2020 Q1 Form 10-K Financial Statement

#000155837020001781 Filed on February 28, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q4 2019 Q3
Revenue $1.720B $1.855B $1.860B
YoY Change -1.92% 9.44% 6.05%
Cost Of Revenue $955.8M $960.9M $906.5M
YoY Change 13.23% 12.15% 10.01%
Gross Profit $763.9M $682.5M $752.7M
YoY Change 4.97% 3.6% 3.24%
Gross Profit Margin 44.42% 36.8% 40.48%
Selling, General & Admin $29.10M $68.20M $32.00M
YoY Change 2.11% 163.32% 21.21%
% of Gross Profit 3.81% 9.99% 4.25%
Research & Development $8.600M $9.900M $6.900M
YoY Change 56.36% 6.45% 15.0%
% of Gross Profit 1.13% 1.45% 0.92%
Depreciation & Amortization $192.9M $183.8M $200.3M
YoY Change 6.22% 2.62% 17.41%
% of Gross Profit 25.25% 26.93% 26.61%
Operating Expenses $29.10M $261.9M $32.00M
YoY Change 2.11% 22.21% 21.21%
Operating Profit $533.3M $631.9M $713.8M
YoY Change -23.12% 1.33% 2.45%
Interest Expense -$89.00M -$87.00M -$78.70M
YoY Change 20.11% 36.15% 21.45%
% of Operating Profit -16.69% -13.77% -11.03%
Other Income/Expense, Net -$7.400M -$29.00M -$6.300M
YoY Change -237.04% 64.77% -17.11%
Pretax Income $436.9M $515.8M $628.8M
YoY Change -30.1% -4.83% 0.72%
Income Tax $221.7M $215.3M $241.0M
% Of Pretax Income 50.74% 41.74% 38.33%
Net Earnings $216.2M $307.0M $391.3M
YoY Change -44.45% 4.24% 5.56%
Net Earnings / Revenue 12.57% 16.55% 21.04%
Basic Earnings Per Share
Diluted Earnings Per Share $277.8K $395.3K $503.9K
COMMON SHARES
Basic Shares Outstanding 773.1M 773.1M 773.1M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q1 2019 Q4 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.052B $1.926B $1.936B
YoY Change 115.79% 127.82% 60.79%
Cash & Equivalents $2.052B $1.925B $1.935B
Short-Term Investments $600.0K $700.0K $700.0K
Other Short-Term Assets $20.40M $26.20M $48.40M
YoY Change -87.33% -10.58% -59.33%
Inventory $1.079B $1.069B $1.062B
Prepaid Expenses
Receivables $709.7M $832.9M $842.0M
Other Receivables $80.00M $79.00M $77.00M
Total Short-Term Assets $4.140B $4.185B $4.178B
YoY Change 30.1% 31.59% 27.64%
LONG-TERM ASSETS
Property, Plant & Equipment $9.289B $9.371B $9.395B
YoY Change -1.01% -0.35% 0.9%
Goodwill $41.90M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments $112.9M $111.9M $107.9M
YoY Change 7.52% 8.01% 3.75%
Other Assets $88.90M $71.30M $94.00M
YoY Change -94.55% -0.14% -93.64%
Total Long-Term Assets $12.07B $12.22B $12.32B
YoY Change -2.33% 10.04% 11.53%
TOTAL ASSETS
Total Short-Term Assets $4.140B $4.185B $4.178B
Total Long-Term Assets $12.07B $12.22B $12.32B
Total Assets $16.21B $16.41B $16.49B
YoY Change 4.31% 14.84% 15.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $597.8M $598.3M $575.0M
YoY Change 14.74% -11.15% -5.58%
Accrued Expenses $373.0M $362.0M $377.0M
YoY Change -10.77% 16.77% 13.55%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $400.0M $399.8M $399.7M
YoY Change
Total Short-Term Liabilities $1.387B $1.477B $1.432B
YoY Change 23.53% 21.39% 18.56%
LONG-TERM LIABILITIES
Long-Term Debt $6.542B $6.541B $6.540B
YoY Change 9.74% 9.75% 9.76%
Other Long-Term Liabilities $111.1M $112.6M $137.6M
YoY Change -92.87% 65.1% -71.39%
Total Long-Term Liabilities $8.062B $8.073B $8.192B
YoY Change 7.2% 24.99% 27.2%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.387B $1.477B $1.432B
Total Long-Term Liabilities $8.062B $8.073B $8.192B
Total Liabilities $9.449B $9.549B $9.624B
YoY Change 6.22% 24.42% 24.49%
SHAREHOLDERS EQUITY
Retained Earnings $6.341B $6.436B $6.439B
YoY Change 4.02%
Common Stock $3.419B $3.434B $3.424B
YoY Change 0.92%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.034B $3.049B $3.040B
YoY Change 0.27% 0.97% 0.73%
Treasury Stock Shares
Shareholders Equity $6.716B $6.810B $6.821B
YoY Change
Total Liabilities & Shareholders Equity $16.21B $16.41B $16.49B
YoY Change 4.3% 14.84% 15.21%

Cashflow Statement

Concept 2020 Q1 2019 Q4 2019 Q3
OPERATING ACTIVITIES
Net Income $216.2M $307.0M $391.3M
YoY Change -44.45% 4.24% 5.56%
Depreciation, Depletion And Amortization $192.9M $183.8M $200.3M
YoY Change 6.22% 2.62% 17.41%
Cash From Operating Activities $475.1M $541.4M $585.2M
YoY Change 27.96% 21.34% -20.14%
INVESTING ACTIVITIES
Capital Expenditures $101.0M -$171.4M $182.7M
YoY Change -41.65% -40.81% -35.28%
Acquisitions
YoY Change
Other Investing Activities -$400.0K -$78.70M -$100.0K
YoY Change -233.33% -439.22% -50.0%
Cash From Investing Activities -$60.60M -$250.1M -$65.50M
YoY Change -64.93% -6.12% -86.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -311.4M -311.5M 667.5M
YoY Change 0.68% 0.68% -315.74%
NET CHANGE
Cash From Operating Activities 475.1M 541.4M 585.2M
Cash From Investing Activities -60.60M -250.1M -65.50M
Cash From Financing Activities -311.4M -311.5M 667.5M
Net Change In Cash 126.5M -20.20M 1.183B
YoY Change -217.57% -84.41% -1914.42%
FREE CASH FLOW
