$SCCO
SOUTHERN COPPER CORP/

2021 Q4 Form 10-Q Financial Statement

#000155837021013931 Filed on November 01, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $2.824B $2.681B $2.129B
YoY Change 20.12% 25.92% 14.5%
Cost Of Revenue $1.015B $927.5M $948.9M
YoY Change 0.35% -2.26% 4.68%
Gross Profit $1.808B $1.753B $1.180B
YoY Change 35.07% 48.57% 56.8%
Gross Profit Margin 64.04% 65.4% 55.43%
Selling, General & Admin $54.70M $31.30M $33.40M
YoY Change -9.29% -6.29% 4.38%
% of Gross Profit 3.02% 1.79% 2.83%
Research & Development $16.60M $10.90M $6.900M
YoY Change 55.14% 57.97% 0.0%
% of Gross Profit 0.92% 0.62% 0.58%
Depreciation & Amortization $206.6M $203.4M $196.0M
YoY Change 7.16% 3.78% -2.15%
% of Gross Profit 11.42% 11.6% 16.61%
Operating Expenses $277.9M $31.30M $33.40M
YoY Change 5.34% -6.29% 4.38%
Operating Profit $1.531B $1.508B $943.9M
YoY Change 42.36% 59.74% 32.24%
Interest Expense -$87.30M -$87.40M -$86.40M
YoY Change 3.44% 1.16% 9.78%
% of Operating Profit -5.7% -5.8% -9.15%
Other Income/Expense, Net -$10.60M -$1.900M -$14.00M
YoY Change 107.84% -86.43% 122.22%
Pretax Income $1.433B $1.419B $843.5M
YoY Change 46.65% 68.17% 34.14%
Income Tax $595.4M $548.6M $338.5M
% Of Pretax Income 41.56% 38.67% 40.13%
Net Earnings $832.9M $871.2M $508.1M
YoY Change 41.15% 71.46% 29.85%
Net Earnings / Revenue 29.5% 32.5% 23.86%
Basic Earnings Per Share $1.12
Diluted Earnings Per Share $1.077M $1.122M $654.5K
COMMON SHARES
Basic Shares Outstanding 773.1M 773.1M 773.1M
Diluted Shares Outstanding 773.1M

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.002B $2.584B $2.146B
YoY Change 37.46% 20.41% 10.85%
Cash & Equivalents $3.002B $2.584B $2.145B
Short-Term Investments $400.0K $400.0K $600.0K
Other Short-Term Assets $33.50M $53.90M $45.60M
YoY Change 14.73% 18.2% -5.79%
Inventory $972.9M $912.5M $977.3M
Prepaid Expenses
Receivables $1.359B $1.493B $955.5M
Other Receivables $87.90M $86.40M $81.00M
Total Short-Term Assets $6.140B $5.891B $4.338B
YoY Change 27.5% 35.8% 3.83%
LONG-TERM ASSETS
Property, Plant & Equipment $9.464B $9.476B $9.145B
YoY Change 0.06% 3.62% -2.67%
Goodwill $41.90M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments $115.4M $120.5M $110.0M
YoY Change 0.96% 9.55% 1.95%
Other Assets $110.0M $99.50M $78.50M
YoY Change 35.3% 26.75% -16.49%
Total Long-Term Assets $12.16B $12.22B $11.91B
YoY Change 0.22% 2.59% -3.3%
TOTAL ASSETS
Total Short-Term Assets $6.140B $5.891B $4.338B
Total Long-Term Assets $12.16B $12.22B $11.91B
Total Assets $18.30B $18.11B $16.25B
YoY Change 7.97% 11.46% -1.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $591.9M $611.2M $566.8M
YoY Change -0.45% 7.83% -1.43%
Accrued Expenses $525.8M $523.0M $405.0M
YoY Change 17.1% 29.14% 7.43%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $299.7M
YoY Change
Total Short-Term Liabilities $2.250B $1.789B $1.162B
YoY Change 62.48% 54.01% -18.89%
LONG-TERM LIABILITIES
Long-Term Debt $6.248B $6.547B $6.543B
YoY Change -4.53% 0.05% 0.05%
Other Long-Term Liabilities $68.30M $89.10M $137.2M
YoY Change -46.93% -35.06% -0.29%
Total Long-Term Liabilities $7.840B $8.168B $8.018B
YoY Change -5.38% 1.87% -2.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.250B $1.789B $1.162B
Total Long-Term Liabilities $7.840B $8.168B $8.018B
Total Liabilities $10.09B $9.957B $9.179B
YoY Change 4.34% 8.47% -4.62%
SHAREHOLDERS EQUITY
Retained Earnings $7.770B $7.710B $6.643B
YoY Change 13.49% 16.06% 3.16%
Common Stock $3.463B $3.469B $3.435B
YoY Change 0.37% 1.0% 0.29%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.074B $3.081B $3.048B
YoY Change 0.34% 1.08% 0.27%
Treasury Stock Shares
Shareholders Equity $8.149B $8.096B $7.019B
YoY Change
Total Liabilities & Shareholders Equity $18.30B $18.11B $16.25B
YoY Change 7.97% 11.46% -1.49%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $832.9M $871.2M $508.1M
YoY Change 41.15% 71.46% 29.85%
Depreciation, Depletion And Amortization $206.6M $203.4M $196.0M
YoY Change 7.16% 3.78% -2.15%
Cash From Operating Activities $1.228B $1.221B $793.5M
YoY Change 12.05% 53.82% 35.59%
INVESTING ACTIVITIES
Capital Expenditures -$196.8M $243.1M $134.5M
YoY Change -19.15% 80.74% -26.38%
Acquisitions
YoY Change
Other Investing Activities $136.0M -$9.900M -$800.0K
YoY Change -136.29% 1137.5% 700.0%
Cash From Investing Activities -$60.80M -$314.2M -$133.7M
YoY Change -90.16% 135.0% 104.12%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -775.1M -697.4M -308.9M
YoY Change 99.67% 125.77% -146.28%
NET CHANGE
Cash From Operating Activities 1.228B 1.221B 793.5M
Cash From Investing Activities -60.80M -314.2M -133.7M
Cash From Financing Activities -775.1M -697.4M -308.9M
Net Change In Cash 391.7M 189.4M 336.6M
YoY Change 339.13% -43.73% -71.55%
FREE CASH FLOW
Cash From Operating Activities $1.228B $1.221B $793.5M
Capital Expenditures -$196.8M $243.1M $134.5M
Free Cash Flow $1.424B $977.5M $659.0M
YoY Change 6.38% 48.33% 63.73%

