The Extract Parameter refactoring is used to add a new parameter to a function declaration and to update the function calls accordingly. Select an expression to be replaced with a parameter or place the caret over an expression and press &shortcut:IntroduceParameter; (Refactor | Extract | Parameter):

For example, in the code fragment below, you could select an expression in the code and press &shortcut:IntroduceParameter; (Refactor | Extract Parameter):

This will result in the following: