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Guarantor Financial Statements (Unaudited) (Tables)
 9 Months Ended
Sep. 30, 2015
Guarantor Financial Statements [Abstract]  
Condensed Consolidating Balance Sheets [Table Text Block]
CONDENSED CONSOLIDATING BALANCE SHEET
September 30, 2015
 
FCX
 
FM O&G LLC
 
Non-guarantor
 
 
 
Consolidated
 
Issuer
 
Guarantor
 
Subsidiaries
 
Eliminations
 
FCX
ASSETS
 
 
 
 
 
 
 
 
 
Current assets
$
139

 
$
3,619

 
$
10,291

 
$
(5,894
)
 
$
8,155

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

 
55

 
27,273

 
—

 
27,355

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

 
1,020

 
1,980

 
2

 
3,002

Not subject to amortization
—

 
1,648

 
5,914

 
6

 
7,568

Investments in consolidated subsidiaries
23,276

 
—

 
1,495

 
(24,771
)
 
—

Other assets
8,426

 
4,918

 
4,232

 
(13,273
)
 
4,303

Total assets
$
31,868

 
$
11,260

 
$
51,185

 
$
(43,930
)
 
$
50,383

 
 
 
 
 
 
 
 
 
 
LIABILITIES AND EQUITY
 
 
 
 
 
 
 
 
 
Current liabilities
$
4,546

 
$
522

 
$
5,641

 
$
(5,882
)
 
$
4,827

Long-term debt, less current portion
15,256

 
5,560

 
10,553

 
(11,577
)
 
19,792

Deferred income taxes
1,067

a 
—

 
3,296

 
—

 
4,363

Environmental and asset retirement obligations, less current portion
—

 
322

 
3,386

 
—

 
3,708

Other liabilities
53

 
3,361

 
1,805

 
(3,492
)
 
1,727

Total liabilities
20,922

 
9,765

 
24,681

 
(20,951
)
 
34,417

 
 
 
 
 
 
 
 
 
 
Redeemable noncontrolling interest
—

 
—

 
761

 
—

 
761

 
 
 
 
 
 
 
 
 
 
Equity:
 
 
 
 
 
 
 
 
 
Stockholders' equity
10,946

 
1,495

 
22,018

 
(23,513
)
 
10,946

Noncontrolling interests
—

 
—

 
3,725

 
534

 
4,259

Total equity
10,946

 
1,495

 
25,743

 
(22,979
)
 
15,205

Total liabilities and equity
$
31,868

 
$
11,260

 
$
51,185

 
$
(43,930
)
 
$
50,383

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 September 30, 2015
 
 
 
 
 
 
 
 
 
 
FCX
 
FM O&G LLC
 
Non-guarantor
 
 
 
Consolidated
 
Issuer
 
Guarantor
 
Subsidiaries
 
Eliminations
 
FCX
Revenues
$
—

 
$
158

 
$
3,523

 
$
—

 
$
3,681

Total costs and expenses
12

 
1,874

a 
5,742

a 
(2
)
 
7,626

Operating (loss) income
(12
)
 
(1,716
)
 
(2,219
)
 
2

 
(3,945
)
Interest expense, net
(123
)
 
(1
)
 
(78
)
 
39

 
(163
)
Other income (expense), net
31

 
—

 
(35
)
 
(36
)
 
(40
)
(Loss) income before income taxes and equity in affiliated companies' net (losses) earnings
(104
)
 
(1,717
)
 
(2,332
)
 
5

 
(4,148
)
(Provision for) benefit from income taxes
(1,283
)
 
714

 
931

 
(2
)
 
360

Equity in affiliated companies' net (losses) earnings
(2,443
)
 
(2,237
)
 
(2,445
)
 
7,123

 
(2
)
Net (loss) income
(3,830
)
 
(3,240
)
 
(3,846
)
 
7,126

 
(3,790
)
Net income and preferred dividends attributable to noncontrolling interests
—

 
—

 
(39
)
 
(1
)
 
(40
)
Net (loss) income attributable to common stockholders
$
(3,830
)
 
$
(3,240
)
 
$
(3,885
)
 
$
7,125

 
$
(3,830
)
 
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss)
14

 
—

 
14

 
(14
)
 
14

Total comprehensive (loss) income
$
(3,816
)
 
$
(3,240
)
 
$
(3,871
)
 
$
7,111

 
$
(3,816
)
a.
Includes charges totaling $1.7 billion at the FM O&G LLC guarantor and $2.0 billion at the non-guarantor subsidiaries related to impairment of FCX's oil and gas properties pursuant to full cost accounting rules.
 
