SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2011

Accounting Policies [Abstract]

Schedule of diluted earnings per share

A reconciliation of net income and weighted-average shares of common stock outstanding for purposes of calculating diluted net income per share for the years ended December 31 follows:

	2011				2010			2009
Net income	$	5,747			$	5,544		$	3,534
Net income attributable to noncontrolling interests	(1,187		)		(1,208		)	(785		)
Preferred dividends	—				(63		)	(222		)
Net income attributable to FCX common stockholders	4,560				4,273			2,527
Plus income impact of assumed conversion of:
6¾% Mandatory Convertible Preferred Stocka	—				63			194
5½% Convertible Perpetual Preferred Stockb	—				—			28
Diluted net income attributable to FCX common
stockholders	$	4,560			$	4,336		$	2,749
Weighted-average shares of common stock outstanding	947				915			829
Add stock issuable upon conversion, exercise or vesting of
(refer to Note 11):
6¾% Mandatory Convertible Preferred Stocka	—				26			79
5½% Convertible Perpetual Preferred Stockb	—				—			25
Dilutive stock options	7			c	6			3
Restricted stock units	1				2			2
Weighted-average shares of common stock outstanding for
purposes of calculating diluted net income per share	955				949			938
Diluted net income per share attributable to FCX
common stockholders	$	4.78			$	4.57		$	2.93

a. All outstanding 6¾% Mandatory Convertible Preferred Stock automatically converted on May 1, 2010, into FCX common stock at a conversion rate of 2.7432 shares of FCX common stock.

b. In September 2009, FCX redeemed the remaining outstanding shares of its 5½% Convertible Perpetual Preferred Stock.

c. Potential additional shares of common stock that were anti-dilutive totaled approximately two million.