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Guarantor Financial Statements (Unaudited) (Tables)
 3 Months Ended
Mar. 31, 2016
Guarantor Financial Statements [Abstract]  
Condensed Consolidating Balance Sheets [Table Text Block]
CONDENSED CONSOLIDATING BALANCE SHEET
March 31, 2016
 
FCX
 
FM O&G LLC
 
Non-guarantor
 
 
 
Consolidated
 
Issuer
 
Guarantor
 
Subsidiaries
 
Eliminations
 
FCX
ASSETS
 
 
 
 
 
 
 
 
 
Current assets
$
272

 
$
2,600

 
$
8,092

 
$
(3,731
)
 
$
7,233

Property, plant, equipment and mining development costs, net
25

 
59

 
27,292

 
—

 
27,376

Oil and gas properties, net - full cost method:
 
 
 
 
 
 
 
 
 
Subject to amortization, less accumulated amortization and impairments
—

 
517

 
1,183

 
—

 
1,700

Not subject to amortization
—

 
415

 
1,326

 
2

 
1,743

Investments in consolidated subsidiaries
20,674

 
—

 
—

 
(20,674
)
 
—

Other assets
1,135

 
34

 
4,533

 
(1,090
)
 
4,612

Total assets
$
22,106

 
$
3,625

 
$
42,426

 
$
(25,493
)
 
$
42,664

 
 
 
 
 
 
 
 
 
 
LIABILITIES AND EQUITY
 
 
 
 
 
 
 
 
 
Current liabilities
$
2,714

 
$
660

 
$
4,782

 
$
(3,730
)
 
$
4,426

Long-term debt, less current portion
14,599

 
6,592

 
11,818

 
(13,371
)
 
19,638

Deferred income taxes
1,060

a 
—

 
3,382

 
—

 
4,442

Environmental and asset retirement obligations, less current portion
—

 
310

 
3,452

 
—

 
3,762

Investments in consolidated subsidiaries
—

 
483

 
7,775

 
(8,258
)
 
—

Other liabilities
41

 
3,355

 
1,751

 
(3,488
)
 
1,659

Total liabilities
18,414

 
11,400

 
32,960

 
(28,847
)
 
33,927

 
 
 
 
 
 
 
 
 
 
Redeemable noncontrolling interest
—

 
—

 
767

 
—

 
767

 
 
 
 
 
 
 
 
 
 
Equity:
 
 
 
 
 
 
 
 
 
Stockholders' equity
3,692

 
(7,775
)
 
4,966

 
2,809

 
3,692

Noncontrolling interests
—

 
—

 
3,733

 
545

 
4,278

Total equity
3,692

 
(7,775
)
 
8,699

 
3,354

 
7,970

Total liabilities and equity
$
22,106

 
$
3,625

 
$
42,426

 
$
(25,493
)
 
$
42,664

a.
All U.S. related deferred income taxes are recorded at the parent company.
CONDENSED CONSOLIDATING BALANCE SHEET
December 31, 2015
 
FCX
 
FM O&G LLC
 
Non-guarantor
 
 
 
Consolidated
 
Issuer
 
Guarantor
 
Subsidiaries
 
Eliminations
 
FCX
ASSETS
 
 
 
 
 
 
 
 
 
Current assets
$
181

 
$
3,831

 
$
10,982

 
$
(7,532
)
 
$
7,462

Property, plant, equipment and mining development costs, net
26

 
57

 
27,426

 
—

 
27,509

Oil and gas properties, net - full cost method:
 
 
 
 
 
 
 
 
 
Subject to amortization, less accumulated amortization and impairments
—

 
710

 
1,552

 
—

 
2,262

Not subject to amortization
—

 
1,393

 
3,432

 
6

 
4,831

Investments in consolidated subsidiaries
24,311

 
—

 
—

 
(24,311
)
 
—

Other assets
5,038

 
1,826

 
4,447

 
(6,798
)
 
4,513

Total assets
$
29,556

 
$
7,817

 
$
47,839

 
$
(38,635
)
 
$
46,577

 
 
 
 
 
 
 
 
 
 
LIABILITIES AND EQUITY
 
 
 
 
 
 
 
 
 
Current liabilities
$
6,012

 
$
666

 
$
5,155

 
$
(7,526
)
 
$
4,307

Long-term debt, less current portion
14,735

 
5,883

 
11,594

 
(12,433
)
 
19,779

Deferred income taxes
941

a 
—

 
3,347

 
—

 
4,288

Environmental and asset retirement obligations, less current portion
—

 
305

 
3,434

 
—

 
3,739

Investment in consolidated subsidiary
—

 
—

 
2,397

 
(2,397
)
 
—

Other liabilities
40

 
3,360

 
1,747

 
(3,491
)
 
1,656

Total liabilities
21,728

 
10,214

 
27,674

 
(25,847
)
 
33,769

 
 
 
 
 
 
 
 
 
 
Redeemable noncontrolling interest
—

 
—

 
764

 
—

 
764

 
 
 
 
 
 
 
 
 
 
Equity:
 
 
 
 
 
 
 
 
 
