Earnings per Share (Unaudited) Earnings per Share (Tables)

9 Months Ended

Sep. 30, 2021

Reconciliation of net income (loss) and weighted-average shares of common stock outstanding

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


	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2021		2020			2021		2020
Net income	$	1,723	$	432		$	4,007	$	7
Net income attributable to noncontrolling interests	(324)		(103)			(807)		(116)

Undistributed earnings allocated to participating securities	(4)		(3)			(6)		(3)







Net income (loss) attributable to common stockholders	$	1,395	$	326		$	3,194	$	(112)


Basic weighted-average shares of common stock outstanding	1,469		1,453			1,466		1,453
Add shares issuable upon exercise or vesting of dilutive stock options and restricted stock units (RSUs)	15		8		a	15		—		a
Diluted weighted-average shares of common stock outstanding	1,484		1,461			1,481		1,453




Basic net income (loss) per share attributable to common stockholders	$	0.95	$	0.22		$	2.18	$	(0.08)



Diluted net income (loss) per share attributable to common stockholders	$	0.94	$	0.22		$	2.16	$	(0.08)

a.Excludes approximately 2 million shares in third-quarter 2020 and 13 million shares for the first nine months of 2020 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.