$SCCO
SOUTHERN COPPER CORP/

2021 Q3 Form 10-Q Financial Statement

#000155837021009358 Filed on July 27, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2021 Q2 2020 Q2
Revenue $2.681B $2.897B $1.785B
YoY Change 25.92% 62.26% -1.79%
Cost Of Revenue $927.5M $985.5M $976.7M
YoY Change -2.26% 0.9% 12.61%
Gross Profit $1.753B $1.912B $808.7M
YoY Change 48.57% 136.37% 7.55%
Gross Profit Margin 65.4% 65.98% 45.3%
Selling, General & Admin $31.30M $31.40M $31.40M
YoY Change -6.29% 0.0% 1.62%
% of Gross Profit 1.79% 1.64% 3.88%
Research & Development $10.90M $9.400M $6.200M
YoY Change 57.97% 51.61% -16.22%
% of Gross Profit 0.62% 0.49% 0.77%
Depreciation & Amortization $203.4M $195.4M $193.8M
YoY Change 3.78% 0.83% -2.52%
% of Gross Profit 11.6% 10.22% 23.96%
Operating Expenses $31.30M $31.40M $31.40M
YoY Change -6.29% 0.0% 1.62%
Operating Profit $1.508B $1.675B $577.2M
YoY Change 59.74% 190.23% -19.11%
Interest Expense -$87.40M -$88.00M -$87.80M
YoY Change 1.16% 0.23% 10.3%
% of Operating Profit -5.8% -5.25% -15.21%
Other Income/Expense, Net -$1.900M -$8.200M -$1.000M
YoY Change -86.43% 720.0% -104.35%
Pretax Income $1.419B $1.579B $488.4M
YoY Change 68.17% 223.3% -25.66%
Income Tax $548.6M $647.7M $224.4M
% Of Pretax Income 38.67% 41.02% 45.95%
Net Earnings $871.2M $936.4M $260.9M
YoY Change 71.46% 258.91% -35.48%
Net Earnings / Revenue 32.5% 32.32% 14.61%
Basic Earnings Per Share $1.12 $1.21
Diluted Earnings Per Share $1.122M $1.21 $335.7K
COMMON SHARES
Basic Shares Outstanding 773.1M 773.1M 773.1M
Diluted Shares Outstanding 773.1M 773.1M

Balance Sheet

Concept 2021 Q3 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.584B $2.395B $1.809B
YoY Change 20.41% 32.35% 140.29%
Cash & Equivalents $2.584B $2.394B $1.809B
Short-Term Investments $400.0K $500.0K $600.0K
Other Short-Term Assets $53.90M $44.60M $18.10M
YoY Change 18.2% 146.41% -34.89%
Inventory $912.5M $893.9M $980.4M
Prepaid Expenses
Receivables $1.493B $1.436B $854.0M
Other Receivables $86.40M $71.00M $84.00M
Total Short-Term Assets $5.891B $5.512B $3.860B
YoY Change 35.8% 42.8% 24.58%
LONG-TERM ASSETS
Property, Plant & Equipment $9.476B $9.456B $9.197B
YoY Change 3.62% 2.82% -2.31%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $120.5M $123.4M $106.9M
YoY Change 9.55% 15.43% 3.79%
Other Assets $99.50M $105.1M $78.00M
YoY Change 26.75% 34.74% -13.43%
Total Long-Term Assets $12.22B $12.18B $11.95B
YoY Change 2.59% 2.0% -2.46%
TOTAL ASSETS
Total Short-Term Assets $5.891B $5.512B $3.860B
Total Long-Term Assets $12.22B $12.18B $11.95B
Total Assets $18.11B $17.70B $15.81B
YoY Change 11.46% 11.96% 3.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $611.2M $560.8M $554.8M
YoY Change 7.83% 1.08% -12.05%
Accrued Expenses $523.0M $430.5M $293.0M
YoY Change 29.14% 46.93% 3.53%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $1.789B $1.452B $891.8M
YoY Change 54.01% 62.83% -35.63%
LONG-TERM LIABILITIES
Long-Term Debt $6.547B $6.546B $6.543B
YoY Change 0.05% 0.05% 17.63%
Other Long-Term Liabilities $89.10M $128.3M $134.4M
YoY Change -35.06% -4.54% 78.49%
Total Long-Term Liabilities $8.168B $8.271B $8.044B
YoY Change 1.87% 2.82% 12.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.789B $1.452B $891.8M
Total Long-Term Liabilities $8.168B $8.271B $8.044B
Total Liabilities $9.957B $9.723B $8.935B
YoY Change 8.47% 8.81% 4.43%
SHAREHOLDERS EQUITY
Retained Earnings $7.710B $7.538B $6.446B
YoY Change 16.06% 16.94% 1.37%
Common Stock $3.469B $3.464B $3.427B
YoY Change 1.0% 1.07% 0.31%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.081B $3.076B $3.042B
YoY Change 1.08% 1.13% 0.3%
Treasury Stock Shares
Shareholders Equity $8.096B $7.918B $6.822B
YoY Change
Total Liabilities & Shareholders Equity $18.11B $17.70B $15.81B
YoY Change 11.46% 11.96% 3.0%

