10-Q Filing

SOUTHERN COPPER CORP/ CIK: 1001838 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001104659-13-035267`
Period End Date	20130331
Filing Date	20130430
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	scco-20130331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 87 Income Statement 44 Cash Flow Statement 51 Comprehensive Income 10

Balance Sheet 87 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable other, related parties	`DueFromRelatedPartiesCurrent`	$25.74M	USD	Point-in-time
Accounts receivable other, related parties	`DueFromRelatedPartiesCurrent`	$34.16M	USD	Point-in-time
Accounts payable, related parties	`DueToRelatedPartiesCurrentAndNoncurrent`	$20.31M	USD	Point-in-time
Accounts payable, related parties	`DueToRelatedPartiesCurrentAndNoncurrent`	$4.11M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.46B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.52B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.46B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$848.12M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$134.30M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$204.49M	USD	Point-in-time
Accounts receivable trade	`AccountsReceivableNetCurrent`	$566.76M	USD	Point-in-time
Accounts receivable trade	`AccountsReceivableNetCurrent`	$669.33M	USD	Point-in-time
Accounts receivable other (including related parties 2013 - $34,165 and 2012 - $25,740)	`OtherReceivables`	$105.55M	USD	Point-in-time
Accounts receivable other (including related parties 2013 - $34,165 and 2012 - $25,740)	`OtherReceivables`	$82.64M	USD	Point-in-time
Inventories	`InventoryNet`	$692.37M	USD	Point-in-time
Inventories	`InventoryNet`	$682.75M	USD	Point-in-time
Deferred income tax	`DeferredTaxAssetsNetCurrent`	$148.50M	USD	Point-in-time
Deferred income tax	`DeferredTaxAssetsNetCurrent`	$103.19M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$180.22M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$156.26M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.36B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.29B	USD	Point-in-time
Property, net	`PropertyPlantAndEquipmentNet`	$4.50B	USD	Point-in-time
Property, net	`PropertyPlantAndEquipmentNet`	$5.16B	USD	Point-in-time
Property, net	`PropertyPlantAndEquipmentNet`	$5.35B	USD	Point-in-time
Leachable material, net	`InventoryOreStockpilesOnLeachPads`	$284.29M	USD	Point-in-time
Leachable material, net	`InventoryOreStockpilesOnLeachPads`	$262.80M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$108.81M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$109.30M	USD	Point-in-time
Related parties receivable	`DueFromRelatedPartiesNoncurrent`	$183.95M	USD	Point-in-time
Related parties receivable	`DueFromRelatedPartiesNoncurrent`	$173.38M	USD	Point-in-time
Deferred income tax	`DeferredTaxAssetsNetNoncurrent`	$222.55M	USD	Point-in-time
Deferred income tax	`DeferredTaxAssetsNetNoncurrent`	$205.94M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$177.07M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$278.41M	USD	Point-in-time
Total assets	`Assets`	$10.78B	USD	Point-in-time
Total assets	`Assets`	$8.49B	USD	Point-in-time
Total assets	`Assets`	$10.38B	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 (including related parties 2013 -$4,113 and 2012 - $20,310)	`AccountsPayableCurrent`	$475.57M	USD	Point-in-time
Accounts payable (including related parties 2013 -$4,113 and 2012 - $20,310)	`AccountsPayableCurrent`	$518.54M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$12.20M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$35.85M	USD	Point-in-time
Accrued workers' participation	`AccruedWorkersParticipation`	$232.18M	USD	Point-in-time
Accrued workers' participation	`AccruedWorkersParticipation`	$266.57M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$70.58M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$91.18M	USD	Point-in-time
Other accrued liabilities	`OtherLiabilitiesCurrent`	$33.90M	USD	Point-in-time
Other accrued liabilities	`OtherLiabilitiesCurrent`	$22.22M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$857.13M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$921.64M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$4.20B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$4.20B	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$167.38M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$141.43M	USD	Point-in-time
Non-current taxes payable	`LiabilityForUncertainTaxPositionsNoncurrent`	$214.93M	USD	Point-in-time
Non-current taxes payable	`LiabilityForUncertainTaxPositionsNoncurrent`	$214.93M	USD	Point-in-time
Other liabilities and reserves	`OtherLiabilitiesNoncurrent`	$65.46M	USD	Point-in-time
Other liabilities and reserves	`OtherLiabilitiesNoncurrent`	$59.06M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$120.00M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$118.23M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$4.74B	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$4.77B	USD	Point-in-time
