XML 25 R9.htm IDEA: XBRL DOCUMENT
v3.23.2

Inventories, Including Long-Term Mill and Leach Stockpiles | 6 Months Ended
--- | ---
Jun. 30, 2023
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):
| June 30, 2023 |  | December 31, 2022 |
Current inventories: |  |  |  |
Total materials and supplies, net a | $ | 2,098 |  |  | $ | 1,964 |  |
Mill stockpiles | $ | 224 |  |  | $ | 216 |  |
Leach stockpiles | 1,274 |  |  | 1,167 |  |
Total current mill and leach stockpiles | $ | 1,498 |  |  | $ | 1,383 |  |
Raw materials (primarily copper concentrate) | $ | 382 |  |  | $ | 443 |  |
Work-in-process | 189 |  |  | 221 |  |
Finished goods b | 1,643 |  |  | 1,169 |  |
Total product | $ | 2,214 |  |  | $ | 1,833 |  |
Long-term inventories: |  |  |  |
Mill stockpiles | $ | 216 |  |  | $ | 199 |  |
Leach stockpiles | 1,025 |  |  | 1,053 |  |
Total long-term mill and leach stockpiles c | $ | 1,241 |  |  | $ | 1,252 |  |
a.Materials and supplies inventory was net of obsolescence reserves totaling $33 million at June 30, 2023, and $39 million at December 31, 2022. b.The increase in finished goods inventory at June 30, 2023, was associated with the change in PT-FI's commercial arrangement with PT Smelting (PT-FI’s 39.5% owned copper smelter and refinery in Gresik, Indonesia) from a copper concentrate sales agreement to a tolling arrangement beginning on January 1, 2023. At June 30, 2023, approximately 85 million pounds of copper and 40 thousand ounces of gold from PT-FI’s production was deferred in inventory and will be sold as refined metal in future periods. c.Estimated metals in stockpiles not expected to be recovered within the next 12 months.

X
- References No definition available. + Details
Name: | us-gaap_InventoryDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -URI https://asc.fasb.org/topic&trid=2126998 + Details
Name: | us-gaap_InventoryDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration