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Guarantor Financial Statements (Tables)
 9 Months Ended
Sep. 30, 2019
Guarantor Financial Statements [Abstract]  
Condensed Consolidating Balance Sheets [Table Text Block]
CONDENSED CONSOLIDATING BALANCE SHEET
September 30, 2019
 
FCX
 
FM O&G LLC
 
Non-guarantor
 
 
 
Consolidated
 
Issuer
 
Guarantor
 
Subsidiaries
 
Eliminations
 
FCX
ASSETS
 
 
 
 
 
 
 
 
 
Current assets
$
46

 
$
606

 
$
8,298

 
$
(603
)
 
$
8,347

Property, plant, equipment and mine development costs, net
18

 
5

 
29,300

 
7

 
29,330

Investments in consolidated subsidiaries
17,523

 
—

 
—

 
(17,523
)
 
—

Other assets
1,340

 
17

 
3,008

 
(1,099
)
 
3,266

Total assets
$
18,927

 
$
628

 
$
40,606

 
$
(19,218
)
 
$
40,943

 
 
 
 
 
 
 
 
 
 
LIABILITIES AND EQUITY
 
 
 
 
 
 
 
 
 
Current liabilities
$
312

 
$
42

 
$
3,662

 
$
(635
)
 
$
3,381

Long-term debt, less current portion
8,600

 
7,215

 
6,003

 
(11,903
)
 
9,915

Deferred income taxes
498

a 
—

 
3,747

 
—

 
4,245

Environmental and asset retirement obligations, less current portion
—

 
237

 
3,321

 
—

 
3,558

Investments in consolidated subsidiaries
—

 
630

 
10,837

 
(11,467
)
 
—

Other liabilities
73

 
3,341

 
2,376

 
(3,488
)
 
2,302

Total liabilities
9,483

 
11,465

 
29,946

 
(27,493
)
 
23,401

 
 
 
 
 
 
 
 
 
 
Equity:
 
 
 
 
 
 
 
 
 
Stockholders’ equity
9,444

 
(10,837
)
 
8,028

 
2,809

 
9,444

Noncontrolling interests
—

 
—

 
2,632

 
5,466

 
8,098

Total equity
9,444

 
(10,837
)
 
10,660

 
8,275

 
17,542

Total liabilities and equity
$
18,927

 
$
628

 
$
40,606

 
$
(19,218
)
 
$
40,943

a.
All U.S.-related deferred income taxes are recorded at the parent company.
CONDENSED CONSOLIDATING BALANCE SHEET
December 31, 2018
 
FCX
 
FM O&G LLC
 
Non-guarantor
 
 
 
Consolidated
 
Issuer
 
Guarantor
 
Subsidiaries
 
Eliminations
 
FCX
ASSETS
 
 
 
 
 
 
 
 
 
Current assets
$
309

 
$
620

 
$
10,376

 
$
(585
)
 
$
10,720

Property, plant, equipment and mine development costs, net
19

 
7

 
27,984

 
—

 
28,010

Investments in consolidated subsidiaries
19,064

 
—

 
—

 
(19,064
)
 
—

Other assets
880

 
23

 
3,218

 
(635
)
 
3,486

Total assets
$
20,272

 
$
650

 
$
41,578

 
$
(20,284
)
 
$
42,216

 
 
 
 
 
 
 
 
 
 
LIABILITIES AND EQUITY
 
 
 
 
 
 
 
 
 
Current liabilities
$
245

 
$
34

 
$
3,667

 
$
(617
)
 
$
3,329

Long-term debt, less current portion
9,594

 
6,984

 
5,649

 
(11,103
)
 
11,124

Deferred income taxes
524

a 
—

 
3,508

 
—

 
4,032

Environmental and asset retirement obligations, less current portion
—

 
227

 
3,382

 
—

 
3,609

Investments in consolidated subsidiaries
—

 
578

 
10,513

 
(11,091
)
 
—

Other liabilities
111

 
3,340

 
2,265

 
(3,486
)
 
2,230

Total liabilities
10,474

 
11,163

 
28,984

 
(26,297
)
 