Cash From Operating Activities $475.1M $541.4M $585.2M
Capital Expenditures $101.0M -$171.4M $182.7M
Free Cash Flow $374.1M $712.8M $402.5M
YoY Change 88.75% -3.13% -10.65%

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CY2019 us-gaap Increase Decrease In Inventories
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CY2017 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2019 us-gaap Payments To Acquire Property Plant And Equipment
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CY2017 us-gaap Payments To Acquire Property Plant And Equipment
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CY2019 scco Court Order Settlement Payment
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CY2017 us-gaap Proceeds From Payments For Other Financing Activities
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CY2018 us-gaap Net Cash Provided By Used In Financing Activities
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CY2017 us-gaap Net Cash Provided By Used In Financing Activities
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CY2019 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2018 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2018 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2019 us-gaap Interest Paid Net
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CY2019 scco Workers Participation
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224500000
CY2018 scco Workers Participation
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194000000.0
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CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2019 us-gaap Nature Of Operations
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<p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;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;line-height:1.19;margin:0pt;"><span style="font-weight:bold;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;margin:0pt;">The Company is a majority-owned, indirect subsidiary of Grupo Mexico S.A.B. de C.V. (“Grupo Mexico”). At December 31, 2019, Grupo Mexico through its wholly-owned subsidiary Americas Mining Corporation (“AMC”) owned 88.9% of the Company’s capital stock. The consolidated financial statements presented herein consist of the accounts of Southern Copper Corporation ("SCC", "Southern Copper" 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.</p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;text-indent:36pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p>
CY2019Q4 scco Percentage Of Ownership By Parent
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CY2018 scco Decrease In Deferred Income Tax Asset
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CY2019 us-gaap Use Of Estimates
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<p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;margin:0pt;"><i style="font-style:italic;">Use of estimates—</i></p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;margin:0pt;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Significant items subject to such estimates and assumptions include the carrying value of ore reserves that are the basis for future cash flow estimates and amortization calculations; environmental reclamation, closure and retirement obligations; estimates of recoverable copper in mill and leach stockpiles; asset impairments (including estimates of future cash flows); unrecognized tax benefits; valuation allowances for deferred tax assets; and fair value of financial instruments. Management basis its estimates on the Company's historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results could differ from those estimates.</p>
CY2019 scco Mine Development Total Reserve Increase To Qualify As Major Expansion
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0.10
CY2019 scco Ore Reserves Estimates Preceding Periods Considered For Calculation Of Average Metal Price
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P3Y
CY2019Q4 scco Ore Reserves Copper Price Considered To Determine Average Price
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2.82
CY2018Q4 scco Ore Reserves Copper Price Considered To Determine Average Price
OreReservesCopperPriceConsideredToDetermineAveragePrice
2.64
CY2017Q4 scco Ore Reserves Copper Price Considered To Determine Average Price
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2.50
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0.35
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.21
CY2019 us-gaap Impairment Of Long Lived Assets Held For Use
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0
CY2019 scco Number Of Years Average Prices For Copper And Molybdenum Used For Impairment Analysis
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P3Y
CY2019 scco Number Of Years Average Prices For Copper And Molybdenum Used For Impairment Analysis
