guarantee | New Mexico, Arizona, Colorado and Other States
Guarantor Obligations [Line Items]
Environmental costs associated with closure and reclamation/restoration costs	703
Freeport-McMoRan Oil & Gas
Guarantor Obligations [Line Items]
Guarantor obligations, carrying value	614
NEW MEXICO
Guarantor Obligations [Line Items]
Legally restricted funds for asset retirement obligations at New Mexico mines	$ 180	$ 173

CONTINGENCIES (Environmental an

CONTINGENCIES (Environmental and Reclamation Programs) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Site Contingency [Line Items]
ARO, change in estimate	$ (112)	$ 529	$ (69)
New Mexico Environmental And Reclamation Programs
Site Contingency [Line Items]
Accrued reclamation and closure costs	453
Arizona Environmental And Reclamation Programs
Site Contingency [Line Items]
Accrued reclamation and closure costs	346
Colorado Environmental And Reclamation Programs
Site Contingency [Line Items]
Accrued reclamation and closure costs	56
El Abra
Site Contingency [Line Items]
Accrued reclamation and closure costs	58
Cerro Verde
Site Contingency [Line Items]
Accrued reclamation and closure costs	108
Pt Freeport Indonesia Environmental And Reclamation Programs
Site Contingency [Line Items]
Accrued reclamation and closure costs	$ 977
Estimated years the mining activities are expected to continue	24 years
ARO, change in estimate	$ 372
Mine Closure
Site Contingency [Line Items]
Funding restricted time deposit during period for closure and reclamation guarantees	22
Mine Reclamation
Site Contingency [Line Items]
Funding restricted time deposit during period for closure and reclamation guarantees	$ 7

CONTINGENCIES (Oil and Gas Prop

CONTINGENCIES (Oil and Gas Properties) (Details) $ in Millions	Dec. 31, 2017USD ($)platformwell	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Loss Contingencies [Line Items]
ARO, noncurrent	$ 2,580	$ 2,635	$ 2,771	$ 2,744
Freeport-McMoRan Oil & Gas
Loss Contingencies [Line Items]
Number of productive oil wells | well	250
Number of platforms and other structures | platform	140
ARO, noncurrent	$ 553

CONTINGENCIES Royalty Dispute (

CONTINGENCIES Royalty Dispute (Details) - USD ($)	Jan. 01, 2014	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Loss Contingencies [Line Items]
Production and delivery		$ 10,300,000,000	$ 10,697,000,000	$ 10,693,000,000
Interest expense, net		(801,000,000)	(755,000,000)	(617,000,000)
Provision for (benefit from) income taxes		883,000,000	371,000,000	(1,951,000,000)
Net loss attributable to noncontrolling interests		274,000,000	227,000,000	27,000,000
Payments for Legal Settlements		53,000,000	$ 30,000,000	$ 34,000,000
Cerro Verde Royalty Dispute | Judicial Ruling | Royalty Assessments
Loss Contingencies [Line Items]
Loss Contingency, Loss in Period		244,000,000
Cerro Verde Royalty Dispute | Judicial Ruling | Unfavorable Regulatory Actions
Loss Contingencies [Line Items]
Loss Contingency, Loss in Period, Including Tax Charges		355,000,000
Loss Contingency, Loss In Period, Attributable To Parent		186,000,000
Cerro Verde Royalty Dispute | Judicial Ruling | Royalty Assessments, Penalties And Interests
Loss Contingencies [Line Items]
Loss Contingency, Loss in Period		151,000,000
Cerro Verde Royalty Dispute | Judicial Ruling | Royalty Assessments, Taxes
Loss Contingencies [Line Items]
Loss Contingency, Loss in Period		89,000,000
January 2012 to December 2013 | Royalty Assessments
Loss Contingencies [Line Items]
Loss Contingency, Loss in Period		0
October 2011 to 2013 | Royalty Assessments
Loss Contingencies [Line Items]
Loss Contingency, Loss in Period		348,000,000
Tax Year 2006 To Tax Year 2008 | Cerro Verde Royalty Dispute | Judicial Ruling | Royalty Assessments
Loss Contingencies [Line Items]
Payments for Legal Settlements		142,000,000
Tax Year 2009 to Tax Year 2013 [Member] | Cerro Verde Royalty Dispute | Pending Litigation [Member]
Loss Contingencies [Line Items]
Loss Contingency, Estimate of Possible Loss		385,000,000
Cerro Verde
Loss Contingencies [Line Items]
Stability Agreement, Term	15 years
Cerro Verde | Cerro Verde Royalty Dispute | Royalty Assessments
Loss Contingencies [Line Items]
Production and delivery		203,000,000
Interest expense, net		(145,000,000)
Provision for (benefit from) income taxes		7,000,000
Net loss attributable to noncontrolling interests		(169,000,000)
Cerro Verde | Cerro Verde Royalty Dispute | Royalty Assessments, Taxes
Loss Contingencies [Line Items]
Production and delivery		22,000,000
Provision for (benefit from) income taxes		67,000,000
Cerro Verde | Cerro Verde Royalty Dispute | Judicial Ruling | Royalty Assessments
Loss Contingencies [Line Items]
Loss Contingency, Loss in Period		348,000,000
Cerro Verde | December 2006 to Tax Year 2013 | Cerro Verde Royalty Dispute | Royalty Assessments
Loss Contingencies [Line Items]
Provision for (benefit from) income taxes		(129,000,000)
Cerro Verde | October 2011 to 2013 | Cerro Verde Royalty Dispute | Royalty Assessments
Loss Contingencies [Line Items]
Provision for (benefit from) income taxes		136,000,000
Cerro Verde | October 2011 to 2013 | Cerro Verde Royalty Dispute | Disputed Royalty Assessmentss
Loss Contingencies [Line Items]
Provision for (benefit from) income taxes		69,000,000
Cerro Verde | December 2006 To September 2011 | Cerro Verde Royalty Dispute | Royalty Assessments
Loss Contingencies [Line Items]
Production and delivery		175,000,000
Cerro Verde | Tax Year 2006 To Tax Year 2008 | Cerro Verde Royalty Dispute | Royalty Assessments, Penalties
Loss Contingencies [Line Items]
Production and delivery		6,000,000
FCX Issuer | Tax Year 2009 to Tax Year 2013 [Member] | Cerro Verde Royalty Dispute | Pending Litigation [Member]
Loss Contingencies [Line Items]
Loss Contingency, Estimate of Possible Loss		$ 206,000,000

CONTINGENCIES (Tax and Other Ma

CONTINGENCIES (Tax and Other Matters) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Mar. 31, 2016	Dec. 31, 2014
Income Tax Examination [Line Items]
Income Taxes Receivable, Noncurrent	$ 445,000,000	$ 129,000,000
Proceeds from Income Tax Refunds	329,000,000	247,000,000	$ 334,000,000
PT-FI
Income Tax Examination [Line Items]
Penalty and Interest Assessment	0
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority				$ (196,000,000)
Value Added Tax Receivable					$ 269,000,000
SUNAT | Cerro Verde
Income Tax Examination [Line Items]
Tax Assessment	253,000,000
Penalty and Interest Assessment	364,000,000
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority	617,000,000
Income Taxes Receivable, Noncurrent	288,000,000
Increase (Decrease) in Income Taxes Receivable	103,000,000
Indonesian Tax Authority | PT-FI
Income Tax Examination [Line Items]
Tax Assessment	795,000,000
Income Tax Examination, Interest Accrued	186,000,000
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority	981,000,000
2003 to 2005 | SUNAT | Cerro Verde
Income Tax Examination [Line Items]
Tax Assessment	16,000,000
Penalty and Interest Assessment	54,000,000
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority	70,000,000
2005 | Indonesian Tax Authority | PT-FI
Income Tax Examination [Line Items]
Tax Assessment	77,000,000
Income Tax Examination, Interest Accrued	37,000,000
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority	114,000,000
2005 | Indonesian Supreme Court [Member] | Maximum | PT-FI
Income Tax Examination [Line Items]
Loss Contingency, Estimate of Possible Loss	1,000,000
2006 | SUNAT | Cerro Verde
Income Tax Examination [Line Items]
Tax Assessment	7,000,000
Penalty and Interest Assessment	59,000,000
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority	66,000,000
2007 to 2008 | SUNAT | Cerro Verde
Income Tax Examination [Line Items]
Tax Assessment	33,000,000
Penalty and Interest Assessment	31,000,000
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority	64,000,000
2007 | Indonesian Tax Authority | PT-FI
Income Tax Examination [Line Items]
Tax Assessment	48,000,000
Income Tax Examination, Interest Accrued	24,000,000
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority	72,000,000
Tax Year, 2008, 2010 to Tax Year 2011 | Indonesian Tax Authority | PT-FI
Income Tax Examination [Line Items]
Tax Assessment	56,000,000
Income Tax Examination, Interest Accrued	37,000,000
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority	93,000,000
2009 | SUNAT | Cerro Verde
Income Tax Examination [Line Items]
Tax Assessment	59,000,000
Penalty and Interest Assessment	49,000,000
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority	108,000,000
2010 | SUNAT | Cerro Verde
Income Tax Examination [Line Items]
Tax Assessment	66,000,000
Penalty and Interest Assessment	107,000,000
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority	173,000,000
2012 | Indonesian Tax Authority | PT-FI
Income Tax Examination [Line Items]
Tax Assessment	125,000,000
Income Tax Examination, Interest Accrued	1,000,000
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority	126,000,000
2013 | Indonesian Tax Authority | PT-FI
Income Tax Examination [Line Items]
Tax Assessment	160,000,000
Income Tax Examination, Interest Accrued	80,000,000
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority	240,000,000
2014 | Indonesian Tax Authority | PT-FI
Income Tax Examination [Line Items]
Tax Assessment	160,000,000
Income Tax Examination, Interest Accrued	7,000,000
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority	167,000,000
2015 | Indonesian Tax Authority | PT-FI
Income Tax Examination [Line Items]
Tax Assessment	169,000,000
Income Tax Examination, Interest Accrued	0
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority	169,000,000
Relating to 2011 through 2015 | Tax Authority, In Papau, Indonesia | PT-FI
Income Tax Examination [Line Items]
Loss Contingency, Estimate of Possible Loss	400,000,000
Relating to 2011 through 2017 | Tax Authority, In Papau, Indonesia | PT-FI
Income Tax Examination [Line Items]
Loss Contingency, Estimate of Possible Loss	530,000,000
2011, 2014 to 2017 | SUNAT | Cerro Verde
Income Tax Examination [Line Items]
Tax Assessment	72,000,000
Penalty and Interest Assessment	64,000,000
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority	136,000,000
2016 to 2017 | Tax Authority, In Papau, Indonesia | PT-FI
Income Tax Examination [Line Items]
Loss Contingency, Estimate of Possible Loss	130,000,000
The year 2005 and the year 2007 [Member] | Indonesian Supreme Court [Member] | PT-FI
Income Tax Examination [Line Items]
Loss Contingency, Estimate of Possible Loss	66,000,000
Cerro Verde
Income Tax Examination [Line Items]
Income Taxes Receivable, Noncurrent	185,000,000	277,000,000
PT-FI
Income Tax Examination [Line Items]
Income Taxes Receivable, Noncurrent	417,000,000	$ 331,000,000
Penalties [Member] | Relating to 2011 through 2015 | Tax Authority, In Papau, Indonesia | PT-FI
Income Tax Examination [Line Items]
Loss Contingency, Estimate of Possible Loss	239,000,000
Penalties [Member] | 2016 to 2017 | Tax Authority, In Papau, Indonesia | PT-FI
Income Tax Examination [Line Items]
Loss Contingency, Estimate of Possible Loss	$ 65,000,000
Other Liabilities [Member] | PT-FI
Income Tax Examination [Line Items]
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority				$ (38,000,000)

