Income Taxes

6 Months Ended

Jun. 30, 2022

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

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

	Six Months Ended
	June 30,
	2022		2021
U.S. operations	$	(5)	$	(4)
International operations	(1,390)		(1,042)
Total	$	(1,395)	$	(1,046)

FCX’s consolidated effective income tax rate was 32 percent for the first six months of 2022 and 31 percent for the first six months of 2021. Variations in the relative proportions of jurisdictional income result in fluctuations to FCX’s consolidated effective income tax rate. Because of its U.S. tax position, FCX does not record a financial statement impact for income or losses generated in the U.S.