FREEPORT-MCMORAN INC, 10-Q filed on 11/6/2025
Quarterly Report
v3.25.3
Cover Page - shares
 9 Months Ended
Sep. 30, 2025
Oct. 31, 2025
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Sep. 30, 2025  
Document Transition Report false  
Entity File Number 001-11307-01  
Entity Registrant Name Freeport-McMoRan Inc.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 74-2480931  
Entity Address, Address Line One 333 North Central Avenue  
Entity Address, City or Town Phoenix  
Entity Address, State or Province AZ  
Entity Address, Postal Zip Code 85004-2189  
City Area Code (602)  
Local Phone Number 366-8100  
Title of 12(b) Security Common Stock, par value $0.10 per share  
Trading Symbol FCX  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   1,435,930,660
Entity Central Index Key 0000831259  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q3  
Amendment Flag false  
v3.25.3
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 4,318 $ 3,923
Restricted cash and cash equivalents 230 888
Trade accounts receivable 916 578
Value added and other tax receivables 548 564
Inventories:    
Product 2,864 3,038
Materials and supplies, net 2,633 2,382
Mill and leach stockpiles 1,501 1,388
Other current assets 554 535
Total current assets 13,564 13,296
Property, plant, equipment and mine development costs, net 40,257 38,514
Long-term mill and leach stockpiles 1,091 1,225
Other assets 1,916 1,813
Total assets 56,828 54,848
Current liabilities:    
Accounts payable and accrued liabilities 4,098 4,057
Accrued income taxes 528 859
Current portion of debt 383 41
Current portion of environmental and asset retirement obligations 299 320
Dividends payable 218 219
Total current liabilities 5,526 5,496
Long-term debt, less current portion 8,915 8,907
Environmental and asset retirement obligations, less current portion 5,457 5,404
Deferred income taxes 4,359 4,376
Other liabilities 2,174 1,887
Total liabilities 26,431 26,070
Stockholders’ equity:    
Common stock 163 162
Capital in excess of par value 23,660 23,797
Retained earnings (accumulated deficit) 1,196 (170)
Accumulated other comprehensive loss (310) (314)
Common stock held in treasury (6,024) (5,894)
Total stockholders’ equity 18,685 17,581
Noncontrolling interests 11,712 11,197
Total equity 30,397 28,778
Total liabilities and equity $ 56,828 $ 54,848
v3.25.3
Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Income Statement [Abstract]        
Revenues $ 6,972 $ 6,790 $ 20,282 $ 19,735
Cost of sales:        
Production and delivery 4,205 4,077 12,243 11,796
Depreciation, depletion and amortization 625 600 1,759 1,704
Total cost of sales 4,830 4,677 14,002 13,500
Selling, general and administrative expenses 131 117 412 384
Exploration and research expenses 55 38 140 115
Environmental obligations and shutdown costs 0 20 37 115
Gain on sales of assets (16) 0 (16) 0
Total costs and expenses 5,000 4,852 14,575 14,114
Operating income 1,972 1,938 5,707 5,621
Interest expense, net (107) (72) (259) (249)
Other income, net 59 97 158 295
Income before income taxes and equity in affiliated companies’ net (losses) earnings 1,924 1,963 5,606 5,667
Provision for income taxes (669) (737) (2,019) (2,003)
Equity in affiliated companies’ net (losses) earnings (8) 10 0 14
Net income 1,247 1,236 3,587 3,678
Net income (loss) attributable to noncontrolling interests 573 710 1,789 2,063
Net income attributable to common stockholders $ 674 $ 526 $ 1,798 $ 1,615
Net income per share attributable to common stockholders:        
Earnings per share, basic (in dollars per share) $ 0.46 $ 0.36 $ 1.25 $ 1.12
Earnings per share, diluted (in dollars per share) $ 0.46 $ 0.36 $ 1.24 $ 1.11
Weighted-average shares of common stock outstanding:        
Basic weighted-average shares of common stock outstanding 1,437 1,438 1,437 1,438
Diluted weighted-average shares of common shares outstanding 1,443 1,444 1,443 1,445
Dividends declared per share of common stock (in dollars per share) $ 0.15 $ 0.15 $ 0.45 $ 0.45
v3.25.3
Consolidated Statements of Comprehensive Income (Loss) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Statement of Comprehensive Income [Abstract]        
Net income $ 1,247 $ 1,236 $ 3,587 $ 3,678
Defined benefit plans:        
Amortization of unrecognized amounts included in net periodic benefit costs 1 0 4 1
Foreign exchange gains 0 1 0 0
Other comprehensive income 1 1 4 1
Total comprehensive income 1,248 1,237 3,591 3,679
Total comprehensive income attributable to noncontrolling interests (573) (710) (1,789) (2,063)
Total comprehensive income (loss) $ 675 $ 527 $ 1,802 $ 1,616
v3.25.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flow from operating activities:    
Net income $ 3,587 $ 3,678
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 1,759 1,704
Gain on sales of assets (16) 0
Net charges for environmental and asset retirement obligations, including accretion 166 382
Payments for environmental and asset retirement obligations (177) (157)
Stock-based compensation 98 94
Net charges for defined pension and postretirement plans 43 29
Pension plan contributions (29) (58)
Deferred income taxes (16) 36
Charges for social investment programs at PT Freeport Indonesia 77 81
Payments for social investment programs at PT Freeport Indonesia (44) (50)
Other, net (21) 14
Changes in working capital and other:    
Accounts receivable (433) 93
Inventories (113) (301)
Other current assets 46 (24)
Accounts payable and accrued liabilities 283 (79)
Accrued income taxes and timing of other tax payments (293) 282
Net cash provided by operating activities 4,917 5,724
Cash flow from investing activities:    
Capital expenditures (3,489) (3,569)
PT Freeport Indonesia smelter fire insurance recoveries 25 0
Acquisition of additional ownership interest in Cerro Verde 0 (210)
Loans to PT Smelting for expansion 0 (28)
Proceeds from sales of assets and other, net (22) (10)
Net cash used in investing activities (3,442) (3,797)
Cash flow from financing activities:    
Proceeds from debt 2,180 1,948
Repayments of debt (1,843) (1,699)
Finance lease payments (24) (38)
Cash dividends and distributions paid:    
Common stock (649) (649)
Noncontrolling interests (1,274) (1,269)
Treasury stock purchases (107) (59)
Proceeds from exercised stock options 6 27
Payments for withholding of employee taxes related to stock-based awards (22) (35)
Net cash used in financing activities (1,733) (1,774)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect (258) 153
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year 4,911 6,063
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period 4,653 6,216
North America Copper Mines Segment    
Cash flow from investing activities:    
Capital expenditures (843) (743)
South America Mines Segment    
Cash flow from investing activities:    
Capital expenditures (287) (272)
Indonesia Segment    
Cash flow from investing activities:    
Capital expenditures (1,927) (2,203)
Molybdenum    
Cash flow from investing activities:    
Capital expenditures (74) (88)
Other Operating Segment    
Cash flow from investing activities:    
Capital expenditures $ (358) $ (263)
v3.25.3
Consolidated Statement of Equity (Unaudited) - USD ($)
shares in Millions, $ in Millions
Total
Common Stock
Capital in Excess of Par Value
Accumulated Deficit
AOCI Attributable to Parent
Common Stock Held in Treasury
Total Stockholder's Equity
Noncontrolling Interests
Balance (in shares) at Dec. 31, 2023   1,619.0            
Beginning balance (in shares) at Dec. 31, 2023           184.0    
Balance at Dec. 31, 2023 $ 27,310 $ 162 $ 24,637 $ (2,059) $ (274) $ (5,773) $ 16,693 $ 10,617
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Exercised and issued stock-based awards (in shares)   5.0       1.0    
Exercised and issued stock-based awards 26   54     $ (28) 26  
Stock-based compensation, including the tender of shares (in shares)           1.0    
Stock-based compensation, including the tender of shares 41   77     $ (34) 43 (2)
Treasury stock purchases (in shares)           1.0    
Treasury stock purchases (59)         $ (59) (59)  
Acquisition of additional ownership interest in Cerro Verde (215)   (125)       (125) (90)
Dividends (1,918)   (649)       (649) (1,269)
Change in consolidated subsidiary ownership interests (2)   (3)       (3) (1)
Net loss attributable to common stockholders 1,615     1,615     1,615  
Net income (loss) attributable to noncontrolling interests 2,063             2,063
Other comprehensive income 1       1   1 0
Balance (in shares) at Sep. 30, 2024   1,624.0            
Ending balance (in shares) at Sep. 30, 2024           187.0    
Balance at Sep. 30, 2024 28,866 $ 162 23,997 (444) (273) $ (5,894) 17,548 11,318
Balance (in shares) at Jun. 30, 2024   1,624.0            
Beginning balance (in shares) at Jun. 30, 2024           186.0    
Balance at Jun. 30, 2024 28,686 $ 162 24,321 (970) (274) $ (5,835) 17,404 11,282
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Exercised and issued stock-based awards 1   1       1  
Stock-based compensation, including the tender of shares 14   13       13 1
Treasury stock purchases (in shares)           1.0    
Treasury stock purchases (59)         $ (59) (59)  
Acquisition of additional ownership interest in Cerro Verde (215)   (125)       (125) (90)
Dividends (800)   (216)       (216) (584)
Change in consolidated subsidiary ownership interests (2)   (3)       (3) (1)
Net loss attributable to common stockholders 526     526     526  
Net income (loss) attributable to noncontrolling interests 710             710
Other comprehensive income 1       1   1 0
Balance (in shares) at Sep. 30, 2024   1,624.0            
Ending balance (in shares) at Sep. 30, 2024           187.0    
Balance at Sep. 30, 2024 28,866 $ 162 23,997 (444) (273) $ (5,894) 17,548 11,318
Balance (in shares) at Dec. 31, 2024   1,624.0            
Beginning balance (in shares) at Dec. 31, 2024           187.0    
Balance at Dec. 31, 2024 28,778 $ 162 23,797 (170) (314) $ (5,894) 17,581 11,197
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Exercised and issued stock-based awards (in shares)   2.0            
Exercised and issued stock-based awards 5 $ 1 4       5  
Stock-based compensation, including the tender of shares (in shares)           1.0    
Stock-based compensation, including the tender of shares $ 50   75     $ (23) 52 (2)
Treasury stock purchases (in shares) 2.9         3.0    
Treasury stock purchases $ (107)         $ (107) (107)  
Dividends (1,922)   (216) (432)     (648) (1,274)
Contributions from noncontrolling interests 2             2
Net loss attributable to common stockholders 1,798     1,798     1,798  
Net income (loss) attributable to noncontrolling interests 1,789             1,789
Other comprehensive income 4       4   4  
Balance (in shares) at Sep. 30, 2025   1,626.0            
Ending balance (in shares) at Sep. 30, 2025           191.0    
Balance at Sep. 30, 2025 30,397 $ 163 23,660 1,196 (310) $ (6,024) 18,685 11,712
Balance (in shares) at Jun. 30, 2025   1,626.0            
Beginning balance (in shares) at Jun. 30, 2025           191.0    
Balance at Jun. 30, 2025 29,996 $ 163 23,642 738 (311) $ (6,024) 18,208 11,788
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Exercised and issued stock-based awards 3   3       3  
Stock-based compensation, including the tender of shares 13   15       15 (2)
Dividends (865)     (216)     (216) (649)
Contributions from noncontrolling interests 2             2
Net loss attributable to common stockholders 674     674     674  
Net income (loss) attributable to noncontrolling interests 573             573
Other comprehensive income 1       1   1  
Balance (in shares) at Sep. 30, 2025   1,626.0            
Ending balance (in shares) at Sep. 30, 2025           191.0    
Balance at Sep. 30, 2025 $ 30,397 $ 163 $ 23,660 $ 1,196 $ (310) $ (6,024) $ 18,685 $ 11,712
v3.25.3
General Information
 9 Months Ended
Sep. 30, 2025
General Information [Abstract]  
General Information GENERAL INFORMATION
The accompanying unaudited consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and do not include all information and disclosures required by generally accepted accounting principles in the United States (U.S.). Therefore, this information should be read in conjunction with Freeport-McMoRan Inc.’s (FCX) consolidated financial statements and notes contained in its annual report on Form 10-K for the year ended December 31, 2024 (2024 Form 10-K). The information furnished herein reflects all adjustments that are, in the opinion of management, necessary for a fair statement of the results for the interim periods reported. All such adjustments are, in the opinion of management, of a normal recurring nature. Operating results for the nine-month period ended September 30, 2025, are not necessarily indicative of the results that may be expected for the year ending December 31, 2025. Dollar amounts in tables are stated in millions, except per share amounts.

