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FAIR VALUE MEASUREMENTS (Tables) | 12 Months Ended
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Dec. 31, 2019
Fair Value Measurements [Abstract] |
Disclosure of fair value measurement of liabilities |
| At December 31, 2019 | At December 31, 2018
| Carrying amount |  | Estimated fair value |  | Carrying amount |  | Estimated fair value |
Financial assets |  |  |  |
Other assets 1 |  | $612 |  |  | $612 |  |  | $559 |  |  | $559 |
Other investments 2 | 258 |  | 258 |  | 209 |  | 209 |
Derivative assets | 1 |  | 1 |  | 3 |  | 3 |
|  | $871 |  |  | $871 |  |  | $771 |  |  | $771 |
Financial liabilities |  |  |  |
Debt 3 |  | $5,536 |  |  | $6,854 |  |  | $5,738 |  |  | $6,183 |
Derivative liabilities | — |  | — |  | 3 |  | 3 |
Other liabilities | 209 |  | 209 |  | 297 |  | 297 |
|  | $5,745 |  |  | $7,063 |  |  | $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 except for obligations that are designated in a fair-value hedge relationship, in which case the carrying amount is adjusted for changes in fair value of the hedging instrument in periods when a hedge relationship exists. The fair value of debt is primarily determined using quoted market prices. Balance includes both current and long-term portions of debt.
Fair Value Measurements |  |  |  |
At December 31, 2019 | Quoted Prices in Active Markets for Identical Assets |  | Significant Other Observable Inputs |  | Significant Unobservable Inputs |  | Aggregate Fair Value |
(Level 1) |  | (Level 2) |  | (Level 3) |
Cash and equivalents |  | $3,314 |  |  | $— |  |  | $— |  |  | $3,314 |
Other investments | 258 |  | — |  | — |  | 258 |
Derivatives | — |  | 1 |  | — |  | 1 |
Receivables from provisional copper and gold sales | — |  | 68 |  | — |  | 68 |
|  | $3,572 |  |  | $69 |  |  | $— |  |  | $3,641 |
Fair Value Measurements |  |  |  |
At December 31, 2018 | Quoted Prices in Active Markets for Identical Assets |  | Significant Other Observable Inputs |  | Significant Unobservable Inputs |  | Aggregate Fair Value |
(Level 1) |  | (Level 2) |  | (Level 3) |
Cash and equivalents |  | $1,571 |  |  | $— |  |  | $— |  |  | $1,571 |
Other investments | 209 |  | — |  | — |  | 209 |
Derivatives | — |  | — |  | — |  | — |
Receivables from provisional copper and gold sales | — |  | 76 |  | — |  | 76 |
|  | $1,780 |  |  | $76 |  |  | $— |  |  | $1,856 |
Disclosure of fair value measurement of assets |
| At December 31, 2019 | At December 31, 2018
| Carrying amount |  | Estimated fair value |  | Carrying amount |  | Estimated fair value |
Financial assets |  |  |  |
Other assets 1 |  | $612 |  |  | $612 |  |  | $559 |  |  | $559 |
Other investments 2 | 258 |  | 258 |  | 209 |  | 209 |
Derivative assets | 1 |  | 1 |  | 3 |  | 3 |
|  | $871 |  |  | $871 |  |  | $771 |  |  | $771 |
Financial liabilities |  |  |  |
Debt 3 |  | $5,536 |  |  | $6,854 |  |  | $5,738 |  |  | $6,183 |
Derivative liabilities | — |  | — |  | 3 |  | 3 |
Other liabilities | 209 |  | 209 |  | 297 |  | 297 |
|  | $5,745 |  |  | $7,063 |  |  | $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 except for obligations that are designated in a fair-value hedge relationship, in which case the carrying amount is adjusted for changes in fair value of the hedging instrument in periods when a hedge relationship exists. The fair value of debt is primarily determined using quoted market prices. Balance includes both current and long-term portions of debt.
Fair Value Measurements |  |  |  |
At December 31, 2019 | Quoted Prices in Active Markets for Identical Assets |  | Significant Other Observable Inputs |  | Significant Unobservable Inputs |  | Aggregate Fair Value |
(Level 1) |  | (Level 2) |  | (Level 3) |
Cash and equivalents |  | $3,314 |  |  | $— |  |  | $— |  |  | $3,314 |
Other investments | 258 |  | — |  | — |  | 258 |
Derivatives | — |  | 1 |  | — |  | 1 |
Receivables from provisional copper and gold sales | — |  | 68 |  | — |  | 68 |
|  | $3,572 |  |  | $69 |  |  | $— |  |  | $3,641 |
Fair Value Measurements |  |  |  |
At December 31, 2018 | Quoted Prices in Active Markets for Identical Assets |  | Significant Other Observable Inputs |  | Significant Unobservable Inputs |  | Aggregate Fair Value |
(Level 1) |  | (Level 2) |  | (Level 3) |
Cash and equivalents |  | $1,571 |  |  | $— |  |  | $— |  |  | $1,571 |
Other investments | 209 |  | — |  | — |  | 209 |
Derivatives | — |  | — |  | — |  | — |
Receivables from provisional copper and gold sales | — |  | 76 |  | — |  | 76 |
|  | $1,780 |  |  | $76 |  |  | $— |  |  | $1,856 |
| Quoted prices in active markets for identical assets |  | Significant other observable inputs |  | Significant unobservable inputs |  | Aggregate fair value |
(Level 1) |  | (Level 2) |  | (Level 3) |
Property, plant and equipment 1 | — |  | — |  | 130 |  | 130 |
1 Property, plant and equipment were written down by $389 million, which was included in earnings in this period.

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