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Earnings Per Share (Unaudited)
 9 Months Ended
Sep. 30, 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
 
Nine Months Ended
 
 
September 30,
 
September 30,
 
 
2013
 
2012
 
2013
 
2012
 
Net income
$
1,048

 
$
1,140

 
$
2,482

 
$
3,035

 
Net income attributable to noncontrolling interests
(218
)
 
(316
)
 
(519
)
 
(737
)
 
Preferred dividends on redeemable noncontrolling interest
(9
)
 
—

 
(12
)
 
—

 
Net income attributable to FCX common stockholders
$
821

 
$
824

 
$
1,951

 
$
2,298

 
 
 
 
 
 
 
 
 
 
Weighted-average shares of common stock outstanding
1,038

 
949

 
989

 
949

 
Add shares issuable upon exercise or vesting of
 
 
 
 
 
 
 
 
dilutive stock options and restricted stock units
5

 
4

 
4

 
4

a 
Weighted-average shares of common stock outstanding
 
 
 
 
 
 
 
 
for purposes of calculating diluted net income per share
1,043

 
953

 
993

 
953

 
 
 
 
 
 
 
 
 
 
Diluted net income per share attributable to FCX common stockholders
$
0.79

 
$
0.86

 
$
1.96

 
$
2.41

 
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 totaled approximately one million for the nine months ended September 30, 2012.

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 34 million stock options with a weighted-average exercise price of $40.11 per option for third-quarter 2013, and approximately 32 million stock options with a weighted average exercise price of $40.63 for the nine months ended September 30, 2013. Stock options for approximately 24 million shares with a weighted-average exercise price of $42.52 per option were excluded for third-quarter 2012, and stock options for approximately 19 million shares with a weighted-average exercise price of $43.80 were excluded for the nine months ended September 30, 2012.