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FINANCIAL INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] The following table provides a reconciliation of total cash, cash equivalents, restricted cash and restricted cash equivalents presented in the consolidated statements of cash flows (in millions):
December 31,
20212020
Balance sheet components:
Cash and cash equivalents$8,068 $3,657 
Restricted cash and restricted cash equivalents included in:
Other current assets114 97 
Other assets132 149 
Total cash, cash equivalents, restricted cash and restricted cash equivalents presented in the consolidated statements of cash flows
$8,314 $3,903 
Unrealized gains (losses) for derivative financial instruments that are designated and qualify as fair value hedge transactions and for the related hedged item
A summary of gains (losses) recognized in revenues for derivative financial instruments related to commodity contracts that are designated and qualify as fair value hedge transactions, including the unrealized gains (losses) on the related hedged item follows (in millions):
 202120202019
Copper futures and swap contracts:
Unrealized (losses) gains:
Derivative financial instruments$(4)$9 $15 
Hedged item - firm sales commitments4 (9)(15)
Realized gains (losses):
Matured derivative financial instruments
65 22 (8)
Schedule of Derivative Instruments A summary of FCX’s embedded derivatives at December 31, 2021, follows:
OpenAverage Price
Per Unit		Maturities
 PositionsContractMarketThrough
Embedded derivatives in provisional sales contracts:    
Copper (millions of pounds)682 $4.37 $4.42 July 2022
Gold (thousands of ounces)223 1,797 1,822 March 2022
Embedded derivatives in provisional purchase contracts:    
Copper (millions of pounds)132 4.38 4.42 April 2022
Realized and unrealized gains (losses) for derivative financial instruments that do not qualify as hedge transactions A summary of the realized and unrealized gains (losses) recognized in operating income for commodity contracts that do not qualify as hedge transactions, including embedded derivatives, follows (in millions):
 202120202019
Embedded derivatives in provisional sales contractsa:
 Copper$425 $259 $34 
 Gold and other(2)45 20 
Copper forward contractsb
(15)3 (7)
a.Amounts recorded in revenues.
b.Amounts recorded in cost of sales as production and delivery costs.
Fair Values of Unsettled Derivative Financial Instruments
A summary of the fair values of unsettled commodity derivative financial instruments follows:
 December 31,
 20212020
Commodity Derivative Assets:
Derivatives designated as hedging instruments:  
Copper futures and swap contracts$12 $15 
Derivatives not designated as hedging instruments:  
Embedded derivatives in provisional sales/purchase contracts64 169 
Copper forward contracts1 — 
Total derivative assets$77 $184 
Commodity Derivative Liabilities:  
Derivatives not designated as hedging instruments:
Embedded derivatives in provisional sales/purchase contracts$27 $21 
Copper forward contracts1 — 
Total derivative liabilities$28 $21 
Offsetting Liabilities [Table Text Block]
A summary of these unsettled commodity contracts that are offset in the balance sheet follows (in millions):
Assets at December 31,Liabilities at December 31,
2021202020212020
Gross amounts recognized:
Commodity contracts:
Embedded derivatives in provisional
sales/purchase contracts$64 $169 $27 $21 
Copper derivatives13 15 1 — 
77 184 28 21 
Less gross amounts of offset:
Commodity contracts:
Embedded derivatives in provisional
sales/purchase contracts3 1 3 1 
Copper derivatives1 — 1 — 
4 1 4 1 
Net amounts presented in balance sheet:
Commodity contracts:
Embedded derivatives in provisional
sales/purchase contracts61 168 24 20 
Copper derivatives12 15 — — 
$73 $183 $24 $20 
Balance sheet classification:
Trade accounts receivable$51 $168 $14 $— 
Other current assets12 15 — — 
Accounts payable and accrued liabilities10 — 10 20 
$73 $183 $24 $20 
Offsetting Assets [Table Text Block]
A summary of these unsettled commodity contracts that are offset in the balance sheet follows (in millions):
Assets at December 31,Liabilities at December 31,
2021202020212020
Gross amounts recognized:
Commodity contracts:
Embedded derivatives in provisional
sales/purchase contracts$64 $169 $27 $21 
Copper derivatives13 15 1 — 
77 184 28 21 
Less gross amounts of offset:
Commodity contracts:
Embedded derivatives in provisional
sales/purchase contracts3 1 3 1 
Copper derivatives1 — 1 — 
4 1 4 1 
Net amounts presented in balance sheet:
Commodity contracts:
Embedded derivatives in provisional
sales/purchase contracts61 168 24 20 
Copper derivatives12 15 — — 
$73 $183 $24 $20 
Balance sheet classification:
Trade accounts receivable$51 $168 $14 $— 
Other current assets12 15 — — 
Accounts payable and accrued liabilities10 — 10 20 
$73 $183 $24 $20