24,324

 
 
 
 
 
 
 
 
 
 
Equity:
 
 
 
 
 
 
 
 
 
Stockholders’ equity
9,798

 
(10,513
)
 
9,912

 
601

 
9,798

Noncontrolling interests
—

 
—

 
2,682

 
5,412

 
8,094

Total equity
9,798

 
(10,513
)
 
12,594

 
6,013

 
17,892

Total liabilities and equity
$
20,272

 
$
650

 
$
41,578

 
$
(20,284
)
 
$
42,216

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 September 30, 2019
 
 
 
 
 
 
 
 
 
 
FCX
 
FM O&G LLC
 
Non-guarantor
 
 
 
Consolidated
 
Issuer
 
Guarantor
 
Subsidiaries
 
Eliminations
 
FCX
Revenues
$
—

 
$
11

 
$
3,142

 
$
—

 
$
3,153

Total costs and expenses
5

 
28

 
3,165

 
(7
)
 
3,191

Operating (loss) income
(5
)
 
(17
)
 
(23
)
 
7

 
(38
)
Interest expense, net
(79
)
 
(79
)
 
(98
)
 
133

 
(123
)
Other (expense) income, net
(52
)
 
—

 
36

 
28

 
12

(Loss) income before income taxes and equity in affiliated companies’ net earnings (losses)
(136
)
 
(96
)
 
(85
)
 
168

 
(149
)
(Provision for) benefit from income taxes
(26
)
 
22

 
(85
)
 
(2
)
 
(91
)
Equity in affiliated companies’ net earnings (losses)
(45
)
 
(36
)
 
(105
)
 
191

 
5

Net (loss) income from continuing operations
(207
)
 
(110
)
 
(275
)
 
357

 
(235
)
Net income from discontinued operations
—

 
—

 
1

 
—

 
1

Net (loss) income
(207
)
 
(110
)
 
(274
)
 
357

 
(234
)
Net loss (income) attributable to noncontrolling interests
—

 
—

 
22

 
5

 
27

Net (loss) income attributable to common stockholders
$
(207
)
 
$
(110
)
 
$
(252
)
 
$
362

 
$
(207
)
 
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss)
12

 
—

 
12

 
(12
)
 
12

Total comprehensive (loss) income
$
(195
)
 
$
(110
)
 
$
(240
)
 
$
350

 
$
(195
)
 
 
 
 
 
 
 
 
 
 
Three Months Ended September 30, 2018
 
 
 
 
 
 
 
 
 
 
FCX
 
FM O&G LLC
 
Non-guarantor
 
 
 
Consolidated
 
Issuer
 
Guarantor
 
Subsidiaries
 
Eliminations
 
FCX
Revenues
$
—

 
$
15

 
$
4,893

 
$
—

 
$
4,908

Total costs and expenses
7

 
(2
)
 
3,588

 
—

 
3,593

Operating (loss) income
(7
)
 
17

 
1,305

 
—

 
1,315

Interest expense, net
(93
)
 
(79
)
 
(96
)
 
125

 
(143
)
Other income (expense), net
124

 
—

 
15

 
(125
)
 
14

Income (loss) before income taxes and equity in affiliated companies’ net earnings (losses)
24

 
(62
)
 
1,224

 
—

 
1,186

(Provision for) benefit from income taxes
(188
)
 
11

 
(345
)
 
—

 
(522
)
Equity in affiliated companies’ net earnings (losses)
720

 
(6
)
 
(54
)
 
(656
)
 
4

Net income (loss) from continuing operations
556

 
(57
)
 
825

 
(656
)
 
668

Net loss from discontinued operations
—

 
—

 
(4
)
 
—

 
(4
)
Net income (loss)
556

 
(57
)
 
821

 
(656
)
 
664

Net income attributable to noncontrolling interests
—

 
—

 
(47
)
 
(61
)
 
(108
)
Net income (loss) attributable to common stockholders
$
556

 
$
(57
)
 
$
774

 
$
(717
)
 
$
556

 
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss)
11

 
—

 
11

 
(11
)
 