CONTINGENCIES (Letters of Credi

CONTINGENCIES (Letters of Credit, Bank Guarantees and Surety Bonds) (Details) $ in Millions	Dec. 31, 2017USD ($)
Surety Bond
Guarantor Obligations [Line Items]
Guarantor obligations, carrying value	$ 326
Cerro Verde
Guarantor Obligations [Line Items]
Outstanding Standby Letters Of Credit	$ 283

CONTINGENCIES (Insurance) (Deta

CONTINGENCIES (Insurance) (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Self insurance reserve	$ 57
Self insurance reserve, current	10
Self insurance reserve, non-current	47	$ 51
Insurance Settlements Receivable	16
Insurance Settlements Receivable, Current	2
Insurance Settlements Receivable, Noncurrent	$ 14

COMMITMENTS AND GUARANTEES (Ope

COMMITMENTS AND GUARANTEES (Operating Leases) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Operating leases, future minimum payments due:
2,018	$ 34
2,019	24
2,020	20
2,021	18
2,022	17
Thereafter	95
Total aggregate rental expense under operating leases	$ 59	$ 71

COMMITMENTS AND GUARANTEES (Con

COMMITMENTS AND GUARANTEES (Contractual Obligations) (Details) $ in Millions	Dec. 31, 2017USD ($)
Unconditional purchase obligations [Line Items]
Unconditional purchase obligations	$ 3,400
2,018	2,400
2,019	537
2,020	91
2,021	92
2,022	35
Thereafter	270
Copper concentrates
Unconditional purchase obligations [Line Items]
Unconditional purchase obligations	2,400
Electricity
Unconditional purchase obligations [Line Items]
Unconditional purchase obligations	400
Transportation
Unconditional purchase obligations [Line Items]
Unconditional purchase obligations	300
Disposed of by Sale, Discontinued Operations | Tenke Fungurume mine | Transportation
Unconditional purchase obligations [Line Items]
Unconditional purchase obligations	$ 800

COMMITMENTS AND GUARANTEES (Min

COMMITMENTS AND GUARANTEES (Mining Contracts) (Details) T in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2017USD ($)T$ / lb	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014	Jul. 31, 2014
Contractual Obligations Mining Contracts [Line Items]
Progressive Export Duty on Copper Concentrates, Change, Percent	2.50%
Surety Bond
Contractual Obligations Mining Contracts [Line Items]
Assurance Bond, Smelter Development	$ 326
PT-FI
Contractual Obligations Mining Contracts [Line Items]
Number of Extention Periods Available Under Mining Contract	2
Period For Option To Extend Mining Contract	10 years
Gold And Silver Sales Royalty Rate	1.00%
Ore Delivery Commitments and Contracts Daily Production, Per Day | T	0.2
Progressive Export Duty on Copper Concentrates, Lower Threshold, Percent	5.00%			5.00%
Progressive Export Duty on Copper Concentrates, Higher Threshold, Percent	7.50%			7.50%
Restricted Cash and Cash Equivalents	$ 38
Smelter Development Progress, Lower Threshold, Percent	7.50%
Smelter Development Progress, Higher Threshold, Percent	30.00%
Royalty Expense	$ 173	$ 131	$ 114
Export Duties Expense	$ 115	$ 95	$ 109
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 and silver [Member]
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
Other Current Assets [Member] | PT-FI
Contractual Obligations Mining Contracts [Line Items]
Restricted Cash and Cash Equivalents	$ 22
Other Noncurrent Assets [Member] | PT-FI
Contractual Obligations Mining Contracts [Line Items]
Restricted Cash and Cash Equivalents	$ 16
PT-FI
Contractual Obligations Mining Contracts [Line Items]
Ownership percentage	81.28%
PT-FI | PT Indocopper Investama [Member]
Contractual Obligations Mining Contracts [Line Items]
Ownership percentage	9.36%

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, 2017	Jun. 30, 2016	Nov. 23, 2016	Aug. 04, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Other Commitments [Line Items]
Cost of sales							$ 12,022	$ 17,580	$ 27,415
Community Development Programs | PT-FI
Other Commitments [Line Items]
Cost of sales							$ 44	33	$ 27
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]
Stock Issued During Period, Shares, New Issues				48.1
Proceeds from Issuance of Common Stock, Gross				$ 540
Rowan Companies plc [Member] | Contract Termination [Member]
Other Commitments [Line Items]
Loss Contingency Accrual, Payments		$ 6	$ 0					215
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
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, 2017lboz$ / lb$ / lb$ / oz	Dec. 31, 2017USD ($)$ / lb$ / lb$ / oz	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Commodity Contract [Member]
Unrealized gains (losses):
Derivative financial instruments | $		$ 4	$ 16	$ (3)
Hedged item – firm sales commitments | $		(4)	(16)	3
Realized gains (losses):
Matured derivative financial instruments | $		$ 30	1	(34)
Commodity Contract [Member] | Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Nonmonetary Notional Amount, Mass | lb	41
Derivative, Average Forward Price	3.02	3.02
Embedded Derivative Financial Instruments [Member] | Derivatives Not Designated as Hedging Instruments [Member] | Amounts recorded in Sales [Member]
Realized gains (losses):
Matured derivative financial instruments | $		$ 515	266	(406)
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 | $		$ 0	(35)	87
Copper Forward Contracts [Member] | Derivatives Not Designated as Hedging Instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Nonmonetary Notional Amount, Mass | lb	4
Derivative, Average Forward Price	3.11	3.11
Copper Forward Contracts [Member] | Derivatives Not Designated as Hedging Instruments [Member] | Amounts recorded in Cost of Sales
Realized gains (losses):
Matured derivative financial instruments | $		$ (15)	$ 5	$ (15)
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	642
Derivative, Average Forward Price	3.06	3.06
Realized gains (losses):
Derivative Average Market Price	3.28	3.28
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	120
Derivative, Average Forward Price	3.02	3.02
Realized gains (losses):
Derivative Average Market Price	3.28	3.28
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	318
Derivative, Average Forward Price | $ / oz	1,269	1,269
Realized gains (losses):
Derivative Average Market Price | $ / oz	1,300	1,300
Cobalt | 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	6
Derivative, Average Forward Price	22.97	22.97
Realized gains (losses):
Derivative Average Market Price	26.81	26.81

FINANCIAL INSTRUMENTS (Unsettle

FINANCIAL INSTRUMENTS (Unsettled Derivatives) (Details) lb in Millions, bbl in Millions, MMBTU in Millions, $ in Millions	Dec. 31, 2017USD ($)lb	Dec. 31, 2020$ / bblbbl	Dec. 31, 2020MMBTU$ / bblbbl	Dec. 31, 2020$ / MMBTU	Dec. 31, 2016USD ($)
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 167				$ 146
Derivative Liability, Fair Value, Gross Liability	33				58
Derivative Liability, Fair Value, Gross Asset	1				14
Derivative Asset, Fair Value, Gross Liability	1				14
Derivative Asset	166				132
Derivative Liability	32				44
Trade accounts receivable [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset	151				119
Derivative Liability	0				13
Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset	11				7
Derivative Liability	0				0
Accounts Payable and Accrued Liabilities
Derivatives, Fair Value [Line Items]
Derivative Asset	4				6
Derivative Liability	32				31
Commodity Contract [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	12				9
Derivative Liability, Fair Value, Gross Liability	2				2
Derivative Liability, Fair Value, Gross Asset	1				2
Derivative Asset, Fair Value, Gross Liability	1				2
Derivative Asset	11				7
Derivative Liability	1				0
Embedded Derivative Financial Instruments [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	155				137
Derivative Liability, Fair Value, Gross Liability	31				56
Derivative Liability, Fair Value, Gross Asset	0				12
Derivative Asset, Fair Value, Gross Liability	0				12
Derivative Asset	155				125
Derivative Liability	31				44
Designated as Hedging Instrument [Member] | Commodity Contract [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 11				9
Derivative, Nonmonetary Notional Amount, Mass | lb	41
Derivatives Not Designated as Hedging Instruments [Member] | Embedded Derivative Financial Instruments [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 155				137
Derivative Liability, Fair Value, Gross Liability	$ 31				56
Derivatives Not Designated as Hedging Instruments [Member] | Forward Contracts [Member]
Derivatives, Fair Value [Line Items]
Derivative, Nonmonetary Notional Amount, Mass | lb	4
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
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Derivatives Not Designated as Hedging Instruments [Member] | Embedded Derivative Financial Instruments [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability	$ 24
Future [Member] | Derivatives Not Designated as Hedging Instruments [Member] | FMC's Copper Futures and Swap Contracts [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability	0				2
Commodity Contract [Member] | Derivatives Not Designated as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability	33				58
Commodity Contract [Member] | Derivatives Not Designated as Hedging Instruments [Member] | Forward Contracts [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability	2				0
Commodity Contract [Member] | Derivatives Not Designated as Hedging Instruments [Member] | Forward Contracts [Member] | Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 1				$ 0

FINANCIAL INSTRUMENTS (Derivati

FINANCIAL INSTRUMENTS (Derivative) (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 4,447	$ 4,245	$ 177	$ 298
Credit Derivative, Maximum Exposure, Undiscounted	166
Bank Time Deposits [Member]
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 2,900	$ 64

