v3.25.2
Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments, Gain (Loss) 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 follows:
 Three Months EndedSix Months Ended
June 30,June 30,
 2025202420252024
Copper futures and swap contracts:  
Unrealized (losses) gains:  
Derivative financial instruments$(14)$1 $67 $10 
Hedged item – firm sales commitments14 (1)(67)(10)
Realized gains:  
Matured derivative financial instruments10 28 30 29 
Schedule of Derivative Instruments
A summary of FCX’s embedded derivatives at June 30, 2025, follows:
Open PositionsAverage Price
Per Unit		Maturities Through
 ContractMarket
Embedded derivatives in provisional sales contracts:    
Copper (millions of pounds)440 $4.34 $4.49 December 2025
Gold (thousands of ounces)81 3,334 3,297 August 2025
Embedded derivatives in provisional purchase contracts:  
Copper (millions of pounds)107 4.36 4.49 October 2025
Schedule of Derivative Instruments Included in Trading Activities A summary of realized and unrealized gains (losses) recognized in operating income for commodity contracts that do not qualify as hedge transactions, including embedded derivatives, follows:
 Three Months EndedSix Months Ended
June 30,June 30,
 2025202420252024
Embedded derivatives in provisional sales contracts:a
Copper$34 $181 $150 $247 
Gold and other metals22 45 60 89 
Copper forward contractsb
(2)(17)(40)(26)
a.Amounts recorded in revenues. 
b.Amounts recorded in cost of sales as production and delivery costs.
Schedule of Cash Flow, Supplemental Disclosures The following table provides a reconciliation of total cash and cash equivalents and restricted cash and cash equivalents presented in the consolidated statements of cash flows:
June 30,
2025		December 31, 2024
Balance sheet components:
Cash and cash equivalents$4,490 $3,923 
Restricted cash and cash equivalents, current230 
a
888 
b
Restricted cash and cash equivalents, long-term - included in other assets104 100 
Total cash and cash equivalents and restricted cash and cash equivalents presented in the consolidated statements of cash flows$4,824 $4,911 
a.Reflects cash designated for talc-related litigation in accordance with a legal settlement. Refer to Note 7 for further discussion.
b.Included $0.7 billion associated with a portion of PTFI’s export proceeds required to be temporarily deposited in Indonesia banks for 90 days in accordance with a previous Indonesia regulation.