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DISPOSITIONS AND ACQUISITIONS Acquisitions (Details)
 1 Months Ended 3 Months Ended 6 Months Ended 7 Months Ended 12 Months Ended
Jun. 30, 2013
USD ($)
May 31, 2013
USD ($)
$ / shares
$ / bbl
shares
Dec. 31, 2015
USD ($)
Sep. 30, 2015
USD ($)
Jun. 30, 2015
USD ($)
Mar. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
$ / bbl
Sep. 30, 2014
USD ($)
Jun. 30, 2014
USD ($)
Mar. 31, 2014
USD ($)
Dec. 31, 2013
USD ($)
Mar. 31, 2013
USD ($)
Jun. 30, 2014
USD ($)
Dec. 31, 2013
USD ($)
Dec. 31, 2015
USD ($)
$ / shares
Dec. 31, 2014
USD ($)
$ / shares
$ / bbl
shares
Dec. 31, 2013
USD ($)
$ / shares
Dec. 31, 2012
USD ($)
Dec. 31, 2011
USD ($)
ft
$ / shares
shares
Sep. 08, 2014
USD ($)
Jun. 03, 2013
USD ($)
$ / shares
shares
Mar. 29, 2013
USD ($)
Mar. 07, 2013
USD ($)
Feb. 14, 2013
USD ($)
Business Acquisition [Line Items]                                                
Royalty Trust Units, Fair Value Disclosure                                         $ 31,000,000      
Redeemable noncontrolling interest     $ 764,000,000       $ 751,000,000               $ 764,000,000 $ 751,000,000         $ 259,000,000      
Goodwill impairment             1,700,000,000               $ 0 $ 1,717,000,000 $ 0              
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent                           3.00% 1.00% 14.00% (1.00%)              
Goodwill                 $ 1,938,000,000       $ 1,938,000,000                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net                 6,981,000,000       6,981,000,000                      
Business Combination, Recognized Temporary Equity                 967,000,000       967,000,000                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other                 1,061,000,000       1,061,000,000                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent [1]                 3,917,000,000       3,917,000,000                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt                 11,251,000,000       11,251,000,000                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities                 1,080,000,000       1,080,000,000                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets                 394,000,000       394,000,000                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment                 262,000,000       262,000,000                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Oil and Gas Properties, Not Subject to Depletion                 11,112,000,000   $ 11,100,000,000   11,112,000,000 $ 11,100,000,000     $ 11,100,000,000              
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Oil and Gas Properties, Subject to Depletion                 12,198,000,000   12,200,000,000   12,198,000,000 12,200,000,000     12,200,000,000              
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets                 1,291,000,000       1,291,000,000                      
Payments of Dividends                             $ 725,000,000 $ 1,729,000,000 $ 2,537,000,000              
Common Stock, Dividends, Per Share, Declared | $ / shares                             $ 0.2605 $ 1.25 $ 2.25              
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net                 8,919,000,000       8,919,000,000                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Marketable Securities [2]                 0       0                      
Payments for Repurchase of Preferred Stock and Preference Stock                             $ 0 $ 0 $ 228,000,000              
Royalty Trust Units Issued, Conversion of Debt or Equity Instrument                                 17,700,000              
Gain on investment in McMoRan Exploration Co. (MMR)                             0 0 $ 128,000,000              
Revenues     3,516,000,000 [3] $ 3,382,000,000 [3] $ 3,938,000,000 [3] $ 3,771,000,000 [3] 4,869,000,000 [4] $ 5,317,000,000 [4] 5,136,000,000 [4] $ 4,679,000,000 [4]         14,607,000,000 [3],[5] 20,001,000,000 [4],[5] 19,331,000,000 [5]              
Operating income     (4,097,000,000) [6],[7],[8] (3,964,000,000) [6],[7],[8] (2,421,000,000) [6],[7],[8] (3,030,000,000) [6],[7],[8] (3,394,000,000) [9],[10] 1,033,000,000 [9],[10] 1,042,000,000 $ 1,021,000,000         (13,512,000,000) [6],[7],[8] (298,000,000) [9],[10] 4,820,000,000              
Income Tax Expense (Benefit), Changes in Deferred Tax Liabilities and Deferred Tax Asset Valuation Allowances     1,400,000,000 $ 1,100,000,000 $ 305,000,000 $ 458,000,000 22,000,000 $ 5,000,000 57,000,000           3,300,000,000 84,000,000 190,000,000              
Gain (Loss) on Disposition of Oil and Gas Property                                 $ 77,000,000              
8% Convertible Perpetual Preferred Stock [Member]                                                
Business Acquisition [Line Items]                                                
Preferred Stock, Dividend Rate, Percentage                                 8.00%              
5.75% Convertible Perpetual Preferred Stock, Series 1 [Member]                                                
Business Acquisition [Line Items]                                                
Preferred Stock, Dividend Rate, Percentage                                 5.75%              
Plains Exploration & Production Company and McMoRan Exploration Co [Member]                                                
Business Acquisition [Line Items]                                                
Goodwill impairment                               1,717,000,000                
Adjustment to Goodwill                 22,000,000             22,000,000 $ 1,916,000,000              
Business Combination, Adjustment to Recognized Identifiable Assets Acquired And Liabilities Assumed Other Noncurrent Assets                 42,000,000                              
Goodwill             $ 0       1,916,000,000     1,916,000,000   0 $ 1,916,000,000 $ 0            
Business Combination, Adjustment to Recognized Identifiable Assets Acquired and Liabilities Assumed Oil and Gas Properties Subject to Depletion                 5,000,000                              
