PROPERTY, PLANT, EQUIPMENT AND MINING DEVELOPMENT COSTS, NET

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment, Net [Abstract]

Property, Plant, Equipment and Mining Development Costs, Net

PROPERTY, PLANT, EQUIPMENT AND MINING DEVELOPMENT COSTS, NET

The components of net property, plant, equipment and mining development costs follow:



	December 31,
	2014			2013
Proven and probable mineral reserves	$	4,651		$	4,651
VBPP	1,042			1,044
Mining development and other	4,712			4,335
Buildings and infrastructure	5,100			4,334
Machinery and equipment	11,251			10,379
Mobile equipment	3,926			3,903
Construction in progress	6,802			5,603
Property, plant, equipment and mining development costs	37,484			34,249
Accumulated depreciation, depletion and amortization	(11,264		)	(10,207		)
Property, plant, equipment and mining development costs, net	$	26,220		$	24,042

FCX recorded $2.2 billion for VBPP in connection with the FMC acquisition in 2007 and transferred $2 million to proven and probable mineral reserves during 2014, $22 million during 2013 and $762 million prior to 2013. Cumulative impairments of VBPP total $482 million, which were primarily recorded in 2008.

Capitalized interest, which primarily related to FCX's mining operations' capital projects, totaled $148 million in 2014, $105 million in 2013 and $81 million in 2012.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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