FAIR VALUE MEASUREMENT (Details

FAIR VALUE MEASUREMENT (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Other current assets	$ 270	$ 199
Other assets	2,270	1,956
Derivative Liability, Fair Value, Gross Liability	33	58
Derivatives:
Derivative Asset	166	132
Derivatives: [Abstract]
Derivative Liability	32	44
Level 1
Investment securities (current and long-term):
Available-for-sale Securities	5	27
Trust Assets Fair Value Disclosure	11	12
Derivatives:
Derivative Asset	9	8
Contingent receivable	0	0
Derivatives: [Abstract]
Derivative Liability	1	2
Discontinued Operation, Contingent Payable		0
Long-term debt, including current portion	0	0
Level 2
Investment securities (current and long-term):
Available-for-sale Securities	0	0
Trust Assets Fair Value Disclosure	123	118
Derivatives:
Derivative Asset	266	184
Contingent receivable	0	0
Derivatives: [Abstract]
Derivative Liability	32	56
Discontinued Operation, Contingent Payable		23
Long-term debt, including current portion	13,269	15,196
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	134	135
Derivatives: [Abstract]
Derivative Liability	0	0
Discontinued Operation, Contingent Payable		0
Long-term debt, including current portion	0	0
Carrying Amount, Fair Value Disclosure [Member]
Investment securities (current and long-term):
Available-for-sale Securities	30	50
Trust Assets Fair Value Disclosure	189	183
Derivatives:
Derivative Asset	275	192
Contingent receivable	150	150
Derivatives: [Abstract]
Derivative Liability	33	58
Discontinued Operation, Contingent Payable		23
Long-term debt, including current portion	13,117	16,027
Estimate of Fair Value Measurement [Member]
Investment securities (current and long-term):
Available-for-sale Securities	30	50
Trust Assets Fair Value Disclosure	189	183
Derivatives:
Derivative Asset	275	192
Contingent receivable	134	135
Derivatives: [Abstract]
Derivative Liability	33	58
Discontinued Operation, Contingent Payable		23
Long-term debt, including current portion	13,269	15,196
Embedded Derivative Financial Instruments [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Derivative Liability, Fair Value, Gross Liability	31	56
Derivatives:
Derivative Asset	155	125
Derivatives: [Abstract]
Derivative Liability	31	44
Embedded Derivative Financial Instruments [Member] | Level 1
Derivatives:
Derivative Asset	0	0
Derivatives: [Abstract]
Derivative Liability	0	0
Embedded Derivative Financial Instruments [Member] | Level 2
Derivatives:
Derivative Asset	155	137
Derivatives: [Abstract]
Derivative Liability	31	56
Embedded Derivative Financial Instruments [Member] | Level 3
Derivatives:
Derivative Asset	0	0
Derivatives: [Abstract]
Derivative Liability	0	0
Embedded Derivative Financial Instruments [Member] | Carrying Amount, Fair Value Disclosure [Member]
Derivatives:
Derivative Asset	155	137
Derivatives: [Abstract]
Derivative Liability	31	56
Embedded Derivative Financial Instruments [Member] | Estimate of Fair Value Measurement [Member]
Derivatives:
Derivative Asset	155	137
Derivatives: [Abstract]
Derivative Liability	31	56
Commodity Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Derivative Liability, Fair Value, Gross Liability	2	2
Derivatives:
Derivative Asset	11	7
Derivatives: [Abstract]
Derivative Liability	1	0
Commodity Contract [Member] | Level 1
Derivatives:
Derivative Asset		8
Derivatives: [Abstract]
Derivative Liability	1	2
Commodity Contract [Member] | Level 2
Derivatives:
Derivative Asset		1
Derivatives: [Abstract]
Derivative Liability	1	0
Commodity Contract [Member] | Level 3
Derivatives:
Derivative Asset		0
Derivatives: [Abstract]
Derivative Liability	0	0
Commodity Contract [Member] | Carrying Amount, Fair Value Disclosure [Member]
Derivatives:
Derivative Asset		9
Derivatives: [Abstract]
Derivative Liability	2	2
Commodity Contract [Member] | Estimate of Fair Value Measurement [Member]
Derivatives:
Derivative Asset		9
Derivatives: [Abstract]
Derivative Liability	2	2
Future [Member] | Level 1
Derivatives:
Derivative Asset	9
Future [Member] | Level 2
Derivatives:
Derivative Asset	2
Future [Member] | Level 3
Derivatives:
Derivative Asset	0
Future [Member] | Carrying Amount, Fair Value Disclosure [Member]
Derivatives:
Derivative Asset	11
Future [Member] | Estimate of Fair Value Measurement [Member]
Derivatives:
Derivative Asset	11
Forward Contracts [Member] | Level 1
Derivatives:
Derivative Asset	0
Forward Contracts [Member] | Level 2
Derivatives:
Derivative Asset	1
Forward Contracts [Member] | Level 3
Derivatives:
Derivative Asset	0
Forward Contracts [Member] | Carrying Amount, Fair Value Disclosure [Member]
Derivatives:
Derivative Asset	1
Forward Contracts [Member] | Estimate of Fair Value Measurement [Member]
Derivatives:
Derivative Asset	1
Africa and onshore California [Member] | Commodity Contract [Member] | Level 1
Derivatives:
Derivative Asset	0
Africa and onshore California [Member] | Commodity Contract [Member] | Level 2
Derivatives:
Derivative Asset	108
Africa and onshore California [Member] | Commodity Contract [Member] | Level 3
Derivatives:
Derivative Asset	0
Africa and onshore California [Member] | Commodity Contract [Member] | Carrying Amount, Fair Value Disclosure [Member]
Derivatives:
Derivative Asset	108	46
Africa and onshore California [Member] | Commodity Contract [Member] | Estimate of Fair Value Measurement [Member]
Derivatives:
Derivative Asset	108	46
Africa and onshore California [Member] | Forward Contracts [Member] | Level 1
Derivatives:
Derivative Asset		0
Africa and onshore California [Member] | Forward Contracts [Member] | Level 2
Derivatives:
Derivative Asset		46
Africa and onshore California [Member] | Forward Contracts [Member] | Level 3
Derivatives:
Derivative Asset		0
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	25	23
Trust Assets Fair Value Disclosure	55	53
U.S. core fixed income fund [Member] | Estimate of Fair Value Measurement [Member]
Investment securities (current and long-term):
Available-for-sale Securities	25	23
Trust Assets Fair Value Disclosure	55	53
Money market funds [Member] | Level 1
Investment securities (current and long-term):
Available-for-sale Securities		22
Trust Assets Fair Value Disclosure	11	12
Money market funds [Member] | Level 2
Investment securities (current and long-term):
Available-for-sale Securities		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
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
Trust Assets Fair Value Disclosure	11	12
Money market funds [Member] | Estimate of Fair Value Measurement [Member]
Investment securities (current and long-term):
Available-for-sale Securities		22
Trust Assets Fair Value Disclosure	11	12
Equity securities | Level 1
Investment securities (current and long-term):
Available-for-sale Securities	5	5
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	5
Equity securities | Estimate of Fair Value Measurement [Member]
Investment securities (current and long-term):
Available-for-sale Securities	5	5
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	40	36
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	40	36
Government bonds | Estimate of Fair Value Measurement [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	40	36
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	27	25
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	27	25
Government mortgage-backed securities [Member] | Estimate of Fair Value Measurement [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	27	25
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	32
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	32
Corporate bonds [Member] | Estimate of Fair Value Measurement [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	32	32
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	15	16
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	15	16
Asset-backed securities [Member] | Estimate of Fair Value Measurement [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	15	16
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	8
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	8
Collateralized Mortgage Backed Securities [Member] | Estimate of Fair Value Measurement [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	8	8
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
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	52	28
Other assets	123	122
Investment Securities [Member]
Investment securities (current and long-term):
Alternative Investment, Fair Value Disclosure	25	23
Investment Securities [Member] | U.S. core fixed income fund [Member]
Investment securities (current and long-term):
Alternative Investment, Fair Value Disclosure	25	23
Restricted Funds [Member]
Investment securities (current and long-term):
Alternative Investment, Fair Value Disclosure	55	53
Restricted Funds [Member] | U.S. core fixed income fund [Member]
Investment securities (current and long-term):
Alternative Investment, Fair Value Disclosure	55	53
Derivatives Not Designated as Hedging Instruments [Member] | Embedded Derivative Financial Instruments [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Derivative Liability, Fair Value, Gross Liability	31	56
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Estimate of Fair Value Measurement [Member]
Derivatives: [Abstract]
Long-term debt, including current portion	112	$ 98
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Derivatives Not Designated as Hedging Instruments [Member] | Embedded Derivative Financial Instruments [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Derivative Liability, Fair Value, Gross Liability	$ 24

FAIR VALUE MEASUREMENT FAIR VAL

FAIR VALUE MEASUREMENT FAIR VALUE MEASUREMENT (Unobservable inputs) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Net realized gains (losses)	$ 0	$ 0
Settlement receipts	0	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		0	$ 316
Net realized gains (losses)			86
Net unrealized gains (losses) related to assets still held at the end of the year			0
Settlement receipts			(402)
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis with Unobservable Inputs			0
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
Crude Oil Options [Member] | Interest Expense [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			(1)
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Settlement receipts			$ (4)
Gulf of Mexico Contingent Consideration [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Period Increase (Decrease)	(1)	135
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	$ 134	$ 135

BUSINESS SEGMENTS INFORMATIO110

BUSINESS SEGMENTS INFORMATION (Product Revenue) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Product revenue [Line Items]
Revenues	$ 5,041	$ 4,310	$ 3,711	$ 3,341	$ 4,377	$ 3,877	$ 3,334	$ 3,242	$ 16,403	$ 14,830	$ 14,607
Treatment and refining charges included in copper concentrates revenues									536	652	485
Copper in concentrate
Product revenue [Line Items]
Revenues									5,373	4,502	2,927
Rod, and other refined copper products
Product revenue [Line Items]
Revenues									2,272	1,963	2,481
Copper Cathode
Product revenue [Line Items]
Revenues									4,557	3,925	4,159
Gold
Product revenue [Line Items]
Revenues									2,032	1,512	1,540
Molybdenum
Product revenue [Line Items]
Revenues									889	651	783
Oil
Product revenue [Line Items]
Revenues									73	1,304	1,694
Other
Product revenue [Line Items]
Revenues									$ 1,207	$ 973	$ 1,023

BUSINESS SEGMENTS INFORMATIO111

BUSINESS SEGMENTS INFORMATION (Long Lived Assets by Geographic Area) (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Long Lived assets by geographic area of customer [Line Items]
Long-lived assets	$ 26,213	$ 26,574	$ 38,795
Assets held for sale			4,400
Indonesia
Long Lived assets by geographic area of customer [Line Items]
Long-lived assets	8,938	8,794	7,701
U.S.
Long Lived assets by geographic area of customer [Line Items]
Long-lived assets	8,312	8,282	16,569
Peru
Long Lived assets by geographic area of customer [Line Items]
Long-lived assets	7,485	7,981	8,432
Chile
Long Lived assets by geographic area of customer [Line Items]
Long-lived assets	1,221	1,269	1,387
Other
Long Lived assets by geographic area of customer [Line Items]
Long-lived assets	$ 257	$ 248	$ 4,706

