Freeport-McMoRan (FCX) 10-Q 6 Nov 19 2019 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2019	Oct. 31, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
Document Transition Report	false
Entity File Number	001-11307-01
Entity Registrant Name	Freeport-McMoRan Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	74-2480931
Entity Address, Address Line One	333 North Central Avenue
Entity Address, City or Town	Phoenix
Entity Address, State or Province	AZ
Entity Address, Postal Zip Code	85004-2189
City Area Code	(602)
Local Phone Number	366-8100
Title of 12(b) Security	Common Stock, par value $0.10 per share
Trading Symbol	FCX
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		1,450,913,690
Entity Central Index Key	0000831259
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 2,247	$ 4,217
Trade accounts receivable	731	829
Income and other tax receivables	263	493
Inventories:
Total materials and supplies, net	1,619	1,528
Mill and leach stockpiles	1,302	1,453
Product	1,513	1,778
Other current assets	672	422
Total current assets	8,347	10,720
Property, plant, equipment and mine development costs, net	29,330	28,010
Long-term mill and leach stockpiles	1,300	1,314
Other assets	1,966	2,172
Total assets	40,943	42,216
Current liabilities:
Accounts payable and accrued liabilities	2,755	2,625
Accrued income taxes	61	165
Current portion of environmental and asset retirement obligations	488	449
Dividends Payable, Current	73	73
Current portion of debt	4	17
Total current liabilities	3,381	3,329
Long-term debt, less current portion	9,915	11,124
Deferred income taxes	4,245	4,032
Environmental and asset retirement obligations, less current portion	3,558	3,609
Other liabilities	2,302	2,230
Total liabilities	23,401	24,324
Stockholders’ equity:
Common stock	158	158
Capital in excess of par value	25,880	26,013
Accumulated deficit	(12,289)	(12,041)
Accumulated other comprehensive loss	(570)	(605)
Common stock held in treasury	(3,735)	(3,727)
Total stockholders’ equity	9,444	9,798
Noncontrolling interests	8,098	8,094
Total equity	17,542	17,892
Total liabilities and equity	$ 40,943	$ 42,216

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement [Abstract]
Revenues	$ 3,153	$ 4,908	$ 10,491	$ 14,944
Cost of sales:
Production and delivery	2,665	3,069	8,584	8,790
Depreciation, depletion and amortization	322	458	1,021	1,351
Metals inventory adjustments	41	0	100	2
Total cost of sales	3,028	3,527	9,705	10,143
Selling, general and administrative expenses	106	101	315	341
Mining exploration and research expenses	25	27	83	72
Environmental obligations and shutdown costs	20	8	85	76
Net loss (gain) on sales of assets	12	(70)	(13)	(126)
Total costs and expenses	3,191	3,593	10,175	10,506
Operating (loss) income	(38)	1,315	316	4,438
Interest expense, net	(123)	(143)	(401)	(436)
Net (loss) gain on early extinguishment of debt	(21)	0	(27)	8
Other income, net	33	14	52	63
(Loss) income from continuing operations before income taxes and equity in affiliated companies’ net earnings	(149)	1,186	(60)	4,073
Provision for income taxes	(91)	(522)	(181)	(1,543)
Equity in affiliated companies’ net earnings	5	4	7	5
Net (loss) income from continuing operations	(235)	668	(234)	2,535
Net income (loss) from discontinued operations	1	(4)	2	(19)
Net income	(234)	664	(232)	2,516
Net (income) loss attributable to noncontrolling interests:
Continuing operations	27	(108)	(16)	(399)
Net (loss) income attributable to common stockholders	$ (207)	$ 556	$ (248)	$ 2,117
Earnings Per Share, Basic and Diluted [Abstract]
Continuing operations (in dollars per share)	$ (0.15)	$ 0.38	$ (0.17)	$ 1.47
Discontinued operations (in dollars per share)	0	0	0	(0.01)
Earnings per share, basic (in dollars per share)	(0.15)	0.38	(0.17)	1.46
Continuing operations (in dollars per share)	(0.15)	0.38	(0.17)	1.46
Discontinued operations (in dollars per share)	0	0	0	(0.01)
Earnings per share, diluted (in dollars per share)	$ (0.15)	$ 0.38	$ (0.17)	$ 1.45
Basic weighted-average shares of common stock outstanding	1,452	1,450	1,451	1,449
Diluted weighted-average shares of common shares outstanding	1,452	1,458	1,451	1,458
Dividends declared per share of common stock (in dollars per share)	$ 0.05	$ 0.05	$ 0.15	$ 0.15

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (234)	$ 664	$ (232)	$ 2,516
Defined benefit plans:
Amortization of unrecognized amounts included in net periodic benefit costs	11	13	35	36
Foreign exchange losses	0	(1)	0	(2)
Other comprehensive income	11	12	35	34
Total comprehensive (loss) income	(223)	676	(197)	2,550
Total comprehensive loss (income) attributable to noncontrolling interests	28	(109)	(16)	(399)
Total comprehensive income (loss)	$ (195)	$ 567	$ (213)	$ 2,151

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash flow from operating activities:
Net (loss) income	$ (232)	$ 2,516
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation, depletion and amortization	1,021	1,351
Metals inventory adjustments	100	2
Stock-based compensation	52	70
Net charges for environmental and asset retirement obligations, including accretion	160	206
Payments for environmental and asset retirement obligations	(164)	(179)
Net charges for defined pension and postretirement plans	79	59
Pension plan contributions	(58)	(60)
Net loss (gain) on early extinguishment of debt	27	(8)
Deferred income taxes	71	202
(Income) loss on disposal of discontinued operations	(2)	19
Dividends received from PT Smelting		0
Change in long-term mill and leach stockpiles	(5)	54
Gain (Loss) on Disposition of Assets	13	126
Other, net	22	5
Changes in working capital and other tax payments:
Accounts receivable	210	321
Inventories	229	(326)
Other current assets	15	(16)
Accounts payable and accrued liabilities	(45)	(2)
Accrued income taxes and timing of other tax payments	(285)	(131)
Net cash provided by operating activities	1,312	3,925
Cash flow from investing activities:
Capital expenditures	(1,917)	(1,391)
Proceeds from Sale of Other Assets, Investing Activities	102	10
Intangible water rights and other, net	(10)	(91)
Net cash used in investing activities	(1,825)	(1,472)
Cash flow from financing activities:
Proceeds from debt	1,681	475
Repayments of debt	(2,917)	(2,410)
Cash dividends and distributions paid:
Common stock	(218)	(145)
Noncontrolling interests	(79)	(241)
Contributions from noncontrolling interests	133	0
Stock-based awards net (payments) proceeds	(7)	4
Debt financing costs and other, net	(23)	(23)
Net cash used in financing activities	(1,430)	(2,340)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	(1,943)	113
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year	4,455	4,710
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	2,512	4,823
North America Copper Mines Segment [Member]
Cash flow from investing activities:
Capital expenditures	(641)	(413)
South America Mines Segment [Member]
Cash flow from investing activities:
Capital expenditures	(176)	(188)
Grasberg Segment [Member]
Cash flow from investing activities:
Capital expenditures	(992)	(695)
Molybdenum [Member]
Cash flow from investing activities:
Capital expenditures	(11)	(6)
Other Segments [Member]
Cash flow from investing activities:
Capital expenditures	(97)	(89)
Surface Water Taxes, Papua, Indonesia
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Charges for Cerro Verde royalty dispute	28	0
PT Freeport Indonesia Export Duty Dispute [Member]
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Charges for Cerro Verde royalty dispute	155	0
Cerro Verde Royalty Dispute
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Charges for Cerro Verde royalty dispute	40	0
Payments for Cerro Verde royalty dispute	(126)	$ (32)
PT Smelting
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Dividends received from PT Smelting	$ 33

Consolidated Statement of Equit

Consolidated Statement of Equity (Unaudited) - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Capital in Excess of Par Value	Accumulated Deficit	AOCI Attributable to Parent [Member]	Common Stock Held in Treasury	Total Stockholder's Equity	Noncontrolling Interests
Contributions from noncontrolling interest	$ 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]
Exercised and issued stock-based awards (in shares)		1
Exercised and issued stock-based awards	8		8				8
Stock-based compensation, including the tender of shares	59		62			$ (3)	59
Dividends	(459)		(218)				(218)	(241)
Net loss attributable to common stockholders	2,117			2,117			2,117
Net income (loss) attributable to noncontrolling interests	399							399
Other comprehensive income	34				34		34	0
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	2,550
Balance (in shares) at Sep. 30, 2018		1,579				130
Balance at Sep. 30, 2018	13,454	$ 158	26,603	(12,526)	(532)	$ (3,726)	9,977	3,477
Balance (in shares) at Jun. 30, 2018		1,579				130
Balance at Jun. 30, 2018	12,842	$ 158	26,667	(13,161)	(464)	$ (3,726)	9,474	3,368
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation, including the tender of shares	9		9				9
Dividends	(73)		(73)				(73)	0
Net loss attributable to common stockholders	556			556			556
Net income (loss) attributable to noncontrolling interests	108							108
Other comprehensive income	12				11		11	1
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	676
Balance (in shares) at Sep. 30, 2018		1,579				130
Balance at Sep. 30, 2018	13,454	$ 158	26,603	(12,526)	(532)	$ (3,726)	9,977	3,477
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative Effect of New Accounting Principle in Period of Adoption				79	(79)
Contributions from noncontrolling interest	133		65				65	68
Balance (in shares) at Dec. 31, 2018		1,579				130
Balance at Dec. 31, 2018	17,892	$ 158	26,013	(12,041)	(605)	$ (3,727)	9,798	8,094
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercised and issued stock-based awards (in shares)		3
Exercised and issued stock-based awards	1	$ 0	1	0	0	0	1	0
Stock-based compensation, including the tender of shares	35	0	42	0	0	$ (8)	34	1
Stock-based compensation, including the tender of shares (in shares)						1
Dividends	(288)		(218)	0		$ 0	(218)	(70)
Adjustments to Additional Paid in Capital, Other	(22)		(22)				(22)
Net loss attributable to common stockholders	(248)	$ 0		(248)		$ 0	(248)
Noncontrolling Interest, Change in Redemption Value			0	0	0
Tender of shares for stock based awards shares		0				0
Adjustment to Additional Paid in Capital, Income Tax Effect from Share-based Compensation, Net			0		0
Net income (loss) attributable to noncontrolling interests	16	$ 0				$ 0		16
Other comprehensive income	35	$ 0	0		35		35	0
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	(197)			0
Balance (in shares) at Sep. 30, 2019		1,582				131
Balance at Sep. 30, 2019	17,542	$ 158	25,880	(12,289)	(570)	$ (3,735)	9,444	8,098
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Noncontrolling Interest, Period Increase (Decrease)	(12)		(1)				(1)	(11)
Contributions from noncontrolling interest	33		16				16	17
Balance (in shares) at Jun. 30, 2019		1,582				131
Balance at Jun. 30, 2019	17,817	$ 158	25,949	(12,082)	(582)	$ (3,734)	9,709	8,108
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation, including the tender of shares	9		9			$ (1)	8	1
Dividends	(72)		(72)				(72)
Adjustments to Additional Paid in Capital, Other	(22)		(22)				(22)
Net loss attributable to common stockholders	(207)			(207)			(207)
Net income (loss) attributable to noncontrolling interests	(27)							(27)
Other comprehensive income	11				12		12	(1)
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	(223)
Balance (in shares) at Sep. 30, 2019		1,582				131
Balance at Sep. 30, 2019	$ 17,542	$ 158	$ 25,880	$ (12,289)	$ (570)	$ (3,735)	$ 9,444	$ 8,098

General Information (Unaudited)

General Information (Unaudited)	9 Months Ended
	Sep. 30, 2019
General Information [Abstract]
General Information	GENERAL INFORMATION The accompanying unaudited consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and do not include all information and disclosures required by generally accepted accounting principles (GAAP) in the United States (U.S.). Therefore, this information should be read in conjunction with Freeport-McMoRan Inc.’s (FCX) consolidated financial statements and notes contained in its annual report on Form 10-K for the year ended December 31, 2018 (2018 Form 10-K). The information furnished herein reflects all adjustments that are, in the opinion of management, necessary for a fair statement of the results for the interim periods reported. All such adjustments are, in the opinion of management, of a normal recurring nature, except for the adjustment discussed in Note 12. Operating results for the nine -month period ended September 30, 2019 , are not necessarily indicative of the results that may be expected for the year ending December 31, 2019 . Property, Plant, Equipment and Mine Development Costs. The following is an update to FCX’s property, plant, equipment and mine development costs accounting policy included in Note 1 of its 2018 Form 10-K. 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. For underground mines certain costs related to panel development, such as undercutting and drawpoint development, are also capitalized as mine development costs until production reaches design capacity for the mine. After reaching design capacity, the mine transitions to the production phase and panel development costs are allocated to inventory and then included as a component of cost of goods sold. Attribution of PT Freeport Indonesia (PT-FI) Net Income or Loss. FCX has concluded that the attribution of PT-FI’s net income or loss from the date of the divestment transaction ( i.e. , December 21, 2018) through December 31, 2022 (the Initial Period), should be based on the economics replacement agreement, which provides for FCX and the other pre-transaction PT-FI shareholders ( i.e. , PT Indonesia Asahan Aluminium (Persero) (PT Inalum) and PT Indonesia Papua Metal Dan Mineral (PTI)) to retain the economics of the revenue and cost sharing arrangements under PT-FI’s joint venture formerly with Rio Tinto Plc (refer to Note 2 of FCX’s 2018 Form 10-K). The economics replacement agreement entitles FCX to approximately 81 percent of PT-FI dividends paid during the Initial Period, with the remaining 19 percent paid to the noncontrolling interests. PT-FI’s net loss in third-quarter 2019 totaled $24 million , of which $20 million was attributed to FCX, and for the first nine months of 2019 totaled $28 million , of which $23 million was attributed to FCX. PT-FI’s cumulative net loss since the December 21, 2018, transaction date through September 30, 2019 , totaled $164 million , of which $133 million was attributed to FCX. The above-described attribution of PT-FI’s net income or loss applies only through the Initial Period. Beginning January 1, 2023, the attribution of PT-FI’s net income or loss will be based on equity ownership percentages ( 48.76 percent for FCX, 26.24 percent for PT Inalum and 25.00 percent for PTI). For all of its other partially owned consolidated subsidiaries, FCX attributes net income or loss based on equity ownership percentages. Agreement to Sell a Portion of Cobalt Business. In second-quarter 2019 , FCX entered into an agreement to sell its cobalt refinery in Kokkola, Finland, and related cobalt cathode precursor business (consisting of approximately $201 million of assets and $76 million of liabilities at September 30, 2019 ) for total consideration of approximately $150 million , plus working capital at the time of closing. FCX and the current noncontrolling interest partners in Freeport Cobalt will retain the remaining cobalt business, which is a producer of cobalt fine powders, chemicals, catalysts, ceramics and pigments. The transaction is expected to close by year-end 2019. Lundin Mining Corporation, which is one of the noncontrolling interest partners, is entitled to receive 30 percent of the proceeds from this transaction. In addition to customary closing conditions, including regulatory approvals, prior to completing the transaction, Freeport Cobalt is required to be segregated into two separate businesses.

Earnings per Share (Unaudited)

Earnings per Share (Unaudited) Earnings per Share (Notes)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE FCX calculates its basic net (loss) income per share of common stock under the two-class method and calculates its diluted net (loss) income per share of common stock using the more dilutive of the two-class method or the treasury-stock method. Basic net (loss) income per share of common stock was computed by dividing net (loss) income attributable to common stockholders by the weighted-average shares of common stock outstanding during the period. Diluted net (loss) income 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 (loss) income and weighted-average shares of common stock outstanding for purposes of calculating basic and diluted net (loss) income per share follow (in millions, except per share amounts): Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Net (loss) income from continuing operations $ (235 ) $ 668 $ (234 ) $ 2,535 Net loss (income) from continuing operations attributable to noncontrolling interests 27 (108 ) (16 ) (399 ) Undistributed earnings allocated to participating securities (3 ) (4 ) (3 ) (5 ) Net (loss) income from continuing operations attributable to common stockholders (211 ) 556 (253 ) 2,131 Net income (loss) from discontinued operations attributable to common stockholders 1 (4 ) 2 (19 ) Net (loss) income attributable to common stockholders $ (210 ) $ 552 $ (251 ) $ 2,112 Basic weighted-average shares of common stock outstanding 1,452 1,450 1,451 1,449 Add shares issuable upon exercise or vesting of dilutive stock options and restricted stock units (RSUs) — a 8 — a 9 a Diluted weighted-average shares of common stock outstanding 1,452 1,458 1,451 1,458 Basic net (loss) income per share attributable to common stockholders: Continuing operations $ (0.15 ) $ 0.38 $ (0.17 ) $ 1.47 Discontinued operations — — — (0.01 ) $ (0.15 ) $ 0.38 $ (0.17 ) $ 1.46 Diluted net (loss) income per share attributable to common stockholders: Continuing operations $ (0.15 ) $ 0.38 $ (0.17 ) $ 1.46 Discontinued operations — — — (0.01 ) $ (0.15 ) $ 0.38 $ (0.17 ) $ 1.45 a. Excludes approximately 10 million shares of common stock in third-quarter 2019 , 11 million for the first nine months of 2019 and 2 million for the first nine months of 2018 associated with outstanding stock options with exercise prices less than the average market price of FCX’s common stock and RSUs that were anti-dilutive. Outstanding stock options with exercise prices greater than the average market price of FCX’s common stock during the period are excluded from the computation of diluted net (loss) income per share of common stock. Stock options for 43 million shares of common stock in third-quarter 2019 , 38 million shares in third-quarter 2018 , 42 million shares for the first nine months of 2019 and 35 million shares for the first nine months of 2018 were excluded.

Inventories, Including Long-Ter

Inventories, Including Long-Term Mill and Leach Stockpiles (Unaudited)	9 Months Ended
	Sep. 30, 2019
Inventory Disclosure [Abstract]
Inventories, Including Long-Term Mill and Leach Stockpiles	INVENTORIES, INCLUDING LONG-TERM MILL AND LEACH STOCKPILES The components of inventories follow (in millions): September 30, December 31, 2018 Current inventories: Total materials and supplies, net a $ 1,619 $ 1,528 Mill stockpiles $ 200 $ 282 Leach stockpiles 1,102 1,171 Total current mill and leach stockpiles $ 1,302 $ 1,453 Raw materials (primarily concentrate) $ 292 $ 260 Work-in-process 79 192 Finished goods 1,142 1,326 Total product $ 1,513 $ 1,778 Long-term inventories: Mill stockpiles $ 223 $ 265 Leach stockpiles 1,077 1,049 Total long-term mill and leach stockpiles b $ 1,300 $ 1,314 a. Materials and supplies inventory was net of obsolescence reserves totaling $26 million at September 30, 2019 , and $24 million at December 31, 2018 . b. Estimated metals in stockpiles not expected to be recovered within the next 12 months. FCX recorded charges of $41 million in third-quarter 2019 , primarily for copper inventories, and $100 million for the first nine months of 2019 , primarily for cobalt inventories ( $58 million ) and copper inventories ( $41 million ), to adjust metals inventory carrying values to net realizable value because of lower market prices (refer to Note 9 for metals inventory adjustments by business segment).

