2019 Q3 Form 10-Q Financial Statement

#000155837019006372 Filed on July 26, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2019 Q2 2018 Q2
Revenue $1.860B $1.818B $1.837B
YoY Change 6.05% -1.05% 20.09%
Cost Of Revenue $906.5M $867.3M $851.7M
YoY Change 10.01% 1.83% 5.83%
Gross Profit $752.7M $751.9M $822.9M
YoY Change 3.24% -8.63% 13.5%
Gross Profit Margin 40.48% 41.36% 44.79%
Selling, General & Admin $32.00M $30.90M $26.20M
YoY Change 21.21% 17.94% 18.02%
% of Gross Profit 4.25% 4.11% 3.18%
Research & Development $6.900M $7.400M $9.100M
YoY Change 15.0% -18.68% 59.65%
% of Gross Profit 0.92% 0.98% 1.11%
Depreciation & Amortization $200.3M $198.8M $162.6M
YoY Change 17.41% 22.26% -5.02%
% of Gross Profit 26.61% 26.44% 19.76%
Operating Expenses $32.00M $30.90M $26.20M
YoY Change 21.21% 17.94% -86.84%
Operating Profit $713.8M $713.6M $787.6M
YoY Change 2.45% -9.4% 49.76%
Interest Expense -$78.70M -$79.60M -$65.80M
YoY Change 21.45% 20.97% -8.23%
% of Operating Profit -11.03% -11.15% -8.35%
Other Income/Expense, Net -$6.300M $23.00M -$3.100M
YoY Change -17.11% -841.94% -200.0%
Pretax Income $628.8M $657.0M $718.7M
YoY Change 0.72% -8.58% 57.16%
Income Tax $241.0M $251.1M $309.1M
% Of Pretax Income 38.33% 38.22% 43.01%
Net Earnings $391.3M $404.4M $411.1M
YoY Change 5.56% -1.63% 37.17%
Net Earnings / Revenue 21.04% 22.24% 22.38%
Basic Earnings Per Share
Diluted Earnings Per Share $503.9K $520.6K $529.9K
COMMON SHARES
Basic Shares Outstanding 773.1M
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q3 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.936B $753.0M $1.083B
YoY Change 60.79% -30.47% 48.56%
Cash & Equivalents $1.935B $752.2M $1.033B
Short-Term Investments $700.0K $800.0K $51.00M
Other Short-Term Assets $48.40M $27.80M $119.0M
YoY Change -59.33% -76.64% -39.59%
Inventory $1.062B $1.069B $1.004B
Prepaid Expenses
Receivables $842.0M $787.1M $813.0M
Other Receivables $77.00M $149.0M $150.0M
Total Short-Term Assets $4.178B $3.098B $3.170B
YoY Change 27.64% -2.27% 19.85%
LONG-TERM ASSETS
Property, Plant & Equipment $9.395B $9.415B $9.173B
YoY Change 0.9% 2.64% 3.79%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $107.9M $103.0M $100.0M
YoY Change 3.75% 3.0% 8.7%
Other Assets $94.00M $90.10M $1.452B
YoY Change -93.64% -93.79% -19.11%
Total Long-Term Assets $12.32B $12.25B $10.88B
YoY Change 11.53% 12.6% 0.05%
TOTAL ASSETS
Total Short-Term Assets $4.178B $3.098B $3.170B
Total Long-Term Assets $12.32B $12.25B $10.88B
Total Assets $16.49B $15.34B $14.05B
YoY Change 15.21% 9.25% 3.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $575.0M $630.8M $562.0M
YoY Change -5.58% 12.24% 24.89%
Accrued Expenses $377.0M $283.0M $232.0M
YoY Change 13.55% 21.98% 16.58%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $399.7M $399.6M
YoY Change
Total Short-Term Liabilities $1.432B $1.385B $1.006B
YoY Change 18.56% 37.71% 25.59%
LONG-TERM LIABILITIES
Long-Term Debt $6.540B $5.562B $5.959B
YoY Change 9.76% -6.66% 0.05%
Other Long-Term Liabilities $137.6M $75.30M $475.0M
YoY Change -71.39% -84.15% 81.3%
Total Long-Term Liabilities $8.192B $7.171B $6.434B
YoY Change 27.2% 11.45% 3.47%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.432B $1.385B $1.006B
Total Long-Term Liabilities $8.192B $7.171B $6.434B
Total Liabilities $9.624B $8.556B $7.520B
YoY Change 24.49% 13.78% 4.11%
SHAREHOLDERS EQUITY
Retained Earnings $6.439B $6.359B
YoY Change
Common Stock $3.424B $3.416B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.040B $3.032B $3.009B
YoY Change 0.73% 0.77%
Treasury Stock Shares
Shareholders Equity $6.821B $6.740B $6.526B
YoY Change
Total Liabilities & Shareholders Equity $16.49B $15.34B $14.05B
YoY Change 15.21% 9.25% 3.93%

Cashflow Statement

Concept 2019 Q3 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income $391.3M $404.4M $411.1M
YoY Change 5.56% -1.63% 37.17%
Depreciation, Depletion And Amortization $200.3M $198.8M $162.6M
YoY Change 17.41% 22.26% -5.02%
Cash From Operating Activities $585.2M $414.1M $406.2M
YoY Change -20.14% 1.94% 14.81%
INVESTING ACTIVITIES
Capital Expenditures $182.7M $180.4M $253.9M
YoY Change -35.28% -28.95% -200.71%
Acquisitions
YoY Change
Other Investing Activities -$100.0K -$100.0K $12.40M
YoY Change -50.0% -100.81% -6.77%
Cash From Investing Activities -$65.50M -$85.60M -$260.5M
YoY Change -86.0% -67.14% 9.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 667.5M -309.0M -231.7M
YoY Change -315.74% 33.36% 150.49%
NET CHANGE
Cash From Operating Activities 585.2M 414.1M 406.2M
Cash From Investing Activities -65.50M -85.60M -260.5M
Cash From Financing Activities 667.5M -309.0M -231.7M
Net Change In Cash 1.183B 15.20M -35.70M
YoY Change -1914.42% -142.58% -258.67%
FREE CASH FLOW
Cash From Operating Activities $585.2M $414.1M $406.2M
Capital Expenditures $182.7M $180.4M $253.9M
Free Cash Flow $402.5M $233.7M $152.3M
YoY Change -10.65% 53.45% -74.86%

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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Nature Of Operations