Commitments and contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 10)	`CommitmentsAndContingencies`	-	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	`AdditionalPaidInCapitalCommonStock`	$3.32B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$3.33B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.64B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.35B	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$4.03M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$4.03M	USD	Point-in-time
Treasury stock, at cost, common shares	`TreasuryStockValue`	$918.79M	USD	Point-in-time
Treasury stock, at cost, common shares	`TreasuryStockValue`	$760.10M	USD	Point-in-time
Treasury stock, at cost, common shares	`TreasuryStockValue`	$931.22M	USD	Point-in-time
Total Southern Copper Corporation stockholders' equity	`StockholdersEquity`	$4.77B	USD	Point-in-time
Total Southern Copper Corporation stockholders' equity	`StockholdersEquity`	$5.06B	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$21.00M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$22.60M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$23.96M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$25.06M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.79B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.08B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$10.78B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$10.38B	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net sales (including sales to related parties 2013 - $36,608 and 2012 - $10,972)	`RevenueMineralSales`	$1.81B	USD	1 Quarter
Net sales (including sales to related parties 2013 - $36,608 and 2012 - $10,972)	`RevenueMineralSales`	$1.62B	USD	1 Quarter
Related party sales	`RevenueFromRelatedParties`	$10.97M	USD	1 Quarter
Related party sales	`RevenueFromRelatedParties`	$36.61M	USD	1 Quarter
Cost of sales (exclusive of depreciation, amortization and depletion shown separately below)	`CostOfRevenue`	$726.68M	USD	1 Quarter
Cost of sales (exclusive of depreciation, amortization and depletion shown separately below)	`CostOfRevenue`	$721.93M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$25.37M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$25.43M	USD	1 Quarter
Depreciation, amortization and depletion	`DepreciationDepletionAndAmortization`	$76.94M	USD	1 Quarter
Depreciation, amortization and depletion	`DepreciationDepletionAndAmortization`	$90.57M	USD	1 Quarter
Exploration	`ExplorationExpenseMining`	$10.32M	USD	1 Quarter
Exploration	`ExplorationExpenseMining`	$8.72M	USD	1 Quarter
Total operating costs and expenses	`CostsAndExpenses`	$852.95M	USD	1 Quarter
Total operating costs and expenses	`CostsAndExpenses`	$833.03M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$770.05M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$972.91M	USD	1 Quarter
Interest expense	`InterestCostsIncurred`	$47.17M	USD	1 Quarter
Interest expense	`InterestCostsIncurred`	$65.29M	USD	1 Quarter
Capitalized interest	`InterestCostsCapitalized`	$-12.24M	USD	1 Quarter
Capitalized interest	`InterestCostsCapitalized`	$-2.86M	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$7.24M	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$848.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$3.85M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$5.97M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$723.82M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$939.68M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$234.95M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$318.77M	USD	1 Quarter
Net income before equity earnings of affiliate	`IncomeLossFromContinuingOperationsAfterIncomeTaxesAndBeforeIncomeLossFromEquityMethodInvestments`	$620.91M	USD	1 Quarter
Net income before equity earnings of affiliate	`IncomeLossFromContinuingOperationsAfterIncomeTaxesAndBeforeIncomeLossFromEquityMethodInvestments`	$488.87M	USD	1 Quarter
Equity earnings of affiliate, net of income tax	`EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss`	$2.65M	USD	1 Quarter
Equity earnings of affiliate, net of income tax	`EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss`	$8.16M	USD	1 Quarter
Net income	`ProfitLoss`	$497.03M	USD	1 Quarter
Net income	`ProfitLoss`	$623.56M	USD	1 Quarter
Less: Net income attributable to the non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$2.13M	USD	1 Quarter
Less: Net income attributable to the non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$1.64M	USD	1 Quarter
Net income attributable to SCC	`NetIncomeLossAvailableToCommonStockholdersBasic`	$495.39M	USD	1 Quarter
Net income attributable to SCC	`NetIncomeLossAvailableToCommonStockholdersBasic`	$621.43M	USD	1 Quarter
Net earnings - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.73	USD	1 Quarter
Net earnings - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.59	USD	1 Quarter
Dividends paid (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.24	USD	1 Quarter
Dividends paid (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.54	USD	1 Quarter
Weighted average shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	849.98M	shares	1 Quarter
Weighted average shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	845.55M	shares	1 Quarter

