Freeport-McMoRan (FCX) 10-K 14 Feb 20 2019 FY Annual report Financial data

COVER PAGE

COVER PAGE - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2019	Jan. 31, 2020	Jun. 30, 2019
Cover page.
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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 Public Float			$ 13.1
Entity Common Stock, Shares Outstanding		1,450,972,426
Documents Incorporated by Reference [Text Block]	Portions of our proxy statement for our 2020 annual meeting of stockholders are incorporated by reference into Part III (Items 10, 11, 12, 13 and 14) of this report.
Entity Central Index Key	0000831259
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Amendment Flag	false

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	Dec. 18, 2019	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Revenues		$ 3,911	$ 3,153	$ 3,546	$ 3,792	$ 3,684	$ 4,908	$ 5,168	$ 4,868	$ 14,402	$ 18,628	$ 16,403
Cost of sales:
Production and delivery										11,514	11,687	10,258
Cost, Depreciation, Amortization and Depletion										1,412	1,754	1,714
Total cost of sales										13,105	13,445	11,980
Selling, general and administrative expenses										414	443	477
Exploration Expense										104	105	93
Environmental obligations and shutdown costs										105	89	244
Net gain on sales of assets						(82)	(70)	(45)	(11)	(417)	(208)	(81)
Total costs and expenses										13,311	13,874	12,713
Operating income		775	(38)	33	321	316	1,315	1,664	1,459	1,091	4,754	3,690
Interest expense, net										(620)	(945)	(801)
Net (loss) gain on early extinguishment of debt										(27)	7	21
Other (expense) income, net										(138)	76	(8)
Income from continuing operations before income taxes and equity in affiliated companies’ net earnings										306	3,892	2,902
Provision for (benefit from) income taxes										(510)	(991)	(883)
Equity in affiliated companies’ net earnings										12	8	10
Net (loss) income from continuing operations		42	(235)	(74)	75	374	668	1,039	828	(192)	2,909	2,029
Net income (loss) from discontinued operations		1	1	0	1	4	(4)	(4)	(11)	3	(15)	66
Net (loss) income		43	(234)	(74)	76	378	664	1,035	817	(189)	2,894	2,095
Net income from continuing operations attributable to noncontrolling interests										(50)	(292)	(274)
Net income attributable to noncontrolling interests: Discontinued Operations										0	0	(4)
Net (loss) income attributable to common stockholders		$ 9	$ (207)	$ (72)	$ 31	$ 485	$ 556	$ 869	$ 692	$ (239)	$ 2,602	$ 1,817
Basic net income (loss) per share attributable to common stockholders:
Income (Loss) from Continuing Operations, Per Basic Share						$ 0.33	$ 0.38	$ 0.60	$ 0.48	$ (0.17)	$ 1.80	$ 1.21
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share										0	(0.01)	0.04
Earnings per share, basic (in dollars per share)		$ 0	$ (0.15)	$ (0.05)	$ 0.02	0.33	0.38	0.60	0.47	(0.17)	1.79	1.25
Diluted net income (loss) per share attributable to common stockholders:
Income (Loss) from Continuing Operations, Per Diluted Share						0.33	0.38	0.59	0.48	(0.17)	1.79	1.21
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share						0	0	0	(0.01)	0	(0.01)	0.04
Earnings Per Share, Diluted		$ 0	$ (0.15)	$ (0.05)	$ 0.02	$ 0.33	$ 0.38	$ 0.59	$ 0.47	$ (0.17)	$ 1.78	$ 1.25
Weighted Average Number of Shares Outstanding, Basic		1,452,000,000	1,452,000,000	1,451,000,000	1,451,000,000	1,450,000,000	1,450,000,000	1,449,000,000	1,449,000,000	1,451,000,000	1,449,000,000	1,447,000,000
Weighted Average Number of Shares Outstanding, Diluted		1,457,000,000	1,452,000,000	1,451,000,000	1,457,000,000	1,457,000,000	1,458,000,000	1,458,000,000	1,458,000,000	1,451,000,000	1,458,000,000	1,454,000,000
Dividends declared per share of common stock (in dollars per share)	$ 0.05									$ 0.20	$ 0.20	$ 0

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (189)	$ 2,894	$ 2,095
Other comprehensive income (loss), net of taxes:
Unrealized gains on securities	0	0	1
Defined benefit plans:
Actuarial (losses) gains arising during the period, net of taxes	(116)	(77)	14
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), after Tax	0	4	0
Amortization or curtailment of unrecognized amounts included in net periodic benefit costs	47	48	54
Foreign exchange gains (losses)	1	(1)	0
Other comprehensive (loss) income	(68)	(34)	69
Total comprehensive (loss) income	(257)	2,860	2,164
Total comprehensive income attributable to noncontrolling interests	(53)	(291)	(286)
Total comprehensive (loss) income attributable to common stockholders	$ (310)	$ 2,569	$ 1,878

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Proceeds from (Payments to) Noncontrolling Interests	$ 165	$ 0	$ 0
Cash flow from operating activities:
Net (loss) income	(189)	2,894	2,095
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation, depletion and amortization	1,412	1,754	1,714
Tax Cuts and Jobs Act of 2017, provisional income tax expense (benefit)	0	(123)	(393)
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount	0	(504)	0
Net gain on sales of assets	(417)	(208)	(81)
Stock-based compensation	63	76	71
Net charges for environmental and asset retirement obligations, including accretion	221	262	383
Payments for environmental and asset retirement obligations	244	239	131
Pension and Other Postretirement Benefits Expense (Reversal of Expense), Noncash	108	81	120
Payment for Pension and Other Postretirement Benefits	(75)	(75)	(174)
Net loss (gain) on early extinguishment of debt	27	(7)	(21)
Deferred income taxes	29	100	76
Loss on disposal of discontinued operations	3	(15)	57
Proceeds from Dividends Received			0
PT-FI Surface Water Tax, Withholding Tax and Environmental Matters, Expense	30	162	0
PT-FI Surface Water Tax, Withholding Tax and Environmental Matters, Payments	(67)	0	0
Other Operating Activities, Cash Flow Statement	141	12	(43)
Changes in working capital and other, excluding disposition amounts:
Accounts receivable	119	649	427
Inventories	259	(537)	(169)
Other current assets	60	(28)	(28)
Accounts payable and accrued liabilities	(60)	(106)	110
Accrued income taxes and timing of other tax payments	(29)	(634)	457
Net cash provided by operating activities	1,482	3,863	4,666
Cash flow from investing activities:
Capital expenditures	(2,652)	(1,971)	(1,410)
Acquisition of PT Rio Tinto Indonesia	0	(3,500)	0
Proceeds from sales of:
Other assets	109	93	72
Other, net	(12)	(97)	17
Net cash used in investing activities	(2,103)	(5,018)	(1,321)
Cash flow from financing activities:
Proceeds from debt	1,879	632	955
Repayments of debt	(3,197)	(2,717)	(3,812)
Proceeds from sale of PT-FI shares	0	3,500	0
Net proceeds from sale of common stock		3,500
Cash dividends and distributions paid:
Common stock	(291)	(218)	(2)
Noncontrolling interests	(82)	(278)	(174)
Other, net	(30)	(19)	(22)
Net cash (used in) provided by financing activities	(1,556)	900	(3,055)
Net (decrease) increase in cash, cash equivalents, restricted cash and restricted cash equivalents			290
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	(2,177)	(255)	290
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	2,278	4,455	4,710
Metals inventory adjustments	179	4	8
PT Indonesia Papua Metal dan Mineral
Proceeds from sales of:
Proceeds from sales		457
Timok and a portion of Freeport Cobalt [Member]
Proceeds from sales of:
Proceeds from sales	452	0
North America copper mines
Cash flow from investing activities:
Capital expenditures	(877)	(601)	(167)
South America
Cash flow from investing activities:
Capital expenditures	(256)	(237)	(115)
Indonesia
Cash flow from investing activities:
Capital expenditures	(1,369)	(1,001)	(875)
Molybdenum mines
Cash flow from investing activities:
Capital expenditures	(19)	(9)	(5)
Other
Cash flow from investing activities:
Capital expenditures	(131)	(123)	(248)
PT-FI
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount	0	(504)	0
Cerro Verde Royalty Dispute
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Settlement expense	65	371	355
Payments for Legal Settlements	(187)	$ (56)	$ (53)
PT Smelting
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Proceeds from Dividends Received	$ 40

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 2,020	$ 4,217
Trade accounts receivable	741	829
Income and other tax receivables	426	493
Inventories:
Total materials and supplies, net	1,649	1,528
Mill and leach stockpiles	1,143	1,197
Product	1,281	1,778
Other current assets	655	422
Total current assets	7,915	10,464
Property, plant, equipment and mine development costs, net	29,584	28,010
Long-term mill and leach stockpiles	1,425	1,570
Other assets	1,885	2,172
Total assets	40,809	42,216
Current liabilities:
Accounts payable and accrued liabilities	2,576	2,625
Accrued income taxes	119	165
Current portion of environmental and asset retirement obligations	436	449
Dividends Payable, Current	73	73
Current portion of debt	5	17
Total current liabilities	3,209	3,329
Long-term debt, less current portion	9,821	11,124
Deferred income taxes	4,210	4,032
Environmental and asset retirement obligations, less current portion	3,630	3,609
Other liabilities	2,491	2,230
Total liabilities	23,361	24,324
Stockholders’ equity:
Common stock, par value $0.10, 1,582 shares and 1,579 shares issued, respectively	158	158
Capital in excess of par value	25,830	26,013
Accumulated deficit	(12,280)	(12,041)
Accumulated other comprehensive loss	(676)	(605)
Common stock held in treasury – 131 shares and 130 shares, respectively, at cost	(3,734)	(3,727)
Total stockholders’ equity	9,298	9,798
Noncontrolling interests	8,150	8,094
Total equity	17,448	17,892
Total liabilities and equity	$ 40,809	$ 42,216

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Millions	Dec. 31, 2019	Dec. 31, 2018
Stockholders’ equity:
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares issued (in shares)	1,582	1,579
Common stock hold in treasury (in shares)	131	130

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Capital in Excess of Par Value	Accumulated Deficit	Accumulated Other Comprehensive Loss	Common Stock Held in Treasury	Total Stockholders’ Equity	Noncontrolling Interests
Balance (in shares) at Dec. 31, 2016		1,574				129
Balance at Dec. 31, 2016	$ 9,257	$ 157	$ 26,690	$ (16,540)	$ (548)	$ (3,708)	$ 6,051	$ 3,206
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercised and issued stock-based awards (in shares)		4
Exercised and issued stock-based awards	6	$ 1	5				6
Stock-based compensation, including tax benefit and the tender of shares	42		56			$ (15)	41	1
Stock-based compensation, including tax benefit and the tender of shares (in shares)						1
Dividends	(173)			1			1	(174)
Net loss attributable to common stockholders	1,817			1,817			1,817
Net income attributable to noncontrolling interests, including discontinued operations	278							278
Other comprehensive (loss) income	69				61		61	8
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	2,164
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 tax benefit and the tender of shares	66		70			$ (4)	66	0
Dividends	(569)		(291)				(291)	(278)
Net loss attributable to common stockholders	2,602			2,602			2,602
Net income attributable to noncontrolling interests, including discontinued operations	292							292
Other comprehensive (loss) income	(34)				(33)		(33)	(1)
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	2,860
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]
Noncontrolling Interest, Increase from Subsidiary Equity Issuance	4,231		(525)		(6)		(531)	4,762
Cumulative Effect of New Accounting Principle in Period of Adoption				79	(79)
Exercised and issued stock-based awards (in shares)		3
Exercised and issued stock-based awards	1		1				1
Stock-based compensation, including tax benefit and the tender of shares	44		50			$ (7)	43	1
Stock-based compensation, including tax benefit and the tender of shares (in shares)						1
Dividends	(364)		(291)				(291)	(73)
Changes in noncontrolling interests	(12)		(1)				(1)	(11)
Net loss attributable to common stockholders	(239)			(239)			(239)
Net income attributable to noncontrolling interests, including discontinued operations	50							50
Other comprehensive (loss) income	(68)				(71)		(71)	3
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	(257)
Balance (in shares) at Dec. 31, 2019		1,582				131
Balance at Dec. 31, 2019	17,448	$ 158	25,830	$ (12,280)	$ (676)	$ (3,734)	9,298	8,150
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adjustments to Additional Paid in Capital, Other	(22)		(22)				(22)
Proceeds from (Payments to) Noncontrolling Interests	$ 166		$ 80				$ 80	$ 86

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Notes)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation. The consolidated financial statements of Freeport-McMoRan Inc. (FCX) include the accounts of those subsidiaries where it directly or indirectly has more than 50 percent of the voting rights and/or has control over the subsidiary. As of December 31, 2019, the most significant entities that FCX consolidates include its 48.76 percent -owned subsidiary PT Freeport Indonesia (PT-FI), and the following wholly owned subsidiaries: Freeport Minerals Corporation (FMC) and Atlantic Copper, S.L.U. (Atlantic Copper). Refer to Notes 2 and 3 for further discussion, including FCX’s conclusion to consolidate PT-FI. FCX’s unincorporated joint ventures are reflected using the proportionate consolidation method (refer to Note 3 for further discussion). Investments in unconsolidated companies owned 20 percent or more are recorded using the equity method. Investments in unconsolidated companies owned less than 20 percent , and for which FCX does not exercise significant influence, are recorded at (i) fair value for those that have a readily determinable fair value or (ii) cost, less any impairment, for those that do not have a readily determinable fair value. All significant intercompany transactions have been eliminated. Dollar amounts in tables are stated in millions, except per share amounts. Business Segments. FCX has organized its mining operations into four primary divisions – North America copper mines, South America mining, Indonesia mining and Molybdenum mines, and operating segments that meet certain thresholds are reportable segments. FCX’s reportable segments include the Morenci, Bagdad, Cerro Verde and Grasberg (Indonesia mining) copper mines, the Rod & Refining operations and Atlantic Copper Smelting & Refining. Refer to Note 16 for further discussion. Use of Estimates. The preparation of FCX’s financial statements in conformity with accounting principles generally accepted in the United States (U.S.) requires management to make estimates and assumptions that affect the amounts reported in these financial statements and accompanying notes. The more significant areas requiring the use of management estimates include minerals reserve estimation; asset lives for depreciation, depletion and amortization; environmental obligations; asset retirement obligations; estimates of recoverable copper in mill and leach stockpiles; deferred taxes and valuation allowances; reserves for contingencies and litigation; asset acquisitions and impairment, including estimates used to derive future cash flows associated with those assets; pension benefits; and valuation of derivative instruments. Actual results could differ from those estimates. Functional Currency. The functional currency for the majority of FCX’s foreign operations is the U.S. dollar. For foreign subsidiaries whose functional currency is the U.S. dollar, monetary assets and liabilities denominated in the local currency are translated at current exchange rates, and non-monetary assets and liabilities, such as inventories, property, plant, equipment and mine development costs, are translated at historical rates. Gains and losses resulting from translation of such account balances are included in other (expense) income, net, as are gains and losses from foreign currency transactions. Foreign currency gains (losses) totaled $24 million in 2019 , $14 million in 2018 and $(5) million in 2017 . Cash Equivalents. Highly liquid investments purchased with maturities of three months or less are considered cash equivalents. Restricted Cash and Restricted Cash Equivalents. FCX’s restricted cash and restricted cash equivalents are primarily related to PT-FI’s commitment for the development of a new smelter in Indonesia; and guarantees and commitments for certain mine closure and reclamation obligations, and customs duty taxes. Restricted cash and restricted cash equivalents are classified as a current or long-term asset based on the timing and nature of when or how the cash is expected to be used or when the restrictions are expected to lapse. Restricted cash and restricted cash equivalents are comprised of time deposits and money market funds. Inventories. Inventories include materials and supplies, mill and leach stockpiles, and product inventories. Inventories are stated at the lower of weighted-average cost or net realizable value (NRV). Mill and Leach Stockpiles. Mill and leach stockpiles are work-in-process inventories for FCX’s mining operations. Mill and leach stockpiles contain ore that has been extracted from an ore body and is available for metal recovery. Mill stockpiles contain sulfide ores, and recovery of metal is through milling, concentrating and smelting and refining or, alternatively, by concentrate leaching. Leach stockpiles contain oxide ores and certain secondary sulfide ores and recovery of metal is through exposure to acidic solutions that dissolve contained copper and deliver it in solution to extraction processing facilities ( i.e., solution extraction and electrowinning (SX/EW)). The recorded cost of mill and leach stockpiles includes mining and haulage costs incurred to deliver ore to stockpiles, depreciation, depletion, amortization and site overhead costs. Material is removed from the stockpiles at a weighted-average cost per pound. Because it is impracticable to determine copper contained in mill and leach stockpiles by physical count, reasonable estimation methods are employed. The quantity of material delivered to mill and leach stockpiles is based on surveyed volumes of mined material and daily production records. Sampling and assaying of blasthole cuttings determine the estimated copper grade of the material delivered to mill and leach stockpiles. Expected copper recovery rates for mill stockpiles are determined by metallurgical testing. The recoverable copper in mill stockpiles, once entered into the production process, can be produced into copper concentrate almost immediately. Expected copper recovery rates for leach stockpiles are determined using small-scale laboratory tests, small- to large-scale column testing (which simulates the production process), historical trends and other factors, including mineralogy of the ore and rock type. Total copper recovery in leach stockpiles can vary significantly from a low percentage to more than 90 percent depending on several variables, including processing methodology, processing variables, mineralogy and particle size of the rock. For newly placed material on active stockpiles, as much as 80 percent of the total copper recovery may occur during the first year, and the remaining copper may be recovered over many years. Processes and recovery rates for mill and leach stockpiles are monitored regularly, and recovery rate estimates are adjusted periodically as additional information becomes available and as related technology changes. Adjustments to recovery rates will typically result in a future impact to the value of the material removed from the stockpiles at a revised weighted-average cost per pound of recoverable copper. Product. Product inventories include raw materials, work-in-process and finished goods. Raw materials are primarily unprocessed concentrate at Atlantic Copper’s smelting and refining operations. Work-in-process inventories are primarily copper concentrate at various stages of conversion into anode and cathode at Atlantic Copper’s operations. Atlantic Copper’s in-process inventories are valued at the weighted-average cost of the material fed to the smelting and refining process plus in-process conversion costs. Finished goods for mining operations represent salable products ( e.g. , copper and molybdenum concentrate, copper anode, copper cathode, copper rod, copper wire, molybdenum oxide, and high-purity molybdenum chemicals and other metallurgical products). Finished goods are valued based on the weighted-average cost of source material plus applicable conversion costs relating to associated process facilities. Costs of finished goods and work-in-process ( i.e. , not raw materials) inventories include labor and benefits, supplies, energy, depreciation, depletion, amortization, site overhead costs and other necessary costs associated with the extraction and processing of ore, such as mining, milling, smelting, leaching, SX/EW, refining, roasting and chemical processing. Corporate general and administrative costs are not included in inventory costs. Property, Plant, Equipment and Mine Development Costs. Property, plant, equipment and mine development costs are carried at cost. Mineral exploration costs, as well as drilling and other costs incurred for the purpose of converting mineral resources to proven and probable reserves or identifying new mineral resources at development or production stage properties, are charged to expense as incurred. Development costs are capitalized beginning after proven and probable mineral reserves have been established. Development costs include costs incurred resulting from mine pre-production activities undertaken to gain access to proven and probable reserves, including shafts, adits, drifts, ramps, permanent excavations, infrastructure and removal of overburden. 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 sustained 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. Additionally, interest expense allocable to the cost of developing mining properties and to constructing new facilities is capitalized until assets are ready for their intended use. Expenditures for replacements and improvements are capitalized. Costs related to periodic scheduled maintenance ( i.e. , turnarounds) are charged to expense as incurred. Depreciation for mining and milling life-of-mine assets, infrastructure and other common costs is determined using the unit-of-production (UOP) method based on total estimated recoverable proven and probable copper reserves (for primary copper mines) and proven and probable molybdenum reserves (for primary molybdenum mines). Development costs and acquisition costs for proven and probable mineral reserves that relate to a specific ore body are depreciated using the UOP method based on estimated recoverable proven and probable mineral reserves for the ore body benefited. Depreciation, depletion and amortization using the UOP method is recorded upon extraction of the recoverable copper or molybdenum from the ore body, at which time it is allocated to inventory cost and then included as a component of cost of goods sold. Other assets are depreciated on a straight-line basis over estimated useful lives for the related assets of up to 50 years for buildings and 3 to 50 years for machinery and equipment, and mobile equipment. Included in property, plant, equipment and mine development costs is value beyond proven and probable mineral reserves (VBPP), primarily resulting from FCX’s acquisition of FMC in 2007. The concept of VBPP may be interpreted differently by different mining companies. FCX’s VBPP is attributable to (i) mineralized material, which includes measured and indicated amounts, that FCX believes could be brought into production with the establishment or modification of required permits and should market conditions and technical assessments warrant, (ii) inferred mineral resources and (iii) exploration potential. Carrying amounts assigned to VBPP are not charged to expense until the VBPP becomes associated with additional proven and probable mineral reserves and the reserves are produced or the VBPP is determined to be impaired. Additions to proven and probable mineral reserves for properties with VBPP will carry with them the value assigned to VBPP at the date acquired, less any impairment amounts. Refer to Note 5 for further discussion. Impairment of Long-Lived Mining Assets. FCX assesses the carrying values of its long-lived mining assets for impairment when events or changes in circumstances indicate that the related carrying amounts of such assets may not be recoverable. In evaluating long-lived mining assets for recoverability, estimates of pre-tax undiscounted future cash flows of FCX’s individual mines are used. An impairment is considered to exist if total estimated undiscounted future cash flows are less than the carrying amount of the asset. Once it is determined that an impairment exists, an impairment loss is measured as the amount by which the asset carrying value exceeds its fair value. The estimated undiscounted cash flows used to assess recoverability of long-lived assets and to measure the fair value of FCX’s mining operations are derived from current business plans, which are developed using near-term price forecasts reflective of the current price environment and management’s projections for long-term average metal prices. In addition to near- and long-term metal price assumptions, other key assumptions include estimates of commodity-based and other input costs; proven and probable mineral reserves estimates, including the timing and cost to develop and produce the reserves; VBPP estimates; and the use of appropriate discount rates in the measurement of fair value. FCX believes its estimates and models used to determine fair value are similar to what a market participant would use. As quoted market prices are unavailable for FCX’s individual mining operations, fair value is determined through the use of after-tax discounted estimated future cash flows ( i.e. , Level 3 measurement). Deferred Mining Costs. Stripping costs ( i.e. , the costs of removing overburden and waste material to access mineral deposits) incurred during the production phase of an open-pit mine are considered variable production costs and are included as a component of inventory produced during the period in which stripping costs are incurred. Major development expenditures, including stripping costs to prepare unique and identifiable areas outside the current mining area for future production that are considered to be pre-production mine development, are capitalized and amortized using the UOP method based on estimated recoverable proven and probable reserves for the ore body benefited. However, where a second or subsequent pit or major expansion is considered to be a continuation of existing mining activities, stripping costs are accounted for as a current production cost and a component of the associated inventory. Environmental Obligations. Environmental expenditures are charged to expense or capitalized, depending upon their future economic benefits. Accruals for such expenditures are recorded when it is probable that obligations have been incurred and the costs can be reasonably estimated. Environmental obligations attributed to the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (CERCLA) or analogous state programs are considered probable when a claim is asserted, or is probable of assertion, and FCX, or any of its subsidiaries, have been associated with the site. Other environmental remediation obligations are considered probable based on specific facts and circumstances. FCX’s estimates of these costs are based on an evaluation of various factors, including currently available facts, existing technology, presently enacted laws and regulations, remediation experience, whether or not FCX is a potentially responsible party (PRP) and the ability of other PRPs to pay their allocated portions. With the exception of those obligations assumed in the acquisition of FMC that were initially recorded at estimated fair values (refer to Note 12 for further discussion), environmental obligations are recorded on an undiscounted basis. Where the available information is sufficient to estimate the amount of the obligation, that estimate has been used. Where the information is only sufficient to establish a range of probable liability and no point within the range is more likely than any other, the lower end of the range has been used. Possible recoveries of some of these costs from other parties are not recognized in the consolidated financial statements until they become probable. Legal costs associated with environmental remediation (such as fees to third-party legal firms for work relating to determining the extent and type of remedial actions and the allocation of costs among PRPs) are included as part of the estimated obligation. Environmental obligations assumed in the acquisition of FMC, which were initially recorded at fair value and estimated on a discounted basis, are accreted to full value over time through charges to interest expense. Adjustments arising from changes in amounts and timing of estimated costs and settlements may result in increases and decreases in these obligations and are calculated in the same manner as they were initially estimated. Unless these adjustments qualify for capitalization, changes in environmental obligations are charged to operating income when they occur. FCX performs a comprehensive review of its environmental obligations annually and also reviews changes in facts and circumstances associated with these obligations at least quarterly. Asset Retirement Obligations. FCX records the fair value of estimated asset retirement obligations (AROs) associated with tangible long-lived assets in the period incurred. Retirement obligations associated with long-lived assets are those for which there is a legal obligation to settle under existing or enacted law, statute, written or oral contract or by legal construction. These obligations, which are initially estimated based on discounted cash flow estimates, are accreted to full value over time through charges to cost of sales. In addition, asset retirement costs (ARCs) are capitalized as part of the related asset’s carrying value and are depreciated over the asset’s respective useful life. For mining operations, reclamation costs for disturbances are recognized as an ARO and as a related ARC in the period of the disturbance and depreciated primarily on a UOP basis. FCX’s AROs for mining operations consist primarily of costs associated with mine reclamation and closure activities. These activities, which are site specific, generally include costs for earthwork, revegetation, water treatment and demolition. For oil and gas properties, the fair value of the legal obligation is recognized as an ARO and as a related ARC in the period in which the well is drilled or acquired and is amortized on a UOP basis together with other capitalized costs. Substantially all of FCX’s oil and gas leases require that, upon termination of economic production, the working interest owners plug and abandon non-producing wellbores; remove platforms, tanks, production equipment and flow lines; and restore the wellsite. For non-operating properties without reserves, changes to the ARO are recorded in earnings. At least annually, FCX reviews its ARO estimates for changes in the projected timing of certain reclamation and closure/restoration costs, changes in cost estimates and additional AROs incurred during the period. Refer to Note 12 for further discussion. Revenue Recognition. FCX recognizes revenue for all of its products upon transfer of control in an amount that reflects the consideration it expects to receive in exchange for those products. Transfer of control is in accordance with the terms of customer contracts, which is generally upon shipment or delivery of the product. While payment terms vary by contract, terms generally include payment to be made within 30 days, but not longer than 60 days. Certain of FCX’s concentrate and cathode sales contracts also provide for provisional pricing, which is accounted for as an embedded derivative (refer to Note 14 for further discussion). For provisionally priced sales, 90 percent to 100 percent of the provisional payment is made upon shipment or within 20 days, and final balances are settled in a contractually specified future month (generally one to four months from the shipment date) based on quoted monthly average copper settlement prices on the London Metal Exchange (LME) or the Commodity Exchange Inc. (COMEX), a division of the New York Mercantile Exchange, and quoted monthly average London Bullion Market Association (LBMA) gold settlement prices. FCX’s product revenues are also recorded net of treatment charges, royalties and export duties. Moreover, because a portion of the metals contained in copper concentrate is unrecoverable as a result of the smelting process, FCX’s revenues from concentrate sales are also recorded net of allowances based on the quantity and value of these unrecoverable metals. These allowances are a negotiated term of FCX’s contracts and vary by customer. Treatment and refining charges represent payments or price adjustments to smelters and refiners that are generally fixed. Refer to Note 16 for a summary of revenue by product type. Gold sales are priced according to individual contract terms, generally the average LBMA gold settlement price for a specified month near the month of shipment. The majority of FCX’s molybdenum sales are priced based on the average published Metals Week price, plus conversion premiums for products that undergo additional processing, such as ferromolybdenum and molybdenum chemical products, for the month prior to the month of shipment. Stock-Based Compensation. Compensation costs for share-based payments to employees are measured at fair value and charged to expense over the requisite service period for awards that are expected to vest. The fair value of stock options is determined using the Black-Scholes-Merton option valuation model. The fair value for stock-settled restricted stock units (RSUs) is based on FCX’s stock price on the date of grant. Shares of common stock are issued at the vesting date for stock-settled RSUs. The fair value of performance share units (PSUs) are determined using FCX’s stock price and a Monte-Carlo simulation model. The fair value for liability-classified awards ( i.e. , cash-settled RSUs) is remeasured each reporting period using FCX’s stock price. FCX has elected to recognize compensation costs for stock option awards that vest over several years on a straight-line basis over the vesting period, and for RSUs on the graded-vesting method over the vesting period. Refer to Note 10 for further discussion. 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 (after deducting accumulated dividends and undistributed earnings to participating securities) by the weighted-average shares of common stock outstanding during the year. 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 for the years ended December 31 follow: 2019 2018 2017 Net (loss) income from continuing operations $ (192 ) $ 2,909 $ 2,029 Net income from continuing operations attributable to noncontrolling interests (50 ) (292 ) (274 ) Accumulated dividends and undistributed earnings allocated to participating securities (3 ) (4 ) (4 ) Net (loss) income from continuing operations attributable to common stockholders (245 ) 2,613 1,751 Net income (loss) from discontinued operations 3 (15 ) 66 Net income from discontinued operations attributable to noncontrolling interests — — (4 ) Net income (loss) from discontinued operations attributable to common stockholders 3 (15 ) 62 Net (loss) income attributable to common stockholders $ (242 ) $ 2,598 $ 1,813 Basic weighted-average shares of common stock outstanding (millions) 1,451 1,449 1,447 Add shares issuable upon exercise or vesting of dilutive stock options and RSUs (millions) — a 9 a 7 Diluted weighted-average shares of common stock outstanding (millions) 1,451 1,458 1,454 Basic net (loss) income per share attributable to common stockholders: Continuing operations $ (0.17 ) $ 1.80 $ 1.21 Discontinued operations — (0.01 ) 0.04 $ (0.17 ) $ 1.79 $ 1.25 Diluted net (loss) income per share attributable to common stockholders: Continuing operations $ (0.17 ) $ 1.79 $ 1.21 Discontinued operations — (0.01 ) 0.04 $ (0.17 ) $ 1.78 $ 1.25 a. Excludes approximately 11 million shares of common stock in 2019 and 1 million in 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 year are excluded from the computation of diluted net (loss) income per share of common stock. Stock options for 42 million shares of common stock in 2019 , 37 million shares in 2018 and 41 million shares in 2017 were excluded. New Accounting Standards. Following is a discussion of new accounting standards. Income Taxes. In December 2019, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) that simplifies the accounting for income taxes by eliminating certain exceptions related to the approach for intra-period tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. FCX adopted this ASU effective December 31, 2019, and the adoption of this ASU did not have a material impact on its consolidated financial statements. 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. FCX adopted this ASU effective January 1, 2020, and the adoption of this ASU did not have a material impact on its consolidated financial statements. Leases. In February 2016, FASB issued an ASU that requires lessees to recognize most leases on the balance sheet. FCX adopted this ASU effective January 1, 2019, and 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. 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. Reclassifications. For comparative purposes, certain prior year amounts have been reclassified to conform with the current year presentation. The reclassifications relate to a change in methodology for determining current leach stockpiles (refer to Note 4) and a revision to FCX’s presentation of business segments to include a new reportable segment (refer to Note 16).

DISPOSITIONS AND ACQUISITIONS D

DISPOSITIONS AND ACQUISITIONS DISPOSITIONS AND ACQUISITIONS	12 Months Ended
	Dec. 31, 2019
Dispositions And Acquisitions [Abstract]
DISPOSITIONS AND ACQUISITIONS	DISPOSITIONS PT-FI Divestment. On December 21, 2018, FCX completed the transaction with the Indonesia government regarding PT-FI’s long-term mining rights and share ownership. Pursuant to the previously announced divestment agreement and related documents, PT Indonesia Asahan Aluminium (Persero) (PT Inalum), an Indonesia state-owned enterprise, acquired for cash consideration of $3.85 billion all of Rio Tinto plc's (Rio Tinto) interests associated with its joint venture with PT-FI (the former Rio Tinto Joint Venture) and 100 percent of FCX's interests in PT Indonesia Papua Metal Dan Mineral (PTI - formerly known as PT Indocopper Investama), which at the time owned 9.36 percent of PT-FI. Of the $3.85 billion in cash consideration, Rio Tinto received $3.5 billion and FCX received $350 million . In addition, Rio Tinto paid FCX $107 million for its share of the 2018 joint venture cash flows. In connection with the transaction, an aggregate 40 percent share ownership in PT-FI was issued to PT Inalum and PTI (which is expected to be owned by PT Inalum and the provincial/regional government in Papua). Based on a subscription of PT Inalum’s rights to acquire for cash consideration of $3.5 billion all of Rio Tinto’s interests in the former Rio Tinto Joint Venture, PT-FI acquired all of the common stock of the entity (PT Rio Tinto Indonesia) that held Rio Tinto’s interest. After the transaction, PT Inalum’s ( 26.24 percent ) and PTI’s ( 25.00 percent ) collective share ownership of PT-FI totals 51.24 percent and FCX's share ownership totals 48.76 percent . The arrangements provide for FCX and the other pre-transaction PT-FI shareholders ( i.e. , PT Inalum and PTI) to retain the economics of the revenue and cost sharing arrangements under the former Rio Tinto Joint Venture. As a result, FCX’s economic interest in PT-FI is expected to approximate 81 percent from 2019 through 2022. The divestment agreement provides that FCX will indemnify PT Inalum and PTI from any losses (reduced by receipts) arising from any tax disputes of PT-FI disclosed to PT Inalum in a Jakarta, Indonesia tax court letter limited to PTI’s respective percentage share at the time the loss is finally incurred. Any net obligations arising from any tax settlement would be paid on December 21, 2025. As of December 31, 2019, FCX had accrued $33 million (included in other liabilities in the consolidated balance sheet at December 31, 2019) related to this indemnification. FCX, PT-FI, PTI and PT Inalum entered into a shareholders agreement (the PT-FI Shareholders Agreement), which includes provisions related to the governance and management of PT-FI. FCX considered the terms of the PT-FI Shareholders Agreement and related governance structure, including whether PT Inalum has substantive participating rights, and concluded that it has retained control and would continue to consolidate PT-FI in its financial statements following the transaction. Among other terms, the governance arrangements under the PT-FI Shareholders Agreement transfers control over the management of PT-FI’s mining operations to an operating committee, which is controlled by FCX. Additionally, as discussed above, the existing PT-FI shareholders will retain the economics of the revenue and cost sharing arrangements under the former Rio Tinto Joint Venture, so that FCX’s economic interest in the project through 2041 will not be significantly affected by the transaction. FCX believes its conclusion to continue to consolidate PT-FI in its financial statements is in accordance with the U.S. Securities and Exchange Commission Regulation S-X, Rule 3A-02 (a), which provides for situations in which consolidation of an entity, notwithstanding the lack of majority ownership, is necessary to present fairly the financial position and results of operations of the registrant, because of the existence of a parent-subsidiary relationship by means other than record ownership of voting stock. FCX also analyzed PT-FI’s acquisition of the Rio Tinto Joint Venture interests and concluded the transaction should be accounted for as an asset acquisition as substantially all of the fair value of the gross assets acquired is concentrated in mineral reserves and related long-lived mining assets. The acquisition was a single asset because substantially all of the acquired assets are linked to each other and cannot be physically removed without causing a significant diminution to the fair value of the other assets. PT-FI allocated the $3.5 billion purchase price to the assets acquired and liabilities assumed based on their estimated fair values on the acquisition date. The fair value estimates were based on, but not limited to, long-term metal price assumptions of $3.00 per pound of copper and $1,300 per ounce of gold; expected future cash flows based on estimated reserve quantities; costs to produce and develop the related reserves; current replacement cost for similar capacity for certain fixed assets; and appropriate discount rates using an estimated international cost of capital of 14 percent . The estimates were primarily based on significant inputs not observable in the market (as discussed above) and thus represent Level 3 measurements. The following table summarizes the allocation of the purchase price: Current assets $ 25 Property, plant, equipment and mine development costs: Mineral reserves 3,056 Mine development, infrastructure and other 1,559 Liabilities other than taxes (77 ) Deferred income taxes, net (1,063 ) a Total purchase price $ 3,500 a. Deferred income taxes have been recognized on the fair value adjustments to net assets using an Indonesia corporate income tax rate of 25 percent . Under applicable accounting guidance, changes in ownership that do not result in a change in control are accounted for as equity transactions with no impact on net income. The following table summarizes the consolidated impact of the transaction discussed above on FCX’s consolidated balance sheet as of December 21, 2018: Cash $ 458 Other current assets 23 Property, plant, equipment and mine development costs: Mineral reserves 3,056 Mine development, infrastructure and other 1,559 Liabilities other than taxes (77 ) Deferred income taxes, net (788 ) Noncontrolling interests (4,762 ) a Capital in excess of par value 531 a. Primarily reflects the approximate 40 percent economic interest in the former Rio Tinto Joint Venture for the period from 2023 through 2041, which was acquired by PTI and PT Inalum. FCX considered if the adjustment to capital in excess of par value was an indicator of impairment and after considering other factors, such as PT-FI’s historical results and projected undiscounted cash flows, concluded that it did not indicate a potential impairment at PT-FI. Attribution of PT-FI Net Income or Loss. FCX has concluded that the attribution of PT-FI’s net income or loss from December 21, 2018 (the date of the divestment transaction), through December 31, 2022 (the Initial Period), should be based on the economics replacement agreement, as previously discussed. 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 for 2019 totaled $203 million , of which $165 million was attributed to FCX. PT-FI’s cumulative net loss since December 21, 2018, through December 31, 2019, totaled $339 million , of which $276 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. Cobalt Business. In fourth-quarter 2019 , FCX completed the sale of its cobalt refinery in Kokkola, Finland, and related cobalt cathode precursor business (consisting of approximately $271 million of assets and $63 million of liabilities at the time of closing) to Umicore for total cash consideration of approximately $200 million , including approximately $50 million of working capital. Under the terms of the agreement, FCX separated its cobalt business, and Umicore acquired the refinery and cathode precursor business. 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. Lundin Mining Corporation, one of the noncontrolling interest partners, received 30 percent of the proceeds from this transaction. FCX recorded a gain of $59 million in 2019 associated with this transaction. Timok Transaction. In 2016, FCX sold an interest in the upper zone of the Timok exploration project in Serbia (the 2016 Transaction). In December 2019, FCX completed the sale of 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 the right to future contingent payments of up to $150 million . These future contingent 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 lower zone, the purchaser can settle, or FCX can demand payment of, such deferred payment obligation, in each case, for a total of $60 million . As these deferred payments are contingent upon future production (the Timok project is still in the exploration phase) and would result in gain recognition, no amounts were recorded upon the closing of the transaction. Subsequent recognition will be based on the gain contingency model, in which the consideration would be recorded in the period in which all contingencies are resolved and the gain is realized. This is expected to be when FCX (i) is provided periodic product sales information by the purchaser or (ii) gives notice to the purchaser or receives notice from the purchaser regarding the settlement of the deferred payments for $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. As a result of this transaction, FCX recorded a gain of $343 million , consisting of the cash consideration ( $240 million ) and the aggregate discounted amount of the three installment payments ( $103 million ). Oil and Gas Operations. In 2016, FCX sold the majority of its oil and gas assets held by its wholly owned subsidiary, FCX Oil & Gas LLC (FM O&G). In 2019, FM O&G sold certain property interests for cash consideration of $36 million (before closing adjustments), which resulted in the recognition of a gain of $20 million . In 2018, FM O&G disposed of certain property interests that resulted in the recognition of a gain of $27 million , primarily associated with the abandonment obligations that were assumed by the acquirer. In 2017, FM O&G sold certain property interests for cash consideration of $80 million (before closing adjustments), which resulted in the recognition of gains of $49 million . TF Holdings Limited - Discontinued Operations. In November 2016, FCX completed the sale of its 70 percent interest in TF Holdings Limited (TFHL) to China Molybdenum Co., Ltd. for $2.65 billion in cash (before closing adjustments) and contingent consideration of up to $120 million in cash, consisting of $60 million if the average copper price exceeds $3.50 per pound and $60 million if the average cobalt price exceeds $20 per pound, both during the 24-month period ending December 31, 2019. The contingent consideration was considered a derivative, and the fair value was adjusted through December 31, 2019. FCX realized and collected in January 2020 contingent consideration of $60 million because the average cobalt price exceeded $20 per pound during the 24-month period ending December 31, 2019 (no amount was realized associated with the copper price), and was included in other current assets in the consolidated balance sheet at December 31, 2019. The fair value of the contingent consideration derivative was $57 million at December 31, 2018 (included in other assets). Gains (losses) resulting from changes in the fair value of the contingent consideration derivative totaling $3 million in 2019, $(17) million in 2018 and $61 million in 2017 were included in net income (loss) from discontinued operations and primarily resulted from fluctuations in cobalt and copper prices. In accordance with accounting guidance, FCX reported the results from TFHL as discontinued operations in the consolidated statements of operations because the disposal represented a strategic shift that had a major effect on operations. The consolidated statements of comprehensive (loss) income were not impacted by discontinued operations as TFHL did not have any other comprehensive income (loss), and the consolidated statements of cash flows are reported on a combined basis without separately presenting discontinued operations. Net income (loss) from discontinued operations in the consolidated statements of operations consists of the following: Years Ended December 31, 2019 2018 2017 Income before income taxes and net gain (loss) on disposal $ — $ — $ 13 a Net gain (loss) on disposal b 3 (15 ) 57 Net income (loss) before income taxes 3 (15 ) 70 Provision for income taxes — — (4 ) Net income (loss) from discontinued operations $ 3 $ (15 ) $ 66 a. In accordance with accounting guidance, reflects the recognition of intercompany sales. b.

OWNERSHIP IN SUBSIDIARIES AND J

OWNERSHIP IN SUBSIDIARIES AND JOINT VENTURES	12 Months Ended
	Dec. 31, 2019
Equity Method Investments and Joint Ventures [Abstract]
Ownership In Subsidiaries And Joint Ventures	OWNERSHIP IN SUBSIDIARIES AND JOINT VENTURES Ownership in Subsidiaries. FMC produces copper and molybdenum, with mines in North America and South America. At December 31, 2019 , FMC’s operating mines in North America were Morenci, Bagdad, Safford, Sierrita and Miami located in Arizona; Tyrone and Chino located in New Mexico; and Henderson and Climax located in Colorado. FCX has a 72 percent interest in Morenci (refer to “Joint Ventures – Sumitomo and SMM Morenci, Inc.”) and owns 100 percent of the other North America mines. At December 31, 2019 , operating mines in South America were Cerro Verde ( 53.56 percent owned) located in Peru and El Abra ( 51 percent owned) located in Chile. At December 31, 2019 , FMC’s net assets totaled $14.5 billion and its accumulated deficit totaled $16.0 billion . FCX had no loans outstanding to FMC at December 31, 2019 . FCX’s direct share ownership in PT-FI totaled 81.28 percent through December 21, 2018, and 48.76 percent thereafter. PTI owned 9.36 percent of PT-FI and FCX owned 100 percent of PTI through December 21, 2018. Refer to Note 2 for a discussion of the PT-FI divestment. Refer to “Joint Ventures - Former Rio Tinto Joint Venture” for discussion of PT-FI’s unincorporated joint venture. At December 31, 2019 , PT-FI’s net assets totaled $10.4 billion and its retained earnings totaled $6.4 billion . FCX had $973 million in intercompany loans to PT-FI outstanding at December 31, 2019 . FCX owns 100 percent of the outstanding Atlantic Copper common stock. At December 31, 2019 , Atlantic Copper’s net assets totaled $38 million and its accumulated deficit totaled $411 million . FCX had $324 million in intercompany loans to Atlantic Copper outstanding at December 31, 2019 . Joint Ventures. FCX has the following unincorporated joint ventures. Former Rio Tinto Joint Venture. On December 21, 2018, PT-FI acquired Rio Tinto’s interest in the joint venture and is consolidating 100 percent of the Indonesia operations (refer to Note 2 for discussion of the PT-FI divestment). Pursuant to Rio Tinto’s previous joint venture agreement with PT-FI, Rio Tinto had a 40 percent interest in certain assets and future production exceeding specified annual amounts of copper, gold and silver through 2022 in Block A of PT-FI’s former Contract of Work (COW), and, after 2022, a 40 percent interest in all production from Block A. Sumitomo and SMM Morenci, Inc. FMC owns a 72 percent undivided interest in Morenci via an unincorporated joint venture. The remaining 28 percent is owned by Sumitomo ( 15 percent ) and SMM Morenci, Inc. ( 13 percent ). Each partner takes in kind its share of Morenci’s production. FMC purchased 147 million pounds of Morenci’s copper cathode from Sumitomo and SMM Morenci, Inc. at market prices for $397 million during 2019 . FMC had receivables from Sumitomo and SMM Morenci, Inc. totaling $19 million at December 31, 2019 , and $13 million at December 31, 2018 .

INVENTORIES, INCLUDING LONG-TER

INVENTORIES, INCLUDING LONG-TERM MILL AND LEACH STOCKPILES	12 Months Ended
	Dec. 31, 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: December 31, 2019 2018 Current inventories: Total materials and supplies, net a $ 1,649 $ 1,528 Mill stockpiles $ 220 $ 282 Leach stockpiles 923 915 b Total current mill and leach stockpiles $ 1,143 $ 1,197 b Raw materials (primarily concentrate) $ 318 $ 260 Work-in-process 124 192 Finished goods 839 1,326 Total product $ 1,281 $ 1,778 Long-term inventories: Mill stockpiles $ 181 $ 265 Leach stockpiles 1,244 1,305 b Total long-term mill and leach stockpiles c $ 1,425 $ 1,570 b a. Materials and supplies inventory was net of obsolescence reserves totaling $24 million at December 31, 2019 and 2018 . b. In fourth-quarter 2019, FCX changed its method of estimating the current portion of its leach stockpiles and revised its December 31, 2018, balances to conform with the new methodology resulting in a $256 million decrease in the current balance and a corresponding increase in the long-term balance. c. Estimated metals in stockpiles not expected to be recovered within the next 12 months. FCX recorded charges to adjust metals inventory carrying values to NRV totaling $179 million in 2019 , associated with molybdenum inventories ( $84 million ), cobalt inventories ( $58 million ) and copper inventories ( $37 million ), primarily because of lower market prices; $4 million in 2018; and $8 million in 2017. Refer to Note 16 for metals inventory adjustments by business segment.

PROPERTY, PLANT, EQUIPMENT AND

PROPERTY, PLANT, EQUIPMENT AND MINING DEVELOPMENT COSTS, NET	12 Months Ended
	Dec. 31, 2019
Property, Plant and Equipment, Net [Abstract]
Property, Plant, Equipment and Mining Development Costs, Net	PROPERTY, PLANT, EQUIPMENT AND MINE DEVELOPMENT COSTS, NET The components of net property, plant, equipment and mine development costs follow: December 31, 2019 2018 Proven and probable mineral reserves $ 7,087 $ 7,089 VBPP 465 477 Mine development and other 8,180 8,195 Buildings and infrastructure 8,435 8,051 Machinery and equipment 13,312 12,985 Mobile equipment 4,320 4,010 Construction in progress 4,265 3,006 Oil and gas properties 27,293 27,292 Total 73,357 71,105 Accumulated depreciation, depletion, and amortization a (43,773 ) (43,095 ) Property, plant, equipment and mine development costs, net $ 29,584 $ 28,010 a. Includes accumulated amortization for oil and gas properties of $27.3 billion at December 31, 2019 and 2018 . FCX recorded $1.7 billion for VBPP in connection with the FMC acquisition in 2007 (excluding $544 million associated with mining operations that were subsequently sold) and transferred $811 million to proven and probable mineral reserves through 2019 ( none in 2019 and $59 million in 2018 ). Cumulative impairments of and adjustments to VBPP total $497 million , which were primarily recorded in 2008. Capitalized interest, which primarily related to FCX’s mining operations’ capital projects, totaled $149 million in 2019 , $96 million in 2018 and $121 million in 2017 . During 2018 and 2019, FCX concluded there were no events or changes in circumstances that would indicate that the carrying amount of its long-lived mining assets might not be recoverable.

OTHER ASSETS

OTHER ASSETS	12 Months Ended
	Dec. 31, 2019
Other Assets [Abstract]
Other Assets Disclosure	OTHER ASSETS The components of other assets follow: December 31, 2019 2018 Disputed tax assessments: a PT-FI $ 178 $ 493 Cerro Verde 187 183 Long-term receivable for taxes b 290 260 Intangible assets c 402 398 Investments: Assurance bond d 157 126 PT Smelting e 80 125 Fixed income, equity securities and other 66 65 Legally restricted funds f 196 181 Contingent consideration associated with sales of assets g 115 189 Timok transaction receivable (refer to Note 2) 58 — Long-term employee receivables 22 20 Other 134 132 Total other assets $ 1,885 $ 2,172 a. Refer to Note 12 for further discussion. b. Includes tax overpayments and refunds not expected to be realized within the next 12 months (primarily associated with U.S. tax reform, refer to Note 11). c. Indefinite-lived intangible assets totaled $215 million at December 31, 2019 and 2018 . Accumulated amortization of definite-lived intangible assets totaled $54 million at December 31, 2019 , and $51 million at December 31, 2018 . d. Relates to PT-FI’s commitment for the development of a new smelter in Indonesia (refer to Note 13 for further discussion). e. PT-FI’s 25 percent ownership in PT Smelting (smelter and refinery in Gresik, Indonesia) is recorded using the equity method. Amounts were reduced by unrecognized profits on sales from PT-FI to PT Smelting totaling $29 million at December 31, 2019 , and $11 million at December 31, 2018 . Trade accounts receivable from PT Smelting totaled $261 million at December 31, 2019 , and $176 million at December 31, 2018 . f. Includes $196 million at December 31, 2019 , and $180 million at December 31, 2018 , held in trusts for AROs related to properties in New Mexico (refer to Note 12 for further discussion). g. Refer to Note 15 for further discussion.

ACCOUNTS PAYABLE AND ACCRUED LI

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	12 Months Ended
	Dec. 31, 2019
Accounts Payable and Accrued Liabilities, Current [Abstract]
Accounts Payable and Accrued Liabilities	ACCOUNTS PAYABLE AND ACCRUED LIABILITIES The components of accounts payable and accrued liabilities follow: December 31, 2019 2018 Accounts payable $ 1,654 $ 1,661 Salaries, wages and other compensation 249 273 Accrued interest a 178 183 PT-FI contingencies b 115 162 Legal matters 88 16 Accrued taxes, other than income taxes 79 109 Pension, postretirement, postemployment and other employee benefits c 69 78 Leases d 44 — Other 100 143 Total accounts payable and accrued liabilities $ 2,576 $ 2,625 a. Third-party interest paid, net of capitalized interest, was $591 million in 2019 , $500 million in 2018 and $565 million in 2017 . b. Refer to Note 12 for further discussion. c. Refer to Note 9 for long-term portion. d. Refer to Note 13 for further discussion.

DEBT

DEBT	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Debt	DEBT FCX’s debt at December 31, 2019 , included additions of $11 million ( $58 million at December 31, 2018 ) for unamortized fair value adjustments, and is net of reductions of $66 million ( $69 million at December 31, 2018 ) for unamortized net discounts and unamortized debt issuance costs. The components of debt follow: December 31, 2019 2018 Revolving credit facility $ — $ — Cerro Verde credit facility 826 1,023 Senior notes and debentures: Issued by FCX: 3.100% Senior Notes due 2020 — 999 4.00% Senior Notes due 2021 194 597 3.55% Senior Notes due 2022 1,876 1,886 6.875% Senior Notes due 2023 — 768 3.875% Senior Notes due 2023 1,917 1,915 4.55% Senior Notes due 2024 846 845 5.00% Senior Notes due 2027 592 — 5.25% Senior Notes due 2029 592 — 5.40% Senior Notes due 2034 741 741 5.450% Senior Notes due 2043 1,844 1,843 Issued by FMC: 7 1 / 8 % Debentures due 2027 115 115 9½% Senior Notes due 2031 125 126 6 1 / 8 % Senior Notes due 2034 117 117 Other 41 166 Total debt 9,826 11,141 Less current portion of debt (5 ) (17 ) Long-term debt $ 9,821 $ 11,124 Revolving Credit Facility. At December 31, 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. For PT-FI, $500 million of the revolving credit facility is available. In May 2019, FCX, PT-FI and Freeport-McMoRan Oil & Gas LLC (FM O&G LLC) amended the $3.5 billion , five -year, unsecured revolving credit facility to extend $3.26 billion of the facility by one year to April 20, 2024, with the remaining $240 million maturing on April 20, 2023. In November 2019, the revolving credit facility was amended to allow flexibility during ongoing transition to underground mining at Grasberg. The November 2019 amendment modified (i) the total leverage ratio from 3.75 x to 5.25 x through June 30, 2021 and (ii) the calculation of the total debt component used to determine the total leverage ratio by adjusting the amount of unrestricted cash that may be applied to reduce the amount of total debt from $2.5 billion to $1.25 billion through June 30, 2021. Interest on loans made under the new revolving credit facility is, at the option of FCX, determined based on the adjusted London Interbank Offered rate (LIBOR) or the alternate base rate (each as defined in the revolving credit facility) plus a spread to be determined by reference to FCX’s credit ratings. Cerro Verde Credit Facility. In March 2014, Cerro Verde entered into a five -year, $1.8 billion senior unsecured credit facility that is nonrecourse to FCX and the other shareholders of Cerro Verde. In June 2017, Cerro Verde’s credit facility was amended (balance outstanding at the time of amendment was $1.275 billion ) to increase the commitment by $225 million to $1.5 billion , to modify the amortization schedule and to extend the maturity date to June 19, 2022. The amended credit facility amortizes in four installments, with $225 million due on December 31, 2020 (which was fully prepaid during 2018), $225 million due on June 30, 2021 (which was fully prepaid during 2018), $525 million due on December 31, 2021 (of which $200 million was prepaid during 2019 and $20 million was prepaid during 2018), and the remaining balance due on the maturity date of June 19, 2022. All other terms, including the interest rates, remain the same. Interest under the term loan is based on LIBOR plus a spread based on Cerro Verde’s total net debt to earnings before interest, taxes, depreciation and amortization (EBITDA) ratio as defined in the agreement. The interest rate on Cerro Verde’s credit facility was 3.70 percent at December 31, 2019. Cerro Verde Shareholder Loans. In December 2014, Cerro Verde entered into loan agreements with three of its shareholders for borrowings up to $800 million . No amounts were outstanding at December 31, 2019 and 2018, and availability under these agreements totals $200 million at December 31, 2019 . Senior Notes issued by FCX. In August 2019, FCX sold $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. 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. The 4.00% Senior Notes due 2021 are redeemable in whole or in part, at the option of FCX, at a make-whole redemption price. The 5.00% Senior Notes due 2027 are redeemable in whole or in part, at the option of FCX, at a make-whole redemption price prior to September 1, 2022, and at specified redemption prices thereafter. The 5.25% Senior Notes due 2029 are redeemable in whole or in part, at the option of FCX, at a make-whole redemption price prior to September 1, 2024, and at specified redemption prices thereafter. The senior notes listed below are redeemable in whole or in part, at the option of FCX, at a make-whole redemption price prior to the dates stated below, and beginning on the dates stated below at 100 percent of principal. Debt Instrument Date 3.55% Senior Notes due 2022 December 1, 2021 3.875% Senior Notes due 2023 December 15, 2022 4.55% Senior Notes due 2024 August 14, 2024 5.40% Senior Notes due 2034 May 14, 2034 5.450% Senior Notes due 2043 September 15, 2042 These senior notes rank equally with FCX’s other existing and future unsecured and unsubordinated indebtedness. Early Extinguishment of Debt. During 2019, 2018 and 2017, FCX redeemed in full or purchased a portion of the following senior notes. Principal Amount Net Adjustments Book Value Redemption/Tender Value Loss/(Gain) Year Ended December 31, 2019 FCX 3.100% Senior Notes due 2020 $ 1,000 $ (2 ) $ 998 $ 1,003 $ 5 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 — Total $ 2,145 $ 30 $ 2,175 $ 2,201 $ 26 Year Ended December 31, 2018 FCX 6.75% Senior Notes due 2022 $ 404 $ 22 $ 426 $ 418 $ (8 ) FM O&G LLC 6 7 / 8 % Senior Notes due 2023 50 4 54 52 (2 ) Total $ 454 $ 26 $ 480 $ 470 $ (10 ) Year Ended December 31, 2017 FCX 2.375% Senior Notes due 2018 $ 74 $ — $ 74 $ 74 $ — FCX 6.125% Senior Notes due 2019 179 5 184 182 (2 ) FM O&G LLC 6.125% Senior Notes due 2019 58 2 60 59 (1 ) FCX 6½% Senior Notes due 2020 552 23 575 562 (13 ) FM O&G LLC 6½% Senior Notes due 2020 65 3 68 66 (2 ) FCX 6.625% Senior Notes due 2021 228 12 240 234 (6 ) FM O&G LLC 6.625% Senior Notes due 2021 33 2 35 34 (1 ) FM O&G LLC 6.750% Senior Notes due 2022 45 2 47 46 (1 ) Total $ 1,234 $ 49 $ 1,283 $ 1,257 $ (26 ) In addition, FCX recorded net losses of $1 million in 2019, $3 million in 2018 and $5 million in 2017, primarily associated with Cerro Verde’s prepayments on its credit facility and the modification of Cerro Verde’s credit facility in 2017. Guarantees. Refer to Note 17 for a discussion of FCX’s senior notes guaranteed by FM O&G LLC. Restrictive Covenants. FCX’s revolving credit facility contains customary affirmative covenants and representations, and also contains a number of negative covenants that, among other things, restrict, subject to certain exceptions, the ability of FCX’s subsidiaries that are not borrowers or guarantors to incur additional indebtedness (including guarantee obligations) and FCX’s or its subsidiaries’ abilities to: create liens on assets; enter into sale and leaseback transactions; engage in mergers, liquidations and dissolutions; and sell assets. FCX’s revolving credit facility also contains financial ratios governing maximum total leverage and minimum interest expense coverage. FCX’s leverage ratio (ratio of total debt to consolidated EBITDA, as defined in the credit agreement) cannot exceed 5.25 x during the quarterly periods ending December 31, 2019, through and including June 30, 2021, and cannot exceed 3.75 x for the quarterly periods ending on or after September 30, 2021, and the minimum interest expense coverage ratio (ratio of consolidated EBITDA to consolidated cash interest expense, as defined in the credit agreement) is 2.25 x. FCX’s senior notes contain limitations on liens. At December 31, 2019 , FCX was in compliance with all of its covenants. Maturities. Maturities of debt instruments based on the principal amounts and terms outstanding at December 31, 2019 , total $12 million in 2020 , $507 million in 2021 , $2.4 billion in 2022 , $1.9 billion in 2023 , $850 million in 2024 and $4.2 billion thereafter.