 
 
 
 
 
 
 
 
 
Nine Months Ended September 30, 2015
 
 
 
 
 
 
 
 
 
 
FCX
 
FM O&G LLC
 
Non-guarantor
 
 
 
Consolidated
 
Issuer
 
Guarantor
 
Subsidiaries
 
Eliminations
 
FCX
Revenues
$
—

 
$
508

 
$
11,574

 
$
—

 
$
12,082

Total costs and expenses
47

 
4,409

a 
16,923

a 
(15
)
 
21,364

Operating (loss) income
(47
)
 
(3,901
)
 
(5,349
)
 
15

 
(9,282
)
Interest expense, net
(359
)
 
(7
)
 
(202
)
 
110

 
(458
)
Other income (expense), net
187

 
—

 
(83
)
 
(100
)
 
4

(Loss) income before income taxes and equity in affiliated companies' net (losses) earnings
(219
)
 
(3,908
)
 
(5,634
)
 
25

 
(9,736
)
(Provision for) benefit from income taxes
(1,969
)
 
1,504

 
2,217

 
(10
)
 
1,742

Equity in affiliated companies' net (losses) earnings
(5,967
)
 
(6,516
)
 
(8,947
)
 
21,429

 
(1
)
Net (loss) income
(8,155
)
 
(8,920
)
 
(12,364
)
 
21,444

 
(7,995
)
Net income and preferred dividends attributable to noncontrolling interests
—

 
—

 
(133
)
 
(27
)
 
(160
)
Net (loss) income attributable to common stockholders
$
(8,155
)
 
$
(8,920
)
 
$
(12,497
)
 
$
21,417

 
$
(8,155
)
 
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss)
35

 
—

 
35

 
(35
)
 
35

Total comprehensive (loss) income
$
(8,120
)
 
$
(8,920
)
 
$
(12,462
)
 
$
21,382

 
$
(8,120
)
 
 
 
 
 
 
 
 
 
 

a.
Includes charges totaling $3.7 billion at the FM O&G LLC guarantor and $5.7 billion at the non-guarantor subsidiaries related to impairment of FCX's oil and gas properties pursuant to full cost accounting rules.

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

Three Months Ended September 30, 2014
 
 
 
 
 
 
 
 
 
 
FCX
 
FM O&G LLC
 
Non-guarantor
 
 
 
Consolidated
 
Issuer
 
Guarantor
 
Subsidiaries
 
Eliminations
 
FCX
Revenues
$
—

 
$
370

 
$
5,326

 
$
—

 
$
5,696

Total costs and expenses
12

 
916

a 
3,966

 
(330
)
a 
4,564

Operating (loss) income
(12
)
 
(546
)
 
1,360

 
330

 
1,132

Interest expense, net
(99
)
 
(38
)
 
(37
)
 
16

 
(158
)
Net gain on early extinguishment of debt
—

 
58

 
—

 
—

 
58

Other income (expense), net
15

 
—

 
24

 
(16
)
 
23

(Loss) income before income taxes and equity in affiliated companies' net earnings (losses)
(96
)
 
(526
)
 
1,347

 
330

 
1,055

Benefit from (provision for) income taxes
46

 
(104
)
 
(166
)
 
(125
)
 
(349
)
Equity in affiliated companies' net earnings (losses)
602

 
381

 
(111
)
 
(874
)
 
(2
)
Net income (loss)
552

 
(249
)
 
1,070

 
(669
)
 
704

Net income and preferred dividends attributable to noncontrolling interests
—

 
—

 
(130
)
 
(22
)
 
(152
)
Net income (loss) attributable to common stockholders
$
552

 
$
(249
)
 
$
940

 
$
(691
)
 
$
552

 
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss)
7

 
—

 
7

 
(7
)
 
7

Total comprehensive income (loss)
$
559

 
$
(249
)
 
$
947

 
$
(698
)
 
$
559

a.
Includes charges totaling $0.6 billion at the FM O&G LLC guarantor and $(0.3) billion of eliminations related to impairment of FCX's oil and gas properties pursuant to full cost accounting rules.
 
