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INVENTORIES:
12 Months Ended
Dec. 31, 2011
INVENTORIES:  
INVENTORIES:

NOTE 5-INVENTORIES:

 

 

 

As of December 31,

 

(in millions)

 

2011

 

2010

 

Inventory, current:

 

 

 

 

 

Metals at lower of average cost or market:

 

 

 

 

 

Finished goods

 

$

93.3

 

$

67.9

 

Work-in-process

 

296.1

 

227.6

 

Supplies at average cost

 

262.5

 

245.5

 

Total current inventory

 

$

651.9

 

$

541.0

 

 

 

 

 

 

 

Inventory, long-term:

 

 

 

 

 

Long-term leach stockpiles

 

$

123.0

 

$

29.7

 

 

As of December 31, 2011 total leaching costs capitalized as long-term inventory of leachable material amounted to $168.0 million. There was no capitalization during 2010.  Long-term leaching inventories recognized as cost of sales amounted to $49.2 million and $41.5 million in 2011 and 2010, respectively.