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Business Segments (Tables)
 3 Months Ended
Mar. 31, 2021
Segment Reporting [Abstract]  
Revenue from External Customers by Products and Services
Product Revenues. FCX’s revenues attributable to the products it sold for the first quarters of 2021 and 2020 follow (in millions):
Three Months Ended
March 31,
 20212020
Copper:
Concentrate$1,709 $849 
Cathode1,234 837 
Rod and other refined copper products684 542 
Purchased coppera
218 235 
Gold518 270 
Molybdenum244 243 
Otherb
253 157 
Adjustments to revenues:
Treatment charges(97)(80)
Royalty expensec
(63)(20)
Export dutiesd
(29)(4)
Revenues from contracts with customers4,671 3,029 
Embedded derivativese
179 (231)
Total consolidated revenues$4,850 $2,798 
a.FCX purchases copper cathode primarily for processing by its Rod & Refining operations.
b.Primarily includes revenues associated with cobalt and silver.
c.Reflects royalties on sales from PT-FI and Cerro Verde that will vary with the volume of metal sold and prices.
d.Reflects PT-FI export duties.
e.Refer to Note 6 for discussion of embedded derivatives related to FCX’s provisionally priced concentrate and cathode sales contracts.
Schedule of financial information by business segment
Financial Information by Business Segment
(In millions)
    
 AtlanticCorporate,
North America Copper MinesSouth America MiningCopperOther
CerroIndonesiaMolybdenumRod &Smelting& Elimi-FCX
MorenciOtherTotalVerdeOtherTotalMiningMinesRefining& RefiningnationsTotal
Three Months Ended March 31, 2021           
Revenues:            
Unaffiliated customers$4 $28 $32 $917 $175 $1,092 $1,383 
a
$— $1,309 $687 $347 
b
$4,850 
Intersegment564 742 1,306 45 — 45 52 70 7 — (1,480)— 
Production and delivery269 480 749 436 103 539 455 57 1,316 673 (1,003)
c
2,786 
Depreciation, depletion and amortization
34 46 80 89 12 101 199 15 1 7 16 419 
Metals inventory adjustments
— — — — — — — 1 — — — 1 
Selling, general and administrative expenses
— 1 1 2 — 2 26 — — 7 64 100 
Mining exploration and research expenses— — — — — — — — — — 7 7 
Environmental obligations and shutdown costs
— — — — — — — — — — 5 5 
Operating income (loss)265 243 508 435 60 495 755 (3)(1)— (222)1,532 
Interest expense, net— — — 13 — 13 1 — — 1 130 145 
Provision for (benefit from) income taxes— — — 173 21 194 315 — — — (66)443 
Total assets at March 31, 20212,629 5,283 7,912 8,723 1,738 10,461 17,551 1,753 235 997 4,734 43,643 
Capital expenditures10 16 26 20 1 21 310 1 1 6 5 370 
Three Months Ended March 31, 2020            
Revenues:            
Unaffiliated customers$2 $7 $9 $376 $98 $474 $445 
a
$— $1,115 $429 $326 
b
$2,798 
Intersegment442 534 976 38 — 38 — 71 8 11 (1,104)— 
Production and delivery349 511 860 424 110 534 343 66 1,119 411 (788)2,545 
Depreciation, depletion and amortization
44 48 92 93 15 108 101 16 2 7 15 341 
Metals inventory adjustments
4 141 145 — 60 60 — 4 — — 13 222 
Selling, general and administrative expenses
1 — 1 2 — 2 28 — — 5 74 110 
Mining exploration and research expenses— 1 1 — — — — — — — 15 16 
Environmental obligations and shutdown costs
— — — — — — — — 1 — 25 26 
Net loss on sales of assets— — — — — — — — — — 11 11 
Operating income (loss)46 (160)(114)(105)(87)(192)(27)(15)1 17 (143)(473)
Interest expense, net1 — 1 28 — 28 1 — — 3 94 127 
(Benefit from) provision for income taxes— — — (52)(26)(78)12 — — — 6 (60)
Total assets at March 31, 20202,814 5,093 7,907 8,471 1,655 10,126 16,711 1,788 231 635 2,821 40,219 
Capital expenditures44 140 184 59 15 74 326 7 2 6 11 610 
a.Includes PT-FI's sales to PT Smelting totaling $792 million in first-quarter 2021 and $380 million in first-quarter 2020.
b.Includes revenues from FCX's molybdenum sales company, which includes sales of molybdenum produced by the Molybdenum mines and by certain of the North America and South America copper mines.
c.Includes charges associated with the major maintenance turnaround at the Miami smelter totaling $68 million.