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FINANCIAL INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Unrealized gains (losses) for derivative financial instruments that are designated and qualify as fair value hedge transactions and for the related hedged item A summary of realized and unrealized (losses) gains recognized in revenues for derivative financial instruments related to commodity contracts that are designated and qualify as fair value hedge transactions, including on the related hedged item for the years ended December 31 follows:
 202420232022
Copper futures and swap contracts:
Unrealized (losses) gains:
Derivative financial instruments$(32)$3 $(11)
Hedged item – firm sales commitments
32 (3)11 
Realized gains (losses):
Matured derivative financial instruments
29 (4)(63)
Schedule of Derivative Instruments
A summary of FCX’s embedded derivatives at December 31, 2024, follows:
OpenAverage Price
Per Unit		Maturities
 PositionsContractMarketThrough
Embedded derivatives in provisional sales contracts:    
Copper (millions of pounds)282 $4.16 $3.96 May 2025
Gold (thousands of ounces)125 2,646 2,625 February 2025
Embedded derivatives in provisional purchase contracts:    
Copper (millions of pounds)74 4.09 3.96 March 2025
Realized and unrealized gains (losses) for derivative financial instruments that do not qualify as hedge transactions A summary of the realized and unrealized gains (losses) recognized in operating income for commodity contracts that do not qualify as hedge transactions, including embedded derivatives, for the years ended December 31 follows:
 202420232022
Embedded derivatives in provisional sales contractsa:
 Copper$117 $97 $(479)
 Gold and other metals169 55 (12)
Copper forward contractsb
1 (6)37 
a.Amounts recorded in revenues.
b.Amounts recorded in cost of sales as production and delivery costs.
Fair Values of Unsettled Derivative Financial Instruments
A summary of the fair values of unsettled commodity derivative financial instruments follows:
 December 31,
 20242023
Commodity Derivative Assets:
Derivatives designated as hedging instruments:  
Copper futures and swap contracts$— $4 
Derivatives not designated as hedging instruments:  
Embedded derivatives in provisional sales/purchase contracts10 76 
Copper forward contracts10 — 
Total derivative assets$20 $80 
Commodity Derivative Liabilities:  
Derivatives designated as hedging instruments:  
Copper futures and swap contracts$28 $— 
Derivatives not designated as hedging instruments:
Embedded derivatives in provisional sales/purchase contracts60 23 
Copper forward contracts1 1 
Total derivative liabilities$89 $24 
Offsetting Liabilities [Table Text Block]
A summary of these net unsettled commodity contracts in the balance sheet follows (there were no offsetting amounts at December 31, 2024 and 2023):
Assets at December 31,Liabilities at December 31,
2024202320242023
Amounts presented in balance sheet:
Commodity contracts:
Embedded derivatives in provisional
sales/purchase contracts$10 $76 $60 $23 
Copper derivatives10 4 29 1 
$20 $80 $89 $24 
Balance sheet classification:
Trade accounts receivable$— $76 $53 $2 
Other current assets10 4 — — 
Accounts payable and accrued liabilities10 — 35 22 
Other liabilities— — 1 — 
$20 $80 $89 $24 
Offsetting Assets [Table Text Block]
A summary of these net unsettled commodity contracts in the balance sheet follows (there were no offsetting amounts at December 31, 2024 and 2023):
Assets at December 31,Liabilities at December 31,
2024202320242023
Amounts presented in balance sheet:
Commodity contracts:
Embedded derivatives in provisional
sales/purchase contracts$10 $76 $60 $23 
Copper derivatives10 4 29 1 
$20 $80 $89 $24 
Balance sheet classification:
Trade accounts receivable$— $76 $53 $2 
Other current assets10 4 — — 
Accounts payable and accrued liabilities10 — 35 22 
Other liabilities— — 1 — 
$20 $80 $89 $24 
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] The following table provides a reconciliation of total cash, cash equivalents and restricted cash and cash equivalents presented in the consolidated statements of cash flows:
December 31,
20242023
Balance sheet components:
Cash and cash equivalentsa
$3,923 $4,758 
Restricted cash and cash equivalents, currentb
888 1,208 
Restricted cash and cash equivalents, long-term – included in other assets
100 97 
Total cash, cash equivalents and restricted cash and cash equivalents presented in the consolidated statements of cash flows$4,911 $6,063 
a.Includes (i) time deposits of $0.1 billion at December 31, 2024, and $0.3 billion at December 31, 2023, and (ii) cash designated for PT-FI’s new downstream processing facilities totaling $0.2 billion at December 31, 2023.
b.Includes (i) $0.7 billion at December 31, 2024, and $1.1 billion at December 31, 2023, associated with 30% of PT-FI’s export proceeds required to be temporarily deposited in Indonesia banks for 90 days in accordance with a regulation issued by the Indonesia government and (ii) $0.1 billion at December 31, 2024 and 2023, in assurance bonds to support PT-FI’s commitment for its new downstream processing facilities.