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Earnings Per Share (Unaudited) | 3 Months Ended
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Mar. 31, 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 for the three months ended March 31 follows (in millions, except per share amounts):
| Three Months Ended |
| March 31, |
| 2015 |  | 2014 |
Net (loss) income | $ | (2,406 | ) |  | $ | 626 |  |
Net income attributable to noncontrolling interests | (58 | ) |  | (106 | ) |
Preferred dividends on redeemable noncontrolling interest | (10 | ) |  | (10 | ) |
Undistributed earnings allocable to participating securities | (3 | ) |  | (1 | ) |
Net (loss) income allocable to common stockholders | $ | (2,477 | ) |  | $ | 509 |  |
Basic weighted-average shares of common stock outstanding | 1,040 |  |  | 1,038 |  |
Add shares issuable upon exercise or vesting of dilutive stock options and RSUs | — |  | a | 6 |  | a
Diluted weighted-average shares of common stock outstanding | 1,040 |  |  | 1,044 |  |
Basic net (loss) income per share attributable to common stockholders | $ | (2.38 | ) |  | $ | 0.49 |  |
Diluted net (loss) income per share attributable to common stockholders | $ | (2.38 | ) |  | $ | 0.49 |  |
a. | Excludes shares of common stock totaling approximately three million for first-quarter 2015 and two million for first-quarter 2014 associated with outstanding stock options with exercise prices less than the average market price of FCX's common stock and RSU's 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 40 million for first-quarter 2015 and 30 million for first-quarter 2014.

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