NumberOfYearsAveragePricesForCopperAndMolybdenumUsedForImpairmentAnalysis
P3Y
CY2019 scco Number Of Years Average Prices For Copper And Molybdenum Used For Impairment Analysis
NumberOfYearsAveragePricesForCopperAndMolybdenumUsedForImpairmentAnalysis
P3Y
CY2019 scco Number Of Reportable Segment
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3
CY2019Q4 us-gaap Trading Securities
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0.022
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CY2019Q4 us-gaap Available For Sale Securities Debt Securities
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CY2019Q4 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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CY2019Q4 us-gaap Inventory Supplies Net Of Reserves
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CY2019Q4 us-gaap Inventory Net
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506600000
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CY2019Q4 us-gaap Intangible Assets Net Including Goodwill
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CY2017 us-gaap Amortization Of Intangible Assets
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CY2019 scco Inventory Ore Stockpiles On Leach Pads Recognized As Cost Of Sales
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385800000
CY2018 scco Inventory Ore Stockpiles On Leach Pads Recognized As Cost Of Sales
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299400000
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333500000
CY2019Q4 us-gaap Property Plant And Equipment Gross
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7490700000
CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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6922300000
CY2019Q4 us-gaap Property Plant And Equipment Net
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CY2018Q4 us-gaap Property Plant And Equipment Net
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9403800000
CY2019 scco Depreciation And Depletion Expense
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759900000
CY2018 scco Depreciation And Depletion Expense
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668900000
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190600000
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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90400000
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CY2019Q4 us-gaap Goodwill
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CY2018Q4 us-gaap Goodwill
Goodwill
41900000
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9600000
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5500000
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5600000
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5500000
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4300000
CY2019Q4 us-gaap Finite Lived Intangible Assets Net
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30500000
CY2019 scco Finite Lived Intangible Assets Average Annual Future Amortization Expense
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6100000
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.35
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.21
CY2017 us-gaap Tax Cuts And Jobs Act Of2017 Incomplete Accounting Provisional Income Tax Expense Benefit
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785900000
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.35
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.21
CY2018 us-gaap Tax Cuts And Jobs Act Of2017 Income Tax Expense Benefit
TaxCutsAndJobsActOf2017IncomeTaxExpenseBenefit
816800000
CY2018 scco Tax Cuts And Jobs Act Of2017 Incomplete Accounting Amount Of Change In Income Tax Expense Benefit From Provisional Amount
TaxCutsAndJobsActOf2017IncompleteAccountingAmountOfChangeInIncomeTaxExpenseBenefitFromProvisionalAmount
30900000
CY2019 scco Maximum Percentage Of Expenses Excluding Cost Of Goods Sold
MaximumPercentageOfExpensesExcludingCostOfGoodsSold
0.03
CY2018 scco Current Federal And State Tax Expense Benefit
CurrentFederalAndStateTaxExpenseBenefit
2600000
CY2018 scco Deferred Federal And State Income Tax Expense Benefit
DeferredFederalAndStateIncomeTaxExpenseBenefit
-13000000.0
CY2017 scco Deferred Federal And State Income Tax Expense Benefit
DeferredFederalAndStateIncomeTaxExpenseBenefit
686200000
CY2019 scco Uncertain Tax Positions
UncertainTaxPositions
-1300000
CY2017 scco Uncertain Tax Positions
UncertainTaxPositions
16200000
CY2019 scco Federal And State Income Tax Expense Benefit Continuing Operations
FederalAndStateIncomeTaxExpenseBenefitContinuingOperations
-1300000
CY2018 scco Federal And State Income Tax Expense Benefit Continuing Operations
FederalAndStateIncomeTaxExpenseBenefitContinuingOperations