Facts In Submission

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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 September 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 September 30, 2021 and the results of operations, comprehensive income, cash flows and changes in equity for the three and nine months ended September 30, 2021 and 2020. The results of operations for the nine months ended September 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 September 30, 2021, the Company‘s production facilities in Mexico and Peru were working at approximately 96% 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 September 30, 2021, approximately 96% of the workforce in Mexico and 71% of the workforce in Peru was working on site or at home under strict safety measures; the remaining labor force 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 fully restored exploration activities at all of its locations, except in Argentina where the Company is developing social and environmental programs for local communities. </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 September 30, 2021, the strong global economic recovery has generated significant challenges for the global shipping industry, which have led to congestion at ports, shortage of containers and a lack of space on ships. This situation has caused the Company to experience some delays in the reception of imported materials as well as in the shipment of its products and receivable collections. This, however, has had no material impact on the financial position of the Company.</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 10 - Commitments and Contingencies). The Company has no major debt maturity scheduled until November 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 September 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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scco Inventory Ore Stockpiles On Leach Pads Capitalized Costs
InventoryOreStockpilesOnLeachPadsCapitalizedCosts
184200000
scco Inventory Ore Stockpiles On Leach Pads Capitalized Costs
InventoryOreStockpilesOnLeachPadsCapitalizedCosts
144000000.0
scco Inventory Ore Stockpiles On Leach Pads Recognized As Cost Of Sales
InventoryOreStockpilesOnLeachPadsRecognizedAsCostOfSales
205700000
scco Inventory Ore Stockpiles On Leach Pads Recognized As Cost Of Sales
InventoryOreStockpilesOnLeachPadsRecognizedAsCostOfSales
287300000
us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
1387000000.0
us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
694700000
scco Mining Royalty Tax Peru
MiningRoyaltyTaxPeru
70100000
scco Mining Royalty Tax Peru
MiningRoyaltyTaxPeru
14100000
scco Mining Royalty Tax Mexico
MiningRoyaltyTaxMexico
162500000
scco Mining Royalty Tax Mexico
MiningRoyaltyTaxMexico
44100000
scco Special Mining Tax
SpecialMiningTax
84200000
scco Special Mining Tax
SpecialMiningTax
31800000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1703800000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
784700000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.400
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.444
us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
1400000
us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
3400000
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
1400000
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
1400000
scco Number Of Derivative Contracts Entered
NumberOfDerivativeContractsEntered
2
CY2020Q4 us-gaap Derivative Number Of Instruments Held
DerivativeNumberOfInstrumentsHeld
0
us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
false
us-gaap Lessee Operating Lease Existence Of Option To Terminate
LesseeOperatingLeaseExistenceOfOptionToTerminate
false
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0374
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
86000000.0
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
86700000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
28600000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
113700000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
112400000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
104700000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
103700000
CY2021Q3 scco Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
723000000.0
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1186100000
CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
259500000
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
926600000
scco Percentage Of Guarantee For Pledged Office Complex
PercentageOfGuaranteeForPledgedOfficeComplex
0.50
scco Percentage Of Security For Stand By Letter Of Credit
PercentageOfSecurityForStandByLetterOfCredit
0.50
scco Maximum Percentage Of Annual Guarantees Secured
MaximumPercentageOfAnnualGuaranteesSecured
0.50
CY2021Q3 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
56500000
CY2020Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
545000000.0
CY2019Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
262300000
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
3700000
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
1000000.0
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
18300000
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
11100000
CY2021Q3 us-gaap Asset Retirement Obligation
AssetRetirementObligation
559600000
CY2020Q3 us-gaap Asset Retirement Obligation
AssetRetirementObligation
272400000
scco Defined Benefit Plan Number Of Expatriate Noncontributory Plans
DefinedBenefitPlanNumberOfExpatriateNoncontributoryPlans
2
us-gaap Environmental Costs Recognized Capitalized In Period
EnvironmentalCostsRecognizedCapitalizedInPeriod
60600000
us-gaap Environmental Costs Recognized Capitalized In Period
EnvironmentalCostsRecognizedCapitalizedInPeriod