OTHER LIABILITIES, INCLUDING EM

OTHER LIABILITIES, INCLUDING EMPLOYEE BENEFITS	12 Months Ended
	Dec. 31, 2019
Other Liabilities, Including Employee Benefits [Abstract]
Other Liabilities	OTHER LIABILITIES, INCLUDING EMPLOYEE BENEFITS The components of other liabilities follow: December 31, 2019 2018 Pension, postretirement, postemployment and other employment benefits a $ 1,318 $ 1,174 Cerro Verde royalty dispute 502 631 Provision for tax positions 255 230 Leases b 204 — Other 212 195 Total other liabilities $ 2,491 $ 2,230 a. Refer to Note 7 for current portion. b. Refer to Note 13 for further discussion. Pension Plans. Following is a discussion of FCX’s pension plans. FMC Plans. FMC has U.S. trusteed, non-contributory pension plans covering substantially all of its U.S. employees and some employees of its international subsidiaries hired before 2007. The applicable FMC plan design determines the manner in which benefits are calculated for any particular group of employees. Benefits are calculated based on final average monthly compensation and years of service or based on a fixed amount for each year of service. Non-bargained FMC employees hired after December 31, 2006, are not eligible to participate in the FMC U.S. pension plan. FCX’s funding policy for these plans provides that contributions to pension trusts shall be at least equal to the minimum funding requirements of the Employee Retirement Income Security Act of 1974, as amended, for U.S. plans; or, in the case of international plans, the minimum legal requirements that may be applicable in the various countries. Additional contributions also may be made from time to time. FCX’s policy for determining asset-mix targets for the FMC plan assets held in a master trust (Master Trust) includes the periodic development of asset allocation studies and review of the liabilities to determine expected long-term rates of return and expected risk for various investment portfolios. FCX’s retirement plan administration and investment committee considers these studies in the formal establishment of asset-mix targets defined in the investment policy. FCX’s investment objective emphasizes diversification through both the allocation of the Master Trust assets among various asset classes and the selection of investment managers whose various styles are fundamentally complementary to one another and serve to achieve satisfactory rates of return. Diversification, by asset class and by investment manager, is FCX’s principal means of reducing volatility and exercising prudent investment judgment. FCX’s present target asset allocation approximates 42 percent equity investments (primarily global equities), 50 percent fixed income (primarily long-term treasury STRIPS or “separate trading or registered interest and principal securities”; long-term U.S. treasury/agency bonds; global fixed income securities; long-term, high-credit quality corporate bonds; high-yield and emerging markets fixed income securities; and fixed income debt securities) and 8 percent alternative investments (private real estate, real estate investment trusts and private equity). The expected rate of return on plan assets is evaluated at least annually, taking into consideration asset allocation, historical and expected future performance on the types of assets held in the Master Trust, and the current economic environment. Based on these factors, FCX expects the pension assets will earn an average of 6.25 percent per annum beginning January 1, 2020, which was based on the target asset allocation and long-term capital market return expectations. For estimation purposes, FCX assumes the long-term asset mix for these plans generally will be consistent with the current mix. Changes in the asset mix could impact the amount of recorded pension costs, the funded status of the plans and the need for future cash contributions. A lower-than-expected return on assets also would decrease plan assets and increase the amount of recorded pension costs in future years. When calculating the expected return on plan assets, FCX uses the market value of assets. Among the assumptions used to estimate the pension benefit obligation is a discount rate used to calculate the present value of expected future benefit payments for service to date. The discount rate assumption for FCX’s U.S. plans is designed to reflect yields on high-quality, fixed-income investments for a given duration. The determination of the discount rate for these plans is based on expected future benefit payments for service to date together with the Mercer Pension Discount Curve - Above Mean Yield. The Mercer Pension Discount Curve - Above Mean Yield is constructed from the bonds in the Mercer Pension Discount Curve that have a yield higher than the regression mean yield curve. The Mercer Pension Discount Curve consists of spot ( i.e. , zero coupon) interest rates at one-half-year increments for each of the next 30 years and is developed based on pricing and yield information for high-quality corporate bonds. Changes in the discount rate are reflected in FCX’s benefit obligation and, therefore, in future pension costs. SERP Plan. FCX has an unfunded Supplemental Executive Retirement Plan (SERP) for its chief executive officer. The SERP provides for retirement benefits payable in the form of a joint and survivor annuity, life annuity or an equivalent lump sum, which is determined on January 1 of the year in which the participant completed 25 years of credited service. The annuity will equal a percentage of the participant’s highest average compensation for any consecutive three-year period during the five years immediately preceding the completion of 25 years of credited service. The SERP benefit will be reduced by the value of all benefits from current and former retirement plans (qualified and nonqualified) sponsored by FCX, by FM Services Company, FCX’s wholly owned subsidiary, or by any predecessor employer (including FCX’s former parent company), except for benefits produced by accounts funded exclusively by deductions from the participant’s pay. PT-FI Plan. PT-FI has a defined benefit pension plan denominated in Indonesia rupiah covering substantially all of its Indonesia national employees. PT-FI funds the plan and invests the assets in accordance with Indonesia pension guidelines. The pension obligation was valued at an exchange rate of 13,832 rupiah to one U.S. dollar on December 31, 2019 , and 14,409 rupiah to one U.S. dollar on December 31, 2018 . Indonesia labor laws require that companies provide a minimum level of benefits to employees upon employment termination based on the reason for termination and the employee’s years of service. PT-FI’s pension benefit obligation includes benefits determined in accordance with this law. PT-FI’s expected rate of return on plan assets is evaluated at least annually, taking into consideration its long-range estimated return for the plan based on the asset mix. Based on these factors, PT-FI expects its pension assets will earn an average of 7.75 percent per annum beginning January 1, 2020. The discount rate assumption for PT-FI’s plan is based on the Mercer Indonesia zero coupon bond yield curve derived from the Indonesia Government Security Yield Curve. Changes in the discount rate are reflected in PT-FI’s benefit obligation and, therefore, in future pension costs. Plan Information. FCX uses a measurement date of December 31 for its plans. Information for those plans where the projected benefit obligations and the accumulated benefit obligations exceed the fair value of plan assets follows: December 31, 2019 2018 Projected benefit obligation $ 2,522 $ 2,177 Accumulated benefit obligation 2,361 2,048 Fair value of plan assets 1,615 1,373 Information on the FCX (FMC and SERP plans) and PT-FI plans as of December 31 follows: FCX PT-FI 2019 2018 2019 2018 Change in benefit obligation: Benefit obligation at beginning of year $ 2,230 $ 2,343 $ 220 $ 240 Service cost 42 44 12 13 Interest cost 95 84 17 14 Actuarial losses (gains) 328 (124 ) (27 ) (19 ) Plan amendments — 4 — — Foreign exchange losses (gains) 1 (1 ) 8 (15 ) Benefits and administrative expenses paid (120 ) (120 ) (13 ) (13 ) Benefit obligation at end of year 2,576 2,230 217 220 Change in plan assets: Fair value of plan assets at beginning of year 1,433 1,588 238 269 Actual return on plan assets 289 (104 ) 19 (5 ) Employer contributions a 74 70 — 4 Foreign exchange gains (losses) 1 (1 ) 10 (17 ) Benefits and administrative expenses paid (120 ) (120 ) (13 ) (13 ) Fair value of plan assets at end of year 1,677 1,433 254 238 Funded status $ (899 ) $ (797 ) $ 37 $ 18 Accumulated benefit obligation $ 2,414 $ 2,101 $ 175 $ 181 Weighted-average assumptions used to determine benefit obligations: Discount rate 3.40 % 4.40 % 7.25 % 8.25 % Rate of compensation increase 3.25 % 3.25 % 4.00 % 4.00 % Balance sheet classification of funded status: Other assets $ 8 $ 7 $ 37 $ 18 Accounts payable and accrued liabilities (4 ) (4 ) — — Other liabilities (903 ) (800 ) — — Total $ (899 ) $ (797 ) $ 37 $ 18 a. Employer contributions for 2020 are expected to approximate $132 million for the FCX plans and $2 million for the PT-FI plan (based on a December 31, 2019 , exchange rate of 13,832 Indonesia rupiah to one U.S. dollar). During 2019, the actuarial loss of $328 million for the FCX pension plans primarily resulted from the decrease in the discount rate from 4.40 percent to 3.40 percent . During 2018, the actuarial gain of $124 million for the FCX pension plans primarily resulted from the increase in the discount rate from 3.70 percent to 4.40 percent ( $205 million ), partially offset by new census data incorporated into the valuations ( $33 million ) and updated demographic assumptions ( $49 million ) mainly resulting from mortality updates. During 2019, the actuarial gain of $27 million for the PT-FI pension plan primarily resulted from a change in estimated plan administration costs, partially offset by a decrease in the discount rate from 8.25 percent to 7.25 percent . During 2018, the actuarial gain of $19 million for the PT-FI pension plan primarily resulted from the increase in the discount rate from 6.75 percent to 8.25 percent and demographic experience gains. The weighted-average assumptions used to determine net periodic benefit cost and the components of net periodic benefit cost for FCX’s pension plans for the years ended December 31 follow: 2019 2018 2017 Weighted-average assumptions: a Discount rate 4.40 % 3.70 % 4.40 % Expected return on plan assets 6.50 % 6.50 % 7.00 % Rate of compensation increase 3.25 % 3.25 % 3.25 % Service cost $ 42 $ 44 $ 44 Interest cost 95 84 91 Expected return on plan assets (90 ) (101 ) (93 ) Amortization of net actuarial losses 48 49 49 Net periodic benefit cost $ 95 $ 76 $ 91 a. The assumptions shown relate only to the FMC plans. The weighted-average assumptions used to determine net periodic benefit cost and the components of net periodic benefit cost for PT-FI’s pension plan for the years ended December 31 follow: 2019 2018 2017 Weighted-average assumptions: Discount rate 8.25 % 6.75 % 8.25 % Expected return on plan assets 8.25 % 6.75 % 7.75 % Rate of compensation increase 4.00 % 4.00 % 8.00 % Service cost $ 12 $ 13 $ 20 Interest cost 17 14 23 Expected return on plan assets (17 ) (19 ) (21 ) Amortization of prior service cost 1 2 2 Amortization of net actuarial gains (1 ) (1 ) — Curtailment loss — — 4 Net periodic benefit cost $ 12 $ 9 $ 28 The service cost component of net periodic benefit cost is included in operating income, and the other components are included in other (expense) income, net in the consolidated statements of operations. Included in accumulated other comprehensive loss are the following amounts that have not been recognized in net periodic pension cost as of December 31: 2019 2018 Before Taxes After Taxes and Noncontrolling Interests Before Taxes After Taxes and Noncontrolling Interests Net actuarial losses $ 710 $ 604 $ 659 $ 539 Prior service costs 11 6 13 8 $ 721 $ 610 $ 672 $ 547 Plan assets are classified within a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1), then to significant observable inputs (Level 2) and the lowest priority to significant unobservable inputs (Level 3). A summary of the fair value for pension plan assets, including those measured at net asset value (NAV) as a practical expedient, associated with the FCX plans follows: Fair Value at December 31, 2019 Total NAV Level 1 Level 2 Level 3 Commingled/collective funds: Global equity $ 425 $ 425 $ — $ — $ — Fixed income securities 239 239 — — — U.S. small-cap equity 67 67 — — — Real estate property 58 58 — — — International small-cap equity 55 55 — — — U.S. real estate securities 53 53 — — — Short-term investments 16 16 — — — Fixed income: Government bonds 279 — — 279 — Corporate bonds 256 — — 256 — Global large-cap equity securities 107 — 107 — — Private equity investments 11 11 — — — Other investments 64 — 14 50 — Total investments 1,630 $ 924 $ 121 $ 585 $ — Cash and receivables 86 Payables (39 ) Total pension plan net assets $ 1,677 Fair Value at December 31, 2018 Total NAV Level 1 Level 2 Level 3 Commingled/collective funds: Global equity $ 291 $ 291 $ — $ — $ — Fixed income securities 144 144 — — — Global fixed income securities 108 108 — — — Emerging markets equity 71 71 — — — Real estate property 55 55 — — — U.S. small-cap equity 54 54 — — — International small-cap equity 47 47 — — — U.S. real estate securities 41 41 — — — Short-term investments 15 15 — — — Fixed income: Government bonds 224 — — 224 — Corporate bonds 211 — — 211 — Global large-cap equity securities 94 — 94 — — Private equity investments 15 15 — — — Other investments 61 — 16 45 — Total investments 1,431 $ 841 $ 110 $ 480 $ — Cash and receivables 32 Payables (30 ) Total pension plan net assets $ 1,433 Following is a description of the pension plan asset categories and the valuation techniques used to measure fair value. There have been no changes to the techniques used to measure fair value. Commingled/collective funds are managed by several fund managers and are valued at the NAV per unit of the fund. For most of these funds, the majority of the underlying assets are actively traded securities. These funds (except the real estate property fund) require up to a 15-calendar-day notice for redemptions. The real estate property fund is valued at NAV using information from independent appraisal firms, who have knowledge and expertise about the current market values of real property in the same vicinity as the investments. Redemptions of the real estate property fund are allowed once per quarter, subject to available cash. Fixed income investments include government and corporate bonds held directly by the Master Trust. Fixed income securities are valued using a bid-evaluation price or a mid-evaluation price and, as such, are classified within Level 2 of the fair value hierarchy. A bid-evaluation price is an estimated price at which a dealer would pay for a security. A mid-evaluation price is the average of the estimated price at which a dealer would sell a security and the estimated price at which a dealer would pay for a security. These evaluations are based on quoted prices, if available, or models that use observable inputs. Common stocks included in global large-cap equity securities and preferred stocks included in other investments are valued at the closing price reported on the active market on which the individual securities are traded and, as such, are classified within Level 1 of the fair value hierarchy. Private equity investments are valued at NAV using information from general partners and have inherent restrictions on redemptions that may affect the ability to sell the investments at their NAV in the near term. A summary of the fair value hierarchy for pension plan assets associated with the PT-FI plan follows: Fair Value at December 31, 2019 Total Level 1 Level 2 Level 3 Government bonds $ 93 $ 93 $ — $ — Common stocks 80 80 — — Mutual funds 17 17 — — Total investments 190 $ 190 $ — $ — Cash and receivables a 65 Payables (1 ) Total pension plan net assets $ 254 Fair Value at December 31, 2018 Total Level 1 Level 2 Level 3 Government bonds $ 72 $ 72 $ — $ — Common stocks 72 72 — — Mutual funds 20 20 — — Total investments 164 $ 164 $ — $ — Cash and receivables a 75 Payables (1 ) Total pension plan net assets $ 238 a. Cash consists primarily of short-term time deposits. Following is a description of the valuation techniques used for pension plan assets measured at fair value associated with the PT-FI plan. There have been no changes to the techniques used to measure fair value. Government bonds, common stocks and mutual funds are valued at the closing price reported on the active market on which the individual securities are traded and, as such, are classified within Level 1 of the fair value hierarchy. The techniques described above may produce a fair value calculation that may not be indicative of NRV or reflective of future fair values. Furthermore, while FCX believes its valuation techniques are appropriate and consistent with those used by other market participants, the use of different techniques or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. The expected benefit payments for FCX’s and PT-FI’s pension plans follow: FCX PT-FI a 2020 $ 120 $ 12 2021 166 19 2022 127 22 2023 129 30 2024 131 32 2025 through 2029 679 155 a. Based on a December 31, 2019 , exchange rate of 13,832 Indonesia rupiah to one U.S. dollar. Postretirement and Other Benefits. FCX also provides postretirement medical and life insurance benefits for certain U.S. employees and, in some cases, employees of certain international subsidiaries. These postretirement benefits vary among plans, and many plans require contributions from retirees. The expected cost of providing such postretirement benefits is accrued during the years employees render service. The benefit obligation (funded status) for the postretirement medical and life insurance benefit plans consisted of a current portion of $13 million (included in accounts payable and accrued liabilities) and a long-term portion of $112 million (included in other liabilities) at December 31, 2019 , and a current portion of $13 million and a long-term portion of $115 million at December 31, 2018 . The discount rate used to determine the benefit obligation for these plans, which was determined on the same basis as FCX’s pension plans, was 3.00 percent at December 31, 2019 , and 4.20 percent at December 31, 2018 . Expected benefit payments for these plans total $13 million for 2020 , $12 million for 2021 , $11 million for 2022 , $11 million for 2023 , $10 million for 2024 and $42 million for 2025 through 2029 . The net periodic benefit cost charged to operations for FCX’s postretirement benefits (primarily for interest costs) totaled $4 million in 2019 and $5 million in each of 2018 and 2017 . The discount rate used to determine net periodic benefit cost and the components of net periodic benefit cost for FCX’s postretirement benefits was 4.20 percent in 2019 , 3.50 percent in 2018 and 3.80 percent in 2017 . The medical-care trend rates assumed the first year trend rate was 7.75 percent at December 31, 2019 , which declines over the next 15 years with an ultimate trend rate of 4.25 percent . FCX has a number of postemployment plans covering severance, long-term disability income, continuation of health and life insurance coverage for disabled employees or other welfare benefits. The accumulated postemployment benefit obligation consisted of a current portion of $7 million (included in accounts payable and accrued liabilities) and a long-term portion of $44 million (included in other liabilities) at December 31, 2019 , and a current portion of $6 million and a long-term portion of $39 million at December 31, 2018 . FCX also sponsors savings plans for the majority of its U.S. employees. The plans allow employees to contribute a portion of their pre-tax income in accordance with specified guidelines. These savings plans are principally qualified 401(k) plans for all U.S. salaried and non-bargained hourly employees. In these plans, participants exercise control and direct the investment of their contributions and account balances among various investment options. FCX contributes to these plans at varying rates and matches a percentage of employee pre-tax deferral contributions up to certain limits, which vary by plan. For employees whose eligible compensation exceeds certain levels, FCX provides an unfunded defined contribution plan, which had a liability balance of $46 million at December 31, 2019 , and $45 million at December 31, 2018 , all of which was included in other liabilities. The costs charged to operations for employee savings plans totaled $85 million in 2019 , $75 million in 2018 and $65 million in 2017 . FCX has other employee benefit plans, certain of which are related to FCX’s financial results, which are recognized in operating costs. Restructuring Charges. As a result of the first-quarter 2017 regulatory restrictions and uncertainties regarding long-term investment stability, PT-FI took actions to adjust its cost structure, reduce its workforce and slow investments in its underground development projects and new smelter. These actions included workforce reductions through furlough and voluntary retirement programs. Following the furlough and voluntary retirement programs, a significant number of employees and contractors elected to participate in an illegal strike action beginning in May 2017, and were subsequently deemed to have voluntarily resigned under the existing Indonesia laws and regulations. As a result, PT-FI recorded charges in 2017 to production costs of $120 million , and selling, general and administrative costs of $5 million for employee severance and related costs, and a pension curtailment loss of $4 million in production costs.
Employee Benefits	OTHER LIABILITIES, INCLUDING EMPLOYEE BENEFITS The components of other liabilities follow: December 31, 2019 2018 Pension, postretirement, postemployment and other employment benefits a $ 1,318 $ 1,174 Cerro Verde royalty dispute 502 631 Provision for tax positions 255 230 Leases b 204 — Other 212 195 Total other liabilities $ 2,491 $ 2,230 a. Refer to Note 7 for current portion. b. Refer to Note 13 for further discussion. Pension Plans. Following is a discussion of FCX’s pension plans. FMC Plans. FMC has U.S. trusteed, non-contributory pension plans covering substantially all of its U.S. employees and some employees of its international subsidiaries hired before 2007. The applicable FMC plan design determines the manner in which benefits are calculated for any particular group of employees. Benefits are calculated based on final average monthly compensation and years of service or based on a fixed amount for each year of service. Non-bargained FMC employees hired after December 31, 2006, are not eligible to participate in the FMC U.S. pension plan. FCX’s funding policy for these plans provides that contributions to pension trusts shall be at least equal to the minimum funding requirements of the Employee Retirement Income Security Act of 1974, as amended, for U.S. plans; or, in the case of international plans, the minimum legal requirements that may be applicable in the various countries. Additional contributions also may be made from time to time. FCX’s policy for determining asset-mix targets for the FMC plan assets held in a master trust (Master Trust) includes the periodic development of asset allocation studies and review of the liabilities to determine expected long-term rates of return and expected risk for various investment portfolios. FCX’s retirement plan administration and investment committee considers these studies in the formal establishment of asset-mix targets defined in the investment policy. FCX’s investment objective emphasizes diversification through both the allocation of the Master Trust assets among various asset classes and the selection of investment managers whose various styles are fundamentally complementary to one another and serve to achieve satisfactory rates of return. Diversification, by asset class and by investment manager, is FCX’s principal means of reducing volatility and exercising prudent investment judgment. FCX’s present target asset allocation approximates 42 percent equity investments (primarily global equities), 50 percent fixed income (primarily long-term treasury STRIPS or “separate trading or registered interest and principal securities”; long-term U.S. treasury/agency bonds; global fixed income securities; long-term, high-credit quality corporate bonds; high-yield and emerging markets fixed income securities; and fixed income debt securities) and 8 percent alternative investments (private real estate, real estate investment trusts and private equity). The expected rate of return on plan assets is evaluated at least annually, taking into consideration asset allocation, historical and expected future performance on the types of assets held in the Master Trust, and the current economic environment. Based on these factors, FCX expects the pension assets will earn an average of 6.25 percent per annum beginning January 1, 2020, which was based on the target asset allocation and long-term capital market return expectations. For estimation purposes, FCX assumes the long-term asset mix for these plans generally will be consistent with the current mix. Changes in the asset mix could impact the amount of recorded pension costs, the funded status of the plans and the need for future cash contributions. A lower-than-expected return on assets also would decrease plan assets and increase the amount of recorded pension costs in future years. When calculating the expected return on plan assets, FCX uses the market value of assets. Among the assumptions used to estimate the pension benefit obligation is a discount rate used to calculate the present value of expected future benefit payments for service to date. The discount rate assumption for FCX’s U.S. plans is designed to reflect yields on high-quality, fixed-income investments for a given duration. The determination of the discount rate for these plans is based on expected future benefit payments for service to date together with the Mercer Pension Discount Curve - Above Mean Yield. The Mercer Pension Discount Curve - Above Mean Yield is constructed from the bonds in the Mercer Pension Discount Curve that have a yield higher than the regression mean yield curve. The Mercer Pension Discount Curve consists of spot ( i.e. , zero coupon) interest rates at one-half-year increments for each of the next 30 years and is developed based on pricing and yield information for high-quality corporate bonds. Changes in the discount rate are reflected in FCX’s benefit obligation and, therefore, in future pension costs. SERP Plan. FCX has an unfunded Supplemental Executive Retirement Plan (SERP) for its chief executive officer. The SERP provides for retirement benefits payable in the form of a joint and survivor annuity, life annuity or an equivalent lump sum, which is determined on January 1 of the year in which the participant completed 25 years of credited service. The annuity will equal a percentage of the participant’s highest average compensation for any consecutive three-year period during the five years immediately preceding the completion of 25 years of credited service. The SERP benefit will be reduced by the value of all benefits from current and former retirement plans (qualified and nonqualified) sponsored by FCX, by FM Services Company, FCX’s wholly owned subsidiary, or by any predecessor employer (including FCX’s former parent company), except for benefits produced by accounts funded exclusively by deductions from the participant’s pay. PT-FI Plan. PT-FI has a defined benefit pension plan denominated in Indonesia rupiah covering substantially all of its Indonesia national employees. PT-FI funds the plan and invests the assets in accordance with Indonesia pension guidelines. The pension obligation was valued at an exchange rate of 13,832 rupiah to one U.S. dollar on December 31, 2019 , and 14,409 rupiah to one U.S. dollar on December 31, 2018 . Indonesia labor laws require that companies provide a minimum level of benefits to employees upon employment termination based on the reason for termination and the employee’s years of service. PT-FI’s pension benefit obligation includes benefits determined in accordance with this law. PT-FI’s expected rate of return on plan assets is evaluated at least annually, taking into consideration its long-range estimated return for the plan based on the asset mix. Based on these factors, PT-FI expects its pension assets will earn an average of 7.75 percent per annum beginning January 1, 2020. The discount rate assumption for PT-FI’s plan is based on the Mercer Indonesia zero coupon bond yield curve derived from the Indonesia Government Security Yield Curve. Changes in the discount rate are reflected in PT-FI’s benefit obligation and, therefore, in future pension costs. Plan Information. FCX uses a measurement date of December 31 for its plans. Information for those plans where the projected benefit obligations and the accumulated benefit obligations exceed the fair value of plan assets follows: December 31, 2019 2018 Projected benefit obligation $ 2,522 $ 2,177 Accumulated benefit obligation 2,361 2,048 Fair value of plan assets 1,615 1,373 Information on the FCX (FMC and SERP plans) and PT-FI plans as of December 31 follows: FCX PT-FI 2019 2018 2019 2018 Change in benefit obligation: Benefit obligation at beginning of year $ 2,230 $ 2,343 $ 220 $ 240 Service cost 42 44 12 13 Interest cost 95 84 17 14 Actuarial losses (gains) 328 (124 ) (27 ) (19 ) Plan amendments — 4 — — Foreign exchange losses (gains) 1 (1 ) 8 (15 ) Benefits and administrative expenses paid (120 ) (120 ) (13 ) (13 ) Benefit obligation at end of year 2,576 2,230 217 220 Change in plan assets: Fair value of plan assets at beginning of year 1,433 1,588 238 269 Actual return on plan assets 289 (104 ) 19 (5 ) Employer contributions a 74 70 — 4 Foreign exchange gains (losses) 1 (1 ) 10 (17 ) Benefits and administrative expenses paid (120 ) (120 ) (13 ) (13 ) Fair value of plan assets at end of year 1,677 1,433 254 238 Funded status $ (899 ) $ (797 ) $ 37 $ 18 Accumulated benefit obligation $ 2,414 $ 2,101 $ 175 $ 181 Weighted-average assumptions used to determine benefit obligations: Discount rate 3.40 % 4.40 % 7.25 % 8.25 % Rate of compensation increase 3.25 % 3.25 % 4.00 % 4.00 % Balance sheet classification of funded status: Other assets $ 8 $ 7 $ 37 $ 18 Accounts payable and accrued liabilities (4 ) (4 ) — — Other liabilities (903 ) (800 ) — — Total $ (899 ) $ (797 ) $ 37 $ 18 a. Employer contributions for 2020 are expected to approximate $132 million for the FCX plans and $2 million for the PT-FI plan (based on a December 31, 2019 , exchange rate of 13,832 Indonesia rupiah to one U.S. dollar). During 2019, the actuarial loss of $328 million for the FCX pension plans primarily resulted from the decrease in the discount rate from 4.40 percent to 3.40 percent . During 2018, the actuarial gain of $124 million for the FCX pension plans primarily resulted from the increase in the discount rate from 3.70 percent to 4.40 percent ( $205 million ), partially offset by new census data incorporated into the valuations ( $33 million ) and updated demographic assumptions ( $49 million ) mainly resulting from mortality updates. During 2019, the actuarial gain of $27 million for the PT-FI pension plan primarily resulted from a change in estimated plan administration costs, partially offset by a decrease in the discount rate from 8.25 percent to 7.25 percent . During 2018, the actuarial gain of $19 million for the PT-FI pension plan primarily resulted from the increase in the discount rate from 6.75 percent to 8.25 percent and demographic experience gains. The weighted-average assumptions used to determine net periodic benefit cost and the components of net periodic benefit cost for FCX’s pension plans for the years ended December 31 follow: 2019 2018 2017 Weighted-average assumptions: a Discount rate 4.40 % 3.70 % 4.40 % Expected return on plan assets 6.50 % 6.50 % 7.00 % Rate of compensation increase 3.25 % 3.25 % 3.25 % Service cost $ 42 $ 44 $ 44 Interest cost 95 84 91 Expected return on plan assets (90 ) (101 ) (93 ) Amortization of net actuarial losses 48 49 49 Net periodic benefit cost $ 95 $ 76 $ 91 a. The assumptions shown relate only to the FMC plans. The weighted-average assumptions used to determine net periodic benefit cost and the components of net periodic benefit cost for PT-FI’s pension plan for the years ended December 31 follow: 2019 2018 2017 Weighted-average assumptions: Discount rate 8.25 % 6.75 % 8.25 % Expected return on plan assets 8.25 % 6.75 % 7.75 % Rate of compensation increase 4.00 % 4.00 % 8.00 % Service cost $ 12 $ 13 $ 20 Interest cost 17 14 23 Expected return on plan assets (17 ) (19 ) (21 ) Amortization of prior service cost 1 2 2 Amortization of net actuarial gains (1 ) (1 ) — Curtailment loss — — 4 Net periodic benefit cost $ 12 $ 9 $ 28 The service cost component of net periodic benefit cost is included in operating income, and the other components are included in other (expense) income, net in the consolidated statements of operations. Included in accumulated other comprehensive loss are the following amounts that have not been recognized in net periodic pension cost as of December 31: 2019 2018 Before Taxes After Taxes and Noncontrolling Interests Before Taxes After Taxes and Noncontrolling Interests Net actuarial losses $ 710 $ 604 $ 659 $ 539 Prior service costs 11 6 13 8 $ 721 $ 610 $ 672 $ 547 Plan assets are classified within a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1), then to significant observable inputs (Level 2) and the lowest priority to significant unobservable inputs (Level 3). A summary of the fair value for pension plan assets, including those measured at net asset value (NAV) as a practical expedient, associated with the FCX plans follows: Fair Value at December 31, 2019 Total NAV Level 1 Level 2 Level 3 Commingled/collective funds: Global equity $ 425 $ 425 $ — $ — $ — Fixed income securities 239 239 — — — U.S. small-cap equity 67 67 — — — Real estate property 58 58 — — — International small-cap equity 55 55 — — — U.S. real estate securities 53 53 — — — Short-term investments 16 16 — — — Fixed income: Government bonds 279 — — 279 — Corporate bonds 256 — — 256 — Global large-cap equity securities 107 — 107 — — Private equity investments 11 11 — — — Other investments 64 — 14 50 — Total investments 1,630 $ 924 $ 121 $ 585 $ — Cash and receivables 86 Payables (39 ) Total pension plan net assets $ 1,677 Fair Value at December 31, 2018 Total NAV Level 1 Level 2 Level 3 Commingled/collective funds: Global equity $ 291 $ 291 $ — $ — $ — Fixed income securities 144 144 — — — Global fixed income securities 108 108 — — — Emerging markets equity 71 71 — — — Real estate property 55 55 — — — U.S. small-cap equity 54 54 — — — International small-cap equity 47 47 — — — U.S. real estate securities 41 41 — — — Short-term investments 15 15 — — — Fixed income: Government bonds 224 — — 224 — Corporate bonds 211 — — 211 — Global large-cap equity securities 94 — 94 — — Private equity investments 15 15 — — — Other investments 61 — 16 45 — Total investments 1,431 $ 841 $ 110 $ 480 $ — Cash and receivables 32 Payables (30 ) Total pension plan net assets $ 1,433 Following is a description of the pension plan asset categories and the valuation techniques used to measure fair value. There have been no changes to the techniques used to measure fair value. Commingled/collective funds are managed by several fund managers and are valued at the NAV per unit of the fund. For most of these funds, the majority of the underlying assets are actively traded securities. These funds (except the real estate property fund) require up to a 15-calendar-day notice for redemptions. The real estate property fund is valued at NAV using information from independent appraisal firms, who have knowledge and expertise about the current market values of real property in the same vicinity as the investments. Redemptions of the real estate property fund are allowed once per quarter, subject to available cash. Fixed income investments include government and corporate bonds held directly by the Master Trust. Fixed income securities are valued using a bid-evaluation price or a mid-evaluation price and, as such, are classified within Level 2 of the fair value hierarchy. A bid-evaluation price is an estimated price at which a dealer would pay for a security. A mid-evaluation price is the average of the estimated price at which a dealer would sell a security and the estimated price at which a dealer would pay for a security. These evaluations are based on quoted prices, if available, or models that use observable inputs. Common stocks included in global large-cap equity securities and preferred stocks included in other investments are valued at the closing price reported on the active market on which the individual securities are traded and, as such, are classified within Level 1 of the fair value hierarchy. Private equity investments are valued at NAV using information from general partners and have inherent restrictions on redemptions that may affect the ability to sell the investments at their NAV in the near term. A summary of the fair value hierarchy for pension plan assets associated with the PT-FI plan follows: Fair Value at December 31, 2019 Total Level 1 Level 2 Level 3 Government bonds $ 93 $ 93 $ — $ — Common stocks 80 80 — — Mutual funds 17 17 — — Total investments 190 $ 190 $ — $ — Cash and receivables a 65 Payables (1 ) Total pension plan net assets $ 254 Fair Value at December 31, 2018 Total Level 1 Level 2 Level 3 Government bonds $ 72 $ 72 $ — $ — Common stocks 72 72 — — Mutual funds 20 20 — — Total investments 164 $ 164 $ — $ — Cash and receivables a 75 Payables (1 ) Total pension plan net assets $ 238 a. Cash consists primarily of short-term time deposits. Following is a description of the valuation techniques used for pension plan assets measured at fair value associated with the PT-FI plan. There have been no changes to the techniques used to measure fair value. Government bonds, common stocks and mutual funds are valued at the closing price reported on the active market on which the individual securities are traded and, as such, are classified within Level 1 of the fair value hierarchy. The techniques described above may produce a fair value calculation that may not be indicative of NRV or reflective of future fair values. Furthermore, while FCX believes its valuation techniques are appropriate and consistent with those used by other market participants, the use of different techniques or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. The expected benefit payments for FCX’s and PT-FI’s pension plans follow: FCX PT-FI a 2020 $ 120 $ 12 2021 166 19 2022 127 22 2023 129 30 2024 131 32 2025 through 2029 679 155 a. Based on a December 31, 2019 , exchange rate of 13,832 Indonesia rupiah to one U.S. dollar. Postretirement and Other Benefits. FCX also provides postretirement medical and life insurance benefits for certain U.S. employees and, in some cases, employees of certain international subsidiaries. These postretirement benefits vary among plans, and many plans require contributions from retirees. The expected cost of providing such postretirement benefits is accrued during the years employees render service. The benefit obligation (funded status) for the postretirement medical and life insurance benefit plans consisted of a current portion of $13 million (included in accounts payable and accrued liabilities) and a long-term portion of $112 million (included in other liabilities) at December 31, 2019 , and a current portion of $13 million and a long-term portion of $115 million at December 31, 2018 . The discount rate used to determine the benefit obligation for these plans, which was determined on the same basis as FCX’s pension plans, was 3.00 percent at December 31, 2019 , and 4.20 percent at December 31, 2018 . Expected benefit payments for these plans total $13 million for 2020 , $12 million for 2021 , $11 million for 2022 , $11 million for 2023 , $10 million for 2024 and $42 million for 2025 through 2029 . The net periodic benefit cost charged to operations for FCX’s postretirement benefits (primarily for interest costs) totaled $4 million in 2019 and $5 million in each of 2018 and 2017 . The discount rate used to determine net periodic benefit cost and the components of net periodic benefit cost for FCX’s postretirement benefits was 4.20 percent in 2019 , 3.50 percent in 2018 and 3.80 percent in 2017 . The medical-care trend rates assumed the first year trend rate was 7.75 percent at December 31, 2019 , which declines over the next 15 years with an ultimate trend rate of 4.25 percent . FCX has a number of postemployment plans covering severance, long-term disability income, continuation of health and life insurance coverage for disabled employees or other welfare benefits. The accumulated postemployment benefit obligation consisted of a current portion of $7 million (included in accounts payable and accrued liabilities) and a long-term portion of $44 million (included in other liabilities) at December 31, 2019 , and a current portion of $6 million and a long-term portion of $39 million at December 31, 2018 . FCX also sponsors savings plans for the majority of its U.S. employees. The plans allow employees to contribute a portion of their pre-tax income in accordance with specified guidelines. These savings plans are principally qualified 401(k) plans for all U.S. salaried and non-bargained hourly employees. In these plans, participants exercise control and direct the investment of their contributions and account balances among various investment options. FCX contributes to these plans at varying rates and matches a percentage of employee pre-tax deferral contributions up to certain limits, which vary by plan. For employees whose eligible compensation exceeds certain levels, FCX provides an unfunded defined contribution plan, which had a liability balance of $46 million at December 31, 2019 , and $45 million at December 31, 2018 , all of which was included in other liabilities. The costs charged to operations for employee savings plans totaled $85 million in 2019 , $75 million in 2018 and $65 million in 2017 . FCX has other employee benefit plans, certain of which are related to FCX’s financial results, which are recognized in operating costs. Restructuring Charges. As a result of the first-quarter 2017 regulatory restrictions and uncertainties regarding long-term investment stability, PT-FI took actions to adjust its cost structure, reduce its workforce and slow investments in its underground development projects and new smelter. These actions included workforce reductions through furlough and voluntary retirement programs. Following the furlough and voluntary retirement programs, a significant number of employees and contractors elected to participate in an illegal strike action beginning in May 2017, and were subsequently deemed to have voluntarily resigned under the existing Indonesia laws and regulations. As a result, PT-FI recorded charges in 2017 to production costs of $120 million , and selling, general and administrative costs of $5 million for employee severance and related costs, and a pension curtailment loss of $4 million in production costs.

STOCKHOLDERS' EQUITY AND STOCK-

STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION (Notes)	12 Months Ended
	Dec. 31, 2019
Stockholders' Equity Note [Abstract]
Stockholders' Equity and Stock-Based Compensation	STOCKHOLDERS’ EQUITY AND STOCK-BASED COMPENSATION FCX’s authorized shares of capital stock total 3.05 billion shares, consisting of 3.0 billion shares of common stock and 50 million shares of preferred stock. Common Stock. In February 2018, FCX’s Board of Directors (the Board) reinstated a cash dividend on FCX’s common stock at an annual rate of $0.20 per share. On December 18, 2019, FCX declared a quarterly cash dividend of $0.05 per share, which was paid on February 3, 2020, to common stockholders of record as of January 15, 2020. The declaration of dividends is at the discretion of the Board and will depend on FCX’s financial results, cash requirements, future prospects and other factors deemed relevant by the Board. Accumulated Other Comprehensive Loss. A summary of changes in the balances of each component of accumulated other comprehensive loss, net of tax, follows: Defined Benefit Plans Unrealized Losses on Securities Translation Adjustment Total Balance at January 1, 2017 $ (554 ) $ (4 ) $ 10 $ (548 ) Amounts arising during the period a,b 7 1 — 8 Amounts reclassified c 53 — — 53 Balance at December 31, 2017 (494 ) (3 ) 10 (487 ) Adoption of accounting standard for reclassification of income taxes (79 ) — — (79 ) Amounts arising during the period a,b (84 ) — — (84 ) Amounts reclassified c 48 3 — 51 Sale of interest in PT-FI (refer to Note 2) (6 ) — — (6 ) Balance at December 31, 2018 (615 ) — 10 (605 ) Amounts arising during the period a,b (118 ) — — (118 ) Amounts reclassified c 47 — — 47 Balance at December 31, 2019 $ (686 ) $ — $ 10 $ (676 ) a. Includes net actuarial gains (losses), net of noncontrolling interest, totaling $52 million for 2017 , $(87) million for 2018 and $(111) million for 2019 . b. Includes tax provision (benefit) totaling $45 million for 2017 , $4 million for 2018 and $(8) million for 2019 . c. Includes amortization primarily related to actuarial losses, net of taxes of $5 million for 2017 , and none for 2018 and 2019 . Stock Award Plans. FCX currently has awards outstanding under various stock-based compensation plans. The stockholder-approved 2016 Stock Incentive Plan (the 2016 Plan) provides for the issuance of stock options, stock appreciation rights (SARs), restricted stock, RSUs, PSUs and other stock-based awards for up to 72 million common shares. As of December 31, 2019 , 46.9 million shares were available for grant under the 2016 Plan, and no shares were available under other plans. Stock-Based Compensation Cost. Compensation cost charged against earnings for stock-based awards for the years ended December 31 follows: 2019 2018 2017 Selling, general and administrative expenses $ 48 $ 62 $ 55 Production and delivery 15 12 16 Total stock-based compensation 63 74 71 Tax benefit and noncontrolling interests’ share a (4 ) (4 ) (4 ) Impact on net (loss) income $ 59 $ 70 $ 67 a. Charges in the U.S. are not expected to generate a future tax benefit. Stock Options. Stock options granted under the plans generally expire 10 years after the date of grant. Stock options granted prior to 2018 generally vest in 25 percent annual increments; beginning in 2018, awards granted vest in 33 percent annual increments beginning one year from the date of grant. The award agreements provide that participants will receive the following year’s vesting upon retirement. Therefore, on the date of grant, FCX accelerates one year of amortization for retirement-eligible employees. Stock options provide for accelerated vesting only upon certain qualifying terminations of employment within one year following a change of control. A summary of stock options outstanding as of December 31, 2019 , and activity during the year ended December 31, 2019 , follows: Number of Options Weighted- Average Exercise Price Per Share Weighted- Average Remaining Contractual Term (years) Aggregate Intrinsic Value Balance at January 1 46,806,364 $ 27.40 Granted 6,425,500 11.88 Exercised (391,075 ) 4.72 Expired/Forfeited (4,528,736 ) 20.55 Balance at December 31 48,312,053 26.16 4.4 $ 60 Vested and exercisable at December 31 39,981,705 28.86 3.5 $ 51 The fair value of each stock option is estimated on the date of grant using the Black-Scholes-Merton option valuation model. Expected volatility is based on implied volatilities from traded options on FCX’s common stock and historical volatility of FCX’s common stock. FCX uses historical data to estimate future option exercises, forfeitures and expected life. When appropriate, separate groups of employees who have similar historical exercise behavior are considered separately for valuation purposes. The expected dividend rate is calculated using the annual dividend (excluding supplemental dividends) at the date of grant. The risk-free interest rate is based on Federal Reserve rates in effect for bonds with maturity dates equal to the expected term of the option. Information related to stock options during the years ended December 31 follows: 2019 2018 2017 Weighted-average assumptions used to value stock option awards: Expected volatility 47.8 % 46.1 % 51.4 % Expected life of options (in years) 6.10 5.92 5.70 Expected dividend rate 1.8 % 1.2 % — Risk-free interest rate 2.5 % 2.6 % 2.0 % Weighted-average grant-date fair value (per option) $ 4.87 $ 7.84 $ 7.61 Intrinsic value of options exercised $ 3 $ 7 $ 5 Fair value of options vested $ 26 $ 24 $ 25 As of December 31, 2019 , FCX had $23 million of total unrecognized compensation cost related to unvested stock options expected to be recognized over a weighted-average period of approximately 1.6 years. Stock-Settled PSUs and RSUs. Beginning in 2014, FCX’s executive officers received annual grants of PSUs that vest after three years . For the PSUs granted in 2017, the total grant date target shares related to the PSU grants were 0.6 million , of which the executive officers will earn (i) between 0 percent and 175 percent of the target shares based on achievement of financial and operating metrics and (ii) +/- 25 percent of the target shares based on FCX’s total shareholder return compared to the total shareholder return of a peer group. For the PSUs granted in 2018 and 2019, the total grant date target shares related to the PSU grants were 0.5 million for 2018 and 0.7 million for 2019, of which the executive officers will earn (i) between 0 percent and 200 percent of the target shares based on achievement of financial metrics and (ii) +/- 25 percent of the target shares based on FCX’s total shareholder return compared to the total shareholder return of a peer group. All of FCX’s executive officers are retirement eligible, and their PSU awards are therefore non-forfeitable. As such, FCX charges the estimated fair value of the PSU awards to expense at the time the financial and operational, if applicable, metrics are established. FCX grants RSUs that vest over a period of three years or at the end of three years to certain employees. Some award agreements allow for participants to receive the following year’s vesting upon retirement. Therefore, on the date of grant of these RSU awards, FCX accelerates one year of amortization for retirement-eligible employees. FCX also grants RSUs to its directors, which vest on the first anniversary of the date of grant. The fair value of the RSUs is amortized over the vesting period or the period until the director becomes retirement eligible, whichever is shorter. Upon a director’s retirement, all of their unvested RSUs immediately vest. For retirement-eligible directors, the fair value of RSUs is recognized in earnings on the date of grant. The award agreements provide for accelerated vesting of all RSUs held by directors if there is a change of control (as defined in the award agreements) and for accelerated vesting of all RSUs held by employees if they experience a qualifying termination within one year following a change of control. Dividends attributable to RSUs and PSUs accrue and are paid if the award vests. A summary of outstanding stock-settled RSUs and PSUs as of December 31, 2019 , and activity during the year ended December 31, 2019 , follows: Number of Awards Weighted-Average Grant-Date Fair Value Per Award Aggregate Intrinsic Value Balance at January 1 5,804,637 $ 19.97 Granted 2,135,224 11.13 Vested (2,191,743 ) 14.99 Forfeited (157,433 ) 17.58 Balance at December 31 5,590,685 18.61 $ 73 The total fair value of stock-settled RSUs and PSUs granted was $24 million during 2019 , $41 million during 2018 and $32 million during 2017 . The total intrinsic value of stock-settled RSUs vested was $26 million during 2019 , $14 million during 2018 and $45 million during 2017 . As of December 31, 2019 , FCX had $13 million of total unrecognized compensation cost related to unvested stock-settled RSUs expected to be recognized over approximately 1.7 years. Cash-Settled RSUs. Cash-settled RSUs are similar to stock-settled RSUs, but are settled in cash rather than in shares of common stock. These cash-settled RSUs generally vest over three years of service. Some award agreements allow for participants to receive the following year’s vesting upon retirement. Therefore, on the date of grant of these cash-settled RSU awards, FCX accelerates one year of amortization for retirement-eligible employees. The cash-settled RSUs are classified as liability awards, and the fair value of these awards is remeasured each reporting period until the vesting dates. The award agreements for cash-settled RSUs provide for accelerated vesting upon certain qualifying terminations of employment within one year following a change of control. Dividends attributable to cash-settled RSUs accrue and are paid if the award vests. A summary of outstanding cash-settled RSUs as of December 31, 2019 , and activity during the year ended December 31, 2019 , follows: Number of Awards Weighted-Average Grant-Date Fair Value Per Award Aggregate Intrinsic Value Balance at January 1 1,486,866 $ 15.61 Granted 819,000 11.88 Vested (698,817 ) 13.70 Forfeited (24,162 ) 14.43 Balance at December 31 1,582,887 14.54 $ 21 The total grant-date fair value of cash-settled RSUs was $10 million during 2019 , $16 million during 2018 and $10 million during 2017 . The intrinsic value of cash-settled RSUs vested was $8 million during 2019 , $11 million during 2018 and $24 million during 2017 . The accrued liability associated with cash-settled RSUs consisted of a current portion of $11 million (included in accounts payable and accrued liabilities) and a long-term portion of $3 million (included in other liabilities) at December 31, 2019 , and a current portion of $7 million and a long-term portion of $3 million at December 31, 2018 . Other Information. The following table includes amounts related to exercises of stock options and vesting of RSUs during the years ended December 31 : 2019 2018 2017 FCX shares tendered to pay the exercise price and/or the minimum required taxes a 670,508 195,322 1,041,937 Cash received from stock option exercises $ 2 $ 8 $ 5 Actual tax benefit realized for tax deductions $ 1 $ 3 $ 1 Amounts FCX paid for employee taxes $ 8 $ 4 $ 15 a. Under terms of the related plans, upon exercise of stock options, vesting of stock-settled RSUs and payout of PSUs, employees may tender FCX shares to pay the exercise price and/or the minimum required taxes.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES Geographic sources of (losses) income before income taxes and equity in affiliated companies’ net earnings for the years ended December 31 consist of the following: 2019 2018 2017 U.S. $ (287 ) $ 390 $ 20 Foreign 593 3,502 2,882 Total $ 306 $ 3,892 $ 2,902 Income taxes are provided on the earnings of FCX’s material foreign subsidiaries under the assumption that these earnings will be distributed. FCX has not provided deferred income taxes for other differences between the book and tax carrying amounts of its investments in material foreign subsidiaries as FCX considers its ownership positions to be permanent in duration, and quantification of the related deferred tax liability is not practicable. FCX’s (provision for) benefit from income taxes for the years ended December 31 consist of the following: 2019 2018 2017 Current income taxes: Federal $ (23 ) a,b $ 46 a,c $ (3 ) State 3 1 (10 ) Foreign (462 ) (1,445 ) c (1,426 ) Total current (482 ) (1,398 ) (1,439 ) Deferred income taxes: Federal 48 (106 ) 64 State 8 (8 ) 10 Foreign (101 ) (102 ) 89 Total deferred (45 ) (216 ) 163 Adjustments 12 504 d 393 e Operating loss carryforwards 5 119 — Provision for income taxes $ (510 ) $ (991 ) $ (883 ) a. As a result of the 2017 Tax Cuts and Jobs Act (the Act) guidance regarding a transition tax issued in 2018, FCX recognized a $29 million tax charge in 2018. Additional guidance released in 2019 resulted in a $29 million tax credit in 2019. b. Includes a tax charge of $53 million associated with the sale of FCX’s interest in the lower zone of the Timok exploration project in Serbia. c. In 2018, FCX completed its analysis of the Act and recognized benefits totaling $123 million ( $76 million to the U.S. tax provision and $47 million to PT-FI’s tax provision) associated with alternative minimum tax (AMT) credit refunds. d. Represents net tax credits resulting from the reduction in PT-FI's statutory tax rates in accordance with its new special mining license (IUPK). e. Represents net tax credits associated with the Act, including $272 million for the reversal of valuation allowances associated with AMT credit refunds and $121 million for a decrease in corporate income tax rates. A reconciliation of the U.S. federal statutory tax rate to FCX’s effective income tax rate for the years ended December 31 follows: 2019 2018 2017 Amount Percent Amount Percent Amount Percent U.S. federal statutory tax rate $ (64 ) (21 )% $ (817 ) (21 )% $ (1,016 ) (35 )% Valuation allowance (149 ) a (49 ) 129 a 3 28 1 PT-FI historical contested tax disputes (145 ) (47 ) — — — — Percentage depletion 118 39 141 4 227 8 Effect of foreign rates different than the U.S. federal statutory rate (64 ) (21 ) (494 ) (13 ) 17 1 Withholding and other impacts on foreign earnings (55 ) (18 ) (232 ) (6 ) (216 ) (7 ) Adjustment to deferred taxes (49 ) b (16 ) — — — — Non-deductible permanent differences (47 ) (15 ) (25 ) (1 ) (31 ) (1 ) Uncertain tax positions (47 ) (15 ) (7 ) — (20 ) (1 ) U.S. tax reform 29 c 9 94 c,d 2 393 e 14 Foreign tax credit limitation (16 ) (5 ) (195 ) (5 ) (159 ) (5 ) State income taxes 16 6 7 1 (5 ) (1 ) Cerro Verde royalty dispute f 2 1 (55 ) (1 ) (129 ) (5 ) Change in PT-FI tax rates — — 504 13 — — Timok exploration project sale (15 ) (5 ) — — — — Other items, net (24 ) (9 ) (41 ) (1 ) 28 1 Provision for income taxes $ (510 ) (166 )% $ (991 ) (25 )% $ (883 ) (30 )% a. Refer to “Valuation Allowance” below for discussion of changes. b. Represents net tax charges primarily to adjust deferred taxes on historical balance sheet items in accordance with tax accounting principles. c. As a result of the Act guidance regarding a transition tax issued in 2018, FCX recognized a $29 million tax charge in 2018. Additional guidance released in 2019 resulted in a $29 million tax credit in 2019. d. In 2018, FCX completed its analysis of the Act and recognized benefits totaling $123 million ( $76 million to the U.S. tax provisions and $47 million to PT-FI’s tax provision) associated with AMT credit refunds. e. Represents net tax credits associated with the Act, including $272 million for the reversal of valuation allowances associated with AMT credit refunds and $121 million for a decrease in corporate income tax rates. f. Refer to Note 12 for further discussion of the Cerro Verde royalty dispute. FCX paid federal, state and foreign income taxes totaling $610 million in 2019 , $2.0 billion in 2018 and $702 million in 2017 . FCX received refunds of federal, state and foreign income taxes of $306 million in 2019 , $108 million in 2018 and $329 million in 2017 . The components of deferred taxes follow: December 31, 2019 2018 Deferred tax assets: Foreign tax credits $ 1,716 $ 1,814 Accrued expenses 1,108 1,069 Net operating losses 2,249 2,235 Employee benefit plans 198 204 Other 267 270 Deferred tax assets 5,538 5,592 Valuation allowances (4,576 ) (4,507 ) Net deferred tax assets 962 1,085 Deferred tax liabilities: Property, plant, equipment and mine development costs (4,372 ) (4,405 ) Undistributed earnings (639 ) (601 ) Other (157 ) (107 ) Total deferred tax liabilities (5,168 ) (5,113 ) Net deferred tax liabilities $ (4,206 ) $ (4,028 ) Tax Attributes. At December 31, 2019 , FCX had (i) U.S. foreign tax credits of $1.7 billion that will expire between 2020 and 2027, (ii) U.S. federal net operating losses of $5.9 billion that primarily expire between 2036 and 2037, (iii) U.S. state net operating losses of $10.8 billion that primarily expire between 2020 and 2039, (iv) Spanish net operating losses of $516 million that can be carried forward indefinitely and (v) Indonesia net operating losses of $1.2 billion that expire between 2020 and 2027. Valuation Allowance. On the basis of available information at December 31, 2019 , including positive and negative evidence, FCX has provided valuation allowances for certain of its deferred tax assets where it believes it is more- likely-than-not that some portion or all of such assets will not be realized. Valuation allowances totaled $4.6 billion at December 31, 2019 , and $4.5 billion at December 31, 2018 , and covered all of FCX’s U.S. foreign tax credits, U.S. federal net operating losses, foreign net operating losses and substantially all of its U.S. state net operating losses. The valuation allowance related to FCX’s U.S. foreign tax credits totaled $1.7 billion at December 31, 2019 . FCX has operations in tax jurisdictions where statutory income taxes and withholding taxes are in excess of the U.S. federal income tax rate. Valuation allowances are recognized on foreign tax credits for which no benefit is expected to be realized. The valuation allowance related to FCX’s U.S. federal, state and foreign net operating losses totaled $2.2 billion and foreign deferred tax assets totaled $671 million at December 31, 2019 . Net operating losses and deferred tax assets represent future deductions for which a benefit will only be realized to the extent these deductions offset future income. FCX develops an estimate of which future tax deductions will be realized and recognizes a valuation allowance to the extent these deductions are not expected to be realized in future periods. Valuation allowances will continue to be carried on U.S. foreign tax credits, U.S. federal, state and foreign net operating losses and U.S. federal, state and foreign deferred tax assets, until such time that (i) FCX generates taxable income against which any of the assets, credits or net operating losses can be used, (ii) forecasts of future income provide sufficient positive evidence to support reversal of the valuation allowances or (iii) FCX identifies a prudent and feasible means of securing the benefit of the assets, credits or net operating losses that can be implemented. The $69 million net increase in the valuation allowances during 2019 primarily related to increases totaling $208 million in U.S. federal deferred tax assets for which no benefit is expected to be realized, partly offset by a $98 million decrease in U.S. foreign tax credits associated with expirations and prior year adjustments, and a $44 million decrease in U.S. federal and state net operating loss carryforwards. Other Events. On December 21, 2018, FCX completed the transaction with the Indonesia government regarding PT-FI’s long-term mining rights and share ownership. Concurrent with closing the transaction, the Indonesia government granted PT-FI an IUPK to replace its former COW. Under the terms of the IUPK, PT-FI is subject to a 25 percent corporate income tax rate and a 10 percent profits tax on net income beginning in 2019. As a result of the change in statutory tax rate applicable to deferred income tax liabilities, during fourth-quarter 2018, FCX recognized a tax credit of $504 million . In 2018, PT-FI received unfavorable Indonesia Tax Court decisions with respect to its appeal of capitalized mine development costs on its 2012 and 2014 corporate income tax returns. PT-FI appealed those decisions to the Indonesia Supreme Court. On October 31, 2019, the Indonesia Supreme Court communicated an unfavorable ruling regarding the treatment of mine development costs on PT-FI’s 2014 tax return. During the fourth quarter of 2019, PT-FI met with the Indonesia Tax Office and developed a framework for resolution of the disputed matters. On December 30, 2019, PT-FI made a payment of $250 million based on its understanding of the framework for resolution of disputes arising from the audits of the tax years 2012 through 2016, as well as tax years 2017 (for which a tax audit is not complete) and 2018 (for which a tax audit has not begun). Additional administrative steps will need to be completed by both PT-FI and the Indonesia Tax Office in order to implement the resolution. In conjunction with the framework for resolution above, PT-FI recorded total net charges of $304 million , including $123 million for non-deductible penalties recorded to other (expense) income, $78 million for non-deductible interest recorded to interest expense and $103 million to provision for income tax expense, primarily for the impact of a reduction in the statutory rate on PT-FI’s deferred tax assets. SUNAT, the Peru national tax authority, has assessed mining royalties on ore processed by the Cerro Verde concentrator for the period December 2006 to December 2013, which Cerro Verde has contested on the basis that its 1998 stability agreement exempts from royalties all minerals extracted from its mining concessions, irrespective of the method used for processing those minerals. Refer to Note 12 for further discussion of the Cerro Verde royalty dispute and net charges recorded in 2019, 2018 and 2017. In December 2016, the Peru parliament passed tax legislation that, in part, modified the applicable tax rates established in its December 2014 tax legislation, which progressively decreased the corporate income tax rate from 30 percent in 2014 to 26 percent in 2019 and thereafter, and also increased the dividend tax rate on distributions from 4.1 percent in 2014 to 9.3 percent in 2019 and thereafter. Under the tax legislation, which was effective January 1, 2017, the corporate income tax rate was 29.5 percent , and the dividend tax rate on distributions of earnings was 5 percent . Cerro Verde’s current mining stability agreement subjects FCX to a stable income tax rate of 32 percent through the expiration of the agreement on December 31, 2028. The tax rate on dividend distributions is not stabilized by the agreement. In September 2014, the Chile legislature approved a tax reform package that implemented a dual tax system, which was amended in January 2016. Under previous rules, FCX’s share of income from Chile operations was subject to an effective 35 percent tax rate allocated between income taxes and dividend withholding taxes. Under the amended tax reform package, FCX’s Chile operation is subject to the “Partially-Integrated System,” resulting in FCX’s share of income from El Abra being subject to progressively increasing effective tax rates of 35 percent through 2019 and 44.5 percent in 2020 and thereafter. In November 2017, the progression of increasing tax rates was delayed by the Chile legislature so that the 35 percent rate continues through 2021 increasing to 44.5 percent in 2022 and thereafter. In January 2020, the Chile legislature approved a tax reform package that would further delay the 44.5 percent rate until 2027 and thereafter. FCX does not expect a material impact from the 2020 legislation. In 2010, the Chile legislature approved an increase in mining royalty taxes to help fund earthquake reconstruction activities, education and health programs. Mining royalty taxes at FCX’s El Abra mine were 4 percent for the years 2013 through 2017. Beginning in 2018, and through 2023, rates moved to a sliding scale of 5 to 14 percent (depending on a defined operational margin). Uncertain Tax Positions. FCX accounts for uncertain income tax positions using a threshold and measurement criteria for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. FCX’s policy associated with uncertain tax positions is to record accrued interest in interest expense and accrued penalties in other (expense) income rather than in the provision for income taxes. A summary of the activities associated with FCX’s reserve for unrecognized tax benefits for the years ended December 31 follows: 2019 2018 2017 Balance at beginning of year $ 404 $ 390 $ 101 Additions: Prior year tax positions 73 100 302 Current year tax positions 11 14 6 Decreases: Prior year tax positions (75 ) (86 ) (1 ) Settlements with taxing authorities (37 ) (9 ) (17 ) Lapse of statute of limitations — (5 ) (1 ) Balance at end of year $ 376 $ 404 $ 390 The total amount of accrued interest and penalties associated with unrecognized tax benefits included in the consolidated balance sheets was $231 million at December 31, 2019 , primarily relating to unrecognized tax benefits associated with royalties and other related mining taxes, and $186 million at December 31, 2018, and $22 million at December 31, 2017. The reserve for unrecognized tax benefits of $376 million at December 31, 2019 , included $282 million ( $150 million net of income tax benefits and valuation allowances) that, if recognized, would reduce FCX’s provision for income taxes. Changes to the reserve for unrecognized tax benefits associated with current year tax positions were primarily related to uncertainties associated with FCX ’ s tax treatment of social welfare payments and cost recovery methods. Changes in the reserve for unrecognized tax benefits associated with prior year tax positions were primarily related to uncertainties associated with royalties and other related mining taxes and cost recovery methods. There continues to be uncertainty related to the timing of settlements with taxing authorities. In January 2020, PT-FI noted an unfavorable ruling related to its 2012 tax return on the Indonesia Supreme Court’s website. Once PT-FI receives the written ruling it will determine the amount of any required accruals, which are not expected to be material. If additional settlements are agreed upon during the year 2020, FCX could experience an additional change in its reserve for unrecognized tax benefits. FCX or its subsidiaries file income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. The tax years for FCX’s major tax jurisdictions that remain subject to examination are as follows: Jurisdiction Years Subject to Examination Additional Open Years U.S. Federal N/A 2014-2019 Indonesia 2008, 2011-2017 2018-2019 Peru 2013-2015 2016-2019 Chile 2017-2018 2019

