XML 62 R44.htm IDEA: XBRL DOCUMENT v3.10.0.1
Business Segments (Segment Reporting) (Details)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2018
USD ($)
Sep. 30, 2017
USD ($)
Sep. 30, 2018
USD ($)
segment
Sep. 30, 2017
USD ($)
Dec. 31, 2017
USD ($)
Segment Reporting Information [Line Items]          
Number of Operating Segments | segment     4    
Deferred Intercompany Profit, Percentage     25.00%    
Revenues $ 4,908 $ 4,310 $ 14,944 $ 11,362  
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (3,069) (2,794) (8,792) (7,462)  
Cost, Depreciation, Amortization and Depletion 458 418 1,351 1,257  
Selling, general and administrative expenses (101) (104) (341) (362)  
Mining exploration and research expenses 27 27 72 60  
Environmental obligations and shutdown costs 8 72 76 76  
Net gain on sales of assets (70) (33) (126) (66)  
Operating income 1,315 928 4,438 2,211  
Interest expense, net (143) (304) (436) (633)  
Provision for (benefit from) income taxes 522 387 1,543 747  
Total assets 37,749 37,327 37,749 37,327 $ 37,302
Capital expenditures 507 314 1,391 1,020  
Assets held for sale 626 459 626 459 $ 508
Operating Segments | North America          
Segment Reporting Information [Line Items]          
Revenues 32 97 88 290  
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (789) (652) (2,369) (2,038)  
Cost, Depreciation, Amortization and Depletion 88 96 274 330  
Selling, general and administrative expenses (1) (2) (5) (4)  
Mining exploration and research expenses 1 0 2 2  
Environmental obligations and shutdown costs 2 0 2 0  
Net gain on sales of assets 0 0 0 0  
Operating income 205 355 989 974  
Interest expense, net (1) (1) (3) (3)  
Provision for (benefit from) income taxes 0 0 0 0  
Total assets 7,291 7,067 7,291 7,067  
Capital expenditures 181 39 413 106  
Operating Segments | South America          
Segment Reporting Information [Line Items]          
Revenues 809 959 2,474 2,389  
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (624) (759) (1,745) (1,695)  
Cost, Depreciation, Amortization and Depletion 142 134 402 392  
Selling, general and administrative expenses (3) (2) (7) (7)  
Mining exploration and research expenses 0 0 0 0  
Environmental obligations and shutdown costs 0 0 0 0  
Net gain on sales of assets 0 0 0 0  
Operating income 111 128 593 532  
Interest expense, net (15) (156) (48) (187)  
Provision for (benefit from) income taxes 42 139 222 298  
Total assets 10,322 10,446 10,322 10,446  
Capital expenditures 50 20 188 65  
Corporate And Eliminations          
Segment Reporting Information [Line Items]          
Revenues 573 442 1,777 1,261  
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization 716 754 2,626 2,327  
Cost, Depreciation, Amortization and Depletion 18 23 53 77  
Selling, general and administrative expenses (63) (64) (217) (246)  
Mining exploration and research expenses 26 27 70 58  
Environmental obligations and shutdown costs 6 72 74 76  
Net gain on sales of assets (70) (33) (126) (66)  
Operating income (49) (103) (158) (320)  
Interest expense, net (120) (141) (367) (429)  
Provision for (benefit from) income taxes 56 14 66 10  
Total assets 5,445 5,814 5,445 5,814  
Capital expenditures 22 41 76 149  
Intersegment          
Segment Reporting Information [Line Items]          
Revenues 0 0 0 0  
Intersegment | North America          
Segment Reporting Information [Line Items]          
Revenues 1,054 1,008 3,553 3,058  
Intersegment | South America          
Segment Reporting Information [Line Items]          
Revenues 71 64 273 237  
Pt Smelting [Member] | Affiliated Entity [Member]          
Segment Reporting Information [Line Items]          
Revenues 827 652 2,100 1,400  
Morenci [Member] | Operating Segments | North America          
Segment Reporting Information [Line Items]          
Revenues 30 57 58 168  
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (304) (242) (892) (765)  
Cost, Depreciation, Amortization and Depletion 43 42 133 138  
Selling, general and administrative expenses (1) (1) (3) (2)  
Mining exploration and research expenses 0 0 0 0  
Environmental obligations and shutdown costs 0 0 0 0  
Net gain on sales of assets 0 0 0 0  
Operating income 149 232 666 617  
Interest expense, net (1) (1) (3) (2)  