Income Taxes (Unaudited)

Income Taxes (Unaudited)	9 Months Ended
	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES Variations in the relative proportions of jurisdictional income result in fluctuations to FCX’s consolidated effective income tax rate. Geographic sources of FCX’s benefit from (provision for) income taxes follow (in millions): Nine Months Ended September 30, 2019 2018 U.S. operations $ 73 a $ 2 International operations (254 ) (1,545 ) Total $ (181 ) b $ (1,543 ) a. Includes tax credits totaling $24 million primarily associated with state law changes and settlement of state income tax examinations. b. Includes net tax charges totaling $49 million primarily to adjust deferred taxes on historical balance sheet items in accordance with tax accounting principles. FCX’s consolidated effective income tax rate was 302 percent for the first nine months of 2019 and was 38 percent for the first nine months of 2018 . FCX's consolidated effective income tax rate is a function of the combined effective tax rates for the jurisdictions in which FCX operates. Because FCX's U.S. jurisdiction generated net losses in the first nine months of 2019

Debt and Equity

Debt and Equity	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Debt and Equity	DEBT AND EQUITY The components of debt follow (in millions): September 30, December 31, 2018 Senior notes and debentures: Issued by FCX $ 8,600 $ 9,594 Issued by Freeport Minerals Corporation (FMC) 357 358 Cerro Verde credit facility 825 1,023 Other 137 166 Total debt 9,919 11,141 Less current portion of debt (4 ) (17 ) Long-term debt $ 9,915 $ 11,124 Revolving Credit Facility. At September 30, 2019 , FCX had no borrowings outstanding and $13 million in letters of credit issued under its revolving credit facility, resulting in availability of approximately $3.5 billion , of which approximately $1.5 billion could be used for additional letters of credit. On May 2, 2019, FCX’s $3.5 billion revolving credit facility was amended to extend $3.26 billion of the facility by one year to April 20, 2024. The remaining $240 million matures on April 20, 2023. In addition, the revolving credit facility was amended to modify the calculation of the total debt component used to determine the total leverage ratio by increasing the amount of unrestricted cash that may be applied to reduce the amount of total debt. There were no other substantive modifications to the revolving credit facility. Senior Notes. On March 27, 2019, FCX redeemed all of its outstanding $1.0 billion aggregate principal amount of 3.100% Senior Notes due 2020. Holders of these senior notes received the principal amount together with the redemption premium and accrued and unpaid interest up to the redemption date. As a result of this redemption, FCX recorded a loss on early extinguishment of debt totaling $5 million in first-quarter 2019 . On August 15, 2019, FCX completed the sale of $600 million of 5.00% Senior Notes due 2027 and $600 million of 5.25% Senior Notes due 2029 for total net proceeds of $1.187 billion . Interest on these senior notes is payable semiannually on March 1 and September 1 of each year. These senior notes rank equally with FCX’s other existing and future unsecured and unsubordinated indebtedness. FCX used the net proceeds from this offering to fund the make-whole redemption of all of its outstanding 6.875% Senior Notes due 2023, and the concurrent tender offers to purchase a portion of its 4.00% Senior Notes due 2021 and its 3.55% Senior Notes due 2022, and the payment of accrued and unpaid interest, premiums, fees and expenses in connection with these transactions. As a result of these transactions, FCX recorded a loss on early extinguishment of debt totaling $21 million in third-quarter 2019 as follows (in millions): Principal Amount Net Adjustments Book Value Redemption/Tender Value Loss FCX 6.875% Senior Notes due 2023 $ 728 $ 34 $ 762 $ 768 $ 6 FCX 4.00% Senior Notes due 2021 405 (2 ) 403 418 15 FCX 3.55% Senior Notes due 2022 12 — 12 12 — $ 1,145 $ 32 $ 1,177 $ 1,198 $ 21 Cerro Verde Credit Facility. In March 2019, Cerro Verde prepaid $200 million on its credit facility, which resulted in a $1 million loss on early extinguishment of debt in first-quarter 2019 . Interest Expense, Net. Consolidated interest costs (before capitalization) totaled $163 million in third-quarter 2019 , $167 million in third-quarter 2018 , $508 million for the first nine months of 2019 and $508 million for the first nine months of 2018 . Capitalized interest added to property, plant, equipment and mine development costs, net, totaled $40 million in third-quarter 2019 , $24 million in third-quarter 2018 , $107 million for the first nine months of 2019 and $72 million for the first nine months of 2018 . Common Stock. On September 25, 2019, FCX declared a quarterly cash dividend of $0.05 per share on its common stock, which was paid on November 1, 2019, to common stockholders of record as of October 15, 2019.

Financial Instruments (Unaudite

Financial Instruments (Unaudited)	9 Months Ended
	Sep. 30, 2019
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 of September 30, 2019 , and December 31, 2018 , FCX had no price protection contracts relating to its mine production. A discussion of FCX’s derivative contracts and programs follows. Derivatives Designated as Hedging Instruments – Fair Value Hedges Copper Futures and Swap Contracts. Some of FCX’s U.S. copper rod customers request a fixed market price instead of the Commodity Exchange Inc. (COMEX) 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 resulting from hedge ineffectiveness during the nine -month periods ended September 30, 2019 and 2018 . At September 30, 2019 , FCX held copper futures and swap contracts that qualified for hedge accounting for 72 million pounds at an average contract price of $2.66 per pound, with maturities through August 2021. A summary of (losses) gains recognized in revenues for derivative financial instruments related to commodity contracts that are designated and qualify as fair value hedge transactions, including the unrealized gains (losses) on the related hedged item follows (in millions): Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Copper futures and swap contracts: Unrealized (losses) gains: Derivative financial instruments $ (2 ) $ 7 $ 3 $ (12 ) Hedged item – firm sales commitments 2 (7 ) (3 ) 12 Realized losses: Matured derivative financial instruments (8 ) (19 ) (9 ) (17 ) Derivatives Not Designated as Hedging Instruments Embedded Derivatives. Certain FCX concentrate, copper cathode and gold sales contracts provide for provisional pricing primarily based on the London Metal Exchange (LME) copper price or the COMEX copper price and the London Bullion Market Association (LBMA) gold price at the time of shipment as specified in the contract. FCX receives market prices based on prices in the specified future month, which results in price fluctuations recorded in revenues until the date of settlement. FCX records revenues and invoices customers at the time of shipment based on then-current LME or COMEX copper prices and the LBMA gold prices as specified in the contracts, 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 copper price, and the LBMA gold 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 LME or COMEX copper forward prices and the adjusted LBMA gold prices, until the date of final pricing. 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 inventory for purchase contracts. A summary of FCX’s embedded derivatives at September 30, 2019 , follows: Open Positions Average Price Per Unit Maturities Through Contract Market Embedded derivatives in provisional sales contracts: Copper (millions of pounds) 424 $ 2.63 $ 2.59 February 2020 Gold (thousands of ounces) 150 1,510 1,491 November 2019 Embedded derivatives in provisional purchase contracts: Copper (millions of pounds) 97 2.63 2.59 January 2020 Cobalt (millions of pounds) 6 9.81 12.18 December 2019 Copper Forward Contracts. Atlantic Copper, FCX’s wholly owned smelting and refining unit in Spain, enters into copper forward contracts designed to hedge its copper price risk whenever its physical purchases and sales pricing periods do not match. These economic hedge transactions are intended to hedge against changes in copper prices, with the mark-to-market hedging gains or losses recorded in cost of sales. At September 30, 2019 , Atlantic Copper held net copper forward purchase contracts for 1 million pounds at an average contract price of $2.65 per pound, with maturities through November 2019. Summary of (Losses) Gains. A summary of the realized and unrealized (losses) gains recognized in operating income for commodity contracts that do not qualify as hedge transactions, including embedded derivatives, follows (in millions): Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Embedded derivatives in provisional sales contracts: a Copper $ (57 ) $ (93 ) $ (57 ) $ (242 ) Gold and other metals 6 (25 ) 17 (37 ) Copper forward contracts b — 9 (3 ) 17 a. Amounts recorded in revenues. b. Amounts recorded in cost of sales as production and delivery costs. Unsettled Derivative Financial Instruments A summary of the fair values of unsettled commodity derivative financial instruments follows (in millions): September 30, December 31, 2018 Commodity Derivative Assets: Derivatives designated as hedging instruments : Copper futures and swap contracts $ — $ — Derivatives not designated as hedging instruments : Embedded derivatives in provisional copper, gold and cobalt sales/purchase contracts 6 23 Total derivative assets $ 6 $ 23 Commodity Derivative Liabilities: Derivatives designated as hedging instruments : Copper futures and swap contracts $ 6 $ 9 Derivatives not designated as hedging instruments : Embedded derivatives in provisional copper, gold and cobalt sales/purchase contracts 36 39 Total derivative liabilities $ 42 $ 48 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 contract on its balance sheet. FCX’s embedded derivatives on provisional sales/purchase contracts are netted with the corresponding outstanding receivable/payable balances. A summary of these unsettled commodity contracts that are offset in the balance sheets follows (in millions): Assets Liabilities September 30, December 31, 2018 September 30, December 31, 2018 Gross amounts recognized: Embedded derivatives in provisional sales/purchase contracts $ 6 $ 23 $ 36 $ 39 Copper derivatives — — 6 9 6 23 42 48 Less gross amounts of offset: Embedded derivatives in provisional sales/purchase contracts 1 7 1 7 Copper derivatives — — — — 1 7 1 7 Net amounts presented in balance sheet: Embedded derivatives in provisional sales/purchase contracts 5 16 35 32 Copper derivatives — — 6 9 $ 5 $ 16 $ 41 $ 41 Balance sheet classification: Trade accounts receivable $ — $ 3 $ 17 $ 24 Accounts payable and accrued liabilities 5 13 24 17 $ 5 $ 16 $ 41 $ 41 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 September 30, 2019 , the maximum amount of credit exposure associated with derivative transactions was $5 million . Other Financial Instruments. Other financial instruments include cash and cash equivalents, restricted cash, restricted cash equivalents, accounts receivable, investment securities, legally restricted funds, accounts payable and accrued liabilities, dividends payable and long-term debt. The carrying value for cash and cash equivalents (which included time deposits of $1.3 billion at September 30, 2019 , and $2.3 billion at December 31, 2018 ), restricted cash, restricted cash equivalents, accounts receivable, accounts payable and accrued liabilities, and dividends payable approximates fair value because of their short-term nature and generally negligible credit losses (refer to Note 7 for the fair values of investment securities, legally restricted funds and long-term debt). In addition, as of September 30, 2019 , FCX has contingent consideration assets related to the 2016 asset sales of TF Holdings Limited (TFHL), onshore California oil and gas properties and Deepwater Gulf of Mexico (GOM) oil and gas properties (refer to Note 7 for the related fair values and to Note 2 of FCX’s 2018 Form 10-K for further discussion of these instruments). Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents. The following table provides a reconciliation of total cash, cash equivalents, restricted cash and restricted cash equivalents presented in the consolidated statements of cash flows (in millions): September 30, December 31, 2018 Balance sheet components: Cash and cash equivalents $ 2,247 $ 4,217 Restricted cash and restricted cash equivalents included in: Other current assets 100 110 Other assets 165 128 Total cash, cash equivalents, restricted cash and restricted cash equivalents presented in the consolidated statements of cash flows $ 2,512 $ 4,455

Fair Value Measurement

Fair Value Measurement	9 Months Ended
	Sep. 30, 2019
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 did not have any significant transfers in or out of Level 3 during third-quarter 2019 . 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 net asset value (NAV) as a practical expedient), other than cash and cash equivalents, restricted cash, restricted cash equivalents, accounts receivable, accounts payable and accrued liabilities, and dividends payable (refer to Note 6) follows (in millions): At September 30, 2019 Carrying Fair Value Amount Total NAV Level 1 Level 2 Level 3 Assets Investment securities: a,b U.S. core fixed income fund $ 27 $ 27 $ 27 $ — $ — $ — Equity securities 4 4 — 4 — — Total 31 31 27 4 — — Legally restricted funds: a U.S. core fixed income fund 59 59 59 — — — Government mortgage-backed securities 41 41 — — 41 — Government bonds and notes 38 38 — — 38 — Corporate bonds 35 35 — — 35 — Asset-backed securities 12 12 — — 12 — Collateralized mortgage-backed securities 6 6 — — 6 — Money market funds 4 4 — 4 — — Municipal bonds 1 1 — — 1 — Total 196 196 59 4 133 — Derivatives: Embedded derivatives in provisional copper, gold and cobalt sales/purchase contracts in a gross asset position c 6 6 — — 6 — Contingent consideration for the sales of TFHL and onshore California oil and gas properties a 67 67 — — 67 — Total $ 73 $ 73 $ — $ — $ 73 $ — Contingent consideration for the sale of the Deepwater GOM oil and gas properties a 128 110 — — — 110 Liabilities Derivatives: c Embedded derivatives in provisional copper, gold and cobalt sales/purchase contracts in a gross liability position $ 36 $ 36 $ — $ — $ 36 $ — Copper futures and swap contracts 6 6 — 5 1 — Total 42 42 — 5 37 — Long-term debt, including current portion d 9,919 9,872 — — 9,872 — At December 31, 2018 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 4 4 — 4 — — Total 29 29 25 4 — — Legally restricted funds: a U.S. core fixed income fund 55 55 55 — — — Government mortgage-backed securities 38 38 — — 38 — Government bonds and notes 36 36 — — 36 — Corporate bonds 28 28 — — 28 — Asset-backed securities 11 11 — — 11 — Collateralized mortgage-backed securities 7 7 — — 7 — Money market funds 5 5 — 5 — — Municipal bonds 1 1 — — 1 — Total 181 181 55 5 121 — Derivatives: Embedded derivatives in provisional copper, gold and cobalt sales/purchase contracts in a gross asset position c 23 23 — — 23 — Contingent consideration for the sales of TFHL and onshore California oil and gas properties a 73 73 — — 73 — Total 96 96 — — 96 — Contingent consideration for the sale of the Deepwater GOM oil and gas properties a 143 127 — — — 127 Liabilities Derivatives: c Embedded derivatives in provisional copper, gold and cobalt sales/purchase contracts in a gross liability position $ 39 $ 39 $ — $ — $ 39 $ — Copper futures and swap contracts 9 9 — 7 2 — Total 48 48 — 7 41 — Long-term debt, including current portion d 11,141 10,238 — — 10,238 — 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 $100 million at September 30, 2019 , and $109 million at December 31, 2018 , and (ii) other assets of $164 million at September 30, 2019 , and $126 million at December 31, 2018 , primarily associated with an assurance bond to support PT-FI’s commitment for the development of a new smelter in Indonesia and PT-FI’s closure and reclamation guarantees. c. Refer to Note 6 for further discussion and balance sheet classifications. d. Recorded at cost except for debt assumed in acquisitions, which are recorded at fair value at the respective acquisition dates. Valuation Techniques. The U.S. core fixed income fund is valued at NAV. The fund strategy seeks total return consisting of income and capital appreciation primarily by investing in a broad range of investment-grade debt securities, including U.S. government obligations, corporate bonds, mortgage-backed securities, asset-backed securities and money market instruments. There are no restrictions on redemptions (which are usually within one business day of notice). 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. Money market funds are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices in active markets. FCX’s embedded derivatives on provisional copper concentrate, copper cathode and gold purchases and sales are valued using quoted monthly LME or COMEX copper forward prices and the adjusted LBMA gold prices at each reporting date based on the month of maturity (refer to Note 6 for further discussion); however, FCX’s contracts themselves are not traded on an exchange. 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. As a result, these derivatives are classified within Level 2 of the fair value hierarchy. FCX’s derivative financial instruments for copper futures and swap contracts and copper forward contracts that are traded on the respective exchanges are classified within Level 1 of the fair value hierarchy because they are valued using quoted monthly COMEX or LME prices at each reporting date based on the month of maturity (refer to Note 6 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. As reported in Note 2 of FCX’s 2018 Form 10-K, in November 2016, FCX’s sale of its interest in TFHL included 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 the 24-month period beginning January 1, 2018 . The fair value of the contingent consideration derivative associated with the sale of TFHL was $59 million at September 30, 2019 (included in other current assets in the consolidated balance sheet), and $57 million at December 31, 2018 (included in other assets). Future changes in the fair value of this contingent consideration derivative will continue to be recorded in discontinued operations. Also in 2016, FCX’s sale of its onshore California oil and gas properties included 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 fair value of the contingent consideration derivative (included in other assets in the consolidated balance sheets) associated with the sale of the onshore California oil and gas properties was $8 million at September 30, 2019 , and $16 million at December 31, 2018 . Future changes in the fair value of this contingent consideration derivative will continue to be recorded in operating income. Also, contingent consideration of $50 million associated with the onshore California oil and gas properties was realized in 2018 and collected in first-quarter 2019 (included in proceeds from sales of oil and gas properties in the consolidated statements of cash flows) because the average Brent crude oil price exceeded $70 per barrel for 2018 and was included in other current assets in the consolidated balance sheet at December 31, 2018 . These fair values were 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. As reported in Note 2 of FCX’s 2018 Form 10-K, in December 2016, FCX’s sale of its Deepwater GOM oil and gas properties included up to $150 million in contingent consideration that was recorded at the total amount under the loss recovery approach. The contingent consideration will be received over time as future cash flows are realized in connection with a third-party production handling agreement for an offshore platform. The first collection occurred in third-quarter 2018. The contingent consideration included in (i) other current assets totaled $18 million at September 30, 2019 , and $27 million at December 31, 2018 , and (ii) other assets totaled $110 million at September 30, 2019 , and $116 million at December 31, 2018 . The fair value of this contingent consideration was calculated based on a discounted cash flow model using inputs that include third-party estimates for reserves, production rates and 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. Long-term debt, including current portion, is primarily 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 that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while FCX believes its valuation techniques are appropriate and consistent with other market participants, the use of different techniques or assumptions to determine fair value of certain financial instruments could result in a different fair value measurement at the reporting date. There have been no changes in the techniques used at September 30, 2019 , as compared with those techniques used at December 31, 2018 . A summary of the changes in the fair value of FCX’s Level 3 instrument, contingent consideration for the sale of the Deepwater GOM oil and gas properties, during the first nine months of 2019 follows (in millions): Fair value at January 1, 2019 $ 127 Net unrealized loss related to assets still held at the end of the period (1 ) Settlements (16 ) Fair value at September 30, 2019 $ 110

Contingencies and Commitments (

Contingencies and Commitments (Unaudited)	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	CONTINGENCIES AND COMMITMENTS Litigation Louisiana Parishes Coastal Erosion Cases. In September 2019, affiliates of FCX reached an agreement in principle to settle all 13 cases filed in Louisiana state courts by six south Louisiana parishes (Cameron, Jefferson, Plaquemines, St. Bernard, St. John the Baptist and Vermilion) and the parties that have intervened in the litigation, including the state of Louisiana, through the Attorney General and separately through the Louisiana Department of Natural Resources in support of the parishes’ claims, alleging that certain oil and gas exploration and production operations and sulphur mining and production operations of the FCX affiliates damaged coastal wetlands and caused significant land loss along the Louisiana coast. The maximum out-of-pocket settlement payment will be $23.5 million with the initial payment of $15 million to be paid upon execution of the settlement agreement. The initial payment will be held in trust and later deposited into a newly formed Coastal Zone Recovery Fund (the Fund) once the state of Louisiana passes enabling legislation to establish the Fund. The settlement agreement will also require the FCX affiliates to pay into the Fund twenty annual installments of $4.25 million beginning in 2023 provided the state of Louisiana passes the enabling legislation. The first two of those annual installments are conditioned only on the enactment of the enabling legislation within three years of execution of the settlement agreement, but all subsequent installments are also conditioned on the FCX affiliates receiving simultaneous reimbursement on a dollar-for-dollar basis from the proceeds of environmental credit sales generated by the Fund, resulting in the $23.5 million maximum total payment obligation. The settlement agreement is currently expected to be executed during fourth-quarter 2019 and will need to be executed by all parties, including authorized representatives of the six south Louisiana parishes originally plaintiffs in the suit and certain other non-plaintiff Louisiana parishes and the state of Louisiana. Upon execution of the settlement agreement, the FCX affiliates will be fully released and dismissed from all 13 pending cases. The agreement in principle does not include any admission of liability by FCX or its affiliates. FCX recorded a charge in third-quarter 2019 for the initial payment of $15 million , which will be paid upon execution of the settlement agreement. There were no significant updates to previously reported legal proceedings included in Note 12 of FCX’s 2018 Form 10-K, other than the asbestos and talc claims matter below, which was updated in Note 8 of FCX’s quarterly report on Form 10-Q for the quarters ended March 31, 2019, and June 30, 2019, and below. Asbestos and Talc Claims . As previously disclosed, there has been a significant increase in the number of cases alleging the presence of asbestos contamination in talc-based personal care products and in cases alleging exposure to talc products that are not alleged to be contaminated with asbestos. The primary targets have been the producers of those products, but defendants in many of these cases also include talc miners. Cyprus Amax Minerals Company (CAMC), an indirect wholly owned subsidiary of FCX, and Cyprus Mines Corporation (Cyprus Mines), a wholly owned subsidiary of CAMC, are among those targets. Cyprus Mines was engaged in talc mining from 1964 until 1992 when it exited its talc business by conveying it to a third party in two related transactions. Those transactions involved (i) a transfer by Cyprus Mines of the assets of its talc business to a newly formed subsidiary that assumed all pre-sale and post-sale talc liabilities, subject to limited reservations, and (ii) a sale of the stock of that subsidiary to the third party. In 2011, the third party sold that subsidiary to Imerys Talc America (Imerys), an affiliate of Imerys S.A. Cyprus Mines has contractual indemnification rights, subject to limited reservations, against Imerys, which has historically acknowledged those indemnification obligations, and had taken responsibility for all cases tendered to it. However, on February 13, 2019, Imerys filed for Chapter 11 bankruptcy protection, which triggered an immediate automatic stay under the federal bankruptcy code prohibiting any party from continuing or initiating litigation or asserting new claims against Imerys. As a result, Imerys is no longer defending the talc lawsuits against Cyprus Mines and CAMC. In addition, Imerys has taken the position that it alone owns, and has the sole right to access, the proceeds of the legacy insurance coverage of Cyprus Mines and CAMC for talc liabilities. In late March 2019, Cyprus Mines and CAMC challenged this position and obtained emergency relief from the bankruptcy court to gain access to the insurance until the question of ownership and contractual access can be decided in an adversary proceeding before the bankruptcy court, which was previously scheduled for October 2019, but is being rescheduled for early 2020. During first-quarter 2019, in a case pending at the time Imerys filed bankruptcy, a California jury entered a $29 million verdict against Johnson & Johnson and Cyprus Mines, of which approximately $2 million was attributed to Cyprus Mines. Taking advantage of the temporary access to the insurance authorized by the bankruptcy court, Cyprus Mines used the insurance to fully resolve the case. Cyprus Mines and the insurers also settled several other cases set for trial in recent months, and secured delays or dismissals in other cases. At September 30, 2019, Cyprus Mines had accrued approximately $5 million related to these cases. Multiple trials have been scheduled over the remainder of 2019 and the first half of 2020, and others may be scheduled prior to the adversary proceeding regarding the legacy insurance. FCX believes that Cyprus Mines and CAMC each has strong defenses to legal liability and that both should have access to the legacy insurance to cover defense costs, settlements and judgments, at least until the bankruptcy court decides otherwise or the insurance is exhausted. At this time, FCX cannot estimate the range of possible loss associated with these proceedings, but it does not currently believe the amount of any such losses are material to its consolidated financial statements. However, there can be no assurance that future developments will not alter this conclusion. Tax and Other Matters As discussed in Note 12 of FCX’s 2018 Form 10-K, PT-FI received assessments from the local regional tax authorities in Papua, Indonesia, for additional taxes and penalties related to surface water taxes. In May 2019, PT-FI agreed to pay 1.394 trillion rupiah ( $99 million based on the exchange rate at September 30, 2019), to settle historical disputes. In August 2019, PT-FI agreed to a revised payment schedule, paying 708.5 billion rupiah ( $50 million ) in October 2019, with the remaining 685.5 billion rupiah ( $49 million based on the exchange rate at September 30, 2019) to be paid in February 2021. As a result of the May 2019 settlement, in second-quarter 2019, PT-FI recorded charges of $28 million to production and delivery costs ( $69 million was previously accrued in 2018 for this matter). In accordance with PT-FI’s special mining license (IUPK), PT-FI is also obligated to pay surface water taxes of $15 million annually, beginning in 2019, which are recognized in production and delivery costs as incurred. Refer to Note 12 for discussion of updates on PT-FI’s export duty matter and mine development cost tax matters. On September 12, 2019, PT-FI received approval from the Indonesian government to increase its export quota from approximately 180,000 dry metric tons (DMT) of concentrate to approximately 680,000 DMT for the current export period, which expires March 8, 2020. In March 2019, PT Smelting (PT-FI’s 25 percent -owned smelter and refinery in Indonesia) received an extension of its anode slimes export license through March 11, 2020.

