Earnings Per Share (Unaudited)

3 Months Ended

Mar. 31, 2013

Earnings Per Share [Abstract]

Earnings Per Share

EARNINGS PER SHARE

FCX’s basic net income per share of common stock was calculated by dividing net income attributable to FCX common stockholders by the weighted-average shares of common stock outstanding during the period. Following is a reconciliation of net income and weighted-average shares of common stock outstanding for purposes of calculating diluted net income per share (in millions, except per share amounts):

	Three Months Ended
	March 31,
	2013			2012
Net income	$	824		$	1,001
Net income attributable to noncontrolling interests	(176		)	(237		)
Net income attributable to FCX common stockholders	$	648		$	764
Weighted-average shares of common stock outstanding	950			949
Add shares issuable upon exercise or vesting of
dilutive stock options and restricted stock units	3			6			a
Weighted-average shares of common stock outstanding
for purposes of calculating diluted net income per share	953			955
Diluted net income per share attributable to FCX   common stockholders	$	0.68		$	0.80

a. Excluded shares of common stock associated with outstanding stock options with exercise prices less than the average market price of FCX's common stock that were anti-dilutive based on the treasury stock method of approximately three million for first-quarter2012.

Outstanding stock options with exercise prices greater than the average market price of FCX’s common stock during the period are excluded from the computation of diluted net income per share of common stock. Excluded amounts were 29 million stock options with a weighted-average exercise price of $41.35 per option for first-quarter2013 and 9 million stock options with a weighted-average exercise price of $50.63 per option for first-quarter2012.