Subsequent Events. FCX evaluated events after September 30, 2025, and through the date the consolidated financial statements were issued and determined any events and transactions occurring during this period that would require recognition or disclosure are appropriately addressed in these consolidated financial statements.
v3.25.3
Earnings per Share
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Earnings Per Share EARNINGS PER SHARE
FCX calculates its basic net income per share of common stock under the two-class method and calculates its diluted net income per share of common stock using the more dilutive of the two-class method or the treasury-stock method. Basic net income per share of common stock was computed by dividing net income attributable to common stockholders (after deducting accumulated undistributed dividends and earnings allocated to participating securities) by the weighted-average shares of common stock outstanding during the period. Diluted net income per share of common stock was calculated by including the basic weighted-average shares of common stock outstanding adjusted for the effects of all potential dilutive shares of common stock, unless their effect would be antidilutive.

Reconciliations of net income and weighted-average shares of common stock outstanding for purposes of calculating basic and diluted net income per share follow:
Three Months EndedNine Months Ended
September 30,September 30,
 2025202420252024
Net income$1,247 $1,236 $3,587 $3,678 
Net income attributable to noncontrolling interests(573)(710)(1,789)(2,063)
Undistributed dividends and earnings allocated to participating securities(7)(6)(7)(6)
Net income attributable to common stockholders$667 $520 $1,791 $1,609 
Basic weighted-average shares of common stock outstanding
1,437 1,438 1,437 1,438 
Add shares issuable upon exercise or vesting of dilutive stock options and restricted stock units6 6 6 7 
Diluted weighted-average shares of common stock outstanding
1,443 1,444 1,443 1,445 
Net income per share attributable to common stockholders:
Basic$0.46 $0.36 $1.25 $1.12 
Diluted$0.46 $0.36 $1.24 $1.11 
Shares associated with outstanding stock options with exercise prices greater than the average market price of FCX’s common stock during the period are excluded from the computation of diluted net income per share of common stock. There were no shares of common stock associated with outstanding stock options excluded in any of the periods shown above.
v3.25.3
Income Taxes
 9 Months Ended
Sep. 30, 2025
Income Tax Disclosure [Abstract]  
Income Taxes INCOME TAXES
Geographic sources of FCX’s (provision) benefit for income taxes follow:
Nine Months Ended
September 30,
 20252024
U.S.$(4)

$30 
International(2,015)(2,033)
Total$(2,019)$(2,003)


FCX’s consolidated effective income tax rate is a function of the various rates in the jurisdictions where it operates and was 36% for the first nine months of 2025 and 35% for the first nine months of 2024. The provision for income taxes for the first nine months of 2024 included net benefits of $182 million related to closure of PT Freeport Indonesia’s (PTFI) 2021 corporate income tax audit and resolution of the framework for disputed tax matters.

During the first nine months of 2025 and 2024, FCX’s U.S. operations projected full-year net losses that would not result in a realized tax benefit; accordingly, applicable accounting rules required FCX to adjust its estimated annual effective tax rate to exclude the impact of U.S. net losses.

On July 4, 2025, the President signed into law H.R.1 (also referred to as the One Big Beautiful Bill Act), which includes a broad range of tax reform provisions affecting businesses, including extending and modifying certain provisions of the Tax Cuts & Jobs Act of 2017. FCX does not expect H.R.1 to have a material impact on its consolidated financial results.
v3.25.3
Debt and Equity
 9 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
Debt and Equity DEBT AND EQUITY
The components of debt follow:
 September 30,
2025		December 31, 2024
PTFI revolving credit facility$250 $250 
Senior notes and debentures:
Issued by FCX5,285 5,281 
Issued by PTFI2,985 2,983 
Issued by Freeport Minerals Corporation352 353 
Atlantic Coppera
403 57 
Other23 24 
Total debt9,298 8,948 
Less current portion of debt(383)(41)
Long-term debt$8,915 $8,907 
a.Includes short-term lines of credit used for working capital requirements, with interest rates primarily based on the Secured Overnight Financing Rate plus a spread.

Revolving Credit Facilities. FCX and PTFI have a $3.0 billion, unsecured revolving credit facility that matures in October 2027. Under the terms of the revolving credit facility, FCX may obtain loans and issue letters of credit in an aggregate amount of up to $3.0 billion, with a $1.5 billion sublimit on the issuance of letters of credit and a $500 million limit on PTFI’s borrowing capacity. At September 30, 2025, there were no borrowings and $5 million in letters of credit issued under FCX’s revolving credit facility.

At September 30, 2025, PTFI had $250 million in borrowings outstanding under its $1.75 billion unsecured revolving credit facility that matures in November 2028, and Cerro Verde had no borrowings outstanding under its $350 million unsecured revolving credit facility that matures in May 2027.
At September 30, 2025, FCX, PTFI and Cerro Verde were in compliance with each of their respective credit facility’s covenants.
Interest Expense, Net. Consolidated interest costs (before capitalization) totaled $182 million in third-quarter 2025, $173 million in third-quarter 2024, $537 million for the first nine months of 2025 and $529 million for the first nine months of 2024.

Capitalized interest, which primarily related to FCX’s mining operations’ capital projects, including construction and development of PTFI’s new smelter and precious metals refinery (collectively, PTFI’s downstream processing facilities), totaled $75 million in third-quarter 2025, $101 million in third-quarter 2024, $278 million for the first nine months of 2025 and $280 million for the first nine months of 2024.

Share Repurchase Program and Dividends. During the first nine months of 2025, FCX acquired 2.9 million shares of its common stock for a total cost of $107 million ($36.41 average cost per share). As of October 31, 2025, FCX has acquired a total of 52 million shares ($38.51 average cost per share) and has $3.0 billion available under its current share repurchase program.

On September 24, 2025, FCX’s Board of Directors (Board) declared cash dividends totaling $0.15 per share on its common stock (including a $0.075 per share quarterly base cash dividend and a $0.075 per share quarterly variable, performance-based cash dividend), which were paid on November 3, 2025, to shareholders of record as of October 15, 2025.

The declaration and payment of dividends (base or variable) and timing and amount of any share repurchases are at the discretion of FCX’s Board and management, respectively, and are subject to a number of factors, including not exceeding FCX’s net debt target, capital availability, FCX’s financial results, cash requirements, global economic conditions, changes in laws, contractual restrictions and other factors deemed relevant by FCX’s Board or management, as applicable. FCX’s share repurchase program may be modified, increased, suspended or terminated at any time at the Board’s discretion.
v3.25.3
Financial Instruments
 9 Months Ended
Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Financial Instruments FINANCIAL INSTRUMENTS
FCX does not purchase, hold or sell derivative financial instruments unless there is an existing asset or obligation, or it anticipates a future activity that is likely to occur and will result in exposure to market risks, which FCX intends to offset or mitigate. FCX does not enter into any derivative financial instruments for speculative purposes but has entered into derivative financial instruments in limited instances to achieve specific objectives. These objectives principally relate to managing risks associated with commodity price changes, foreign currency exchange rates and interest rates.

Commodity Contracts. From time to time, FCX has entered into derivative contracts to hedge the market risk associated with fluctuations in the prices of commodities it purchases and sells. Derivative financial instruments used by FCX to manage its risks do not contain credit risk-related contingent provisions.

A discussion of FCX’s derivative contracts and programs follows.

Derivatives Designated as Hedging Instruments - Fair Value Hedges.
Copper Futures and Swap Contracts. Some of FCX’s North America copper rod and cathode customers request a fixed market price instead of the Commodity Exchange Inc. (COMEX) average copper price in the month of shipment. FCX hedges this price exposure in a manner that allows it to receive the COMEX average price in the month of shipment while the customers pay the fixed price they requested. FCX accomplishes this by entering into copper futures or swap contracts. Hedging gains or losses from these copper futures and swap contracts are recorded in revenues. FCX did not have any significant gains or losses resulting from hedge ineffectiveness during the nine-month periods ended September 30, 2025 and 2024. At September 30, 2025, FCX held copper futures and swap contracts that qualified for hedge accounting for 117 million pounds at an average contract price of $4.75 per pound, with maturities through September 2027.
Summary of (Losses) Gains. A summary of realized and unrealized (losses) gains recognized in revenues for derivative financial instruments related to commodity contracts that are designated and qualify as fair value hedge transactions, including on the related hedged item follows:
 Three Months EndedNine Months Ended
September 30,September 30,
 2025202420252024
Copper futures and swap contracts:  
Unrealized (losses) gains:  
Derivative financial instruments$(23)$12 $44 $22 
Hedged item – firm sales commitments23 (12)(44)(22)
Realized gains:  
Matured derivative financial instruments1 — 31 29 

Derivatives Not Designated as Hedging Instruments.
Embedded Derivatives. Certain FCX sales contracts provide for provisional pricing primarily based on the London Metal Exchange (LME) copper settlement price and the London Bullion Market Association (London) gold price at the time of shipment as specified in the contract. FCX receives market prices based on prices in the specified future month, which results in price fluctuations recorded in revenues until the date of settlement.

FCX records revenues and invoices customers at the time of shipment based on then-current LME copper settlement price and the London gold price as specified in the contracts, which results in an embedded derivative (i.e., a pricing mechanism that is finalized after the time of delivery) that is required to be bifurcated from the host contract. The host contract is the sale of the metals contained in the concentrate, cathode or anode slimes at the then-current LME copper settlement or London gold prices. FCX applies the normal purchases and normal sales scope exception in accordance with derivatives and hedge accounting guidance to the host contract in its concentrate, cathode and anode slime sales agreements because these contracts do not allow for net settlement and always result in physical delivery. The embedded derivative does not qualify for hedge accounting and is adjusted to fair value through earnings each period, using the period-end LME copper forward price and the adjusted London gold price, until the date of final pricing. Similarly, FCX purchases copper under contracts that provide for provisional pricing. Mark-to-market price fluctuations from these embedded derivatives are recorded through the settlement date and are reflected in revenues for sales contracts and in inventory for purchase contracts.

A summary of FCX’s embedded derivatives at September 30, 2025, follows:
Open PositionsAverage Price
Per Unit		Maturities Through
 ContractMarket
Embedded derivatives in provisional sales contracts:    
Copper (millions of pounds)402 $4.43 $4.65 February 2026
Gold (thousands of ounces)53 3,429 3,833 October 2025
Embedded derivatives in provisional purchase contracts:  
Copper (millions of pounds)111 4.43 4.65 December 2025

Copper Forward Contracts. Atlantic Copper, FCX’s wholly owned smelting and refining unit in Spain, enters into copper forward contracts designed to hedge its copper price risk whenever its physical purchases and sales pricing periods do not match. These economic hedge transactions are intended to hedge against changes in copper prices, with the mark-to-market hedging gains or losses recorded in production and delivery costs. At September 30, 2025, Atlantic Copper held net copper forward sales contracts for 52 million pounds at an average contract price of $4.51 per pound, with maturities through November 2025.
Summary of Gains (Losses). A summary of realized and unrealized gains (losses) recognized in operating income for commodity contracts that do not qualify as hedge transactions, including embedded derivatives, follows:
 Three Months EndedNine Months Ended
September 30,September 30,
 2025202420252024
Embedded derivatives in provisional sales contracts:a
Copper$82 $29 $232 $276 
Gold and other metals71 81 131 170 
Copper forward contractsb
(7)(19)(47)(45)
a.Amounts recorded in revenues. 
b.Amounts recorded in cost of sales as production and delivery costs.

Credit Risk. FCX is exposed to credit loss when financial institutions with which it has entered into derivative transactions (commodity, foreign exchange and interest rate swaps) are unable to pay. To minimize the risk of such losses, FCX uses counterparties that meet certain credit requirements and periodically reviews the creditworthiness of these counterparties. As of September 30, 2025, the maximum amount of credit exposure associated with derivative transactions was $131 million.

Other Financial Instruments. Other financial instruments include cash and cash equivalents, restricted cash and cash equivalents, accounts receivable, investment securities, legally restricted trust assets, accounts payable and accrued liabilities, accrued income taxes, dividends payable and debt. The carrying value for these financial instruments classified as current assets or liabilities approximates fair value because of their short-term nature and generally negligible credit losses (refer to Note 6 for the fair values of investment securities, legally restricted funds and debt).

