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GUARANTOR FINANCIAL STATEMENTS (Tables)
 12 Months Ended
Dec. 31, 2014
Guarantor Financial Statements [Abstract]  
Condensed Balance Sheet [Table Text Block]
CONDENSED CONSOLIDATING BALANCE SHEET
December 31, 2014
 
FCX
 
FM O&G LLC
 
Non-guarantor
 
 
 
Consolidated
 
Issuer
 
Guarantor
 
Subsidiaries
 
Eliminations
 
FCX
ASSETS
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
—

 
$
1

 
$
463

 
$
—

 
$
464

Accounts receivable
234

 
2,230

 
2,671

 
(2,572
)
 
2,563

Other current assets
89

 
404

 
5,525

 
—

 
6,018

Total current assets
323

 
2,635

 
8,659

 
(2,572
)
 
9,045

Property, plant, equipment and mining development costs, net
22

 
46

 
26,152

 
—

 
26,220

Oil and gas properties, net - full cost method:
 
 
 
 
 
 
 
 
 
Subject to amortization, less accumulated amortization
—

 
3,296

 
5,907

 
(16
)
 
9,187

Not subject to amortization
—

 
2,447

 
7,640

 
—

 
10,087

Investments in consolidated subsidiaries
28,765

 
6,460

 
10,246

 
(45,471
)
 
—

Other assets
9,012

 
3,947

 
4,084

 
(12,787
)
 
4,256

Total assets
$
38,122

 
$
18,831

 
$
62,688

 
$
(60,846
)
 
$
58,795

 
 
 
 
 
 
 
 
 
 
LIABILITIES AND EQUITY
 
 
 
 
 
 
 
 
 
Current liabilities
$
1,592

 
$
560

 
$
5,592

 
$
(2,572
)
 
$
5,172

Long-term debt, less current portion
15,028

 
3,874

 
8,902

 
(9,312
)
 
18,492

Deferred income taxes
3,161

a 
—

 
3,237

 
—

 
6,398

Environmental and asset retirement obligations, less current portion
—

 
302

 
3,345

 
—

 
3,647

Other liabilities
54

 
3,372

 
1,910

 
(3,475
)
 
1,861

Total liabilities
19,835

 
8,108

 
22,986

 
(15,359
)
 
35,570

 
 
 
 
 
 
 
 
 
 
Redeemable noncontrolling interest
—

 
—

 
751

 
—

 
751

 
 
 
 
 
 
 
 
 
 
Equity:
 
 
 
 
 
 
 
 
 
Stockholders' equity
18,287

 
10,723

 
35,268

 
(45,991
)
 
18,287

Noncontrolling interests
—

 
—

 
3,683

 
504

 
4,187

Total equity
18,287

 
10,723

 
38,951

 
(45,487
)
 
22,474

Total liabilities and equity
$
38,122

 
$
18,831

 
$
62,688

 
$
(60,846
)
 
$
58,795

a.
All U.S. related deferred income taxes are recorded at the parent company.
CONDENSED CONSOLIDATING BALANCE SHEET
December 31, 2013
 
FCX
 
FM O&G LLC
 
Non-guarantor
 
 
 
Consolidated
 
Issuer
 
Guarantor
 
Subsidiaries
 
Eliminations
 
FCX
ASSETS
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
—

 
$
—

 
$
1,985

 
$
—

 
$
1,985

Accounts receivable
855

 
659

 
2,258

 
(1,210
)
 
2,562

Other current assets
114

 
38

 
5,273

 
—

 
5,425

Total current assets
969

 
697

 
9,516

 
(1,210
)
 
9,972

Property, plant, equipment and mining development costs, net
27

 
43

 
23,972

 
—

 
24,042

Oil and gas properties, net - full cost method:
 
 
 
 
 
 
 
 
 
Subject to amortization, less accumulated amortization
—

 
6,207

 
6,265

 
—

 
12,472

Not subject to amortization
—

 
2,649

 
8,238

 
—

 
10,887

Investment in consolidated subsidiaries
31,162

 
9,712

 
12,468

 
(53,342
)
 