Business Combination, Adjustment to Recognized Identifiable Assets Acquired and Liabilities Assumed Oil and Gas Properties Not Subject to Depletion                 25,000,000                              
Kokkola Cobalt Chemicals Refinery [Member]                                                
Business Acquisition [Line Items]                                                
Business Acquisition, Effective Date of Acquisition                       Mar. 29, 2013                        
Payments to Acquire Businesses, Gross                       $ 34,000,000                        
Company's direct ownership percentage                                           56.00%    
Business Combination, Consideration Transferred                       $ 382,000,000                        
Business Acquisition, Cash Consideration Funding Percentage                                           70.00%    
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High                                           $ 110,000,000    
Buisness Combination, Term of Contingent Consideration                                 3 years              
Eagle Ford [Member]                                                
Business Acquisition [Line Items]                                                
Adjustment to Goodwill                               (221,000,000)                
Deposits                                       $ 414,000,000        
Deepwater Gulf of Mexico Interests [Member]                                                
Business Acquisition [Line Items]                                                
Business Acquisition, Effective Date of Acquisition               Sep. 08, 2014                                
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Asset Retirement Costs                         10,000,000                      
Business Combination, Consideration Transferred               $ 496,000,000         918,000,000                      
Business Combination, Adjustment to Recognized Identifiable Assets Acquired and Liabilities Assumed Oil and Gas Properties Subject to Depletion               $ 509,000,000         451,000,000                      
Business Combination, Adjustment to Recognized Identifiable Assets Acquired and Liabilities Assumed Oil and Gas Properties Not Subject to Depletion                         477,000,000                      
Intersubsegment Eliminations [Member]                                                
Business Acquisition [Line Items]                                                
Goodwill                 0       0                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net                 (848,000,000)       (848,000,000)                      
Business Combination, Recognized Temporary Equity                 0       0                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other                 0       0                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent [1]                 0       0                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt                 0       0                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities                 0       0                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets                 0       0                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment                 0       0                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Oil and Gas Properties, Not Subject to Depletion                 0       0                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Oil and Gas Properties, Subject to Depletion                 0       0                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets                 0       0                      
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net                 (848,000,000)       (848,000,000)                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Marketable Securities [2]                 (848,000,000)       (848,000,000)                      
Plains Exploration & Production Company [Member]                                                
Business Acquisition [Line Items]                                                
Goodwill                 438,000,000       438,000,000                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net                 6,201,000,000       6,201,000,000                      
Business Combination, Recognized Temporary Equity                 708,000,000       708,000,000                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other                 799,000,000       799,000,000                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent [1]                 3,917,000,000       3,917,000,000                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt                 10,631,000,000       10,631,000,000                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities                 906,000,000       906,000,000                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets                 12,000,000       12,000,000                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment                 261,000,000       261,000,000                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Oil and Gas Properties, Not Subject to Depletion                 9,401,000,000       9,401,000,000                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Oil and Gas Properties, Subject to Depletion                 11,447,000,000       11,447,000,000                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets                 1,193,000,000       1,193,000,000                      
Business Acquisition, Effective Date of Acquisition   May 31, 2013                             May 31, 2013              
Dividends Payable, Date to be Paid   May 31, 2013                                            
Business Acquisition, Agreed-Upon Equity Interest Issued or Issuable, Number of Shares Per Share of Target Company | shares   0.6531                                            
Business Acquisitions, Agreed-Upon Cost of Entity Acquired, Cash Paid Per Share | $ / shares   $ 25.00                                            
