COMMITMENTS AND GUARANTEES Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Assets And Liabilities, Lessee [Table Text Block]

The components of FCX’s leases presented in the consolidated balance sheets for the years ended December 31 follow:

	December 31,
	2023		2022
Lease right-of-use assets (included in property, plant, equipment and mine development costs, net)	$	448	$	342
Short-term lease liabilities (included in accounts payable and accrued liabilities)	$	84	$	38
Long-term lease liabilities (included in other liabilities)	347		294
Total lease liabilitiesa	$	431	$	332

a.Includes a land lease by PT-FI for the Manyar smelter totaling $130 million at December 31, 2023 and 2022. This is FCX’s only significant finance lease.

Lease, Cost [Table Text Block]

Operating lease costs, primarily included in production and delivery expense in the consolidated statements of income, for the years ended December 31 follow:

	2023			2022		2021
Operating leases	$	48		$	46	$	42
Variable and short-term leases	126		a	84		62
Total operating lease costs	$	174		$	130	$	104

a.Includes $30 million related to a variable lease component of PT-FI’s tolling arrangement with PT Smelting. Refer to Note 3 for additional discussion of PT-FI’s commercial arrangement with PT Smelting.

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

The future minimum payments for leases presented in the consolidated balance sheet at December 31, 2023, follow:

2024	$	105
2025	52
2026	44
2027	38
2028	29
Thereafter	299
Total payments	567
Less amount representing interest	(136)
Present value of net minimum lease payments	431
Less current portion	(84)
Long-term portion	$	347