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Debt (Tables)
 9 Months Ended
Sep. 30, 2017
Debt Instrument, Redemption [Line Items]  
Schedule of Debt [Table Text Block]
DEBT

The components of debt follow (in millions):
 
 
September 30,
2017
 
December 31, 2016
Senior notes and debentures:
 
 
 
 
Issued by FCX
 
$
12,811

 
$
13,745

Issued by FMC
 
358

 
359

Issued by Freeport-McMoRan Oil & Gas LLC (FM O&G LLC)
 
122

 
267

Cerro Verde credit facility
 
1,486

 
1,390

Cerro Verde shareholder loans
 
—

 
261

Other
 
5

 
5

Total debta
 
14,782

 
16,027

Less current portion of debt
 
(2,215
)
 
(1,232
)
Long-term debt
 
$
12,567

 
$
14,795

a.
Includes additions for unamortized fair value adjustments totaling $131 million at September 30, 2017 ($179 million at December 31, 2016), and is net of reductions for unamortized net discounts and unamortized debt issuance costs totaling $92 million at September 30, 2017 ($100 million at December 31, 2016).
Schedule of Extinguishment of Debt [Table Text Block]
During third-quarter 2017, FCX redeemed in full certain senior notes. A summary of these early debt extinguishments follows (in millions):

 
Principal Amount
 
Net Adjustments
 
Book Value
 
Redemption Value
 
Gain
FCX 6.125% Senior Notes due 2019
$
179

 
$
5

 
$
184

 
$
182

 
$
2

FM O&G 6.125% Senior Notes due 2019
58

 
2

 
60

 
59

 
1

FCX 6.625% Senior Notes due 2021
228

 
12

 
240

 
234

 
6

FM O&G 6.625% Senior Notes due 2021
33

 
2

 
35

 
34

 
1

FM O&G 6.75% Senior Notes due 2022
45

 
2

 
47

 
46

 
1

 
$
543

 
$
23

 
$
566

 
$
555

 
$
11