-10400000
CY2017 scco Federal And State Income Tax Expense Benefit Continuing Operations
FederalAndStateIncomeTaxExpenseBenefitContinuingOperations
702400000
CY2019 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
966300000
CY2018 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
1102400000
CY2017 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
951700000
CY2019 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-30100000
CY2018 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-38500000
CY2017 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-60700000
CY2019 scco Uncertain Tax Position Foreign Income Tax Expenses Benefit
UncertainTaxPositionForeignIncomeTaxExpensesBenefit
10400000
CY2019 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
946600000
CY2018 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
1063900000
CY2017 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
891000000.0
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
945300000
CY2018 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1053500000
CY2017 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1593400000
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-1900000
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-2300000
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-1500000
CY2019 scco Income Loss From Continuing Operations Before Income Taxes Peru
IncomeLossFromContinuingOperationsBeforeIncomeTaxesPeru
513000000.0
CY2018 scco Income Loss From Continuing Operations Before Income Taxes Peru
IncomeLossFromContinuingOperationsBeforeIncomeTaxesPeru
441800000
CY2017 scco Income Loss From Continuing Operations Before Income Taxes Peru
IncomeLossFromContinuingOperationsBeforeIncomeTaxesPeru
284600000
CY2019 scco Income Loss From Continuing Operations Before Income Taxes Mexico
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMexico
1915400000
CY2018 scco Income Loss From Continuing Operations Before Income Taxes Mexico
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMexico
2149900000
CY2017 scco Income Loss From Continuing Operations Before Income Taxes Mexico
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMexico
2019600000
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
2428400000
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
2591700000
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
2304200000
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
2426500000
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
2589400000
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
2302700000
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350
CY2019 scco Effective Income Tax Rate Reconciliation Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationIncomeTaxRateDifferential
0.140
CY2018 scco Effective Income Tax Rate Reconciliation Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationIncomeTaxRateDifferential
0.139
CY2017 scco Effective Income Tax Rate Reconciliation Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationIncomeTaxRateDifferential
0.006
CY2019 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Depletion
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseDepletion
-0.027
CY2018 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Depletion
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseDepletion
-0.021
CY2017 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Depletion
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseDepletion
-0.029
CY2019 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
0.001
CY2018 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
0.004
CY2017 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
0.052
CY2018 scco Effective Income Tax Rate Reconciliation Valuation Allowance On Deferred Tax Assets Foreign Tax Credits And Deferred Tax Effects Percent
EffectiveIncomeTaxRateReconciliationValuationAllowanceOnDeferredTaxAssetsForeignTaxCreditsAndDeferredTaxEffectsPercent
0.075
CY2017 scco Effective Income Tax Rate Reconciliation Valuation Allowance On Deferred Tax Assets Foreign Tax Credits And Deferred Tax Effects Percent
EffectiveIncomeTaxRateReconciliationValuationAllowanceOnDeferredTaxAssetsForeignTaxCreditsAndDeferredTaxEffectsPercent
0.269
CY2019 scco Effective Income Tax Rate Reconciliation Additional Valuation Allowance On Deferred Tax Assets Foreign Tax Credits And Deferred Tax Effects Percent
EffectiveIncomeTaxRateReconciliationAdditionalValuationAllowanceOnDeferredTaxAssetsForeignTaxCreditsAndDeferredTaxEffectsPercent
0.101
CY2018 scco Effective Income Tax Rate Reconciliation Additional Valuation Allowance On Deferred Tax Assets Foreign Tax Credits And Deferred Tax Effects Percent
EffectiveIncomeTaxRateReconciliationAdditionalValuationAllowanceOnDeferredTaxAssetsForeignTaxCreditsAndDeferredTaxEffectsPercent
