BUSINESS SEGMENTS INFORMATION (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Revenues by product

FCX’s revenues attributable to the products it sold for the years ended December 31 follow:

	2022			2021		2020
Copper:
Concentrate	$	9,650		$	8,705	$	4,294
Cathode	5,134			5,900		4,204
Rod and other refined copper products	3,699			3,369		2,052
Purchased coppera	481			757		821
Gold	3,397			2,580		1,702
Molybdenum	1,416			1,283		848
Otherb	688			821		592
Adjustments to revenues:
Treatment charges	(503)			(445)		(362)
Royalty expensec	(366)			(330)		(165)
PT-FI export duties	(325)		d	(218)		(92)
Revenues from contracts with customers	23,271			22,422		13,894
Embedded derivativese	(491)			423		304
Total consolidated revenues	$	22,780		$	22,845	$	14,198

a.FCX purchases copper cathode primarily for processing by its Rod & Refining operations.

b.Primarily includes revenues associated with silver and, prior to 2022, cobalt.

c.Reflects royalties on sales from PT-FI and Cerro Verde that will vary with the volume of metal sold and prices.

d.Includes a charge of $18 million associated with an adjustment to prior-period export duties.

e.Refer to Note 14 for discussion of embedded derivatives related to FCX’s provisionally priced concentrate and cathode sales contracts.

Long-lived assets by geographic area

Information concerning financial data by geographic area follows:

	December 31,
	2022		2021
Long-lived assets:a
Indonesia	$	18,121	$	16,288
U.S.	8,801		8,292
Peru	6,727		6,827
Chile	1,103		1,110
Other	309		261
Total	$	35,061	$	32,778

a.Excludes deferred tax assets and intangible assets

Revenues by geographic area of customer

	Years Ended December 31,
	2022		2021		2020
Revenues:a
U.S.	$	7,339	$	7,168	$	5,248
Indonesia	3,026		3,132		1,760
Switzerland	2,740		3,682		2,032
Japan	2,462		2,372		1,205
Singapore	1,492		156		191
Spain	1,174		1,495		785
China	929		1,044		692
Germany	632		469		248
Chile	383		343		221
United Kingdom	355		659		491
India	330		207		152
South Korea	302		270		89
Philippines	249		264		34
Other	1,367		1,584		1,050
Total	$	22,780	$	22,845	$	14,198

a.Revenues are attributed to countries based on the location of the customer.

Schedule of financial information by business segment

Financial Information by Business Segment

	North America Copper Mines						South America Mining
																				Atlantic			Corporate,
																				Copper			Other
							Cerro						Indonesia			Molybdenum		Rod &		Smelting			& Elimi-			FCX
	Morenci		Other		Total		Verde		Other		Total		Mining			Mines		Refining		& Refining			nations			Total
Year Ended December 31, 2022
Revenues:
Unaffiliated customers	$	175	$	253	$	428	$	3,444	$	768	$	4,212	$	8,028	a	$	—	$	6,281	$	2,439		$	1,392	b	$	22,780
Intersegment	2,514		3,768		6,282		506		—		506		398			565		31		4			(7,786)			—
Production and delivery	1,542		2,819		4,361		2,359		702		3,061		2,684		c	359		6,330		2,452		d	(6,206)			13,041
Depreciation, depletion and amortization	177		233		410		357		51		408		1,025			74		5		27			70			2,019
Metals inventory adjustments	8		8		16		10		3		13		—			—		—		—			—			29
Selling, general and administrative expenses	2		3		5		8		—		8		117			—		—		25			265			420
Mining exploration and research expenses	—		1		1		—		—		—		—			—		—		—			114			115
Environmental obligations and shutdown costs	(5)		1		(4)		—		—		—		—			—		—		—			125			121
Net gain on sales of assets	—		—		—		—		—		—		—			—		—		—			(2)			(2)
Operating income (loss)	965		956		1,921		1,216		12		1,228		4,600			132		(23)		(61)			(760)			7,037
Interest expense, net	1		1		2		15		—		15		40			—		—		15			488			560
Provision for (benefit from) income taxes	—		—		—		461		(8)		453		1,820			—		—		(1)			(5)			2,267
Total assets at December 31, 2022	3,052		5,552		8,604		8,398		1,873		10,271		20,639			1,697		183		1,262			8,437			51,093
Capital expenditures	263		334		597		164		140		304		1,575			33		9		76			875		e	3,469

a.Includes sales to PT Smelting totaling $3.0 billion.

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 totaling $116 million associated with an unfavorable ARO change. Refer to Note 12 for further discussion.

d.Includes maintenance charges and idle facility costs associated with major maintenance turnarounds totaling $41 million.

e.Primarily includes capital expenditures for the Indonesia smelter projects.