DEBT (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of Debt Components

The components of debt follow:

	December 31,
	2021		2020
Revolving credit facility	$	—	$	—
Senior notes and debentures:
Issued by FCX:
3.55% Senior Notes due 2022	—		523
3.875% Senior Notes due 2023	995		994
4.55% Senior Notes due 2024	728		728
5.00% Senior Notes due 2027	594		593
4.125% Senior Notes due 2028	693		691
4.375% Senior Notes due 2028	643		642
5.25% Senior Notes due 2029	593		593
4.25% Senior Notes due 2030	593		592
4.625% Senior Notes due 2030	841		840
5.40% Senior Notes due 2034	742		742
5.450% Senior Notes due 2043	1,846		1,845
Issued by FMC:
71/8% Debentures due 2027	115		115
9½% Senior Notes due 2031	123		124
61/8% Senior Notes due 2034	117		117
PT-FI Term Loan	432		—
Cerro Verde Term Loan	325		523
Other	70		49
Total debt	9,450		9,711
Less current portion of debt	(372)		(34)
Long-term debt	$	9,078	$	9,677

Schedule of Extinguishment of Debt

Listed below are the FCX senior notes, redeemed in full or purchased during the three-year period ended December 31, 2021.

	Principal Amount		Net Adjustments		Book Value		Redemption/Tender Value		Loss
Year Ended December 31, 2021
FCX 3.55% Senior Notes due 2022	$	524	$	—	$	524	$	524	$	—

Year Ended December 31, 2020
FCX 4.00% Senior Notes due 2021	$	195	$	(1)	$	194	$	205	$	11
FCX 3.55% Senior Notes due 2022	1,356		(6)		1,350		1,391		41
FCX 3.875% Senior Notes due 2023	927		(4)		923		964		41
FCX 4.55% Senior Notes due 2024	120		(1)		119		126		7
Total	$	2,598	$	(12)	$	2,586	$	2,686	$	100

Year Ended December 31, 2019
FCX 3.100% Senior Notes due 2020	$	1,000	$	(2)	$	998	$	1,003	$	5
FCX 6.875% Senior Notes due 2023	728		34		762		768		6
FCX 4.00% Senior Notes due 2021	405		(2)		403		418		15
FCX 3.55% Senior Notes due 2022	12		—		12		12		—
Total	$	2,145	$	30	$	2,175	$	2,201	$	26

Debt Instrument Redemption

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, at specified redemption prices beginning on the dates stated below, and at 100 percent of principal two years before maturity.

Debt Instrument	Date
5.00% Senior Notes due 2027	September 1, 2022
4.125% Senior Notes due 2028	March 1, 2023
4.375% Senior Notes due 2028	August 1, 2023
5.25% Senior Notes due 2029	September 1, 2024
4.25% Senior Notes due 2030	March 1, 2025
4.625% Senior Notes due 2030	August 1, 2025

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
3.875% 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