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Guarantor Financial Statements (Unaudited) (Tables)
 3 Months Ended
Mar. 31, 2015
Guarantor Financial Statements [Abstract]  
Condensed Consolidating Balance Sheets [Table Text Block]
CONDENSED CONSOLIDATING BALANCE SHEET
March 31, 2015
 
FCX
 
FM O&G LLC
 
Non-guarantor
 
 
 
Consolidated
 
Issuer
 
Guarantor
 
Subsidiaries
 
Eliminations
 
FCX
ASSETS
 
 
 
 
 
 
 
 
 
Current assets
$
288

 
$
3,623

 
$
8,257

 
$
(3,314
)
 
$
8,854

Property, plant, equipment and mining development costs, net
21

 
48

 
26,526

 
—

 
26,595

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

 
2,309

 
4,404

 
—

 
6,713

Not subject to amortization
—

 
2,553

 
7,112

 
—

 
9,665

Investments in consolidated subsidiaries
25,828

 
4,117

 
7,005

 
(36,950
)
 
—

Other assets
9,814

 
4,276

 
4,160

 
(14,012
)
 
4,238

Total assets
$
35,951

 
$
16,926

 
$
57,464

 
$
(54,276
)
 
$
56,065

 
 
 
 
 
 
 
 
 
 
LIABILITIES AND EQUITY
 
 
 
 
 
 
 
 
 
Current liabilities
$
1,819

 
$
400

 
$
5,505

 
$
(3,314
)
 
$
4,410

Long-term debt, less current portion
15,900

 
4,771

 
9,625

 
(10,542
)
 
19,754

Deferred income taxes
2,390

a 
—

 
3,235

 
—

 
5,625

Environmental and asset retirement obligations, less current portion
—

 
303

 
3,375

 
—

 
3,678

Other liabilities
49

 
3,359

 
1,874

 
(3,470
)
 
1,812

Total liabilities
20,158

 
8,833

 
23,614

 
(17,326
)
 
35,279

 
 
 
 
 
 
 
 
 
 
Redeemable noncontrolling interest
—

 
—

 
755

 
—

 
755

 
 
 
 
 
 
 
 
 
 
Equity:
 
 
 
 
 
 
 
 
 
Stockholders' equity
15,793

 
8,093

 
29,376

 
(37,469
)
 
15,793

Noncontrolling interests
—

 
—

 
3,719

 
519

 
4,238

Total equity
15,793

 
8,093

 
33,095

 
(36,950
)
 
20,031

Total liabilities and equity
$
35,951

 
$
16,926

 
$
57,464

 
$
(54,276
)
 
$
56,065

a.
All U.S. related deferred income taxes are recorded at the parent company.
CONDENSED CONSOLIDATING BALANCE SHEET
December 31, 2014
 
FCX
 
FM O&G LLC
 
Non-guarantor
 
 
 
Consolidated
 
Issuer
 
Guarantor
 
Subsidiaries
 
Eliminations
 
FCX
ASSETS
 
 
 
 
 
 
 
 
 
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
8,914

 
3,947

 
4,061

 
(12,787
)
 
4,135

Total assets
$
38,024

 
$
18,831

 
$
62,665

 
$
(60,846
)
 
$
58,674

 
 
 
 
 
 
 
 
 
 
LIABILITIES AND EQUITY
 
 
 
 
 
 
 
 
 
Current liabilities
$
1,592

 
$
560

 
$
5,592

 
$
(2,572
)
 
$
5,172

Long-term debt, less current portion
14,930

 
3,874

 
8,879

 
(9,312
)
 
18,371

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
19,737

 
8,108

 
22,963

 
(15,359
)
 
35,449

 
 
 
 
 
 
 
 
 
 
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
$
38,024

 
$
18,831

 
$
62,665

 
$
(60,846
)
 
$
58,674

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 March 31, 2015
 
 
 
 
 
 
 
 
 
 
FCX
 
FM O&G LLC
 
Non-guarantor
 
 
 
Consolidated
 
Issuer
 
Guarantor
 
Subsidiaries
 
Eliminations
 
FCX
Revenues
$
—

 
$
181

 
$
3,972

 
$
—

 
$
4,153

Total costs and expenses
16

 
1,318

a 
5,798

a 
(16
)
 
7,116

Operating (loss) income
(16
)
 
(1,137
)
 
(1,826
)
 
16

 
(2,963
)
Interest expense, net
(115
)
 
(4
)
 
(57
)
 
30

 
(146
)
Other income (expense), net
29

 
—

 
8

 
(30
)
 
7

(Loss) income before income taxes and equity in affiliated companies' net (losses) earnings
(102
)
 
(1,141
)
 
(1,875
)
 
16

 
(3,102
)
(Provision for) benefit from income taxes
(421
)
 
1,157

 
(35
)
 
(6
)
 
695

Equity in affiliated companies' net (losses) earnings
(1,951
)
 
(2,359
)
 
(3,530
)
 
7,841

 
1

Net (loss) income
(2,474
)
 
(2,343
)
 
(5,440
)
 
7,851

 
(2,406
)
Net income and preferred dividends attributable to noncontrolling interests
—

 
—

 
(56
)
 
(12
)
 
(68
)
Net (loss) income attributable to common stockholders
$
(2,474
)
 
$
(2,343
)
 
$
(5,496
)
 
$
7,839

 
$
(2,474
)
 
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss)
12

 
—

 
12

 
(12
)
 
12

Total comprehensive (loss) income
$
(2,462
)
 
$
(2,343
)
 
$
(5,484
)
 
$
7,827

 
$
(2,462
)
a.
Includes impairment charges totaling $1.1 billion at the FM O&G LLC guarantor and $2.0 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.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

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

 
$
644

 
$
4,341

 
$
—

 
$
4,985

Total costs and expenses
11

 
526

 
3,339

 
(2
)
 
3,874

Operating (loss) income
(11
)
 
118

 
1,002

 
2

 
1,111

Interest expense, net
(82
)
 
(41
)
 
(58
)
 
20

 
(161
)
Other income (expense), net
20

 
—

 
33

 
(20
)
 
33

(Loss) income before income taxes and equity in affiliated companies' net earnings (losses)
(73
)
 
77

 
977

 
2

 
983

Provision for income taxes
(21
)
 
(43
)
 
(292
)
 
(1
)
 
(357
)
Equity in affiliated companies' net earnings (losses)
604

 
130

 
185

 
(919
)
 
—

Net income (loss)
510

 
164

 
870

 
(918
)
 
626

Net income and preferred dividends attributable to noncontrolling interests
—

 
—

 
(111
)
 
(5
)
 
(116
)
Net income (loss) attributable to common stockholders
$
510

 
$
164

 
$
759

 
$
(923
)
 
$
510

 
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss)
3

 
—

 
3

 
(3
)
 
3

Total comprehensive income (loss)
$
513

 
$
164

 
$
762

 
$
(926
)
 
$
513


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Condensed Consolidating Statements of Cash Flows [Table Text Block]
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
Three Months Ended March 31, 2015
 
FCX
 
FM O&G LLC
 
Non-guarantor
 
 
 
Consolidated
 
Issuer
 
Guarantor
 
Subsidiaries
 
Eliminations
 
FCX
Cash flow from operating activities:
 
 
 
 
 
 
 
 
 
Net (loss) income
$
(2,474
)
 
$
(2,343
)
 
$
(5,440
)
 
$
7,851

 
$
(2,406
)
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
 
 
 
 
 
 
 
 
 
Depreciation, depletion and amortization
1

 
119

 
835

 
(16
)
 
939

Impairment of oil and gas properties
—

 
1,062

 
2,042

 
—

 
3,104

Net gains on crude oil derivative contracts
—

 
(52
)
 
—

 
—

 
(52
)
Equity in losses (earnings) of consolidated subsidiaries
1,951

 
2,359

 
3,530

 
(7,841
)
 
(1
)
Other, net
(701
)
 
6

 
(86
)
 
—

 
(781
)
Decreases (increases) in working capital and changes in other tax payments
1,171

 
(1,321
)
 
58

 
6

 
(86
)
Net cash (used in) provided by operating activities
(52
)
 
(170
)
 
939

 
—

 
717

 
 
 
 
 
 
 
 