Cash and Cash Equivalents and Restricted Cash and Cash Equivalents. The following table provides a reconciliation of total cash and cash equivalents and restricted cash and cash equivalents presented in the consolidated statements of cash flows:
September 30,
2025		December 31, 2024
Balance sheet components:
Cash and cash equivalents$4,318 $3,923 
Restricted cash and cash equivalents, current230 
a
888 
b
Restricted cash and cash equivalents, long-term - included in other assets105 100 
Total cash and cash equivalents and restricted cash and cash equivalents presented in the consolidated statements of cash flows$4,653 $4,911 
a.Reflects cash designated for talc-related litigation in accordance with a legal settlement. Refer to Note 7 for further discussion.
b.Included $0.7 billion associated with a portion of PTFI’s export proceeds required to be temporarily deposited in Indonesia banks for 90 days in accordance with a previous Indonesia regulation.
v3.25.3
Fair Value Measurement
 9 Months Ended
Sep. 30, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurement FAIR VALUE MEASUREMENT
Fair value accounting guidance includes a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). FCX does not have any significant Level 3 assets or liabilities.

FCX’s financial instruments are recorded on the consolidated balance sheets at fair value except for debt. A summary of the carrying amount and fair value of FCX’s financial instruments (including those measured at net asset value (NAV) as a practical expedient), other than cash and cash equivalents, restricted cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities, accrued income taxes and dividends payable (refer to Note 5), follows:

At September 30, 2025
 CarryingFair Value
 AmountTotalNAVLevel 1Level 2Level 3
Assets    
Investment securities:a,b
U.S. core fixed income fund$29 $29 $29 $— $— $— 
Equity securities27 27 — 27 — — 
Total56 56 29 27 — — 
Legally restricted funds:a
    
U.S. core fixed income fund70 70 70 — — — 
Government mortgage-backed securities59 59 — — 59 — 
Corporate bonds35 35 — — 35 — 
Government bonds and notes31 31 — — 31 — 
Money market funds20 20 — 20 — — 
Asset-backed securities14 14 — — 14 — 
Collateralized mortgage-backed securities1 1 — — 1 — 
Total230 230 70 20 140 — 
Derivatives:c
    
Embedded derivatives in provisional sales/purchase contracts in a gross asset position109 109 — — 109 — 
Copper futures and swap contracts18 18 — 11 7 — 
Copper forward contracts4 4 — 2 2 — 
       Total131 131 — 13 118 — 
Liabilities    
Derivatives:c
    
Embedded derivatives in provisional sales/purchase contracts in a gross liability position24 24 — — 24 — 
Copper futures and swap contracts3 3 — — 3 — 
Copper forward contracts11 11 — 6 5 — 
Total38 38 — 6 32 — 
Debtd
9,298 9,363 — — 9,363 — 
At December 31, 2024
 CarryingFair Value
 AmountTotalNAVLevel 1Level 2Level 3
Assets    
Investment securities:a,b
U.S. core fixed income fund$27 $27 $27 $— $— $— 
Equity securities9 9 — 9 — — 
Total36 36 27 9 — — 
Legally restricted funds:a
    
U.S. core fixed income fund 66 66 66 — — — 
Government mortgage-backed securities54 54 — — 54 — 
Government bonds and notes34 34 — — 34 — 
Corporate bonds31 31 — — 31 — 
Money market funds19 19 — 19 — — 
Asset-backed securities12 12 — — 12 — 
Collateralized mortgage-backed securities1 1 — — 1 — 
Total217 217 66 19 132 — 
Derivatives:c
    
Embedded derivatives in provisional sales/purchase contracts in a gross asset position10 10 — — 10 — 
Copper forward contracts10 10 — 4 6 — 
Total20 20 — 4 16 — 
Liabilities    
Derivatives:c
Embedded derivatives in provisional sales/purchase contracts in a gross liability position60 60 — — 60 — 
Copper futures and swap contracts28 28 — 17 11 — 
Copper forward contracts1 1 — 1 — — 
Total89 89 — 18 71 — 
Debtd
8,948 8,807 — — 8,807 — 
a.Current portion included in other current assets and long-term portion included in other assets.
b.Excludes restricted cash and cash equivalents (which approximated fair value), primarily associated with talc-related litigation at September 30, 2025, and PTFI’s export proceeds at December 31, 2024. Refer to Note 5.
c.Refer to Note 5 for further discussion.
d.Recorded at cost except for debt assumed in the 2007 acquisition of Freeport Minerals Corporation (FMC), which was recorded at fair value at the acquisition date.

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

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

Fixed income securities (government securities, corporate bonds, asset-backed securities and collateralized mortgage-backed securities) are valued using a bid-evaluation price or a mid-evaluation price. These evaluations are based on quoted prices, if available, or models that use observable inputs and, as such, are classified within Level 2 of the fair value hierarchy.
Money market funds are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices in active markets.

FCX’s embedded derivatives on provisional copper concentrate, copper cathode and gold purchases and sales are valued using quoted monthly LME copper forward prices and the adjusted London gold prices at each reporting date based on the month of maturity (refer to Note 5 for further discussion); however, FCX’s contracts themselves are not traded on an exchange. As a result, these derivatives are classified within Level 2 of the fair value hierarchy.

FCX’s derivative financial instruments for copper futures and swap contracts and copper forward contracts that are traded on the respective exchanges are classified within Level 1 of the fair value hierarchy because they are valued using quoted monthly COMEX or LME prices at each reporting date based on the month of maturity (refer to Note 5 for further discussion). Certain of these contracts are traded on the over-the-counter market and are classified within Level 2 of the fair value hierarchy based on COMEX and LME forward prices.

Debt is primarily valued using available market quotes and, as such, is classified within Level 2 of the fair value hierarchy.

The techniques described above may produce a fair value that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while FCX believes its valuation techniques are appropriate and consistent with other market participants, the use of different techniques or assumptions to determine fair value of certain financial instruments could result in a different fair value measurement at the reporting date. There have been no changes in the techniques used at September 30, 2025, as compared with those techniques used at December 31, 2024.
v3.25.3
Contingencies and Commitments
 9 Months Ended
Sep. 30, 2025
Commitments and Contingencies Disclosure [Abstract]  
Contingencies and Commitments CONTINGENCIES AND COMMITMENTS
Environmental
There were no significant updates to environmental obligations included in Note 10 of FCX’s 2024 Form 10-K, other than as discussed below.

As a result of the 2007 acquisition of FMC, FCX recorded FMC environmental obligations at fair value on the acquisition date in accordance with business combination accounting guidance. In connection with FCX’s ongoing review and monitoring of these environmental remediation sites, FCX identified specific projects with environmental obligations where it can no longer be concluded that a probable liability exists. Accordingly, during third-quarter 2025, FCX recorded reductions totaling $81 million to the related environmental obligations reflecting closure of these projects.

Historical Smelter Sites. In July 2025, the New Jersey Department of Environmental Protection accepted FCX’s proposal for alternative remediation standards for sediment remediation in Arthur Kill, the water body adjacent to the former Carteret smelter site, which resulted in a $46 million increase to the related environmental obligation.

In third-quarter 2025, FCX also recorded an increase to its environmental obligation associated with the Carteret smelter site totaling $19 million based on updated cost estimates for the remediation work.

Litigation
There were no significant updates to previously reported legal proceedings included in Note 10 of FCX’s 2024 Form 10-K, other than the matter discussed below.

Asbestos and Talc Claims. The claimants in both the Imerys Talc America (Imerys) and Cyprus Mines Corporation (Cyprus Mines) bankruptcy cases previously approved a global settlement, which remains subject to bankruptcy court approvals in both cases. During third-quarter 2025, the parties agreed that “foreign claimants” (as defined in the amended plan) would not be discharged. In accordance with the global settlement, as amended, Cyprus Amax Minerals Company (CAMC), an indirect wholly owned subsidiary of FCX and Cyprus Mines’ parent company, agreed to contribute $195 million in the aggregate over seven years to a proposed claimant trust. There can be no assurance that the amended plan will be approved by the bankruptcy court.

In addition, in 2024, Cyprus Mines and Imerys entered into a settlement agreement with Johnson & Johnson (J&J), which became effective in February 2025. In accordance with the settlement agreement, (i) all indemnity claims
against J&J were released, and Imerys and Cyprus Mines waived claims against insurers that could lead to the insurers asserting claims against J&J; (ii) J&J agreed to pay $505 million to Imerys and Cyprus Mines (shared 50/50 between the two parties); and (iii) J&J agreed to remit recoveries of certain legacy insurance claims to Imerys and Cyprus Mines. In accordance with the settlement, Cyprus Mines received cash of $230 million during the first nine months of 2025, with $48 million remaining to be received by early 2026. At September 30, 2025, FCX had a total litigation reserve of $477 million associated with the global settlement, including $278 million associated with the J&J settlement and $4 million for potential foreign claims.

Indonesia Matters
Refer to Notes 10, 11 and 12 of FCX’s 2024 Form 10-K for further discussion of Indonesia matters.

Grasberg Minerals District Mud Rush Incident. On September 8, 2025, PTFI experienced a mud rush incident that resulted in seven fatalities. During the incident, which was unprecedented in PTFI’s multi-decade history of block cave mining in the Grasberg minerals district, a sudden rush of approximately 800,000 metric tons of wet material entered the Grasberg Block Cave underground mine from the former Grasberg open pit and traveled rapidly to multiple levels of the mine, including a service level where seven team members were later found deceased.

Mining operations were temporarily suspended following the incident to prioritize the recovery of the seven team members fatally injured during the incident and to conduct an investigation into the root cause of the incident. The recovery efforts were completed on October 5, 2025, and the investigation is advancing toward completion. Damage assessments, which are expected to be completed by year-end 2025, are being conducted in parallel with ongoing mud removal activities.

In late October 2025, PTFI restarted operations at the unaffected Big Gossan and Deep Mill Level Zone underground mines.

Smelting operations in Indonesia operated with limited availability since the incident and both smelters are currently on stand-by status pending the delivery of copper concentrate.

FCX and PTFI, including external experts, are completing an investigation of the root cause of the incident and to identify actions required to safeguard against recurrence. In parallel, and in coordination with Indonesia government authorities, future production plans are being evaluated and damage assessments are being completed.

During third-quarter 2025, PTFI recorded charges totaling $195 million associated with the mud rush incident, including $152 million for idle facility costs and $43 million related to recovery efforts. During the phased restart and ramp-up of operations in fourth-quarter 2025 and in 2026, a portion of PTFI’s cost of sales are expected to be recognized as idle facility costs, which are non-inventoriable costs.

As of September 30, 2025, PTFI had limited access to the area where the incident occurred and was unable to adequately assess damage to the impacted assets. Accordingly, no impairment charges were recorded in third-quarter 2025. Upon completion of damage assessments and evaluation of the affected infrastructure in fourth-quarter 2025, PTFI expects to write-off the carrying value of assets determined to be damaged beyond repair. Furthermore, FCX does not believe the incident indicates a broader impairment of PTFI’s long-lived mining assets based on PTFI’s reserve life, favorable market outlook for metal prices and expected resumption of operations at the Grasberg Block Cave underground mine in the near term.

PTFI is seeking recovery of damages under its property and business interruption insurance policies, which cover up to $1.0 billion in losses (subject to a limit of $0.7 billion on underground incidents), after a $0.5 billion deductible. PTFI’s ability to recover damages under its insurance coverage with respect to the mud rush incident is subject to certain conditions. Any amounts recoverable under PTFI’s insurance policies will be reflected in future periods in which recovery is considered realizable in accordance with the gain contingency accounting guidance.

As a result of the incident and impact on operations, PTFI has also notified certain commercial counterparties of a force majeure under its contracts.

Concentrate Exports. PTFI’s copper concentrate export license for 1.4 million metric tons of copper concentrate (subject to a 7.5% export duty) expired on September 16, 2025.
Long-Term Mining Rights. With the completion of PTFI’s downstream processing facilities during 2025, FCX and PTFI have advanced discussions with the Indonesia government for a long-term extension of PTFI’s operating rights beyond the current expiration of 2041. An extension would enable continuity of large-scale operations for the benefit of all stakeholders and provide growth options through additional resource development opportunities in the highly attractive Grasberg minerals district.

