DISPOSITIONS AND ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2016

Dispositions And Acquisitions [Abstract]

Schedule of Disposal

The carrying amounts of TFHL's major classes of assets, liabilities and noncontrolling interests, which were held for sale in the consolidated balance sheets at December 31, 2015, follow:

Assets
Cash and cash equivalents	$	29
Inventories	584
Receivables and other current assets	131
Total current assets held for sale	$	744	a
Property, plant, equipment and mine development costs, net	$	3,261
Inventories	608
Other assets	241
Total long-term assets held for sale	$	4,110	a
Liabilities
Accounts payable and accrued liabilities	$	108
Total current liabilities held for sale	$	108	a
Deferred income taxes	$	681
Asset retirement obligations and other liabilities	37
Total long-term liabilities held for sale	$	718	a
Noncontrolling interests	$	1,178

a. Amount differs from the totals on FCX's consolidated balance sheets because of other assets held for sale.

Net (loss) income from discontinued operations in the consolidated statements of operations consists of the following:

	Years Ended December 31,
	2016				2015			2014
Revenuesa	$	959			$	1,270		$	1,437
Costs and expenses:
Production and delivery costs	833				852			782
Depreciation, depletion and amortization	80			b	257			228
Interest expense allocated from parentc	39				28			24
Other costs and expenses, net	10				26			27
(Loss) income before income taxes and loss on disposal	(3		)		107			376
Loss on disposal	(198		)	d	—			—
Net (loss) income before income taxes	(201		)		107			376
Benefit from (provision for) income taxes	8				(16		)	(99		)
Net (loss) income from discontinued operations	$	(193	)		$	91		$	277

a. In accordance with accounting guidance, amounts are net of eliminations of intercompany sales totaling $157 million in 2016, $114 million in 2015 and $121 million in 2014.

b. In accordance with accounting guidance, depreciation, depletion and amortization is not recognized subsequent to classification as assets held for sale, which occurred in May 2016.

c. In accordance with accounting guidance, interest associated with FCX's unsecured bank term loan that was required to be repaid as a result of the sale of TFHL has been allocated to discontinued operations.

d. Includes a charge of $33 million associated with the settlement agreement entered into with Gécamines, partly offset by a gain of $13 million for the fair value of contingent consideration.

Cash flows from discontinued operations included in the consolidated statements of cash flows follow:

	Years Ended December 31,
	2016			2015			2014
Net cash provided by operating activities	$	241		$	217		$	529
Net cash used in investing activities	(73		)	(253		)	(174		)
Net cash used in financing activities	(123		)	(82		)	(285		)
Increase (decrease) in cash and cash equivalents in assets held for sale	$	45		$	(118	)	$	70

The following table provides balances of the major classes of assets and liabilities for the Candelaria and Ojos del Salado mines at November 3, 2014:

Current assets	$	482
Long-term assets	1,155
Current liabilities	129
Long-term liabilities	89
Noncontrolling interests	243