$SCCO
SOUTHERN COPPER CORP/

2020 Q2 Form 10-Q Financial Statement

#000155837020005051 Filed on May 04, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2020 Q1 2019 Q1
Revenue $1.785B $1.720B $1.753B
YoY Change -1.79% -1.92% -4.76%
Cost Of Revenue $976.7M $955.8M $844.1M
YoY Change 12.61% 13.23% -3.7%
Gross Profit $808.7M $763.9M $727.7M
YoY Change 7.55% 4.97% -9.33%
Gross Profit Margin 45.3% 44.42% 41.5%
Selling, General & Admin $31.40M $29.10M $28.50M
YoY Change 1.62% 2.11% 18.26%
% of Gross Profit 3.88% 3.81% 3.92%
Research & Development $6.200M $8.600M $5.500M
YoY Change -16.22% 56.36% 5.77%
% of Gross Profit 0.77% 1.13% 0.76%
Depreciation & Amortization $193.8M $192.9M $181.6M
YoY Change -2.52% 6.22% 12.1%
% of Gross Profit 23.96% 25.25% 24.96%
Operating Expenses $31.40M $29.10M $28.50M
YoY Change 1.62% 2.11% -85.1%
Operating Profit $577.2M $533.3M $693.7M
YoY Change -19.11% -23.12% -10.29%
Interest Expense -$87.80M -$89.00M -$74.10M
YoY Change 10.3% 20.11% 11.26%
% of Operating Profit -15.21% -16.69% -10.68%
Other Income/Expense, Net -$1.000M -$7.400M $5.400M
YoY Change -104.35% -237.04% -334.78%
Pretax Income $488.4M $436.9M $625.0M
YoY Change -25.66% -30.1% -11.27%
Income Tax $224.4M $221.7M $237.9M
% Of Pretax Income 45.95% 50.74% 38.06%
Net Earnings $260.9M $216.2M $389.2M
YoY Change -35.48% -44.45% -17.52%
Net Earnings / Revenue 14.61% 12.57% 22.2%
Basic Earnings Per Share
Diluted Earnings Per Share $335.7K $277.8K $502.2K
COMMON SHARES
Basic Shares Outstanding 773.1M 773.1M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q2 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.809B $2.052B $951.0M
YoY Change 140.29% 115.79% -15.47%
Cash & Equivalents $1.809B $2.052B $737.0M
Short-Term Investments $600.0K $600.0K $214.0M
Other Short-Term Assets $18.10M $20.40M $161.0M
YoY Change -34.89% -87.33% 21.05%
Inventory $980.4M $1.079B $1.036B
Prepaid Expenses
Receivables $854.0M $709.7M $877.0M
Other Receivables $84.00M $80.00M $158.0M
Total Short-Term Assets $3.860B $4.140B $3.182B
YoY Change 24.58% 30.1% -4.07%
LONG-TERM ASSETS
Property, Plant & Equipment $9.197B $9.289B $9.384B
YoY Change -2.31% -1.01% 2.9%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $106.9M $112.9M $105.0M
YoY Change 3.79% 7.52% 5.0%
Other Assets $78.00M $88.90M $1.632B
YoY Change -13.43% -94.55% 20.98%
Total Long-Term Assets $11.95B $12.07B $12.36B
YoY Change -2.46% -2.33% 15.29%
TOTAL ASSETS
Total Short-Term Assets $3.860B $4.140B $3.182B
Total Long-Term Assets $11.95B $12.07B $12.36B
Total Assets $15.81B $16.21B $15.54B
YoY Change 3.0% 4.31% 10.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $554.8M $597.8M $521.0M
YoY Change -12.05% 14.74% -10.33%
Accrued Expenses $293.0M $373.0M $418.0M
YoY Change 3.53% -10.77% 16.11%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $400.0M
YoY Change -100.0%
Total Short-Term Liabilities $891.8M $1.387B $1.123B
YoY Change -35.63% 23.53% -4.83%
LONG-TERM LIABILITIES
Long-Term Debt $6.543B $6.542B $5.961B
YoY Change 17.63% 9.74% 0.05%
Other Long-Term Liabilities $134.4M $111.1M $1.559B
YoY Change 78.49% -92.87% 229.6%
Total Long-Term Liabilities $8.044B $8.062B $7.520B
YoY Change 12.17% 7.2% 16.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $891.8M $1.387B $1.123B
Total Long-Term Liabilities $8.044B $8.062B $7.520B
Total Liabilities $8.935B $9.449B $8.896B
YoY Change 4.43% 6.22% 15.67%
SHAREHOLDERS EQUITY
Retained Earnings $6.446B $6.341B
YoY Change 1.37%
Common Stock $3.427B $3.419B
YoY Change 0.31%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.042B $3.034B $3.026B
YoY Change 0.3% 0.27%
Treasury Stock Shares
Shareholders Equity $6.822B $6.716B $6.647B
YoY Change
Total Liabilities & Shareholders Equity $15.81B $16.21B $15.54B
YoY Change 3.0% 4.3% 10.72%

