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Inventories, Including Long-Term Mill and Leach Stockpiles (Unaudited) | 3 Months Ended
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Mar. 31, 2019
Inventory Disclosure [Abstract] |
Inventories, Including Long-Term Mill and Leach Stockpiles | INVENTORIES, INCLUDING LONG-TERM MILL AND LEACH STOCKPILES The components of inventories follow (in millions):
| March 31, 2019 |  | December 31, 2018 |
Current inventories: |  |  |  |
Total materials and supplies, net a | $ | 1,595 |  |  | $ | 1,528 |  |
Mill stockpiles | $ | 247 |  |  | $ | 282 |  |
Leach stockpiles | 1,127 |  |  | 1,171 |  |
Total current mill and leach stockpiles | $ | 1,374 |  |  | $ | 1,453 |  |
Raw materials (primarily concentrate) | $ | 273 |  |  | $ | 260 |  |
Work-in-process | 137 |  |  | 192 |  |
Finished goods | 1,082 |  |  | 1,326 |  |
Total product | $ | 1,492 |  |  | $ | 1,778 |  |
Long-term inventories: |  |  |  |
Mill stockpiles | $ | 265 |  |  | $ | 265 |  |
Leach stockpiles | 1,078 |  |  | 1,049 |  |
Total long-term mill and leach stockpiles b | $ | 1,343 |  |  | $ | 1,314 |  |
a. | Materials and supplies inventory was net of obsolescence reserves totaling $23 million at March 31, 2019, and $24 million at December 31, 2018.
b. | Estimated metals in stockpiles not expected to be recovered within the next 12 months.
FCX recorded charges for adjustments to cobalt metals inventory carrying values of $57 million in first-quarter 2019 because of lower cobalt prices.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -URI http://asc.fasb.org/topic&trid=2126998 + Details
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