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STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2023
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, 2021$(593)$10 $(583)
Amounts arising during the perioda,b
176 — 176 
Amounts reclassifiedc
19 — 19 
Balance at December 31, 2021(398)10 (388)
Amounts arising during the perioda,b
61 — 61 
Amounts reclassifiedc
7 — 7 
Balance at December 31, 2022(330)10 (320)
Amounts arising during the perioda,b
41 — 41 
Amounts reclassifiedc
5 — 5 
Balance at December 31, 2023$(284)$10 $(274)
a.Includes net actuarial gains, net of noncontrolling interest, totaling $174 million for 2021, $59 million for 2022 and $38 million for 2023.
b.Includes tax provision totaling $2 million for 2021, 2022, and 2023.
c.Includes amortization primarily related to actuarial losses, net of taxes of less than $1 million for 2021, 2022 and 2023.
Compensation costs charged against earnings Compensation cost charged against earnings for stock-based awards for the years ended December 31 follows:
202320222021
Selling, general and administrative expenses$64 $57 $64 
Production and delivery45 38 34 
Total stock-based compensation109 95 98 
Tax benefit and noncontrolling interests’ sharea
(5)(4)(5)
Impact on net income$104 $91 $93 
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, 2023, and activity during the year ended December 31, 2023, follows:
Number of
Options		Weighted-
Average
Exercise Price
Per Share		Weighted-
Average
Remaining
Contractual
Term (years)		Aggregate
Intrinsic
Value
Balance at January 111,614,052 $17.75 
Exercised(2,851,786)24.18 
Expired/Forfeited(12,333)34.27 
Balance at December 318,749,933 15.63 4.3$236 
Vested and exercisable at December 318,726,933 15.59 4.3$235 
Weighted average assumptions used to value stock option awards
Information related to stock options during the years ended December 31 follows:
 
2023a
 2022a
2021
Weighted-average assumptions used to value stock option awards:
Expected volatilityN/AN/A58.1 %
Expected life of options (in years)N/AN/A5.90
Expected dividend rateN/AN/A2.5 %
Risk-free interest rateN/AN/A0.6 %
Weighted-average grant-date fair value (per option)N/AN/A$11.92 
Intrinsic value of options exercised$52 $148 $194 
Fair value of options vested$3 $23 $16 
Summary Of Outstanding Stock-settled RSUs and PSUs A summary of outstanding stock-settled RSUs and PSUs as of December 31, 2023, and activity during the year ended December 31, 2023, follows:
Number of AwardsWeighted-Average Grant-Date Fair Value Per AwardAggregate
Intrinsic
Value
Balance at January 16,650,873 $28.05  
Granted2,270,941 39.72  
Vested(3,172,907)19.76  
Forfeited(49,332)38.24  
Balance at December 315,699,575 37.23 $243 
Summary of Outstanding Cash-Settled RSUs and PSUs A summary of outstanding cash-settled RSUs as of December 31, 2023, and activity during the year ended December 31, 2023, follows:
Number of AwardsWeighted-Average Grant-Date Fair Value Per AwardAggregate
Intrinsic
Value
Balance at January 1814,289 $28.04  
Granted546,100 43.06 
Vested(475,151)22.54 
Forfeited(26,497)41.36  
Balance at December 31858,741 40.23 $37 
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:
 202320222021
FCX shares tendered or withheld to pay the exercise   
price and/or the statutory withholding taxesa
1,633,519 1,511,072 1,358,101 
Cash received from stock option exercises$47 $125 $210 
Actual tax benefit realized for tax deductions$4 $13 $9 
Amounts FCX paid for employee taxes$50 $55 $29 
a.Under terms of the related plans, upon exercise of stock options, vesting of stock-settled RSUs and payout of PSUs, employees may tender or have withheld FCX shares to pay the exercise price and/or required withholding taxes.