10-Q Filing

SOUTHERN COPPER CORP/ CIK: 1001838 Q1 2011

Filing Information

Form Type	10-Q
Accession Number	`0001104659-11-026837`
Period End Date	20110331
Filing Date	20110506
Fiscal Year	2011
Fiscal Period	Q1
XBRL Instance	scco-20110331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 42 Cash Flow Statement 53 Comprehensive Income 11

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable from affiliates (in dollars)	`DueFromRelatedPartiesCurrent`	$4.61M	USD	Point-in-time
Accounts receivable from affiliates (in dollars)	`DueFromRelatedPartiesCurrent`	$32.70M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$772.31M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.19B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$651.96M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.97B	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$220.71M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$76.21M	USD	Point-in-time
Accounts receivable trade	`AccountsReceivableNetCurrent`	$597.40M	USD	Point-in-time
Accounts receivable trade	`AccountsReceivableNetCurrent`	$671.75M	USD	Point-in-time
Accounts receivable other (including affiliates 2011 - $4,606 and 2010 - $32,700)	`OtherReceivables`	$76.25M	USD	Point-in-time
Accounts receivable other (including affiliates 2011 - $4,606 and 2010 - $32,700)	`OtherReceivables`	$76.28M	USD	Point-in-time
Inventories	`InventoryNet`	$628.99M	USD	Point-in-time
Inventories	`InventoryNet`	$540.99M	USD	Point-in-time
Deferred income tax	`DeferredTaxAssetsNetCurrent`	$77.07M	USD	Point-in-time
Deferred income tax	`DeferredTaxAssetsNetCurrent`	$63.94M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$95.12M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$117.17M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.74B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.67B	USD	Point-in-time
Property, net	`PropertyPlantAndEquipmentNet`	$4.09B	USD	Point-in-time
Property, net	`PropertyPlantAndEquipmentNet`	$4.10B	USD	Point-in-time
Long-term leach stockpiles	`OtherInventoryNoncurrent`	$43.33M	USD	Point-in-time
Long-term leach stockpiles	`OtherInventoryNoncurrent`	$29.67M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$111.83M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$112.35M	USD	Point-in-time
Deferred income tax	`DeferredTaxAssetsNetNoncurrent`	$78.75M	USD	Point-in-time
Deferred income tax	`DeferredTaxAssetsNetNoncurrent`	$43.90M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$108.10M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$126.77M	USD	Point-in-time
Total assets	`Assets`	$8.12B	USD	Point-in-time
Total assets	`Assets`	$8.13B	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$10.00M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$10.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$558.66M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$591.08M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$266.24M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$204.76M	USD	Point-in-time
Due to affiliated companies	`DueToRelatedPartiesCurrent`	$4.67M	USD	Point-in-time
Due to affiliated companies	`DueToRelatedPartiesCurrent`	$4.89M	USD	Point-in-time
Accrued workers' participation	`AccruedWorkersParticipation`	$222.43M	USD	Point-in-time
Accrued workers' participation	`AccruedWorkersParticipation`	$166.95M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$60.06M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$62.55M	USD	Point-in-time
Other accrued liabilities	`OtherLiabilitiesCurrent`	$24.68M	USD	Point-in-time
Other accrued liabilities	`OtherLiabilitiesCurrent`	$16.96M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.06B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.14B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$2.75B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$2.75B	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$113.23M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$139.42M	USD	Point-in-time
Non-current taxes payable	`LiabilityForUncertainTaxPositionsNoncurrent`	$77.83M	USD	Point-in-time
Non-current taxes payable	`LiabilityForUncertainTaxPositionsNoncurrent`	$77.83M	USD	Point-in-time
Other liabilities and reserves	`OtherLiabilitiesNoncurrent`	$75.60M	USD	Point-in-time
Other liabilities and reserves	`OtherLiabilitiesNoncurrent`	$78.07M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$59.06M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$59.92M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$3.10B	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$3.08B	USD	Point-in-time
Common stock	`CommonStockValue`	$8.85M	USD	Point-in-time
Common stock	`CommonStockValue`	$8.85M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.03B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.04B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.58B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.60B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-60.70M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-126.42M	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$630.64M	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$622.72M	USD	Point-in-time
Total SCC stockholders' equity	`StockholdersEquity`	$3.94B	USD	Point-in-time
Total SCC stockholders' equity	`StockholdersEquity`	$3.89B	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$19.96M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$19.45M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.91B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.96B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$8.13B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$8.12B	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueMineralSales`	$1.22B	USD	1 Quarter
Net sales	`RevenueMineralSales`	$1.60B	USD	1 Quarter
Cost of sales (exclusive of depreciation, amortization and depletion shown separately below)	`CostOfRevenue`	$510.98M	USD	1 Quarter
Cost of sales (exclusive of depreciation, amortization and depletion shown separately below)	`CostOfRevenue`	$736.86M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$21.72M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$24.57M	USD	1 Quarter
Depreciation, amortization and depletion	`DepreciationDepletionAndAmortization`	$70.64M	USD	1 Quarter
Depreciation, amortization and depletion	`DepreciationDepletionAndAmortization`	$69.47M	USD	1 Quarter
Exploration	`ExplorationExpenseMining`	$8.46M	USD	1 Quarter
Exploration	`ExplorationExpenseMining`	$7.22M	USD	1 Quarter
Total operating costs and expenses	`CostsAndExpenses`	$610.63M	USD	1 Quarter
Total operating costs and expenses	`CostsAndExpenses`	$839.29M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$608.77M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$762.73M	USD	1 Quarter
Interest expense	`InterestCostsIncurred`	$47.56M	USD	1 Quarter
Interest expense	`InterestCostsIncurred`	$23.79M	USD	1 Quarter
Capitalized interest	`InterestCostsCapitalized`	$-936.00K	USD	1 Quarter
Loss on debt prepayment	`GainsLossesOnExtinguishmentOfDebt`	$-1.36M	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$780.00K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$1.43M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.71M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.05M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$718.23M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$588.47M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$238.08M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$203.24M	USD	1 Quarter
Net income	`ProfitLoss`	$385.23M	USD	1 Quarter
Net income	`ProfitLoss`	$480.15M	USD	1 Quarter
Less: Net income attributable to the non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$1.77M	USD	1 Quarter
Less: Net income attributable to the non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$1.98M	USD	1 Quarter
Net income attributable to SCC	`NetIncomeLoss`	$383.24M	USD	1 Quarter
Net income attributable to SCC	`NetIncomeLoss`	$478.38M	USD	1 Quarter
Net earnings - basic (in dollars per share)	`EarningsPerShareBasic`	$0.56	USD	1 Quarter
Net earnings - basic (in dollars per share)	`EarningsPerShareBasic`	$0.45	USD	1 Quarter
Net earnings - diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.56	USD	1 Quarter
Net earnings - diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.45	USD	1 Quarter
Dividends paid to SCC common shareholders (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.58	USD	1 Quarter
Dividends paid to SCC common shareholders (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.43	USD	1 Quarter
Weighted average shares outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	850.00M	shares	1 Quarter
Weighted average shares outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	850.00M	shares	1 Quarter
Weighted average shares outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	850.00M	shares	1 Quarter
Weighted average shares outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	850.00M	shares	1 Quarter

