Dispositions (Tables)

3 Months Ended

Mar. 31, 2017

Dispositions And Acquisitions [Abstract]

Schedule of Disposal

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

	Three Months Ended
	March 31,
	2017				2016
Revenuesa	$	9			$	285
Costs and expenses:
Production and delivery costs	—				226
Depreciation, depletion and amortization	—				60
Interest expense allocated from parent	—				10			b
Income (loss) before income taxes and estimated loss on disposal	9				(11		)
Net gain on disposal	32			c	—
Net income (loss) before income taxes	41				(11		)
(Provision for) benefit from income taxes	(3		)		7
Net income (loss) from discontinued operations	$	38			$	(4	)

a. In accordance with accounting guidance, amounts are net of recognition (eliminations) of intercompany sales totaling $9 million in first-quarter 2017 and $(32) million in first-quarter 2016.

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

c. Includes a $36 million gain associated with the change in the fair value of contingent consideration.

Cash flows from discontinued operations included in the consolidated statements of cash flows for the three months endedMarch 31, 2016, follow (in millions):

Net cash provided by operating activities	$	89
Net cash used in investing activities	(36		)
Net cash used in financing activities	(3		)
Increase in cash and cash equivalents in assets held for sale	$	50