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Business Segments (Segment Reporting) (Details)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2022
USD ($)
Jun. 30, 2021
USD ($)
Jun. 30, 2022
USD ($)
segment
Jun. 30, 2021
USD ($)
Dec. 31, 2021
USD ($)
Segment Reporting Information [Line Items]          
Number of Operating Segments | segment     4    
Revenues $ 5,416 $ 5,748 $ 12,019 $ 10,598  
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (Deprecated 2019-01-31) (3,003) (3,067) (6,153) (5,853)  
Cost, Depreciation, Amortization and Depletion 507 483 996 902  
Metals inventory adjustments 18 0 18 1  
Selling, general and administrative expenses (100) (87) (215) (187)  
Mining exploration and research expenses 25 14 49 21  
Environmental obligations and shutdown costs 29 33 45 38  
Net gain on sales of assets (2) (3) (2) (3)  
Operating income 1,736 2,067 4,545 3,599  
Interest expense, net 156 148 283 293  
Provision for (benefit from) income taxes 571 603 1,395 1,046  
Total assets 50,113 45,436 50,113 45,436 $ 48,022
Capital expenditures 863 433 $ 1,586 803  
Business Segment     BUSINESS SEGMENTS
FCX has organized its mining operations into four primary divisions – North America copper mines, South America mining, Indonesia mining and Molybdenum mines – and operating segments that meet certain thresholds are reportable segments. Separately disclosed in the following tables are FCX’s reportable segments, which include the Morenci and Cerro Verde copper mines, the Grasberg minerals district (Indonesia Mining), the Rod & Refining operations and Atlantic Copper Smelting & Refining.

Intersegment sales between FCX’s business segments are based on terms similar to arms-length transactions with third parties at the time of the sale. Intersegment sales may not be reflective of the actual prices ultimately realized because of a variety of factors, including additional processing, timing of sales to unaffiliated customers and transportation premiums.

FCX defers recognizing profits on sales from its mines to other segments, including Atlantic Copper Smelting & Refining, and on 39.5 percent of PT-FI’s sales to PT Smelting, until final sales to third parties occur. Quarterly variations in ore grades, the timing of intercompany shipments and changes in product prices result in variability in FCX’s net deferred profits and quarterly earnings.
FCX allocates certain operating costs, expenses and capital expenditures to its operating divisions and individual segments. However, not all costs and expenses applicable to an operation are allocated. U.S. federal and state income taxes are recorded and managed at the corporate level (included in Corporate, Other & Eliminations), whereas foreign income taxes are recorded and managed at the applicable country level. In addition, most mining exploration and research activities are managed on a consolidated basis, and those costs, along with some selling, general and administrative costs, are not allocated to the operating divisions or individual segments. Accordingly, the following Financial Information by Business Segment reflects management determinations that may not be indicative of what the actual financial performance of each operating division or segment would be if it was an independent entity.

Product Revenues. FCX’s revenues attributable to the products it sold for the second quarters and first six months of 2022 and 2021 follow (in millions):

Three Months EndedSix Months Ended
June 30,June 30,
 2022202120222021
Copper:
Concentrate$2,694 $2,076 $5,385 $3,785 
Cathode1,183 1,535 2,618 2,769 
Rod and other refined copper products1,071 833 2,187 1,517 
Purchased coppera
104 310 174 528 
Gold909 597 1,720 1,115 
Molybdenum377 288 755 532 
Other165 203 353 456 
Adjustments to revenues:
Treatment charges(139)(101)(272)(198)
Royalty expenseb
(111)(82)(206)(145)
Export dutiesc
(84)(44)(182)
d
(73)
Revenues from contracts with customers6,169 5,615 12,532 10,286 
Embedded derivativese
(753)133 (513)312 
Total consolidated revenues$5,416 $5,748 $12,019 $10,598 
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.
d.Includes a charge of $18 million associated with an adjustment to prior-period export duties.
e.Refer to Note 6 for discussion of embedded derivatives related to FCX’s provisionally priced concentrate and cathode sales contracts.
