Freeport-McMoRan (FCX) 10-Q 8 Nov 24 2024 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2024	Oct. 31, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-11307-01
Entity Registrant Name	Freeport-McMoRan Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	74-2480931
Entity Address, Address Line One	333 North Central Avenue
Entity Address, City or Town	Phoenix
Entity Address, State or Province	AZ
Entity Address, Postal Zip Code	85004-2189
City Area Code	(602)
Local Phone Number	366-8100
Title of 12(b) Security	Common Stock, par value $0.10 per share
Trading Symbol	FCX
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		1,436,927,710
Entity Central Index Key	0000831259
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 5,000	$ 4,758
Restricted cash and cash equivalents	1,117	1,208
Trade accounts receivable	979	1,209
Value added and other tax receivables	570	455
Inventories:
Product	2,709	2,472
Materials and supplies, net	2,328	2,169
Mill and leach stockpiles	1,406	1,419
Other current assets	436	375
Total current assets	14,545	14,065
Property, plant, equipment and mine development costs, net	37,750	35,295
Long-term mill and leach stockpiles	1,257	1,336
Other assets	1,848	1,810
Total assets	55,400	52,506
Current liabilities:
Accounts payable and accrued liabilities	3,824	3,729
Long-term Debt, Current Maturities	769	766
Accrued income taxes	1,072	786
Environmental And Asset Retirement Obligations, Current	364	316
Dividends Payable, Current	218	218
Total current liabilities	6,247	5,815
Long-term debt, less current portion	8,910	8,656
Environmental and asset retirement obligations, less current portion	5,103	4,624
Deferred income taxes	4,492	4,453
Other liabilities	1,782	1,648
Total liabilities	26,534	25,196
Stockholders’ equity:
Common stock	162	162
Capital in excess of par value	23,997	24,637
Accumulated deficit	(444)	(2,059)
Accumulated other comprehensive loss	(273)	(274)
Common stock held in treasury	(5,894)	(5,773)
Total stockholders’ equity	17,548	16,693
Noncontrolling interests	11,318	10,617
Total equity	28,866	27,310
Total liabilities and equity	$ 55,400	$ 52,506

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Revenues	$ 6,790	$ 5,824	$ 19,735	$ 16,950
Cost of sales:
Production and delivery	4,077	3,553	11,796	10,267
Depreciation, depletion and amortization	600	533	1,704	1,479
Total cost of sales	4,677	4,086	13,500	11,746
Selling, general and administrative expenses	117	118	384	359
Exploration and research expenses	38	30	115	103
Environmental obligations and shutdown costs	20	98	115	239
Total costs and expenses	4,852	4,332	14,114	12,447
Operating income	1,938	1,492	5,621	4,503
Interest expense, net	(72)	(96)	(249)	(418)
Net gain on early extinguishment of debt	0	5	0	10
Other income, net	97	71	295	183
Income before income taxes and equity in affiliated companies’ net earnings	1,963	1,472	5,667	4,278
Provision for income taxes	(737)	(508)	(2,003)	(1,546)
Equity in affiliated companies’ net earnings	10	0	14	12
Net income	1,236	964	3,678	2,744
Net income (loss) attributable to noncontrolling interests	710	510	2,063	1,284
Net income attributable to common stockholders	$ 526	$ 454	$ 1,615	$ 1,460
Net income per share attributable to common stockholders:
Earnings per share, basic (in dollars per share)	$ 0.36	$ 0.31	$ 1.12	$ 1.01
Earnings per share, diluted (in dollars per share)	$ 0.36	$ 0.31	$ 1.11	$ 1.01
Weighted-average shares of common stock outstanding:
Basic weighted-average shares of common stock outstanding	1,438	1,435	1,438	1,434
Diluted weighted-average shares of common shares outstanding	1,444	1,443	1,445	1,443
Dividends declared per share of common stock (in dollars per share)	$ 0.15	$ 0.15	$ 0.45	$ 0.45

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 1,236	$ 964	$ 3,678	$ 2,744
Defined benefit plans:
Amortization of unrecognized amounts included in net periodic benefit costs	0	1	1	3
Foreign exchange gains (losses)	1	(1)	0	0
Other comprehensive income	1	0	1	3
Total comprehensive income	1,237	964	3,679	2,747
Total comprehensive income attributable to noncontrolling interests	(710)	(509)	(2,063)	(1,284)
Total comprehensive income (loss)	$ 527	$ 455	$ 1,616	$ 1,463

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flow from operating activities:
Net income	$ 3,678	$ 2,744
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion and amortization	1,704	1,479
Net charges for environmental and asset retirement obligations, including accretion	382	383
Payments for environmental and asset retirement obligations	(157)	(181)
Stock-based compensation	94	89
Net charges for defined pension and postretirement plans	29	44
Pension plan contributions	(58)	(10)
Net gain on early extinguishment of debt	0	(10)
Deferred income taxes	36	130
Change in deferred profit on PT Freeport Indonesia’s sales to PT Smelting	0	(112)
Charges for social investment programs at PT Freeport Indonesia	81	57
Payments for social investment programs at PT Freeport Indonesia	(50)	(29)
Other, net	14	59
Changes in working capital and other:
Accounts receivable	93	550
Inventories	(301)	(738)
Other current assets	(24)	7
Accounts payable and accrued liabilities	(79)	(151)
Accrued income taxes and timing of other tax payments	282	(352)
Net cash provided by operating activities	5,724	3,959
Cash flow from investing activities:
Capital expenditures	(3,569)	(3,462)
Acquisition of additional ownership interest in Cerro Verde	(210)	0
Loans to PT Smelting for expansion	(28)	(109)
Proceeds from sales of assets and other, net	10	(13)
Net cash used in investing activities	(3,797)	(3,584)
Cash flow from financing activities:
Proceeds from debt	1,948	1,186
Repayments of debt	(1,699)	(2,397)
Cash dividends and distributions paid:
Common stock	(649)	(647)
Noncontrolling interests	(1,269)	(407)
Treasury stock purchases	(59)	0
Contributions from noncontrolling interests	0	50
Proceeds from exercised stock options	27	41
Payments for withholding of employee taxes related to stock-based awards	(35)	(50)
Other, net	(38)	(2)
Net cash used in financing activities	(1,774)	(2,226)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	153	(1,851)
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year	6,063	8,390
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	6,216	6,539
North America Copper Mines Segment
Cash flow from investing activities:
Capital expenditures	(743)	(545)
South America Mines Segment
Cash flow from investing activities:
Capital expenditures	(272)	(259)
Grasberg Segment
Cash flow from investing activities:
Capital expenditures	(1,198)	(1,209)
Indonesia Smelter
Cash flow from investing activities:
Capital expenditures	(1,005)	(1,258)
Molybdenum
Cash flow from investing activities:
Capital expenditures	(88)	(43)
Other Segments
Cash flow from investing activities:
Capital expenditures	$ (263)	$ (148)

Consolidated Statement of Equit

Consolidated Statement of Equity (Unaudited) - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Capital in Excess of Par Value	Accumulated Deficit	AOCI Attributable to Parent	Common Stock Held in Treasury	Total Stockholder's Equity	Noncontrolling Interests
Balance (in shares) at Dec. 31, 2022		1,613				183
Balance at Dec. 31, 2022	$ 24,871	$ 161	$ 25,322	$ (3,907)	$ (320)	$ (5,701)	$ 15,555	$ 9,316
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercised and issued stock-based awards (in shares)		5
Exercised and issued stock-based awards	63	$ 1	62				63
Stock-based compensation, including the tender of shares (in shares)						1
Stock-based compensation, including the tender of shares	2		74			$ (71)	3	(1)
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders								407
Dividends	1,056
Dividends			(649)				(649)
Contributions from noncontrolling interests	50		24				24	26
Net loss attributable to common stockholders	1,460			1,460			1,460
Net income (loss) attributable to noncontrolling interests	1,284							1,284
Other comprehensive income	3				3		3	0
Balance (in shares) at Sep. 30, 2023		1,618				184
Balance at Sep. 30, 2023	26,677	$ 162	24,833	(2,447)	(317)	$ (5,772)	16,459	10,218
Balance (in shares) at Jun. 30, 2023		1,618				184
Balance at Jun. 30, 2023	26,027	$ 162	25,028	(2,901)	(318)	$ (5,769)	16,202	9,825
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercised and issued stock-based awards	7		7				7
Stock-based compensation, including the tender of shares	11		14			$ (3)	11
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders								116
Dividends	332
Dividends			(216)				(216)
Net loss attributable to common stockholders	454			454			454
Net income (loss) attributable to noncontrolling interests	510							510
Other comprehensive income	0				1		1	(1)
Balance (in shares) at Sep. 30, 2023		1,618				184
Balance at Sep. 30, 2023	26,677	$ 162	24,833	(2,447)	(317)	$ (5,772)	16,459	10,218
Balance (in shares) at Dec. 31, 2023		1,619				184
Balance at Dec. 31, 2023	27,310	$ 162	24,637	(2,059)	(274)	$ (5,773)	16,693	10,617
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercised and issued stock-based awards (in shares)		5				1
Exercised and issued stock-based awards	54		54				54
Stock-based compensation, including the tender of shares (in shares)						1
Stock-based compensation, including the tender of shares	13		77			$ (62)	15	(2)
Treasury stock purchases (in shares)						1
Treasury stock purchases	(59)					$ (59)	(59)
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders								1,269
Acquisition of additional ownership interest in Cerro Verde	(215)		(125)				(125)
Dividends	1,918
Dividends			(649)				(649)
Contributions from noncontrolling interests	2		3				3	(1)
Net loss attributable to common stockholders	1,615			1,615			1,615
Net income (loss) attributable to noncontrolling interests	2,063							2,063
Other comprehensive income	1				1		1
Balance (in shares) at Sep. 30, 2024		1,624				187
Balance at Sep. 30, 2024	28,866	$ 162	23,997	(444)	(273)	$ (5,894)	17,548	11,318
Balance (in shares) at Jun. 30, 2024		1,624				186
Balance at Jun. 30, 2024	28,686	$ 162	24,321	(970)	(274)	$ (5,835)	17,404	11,282
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercised and issued stock-based awards	1		1				1
Stock-based compensation, including the tender of shares	14		13				13	1
Treasury stock purchases (in shares)						1
Treasury stock purchases	(59)					$ (59)	(59)
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders								584
Acquisition of additional ownership interest in Cerro Verde	(215)		(125)					(90)
Dividends	800
Dividends			(216)				(216)
Contributions from noncontrolling interests	2		3				3	(1)
Net loss attributable to common stockholders	526			526			526
Net income (loss) attributable to noncontrolling interests	710							710
Other comprehensive income	1				1		1	0
Balance (in shares) at Sep. 30, 2024		1,624				187
Balance at Sep. 30, 2024	$ 28,866	$ 162	$ 23,997	$ (444)	$ (273)	$ (5,894)	$ 17,548	$ 11,318

General Information

General Information	9 Months Ended
	Sep. 30, 2024
General Information [Abstract]
General Information	GENERAL INFORMATION The accompanying unaudited consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and do not include all information and disclosures required by generally accepted accounting principles in the United States (U.S.). Therefore, this information should be read in conjunction with Freeport-McMoRan Inc.’s (FCX) consolidated financial statements and notes contained in its annual report on Form 10-K for the year ended December 31, 2023 (2023 Form 10-K). The information furnished herein reflects all adjustments that are, in the opinion of management, necessary for a fair statement of the results for the interim periods reported. All such adjustments are, in the opinion of management, of a normal recurring nature. Operating results for the nine-month period ended September 30, 2024, are not necessarily indicative of the results that may be expected for the year ending December 31, 2024. Dollar amounts in tables are stated in millions, except per share amounts. Cerro Verde. In September 2024, FCX purchased 5.3 million shares of Cerro Verde common stock for a total cost of $210 million, increasing FCX’s ownership interest in Cerro Verde to 55.08% from 53.56%. As a result of the transaction, the carrying value of Cerro Verde’s noncontrolling interest was reduced by $90 million, with $125 million recorded to capital in excess to par value, including a $5 million deferred tax impact. PT Smelting. In December 2023, PT Smelting completed an expansion of its facilities. The project was funded by PT Freeport Indonesia (PT-FI) with borrowings totaling $254 million that converted to equity effective June 30, 2024, increasing PT-FI’s ownership in PT Smelting to 66% from 39.5%. As discussed in Note 3 of FCX’s 2023 Form 10-K, FCX has determined that PT Smelting, which is owned by PT-FI and Mitsubishi Materials Corporation, is a variable interest entity. Since mutual consent of both PT Smelting shareholders is required to make the decisions that most significantly impact the economic performance of PT Smelting, PT-FI is not the primary beneficiary. Accordingly, PT-FI is continuing to account for its investment in PT Smelting under the equity method. Attribution of PT Freeport Indonesia’s Net Income or Loss. As discussed in Note 3 of FCX’s 2023 Form 10-K, beginning January 1, 2023, the attribution of PT-FI’s net income or loss is based on equity ownership percentages (48.76% for FCX, 26.24% for PT Mineral Industri Indonesia (MIND ID) and 25.00% for PT Indonesia Papua Metal Dan Mineral) with certain exceptions, as contemplated by the economics replacement agreement in the PT-FI shareholders agreement. As further discussed in Note 3, in first-quarter 2024, PT-FI recorded net credits of $215 million associated with the closure of its 2021 corporate income tax audit and resolution of the framework for Indonesia disputed tax matters. PT-FI’s net income and cash dividends associated with the settlement of this historical tax matter that originated before December 31, 2022, were attributed approximately 81% to FCX. As discussed in Note 3 of FCX’s 2023 Form 10-K, because PT-FI did not achieve the Gold Target during the Initial Period (as defined in the PT-FI shareholders agreement), PT-FI’s net income and cash dividends associated with the sale of approximately 190,000 ounces of gold during 2023 were attributed approximately 81% to FCX. Subsequent Events. FCX evaluated events after September 30, 2024, and through the date the consolidated financial statements were issued and determined any events and transactions occurring during this period that would require recognition or disclosure are appropriately addressed in these consolidated financial statements.