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$497.03M	USD	1 Quarter
Net income	`ProfitLoss`	$623.56M	USD	1 Quarter
Depreciation, amortization and depletion	`DepreciationDepletionAndAmortization`	$76.94M	USD	1 Quarter
Depreciation, amortization and depletion	`DepreciationDepletionAndAmortization`	$90.57M	USD	1 Quarter
Equity earnings of affiliate	`IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions`	$2.65M	USD	1 Quarter
Equity earnings of affiliate	`IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions`	$8.16M	USD	1 Quarter
Loss on currency translation effect	`ForeignCurrencyTransactionGainLossUnrealized`	$-13.89M	USD	1 Quarter
Loss on currency translation effect	`ForeignCurrencyTransactionGainLossUnrealized`	$-7.53M	USD	1 Quarter
Deferred income taxes benefit	`DeferredIncomeTaxExpenseBenefit`	$-12.51M	USD	1 Quarter
Deferred income taxes benefit	`DeferredIncomeTaxExpenseBenefit`	$-5.75M	USD	1 Quarter
Loss (gain) on short-term investments	`GainLossOnSaleOfInvestments`	$5.83M	USD	1 Quarter
Loss (gain) on short-term investments	`GainLossOnSaleOfInvestments`	$1.44M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-79.66M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-59.05M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$31.11M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-11.81M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-34.85M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$64.51M	USD	1 Quarter
Other operating assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$2.64M	USD	1 Quarter
Other operating assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$104.74M	USD	1 Quarter
Net cash provided from operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$720.41M	USD	1 Quarter
Net cash provided from operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$594.47M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$177.42M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$316.80M	USD	1 Quarter
(Purchase of) proceeds on sale of short-term investments, net	`PaymentsForProceedsFromShortTermInvestments`	$70.19M	USD	1 Quarter
(Purchase of) proceeds on sale of short-term investments, net	`PaymentsForProceedsFromShortTermInvestments`	$-294.69M	USD	1 Quarter
Repayment of loan from related parties, net	`ProceedsFromCollectionOfLongtermLoansToRelatedParties`	$10.57M	USD	1 Quarter
Sales of property	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$98.00K	USD	1 Quarter
Sales of property	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$224.00K	USD	1 Quarter
Net cash (used for) provided from investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-376.19M	USD	1 Quarter
Net cash (used for) provided from investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$117.38M	USD	1 Quarter
Cash dividends paid to common stockholders	`PaymentsOfDividendsCommonStock`	$159.81M	USD	1 Quarter
Cash dividends paid to common stockholders	`PaymentsOfDividendsCommonStock`	$202.93M	USD	1 Quarter
Distributions to non-controlling interest	`PaymentsOfDividendsMinorityInterest`	$472.00K	USD	1 Quarter
Distributions to non-controlling interest	`PaymentsOfDividendsMinorityInterest`	$472.00K	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$258.00K	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$153.00K	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-160.13M	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-203.15M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-12.27M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-7.59M	USD	1 Quarter
Increase in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$2.86M	USD	1 Quarter
Increase in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$670.06M	USD	1 Quarter
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.46B	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.52B	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.46B	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$848.12M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.46B	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.52B	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.46B	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$848.12M	USD	Point-in-time

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Unrealized net loss on derivative instruments classified as cash flow hedges, income taxes	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax`	$3.46M	USD	1 Quarter
Net income	`ProfitLoss`	$497.03M	USD	1 Quarter
Net income	`ProfitLoss`	$623.56M	USD	1 Quarter
Unrealized net loss on derivative instruments classified as cash flow hedges (net of income taxes of $3,459)	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$-5.45M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$497.03M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$618.12M	USD	1 Quarter
Comprehensive income attributable to the non-controlling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$1.64M	USD	1 Quarter
Comprehensive income attributable to the non-controlling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$2.15M	USD	1 Quarter
Comprehensive income attributable to SCC	`ComprehensiveIncomeNetOfTax`	$615.96M	USD	1 Quarter
Comprehensive income attributable to SCC	`ComprehensiveIncomeNetOfTax`	$495.39M	USD	1 Quarter

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