    
PT Smelting          
Segment Reporting Information [Line Items]          
Deferred Intercompany Profit, Percentage     39.50%    
Cerro Verde          
Segment Reporting Information [Line Items]          
Metals inventory adjustments 9   $ 9    
Operating Segments | North America          
Segment Reporting Information [Line Items]          
Revenues 47 112 192 144  
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (Deprecated 2019-01-31) (1,117) (925) (2,135) (1,674)  
Cost, Depreciation, Amortization and Depletion 102 101 207 181  
Metals inventory adjustments 7   7 0  
Selling, general and administrative expenses (1) (1) (2) (2)  
Mining exploration and research expenses 1 0 1 0  
Environmental obligations and shutdown costs (13) 1 (13) 1  
Net gain on sales of assets 0 0 0 0  
Operating income 640 826 1,467 1,334  
Interest expense, net 0 0 0 0  
Provision for (benefit from) income taxes 0 0 0 0  
Total assets 8,177 7,923 8,177 7,923  
Capital expenditures 146 69 276 95  
Operating Segments | South America          
Segment Reporting Information [Line Items]          
Revenues 882 1,013 2,148 2,105  
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (Deprecated 2019-01-31) (742) (600) (1,412) (1,139)  
Cost, Depreciation, Amortization and Depletion 102 94 199 195  
Metals inventory adjustments 11   11 0  
Selling, general and administrative expenses (2) (2) (4) (4)  
Mining exploration and research expenses 0 0 0 0  
Environmental obligations and shutdown costs 0 0 0 0  
Net gain on sales of assets 0 0 0 0  
Operating income 159 437 764 932  
Interest expense, net 4 12 7 25  
Provision for (benefit from) income taxes 61 162 302 356  
Total assets 10,222 10,590 10,222 10,590  
Capital expenditures 68 26 124 47  
Corporate And Eliminations          
Segment Reporting Information [Line Items]          
Revenues 381 387 786 734  
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (Deprecated 2019-01-31) 1,728 1,508 3,443 2,511  
Cost, Depreciation, Amortization and Depletion 16 15 32 31  
Metals inventory adjustments 0   0 0  
Selling, general and administrative expenses (62) (52) (139) (116)  
Mining exploration and research expenses 24 14 48 21  
Environmental obligations and shutdown costs 42 32 58 37  
Net gain on sales of assets (2) (3) (2) (3)  
Operating income (185) (228) (327) (450)  
Interest expense, net 137 128 257 258  
Provision for (benefit from) income taxes 76 37 73 (29)  
Total assets 7,955 5,660 7,955 5,660  
Capital expenditures 219 43 371 68  
Intersegment          
Segment Reporting Information [Line Items]          
Revenues 0 0 0 0  
Intersegment | North America          
Segment Reporting Information [Line Items]          
Revenues 1,808 1,742 3,614 3,048  
Intersegment | South America          
Segment Reporting Information [Line Items]          
Revenues 134 120 242 165  
PT Smelting | Affiliated Entity [Member]          
Segment Reporting Information [Line Items]          
Revenues 827 756 1,700 1,500  
Morenci | Operating Segments | North America          
Segment Reporting Information [Line Items]          
Revenues 17 57 107 61  
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (Deprecated 2019-01-31) (397) (351) (760) (620)  
Cost, Depreciation, Amortization and Depletion 44 40 88 74  
Metals inventory adjustments 0   0 0  
Selling, general and administrative expenses (1) (1) (1) (1)  
Mining exploration and research expenses 0 0 0 0  
Environmental obligations and shutdown costs (13) 1 (13) 1  
Net gain on sales of assets 0 0 0 0  
Operating income 318 385 712 650  
Interest expense, net 0 0 0 0  
Provision for (benefit from) income taxes 0 0 0 0  
