10-Q Filing

SOUTHERN COPPER CORP/ CIK: 1001838 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001104659-18-029826`
Period End Date	20180331
Filing Date	20180502
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	scco-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 85 Income Statement 43 Cash Flow Statement 47 Comprehensive Income 6

Balance Sheet 85 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable other, related parties	`DueFromRelatedPartiesCurrent`	$66.10M	USD	Point-in-time
Accounts receivable other, related parties	`DueFromRelatedPartiesCurrent`	$26.10M	USD	Point-in-time
Accounts payable, related parties	`DueToRelatedPartiesCurrent`	$58.90M	USD	Point-in-time
Accounts payable, related parties	`DueToRelatedPartiesCurrent`	$90.10M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$698.70M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.07B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.00B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$546.00M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$56.50M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$50.50M	USD	Point-in-time
Accounts receivable trade	`AccountsReceivableNetCurrent`	$873.90M	USD	Point-in-time
Accounts receivable trade	`AccountsReceivableNetCurrent`	$890.60M	USD	Point-in-time
Accounts receivable other (including related parties 2018 - $66.1 and 2017 - $26.1)	`OtherReceivables`	$135.80M	USD	Point-in-time
Accounts receivable other (including related parties 2018 - $66.1 and 2017 - $26.1)	`OtherReceivables`	$85.80M	USD	Point-in-time
Inventories	`InventoryNet`	$1.04B	USD	Point-in-time
Inventories	`InventoryNet`	$1.05B	USD	Point-in-time
Prepaid taxes	`PrepaidTaxes`	$85.50M	USD	Point-in-time
Prepaid taxes	`PrepaidTaxes`	$114.60M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$18.40M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$11.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.32B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.17B	USD	Point-in-time
Property and mine development, net	`PropertyPlantAndEquipmentNet`	$8.76B	USD	Point-in-time
Property and mine development, net	`PropertyPlantAndEquipmentNet`	$9.12B	USD	Point-in-time
Property and mine development, net	`PropertyPlantAndEquipmentNet`	$9.10B	USD	Point-in-time
Ore stockpiles on leach pads	`InventoryOreStockpilesOnLeachPads`	$977.40M	USD	Point-in-time
Ore stockpiles on leach pads	`InventoryOreStockpilesOnLeachPads`	$1.03B	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$152.50M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$153.10M	USD	Point-in-time
Deferred income tax	`DeferredTaxAssetsNetNoncurrent`	$186.80M	USD	Point-in-time
Deferred income tax	`DeferredTaxAssetsNetNoncurrent`	$164.90M	USD	Point-in-time
Equity method investment	`EquityMethodInvestments`	$99.70M	USD	Point-in-time
Equity method investment	`EquityMethodInvestments`	$100.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$133.60M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$115.90M	USD	Point-in-time
Total assets	`Assets`	$13.52B	USD	Point-in-time
Total assets	`Assets`	$14.04B	USD	Point-in-time
Total assets	`Assets`	$13.78B	USD	Point-in-time
Accounts payable (including related parties 2018 - $58.9 and 2017 - $90.1 )	`AccountsPayableCurrent`	$659.80M	USD	Point-in-time
Accounts payable (including related parties 2018 - $58.9 and 2017 - $90.1 )	`AccountsPayableCurrent`	$640.00M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$226.40M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$180.00M	USD	Point-in-time
Accrued workers' participation	`AccruedWorkersParticipation`	$176.90M	USD	Point-in-time
Accrued workers' participation	`AccruedWorkersParticipation`	$197.00M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$83.90M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$133.10M	USD	Point-in-time
Other accrued liabilities	`OtherLiabilitiesCurrent`	$21.30M	USD	Point-in-time
Other accrued liabilities	`OtherLiabilitiesCurrent`	$29.70M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.17B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.18B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$5.96B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$5.96B	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$38.50M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$38.40M	USD	Point-in-time
Non current taxes payable	`LiabilityForUncertainTaxPositionsNoncurrent`	$207.10M	USD	Point-in-time
Non current taxes payable	`LiabilityForUncertainTaxPositionsNoncurrent`	$207.10M	USD	Point-in-time
Other liabilities and reserves	`OtherLiabilitiesNoncurrent`	$37.20M	USD	Point-in-time
Other liabilities and reserves	`OtherLiabilitiesNoncurrent`	$45.10M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$222.50M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$220.50M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$6.47B	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$6.46B	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`	$3.37B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$3.38B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$5.73B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$5.96B	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$500.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$500.00K	USD	Point-in-time
Treasury stock, at cost, common shares	`TreasuryStockValue`	$3.00B	USD	Point-in-time
Treasury stock, at cost, common shares	`TreasuryStockValue`	$3.01B	USD	Point-in-time
Treasury stock, at cost, common shares	`TreasuryStockValue`	$2.99B	USD	Point-in-time
Total Southern Copper Corporation stockholders' equity	`StockholdersEquity`	$6.11B	USD	Point-in-time
Total Southern Copper Corporation stockholders' equity	`StockholdersEquity`	$6.35B	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$39.30M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$42.60M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$38.60M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$41.70M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$6.39B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$6.15B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$13.78B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$14.04B	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)	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.58B	USD	1 Quarter
Net sales (including sales to related parties, see Note 7)	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.84B	USD	1 Quarter
Cost of sales (exclusive of depreciation, amortization and depletion shown separately below)	`CostOfRevenue`	$843.80M	USD	1 Quarter
Cost of sales (exclusive of depreciation, amortization and depletion shown separately below)	`CostOfRevenue`	$876.50M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$21.40M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$24.10M	USD	1 Quarter
Depreciation, amortization and depletion	`DepreciationDepletionAndAmortization`	$153.40M	USD	1 Quarter
Depreciation, amortization and depletion	`DepreciationDepletionAndAmortization`	$162.00M	USD	1 Quarter
Exploration	`ExplorationExpense`	$5.10M	USD	1 Quarter
Exploration	`ExplorationExpense`	$5.20M	USD	1 Quarter
Environmental remediation	`EnvironmentalRemediationExpense`	$-10.20M	USD	1 Quarter
Total operating costs and expenses	`CostsAndExpenses`	$1.07B	USD	1 Quarter
Total operating costs and expenses	`CostsAndExpenses`	$1.01B	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$773.30M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$570.40M	USD	1 Quarter
Interest expense	`InterestCostsIncurred`	$105.70M	USD	1 Quarter
Interest expense	`InterestCostsIncurred`	$90.30M	USD	1 Quarter
Capitalized interest	`InterestCostsCapitalizedAdjustment`	$21.10M	USD	1 Quarter
Capitalized interest	`InterestCostsCapitalizedAdjustment`	$14.90M	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$4.80M	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-2.30M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.60M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$900.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$704.40M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$485.30M	USD	1 Quarter
Income taxes (including royalty taxes, see Note 4)	`IncomeTaxExpenseBenefit`	$236.60M	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`	$467.80M	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`	$4.10M	USD	1 Quarter
Net income	`ProfitLoss`	$471.90M	USD	1 Quarter
Net income	`ProfitLoss`	$315.30M	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`	$1.20M	USD	1 Quarter
Net income attributable to SCC	`NetIncomeLossAvailableToCommonStockholdersBasic`	$314.40M	USD	1 Quarter
Net income attributable to SCC	`NetIncomeLossAvailableToCommonStockholdersBasic`	$470.70M	USD	1 Quarter
Net earnings - basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.61	USD	1 Quarter
Net earnings - basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.41	USD	1 Quarter
Dividends paid	`CommonStockDividendsPerShareCashPaid`	$0.08	USD	1 Quarter
Dividends paid	`CommonStockDividendsPerShareCashPaid`	$0.30	USD	1 Quarter
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	773.00M	shares	1 Quarter
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	773.00M	shares	1 Quarter

Cash Flow Statement 47 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$471.90M	USD	1 Quarter
Net income	`ProfitLoss`	$315.30M	USD	1 Quarter
Depreciation, amortization and depletion	`DepreciationDepletionAndAmortization`	$153.40M	USD	1 Quarter
Depreciation, amortization and depletion	`DepreciationDepletionAndAmortization`	$162.00M	USD	1 Quarter
Equity earnings of affiliate, net of dividends received	`IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions`	$2.80M	USD	1 Quarter
Equity earnings of affiliate, net of dividends received	`IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions`	$300.00K	USD	1 Quarter
Loss on foreign currency transaction effect	`ForeignCurrencyTransactionGainLossUnrealized`	$-26.40M	USD	1 Quarter
Loss on foreign currency transaction effect	`ForeignCurrencyTransactionGainLossUnrealized`	$-31.10M	USD	1 Quarter
Benefit from deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-16.80M	USD	1 Quarter
Benefit from deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-23.90M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-6.50M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$1.20M	USD	1 Quarter
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-16.70M	USD	1 Quarter
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsAndOtherReceivables`	$77.70M	USD	1 Quarter
(Increase) in inventories	`IncreaseDecreaseInInventories`	$10.70M	USD	1 Quarter
(Increase) in inventories	`IncreaseDecreaseInInventories`	$59.40M	USD	1 Quarter
Increase in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$71.70M	USD	1 Quarter
Increase in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$83.40M	USD	1 Quarter
(Decrease) increase in other operating assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-20.10M	USD	1 Quarter
(Decrease) increase in other operating assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$25.80M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$649.80M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$490.10M	USD	1 Quarter
Capital investments	`PaymentsToAcquirePropertyPlantAndEquipment`	$245.60M	USD	1 Quarter
Capital investments	`PaymentsToAcquirePropertyPlantAndEquipment`	$295.70M	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`	$6.00M	USD	1 Quarter
Proceeds from sale of property	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$400.00K	USD	1 Quarter
Proceeds from sale of property	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$300.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-301.40M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-246.60M	USD	1 Quarter
Cash dividends paid to common stockholders	`PaymentsOfDividendsCommonStock`	$61.80M	USD	1 Quarter
Cash dividends paid to common stockholders	`PaymentsOfDividendsCommonStock`	$231.90M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-900.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-232.80M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-61.80M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-29.00M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-52.20M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$63.40M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$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`	$1.07B	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.00B	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$546.00M	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`	$1.07B	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.00B	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$546.00M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income and comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$315.30M	USD	1 Quarter
Net income and comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$471.90M	USD	1 Quarter
Comprehensive income attributable to the non-controlling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$900.00K	USD	1 Quarter
Comprehensive income attributable to the non-controlling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$1.20M	USD	1 Quarter
Comprehensive income attributable to SCC	`ComprehensiveIncomeNetOfTax`	$470.70M	USD	1 Quarter
Comprehensive income attributable to SCC	`ComprehensiveIncomeNetOfTax`	$314.40M	USD	1 Quarter

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