Debt and Equity Transactions (Unaudited) Debt (Tables)

9 Months Ended

Sep. 30, 2016

Debt Instrument [Line Items]

Schedule of Extinguishment of Debt [Table Text Block]

A summary of these debt extinguishments follows (in millions):

	Principal Amount		Discounts/Deferred Debt Issuance Costs		Book Value		Redemption Value		Gain
3.55% Senior Notes due 2022	$	108	$	1	$	107	$	96	$	11
3.875% Senior Notes due 2023	77		—		77		68		9
5.40% Senior Notes due 2034	50		1		49		41		8
5.450% Senior Notes due 2043	134		2		132		106		26
Total	$	369	$	4	$	365	$	311	$	54

Schedule of Debt [Table Text Block]

The components of debt follow (in millions):

	September 30, 2016			December 31, 2015
Term Loan	$	2,448		$	3,032
Revolving credit facility	—			—
Cerro Verde credit facility	1,612			1,781
Cerro Verde shareholder loans	261			259
Lines of credit	129			442
Senior notes and debentures:
Issued by FCX	11,552			11,908
Issued by Freeport-McMoRan Oil & Gas LLC (FM O&G LLC)	2,517			2,539
Issued by FMC	359			359
Other (including equipment capital leases and other short-term borrowings)	104			108
Total debta	18,982			20,428
Less current portion of debt	(802		)	(649		)
Long-term debt	$	18,180		$	19,779

a. Includes additions for unamortized fair value adjustments totaling $187 million at September 30, 2016, and $210 million at December 31, 2015, and net reductions for unamortized debt issuance costs and unamortized discounts of $111 million at September 30, 2016, and $129 million at December