Debt and Equity Transactions (Unaudited) Debt (Tables)

6 Months Ended

Jun. 30, 2016

Debt Instrument [Line Items]

Schedule of Extinguishment of Debt [Table Text Block]

A summary of these debt extinguishments follows (in millions):

	Principal Amount		Discounts/Deferred Debt Issuance Costs		Book Value		Gain
3.55% Senior Notes due 2022	$	85	$	—	$	85	$	9
3.875% Senior Notes due 2023	52		—		52		6
5.40% Senior Notes due 2034	50		1		49		8
5.450% Senior Notes due 2043	81		1		80		16
Total	$	268	$	2	$	266	$	39

Schedule of Debt [Table Text Block]

The components of debt follow (in millions):

	June 30, 2016			December 31, 2015
Term Loan	$	2,446		$	3,032
Revolving credit facility	—			—
Cerro Verde credit facility	1,784			1,781
Cerro Verde shareholder loans	261			259
Lines of credit	192			442
Senior notes and debentures:
Issued by FCX	11,648			11,908
Issued by Freeport-McMoRan Oil & Gas LLC (FM O&G LLC)	2,524			2,539
Issued by FMC	359			359
Other (including equipment capital leases and other short-term borrowings)	105			108
Total debta	19,319			20,428
Less current portion of debt	(770		)	(649		)
Long-term debt	$	18,549		$	19,779

a. Includes additions for unamortized fair value adjustments totaling $195 million at June 30, 2016, and $210 million at December 31, 2015, and net reductions for unamortized debt issuance costs and unamortized discounts of $120 million at June 30, 2016, and $129 million at December 31, 2015.