Document and Entity Information Document - USD ($) $ in Billions	3 Months Ended
	Mar. 31, 2018	Apr. 30, 2018	Jun. 30, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	FREEPORT-MCMORAN INC
Entity Central Index Key	0000831259
Current Fiscal Year End Date	--03-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 15.5
Entity Common Stock, Shares Outstanding		1,448,794,207
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 3,702	$ 4,447
Trade accounts receivable	1,222	1,246
Income and other tax receivables	222	325
Inventories:
Total materials and supplies, net	1,335	1,305
Mill and leach stockpiles	1,448	1,422
Product	1,102	1,166
Other current assets	367	270
Assets held for sale	708	598
Total current assets	10,106	10,779
Property, plant, equipment and mine development costs, net	22,792	22,844
Long-term mill and leach stockpiles	1,387	1,409
Other assets	2,352	2,270
Total assets	36,637	37,302
Current liabilities:
Accounts payable and accrued liabilities	2,209	2,321
Accrued income taxes	749	565
Current portion of debt	483	1,414
Current portion of environmental and asset retirement obligations	396	388
Dividends Payable, Current	72	0
Liabilities held for sale	435	350
Total current liabilities	4,344	5,038
Long-term debt, less current portion	11,123	11,703
Deferred income taxes	3,642	3,622
Environmental and asset retirement obligations, less current portion	3,630	3,631
Other liabilities	1,972	2,012
Total liabilities	24,711	26,006
Stockholders’ equity:
Common stock	158	158
Capital in excess of par value	26,729	26,751
Accumulated deficit	(14,030)	(14,722)
Accumulated other comprehensive loss	(475)	(487)
Common stock held in treasury	(3,726)	(3,723)
Total stockholders’ equity	8,656	7,977
Noncontrolling interests	3,270	3,319
Total equity	11,926	11,296
Total liabilities and equity	$ 36,637	$ 37,302

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Statement [Abstract]
Revenues	$ 4,868	$ 3,341
Cost of sales:
Production and delivery	2,808	2,188
Depreciation, depletion and amortization	451	389
Total cost of sales	3,259	2,577
Selling, general and administrative expenses	131	151
Mining exploration and research expenses	21	14
Environmental obligations and shutdown costs	9	25
Net gain on sales of assets	(11)	(23)
Total costs and expenses	3,409	2,744
Operating income	1,459	597
Interest expense, net	(151)	(167)
Other income, net	28	8
Income from continuing operations before income taxes and equity in affiliated companies’ net (losses) earnings	1,336	438
Provision for income taxes	(506)	(174)
Equity in affiliated companies’ net (losses) earnings	(2)	4
Net income from continuing operations	828	268
Net (loss) income from discontinued operations	(11)	38
Net income (loss)	817	306
Net income attributable to noncontrolling interests:
Continuing operations	(125)	(75)
Discontinued operations	0	(3)
Net income attributable to common stockholders	$ 692	$ 228
Basic and diluted net income (loss) per share attributable to common stockholders:
Continuing operations	$ 0.48	$ 0.13
Discontinued operations	(0.01)	0.03
Basic and diluted net income (loss) per share attributable to common stockholders:	$ 0.47	$ 0.16
Basic	1,449	1,446
Diluted	1,458	1,454
Dividends declared per share of common stock	$ 0.05	$ 0

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 817	$ 306
Other comprehensive (loss) income, net of taxes:
Unrealized gains on securities	0	1
Defined benefit plans:
Amortization of unrecognized amounts included in net periodic benefit costs	12	11
Foreign exchange losses	(1)	(1)
Other comprehensive income	11	11
Total comprehensive income	828	317
Total comprehensive income attributable to noncontrolling interests	(124)	(78)
Total comprehensive income (loss)	$ 704	$ 239

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flow from operating activities:
Net income	$ 817	$ 306
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion and amortization	451	389
Net gain on sales of assets	(11)	(23)
Share-based Compensation	49	34
Payments for Cerro Verde royalty dispute	10	11
Net charges for environmental and asset retirement obligations, including accretion	53	71
Payments for environmental and asset retirement obligations	38	33
Pension and Other Postretirement Benefits Expense (Reversal of Expense), Noncash	18	33
Payment for Pension and Other Postretirement Benefits	(24)	(30)
Deferred income taxes	22	20
Gain on disposal of discontinued operations	(11)	32
Decrease (increase) in long term mill and leach stockpiles	22	8
Oil and gas contract settlement payments	0	70
Other, net	30	(59)
Changes in working capital and other tax payments:
Accounts receivable	136	623
Inventories	(142)	(135)
Other current assets	(42)	(13)
Accounts payable and accrued liabilities	(96)	(433)
Accrued income taxes and timing of other tax payments	123	147
Net cash provided by operating activities	1,369	792
Cash flow from investing activities:
Capital expenditures	402	344
Intangible water rights and other, net	(90)	(17)
Net cash used in investing activities	(492)	(361)
Cash flow from financing activities:
Proceeds from debt	122	157
Repayments of debt	(1,633)	(815)
Cash dividends paid:
Common stock	0	(1)
Noncontrolling interests	(80)	(15)
Stock-based awards net proceeds (payments)	3	(5)
Net cash used in financing activities	(1,588)	(679)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	(711)	(248)
Decrease in cash and cash equivalents in assets held for sale	32	8
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year	3,952	4,163
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	3,702
North America Copper Mines Segment [Member]
Cash flow from investing activities:
Capital expenditures	92	28
South America Mines Segment [Member]
Cash flow from investing activities:
Capital expenditures	67	15
Grasberg Segment [Member]
Cash flow from investing activities:
Capital expenditures	203	244
Molybdenum [Member]
Cash flow from investing activities:
Capital expenditures	1	1
Other Segments [Member]
Cash flow from investing activities:
Capital expenditures	$ 39	$ 56

Consolidated Statement of Equity (Unaudited) - 3 months ended Mar. 31, 2018 - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Capital in Excess of Par Value	Accumulated Deficit	Accumulated Other Comprehensive Loss	Common Stock Held in Treasury	Total Stockholder's Equity	Noncontrolling Interests
Balance (in shares) at Dec. 31, 2017		1,578				130
Balance at Dec. 31, 2017	$ 11,296	$ 158	$ 26,751	$ (14,722)	$ (487)	$ (3,723)	$ 7,977	$ 3,319
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercised and issued stock-based awards (in shares)		1				0
Exercised and issued stock-based awards	6	$ 0	6	0	0	$ 0	6	0
Stock-based compensation, including the tender of shares	41	0	44	0	0	$ (3)	41	0
Stock-based compensation, including the tender of shares (in shares)						0
Dividends	(245)	$ 0	(72)		0	$ 0	(72)	173
Tender of shares for stock based awards shares		0				0
Adjustment to Additional Paid in Capital, Income Tax Effect from Share-based Compensation, Net			0		0
Net income attributable to common stockholders	692	$ 0		692		$ 0	692	0
Net income attributable to noncontrolling interests	(125)	0				0	0	(125)
Noncontrolling Interest, Change in Redemption Value			0	0	0
Other comprehensive income	11	$ 0	0		12	$ 0	12	(1)
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	828			0
Balance (in shares) at Mar. 31, 2018		1,579				130
Balance at Mar. 31, 2018	$ 11,926	$ 158	$ 26,729	$ (14,030)	$ (475)	$ (3,726)	$ 8,656	$ 3,270

General Information (Unaudited)	3 Months Ended
General Information (Unaudited)	Mar. 31, 2018
General Information [Abstract]
General Information	GENERAL INFORMATION The accompanying unaudited consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and do not include all information and disclosures required by generally accepted accounting principles (GAAP) in the United States (U.S.). Therefore, this information should be read in conjunction with Freeport-McMoRan Inc.’s (FCX) consolidated financial statements and notes contained in its annual report on Form 10-K for the year ended December 31, 2017. 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. With the exception of the accounting for discontinued operations and assets held for sale, all such adjustments are, in the opinion of management, of a normal recurring nature. Operating results for the three-month period ended March 31, 2018, are not necessarily indicative of the results that may be expected for the year ending December 31, 2018.

Earnings per Share (Unaudited) Earnings per Share (Notes)

3 Months Ended

Mar. 31, 2018

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 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 anti-dilutive. Reconciliations of net income and weighted-average shares of common stock outstanding for purposes of calculating basic and diluted net income per share follow (in millions, except per share amounts):



	Three Months Ended
	March 31,
	2018				2017
Net income from continuing operations	$	828			$	268
Net income from continuing operations attributable to noncontrolling interests	(125		)		(75		)
Undistributed earnings allocated to participating securities	(4		)		(3		)
Net income from continuing operations attributable to common stockholders	$	699			$	190

Net (loss) income from discontinued operations	$	(11	)		$	38
Net income from discontinued operations attributable to noncontrolling interests	—				(3		)
Net (loss) income from discontinued operations attributable to common stockholders	$	(11	)		$	35


Net income attributable to common stockholders	$	688			$	225


Basic weighted-average shares of common stock outstanding	1,449				1,446
Add shares issuable upon exercise or vesting of dilutive stock options and restricted stock units	9			^a	8
Diluted weighted-average shares of common stock outstanding	1,458				1,454

Basic and diluted net income (loss) per share attributable to common stockholders:
Continuing operations	$	0.48			$	0.13
Discontinued operations	(0.01		)		0.03
	$	0.47			$	0.16


a.	Excludes approximately 4 million shares of common stock associated with outstanding stock options with exercise prices less than the average market price of FCX’s common stock that were anti-dilutive.

Outstanding stock options with exercise prices greater than the average market price of FCX’s common stock during the period are excluded from the computation of diluted net income per share of common stock. Stock options for 33 million shares of common stock were excluded for first-quarter 2018 and 44 million for first-quarter 2017.

Inventories, Including Long-Term Mill and Leach Stockpiles (Unaudited)

3 Months Ended

Mar. 31, 2018

Inventory Disclosure [Abstract]

Inventories, Including Long-Term Mill and Leach Stockpiles

INVENTORIES, INCLUDING LONG-TERM MILL AND LEACH STOCKPILES

The components of inventories follow (in millions):



	March 31, 2018		December 31, 2017
Current inventories:
Total materials and supplies, net^a	$	1,335	$	1,305

Mill stockpiles	$	330	$	360
Leach stockpiles	1,118		1,062
Total current mill and leach stockpiles	$	1,448	$	1,422

Raw materials (primarily concentrate)	$	284	$	265
Work-in-process	138		154
Finished goods	680		747
Total product inventories	$	1,102	$	1,166

Long-term inventories:
Mill stockpiles	$	308	$	300
Leach stockpiles	1,079		1,109
Total long-term mill and leach stockpiles	$	1,387	$	1,409


a.	Materials and supplies inventory was net of obsolescence reserves totaling $25 million at March 31, 2018, and $29 million at December 31, 2017.

Income Taxes (Unaudited)

3 Months Ended

Mar. 31, 2018

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

Variations in the relative proportions of jurisdictional income result in fluctuations to FCX’s consolidated effective income tax rate. FCX’s consolidated effective income tax rate was 38 percent for first-quarter 2018 and 40 percent for first-quarter 2017. Geographic sources of FCX’s (provision for) benefit from income taxes follow (in millions):



	Three Months Ended
	March 31,
	2018			2017
U.S. operations	$	3		$	(7	)
International operations	(509		)	(167		)
Total	$	(506	)	$	(174	)

The Tax Cuts and Jobs Act (the Act) was enacted on December 22, 2017, and includes significant modifications to existing U.S. tax laws and creates many new complex tax provisions. As of December 31, 2017, FCX recorded provisional impacts of the tax effects related to specific provisions and continues to evaluate other provisions of the Act. During the three months ended March 31, 2018, no adjustments were made to the provisional amounts recorded at December 31, 2017, as FCX has not fully completed its analysis of the Act. During the remainder of 2018, FCX will continue to refine its calculations as it gains a more thorough understanding of the Act.

Debt

3 Months Ended

Mar. 31, 2018

Debt Disclosure [Abstract]

Debt

NOTE 5. DEBT AND EQUITY

The components of debt follow (in millions):



	March 31, 2018			December 31, 2017
Senior notes and debentures:
Issued by FCX	$	10,020		$	11,429
Issued by Freeport Minerals Corporation	358			358
Issued by Freeport-McMoRan Oil & Gas LLC (FM O&G LLC)	54			54
Cerro Verde credit facility	1,170			1,269
Other	4			7
Total debt^a	11,606			13,117
Less current portion of debt	(483		)	(1,414		)
Long-term debt	$	11,123		$	11,703


a.	Includes additions for unamortized fair value adjustments totaling $93 million at March 31, 2018 ($97 million at December 31, 2017), and is net of reductions for unamortized net discounts and unamortized debt issuance costs totaling $81 million at March 31, 2018 ($85 million at December 31, 2017).

Revolving Credit Facility. At March 31, 2018, there were no borrowings outstanding and $13 million in letters of credit issued under FCX’s revolving credit facility, resulting in availability of approximately $3.5 billion, of which approximately $1.5 billion could be used for additional letters of credit.

In April 2018, FCX, PT Freeport Indonesia (PT-FI) and FM O&G LLC entered into a new $3.5 billion, five-year, unsecured revolving credit facility, which replaced FCX’s prior revolving credit facility (scheduled to mature on May 31, 2019). The new revolving credit facility is available until April 20, 2023, with $500 million available to PT-FI, and has substantially similar structure and terms as the prior revolving credit facility. Interest on loans made under the new revolving credit facility will, at the option of FCX, be determined based on the adjusted London Interbank Offered rate or the alternate base rate (each as defined in the new revolving credit facility) plus a spread to be determined by reference to FCX’s credit ratings. The new revolving credit facility contains customary affirmative covenants and representations, and also contains a number of negative covenants that, among other things, restrict, subject to certain exceptions, the ability of FCX's subsidiaries that are not borrowers or guarantors to incur additional indebtedness (including guarantee obligations) and FCX's or its subsidiaries’ ability to: create liens on assets; enter into sale and leaseback transactions; engage in mergers, liquidations and dissolutions; and sell assets. FCX’s new revolving credit facility also contains financial ratios governing maximum total leverage and the minimum interest expense coverage ratio. FCX’s total leverage ratio (ratio of total debt to consolidated earnings before interest, taxes, depreciation and amortization (EBITDA), as defined in the credit agreement) cannot exceed 3.75x, and the minimum interest expense coverage ratio (ratio of consolidated EBITDA to consolidated cash interest expense, as defined in the credit agreement) is 2.25x.

Senior Notes. In March 2018, FCX’s 2.375% Senior Notes matured, and the $1.4 billion outstanding principal balance was repaid.

On April 4, 2018, FCX redeemed $454 million of aggregate principal amount of outstanding senior notes, consisting of $404 million of FCX 6.75% Senior Notes due 2022 and $50 million of FM O&G LLC 6⁷/₈% Senior Notes due 2023. Holders of these senior notes received the principal amount together with the redemption premium and accrued and unpaid interest up to the redemption date. As a result of these redemptions, FCX will record a gain on early extinguishment of debt of $10 million in second-quarter 2018.

Cerro Verde Credit Facility. In March 2018, Cerro Verde prepaid $100 million under its credit facility.

Interest Expense, Net. Consolidated interest costs (before capitalized interest) totaled $176 million in first-quarter 2018 and $195 million in first-quarter 2017. Capitalized interest added to property, plant, equipment and mine development costs, net, totaled $25 million in first-quarter 2018 and $28 million in first-quarter 2017.

Common Stock. In February 2018, FCX’s Board of Directors (the Board) reinstated a cash dividend on FCX’s common stock. On March 28, 2018, the Board declared a quarterly cash dividend of $0.05 per share, which was paid on May 1, 2018, to common stockholders of record as of April 13, 2018.

Financial Instruments (Notes)

3 Months Ended

Mar. 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Financial Instruments

FINANCIAL INSTRUMENTS

FCX does not purchase, hold or sell derivative financial instruments unless there is an existing asset or obligation, or it anticipates a future activity that is likely to occur and will result in exposure to market risks, which FCX intends to offset or mitigate. FCX does not enter into any derivative financial instruments for speculative purposes, but has entered into derivative financial instruments in limited instances to achieve specific objectives. These objectives principally relate to managing risks associated with commodity price changes, foreign currency exchange rates and interest rates.

Commodity Contracts. From time to time, FCX has entered into derivative contracts to hedge the market risk associated with fluctuations in the prices of commodities it purchases and sells. Derivative financial instruments used by FCX to manage its risks do not contain credit risk-related contingent provisions. As of March 31, 2018, and December 31, 2017, FCX had no price protection contracts relating to its mine production. A discussion of FCX’s derivative contracts and programs follows.

Derivatives Designated as Hedging Instruments – Fair Value Hedges

Copper Futures and Swap Contracts. Some of FCX’s U.S. copper rod customers request a fixed market price instead of the Commodity Exchange Inc. (COMEX) average copper price in the month of shipment. FCX hedges this price exposure in a manner that allows it to receive the COMEX average price in the month of shipment while the customers pay the fixed price they requested. FCX accomplishes this by entering into copper futures or swap contracts. Hedging gains or losses from these copper futures and swap contracts are recorded in revenues. FCX did not have any significant gains or losses resulting from hedge ineffectiveness during the three-month periods ended March 31, 2018 and 2017. At March 31, 2018, FCX held copper futures and swap contracts that qualified for hedge accounting for 57 million pounds at an average contract price of $3.10 per pound, with maturities through September 2019.

A summary of (losses) gains recognized in revenues for derivative financial instruments related to commodity contracts that are designated and qualify as fair value hedge transactions, along with the unrealized (losses) gains on the related hedged item follows (in millions):



	Three Months Ended
	March 31,
	2018			2017
Copper futures and swap contracts:
Unrealized (losses) gains:
Derivative financial instruments	$	(15	)	$	(2	)
Hedged item – firm sales commitments	15			2

Realized gains:
Matured derivative financial instruments	2			8

Derivatives Not Designated as Hedging Instruments

Embedded Derivatives. Certain FCX concentrate and cathode contracts are provisionally priced at the time of shipment. The provisional prices are finalized in a specified future month (generally one to four months from the shipment date) based on quoted monthly average spot copper prices on the London Metal Exchange (LME) or COMEX 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 until the date of settlement. Similarly, FCX purchases copper and cobalt under contracts that provide for provisional pricing. FCX applies the normal purchases and normal sales scope exception in accordance with derivatives and hedge accounting guidance to the host sales agreements since the contracts do not allow for net settlement and always result in physical delivery. Sales and purchases with a provisional sales price contain an embedded derivative (i.e., the price settlement mechanism is settled after the time of delivery) that is required to be bifurcated from the host contract. The host contract is the sale or purchase of the metals contained in the concentrate or cathode at the then-current metal price as defined in the contract. 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 March 31, 2018, follows:



	Open Positions	Average Price Per Unit				Maturities Through
	Open Positions	Contract		Market		Maturities Through
Embedded derivatives in provisional sales contracts:
Copper (millions of pounds)	518	$	3.13	$	3.04	August 2018
Gold (thousands of ounces)	311	1,325		1,327		July 2018
Embedded derivatives in provisional purchase contracts:
Copper (millions of pounds)	104	3.13		3.04		July 2018
Cobalt (millions of pounds)^a	8	30.19		33.88		June 2018


a.	Relates to assets held for sale.

