OTHER ASSETS (Tables)

12 Months Ended

Dec. 31, 2019

Other Assets [Abstract]

Schedule of Other Assets

The components of other assets follow:

	December 31,
	2019		2018
Disputed tax assessments:a
PT-FI	$	178	$	493
Cerro Verde	187		183
Long-term receivable for taxesb	290		260
Intangible assetsc	402		398
Investments:
Assurance bondd	157		126
PT Smeltinge	80		125
Fixed income, equity securities and other	66		65
Legally restricted fundsf	196		181
Contingent consideration associated with sales of assetsg	115		189
Timok transaction receivable (refer to Note 2)	58		—
Long-term employee receivables	22		20
Other	134		132
Total other assets	$	1,885	$	2,172

a. Refer to Note 12 for further discussion.

b. Includes tax overpayments and refunds not expected to be realized within the next 12 months (primarily associated with U.S. tax reform, refer to Note 11).

c. Indefinite-lived intangible assets totaled $215 million at December 31, 2019 and 2018. Accumulated amortization of definite-lived intangible assets totaled $54 million at December 31, 2019, and $51 million at December 31, 2018.

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 $29 million at December 31, 2019, and $11 million at December 31, 2018. Trade accounts receivable from PT Smelting totaled $261 million at December 31, 2019, and $176 million at December 31, 2018.

f. Includes $196 million at December 31, 2019, and $180 million at December 31, 2018, 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.