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares   91,161,000                                            
Payments to Acquire Businesses, Gross   $ 3,800,000,000                                            
Payments of Dividends   $ 411,000,000                                            
Common Stock, Dividends, Per Share, Declared | $ / shares   $ 3                                            
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net   $ 6,639,000,000             6,639,000,000       6,639,000,000                      
Common Stock, Shares, Outstanding | shares   132,280,000                                            
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares Excluding Shares Related to Employee Stock-based Awards | shares   86,392,000                                            
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares Related to Employee Stock-based Awards | shares   4,769,000                                            
Share Price | $ / shares   $ 31.05                                            
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable   $ 2,831,000,000                                            
Payment to Acquire Businesses, Excluding Payments for Employee Stock-based Awards [11]   3,725,000,000                                            
Other Payments to Acquire Businesses   83,000,000                                            
Payment to Acquire Businesses, Per Share Consideration, Total   3,300,000,000                                            
Payment to Acquire Businesses, Consideration for Equity Awards   $ 7,000,000                                            
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Marketable Securities [2]                 848,000,000       848,000,000                      
Deferred Finance Costs, Noncurrent, Net                     $ 96,000,000     96,000,000     $ 96,000,000              
McMoRan Exploration Co [Member]                                                
Business Acquisition [Line Items]                                                
Goodwill                 1,500,000,000       1,500,000,000                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net                 1,628,000,000       1,628,000,000                      
Business Combination, Recognized Temporary Equity                 259,000,000       259,000,000                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other                 262,000,000       262,000,000                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent [1]                 0       0                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt                 620,000,000       620,000,000                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities                 174,000,000       174,000,000                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets                 382,000,000       382,000,000                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment                 1,000,000       1,000,000                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Oil and Gas Properties, Not Subject to Depletion                 1,711,000,000       1,711,000,000                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Oil and Gas Properties, Subject to Depletion                 751,000,000       751,000,000                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets                 98,000,000       98,000,000                      
Business Acquisition, Effective Date of Acquisition                                 Jun. 03, 2013              
Business Acquisitions, Agreed-Upon Cost of Entity Acquired, Cash Paid Per Share | $ / shares                                         $ 14.75      
Payments to Acquire Businesses, Gross $ 1,720,000,000                                              
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net                 3,128,000,000       3,128,000,000               $ 3,128,000,000      
Share Price | $ / shares   $ 16.63                                     $ 16.75      
Payment to Acquire Businesses, Excluding Payments for Employee Stock-based Awards 1,657,000,000                                              
Other Payments to Acquire Businesses $ 63,000,000                                              
Buinsess Acquisition, Agreed-Upon Royalty Trust Units Issued or Issuable, Per Share of Target Company 1.15                                              
Royalty Interest in Future Production                                         5.00%      
Business Acquisition, Date of Acquisition Agreement                                   Dec. 05, 2012            
Investment Owned, Balance, Shares | shares   51,000,000                                            
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Marketable Securities   $ 848,000,000             0 [2]       $ 0 [2]                      
Number Of Shares Of Investee Preferred Stock Purchased | shares   500,000                                            
Preferred Stock, Dividend Rate, Percentage   5.75%                                            
Cost-method investment   $ 432,000,000                                            
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value $ 1,400,000,000                                              
Gain on investment in McMoRan Exploration Co. (MMR)                 $ 128,000,000                              
McMoRan Exploration Co [Member] | Common Stock [Member]                                                
Business Acquisition [Line Items]                                                
Common Stock, Shares, Outstanding | shares [12]                                         112,362,000.000      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Marketable Securities                                         $ 854,000,000      
McMoRan Exploration Co [Member] | 5.75% Convertible Perpetual Preferred Stock, Series 2 [Member]                                                
Business Acquisition [Line Items]                                                
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Marketable Securities                                         $ 554,000,000      
