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FAIR VALUE MEASUREMENTS (Tables)
 12 Months Ended
Dec. 31, 2021
Fair value measurements [Abstract]  
Disclosure of fair value measurement of liabilities
Fair Value Measurements        
At December 31, 2021 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 $5,280  $—  $—  $5,280 
Other investments1
 414  —  —  414 
Derivatives —  53  —  53 
Receivables from provisional copper and gold sales —  242  —  242 
$5,694  $295  $—  $5,989 
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 
1   Includes equity investments in other mining companies.
   At December 31, 2021 At December 31, 2020
Carrying amount Estimated fair value Carrying amount Estimated fair value
Financial assets
Other assets1
 $382  $382  $571  $571 
Other investments2
 414  414  428  428 
  Derivative assets3
 53  53  40  40 
  $849  $849  $1,039  $1,039 
Financial liabilities
Debt4
 $5,150  $6,928  $5,155  $7,288 
  Other liabilities 473  473  382  382 
$5,623  $7,401  $5,537  $7,670 
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 and Lagunas Norte.
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, 2021 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 $5,280  $—  $—  $5,280 
Other investments1
 414  —  —  414 
Derivatives —  53  —  53 
Receivables from provisional copper and gold sales —  242  —  242 
$5,694  $295  $—  $5,989 
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 
1   Includes equity investments in other mining companies.
   At December 31, 2021 At December 31, 2020
Carrying amount Estimated fair value Carrying amount Estimated fair value
Financial assets
Other assets1
 $382  $382  $571  $571 
Other investments2
 414  414  428  428 
  Derivative assets3
 53  53  40  40 
  $849  $849  $1,039  $1,039 
Financial liabilities
Debt4
 $5,150  $6,928  $5,155  $7,288 
  Other liabilities 473  473  382  382 
$5,623  $7,401  $5,537  $7,670 
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 and Lagunas Norte.
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.