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FAIR VALUE MEASUREMENTS (Tables)
 12 Months Ended
Dec. 31, 2020
Fair Value Measurements [Abstract]  
Disclosure of fair value measurement of liabilities
Fair Value Measurements        
At December 31, 2020 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 $5,188  $—  $—  $5,188 
Other investments1
 428  —  —  428 
Derivatives —  40  —  40 
Receivables from provisional copper and gold sales —  265  —  265 
$5,616  $305  $—  $5,921 
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 investments1
 258  —  —  258 
Derivatives —  1  —  1 
Receivables from provisional copper and gold sales —  68  —  68 
$3,572  $69  $—  $3,641 
1   Includes equity investments in other mining companies.
   At December 31, 2020 At December 31, 2019
Carrying amount Estimated fair value Carrying amount Estimated fair value
Financial assets
Other assets1
 $571  $571  $612  $612 
Other investments2
 428  428  258  258 
  Derivative assets3
 40  40  1  1 
  $1,039  $1,039  $871  $871 
Financial liabilities
Debt4
 $5,155  $7,288  $5,536  $6,854 
  Other liabilities 382  382  209  209 
$5,537  $7,670  $5,745  $7,063 
1Includes restricted cash and amounts due from our partners.
2Includes equity investments in other mining companies. Recorded at fair value. Quoted market prices are used to determine fair value.
3Primarily consists of contingency consideration received as part of the sale of Massawa.
4Debt 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.
Disclosure of fair value measurement of assets
Fair Value Measurements        
At December 31, 2020 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 $5,188  $—  $—  $5,188 
Other investments1
 428  —  —  428 
Derivatives —  40  —  40 
Receivables from provisional copper and gold sales —  265  —  265 
$5,616  $305  $—  $5,921 
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 investments1
 258  —  —  258 
Derivatives —  1  —  1 
Receivables from provisional copper and gold sales —  68  —  68 
$3,572  $69  $—  $3,641 
1   Includes equity investments in other mining companies.
   At December 31, 2020 At December 31, 2019
Carrying amount Estimated fair value Carrying amount Estimated fair value
Financial assets
Other assets1
 $571  $571  $612  $612 
Other investments2
 428  428  258  258 
  Derivative assets3
 40  40  1  1 
  $1,039  $1,039  $871  $871 
Financial liabilities
Debt4
 $5,155  $7,288  $5,536  $6,854 
  Other liabilities 382  382  209  209 
$5,537  $7,670  $5,745  $7,063 
1Includes restricted cash and amounts due from our partners.
2Includes equity investments in other mining companies. Recorded at fair value. Quoted market prices are used to determine fair value.
3Primarily consists of contingency consideration received as part of the sale of Massawa.
4Debt 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.