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Business Segments (Tables)
 9 Months Ended
Sep. 30, 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 third quarters and first nine months of 2022 and 2021 follow (in millions):

Three Months EndedNine Months Ended
September 30,September 30,
 2022202120222021
Copper:
Concentrate$2,091 $2,531 $7,476 $6,316 
Cathode1,255 1,463 3,873 4,232 
Rod and other refined copper products755 1,048 2,942 2,565 
Purchased coppera
168 124 342 652 
Gold858 741 2,578 1,856 
Molybdenum304 372 1,059 904 
Other174 210 527 666 
Adjustments to revenues:
Treatment charges(132)(126)(404)(324)
Royalty expenseb
(83)(97)(289)(242)
PT-FI export duties(81)(72)(263)
c
(145)
Revenues from contracts with customers5,309 6,194 17,841 16,480 
Embedded derivativesd
(306)(111)(819)201 
Total consolidated revenues$5,003 $6,083 $17,022 $16,681 
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.Includes a 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 September 30, 2022           
Revenues:            
Unaffiliated customers$18 $74 $92 $666 $215 $881 $1,726 
a
$— $1,436 $604 $264 
b
$5,003 
Intersegment551 805 1,356 83 — 83 72 127 7 5 (1,650)— 
Production and delivery408 736 1,144 579 221 800 663 94 1,450 604 (1,389)3,366 
Depreciation, depletion and amortization
44 56 100 84 14 98 265 18 1 8 18 508 
Metals inventory adjustments
2 1 3 2 20 22 — — — — — 25 
Selling, general and administrative expenses
— 1 1 2 — 2 26 — — 6 63 98 
Mining exploration and research expenses— — — — — — — — — — 38 38 
Environmental obligations and shutdown costs
— 1 1 — — — — — — — 5 6 
Operating income (loss)115 84 199 82 (40)42 844 15 (8)(9)(121)962 
Interest expense, net— 1 1 5 — 5 15 — — 4 115 140 
Provision for (benefit from) income taxes— — — 3 (18)(15)343 — — — (13)315 
Total assets at September 30, 20222,996 5,456 8,452 8,390 1,826 10,216 20,496 1,701 216 1,082 7,764 49,927 
Capital expenditures71 83 154 41 38 79 389 7 2 17 188 
c
836 
Three Months Ended September 30, 2021            
Revenues:            
Unaffiliated customers$16 $64 $80 $979 $149 $1,128 $1,961 
a
$— $1,697 $783 $434 
b
$6,083 
Intersegment711 1,020 1,731 

95 — 95 81 151 7 — (2,065)— 
Production and delivery312 592 904 533 97 630 569 70 1,701 765 (1,630)3,009 
Depreciation, depletion and amortization
40 54 94 101 10 111 280 19 1 7 16 528 
Metals inventory adjustments
13 — 13 — — — — — — — 1 14 
Selling, general and administrative expenses
— 1 1 2 — 2 28 — — 5 66 102 
Mining exploration and research expenses— 1 1 — — — — — — — 14 15 
Environmental obligations and shutdown costs
(1)(1)(2)— — — — — — — 15 13 
Net gain on sales of assets— — — — — — — — — — (60)
d
(60)
Operating income (loss)363 437 800 438 42 480 1,165 62 2 6 (53)2,462 
Interest expense, net— 1 1 6 — 6 1 — — 1 129 138 
Provision for (benefit from) income taxes— — — 197 24 221 382 
e
— — (1)26 628 
Total assets at September 30, 20212,586 5,244 7,830 8,554 1,843 10,397 18,592 1,726 278 1,067 7,027 46,917 
Capital expenditures42 74 116 41 6 47 328 1 1 5 43 
c
541 
a.Includes PT-FI's sales to PT Smelting totaling $572 million in third-quarter 2022 and $795 million in third-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 precious metals refinery (collectively, the Indonesia smelter projects).
d.Represents the gain on the sale of FCX’s remaining cobalt business located in Kokkola, Finland (Freeport Cobalt).
e.Includes net tax benefits of $69 million associated with the release of a portion of the valuation allowances recorded against PT RTI NOLs.
(In millions)     
AtlanticCorporate,
North America Copper MinesSouth America MiningCopperOther
CerroIndonesiaMolybdenumRod &Smelting& Elimi-FCX
MorenciOtherTotalVerdeOtherTotalMiningMinesRefining& RefiningnationsTotal
Nine Months Ended September 30, 2022           
Revenues:            
Unaffiliated customers$125 $159 $284 $2,474 $555 $3,029 $5,972 
a
$— $4,932 $1,755 $1,050 
b
$17,022 
Intersegment1,992 2,978 4,970 325 — 325 208 399 24 5 (5,931)— 
Production and delivery1,168 2,111 3,279 1,702 510 2,212 1,853 249 4,969 1,789 
c
(4,832)9,519 
Depreciation, depletion and amortization132 175 307 262 35 297 775 52 3 20 50 1,504 
Metals inventory adjustments2 8 10 11 22 33 — — — — — 43 
Selling, general and administrative expenses1 2 3 6 — 6 83 — — 19 202 313 
Mining exploration and research expenses— 1 1 — — — — — — — 86 87 
Environmental obligations and shutdown costs(13)1 (12)— — — — — — — 63 51 
Net gain on sales of assets— — — — — — — — — — (2)(2)
Operating income (loss)827 839 1,666 818 (12)806 3,469 98 (16)(68)(448)5,507 
Interest expense, net— 1 1 12 — 12 30 — — 8 372 423 
Provision for (benefit from) income taxes— — — 298 (11)287 1,363 — — — 60 1,710 
Capital expenditures207 223 430 109 94 203 1,148 16 6 60 559 
d
2,422 
Nine Months Ended September 30, 2021           
Revenues:            
Unaffiliated customers$77 $147 $224 $2,721 $512 $3,233 $5,097 
a
$— $4,695 $2,264 $1,168 
b
$16,681 
Intersegment1,996 2,783 4,779 

260 — 260 189 310 20 — (5,558)— 
Production and delivery932 1,646 2,578 1,463 
e
306 1,769 1,552 183 4,708 2,213 (4,141)
c
8,862 
Depreciation, depletion and amortization114 161 275 272 34 306 726 51 3 22 47 1,430 
Metals inventory adjustments13 — 13 — — — — 1 — — 1 15 
Selling, general and administrative expenses1 2 3 6 — 6 81 — — 17 182 289 
Mining exploration and research expenses— 1 1 — — — — — — — 35 36 
Environmental obligations and shutdown costs— (1)(1)— — — — — — — 52 51 
Net gain on sales of assets— — — — — — — — — — (63)
f
(63)
Operating income (loss)1,013 1,121 2,134 1,240 172 1,412 2,927 75 4 12 (503)6,061 
Interest expense, net— 1 1 31 — 31 8 — — 4 387 431 
Provision for (benefit from) income taxes— — — 515 62 577 1,101 
g
— — (1)(3)1,674 
Capital expenditures74 137 211 84 10 94 904 4 2 18 111 
d
1,344 
a.Includes PT-FI's sales to PT Smelting totaling $2.3 billion for both the first nine months of 2022 and 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 charges associated with major maintenance turnarounds totaling $41 million at Atlantic Copper in 2022 and $87 million at the Miami smelter in 2021.
d.Primarily includes capital expenditures for the Indonesia smelter projects.
e.Includes nonrecurring charges totaling $74 million associated with labor-related costs at Cerro Verde.
f.Includes a $60 million gain on the sale of Freeport Cobalt.
g.Includes net tax benefits of $69 million associated with the release of the valuation allowances recorded against PT RTI NOLs.