Subsequent Events (Unaudited)

6 Months Ended

Jun. 30, 2013

SUBSEQUENT EVENTS

During July 2013, the enhanced "make-whole" conversion rates triggered by FCX's acquisition of MMR expired on MMR's (i) 4% Convertible Senior Notes due 2017 (4% Senior Notes) on July 18, 2013, (ii) 8% Convertible Perpetual Preferred Stock (8% Preferred Stock) on July 9, 2013, and (iii) 5.75% Convertible Perpetual Preferred Stock, Series 1 (5.75% Preferred Stock) on July 9, 2013. A summary of the conversion activity follows (in millions):



	4%		8%			5.75%
	Senior		Preferred			Preferred
	Notes		Stock			Stock
Acquisition-date (June 3, 2013) fair value	$	237	$	30		$	229
Less July 2013 conversions	26		—			29
Less June 2013 conversions	211		29		^a	200		^a
Remaining balance at make-whole expiration dates	$	—	$	1		$	—

Royalty trust units issued upon conversions:
July 2013 conversions	1.8		—			2.0
June 2013 conversions	14.5		2.0		^a	13.7		^a
Total	16.3		2.0			15.7


a.	Conversions of preferred stock in June 2013 included cash consideration of $202 million and royalty trust units with a value of $27 million.

During July 2013, the put rights triggered by FCX's acquisition of MMR expired on MMR's 5¼% Convertible Senior Notes due 2013 after the tender of $1.0 million of these notes.

FCX evaluated events after June 30, 2013, and through the date the consolidated financial statements were issued, and determined any events or transactions occurring during this period that would require recognition or disclosure are appropriately addressed in these consolidated financial statements.