Number of shares of MMR common stock acquired (millions) | 112.362 | a | ||
Cash consideration of $14.75 per share | $ | 14.75 | ||
Cash consideration paid by FCX | $ | 1,657 | ||
Employee stock-based awards | 63 | |||
Total | 1,720 | |||
Fair value of FCX's investment in 51 million shares of MMR common stock acquired on | ||||
May 31, 2013, through the acquisition of PXP | 854 | |||
Fair value of FCX's investment in MMR's 5.75% Convertible Perpetual Preferred Stock, Series 2 | 554 | |||
Total purchase price | $ | 3,128 | ||
a. | Excluded 51 million shares of MMR common stock owned by FCX through its acquisition of PXP on May 31, 2013. |
Number of shares of PXP common stock acquired (millions) | 132.280 | |||
Exchange ratio of FCX common stock for each PXP share | 0.6531 | |||
86.392 | ||||
Shares of FCX common stock issued for certain PXP equity awards (millions) | 4.769 | |||
Total shares of FCX common stock issued (millions) | 91.161 | |||
Closing share price of FCX common stock at May 31, 2013 | $ | 31.05 | ||
FCX stock consideration | $ | 2,831 | ||
Cash consideration | 3,725 | a | ||
Employee stock-based awards, primarily cash-settled stock-based awards | 83 | |||
Total purchase price | $ | 6,639 | ||
a. | Cash consideration included the payment of $25.00 in cash for each PXP share ($3.3 billion), cash paid in lieu of any fractional shares of FCX common stock, cash paid for certain equity awards ($7 million), and the value of the $3 per share PXP special cash dividend ($411 million) paid on May 31, 2013. |