BUSINESS SEGMENTS

BUSINESS SEGMENTS	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Business Segment	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. 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. FCX defers recognizing profits on sales from its mines to other segments, including Atlantic Copper Smelting & Refining, and on 25 percent of PT-FI’s sales to PT Smelting, 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 Financial Information by Business Segment 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. Product Revenues. FCX’s revenues attributable to the products it sold for the third quarters and first nine months of 2019 and 2018 follow (in millions): Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Copper: Concentrate $ 952 $ 1,743 $ 3,251 $ 5,093 Cathode 878 1,015 2,696 3,383 Rod and other refined copper products 537 561 1,560 1,899 Purchased copper a 210 256 872 776 Gold 415 1,073 1,111 2,814 Molybdenum 295 286 910 882 Other b 202 381 697 1,179 Adjustments to revenues: Treatment charges (87 ) (162 ) (292 ) (433 ) Royalty expense c (24 ) (75 ) (73 ) (217 ) Export duties d (174 ) (52 ) (201 ) (153 ) Revenues from contracts with customers 3,204 5,026 10,531 15,223 Embedded derivatives e (51 ) (118 ) (40 ) (279 ) Total consolidated revenues $ 3,153 $ 4,908 $ 10,491 $ 14,944 a. FCX purchases copper cathode primarily for processing by its Rod & Refining operations. b. Primarily includes revenues associated with cobalt and silver. c. Reflects royalties on sales from PT-FI and Cerro Verde that will vary with the volume of metal sold and prices. d. Reflects PT-FI export duties. The third quarter and first nine months of 2019 include charges totaling $166 million primarily associated with an unfavorable Indonesia Supreme Court ruling related to certain disputed export duties (refer to Note 12). e. Refer to Note 6 for discussion of embedded derivatives related to FCX’s provisionally priced concentrate and cathode sales contracts. Financial Information by Business Segment (In millions) Atlantic Corporate, North America Copper Mines South America Copper Other Cerro Indonesia Molybdenum Rod & Smelting & Elimi- FCX Morenci Other Total Verde Other Total Mining Mines Refining & Refining nations Total Three Months Ended September 30, 2019 Revenues: Unaffiliated customers $ 61 $ 19 $ 80 $ 504 $ 117 $ 621 $ 488 a $ — $ 1,104 $ 437 $ 423 b $ 3,153 Intersegment 462 598 1,060 65 — 65 — 90 8 — (1,223 ) — Production and delivery 377 519 896 417 111 528 399 85 1,111 421 (775 ) 2,665 Depreciation, depletion and amortization 45 46 91 93 16 109 77 16 2 7 20 322 Metals inventory adjustments 1 37 38 2 — 2 — 1 — — — 41 Selling, general and administrative expenses 1 1 2 2 — 2 31 — — 5 66 106 Mining exploration and research expenses — — — — — — — — — — 25 25 Environmental obligations and shutdown costs — — — — — — — — — — 20 20 Net loss on sales of assets — — — — — — — — — — 12 12 Operating income (loss) 99 14 113 55 (10 ) 45 (19 ) (12 ) (1 ) 4 (168 ) (38 ) Interest expense, net — 1 1 25 — 25 1 — — 5 91 123 Provision for (benefit from) income taxes — — — 29 4 33 (8 ) — — (1 ) 67 91 Total assets at September 30, 2019 2,943 5,005 7,948 8,500 1,723 10,223 16,447 1,786 236 680 3,623 40,943 Capital expenditures 61 163 224 61 7 68 334 5 1 9 25 666 Three Months Ended September 30, 2018 Revenues: Unaffiliated customers $ 30 $ 2 $ 32 $ 687 $ 122 $ 809 $ 1,703 a $ — $ 1,212 $ 579 $ 573 b $ 4,908 Intersegment 467 587 1,054 71 — 71 61 101 8 — (1,295 ) — Production and delivery 304 485 789 519 105 624 522 76 1,215 559 (716 ) 3,069 Depreciation, depletion and amortization 43 45 88 122 20 142 181 20 3 6 18 458 Selling, general and administrative expenses 1 — 1 3 — 3 29 — — 5 63 101 Mining exploration and research expenses — 1 1 — — — — — — — 26 27 Environmental obligations and shutdown costs — 2 2 — — — — — — — 6 8 Net gain on sales of assets — — — — — — — — — — (70 ) (70 ) Operating income (loss) 149 56 205 114 (3 ) 111 1,032 5 2 9 (49 ) 1,315 Interest expense, net 1 — 1 15 — 15 — — — 7 120 143 Provision for income taxes — — — 37 5 42 424 — — — 56 522 Total assets at September 30, 2018 2,826 4,465 7,291 8,613 1,709 10,322 11,764 1,808 284 835 5,445 37,749 Capital expenditures 63 118 181 47 3 50 246 4 1 3 22 507 a. Includes PT-FI's sales to PT Smelting totaling $475 million in third-quarter 2019 and $827 million in third-quarter 2018 . 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. (In millions) Atlantic Corporate, North America Copper Mines South America Mining Copper Other Cerro Indonesia Molybdenum Rod & Smelting & Elimi- FCX Morenci Other Total Verde Other Total Mining Mines Refining & Refining nations Total Nine Months Ended September 30, 2019 Revenues: Unaffiliated customers $ 89 $ 183 $ 272 $ 1,793 $ 343 $ 2,136 $ 1,776 a $ — $ 3,403 $ 1,554 $ 1,350 b $ 10,491 Intersegment 1,411 1,611 3,022 262 — 262 57 290 18 5 (3,654 ) — Production and delivery 1,020 1,443 2,463 1,311 337 1,648 1,509 234 3,415 1,488 (2,173 ) 8,584 Depreciation, depletion and amortization 128 133 261 294 48 342 281 50 7 21 59 1,021 Metals inventory adjustments 1 38 39 2 — 2 — 1 — — 58 100 Selling, general and administrative expenses 2 2 4 6 — 6 91 — — 15 199 315 Mining exploration and research expenses — 1 1 — — — — — — — 82 83 Environmental obligations and shutdown costs — — — — — — — — — — 85 85 Net gain on sales of assets — — — — — — — — — — (13 ) (13 ) Operating income (loss) 349 177 526 442 (42 ) 400 (48 ) 5 (1 ) 35 (601 ) 316 Interest expense, net 2 1 3 79 — 79 2 — — 17 300 401 Provision for (benefit from) income taxes — — — 159 (10 ) 149 (9 ) — — 2 39 181 Capital expenditures 172 469 641 160 16 176 992 11 3 18 76 1,917 Nine Months Ended September 30, 2018 Revenues: Unaffiliated customers $ 58 $ 30 $ 88 $ 2,031 $ 443 $ 2,474 $ 4,863 a $ — $ 3,984 $ 1,758 $ 1,777 b $ 14,944 Intersegment 1,636 1,917 3,553 273 — 273 114 307 24 2 (4,273 ) — Production and delivery 892 1,475 2,367 1,391 354 1,745 1,404 214 3,992 1,694 (2,626 ) 8,790 Depreciation, depletion and amortization 133 141 274 336 66 402 534 60 8 20 53 1,351 Metals inventory adjustments — 2 2 — — — — — — — — 2 Selling, general and administrative expenses 3 2 5 7 — 7 96 — — 16 217 341 Mining exploration and research expenses — 2 2 — — — — — — — 70 72 Environmental obligations and shutdown costs — 2 2 — — — — — — — 74 76 Net gain on sales of assets — — — — — — — — — — (126 ) (126 ) Operating income (loss) 666 323 989 570 23 593 2,943 33 8 30 (158 ) 4,438 Interest expense, net 3 — 3 48 — 48 — — — 18 367 436 Provision for income taxes — — — 207 15 222 1,254 — — 1 66 1,543 Capital expenditures 151 262 413 178 10 188 695 6 3 10 76 1,391 a. Includes PT-FI’s sales to PT Smelting totaling $1.4 billion for the first nine months of 2019 and $2.1 billion for the first nine months of 2018 . 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.

Guarantor Financial Statements

Guarantor Financial Statements (Unaudited)	9 Months Ended
	Sep. 30, 2019
Guarantor Financial Statements [Abstract]
Guarantor Financial Statements	GUARANTOR FINANCIAL STATEMENTS All of the senior notes issued by FCX are fully and unconditionally guaranteed on a senior basis jointly and severally by Freeport-McMoRan Oil & Gas LLC (FM O&G LLC), as guarantor, which is a 100 -percent-owned subsidiary of FCX Oil & Gas LLC (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 September 30, 2019 , and December 31, 2018 , and the related condensed consolidating statements of comprehensive (loss) income for the three and nine months ended September 30, 2019 and 2018 , and the condensed consolidating statements of cash flows for the nine months ended September 30, 2019 and 2018 (in millions), which should be read in conjunction with the other notes in these consolidated financial statements. CONDENSED CONSOLIDATING BALANCE SHEET September 30, 2019 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX ASSETS Current assets $ 46 $ 606 $ 8,298 $ (603 ) $ 8,347 Property, plant, equipment and mine development costs, net 18 5 29,300 7 29,330 Investments in consolidated subsidiaries 17,523 — — (17,523 ) — Other assets 1,340 17 3,008 (1,099 ) 3,266 Total assets $ 18,927 $ 628 $ 40,606 $ (19,218 ) $ 40,943 LIABILITIES AND EQUITY Current liabilities $ 312 $ 42 $ 3,662 $ (635 ) $ 3,381 Long-term debt, less current portion 8,600 7,215 6,003 (11,903 ) 9,915 Deferred income taxes 498 a — 3,747 — 4,245 Environmental and asset retirement obligations, less current portion — 237 3,321 — 3,558 Investments in consolidated subsidiaries — 630 10,837 (11,467 ) — Other liabilities 73 3,341 2,376 (3,488 ) 2,302 Total liabilities 9,483 11,465 29,946 (27,493 ) 23,401 Equity: Stockholders’ equity 9,444 (10,837 ) 8,028 2,809 9,444 Noncontrolling interests — — 2,632 5,466 8,098 Total equity 9,444 (10,837 ) 10,660 8,275 17,542 Total liabilities and equity $ 18,927 $ 628 $ 40,606 $ (19,218 ) $ 40,943 a. All U.S.-related deferred income taxes are recorded at the parent company. CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2018 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX ASSETS Current assets $ 309 $ 620 $ 10,376 $ (585 ) $ 10,720 Property, plant, equipment and mine development costs, net 19 7 27,984 — 28,010 Investments in consolidated subsidiaries 19,064 — — (19,064 ) — Other assets 880 23 3,218 (635 ) 3,486 Total assets $ 20,272 $ 650 $ 41,578 $ (20,284 ) $ 42,216 LIABILITIES AND EQUITY Current liabilities $ 245 $ 34 $ 3,667 $ (617 ) $ 3,329 Long-term debt, less current portion 9,594 6,984 5,649 (11,103 ) 11,124 Deferred income taxes 524 a — 3,508 — 4,032 Environmental and asset retirement obligations, less current portion — 227 3,382 — 3,609 Investments in consolidated subsidiaries — 578 10,513 (11,091 ) — Other liabilities 111 3,340 2,265 (3,486 ) 2,230 Total liabilities 10,474 11,163 28,984 (26,297 ) 24,324 Equity: Stockholders’ equity 9,798 (10,513 ) 9,912 601 9,798 Noncontrolling interests — — 2,682 5,412 8,094 Total equity 9,798 (10,513 ) 12,594 6,013 17,892 Total liabilities and equity $ 20,272 $ 650 $ 41,578 $ (20,284 ) $ 42,216 a. All U.S.-related deferred income taxes are recorded at the parent company. CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE (LOSS) INCOME Three Months Ended September 30, 2019 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 11 $ 3,142 $ — $ 3,153 Total costs and expenses 5 28 3,165 (7 ) 3,191 Operating (loss) income (5 ) (17 ) (23 ) 7 (38 ) Interest expense, net (79 ) (79 ) (98 ) 133 (123 ) Other (expense) income, net (52 ) — 36 28 12 (Loss) income before income taxes and equity in affiliated companies’ net earnings (losses) (136 ) (96 ) (85 ) 168 (149 ) (Provision for) benefit from income taxes (26 ) 22 (85 ) (2 ) (91 ) Equity in affiliated companies’ net earnings (losses) (45 ) (36 ) (105 ) 191 5 Net (loss) income from continuing operations (207 ) (110 ) (275 ) 357 (235 ) Net income from discontinued operations — — 1 — 1 Net (loss) income (207 ) (110 ) (274 ) 357 (234 ) Net loss (income) attributable to noncontrolling interests — — 22 5 27 Net (loss) income attributable to common stockholders $ (207 ) $ (110 ) $ (252 ) $ 362 $ (207 ) Other comprehensive income (loss) 12 — 12 (12 ) 12 Total comprehensive (loss) income $ (195 ) $ (110 ) $ (240 ) $ 350 $ (195 ) Three Months Ended September 30, 2018 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 15 $ 4,893 $ — $ 4,908 Total costs and expenses 7 (2 ) 3,588 — 3,593 Operating (loss) income (7 ) 17 1,305 — 1,315 Interest expense, net (93 ) (79 ) (96 ) 125 (143 ) Other income (expense), net 124 — 15 (125 ) 14 Income (loss) before income taxes and equity in affiliated companies’ net earnings (losses) 24 (62 ) 1,224 — 1,186 (Provision for) benefit from income taxes (188 ) 11 (345 ) — (522 ) Equity in affiliated companies’ net earnings (losses) 720 (6 ) (54 ) (656 ) 4 Net income (loss) from continuing operations 556 (57 ) 825 (656 ) 668 Net loss from discontinued operations — — (4 ) — (4 ) Net income (loss) 556 (57 ) 821 (656 ) 664 Net income attributable to noncontrolling interests — — (47 ) (61 ) (108 ) Net income (loss) attributable to common stockholders $ 556 $ (57 ) $ 774 $ (717 ) $ 556 Other comprehensive income (loss) 11 — 11 (11 ) 11 Total comprehensive income (loss) $ 567 $ (57 ) $ 785 $ (728 ) $ 567 CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE (LOSS) INCOME Nine Months Ended September 30, 2019 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 27 $ 10,464 $ — $ 10,491 Total costs and expenses 22 54 10,106 (7 ) 10,175 Operating (loss) income (22 ) (27 ) 358 7 316 Interest expense, net (252 ) (247 ) (309 ) 407 (401 ) Other income (expense), net 12 — 59 (46 ) 25 (Loss) income before income taxes and equity in affiliated companies’ net earnings (losses) (262 ) (274 ) 108 368 (60 ) (Provision for) benefit from income taxes (34 ) 62 (207 ) (2 ) (181 ) Equity in affiliated companies’ net earnings (losses) 48 (52 ) (257 ) 268 7 Net (loss) income from continuing operations (248 ) (264 ) (356 ) 634 (234 ) Net income from discontinued operations — — 2 — 2 Net (loss) income (248 ) (264 ) (354 ) 634 (232 ) Net income attributable to noncontrolling interests — — (20 ) 4 (16 ) Net (loss) income attributable to common stockholders $ (248 ) $ (264 ) $ (374 ) $ 638 $ (248 ) Other comprehensive income (loss) 35 — 35 (35 ) 35 Total comprehensive (loss) income $ (213 ) $ (264 ) $ (339 ) $ 603 $ (213 ) Nine Months Ended September 30, 2018 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 46 $ 14,898 $ — $ 14,944 Total costs and expenses 20 (10 ) 10,506 (10 ) 10,506 Operating (loss) income (20 ) 56 4,392 10 4,438 Interest expense, net (294 ) (219 ) (273 ) 350 (436 ) Other income (expense), net 357 2 62 (350 ) 71 Income (loss) before income taxes and equity in affiliated companies’ net earnings (losses) 43 (161 ) 4,181 10 4,073 (Provision for) benefit from income taxes (282 ) 33 (1,292 ) (2 ) (1,543 ) Equity in affiliated companies’ net earnings (losses) 2,356 (10 ) (133 ) (2,208 ) 5 Net income (loss) from continuing operations 2,117 (138 ) 2,756 (2,200 ) 2,535 Net loss from discontinued operations — — (19 ) — (19 ) Net income (loss) 2,117 (138 ) 2,737 (2,200 ) 2,516 Net income attributable to noncontrolling interests — — (220 ) (179 ) (399 ) Net income (loss) attributable to common stockholders $ 2,117 $ (138 ) $ 2,517 $ (2,379 ) $ 2,117 Other comprehensive income (loss) 34 — 34 (34 ) 34 Total comprehensive income (loss) $ 2,151 $ (138 ) $ 2,551 $ (2,413 ) $ 2,151 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Nine Months Ended September 30, 2019 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Net cash provided by (used in) operating activities $ 352 $ (326 ) $ 1,286 $ — $ 1,312 Cash flow from investing activities: Capital expenditures — (4 ) (1,913 ) — (1,917 ) Intercompany loans (801 ) — — 801 — Dividends from (investments in) consolidated subsidiaries 1,697 — 70 (1,769 ) (2 ) Asset sales and other, net (1 ) 98 (3 ) — 94 Net cash provided by (used in) investing activities 895 94 (1,846 ) (968 ) (1,825 ) Cash flow from financing activities: Proceeds from debt 1,200 — 481 — 1,681 Repayments of debt (2,202 ) — (715 ) — (2,917 ) Intercompany loans — 232 570 (802 ) — Cash dividends paid and contributions received, net (218 ) — (1,696 ) 1,750 (164 ) Other, net (27 ) — (23 ) 20 (30 ) Net cash (used in) provided by financing activities (1,247 ) 232 (1,383 ) 968 (1,430 ) Net decrease in cash, cash equivalents, restricted cash and restricted cash equivalents — — (1,943 ) — (1,943 ) Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year — — 4,455 — 4,455 Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period $ — $ — $ 2,512 $ — $ 2,512 Nine Months Ended September 30, 2018 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Net cash (used in) provided by operating activities $ (181 ) $ (285 ) $ 4,391 $ — $ 3,925 Cash flow from investing activities: Capital expenditures (2 ) — (1,389 ) — (1,391 ) Intercompany loans (558 ) — — 558 — Dividends from (investments in) consolidated subsidiaries 2,726 — 65 (2,791 ) — Asset sales and other, net 4 3 (88 ) — (81 ) Net cash provided by (used in) investing activities 2,170 3 (1,412 ) (2,233 ) (1,472 ) Cash flow from financing activities: Proceeds from debt — — 475 — 475 Repayments of debt (1,826 ) (52 ) (532 ) — (2,410 ) Intercompany loans — 327 231 (558 ) — Cash dividends paid and contributions received, net (145 ) — (3,016 ) 2,775 (386 ) Other, net (18 ) — (17 ) 16 (19 ) Net cash (used in) provided by financing activities (1,989 ) 275 (2,859 ) 2,233 (2,340 ) Net (decrease) increase in cash, cash equivalents, restricted cash and restricted cash equivalents — (7 ) 120 — 113 Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year — 7 4,703 — 4,710 Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period $ — $ — $ 4,823 $ — $ 4,823