CONTINGENCIES

CONTINGENCIES	12 Months Ended
	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Contingencies	CONTINGENCIES Environmental. FCX subsidiaries are subject to various national, state and local environmental laws and regulations that govern emissions of air pollutants; discharges of water pollutants; generation, handling, storage and disposal of hazardous substances, hazardous wastes and other toxic materials; and remediation, restoration and reclamation of environmental contamination. FCX subsidiaries that operate in the U.S. also are subject to potential liabilities arising under CERCLA and similar state laws that impose responsibility on current and previous owners and operators of a facility for the remediation of hazardous substances released from the facility into the environment, including damages to natural resources, in some cases irrespective of when the damage to the environment occurred or who caused it. Remediation liability also extends to persons who arranged for the disposal of hazardous substances or transported the hazardous substances to a disposal site selected by the transporter. These liabilities are often shared on a joint and several basis, meaning that each responsible party is fully responsible for the remediation, if some or all of the other historical owners or operators no longer exist, do not have the financial ability to respond or cannot be found. As a result, because of FCX’s acquisition of FMC in 2007, many of the subsidiary companies FCX now owns are responsible for a wide variety of environmental remediation projects throughout the U.S., and FCX expects to spend substantial sums annually for many years to address those remediation issues. Certain FCX subsidiaries have been advised by the U.S. Environmental Protection Agency (EPA), the Department of the Interior, the Department of Agriculture and various state agencies that, under CERCLA or similar state laws and regulations, they may be liable for costs of responding to environmental conditions at a number of sites that have been or are being investigated to determine whether releases of hazardous substances have occurred and, if so, to develop and implement remedial actions to address environmental concerns. FCX is also subject to claims where the release of hazardous substances is alleged to have damaged natural resources (NRD) and to litigation by individuals allegedly exposed to hazardous substances. As of December 31, 2019 , FCX had more than 100 active remediation projects, including NRD claims, in 24 U.S. states. A summary of changes in estimated environmental obligations for the years ended December 31 follows: 2019 2018 2017 Balance at beginning of year $ 1,511 $ 1,439 $ 1,221 Accretion expense a 102 100 84 Additions b 23 56 241 Reductions b (1 ) — (43 ) Spending (74 ) (84 ) (64 ) Balance at end of year 1,561 1,511 1,439 Less current portion (106 ) (132 ) (134 ) Long-term portion $ 1,455 $ 1,379 $ 1,305 a. Represents accretion of the fair value of environmental obligations assumed in the 2007 acquisition of FMC, which were determined on a discounted cash flow basis. b. Adjustments to environmental obligations that do not provide future economic benefits are charged to operating income. Reductions primarily reflect revisions for changes in the anticipated scope and timing of projects and other noncash adjustments. Estimated future environmental cash payments (on an undiscounted and unescalated basis) total $106 million in 2020 , $119 million in 2021 , $95 million in 2022 , $100 million in 2023 , $100 million in 2024 and $2.7 billion thereafter. The amount and timing of these estimated payments will change as a result of changes in regulatory requirements, changes in scope and timing of remediation activities, the settlement of environmental matters and as actual spending occurs. At December 31, 2019 , FCX’s environmental obligations totaled $1.6 billion , including $1.4 billion recorded on a discounted basis for those obligations assumed in the FMC acquisition at fair value. On an undiscounted and unescalated basis, these obligations totaled $3.2 billion . FCX estimates it is reasonably possible that these obligations could range between $2.7 billion and $3.7 billion on an undiscounted and unescalated basis. At December 31, 2019 , the most significant environmental obligations were associated with the Pinal Creek site in Arizona; the Newtown Creek site in New York City; historical smelter sites principally located in Arizona, Indiana, Kansas, Missouri, New Jersey, Oklahoma and Pennsylvania; and uranium mining sites in the western U.S. The recorded environmental obligations for these sites totaled $1.4 billion at December 31, 2019 . FCX may also be subject to litigation brought by private parties, regulators and local governmental authorities related to these historical sites. A discussion of these sites follows. Pinal Creek. The Pinal Creek site was listed under the Arizona Department of Environmental Quality’s (ADEQ) Water Quality Assurance Revolving Fund program in 1989 for contamination in the shallow alluvial aquifers within the Pinal Creek drainage near Miami, Arizona. Since that time, environmental remediation has been performed by members of the Pinal Creek Group, consisting of Freeport-McMoRan Miami Inc. (Miami), an indirect wholly owned subsidiary of FCX, and two other companies. Pursuant to a 2010 settlement agreement, Miami agreed to take full responsibility for future groundwater remediation at the Pinal Creek site, with limited exceptions. Remediation work consisting of groundwater extraction and treatment plus source control capping are expected to continue for many years in the future. Newtown Creek. From the 1930s until 1964, Phelps Dodge Refining Corporation (PDRC), an indirect wholly owned subsidiary of FCX, operated a copper smelter, and from the 1930s until 1984 operated a copper refinery, on the banks of Newtown Creek (the creek), which is a 3.5-mile-long waterway that forms part of the boundary between Brooklyn and Queens in New York City. Heavy industrialization along the banks of the creek and discharges from the City of New York’s sewer system over more than a century resulted in significant environmental contamination of the waterway. In 2010, EPA notified PDRC, four other companies and the City of New York that EPA considers them to be PRPs under CERCLA. The notified parties began working with EPA to identify other PRPs. In 2010, EPA designated the creek as a Superfund site, and in 2011, PDRC and five other parties (the Newtown Creek Group, NCG) entered an Administrative Order on Consent (AOC) to perform a remedial investigation/feasibility study (RI/FS) to assess the nature and extent of environmental contamination in the creek and identify potential remedial options. The parties ’ RI/FS work under the AOC and their efforts to identify other PRPs are ongoing. EPA recently identified eight additional parties as PRPs for the creek. The draft RI was submitted to EPA in November 2016, and the draft FS is expected to be submitted to EPA in 2022. EPA is not expected to propose a final creek-wide remedy until after the RI/FS is completed, with remedial design possibly beginning in 2022, and the actual remediation construction starting several years later. In July 2019, NCG entered into an AOC to conduct a Focused Feasibility Study (FFS) of the first two miles of the creek to support an evaluation of an interim remedy for that section of the creek (Early Action). The FFS was submitted to EPA in December 2019, and a decision on this Early Action is expected in late 2020. The actual costs of fulfilling this remedial obligation and the allocation of costs among PRPs are uncertain and subject to change based on the results of the Early Action, the RI/FS, the remedy ultimately selected by EPA and related allocation determinations. The overall cost and the portion ultimately allocated to PDRC could be material to FCX. As a result of revised cost estimates, FCX recorded charges of $138 million during 2017 for the Newtown Creek environmental obligation. Historical Smelter Sites . FCX subsidiaries and their predecessors at various times owned or operated copper, zinc and lead smelters or refineries in states including Arizona, Indiana, Kansas, Missouri, New Jersey, Oklahoma and Pennsylvania. For some of these former processing sites, certain FCX subsidiaries have been advised by EPA or state agencies that they may be liable for costs of investigating and, if appropriate, remediating environmental conditions associated with these former processing facilities. At other sites, certain FCX subsidiaries have entered into state voluntary remediation programs to investigate and, if appropriate, remediate on-site and off-site conditions associated with the facilities. The historical processing sites are in various stages of assessment and remediation. At some of these sites, disputes with local residents and elected officials regarding alleged health effects or the effectiveness of remediation efforts have resulted in litigation of various types, and similar litigation at other sites is possible. From 1920 until 1986, United States Metals Refining Company (USMR), an indirect wholly owned subsidiary of FCX, owned and operated a copper smelter and refinery in the Borough of Carteret, New Jersey. Since the early 1980s, the site has been the subject of environmental investigation and remediation, under the direction and supervision of the New Jersey Department of Environmental Protection (NJDEP). On-site contamination is in the later stages of remediation. In 2012, after receiving a request from NJDEP, USMR also began investigating and remediating off-site properties, which is ongoing. On January 30, 2017, a class action titled Juan Duarte, Betsy Duarte and N.D., Infant, by Parents and Natural Guardians Juan Duarte and Betsy Duarte, Leroy Nobles and Betty Nobles, on behalf of themselves and all others similarly situated v. United States Metals Refining Company, Freeport-McMoRan Copper & Gold Inc. and Amax Realty Development, Inc. , Docket No. 734-17, was filed in the Superior Court of New Jersey against USMR, FCX, and Amax Realty Development, Inc. The defendants removed this litigation to the U.S. District Court for the District of New Jersey, where it remains pending. In December 2017, the plaintiffs amended their complaint and FCX was dismissed as a defendant and FMC was added as a defendant to the lawsuit. In 2019, the court allowed the plaintiffs to add FCX back into the case as a defendant. The suit alleges that USMR generated and disposed of smelter waste at the site and allegedly released contaminants on-site and off-site through discharges to surface water and air emissions over a period of decades and seeks unspecified compensatory and punitive damages for economic losses, including diminished property values, additional soil investigation and remediation and other damages. In January 2020, the parties completed briefing on the plaintiffs’ motion to certify a class, which is expected to take at least several months for the court to decide. FCX continues to vigorously defend this matter. As a result of off-site soil sampling in public and private areas near the former Carteret smelter, FCX increased its associated environmental obligation for known and potential off-site environmental remediation by recording a $59 million charge to operating income in 2017. Additional sampling and analysis continued through 2019 and is ongoing and could result in additional adjustments to the related environmental remediation obligation in future periods. In 2019, FCX established a new project for off-site sediment contamination. The extent of contamination and potential remedial actions are uncertain and may take several years to evaluate. Uranium Mining Sites. During a period between 1940 and the early 1980s, certain FCX subsidiaries and their predecessors were involved in uranium exploration and mining in the western U.S., primarily on federal and tribal lands in the Four Corners region of the southwest. Similar exploration and mining activities by other companies have also caused environmental impacts warranting remediation. In early 2017, the Department of Justice, EPA, Navajo Nation, and two FCX subsidiaries reached an agreement regarding the financial contribution of the U.S. Government and the FCX subsidiaries and the scope of the environmental investigation and remediation work for 94 former uranium mining sites on tribal lands. The settlement terms are contained in a Consent Decree executed on May 22, 2017, and approved by the U.S. District Court for the District of Arizona. Under the Consent Decree, the U.S. contributed $335 million into a trust fund to cover the government’s initial share of the costs, and FCX’s subsidiaries are proceeding with the environmental investigation and remediation work at the 94 sites. The program is expected to take more than 20 years to complete. Based on updated cash flow and timing estimates, FCX reduced its associated obligation by recording a $41 million credit to operating income in 2017 after receiving court approval of the Consent Decree. In addition to uranium activities on tribal lands, FCX is conducting site surveys of historical uranium mining claims associated with FCX subsidiaries on non-tribal federal lands in the Four Corners region. Under a memorandum of understanding with the U.S. Bureau of Land Management (BLM), site surveys are being performed on over 10,000 mining claims, ranging from undisturbed claims to claims with mining features. Based on these surveys, BLM has issued no further action determinations for certain undisturbed claims. BLM may request additional assessment or reclamation activities for other claims with mining features. AROs. FCX’s ARO estimates are reflected on a third-party cost basis and are based on FCX’s legal obligation to retire tangible, long-lived assets. A summary of changes in FCX’s AROs for the years ended December 31 follows: 2019 2018 2017 Balance at beginning of year $ 2,547 $ 2,583 $ 2,638 Liabilities incurred 20 1 14 Settlements and revisions to cash flow estimates, net (5 ) 50 (112 ) Accretion expense 118 110 124 Dispositions (5 ) (37 ) (10 ) Spending (170 ) (160 ) (71 ) Balance at end of year 2,505 2,547 2,583 Less current portion (330 ) (317 ) (286 ) Long-term portion $ 2,175 $ 2,230 $ 2,297 ARO costs may increase or decrease significantly in the future as a result of changes in regulations, changes in engineering designs and technology, permit modifications or updates, changes in mine plans, settlements, inflation or other factors and as reclamation (concurrent with mining operations or post mining) spending occurs. ARO activities and expenditures for mining operations generally are made over an extended period of time commencing near the end of the mine life; however, certain reclamation activities may be accelerated if legally required or if determined to be economically beneficial. The methods used or required to plug and abandon non-producing oil and gas wellbores; remove platforms, tanks, production equipment and flow lines; and restore wellsites could change over time. Financial Assurance. New Mexico, Arizona, Colorado and other states, as well as federal regulations governing mine operations on federal land, require financial assurance to be provided for the estimated costs of mine reclamation and closure, including groundwater quality protection programs. FCX has satisfied financial assurance requirements by using a variety of mechanisms, primarily involving parent company performance guarantees and financial capability demonstrations, but also including trust funds, surety bonds, letters of credit and other collateral. The applicable regulations specify financial strength tests that are designed to confirm a company’s or guarantor’s financial capability to fund estimated reclamation and closure costs. The amount of financial assurance FCX subsidiaries are required to provide will vary with changes in laws, regulations, reclamation and closure requirements, and cost estimates. At December 31, 2019 , FCX’s financial assurance obligations associated with these U.S. mine closure and reclamation/restoration costs totaled $1.3 billion , of which $822 million was in the form of guarantees issued by FCX and FMC. At December 31, 2019 , FCX had trust assets totaling $196 million (included in other assets), which are legally restricted to be used to satisfy its financial assurance obligations for its mining properties in New Mexico. In addition, FCX subsidiaries have financial assurance obligations for its oil and gas properties associated with plugging and abandoning wells and facilities totaling $481 million . Where oil and gas guarantees associated with the Bureau of Ocean Energy Management do not include a stated cap, the amounts reflect management’s estimates of the potential exposure. New Mexico Environmental and Reclamation Programs. FCX’s New Mexico operations are regulated under the New Mexico Water Quality Act and regulations adopted by the Water Quality Control Commission. In connection with discharge permits, the New Mexico Environment Department (NMED) has required each of these operations to submit closure plans for NMED’s approval. The closure plans must include measures to assure meeting applicable groundwater quality standards following the closure of discharging facilities and to abate groundwater or surface water contamination to meet applicable standards. FCX’s New Mexico operations also are subject to regulation under the 1993 New Mexico Mining Act (the Mining Act) and the related rules that are administered by the Mining and Minerals Division of the New Mexico Energy, Minerals and Natural Resources Department. Under the Mining Act, mines are required to obtain approval of reclamation plans. A finalized closure plan for Chino that met the requirements of these rules was submitted in 2019 for approval. The agencies accepted the closure and post-closure scopes of work cost estimates, and FCX expects to reach an agreement with the agencies on financial assurance calculations and remaining issues in early 2020. Following agency approval of Chino’s closure plan and costs, updated closure plans for Tyrone and Cobre will also be submitted for approval, which FCX expects will result in increases in closure costs for its New Mexico operations. At December 31, 2019 , FCX had accrued reclamation and closure costs of $454 million for its New Mexico operations. Additional accruals may be required based on the state’s periodic review of FCX’s updated closure plans and any resulting permit conditions, and the amount of those accruals could be material. Arizona Environmental and Reclamation Programs. FCX’s Arizona properties are subject to regulatory oversight in several areas. ADEQ has adopted regulations for its aquifer protection permit (APP) program that require permits for, among other things, certain facilities, activities and structures used for mining, leaching, concentrating and smelting, and require compliance with aquifer water quality standards at an applicable point of compliance well or location during both operations and closure. The APP program also may require mitigation and discharge reduction or elimination of some discharges. An application for an APP requires a proposed closure strategy that will meet applicable groundwater protection requirements following cessation of operations and an estimate of the cost to implement the closure strategy. An APP application specifies closure obligations, including post-closure monitoring and maintenance. A more detailed closure plan must be submitted within 90 days after a permitted entity notifies ADEQ of its intent to cease operations. A permit applicant must demonstrate its financial ability to meet the closure costs approved by ADEQ. In 2014, the state enacted legislation requiring closure costs for facilities covered by APPs to be updated no more frequently than every six years and financial assurance mechanisms to be updated no more frequently than every two years. In 2016, ADEQ approved a closure plan update for Sierrita, which resulted in increased closure costs. In 2019, ADEQ approved a closure plan update for Morenci (specific to the tailing dams), which resulted in increased closure costs. Morenci’s APP requires it to also update stockpile reclamation plans by 2022, which will result in increased closure costs. FCX will continue updating its closure strategy and closure cost estimates at other Arizona sites and intends to submit an updated tailings dam system closure cost for Bagdad by 2024. Portions of Arizona mining facilities that operated after January 1, 1986, also are subject to the Arizona Mined Land Reclamation Act (AMLRA). AMLRA requires reclamation to achieve stability and safety consistent with post-mining land use objectives specified in a reclamation plan. Reclamation plans must be approved by the State Mine Inspector and must include an estimate of the cost to perform the reclamation measures specified in the plan along with financial assurance. FCX will continue to evaluate options for future reclamation and closure activities at its operating and non-operating sites, which are likely to result in adjustments to FCX’s AROs, and those adjustments could be material. At December 31, 2019 , FCX had accrued reclamation and closure costs of $345 million for its Arizona operations. Colorado Reclamation Programs. FCX’s Colorado operations are regulated by the Colorado Mined Land Reclamation Act (Reclamation Act) and regulations promulgated thereunder. Under the Reclamation Act, mines are required to obtain approval of plans for reclamation of lands affected by mining operations to be performed during mining or upon cessation of mining operations. During 2016, at the request of the Colorado Division of Reclamation Mining & Safety, the Climax mine submitted a revised cost estimate for its current reclamation plan, which did not materially change the closure plan cost. In 2017, Henderson began considering alternatives for the closure of the tailings facility and, in 2018, began evaluating potential options for long-term water treatment. In December 2019, Henderson submitted an updated closure plan, which resulted in increased closure costs. As of December 31, 2019 , FCX had accrued reclamation and closure costs of $130 million for its Colorado operations. In 2019, Colorado enacted legislation that requires proof of an end date for water treatment as a condition of permit authorizations for new mining operations and expansions beyond current permit authorizations. While this requirement does not apply to existing operations, it may lead to changes in long-term water management requirements at Climax and Henderson operations and AROs. Chile Reclamation and Closure Programs. In July 2011, the Chile senate passed legislation regulating mine closure, which established new requirements for closure plans. In compliance with the requirement for five-year updates, in November 2018, FCX’s El Abra operation submitted an updated plan with closure cost estimates based on the existing approved closure plan. Approval is expected in 2020. This update will not result in a material increase to closure costs. At December 31, 2019 , FCX had accrued reclamation and closure costs of $62 million for its El Abra operation. Peru Reclamation and Closure Programs . Cerro Verde is subject to regulation under the Mine Closure Law administered by the Peru Ministry of Energy and Mines. Under the closure regulations, mines must submit a closure plan that includes the reclamation methods, closure cost estimates, methods of control and verification, closure and post-closure plans, and financial assurance. In compliance with the five-year closure plan and cost update required by the Mine Closure Law, the latest closure plan and cost estimate for the Cerro Verde mine expansion were submitted to the Peru regulatory authorities in 2017 and approved in February 2018. This update did not result in a material increase to closure costs. At December 31, 2019 , FCX had accrued reclamation and closure costs of $125 million for its Cerro Verde operation. Indonesia Reclamation and Closure Programs. The ultimate amount of reclamation and closure costs to be incurred at PT-FI’s operations will be determined based on applicable laws and regulations and PT-FI’s assessment of appropriate remedial activities in the circumstances, after consultation with governmental authorities, affected local residents and other affected parties and cannot currently be projected with precision. Some reclamation costs will be incurred during mining activities, while the remaining reclamation costs will be incurred at the end of mining activities, which are currently estimated to continue through 2041. At December 31, 2019 , FCX had accrued reclamation and closure costs of $936 million for its PT-FI operations. During fourth-quarter 2019 , PT-FI mined the final phase of the Grasberg open pit. As a result, any adjustments to the estimated costs to reclaim PT-FI’s overburden stockpile will impact earnings. In December 2009, PT-FI submitted its revised mine closure plan to the Department of Energy and Mineral Resources for review and addressed comments received during the course of this review process. In December 2010, the Indonesia government issued a regulation regarding mine reclamation and closure, which requires a company to provide a mine closure guarantee in the form of a time deposit placed in a state-owned bank in Indonesia. In December 2018, PT-FI, in conjunction with the issuance of the IUPK, submitted a revised mine closure plan to reflect the extension of operations to 2041. At December 31, 2019 , PT-FI had $92 million in a restricted time deposit account for mine closure guarantees and $8 million for reclamation guarantees. In October 2017, Indonesia’s Ministry of Environment and Forestry (the MOEF) notified PT-FI of administrative sanctions related to certain activities the MOEF indicated are not reflected in PT-FI’s environmental permit. The MOEF also notified PT-FI that certain operational activities were inconsistent with factors set forth in its environmental permitting studies and that additional monitoring and improvements need to be undertaken related to air quality, water drainage, treatment and handling of certain wastes, and tailings management. In December 2018, the MOEF issued a revised environmental permit to PT-FI to address many of the operational activities that it alleged were inconsistent with earlier studies. The remaining administrative sanctions are being resolved through adoption of revised practices and, in a few situations, PT-FI has agreed with the MOEF on an appropriate multi-year work plan, including the closure of an overburden stockpile. In addition, PT-FI continues to work with MOEF to finalize environmental permitting related to the rail facilities and certain of the underground mining production operations as well as permitting for the extension of levees to contain the lateral flow of tailings in the lowlands. In December 2018, PT-FI and the MOEF also established a new framework for continuous improvement in environmental practices in PT-FI’s operations, including initiatives that PT-FI will pursue to increase tailings retention and to evaluate large-scale beneficial uses of tailings within Indonesia. The MOEF issued a new decree that incorporates various initiatives and studies to be completed by PT-FI that would target continuous improvement in a manner that would not impose new technical risks or significant long-term costs to PT-FI’s operations. The new framework enables PT-FI to maintain compliance with site-specific standards and provides for ongoing monitoring by the MOEF. In 2018, PT-FI recorded a $32 million charge for MOEF assessments of prior period permit fees. Oil and Gas Properties. Substantially all of FM O&G’s oil and gas leases require that, upon termination of economic production, the working interest owners plug and abandon non-producing wellbores, remove equipment and facilities from leased acreage, and restore land in accordance with applicable local, state and federal laws. Following several sales transactions, FM O&G’s remaining operating areas primarily include offshore California and the Gulf of Mexico (GOM) as of December 31, 2019 . FM O&G AROs cover approximately 210 wells and 120 platforms and other structures. At December 31, 2019 , FM O&G had accrued reclamation and closure costs of $420 million . Litigation. FCX is involved in numerous legal proceedings that arise in the ordinary course of business or are associated with environmental issues as discussed in this note under “Environmental.” FCX is also involved periodically in reviews, inquiries, investigations and other proceedings initiated by or involving government agencies, some of which may result in adverse judgments, settlements, fines, penalties, injunctions or other relief. Management does not believe, based on currently available information, that the outcome of any legal proceeding will have a material adverse effect on FCX’s financial condition, although individual or cumulative outcomes could be material to FCX’s operating results for a particular period, depending on the nature and magnitude of the outcome and the operating results for the period. Louisiana Parishes Coastal Erosion Cases. Certain FCX affiliates were named as defendants, along with numerous co-defendants, in 13 cases out of a total of 42 cases filed in Louisiana state courts by six south Louisiana parishes (Cameron, Jefferson, Plaquemines, St. Bernard, St. John the Baptist and Vermilion), alleging that certain oil and gas exploration and production operations and sulphur mining and production operations in coastal Louisiana contaminated and damaged coastal wetlands and caused significant land loss along the Louisiana coast. The state of Louisiana, through the Attorney General and separately through the Louisiana Department of Natural Resources, intervened in the litigation in support of the parishes’ claims. Specifically, the cases alleged the defendants failed to obtain and/or comply with required coastal use permits in violation of the Louisiana State and Local Coastal Resources Management Act of 1978, and sought unspecified damages for the alleged statutory violations, and restoration of the properties at issue to their original condition. Certain FCX affiliates were named as defendants in two of the five cases that had been set for trial, both originally filed on November 8, 2013: Parish of Plaquemines v. ConocoPhillips Company et al , 25th Judicial District Court, Plaquemines Parish, Louisiana; No. 60-982, Div. B and Parish of Plaquemines v. Hilcorp Energy Company et al , 25th Judicial District Court, Plaquemines Parish, Louisiana; No. 60-999, Div. B. In September 2019, affiliates of FCX reached an agreement in principle to settle all 13 cases. 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 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. FCX currently expects the settlement agreement to be executed during the f

COMMITMENTS AND GUARANTEES

COMMITMENTS AND GUARANTEES	12 Months Ended
	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Guarantees	COMMITMENTS AND GUARANTEES Leases. Effective January 1, 2019, FCX adopted the new ASU for lease accounting (refer to Note 1 for further discussion). 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. The components of FCX’s leases presented in the consolidated balance sheet as of December 31, 2019 , follow: Lease right-of-use assets (included in property, plant, equipment and mine development costs, net) $ 232 Short-term lease liabilities (included in accounts payable and accrued liabilities) $ 44 Long-term lease liabilities (included in other liabilities) 204 Total lease liabilities $ 248 Operating lease costs for the year ended December 31, 2019 , primarily included in production and delivery expense in the consolidated statement of operations, are as follows: Operating leases $ 55 Variable and short-term leases 79 Total operating lease costs $ 134 Prior to the adoption of the new ASU, lease costs totaled $80 million in 2018 and $59 million in 2017 (FCX elected the practical expedient not to adjust these years). FCX paid $43 million during 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 December 31, 2019 , the weighted-average discount rate used to determine the lease liabilities was 5.5 percent and the weighted-average remaining lease term was 8.2 years . The future minimum payments for leases presented in the consolidated balance sheet at December 31, 2019 , follow: 2020 $ 57 2021 43 2022 36 2023 31 2024 29 Thereafter 121 Total payments 317 Less amount representing interest (69 ) Present value of net minimum lease payments 248 Less current portion (44 ) Long-term portion $ 204 Future minimum rentals under non-cancelable leases at December 31, 2018, under the prior lease accounting standard, totaled $53 million in 2019, $42 million in 2020, $38 million in 2021, $32 million in 2022, $29 million in 2023 and $171 million thereafter. Contractual Obligations. At December 31, 2019 , based on applicable prices on that date, FCX has unconditional purchase obligations (including take-or-pay contracts with terms less than one year) of $3.6 billion , primarily comprising the procurement of copper concentrate ( $2.3 billion ), cobalt ( $470 million ), electricity ( $382 million ) and transportation services ( $268 million ). Some of FCX’s unconditional purchase obligations are settled based on the prevailing market rate for the service or commodity purchased. In some cases, the amount of the actual obligation may change over time because of market conditions. Obligations for copper concentrate provide for deliveries of specified volumes to Atlantic Copper at market-based prices. Obligations for cobalt hydroxide intermediate provide for deliveries of specified volumes to Freeport Cobalt at market-based prices. Electricity obligations are primarily for long-term power purchase agreements in North America and contractual minimum demand at the South America mines. Transportation obligations are primarily for South America contracted ocean freight. FCX’s unconditional purchase obligations by year total $1.6 billion in 2020 , $731 million in 2021 , $300 million in 2022 , $274 million in 2023 , $270 million in 2024 and $387 million thereafter. During the three-year period ended December 31, 2019 , FCX fulfilled its minimum contractual purchase obligations. Special Mining License (IUPK) - Indonesia. As discussed in Note 2, on December 21, 2018, FCX completed the transaction with the Indonesia government regarding PT-FI’s long-term mining rights and share ownership. Concurrent with the closing of the transaction, the Indonesia government granted PT-FI an IUPK to replace its former COW, enabling PT-FI to conduct operations in the Grasberg minerals district through 2041. Under the terms of the IUPK, PT-FI has been granted an extension of mining rights through 2031, with rights to extend mining rights through 2041, subject to PT-FI completing the construction of a new smelter in Indonesia within five years of closing the transaction and fulfilling its defined fiscal obligations to the Indonesia government. The IUPK, and related documentation, contains legal and fiscal terms and is legally enforceable through 2041. In addition, FCX, as a foreign investor, has rights to resolve investment disputes with the Indonesia government through international arbitration. The key fiscal terms set forth in the IUPK include a 25 percent corporate income tax rate, a 10 percent profits tax on net income, and royalty rates of 4 percent for copper, 3.75 percent for gold and 3.25 percent for silver. PT-FI’s royalties totaled $106 million in 2019, $238 million in 2018 and $173 million in 2017. The IUPK requires PT-FI to pay export duties of 5 percent , declining to 2.5 percent when smelter development progress exceeds 30 percent and eliminated when smelter progress exceeds 50 percent . PT-FI had previously agreed to and has been paying export duties since July 2014 (refer to Note 12 for further discussion of disputed export duties for the period April 2017 to December 21, 2018). PT-FI’s export duties charged against revenues totaled $66 million in 2019 (excluding $155 million associated with the historical export duty matter as discussed in Note 12), $180 million in 2018 and $115 million in 2017. The IUPK also requires PT-FI to pay surface water taxes of $15 million annually, beginning in 2019, which are recognized in production and delivery costs as incurred. In connection with a memorandum of understanding previously entered into with the Indonesia government in July 2014, PT-FI provided an assurance bond at that time to support its commitment to construct a new smelter in Indonesia ( $157 million based on exchange rate as of December 31, 2019). On September 12, 2019, PT-FI received approval from the Indonesia 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. Community Development Programs. FCX has adopted policies that govern its working relationships with the communities where it operates. These policies are designed to guide its practices and programs in a manner that respects and promotes basic human rights and the culture of the local people impacted by FCX’s operations. FCX continues to make significant expenditures on community development, education, training and cultural programs. In 1996, PT-FI established the Freeport Partnership Fund for Community Development (Partnership Fund) through which PT-FI has made available funding and technical assistance to support community development initiatives in the areas of health, education, economic development and local infrastructure of the area. PT-FI had committed through December 31, 2019, to provide one percent of its annual revenue for the development of the local communities in its area of operations through the Partnership Fund. Negotiations to extend this agreement are currently underway though PT-FI will continue its contributions to ensure there are no interruptions in the implementation of approved projects. PT-FI charged $28 million in 2019 , $55 million in 2018 and $44 million in 2017 to cost of sales for this commitment. Guarantees. FCX provides certain financial guarantees (including indirect guarantees of the indebtedness of others) and indemnities. Prior to its acquisition by FCX, FMC and its subsidiaries have, as part of merger, acquisition, divestiture and other transactions, from time to time, indemnified certain sellers, buyers or other parties related to the transaction from and against certain liabilities associated with conditions in existence (or claims associated with actions taken) prior to the closing date of the transaction. As part of these transactions, FMC indemnified the counterparty from and against certain excluded or retained liabilities existing at the time of sale that would otherwise have been transferred to the party at closing. These indemnity provisions generally now require FCX to indemnify the party against certain liabilities that may arise in the future from the pre-closing activities of FMC for assets sold or purchased. The indemnity classifications include environmental, tax and certain operating liabilities, claims or litigation existing at closing and various excluded liabilities or obligations. Most of these indemnity obligations arise from transactions that closed many years ago, and given the nature of these indemnity obligations, it is not possible to estimate the maximum potential exposure. Except as described in the following sentence, FCX does not consider any of such obligations as having a probable likelihood of payment that is reasonably estimable, and accordingly, has not recorded any obligations associated with these indemnities. With respect to FCX’s environmental indemnity obligations, any expected costs from these guarantees are accrued when potential environmental obligations are considered by management to be probable and the costs can be reasonably estimated.

FINANCIAL INSTRUMENTS (Notes)

FINANCIAL INSTRUMENTS (Notes)	12 Months Ended
	Dec. 31, 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 December 31, 2019 and 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 COMEX average copper price in the month of shipment. FCX hedges this price exposure in a manner that allows it to receive the COMEX average price in the month of shipment while the customers pay the fixed price they requested. FCX accomplishes this by entering into copper futures or swap contracts. Hedging gains or losses from these copper futures and swap contracts are recorded in revenues. FCX did not have any significant gains or losses during the three years ended December 31, 2019 , resulting from hedge ineffectiveness. At December 31, 2019 , FCX held copper futures and swap contracts that qualified for hedge accounting for 54 million pounds at an average contract price of $2.69 per pound, with maturities through August 2021 . A summary of gains (losses) recognized in revenues for derivative financial instruments related to commodity contracts that are designated and qualify as fair value hedge transactions, including the unrealized (losses) gains on the related hedged item for the years ended December 31 follows: 2019 2018 2017 Copper futures and swap contracts: Unrealized gains (losses): Derivative financial instruments $ 15 $ (20 ) $ 4 Hedged item – firm sales commitments (15 ) 20 (4 ) Realized (losses) gains: Matured derivative financial instruments (8 ) (22 ) 30 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 LME copper price or the COMEX copper price and the 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 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 price, 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 December 31, 2019 , follows: Open Average Price Per Unit Maturities Positions Contract Market Through Embedded derivatives in provisional sales contracts: Copper (millions of pounds) 481 $ 2.67 $ 2.80 May 2020 Gold (thousands of ounces) 112 1,471 1,527 February 2020 Embedded derivatives in provisional purchase contracts: Copper (millions of pounds) 129 2.64 2.80 April 2020 Copper Forward Contracts. Atlantic Copper, FCX’s wholly owned smelting and refining unit in Spain, enters into copper forward contracts designed to hedge its copper price risk whenever its physical purchases and sales pricing periods do not match. These economic hedge transactions are intended to hedge against changes in copper prices, with the mark-to-market hedging gains or losses recorded in cost of sales. At December 31, 2019 , Atlantic Copper held net copper forward sales contracts for 30 million pounds at an average contract price of $2.75 per pound, with maturities through February 2020 . Summary of Gains (Losses). A summary of the realized and unrealized gains (losses) recognized in operating income for commodity contracts that do not qualify as hedge transactions, including embedded derivatives, for the years ended December 31 follows: 2019 2018 2017 Embedded derivatives in provisional sales contracts a Copper $ 34 $ (310 ) $ 489 Gold and other 20 (7 ) 26 Copper forward contracts b (7 ) 18 (15 ) a. Amounts recorded in revenues. b. Amounts recorded in cost of sales as production and delivery costs. Unsettled Derivative Financial Instruments A summary of the fair values of unsettled commodity derivative financial instruments follows: December 31, 2019 2018 Commodity Derivative Assets: Derivatives designated as hedging instruments: Copper futures and swap contracts $ 6 $ — Derivatives not designated as hedging instruments: Embedded derivatives in provisional sales/purchase contracts 68 23 Total derivative assets $ 74 $ 23 Commodity Derivative Liabilities: Derivatives designated as hedging instruments: Copper futures and swap contracts $ — $ 9 Derivatives not designated as hedging instruments: Embedded derivatives in provisional sales/purchase contracts 20 39 Copper forward contracts 1 — Total derivative liabilities $ 21 $ 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 sheet follows: Assets at December 31, Liabilities at December 31, 2019 2018 2019 2018 Gross amounts recognized: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts $ 68 $ 23 $ 20 $ 39 Copper derivatives 6 — 1 9 74 23 21 48 Less gross amounts of offset: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts — 7 — 7 Copper derivatives — — — — — 7 — 7 Net amounts presented in balance sheet: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts 68 16 20 32 Copper derivatives 6 — 1 9 $ 74 $ 16 $ 21 $ 41 Balance sheet classification: Trade accounts receivable $ 66 $ 3 $ — $ 24 Other current assets 6 — — — Accounts payable and accrued liabilities 2 13 21 17 $ 74 $ 16 $ 21 $ 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 December 31, 2019 , the maximum amount of credit exposure associated with derivative transactions was $74 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 December 31, 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 15 for the fair values of investment securities, legally restricted funds and long-term debt). In addition, as of December 31, 2019 , FCX has contingent consideration assets related to the sales of certain oil and gas properties (refer to Note 15 for the related fair values). 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 to the components presented in the consolidated balance sheets: December 31, 2019 2018 Balance sheet components: Cash and cash equivalents $ 2,020 $ 4,217 Restricted cash and restricted cash equivalents included in: Other current assets 100 110 Other assets 158 128 Total cash, cash equivalents, restricted cash and restricted cash equivalents presented in the consolidated statements of cash flows $ 2,278 $ 4,455

FAIR VALUE MEASUREMENT (Notes)

FAIR VALUE MEASUREMENT (Notes)	12 Months Ended
	Dec. 31, 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 for 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 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 14) follows: At December 31, 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 43 43 — — 43 — Government bonds and notes 36 36 — — 36 — Corporate bonds 33 33 — — 33 — Asset-backed securities 14 14 — — 14 — Collateralized mortgage-backed securities 7 7 — — 7 — Money market funds 3 3 — 3 — — Municipal bonds 1 1 — — 1 — Total 196 196 59 3 134 — Derivatives: Embedded derivatives in provisional copper, gold and cobalt sales/purchase contracts in a gross asset position c 68 68 — — 68 — Copper futures and swap contracts c 6 6 — 5 1 — Contingent consideration for the sale of onshore California oil and gas properties a 11 11 — — 11 — Total 85 85 — 5 80 — Contingent consideration for the sale of the Deepwater GOM oil and gas properties a 122 108 — — — 108 Liabilities Derivatives: c Embedded derivatives in provisional copper, gold and cobalt sales/purchase contracts in a gross liability position 20 20 — — 20 — Copper forward contracts 1 1 — — 1 — Total 21 21 — — 21 — Long-term debt, including current portion d 9,826 10,239 — — 10,239 — 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 December 31, 2019 , and $109 million at December 31, 2018 , and (ii) other assets of $157 million at December 31, 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 (refer to Note 13 for further discussion) and PT-FI’s closure and reclamation guarantees (refer to Note 12 for further discussion). c. Refer to Note 14 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. 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 only 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 14 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 copper prices at each reporting date based on the month of maturity (refer to Note 14 for further discussion). Certain of these contracts are traded on the over-the-counter market and are classified within Level 2 of the fair value hierarchy based on COMEX and LME copper forward prices. In 2016, FCX completed the sale of its onshore California oil and gas properties, which 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) was $11 million at December 31, 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 (included in other current assets in the consolidated balance sheet at December 31, 2018) 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. Contingent consideration of $50 million was not realized in 2019 because the average Brent crude oil price did not exceeded $70 per barrel for 2019. The fair values, including the contingent consideration derivative associated with the 2016 TFHL sale (refer to Note 2 for further discussion), are 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. In 2016, FCX completed the sale of its Deepwater GOM oil and gas properties, which 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 2018. The balance included in (i) other current assets totaled $18 million at December 31, 2019, and $27 million at December 31, 2018, and (ii) other assets totaled $104 million at December 31, 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 valued using available market quotes and, as such, is classified within Level 2 of the fair value hierarchy. The techniques described above may produce a fair value calculation that may not be indicative of NRV or reflective of future fair values. Furthermore, while FCX believes its valuation techniques are appropriate and consistent with those used by other market participants, the use of different techniques or assumptions to determine fair value of certain financial instruments could result in a different fair value measurement at the reporting date. There have been no changes in the techniques used at December 31, 2019 . 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, for the years ended December 31 follows: 2019 2018 2017 Balance at beginning of year $ 127 $ 134 $ 135 Net unrealized gains (losses) related to assets still held at the end of the year 2 — (1 ) Settlements (21 ) (7 ) — Balance at end of year $ 108 $ 127 $ 134 Refer to Notes 1 and 2 for a discussion of the fair value estimates associated with other assets acquired and liabilities assumed related to the PT-FI divestment, which were determined based on inputs not observable in the market and thus represent Level 3 measurements.

BUSINESS SEGMENTS INFORMATION

BUSINESS SEGMENTS INFORMATION	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Business Segment Information	BUSINESS SEGMENT INFORMATION Product Revenues. FCX’s revenues attributable to the products it sold for the years ended December 31 follow: 2019 2018 2017 Copper: Concentrate $ 4,566 $ 6,180 $ 5,604 Cathode 3,656 4,366 3,759 Rod and other refined copper products 2,110 2,396 2,387 Purchased copper a 1,060 1,053 789 Gold 1,620 3,231 2,126 Molybdenum 1,169 1,190 896 Other b 905 1,490 1,159 Adjustments to revenues: Treatment charges (404 ) (535 ) (536 ) Royalty expense c (113 ) (246 ) (181 ) Export duties d (221 ) (180 ) (115 ) Revenues from contracts with customers 14,348 18,945 15,888 Embedded derivatives e 54 (317 ) 515 Total consolidated revenues $ 14,402 $ 18,628 $ 16,403 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 year 2019 includes charges totaling $155 million primarily associated with an unfavorable Indonesia Supreme Court ruling related to certain disputed export duties (refer to Note 12). e. Refer to Note 14 for discussion of embedded derivatives related to FCX’s provisionally priced concentrate and cathode sales contracts. Geographic Area. Information concerning financial data by geographic area follows: December 31, 2019 2018 Long-lived assets: a Indonesia $ 14,971 $ 14,025 U.S. 8,834 8,476 Peru 7,215 7,313 Chile 1,084 1,077 Other 384 458 Total $ 32,488 $ 31,349 a. Excludes deferred tax assets and intangible assets. Years Ended December 31, 2019 2018 2017 Revenues: a U.S. $ 5,107 $ 5,790 $ 5,344 Switzerland 2,223 2,941 1,200 Indonesia 1,894 2,226 2,023 Japan 1,181 1,946 1,882 Spain 884 1,070 1,086 China 531 873 1,136 Germany 311 256 161 Chile 242 294 248 United Kingdom 233 296 226 France 198 255 122 Belgium 160 278 39 Korea 140 269 364 India 107 389 782 Philippines 73 221 378 Bermuda 38 207 226 Other 1,080 1,317 1,186 Total $ 14,402 $ 18,628 $ 16,403 a. Revenues are attributed to countries based on the location of the customer. Major Customers and Affiliated Companies. Copper concentrate sales to PT Smelting totaled 13 percent of FCX’s consolidated revenues for the year ended December 31, 2019 , and 12 percent for both the years ended December 31, 2018 and 2017 , which is the only customer that accounted for 10 percent or more of FCX’s consolidated revenues during the three years ended December 31, 2019 . Consolidated revenues include sales to the noncontrolling interest owners of FCX’s South America mining operations totaling $1.0 billion in 2019 , $1.2 billion in 2018 and $1.1 billion in 2017 , and PT-FI’s sales to PT Smelting totaling $1.9 billion in 2019 , $2.2 billion in 2018 and $2.0 billion in 2017 . Labor Matters . As of December 31, 2019 , approximately 37 percent of FCX’s global labor force was covered by collective bargaining agreements, and approximately 21 percent was covered by agreements that expired and are currently being negotiated or will expire within one year. PT-FI and union officials have commenced discussions for a new two-year labor agreement. The existing agreement, which expired in September 2019, will continue in effect until a new agreement is consummated. 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, Bagdad, Cerro Verde and Grasberg (Indonesia Mining) copper mines, the Rod & Refining operations and Atlantic Copper Smelting & Refining. Beginning in 2019, Bagdad became a reportable segment. As a result, FCX revised its segment disclosure for the years ended December 31, 2018 and 2017, to conform with the current year presentation. 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. North America Copper Mines. FCX operates seven open-pit copper mines in North America – Morenci, Bagdad, Safford, Sierrita and Miami in Arizona, and Chino and Tyrone in New Mexico. The North America copper mines include open-pit mining, sulfide ore concentrating, leaching and SX/EW operations. A majority of the copper produced at the North America copper mines is cast into copper rod by FCX’s Rod & Refining segment. In addition to copper, certain of FCX’s North America copper mines also produce molybdenum concentrate, gold and silver. The Morenci open-pit mine, located in southeastern Arizona, produces copper cathode and copper concentrate. In addition to copper, the Morenci mine also produces molybdenum concentrate. The Morenci mine produced 50 percent of FCX’s North America copper during 2019 . The Bagdad open-pit mine, located in west-central Arizona, produces copper cathode and copper concentrate. In addition to copper, the Bagdad mine also produces molybdenum concentrate. The Bagdad mine produced 15 percent of FCX’s North America copper during 2019 . South America Mining. South America mining includes two operating copper mines – Cerro Verde in Peru and El Abra in Chile. These operations include open-pit mining, sulfide ore concentrating, leaching and SX/EW operations. The Cerro Verde open-pit copper mine, located near Arequipa, Peru, produces copper cathode and copper concentrate. In addition to copper, the Cerro Verde mine also produces molybdenum concentrate and silver. The Cerro Verde mine produced 85 percent of FCX’s South America copper during 2019 . Indonesia Mining. Indonesia mining includes PT-FI’s Grasberg minerals district that produces copper concentrate that contains significant quantities of gold and silver. Molybdenum Mines. Molybdenum mines include the wholly owned Henderson underground mine and Climax open-pit mine, both in Colorado. The Henderson and Climax mines produce high-purity, chemical-grade molybdenum concentrate, which is typically further processed into value-added molybdenum chemical products. Rod & Refining. The Rod & Refining segment consists of copper conversion facilities located in North America, and includes a refinery, three rod mills and a specialty copper products facility, which are combined in accordance with segment reporting aggregation guidance. These operations process copper produced at FCX’s North America copper mines and purchased copper into copper cathode, rod and custom copper shapes. At times these operations refine copper and produce copper rod and shapes for customers on a toll basis. Toll arrangements require the tolling customer to deliver appropriate copper-bearing material to FCX’s facilities for processing into a product that is returned to the customer, who pays FCX for processing its material into the specified products. Atlantic Copper Smelting & Refining. Atlantic Copper smelts and refines copper concentrate and markets refined copper and precious metals in slimes. During 2019 , Atlantic Copper purchased 22 percent of its concentrate requirements from FCX’s North America copper mines, 2 percent from FCX’s South America mining operations and 3 percent from FCX’s Indonesia mining operations, with the remainder purchased from unaffiliated third parties. Corporate, Other & Eliminations. Corporate, Other & Eliminations consists of FCX’s other mining, oil and gas operations and other corporate and elimination items. Other mining includes the Miami smelter (a smelter at FCX’s Miami, Arizona, mining operation), Freeport Cobalt, molybdenum conversion facilities in the U.S. and Europe, five non-operating copper mines in North America (Ajo, Bisbee, Tohono, Twin Buttes and Christmas in Arizona) and other mining support entities. Financial Information by Business Segment North America Copper Mines South America Mining Atlantic Corporate, Copper Other Cerro Indonesia Molybdenum Rod & Smelting & Elimi- FCX Morenci Bagdad Other Total Verde Other Total Mining Mines Refining & Refining nations Total Year Ended December 31, 2019 Revenues: Unaffiliated customers $ 143 $ — $ 224 $ 367 $ 2,576 $ 499 $ 3,075 $ 2,713 a $ — $ 4,457 $ 2,063 $ 1,727 b $ 14,402 Intersegment 1,864 763 1,392 4,019 313 — 313 58 344 26 5 (4,765 ) — Production and delivery 1,376 512 1,431 3,319 1,852 474 2,326 2,055 c 299 4,475 1,971 (2,931 ) 11,514 Depreciation, depletion and amortization 171 46 132 349 406 68 474 406 62 9 28 84 1,412 Metals inventory adjustments 1 — 29 30 2 — 2 5 50 — — 92 179 Selling, general and administrative expenses 2 1 1 4 8 — 8 125 — — 20 257 414 Mining exploration and research expenses — — 2 2 — — — — — — — 102 104 Environmental obligations and shutdown costs 1 — — 1 — — — — — — — 104 105 Net gain on sales of assets — — — — — — — — — — — (417 ) d (417 ) Operating income (loss) 456 204 21 681 621 (43 ) 578 180 (67 ) (1 ) 49 (329 ) 1,091 Interest expense, net 3 — 1 4 114 — 114 82 c — — 22 398 620 Provision for (benefit from) income taxes — — — — 250 (11 ) 239 167 c — — 5 99 e 510 Total assets at December 31, 2019 2,880 783 4,326 7,989 8,612 1,676 10,288 16,485 1,798 193 761 3,295 40,809 Capital expenditures 231 150 496 877 232 24 256 1,369 19 5 34 92 2,652 a. Includes charges totaling $155 million associated with an unfavorable Indonesia Supreme Court ruling related to PT-FI export duties. Refer to Note 12 for further discussion. b. Includes revenues from FCX’s molybdenum sales company, which includes sales of molybdenum produced by the Molybdenum mines and by certain of the North America and South America copper mines. c. Includes net charges totaling $28 million in production and delivery costs for an adjustment to the settlement of the historical surface water tax matters with the local regional tax authority in Papua, Indonesia, and $78 million in interest expense and $103 million of tax charges in provision for income taxes associated with PT-FI’s historical contested tax disputes. d. Includes net gains totaling $343 million associated with the sale of FCX’s interest in the lower zone of the Timok exploration project and $59 million for the sale of a portion of Freeport Cobalt. Refer to Note 2 for further discussion. e. Includes tax charges totaling $53 million associated with the sale of FCX’s interest in the lower zone of the Timok exploration project and $49 million primarily to adjust deferred taxes on historical balance sheet items in accordance with tax accounting principles. North America Copper Mines South America Mining Atlantic Corporate, Copper Other Cerro Indonesia Molybdenum Rod & Smelting & Elimi- FCX Morenci Bagdad Other Total Verde Other Total Mining Mines Refining & Refining nations Total Year Ended December 31, 2018 Revenues: Unaffiliated customers $ 90 $ — $ 54 $ 144 $ 2,709 $ 594 $ 3,303 $ 5,446 $ — $ 5,103 $ 2,299 $ 2,333 a $ 18,628 Intersegment 2,051 710 1,789 4,550 352 — 352 113 410 31 3 (5,459 ) — Production and delivery 1,183 483 1,458 3,124 1,887 b,c 478 2,365 1,864 d 289 5,117 2,218 (3,290 ) 11,687 Depreciation, depletion and amortization 176 41 143 360 456 90 546 606 79 11 27 125 e 1,754 Metals inventory adjustments — — 4 4 — — — — — — — — 4 Selling, general and administrative expenses 3 1 2 6 9 — 9 123 — — 21 284 443 Mining exploration and research expenses — — 3 3 — — — — — — — 102 105 Environmental obligations and shutdown costs — — 2 2 — — — — — — — 87 89 Net gain on sales of assets — — — — — — — — — — — (208 ) f (208 ) Operating income (loss) 779 185 231 1,195 709 26 735 2,966 42 6 36 (226 ) 4,754 Interest expense, net 3 — 1 4 429 b — 429 1 — — 25 486 945 Provision for (benefit from) income taxes — — — — 253 b 15 268 755 g — — 1 (33 ) h 991 Total assets at December 31, 2018 2,922 671 3,937 7,530 8,524 1,707 10,231 15,646 1,796 233 773 6,007 42,216 Capital expenditures 216 39 346 601 220 17 237 1,001 9 5 16 102 1,971 a. 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. b. Includes net charges totaling $14 million in production and delivery costs, $370 million in interest expense and $35 million of net tax benefits in provision for income taxes associated with disputed royalties for prior years. c. Includes charges totaling $69 million associated with Cerro Verde’s three-year collective labor agreement. d. Includes net charges of $223 million , primarily associated with surface water tax disputes with the local regional tax authority in Papua, Indonesia, assessments for prior period permit fees with Indonesia’s MOEF, disputed payroll withholding taxes for prior years and other tax settlements, and to write-off certain previously capitalized project costs for the new smelter in Indonesia, partially offset by inventory adjustments. e. Includes $31 million of depreciation expense at Freeport Cobalt from December 2016 through December 2017 that was suspended while it was classified as held for sale. f. Includes net gains totaling $97 million associated with a favorable adjustment to the estimated fair value less costs to sell for Freeport Cobalt and fair value adjustments of $31 million associated with potential contingent consideration related to the 2016 sale of onshore California oil and gas properties. g. Includes tax credits totaling $549 million related to the change in PT-FI’s tax rates in accordance with its IUPK ( $482 million ), U.S, tax reform ( $47 million ) and adjustments to PT-FI’s historical tax positions ( $20 million ). h. Includes net tax credits totaling $76 million , primarily related to the Act and $22 million related to the change in PT-FI’s tax rates in accordance with its IUPK. Refer to Note 11 for further discussion. North America Copper Mines South America Mining Atlantic Corporate, Copper Other Cerro Indonesia Molybdenum Rod & Smelting & Elimi- FCX Morenci Bagdad Other Total Verde Other Total Mining Mines Refining & Refining nations Total Year Ended December 31, 2017 Revenues: Unaffiliated customers $ 228 $ 22 $ 158 $ 408 $ 2,811 $ 498 $ 3,309 $ 4,445 $ — $ 4,456 $ 2,031 $ 1,754 a $ 16,403 Intersegment 1,865 528 1,764 4,157 385 — 385 — 268 26 1 (4,837 ) — Production and delivery 1,043 367 1,333 2,743 1,878 b 366 2,244 1,735 c 226 4,467 1,966 (3,123 ) 10,258 Depreciation, depletion and amortization 178 40 207 425 441 84 525 556 76 10 28 94 1,714 Metals inventory adjustments — — 2 2 — — — — 1 — — 5 8 Selling, general and administrative expenses 2 — 2 4 9 — 9 126 c — — 18 320 477 Mining exploration and research expenses — — 2 2 — — — — — — — 91 93 Environmental obligations and shutdown costs — — — — — — — — — — — 244 244 Net gain on sales of assets — — — — — — — — — — — (81 ) (81 ) Operating income (loss) 870 143 376 1,389 868 48 916 2,028 (35 ) 5 20 (633 ) 3,690 Interest expense, net 3 — 1 4 212 b — 212 4 — — 18 563 801 Provision for (benefit from) income taxes — — — — 436 b 10 446 869 — — 5 (437 ) d 883 Total assets at December 31, 2017 2,861 650 3,591 7,102 8,878 1,702 10,580 10,911 1,858 277 822 5,752 37,302 Capital expenditures 114 12 41 167 103 12 115 875 5 4 41 203 1,410 a. 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. b. Includes net charges totaling $203 million in production and delivery costs, $145 million in interest expense, and $7 million of net tax charges associated with disputed royalties for prior years. c. Includes net charges at PT-FI associated with workforce reductions totaling $120 million in production and delivery costs and $5 million in selling, general and administrative expenses. d. Includes net tax credits of $438 million

GUARANTOR FINANCIAL STATEMENTS

GUARANTOR FINANCIAL STATEMENTS GUARANTOR FINANCIAL STATEMENTS	12 Months Ended
	Dec. 31, 2019
Guarantor Financial Statements [Abstract]
Guarantor Financial Statements	GUARANTOR FINANCIAL STATEMENTS All of the senior notes issued by FCX and discussed in Note 8 are fully and unconditionally guaranteed on a senior basis jointly and severally by FM O&G LLC, as guarantor, which is a 100-percent-owned subsidiary of FM O&G and FCX. The guarantee is an unsecured obligation of the guarantor and ranks equal in right of payment with all existing and future indebtedness of FM O&G LLC, including indebtedness under FCX’s revolving credit facility. The guarantee ranks senior in right of payment with all of FM O&G LLC’s future subordinated obligations and is effectively subordinated in right of payment to any debt of FM O&G LLC’s subsidiaries. The indentures provide that FM O&G LLC’s guarantee obligations may be released or terminated upon: (i) the sale of all or substantially all of the equity interests or assets of FM O&G LLC to a third party that is not a subsidiary or an affiliate of FCX; (ii) FM O&G LLC no longer having any obligations under any FM O&G senior notes or any refinancing thereof and no longer being a co-borrower or guarantor of any obligations of FCX under the revolving credit facility or any other senior debt or, in each case, any refinancing thereof; or (iii) the discharge of FCX’s obligations under the indentures in accordance with their terms. The following condensed consolidating financial information includes information regarding FCX, as issuer, FM O&G LLC, as guarantor, and all other non-guarantor subsidiaries of FCX. Included are the condensed consolidating balance sheets at December 31, 2019 and 2018 , and the related condensed consolidating statements of comprehensive (loss) income and the condensed consolidating statements of cash flows for the three years ended December 31, 2019 , which should be read in conjunction with the other notes in these consolidated financial statements. CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2019 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX ASSETS Current assets $ 154 $ 657 $ 7,778 $ (674 ) $ 7,915 Property, plant, equipment and mine development costs, net 16 1 29,555 12 29,584 Investments in consolidated subsidiaries 17,027 — — (17,027 ) — Other assets 1,604 21 3,137 (1,452 ) 3,310 Total assets $ 18,801 $ 679 $ 40,470 $ (19,141 ) $ 40,809 LIABILITIES AND EQUITY Current liabilities $ 323 $ 42 $ 3,550 $ (706 ) $ 3,209 Long-term debt, less current portion 8,602 7,328 6,292 (12,401 ) 9,821 Deferred income taxes 468 a — 3,742 — 4,210 Environmental and asset retirement obligations, less current portion — 224 3,406 — 3,630 Investments in consolidated subsidiary — 652 10,906 (11,558 ) — Other liabilities 110 3,340 2,535 (3,494 ) 2,491 Total liabilities 9,503 11,586 30,431 (28,159 ) 23,361 Equity: Stockholders’ equity 9,298 (10,907 ) 7,343 3,564 9,298 Noncontrolling interests — — 2,696 5,454 8,150 Total equity 9,298 (10,907 ) 10,039 9,018 17,448 Total liabilities and equity $ 18,801 $ 679 $ 40,470 $ (19,141 ) $ 40,809 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 $ 10,120 $ (585 ) $ 10,464 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 3,474 (635 ) 3,742 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 subsidiary — 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 Year Ended December 31, 2019 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 40 $ 14,362 $ — $ 14,402 Total costs and expenses 25 54 13,244 (12 ) 13,311 Operating (loss) income (25 ) (14 ) 1,118 12 1,091 Interest expense, net (337 ) (322 ) (494 ) 533 (620 ) Net loss on early extinguishment of debt (26 ) — (1 ) — (27 ) Other expense, net (22 ) — (95 ) (21 ) (138 ) (Loss) income before income taxes and equity in affiliated companies’ net earnings (losses) (410 ) (336 ) 528 524 306 Benefit from (provision for) income taxes 58 76 (642 ) (2 ) (510 ) Equity in affiliated companies’ net earnings (losses) 113 (73 ) (321 ) 293 12 Net (loss) income from continuing operations (239 ) (333 ) (435 ) 815 (192 ) Net income from discontinued operations — — 3 — 3 Net (loss) income (239 ) (333 ) (432 ) 815 (189 ) Net (income) loss attributable to noncontrolling interests — — (86 ) 36 (50 ) Net (loss) income attributable to common stockholders $ (239 ) $ (333 ) $ (518 ) $ 851 $ (239 ) Other comprehensive (loss) income (71 ) — (71 ) 71 (71 ) Total comprehensive (loss) income $ (310 ) $ (333 ) $ (589 ) $ 922 $ (310 ) Year Ended December 31, 2018 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 59 $ 18,569 $ — $ 18,628 Total costs and expenses 28 58 13,798 (10 ) 13,874 Operating (loss) income (28 ) 1 4,771 10 4,754 Interest expense, net (388 ) (301 ) (734 ) 478 (945 ) Net gain (loss) on early extinguishment of debt 7 2 (2 ) — 7 Other income (expense), net 477 — 77 (478 ) 76 Income (loss) before income taxes and equity in affiliated companies’ net earnings (losses) 68 (298 ) 4,112 10 3,892 (Provision for) benefit from income taxes (176 ) 61 (874 ) (2 ) (991 ) Equity in affiliated companies’ net earnings (losses) 2,710 10 (219 ) (2,493 ) 8 Net income (loss) from continuing operations 2,602 (227 ) 3,019 (2,485 ) 2,909 Net loss from discontinued operations — — (15 ) — (15 ) Net income (loss) 2,602 (227 ) 3,004 (2,485 ) 2,894 Net income attributable to noncontrolling interests: — — (68 ) (224 ) (292 ) Net income (loss) attributable to common stockholders $ 2,602 $ (227 ) $ 2,936 $ (2,709 ) $ 2,602 Other comprehensive (loss) income (33 ) — (33 ) 33 (33 ) Total comprehensive income (loss) $ 2,569 $ (227 ) $ 2,903 $ (2,676 ) $ 2,569 CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) Year Ended December 31, 2017 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 52 $ 16,351 $ — $ 16,403 Total costs and expenses 39 78 12,586 10 12,713 Operating (loss) income (39 ) (26 ) 3,765 (10 ) 3,690 Interest expense, net (467 ) (227 ) (455 ) 348 (801 ) Net gain (loss) on early extinguishment of debt 22 5 (6 ) — 21 Other income (expense), net 336 — 4 (348 ) (8 ) (Loss) income before income taxes and equity in affiliated companies’ net earnings (losses) (148 ) (248 ) 3,308 (10 ) 2,902 Benefit from (provision for) income taxes 220 (108 ) (998 ) 3 (883 ) Equity in affiliated companies’ net earnings (losses) 1,745 10 (337 ) (1,408 ) 10 Net income (loss) from continuing operations 1,817 (346 ) 1,973 (1,415 ) 2,029 Net income from discontinued operations — — 66 — 66 Net income (loss) 1,817 (346 ) 2,039 (1,415 ) 2,095 Net income attributable to noncontrolling interests: Continuing operations — — (150 ) (124 ) (274 ) Discontinued operations — — (4 ) — (4 ) Net income (loss) attributable to common stockholders $ 1,817 $ (346 ) $ 1,885 $ (1,539 ) $ 1,817 Other comprehensive income (loss) 61 — 61 (61 ) 61 Total comprehensive income (loss) $ 1,878 $ (346 ) $ 1,946 $ (1,600 ) $ 1,878 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Year Ended December 31, 2019 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Net cash provided by (used in) operating activities $ 443 $ (444 ) $ 1,483 $ — $ 1,482 Cash flow from investing activities: Capital expenditures — (4 ) (2,648 ) — (2,652 ) Intercompany loans (1,299 ) — — 1,299 — Dividends from (investments in) consolidated subsidiaries 2,177 — 96 (2,275 ) (2 ) Asset sales and other, net (1 ) 104 448 — 551 Net cash provided by (used in) investing activities 877 100 (2,104 ) (976 ) (2,103 ) Cash flow from financing activities: Proceeds from debt 1,200 — 679 — 1,879 Repayments of debt (2,202 ) — (995 ) — (3,197 ) Intercompany loans — 344 955 (1,299 ) — Cash dividends paid and distributions received, net (291 ) — (2,172 ) 2,255 (208 ) Other, net (27 ) — (23 ) 20 (30 ) Net cash (used in) provided by financing activities (1,320 ) 344 (1,556 ) 976 (1,556 ) Net decrease in cash, cash equivalents, restricted cash and restricted cash equivalents — — (2,177 ) — (2,177 ) 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 year $ — $ — $ 2,278 $ — $ 2,278 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Year Ended December 31, 2018 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Net cash (used in) provided by operating activities $ (40 ) $ (487 ) $ 4,390 $ — $ 3,863 Cash flow from investing activities: Capital expenditures (2 ) — (1,969 ) — (1,971 ) Acquisition of PT Rio Tinto Indonesia — — (3,500 ) — (3,500 ) Intercompany loans (832 ) — — 832 — Dividends from (investments in) consolidated subsidiaries 2,475 — 84 (2,559 ) — Asset sales and other, net 460 6 (13 ) — 453 Net cash provided by (used in) investing activities 2,101 6 (5,398 ) (1,727 ) (5,018 ) Cash flow from financing activities: Proceeds from debt — — 632 — 632 Repayments of debt (1,826 ) (53 ) (838 ) — (2,717 ) Intercompany loans — 526 306 (832 ) — Proceeds from sale of PT Freeport Indonesia shares — — 3,710 (210 ) 3,500 Cash dividends paid and distributions received, net (217 ) — (3,032 ) 2,753 (496 ) Other, net (18 ) — (17 ) 16 (19 ) Net cash (used in) provided by financing activities (2,061 ) 473 761 1,727 900 Net decrease in cash, cash equivalents, restricted cash and restricted cash equivalents — (8 ) (247 ) — (255 ) Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year — 8 4,702 — 4,710 Cash, cash equivalents, restricted cash and restricted cash equivalents at end of year $ — $ — $ 4,455 $ — $ 4,455 Year Ended December 31, 2017 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Net cash (used in) provided by operating activities $ (156 ) $ (467 ) $ 5,289 $ — $ 4,666 Cash flow from investing activities: Capital expenditures — (25 ) (1,385 ) — (1,410 ) Intercompany loans (777 ) — — 777 — Dividends from (investments in) consolidated subsidiaries 3,226 (15 ) 120 (3,331 ) — Asset sales and other, net — 57 32 — 89 Net cash provided by (used in) investing activities 2,449 17 (1,233 ) (2,554 ) (1,321 ) Cash flow from financing activities: Proceeds from debt — — 955 — 955 Repayments of debt (2,281 ) (205 ) (1,326 ) — (3,812 ) Intercompany loans — 663 114 (777 ) — Cash dividends paid and distributions received, net (2 ) — (3,440 ) 3,266 (176 ) Other, net (10 ) (10 ) (67 ) 65 (22 ) Net cash (used in) provided by financing activities (2,293 ) 448 (3,764 ) 2,554 (3,055 ) Net (decrease) increase in cash, cash equivalents, restricted cash and restricted cash equivalents — (2 ) 292 — 290 Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year — 10 4,410 — 4,420 Cash, cash equivalents, restricted cash and restricted cash equivalents at end of year $ — $ 8 $ 4,702 $ — $ 4,710

SUBSEQUENT EVENTS (Notes)

SUBSEQUENT EVENTS (Notes)	12 Months Ended
	Dec. 31, 2019
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS FCX evaluated events after December 31, 2019 , and through the date the financial statements were issued, and determined any events or transactions occurring during this period that would require recognition or disclosure are appropriately addressed in these financial statements.

