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Inventories, Including Long-Term Mill and Leach Stockpiles (Unaudited) | 9 Months Ended
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Sep. 30, 2016
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 (in millions):
| September 30, 2016 |  | December 31, 2015 |
Current inventories: |  |  |  |
Total materials and supplies, net a | $ | 1,348 |  |  | $ | 1,594 |  |
Mill stockpiles | $ | 172 |  |  | $ | 137 |  |
Leach stockpiles | 1,140 |  |  | 1,402 |  |
Total current mill and leach stockpiles | $ | 1,312 |  |  | $ | 1,539 |  |
Raw materials (primarily concentrate) | $ | 209 |  |  | $ | 220 |  |
Work-in-process | 94 |  |  | 108 |  |
Finished goods | 722 |  |  | 743 |  |
Total product inventories | $ | 1,025 |  |  | $ | 1,071 |  |
Long-term inventories: |  |  |  |
Mill stockpiles | $ | 580 |  |  | $ | 480 |  |
Leach stockpiles | 1,143 |  |  | 1,183 |  |
Total long-term mill and leach stockpiles b | $ | 1,723 |  |  | $ | 1,663 |  |
a. | Materials and supplies inventory was net of obsolescence reserves totaling $31 million at September 30, 2016, and $26 million at December 31, 2015.
b. | Estimated metals in stockpiles not expected to be recovered within the next 12 months.
FCX recorded charges for adjustments to metals inventory carrying values of $20 million in third-quarter 2016 and $27 million for the first nine months of 2016, primarily for molybdenum because of lower molybdenum prices and higher average inventory costs, and $91 million in third-quarter 2015 and $154 million for the first nine months of 2015, primarily because of lower molybdenum and copper prices (refer to Note 10 for 2015 inventory adjustments by business segment).

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- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. + References Reference 1: 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 2: 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 + Details
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