Copper Forward Contracts. Atlantic Copper, FCX’s wholly owned smelting and refining unit in Spain, enters into copper forward contracts designed to hedge its copper price risk whenever its physical purchases and sales pricing periods do not match. These economic hedge transactions are intended to hedge against changes in copper prices, with the mark-to-market hedging gains or losses recorded in cost of sales. At March 31, 2018, Atlantic Copper held net copper forward sales contracts for 3 million pounds at an average contract price of $3.09 per pound, with maturities through May 2018.

Summary of (Losses) Gains. A summary of the realized and unrealized (losses) gains recognized in operating income for commodity contracts that do not qualify as hedge transactions, including embedded derivatives, follows (in millions):



	Three Months Ended
	March 31,
	2018			2017
Embedded derivatives in provisional sales contracts:^a
Copper	$	(135	)	$	107
Gold and other metals	18			19
Copper forward contracts^b	2			(1		)


a.	Amounts recorded in revenues.


b.	Amounts recorded in cost of sales as production and delivery costs.

Unsettled Derivative Financial Instruments

A summary of the fair values of unsettled commodity derivative financial instruments follows (in millions):



	March 31, 2018		December 31, 2017
Commodity Derivative Assets:
Derivatives designated as hedging instruments:
Copper futures and swap contracts	$	2	$	11
Derivatives not designated as hedging instruments:
Embedded derivatives in provisional copper and gold
sales/purchase contracts	11		155
Copper forward contracts	—		1
Total derivative assets	$	13	$	167

Commodity Derivative Liabilities:
Derivatives designated as hedging instruments:
Copper futures and swap contracts	$	5	$	—
Derivatives not designated as hedging instruments:
Embedded derivatives in provisional copper and gold
sales/purchase contracts	48		31
Copper forward contracts	—		2
Total derivative liabilities	$	53	$	33

FCX’s commodity contracts have netting arrangements with counterparties with which the right of offset exists, and it is FCX’s policy to generally offset balances by counterparty on its balance sheet. FCX’s embedded derivatives on provisional sales/purchase contracts are netted with the corresponding outstanding receivable/payable balances. A summary of these unsettled commodity contracts that are offset in the balance sheets follows (in millions):



	Assets				Liabilities
	March 31, 2018		December 31, 2017		March 31, 2018		December 31, 2017

Gross amounts recognized:
Commodity contracts:
Embedded derivatives in provisional
sales/purchase contracts	$	11	$	155	$	48	$	31
Copper derivatives	2		12		5		2
	13		167		53		33

Less gross amounts of offset:
Commodity contracts:
Embedded derivatives in provisional
sales/purchase contracts	1		—		1		—
Copper derivatives	—		1		—		1
	1		1		1		1

Net amounts presented in balance sheet:
Commodity contracts:
Embedded derivatives in provisional
sales/purchase contracts	10		155		47		31
Copper derivatives	2		11		5		1
	$	12	$	166	$	52	$	32

Balance sheet classification:
Trade accounts receivable	$	—	$	151	$	41	$	—
Other current assets	2		11		—		—
Accounts payable and accrued liabilities	10		4		11		32
	$	12	$	166	$	52	$	32

The table above excludes $30 million of embedded derivatives in provisional cobalt purchase contracts at March 31, 2018, and $24 million at December 31, 2017, which are reflected in liabilities held for sale.

Credit Risk. FCX is exposed to credit loss when financial institutions with which it has entered into derivative transactions (commodity, foreign exchange and interest rate swaps) are unable to pay. To minimize the risk of such losses, FCX uses counterparties that meet certain credit requirements and periodically reviews the creditworthiness of these counterparties. FCX does not anticipate that any of the counterparties it deals with will default on their obligations. As of March 31, 2018, the maximum amount of credit exposure associated with derivative transactions was $11 million.

Other Financial Instruments. Other financial instruments include cash and cash equivalents, accounts receivable, restricted cash, restricted cash equivalents, investment securities, legally restricted funds, accounts payable and accrued liabilities, and long-term debt. The carrying value for cash and cash equivalents (which included time deposits of $2.8 billion at March 31, 2018, and $2.9 billion at December 31, 2017), accounts receivable, restricted cash, restricted cash equivalents, and accounts payable and accrued liabilities approximates fair value because of their short-term nature and generally negligible credit losses (refer to Note 7 for the fair values of investment securities, legally restricted funds and long-term debt).

In addition, as of March 31, 2018, FCX has contingent consideration assets related to certain 2016 asset sales (refer to Note 7 for the related fair values and to Note 2 of FCX’s annual report on Form 10-K for the year ended December 31, 2017, for further discussion of these instruments).

Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents. The following table provides a reconciliation of total cash, cash equivalents, restricted cash and restricted cash equivalents presented in the consolidated statements of cash flows to the components presented in the consolidated balance sheets (in millions):



	March 31, 2018		December 31, 2017
Balance sheet components:
Cash and cash equivalents	$	3,702	$	4,447
Restricted cash and restricted cash equivalents included in:
Other current assets	123		52
Other assets	127		132
Total cash, cash equivalents, restricted cash and restricted cash equivalents presented in the consolidated statements of cash flows	$	3,952	$	4,631

FCX’s restricted cash and restricted cash equivalents are primarily related to PT-FI’s commitment for smelter development in Indonesia; guarantees and commitments for certain mine closure and reclamation obligations, and customs duty taxes; and funds held as cash collateral for surety bonds related to plugging and abandonment obligations of certain oil and gas properties. Restricted cash and restricted cash equivalents are classified as a current or long-term asset based on the timing and nature of when or how the cash is expected to be used or when the restrictions are expected to lapse. Restricted cash and restricted cash equivalents are comprised of time deposits and money market funds.

FAIR VALUE MEASUREMENT (Notes)

3 Months Ended

Mar. 31, 2018

Fair Value Disclosures [Abstract]

Fair Value Measurements

FAIR VALUE MEASUREMENT

Fair value accounting guidance includes a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). FCX recognizes transfers between levels at the end of the reporting period. FCX did not have any significant transfers in or out of Level 1, 2 or 3 for first-quarter 2018.

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, accounts receivable, restricted cash, restricted cash equivalents, and accounts payable and accrued liabilities (refer to Note 6) follows (in millions):



	At March 31, 2018
	Carrying		Fair Value
	Amount		Total		NAV		Level 1		Level 2		Level 3
Assets
Investment securities:^a,b
U.S. core fixed income fund	$	25	$	25	$	25	$	—	$	—	$	—
Equity securities	5		5		—		5		—		—
Total	30		30		25		5		—		—

Legally restricted funds:^a
U.S. core fixed income fund	54		54		54		—		—		—
Government bonds and notes	42		42		—		—		42		—
Corporate bonds	29		29		—		—		29		—
Government mortgage-backed securities	25		25		—		—		25		—
Asset-backed securities	13		13		—		—		13		—
Money market funds	8		8		—		8		—		—
Collateralized mortgage-backed securities	7		7		—		—		7		—
Municipal bonds	1		1		—		—		1		—
Total	179		179		54		8		117		—

Derivatives:
Embedded derivatives in provisional sales/
purchase contracts in a gross asset position^c	11		11		—		—		11		—
Copper futures and swap contracts^c	2		2		—		1		1		—
Contingent consideration for the sales of
TF Holdings Limited (TFHL) and onshore
California oil and gas properties^a	110		110		—		—		110		—
Total	123		123		—		1		122		—

Contingent consideration for the sale of the
Deepwater GOM oil and gas properties^a	150		132		—		—		—		132

Liabilities
Derivatives:^c
Embedded derivatives in provisional sales/
purchase contracts in a gross liability position^d	$	48	$	48	$	—	$	—	$	48	$	—
Copper futures and swap contracts	5		5		—		4		1		—
Total	53		53		—		4		49		—

Long-term debt, including current portion^e	11,606		11,406		—		—		11,406		—



	At December 31, 2017
	Carrying		Fair Value
	Amount		Total		NAV		Level 1		Level 2		Level 3
Assets
Investment securities:^a,b
U.S. core fixed income fund	$	25	$	25	$	25	$	—	$	—	$	—
Equity securities	5		5		—		5		—		—
Total	30		30		25		5		—		—

Legally restricted funds:^a
U.S. core fixed income fund	55		55		55		—		—		—
Government bonds and notes	40		40		—		—		40		—
Corporate bonds	32		32		—		—		32		—
Government mortgage-backed securities	27		27		—		—		27		—
Asset-backed securities	15		15		—		—		15		—
Money market funds	11		11		—		11		—		—
Collateralized mortgage-backed securities	8		8		—		—		8		—
Municipal bonds	1		1		—		—		1		—
Total	189		189		55		11		123		—

Derivatives:
Embedded derivatives in provisional sales/
purchase contracts in a gross asset position^c	155		155		—		—		155		—
Copper futures and swap contracts^c	11		11		—		9		2		—
Copper forward contracts^c	1		1		—		—		1		—
Contingent consideration for the sales of TFHL
and onshore California oil and gas properties^a	108		108		—		—		108		—
Total	275		275		—		9		266		—

Contingent consideration for the sale of the
Deepwater GOM oil and gas properties^a	150		134		—		—		—		134

Liabilities
Derivatives:^c
Embedded derivatives in provisional sales/
purchase contracts in a gross liability position^d	$	31	$	31	$	—	$	—	$	31	$	—
Copper forward contracts	2		2		—		1		1		—
Total	33		33		—		1		32		—

Long-term debt, including current portion^e	13,117		13,269		—		—		13,269		—


a.	Current portion included in other current assets and long-term portion included in other assets.

b.

Excludes time deposits (which approximated fair value) included in (i) other current assets of $123 million at March 31, 2018, and $52 million at December 31, 2017, primarily associated with PT-FI’s mine closure and reclamation guarantees and its disputed incremental export duty and (ii) other assets of $125 million at March 31, 2018, and $123 million at December 31, 2017, primarily associated with an assurance bond to support PT-FI’s commitment for smelter development in Indonesia.


c.	Refer to Note 6 for further discussion and balance sheet classifications.


d.	Excludes embedded derivatives in provisional cobalt purchase contracts of $30 million at March 31, 2018, and $24 million at December 31, 2017 (refer to Note 6 for further discussion).


e.	Recorded at cost except for debt assumed in acquisitions, which were recorded at fair value at the respective acquisition dates. In addition, debt excludes $112 million at March 31, 2018, and December 31, 2017, related to assets held for sale (which approximated fair value).

Valuation Techniques. The U.S. core fixed income fund is valued at NAV. The fund strategy seeks total return consisting of income and capital appreciation primarily by investing in a broad range of investment-grade debt securities, including U.S. government obligations, corporate bonds, mortgage-backed securities, asset-backed securities and money market instruments. There are no restrictions on redemptions (which are usually within one business day of notice).

Money market funds are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices in active markets.

Equity securities are valued at the closing price reported on the active market on which the individual securities are traded and, as such, are classified within Level 1 of the fair value hierarchy.

Fixed income securities (government securities, corporate bonds, asset-backed securities, collateralized mortgage-backed securities and municipal bonds) are valued using a bid-evaluation price or a mid-evaluation price. A bid-evaluation price is an estimated price at which a dealer would pay for a security. A mid-evaluation price is the average of the estimated price at which a dealer would sell a security and the estimated price at which a dealer would pay for a security. These evaluations are based on quoted prices, if available, or models that use observable inputs and, as such, are classified within Level 2 of the fair value hierarchy.

FCX’s embedded derivatives on provisional copper concentrate, copper cathode and gold purchases and sales are valued using only quoted monthly LME or COMEX copper forward prices and the London gold forward price at each reporting date based on the month of maturity (refer to Note 6 for further discussion); however, FCX’s contracts themselves are not traded on an exchange. As a result, these derivatives are classified within Level 2 of the fair value hierarchy.

FCX’s embedded derivatives on provisional cobalt purchases, included in assets held for sale, are valued using quoted monthly LME cobalt forward prices or average published Metals Bulletin cobalt prices, subject to certain adjustments as specified by the terms of the contracts, at each reporting date based on the month of maturity (Level 2).

FCX’s derivative financial instruments for copper futures and swap contracts and copper forward contracts that are traded on the respective exchanges are classified within Level 1 of the fair value hierarchy because they are valued using quoted monthly COMEX or LME prices at each reporting date based on the month of maturity (refer to Note 6 for further discussion). Certain of these contracts are traded on the over-the-counter market and are classified within Level 2 of the fair value hierarchy based on COMEX and LME forward prices.

As reported in Note 2 of FCX’s annual report on Form 10-K for the year ended December 31, 2017, in November 2016, FCX’s sale of its interest in TFHL included contingent consideration of up to $120 million in cash, consisting of $60 million if the average copper price exceeds $3.50 per pound and $60 million if the average cobalt price exceeds $20 per pound, both during calendar years 2018 and 2019. Also in 2016, FCX Oil & Gas LLC’s (FM O&G) sale of its onshore California oil and gas properties included contingent consideration of up to $150 million, consisting of $50 million per year for 2018, 2019 and 2020 if the price of Brent crude oil averages over $70 per barrel in each of these calendar years. Future changes in the fair value of the contingent consideration derivative for the sale of TFHL will continue to be recorded in discontinued operations and for the onshore California oil and gas properties will continue to be recorded in operating income. The fair value of the contingent consideration derivative was (i) $65 million at March 31, 2018, and $74 million at December 31, 2017, associated with the sale of TFHL and (ii) $45 million at March 31, 2018, and $34 million at December 31, 2017, associated with the sale of the onshore California oil and gas properties. The contingent consideration derivative was included in other assets in the consolidated balance sheets except for $18 million included in other current assets at March 31, 2018. These fair values were calculated based on average commodity price forecasts through applicable maturity dates using a Monte Carlo simulation model. The models use various observable inputs, including Brent crude oil forward prices, historical copper and cobalt prices, volatilities, discount rates and settlement terms. As a result, these contingent consideration assets are classified within Level 2 of the fair value hierarchy.

As reported in Note 2 of FCX’s annual report on Form 10-K for the year ended December 31, 2017, in December 2016, FM O&G’s sale of its Deepwater GOM oil and gas properties included up to $150 million in contingent consideration that was recorded at the total amount under the loss recovery approach. The contingent consideration will be received over time as future cash flows are realized in connection with a third-party production handling agreement for an offshore platform. The contingent consideration included in (i) other current assets totaled $21 million at March 31, 2018, and $24 million at December 31, 2017, and (ii) other assets totaled $129 million at March 31, 2018, and $126 million at December 31, 2017. The fair value of this contingent consideration was calculated based on a discounted cash flow model using inputs that include third-party estimates for reserves, production rates and production timing, and discount rates. Because significant inputs are not observable in the market, the contingent consideration is classified within Level 3 of the fair value hierarchy.

Long-term debt, including current portion, is valued using available market quotes and, as such, is classified within Level 2 of the fair value hierarchy.

The techniques described above may produce a fair value calculation that may not be indicative of 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 March 31, 2018, as compared to those techniques used at December 31, 2017.

A summary of the changes in the fair value of FCX’s Level 3 instrument, contingent consideration for the sale of the Deepwater GOM oil and gas properties, during the first three months of 2018 follows (in millions):



Fair value at January 1, 2018	$	134
Net unrealized loss related to assets still held at the end of the period	(2		)
Fair value at March 31, 2018	$	132

