DEBT (Tables)

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Schedule of Debt Components

The components of debt follow:

	December 31,
	2018			2017
Revolving credit facility	$	—		$	—
Cerro Verde credit facility	1,023			1,269
Senior notes and debentures:
Issued by FCX:
2.375% Senior Notes due 2018	—			1,408
3.100% Senior Notes due 2020	999			997
4.00% Senior Notes due 2021	597			596
6.75% Senior Notes due 2022	—			427
3.55% Senior Notes due 2022	1,886			1,884
67/8% Senior Notes due 2023	768			776
3.875% Senior Notes due 2023	1,915			1,914
4.55% Senior Notes due 2024	845			845
5.40% Senior Notes due 2034	741			740
5.450% Senior Notes due 2043	1,843			1,842
Issued by FMC:
71/8% Debentures due 2027	115			115
9½% Senior Notes due 2031	126			127
61/8% Senior Notes due 2034	117			116
Issued by Freeport-McMoRan Oil & Gas LLC (FM O&G LLC):
67/8% Senior Notes due 2023	—			54
Other	166			119
Total debt	11,141			13,229
Less current portion of debt	(17		)	(1,414		)
Long-term debt	$	11,124		$	11,815

Schedule of Long-term Debt Instruments [Table Text Block]

A summary of the tenders follows:

	Principal Amount Outstanding		Principal Amount Tendered		Book Value of New FCX Senior Notes
6.125% Senior Notes due 2019	$	237	$	179	$	186
6½% Senior Notes due 2020	617		552		583
6.625% Senior Notes due 2021	261		228		242
6.75% Senior Notes due 2022	449		404		432
67/8% Senior Notes due 2023	778		728		785
	$	2,342	$	2,091	$	2,228

Debt Instrument Redemption [Table Text Block]

The senior notes listed below are redeemable in whole or in part, at the option of FCX, at a make-whole redemption price prior to the dates stated below, and beginning on the dates stated below at 100 percent of principal.

Debt Instrument	Date
3.55% Senior Notes due 2022	December 1, 2021
3.875% Senior Notes due 2023	December 15, 2022
4.55% Senior Notes due 2024	August 14, 2024
5.40% Senior Notes due 2034	May 14, 2034
5.450% Senior Notes due 2043	September 15, 2042

Schedule of Extinguishment of Debt

A summary of these transactions follows:

	Principal Amount		Net Adjustments			Book Value		Redemption Value		Gain
2.30% Senior Notes due 2017	$	20	$	—		$	20	$	20	$	—
2.375% Senior Notes due 2018	18		—			18		18		—
3.55% Senior Notes due 2022	108		(1		)	107		96		11
3.875% Senior Notes due 2023	77		—			77		68		9
5.40% Senior Notes due 2034	50		(1		)	49		41		8
5.450% Senior Notes due 2043	134		(2		)	132		106		26
	$	407	$	(4	)	$	403	$	349	$	54

A summary of these redemptions follows:

	Principal Amount		Net Adjustments		Book Value		Redemption Value		Gain
FCX 6.75% Senior Notes due 2022	$	404	$	22	$	426	$	418	$	8
FM O&G LLC 67/8% Senior Notes due 2023	50		4		54		52		2
	$	454	$	26	$	480	$	470	$	10

A summary of these debt extinguishments follows:

	Principal Amount		Net Adjustments		Book Value		Redemption Value		Gain
2.375% Senior Notes due 2018	$	74	$	—	$	74	$	74	$	—
FCX 6.125% Senior Notes due 2019	179		5		184		182		2
FM O&G LLC 6.125% Senior Notes due 2019	58		2		60		59		1
FCX 6½% Senior Notes due 2020	552		23		575		562		13
FM O&G LLC 6½% Senior Notes due 2020	65		3		68		66		2
FCX 6.625% Senior Notes due 2021	228		12		240		234		6
FM O&G LLC 6.625% Senior Notes due 2021	33		2		35		34		1
FM O&G LLC 6.750% Senior Notes due 2022	45		2		47		46		1
	$	1,234	$	49	$	1,283	$	1,257	$	26