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STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2017
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:
 
Defined Benefit Plans
 
Unrealized Losses on Securities
 
Translation Adjustment
 
Total
Balance at January 1, 2015
$
(548
)
 
$
(6
)
 
$
10

 
$
(544
)
Amounts arising during the perioda,b
3

 
—

 
—

 
3

Amounts reclassifiedc
38

 
—

 
—

 
38

Balance at December 31, 2015
(507
)
 
(6
)
 
10

 
(503
)
Amounts arising during the perioda,b
(91
)
 
2

 
—

 
(89
)
Amounts reclassifiedc
44

 
—

 
—

 
44

Balance at December 31, 2016
(554
)
 
(4
)
 
10

 
(548
)
Amounts arising during the perioda,b
7

 
1

 
—

 
8

Amounts reclassifiedc
53

 
—

 
—

 
53

Balance at December 31, 2017
$
(494
)
 
$
(3
)
 
$
10

 
$
(487
)
a.
Includes net actuarial (losses) gains, net of noncontrolling interest, totaling $(7) million for 2015, $(79) million for 2016 and $52 million for 2017.
b.
Includes tax benefits (provision) totaling $2 million for 2015, $(11) million for 2016 and $(45) million for 2017.
c.
Includes amortization primarily related to actuarial losses, net of taxes of $16 million for 2015, $4 million for 2016 and $5 million for 2017.
Compensation costs charged against earnings
Compensation cost charged against earnings for stock-based awards for the years ended December 31 follows:
 
 
2017
 
2016
 
2015
Selling, general and administrative expenses
 
$
55

 
$
69

 
$
67

Production and delivery
 
16

 
16

 
17

Capitalized costs
 
—

 
4

 
11

Total stock-based compensation
 
71

 
89

 
95

Less capitalized costs
 
—

 
(4
)
 
(11
)
Tax benefit and noncontrolling interests’ share
 
(4
)
a 
(3
)
a 
(31
)
Impact on net income (loss) from continuing operations
 
$
67

 
$
82

 
$
53


a. Charges in the U.S. are not expected to generate a future tax benefit.
Summary of stock options and SARs outstanding and changes during the period
A summary of options and SARs outstanding as of December 31, 2017, including 716,469 SARs, and activity during the year ended December 31, 2017, 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
53,794,235

 
$
30.25

 

 
 
 
Granted
3,861,000

 
15.52

 
 
 
 
 
Exercised
(647,941
)
 
7.64

 

 
 
 
Expired/Forfeited
(8,992,606
)
 
34.24

 

 
 
 
Balance at December 31
48,014,688

 
28.63

 
4.8
 
$
129

 
 
 
 
 
 
 
 
 
 
Vested and exercisable at December 31
39,725,053

 
32.26

 
4.0
 
$
62

 
Weighted average assumptions used to value stock option awards
Information related to stock options during the years ended December 31 follows:
 
2017
 
2016
 
2015
Weighted-average assumptions used to value stock option awards:
 
 
 
 
 
Expected volatility
51.4
%
 
71.6
%
 
37.9
%
Expected life of options (in years)
5.70

 
5.34

 
5.17

Expected dividend rate
—

 
—

 
4.5
%
Risk-free interest rate
2.0
%
 
1.3
%
 
1.7
%
Weighted-average grant-date fair value (per share)
$
7.61

 
$
2.64

 
$
4.30

Intrinsic value of options exercised
$
5

 
$
—

a 
$
1

Fair value of options vested
$
25

 
$
43

 
$
50

a. Rounds to less than $1 million.

Summary Of Outstanding Stock-settled RSUs and PSUs
A summary of outstanding stock-settled RSUs and PSUs as of December 31, 2017, and activity during the year ended December 31, 2017, follows:
 
Number of Awards
 
Weighted-Average Grant-Date Fair Value Per Award
 
Aggregate
Intrinsic
Value
Balance at January 1
7,218,227

 
$
18.08

 
 
Granted
2,062,067

a 
15.37

 
 
Vested
(3,175,437
)
 
15.45

 
 
Forfeited
(554,233
)
 
11.23

 
 
Balance at December 31
5,550,624

 
19.27

 
$
105

a. Excludes 374 thousand PSUs related to 2017 grants and 497 thousand PSUs related to 2016 grants for which the performance metrics have not yet been established.

Summary of Outstanding Cash-Settled RSUs and PSUs
A summary of outstanding cash-settled RSUs and PSUs as of December 31, 2017, and activity during the year ended December 31, 2017, follows:
 
Number of Awards
 
Weighted-Average Grant-Date Fair Value Per Award
 
Aggregate
Intrinsic
Value
Balance at January 1
2,531,744

 
$
19.30

 
 
Granted
622,907

 
15.26

 
 
Vested
(1,796,288
)
 
22.43

 
 
Forfeited
(51,128
)
 
12.96

 
 
Balance at December 31
1,307,235

 
13.32

 
$
25
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:
 
2017
 
2016
 
2015
FCX shares tendered to pay the exercise price
 
 
 
 
 
and/or the minimum required taxesa
1,041,937

 
906,120

 
349,122

Cash received from stock option exercises
$
5

 
$
—

b 
$
3

Actual tax benefit realized for tax deductions
$
1

 
$
—

b 
$
11

Amounts FCX paid for employee taxes
$
15

 
$
6

 
$
7

a.
Under terms of the related plans, upon exercise of stock options and vesting of stock-settled RSUs, employees may tender FCX shares to pay the exercise price and/or the minimum required taxes.
b.
Rounds to less than $1 million.