New Accounting Standard

New Accounting Standard	9 Months Ended
	Sep. 30, 2019
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Standards	NEW ACCOUNTING STANDARDS Leases. Effective January 1, 2019, FCX adopted the Financial Accounting Standards Board’s (FASB) Accounting Standards Update (ASU) that requires lessees to recognize most leases on the balance sheet. FCX elected the practical expedients allowing it to (i) apply the provisions of the updated lease guidance at the effective date, without adjusting the comparative periods presented and (ii) not reassess lease contracts, lease classification and initial direct costs of leases existing at adoption. FCX also elected an accounting policy to not recognize a lease asset and liability for leases with a term of 12 months or less and a purchase option that is not expected to be exercised. FCX leases various types of properties, including offices and equipment under non-cancelable leases. Nearly all of FCX’s leases were considered operating leases under the new ASU. Adoption of this ASU resulted in the recognition of $243 million in lease right-of-use assets and lease liabilities as of January 1, 2019. The components of FCX’s leases presented in the consolidated balance sheet as of September 30, 2019 , follow (in millions): Lease right-of-use assets (included in property, plant, equipment and mine development costs, net) $ 241 Short-term lease liabilities (included in accounts payable and accrued liabilities) $ 45 Long-term lease liabilities (included in other liabilities) 211 Total lease liabilities $ 256 Operating lease costs, primarily included in production and delivery expense in the consolidated statement of operations, are as follows (in millions): Three Months Ended Nine Months Ended September 30, 2019 September 30, 2019 Operating leases $ 11 $ 44 Variable and short-term leases 19 59 Total operating lease costs $ 30 $ 103 Lease costs totaled $80 million for the year 2018. FCX paid $32 million during the first nine months of 2019 for lease liabilities recorded in the consolidated balance sheet (primarily included in operating cash flows in the consolidated statements of cash flows). As of September 30, 2019 , the weighted-average discount rate used to determine the lease liabilities was 5.6 percent and the weighted-average remaining lease term was 8.5 years . The future minimum payments for leases presented in the consolidated balance sheet at September 30, 2019 , follow (in millions): Remaining three months of 2019 $ 14 2020 55 2021 42 2022 35 2023 31 Thereafter 155 Total payments 332 Less amount representing interest (76 ) Present value of net minimum lease payments 256 Less current portion (45 ) Long-term portion $ 211 Financial Instruments. In June 2016, FASB issued an ASU that requires entities to estimate all expected credit losses for most financial assets held at the reporting date based on an expected loss model, which requires consideration of historical experience, current conditions, and reasonable and supportable forecasts. This ASU also requires enhanced disclosure requirements to enable users of financial statements to understand the entity’s assumptions, models and methods for estimating expected credit losses. For public companies, this ASU is effective for interim and annual reporting periods beginning after December 15, 2019, with early adoption permitted. Currently, FCX does not expect this guidance to have a material impact on its consolidated financial statements.

Subsequent Events (Unaudited)

Subsequent Events (Unaudited)	9 Months Ended
	Sep. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS FCX evaluated events after September 30, 2019 , and through the date the consolidated financial statements were issued, and took into account events and transactions occurring during this period requiring recognition or disclosure in these consolidated financial statements. Timok Transaction. In 2016, FCX sold an interest in the upper zone of the Timok exploration project in Serbia for cash consideration of $135 million and contingent consideration of up to $107 million payable to FCX in stages upon achievement of defined development milestones. In November 2019, FCX entered into an agreement to sell its interest in the lower zone of the Timok exploration project to an affiliate of the purchaser in the 2016 transaction, for cash consideration of $240 million at closing plus deferred payments of up to $150 million . The deferred payments will be based on the future sale of products (as defined in the agreement) from the Timok lower zone. For a period of 12 months after the third anniversary of the initial sale of products from the Timok exploration project, the purchaser can settle, or FCX can demand payment of, such deferred payment obligation, in each case, for a total of $60 million . In addition, in lieu of such payment upon achievement of defined development milestones, the purchaser agreed to pay the $107 million contingent consideration provided for in the 2016 transaction in three installment payments of $45 million by July 31, 2020, $50 million by December 31, 2021, and $12 million by March 31, 2022. Upon closing, FCX expects to record a gain of approximately $340 million , consisting of the cash consideration payment ( $240 million ) and the aggregate amount of the three installment payments (approximately $100 million after discounting). The transaction is expected to close by first-quarter 2020, subject to receipt of customary regulatory approvals. PT-FI Export Duty Matter. As discussed in Note 12 of FCX’s 2018 Form 10-K, in accordance with PT-FI’s 2017 Memorandum of Understanding with the Indonesian government, PT-FI agreed to pay export duties of 5 percent on the value of copper concentrate export sales until completion of the divestment and new IUPK. The Indonesia Customs Office applied a 7.5 percent duty. PT-FI paid the 2.5 percent difference for the period between April 2017 and December 21, 2018, totaling $155 million , under protest and appealed the disputed amounts to the Indonesia Tax Court. The Indonesia Tax Court subsequently announced rulings in favor of PT-FI related to individual cases involving $29 million of the disputed amounts, which were refunded by the Indonesia Customs Office to PT-FI. The Indonesia Customs Office appealed the Indonesia Tax Court decisions on these cases to the Indonesia Supreme Court. On October 29, 2019, the Indonesia Supreme Court posted on its website rulings unfavorable to PT-FI for certain of the appealed cases involving approximately half of the $29 million that had been refunded to PT-FI. As a result of the October 2019 ruling, under applicable accounting guidance, FCX recorded a charge of $155 million ( $76 million to net loss attributable to common stock or $0.05 per share) during third-quarter 2019 to fully reserve for this matter. PT-FI continues to believe that a 5 percent export duty was applicable during this period and is evaluating options to recover these overpayments. Under PT-FI’s IUPK entered into on December 21, 2018, the applicable export duty is 5 percent , declining to 2.5 percent when smelter development progress exceeds 30 percent and eliminated when smelter development progress exceeds 50 percent . PT-FI Mine Development Cost Tax Matters. As discussed in Note 12 of FCX’s 2018 Form 10-K, PT-FI received unfavorable decisions from the Indonesia Tax Court with respect to its appeal of disallowed items on its 2012 and 2014 corporate income tax returns related to the tax treatment of mine development costs. On October 31, 2019, the Indonesia Supreme Court posted on its website a ruling unfavorable to PT-FI regarding its appeal of the Indonesia Tax Court decision regarding the tax treatment of mine development costs in its 2014 tax return. PT-FI is working with its advisors to estimate the aggregate potential exposure of this ruling, which could be significant after taking into account potential applicable penalties and interest and potential application to other years under dispute. PT-FI believes its treatment of mine development costs were appropriate under applicable provisions of the Contract of Work. The IUPK entered into on December 21, 2018, also provides for deductibility of mine development costs. Under applicable accounting guidelines, adjustments for income tax matters such as this are reflected in the period in which the item becomes known and will be incorporated in FCX’s fourth-quarter 2019 results.

New Accounting Standard (Polici

New Accounting Standard (Policies)	9 Months Ended
	Sep. 30, 2019
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Leases	Leases. Effective January 1, 2019, FCX adopted the Financial Accounting Standards Board’s (FASB) Accounting Standards Update (ASU) that requires lessees to recognize most leases on the balance sheet. FCX elected the practical expedients allowing it to (i) apply the provisions of the updated lease guidance at the effective date, without adjusting the comparative periods presented and (ii) not reassess lease contracts, lease classification and initial direct costs of leases existing at adoption. FCX also elected an accounting policy to not recognize a lease asset and liability for leases with a term of 12 months or less and a purchase option that is not expected to be exercised.

Earnings per Share (Unaudited_2

Earnings per Share (Unaudited) Earnings per Share (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Reconciliation of net income (loss) and weighted-average shares of common stock outstanding	Reconciliations of net (loss) income and weighted-average shares of common stock outstanding for purposes of calculating basic and diluted net (loss) income per share follow (in millions, except per share amounts): Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Net (loss) income from continuing operations $ (235 ) $ 668 $ (234 ) $ 2,535 Net loss (income) from continuing operations attributable to noncontrolling interests 27 (108 ) (16 ) (399 ) Undistributed earnings allocated to participating securities (3 ) (4 ) (3 ) (5 ) Net (loss) income from continuing operations attributable to common stockholders (211 ) 556 (253 ) 2,131 Net income (loss) from discontinued operations attributable to common stockholders 1 (4 ) 2 (19 ) Net (loss) income attributable to common stockholders $ (210 ) $ 552 $ (251 ) $ 2,112 Basic weighted-average shares of common stock outstanding 1,452 1,450 1,451 1,449 Add shares issuable upon exercise or vesting of dilutive stock options and restricted stock units (RSUs) — a 8 — a 9 a Diluted weighted-average shares of common stock outstanding 1,452 1,458 1,451 1,458 Basic net (loss) income per share attributable to common stockholders: Continuing operations $ (0.15 ) $ 0.38 $ (0.17 ) $ 1.47 Discontinued operations — — — (0.01 ) $ (0.15 ) $ 0.38 $ (0.17 ) $ 1.46 Diluted net (loss) income per share attributable to common stockholders: Continuing operations $ (0.15 ) $ 0.38 $ (0.17 ) $ 1.46 Discontinued operations — — — (0.01 ) $ (0.15 ) $ 0.38 $ (0.17 ) $ 1.45 a. Excludes approximately 10 million shares of common stock in third-quarter 2019 , 11 million for the first nine months of 2019 and 2 million for the first nine months of 2018 associated with outstanding stock options with exercise prices less than the average market price of FCX’s common stock and RSUs that were anti-dilutive.

Inventories, Including Long-T_2

Inventories, Including Long-Term Mill and Leach Stockpiles (Unaudited) (Tables)	9 Months Ended
	Sep. 30, 2019
Inventory Disclosure [Abstract]
Schedule of Inventory	The components of inventories follow (in millions): September 30, December 31, 2018 Current inventories: Total materials and supplies, net a $ 1,619 $ 1,528 Mill stockpiles $ 200 $ 282 Leach stockpiles 1,102 1,171 Total current mill and leach stockpiles $ 1,302 $ 1,453 Raw materials (primarily concentrate) $ 292 $ 260 Work-in-process 79 192 Finished goods 1,142 1,326 Total product $ 1,513 $ 1,778 Long-term inventories: Mill stockpiles $ 223 $ 265 Leach stockpiles 1,077 1,049 Total long-term mill and leach stockpiles b $ 1,300 $ 1,314 a. Materials and supplies inventory was net of obsolescence reserves totaling $26 million at September 30, 2019 , and $24 million at December 31, 2018 . b. Estimated metals in stockpiles not expected to be recovered within the next 12 months.

Income Taxes (Unaudited) (Table

Income Taxes (Unaudited) (Tables)	9 Months Ended
	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income before income taxes and equity in an affiliated companies' net earnings	eographic sources of FCX’s benefit from (provision for) income taxes follow (in millions): Nine Months Ended September 30, 2019 2018 U.S. operations $ 73 a $ 2 International operations (254 ) (1,545 ) Total $ (181 ) b $ (1,543 ) a. Includes tax credits totaling $24 million primarily associated with state law changes and settlement of state income tax examinations. b. Includes net tax charges totaling $49 million primarily to adjust deferred taxes on historical balance sheet items in accordance with tax accounting principles.

Debt and Equity (Tables)

Debt and Equity (Tables)	9 Months Ended
	Sep. 30, 2019
Debt Instrument [Line Items]
Schedule of Debt	The components of debt follow (in millions): September 30, December 31, 2018 Senior notes and debentures: Issued by FCX $ 8,600 $ 9,594 Issued by Freeport Minerals Corporation (FMC) 357 358 Cerro Verde credit facility 825 1,023 Other 137 166 Total debt 9,919 11,141 Less current portion of debt (4 ) (17 ) Long-term debt $ 9,915 $ 11,124
Schedule of Long-term Debt Instruments [Table Text Block]	FCX recorded a loss on early extinguishment of debt totaling $21 million in third-quarter 2019 as follows (in millions): Principal Amount Net Adjustments Book Value Redemption/Tender Value Loss FCX 6.875% Senior Notes due 2023 $ 728 $ 34 $ 762 $ 768 $ 6 FCX 4.00% Senior Notes due 2021 405 (2 ) 403 418 15 FCX 3.55% Senior Notes due 2022 12 — 12 12 — $ 1,145 $ 32 $ 1,177 $ 1,198 $ 21

Financial Instruments (Tables)

Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2019
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 (losses) gains recognized in revenues for derivative financial instruments related to commodity contracts that are designated and qualify as fair value hedge transactions, including the unrealized gains (losses) on the related hedged item follows (in millions): Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Copper futures and swap contracts: Unrealized (losses) gains: Derivative financial instruments $ (2 ) $ 7 $ 3 $ (12 ) Hedged item – firm sales commitments 2 (7 ) (3 ) 12 Realized losses: Matured derivative financial instruments (8 ) (19 ) (9 ) (17 )
Schedule of Derivative Instruments	A summary of FCX’s embedded derivatives at September 30, 2019 , follows: Open Positions Average Price Per Unit Maturities Through Contract Market Embedded derivatives in provisional sales contracts: Copper (millions of pounds) 424 $ 2.63 $ 2.59 February 2020 Gold (thousands of ounces) 150 1,510 1,491 November 2019 Embedded derivatives in provisional purchase contracts: Copper (millions of pounds) 97 2.63 2.59 January 2020 Cobalt (millions of pounds) 6 9.81 12.18 December 2019
Realized and unrealized gains (losses) for derivative financial instruments that do not qualify as hedge transactions	A summary of the realized and unrealized (losses) gains recognized in operating income for commodity contracts that do not qualify as hedge transactions, including embedded derivatives, follows (in millions): Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Embedded derivatives in provisional sales contracts: a Copper $ (57 ) $ (93 ) $ (57 ) $ (242 ) Gold and other metals 6 (25 ) 17 (37 ) Copper forward contracts b — 9 (3 ) 17 a. Amounts recorded in revenues. b. Amounts recorded in cost of sales as production and delivery costs.
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	A summary of the fair values of unsettled commodity derivative financial instruments follows (in millions): September 30, December 31, 2018 Commodity Derivative Assets: Derivatives designated as hedging instruments : Copper futures and swap contracts $ — $ — Derivatives not designated as hedging instruments : Embedded derivatives in provisional copper, gold and cobalt sales/purchase contracts 6 23 Total derivative assets $ 6 $ 23 Commodity Derivative Liabilities: Derivatives designated as hedging instruments : Copper futures and swap contracts $ 6 $ 9 Derivatives not designated as hedging instruments : Embedded derivatives in provisional copper, gold and cobalt sales/purchase contracts 36 39 Total derivative liabilities $ 42 $ 48
Offsetting Assets	A summary of these unsettled commodity contracts that are offset in the balance sheets follows (in millions): Assets Liabilities September 30, December 31, 2018 September 30, December 31, 2018 Gross amounts recognized: Embedded derivatives in provisional sales/purchase contracts $ 6 $ 23 $ 36 $ 39 Copper derivatives — — 6 9 6 23 42 48 Less gross amounts of offset: Embedded derivatives in provisional sales/purchase contracts 1 7 1 7 Copper derivatives — — — — 1 7 1 7 Net amounts presented in balance sheet: Embedded derivatives in provisional sales/purchase contracts 5 16 35 32 Copper derivatives — — 6 9 $ 5 $ 16 $ 41 $ 41 Balance sheet classification: Trade accounts receivable $ — $ 3 $ 17 $ 24 Accounts payable and accrued liabilities 5 13 24 17 $ 5 $ 16 $ 41 $ 41
Offsetting Liabilities	A summary of these unsettled commodity contracts that are offset in the balance sheets follows (in millions): Assets Liabilities September 30, December 31, 2018 September 30, December 31, 2018 Gross amounts recognized: Embedded derivatives in provisional sales/purchase contracts $ 6 $ 23 $ 36 $ 39 Copper derivatives — — 6 9 6 23 42 48 Less gross amounts of offset: Embedded derivatives in provisional sales/purchase contracts 1 7 1 7 Copper derivatives — — — — 1 7 1 7 Net amounts presented in balance sheet: Embedded derivatives in provisional sales/purchase contracts 5 16 35 32 Copper derivatives — — 6 9 $ 5 $ 16 $ 41 $ 41 Balance sheet classification: Trade accounts receivable $ — $ 3 $ 17 $ 24 Accounts payable and accrued liabilities 5 13 24 17 $ 5 $ 16 $ 41 $ 41
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	The following table provides a reconciliation of total cash, cash equivalents, restricted cash and restricted cash equivalents presented in the consolidated statements of cash flows (in millions): September 30, December 31, 2018 Balance sheet components: Cash and cash equivalents $ 2,247 $ 4,217 Restricted cash and restricted cash equivalents included in: Other current assets 100 110 Other assets 165 128 Total cash, cash equivalents, restricted cash and restricted cash equivalents presented in the consolidated statements of cash flows $ 2,512 $ 4,455

FAIR VALUE MEASUREMENT (Tables)

FAIR VALUE MEASUREMENT (Tables)	9 Months Ended
	Sep. 30, 2019
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 net asset value (NAV) as a practical expedient), other than cash and cash equivalents, restricted cash, restricted cash equivalents, accounts receivable, accounts payable and accrued liabilities, and dividends payable (refer to Note 6) follows (in millions): At September 30, 2019 Carrying Fair Value Amount Total NAV Level 1 Level 2 Level 3 Assets Investment securities: a,b U.S. core fixed income fund $ 27 $ 27 $ 27 $ — $ — $ — Equity securities 4 4 — 4 — — Total 31 31 27 4 — — Legally restricted funds: a U.S. core fixed income fund 59 59 59 — — — Government mortgage-backed securities 41 41 — — 41 — Government bonds and notes 38 38 — — 38 — Corporate bonds 35 35 — — 35 — Asset-backed securities 12 12 — — 12 — Collateralized mortgage-backed securities 6 6 — — 6 — Money market funds 4 4 — 4 — — Municipal bonds 1 1 — — 1 — Total 196 196 59 4 133 — Derivatives: Embedded derivatives in provisional copper, gold and cobalt sales/purchase contracts in a gross asset position c 6 6 — — 6 — Contingent consideration for the sales of TFHL and onshore California oil and gas properties a 67 67 — — 67 — Total $ 73 $ 73 $ — $ — $ 73 $ — Contingent consideration for the sale of the Deepwater GOM oil and gas properties a 128 110 — — — 110 Liabilities Derivatives: c Embedded derivatives in provisional copper, gold and cobalt sales/purchase contracts in a gross liability position $ 36 $ 36 $ — $ — $ 36 $ — Copper futures and swap contracts 6 6 — 5 1 — Total 42 42 — 5 37 — Long-term debt, including current portion d 9,919 9,872 — — 9,872 — At December 31, 2018 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 4 4 — 4 — — Total 29 29 25 4 — — Legally restricted funds: a U.S. core fixed income fund 55 55 55 — — — Government mortgage-backed securities 38 38 — — 38 — Government bonds and notes 36 36 — — 36 — Corporate bonds 28 28 — — 28 — Asset-backed securities 11 11 — — 11 — Collateralized mortgage-backed securities 7 7 — — 7 — Money market funds 5 5 — 5 — — Municipal bonds 1 1 — — 1 — Total 181 181 55 5 121 — Derivatives: Embedded derivatives in provisional copper, gold and cobalt sales/purchase contracts in a gross asset position c 23 23 — — 23 — Contingent consideration for the sales of TFHL and onshore California oil and gas properties a 73 73 — — 73 — Total 96 96 — — 96 — Contingent consideration for the sale of the Deepwater GOM oil and gas properties a 143 127 — — — 127 Liabilities Derivatives: c Embedded derivatives in provisional copper, gold and cobalt sales/purchase contracts in a gross liability position $ 39 $ 39 $ — $ — $ 39 $ — Copper futures and swap contracts 9 9 — 7 2 — Total 48 48 — 7 41 — Long-term debt, including current portion d 11,141 10,238 — — 10,238 — 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 $100 million at September 30, 2019 , and $109 million at December 31, 2018 , and (ii) other assets of $164 million at September 30, 2019 , and $126 million at December 31, 2018 , primarily associated with an assurance bond to support PT-FI’s commitment for the development of a new smelter in Indonesia and PT-FI’s closure and reclamation guarantees. c. Refer to Note 6 for further discussion and balance sheet classifications. d. Recorded at cost except for debt assumed in acquisitions, which are recorded at fair value at the respective acquisition dates.
Summary of Unobservable Input Reconciliation	A summary of the changes in the fair value of FCX’s Level 3 instrument, contingent consideration for the sale of the Deepwater GOM oil and gas properties, during the first nine months of 2019 follows (in millions): Fair value at January 1, 2019 $ 127 Net unrealized loss related to assets still held at the end of the period (1 ) Settlements (16 ) Fair value at September 30, 2019 $ 110