QUARTERLY FINANCIAL INFORMATION

QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Notes)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information (Unaudited)	QUARTERLY FINANCIAL INFORMATION (UNAUDITED) First Quarter Second Quarter Third Quarter Fourth Quarter Year 2019 Revenues $ 3,792 $ 3,546 $ 3,153 $ 3,911 $ 14,402 Operating income (loss) 321 33 (38 ) 775 1,091 Net income (loss) from continuing operations 75 (74 ) (235 ) 42 (192 ) Net income from discontinued operations 1 — 1 1 3 Net income (loss) 76 (74 ) (234 ) 43 (189 ) Net (income) loss attributable to noncontrolling interests (45 ) 2 27 (34 ) (50 ) Net income (loss) attributable to common stockholders 31 (72 ) (207 ) 9 (239 ) Net income (loss) per share attributable to common stockholders: Basic $ 0.02 $ (0.05 ) $ (0.15 ) $ — $ (0.17 ) Diluted $ 0.02 $ (0.05 ) $ (0.15 ) $ — $ (0.17 ) Weighted-average shares outstanding: Basic 1,451 1,451 1,452 1,452 1,451 Diluted 1,457 1,451 1,452 1,457 1,451 Following summarizes significant items included in FCX’s net income (loss) attributable to common stockholders for the 2019 quarters: • Charges at PT-FI totaled $460 million ( $379 million to net loss attributable to common stockholders or $0.26 per share), consisting of $266 million in the fourth quarter primarily associated with historical contested tax disputes ( $78 million to interest expense, net and $188 million to other expense, net), $166 million in the third quarter recorded in revenues, primarily associated with an unfavorable Indonesia Supreme Court ruling related to PT-FI export duties, and $28 million in the second quarter to production and delivery costs for an adjustment to the settlement of the historical surface water tax disputes with the local regional tax authority in Papua, Indonesia. • Net gains on sales of assets for the year totaled $417 million ( $339 million to net loss attributable to common stockholders or $0.23 per share), primarily associated with the sales of FCX’s interest in the lower zone of the Timok exploration project in Serbia and a portion of Freeport Cobalt, most of which was recorded in the fourth quarter. Refer to Note 2 for further discussion. • Metals inventory adjustments for the year totaled $179 million ( $144 million to net loss attributable to common stockholders or $0.10 per share) and included $59 million in the second quarter, $41 million in the third quarter and $79 million in the fourth quarter. Refer to Note 4 for further discussion. • Net adjustments to environmental obligations and related litigation reserves totaled $68 million to operating income and net loss attributable to common stockholders ( $0.05 per share) for the year, most of which was recorded in the first quarter ( $35 million ) and the third quarter ( $19 million ). Of the charges in the third quarter, $15 million were recorded to production and delivery costs. • After-tax net losses on early extinguishment of debt totaled $26 million ( $0.02 per share), most of which was recorded in the third quarter. Refer to Note 8 for further discussion. First Quarter Second Quarter Third Quarter Fourth Quarter Year 2018 Revenues $ 4,868 $ 5,168 $ 4,908 $ 3,684 $ 18,628 Operating income 1,459 1,664 1,315 316 4,754 Net income from continuing operations 828 1,039 668 374 2,909 Net (loss) income from discontinued operations (11 ) (4 ) (4 ) 4 (15 ) Net income 817 1,035 664 378 2,894 Net (income) loss attributable to noncontrolling interests (125 ) (166 ) (108 ) 107 (292 ) Net income attributable to common stockholders 692 869 556 485 2,602 Basic net income (loss) per share attributable to common stockholders: Continuing operations $ 0.48 $ 0.60 $ 0.38 $ 0.33 $ 1.80 Discontinued operations (0.01 ) — — — (0.01 ) $ 0.47 $ 0.60 $ 0.38 $ 0.33 $ 1.79 Diluted net income (loss) per share attributable to common stockholders: Continuing operations $ 0.48 $ 0.59 $ 0.38 $ 0.33 $ 1.79 Discontinued operations (0.01 ) — — — (0.01 ) $ 0.47 $ 0.59 $ 0.38 $ 0.33 $ 1.78 Weighted-average shares outstanding: Basic 1,449 1,449 1,450 1,450 1,449 Diluted 1,458 1,458 1,458 1,457 1,458 Following summarizes significant items included in FCX’s net income attributable to common stockholders for the 2018 quarters: • Net charges at Cerro Verde related to Peru government claims for disputed royalties totaled $195 million to net income attributable to common stockholders or $0.13 per share for the year (consisting of $14 million to production and delivery costs, $370 million to interest expense and $22 million to other expense, net), most of which was recorded in the fourth quarter. Refer to Note 12 for further discussion. • Net charges at PT-FI totaled $223 million ( $110 million to net income attributable to common stockholders or $0.08 per share) consisting of charges to production and delivery of $69 million for surface water tax disputes with the local regional tax authority in Papua, Indonesia, $32 million for assessments of prior period permit fees with the MOEF, $72 million for disputed payroll withholding taxes for prior years and other tax settlements and $62 million to write-off certain previously capitalized project costs for the new smelter in Indonesia in fourth quarter, partly offset by inventory adjustments of $12 million recorded in second quarter. The fourth quarter also included $43 million of favorable inventory adjustments at PT-FI related to prior 2018 quarterly periods. • Net charges at Cerro Verde related to its new three-year collective bargaining agreement totaled $69 million ( $22 million to net income attributable to common stockholders or $0.02 per share) for the year, which was recorded in the third quarter. • Net adjustments to environmental obligations and related litigation reserves totaled $57 million to operating income and net income attributable to common stockholders ( $0.04 per share) for the year, most of which was recorded in the second quarter. • Net gains on sales of assets for the year totaled $208 million to operating income and net income attributable to common stockholders ( $0.14 per share), mostly associated with adjustments to assets no longer classified as held for sale, adjustments to the fair value of contingent consideration related to the 2016 sale of onshore California oil and gas properties (which will continue to be adjusted through December 31, 2020) and the sale of Port Carteret (assets held for sale), and included $11 million in the first quarter, $45 million in the second quarter, $70 million in the third quarter and $82 million in the fourth quarter. Refer to Note 2 for further discussion of asset dispositions. • Other net charges for the year totaled $50 million ( $30 million to net income attributable to common stockholders or $0.02 per share), including prior period depreciation expense at Freeport Cobalt that was suspended while it was classified as held for sale ( $48 million in fourth-quarter and $31 million for the year). • Net tax credits for the year totaled $632 million ( $574 million net of noncontrolling interest or $0.39 per share), primarily associated with a reduction in PT-FI’s statutory rates in accordance with the IUPK ( $504 million ) and benefits associated with the Act ( $123 million ), most of which was recorded in the fourth quarter. Refer to Note 11 for further discussion.

SUPPLEMENTARY MINERAL RESERVE I

SUPPLEMENTARY MINERAL RESERVE INFORMATION (UNAUDITED) SUPPLEMENTARY MINERAL RESERVE INFORMATION	12 Months Ended
	Dec. 31, 2019
Supplementary Mineral Reserve Information [Abstract]
Estimated Recoverable Proven and Probable Reserves by Location	SUPPLEMENTARY MINERAL RESERVE INFORMATION (UNAUDITED) Recoverable proven and probable reserves have been estimated as of December 31, 2019 , in accordance with Industry Guide 7 as required by the Securities Exchange Act of 1934. FCX’s proven and probable reserves may not be comparable to similar information regarding mineral reserves disclosed in accordance with the guidance in other countries. Proven and probable reserves were determined by the use of mapping, drilling, sampling, assaying and evaluation methods generally applied in the mining industry, as more fully discussed below. The term “reserve,” as used in the reserve data presented here, means that part of a mineral deposit that can be economically and legally extracted or produced at the time of the reserve determination. The term “proven reserves” means reserves for which (i) quantity is computed from dimensions revealed in outcrops, trenches, workings or drill holes; (ii) grade and/or quality are computed from the results of detailed sampling; and (iii) the sites for inspection, sampling and measurements are spaced so closely and the geologic character is sufficiently defined that size, shape, depth and mineral content of reserves are well established. The term “probable reserves” means reserves for which quantity and grade are computed from information similar to that used for proven reserves but the sites for sampling are farther apart or are otherwise less adequately spaced. The degree of assurance, although lower than that for proven reserves, is high enough to assume continuity between points of observation. FCX’s reserve estimates are based on the latest available geological and geotechnical studies. FCX conducts ongoing studies of its ore bodies to optimize economic values and to manage risk. FCX revises its mine plans and estimates of proven and probable mineral reserves as required in accordance with the latest available studies. Estimated recoverable proven and probable reserves at December 31, 2019 , were determined using metals price assumptions of $2.50 per pound for copper, $1,200 per ounce for gold and $10 per pound for molybdenum. For the three-year period ended December 31, 2019 , LME copper settlement prices averaged $2.83 per pound, LBMA gold prices averaged $1,306 per ounce and the weekly average price for molybdenum quoted by Metals Week averaged $10.50 per pound. The recoverable proven and probable reserves presented in the table below represent the estimated metal quantities from which FCX expects to be paid after application of estimated metallurgical recovery rates and smelter recovery rates, where applicable. Recoverable reserves are that part of a mineral deposit that FCX estimates can be economically and legally extracted or produced at the time of the reserve determination. Estimated Recoverable Proven and Probable Mineral Reserves at December 31, 2019 Copper a (billion pounds) Gold (million ounces) Molybdenum (billion pounds) North America 47.2 0.5 2.87 South America 33.2 — 0.71 Indonesia b 35.6 29.1 — Consolidated c 116.0 29.6 3.58 Net equity interest d 83.4 16.1 3.25 a. Estimated consolidated recoverable copper reserves included 1.7 billion pounds in leach stockpiles and 0.5 billion pounds in mill stockpiles. b. Reflects estimates of minerals that can be recovered through 2041. Refer to Note 13 for discussion of PT-FI’s IUPK. c. Consolidated reserves represent estimated metal quantities after reduction for joint venture partner interests at the Morenci mine in North America (refer to Note 3 for further discussion). Excluded from the table above were FCX’s estimated recoverable proven and probable reserves of 375 million ounces of silver, which were determined using $15 per ounce. d. Net equity interest reserves represent estimated consolidated metal quantities further reduced for noncontrolling interest ownership (refer to Note 3 for further discussion of FCX’s ownership in subsidiaries). FCX's net equity interest for estimated metal quantities in Indonesia reflects approximately 81 percent from 2020 through 2022 and 48.76 percent from 2023 through 2041. Excluded from the table above were FCX’s estimated recoverable proven and probable reserves of 251 million ounces of silver. Estimated Recoverable Proven and Probable Mineral Reserves at December 31, 2019 Average Ore Grade Per Metric Ton a Recoverable Proven and Probable Reserves b Ore a (million metric tons) Copper (%) Gold (grams) Molybdenum (%) Copper (billion pounds) Gold (million ounces) Molybdenum (billion pounds) North America Developed and producing: Morenci 4,435 0.23 — — c 14.5 — 0.19 Sierrita 2,960 0.23 — c 0.02 12.5 0.1 1.23 Bagdad 2,535 0.32 — c 0.02 15.3 0.2 0.79 Safford, including d 812 0.45 — — 5.9 — — Chino, including Cobre 324 0.45 0.03 — c 2.7 0.3 0.01 Climax 160 — — 0.15 — — 0.49 Henderson 67 — — 0.17 — — 0.22 Tyrone 49 0.25 — — 0.3 — — Miami — — — — 0.1 — — South America Developed and producing: Cerro Verde 4,265 0.35 — 0.01 29.3 — 0.71 El Abra 717 0.41 — — 3.9 — — Indonesia e Developed and producing: Grasberg Block Cave 959 0.97 0.73 — 17.2 14.2 — Deep Mill Level Zone 429 0.92 0.75 — 7.6 8.2 — Big Gossan 55 2.33 0.97 — 2.6 1.2 — Deep Ore Zone 29 0.50 0.48 — 0.3 0.4 — Undeveloped: Kucing Liar 340 1.25 1.04 — 8.0 5.1 — Total 100% basis 18,137 f 120.0 f 29.6 f 3.64 Consolidated g 116.0 29.6 3.58 FCX’s equity share h 83.4 16.1 3.25 a. Excludes material contained in stockpiles. b. Includes estimated recoverable metals contained in stockpiles. c. Amounts not shown because of rounding. d. The Lone Star leachable ores project is under development. e. Estimated recoverable proven and probable reserves from Indonesia reflect estimates of minerals that can be recovered through 2041. Refer to Note 13 for discussion of PT-FI’s IUPK. f. Does not foot because of rounding. g. Consolidated reserves represent estimated metal quantities after reduction for joint venture partner interests at the Morenci mine in North America. Refer to Note 3 for further discussion. h. Net equity interest reserves represent estimated consolidated metal quantities further reduced for noncontrolling interest ownership. FCX's net equity interest for estimated metal quantities in Indonesia reflects an approximate 81 percent from 2020 through 2022 and 48.76 percent from 2023 through 2041. Refer to Note 3 for further discussion of FCX’s ownership in subsidiaries.

SCHEDULE II - VALUATION AND QUA

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Notes)	12 Months Ended
	Dec. 31, 2019
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]	Additions (Deductions) Balance at Charged to Charged to Other Balance at Beginning of Costs and Other Additions End of Year Expense Accounts (Deductions) Year Reserves and allowances deducted from asset accounts: Valuation allowance for deferred tax assets Year Ended December 31, 2019 $ 4,507 $ 50 a $ 19 b $ — $ 4,576 Year Ended December 31, 2018 4,575 (345 ) c 8 b 269 d 4,507 Year Ended December 31, 2017 6,058 (1,484 ) e 1 b — 4,575 Reserves for non-income taxes: Year Ended December 31, 2019 $ 62 $ — $ — $ (4 ) f $ 58 Year Ended December 31, 2018 58 7 (1 ) (2 ) f 62 Year Ended December 31, 2017 64 (2 ) — (4 ) f 58 a. Primarily relates to a $208 million increase in United States (U.S.) federal deferred tax assets for which no benefit is expected to be realized, partly offset by a $98 million decrease in U.S. foreign tax credits associated with expirations and prior year adjustments, and a $44 million decrease in U.S. federal and state net operating loss carryforwards. b. Relates to a valuation allowance for tax benefits primarily associated with actuarial losses for U.S. defined benefit plans included in other comprehensive (loss) income. c. Primarily relates to a $315 million decrease in U.S. foreign tax credits associated with expirations and 2017 U.S. tax reform adjustments, and a decrease of $45 million in U.S. federal net operating losses associated with 2018 usage and 2017 U.S tax reform. d. Primarily relates to a $244 million increase in foreign net operating losses for which no benefit is expected to be realized resulting from PT Freeport Indonesia’s acquisition of PT Rio Tinto Indonesia. e. Relates to a $1.1 billion decrease associated with a reduction in the corporate income tax rate applicable to U.S. federal deferred tax assets and $371 million for the reversal of valuation allowances on U.S. federal alternative minimum tax credits. f. Represents amounts paid or adjustments to reserves based on revised estimates.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation. The consolidated financial statements of Freeport-McMoRan Inc. (FCX) include the accounts of those subsidiaries where it directly or indirectly has more than 50 percent of the voting rights and/or has control over the subsidiary. As of December 31, 2019, the most significant entities that FCX consolidates include its 48.76 percent -owned subsidiary PT Freeport Indonesia (PT-FI), and the following wholly owned subsidiaries: Freeport Minerals Corporation (FMC) and Atlantic Copper, S.L.U. (Atlantic Copper). Refer to Notes 2 and 3 for further discussion, including FCX’s conclusion to consolidate PT-FI. FCX’s unincorporated joint ventures are reflected using the proportionate consolidation method (refer to Note 3 for further discussion). Investments in unconsolidated companies owned 20 percent or more are recorded using the equity method. Investments in unconsolidated companies owned less than 20 percent , and for which FCX does not exercise significant influence, are recorded at (i) fair value for those that have a readily determinable fair value or (ii) cost, less any impairment, for those that do not have a readily determinable fair value. All significant intercompany transactions have been eliminated. Dollar amounts in tables are stated in millions, except per share amounts.
Business Segments	Business Segments. FCX has organized its mining operations into four primary divisions – North America copper mines, South America mining, Indonesia mining and Molybdenum mines, and operating segments that meet certain thresholds are reportable segments. FCX’s reportable segments include the Morenci, Bagdad, Cerro Verde and Grasberg (Indonesia mining) copper mines, the Rod & Refining operations and Atlantic Copper Smelting & Refining. Refer to Note 16 for further discussion.
Use of Estimates	Use of Estimates. The preparation of FCX’s financial statements in conformity with accounting principles generally accepted in the United States (U.S.) requires management to make estimates and assumptions that affect the amounts reported in these financial statements and accompanying notes. The more significant areas requiring the use of management estimates include minerals reserve estimation; asset lives for depreciation, depletion and amortization; environmental obligations; asset retirement obligations; estimates of recoverable copper in mill and leach stockpiles; deferred taxes and valuation allowances; reserves for contingencies and litigation; asset acquisitions and impairment, including estimates used to derive future cash flows associated with those assets; pension benefits; and valuation of derivative instruments. Actual results could differ from those estimates.
Functional Currency	Functional Currency. The functional currency for the majority of FCX’s foreign operations is the U.S. dollar. For foreign subsidiaries whose functional currency is the U.S. dollar, monetary assets and liabilities denominated in the local currency are translated at current exchange rates, and non-monetary assets and liabilities, such as inventories, property, plant, equipment and mine development costs, are translated at historical rates. Gains and losses resulting from translation of such account balances are included in other (expense) income, net, as are gains and losses from foreign currency transactions. Foreign currency gains (losses) totaled $24 million in 2019 , $14 million in 2018 and $(5) million in 2017 .
Cash Equivalents	Cash Equivalents. Highly liquid investments purchased with maturities of three months or less are considered cash equivalents.
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	Restricted Cash and Restricted Cash Equivalents. FCX’s restricted cash and restricted cash equivalents are primarily related to PT-FI’s commitment for the development of a new smelter in Indonesia; and guarantees and commitments for certain mine closure and reclamation obligations, and customs duty taxes. Restricted cash and restricted cash equivalents are classified as a current or long-term asset based on the timing and nature of when or how the cash is expected to be used or when the restrictions are expected to lapse. Restricted cash and restricted cash equivalents are comprised of time deposits and money market funds.
Inventories	Inventories. Inventories include materials and supplies, mill and leach stockpiles, and product inventories. Inventories are stated at the lower of weighted-average cost or net realizable value (NRV). Mill and Leach Stockpiles. Mill and leach stockpiles are work-in-process inventories for FCX’s mining operations. Mill and leach stockpiles contain ore that has been extracted from an ore body and is available for metal recovery. Mill stockpiles contain sulfide ores, and recovery of metal is through milling, concentrating and smelting and refining or, alternatively, by concentrate leaching. Leach stockpiles contain oxide ores and certain secondary sulfide ores and recovery of metal is through exposure to acidic solutions that dissolve contained copper and deliver it in solution to extraction processing facilities ( i.e., solution extraction and electrowinning (SX/EW)). The recorded cost of mill and leach stockpiles includes mining and haulage costs incurred to deliver ore to stockpiles, depreciation, depletion, amortization and site overhead costs. Material is removed from the stockpiles at a weighted-average cost per pound. Because it is impracticable to determine copper contained in mill and leach stockpiles by physical count, reasonable estimation methods are employed. The quantity of material delivered to mill and leach stockpiles is based on surveyed volumes of mined material and daily production records. Sampling and assaying of blasthole cuttings determine the estimated copper grade of the material delivered to mill and leach stockpiles. Expected copper recovery rates for mill stockpiles are determined by metallurgical testing. The recoverable copper in mill stockpiles, once entered into the production process, can be produced into copper concentrate almost immediately. Expected copper recovery rates for leach stockpiles are determined using small-scale laboratory tests, small- to large-scale column testing (which simulates the production process), historical trends and other factors, including mineralogy of the ore and rock type. Total copper recovery in leach stockpiles can vary significantly from a low percentage to more than 90 percent depending on several variables, including processing methodology, processing variables, mineralogy and particle size of the rock. For newly placed material on active stockpiles, as much as 80 percent of the total copper recovery may occur during the first year, and the remaining copper may be recovered over many years. Processes and recovery rates for mill and leach stockpiles are monitored regularly, and recovery rate estimates are adjusted periodically as additional information becomes available and as related technology changes. Adjustments to recovery rates will typically result in a future impact to the value of the material removed from the stockpiles at a revised weighted-average cost per pound of recoverable copper. Product. Product inventories include raw materials, work-in-process and finished goods. Raw materials are primarily unprocessed concentrate at Atlantic Copper’s smelting and refining operations. Work-in-process inventories are primarily copper concentrate at various stages of conversion into anode and cathode at Atlantic Copper’s operations. Atlantic Copper’s in-process inventories are valued at the weighted-average cost of the material fed to the smelting and refining process plus in-process conversion costs. Finished goods for mining operations represent salable products ( e.g. , copper and molybdenum concentrate, copper anode, copper cathode, copper rod, copper wire, molybdenum oxide, and high-purity molybdenum chemicals and other metallurgical products). Finished goods are valued based on the weighted-average cost of source material plus applicable conversion costs relating to associated process facilities. Costs of finished goods and work-in-process ( i.e. , not raw materials) inventories include labor and benefits, supplies, energy, depreciation, depletion, amortization, site overhead costs and other necessary costs associated with the extraction and processing of ore, such as mining, milling, smelting, leaching, SX/EW, refining, roasting and chemical processing. Corporate general and administrative costs are not included in inventory costs.
Property, Plant, Equipment and Mine Development Costs	Property, Plant, Equipment and Mine Development Costs. Property, plant, equipment and mine development costs are carried at cost. Mineral exploration costs, as well as drilling and other costs incurred for the purpose of converting mineral resources to proven and probable reserves or identifying new mineral resources at development or production stage properties, are charged to expense as incurred. Development costs are capitalized beginning after proven and probable mineral reserves have been established. Development costs include costs incurred resulting from mine pre-production activities undertaken to gain access to proven and probable reserves, including shafts, adits, drifts, ramps, permanent excavations, infrastructure and removal of overburden. 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 sustained 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. Additionally, interest expense allocable to the cost of developing mining properties and to constructing new facilities is capitalized until assets are ready for their intended use. Expenditures for replacements and improvements are capitalized. Costs related to periodic scheduled maintenance ( i.e. , turnarounds) are charged to expense as incurred. Depreciation for mining and milling life-of-mine assets, infrastructure and other common costs is determined using the unit-of-production (UOP) method based on total estimated recoverable proven and probable copper reserves (for primary copper mines) and proven and probable molybdenum reserves (for primary molybdenum mines). Development costs and acquisition costs for proven and probable mineral reserves that relate to a specific ore body are depreciated using the UOP method based on estimated recoverable proven and probable mineral reserves for the ore body benefited. Depreciation, depletion and amortization using the UOP method is recorded upon extraction of the recoverable copper or molybdenum from the ore body, at which time it is allocated to inventory cost and then included as a component of cost of goods sold. Other assets are depreciated on a straight-line basis over estimated useful lives for the related assets of up to 50 years for buildings and 3 to 50 years for machinery and equipment, and mobile equipment. Included in property, plant, equipment and mine development costs is value beyond proven and probable mineral reserves (VBPP), primarily resulting from FCX’s acquisition of FMC in 2007. The concept of VBPP may be interpreted differently by different mining companies. FCX’s VBPP is attributable to (i) mineralized material, which includes measured and indicated amounts, that FCX believes could be brought into production with the establishment or modification of required permits and should market conditions and technical assessments warrant, (ii) inferred mineral resources and (iii) exploration potential. Carrying amounts assigned to VBPP are not charged to expense until the VBPP becomes associated with additional proven and probable mineral reserves and the reserves are produced or the VBPP is determined to be impaired. Additions to proven and probable mineral reserves for properties with VBPP will carry with them the value assigned to VBPP at the date acquired, less any impairment amounts. Refer to Note 5 for further discussion.
Impairment of Long-Lived Mining Assets	Impairment of Long-Lived Mining Assets. FCX assesses the carrying values of its long-lived mining assets for impairment when events or changes in circumstances indicate that the related carrying amounts of such assets may not be recoverable. In evaluating long-lived mining assets for recoverability, estimates of pre-tax undiscounted future cash flows of FCX’s individual mines are used. An impairment is considered to exist if total estimated undiscounted future cash flows are less than the carrying amount of the asset. Once it is determined that an impairment exists, an impairment loss is measured as the amount by which the asset carrying value exceeds its fair value. The estimated undiscounted cash flows used to assess recoverability of long-lived assets and to measure the fair value of FCX’s mining operations are derived from current business plans, which are developed using near-term price forecasts reflective of the current price environment and management’s projections for long-term average metal prices. In addition to near- and long-term metal price assumptions, other key assumptions include estimates of commodity-based and other input costs; proven and probable mineral reserves estimates, including the timing and cost to develop and produce the reserves; VBPP estimates; and the use of appropriate discount rates in the measurement of fair value. FCX believes its estimates and models used to determine fair value are similar to what a market participant would use. As quoted market prices are unavailable for FCX’s individual mining operations, fair value is determined through the use of after-tax discounted estimated future cash flows ( i.e. , Level 3 measurement).
Deferred Mining Costs	Deferred Mining Costs. Stripping costs ( i.e. , the costs of removing overburden and waste material to access mineral deposits) incurred during the production phase of an open-pit mine are considered variable production costs and are included as a component of inventory produced during the period in which stripping costs are incurred. Major development expenditures, including stripping costs to prepare unique and identifiable areas outside the current mining area for future production that are considered to be pre-production mine development, are capitalized and amortized using the UOP method based on estimated recoverable proven and probable reserves for the ore body benefited. However, where a second or subsequent pit or major expansion is considered to be a continuation of existing mining activities, stripping costs are accounted for as a current production cost and a component of the associated inventory.
Environmental Expenditures	Environmental Obligations. Environmental expenditures are charged to expense or capitalized, depending upon their future economic benefits. Accruals for such expenditures are recorded when it is probable that obligations have been incurred and the costs can be reasonably estimated. Environmental obligations attributed to the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (CERCLA) or analogous state programs are considered probable when a claim is asserted, or is probable of assertion, and FCX, or any of its subsidiaries, have been associated with the site. Other environmental remediation obligations are considered probable based on specific facts and circumstances. FCX’s estimates of these costs are based on an evaluation of various factors, including currently available facts, existing technology, presently enacted laws and regulations, remediation experience, whether or not FCX is a potentially responsible party (PRP) and the ability of other PRPs to pay their allocated portions. With the exception of those obligations assumed in the acquisition of FMC that were initially recorded at estimated fair values (refer to Note 12 for further discussion), environmental obligations are recorded on an undiscounted basis. Where the available information is sufficient to estimate the amount of the obligation, that estimate has been used. Where the information is only sufficient to establish a range of probable liability and no point within the range is more likely than any other, the lower end of the range has been used. Possible recoveries of some of these costs from other parties are not recognized in the consolidated financial statements until they become probable. Legal costs associated with environmental remediation (such as fees to third-party legal firms for work relating to determining the extent and type of remedial actions and the allocation of costs among PRPs) are included as part of the estimated obligation. Environmental obligations assumed in the acquisition of FMC, which were initially recorded at fair value and estimated on a discounted basis, are accreted to full value over time through charges to interest expense. Adjustments arising from changes in amounts and timing of estimated costs and settlements may result in increases and decreases in these obligations and are calculated in the same manner as they were initially estimated. Unless these adjustments qualify for capitalization, changes in environmental obligations are charged to operating income when they occur. FCX performs a comprehensive review of its environmental obligations annually and also reviews changes in facts and circumstances associated with these obligations at least quarterly.
Asset Retirement Obligations	Asset Retirement Obligations. FCX records the fair value of estimated asset retirement obligations (AROs) associated with tangible long-lived assets in the period incurred. Retirement obligations associated with long-lived assets are those for which there is a legal obligation to settle under existing or enacted law, statute, written or oral contract or by legal construction. These obligations, which are initially estimated based on discounted cash flow estimates, are accreted to full value over time through charges to cost of sales. In addition, asset retirement costs (ARCs) are capitalized as part of the related asset’s carrying value and are depreciated over the asset’s respective useful life. For mining operations, reclamation costs for disturbances are recognized as an ARO and as a related ARC in the period of the disturbance and depreciated primarily on a UOP basis. FCX’s AROs for mining operations consist primarily of costs associated with mine reclamation and closure activities. These activities, which are site specific, generally include costs for earthwork, revegetation, water treatment and demolition. For oil and gas properties, the fair value of the legal obligation is recognized as an ARO and as a related ARC in the period in which the well is drilled or acquired and is amortized on a UOP basis together with other capitalized costs. Substantially all of FCX’s oil and gas leases require that, upon termination of economic production, the working interest owners plug and abandon non-producing wellbores; remove platforms, tanks, production equipment and flow lines; and restore the wellsite. For non-operating properties without reserves, changes to the ARO are recorded in earnings.
Revenue Recognition	Revenue Recognition. FCX recognizes revenue for all of its products upon transfer of control in an amount that reflects the consideration it expects to receive in exchange for those products. Transfer of control is in accordance with the terms of customer contracts, which is generally upon shipment or delivery of the product. While payment terms vary by contract, terms generally include payment to be made within 30 days, but not longer than 60 days. Certain of FCX’s concentrate and cathode sales contracts also provide for provisional pricing, which is accounted for as an embedded derivative (refer to Note 14 for further discussion). For provisionally priced sales, 90 percent to 100 percent of the provisional payment is made upon shipment or within 20 days, and final balances are settled in a contractually specified future month (generally one to four months from the shipment date) based on quoted monthly average copper settlement prices on the London Metal Exchange (LME) or the Commodity Exchange Inc. (COMEX), a division of the New York Mercantile Exchange, and quoted monthly average London Bullion Market Association (LBMA) gold settlement prices. FCX’s product revenues are also recorded net of treatment charges, royalties and export duties. Moreover, because a portion of the metals contained in copper concentrate is unrecoverable as a result of the smelting process, FCX’s revenues from concentrate sales are also recorded net of allowances based on the quantity and value of these unrecoverable metals. These allowances are a negotiated term of FCX’s contracts and vary by customer. Treatment and refining charges represent payments or price adjustments to smelters and refiners that are generally fixed. Refer to Note 16 for a summary of revenue by product type. Gold sales are priced according to individual contract terms, generally the average LBMA gold settlement price for a specified month near the month of shipment. The majority of FCX’s molybdenum sales are priced based on the average published Metals Week price, plus conversion premiums for products that undergo additional processing, such as ferromolybdenum and molybdenum chemical products, for the month prior to the month of shipment.
Stock-Based Compensation	Stock-Based Compensation. Compensation costs for share-based payments to employees are measured at fair value and charged to expense over the requisite service period for awards that are expected to vest. The fair value of stock options is determined using the Black-Scholes-Merton option valuation model. The fair value for stock-settled restricted stock units (RSUs) is based on FCX’s stock price on the date of grant. Shares of common stock are issued at the vesting date for stock-settled RSUs. The fair value of performance share units (PSUs) are determined using FCX’s stock price and a Monte-Carlo simulation model. The fair value for liability-classified awards ( i.e. , cash-settled RSUs) is remeasured each reporting period using FCX’s stock price. FCX has elected to recognize compensation costs for stock option awards that vest over several years on a straight-line basis over the vesting period, and for RSUs on the graded-vesting method over the vesting period. Refer to Note 10 for further discussion.
Earnings Per Share	Earnings Per Share. FCX calculates its basic net (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 (after deducting accumulated dividends and undistributed earnings to participating securities) by the weighted-average shares of common stock outstanding during the year. 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 for the years ended December 31 follow: 2019 2018 2017 Net (loss) income from continuing operations $ (192 ) $ 2,909 $ 2,029 Net income from continuing operations attributable to noncontrolling interests (50 ) (292 ) (274 ) Accumulated dividends and undistributed earnings allocated to participating securities (3 ) (4 ) (4 ) Net (loss) income from continuing operations attributable to common stockholders (245 ) 2,613 1,751 Net income (loss) from discontinued operations 3 (15 ) 66 Net income from discontinued operations attributable to noncontrolling interests — — (4 ) Net income (loss) from discontinued operations attributable to common stockholders 3 (15 ) 62 Net (loss) income attributable to common stockholders $ (242 ) $ 2,598 $ 1,813 Basic weighted-average shares of common stock outstanding (millions) 1,451 1,449 1,447 Add shares issuable upon exercise or vesting of dilutive stock options and RSUs (millions) — a 9 a 7 Diluted weighted-average shares of common stock outstanding (millions) 1,451 1,458 1,454 Basic net (loss) income per share attributable to common stockholders: Continuing operations $ (0.17 ) $ 1.80 $ 1.21 Discontinued operations — (0.01 ) 0.04 $ (0.17 ) $ 1.79 $ 1.25 Diluted net (loss) income per share attributable to common stockholders: Continuing operations $ (0.17 ) $ 1.79 $ 1.21 Discontinued operations — (0.01 ) 0.04 $ (0.17 ) $ 1.78 $ 1.25 a. Excludes approximately 11 million shares of common stock in 2019 and 1 million in 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 year are excluded from the computation of diluted net (loss) income per share of common stock. Stock options for 42 million shares of common stock in 2019 , 37 million shares in 2018 and 41 million shares in 2017 were excluded.
New Accounting Standards	New Accounting Standards. Following is a discussion of new accounting standards. Income Taxes. In December 2019, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) that simplifies the accounting for income taxes by eliminating certain exceptions related to the approach for intra-period tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. FCX adopted this ASU effective December 31, 2019, and the adoption of this ASU did not have a material impact on its consolidated financial statements. 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. FCX adopted this ASU effective January 1, 2020, and the adoption of this ASU did not have a material impact on its consolidated financial statements. Leases. In February 2016, FASB issued an ASU that requires lessees to recognize most leases on the balance sheet. FCX adopted this ASU effective January 1, 2019, and 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. 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. Reclassifications. For comparative purposes, certain prior year amounts have been reclassified to conform with the current year presentation. The reclassifications relate to a change in methodology for determining current leach stockpiles (refer to Note 4) and a revision to FCX’s presentation of business segments to include a new reportable segment (refer to Note 16).

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Schedule of diluted earnings per share	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 for the years ended December 31 follow: 2019 2018 2017 Net (loss) income from continuing operations $ (192 ) $ 2,909 $ 2,029 Net income from continuing operations attributable to noncontrolling interests (50 ) (292 ) (274 ) Accumulated dividends and undistributed earnings allocated to participating securities (3 ) (4 ) (4 ) Net (loss) income from continuing operations attributable to common stockholders (245 ) 2,613 1,751 Net income (loss) from discontinued operations 3 (15 ) 66 Net income from discontinued operations attributable to noncontrolling interests — — (4 ) Net income (loss) from discontinued operations attributable to common stockholders 3 (15 ) 62 Net (loss) income attributable to common stockholders $ (242 ) $ 2,598 $ 1,813 Basic weighted-average shares of common stock outstanding (millions) 1,451 1,449 1,447 Add shares issuable upon exercise or vesting of dilutive stock options and RSUs (millions) — a 9 a 7 Diluted weighted-average shares of common stock outstanding (millions) 1,451 1,458 1,454 Basic net (loss) income per share attributable to common stockholders: Continuing operations $ (0.17 ) $ 1.80 $ 1.21 Discontinued operations — (0.01 ) 0.04 $ (0.17 ) $ 1.79 $ 1.25 Diluted net (loss) income per share attributable to common stockholders: Continuing operations $ (0.17 ) $ 1.79 $ 1.21 Discontinued operations — (0.01 ) 0.04 $ (0.17 ) $ 1.78 $ 1.25 a. Excludes approximately 11 million shares of common stock in 2019 and 1 million in 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.

DISPOSITIONS AND ACQUISITIONS (

DISPOSITIONS AND ACQUISITIONS (Tables)	12 Months Ended
	Dec. 31, 2019
Dispositions And Acquisitions [Abstract]
Allocation of Purchase Price	The following table summarizes the allocation of the purchase price: Current assets $ 25 Property, plant, equipment and mine development costs: Mineral reserves 3,056 Mine development, infrastructure and other 1,559 Liabilities other than taxes (77 ) Deferred income taxes, net (1,063 ) a Total purchase price $ 3,500 a. Deferred income taxes have been recognized on the fair value adjustments to net assets using an Indonesia corporate income tax rate of 25 percent .
Consolidated Impact of Transaction	The following table summarizes the consolidated impact of the transaction discussed above on FCX’s consolidated balance sheet as of December 21, 2018: Cash $ 458 Other current assets 23 Property, plant, equipment and mine development costs: Mineral reserves 3,056 Mine development, infrastructure and other 1,559 Liabilities other than taxes (77 ) Deferred income taxes, net (788 ) Noncontrolling interests (4,762 ) a Capital in excess of par value 531
Schedule of Disposal	Net income (loss) from discontinued operations in the consolidated statements of operations consists of the following: Years Ended December 31, 2019 2018 2017 Income before income taxes and net gain (loss) on disposal $ — $ — $ 13 a Net gain (loss) on disposal b 3 (15 ) 57 Net income (loss) before income taxes 3 (15 ) 70 Provision for income taxes — — (4 ) Net income (loss) from discontinued operations $ 3 $ (15 ) $ 66

INVENTORIES, INCLUDING LONG-T_2

INVENTORIES, INCLUDING LONG-TERM MILL AND LEACH STOCKPILES (Tables)	12 Months Ended
	Dec. 31, 2019
Inventory Disclosure [Abstract]
Components of Inventories	The components of inventories follow: December 31, 2019 2018 Current inventories: Total materials and supplies, net a $ 1,649 $ 1,528 Mill stockpiles $ 220 $ 282 Leach stockpiles 923 915 b Total current mill and leach stockpiles $ 1,143 $ 1,197 b Raw materials (primarily concentrate) $ 318 $ 260 Work-in-process 124 192 Finished goods 839 1,326 Total product $ 1,281 $ 1,778 Long-term inventories: Mill stockpiles $ 181 $ 265 Leach stockpiles 1,244 1,305 b Total long-term mill and leach stockpiles c $ 1,425 $ 1,570 b a. Materials and supplies inventory was net of obsolescence reserves totaling $24 million at December 31, 2019 and 2018 . b. In fourth-quarter 2019, FCX changed its method of estimating the current portion of its leach stockpiles and revised its December 31, 2018, balances to conform with the new methodology resulting in a $256 million decrease in the current balance and a corresponding increase in the long-term balance. c. Estimated metals in stockpiles not expected to be recovered within the next 12 months.

PROPERTY, PLANT, EQUIPMENT AN_2

PROPERTY, PLANT, EQUIPMENT AND MINING DEVELOPMENT COSTS, NET (Tables)	12 Months Ended
	Dec. 31, 2019
Property, Plant and Equipment, Net [Abstract]
Property, Plant, Equipment and Mining Development Costs, Net	The components of net property, plant, equipment and mine development costs follow: December 31, 2019 2018 Proven and probable mineral reserves $ 7,087 $ 7,089 VBPP 465 477 Mine development and other 8,180 8,195 Buildings and infrastructure 8,435 8,051 Machinery and equipment 13,312 12,985 Mobile equipment 4,320 4,010 Construction in progress 4,265 3,006 Oil and gas properties 27,293 27,292 Total 73,357 71,105 Accumulated depreciation, depletion, and amortization a (43,773 ) (43,095 ) Property, plant, equipment and mine development costs, net $ 29,584 $ 28,010

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	12 Months Ended
	Dec. 31, 2019
Other Assets [Abstract]
Schedule of Other Assets	The components of other assets follow: December 31, 2019 2018 Disputed tax assessments: a PT-FI $ 178 $ 493 Cerro Verde 187 183 Long-term receivable for taxes b 290 260 Intangible assets c 402 398 Investments: Assurance bond d 157 126 PT Smelting e 80 125 Fixed income, equity securities and other 66 65 Legally restricted funds f 196 181 Contingent consideration associated with sales of assets g 115 189 Timok transaction receivable (refer to Note 2) 58 — Long-term employee receivables 22 20 Other 134 132 Total other assets $ 1,885 $ 2,172 a. Refer to Note 12 for further discussion. b. Includes tax overpayments and refunds not expected to be realized within the next 12 months (primarily associated with U.S. tax reform, refer to Note 11). c. Indefinite-lived intangible assets totaled $215 million at December 31, 2019 and 2018 . Accumulated amortization of definite-lived intangible assets totaled $54 million at December 31, 2019 , and $51 million at December 31, 2018 . d. Relates to PT-FI’s commitment for the development of a new smelter in Indonesia (refer to Note 13 for further discussion). e. PT-FI’s 25 percent ownership in PT Smelting (smelter and refinery in Gresik, Indonesia) is recorded using the equity method. Amounts were reduced by unrecognized profits on sales from PT-FI to PT Smelting totaling $29 million at December 31, 2019 , and $11 million at December 31, 2018 . Trade accounts receivable from PT Smelting totaled $261 million at December 31, 2019 , and $176 million at December 31, 2018 . f. Includes $196 million at December 31, 2019 , and $180 million at December 31, 2018 , held in trusts for AROs related to properties in New Mexico (refer to Note 12 for further discussion). g. Refer to Note 15 for further discussion.

ACCOUNTS PAYABLE AND ACCRUED _2

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2019
Accounts Payable and Accrued Liabilities, Current [Abstract]
Additional information regarding accounts payable and accrued liabilities	The components of accounts payable and accrued liabilities follow: December 31, 2019 2018 Accounts payable $ 1,654 $ 1,661 Salaries, wages and other compensation 249 273 Accrued interest a 178 183 PT-FI contingencies b 115 162 Legal matters 88 16 Accrued taxes, other than income taxes 79 109 Pension, postretirement, postemployment and other employee benefits c 69 78 Leases d 44 — Other 100 143 Total accounts payable and accrued liabilities $ 2,576 $ 2,625 a. Third-party interest paid, net of capitalized interest, was $591 million in 2019 , $500 million in 2018 and $565 million in 2017 . b. Refer to Note 12 for further discussion. c. Refer to Note 9 for long-term portion. d. Refer to Note 13 for further discussion.

DEBT (Tables)

DEBT (Tables)	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Schedule of Debt Components	The components of debt follow: December 31, 2019 2018 Revolving credit facility $ — $ — Cerro Verde credit facility 826 1,023 Senior notes and debentures: Issued by FCX: 3.100% Senior Notes due 2020 — 999 4.00% Senior Notes due 2021 194 597 3.55% Senior Notes due 2022 1,876 1,886 6.875% Senior Notes due 2023 — 768 3.875% Senior Notes due 2023 1,917 1,915 4.55% Senior Notes due 2024 846 845 5.00% Senior Notes due 2027 592 — 5.25% Senior Notes due 2029 592 — 5.40% Senior Notes due 2034 741 741 5.450% Senior Notes due 2043 1,844 1,843 Issued by FMC: 7 1 / 8 % Debentures due 2027 115 115 9½% Senior Notes due 2031 125 126 6 1 / 8 % Senior Notes due 2034 117 117 Other 41 166 Total debt 9,826 11,141 Less current portion of debt (5 ) (17 ) Long-term debt $ 9,821 $ 11,124
Debt Instrument Redemption [Table Text Block]	The senior notes listed below are redeemable in whole or in part, at the option of FCX, at a make-whole redemption price prior to the dates stated below, and beginning on the dates stated below at 100 percent of principal. Debt Instrument Date 3.55% Senior Notes due 2022 December 1, 2021 3.875% Senior Notes due 2023 December 15, 2022 4.55% Senior Notes due 2024 August 14, 2024 5.40% Senior Notes due 2034 May 14, 2034 5.450% Senior Notes due 2043 September 15, 2042
Schedule of Extinguishment of Debt	During 2019, 2018 and 2017, FCX redeemed in full or purchased a portion of the following senior notes. Principal Amount Net Adjustments Book Value Redemption/Tender Value Loss/(Gain) Year Ended December 31, 2019 FCX 3.100% Senior Notes due 2020 $ 1,000 $ (2 ) $ 998 $ 1,003 $ 5 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 — Total $ 2,145 $ 30 $ 2,175 $ 2,201 $ 26 Year Ended December 31, 2018 FCX 6.75% Senior Notes due 2022 $ 404 $ 22 $ 426 $ 418 $ (8 ) FM O&G LLC 6 7 / 8 % Senior Notes due 2023 50 4 54 52 (2 ) Total $ 454 $ 26 $ 480 $ 470 $ (10 ) Year Ended December 31, 2017 FCX 2.375% Senior Notes due 2018 $ 74 $ — $ 74 $ 74 $ — FCX 6.125% Senior Notes due 2019 179 5 184 182 (2 ) FM O&G LLC 6.125% Senior Notes due 2019 58 2 60 59 (1 ) FCX 6½% Senior Notes due 2020 552 23 575 562 (13 ) FM O&G LLC 6½% Senior Notes due 2020 65 3 68 66 (2 ) FCX 6.625% Senior Notes due 2021 228 12 240 234 (6 ) FM O&G LLC 6.625% Senior Notes due 2021 33 2 35 34 (1 ) FM O&G LLC 6.750% Senior Notes due 2022 45 2 47 46 (1 ) Total $ 1,234 $ 49 $ 1,283 $ 1,257 $ (26 )

OTHER LIABILITIES, INCLUDING _2

OTHER LIABILITIES, INCLUDING EMPLOYEE BENEFITS (Tables)	12 Months Ended
	Dec. 31, 2019
Other Liabilities, Including Employee Benefits [Abstract]
Components of Other Liabilities	The components of other liabilities follow: December 31, 2019 2018 Pension, postretirement, postemployment and other employment benefits a $ 1,318 $ 1,174 Cerro Verde royalty dispute 502 631 Provision for tax positions 255 230 Leases b 204 — Other 212 195 Total other liabilities $ 2,491 $ 2,230 a. Refer to Note 7 for current portion.
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets	FCX uses a measurement date of December 31 for its plans. Information for those plans where the projected benefit obligations and the accumulated benefit obligations exceed the fair value of plan assets follows: December 31, 2019 2018 Projected benefit obligation $ 2,522 $ 2,177 Accumulated benefit obligation 2,361 2,048 Fair value of plan assets 1,615 1,373
Schedule of Changes Benefit Obligation, Fair Value of Plan Assets, and Funded Status of Plan	Information on the FCX (FMC and SERP plans) and PT-FI plans as of December 31 follows: FCX PT-FI 2019 2018 2019 2018 Change in benefit obligation: Benefit obligation at beginning of year $ 2,230 $ 2,343 $ 220 $ 240 Service cost 42 44 12 13 Interest cost 95 84 17 14 Actuarial losses (gains) 328 (124 ) (27 ) (19 ) Plan amendments — 4 — — Foreign exchange losses (gains) 1 (1 ) 8 (15 ) Benefits and administrative expenses paid (120 ) (120 ) (13 ) (13 ) Benefit obligation at end of year 2,576 2,230 217 220 Change in plan assets: Fair value of plan assets at beginning of year 1,433 1,588 238 269 Actual return on plan assets 289 (104 ) 19 (5 ) Employer contributions a 74 70 — 4 Foreign exchange gains (losses) 1 (1 ) 10 (17 ) Benefits and administrative expenses paid (120 ) (120 ) (13 ) (13 ) Fair value of plan assets at end of year 1,677 1,433 254 238 Funded status $ (899 ) $ (797 ) $ 37 $ 18 Accumulated benefit obligation $ 2,414 $ 2,101 $ 175 $ 181 Weighted-average assumptions used to determine benefit obligations: Discount rate 3.40 % 4.40 % 7.25 % 8.25 % Rate of compensation increase 3.25 % 3.25 % 4.00 % 4.00 % Balance sheet classification of funded status: Other assets $ 8 $ 7 $ 37 $ 18 Accounts payable and accrued liabilities (4 ) (4 ) — — Other liabilities (903 ) (800 ) — — Total $ (899 ) $ (797 ) $ 37 $ 18 a. Employer contributions for 2020 are expected to approximate $132 million for the FCX plans and $2 million for the PT-FI plan (based on a December 31, 2019 , exchange rate of 13,832 Indonesia rupiah to one U.S. dollar).
Schedule of Assumptions Used	The weighted-average assumptions used to determine net periodic benefit cost and the components of net periodic benefit cost for FCX’s pension plans for the years ended December 31 follow: 2019 2018 2017 Weighted-average assumptions: a Discount rate 4.40 % 3.70 % 4.40 % Expected return on plan assets 6.50 % 6.50 % 7.00 % Rate of compensation increase 3.25 % 3.25 % 3.25 % Service cost $ 42 $ 44 $ 44 Interest cost 95 84 91 Expected return on plan assets (90 ) (101 ) (93 ) Amortization of net actuarial losses 48 49 49 Net periodic benefit cost $ 95 $ 76 $ 91 a. The assumptions shown relate only to the FMC plans. The weighted-average assumptions used to determine net periodic benefit cost and the components of net periodic benefit cost for PT-FI’s pension plan for the years ended December 31 follow: 2019 2018 2017 Weighted-average assumptions: Discount rate 8.25 % 6.75 % 8.25 % Expected return on plan assets 8.25 % 6.75 % 7.75 % Rate of compensation increase 4.00 % 4.00 % 8.00 % Service cost $ 12 $ 13 $ 20 Interest cost 17 14 23 Expected return on plan assets (17 ) (19 ) (21 ) Amortization of prior service cost 1 2 2 Amortization of net actuarial gains (1 ) (1 ) — Curtailment loss — — 4 Net periodic benefit cost $ 12 $ 9 $ 28
Schedule of Net Periodic Benefit Cost Not yet Recognized	Included in accumulated other comprehensive loss are the following amounts that have not been recognized in net periodic pension cost as of December 31: 2019 2018 Before Taxes After Taxes and Noncontrolling Interests Before Taxes After Taxes and Noncontrolling Interests Net actuarial losses $ 710 $ 604 $ 659 $ 539 Prior service costs 11 6 13 8 $ 721 $ 610 $ 672 $ 547
Schedule of Allocation of Plan Assets	A summary of the fair value hierarchy for pension plan assets associated with the PT-FI plan follows: Fair Value at December 31, 2019 Total Level 1 Level 2 Level 3 Government bonds $ 93 $ 93 $ — $ — Common stocks 80 80 — — Mutual funds 17 17 — — Total investments 190 $ 190 $ — $ — Cash and receivables a 65 Payables (1 ) Total pension plan net assets $ 254 Fair Value at December 31, 2018 Total Level 1 Level 2 Level 3 Government bonds $ 72 $ 72 $ — $ — Common stocks 72 72 — — Mutual funds 20 20 — — Total investments 164 $ 164 $ — $ — Cash and receivables a 75 Payables (1 ) Total pension plan net assets $ 238 a. Cash consists primarily of short-term time deposits. A summary of the fair value for pension plan assets, including those measured at net asset value (NAV) as a practical expedient, associated with the FCX plans follows: Fair Value at December 31, 2019 Total NAV Level 1 Level 2 Level 3 Commingled/collective funds: Global equity $ 425 $ 425 $ — $ — $ — Fixed income securities 239 239 — — — U.S. small-cap equity 67 67 — — — Real estate property 58 58 — — — International small-cap equity 55 55 — — — U.S. real estate securities 53 53 — — — Short-term investments 16 16 — — — Fixed income: Government bonds 279 — — 279 — Corporate bonds 256 — — 256 — Global large-cap equity securities 107 — 107 — — Private equity investments 11 11 — — — Other investments 64 — 14 50 — Total investments 1,630 $ 924 $ 121 $ 585 $ — Cash and receivables 86 Payables (39 ) Total pension plan net assets $ 1,677 Fair Value at December 31, 2018 Total NAV Level 1 Level 2 Level 3 Commingled/collective funds: Global equity $ 291 $ 291 $ — $ — $ — Fixed income securities 144 144 — — — Global fixed income securities 108 108 — — — Emerging markets equity 71 71 — — — Real estate property 55 55 — — — U.S. small-cap equity 54 54 — — — International small-cap equity 47 47 — — — U.S. real estate securities 41 41 — — — Short-term investments 15 15 — — — Fixed income: Government bonds 224 — — 224 — Corporate bonds 211 — — 211 — Global large-cap equity securities 94 — 94 — — Private equity investments 15 15 — — — Other investments 61 — 16 45 — Total investments 1,431 $ 841 $ 110 $ 480 $ — Cash and receivables 32 Payables (30 ) Total pension plan net assets $ 1,433
Schedule of Expected Benefit Payments	The expected benefit payments for FCX’s and PT-FI’s pension plans follow: FCX PT-FI a 2020 $ 120 $ 12 2021 166 19 2022 127 22 2023 129 30 2024 131 32 2025 through 2029 679 155 a. Based on a December 31, 2019 , exchange rate of 13,832 Indonesia rupiah to one U.S. dollar.