PTFI is preparing its application for a long-term extension expected to cover the life of the resource, which is expected to be submitted in fourth-quarter 2025. In connection with the extension, PTFI expects to pursue additional exploration, conduct studies for future additional development and expand its social programs. FCX expects to maintain its ownership interest of approximately 49% through 2041 and would transfer an additional interest in PTFI to a state-owned enterprise beginning in 2042, leaving FCX to hold an approximately 37% interest. FCX also expects the existing governance agreements would continue over the life of the resource.

Export Proceeds. Effective March 1, 2025, the Indonesia government implemented a new regulation for export proceeds that requires 100% of export proceeds to be deposited in Indonesia banks for 12 months. The regulation allows the use of funds for ongoing business requirements, including dividends to shareholders, payment of taxes and other obligations to the Indonesia government, payment for materials or capital expenditures that are not available domestically and repayment of loans. Because PTFI has the ability to utilize its export proceeds to fund business requirements, these deposits are classified as cash and cash equivalents.

Smelter Assurance. In March 2025, assurance bonds and funds required to be held in escrow to support commitment for smelter development were released following approval from the Indonesia government that PTFI’s smelter development obligation had been met.
Administrative Fine. In March 2025, PTFI paid $59 million for an administrative fine that was previously assessed by the Indonesia government for delays in smelter development. The fine was fully accrued at year-end 2024.
v3.25.3
Business Segments
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Business Segments BUSINESS SEGMENTS
FCX has organized its mining operations into four primary divisions – U.S. copper mines, South America operations, Indonesia operations and Molybdenum mines, and operating segments that meet certain thresholds are reportable segments, including the Cerro Verde copper mine, Indonesia operations (including the Grasberg minerals district and PTFI’s downstream processing facilities), and U.S. Rod & Refining operations. FCX has also separately disclosed the Morenci copper mine and Atlantic Copper Smelting & Refining segments in the following tables.

FCX's Chief Executive Officer is identified as its chief operating decision maker (CODM) under business segment reporting guidance. Operating income (loss) is the financial measure of profit or loss used by the CODM to review segment results, and the significant segment expenses reviewed by the CODM are consistent with the operating expense line items presented in FCX’s consolidated statements of income. The CODM uses operating income (loss) to assess segment performance against forecasted results and to allocate resources, including capital investment in mining operations and potential expansions.

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

FCX defers recognizing profits on intercompany sales to Atlantic Copper until final sales to third parties occur. Quarterly variations in ore grades, the timing of intercompany shipments and changes in product prices result in variability in FCX’s net deferred profits and quarterly earnings.

FCX allocates certain operating costs, expenses and capital expenditures to its operating divisions and individual operating segments. However, not all costs and expenses applicable to an operation are allocated. U.S. federal and state income taxes are recorded and managed at the corporate level (included in Corporate, Other & Eliminations), whereas foreign income taxes are recorded and managed at the applicable country level. In addition, some selling, general and administrative costs are not allocated to the operating divisions or individual operating 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 individual operating segment would be if it was an independent entity.
Product Revenues. FCX’s revenues attributable to the products it sold for the third quarters and for the first nine months of 2025 and 2024 follow:
Three Months EndedNine Months Ended
September 30,September 30,
 2025202420252024
Copper:
Concentrate$1,967 $1,788 $5,376 $5,204 
Cathode1,817 2,072 6,015 6,304 
Rod and other refined copper products1,330 1,012 3,259 2,939 
Purchased coppera
18 150 489 558 
Gold1,204 1,394 3,512 3,497 
Molybdenum504 450 1,425 1,339 
Silver and other223 173 535 470 
Adjustments to revenues:
PTFI export dutiesb
(135)(129)(337)(360)
Royalty expensec
(107)(131)(310)(344)
Treatment chargesd
(2)(99)(45)(318)
Revenues from contracts with customers6,819 6,680 19,919 19,289 
Embedded derivativese
153 110 363 446 
Total consolidated revenues$6,972 $6,790 $20,282 $19,735 
a.FCX purchases copper cathode primarily for processing by its U.S. Rod & Refining operations. During 2025, FCX has been able to meet customer demand for copper rod with copper cathode produced by its U.S. copper mines and South America operations, resulting in a decrease in purchased copper volumes.
b.Prior to the expiration of its export license on September 16, 2025, PTFI was assessed export duties on copper concentrate sales at a rate of 7.5%.
c.Reflects royalties on sales from PTFI and Cerro Verde that will vary with the volume of metal sold and prices.
d.Revenues from our copper concentrate sales are recorded net of treatment charges, which will vary with the sales volumes and the price of copper. The 2025 periods primarily reflect lower treatment charge rates as a result of favorable market conditions.
e.Refer to Note 5 for discussion of embedded derivatives related to FCX’s provisionally priced copper concentrate and cathode sales contracts.
Financial Information by Business Segment
AtlanticCorporate,
U.S. Copper MinesSouth America OperationsU.S.CopperOther
CerroIndonesiaMolybdenumRod &Smelting& Elimi-FCX
MorenciOtherTotalVerdeOtherTotalOperationsMinesRefining& RefiningnationsTotal
Three Months Ended September 30, 2025           
Revenues:            
Unaffiliated customers$46 $12 $58 $979 $204 $1,183 $2,675 $— $1,774 $768 $514 
a
$6,972 
Intersegment653 1,229 1,882 226 5 231 — 177 12 6 (2,308)— 
Production and delivery499 895 1,394 636 166 802 1,024 
b
150 1,773 753 (1,691)4,205 
Depreciation, depletion and amortization (DD&A)55 79 134 97 17 114 331 
b
22 2 7 15 625 
Selling, general and administrative expenses— 1 1 2 — 2 36 — — 7 85 131 
Exploration and research expenses11 4 15 3 — 3 2 — — — 35 55 
Gain on sales of assets— — — — — — — — — — (16)(16)
Operating income (loss)134 262 396 467 26 493 1,282 5 11 7 (222)1,972 
Interest expense, net— — — (5)— (5)(25)— — (8)(69)(107)
Other (expense) income, net(1)3 2 17 6 23 16 — (1)(1)20 59 
(Provision for) benefit from income taxes— — — (192)(10)(202)(466)— — 3 (4)(669)
Equity in affiliated companies’ net (losses) earnings — — — — — — (9)— — — 1 (8)
Net (income) loss attributable to noncontrolling interests— — — (143)(2)(145)(436)— — — 8 (573)
Net income attributable to common stockholders$674 
Total assets at September 30, 20253,289 7,342 10,631 8,290 2,147 10,437 27,464 2,037 389 1,615 4,255 56,828 
Capital expenditures66 249 315 99 11 110 483 28 19 42 59 1,056 
Three Months Ended September 30, 2024            
Revenues:            
Unaffiliated customers$40 $12 $52 $886 $237 $1,123 $2,856 

$— $1,560 $759 $440 
a
$6,790 
Intersegment553 986 1,539 

193 — 193 126 132 11 6 (2,007)— 
Production and delivery492 811 1,303 630 
c
187 817 918 140 1,562 754 

(1,417)
d
4,077 
DD&A47 62 109 92 18 110 340 19 2 6 14 600 
Selling, general and administrative expenses— 1 1 2 — 2 32 — — 6 76 117 
Exploration and research expenses4 4 8 3 (1)2 2 — — — 26 38 
Environmental obligations and shutdown costs— — — — — — — — — — 20 20 
Operating income (loss)50 120 170 352 33 385 1,690 (27)7 (1)(286)1,938 
Interest expense, net— — — (6)— (6)(10)— — (10)(46)(72)
Other (expense) income, net(1)10 9 22 (2)20 42 — (1)(7)34 97 
(Provision for) benefit from income taxes— — — (148)(10)(158)(625)— — (1)47 (737)
Equity in affiliated companies’ net earnings — — — — — — 6 — — — 4 10 
Net (income) loss attributable to noncontrolling interests— — — (114)
e
(12)(126)(601)— — — 17 (710)
Net income attributable to common stockholders$526 
Total assets at September 30, 20243,172 6,647 9,819 8,276 2,013 10,289 27,474 1,955 294 1,491 4,078 55,400 
Capital expenditures48 215 263 82 18 100 713 25 7 28 63 1,199 
Includes revenues from the molybdenum sales company, which includes sales of molybdenum produced by FCX’s primary molybdenum mines and by certain of the U.S. copper mines and the Cerro Verde mine.
b.Includes charges totaling $195 million in the third quarter and first nine months of 2025 associated with the September 2025 mud rush incident, consisting of $128 million of idle facility costs and $43 million of recovery expenses that were recorded to production and delivery costs, and $24 million of DD&A associated with idle facilities.
The third quarter and first nine months of 2025 also include $26 million and $56 million, respectively, recorded to production and delivery costs for remediation related to the October 2024 fire incident at the smelter not recoverable under PTFI’s construction insurance program.
In addition, the third quarter and first nine months of 2025 include $39 million of tolling fees recorded to production and delivery costs that were recognized as idle facility costs associated with PT Smelting’s (PTFI’s 66%-owned smelter and refinery in Gresik, Indonesia) planned maintenance turnaround.
c.Includes $34 million in third-quarter 2024 and $99 million for the first nine months of 2024 of nonrecurring labor-related charges at Cerro Verde associated with new collective labor agreements.
d.Includes charges for oil and gas properties associated with the write down of a historical contingent consideration asset totaling $32 million in the third quarter and first nine months of 2024. The first nine months of 2024 also includes $99 million for assumed oil and gas abandonment obligations (and related adjustments) resulting from bankruptcies of other companies.
e.Prior to September 2024, FCX’s interest in Cerro Verde was 53.56%.
f.Includes charges totaling $73 million for the first nine months of 2025 associated with planned maintenance turnaround costs at the Miami smelter.
g.Includes a net benefit to income taxes totaling $182 million for the first nine months of 2024 associated with the closure of PTFI’s 2021 corporate income tax audit and resolution of the framework for disputed tax matters. FCX's economic and ownership interest in PTFI is 48.76% except for net income associated with the settlement of these historical tax matters, which was attributed based on the economics prior to January 1, 2023 (i.e., approximately 81% to FCX and 19% to PT Mineral Industri Indonesia). Refer to Note 2 of FCX’s 2024 Form 10-K for further discussion.
v3.25.3
Insider Trading Arrangements
 3 Months Ended
Sep. 30, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.3
Earnings per Share (Tables)
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
Reconciliations of net income and weighted-average shares of common stock outstanding for purposes of calculating basic and diluted net income per share follow:
Three Months EndedNine Months Ended
September 30,September 30,
 2025202420252024
Net income$1,247 $1,236 $3,587 $3,678 
Net income attributable to noncontrolling interests(573)(710)(1,789)(2,063)
Undistributed dividends and earnings allocated to participating securities(7)(6)(7)(6)
Net income attributable to common stockholders$667 $520 $1,791 $1,609 
Basic weighted-average shares of common stock outstanding
1,437 1,438 1,437 1,438 
Add shares issuable upon exercise or vesting of dilutive stock options and restricted stock units6 6 6 7 
Diluted weighted-average shares of common stock outstanding
1,443 1,444 1,443 1,445 
Net income per share attributable to common stockholders:
Basic$0.46 $0.36 $1.25 $1.12 
Diluted$0.46 $0.36 $1.24 $1.11 
v3.25.3
Income Taxes (Tables)
 9 Months Ended
Sep. 30, 2025
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit)
Geographic sources of FCX’s (provision) benefit for income taxes follow:
Nine Months Ended
September 30,
 20252024
U.S.$(4)