0.010
CY2018 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
-0.002
CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.048
CY2018 scco Effective Income Tax Rate Reconciliation One Time Toll Charge On Accumulated Foreign Earnings
EffectiveIncomeTaxRateReconciliationOneTimeTollChargeOnAccumulatedForeignEarnings
0.004
CY2017 scco Effective Income Tax Rate Reconciliation One Time Toll Charge On Accumulated Foreign Earnings
EffectiveIncomeTaxRateReconciliationOneTimeTollChargeOnAccumulatedForeignEarnings
0.024
CY2019 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
EffectiveIncomeTaxRateReconciliationTaxContingencies
-0.021
CY2017 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
EffectiveIncomeTaxRateReconciliationTaxContingencies
0.007
CY2017 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.020
CY2019 us-gaap Effective Income Tax Rate Reconciliation Prior Year Income Taxes
EffectiveIncomeTaxRateReconciliationPriorYearIncomeTaxes
-0.011
CY2018 us-gaap Effective Income Tax Rate Reconciliation Prior Year Income Taxes
EffectiveIncomeTaxRateReconciliationPriorYearIncomeTaxes
-0.013
CY2017 us-gaap Effective Income Tax Rate Reconciliation Prior Year Income Taxes
EffectiveIncomeTaxRateReconciliationPriorYearIncomeTaxes
-0.001
CY2019 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.003
CY2018 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.001
CY2017 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.014
CY2019 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.390
CY2018 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.407
CY2017 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.692
CY2019 scco Number Of Jurisdictions Where Entity Files Income Tax Return
NumberOfJurisdictionsWhereEntityFilesIncomeTaxReturn
3
CY2019 scco Effective Income Tax Rate Reconciliation Duration For Which Statutory Rates Considered To Determine Effective Tax Rate
EffectiveIncomeTaxRateReconciliationDurationForWhichStatutoryRatesConsideredToDetermineEffectiveTaxRate
P3Y
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
CY2019Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
55700000
CY2018Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
61500000
CY2019Q4 scco Deferred Tax Assets Capitalized Exploration Expenses
DeferredTaxAssetsCapitalizedExplorationExpenses
14000000.0
CY2018Q4 scco Deferred Tax Assets Capitalized Exploration Expenses
DeferredTaxAssetsCapitalizedExplorationExpenses
11100000
CY2019Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Foreign
DeferredTaxAssetsTaxCreditCarryforwardsForeign
731800000
CY2018Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Foreign
DeferredTaxAssetsTaxCreditCarryforwardsForeign
483400000
CY2019Q4 scco Deferred Tax Assets Tax Effect Of Peruvian Deferred Tax Liability
DeferredTaxAssetsTaxEffectOfPeruvianDeferredTaxLiability
131300000
CY2018Q4 scco Deferred Tax Assets Tax Effect Of Peruvian Deferred Tax Liability
DeferredTaxAssetsTaxEffectOfPeruvianDeferredTaxLiability
165100000
CY2019Q4 scco Deferred Tax Assets Provisions
DeferredTaxAssetsProvisions
145000000.0
CY2018Q4 scco Deferred Tax Assets Provisions
DeferredTaxAssetsProvisions
155000000.0
CY2019Q4 scco Deferred Tax Assets Mexican Tax On Consolidated Dividends
DeferredTaxAssetsMexicanTaxOnConsolidatedDividends
9000000.0
CY2018Q4 scco Deferred Tax Assets Mexican Tax On Consolidated Dividends
DeferredTaxAssetsMexicanTaxOnConsolidatedDividends
14800000
CY2019Q4 scco Deferred Tax Assets Deferred Workers Participation
DeferredTaxAssetsDeferredWorkersParticipation
24700000
CY2018Q4 scco Deferred Tax Assets Deferred Workers Participation
DeferredTaxAssetsDeferredWorkersParticipation
27000000.0
CY2019Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
10000000.0
CY2018Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
9100000
CY2019Q4 scco Deferred Tax Assets Sales Price Adjustment Pui
DeferredTaxAssetsSalesPriceAdjustmentPui
3000000.0
CY2018Q4 scco Deferred Tax Assets Sales Price Adjustment Pui
DeferredTaxAssetsSalesPriceAdjustmentPui
2700000
CY2019Q4 scco Deferred Tax Assets Social Responsibility Expenses
DeferredTaxAssetsSocialResponsibilityExpenses
2100000
CY2018Q4 scco Deferred Tax Assets Social Responsibility Expenses
DeferredTaxAssetsSocialResponsibilityExpenses
2100000
CY2019Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
14500000
CY2018Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
6100000
CY2019Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1097000000.0
CY2018Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
819100000
CY2019Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
9900000
CY2018Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
10100000
CY2019Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
54000000.0
CY2018Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
