SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Schedule of diluted earnings per share

Reconciliations of net income (loss) and weighted-average shares of common stock outstanding for purposes of calculating basic and diluted net income (loss) per share for the years ended December 31 follow:

	2020		2019			2018
Net income (loss) from continuing operations	$	865	$	(192)		$	2,909
Net income from continuing operations attributable to noncontrolling interests	(266)		(50)			(292)
Accumulated dividends and undistributed earnings allocated to participating securities	(3)		(3)			(4)
Net income (loss) from continuing operations attributable to common stockholders	596		(245)			2,613
Net income (loss) from discontinued operations	—		3			(15)
Net income (loss) attributable to common stockholders	$	596	$	(242)		$	2,598
Basic weighted-average shares of common stock outstanding (millions)	1,453		1,451			1,449
Add shares issuable upon exercise or vesting of dilutive stock options and RSUs (millions)	8		—		a	9		a
Diluted weighted-average shares of common stock outstanding (millions)	1,461		1,451			1,458
Basic net income (loss) per share attributable to common stockholders:
Continuing operations	$	0.41	$	(0.17)		$	1.80
Discontinued operations	—		—			(0.01)
	$	0.41	$	(0.17)		$	1.79
Diluted net income (loss) per share attributable to common stockholders:
Continuing operations	$	0.41	$	(0.17)		$	1.79
Discontinued operations	—		—			(0.01)
	$	0.41	$	(0.17)		$	1.78

a.Excludes approximately 11 million shares of common stock in 2019 and 1 million in 2018 associated with outstanding stock options with exercise prices less than the average market price of FCX’s common stock and RSUs that were anti-dilutive.