$SCCO
SOUTHERN COPPER CORP/

2022 Q3 Form 10-Q Financial Statement

#000155837022011154 Filed on July 27, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2021 Q4
Revenue $2.157B $2.307B $2.824B
YoY Change -19.55% -20.37% 20.12%
Cost Of Revenue $1.138B $1.247B $1.015B
YoY Change 22.68% 26.5% 0.35%
Gross Profit $1.019B $1.060B $1.808B
YoY Change -41.88% -44.54% 35.07%
Gross Profit Margin 47.24% 45.96% 64.04%
Selling, General & Admin $30.20M $30.90M $54.70M
YoY Change -3.51% -1.59% -9.29%
% of Gross Profit 2.96% 2.91% 3.02%
Research & Development $9.600M $11.70M $16.60M
YoY Change -11.93% 24.47% 55.14%
% of Gross Profit 0.94% 1.1% 0.92%
Depreciation & Amortization $192.0M $209.0M $206.6M
YoY Change -5.6% 6.96% 7.16%
% of Gross Profit 18.84% 19.71% 11.42%
Operating Expenses $30.20M $30.90M $277.9M
YoY Change -3.51% -1.59% 5.34%
Operating Profit $787.2M $808.5M $1.531B
YoY Change -47.79% -51.74% 42.36%
Interest Expense -$76.40M -$80.90M -$87.30M
YoY Change -12.59% -8.07% 3.44%
% of Operating Profit -9.71% -10.01% -5.7%
Other Income/Expense, Net $38.70M $3.900M -$10.60M
YoY Change -2136.84% -147.56% 107.84%
Pretax Income $749.5M $731.5M $1.433B
YoY Change -47.16% -53.67% 46.65%
Income Tax $228.5M $296.4M $595.4M
% Of Pretax Income 30.49% 40.52% 41.56%
Net Earnings $520.9M $434.2M $832.9M
YoY Change -40.21% -53.63% 41.15%
Net Earnings / Revenue 24.15% 18.82% 29.5%
Basic Earnings Per Share $0.67 $0.56
Diluted Earnings Per Share $0.67 $0.56 $1.077M
COMMON SHARES
Basic Shares Outstanding 773.1M 773.1M 773.1M
Diluted Shares Outstanding 773.1M 773.1M

Balance Sheet

Concept 2022 Q3 2022 Q2 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.185B $2.113B $3.002B
YoY Change -15.45% -11.75% 37.46%
Cash & Equivalents $2.185B $2.113B $3.002B
Short-Term Investments $300.0K $300.0K $400.0K
Other Short-Term Assets $24.90M $18.60M $33.50M
YoY Change -53.8% -58.3% 14.73%
Inventory $1.053B $1.072B $972.9M
Prepaid Expenses
Receivables $1.066B $1.065B $1.359B
Other Receivables $88.90M $81.80M $87.90M
Total Short-Term Assets $4.959B $4.969B $6.140B
YoY Change -15.81% -9.85% 27.5%
LONG-TERM ASSETS
Property, Plant & Equipment $9.555B $9.522B $9.464B
YoY Change 0.83% 0.69% 0.06%
Goodwill $41.90M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments $115.7M $115.8M $115.4M
YoY Change -3.98% -6.16% 0.96%
Other Assets $126.0M $124.3M $110.0M
YoY Change 26.63% 18.27% 35.3%
Total Long-Term Assets $12.12B $12.15B $12.16B
YoY Change -0.78% -0.26% 0.22%
TOTAL ASSETS
Total Short-Term Assets $4.959B $4.969B $6.140B
Total Long-Term Assets $12.12B $12.15B $12.16B
Total Assets $17.08B $17.12B $18.30B
YoY Change -5.67% -3.24% 7.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $662.6M $671.5M $591.9M
YoY Change 8.41% 19.74% -0.45%
Accrued Expenses $427.5M $371.0M $525.8M
YoY Change -18.26% -13.82% 17.1%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $300.0M $299.9M $299.7M
YoY Change
Total Short-Term Liabilities $1.485B $1.508B $2.250B
YoY Change -17.01% 3.88% 62.48%
LONG-TERM LIABILITIES
Long-Term Debt $6.250B $6.250B $6.248B
YoY Change -4.53% -4.53% -4.53%
Other Long-Term Liabilities $98.90M $78.80M $68.30M
YoY Change 11.0% -38.58% -46.93%
Total Long-Term Liabilities $7.970B $7.926B $7.840B
YoY Change -2.42% -4.16% -5.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.485B $1.508B $2.250B
Total Long-Term Liabilities $7.970B $7.926B $7.840B
Total Liabilities $9.455B $9.435B $10.09B
YoY Change -5.04% -2.96% 4.34%
SHAREHOLDERS EQUITY
Retained Earnings $7.187B $7.247B $7.770B
YoY Change -6.79% -3.86% 13.49%
Common Stock $3.487B $3.482B $3.463B
YoY Change 0.51% 0.51% 0.37%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.096B $3.092B $3.074B
YoY Change 0.5% 0.51% 0.34%
Treasury Stock Shares
Shareholders Equity $7.567B $7.627B $8.149B
YoY Change
Total Liabilities & Shareholders Equity $17.08B $17.12B $18.30B
YoY Change -5.67% -3.24% 7.97%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2021 Q4
OPERATING ACTIVITIES
Net Income $520.9M $434.2M $832.9M
YoY Change -40.21% -53.63% 41.15%
Depreciation, Depletion And Amortization $192.0M $209.0M $206.6M
YoY Change -5.6% 6.96% 7.16%
Cash From Operating Activities $590.1M $309.9M $1.228B
YoY Change -51.65% -70.81% 12.05%
INVESTING ACTIVITIES
Capital Expenditures $227.9M $224.6M -$196.8M
YoY Change -6.25% 2.18% -19.15%
Acquisitions
YoY Change
Other Investing Activities $242.4M -$100.0K $136.0M
YoY Change -2548.48% -100.96% -136.29%
Cash From Investing Activities $14.40M -$60.60M -$60.80M
YoY Change -104.58% -83.17% -90.16%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -580.1M -968.4M -775.1M
YoY Change -16.82% 78.51% 99.67%
NET CHANGE
Cash From Operating Activities 590.1M 309.9M 1.228B
Cash From Investing Activities 14.40M -60.60M -60.80M
Cash From Financing Activities -580.1M -968.4M -775.1M
Net Change In Cash 71.40M -734.1M 391.7M
YoY Change -62.3% -678.03% 339.13%
FREE CASH FLOW
Cash From Operating Activities $590.1M $309.9M $1.228B
Capital Expenditures $227.9M $224.6M -$196.8M
Free Cash Flow $362.2M $85.30M $1.424B
YoY Change -62.95% -89.87% 6.38%