—

Goodwill
—

 
437

 
1,479

 
—

 
1,916

Other assets
7,126

 
4,640

 
4,128

 
(11,710
)
 
4,184

Total assets
$
39,284

 
$
24,385

 
$
66,066

 
$
(66,262
)
 
$
63,473

 
 
 
 
 
 
 
 
 
 
LIABILITIES AND EQUITY
 
 
 
 
 
 
 
 
 
Current liabilities
$
1,003

 
$
758

 
$
4,222

 
$
(1,210
)
 
$
4,773

Long-term debt, less current portion
13,184

 
7,199

 
8,056

 
(8,045
)
 
20,394

Deferred income taxes
4,137

a 
—

 
3,273

 
—

 
7,410

Environmental and asset retirement obligations, less current portion
—

 
301

 
2,958

 
—

 
3,259

Other liabilities
26

 
3,436

 
1,893

 
(3,665
)
 
1,690

Total liabilities
18,350

 
11,694

 
20,402

 
(12,920
)
 
37,526

 
 
 
 
 
 
 
 
 
 
Redeemable noncontrolling interest
—

 
—

 
716

 
—

 
716

 
 
 
 
 
 
 
 
 
 
Equity:
 
 
 
 
 
 
 
 
 
Stockholders' equity
20,934

 
12,691

 
41,100

 
(53,791
)
 
20,934

Noncontrolling interests
—

 
—

 
3,848

 
449

 
4,297

Total equity
20,934

 
12,691

 
44,948

 
(53,342
)
 
25,231

Total liabilities and equity
$
39,284

 
$
24,385

 
$
66,066

 
$
(66,262
)
 
$
63,473

a.
All U.S. related deferred income taxes are recorded at the parent company.
Condensed Income Statement [Table Text Block]
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE (LOSS) INCOME

Year Ended December 31, 2014
 
 
 
 
 
 
 
 
 
 
FCX
 
FM O&G LLC
 
Non-guarantor
 
 
 
Consolidated
 
Issuer
 
Guarantor
 
Subsidiaries
 
Eliminations
 
FCX
Revenues
$
—

 
$
2,356

 
$
19,082

 
$
—

 
21,438

Total costs and expenses
59

 
3,498

a 
17,762

a 
22

 
21,341

Operating (loss) income
(59
)
 
(1,142
)
 
1,320

 
(22
)
 
97

Interest expense, net
(382
)
 
(139
)
 
(189
)
 
80

 
(630
)
Net (loss) gain on early extinguishment of debt
(5
)
 
78

 
—

 
—

 
73

Other income (expense), net
72

 
3

 
41

 
(80
)
 
36

(Loss) income before income taxes and equity in affiliated companies' net (losses) earnings
(374
)
 
(1,200
)
 
1,172

 
(22
)
 
(424
)
Benefit from (provision for) income taxes
73

 
281

 
(686
)
 
8

 
(324
)
Equity in affiliated companies' net (losses) earnings
(1,007
)
 
(3,429
)
 
(4,633
)
 
9,072

 
3

Net (loss) income
(1,308
)
 
(4,348
)
 
(4,147
)
 
9,058

 
(745
)
Net income and preferred dividends attributable to noncontrolling interests
—

 
—

 
(519
)
 
(44
)
 
(563
)
Net (loss) income attributable to FCX common stockholders
$
(1,308
)
 
$
(4,348
)
 
$
(4,666
)
 
$
9,014

 
$
(1,308
)
 
 
 
 
 
 
 
 
 
 
Other comprehensive loss
—

 
—

 
(139
)
 
—

 
(139
)
Total comprehensive (loss) income
$
(1,308
)
 
$
(4,348
)
 
$
(4,805
)
 
$
9,014

 
$
(1,447
)
a.
Includes impairment charges totaling $1.9 billion at the FM O&G LLC Guarantor and $3.5 billion at the non-guarantor subsidiaries related to ceiling test impairment charges for FCX's oil and gas properties pursuant to full cost accounting rules and a goodwill impairment charge.