Earnings per Share

Earnings per Share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE FCX calculates its basic net income per share of common stock under the two-class method and calculates its diluted net income per share of common stock using the more dilutive of the two-class method or the treasury-stock method. Basic net income per share of common stock was computed by dividing net 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 period. Diluted net 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 antidilutive. Reconciliations of net income and weighted-average shares of common stock outstanding for purposes of calculating basic and diluted net income per share follow: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Net income $ 1,236 $ 964 $ 3,678 $ 2,744 Net income attributable to noncontrolling interests (710) (510) (2,063) (1,284) Undistributed dividends and earnings allocated to participating securities (6) (5) (6) (5) Net income attributable to common stockholders $ 520 $ 449 $ 1,609 $ 1,455 Basic weighted-average shares of common stock outstanding 1,438 1,435 1,438 1,434 Add shares issuable upon exercise or vesting of dilutive stock options and restricted stock units 6 8 7 9 Diluted weighted-average shares of common stock outstanding 1,444 1,443 1,445 1,443 Net income per share attributable to common stockholders: Basic $ 0.36 $ 0.31 $ 1.12 $ 1.01 Diluted $ 0.36 $ 0.31 $ 1.11 $ 1.01

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES Geographic sources of FCX’s benefit (provision) for income taxes follow: Nine Months Ended September 30, 2024 2023 U.S. $ 30 $ 3 International (2,033) (1,549) Total $ (2,003) $ (1,546) FCX’s consolidated effective income tax rate is a function of the various rates in the jurisdictions where it operates and was 35% for the first nine months of 2024, and 36% for the first nine months of 2023. The 2024 effective income tax rate reflects net benefits of (i) $182 million related to closure of PT-FI’s 2021 corporate income tax audit and resolution of the framework for Indonesia disputed tax matters (see below for further discussion) and (ii) $36 million associated with the closure of FCX’s 2017 and 2018 U.S. federal income tax exams. The 2023 effective income tax rate reflects the impact of pre-tax, nondeductible charges totaling $142 million for the first nine months of 2023 associated with contested tax rulings issued by the Peruvian Supreme Court. FCX expects its U.S. jurisdiction to generate net losses for the year 2024 that will not result in a realized tax benefit; accordingly, applicable accounting rules require FCX to adjust its estimated annual effective tax rate to exclude the impact of U.S. net losses. PT-FI Historical Tax Matters. In conjunction with closure of PT-FI’s 2021 corporate income tax audit and resolution of the framework for Indonesia disputed tax matters in first-quarter 2024, PT-FI recorded net credits of $215 million, including $199 million to provision for income taxes, $8 million to production and delivery and $8 million to interest expense, net. In addition, FCX recognized a charge of $17 million to provision for income taxes related to withholding taxes and a credit of $26 million in other income, net associated with the reduction in the related accrual to indemnify MIND ID from potential losses arising from historical tax disputes. Resolution of the framework for Indonesia disputed tax matters also resulted in a decrease of unrecognized tax benefits of $276 million and a decrease of $43 million in related interest and penalties, as well as a decrease in contingencies related to Indonesia tax matters of $179 million, including a $35 million decrease associated with penalties and interest. Refer to Notes 11 and 12 of FCX’s 2023 Form 10-K for further discussion. Uncertain Tax Positions. As further discussed in Note 7, in May 2024, an arbitration tribunal rejected FCX’s and Cerro Verde’s claims relating to the assessment of mining royalties on ore processed by the Cerro Verde concentrator for the period from December 2006 to December 2013. Cerro Verde had previously paid the full amount of these disputed tax assessments, including the related interest and penalties, and a full reserve had been applied against these amounts; as such, the decision by the arbitration tribunal had no impact on FCX’s consolidated financial statements. FCX has reduced its unrecognized tax benefits by $269 million and related interest and penalties by $319 million (refer to Note 11 of FCX’s 2023 Form 10-K for a summary of unrecognized tax benefits and related interest and penalties). U.S. Inflation Reduction Act of 2022. The provisions of the U.S. Inflation Reduction Act of 2022 (the Act) became applicable to FCX on January 1, 2023. The Act includes, among other provisions, a new Corporate Alternative Minimum Tax (CAMT) of 15% on the adjusted financial statement income (AFSI) of corporations with average annual AFSI exceeding $1.0 billion over a three-year period. In September 2024, the Internal Revenue Service (IRS) issued proposed regulations that provide guidance on the application of CAMT, which is not final and subject to change. Based on the proposed guidance released by the IRS, FCX has determined that the provisions of the Act would not impact its financial results for the first nine months of 2024 or for the year 2023. Pillar Two of the Global Anti-Base Erosion Rules. In December 2021, the Organisation for Economic Co-operation and Development (OECD) published a framework for Pillar Two of the Global Anti-Base Erosion Rules, which was designed to coordinate participating jurisdictions in updating the international tax system to ensure that large multinational companies pay a minimum level of income tax. Recommendations from the OECD regarding a global minimum income tax and other changes are being considered and/or implemented in jurisdictions where FCX operates. At current metals market prices, FCX does not expect enactment of the recommended framework in jurisdictions where it operates to materially impact its financial results.

Debt and Equity

Debt and Equity	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Debt and Equity	DEBT AND EQUITY The components of debt follow: September 30, December 31, 2023 PT-FI revolving credit facility $ 250 $ — Senior notes and debentures: Issued by FCX 6,010 6,005 Issued by PT-FI 2,982 2,980 Issued by Freeport Minerals Corporation 353 354 Other 84 83 Total debt 9,679 9,422 Less current portion of debt (769) (766) Long-term debt $ 8,910 $ 8,656 Revolving Credit Facilities. FCX and PT-FI have a $3.0 billion, unsecured revolving credit facility that matures in October 2027. Under the terms of the revolving credit facility, FCX may obtain loans and issue letters of credit in an aggregate amount of up to $3.0 billion, with letters of credit issuance limited to $1.5 billion and PT-FI’s capacity limited to $500 million. At September 30, 2024, there were no borrowings and $7 million in letters of credit issued under FCX’s revolving credit facility. At September 30, 2024, PT-FI had $250 million in borrowings outstanding under its $1.75 billion unsecured revolving credit facility that matures in November 2028, and Cerro Verde had no borrowings outstanding under its $350 million unsecured revolving credit facility that matures in May 2027. At September 30, 2024, FCX, PT-FI and Cerro Verde were in compliance with their respective credit facility’s covenants. Interest Expense, Net. Consolidated interest costs (before capitalization) totaled $173 million in third-quarter 2024, $165 million in third-quarter 2023, $529 million for the first nine months of 2024 and $606 million for the first nine months of 2023. Consolidated interest costs (before capitalization) include a credit of $11 million in the 2024 periods associated with the closure of FCX’s 2017 and 2018 U.S. federal income tax exams and a credit of $13 million in the 2023 periods for the settlement of interest on Cerro Verde’s historical profit sharing liability. Additionally, the first nine months of 2023 included $74 million of interest charges associated with contested tax rulings issued by the Peruvian Supreme Court. Capitalized interest added to property, plant, equipment and mine development costs, net, totaled $101 million in third-quarter 2024, $69 million in third-quarter 2023, $280 million for the first nine months of 2024 and $188 million for the first nine months of 2023. The increase in capitalized interest costs in the 2024 periods compared to the 2023 periods, primarily resulted from increased construction and development costs for projects in progress, primarily at PT-FI’s new smelter and precious metals refinery (PMR) (collectively PT-FI’s new downstream processing facilities). Share Repurchase Program and Dividends. In July 2024, FCX acquired 1.2 million shares of its common stock for a total cost of $59 million ($50.48 average cost per share) bringing total purchases under its $5.0 billion share repurchase program to 49.0 million shares of common stock for a cost of $1.9 billion ($38.64 average cost per share). The timing and amount of share repurchases are at the discretion of management and will depend on a variety of factors. The share repurchase program may be modified, increased, suspended or terminated at any time at FCX’s Board of Directors’ (Board) discretion.

Financial Instruments

Financial Instruments	9 Months Ended
	Sep. 30, 2024
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. 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 and cathode customers request a fixed market price instead of the Commodity Exchange Inc. (COMEX) average copper price in the month of shipment. FCX hedges this price exposure in a manner that allows it to receive the COMEX average price in the month of shipment while the customers pay the fixed price they requested. FCX accomplishes this by entering into copper futures or swap contracts. Hedging gains or losses from these copper futures and swap contracts are recorded in revenues. FCX did not have any significant gains or losses resulting from hedge ineffectiveness during the nine-month periods ended September 30, 2024 and 2023. At September 30, 2024, FCX held copper futures and swap contracts that qualified for hedge accounting for 101 million pounds at an average contract price of $4.30 per pound, with maturities through September 2026. Summary of Gains (Losses). A summary of realized and unrealized gains (losses) recognized in revenues for derivative financial instruments related to commodity contracts that are designated and qualify as fair value hedge transactions, including on the related hedged item follows: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Copper futures and swap contracts: Unrealized gains (losses): Derivative financial instruments $ 12 $ 2 $ 22 $ (9) Hedged item – firm sales commitments (12) (2) (22) 9 Realized (losses) gains: Matured derivative financial instruments — (4) 29 (1) Derivatives Not Designated as Hedging Instruments. Embedded Derivatives. Certain FCX sales contracts provide for provisional pricing primarily based on the London Metal Exchange (LME) copper price or the COMEX copper price and the London Bullion Market Association (London) gold price at the time of shipment as specified in the contract. FCX receives market prices based on prices in the specified future month, which results in price fluctuations recorded in revenues until the date of settlement. FCX records revenues and invoices customers at the time of shipment based on then-current LME or COMEX copper prices and the London gold price 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, cathode or anode slimes at the then-current LME copper, COMEX copper or London gold prices. 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, cathode and anode slime 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 London gold price, until the date of final pricing. Similarly, FCX purchases copper under contracts that provide for provisional pricing. Mark-to-market price fluctuations from these embedded derivatives are recorded through the settlement date and are reflected in revenues for sales contracts and in inventory for purchase contracts. A summary of FCX’s embedded derivatives at September 30, 2024, follows: Open Positions Average Price Maturities Through Contract Market Embedded derivatives in provisional sales contracts: Copper (millions of pounds) 327 $ 4.23 $ 4.43 February 2025 Gold (thousands of ounces) 218 2,492 2,654 December 2024 Embedded derivatives in provisional purchase contracts: Copper (millions of pounds) 26 4.29 4.42 December 2024 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 production and delivery costs. At September 30, 2024, Atlantic Copper held net copper forward sales contracts for 112 million pounds at an average contract price of $4.22 per pound, with maturities through December 2024. Summary of Gains (Losses). A summary of realized and unrealized gains (losses) recognized in operating income for commodity contracts that do not qualify as hedge transactions, including embedded derivatives, follows: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Embedded derivatives in provisional sales contracts: a Copper $ 29 $ (30) $ 276 $ 31 Gold and other metals 81 (10) 170 12 Copper forward contracts b (19) (1) (45) (3) 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: September 30, December 31, 2023 Commodity Derivative Assets: Derivatives designated as hedging instruments : Copper futures and swap contracts $ 27 $ 4 Derivatives not designated as hedging instruments : Embedded derivatives in provisional sales/purchase contracts 108 76 Total derivative assets $ 135 $ 80 Commodity Derivative Liabilities: Derivatives not designated as hedging instruments : Embedded derivatives in provisional sales/purchase contracts 11 23 Copper forward contracts 23 1 Total derivative liabilities $ 34 $ 24 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 net unsettled commodity contracts in the balance sheet follows: Assets Liabilities September 30, December 31, 2023 September 30, December 31, 2023 Gross amounts recognized: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts $ 108 $ 76 $ 11 $ 23 Copper derivatives 27 4 23 1 135 80 34 24 Less gross amounts of offset: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts 3 — 3 — 3 — 3 — Net amounts presented in balance sheet: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts 105 76 8 23 Copper derivatives 27 4 23 1 $ 132 $ 80 $ 31 $ 24 Balance sheet classification: Trade accounts receivable $ 101 $ 76 $ 4 $ 2 Other current assets 26 4 — — Accounts payable and accrued liabilities 5 — 27 22 $ 132 $ 80 $ 31 $ 24 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. As of September 30, 2024, the maximum amount of credit exposure associated with derivative transactions was $135 million. Other Financial Instruments. Other financial instruments include cash and cash equivalents, restricted cash and cash equivalents, accounts receivable, investment securities, legally restricted trust assets, accounts payable and accrued liabilities, accrued income taxes, dividends payable and debt. The carrying value for these financial instruments classified as current assets or liabilities approximates fair value because of their short-term nature and generally negligible credit losses (refer to Note 6 for the fair values of investment securities, legally restricted funds and debt). Cash and Cash Equivalents and Restricted Cash and Cash Equivalents. The following table provides a reconciliation of total cash and cash equivalents and restricted cash and cash equivalents presented in the consolidated statements of cash flows: September 30, December 31, 2023 Balance sheet components: Cash and cash equivalents a $ 5,000 $ 4,758 Restricted cash and cash equivalents, current b 1,117 1,208 Restricted cash and cash equivalents, long-term - included in other assets 99 97 Total cash and cash equivalents and restricted cash and cash equivalents presented in the consolidated statements of cash flows $ 6,216 $ 6,063 a. Includes (i) time deposits of $0.1 billion at September 30, 2024, and $0.3 billion at December 31, 2023, and (ii) cash designated for PT-FI’s new downstream processing facilities totaling $0.2 billion at December 31, 2023. b.

