FAIR VALUE MEASUREMENTS

6 Months Ended

Jun. 30, 2019

Disclosure of fair value measurement [text block]

FAIR VALUE MEASUREMENTS

A) Assets and Liabilities Measured at Fair Value on a Recurring Basis



As at June 30, 2019	Quoted prices in active markets for identical assets		Significant other observable inputs		Significant unobservable inputs		Aggregate fair value
As at June 30, 2019	(Level 1)		(Level 2)		(Level 3)
Cash and equivalents		$2,153		$—		$—		$2,153
Other investments	221		—		—		221
Derivatives	—		2		—		2
Receivables from provisional copper and gold sales	—		45		—		45
		$2,374		$47		$—		$2,421

B) Fair Values of Financial Assets and Liabilities



	As at June 30, 2019				As at December 31, 2018
	Carrying amount		Estimated fair value		Carrying amount		Estimated fair value
Financial assets
Other assets¹		$524		$524		$559		$559
Other investments²	221		221		209		209
Derivative assets	2		2		3		3
		$747		$747		$771		$771
Financial liabilities
Debt³		$5,807		$6,925		$5,738		$6,183
Derivative liabilities	—		—		3		3
Other liabilities	519		519		297		297
		$6,326		$7,444		$6,038		$6,483


¹	Includes restricted cash and amounts due from our partners.


²	Recorded at fair value. Quoted market prices are used to determine fair value.


³	Debt is generally recorded at amortized cost. The fair value of debt is primarily determined using quoted market prices. Balance includes both current and long-term portions of debt.

We do not offset financial assets with financial liabilities.

The Company’s valuation techniques were presented in Note 26 of the 2018 Annual Financial Statements and have been consistently applied in these interim financial statements.