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LONG-TERM RECEIVABLES AND OTHER ASSETS (Details) (USD $)
In Millions, except Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Components of long-term receivables [Abstract]    
Income taxes $ 295 $ 0
Loan with Congolese public utility 138 110
Disputed tax assessments 109 0
Loan with La Generale des Carrieres et des Mines (related party) 30 0
Other 103 90
Total long-term receivables 675 200
Components of other assets [Abstract]    
Cost-basis investments - McMoRan Exploration Co. (MMR) 475 [1] 500 [1]
Cost-basis investments - Other 2 3
Equity-basis investments - PT Smelting 125 [2] 11 [2]
Equity-basis investments - Other 47 43
Trust assets 152 [3],[4] 140 [3],[4]
Debt issue costs 40 58
Available for sale securities 9 28
Other 38 14
Total other assets 888 797
Number of shares of MMR 5 3/4% Convertible Perpetual Preferred Stock purchased by the Company   500,000
Dividend rate of MMR preferred stock (in hundredths) 5.75%  
Aggregate purchase price for MMR preferred stock   500
Initial Conversion rate of MMR preferred stock into MMR common stock 62.5 shares of common per share preferred  
Aggregate number of shares of MMR common stock upon assumed initial conversion of MMR preferred stock (in shares)   31,250,000
Initial conversion price per share of MMR common stock (in dollars per share)   $ 16
Unrecognized profit on sales from PT Freeport Indonesia to PT Smelting 2 113
Legally restricted funds for asset retirement obligations at New Mexico mines 151 137
Current portion of trust assets $ 0 $ 8
[1] In December 2010, FCX purchased 500,000 shares of MMR’s 5¾% Convertible Perpetual Preferred Stock (the Preferred Stock) for an aggregate purchase price of $500 million.The Preferred Stock is initially convertible into 62.5 shares of MMR common stock per share of Preferred Stock (an aggregate of 31.25 million shares of MMR common stock), at an initial conversion price of $16 per share of MMR common stock. Dividends received are recorded as a return of investment because of MMR's reported losses. Several of FCX’s directors and executive officers also serve as directors or executive officers of MMR.
[2] Amounts are reduced by unrecognized profits on sales from PT Freeport Indonesia to PT Smelting totaling $2 million at December 31, 2011, and $113 million at December 31, 2010.
[3] The current portion, which is included in other current assets, totaled $8 million at December 31, 2010, and none at December 31, 2011.
[4] Includes $151 million in 2011 and $137 million in 2010 of legally restricted funds for AROs at the Chino, Tyrone and Cobre mines (refer to Note 13 for further discussion).