Year Ended December 31, 2013
 
 
 
 
 
 
 
 
 
 
FCX
 
FM O&G LLC
 
Non-guarantor
 
 
 
Consolidated
 
Issuer
 
Guarantor
 
Subsidiaries
 
Eliminations
 
FCX
Revenues
$
—

 
$
1,177

 
$
19,744

 
$
—

 
$
20,921

Total costs and expenses
134

 
1,065

 
14,371

 
—

 
15,570

Operating (loss) income
(134
)
 
112

 
5,373

 
—

 
5,351

Interest expense, net
(319
)
 
(129
)
 
(129
)
 
59

 
(518
)
Net (loss) gain on early extinguishment of debt
(45
)
 
—

 
10

 
—

 
(35
)
Gain on investment in MMR
128

 
—

 
—

 
—

 
128

Other income (expense), net
61

 
—

 
(15
)
 
(59
)
 
(13
)
(Loss) income before income taxes and equity in affiliated companies' net earnings (losses)
(309
)
 
(17
)
 
5,239

 
—

 
4,913

Benefit from (provision for) income taxes
81

 
17

 
(1,573
)
 
—

 
(1,475
)
Equity in affiliated companies' net earnings (losses)
2,886

 
281

 
268

 
(3,432
)
 
3

Net income (loss)
2,658

 
281

 
3,934

 
(3,432
)
 
3,441

Net income and preferred dividends attributable to noncontrolling interests
—

 
—

 
(706
)
 
(77
)
 
(783
)
Net income (loss) attributable to FCX common stockholders
$
2,658

 
$
281

 
$
3,228

 
$
(3,509
)
 
$
2,658

 
 
 
 
 
 
 
 
 
 
Other comprehensive income
—

 
—

 
101

 
—

 
101

Total comprehensive income (loss)
$
2,658

 
$
281

 
$
3,329

 
$
(3,509
)
 
$
2,759
Condensed Cash Flow Statement [Table Text Block]
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
Year Ended December 31, 2014

 
FCX
 
FM O&G LLC
 
Non-guarantor
 
 
 
Consolidated
 
Issuer
 
Guarantor
 
Subsidiaries
 
Eliminations
 
FCX
Cash flow from operating activities:
 
 
 
 
 
 
 
 
 
Net (loss) income
$
(1,308
)
 
$
(4,348
)
 
$
(4,147
)
 
$
9,058

 
$
(745
)
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
 
 
 
 
 
 
 
 
 
Depreciation, depletion and amortization
4

 
806

 
3,077

 
(24
)
 
3,863

Impairment of oil and gas properties and goodwill
—

 
1,922

 
3,486

 
46

 
5,454

Net gains on crude oil and natural gas derivative contracts
—

 
(504
)
 
—

 
—

 
(504
)
Equity in (earnings) losses of consolidated subsidiaries
1,007

 
3,429

 
4,633

 
(9,072
)
 
(3
)
Other, net
(882
)
 
(113
)
 
(807
)
 
—

 
(1,802
)
Decreases (increases) in working capital and changes in other tax payments, excluding amounts from dispositions
723

 
(1,750
)
 
395

 
—

 
(632
)
Net cash (used in) provided by operating activities
(456
)
 
(558
)
 
6,637

 
8

 
5,631

 
 
 
 
 
 
 
 
 
 
Cash flow from investing activities:
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
(2,143
)
 
(5,072
)
 
—

 
(7,215
)
Acquisition of Deepwater GOM interests
—

 
—

 
(1,426
)
 
—

 
(1,426
)
Intercompany loans
(1,328
)
 
704

 
—

 
624

 
—

Dividend from (investment in) consolidated subsidiary
1,221

 
(130
)
 
(2,408
)
 
1,317

 
—

Net proceeds from sale of Candelaria and Ojos del Salado
—

 
—

 
1,709

 
—

 
1,709

Net proceeds from sale of Eagle Ford shale assets
—

 
2,910

 
—

 
—

 
2,910

Other, net
—

 
41

 
180

 
—

 
221

Net cash (used in) provided by investing activities
(107
)
 
1,382

 
(7,017
)
 
1,941

 
(3,801
)
 
 
 
 
 
 
 
 
 