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Contingencies and Commitments (Unaudited)	3 Months Ended
Contingencies and Commitments (Unaudited)	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	CONTINGENCIES AND COMMITMENTS Litigation During first-quarter 2018, there were no significant updates to previously reported legal proceedings included in Note 12 of FCX’s annual report on Form 10-K for the year ended December 31, 2017, other than the matter below. On April 1, 2016, a purported class action titled David Garcia v. Freeport-McMoRan Oil & Gas LLC was filed in the Superior Court of the State of California for the County of Santa Barbara (Case No. 16CV01305) against FM O&G LLC, an indirect wholly owned subsidiary of FCX. A former FM O&G LLC employee filed the case, which alleges violations of various California employment laws and seeks relief for past wages, overtime, penalties, interest and attorney’s fees. The primary issue underlying the claims is whether compensation must be paid to non-exempt shift workers on platforms located offshore California on the outer-continental shelf for sleep time and other non-working time. In June 2016, FM O&G LLC removed the case to the U.S. District Court for the Central District of California, Santa Barbara (the District Court). In September 2016, the court dismissed the complaint on the grounds that all four FM O&G LLC platforms potentially involved are located in federal waters, that federal law, not state law, applies, and that federal law does not require an employer to compensate for non-work time. In October 2016, the plaintiff appealed the dismissal to the U.S. Court of Appeals for the Ninth Circuit. In June 2017, the Ninth Circuit stayed the Garcia case pending its decision in another case involving essentially the same legal issues, titled Newton v. Parker Drilling Management Services, Ltd. In February 2018, a three-judge panel of the Ninth Circuit ruled in favor of the plaintiffs in the Newton case. Because that decision conflicts with longstanding precedent in the Fifth Circuit and could set a precedent that will result in a reversal of the dismissal in the Garcia case, FM O&G LLC and others filed amicus briefs in April 2018 in support of Parker Drilling’s petition for an en banc rehearing in the Newton case. The Ninth Circuit denied that request on April 27, 2018, but modified its original opinion noting that the question of whether the Ninth Circuit’s holding should be applied retrospectively is reserved for the District Court’s consideration on remand. The amount of the exposure in Garcia is uncertain because FM O&G LLC has potential defenses to the claims even if state law would be applied; however, absent success on those defenses, FCX estimates that the exposure could be in the range of approximately $50 million to $80 million if California wage and hour law is applied retroactively to FM O&G LLC’s operations offshore California. FCX has not established a reserve for this contingency because it believes that its legal position is correct and does not believe a loss is probable. FCX intends to vigorously defend this matter. Tax and Other Matters Cerro Verde Royalty Dispute and Other Peru Tax Matters During first-quarter 2018, there were no significant changes to the Cerro Verde royalty dispute and other Peru tax matters included in Note 12 of FCX’s annual report on Form 10-K for the year ended December 31, 2017. Indonesia Tax Matters The following information includes a discussion of updates to previously reported Indonesia tax matters included in Note 12 of FCX’s annual report on Form 10-K for the year ended December 31, 2017. PT-FI received assessments from the local regional tax authority in Papua, Indonesia, for additional taxes and penalties related to surface water taxes for the period from January 2011 through March 2018. PT-FI has filed or will file appeals of these assessments with the Indonesia Tax Court. During first-quarter 2018, the Indonesia Tax Court ruled partially in favor of PT-FI with respect to assessments for the period January 2016 through April 2016 by reducing these assessments to $13 million, including penalties (based on the exchange rate at March 31, 2018), or an approximate 40 percent reduction. Hearings in the Indonesia Tax Court are currently underway related to assessments for the period from May 2016 through April 2017. During 2017, PT-FI filed petitions to the Indonesia Supreme Court with respect to assessments for the period from January 2011 through December 2015. In April 2018, the Indonesia Supreme Court posted on its website summaries of favorable decisions relating to surface water tax assessments for the period January 2011 through July 2015. PT-FI began receiving the official written decisions on April 18, 2018. The Supreme Court ruling concluded that PT-FI and the Indonesian government are bound by PT-FI’s Contract of Work (COW), which is lex specialis, and prevails as the law for the parties to the COW that should be carried out in good faith. The Supreme Court decisions for the period January 2011 through July 2015 reduce the total remaining exposure for the period from August 2015 through March 2018 to $161 million, including $81 million in penalties. As of March 31, 2018, no charges have been recorded for any assessments because PT-FI believes its COW exempts it from these payments. As of May 4, 2018, PT-FI has not paid and does not intend to pay these assessments. Indonesia Mining Contract. The following is the latest information related to PT-FI’s COW (refer to Note 13 of FCX’s annual report on Form 10-K for the year ended December 31, 2017, for further discussion). In August 2017, FCX and the Indonesian government reached an understanding on a framework that would replace the COW while providing PT-FI with long-term mining rights. This framework includes (i) conversion from the COW to a special license (IUPK) providing PT-FI with long-term mining rights through 2041; (ii) Indonesian government certainty of fiscal and legal terms during the term of the IUPK; (iii) PT-FI commitment to construct a new smelter in Indonesia within five years of reaching a definitive agreement; and (iv) divestment of 51 percent of the project area interests to Indonesian participants at fair market value, structured so that FCX retains control over operations and governance of PT-FI. Execution of a definitive agreement will require approval by the Board and PT-FI’s joint venture partner, Rio Tinto, as well as the modification or revocation of current regulations and the implementation of new regulations by the Indonesian government. FCX cannot currently predict whether there will be any material accounting and tax impacts associated with the divestment. In late 2017, the Indonesian government (including the regional government of Papua Province and Mimika Regency) and PT Indonesia Asahan Aluminium (Inalum), a state-owned enterprise, which leads the Indonesian government’s consortium of investors, formed a special purpose company to acquire Grasberg project area interests. Inalum is wholly owned by the Indonesian government and currently holds 9.36 percent of PT-FI’s outstanding common stock. FCX continues to engage with Inalum and Rio Tinto on potential arrangements that would result in the Inalum consortium acquiring interests that would meet the Indonesian government’s 51 percent ownership objective in a manner satisfactory to all parties, and in a structure that would provide for continuity of FCX’s management of PT-FI’s operations and governance of the business. The parties continue to negotiate documentation on a comprehensive agreement for PT-FI’s extended operations and to reach agreement on timing, process and governance matters relating to the divestment. The parties have a mutual objective of completing negotiations and the required documentation as soon as possible. In October 2017, Indonesia’s Ministry of Environment and Forestry (the Ministry) notified PT-FI of administrative sanctions related to certain activities the Ministry indicated are not reflected in PT-FI’s environmental permit. The Ministry also notified PT-FI that certain operational activities were inconsistent with factors set forth in PT-FI’s environmental permitting studies and that additional monitoring and improvements need to be undertaken related to air quality, water drainage, treatment and handling of certain wastes, and tailings management. PT-FI has been engaged in a process to update its permits through submissions and dialogue with the Ministry that began in late 2014, and PT-FI believes that it has submitted the required documentation to update such permits. In April 2018, the Ministry issued decrees imposing unattainable environmental standards related to PT-FI’s controlled riverine tailings management system. The decrees include a six-month transition period and conflict with PT-FI’s approved environmental management programs and existing environmental permits. PT-FI is engaged in discussions with the Ministry regarding these actions, which PT-FI believes are contrary to the Indonesian government’s obligations under PT-FI’s COW. Resolution of these matters is a requirement for concluding a comprehensive agreement for PT-FI’s extended operations. In December 2017, the Indonesian government extended PT-FI’s temporary IUPK to June 30, 2018, to enable normal operations to continue during the negotiation period. In February 2018, PT-FI’s export license was extended to February 15, 2019. On February 28, 2018, PT Smelting (PT-FI’s 25-percent-owned smelter and refinery in Indonesia) received an extension of its anode slimes export license through February 26, 2019. Until a definitive agreement is reached, PT-FI has reserved all rights under its COW, including dispute resolution procedures. FCX cannot predict whether PT-FI will be successful in reaching a satisfactory agreement on the terms of its long-term mining rights. If PT-FI is unable to reach a definitive agreement with the Indonesian government on its long-term mining rights, FCX intends to reduce or defer investments significantly in its underground development projects and will pursue dispute resolution procedures under the COW.

BUSINESS SEGMENTS

3 Months Ended

Mar. 31, 2018

Segment Reporting [Abstract]

Business Segment

BUSINESS SEGMENTS

FCX has organized its mining operations into four primary divisions – North America copper mines, South America mining, Indonesia mining and Molybdenum mines, and operating segments that meet certain thresholds are reportable segments. Separately disclosed in the following tables are FCX’s reportable segments, which include the Morenci, Cerro Verde and Grasberg (Indonesia Mining) copper mines, the Rod & Refining operations and Atlantic Copper Smelting & Refining.

Intersegment sales between FCX’s business segments are based on terms similar to arms-length transactions with third parties at the time of the sale. Intersegment sales may not be reflective of the actual prices ultimately realized because of a variety of factors, including additional processing, timing of sales to unaffiliated customers and transportation premiums.

FCX defers recognizing profits on sales from its mines to other divisions, including Atlantic Copper (FCX’s wholly owned smelter and refinery in Spain) and on 25 percent of PT-FI’s sales to PT Smelting, until final sales to third parties occur. Quarterly variations in ore grades, the timing of intercompany shipments and changes in product prices result in variability in FCX’s net deferred profits and quarterly earnings.

FCX allocates certain operating costs, expenses and capital expenditures to its operating divisions and individual segments. However, not all costs and expenses applicable to an operation are allocated. U.S. federal and state income taxes are recorded and managed at the corporate level (included in Corporate, Other & Eliminations), whereas foreign income taxes are recorded and managed at the applicable country level. In addition, most mining exploration and research activities are managed on a consolidated basis, and those costs, along with some selling, general and administrative costs, are not allocated to the operating divisions or individual segments. Accordingly, the following segment information reflects management determinations that may not be indicative of what the actual financial performance of each operating division or segment would be if it was an independent entity.

Product Revenues. FCX’s revenues attributable to the products it produced for the first quarters of 2018 and 2017 follow (in millions):



	Three Months Ended
	March 31,
	2018			2017
Copper:
Concentrate	$	1,647		$	981
Cathode	1,423			1,041
Rod and other refined copper products	670			624
Gold	808			268
Molybdenum	286			209
Other^a	398			231
Adjustments to revenue:
Treatment charges	(132		)	(103		)
Royalty expense^b	(69		)	(22		)
Export duties^c	(46		)	(14		)
Revenue from contracts with customers	4,985			3,215
Embedded derivatives^d	(117		)	126
Total consolidated revenues	$	4,868		$	3,341


a.	Primarily includes revenues associated with cobalt, silver, oil, gas and natural gas liquids.


b.	Reflects royalties for sales from PT-FI and Cerro Verde that will vary with the volume of metal sold and the prices of copper and gold.


c.	Reflects export duties paid by PT-FI.


d.	Refer to Note 6 for discussion of embedded derivatives related to FCX’s provisionally priced concentrate and cathode sales contracts.

Financial Information by Business Segment




(In millions)

																					Atlantic		Corporate,
	North America Copper Mines						South America Mining														Copper		Other
							Cerro						Indonesia			Molybdenum			Rod &		Smelting		& Elimi-				FCX
	Morenci		Other		Total		Verde		Other		Total		Mining			Mines			Refining		& Refining		nations^a				Total
Three Months Ended March 31, 2018
Revenues:
Unaffiliated customers	$	3	$	15	$	18	$	625	$	150	$	775	$	1,521	^b	$	—		$	1,385	$	577	$	592		^c	$	4,868
Intersegment	601		689		1,290		102		—		102		52			95			8		2		(1,549		)		—
Production and delivery	290		501		791		427		116		543		457			67			1,388		556		(994		)		2,808
Depreciation, depletion and amortization	46		48		94		105		22		127		181			19			2		7		21				451
Selling, general and administrative expenses	1		2		3		2		—		2		39			—			—		6		81				131
Mining exploration and research expenses	—		1		1		—		—		—		—			—			—		—		20				21
Environmental obligations and shutdown costs	—		—		—		—		—		—		—			—			—		—		9				9
Net gain on sales of assets	—		—		—		—		—		—		—			—			—		—		(11		)		(11		)
Operating income (loss)	267		152		419		193		12		205		896			9			3		10		(83		)		1,459

Interest expense, net	1		—		1		17		—		17		—			—			—		5		128				151
Provision for income taxes	—		—		—		68		4		72		401			—			—		1		32				506
Total assets at March 31, 2018	2,817		4,340		7,157		8,740		1,715		10,455		10,992			1,836			290		809		5,098			^d	36,637
Capital expenditures	47		45		92		63		4		67		203			1			1		4		34				402

Three Months Ended March 31, 2017
Revenues:
Unaffiliated customers	$	66	$	50	$	116	$	640	$	112	$	752	$	534	^b	$	—		$	1,107	$	458	$	374		^c	$	3,341
Intersegment	416		563		979		116		—		116		—			63			8		—		(1,166		)		—
Production and delivery	257		409		666		391		82		473		270			52			1,109		436		(818		)		2,188			^e
Depreciation, depletion and amortization	47		69		116		112		21		133		83			19			2		7		29				389
Selling, general and administrative expenses	—		1		1		2		—		2		30			—			—		5		113				151
Mining exploration and research expenses	—		1		1		—		—		—		—			—			—		—		13				14
Environmental obligations and shutdown costs	—		—		—		—		—		—		—			—			—		—		25				25
Net gain on sales of assets	—		—		—		—		—		—		—			—			—		—		(23		)		(23		)
Operating income (loss)	178		133		311		251		9		260		151			(8		)	4		10		(131		)		597

Interest expense, net	1		—		1		16		—		16		—			—			—		4		146				167
Provision for income taxes	—		—		—		98		3		101		67			—			—		1		5				174
Total assets at March 31, 2017	2,814		4,361		7,175		9,081		1,525		10,606		10,418			1,917			261		652		5,547			^d	36,576
Capital expenditures	23		5		28		14		1		15		244			1			1		8		47				344


a.	Includes U.S. oil and gas operations.


b.	Includes PT-FI’s sales to PT Smelting totaling $628 million in first-quarter 2018 and $258 million in first-quarter 2017.


c.	Includes revenues from FCX’s molybdenum sales company, which includes sales of molybdenum produced by the Molybdenum mines and by certain of the North America and South America copper mines.


d.	Includes assets held for sale totaling $708 million at March 31, 2018, and $408 million at March 31, 2017, primarily associated with Freeport Cobalt and the Kisanfu exploration project.


e.	Includes a decrease of $12 million for the new guidance for the presentation of net periodic benefit cost for pension and other postretirement benefit plans (refer to Note 11 for further discussion).

Guarantor Financial Statements (Unaudited) Guarantor Financial Statements (Notes)

3 Months Ended

Mar. 31, 2018

Guarantor Financial Statements [Abstract]

Guarantor Financial Statements [Text Block]

GUARANTOR FINANCIAL STATEMENTS

All of the senior notes issued by FCX are fully and unconditionally guaranteed on a senior basis jointly and severally by FM O&G LLC, as guarantor, which is a 100-percent-owned subsidiary of FM O&G and FCX. The guarantee is an unsecured obligation of the guarantor and ranks equal in right of payment with all existing and future indebtedness of FM O&G LLC, including indebtedness under FCX’s revolving credit facility. The guarantee ranks senior in right of payment with all of FM O&G LLC’s future subordinated obligations and is effectively subordinated in right of payment to any debt of FM O&G LLC’s subsidiaries. The indentures provide that FM O&G LLC’s guarantee may be released or terminated for certain obligations under the following circumstances: (i) all or substantially all of the equity interests or assets of FM O&G LLC are sold to a third party; or (ii) FM O&G LLC no longer has any obligations under any FM O&G senior notes or any refinancing thereof and no longer guarantees any obligations of FCX under the revolving credit facility or any other senior debt or, in each case, any refinancing thereof.

The following condensed consolidating financial information includes information regarding FCX, as issuer, FM O&G LLC, as guarantor, and all other non-guarantor subsidiaries of FCX. Included are the condensed consolidating balance sheets at March 31, 2018, and December 31, 2017, and the related condensed consolidating statements of comprehensive income (loss), and the condensed consolidating statements of cash flows for the three months ended March 31, 2018 and 2017 (in millions), which should be read in conjunction with FCX’s notes to the consolidated financial statements.

CONDENSED CONSOLIDATING BALANCE SHEET

March 31, 2018



	FCX			FM O&G LLC			Non-guarantor					Consolidated
	Issuer			Guarantor			Subsidiaries		Eliminations			FCX
ASSETS
Current assets	$	544		$	714		$	10,012	$	(1,164	)	$	10,106
Property, plant, equipment and mine development costs, net	14			7			22,780		(9		)	22,792
Investments in consolidated subsidiaries	18,668			—			—		(18,668		)	—
Other assets	561			34			3,255		(111		)	3,739
Total assets	$	19,787		$	755		$	36,047	$	(19,952	)	$	36,637

LIABILITIES AND EQUITY
Current liabilities	$	621		$	117		$	4,831	$	(1,225	)	$	4,344
Long-term debt, less current portion	9,594			6,574			5,013		(10,058		)	11,123
Deferred income taxes	745		^a	—			2,897		—			3,642
Environmental and asset retirement obligations, less current portion	—			203			3,427		—			3,630
Investments in consolidated subsidiaries	—			860			10,338		(11,198		)	—
Other liabilities	171			3,339			1,948		(3,486		)	1,972
Total liabilities	11,131			11,093			28,454		(25,967		)	24,711

Equity:
Stockholders’ equity	8,656			(10,338		)	4,901		5,437			8,656
Noncontrolling interests	—			—			2,692		578			3,270
Total equity	8,656			(10,338		)	7,593		6,015			11,926
Total liabilities and equity	$	19,787		$	755		$	36,047	$	(19,952	)	$	36,637


a.	All U.S.-related deferred income taxes are recorded at the parent company.

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2017



	FCX			FM O&G LLC			Non-guarantor					Consolidated
	Issuer			Guarantor			Subsidiaries		Eliminations			FCX
ASSETS
Current assets	$	75		$	671		$	10,823	$	(790	)	$	10,779
Property, plant, equipment and mine development costs, net	14			11			22,829		(10		)	22,844
Investments in consolidated subsidiaries	19,570			—			—		(19,570		)	—
Other assets	943			48			3,179		(491		)	3,679
Total assets	$	20,602		$	730		$	36,831	$	(20,861	)	$	37,302

LIABILITIES AND EQUITY
Current liabilities	$	1,683		$	220		$	4,073	$	(938	)	$	5,038
Long-term debt, less current portion	10,021			6,512			5,440		(10,270		)	11,703
Deferred income taxes	748		^a	—			2,874		—			3,622
Environmental and asset retirement obligations, less current portion	—			201			3,430		—			3,631
Investments in consolidated subsidiary	—			853			10,397		(11,250		)	—
Other liabilities	173			3,340			1,987		(3,488		)	2,012
Total liabilities	12,625			11,126			28,201		(25,946		)	26,006

Equity:
Stockholders’ equity	7,977			(10,396		)	5,916		4,480			7,977
Noncontrolling interests	—			—			2,714		605			3,319
Total equity	7,977			(10,396		)	8,630		5,085			11,296
Total liabilities and equity	$	20,602		$	730		$	36,831	$	(20,861	)	$	37,302


a.	All U.S.-related deferred income taxes are recorded at the parent company.