BUSINESS SEGMENTS INFORMATIO112

BUSINESS SEGMENTS INFORMATION (Revenues by Geographic Area of Customer) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Revenues by geographic area of customer [Line Items]
Revenues	$ 5,041	$ 4,310	$ 3,711	$ 3,341	$ 4,377	$ 3,877	$ 3,334	$ 3,242	$ 16,403	$ 14,830	$ 14,607
U.S.
Revenues by geographic area of customer [Line Items]
Revenues									5,344	5,896	6,842
Indonesia
Revenues by geographic area of customer [Line Items]
Revenues									2,023	1,402	1,054
Japan
Revenues by geographic area of customer [Line Items]
Revenues									1,882	1,350	1,246
Switzerland
Revenues by geographic area of customer [Line Items]
Revenues									1,200	1,147	618
China
Revenues by geographic area of customer [Line Items]
Revenues									1,136	1,125	688
Spain
Revenues by geographic area of customer [Line Items]
Revenues									1,086	878	960
India
Revenues by geographic area of customer [Line Items]
Revenues									782	553	532
PHILIPPINES
Revenues by geographic area of customer [Line Items]
Revenues									378	261	169
Korea
Revenues by geographic area of customer [Line Items]
Revenues									364	219	177
Chile
Revenues by geographic area of customer [Line Items]
Revenues									248	250	397
BERMUDA
Revenues by geographic area of customer [Line Items]
Revenues									226	273	159
UNITED KINGDOM
Revenues by geographic area of customer [Line Items]
Revenues									226	204	83
Other
Revenues by geographic area of customer [Line Items]
Revenues									$ 1,508	$ 1,272	$ 1,682

BUSINESS SEGMENTS INFORMATIO113

BUSINESS SEGMENTS INFORMATION (Customers and Labor Matters) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Major Customer and Labor Matters [Line Items]
Segment Reporting, Disclosure of Major Customers									0.12
Revenues	$ 5,041	$ 4,310	$ 3,711	$ 3,341	$ 4,377	$ 3,877	$ 3,334	$ 3,242	$ 16,403	$ 14,830	$ 14,607
Affiliated Entity | Noncontrolling Interest Owners Of South America Mining Operations
Major Customer and Labor Matters [Line Items]
Revenues									1,100	1,000	1,000
Affiliated Entity | PT Smelting
Major Customer and Labor Matters [Line Items]
Revenues									2,000	1,400	1,100
Indonesia
Major Customer and Labor Matters [Line Items]
Revenues									$ 2,023	$ 1,402	$ 1,054

BUSINESS SEGMENTS INFORMATIO114

BUSINESS SEGMENTS INFORMATION (Business Segments Narrative) (Details)	12 Months Ended
	Dec. 31, 2017
Workforce Subject to Collective Bargaining Arrangements
Mining Segment Reporting Information [Line Items]
Concentration risk percentage	40.00%
Workforce Subject to Collective Bargaining Arrangements Expiring within One Year
Mining Segment Reporting Information [Line Items]
Concentration risk percentage	15.00%
North America | Inventory, Copper Metal Production | Product Concentration Risk | Morenci
Mining Segment Reporting Information [Line Items]
Concentration risk percentage	49.00%
North America | Cost of Goods, Product Line | Supplier Concentration Risk | Atlantic Copper Smelting & Refining
Mining Segment Reporting Information [Line Items]
Concentration risk percentage	18.00%
South America | Inventory, Copper Metal Production | Product Concentration Risk | Cerro Verde
Mining Segment Reporting Information [Line Items]
Concentration risk percentage	86.00%
South America | Cost of Goods, Product Line | Supplier Concentration Risk | Atlantic Copper Smelting & Refining
Mining Segment Reporting Information [Line Items]
Concentration risk percentage	15.00%
PT Smelting
Mining Segment Reporting Information [Line Items]
Deferred intercompany profit	25.00%
Morenci
Mining Segment Reporting Information [Line Items]
Ownership percentage	72.00%

BUSINESS SEGMENTS INFORMATIO115

BUSINESS SEGMENTS INFORMATION (Segment Reporting) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Revenues	$ 5,041	$ 4,310	$ 3,711	$ 3,341	$ 4,377	$ 3,877	$ 3,334	$ 3,242	$ 16,403	$ 14,830	$ 14,607
Production and delivery									10,300	10,697	10,693
Depreciation, depletion and amortization									1,714	2,530	3,240
Impairment of oil and gas properties						200	300	3,800	0	4,317	13,144
Metals inventory adjustments									8	36	338
Selling, general and administrative expenses									484	607	558
Mining exploration and research expenses									94	64	107
Environmental obligations and shutdown costs									251	20	78
Net gain on sales of assets	(15)	(33)	(10)	(23)	113	(13)	(749)		(81)	(649)	(39)
Operating income (loss)	1,467	$ 917	$ 669	$ 580	703	$ 359	$ 18	$ (3,872)	3,633	(2,792)	(13,512)
Interest expense, net									801	755	617
Provision for (benefit from) income taxes									883	371	(1,951)
Total assets	37,302				37,317				37,302	37,317	46,577
Payments to Acquire Productive Assets									1,410	2,813	6,353
Restructuring and asset impairment charges											(145)
Tax Cuts and Jobs Act of 2017, Incomplete Accounting, Provisional Income Tax Expense (Benefit)									(393)	0	0
Assets held for sale	598				344				598	344
Grasberg Segment [Member]
Segment Reporting Information [Line Items]
Payments to Acquire Productive Assets									875	1,025	901
Molybdenum
Segment Reporting Information [Line Items]
Payments to Acquire Productive Assets									5	2	13
South America
Segment Reporting Information [Line Items]
Payments to Acquire Productive Assets									115	382	1,722
North America copper mines
Segment Reporting Information [Line Items]
Payments to Acquire Productive Assets									167	102	355
Indonesia
Segment Reporting Information [Line Items]
Revenues									2,023	1,402	1,054
Operating Segments | Molybdenum Segment [Member]
Segment Reporting Information [Line Items]
Metals inventory adjustments									1
Operating Segments | Molybdenum
Segment Reporting Information [Line Items]
Revenues									0	0	0
Production and delivery									229	199	312
Depreciation, depletion and amortization									76	68	97
Impairment of oil and gas properties										0	0
Metals inventory adjustments										15	11
Selling, general and administrative expenses									0	0	0
Mining exploration and research expenses									0	0	0
Environmental obligations and shutdown costs									0	0	0
Net gain on sales of assets									0	0	0
Operating income (loss)									(38)	(96)	(72)
Interest expense, net									0	0	0
Provision for (benefit from) income taxes									0	0	0
Total assets	1,858				1,934				1,858	1,934	1,999
Payments to Acquire Productive Assets									5	2	13
Operating Segments | Rod & Refining
Segment Reporting Information [Line Items]
Revenues									4,456	3,833	4,125
Production and delivery									4,470	3,836	4,129
Depreciation, depletion and amortization									10	10	9
Impairment of oil and gas properties										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
Net gain on sales of assets									0	0	0
Operating income (loss)									2	16	16
Interest expense, net									0	0	0
Provision for (benefit from) income taxes									0	0	0
Total assets	277				220				277	220	219
Payments to Acquire Productive Assets									4	1	4
Restructuring and asset impairment charges											(3)
Operating Segments | Atlantic Copper Smelting & Refining
Segment Reporting Information [Line Items]
Revenues									2,031	1,825	1,955
Production and delivery									1,966	1,712	1,848
Depreciation, depletion and amortization									28	29	39
Impairment of oil and gas properties										0	0
Metals inventory adjustments									0	0	0
Selling, general and administrative expenses									18	17	16
Mining exploration and research expenses									0	0	0
Environmental obligations and shutdown costs									0	0	0
Net gain on sales of assets									0	0	0
Operating income (loss)									20	72	67
Interest expense, net									18	15	10
Provision for (benefit from) income taxes									5	9	4
Total assets	822				658				822	658	612
Payments to Acquire Productive Assets									41	17	23
Operating Segments | North America
Segment Reporting Information [Line Items]
Revenues									408	684	909
Production and delivery									2,767	2,932	3,799
Depreciation, depletion and amortization									425	530	560
Impairment of oil and gas properties										0	0
Metals inventory adjustments										1	142
Selling, general and administrative expenses									4	5	6
Mining exploration and research expenses									2	3	7
Environmental obligations and shutdown costs									0	0	3
Net gain on sales of assets									0	(576)	(39)
Operating income (loss)									1,365	1,479	648
Interest expense, net									4	4	4
Provision for (benefit from) income taxes									0	0	0
Total assets	7,102				7,311				7,102	7,311	8,445
Payments to Acquire Productive Assets									167	102	355
Operating Segments | North America | Morenci
Segment Reporting Information [Line Items]
Revenues									228	444	558
Production and delivery									1,052	1,169	1,523
Depreciation, depletion and amortization									178	217	217
Impairment of oil and gas properties										0	0
Metals inventory adjustments										0	0
Selling, general and administrative expenses									2	2	3
Mining exploration and research expenses									0	0	0
Environmental obligations and shutdown costs									0	0	0
Net gain on sales of assets									0	(576)	0
Operating income (loss)									861	1,143	461
Interest expense, net									3	3	2
Provision for (benefit from) income taxes									0	0	0
Total assets	2,861				2,863				2,861	2,863	3,567
Payments to Acquire Productive Assets									114	77	253
Operating Segments | North America | Other
Segment Reporting Information [Line Items]
Revenues									180	240	351
Production and delivery									1,715	1,763	2,276
Depreciation, depletion and amortization									247	313	343
Impairment of oil and gas properties										0	0
Metals inventory adjustments											142
Selling, general and administrative expenses									2	3	3
Mining exploration and research expenses									2	3	7
Environmental obligations and shutdown costs									0	0	3
Net gain on sales of assets									0	0	(39)
Operating income (loss)									504	336	187
Interest expense, net									1	1	2
Provision for (benefit from) income taxes									0	0	0
Total assets	4,241				4,448				4,241	4,448	4,878
Payments to Acquire Productive Assets									53	25	102
Restructuring and asset impairment charges											(99)
Operating Segments | North America | Morenci North America Copper Mines Segment [Member]
Segment Reporting Information [Line Items]
Metals inventory adjustments									0
Operating Segments | North America | Other Mines North America Copper Mines Segment [Member]
Segment Reporting Information [Line Items]
Metals inventory adjustments									2	1
Operating Segments | North America | North America copper mines
Segment Reporting Information [Line Items]
Metals inventory adjustments									2
Operating Segments | South America
Segment Reporting Information [Line Items]
Revenues									3,309	2,751	1,873
Production and delivery									2,244	1,758	1,438
Depreciation, depletion and amortization									525	553	352
Impairment of oil and gas properties										0	0
Metals inventory adjustments										0	73
Selling, general and administrative expenses									9	9	4
Mining exploration and research expenses									0	0	0
Environmental obligations and shutdown costs									0	0	0
Net gain on sales of assets									0	0	0
Operating income (loss)									916	618	67
Interest expense, net									212	82	16
Provision for (benefit from) income taxes									446	216	4
Total assets	10,580				10,609				10,580	10,609	11,106
Payments to Acquire Productive Assets									115	382	1,722
Restructuring and asset impairment charges											(13)
Operating Segments | South America | Cerro Verde
Segment Reporting Information [Line Items]
Revenues									2,811	2,241	1,065
Production and delivery									1,878	1,351	815
Depreciation, depletion and amortization									441	443	219
Impairment of oil and gas properties										0	0
Metals inventory adjustments										0	0
Selling, general and administrative expenses									9	8	3
Mining exploration and research expenses									0	0	0
Environmental obligations and shutdown costs									0	0	0
Net gain on sales of assets									0	0	0
Operating income (loss)									868	626	96
Interest expense, net									212	82	16
Provision for (benefit from) income taxes									436	222	13
Total assets	8,878				9,076				8,878	9,076	9,445
Payments to Acquire Productive Assets									103	380	1,674
Operating Segments | South America | Other
Segment Reporting Information [Line Items]
Revenues									498	510	808
Production and delivery									366	407	623
Depreciation, depletion and amortization									84	110	133
Impairment of oil and gas properties										0	0
Metals inventory adjustments										0	73
Selling, general and administrative expenses									0	1	1
Mining exploration and research expenses									0	0	0
Environmental obligations and shutdown costs									0	0	0
Net gain on sales of assets									0	0	0
Operating income (loss)									48	(8)	(29)
Interest expense, net									0	0	0
Provision for (benefit from) income taxes									10	(6)	(9)
Total assets	1,702				1,533				1,702	1,533	1,661
Payments to Acquire Productive Assets									12	2	48
Operating Segments | South America | South America
Segment Reporting Information [Line Items]
Metals inventory adjustments									0
Operating Segments | South America | Cerro Verde South America Segment [Member]
Segment Reporting Information [Line Items]
Metals inventory adjustments									0
Operating Segments | South America | Other Mines South America Segment [Member]
Segment Reporting Information [Line Items]
Metals inventory adjustments									0
Operating Segments | Indonesia | Grasberg Segment [Member]
Segment Reporting Information [Line Items]
Revenues									4,445	3,233	2,617
Production and delivery									1,743	1,794	1,808
Depreciation, depletion and amortization									556	384	293
Impairment of oil and gas properties										0	0
Metals inventory adjustments									0	0	0
Selling, general and administrative expenses									126	90	103
Mining exploration and research expenses									0	0	0
Environmental obligations and shutdown costs									0	0	0
Net gain on sales of assets									0	0	0
Operating income (loss)									2,020	1,027	449
Interest expense, net									4	0	0
Provision for (benefit from) income taxes									869	442	195
Total assets	10,911				10,493				10,911	10,493	9,306
Payments to Acquire Productive Assets									875	1,025	901
Corporate And Eliminations [Member]
Segment Reporting Information [Line Items]
Revenues									1,754	2,504	3,128
Production and delivery									(3,119)	(1,534)	(2,641)
Depreciation, depletion and amortization									94	956	1,890
Impairment of oil and gas properties										4,317	13,144
Metals inventory adjustments									5	20	112
Selling, general and administrative expenses									327	486	429
Mining exploration and research expenses									92	61	100
Environmental obligations and shutdown costs									251	20	75
Net gain on sales of assets									(81)	(73)	0
Operating income (loss)									(652)	(5,908)	(14,687)
Interest expense, net									563	654	587
Provision for (benefit from) income taxes									(437)	(296)	(2,154)
Total assets	5,752				6,092				5,752	6,092	14,890
Payments to Acquire Productive Assets									203	1,284	3,335
Restructuring and asset impairment charges											(23)
Corporate And Eliminations [Member] | U.S. Oil & Gas Operations
Segment Reporting Information [Line Items]
Total assets	$ 271				$ 467				271	467
Gain (loss) on energy contracts										(35)	87
Oil and Gas drillship settlements, idle rig credits (costs) and inventory adjustments										1,000
Charges at oil and gas operations, before tax											188
Restructuring charges										(85)
Capital expenditures										1,200
Other Mining & Eliminations
Segment Reporting Information [Line Items]
Assets, discontinued operations											4,900
Capital expenditures										73	229
Intersegment
Segment Reporting Information [Line Items]
Revenues									0	0	0
Intersegment | Molybdenum
Segment Reporting Information [Line Items]
Revenues									268	186	348
Restructuring and asset impairment charges											(7)
Intersegment | Rod & Refining
Segment Reporting Information [Line Items]
Revenues									26	29	29
Intersegment | Atlantic Copper Smelting & Refining
Segment Reporting Information [Line Items]
Revenues									1	5	15
Intersegment | Corporate And Eliminations [Member]
Segment Reporting Information [Line Items]
Revenues									(4,837)	(4,159)	(4,706)
Intersegment | North America
Segment Reporting Information [Line Items]
Revenues									4,157	3,690	4,217
Intersegment | North America | Morenci
Segment Reporting Information [Line Items]
Revenues									1,865	1,511	1,646
Intersegment | North America | Other
Segment Reporting Information [Line Items]
Revenues									2,292	2,179	2,571
Intersegment | South America
Segment Reporting Information [Line Items]
Revenues									385	187	61
Intersegment | South America | Cerro Verde
Segment Reporting Information [Line Items]
Revenues									385	187	68
Intersegment | South America | Other
Segment Reporting Information [Line Items]
Revenues									0	0	(7)
Intersegment | Indonesia | Grasberg Segment [Member]
Segment Reporting Information [Line Items]
Revenues									0	$ 62	$ 36
One-time Termination Benefits | Grasberg Segment [Member]
Segment Reporting Information [Line Items]
Production and delivery									120
Selling, general and administrative expenses									5
Operating income (loss)									(125)
Cerro Verde Royalty Dispute | Royalty Assessments | Cerro Verde
Segment Reporting Information [Line Items]
Production and delivery									203
Interest expense, net									145
Provision for (benefit from) income taxes									7
Cerro Verde Royalty Dispute | Royalty Assessments | Operating Segments | South America | Cerro Verde
Segment Reporting Information [Line Items]
Production and delivery									203
Interest expense, net									$ 145

