v3.26.1
Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments, Gain (Loss) A summary of realized and unrealized gains (losses) 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,
2026202520262025
Copper futures and swap contracts:
Unrealized gains (losses):
Derivative financial instruments$30 $(14)$(19)$67 
Hedged item – firm sales commitments(30)14 19 (67)
Realized gains:
Matured derivative financial instruments38 10 73 30 
Schedule of Derivative Instruments
A summary of FCX’s embedded derivatives at June 30, 2026, follows:
Open PositionsAverage Price
Per Unit		Maturities Through
ContractMarket
Embedded derivatives in provisional sales contracts:
Copper (millions of pounds)194 $6.00 $6.07 November 2026
Gold (thousands of ounces)5 4,588 4,065 October 2026
Embedded derivatives in provisional purchase contracts:
Copper (millions of pounds)143 6.00 6.07 November 2026
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,
2026202520262025
Embedded derivatives in provisional sales contracts:a
Copper$138 $34 $117 $150 
Gold and other metals(26)22 (25)60 
Copper forward contractsb
(46)(2)(35)(40)
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,
2026		December 31, 2025
Balance sheet components:
Cash and cash equivalents$4,080 $3,824 
Restricted cash and cash equivalents, currenta
278 230 
Restricted cash and cash equivalents, long-term - included in other assets133 119 
Total cash and cash equivalents and restricted cash and cash equivalents presented in the consolidated statements of cash flows$4,491 $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).