10-Q Filing

SOUTHERN COPPER CORP/ CIK: 1001838 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001104659-17-030725`
Period End Date	20170331
Filing Date	20170508
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	scco-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 84 Income Statement 43 Cash Flow Statement 47 Comprehensive Income 6

Balance Sheet 84 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable other, related parties	`DueFromRelatedPartiesCurrent`	$46.80M	USD	Point-in-time
Accounts receivable other, related parties	`DueFromRelatedPartiesCurrent`	$23.40M	USD	Point-in-time
Accounts payable, related parties	`DueToRelatedPartiesCurrent`	$62.20M	USD	Point-in-time
Accounts payable, related parties	`DueToRelatedPartiesCurrent`	$77.50M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$698.70M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$274.50M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$546.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$376.00M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$3.60M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$51.30M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$52.70M	USD	Point-in-time
Accounts receivable trade	`AccountsReceivableNetCurrent`	$669.60M	USD	Point-in-time
Accounts receivable trade	`AccountsReceivableNetCurrent`	$591.90M	USD	Point-in-time
Accounts receivable other (including related parties 2017 - $46.8 million and 2016 - $23.4 million)	`OtherReceivables`	$76.60M	USD	Point-in-time
Accounts receivable other (including related parties 2017 - $46.8 million and 2016 - $23.4 million)	`OtherReceivables`	$100.20M	USD	Point-in-time
Inventories	`InventoryNet`	$1.01B	USD	Point-in-time
Inventories	`InventoryNet`	$979.90M	USD	Point-in-time
Prepaid taxes	`PrepaidTaxes`	$226.70M	USD	Point-in-time
Prepaid taxes	`PrepaidTaxes`	$249.40M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$46.00M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$36.90M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.77B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.57B	USD	Point-in-time
Property and mine development, net	`PropertyPlantAndEquipmentNet`	$8.77B	USD	Point-in-time
Property and mine development, net	`PropertyPlantAndEquipmentNet`	$8.40B	USD	Point-in-time
Property and mine development, net	`PropertyPlantAndEquipmentNet`	$8.76B	USD	Point-in-time
Ore stockpiles on leach pads	`InventoryOreStockpilesOnLeachPads`	$806.90M	USD	Point-in-time
Ore stockpiles on leach pads	`InventoryOreStockpilesOnLeachPads`	$848.20M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$154.20M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$155.50M	USD	Point-in-time
Deferred income tax	`DeferredTaxAssetsNetNoncurrent`	$771.80M	USD	Point-in-time
Deferred income tax	`DeferredTaxAssetsNetNoncurrent`	$727.30M	USD	Point-in-time
Equity method investment	`EquityMethodInvestments`	$90.20M	USD	Point-in-time
Equity method investment	`EquityMethodInvestments`	$87.50M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$127.60M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$125.80M	USD	Point-in-time
Total assets	`Assets`	$13.23B	USD	Point-in-time
Total assets	`Assets`	$13.52B	USD	Point-in-time
Total assets	`Assets`	$12.81B	USD	Point-in-time
Accounts payable (including related parties 2017 - $77.5 million and 2016 - $62.2 million)	`AccountsPayableCurrent`	$505.70M	USD	Point-in-time
Accounts payable (including related parties 2017 - $77.5 million and 2016 - $62.2 million)	`AccountsPayableCurrent`	$584.20M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$163.00M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$185.10M	USD	Point-in-time
Accrued workers' participation	`AccruedWorkersParticipation`	$125.40M	USD	Point-in-time
Accrued workers' participation	`AccruedWorkersParticipation`	$159.10M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$132.50M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$85.60M	USD	Point-in-time
Other accrued liabilities	`OtherLiabilitiesCurrent`	$18.70M	USD	Point-in-time
Other accrued liabilities	`OtherLiabilitiesCurrent`	$29.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$989.50M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$999.00M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$5.95B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$5.95B	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$162.60M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$195.00M	USD	Point-in-time
Other liabilities and reserves	`OtherLiabilitiesNoncurrent`	$31.10M	USD	Point-in-time
Other liabilities and reserves	`OtherLiabilitiesNoncurrent`	$37.30M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$222.30M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$216.50M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$6.41B	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$6.36B	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock	`CommonStockValue`	$8.80M	USD	Point-in-time
Common stock	`CommonStockValue`	$8.80M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$3.36B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$3.36B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$5.71B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$5.46B	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.40M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.40M	USD	Point-in-time
Treasury stock, at cost, common shares	`TreasuryStockValue`	$2.99B	USD	Point-in-time
Treasury stock, at cost, common shares	`TreasuryStockValue`	$2.97B	USD	Point-in-time
Treasury stock, at cost, common shares	`TreasuryStockValue`	$2.99B	USD	Point-in-time
Total Southern Copper Corporation stockholders' equity	`StockholdersEquity`	$5.83B	USD	Point-in-time
Total Southern Copper Corporation stockholders' equity	`StockholdersEquity`	$6.08B	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$39.30M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$36.30M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$36.90M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$38.60M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.87B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$6.12B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$13.52B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$13.23B	USD	Point-in-time