11

Total comprehensive income (loss)
$
567

 
$
(57
)
 
$
785

 
$
(728
)
 
$
567

 
 
 
 
 
 
 
 
 
 














CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE (LOSS) INCOME


Nine Months Ended September 30, 2019
 
 
 
 
 
 
 
 
 
 
FCX
 
FM O&G LLC
 
Non-guarantor
 
 
 
Consolidated
 
Issuer
 
Guarantor
 
Subsidiaries
 
Eliminations
 
FCX
Revenues
$
—

 
$
27

 
$
10,464

 
$
—

 
$
10,491

Total costs and expenses
22

 
54

 
10,106

 
(7
)
 
10,175

Operating (loss) income
(22
)
 
(27
)
 
358

 
7

 
316

Interest expense, net
(252
)
 
(247
)
 
(309
)
 
407

 
(401
)
Other income (expense), net
12

 
—

 
59

 
(46
)
 
25

(Loss) income before income taxes and equity in affiliated companies’ net earnings (losses)
(262
)
 
(274
)
 
108

 
368

 
(60
)
(Provision for) benefit from income taxes
(34
)
 
62

 
(207
)
 
(2
)
 
(181
)
Equity in affiliated companies’ net earnings (losses)
48

 
(52
)
 
(257
)
 
268

 
7

Net (loss) income from continuing operations
(248
)
 
(264
)
 
(356
)
 
634

 
(234
)
Net income from discontinued operations
—

 
—

 
2

 
—

 
2

Net (loss) income
(248
)
 
(264
)
 
(354
)
 
634

 
(232
)
Net income attributable to noncontrolling interests
—

 
—

 
(20
)
 
4

 
(16
)
Net (loss) income attributable to common stockholders
$
(248
)
 
$
(264
)
 
$
(374
)
 
$
638

 
$
(248
)
 
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss)
35

 
—

 
35

 
(35
)
 
35

Total comprehensive (loss) income
$
(213
)
 
$
(264
)
 
$
(339
)
 
$
603

 
$
(213
)
 
 
 
 
 
 
 
 
 
 

Nine Months Ended September 30, 2018
FCX
 
FM O&G LLC
 
Non-guarantor
 
 
 
Consolidated
 
Issuer
 
Guarantor
 
Subsidiaries
 
Eliminations
 
FCX
Revenues
$
—

 
$
46

 
$
14,898

 
$
—

 
$
14,944

Total costs and expenses
20

 
(10
)
 
10,506

 
(10
)
 
10,506

Operating (loss) income
(20
)
 
56

 
4,392

 
10

 
4,438

Interest expense, net
(294
)
 
(219
)
 
(273
)
 
350

 
(436
)
Other income (expense), net
357

 
2

 
62

 
(350
)
 
71

Income (loss) before income taxes and equity in affiliated companies’ net earnings (losses)
43

 
(161
)
 
4,181

 
10

 
4,073

(Provision for) benefit from income taxes
(282
)
 
33

 
(1,292
)
 
(2
)
 
(1,543
)
Equity in affiliated companies’ net earnings (losses)
2,356

 
(10
)
 
(133
)
 
(2,208
)
 
5

Net income (loss) from continuing operations
2,117

 
(138
)
 
2,756

 
(2,200
)
 
2,535

Net loss from discontinued operations
—

 
—

 
(19
)
 
—

 
(19
)
Net income (loss)
2,117

 
(138
)
 
2,737

 
(2,200
)
 
2,516

Net income attributable to noncontrolling interests

—

 
—

 
(220
)
 
(179
)
 
(399
)
Net income (loss) attributable to common stockholders
$
2,117

 
$
(138
)
 
$
2,517

 
$
(2,379
)
 
$
2,117

 
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss)
34

 
—

 
34

 
(34
)
 
34

Total comprehensive income (loss)
$
2,151

 
$
(138
)
 
$
2,551

 
$
(2,413
)
 
$
2,151

 
 
 
 
 
 
 
 
 
 
Condensed Consolidating Statements of Cash Flows [Table Text Block]
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

Nine Months Ended September 30, 2019
 
 
 