Total assets 2,839 2,635 2,839 2,635  
Capital expenditures 63 22 136 32  
Morenci | Intersegment | North America          
Segment Reporting Information [Line Items]          
Revenues 730 721 1,441 1,285  
Other Individually Immaterial Operating Segments | Operating Segments | North America          
Segment Reporting Information [Line Items]          
Revenues 30 55 85 83  
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (Deprecated 2019-01-31) (720) (574) (1,375) (1,054)  
Cost, Depreciation, Amortization and Depletion 58 61 119 107  
Metals inventory adjustments 7   7 0  
Selling, general and administrative expenses 0 0 (1) (1)  
Mining exploration and research expenses 1 0 1 0  
Environmental obligations and shutdown costs 0 0 0 0  
Net gain on sales of assets 0 0 0 0  
Operating income 322 441 755 684  
Interest expense, net 0 0 0 0  
Provision for (benefit from) income taxes 0 0 0 0  
Total assets 5,338 5,288 5,338 5,288  
Capital expenditures 83 47 140 63  
Other Individually Immaterial Operating Segments | Operating Segments | South America          
Segment Reporting Information [Line Items]          
Revenues 180 188 340 363  
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (Deprecated 2019-01-31) (177) (106) (289) (209)  
Cost, Depreciation, Amortization and Depletion 11 12 21 24  
Metals inventory adjustments 2   2 0  
Selling, general and administrative expenses 0 0 0 0  
Mining exploration and research expenses 0 0 0 0  
Environmental obligations and shutdown costs 0 0 0 0  
Net gain on sales of assets 0 0 0 0  
Operating income (10) 70 28 130  
Interest expense, net 0 0 0 0  
Provision for (benefit from) income taxes (7) 17 7 38  
Total assets 1,843 1,795 1,843 1,795  
Capital expenditures 33 3 56 4  
Other Individually Immaterial Operating Segments | Intersegment | North America          
Segment Reporting Information [Line Items]          
Revenues 1,078 1,021 2,173 1,763  
Other Individually Immaterial Operating Segments | Intersegment | South America          
Segment Reporting Information [Line Items]          
Revenues 0 0 0 0  
Cerro Verde | Operating Segments | South America          
Segment Reporting Information [Line Items]          
Revenues 702 825 1,808 1,742  
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (Deprecated 2019-01-31) (565) (494) (1,123) (930)  
Cost, Depreciation, Amortization and Depletion 91 82 178 171  
Metals inventory adjustments 9   9 0  
Selling, general and administrative expenses (2) (2) (4) (4)  
Mining exploration and research expenses 0 0 0 0  
Environmental obligations and shutdown costs 0 0 0 0  
Net gain on sales of assets 0 0 0 0  
Operating income 169 367 736 802  
Interest expense, net 4 12 7 25  
Provision for (benefit from) income taxes 68 145 295 318  
Total assets 8,379 8,795 8,379 8,795  
Capital expenditures 35 23 68 43  
Labor and Related Expense   69   69  
Cerro Verde | Intersegment | South America          
Segment Reporting Information [Line Items]          
Revenues 134 120 242 165  
Grasberg Segment          
Segment Reporting Information [Line Items]          
Capital expenditures     759 576  
Grasberg Segment | Operating Segments | Indonesia          
Segment Reporting Information [Line Items]          
Revenues 1,920 1,753 4,246 3,136  
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (Deprecated 2019-01-31) (564) (528) (1,190) (983)  
Cost, Depreciation, Amortization and Depletion 262 247 510 446  
Metals inventory adjustments 0   0 0  
Selling, general and administrative expenses (30) (27) (57) (53)  
Mining exploration and research expenses 0 0 0 0  
Environmental obligations and shutdown costs 0 0 0 0  
