STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2011

Stockholders' Equity Note [Abstract]

Compensation costs charged against earnings

Stock-Based Compensation Cost. Compensation cost charged against earnings for stock-based awards for the years ended December 31 follows:

	2011			2010			2009
Stock options awarded to employees (including directors)	$	84		$	84		$	67
Stock options awarded to nonemployees	1			5			5
Restricted stock units awarded to employees
(including directors)	32			30			29
Restricted stock awards to employees	—			1			2
SARs	(2		)	2			4
Total stock-based compensation costa	115			122			107
Tax benefit	(42		)	(45		)	(41		)
Noncontrolling interests’ share	(4		)	(3		)	(3		)
Impact on net income	$	69		$	74		$	63

a. Amounts are before Rio Tinto’s share of the cost of employee exercises of in-the-money stock options, which decreased consolidated selling, general and administrative expenses by $3 million in 2011, $4 million in 2010 and $2 million in 2009.

Summary of stock options and SARs outstanding and changes during the period

A summary of options outstanding as of December 31, 2011, including 69,672 SARs, and changes during the year ended December 31, 2011, follows:

	Number of Options		Weighted- Average Option Price		Weighted- Average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Balance at January 1	26,930,444		$	30.22
Granted	4,230,500		55.43
Exercised	(3,044,174	)	21.88
Expired/Forfeited	(149,625	)	37.61
Balance at December 31	27,967,145		34.90		6.9	$	152
Vested and exercisable at December 31	13,560,645		$	33.10	5.7	$	65

Summaries of options outstanding, including SARs, and changes during the years ended December 31 follow:

	2010				2009
	Number of Options		Weighted- Average Option Price		Number of Options		Weighted- Average Option Price
Balance at January 1	24,921,594		$	27.59	19,705,894		$	32.49
Granted	8,303,000		36.15		7,302,000		12.94
Exercised	(6,081,650	)	27.54		(1,571,874	)	20.15
Expired/Forfeited	(212,500	)	30.29		(514,426	)	30.29
Balance at December 31	26,930,444		30.22		24,921,594		27.59

Weighted average assumptions used to value stock option awards

The weighted-average assumptions used to value stock option awards during the years ended December 31 follow:

	2011		2010		2009
Expected volatility	50.9	%	51.9	%	70.6	%
Expected life of options (in years)	4.34		4.61		4.37
Expected dividend rate	1.8	%	0.8	%	—	%
Risk-free interest rate	1.6	%	2.2	%	1.5	%

Schedule of amounts related to exercises of stock options and stock appreciation rights and the vesting of restricted stock units and restricted stock awards

The following table includes amounts related to exercises of stock options and SARs and vesting of restricted stock units and restricted stock awards during the years ended December 31:

	2011		2010		2009
FCX shares tendered to pay the exercise price
and/or the minimum required taxesa	936,811		934,099		542,786
Cash received from stock option exercises	$	48	$	109	$	18
Actual tax benefit realized for tax deductions	45		50		21
Amounts FCX paid for employee taxes	45		28		12
Amounts FCX paid for exercised SARs	1		1		1

a. Under terms of the related plans, upon exercise of stock options and vesting of restricted stock units and restricted stock awards, employees may tender FCX shares to FCX to pay the exercise price and/or the minimum required taxes.

Summary Of Outstanding Restricted Stock Units [Text Block]

A summary of outstanding restricted stock units as of December 31, 2011, and activity during the year ended December 31, 2011, follows:

	Number of Restricted Stock Units		Weighted- Average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Balance at January 1	2,140,914
Granted	381,636
Vested	(1,257,274	)
Forfeited	—
Balance at December 31	1,265,276		1.4	$	47