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STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2018
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, 2016
$
(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
)
Adoption of new accounting standard for reclassification of income taxes (refer to Note 1)
(79
)
 
—

 
—

 
(79
)
Amounts arising during the perioda,b
(84
)
 
—

 
—

 
(84
)
Amounts reclassifiedc
48

 
3

 
—

 
51

Sale of interest in PT-FI (refer to Note 2)
(6
)
 
—

 
—

 
(6
)
Balance at December 31, 2018
$
(615
)
 
$
—

 
$
10

 
$
(605
)
a.
Includes net actuarial (losses) gains, net of noncontrolling interest, totaling $(79) million for 2016, $52 million for 2017 and $(87) million for 2018.
b.
Includes tax provision totaling $11 million for 2016, $45 million for 2017 and $4 million for 2018.
c.
Includes amortization primarily related to actuarial losses, net of taxes of $4 million for 2016, $5 million for 2017 and none for 2018.
Compensation costs charged against earnings
Compensation cost charged against earnings for stock-based awards for the years ended December 31 follows:
 
2018
 
2017
 
2016
 
Selling, general and administrative expenses
$
62

 
$
55

 
$
69

 
Production and delivery
12

 
16

 
16

 
Capitalized costs
—

 
—

 
4

 
Total stock-based compensation
74

 
71

 
89

 
Less capitalized costs
—

 
—

 
(4
)
 
Tax benefit and noncontrolling interests’ share
(4
)
a 
(4
)
a 
(3
)
a 
Impact on net income (loss) from continuing operations
$
70

 
$
67

 
$
82

 

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 stock options outstanding as of December 31, 2018, and activity during the year ended December 31, 2018, follows:
 
Number of
Options
 
Weighted-
Average
Exercise Price
Per Share
 
Weighted-
Average
Remaining
Contractual
Term (years)
 
Aggregate
Intrinsic
Value
 
Balance at January 1
48,014,688

 
$
28.63

 

 
 
 
Granted
3,315,000

 
18.74

 
 
 
 
 
Exercised
(801,706
)
 
10.05

 

 
 
 
Expired/Forfeited
(3,721,618
)
 
39.26

 

 
 
 
Balance at December 31
46,806,364

 
27.40

 
4.5
 
$
38

 
 
 
 
 
 
 
 
 
 
Vested and exercisable at December 31
39,919,885

 
29.80

 
3.8
 
$
26

 
Weighted average assumptions used to value stock option awards
Information related to stock options during the years ended December 31 follows:
 
2018
 
2017
 
2016
 
Weighted-average assumptions used to value stock option awards:
 
 
 
 
 
 
Expected volatility
46.1
%
 
51.4
%
 
71.6
%
 
Expected life of options (in years)
5.92

 
5.70

 
5.34

 
Expected dividend rate
1.2
%
 
—

 
—

 
Risk-free interest rate
2.6
%
 
2.0
%
 
1.3
%
 
Weighted-average grant-date fair value (per share)
$
7.84

 
$
7.61

 
$
2.64

 
Intrinsic value of options exercised
$
7

 
$
5

 
$
—

a 
Fair value of options vested
$
24

 
$
25

 
$
43

 
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, 2018, and activity during the year ended December 31, 2018, follows:
 
Number of Awards
 
Weighted-Average Grant-Date Fair Value Per Award
 
Aggregate
Intrinsic
Value
Balance at January 1
5,206,624

 
$
18.48

 
 
Granted
2,127,785

a 
19.11

 
 
Vested
(753,806
)
 
15.53

 
 
Forfeited
(775,966
)
 
11.91

 
 
Balance at December 31
5,804,637

 
19.97

 
$
60
Summary of Outstanding Cash-Settled RSUs and PSUs
A summary of outstanding cash-settled RSUs and PSUs as of December 31, 2018, and activity during the year ended December 31, 2018, follows:
 
Number of Awards
 
Weighted-Average Grant-Date Fair Value Per Award
 
Aggregate
Intrinsic
Value
Balance at January 1
1,307,235

 
$
13.32

 
 
Granted
870,312

 
17.91

 
 
Vested
(666,975
)
 
14.12

 
 
Forfeited
(23,706
)
 
15.92

 
 
Balance at December 31
1,486,866

 
15.61

 
$
15
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:
 
2018
 
2017
 
2016
 
FCX shares tendered to pay the exercise price
 
 
 
 
 
 
and/or the minimum required taxesa
195,322

 
1,041,937

 
906,120

 
Cash received from stock option exercises
$
8

 
$
5

 
$
—

b 
Actual tax benefit realized for tax deductions
$
3

 
$
1

 
$
—

b 
Amounts FCX paid for employee taxes
$
4

 
$
15

 
$
6

 
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.