Earnings Per Share (Unaudited)

3 Months Ended

Mar. 31, 2012

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 common stock 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,
	2012			2011
Net income	$	1,001		$	1,861
Net income attributable to noncontrolling interests	(237		)	(362		)
Net income attributable to FCX common stockholders	$	764		$	1,499
Weighted-average shares of common stock outstanding	949			946
Add stock issuable upon exercise or vesting of:
Dilutive stock optionsa	5			8
Restricted stock units	1			1
Weighted-average shares of common stock outstanding
for purposes of calculating diluted net income per share	955			955
Diluted net income per share attributable to FCX      common stockholders	$	0.80		$	1.57

a. Potential additional shares of common stock that were anti-dilutive totaled approximately three million for first-quarter 2012 and approximately two million for first-quarter 2011.

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 net income per share of common stock. Excluded amounts were approximately 9 million stock options with a weighted-average exercise price of $50.63 per option for first-quarter2012 and less than 1 million stock options with a weighted-average exercise price of $57.86 per option for first-quarter2011.