v3.26.3
Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 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 EndedNine Months Ended
September 30,September 30,
2026202520262025
Copper futures and swap contracts:
Unrealized (losses) gains:
Derivative financial instruments$— $(23)$(19)$44 
Hedged item – firm sales commitments— 23 19 (44)
Realized gains:
Matured derivative financial instruments46 1 119 31 
Schedule of Derivative Instruments
A summary of FCX’s embedded derivatives at September 30, 2026, follows:
Open PositionsAverage Price
Per Unit		Maturities Through
ContractMarket
Embedded derivatives in provisional sales contracts:
Copper (millions of pounds)256 $6.34 $6.55 February 2027
Gold (thousands of ounces)2 4,319 4,226 January 2027
Embedded derivatives in provisional purchase contracts:
Copper (millions of pounds)191 6.35 6.55 January 2027
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 EndedNine Months Ended
September 30,September 30,
2026202520262025
Embedded derivatives in provisional sales contracts:a
Copper$116 $82 $232 $232 
Gold and other metals5 71 (19)131 
Copper forward contractsb
(15)(7)(50)(47)
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:
September 30,
2026		December 31, 2025
Balance sheet components:
Cash and cash equivalents$4,335 $3,824 
Restricted cash and cash equivalents, currenta
279 230 
Restricted cash and cash equivalents, long-term - included in other assets145 119 
Total cash and cash equivalents and restricted cash and cash equivalents presented in the consolidated statements of cash flows$4,759 $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).