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Earnings Per Share (Unaudited)
 9 Months Ended
Sep. 30, 2015
Earnings Per Share [Abstract]  
Earnings Per Share
EARNINGS PER SHARE
FCX’s basic net (loss) income per share of common stock was computed by dividing net (loss) income attributable to common stockholders by the weighted-average shares of common stock outstanding during the period. Diluted net income per share of common stock was computed using the most dilutive of (a) the two-class method or (b) the treasury stock method. Under the two-class method, net income is allocated to each class of common stock and participating securities as if all of the earnings for the period had been distributed. FCX’s participating securities consist of vested restricted stock units (RSUs) for which the underlying common shares are not yet issued and entitle holders to non-forfeitable dividends.

A reconciliation of net (loss) income and weighted-average shares of common stock outstanding for purposes of calculating basic and diluted net (loss) income per share follows (in millions, except per share amounts):
 
Three Months Ended
 
Nine Months Ended
 
 
September 30,
 
September 30,
 
 
2015
 
2014
 
2015
 
2014
 
Net (loss) income
$
(3,790
)
 
$
704

 
$
(7,995
)
 
$
1,990

 
Net income attributable to noncontrolling interests
(29
)
 
(142
)
 
(129
)
 
(416
)
 
Preferred dividends on redeemable noncontrolling interest
(11
)
 
(10
)
 
(31
)
 
(30
)
 
Undistributed earnings allocable to participating securities
(3
)
 
(2
)
 
(3
)
 
(4
)
 
Net (loss) income allocable to common stockholders
$
(3,833
)
 
$
550

 
$
(8,158
)
 
$
1,540

 
 
 
 
 
 
 
 
 
 
Basic weighted-average shares of common stock outstanding
1,071

 
1,039

 
1,050

 
1,039

 
Add shares issuable upon exercise or vesting of dilutive stock options and RSUs
—

a 
7

a 
—

a 
6

a 
Diluted weighted-average shares of common stock outstanding
1,071

 
1,046

 
1,050

 
1,045

 
 
 
 
 
 
 
 
 
 
Basic net (loss) income per share attributable to common stockholders
$
(3.58
)
 
$
0.53

 
$
(7.77
)
 
$
1.48

 
Diluted net (loss) income per share attributable to common stockholders
$
(3.58
)
 
$
0.53

 
$
(7.77
)
 
$
1.47

 
a.
Excludes approximately 7 million shares of common stock for third-quarter 2015, 5 million for third-quarter 2014, 10 million for the nine months ended September 30, 2015, and 3 million for the nine months ended September 30, 2014, 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.

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 stock options totaled 48 million for third-quarter 2015, 25 million for third-quarter 2014, 45 million for the nine months ended September 30, 2015, and 28 million for the nine months ended September 30, 2014.