Business Segments (Tables)

Business Segments (Tables)	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Revenue from External Customers by Products and Services	FCX’s revenues attributable to the products it sold for the third quarters and first nine months of 2019 and 2018 follow (in millions): Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Copper: Concentrate $ 952 $ 1,743 $ 3,251 $ 5,093 Cathode 878 1,015 2,696 3,383 Rod and other refined copper products 537 561 1,560 1,899 Purchased copper a 210 256 872 776 Gold 415 1,073 1,111 2,814 Molybdenum 295 286 910 882 Other b 202 381 697 1,179 Adjustments to revenues: Treatment charges (87 ) (162 ) (292 ) (433 ) Royalty expense c (24 ) (75 ) (73 ) (217 ) Export duties d (174 ) (52 ) (201 ) (153 ) Revenues from contracts with customers 3,204 5,026 10,531 15,223 Embedded derivatives e (51 ) (118 ) (40 ) (279 ) Total consolidated revenues $ 3,153 $ 4,908 $ 10,491 $ 14,944 a. FCX purchases copper cathode primarily for processing by its Rod & Refining operations. b. Primarily includes revenues associated with cobalt and silver. c. Reflects royalties on sales from PT-FI and Cerro Verde that will vary with the volume of metal sold and prices. d. Reflects PT-FI export duties. The third quarter and first nine months of 2019 include charges totaling $166 million primarily associated with an unfavorable Indonesia Supreme Court ruling related to certain disputed export duties (refer to Note 12). e. Refer to Note 6 for discussion of embedded derivatives related to FCX’s provisionally priced concentrate and cathode sales contracts.
Schedule of financial information by business segment	Financial Information by Business Segment (In millions) Atlantic Corporate, North America Copper Mines South America Copper Other Cerro Indonesia Molybdenum Rod & Smelting & Elimi- FCX Morenci Other Total Verde Other Total Mining Mines Refining & Refining nations Total Three Months Ended September 30, 2019 Revenues: Unaffiliated customers $ 61 $ 19 $ 80 $ 504 $ 117 $ 621 $ 488 a $ — $ 1,104 $ 437 $ 423 b $ 3,153 Intersegment 462 598 1,060 65 — 65 — 90 8 — (1,223 ) — Production and delivery 377 519 896 417 111 528 399 85 1,111 421 (775 ) 2,665 Depreciation, depletion and amortization 45 46 91 93 16 109 77 16 2 7 20 322 Metals inventory adjustments 1 37 38 2 — 2 — 1 — — — 41 Selling, general and administrative expenses 1 1 2 2 — 2 31 — — 5 66 106 Mining exploration and research expenses — — — — — — — — — — 25 25 Environmental obligations and shutdown costs — — — — — — — — — — 20 20 Net loss on sales of assets — — — — — — — — — — 12 12 Operating income (loss) 99 14 113 55 (10 ) 45 (19 ) (12 ) (1 ) 4 (168 ) (38 ) Interest expense, net — 1 1 25 — 25 1 — — 5 91 123 Provision for (benefit from) income taxes — — — 29 4 33 (8 ) — — (1 ) 67 91 Total assets at September 30, 2019 2,943 5,005 7,948 8,500 1,723 10,223 16,447 1,786 236 680 3,623 40,943 Capital expenditures 61 163 224 61 7 68 334 5 1 9 25 666 Three Months Ended September 30, 2018 Revenues: Unaffiliated customers $ 30 $ 2 $ 32 $ 687 $ 122 $ 809 $ 1,703 a $ — $ 1,212 $ 579 $ 573 b $ 4,908 Intersegment 467 587 1,054 71 — 71 61 101 8 — (1,295 ) — Production and delivery 304 485 789 519 105 624 522 76 1,215 559 (716 ) 3,069 Depreciation, depletion and amortization 43 45 88 122 20 142 181 20 3 6 18 458 Selling, general and administrative expenses 1 — 1 3 — 3 29 — — 5 63 101 Mining exploration and research expenses — 1 1 — — — — — — — 26 27 Environmental obligations and shutdown costs — 2 2 — — — — — — — 6 8 Net gain on sales of assets — — — — — — — — — — (70 ) (70 ) Operating income (loss) 149 56 205 114 (3 ) 111 1,032 5 2 9 (49 ) 1,315 Interest expense, net 1 — 1 15 — 15 — — — 7 120 143 Provision for income taxes — — — 37 5 42 424 — — — 56 522 Total assets at September 30, 2018 2,826 4,465 7,291 8,613 1,709 10,322 11,764 1,808 284 835 5,445 37,749 Capital expenditures 63 118 181 47 3 50 246 4 1 3 22 507 a. Includes PT-FI's sales to PT Smelting totaling $475 million in third-quarter 2019 and $827 million in third-quarter 2018 . 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. (In millions) Atlantic Corporate, North America Copper Mines South America Mining Copper Other Cerro Indonesia Molybdenum Rod & Smelting & Elimi- FCX Morenci Other Total Verde Other Total Mining Mines Refining & Refining nations Total Nine Months Ended September 30, 2019 Revenues: Unaffiliated customers $ 89 $ 183 $ 272 $ 1,793 $ 343 $ 2,136 $ 1,776 a $ — $ 3,403 $ 1,554 $ 1,350 b $ 10,491 Intersegment 1,411 1,611 3,022 262 — 262 57 290 18 5 (3,654 ) — Production and delivery 1,020 1,443 2,463 1,311 337 1,648 1,509 234 3,415 1,488 (2,173 ) 8,584 Depreciation, depletion and amortization 128 133 261 294 48 342 281 50 7 21 59 1,021 Metals inventory adjustments 1 38 39 2 — 2 — 1 — — 58 100 Selling, general and administrative expenses 2 2 4 6 — 6 91 — — 15 199 315 Mining exploration and research expenses — 1 1 — — — — — — — 82 83 Environmental obligations and shutdown costs — — — — — — — — — — 85 85 Net gain on sales of assets — — — — — — — — — — (13 ) (13 ) Operating income (loss) 349 177 526 442 (42 ) 400 (48 ) 5 (1 ) 35 (601 ) 316 Interest expense, net 2 1 3 79 — 79 2 — — 17 300 401 Provision for (benefit from) income taxes — — — 159 (10 ) 149 (9 ) — — 2 39 181 Capital expenditures 172 469 641 160 16 176 992 11 3 18 76 1,917 Nine Months Ended September 30, 2018 Revenues: Unaffiliated customers $ 58 $ 30 $ 88 $ 2,031 $ 443 $ 2,474 $ 4,863 a $ — $ 3,984 $ 1,758 $ 1,777 b $ 14,944 Intersegment 1,636 1,917 3,553 273 — 273 114 307 24 2 (4,273 ) — Production and delivery 892 1,475 2,367 1,391 354 1,745 1,404 214 3,992 1,694 (2,626 ) 8,790 Depreciation, depletion and amortization 133 141 274 336 66 402 534 60 8 20 53 1,351 Metals inventory adjustments — 2 2 — — — — — — — — 2 Selling, general and administrative expenses 3 2 5 7 — 7 96 — — 16 217 341 Mining exploration and research expenses — 2 2 — — — — — — — 70 72 Environmental obligations and shutdown costs — 2 2 — — — — — — — 74 76 Net gain on sales of assets — — — — — — — — — — (126 ) (126 ) Operating income (loss) 666 323 989 570 23 593 2,943 33 8 30 (158 ) 4,438 Interest expense, net 3 — 3 48 — 48 — — — 18 367 436 Provision for income taxes — — — 207 15 222 1,254 — — 1 66 1,543 Capital expenditures 151 262 413 178 10 188 695 6 3 10 76 1,391 a. Includes PT-FI’s sales to PT Smelting totaling $1.4 billion for the first nine months of 2019 and $2.1 billion for the first nine months of 2018 . 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.

Guarantor Financial Statement_2

Guarantor Financial Statements (Tables)	9 Months Ended
	Sep. 30, 2019
Guarantor Financial Statements [Abstract]
Condensed Consolidating Balance Sheets [Table Text Block]	CONDENSED CONSOLIDATING BALANCE SHEET September 30, 2019 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX ASSETS Current assets $ 46 $ 606 $ 8,298 $ (603 ) $ 8,347 Property, plant, equipment and mine development costs, net 18 5 29,300 7 29,330 Investments in consolidated subsidiaries 17,523 — — (17,523 ) — Other assets 1,340 17 3,008 (1,099 ) 3,266 Total assets $ 18,927 $ 628 $ 40,606 $ (19,218 ) $ 40,943 LIABILITIES AND EQUITY Current liabilities $ 312 $ 42 $ 3,662 $ (635 ) $ 3,381 Long-term debt, less current portion 8,600 7,215 6,003 (11,903 ) 9,915 Deferred income taxes 498 a — 3,747 — 4,245 Environmental and asset retirement obligations, less current portion — 237 3,321 — 3,558 Investments in consolidated subsidiaries — 630 10,837 (11,467 ) — Other liabilities 73 3,341 2,376 (3,488 ) 2,302 Total liabilities 9,483 11,465 29,946 (27,493 ) 23,401 Equity: Stockholders’ equity 9,444 (10,837 ) 8,028 2,809 9,444 Noncontrolling interests — — 2,632 5,466 8,098 Total equity 9,444 (10,837 ) 10,660 8,275 17,542 Total liabilities and equity $ 18,927 $ 628 $ 40,606 $ (19,218 ) $ 40,943 a. All U.S.-related deferred income taxes are recorded at the parent company. CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2018 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX ASSETS Current assets $ 309 $ 620 $ 10,376 $ (585 ) $ 10,720 Property, plant, equipment and mine development costs, net 19 7 27,984 — 28,010 Investments in consolidated subsidiaries 19,064 — — (19,064 ) — Other assets 880 23 3,218 (635 ) 3,486 Total assets $ 20,272 $ 650 $ 41,578 $ (20,284 ) $ 42,216 LIABILITIES AND EQUITY Current liabilities $ 245 $ 34 $ 3,667 $ (617 ) $ 3,329 Long-term debt, less current portion 9,594 6,984 5,649 (11,103 ) 11,124 Deferred income taxes 524 a — 3,508 — 4,032 Environmental and asset retirement obligations, less current portion — 227 3,382 — 3,609 Investments in consolidated subsidiaries — 578 10,513 (11,091 ) — Other liabilities 111 3,340 2,265 (3,486 ) 2,230 Total liabilities 10,474 11,163 28,984 (26,297 ) 24,324 Equity: Stockholders’ equity 9,798 (10,513 ) 9,912 601 9,798 Noncontrolling interests — — 2,682 5,412 8,094 Total equity 9,798 (10,513 ) 12,594 6,013 17,892 Total liabilities and equity $ 20,272 $ 650 $ 41,578 $ (20,284 ) $ 42,216 a. All U.S.-related deferred income taxes are recorded at the parent company.
Condensed Consolidating Statements of Income [Table Text Block]	CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE (LOSS) INCOME Three Months Ended September 30, 2019 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 11 $ 3,142 $ — $ 3,153 Total costs and expenses 5 28 3,165 (7 ) 3,191 Operating (loss) income (5 ) (17 ) (23 ) 7 (38 ) Interest expense, net (79 ) (79 ) (98 ) 133 (123 ) Other (expense) income, net (52 ) — 36 28 12 (Loss) income before income taxes and equity in affiliated companies’ net earnings (losses) (136 ) (96 ) (85 ) 168 (149 ) (Provision for) benefit from income taxes (26 ) 22 (85 ) (2 ) (91 ) Equity in affiliated companies’ net earnings (losses) (45 ) (36 ) (105 ) 191 5 Net (loss) income from continuing operations (207 ) (110 ) (275 ) 357 (235 ) Net income from discontinued operations — — 1 — 1 Net (loss) income (207 ) (110 ) (274 ) 357 (234 ) Net loss (income) attributable to noncontrolling interests — — 22 5 27 Net (loss) income attributable to common stockholders $ (207 ) $ (110 ) $ (252 ) $ 362 $ (207 ) Other comprehensive income (loss) 12 — 12 (12 ) 12 Total comprehensive (loss) income $ (195 ) $ (110 ) $ (240 ) $ 350 $ (195 ) Three Months Ended September 30, 2018 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 15 $ 4,893 $ — $ 4,908 Total costs and expenses 7 (2 ) 3,588 — 3,593 Operating (loss) income (7 ) 17 1,305 — 1,315 Interest expense, net (93 ) (79 ) (96 ) 125 (143 ) Other income (expense), net 124 — 15 (125 ) 14 Income (loss) before income taxes and equity in affiliated companies’ net earnings (losses) 24 (62 ) 1,224 — 1,186 (Provision for) benefit from income taxes (188 ) 11 (345 ) — (522 ) Equity in affiliated companies’ net earnings (losses) 720 (6 ) (54 ) (656 ) 4 Net income (loss) from continuing operations 556 (57 ) 825 (656 ) 668 Net loss from discontinued operations — — (4 ) — (4 ) Net income (loss) 556 (57 ) 821 (656 ) 664 Net income attributable to noncontrolling interests — — (47 ) (61 ) (108 ) Net income (loss) attributable to common stockholders $ 556 $ (57 ) $ 774 $ (717 ) $ 556 Other comprehensive income (loss) 11 — 11 (11 ) 11 Total comprehensive income (loss) $ 567 $ (57 ) $ 785 $ (728 ) $ 567 CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE (LOSS) INCOME Nine Months Ended September 30, 2019 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 27 $ 10,464 $ — $ 10,491 Total costs and expenses 22 54 10,106 (7 ) 10,175 Operating (loss) income (22 ) (27 ) 358 7 316 Interest expense, net (252 ) (247 ) (309 ) 407 (401 ) Other income (expense), net 12 — 59 (46 ) 25 (Loss) income before income taxes and equity in affiliated companies’ net earnings (losses) (262 ) (274 ) 108 368 (60 ) (Provision for) benefit from income taxes (34 ) 62 (207 ) (2 ) (181 ) Equity in affiliated companies’ net earnings (losses) 48 (52 ) (257 ) 268 7 Net (loss) income from continuing operations (248 ) (264 ) (356 ) 634 (234 ) Net income from discontinued operations — — 2 — 2 Net (loss) income (248 ) (264 ) (354 ) 634 (232 ) Net income attributable to noncontrolling interests — — (20 ) 4 (16 ) Net (loss) income attributable to common stockholders $ (248 ) $ (264 ) $ (374 ) $ 638 $ (248 ) Other comprehensive income (loss) 35 — 35 (35 ) 35 Total comprehensive (loss) income $ (213 ) $ (264 ) $ (339 ) $ 603 $ (213 ) Nine Months Ended September 30, 2018 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 46 $ 14,898 $ — $ 14,944 Total costs and expenses 20 (10 ) 10,506 (10 ) 10,506 Operating (loss) income (20 ) 56 4,392 10 4,438 Interest expense, net (294 ) (219 ) (273 ) 350 (436 ) Other income (expense), net 357 2 62 (350 ) 71 Income (loss) before income taxes and equity in affiliated companies’ net earnings (losses) 43 (161 ) 4,181 10 4,073 (Provision for) benefit from income taxes (282 ) 33 (1,292 ) (2 ) (1,543 ) Equity in affiliated companies’ net earnings (losses) 2,356 (10 ) (133 ) (2,208 ) 5 Net income (loss) from continuing operations 2,117 (138 ) 2,756 (2,200 ) 2,535 Net loss from discontinued operations — — (19 ) — (19 ) Net income (loss) 2,117 (138 ) 2,737 (2,200 ) 2,516 Net income attributable to noncontrolling interests — — (220 ) (179 ) (399 ) Net income (loss) attributable to common stockholders $ 2,117 $ (138 ) $ 2,517 $ (2,379 ) $ 2,117 Other comprehensive income (loss) 34 — 34 (34 ) 34 Total comprehensive income (loss) $ 2,151 $ (138 ) $ 2,551 $ (2,413 ) $ 2,151
Condensed Consolidating Statements of Cash Flows [Table Text Block]	CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Nine Months Ended September 30, 2019 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Net cash provided by (used in) operating activities $ 352 $ (326 ) $ 1,286 $ — $ 1,312 Cash flow from investing activities: Capital expenditures — (4 ) (1,913 ) — (1,917 ) Intercompany loans (801 ) — — 801 — Dividends from (investments in) consolidated subsidiaries 1,697 — 70 (1,769 ) (2 ) Asset sales and other, net (1 ) 98 (3 ) — 94 Net cash provided by (used in) investing activities 895 94 (1,846 ) (968 ) (1,825 ) Cash flow from financing activities: Proceeds from debt 1,200 — 481 — 1,681 Repayments of debt (2,202 ) — (715 ) — (2,917 ) Intercompany loans — 232 570 (802 ) — Cash dividends paid and contributions received, net (218 ) — (1,696 ) 1,750 (164 ) Other, net (27 ) — (23 ) 20 (30 ) Net cash (used in) provided by financing activities (1,247 ) 232 (1,383 ) 968 (1,430 ) Net decrease in cash, cash equivalents, restricted cash and restricted cash equivalents — — (1,943 ) — (1,943 ) Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year — — 4,455 — 4,455 Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period $ — $ — $ 2,512 $ — $ 2,512 Nine Months Ended September 30, 2018 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Net cash (used in) provided by operating activities $ (181 ) $ (285 ) $ 4,391 $ — $ 3,925 Cash flow from investing activities: Capital expenditures (2 ) — (1,389 ) — (1,391 ) Intercompany loans (558 ) — — 558 — Dividends from (investments in) consolidated subsidiaries 2,726 — 65 (2,791 ) — Asset sales and other, net 4 3 (88 ) — (81 ) Net cash provided by (used in) investing activities 2,170 3 (1,412 ) (2,233 ) (1,472 ) Cash flow from financing activities: Proceeds from debt — — 475 — 475 Repayments of debt (1,826 ) (52 ) (532 ) — (2,410 ) Intercompany loans — 327 231 (558 ) — Cash dividends paid and contributions received, net (145 ) — (3,016 ) 2,775 (386 ) Other, net (18 ) — (17 ) 16 (19 ) Net cash (used in) provided by financing activities (1,989 ) 275 (2,859 ) 2,233 (2,340 ) Net (decrease) increase in cash, cash equivalents, restricted cash and restricted cash equivalents — (7 ) 120 — 113 Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year — 7 4,703 — 4,710 Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period $ — $ — $ 4,823 $ — $ 4,823

New Accounting Standard (Tables

New Accounting Standard (Tables)	9 Months Ended
	Sep. 30, 2019
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Summary of components of leases presented in the consolidated balance sheet	The components of FCX’s leases presented in the consolidated balance sheet as of September 30, 2019 , follow (in millions): Lease right-of-use assets (included in property, plant, equipment and mine development costs, net) $ 241 Short-term lease liabilities (included in accounts payable and accrued liabilities) $ 45 Long-term lease liabilities (included in other liabilities) 211 Total lease liabilities $ 256
Schedule of operating lease costs	Operating lease costs, primarily included in production and delivery expense in the consolidated statement of operations, are as follows (in millions): Three Months Ended Nine Months Ended September 30, 2019 September 30, 2019 Operating leases $ 11 $ 44 Variable and short-term leases 19 59 Total operating lease costs $ 30 $ 103
Schedule of future minimum payments for leases	The future minimum payments for leases presented in the consolidated balance sheet at September 30, 2019 , follow (in millions): Remaining three months of 2019 $ 14 2020 55 2021 42 2022 35 2023 31 Thereafter 155 Total payments 332 Less amount representing interest (76 ) Present value of net minimum lease payments 256 Less current portion (45 ) Long-term portion $ 211

General Information (Unaudite_2

General Information (Unaudited) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2019	Sep. 30, 2018	Jan. 01, 2023	Dec. 21, 2018
Net income (loss)	$ (234)	$ 664	$ (232)		$ 2,516
Freeport Cobalt | Held for sale
Assets	201		201	$ 201
Liabilities	76		76	76
Consideration	150		150	150
PT Freeport Indonesia
Net income (loss)	24		28	164
Investment owned, percent							81.00%
Net income (loss), FCX	$ 20		$ 23	$ 133
PT Freeport Indonesia | Forecast
Investment owned, percent						48.76%
PT-FI | PT Freeport Indonesia
Investment owned, percent							19.00%
Lundin Mining Corporation | Freeport Cobalt | Held for sale
Proceeds from transaction, percent	30.00%
PT Freeport Indonesia | PT Indonesia Asahan Aluminium (Persero) (Inalum) [Member] | Forecast
Investment owned, percent						26.24%
PT Freeport Indonesia | PT Indonesia Papua Metal dan Mineral [Member] | Forecast
Investment owned, percent						25.00%