 
Cash flow from financing activities:
 
 
 
 
 
 
 
 
 
Proceeds from debt
7,464

 
—

 
1,246

 
—

 
8,710

Repayments of debt
(5,575
)
 
(3,994
)
 
(737
)
 
—

 
(10,306
)
Intercompany loans
—

 
810

 
(186
)
 
(624
)
 
—

Cash dividends and distributions paid, and contributions received
(1,305
)
 
2,364

 
(1,463
)
 
(1,325
)
 
(1,729
)
Other, net
(21
)
 
(3
)
 
(2
)
 
—

 
(26
)
Net cash provided by (used in) financing activities
563

 
(823
)
 
(1,142
)
 
(1,949
)
 
(3,351
)
 
 
 
 
 
 
 
 
 
 
Net increase (decrease) in cash and cash equivalents
—

 
1

 
(1,522
)
 
—

 
(1,521
)
Cash and cash equivalents at beginning of year
—

 
—

 
1,985

 
—

 
1,985

Cash and cash equivalents at end of year
$
—

 
$
1

 
$
463

 
$
—

 
$
464






CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
Year Ended December 31, 2013
 
FCX
 
FM O&G LLC
 
Non-guarantor
 
 
 
Consolidated
 
Issuer
 
Guarantor
 
Subsidiaries
 
Eliminations
 
FCX
Cash flow from operating activities:
 
 
 
 
 
 
 
 
 
Net income (loss)
$
2,658

 
$
281

 
$
3,934

 
$
(3,432
)
 
$
3,441

Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
 
 
 
 
 
 
 
 
 
Depreciation, depletion and amortization
4

 
616

 
2,177

 
—

 
2,797

Net losses on crude oil and natural gas derivative contracts
—

 
334

 
—

 
—

 
334

Gain on investment in MMR
(128
)
 
—

 
—

 
—

 
(128
)
Equity in (earnings) losses of consolidated subsidiaries
(2,886
)
 
(281
)
 
(265
)
 
3,432

 
—

Other, net
8

 
(14
)
 
78

 
—

 
72

Decreases (increases) in working capital and changes in other tax payments, excluding amounts from acquisitions and dispositions
272

 
735

 
(1,384
)
 
—

 
(377
)
Net cash (used in) provided by operating activities
(72
)
 
1,671

 
4,540

 
—

 
6,139

 
 
 
 
 
 
 
 
 
 
Cash flow from investing activities:
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
(894
)
 
(4,392
)
 
—

 
(5,286
)
Acquisitions, net of cash acquired
(5,437
)
 
—

 
(4
)
 
—

 
(5,441
)
Intercompany loans
834

 
—

 
(162
)
 
(672
)
 
—

Dividend from (investment in) consolidated subsidiary
629

 
—

 
—

 
(629
)
 
—

Other, net
15

 
30

 
(226
)
 
—

 
(181
)
Net cash used in investing activities
(3,959
)
 
(864
)
 
(4,784
)
 
(1,301
)
 
(10,908
)
 
 
 
 
 
 
 
 
 
 
Cash flow from financing activities:
 
 
 
 
 
 
 
 
 
Proceeds from debt
11,260

 
—

 
241

 
—

 
11,501

Repayments of debt and redemption of MMR preferred stock
(4,737
)
 
(416
)
 
(551
)
 
—

 
(5,704
)
Intercompany loans
—

 
(391
)
 
(281
)
 
672

 
—

Cash dividends and distributions paid
(2,281
)
 
—

 
(885
)
 
629

 
(2,537
)
Other, net
(211
)
 
—

 
—

 
—

 
(211
)
Net cash provided by (used in) financing activities
4,031

 
(807
)
 
(1,476
)
 
1,301

 
3,049

 
 
 
 
 
 
 
 
 
 
Net decrease in cash and cash equivalents
—

 
—

 
(1,720
)
 
—

 
(1,720
)
Cash and cash equivalents at beginning of year
—

 
—

 
3,705

 
—

 
3,705

Cash and cash equivalents at end of year
$
—

 
$
—

 
$
1,985

 
$
—

 
$
1,985