Stockholders' equity
7,828

 
(2,397
)
 
15,725

 
(13,328
)
 
7,828

Noncontrolling interests
—

 
—

 
3,676

 
540

 
4,216

Total equity
7,828

 
(2,397
)
 
19,401

 
(12,788
)
 
12,044

Total liabilities and equity
$
29,556

 
$
7,817

 
$
47,839

 
$
(38,635
)
 
$
46,577

a.
All U.S. related deferred income taxes are recorded at the parent company.
Condensed Consolidating Statements of Income [Table Text Block]
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE (LOSS) INCOME

Three Months Ended March 31, 2016
 
 
 
 
 
 
 
 
 
 
FCX
 
FM O&G LLC
 
Non-guarantor
 
 
 
Consolidated
 
Issuer
 
Guarantor
 
Subsidiaries
 
Eliminations
 
FCX
Revenues
$
—

 
$
78

 
$
3,449

 
$
—

 
$
3,527

Total costs and expenses
27

 
1,629

a 
5,741

a 
6

 
7,403

Operating loss
(27
)
 
(1,551
)
 
(2,292
)
 
(6
)
 
(3,876
)
Interest expense, net
(137
)
 
(4
)
 
(114
)
 
55

 
(200
)
Other income (expense), net
50

 
—

 
42

 
(54
)
 
38

Loss before income taxes and equity in affiliated companies' net (losses) earnings
(114
)
 
(1,555
)
 
(2,364
)
 
(5
)
 
(4,038
)
(Provision for) benefit from income taxes
(1,783
)
 
616

 
1,095

 
2

 
(70
)
Equity in affiliated companies' net (losses) earnings
(2,286
)
 
(2,704
)
 
(3,630
)
 
8,627

 
7

Net (loss) income
(4,183
)
 
(3,643
)
 
(4,899
)
 
8,624

 
(4,101
)
Net income and preferred dividends attributable to noncontrolling interests
—

 
—

 
(77
)
 
(6
)
 
(83
)
Net (loss) income attributable to common stockholders
$
(4,183
)
 
$
(3,643
)
 
$
(4,976
)
 
$
8,618

 
$
(4,184
)
 
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss)
—

 
—

 
—

 
—

 
—

Total comprehensive (loss) income
$
(4,183
)
 
$
(3,643
)
 
$
(4,976
)
 
$
8,618

 
$
(4,184
)
a.
Includes charges totaling $1.3 billion at the FM O&G LLC guarantor and $2.5 billion at the non-guarantor subsidiaries related to impairment of FCX's oil and gas properties pursuant to full cost accounting rules.
 
 
 
 
 
 
 
 
 
 

Three Months Ended March 31, 2015
 
 
 
 
 
 
 
 
 
 
FCX
 
FM O&G LLC
 
Non-guarantor
 
 
 
Consolidated
 
Issuer
 
Guarantor
 
Subsidiaries
 
Eliminations
 
FCX
Revenues
$
—

 
$
181

 
$
3,972

 
$
—

 
$
4,153

Total costs and expenses
16

 
1,318

a 
5,798

a 
(16
)

7,116

Operating (loss) income
(16
)
 
(1,137
)
 
(1,826
)
 
16

 
(2,963
)
Interest expense, net
(115
)
 
(4
)
 
(57
)
 
30

 
(146
)
Other income (expense), net
29

 
—

 
8

 
(30
)
 
7

(Loss) income before income taxes and equity in affiliated companies' net (losses) earnings
(102
)
 
(1,141
)
 
(1,875
)
 
16

 
(3,102
)
(Provision for) benefit from income taxes
(421
)
 
1,157

 
(35
)
 
(6
)
 
695

Equity in affiliated companies' net (losses) earnings
(1,951
)
 
(2,359
)
 
(3,530
)
 
7,841

 
1

Net (loss) income
(2,474
)
 
(2,343
)
 
(5,440
)
 
7,851

 
(2,406
)
Net income and preferred dividends attributable to noncontrolling interests
—

 
—

 
(56
)
 
(12
)
 
(68
)
Net (loss) income attributable to common stockholders
$
(2,474
)
 
$
(2,343
)
 
$
(5,496
)
 
$
7,839

 
$
(2,474
)
 
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss)
12

 
—

 
12

 
(12
)
 
12

Total comprehensive (loss) income
$
(2,462
)
 
$
(2,343
)
 
$
(5,484
)
 
$
7,827

 
$
(2,462
)

a.
Includes charges totaling $1.1 billion at the FM O&G LLC guarantor and $2.0 billion at the non-guarantor subsidiaries related to impairment of FCX's oil and gas properties pursuant to full cost accounting rules.
 
