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STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2015
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, 2013
$
(507
)
 
$
(4
)
 
$
5

 
$
(506
)
Amounts arising during the perioda,b
67

 
(1
)
 
—

 
66

Amounts reclassifiedc
30

 
—

 
5

 
35

Balance at December 31, 2013
(410
)
 
(5
)
 
10

 
(405
)
Amounts arising during the perioda,b
(162
)
 
(1
)
 
—

 
(163
)
Amounts reclassifiedc
24

 
—

 
—

 
24

Balance at December 31, 2014
(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
)
a.
Includes net actuarial gains (losses), net of noncontrolling interest, totaling $126 million for 2013, $(252) million for 2014 and $(7) million for 2015. The year 2013 also included $33 million for prior service costs.
b.
Includes tax (provision) benefits totaling $(37) million for 2013, $89 million for 2014 and $2 million for 2015.
c.
Includes amortization primarily related to actuarial losses, net of taxes of $17 million for 2013, $14 million for 2014 and $16 million for 2015.
Compensation costs charged against earnings
Compensation cost charged against earnings for stock-based awards for the years ended December 31 follows:
 
 
2015
 
2014
 
2013
Selling, general and administrative expenses
 
$
67

 
$
79

 
$
145

Production and delivery
 
17

 
26

 
26

Capitalized costs
 
11

 
23

 
13

Total stock-based compensation
 
95

 
128

 
184

Less capitalized costs
 
(11
)
 
(23
)
 
(13
)
Tax benefit and noncontrolling interests' share
 
(31
)
 
(41
)
 
(65
)
Impact on net (loss) income from continuing operations
 
$
53

 
$
64

 
$
106
Summary of stock options and SARs outstanding and changes during the period
A summary of options and SARs outstanding as of December 31, 2015, including 1,321,029 SARs, and activity during the year ended December 31, 2015, 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
45,929,739

 
$
35.65

 

 
 
 
Granted
5,450,000

 
18.96

 
 
 
 
 
Exercised
(195,326
)
 
15.61

 

 
 
 
Expired/Forfeited
(1,880,534
)
 
30.15

 

 
 
 
Balance at December 31
49,303,879

 
34.10

 
4.8
 
$
—

a 
 
 
 
 
 
 
 
 
 
Vested and exercisable at December 31
40,235,301

 
$
35.78

 
4.0
 
$
—

a 
a.
At December 31, 2015, all outstanding stock options and SARs have exercise prices greater than the market price of FCX's common stock.

Weighted average assumptions used to value stock option awards
Information related to stock options during the years ended December 31 follows:
 
2015
 
2014
 
2013
Weighted-average assumptions used to value stock option awards:
 
 
 
 
 
Expected volatility
37.9
%
 
36.6
%
 
48.9
%
Expected life of options (in years)
5.17

 
4.92

 
4.66

Expected dividend rate
4.5
%
 
3.5
%
 
3.3
%
Risk-free interest rate
1.7
%
 
1.7
%
 
0.7
%
Weighted-average grant-date fair value (per share)
$
4.30

 
$
7.43

 
$
10.98

Intrinsic value of options exercised
$
1

 
$
17

 
$
10

Fair value of options vested
$
50

 
$
76

 
$
101
Summary Of Outstanding Restricted Stock Units
A summary of outstanding stock-settled RSUs and PSUs as of December 31, 2015, and activity during the year ended December 31, 2015, follows:
 
Number of Awards
 
Weighted-Average Grant-Date Fair Value Per Award
 
Aggregate
Intrinsic
Value
Balance at January 1
5,805,145

 
$
33.57

 
 
Granted
2,729,750

 
16.77

 
 
Vested
(1,150,589
)
 
34.10

 
 
Forfeited
(164,006
)
 
34.35

 
 
Balance at December 31
7,220,300

 
27.12

 
$
49
Summary of Outstanding Cash Settled Restricted Stock Units
A summary of outstanding cash-settled RSUs and PSUs as of December 31, 2015, and activity during the year ended December 31, 2015, follows:
 
Number of Awards
 
Weighted-Average Grant-Date Fair Value Per Award
 
Aggregate
Intrinsic
Value
Balance at January 1
3,587,564

 
$
30.99

 
 
Granted
2,366,715

 
18.68

 
 
Vested
(1,196,395
)
 
30.99

 
 
Forfeited
(145,348
)
 
24.21

 
 
Balance at December 31
4,612,536

 
24.89

 
$
31
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:
 
2015
 
2014
 
2013
FCX shares tendered to pay the exercise price
 
 
 
 
 
and/or the minimum required taxesa
349,122

 
474,480

 
3,294,624

Cash received from stock option exercises
$
3

 
$
12

 
$
8

Actual tax benefit realized for tax deductions
$
11

 
$
16

 
$
8

Amounts FCX paid for employee taxes
$
7

 
$
8

 
$
105

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