Fair Value Measurement

Fair Value Measurement	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurement	FAIR VALUE MEASUREMENT Fair value accounting guidance includes a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). FCX did not have any significant transfers in or out of Level 3 during third-quarter 2024. 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 Gulf of Mexico (GOM) oil and gas properties (which was recorded under the loss recovery approach) and debt. A summary of the carrying amount and fair value of FCX’s financial instruments (including those measured at net asset value (NAV) as a practical expedient), other than cash and cash equivalents, restricted cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities, accrued income taxes and dividends payable (refer to Note 5), follows: At September 30, 2024 Carrying Fair Value Amount Total NAV Level 1 Level 2 Level 3 Assets Investment securities: a,b U.S. core fixed income fund $ 28 $ 28 $ 28 $ — $ — $ — Equity securities 9 9 — 9 — — Total 37 37 28 9 — — Legally restricted funds: a U.S. core fixed income fund 68 68 68 — — — Government mortgage-backed securities 52 52 — — 52 — Corporate bonds 36 36 — — 36 — Government bonds and notes 30 30 — — 30 — Money market funds 21 21 — 21 — — Asset-backed securities 14 14 — — 14 — Collateralized mortgage-backed securities 1 1 — — 1 — Total 222 222 68 21 133 — Derivatives: c Embedded derivatives in provisional sales/purchase contracts in a gross asset position 108 108 — — 108 — Copper futures and swap contracts 27 27 — 16 11 — Total 135 135 — 16 119 — Contingent consideration for the sale of the Deepwater GOM oil and gas properties a,d 4 4 — — — 4 Liabilities Derivatives: c Embedded derivatives in provisional sales/purchase contracts in a gross liability position 11 11 — — 11 — Copper forward contracts 23 23 — 14 9 — Total 34 34 — 14 20 — Long-term debt, including current portion e 9,679 9,877 — — 9,877 — At December 31, 2023 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 6 6 — 6 — — Total 33 33 27 6 — — Legally restricted funds: a U.S. core fixed income fund 65 65 65 — — — Government mortgage-backed securities 51 51 — — 51 — Government bonds and notes 37 37 — — 37 — Corporate bonds 29 29 — — 29 — Money market funds 17 17 — 17 — — Asset-backed securities 12 12 — — 12 — Collateralized mortgage-backed securities 1 1 — — 1 — Total 212 212 65 17 130 — Derivatives: c Embedded derivatives in provisional sales/purchase contracts in a gross asset position 76 76 — — 76 — Copper futures and swap contracts 4 4 — 3 1 — Total 80 80 — 3 77 — Contingent consideration for the sale of the Deepwater GOM oil and gas properties a,d 50 42 — — — 42 Liabilities Derivatives: c Embedded derivatives in provisional sales/purchase contracts in a gross liability position 23 23 — — 23 — Copper forward contracts 1 1 — 1 — — Total 24 24 — 1 23 — Long-term debt, including current portion e 9,422 9,364 — — 9,364 — a. Current portion included in other current assets and long-term portion included in other assets. b. Excludes amounts included in restricted cash and cash equivalents and other assets (which approximated fair value), primarily amounts associated with (i) PT-FI’s export proceeds ($1.0 billion at September 30, 2024, and $1.1 billion at December 31, 2023), (ii) assurance bonds to support PT-FI’s commitment for new downstream processing facilities ($0.1 billion at each of September 30, 2024, and December 31, 2023) and (iii) PT-FI’s mine closure and reclamation guarantees ($0.1 billion at each of September 30, 2024, and December 31, 2023). c. Refer to Note 5 for further discussion and balance sheet classifications. d. FCX has an overriding royalty interest payable associated with the contingent consideration for the sale of Deepwater GOM oil and gas properties which totaled $1 million at September 30, 2024, and $12 million at December 31, 2023. e. Recorded at cost except for debt assumed in acquisitions, which are recorded at fair value at the respective acquisition dates. Valuation Techniques. The U.S. core fixed income fund is valued at NAV. The fund strategy seeks total return consisting of income and capital appreciation primarily by investing in a broad range of investment-grade debt securities, including U.S. government obligations, corporate bonds, mortgage-backed securities, asset-backed securities and money market instruments. There are no restrictions on redemptions (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 and collateralized mortgage-backed securities) 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 quoted monthly LME or COMEX copper forward prices and the adjusted London gold price at each reporting date based on the month of maturity (refer to Note 5 for further discussion); however, FCX’s contracts themselves are not traded on an exchange. As a result, these derivatives are classified within Level 2 of the fair value hierarchy. FCX’s derivative financial instruments for copper futures and swap contracts and copper forward contracts that are traded on the respective exchanges are classified within Level 1 of the fair value hierarchy because they are valued using quoted monthly COMEX or LME prices at each reporting date based on the month of maturity (refer to Note 5 for further discussion). Certain of these contracts are traded on the over-the-counter market and are classified within Level 2 of the fair value hierarchy based on COMEX and LME forward prices. In December 2016, FCX’s sale of its Deepwater GOM oil and gas properties included up to $150 million in contingent consideration (to be received over time) that was recorded at the total amount under the loss recovery approach. 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. In third-quarter 2024, FCX determined that only $4 million of the remaining balance was collectible and recorded a net impairment of $32 million (consisting of a $42 million impairment to the contingent consideration receivable and an offsetting reduction of $10 million to the related overriding royalty interest payable). Long-term debt, including current portion, is primarily valued using available market quotes and, as such, is classified within Level 2 of the fair value hierarchy. The techniques described above may produce a fair value that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while FCX believes its valuation techniques are appropriate and consistent with other market participants, the use of different techniques or assumptions to determine fair value of certain financial instruments could result in a different fair value measurement at the reporting date. There have been no changes in the techniques used at September 30, 2024, as compared with those techniques used at December 31, 2023.

Contingencies and Commitments

Contingencies and Commitments	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Contingencies and Commitments	CONTINGENCIES AND COMMITMENTS Environmental Refer to Note 12 of FCX’s 2023 Form 10-K for further discussion of FCX’s environmental obligations. FCX recorded net charges for adjustments to environmental obligations totaling $82 million for the first nine months of 2024, primarily associated with changes in cost estimates for former processing facilities and historical smelter sites. Asset Retirement Obligations Refer to Note 12 of FCX’s 2023 Form 10-K for further discussion of FCX’s asset retirement obligations (AROs). Mining Operations. FCX recorded net ARO additions at mining operations totaling $275 million for the first nine months of 2024, primarily associated with revised closure plans and cost estimates to reflect FCX’s commitment to the Global Industry Standard on Tailings Management (Tailings Standard). FCX may record additional ARO adjustments as it continues to update estimates to conform with the Tailings Standard. Oil and Gas Properties. Freeport-McMoRan Oil & Gas (FM O&G) recorded net ARO additions totaling $115 million for the first nine months of 2024, of which $99 million was associated with assumed oil and gas abandonment obligations resulting from bankruptcies of other companies that was charged to production and delivery costs. FM O&G, as a predecessor-in-interest in oil and natural gas leases, is in the chain of title with unrelated third parties either directly or by virtue of divestiture of certain oil and natural gas assets previously owned and assigned by its subsidiaries. Certain counterparties in these divestiture transactions or third parties in existing leases have filed for bankruptcy protection or undergone associated reorganizations and have not performed the required abandonment obligations. Accordingly, regulations or federal laws require that other working interest owners, including FM O&G, assume such obligations. Litigation There were no significant updates to previously reported legal proceedings included in Note 12 of FCX’s 2023 Form 10-K, other than the matter discussed below. 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 6 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 sulfur mining and production operations in coastal Louisiana contaminated and damaged coastal wetlands and caused significant land loss along the Louisiana coast. The settlement agreement to resolve these cases was fully executed in fourth-quarter 2022 but there was a delay in finalizing it as a result of a lawsuit challenging the settlement brought in first-quarter 2023 by a non-plaintiff coastal parish included in the settlement (Terrebonne Parish) titled Terrebonne Parish Consolidated Government v. Louisiana Department of Natural Resources et al. , Docket No. 185576, 32nd Judicial District Court, Terrebonne Parish, State of Louisiana. During first-quarter 2024, Terrebonne Parish agreed to dismiss its lawsuit and FCX made the $15 million settlement payment in trust (which was accrued for in 2019) in accordance with the terms of the settlement agreement. Indonesia Regulatory Matters Refer to Notes 12, 13 and 14 of FCX’s 2023 Form 10-K for further discussion of Indonesia regulatory matters. Export Licenses. On July 2, 2024, PT-FI was granted copper concentrate and anode slimes export licenses, which are valid through December 2024. Pursuant to the Indonesia regulations, PT-FI is continuing to pay a 7.5% export duty on copper concentrates. See below for further discussion of the recent fire event at PT-FI's new smelter facility. Special Mining Business License (IUPK). Pursuant to regulations issued during 2024, PT-FI is eligible to apply for an extension of its mining rights beyond 2041, provided certain conditions are met, including ownership of integrated downstream facilities that have entered the operational stage; domestic ownership of at least 51% and agreement with a state-owned enterprise for an additional 10% ownership; and commitments for additional exploration and increases in refining capacity, each as approved by the Ministry of Energy and Minerals. Application for extension may be submitted at any time up to one year prior to the expiration of its current IUPK. PT-FI is currently preparing its application submittal. In connection with PT-FI’s application for extension, FCX is working to reach terms with MIND ID on a purchase and sale agreement for the transfer in 2041 of an additional 10% interest in PT-FI. PT-FI’s New Downstream Processing Facilities Fire Incident On October 14, 2024, a fire occurred during commissioning of PT-FI’s new smelter in Gresik, Indonesia, following an equipment malfunction in the smelter furnace. The fire resulted in damage to a gas cleaning facility (electrostatic precipitator plant) and infrastructure for the production of sulfuric acid. There were no injuries. Smelter start-up operations have been temporarily suspended pending remediation activities. Mining operations in Central Papua and the completion and ramp-up of the PMR project have not been impacted. PT-FI has substantially completed initial damage assessments and currently estimates repair costs to approximate $100 million, which are expected to be offset through recovery under construction insurance programs. Remediation plans are in progress, including the procurement of long-lead items. Based on current delivery timelines, which continue to be evaluated, PT-FI currently expects to recommence start-up operations by mid-2025. Efforts are under way to expedite equipment orders to potentially improve the schedule. PT-FI is working with the Indonesia government to allow continued exports of copper concentrates until full ramp-up is achieved, including seeking an increase to the permitted quota for 2024. Tax Matters Cerro Verde Royalty Dispute. As disclosed in Note 12 of FCX’s 2023 Form 10-K, in 2020, FCX filed on its own behalf and on behalf of Cerro Verde, international arbitration proceedings against the Peruvian government under the United States-Peru Trade Promotion Agreement relating to the assessment of mining royalties on ore processed by the Cerro Verde concentrator for the period from December 2006 to December 2013. In May 2024, the arbitration tribunal rejected FCX and Cerro Verde's claims on the merits. The decision by the arbitration tribunal had no impact on FCX’s consolidated financial statements. Refer to Note 3 for discussion of the reduction in unrecognized tax benefits related to Cerro Verde tax matters.

