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STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2013
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 follows:
 
Unrealized Losses on Securities
 
Translation Adjustment
 
Defined Benefit Plans
 
Deferred Tax Valuation Allowance
 
Total
Balance at January 1, 2011
$
(3
)
 
$
8

 
$
(269
)
 
$
(59
)
 
$
(323
)
Amounts arising during the perioda,b
(1
)
 
(2
)
 
(134
)
 
(20
)
 
(157
)
Amounts reclassifiedc
—

 
—

 
15

 
—

 
15

Balance at December 31, 2011
(4
)
 
6

 
(388
)
 
(79
)
 
(465
)
Amounts arising during the perioda,b
—

 
(1
)
 
(65
)
 
(1
)
 
(67
)
Amounts reclassifiedc
—

 
—

 
26

 
—

 
26

Balance at December 31, 2012
(4
)
 
5

 
(427
)
 
(80
)
 
(506
)
Amounts arising during the perioda,b
(1
)
 
—

 
67

 
—

 
66

Amounts reclassifiedc
—

 
5

 
30

 
—

 
35

Balance at December 31, 2013
$
(5
)
 
$
10

 
$
(330
)
 
$
(80
)
 
$
(405
)
a.
Included net actuarial gains (losses), net of noncontrolling interest, totaling $(215) million for 2011, $(103) million for 2012 and $137 million for 2013. The year 2013 also included $33 million for prior service costs.
b.
Included tax benefits (provision) totaling $81 million for 2011, $39 million for 2012 and $(37) million for 2013.
c.
Included amortization primarily related to actuarial losses that were net of taxes of $8 million for 2011, $15 million for 2012 and $17 million for 2013.
Compensation costs charged against earnings
Compensation cost charged against earnings for stock-based awards for the years ended December 31 follows:
 
 
2013
 
2012
 
2011
Selling, general and administrative expenses
 
$
145

 
$
77

 
$
90

Production and delivery
 
28

 
23

 
25

Capitalized costs
 
13

 
—

 
—

Total stock-based compensation
 
186

 
100

 
115

Less: capitalized costs
 
(13
)
 
—

 
—

Tax benefit and noncontrolling interests' shares
 
(66
)
 
(39
)
 
(46
)
Impact on net income
 
$
107

 
$
61

 
$
69
Summary of stock options and SARs outstanding and changes during the period
A summary of options and SARs outstanding as of December 31, 2013, including 1,927,037 SARs, and changes during the year ended December 31, 2013, follows:
 
Number of
Options and SARs
 
Weighted-
Average
Exercise Price
 
Weighted-
Average
Remaining
Contractual
Term (years)
 
Aggregate
Intrinsic
Value
Balance at January 1
31,472,559

 
$
37.40

 

 
 
Conversion of MMR options
7,203,392

 
27.64

 

 
 
Conversion of PXP SARs
2,374,601

 
27.34

 
 
 
 
Granted
5,479,930

 
35.00

 
 
 
 
Exercised
(976,220
)
 
18.77

 

 
 
Expired/Forfeited
(423,601
)
 
41.83

 

 
 
Balance at December 31
45,130,661

 
35.39

 
5.6
 
$
239

 
 
 
 
 
 
 
 
Vested and exercisable at December 31
31,748,346

 
$
33.40

 
4.7
 
$
210


Summaries of options and SARs outstanding and changes during the years ended December 31 follow:
 
2012
 
2011
 
Number of
Options and SARs
 
Weighted-
Average
Exercise
Price
 
Number of
Options and SARs
 
Weighted-
Average
Exercise
Price
Balance at January 1
27,967,145

 
$
34.90

 
26,930,444

 
$
30.22

Granted
5,050,500

 
46.32

 
4,230,500

 
55.43

Exercised
(1,300,273
)
 
16.68

 
(3,044,174
)
 
21.88

Expired/Forfeited
(244,813
)
 
45.23

 
(149,625
)
 
37.61

Balance at December 31
31,472,559

a 
37.40

 
27,967,145

a 
34.90

a.
Included 39,336 SARs at December 31, 2012, and 69,672 SARs at December 31, 2011.
Weighted average assumptions used to value stock option awards
Information related to stock options during the years ended December 31 follows:
 
2013
 
2012
 
2011
Weighted-average assumptions used to value stock option awards:
 
 
 
 
 
Expected volatility
48.9
%
 
52.0
%
 
50.9
%
Expected life of options (in years)
4.66

 
4.54

 
4.34

Expected dividend rate
3.3
%
 
3.1
%
 
1.8
%
Risk-free interest rate
0.7
%
 
0.7
%
 
1.6
%
Weighted-average grant date fair value (per share)
$
10.98

 
$
15.60

 
$
20.58

Intrinsic value of options exercised
$
10

 
$
34

 
$
101

Fair value of options vested
$
101

 
$
77

 
$
89
Summary Of Outstanding Restricted Stock Units
A summary of outstanding stock-settled RSUs as of December 31, 2013, and activity during the year ended December 31, 2013, follows:
 
Number of Stock-Settled RSUs
 
Weighted-Average Grant-Date Fair Value
 
Weighted-
Average
Remaining
Contractual
Term (years)
 
Aggregate
Intrinsic
Value
Balance at January 1
889,698

 
$
44.35

 
 
 
 
Granted
2,492,600

 
34.84

 
 
 
 
Conversion of PXP and MMR RSUs
1,252,185

 
31.05

 
 
 
 
Vested
(356,275
)
 
41.96

 
 
 
 
Forfeited
(22,732
)
 
31.92

 
 
 
 
Balance at December 31
4,255,476

 
35.13

 
4.1
 
$
161
Summary of Outstanding Cash Settled Restricted Stock Units
A summary of outstanding cash-settled RSUs as of December 31, 2013, and activity from June 1, 2013, to December 31, 2013, follows:
 
Number of Cash-Settled RSUs
 
Weighted-Average Grant-Date Fair Value
 
Weighted-
Average
Remaining
Contractual
Term (years)
 
Aggregate
Intrinsic
Value
Conversion of PXP RSUs
2,259,708

 
$
31.05

 
 
 
 
Granted
1,430

 
32.94

 
 
 
 
Vested
(1,430
)
 
31.05

 
 
 
 
Forfeited
(39,896
)
 
31.05

 
 
 
 
Balance at December 31
2,219,812

 
31.05

 
1.9
 
$
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:
 
2013
 
2012
 
2011
FCX shares tendered to pay the exercise price
 
 
 
 
 
and/or the minimum required taxesa
3,294,624

 
515,558

 
936,811

Cash received from stock option exercises
$
8

 
$
15

 
$
48

Actual tax benefit realized for tax deductions
$
8

 
$
16

 
$
45

Amounts FCX paid for employee taxes
$
105

 
$
16

 
$
45

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.