GUARANTOR FINANCIAL STATEMEN116

GUARANTOR FINANCIAL STATEMENTS (Details)	Dec. 31, 2017
FM O&G LLC Guarantor
Condensed Financial Statements, Captions [Line Items]
Ownership percentage of subsidiary	100.00%

GUARANTOR FINANCIAL STATEMEN117

GUARANTOR FINANCIAL STATEMENTS (Condensed Consolidating Balance Sheet) (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
ASSETS
Assets, Current	$ 10,779	$ 10,435
Current assets held for sale	598	344
Property, plant, equipment and mine development costs, net	22,836	23,219
Oil and gas properties, net - full cost method:
Oil and gas properties subject to amortization, less accumulated amortization and impairments	8	74
Investments in consolidated subsidiaries	0	0
Other assets	3,679	3,589
Assets held for sale			$ 4,400
Total assets	37,302	37,317	46,577
LIABILITIES AND EQUITY
Liabilities, Current	5,038	4,265
Current liabilities held for sale	350	205
Long-term debt, less current portion	11,703	14,795
Deferred income taxes	3,622	3,768
Environmental and asset retirement obligations, less current portion	3,631	3,487
Investments in consolidated subsidiary	0	0
Other Liabilities, Noncurrent	2,012	1,745
Total liabilities	26,006	28,060
Equity:
Stockholders' equity	7,977	6,051
Noncontrolling interests	3,319	3,206
Total equity	11,296	9,257	$ 12,044	$ 22,474
Total liabilities and equity	37,302	37,317
Eliminations
ASSETS
Assets, Current	(790)	(3,260)
Property, plant, equipment and mine development costs, net	(10)	0
Oil and gas properties, net - full cost method:
Oil and gas properties subject to amortization, less accumulated amortization and impairments	0	0
Investments in consolidated subsidiaries	(19,570)	(21,110)
Other assets	(491)	(1,965)
Total assets	(20,861)	(26,335)
LIABILITIES AND EQUITY
Liabilities, Current	(938)	(3,244)
Long-term debt, less current portion	(10,270)	(15,081)
Deferred income taxes	0	0
Environmental and asset retirement obligations, less current portion	0	0
Investments in consolidated subsidiary	(11,250)	(9,888)
Other Liabilities, Noncurrent	(3,488)	(3,487)
Total liabilities	(25,946)	(31,700)
Equity:
Stockholders' equity	4,480	4,758
Noncontrolling interests	605	607
Total equity	5,085	5,365
Total liabilities and equity	(20,861)	(26,335)
FCX Issuer | Reportable Legal Entities
ASSETS
Assets, Current	75	230
Property, plant, equipment and mine development costs, net	14	19
Oil and gas properties, net - full cost method:
Oil and gas properties subject to amortization, less accumulated amortization and impairments	0	0
Investments in consolidated subsidiaries	19,570	21,110
Other assets	943	1,985
Total assets	20,602	23,344
LIABILITIES AND EQUITY
Liabilities, Current	1,683	3,895
Long-term debt, less current portion	10,021	12,517
Deferred income taxes	748	826
Environmental and asset retirement obligations, less current portion	0	0
Investments in consolidated subsidiary	0	0
Other Liabilities, Noncurrent	173	55
Total liabilities	12,625	17,293
Equity:
Stockholders' equity	7,977	6,051
Noncontrolling interests	0	0
Total equity	7,977	6,051
Total liabilities and equity	20,602	23,344
FM O&G LLC Guarantor | Reportable Legal Entities
ASSETS
Assets, Current	671	1,790
Property, plant, equipment and mine development costs, net	11	24
Oil and gas properties, net - full cost method:
Oil and gas properties subject to amortization, less accumulated amortization and impairments	0	0
Investments in consolidated subsidiaries	0	0
Other assets	48	47
Total assets	730	1,861
LIABILITIES AND EQUITY
Liabilities, Current	220	308
Long-term debt, less current portion	6,512	6,062
Deferred income taxes	0	0
Environmental and asset retirement obligations, less current portion	201	200
Investments in consolidated subsidiary	853	893
Other Liabilities, Noncurrent	3,340	3,393
Total liabilities	11,126	10,856
Equity:
Stockholders' equity	(10,396)	(8,995)
Noncontrolling interests	0	0
Total equity	(10,396)	(8,995)
Total liabilities and equity	730	1,861
Non-Guarantor Subsidiaries | Reportable Legal Entities
ASSETS
Assets, Current	10,823	11,675
Property, plant, equipment and mine development costs, net	22,821	23,176
Oil and gas properties, net - full cost method:
Oil and gas properties subject to amortization, less accumulated amortization and impairments	8	74
Investments in consolidated subsidiaries	0	0
Other assets	3,179	3,522
Total assets	36,831	38,447
LIABILITIES AND EQUITY
Liabilities, Current	4,073	3,306
Long-term debt, less current portion	5,440	11,297
Deferred income taxes	2,874	2,942
Environmental and asset retirement obligations, less current portion	3,430	3,287
Investments in consolidated subsidiary	10,397	8,995
Other Liabilities, Noncurrent	1,987	1,784
Total liabilities	28,201	31,611
Equity:
Stockholders' equity	5,916	4,237
Noncontrolling interests	2,714	2,599
Total equity	8,630	6,836
Total liabilities and equity	$ 36,831	$ 38,447