Business Segments

Business Segments	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Business Segments	BUSINESS SEGMENTS FCX has organized its mining operations into four primary divisions – North America copper mines, South America operations, Indonesia operations 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 and Cerro Verde copper mines, the Indonesia operations (including the Grasberg minerals district and PT-FI’s new downstream processing facilities), the Rod & Refining operations and Atlantic Copper Smelting & Refining. For comparative purposes, the 2023 tables have been adjusted to conform with the current year presentation, primarily for the combination of the Grasberg minerals district and PT-FI’s new downstream processing facilities. PT FI’s new downstream processing facilities will exclusively receive concentrate from the Grasberg minerals district, which reflects PT-FI’s integrated and dependent operations within Indonesia ( i.e. , Indonesia operations). The PMR will receive anode slimes from the smelter and from PT Smelting. FCX's Chief Executive Officer, identified as its chief operating decision maker under business segment accounting guidance, makes executive management decisions, including resource allocation and mine planning, for the Indonesia operations as a single business segment. 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, the timing of sales to unaffiliated customers and transportation premiums. FCX defers recognizing profits on intercompany sales to Atlantic Copper 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, some selling, general and administrative costs are not allocated to the operating divisions or individual segments. Accordingly, the following segment information reflects management determinations that may not be indicative of what the actual financial performance of each operating division or segment would be if it was an independent entity. Product Revenues. FCX’s revenues attributable to the products it sold for the third quarter and first nine months of 2024 and 2023 follow: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Copper: Cathode $ 2,070 $ 1,731 $ 6,248 $ 4,912 Concentrate 1,786 1,965 5,199 5,241 Rod and other refined copper products 1,012 992 2,939 2,797 Purchased copper a 154 71 620 347 Gold 1,394 854 3,497 2,384 Molybdenum 454 479 1,351 1,562 Silver and other 169 136 457 439 Adjustments to revenues: Royalty expense b (131) (80) (344) (234) Treatment charges (99) (151) (318) (394) PT-FI export duties c (129) (133) (360) (147) d Revenues from contracts with customers 6,680 5,864 19,289 16,907 Embedded derivatives e 110 (40) 446 43 Total consolidated revenues $ 6,790 $ 5,824 $ 19,735 $ 16,950 a. FCX purchases copper cathode primarily for processing by its Rod & Refining operations. b. Reflects royalties on sales from PT-FI and Cerro Verde that will vary with the volume of metal sold and prices. c. Export duties of 2.5% were eliminated effective March 29, 2023, upon verification that construction progress of the new smelter exceeded 50% and were reinstated at a rate of 7.5% in July 2023 under a revised regulation. As discussed in Note 7, PT-FI is continuing to pay export duties of 7.5% on copper concentrates. d. Includes credits totaling $18 million associated with adjustments to prior-period export duties. e. Refer to Note 5 for discussion of embedded derivatives related to FCX’s provisionally priced copper concentrate and cathode sales contracts. Financial Information by Business Segment Atlantic Corporate, North America Copper Mines South America Operations Copper Other Cerro Indonesia Molybdenum Rod & Smelting & Elimi- FCX Morenci Other Total Verde Other Total Operations Mines Refining & Refining nations Total Three Months Ended September 30, 2024 Revenues: Unaffiliated customers $ 40 $ 12 $ 52 $ 886 $ 237 $ 1,123 $ 2,856 $ — $ 1,560 $ 759 $ 440 a $ 6,790 Intersegment 553 986 1,539 193 — 193 126 132 11 6 (2,007) — Production and delivery 492 811 1,303 630 b 187 817 918 140 1,562 754 (1,417) 4,077 Depreciation, depletion and amortization (DD&A) 47 62 109 92 18 110 340 19 2 6 14 600 Selling, general and administrative expenses — 1 1 2 — 2 32 — — 6 76 117 Exploration and research expenses 4 4 8 3 (1) 2 2 — — — 26 38 Environmental obligations and shutdown costs — — — — — — — — — — 20 20 Operating income (loss) 50 120 170 352 33 385 1,690 (27) 7 (1) (286) 1,938 Interest expense, net — — — 6 — 6 10 — — 10 46 c 72 Other (expense) income, net (1) 10 9 22 (2) 20 42 — (1) (7) 34 97 Provision for (benefit from) income taxes — — — 148 10 158 625 — — 1 (47) 737 Equity in affiliated companies’ net earnings — — — — — — 6 — — — 4 10 Net income (loss) attributable to noncontrolling interests — — — 114 d 12 126 601 e — — — (17) 710 Total assets at September 30, 2024 3,172 6,647 9,819 8,276 2,013 10,289 27,474 1,955 294 1,491 4,078 55,400 Capital expenditures 48 215 263 82 18 100 713 25 7 28 63 1,199 Three Months Ended September 30, 2023 Revenues: Unaffiliated customers $ 17 $ 22 $ 39 $ 822 $ 203 $ 1,025 $ 2,030 $ — $ 1,566 $ 692 $ 472 a $ 5,824 Intersegment 624 994 1,618 219 — 219 65 147 12 8 (2,069) — Production and delivery 480 799 1,279 649 178 827 672 120 1,566 680 (1,591) 3,553 DD&A 47 63 110 94 17 111 271 14 2 7 18 533 Selling, general and administrative expenses — 1 1 3 — 3 32 — — 6 76 118 Exploration and research expenses 2 4 6 2 — 2 — — — — 22 30 Environmental obligations and shutdown costs — 4 4 — — — — — — — 94 98 Operating income (loss) 112 145 257 293 8 301 1,120 13 10 7 (216) 1,492 Interest expense, net — 1 1 (10) f — (10) 9 — — 8 88 96 Net gain on early extinguishment of debt — — — — — — — — — — 5 5 Other (expense) income, net (2) (9) (11) (9) 13 4 30 — — 5 43 71 Provision for (benefit from) income taxes — — — 119 12 131 419 — — — (42) 508 Equity in affiliated companies’ net (losses) earnings — — — — — — (2) — — — 2 — Net income attributable to noncontrolling interests — — — 84 d 14 98 392 e — — — 20 510 Total assets at September 30, 2023 3,171 5,799 8,970 8,227 1,893 10,120 24,438 1,747 288 1,176 4,909 51,648 Capital expenditures 53 114 167 61 15 76 854 21 2 20 38 1,178 Financial Information by Business Segment (continued) Atlantic Corporate, North America Copper Mines South America Operations Copper Other Cerro Indonesia Molybdenum Rod & Smelting & Elimi- FCX Morenci Other Total Verde Other Total Operations Mines Refining & Refining nations Total Nine Months Ended September 30, 2024 Revenues: Unaffiliated customers $ 90 $ 62 $ 152 $ 2,787 $ 699 $ 3,486 $ 7,689 $ — $ 4,742 $ 2,330 $ 1,336 a $ 19,735 Intersegment 1,680 2,797 4,477 477 — 477 386 415 32 8 (5,795) — Production and delivery 1,389 2,289 3,678 1,912 b 538 2,450 2,451 393 4,741 2,263 (4,180) 11,796 DD&A 140 187 327 281 51 332 923 51 4 20 47 1,704 Selling, general and administrative expenses 1 2 3 6 — 6 93 — — 21 261 384 Exploration and research expenses 13 21 34 9 2 11 8 — — — 62 115 Environmental obligations and shutdown costs — — — — — — — — — — 115 115 Operating income (loss) 227 360 587 1,056 108 1,164 4,600 (29) 29 34 (764) 5,621 Interest expense, net — 1 1 16 — 16 17 — — 28 187 c 249 Other (expense) income, net (1) 9 8 38 11 49 110 — (1) 1 128 295 Provision for (benefit from) income taxes — — — 430 45 475 1,524 g — — (11) 15 2,003 Equity in affiliated companies’ net earnings — — — — — — 7 — — — 7 14 Net income attributable to noncontrolling interests — — — 332 d 48 380 1,664 e — — — 19 2,063 Capital expenditures 139 604 743 209 63 272 2,203 88 23 88 152 3,569 Nine Months Ended September 30, 2023 Revenues: Unaffiliated customers $ 75 $ 133 $ 208 $ 2,563 $ 627 $ 3,190 $ 5,268 $ — $ 4,552 $ 2,185 $ 1,547 a $ 16,950 Intersegment 1,787 2,922 4,709 638 — 638 432 520 28 19 (6,346) — Production and delivery 1,284 2,324 3,608 1,878 539 2,417 1,871 h 321 4,558 2,139 (4,647) 10,267 DD&A 132 180 312 302 48 350 694 48 4 21 50 1,479 Selling, general and administrative expenses 1 2 3 7 — 7 90 — — 21 238 359 Exploration and research expenses 8 35 43 6 2 8 — — — — 52 103 Environmental obligations and shutdown costs — 26 26 — — — — — — — 213 239 Operating income (loss) 437 488 925 1,008 38 1,046 3,045 151 18 23 (705) 4,503 Interest expense, net — 1 1 74 f — 74 28 — — 22 293 418 Net gain on early extinguishment of debt — — — — — — — — — — 10 10 Other (expense) income, net (4) (8) (12) (36) 11 (25) 90 (1) (1) — 132 183 Provision for (benefit from) income taxes — — — 419 19 438 1,159 — — — (51) 1,546 Equity in affiliated companies’ net earnings — — — — — — 9 — — — 3 12 Net income (loss) attributable to noncontrolling interests — — — 242 d 34 276 1,031 e — — — (23) 1,284 Capital expenditures 176 369 545 179 80 259 2,467 43 9 43 96 3,462 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 copper mines and South America operations. b. Includes nonrecurring labor-related charges totaling $34 million in third-quarter 2024 and $99 million for the first nine months of 2024 associated with Cerro Verde’s new collective labor agreements with its two unions. c. The third quarter and first nine months of 2024 include an $11 million credit associated with the closure of FCX’s 2017 and 2018 U.S. federal income tax exams. d. Beginning in September 2024, FCX's interest in Cerro Verde is 55.08%, and prior to September 2024 was 53.56%. e. Refer to Note 1 for further discussion of the attribution of PT-FI’s net income or loss. f. The third quarter and first nine months of 2023 include a $13 million credit for the settlement of interest on Cerro Verde’s historical profit sharing liability. The first nine months of 2023 also includes $74 million of interest charges associated with contested tax rulings issued by the Peruvian Supreme Court. g. Includes a net benefit to income taxes totaling $182 million associated with the closure of PT-FI’s 2021 corporate income tax audit and resolution of the framework for Indonesia disputed tax matters. h. Includes a $55 million charge for a potential administrative fine. Refer to Note 12 of FCX’s 2023 Form 10-K for further discussion.

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Reconciliations of net income and weighted-average shares of common stock outstanding for purposes of calculating basic and diluted net income per share follow: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Net income $ 1,236 $ 964 $ 3,678 $ 2,744 Net income attributable to noncontrolling interests (710) (510) (2,063) (1,284) Undistributed dividends and earnings allocated to participating securities (6) (5) (6) (5) Net income attributable to common stockholders $ 520 $ 449 $ 1,609 $ 1,455 Basic weighted-average shares of common stock outstanding 1,438 1,435 1,438 1,434 Add shares issuable upon exercise or vesting of dilutive stock options and restricted stock units 6 8 7 9 Diluted weighted-average shares of common stock outstanding 1,444 1,443 1,445 1,443 Net income per share attributable to common stockholders: Basic $ 0.36 $ 0.31 $ 1.12 $ 1.01 Diluted $ 0.36 $ 0.31 $ 1.11 $ 1.01

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	Geographic sources of FCX’s benefit (provision) for income taxes follow: Nine Months Ended September 30, 2024 2023 U.S. $ 30 $ 3 International (2,033) (1,549) Total $ (2,003) $ (1,546)

Debt and Equity (Tables)

Debt and Equity (Tables)	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Debt	The components of debt follow: September 30, December 31, 2023 PT-FI revolving credit facility $ 250 $ — Senior notes and debentures: Issued by FCX 6,010 6,005 Issued by PT-FI 2,982 2,980 Issued by Freeport Minerals Corporation 353 354 Other 84 83 Total debt 9,679 9,422 Less current portion of debt (769) (766) Long-term debt $ 8,910 $ 8,656

Financial Instruments (Tables)

Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments, Gain (Loss)	A summary of realized and unrealized gains (losses) recognized in revenues for derivative financial instruments related to commodity contracts that are designated and qualify as fair value hedge transactions, including on the related hedged item follows: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Copper futures and swap contracts: Unrealized gains (losses): Derivative financial instruments $ 12 $ 2 $ 22 $ (9) Hedged item – firm sales commitments (12) (2) (22) 9 Realized (losses) gains: Matured derivative financial instruments — (4) 29 (1)
Schedule of Derivative Instruments	A summary of FCX’s embedded derivatives at September 30, 2024, follows: Open Positions Average Price Maturities Through Contract Market Embedded derivatives in provisional sales contracts: Copper (millions of pounds) 327 $ 4.23 $ 4.43 February 2025 Gold (thousands of ounces) 218 2,492 2,654 December 2024 Embedded derivatives in provisional purchase contracts: Copper (millions of pounds) 26 4.29 4.42 December 2024
Schedule of Derivative Instruments Included in Trading Activities	A summary of realized and unrealized gains (losses) recognized in operating income for commodity contracts that do not qualify as hedge transactions, including embedded derivatives, follows: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Embedded derivatives in provisional sales contracts: a Copper $ 29 $ (30) $ 276 $ 31 Gold and other metals 81 (10) 170 12 Copper forward contracts b (19) (1) (45) (3) a. Amounts recorded in revenues. b. Amounts recorded in cost of sales as production and delivery costs.
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	A summary of the fair values of unsettled commodity derivative financial instruments follows: September 30, December 31, 2023 Commodity Derivative Assets: Derivatives designated as hedging instruments : Copper futures and swap contracts $ 27 $ 4 Derivatives not designated as hedging instruments : Embedded derivatives in provisional sales/purchase contracts 108 76 Total derivative assets $ 135 $ 80 Commodity Derivative Liabilities: Derivatives not designated as hedging instruments : Embedded derivatives in provisional sales/purchase contracts 11 23 Copper forward contracts 23 1 Total derivative liabilities $ 34 $ 24
Offsetting Assets	A summary of these net unsettled commodity contracts in the balance sheet follows: Assets Liabilities September 30, December 31, 2023 September 30, December 31, 2023 Gross amounts recognized: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts $ 108 $ 76 $ 11 $ 23 Copper derivatives 27 4 23 1 135 80 34 24 Less gross amounts of offset: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts 3 — 3 — 3 — 3 — Net amounts presented in balance sheet: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts 105 76 8 23 Copper derivatives 27 4 23 1 $ 132 $ 80 $ 31 $ 24 Balance sheet classification: Trade accounts receivable $ 101 $ 76 $ 4 $ 2 Other current assets 26 4 — — Accounts payable and accrued liabilities 5 — 27 22 $ 132 $ 80 $ 31 $ 24
Offsetting Liabilities	A summary of these net unsettled commodity contracts in the balance sheet follows: Assets Liabilities September 30, December 31, 2023 September 30, December 31, 2023 Gross amounts recognized: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts $ 108 $ 76 $ 11 $ 23 Copper derivatives 27 4 23 1 135 80 34 24 Less gross amounts of offset: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts 3 — 3 — 3 — 3 — Net amounts presented in balance sheet: Commodity contracts: Embedded derivatives in provisional sales/purchase contracts 105 76 8 23 Copper derivatives 27 4 23 1 $ 132 $ 80 $ 31 $ 24 Balance sheet classification: Trade accounts receivable $ 101 $ 76 $ 4 $ 2 Other current assets 26 4 — — Accounts payable and accrued liabilities 5 — 27 22 $ 132 $ 80 $ 31 $ 24
Schedule of Cash Flow, Supplemental Disclosures	The following table provides a reconciliation of total cash and cash equivalents and restricted cash and cash equivalents presented in the consolidated statements of cash flows: September 30, December 31, 2023 Balance sheet components: Cash and cash equivalents a $ 5,000 $ 4,758 Restricted cash and cash equivalents, current b 1,117 1,208 Restricted cash and cash equivalents, long-term - included in other assets 99 97 Total cash and cash equivalents and restricted cash and cash equivalents presented in the consolidated statements of cash flows $ 6,216 $ 6,063 a. Includes (i) time deposits of $0.1 billion at September 30, 2024, and $0.3 billion at December 31, 2023, and (ii) cash designated for PT-FI’s new downstream processing facilities totaling $0.2 billion at December 31, 2023. b.

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurement Inputs Disclosure	A summary of the carrying amount and fair value of FCX’s financial instruments (including those measured at net asset value (NAV) as a practical expedient), other than cash and cash equivalents, restricted cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities, accrued income taxes and dividends payable (refer to Note 5), follows: At September 30, 2024 Carrying Fair Value Amount Total NAV Level 1 Level 2 Level 3 Assets Investment securities: a,b U.S. core fixed income fund $ 28 $ 28 $ 28 $ — $ — $ — Equity securities 9 9 — 9 — — Total 37 37 28 9 — — Legally restricted funds: a U.S. core fixed income fund 68 68 68 — — — Government mortgage-backed securities 52 52 — — 52 — Corporate bonds 36 36 — — 36 — Government bonds and notes 30 30 — — 30 — Money market funds 21 21 — 21 — — Asset-backed securities 14 14 — — 14 — Collateralized mortgage-backed securities 1 1 — — 1 — Total 222 222 68 21 133 — Derivatives: c Embedded derivatives in provisional sales/purchase contracts in a gross asset position 108 108 — — 108 — Copper futures and swap contracts 27 27 — 16 11 — Total 135 135 — 16 119 — Contingent consideration for the sale of the Deepwater GOM oil and gas properties a,d 4 4 — — — 4 Liabilities Derivatives: c Embedded derivatives in provisional sales/purchase contracts in a gross liability position 11 11 — — 11 — Copper forward contracts 23 23 — 14 9 — Total 34 34 — 14 20 — Long-term debt, including current portion e 9,679 9,877 — — 9,877 — At December 31, 2023 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 6 6 — 6 — — Total 33 33 27 6 — — Legally restricted funds: a U.S. core fixed income fund 65 65 65 — — — Government mortgage-backed securities 51 51 — — 51 — Government bonds and notes 37 37 — — 37 — Corporate bonds 29 29 — — 29 — Money market funds 17 17 — 17 — — Asset-backed securities 12 12 — — 12 — Collateralized mortgage-backed securities 1 1 — — 1 — Total 212 212 65 17 130 — Derivatives: c Embedded derivatives in provisional sales/purchase contracts in a gross asset position 76 76 — — 76 — Copper futures and swap contracts 4 4 — 3 1 — Total 80 80 — 3 77 — Contingent consideration for the sale of the Deepwater GOM oil and gas properties a,d 50 42 — — — 42 Liabilities Derivatives: c Embedded derivatives in provisional sales/purchase contracts in a gross liability position 23 23 — — 23 — Copper forward contracts 1 1 — 1 — — Total 24 24 — 1 23 — Long-term debt, including current portion e 9,422 9,364 — — 9,364 — a. Current portion included in other current assets and long-term portion included in other assets. b. Excludes amounts included in restricted cash and cash equivalents and other assets (which approximated fair value), primarily amounts associated with (i) PT-FI’s export proceeds ($1.0 billion at September 30, 2024, and $1.1 billion at December 31, 2023), (ii) assurance bonds to support PT-FI’s commitment for new downstream processing facilities ($0.1 billion at each of September 30, 2024, and December 31, 2023) and (iii) PT-FI’s mine closure and reclamation guarantees ($0.1 billion at each of September 30, 2024, and December 31, 2023). c. Refer to Note 5 for further discussion and balance sheet classifications. d. FCX has an overriding royalty interest payable associated with the contingent consideration for the sale of Deepwater GOM oil and gas properties which totaled $1 million at September 30, 2024, and $12 million at December 31, 2023. e. Recorded at cost except for debt assumed in acquisitions, which are recorded at fair value at the respective acquisition dates.

Business Segments (Tables)

Business Segments (Tables)	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Revenue from External Customers by Products and Services	Product Revenues. FCX’s revenues attributable to the products it sold for the third quarter and first nine months of 2024 and 2023 follow: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Copper: Cathode $ 2,070 $ 1,731 $ 6,248 $ 4,912 Concentrate 1,786 1,965 5,199 5,241 Rod and other refined copper products 1,012 992 2,939 2,797 Purchased copper a 154 71 620 347 Gold 1,394 854 3,497 2,384 Molybdenum 454 479 1,351 1,562 Silver and other 169 136 457 439 Adjustments to revenues: Royalty expense b (131) (80) (344) (234) Treatment charges (99) (151) (318) (394) PT-FI export duties c (129) (133) (360) (147) d Revenues from contracts with customers 6,680 5,864 19,289 16,907 Embedded derivatives e 110 (40) 446 43 Total consolidated revenues $ 6,790 $ 5,824 $ 19,735 $ 16,950 a. FCX purchases copper cathode primarily for processing by its Rod & Refining operations. b. Reflects royalties on sales from PT-FI and Cerro Verde that will vary with the volume of metal sold and prices. c. Export duties of 2.5% were eliminated effective March 29, 2023, upon verification that construction progress of the new smelter exceeded 50% and were reinstated at a rate of 7.5% in July 2023 under a revised regulation. As discussed in Note 7, PT-FI is continuing to pay export duties of 7.5% on copper concentrates. d. Includes credits totaling $18 million associated with adjustments to prior-period export duties. e. Refer to Note 5 for discussion of embedded derivatives related to FCX’s provisionally priced copper concentrate and cathode sales contracts.
Schedule of Segment Reporting Information, by Segment	Financial Information by Business Segment Atlantic Corporate, North America Copper Mines South America Operations Copper Other Cerro Indonesia Molybdenum Rod & Smelting & Elimi- FCX Morenci Other Total Verde Other Total Operations Mines Refining & Refining nations Total Three Months Ended September 30, 2024 Revenues: Unaffiliated customers $ 40 $ 12 $ 52 $ 886 $ 237 $ 1,123 $ 2,856 $ — $ 1,560 $ 759 $ 440 a $ 6,790 Intersegment 553 986 1,539 193 — 193 126 132 11 6 (2,007) — Production and delivery 492 811 1,303 630 b 187 817 918 140 1,562 754 (1,417) 4,077 Depreciation, depletion and amortization (DD&A) 47 62 109 92 18 110 340 19 2 6 14 600 Selling, general and administrative expenses — 1 1 2 — 2 32 — — 6 76 117 Exploration and research expenses 4 4 8 3 (1) 2 2 — — — 26 38 Environmental obligations and shutdown costs — — — — — — — — — — 20 20 Operating income (loss) 50 120 170 352 33 385 1,690 (27) 7 (1) (286) 1,938 Interest expense, net — — — 6 — 6 10 — — 10 46 c 72 Other (expense) income, net (1) 10 9 22 (2) 20 42 — (1) (7) 34 97 Provision for (benefit from) income taxes — — — 148 10 158 625 — — 1 (47) 737 Equity in affiliated companies’ net earnings — — — — — — 6 — — — 4 10 Net income (loss) attributable to noncontrolling interests — — — 114 d 12 126 601 e — — — (17) 710 Total assets at September 30, 2024 3,172 6,647 9,819 8,276 2,013 10,289 27,474 1,955 294 1,491 4,078 55,400 Capital expenditures 48 215 263 82 18 100 713 25 7 28 63 1,199 Three Months Ended September 30, 2023 Revenues: Unaffiliated customers $ 17 $ 22 $ 39 $ 822 $ 203 $ 1,025 $ 2,030 $ — $ 1,566 $ 692 $ 472 a $ 5,824 Intersegment 624 994 1,618 219 — 219 65 147 12 8 (2,069) — Production and delivery 480 799 1,279 649 178 827 672 120 1,566 680 (1,591) 3,553 DD&A 47 63 110 94 17 111 271 14 2 7 18 533 Selling, general and administrative expenses — 1 1 3 — 3 32 — — 6 76 118 Exploration and research expenses 2 4 6 2 — 2 — — — — 22 30 Environmental obligations and shutdown costs — 4 4 — — — — — — — 94 98 Operating income (loss) 112 145 257 293 8 301 1,120 13 10 7 (216) 1,492 Interest expense, net — 1 1 (10) f — (10) 9 — — 8 88 96 Net gain on early extinguishment of debt — — — — — — — — — — 5 5 Other (expense) income, net (2) (9) (11) (9) 13 4 30 — — 5 43 71 Provision for (benefit from) income taxes — — — 119 12 131 419 — — — (42) 508 Equity in affiliated companies’ net (losses) earnings — — — — — — (2) — — — 2 — Net income attributable to noncontrolling interests — — — 84 d 14 98 392 e — — — 20 510 Total assets at September 30, 2023 3,171 5,799 8,970 8,227 1,893 10,120 24,438 1,747 288 1,176 4,909 51,648 Capital expenditures 53 114 167 61 15 76 854 21 2 20 38 1,178 Financial Information by Business Segment (continued) Atlantic Corporate, North America Copper Mines South America Operations Copper Other Cerro Indonesia Molybdenum Rod & Smelting & Elimi- FCX Morenci Other Total Verde Other Total Operations Mines Refining & Refining nations Total Nine Months Ended September 30, 2024 Revenues: Unaffiliated customers $ 90 $ 62 $ 152 $ 2,787 $ 699 $ 3,486 $ 7,689 $ — $ 4,742 $ 2,330 $ 1,336 a $ 19,735 Intersegment 1,680 2,797 4,477 477 — 477 386 415 32 8 (5,795) — Production and delivery 1,389 2,289 3,678 1,912 b 538 2,450 2,451 393 4,741 2,263 (4,180) 11,796 DD&A 140 187 327 281 51 332 923 51 4 20 47 1,704 Selling, general and administrative expenses 1 2 3 6 — 6 93 — — 21 261 384 Exploration and research expenses 13 21 34 9 2 11 8 — — — 62 115 Environmental obligations and shutdown costs — — — — — — — — — — 115 115 Operating income (loss) 227 360 587 1,056 108 1,164 4,600 (29) 29 34 (764) 5,621 Interest expense, net — 1 1 16 — 16 17 — — 28 187 c 249 Other (expense) income, net (1) 9 8 38 11 49 110 — (1) 1 128 295 Provision for (benefit from) income taxes — — — 430 45 475 1,524 g — — (11) 15 2,003 Equity in affiliated companies’ net earnings — — — — — — 7 — — — 7 14 Net income attributable to noncontrolling interests — — — 332 d 48 380 1,664 e — — — 19 2,063 Capital expenditures 139 604 743 209 63 272 2,203 88 23 88 152 3,569 Nine Months Ended September 30, 2023 Revenues: Unaffiliated customers $ 75 $ 133 $ 208 $ 2,563 $ 627 $ 3,190 $ 5,268 $ — $ 4,552 $ 2,185 $ 1,547 a $ 16,950 Intersegment 1,787 2,922 4,709 638 — 638 432 520 28 19 (6,346) — Production and delivery 1,284 2,324 3,608 1,878 539 2,417 1,871 h 321 4,558 2,139 (4,647) 10,267 DD&A 132 180 312 302 48 350 694 48 4 21 50 1,479 Selling, general and administrative expenses 1 2 3 7 — 7 90 — — 21 238 359 Exploration and research expenses 8 35 43 6 2 8 — — — — 52 103 Environmental obligations and shutdown costs — 26 26 — — — — — — — 213 239 Operating income (loss) 437 488 925 1,008 38 1,046 3,045 151 18 23 (705) 4,503 Interest expense, net — 1 1 74 f — 74 28 — — 22 293 418 Net gain on early extinguishment of debt — — — — — — — — — — 10 10 Other (expense) income, net (4) (8) (12) (36) 11 (25) 90 (1) (1) — 132 183 Provision for (benefit from) income taxes — — — 419 19 438 1,159 — — — (51) 1,546 Equity in affiliated companies’ net earnings — — — — — — 9 — — — 3 12 Net income (loss) attributable to noncontrolling interests — — — 242 d 34 276 1,031 e — — — (23) 1,284 Capital expenditures 176 369 545 179 80 259 2,467 43 9 43 96 3,462