Facts In Submission

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dei Security12b Title
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SCCO
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:36pt;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, 2022, 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, 2022 and the results of operations, comprehensive income, cash flows and changes in equity for the three months ended June 30, 2022 and 2021. The results of operations for the three months ended June 30, 2022 are not necessarily indicative of the results to be expected for the full year. The December 31, 2021 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, 2021 and notes included in the Company’s 2021 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-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">CUAJONE STOPPAGE OF OPERATIONS</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;">On February 28, 2022 a small group of protesters from the community of Tumilaca, Pocata, Coscore and Tala, which have 472 residents in total, seized the facilities at the Viña Blanca water reservoir and cut off the water supply to the homes of the approximately 5,000 people who live in Cuajone. Prior to this illegal action, on February 18, 2022, the railway between Cuajone and Ilo was also blocked by a group of community members. They claim the Company usurped their land and demand compensation of $5.0 billion, in addition to the permanent payment of 5% of net profits.</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;">After several unsuccessful attempts by the authorities to restore order through dialogue, on April 20, 2022, the Peruvian government declared a state of emergency in the Moquegua region. On April 21, 2022, the protesters returned the installations of the Viña Blanca water reservoir and the railway to the Company. The Company’s personnel immediately evaluated the damage caused to the facilities by acts of vandalism and took the necessary steps to resume production at the Cuajone mining unit. On April 25, 2022, the Cuajone mine, concentrator, industrial railroad and related facilities reached full capacity. Based on the 2022 Company operating plan, the total production loss during the stoppage period was 22,208 tonnes of copper content and 485 tonnes of molybdenum, which translates into a reduction in sales of $228 million. The Company also recorded $14.0 million of unabsorbed fixed costs, which directly impacted the cost of sales. To mitigate the impact on sales’ contracts, measures were taken to acquire concentrates from our Mexican Operations and third parties to maintain and adequate supply to the smelter. Despite the force majeure event at Cuajone, the Company was able to fulfill all sales’commitments without delays. </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;">On April 30, 2022, the Peruvian government issued a Ministerial Resolution to set up a three-party-dialogue-table with members of the community, government and Company officials to better understand all parties’ concerns. As of today, nine round-table meetings and three direct meeting with the community have been held. The Company has proposed plans to invest in social programs that address the needs voiced by the communities and has indicated interest in purchasing land near the Cuajone operations to establish a buffer zone to protect installations and production down the line. </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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313900000
CY2022Q2 us-gaap Inventory Net
InventoryNet
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CY2021Q4 us-gaap Inventory Net
InventoryNet
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CY2022Q2 us-gaap Inventory Ore Stockpiles On Leach Pads
InventoryOreStockpilesOnLeachPads
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CY2021Q4 us-gaap Inventory Ore Stockpiles On Leach Pads
InventoryOreStockpilesOnLeachPads
1097600000
scco Inventory Ore Stockpiles On Leach Pads Capitalized Costs
InventoryOreStockpilesOnLeachPadsCapitalizedCosts
129200000
us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
752900000
us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
956400000
scco Mining Royalty Tax Peru
MiningRoyaltyTaxPeru
26500000
scco Mining Royalty Tax Peru
MiningRoyaltyTaxPeru
38900000
scco Mining Royalty Tax Mexico
MiningRoyaltyTaxMexico
87400000
scco Mining Royalty Tax Mexico
MiningRoyaltyTaxMexico
107900000
scco Special Mining Tax
SpecialMiningTax
41700000
scco Special Mining Tax
SpecialMiningTax
52000000.0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
908500000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1155200000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.426
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.406
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1113600000
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229900000
us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
1400000
us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
1000000.0
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
900000
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
900000
scco Number Of Derivative Contracts Entered
NumberOfDerivativeContractsEntered
2
CY2022Q2 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
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0377
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