STOCKHOLDERS' EQUITY AND STOC_2

STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2019
Stockholders' Equity Note [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	A summary of changes in the balances of each component of accumulated other comprehensive loss, net of tax, follows: Defined Benefit Plans Unrealized Losses on Securities Translation Adjustment Total Balance at January 1, 2017 $ (554 ) $ (4 ) $ 10 $ (548 ) Amounts arising during the period a,b 7 1 — 8 Amounts reclassified c 53 — — 53 Balance at December 31, 2017 (494 ) (3 ) 10 (487 ) Adoption of accounting standard for reclassification of income taxes (79 ) — — (79 ) Amounts arising during the period a,b (84 ) — — (84 ) Amounts reclassified c 48 3 — 51 Sale of interest in PT-FI (refer to Note 2) (6 ) — — (6 ) Balance at December 31, 2018 (615 ) — 10 (605 ) Amounts arising during the period a,b (118 ) — — (118 ) Amounts reclassified c 47 — — 47 Balance at December 31, 2019 $ (686 ) $ — $ 10 $ (676 ) a. Includes net actuarial gains (losses), net of noncontrolling interest, totaling $52 million for 2017 , $(87) million for 2018 and $(111) million for 2019 . b. Includes tax provision (benefit) totaling $45 million for 2017 , $4 million for 2018 and $(8) million for 2019 . c. Includes amortization primarily related to actuarial losses, net of taxes of $5 million for 2017 , and none for 2018
Compensation costs charged against earnings	Compensation cost charged against earnings for stock-based awards for the years ended December 31 follows: 2019 2018 2017 Selling, general and administrative expenses $ 48 $ 62 $ 55 Production and delivery 15 12 16 Total stock-based compensation 63 74 71 Tax benefit and noncontrolling interests’ share a (4 ) (4 ) (4 ) Impact on net (loss) income $ 59 $ 70 $ 67 a. Charges in the U.S. are not expected to generate a future tax benefit.
Summary of stock options and SARs outstanding and changes during the period	A summary of stock options outstanding as of December 31, 2019 , and activity during the year ended December 31, 2019 , follows: Number of Options Weighted- Average Exercise Price Per Share Weighted- Average Remaining Contractual Term (years) Aggregate Intrinsic Value Balance at January 1 46,806,364 $ 27.40 Granted 6,425,500 11.88 Exercised (391,075 ) 4.72 Expired/Forfeited (4,528,736 ) 20.55 Balance at December 31 48,312,053 26.16 4.4 $ 60 Vested and exercisable at December 31 39,981,705 28.86 3.5 $ 51
Weighted average assumptions used to value stock option awards	Information related to stock options during the years ended December 31 follows: 2019 2018 2017 Weighted-average assumptions used to value stock option awards: Expected volatility 47.8 % 46.1 % 51.4 % Expected life of options (in years) 6.10 5.92 5.70 Expected dividend rate 1.8 % 1.2 % — Risk-free interest rate 2.5 % 2.6 % 2.0 % Weighted-average grant-date fair value (per option) $ 4.87 $ 7.84 $ 7.61 Intrinsic value of options exercised $ 3 $ 7 $ 5 Fair value of options vested $ 26 $ 24 $ 25
Summary Of Outstanding Stock-settled RSUs and PSUs	A summary of outstanding stock-settled RSUs and PSUs as of December 31, 2019 , and activity during the year ended December 31, 2019 , follows: Number of Awards Weighted-Average Grant-Date Fair Value Per Award Aggregate Intrinsic Value Balance at January 1 5,804,637 $ 19.97 Granted 2,135,224 11.13 Vested (2,191,743 ) 14.99 Forfeited (157,433 ) 17.58 Balance at December 31 5,590,685 18.61 $ 73
Summary of Outstanding Cash-Settled RSUs and PSUs	A summary of outstanding cash-settled RSUs as of December 31, 2019 , and activity during the year ended December 31, 2019 , follows: Number of Awards Weighted-Average Grant-Date Fair Value Per Award Aggregate Intrinsic Value Balance at January 1 1,486,866 $ 15.61 Granted 819,000 11.88 Vested (698,817 ) 13.70 Forfeited (24,162 ) 14.43 Balance at December 31 1,582,887 14.54 $ 21
Schedule of amounts related to exercises of stock options and stock appreciation rights and the vesting of restricted stock units and restricted stock awards	The following table includes amounts related to exercises of stock options and vesting of RSUs during the years ended December 31 : 2019 2018 2017 FCX shares tendered to pay the exercise price and/or the minimum required taxes a 670,508 195,322 1,041,937 Cash received from stock option exercises $ 2 $ 8 $ 5 Actual tax benefit realized for tax deductions $ 1 $ 3 $ 1 Amounts FCX paid for employee taxes $ 8 $ 4 $ 15 a. Under terms of the related plans, upon exercise of stock options, vesting of stock-settled RSUs and payout of PSUs, employees may tender FCX shares to pay the exercise price and/or the minimum required taxes.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income before income taxes and equity in affiliated companies' net earnings	Geographic sources of (losses) income before income taxes and equity in affiliated companies’ net earnings for the years ended December 31 consist of the following: 2019 2018 2017 U.S. $ (287 ) $ 390 $ 20 Foreign 593 3,502 2,882 Total $ 306 $ 3,892 $ 2,902
Schedule of Benefit from (Provision for) income taxes	FCX’s (provision for) benefit from income taxes for the years ended December 31 consist of the following: 2019 2018 2017 Current income taxes: Federal $ (23 ) a,b $ 46 a,c $ (3 ) State 3 1 (10 ) Foreign (462 ) (1,445 ) c (1,426 ) Total current (482 ) (1,398 ) (1,439 ) Deferred income taxes: Federal 48 (106 ) 64 State 8 (8 ) 10 Foreign (101 ) (102 ) 89 Total deferred (45 ) (216 ) 163 Adjustments 12 504 d 393 e Operating loss carryforwards 5 119 — Provision for income taxes $ (510 ) $ (991 ) $ (883 ) a. As a result of the 2017 Tax Cuts and Jobs Act (the Act) guidance regarding a transition tax issued in 2018, FCX recognized a $29 million tax charge in 2018. Additional guidance released in 2019 resulted in a $29 million tax credit in 2019. b. Includes a tax charge of $53 million associated with the sale of FCX’s interest in the lower zone of the Timok exploration project in Serbia. c. In 2018, FCX completed its analysis of the Act and recognized benefits totaling $123 million ( $76 million to the U.S. tax provision and $47 million to PT-FI’s tax provision) associated with alternative minimum tax (AMT) credit refunds. d. Represents net tax credits resulting from the reduction in PT-FI's statutory tax rates in accordance with its new special mining license (IUPK). e. Represents net tax credits associated with the Act, including $272 million for the reversal of valuation allowances associated with AMT credit refunds and $121 million for a decrease in corporate income tax rates.
Reconciliation of the U.S. federal statutory tax rate to effective income tax rate	reconciliation of the U.S. federal statutory tax rate to FCX’s effective income tax rate for the years ended December 31 follows: 2019 2018 2017 Amount Percent Amount Percent Amount Percent U.S. federal statutory tax rate $ (64 ) (21 )% $ (817 ) (21 )% $ (1,016 ) (35 )% Valuation allowance (149 ) a (49 ) 129 a 3 28 1 PT-FI historical contested tax disputes (145 ) (47 ) — — — — Percentage depletion 118 39 141 4 227 8 Effect of foreign rates different than the U.S. federal statutory rate (64 ) (21 ) (494 ) (13 ) 17 1 Withholding and other impacts on foreign earnings (55 ) (18 ) (232 ) (6 ) (216 ) (7 ) Adjustment to deferred taxes (49 ) b (16 ) — — — — Non-deductible permanent differences (47 ) (15 ) (25 ) (1 ) (31 ) (1 ) Uncertain tax positions (47 ) (15 ) (7 ) — (20 ) (1 ) U.S. tax reform 29 c 9 94 c,d 2 393 e 14 Foreign tax credit limitation (16 ) (5 ) (195 ) (5 ) (159 ) (5 ) State income taxes 16 6 7 1 (5 ) (1 ) Cerro Verde royalty dispute f 2 1 (55 ) (1 ) (129 ) (5 ) Change in PT-FI tax rates — — 504 13 — — Timok exploration project sale (15 ) (5 ) — — — — Other items, net (24 ) (9 ) (41 ) (1 ) 28 1 Provision for income taxes $ (510 ) (166 )% $ (991 ) (25 )% $ (883 ) (30 )% a. Refer to “Valuation Allowance” below for discussion of changes. b. Represents net tax charges primarily to adjust deferred taxes on historical balance sheet items in accordance with tax accounting principles. c. As a result of the Act guidance regarding a transition tax issued in 2018, FCX recognized a $29 million tax charge in 2018. Additional guidance released in 2019 resulted in a $29 million tax credit in 2019. d. In 2018, FCX completed its analysis of the Act and recognized benefits totaling $123 million ( $76 million to the U.S. tax provisions and $47 million to PT-FI’s tax provision) associated with AMT credit refunds. e. Represents net tax credits associated with the Act, including $272 million for the reversal of valuation allowances associated with AMT credit refunds and $121 million for a decrease in corporate income tax rates. f. Refer to Note 12 for further discussion of the Cerro Verde royalty dispute.
Components of deferred tax assets and liabilities	The components of deferred taxes follow: December 31, 2019 2018 Deferred tax assets: Foreign tax credits $ 1,716 $ 1,814 Accrued expenses 1,108 1,069 Net operating losses 2,249 2,235 Employee benefit plans 198 204 Other 267 270 Deferred tax assets 5,538 5,592 Valuation allowances (4,576 ) (4,507 ) Net deferred tax assets 962 1,085 Deferred tax liabilities: Property, plant, equipment and mine development costs (4,372 ) (4,405 ) Undistributed earnings (639 ) (601 ) Other (157 ) (107 ) Total deferred tax liabilities (5,168 ) (5,113 ) Net deferred tax liabilities $ (4,206 ) $ (4,028 )
Reserve for unrecognized tax benefits, interest and penalties	A summary of the activities associated with FCX’s reserve for unrecognized tax benefits for the years ended December 31 follows: 2019 2018 2017 Balance at beginning of year $ 404 $ 390 $ 101 Additions: Prior year tax positions 73 100 302 Current year tax positions 11 14 6 Decreases: Prior year tax positions (75 ) (86 ) (1 ) Settlements with taxing authorities (37 ) (9 ) (17 ) Lapse of statute of limitations — (5 ) (1 ) Balance at end of year $ 376 $ 404 $ 390
Summary of income tax examinations	The tax years for FCX’s major tax jurisdictions that remain subject to examination are as follows: Jurisdiction Years Subject to Examination Additional Open Years U.S. Federal N/A 2014-2019 Indonesia 2008, 2011-2017 2018-2019 Peru 2013-2015 2016-2019 Chile 2017-2018 2019 Tax Year Tax Assessment Penalty and Interest Assessment Total 2003 to 2008 $ 53 $ 122 $ 175 2009 56 52 108 2010 63 107 170 2011 49 65 114 2012 52 11 63 2014 to 2019 39 — 39 $ 312 $ 357 $ 669 7.5 percent export duty that PT-FI paid under protest during the period April 2017 to December 21, 2018 (refer to Note 13), a summary of these assessments follows: Tax Year Tax Assessment Interest Assessment Total 2005 $ 73 $ 35 $ 108 2007 48 23 71 2008, 2010 to 2011 55 31 86 2012 124 — 124 2013 154 74 228 2014 139 6 145 2015 159 — 159 2016 257 113 370 $ 1,009 $ 282 $ 1,291

CONTINGENCIES (Tables)

CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Schedule of Environmental Obligations	A summary of changes in estimated environmental obligations for the years ended December 31 follows: 2019 2018 2017 Balance at beginning of year $ 1,511 $ 1,439 $ 1,221 Accretion expense a 102 100 84 Additions b 23 56 241 Reductions b (1 ) — (43 ) Spending (74 ) (84 ) (64 ) Balance at end of year 1,561 1,511 1,439 Less current portion (106 ) (132 ) (134 ) Long-term portion $ 1,455 $ 1,379 $ 1,305 a. Represents accretion of the fair value of environmental obligations assumed in the 2007 acquisition of FMC, which were determined on a discounted cash flow basis. b. Adjustments to environmental obligations that do not provide future economic benefits are charged to operating income. Reductions primarily reflect revisions for changes in the anticipated scope and timing of projects and other noncash adjustments.
Schedule of Asset Retirement Obligations	A summary of changes in FCX’s AROs for the years ended December 31 follows: 2019 2018 2017 Balance at beginning of year $ 2,547 $ 2,583 $ 2,638 Liabilities incurred 20 1 14 Settlements and revisions to cash flow estimates, net (5 ) 50 (112 ) Accretion expense 118 110 124 Dispositions (5 ) (37 ) (10 ) Spending (170 ) (160 ) (71 ) Balance at end of year 2,505 2,547 2,583 Less current portion (330 ) (317 ) (286 ) Long-term portion $ 2,175 $ 2,230 $ 2,297
Summary of income tax examinations	The tax years for FCX’s major tax jurisdictions that remain subject to examination are as follows: Jurisdiction Years Subject to Examination Additional Open Years U.S. Federal N/A 2014-2019 Indonesia 2008, 2011-2017 2018-2019 Peru 2013-2015 2016-2019 Chile 2017-2018 2019 Tax Year Tax Assessment Penalty and Interest Assessment Total 2003 to 2008 $ 53 $ 122 $ 175 2009 56 52 108 2010 63 107 170 2011 49 65 114 2012 52 11 63 2014 to 2019 39 — 39 $ 312 $ 357 $ 669 7.5 percent export duty that PT-FI paid under protest during the period April 2017 to December 21, 2018 (refer to Note 13), a summary of these assessments follows: Tax Year Tax Assessment Interest Assessment Total 2005 $ 73 $ 35 $ 108 2007 48 23 71 2008, 2010 to 2011 55 31 86 2012 124 — 124 2013 154 74 228 2014 139 6 145 2015 159 — 159 2016 257 113 370 $ 1,009 $ 282 $ 1,291
Schedule of Charges for the Cerro Verde Royalty Dispute	A summary of the charges recorded for the years ended December 31 related to the Cerro Verde royalty dispute follows: Royalty and related assessment charges: 2019 2018 a 2017 Total Production and delivery $ 6 $ 14 $ 203 b $ 223 Interest expense, net 10 c 370 145 525 Other expense — 22 — 22 (Benefit from) provision for income taxes (2 ) (35 ) 7 d (30 ) Net loss attributable to noncontrolling interests (7 ) (176 ) (169 ) (352 ) $ 7 $ 195 $ 186 $ 388 a. Amounts are net of gains from the refund of GEM for the period October 2012 through the year 2013. b. Includes $175 million related to disputed royalty assessments for the period from December 2006 to September 2011 (when royalties were determined based on revenues). c. Excludes $58 million of interest costs associated with the installment payment programs. d. Includes tax charges of $136 million for disputed royalties ( $69 million ) and other related mining taxes ( $67 million ) for the period October 2011 through the year 2013 when royalties were determined based on operating income, mostly offset by a tax benefit of $129 million

COMMITMENTS AND GUARANTEES Leas

COMMITMENTS AND GUARANTEES Leases (Tables)	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	The future minimum payments for leases presented in the consolidated balance sheet at December 31, 2019 , follow: 2020 $ 57 2021 43 2022 36 2023 31 2024 29 Thereafter 121 Total payments 317 Less amount representing interest (69 ) Present value of net minimum lease payments 248 Less current portion (44 ) Long-term portion $ 204
Assets And Liabilities, Lessee [Table Text Block]	The components of FCX’s leases presented in the consolidated balance sheet as of December 31, 2019 , follow: Lease right-of-use assets (included in property, plant, equipment and mine development costs, net) $ 232 Short-term lease liabilities (included in accounts payable and accrued liabilities) $ 44 Long-term lease liabilities (included in other liabilities) 204 Total lease liabilities $ 248
Lease, Cost [Table Text Block]	Operating lease costs for the year ended December 31, 2019 , primarily included in production and delivery expense in the consolidated statement of operations, are as follows: Operating leases $ 55 Variable and short-term leases 79 Total operating lease costs $ 134

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
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 to the components presented in the consolidated balance sheets: December 31, 2019 2018 Balance sheet components: Cash and cash equivalents $ 2,020 $ 4,217 Restricted cash and restricted cash equivalents included in: Other current assets 100 110 Other assets 158 128 Total cash, cash equivalents, restricted cash and restricted cash equivalents presented in the consolidated statements of cash flows $ 2,278 $ 4,455
Unrealized gains (losses) for derivative financial instruments that are designated and qualify as fair value hedge transactions and for the related hedged item	A summary of gains (losses) recognized in revenues for derivative financial instruments related to commodity contracts that are designated and qualify as fair value hedge transactions, including the unrealized (losses) gains on the related hedged item for the years ended December 31 follows: 2019 2018 2017 Copper futures and swap contracts: Unrealized gains (losses): Derivative financial instruments $ 15 $ (20 ) $ 4 Hedged item – firm sales commitments (15 ) 20 (4 ) Realized (losses) gains: Matured derivative financial instruments (8 ) (22 ) 30
Schedule of Derivative Instruments	A summary of FCX’s embedded derivatives at December 31, 2019 , follows: Open Average Price Per Unit Maturities Positions Contract Market Through Embedded derivatives in provisional sales contracts: Copper (millions of pounds) 481 $ 2.67 $ 2.80 May 2020 Gold (thousands of ounces) 112 1,471 1,527 February 2020 Embedded derivatives in provisional purchase contracts: Copper (millions of pounds) 129 2.64 2.80 April 2020
Realized and unrealized gains (losses) for derivative financial instruments that do not qualify as hedge transactions	A summary of the realized and unrealized gains (losses) recognized in operating income for commodity contracts that do not qualify as hedge transactions, including embedded derivatives, for the years ended December 31 follows: 2019 2018 2017 Embedded derivatives in provisional sales contracts a Copper $ 34 $ (310 ) $ 489 Gold and other 20 (7 ) 26 Copper forward contracts b (7 ) 18 (15 ) a. Amounts recorded in revenues. b. Amounts recorded in cost of sales as production and delivery costs.
Fair Values of Unsettled Derivative Financial Instruments	A summary of the fair values of unsettled commodity derivative financial instruments follows: December 31, 2019 2018 Commodity Derivative Assets: Derivatives designated as hedging instruments: Copper futures and swap contracts $ 6 $ — Derivatives not designated as hedging instruments: Embedded derivatives in provisional sales/purchase contracts 68 23 Total derivative assets $ 74 $ 23 Commodity Derivative Liabilities: Derivatives designated as hedging instruments: Copper futures and swap contracts $ — $ 9 Derivatives not designated as hedging instruments: Embedded derivatives in provisional sales/purchase contracts 20 39 Copper forward contracts 1 — Total derivative liabilities $ 21 $ 48
Offsetting Liabilities [Table Text Block]	A summary of these unsettled commodity contracts that are offset in the balance sheet follows: Assets at December 31, Liabilities at December 31, 2019 2018 2019 2018 Gross amounts recognized: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts $ 68 $ 23 $ 20 $ 39 Copper derivatives 6 — 1 9 74 23 21 48 Less gross amounts of offset: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts — 7 — 7 Copper derivatives — — — — — 7 — 7 Net amounts presented in balance sheet: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts 68 16 20 32 Copper derivatives 6 — 1 9 $ 74 $ 16 $ 21 $ 41 Balance sheet classification: Trade accounts receivable $ 66 $ 3 $ — $ 24 Other current assets 6 — — — Accounts payable and accrued liabilities 2 13 21 17 $ 74 $ 16 $ 21 $ 41
Offsetting Assets [Table Text Block]	A summary of these unsettled commodity contracts that are offset in the balance sheet follows: Assets at December 31, Liabilities at December 31, 2019 2018 2019 2018 Gross amounts recognized: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts $ 68 $ 23 $ 20 $ 39 Copper derivatives 6 — 1 9 74 23 21 48 Less gross amounts of offset: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts — 7 — 7 Copper derivatives — — — — — 7 — 7 Net amounts presented in balance sheet: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts 68 16 20 32 Copper derivatives 6 — 1 9 $ 74 $ 16 $ 21 $ 41 Balance sheet classification: Trade accounts receivable $ 66 $ 3 $ — $ 24 Other current assets 6 — — — Accounts payable and accrued liabilities 2 13 21 17 $ 74 $ 16 $ 21 $ 41

FAIR VALUE MEASUREMENT (Tables)

FAIR VALUE MEASUREMENT (Tables)	12 Months Ended
	Dec. 31, 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 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 14) follows: At December 31, 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 43 43 — — 43 — Government bonds and notes 36 36 — — 36 — Corporate bonds 33 33 — — 33 — Asset-backed securities 14 14 — — 14 — Collateralized mortgage-backed securities 7 7 — — 7 — Money market funds 3 3 — 3 — — Municipal bonds 1 1 — — 1 — Total 196 196 59 3 134 — Derivatives: Embedded derivatives in provisional copper, gold and cobalt sales/purchase contracts in a gross asset position c 68 68 — — 68 — Copper futures and swap contracts c 6 6 — 5 1 — Contingent consideration for the sale of onshore California oil and gas properties a 11 11 — — 11 — Total 85 85 — 5 80 — Contingent consideration for the sale of the Deepwater GOM oil and gas properties a 122 108 — — — 108 Liabilities Derivatives: c Embedded derivatives in provisional copper, gold and cobalt sales/purchase contracts in a gross liability position 20 20 — — 20 — Copper forward contracts 1 1 — — 1 — Total 21 21 — — 21 — Long-term debt, including current portion d 9,826 10,239 — — 10,239 — 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 December 31, 2019 , and $109 million at December 31, 2018 , and (ii) other assets of $157 million at December 31, 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 (refer to Note 13 for further discussion) and PT-FI’s closure and reclamation guarantees (refer to Note 12 for further discussion). c. Refer to Note 14 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.
Fair Value, Assets Measured on Recurring Basis, 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, for the years ended December 31 follows: 2019 2018 2017 Balance at beginning of year $ 127 $ 134 $ 135 Net unrealized gains (losses) related to assets still held at the end of the year 2 — (1 ) Settlements (21 ) (7 ) — Balance at end of year $ 108 $ 127 $ 134 Refer to Notes 1 and 2 for a discussion of the fair value estimates associated with other assets acquired and liabilities assumed related to the PT-FI divestment, which were determined based on inputs not observable in the market and thus represent Level 3 measurements.

BUSINESS SEGMENTS INFORMATION (

BUSINESS SEGMENTS INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Revenues by product	FCX’s revenues attributable to the products it sold for the years ended December 31 follow: 2019 2018 2017 Copper: Concentrate $ 4,566 $ 6,180 $ 5,604 Cathode 3,656 4,366 3,759 Rod and other refined copper products 2,110 2,396 2,387 Purchased copper a 1,060 1,053 789 Gold 1,620 3,231 2,126 Molybdenum 1,169 1,190 896 Other b 905 1,490 1,159 Adjustments to revenues: Treatment charges (404 ) (535 ) (536 ) Royalty expense c (113 ) (246 ) (181 ) Export duties d (221 ) (180 ) (115 ) Revenues from contracts with customers 14,348 18,945 15,888 Embedded derivatives e 54 (317 ) 515 Total consolidated revenues $ 14,402 $ 18,628 $ 16,403 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 year 2019 includes charges totaling $155 million primarily associated with an unfavorable Indonesia Supreme Court ruling related to certain disputed export duties (refer to Note 12). e. Refer to Note 14 for discussion of embedded derivatives related to FCX’s provisionally priced concentrate and cathode sales contracts.
Long-lived assets by geographic area	Information concerning financial data by geographic area follows: December 31, 2019 2018 Long-lived assets: a Indonesia $ 14,971 $ 14,025 U.S. 8,834 8,476 Peru 7,215 7,313 Chile 1,084 1,077 Other 384 458 Total $ 32,488 $ 31,349 a.
Revenues by geographic area of customer	Years Ended December 31, 2019 2018 2017 Revenues: a U.S. $ 5,107 $ 5,790 $ 5,344 Switzerland 2,223 2,941 1,200 Indonesia 1,894 2,226 2,023 Japan 1,181 1,946 1,882 Spain 884 1,070 1,086 China 531 873 1,136 Germany 311 256 161 Chile 242 294 248 United Kingdom 233 296 226 France 198 255 122 Belgium 160 278 39 Korea 140 269 364 India 107 389 782 Philippines 73 221 378 Bermuda 38 207 226 Other 1,080 1,317 1,186 Total $ 14,402 $ 18,628 $ 16,403 a. Revenues are attributed to countries based on the location of the customer.
Schedule of financial information by business segment	Financial Information by Business Segment North America Copper Mines South America Mining Atlantic Corporate, Copper Other Cerro Indonesia Molybdenum Rod & Smelting & Elimi- FCX Morenci Bagdad Other Total Verde Other Total Mining Mines Refining & Refining nations Total Year Ended December 31, 2019 Revenues: Unaffiliated customers $ 143 $ — $ 224 $ 367 $ 2,576 $ 499 $ 3,075 $ 2,713 a $ — $ 4,457 $ 2,063 $ 1,727 b $ 14,402 Intersegment 1,864 763 1,392 4,019 313 — 313 58 344 26 5 (4,765 ) — Production and delivery 1,376 512 1,431 3,319 1,852 474 2,326 2,055 c 299 4,475 1,971 (2,931 ) 11,514 Depreciation, depletion and amortization 171 46 132 349 406 68 474 406 62 9 28 84 1,412 Metals inventory adjustments 1 — 29 30 2 — 2 5 50 — — 92 179 Selling, general and administrative expenses 2 1 1 4 8 — 8 125 — — 20 257 414 Mining exploration and research expenses — — 2 2 — — — — — — — 102 104 Environmental obligations and shutdown costs 1 — — 1 — — — — — — — 104 105 Net gain on sales of assets — — — — — — — — — — — (417 ) d (417 ) Operating income (loss) 456 204 21 681 621 (43 ) 578 180 (67 ) (1 ) 49 (329 ) 1,091 Interest expense, net 3 — 1 4 114 — 114 82 c — — 22 398 620 Provision for (benefit from) income taxes — — — — 250 (11 ) 239 167 c — — 5 99 e 510 Total assets at December 31, 2019 2,880 783 4,326 7,989 8,612 1,676 10,288 16,485 1,798 193 761 3,295 40,809 Capital expenditures 231 150 496 877 232 24 256 1,369 19 5 34 92 2,652 a. Includes charges totaling $155 million associated with an unfavorable Indonesia Supreme Court ruling related to PT-FI export duties. Refer to Note 12 for further discussion. b. Includes revenues from FCX’s molybdenum sales company, which includes sales of molybdenum produced by the Molybdenum mines and by certain of the North America and South America copper mines. c. Includes net charges totaling $28 million in production and delivery costs for an adjustment to the settlement of the historical surface water tax matters with the local regional tax authority in Papua, Indonesia, and $78 million in interest expense and $103 million of tax charges in provision for income taxes associated with PT-FI’s historical contested tax disputes. d. Includes net gains totaling $343 million associated with the sale of FCX’s interest in the lower zone of the Timok exploration project and $59 million for the sale of a portion of Freeport Cobalt. Refer to Note 2 for further discussion. e. Includes tax charges totaling $53 million associated with the sale of FCX’s interest in the lower zone of the Timok exploration project and $49 million primarily to adjust deferred taxes on historical balance sheet items in accordance with tax accounting principles. North America Copper Mines South America Mining Atlantic Corporate, Copper Other Cerro Indonesia Molybdenum Rod & Smelting & Elimi- FCX Morenci Bagdad Other Total Verde Other Total Mining Mines Refining & Refining nations Total Year Ended December 31, 2018 Revenues: Unaffiliated customers $ 90 $ — $ 54 $ 144 $ 2,709 $ 594 $ 3,303 $ 5,446 $ — $ 5,103 $ 2,299 $ 2,333 a $ 18,628 Intersegment 2,051 710 1,789 4,550 352 — 352 113 410 31 3 (5,459 ) — Production and delivery 1,183 483 1,458 3,124 1,887 b,c 478 2,365 1,864 d 289 5,117 2,218 (3,290 ) 11,687 Depreciation, depletion and amortization 176 41 143 360 456 90 546 606 79 11 27 125 e 1,754 Metals inventory adjustments — — 4 4 — — — — — — — — 4 Selling, general and administrative expenses 3 1 2 6 9 — 9 123 — — 21 284 443 Mining exploration and research expenses — — 3 3 — — — — — — — 102 105 Environmental obligations and shutdown costs — — 2 2 — — — — — — — 87 89 Net gain on sales of assets — — — — — — — — — — — (208 ) f (208 ) Operating income (loss) 779 185 231 1,195 709 26 735 2,966 42 6 36 (226 ) 4,754 Interest expense, net 3 — 1 4 429 b — 429 1 — — 25 486 945 Provision for (benefit from) income taxes — — — — 253 b 15 268 755 g — — 1 (33 ) h 991 Total assets at December 31, 2018 2,922 671 3,937 7,530 8,524 1,707 10,231 15,646 1,796 233 773 6,007 42,216 Capital expenditures 216 39 346 601 220 17 237 1,001 9 5 16 102 1,971 a. 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. b. Includes net charges totaling $14 million in production and delivery costs, $370 million in interest expense and $35 million of net tax benefits in provision for income taxes associated with disputed royalties for prior years. c. Includes charges totaling $69 million associated with Cerro Verde’s three-year collective labor agreement. d. Includes net charges of $223 million , primarily associated with surface water tax disputes with the local regional tax authority in Papua, Indonesia, assessments for prior period permit fees with Indonesia’s MOEF, disputed payroll withholding taxes for prior years and other tax settlements, and to write-off certain previously capitalized project costs for the new smelter in Indonesia, partially offset by inventory adjustments. e. Includes $31 million of depreciation expense at Freeport Cobalt from December 2016 through December 2017 that was suspended while it was classified as held for sale. f. Includes net gains totaling $97 million associated with a favorable adjustment to the estimated fair value less costs to sell for Freeport Cobalt and fair value adjustments of $31 million associated with potential contingent consideration related to the 2016 sale of onshore California oil and gas properties. g. Includes tax credits totaling $549 million related to the change in PT-FI’s tax rates in accordance with its IUPK ( $482 million ), U.S, tax reform ( $47 million ) and adjustments to PT-FI’s historical tax positions ( $20 million ). h. Includes net tax credits totaling $76 million , primarily related to the Act and $22 million related to the change in PT-FI’s tax rates in accordance with its IUPK. Refer to Note 11 for further discussion. North America Copper Mines South America Mining Atlantic Corporate, Copper Other Cerro Indonesia Molybdenum Rod & Smelting & Elimi- FCX Morenci Bagdad Other Total Verde Other Total Mining Mines Refining & Refining nations Total Year Ended December 31, 2017 Revenues: Unaffiliated customers $ 228 $ 22 $ 158 $ 408 $ 2,811 $ 498 $ 3,309 $ 4,445 $ — $ 4,456 $ 2,031 $ 1,754 a $ 16,403 Intersegment 1,865 528 1,764 4,157 385 — 385 — 268 26 1 (4,837 ) — Production and delivery 1,043 367 1,333 2,743 1,878 b 366 2,244 1,735 c 226 4,467 1,966 (3,123 ) 10,258 Depreciation, depletion and amortization 178 40 207 425 441 84 525 556 76 10 28 94 1,714 Metals inventory adjustments — — 2 2 — — — — 1 — — 5 8 Selling, general and administrative expenses 2 — 2 4 9 — 9 126 c — — 18 320 477 Mining exploration and research expenses — — 2 2 — — — — — — — 91 93 Environmental obligations and shutdown costs — — — — — — — — — — — 244 244 Net gain on sales of assets — — — — — — — — — — — (81 ) (81 ) Operating income (loss) 870 143 376 1,389 868 48 916 2,028 (35 ) 5 20 (633 ) 3,690 Interest expense, net 3 — 1 4 212 b — 212 4 — — 18 563 801 Provision for (benefit from) income taxes — — — — 436 b 10 446 869 — — 5 (437 ) d 883 Total assets at December 31, 2017 2,861 650 3,591 7,102 8,878 1,702 10,580 10,911 1,858 277 822 5,752 37,302 Capital expenditures 114 12 41 167 103 12 115 875 5 4 41 203 1,410 a. 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. b. Includes net charges totaling $203 million in production and delivery costs, $145 million in interest expense, and $7 million of net tax charges associated with disputed royalties for prior years. c. Includes net charges at PT-FI associated with workforce reductions totaling $120 million in production and delivery costs and $5 million in selling, general and administrative expenses. d. Includes net tax credits of $438 million

GUARANTOR FINANCIAL STATEMENT_2

GUARANTOR FINANCIAL STATEMENTS (Tables)	12 Months Ended
	Dec. 31, 2019
Guarantor Financial Statements [Abstract]
Condensed Balance Sheet	CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2019 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX ASSETS Current assets $ 154 $ 657 $ 7,778 $ (674 ) $ 7,915 Property, plant, equipment and mine development costs, net 16 1 29,555 12 29,584 Investments in consolidated subsidiaries 17,027 — — (17,027 ) — Other assets 1,604 21 3,137 (1,452 ) 3,310 Total assets $ 18,801 $ 679 $ 40,470 $ (19,141 ) $ 40,809 LIABILITIES AND EQUITY Current liabilities $ 323 $ 42 $ 3,550 $ (706 ) $ 3,209 Long-term debt, less current portion 8,602 7,328 6,292 (12,401 ) 9,821 Deferred income taxes 468 a — 3,742 — 4,210 Environmental and asset retirement obligations, less current portion — 224 3,406 — 3,630 Investments in consolidated subsidiary — 652 10,906 (11,558 ) — Other liabilities 110 3,340 2,535 (3,494 ) 2,491 Total liabilities 9,503 11,586 30,431 (28,159 ) 23,361 Equity: Stockholders’ equity 9,298 (10,907 ) 7,343 3,564 9,298 Noncontrolling interests — — 2,696 5,454 8,150 Total equity 9,298 (10,907 ) 10,039 9,018 17,448 Total liabilities and equity $ 18,801 $ 679 $ 40,470 $ (19,141 ) $ 40,809 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 $ 10,120 $ (585 ) $ 10,464 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 3,474 (635 ) 3,742 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 subsidiary — 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 Income Statement	CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE (LOSS) INCOME Year Ended December 31, 2019 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 40 $ 14,362 $ — $ 14,402 Total costs and expenses 25 54 13,244 (12 ) 13,311 Operating (loss) income (25 ) (14 ) 1,118 12 1,091 Interest expense, net (337 ) (322 ) (494 ) 533 (620 ) Net loss on early extinguishment of debt (26 ) — (1 ) — (27 ) Other expense, net (22 ) — (95 ) (21 ) (138 ) (Loss) income before income taxes and equity in affiliated companies’ net earnings (losses) (410 ) (336 ) 528 524 306 Benefit from (provision for) income taxes 58 76 (642 ) (2 ) (510 ) Equity in affiliated companies’ net earnings (losses) 113 (73 ) (321 ) 293 12 Net (loss) income from continuing operations (239 ) (333 ) (435 ) 815 (192 ) Net income from discontinued operations — — 3 — 3 Net (loss) income (239 ) (333 ) (432 ) 815 (189 ) Net (income) loss attributable to noncontrolling interests — — (86 ) 36 (50 ) Net (loss) income attributable to common stockholders $ (239 ) $ (333 ) $ (518 ) $ 851 $ (239 ) Other comprehensive (loss) income (71 ) — (71 ) 71 (71 ) Total comprehensive (loss) income $ (310 ) $ (333 ) $ (589 ) $ 922 $ (310 ) Year Ended December 31, 2018 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 59 $ 18,569 $ — $ 18,628 Total costs and expenses 28 58 13,798 (10 ) 13,874 Operating (loss) income (28 ) 1 4,771 10 4,754 Interest expense, net (388 ) (301 ) (734 ) 478 (945 ) Net gain (loss) on early extinguishment of debt 7 2 (2 ) — 7 Other income (expense), net 477 — 77 (478 ) 76 Income (loss) before income taxes and equity in affiliated companies’ net earnings (losses) 68 (298 ) 4,112 10 3,892 (Provision for) benefit from income taxes (176 ) 61 (874 ) (2 ) (991 ) Equity in affiliated companies’ net earnings (losses) 2,710 10 (219 ) (2,493 ) 8 Net income (loss) from continuing operations 2,602 (227 ) 3,019 (2,485 ) 2,909 Net loss from discontinued operations — — (15 ) — (15 ) Net income (loss) 2,602 (227 ) 3,004 (2,485 ) 2,894 Net income attributable to noncontrolling interests: — — (68 ) (224 ) (292 ) Net income (loss) attributable to common stockholders $ 2,602 $ (227 ) $ 2,936 $ (2,709 ) $ 2,602 Other comprehensive (loss) income (33 ) — (33 ) 33 (33 ) Total comprehensive income (loss) $ 2,569 $ (227 ) $ 2,903 $ (2,676 ) $ 2,569 CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) Year Ended December 31, 2017 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Revenues $ — $ 52 $ 16,351 $ — $ 16,403 Total costs and expenses 39 78 12,586 10 12,713 Operating (loss) income (39 ) (26 ) 3,765 (10 ) 3,690 Interest expense, net (467 ) (227 ) (455 ) 348 (801 ) Net gain (loss) on early extinguishment of debt 22 5 (6 ) — 21 Other income (expense), net 336 — 4 (348 ) (8 ) (Loss) income before income taxes and equity in affiliated companies’ net earnings (losses) (148 ) (248 ) 3,308 (10 ) 2,902 Benefit from (provision for) income taxes 220 (108 ) (998 ) 3 (883 ) Equity in affiliated companies’ net earnings (losses) 1,745 10 (337 ) (1,408 ) 10 Net income (loss) from continuing operations 1,817 (346 ) 1,973 (1,415 ) 2,029 Net income from discontinued operations — — 66 — 66 Net income (loss) 1,817 (346 ) 2,039 (1,415 ) 2,095 Net income attributable to noncontrolling interests: Continuing operations — — (150 ) (124 ) (274 ) Discontinued operations — — (4 ) — (4 ) Net income (loss) attributable to common stockholders $ 1,817 $ (346 ) $ 1,885 $ (1,539 ) $ 1,817 Other comprehensive income (loss) 61 — 61 (61 ) 61 Total comprehensive income (loss) $ 1,878 $ (346 ) $ 1,946 $ (1,600 ) $ 1,878
Condensed Cash Flow Statement	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Year Ended December 31, 2019 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Net cash provided by (used in) operating activities $ 443 $ (444 ) $ 1,483 $ — $ 1,482 Cash flow from investing activities: Capital expenditures — (4 ) (2,648 ) — (2,652 ) Intercompany loans (1,299 ) — — 1,299 — Dividends from (investments in) consolidated subsidiaries 2,177 — 96 (2,275 ) (2 ) Asset sales and other, net (1 ) 104 448 — 551 Net cash provided by (used in) investing activities 877 100 (2,104 ) (976 ) (2,103 ) Cash flow from financing activities: Proceeds from debt 1,200 — 679 — 1,879 Repayments of debt (2,202 ) — (995 ) — (3,197 ) Intercompany loans — 344 955 (1,299 ) — Cash dividends paid and distributions received, net (291 ) — (2,172 ) 2,255 (208 ) Other, net (27 ) — (23 ) 20 (30 ) Net cash (used in) provided by financing activities (1,320 ) 344 (1,556 ) 976 (1,556 ) Net decrease in cash, cash equivalents, restricted cash and restricted cash equivalents — — (2,177 ) — (2,177 ) 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 year $ — $ — $ 2,278 $ — $ 2,278 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Year Ended December 31, 2018 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Net cash (used in) provided by operating activities $ (40 ) $ (487 ) $ 4,390 $ — $ 3,863 Cash flow from investing activities: Capital expenditures (2 ) — (1,969 ) — (1,971 ) Acquisition of PT Rio Tinto Indonesia — — (3,500 ) — (3,500 ) Intercompany loans (832 ) — — 832 — Dividends from (investments in) consolidated subsidiaries 2,475 — 84 (2,559 ) — Asset sales and other, net 460 6 (13 ) — 453 Net cash provided by (used in) investing activities 2,101 6 (5,398 ) (1,727 ) (5,018 ) Cash flow from financing activities: Proceeds from debt — — 632 — 632 Repayments of debt (1,826 ) (53 ) (838 ) — (2,717 ) Intercompany loans — 526 306 (832 ) — Proceeds from sale of PT Freeport Indonesia shares — — 3,710 (210 ) 3,500 Cash dividends paid and distributions received, net (217 ) — (3,032 ) 2,753 (496 ) Other, net (18 ) — (17 ) 16 (19 ) Net cash (used in) provided by financing activities (2,061 ) 473 761 1,727 900 Net decrease in cash, cash equivalents, restricted cash and restricted cash equivalents — (8 ) (247 ) — (255 ) Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year — 8 4,702 — 4,710 Cash, cash equivalents, restricted cash and restricted cash equivalents at end of year $ — $ — $ 4,455 $ — $ 4,455 Year Ended December 31, 2017 FCX FM O&G LLC Non-guarantor Consolidated Issuer Guarantor Subsidiaries Eliminations FCX Net cash (used in) provided by operating activities $ (156 ) $ (467 ) $ 5,289 $ — $ 4,666 Cash flow from investing activities: Capital expenditures — (25 ) (1,385 ) — (1,410 ) Intercompany loans (777 ) — — 777 — Dividends from (investments in) consolidated subsidiaries 3,226 (15 ) 120 (3,331 ) — Asset sales and other, net — 57 32 — 89 Net cash provided by (used in) investing activities 2,449 17 (1,233 ) (2,554 ) (1,321 ) Cash flow from financing activities: Proceeds from debt — — 955 — 955 Repayments of debt (2,281 ) (205 ) (1,326 ) — (3,812 ) Intercompany loans — 663 114 (777 ) — Cash dividends paid and distributions received, net (2 ) — (3,440 ) 3,266 (176 ) Other, net (10 ) (10 ) (67 ) 65 (22 ) Net cash (used in) provided by financing activities (2,293 ) 448 (3,764 ) 2,554 (3,055 ) Net (decrease) increase in cash, cash equivalents, restricted cash and restricted cash equivalents — (2 ) 292 — 290 Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year — 10 4,410 — 4,420 Cash, cash equivalents, restricted cash and restricted cash equivalents at end of year $ — $ 8 $ 4,702 $ — $ 4,710

QUARTERLY FINANCIAL INFORMATI_2

QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Quarterly financial information	First Quarter Second Quarter Third Quarter Fourth Quarter Year 2019 Revenues $ 3,792 $ 3,546 $ 3,153 $ 3,911 $ 14,402 Operating income (loss) 321 33 (38 ) 775 1,091 Net income (loss) from continuing operations 75 (74 ) (235 ) 42 (192 ) Net income from discontinued operations 1 — 1 1 3 Net income (loss) 76 (74 ) (234 ) 43 (189 ) Net (income) loss attributable to noncontrolling interests (45 ) 2 27 (34 ) (50 ) Net income (loss) attributable to common stockholders 31 (72 ) (207 ) 9 (239 ) Net income (loss) per share attributable to common stockholders: Basic $ 0.02 $ (0.05 ) $ (0.15 ) $ — $ (0.17 ) Diluted $ 0.02 $ (0.05 ) $ (0.15 ) $ — $ (0.17 ) Weighted-average shares outstanding: Basic 1,451 1,451 1,452 1,452 1,451 Diluted 1,457 1,451 1,452 1,457 1,451 Following summarizes significant items included in FCX’s net income (loss) attributable to common stockholders for the 2019 quarters: • Charges at PT-FI totaled $460 million ( $379 million to net loss attributable to common stockholders or $0.26 per share), consisting of $266 million in the fourth quarter primarily associated with historical contested tax disputes ( $78 million to interest expense, net and $188 million to other expense, net), $166 million in the third quarter recorded in revenues, primarily associated with an unfavorable Indonesia Supreme Court ruling related to PT-FI export duties, and $28 million in the second quarter to production and delivery costs for an adjustment to the settlement of the historical surface water tax disputes with the local regional tax authority in Papua, Indonesia. • Net gains on sales of assets for the year totaled $417 million ( $339 million to net loss attributable to common stockholders or $0.23 per share), primarily associated with the sales of FCX’s interest in the lower zone of the Timok exploration project in Serbia and a portion of Freeport Cobalt, most of which was recorded in the fourth quarter. Refer to Note 2 for further discussion. • Metals inventory adjustments for the year totaled $179 million ( $144 million to net loss attributable to common stockholders or $0.10 per share) and included $59 million in the second quarter, $41 million in the third quarter and $79 million in the fourth quarter. Refer to Note 4 for further discussion. • Net adjustments to environmental obligations and related litigation reserves totaled $68 million to operating income and net loss attributable to common stockholders ( $0.05 per share) for the year, most of which was recorded in the first quarter ( $35 million ) and the third quarter ( $19 million ). Of the charges in the third quarter, $15 million were recorded to production and delivery costs. • After-tax net losses on early extinguishment of debt totaled $26 million ( $0.02 per share), most of which was recorded in the third quarter. Refer to Note 8 for further discussion. First Quarter Second Quarter Third Quarter Fourth Quarter Year 2018 Revenues $ 4,868 $ 5,168 $ 4,908 $ 3,684 $ 18,628 Operating income 1,459 1,664 1,315 316 4,754 Net income from continuing operations 828 1,039 668 374 2,909 Net (loss) income from discontinued operations (11 ) (4 ) (4 ) 4 (15 ) Net income 817 1,035 664 378 2,894 Net (income) loss attributable to noncontrolling interests (125 ) (166 ) (108 ) 107 (292 ) Net income attributable to common stockholders 692 869 556 485 2,602 Basic net income (loss) per share attributable to common stockholders: Continuing operations $ 0.48 $ 0.60 $ 0.38 $ 0.33 $ 1.80 Discontinued operations (0.01 ) — — — (0.01 ) $ 0.47 $ 0.60 $ 0.38 $ 0.33 $ 1.79 Diluted net income (loss) per share attributable to common stockholders: Continuing operations $ 0.48 $ 0.59 $ 0.38 $ 0.33 $ 1.79 Discontinued operations (0.01 ) — — — (0.01 ) $ 0.47 $ 0.59 $ 0.38 $ 0.33 $ 1.78 Weighted-average shares outstanding: Basic 1,449 1,449 1,450 1,450 1,449 Diluted 1,458 1,458 1,458 1,457 1,458 Following summarizes significant items included in FCX’s net income attributable to common stockholders for the 2018 quarters: • Net charges at Cerro Verde related to Peru government claims for disputed royalties totaled $195 million to net income attributable to common stockholders or $0.13 per share for the year (consisting of $14 million to production and delivery costs, $370 million to interest expense and $22 million to other expense, net), most of which was recorded in the fourth quarter. Refer to Note 12 for further discussion. • Net charges at PT-FI totaled $223 million ( $110 million to net income attributable to common stockholders or $0.08 per share) consisting of charges to production and delivery of $69 million for surface water tax disputes with the local regional tax authority in Papua, Indonesia, $32 million for assessments of prior period permit fees with the MOEF, $72 million for disputed payroll withholding taxes for prior years and other tax settlements and $62 million to write-off certain previously capitalized project costs for the new smelter in Indonesia in fourth quarter, partly offset by inventory adjustments of $12 million recorded in second quarter. The fourth quarter also included $43 million of favorable inventory adjustments at PT-FI related to prior 2018 quarterly periods. • Net charges at Cerro Verde related to its new three-year collective bargaining agreement totaled $69 million ( $22 million to net income attributable to common stockholders or $0.02 per share) for the year, which was recorded in the third quarter. • Net adjustments to environmental obligations and related litigation reserves totaled $57 million to operating income and net income attributable to common stockholders ( $0.04 per share) for the year, most of which was recorded in the second quarter. • Net gains on sales of assets for the year totaled $208 million to operating income and net income attributable to common stockholders ( $0.14 per share), mostly associated with adjustments to assets no longer classified as held for sale, adjustments to the fair value of contingent consideration related to the 2016 sale of onshore California oil and gas properties (which will continue to be adjusted through December 31, 2020) and the sale of Port Carteret (assets held for sale), and included $11 million in the first quarter, $45 million in the second quarter, $70 million in the third quarter and $82 million in the fourth quarter. Refer to Note 2 for further discussion of asset dispositions. • Other net charges for the year totaled $50 million ( $30 million to net income attributable to common stockholders or $0.02 per share), including prior period depreciation expense at Freeport Cobalt that was suspended while it was classified as held for sale ( $48 million in fourth-quarter and $31 million for the year). • Net tax credits for the year totaled $632 million ( $574 million net of noncontrolling interest or $0.39 per share), primarily associated with a reduction in PT-FI’s statutory rates in accordance with the IUPK ( $504 million ) and benefits associated with the Act ( $123 million ), most of which was recorded in the fourth quarter. Refer to Note 11 for further discussion.

SUPPLEMENTARY MINERAL RESERVE_2

SUPPLEMENTARY MINERAL RESERVE INFORMATION (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2019
Mineral Industries Disclosures [Abstract]
Schedule Of Estimated Recoverable Proven And Probable Reserves By Location [Text Block]	Estimated Recoverable Proven and Probable Mineral Reserves at December 31, 2019 Copper a (billion pounds) Gold (million ounces) Molybdenum (billion pounds) North America 47.2 0.5 2.87 South America 33.2 — 0.71 Indonesia b 35.6 29.1 — Consolidated c 116.0 29.6 3.58 Net equity interest d 83.4 16.1 3.25 a. Estimated consolidated recoverable copper reserves included 1.7 billion pounds in leach stockpiles and 0.5 billion pounds in mill stockpiles. b. Reflects estimates of minerals that can be recovered through 2041. Refer to Note 13 for discussion of PT-FI’s IUPK. c. Consolidated reserves represent estimated metal quantities after reduction for joint venture partner interests at the Morenci mine in North America (refer to Note 3 for further discussion). Excluded from the table above were FCX’s estimated recoverable proven and probable reserves of 375 million ounces of silver, which were determined using $15 per ounce. d. Net equity interest reserves represent estimated consolidated metal quantities further reduced for noncontrolling interest ownership (refer to Note 3 for further discussion of FCX’s ownership in subsidiaries). FCX's net equity interest for estimated metal quantities in Indonesia reflects approximately 81 percent from 2020 through 2022 and 48.76 percent from 2023 through 2041. Excluded from the table above were FCX’s estimated recoverable proven and probable reserves of 251 million ounces of silver.
Supplementary Reserve Information at 100% Basis by Location	Estimated Recoverable Proven and Probable Mineral Reserves at December 31, 2019 Average Ore Grade Per Metric Ton a Recoverable Proven and Probable Reserves b Ore a (million metric tons) Copper (%) Gold (grams) Molybdenum (%) Copper (billion pounds) Gold (million ounces) Molybdenum (billion pounds) North America Developed and producing: Morenci 4,435 0.23 — — c 14.5 — 0.19 Sierrita 2,960 0.23 — c 0.02 12.5 0.1 1.23 Bagdad 2,535 0.32 — c 0.02 15.3 0.2 0.79 Safford, including d 812 0.45 — — 5.9 — — Chino, including Cobre 324 0.45 0.03 — c 2.7 0.3 0.01 Climax 160 — — 0.15 — — 0.49 Henderson 67 — — 0.17 — — 0.22 Tyrone 49 0.25 — — 0.3 — — Miami — — — — 0.1 — — South America Developed and producing: Cerro Verde 4,265 0.35 — 0.01 29.3 — 0.71 El Abra 717 0.41 — — 3.9 — — Indonesia e Developed and producing: Grasberg Block Cave 959 0.97 0.73 — 17.2 14.2 — Deep Mill Level Zone 429 0.92 0.75 — 7.6 8.2 — Big Gossan 55 2.33 0.97 — 2.6 1.2 — Deep Ore Zone 29 0.50 0.48 — 0.3 0.4 — Undeveloped: Kucing Liar 340 1.25 1.04 — 8.0 5.1 — Total 100% basis 18,137 f 120.0 f 29.6 f 3.64 Consolidated g 116.0 29.6 3.58 FCX’s equity share h 83.4 16.1 3.25 a. Excludes material contained in stockpiles. b. Includes estimated recoverable metals contained in stockpiles. c. Amounts not shown because of rounding. d. The Lone Star leachable ores project is under development. e. Estimated recoverable proven and probable reserves from Indonesia reflect estimates of minerals that can be recovered through 2041. Refer to Note 13 for discussion of PT-FI’s IUPK. f. Does not foot because of rounding. g. Consolidated reserves represent estimated metal quantities after reduction for joint venture partner interests at the Morenci mine in North America. Refer to Note 3 for further discussion. h. Net equity interest reserves represent estimated consolidated metal quantities further reduced for noncontrolling interest ownership. FCX's net equity interest for estimated metal quantities in Indonesia reflects an approximate 81 percent from 2020 through 2022 and 48.76 percent from 2023 through 2041. Refer to Note 3 for further discussion of FCX’s ownership in subsidiaries.

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2019
Schedule of Significant Accounting Policies [Line Items]
Operating Lease, Right-of-Use Asset	$ 232								$ 232			$ 243
Metals inventory adjustments	79	$ 41	$ 59						179	$ 4	$ 8
Total cost of sales									13,105	13,445	11,980
Selling, general and administrative expenses									414	443	477
Exploration Expense									104	105	93
Environmental obligations and shutdown costs									105	89	244
Costs and Expenses									13,311	13,874	12,713
Operating income (loss)	$ 775	$ (38)	$ 33	$ 321	$ 316	$ 1,315	$ 1,664	$ 1,459	1,091	4,754	3,690
Accrued income taxes and timing of other tax payments									(29)	(634)	457
Net cash provided by (used in) operating activities									1,482	3,863	4,666
Foreign currency transaction gains (losses), before tax									24	14	(5)
Payments for (Proceeds from) Other Investing Activities									(12)	(97)	17
Net cash provided by (used in) investing activities									(2,103)	(5,018)	(1,321)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect									(2,177)	(255)	290
Other (expense) income, net									(138)	76	$ (8)
Copper
Schedule of Significant Accounting Policies [Line Items]
Metals inventory adjustments									$ 37
Percentage of ultimate copper recovery from leach stockpiles									90.00%
Percentage of copper ultimately recoverable from newly placed material on active stockpiles extracted during the first year									80.00%
PT-FI
Schedule of Significant Accounting Policies [Line Items]
Ownership percentage of subsidiary	48.76%								48.76%
Accumulated Other Comprehensive Loss
Schedule of Significant Accounting Policies [Line Items]
Cumulative Effect of New Accounting Principle in Period of Adoption					$ (79)					$ (79)

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Property, Plant and Equipment) (Details)	12 Months Ended
	Dec. 31, 2019
Building
Property, Plant and Equipment [Line Items]
Property, plant, equipment and mine development, useful life	50 years
Machinery and equipment | Minimum
Property, Plant and Equipment [Line Items]
Property, plant, equipment and mine development, useful life	3 years
Machinery and equipment | Maximum
Property, Plant and Equipment [Line Items]
Property, plant, equipment and mine development, useful life	50 years

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Earnings Per Share) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Net (loss) income from continuing operations	$ 42	$ (235)	$ (74)	$ 75	$ 374	$ 668	$ 1,039	$ 828	$ (192)	$ 2,909	$ 2,029
Net income from continuing operations attributable to noncontrolling interests									(50)	(292)	(274)
Accumulated dividends and undistributed earnings allocated to participating securities									(3)	(4)	(4)
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent									(245)	2,613	1,751
Net income (loss) from discontinued operations	$ 1	$ 1	$ 0	$ 1	$ 4	$ (4)	$ (4)	$ (11)	3	(15)	66
Net income from discontinued operations attributable to noncontrolling interests									0	0	(4)
Net income (loss) from discontinued operations attributable to common stockholders									3	(15)	62
Net Income (Loss) Available to Common Stockholders, Diluted									$ (242)	$ 2,598	$ 1,813
Weighted Average Number of Shares Outstanding, Basic	1,452,000,000	1,452,000,000	1,451,000,000	1,451,000,000	1,450,000,000	1,450,000,000	1,449,000,000	1,449,000,000	1,451,000,000	1,449,000,000	1,447,000,000
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements									0	9,000,000	7,000,000
Weighted Average Number of Shares Outstanding, Diluted	1,457,000,000	1,452,000,000	1,451,000,000	1,457,000,000	1,457,000,000	1,458,000,000	1,458,000,000	1,458,000,000	1,451,000,000	1,458,000,000	1,454,000,000
Basic net income (loss) per share attributable to common stockholders:
Income (Loss) from Continuing Operations, Per Basic Share					$ 0.33	$ 0.38	$ 0.60	$ 0.48	$ (0.17)	$ 1.80	$ 1.21
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share									0	(0.01)	0.04
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Basic Share					0	0	0	(0.01)		(0.01)
Earnings per share, basic (in dollars per share)	$ 0	$ (0.15)	$ (0.05)	$ 0.02	0.33	0.38	0.60	0.47	(0.17)	1.79	1.25
Diluted net income (loss) per share attributable to common stockholders:
Income (Loss) from Continuing Operations, Per Diluted Share					0.33	0.38	0.59	0.48	(0.17)	1.79	1.21
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share					0	0	0	(0.01)	0	(0.01)	0.04
Earnings Per Share, Diluted	$ 0	$ (0.15)	$ (0.05)	$ 0.02	$ 0.33	$ 0.38	$ 0.59	$ 0.47	$ (0.17)	$ 1.78	$ 1.25
Potential anti-dilutive securities									11,000,000	1,000,000
Outstanding options with exercise prices greater than market price of common stock									42,000,000	37,000,000	41,000,000

DISPOSITIONS AND ACQUISITIONS_2

DISPOSITIONS AND ACQUISITIONS (PT-FI Divestment) (Details)	Dec. 21, 2018USD ($)$ / lb$ / oz	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Jan. 01, 2023	Jan. 01, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income tax rate											21.00%	21.00%	35.00%
Proceeds from divestiture, net	$ 350,000,000
Accounts payable and accrued liabilities		$ 2,491,000,000				$ 2,230,000,000				$ 2,491,000,000	$ 2,491,000,000	$ 2,230,000,000
Net (loss) income		43,000,000	$ (234,000,000)	$ (74,000,000)	$ 76,000,000	378,000,000	$ 664,000,000	$ 1,035,000,000	$ 817,000,000		(189,000,000)	2,894,000,000	$ 2,095,000,000
Other current assets		655,000,000				422,000,000				655,000,000	655,000,000	422,000,000
Property, plant, equipment and mine development costs, net		29,584,000,000				28,010,000,000				29,584,000,000	29,584,000,000	28,010,000,000
Noncontrolling interests		8,150,000,000				8,094,000,000				8,150,000,000	8,150,000,000	8,094,000,000
Capital in excess of par value		$ 25,830,000,000				$ 26,013,000,000				$ 25,830,000,000	$ 25,830,000,000	$ 26,013,000,000
Rio Tinto Share In Joint Venture
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestiture, net	$ 107,000,000
PT-FI
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage	81.28%	48.76%								48.76%	48.76%
Net (loss) income										$ 339,000,000	$ 203,000,000
Net Income (Loss) Attributable to Parent										$ 276,000,000	165,000,000
PT-FI | Scenario, forecast
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage														48.76%
PT Freeport Indonesia, Subsidiary | PT-FI
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage	19.00%
PT Indonesia Papua Metal dan Mineral | PT-FI
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership interest by parent subsequent to business acquisition	25.00%
PT Indonesia Papua Metal dan Mineral | PT-FI | Scenario, forecast
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage														25.00%
Rio Tinto | Rio Tinto Share In Joint Venture
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestiture, net	$ 3,500,000,000
Fair Value, Measurement with Unobservable Inputs Reconciliation, Liability, Transfers Into Level 3											$ 0.14
PT Indonesia Asahan Aluminium (Persero) (Inalum) | PT-FI
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestiture, net	$ 3,850,000,000
PT Indonesia Asahan Aluminium (Persero) (Inalum) | Interest In PT Indocopper Investama
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Percentage of voting interest	100.00%
PT Indonesia Asahan Aluminium (Persero) (Inalum) | PT-FI
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Percentage of voting interest	40.00%
Ownership interest by parent subsequent to business acquisition	26.24%
PT Indonesia Asahan Aluminium (Persero) (Inalum) | PT-FI | Scenario, forecast
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage														26.24%
PT-FI
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage of subsidiary		48.76%								48.76%	48.76%
PT-FI | Rio Tinto Share In Joint Venture
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Current assets	$ 25,000,000
Mineral reserves	3,056,000,000
Mine development, infrastructure and other	1,559,000,000
Asset Acquisition, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities, Excluding Taxes	77,000,000
Asset Acquisition, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities	1,063,000,000
Asset Acquisition, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	$ 3,500,000,000
PT-FI | PT-FI
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership interest by parent subsequent to business acquisition	51.24%
PT-FI
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage of subsidiary	48.76%
PT-FI | Scenario, forecast
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage of subsidiary														48.76%	81.00%
PT-FI | PT Indonesia Papua Metal dan Mineral
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage	9.36%
Copper | PT-FI | Rio Tinto Share In Joint Venture
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Price assumption per unit (in dollars per unit) | $ / lb	3
Gold | PT-FI | Rio Tinto Share In Joint Venture
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Price assumption per unit (in dollars per unit) | $ / oz	1,300
Tax Authority, In Papua, Indonesia
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income tax rate	25.00%
PT-FI | Rio Tinto Share In Joint Venture
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash	$ 458,000,000
Other current assets	23,000,000
Liabilities, Excluding Tax	77,000,000
Deferred Income Tax Liabilities, Net	788,000,000
Noncontrolling interests	4,762,000,000
Capital in excess of par value	531,000,000
PT-FI | Mineral reserves | Rio Tinto Share In Joint Venture
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property, plant, equipment and mine development costs, net	3,056,000,000
PT-FI | Mine development, infrastructure and other | Rio Tinto Share In Joint Venture
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property, plant, equipment and mine development costs, net	$ 1,559,000,000
Indemnification Agreement [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Accounts payable and accrued liabilities		$ 33,000,000								$ 33,000,000	$ 33,000,000

DISPOSITIONS AND ACQUISITIONS_3

DISPOSITIONS AND ACQUISITIONS (Purchase Price Allocation) (Details) $ in Millions	Dec. 21, 2018USD ($)$ / lb$ / oz	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Income tax rate		21.00%	21.00%	35.00%
Tax Authority, In Papua, Indonesia
Business Acquisition [Line Items]
Income tax rate	25.00%
PT-FI | Rio Tinto Share In Joint Venture
Business Acquisition [Line Items]
Current assets	$ 25
Mineral reserves	3,056
Mine development, infrastructure and other	1,559
Liabilities other than taxes	(77)
Deferred income taxes, net	(1,063)
Total purchase price	$ 3,500
PT-FI | Rio Tinto Share In Joint Venture | Copper
Business Acquisition [Line Items]
Price assumption per unit (in dollars per unit) | $ / lb	3
PT-FI | Rio Tinto Share In Joint Venture | Gold
Business Acquisition [Line Items]
Price assumption per unit (in dollars per unit) | $ / oz	1,300

DISPOSITIONS AND ACQUISITIONS_4

DISPOSITIONS AND ACQUISITIONS (FCX Consolidated Balance Sheet) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 21, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Other current assets	$ 655	$ 422
Property, plant, equipment and mine development costs, net	29,584	28,010
Noncontrolling interests	(8,150)	(8,094)
Capital in excess of par value	$ 25,830	$ 26,013
PT-FI | Rio Tinto Share In Joint Venture
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash			$ 458
Other current assets			23
Liabilities other than taxes			(77)
Deferred income taxes, net			(788)
Noncontrolling interests			(4,762)
Capital in excess of par value			531
PT-FI | Rio Tinto Share In Joint Venture | Mineral reserves
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property, plant, equipment and mine development costs, net			3,056
PT-FI | Rio Tinto Share In Joint Venture | Mine development, infrastructure and other
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property, plant, equipment and mine development costs, net			$ 1,559

DISPOSITIONS AND ACQUISITIONS_5

DISPOSITIONS AND ACQUISITIONS (TF Holdings Limited) (Details) $ in Millions	Dec. 21, 2018USD ($)	Nov. 16, 2016USD ($)	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Jan. 31, 2020USD ($)	Nov. 30, 2016USD ($)$ / lb	Nov. 15, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestiture, net	$ 350
Other assets			$ 1,885				$ 2,172				$ 1,885	$ 2,172
Net (loss) gain on disposal											3	(15)	$ 57
Net income (loss) from discontinued operations			$ 1	$ 1	$ 0	$ 1	4	$ (4)	$ (4)	$ (11)	3	(15)	66
Disposed of by Sale, Discontinued Operations | TF Holdings Limited
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, before Income Tax											0	0	13
Proceeds from divestiture, net		$ 2,650
Contingent receivable															$ 120
Other assets							$ 57					57
Chainge in fair value of contingent consideration											3	(17)	61
Net (loss) gain on disposal											3	(15)	57
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax											3	(15)	70
Discontinued Operation, Tax Effect of Discontinued Operation											0	0	4
Net income (loss) from discontinued operations											3	(15)	66
TF Holdings Limited
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage																70.00%
Copper | Disposed of by Sale, Discontinued Operations | TF Holdings Limited
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contingent receivable															60
Cobalt | Disposed of by Sale, Discontinued Operations | TF Holdings Limited
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contingent receivable															$ 60
Contingent consideration, reference threshold, price per barrel (in us dollars per pound) | $ / lb															20
Eliminations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net income (loss) from discontinued operations											$ 0	$ 0	$ 0
Subsequent Event [Member] | Cobalt | Disposed of by Sale, Discontinued Operations | TF Holdings Limited
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contingent receivable														$ 60
Maximum | Copper | Disposed of by Sale, Discontinued Operations | TF Holdings Limited
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contingent consideration, reference threshold, price per barrel (in us dollars per pound) | $ / lb															3.50

DISPOSITIONS AND ACQUISITIONS_6

DISPOSITIONS AND ACQUISITIONS (Net Income (Loss) from Discontinued Operations) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net gain on sales of assets					$ 82	$ 70	$ 45	$ 11	$ 417	$ 208	$ 81
Net (loss) gain on disposal									3	(15)	57
Net (loss) income from discontinued operations	$ 1	$ 1	$ 0	$ 1	$ 4	$ (4)	$ (4)	$ (11)	3	(15)	66
Eliminations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net (loss) income from discontinued operations									0	0	0
TF Holdings Limited | Disposed of by Sale, Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (loss) before income taxes and net (loss) gain on disposal									0	0	13
Net (loss) gain on disposal									3	(15)	57
Net (loss) income before income taxes									3	(15)	70
(Provision for) benefit from income taxes									0	0	(4)
Net (loss) income from discontinued operations									3	(15)	66
Chainge in fair value of contingent consideration									$ 3	$ (17)	$ 61

DISPOSITIONS AND ACQUISITIONS_7

DISPOSITIONS AND ACQUISITIONS (Assets Held for Sale) (Details) - USD ($) $ in Millions	3 Months Ended				12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Long Lived Assets Held-for-sale [Line Items]
Net gain on sales of assets	$ 82	$ 70	$ 45	$ 11	$ 417	$ 208	$ 81
Deferred income taxes	4,032				4,210	4,032
Property, plant, equipment and mine development costs, net	28,010				29,584	28,010
Depreciation, depletion and amortization					$ 1,412	1,754	$ 1,714
Freeport Cobalt
Long Lived Assets Held-for-sale [Line Items]
Depreciation Expense on Reclassified Assets	$ 48					$ 31