Earnings per Share (Unaudited_3

Earnings per Share (Unaudited) Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Earnings Per Share [Abstract]
Net (loss) income from continuing operations	$ (235)	$ 668	$ (234)	$ 2,535
Net loss (income) from continuing operations attributable to noncontrolling interests	27	(108)	(16)	(399)
Undistributed earnings allocated to participating securities	(3)	(4)	(3)	(5)
Net (loss) income from continuing operations attributable to common stockholders	(211)	556	(253)	2,131
Net income (loss) from discontinued operations attributable to common stockholders	1	(4)	2	(19)
Net (loss) income attributable to common stockholders	$ (210)	$ 552	$ (251)	$ 2,112
Basic weighted-average shares of common stock outstanding	1,452	1,450	1,451	1,449
Add shares issuable upon exercise or vesting of dilutive stock options and restricted stock units (RSUs)	0	8	0	9
Diluted weighted-average shares of common stock outstanding	1,452	1,458	1,451	1,458
Basic net (loss) income per share attributable to common stockholders:
Continuing operations (in dollars per share)	$ (0.15)	$ 0.38	$ (0.17)	$ 1.47
Discontinued operations (in dollars per share)	0	0	0	(0.01)
Earnings per share, basic (in dollars per share)	(0.15)	0.38	(0.17)	1.46
Diluted net (loss) income per share attributable to common stockholders:
Continuing operations (in dollars per share)	(0.15)	0.38	(0.17)	1.46
Discontinued operations (in dollars per share)	0	0	0	(0.01)
Earnings per share, diluted (in dollars per share)	$ (0.15)	$ 0.38	$ (0.17)	$ 1.45
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	10		11	2
Dilutive Securities Excluded from Computation of EPS Amount	43	38	42	35

Inventories, Including Long-T_3

Inventories, Including Long-Term Mill and Leach Stockpiles (Unaudited) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Components of Inventories [Line Items]
Total materials and supplies, net	$ 1,619		$ 1,619		$ 1,528
Mill stockpiles, current	200		200		282
Leach stockpiles, current	1,102		1,102		1,171
Total current mill and leach stockpiles	1,302		1,302		1,453
Raw materials (primarily concentrate)	292		292		260
Work-in-process	79		79		192
Finished goods	1,142		1,142		1,326
Total product	1,513		1,513		1,778
Mill stockpiles, noncurrent	223		223		265
Leach stockpiles, noncurrent	1,077		1,077		1,049
Total long-term mill and leach stockpiles	1,300		1,300		1,314
Inventory obsolescence reserves	26		26		$ 24
Inventory Write-down	$ 41	$ 0	100	$ 2
Cobalt
Components of Inventories [Line Items]
Inventory Write-down			58
Copper
Components of Inventories [Line Items]
Inventory Write-down			$ 41

Income Taxes (Unaudited) (Detai

Income Taxes (Unaudited) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Consolidated effective income tax rate (percent)			(302.00%)	38.00%
Schedule Of Income Taxes [Line Items]
U.S. operations			$ 73	$ 2
International operations			(254)	(1,545)
Total	$ (91)	$ (522)	(181)	$ (1,543)
Historical deferred tax adjustments			(49)
Settlement of state income tax examination	$ (24)		$ (24)

Debt and Equity (Details)

Debt and Equity (Details) - USD ($)	Sep. 25, 2019	Aug. 15, 2019	Sep. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	May 02, 2019	Mar. 27, 2019	Dec. 31, 2018
Total Debt [Abstract]
Total debt			$ 9,919,000,000			$ 9,919,000,000				$ 11,141,000,000
Current portion of debt			(4,000,000)			(4,000,000)				(17,000,000)
Long-term debt, less current portion			9,915,000,000			9,915,000,000				11,124,000,000
Proceeds from repayment of debt		$ 1,187,000,000
Net gain (loss) on exchanges and early extinguishment of debt			(21,000,000)		$ 0	(27,000,000)	$ 8,000,000
Interest costs			$ 163,000,000		$ 167,000,000	$ 508,000,000	$ 508,000,000
Dividends declared per share of common stock (in dollars per share)	$ 0.05		$ 0.05		$ 0.05	$ 0.15	$ 0.15
Senior Notes due 2027, 5.00%
Total Debt [Abstract]
Debt		$ 600,000,000
Stated interest rate		5.00%
Senior Notes due 2029, 5.25%
Total Debt [Abstract]
Debt		$ 600,000,000
Stated interest rate		5.25%
Senior Notes due 2023, 6.875%
Total Debt [Abstract]
Stated interest rate		6.875%
Senior Notes due 2021, 4.00%
Total Debt [Abstract]
Stated interest rate		4.00%
Senior Notes due 2022, 3.55%
Total Debt [Abstract]
Stated interest rate		3.55%
Property, Plant and Equipment [Member]
Total Debt [Abstract]
Interest costs capitalized			$ 40,000,000		$ 24,000,000	$ 107,000,000	$ 72,000,000
Line of Credit [Member] | Cerro Verde [Member]
Total Debt [Abstract]
Total debt			825,000,000			825,000,000				1,023,000,000
Line of Credit [Member] | Letter of Credit [Member]
Total Debt [Abstract]
Letter of credit			13,000,000			13,000,000
Revolving credit facility, availability			1,500,000,000			1,500,000,000
Line of Credit [Member] | Revolving Credit Facility [Member]
Total Debt [Abstract]
Debt			0			0
Revolving credit facility, availability			3,500,000,000			3,500,000,000
Line of Credit [Member] | Revolving Credit Facility [Member] | Amended Credit Facility [Member]
Total Debt [Abstract]
Revolving credit facility, availability								$ 3,500,000,000
Line of Credit [Member] | Revolving Credit Facility [Member] | Amended Credit Facility, Maturing April 20, 2024 [Member]
Total Debt [Abstract]
Revolving credit facility, availability								3,260,000,000
Line of Credit [Member] | Revolving Credit Facility [Member] | Amended Credit Facility, Maturing April 20, 2023 [Member]
Total Debt [Abstract]
Revolving credit facility, availability								$ 240,000,000
Senior Notes [Member]
Total Debt [Abstract]
Debt, principal			1,145,000,000			1,145,000,000
Net gain (loss) on exchanges and early extinguishment of debt				$ (1,000,000)		21,000,000
Repayments of credit facility				200,000,000
Net Adjustments			32,000,000			32,000,000
Book Value						1,177,000,000
Redemption/Tender Value						1,198,000,000
Senior Notes [Member] | 3.100% Senior Notes due March 2020 [Member]
Total Debt [Abstract]
Debt, principal									$ 1,000,000,000
Stated interest rate									3.10%
Net gain (loss) on exchanges and early extinguishment of debt				$ (5,000,000)
Senior Notes [Member] | Senior Notes due 2023, 6.875%
Total Debt [Abstract]
Debt, principal			728,000,000			728,000,000
Net gain (loss) on exchanges and early extinguishment of debt						6,000,000
Net Adjustments			34,000,000			34,000,000
Book Value						762,000,000
Redemption/Tender Value						768,000,000
Senior Notes [Member] | Senior Notes due 2021, 4.00%
Total Debt [Abstract]
Debt, principal			405,000,000			405,000,000
Net gain (loss) on exchanges and early extinguishment of debt						15,000,000
Net Adjustments			(2,000,000)			(2,000,000)
Book Value						403,000,000
Redemption/Tender Value						418,000,000
Senior Notes [Member] | Senior Notes due 2023, 6.875%
Total Debt [Abstract]
Debt, principal			12,000,000			12,000,000
Net gain (loss) on exchanges and early extinguishment of debt						0
Net Adjustments			0			0
Book Value						12,000,000
Redemption/Tender Value						12,000,000
Senior Notes [Member] | FCX [Member]
Total Debt [Abstract]
Total debt			8,600,000,000			8,600,000,000				9,594,000,000
Debentures [Member] | Freeport McMoRan Corporation [Member]
Total Debt [Abstract]
Total debt			357,000,000			357,000,000				358,000,000
Other Debt, Including Capital Leases and Short Term Borrowings [Member]
Total Debt [Abstract]
Total debt			$ 137,000,000			$ 137,000,000				$ 166,000,000

Financial Instruments (Unrealiz

Financial Instruments (Unrealized gains losses) (Details) oz in Thousands, lb in Millions, $ in Millions	Sep. 30, 2019lboz$ / lb$ / oz$ / lb	Sep. 30, 2019USD ($)$ / lb$ / oz$ / lb	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)$ / lb$ / oz$ / lb	Sep. 30, 2018USD ($)
Not Designated as Hedging Instrument [Member] | Amounts recorded in Sales [Member]
Realized gains (losses):
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net | $		$ (51)	$ (118)	$ (40)	$ (279)
Commodity Contract [Member]
Unrealized gains (losses):
Derivative financial instruments | $		(2)	7	3	(12)
Hedged item – firm sales commitments | $		2	(7)	(3)	12
Realized gains (losses):
Matured derivative financial instruments | $		$ (8)	(19)	$ (9)	(17)
Commodity Contract [Member] | Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Nonmonetary Notional Amount, Mass | lb	72
Derivative, Average Forward Price	2.66	2.66		2.66
Copper Forward Contracts [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Nonmonetary Notional Amount, Mass | lb	1
Derivative, Average Forward Price	2.65	2.65		2.65
Copper Forward Contracts [Member] | Not Designated as Hedging Instrument [Member] | Amounts recorded in Cost of Sales
Realized gains (losses):
Matured derivative financial instruments | $		$ 0	9	$ (3)	17
Copper | Not Designated as Hedging Instrument [Member] | Amounts recorded in Sales [Member]
Realized gains (losses):
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net | $		$ (57)	(93)	$ (57)	(242)
Copper | Short [Member] | Embedded Derivative Financial Instruments [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Nonmonetary Notional Amount, Mass | lb	424
Derivative, Average Forward Price	2.63	2.63		2.63
Realized gains (losses):
Derivative Average Market Price	2.59	2.59		2.59
Copper | Long [Member] | Embedded Derivative Financial Instruments [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Nonmonetary Notional Amount, Mass | lb	97
Derivative, Average Forward Price	2.63	2.63		2.63
Realized gains (losses):
Derivative Average Market Price	2.59	2.59		2.59
Gold | Short [Member] | Embedded Derivative Financial Instruments [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Nonmonetary Notional Amount, Mass | oz	150
Derivative, Average Forward Price | $ / oz	1,510	1,510		1,510
Realized gains (losses):
Derivative Average Market Price | $ / oz	1,491	1,491		1,491
gold and other [Member] | Not Designated as Hedging Instrument [Member] | Amounts recorded in Sales [Member]
Realized gains (losses):
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net | $		$ 6	$ (25)	$ 17	$ (37)
Cobalt | Long [Member] | Embedded Derivative Financial Instruments [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Nonmonetary Notional Amount, Mass | lb	6
Derivative, Average Forward Price	9.81	9.81		9.81
Realized gains (losses):
Derivative Average Market Price	12.18	12.18		12.18

Financial Instruments (Unsettle

Financial Instruments (Unsettled Derivatives) (Details) oz in Thousands, lb in Millions, $ in Millions	Sep. 30, 2019USD ($)lboz$ / lb$ / oz$ / lb	Sep. 30, 2019USD ($)$ / lb$ / oz$ / lb	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)$ / lb$ / oz$ / lb	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 6	$ 6		$ 6		$ 23
Derivative Liability, Fair Value, Gross Liability	42	42		42		48
Derivative Asset, Fair Value, Gross Liability	1	1		1		7
Derivative Liability, Fair Value, Gross Asset	1	1		1		7
Derivative Asset	5	5		5		16
Derivative Liability	41	41		41		41
Trade accounts receivable [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset	0	0		0		3
Derivative Liability	17	17		17		24
Accounts Payable and Accrued Liabilities
Derivatives, Fair Value [Line Items]
Derivative Asset	5	5		5		13
Derivative Liability	24	24		24		17
Commodity Contract [Member]
Derivatives, Fair Value [Line Items]
Derivative, Gain (Loss) on Derivative, Net		(8)	$ (19)	(9)	$ (17)
Derivative Asset, Fair Value, Gross Asset	0	0		0		0
Derivative Liability, Fair Value, Gross Liability	6	6		6		9
Derivative Asset, Fair Value, Gross Liability	0	0		0		0
Derivative Liability, Fair Value, Gross Asset	0	0		0		0
Derivative Asset	0	0		0		0
Derivative Liability	6	6		6		9
Embedded Derivative Financial Instruments [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	6	6		6		23
Derivative Liability, Fair Value, Gross Liability	36	36		36		39
Derivative Asset, Fair Value, Gross Liability	1	1		1		7
Derivative Liability, Fair Value, Gross Asset	1	1		1		7
Derivative Asset	5	5		5		16
Derivative Liability	35	35		35		32
Designated as Hedging Instrument [Member] | Commodity Contract [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 0	$ 0		$ 0		0
Derivative, Nonmonetary Notional Amount, Mass | lb	72
Derivative, Average Forward Price | $ / lb	2.66	2.66		2.66
Not Designated as Hedging Instrument [Member] | Embedded Derivative Financial Instruments [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 6	$ 6		$ 6		23
Derivative Liability, Fair Value, Gross Liability	$ 36	$ 36		$ 36		39
Not Designated as Hedging Instrument [Member] | Forward Contracts [Member]
Derivatives, Fair Value [Line Items]
Derivative, Nonmonetary Notional Amount, Mass | lb	1
Derivative, Average Forward Price | $ / lb	2.65	2.65		2.65
Future [Member] | Not Designated as Hedging Instrument [Member] | FMC's Copper Futures and Swap Contracts [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability	$ 6	$ 6		$ 6		$ 9
Copper | Short [Member] | Not Designated as Hedging Instrument [Member] | Embedded Derivative Financial Instruments [Member]
Derivatives, Fair Value [Line Items]
Derivative Average Market Price | $ / lb	2.59	2.59		2.59
Derivative, Nonmonetary Notional Amount, Mass | lb	424
Derivative, Average Forward Price | $ / lb	2.63	2.63		2.63
Copper | Long [Member] | Not Designated as Hedging Instrument [Member] | Embedded Derivative Financial Instruments [Member]
Derivatives, Fair Value [Line Items]
Derivative Average Market Price | $ / lb	2.59	2.59		2.59
Derivative, Nonmonetary Notional Amount, Mass | lb	97
Derivative, Average Forward Price | $ / lb	2.63	2.63		2.63
Gold | Short [Member] | Not Designated as Hedging Instrument [Member] | Embedded Derivative Financial Instruments [Member]
Derivatives, Fair Value [Line Items]
Derivative Average Market Price | $ / oz	1,491	1,491		1,491
Derivative, Nonmonetary Notional Amount, Mass | oz	150
Derivative, Average Forward Price | $ / oz	1,510	1,510		1,510
Sales [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net		$ (51)	(118)	$ (40)	(279)
Sales [Member] | Copper | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net		(57)	(93)	(57)	(242)
Sales [Member] | gold and other [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net		6	(25)	17	(37)
Cost of Sales [Member] | Not Designated as Hedging Instrument [Member] | Forward Contracts [Member]
Derivatives, Fair Value [Line Items]
Derivative, Gain (Loss) on Derivative, Net		$ 0	$ 9	$ (3)	$ 17

Financial Instruments (Derivati

Financial Instruments (Derivative) (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 2,247	$ 4,217
Restricted Cash and Cash Equivalents, Current	100	110
Restricted Cash and Cash Equivalents, Noncurrent	165	128
Total cash, cash equivalents, restricted cash and restricted cash equivalents presented in the consolidated statements of cash flows	2,512	4,455	$ 4,823	$ 4,710
Credit Derivative, Maximum Exposure, Undiscounted	5
Bank Time Deposits [Member]
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 1,300	$ 2,300