$30 
International(2,015)(2,033)
Total$(2,019)$(2,003)
v3.25.3
Debt and Equity (Tables)
 9 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
Schedule of Debt
The components of debt follow:
 September 30,
2025		December 31, 2024
PTFI revolving credit facility$250 $250 
Senior notes and debentures:
Issued by FCX5,285 5,281 
Issued by PTFI2,985 2,983 
Issued by Freeport Minerals Corporation352 353 
Atlantic Coppera
403 57 
Other23 24 
Total debt9,298 8,948 
Less current portion of debt(383)(41)
Long-term debt$8,915 $8,907 
a.Includes short-term lines of credit used for working capital requirements, with interest rates primarily based on the Secured Overnight Financing Rate plus a spread.
v3.25.3
Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments, Gain (Loss) A summary of realized and unrealized (losses) gains recognized in revenues for derivative financial instruments related to commodity contracts that are designated and qualify as fair value hedge transactions, including on the related hedged item follows:
 Three Months EndedNine Months Ended
September 30,September 30,
 2025202420252024
Copper futures and swap contracts:  
Unrealized (losses) gains:  
Derivative financial instruments$(23)$12 $44 $22 
Hedged item – firm sales commitments23 (12)(44)(22)
Realized gains:  
Matured derivative financial instruments1 — 31 29 
Schedule of Derivative Instruments
A summary of FCX’s embedded derivatives at September 30, 2025, follows:
Open PositionsAverage Price
Per Unit		Maturities Through
 ContractMarket
Embedded derivatives in provisional sales contracts:    
Copper (millions of pounds)402 $4.43 $4.65 February 2026
Gold (thousands of ounces)53 3,429 3,833 October 2025
Embedded derivatives in provisional purchase contracts:  
Copper (millions of pounds)111 4.43 4.65 December 2025
Schedule of Derivative Instruments Included in Trading Activities A summary of realized and unrealized gains (losses) recognized in operating income for commodity contracts that do not qualify as hedge transactions, including embedded derivatives, follows:
 Three Months EndedNine Months Ended
September 30,September 30,
 2025202420252024
Embedded derivatives in provisional sales contracts:a
Copper$82 $29 $232 $276 
Gold and other metals71 81 131 170 
Copper forward contractsb
(7)(19)(47)(45)
a.Amounts recorded in revenues. 
b.Amounts recorded in cost of sales as production and delivery costs.
Schedule of Cash Flow, Supplemental Disclosures The following table provides a reconciliation of total cash and cash equivalents and restricted cash and cash equivalents presented in the consolidated statements of cash flows:
September 30,
2025		December 31, 2024
Balance sheet components:
Cash and cash equivalents$4,318 $3,923 
Restricted cash and cash equivalents, current230 
a
888 
b
Restricted cash and cash equivalents, long-term - included in other assets105 100 
Total cash and cash equivalents and restricted cash and cash equivalents presented in the consolidated statements of cash flows$4,653 $4,911 
a.Reflects cash designated for talc-related litigation in accordance with a legal settlement. Refer to Note 7 for further discussion.
b.Included $0.7 billion associated with a portion of PTFI’s export proceeds required to be temporarily deposited in Indonesia banks for 90 days in accordance with a previous Indonesia regulation.
v3.25.3
Fair Value Measurement (Tables)
 9 Months Ended
Sep. 30, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurement Inputs Disclosure A summary of the carrying amount and fair value of FCX’s financial instruments (including those measured at net asset value (NAV) as a practical expedient), other than cash and cash equivalents, restricted cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities, accrued income taxes and dividends payable (refer to Note 5), follows:
At September 30, 2025
 CarryingFair Value
 AmountTotalNAVLevel 1Level 2Level 3
Assets    
Investment securities:a,b
U.S. core fixed income fund$29 $29 $29 $— $— $— 
Equity securities27 27 — 27 — — 
Total56 56 29 27 — — 
Legally restricted funds:a
    
U.S. core fixed income fund70 70 70 — — — 
Government mortgage-backed securities59 59 — — 59 — 
Corporate bonds35 35 — — 35 — 
Government bonds and notes31 31 — — 31 — 
Money market funds20 20 — 20 — — 
Asset-backed securities14 14 — — 14 — 
Collateralized mortgage-backed securities1 1 — — 1 — 
Total230 230 70 20 140 — 
Derivatives:c
    
Embedded derivatives in provisional sales/purchase contracts in a gross asset position109 109 — — 109 — 
Copper futures and swap contracts18 18 — 11 7 — 
Copper forward contracts4 4 — 2 2 — 
       Total131 131 — 13 118 — 
Liabilities    
Derivatives:c
    
Embedded derivatives in provisional sales/purchase contracts in a gross liability position24 24 — — 24 — 
Copper futures and swap contracts3 3 — — 3 — 
Copper forward contracts11 11 — 6 5 — 
Total38 38 — 6 32 — 
Debtd
9,298 9,363 — — 9,363 — 
At December 31, 2024
 CarryingFair Value
 AmountTotalNAVLevel 1Level 2Level 3
Assets    
Investment securities:a,b
U.S. core fixed income fund$27 $27 $27 $— $— $— 
Equity securities9 9 — 9 — — 
Total36 36 27 9 — — 
Legally restricted funds:a
    
U.S. core fixed income fund 66 66 66 — — — 
Government mortgage-backed securities54 54 — — 54 — 
Government bonds and notes34 34 — — 34 — 
Corporate bonds31 31 — — 31 — 
Money market funds19 19 — 19 — — 
Asset-backed securities12 12 — — 12 — 
Collateralized mortgage-backed securities1 1 — — 1 — 
Total217 217 66 19 132 — 
Derivatives:c
    
Embedded derivatives in provisional sales/purchase contracts in a gross asset position10 10 — — 10 — 
Copper forward contracts10 10 — 4 6 — 
Total20 20 — 4 16 — 
Liabilities    
Derivatives:c
Embedded derivatives in provisional sales/purchase contracts in a gross liability position60 60 — — 60 — 
Copper futures and swap contracts28 28 — 17 11 — 
Copper forward contracts1 1 — 1 — — 
Total89 89 — 18 71 — 
Debtd
8,948 8,807 — — 8,807 — 
a.Current portion included in other current assets and long-term portion included in other assets.
b.Excludes restricted cash and cash equivalents (which approximated fair value), primarily associated with talc-related litigation at September 30, 2025, and PTFI’s export proceeds at December 31, 2024. Refer to Note 5.
c.Refer to Note 5 for further discussion.
d.Recorded at cost except for debt assumed in the 2007 acquisition of Freeport Minerals Corporation (FMC), which was recorded at fair value at the acquisition date.
v3.25.3
Business Segments (Tables)
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Revenue from External Customers by Products and Services
Product Revenues. FCX’s revenues attributable to the products it sold for the third quarters and for the first nine months of 2025 and 2024 follow:
Three Months EndedNine Months Ended
September 30,September 30,
 2025202420252024
Copper:
Concentrate$1,967 $1,788 $5,376 $5,204 
Cathode1,817 2,072 6,015 6,304 
Rod and other refined copper products1,330 1,012 3,259 2,939 
Purchased coppera
18 150 489 558 
Gold1,204 1,394 3,512 3,497 
Molybdenum504 450 1,425 1,339 
Silver and other223 173 535 470 
Adjustments to revenues:
PTFI export dutiesb
(135)(129)(337)(360)
Royalty expensec
(107)(131)(310)(344)
Treatment chargesd
(2)(99)(45)(318)
Revenues from contracts with customers6,819 6,680 19,919 19,289 
Embedded derivativese
153 110 363 446 
Total consolidated revenues$6,972 $6,790 $20,282 $19,735 
a.FCX purchases copper cathode primarily for processing by its U.S. Rod & Refining operations. During 2025, FCX has been able to meet customer demand for copper rod with copper cathode produced by its U.S. copper mines and South America operations, resulting in a decrease in purchased copper volumes.
b.Prior to the expiration of its export license on September 16, 2025, PTFI was assessed export duties on copper concentrate sales at a rate of 7.5%.
c.Reflects royalties on sales from PTFI and Cerro Verde that will vary with the volume of metal sold and prices.
d.Revenues from our copper concentrate sales are recorded net of treatment charges, which will vary with the sales volumes and the price of copper. The 2025 periods primarily reflect lower treatment charge rates as a result of favorable market conditions.
e.Refer to Note 5 for discussion of embedded derivatives related to FCX’s provisionally priced copper concentrate and cathode sales contracts.
Schedule of Segment Reporting Information, by Segment
Financial Information by Business Segment
AtlanticCorporate,
U.S. Copper MinesSouth America OperationsU.S.CopperOther
CerroIndonesiaMolybdenumRod &Smelting& Elimi-FCX
MorenciOtherTotalVerdeOtherTotalOperationsMinesRefining& RefiningnationsTotal
Three Months Ended September 30, 2025           
Revenues:            
Unaffiliated customers$46 $12 $58 $979 $204 $1,183 $2,675 $— $1,774 $768 $514 
a
$6,972 
Intersegment653 1,229 1,882 226 5 231 — 177 12 6 (2,308)— 
Production and delivery499 895 1,394 636 166 802 1,024 
b
150 1,773 753 (1,691)4,205 
Depreciation, depletion and amortization (DD&A)55 79 134 97 17 114 331 
b
22 2 7 15 625 
Selling, general and administrative expenses— 1 1 2 — 2 36 — — 7 85 131 
Exploration and research expenses11 4 15 3 — 3 2 — — — 35 55 
Gain on sales of assets— — — — — — — — — — (16)(16)
Operating income (loss)134 262 396 467 26 493 1,282 5 11 7 (222)1,972 
Interest expense, net— — — (5)— (5)(25)— — (8)(69)(107)
Other (expense) income, net(1)3 2 17 6 23 16 — (1)(1)20 59 
(Provision for) benefit from income taxes— — — (192)(10)(202)(466)— — 3 (4)(669)
Equity in affiliated companies’ net (losses) earnings — — — — — — (9)— — — 1 (8)
Net (income) loss attributable to noncontrolling interests— — — (143)(2)(145)(436)— — — 8 (573)
Net income attributable to common stockholders$674 
Total assets at September 30, 20253,289 7,342 10,631 8,290 2,147 10,437 27,464 2,037 389 1,615 4,255 56,828 
Capital expenditures66 249 315 99 11 110 483 28 19 42 59 1,056 
Three Months Ended September 30, 2024            
Revenues:            
Unaffiliated customers$40 $12 $52 $886 $237 $1,123 $2,856 

$— $1,560 $759 $440 
a
$6,790 
Intersegment553 986 1,539 

193 — 193 126 132 11 6 (2,007)— 
Production and delivery492 811 1,303 630 
c
187 817 918 140 1,562 754 

