XML 60 R42.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONTINGENCIES (Tables)
 12 Months Ended
Dec. 31, 2012
Contingencies [Abstract]  
Environmental Loss Contingency Disclosure
A summary of changes in environmental obligations for the years ended December 31 follows:
 
2012
 
2011
 
2010
Balance at beginning of year
$
1,453

 
$
1,422

 
$
1,464

Accretion expensea
80

 
88

 
97

Additions
70

 
132

 
19

Reductionsb
(182
)
 
(68
)
 
—

Spending
(199
)
 
(121
)
 
(158
)
Balance at end of year
1,222

 
1,453

 
1,422

Less current portion
(186
)
 
(205
)
 
(138
)
Long-term portion
$
1,036

 
$
1,248

 
$
1,284

a.
Represented accretion of the fair value of environmental obligations assumed in the 2007 acquisition of FMC, which were determined on a discounted cash flow basis.
b.
Reductions primarily reflected adjustments for changes in the anticipated scope and timing of environmental remediation projects and the settlement of environmental matters.
Asset Retirement Obligation Disclosure
A summary of changes in FCX’s AROs for the years ended December 31 follows:
 
2012
 
2011
 
2010
Balance at beginning of year
$
921

 
$
856

 
$
731

Liabilities incurred
6

 
9

 
5

Revisions to cash flow estimatesa
211

 
48

 
105

Accretion expense
55

 
58

 
54

Spending
(47
)
 
(49
)
 
(38
)
Foreign currency translation adjustment
—

 
(1
)
 
(1
)
Balance at end of year
1,146

 
921

 
856

Less current portion
(55
)
 
(31
)
 
(69
)
Long-term portion
$
1,091

 
$
890

 
$
787


a.
Revisions to cash flow estimates were primarily related to updated closure plans that included revised cost estimates and accelerated timing of certain closure activities.