Phelps Dodge said it will write off $195 million.

The pretax charge against fourth-quarter earnings reflects its effort to restructure the ailing copper concern, the New York-based firm reported. The charge partly reflects Phelps Dodge’s decision to dispose of its energy operations and certain other assets. The charge also covers write-offs of smelter equipment and facilities that have been rendered obsolete, the shutdown of certain operations and pension, retirement and other employee-benefit costs resulting from the restructuring, the company said.