GUARANTOR FINANCIAL STATEMEN118

GUARANTOR FINANCIAL STATEMENTS (Condensed Consolidating Comprehensive (Loss) Income) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Condensed Comprehensive (Loss) Income Statements [Line Items]
Revenues	$ 5,041	$ 4,310	$ 3,711	$ 3,341	$ 4,377	$ 3,877	$ 3,334	$ 3,242	$ 16,403	$ 14,830	$ 14,607
Costs and Expenses									12,770	17,622	28,119
Operating income (loss)	1,467	917	669	580	703	359	18	(3,872)	3,633	(2,792)	(13,512)
Interest expense, net									(801)	(755)	(617)
Nonoperating Income (Expense)									49	49
Other income, net									49	49	1
Net gain on early extinguishment and exchanges of debt									21	26	0
(Loss) income before income taxes and equity in affiliated companies' net (losses) earnings									2,902	(3,472)	(14,128)
Benefit from (provision for) income taxes									(883)	(371)	1,951
Equity in affiliated companies’ net earnings (losses)									10	11	(3)
Net income (loss) from continuing operations	1,193	242	326	268	202	292	(229)	(4,097)	2,029	(3,832)	(12,180)
Net income (loss) from discontinued operations	16	3	9	38	(2)	(6)	(181)	(4)	66	(193)	91
Net income (loss)	1,209	245	335	306	200	286	(410)	(4,101)	2,095	(4,025)	(12,089)
Income (Loss) From Continuing Operations Attributable to Noncontrolling Entity and Preferred Dividends									274	66	68
Net income (loss) attributable to noncontrolling interests: Discontinued Operations	0	0	1	3	19	22	12	10	4	63	79
Net (loss) income attributable to common stockholders	$ 1,041	$ 280	$ 268	$ 228	$ 292	$ 217	$ (479)	$ (4,184)	1,817	(4,154)	(12,236)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent									61	(45)	41
Total comprehensive income (loss)									1,878	(4,199)	(12,195)
Eliminations
Condensed Comprehensive (Loss) Income Statements [Line Items]
Revenues									0	0	0
Costs and Expenses									10	10	(11)
Operating income (loss)									(10)	(10)	11
Interest expense, net									348	333	152
Nonoperating Income (Expense)									(348)	(292)
Other income, net											(139)
Net gain on early extinguishment and exchanges of debt									0	0
(Loss) income before income taxes and equity in affiliated companies' net (losses) earnings									(10)	31	24
Benefit from (provision for) income taxes									3	(12)	(9)
Equity in affiliated companies’ net earnings (losses)									(1,408)	9,511	31,496
Net income (loss) from continuing operations									(1,415)	9,530	31,511
Net income (loss) from discontinued operations									0	(39)	0
Net income (loss)									(1,415)	9,491	31,511
Income (Loss) From Continuing Operations Attributable to Noncontrolling Entity and Preferred Dividends									124	66	33
Net income (loss) attributable to noncontrolling interests: Discontinued Operations									0	0	0
Net (loss) income attributable to common stockholders									(1,539)	9,425	31,478
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent									(61)	45	(41)
Total comprehensive income (loss)									(1,600)	9,470	31,437
FCX Issuer
Condensed Comprehensive (Loss) Income Statements [Line Items]
Net gain on early extinguishment and exchanges of debt										26
FCX Issuer | Reportable Legal Entities
Condensed Comprehensive (Loss) Income Statements [Line Items]
Revenues									0	0	0
Costs and Expenses									42	75	60
Operating income (loss)									(42)	(75)	(60)
Interest expense, net									(467)	(534)	(489)
Nonoperating Income (Expense)									339	271
Other income, net											225
Net gain on early extinguishment and exchanges of debt									22
(Loss) income before income taxes and equity in affiliated companies' net (losses) earnings									(148)	(312)	(324)
Benefit from (provision for) income taxes									220	(2,233)	(3,227)
Equity in affiliated companies’ net earnings (losses)									1,745	(1,609)	(8,685)
Net income (loss) from continuing operations									1,817	(4,154)	(12,236)
Net income (loss) from discontinued operations									0	0	0
Net income (loss)									1,817	(4,154)	(12,236)
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									1,817	(4,154)	(12,236)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent									61	(45)	41
Total comprehensive income (loss)									1,878	(4,199)	(12,195)
FM O&G LLC Guarantor
Condensed Comprehensive (Loss) Income Statements [Line Items]
Impairment of oil and gas properties										1,500	4,200
FM O&G LLC Guarantor | Reportable Legal Entities
Condensed Comprehensive (Loss) Income Statements [Line Items]
Revenues									52	379	613
Costs and Expenses									78	3,074	5,150
Operating income (loss)									(26)	(2,695)	(4,537)
Interest expense, net									(227)	(56)	(8)
Nonoperating Income (Expense)									0	0
Other income, net											1
Net gain on early extinguishment and exchanges of debt									5	0
(Loss) income before income taxes and equity in affiliated companies' net (losses) earnings									(248)	(2,751)	(4,544)
Benefit from (provision for) income taxes									(108)	1,053	1,718
Equity in affiliated companies’ net earnings (losses)									10	(3,101)	(9,976)
Net income (loss) from continuing operations									(346)	(4,799)	(12,802)
Net income (loss) from discontinued operations									0	0	0
Net income (loss)									(346)	(4,799)	(12,802)
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									(346)	(4,799)	(12,802)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent									0	0	0
Total comprehensive income (loss)									(346)	(4,799)	(12,802)
Non-Guarantor Subsidiaries
Condensed Comprehensive (Loss) Income Statements [Line Items]
Impairment of oil and gas properties										2,800	8,900
Non-Guarantor Subsidiaries | Reportable Legal Entities
Condensed Comprehensive (Loss) Income Statements [Line Items]
Revenues									16,351	14,451	13,994
Costs and Expenses									12,640	14,463	22,920
Operating income (loss)									3,711	(12)	(8,926)
Interest expense, net									(455)	(498)	(272)
Nonoperating Income (Expense)									58	70
Other income, net											(86)
Net gain on early extinguishment and exchanges of debt									(6)	0
(Loss) income before income taxes and equity in affiliated companies' net (losses) earnings									3,308	(440)	(9,284)
Benefit from (provision for) income taxes									(998)	821	3,469
Equity in affiliated companies’ net earnings (losses)									(337)	(4,790)	(12,838)
Net income (loss) from continuing operations									1,973	(4,409)	(18,653)
Net income (loss) from discontinued operations									66	(154)	91
Net income (loss)									2,039	(4,563)	(18,562)
Income (Loss) From Continuing Operations Attributable to Noncontrolling Entity and Preferred Dividends									150	0	35
Net income (loss) attributable to noncontrolling interests: Discontinued Operations									4	63	79
Net (loss) income attributable to common stockholders									1,885	(4,626)	(18,676)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent									61	(45)	41
Total comprehensive income (loss)									$ 1,946	$ (4,671)	$ (18,635)

GUARANTOR FINANCIAL STATEMEN119

GUARANTOR FINANCIAL STATEMENTS (Condensed Consolidated Cash Flow Statement) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash flow from operating activities:
Net income (loss)	$ 1,209	$ 245	$ 335	$ 306	$ 200	$ 286	$ (410)	$ (4,101)	$ 2,095	$ (4,025)	$ (12,089)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, depletion and amortization									1,714	2,610	3,497
Impairment of Oil and Gas Properties						$ 200	$ 300	3,800	0	4,317	13,144
Net gain on sales of assets									(81)	(649)	(39)
Metals inventory adjustments									8	36	338
Equity in affiliated companies’ net earnings (losses)									10	11	(3)
Mining asset impairments and restructuring									40	20	119
Net cash (used in) provided by operating activities									4,682	3,729	3,220
Cash flow from investing activities:
Capital expenditures									(1,410)	(2,813)	(6,353)
Intercompany loans									0	0	0
Dividends from (investments in) consolidated subsidiaries									0	0	(2)
Proceeds From Divestiture Of Business And Interests In Affiliates And Proceeds From Sale Of Other Assets									47
Other, net										(6,363)	109
Net cash provided by (used in) investing activities									(1,363)	3,550	(6,246)
Cash flow from financing activities:
Proceeds from debt									955	3,681	8,272
Repayments of debt									(3,812)	(7,625)	(6,677)
Intercompany loans									0	0	0
Net proceeds from sale of common stock									0	1,515	1,936
Cash dividends paid and distributions received, net									(176)	(699)	(725)
Other, net									(22)	(38)	(20)
Net cash (used in) provided by financing activities									(3,055)	(3,166)	2,786
Net increase in cash and cash equivalents									264	4,113	(240)
(Increase) decrease in cash and cash equivalents in assets held for sale									(62)	(45)	119
Cash and cash equivalents at beginning of year				4,245				177	4,245	177	298
Cash and cash equivalents at end of year	4,447				4,245				4,447	4,245	177
Reportable Legal Entities | FCX Issuer
Cash flow from operating activities:
Net income (loss)									1,817	(4,154)	(12,236)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Equity in affiliated companies’ net earnings (losses)									1,745	(1,609)	(8,685)
Net cash (used in) provided by operating activities									(156)	(137)	(167)
Cash flow from investing activities:
Capital expenditures									0	0	(7)
Intercompany loans									(777)	481	(1,812)
Dividends from (investments in) consolidated subsidiaries									3,226	1,469	852
Proceeds From Divestiture Of Business And Interests In Affiliates And Proceeds From Sale Of Other Assets									0
Other, net										(2)	(21)
Net cash provided by (used in) investing activities									2,449	1,952	(988)
Cash flow from financing activities:
Proceeds from debt									0	1,721	4,503
Repayments of debt									(2,281)	(5,011)	(4,660)
Intercompany loans									0	0	0
Net proceeds from sale of common stock										1,515	1,936
Cash dividends paid and distributions received, net									(2)	(6)	(605)
Other, net									(10)	(34)	(19)
Net cash (used in) provided by financing activities									(2,293)	(1,815)	1,155
Net increase 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
Cash and cash equivalents at end of year	0				0				0	0	0
Reportable Legal Entities | FM O&G LLC Guarantor
Cash flow from operating activities:
Net income (loss)									(346)	(4,799)	(12,802)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Equity in affiliated companies’ net earnings (losses)									10	(3,101)	(9,976)
Net cash (used in) provided by operating activities									(467)	(271)	262
Cash flow from investing activities:
Capital expenditures									(25)	(567)	(847)
Intercompany loans									0	(346)	(1,310)
Dividends from (investments in) consolidated subsidiaries									(15)	(45)	(71)
Proceeds From Divestiture Of Business And Interests In Affiliates And Proceeds From Sale Of Other Assets									57
Other, net										(1,673)	(2)
Net cash provided by (used in) investing activities									17	715	(2,230)
Cash flow from financing activities:
Proceeds from debt									0	0	0
Repayments of debt									(205)	0	0
Intercompany loans									663	(332)	2,038
Net proceeds from sale of common stock										0	0
Cash dividends paid and distributions received, net									0	(107)	0
Other, net									(10)	(3)	(71)
Net cash (used in) provided by financing activities									448	(442)	1,967
Net increase in cash and cash equivalents									(2)	2	(1)
(Increase) decrease in cash and cash equivalents in assets held for sale									0	0	0
Cash and cash equivalents at beginning of year				2				0	2	0	1
Cash and cash equivalents at end of year	0				2				0	2	0
Reportable Legal Entities | Non-Guarantor Subsidiaries
Cash flow from operating activities:
Net income (loss)									2,039	(4,563)	(18,562)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Equity in affiliated companies’ net earnings (losses)									(337)	(4,790)	(12,838)
Net cash (used in) provided by operating activities									5,305	4,135	3,112
Cash flow from investing activities:
Capital expenditures									(1,385)	(2,248)	(5,486)
Intercompany loans									0	0	0
Dividends from (investments in) consolidated subsidiaries									120	176	130
Proceeds From Divestiture Of Business And Interests In Affiliates And Proceeds From Sale Of Other Assets									(10)
Other, net										(4,692)	111
Net cash provided by (used in) investing activities									(1,275)	2,620	(5,245)
Cash flow from financing activities:
Proceeds from debt									955	1,960	3,769
Repayments of debt									(1,326)	(2,614)	(2,017)
Intercompany loans									114	197	1,084
Net proceeds from sale of common stock										3,388	0
Cash dividends paid and distributions received, net									(3,440)	(5,555)	(924)
Other, net									(67)	(20)	(18)
Net cash (used in) provided by financing activities									(3,764)	(2,644)	1,894
Net increase in cash and cash equivalents									266	4,111	(239)
(Increase) decrease in cash and cash equivalents in assets held for sale									(62)	(45)	119
Cash and cash equivalents at beginning of year				4,243				177	4,243	177	297
Cash and cash equivalents at end of year	4,447				4,243				4,447	4,243	177
Eliminations
Cash flow from operating activities:
Net income (loss)									(1,415)	9,491	31,511
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Equity in affiliated companies’ net earnings (losses)									(1,408)	9,511	31,496
Net cash (used in) provided by operating activities									0	2	13
Cash flow from investing activities:
Capital expenditures									0	2	(13)
Intercompany loans									777	(135)	3,122
Dividends from (investments in) consolidated subsidiaries									(3,331)	(1,600)	(913)
Proceeds From Divestiture Of Business And Interests In Affiliates And Proceeds From Sale Of Other Assets									0
Other, net										4	21
Net cash provided by (used in) investing activities									(2,554)	(1,737)	2,217
Cash flow from financing activities:
Proceeds from debt									0	0	0
Repayments of debt									0	0	0
Intercompany loans									(777)	135	(3,122)
Net proceeds from sale of common stock										(3,388)	0
Cash dividends paid and distributions received, net									3,266	4,969	804
Other, net									65	19	88
Net cash (used in) provided by financing activities									2,554	1,735	(2,230)
Net increase 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
Cash and cash equivalents at end of year	$ 0				$ 0				$ 0	$ 0	$ 0