(1,417)
d
4,077 
DD&A47 62 109 92 18 110 340 19 2 6 14 600 
Selling, general and administrative expenses— 1 1 2 — 2 32 — — 6 76 117 
Exploration and research expenses4 4 8 3 (1)2 2 — — — 26 38 
Environmental obligations and shutdown costs— — — — — — — — — — 20 20 
Operating income (loss)50 120 170 352 33 385 1,690 (27)7 (1)(286)1,938 
Interest expense, net— — — (6)— (6)(10)— — (10)(46)(72)
Other (expense) income, net(1)10 9 22 (2)20 42 — (1)(7)34 97 
(Provision for) benefit from income taxes— — — (148)(10)(158)(625)— — (1)47 (737)
Equity in affiliated companies’ net earnings — — — — — — 6 — — — 4 10 
Net (income) loss attributable to noncontrolling interests— — — (114)
e
(12)(126)(601)— — — 17 (710)
Net income attributable to common stockholders$526 
Total assets at September 30, 20243,172 6,647 9,819 8,276 2,013 10,289 27,474 1,955 294 1,491 4,078 55,400 
Capital expenditures48 215 263 82 18 100 713 25 7 28 63 1,199 
v3.25.3
Earnings per Share (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Earnings Per Share [Abstract]        
Net income (loss) from continuing operations $ 1,247 $ 1,236 $ 3,587 $ 3,678
Net income attributable to noncontrolling interests (573) (710) (1,789) (2,063)
Undistributed dividends and earnings allocated to participating securities (7) (6) (7) (6)
Net income attributable to common stockholders $ 667 $ 520 $ 1,791 $ 1,609
Basic weighted-average shares of common stock outstanding 1,437 1,438 1,437 1,438
Add shares issuable upon exercise or vesting of dilutive stock options and restricted stock units 6 6 6 7
Diluted weighted-average shares of common stock outstanding 1,443 1,444 1,443 1,445
Earnings per share, basic (in dollars per share) $ 0.46 $ 0.36 $ 1.25 $ 1.12
Earnings per share, diluted (in dollars per share) $ 0.46 $ 0.36 $ 1.24 $ 1.11
Dilutive Securities Excluded from Computation of EPS Amount 0   0  
v3.25.3
Income Taxes - Schedule of Income Before Income Taxes and Equity in an Affiliated Companies' Net Earnings (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Income Tax Disclosure [Abstract]        
U.S.     $ (4) $ 30
International     (2,015) (2,033)
Total $ (669) $ (737) $ (2,019) $ (2,003)
v3.25.3
Income Taxes - Additional Information (Details) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Income Tax Disclosure [Abstract]    
Consolidated effective income tax rate (percent) 36.00% 35.00%
Tax benefit related to closure of tax audit   $ 182
v3.25.3
Debt and Equity - Components of Debt (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Debt Instrument [Line Items]    
Long-term debt   $ 8,948
Less current portion of debt $ (383) (41)
Long-term debt, less current portion 8,915 8,907
Line of Credit    
Debt Instrument [Line Items]    
Long-term debt 403 57
Line of Credit | PT-FI | Unsecured Credit Facility    
Debt Instrument [Line Items]    
Line of credit 250 250
Senior Notes | PT-FI    
Debt Instrument [Line Items]    
Long-term debt 2,985 2,983
Senior Notes | FCX    
Debt Instrument [Line Items]    
Long-term debt 5,285 5,281
Debentures | Freeport McMoRan Corporation    
Debt Instrument [Line Items]    
Long-term debt 352 353
Other    
Debt Instrument [Line Items]    
Long-term debt $ 23 $ 24
v3.25.3
Debt and Equity - Additional Information (Details) - USD ($)
$ / shares in Units, shares in Millions
 3 Months Ended 9 Months Ended 47 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Oct. 31, 2025
Dec. 31, 2024
Debt Instrument [Line Items]            
Interest costs $ 182,000,000 $ 173,000,000 $ 537,000,000 $ 529,000,000    
Interest costs capitalized $ 75,000,000 $ 101,000,000 $ 278,000,000 $ 280,000,000    
Treasury stock purchases (in shares)     2.9      
Shares repurchased     $ 107,000,000      
Cost per share repurchased (in dollars per share)     $ 36.41      
Dividends declared per share of common stock (in dollars per share) $ 0.15 $ 0.15 $ 0.45 $ 0.45    
Base cash dividend (in dollars per share) 0.075          
Variable cash dividend (in dollars per share) $ 0.075          
Subsequent event            
Debt Instrument [Line Items]            
Stock repurchase program, authorized amount         $ 3,000,000,000  
Subsequent event | Share Repurchase Program            
Debt Instrument [Line Items]            
Treasury stock purchases (in shares)         52.0  
Cost per share repurchased (in dollars per share)         $ 38.51  
Line of Credit | Revolving Credit Facility | October 2022 Unsecured Revolving Credit Facility            
Debt Instrument [Line Items]            
Line of credit facility, maximum borrowing capacity $ 3,000,000,000.0   $ 3,000,000,000.0      
Line of credit 0   0      
Line of Credit | Revolving Credit Facility | PT-FI | October 2022 Unsecured Revolving Credit Facility            
Debt Instrument [Line Items]            
Line of credit facility, maximum borrowing capacity 500,000,000   500,000,000      
Line of Credit | Letter of Credit            
Debt Instrument [Line Items]            
Revolving credit facility, availability 1,500,000,000   1,500,000,000      
Line of credit 5,000,000   5,000,000      
Line of Credit | Unsecured Credit Facility | PT-FI            
Debt Instrument [Line Items]            
Line of credit facility, maximum borrowing capacity 1,750,000,000   1,750,000,000      
Line of credit 250,000,000   250,000,000     $ 250,000,000
Line of Credit | Unsecured Credit Facility | Cerro Verde            
Debt Instrument [Line Items]            
Line of credit facility, maximum borrowing capacity 350,000,000   350,000,000      
Line of credit $ 0   $ 0      
v3.25.3
Financial Instruments - Unrealized gains losses (Details)
oz in Thousands, lb in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Jun. 30, 2023
lb
oz
Sep. 30, 2025
USD ($)
$ / lb
$ / lb
$ / oz
Sep. 30, 2024
USD ($)
Sep. 30, 2025
USD ($)
lb
$ / lb
$ / lb
$ / oz
Sep. 30, 2024
USD ($)
Commodity Contract          
Unrealized gains (losses):          
Derivative financial instruments   $ (23) $ 12 $ 44 $ 22
Hedged item – firm sales commitments   23 (12) (44) (22)
Realized gains (losses):          
Matured derivative financial instruments   1 0 31 29
Matured derivative financial instruments   $ 1 0 $ 31 29
Commodity Contract | Designated as Hedging Instrument          
Derivative Instruments, Gain (Loss) [Line Items]          
Derivative, Nonmonetary Notional Amount, Mass | lb       117  
Derivative, Average Forward Price | $ / lb   4.75   4.75  
Forward Contracts | Not Designated as Hedging Instrument          
Derivative Instruments, Gain (Loss) [Line Items]          
Derivative, Nonmonetary Notional Amount, Mass | lb       52  
Derivative, Average Forward Price | $ / lb   4.51   4.51  
Realized gains (losses):          
Matured derivative financial instruments   $ (7) (19) $ (47) (45)
Matured derivative financial instruments   (7) (19) (47) (45)
Copper | Not Designated as Hedging Instrument          
Realized gains (losses):          
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net   $ 82 29 $ 232 276
Copper | Short [Member] | Embedded Derivative Financial Instruments | Not Designated as Hedging Instrument          
Derivative Instruments, Gain (Loss) [Line Items]          
Derivative, Nonmonetary Notional Amount, Mass | lb 402        
Derivative, Average Forward Price | $ / lb   4.43   4.43  
Realized gains (losses):          
Derivative Average Market Price | $ / lb   4.65   4.65  
Copper | Long [Member] | Embedded Derivative Financial Instruments | Not Designated as Hedging Instrument          
Derivative Instruments, Gain (Loss) [Line Items]          
Derivative, Nonmonetary Notional Amount, Mass | lb 111        
Derivative, Average Forward Price | $ / lb   4.43   4.43  
Realized gains (losses):          
Derivative Average Market Price | $ / lb   4.65   4.65  
Gold | Short [Member] | Embedded Derivative Financial Instruments | Not Designated as Hedging Instrument          
Derivative Instruments, Gain (Loss) [Line Items]          
Derivative, Nonmonetary Notional Amount, Mass | oz 53        
Derivative, Average Forward Price | $ / oz   3,429   3,429  
Realized gains (losses):          
Derivative Average Market Price | $ / oz   3,833   3,833  
gold and other | Not Designated as Hedging Instrument          
Realized gains (losses):          
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net   $ 71 $ 81 $ 131 $ 170
v3.25.3
Financial Instruments - Derivative (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Sep. 30, 2024
Dec. 31, 2023
Cash and Cash Equivalents [Line Items]        
Credit Derivative, Maximum Exposure, Undiscounted $ 131      
Cash and cash equivalents 4,318 $ 3,923    
Restricted cash and cash equivalents 230 888    
Restricted Cash and Cash Equivalents, Noncurrent 105 100    
Total cash and cash equivalents and restricted cash and cash equivalents presented in the consolidated statements of cash flows $ 4,653 4,911 $ 6,216 $ 6,063
Designated For Export Proceeds        
Cash and Cash Equivalents [Line Items]        
Restricted cash and cash equivalents   $ 700    
v3.25.3
Fair Value Measurement - Fair Value Measurement Inputs (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Fair Value Measured at Net Asset Value Per Share    
Investment securities (current and long-term):    
Investments, Fair Value Disclosure $ 29 $ 27
Trust Assets Fair Value Disclosure 70 66
Derivatives:    
Derivative Asset 0 0
Derivatives: [Abstract]    
Derivative Liability 0 0
Long-term debt, including current portion 0 0
Level 1    
Investment securities (current and long-term):    
Investments, Fair Value Disclosure 27 9
Trust Assets Fair Value Disclosure 20 19
Derivatives:    
Derivative Asset 13 4
Derivatives: [Abstract]    
Derivative Liability 6 18
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 140 132
Derivatives:    
Derivative Asset 118 16
Derivatives: [Abstract]    
Derivative Liability 32 71
Long-term debt, including current portion 9,363 8,807
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
Derivatives: [Abstract]    
Derivative Liability 0 0
Long-term debt, including current portion 0 0
Carrying Amount, Fair Value Disclosure    
Investment securities (current and long-term):    
Investments, Fair Value Disclosure 56 36
Trust Assets Fair Value Disclosure 230 217
Derivatives:    
Derivative Asset 131 20
Derivatives: [Abstract]    
Derivative Liability 38 89
Long-term debt, including current portion 9,298 8,948
Estimate of Fair Value Measurement    
Investment securities (current and long-term):    
Investments, Fair Value Disclosure 56 36
Trust Assets Fair Value Disclosure 230 217
Derivatives:    
Derivative Asset 131 20
Derivatives: [Abstract]    
Derivative Liability 38 89
Long-term debt, including current portion 9,363 8,807
Embedded Derivative Financial Instruments | Fair Value Measured at Net Asset Value Per Share    
Derivatives:    
Derivative Asset 0 0
Derivatives: [Abstract]    
Derivative Liability 0 0
Embedded Derivative Financial Instruments | Level 1    
Derivatives:    
Derivative Asset 0 0
Derivatives: [Abstract]    
Derivative Liability 0 0
Embedded Derivative Financial Instruments | Level 2    
Derivatives:    
Derivative Asset 109 10
Derivatives: [Abstract]    
Derivative Liability 24 60
Embedded Derivative Financial Instruments | Level 3    
Derivatives:    
Derivative Asset 0 0
Derivatives: [Abstract]    
Derivative Liability 0 0
Embedded Derivative Financial Instruments | Carrying Amount, Fair Value Disclosure    
Derivatives:    
Derivative Asset 109 10
Derivatives: [Abstract]    
Derivative Liability 24 60
Embedded Derivative Financial Instruments | Estimate of Fair Value Measurement    
Derivatives:    
Derivative Asset 109 10
Derivatives: [Abstract]    
Derivative Liability 24 60
Commodity Contract | Fair Value Measured at Net Asset Value Per Share    
Derivatives:    
Derivative Asset 0  
Derivatives: [Abstract]    
Derivative Liability 0 0
Commodity Contract | Level 1    
Derivatives:    
Derivative Asset 11  
Derivatives: [Abstract]    
Derivative Liability 0 17
Commodity Contract | Level 2    
Derivatives:    
Derivative Asset 7  
Derivatives: [Abstract]    
Derivative Liability 3 11
Commodity Contract | Level 3    
Derivatives:    
Derivative Asset 0  
Derivatives: [Abstract]    
Derivative Liability 0 0
Commodity Contract | Carrying Amount, Fair Value Disclosure    
Derivatives:    
Derivative Asset 18  
Derivatives: [Abstract]    
Derivative Liability 3 28
Commodity Contract | Estimate of Fair Value Measurement    
Derivatives:    
Derivative Asset 18  
Derivatives: [Abstract]    
Derivative Liability 3 28
Forward Contracts | Fair Value Measured at Net Asset Value Per Share    
Derivatives:    
Derivative Asset 0 0
Derivatives: [Abstract]    
Derivative Liability 0 0
Forward Contracts | Level 1    
Derivatives:    
Derivative Asset 2 4
Derivatives: [Abstract]    
Derivative Liability 6 1
Forward Contracts | Level 2    
Derivatives:    
Derivative Asset 2 6
Derivatives: [Abstract]    
Derivative Liability 5 0
Forward Contracts | Level 3    
Derivatives:    