Cashflow Statement

Concept 2020 Q2 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income $260.9M $216.2M $389.2M
YoY Change -35.48% -44.45% -17.52%
Depreciation, Depletion And Amortization $193.8M $192.9M $181.6M
YoY Change -2.52% 6.22% 12.1%
Cash From Operating Activities $419.3M $475.1M $371.3M
YoY Change 1.26% 27.96% -42.86%
INVESTING ACTIVITIES
Capital Expenditures $113.3M $101.0M $173.1M
YoY Change -37.2% -41.65% -158.54%
Acquisitions
YoY Change
Other Investing Activities $10.00M -$400.0K $300.0K
YoY Change -10100.0% -233.33% -105.26%
Cash From Investing Activities -$103.2M -$60.60M -$172.8M
YoY Change 20.56% -64.93% -42.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $400.0M
YoY Change
Cash From Financing Activities -554.8M -311.4M -309.3M
YoY Change 79.55% 0.68% 32.86%
NET CHANGE
Cash From Operating Activities 419.3M 475.1M 371.3M
Cash From Investing Activities -103.2M -60.60M -172.8M
Cash From Financing Activities -554.8M -311.4M -309.3M
Net Change In Cash -242.8M 126.5M -107.6M
YoY Change -1697.37% -217.57% -193.08%
FREE CASH FLOW
Cash From Operating Activities $419.3M $475.1M $371.3M
Capital Expenditures $113.3M $101.0M $173.1M
Free Cash Flow $306.0M $374.1M $198.2M
YoY Change 30.94% 88.75% -79.04%