General Information - Additiona

General Information - Additional Information (Details) - USD ($) $ in Thousands, shares in Millions

1 Months Ended

3 Months Ended

6 Months Ended

9 Months Ended

Sep. 30, 2024

Sep. 30, 2024

Mar. 31, 2024

Jun. 30, 2024

Sep. 30, 2024

Sep. 30, 2023

Sep. 01, 2024

Aug. 31, 2024

Jun. 29, 2024

Dec. 31, 2023

Jan. 01, 2023

Dec. 31, 2022

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Acquisition of additional ownership interest in Cerro Verde

$ (215,000)

$ (215,000)

Deferred income taxes

36,000

$ 130,000

Portion of Gold Sales Attributable to Parent

$ 190

Noncontrolling Interests

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Acquisition of additional ownership interest in Cerro Verde

$ (90,000)

$ (90,000)

Total Stockholder's Equity

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Acquisition of additional ownership interest in Cerro Verde

$ (125,000)

$ (125,000)

Cerro Verde

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Shares purchased (in shares)

5.3

Value of shares purchased

$ 210,000

Investment owned, percent

55.08%

53.56%

Deferred income taxes

5,000

Cerro Verde | Noncontrolling Interests

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Acquisition of additional ownership interest in Cerro Verde

(90,000)

Cerro Verde | Total Stockholder's Equity

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Acquisition of additional ownership interest in Cerro Verde

$ (125,000)

PT Freeport Indonesia

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Deferred Income Tax Credits

$ 215,000

PT Freeport Indonesia | PT Smelting

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Equity method investment, percentage ownership

66%

39.50%

PT Freeport Indonesia

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Increase In Equity Method Investment

$ 254,000

Noncontrolling interest, ownership percentage by parent

81%

81%

FCX

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Noncontrolling interest, ownership percentage by parent

48.76%

PT Mineral Industri Indonesia

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Noncontrolling interest, ownership percentage by parent

26.24%

PT Indonesia Papua Metal Dan Mineral

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Noncontrolling interest, ownership percentage by parent

25%

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Net income (loss) from continuing operations	$ 1,236	$ 964	$ 3,678	$ 2,744
Net income attributable to noncontrolling interests	(710)	(510)	(2,063)	(1,284)
Undistributed dividends and earnings allocated to participating securities	(6)	(5)	(6)	(5)
Net income attributable to common stockholders	$ 520	$ 449	$ 1,609	$ 1,455
Basic weighted-average shares of common stock outstanding	1,438	1,435	1,438	1,434
Add shares issuable upon exercise or vesting of dilutive stock options and restricted stock units	6	8	7	9
Diluted weighted-average shares of common stock outstanding	1,444	1,443	1,445	1,443
Earnings per share, basic (in dollars per share)	$ 0.36	$ 0.31	$ 1.12	$ 1.01
Earnings per share, diluted (in dollars per share)	$ 0.36	$ 0.31	$ 1.11	$ 1.01
Dilutive Securities Excluded from Computation of EPS Amount	0		0

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Before Income Taxes and Equity in an Affiliated Companies' Net Earnings (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
U.S.			$ 30	$ 3
International			(2,033)	(1,549)
Total	$ (737)	$ (508)	$ (2,003)	$ (1,546)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions		1 Months Ended	3 Months Ended	9 Months Ended
	Jan. 01, 2023	May 31, 2024	Mar. 31, 2024	Sep. 30, 2024	Sep. 30, 2023
Income Tax Contingency [Line Items]
Consolidated effective income tax rate (percent)				35%	36%
Tax benefit related to closure of tax audit				$ 182
Tax benefit related to closure of federal income tax exams				$ 36
Nondeductible charges					$ 142
Unrecognized Tax Benefits, Period Increase (Decrease)		$ 269
Unrecognized Tax Benefits, Decrease In Interest And Penalties		$ 319
Corporate Alternative Minimum Tax For Corporations With Average AFSI Over $1 Billion, Rate	15%
Three Years Average AFSI Limit, Corporate Alternative Minimum Tax	$ 1,000
PT Freeport Indonesia
Income Tax Contingency [Line Items]
Deferred Income Tax Credits			$ 215
Unrecognized Tax Benefits, Period Increase (Decrease)			276
Unrecognized Tax Benefits, Decrease In Interest And Penalties			43
Unrecognized Tax Benefits, Decrease In Contingencies			179
Unrecognized Tax Benefits, Decrease In Contingencies, Penalties And Interest			35
PT Freeport Indonesia | Income Expense (Benefit)
Income Tax Contingency [Line Items]
Deferred Income Tax Credits			199
Deferred Income Taxes			17
PT Freeport Indonesia | Direct Operating Costs
Income Tax Contingency [Line Items]
Deferred Income Tax Credits			8
PT Freeport Indonesia | Interest Income (Expense), Net
Income Tax Contingency [Line Items]
Deferred Income Tax Credits			8
PT Freeport Indonesia | Other Nonoperating Income (Expense)
Income Tax Contingency [Line Items]
Deferred Income Taxes			$ 26

Debt and Equity - Components of

Debt and Equity - Components of Debt (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long-term debt	$ 9,679	$ 9,422
Less current portion of debt	(769)	(766)
Long-term debt, less current portion	8,910	8,656
Line of Credit | PT-FI | Unsecured Credit Facility
Debt Instrument [Line Items]
Line of credit	250	0
Senior Notes | PT-FI
Debt Instrument [Line Items]
Long-term debt	2,982	2,980
Senior Notes | FCX
Debt Instrument [Line Items]
Long-term debt	6,010	6,005
Debentures | Freeport McMoRan Corporation
Debt Instrument [Line Items]
Long-term debt	353	354
Other
Debt Instrument [Line Items]
Long-term debt	$ 84	$ 83

Debt and Equity - Additional In

Debt and Equity - Additional Information (Details) - USD ($) $ / shares in Units, shares in Millions	1 Months Ended	3 Months Ended		9 Months Ended		32 Months Ended
	Jul. 31, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Jul. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Interest costs		$ 173,000,000	$ 165,000,000	$ 529,000,000	$ 606,000,000
Credit for closure of income tax exams		11,000,000		11,000,000
Interest expense, net		(72,000,000)	$ (96,000,000)	(249,000,000)	(418,000,000)
Tax Matters In Peru, Contingent Liability					$ 74,000,000
Treasury stock purchases (in shares)	1.2					49
Shares repurchased	$ 59,000,000					$ 1,900,000,000
Cost per share repurchased (in dollars per share)	$ 50.48					$ 38.64
Stock repurchase program, authorized amount		$ 5,000,000,000		$ 5,000,000,000
Dividends declared per share of common stock (in dollars per share)		$ 0.15	$ 0.15	$ 0.45	$ 0.45
Base cash dividend (in dollars per share)		0.075
Variable cash dividend (in dollars per share)		$ 0.075
Cerro Verde | Cerro Verde
Debt Instrument [Line Items]
Interest expense, net			$ 13,000,000		$ 13,000,000
Unsecured Credit Facility | PT-FI
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		$ 1,750,000,000		$ 1,750,000,000
Unsecured Credit Facility | Cerro Verde
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		350,000,000		350,000,000
Line of credit		0		0
Property, Plant and Equipment
Debt Instrument [Line Items]
Interest costs capitalized		101,000,000	$ 69,000,000	280,000,000	$ 188,000,000
Line of Credit | Revolving Credit Facility | October 2022 Unsecured Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		3,000,000,000		3,000,000,000
Line of credit		0		0
Line of Credit | Revolving Credit Facility | PT-FI | October 2022 Unsecured Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		500,000,000		500,000,000
Line of Credit | Letter of Credit
Debt Instrument [Line Items]
Revolving credit facility, availability		1,500,000,000		1,500,000,000
Line of credit		7,000,000		7,000,000
Line of Credit | Unsecured Credit Facility | PT-FI
Debt Instrument [Line Items]
Line of credit		$ 250,000,000		$ 250,000,000			$ 0

Financial Instruments - Unreali

Financial Instruments - Unrealized gains losses (Details) oz in Thousands, lb in Millions, $ in Millions		3 Months Ended		9 Months Ended
	Jun. 30, 2023 oz lb	Sep. 30, 2024 USD ($) $ / lb $ / oz $ / lb	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) lb $ / lb $ / oz $ / lb	Sep. 30, 2023 USD ($)
Commodity Contract
Unrealized gains (losses):
Derivative financial instruments		$ 12	$ 2	$ 22	$ (9)
Hedged item – firm sales commitments		(12)	(2)	(22)	9
Realized gains (losses):
Matured derivative financial instruments		0	(4)	29	(1)
Matured derivative financial instruments		$ 0	(4)	$ 29	(1)
Commodity Contract | Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Nonmonetary Notional Amount, Mass | lb				101
Derivative, Average Forward Price | $ / lb		4.30		4.30
Forward Contracts | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Nonmonetary Notional Amount, Mass | lb				112
Derivative, Average Forward Price | $ / lb		4.22		4.22
Realized gains (losses):
Matured derivative financial instruments		$ (19)	(1)	$ (45)	(3)
Matured derivative financial instruments		(19)	(1)	(45)	(3)
Copper | Not Designated as Hedging Instrument
Realized gains (losses):
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net		$ 29	(30)	$ 276	31
Copper | Short [Member] | Embedded Derivative Financial Instruments | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Nonmonetary Notional Amount, Mass | lb	327
Derivative, Average Forward Price | $ / lb		4.23		4.23
Realized gains (losses):
Derivative Average Market Price | $ / lb		4.43		4.43
Copper | Long [Member] | Embedded Derivative Financial Instruments | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Nonmonetary Notional Amount, Mass | lb	26
Derivative, Average Forward Price | $ / lb		4.29		4.29
Realized gains (losses):
Derivative Average Market Price | $ / lb		4.42		4.42
Gold | Short [Member] | Embedded Derivative Financial Instruments | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Nonmonetary Notional Amount, Mass | oz	218
Derivative, Average Forward Price | $ / oz		2,492		2,492
Realized gains (losses):
Derivative Average Market Price | $ / oz		2,654		2,654
gold and other | Not Designated as Hedging Instrument
Realized gains (losses):
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net		$ 81	$ (10)	$ 170	$ 12

Financial Instruments - Unsettl

Financial Instruments - Unsettled Derivatives (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 135	$ 80
Derivative Liability, Fair Value, Gross Liability	34	24
Derivative Asset, Fair Value, Gross Liability	3	0
Derivative Liability, Fair Value, Gross Asset	3	0
Derivative Asset	132	80
Derivative Liability	31	24
Trade accounts receivable
Derivatives, Fair Value [Line Items]
Derivative Asset	101	76
Derivative Liability	4	2
Other current assets
Derivatives, Fair Value [Line Items]
Derivative Asset	26	4
Derivative Liability	0	0
Accounts payable and accrued liabilities
Derivatives, Fair Value [Line Items]
Derivative Asset	5	0
Derivative Liability	27	22
Commodity Contract
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	27	4
Derivative Liability, Fair Value, Gross Liability	23	1
Derivative Asset	27	4
Derivative Liability	23	1
Embedded Derivative Financial Instruments
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	108	76
Derivative Liability, Fair Value, Gross Liability	11	23
Derivative Asset, Fair Value, Gross Liability	3	0
Derivative Liability, Fair Value, Gross Asset	3	0
Derivative Asset	105	76
Derivative Liability	8	23
Designated as Hedging Instrument | Commodity Contract
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	27	4
Not Designated as Hedging Instrument | Embedded Derivative Financial Instruments
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	108	76
Derivative Liability, Fair Value, Gross Liability	11	23
Commodity Contract | Not Designated as Hedging Instrument | Forward Contracts
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability	$ 23	$ 1