128900000
CY2019Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
45400000
CY2018Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
137300000
CY2019Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
3000000.0
CY2018Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
400000
CY2019Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
48400000
CY2018Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
137700000
CY2019Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
5600000
CY2018Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
8800000
CY2019 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
277900000
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2019Q4 scco Cash Cash Equivalents Restricted Cash And Short Term Investments
CashCashEquivalentsRestrictedCashAndShortTermInvestments
2005800000
CY2017Q4 scco Tax Cuts And Jobs Act Incomplete Accounting Provisional Undistributed Accumulated Earnings Of Foreign Subsidiary
TaxCutsAndJobsActIncompleteAccountingProvisionalUndistributedAccumulatedEarningsOfForeignSubsidiary
8900000000
CY2019 scco Tax Cuts And Jobs Act Of2017 Incomplete Accounting Federal Income Tax Expense Benefit
TaxCutsAndJobsActOf2017IncompleteAccountingFederalIncomeTaxExpenseBenefit
0
CY2018 scco Tax Cuts And Jobs Act Change In Tax Rate Income Tax Expense Benefit
TaxCutsAndJobsActChangeInTaxRateIncomeTaxExpenseBenefit
153100000
CY2017 us-gaap Tax Cuts And Jobs Act Of2017 Incomplete Accounting Change In Tax Rate Provisional Income Tax Expense Benefit
TaxCutsAndJobsActOf2017IncompleteAccountingChangeInTaxRateProvisionalIncomeTaxExpenseBenefit
181100000
CY2018 scco Tax Cuts And Jobs Act Of2017 Incomplete Accounting Change In Tax Rate Reduced Amount In Income Tax Expense Benefit From Provisional Amount
TaxCutsAndJobsActOf2017IncompleteAccountingChangeInTaxRateReducedAmountInIncomeTaxExpenseBenefitFromProvisionalAmount
28000000
CY2019Q4 scco State Income Tax Liability
StateIncomeTaxLiability
0
CY2019 scco Withholding Taxes Tax Treaty
WithholdingTaxesTaxTreaty
0
CY2019Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Other
DeferredTaxAssetsTaxCreditCarryforwardsOther
0
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2018Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
214500000
CY2017Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
214500000
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
304000000.0
CY2019 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
7500000
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
89500000
CY2019 us-gaap Unrecognized Tax Benefits Decreases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromCurrentPeriodTaxPositions
4200000
CY2019 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
144400000
CY2019 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
-156100000
CY2017 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
-89500000
CY2019Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
58400000
CY2018Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
214500000
CY2017Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
214500000
CY2019Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
10500000
CY2019Q4 scco Number Of Major Tax Jurisdictions
NumberOfMajorTaxJurisdictions
3
CY2019 scco Statutory Workers Participation Workers Participation Expenses Current
StatutoryWorkersParticipationWorkersParticipationExpensesCurrent
188800000
CY2018 scco Statutory Workers Participation Workers Participation Expenses Current
StatutoryWorkersParticipationWorkersParticipationExpensesCurrent
219900000
CY2017 scco Statutory Workers Participation Workers Participation Expenses Current
StatutoryWorkersParticipationWorkersParticipationExpensesCurrent
192700000
CY2019 scco Statutory Workers Participation Workers Participation Expenses Deferred
StatutoryWorkersParticipationWorkersParticipationExpensesDeferred
29800000
CY2018 scco Statutory Workers Participation Workers Participation Expenses Deferred
StatutoryWorkersParticipationWorkersParticipationExpensesDeferred
9800000
CY2017 scco Statutory Workers Participation Workers Participation Expenses Deferred
StatutoryWorkersParticipationWorkersParticipationExpensesDeferred
6600000
CY2019 scco Statutory Workers Participation Workers Participation Expenses
StatutoryWorkersParticipationWorkersParticipationExpenses
218600000
CY2018 scco Statutory Workers Participation Workers Participation Expenses
StatutoryWorkersParticipationWorkersParticipationExpenses
229700000
CY2017 scco Statutory Workers Participation Workers Participation Expenses
StatutoryWorkersParticipationWorkersParticipationExpenses
199300000
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0366
CY2019 us-gaap Operating Lease Expense
OperatingLeaseExpense
114800000
CY2019 us-gaap Short Term Lease Cost
ShortTermLeaseCost
