Debt and Equity Transactions (Unaudited)	9 Months Ended
Sep. 30, 2015
Debt and Equity Transactions [Abstract]
Debt and Equity Transactions	DEBT AND EQUITY TRANSACTIONS Debt Transactions. At September 30, 2015, FCX had $20.7 billion in debt, which included additions for unamortized fair value adjustments of $218 million (primarily from the oil and gas acquisitions in 2013), and is net of reductions attributable to unamortized net discounts of $20 million and unamortized debt issuance costs of $111 million. Refer to Note 12 for discussion of a change in the presentation of debt issuance costs. In February 2015, FCX's unsecured revolving credit facility and $4.0 billion bank term loan (Term Loan) were modified to amend the maximum total leverage ratio. In addition, the Term Loan amortization schedule was extended such that, as amended, the Term Loan’s scheduled payments total $205 million in 2016, $272 million in 2017, $1.0 billion in 2018, $313 million in 2019 and $1.3 billion in 2020, compared with the previous amortization schedule of $650 million in 2016, $200 million in 2017 and $2.2 billion in 2018. At September 30, 2015, $458 million was outstanding and $42 million of letters of credit were issued under FCX's revolving credit facility, resulting in availability of approximately $3.5 billion, of which approximately $1.5 billion could be used for additional letters of credit. At September 30, 2015, $1.5 billion was outstanding and no letters of credit were issued under Sociedad Minera Cerro Verde S.A.A.'s (Cerro Verde, FCX's mining subsidiary in Peru) credit facility, resulting in availability of $301 million. Cerro Verde's five-year, $1.8 billion senior unsecured credit facility is nonrecourse to FCX and the other shareholders of Cerro Verde. In December 2014, Cerro Verde entered into a loan agreement with its shareholders for borrowings up to $800 million. Cerro Verde can designate all or a portion of the shareholder loans as subordinated. If the loans are not designated as subordinated, they bear interest at the London Interbank Offered Rate plus the current spread on Cerro Verde’s senior unsecured committed credit facility. If they are designated as subordinated, they bear interest at the same rate plus 0.5 percent. The loans mature on December 22, 2019, unless at that time there is senior financing associated with the Cerro Verde expansion project that is senior to the shareholder loans, in which case the shareholder loans mature two years following the maturity of the senior financing. During third-quarter 2015, Cerro Verde borrowed $100 million under these shareholder loans (which included $57 million from Freeport Minerals Corporation, a wholly owned subsidiary of FCX), and this amount remained outstanding as of September 30, 2015. In July 2014, FCX redeemed $1.7 billion of the aggregate principal amount of FCX Oil & Gas Inc.'s (FM O&G, FCX's oil and gas subsidiary) outstanding senior notes, which included $263 million for the 6.125% Senior Notes due 2019, $525 million for the 6½% Senior Notes due 2020, $350 million for the 6.75% Senior Notes due 2022 and $525 million for the 6⅞% Senior Notes due 2023. At the redemption date, these senior notes had an aggregate book value of $1.8 billion, which included purchase accounting fair value adjustments of $167 million. Holders of these senior notes received the principal amount together with the redemption premium and accrued and unpaid interest to the redemption date. As a result of these redemptions, FCX recorded a gain on early extinguishment of debt of $58 million in third-quarter 2014. In April 2014, FCX redeemed $210 million of the aggregate principal amount of FM O&G's outstanding 6.625% Senior Notes due 2021. Holders of these senior notes received the principal amount together with the redemption premium and accrued and unpaid interest to the redemption date. As a result of the redemption, FCX recorded a gain on early extinguishment of debt of $6 million in second-quarter 2014. In accordance with the terms of the senior notes, the April 2014 and July 2014 redemptions were funded with cash contributions to FM O&G by FCX in exchange for additional equity, which is eliminated in the consolidated financial statements. Consolidated interest expense (excluding capitalized interest) totaled $217 million in third-quarter 2015, $212 million in third-quarter 2014, $642 million for the first nine months of 2015 and $661 million for the first nine months of 2014. Capitalized interest added to property, plant, equipment and mining development costs, net, totaled $42 million in third-quarter 2015, $34 million in third-quarter 2014, $134 million for the first nine months of 2015 and $113 million for the first nine months of 2014. Capitalized interest added to oil and gas properties not subject to amortization totaled $12 million in third-quarter 2015, $20 million in third-quarter 2014, $50 million for the first nine months of 2015 and $65 million for the first nine months of 2014. Equity Transactions. In September 2015, FCX completed a $1.0 billion at-the-market equity program and announced an additional $1.0 billion at-the-market equity program. Through September 30, 2015, FCX sold 97.5 million shares of its common stock at an average price of $10.35 per share under these programs, which generated gross proceeds of $1.01 billion (net proceeds of $1.00 billion after commissions of $10 million and expenses). From October 1, 2015, through November 5, 2015, FCX sold 34.1 million shares of its common stock at an average price of $12.15 per share, which generated gross proceeds of $414 million (net proceeds of $410 million after commissions of $4 million and expenses). FCX used the net proceeds for general corporate purposes, including the repayment of amounts outstanding under its revolving credit facility and other borrowings, and the financing of working capital and capital expenditures. At October 30, 2015, FCX had 1.2 billion shares of common stock outstanding. On September 30, 2015, FCX's Board of Directors (the Board) declared a dividend of $0.05 per share, which was paid on November 2, 2015, to common shareholders of record at the close of business on October 15, 2015.