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)



Three Months Ended March 31, 2018
	FCX			FM O&G LLC			Non-guarantor						Consolidated
	Issuer			Guarantor			Subsidiaries			Eliminations			FCX
Revenues	$	—		$	15		$	4,853		$	—		$	4,868
Total costs and expenses	9			8			3,393			(1		)	3,409
Operating (loss) income	(9		)	7			1,460			1			1,459
Interest expense, net	(104		)	(64		)	(85		)	102			(151		)
Other income (expense), net	101			—			29			(102		)	28
(Loss) income before income taxes and equity in affiliated companies’ net earnings (losses)	(12		)	(57		)	1,404			1			1,336
(Provision for) benefit from income taxes	(83		)	12			(435		)	—			(506		)
Equity in affiliated companies’ net earnings (losses)	787			(6		)	(34		)	(749		)	(2		)
Net income (loss) from continuing operations	692			(51		)	935			(748		)	828
Net loss from discontinued operations	—			—			(11		)	—			(11		)
Net income (loss)	692			(51		)	924			(748		)	817
Net income attributable to noncontrolling interests:
Continuing operations	—			—			(71		)	(54		)	(125		)
Net income (loss) attributable to common stockholders	$	692		$	(51	)	$	853		$	(802	)	$	692

Other comprehensive income (loss)	12			—			12			(12		)	12
Total comprehensive income (loss)	$	704		$	(51	)	$	865		$	(814	)	$	704



Three Months Ended March 31, 2017
	FCX			FM O&G LLC			Non-guarantor						Consolidated
	Issuer			Guarantor			Subsidiaries			Eliminations			FCX
Revenues	$	—		$	13		$	3,328		$	—		$	3,341
Total costs and expenses	8			50			2,684			2			2,744
Operating (loss) income	(8		)	(37		)	644			(2		)	597
Interest expense, net	(122		)	(53		)	(71		)	79			(167		)
Other income (expense), net	78			—			9			(79		)	8
(Loss) income before income taxes and equity in affiliated companies’ net earnings (losses)	(52		)	(90		)	582			(2		)	438
(Provision for) benefit from income taxes	(60		)	31			(146		)	1			(174		)
Equity in affiliated companies’ net earnings (losses)	340			20			(36		)	(320		)	4
Net income (loss) from continuing operations	228			(39		)	400			(321		)	268
Net income from discontinued operations	—			—			38			—			38
Net income (loss)	228			(39		)	438			(321		)	306
Net income attributable to noncontrolling interests:
Continuing operations	—			—			(65		)	(10		)	(75		)
Discontinued operations	—			—			(3		)	—			(3		)
Net income (loss) attributable to common stockholders	$	228		$	(39	)	$	370		$	(331	)	$	228

Other comprehensive income (loss)	11			—			11			(11		)	11
Total comprehensive income (loss)	$	239		$	(39	)	$	381		$	(342	)	$	239

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS



Three Months Ended March 31, 2018
	FCX			FM O&G LLC			Non-guarantor						Consolidated
	Issuer			Guarantor			Subsidiaries			Eliminations			FCX
Net cash (used in) provided by operating activities	$	(156	)	$	(70	)	$	1,595		$	—		$	1,369

Cash flow from investing activities:
Capital expenditures	—			—			(402		)	—			(402		)
Intercompany loans	(184		)	—			—			184			—
Dividends from (investments in) consolidated subsidiaries	1,746			—			23			(1,769		)	—
Asset sales and other, net	—			—			(90		)	—			(90		)
Net cash provided by (used in) investing activities	1,562			—			(469		)	(1,585		)	(492		)

Cash flow from financing activities:
Proceeds from debt	—			—			122			—			122
Repayments of debt	(1,409		)	—			(224		)	—			(1,633		)
Intercompany loans	—			62			122			(184		)	—
Cash dividends paid and contributions received, net	—			—			(1,835		)	1,755			(80		)
Other, net	3			—			(14		)	14			3
Net cash (used in) provided by financing activities	(1,406		)	62			(1,829		)	1,585			(1,588		)

Net decrease in cash, cash equivalents, restricted cash and restricted cash equivalents	—			(8		)	(703		)	—			(711		)
Decrease in cash and cash equivalents in assets held for sale	—			—			32			—			32
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year	—			8			4,623			—			4,631
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	$	—		$	—		$	3,952		$	—		$	3,952



Three Months Ended March 31, 2017
	FCX			FM O&G LLC			Non-guarantor						Consolidated
	Issuer			Guarantor			Subsidiaries			Eliminations			FCX
Net cash (used in) provided by operating activities	$	(112	)	$	(200	)	$	1,104		$	—		$	792

Cash flow from investing activities:
Capital expenditures	—			(10		)	(334		)	—			(344		)
Intercompany loans	(277		)	—			—			277			—
Dividends from (investments in) consolidated subsidiaries	894			—			26			(920		)	—
Asset sales and other, net	—			(23		)	6			—			(17		)
Net cash provided by (used in) investing activities	617			(33		)	(302		)	(643		)	(361		)

Cash flow from financing activities:
Proceeds from debt	—			—			157			—			157
Repayments of debt	(499		)	—			(316		)	—			(815		)
Intercompany loans	—			236			41			(277		)	—
Cash dividends paid and contributions received, net	(1		)	—			(895		)	880			(16		)
Other, net	(5		)	(6		)	(34		)	40			(5		)
Net cash (used in) provided by financing activities	(505		)	230			(1,047		)	643			(679		)

Net decrease in cash, cash equivalents, restricted cash and restricted cash equivalents	—			(3		)	(245		)	—			(248		)
Decrease in cash and cash equivalents in assets held for sale	—			—			8			—			8
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year	—			11			4,392			—			4,403
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	$	—		$	8		$	4,155		$	—		$	4,163

New Accounting Standard (Unaudited)

3 Months Ended

Mar. 31, 2018

New Accounting Pronouncements and Changes in Accounting Principles [Abstract]

New Accounting Pronouncements and Changes in Accounting Principles [Text Block]

NEW ACCOUNTING STANDARDS

Revenue Recognition. In May 2014, the Financial Accounting Standards Board (FASB) issued a new Accounting Standards Update (ASU) related to revenue recognition. FCX adopted this standard effective January 1, 2018, under the modified retrospective approach applied to contracts that remain in force at the adoption date. The adoption of this standard did not result in any financial statement impacts or changes to FCX’s revenue recognition policies or processes as revenue is primarily derived from arrangements in which the transfer of control coincides with the fulfillment of performance obligations (refer to Note 1 of FCX’s annual report on Form 10-K for disclosure of FCX’s revenue recognition policy). In connection with the adoption of the standard and consistent with FCX’s policy prior to adoption of the standard, FCX has elected to account for shipping and handling activities performed after control of goods has been transferred to a customer as a fulfillment cost recorded in production and delivery costs on the consolidated statements of income.

FCX recognizes revenue for all of its products upon transfer of control in an amount that reflects the consideration it expects to receive in exchange for those products. Transfer of control is in accordance with the terms of customer contracts, which is generally upon shipment or delivery of the product. While payment terms vary by contract, terms generally include payment to be made within 30 days, but not longer than 60 days. Certain of FCX’s concentrate and cathode sales contracts also provide for provisional pricing, which is accounted for as an embedded derivative (refer to Note 6 for further discussion). For provisionally priced sales, 90 percent to 100 percent of the provisional payment is made upon shipment or within 20 days, and final balances are settled in a contractually specified future month (generally one to four months from the shipment date) based on quoted monthly average spot copper prices on the LME or COMEX and the London gold price. FCX’s product revenues are also recorded net of treatment charges, royalties and export duties. Refer to Note 9 for a summary of revenue by product type.

Financial Instruments. In January 2016, FASB issued an ASU that amends the guidance on the classification and measurement of financial instruments. This ASU makes limited changes to prior guidance and amends certain disclosure requirements. FCX adopted this ASU effective January 1, 2018, and adoption did not have a material impact on its financial statements.

Statement of Cash Flows: Restricted Cash. In November 2016, FASB issued an ASU that changes the classification and presentation of restricted cash and restricted cash equivalents on the statement of cash flows. The ASU requires that a statement of cash flows include the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. FCX adopted this ASU effective January 1, 2018, and adjusted its consolidated statement of cash flows for the three months ended March 31, 2017, to include restricted cash and restricted cash equivalents with cash and cash equivalents. The impact of adopting this ASU for the three months ended March 31, 2017, follows (in millions):



	Previously Reported			Impact of Adoption		Current Presentation
Other, net included in cash flow from investing activities	$	(21	)	$	4	$	(17	)
Cash flow from investing activities	(365		)	4		(361		)
Net decrease in cash, cash equivalents, restricted cash and restricted cash equivalents	(252		)	4		(248		)
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year	4,245			158		4,403
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	4,001			162		4,163

Net Periodic Pension and Postretirement Benefit Cost. In March 2017, FASB issued an ASU that changes how entities with defined benefit pension or other postretirement benefit plans present net periodic benefit cost in the income statement. This ASU requires the service cost component of net periodic benefit cost to be presented in the same income statement line item or items as other compensation costs for those employees who are receiving the benefit. In addition, only the service cost component is eligible for capitalization when applicable (i.e., as a cost of inventory or an internally constructed asset). The other components of net periodic benefit cost are required to be presented separately from the service cost component and outside of operating income. These other components of net periodic benefit cost are not eligible for capitalization, and FCX elected to include these other components in other income, net. FCX adopted this ASU effective January 1, 2018, and adjusted its presentation in the consolidated statement of income for the three months ended March 31, 2017, to conform with the new guidance. The impact of adopting this ASU for the three months ended March 31, 2017, follows (in millions):



	Previously Reported		Impact of Adoption			Current Presentation
Production and delivery	$	2,200	$	(12	)	$	2,188
Total cost of sales	2,589		(12		)	2,577
Selling, general and administrative expenses	153		(2		)	151
Mining exploration and research expenses	15		(1		)	14
Environmental obligations and shutdown costs	27		(2		)	25
Total costs and expenses	2,761		(17		)	2,744
Operating income	580		17			597
Other income, net	25		(17		)	8

Subsequent Events (Unaudited)	3 Months Ended
Subsequent Events (Unaudited)	Mar. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS FCX evaluated events after March 31, 2018, and through the date the consolidated financial statements were issued, and determined any events or transactions occurring during this period that would require recognition or disclosure are appropriately addressed in these consolidated financial statements.

New Accounting Standard (Unaudited) (Policies)	3 Months Ended
New Accounting Standard (Unaudited) (Policies)	Mar. 31, 2018
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition. In May 2014, the Financial Accounting Standards Board (FASB) issued a new Accounting Standards Update (ASU) related to revenue recognition. FCX adopted this standard effective January 1, 2018, under the modified retrospective approach applied to contracts that remain in force at the adoption date. The adoption of this standard did not result in any financial statement impacts or changes to FCX’s revenue recognition policies or processes as revenue is primarily derived from arrangements in which the transfer of control coincides with the fulfillment of performance obligations (refer to Note 1 of FCX’s annual report on Form 10-K for disclosure of FCX’s revenue recognition policy). In connection with the adoption of the standard and consistent with FCX’s policy prior to adoption of the standard, FCX has elected to account for shipping and handling activities performed after control of goods has been transferred to a customer as a fulfillment cost recorded in production and delivery costs on the consolidated statements of income. FCX recognizes revenue for all of its products upon transfer of control in an amount that reflects the consideration it expects to receive in exchange for those products. Transfer of control is in accordance with the terms of customer contracts, which is generally upon shipment or delivery of the product. While payment terms vary by contract, terms generally include payment to be made within 30 days, but not longer than 60 days. Certain of FCX’s concentrate and cathode sales contracts also provide for provisional pricing, which is accounted for as an embedded derivative (refer to Note 6 for further discussion). For provisionally priced sales, 90 percent to 100 percent of the provisional payment is made upon shipment or within 20 days, and final balances are settled in a contractually specified future month (generally one to four months from the shipment date) based on quoted monthly average spot copper prices on the LME or COMEX and the London gold price. FCX’s product revenues are also recorded net of treatment charges, royalties and export duties. Refer to Note 9 for a summary of revenue by product type.

Earnings per Share (Unaudited) Earnings per Share (Tables)

3 Months Ended

Mar. 31, 2018

Earnings Per Share [Abstract]

Reconciliation of net income (loss) and weighted-average shares of common stock outstanding

Reconciliations of net income and weighted-average shares of common stock outstanding for purposes of calculating basic and diluted net income per share follow (in millions, except per share amounts):



	Three Months Ended
	March 31,
	2018				2017
Net income from continuing operations	$	828			$	268
Net income from continuing operations attributable to noncontrolling interests	(125		)		(75		)
Undistributed earnings allocated to participating securities	(4		)		(3		)
Net income from continuing operations attributable to common stockholders	$	699			$	190

Net (loss) income from discontinued operations	$	(11	)		$	38
Net income from discontinued operations attributable to noncontrolling interests	—				(3		)
Net (loss) income from discontinued operations attributable to common stockholders	$	(11	)		$	35


Net income attributable to common stockholders	$	688			$	225


Basic weighted-average shares of common stock outstanding	1,449				1,446
Add shares issuable upon exercise or vesting of dilutive stock options and restricted stock units	9			^a	8
Diluted weighted-average shares of common stock outstanding	1,458				1,454

Basic and diluted net income (loss) per share attributable to common stockholders:
Continuing operations	$	0.48			$	0.13
Discontinued operations	(0.01		)		0.03
	$	0.47			$	0.16


a.	Excludes approximately 4 million shares of common stock associated with outstanding stock options with exercise prices less than the average market price of FCX’s common stock that were anti-dilutive.

Inventories, Including Long-Term Mill and Leach Stockpiles (Unaudited) (Tables)

3 Months Ended

Mar. 31, 2018

Inventory Disclosure [Abstract]

Schedule of Inventory [Table Text Block]

The components of inventories follow (in millions):



	March 31, 2018		December 31, 2017
Current inventories:
Total materials and supplies, net^a	$	1,335	$	1,305

Mill stockpiles	$	330	$	360
Leach stockpiles	1,118		1,062
Total current mill and leach stockpiles	$	1,448	$	1,422

Raw materials (primarily concentrate)	$	284	$	265
Work-in-process	138		154
Finished goods	680		747
Total product inventories	$	1,102	$	1,166

Long-term inventories:
Mill stockpiles	$	308	$	300
Leach stockpiles	1,079		1,109
Total long-term mill and leach stockpiles	$	1,387	$	1,409


a.	Materials and supplies inventory was net of obsolescence reserves totaling $25 million at March 31, 2018, and $29 million at December 31, 2017.

Income Taxes (Unaudited) (Tables)

3 Months Ended

Mar. 31, 2018

Income Tax Disclosure [Abstract]

Income before income taxes and equity in an affiliated companies' net earnings

Geographic sources of FCX’s (provision for) benefit from income taxes follow (in millions):



	Three Months Ended
	March 31,
	2018			2017
U.S. operations	$	3		$	(7	)
International operations	(509		)	(167		)
Total	$	(506	)	$	(174	)

Debt (Tables)

3 Months Ended

Mar. 31, 2018

Debt Instrument, Redemption [Line Items]

Schedule of Debt [Table Text Block]

DEBT AND EQUITY

The components of debt follow (in millions):



	March 31, 2018			December 31, 2017
Senior notes and debentures:
Issued by FCX	$	10,020		$	11,429
Issued by Freeport Minerals Corporation	358			358
Issued by Freeport-McMoRan Oil & Gas LLC (FM O&G LLC)	54			54
Cerro Verde credit facility	1,170			1,269
Other	4			7
Total debt^a	11,606			13,117
Less current portion of debt	(483		)	(1,414		)
Long-term debt	$	11,123		$	11,703


a.	Includes additions for unamortized fair value adjustments totaling $93 million at March 31, 2018 ($97 million at December 31, 2017), and is net of reductions for unamortized net discounts and unamortized debt issuance costs totaling $81 million at March 31, 2018 ($85 million at December 31, 2017).

Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Unrealized gains (losses) for derivative financial instruments that are designated and qualify as fair value hedge transactions and for the related hedged item

A summary of (losses) gains recognized in revenues for derivative financial instruments related to commodity contracts that are designated and qualify as fair value hedge transactions, along with the unrealized (losses) gains on the related hedged item follows (in millions):



	Three Months Ended
	March 31,
	2018			2017
Copper futures and swap contracts:
Unrealized (losses) gains:
Derivative financial instruments	$	(15	)	$	(2	)
Hedged item – firm sales commitments	15			2

Realized gains:
Matured derivative financial instruments	2			8

Schedule of Derivative Instruments

A summary of FCX’s embedded derivatives at March 31, 2018, follows:



	Open Positions	Average Price Per Unit				Maturities Through
	Open Positions	Contract		Market		Maturities Through
Embedded derivatives in provisional sales contracts:
Copper (millions of pounds)	518	$	3.13	$	3.04	August 2018
Gold (thousands of ounces)	311	1,325		1,327		July 2018
Embedded derivatives in provisional purchase contracts:
Copper (millions of pounds)	104	3.13		3.04		July 2018
Cobalt (millions of pounds)^a	8	30.19		33.88		June 2018

Realized and unrealized gains (losses) for derivative financial instruments that do not qualify as hedge transactions

A summary of the realized and unrealized (losses) gains recognized in operating income for commodity contracts that do not qualify as hedge transactions, including embedded derivatives, follows (in millions):



	Three Months Ended
	March 31,
	2018			2017
Embedded derivatives in provisional sales contracts:^a
Copper	$	(135	)	$	107
Gold and other metals	18			19
Copper forward contracts^b	2			(1		)


a.	Amounts recorded in revenues.


b.	Amounts recorded in cost of sales as production and delivery costs.

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

A summary of the fair values of unsettled commodity derivative financial instruments follows (in millions):



	March 31, 2018		December 31, 2017
Commodity Derivative Assets:
Derivatives designated as hedging instruments:
Copper futures and swap contracts	$	2	$	11
Derivatives not designated as hedging instruments:
Embedded derivatives in provisional copper and gold
sales/purchase contracts	11		155
Copper forward contracts	—		1
Total derivative assets	$	13	$	167

Commodity Derivative Liabilities:
Derivatives designated as hedging instruments:
Copper futures and swap contracts	$	5	$	—
Derivatives not designated as hedging instruments:
Embedded derivatives in provisional copper and gold
sales/purchase contracts	48		31
Copper forward contracts	—		2
Total derivative liabilities	$	53	$	33

Offsetting Assets

A summary of these unsettled commodity contracts that are offset in the balance sheets follows (in millions):



	Assets				Liabilities
	March 31, 2018		December 31, 2017		March 31, 2018		December 31, 2017

Gross amounts recognized:
Commodity contracts:
Embedded derivatives in provisional
sales/purchase contracts	$	11	$	155	$	48	$	31
Copper derivatives	2		12		5		2
	13		167		53		33

Less gross amounts of offset:
Commodity contracts:
Embedded derivatives in provisional
sales/purchase contracts	1		—		1		—
Copper derivatives	—		1		—		1
	1		1		1		1

Net amounts presented in balance sheet:
Commodity contracts:
Embedded derivatives in provisional
sales/purchase contracts	10		155		47		31
Copper derivatives	2		11		5		1
	$	12	$	166	$	52	$	32

Balance sheet classification:
Trade accounts receivable	$	—	$	151	$	41	$	—
Other current assets	2		11		—		—
Accounts payable and accrued liabilities	10		4		11		32
	$	12	$	166	$	52	$	32

Offsetting Liabilities

A summary of these unsettled commodity contracts that are offset in the balance sheets follows (in millions):



	Assets				Liabilities
	March 31, 2018		December 31, 2017		March 31, 2018		December 31, 2017

Gross amounts recognized:
Commodity contracts:
Embedded derivatives in provisional
sales/purchase contracts	$	11	$	155	$	48	$	31
Copper derivatives	2		12		5		2
	13		167		53		33

Less gross amounts of offset:
Commodity contracts:
Embedded derivatives in provisional
sales/purchase contracts	1		—		1		—
Copper derivatives	—		1		—		1
	1		1		1		1

Net amounts presented in balance sheet:
Commodity contracts:
Embedded derivatives in provisional
sales/purchase contracts	10		155		47		31
Copper derivatives	2		11		5		1
	$	12	$	166	$	52	$	32

Balance sheet classification:
Trade accounts receivable	$	—	$	151	$	41	$	—
Other current assets	2		11		—		—
Accounts payable and accrued liabilities	10		4		11		32
	$	12	$	166	$	52	$	32

Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]

