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STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2022
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 PlansTranslation AdjustmentTotal
Balance at January 1, 2020$(686)$10 $(676)
Amounts arising during the perioda,b
47 — 47 
Amounts reclassifiedc
46 — 46 
Balance at December 31, 2020(593)10 (583)
Amounts arising during the perioda,b
176 — 176 
Amounts reclassifiedc
19 — 19 
Balance at December 31, 2021(398)10 (388)
Amounts arising during the perioda,b
61 — 61 
Amounts reclassifiedc
7 — 7 
Balance at December 31, 2022$(330)$10 $(320)
a.Includes net actuarial gains, net of noncontrolling interest, totaling $40 million for 2020, $174 million for 2021 and $59 million for 2022.
b.Includes tax provision totaling $7 million for 2020, $2 million for 2021 and 2022.
c.Includes amortization primarily related to actuarial losses, net of taxes of less than $1 million for 2020, 2021 and 2022.
Compensation costs charged against earnings Compensation cost charged against earnings for stock-based awards for the years ended December 31 follows:
202220212020
Selling, general and administrative expenses$57 $64 $70 
Production and delivery38 34 29 
Total stock-based compensation95 98 99 
Tax benefit and noncontrolling interests’ sharea
(4)(5)(5)
Impact on net income$91 $93 $94 
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, 2022, and activity during the year ended December 31, 2022, follows:
Number of
Options		Weighted-
Average
Exercise Price
Per Share		Weighted-
Average
Remaining
Contractual
Term (years)		Aggregate
Intrinsic
Value
Balance at January 121,822,562 $23.78 
Exercised(6,371,610)21.07 
Expired/Forfeited(3,836,900)46.56 
Balance at December 3111,614,052 17.75 4.7$235 
Vested and exercisable at December 3111,171,890 17.65 4.6$227 
Weighted average assumptions used to value stock option awards
Information related to stock options during the years ended December 31 follows:
 
2022a
20212020
Weighted-average assumptions used to value stock option awards:
Expected volatilityN/A58.1 %47.7 %
Expected life of options (in years)N/A5.905.83
Expected dividend rateN/A2.5 %1.7 %
Risk-free interest rateN/A0.6 %1.5 %
Weighted-average grant-date fair value (per option)N/A$11.92 $4.72 
Intrinsic value of options exercised$148 $194 $82 
Fair value of options vested$23 $16 $28 
Summary Of Outstanding Stock-settled RSUs and PSUs A summary of outstanding stock-settled RSUs and PSUs as of December 31, 2022, and activity during the year ended December 31, 2022, follows:
Number of AwardsWeighted-Average Grant-Date Fair Value Per AwardAggregate
Intrinsic
Value
Balance at January 17,800,885 $19.82  
Granted2,274,340 36.26  
Vested(3,405,769)14.64  
Forfeited(18,583)34.94  
Balance at December 316,650,873 28.05 $253 
Summary of Outstanding Cash-Settled RSUs and PSUs A summary of outstanding cash-settled RSUs as of December 31, 2022, and activity during the year ended December 31, 2022, follows:
Number of AwardsWeighted-Average Grant-Date Fair Value Per AwardAggregate
Intrinsic
Value
Balance at January 11,053,924 $16.56  
Granted389,950 38.78 
Vested(603,686)14.84 
Forfeited(25,899)30.12  
Balance at December 31814,289 28.04 $31 
Cash Proceeds Received and Tax Benefit from Share-based Payment Awards The following table includes amounts related to exercises of stock options and vesting of RSUs and PSUs during the years ended December 31:
 202220212020
FCX shares tendered to pay the exercise price   
and/or the minimum required withholding taxesa
1,511,072 1,358,101 1,193,183 
Cash received from stock option exercises$125 $210 $51 
Actual tax benefit realized for tax deductions$13 $9 $2 
Amounts FCX paid for employee taxes$55 $29 $17 
a.Under terms of the related plans, upon exercise of stock options, vesting of stock-settled RSUs and payout of PSUs, employees may tender FCX shares to pay the exercise price and/or the minimum required withholding taxes.