XML 38 R32.htm IDEA: XBRL DOCUMENT v2.4.1.9
Financial Instruments (Unaudited) (Details) (Commodity Contract [Member], USD $)
In Millions, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Fair Value Hedging [Member] | Sales [Member]
   
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative financial instruments $ 6us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1
/ us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis
= us-gaap_FairValueHedgingMember
/ us-gaap_FinancialInstrumentAxis
= us-gaap_CommodityContractMember
/ us-gaap_IncomeStatementLocationAxis
= us-gaap_SalesMember
$ (12)us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1
/ us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis
= us-gaap_FairValueHedgingMember
/ us-gaap_FinancialInstrumentAxis
= us-gaap_CommodityContractMember
/ us-gaap_IncomeStatementLocationAxis
= us-gaap_SalesMember
Hedged item – firm sales commitments (6)us-gaap_ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge1
/ us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis
= us-gaap_FairValueHedgingMember
/ us-gaap_FinancialInstrumentAxis
= us-gaap_CommodityContractMember
/ us-gaap_IncomeStatementLocationAxis
= us-gaap_SalesMember
12us-gaap_ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge1
/ us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis
= us-gaap_FairValueHedgingMember
/ us-gaap_FinancialInstrumentAxis
= us-gaap_CommodityContractMember
/ us-gaap_IncomeStatementLocationAxis
= us-gaap_SalesMember
Matured derivative financial instruments (10)us-gaap_DerivativeGainLossOnDerivativeNet
/ us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis
= us-gaap_FairValueHedgingMember
/ us-gaap_FinancialInstrumentAxis
= us-gaap_CommodityContractMember
/ us-gaap_IncomeStatementLocationAxis
= us-gaap_SalesMember
2us-gaap_DerivativeGainLossOnDerivativeNet
/ us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis
= us-gaap_FairValueHedgingMember
/ us-gaap_FinancialInstrumentAxis
= us-gaap_CommodityContractMember
/ us-gaap_IncomeStatementLocationAxis
= us-gaap_SalesMember
Derivatives not designated as hedging instruments [Member] | Embedded derivatives in provisional sales contracts [Member] | Sales [Member]    
Derivative Instruments, Gain (Loss) [Line Items]    
Realized and unrealized gains (losses) (72)us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
/ us-gaap_DerivativeInstrumentRiskAxis
= fcx_EmbeddedDerivativesInProvisionalSalesContractsMember
/ us-gaap_FinancialInstrumentAxis
= us-gaap_CommodityContractMember
/ us-gaap_HedgingDesignationAxis
= us-gaap_NondesignatedMember
/ us-gaap_IncomeStatementLocationAxis
= us-gaap_SalesMember
[1] (169)us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
/ us-gaap_DerivativeInstrumentRiskAxis
= fcx_EmbeddedDerivativesInProvisionalSalesContractsMember
/ us-gaap_FinancialInstrumentAxis
= us-gaap_CommodityContractMember
/ us-gaap_HedgingDesignationAxis
= us-gaap_NondesignatedMember
/ us-gaap_IncomeStatementLocationAxis
= us-gaap_SalesMember
[1]
Derivatives not designated as hedging instruments [Member] | Copper forward contracts [Member] | Amounts recorded in Cost of Sales [Member]    
Derivative Instruments, Gain (Loss) [Line Items]    
Realized and unrealized gains (losses) (1)us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_ForwardContractsMember
/ us-gaap_FinancialInstrumentAxis
= us-gaap_CommodityContractMember
/ us-gaap_HedgingDesignationAxis
= us-gaap_NondesignatedMember
/ us-gaap_IncomeStatementLocationAxis
= us-gaap_CostOfSalesMember
[2] 1us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_ForwardContractsMember
/ us-gaap_FinancialInstrumentAxis
= us-gaap_CommodityContractMember
/ us-gaap_HedgingDesignationAxis
= us-gaap_NondesignatedMember
/ us-gaap_IncomeStatementLocationAxis
= us-gaap_CostOfSalesMember
[2]
Derivatives not designated as hedging instruments [Member] | Plains Exploration & Production Company [Member] | Crude Oil Options [Member] | Sales [Member]    
Derivative Instruments, Gain (Loss) [Line Items]    
Realized and unrealized gains (losses) 52us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
/ us-gaap_DerivativeInstrumentRiskAxis
= fcx_CrudeOilOptionsMember
/ us-gaap_FinancialInstrumentAxis
= us-gaap_CommodityContractMember
/ us-gaap_HedgingDesignationAxis
= us-gaap_NondesignatedMember
/ us-gaap_IncomeStatementLocationAxis
= us-gaap_SalesMember
/ dei_LegalEntityAxis
= fcx_PlainsExplorationProductionCompanyMember
[1] (36)us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
/ us-gaap_DerivativeInstrumentRiskAxis
= fcx_CrudeOilOptionsMember
/ us-gaap_FinancialInstrumentAxis
= us-gaap_CommodityContractMember
/ us-gaap_HedgingDesignationAxis
= us-gaap_NondesignatedMember
/ us-gaap_IncomeStatementLocationAxis
= us-gaap_SalesMember
/ dei_LegalEntityAxis
= fcx_PlainsExplorationProductionCompanyMember
[1]
Derivatives not designated as hedging instruments [Member] | Plains Exploration & Production Company [Member] | Natural gas swaps [Member] | Sales [Member]    
Derivative Instruments, Gain (Loss) [Line Items]    
Realized and unrealized gains (losses) $ 0us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
/ us-gaap_DerivativeInstrumentRiskAxis
= fcx_NaturalGasSwapsMember
/ us-gaap_FinancialInstrumentAxis
= us-gaap_CommodityContractMember
/ us-gaap_HedgingDesignationAxis
= us-gaap_NondesignatedMember
/ us-gaap_IncomeStatementLocationAxis
= us-gaap_SalesMember
/ dei_LegalEntityAxis
= fcx_PlainsExplorationProductionCompanyMember
[1] $ (14)us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
/ us-gaap_DerivativeInstrumentRiskAxis
= fcx_NaturalGasSwapsMember
/ us-gaap_FinancialInstrumentAxis
= us-gaap_CommodityContractMember
/ us-gaap_HedgingDesignationAxis
= us-gaap_NondesignatedMember
/ us-gaap_IncomeStatementLocationAxis
= us-gaap_SalesMember
/ dei_LegalEntityAxis
= fcx_PlainsExplorationProductionCompanyMember
[1]
[1] Amounts recorded in revenues.
[2] Amounts recorded in cost of sales as production and delivery costs.