DISPOSITIONS AND ACQUISITIONS_8

DISPOSITIONS AND ACQUISITIONS (Assets Held for Sale - Freeport Cobalt) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 21, 2018	Dec. 31, 2017
Assets
Cash and cash equivalents	$ 2,020	$ 4,217
Trade accounts receivable	741	829
Property, plant, equipment and mine development costs, net	29,584	28,010
Other assets	1,885	2,172
Total previously included in current assets held for sale	40,809	42,216		$ 37,302
Liabilities
Accounts payable and accrued liabilities	2,576	2,625
Accrued income taxes	119	165
Deferred income taxes and asset retirement obligations	4,206	4,028
Total previously included in current liabilities held for sale	23,361	$ 24,324
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations [Member] | Freeport Cobalt
Long Lived Assets Held-for-sale [Line Items]
Disposal Group, Including Discontinued Operation, Cash	59
Disposal Group, Including Discontinued Operation, Assets	271
Liabilities
Disposal Group, Including Discontinued Operation, Liabilities	63
Disposal Group, Including Discontinued Operation, Consideration	200
Disposal Group, Including Discontinued Operation, Consideration, Working Capital	$ 50
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations [Member] | Lundin Mining Corporation [Member] | Freeport Cobalt
Long Lived Assets Held-for-sale [Line Items]
Disposal Group, Including Discontinued Operation, Proceeds On Sale, Percent	30.00%
PT Freeport Indonesia [Member]
Long Lived Assets Held-for-sale [Line Items]
Ownership percentage	48.76%		81.28%

DISPOSITIONS AND ACQUISITIONS_9

DISPOSITIONS AND ACQUISITIONS (Morenci) (Details) - USD ($) $ in Millions	Dec. 21, 2018	Dec. 31, 2019	May 31, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestiture, net	$ 350
Morenci
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage		72.00%
Morenci | SMM Morenci Inc.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage			13.00%
Morenci | Sumitomo Metal Mining Co., Ltd.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage		15.00%

DISPOSITIONS AND ACQUISITION_10

DISPOSITIONS AND ACQUISITIONS (Timok) (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021	Jul. 31, 2020	Dec. 21, 2018	Dec. 31, 2019	Nov. 01, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestiture, net				$ 350
Disposed of by Sale, Discontinued Operations | Timok, Lower Zone [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestiture, net					$ 240
Divestiture of Businesses, Deferred Payments Receivable					150
Divestiture of Businesses, Deferred Payments Receivable, Demand Amount					60
Disposed of by Sale, Discontinued Operations | Timok, Upper Zone [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Divestiture of Businesses, Contingent Consideration						$ 107
Disposed of by Sale, Discontinued Operations | Timok
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestiture, net					240
Divestiture of Businesses, Contingent Consideration					103
Gain (Loss) on Disposition of Business					$ 343
Forecast [Member] | Subsequent Event [Member] | Disposed of by Sale, Discontinued Operations | Timok, Upper Zone [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sales	$ 12	$ 50	$ 45

DISPOSITIONS AND ACQUISITION_11

DISPOSITIONS AND ACQUISITIONS (Oil and Gas Operations) (Details) $ in Millions	3 Months Ended				12 Months Ended
	Dec. 31, 2018USD ($)$ / bbl	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2019USD ($)$ / bbl	Dec. 31, 2018USD ($)$ / bbl	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)$ / bbl	Dec. 31, 2020USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net gain on sales of assets	$ 82	$ 70	$ 45	$ 11	$ 417	$ 208	$ 81
Other current assets	(422)				(655)	(422)
Other assets	(2,172)				(1,885)	(2,172)
Freeport-McMoRan Oil & Gas
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sales					36		80
Net gain (loss) on sales of assets						27
Freeport-McMoRan Oil & Gas | Onshore California
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contingent receivable					50			$ 150
Contingent consideration asset, per year								$ 50
Other assets	$ (16)				$ (11)	$ (16)
Freeport-McMoRan Oil & Gas | Onshore California | Crude Oil
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contingent consideration, reference threshold, price per barrel (in us dollars per pound) | $ / bbl	70				70	70		70
Freeport-McMoRan Oil & Gas | Deepwater Gulf of Mexico Interests
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contingent receivable								$ 150
Other current assets	$ (27)				$ (18)	$ (27)
Other assets	$ (116)				(104)	(116)
Forecast [Member] | Freeport-McMoRan Oil & Gas | Onshore California
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contingent receivable									$ 50
Corporate And Eliminations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net gain on sales of assets					417	208	81
Corporate And Eliminations [Member] | Gulf of Mexico Shelf and Madden properties [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net gain on sales of assets					$ 20		$ 49
Corporate And Eliminations [Member] | Onshore California
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net gain on sales of assets						$ 31

DISPOSITIONS AND ACQUISITION_12

DISPOSITIONS AND ACQUISITIONS (Freeport Cobalt) (Details) - Freeport Cobalt - Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations [Member] $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Assets	$ 271
Disposal Group, Including Discontinued Operation, Liabilities	63
Disposal Group, Including Discontinued Operation, Consideration	200
Disposal Group, Including Discontinued Operation, Cash	$ 59
Lundin Mining Corporation [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Proceeds On Sale, Percent	30.00%

OWNERSHIP IN SUBSIDIARIES AND_2

OWNERSHIP IN SUBSIDIARIES AND JOINT VENTURES (Details) oz in Millions, lb in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2019USD ($)lboz	Jan. 01, 2023	Dec. 31, 2018USD ($)	Dec. 21, 2018	May 31, 2016
Summary of investment holdings [Line Items]
Retained Earnings (accumulated deficit)		$ (12,280,000,000)		$ (12,041,000,000)
Freeport-McMoRan Corporation [Member]
Summary of investment holdings [Line Items]
Number of pounds of copper purchased from Sumitomo (in pounds) | lb		147
Sumitomo Metal Mining, Ltd. and SMM Morenci Inc. [Member]
Summary of investment holdings [Line Items]
Dollar value of pounds purchased from Sumitomo		$ 397,000,000
Due from Joint Ventures, Current		19,000,000
PT-FI
Summary of investment holdings [Line Items]
Net assets (liabilities) in subsidiary		10,400,000,000
Retained Earnings (accumulated deficit)		$ 6,400,000,000
Rio Tinto Share In Joint Venture
Summary of investment holdings [Line Items]
Percent interest in certain assets and future production per terms of the joint venture agreement		40.00%
Sumitomo Metal Mining Co., Ltd. [Member]
Summary of investment holdings [Line Items]
Due from Joint Ventures, Current				$ 13,000,000
Copper
Summary of investment holdings [Line Items]
Estimated Recoverable Proven And Probable Reserves (in pounds) | lb		120,000
Gold
Summary of investment holdings [Line Items]
Estimated Recoverable Proven And Probable Reserves (in pounds) | oz		29.6
Morenci
Summary of investment holdings [Line Items]
Ownership percentage		72.00%
Morenci | SMM Morenci Inc.
Summary of investment holdings [Line Items]
Ownership percentage						13.00%
Morenci | Sumitomo Metal Mining Co., Ltd. [Member]
Summary of investment holdings [Line Items]
Ownership percentage		15.00%
Cerro Verde [Member]
Summary of investment holdings [Line Items]
Ownership percentage		53.56%
Other North America Mines [Member]
Summary of investment holdings [Line Items]
Ownership percentage		100.00%
El Abra [Member]
Summary of investment holdings [Line Items]
Ownership percentage		51.00%
PT Indocopper Investama [Member]
Summary of investment holdings [Line Items]
Ownership percentage					100.00%
Freeport Minerals Corporation [Member]
Summary of investment holdings [Line Items]
Loans outstanding		$ 0
Freeport Minerals Corporation [Member] | Subsidiaries [Member]
Summary of investment holdings [Line Items]
Net assets (liabilities) in subsidiary		14,500,000,000
Retained Earnings (accumulated deficit)		$ (16,000,000,000)
PT-FI
Summary of investment holdings [Line Items]
Ownership percentage		48.76%			81.28%
Loans outstanding		$ 973,000,000
PT-FI | PT Indocopper Investama [Member]
Summary of investment holdings [Line Items]
Ownership percentage					9.36%
PT-FI | PT Freeport Indonesia, Subsidiary
Summary of investment holdings [Line Items]
Ownership percentage					19.00%
Atlantic Copper [Member]
Summary of investment holdings [Line Items]
Ownership percentage		100.00%
Net assets (liabilities) in subsidiary		$ 38,000,000
Retained Earnings (accumulated deficit)		(411,000,000)
Loans outstanding		$ 324,000,000
Forecast [Member] | Rio Tinto Share In Joint Venture
Summary of investment holdings [Line Items]
Percent interest in certain assets and future production per terms of the joint venture agreement	40.00%
Forecast [Member] | PT-FI
Summary of investment holdings [Line Items]
Ownership percentage			48.76%

INVENTORIES, INCLUDING LONG-T_3

INVENTORIES, INCLUDING LONG-TERM MILL AND LEACH STOCKPILES (Components of Inventories) (Details) - USD ($) $ in Millions	3 Months Ended			12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Components of Inventories [Line Items]
Total materials and supplies, net	$ 1,649			$ 1,649	$ 1,528
Mill stockpiles	220			220	282
Inventory, Ore Stockpiles on Leach Pads, Gross	923			923	915
Leach stockpiles					256
Total current mill and leach stockpiles	1,143			1,143	1,197
Raw materials (primarily concentrate)	318			318	260
Work-in-process	124			124	192
Finished goods	839			839	1,326
Total product	1,281			1,281	1,778
Mill stockpiles	181			181	265
Leach stockpiles	1,244			1,244	1,305
Total long-term inventories	1,425			1,425	1,570
Inventory obsolescence reserves	24			24	24
Metals inventory adjustments	$ 79	$ 41	$ 59	179	$ 4	$ 8
Molybdenum
Components of Inventories [Line Items]
Metals inventory adjustments				84
Cobalt
Components of Inventories [Line Items]
Metals inventory adjustments				58
Copper
Components of Inventories [Line Items]
Metals inventory adjustments				$ 37

PROPERTY, PLANT, EQUIPMENT AN_3

PROPERTY, PLANT, EQUIPMENT AND MINING DEVELOPMENT COSTS, NET (Schedule of PPE) (Details) - USD ($)	12 Months Ended					156 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 30, 2008	Dec. 31, 2007	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property, plant, equipment and mining development costs	$ 73,357,000,000	$ 71,105,000,000				$ 73,357,000,000
Accumulated depreciation, depletion and amortization	(43,773,000,000)	(43,095,000,000)				(43,773,000,000)
Property, plant, equipment and mining development costs, net	29,584,000,000	28,010,000,000				29,584,000,000
Proven and probable reserves [Member]
Property, Plant and Equipment [Line Items]
Property, plant, equipment and mining development costs	7,087,000,000	7,089,000,000				7,087,000,000
Transfer From Value Beyond Proven And Probable Reserves To Proven And Probable Reserves	0	59,000,000				811,000,000
Value beyond proven and probable reserves (VBPP) [Member]
Property, Plant and Equipment [Line Items]
Payments to Acquire Mineral Rights					$ 1,700,000,000
Property, plant, equipment and mining development costs	465,000,000	477,000,000				465,000,000
Property, Plant and Equipment, Transfers and Changes				$ 497,000,000
Mine development and other
Property, Plant and Equipment [Line Items]
Property, plant, equipment and mining development costs	8,180,000,000	8,195,000,000				8,180,000,000
Buildings and infrastructure
Property, Plant and Equipment [Line Items]
Property, plant, equipment and mining development costs	8,435,000,000	8,051,000,000				8,435,000,000
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant, equipment and mining development costs	13,312,000,000	12,985,000,000				13,312,000,000
Mobile equipment
Property, Plant and Equipment [Line Items]
Property, plant, equipment and mining development costs	4,320,000,000	4,010,000,000				4,320,000,000
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant, equipment and mining development costs	4,265,000,000	3,006,000,000				4,265,000,000
Oil and Gas Properties [Member]
Property, Plant and Equipment [Line Items]
Property, plant, equipment and mining development costs	27,293,000,000	27,292,000,000				27,293,000,000
Accumulated depreciation, depletion and amortization	(27,300,000,000)	(27,300,000,000)				$ (27,300,000,000)
Discontinued Operations
Property, Plant and Equipment [Line Items]
Payments to Acquire Mineral Rights					$ 544,000,000
Mining Operations [Member]
Property, Plant and Equipment [Line Items]
Capitalized interest	$ 149,000,000	$ 96,000,000	$ 121,000,000

OTHER ASSETS (Details)

OTHER ASSETS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Schedule Of Other Assets [Line Items]
Indefinite-lived Intangible Assets (Excluding Goodwill)	$ 215	$ 215
Intangible assetsc	402	398
Investments: [Abstract]
Assurance bond	157	126
Fixed income, equity securities and other	66	65
Disposal group, contingent consideration	115	189
Legally restricted fundsg	196	181
Long-term receivable for taxes	290	260
Long-term employee receivables	22	20
Other	134	132
Total other assets	1,885	2,172
Finite-Lived Intangible Assets, Accumulated Amortization	54	51
Equity in affiliated companies’ net earnings	12	8	$ 10
PT-FI
Investments: [Abstract]
Long-term receivable for taxes	178	493
Cerro Verde
Investments: [Abstract]
Long-term receivable for taxes	187	183
PT Smelting
Investments: [Abstract]
PT Smelting	$ 80	125
Ownership percentage	25.00%
Equity in affiliated companies’ net earnings	$ 29	11
Accounts Receivable, before Allowance for Credit Loss, Current	261	176
NEW MEXICO
Investments: [Abstract]
Legally restricted funds for asset retirement obligations at New Mexico mines	196	180
Disposed of by Sale, Discontinued Operations | Timok, Lower Zone [Member]
Investments: [Abstract]
Divestiture of Businesses, Deferred Payments Receivable, Demand Amount	$ 58	$ 0

ACCOUNTS PAYABLE AND ACCRUED _3

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accounts Payable and Accrued Liabilities, Current [Abstract]
Accounts payable	$ 1,654	$ 1,661
Salaries, wages and other compensation	249	273
Accrued interesta	178	183
PT-FI contingenciesb	115	162
Legal matters	88	16
Accrued taxes, other than income taxes	79	109
Pension, postretirement, postemployment and other employee benefitsc	69	78
Leases	44	0
Other	100	143
Total accounts payable and accrued liabilities	2,576	2,625
Cash interest paid, net	$ 591	$ 500	$ 565

DEBT (Details)

DEBT (Details)	Aug. 15, 2019USD ($)	May 02, 2019USD ($)	Jun. 30, 2017USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2021	Mar. 31, 2014USD ($)	Oct. 31, 2019USD ($)	Dec. 31, 2019USD ($)payment	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Jun. 29, 2017USD ($)	Dec. 31, 2014USD ($)
Debt Instruments [Line Items]
Gain (Loss) on Extinguishment of Debt								$ 27,000,000	$ (7,000,000)	$ (21,000,000)
Long-term Debt, Maturities, Repayments of Principal in Year Two				$ 507,000,000				507,000,000
Long-term Debt				$ 9,826,000,000				9,826,000,000	11,141,000,000
Proceeds from (Repayments of) Debt	$ 1,187,000,000
Cerro Verde [Abstract]
Term of Debt Agreement		5 years
Debt Instrument, Leverage Ratio				5.25			3.75
Debt instrument, leverage ratio, amount of unrestricted cash that may be applied to reduce total debt				$ 1,250,000,000			$ 2,500,000,000
Senior Notes [Member]
Debt Instruments [Line Items]
Gain (Loss) on Extinguishment of Debt								(26,000,000)	10,000,000	26,000,000
Other Debt [Member]
Debt Instruments [Line Items]
Long-term Debt				$ 41,000,000				$ 41,000,000	$ 166,000,000
2.15% Senior Notes due 2017 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage				2.15%				2.15%
2.30% Senior Notes Due 2017 | Senior Notes [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage				2.30%				2.30%
6.125% Senior Notes due 2019 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Gain (Loss) on Extinguishment of Debt										2,000,000
Debt Instrument, Interest Rate, Stated Percentage				6.125%				6.125%	6.125%
2.375% Senior Notes due March 2018 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Gain (Loss) on Extinguishment of Debt										0
Debt Instrument, Interest Rate, Stated Percentage				2.375%				2.375%
6.5% Senior Notes due 2020 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Gain (Loss) on Extinguishment of Debt										13,000,000
Debt Instrument, Interest Rate, Stated Percentage				6.50%				6.50%	6.50%
6.625% Senior Notes due 2021 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Gain (Loss) on Extinguishment of Debt										6,000,000
Debt Instrument, Interest Rate, Stated Percentage				6.625%				6.625%	6.625%
6.75% Senior Notes due 2022 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage				6.75%				6.75%	6.75%
3.100% Senior Notes due March 2020 | Senior Notes [Member]
Debt Instruments [Line Items]
Gain (Loss) on Extinguishment of Debt								$ (5,000,000)
Long-term Debt				$ 0				$ 0	$ 999,000,000
Debt Instrument, Interest Rate, Stated Percentage				3.10%				3.10%
6.875% Senior Notes due 2023 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Gain (Loss) on Extinguishment of Debt									2,000,000
Long-term Debt				$ 0				$ 0	$ 768,000,000
Debt Instrument, Interest Rate, Stated Percentage				6.875%				6.875%	6.875%
4.00% Senior Notes Due 2021 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Long-term Debt				$ 194,000,000				$ 194,000,000	$ 597,000,000
Debt Instrument, Interest Rate, Stated Percentage				4.00%				4.00%
3.55% Senior Notes Due 2022 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Gain (Loss) on Extinguishment of Debt								$ 0
Long-term Debt				$ 1,876,000,000				$ 1,876,000,000	1,886,000,000
Debt Instrument, Interest Rate, Stated Percentage				3.55%				3.55%
3.875% Senior Notes due March 2023 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Long-term Debt				$ 1,917,000,000				$ 1,917,000,000	1,915,000,000
Debt Instrument, Interest Rate, Stated Percentage				3.875%				3.875%
senior notes 4.55 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Long-term Debt				$ 846,000,000				$ 846,000,000	845,000,000
Debt Instrument, Interest Rate, Stated Percentage				4.55%				4.55%
Senior Notes due 2034 5 point 4 percent [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Long-term Debt				$ 741,000,000				$ 741,000,000	741,000,000
Debt Instrument, Interest Rate, Stated Percentage				5.40%				5.40%
5.450% Senior Notes due March 2043 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Long-term Debt				$ 1,844,000,000				$ 1,844,000,000	1,843,000,000
Debt Instrument, Interest Rate, Stated Percentage				5.45%				5.45%
Senior Notes due 2027, 5% [Member]
Debt Instruments [Line Items]
Long-term Debt	$ 600,000,000
Debt Instrument, Interest Rate, Stated Percentage	5.00%			5.00%				5.00%
Senior Notes due 2027, 5% [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Long-term Debt				$ 592,000,000				$ 592,000,000	0
Senior Notes due 2029, 5.25% [Member]
Debt Instruments [Line Items]
Long-term Debt	$ 600,000,000
Debt Instrument, Interest Rate, Stated Percentage	5.25%			5.25%				5.25%
Senior Notes due 2029, 5.25% [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Long-term Debt				$ 592,000,000				$ 592,000,000	0
Senior Notes Due 2023 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.875%
Senior Notes Due 2023 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Gain (Loss) on Extinguishment of Debt								(6,000,000)
Senior Notes Due 2021 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.00%
Senior Notes Due 2021 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Gain (Loss) on Extinguishment of Debt								(15,000,000)
Senior Notes Due 2022 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.55%
Senior Notes Due 2022 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Gain (Loss) on Extinguishment of Debt									8,000,000
Cerro Verde | Line of Credit [Member]
Debt Instruments [Line Items]
Long-term Debt				826,000,000				826,000,000	1,023,000,000
Cerro Verde | Shareholder Loan [Member]
Debt Instruments [Line Items]
Long-term Debt				0				0
Cerro Verde [Abstract]
Related Party Transaction, Remaining Borrowing Capacity				200,000,000				200,000,000				$ 800,000,000
Cerro Verde | Senior Notes [Member]
Debt Instruments [Line Items]
Gain (Loss) on Extinguishment of Debt								1,000,000	3,000,000	$ 5,000,000
Freeport McMoRan Corporation [Member] | 7.125% Debentures due 2027 [Member] | Debentures [Member]
Debt Instruments [Line Items]
Long-term Debt				$ 115,000,000				$ 115,000,000	115,000,000
Debt Instrument, Interest Rate, Stated Percentage				7.125%				7.125%
Freeport McMoRan Corporation [Member] | 9.5% Senior Notes due 2031 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Long-term Debt				$ 125,000,000				$ 125,000,000	126,000,000
Debt Instrument, Interest Rate, Stated Percentage				9.50%				9.50%
Freeport McMoRan Corporation [Member] | 6.125% Senior Notes due 2034 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Long-term Debt				$ 117,000,000				$ 117,000,000	117,000,000
Debt Instrument, Interest Rate, Stated Percentage				6.125%				6.125%
Freeport-McMoRan Oil & Gas | 6.125% Senior Notes due 2019 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage				6.125%				6.125%
Freeport-McMoRan Oil & Gas | 6.5% Senior Notes due 2020 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage				6.50%				6.50%
Freeport-McMoRan Oil & Gas | 6.625% Senior Notes due 2021 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage				6.625%				6.625%
Freeport-McMoRan Oil & Gas | 6.75% Senior Notes due 2022 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage				6.75%				6.75%
Freeport-McMoRan Oil & Gas | 6.875% Senior Notes due 2023 [Member] | Senior Notes [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage				6.875%				6.875%
Line of Credit [Member] | Cerro Verde | Line of Credit [Member]
Debt Instruments [Line Items]
Long-term Debt			$ 1,500,000,000								$ 1,275,000,000
Revolving Credit Facility [Abstract]
Line of Credit Facility, Maximum Borrowing Capacity						$ 1,800,000,000
Cerro Verde [Abstract]
Term of Debt Agreement						5 years
Line of Credit Facility, Increase (Decrease), Net			$ 225,000,000
Number of Installment Payments under Installment Program | payment								4
Debt Instrument, Interest Rate, Effective Percentage				3.70%				3.70%
Letter of Credit [Member] | Line of Credit [Member]
Revolving Credit Facility [Abstract]
Long-term Line of Credit				$ 13,000,000				$ 13,000,000
Line of Credit Facility, Remaining Borrowing Capacity				1,500,000,000				1,500,000,000
Revolving Credit Facility [Member] | Line of Credit [Member]
Debt Instruments [Line Items]
Long-term Debt				0				0	0
Revolving Credit Facility [Abstract]
Line of Credit Facility, Maximum Borrowing Capacity		$ 3,500,000,000
Line of Credit Facility, Remaining Borrowing Capacity				3,500,000,000				3,500,000,000
Revolving Credit Facility [Member] | Amended Credit Facility, Maturing April 20, 2024 [Member] | Line of Credit [Member]
Revolving Credit Facility [Abstract]
Line of Credit Facility, Remaining Borrowing Capacity		3,260,000,000
Revolving Credit Facility [Member] | Amended Credit Facility, Maturing April 20, 2023 [Member] | Line of Credit [Member]
Revolving Credit Facility [Abstract]
Line of Credit Facility, Remaining Borrowing Capacity		$ 240,000,000
Revolving Credit Facility [Member] | PT Freeport Indonesia [Member] | Line of Credit [Member]
Revolving Credit Facility [Abstract]
Line of Credit Facility, Remaining Borrowing Capacity				$ 500,000,000				500,000,000
Debt Instrument, Payment Period One [Member] | Line of Credit [Member] | Cerro Verde | Line of Credit [Member]
Cerro Verde [Abstract]
Debt Instrument, Periodic Payment								225,000,000
June 30, 2021 [Member] | Line of Credit [Member] | Cerro Verde | Line of Credit [Member]
Cerro Verde [Abstract]
Debt Instrument, Periodic Payment								225,000,000
Debt Instrument, Payment Period Three [Member] | Line of Credit [Member] | Cerro Verde | Line of Credit [Member]
Cerro Verde [Abstract]
Debt Instrument, Periodic Payment								525,000,000
Repayments of Lines of Credit								$ 200,000,000	$ 20,000,000
Minimum
Cerro Verde [Abstract]
Debt Instrument, Coverage Ratio								2.25
Maximum
Cerro Verde [Abstract]
Debt Instrument, Leverage Ratio								5.25
Forecast [Member] | Maximum
Cerro Verde [Abstract]
Debt Instrument, Leverage Ratio					3.75

DEBT - Components of Debt (Deta

DEBT - Components of Debt (Details) - USD ($)	May 02, 2019	Mar. 31, 2014	Dec. 31, 2019	Dec. 31, 2018	Aug. 15, 2019	Jun. 30, 2017	Jun. 29, 2017
Debt Instruments [Line Items]
Long-term Debt			$ 9,826,000,000	$ 11,141,000,000
Long-term Debt and Capital Lease Obligations, Repayments of Principal in Next Twelve Months			(5,000,000)	(17,000,000)
Long-term debt			$ 9,821,000,000	$ 11,124,000,000
Term of Debt Agreement	5 years
Senior Notes due 2027, 5% [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			5.00%		5.00%
Long-term Debt					$ 600,000,000
Senior Notes due 2029, 5.25% [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			5.25%		5.25%
Long-term Debt					$ 600,000,000
Senior Notes [Member] | 2.15% Senior Notes due 2017 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			2.15%
Senior Notes [Member] | 2.30% Senior Notes Due 2017
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			2.30%
Senior Notes [Member] | 2.375% Senior Notes due March 2018 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			2.375%
Senior Notes [Member] | 6.125% Senior Notes due 2019 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			6.125%	6.125%
Senior Notes [Member] | 3.100% Senior Notes due March 2020
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			3.10%
Long-term Debt			$ 0	$ 999,000,000
Senior Notes [Member] | 6.5% Senior Notes due 2020 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			6.50%	6.50%
Senior Notes [Member] | 6.625% Senior Notes due 2021 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			6.625%	6.625%
Senior Notes [Member] | 4.00% Senior Notes Due 2021 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			4.00%
Long-term Debt			$ 194,000,000	$ 597,000,000
Senior Notes [Member] | 6.75% Senior Notes due 2022 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			6.75%	6.75%
Senior Notes [Member] | 3.55% Senior Notes Due 2022 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			3.55%
Long-term Debt			$ 1,876,000,000	$ 1,886,000,000
Senior Notes [Member] | 6.875% Senior Notes due 2023 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			6.875%	6.875%
Long-term Debt			$ 0	$ 768,000,000
Senior Notes [Member] | 3.875% Senior Notes due March 2023 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			3.875%
Long-term Debt			$ 1,917,000,000	1,915,000,000
Senior Notes [Member] | senior notes 4.55 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			4.55%
Long-term Debt			$ 846,000,000	845,000,000
Senior Notes [Member] | Senior Notes due 2027, 5% [Member]
Debt Instruments [Line Items]
Long-term Debt			592,000,000	0
Senior Notes [Member] | Senior Notes due 2029, 5.25% [Member]
Debt Instruments [Line Items]
Long-term Debt			$ 592,000,000	0
Senior Notes [Member] | Senior Notes due 2034 5 point 4 percent [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			5.40%
Long-term Debt			$ 741,000,000	741,000,000
Senior Notes [Member] | 5.450% Senior Notes due March 2043 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			5.45%
Long-term Debt			$ 1,844,000,000	1,843,000,000
Other Debt [Member]
Debt Instruments [Line Items]
Long-term Debt			41,000,000	166,000,000
Revolving Credit Facility [Member] | Line of Credit [Member]
Debt Instruments [Line Items]
Long-term Debt			0	0
Line of Credit Facility, Remaining Borrowing Capacity			3,500,000,000
Line of Credit Facility, Maximum Borrowing Capacity	$ 3,500,000,000
Letter of Credit [Member] | Line of Credit [Member]
Debt Instruments [Line Items]
Long-term Line of Credit			13,000,000
Line of Credit Facility, Remaining Borrowing Capacity			1,500,000,000
Cerro Verde | Shareholder Loan [Member]
Debt Instruments [Line Items]
Long-term Debt			0
Cerro Verde | Line of Credit [Member]
Debt Instruments [Line Items]
Long-term Debt			$ 826,000,000	1,023,000,000
Cerro Verde | Line of Credit [Member] | Line of Credit [Member]
Debt Instruments [Line Items]
Long-term Debt						$ 1,500,000,000	$ 1,275,000,000
Line of Credit Facility, Maximum Borrowing Capacity		$ 1,800,000,000
Term of Debt Agreement		5 years
Freeport-McMoRan Oil & Gas | Senior Notes [Member] | 6.125% Senior Notes due 2019 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			6.125%
Freeport-McMoRan Oil & Gas | Senior Notes [Member] | 6.5% Senior Notes due 2020 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			6.50%
Freeport-McMoRan Oil & Gas | Senior Notes [Member] | 6.625% Senior Notes due 2021 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			6.625%
Freeport-McMoRan Oil & Gas | Senior Notes [Member] | 6.75% Senior Notes due 2022 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			6.75%
Freeport-McMoRan Oil & Gas | Senior Notes [Member] | 6.875% Senior Notes due 2023 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			6.875%
Freeport McMoRan Corporation [Member] | Senior Notes [Member] | Senior Notes Due 2031 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			9.50%
Long-term Debt			$ 125,000,000	126,000,000
Freeport McMoRan Corporation [Member] | Senior Notes [Member] | Senior Notes Due 2034 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			6.125%
Long-term Debt			$ 117,000,000	117,000,000
Freeport McMoRan Corporation [Member] | Debentures [Member] | Debentures Due 2027 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			7.125%
Long-term Debt			$ 115,000,000	115,000,000
Debt Instrument, Payment Period One [Member] | Cerro Verde | Line of Credit [Member] | Line of Credit [Member]
Debt Instruments [Line Items]
Debt Instrument, Periodic Payment			225,000,000
Debt Instrument, Payment Period Three [Member] | Cerro Verde | Line of Credit [Member] | Line of Credit [Member]
Debt Instruments [Line Items]
Debt Instrument, Periodic Payment			525,000,000
Repayments of Lines of Credit			$ 200,000,000	$ 20,000,000

DEBT - Schedule of Senior Notes

DEBT - Schedule of Senior Notes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Aug. 15, 2019
Debt Instruments [Line Items]
Gain (Loss) on Extinguishment of Debt	$ (27)	$ 7	$ 21
Liabilities, Fair Value Adjustment	11	58
Long-term Debt	9,826	11,141
Debt Issuance Costs, Net	$ 66	69
Senior Notes due 2027, 5% [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	5.00%			5.00%
Long-term Debt				$ 600
Senior Notes Due 2023 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage				6.875%
Senior Notes due 2029, 5.25% [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	5.25%			5.25%
Long-term Debt				$ 600
Senior Notes [Member]
Debt Instruments [Line Items]
Extinguishment Of Debt, Redemption Value	$ 2,201	470	1,257
Gain (Loss) on Extinguishment of Debt	26	(10)	(26)
Debt Instrument, Face Amount	2,145	454	1,234
Extinguishment of Debt, Amount	2,175	480	1,283
Senior Notes [Member] | Senior Notes due 2027, 5% [Member]
Debt Instruments [Line Items]
Long-term Debt	592	0
Senior Notes [Member] | 3.100% Senior Notes due March 2020
Debt Instruments [Line Items]
Extinguishment Of Debt, Redemption Value	1,003
Gain (Loss) on Extinguishment of Debt	$ 5
Debt Instrument, Interest Rate, Stated Percentage	3.10%
Debt Instrument, Face Amount	$ 1,000
Long-term Debt	0	$ 999
Extinguishment of Debt, Amount	998
Senior Notes [Member] | Senior Notes Due 2023 [Member]
Debt Instruments [Line Items]
Extinguishment Of Debt, Redemption Value	768
Gain (Loss) on Extinguishment of Debt	6
Debt Instrument, Face Amount	728
Extinguishment of Debt, Amount	$ 762
Senior Notes [Member] | 6.125% Senior Notes due 2019 [Member]
Debt Instruments [Line Items]
Extinguishment Of Debt, Redemption Value			182
Gain (Loss) on Extinguishment of Debt			(2)
Debt Instrument, Interest Rate, Stated Percentage	6.125%	6.125%
Debt Instrument, Face Amount			179
Extinguishment of Debt, Amount			184
Senior Notes [Member] | 6.5% Senior Notes due 2020 [Member]
Debt Instruments [Line Items]
Extinguishment Of Debt, Redemption Value			562
Gain (Loss) on Extinguishment of Debt			(13)
Debt Instrument, Interest Rate, Stated Percentage	6.50%	6.50%
Debt Instrument, Face Amount			552
Extinguishment of Debt, Amount			575
Senior Notes [Member] | 6.625% Senior Notes due 2021 [Member]
Debt Instruments [Line Items]
Extinguishment Of Debt, Redemption Value			234
Gain (Loss) on Extinguishment of Debt			(6)
Debt Instrument, Interest Rate, Stated Percentage	6.625%	6.625%
Debt Instrument, Face Amount			228
Extinguishment of Debt, Amount			$ 240
Senior Notes [Member] | 6.75% Senior Notes due 2022 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.75%	6.75%
Senior Notes [Member] | 3.55% Senior Notes Due 2022 [Member]
Debt Instruments [Line Items]
Extinguishment Of Debt, Redemption Value	$ 12
Gain (Loss) on Extinguishment of Debt	$ 0
Debt Instrument, Interest Rate, Stated Percentage	3.55%
Debt Instrument, Face Amount	$ 12
Long-term Debt	1,876	$ 1,886
Extinguishment of Debt, Amount	12
Senior Notes [Member] | Senior Notes due 2029, 5.25% [Member]
Debt Instruments [Line Items]
Long-term Debt	$ 592	$ 0
Freeport-McMoRan Oil & Gas | Senior Notes [Member] | 6.125% Senior Notes due 2019 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.125%
Freeport-McMoRan Oil & Gas | Senior Notes [Member] | 6.5% Senior Notes due 2020 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.50%
Freeport-McMoRan Oil & Gas | Senior Notes [Member] | 6.625% Senior Notes due 2021 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.625%
Freeport-McMoRan Oil & Gas | Senior Notes [Member] | 6.75% Senior Notes due 2022 [Member]
Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.75%

DEBT - Debt Extinguishment (Det

DEBT - Debt Extinguishment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Debt Instruments [Line Items]
Gain (Loss) on Extinguishment of Debt	$ (27)	$ 7	$ 21
Senior Notes [Member]
Debt Instruments [Line Items]
Debt Instrument, Face Amount	2,145	454	1,234
DebtIssuanceCostsandFairValueAdjustments	30	26	49
Extinguishment of Debt, Amount	2,175	480	1,283
Extinguishment Of Debt, Redemption Value	2,201	470	1,257
Gain (Loss) on Extinguishment of Debt	26	(10)	(26)
Senior Notes [Member] | 3.100% Senior Notes due March 2020 [Member]
Debt Instruments [Line Items]
Debt Instrument, Face Amount	1,000
DebtIssuanceCostsandFairValueAdjustments	(2)
Extinguishment of Debt, Amount	998
Extinguishment Of Debt, Redemption Value	1,003
Gain (Loss) on Extinguishment of Debt	5
Senior Notes [Member] | Senior Notes Due 2022 [Member]
Debt Instruments [Line Items]
Debt Instrument, Face Amount		404
DebtIssuanceCostsandFairValueAdjustments		22
Extinguishment of Debt, Amount		426
Extinguishment Of Debt, Redemption Value		418
Gain (Loss) on Extinguishment of Debt		(8)
Senior Notes [Member] | 2.375% Senior Notes due March 2018 [Member]
Debt Instruments [Line Items]
Debt Instrument, Face Amount			74
DebtIssuanceCostsandFairValueAdjustments			0
Extinguishment of Debt, Amount			74
Extinguishment Of Debt, Redemption Value			74
Gain (Loss) on Extinguishment of Debt			0
Senior Notes [Member] | 6.125% Senior Notes due 2019 [Member]
Debt Instruments [Line Items]
Debt Instrument, Face Amount			179
DebtIssuanceCostsandFairValueAdjustments			5
Extinguishment of Debt, Amount			184
Extinguishment Of Debt, Redemption Value			182
Gain (Loss) on Extinguishment of Debt			(2)
Senior Notes [Member] | 6.5% Senior Notes due 2020 [Member]
Debt Instruments [Line Items]
Debt Instrument, Face Amount			552
DebtIssuanceCostsandFairValueAdjustments			23
Extinguishment of Debt, Amount			575
Extinguishment Of Debt, Redemption Value			562
Gain (Loss) on Extinguishment of Debt			(13)
Senior Notes [Member] | 6.625% Senior Notes due 2021 [Member]
Debt Instruments [Line Items]
Debt Instrument, Face Amount			228
DebtIssuanceCostsandFairValueAdjustments			12
Extinguishment of Debt, Amount			240
Extinguishment Of Debt, Redemption Value			234
Gain (Loss) on Extinguishment of Debt			(6)
Senior Notes [Member] | 3.55% Senior Notes Due 2022 [Member]
Debt Instruments [Line Items]
Debt Instrument, Face Amount	12
DebtIssuanceCostsandFairValueAdjustments	0
Extinguishment of Debt, Amount	12
Extinguishment Of Debt, Redemption Value	12
Gain (Loss) on Extinguishment of Debt	0
Senior Notes [Member] | 6.875% Senior Notes due 2023 [Member]
Debt Instruments [Line Items]
Debt Instrument, Face Amount		50
DebtIssuanceCostsandFairValueAdjustments		4
Extinguishment of Debt, Amount		54
Extinguishment Of Debt, Redemption Value		52
Gain (Loss) on Extinguishment of Debt		$ (2)
Senior Notes [Member] | Senior Notes Due 2023 [Member]
Debt Instruments [Line Items]
Debt Instrument, Face Amount	728
DebtIssuanceCostsandFairValueAdjustments	34
Extinguishment of Debt, Amount	762
Extinguishment Of Debt, Redemption Value	768
Gain (Loss) on Extinguishment of Debt	6
Senior Notes [Member] | Senior Notes Due 2021 [Member]
Debt Instruments [Line Items]
Debt Instrument, Face Amount	405
DebtIssuanceCostsandFairValueAdjustments	(2)
Extinguishment of Debt, Amount	403
Extinguishment Of Debt, Redemption Value	418
Gain (Loss) on Extinguishment of Debt	$ 15
Freeport-McMoRan Oil & Gas LLC [Member] | Senior Notes [Member] | 6.125% Senior Notes due 2019 [Member]
Debt Instruments [Line Items]
Debt Instrument, Face Amount			58
DebtIssuanceCostsandFairValueAdjustments			2
Extinguishment of Debt, Amount			60
Extinguishment Of Debt, Redemption Value			59
Gain (Loss) on Extinguishment of Debt			(1)
Freeport-McMoRan Oil & Gas LLC [Member] | Senior Notes [Member] | 6.5% Senior Notes due 2020 [Member]
Debt Instruments [Line Items]
Debt Instrument, Face Amount			65
DebtIssuanceCostsandFairValueAdjustments			3
Extinguishment of Debt, Amount			68
Extinguishment Of Debt, Redemption Value			66
Gain (Loss) on Extinguishment of Debt			(2)
Freeport-McMoRan Oil & Gas LLC [Member] | Senior Notes [Member] | 6.625% Senior Notes due 2021 [Member]
Debt Instruments [Line Items]
Debt Instrument, Face Amount			33
DebtIssuanceCostsandFairValueAdjustments			2
Extinguishment of Debt, Amount			35
Extinguishment Of Debt, Redemption Value			34
Gain (Loss) on Extinguishment of Debt			(1)
Freeport-McMoRan Oil & Gas LLC [Member] | Senior Notes [Member] | 6.75% Senior Notes due 2022 [Member]
Debt Instruments [Line Items]
Debt Instrument, Face Amount			45
DebtIssuanceCostsandFairValueAdjustments			2
Extinguishment of Debt, Amount			47
Extinguishment Of Debt, Redemption Value			46
Gain (Loss) on Extinguishment of Debt			$ (1)

DEBT - Maturities (Details)

DEBT - Maturities (Details) $ in Millions	Dec. 31, 2019USD ($)
Debt Disclosure [Abstract]
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months	$ 12
Long-term Debt, Maturities, Repayments of Principal in Year Two	507
Long-term Debt, Maturities, Repayments of Principal in Year Three	2,400
Long-term Debt, Maturities, Repayments of Principal in Year Four	1,900
Long-term Debt, Maturities, Repayments of Principal in Year Five	850
Long-term Debt, Maturities, Repayments of Principal after Year Five	$ 4,200

OTHER LIABILITIES, INCLUDING _3

OTHER LIABILITIES, INCLUDING EMPLOYEE BENEFITS OTHER LIABILITEIS, INCLUDING EMPLOYEE BENEFIT (Components of Other Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Other Liabilities, Including Employee Benefits [Abstract]
Pension, postretirement, postemployment and other employment benefits	$ 1,318	$ 1,174
Estimated Litigation Liability	502	631
Provision for tax positions	255	230
Operating Lease, Liability, Noncurrent	204	0
Other	212	195
Total other liabilities	$ 2,491	$ 2,230

OTHER LIABILITIES, INCLUDING _4

OTHER LIABILITIES, INCLUDING EMPLOYEE BENEFITS (Penion Plans) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)Rp / $	Dec. 31, 2018USD ($)Rp / $	Dec. 31, 2017USD ($)
Domestic Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation	$ 2,576	$ 2,230	$ 2,343
Discount rate	3.40%	4.40%	3.70%
Expected return on plan assets	6.25%
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss)	$ (328)	$ 124
Service cost	42	44	$ 44
Interest cost	95	84	91
Defined Benefit Plan, Benefit Obligation, Foreign Currency Translation Gain (Loss)	(1)	1
Defined Benefit Plan, Benefit Obligation, Benefits Paid	120	120
Total pension plan net assets	1,677	1,433	1,588
Actual return on plan assets	289	(104)
Employer contributions	74	70
Foreign exchange gains (losses)	1	(1)
Defined Benefit Plan, Plan Assets, Benefits Paid	120	120
Defined Benefit Plan, Funded (Unfunded) Status of Plan	(899)	(797)
Accumulated benefit obligation	$ 2,414	$ 2,101
Rate of compensation increase	3.25%	3.25%
Other assets	$ 8	$ 7
Accounts payable and accrued liabilities	4	4
Liability, Defined Benefit Plan, Noncurrent	903	800
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position	$ (899)	(797)
Domestic Plan [Member] | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage of assets	42.00%
Domestic Plan [Member] | Fixed Income Investments
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage of assets	50.00%
Domestic Plan [Member] | Alternative Investments
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage of assets	8.00%
SERP
Defined Benefit Plan Disclosure [Line Items]
Years of service required for annuity to equal percentage of executive's highest average compensation for any consecutive three-year period during the preceeding five years before retirement	25 years
Foreign Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation	$ 217	$ 220	$ 240
Discount rate	7.25%	8.25%	6.75%
Expected return on plan assets	7.75%
Foreign currency exchange rate | Rp / $	13,832	14,409
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss)	$ 27	$ 19
Service cost	12	13	$ 20
Interest cost	17	14	23
Defined Benefit Plan, Benefit Obligation, Foreign Currency Translation Gain (Loss)	(8)	15
Defined Benefit Plan, Benefit Obligation, Benefits Paid	13	13
Total pension plan net assets	254	238	$ 269
Actual return on plan assets	19	(5)
Employer contributions	0	4
Foreign exchange gains (losses)	10	(17)
Defined Benefit Plan, Plan Assets, Benefits Paid	13	13
Defined Benefit Plan, Funded (Unfunded) Status of Plan	37	18
Accumulated benefit obligation	$ 175	$ 181
Rate of compensation increase	4.00%	4.00%
Other assets	$ 37	$ 18
Accounts payable and accrued liabilities	0	0
Liability, Defined Benefit Plan, Noncurrent	0	0
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position	37	18
FCX [Member] | Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Plan Amendment	0	4
PT Freeport Indonesia, Subsidiary | Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Plan Amendment	$ 0	0
Measurement Input, Census Data [Member] | Domestic Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss)		(33)
Measurement Input, Mortality Rate [Member] | Domestic Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss)		(49)
Measurement Input, Discount Rate [Member] | Domestic Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss)		$ (205)

OTHER LIABILITIES, INCLUDING _5

OTHER LIABILITIES, INCLUDING EMPLOYEE BENEFITS (Schedule of Disclosures) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)Rp / $	Dec. 31, 2018USD ($)Rp / $	Dec. 31, 2017USD ($)
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Abstract]
Projected benefit obligation	$ 2,522	$ 2,177
Accumulated benefit obligation	2,361	2,048
Fair value of plan assets	1,615	1,373
Amounts recognized in other comprehensive loss (income) [Abstract]
Actuarial net loss (gain), net of tax	116	77	$ (14)
Prior service (credit) cost, net of tax	0	4	0
Domestic Plan [Member]
Change in benefit obligation:
Benefit obligation at beginning of year	2,230	2,343
Service cost	42	44	44
Interest cost	95	84	91
Actuarial losses (gains)	328	(124)
Foreign exchange losses (gains)	1	(1)
Defined Benefit Plan, Benefit Obligation, Benefits Paid	120	120
Benefits obligation at end of year	2,576	2,230	2,343
Change in plan assets:
Fair value of plan assets at beginning of year	1,433	1,588
Actual return on plan assets	289	(104)
Employer contributions	74	70
Foreign exchange gains (losses)	1	(1)
Benefits and administrative expenses paid	(120)	(120)
Fair value of plan assets at end of year	1,677	1,433	$ 1,588
Funded status at end of year	(899)	(797)
Accumulated benefit obligation	$ 2,414	$ 2,101
Weighted-average assumptions used to determine benefit obligations [Abstract]
Discount rate	3.40%	4.40%	3.70%
Rate of compensation increase	3.25%	3.25%
Balance sheet classification of funded status:
Other assets	$ 8	$ 7
Accounts payable and accrued liabilities	(4)	(4)
Other liabilities	(903)	(800)
Total	(899)	$ (797)
Estimated future employer contributions in next fiscal year	$ 132
Weighted-average assumptions used to determine benefit obligations [Abstract]
Discount rate	4.40%	3.70%	4.40%
Expected return on plan assets	6.50%	6.50%	7.00%
Rate of compensation increase	3.25%	3.25%	3.25%
Components of net periodic benefit (income) cost and other amounts recognized in other comprehensive income [Abstract]
Service cost	$ 42	$ 44	$ 44
Interest cost	95	84	91
Expected return on plan assets	(90)	(101)	(93)
Amortization of net actuarial losses	48	49	49
Net periodic benefit cost	$ 95	76	91
SERP
Defined Benefit Plan Disclosure [Line Items]
Years of service required for annuity to equal percentage of executive's highest average compensation for any consecutive three-year period during the preceeding five years before retirement	25 years
Foreign Plan [Member]
Change in benefit obligation:
Benefit obligation at beginning of year	$ 220	240
Service cost	12	13	20
Interest cost	17	14	23
Actuarial losses (gains)	(27)	(19)
Foreign exchange losses (gains)	8	(15)
Defined Benefit Plan, Benefit Obligation, Benefits Paid	13	13
Benefits obligation at end of year	217	220	240
Change in plan assets:
Fair value of plan assets at beginning of year	238	269
Actual return on plan assets	19	(5)
Employer contributions	0	4
Foreign exchange gains (losses)	10	(17)
Benefits and administrative expenses paid	(13)	(13)
Fair value of plan assets at end of year	254	238	$ 269
Funded status at end of year	37	18
Accumulated benefit obligation	$ 175	$ 181
Weighted-average assumptions used to determine benefit obligations [Abstract]
Discount rate	7.25%	8.25%	6.75%
Rate of compensation increase	4.00%	4.00%
Balance sheet classification of funded status:
Other assets	$ 37	$ 18
Accounts payable and accrued liabilities	0	0
Other liabilities	0	0
Total	37	$ 18
Estimated future employer contributions in next fiscal year	$ 2
Foreign currency exchange rate | Rp / $	13,832	14,409
Weighted-average assumptions used to determine benefit obligations [Abstract]
Discount rate	8.25%	6.75%	8.25%
Expected return on plan assets	8.25%	6.75%	7.75%
Rate of compensation increase	4.00%	4.00%	8.00%
Components of net periodic benefit (income) cost and other amounts recognized in other comprehensive income [Abstract]
Service cost	$ 12	$ 13	$ 20
Interest cost	17	14	23
Expected return on plan assets	(17)	(19)	(21)
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	1	2	2
Amortization of net actuarial losses	(1)	(1)	0
Defined Benefit Plan, Accumulated Benefit Obligation, (Increase) Decrease for Settlement and Curtailment	0	0	4
Net periodic benefit cost	12	9	$ 28
Pension Plan
Amounts recognized in other comprehensive loss (income) [Abstract]
Actuarial net loss (gain), Before Taxes	710	659
Prior service (credit), Before Taxes	11	13
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Tax	721	672
Actuarial net loss (gain), net of tax	604	539
Prior service (credit) cost, net of tax	6	8
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax	$ 610	547
Measurement Input, Census Data [Member] | Domestic Plan [Member]
Change in benefit obligation:
Actuarial losses (gains)		$ 33

OTHER LIABILITIES, INCLUDING _6

OTHER LIABILITIES, INCLUDING EMPLOYEE BENEFITS (Schedule of FV of Financial Assets for Pension Plans) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Domestic Plan [Member]
Fair value of plan assets measurement [Line items]
Total pension plan net assets	$ 1,677	$ 1,433	$ 1,588
Domestic Plan [Member] | Global equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	425	291
NAV	425	291
Domestic Plan [Member] | Fixed income securities
Fair value of plan assets measurement [Line items]
Total pension plan net assets	239	144
NAV	239	144
Domestic Plan [Member] | Global fixed income securities
Fair value of plan assets measurement [Line items]
Total pension plan net assets		108
NAV		108
Domestic Plan [Member] | Real estate property
Fair value of plan assets measurement [Line items]
Total pension plan net assets	58	55
NAV	58	55
Domestic Plan [Member] | Emerging markets equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets		71
NAV		71
Domestic Plan [Member] | U.S. small-cap equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	67	54
NAV	67	54
Domestic Plan [Member] | International small-cap equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	55	47
NAV	55	47
Domestic Plan [Member] | U.S. real estate securities
Fair value of plan assets measurement [Line items]
Total pension plan net assets	53	41
NAV	53	41
Domestic Plan [Member] | Short-term investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	16	15
NAV	16	15
Domestic Plan [Member] | Government bonds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	279	224
NAV	0	0
Domestic Plan [Member] | Corporate bonds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	256	211
NAV	0	0
Domestic Plan [Member] | Global large-cap equity securities [Domain]
Fair value of plan assets measurement [Line items]
Total pension plan net assets	107	94
NAV	0	0
Domestic Plan [Member] | Private equity investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	11	15
NAV	11	15
Domestic Plan [Member] | Other investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	64	61
NAV	0	0
Domestic Plan [Member] | Total investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	1,630	1,431
NAV	924	841
Domestic Plan [Member] | Cash and receivables
Fair value of plan assets measurement [Line items]
Total pension plan net assets	86	32
Domestic Plan [Member] | Payables
Fair value of plan assets measurement [Line items]
Total pension plan net assets	(39)	(30)
Domestic Plan [Member] | Level 1 | Global equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 1 | Fixed income securities
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 1 | Global fixed income securities
Fair value of plan assets measurement [Line items]
Total pension plan net assets		0
Domestic Plan [Member] | Level 1 | Real estate property
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 1 | Emerging markets equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets		0
Domestic Plan [Member] | Level 1 | U.S. small-cap equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 1 | International small-cap equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 1 | U.S. real estate securities
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 1 | Short-term investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 1 | Government bonds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 1 | Corporate bonds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 1 | Global large-cap equity securities [Domain]
Fair value of plan assets measurement [Line items]
Total pension plan net assets	107	94
Domestic Plan [Member] | Level 1 | Private equity investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 1 | Other investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	14	16
Domestic Plan [Member] | Level 1 | Total investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	121	110
Domestic Plan [Member] | Level 2 | Global equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 2 | Fixed income securities
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 2 | Global fixed income securities
Fair value of plan assets measurement [Line items]
Total pension plan net assets		0
Domestic Plan [Member] | Level 2 | Real estate property
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 2 | Emerging markets equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets		0
Domestic Plan [Member] | Level 2 | U.S. small-cap equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 2 | International small-cap equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 2 | U.S. real estate securities
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 2 | Short-term investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 2 | Government bonds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	279	224
Domestic Plan [Member] | Level 2 | Corporate bonds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	256	211
Domestic Plan [Member] | Level 2 | Global large-cap equity securities [Domain]
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 2 | Private equity investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 2 | Other investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	50	45
Domestic Plan [Member] | Level 2 | Total investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	585	480
Domestic Plan [Member] | Level 3 | Global equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 3 | Fixed income securities
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 3 | Global fixed income securities
Fair value of plan assets measurement [Line items]
Total pension plan net assets		0
Domestic Plan [Member] | Level 3 | Real estate property
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 3 | Emerging markets equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets		0
Domestic Plan [Member] | Level 3 | U.S. small-cap equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 3 | International small-cap equity
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 3 | U.S. real estate securities
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 3 | Short-term investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 3 | Government bonds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 3 | Corporate bonds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 3 | Global large-cap equity securities [Domain]
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 3 | Private equity investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 3 | Other investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Domestic Plan [Member] | Level 3 | Total investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Foreign Plan [Member]
Fair value of plan assets measurement [Line items]
Total pension plan net assets	254	238	$ 269
Foreign Plan [Member] | Total investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	190	164
Foreign Plan [Member] | Common Stock
Fair value of plan assets measurement [Line items]
Total pension plan net assets	80	72
Foreign Plan [Member] | Government bonds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	93	72
Foreign Plan [Member] | Mutual funds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	17	20
Foreign Plan [Member] | Cash and receivables
Fair value of plan assets measurement [Line items]
Total pension plan net assets	65	75
Foreign Plan [Member] | Payables
Fair value of plan assets measurement [Line items]
Total pension plan net assets	(1)			$ (1)
Foreign Plan [Member] | Level 1 | Total investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	190	164
Foreign Plan [Member] | Level 1 | Common Stock
Fair value of plan assets measurement [Line items]
Total pension plan net assets	80	72
Foreign Plan [Member] | Level 1 | Government bonds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	93	72
Foreign Plan [Member] | Level 1 | Mutual funds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	17	20
Foreign Plan [Member] | Level 2 | Total investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Foreign Plan [Member] | Level 2 | Common Stock
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Foreign Plan [Member] | Level 2 | Government bonds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Foreign Plan [Member] | Level 2 | Mutual funds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Foreign Plan [Member] | Level 3 | Total investments
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Foreign Plan [Member] | Level 3 | Common Stock
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Foreign Plan [Member] | Level 3 | Government bonds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	0	0
Foreign Plan [Member] | Level 3 | Mutual funds
Fair value of plan assets measurement [Line items]
Total pension plan net assets	$ 0	$ 0

OTHER LIABILITIES, INCLUDING _7

OTHER LIABILITIES, INCLUDING EMPLOYEE BENEFITS (Expected Benefit Payments) (Details) $ in Millions	Dec. 31, 2019USD ($)
Domestic Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
2019	$ 120
2020	166
2021	127
2022	129
2023	131
2024 through 2028	679
Foreign Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
2019	12
2020	19
2021	22
2022	30
2023	32
2024 through 2028	$ 155

OTHER LIABILITIES, INCLUDING _8

OTHER LIABILITIES, INCLUDING EMPLOYEE BENEFITS (Postretirement and Other Benefits) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Selling, general and administrative expenses	$ 414	$ 443	$ 477
Postemployment Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Accounts payable and accrued liabilities	7	6
Other non-current liabilities	44	39
Postretirement Medical and Life Insurance Benefit Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Accounts payable and accrued liabilities	13	13
Other non-current liabilities	$ 112	$ 115
Discount rate	3.00%	4.20%
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]
2019	$ 13
2020	12
2021	11
2022	11
2023	10
2024 through 2028	42
Net periodic benefit cost	$ 4	$ 5
Discount rate	4.20%	3.50%	3.80%
Health care cost trend rates for the next fiscal year	7.75%
Ultimate health care cost trend rate	4.25%

OTHER LIABILITIES, INCLUDING _9

OTHER LIABILITIES, INCLUDING EMPLOYEE BENEFITS (Defined Contribution Plan) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Contribution Plan Disclosure [Line Items]
Liabilities	$ 23,361	$ 24,324
Other liabilities	2,491	2,230
Costs charged to operations for employee savings plans and defined contribution plans	85	75	$ 65
401K Plan
Defined Contribution Plan Disclosure [Line Items]
Liabilities	$ 46	$ 45

OTHER LIABILITIES, INCLUDING_10

OTHER LIABILITIES, INCLUDING EMPLOYEE BENEFITS (Restructuring Charges) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Restructuring Cost and Reserve [Line Items]
Selling, general and administrative expenses	$ 414	$ 443	$ 477
One-time Termination Benefits
Restructuring Cost and Reserve [Line Items]
Production and delivery			120
Selling, general and administrative expenses			5
Foreign Plan [Member]
Restructuring Cost and Reserve [Line Items]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Curtailment			(4)
Indonesia | Operating Segments | Grasberg Segment [Member]
Restructuring Cost and Reserve [Line Items]
Selling, general and administrative expenses	$ 125	$ 123	$ 126

STOCKHOLDERS' EQUITY AND STOC_3

STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION (Common Stock) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	Dec. 18, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Class of Stock [Line Items]
Authorized shares of capital stock		3,050
Authorized shares of common stock		3,000
Authorized shares of preferred stock		50
Proceeds from sale of common stock			$ 3,500
Dividends declared per share of common stock (in dollars per share)	$ 0.05	$ 0.20	$ 0.20	$ 0

STOCKHOLDERS' EQUITY AND STOC_4

STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION (Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance, stockholders' equity	$ 9,798
Ending balance, stockholders' equity	9,298	$ 9,798
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption		(79)
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), after Reclassification Adjustment, before Tax	(111)	(87)	$ 52
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance, stockholders' equity	(615)	(494)	(554)
OCI, before Reclassifications, Net of Tax, Attributable to Parent	(118)	(84)	7
Other Comprehensive Income (Loss), Reclassification, Pension and Other Postretirement Benefit Plans, Net Gain (Loss) Recognized in Net Periodic Benefit Cost, Net of Tax	47	48	53
Ending balance, stockholders' equity	(686)	(615)	(494)
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption		0
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance, stockholders' equity	0	(3)	(4)
OCI, before Reclassifications, Net of Tax, Attributable to Parent	0	0	1
Other Comprehensive Income (Loss), Reclassification, Pension and Other Postretirement Benefit Plans, Net Gain (Loss) Recognized in Net Periodic Benefit Cost, Net of Tax	0	3	0
Ending balance, stockholders' equity	0	0	(3)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption		0
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance, stockholders' equity	10	10	10
OCI, before Reclassifications, Net of Tax, Attributable to Parent	0	0	0
Other Comprehensive Income (Loss), Reclassification, Pension and Other Postretirement Benefit Plans, Net Gain (Loss) Recognized in Net Periodic Benefit Cost, Net of Tax	0	0	0
Ending balance, stockholders' equity	10	10	10
Accumulated Other Comprehensive Loss
Cumulative Effect of New Accounting Principle in Period of Adoption		(79)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance, stockholders' equity	(605)	(487)	(548)
OCI, before Reclassifications, Net of Tax, Attributable to Parent	(118)	(84)	8
Other Comprehensive Income (Loss), Reclassification, Pension and Other Postretirement Benefit Plans, Net Gain (Loss) Recognized in Net Periodic Benefit Cost, Net of Tax	47	51	53
Ending balance, stockholders' equity	(676)	(605)	(487)
Accumulated Defined Benefit Plans Adjustment Attributable to Noncontrolling Interest [Member]
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent	8	(4)	(45)
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other Comprehensive Income (Loss), Reclassification, Pension and Other Postretirement Benefit Plans, Net Gain (Loss) Recognized in Net Periodic Benefit Cost, Net of Tax	$ 0	0	$ (5)
PT Freeport Indonesia [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Actuarial (losses) gains arising during the period, net of taxes		(6)
PT Freeport Indonesia [Member] | AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Actuarial (losses) gains arising during the period, net of taxes		0
PT Freeport Indonesia [Member] | Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Actuarial (losses) gains arising during the period, net of taxes		0
PT Freeport Indonesia [Member] | Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Actuarial (losses) gains arising during the period, net of taxes		$ (6)

STOCKHOLDERS' EQUITY AND STOC_5

STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION (Details) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common shares available for issuance under each of the stock award plans	72
Number of shares available for grant	46.9
Total stock-based compensation	$ 63	$ 74	$ 71
Tax benefit of compensation costs	(4)	(4)	(4)
Impact on net income	59	70	67
Selling, General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	48	62	55
Cost of Sales
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 15	$ 12	$ 16
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted in period (number of RSUs and PSUs)	0.7	0.5	0.6

