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Business Segments (Tables)
 3 Months Ended
Mar. 31, 2022
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 2022 and 2021 follow (in millions):

Three Months Ended
March 31,
 20222021
Copper:
Concentrate$2,691 $1,709 
Cathode1,435 1,234 
Rod and other refined copper products1,116 684 
Purchased coppera
70 218 
Gold811 518 
Molybdenum378 244 
Other188 253 
Adjustments to revenues:
Treatment charges(133)(97)
Royalty expenseb
(95)(63)
Export dutiesc
(98)(29)
Revenues from contracts with customers6,363 4,671 
Embedded derivativesd
240 179 
Total consolidated revenues$6,603 $4,850 
a.FCX purchases copper cathode primarily for processing by its Rod & Refining operations.
b.Reflects royalties on sales from PT-FI and Cerro Verde that will vary with the volume of metal sold and prices.
c.Reflects PT-FI export duties, including a first-quarter 2022 charge of $18 million associated with an adjustment to prior-period export duties.
d.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, 2022           
Revenues:            
Unaffiliated customers$90 $55 $145 $1,106 $160 $1,266 $2,326 
a
$— $1,743 $718 $405 
b
$6,603 
Intersegment711 1,095 1,806 108 — 108 78 128 9 — (2,129)— 
Production and delivery363 655 1,018 558 112 670 626 75 1,754 722 (1,715)3,150 
Depreciation, depletion and amortization
44 61 105 87 10 97 248 16 1 6 16 489 
Selling, general and administrative expenses
— 1 1 2 — 2 27 — — 8 77 115 
Mining exploration and research expenses— — — — — — — — — — 24 24 
Environmental obligations and shutdown costs
— — — — — — — — — — 16 16 
Operating income (loss)394 433 827 567 38 605 1,503 37 (3)(18)(142)2,809 
Interest expense, net— — — 3 — 3 2 — — 2 120 127 
Provision for (benefit from) income taxes— — — 227 14 241 586 — — — (3)824 
Total assets at March 31, 20222,773 5,284 8,057 8,678 1,925 10,603 19,338 1,702 299 1,045 7,788 48,832 
Capital expenditures73 57 130 33 23 56 379 1 2 11 144 
c
723 
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 58 1,316 673 (1,003)
d
2,787 
Depreciation, depletion and amortization
34 46 80 89 12 101 199 15 1 7 16 419 
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 17,273 1,753 235 997 5,012 43,643 
Capital expenditures10 16 26 20 1 21 290 1 1 6 25 
c
370 
a.Includes PT-FI's sales to PT Smelting totaling $917 million in first-quarter 2022 and $792 million in first-quarter 2021.
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 capital expenditures for the greenfield smelter and PMR.
d.Includes charges associated with the major maintenance turnaround at the Miami Smelter totaling $68 million.