Cashflow Statement

Concept 2021 Q3 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income $871.2M $936.4M $260.9M
YoY Change 71.46% 258.91% -35.48%
Depreciation, Depletion And Amortization $203.4M $195.4M $193.8M
YoY Change 3.78% 0.83% -2.52%
Cash From Operating Activities $1.221B $1.062B $419.3M
YoY Change 53.82% 153.16% 1.26%
INVESTING ACTIVITIES
Capital Expenditures $243.1M $219.8M $113.3M
YoY Change 80.74% 94.0% -37.2%
Acquisitions
YoY Change
Other Investing Activities -$9.900M $10.40M $10.00M
YoY Change 1137.5% 4.0% -10100.0%
Cash From Investing Activities -$314.2M -$360.1M -$103.2M
YoY Change 135.0% 248.93% 20.56%
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 -697.4M -542.5M -554.8M
YoY Change 125.77% -2.22% 79.55%
NET CHANGE
Cash From Operating Activities 1.221B 1.062B 419.3M
Cash From Investing Activities -314.2M -360.1M -103.2M
Cash From Financing Activities -697.4M -542.5M -554.8M
Net Change In Cash 189.4M 127.0M -242.8M
YoY Change -43.73% -152.31% -1697.37%
FREE CASH FLOW
Cash From Operating Activities $1.221B $1.062B $419.3M
Capital Expenditures $243.1M $219.8M $113.3M
Free Cash Flow $977.5M $841.7M $306.0M
YoY Change 48.33% 175.07% 30.94%