SUBSEQUENT EVENTS Subsequent Ev

SUBSEQUENT EVENTS Subsequent Events (Details)	Feb. 06, 2018$ / shares
Subsequent Event [Member]
Subsequent Event [Line Items]
AuthorizedQuarterlyRateOfCommonStockDividend	$ 0.05

QUARTERLY FINANCIAL INFORMAT121

QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Quarterly Disclosures) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 5,041	$ 4,310	$ 3,711	$ 3,341	$ 4,377	$ 3,877	$ 3,334	$ 3,242	$ 16,403	$ 14,830	$ 14,607
Operating income (loss)	1,467	917	669	580	703	359	18	(3,872)	3,633	(2,792)	(13,512)
Net (loss) income from continuing operations	1,193	242	326	268	202	292	(229)	(4,097)	2,029	(3,832)	(12,180)
Net income (loss) from discontinued operations	16	3	9	38	(2)	(6)	(181)	(4)	66	(193)	91
Net income	1,209	245	335	306	200	286	(410)	(4,101)	2,095	(4,025)	(12,089)
Net loss (income) and preferred dividends attributable to noncontrolling interests	(168)	35	(66)	(75)	111	(47)	(57)	(73)	(274)	(66)
Net income from discontinued operations attributable to noncontrolling interests	0	0	(1)	(3)	(19)	(22)	(12)	(10)	(4)	(63)	(79)
Net income (loss) attributable to common stockholders	$ 1,041	$ 280	$ 268	$ 228	$ 292	$ 217	$ (479)	$ (4,184)	$ 1,817	$ (4,154)	$ (12,236)
Continuing operations (in dollars per share)					$ 0.22	$ 0.18	$ (0.23)	$ (3.34)	$ 1.21	$ (2.96)	$ (11.32)
Discontinued operations (in dollars per share)	$ 0.01	$ 0	$ 0	$ 0.03	(0.01)	(0.02)	(0.15)	(0.01)	0.04	(0.20)	0.01
Earnings Per Share, Diluted	$ 0.71	$ 0.19	$ 0.18	$ 0.16					1.25
Earnings per share, basic and diluted (in dollars per share)					$ 0.21	$ 0.16	$ (0.38)	$ (3.35)	$ 1.25	$ (3.16)	$ (11.31)
Weighted Average Number of Shares Outstanding, Basic	1,448,000,000	1,448,000,000	1,447,000,000	1,446,000,000	1,403,000,000	1,346,000,000	1,269,000,000	1,251,000,000	1,447,000,000	1,318,000,000	1,082,000,000
Weighted Average Number of Shares Outstanding, Diluted	1,455,000,000	1,454,000,000	1,453,000,000	1,454,000,000	1,410,000,000	1,351,000,000	1,269,000,000	1,251,000,000	1,454,000,000	1,318,000,000	1,082,000,000

QUARTERLY FINANCIAL INFORMAT122

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, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Schedule of Quarterly Financial Information [Line Items]
Earnings Per Share, Basic		$ 0.72
Earnings Per Share, Diluted		$ 0.71	$ 0.19	$ 0.18	$ 0.16					$ 1.25
Weighted Average Number of Shares Outstanding, Diluted		1,455,000,000	1,454,000,000	1,453,000,000	1,454,000,000	1,410,000,000	1,351,000,000	1,269,000,000	1,251,000,000	1,454,000,000	1,318,000,000	1,082,000,000
Net (loss) income attributable to common stockholders		$ (1,041)	$ (280)	$ (268)	$ (228)	$ (292)	$ (217)	$ 479	$ 4,184	$ (1,817)	$ 4,154	$ 12,236
Continuing operations (in dollars per share)						$ 0.22	$ 0.18	$ (0.23)	$ (3.34)	$ 1.21	$ (2.96)	$ (11.32)
Income (Loss) from Continuing Operations, Per Basic Share		$ 0.71
Income (Loss) from Continuing Operations, Per Diluted Share		$ 0.70	$ 0.19	$ 0.18	$ 0.13					$ 1.21
Production and delivery										$ 10,300	$ 10,697	$ 10,693
Interest expense, net										(801)	(755)	(617)
Provision for (benefit from) income taxes										883	371	(1,951)
Net income from continuing operations attributable to noncontrolling interests										(274)	(227)	(27)
Operating income (loss)		$ 1,467	$ 917	$ 669	$ 580	$ 703	$ 359	$ 18	$ (3,872)	3,633	(2,792)	(13,512)
Environmental obligations and shutdown costs		157	64	(30)	19					210
Net gain on sales of assets		15	33	10	23	(113)	13	749		81	649	39
Net tax credits to net income attributable to common stockholders										$ 438
Earnings per share attributable to common stockholders related to Tax Reform (usd per share)										$ 0.30
Provisional net tax benefits associated with Tax Reform										$ 393	0	0
Impairment of oil and gas properties							200	300	3,800	$ 0	$ 4,317	$ 13,144
Impairment of oil and gas properties (usd per share)											$ 3.28
Oil and Gas Idle rig costs, inventory adjustments, asset impairments and other						142	50	729	$ 201		$ 1,100
Oil and Gas Idle Rig Costs, Inventory Adjustments, Asset Impairments and Other, Amount per Share											$ 0.84
Net gains on sales of assets (usd per share)										$ 0.06	$ 0.49
TF Holdings Limited | Disposed of by Sale, Discontinued Operations
Schedule of Quarterly Financial Information [Line Items]
Gain (loss) on disposal of discontinued operations						16	(5)	(177)			$ 198
Earnings per share related to disposal of discontinued operations (usd per share)											$ 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
Gain (Loss) on Disposition of Stock in Subsidiary or Equity Method Investee, Amount Per Share											$ 0.15
Cerro Verde Royalty Dispute | Royalty Assessments | Cerro Verde
Schedule of Quarterly Financial Information [Line Items]
Continuing operations (in dollars per share)										$ 0
Production and delivery										$ 203
Interest expense, net										(145)
Provision for (benefit from) income taxes										7
Net income from continuing operations attributable to noncontrolling interests										$ 169
One-time Termination Benefits | Grasberg Segment [Member]
Schedule of Quarterly Financial Information [Line Items]
Continuing operations (in dollars per share)										$ 0.04
Production and delivery										$ 120
Net income from continuing operations attributable to noncontrolling interests										66
Operating income (loss)										$ (125)
One-time Termination Benefits | Grasberg Segment [Member] | Operating Income (Loss)
Schedule of Quarterly Financial Information [Line Items]
Production and delivery		$ (8)	$ (9)	$ (87)	$ (21)
Alternative minimum tax credits, changes to valuation allowances and net loss carryback [Member]
Schedule of Quarterly Financial Information [Line Items]
Continuing operations (in dollars per share)										$ 0.28
Net tax credits to net income attributable to common stockholders						$ 84	$ 332	$ (42)		$ 374
Site Remediation, Reclamation and Closure Costs
Schedule of Quarterly Financial Information [Line Items]
Continuing operations (in dollars per share)										$ 0.14
Judicial Ruling | Cerro Verde Royalty Dispute | Unfavorable Regulatory Actions
Schedule of Quarterly Financial Information [Line Items]
Loss Contingency, Loss In Period, Attributable To Parent										$ 186