Financial Instruments - Derivat

Financial Instruments - Derivative (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Cash and Cash Equivalents [Line Items]
Credit Derivative, Maximum Exposure, Undiscounted		$ 135
Cash and cash equivalents		5,000	$ 4,758
Restricted cash and cash equivalents		1,117	1,208
Restricted Cash and Cash Equivalents, Noncurrent		99	97
Total cash and cash equivalents and restricted cash and cash equivalents presented in the consolidated statements of cash flows		6,216	6,063	$ 6,539	$ 8,390
Export Proceeds, Percent	30%
Bank Time Deposits
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents		100	300
Designated for Smelter Development Projects
Cash and Cash Equivalents [Line Items]
Total cash and cash equivalents and restricted cash and cash equivalents presented in the consolidated statements of cash flows			200
Designated For Export Proceeds
Cash and Cash Equivalents [Line Items]
Restricted cash and cash equivalents		1,000	1,100
Assurance Bonds
Cash and Cash Equivalents [Line Items]
Restricted cash and cash equivalents		$ 100	$ 100

Fair Value Measurement - Fair V

Fair Value Measurement - Fair Value Measurement Inputs (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2024	Dec. 31, 2023	Dec. 31, 2016
Investment securities (current and long-term):
Other assets	$ 1,848	$ 1,810
Other Assets, Current	436	375
Derivatives:
Derivative Asset	132	80
Derivatives: [Abstract]
Derivative Liability	31	24
Restricted cash and cash equivalents	1,117	1,208
Designated For Export Proceeds
Derivatives: [Abstract]
Restricted cash and cash equivalents	1,000	1,100
Deepwater Gulf of Mexico Interests | Freeport-McMoRan Oil & Gas
Derivatives:
Discontinued Operation, Contingent Receivable	4		$ 150
Derivatives: [Abstract]
Royalty interest payable	1	12
Net impairment	32
Contingent consideration impairment loss	42
Decrease to royalty interest payable	10
Fair Value Measured at Net Asset Value Per Share
Investment securities (current and long-term):
Investments, Fair Value Disclosure	28	27
Trust Assets Fair Value Disclosure	68	65
Derivatives:
Derivative Asset	0	0
Discontinued Operation, Contingent Receivable	0	0
Derivatives: [Abstract]
Derivative Liability	0	0
Long-term debt, including current portion	0	0
Level 1
Investment securities (current and long-term):
Investments, Fair Value Disclosure	9	6
Trust Assets Fair Value Disclosure	21	17
Derivatives:
Derivative Asset	16	3
Discontinued Operation, Contingent Receivable	0	0
Derivatives: [Abstract]
Derivative Liability	14	1
Long-term debt, including current portion	0	0
Level 2
Investment securities (current and long-term):
Investments, Fair Value Disclosure	0	0
Trust Assets Fair Value Disclosure	133	130
Derivatives:
Derivative Asset	119	77
Discontinued Operation, Contingent Receivable	0	0
Derivatives: [Abstract]
Derivative Liability	20	23
Long-term debt, including current portion	9,877	9,364
Level 3
Investment securities (current and long-term):
Investments, Fair Value Disclosure	0	0
Trust Assets Fair Value Disclosure	0	0
Derivatives:
Derivative Asset	0	0
Discontinued Operation, Contingent Receivable	4	42
Derivatives: [Abstract]
Derivative Liability	0	0
Long-term debt, including current portion	0	0
Estimate of Fair Value Measurement
Investment securities (current and long-term):
Investments, Fair Value Disclosure	37	33
Trust Assets Fair Value Disclosure	222	212
Derivatives:
Derivative Asset	135	80
Discontinued Operation, Contingent Receivable	4	42
Derivatives: [Abstract]
Derivative Liability	34	24
Long-term debt, including current portion	9,877	9,364
Carrying Amount, Fair Value Disclosure
Investment securities (current and long-term):
Investments, Fair Value Disclosure	37	33
Trust Assets Fair Value Disclosure	222	212
Derivatives:
Derivative Asset	135	80
Discontinued Operation, Contingent Receivable	4	50
Derivatives: [Abstract]
Derivative Liability	34	24
Long-term debt, including current portion	9,679	9,422
Embedded Derivative Financial Instruments
Derivatives:
Derivative Asset	105	76
Derivatives: [Abstract]
Derivative Liability	8	23
Embedded Derivative Financial Instruments | Fair Value Measured at Net Asset Value Per Share
Derivatives:
Derivative Asset	0	0
Derivatives: [Abstract]
Derivative Liability	0	0
Embedded Derivative Financial Instruments | Level 1
Derivatives:
Derivative Asset	0	0
Derivatives: [Abstract]
Derivative Liability	0	0
Embedded Derivative Financial Instruments | Level 2
Derivatives:
Derivative Asset	108	76
Derivatives: [Abstract]
Derivative Liability	11	23
Embedded Derivative Financial Instruments | Level 3
Derivatives:
Derivative Asset	0	0
Derivatives: [Abstract]
Derivative Liability	0	0
Embedded Derivative Financial Instruments | Estimate of Fair Value Measurement
Derivatives:
Derivative Asset	108	76
Derivatives: [Abstract]
Derivative Liability	11	23
Embedded Derivative Financial Instruments | Carrying Amount, Fair Value Disclosure
Derivatives:
Derivative Asset	108	76
Derivatives: [Abstract]
Derivative Liability	11	23
Commodity Contract
Derivatives:
Derivative Asset	27	4
Derivatives: [Abstract]
Derivative Liability	23	1
Commodity Contract | Fair Value Measured at Net Asset Value Per Share | Futures and Swaps
Derivatives:
Derivative Asset	0	0
Commodity Contract | Fair Value Measured at Net Asset Value Per Share | Forward Contracts
Derivatives: [Abstract]
Derivative Liability	0	0
Commodity Contract | Level 1 | Futures and Swaps
Derivatives:
Derivative Asset	16	3
Commodity Contract | Level 1 | Forward Contracts
Derivatives: [Abstract]
Derivative Liability	14	1
Commodity Contract | Level 2 | Futures and Swaps
Derivatives:
Derivative Asset	11	1
Commodity Contract | Level 2 | Forward Contracts
Derivatives: [Abstract]
Derivative Liability	9	0
Commodity Contract | Level 3 | Futures and Swaps
Derivatives:
Derivative Asset	0	0
Commodity Contract | Level 3 | Forward Contracts
Derivatives: [Abstract]
Derivative Liability	0	0
Commodity Contract | Estimate of Fair Value Measurement | Futures and Swaps
Derivatives:
Derivative Asset	27	4
Commodity Contract | Estimate of Fair Value Measurement | Forward Contracts
Derivatives: [Abstract]
Derivative Liability	23	1
Commodity Contract | Carrying Amount, Fair Value Disclosure | Futures and Swaps
Derivatives:
Derivative Asset	27	4
Commodity Contract | Carrying Amount, Fair Value Disclosure | Forward Contracts
Derivatives: [Abstract]
Derivative Liability	23	1
U.S. core fixed income fund | Fair Value Measured at Net Asset Value Per Share
Investment securities (current and long-term):
Marketable Securities	28	27
Trust Assets Fair Value Disclosure	68	65
U.S. core fixed income fund | Level 1
Investment securities (current and long-term):
Marketable Securities	0	0
Trust Assets Fair Value Disclosure	0	0
U.S. core fixed income fund | Level 2
Investment securities (current and long-term):
Marketable Securities	0	0
Trust Assets Fair Value Disclosure	0	0
U.S. core fixed income fund | Level 3
Investment securities (current and long-term):
Marketable Securities	0	0
Trust Assets Fair Value Disclosure	0	0
U.S. core fixed income fund | Estimate of Fair Value Measurement
Investment securities (current and long-term):
Marketable Securities	28	27
Trust Assets Fair Value Disclosure	68	65
U.S. core fixed income fund | Carrying Amount, Fair Value Disclosure
Investment securities (current and long-term):
Marketable Securities	28	27
Trust Assets Fair Value Disclosure	68	65
Equity securities | Fair Value Measured at Net Asset Value Per Share
Investment securities (current and long-term):
Marketable Securities	0	0
Equity securities | Level 1
Investment securities (current and long-term):
Marketable Securities	9	6
Equity securities | Level 2
Investment securities (current and long-term):
Marketable Securities	0	0
Equity securities | Level 3
Investment securities (current and long-term):
Marketable Securities	0	0
Equity securities | Estimate of Fair Value Measurement
Investment securities (current and long-term):
Marketable Securities	9	6
Equity securities | Carrying Amount, Fair Value Disclosure
Investment securities (current and long-term):
Marketable Securities	9	6
Government mortgage-backed securities | Fair Value Measured at Net Asset Value Per Share
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0	0
Government mortgage-backed securities | Level 1
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0	0
Government mortgage-backed securities | Level 2
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	52	51
Government mortgage-backed securities | Level 3
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0	0
Government mortgage-backed securities | Estimate of Fair Value Measurement
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	52	51
Government mortgage-backed securities | Carrying Amount, Fair Value Disclosure
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	52	51
Corporate bonds | Fair Value Measured at Net Asset Value Per Share
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0	0
Corporate bonds | Level 1
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0	0
Corporate bonds | Level 2
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	36	29
Corporate bonds | Level 3
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0	0
Corporate bonds | Estimate of Fair Value Measurement
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	36	29
Corporate bonds | Carrying Amount, Fair Value Disclosure
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	36	29
Government bonds | Fair Value Measured at Net Asset Value Per Share
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0	0
Government bonds | Level 1
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0	0
Government bonds | Level 2
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	30	37
Government bonds | Level 3
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0	0
Government bonds | Estimate of Fair Value Measurement
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	30	37
Government bonds | Carrying Amount, Fair Value Disclosure
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	30	37
Money market funds | Fair Value Measured at Net Asset Value Per Share
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0	0
Money market funds | Level 1
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	21	17
Money market funds | Level 2
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0	0
Money market funds | Level 3
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0	0
Money market funds | Estimate of Fair Value Measurement
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	21	17
Money market funds | Carrying Amount, Fair Value Disclosure
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	21	17
Asset-backed securities | Fair Value Measured at Net Asset Value Per Share
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0	0
Asset-backed securities | Level 1
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0	0
Asset-backed securities | Level 2
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	14	12
Asset-backed securities | Level 3
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0	0
Asset-backed securities | Estimate of Fair Value Measurement
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	14	12
Asset-backed securities | Carrying Amount, Fair Value Disclosure
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	14	12
Collateralized Mortgage Backed Securities | Fair Value Measured at Net Asset Value Per Share
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0	0
Collateralized Mortgage Backed Securities | Level 1
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0	0
Collateralized Mortgage Backed Securities | Level 2
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	1	1
Collateralized Mortgage Backed Securities | Level 3
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	0	0
Collateralized Mortgage Backed Securities | Estimate of Fair Value Measurement
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	1	1
Collateralized Mortgage Backed Securities | Carrying Amount, Fair Value Disclosure
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure	1	1
Bank Time Deposits | Carrying Amount, Fair Value Disclosure
Investment securities (current and long-term):
Other assets	100	100
Other Assets, Current	$ 100	$ 100

Contingencies and Commitments -

Contingencies and Commitments - Environmental (Details) $ in Millions	3 Months Ended
	Sep. 30, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Accrual for environmental loss contingencies, period increase	$ 82

Contingencies and Commitments_2

Contingencies and Commitments - Asset Retirement Obligations (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Other Commitments [Line Items]
Increase in ARO liability and asset retirement cost asset	$ 275
Production and delivery	4,077	$ 3,553	$ 11,796	$ 10,267
Freeport-McMoRan Oil & Gas
Other Commitments [Line Items]
Increase in ARO liability and asset retirement cost asset			$ 115
Production and delivery	$ 99

Contingencies and Commitments_3

Contingencies and Commitments - Litigation (Details) $ in Millions	3 Months Ended
	Sep. 30, 2024 USD ($)	Dec. 31, 2019 case
Loss Contingencies [Line Items]
Payments for Legal Settlements | $	$ 15
Louisiana Parishes Coastal Erosion Cases | FCX affiliates
Loss Contingencies [Line Items]
Number of pending claims		42
Number of Parishes That Filed Claims		6
Settled litigation | Louisiana Parishes Coastal Erosion Cases | FCX affiliates
Loss Contingencies [Line Items]
Number of pending claims		13

Contingencies and Commitments_4

Contingencies and Commitments - Indonesia Regulatory Matters (Details)	Jul. 02, 2024	May 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Export duty to be paid, percent	7.50%
Domestic ownership percentage		51%
Additional ownership percentage		10%

Commitment and Contingencies -

Commitment and Contingencies - Fire Incident (Details) $ in Millions	Oct. 14, 2024 USD ($)
Forecast
Unusual or Infrequent Item, or Both [Line Items]
Estimated repair costs	$ 100

Business Segments (Product Reve

Business Segments (Product Revenue) (Details) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Jul. 31, 2023	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) segment	Sep. 30, 2023 USD ($)
Revenue from External Customer [Line Items]
Number of Operating Segments | segment				4
Royalty expense		$ (131)	$ (80)	$ (344)	$ (234)
Treatment charges		(99)	(151)	(318)	(394)
PT-FI export duties		(129)	(133)	(360)	(147)
Revenues from contracts with customers		6,680	5,864	19,289	16,907
Revenues		$ 6,790	$ 5,824	19,735	$ 16,950
Export Duty On Copper Concentrates, Paid, Percent			2.50%
Construction progress			50%		50%
Export Duty On Copper Concentrates, Percent	7.50%	7.50%
Export Duties Credit					$ 18
Sales | Not Designated as Hedging Instrument
Revenue from External Customer [Line Items]
Matured derivative financial instruments		$ 110	$ (40)	446	43
Copper Cathode
Revenue from External Customer [Line Items]
Revenue		2,070	1,731	6,248	4,912
Copper In Concentrates
Revenue from External Customer [Line Items]
Revenue		1,786	1,965	5,199	5,241
Refined Copper Products
Revenue from External Customer [Line Items]
Revenue		1,012	992	2,939	2,797
Purchased Copper
Revenue from External Customer [Line Items]
Revenue		154	71	620	347
Gold
Revenue from External Customer [Line Items]
Revenue		1,394	854	3,497	2,384
Molybdenum
Revenue from External Customer [Line Items]
Revenue		454	479	1,351	1,562
Silver And Other
Revenue from External Customer [Line Items]
Revenue		$ 169	$ 136	$ 457	$ 439