 
 
 
 
 
 
 
 
 
Nine Months Ended September 30, 2014
 
 
 
 
 
 
 
 
 
 
FCX
 
FM O&G LLC
 
Non-guarantor
 
 
 
Consolidated
 
Issuer
 
Guarantor
 
Subsidiaries
 
Eliminations
 
FCX
Revenues
$
—

 
$
1,584

 
$
14,619

 
$
—

 
$
16,203

Total costs and expenses
44

 
1,931

a 
11,170

 
(338
)
a 
12,807

Operating (loss) income
(44
)
 
(347
)
 
3,449

 
338

 
3,396

Interest expense, net
(268
)
 
(123
)
 
(146
)
 
54

 
(483
)
Net (loss) gain on early extinguishment of debt
(1
)
 
64

 
—

 
—

 
63

Other income (expense), net
52

 
1

 
49

 
(54
)
 
48

(Loss) income before income taxes and equity in affiliated companies' net earnings (losses)
(261
)
 
(405
)
 
3,352

 
338

 
3,024

Benefit from (provision for) income taxes
51

 
(121
)
 
(836
)
 
(128
)
 
(1,034
)
Equity in affiliated companies' net earnings (losses)
1,754

 
637

 
228

 
(2,619
)
 
—

Net income (loss)
1,544

 
111

 
2,744

 
(2,409
)
 
1,990

Net income and preferred dividends attributable to noncontrolling interests
—

 
—

 
(421
)
 
(25
)
 
(446
)
Net income (loss) attributable to common stockholders
$
1,544

 
$
111

 
$
2,323

 
$
(2,434
)
 
$
1,544

 
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss)
11

 
—

 
11

 
(11
)
 
11

Total comprehensive income (loss)
$
1,555

 
$
111

 
$
2,334

 
$
(2,445
)
 
$
1,555

 
 
 
 
 
 
 
 
 
 

a.
Includes charges totaling $0.6 billion at the FM O&G LLC guarantor and $(0.3) billion of eliminations related to impairment of FCX's oil and gas properties pursuant to full cost accounting rules.
Condensed Consolidating Statements of Cash Flows [Table Text Block]
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
Nine Months Ended September 30, 2015
 
FCX
 
FM O&G LLC
 
Non-guarantor
 
 
 
Consolidated
 
Issuer
 
Guarantor
 
Subsidiaries
 
Eliminations
 
FCX
Cash flow from operating activities:
 
 
 
 
 
 
 
 
 
Net (loss) income
$
(8,155
)
 
$
(8,920
)
 
$
(12,364
)
 
$
21,444

 
$
(7,995
)
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
 
 
 
 
 
 
 
 
 
Depreciation, depletion and amortization
3

 
303

 
2,474

 
(63
)
 
2,717

Impairment of oil and gas properties
—

 
3,710

 
5,684

 
48

 
9,442

Net gains on crude oil derivative contracts
—

 
(87
)
 
—

 
—

 
(87
)
Equity in losses (earnings) of consolidated subsidiaries
5,967

 
6,516

 
8,947

 
(21,429
)
 
1

Other, net
(1,953
)
 
2

 
139

 
—

 
(1,812
)
Changes in working capital and other tax payments
4,001

 
(1,213
)
 
(2,457
)
 
11

 
342

Net cash (used in) provided by operating activities
(137
)
 
311

 
2,423

 
11

 
2,608

 
 
 
 
 
 
 
 
 
 
Cash flow from investing activities:
 
 
 
 
 
 
 
 
 
Capital expenditures
(7
)
 
(959
)
 
(4,079
)
 
(10
)
 
(5,055
)
Intercompany loans
(1,310
)
 
(955
)
 
—

 
2,265

 
—

Dividends from (investments in) consolidated subsidiaries
693

 
(49
)
 
102

 
(748
)
 
(2
)
Other, net
(21
)
 
(2
)
 
118

 
21

 
116

Net cash (used in) provided by investing activities
(645
)
 
(1,965
)
 
(3,859
)
 
1,528

 
(4,941
)
 
 
 
 
 
 
 
 
 
 
Cash flow from financing activities:
 