Income Statement 43 line items

Line Item	Tag	Value	Unit	Period
Net sales (including sales to related parties, see Note 7)	`RevenueMineralSales`	$1.58B	USD	1 Quarter
Net sales (including sales to related parties, see Note 7)	`RevenueMineralSales`	$1.25B	USD	1 Quarter
Cost of sales (exclusive of depreciation, amortization and depletion shown separately below)	`CostOfRevenue`	$726.80M	USD	1 Quarter
Cost of sales (exclusive of depreciation, amortization and depletion shown separately below)	`CostOfRevenue`	$843.80M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$21.40M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$26.30M	USD	1 Quarter
Depreciation, amortization and depletion	`DepreciationDepletionAndAmortization`	$153.40M	USD	1 Quarter
Depreciation, amortization and depletion	`DepreciationDepletionAndAmortization`	$135.30M	USD	1 Quarter
Exploration	`ExplorationExpenseMining`	$10.50M	USD	1 Quarter
Exploration	`ExplorationExpenseMining`	$5.10M	USD	1 Quarter
Environmental remediation	`EnvironmentalRemediationExpense`	$-10.20M	USD	1 Quarter
Total operating costs and expenses	`CostsAndExpenses`	$1.01B	USD	1 Quarter
Total operating costs and expenses	`CostsAndExpenses`	$898.90M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$346.20M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$570.40M	USD	1 Quarter
Interest expense	`InterestCostsIncurred`	$90.20M	USD	1 Quarter
Interest expense	`InterestCostsIncurred`	$105.70M	USD	1 Quarter
Capitalized interest	`InterestCostsCapitalizedAdjustment`	$15.20M	USD	1 Quarter
Capitalized interest	`InterestCostsCapitalizedAdjustment`	$14.90M	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$4.80M	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-500.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$900.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.20M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$272.90M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$485.30M	USD	1 Quarter
Income taxes (including royalty taxes, see Note 4)	`IncomeTaxExpenseBenefit`	$92.30M	USD	1 Quarter
Income taxes (including royalty taxes, see Note 4)	`IncomeTaxExpenseBenefit`	$176.20M	USD	1 Quarter
Net income before equity earnings of affiliate	`IncomeLossFromContinuingOperationsAfterIncomeTaxesAndBeforeIncomeLossFromEquityMethodInvestments`	$180.60M	USD	1 Quarter
Net income before equity earnings of affiliate	`IncomeLossFromContinuingOperationsAfterIncomeTaxesAndBeforeIncomeLossFromEquityMethodInvestments`	$309.10M	USD	1 Quarter
Equity earnings of affiliate, net of income tax	`IncomeLossFromEquityMethodInvestments`	$6.20M	USD	1 Quarter
Equity earnings of affiliate, net of income tax	`IncomeLossFromEquityMethodInvestments`	$5.10M	USD	1 Quarter
Net income	`ProfitLoss`	$315.30M	USD	1 Quarter
Net income	`ProfitLoss`	$185.70M	USD	1 Quarter
Less: Net income attributable to the non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$900.00K	USD	1 Quarter
Less: Net income attributable to the non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$600.00K	USD	1 Quarter
Net income attributable to SCC	`NetIncomeLossAvailableToCommonStockholdersBasic`	$185.10M	USD	1 Quarter
Net income attributable to SCC	`NetIncomeLossAvailableToCommonStockholdersBasic`	$314.40M	USD	1 Quarter
Net earnings - basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.41	USD	1 Quarter
Net earnings - basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.24	USD	1 Quarter
Dividends paid	`CommonStockDividendsPerShareCashPaid`	$0.08	USD	1 Quarter
Dividends paid	`CommonStockDividendsPerShareCashPaid`	$0.03	USD	1 Quarter
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	773.00M	shares	1 Quarter
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	773.90M	shares	1 Quarter

