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INVENTORIES:

12 Months Ended

Dec. 31, 2012

NOTE 4-INVENTORIES:

	As of December 31,
(in millions)	2012		2011
Inventory, current:
Metals at lower of average cost or market:
Finished goods	$	101.1	$	93.3
Work-in-process	297.4		290.3
Supplies at average cost	284.2		252.4
Total current inventory	$	682.7	$	636.0

Inventory, long-term:
Long-term leach stockpiles	$	262.8	$	128.8

Total leaching costs capitalized as long-term inventory of leachable material amounted to $225.5 million and $168.0 million in 2012 and 2011, respectively. Long-term leaching inventories recognized as cost of sales amounted to $68.5 million, $49.2 million and $41.5 million in 2012, 2011 and 2010, respectively.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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