Provision for (benefit from) income taxes 0 0 0 0  
Total assets 2,826 2,844 2,826 2,844  
Capital expenditures 63 26 151 78  
Morenci [Member] | Intersegment | North America          
Segment Reporting Information [Line Items]          
Revenues 467 460 1,636 1,354  
Other Individually Immaterial Operating Segments [Member] | Operating Segments | North America          
Segment Reporting Information [Line Items]          
Revenues 2 40 30 122  
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (485) (410) (1,477) (1,273)  
Cost, Depreciation, Amortization and Depletion 45 54 141 192  
Selling, general and administrative expenses 0 (1) (2) (2)  
Mining exploration and research expenses 1 0 2 2  
Environmental obligations and shutdown costs 2 0 2 0  
Net gain on sales of assets 0 0 0 0  
Operating income 56 123 323 357  
Interest expense, net 0 0 0 (1)  
Provision for (benefit from) income taxes 0 0 0 0  
Total assets 4,465 4,223 4,465 4,223  
Capital expenditures 118 13 262 28  
Other Individually Immaterial Operating Segments [Member] | Operating Segments | South America          
Segment Reporting Information [Line Items]          
Revenues 122 109 443 332  
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (105) (76) (354) (245)  
Cost, Depreciation, Amortization and Depletion 20 18 66 60  
Selling, general and administrative expenses 0 0 0 0  
Mining exploration and research expenses 0 0 0 0  
Environmental obligations and shutdown costs 0 0 0 0  
Net gain on sales of assets 0 0 0 0  
Operating income (3) 15 23 27  
Interest expense, net 0 0 0 0  
Provision for (benefit from) income taxes 5 5 15 10  
Total assets 1,709 1,595 1,709 1,595  
Capital expenditures 3 3 10 5  
Other Individually Immaterial Operating Segments [Member] | Intersegment | North America          
Segment Reporting Information [Line Items]          
Revenues 587 548 1,917 1,704  
Other Individually Immaterial Operating Segments [Member] | Intersegment | South America          
Segment Reporting Information [Line Items]          
Revenues 0 0 0 0  
Cerro Verde [Member] | Operating Segments | South America          
Segment Reporting Information [Line Items]          
Revenues 687 850 2,031 2,057  
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (519) (683) (1,391) (1,450)  
Cost, Depreciation, Amortization and Depletion 122 116 336 332  
Selling, general and administrative expenses (3) (2) (7) (7)  
Mining exploration and research expenses 0 0 0 0  
Environmental obligations and shutdown costs 0 0 0 0  
Net gain on sales of assets 0 0 0 0  
Operating income 114 113 570 505  
Interest expense, net (15) (156) (48) (187)  
Provision for (benefit from) income taxes 37 134 207 288  
Total assets 8,613 8,851 8,613 8,851  
Capital expenditures 47 17 178 60  
Cerro Verde [Member] | Intersegment | South America          
Segment Reporting Information [Line Items]          
Revenues 71 64 273 237  
Grasberg Segment [Member]          
Segment Reporting Information [Line Items]          
Capital expenditures     695 663  
Grasberg Segment [Member] | Operating Segments | Indonesia          
Segment Reporting Information [Line Items]          
Revenues 1,703 1,121 4,863 2,720  
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (522) (407) (1,404) (1,224)  
Cost, Depreciation, Amortization and Depletion 181 136 534 372  
Selling, general and administrative expenses (29) (32) (96) (92)  
Mining exploration and research expenses 0 0 0 0  
Environmental obligations and shutdown costs 0 0 0 0  
Net gain on sales of assets 0 0 0 0  
Operating income 1,032 546 2,943 1,032  
Interest expense, net 0 (1) 0 (1)  
Provision for (benefit from) income taxes 424 233 1,254 435  
Total assets 11,764 11,100 11,764 11,100  
Capital expenditures 246 206 695 663  
Grasberg Segment [Member] | Intersegment | Indonesia          
Segment Reporting Information [Line Items]          
Revenues 61 0 114 0  
Molybdenum [Member]          
Segment Reporting Information [Line Items]          
Capital expenditures     6 4  
Molybdenum [Member] | Operating Segments          
Segment Reporting Information [Line Items]          
Revenues 0 0 0 0  
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (76) (57) (214) (167)  
Cost, Depreciation, Amortization and Depletion 20 20 60 58  