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$385.23M	USD	1 Quarter
Net income	`ProfitLoss`	$480.15M	USD	1 Quarter
Depreciation, amortization and depletion	`DepreciationDepletionAndAmortization`	$70.64M	USD	1 Quarter
Depreciation, amortization and depletion	`DepreciationDepletionAndAmortization`	$69.47M	USD	1 Quarter
Remeasurement loss (income)	`ForeignCurrencyTransactionGainLossUnrealized`	$-8.36M	USD	1 Quarter
Remeasurement loss (income)	`ForeignCurrencyTransactionGainLossUnrealized`	$-8.18M	USD	1 Quarter
Provision (benefit) for deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$5.85M	USD	1 Quarter
Provision (benefit) for deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-37.74M	USD	1 Quarter
Gain on sale of property	`GainLossOnSaleOfProperty`	$1.60M	USD	1 Quarter
Gain on sale of property	`GainLossOnSaleOfProperty`	$718.00K	USD	1 Quarter
Gain on sale of short-term investment	`GainLossOnSaleOfInvestments`	$275.00K	USD	1 Quarter
Gain on sale of short-term investment	`GainLossOnSaleOfInvestments`	$519.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsAndOtherReceivables`	$57.35M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-74.37M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$10.88M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$88.00M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-24.25M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-106.61M	USD	1 Quarter
Other operating assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-32.72M	USD	1 Quarter
Other operating assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-15.28M	USD	1 Quarter
Net cash provided from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$307.24M	USD	1 Quarter
Net cash provided from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$515.07M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$72.99M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$75.36M	USD	1 Quarter
(Purchase of) proceeds from short-term investments, net	`PaymentsForProceedsFromShortTermInvestments`	$-3.39M	USD	1 Quarter
(Purchase of) proceeds from short-term investments, net	`PaymentsForProceedsFromShortTermInvestments`	$144.63M	USD	1 Quarter
Payments to development stage properties accounted for as equity method investments	`PaymentsToAcquireEquityMethodInvestments`	$11.32M	USD	1 Quarter
Sale of property	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$723.00K	USD	1 Quarter
Sale of property	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$4.81M	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-228.21M	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-67.17M	USD	1 Quarter
Debt repaid	`RepaymentsOfLongTermDebt`	$5.25M	USD	1 Quarter
Loss on debt prepayment	`PremiumOnDebtPrepayment`	$-1.36M	USD	1 Quarter
Dividends paid to common stockholders	`PaymentsOfDividendsCommonStock`	$493.00M	USD	1 Quarter
Dividends paid to common stockholders	`PaymentsOfDividendsCommonStock`	$365.50M	USD	1 Quarter
Distributions to non-controlling interest	`PaymentsOfDividendsMinorityInterest`	$1.15M	USD	1 Quarter
Distributions to non-controlling interest	`PaymentsOfDividendsMinorityInterest`	$2.19M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$142.00K	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$75.00K	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-366.57M	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-501.67M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-4.57M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$6.16M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-120.34M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-219.38M	USD	1 Quarter
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$772.31M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.19B	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$651.96M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.97B	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$772.31M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.19B	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$651.96M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.97B	USD	Point-in-time

Comprehensive Income 11 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$385.23M	USD	1 Quarter
Net income	`ProfitLoss`	$480.15M	USD	1 Quarter
Unrealized gain for the period	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$43.78M	USD	1 Quarter
Less: Reclassification adjustment for losses included in net income	`OtherComprehensiveIncomeReclassificationAdjustmentOnDerivativesIncludedInNetIncomeNetOfTax`	$-21.95M	USD	1 Quarter
Unrealized loss on derivative instruments classified as cash flow hedges	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecrease`	$65.73M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$545.87M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$385.23M	USD	1 Quarter
Comprehensive income attributable to the non-controlling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$1.95M	USD	1 Quarter
Comprehensive income attributable to the non-controlling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$1.98M	USD	1 Quarter
Comprehensive income attributable to SCC	`ComprehensiveIncomeNetOfTax`	$543.92M	USD	1 Quarter
Comprehensive income attributable to SCC	`ComprehensiveIncomeNetOfTax`	$383.24M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.