The following table provides a reconciliation of total cash, cash equivalents, restricted cash and restricted cash equivalents presented in the consolidated statements of cash flows to the components presented in the consolidated balance sheets (in millions):



	March 31, 2018		December 31, 2017
Balance sheet components:
Cash and cash equivalents	$	3,702	$	4,447
Restricted cash and restricted cash equivalents included in:
Other current assets	123		52
Other assets	127		132
Total cash, cash equivalents, restricted cash and restricted cash equivalents presented in the consolidated statements of cash flows	$	3,952	$	4,631

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=84234895&loc=d3e41641-113959

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624163-113959

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=84234895&loc=d3e41678-113959

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=84234895&loc=d3e41638-113959

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5580258-113959

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5579245-113959

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624171-113959

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5579240-113959

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84234895&loc=d3e41620-113959

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(n)(2))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

+ Details

FAIR VALUE MEASUREMENT (Tables)

3 Months Ended

Mar. 31, 2018

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, accounts receivable, restricted cash, restricted cash equivalents, and accounts payable and accrued liabilities (refer to Note 6) follows (in millions):



	At March 31, 2018
	Carrying		Fair Value
	Amount		Total		NAV		Level 1		Level 2		Level 3
Assets
Investment securities:^a,b
U.S. core fixed income fund	$	25	$	25	$	25	$	—	$	—	$	—
Equity securities	5		5		—		5		—		—
Total	30		30		25		5		—		—

Legally restricted funds:^a
U.S. core fixed income fund	54		54		54		—		—		—
Government bonds and notes	42		42		—		—		42		—
Corporate bonds	29		29		—		—		29		—
Government mortgage-backed securities	25		25		—		—		25		—
Asset-backed securities	13		13		—		—		13		—
Money market funds	8		8		—		8		—		—
Collateralized mortgage-backed securities	7		7		—		—		7		—
Municipal bonds	1		1		—		—		1		—
Total	179		179		54		8		117		—

Derivatives:
Embedded derivatives in provisional sales/
purchase contracts in a gross asset position^c	11		11		—		—		11		—
Copper futures and swap contracts^c	2		2		—		1		1		—
Contingent consideration for the sales of
TF Holdings Limited (TFHL) and onshore
California oil and gas properties^a	110		110		—		—		110		—
Total	123		123		—		1		122		—

Contingent consideration for the sale of the
Deepwater GOM oil and gas properties^a	150		132		—		—		—		132

Liabilities
Derivatives:^c
Embedded derivatives in provisional sales/
purchase contracts in a gross liability position^d	$	48	$	48	$	—	$	—	$	48	$	—
Copper futures and swap contracts	5		5		—		4		1		—
Total	53		53		—		4		49		—

Long-term debt, including current portion^e	11,606		11,406		—		—		11,406		—



	At December 31, 2017
	Carrying		Fair Value
	Amount		Total		NAV		Level 1		Level 2		Level 3
Assets
Investment securities:^a,b
U.S. core fixed income fund	$	25	$	25	$	25	$	—	$	—	$	—
Equity securities	5		5		—		5		—		—
Total	30		30		25		5		—		—

Legally restricted funds:^a
U.S. core fixed income fund	55		55		55		—		—		—
Government bonds and notes	40		40		—		—		40		—
Corporate bonds	32		32		—		—		32		—
Government mortgage-backed securities	27		27		—		—		27		—
Asset-backed securities	15		15		—		—		15		—
Money market funds	11		11		—		11		—		—
Collateralized mortgage-backed securities	8		8		—		—		8		—
Municipal bonds	1		1		—		—		1		—
Total	189		189		55		11		123		—

Derivatives:
Embedded derivatives in provisional sales/
purchase contracts in a gross asset position^c	155		155		—		—		155		—
Copper futures and swap contracts^c	11		11		—		9		2		—
Copper forward contracts^c	1		1		—		—		1		—
Contingent consideration for the sales of TFHL
and onshore California oil and gas properties^a	108		108		—		—		108		—
Total	275		275		—		9		266		—

Contingent consideration for the sale of the
Deepwater GOM oil and gas properties^a	150		134		—		—		—		134

Liabilities
Derivatives:^c
Embedded derivatives in provisional sales/
purchase contracts in a gross liability position^d	$	31	$	31	$	—	$	—	$	31	$	—
Copper forward contracts	2		2		—		1		1		—
Total	33		33		—		1		32		—

Long-term debt, including current portion^e	13,117		13,269		—		—		13,269		—


a.	Current portion included in other current assets and long-term portion included in other assets.

b.

Excludes time deposits (which approximated fair value) included in (i) other current assets of $123 million at March 31, 2018, and $52 million at December 31, 2017, primarily associated with PT-FI’s mine closure and reclamation guarantees and its disputed incremental export duty and (ii) other assets of $125 million at March 31, 2018, and $123 million at December 31, 2017, primarily associated with an assurance bond to support PT-FI’s commitment for smelter development in Indonesia.


c.	Refer to Note 6 for further discussion and balance sheet classifications.


d.	Excludes embedded derivatives in provisional cobalt purchase contracts of $30 million at March 31, 2018, and $24 million at December 31, 2017 (refer to Note 6 for further discussion).


e.	Recorded at cost except for debt assumed in acquisitions, which were recorded at fair value at the respective acquisition dates. In addition, debt excludes $112 million at March 31, 2018, and December 31, 2017, related to assets held for sale (which approximated fair value).

Summary of Unobservable Input Reconciliation

A summary of the changes in the fair value of FCX’s Level 3 instrument, contingent consideration for the sale of the Deepwater GOM oil and gas properties, during the first three months of 2018 follows (in millions):



Fair value at January 1, 2018	$	134
Net unrealized loss related to assets still held at the end of the period	(2		)
Fair value at March 31, 2018	$	132

Business Segments (Tables)

3 Months Ended

Mar. 31, 2018

Segment Reporting [Abstract]

Revenue from External Customers by Products and Services

FCX’s revenues attributable to the products it produced for the first quarters of 2018 and 2017 follow (in millions):



	Three Months Ended
	March 31,
	2018			2017
Copper:
Concentrate	$	1,647		$	981
Cathode	1,423			1,041
Rod and other refined copper products	670			624
Gold	808			268
Molybdenum	286			209
Other^a	398			231
Adjustments to revenue:
Treatment charges	(132		)	(103		)
Royalty expense^b	(69		)	(22		)
Export duties^c	(46		)	(14		)
Revenue from contracts with customers	4,985			3,215
Embedded derivatives^d	(117		)	126
Total consolidated revenues	$	4,868		$	3,341


a.	Primarily includes revenues associated with cobalt, silver, oil, gas and natural gas liquids.


b.	Reflects royalties for sales from PT-FI and Cerro Verde that will vary with the volume of metal sold and the prices of copper and gold.


c.	Reflects export duties paid by PT-FI.


d.	Refer to Note 6 for discussion of embedded derivatives related to FCX’s provisionally priced concentrate and cathode sales contracts.

Schedule of financial information by business segment

Financial Information by Business Segment




(In millions)

																					Atlantic		Corporate,
	North America Copper Mines						South America Mining														Copper		Other
							Cerro						Indonesia			Molybdenum			Rod &		Smelting		& Elimi-				FCX
	Morenci		Other		Total		Verde		Other		Total		Mining			Mines			Refining		& Refining		nations^a				Total
Three Months Ended March 31, 2018
Revenues:
Unaffiliated customers	$	3	$	15	$	18	$	625	$	150	$	775	$	1,521	^b	$	—		$	1,385	$	577	$	592		^c	$	4,868
Intersegment	601		689		1,290		102		—		102		52			95			8		2		(1,549		)		—
Production and delivery	290		501		791		427		116		543		457			67			1,388		556		(994		)		2,808
Depreciation, depletion and amortization	46		48		94		105		22		127		181			19			2		7		21				451
Selling, general and administrative expenses	1		2		3		2		—		2		39			—			—		6		81				131
Mining exploration and research expenses	—		1		1		—		—		—		—			—			—		—		20				21
Environmental obligations and shutdown costs	—		—		—		—		—		—		—			—			—		—		9				9
Net gain on sales of assets	—		—		—		—		—		—		—			—			—		—		(11		)		(11		)
Operating income (loss)	267		152		419		193		12		205		896			9			3		10		(83		)		1,459

Interest expense, net	1		—		1		17		—		17		—			—			—		5		128				151
Provision for income taxes	—		—		—		68		4		72		401			—			—		1		32				506
Total assets at March 31, 2018	2,817		4,340		7,157		8,740		1,715		10,455		10,992			1,836			290		809		5,098			^d	36,637
Capital expenditures	47		45		92		63		4		67		203			1			1		4		34				402

Three Months Ended March 31, 2017
Revenues:
Unaffiliated customers	$	66	$	50	$	116	$	640	$	112	$	752	$	534	^b	$	—		$	1,107	$	458	$	374		^c	$	3,341
Intersegment	416		563		979		116		—		116		—			63			8		—		(1,166		)		—
Production and delivery	257		409		666		391		82		473		270			52			1,109		436		(818		)		2,188			^e
Depreciation, depletion and amortization	47		69		116		112		21		133		83			19			2		7		29				389
Selling, general and administrative expenses	—		1		1		2		—		2		30			—			—		5		113				151
Mining exploration and research expenses	—		1		1		—		—		—		—			—			—		—		13				14
Environmental obligations and shutdown costs	—		—		—		—		—		—		—			—			—		—		25				25
Net gain on sales of assets	—		—		—		—		—		—		—			—			—		—		(23		)		(23		)
Operating income (loss)	178		133		311		251		9		260		151			(8		)	4		10		(131		)		597

Interest expense, net	1		—		1		16		—		16		—			—			—		4		146				167
Provision for income taxes	—		—		—		98		3		101		67			—			—		1		5				174
Total assets at March 31, 2017	2,814		4,361		7,175		9,081		1,525		10,606		10,418			1,917			261		652		5,547			^d	36,576
Capital expenditures	23		5		28		14		1		15		244			1			1		8		47				344


a.	Includes U.S. oil and gas operations.


b.	Includes PT-FI’s sales to PT Smelting totaling $628 million in first-quarter 2018 and $258 million in first-quarter 2017.


c.	Includes revenues from FCX’s molybdenum sales company, which includes sales of molybdenum produced by the Molybdenum mines and by certain of the North America and South America copper mines.


d.	Includes assets held for sale totaling $708 million at March 31, 2018, and $408 million at March 31, 2017, primarily associated with Freeport Cobalt and the Kisanfu exploration project.


e.	Includes a decrease of $12 million for the new guidance for the presentation of net periodic benefit cost for pension and other postretirement benefit plans (refer to Note 11 for further discussion).

Guarantor Financial Statements (Unaudited) Guarantor Financial Statements (Tables)

3 Months Ended

Mar. 31, 2018

Guarantor Financial Statements [Abstract]

Condensed Consolidating Balance Sheets [Table Text Block]

CONDENSED CONSOLIDATING BALANCE SHEET

March 31, 2018



	FCX			FM O&G LLC			Non-guarantor					Consolidated
	Issuer			Guarantor			Subsidiaries		Eliminations			FCX
ASSETS
Current assets	$	544		$	714		$	10,012	$	(1,164	)	$	10,106
Property, plant, equipment and mine development costs, net	14			7			22,780		(9		)	22,792
Investments in consolidated subsidiaries	18,668			—			—		(18,668		)	—
Other assets	561			34			3,255		(111		)	3,739
Total assets	$	19,787		$	755		$	36,047	$	(19,952	)	$	36,637

LIABILITIES AND EQUITY
Current liabilities	$	621		$	117		$	4,831	$	(1,225	)	$	4,344
Long-term debt, less current portion	9,594			6,574			5,013		(10,058		)	11,123
Deferred income taxes	745		^a	—			2,897		—			3,642
Environmental and asset retirement obligations, less current portion	—			203			3,427		—			3,630
Investments in consolidated subsidiaries	—			860			10,338		(11,198		)	—
Other liabilities	171			3,339			1,948		(3,486		)	1,972
Total liabilities	11,131			11,093			28,454		(25,967		)	24,711

Equity:
Stockholders’ equity	8,656			(10,338		)	4,901		5,437			8,656
Noncontrolling interests	—			—			2,692		578			3,270
Total equity	8,656			(10,338		)	7,593		6,015			11,926
Total liabilities and equity	$	19,787		$	755		$	36,047	$	(19,952	)	$	36,637


a.	All U.S.-related deferred income taxes are recorded at the parent company.

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2017



	FCX			FM O&G LLC			Non-guarantor					Consolidated
	Issuer			Guarantor			Subsidiaries		Eliminations			FCX
ASSETS
Current assets	$	75		$	671		$	10,823	$	(790	)	$	10,779
Property, plant, equipment and mine development costs, net	14			11			22,829		(10		)	22,844
Investments in consolidated subsidiaries	19,570			—			—		(19,570		)	—
Other assets	943			48			3,179		(491		)	3,679
Total assets	$	20,602		$	730		$	36,831	$	(20,861	)	$	37,302

LIABILITIES AND EQUITY
Current liabilities	$	1,683		$	220		$	4,073	$	(938	)	$	5,038
Long-term debt, less current portion	10,021			6,512			5,440		(10,270		)	11,703
Deferred income taxes	748		^a	—			2,874		—			3,622
Environmental and asset retirement obligations, less current portion	—			201			3,430		—			3,631
Investments in consolidated subsidiary	—			853			10,397		(11,250		)	—
Other liabilities	173			3,340			1,987		(3,488		)	2,012
Total liabilities	12,625			11,126			28,201		(25,946		)	26,006

Equity:
Stockholders’ equity	7,977			(10,396		)	5,916		4,480			7,977
Noncontrolling interests	—			—			2,714		605			3,319
Total equity	7,977			(10,396		)	8,630		5,085			11,296
Total liabilities and equity	$	20,602		$	730		$	36,831	$	(20,861	)	$	37,302


a.	All U.S.-related deferred income taxes are recorded at the parent company.

Condensed Consolidating Statements of Income [Table Text Block]

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)



Three Months Ended March 31, 2018
	FCX			FM O&G LLC			Non-guarantor						Consolidated
	Issuer			Guarantor			Subsidiaries			Eliminations			FCX
Revenues	$	—		$	15		$	4,853		$	—		$	4,868
Total costs and expenses	9			8			3,393			(1		)	3,409
Operating (loss) income	(9		)	7			1,460			1			1,459
Interest expense, net	(104		)	(64		)	(85		)	102			(151		)
Other income (expense), net	101			—			29			(102		)	28
(Loss) income before income taxes and equity in affiliated companies’ net earnings (losses)	(12		)	(57		)	1,404			1			1,336
(Provision for) benefit from income taxes	(83		)	12			(435		)	—			(506		)
Equity in affiliated companies’ net earnings (losses)	787			(6		)	(34		)	(749		)	(2		)
Net income (loss) from continuing operations	692			(51		)	935			(748		)	828
Net loss from discontinued operations	—			—			(11		)	—			(11		)
Net income (loss)	692			(51		)	924			(748		)	817
Net income attributable to noncontrolling interests:
Continuing operations	—			—			(71		)	(54		)	(125		)
Net income (loss) attributable to common stockholders	$	692		$	(51	)	$	853		$	(802	)	$	692

Other comprehensive income (loss)	12			—			12			(12		)	12
Total comprehensive income (loss)	$	704		$	(51	)	$	865		$	(814	)	$	704



Three Months Ended March 31, 2017
	FCX			FM O&G LLC			Non-guarantor						Consolidated
	Issuer			Guarantor			Subsidiaries			Eliminations			FCX
Revenues	$	—		$	13		$	3,328		$	—		$	3,341
Total costs and expenses	8			50			2,684			2			2,744
Operating (loss) income	(8		)	(37		)	644			(2		)	597
Interest expense, net	(122		)	(53		)	(71		)	79			(167		)
Other income (expense), net	78			—			9			(79		)	8
(Loss) income before income taxes and equity in affiliated companies’ net earnings (losses)	(52		)	(90		)	582			(2		)	438
(Provision for) benefit from income taxes	(60		)	31			(146		)	1			(174		)
Equity in affiliated companies’ net earnings (losses)	340			20			(36		)	(320		)	4
Net income (loss) from continuing operations	228			(39		)	400			(321		)	268
Net income from discontinued operations	—			—			38			—			38
Net income (loss)	228			(39		)	438			(321		)	306
Net income attributable to noncontrolling interests:
Continuing operations	—			—			(65		)	(10		)	(75		)
Discontinued operations	—			—			(3		)	—			(3		)
Net income (loss) attributable to common stockholders	$	228		$	(39	)	$	370		$	(331	)	$	228

Other comprehensive income (loss)	11			—			11			(11		)	11
Total comprehensive income (loss)	$	239		$	(39	)	$	381		$	(342	)	$	239

Condensed Consolidating Statements of Cash Flows [Table Text Block]

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS



Three Months Ended March 31, 2018
	FCX			FM O&G LLC			Non-guarantor						Consolidated
	Issuer			Guarantor			Subsidiaries			Eliminations			FCX
Net cash (used in) provided by operating activities	$	(156	)	$	(70	)	$	1,595		$	—		$	1,369

Cash flow from investing activities:
Capital expenditures	—			—			(402		)	—			(402		)
Intercompany loans	(184		)	—			—			184			—
Dividends from (investments in) consolidated subsidiaries	1,746			—			23			(1,769		)	—
Asset sales and other, net	—			—			(90		)	—			(90		)
Net cash provided by (used in) investing activities	1,562			—			(469		)	(1,585		)	(492		)

Cash flow from financing activities:
Proceeds from debt	—			—			122			—			122
Repayments of debt	(1,409		)	—			(224		)	—			(1,633		)
Intercompany loans	—			62			122			(184		)	—
Cash dividends paid and contributions received, net	—			—			(1,835		)	1,755			(80		)
Other, net	3			—			(14		)	14			3
Net cash (used in) provided by financing activities	(1,406		)	62			(1,829		)	1,585			(1,588		)

Net decrease in cash, cash equivalents, restricted cash and restricted cash equivalents	—			(8		)	(703		)	—			(711		)
Decrease in cash and cash equivalents in assets held for sale	—			—			32			—			32
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year	—			8			4,623			—			4,631
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	$	—		$	—		$	3,952		$	—		$	3,952



Three Months Ended March 31, 2017
	FCX			FM O&G LLC			Non-guarantor						Consolidated
	Issuer			Guarantor			Subsidiaries			Eliminations			FCX
Net cash (used in) provided by operating activities	$	(112	)	$	(200	)	$	1,104		$	—		$	792