400000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
116100000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
116000000.0
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
112900000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
111600000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
103600000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
826300000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1386500000
CY2019Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
340100000
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1046400000
CY2019Q2 scco Maximum Percentage Of Annual Guarantees Secured
MaximumPercentageOfAnnualGuaranteesSecured
0.50
CY2019 scco Percentage Of Guarantee For Pledged Office Complex
PercentageOfGuaranteeForPledgedOfficeComplex
0.50
CY2019 scco Percentage Of Security For Stand By Letter Of Credit
PercentageOfSecurityForStandByLetterOfCredit
0.50
CY2018Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
217700000
CY2017Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
222500000
CY2019 us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
36400000
CY2018 us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
-15600000
CY2019 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
5300000
CY2018 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
600000
CY2019 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
13500000
CY2018 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
11400000
CY2019Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
262300000
CY2018Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
217700000
CY2019Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
7051200000
CY2019Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
69600000
CY2019Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
40800000
CY2019Q4 us-gaap Long Term Debt
LongTermDebt
6940800000
CY2019Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
399800000
CY2019Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
6541000000.0
CY2018Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
6125000000
CY2018Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
58800000
CY2018Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
32300000
CY2018Q4 us-gaap Long Term Debt
LongTermDebt
5960100000
CY2018Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
5960100000
scco Number Of Times Senior Unsecured Notes Issued
NumberOfTimesSeniorUnsecuredNotesIssued
6
CY2012Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
4200000000
CY2015Q2 scco Debt Instrument Number Of Tranches
DebtInstrumentNumberOfTranches
2
CY2015Q2 us-gaap Payments For Underwriting Expense
PaymentsForUnderwritingExpense
20200000
CY2015Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
11800000
CY2019 scco Debt Instrument Redemption Price Due To Control Change As Percentage Of Principal Amount
DebtInstrumentRedemptionPriceDueToControlChangeAsPercentageOfPrincipalAmount
1.01
CY2019 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
2900000000
CY2019 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
119500000
CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
400000000.0
CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
300000000.0
CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
6351200000
CY2019Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
7051200000
CY2019Q4 scco Debt Discount Valuation
DebtDiscountValuation
110400000
CY2019 scco Defined Benefit Plan Number Of Expatriate Noncontributory Plans
DefinedBenefitPlanNumberOfExpatriateNoncontributoryPlans
2
CY2019 us-gaap Environmental Costs Recognized Capitalized In Period
EnvironmentalCostsRecognizedCapitalizedInPeriod
82900000
CY2018 us-gaap Environmental Costs Recognized Capitalized In Period
EnvironmentalCostsRecognizedCapitalizedInPeriod
102800000
CY2017 us-gaap Environmental Costs Recognized Capitalized In Period
EnvironmentalCostsRecognizedCapitalizedInPeriod
222600000
CY2019 scco Minimum Period Of Sustainability Reports Issued
MinimumPeriodOfSustainabilityReportsIssued
P10Y
CY2019Q4 scco Number Of Leading Companies
NumberOfLeadingCompanies
42
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
CY2019 scco Number Of Lawsuits In Process
NumberOfLawsuitsInProcess
3
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
CY2019 scco Commitments For Capital Projects
CommitmentsForCapitalProjects
198200000
CY2018Q4 us-gaap Treasury Stock Value
TreasuryStockValue
3019600000
CY2008Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
500000000
CY2019Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
3000000000
CY2019Q4 us-gaap Treasury Stock Value
TreasuryStockValue
3048900000
CY2019Q4 scco Stock Repurchase Program Repurchase Price
StockRepurchaseProgramRepurchasePrice
42.48
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