Fair Value Measurement (Fair Va

Fair Value Measurement (Fair Value Measurement Inputs) (Details) $ in Millions	9 Months Ended		12 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)$ / bbl	Dec. 31, 2016USD ($)$ / bbl	Nov. 30, 2016USD ($)$ / lb
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Other Assets, Current	$ 672				$ 422
Other assets	1,966				2,172
Proceeds from Sale of Other Assets, contingent consideration	102	$ 10
Derivative Liability, Fair Value, Gross Liability	42				48
Investment securities (current and long-term):
Marketable Securities	0
Derivatives:
Derivative Asset	5				16
Derivatives: [Abstract]
Derivative Liability	41				41
Fair Value Measured at Net Asset Value Per Share [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Discontinued Operation, Contingent Receivable	0				0
Investment securities (current and long-term):
Investments, Fair Value Disclosure	27				25
Trust Assets Fair Value Disclosure	59				55
Derivatives:
Derivative Asset	0				0
Derivatives: [Abstract]
Derivative Liability	0				0
Long-term debt, including current portion	0				0
Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Discontinued Operation, Contingent Receivable	0				0
Investment securities (current and long-term):
Investments, Fair Value Disclosure	4				4
Trust Assets Fair Value Disclosure	4				5
Derivatives:
Derivative Asset	0				0
Derivatives: [Abstract]
Derivative Liability	5				7
Long-term debt, including current portion	0				0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Discontinued Operation, Contingent Receivable	0				0
Investment securities (current and long-term):
Investments, Fair Value Disclosure	0				0
Trust Assets Fair Value Disclosure	133				121
Derivatives:
Derivative Asset	73				96
Derivatives: [Abstract]
Derivative Liability	37				41
Long-term debt, including current portion	9,872				10,238
Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Discontinued Operation, Contingent Receivable	110				127
Investment securities (current and long-term):
Investments, Fair Value Disclosure	0				0
Trust Assets Fair Value Disclosure	0				0
Derivatives:
Derivative Asset	0				0
Derivatives: [Abstract]
Derivative Liability	0				0
Long-term debt, including current portion	0				0
Estimate of Fair Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Discontinued Operation, Contingent Receivable	110				127
Investment securities (current and long-term):
Investments, Fair Value Disclosure	31				29
Trust Assets Fair Value Disclosure	196				181
Derivatives:
Derivative Asset	73				96
Derivatives: [Abstract]
Derivative Liability	42				48
Long-term debt, including current portion	9,872				10,238
Carrying Amount, Fair Value Disclosure [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Discontinued Operation, Contingent Receivable	128				143
Investment securities (current and long-term):
Investments, Fair Value Disclosure	31				29
Trust Assets Fair Value Disclosure	196				181
Derivatives:
Derivative Asset	73				96
Derivatives: [Abstract]
Derivative Liability	42				48
Long-term debt, including current portion	9,919				11,141
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	36				39
Derivatives:
Derivative Asset	5				16
Derivatives: [Abstract]
Derivative Liability	35				32
Embedded Derivative Financial Instruments [Member] | Fair Value Measured at Net Asset Value Per Share [Member]
Derivatives:
Derivative Asset	0				0
Derivatives: [Abstract]
Derivative Liability	0				0
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	6				23
Derivatives: [Abstract]
Derivative Liability	36				39
Embedded Derivative Financial Instruments [Member] | Level 3
Derivatives:
Derivative Asset	0				0
Derivatives: [Abstract]
Derivative Liability	0				0
Embedded Derivative Financial Instruments [Member] | Estimate of Fair Value Measurement [Member]
Derivatives:
Derivative Asset	6				23
Derivatives: [Abstract]
Derivative Liability	36				39
Embedded Derivative Financial Instruments [Member] | Carrying Amount, Fair Value Disclosure [Member]
Derivatives:
Derivative Asset	6				23
Derivatives: [Abstract]
Derivative Liability	36				39
Commodity Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Derivative Liability, Fair Value, Gross Liability	6				9
Derivatives:
Derivative Asset	0				0
Derivatives: [Abstract]
Derivative Liability	6				9
Commodity Contract [Member] | Fair Value Measured at Net Asset Value Per Share [Member]
Derivatives: [Abstract]
Derivative Liability	0				0
Commodity Contract [Member] | Level 1
Derivatives: [Abstract]
Derivative Liability	5				7
Commodity Contract [Member] | Level 2
Derivatives: [Abstract]
Derivative Liability	1				2
Commodity Contract [Member] | Level 3
Derivatives: [Abstract]
Derivative Liability	0				0
Commodity Contract [Member] | Estimate of Fair Value Measurement [Member]
Derivatives: [Abstract]
Derivative Liability	6				9
Commodity Contract [Member] | Carrying Amount, Fair Value Disclosure [Member]
Derivatives: [Abstract]
Derivative Liability	6				9
Africa and onshore California [Member] | Commodity Contract [Member] | Fair Value Measured at Net Asset Value Per Share [Member]
Derivatives:
Derivative Asset	0				0
Africa and onshore California [Member] | Commodity Contract [Member] | Level 1
Derivatives:
Derivative Asset	0				0
Africa and onshore California [Member] | Commodity Contract [Member] | Level 2
Derivatives:
Derivative Asset	67				73
Africa and onshore California [Member] | Commodity Contract [Member] | Level 3
Derivatives:
Derivative Asset	0				0
Africa and onshore California [Member] | Commodity Contract [Member] | Estimate of Fair Value Measurement [Member]
Derivatives:
Derivative Asset	67				73
Africa and onshore California [Member] | Commodity Contract [Member] | Carrying Amount, Fair Value Disclosure [Member]
Derivatives:
Derivative Asset	67				73
U.S. core fixed income fund [Member] | Fair Value Measured at Net Asset Value Per Share [Member]
Investment securities (current and long-term):
Marketable Securities	27				25
Trust Assets Fair Value Disclosure	59				55
U.S. core fixed income fund [Member] | Level 1
Investment securities (current and long-term):
Marketable 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):
Marketable 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):
Marketable Securities	0				0
Trust Assets Fair Value Disclosure	0				0
U.S. core fixed income fund [Member] | Estimate of Fair Value Measurement [Member]
Investment securities (current and long-term):
Marketable Securities	27				25
Trust Assets Fair Value Disclosure	59				55
U.S. core fixed income fund [Member] | Carrying Amount, Fair Value Disclosure [Member]
Investment securities (current and long-term):
Marketable Securities	27				25
Trust Assets Fair Value Disclosure	59				55
Equity securities | Fair Value Measured at Net Asset Value Per Share [Member]
Investment securities (current and long-term):
Marketable Securities					0
Equity securities | Level 1
Investment securities (current and long-term):
Marketable Securities	4				4
Equity securities | Level 2
Investment securities (current and long-term):
Marketable Securities	0				0
Equity securities | Level 3
Investment securities (current and long-term):
Marketable Securities	0				0
Equity securities | Estimate of Fair Value Measurement [Member]
Investment securities (current and long-term):
Marketable Securities	4				4
Equity securities | Carrying Amount, Fair Value Disclosure [Member]
Investment securities (current and long-term):
Marketable Securities	4				4
Government bonds | Fair Value Measured at Net Asset Value Per Share [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0				0
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	38				36
Government bonds | Level 3
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0				0
Government bonds | Estimate of Fair Value Measurement [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	38				36
Government bonds | Carrying Amount, Fair Value Disclosure [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	38				36
Corporate bonds [Member] | Fair Value Measured at Net Asset Value Per Share [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0				0
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	35				28
Corporate bonds [Member] | Level 3
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0				0
Corporate bonds [Member] | Estimate of Fair Value Measurement [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	35				28
Corporate bonds [Member] | Carrying Amount, Fair Value Disclosure [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	35				28
Government mortgage-backed securities [Member] | Fair Value Measured at Net Asset Value Per Share [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0				0
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	41				38
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] | Estimate of Fair Value Measurement [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	41				38
Government mortgage-backed securities [Member] | Carrying Amount, Fair Value Disclosure [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	41				38
Asset-backed securities [Member] | Fair Value Measured at Net Asset Value Per Share [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0				0
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	12				11
Asset-backed securities [Member] | Level 3
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0				0
Asset-backed securities [Member] | Estimate of Fair Value Measurement [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	12				11
Asset-backed securities [Member] | Carrying Amount, Fair Value Disclosure [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	12				11
Money market funds [Member] | Fair Value Measured at Net Asset Value Per Share [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0				0
Money market funds [Member] | Level 1
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	4				5
Money market funds [Member] | Level 2
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0				0
Money market funds [Member] | Level 3
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0				0
Money market funds [Member] | Estimate of Fair Value Measurement [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	4				5
Money market funds [Member] | Carrying Amount, Fair Value Disclosure [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	4				5
Collateralized Mortgage Backed Securities [Member] | Fair Value Measured at Net Asset Value Per Share [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0				0
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	6				7
Collateralized Mortgage Backed Securities [Member] | Level 3
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0				0
Collateralized Mortgage Backed Securities [Member] | Estimate of Fair Value Measurement [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	6				7
Collateralized Mortgage Backed Securities [Member] | Carrying Amount, Fair Value Disclosure [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	6				7
Municipal bonds [Member] | Fair Value Measured at Net Asset Value Per Share [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0				0
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] | Estimate of Fair Value Measurement [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	1				1
Municipal bonds [Member] | Carrying Amount, Fair Value Disclosure [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 Assets, Current	100				109
Other assets	164				126
Not Designated as Hedging Instrument [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	36				39
TF Holdings Limited | Disposed of by sale
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Other Assets, Current	59
Other assets					57
Discontinued Operation, Contingent Receivable							$ 120
Copper | TF Holdings Limited | Disposed of by sale
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Discontinued Operation, Contingent Receivable							60
Cobalt | TF Holdings Limited | Disposed of by sale
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Discontinued Operation, Contingent Receivable							$ 60
Derivatives:
Contingent consideration, reference threshold (in us dollars per pound) | $ / lb							20
Freeport-McMoRan Oil & Gas | Onshore California [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Other assets	8				16
Discontinued Operation, Contingent Receivable						$ 150
Proceeds from Sale of Other Assets, contingent consideration	50
Derivatives:
Discontinued Operation, Contingent Receivable, Per Year					50
Freeport-McMoRan Oil & Gas | Deepwater Gulf of Mexico Interests [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Other Assets, Current	18				27
Other assets	$ 110				$ 116
Discontinued Operation, Contingent Receivable						$ 150
Forecast | Freeport-McMoRan Oil & Gas | Onshore California [Member]
Derivatives:
Discontinued Operation, Contingent Receivable, Per Year			$ 50	$ 50
Crude Oil [Member] | Freeport-McMoRan Oil & Gas | Onshore California [Member]
Derivatives:
Contingent consideration, reference threshold (in us dollars per pound) | $ / bbl					70	70
Maximum [Member] | Copper | TF Holdings Limited | Disposed of by sale
Derivatives:
Contingent consideration, reference threshold (in us dollars per pound) | $ / lb							3.50

Fair Value Measurement (Unobser

Fair Value Measurement (Unobservable inputs) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018	Dec. 31, 2016
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Other Assets, Current	$ 672	$ 422
Other Assets, Noncurrent	1,966	2,172
Gulf of Mexico Contingent Consideration [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	(16)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value at January 1, 2019	127
Net unrealized loss related to assets still held at the end of the period	(1)
Fair value at September 30, 2019	110
Onshore California [Member] | Freeport-McMoRan Oil & Gas
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent Receivable			$ 150
Other Assets, Noncurrent	$ 8	$ 16

Contingencies and Commitments_2

Contingencies and Commitments (Unaudited) - Litigation (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	12 Months Ended
	Oct. 31, 2019	Sep. 30, 2019	Dec. 31, 2023	Mar. 13, 2019
Settled litigation | Louisiana Parishes Coastal Erosion Cases | FCX affiliates
Loss Contingencies [Line Items]
Litigation settlement, initial payment		$ 15,000
Settled litigation | Louisiana Parishes Coastal Erosion Cases | FCX affiliates | Subsequent event
Loss Contingencies [Line Items]
Litigation settlement, agreed to pay	$ 23,500
Litigation settlement, agreed to pay, initial payment	$ 15,000
Settled litigation | Louisiana Parishes Coastal Erosion Cases | FCX affiliates | Subsequent event | Forecast
Loss Contingencies [Line Items]
Litigation settlement, agreed to pay, yearly installment payment			$ 4,250
Pending litigation | Asbestos contamination in talc-based personal care products | Asbestos contamination | Johnson & Johnson and Cyprus Mines
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss				$ 29,000
Pending litigation | Asbestos contamination in talc-based personal care products | Asbestos contamination | Cyprus Mines
Loss Contingencies [Line Items]
Loss contingency accrual		$ 5,000
Loss contingency, estimate of possible loss				$ 2,000

Contingencies and Commitments_3

Contingencies and Commitments (Unaudited) - Tax and Other Matters (Details) T in Thousands, $ in Millions, Rp in Billions

1 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

13 Months Ended

Feb. 28, 2021USD ($)

Feb. 28, 2021IDR (Rp)

Oct. 31, 2019USD ($)

Oct. 31, 2019IDR (Rp)

May 31, 2019USD ($)

May 31, 2019IDR (Rp)

Sep. 30, 2019USD ($)

Jun. 30, 2019USD ($)

Sep. 30, 2018USD ($)

Sep. 30, 2019USD ($)

Sep. 30, 2018USD ($)

Dec. 31, 2018USD ($)

Mar. 08, 2020T

Jan. 01, 2023

Mar. 31, 2019

Dec. 21, 2018

Loss Contingencies [Line Items]

Production and delivery

$ 2,665

$ 3,069

$ 8,584

$ 8,790

Forecast

Loss Contingencies [Line Items]

Concentrate, export quota, original | T

180

Concentrate, export quota, revised | T

680

Surface Water Taxes, Papua, Indonesia

Loss Contingencies [Line Items]

Production and delivery

$ 28

Surface Water Taxes, Papua, Indonesia | PT Freeport Indonesia | Annual surface water tax payments

Loss Contingencies [Line Items]

Payments for taxes

$ 15

Surface Water Taxes, Papua, Indonesia | PT Freeport Indonesia | Tax Authority, In Papau, Indonesia | Penalties

Loss Contingencies [Line Items]

Litigation settlement, agreed to pay

$ 99

Rp 1,394

Loss contingency, offer

$ 69

Surface Water Taxes, Papua, Indonesia | PT Freeport Indonesia | Tax Authority, In Papau, Indonesia | Penalties | Forecast

Loss Contingencies [Line Items]

Payments for legal settlements

$ 49

Rp 685.5

PT Freeport Indonesia

Loss Contingencies [Line Items]

Investment owned, percent

81.00%

PT Freeport Indonesia | Forecast

Loss Contingencies [Line Items]

Investment owned, percent

48.76%

PT Freeport Indonesia | PT Smelting

Loss Contingencies [Line Items]

Investment owned, percent

25.00%

Subsequent event | Surface Water Taxes, Papua, Indonesia | PT Freeport Indonesia | Tax Authority, In Papau, Indonesia | Penalties

Loss Contingencies [Line Items]

Payments for legal settlements

$ 50

Rp 708.5

Business Segments (Product Reve

Business Segments (Product Revenue) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenue from External Customer [Line Items]
Treatment And Refining Charges Included In Copper Concentrates Revenues	$ (87)	$ (162)	$ (292)	$ (433)
Royalty Expense	(24)	(75)	(73)	(217)
Export duties expense	(174)	(52)	(201)	(153)
Revenue from Contract with Customer, Excluding Assessed Tax	3,204	5,026	10,531	15,223
Revenues	3,153	4,908	10,491	14,944
Sales [Member] | Not Designated as Hedging Instrument [Member]
Revenue from External Customer [Line Items]
Matured derivative financial instruments	(51)	(118)	(40)	(279)
Copper In Concentrates [Member]
Revenue from External Customer [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	952	1,743	3,251	5,093
Copper Cathode [Member]
Revenue from External Customer [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	878	1,015	2,696	3,383
Refined Copper Products [Member]
Revenue from External Customer [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	537	561	1,560	1,899
Purchased Copper [Member]
Revenue from External Customer [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	210	256	872	776
Gold
Revenue from External Customer [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	415	1,073	1,111	2,814
Molybdenum [Member]
Revenue from External Customer [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	295	286	910	882
Other Products Or Services [Member]
Revenue from External Customer [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	202	$ 381	$ 697	$ 1,179
PT Freeport Indonesia Export Duty Dispute [Member]
Revenue from External Customer [Line Items]
Export duties expense	$ (166)

Business Segments (Segment Repo

Business Segments (Segment Reporting) (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)segment	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)
Segment Reporting Information [Line Items]
Number of Operating Segments | segment			4
Deferred Intercompany Profit, Percentage			25.00%
Revenues	$ 3,153	$ 4,908	$ 10,491	$ 14,944
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (Deprecated 2019-01-31)	(2,665)	(3,069)	(8,584)	(8,790)
Cost, Depreciation, Amortization and Depletion	322	458	1,021	1,351
Metals inventory adjustments	41	0	100	2
Selling, general and administrative expenses	(106)	(101)	(315)	(341)
Mining exploration and research expenses	25	27	83	72
Environmental obligations and shutdown costs	20	8	85	76
Net gain on sales of assets	12	(70)	(13)	(126)
Operating (loss) income	(38)	1,315	316	4,438
Interest expense, net	(123)	(143)	(401)	(436)
Provision for (benefit from) income taxes	91	522	181	1,543
Total assets	40,943	37,749	40,943	37,749	$ 42,216
Capital expenditures	666	507	1,917	1,391
Operating Segments | North America
Segment Reporting Information [Line Items]
Revenues	80	32	272	88
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (Deprecated 2019-01-31)	(896)	(789)	(2,463)	(2,367)
Cost, Depreciation, Amortization and Depletion	91	88	261	274
Metals inventory adjustments	38		39	2
Selling, general and administrative expenses	(2)	(1)	(4)	(5)
Mining exploration and research expenses	0	1	1	2
Environmental obligations and shutdown costs	0	2	0	2
Net gain on sales of assets	0	0	0	0
Operating (loss) income	113	205	526	989
Interest expense, net	(1)	(1)	(3)	(3)
Provision for (benefit from) income taxes	0	0	0	0
Total assets	7,948	7,291	7,948	7,291
Capital expenditures	224	181	641	413
Operating Segments | South America
Segment Reporting Information [Line Items]
Revenues	621	809	2,136	2,474
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (Deprecated 2019-01-31)	(528)	(624)	(1,648)	(1,745)
Cost, Depreciation, Amortization and Depletion	109	142	342	402
Metals inventory adjustments	2		2	0
Selling, general and administrative expenses	(2)	(3)	(6)	(7)
Mining exploration and research expenses	0	0	0	0
Environmental obligations and shutdown costs	0	0	0	0
Net gain on sales of assets	0	0	0	0
Operating (loss) income	45	111	400	593
Interest expense, net	(25)	(15)	(79)	(48)
Provision for (benefit from) income taxes	33	42	149	222
Total assets	10,223	10,322	10,223	10,322
Capital expenditures	68	50	176	188
Corporate And Eliminations
Segment Reporting Information [Line Items]
Revenues	423	573	1,350	1,777
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (Deprecated 2019-01-31)	775	716	2,173	2,626
Cost, Depreciation, Amortization and Depletion	20	18	59	53
Metals inventory adjustments	0		58	0
Selling, general and administrative expenses	(66)	(63)	(199)	(217)
Mining exploration and research expenses	25	26	82	70
Environmental obligations and shutdown costs	20	6	85	74
Net gain on sales of assets	12	(70)	(13)	(126)
Operating (loss) income	(168)	(49)	(601)	(158)
Interest expense, net	(91)	(120)	(300)	(367)
Provision for (benefit from) income taxes	67	56	39	66
Total assets	3,623	5,445	3,623	5,445
Capital expenditures	25	22	76	76
Intersegment
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Intersegment | North America
Segment Reporting Information [Line Items]
Revenues	1,060	1,054	3,022	3,553
Intersegment | South America
Segment Reporting Information [Line Items]
Revenues	65	71	262	273
PT Smelting | Affiliated Entity [Member]
Segment Reporting Information [Line Items]
Revenues	475	827	1,400	2,100
Morenci [Member] | Operating Segments | North America
Segment Reporting Information [Line Items]
Revenues	61	30	89	58
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (Deprecated 2019-01-31)	(377)	(304)	(1,020)	(892)
Cost, Depreciation, Amortization and Depletion	45	43	128	133
Metals inventory adjustments	1		1	0
Selling, general and administrative expenses	(1)	(1)	(2)	(3)
Mining exploration and research expenses	0	0	0	0
Environmental obligations and shutdown costs	0	0	0	0
Net gain on sales of assets	0	0	0	0
Operating (loss) income	99	149	349	666
Interest expense, net	0	(1)	(2)	(3)
Provision for (benefit from) income taxes	0	0	0	0
Total assets	2,943	2,826	2,943	2,826
Capital expenditures	61	63	172	151
Morenci [Member] | Intersegment | North America
Segment Reporting Information [Line Items]
Revenues	462	467	1,411	1,636
Other Individually Immaterial Operating Segments [Member] | Operating Segments | North America
Segment Reporting Information [Line Items]
Revenues	19	2	183	30
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (Deprecated 2019-01-31)	(519)	(485)	(1,443)	(1,475)
Cost, Depreciation, Amortization and Depletion	46	45	133	141
Metals inventory adjustments	37		38	2
Selling, general and administrative expenses	(1)	0	(2)	(2)
Mining exploration and research expenses	0	1	1	2
Environmental obligations and shutdown costs	0	2	0	2
Net gain on sales of assets	0	0	0	0
Operating (loss) income	14	56	177	323
Interest expense, net	(1)	0	(1)	0
Provision for (benefit from) income taxes	0	0	0	0
Total assets	5,005	4,465	5,005	4,465
Capital expenditures	163	118	469	262
Other Individually Immaterial Operating Segments [Member] | Operating Segments | South America
Segment Reporting Information [Line Items]
Revenues	117	122	343	443
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (Deprecated 2019-01-31)	(111)	(105)	(337)	(354)
Cost, Depreciation, Amortization and Depletion	16	20	48	66
Metals inventory adjustments	0		0	0
Selling, general and administrative expenses	0	0	0	0
Mining exploration and research expenses	0	0	0	0
Environmental obligations and shutdown costs	0	0	0	0
Net gain on sales of assets	0	0	0	0
Operating (loss) income	(10)	(3)	(42)	23
Interest expense, net	0	0	0	0
Provision for (benefit from) income taxes	4	5	(10)	15
Total assets	1,723	1,709	1,723	1,709
Capital expenditures	7	3	16	10
Other Individually Immaterial Operating Segments [Member] | Intersegment | North America
Segment Reporting Information [Line Items]
Revenues	598	587	1,611	1,917
Other Individually Immaterial Operating Segments [Member] | Intersegment | South America
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Cerro Verde [Member] | Operating Segments | South America
Segment Reporting Information [Line Items]
Revenues	504	687	1,793	2,031
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (Deprecated 2019-01-31)	(417)	(519)	(1,311)	(1,391)
Cost, Depreciation, Amortization and Depletion	93	122	294	336
Metals inventory adjustments	2		2	0
Selling, general and administrative expenses	(2)	(3)	(6)	(7)
Mining exploration and research expenses	0	0	0	0
Environmental obligations and shutdown costs	0	0	0	0
Net gain on sales of assets	0	0	0	0
Operating (loss) income	55	114	442	570
Interest expense, net	(25)	(15)	(79)	(48)
Provision for (benefit from) income taxes	29	37	159	207
Total assets	8,500	8,613	8,500	8,613
Capital expenditures	61	47	160	178
Cerro Verde [Member] | Intersegment | South America
Segment Reporting Information [Line Items]
Revenues	65	71	262	273
Grasberg Segment [Member]
Segment Reporting Information [Line Items]
Capital expenditures			992	695
Grasberg Segment [Member] | Operating Segments | Indonesia
Segment Reporting Information [Line Items]
Revenues	488	1,703	1,776	4,863
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (Deprecated 2019-01-31)	(399)	(522)	(1,509)	(1,404)
Cost, Depreciation, Amortization and Depletion	77	181	281	534
Metals inventory adjustments	0		0	0
Selling, general and administrative expenses	(31)	(29)	(91)	(96)
Mining exploration and research expenses	0	0	0	0
Environmental obligations and shutdown costs	0	0	0	0
Net gain on sales of assets	0	0	0	0
Operating (loss) income	(19)	1,032	(48)	2,943
Interest expense, net	(1)	0	(2)	0
Provision for (benefit from) income taxes	(8)	424	(9)	1,254
Total assets	16,447	11,764	16,447	11,764
Capital expenditures	334	246	992	695
Grasberg Segment [Member] | Intersegment | Indonesia
Segment Reporting Information [Line Items]
Revenues	0	61	57	114
Molybdenum [Member]
Segment Reporting Information [Line Items]
Capital expenditures			11	6
Molybdenum [Member] | Operating Segments
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (Deprecated 2019-01-31)	(85)	(76)	(234)	(214)
Cost, Depreciation, Amortization and Depletion	16	20	50	60
Metals inventory adjustments	1		1	0
Selling, general and administrative expenses	0	0	0	0
Mining exploration and research expenses	0	0	0	0
Environmental obligations and shutdown costs	0	0	0	0
Net gain on sales of assets	0	0	0	0
Operating (loss) income	(12)	5	5	33
Interest expense, net	0	0	0	0
Provision for (benefit from) income taxes	0	0	0	0
Total assets	1,786	1,808	1,786	1,808
Capital expenditures	5	4	11	6
Molybdenum [Member] | Intersegment
Segment Reporting Information [Line Items]
Revenues	90	101	290	307
Rod and Refining Segment [Member] | Operating Segments
Segment Reporting Information [Line Items]
Revenues	1,104	1,212	3,403	3,984
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (Deprecated 2019-01-31)	(1,111)	(1,215)	(3,415)	(3,992)
Cost, Depreciation, Amortization and Depletion	2	3	7	8
Metals inventory adjustments	0		0	0
Selling, general and administrative expenses	0	0	0	0
Mining exploration and research expenses	0	0	0	0
Environmental obligations and shutdown costs	0	0	0	0
Net gain on sales of assets	0	0	0	0
Operating (loss) income	(1)	2	(1)	8
Interest expense, net	0	0	0	0
Provision for (benefit from) income taxes	0	0	0	0
Total assets	236	284	236	284
Capital expenditures	1	1	3	3
Rod and Refining Segment [Member] | Intersegment
Segment Reporting Information [Line Items]
Revenues	8	8	18	24
Atlantic Copper Smelting and Refining Segment [Member] | Operating Segments
Segment Reporting Information [Line Items]
Revenues	437	579	1,554	1,758
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (Deprecated 2019-01-31)	(421)	(559)	(1,488)	(1,694)
Cost, Depreciation, Amortization and Depletion	7	6	21	20
Metals inventory adjustments	0		0	0
Selling, general and administrative expenses	(5)	(5)	(15)	(16)
Mining exploration and research expenses	0	0	0	0
Environmental obligations and shutdown costs	0	0	0	0
Net gain on sales of assets	0	0	0	0
Operating (loss) income	4	9	35	30
Interest expense, net	(5)	(7)	(17)	(18)
Provision for (benefit from) income taxes	(1)	0	2	1
Total assets	680	835	680	835
Capital expenditures	9	3	18	10
Atlantic Copper Smelting and Refining Segment [Member] | Intersegment
Segment Reporting Information [Line Items]
Revenues	0	0	5	2
Corporate And Eliminations | Intersegment
Segment Reporting Information [Line Items]
Revenues	$ (1,223)	$ (1,295)	$ (3,654)	$ (4,273)

