A reconciliation of net income (loss) and weighted-average shares of common stock outstanding for purposes of calculating basic and diluted net income (loss) per share follows (in millions, except per share amounts):



	Three Months Ended							Six Months Ended
	June 30,							June 30,
	2017			2016				2017			2016
Net income (loss) from continuing operations	$	326		$	(229	)		$	594		$	(4,326	)
Net income from continuing operations attributable to noncontrolling interests	(66		)	(47		)		(141		)	(109		)
Preferred dividends on redeemable noncontrolling interest	—			(10		)		—			(21		)
Undistributed earnings allocated to participating securities	(3		)	(3		)		(3		)	(3		)
Net income (loss) from continuing operations attributable to common stockholders	$	257		$	(289	)		$	450		$	(4,459	)

Net income (loss) from discontinued operations	$	9		$	(181	)		$	47		$	(185	)
Net income from discontinued operations attributable to noncontrolling interests	(1		)	(12		)		(4		)	(22		)
Net income (loss) from discontinued operations attributable to common stockholders	$	8		$	(193	)		$	43		$	(207	)


Net income (loss) attributable to common stockholders	$	265		$	(482	)		$	493		$	(4,666	)


Basic weighted-average shares of common stock outstanding	1,447			1,269				1,447			1,260
Add shares issuable upon exercise or vesting of dilutive stock options and restricted stock units	6			—			^a	6			—			^a
Diluted weighted-average shares of common stock outstanding	1,453			1,269				1,453			1,260

Basic and diluted net income (loss) per share attributable to common stockholders:
Continuing operations	$	0.18		$	(0.23	)		$	0.31		$	(3.54	)
Discontinued operations	—			(0.15		)		0.03			(0.16		)
	$	0.18		$	(0.38	)		$	0.34		$	(3.70	)


a.	Excludes 12 million shares of common stock for second-quarter 2016 and 11 million for the first six months of 2016 associated with outstanding stock options with exercise prices less than the average market price of FCX’s common stock and restricted stock units that were anti-dilutive.