Derivative Asset 0 0
Derivatives: [Abstract]    
Derivative Liability 0 0
Forward Contracts | Carrying Amount, Fair Value Disclosure    
Derivatives:    
Derivative Asset 4 10
Derivatives: [Abstract]    
Derivative Liability 11 1
Forward Contracts | Estimate of Fair Value Measurement    
Derivatives:    
Derivative Asset 4 10
Derivatives: [Abstract]    
Derivative Liability 11 1
U.S. core fixed income fund | Fair Value Measured at Net Asset Value Per Share    
Investment securities (current and long-term):    
Marketable Securities 29 27
Trust Assets Fair Value Disclosure 70 66
U.S. core fixed income fund | Level 1    
Investment securities (current and long-term):    
Marketable Securities 0 0
Trust Assets Fair Value Disclosure 0 0
U.S. core fixed income fund | Level 2    
Investment securities (current and long-term):    
Marketable Securities 0 0
Trust Assets Fair Value Disclosure 0 0
U.S. core fixed income fund | Level 3    
Investment securities (current and long-term):    
Marketable Securities 0 0
Trust Assets Fair Value Disclosure 0 0
U.S. core fixed income fund | Carrying Amount, Fair Value Disclosure    
Investment securities (current and long-term):    
Marketable Securities 29 27
Trust Assets Fair Value Disclosure 70 66
U.S. core fixed income fund | Estimate of Fair Value Measurement    
Investment securities (current and long-term):    
Marketable Securities 29 27
Trust Assets Fair Value Disclosure 70 66
Equity securities | Fair Value Measured at Net Asset Value Per Share    
Investment securities (current and long-term):    
Marketable Securities 0 0
Equity securities | Level 1    
Investment securities (current and long-term):    
Marketable Securities 27 9
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 | Carrying Amount, Fair Value Disclosure    
Investment securities (current and long-term):    
Marketable Securities 27 9
Equity securities | Estimate of Fair Value Measurement    
Investment securities (current and long-term):    
Marketable Securities 27 9
Government mortgage-backed securities | Fair Value Measured at Net Asset Value Per Share    
Investment securities (current and long-term):    
Trust Assets Fair Value Disclosure 0 0
Government mortgage-backed securities | Level 1    
Investment securities (current and long-term):    
Trust Assets Fair Value Disclosure 0 0
Government mortgage-backed securities | Level 2    
Investment securities (current and long-term):    
Trust Assets Fair Value Disclosure 59 54
Government mortgage-backed securities | Level 3    
Investment securities (current and long-term):    
Trust Assets Fair Value Disclosure 0 0
Government mortgage-backed securities | Carrying Amount, Fair Value Disclosure    
Investment securities (current and long-term):    
Trust Assets Fair Value Disclosure 59 54
Government mortgage-backed securities | Estimate of Fair Value Measurement    
Investment securities (current and long-term):    
Trust Assets Fair Value Disclosure 59 54
Corporate bonds | Fair Value Measured at Net Asset Value Per Share    
Investment securities (current and long-term):    
Trust Assets Fair Value Disclosure 0 0
Corporate bonds | Level 1    
Investment securities (current and long-term):    
Trust Assets Fair Value Disclosure 0 0
Corporate bonds | Level 2    
Investment securities (current and long-term):    
Trust Assets Fair Value Disclosure 35 31
Corporate bonds | Level 3    
Investment securities (current and long-term):    
Trust Assets Fair Value Disclosure 0 0
Corporate bonds | Carrying Amount, Fair Value Disclosure    
Investment securities (current and long-term):    
Trust Assets Fair Value Disclosure 35 31
Corporate bonds | Estimate of Fair Value Measurement    
Investment securities (current and long-term):    
Trust Assets Fair Value Disclosure 35 31
Government bonds | Fair Value Measured at Net Asset Value Per Share    
Investment securities (current and long-term):    
Trust Assets Fair Value Disclosure 0 0
Government bonds | Level 1    
Investment securities (current and long-term):    
Trust Assets Fair Value Disclosure 0 0
Government bonds | Level 2    
Investment securities (current and long-term):    
Trust Assets Fair Value Disclosure 31 34
Government bonds | Level 3    
Investment securities (current and long-term):    
Trust Assets Fair Value Disclosure 0 0
Government bonds | Carrying Amount, Fair Value Disclosure    
Investment securities (current and long-term):    
Trust Assets Fair Value Disclosure 31 34
Government bonds | Estimate of Fair Value Measurement    
Investment securities (current and long-term):    
Trust Assets Fair Value Disclosure 31 34
Money market funds | Fair Value Measured at Net Asset Value Per Share    
Investment securities (current and long-term):    
Trust Assets Fair Value Disclosure 0 0
Money market funds | Level 1    
Investment securities (current and long-term):    
Trust Assets Fair Value Disclosure 20 19
Money market funds | Level 2    
Investment securities (current and long-term):    
Trust Assets Fair Value Disclosure 0 0
Money market funds | Level 3    
Investment securities (current and long-term):    
Trust Assets Fair Value Disclosure 0 0
Money market funds | Carrying Amount, Fair Value Disclosure    
Investment securities (current and long-term):    
Trust Assets Fair Value Disclosure 20 19
Money market funds | Estimate of Fair Value Measurement    
Investment securities (current and long-term):    
Trust Assets Fair Value Disclosure 20 19
Asset-backed securities | Fair Value Measured at Net Asset Value Per Share    
Investment securities (current and long-term):    
Trust Assets Fair Value Disclosure 0 0
Asset-backed securities | Level 1    
Investment securities (current and long-term):    
Trust Assets Fair Value Disclosure 0 0
Asset-backed securities | Level 2    
Investment securities (current and long-term):    
Trust Assets Fair Value Disclosure 14 12
Asset-backed securities | Level 3    
Investment securities (current and long-term):    
Trust Assets Fair Value Disclosure 0 0
Asset-backed securities | Carrying Amount, Fair Value Disclosure    
Investment securities (current and long-term):    
Trust Assets Fair Value Disclosure 14 12
Asset-backed securities | Estimate of Fair Value Measurement    
Investment securities (current and long-term):    
Trust Assets Fair Value Disclosure 14 12
Collateralized Mortgage Backed Securities | Fair Value Measured at Net Asset Value Per Share    
Investment securities (current and long-term):    
Trust Assets Fair Value Disclosure 0 0
Collateralized Mortgage Backed Securities | Level 1    
Investment securities (current and long-term):    
Trust Assets Fair Value Disclosure 0 0
Collateralized Mortgage Backed Securities | Level 2    
Investment securities (current and long-term):    
Trust Assets Fair Value Disclosure 1 1
Collateralized Mortgage Backed Securities | Level 3    
Investment securities (current and long-term):    
Trust Assets Fair Value Disclosure 0 0
Collateralized Mortgage Backed Securities | Carrying Amount, Fair Value Disclosure    
Investment securities (current and long-term):    
Trust Assets Fair Value Disclosure 1 1
Collateralized Mortgage Backed Securities | Estimate of Fair Value Measurement    
Investment securities (current and long-term):    
Trust Assets Fair Value Disclosure $ 1 $ 1
v3.25.3
Contingencies and Commitments - Environmental (Details) - USD ($)
$ in Millions
 1 Months Ended 3 Months Ended
Jul. 31, 2025
Sep. 30, 2025
Environmental Exit Cost [Line Items]    
Decrease for revision in estimates   $ 81
Arthur Kill    
Environmental Exit Cost [Line Items]    
Accrual for environmental loss contingencies, period increase $ 46  
Carteret    
Environmental Exit Cost [Line Items]    
Accrual for environmental loss contingencies, period increase   $ 19
v3.25.3
Contingencies and Commitments - Litigation (Details) - USD ($)
$ in Millions
 1 Months Ended 9 Months Ended 12 Months Ended 12084 Months Ended
Feb. 28, 2025
Sep. 30, 2025
Dec. 31, 2026
Mar. 31, 3033
Asbestos And Talc Claims | Forecast        
Loss Contingencies [Line Items]        
Litigation Settlement, Term       7 years
Asbestos And Talc Claims | Cyprus Amax Minerals Company        
Loss Contingencies [Line Items]        
Loss Contingency Accrual   $ 195.0    
Asbestos And Talc Claims | Johnson And Johnson        
Loss Contingencies [Line Items]        
Litigation Settlement, Amount Awarded to Other Party $ 505.0      
Asbestos And Talc Claims | Cyprus Mines        
Loss Contingencies [Line Items]        
Proceeds from Legal Settlements   230.0    
Asbestos And Talc Claims | Cyprus Mines | Forecast        
Loss Contingencies [Line Items]        
Proceeds from Legal Settlements     $ 48.0  
Pending Litigation | Asbestos And Talc Claims        
Loss Contingencies [Line Items]        
Loss Contingency Accrual   477.0    
Pending Litigation | Future Talc-Related Claims        
Loss Contingencies [Line Items]        
Loss Contingency Accrual   278.0    
Pending Litigation | Foreign Talc Claims        
Loss Contingencies [Line Items]        
Loss Contingency Accrual   $ 4.0    
v3.25.3
Contingencies and Commitments - Indonesia Regulatory Matters (Details)
 1 Months Ended 3 Months Ended 9 Months Ended
Mar. 31, 2025
USD ($)
Sep. 30, 2025
USD ($)
Sep. 30, 2025
USD ($)
Sep. 08, 2025
fatality
metricTon
Mar. 17, 2025
metricTon
Loss Contingencies [Line Items]          
Number of fatalities | fatality       7  
Weight of wet material | metricTon       800,000  
Export License, Volume | metricTon         1,400,000
Export duty to be paid, percent     7.50%    
Export Proceeds, Percent   100.00%      
Administrative fine $ 59,000,000        
Operating Segments | Indonesia | Grasberg Segment | Mud Rush          
Loss Contingencies [Line Items]          
Recovery costs   $ 43,000,000 $ 43,000,000    
PT Freeport Indonesia          
Loss Contingencies [Line Items]          
Incident charges   195,000,000      
Idle facility costs   152,000,000      
Recovery costs   43,000,000      
Asset Impairment Charges   0      
Maximum loss limit   1,000,000,000      
Maximum loss limit on underground incidents   700,000,000      
Deductible amount   $ 500,000,000      
v3.25.3
Business Segments (Product Revenue) (Details)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
USD ($)
Sep. 30, 2024
USD ($)
Sep. 30, 2025
USD ($)
segment
Sep. 30, 2024
USD ($)
Revenue from External Customer [Line Items]        
Number of Operating Segments | segment     4  
PT-FI export duties $ (135) $ (129) $ (337) $ (360)
Royalty expense (107) (131) (310) (344)
Treatment chargesd (2) (99) (45) (318)
Revenues from contracts with customers 6,819 6,680 19,919 19,289
Revenues 6,972 6,790 $ 20,282 19,735
Export duty to be paid, percent     7.50%  
Sales | Not Designated as Hedging Instrument        
Revenue from External Customer [Line Items]        
Matured derivative financial instruments 153 110 $ 363 446
Copper In Concentrates        
Revenue from External Customer [Line Items]        
Revenue 1,967 1,788 5,376 5,204
Copper Cathode        
Revenue from External Customer [Line Items]        
Revenue 1,817 2,072 6,015 6,304
Refined Copper Products        
Revenue from External Customer [Line Items]        
Revenue 1,330 1,012 3,259 2,939
Purchased Copper        
Revenue from External Customer [Line Items]        
Revenue 18 150 489 558
Gold        
Revenue from External Customer [Line Items]        
Revenue 1,204 1,394 3,512 3,497
Molybdenum        
Revenue from External Customer [Line Items]        
Revenue 504 450 1,425 1,339
Silver And Other        
Revenue from External Customer [Line Items]        
Revenue $ 223 $ 173 $ 535 $ 470
v3.25.3
Business Segments (Segment Reporting) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Aug. 31, 2024
Jan. 01, 2023
Segment Reporting Information [Line Items]              
Revenues $ 6,972 $ 6,790 $ 20,282 $ 19,735      
Production and delivery 4,205 4,077 12,243 11,796      
Depreciation, depletion and amortization (DD&A) 625 600 1,759 1,704      
Selling, general and administrative expenses 131 117 412 384      
Exploration and research expenses 55 38 140 115      
Environmental obligations and shutdown costs 0 20 37 115      
Gain on sales of assets (16) 0 (16) 0      
Operating income 1,972 1,938 5,707 5,621      
Interest expense, net (107) (72) (259) (249)      
Other Nonoperating Income (Expense) 59 97 158 295      
Provision for (benefit from) income taxes (669) (737) (2,019) (2,003)      
Equity in affiliated companies’ net (losses) earnings (8) 10 0 14      
Net income attributable to noncontrolling interests (573) (710) (1,789) (2,063)      
Net loss attributable to common stockholders 674 526 1,798 1,615      
Total assets 56,828 55,400 56,828 55,400 $ 54,848    
Capital expenditures 1,056 1,199 3,489 3,569      
Cerro Verde              
Segment Reporting Information [Line Items]              
Investment owned, percent           53.56%  
PT Freeport Indonesia              
Segment Reporting Information [Line Items]              
