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Inventories, Including Long-Term Mill and Leach Stockpiles
 3 Months Ended
Mar. 31, 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):
March 31,
2023		December 31, 2022
Current inventories:
Total materials and supplies, neta
$2,056 $1,964 
Mill stockpiles$222 $216 
Leach stockpiles1,218 1,167 
Total current mill and leach stockpiles$1,440 $1,383 
Raw materials (primarily concentrate)$392 $443 
Work-in-process245 221 
Finished goodsb
1,604 1,169 
Total product$2,241 $1,833 
Long-term inventories:
Mill stockpiles$206 $199 
Leach stockpiles1,029 1,053 
Total long-term mill and leach stockpilesc
$1,235 $1,252 
a.Materials and supplies inventory was net of obsolescence reserves totaling $28 million at March 31, 2023, and $39 million at December 31, 2022.
b.The increase in finished goods inventory at March 31, 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 concentrate sales agreement to a tolling arrangement beginning on January 1, 2023. As a result of the arrangement, a portion of PT-FI’s first-quarter 2023 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.