Cash flow from investing activities:
Capital expenditures	—			(10		)	(334		)	—			(344		)
Intercompany loans	(277		)	—			—			277			—
Dividends from (investments in) consolidated subsidiaries	894			—			26			(920		)	—
Asset sales and other, net	—			(23		)	6			—			(17		)
Net cash provided by (used in) investing activities	617			(33		)	(302		)	(643		)	(361		)

Cash flow from financing activities:
Proceeds from debt	—			—			157			—			157
Repayments of debt	(499		)	—			(316		)	—			(815		)
Intercompany loans	—			236			41			(277		)	—
Cash dividends paid and contributions received, net	(1		)	—			(895		)	880			(16		)
Other, net	(5		)	(6		)	(34		)	40			(5		)
Net cash (used in) provided by financing activities	(505		)	230			(1,047		)	643			(679		)

Net decrease in cash, cash equivalents, restricted cash and restricted cash equivalents	—			(3		)	(245		)	—			(248		)
Decrease in cash and cash equivalents in assets held for sale	—			—			8			—			8
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year	—			11			4,392			—			4,403
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	$	—		$	8		$	4,155		$	—		$	4,163

New Accounting Standard (Unaudited) (Tables)

3 Months Ended

Mar. 31, 2018

New Accounting Pronouncements and Changes in Accounting Principles [Abstract]

Impact of Adopting New Accounting Standards

The impact of adopting this ASU for the three months ended March 31, 2017, follows (in millions):



	Previously Reported		Impact of Adoption			Current Presentation
Production and delivery	$	2,200	$	(12	)	$	2,188
Total cost of sales	2,589		(12		)	2,577
Selling, general and administrative expenses	153		(2		)	151
Mining exploration and research expenses	15		(1		)	14
Environmental obligations and shutdown costs	27		(2		)	25
Total costs and expenses	2,761		(17		)	2,744
Operating income	580		17			597
Other income, net	25		(17		)	8

The impact of adopting this ASU for the three months ended March 31, 2017, follows (in millions):



	Previously Reported			Impact of Adoption		Current Presentation
Other, net included in cash flow from investing activities	$	(21	)	$	4	$	(17	)
Cash flow from investing activities	(365		)	4		(361		)
Net decrease in cash, cash equivalents, restricted cash and restricted cash equivalents	(252		)	4		(248		)
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year	4,245			158		4,403
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	4,001			162		4,163

Earnings per Share (Unaudited) Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share [Abstract]
Net income from continuing operations	$ 828	$ 268
Net income from continuing operations attributable to noncontrolling interests	125	75
Undistributed earnings allocated to participating securities	4	3
Net income from continuing operations attributable to common stockholders	699	190
Net (loss) income from discontinued operations	(11)	38
Net income from discontinued operations attributable to noncontrolling interests	0	3
Net (loss) income from discontinued operations attributable to common stockholders	(11)	35
Net income attributable to common stockholders	$ 688	$ 225
Basic	1,449	1,446
Add shares issuable upon exercise or vesting of dilutive stock options and restricted stock units	9	8
Diluted weighted-average shares of common stock outstanding	1,458	1,454
Basic and diluted net income (loss) per share attributable to common stockholders
Continuing operations	$ 0.48	$ 0.13
Discontinued operations	(0.01)	0.03
Basic and diluted net income (loss) per share attributable to common stockholders:	$ 0.47	$ 0.16
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	4
Dilutive Securities Excluded from Computation of EPS Amount	33	44

Inventories, Including Long-Term Mill and Leach Stockpiles (Unaudited) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Components of Inventories [Line Items]
Total materials and supplies, net	$ 1,335	$ 1,305
Mill stockpiles	330	360
Leach stockpiles	1,118	1,062
Total current mill and leach stockpiles	1,448	1,422
Raw materials (primarily concentrate)	284	265
Work-in-process	138	154
Finished goods	680	747
Total product inventories	1,102	1,166
Mill stockpiles	308	300
Leach stockpiles	1,079	1,109
Total long-term mill and leach stockpiles	1,387	1,409
Inventory obsolescence reserves	$ 25	$ 29

Income Taxes (Unaudited) (Details) - USD ($)	3 Months Ended
Income Taxes (Unaudited) (Details) - USD ($)	Mar. 31, 2018	Mar. 31, 2017
Schedule Of Income Taxes [Line Items]
U.S. operations	$ 3,000,000	$ (7,000,000)
International operations	(509,000,000)	(167,000,000)
Total	(506,000,000)	$ (174,000,000)
Tax Cuts and Jobs Act of 2017, Measurement Period Adjustment, Income Tax Expense (Benefit)	$ 0
Consolidated effective income tax rate (percent)	38.00%	40.00%

Debt (Details) $ / shares in Units, $ in Millions		1 Months Ended	3 Months Ended				9 Months Ended	12 Months Ended
Debt (Details) $ / shares in Units, $ in Millions	Apr. 04, 2018 USD ($)	Apr. 30, 2018 USD ($)	Jun. 30, 2018 USD ($)	Mar. 31, 2018 USD ($) $ / shares	Mar. 31, 2017 USD ($) $ / shares	Sep. 30, 2016 USD ($)	Sep. 30, 2017 USD ($)	Dec. 31, 2017 USD ($)
Debt Instruments [Line Items]
Long-term Debt and Capital Lease Obligations, Including Current Maturities				$ 11,606				$ 13,117
Less current portion of long-term debt and short-term borrownings				(483)				(1,414)
Long-term Debt and Capital Lease Obligations, Repayments of Principal in Next Twelve Months								1,414
Long-term debt				11,123				11,703
Liabilities, Fair Value Adjustment				93				97
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net				81				85
Senior Notes Issued by FCX [Abstract]
Repayments of Debt				1,633	$ 815
Exchanges and Early Extinguishment of Debt [Abstract]
Interest Costs Incurred				$ 176	$ 195
Dividends declared per share of common stock \| $ / shares				$ 0.05	$ 0
Long-term Debt and Capital Lease Obligations								11,703
Property, Plant and Equipment [Member]
Exchanges and Early Extinguishment of Debt [Abstract]
Interest Costs Capitalized				$ 25	$ 28
Oil and Gas Operations Segment [Member] \| Oil and Gas Properties [Member]
Exchanges and Early Extinguishment of Debt [Abstract]
Interest Costs Capitalized						$ 0	$ 0
Line of Credit [Member] \| Line of Credit [Member] \| Cerro Verde [Member]
Debt Instruments [Line Items]
Long-term Debt				1,170				1,269
Line of Credit [Member] \| Letter of Credit [Member]
Revolving Credit Facility [Abstract]
Long-term Line of Credit				13
Revolving Credit Facility, Remaining Borrowing Capacity				1,500
Line of Credit [Member] \| Revolving Credit Facility [Member]
Debt Instruments [Line Items]
Long-term Debt				0
Revolving Credit Facility [Abstract]
Revolving Credit Facility, Remaining Borrowing Capacity				3,500
Senior Notes [Member]
Exchanges and Early Extinguishment of Debt [Abstract]
Repayments of Lines of Credit				100
Senior Notes [Member] \| 2.375% Senior Notes due March 2018 [Member]
Senior Notes Issued by FCX [Abstract]
Repayments of Debt				1,400
Senior Notes [Member] \| FCX [Member]
Debt Instruments [Line Items]
Long-term Debt, Gross				10,020				11,429
Senior Notes [Member] \| Freeport-McMoRan Oil & Gas
Debt Instruments [Line Items]
Long-term Debt, Gross				54				54
Senior Notes [Member] \| Scenario, Forecast [Member]
Exchanges and Early Extinguishment of Debt [Abstract]
Net loss (gain) on exchanges and early extinguishment of debt			$ 10
Debentures [Member] \| Freeport McMoRan Corporation [Member]
Debt Instruments [Line Items]
Long-term Debt, Gross				358				358
Other Debt, Including Capital Leases and Short Term Borrowings [Member]
Debt Instruments [Line Items]
Long-term Debt and Capital Lease Obligations, Including Current Maturities				$ 4				$ 7
Subsequent Event [Member]
Revolving Credit Facility [Abstract]
Debt Instrument, Term		5 years
Subsequent Event [Member] \| Line of Credit [Member] \| Revolving Credit Facility [Member]
Revolving Credit Facility [Abstract]
Line of Credit Facility, Maximum Borrowing Capacity		$ 3,500
Exchanges and Early Extinguishment of Debt [Abstract]
Amount of revolving credit facility available to subsidiary		$ 500
Subsequent Event [Member] \| Senior Notes [Member] \| Freeport-McMoRan Oil & Gas
Exchanges and Early Extinguishment of Debt [Abstract]
Extinguishment Of Debt, Redemption Value	$ 454
Subsequent Event [Member] \| Senior Notes [Member] \| Freeport-McMoRan Oil & Gas \| 6.75% Senior Notes due 2022 [Member]
Exchanges and Early Extinguishment of Debt [Abstract]
Extinguishment Of Debt, Redemption Value	404
Subsequent Event [Member] \| Senior Notes [Member] \| Freeport-McMoRan Oil & Gas \| 6.875% Senior Notes due 2023 [Member]
Exchanges and Early Extinguishment of Debt [Abstract]
Extinguishment Of Debt, Redemption Value	$ 50
Subsequent Event [Member] \| Maximum [Member]
Exchanges and Early Extinguishment of Debt [Abstract]
Debt Instrument, Covenant Compliance, Leverage Ratio		3.75
Subsequent Event [Member] \| Minimum [Member]
Exchanges and Early Extinguishment of Debt [Abstract]
DebtInstrumentCovenantComplianceCoverageRatio		2.25

Financial Instruments (Unrealized gains losses) (Details) oz in Thousands, lb in Millions, $ in Millions		3 Months Ended
	Mar. 31, 2018 lb oz $ / lb $ / lb $ / oz	Mar. 31, 2018 USD ($) $ / lb $ / lb $ / oz	Mar. 31, 2017 USD ($)
Not Designated as Hedging Instrument [Member] \| Amounts recorded in Sales [Member]
Realized gains (losses):
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net \| $		$ (117)	$ 126
Commodity Contract [Member]
Unrealized gains (losses):
Derivative financial instruments \| $		(15)	(2)
Hedged item – firm sales commitments \| $		15	2
Realized gains (losses):
Matured derivative financial instruments \| $		$ 2	8
Commodity Contract [Member] \| Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Nonmonetary Notional Amount, Mass \| lb	57
Derivative, Average Forward Price	3.10	3.10
Copper Forward Contracts [Member] \| Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Nonmonetary Notional Amount, Mass \| lb	3
Derivative, Average Forward Price	3.09	3.09
Copper Forward Contracts [Member] \| Not Designated as Hedging Instrument [Member] \| Amounts recorded in Cost of Sales
Realized gains (losses):
Matured derivative financial instruments \| $		$ 2	(1)
Copper \| Not Designated as Hedging Instrument [Member] \| Amounts recorded in Sales [Member]
Realized gains (losses):
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net \| $		$ (135)	107
Copper \| Short [Member] \| Embedded Derivative Financial Instruments [Member] \| Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Nonmonetary Notional Amount, Mass \| lb	518
Derivative, Average Forward Price	3.13	3.13
Realized gains (losses):
Derivative Average Market Price	3.04	3.04
Copper \| Long [Member] \| Embedded Derivative Financial Instruments [Member] \| Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Nonmonetary Notional Amount, Mass \| lb	104
Derivative, Average Forward Price	3.13	3.13
Realized gains (losses):
Derivative Average Market Price	3.04	3.04
Gold \| Short [Member] \| Embedded Derivative Financial Instruments [Member] \| Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Nonmonetary Notional Amount, Mass \| oz	311
Derivative, Average Forward Price \| $ / oz	1,325	1,325
Realized gains (losses):
Derivative Average Market Price \| $ / oz	1,327	1,327
gold and other [Member] \| Not Designated as Hedging Instrument [Member] \| Amounts recorded in Sales [Member]
Realized gains (losses):
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net \| $		$ 18	$ 19
Cobalt \| Long [Member] \| Embedded Derivative Financial Instruments [Member] \| Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Nonmonetary Notional Amount, Mass \| lb	8
Derivative, Average Forward Price	30.19	30.19
Realized gains (losses):
Derivative Average Market Price	33.88	33.88

Financial Instruments (Unsettled Derivatives) (Details) oz in Thousands, lb in Millions, $ in Millions		3 Months Ended
	Mar. 31, 2018 USD ($) lb oz $ / lb $ / lb $ / oz	Mar. 31, 2018 USD ($) $ / lb $ / lb $ / oz	Mar. 31, 2017 USD ($)	Dec. 31, 2017 USD ($)
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 13	$ 13		$ 167
Derivative Liability, Fair Value, Gross Liability	53	53		33
Derivative Asset, Fair Value, Gross Liability	1	1		1
Derivative Liability, Fair Value, Gross Asset	1	1		1
Derivative Asset	12	12		166
Derivative Liability	52	52		32
Trade accounts receivable [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset	0	0		151
Derivative Liability	41	41		0
Other Current Assets
Derivatives, Fair Value [Line Items]
Derivative Asset	2	2		11
Derivative Liability	0	0		0
Accounts Payable and Accrued Liabilities
Derivatives, Fair Value [Line Items]
Derivative Asset	10	10		4
Derivative Liability	11	11		32
Commodity Contract [Member]
Derivatives, Fair Value [Line Items]
Derivative, Gain (Loss) on Derivative, Net		2	$ 8
Derivative Asset, Fair Value, Gross Asset	2	2		12
Derivative Liability, Fair Value, Gross Liability	5	5		2
Derivative Asset, Fair Value, Gross Liability	0	0		1
Derivative Liability, Fair Value, Gross Asset	0	0		1
Derivative Asset	2	2		11
Derivative Liability	5	5		1
Embedded Derivative Financial Instruments [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	11	11		155
Derivative Liability, Fair Value, Gross Liability	48	48		31
Derivative Asset, Fair Value, Gross Liability	1	1		0
Derivative Liability, Fair Value, Gross Asset	1	1		0
Derivative Asset	10	10		155
Derivative Liability	47	47		31
Designated as Hedging Instrument [Member] \| Commodity Contract [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 2	$ 2		11
Derivative, Nonmonetary Notional Amount, Mass \| lb	57
Derivative, Average Forward Price \| $ / lb	3.10	3.10
Not Designated as Hedging Instrument [Member] \| Embedded Derivative Financial Instruments [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 11	$ 11		155
Derivative Liability, Fair Value, Gross Liability	$ 48	$ 48		31
Not Designated as Hedging Instrument [Member] \| Forward Contracts [Member]
Derivatives, Fair Value [Line Items]
Derivative, Nonmonetary Notional Amount, Mass \| lb	3
Derivative, Average Forward Price \| $ / lb	3.09	3.09
Future [Member] \| Not Designated as Hedging Instrument [Member] \| FMC's Copper Futures and Swap Contracts [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability	$ 5	$ 5		0
Commodity Contract [Member] \| Not Designated as Hedging Instrument [Member] \| Forward Contracts [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability	0	0		2
Commodity Contract [Member] \| Not Designated as Hedging Instrument [Member] \| Forward Contracts [Member] \| Other Current Assets
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 0	$ 0		1
Copper \| Short [Member] \| Not Designated as Hedging Instrument [Member] \| Embedded Derivative Financial Instruments [Member]
Derivatives, Fair Value [Line Items]
Derivative Average Market Price \| $ / lb	3.04	3.04
Derivative, Nonmonetary Notional Amount, Mass \| lb	518
Derivative, Average Forward Price \| $ / lb	3.13	3.13
Copper \| Long [Member] \| Not Designated as Hedging Instrument [Member] \| Embedded Derivative Financial Instruments [Member]
Derivatives, Fair Value [Line Items]
Derivative Average Market Price \| $ / lb	3.04	3.04
Derivative, Nonmonetary Notional Amount, Mass \| lb	104
Derivative, Average Forward Price \| $ / lb	3.13	3.13
Gold \| Short [Member] \| Not Designated as Hedging Instrument [Member] \| Embedded Derivative Financial Instruments [Member]
Derivatives, Fair Value [Line Items]
Derivative Average Market Price \| $ / oz	1,327	1,327
Derivative, Nonmonetary Notional Amount, Mass \| oz	311
Derivative, Average Forward Price \| $ / oz	1,325	1,325
Sales [Member] \| Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net		$ (117)	126
Sales [Member] \| Copper \| Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net		(135)	107
Sales [Member] \| gold and other [Member] \| Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net		18	19
Cost of Sales [Member] \| Not Designated as Hedging Instrument [Member] \| Forward Contracts [Member]
Derivatives, Fair Value [Line Items]
Derivative, Gain (Loss) on Derivative, Net		2	$ (1)
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] \| Not Designated as Hedging Instrument [Member] \| Embedded Derivative Financial Instruments [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability	$ 30	$ 30		$ 24

Financial Instruments (Derivative) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Cash and Cash Equivalents [Line Items]
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	$ 3,702	$ 4,447
Restricted Cash and Cash Equivalents, Current	123	52
Restricted Cash and Cash Equivalents, Noncurrent	127	132
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year	3,952	4,631	$ 4,163	$ 4,403
Credit Derivative, Maximum Exposure, Undiscounted	11
Bank Time Deposits [Member]
Cash and Cash Equivalents [Line Items]
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	$ 2,800	$ 2,900

