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OTHER ASSETS (Tables) | 12 Months Ended
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Dec. 31, 2020
Other Assets [Abstract] |
Schedule of Other Assets | The components of other assets follow:
| December 31,
| 2020 |  | 2019
Disputed tax assessments:a |  |  |
PT-FI | $ | 143 |  |  | $ | 178 |
Cerro Verde | 190 |  |  | 187 |
Long-term receivable for taxes b | 106 |  |  | 290 |
Intangible assets c | 401 |  |  | 402 |
Investments: |  |  |
Assurance bond d | 148 |  |  | 157 |
PT Smelting e | 77 |  |  | 80 |
Fixed income, equity securities and other | 70 |  |  | 66 |
Legally restricted funds f | 213 |  |  | 196 |
Contingent consideration associated with sales of assets g | 96 |  |  | 115 |
Long-term employee receivables | 19 |  |  | 22 |
Timok transaction receivable (refer to Note 2) | 12 |  |  | 58 |
Other | 85 |  |  | 134 |
Total other assets | $ | 1,560 |  |  | $ | 1,885 |
a.Refer to Note 12 for further discussion. b.Includes tax overpayments and refunds not expected to be realized within the next 12 months (refer to Note 11). c.Indefinite-lived intangible assets totaled $215 million at both December 31, 2020, and December 31, 2019. Accumulated amortization of definite-lived intangible assets totaled $32 million at December 31, 2020, and $54 million at December 31, 2019. d.Relates to PT-FI’s commitment for the development of a new smelter in Indonesia (refer to Note 13 for further discussion). e.PT-FI’s 25 percent ownership in PT Smelting (smelter and refinery in Gresik, Indonesia) is recorded using the equity method. Amounts were reduced by unrecognized profits on sales from PT-FI to PT Smelting totaling $39 million at December 31, 2020, and $29 million at December 31, 2019. Trade accounts receivable from PT Smelting totaled $265 million at December 31, 2020, and $261 million at December 31, 2019. f.Includes $212 million at December 31, 2020, and $196 million at December 31, 2019, held in trusts for AROs related to properties in New Mexico (refer to Note 12 for further discussion). g.Refer to Note 15 for further discussion.

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- Definition Tabular disclosure of the carrying amounts of other assets. This disclosure includes other current assets and other noncurrent assets. + References No definition available. + Details
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