Net gain on sales of assets 0 0 0 0  
Operating income 1,122 1,007 2,625 1,762  
Interest expense, net 13 6 15 7  
Provision for (benefit from) income taxes 434 404 1,020 719  
Total assets 20,679 18,135 20,679 18,135  
Capital expenditures 388 286 759 576  
Grasberg Segment | Intersegment | Indonesia          
Segment Reporting Information [Line Items]          
Revenues 58 56 136 108  
Molybdenum          
Segment Reporting Information [Line Items]          
Capital expenditures     9 3  
Molybdenum | Operating Segments          
Segment Reporting Information [Line Items]          
Revenues 0 0 0 0  
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (Deprecated 2019-01-31) (80) (56) (155) (113)  
Cost, Depreciation, Amortization and Depletion 18 17 34 32  
Metals inventory adjustments 0   0 1  
Selling, general and administrative expenses 0 0 0 0  
Mining exploration and research expenses 0 0 0 0  
Environmental obligations and shutdown costs 0 0 0 0  
Net gain on sales of assets 0 0 0 0  
Operating income 46 16 83 13  
Interest expense, net 0 0 0 0  
Provision for (benefit from) income taxes 0 0 0 0  
Total assets 1,702 1,740 1,702 1,740  
Capital expenditures 8 2 9 3  
Molybdenum | Intersegment          
Segment Reporting Information [Line Items]          
Revenues 144 89 272 159  
Rod and Refining Segment | Operating Segments          
Segment Reporting Information [Line Items]          
Revenues 1,753 1,689 3,496 2,998  
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (Deprecated 2019-01-31) (1,765) (1,691) (3,519) (3,007)  
Cost, Depreciation, Amortization and Depletion 1 1 2 2  
Metals inventory adjustments 0   0 0  
Selling, general and administrative expenses 0 0 0 0  
Mining exploration and research expenses 0 0 0 0  
Environmental obligations and shutdown costs 0 0 0 0  
Net gain on sales of assets 0 0 0 0  
Operating income (5) 3 (8) 2  
Interest expense, net 0 0 0 0  
Provision for (benefit from) income taxes 0 0 0 0  
Total assets 300 271 300 271  
Capital expenditures 2 0 4 1  
Rod and Refining Segment | Intersegment          
Segment Reporting Information [Line Items]          
Revenues 8 6 17 13  
Atlantic Copper Smelting and Refining Segment | Operating Segments          
Segment Reporting Information [Line Items]          
Revenues 433 794 1,151 1,481  
Cost of Goods Sold, Excluding Depreciation, Depletion, and Amortization (Deprecated 2019-01-31) (463) (775) (1,185) (1,448)  
Cost, Depreciation, Amortization and Depletion 6 8 12 15  
Metals inventory adjustments 0   0 0  
Selling, general and administrative expenses (5) (5) (13) (12)  
Mining exploration and research expenses 0 0 0 0  
Environmental obligations and shutdown costs 0 0 0 0  
Net gain on sales of assets 0 0 0 0  
Operating income (41) 6 (59) 6  
Interest expense, net 2 2 4 3  
Provision for (benefit from) income taxes 0 0 0 0  
Total assets 1,078 1,117 1,078 1,117  
Capital expenditures 32 7 43 13  
Atlantic Copper Smelting and Refining Segment | Corporate And Eliminations          
Segment Reporting Information [Line Items]          
Cost, Maintenance 40   40    
Atlantic Copper Smelting and Refining Segment | Intersegment          
Segment Reporting Information [Line Items]          
Revenues 0 0 0 0  
Corporate And Eliminations | Intersegment          
Segment Reporting Information [Line Items]          
Revenues $ (2,152) (2,013) (4,281) (3,493)  
Miami smelter | Corporate And Eliminations          
Segment Reporting Information [Line Items]          
Cost, Maintenance   $ 19   87  
Indonesia Smelter          
Segment Reporting Information [Line Items]          
Capital expenditures     $ 344 $ 48