Earnings per Share

3 Months Ended

Mar. 31, 2026

EARNINGS PER SHARE

FCX calculates its basic net income per share of common stock under the two-class method and calculates its diluted net income per share of common stock using the more dilutive of the two-class method or the treasury-stock method. Basic net income per share of common stock was computed by dividing net income attributable to common stockholders (after deducting accumulated undistributed dividends and earnings allocated to participating securities) by the weighted-average shares of common stock outstanding during the period. Diluted net income per share of common stock was calculated by including the basic weighted-average shares of common stock outstanding adjusted for the effects of all potential dilutive shares of common stock, unless their effect would be antidilutive.

Reconciliations of net income and weighted-average shares of common stock outstanding for purposes of calculating basic and diluted net income per share follow:


	Three Months Ended
	March 31,
		2026			2025
Net income		$	1,387		$	793
Net income attributable to noncontrolling interests		(506)			(441)

Undistributed dividends and earnings allocated to participating securities		(7)			(6)







Net income attributable to common stockholders		$	874		$	346


Basic weighted-average shares of common stock outstanding		1,439			1,438
Add shares issuable upon exercise or vesting of dilutive stock options and restricted stock units (RSUs)		5		a	6
Diluted weighted-average shares of common stock outstanding		1,444			1,444

Net income per share attributable to common stockholders:


Basic		$	0.61		$	0.24



Diluted		$	0.61		$	0.24

a.Excludes approximately 1 million shares of common stock associated with RSUs that were anti-dilutive.

Shares associated with 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. There were no such shares excluded in either of the periods shown above.