 
 
 
 
 
 
 
 
Proceeds from debt
3,893

 
—

 
2,659

 
—

 
6,552

Repayments of debt
(3,550
)
 
—

 
(1,143
)
 
—

 
(4,693
)
Intercompany loans
—

 
1,708

 
557

 
(2,265
)
 
—

Net proceeds from sale of common stock
999

 
—

 
—

 
—

 
999

Cash dividends and distributions paid, and contributions received
(547
)
 
(17
)
 
(749
)
 
677

 
(636
)
Other, net
(13
)
 
(37
)
 
(14
)
 
49

 
(15
)
Net cash provided by (used in) financing activities
782

 
1,654

 
1,310

 
(1,539
)
 
2,207

 
 
 
 
 
 
 
 
 
 
Net decrease in cash and cash equivalents
—

 
—

 
(126
)
 
—

 
(126
)
Cash and cash equivalents at beginning of period
—

 
1

 
463

 
—

 
464

Cash and cash equivalents at end of period
$
—

 
$
1

 
$
337

 
$
—

 
$
338


CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
Nine Months Ended September 30, 2014
 
FCX
 
FM O&G LLC
 
Non-guarantor
 
 
 
Consolidated
 
Issuer
 
Guarantor
 
Subsidiaries
 
Eliminations
 
FCX
Cash flow from operating activities:
 
 
 
 
 
 
 
 
 
Net income (loss)
$
1,544

 
$
111

 
$
2,744

 
$
(2,409
)
 
$
1,990

Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
 
 
 
 
 
 
 
 
 
Depreciation, depletion and amortization
3

 
673

 
2,269

 
(21
)
 
2,924

Impairment of oil and gas properties
—

 
625

 
—

 
(317
)
 
308

Net losses on crude oil and natural gas derivative contracts
—

 
56

 
—

 
—

 
56

Net gain (loss) on early extinguishment of debt
1

 
(64
)
 
—

 
—

 
(63
)
Equity in (earnings) losses of consolidated subsidiaries
(1,754
)
 
(637
)
 
4

 
2,387

 
—

Other, net
87

 
(17
)
 
(73
)
 
—

 
(3
)
Changes in working capital and other tax payments
(217
)
 
(1,166
)
 
684

 
—

 
(699
)
Net cash (used in) provided by operating activities
(336
)
 
(419
)
 
5,628

 
(360
)
 
4,513

 
 
 
 
 
 
 
 
 
 
Cash flow from investing activities:
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
(1,771
)
 
(3,644
)
 
—

 
(5,415
)
Acquisition of Deepwater GOM interests
—

 
—

 
(1,421
)
 
—

 
(1,421
)
Intercompany loans
1,151

 
734

 
—

—

(1,885
)
 
—

(Investments in) dividends from consolidated subsidiaries
(959
)
 
(97
)
 
(696
)
 
1,752

 
—

Net proceeds from sale of Eagle Ford shale assets
—

 
2,971


—

 
—

 
2,971

Other, net
—

 
32

 
189

 
—

 
221

Net cash provided by (used in) investing activities
192

 
1,869

 
(5,572
)
 
(133
)
 
(3,644
)
 
 
 
 
 
 
 
 
 
 
Cash flow from financing activities:
 
 
 
 
 
 
 
 
 
Proceeds from debt
2,806

 
—

 
540

 
—

 
3,346

Repayments of debt
(1,686
)
 
(1,996
)
 
(514
)
 
—

 
(4,196
)
Intercompany loans
—

 
213

 
(2,098
)
 
1,885

 
—

Cash dividends and distributions paid, and contributions received
(979
)
 
336

 
691

 
(1,392
)
 
(1,344
)
Other, net
3

 
(2
)
 
(3
)
 
—

 
(2
)
Net cash provided by (used in) financing activities
144

 
(1,449
)
 
(1,384
)
 
493

 
(2,196
)
 
 
 
 
 
 
 
 
 
 
Net increase (decrease) in cash and cash equivalents
—

 
1

 
(1,328
)
 
—

 
(1,327
)
Cash and cash equivalents at beginning of period
—

 
—

 
1,985

 
—

 
1,985

Cash and cash equivalents at end of period
$
—

 
$
1

 
$
657

 
$
—

 
$
658