v3.26.1
Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2026
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 Ended
March 31,
 20262025
Copper futures and swap contracts:
Unrealized (losses) gains:
Derivative financial instruments$(49)$81 
Hedged item – firm sales commitments49 (81)
Realized gains:  
Matured derivative financial instruments35 20 
Schedule of Derivative Instruments
A summary of FCX’s embedded derivatives at March 31, 2026, follows:
Open PositionsAverage Price
Per Unit		Maturities Through
 ContractMarket
Embedded derivatives in provisional sales contracts:    
Copper (millions of pounds)239 $5.60 $5.57 August 2026
Gold (thousands of ounces)2 4,834 4,607 May 2026
Embedded derivatives in provisional purchase contracts:  
Copper (millions of pounds)100 5.63 5.59 August 2026
Schedule of Derivative Instruments Included in Trading Activities A summary of realized and unrealized (losses) gains recognized in operating income for commodity contracts that do not qualify as hedge transactions, including embedded derivatives, follows:
 Three Months Ended
March 31,
 20262025
Embedded derivatives in provisional sales contracts:a
Copper$(21)$116 
Gold and other metals1 38 
Copper forward contractsb
11 (38)
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:
March 31,
2026		December 31, 2025
Balance sheet components:
Cash and cash equivalents$3,737 $3,824 
Restricted cash and cash equivalents, currenta
280 230 
Restricted cash and cash equivalents, long-term - included in other assets132 119 
Total cash and cash equivalents and restricted cash and cash equivalents presented in the consolidated statements of cash flows$4,149 $4,173 
a.Reflects cash designated for talc-related litigation in accordance with a legal settlement (refer to Note 10 of FCX’s 2025 Form 10-K for further discussion).