Senior Notes [Member]                                                
Business Acquisition [Line Items]                                                
Debt Instrument, Face Amount                                             $ 6,500,000,000  
Proceeds from Issuance of Long-term Debt                               $ 2,970,000,000 $ 6,400,000,000 $ 2,470,000,000            
Bank Term Loan [Member]                                                
Business Acquisition [Line Items]                                                
Debt Instrument, Face Amount     $ 4,000,000,000                       $ 4,000,000,000                 $ 4,000,000,000
Term of Debt Agreement                     5 years                          
Tenke [Member]                                                
Business Acquisition [Line Items]                                                
Company's direct ownership percentage     56.00%                       56.00%                  
Plains Offshore Operations Inc. [Member]                                                
Business Acquisition [Line Items]                                                
Redeemable noncontrolling interest   $ 708,000,000                                            
Common Stock Held In Escrow | shares                                     87,000,000          
Dividends Payable                     $ 47,000,000     $ 47,000,000     $ 47,000,000              
Preferred Stock Dividend Rate Percentage Deferred                                 2.00%              
Preferred Stock Quarterly Cash Dividend Annual Rate Percentage                                 8.00%              
Equity Interest Held By Outside Party, Percent                                     20.00%          
Nondetachable Warrants | shares                               500,000     9,100,000          
Class of Warrants or Rights, Exercise Price of Warrants or Rights | $ / shares                                     $ 20          
Proceeds from Issuance of Convertible Preferred Stock                               $ 24,000,000     $ 450,000,000          
Preferred Stock Of Subsidiary | shares                               24,000     450,000          
Maximum [Member]                                                
Business Acquisition [Line Items]                                                
Fair Value Inputs, Energy Measure | $ / bbl   98         80                 80                
Minimum [Member]                                                
Business Acquisition [Line Items]                                                
Fair Value Inputs, Energy Measure | $ / bbl   90         62                 62                
Minimum [Member] | Plains Offshore Operations Inc. [Member]                                                
Business Acquisition [Line Items]                                                
Depth of Oil and Gas Properties | ft                                     500          
Oil and Gas Operations Segment [Member]                                                
Business Acquisition [Line Items]                                                
Goodwill impairment [13]                               $ 1,717,000,000                
Revenues                             $ 1,994,000,000 [13],[14] 4,710,000,000 [13],[14] $ 2,616,000,000 [15]              
Operating income                             $ (14,189,000,000) [13] $ (4,479,000,000) [13] 450,000,000              
Business Combination, Acquisition Related Costs                                 $ 74,000,000              
La Generale des Carrieres et des Mines [Member] | Kokkola Cobalt Chemicals Refinery [Member]                                                
Business Acquisition [Line Items]                                                
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners                                           20.00%    
Lundin Mining Corporation [Member] | Kokkola Cobalt Chemicals Refinery [Member]                                                
Business Acquisition [Line Items]                                                
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners                                           24.00%    
Business Acquisition, Cash Consideration Funding Percentage                                           30.00%    
[1] Deferred income taxes have been recognized based on the estimated fair value adjustments to net assets using a 38 percent tax rate, which reflected a 35 percent federal statutory rate and a 3 percent weighted-average of the applicable statutory state tax rates (net of federal benefit).
[2] PXP owned 51 million shares of MMR common stock, which were eliminated in FCX's consolidated balance sheet at the acquisition date of MMR.
[3] Includes charges of $48 million ($30 million to net loss attributable to common stockholders or $0.03 per share) in the first quarter, $95 million ($59 million to net loss attributable to common stockholders or $0.06 per share) in the second quarter, $74 million ($46 million to net loss attributable to common stockholders or $0.04 per share) in the third quarter, $102 million ($63 million to net loss attributable to common stockholders or $0.05 per share) in the fourth quarter and $319 million ($198 million to net loss attributable to common stockholders or $0.18 per share) for the year for net noncash mark-to-market losses on crude oil derivative contracts.
[4] Includes credits (charges) of $15 million ($9 million to net income attributable to common stockholders or $0.01 per share) in the first quarter, $(7) million ($(4) million to net income attributable to common stockholders) in the second quarter, $122 million ($76 million to net income attributable to common stockholders or $0.07 per share) in the third quarter, $497 million ($309 million to net loss attributable to common stockholders or $0.30 per share) in the fourth quarter and $627 million ($389 million to net loss attributable to common stockholders or $0.37 per share) for the year for net noncash mark-to-market gains (losses) on crude oil and natural gas derivative contracts.
[5] Revenues are attributed to countries based on the location of the customer.
