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INVENTORIES, INCLUDING LONG-TERM MILL AND LEACH STOCKPILES (Tables) | 12 Months Ended
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Dec. 31, 2014
Inventories, Including Long Term Mill and Leach Stockpiles [Abstract] |
Components of Inventories | 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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