Guarantor Financial Statement_3

Guarantor Financial Statements (Details)	Sep. 30, 2019
FM O&G LLC Guarantor [Member]
Condensed Financial Statements, Captions [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent	10000.00%

Guarantor Financial Statement_4

Guarantor Financial Statements (Unaudited) Condensed Consolidating Balance Sheets (Details) - USD ($) $ in Millions	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Dec. 31, 2017
ASSETS
Current assets, other than assets held-for-sale	$ 8,347		$ 10,720
Property, plant, equipment and mine development costs, net	29,330		28,010
Investments in consolidated subsidiaries	0		0
Other assets	3,266		3,486
Total assets	40,943		42,216	$ 37,749
LIABILITIES AND EQUITY
Current liabilities, other than liabilities held for sale	3,381		3,329
Long-term debt, less current portion	9,915		11,124
Deferred income taxes	4,245		4,032
Environmental and asset retirement obligations, less current portion	3,558		3,609
Investments in consolidated subsidiaries	0		0
Other liabilities	2,302		2,230
Total liabilities	23,401		24,324
Equity:
Stockholders' equity	9,444		9,798
Noncontrolling interests	8,098		8,094
Total equity	17,542	$ 17,817	17,892	$ 13,454	$ 12,842	$ 11,296
Total liabilities and equity	40,943		42,216
Eliminations [Member]
ASSETS
Current assets, other than assets held-for-sale	(603)		(585)
Property, plant, equipment and mine development costs, net	7		0
Investments in consolidated subsidiaries	(17,523)		(19,064)
Other assets	(1,099)		(635)
Total assets	(19,218)		(20,284)
LIABILITIES AND EQUITY
Current liabilities, other than liabilities held for sale	(635)		(617)
Long-term debt, less current portion	(11,903)		(11,103)
Deferred income taxes	0		0
Environmental and asset retirement obligations, less current portion	0		0
Investments in consolidated subsidiaries	(11,467)		(11,091)
Other liabilities	(3,488)		(3,486)
Total liabilities	(27,493)		(26,297)
Equity:
Stockholders' equity	2,809		601
Noncontrolling interests	5,466		5,412
Total equity	8,275		6,013
Total liabilities and equity	(19,218)		(20,284)
FCX Issuer [Member] | Reportable Legal Entities [Member]
ASSETS
Current assets, other than assets held-for-sale	46		309
Property, plant, equipment and mine development costs, net	18		19
Investments in consolidated subsidiaries	17,523		19,064
Other assets	1,340		880
Total assets	18,927		20,272
LIABILITIES AND EQUITY
Current liabilities, other than liabilities held for sale	312		245
Long-term debt, less current portion	8,600		9,594
Deferred income taxes	498		524
Environmental and asset retirement obligations, less current portion	0		0
Investments in consolidated subsidiaries	0		0
Other liabilities	73		111
Total liabilities	9,483		10,474
Equity:
Stockholders' equity	9,444		9,798
Noncontrolling interests	0		0
Total equity	9,444		9,798
Total liabilities and equity	18,927		20,272
FM O&G LLC Guarantor [Member] | Reportable Legal Entities [Member]
ASSETS
Current assets, other than assets held-for-sale	606		620
Property, plant, equipment and mine development costs, net	5		7
Investments in consolidated subsidiaries	0		0
Other assets	17		23
Total assets	628		650
LIABILITIES AND EQUITY
Current liabilities, other than liabilities held for sale	42		34
Long-term debt, less current portion	7,215		6,984
Deferred income taxes	0		0
Environmental and asset retirement obligations, less current portion	237		227
Investments in consolidated subsidiaries	630		578
Other liabilities	3,341		3,340
Total liabilities	11,465		11,163
Equity:
Stockholders' equity	(10,837)		(10,513)
Noncontrolling interests	0		0
Total equity	(10,837)		(10,513)
Total liabilities and equity	628		650
Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
ASSETS
Current assets, other than assets held-for-sale	8,298		10,376
Property, plant, equipment and mine development costs, net	29,300		27,984
Investments in consolidated subsidiaries	0		0
Other assets	3,008		3,218
Total assets	40,606		41,578
LIABILITIES AND EQUITY
Current liabilities, other than liabilities held for sale	3,662		3,667
Long-term debt, less current portion	6,003		5,649
Deferred income taxes	3,747		3,508
Environmental and asset retirement obligations, less current portion	3,321		3,382
Investments in consolidated subsidiaries	10,837		10,513
Other liabilities	2,376		2,265
Total liabilities	29,946		28,984
Equity:
Stockholders' equity	8,028		9,912
Noncontrolling interests	2,632		2,682
Total equity	10,660		12,594
Total liabilities and equity	$ 40,606		$ 41,578

Guarantor Financial Statement_5

Guarantor Financial Statements (Unaudited) Condensed Consolidating Statements of Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenues	$ 3,153	$ 4,908	$ 10,491	$ 14,944
Total costs and expenses	3,191	3,593	10,175	10,506
Operating income (loss)	(38)	1,315	316	4,438
Interest expense, net	(123)	(143)	(401)	(436)
Other Nonoperating Income (Expense)	12	14	25	71
Net (loss) gain on early extinguishment of debt	(21)	0	(27)	8
(Loss) income from continuing operations before income taxes and equity in affiliated companies’ net earnings	(149)	1,186	(60)	4,073
Provision for income taxes	(91)	(522)	(181)	(1,543)
Equity in affiliated companies’ net earnings (losses)	5	4	7	5
Net (loss) income from continuing operations	(235)	668	(234)	2,535
Net income (loss) from discontinued operations	1	(4)	2	(19)
Net income	(234)	664	(232)	2,516
Net loss (income) from continuing operations attributable to noncontrolling interests	27	(108)	(16)	(399)
Net (loss) income attributable to common stockholders	(207)	556	(248)	2,117
Other comprehensive income (loss)	12	11	35	34
Total comprehensive income (loss)	(195)	567	(213)	2,151
Eliminations [Member]
Revenues	0	0	0	0
Total costs and expenses	(7)	0	(7)	(10)
Operating income (loss)	7	0	7	10
Interest expense, net	133	125	407	350
Other Nonoperating Income (Expense)	28	(125)	(46)	(350)
(Loss) income from continuing operations before income taxes and equity in affiliated companies’ net earnings	168	0	368	10
Provision for income taxes	(2)	0	(2)	(2)
Equity in affiliated companies’ net earnings (losses)	191	(656)	268	(2,208)
Net (loss) income from continuing operations	357	(656)	634	(2,200)
Net income (loss) from discontinued operations	0	0	0	0
Net income	357	(656)	634	(2,200)
Net loss (income) from continuing operations attributable to noncontrolling interests	5	(61)	4	(179)
Net (loss) income attributable to common stockholders	362	(717)	638	(2,379)
Other comprehensive income (loss)	(12)	(11)	(35)	(34)
Total comprehensive income (loss)	350	(728)	603	(2,413)
FCX Issuer [Member] | Reportable Legal Entities [Member]
Revenues	0	0	0	0
Total costs and expenses	5	7	22	20
Operating income (loss)	(5)	(7)	(22)	(20)
Interest expense, net	(79)	(93)	(252)	(294)
Other Nonoperating Income (Expense)	(52)	124	12	357
(Loss) income from continuing operations before income taxes and equity in affiliated companies’ net earnings	(136)	24	(262)	43
Provision for income taxes	(26)	(188)	(34)	(282)
Equity in affiliated companies’ net earnings (losses)	(45)	720	48	2,356
Net (loss) income from continuing operations	(207)	556	(248)	2,117
Net income (loss) from discontinued operations	0	0	0	0
Net income	(207)	556	(248)	2,117
Net loss (income) from continuing operations attributable to noncontrolling interests	0	0	0	0
Net (loss) income attributable to common stockholders	(207)	556	(248)	2,117
Other comprehensive income (loss)	12	11	35	34
Total comprehensive income (loss)	(195)	567	(213)	2,151
FM O&G LLC Guarantor [Member] | Reportable Legal Entities [Member]
Revenues	11	15	27	46
Total costs and expenses	28	(2)	54	(10)
Operating income (loss)	(17)	17	(27)	56
Interest expense, net	(79)	(79)	(247)	(219)
Other Nonoperating Income (Expense)	0	0	0	2
(Loss) income from continuing operations before income taxes and equity in affiliated companies’ net earnings	(96)	(62)	(274)	(161)
Provision for income taxes	22	11	62	33
Equity in affiliated companies’ net earnings (losses)	(36)	(6)	(52)	(10)
Net (loss) income from continuing operations	(110)	(57)	(264)	(138)
Net income (loss) from discontinued operations	0	0	0	0
Net income	(110)	(57)	(264)	(138)
Net loss (income) from continuing operations attributable to noncontrolling interests	0	0	0	0
Net (loss) income attributable to common stockholders	(110)	(57)	(264)	(138)
Other comprehensive income (loss)	0	0	0	0
Total comprehensive income (loss)	(110)	(57)	(264)	(138)
Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Revenues	3,142	4,893	10,464	14,898
Total costs and expenses	3,165	3,588	10,106	10,506
Operating income (loss)	(23)	1,305	358	4,392
Interest expense, net	(98)	(96)	(309)	(273)
Other Nonoperating Income (Expense)	36	15	59	62
(Loss) income from continuing operations before income taxes and equity in affiliated companies’ net earnings	(85)	1,224	108	4,181
Provision for income taxes	(85)	(345)	(207)	(1,292)
Equity in affiliated companies’ net earnings (losses)	(105)	(54)	(257)	(133)
Net (loss) income from continuing operations	(275)	825	(356)	2,756
Net income (loss) from discontinued operations	1	(4)	2	(19)
Net income	(274)	821	(354)	2,737
Net loss (income) from continuing operations attributable to noncontrolling interests	22	(47)	(20)	(220)
Net (loss) income attributable to common stockholders	(252)	774	(374)	2,517
Other comprehensive income (loss)	12	11	35	34
Total comprehensive income (loss)	$ (240)	$ 785	$ (339)	$ 2,551

Guarantor Financial Statement_6

Guarantor Financial Statements (Unaudited) Condensed Consolidating Statements of Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year	$ 2,512	$ 4,823	$ 2,512	$ 4,823	$ 4,455	$ 4,710
Cash flow from operating activities:
Net cash provided by operating activities			1,312	3,925
Cash flow from investing activities:
Capital expenditures	(666)	(507)	(1,917)	(1,391)
Intercompany loans			0	0
Dividends from (investments in) consolidated subsidiaries			(2)	0
Proceeds From Divestiture Of Business And Interests In Affiliates And Proceeds From Sale Of Other Assets			94	(81)
Net cash used in investing activities			(1,825)	(1,472)
Cash flow from financing activities:
Proceeds from debt			1,681	475
Repayments of debt			(2,917)	(2,410)
Intercompany loans			0	0
Cash dividends paid and contributions received, net			(164)	(386)
Other, net			(30)	(19)
Net cash used in financing activities			(1,430)	(2,340)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect			(1,943)	113
Eliminations [Member]
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year	0	0	0	0	0	0
Cash flow from operating activities:
Net cash provided by operating activities			0	0
Cash flow from investing activities:
Capital expenditures			0	0
Intercompany loans			801	558
Dividends from (investments in) consolidated subsidiaries			(1,769)	(2,791)
Proceeds From Divestiture Of Business And Interests In Affiliates And Proceeds From Sale Of Other Assets			0	0
Net cash used in investing activities			(968)	(2,233)
Cash flow from financing activities:
Proceeds from debt			0	0
Repayments of debt			0	0
Intercompany loans			(802)	(558)
Cash dividends paid and contributions received, net			1,750	2,775
Other, net			20	16
Net cash used in financing activities			968	2,233
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect			0	0
Reportable Legal Entities [Member] | FCX Issuer [Member]
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year	0	0	0	0	0	0
Cash flow from operating activities:
Net cash provided by operating activities			352	(181)
Cash flow from investing activities:
Capital expenditures			0	(2)
Intercompany loans			(801)	(558)
Dividends from (investments in) consolidated subsidiaries			1,697	2,726
Proceeds From Divestiture Of Business And Interests In Affiliates And Proceeds From Sale Of Other Assets			(1)	4
Net cash used in investing activities			895	2,170
Cash flow from financing activities:
Proceeds from debt			1,200	0
Repayments of debt			(2,202)	(1,826)
Intercompany loans			0	0
Cash dividends paid and contributions received, net			(218)	(145)
Other, net			(27)	(18)
Net cash used in financing activities			(1,247)	(1,989)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect			0	0
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year	0	0	0	0	0	7
Cash flow from operating activities:
Net cash provided by operating activities			(326)	(285)
Cash flow from investing activities:
Capital expenditures			(4)	0
Intercompany loans			0	0
Dividends from (investments in) consolidated subsidiaries			0	0
Proceeds From Divestiture Of Business And Interests In Affiliates And Proceeds From Sale Of Other Assets			98	3
Net cash used in investing activities			94	3
Cash flow from financing activities:
Proceeds from debt			0	0
Repayments of debt			0	(52)
Intercompany loans			232	327
Cash dividends paid and contributions received, net			0	0
Other, net			0	0
Net cash used in financing activities			232	275
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect			0	(7)
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year	$ 2,512	$ 4,823	2,512	4,823	$ 4,455	$ 4,703
Cash flow from operating activities:
Net cash provided by operating activities			1,286	4,391
Cash flow from investing activities:
Capital expenditures			(1,913)	(1,389)
Intercompany loans			0	0
Dividends from (investments in) consolidated subsidiaries			70	65
Proceeds From Divestiture Of Business And Interests In Affiliates And Proceeds From Sale Of Other Assets			(3)	(88)
Net cash used in investing activities			(1,846)	(1,412)
Cash flow from financing activities:
Proceeds from debt			481	475
Repayments of debt			(715)	(532)
Intercompany loans			570	231
Cash dividends paid and contributions received, net			(1,696)	(3,016)
Other, net			(23)	(17)
Net cash used in financing activities			(1,383)	(2,859)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect			$ (1,943)	$ 120

New Accounting Standard - Narra

New Accounting Standard - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Dec. 31, 2018	Jan. 01, 2019
Lessee Disclosure [Abstract]
Lease right-of-use assets	$ 241	$ 241		$ 243
Lease liability	256	256		$ 243
Lease costs	$ 30	103	$ 80
Lease payments		$ 32
Lease weighted-average discount rate	5.60%	5.60%
Lease,weighted average remaining lease term	8 years 6 months	8 years 6 months

New Accounting Standard - Lease

New Accounting Standard - Leases Presented in Balance Sheet (Details) - USD ($) $ in Millions	Sep. 30, 2019	Jan. 01, 2019
Assets and Liabilities, Lessee [Abstract]
Lease right-of-use assets (included in property, plant, equipment and mine development costs, net)	$ 241	$ 243
Short-term lease liabilities (included in accounts payable and accrued liabilities)	45
Long-term lease liabilities (included in other liabilities)	211
Total lease liabilities	$ 256	$ 243

New Accounting Standard - Opera

New Accounting Standard - Operating Lease Costs (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Dec. 31, 2018
Lease, Cost [Abstract]
Operating leases	$ 11	$ 44
Variable and short-term leases	19	59
Total operating lease costs	$ 30	$ 103	$ 80

New Accounting Standard - Futur

New Accounting Standard - Future Minimum Payments for Leases (Details) - USD ($) $ in Millions	Sep. 30, 2019	Jan. 01, 2019
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Remaining three months of 2019	$ 14
2020	55
2021	42
2022	35
2023	31
Thereafter	155
Total payments	332
Less amount representing interest	(76)
Total lease liabilities	256	$ 243
Less current portion	(45)
Long-term portion	$ 211

Subsequent Events (Unaudited) (

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

Mar. 31, 2022

Dec. 31, 2021

Jul. 31, 2020

Nov. 06, 2019

Mar. 31, 2020

Sep. 30, 2019

Sep. 30, 2018

Sep. 30, 2019

Sep. 30, 2018

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

Dec. 21, 2018

Nov. 01, 2019

Oct. 29, 2019

Subsequent Event [Line Items]

Export duties expense

$ 174

$ 52

$ 201

$ 153

Net (loss) income attributable to common stockholders

(210)

$ 552

$ (251)

$ 2,112

PT Freeport Indonesia | Indonesian Tax Authority

Subsequent Event [Line Items]

Progressive export duty on copper concentrates, lower threshold, percent

2.50%

Smelter Development Progress, Lower Threshold, Percent

30.00%

Progressive export duty on copper concentrates, upper threshold, percent

5.00%

Smelter Development Progress, Higher Threshold, Percent

50.00%

PT Freeport Indonesia | Indonesian Tax Authority | Memorandum of Understanding with the Indonesian Government

Subsequent Event [Line Items]

Progressive export duty on copper concentrates, lower threshold, percent

5.00%

Progressive export duty on copper concentrates, upper threshold, percent

7.50%

Progressive export duty on copper concentrates, change, percent

2.50%

Export duties expense

$ 155

Ruling in favor for disputed amounts

$ 29

PT Freeport Indonesia | Indonesian Tax Authority | Memorandum of Understanding with the Indonesian Government, Indonesia Supreme Court Appeal

Subsequent Event [Line Items]

Progressive export duty on copper concentrates, lower threshold, percent

5.00%

Loss contingency, charge

155

Net (loss) income attributable to common stockholders

$ (76)

Impact of charge on earnings per share

$ (0.05)

Disposed of by sale | Timok | Forecast

Subsequent Event [Line Items]

Proceeds from divestiture

$ 240

Divestiture of businesses, contingent consideration

100

Gain on divestiture

$ 340

Disposed of by sale | Timok, upper zone

Subsequent Event [Line Items]

Proceeds from divestiture

$ 135

Divestiture of businesses, contingent consideration

$ 107

Subsequent event | PT Freeport Indonesia | Indonesian Tax Authority | Memorandum of Understanding with the Indonesian Government, Indonesia Supreme Court Appeal

Subsequent Event [Line Items]

Unfavorable rulings, involving approximately half

$ 29

Subsequent event | Disposed of by sale | Timok, upper zone

Subsequent Event [Line Items]

Divestiture of businesses, contingent consideration

$ 107

Subsequent event | Disposed of by sale | Timok, upper zone | Forecast

Subsequent Event [Line Items]

Proceeds from divestiture, installment payment

$ 12

$ 50

$ 45

Subsequent event | Disposed of by sale | Timik, lower zone

Subsequent Event [Line Items]

Proceeds from divestiture

$ 240

Divestiture of businesses, deferred payments

150

Divestiture of businesses, deferred payments, demand amount per case

$ 60