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STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2014
Stockholders' Equity Note [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss)
A summary of changes in the balances of each component of accumulated other comprehensive loss, net of tax follows:
 
Unrealized Losses on Securities
 
Translation Adjustment
 
Defined Benefit Plans
 
Total
Balance at January 1, 2012
$
(4
)
 
$
6

 
$
(467
)
 
$
(465
)
Amounts arising during the perioda,b,c,d
—

 
(1
)
 
(66
)
 
(67
)
Amounts reclassifiede
—

 
—

 
26

 
26

Balance at December 31, 2012
(4
)
 
5

 
(507
)
 
(506
)
Amounts arising during the perioda,b,c
(1
)
 
—

 
67

 
66

Amounts reclassifiede
—

 
5

 
30

 
35

Balance at December 31, 2013
(5
)
 
10

 
(410
)
 
(405
)
Amounts arising during the perioda,b,c,d
(1
)
 
—

 
(162
)
 
(163
)
Amounts reclassifiede
—

 
—

 
24

 
24

Balance at December 31, 2014
$
(6
)
 
$
10

 
$
(548
)
 
$
(544
)
a.
Includes net actuarial (losses) gains, net of noncontrolling interest, totaling $(106) million for 2012, $126 million for 2013 and $(252) million for 2014. The year 2013 also included $33 million for prior service costs.
b.
Includes foreign exchange gains (losses), net of noncontrolling interest, totaling $3 million for 2012, $11 million for 2013 and $1 million for 2014.
c.
Includes tax benefits (provision) totaling $39 million for 2012, $(37) million for 2013 and $94 million for 2014.
d.
Includes adjustments to deferred tax valuation allowance of $1 million for 2012 and $5 million for 2014.
e.
Includes amortization primarily related to actuarial losses that were net of taxes of $15 million for 2012, $17 million for 2013 and $14 million for 2014.
Compensation costs charged against earnings
Compensation cost charged against earnings for stock-based awards for the years ended December 31 follows:
 
 
2014
 
2013
 
2012
Selling, general and administrative expenses
 
$
79

 
$
145

 
$
77

Production and delivery
 
28

 
28

 
23

Capitalized costs
 
23

 
13

 
—

Total stock-based compensation
 
130

 
186

 
100

Less: capitalized costs
 
(23
)
 
(13
)
 
—

Tax benefit and noncontrolling interests' share
 
(42
)
 
(66
)
 
(39
)
Impact on net income
 
$
65

 
$
107

 
$
61
Summary of stock options and SARs outstanding and changes during the period
A summary of options and SARs outstanding as of December 31, 2014, including 1,413,153 SARs, and activity during the year ended December 31, 2014, follows:
 
Number of
Options and SARs
 
Weighted-
Average
Exercise Price
Per Share
 
Weighted-
Average
Remaining
Contractual
Term (years)
 
Aggregate
Intrinsic
Value
Balance at January 1
45,130,661

 
$
35.39

 

 
 
Granted
3,276,000

 
31.01

 
 
 
 
Exercised
(1,950,130
)
 
21.23

 

 
 
Expired/Forfeited
(526,792
)
 
37.51

 

 
 
Balance at December 31
45,929,739

 
35.65

 
5.1
 
$
38

 
 
 
 
 
 
 
 
Vested and exercisable at December 31
35,062,748

 
$
35.15

 
4.2
 
$
38
Weighted average assumptions used to value stock option awards
Information related to stock options during the years ended December 31 follows:
 
2014
 
2013
 
2012
Weighted-average assumptions used to value stock option awards:
 
 
 
 
 
Expected volatility
36.6
%
 
48.9
%
 
52.0
%
Expected life of options (in years)
4.92

 
4.66

 
4.54

Expected dividend rate
3.5
%
 
3.3
%
 
3.1
%
Risk-free interest rate
1.7
%
 
0.7
%
 
0.7
%
Weighted-average grant date fair value (per share)
$
7.43

 
$
10.98

 
$
15.60

Intrinsic value of options exercised
$
17

 
$
10

 
$
34

Fair value of options vested
$
76

 
$
101

 
$
77
Summary Of Outstanding Restricted Stock Units
A summary of outstanding stock-settled PSUs and RSUs as of December 31, 2014, and activity during the year ended December 31, 2014, follows:
 
Number of Awards
 
Weighted-Average Grant-Date Fair Value
 
Weighted-
Average
Remaining
Contractual
Term (years)
 
Aggregate
Intrinsic
Value
Balance at January 1
4,255,476

 
$
35.13

 
 
 
 
Granted
2,161,700

 
31.17

 
 
 
 
Vested
(436,610
)
 
37.93

 
 
 
 
Forfeited
(175,421
)
 
31.46

 
 
 
 
Balance at December 31
5,805,145

 
33.57

 
4.7
 
$
128
Summary of Outstanding Cash Settled Restricted Stock Units
A summary of outstanding cash-settled RSUs as of December 31, 2014, and activity during the year ended December 31, 2014, follows:
 
Number of Cash-Settled RSUs
 
Weighted-Average Grant-Date Fair Value
 
Weighted-
Average
Remaining
Contractual
Term (years)
 
Aggregate
Intrinsic
Value
Balance at January 1
2,219,812

 
$
31.05

 
 
 
 
Granted
2,204,986

 
30.95

 
 
 
 
Vested
(544,048
)
 
31.05

 
 
 
 
Forfeited
(293,186
)
 
31.01

 
 
 
 
Balance at December 31
3,587,564

 
30.99

 
1.3
 
$
84
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 vesting of RSUs during the years ended December 31:
 
2014
 
2013
 
2012
FCX shares tendered to pay the exercise price
 
 
 
 
 
and/or the minimum required taxesa
474,480

 
3,294,624

 
515,558

Cash received from stock option exercises
$
12

 
$
8

 
$
15

Actual tax benefit realized for tax deductions
$
16

 
$
8

 
$
16

Amounts FCX paid for employee taxes
$
8

 
$
105

 
$
16

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