 
 
Cash flow from investing activities:
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
(302
)
 
(1,565
)
 
—

 
(1,867
)
Intercompany loans
(905
)
 
(400
)
 
—

 
1,305

 
—

Dividends from (investments in) consolidated subsidiaries
310

 
(14
)
 
32

 
(328
)
 
—

Other, net
—

 
—

 
127

 
—

 
127

Net cash (used in) provided by investing activities
(595
)
 
(716
)
 
(1,406
)
 
977

 
(1,740
)
 
 
 
 
 
 
 
 
 
 
Cash flow from financing activities:
 
 
 
 
 
 
 
 
 
Proceeds from debt
1,515

 
—

 
758

 
—

 
2,273

Repayments of debt
(530
)
 
—

 
(272
)
 
—

 
(802
)
Intercompany loans
—

 
903

 
402

 
(1,305
)
 
—

Cash dividends and distributions paid, and contributions received
(327
)
 
—

 
(319
)
 
296

 
(350
)
Other, net
(11
)
 
(18
)
 
(16
)
 
32

 
(13
)
Net cash provided by (used in) financing activities
647

 
885

 
553

 
(977
)
 
1,108

 
 
 
 
 
 
 
 
 
 
Net (decrease) increase in cash and cash equivalents
—

 
(1
)
 
86

 
—

 
85

Cash and cash equivalents at beginning of period
—

 
1

 
463

 
—

 
464

Cash and cash equivalents at end of period
$
—

 
$
—

 
$
549

 
$
—

 
$
549


CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
Three Months Ended March 31, 2014
 
FCX
 
FM O&G LLC
 
Non-guarantor
 
 
 
Consolidated
 
Issuer
 
Guarantor
 
Subsidiaries
 
Eliminations
 
FCX
Cash flow from operating activities:
 
 
 
 
 
 
 
 
 
Net income (loss)
$
510

 
$
164

 
$
870

 
$
(918
)
 
$
626

Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
 
 
 
 
 
 
 
 
 
Depreciation, depletion and amortization
1

 
285

 
682

 
(2
)
 
966

Net losses on crude oil and natural gas derivative contracts
—

 
50

 
—

 
—

 
50

Equity in (earnings) losses of consolidated subsidiaries
(604
)
 
(130
)
 
(185
)
 
919

 
—

Other, net
134

 
(9
)
 
(140
)
 
(13
)
 
(28
)
(Increases) decreases in working capital and changes in other tax payments
(234
)
 
339

 
(518
)
 
—

 
(413
)
Net cash (used in) provided by operating activities
(193
)
 
699

 
709

 
(14
)
 
1,201

 
 
 
 
 
 
 
 
 
 
Cash flow from investing activities:
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
(335
)
 
(1,277
)
 
—

 
(1,612
)
Intercompany loans
190

 
(43
)
 
—

—

(147
)
 
—

Dividends from (investments in) consolidated subsidiaries
212

 
(96
)
 
(430
)
 
314

 
—

Other, net
—

 
4

 
3

 
—

 
7

Net cash provided by (used in) investing activities
402

 
(470
)
 
(1,704
)
 
167

 
(1,605
)
 
 
 
 
 
 
 
 
 
 
Cash flow from financing activities:
 
 
 
 
 
 
 
 
 
Proceeds from debt
895

 
—

 
254

 
—

 
1,149

Repayments of debt
(780
)
 
—

 
(207
)
 
—

 
(987
)
Intercompany loans
—

 
(213
)
 
66

 
147

 
—

Cash dividends and distributions paid, and contributions received
(326
)
 
(14
)
 
237

 
(300
)
 
(403
)
Other, net
2

 
—

 
—

 
—

 
2

Net cash (used in) provided by financing activities
(209
)
 
(227
)
 
350

 
(153
)
 
(239
)
 
 
 
 
 
 
 
 
 
 
Net increase (decrease) in cash and cash equivalents
—

 
2

 
(645
)
 
—

 
(643
)
Cash and cash equivalents at beginning of period
—

 
—

 
1,985

 
—

 
1,985

Cash and cash equivalents at end of period
$
—

 
$
2

 
$
1,340

 
$
—

 
$
1,342