 
 
 
 
 
 
 
FCX
 
FM O&G LLC
 
Non-guarantor
 
 
 
Consolidated
 
Issuer
 
Guarantor
 
Subsidiaries
 
Eliminations
 
FCX
 Net cash provided by (used in) operating activities
$
352

 
$
(326
)
 
$
1,286

 
$
—

 
$
1,312

 
 
 
 
 
 
 
 
 
 
Cash flow from investing activities:
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
(4
)
 
(1,913
)
 
—

 
(1,917
)
Intercompany loans
(801
)
 
—

 
—

 
801

 
—

Dividends from (investments in) consolidated subsidiaries
1,697

 
—

 
70

 
(1,769
)
 
(2
)
Asset sales and other, net
(1
)
 
98

 
(3
)
 
—

 
94

Net cash provided by (used in) investing activities
895

 
94

 
(1,846
)
 
(968
)
 
(1,825
)
 
 
 
 
 
 
 
 
 
 
Cash flow from financing activities:
 
 
 
 
 
 
 
 
 
Proceeds from debt
1,200

 
—

 
481

 
—

 
1,681

Repayments of debt
(2,202
)
 
—

 
(715
)
 
—

 
(2,917
)
Intercompany loans
—

 
232

 
570

 
(802
)
 
—

Cash dividends paid and contributions received, net
(218
)
 
—

 
(1,696
)
 
1,750

 
(164
)
Other, net
(27
)
 
—

 
(23
)
 
20

 
(30
)
Net cash (used in) provided by financing activities
(1,247
)
 
232

 
(1,383
)
 
968

 
(1,430
)
 
 
 
 
 
 
 
 
 
 
Net decrease in cash, cash equivalents, restricted cash and restricted cash equivalents
—

 
—

 
(1,943
)
 
—

 
(1,943
)
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year
—

 
—

 
4,455

 
—

 
4,455

Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period
$
—

 
$
—

 
$
2,512

 
$
—

 
$
2,512

Nine Months Ended September 30, 2018
 
 
 
 
 
 
 
 
 
 
FCX
 
FM O&G LLC
 
Non-guarantor
 
 
 
Consolidated
 
Issuer
 
Guarantor
 
Subsidiaries
 
Eliminations
 
FCX
 Net cash (used in) provided by operating activities
$
(181
)
 
$
(285
)
 
$
4,391

 
$
—

 
$
3,925

 
 
 
 
 
 
 
 
 
 
Cash flow from investing activities:
 
 
 
 
 
 
 
 
 
Capital expenditures
(2
)
 
—

 
(1,389
)
 
—

 
(1,391
)
Intercompany loans
(558
)
 
—

 
—

 
558

 
—

Dividends from (investments in) consolidated subsidiaries
2,726

 
—

 
65

 
(2,791
)
 
—

Asset sales and other, net
4

 
3

 
(88
)
 
—

 
(81
)
Net cash provided by (used in) investing activities
2,170

 
3

 
(1,412
)
 
(2,233
)
 
(1,472
)
 
 
 
 
 
 
 
 
 
 
Cash flow from financing activities:
 
 
 
 
 
 
 
 
 
Proceeds from debt
—

 
—

 
475

 
—

 
475

Repayments of debt
(1,826
)
 
(52
)
 
(532
)
 
—

 
(2,410
)
Intercompany loans
—

 
327

 
231

 
(558
)
 
—

Cash dividends paid and contributions received, net
(145
)
 
—

 
(3,016
)
 
2,775

 
(386
)
Other, net
(18
)
 
—

 
(17
)
 
16

 
(19
)
Net cash (used in) provided by financing activities
(1,989
)
 
275

 
(2,859
)
 
2,233

 
(2,340
)
 
 
 
 
 
 
 
 
 
 
Net (decrease) increase in cash, cash equivalents, restricted cash and restricted cash equivalents
—

 
(7
)
 
120

 
—

 
113

Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year
—

 
7

 
4,703

 
—

 
4,710

Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period
$
—

 
$
—

 
$
4,823

 
$
—

 
$
4,823