Facts In Submission

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SOUTHERN COPPER CORP/
dei Entity Central Index Key
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dei Current Fiscal Year End Date
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dei Entity Tax Identification Number
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dei Entity Address Address Line1
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1440 East Missouri Avenue Suite 160
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Southern Copper Corporation</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">(Unaudited)</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';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','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">The Company is a majority-owned, indirect subsidiary of Grupo Mexico S.A.B. de C.V. (“Grupo Mexico”). As of June 30, 2021, 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','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';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 fairly state the Company’s financial position as of June 30, 2021 and the results of operations, comprehensive income, cash flows and changes in equity for the three and six months ended June 30, 2021 and 2020. The results of operations for the six months ended June 30, 2021 are not necessarily indicative of the results to be expected for the full year. The December 31, 2020 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, 2020 and notes included in the Company’s 2020 annual report on Form 10-K.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';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','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';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','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">As of June 30, 2021, the Company‘s production facilities in Mexico and Peru were working at approximately 95% of their production capacity. The Company has developed a rigorous COVID-19 emergency protocol and the workforce is gradually returning to work at all of our facilities. As of June 30, 2021, approximately 96% of the workforce in Mexico was working on site or at home under strict safety measures; the remaining 4% of the workforce was not working, including all individuals at high risk due to age and/or preexisting medical conditions. At our Peruvian operations, approximately 67% of the workforce was working on site or at home under strict safety measures, while the remaining 33% was not working, including all individuals at high risk due to age and/or preexisting medical conditions. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">The Company has restarted exploration activities at all of its locations. Activities resumed in Ecuador in September 2020; at the end of the second quarter of 2020 in Argentina; and in February 2021 in Chile.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';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','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">SCC´s Corporate Crisis Committee as well as its Crisis Committees in Mexico and Peru continue to closely monitor the impact of the pandemic and to analyze and quickly resolve any issues that may arise. As of June 30, 2021, there were no major delays in the supply of materials and services critical for the operations and sales. Also, shipments and collections have registered no known major delays.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">After having completed the first stage of its capital programs at Buenavista in Mexico and Toquepala in Peru, the Company currently has no pending major capital expenditure<span style="text-decoration:line-through;">s</span> commitments (see Note 9 - 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 scheduled until 2022.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">The Company performed a qualitative analysis and as of June 30, 2021, identified no indicators of impairment. As the Company reported in its 2020 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 1.3 to 4.3 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 2020 Form 10-K).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p>
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us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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DueFromRelatedPartiesCurrent
27600000
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DueFromRelatedPartiesCurrent
23300000
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104300000
us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
1000000.0
us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
2600000
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
900000
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
1000000.0
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P9Y
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0369
us-gaap Operating Lease Expense
OperatingLeaseExpense
57400000
us-gaap Operating Lease Expense
OperatingLeaseExpense
57700000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
57300000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
113700000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
112200000
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104800000
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LesseeOperatingLeaseLiabilityPaymentsDueYearFour
103700000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
723000000.0
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1214700000
CY2021Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
270400000
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
944300000
scco Maximum Percentage Of Annual Guarantees Secured
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0.50
scco Percentage Of Guarantee For Pledged Office Complex
PercentageOfGuaranteeForPledgedOfficeComplex
0.50
scco Percentage Of Security For Stand By Letter Of Credit
PercentageOfSecurityForStandByLetterOfCredit
0.50
CY2021Q2 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
56500000
CY2020Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
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AssetRetirementObligation
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us-gaap Asset Retirement Obligation Liabilities Settled
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AssetRetirementObligationAccretionExpense
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CY2021Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
555300000
CY2020Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
268900000
scco Defined Benefit Plan Number Of Expatriate Noncontributory Plans
DefinedBenefitPlanNumberOfExpatriateNoncontributoryPlans
2
us-gaap Environmental Costs Recognized Capitalized In Period
EnvironmentalCostsRecognizedCapitalizedInPeriod
22500000
us-gaap Environmental Costs Recognized Capitalized In Period
EnvironmentalCostsRecognizedCapitalizedInPeriod
13900000
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
3
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
scco Commitments For Capital Projects
CommitmentsForCapitalProjects
253400000
CY2021Q2 us-gaap Treasury Stock Value
TreasuryStockValue
3075800000
CY2020Q2 us-gaap Treasury Stock Value
TreasuryStockValue
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500000000
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3000000000
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
119500000
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
2900000000
CY2021Q2 scco Stock Repurchase Program Repurchase Price
StockRepurchaseProgramRepurchasePrice
64.32
CY2021Q2 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
1300000
CY2021Q2 scco Percentage Of Ownership By Parent
PercentageOfOwnershipByParent
0.889
CY2020Q4 us-gaap Minority Interest
MinorityInterest
51200000
CY2019Q4 us-gaap Minority Interest
MinorityInterest
47900000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
7000000.0
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2800000
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
2900000
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
2600000
CY2021Q2 us-gaap Minority Interest
MinorityInterest
55300000
CY2020Q2 us-gaap Minority Interest
MinorityInterest
48100000
CY2021Q2 us-gaap Long Term Debt
LongTermDebt
6545900000
CY2021Q2 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
8725700000
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LongTermDebt
6544200000
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LongTermDebtFairValue
9077800000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5429500000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3505100000
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2897000000.0
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5429500000
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1785400000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3505100000
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2897000000.0
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5429500000
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1785400000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3505100000
CY2021Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
1435600000
CY2021Q2 us-gaap Due From Related Parties Current
DueFromRelatedPartiesCurrent
27600000
CY2020Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
1068900000
CY2020Q4 us-gaap Due From Related Parties Current
DueFromRelatedPartiesCurrent
23300000
scco Long Term Contracts Table Text Bloc
LongTermContractsTableTextBloc
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">As of June 30, 2021, the Company has long-term contracts with promises to deliver the following products in 2021:</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><table style="border-collapse:collapse;font-size:16pt;height:max-content;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','Times','serif';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','Times','serif';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','Times','serif';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','Times','serif';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','Times','serif';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','Times','serif';font-size:10pt;text-align:right;margin:0pt 3.5pt 0pt 0pt;"> 188,000</p></td></tr><tr><td style="vertical-align:bottom;width:81.5%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';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','Times','serif';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','Times','serif';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','Times','serif';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','Times','serif';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','Times','serif';font-size:10pt;text-align:right;margin:0pt 3.5pt 0pt 0pt;"> 41,414</p></td></tr><tr><td style="vertical-align:bottom;width:81.5%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';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','Times','serif';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','Times','serif';font-size:10pt;text-align:right;margin:0pt 3.5pt 0pt 0pt;"> 322,415</p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p>
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2021Q2 us-gaap Cost Of Revenue
CostOfRevenue
985500000
CY2021Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
31400000
CY2021Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
195400000
CY2021Q2 us-gaap Exploration Expense
ExplorationExpense
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CY2021Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
1675200000
CY2021Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-88000000.0
CY2021Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-8200000
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
647700000
CY2021Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
5100000
CY2021Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
3700000
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
932700000
CY2021Q2 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
219800000
CY2021Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9456100000
CY2021Q2 us-gaap Assets
Assets
17695400000
us-gaap Cost Of Revenue
CostOfRevenue
1929300000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
61600000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
396000000.0
us-gaap Exploration Expense
ExplorationExpense
15800000
us-gaap Operating Income Loss
OperatingIncomeLoss
3026800000
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-175200000
us-gaap Other Nonoperating Income Expense
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-5900000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1155200000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
13100000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
7000000.0
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1696600000
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
452400000
CY2021Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9456100000
CY2021Q2 us-gaap Assets
Assets
17695400000
CY2020Q2 us-gaap Cost Of Revenue
CostOfRevenue
976700000
CY2020Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
31400000
CY2020Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
193800000
CY2020Q2 us-gaap Exploration Expense
ExplorationExpense
6300000
CY2020Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
577200000
CY2020Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-87800000
CY2020Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1000000.0
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
224400000
CY2020Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-3100000
CY2020Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1400000
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
259500000
CY2020Q2 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
113300000
CY2020Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9197000000.0
CY2020Q2 us-gaap Assets
Assets
15805000000.0
us-gaap Cost Of Revenue
CostOfRevenue
1932400000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
60600000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
386800000
us-gaap Exploration Expense
ExplorationExpense
14900000
us-gaap Operating Income Loss
OperatingIncomeLoss
1110400000
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-176600000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-8400000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
446200000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-2100000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2800000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
474300000
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
214300000
CY2020Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9197000000.0
CY2020Q2 us-gaap Assets
Assets
15805000000.0

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