[6] Includes charges at oil and gas operations of $17 million ($10 million to net loss attributable to common stockholders or $0.01 per share) in the first quarter, $22 million ($14 million to net loss attributable to common stockholders or $0.01 per share) in the second quarter, $21 million ($13 million to net loss attributable to common stockholders or $0.01 per share) in the third quarter, $129 million ($81 million to net loss attributable to common stockholders or $0.07 per share) in the fourth quarter and $188 million ($117 million to net loss attributable to common stockholders or $0.11 per share) for the year for other asset impairments and inventory write-downs, idle/terminated rig costs and prior year non-income tax assessments related to the California properties.
[7] Includes charges from continuing mining operations of $4 million ($3 million to net loss attributable to common stockholders) in the first quarter, $59 million ($38 million to net loss attributable to common stockholders or $0.04 per share) in the second quarter, $91 million ($58 million to net loss attributable to common stockholders or $0.05 per share) in the third quarter, $184 million ($118 million to net loss attributable to common stockholders or $0.10 per share) in the fourth quarter and $338 million ($217 million to net loss attributable to common stockholders or $0.20 per share) for the year associated with inventory adjustments to copper and molybdenum inventories. Additionally, includes charges from continuing mining operations of $92 million ($56 million to net loss attributable to common stockholders or $0.05 per share) in the third quarter, $53 million ($34 million to net loss attributable to common stockholders or $0.03 per share) in the fourth quarter and $145 million ($90 million to net loss attributable to common stockholders or $0.08 per share) for the year associated with impairments, restructuring and other net charges.
[8] Includes charges of $3.1 billion ($2.4 billion to net loss attributable to common stockholders or $2.31 per share) in the first quarter, $2.7 billion ($2.0 billion to net loss attributable to common stockholders or $1.90 per share) in the second quarter, $3.7 billion ($3.5 billion to net loss attributable to common stockholders or $3.25 per share) in the third quarter, $3.7 billion ($3.7 billion to net loss attributable to common stockholders or $3.18 per share) in the fourth quarter and $13.1 billion ($11.6 billion to net loss attributable to common stockholders or $10.72 per share) for the year to reduce the carrying value of oil and gas properties pursuant to full cost accounting rules. Additionally, after-tax impacts to net loss include net tax charges of $458 million ($0.44 per share) in the first quarter, $305 million ($0.29 per share) in the second quarter, $1.1 billion ($1.07 per share) in the third quarter, $1.4 billion ($1.21 per share) in the fourth quarter and $3.3 billion ($3.09 per share) for the year to establish a valuation allowance primarily against U.S. federal alternative minimum tax credits and foreign tax credits, partly offset by a tax benefit related to the impairment of the Morocco oil and gas properties in the third quarter.
[9] Includes charges of $308 million ($192 million to net income attributable to common stockholders or $0.18 per share) in the third quarter, $3.4 billion ($2.1 billion to net loss attributable to common stockholders or $2.05 per share) in the fourth quarter and $3.7 billion ($2.3 billion to net loss attributable to common stockholders or $2.24 per share) for the year to reduce the carrying value of oil and gas properties pursuant to full cost accounting rules. Additionally, includes charges at the oil and gas operations in the fourth quarter and for the year of (i) $1.7 billion ($1.7 billion to net loss attributable to common stockholders or $1.65 per share) for the impairment of the full carrying value of goodwill and (ii) $46 million ($29 million to net loss attributable to common stockholders or $0.03 per share) for idle/terminated rig costs and inventory write-downs.
[10] Includes net gains of $46 million ($31 million to net income attributable to common stockholders or $0.03 per share) in the third quarter, $671 million ($450 million to net loss attributable to common stockholders or $0.43 per share) in the fourth quarter and $717 million ($481 million to net loss attributable to common stockholders or $0.46 per share) for the year primarily from the sale of the Candelaria and Ojos del Salado copper mining operations in the fourth quarter (refer to Note 2 for further discussion) and the sale of a metals injection molding plant in the third quarter.
[11] Cash consideration includes 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.
[12] Excludes 51 million shares of MMR common stock owned by FCX through its acquisition of PXP on May 31, 2013.
[13] Includes the results of Eagle Ford prior to its sale in June 2014.
[14] Includes net mark-to-market gains associated with crude oil and natural gas derivative contracts totaling $87 million in 2015 and $505 million in 2014.
[15] Includes net mark-to-market losses associated with crude oil and natural gas derivative contracts totaling $334 million for the period from June 1, 2013, to December 31, 2013