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INVENTORIES, INCLUDING LONG-TERM MILL AND LEACH STOCKPILES | 12 Months Ended
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Dec. 31, 2014
Inventories, Including Long Term Mill and Leach Stockpiles [Abstract] |
Inventories, Including Long-Term Mill And Leach Stockpiles | INVENTORIES, INCLUDING LONG-TERM MILL AND LEACH STOCKPILES The components of inventories follow:
| December 31, |
| 2014 |  | 2013 |
Current inventories: |  |  |  |
Mill stockpiles | $ | 86 |  |  | $ | 91 |  |
Leach stockpiles | 1,828 |  |  | 1,614 |  | a
Total current mill and leach stockpiles | $ | 1,914 |  |  | $ | 1,705 |  |
Total materials and supplies, net b | $ | 1,886 |  |  | $ | 1,730 |  |
Raw materials (primarily concentrates) | $ | 288 |  |  | $ | 238 |  |
Work-in-process | 174 |  |  | 199 |  |
Finished goods | 1,099 |  |  | 1,146 |  |
Total product inventories | $ | 1,561 |  |  | $ | 1,583 |  |
Long-term inventories: |  |  |  |
Mill stockpiles | $ | 360 |  |  | $ | 698 |  |
Leach stockpiles | 1,819 |  |  | 1,688 |  |
Total long-term mill and leach stockpiles c | $ | 2,179 |  |  | $ | 2,386 |  |
a. | Amount is net of a $76 million charge associated with updated mine plans at Morenci that resulted in a loss in recoverable copper in leach stockpiles.
b. | Materials and supplies inventory was net of obsolescence reserves totaling $20 million at December 31, 2014, and $24 million at December 31, 2013.
c. | Estimated metals in stockpiles not expected to be recovered within the next 12 months.

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- 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6361739&loc=d3e7789-107766 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.6) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 6 -Subparagraph a, b, c -Article 5 + Details
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