Cash Flow Statement 47 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$315.30M	USD	1 Quarter
Net income	`ProfitLoss`	$185.70M	USD	1 Quarter
Depreciation, amortization and depletion	`DepreciationDepletionAndAmortization`	$153.40M	USD	1 Quarter
Depreciation, amortization and depletion	`DepreciationDepletionAndAmortization`	$135.30M	USD	1 Quarter
Equity earnings of affiliate, net of dividends received	`IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions`	$1.70M	USD	1 Quarter
Equity earnings of affiliate, net of dividends received	`IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions`	$2.80M	USD	1 Quarter
Loss (gain) on foreign currency transaction effect	`ForeignCurrencyTransactionGainLossUnrealized`	$1.10M	USD	1 Quarter
Loss (gain) on foreign currency transaction effect	`ForeignCurrencyTransactionGainLossUnrealized`	$-31.10M	USD	1 Quarter
(Benefit) for deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-22.00M	USD	1 Quarter
(Benefit) for deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-16.80M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-6.50M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-6.80M	USD	1 Quarter
(Increase) in accounts receivable	`IncreaseDecreaseInAccountsAndOtherReceivables`	$71.80M	USD	1 Quarter
(Increase) in accounts receivable	`IncreaseDecreaseInAccountsAndOtherReceivables`	$77.70M	USD	1 Quarter
(Increase) in inventories	`IncreaseDecreaseInInventories`	$10.70M	USD	1 Quarter
(Increase) in inventories	`IncreaseDecreaseInInventories`	$91.80M	USD	1 Quarter
Increase in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$71.70M	USD	1 Quarter
Increase in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$19.90M	USD	1 Quarter
Increase (decrease) in other operating assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-20.10M	USD	1 Quarter
Increase (decrease) in other operating assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$95.20M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$490.10M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$64.10M	USD	1 Quarter
Capital investments	`PaymentsToAcquirePropertyPlantAndEquipment`	$245.60M	USD	1 Quarter
Capital investments	`PaymentsToAcquirePropertyPlantAndEquipment`	$223.30M	USD	1 Quarter
(Purchase of) proceeds from short-term investments, net	`PaymentsForProceedsFromShortTermInvestments`	$1.40M	USD	1 Quarter
(Purchase of) proceeds from short-term investments, net	`PaymentsForProceedsFromShortTermInvestments`	$-320.80M	USD	1 Quarter
Sale of property	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$800.00K	USD	1 Quarter
Sale of property	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$400.00K	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-246.60M	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$98.30M	USD	1 Quarter
Cash dividends paid to common stockholders	`PaymentsOfDividendsCommonStock`	$23.20M	USD	1 Quarter
Cash dividends paid to common stockholders	`PaymentsOfDividendsCommonStock`	$61.80M	USD	1 Quarter
Repurchase of common shares	`PaymentsForRepurchaseOfCommonStock`	$53.70M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-61.80M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-76.90M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$16.00M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-29.00M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$101.50M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$152.70M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$698.70M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$274.50M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$546.00M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$376.00M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$698.70M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$274.50M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$546.00M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$376.00M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income and comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$185.70M	USD	1 Quarter
Net income and comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$315.30M	USD	1 Quarter
Comprehensive income attributable to the non-controlling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$600.00K	USD	1 Quarter
Comprehensive income attributable to the non-controlling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$900.00K	USD	1 Quarter
Comprehensive income attributable to SCC	`ComprehensiveIncomeNetOfTax`	$314.40M	USD	1 Quarter
Comprehensive income attributable to SCC	`ComprehensiveIncomeNetOfTax`	$185.10M	USD	1 Quarter

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