Income Taxes (Unaudited) (Tables)

9 Months Ended

Sep. 30, 2020

Income Tax Disclosure [Abstract]

Income before income taxes and equity in an affiliated companies' net earnings

Geographic sources of FCX’s benefit from (provision for) income taxes follow (in millions):

	Nine Months Ended
	September 30,
	2020			2019
U.S. operations	$	56	a	$	73	b
International operations	(389)		c	(254)
Total	$	(333)		$	(181)	d

a.Includes a tax credit of $53 million associated with the reversal of a year-end 2019 tax charge related to the sale of FCX’s interest in the lower zone of the Timok exploration project in Serbia.

b.Includes tax credits totaling $24 million primarily associated with state law changes and settlement of state income tax examinations.

c.Includes a tax charge of $21 million ($17 million net of noncontrolling interests) associated with establishing a tax reserve related to the treatment of prior year contractor support costs.

d.Includes net tax charges totaling $49 million primarily to adjust deferred taxes on historical balance sheet items in accordance with tax accounting principles.