Selling, general and administrative expenses 0 0 0 0  
Mining exploration and research expenses 0 0 0 0  
Environmental obligations and shutdown costs 0 0 0 0  
Net gain on sales of assets 0 0 0 0  
Operating income 5 (12) 33 (26)  
Interest expense, net 0 0 0 0  
Provision for (benefit from) income taxes 0 0 0 0  
Total assets 1,808 1,885 1,808 1,885  
Capital expenditures 4 2 6 4  
Molybdenum [Member] | Intersegment          
Segment Reporting Information [Line Items]          
Revenues 101 65 307 199  
Rod and Refining Segment [Member] | Operating Segments          
Segment Reporting Information [Line Items]          
Revenues 1,212 1,137 3,984 3,290  
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (1,215) (1,140) (3,992) (3,296)  
Cost, Depreciation, Amortization and Depletion 3 2 8 7  
Selling, general and administrative expenses 0 0 0 0  
Mining exploration and research expenses 0 0 0 0  
Environmental obligations and shutdown costs 0 0 0 0  
Net gain on sales of assets 0 0 0 0  
Operating income 2 3 8 9  
Interest expense, net 0 0 0 0  
Provision for (benefit from) income taxes 0 0 0 0  
Total assets 284 264 284 264  
Capital expenditures 1 1 3 3  
Rod and Refining Segment [Member] | Intersegment          
Segment Reporting Information [Line Items]          
Revenues 8 8 24 22  
Atlantic Copper Smelting and Refining Segment [Member] | Operating Segments          
Segment Reporting Information [Line Items]          
Revenues 579 554 1,758 1,412  
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (559) (533) (1,694) (1,369)  
Cost, Depreciation, Amortization and Depletion 6 7 20 21  
Selling, general and administrative expenses (5) (4) (16) (13)  
Mining exploration and research expenses 0 0 0 0  
Environmental obligations and shutdown costs 0 0 0 0  
Net gain on sales of assets 0 0 0 0  
Operating income 9 11 30 10  
Interest expense, net (7) (5) (18) (13)  
Provision for (benefit from) income taxes 0 1 1 4  
Total assets 835 751 835 751  
Capital expenditures 3 5 10 30  
Atlantic Copper Smelting and Refining Segment [Member] | Intersegment          
Segment Reporting Information [Line Items]          
Revenues 0 1 2 1  
Corporate And Eliminations | Intersegment          
Segment Reporting Information [Line Items]          
Revenues (1,295) (1,146) (4,273) (3,517)  
One-time Termination Benefits [Member] | Grasberg Segment [Member] | Operating Segments | Indonesia          
Segment Reporting Information [Line Items]          
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization       (112)  
Selling, general and administrative expenses       (5)  
Cerro Verde Collective Labor Agreement [Member] | Cerro Verde [Member] | Operating Segments | South America          
Segment Reporting Information [Line Items]          
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (69)   69    
Onshore California [Member] | Corporate And Eliminations          
Segment Reporting Information [Line Items]          
Net gain on sales of assets (20)   (76)    
Gulf of Mexico Shelf and Madden properties [Member] | Corporate And Eliminations          
Segment Reporting Information [Line Items]          
Net gain on sales of assets   (33)   (49)  
Freeport Cobalt [Member] | Corporate And Eliminations          
Segment Reporting Information [Line Items]          
Net gain on sales of assets $ (50)   $ (50)    
Kisanfu Exploration Project [Member] | Corporate And Eliminations          
Segment Reporting Information [Line Items]          
Net gain on sales of assets       (13)  
Royalty Assessments [Member] | Cerro Verde [Member] | Operating Segments | South America          
Segment Reporting Information [Line Items]          
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization   (216)   (216)  
Interest expense, net   (141)   (141)  
Provision for (benefit from) income taxes   2   2  
Restatement Adjustment [Member] | Accounting Standards Update 2017-05 [Member]          
Segment Reporting Information [Line Items]          
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization   8   35  
Selling, general and administrative expenses   2   4  
Mining exploration and research expenses       (1)  
Environmental obligations and shutdown costs   (1)   (5)  
Operating income   $ 11   $ 45