Business Segments (Segment Repo

Business Segments (Segment Reporting) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 01, 2024	Aug. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Revenues	$ 6,790	$ 5,824	$ 19,735	$ 16,950
Production and delivery	4,077	3,553	11,796	10,267
Depreciation, depletion and amortization (DD&A)	600	533	1,704	1,479
Selling, general and administrative expenses	117	118	384	359
Exploration and research expenses	38	30	115	103
Environmental obligations and shutdown costs	20	98	115	239
Operating income	1,938	1,492	5,621	4,503
Interest expense, net	72	96	249	418
Net gain on early extinguishment of debt	0	5	0	10
Other Nonoperating Income (Expense)	97	71	295	183
Provision for (benefit from) income taxes	737	508	2,003	1,546
Equity in affiliated companies’ net earnings	10	0	14	12
Net income (loss) attributable to noncontrolling interests	710	510	2,063	1,284
Total assets	55,400	51,648	55,400	51,648			$ 52,506
Capital expenditures	1,199	1,178	3,569	3,462
Cerro Verde
Segment Reporting Information [Line Items]
Investment owned, percent					55.08%	53.56%
PT Freeport Indonesia
Segment Reporting Information [Line Items]
Provision for (benefit from) income taxes	182
Operating Segments | North America
Segment Reporting Information [Line Items]
Revenues	52	39	152	208
Production and delivery	1,303	1,279	3,678	3,608
Depreciation, depletion and amortization (DD&A)	109	110	327	312
Selling, general and administrative expenses	1	1	3	3
Exploration and research expenses	8	6	34	43
Environmental obligations and shutdown costs	0	4	0	26
Operating income	170	257	587	925
Interest expense, net	0	1	1	1
Net gain on early extinguishment of debt		0		0
Other Nonoperating Income (Expense)	9	(11)	8	(12)
Provision for (benefit from) income taxes	0	0	0	0
Equity in affiliated companies’ net earnings	0	0	0	0
Net income (loss) attributable to noncontrolling interests	0	0	0	0
Total assets	9,819	8,970	9,819	8,970
Capital expenditures	263	167	743	545
Operating Segments | South America
Segment Reporting Information [Line Items]
Revenues	1,123	1,025	3,486	3,190
Production and delivery	817	827	2,450	2,417
Depreciation, depletion and amortization (DD&A)	110	111	332	350
Selling, general and administrative expenses	2	3	6	7
Exploration and research expenses	2	2	11	8
Environmental obligations and shutdown costs	0	0	0	0
Operating income	385	301	1,164	1,046
Interest expense, net	6	(10)	16	74
Net gain on early extinguishment of debt		0		0
Other Nonoperating Income (Expense)	20	4	49	(25)
Provision for (benefit from) income taxes	158	131	475	438
Equity in affiliated companies’ net earnings	0	0	0	0
Net income (loss) attributable to noncontrolling interests	126	98	380	276
Total assets	10,289	10,120	10,289	10,120
Capital expenditures	100	76	272	259
Corporate And Eliminations
Segment Reporting Information [Line Items]
Revenues	440	472	1,336	1,547
Production and delivery	(1,417)	(1,591)	(4,180)	(4,647)
Depreciation, depletion and amortization (DD&A)	14	18	47	50
Selling, general and administrative expenses	76	76	261	238
Exploration and research expenses	26	22	62	52
Environmental obligations and shutdown costs	20	94	115	213
Operating income	(286)	(216)	(764)	(705)
Interest expense, net	46	88	187	293
Net gain on early extinguishment of debt		5		10
Other Nonoperating Income (Expense)	34	43	128	132
Provision for (benefit from) income taxes	(47)	(42)	15	(51)
Equity in affiliated companies’ net earnings	4	2	7	3
Net income (loss) attributable to noncontrolling interests	(17)	20	19	(23)
Total assets	4,078	4,909	4,078	4,909
Capital expenditures	63	38	152	96
Intersegment
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Intersegment | North America
Segment Reporting Information [Line Items]
Revenues	1,539	1,618	4,477	4,709
Intersegment | South America
Segment Reporting Information [Line Items]
Revenues	193	219	477	638
Morenci | Operating Segments | North America
Segment Reporting Information [Line Items]
Revenues	40	17	90	75
Production and delivery	492	480	1,389	1,284
Depreciation, depletion and amortization (DD&A)	47	47	140	132
Selling, general and administrative expenses	0	0	1	1
Exploration and research expenses	4	2	13	8
Environmental obligations and shutdown costs	0	0	0	0
Operating income	50	112	227	437
Interest expense, net	0	0	0	0
Net gain on early extinguishment of debt		0		0
Other Nonoperating Income (Expense)	(1)	(2)	(1)	(4)
Provision for (benefit from) income taxes	0	0	0	0
Equity in affiliated companies’ net earnings	0	0	0	0
Net income (loss) attributable to noncontrolling interests	0	0	0	0
Total assets	3,172	3,171	3,172	3,171
Capital expenditures	48	53	139	176
Morenci | Intersegment | North America
Segment Reporting Information [Line Items]
Revenues	553	624	1,680	1,787
Other Individually Immaterial Operating Segments | Operating Segments | North America
Segment Reporting Information [Line Items]
Revenues	12	22	62	133
Production and delivery	811	799	2,289	2,324
Depreciation, depletion and amortization (DD&A)	62	63	187	180
Selling, general and administrative expenses	1	1	2	2
Exploration and research expenses	4	4	21	35
Environmental obligations and shutdown costs	0	4	0	26
Operating income	120	145	360	488
Interest expense, net	0	1	1	1
Net gain on early extinguishment of debt		0		0
Other Nonoperating Income (Expense)	10	(9)	9	(8)
Provision for (benefit from) income taxes	0	0	0	0
Equity in affiliated companies’ net earnings	0	0	0	0
Net income (loss) attributable to noncontrolling interests	0	0	0	0
Total assets	6,647	5,799	6,647	5,799
Capital expenditures	215	114	604	369
Other Individually Immaterial Operating Segments | Operating Segments | South America
Segment Reporting Information [Line Items]
Revenues	237	203	699	627
Production and delivery	187	178	538	539
Depreciation, depletion and amortization (DD&A)	18	17	51	48
Selling, general and administrative expenses	0	0	0	0
Exploration and research expenses	(1)	0	2	2
Environmental obligations and shutdown costs	0	0	0	0
Operating income	33	8	108	38
Interest expense, net	0	0	0	0
Net gain on early extinguishment of debt		0		0
Other Nonoperating Income (Expense)	(2)	13	11	11
Provision for (benefit from) income taxes	10	12	45	19
Equity in affiliated companies’ net earnings	0	0	0	0
Net income (loss) attributable to noncontrolling interests	12	14	48	34
Total assets	2,013	1,893	2,013	1,893
Capital expenditures	18	15	63	80
Other Individually Immaterial Operating Segments | Intersegment | North America
Segment Reporting Information [Line Items]
Revenues	986	994	2,797	2,922
Other Individually Immaterial Operating Segments | Intersegment | South America
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Cerro Verde | Cerro Verde
Segment Reporting Information [Line Items]
Interest expense, net		(13)		(13)
Cerro Verde | Peruvian Supreme Court
Segment Reporting Information [Line Items]
Interest expense, net				(74)
Cerro Verde | Operating Segments | South America
Segment Reporting Information [Line Items]
Revenues	886	822	2,787	2,563
Production and delivery	630	649	1,912	1,878
Depreciation, depletion and amortization (DD&A)	92	94	281	302
Selling, general and administrative expenses	2	3	6	7
Exploration and research expenses	3	2	9	6
Environmental obligations and shutdown costs	0	0	0	0
Operating income	352	293	1,056	1,008
Interest expense, net	6	(10)	16	74
Net gain on early extinguishment of debt		0		0
Other Nonoperating Income (Expense)	22	(9)	38	(36)
Provision for (benefit from) income taxes	148	119	430	419
Equity in affiliated companies’ net earnings	0	0	0	0
Net income (loss) attributable to noncontrolling interests	114	84	332	242
Total assets	8,276	8,227	8,276	8,227
Capital expenditures	82	61	209	179
Labor-related charges	34		99
Cerro Verde | Intersegment | South America
Segment Reporting Information [Line Items]
Revenues	193	219	477	638
Grasberg Segment
Segment Reporting Information [Line Items]
Capital expenditures			1,198	1,209
Grasberg Segment | Operating Segments | Indonesia
Segment Reporting Information [Line Items]
Revenues	2,856	2,030	7,689	5,268
Production and delivery	918	672	2,451	1,871
Depreciation, depletion and amortization (DD&A)	340	271	923	694
Selling, general and administrative expenses	32	32	93	90
Exploration and research expenses	2	0	8	0
Environmental obligations and shutdown costs	0	0	0	0
Operating income	1,690	1,120	4,600	3,045
Interest expense, net	10	9	17	28
Net gain on early extinguishment of debt		0		0
Other Nonoperating Income (Expense)	42	30	110	90
Provision for (benefit from) income taxes	625	419	1,524	1,159
Equity in affiliated companies’ net earnings	6	(2)	7	9
Net income (loss) attributable to noncontrolling interests	601	392	1,664	1,031
Total assets	27,474	24,438	27,474	24,438
Capital expenditures	713	854	2,203	2,467
Administrative fine		55		55
Grasberg Segment | Intersegment | Indonesia
Segment Reporting Information [Line Items]
Revenues	126	65	386	432
Molybdenum
Segment Reporting Information [Line Items]
Capital expenditures			88	43
Molybdenum | Operating Segments
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Production and delivery	140	120	393	321
Depreciation, depletion and amortization (DD&A)	19	14	51	48
Selling, general and administrative expenses	0	0	0	0
Exploration and research expenses	0	0	0	0
Environmental obligations and shutdown costs	0	0	0	0
Operating income	(27)	13	(29)	151
Interest expense, net	0	0	0	0
Net gain on early extinguishment of debt		0		0
Other Nonoperating Income (Expense)	0	0	0	(1)
Provision for (benefit from) income taxes	0	0	0	0
Equity in affiliated companies’ net earnings	0	0	0	0
Net income (loss) attributable to noncontrolling interests	0	0	0	0
Total assets	1,955	1,747	1,955	1,747
Capital expenditures	25	21	88	43
Molybdenum | Intersegment
Segment Reporting Information [Line Items]
Revenues	132	147	415	520
Rod and Refining Segment | Operating Segments
Segment Reporting Information [Line Items]
Revenues	1,560	1,566	4,742	4,552
Production and delivery	1,562	1,566	4,741	4,558
Depreciation, depletion and amortization (DD&A)	2	2	4	4
Selling, general and administrative expenses	0	0	0	0
Exploration and research expenses	0	0	0	0
Environmental obligations and shutdown costs	0	0	0	0
Operating income	7	10	29	18
Interest expense, net	0	0	0	0
Net gain on early extinguishment of debt		0		0
Other Nonoperating Income (Expense)	(1)	0	(1)	(1)
Provision for (benefit from) income taxes	0	0	0	0
Equity in affiliated companies’ net earnings	0	0	0	0
Net income (loss) attributable to noncontrolling interests	0	0	0	0
Total assets	294	288	294	288
Capital expenditures	7	2	23	9
Rod and Refining Segment | Intersegment
Segment Reporting Information [Line Items]
Revenues	11	12	32	28
Atlantic Copper Smelting and Refining Segment | Operating Segments
Segment Reporting Information [Line Items]
Revenues	759	692	2,330	2,185
Production and delivery	754	680	2,263	2,139
Depreciation, depletion and amortization (DD&A)	6	7	20	21
Selling, general and administrative expenses	6	6	21	21
Exploration and research expenses	0	0	0	0
Environmental obligations and shutdown costs	0	0	0	0
Operating income	(1)	7	34	23
Interest expense, net	10	8	28	22
Net gain on early extinguishment of debt		0		0
Other Nonoperating Income (Expense)	(7)	5	1	0
Provision for (benefit from) income taxes	1	0	(11)	0
Equity in affiliated companies’ net earnings	0	0	0	0
Net income (loss) attributable to noncontrolling interests	0	0	0	0
Total assets	1,491	1,176	1,491	1,176
Capital expenditures	28	20	88	43
Atlantic Copper Smelting and Refining Segment | Intersegment
Segment Reporting Information [Line Items]
Revenues	6	8	8	19
Corporate And Eliminations | Intersegment
Segment Reporting Information [Line Items]
Revenues	$ (2,007)	$ (2,069)	$ (5,795)	$ (6,346)