Fair Value Measurement (Fair Value Measurement Inputs) (Details) $ in Millions	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Mar. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Mar. 31, 2017 USD ($)	Dec. 31, 2016 USD ($) $ / bbl	Nov. 16, 2016 USD ($) $ / lb
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Other current assets				$ 367	$ 270
Other assets				2,352	2,270
Assets				36,637	37,302	$ 36,576
Derivative Liability, Fair Value, Gross Liability				53	33
Derivatives:
Derivative Asset				12	166
Derivatives: [Abstract]
Derivative Liability				52	32
Level 1
Investment securities (current and long-term):
Investments, Fair Value Disclosure				5	5
Trust Assets Fair Value Disclosure				8	11
Derivatives:
Derivative Asset				1	9
Contingent receivable				0	0
Derivatives: [Abstract]
Derivative Liability				4	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				117	123
Derivatives:
Derivative Asset				122	266
Contingent receivable				0	0
Derivatives: [Abstract]
Derivative Liability				49	32
Long-term debt, including current portion				11,406	13,269
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
Contingent receivable				132	134
Derivatives: [Abstract]
Derivative Liability				0	0
Long-term debt, including current portion				0	0
Estimate of Fair Value Measurement [Member]
Investment securities (current and long-term):
Investments, Fair Value Disclosure				30	30
Trust Assets Fair Value Disclosure				179	189
Derivatives:
Derivative Asset				123	275
Contingent receivable				132	134
Derivatives: [Abstract]
Derivative Liability				53	33
Long-term debt, including current portion				11,406	13,269
Carrying Amount, Fair Value Disclosure [Member]
Investment securities (current and long-term):
Investments, Fair Value Disclosure				30	30
Trust Assets Fair Value Disclosure				179	189
Derivatives:
Derivative Asset				123	275
Contingent receivable				150	150
Derivatives: [Abstract]
Derivative Liability				53	33
Long-term debt, including current portion				11,606	13,117
Forward Contracts [Member] \| Level 1
Derivatives:
Derivative Asset					0
Forward Contracts [Member] \| Level 2
Derivatives:
Derivative Asset					1
Forward Contracts [Member] \| Level 3
Derivatives:
Derivative Asset					0
Forward Contracts [Member] \| Estimate of Fair Value Measurement [Member]
Derivatives:
Derivative Asset					1
Forward Contracts [Member] \| Carrying Amount, Fair Value Disclosure [Member]
Derivatives:
Derivative Asset					1
Embedded Derivative Financial Instruments [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Derivative Liability, Fair Value, Gross Liability				48	31
Derivatives:
Derivative Asset				10	155
Derivatives: [Abstract]
Derivative Liability				47	31
Embedded Derivative Financial Instruments [Member] \| Level 1
Derivatives:
Derivative Asset				0	0
Derivatives: [Abstract]
Derivative Liability				0	0
Embedded Derivative Financial Instruments [Member] \| Level 2
Derivatives:
Derivative Asset				11	155
Derivatives: [Abstract]
Derivative Liability				48	31
Embedded Derivative Financial Instruments [Member] \| Level 3
Derivatives:
Derivative Asset				0	0
Derivatives: [Abstract]
Derivative Liability				0	0
Embedded Derivative Financial Instruments [Member] \| Estimate of Fair Value Measurement [Member]
Derivatives:
Derivative Asset				11	155
Derivatives: [Abstract]
Derivative Liability				48	31
Embedded Derivative Financial Instruments [Member] \| Carrying Amount, Fair Value Disclosure [Member]
Derivatives:
Derivative Asset				11	155
Derivatives: [Abstract]
Derivative Liability				48	31
Commodity Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Derivative Liability, Fair Value, Gross Liability				5	2
Derivatives:
Derivative Asset				2	11
Derivatives: [Abstract]
Derivative Liability				5	1
Commodity Contract [Member] \| Level 1
Derivatives:
Derivative Asset					9
Derivatives: [Abstract]
Derivative Liability				4
Commodity Contract [Member] \| Level 2
Derivatives:
Derivative Asset					2
Derivatives: [Abstract]
Derivative Liability				1
Commodity Contract [Member] \| Level 3
Derivatives:
Derivative Asset					0
Derivatives: [Abstract]
Derivative Liability				0
Commodity Contract [Member] \| Estimate of Fair Value Measurement [Member]
Derivatives:
Derivative Asset					11
Derivatives: [Abstract]
Derivative Liability				5
Commodity Contract [Member] \| Carrying Amount, Fair Value Disclosure [Member]
Derivatives:
Derivative Asset					11
Derivatives: [Abstract]
Derivative Liability				5
Future [Member] \| Level 1
Derivatives:
Derivative Asset				1
Future [Member] \| Level 2
Derivatives:
Derivative Asset				1
Future [Member] \| Level 3
Derivatives:
Derivative Asset				0
Future [Member] \| Estimate of Fair Value Measurement [Member]
Derivatives:
Derivative Asset				2
Future [Member] \| Carrying Amount, Fair Value Disclosure [Member]
Derivatives:
Derivative Asset				2
Africa and onshore California [Member] \| Commodity Contract [Member] \| Level 1
Derivatives:
Derivative Asset				0	0
Africa and onshore California [Member] \| Commodity Contract [Member] \| Level 2
Derivatives:
Derivative Asset				110	108
Africa and onshore California [Member] \| Commodity Contract [Member] \| Level 3
Derivatives:
Derivative Asset				0	0
Africa and onshore California [Member] \| Commodity Contract [Member] \| Estimate of Fair Value Measurement [Member]
Derivatives:
Derivative Asset				110	108
Africa and onshore California [Member] \| Commodity Contract [Member] \| Carrying Amount, Fair Value Disclosure [Member]
Derivatives:
Derivative Asset				110	108
U.S. core fixed income fund [Member] \| Level 1
Investment securities (current and long-term):
Marketable Securities				0	0
Trust Assets Fair Value Disclosure				0	0
U.S. core fixed income fund [Member] \| Level 2
Investment securities (current and long-term):
Marketable Securities				0	0
Trust Assets Fair Value Disclosure				0	0
U.S. core fixed income fund [Member] \| Level 3
Investment securities (current and long-term):
Marketable Securities				0	0
Trust Assets Fair Value Disclosure				0	0
U.S. core fixed income fund [Member] \| Estimate of Fair Value Measurement [Member]
Investment securities (current and long-term):
Marketable Securities				25	25
Trust Assets Fair Value Disclosure				54	55
U.S. core fixed income fund [Member] \| Carrying Amount, Fair Value Disclosure [Member]
Investment securities (current and long-term):
Marketable Securities				25	25
Trust Assets Fair Value Disclosure				54	55
Equity securities \| Level 1
Investment securities (current and long-term):
Marketable Securities				5	5
Equity securities \| Level 2
Investment securities (current and long-term):
Marketable Securities				0	0
Equity securities \| Level 3
Investment securities (current and long-term):
Marketable Securities				0	0
Equity securities \| Estimate of Fair Value Measurement [Member]
Investment securities (current and long-term):
Marketable Securities				5	5
Equity securities \| Carrying Amount, Fair Value Disclosure [Member]
Investment securities (current and long-term):
Marketable Securities				5	5
Money market funds [Member] \| Level 1
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure				8	11
Money market funds [Member] \| Level 2
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure				0	0
Money market funds [Member] \| Level 3
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure				0	0
Money market funds [Member] \| Estimate of Fair Value Measurement [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure				8	11
Money market funds [Member] \| Carrying Amount, Fair Value Disclosure [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure				8	11
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				42	40
Government bonds \| Level 3
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure				0	0
Government bonds \| Estimate of Fair Value Measurement [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure				42	40
Government bonds \| Carrying Amount, Fair Value Disclosure [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure				42	40
Corporate bonds [Member] \| Level 1
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure				0	0
Corporate bonds [Member] \| Level 2
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure				29	32
Corporate bonds [Member] \| Level 3
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure				0	0
Corporate bonds [Member] \| Estimate of Fair Value Measurement [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure				29	32
Corporate bonds [Member] \| Carrying Amount, Fair Value Disclosure [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure				29	32
Government mortgage-backed securities [Member] \| Level 1
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure				0	0
Government mortgage-backed securities [Member] \| Level 2
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure				25	27
Government mortgage-backed securities [Member] \| Level 3
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure				0	0
Government mortgage-backed securities [Member] \| Estimate of Fair Value Measurement [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure				25	27
Government mortgage-backed securities [Member] \| Carrying Amount, Fair Value Disclosure [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure				25	27
Asset-backed securities [Member] \| Level 1
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure				0	0
Asset-backed securities [Member] \| Level 2
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure				13	15
Asset-backed securities [Member] \| Level 3
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure				0	0
Asset-backed securities [Member] \| Estimate of Fair Value Measurement [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure				13	15
Asset-backed securities [Member] \| Carrying Amount, Fair Value Disclosure [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure				13	15
Collateralized Mortgage Backed Securities [Member] \| Level 1
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure				0	0
Collateralized Mortgage Backed Securities [Member] \| Level 2
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure				7	8
Collateralized Mortgage Backed Securities [Member] \| Level 3
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure				0	0
Collateralized Mortgage Backed Securities [Member] \| Estimate of Fair Value Measurement [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure				7	8
Collateralized Mortgage Backed Securities [Member] \| Carrying Amount, Fair Value Disclosure [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure				7	8
Municipal bonds [Member] \| Level 1
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure				0	0
Municipal bonds [Member] \| Level 2
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure				1	1
Municipal bonds [Member] \| Level 3
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure				0	0
Municipal bonds [Member] \| Estimate of Fair Value Measurement [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure				1	1
Municipal bonds [Member] \| Carrying Amount, Fair Value Disclosure [Member]
Investment securities (current and long-term):
Trust Assets Fair Value Disclosure				1	1
Bank Time Deposits [Member] \| Carrying Amount, Fair Value Disclosure [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Other current assets				123	52
Other assets				125	123
Commodity Contract [Member] \| Level 1
Derivatives: [Abstract]
Derivative Liability					1
Commodity Contract [Member] \| Level 2
Derivatives: [Abstract]
Derivative Liability					1
Commodity Contract [Member] \| Level 3
Derivatives: [Abstract]
Derivative Liability					0
Commodity Contract [Member] \| Estimate of Fair Value Measurement [Member]
Derivatives: [Abstract]
Derivative Liability					2
Commodity Contract [Member] \| Carrying Amount, Fair Value Disclosure [Member]
Derivatives: [Abstract]
Derivative Liability					2
Investment Securities [Member]
Investment securities (current and long-term):
Alternative Investment, Fair Value Disclosure				25	25
Investment Securities [Member] \| U.S. core fixed income fund [Member]
Investment securities (current and long-term):
Alternative Investment, Fair Value Disclosure				25	25
Restricted Funds [Member]
Investment securities (current and long-term):
Alternative Investment, Fair Value Disclosure				54	55
Restricted Funds [Member] \| U.S. core fixed income fund [Member]
Investment securities (current and long-term):
Alternative Investment, Fair Value Disclosure				54	55
Not Designated as Hedging Instrument [Member] \| Embedded Derivative Financial Instruments [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Derivative Liability, Fair Value, Gross Liability				48	31
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] \| Estimate of Fair Value Measurement [Member]
Derivatives: [Abstract]
Long-term debt, including current portion				112	112
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] \| Not Designated as Hedging Instrument [Member] \| Embedded Derivative Financial Instruments [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Derivative Liability, Fair Value, Gross Liability				30	24
TF Holdings Limited \| Discontinued Operations, Disposed of by Sale
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Other assets				65	74
Derivatives:
Contingent receivable								$ 120
Copper \| TF Holdings Limited \| Discontinued Operations, Disposed of by Sale
Derivatives:
Contingent receivable								60
Cobalt \| Disposal Group, Held-for-sale, Not Discontinued Operations [Member] \| Not Designated as Hedging Instrument [Member] \| Embedded Derivative Financial Instruments [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Derivative Liability, Fair Value, Gross Liability				30	24
Cobalt \| TF Holdings Limited \| Discontinued Operations, Disposed of by Sale
Derivatives:
Contingent receivable								$ 60
Contingent consideration, reference threshold (in us dollars per pound) \| $ / lb								20
Freeport-McMoRan Oil & Gas \| Onshore California [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Other current assets				18
Other assets					34
Assets				45
Derivatives:
Contingent receivable							$ 150
Freeport-McMoRan Oil & Gas \| Deepwater Gulf of Mexico Interests [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Other current assets				21	24
Other assets				$ 129	$ 126
Derivatives:
Contingent receivable							$ 150
Scenario, Forecast [Member] \| Freeport-McMoRan Oil & Gas \| Onshore California [Member]
Derivatives:
Contingent receivable	$ 50	$ 50	$ 50
Crude Oil [Member] \| Freeport-McMoRan Oil & Gas \| Onshore California [Member]
Derivatives:
Contingent consideration, reference threshold (in us dollars per pound) \| $ / bbl							70
Maximum [Member] \| Copper \| TF Holdings Limited \| Discontinued Operations, Disposed of by Sale
Derivatives:
Contingent consideration, reference threshold (in us dollars per pound) \| $ / lb								3.50

Fair Value Measurement (Unobservable inputs) (Details) - Gulf of Mexico Contingent Consideration [Member] $ in Millions	3 Months Ended
	Mar. 31, 2018 USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value at January 1, 2018	$ 134
Net unrealized loss related to assets still held at the end of the period	(2)
Fair value at March 31, 2018	$ 132

Contingencies and Commitments (Unaudited) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018 USD ($)
Loss Contingencies [Line Items]
Term to construct smelter	5 years
Tax Authority, In Papau, Indonesia [Member] \| Relating to January 2016 through April 2016 [Member] \| PT Freeport Indonesia [Member]
Loss Contingencies [Line Items]
Loss Contingency, Estimate of Possible Loss	$ 13
Change in Loss Contingency, percent	40.00%
Tax Authority, In Papau, Indonesia [Member] \| Relating to August 2015 through March 2018 [Member] \| PT Freeport Indonesia [Member]
Loss Contingencies [Line Items]
Loss Contingency, Estimate of Possible Loss	$ 161
Penalties [Member] \| Tax Authority, In Papau, Indonesia [Member] \| Relating to August 2015 through March 2018 [Member] \| PT Freeport Indonesia [Member]
Loss Contingencies [Line Items]
Loss Contingency, Estimate of Possible Loss	$ 81
PT Freeport Indonesia [Member]
Loss Contingencies [Line Items]
Divestment percentage	51.00%
PT Freeport Indonesia [Member] \| PT Indocopper Investama [Member]
Loss Contingencies [Line Items]
Investment Owned, Percent of Net Assets	9.36%
David Garcia v. Freeport-McMoRan Oil & Gas LLC Litigation [Member] \| Minimum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Estimate of Possible Loss	$ 50
David Garcia v. Freeport-McMoRan Oil & Gas LLC Litigation [Member] \| Maximum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Estimate of Possible Loss	$ 80

Business Segments (Product Revenue) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenue from External Customer [Line Items]
Treatment And Refining Charges Included In Copper Concentrates Revenues	$ (132)	$ (103)
Royalty Expense	(69)	(22)
Export Duties Expense	(46)	(14)
Revenue from Contract with Customer, Excluding Assessed Tax	4,985	3,215
Revenues	4,868	3,341
Copper In Concentrates [Member]
Revenue from External Customer [Line Items]
Revenues	1,647	981
Copper Cathode [Member]
Revenue from External Customer [Line Items]
Revenues	1,423	1,041
Refined Copper Products [Member]
Revenue from External Customer [Line Items]
Revenues	670	624
Gold
Revenue from External Customer [Line Items]
Revenues	808	268
Molybdenum [Member]
Revenue from External Customer [Line Items]
Revenues	286	209
Other Products Or Services [Member]
Revenue from External Customer [Line Items]
Revenues	398	231
Sales [Member] \| Not Designated as Hedging Instrument [Member]
Revenue from External Customer [Line Items]
Matured derivative financial instruments	$ (117)	$ 126

Business Segments (Segment Reporting) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Segment Reporting Information [Line Items]
Number of Operating Segments	4
Revenues	$ 4,868	$ 3,341
Production and delivery	2,808	2,188
Depreciation, depletion and amortization	451	389
Selling, general and administrative expenses	131	151
Mining exploration and research expenses	21	14
Environmental obligations and shutdown costs	9	25
Net gain on sales of assets	(11)	(23)
Operating income (loss)	1,459	597
Interest expense, net	151	167
Provision for (benefit from) income taxes	506	174
Total assets	36,637	36,576	$ 37,302
Capital expenditures	402	344
Assets held for sale	708	408	$ 598
Operating Segments \| North America
Segment Reporting Information [Line Items]
Revenues	18	116
Production and delivery	791	666
Depreciation, depletion and amortization	94	116
Selling, general and administrative expenses	3	1
Mining exploration and research expenses	1	1
Environmental obligations and shutdown costs	0	0
Net gain on sales of assets	0	0
Operating income (loss)	419	311
Interest expense, net	1	1
Provision for (benefit from) income taxes	0	0
Total assets	7,157	7,175
Capital expenditures	92	28
Operating Segments \| South America
Segment Reporting Information [Line Items]
Revenues	775	752
Production and delivery	543	473
Depreciation, depletion and amortization	127	133
Selling, general and administrative expenses	2	2
Mining exploration and research expenses	0	0
Environmental obligations and shutdown costs	0	0
Net gain on sales of assets	0	0
Operating income (loss)	205	260
Interest expense, net	17	16
Provision for (benefit from) income taxes	72	101
Total assets	10,455	10,606
Capital expenditures	67	15
Corporate And Eliminations [Member]
Segment Reporting Information [Line Items]
Revenues	592	374
Production and delivery	(994)	(818)
Depreciation, depletion and amortization	21	29
Selling, general and administrative expenses	81	113
Mining exploration and research expenses	20	13
Environmental obligations and shutdown costs	9	25
Net gain on sales of assets	(11)	(23)
Operating income (loss)	(83)	(131)
Interest expense, net	128	146
Provision for (benefit from) income taxes	32	5
Total assets	5,098	5,547
Capital expenditures	34	47
Intersegment
Segment Reporting Information [Line Items]
Revenues	0	0
Intersegment \| North America
Segment Reporting Information [Line Items]
Revenues	1,290	979
Intersegment \| South America
Segment Reporting Information [Line Items]
Revenues	102	116
Pt Smelting [Member] \| Affiliated Entity [Member]
Segment Reporting Information [Line Items]
Revenues	$ 628	258
Pt Smelting [Member]
Segment Reporting Information [Line Items]
Deferred Intercompany Profit, Percentage	25.00%
Morenci [Member] \| Operating Segments \| North America
Segment Reporting Information [Line Items]
Revenues	$ 3	66
Production and delivery	290	257
Depreciation, depletion and amortization	46	47
Selling, general and administrative expenses	1	0
Mining exploration and research expenses	0	0
Environmental obligations and shutdown costs	0	0
Net gain on sales of assets	0	0
Operating income (loss)	267	178
Interest expense, net	1	1
Provision for (benefit from) income taxes	0	0
Total assets	2,817	2,814
Capital expenditures	47	23
Morenci [Member] \| Intersegment \| North America
Segment Reporting Information [Line Items]
Revenues	601	416
Other Individually Immaterial Operating Segments [Member] \| Operating Segments \| North America
Segment Reporting Information [Line Items]
Revenues	15	50
Production and delivery	501	409
Depreciation, depletion and amortization	48	69
Selling, general and administrative expenses	2	1
Mining exploration and research expenses	1	1
Environmental obligations and shutdown costs	0	0
Net gain on sales of assets	0	0
Operating income (loss)	152	133
Interest expense, net	0	0
Provision for (benefit from) income taxes	0	0
Total assets	4,340	4,361
Capital expenditures	45	5
Other Individually Immaterial Operating Segments [Member] \| Operating Segments \| South America
Segment Reporting Information [Line Items]
Revenues	150	112
Production and delivery	116	82
Depreciation, depletion and amortization	22	21
Selling, general and administrative expenses	0	0
Mining exploration and research expenses	0	0
Environmental obligations and shutdown costs	0	0
Net gain on sales of assets	0	0
Operating income (loss)	12	9
Interest expense, net	0	0
Provision for (benefit from) income taxes	4	3
Total assets	1,715	1,525
Capital expenditures	4	1
Other Individually Immaterial Operating Segments [Member] \| Intersegment \| North America
Segment Reporting Information [Line Items]
Revenues	689	563
Other Individually Immaterial Operating Segments [Member] \| Intersegment \| South America
Segment Reporting Information [Line Items]
Revenues	0	0
Cerro Verde [Member] \| Operating Segments \| South America
Segment Reporting Information [Line Items]
Revenues	625	640
Production and delivery	427	391
Depreciation, depletion and amortization	105	112
Selling, general and administrative expenses	2	2
Mining exploration and research expenses	0	0
Environmental obligations and shutdown costs	0	0
Net gain on sales of assets	0	0
Operating income (loss)	193	251
Interest expense, net	17	16
Provision for (benefit from) income taxes	68	98
Total assets	8,740	9,081
Capital expenditures	63	14
Cerro Verde [Member] \| Intersegment \| South America
Segment Reporting Information [Line Items]
Revenues	102	116
Grasberg Segment [Member]
Segment Reporting Information [Line Items]
Capital expenditures	203	244
Grasberg Segment [Member] \| Operating Segments \| Indonesia
Segment Reporting Information [Line Items]
Revenues	1,521	534
Production and delivery	457	270
Depreciation, depletion and amortization	181	83
Selling, general and administrative expenses	39	30
Mining exploration and research expenses	0	0
Environmental obligations and shutdown costs	0	0
Net gain on sales of assets	0	0
Operating income (loss)	896	151
Interest expense, net	0	0
Provision for (benefit from) income taxes	401	67
Total assets	10,992	10,418
Capital expenditures	203	244
Grasberg Segment [Member] \| Intersegment \| Indonesia
Segment Reporting Information [Line Items]
Revenues	52	0
Molybdenum [Member]
Segment Reporting Information [Line Items]
Capital expenditures	1	1
Molybdenum [Member] \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	0	0
Production and delivery	67	52
Depreciation, depletion and amortization	19	19
Selling, general and administrative expenses	0	0
Mining exploration and research expenses	0	0
Environmental obligations and shutdown costs	0	0
Net gain on sales of assets	0	0
Operating income (loss)	9	(8)
Interest expense, net	0	0
Provision for (benefit from) income taxes	0	0
Total assets	1,836	1,917
Capital expenditures	1	1
Molybdenum [Member] \| Intersegment
Segment Reporting Information [Line Items]
Revenues	95	63
Rod and Refining Segment [Member] \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	1,385	1,107
Production and delivery	1,388	1,109
Depreciation, depletion and amortization	2	2
Selling, general and administrative expenses	0	0
Mining exploration and research expenses	0	0
Environmental obligations and shutdown costs	0	0
Net gain on sales of assets	0	0
Operating income (loss)	3	4
Interest expense, net	0	0
Provision for (benefit from) income taxes	0	0
Total assets	290	261
Capital expenditures	1	1
Rod and Refining Segment [Member] \| Intersegment
Segment Reporting Information [Line Items]
Revenues	8	8
Atlantic Copper Smelting and Refining Segment [Member] \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	577	458
Production and delivery	556	436
Depreciation, depletion and amortization	7	7
Selling, general and administrative expenses	6	5
Mining exploration and research expenses	0	0
Environmental obligations and shutdown costs	0	0
Net gain on sales of assets	0	0
Operating income (loss)	10	10
Interest expense, net	5	4
Provision for (benefit from) income taxes	1	1
Total assets	809	652
Capital expenditures	4	8
Atlantic Copper Smelting and Refining Segment [Member] \| Intersegment
Segment Reporting Information [Line Items]
Revenues	2	0
Corporate And Eliminations [Member] \| Intersegment
Segment Reporting Information [Line Items]
Revenues	$ (1,549)	$ (1,166)

