v3.26.1
FAIR VALUE ACCOUNTING - Schedule of Assets and Liabilities Measured on Recurring and Nonrecurring Basis (Details) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Assets:    
Cash and cash equivalents $ 9,009 $ 7,647
Restricted cash 34 37
Trade receivables from provisional concentrate sales 676 1,064
Long-lived assets   78
Marketable equity and other securities 389 740
Restricted marketable debt and other securities (Note 6) 14 13
Derivative assets (Note 11) 183 262
Total assets 10,305 9,841
Liabilities:    
Debt 5,151 5,283
Derivative liabilities (Note 11) 7 1
Other liabilities   339
Total liabilities 5,158 5,623
Carrying value    
Liabilities:    
Debt 5,083 5,115
Level 1    
Assets:    
Cash and cash equivalents 9,009 7,647
Restricted cash 34 37
Trade receivables from provisional concentrate sales 0 0
Long-lived assets   0
Marketable equity and other securities 389 740
Restricted marketable debt and other securities (Note 6) 14 13
Derivative assets (Note 11) 0 0
Total assets 9,446 8,437
Liabilities:    
Debt 0 0
Derivative liabilities (Note 11) 0 0
Other liabilities   0
Total liabilities 0 0
Level 2    
Assets:    
Cash and cash equivalents 0 0
Restricted cash 0 0
Trade receivables from provisional concentrate sales 676 1,064
Long-lived assets   0
Marketable equity and other securities 0 0
Restricted marketable debt and other securities (Note 6) 0 0
Derivative assets (Note 11) 56 60
Total assets 732 1,124
Liabilities:    
Debt 5,151 5,283
Derivative liabilities (Note 11) 5 1
Other liabilities   339
Total liabilities 5,156 5,623
Level 3    
Assets:    
Cash and cash equivalents 0 0
Restricted cash 0 0
Trade receivables from provisional concentrate sales 0 0
Long-lived assets   78
Marketable equity and other securities 0 0
Restricted marketable debt and other securities (Note 6) 0 0
Derivative assets (Note 11) 127 202
Total assets 127 280
Liabilities:    
Debt 0 0
Derivative liabilities (Note 11) 2 0
Other liabilities   0
Total liabilities $ 2 $ 0