STOCKHOLDERS' EQUITY AND STOC_6

STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION (Stock Option and SARs) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Balance at beginning of period (in number of options/units)	46,806,364
Granted (in number of options/units)	6,425,500
Exercised (in number of options/units)	(391,075)
Expired/Forfeited (in number of options/units)	(4,528,736)
Balance at end of period (in number of options/units)	48,312,053	46,806,364
Weighted-average exercise price at beginning of period (in dollars per option)	$ 27.40
Granted, Exercise Price (in dollars per option)	11.88
Exercised, Exercise Price (in dollars per option)	4.72
Expired/Forfeited, Exercise Price (in dollars per option)	20.55
Weighted-average exercise price at end of period (in dollars per option)	$ 26.16	$ 27.40
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	4 years 4 months 24 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	$ 60
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	39,981,705
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$ 28.86
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	3 years 6 months
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	$ 51
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	10 years
Annual vesting percentage	33.00%	25.00%
Total unrecognized compensation cost related to unvested options expected to be recognized over a weighted-average period	$ 23
Weighted-average period used in calculating unrecognized compensation cost, stock options (in years)	1 year 7 months 6 days
Fair value assumptions and methodology [Abstract]
Weighted-average expected volatility	47.80%	46.10%	51.40%
Expected life of options (in years)	6 years 1 month 6 days	5 years 11 months 1 day	5 years 8 months 12 days
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	1.80%	1.20%	0.00%
Risk free interest rate	2.50%	2.60%	2.00%
Weighted-average grant-date fair value (in dollars per option)	$ 4.87	$ 7.84	$ 7.61
Total intrinsic value of options exercised	$ 3	$ 7	$ 5
Fair value of options vested	$ 26	$ 24	$ 25

STOCKHOLDERS' EQUITY AND STOC_7

STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION (Equity RSUs and PSUs) (Details) - USD ($) $ / shares in Units, $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent Addition or Reduction In Restricted Stock Units If Performance Is Below Level Defined In Agreement		25.00%		25.00%
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Granted in period (number of RSUs and PSUs)		700,000	500,000	600,000
Performance Shares [Member] | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		3 years
Performance Share Unit Payout		200.00%		175.00%
Performance Shares [Member] | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Share Unit Payout		0.00%		0.00%
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		3 years
Restricted Stock Units (RSUs) and Performance Share Units (PSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Balance at beginning of period (in number of RSUs and PSUs)		5,804,637
Granted in period (number of RSUs and PSUs)		2,135,224
Vested in Period (number of RSUs and PSUs)		(2,191,743)
Forfeited in Period (number of RSUs and PSUs)		(157,433)
Balance at end of period (in number of RSUs and PSUs)		5,590,685	5,804,637
Beginning Balance - weighted average grant date fair value		$ 19.97
Granted - Weighted average grant date fair value		11.13
Vested - weighted average grant date fair value		14.99
Forfeited - weighted average grant date fair value		17.58
Ending balance - weighted average grant date fair value		$ 18.61	$ 19.97
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding		$ 73
Fair value of RSUs and PSUs granted		24	$ 41	$ 32
Intrinsic value of RSUs and PSUs vested		26	14	45
Total unrecognized compensation cost related to unvested RSUs and PSUs expected to be recognized over a weighted-average period		$ 13
Weighted-average period used in calculating unrecognized compensation cost, RSUs and PSUs (in years)		1 year 8 months 12 days
Outside Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	1 year
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent		$ 0	$ 0	$ 5

STOCKHOLDERS' EQUITY AND STOC_8

STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION (Cash-settled RSUs and PSUs) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Accounts payable and accrued liabilities	$ 2,576	$ 2,625
Cash Settled Restricted Stock Units (RSUs) and Performance Share Units (PSU's) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Balance at beginning of period (in number of RSUs and PSUs)	1,486,866
Granted in period (number of RSUs and PSUs)	819,000
Vested in Period (number of RSUs and PSUs)	(698,817)
Forfeited in Period (number of RSUs and PSUs)	(24,162)
Balance at end of period (in number of RSUs and PSUs)	1,582,887	1,486,866
Beginning Balance - weighted average grant date fair value	$ 15.61
Granted - Weighted average grant date fair value	11.88
Vested - weighted average grant date fair value	13.70
Forfeited - weighted average grant date fair value	14.43
Ending balance - weighted average grant date fair value	$ 14.54	$ 15.61
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding	$ 21
Fair value of RSUs and PSUs granted	10	$ 16	$ 10
Intrinsic value of RSUs and PSUs vested	8	11	$ 24
Other Liabilities	3	3
Accounts payable and accrued liabilities	$ 11	$ 7
Cash Settled Restricted Stock Units (RSUs) and Performance Share Units (PSU's) [Member] | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years

STOCKHOLDERS' EQUITY AND STOC_9

STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION (Other info) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Payment Arrangement [Abstract]
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation	670,508	195,322	1,041,937
Proceeds from Stock Options Exercised	$ 2	$ 8	$ 5
Employee Service Share-based Compensation, Tax Benefit Realized from Exercise of Stock Options (Deprecated 2017-01-31)	1	3	1
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Share-based Liabilities Paid	$ 8	$ 4	$ 15

INCOME TAXES (Income before Inc

INCOME TAXES (Income before Income taxes and equity in affiliated companies' net earnings) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
U.S.	$ (287)	$ 390	$ 20
Foreign	593	3,502	2,882
Income from continuing operations before income taxes and equity in affiliated companies’ net earnings	$ 306	$ 3,892	$ 2,902

INCOME TAXES (Provision for (be

INCOME TAXES (Provision for (benefit from) income taxes) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current Income Tax Expense (Benefit), Continuing Operations [Abstract]
Federal	$ 23	$ (46)	$ 3
State	(3)	(1)	10
Foreign	462	1,445	1,426
Total current	482	1,398	1,439
Deferred income taxes:
Federal	(48)	106	(64)
State	(8)	8	(10)
Foreign	101	102	(89)
Total deferred	45	216	(163)
Adjustments	(12)	(504)	(393)
Operating loss carryforwards	(5)	(119)	0
Provision for income taxes	510	991	883
Tax Cuts and Jobs Act of 2017, change in tax rate, provisional income tax expense (benefit)		29
Tax Cuts and Jobs Act of 2017, provisional income tax expense (benefit)	0	(123)	(393)
Federal Income Tax Expense (Benefit), Continuing Operations		22
Tax Cuts and Jobs Act of 2017, deferred tax assets, existing income tax expense (benefit)			272
Reserve for Taxes, Other than Income Taxes [Member]
Deferred income taxes:
Tax Cuts and Jobs Act of 2017, provisional income tax expense (benefit)	29
Alternative Minimum Tax Credit
Deferred income taxes:
Tax Cuts and Jobs Act of 2017, provisional income tax expense (benefit)		123	121
Minimum Tax Credit Carryforwards [Member]
Deferred income taxes:
Federal Income Tax Expense (Benefit), Continuing Operations		76	$ 438
Foreign Income Tax Expense (Benefit), Continuing Operations		$ 47
Timok, Lower Zone [Member]
Current Income Tax Expense (Benefit), Continuing Operations [Abstract]
Federal	$ 53

INCOME TAXES (Reconciliation of

INCOME TAXES (Reconciliation of U.S. federal statutory rate to effective tax rate) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Amount
U.S. federal statutory tax rate	$ (64)	$ (817)	$ (1,016)
Valuation allowance	(149)	129	28
PT-FI historical contested tax disputes	(145)	0	0
Percentage depletion	118	141	227
Effect of foreign rates different than the U.S. federal statutory rate	(64)	(494)	17
Withholding and other impacts on foreign earnings	(55)	(232)	(216)
Adjustment to deferred taxes	(49)	0	0
Non-deductible permanent differences	(47)	(25)	(31)
Uncertain tax positions	(47)	(7)	(20)
U.S. tax reform	29	94	393
Foreign tax credit limitation	(16)	(195)	(159)
State income taxes	16	7	(5)
Cerro Verde royalty disputef	2	(55)	(129)
Change in PT-FI tax rates	0	504	0
Timok exploration project sale	(15)	0	0
Other items, net	(24)	(41)	28
Provision for income taxes	$ (510)	$ (991)	$ (883)
Percent
U.S. federal statutory tax rate	(21.00%)	(21.00%)	(35.00%)
Valuation allowance	(49.00%)	3.00%	1.00%
PT-FI historical contested tax disputes	(47.00%)	0.00%	0.00%
Percentage depletion	39.00%	4.00%	8.00%
Effect of foreign rates different than the U.S. federal statutory rate	(21.00%)	(13.00%)	1.00%
Withholding and other impacts on foreign earnings	(18.00%)	(6.00%)	(7.00%)
Adjustment to deferred taxes	(16.00%)
Non-deductible permanent differences	15.00%	1.00%	1.00%
Uncertain tax positions	(15.00%)	0.00%	(1.00%)
U.S. tax reform	0.09	0.02	0.14
Foreign tax credit limitation	(5.00%)	(5.00%)	(5.00%)
State income taxes	6.00%	1.00%	(1.00%)
Cerro Verde royalty disputef	1.00%	(1.00%)	(5.00%)
Change in PT-FI tax rates		13.00%
Timok exploration project sale	(5.00%)
Other items, net	(9.00%)	(1.00%)	1.00%
Provision for income taxes	(166.00%)	(25.00%)	(30.00%)
Valuation allowances	$ 4,576	$ 4,507

INCOME TAXES (Narrative) (Detai

INCOME TAXES (Narrative) (Details) - USD ($) $ in Millions	Dec. 30, 2019	Dec. 21, 2018	Jan. 01, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Schedule Of Income Taxes [Line Items]
Total income taxes paid to all jurisdictions				$ 610	$ 2,000	$ 702
Tax refunds received from all jurisdictions				306	108	329
Tax Attributes
Foreign tax credits				1,716	1,814
Valuation allowances				4,576	4,507
Valuation allowance, increase (decrease)				(69)
Tax Cuts and Jobs Act of 2017, provisional income tax expense (benefit)				0	(123)	(393)
Tax Cuts and Jobs Act of 2017, deferred tax assets, existing income tax expense (benefit)						272
Tax Cuts and Jobs Act of 2017, change in tax rate, provisional income tax expense (benefit)					29
Tax Cuts and Jobs Act of 2017, change in deferred tax asset valuation allowance				44	1,100
Income (loss) from continuing operation, foreign				593	3,502	2,882
Income (loss) from continuing operations, domestic				(287)	390	20
Change in PT-FI tax rates				$ 0	$ 504	$ 0
U.S. federal statutory tax rate				21.00%	21.00%	35.00%
Interest on income taxes accrued				$ 231	$ 186	$ 22
Unrecognized tax benefits				376	404	390	$ 101
Unrecognized tax benefits that would impact the effective tax rate				282
Unrecognized tax benefits that would impact the effective tax rate, net of tax benefits				150
PT Freeport Indonesia [Member]
Tax Attributes
Change in PT-FI tax rates				0	504	0
Loss Contingency, Loss in Period, Including Tax Charges				304
Valuation allowance for operating loss carryforwards
Tax Attributes
Valuation allowances				2,200
Foreign Tax Credits
Tax Attributes
Valuation allowance, increase (decrease)				(208)
Net Operating Losses
Tax Attributes
Valuation allowance, increase (decrease)				$ (98)
Tax Authority, In Papua, Indonesia
Tax Attributes
U.S. federal statutory tax rate		25.00%
SUNAT | Cerro Verde
Tax Attributes
Foreign income tax rate under new stability agreement				32.00%
Foreign Tax Authority
Tax Attributes
Tax Credit Carryforward, Valuation Allowance				$ 1,700
Foreign Tax Authority | Tax Authority, In Papua, Indonesia | 2019 and thereafter
Tax Attributes
U.S. federal statutory tax rate				25.00%
Profits income tax rate				10.00%
Foreign Tax Authority | Settlement with Taxing Authority [Member] | Tax Years 2012 to 2018
Tax Attributes
Payments for legal settlements	$ 250
Foreign Tax Authority | Tax Authority, Spain
Tax Attributes
Operating Loss Carryforwards				$ 516
Foreign Tax Authority | Tax Authority, In Papau, Indonesia
Tax Attributes
Operating Loss Carryforwards				$ 1,200
Foreign Tax Authority | Chili - Service of Internal Taxes
Tax Attributes
U.S. federal statutory tax rate				35.00%
Foreign Tax Authority | Chili - Service of Internal Taxes | Prior to September 2014 [Member]
Tax Attributes
U.S. federal statutory tax rate				35.00%
Foreign Tax Authority | Chili - Service of Internal Taxes | 2020 and thereafter
Tax Attributes
U.S. federal statutory tax rate				44.50%
Foreign Tax Authority | Chili - Service of Internal Taxes | Tax years 2017 through 2021 [Member]
Tax Attributes
U.S. federal statutory tax rate				35.00%
Foreign Tax Authority | Chili - Service of Internal Taxes | Tax Year 2022 and Thereafter
Tax Attributes
U.S. federal statutory tax rate				44.50%
Foreign Tax Authority | Chili - Service of Internal Taxes | Tax Years 2013 to 2017
Tax Attributes
Mining royalty tax rate				4.00%
Foreign Tax Authority | Chili - Service of Internal Taxes | Tax Years 2018 to 2023 | Minimum
Tax Attributes
Mining royalty tax rate				5.00%
Foreign Tax Authority | Chili - Service of Internal Taxes | Tax Years 2018 to 2023 | Maximum
Tax Attributes
Mining royalty tax rate				14.00%
Foreign Tax Authority | SUNAT | 2014
Tax Attributes
U.S. federal statutory tax rate				30.00%
Dividend tax rate				4.10%
Foreign Tax Authority | SUNAT | 2019 and thereafter
Tax Attributes
U.S. federal statutory tax rate				26.00%
Dividend tax rate				9.30%
Foreign Tax Authority | SUNAT | Tax Year 2017
Tax Attributes
Dividend tax rate			5.00%
Corporate Income Tax Rate			29.50%
Tax Authority, In Papau, Indonesia
Tax Attributes
Change in PT-FI tax rates					(504)
Tax Authority, In Papau, Indonesia | PT Freeport Indonesia [Member]
Tax Attributes
Change in PT-FI tax rates					(482)
Domestic Tax Authority
Tax Attributes
Operating Loss Carryforwards				$ 5,900
Valuation allowances					671
State and Local Jurisdiction
Tax Attributes
Operating Loss Carryforwards				10,800
Alternative Minimum Tax Credit
Tax Attributes
Tax Cuts and Jobs Act of 2017, provisional income tax expense (benefit)					$ 123	$ 121
Reserve for Taxes, Other than Income Taxes [Member]
Tax Attributes
Tax Cuts and Jobs Act of 2017, provisional income tax expense (benefit)				29
Other (expense) benefit | PT Freeport Indonesia [Member]
Tax Attributes
Loss Contingency, Loss in Period, Including Tax Charges				123
Interest expense | PT Freeport Indonesia [Member]
Tax Attributes
Loss Contingency, Loss in Period, Including Tax Charges				78
Income expense (benefit) | PT Freeport Indonesia [Member]
Tax Attributes
Loss Contingency, Loss in Period, Including Tax Charges				$ 103

INCOME TAXES (Components of def

INCOME TAXES (Components of deferred tax assets and liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets:
Foreign tax credits	$ 1,716	$ 1,814
Accrued expenses	1,108	1,069
Net operating losses	2,249	2,235
Employee benefit plans	198	204
Other	267	270
Deferred tax assets	5,538	5,592
Valuation allowances	(4,576)	(4,507)
Net deferred tax assets	962	1,085
Deferred tax liabilities:
Property, plant, equipment and mine development costs	(4,372)	(4,405)
Undistributed earnings	(639)	(601)
Other	(157)	(107)
Total deferred tax liabilities	(5,168)	(5,113)
Net deferred tax liabilities	$ (4,206)	$ (4,028)

INCOME TAXES (Reserve for unrec

INCOME TAXES (Reserve for unrecognized tax benefits, interest and penalties) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Reconciliation of Unrecognized Tax Benefits [Roll Forward]
Balance at beginning of year	$ 404	$ 390	$ 101
Additions:
Prior year tax positions	73	100	302
Current year tax positions	11	14	6
Decreases:
Prior year tax positions	(75)	(86)	(1)
Settlements with taxing authorities	(37)	(9)	(17)
Lapse of statute of limitations	0	(5)	(1)
Balance at end of year	$ 376	$ 404	$ 390

CONTINGENCIES (Environmental Ob

CONTINGENCIES (Environmental Obligations) (Details) site in Thousands, $ in Millions	Jan. 17, 2017USD ($)sitedivisions	Dec. 31, 2019USD ($)stateproject	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Site Contingency [Line Items]
Number of remediation projects | project		100
Number of US States with remediation projects | state		24
Accrual for Environmental Loss Contingencies [Roll Forward]
Balance at beginning of year		$ 1,511	$ 1,439	$ 1,221
Accretion Expense		102	100	84
Additionsb		23	56	241
Reductions		(1)	0	(43)
Spending		(74)	(84)	(64)
Balance at end of year		1,561	1,511	1,439
Less current portion		(106)	(132)	(134)
Long-term portion		1,455	$ 1,379	1,305
Estimated environmental cash payments (on an undiscounted and unescalated basis) [Abstract]
2020		106
2021		119
2022		95
2023		100
2024		100
Thereafter		2,700
Estimated environmental obligations on a discounted basis		1,400
Estimated environmental obligations on an undiscounted and unescalated		3,200
Environmental Loss Contingency, Number of Uranium Sites on Tribal Lands | divisions	94
Remediation work related to Uranium mines, amount to be contributed by the U.S. Government	$ 335
Uranium mine remediation work, program term, in years	20 years
Number of site surveys being performed to mining claims | site	10
Minimum
Estimated environmental cash payments (on an undiscounted and unescalated basis) [Abstract]
Estimated environmental obligations on an undiscounted and unescalated		2,700
Maximum
Estimated environmental cash payments (on an undiscounted and unescalated basis) [Abstract]
Estimated environmental obligations on an undiscounted and unescalated		3,700
Pinal Creek, AZ; Newtown Creek, NY; Smelter Sites in Arizona, Indiana, Kansas, Missouri, New Jersey, Oklahoma, Pennsylvania; and Uranium Mining in Wester United States
Accrual for Environmental Loss Contingencies [Roll Forward]
Balance at end of year		$ 1,400
Newtown Creek
Accrual for Environmental Loss Contingencies [Roll Forward]
Additionsb				138
Borough of Carteret
Accrual for Environmental Loss Contingencies [Roll Forward]
Additionsb				59
Uranium Mining Sites
Accrual for Environmental Loss Contingencies [Roll Forward]
Reductions				$ (41)

CONTINGENCIES (Asset Retirement

CONTINGENCIES (Asset Retirement Obligations) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Balance at beginning of year	$ 2,547	$ 2,583	$ 2,638
Liabilities incurred	20	1	14
Settlements and revisions to cash flow estimates, net	(5)	50	(112)
Accretion expense	118	110	124
Dispositions	(5)	(37)	(10)
Spending	(170)	(160)	(71)
Balance at end of year	2,505	2,547	2,583
Less current portion	(330)	(317)	(286)
Long-term portion	$ 2,175	$ 2,230	$ 2,297

CONTINGENCIES (Financial Assura

CONTINGENCIES (Financial Assurances) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Freeport-McMoRan Oil & Gas
Guarantor Obligations [Line Items]
Guarantor obligations, carrying value	$ 481
NEW MEXICO
Guarantor Obligations [Line Items]
Legally restricted funds for asset retirement obligations at New Mexico mines	196	$ 180
New Mexico, Arizona, Colorado and Other States
Guarantor Obligations [Line Items]
Guarantor obligations, carrying value	1,300
New Mexico, Arizona, Colorado and Other States | Guarantee
Guarantor Obligations [Line Items]
Guarantor obligations, carrying value	$ 822

CONTINGENCIES (Environmental an

CONTINGENCIES (Environmental and Reclamation Programs) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
New Mexico Environmental And Reclamation Programs
Site Contingency [Line Items]
Accrued reclamation and closure costs	$ 454
Arizona Environmental And Reclamation Programs
Site Contingency [Line Items]
Accrued reclamation and closure costs	345
Colorado Environmental And Reclamation Programs
Site Contingency [Line Items]
Accrued reclamation and closure costs	130
El Abra
Site Contingency [Line Items]
Accrued reclamation and closure costs	62
Cerro Verde
Site Contingency [Line Items]
Accrued reclamation and closure costs	125
Pt Freeport Indonesia Environmental And Reclamation Programs [Member]
Site Contingency [Line Items]
Accrued reclamation and closure costs	936
Mine Closure
Site Contingency [Line Items]
Funding restricted time deposit during period for closure and reclamation guarantees	92
Mine Reclamation
Site Contingency [Line Items]
Funding restricted time deposit during period for closure and reclamation guarantees	$ 8
MOEF Framework
Site Contingency [Line Items]
Permit Fees		$ 32

CONTINGENCIES (Oil and Gas Prop

CONTINGENCIES (Oil and Gas Properties) (Details) $ in Millions	Dec. 31, 2019USD ($)platformwell	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Loss Contingencies [Line Items]
ARO, noncurrent	$ 2,505	$ 2,547	$ 2,583	$ 2,638
Freeport-McMoRan Oil & Gas
Loss Contingencies [Line Items]
Number of productive oil wells | well	210
Number of platforms and other structures | platform	120
ARO, noncurrent	$ 420

CONTINGENCIES (Litigation) (Det

CONTINGENCIES (Litigation) (Details) $ in Thousands	1 Months Ended	3 Months Ended	12 Months Ended
	Sep. 30, 2019USD ($)case	Sep. 30, 2019USD ($)case	Dec. 31, 2023USD ($)	Mar. 13, 2019USD ($)
Louisiana Parishes Coastal Erosion Cases [Member] | Settled Litigation [Member]
Loss Contingencies [Line Items]
Number of cases | case	42	42
FCX Affiliates [Member] | Louisiana Parishes Coastal Erosion Cases [Member] | Settled Litigation [Member]
Loss Contingencies [Line Items]
Number of cases | case	13	13
Settlement amount	$ 23,500
Settlement, initial payment	$ 15,000
Settlement expense		$ 15,000
Johnson & Johnson and Cyprus Mines [Member] | Asbestos Contamination in Talc-Based Personal Care Products [Member] | Pending Litigation [Member] | Damages from Product Defects [Member]
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss				$ 29,000
Cyprus Mines [Member] | Asbestos Contamination in Talc-Based Personal Care Products [Member] | Pending Litigation [Member] | Damages from Product Defects [Member]
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss				$ 2,000
Forecast [Member] | FCX Affiliates [Member] | Louisiana Parishes Coastal Erosion Cases [Member] | Settled Litigation [Member]
Loss Contingencies [Line Items]
Settlement, installment payment			$ 4,250

CONTINGENCIES (Tax and Other Ma

CONTINGENCIES (Tax and Other Matters) (Details) $ in Millions, Rp in Billions	Jan. 01, 2014	Feb. 28, 2021USD ($)	Feb. 28, 2021IDR (Rp)	Oct. 31, 2019USD ($)	Oct. 31, 2019IDR (Rp)	May 31, 2019USD ($)	May 31, 2019IDR (Rp)	Dec. 31, 2018USD ($)	Dec. 31, 2018IDR (Rp)	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 21, 2018USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Income Tax Examination [Line Items]
Provision for income taxes											$ 510	$ 991	$ 883
Net income (Net income from continuing operations attributable to noncontrolling interests											50	292	274
Long-term receivable for taxes								$ 260			290	260			$ 290	$ 260
Other assets								2,172			$ 1,885	2,172			1,885	2,172
Smelter development export duty, threshold											50.00%
Production and delivery											$ 11,514	11,687	10,258
Export Duties Expense											221	180	115
Cerro Verde
Income Tax Examination [Line Items]
Loss contingency, loss in period											(16)
Stability agreement, term	15 years
Provision for income taxes											(2)
Cerro Verde | Tax Year 2012 to Tax Year 2013
Income Tax Examination [Line Items]
Provision for income taxes												17
Gain in period												14
Cerro Verde Royalty Dispute
Income Tax Examination [Line Items]
Payments for legal settlements											187	56	53
Cerro Verde Royalty Dispute | Cerro Verde | Royalty Assessments
Income Tax Examination [Line Items]
Provision for income taxes											(2)	(35)	7		(30)
Net income (Net income from continuing operations attributable to noncontrolling interests											(7)	(176)	(169)		(352)
Production and delivery											6	14	203		223
Cerro Verde Royalty Dispute | Cerro Verde | December 2006 to Tax Year 2013 | Royalty Assessments
Income Tax Examination [Line Items]
Provision for income taxes													(129)
Surface Water Taxes, Papua, Indonesia [Member]
Income Tax Examination [Line Items]
Production and delivery						$ 28		69
Judicial Ruling | Cerro Verde Royalty Dispute | Tax Year 2006 To Tax Year 2008 | Royalty Assessments
Income Tax Examination [Line Items]
Payments for legal settlements																354
Judicial Ruling | Cerro Verde Royalty Dispute | December 2006 to Tax Year 2013 | Unfavorable Regulatory Actions
Income Tax Examination [Line Items]
Loss contingency, loss in period													(348)
Loss contingency, loss in period, including tax charges													(186)
Provision for income taxes												35	7
Net income (Net income from continuing operations attributable to noncontrolling interests													(169)
Judicial Ruling | Cerro Verde Royalty Dispute | Tax Year 2009 to Tax Year 2013 | Unfavorable Regulatory Actions
Income Tax Examination [Line Items]
Loss contingency, loss in period												(420)
Loss contingency, loss in period, including tax charges												(211)
Provision for income taxes												(18)
Net income (Net income from continuing operations attributable to noncontrolling interests												(191)
PT-FI
Income Tax Examination [Line Items]
Loss contingency, loss in period, including tax charges											$ (304)
Progressive export duty on copper concentrates, lower threshold, percent											2.50%
Progressive export duty on copper concentrates, higher threshold, percent											5.00%			7.50%
Export Duties Expense											$ 66	180	$ 115
PT-FI | Surface Water Taxes, Papua, Indonesia [Member]
Income Tax Examination [Line Items]
Loss contingency, loss in period, including tax charges											(28)
SUNAT | Cerro Verde | October 2011 to September 2012
Income Tax Examination [Line Items]
Tax refund, requested											57				57
SUNAT | Cerro Verde
Income Tax Examination [Line Items]
Long-term receivable for taxes											397				397
Increase (decrease) in income taxes receivable											210				210
Tax Authority, In Papau, Indonesia | PT-FI | Surface Water Taxes, Papua, Indonesia [Member] | Penalties
Income Tax Examination [Line Items]
Payments for legal settlements				$ 50	Rp 708.5
Settlement amount						$ 99	Rp 1,394		Rp 1,000,000,000,000,000
Indonesian Supreme Court | PT-FI | The year 2005 and the year 2007
Income Tax Examination [Line Items]
Loss contingency, loss in period											(46)	(61)
Cerro Verde
Income Tax Examination [Line Items]
Long-term receivable for taxes								183			187	183			187	183
PT-FI
Income Tax Examination [Line Items]
Long-term receivable for taxes								$ 493			178	493			$ 178	$ 493
FCX | Cerro Verde
Income Tax Examination [Line Items]
Loss contingency, loss in period, including tax charges											(7)
FCX | Cerro Verde | Tax Year 2012 to Tax Year 2013
Income Tax Examination [Line Items]
Gain in period, including tax charges												16
Noncontrolling Interests | Cerro Verde
Income Tax Examination [Line Items]
Net income (Net income from continuing operations attributable to noncontrolling interests											7
Noncontrolling Interests | Cerro Verde | Tax Year 2012 to Tax Year 2013
Income Tax Examination [Line Items]
Net income (Net income from continuing operations attributable to noncontrolling interests												15
Annual Surface Water Tax Payments [Member] | PT-FI
Income Tax Examination [Line Items]
Acquire water systems											15
Forecast [Member] | Tax Authority, In Papau, Indonesia | PT-FI | Surface Water Taxes, Papua, Indonesia [Member] | Penalties
Income Tax Examination [Line Items]
Payments for legal settlements		$ 50	Rp 685.5
Indonesia Tax Authority | PT-FI | Memorandum of Understanding with the Indonesian Government [Member]
Income Tax Examination [Line Items]
Progressive export duty on copper concentrates, lower threshold, percent													5.00%
Progressive export duty on copper concentrates, higher threshold, percent														7.50%
Export Duties Expense														$ 155
Litigation Settlement, Amount Awarded from Other Party												$ 29
Indonesia Tax Authority | PT-FI | Memorandum of Understanding with the Indonesian Government, Indonesia Supreme Court Appeal [Member]
Income Tax Examination [Line Items]
Loss contingency, loss in period										$ (155)	$ (155)
Progressive export duty on copper concentrates, lower threshold, percent											5.00%

CONTINGENCIES (Royalty Dispute

CONTINGENCIES (Royalty Dispute Schedule) (Details) - USD ($) $ in Millions	12 Months Ended			36 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2019
Loss Contingencies [Line Items]
Production and delivery	$ 11,514	$ 11,687	$ 10,258
Interest expense, net	620	945	801
Provision for (benefit from) income taxes	(510)	(991)	(883)
Net income from continuing operations attributable to noncontrolling interests	(50)	(292)	(274)
Cerro Verde
Loss Contingencies [Line Items]
Loss Contingency, Loss in Period	16
Provision for (benefit from) income taxes	2
Cerro Verde | Cerro Verde Royalty Dispute | Royalty Assessments
Loss Contingencies [Line Items]
Production and delivery	6	14	203	$ 223
Interest expense, net	10	370	145	525
Other expense	0	22	0	22
Provision for (benefit from) income taxes	2	35	(7)	30
Net income from continuing operations attributable to noncontrolling interests	7	176	169	352
Loss contingency, loss In period, attributable to parent	7	195	186	$ 388
Interest costs, installment payment program	$ 58
December 2006 To September 2011 | Cerro Verde | Cerro Verde Royalty Dispute | Royalty Assessments
Loss Contingencies [Line Items]
Production and delivery			175
October 2011 to 2013 | Cerro Verde | Cerro Verde Royalty Dispute | Royalty Assessments
Loss Contingencies [Line Items]
Provision for (benefit from) income taxes			(136)
October 2011 to 2013 | Cerro Verde | Cerro Verde Royalty Dispute | Disputed Royalty Assessments [Member]
Loss Contingencies [Line Items]
Provision for (benefit from) income taxes			69
October 2011 to 2013 | Cerro Verde | Cerro Verde Royalty Dispute | Royalty Assessments, Taxes [Member]
Loss Contingencies [Line Items]
Provision for (benefit from) income taxes			67
December 2006 to Tax Year 2013 | Cerro Verde | Cerro Verde Royalty Dispute | Royalty Assessments
Loss Contingencies [Line Items]
Provision for (benefit from) income taxes			129
Judicial Ruling | December 2006 to Tax Year 2013 | Cerro Verde Royalty Dispute | Unfavorable Regulatory Actions
Loss Contingencies [Line Items]
Loss Contingency, Loss in Period			348
Provision for (benefit from) income taxes		$ (35)	(7)
Net income from continuing operations attributable to noncontrolling interests			$ 169

CONTINGENCIES (Tax Matters by T

CONTINGENCIES (Tax Matters by Tax Year) (Details) - USD ($) $ in Millions	12 Months Ended			21 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 21, 2018
Income Tax Examination [Line Items]
Income Taxes Receivable, Noncurrent	$ 290	$ 260
Export Duties Expense	$ 221	180	$ 115
PT-FI
Income Tax Examination [Line Items]
Progressive export duty on copper concentrates, higher threshold, percent	5.00%			7.50%
Export Duties Expense	$ 66	180	$ 115
SUNAT | Cerro Verde
Income Tax Examination [Line Items]
Income Taxes Receivable, Noncurrent	397
Tax Assessment	312
Penalty and Interest Assessment	357
Total	669
SUNAT | 2003 to 2008 | Cerro Verde
Income Tax Examination [Line Items]
Tax Assessment	53
Penalty and Interest Assessment	122
Total	175
SUNAT | 2009 | Cerro Verde
Income Tax Examination [Line Items]
Tax Assessment	56
Penalty and Interest Assessment	52
Total	108
SUNAT | 2010 | Cerro Verde
Income Tax Examination [Line Items]
Tax Assessment	63
Penalty and Interest Assessment	107
Total	170
SUNAT | 2011 | Cerro Verde
Income Tax Examination [Line Items]
Tax Assessment	49
Penalty and Interest Assessment	65
Total	114
SUNAT | 2012 | Cerro Verde
Income Tax Examination [Line Items]
Tax Assessment	52
Penalty and Interest Assessment	11
Total	63
SUNAT | 2014 to 2019 | Cerro Verde
Income Tax Examination [Line Items]
Tax Assessment	39
Penalty and Interest Assessment	0
Total	39
Indonesia Tax Authority | PT-FI
Income Tax Examination [Line Items]
Tax Assessment	1,009
Interest Assessment	282
Total	1,291
Indonesia Tax Authority | 2012 | PT-FI
Income Tax Examination [Line Items]
Tax Assessment	124
Interest Assessment	0
Total	124
Indonesia Tax Authority | 2005 | PT-FI
Income Tax Examination [Line Items]
Tax Assessment	73
Interest Assessment	35
Total	108
Indonesia Tax Authority | 2007 | PT-FI
Income Tax Examination [Line Items]
Tax Assessment	48
Interest Assessment	23
Total	71
Indonesia Tax Authority | 2009, 2010 to 2011 | PT-FI
Income Tax Examination [Line Items]
Tax Assessment	55
Interest Assessment	31
Total	86
Indonesia Tax Authority | 2013 | PT-FI
Income Tax Examination [Line Items]
Tax Assessment	154
Interest Assessment	74
Total	228
Indonesia Tax Authority | 2014 | PT-FI
Income Tax Examination [Line Items]
Tax Assessment	139
Interest Assessment	6
Total	145
Indonesia Tax Authority | 2015 | PT-FI
Income Tax Examination [Line Items]
Tax Assessment	159
Interest Assessment	0
Total	159
Indonesia Tax Authority | 2016 | PT-FI
Income Tax Examination [Line Items]
Tax Assessment	257
Interest Assessment	113
Total	370
PT-FI
Income Tax Examination [Line Items]
Income Taxes Receivable, Noncurrent	$ 178	$ 493

CONTINGENCIES (Letters of Credi

CONTINGENCIES (Letters of Credit, Bank Guarantees and Surety Bonds) (Details) $ in Millions	Dec. 31, 2019USD ($)
Surety Bond
Guarantor Obligations [Line Items]
Guarantor obligations, carrying value	$ 344
Cerro Verde
Guarantor Obligations [Line Items]
Outstanding Standby Letters Of Credit	$ 665

CONTINGENCIES (Insurance) (Deta

CONTINGENCIES (Insurance) (Details) $ in Millions	Dec. 31, 2019USD ($)
Commitments and Contingencies Disclosure [Abstract]
Self insurance reserve	$ 52
Self insurance reserve, current	11
Self insurance reserve, non-current	41
Insurance receivables	11
Insurance receivables, current	2
Insurance receivables, noncurrent	$ 9

COMMITMENTS AND GUARANTEES (Ope

COMMITMENTS AND GUARANTEES (Operating Leases) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2019
Commitments and Contingencies Disclosure [Abstract]
Operating Lease, Right-of-Use Asset	$ 232			$ 243
Operating Lease, Cost	55
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months	57
Lessee, Operating Lease, Liability, Payments, Due Year Two	43
Lessee, Operating Lease, Liability, Payments, Due Year Three	36
Operating leases, future minimum payments due:
2019		$ 53
2020		42
2021		38
2022		32
2023		29
Thereafter		171
Total aggregate rental expense under operating leases		80	$ 59
Operating Lease, Payments	$ 43
Operating Lease, Weighted Average Discount Rate, Percent	5.50%
Operating Lease, Weighted Average Remaining Lease Term	8 years 2 months 12 days
Lessee, Operating Lease, Liability, Payments, Due Year Four	$ 31
Lessee, Operating Lease, Liability, Payments, Due Year Five	29
Lessee, Operating Lease, Liability, Payments, Due after Year Five	121
Lessee, Operating Lease, Liability, Payments, Due	317
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	(69)
Operating Lease, Liability	248
Operating Lease, Liability, Current	(44)	0
Operating Lease, Liability, Noncurrent	204	$ 0
Variable and Short-term Lease, Cost	79
Lease, Cost	$ 134

COMMITMENTS AND GUARANTEES (Con

COMMITMENTS AND GUARANTEES (Contractual Obligations) (Details) $ in Millions	Dec. 31, 2019USD ($)
Unconditional purchase obligations [Line Items]
Unconditional purchase obligations	$ 3,600
2019	1,600
2020	731
2021	300
2022	274
2023	270
Thereafter	387
Copper concentrates
Unconditional purchase obligations [Line Items]
Unconditional purchase obligations	2,300
Cobalt
Unconditional purchase obligations [Line Items]
Unconditional purchase obligations	470
Electricity
Unconditional purchase obligations [Line Items]
Unconditional purchase obligations	382
Transportation
Unconditional purchase obligations [Line Items]
Unconditional purchase obligations	$ 268

COMMITMENTS AND GUARANTEES (Spe

COMMITMENTS AND GUARANTEES (Special Mining License (IUPK)) (Details) T in Thousands, $ in Millions	3 Months Ended	12 Months Ended			13 Months Ended	21 Months Ended
	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Mar. 08, 2020T	Dec. 21, 2018	Jan. 01, 2023
Contractual Obligations Mining Contracts [Line Items]
Smelter Development Progress, Higher Threshold, Percent		50.00%
Royalty Expense		$ 113	$ 246	$ 181
Export Duties Expense		221	180	115
Surety Bond
Contractual Obligations Mining Contracts [Line Items]
Assurance Bond, Smelter Development		$ 344
PT-FI
Contractual Obligations Mining Contracts [Line Items]
Progressive export duty on copper concentrates, lower threshold, percent		2.50%
Progressive export duty on copper concentrates, higher threshold, percent		5.00%				7.50%
Smelter Development Progress, Lower Threshold, Percent		30.00%
Royalty Expense		$ 106	238	173
Export Duties Expense		$ 66	$ 180	$ 115
PT-FI | Copper
Contractual Obligations Mining Contracts [Line Items]
Royalty Interest in Future Production		4.00%
PT-FI | Gold
Contractual Obligations Mining Contracts [Line Items]
Royalty Interest in Future Production		3.75%
PT-FI | Silver
Contractual Obligations Mining Contracts [Line Items]
Royalty Interest in Future Production		3.25%
PT-FI | Construction Contracts | Surety Bond
Contractual Obligations Mining Contracts [Line Items]
Assurance Bond, Smelter Development		$ 157
PT-FI
Contractual Obligations Mining Contracts [Line Items]
Ownership percentage		48.76%				81.28%
PT-FI | PT Indocopper Investama [Member]
Contractual Obligations Mining Contracts [Line Items]
Ownership percentage						9.36%
Tax Authority, In Papua, Indonesia
Contractual Obligations Mining Contracts [Line Items]
Foreign income tax rate under new stability agreement		25.00%
Foreign Profits Tax Rate on Net Income Under New Stability Agreement		10.00%
Forecast [Member]
Contractual Obligations Mining Contracts [Line Items]
Copper Concentrate, Export Quota, Original | T					180
Copper Concentrate, Export Quota, Revised | T					680
Forecast [Member] | PT-FI
Contractual Obligations Mining Contracts [Line Items]
Ownership percentage							48.76%
Memorandum of Understanding with the Indonesian Government, Indonesia Supreme Court Appeal [Member] | Indonesia Tax Authority | PT-FI
Contractual Obligations Mining Contracts [Line Items]
Progressive export duty on copper concentrates, lower threshold, percent		5.00%
Loss Contingency, Loss in Period	$ 155	$ 155
Annual Surface Water Tax Payments [Member] | PT-FI
Contractual Obligations Mining Contracts [Line Items]
Payments for Other Taxes		$ 15

COMMITMENTS AND GUARANTEES (Oth

COMMITMENTS AND GUARANTEES (Other and Community Development Programs) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Other Commitments [Line Items]
Total cost of sales	$ 13,105	$ 13,445	$ 11,980
Community Development Programs | PT-FI
Other Commitments [Line Items]
Total cost of sales	$ 28	$ 55	$ 44
Percentage of annual revenue committed for the development of the local people in the area of operations	1.00%

FINANCIAL INSTRUMENTS (Unrealiz

FINANCIAL INSTRUMENTS (Unrealized gains losses) (Details) oz in Thousands, lb in Millions, $ in Millions	Dec. 31, 2019lboz$ / lb$ / lb$ / oz	Dec. 31, 2019USD ($)$ / lb$ / lb$ / oz	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Derivatives Not Designated as Hedging Instruments | Amounts recorded in Sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net		$ 54	$ (317)	$ 515
Commodity Contract [Member]
Unrealized gains (losses):
Derivative financial instruments		15	(20)	4
Hedged item – firm sales commitments		(15)	20	(4)
Realized gains (losses):
Matured derivative financial instruments		$ (8)	(22)	30
Commodity Contract [Member] | Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Nonmonetary Notional Amount, Mass | lb	54
Derivative, Average Forward Price | $ / lb	2.69	2.69
Copper Forward Contracts [Member] | Derivatives Not Designated as Hedging Instruments
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Nonmonetary Notional Amount, Mass | lb	30
Derivative, Average Forward Price | $ / lb	2.75	2.75
Copper Forward Contracts [Member] | Derivatives Not Designated as Hedging Instruments | Amounts recorded in Cost of Sales
Realized gains (losses):
Matured derivative financial instruments		$ (7)	18	(15)
Copper | Derivatives Not Designated as Hedging Instruments | Amounts recorded in Sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net		$ 34	(310)	489
Copper | Short [Member] | Embedded Derivative Financial Instruments [Member] | Derivatives Not Designated as Hedging Instruments
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Nonmonetary Notional Amount, Mass | lb	481
Derivative, Average Forward Price | $ / lb	2.67	2.67
Realized gains (losses):
Derivative Average Market Price | $ / lb	2.80	2.80
Copper | Long [Member] | Embedded Derivative Financial Instruments [Member] | Derivatives Not Designated as Hedging Instruments
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Nonmonetary Notional Amount, Mass | lb	129
Derivative, Average Forward Price | $ / lb	2.64	2.64
Realized gains (losses):
Derivative Average Market Price | $ / lb	2.80	2.80
Gold | Short [Member] | Embedded Derivative Financial Instruments [Member] | Derivatives Not Designated as Hedging Instruments
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Nonmonetary Notional Amount, Mass | oz	112
Derivative, Average Forward Price | $ / oz	1,471	1,471
Realized gains (losses):
Derivative Average Market Price | $ / oz	1,527	1,527
gold and other [Member] | Derivatives Not Designated as Hedging Instruments | Amounts recorded in Sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net		$ 20	$ (7)	$ 26

FINANCIAL INSTRUMENTS (Unsettle

FINANCIAL INSTRUMENTS (Unsettled Derivatives) (Details) lb in Millions, $ in Millions	Dec. 31, 2019USD ($)lb	Dec. 31, 2018USD ($)
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 74	$ 23
Derivative Liability, Fair Value, Gross Liability	21	48
Derivative Liability, Fair Value, Gross Asset	0	7
Derivative Asset, Fair Value, Gross Liability	0	7
Derivative Asset	74	16
Derivative Liability	21	41
Trade accounts receivable [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset	66	3
Derivative Liability	0	24
Other Current Assets
Derivatives, Fair Value [Line Items]
Derivative Asset	6	0
Derivative Liability	0	0
Accounts Payable and Accrued Liabilities
Derivatives, Fair Value [Line Items]
Derivative Asset	2	13
Derivative Liability	21	17
Commodity Contract [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	6	0
Derivative Liability, Fair Value, Gross Liability	1	9
Derivative Liability, Fair Value, Gross Asset	0	0
Derivative Asset, Fair Value, Gross Liability	0	0
Derivative Asset	6	0
Derivative Liability	1	9
Embedded Derivative Financial Instruments [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	68	23
Derivative Liability, Fair Value, Gross Liability	20	39
Derivative Liability, Fair Value, Gross Asset	0	7
Derivative Asset, Fair Value, Gross Liability	0	7
Derivative Asset	68	16
Derivative Liability	20	32
Designated as Hedging Instrument [Member] | Commodity Contract [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 6	0
Derivative, Nonmonetary Notional Amount, Mass | lb	54
Derivatives Not Designated as Hedging Instruments | Embedded Derivative Financial Instruments [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 68	23
Derivative Liability, Fair Value, Gross Liability	$ 20	39
Derivatives Not Designated as Hedging Instruments | Forward Contracts [Member]
Derivatives, Fair Value [Line Items]
Derivative, Nonmonetary Notional Amount, Mass | lb	30
Future [Member] | Derivatives Not Designated as Hedging Instruments | FMC's Copper Futures and Swap Contracts [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability	$ 0	9
Commodity Contract [Member] | Derivatives Not Designated as Hedging Instruments | Forward Contracts [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability	$ 1	$ 0

FINANCIAL INSTRUMENTS (Derivati

FINANCIAL INSTRUMENTS (Derivative) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 2,020	$ 4,217
Restricted Cash and Cash Equivalents, Current	100	110
Restricted Cash and Cash Equivalents, Noncurrent	158	128
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	2,278	4,455	$ 4,710	$ 4,420
Credit Derivative, Maximum Exposure, Undiscounted	74
Bank Time Deposits [Member]
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 1,300	$ 2,300

FAIR VALUE MEASUREMENT (Details

FAIR VALUE MEASUREMENT (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)$ / bbl	Dec. 31, 2018USD ($)$ / bbl	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)$ / bbl
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Other current assets	$ 655	$ 422
Other assets	1,885	2,172
Other assets	109	93	$ 72
Derivative Liability, Fair Value, Gross Liability	21	48
Derivatives:
Derivative Asset	74	16
Derivatives: [Abstract]
Derivative Liability	21	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]
Investments, Fair Value Disclosure	27	25
Assets [Abstract]
Trust Assets Fair Value Disclosure	59	55
Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Investments, Fair Value Disclosure	4	4
Assets [Abstract]
Trust Assets Fair Value Disclosure	3	5
Derivatives:
Derivative Asset	5	0
Contingent receivable	0	0
Derivatives: [Abstract]
Derivative Liability	0	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]
Investments, Fair Value Disclosure	0	0
Assets [Abstract]
Trust Assets Fair Value Disclosure	134	121
Derivatives:
Derivative Asset	80	96
Contingent receivable	0	0
Derivatives: [Abstract]
Derivative Liability	21	41
Long-term debt, including current portion	10,239	10,238
Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Investments, Fair Value Disclosure	0	0
Assets [Abstract]
Trust Assets Fair Value Disclosure	0	0
Derivatives:
Derivative Asset	0	0
Contingent receivable	108	127
Derivatives: [Abstract]
Derivative Liability	0	0
Long-term debt, including current portion	0	0
Carrying Amount, Fair Value Disclosure [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Investments, Fair Value Disclosure	31	29
Assets [Abstract]
Trust Assets Fair Value Disclosure	196	181
Derivatives:
Derivative Asset	85	96
Contingent receivable	122	143
Derivatives: [Abstract]
Derivative Liability	21	48
Long-term debt, including current portion	9,826	11,141
Estimate of Fair Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Investments, Fair Value Disclosure	31	29
Assets [Abstract]
Trust Assets Fair Value Disclosure	196	181
Derivatives:
Derivative Asset	85	96
Contingent receivable	108	127
Derivatives: [Abstract]
Derivative Liability	21	48
Long-term debt, including current portion	10,239	10,238
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	20	39
Derivatives:
Derivative Asset	68	16
Derivatives: [Abstract]
Derivative Liability	20	32
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	68	23
Derivatives: [Abstract]
Derivative Liability	20	39
Embedded Derivative Financial Instruments [Member] | Level 3
Derivatives:
Derivative Asset	0	0
Derivatives: [Abstract]
Derivative Liability	0	0
Embedded Derivative Financial Instruments [Member] | Carrying Amount, Fair Value Disclosure [Member]
Derivatives:
Derivative Asset	68	23
Derivatives: [Abstract]
Derivative Liability	20	39
Embedded Derivative Financial Instruments [Member] | Estimate of Fair Value Measurement [Member]
Derivatives:
Derivative Asset	68	23
Derivatives: [Abstract]
Derivative Liability	20	39
Commodity Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Derivative Liability, Fair Value, Gross Liability	1	9
Derivatives:
Derivative Asset	6	0
Derivatives: [Abstract]
Derivative Liability	1	9
Commodity Contract [Member] | Level 1
Derivatives: [Abstract]
Derivative Liability	0	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] | Carrying Amount, Fair Value Disclosure [Member]
Derivatives: [Abstract]
Derivative Liability	1	9
Commodity Contract [Member] | Estimate of Fair Value Measurement [Member]
Derivatives: [Abstract]
Derivative Liability	1	9
Future [Member] | Level 1
Derivatives:
Derivative Asset	5
Future [Member] | Level 2
Derivatives:
Derivative Asset	1
Future [Member] | Level 3
Derivatives:
Derivative Asset	0
Future [Member] | Carrying Amount, Fair Value Disclosure [Member]
Derivatives:
Derivative Asset	6
Future [Member] | Estimate of Fair Value Measurement [Member]
Derivatives:
Derivative Asset	6
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	11	73
Africa and onshore California [Member] | Commodity Contract [Member] | Level 3
Derivatives:
Derivative Asset	0	0
Africa and onshore California [Member] | Commodity Contract [Member] | Carrying Amount, Fair Value Disclosure [Member]
Derivatives:
Derivative Asset	11	73
Africa and onshore California [Member] | Commodity Contract [Member] | Estimate of Fair Value Measurement [Member]
Derivatives:
Derivative Asset	11	73
U.S. core fixed income fund [Member] | Fair Value Measured at Net Asset Value Per Share [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Marketable Securities	27	25
Assets [Abstract]
Trust Assets Fair Value Disclosure	59	55
U.S. core fixed income fund [Member] | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Marketable Securities	0	0
Assets [Abstract]
Trust Assets Fair Value Disclosure	0	0
U.S. core fixed income fund [Member] | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Marketable Securities	0	0
Assets [Abstract]
Trust Assets Fair Value Disclosure	0	0
U.S. core fixed income fund [Member] | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Marketable Securities	0	0
Assets [Abstract]
Trust Assets Fair Value Disclosure	0	0
U.S. core fixed income fund [Member] | Carrying Amount, Fair Value Disclosure [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Marketable Securities	27	25
Assets [Abstract]
Trust Assets Fair Value Disclosure	59	55
U.S. core fixed income fund [Member] | Estimate of Fair Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Marketable Securities	27	25
Assets [Abstract]
Trust Assets Fair Value Disclosure	59	55
Money market funds [Member] | Level 1
Assets [Abstract]
Trust Assets Fair Value Disclosure	3	5
Money market funds [Member] | Level 2
Assets [Abstract]
Trust Assets Fair Value Disclosure	0	0
Money market funds [Member] | Level 3
Assets [Abstract]
Trust Assets Fair Value Disclosure	0	0
Money market funds [Member] | Carrying Amount, Fair Value Disclosure [Member]
Assets [Abstract]
Trust Assets Fair Value Disclosure	3	5
Money market funds [Member] | Estimate of Fair Value Measurement [Member]
Assets [Abstract]
Trust Assets Fair Value Disclosure	3	5
Equity securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Marketable Securities	4	4
Equity securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Marketable Securities	0	0
Equity securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Marketable Securities	0	0
Equity securities | Carrying Amount, Fair Value Disclosure [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Marketable Securities	4	4
Equity securities | Estimate of Fair Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Marketable Securities	4	4
Government bonds | Level 1
Assets [Abstract]
Trust Assets Fair Value Disclosure	0	0
Government bonds | Level 2
Assets [Abstract]
Trust Assets Fair Value Disclosure	36	36
Government bonds | Level 3
Assets [Abstract]
Trust Assets Fair Value Disclosure	0	0
Government bonds | Carrying Amount, Fair Value Disclosure [Member]
Assets [Abstract]
Trust Assets Fair Value Disclosure	36	36
Government bonds | Estimate of Fair Value Measurement [Member]
Assets [Abstract]
Trust Assets Fair Value Disclosure	36	36
Government mortgage-backed securities [Member] | Level 1
Assets [Abstract]
Trust Assets Fair Value Disclosure	0	0
Government mortgage-backed securities [Member] | Level 2
Assets [Abstract]
Trust Assets Fair Value Disclosure	43	38
Government mortgage-backed securities [Member] | Level 3
Assets [Abstract]
Trust Assets Fair Value Disclosure	0	0
Government mortgage-backed securities [Member] | Carrying Amount, Fair Value Disclosure [Member]
Assets [Abstract]
Trust Assets Fair Value Disclosure	43	38
Government mortgage-backed securities [Member] | Estimate of Fair Value Measurement [Member]
Assets [Abstract]
Trust Assets Fair Value Disclosure	43	38
Corporate bonds [Member] | Level 1
Assets [Abstract]
Trust Assets Fair Value Disclosure	0	0
Corporate bonds [Member] | Level 2
Assets [Abstract]
Trust Assets Fair Value Disclosure	33	28
Corporate bonds [Member] | Level 3
Assets [Abstract]
Trust Assets Fair Value Disclosure	0	0
Corporate bonds [Member] | Carrying Amount, Fair Value Disclosure [Member]
Assets [Abstract]
Trust Assets Fair Value Disclosure	33	28
Corporate bonds [Member] | Estimate of Fair Value Measurement [Member]
Assets [Abstract]
Trust Assets Fair Value Disclosure	33	28
Asset-backed securities [Member] | Level 1
Assets [Abstract]
Trust Assets Fair Value Disclosure	0	0
Asset-backed securities [Member] | Level 2
Assets [Abstract]
Trust Assets Fair Value Disclosure	14	11
Asset-backed securities [Member] | Level 3
Assets [Abstract]
Trust Assets Fair Value Disclosure	0	0
Asset-backed securities [Member] | Carrying Amount, Fair Value Disclosure [Member]
Assets [Abstract]
Trust Assets Fair Value Disclosure	14	11
Asset-backed securities [Member] | Estimate of Fair Value Measurement [Member]
Assets [Abstract]
Trust Assets Fair Value Disclosure	14	11
Collateralized Mortgage Backed Securities [Member] | Level 1
Assets [Abstract]
Trust Assets Fair Value Disclosure	0	0
Collateralized Mortgage Backed Securities [Member] | Level 2
Assets [Abstract]
Trust Assets Fair Value Disclosure	7	7
Collateralized Mortgage Backed Securities [Member] | Level 3
Assets [Abstract]
Trust Assets Fair Value Disclosure	0	0
Collateralized Mortgage Backed Securities [Member] | Carrying Amount, Fair Value Disclosure [Member]
Assets [Abstract]
Trust Assets Fair Value Disclosure	7	7
Collateralized Mortgage Backed Securities [Member] | Estimate of Fair Value Measurement [Member]
Assets [Abstract]
Trust Assets Fair Value Disclosure	7	7
Municipal bonds [Member] | Level 1
Assets [Abstract]
Trust Assets Fair Value Disclosure	0	0
Municipal bonds [Member] | Level 2
Assets [Abstract]
Trust Assets Fair Value Disclosure	1	1
Municipal bonds [Member] | Level 3
Assets [Abstract]
Trust Assets Fair Value Disclosure	0	0
Municipal bonds [Member] | Carrying Amount, Fair Value Disclosure [Member]
Assets [Abstract]
Trust Assets Fair Value Disclosure	1	1
Municipal bonds [Member] | Estimate of Fair Value Measurement [Member]
Assets [Abstract]
Trust Assets Fair Value Disclosure	1	1
Bank Time Deposits [Member] | Carrying Amount, Fair Value Disclosure [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Other current assets	100	109
Other assets	157	126
Derivatives Not Designated as Hedging Instruments | 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	20	39
Freeport-McMoRan Oil & Gas | Onshore California
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Other assets	11	16
Other assets	50	50
Derivatives:
Contingent receivable	50			$ 150
Derivatives: [Abstract]
Contingent consideration asset, per year				50
Freeport-McMoRan Oil & Gas | Deepwater Gulf of Mexico Interests
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Other current assets	18	27
Other assets	$ 104	$ 116
Derivatives:
Contingent receivable				$ 150
Crude Oil | Freeport-McMoRan Oil & Gas | Onshore California
Derivatives: [Abstract]
Contingent consideration, reference threshold, price per barrel (in us dollars per pound) | $ / bbl	70	70		70

FAIR VALUE MEASUREMENT FAIR VAL

FAIR VALUE MEASUREMENT FAIR VALUE MEASUREMENT (Unobservable inputs) (Details) - Gulf of Mexico Contingent Consideration [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Period Increase (Decrease)	$ 2	$ 0	$ (1)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	(21)	(7)	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	$ 108	$ 127	$ 134	$ 135

BUSINESS SEGMENTS INFORMATION_2

BUSINESS SEGMENTS INFORMATION (Product Revenue) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Product revenue [Line Items]
Revenues	$ 3,911	$ 3,153	$ 3,546	$ 3,792	$ 3,684	$ 4,908	$ 5,168	$ 4,868	$ 14,402	$ 18,628	$ 16,403
Treatment and refining charges included in copper concentrates revenues									(404)	(535)	(536)
Royalty Expense									(113)	(246)	(181)
Revenue from Contract with Customer, Excluding Assessed Tax									14,348	18,945	15,888
Copper in concentrate
Product revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax									4,566	6,180	5,604
Rod and other refined copper products
Product revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax									2,110	2,396	2,387
Purchased Copper [Member]
Product revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax									1,060	1,053	789
Copper Cathode
Product revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax									3,656	4,366	3,759
Gold
Product revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax									1,620	3,231	2,126
Molybdenum
Product revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax									1,169	1,190	896
Other
Product revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax									905	1,490	1,159
Derivatives Not Designated as Hedging Instruments | Sales [Member]
Product revenue [Line Items]
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net									54	(317)	515
PT Freeport Indonesia [Member]
Product revenue [Line Items]
Royalty Expense									(106)	$ (238)	$ (173)
Indonesia Tax Authority | PT Freeport Indonesia [Member] | Memorandum of Understanding with the Indonesian Government, Indonesia Supreme Court Appeal [Member]
Product revenue [Line Items]
Export Duties Expense		$ (155)							$ (155)

BUSINESS SEGMENTS INFORMATION_3

BUSINESS SEGMENTS INFORMATION (Long Lived Assets by Geographic Area) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Long Lived assets by geographic area of customer [Line Items]
Long-lived assets	$ 32,488	$ 31,349
Indonesia
Long Lived assets by geographic area of customer [Line Items]
Long-lived assets	14,971	14,025
U.S.
Long Lived assets by geographic area of customer [Line Items]
Long-lived assets	8,834	8,476
Peru
Long Lived assets by geographic area of customer [Line Items]
Long-lived assets	7,215	7,313
Chile
Long Lived assets by geographic area of customer [Line Items]
Long-lived assets	1,084	1,077
Other
Long Lived assets by geographic area of customer [Line Items]
Long-lived assets	$ 384	$ 458

BUSINESS SEGMENTS INFORMATION_4

BUSINESS SEGMENTS INFORMATION (Revenues by Geographic Area of Customer) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenues by geographic area of customer [Line Items]
Revenues	$ 3,911	$ 3,153	$ 3,546	$ 3,792	$ 3,684	$ 4,908	$ 5,168	$ 4,868	$ 14,402	$ 18,628	$ 16,403
U.S.
Revenues by geographic area of customer [Line Items]
Revenues									5,107	5,790	5,344
Indonesia
Revenues by geographic area of customer [Line Items]
Revenues									1,894	2,226	2,023
Japan
Revenues by geographic area of customer [Line Items]
Revenues									1,181	1,946	1,882
Switzerland
Revenues by geographic area of customer [Line Items]
Revenues									2,223	2,941	1,200
China
Revenues by geographic area of customer [Line Items]
Revenues									531	873	1,136
Spain
Revenues by geographic area of customer [Line Items]
Revenues									884	1,070	1,086
India
Revenues by geographic area of customer [Line Items]
Revenues									107	389	782
PHILIPPINES
Revenues by geographic area of customer [Line Items]
Revenues									73	221	378
Korea
Revenues by geographic area of customer [Line Items]
Revenues									140	269	364
GERMANY
Revenues by geographic area of customer [Line Items]
Revenues									311	256	161
FRANCE
Revenues by geographic area of customer [Line Items]
Revenues									198	255	122
Chile
Revenues by geographic area of customer [Line Items]
Revenues									242	294	248
BELGIUM
Revenues by geographic area of customer [Line Items]
Revenues									160	278	39
BERMUDA
Revenues by geographic area of customer [Line Items]
Revenues									38	207	226
UNITED KINGDOM
Revenues by geographic area of customer [Line Items]
Revenues									233	296	226
Other
Revenues by geographic area of customer [Line Items]
Revenues									$ 1,080	$ 1,317	$ 1,186