Guarantor Financial Statements (Unaudited) Guarantor Financial Statements (Details)	Mar. 31, 2018
FM O&G LLC Guarantor [Member]
Condensed Financial Statements, Captions [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent	10000.00%

Guarantor Financial Statements (Unaudited) Condensed Consolidating Balance Sheets (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
ASSETS
Current assets, other than assets held-for-sale	$ 10,106	$ 10,779
Property, plant, equipment and mine development costs, net	22,792	22,844
Investments in consolidated subsidiaries	0	0
Other assets	3,739	3,679
Total assets	36,637	37,302	$ 36,576
LIABILITIES AND EQUITY
Current liabilities, other than liabilities held for sale	4,344	5,038
Long-term debt, less current portion	11,123	11,703
Deferred income taxes	3,642	3,622
Environmental and asset retirement obligations, less current portion	3,630	3,631
Investments in consolidated subsidiaries	0	0
Other liabilities	1,972	2,012
Total liabilities	24,711	26,006
Equity:
Stockholders' equity	8,656	7,977
Noncontrolling interests	3,270	3,319
Total equity	11,926	11,296
Total liabilities and equity	36,637	37,302
Eliminations [Member]
ASSETS
Current assets, other than assets held-for-sale	(1,164)	(790)
Property, plant, equipment and mine development costs, net	(9)	(10)
Investments in consolidated subsidiaries	(18,668)	(19,570)
Other assets	(111)	(491)
Total assets	(19,952)	(20,861)
LIABILITIES AND EQUITY
Current liabilities, other than liabilities held for sale	(1,225)	(938)
Long-term debt, less current portion	(10,058)	(10,270)
Deferred income taxes	0	0
Environmental and asset retirement obligations, less current portion	0	0
Investments in consolidated subsidiaries	(11,198)	(11,250)
Other liabilities	(3,486)	(3,488)
Total liabilities	(25,967)	(25,946)
Equity:
Stockholders' equity	5,437	4,480
Noncontrolling interests	578	605
Total equity	6,015	5,085
Total liabilities and equity	(19,952)	(20,861)
FCX Issuer [Member] \| Reportable Legal Entities [Member]
ASSETS
Current assets, other than assets held-for-sale	544	75
Property, plant, equipment and mine development costs, net	14	14
Investments in consolidated subsidiaries	18,668	19,570
Other assets	561	943
Total assets	19,787	20,602
LIABILITIES AND EQUITY
Current liabilities, other than liabilities held for sale	621	1,683
Long-term debt, less current portion	9,594	10,021
Deferred income taxes	745	748
Environmental and asset retirement obligations, less current portion	0	0
Investments in consolidated subsidiaries	0	0
Other liabilities	171	173
Total liabilities	11,131	12,625
Equity:
Stockholders' equity	8,656	7,977
Noncontrolling interests	0	0
Total equity	8,656	7,977
Total liabilities and equity	19,787	20,602
FM O&G LLC Guarantor [Member] \| Reportable Legal Entities [Member]
ASSETS
Current assets, other than assets held-for-sale	714	671
Property, plant, equipment and mine development costs, net	7	11
Investments in consolidated subsidiaries	0	0
Other assets	34	48
Total assets	755	730
LIABILITIES AND EQUITY
Current liabilities, other than liabilities held for sale	117	220
Long-term debt, less current portion	6,574	6,512
Deferred income taxes	0	0
Environmental and asset retirement obligations, less current portion	203	201
Investments in consolidated subsidiaries	860	853
Other liabilities	3,339	3,340
Total liabilities	11,093	11,126
Equity:
Stockholders' equity	(10,338)	(10,396)
Noncontrolling interests	0	0
Total equity	(10,338)	(10,396)
Total liabilities and equity	755	730
Non-Guarantor Subsidiaries [Member] \| Reportable Legal Entities [Member]
ASSETS
Current assets, other than assets held-for-sale	10,012	10,823
Property, plant, equipment and mine development costs, net	22,780	22,829
Investments in consolidated subsidiaries	0	0
Other assets	3,255	3,179
Total assets	36,047	36,831
LIABILITIES AND EQUITY
Current liabilities, other than liabilities held for sale	4,831	4,073
Long-term debt, less current portion	5,013	5,440
Deferred income taxes	2,897	2,874
Environmental and asset retirement obligations, less current portion	3,427	3,430
Investments in consolidated subsidiaries	10,338	10,397
Other liabilities	1,948	1,987
Total liabilities	28,454	28,201
Equity:
Stockholders' equity	4,901	5,916
Noncontrolling interests	2,692	2,714
Total equity	7,593	8,630
Total liabilities and equity	$ 36,047	$ 36,831

Guarantor Financial Statements (Unaudited) Condensed Consolidating Statements of Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues	$ 4,868	$ 3,341
Total costs and expenses	3,409	2,744
Operating income (loss)	1,459	597
Interest expense, net	(151)	(167)
Other Nonoperating Income (Expense)	28	8
Income from continuing operations before income taxes and equity in affiliated companies’ net (losses) earnings	1,336	438
Provision for income taxes	(506)	(174)
Equity in affiliated companies’ net earnings (losses)	(2)	4
Net income from continuing operations	828	268
Net (loss) income from discontinued operations	(11)	38
Net income (loss)	817	306
Net income from continuing operations attributable to noncontrolling interests	125	75
Discontinued operations	0	(3)
Net income attributable to common stockholders	692	228
Other comprehensive income (loss)	12	11
Total comprehensive income (loss)	704	239
Eliminations [Member]
Revenues	0	0
Total costs and expenses	(1)	2
Operating income (loss)	1	(2)
Interest expense, net	102	79
Other Nonoperating Income (Expense)	(102)	(79)
Income from continuing operations before income taxes and equity in affiliated companies’ net (losses) earnings	1	(2)
Provision for income taxes	0	1
Equity in affiliated companies’ net earnings (losses)	(749)	(320)
Net income from continuing operations	(748)	(321)
Net (loss) income from discontinued operations	0	0
Net income (loss)	(748)	(321)
Net income from continuing operations attributable to noncontrolling interests	54	10
Discontinued operations		0
Net income attributable to common stockholders	(802)	(331)
Other comprehensive income (loss)	(12)	(11)
Total comprehensive income (loss)	(814)	(342)
FCX Issuer [Member] \| Reportable Legal Entities [Member]
Revenues	0	0
Total costs and expenses	9	8
Operating income (loss)	(9)	(8)
Interest expense, net	(104)	(122)
Other Nonoperating Income (Expense)	101	78
Income from continuing operations before income taxes and equity in affiliated companies’ net (losses) earnings	(12)	(52)
Provision for income taxes	(83)	(60)
Equity in affiliated companies’ net earnings (losses)	787	340
Net income from continuing operations	692	228
Net (loss) income from discontinued operations	0	0
Net income (loss)	692	228
Net income from continuing operations attributable to noncontrolling interests	0	0
Discontinued operations		0
Net income attributable to common stockholders	692	228
Other comprehensive income (loss)	12	11
Total comprehensive income (loss)	704	239
FM O&G LLC Guarantor [Member] \| Reportable Legal Entities [Member]
Revenues	15	13
Total costs and expenses	8	50
Operating income (loss)	7	(37)
Interest expense, net	(64)	(53)
Other Nonoperating Income (Expense)	0	0
Income from continuing operations before income taxes and equity in affiliated companies’ net (losses) earnings	(57)	(90)
Provision for income taxes	12	31
Equity in affiliated companies’ net earnings (losses)	(6)	20
Net income from continuing operations	(51)	(39)
Net (loss) income from discontinued operations	0	0
Net income (loss)	(51)	(39)
Net income from continuing operations attributable to noncontrolling interests	0	0
Discontinued operations		0
Net income attributable to common stockholders	(51)	(39)
Other comprehensive income (loss)	0	0
Total comprehensive income (loss)	(51)	(39)
Non-Guarantor Subsidiaries [Member] \| Reportable Legal Entities [Member]
Revenues	4,853	3,328
Total costs and expenses	3,393	2,684
Operating income (loss)	1,460	644
Interest expense, net	(85)	(71)
Other Nonoperating Income (Expense)	29	9
Income from continuing operations before income taxes and equity in affiliated companies’ net (losses) earnings	1,404	582
Provision for income taxes	(435)	(146)
Equity in affiliated companies’ net earnings (losses)	(34)	(36)
Net income from continuing operations	935	400
Net (loss) income from discontinued operations	(11)	38
Net income (loss)	924	438
Net income from continuing operations attributable to noncontrolling interests	71	65
Discontinued operations		(3)
Net income attributable to common stockholders	853	370
Other comprehensive income (loss)	12	11
Total comprehensive income (loss)	$ 865	$ 381

Guarantor Financial Statements (Unaudited) Condensed Consolidating Statements of Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	Dec. 31, 2016
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year	$ 3,952	$ 4,163	$ 4,631	$ 4,403
Cash flow from operating activities:
Net cash provided by operating activities	1,369	792
Cash flow from investing activities:
Capital expenditures	(402)	(344)
Intercompany loans	0	0
Dividends from (investments in) consolidated subsidiaries	0	0
Asset sales and other, net	(90)	(17)
Net cash used in investing activities	(492)	(361)
Cash flow from financing activities:
Proceeds from debt	122	157
Repayments of debt	(1,633)	(815)
Intercompany loans	0	0
Cash dividends paid and contributions received, net	(80)	(16)
Other, net	3	(5)
Net cash used in financing activities	(1,588)	(679)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect	(711)	(248)
Increase (Decrease) In Cash And Cash Equivalents In Assets Held For Sale	32	8
Eliminations [Member]
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year	0	0	0	0
Cash flow from operating activities:
Net cash provided by operating activities	0	0
Cash flow from investing activities:
Capital expenditures	0	0
Intercompany loans	184	277
Dividends from (investments in) consolidated subsidiaries	(1,769)	(920)
Asset sales and other, net	0	0
Net cash used in investing activities	(1,585)	(643)
Cash flow from financing activities:
Proceeds from debt	0	0
Repayments of debt	0	0
Intercompany loans	(184)	(277)
Cash dividends paid and contributions received, net	1,755	880
Other, net	14	40
Net cash used in financing activities	1,585	643
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect	0	0
Increase (Decrease) In Cash And Cash Equivalents In Assets Held For Sale	0	0
Reportable Legal Entities [Member] \| FCX Issuer [Member]
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year	0	0	0	0
Cash flow from operating activities:
Net cash provided by operating activities	(156)	(112)
Cash flow from investing activities:
Capital expenditures	0	0
Intercompany loans	(184)	(277)
Dividends from (investments in) consolidated subsidiaries	1,746	894
Asset sales and other, net	0	0
Net cash used in investing activities	1,562	617
Cash flow from financing activities:
Proceeds from debt	0	0
Repayments of debt	(1,409)	(499)
Intercompany loans	0	0
Cash dividends paid and contributions received, net	0	(1)
Other, net	3	(5)
Net cash used in financing activities	(1,406)	(505)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect	0	0
Increase (Decrease) In Cash And Cash Equivalents In Assets Held For Sale	0	0
Reportable Legal Entities [Member] \| Guarantor Subsidiaries [Member]
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year	0	8	8	11
Cash flow from operating activities:
Net cash provided by operating activities	(70)	(200)
Cash flow from investing activities:
Capital expenditures	0	(10)
Intercompany loans	0	0
Dividends from (investments in) consolidated subsidiaries	0	0
Asset sales and other, net	0	(23)
Net cash used in investing activities	0	(33)
Cash flow from financing activities:
Proceeds from debt	0	0
Repayments of debt	0	0
Intercompany loans	62	236
Cash dividends paid and contributions received, net	0	0
Other, net	0	(6)
Net cash used in financing activities	62	230
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect	(8)	(3)
Increase (Decrease) In Cash And Cash Equivalents In Assets Held For Sale	0	0
Reportable Legal Entities [Member] \| Non-Guarantor Subsidiaries [Member]
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year	3,952	4,155	$ 4,623	$ 4,392
Cash flow from operating activities:
Net cash provided by operating activities	1,595	1,104
Cash flow from investing activities:
Capital expenditures	(402)	(334)
Intercompany loans	0	0
Dividends from (investments in) consolidated subsidiaries	23	26
Asset sales and other, net	(90)	6
Net cash used in investing activities	(469)	(302)
Cash flow from financing activities:
Proceeds from debt	122	157
Repayments of debt	(224)	(316)
Intercompany loans	122	41
Cash dividends paid and contributions received, net	(1,835)	(895)
Other, net	(14)	(34)
Net cash used in financing activities	(1,829)	(1,047)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect	(703)	(245)
Increase (Decrease) In Cash And Cash Equivalents In Assets Held For Sale	$ 32	$ 8

New Accounting Standard (Unaudited) Restricted Cash ASU (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Payments for (Proceeds from) Other Investing Activities	$ (90)	$ (17)
Net Cash Provided by (Used in) Investing Activities	(492)	(361)
Cash and Cash Equivalents, Period Increase (Decrease)	(711)	(248)
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year	4,631	4,403
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	3,702
Scenario, Previously Reported [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Payments for (Proceeds from) Other Investing Activities		(21)
Net Cash Provided by (Used in) Investing Activities		(365)
Cash and Cash Equivalents, Period Increase (Decrease)		(252)
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year	4,001	4,245
Accounting Standards Update 2016-18 [Member] \| Restatement Adjustment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Payments for (Proceeds from) Other Investing Activities		4
Net Cash Provided by (Used in) Investing Activities		4
Cash and Cash Equivalents, Period Increase (Decrease)		4
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year	$ 162	$ 158

New Accounting Standard (Unaudited) Pension/Postretirement ASU (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Mineral Extraction Processing and Marketing Costs	$ 2,808	$ 2,188
Cost of Revenue	3,259	2,577
Selling, general and administrative expenses	131	151
Mining exploration and research expenses	21	14
Environmental obligations and shutdown costs	9	25
Costs and Expenses	3,409	2,744
Operating income (loss)	1,459	597
Other Nonoperating Income (Expense)	$ 28	8
Scenario, Previously Reported [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Mineral Extraction Processing and Marketing Costs		2,200
Cost of Revenue		2,589
Selling, general and administrative expenses		153
Mining exploration and research expenses		15
Environmental obligations and shutdown costs		27
Costs and Expenses		2,761
Operating income (loss)		580
Other Nonoperating Income (Expense)		25
Accounting Standards Update 2017-05 [Member] \| Restatement Adjustment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Mineral Extraction Processing and Marketing Costs		(12)
Cost of Revenue		(12)
Selling, general and administrative expenses		(2)
Mining exploration and research expenses		(1)
Environmental obligations and shutdown costs		(2)
Costs and Expenses		(17)
Operating income (loss)		17
Other Nonoperating Income (Expense)		$ (17)