Provision for (benefit from) income taxes       (182)      
Recovery costs 43            
PT Freeport Indonesia | PT Smelting              
Segment Reporting Information [Line Items]              
Tolling fee 39   39        
PT Freeport Indonesia | FCX              
Segment Reporting Information [Line Items]              
Noncontrolling interest, ownership percentage by parent         81.00%   48.76%
PT Freeport Indonesia | PT Indonesia Asahan Aluminium (Persero) (Inalum) [Member]              
Segment Reporting Information [Line Items]              
Noncontrolling interest, ownership percentage by parent         19.00%    
Operating Segments | North America              
Segment Reporting Information [Line Items]              
Revenues 58 52 376 152      
Production and delivery 1,394 1,303 3,820 3,678      
Depreciation, depletion and amortization (DD&A) 134 109 376 327      
Selling, general and administrative expenses 1 1 3 3      
Exploration and research expenses 15 8 40 34      
Environmental obligations and shutdown costs   0 (7) 0      
Gain on sales of assets 0   0        
Operating income 396 170 1,052 587      
Interest expense, net 0 0 (1) (1)      
Other Nonoperating Income (Expense) 2 9 4 8      
Provision for (benefit from) income taxes 0 0 0 0      
Equity in affiliated companies’ net (losses) earnings 0 0 0 0      
Net income attributable to noncontrolling interests 0 0 0 0      
Total assets 10,631 9,819 10,631 9,819      
Capital expenditures 315 263 843 743      
Operating Segments | South America              
Segment Reporting Information [Line Items]              
Revenues 1,183 1,123 3,331 3,486      
Production and delivery 802 817 2,358 2,450      
Depreciation, depletion and amortization (DD&A) 114 110 338 332      
Selling, general and administrative expenses 2 2 6 6      
Exploration and research expenses 3 2 11 11      
Environmental obligations and shutdown costs   0 0 0      
Gain on sales of assets 0   0        
Operating income 493 385 1,338 1,164      
Interest expense, net (5) (6) (13) (16)      
Other Nonoperating Income (Expense) 23 20 76 49      
Provision for (benefit from) income taxes (202) (158) (546) (475)      
Equity in affiliated companies’ net (losses) earnings 0 0 0 0      
Net income attributable to noncontrolling interests (145) (126) (397) (380)      
Total assets 10,437 10,289 10,437 10,289      
Capital expenditures 110 100 287 272      
Corporate And Eliminations              
Segment Reporting Information [Line Items]              
Revenues 514 440 1,492 1,336      
Production and delivery (1,691) (1,417) (4,427) (4,180)      
Depreciation, depletion and amortization (DD&A) 15 14 40 47      
Selling, general and administrative expenses 85 76 282 261      
Exploration and research expenses 35 26 83 62      
Environmental obligations and shutdown costs   20 44 115      
Gain on sales of assets (16)   (16)        
Operating income (222) (286) (721) (764)      
Interest expense, net (69) (46) (169) (187)      
Other Nonoperating Income (Expense) 20 34 54 128      
Provision for (benefit from) income taxes (4) 47 (33) (15)      
Equity in affiliated companies’ net (losses) earnings 1 4 0 7      
Net income attributable to noncontrolling interests 8 17 (33) (19)      
Total assets 4,255 4,078 4,255 4,078      
Capital expenditures 59 63 166 152      
Asset write-down   32   32      
Abandonment obligations       99      
Corporate And Eliminations | Miami Smelter              
Segment Reporting Information [Line Items]              
Production and delivery     73        
Intersegment              
Segment Reporting Information [Line Items]              
Revenues 0 0 0 0      
Intersegment | North America              
Segment Reporting Information [Line Items]              
Revenues 1,882 1,539 4,908 4,477      
Intersegment | South America              
Segment Reporting Information [Line Items]              
Revenues 231 193 720 477      
Morenci | Operating Segments | North America              
Segment Reporting Information [Line Items]              
Revenues 46 40 192 90      
Production and delivery 499 492 1,353 1,389      
Depreciation, depletion and amortization (DD&A) 55 47 151 140      
Selling, general and administrative expenses 0 0 1 1      
Exploration and research expenses 11 4 25 13      
Environmental obligations and shutdown costs   0 (7) 0      
Gain on sales of assets 0   0        
Operating income 134 50 375 227      
Interest expense, net 0 0 0 0      
Other Nonoperating Income (Expense) (1) (1) (3) (1)      
Provision for (benefit from) income taxes 0 0 0 0      
Equity in affiliated companies’ net (losses) earnings 0 0 0 0      
Net income attributable to noncontrolling interests 0 0 0 0      
Total assets 3,289 3,172 3,289 3,172      
Capital expenditures 66 48 195 139      
Morenci | Intersegment | North America              
Segment Reporting Information [Line Items]              
Revenues 653 553 1,706 1,680      
Other Individually Immaterial Operating Segments | Operating Segments | North America              
Segment Reporting Information [Line Items]              
Revenues 12 12 184 62      
Production and delivery 895 811 2,467 2,289      
Depreciation, depletion and amortization (DD&A) 79 62 225 187      
Selling, general and administrative expenses 1 1 2 2      
Exploration and research expenses 4 4 15 21      
Environmental obligations and shutdown costs   0 0 0      
Gain on sales of assets 0   0        
Operating income 262 120 677 360      
Interest expense, net 0 0 (1) (1)      
Other Nonoperating Income (Expense) 3 10 7 9      
Provision for (benefit from) income taxes 0 0 0 0      
Equity in affiliated companies’ net (losses) earnings 0 0 0 0      
Net income attributable to noncontrolling interests 0 0 0 0      
Total assets 7,342 6,647 7,342 6,647      
Capital expenditures 249 215 648 604      
Other Individually Immaterial Operating Segments | Operating Segments | South America              
Segment Reporting Information [Line Items]              
Revenues 204 237 599 699      
Production and delivery 166 187 545 538      
Depreciation, depletion and amortization (DD&A) 17 18 56 51      
Selling, general and administrative expenses 0 0 1 0      
Exploration and research expenses 0 (1) 2 2      
Environmental obligations and shutdown costs   0 0 0      
Gain on sales of assets 0   0        
Operating income 26 33 122 108      
Interest expense, net 0 0 0 0      
Other Nonoperating Income (Expense) 6 (2) 7 11      
Provision for (benefit from) income taxes (10) (10) (44) (45)      
Equity in affiliated companies’ net (losses) earnings 0 0 0 0      
Net income attributable to noncontrolling interests (2) (12) (23) (48)      
Total assets 2,147 2,013 2,147 2,013      
Capital expenditures 11 18 36 63      
Other Individually Immaterial Operating Segments | Intersegment | North America              
Segment Reporting Information [Line Items]              
Revenues 1,229 986 3,202 2,797      
Other Individually Immaterial Operating Segments | Intersegment | South America              
Segment Reporting Information [Line Items]              
Revenues 5 0 127 0      
Cerro Verde | Operating Segments | South America              
Segment Reporting Information [Line Items]              
Revenues 979 886 2,732 2,787      
Production and delivery 636 630 1,813 1,912      
Depreciation, depletion and amortization (DD&A) 97 92 282 281      
Selling, general and administrative expenses 2 2 5 6      
Exploration and research expenses 3 3 9 9      
Environmental obligations and shutdown costs   0 0 0      
Gain on sales of assets 0   0        
Operating income 467 352 1,216 1,056      
Interest expense, net (5) (6) (13) (16)      
Other Nonoperating Income (Expense) 17 22 69 38      
Provision for (benefit from) income taxes (192) (148) (502) (430)      
Equity in affiliated companies’ net (losses) earnings 0 0 0 0      
Net income attributable to noncontrolling interests (143) (114) (374) (332)      
Total assets 8,290 8,276 8,290 8,276      
Capital expenditures 99 82 251 209      
Labor and Related Expense   34   99      
Cerro Verde | Intersegment | South America              
Segment Reporting Information [Line Items]              
Revenues 226 193 593 477      
Grasberg Segment | Operating Segments | Indonesia              
Segment Reporting Information [Line Items]              
Revenues 2,675 2,856 7,658 7,689      
Production and delivery 1,024 918 2,726 2,451      
Depreciation, depletion and amortization (DD&A) 331 340 906 923      
Selling, general and administrative expenses 36 32 98 93      
Exploration and research expenses 2 2 5 8      
Environmental obligations and shutdown costs   0 0 0      
Gain on sales of assets 0   0        
Operating income 1,282 1,690 3,927 4,600      
Interest expense, net (25) (10) (50) (17)      
Other Nonoperating Income (Expense) 16 42 47 110      
Provision for (benefit from) income taxes (466) (625) (1,431) (1,524)      
Equity in affiliated companies’ net (losses) earnings (9) 6 0 7      
Net income attributable to noncontrolling interests (436) (601) (1,359) (1,664)      
Total assets 27,464 27,474 27,464 27,474      
Capital expenditures 483 713 1,927 2,203      
Remediation costs 26   56        
Grasberg Segment | Operating Segments | Indonesia | Mud Rush              
Segment Reporting Information [Line Items]              
Production and delivery (195)   (195)        
Idle facility costs 128   128        
Recovery costs 43   43        
DD&A, idle facilities 24   24        
Grasberg Segment | Intersegment | Indonesia              
Segment Reporting Information [Line Items]              
Revenues 0 126 4 386      
Molybdenum              
Segment Reporting Information [Line Items]              
Capital expenditures     74 88      
Molybdenum | Operating Segments              
Segment Reporting Information [Line Items]              
Revenues 0 0 0 0      
Production and delivery 150 140 400 393      
Depreciation, depletion and amortization (DD&A) 22 19 74 51      
Selling, general and administrative expenses 0 0 0 0      
Exploration and research expenses 0 0 1 0      
Environmental obligations and shutdown costs   0 0 0      
Gain on sales of assets 0   0        
Operating income 5 (27) 59 (29)      
Interest expense, net 0 0 0 0      
Other Nonoperating Income (Expense) 0 0 (1) 0      
Provision for (benefit from) income taxes 0 0 0 0      
Equity in affiliated companies’ net (losses) earnings 0 0 0 0      
Net income attributable to noncontrolling interests 0 0 0 0      
Total assets 2,037 1,955 2,037 1,955      
Capital expenditures 28 25 74 88      
Molybdenum | Intersegment              
Segment Reporting Information [Line Items]              
Revenues 177 132 534 415      
Rod and Refining Segment | Operating Segments              
Segment Reporting Information [Line Items]              
Revenues 1,774 1,560 5,090 4,742      
Production and delivery 1,773 1,562 5,088 4,741      
Depreciation, depletion and amortization (DD&A) 2 2 4 4      
Selling, general and administrative expenses 0 0 0 0      
Exploration and research expenses 0 0 0 0      
Environmental obligations and shutdown costs   0 0 0      
Gain on sales of assets 0   0        
Operating income 11 7 27 29      
Interest expense, net 0 0 0 0      
Other Nonoperating Income (Expense) (1) (1) (2) (1)      
Provision for (benefit from) income taxes 0 0 0 0      
Equity in affiliated companies’ net (losses) earnings 0 0 0 0      
Net income attributable to noncontrolling interests 0 0 0 0      
Total assets 389 294 389 294      
Capital expenditures 19 7 62 23      
Rod and Refining Segment | Intersegment              
Segment Reporting Information [Line Items]              
Revenues 12 11 29 32      
Atlantic Copper Smelting and Refining Segment | Operating Segments              
Segment Reporting Information [Line Items]              
Revenues 768 759 2,335 2,330      
Production and delivery 753 754 2,278 2,263      
Depreciation, depletion and amortization (DD&A) 7 6 21 20      
Selling, general and administrative expenses 7 6 23 21      
Exploration and research expenses 0 0 0 0      
Environmental obligations and shutdown costs   0 0 0      
Gain on sales of assets 0   0        
Operating income 7 (1) 25 34      
Interest expense, net (8) (10) (26) (28)      
Other Nonoperating Income (Expense) (1) (7) (20) 1      
Provision for (benefit from) income taxes 3 (1) (9) 11      
Equity in affiliated companies’ net (losses) earnings 0 0 0 0      
Net income attributable to noncontrolling interests 0 0 0 0      
Total assets 1,615 1,491 1,615 1,491      
Capital expenditures 42 28 130 88      
Atlantic Copper Smelting and Refining Segment | Intersegment              
Segment Reporting Information [Line Items]              
Revenues 6 6 12 8      
Corporate And Eliminations | Intersegment              
Segment Reporting Information [Line Items]              
Revenues $ (2,308) $ (2,007) $ (6,207) $ (5,795)