SUPPLEMENTARY MINERAL RESERV123

SUPPLEMENTARY MINERAL RESERVE INFORMATION (UNAUDITED) (Details) oz in Millions, lb in Millions	Dec. 31, 2017USD ($)lboz$ / lb
Copper
Estimated Recoverable Proven And Probable Reserves | lb	103,700
Long Term Average Price Used To Estimate Recoverable Reserves	$ 2
Three Year Average Price | $ / lb	2.50
Gold
Estimated Recoverable Proven And Probable Reserves | oz	34.2
Long Term Average Price Used To Estimate Recoverable Reserves	$ 1,000
Three Year Average Price | $ / lb	1,223
Molybdenum
Estimated Recoverable Proven And Probable Reserves | lb	2,880
Long Term Average Price Used To Estimate Recoverable Reserves	$ 10
Three Year Average Price | $ / lb	7.12
Silver
Long Term Average Price Used To Estimate Recoverable Reserves	$ 15

SUPPLEMENTARY MINERAL RESERV124

SUPPLEMENTARY MINERAL RESERVE INFORMATION (UNAUDITED) (Recoverable Reserves) (Details) oz in Millions, lb in Millions	Dec. 31, 2017USD ($)lboz
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated recoverable proven and probable copper reserves in leach stockpiles (in pounds)	2,100
Estimated recoverable proven and probable copper reserves in mill stockpiles (in pounds)	700
Copper
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	103,700
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	34.2
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	2,880
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	71,300
Net Equity Interest [Member] | Gold (ounces) [Member]
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	21.3
Net Equity Interest [Member] | Molybdenum mines
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	2,560
Net Equity Interest [Member] | Silver
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	218.2
Consolidated Basis [Member] | Copper
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	86,700
Consolidated Basis [Member] | Copper | North America
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	33,500
Consolidated Basis [Member] | Copper | South America
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	28,100
Consolidated Basis [Member] | Copper | Indonesia
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	25,100
Consolidated Basis [Member] | Gold (ounces) [Member]
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	23.5
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	23.2
Consolidated Basis [Member] | Molybdenum mines
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	2,840
Consolidated Basis [Member] | Molybdenum mines | North America
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	2,220
Consolidated Basis [Member] | Molybdenum mines | South America
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	620
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	273.4

SUPPLEMENTARY MINERAL RESERV125

SUPPLEMENTARY MINERAL RESERVE INFORMATION (UNAUDITED) (Ore Reserves) (Details) oz in Millions, lb in Millions, T in Millions	Dec. 31, 2017lbozTg
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Amount of ore reserves (in metric tons of ore) | T	13,867
Copper
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	103,700
Copper | Consolidated Basis [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	86,700
Copper | Net Equity Interest [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	71,300
Gold
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	34.2
Gold | Consolidated Basis [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	23.5
Gold | Net Equity Interest [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	21.3
Molybdenum
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	2,880
Molybdenum | Consolidated Basis [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	2,840
Molybdenum | Net Equity Interest [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	2,560
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	3,134
Average ore grade of copper per metric ton	0.26%
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	11,800
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	140
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	1,405
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	0.02%
Bagdad [Member] | Copper | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	7,500
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	662
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%
Safford [Member] | Copper | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	5,000
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	2,245
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	0.03%
Sierrita [Member] | Copper | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	9,900
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	1,010
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	9
Average ore grade of copper per metric ton	0.42%
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	100
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	276
Average ore grade of copper per metric ton	0.46%
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	2,400
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	74
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	240
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	160
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	500
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	3,577
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	25,600
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	620
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	394
Average ore grade of copper per metric ton	0.44%
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	2,500
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	34
Average ore grade of copper per metric ton	1.29%
Average ore grade of gold per metric ton (in grams per metric ton) | g	2.64
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	1,100
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	2.7
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	79
Average ore grade of copper per metric ton	0.54%
Average ore grade of gold per metric ton (in grams per metric ton) | g	0.76
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	900
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	1.6
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	58
Average ore grade of copper per metric ton	2.22%
Average ore grade of gold per metric ton (in grams per metric ton) | g	0.93
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	1.2
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	963
Average ore grade of copper per metric ton	1.01%
Average ore grade of gold per metric ton (in grams per metric ton) | g	0.72
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	18,100
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	14.5
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	360
Average ore grade of copper per metric ton	1.25%
Average ore grade of gold per metric ton (in grams per metric ton) | g	1.07
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	8,400
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	5.4
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	437
Average ore grade of copper per metric ton	0.91%
Average ore grade of gold per metric ton (in grams per metric ton) | g	0.76
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	7,700
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	8.5
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 IN126

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
Property acquisition costs:
Unproved properties	$ 7	$ 61
Exploration costs	22	1,250
Development costs	749	1,442
Total	778	2,753
Asset Retirement Obligation, Period Increase (Decrease)	37	(80)
United States oil and gas operations
Property acquisition costs:
General and Administrative Costs Capitalized	78	124
Capitalized interest	$ 7	$ 58

SUPPLEMENTARY OIL AND GAS IN127

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 ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)$ / Boe	Dec. 31, 2015USD ($)$ / Boe
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
Properties subject to amortization					$ 27,507	$ 24,538
Accumulated amortizationa					(27,433)	(22,276)
Total					74	2,262
Impairment of Oil and Gas Properties	$ 200	$ 300	$ 3,800	$ 0	$ 4,317	$ 13,144
Average Depletion Depreciation and Amortization Expense Per Unit of Production | $ / Boe					17.58	33.46

SUPPLEMENTARY OIL AND GAS IN128

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 IN129

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, 2017	Dec. 31, 2016	Dec. 31, 2015
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
Revenues from oil and gas producing activities					$ 1,513	$ 1,994
Production and delivery costs					(1,829)	(1,215)
Depreciation, depletion and amortization					(839)	(1,772)
Impairment of Oil and Gas Properties	$ (200)	$ (300)	$ (3,800)	$ 0	(4,317)	(13,144)
Income tax benefit (based on FCX's U.S. federal statutory tax rate)					0	5,368
Results of operations from oil and gas producing activities					(5,472)	$ (8,769)
Oil and Gas Drillship settlements/Idle rig and Contract termination costs					$ 926

SUPPLEMENTARY OIL AND GAS IN130

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, ft³ in Billions	12 Months Ended
	Dec. 31, 2016Boe$ / bbl$ / Mcfbblft³	Dec. 31, 2015Boe$ / bbl$ / Mcfbblft³	Dec. 31, 2014bblft³
Proved Developed and Undeveloped Reserve (Energy) [Roll Forward]
Balance at beginning of year (Energy) | Boe	252,000,000	390,000,000
Extensions and discoveries (Energy) | Boe	0	17,000,000
Acquisitions of reserves in-place (Energy) | Boe	0	0
Revisions of previous estimates (Energy) | Boe	1,000,000	(102,000,000)
Sales of reserves in-place (Energy) | Boe	187,000,000	0
Production (Energy) | Boe	48,000,000	53,000,000
Balance at end of year (Energy) | Boe	18,000,000	252,000,000
Proved developed reserves (Energy) | Boe	18,000,000	169,000,000
Proved undeveloped reserves (Energy) | Boe	0	83,000,000
Gulf of Mexico [Member]
Proved Developed and Undeveloped Reserve (Energy) [Roll Forward]
Extensions and discoveries (Energy) | Boe		14,000,000
Haynesville
Proved Developed and Undeveloped Reserve (Energy) [Roll Forward]
Extensions and discoveries (Energy) | Boe		3,000,000
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
Natural Gas Liquids [Member]
Proved reserves:
Balance at beginning of year	1	9
Balance at end of year	1	9
Proved developed reserves		6
Proved undeveloped reserves		3
Oil [Member]
Proved reserves:
Balance at beginning of year	4	207	288
Proved Developed and Undeveloped Reserves, Extensions, Discoveries, and Additions	0	11
Proved Developed and Undeveloped Reserves, Purchases of Minerals in Place	0	0
Proved Developed and Undeveloped Reserves, Revisions of Previous Estimates	1	(54)
Sale of reserves in-place	(168)	0
Production	(36)	(38)
Balance at end of year	4	207	288
Proved developed reserves	4	129
Proved undeveloped reserves	0	78
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
Proved Developed and Undeveloped Reserves, Extensions, Discoveries, and Additions | ft³	0	43
Proved Developed and Undeveloped Reserves, Purchases of Minerals in Place | ft³	0	0
Proved Developed and Undeveloped Reserves, Revisions of Previous Estimates | ft³	0	(287)
Sale of reserves in-place | ft³	(118)	(2)
Production | ft³	(69)	(90)
Balance at end of year | ft³	87	274	610
Proved developed reserves | ft³	87	245
Proved undeveloped reserves | ft³	0	29
Proved Developed and Undeveloped Reserve (Energy) [Roll Forward]
Realized Sales Prices Used in Reserve Reports | $ / Mcf	2.40	2.55

SUPPLEMENTARY OIL AND GAS IN131

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, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves [Line Items]
Future cash inflows		$ 345	$ 10,536
Future production expense		(175)	(4,768)
Future development costs		(439)	(4,130)
Future income tax expense		0	0
Future net cash flows		(269)	1,638
Discounted at 10% per year		32	(246)
Standardized Measure		(237)	1,392	$ 6,421
Asset Retirement Obligation	$ 2,580	2,635	2,771	$ 2,744
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

SUPPLEMENTARY OIL AND GAS IN132

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
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
Sales, net of production expenses	(831)	(928)
Net changes in sales and transfer prices, net of production expenses	(341)	(7,766)
Extensions, discoveries and improved recoveries	0	45
Changes in estimated future development costs, including timing and other	146	1,287
Previously estimated development costs incurred during the year	295	985
Sales of reserves in-place	(1,049)	0
Revisions of quantity estimates	12	(1,170)
Accretion of discount	139	797
Net change in income taxes	0	1,721
Total changes	(1,629)	(5,029)
Balance at end of year	$ (237)	$ 1,392

SCHEDULE II - VALUATION AND 133

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Valuation and Qualifying Accounts Disclosure [Line Items]
Decrease associated with reduction in corporate income Tax Reform	$ 1,100
Movement in Valuation Allowances and Reserves [Roll Forward]
Reversal of valuation allowance for minimum tax credit carryforwords due to Tax Reform	371
Valuation allowance for deferred tax assets
Valuation and Qualifying Accounts Disclosure [Line Items]
Valuation Allowances and Reserves, Deductions	(1,484)
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	6,058	$ 4,183	$ 2,434
Additions Charged to Cost and Expense		1,852	1,749
Additons Charged to Other Accounts	1	23	0
Other Additions (Deductions)	0	0	0
Balance at End of Year	4,575	6,058	4,183
Reserve for Taxes, Other than Income Taxes [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Valuation Allowances and Reserves, Deductions	(2)	(3)
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	64	83	93
Additions Charged to Cost and Expense		13	9
Additons Charged to Other Accounts	0		0
Other Additions (Deductions)	(4)	(29)	(19)
Balance at End of Year	$ 58	$ 64	$ 83

Uncategorized Items - fcx-20171

Label	Element	Value
Morenci [Member]
Proceeds from Divestiture of Businesses and Interests in Affiliates	us-gaap_ProceedsFromDivestitureOfBusinessesAndInterestsInAffiliates	$ 996,000,000