DEBT AND EQUITY TRANSACTIONS

Debt Transactions. At September 30, 2015, FCX had $20.7 billion in debt, which included additions for unamortized fair value adjustments of $218 million (primarily from the oil and gas acquisitions in 2013), and is net of reductions attributable to unamortized net discounts of $20 million and unamortized debt issuance costs of $111 million. Refer to Note 12 for discussion of a change in the presentation of debt issuance costs.

In February 2015, FCX's unsecured revolving credit facility and $4.0 billion bank term loan (Term Loan) were modified to amend the maximum total leverage ratio. In addition, the Term Loan amortization schedule was extended such that, as amended, the Term Loan’s scheduled payments total $205 million in 2016, $272 million in 2017, $1.0 billion in 2018, $313 million in 2019 and $1.3 billion in 2020, compared with the previous amortization schedule of $650 million in 2016, $200 million in 2017 and $2.2 billion in 2018.

At September 30, 2015, $458 million was outstanding and $42 million of letters of credit were issued under FCX's revolving credit facility, resulting in availability of approximately $3.5 billion, of which approximately $1.5 billion could be used for additional letters of credit.

At September 30, 2015, $1.5 billion was outstanding and no letters of credit were issued under Sociedad Minera Cerro Verde S.A.A.'s (Cerro Verde, FCX's mining subsidiary in Peru) credit facility, resulting in availability of $301 million. Cerro Verde's five-year, $1.8 billion senior unsecured credit facility is nonrecourse to FCX and the other shareholders of Cerro Verde.

In December 2014, Cerro Verde entered into a loan agreement with its shareholders for borrowings up to $800 million. Cerro Verde can designate all or a portion of the shareholder loans as subordinated. If the loans are not designated as subordinated, they bear interest at the London Interbank Offered Rate plus the current spread on Cerro Verde’s senior unsecured committed credit facility. If they are designated as subordinated, they bear interest at the same rate plus 0.5 percent. The loans mature on December 22, 2019, unless at that time there is senior financing associated with the Cerro Verde expansion project that is senior to the shareholder loans, in which case the shareholder loans mature two years following the maturity of the senior financing. During third-quarter 2015, Cerro Verde borrowed $100 million under these shareholder loans (which included $57 million from Freeport Minerals Corporation, a wholly owned subsidiary of FCX), and this amount remained outstanding as of September 30, 2015.

In July 2014, FCX redeemed $1.7 billion of the aggregate principal amount of FCX Oil & Gas Inc.'s (FM O&G, FCX's oil and gas subsidiary) outstanding senior notes, which included $263 million for the 6.125% Senior Notes due 2019, $525 million for the 6½% Senior Notes due 2020, $350 million for the 6.75% Senior Notes due 2022 and $525 million for the 6⅞% Senior Notes due 2023. At the redemption date, these senior notes had an aggregate book value of $1.8 billion, which included purchase accounting fair value adjustments of $167 million. Holders of these senior notes received the principal amount together with the redemption premium and accrued and unpaid interest to the redemption date. As a result of these redemptions, FCX recorded a gain on early extinguishment of debt of $58 million in third-quarter 2014.

In April 2014, FCX redeemed $210 million of the aggregate principal amount of FM O&G's outstanding 6.625% Senior Notes due 2021. Holders of these senior notes received the principal amount together with the redemption premium and accrued and unpaid interest to the redemption date. As a result of the redemption, FCX recorded a gain on early extinguishment of debt of $6 million in second-quarter 2014.

In accordance with the terms of the senior notes, the April 2014 and July 2014 redemptions were funded with cash contributions to FM O&G by FCX in exchange for additional equity, which is eliminated in the consolidated financial statements.

Consolidated interest expense (excluding capitalized interest) totaled $217 million in third-quarter 2015, $212 million in third-quarter 2014, $642 million for the first nine months of 2015 and $661 million for the first nine months of 2014. Capitalized interest added to property, plant, equipment and mining development costs, net, totaled $42 million in third-quarter 2015, $34 million in third-quarter 2014, $134 million for the first nine months of 2015 and $113 million for the first nine months of 2014. Capitalized interest added to oil and gas properties not subject to amortization totaled $12 million in third-quarter 2015, $20 million in third-quarter 2014, $50 million for the first nine months of 2015 and $65 million for the first nine months of 2014.

Equity Transactions. In September 2015, FCX completed a $1.0 billion at-the-market equity program and announced an additional $1.0 billion at-the-market equity program. Through September 30, 2015, FCX sold 97.5 million shares of its common stock at an average price of $10.35 per share under these programs, which generated gross proceeds of $1.01 billion (net proceeds of $1.00 billion after commissions of $10 million and expenses). From October 1, 2015, through November 5, 2015, FCX sold 34.1 million shares of its common stock at an average price of $12.15 per share, which generated gross proceeds of $414 million (net proceeds of $410 million after commissions of $4 million and expenses). FCX used the net proceeds for general corporate purposes, including the repayment of amounts outstanding under its revolving credit facility and other borrowings, and the financing of working capital and capital expenditures. At October 30, 2015, FCX had 1.2 billion shares of common stock outstanding.

On September 30, 2015, FCX's Board of Directors (the Board) declared a dividend of $0.05 per share, which was paid on November 2, 2015, to common shareholders of record at the close of business on October 15, 2015.