CONSOLIDATED BALANCE SHEETS (USD $) In Millions, unless otherwise specified	Dec. 31, 2011		Dec. 31, 2010
Current assets:
Cash and cash equivalents	$ 4,822		$ 3,738
Trade accounts receivable	892		2,132
Other accounts receivable	250		293
Inventories:
Materials and supplies, net	1,354	[1]	1,169	[1]
Product	1,226		1,316
Mill and leach stockpiles	1,289		949
Other current assets	214		254
Total current assets	10,047		9,851
Property, plant, equipment and development costs, net	18,449		16,785
Long-term mill and leach stockpiles	1,686	[2]	1,425	[2]
Long-term receivables	675		200
Intangible assets, net	325		328
Other assets	888		797
Total assets	32,070		29,386
Current liabilities:
Accounts payable and accrued liabilities	2,252		2,441
Dividends payable	240		240
Current portion of reclamation and environmental obligations	236		207
Accrued income taxes	163		648
Rio Tinto share of joint venture cash flows	45		132
Current portion of debt	4		95
Total current liabilities	2,940		3,763
Long-term debt, less current portion	3,533		4,660
Deferred income taxes	3,255		2,873
Reclamation and environmental obligations, less current portion	2,138		2,071
Other liabilities	1,651		1,459
Total liabilities	13,517		14,826
FCX stockholders' equity:
Common stock, par value $ 0.10, 1,071 shares and 1,067 shares issued, respectively	107		107
Capital in excess of par value	19,007		18,751
Retained earnings (accumulated deficit)	546		(2,590)
Accumulated other comprehensive loss	(465)		(323)
Common stock held in treasury - 123 shares and 122 shares, respectively, at cost	(3,553)		(3,441)
Total FCX stockholders' equity	15,642		12,504
Noncontrolling interests	2,911		2,056
Total equity	18,553		14,560
Total liabilities and equity	$ 32,070		$ 29,386

[1] Materials and supplies inventory is net of obsolescence reserves totaling $26 million at December 31, 2011 and 2010.

[2] Metals in stockpiles not expected to be recovered within the next 12 months.