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<p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">NOTE 1— DESCRIPTION OF THE BUSINESS:</b></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="white-space:pre-wrap;">The Company is a majority-owned, indirect subsidiary of Grupo Mexico S.A.B. de C.V. (“Grupo Mexico”). At June 30, 2019, Grupo Mexico through its wholly-owned subsidiary Americas Mining Corporation (“AMC”) owned </span>88.9%<span style="white-space:pre-wrap;"> of the Company’s capital stock. The condensed consolidated financial statements presented herein consist of the accounts of Southern Copper Corporation ("SCC" or the “Company”), a Delaware corporation, and its subsidiaries. The Company is an integrated producer of copper and other minerals, and operates mining, smelting and refining facilities in Peru and Mexico. The Company conducts its primary operations in Peru through a registered branch (the "Peruvian Branch" or “Branch” or “SPCC Peru Branch”). The Peruvian Branch is not a corporation separate from the Company. The Company's Mexican operations are conducted through subsidiaries. The Company also conducts exploration activities in Argentina, Chile, Ecuador, Mexico and Peru.</span></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">In the opinion of the Company, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting only of normal recurring adjustments) necessary to state fairly the Company’s financial position as of June 30, 2019 and the results of operations, comprehensive income, cash flows and changes in equity for the three and six months ended June 30, 2019 and 2018. The results of operations for the three and six months ended June 30, 2019 are not necessarily indicative of the results to be expected for the full year. The December 31, 2018 balance sheet data was derived from audited financial statements, but does not include all disclosures required by generally accepted accounting principles in the United States of America (“GAAP”). The accompanying condensed consolidated financial statements should be read in conjunction with the consolidated financial statements at December 31, 2018 and notes included in the Company’s 2018 annual report on Form 10-K.</p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p>
CY2019Q2 scco Percentage Of Ownership By Parent
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CY2019Q2 us-gaap Trading Securities
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scco Trading Securities Weighted Average Interest Rate
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scco Available For Sale Securities Weighted Average Interest Rate
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CY2018 scco Available For Sale Securities Weighted Average Interest Rate
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CY2018 scco Trading Securities Weighted Average Interest Rate
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us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
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CY2018Q4 us-gaap Inventory Work In Process Net Of Reserves
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CY2019Q2 scco Inventory Ore Stockpiles On Leach Pads Current
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CY2018Q4 scco Inventory Ore Stockpiles On Leach Pads Current
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CY2019Q2 us-gaap Inventory Supplies Net Of Reserves
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CY2019Q2 us-gaap Inventory Net
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CY2018Q4 us-gaap Inventory Ore Stockpiles On Leach Pads
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scco Inventory Ore Stockpiles On Leach Pads Capitalized Costs
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244600000
scco Inventory Ore Stockpiles On Leach Pads Capitalized Costs
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256800000
scco Inventory Ore Stockpiles On Leach Pads Recognized As Cost Of Sales
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scco Inventory Ore Stockpiles On Leach Pads Recognized As Cost Of Sales
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155600000
us-gaap Federal Income Tax Expense Benefit Continuing Operations
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429100000
us-gaap Federal Income Tax Expense Benefit Continuing Operations
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473300000
scco Global Intangible Low Taxed Income Tax
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8400000
scco Mining Royalty Tax Peru
MiningRoyaltyTaxPeru
6500000
scco Mining Royalty Tax Peru
MiningRoyaltyTaxPeru
4400000
scco Mining Royalty Tax Mexico
MiningRoyaltyTaxMexico
35200000
scco Mining Royalty Tax Mexico
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45000000.0
scco Special Mining Tax
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18200000
scco Special Mining Tax
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14600000
us-gaap Income Tax Expense Benefit
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489000000.0
us-gaap Income Tax Expense Benefit
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us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.381
us-gaap Effective Income Tax Rate Continuing Operations
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scco Increase Decrease In Effective Income Tax Rate
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-0.002
scco Effective Income Tax Rate Increase Decrease In Exchange Gain Or Loss
EffectiveIncomeTaxRateIncreaseDecreaseInExchangeGainOrLoss
-0.012
scco Effective Income Tax Rate Increase Decrease In Peruvian Income Tax Dividend Tax And Special Mining Tax
EffectiveIncomeTaxRateIncreaseDecreaseInPeruvianIncomeTaxDividendTaxAndSpecialMiningTax
0.010
CY2019Q2 us-gaap Unrecognized Tax Benefits
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CY2018Q4 us-gaap Unrecognized Tax Benefits
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CY2019Q2 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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3571400000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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3678400000
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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1837200000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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3571400000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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3678400000
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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1818000000.0
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1837200000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3571400000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2019Q2 us-gaap Accounts Receivable Net Current
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CY2019Q2 us-gaap Due From Related Parties Current
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CY2018Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
822400000
CY2018Q4 us-gaap Due From Related Parties Current
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101500000
scco Long Term Contracts Table Text Bloc
LongTermContractsTableTextBloc
<p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">As of June 30, 2019, the Company has long-term contracts with promises to deliver the following products:</p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><table style="border-collapse:collapse;font-size:16pt;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:85.7%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:85.7%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:justify;margin:0pt;">Copper concentrates (in tons)</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">    </p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:11.71%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 1,090,000</p></td></tr><tr><td style="vertical-align:bottom;width:85.7%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:justify;margin:0pt;">Copper cathodes (in tons)</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 48,000</p></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:85.7%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:justify;margin:0pt;">Molybdenum concentrates (in tons)</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"> </p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:11.71%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 24,106</p></td></tr><tr><td style="vertical-align:bottom;width:85.7%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:justify;margin:0pt;">Sulfuric acid (in tons)</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:11.71%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 331,620</p></td></tr></table><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p>
CY2018Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
217700000
CY2017Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
222500000
us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
25200000
us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
-15600000
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
400000
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
6200000
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
6200000
CY2019Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
248700000
CY2018Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
213100000
CY2019Q2 us-gaap Due From Related Parties Current
DueFromRelatedPartiesCurrent
91000000.0
CY2018Q4 us-gaap Due From Related Parties Current
DueFromRelatedPartiesCurrent
101500000
CY2019Q2 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
66700000
CY2018Q4 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
75300000
us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
1000000.0
us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
900000
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
900000
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
900000
scco Defined Benefit Plan Number Of Expatriate Noncontributory Plans
DefinedBenefitPlanNumberOfExpatriateNoncontributoryPlans
2
us-gaap Environmental Costs Recognized Capitalized In Period
EnvironmentalCostsRecognizedCapitalizedInPeriod
32300000
us-gaap Environmental Costs Recognized Capitalized In Period
EnvironmentalCostsRecognizedCapitalizedInPeriod
44500000
scco Number Of Collective Action Lawsuits
NumberOfCollectiveActionLawsuits
6
scco Number Of Subsidiaries Against Which Lawsuits Filed
NumberOfSubsidiariesAgainstWhichLawsuitsFiled
2
scco Number Of Collective Action Lawsuits Dismissed
NumberOfCollectiveActionLawsuitsDismissed
2
scco Remaining Number Of Lawsuits
RemainingNumberOfLawsuits
4
CY2017Q4 scco Number Of Civil Actions Seeking Damages
NumberOfCivilActionsSeekingDamages
33
CY2015 scco Number Of Constitutional Action Lawsuits
NumberOfConstitutionalActionLawsuits
4
CY2015Q4 scco Number Of Subsidiaries To Which Environmental Impact Authorizations Granted
NumberOfSubsidiariesToWhichEnvironmentalImpactAuthorizationsGranted
1
scco Commitments For Capital Projects
CommitmentsForCapitalProjects
118000000.0
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2019Q2 us-gaap Cost Of Revenue
CostOfRevenue
867300000
CY2019Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
30900000
CY2019Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
198800000
CY2019Q2 us-gaap Exploration Expense
ExplorationExpense
7400000
CY2019Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
713600000
CY2019Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-79600000
CY2019Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
23000000.0
CY2019Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
251100000
CY2019Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-1500000
CY2019Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2000000.0
CY2019Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
402400000
CY2019Q2 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
180400000
CY2019Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9414600000
CY2019Q2 us-gaap Assets
Assets
15344600000
CY2018Q2 us-gaap Cost Of Revenue
CostOfRevenue
851700000
CY2018Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
26200000
CY2018Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
162600000
CY2018Q2 us-gaap Exploration Expense
ExplorationExpense
9100000
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
787600000
CY2018Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-65800000
CY2018Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-3100000
CY2018Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
309100000
CY2018Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1500000
CY2018Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1500000
CY2018Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
409600000
CY2018Q2 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
253900000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
700000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
3000000.0
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
790600000
CY2018Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9172600000
CY2018Q2 us-gaap Assets
Assets
14045900000
us-gaap Cost Of Revenue
CostOfRevenue
1711400000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
59400000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
380400000
us-gaap Exploration Expense
ExplorationExpense
12900000
us-gaap Operating Income Loss
OperatingIncomeLoss
1407300000
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-153700000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
28300000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
489000000.0
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
353500000
CY2019Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9414600000
CY2019Q2 us-gaap Assets
Assets
15344600000
us-gaap Cost Of Revenue
CostOfRevenue
1728200000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
50300000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
324600000
us-gaap Exploration Expense
ExplorationExpense
14300000
us-gaap Operating Income Loss
OperatingIncomeLoss
1561000000.0
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-132500000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-5500000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
545700000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
5600000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2600000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
880300000
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
549600000
CY2018Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9172600000
CY2018Q2 us-gaap Assets
Assets
14045900000
CY2019Q2 us-gaap Treasury Stock Value
TreasuryStockValue
3032400000
CY2018Q2 us-gaap Treasury Stock Value
TreasuryStockValue
3009100000
CY2008Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
500000000
CY2019Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
3000000000
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
119500000
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
2900000000
CY2019Q2 scco Stock Repurchase Program Repurchase Price
StockRepurchaseProgramRepurchasePrice
38.85
CY2019Q2 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
2100000
CY2019Q2 scco Percentage Of Ownership By Parent
PercentageOfOwnershipByParent
0.889
CY2018Q4 us-gaap Minority Interest
MinorityInterest
45400000
CY2017Q4 us-gaap Minority Interest
MinorityInterest
41700000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
3000000.0
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2600000
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
100000
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
900000
CY2019Q2 us-gaap Minority Interest
MinorityInterest
48300000
CY2018Q2 us-gaap Minority Interest
MinorityInterest
43400000
CY2019Q2 us-gaap Long Term Debt
LongTermDebt
5961700000
CY2019Q2 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
7107500000
CY2018Q4 us-gaap Long Term Debt
LongTermDebt
5960100000
CY2018Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
6301700000
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1115900000
CY2019Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P10Y
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0356
us-gaap Operating Lease Expense
OperatingLeaseExpense
57800000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
300000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
57800000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
115400000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
115300000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
112100000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
111100000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
929100000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1440800000
CY2019Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
364500000
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
1076300000
scco Number Of Times Of Renewal
NumberOfTimesOfRenewal
4
scco Number Of Years Of Each Renewal
NumberOfYearsOfEachRenewal
P2Y

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