DISPOSITIONS AND ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]

The following table provides net income before income taxes and net income attributable to FCX common stockholders for Candelaria/Ojos:



	January 1, 2014,
	to		Years Ended December 31,
	November 3, 2014		2013		2012
Net income before income taxes	$	270	$	689	$	547
Net income attributable to FCX common stockholders	144		341		304

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



Current assets	$	482
Long-term assets	1,155
Current liabilities	129
Long-term liabilities	89
Noncontrolling interests	242

Schedule of Business Acquisitions by Acquisition, Equity Interest Issued or Issuable [Table Text Block]

Following is a summary of the $3.1 billion purchase price for MMR:



Number of shares of MMR common stock acquired (millions)	112.362		^a
Cash consideration of $14.75 per share	$	14.75
Cash consideration paid by FCX	$	1,657
Employee stock-based awards	63
Total	1,720
Fair value of FCX's investment in 51 million shares of MMR common stock acquired on
May 31, 2013, through the acquisition of PXP	854
Fair value of FCX's investment in MMR's 5.75% Convertible Perpetual Preferred Stock, Series 2	554
Total purchase price	$	3,128


a.	Excludes 51 million shares of MMR common stock owned by FCX through its acquisition of PXP on May 31, 2013.

Following is a summary of the $6.6 billion purchase price for PXP:



Number of shares of PXP common stock acquired (millions)	132.280
Exchange ratio of FCX common stock for each PXP share	0.6531
	86.392
Shares of FCX common stock issued for certain PXP equity awards (millions)	4.769
Total shares of FCX common stock issued (millions)	91.161

Closing share price of FCX common stock at May 31, 2013	$	31.05
FCX stock consideration	$	2,831
Cash consideration	3,725		^a
Employee stock-based awards, primarily cash-settled stock-based awards	83
Total purchase price	$	6,639


a.	Cash consideration includes the payment of $25.00 in cash for each PXP share ($3.3 billion), cash paid in lieu of any fractional shares of FCX common stock, cash paid for certain equity awards ($7 million) and the value of the $3 per share PXP special cash dividend ($411 million) paid on May 31, 2013.

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

The following table summarizes the final purchase price allocations for PXP and MMR:



	PXP			MMR			Eliminations			Total
Current assets	$	1,193		$	98		$	—		$	1,291
Oil and gas properties - full cost method:
Subject to amortization	11,447			751			—			12,198
Not subject to amortization	9,401			1,711			—			11,112
Property, plant and equipment	261			1			—			262
Investment in MMR^a	848			—			(848		)	—
Other assets	12			382			—			394
Current liabilities	(906		)	(174		)	—			(1,080		)
Debt (current and long-term)	(10,631		)	(620		)	—			(11,251		)
Deferred income taxes^b	(3,917		)	—			—			(3,917		)
Other long-term liabilities	(799		)	(262		)	—			(1,061		)
Redeemable noncontrolling interest	(708		)	(259		)	—			(967		)
Total fair value, excluding goodwill	6,201			1,628			(848		)	6,981
Goodwill	438			1,500			—			1,938
Total purchase price	$	6,639		$	3,128		$	(848	)	$	8,919


a.	PXP owned 51 million shares of MMR common stock, which were eliminated in FCX's consolidated balance sheet at the acquisition date of MMR.


b.	Deferred income taxes have been recognized based on the estimated fair value adjustments to net assets using a 38 percent tax rate, which reflected a 35 percent federal statutory rate and a 3 percent weighted-average of the applicable statutory state tax rates (net of federal benefit).

Schedule of Goodwill [Table Text Block]

A summary of changes in the carrying amount of goodwill follows:



Balance at January 1, 2013	$	—
Acquisitions of PXP and MMR	1,916
Balance at December 31, 2013	1,916
Purchase accounting adjustments	22
Disposal of Eagle Ford (see above)	(221		)
Impairment charge	(1,717		)
Balance at December 31, 2014	$	—

Business Acquisition, Pro Forma Information [Table Text Block]

The historical consolidated financial information has been adjusted to reflect factually supportable items that are directly attributable to the acquisitions.



	Years Ended December 31,
	2013		2012
Revenues	$	23,075	$	22,713
Operating income	6,267		6,815
Income from continuing operations	3,626		4,277
Net income attributable to FCX common stockholders	2,825		3,301

Net income per share attributable to FCX common stockholders:
Basic	$	2.71	$	3.17
Diluted	2.70		3.16

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

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