Freeport McMoran Inc – ‘10-K’ for 12/31/93 – EX-11.1

As of:  Thursday, 3/31/94   ·   For:  12/31/93   ·   Accession #:  950103-94-1946   ·   File #:  1-08124

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Annual Report   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                         48±   197K 
 2: EX-11.1     Statement re: Computation of Earnings Per Share        1      8K 
 3: EX-12.1     Statement re: Computation of Ratios                    1      8K 
 4: EX-13.1     Annual or Quarterly Report to Security Holders        34±   158K 
 5: EX-18.1     Letter re: Change in Accounting Principles             2±    11K 
 6: EX-21.1     Subsidiaries of the Registrant                         1      5K 
 7: EX-23.1     Consent of Experts or Counsel                          1      6K 
 8: EX-24.1     Power of Attorney                                      1      6K 
 9: EX-24.2     Power of Attorney                                     10±    49K 
10: EX-99.1     Miscellaneous Exhibit                                 42±   173K 
11: EX-99.2     Miscellaneous Exhibit                                 39±   157K 

EX-11.1   —   Statement re: Computation of Earnings Per Share

                                Exhibit 11.1

FREEPORT-McMoRan INC. AND CONSOLIDATED SUBSIDIARIES     
COMPUTATION OF NET INCOME PER COMMON AND      
COMMON EQUIVALENT SHARE     

                                                        [Enlarge/Download Table]

                                                        Years Ended December 31,        
                                                   ---------------------------------    
                                                     1993         1992        1991      
                                                   ---------    --------    --------    
                                                (In Thousands, Except Per Share Amounts)
                                                                                        
Primary:                                                                                
  Net income (loss) applicable to common stock     $(126,203)   $169,134    $ 40,090    
                                                   =========    ========    ========    

  Average common shares outstanding                  140,818     143,641     138,576    
  Common stock equivalents:                                                             
    Stock options                                        777         874       1,050    
                                                   ---------    --------    --------    
  Average common and common equivalent shares        141,595     144,515     139,626    
    outstanding                                    =========    ========    ========    

  Net income (loss) per common and common              $(.89)      $1.17        $.29    
    equvalent share                                    =====       =====        ====    

Fully Diluted:                                                                          
  Net income (loss) applicable to common stock     $(126,203)   $169,134     $40,090    
  Plus preferred dividends                              -            630        -       
  Plus interest, net of tax effect, on convertible                                      
    subordinated debentures                             -           -           -       
                                                   ---------    --------     -------    
  Net income applicable to common stock            $(126,203)   $169,764     $40,090    
                                                   =========    ========     =======    

  Average common shares outstanding                  140,818     143,641     138,576    
  Common stock equivalents:                                                             
    Stock options                                      1,281         882       1,196    
  Convertible securities:                                                               
    Convertible subordinated debentures                 -           -           -       
    Preferred stock                                     -            734        -       
                                                   ---------    --------     -------    
  Average common and common equivalent shares        142,099     145,257     139,772    
    outstanding                                    =========    ========     =======    

  Net income (loss) per common and common              $(.89)      $1.17        $.29    
    equivalent share                                   =====       =====        ====