24600000
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
369400000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
8110400000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5634200000
CY2021Q3 us-gaap Treasury Stock Value
TreasuryStockValue
3080800000
CY2020Q3 us-gaap Treasury Stock Value
TreasuryStockValue
3048000000.0
CY2008Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
500000000
CY2021Q3 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
3000000000
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
119500000
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
2900000000
CY2021Q3 scco Stock Repurchase Program Repurchase Price
StockRepurchaseProgramRepurchasePrice
56.14
CY2021Q3 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
1500000
CY2021Q3 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
10600000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
4900000
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
4400000
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
2800000
CY2021Q3 us-gaap Minority Interest
MinorityInterest
57400000
CY2020Q3 us-gaap Minority Interest
MinorityInterest
50000000.0
CY2021Q3 us-gaap Long Term Debt
LongTermDebt
6546700000
CY2021Q3 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
8503000000.0
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
6544200000
CY2020Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
9077800000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
92900000
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2680900000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
8110400000
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2129100000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5634200000
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2680900000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
8110400000
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2129100000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5634200000
CY2021Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
1493400000
CY2021Q3 us-gaap Due From Related Parties Current
DueFromRelatedPartiesCurrent
34600000
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 September 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
CY2021Q3 us-gaap Cost Of Revenue
CostOfRevenue
927500000
CY2021Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
31300000
CY2021Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
203400000
CY2021Q3 us-gaap Exploration Expense
ExplorationExpense
10900000
CY2021Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
1507800000
CY2021Q3 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-87400000
CY2021Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1900000
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
548600000
CY2021Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1300000
CY2021Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
3600000
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
867600000
CY2021Q3 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
243100000
CY2021Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9476100000
CY2021Q3 us-gaap Assets
Assets
18110300000
us-gaap Cost Of Revenue
CostOfRevenue
2856800000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
599400000
us-gaap Exploration Expense
ExplorationExpense
26700000
us-gaap Operating Income Loss
OperatingIncomeLoss
4534600000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
10600000
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-262600000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-7800000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1703800000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
14400000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
2564200000
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
695500000
CY2021Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9476100000
CY2021Q3 us-gaap Assets
Assets
18110300000
CY2020Q3 us-gaap Cost Of Revenue
CostOfRevenue
948900000
CY2020Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
33400000
CY2020Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
196000000.0
CY2020Q3 us-gaap Exploration Expense
ExplorationExpense
6900000
CY2020Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
943900000
CY2020Q3 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-86400000
CY2020Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-14000000.0
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
338500000
CY2020Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
3100000
CY2020Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2100000
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
506000000.0
CY2020Q3 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
134500000
CY2020Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9144700000
CY2020Q3 us-gaap Assets
Assets
16248400000
us-gaap Cost Of Revenue
CostOfRevenue
2881300000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
94000000.0
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
582800000
us-gaap Exploration Expense
ExplorationExpense
21800000
us-gaap Operating Income Loss
OperatingIncomeLoss
2054300000
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-263000000.0
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-22400000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
784700000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1000000.0
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
4900000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
980300000
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
348800000
CY2020Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9144700000
CY2020Q3 us-gaap Assets
Assets
16248400000

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