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Income Taxes (Unaudited)
 9 Months Ended
Sep. 30, 2015
Income Tax Disclosure [Abstract]  
Income Taxes
INCOME TAXES
Variations in the relative proportions of jurisdictional income result in fluctuations to FCX's consolidated effective income tax rate. FCX’s consolidated effective income tax rate was 18 percent for the first nine months of 2015 and 34 percent for the first nine months of 2014. Geographic sources of FCX's benefit from (provision for) income taxes follow (in millions):
 
Three Months Ended
 
Nine Months Ended
 
 
September 30,
 
September 30,
 
 
2015
 
2014
 
2015
 
2014
 
U.S. operations
$
309

a 
$
(38
)
 
$
2,020

a 
$
(323
)
b 
International operations
51

 
(311
)
c 
(278
)
 
(711
)
c 
Total
$
360

 
$
(349
)
 
$
1,742

 
$
(1,034
)
 

a.
As a result of the impairment to U.S. oil and gas properties, FCX recorded tax charges of $1.2 billion for third-quarter 2015 and $2.0 billion for the first nine months of 2015 to establish a valuation allowance primarily against U.S. federal alternative minimum tax credits and foreign tax credits, partly offset by a tax benefit of $56 million related to the impairment of the Morocco oil and gas properties. Excluding these charges, FCX's consolidated effective income tax rate was 38 percent for the first nine months of 2015.
b.
FCX recognized a $62 million charge for deferred taxes recorded in connection with the allocation of goodwill to the sale of Eagle Ford shale assets.
c.
Included a $54 million charge related to changes in Chilean tax rules.
During third-quarter 2015, PT Freeport Indonesia's (PT-FI) Delaware domestication was terminated. As a result, PT-FI will no longer be a U.S. income tax filer, and tax attributes related to PT-FI, which currently are fully reserved with a related valuation allowance, will no longer be available for use within FCX's U.S. federal consolidated income tax return. PT-FI remains a limited liability company organized under Indonesian law.