BUSINESS SEGMENTS INFORMATION_5

BUSINESS SEGMENTS INFORMATION (Customers and Labor Matters) (Details) - USD ($) $ in Millions	3 Months Ended								9 Months Ended	12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2015
Major Customer and Labor Matters [Line Items]
Segment Reporting, Disclosure of Major Customers									.12
Revenues	$ 3,911	$ 3,153	$ 3,546	$ 3,792	$ 3,684	$ 4,908	$ 5,168	$ 4,868		$ 14,402	$ 18,628	$ 16,403
Affiliated Entity | Noncontrolling Interest Owners Of South America Mining Operations
Major Customer and Labor Matters [Line Items]
Revenues										1,000	1,200	1,100	$ 1,000
Affiliated Entity | PT Smelting
Major Customer and Labor Matters [Line Items]
Revenues										1,900	2,200	2,000
Indonesia
Major Customer and Labor Matters [Line Items]
Revenues										$ 1,894	$ 2,226	$ 2,023

BUSINESS SEGMENTS INFORMATION_6

BUSINESS SEGMENTS INFORMATION (Business Segments Narrative) (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Workforce Subject to Collective Bargaining Arrangements
Mining Segment Reporting Information [Line Items]
Concentration risk percentage	37.00%
Workforce Subject to Collective Bargaining Arrangements Expiring within One Year
Mining Segment Reporting Information [Line Items]
Concentration risk percentage	21.00%
North America | Inventory, Copper Metal Production | Product Concentration Risk | Bagdad [Member]
Mining Segment Reporting Information [Line Items]
Concentration risk percentage	15.00%
North America | Inventory, Copper Metal Production | Product Concentration Risk | Morenci
Mining Segment Reporting Information [Line Items]
Concentration risk percentage	50.00%
North America | Cost of Goods, Product Line | Supplier Concentration Risk | Atlantic Copper Smelting & Refining
Mining Segment Reporting Information [Line Items]
Concentration risk percentage	22.00%
South America | Inventory, Copper Metal Production | Product Concentration Risk | Cerro Verde
Mining Segment Reporting Information [Line Items]
Concentration risk percentage	85.00%
South America | Cost of Goods, Product Line | Supplier Concentration Risk | Atlantic Copper Smelting & Refining
Mining Segment Reporting Information [Line Items]
Concentration risk percentage	2.00%
Indonesia | Cost of Goods, Product Line | Supplier Concentration Risk | Atlantic Copper Smelting & Refining
Mining Segment Reporting Information [Line Items]
Concentration risk percentage	3.00%
PT Smelting
Mining Segment Reporting Information [Line Items]
Deferred intercompany profit	25.00%
PT Smelting | Revenue from Contract with Customer Benchmark [Member]
Mining Segment Reporting Information [Line Items]
Concentration risk percentage	13.00%	12.00%
Morenci
Mining Segment Reporting Information [Line Items]
Ownership percentage	72.00%

BUSINESS SEGMENTS INFORMATION_7

BUSINESS SEGMENTS INFORMATION (Segment Reporting) (Details) - USD ($) $ in Millions	1 Months Ended		3 Months Ended								12 Months Ended			36 Months Ended
	May 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2019
Segment Reporting Information [Line Items]
Revenues			$ 3,911	$ 3,153	$ 3,546	$ 3,792	$ 3,684	$ 4,908	$ 5,168	$ 4,868	$ 14,402	$ 18,628	$ 16,403
Production and delivery											11,514	11,687	10,258
Depreciation, depletion and amortization											1,412	1,754	1,714
Metals inventory adjustments			79	41	59						179	4	8
Selling, general and administrative expenses											414	443	477
Mining exploration and research expenses											104	105	93
Environmental obligations and shutdown costs											105	89	244
Net gain on sales of assets							(82)	(70)	(45)	(11)	(417)	(208)	(81)
Operating income (loss)			775	(38)	$ 33	$ 321	316	$ 1,315	$ 1,664	$ 1,459	1,091	4,754	3,690
Interest expense, net											620	945	801
Provision for income taxes											510	991	883
Total assets		$ 42,216	40,809				42,216				40,809	42,216	37,302	$ 40,809
Capital expenditures											2,652	1,971	1,410
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount											0	(504)	0
Federal Income Tax Expense (Benefit), Continuing Operations												22
Current Federal Tax Expense (Benefit)											23	(46)	3
Effective Income Tax Rate Reconciliation, Adjustment in Deferred Tax Assets											49	0	0
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount											149	(129)	(28)
Cerro Verde
Segment Reporting Information [Line Items]
Loss Contingency, Loss in Period											16
Provision for income taxes											(2)
Grasberg Segment [Member]
Segment Reporting Information [Line Items]
Capital expenditures											1,369	1,001	875
Molybdenum
Segment Reporting Information [Line Items]
Capital expenditures											19	9	5
South America
Segment Reporting Information [Line Items]
Capital expenditures											256	237	115
North America copper mines
Segment Reporting Information [Line Items]
Capital expenditures											877	601	167
Indonesia
Segment Reporting Information [Line Items]
Revenues											1,894	2,226	2,023
Operating Segments | Molybdenum
Segment Reporting Information [Line Items]
Revenues											0	0	0
Production and delivery											299	289	226
Depreciation, depletion and amortization											62	79	76
Metals inventory adjustments											50	0	1
Selling, general and administrative expenses											0	0	0
Mining exploration and research expenses											0	0	0
Environmental obligations and shutdown costs											0	0	0
Net gain on sales of assets											0	0	0
Operating income (loss)											(67)	42	(35)
Interest expense, net											0	0	0
Provision for income taxes											0	0	0
Total assets		1,796	1,798				1,796				1,798	1,796	1,858	1,798
Capital expenditures											19	9	5
Operating Segments | Rod & Refining
Segment Reporting Information [Line Items]
Revenues											4,457	5,103	4,456
Production and delivery											4,475	5,117	4,467
Depreciation, depletion and amortization											9	11	10
Metals inventory adjustments											0	0	0
Selling, general and administrative expenses											0	0	0
Mining exploration and research expenses											0	0	0
Environmental obligations and shutdown costs											0	0	0
Net gain on sales of assets											0	0	0
Operating income (loss)											(1)	6	5
Interest expense, net											0	0	0
Provision for income taxes											0	0	0
Total assets		233	193				233				193	233	277	193
Capital expenditures											5	5	4
Operating Segments | Atlantic Copper Smelting & Refining
Segment Reporting Information [Line Items]
Revenues											2,063	2,299	2,031
Production and delivery											1,971	2,218	1,966
Depreciation, depletion and amortization											28	27	28
Metals inventory adjustments											0	0	0
Selling, general and administrative expenses											20	21	18
Mining exploration and research expenses											0	0	0
Environmental obligations and shutdown costs											0	0	0
Net gain on sales of assets											0	0	0
Operating income (loss)											49	36	20
Interest expense, net											22	25	18
Provision for income taxes											5	1	5
Total assets		773	761				773				761	773	822	761
Capital expenditures											34	16	41
Operating Segments | North America
Segment Reporting Information [Line Items]
Revenues											367	144	408
Production and delivery											3,319	3,124	2,743
Depreciation, depletion and amortization											349	360	425
Metals inventory adjustments											30	4	2
Selling, general and administrative expenses											4	6	4
Mining exploration and research expenses											2	3	2
Environmental obligations and shutdown costs											1	2	0
Net gain on sales of assets											0	0	0
Operating income (loss)											681	1,195	1,389
Interest expense, net											4	4	4
Provision for income taxes											0	0	0
Total assets		7,530	7,989				7,530				7,989	7,530	7,102	7,989
Capital expenditures											877	601	167
Operating Segments | North America | Morenci
Segment Reporting Information [Line Items]
Revenues											143	90	228
Production and delivery											1,376	1,183	1,043
Depreciation, depletion and amortization											171	176	178
Metals inventory adjustments											1	0	0
Selling, general and administrative expenses											2	3	2
Mining exploration and research expenses											0	0	0
Environmental obligations and shutdown costs											1	0	0
Net gain on sales of assets											0	0	0
Operating income (loss)											456	779	870
Interest expense, net											3	3	3
Provision for income taxes											0	0	0
Total assets		2,922	2,880				2,922				2,880	2,922	2,861	2,880
Capital expenditures											231	216	114
Operating Segments | North America | Bagdad [Member]
Segment Reporting Information [Line Items]
Revenues											0	0	22
Production and delivery											512	483	367
Depreciation, depletion and amortization											46	41	40
Metals inventory adjustments											0	0	0
Selling, general and administrative expenses											1	1	0
Mining exploration and research expenses											0	0	0
Environmental obligations and shutdown costs											0	0	0
Net gain on sales of assets											0	0	0
Operating income (loss)											204	185	143
Interest expense, net												0	0
Provision for income taxes											0	0	0
Total assets		671	783				671				783	671	650	783
Capital expenditures											150	39	12
Operating Segments | North America | Other
Segment Reporting Information [Line Items]
Revenues											224	54	158
Production and delivery											1,431	1,458	1,333
Depreciation, depletion and amortization											132	143	207
Metals inventory adjustments											29	4	2
Selling, general and administrative expenses											1	2	2
Mining exploration and research expenses											2	3	2
Environmental obligations and shutdown costs											0	2	0
Net gain on sales of assets											0	0	0
Operating income (loss)											21	231	376
Interest expense, net											1	1	1
Provision for income taxes											0	0	0
Total assets		3,937	4,326				3,937				4,326	3,937	3,591	4,326
Capital expenditures											496	346	41
Operating Segments | Bagdad [Member] | Bagdad [Member]
Segment Reporting Information [Line Items]
Interest expense, net											0
Operating Segments | South America
Segment Reporting Information [Line Items]
Revenues											3,075	3,303	3,309
Production and delivery											2,326	2,365	2,244
Depreciation, depletion and amortization											474	546	525
Metals inventory adjustments											2	0	0
Selling, general and administrative expenses											8	9	9
Mining exploration and research expenses											0	0	0
Environmental obligations and shutdown costs											0	0	0
Net gain on sales of assets											0	0	0
Operating income (loss)											578	735	916
Interest expense, net											114	429	212
Provision for income taxes											239	268	446
Total assets		10,231	10,288				10,231				10,288	10,231	10,580	10,288
Capital expenditures											256	237	115
Operating Segments | South America | Cerro Verde
Segment Reporting Information [Line Items]
Revenues											2,576	2,709	2,811
Production and delivery											1,852	1,887	1,878
Depreciation, depletion and amortization											406	456	441
Metals inventory adjustments											2	0	0
Selling, general and administrative expenses											8	9	9
Mining exploration and research expenses											0	0	0
Environmental obligations and shutdown costs											0	0	0
Net gain on sales of assets											0	0	0
Operating income (loss)											621	709	868
Interest expense, net											114	429	212
Provision for income taxes											250	253	436
Total assets		8,524	8,612				8,524				8,612	8,524	8,878	8,612
Capital expenditures											232	220	103
Operating Segments | South America | Other
Segment Reporting Information [Line Items]
Revenues											499	594	498
Production and delivery											474	478	366
Depreciation, depletion and amortization											68	90	84
Metals inventory adjustments											0	0	0
Selling, general and administrative expenses											0	0	0
Mining exploration and research expenses											0	0	0
Environmental obligations and shutdown costs											0	0	0
Net gain on sales of assets											0	0	0
Operating income (loss)											(43)	26	48
Interest expense, net											0	0	0
Provision for income taxes											(11)	15	10
Total assets		1,707	1,676				1,707				1,676	1,707	1,702	1,676
Capital expenditures											24	17	12
Operating Segments | Indonesia | Grasberg Segment [Member]
Segment Reporting Information [Line Items]
Revenues											2,713	5,446	4,445
Production and delivery											2,055	1,864	1,735
Loss Contingency, Loss in Period												223
Depreciation, depletion and amortization											406	606	556
Metals inventory adjustments											5	0	0
Selling, general and administrative expenses											125	123	126
Mining exploration and research expenses											0	0	0
Environmental obligations and shutdown costs											0	0	0
Net gain on sales of assets											0	0	0
Operating income (loss)											180	2,966	2,028
Interest expense, net											82	1	4
Provision for income taxes											167	755	869
Total assets		15,646	16,485				15,646				16,485	15,646	10,911	16,485
Capital expenditures											1,369	1,001	875
Adjustment to Historical Tax Positions												20
Corporate And Eliminations [Member]
Segment Reporting Information [Line Items]
Revenues											1,727	2,333	1,754
Production and delivery											(2,931)	(3,290)	(3,123)
Depreciation, depletion and amortization											84	125	94
Metals inventory adjustments											92	0	5
Selling, general and administrative expenses											257	284	320
Mining exploration and research expenses											102	102	91
Environmental obligations and shutdown costs											104	87	244
Net gain on sales of assets											(417)	(208)	(81)
Operating income (loss)											(329)	(226)	(633)
Interest expense, net											398	486	563
Provision for income taxes											99	(33)	(437)
Total assets		6,007	3,295				6,007				3,295	6,007	5,752	3,295
Capital expenditures											92	102	203
Intersegment
Segment Reporting Information [Line Items]
Revenues											0	0	0
Intersegment | Molybdenum
Segment Reporting Information [Line Items]
Revenues											344	410	268
Intersegment | Rod & Refining
Segment Reporting Information [Line Items]
Revenues											26	31	26
Intersegment | Atlantic Copper Smelting & Refining
Segment Reporting Information [Line Items]
Revenues											5	3	1
Intersegment | Corporate And Eliminations [Member]
Segment Reporting Information [Line Items]
Revenues											(4,765)	(5,459)	(4,837)
Intersegment | North America
Segment Reporting Information [Line Items]
Revenues											4,019	4,550	4,157
Intersegment | North America | Morenci
Segment Reporting Information [Line Items]
Revenues											1,864	2,051	1,865
Intersegment | North America | Bagdad [Member]
Segment Reporting Information [Line Items]
Revenues											763	710	528
Intersegment | North America | Other
Segment Reporting Information [Line Items]
Revenues											1,392	1,789	1,764
Intersegment | South America
Segment Reporting Information [Line Items]
Revenues											313	352	385
Intersegment | South America | Cerro Verde
Segment Reporting Information [Line Items]
Revenues											313	352	385
Intersegment | South America | Other
Segment Reporting Information [Line Items]
Revenues											0	0	0
Intersegment | Indonesia | Grasberg Segment [Member]
Segment Reporting Information [Line Items]
Revenues											58	113	0
One-time Termination Benefits
Segment Reporting Information [Line Items]
Production and delivery													120
Selling, general and administrative expenses													5
Royalty Assessments | Operating Segments | South America | Cerro Verde
Segment Reporting Information [Line Items]
Production and delivery												14	(203)
Interest expense, net												370	145
Cerro Verde Royalty Dispute | Royalty Assessments | Cerro Verde
Segment Reporting Information [Line Items]
Production and delivery											6	14	203	223
Interest expense, net											10	370	145	525
Provision for income taxes											(2)	(35)	7	(30)
Surface Water Taxes, Papua, Indonesia [Member]
Segment Reporting Information [Line Items]
Production and delivery	$ 28	$ 69
Gulf of Mexico Shelf and Madden properties [Member] | Corporate And Eliminations [Member]
Segment Reporting Information [Line Items]
Net gain on sales of assets											(20)		(49)
Onshore California | Corporate And Eliminations [Member]
Segment Reporting Information [Line Items]
Net gain on sales of assets												(31)
Freeport Cobalt
Segment Reporting Information [Line Items]
Depreciation Expense on Reclassified Assets							$ 48					31
Freeport Cobalt | Corporate And Eliminations [Member]
Segment Reporting Information [Line Items]
Depreciation Expense on Reclassified Assets												31
Net gain on sales of assets												(97)
Timok, Lower Zone [Member]
Segment Reporting Information [Line Items]
Current Federal Tax Expense (Benefit)											53
Cerro Verde Collective Labor Agreement [Member] | Operating Segments | South America | Cerro Verde
Segment Reporting Information [Line Items]
Production and delivery												(69)
PT Freeport Indonesia [Member]
Segment Reporting Information [Line Items]
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount											0	(504)	0
Loss Contingency, Loss in Period, Including Tax Charges											304
PT Freeport Indonesia [Member] | Surface Water Taxes, Papua, Indonesia [Member]
Segment Reporting Information [Line Items]
Loss Contingency, Loss in Period, Including Tax Charges											28
Minimum Tax Credit Carryforwards [Member]
Segment Reporting Information [Line Items]
Foreign Income Tax Expense (Benefit), Continuing Operations												47
Federal Income Tax Expense (Benefit), Continuing Operations												76	438
Minimum Tax Credit Carryforwards [Member] | PT Freeport Indonesia [Member]
Segment Reporting Information [Line Items]
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount												(549)
December 2006 to Tax Year 2013 | Cerro Verde Royalty Dispute | Royalty Assessments | Cerro Verde
Segment Reporting Information [Line Items]
Provision for income taxes													(129)
Judicial Ruling | December 2006 to Tax Year 2013 | Cerro Verde Royalty Dispute | Unfavorable Regulatory Actions
Segment Reporting Information [Line Items]
Loss Contingency, Loss in Period													348
Provision for income taxes												35	7
Loss Contingency, Loss in Period, Including Tax Charges													$ 186
Tax Authority, In Papau, Indonesia
Segment Reporting Information [Line Items]
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount												504
Tax Authority, In Papau, Indonesia | PT Freeport Indonesia [Member]
Segment Reporting Information [Line Items]
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount												$ 482
Indonesia Tax Authority | PT Freeport Indonesia [Member] | Memorandum of Understanding with the Indonesian Government, Indonesia Supreme Court Appeal [Member]
Segment Reporting Information [Line Items]
Loss Contingency, Loss in Period				$ 155							155
Interest expense | PT Freeport Indonesia [Member]
Segment Reporting Information [Line Items]
Loss Contingency, Loss in Period, Including Tax Charges											78
Disposed of by Sale, Discontinued Operations | Timok
Segment Reporting Information [Line Items]
Gain (Loss) on Disposition of Business											343
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations [Member] | Freeport Cobalt
Segment Reporting Information [Line Items]
Disposal Group, Including Discontinued Operation, Cash			$ 59								$ 59			$ 59

GUARANTOR FINANCIAL STATEMENT_3

GUARANTOR FINANCIAL STATEMENTS (Details)	Dec. 31, 2018
FM O&G LLC Guarantor
Condensed Financial Statements, Captions [Line Items]
Ownership percentage of subsidiary	100.00%

GUARANTOR FINANCIAL STATEMENT_4

GUARANTOR FINANCIAL STATEMENTS (Condensed Consolidating Balance Sheet) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
ASSETS
Assets, Current	$ 7,915	$ 10,464
Property, plant, equipment and mine development costs, net	29,584	28,010
Investments in consolidated subsidiaries	0	0
Other assets	3,310	3,742
Total assets	40,809	42,216	$ 37,302
LIABILITIES AND EQUITY
Liabilities, Current	3,209	3,329
Long-term debt, less current portion	9,821	11,124
Deferred income taxes	4,210	4,032
Environmental and asset retirement obligations, less current portion	3,630	3,609
Investments in consolidated subsidiary	0	0
Other liabilities	2,491	2,230
Total liabilities	23,361	24,324
Equity:
Stockholders’ equity	9,298	9,798
Noncontrolling interests	8,150	8,094
Total equity	17,448	17,892	$ 11,296	$ 9,257
Total liabilities and equity	40,809	42,216
Eliminations
ASSETS
Assets, Current	(674)	(585)
Property, plant, equipment and mine development costs, net	12	0
Investments in consolidated subsidiaries	(17,027)	(19,064)
Other assets	(1,452)	(635)
Total assets	(19,141)	(20,284)
LIABILITIES AND EQUITY
Liabilities, Current	(706)	(617)
Long-term debt, less current portion	(12,401)	(11,103)
Deferred income taxes	0	0
Environmental and asset retirement obligations, less current portion	0	0
Investments in consolidated subsidiary	(11,558)	(11,091)
Other liabilities	(3,494)	(3,486)
Total liabilities	(28,159)	(26,297)
Equity:
Stockholders’ equity	3,564	601
Noncontrolling interests	5,454	5,412
Total equity	9,018	6,013
Total liabilities and equity	(19,141)	(20,284)
FCX Issuer | Reportable Legal Entities
ASSETS
Assets, Current	154	309
Property, plant, equipment and mine development costs, net	16	19
Investments in consolidated subsidiaries	17,027	19,064
Other assets	1,604	880
Total assets	18,801	20,272
LIABILITIES AND EQUITY
Liabilities, Current	323	245
Long-term debt, less current portion	8,602	9,594
Deferred income taxes	468	524
Environmental and asset retirement obligations, less current portion	0	0
Investments in consolidated subsidiary	0	0
Other liabilities	110	111
Total liabilities	9,503	10,474
Equity:
Stockholders’ equity	9,298	9,798
Noncontrolling interests	0	0
Total equity	9,298	9,798
Total liabilities and equity	18,801	20,272
FM O&G LLC Guarantor | Reportable Legal Entities
ASSETS
Assets, Current	657	620
Property, plant, equipment and mine development costs, net	1	7
Investments in consolidated subsidiaries	0	0
Other assets	21	23
Total assets	679	650
LIABILITIES AND EQUITY
Liabilities, Current	42	34
Long-term debt, less current portion	7,328	6,984
Deferred income taxes	0	0
Environmental and asset retirement obligations, less current portion	224	227
Investments in consolidated subsidiary	652	578
Other liabilities	3,340	3,340
Total liabilities	11,586	11,163
Equity:
Stockholders’ equity	(10,907)	(10,513)
Noncontrolling interests	0	0
Total equity	(10,907)	(10,513)
Total liabilities and equity	679	650
Non-Guarantor Subsidiaries | Reportable Legal Entities
ASSETS
Assets, Current	7,778	10,120
Property, plant, equipment and mine development costs, net	29,555	27,984
Investments in consolidated subsidiaries	0	0
Other assets	3,137	3,474
Total assets	40,470	41,578
LIABILITIES AND EQUITY
Liabilities, Current	3,550	3,667
Long-term debt, less current portion	6,292	5,649
Deferred income taxes	3,742	3,508
Environmental and asset retirement obligations, less current portion	3,406	3,382
Investments in consolidated subsidiary	10,906	10,513
Other liabilities	2,535	2,265
Total liabilities	30,431	28,984
Equity:
Stockholders’ equity	7,343	9,912
Noncontrolling interests	2,696	2,682
Total equity	10,039	12,594
Total liabilities and equity	$ 40,470	$ 41,578

GUARANTOR FINANCIAL STATEMENT_5

GUARANTOR FINANCIAL STATEMENTS (Condensed Consolidating Comprehensive (Loss) Income) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Condensed Comprehensive (Loss) Income Statements [Line Items]
Revenues	$ 3,911	$ 3,153	$ 3,546	$ 3,792	$ 3,684	$ 4,908	$ 5,168	$ 4,868	$ 14,402	$ 18,628	$ 16,403
Costs and Expenses									13,311	13,874	12,713
Operating income (loss)	775	(38)	33	321	316	1,315	1,664	1,459	1,091	4,754	3,690
Interest expense, net									(620)	(945)	(801)
Other (expense) income, net									(138)	76	(8)
Net (loss) gain on early extinguishment of debt									(27)	7	21
Other Operating Income (Expense) Including Gain (Loss) on Early Extinguishment of Debt									(138)	76
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest									306	3,892	2,902
Benefit from (provision for) income taxes									(510)	(991)	(883)
Equity in affiliated companies’ net earnings (losses)									12	8	10
Net (loss) income from continuing operations	42	(235)	(74)	75	374	668	1,039	828	(192)	2,909	2,029
Net income (loss) from discontinued operations	1	1	0	1	4	(4)	(4)	(11)	3	(15)	66
Net (loss) income	43	(234)	(74)	76	378	664	1,035	817	(189)	2,894	2,095
Net income from continuing operations attributable to noncontrolling interests											(274)
Net income (loss) attributable to noncontrolling interests: Discontinued Operations									0	0	4
Net (loss) income attributable to common stockholders	$ 9	$ (207)	$ (72)	$ 31	$ 485	$ 556	$ 869	$ 692	(239)	2,602	1,817
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent									(71)	(33)	61
Total comprehensive income (loss) attributable to common stockholders									(310)	2,569	1,878
Eliminations
Condensed Comprehensive (Loss) Income Statements [Line Items]
Revenues									0	0	0
Costs and Expenses									(12)	(10)	10
Operating income (loss)									12	10	(10)
Interest expense, net									533	478	348
Other (expense) income, net											(348)
Net (loss) gain on early extinguishment of debt									0	0	0
Other Operating Income (Expense) Including Gain (Loss) on Early Extinguishment of Debt									(21)	(478)
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest									524	10	(10)
Benefit from (provision for) income taxes									(2)	(2)	3
Equity in affiliated companies’ net earnings (losses)									293	(2,493)	(1,408)
Net (loss) income from continuing operations									815	(2,485)	(1,415)
Net income (loss) from discontinued operations									0	0	0
Net (loss) income									815	(2,485)	(1,415)
Net income from continuing operations attributable to noncontrolling interests											(124)
Net income (loss) attributable to noncontrolling interests: Discontinued Operations											0
Net (loss) income attributable to common stockholders									851	(2,709)	(1,539)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent									71	33	(61)
Total comprehensive income (loss) attributable to common stockholders									922	(2,676)	(1,600)
FCX Issuer
Condensed Comprehensive (Loss) Income Statements [Line Items]
Net (loss) gain on early extinguishment of debt										7
FCX Issuer | Reportable Legal Entities
Condensed Comprehensive (Loss) Income Statements [Line Items]
Revenues									0	0	0
Costs and Expenses									25	28	39
Operating income (loss)									(25)	(28)	(39)
Interest expense, net									(337)	(388)	(467)
Other (expense) income, net											336
Net (loss) gain on early extinguishment of debt									(26)		22
Other Operating Income (Expense) Including Gain (Loss) on Early Extinguishment of Debt									(22)	477
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest									(410)	68	(148)
Benefit from (provision for) income taxes									58	(176)	220
Equity in affiliated companies’ net earnings (losses)									113	2,710	1,745
Net (loss) income from continuing operations									(239)	2,602	1,817
Net income (loss) from discontinued operations									0	0	0
Net (loss) income									(239)	2,602	1,817
Net income from continuing operations attributable to noncontrolling interests											0
Net income (loss) attributable to noncontrolling interests: Discontinued Operations											0
Net (loss) income attributable to common stockholders									(239)	2,602	1,817
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent									(71)	(33)	61
Total comprehensive income (loss) attributable to common stockholders									(310)	2,569	1,878
FM O&G LLC Guarantor | Reportable Legal Entities
Condensed Comprehensive (Loss) Income Statements [Line Items]
Revenues									40	59	52
Costs and Expenses									54	58	78
Operating income (loss)									(14)	1	(26)
Interest expense, net									(322)	(301)	(227)
Other (expense) income, net											0
Net (loss) gain on early extinguishment of debt									0	2	5
Other Operating Income (Expense) Including Gain (Loss) on Early Extinguishment of Debt									0	0
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest									(336)	(298)	(248)
Benefit from (provision for) income taxes									76	61	(108)
Equity in affiliated companies’ net earnings (losses)									(73)	10	10
Net (loss) income from continuing operations									(333)	(227)	(346)
Net income (loss) from discontinued operations									0	0	0
Net (loss) income									(333)	(227)	(346)
Net income from continuing operations attributable to noncontrolling interests											0
Net income (loss) attributable to noncontrolling interests: Discontinued Operations											0
Net (loss) income attributable to common stockholders									(333)	(227)	(346)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent									0	0	0
Total comprehensive income (loss) attributable to common stockholders									(333)	(227)	(346)
Non-Guarantor Subsidiaries | Reportable Legal Entities
Condensed Comprehensive (Loss) Income Statements [Line Items]
Revenues									14,362	18,569	16,351
Costs and Expenses									13,244	13,798	12,586
Operating income (loss)									1,118	4,771	3,765
Interest expense, net									(494)	(734)	(455)
Other (expense) income, net											4
Net (loss) gain on early extinguishment of debt									(1)	(2)	(6)
Other Operating Income (Expense) Including Gain (Loss) on Early Extinguishment of Debt									(95)	77
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest									528	4,112	3,308
Benefit from (provision for) income taxes									(642)	(874)	(998)
Equity in affiliated companies’ net earnings (losses)									(321)	(219)	(337)
Net (loss) income from continuing operations									(435)	3,019	1,973
Net income (loss) from discontinued operations									3	(15)	66
Net (loss) income									(432)	3,004	2,039
Net income from continuing operations attributable to noncontrolling interests											(150)
Net income (loss) attributable to noncontrolling interests: Discontinued Operations											4
Net (loss) income attributable to common stockholders									(518)	2,936	1,885
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent									(71)	(33)	61
Total comprehensive income (loss) attributable to common stockholders									$ (589)	$ 2,903	$ 1,946

GUARANTOR FINANCIAL STATEMENT_6

GUARANTOR FINANCIAL STATEMENTS (Condensed Consolidated Cash Flow Statement) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Condensed Cash Flow Statements [Line Items]
Revenues	$ 3,911	$ 3,153	$ 3,546	$ 3,792	$ 3,684	$ 4,908	$ 5,168	$ 4,868	$ 14,402	$ 18,628	$ 16,403
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	2,278				4,455				2,278	4,455	4,710	$ 4,420
Cash flow from operating activities:
Net (loss) income	43	(234)	(74)	76	378	664	1,035	817	(189)	2,894	2,095
Costs and Expenses									13,311	13,874	12,713
Operating income (loss)	775	(38)	33	321	316	1,315	1,664	1,459	1,091	4,754	3,690
Interest expense, net									(620)	(945)	(801)
Other Operating Income (Expense) Including Gain (Loss) on Early Extinguishment of Debt									(138)	76
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest									306	3,892	2,902
Provision for income taxes									510	991	883
Net (loss) income from continuing operations	42	(235)	(74)	75	374	668	1,039	828	(192)	2,909	2,029
Net income (loss) from discontinued operations	1	1	0	1	4	(4)	(4)	(11)	3	(15)	66
Net income from continuing operations attributable to noncontrolling interests									(50)	(292)	(274)
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Noncontrolling Interest									0	0	4
Net (loss) income attributable to common stockholders	9	$ (207)	$ (72)	$ 31	485	$ 556	$ 869	$ 692	(239)	2,602	1,817
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent									(71)	(33)	61
Total comprehensive income (loss) attributable to common stockholders									(310)	2,569	1,878
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation, depletion and amortization									1,412	1,754	1,714
Equity in affiliated companies’ net earnings									12	8	10
Net cash provided by (used in) operating activities									1,482	3,863	4,666
Cash flow from investing activities:
Capital expenditures									(2,652)	(1,971)	(1,410)
Acquisition of PT Rio Tinto Indonesia									0	(3,500)	0
Intercompany loans									0	0	0
Dividends from (investments in) consolidated subsidiaries									(2)	0	0
Other, net									551	453
Other, net											89
Net cash provided by (used in) investing activities									(2,103)	(5,018)	(1,321)
Cash flow from financing activities:
Proceeds from debt									1,879	632	955
Repayments of debt									(3,197)	(2,717)	(3,812)
Intercompany loans									0	0	0
Net proceeds from sale of common stock										3,500
Cash dividends paid and distributions received, net									(208)	(496)	(176)
Other, net									(30)	(19)	(22)
Net cash (used in) provided by financing activities									(1,556)	900	(3,055)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect									(2,177)	(255)
Net decrease in cash, cash equivalents, restricted cash and restricted cash equivalents											290
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of year	2,020				4,217				2,020	4,217
Reportable Legal Entities | FCX Issuer
Condensed Cash Flow Statements [Line Items]
Revenues									0	0	0
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	0				0				0	0	0	0
Cash flow from operating activities:
Net (loss) income									(239)	2,602	1,817
Costs and Expenses									25	28	39
Operating income (loss)									(25)	(28)	(39)
Interest expense, net									(337)	(388)	(467)
Other Operating Income (Expense) Including Gain (Loss) on Early Extinguishment of Debt									(22)	477
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest									(410)	68	(148)
Provision for income taxes									(58)	176	(220)
Net (loss) income from continuing operations									(239)	2,602	1,817
Net income (loss) from discontinued operations									0	0	0
Net income from continuing operations attributable to noncontrolling interests									0	0
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Noncontrolling Interest											0
Net (loss) income attributable to common stockholders									(239)	2,602	1,817
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent									(71)	(33)	61
Total comprehensive income (loss) attributable to common stockholders									(310)	2,569	1,878
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Equity in affiliated companies’ net earnings									113	2,710	1,745
Net cash provided by (used in) operating activities									443	(40)	(156)
Cash flow from investing activities:
Capital expenditures									0	(2)	0
Acquisition of PT Rio Tinto Indonesia										0
Intercompany loans									(1,299)	(832)	(777)
Dividends from (investments in) consolidated subsidiaries									2,177	2,475	3,226
Other, net									(1)	460
Other, net											0
Net cash provided by (used in) investing activities									877	2,101	2,449
Cash flow from financing activities:
Proceeds from debt									1,200	0	0
Repayments of debt									(2,202)	(1,826)	(2,281)
Intercompany loans									0	0	0
Net proceeds from sale of common stock										0
Cash dividends paid and distributions received, net									(291)	(217)	(2)
Other, net									(27)	(18)	(10)
Net cash (used in) provided by financing activities									(1,320)	(2,061)	(2,293)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect									0	0
Net decrease in cash, cash equivalents, restricted cash and restricted cash equivalents											0
Reportable Legal Entities | FM O&G LLC Guarantor
Condensed Cash Flow Statements [Line Items]
Revenues									40	59	52
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	0				0				0	0	8	10
Cash flow from operating activities:
Net (loss) income									(333)	(227)	(346)
Costs and Expenses									54	58	78
Operating income (loss)									(14)	1	(26)
Interest expense, net									(322)	(301)	(227)
Other Operating Income (Expense) Including Gain (Loss) on Early Extinguishment of Debt									0	0
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest									(336)	(298)	(248)
Provision for income taxes									(76)	(61)	108
Net (loss) income from continuing operations									(333)	(227)	(346)
Net income (loss) from discontinued operations									0	0	0
Net income from continuing operations attributable to noncontrolling interests									0	0
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Noncontrolling Interest											0
Net (loss) income attributable to common stockholders									(333)	(227)	(346)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent									0	0	0
Total comprehensive income (loss) attributable to common stockholders									(333)	(227)	(346)
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Equity in affiliated companies’ net earnings									(73)	10	10
Net cash provided by (used in) operating activities									(444)	(487)	(467)
Cash flow from investing activities:
Capital expenditures									(4)	0	(25)
Acquisition of PT Rio Tinto Indonesia										0
Intercompany loans									0	0	0
Dividends from (investments in) consolidated subsidiaries									0	0	(15)
Other, net									104	6
Other, net											57
Net cash provided by (used in) investing activities									100	6	17
Cash flow from financing activities:
Proceeds from debt									0	0	0
Repayments of debt									0	(53)	(205)
Intercompany loans									344	526	663
Net proceeds from sale of common stock										0
Cash dividends paid and distributions received, net									0	0	0
Other, net									0	0	(10)
Net cash (used in) provided by financing activities									344	473	448
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect									0	(8)
Net decrease in cash, cash equivalents, restricted cash and restricted cash equivalents											(2)
Reportable Legal Entities | Non-Guarantor Subsidiaries
Condensed Cash Flow Statements [Line Items]
Revenues									14,362	18,569	16,351
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	2,278				4,455				2,278	4,455	4,702	4,410
Cash flow from operating activities:
Net (loss) income									(432)	3,004	2,039
Costs and Expenses									13,244	13,798	12,586
Operating income (loss)									1,118	4,771	3,765
Interest expense, net									(494)	(734)	(455)
Other Operating Income (Expense) Including Gain (Loss) on Early Extinguishment of Debt									(95)	77
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest									528	4,112	3,308
Provision for income taxes									642	874	998
Net (loss) income from continuing operations									(435)	3,019	1,973
Net income (loss) from discontinued operations									3	(15)	66
Net income from continuing operations attributable to noncontrolling interests									(86)	(68)
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Noncontrolling Interest											4
Net (loss) income attributable to common stockholders									(518)	2,936	1,885
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent									(71)	(33)	61
Total comprehensive income (loss) attributable to common stockholders									(589)	2,903	1,946
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Equity in affiliated companies’ net earnings									(321)	(219)	(337)
Net cash provided by (used in) operating activities									1,483	4,390	5,289
Cash flow from investing activities:
Capital expenditures									(2,648)	(1,969)	(1,385)
Acquisition of PT Rio Tinto Indonesia										(3,500)
Intercompany loans									0	0	0
Dividends from (investments in) consolidated subsidiaries									96	84	120
Other, net									448	(13)
Other, net											32
Net cash provided by (used in) investing activities									(2,104)	(5,398)	(1,233)
Cash flow from financing activities:
Proceeds from debt									679	632	955
Repayments of debt									(995)	(838)	(1,326)
Intercompany loans									955	306	114
Net proceeds from sale of common stock										3,710
Cash dividends paid and distributions received, net									(2,172)	(3,032)	(3,440)
Other, net									(23)	(17)	(67)
Net cash (used in) provided by financing activities									(1,556)	761	(3,764)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect									(2,177)	(247)
Net decrease in cash, cash equivalents, restricted cash and restricted cash equivalents											292
Eliminations
Condensed Cash Flow Statements [Line Items]
Revenues									0	0	0
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$ 0				$ 0				0	0	0	$ 0
Cash flow from operating activities:
Net (loss) income									815	(2,485)	(1,415)
Costs and Expenses									(12)	(10)	10
Operating income (loss)									12	10	(10)
Interest expense, net									533	478	348
Other Operating Income (Expense) Including Gain (Loss) on Early Extinguishment of Debt									(21)	(478)
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest									524	10	(10)
Provision for income taxes									2	2	(3)
Net (loss) income from continuing operations									815	(2,485)	(1,415)
Net income (loss) from discontinued operations									0	0	0
Net income from continuing operations attributable to noncontrolling interests									36	(224)
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Noncontrolling Interest											0
Net (loss) income attributable to common stockholders									851	(2,709)	(1,539)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent									71	33	(61)
Total comprehensive income (loss) attributable to common stockholders									922	(2,676)	(1,600)
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Equity in affiliated companies’ net earnings									293	(2,493)	(1,408)
Net cash provided by (used in) operating activities									0	0	0
Cash flow from investing activities:
Capital expenditures									0	0	0
Acquisition of PT Rio Tinto Indonesia										0
Intercompany loans									1,299	832	777
Dividends from (investments in) consolidated subsidiaries									(2,275)	(2,559)	(3,331)
Other, net									0	0
Other, net											0
Net cash provided by (used in) investing activities									(976)	(1,727)	(2,554)
Cash flow from financing activities:
Proceeds from debt									0	0	0
Repayments of debt									0	0	0
Intercompany loans									(1,299)	(832)	(777)
Net proceeds from sale of common stock										(210)
Cash dividends paid and distributions received, net									2,255	2,753	3,266
Other, net									20	16	65
Net cash (used in) provided by financing activities									976	1,727	2,554
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect									0	0
Net decrease in cash, cash equivalents, restricted cash and restricted cash equivalents											0
Freeport-McMoRan Oil & Gas
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Net gain on sales of assets										$ (27)
Cash flow from investing activities:
Proceeds from sales									$ 36		$ 80

QUARTERLY FINANCIAL INFORMATI_3

QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Quarterly Disclosures) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 3,911	$ 3,153	$ 3,546	$ 3,792	$ 3,684	$ 4,908	$ 5,168	$ 4,868	$ 14,402	$ 18,628	$ 16,403
Operating income (loss)	775	(38)	33	321	316	1,315	1,664	1,459	1,091	4,754	3,690
Net (loss) income from continuing operations	42	(235)	(74)	75	374	668	1,039	828	(192)	2,909	2,029
Net income (loss) from discontinued operations	1	1	0	1	4	(4)	(4)	(11)	3	(15)	66
Net income (loss)	43	(234)	(74)	76	378	664	1,035	817	(189)	2,894	2,095
Net (income) loss attributable to noncontrolling interests	(34)	27	2	(45)	107	(108)	(166)	(125)	(50)	(292)	(278)
Net (loss) income attributable to common stockholders	$ 9	$ (207)	$ (72)	$ 31	$ 485	$ 556	$ 869	$ 692	$ (239)	$ 2,602	$ 1,817
Continuing operations (in dollars per share)					$ 0.33	$ 0.38	$ 0.60	$ 0.48	$ (0.17)	$ 1.80	$ 1.21
Discontinued operations (in dollars per share)					0	0	0	(0.01)		(0.01)
Earnings per share, basic (in dollars per share)	$ 0	$ (0.15)	$ (0.05)	$ 0.02	0.33	0.38	0.60	0.47	(0.17)	1.79	1.25
Continuing operations (in dollars per share)					0.33	0.38	0.59	0.48	(0.17)	1.79	1.21
Discontinued operations (in dollars per share)					0	0	0	(0.01)	0	(0.01)	0.04
Earnings per share, diluted (in dollars per share)	$ 0	$ (0.15)	$ (0.05)	$ 0.02	$ 0.33	$ 0.38	$ 0.59	$ 0.47	$ (0.17)	$ 1.78	$ 1.25
Basic (in shares)	1,452,000,000	1,452,000,000	1,451,000,000	1,451,000,000	1,450,000,000	1,450,000,000	1,449,000,000	1,449,000,000	1,451,000,000	1,449,000,000	1,447,000,000
Diluted (in shares)	1,457,000,000	1,452,000,000	1,451,000,000	1,457,000,000	1,457,000,000	1,458,000,000	1,458,000,000	1,458,000,000	1,451,000,000	1,458,000,000	1,454,000,000

QUARTERLY FINANCIAL INFORMATI_4

QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Footnotes) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended			36 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2019
Schedule of Quarterly Financial Information [Line Items]
Net income from continuing operations attributable to noncontrolling interests									$ (50)	$ (292)	$ (274)
Production and delivery									11,514	11,687	10,258
Interest expense, net									(620)	(945)	(801)
Metals inventory adjustments	$ 79	$ 41	$ 59						179	4	8
Net Income (Loss) From Continuing Operations, Inventory Write-down									$ 144
Net Income (Loss) From Continuing Operations, Inventory Write-Down, Per Share									$ 0.10
Environmental obligations and shutdown costs		19		$ 35					$ 68
Net gain on sales of assets					$ 82	$ 70	$ 45	$ 11	417	$ 208	81
Gain (Loss) on Disposition of Assets, Common Shareholder									$ (339)
Net gains on sales of assets (usd per share)									$ 0.23	$ 0.14
Income Tax Credits and Adjustments										$ 632
Income Tax Credits and Adjustments, Net of Noncontrolling Interest										$ 574
Earnings per share attributable to common stockholders related to Tax Reform (usd per share)										$ 0.39
Change in PT-FI tax rates									$ 0	$ 504	0
Tax Cuts and Jobs Act of 2017, provisional income tax expense (benefit)									0	123	393
Operating income (loss)	(775)	38	(33)	$ (321)	(316)	$ (1,315)	(1,664)	$ (1,459)	(1,091)	(4,754)	(3,690)
Extinguishment of Debt, Gain (Loss), Net of Tax									$ 26
Extinguishment of Debt, Gain (Loss), Per Share, Net of Tax									$ 0.02
Freeport Cobalt
Schedule of Quarterly Financial Information [Line Items]
Depreciation Expense on Reclassified Assets					(48)					(31)
PT Freeport Indonesia [Member]
Schedule of Quarterly Financial Information [Line Items]
Change in PT-FI tax rates									$ 0	504	0
Production and Delivery Costs [Member]
Schedule of Quarterly Financial Information [Line Items]
Environmental obligations and shutdown costs		15
Operating Expense [Member] | Freeport Cobalt
Schedule of Quarterly Financial Information [Line Items]
Net income from continuing operations attributable to noncontrolling interests										$ (30)
Continuing operations (in dollars per share)										$ 0.02
Operating income (loss)										$ 50
Cerro Verde
Schedule of Quarterly Financial Information [Line Items]
Loss Contingency, Loss in Period									16
PT-FI charges [Member] | PT Freeport Indonesia [Member]
Schedule of Quarterly Financial Information [Line Items]
Loss Contingency, Loss in Period	266								460	223
Loss contingency, loss In period, attributable to parent									$ 379	$ 110
Gain (loss) in period, per share (in dollars per share)									$ (0.26)	$ (0.08)
Inventory Adjustment					43		$ 12
PT-FI charges [Member] | Interest expense | PT Freeport Indonesia [Member]
Schedule of Quarterly Financial Information [Line Items]
Loss Contingency, Loss in Period	$ 78
PT-FI charges [Member] | Other Expense [Member] | PT Freeport Indonesia [Member]
Schedule of Quarterly Financial Information [Line Items]
Net income from continuing operations attributable to noncontrolling interests									$ 188
PT-FI charges [Member] | Sales [Member] | PT Freeport Indonesia [Member]
Schedule of Quarterly Financial Information [Line Items]
Net income from continuing operations attributable to noncontrolling interests		$ 166
PT-FI charges [Member] | Production and Delivery Costs [Member] | PT Freeport Indonesia [Member]
Schedule of Quarterly Financial Information [Line Items]
Net income from continuing operations attributable to noncontrolling interests			$ 28
Loss Contingency, Offer to Other Party					69
Permit Fees					32
Payroll withholding taxes					72					$ 72
Cerro Verde Royalty Dispute | Royalty Assessments | Cerro Verde
Schedule of Quarterly Financial Information [Line Items]
Loss contingency, loss In period, attributable to parent									7	$ 195	186	$ 388
Gain (loss) in period, per share (in dollars per share)										$ (0.13)
Net income from continuing operations attributable to noncontrolling interests									7	$ 176	169	352
Production and delivery									6	14	203	223
Interest expense, net									(10)	(370)	(145)	(525)
Other expense									$ 0	(22)	0	$ (22)
Minimum Tax Credit Carryforwards [Member] | PT Freeport Indonesia [Member]
Schedule of Quarterly Financial Information [Line Items]
Change in PT-FI tax rates										549
MOEF Framework
Schedule of Quarterly Financial Information [Line Items]
Permit Fees										$ 32
Site Remediation, Reclamation and Closure Costs
Schedule of Quarterly Financial Information [Line Items]
Continuing operations (in dollars per share)									$ 0.05	$ 0.04
Environmental obligations and shutdown costs										$ 57
Indonesia
Schedule of Quarterly Financial Information [Line Items]
Cost of Goods and Services Sold					$ 62
Operating Segments | South America
Schedule of Quarterly Financial Information [Line Items]
Production and delivery									$ 2,326	2,365	2,244
Interest expense, net									(114)	(429)	(212)
Metals inventory adjustments									2	0	0
Net gain on sales of assets									0	0	0
Operating income (loss)									(578)	(735)	(916)
Operating Segments | South America | Cerro Verde
Schedule of Quarterly Financial Information [Line Items]
Production and delivery									1,852	1,887	1,878
Interest expense, net									(114)	(429)	(212)
Metals inventory adjustments									2	0	0
Net gain on sales of assets									0	0	0
Operating income (loss)									(621)	(709)	(868)
Operating Segments | Indonesia | Grasberg Segment [Member]
Schedule of Quarterly Financial Information [Line Items]
Loss Contingency, Loss in Period										223
Production and delivery									2,055	1,864	1,735
Interest expense, net									(82)	(1)	(4)
Metals inventory adjustments									5	0	0
Net gain on sales of assets									0	0	0
Operating income (loss)									$ (180)	(2,966)	$ (2,028)
Tax Authority, In Papau, Indonesia
Schedule of Quarterly Financial Information [Line Items]
Change in PT-FI tax rates										(504)
Tax Authority, In Papau, Indonesia | PT Freeport Indonesia [Member]
Schedule of Quarterly Financial Information [Line Items]
Change in PT-FI tax rates										$ (482)
Cerro Verde Collective Labor Agreement [Member] | Operating Segments | South America | Cerro Verde
Schedule of Quarterly Financial Information [Line Items]
Continuing operations (in dollars per share)										$ 0.02
Production and delivery										$ (69)
Cost of Goods Sold, Excluding Depreciation, Depletion and Amortization, Net of Noncontrolling Interest										(22)
Cost of Goods and Services Sold										$ 69

SUPPLEMENTARY MINERAL RESERVE_3

SUPPLEMENTARY MINERAL RESERVE INFORMATION (UNAUDITED) (Details) oz in Millions, lb in Millions	12 Months Ended
	Dec. 31, 2019lboz$ / lb$ / oz
Copper
Estimated Recoverable Proven And Probable Reserves	120,000
Long Term Average Price Used To Estimate Recoverable Reserves | $ / lb	2.50
Three Year Average Price | $ / lb	2.83
Gold
Estimated Recoverable Proven And Probable Reserves | oz	29.6
Long Term Average Price Used To Estimate Recoverable Reserves | $ / oz	1,200
Three Year Average Price | $ / oz	1,306
Molybdenum
Estimated Recoverable Proven And Probable Reserves	3,640
Long Term Average Price Used To Estimate Recoverable Reserves | $ / lb	10
Three Year Average Price | $ / lb	10.50
Silver
Long Term Average Price Used To Estimate Recoverable Reserves | $ / oz	15
Consolidated Basis [Member] | Copper
Estimated Recoverable Proven And Probable Reserves	116,000
Consolidated Basis [Member] | Gold
Estimated Recoverable Proven And Probable Reserves | oz	29.6
Consolidated Basis [Member] | Molybdenum
Estimated Recoverable Proven And Probable Reserves	3,580
Consolidated Basis [Member] | Silver
Estimated Recoverable Proven And Probable Reserves | oz	375
Consolidated Basis [Member] | Indonesia | Copper
Estimated Recoverable Proven And Probable Reserves	35,600
Consolidated Basis [Member] | Indonesia | Gold
Estimated Recoverable Proven And Probable Reserves | oz	29.1
Consolidated Basis [Member] | Indonesia | Molybdenum
Estimated Recoverable Proven And Probable Reserves	0

SUPPLEMENTARY MINERAL RESERVE_4

SUPPLEMENTARY MINERAL RESERVE INFORMATION (UNAUDITED) (Recoverable Reserves) (Details) oz in Millions, lb in Millions	Jan. 01, 2023	Jan. 01, 2020	Dec. 31, 2019lboz$ / lb$ / oz	Dec. 21, 2018
Copper
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves			120,000
Long Term Average Price Used To Estimate Recoverable Reserves | $ / lb			2.50
Gold (ounces) [Member]
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz			29.6
Long Term Average Price Used To Estimate Recoverable Reserves | $ / oz			1,200
Molybdenum mines
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves			3,640
Long Term Average Price Used To Estimate Recoverable Reserves | $ / lb			10
Silver
Estimated Recoverable Proven and Probable Reserves [Line Items]
Long Term Average Price Used To Estimate Recoverable Reserves | $ / oz			15
Net Equity Interest [Member] | Copper
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves			83,400
Net Equity Interest [Member] | Gold (ounces) [Member]
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz			16.1
Net Equity Interest [Member] | Molybdenum mines
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves			3,250
Net Equity Interest [Member] | Silver
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz			251
Consolidated Basis [Member]
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated recoverable proven and probable copper reserves in leach stockpiles (in pounds)			1,700
Estimated recoverable proven and probable copper reserves in mill stockpiles (in pounds)			500
Consolidated Basis [Member] | Copper
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves			116,000
Consolidated Basis [Member] | Copper | North America
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves			47,200
Consolidated Basis [Member] | Copper | South America
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves			33,200
Consolidated Basis [Member] | Copper | Indonesia
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves			35,600
Consolidated Basis [Member] | Gold (ounces) [Member]
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz			29.6
Consolidated Basis [Member] | Gold (ounces) [Member] | North America
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz			0.5
Consolidated Basis [Member] | Gold (ounces) [Member] | South America
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz			0
Consolidated Basis [Member] | Gold (ounces) [Member] | Indonesia
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz			29.1
Consolidated Basis [Member] | Molybdenum mines
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves			3,580
Consolidated Basis [Member] | Molybdenum mines | North America
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves			2,870
Consolidated Basis [Member] | Molybdenum mines | South America
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves			710
Consolidated Basis [Member] | Molybdenum mines | Indonesia
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves			0
Consolidated Basis [Member] | Silver
Estimated Recoverable Proven and Probable Reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz			375
PT Freeport Indonesia [Member]
Estimated Recoverable Proven and Probable Reserves [Line Items]
Ownership percentage of subsidiary			48.76%
PT Freeport Indonesia [Member]
Estimated Recoverable Proven and Probable Reserves [Line Items]
Ownership percentage of subsidiary				48.76%
Forecast [Member] | PT Freeport Indonesia [Member]
Estimated Recoverable Proven and Probable Reserves [Line Items]
Ownership percentage of subsidiary	48.76%	81.00%

SUPPLEMENTARY MINERAL RESERVE_5

SUPPLEMENTARY MINERAL RESERVE INFORMATION (UNAUDITED) (Ore Reserves) (Details) oz in Millions, lb in Millions, T in Millions	Dec. 31, 2019lbTozg
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Amount of ore reserves (in metric tons of ore) | T	18,137
Copper
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	120,000
Copper | Consolidated Basis [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	116,000
Copper | Net Equity Interest [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	83,400
Gold
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	29.6
Gold | Consolidated Basis [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	29.6
Gold | Net Equity Interest [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	16.1
Molybdenum
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	3,640
Molybdenum | Consolidated Basis [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	3,580
Molybdenum | Net Equity Interest [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	3,250
Morenci | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Amount of ore reserves (in metric tons of ore) | T	4,435
Average ore grade of copper per metric ton	0.23%
Average ore grade of gold per metric ton (in grams per metric ton) | g	0
Average ore grade of molybdenum per metric ton	0.00%
Morenci | Copper | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	14,500
Morenci | Gold | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	0
Morenci | Molybdenum | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	190
Bagdad [Member] | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Amount of ore reserves (in metric tons of ore) | T	2,535
Average ore grade of copper per metric ton	0.32%
Average ore grade of gold per metric ton (in grams per metric ton) | g	0
Average ore grade of molybdenum per metric ton	0.02%
Bagdad [Member] | Copper | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	15,300
Bagdad [Member] | Gold | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	0.2
Bagdad [Member] | Molybdenum | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	790
Safford [Member] | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Amount of ore reserves (in metric tons of ore) | T	812
Average ore grade of copper per metric ton	0.45%
Average ore grade of gold per metric ton (in grams per metric ton) | g	0
Average ore grade of molybdenum per metric ton	0.00%
Safford [Member] | Copper | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	5,900
Safford [Member] | Gold | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	0
Safford [Member] | Molybdenum | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	0
Sierrita [Member] | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Amount of ore reserves (in metric tons of ore) | T	2,960
Average ore grade of copper per metric ton	0.23%
Average ore grade of gold per metric ton (in grams per metric ton) | g	0
Average ore grade of molybdenum per metric ton	0.02%
Sierrita [Member] | Copper | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	12,500
Sierrita [Member] | Gold | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	0.1
Sierrita [Member] | Molybdenum | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	1,230
Tyrone [Member] | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Amount of ore reserves (in metric tons of ore) | T	49
Average ore grade of copper per metric ton	0.25%
Average ore grade of gold per metric ton (in grams per metric ton) | g	0
Average ore grade of molybdenum per metric ton	0.00%
Tyrone [Member] | Copper | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	300
Tyrone [Member] | Gold | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	0
Tyrone [Member] | Molybdenum | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	0
Chino [Member] | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Amount of ore reserves (in metric tons of ore) | T	324
Average ore grade of copper per metric ton	0.45%
Average ore grade of gold per metric ton (in grams per metric ton) | g	0.0003
Average ore grade of molybdenum per metric ton	0.00%
Chino [Member] | Copper | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	2,700
Chino [Member] | Gold | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	0.3
Chino [Member] | Molybdenum | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	10
Miami [Member] | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Amount of ore reserves (in metric tons of ore) | T	0
Average ore grade of copper per metric ton	0.00%
Average ore grade of gold per metric ton (in grams per metric ton) | g	0
Average ore grade of molybdenum per metric ton	0.00%
Miami [Member] | Copper | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	100
Miami [Member] | Gold | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	0
Miami [Member] | Molybdenum | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	0
Henderson [Member] | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Amount of ore reserves (in metric tons of ore) | T	67
Average ore grade of copper per metric ton	0.00%
Average ore grade of gold per metric ton (in grams per metric ton) | g	0
Average ore grade of molybdenum per metric ton	0.17%
Henderson [Member] | Copper | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	0
Henderson [Member] | Gold | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	0
Henderson [Member] | Molybdenum | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	220
Climax [Member] | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Amount of ore reserves (in metric tons of ore) | T	160
Average ore grade of copper per metric ton	0.00%
Average ore grade of gold per metric ton (in grams per metric ton) | g	0
Average ore grade of molybdenum per metric ton	0.15%
Climax [Member] | Copper | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	0
Climax [Member] | Gold | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	0
Climax [Member] | Molybdenum | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	490
Cerro Verde | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Amount of ore reserves (in metric tons of ore) | T	4,265
Average ore grade of copper per metric ton	0.35%
Average ore grade of gold per metric ton (in grams per metric ton) | g	0
Average ore grade of molybdenum per metric ton	0.01%
Cerro Verde | Copper | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	29,300
Cerro Verde | Gold | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	0
Cerro Verde | Molybdenum | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	710
El Abra | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Amount of ore reserves (in metric tons of ore) | T	717
Average ore grade of copper per metric ton	0.41%
Average ore grade of gold per metric ton (in grams per metric ton) | g	0
Average ore grade of molybdenum per metric ton	0.00%
El Abra | Copper | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	3,900
El Abra | Gold | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	0
El Abra | Molybdenum | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	0
Deep Ore Zone [Member] | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Amount of ore reserves (in metric tons of ore) | T	29
Average ore grade of copper per metric ton	0.50%
Average ore grade of gold per metric ton (in grams per metric ton) | g	0.0048
Average ore grade of molybdenum per metric ton	0.00%
Deep Ore Zone [Member] | Copper | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	300
Deep Ore Zone [Member] | Gold | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	0.4
Deep Ore Zone [Member] | Molybdenum | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	0
Big Gossan [Member] | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Amount of ore reserves (in metric tons of ore) | T	55
Average ore grade of copper per metric ton	2.33%
Average ore grade of gold per metric ton (in grams per metric ton) | g	0.0097
Average ore grade of molybdenum per metric ton	0.00%
Big Gossan [Member] | Copper | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	2,600
Big Gossan [Member] | Gold | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	1.2
Big Gossan [Member] | Molybdenum | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	0
Grasberg block cave [Member] | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Amount of ore reserves (in metric tons of ore) | T	959
Average ore grade of copper per metric ton	0.97%
Average ore grade of gold per metric ton (in grams per metric ton) | g	0.0073
Average ore grade of molybdenum per metric ton	0.00%
Grasberg block cave [Member] | Copper | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	17,200
Grasberg block cave [Member] | Gold | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	14.2
Grasberg block cave [Member] | Molybdenum | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	0
Kucing Liar [Member] | Undeveloped [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Amount of ore reserves (in metric tons of ore) | T	340
Average ore grade of copper per metric ton	1.25%
Average ore grade of gold per metric ton (in grams per metric ton) | g	0.0104
Average ore grade of molybdenum per metric ton	0.00%
Kucing Liar [Member] | Copper | Undeveloped [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	8,000
Kucing Liar [Member] | Gold | Undeveloped [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	5.1
Kucing Liar [Member] | Molybdenum | Undeveloped [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	0
Deep Mill Level Zone [Member] | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Amount of ore reserves (in metric tons of ore) | T	429
Average ore grade of copper per metric ton	0.92%
Average ore grade of gold per metric ton (in grams per metric ton) | g	0.0075
Average ore grade of molybdenum per metric ton	0.00%
Deep Mill Level Zone [Member] | Copper | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	7,600
Deep Mill Level Zone [Member] | Gold | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves | oz	8.2
Deep Mill Level Zone [Member] | Molybdenum | Productive Land [Member]
Ore, average ore grades and recoverable proven and probable reserves [Line Items]
Estimated Recoverable Proven And Probable Reserves	0

SCHEDULE II - VALUATION AND Q_2

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Valuation allowance, increase (decrease)	$ (69)
Tax Cuts and Jobs Act of 2017, change in deferred tax asset valuation allowance	44	$ 1,100
Tax Cuts and Jobs Act of 2017, Tax Credit Carryforwards, Alternative Minimum Tax		371
Valuation allowance for deferred tax assets
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	4,507	4,575	$ 6,058
Other Additions (Deductions)	50	(345)	(1,484)
Additons Charged to Other Accounts	19	8	1
SEC Schedule, 12-09, Valuation Allowances and Reserves, Period Increase (Decrease)	0
Balance at End of Year	4,576	4,507	4,575
Reserve for Taxes, Other than Income Taxes [Member]
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	62	58	64
Other Additions (Deductions)	0	7	(2)
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction	0		0
SEC Schedule, 12-09, Valuation Allowance and Reserves, Deduction, Other	(4)	(2)	(4)
Balance at End of Year	58	$ 62	$ 58
Foreign Tax Credits
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Valuation allowance, increase (decrease)	(208)
Net Operating Losses
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Valuation allowance, increase (decrease)	$ (98)

Uncategorized Items - a2019form

Label	Element	Value
Proceeds from Dividends Received	us-gaap_ProceedsFromDividendsReceived	$ 0