 
 
 
 
 
 
 
 
 
Condensed Consolidating Statements of Cash Flows [Table Text Block]
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
Three Months Ended March 31, 2016
 
FCX
 
FM O&G LLC
 
Non-guarantor
 
 
 
Consolidated
 
Issuer
 
Guarantor
 
Subsidiaries
 
Eliminations
 
FCX
Cash flow from operating activities:
 
 
 
 
 
 
 
 
 
Net (loss) income
$
(4,183
)
 
$
(3,643
)
 
$
(4,899
)
 
$
8,624

 
$
(4,101
)
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
 
 
 
 
 
 
 
 
 
Depreciation, depletion and amortization
1

 
51

 
677

 
(7
)
 
722

Impairment of oil and gas properties
—

 
1,291

 
2,483

 
13

 
3,787

Equity in losses (earnings) of consolidated subsidiaries
2,286

 
2,704

 
3,630

 
(8,627
)
 
(7
)
Other, net
127

 
7

 
17

 
—

 
151

Changes in working capital and other tax payments
1,652

 
(442
)
 
(1,024
)
 
2

 
188

Net cash (used in) provided by operating activities
(117
)
 
(32
)
 
884

 
5

 
740

 
 
 
 
 
 
 
 
 
 
Cash flow from investing activities:
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
(244
)
 
(736
)
 
(2
)
 
(982
)
Intercompany loans
(561
)
 
(377
)
 
—

 
938

 
—

Dividends from (investments in) consolidated subsidiaries
358

 
(41
)
 
35

 
(352
)
 
—

Other, net
—

 
2

 
—

 
—

 
2

Net cash (used in) provided by investing activities
(203
)
 
(660
)
 
(701
)
 
584

 
(980
)
 
 
 
 
 
 
 
 
 
 
Cash flow from financing activities:
 
 
 
 
 
 
 
 
 
Proceeds from debt
1,060

 
—

 
736

 
—

 
1,796

Repayments of debt
(750
)
 
—

 
(692
)
 
—

 
(1,442
)
Intercompany loans
—

 
716

 
222

 
(938
)
 
—

Net proceeds from sale of common stock
32

 
—

 
42

 
(42
)
 
32

Cash dividends and distributions paid, and contributions received
(4
)
 
—

 
(373
)
 
355

 
(22
)
Other, net
(18
)
 
(24
)
 
(11
)
 
36

 
(17
)
Net cash provided by (used in) financing activities
320

 
692

 
(76
)
 
(589
)
 
347

 
 
 
 
 
 
 
 
 
 
Net increase in cash and cash equivalents
—

 
—

 
107

 
—

 
107

Cash and cash equivalents at beginning of period
—

 
—

 
224

 
—

 
224

Cash and cash equivalents at end of period
$
—

 
$
—

 
$
331

 
$
—

 
$
331


CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
Three Months Ended March 31, 2015
 
FCX
 
FM O&G LLC
 
Non-guarantor
 
 
 
Consolidated
 
Issuer
 
Guarantor
 
Subsidiaries
 
Eliminations
 
FCX
Cash flow from operating activities:
 
 
 
 
 
 
 
 
 
Net (loss) income
$
(2,474
)
 
$
(2,343
)
 
$
(5,440
)
 
$
7,851

 
$
(2,406
)
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
 
 
 
 
 
 
 
 
 
Depreciation, depletion and amortization
1

 
119

 
835

 
(16
)
 
939

Impairment of oil and gas properties
—

 
1,062

 
2,042

 
—

 
3,104

Net gains on crude oil derivative contracts
—

 
(52
)
 
—

 
—

 
(52
)
Equity in losses (earnings) of consolidated subsidiaries
1,951

 
2,359

 
3,530

 
(7,841
)
 
(1
)
Other, net
(701
)
 
6

 
(86
)
 
—

 
(781
)
Changes in working capital and other tax payments
1,171

 
(1,321
)
 
58

 
6

 
(86
)
Net cash (used in) provided by operating activities
(52
)
 
(170
)
 
939

 
—

 
717

 
 
 
 
 
 
 
 
 
 
Cash flow from investing activities:
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
(302
)
 
(1,565
)
 
—

 
(1,867
)
Intercompany loans
(905
)
 
(400
)
 
—


1,305

 
—

Dividends from (investments in) consolidated subsidiaries
310

 
(14
)
 
32

 
(328
)
 
—

Other, net
—

 
—

 
127

 
—

 
127

Net cash (used in) provided by investing activities
(595
)
 
(716
)
 
(1,406
)
 
977

 
(1,740
)
 
 
 
 
 
 
 
 
 
 
Cash flow from financing activities:
 
 
 
 
 
 
 
 
 
Proceeds from debt
1,515

 
—

 
758

 
—

 
2,273

Repayments of debt
(530
)
 
—

 
(272
)
 
—

 
(802
)
Intercompany loans
—

 
903

 
402

 
(1,305
)
 
—

Cash dividends and distributions paid, and contributions received
(327
)
 
—

 
(319
)
 
296

 
(350
)
Other, net
(11
)
 
(18
)
 
(16
)
 
32

 
(13
)
Net cash provided by (used in) financing activities
647

 
885

 
553

 
(977
)
 
1,108

 
 
 
 
 
 
 
 
 
 
Net (decrease) increase in cash and cash equivalents
—

 
(1
)
 
86

 
—

 
85

Cash and cash equivalents at beginning of period
—

 
1

 
463

 
—

 
464

Cash and cash equivalents at end of period
$
—

 
$
—

 
$
549

 
$
—

 
$
549