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CY2019Q1 scco Court Order Settlement Payment
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CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2020Q1 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 </span>March 31, 2020, Grupo Mexico through its wholly-owned subsidiary Americas Mining Corporation (“AMC”) owned 88.9% of the Company’s capital stock. The condensed consolidated financial statements presented herein consist of the accounts of Southern Copper Corporation (“Southern Copper”, "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.</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 March 31, 2020 and the results of operations, comprehensive income, cash flows and changes in equity for the three months ended March 31, 2020 and 2019. The results of operations for the three months ended March 31, 2020 are not necessarily indicative of the results to be expected for the full year. The December 31, 2019 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, 2019 and notes included in the Company’s 2019 annual report on Form 10-K.</p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="background-color:#ffff00;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><b style="font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">COVID – 19 PANDEMIC</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;">Since the World Health Organization (“WHO”) declared the COVID-19 virus outbreak as a global pandemic, all the countries where the Company operates and conducts exploration activities, as well as the countries where its main customers and suppliers are located have published health and safety rules and restrictions on individuals and business activities.</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;">As of March 31, 2020, the Company‘s production facilities in Mexico and Peru were working at approximately 90% of their production capacity. The Company has developed a rigorous COVID-19 emergency protocol and approximately 40% of the workforce in Mexico, or 6,333 employees, were working on site under strict safety measures. The remaining workforce of 8,751 employees were working from home, including all individuals at high risk due to age and/or prior medical conditions. For the Peruvian operations, approximately 39% of the workforce, or 3,499 employees were working on site under strict safety measures, while the remaining 5,468 employees were working from home, due to the same reasons explained above. These employees numbers include the Company´s personnel and contractors.</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;">The Company’s exploration activities in Argentina, Ecuador and Chile were also reduced and their drilling teams are on stand-by.</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;">The financial reporting process and the information required to prepare the Company’s financial statements suffered no interruption and the financial statements were prepared without restrictions or difficulties.</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;text-align:justify;margin:0pt;">The Company has activated its Corporate Crisis Committee as well as its Crisis Committees in Mexico and Peru to closely monitor the impact of the pandemic as well as to analyze and solve any issues that may arise without delay. As of March 31, 2020, there were no major delays in the supply of materials and services critical for the operations and sales. Also, shipments and collections have had no known major delays.</p><p style="font-family:'Times New Roman';font-size:10pt;text-align:justify;margin:0pt;"><span style="background-color:#ffff00;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman';font-size:10pt;text-align:justify;margin:0pt;">After completing the first stage of its capital programs at Buenavista in Mexico and Toquepala in Peru, the Company currently does not have major capital expenditures commitments (see Note 10 - Commitments and Contingencies). The Company paid the first tranche of its 2010 bonds of $400 million on April 15, 2020. The Company has no other major debt maturity until 2022.</p><p style="font-family:'Times New Roman';font-size:10pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">At March 31, 2020 the Company has performed a qualitative analysis and has not identified any indicator of impairment. As the Company reported on its 2019 Annual report on Form 10-K, the results of its impairment sensitivity analysis showed projected discounted cash flows in excess of the carrying amounts of long lived assets by margins ranging from 1.2 to 4.8 times such carrying amount. This analysis included a stress test using a copper price assumption of $2.00 per pound and a molybdenum price assumption of $4.00 per pound. (Please see, Management´s Discussion and Analysis, Critical Policies and Estimates, Asset Impairments on the 2019 Form 10-K).</p>
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CY2020Q1 scco Copper Price Assumption
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CY2020Q1 scco Inventory Ore Stockpiles On Leach Pads Capitalized Costs
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CY2020Q1 scco Mining Royalty Tax Peru
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CY2019Q1 scco Mining Royalty Tax Peru
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CY2020Q1 scco Mining Royalty Tax Mexico
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CY2019Q1 scco Mining Royalty Tax Mexico
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CY2020Q1 scco Special Mining Tax
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OperatingLeaseExpense
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CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due
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CY2020Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2020Q1 us-gaap Operating Lease Liability
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CY2020Q1 scco Maximum Percentage Of Annual Guarantees Secured
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CY2020Q1 scco Percentage Of Guarantee For Pledged Office Complex
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0.50
CY2020Q1 scco Percentage Of Security For Stand By Letter Of Credit
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0.50
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CY2020Q1 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
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CY2019Q1 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
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CY2020Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
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CY2019Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
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CY2020Q1 scco Defined Benefit Plan Number Of Expatriate Noncontributory Plans
DefinedBenefitPlanNumberOfExpatriateNoncontributoryPlans
2
CY2020Q1 us-gaap Environmental Costs Recognized Capitalized In Period
EnvironmentalCostsRecognizedCapitalizedInPeriod
12400000
CY2019Q1 us-gaap Environmental Costs Recognized Capitalized In Period
EnvironmentalCostsRecognizedCapitalizedInPeriod
19200000
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
CY2020Q1 scco Number Of Lawsuits In Process
NumberOfLawsuitsInProcess
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
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CY2020Q1 us-gaap Treasury Stock Value
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us-gaap Treasury Stock Shares Acquired
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us-gaap Treasury Stock Value Acquired Cost Method
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CY2020Q1 scco Stock Repurchase Program Repurchase Price
StockRepurchaseProgramRepurchasePrice
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CY2020Q1 scco Percentage Of Ownership By Parent
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CY2020Q1 us-gaap Minority Interest
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CY2019Q1 us-gaap Minority Interest
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CY2019Q4 us-gaap Long Term Debt Fair Value
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CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2019Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2019Q1 us-gaap Assets
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CY2019Q4 us-gaap Due From Related Parties Current
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CY2019Q4 us-gaap Due From Related Parties Noncurrent
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CY2020Q1 scco Long Term Contracts Table Text Bloc
LongTermContractsTableTextBloc
<p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">As of March 31, 2020, the Company has long-term contracts with promises to deliver the following products in 2020:</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:81.5%;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:4.23%;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:14.25%;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:81.5%;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:4.23%;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:14.25%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:right;margin:0pt 3.5pt 0pt 0pt;"> 870,000</p></td></tr><tr><td style="vertical-align:bottom;width:81.5%;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:4.23%;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:14.25%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:right;margin:0pt 3.5pt 0pt 0pt;"> 48,000</p></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:81.5%;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:4.23%;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:14.25%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:right;margin:0pt 3.5pt 0pt 0pt;"> 24,061</p></td></tr><tr><td style="vertical-align:bottom;width:81.5%;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:4.23%;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:14.25%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:right;margin:0pt 3.5pt 0pt 0pt;"> 292,400</p></td></tr></table><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p>
CY2020Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2020Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2020Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2020Q1 us-gaap Cost Of Revenue
CostOfRevenue
955800000
CY2020Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
29100000
CY2020Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
192900000
CY2020Q1 us-gaap Exploration Expense
ExplorationExpense
8600000
CY2020Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
533300000
CY2020Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-89000000.0
CY2020Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-7400000
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
221700000
CY2020Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1000000.0
CY2020Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1400000
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
214800000
CY2020Q1 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
101000000.0
CY2020Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9288700000
CY2020Q1 us-gaap Assets
Assets
16212100000
CY2019Q1 us-gaap Cost Of Revenue
CostOfRevenue
844100000
CY2019Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
28500000
CY2019Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
181600000
CY2019Q1 us-gaap Exploration Expense
ExplorationExpense
5500000
CY2019Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
693700000
CY2019Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-74100000
CY2019Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
5400000
CY2019Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
237900000
CY2019Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
2100000
CY2019Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1000000.0

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