XML 126 R14.htm IDEA: XBRL DOCUMENT v3.22.0.1
OTHER ASSETS
 12 Months Ended
Dec. 31, 2021
Other Assets [Abstract]  
Other Assets Disclosure OTHER ASSETS
The components of other assets follow:
 December 31,
 20212020
Intangible assetsa
$412 $401 
Legally restricted fundsb
209 213 
Disputed tax assessments:c
Cerro Verde237 190 
PT-FI57 143 
Long-term receivable for taxesd
84 106 
Investments:  
Assurance bonde
132 148 
Fixed income, equity securities and other74 70 
PT Smeltingf
26 77 
Contingent consideration associated with sales of assetsg
70 96 
Loans to PT Smeltingh
36 — 
Long-term employee receivables20 19 
Other103 97 
Total other assets$1,460 $1,560 
a.Indefinite-lived intangible assets totaled $215 million at December 31, 2021 and 2020. Accumulated amortization of definite-lived intangible assets totaled $35 million at December 31, 2021, and $32 million at December 31, 2020.
b.Includes $208 million at December 31, 2021, and $212 million at December 31, 2020, held in trusts for AROs related to properties in New Mexico (refer to Note 12 for further discussion).
c.Refer to Note 12 for further discussion.
d.Includes tax overpayments and refunds not expected to be realized within the next 12 months.
e.Relates to PT-FI’s commitment for the development of a greenfield smelter in Indonesia (refer to Note 13 for further discussion).
f.PT-FI’s ownership in PT Smelting is recorded using the equity method. Amounts were reduced by unrecognized profits on sales from PT-FI to PT Smelting totaling $126 million at December 31, 2021, and $39 million at December 31, 2020. Trade accounts receivable from PT Smelting totaled $411 million at December 31, 2021, and $265 million at December 31, 2020.
g.Refer to Note 15 for further discussion.
h.Refer to Note 2 for further discussion.