57800000
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
57400000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
57700000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
114400000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
106500000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
105400000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
105200000
CY2022Q2 scco Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
624400000
CY2019Q2 scco Maximum Percentage Of Annual Guarantees Secured
MaximumPercentageOfAnnualGuaranteesSecured
0.50
scco Defined Benefit Plan Number Of Expatriate Noncontributory Plans
DefinedBenefitPlanNumberOfExpatriateNoncontributoryPlans
2
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-164100000
scco Percentage Of Guarantee For Pledged Office Complex
PercentageOfGuaranteeForPledgedOfficeComplex
0.50
scco Percentage Of Security For Stand By Letter Of Credit
PercentageOfSecurityForStandByLetterOfCredit
0.50
CY2022Q1 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
66300000
CY2019 us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
28100000
CY2021Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
562900000
CY2020Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
545000000.0
us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
43300000
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
3600000
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
1900000
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
13000000.0
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
12200000
CY2022Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
615600000
CY2021Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
555300000
us-gaap Environmental Costs Recognized Capitalized In Period
EnvironmentalCostsRecognizedCapitalizedInPeriod
30100000
us-gaap Environmental Costs Recognized Capitalized In Period
EnvironmentalCostsRecognizedCapitalizedInPeriod
22500000
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
437000000.0
CY2022Q2 us-gaap Treasury Stock Value
TreasuryStockValue
3091500000
CY2021Q2 us-gaap Treasury Stock Value
TreasuryStockValue
3075800000
CY2008Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
500000000
CY2022Q2 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
CY2022Q2 scco Stock Repurchase Program Repurchase Price
StockRepurchaseProgramRepurchasePrice
49.81
CY2022Q2 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
1600000
CY2022Q2 scco Percentage Of Ownership By Parent
PercentageOfOwnershipByParent
0.889
CY2021Q4 us-gaap Minority Interest
MinorityInterest
58600000
CY2020Q4 us-gaap Minority Interest
MinorityInterest
51200000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
5000000.0
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
7000000.0
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
3800000
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
2900000
CY2022Q2 us-gaap Minority Interest
MinorityInterest
59800000
CY2021Q2 us-gaap Minority Interest
MinorityInterest
55300000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
15700000
CY2022Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
209000000.0
CY2022Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
1064600000
CY2022Q2 us-gaap Due From Related Parties Current
DueFromRelatedPartiesCurrent
45900000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
6549400000
CY2022Q2 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
6811600000
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
6547600000
CY2021Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
8573200000
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2306900000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5070700000
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
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2306900000
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
5070700000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5429500000
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2306900000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5070700000
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
CY2021Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
1358700000
CY2021Q4 us-gaap Due From Related Parties Current
DueFromRelatedPartiesCurrent
49100000
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, 2022, the Company has long-term contracts with promises to deliver the following products in 2022:</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:81.37%;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:4.22%;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:14.39%;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="vertical-align:bottom;width:81.37%;background:#cceeff;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="vertical-align:bottom;white-space:nowrap;width:4.22%;background:#cceeff;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:14.39%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 118,000</p></td></tr><tr><td style="vertical-align:bottom;width:81.37%;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:4.22%;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:14.39%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 48,000</p></td></tr><tr><td style="vertical-align:bottom;width:81.37%;background:#cceeff;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="vertical-align:bottom;white-space:nowrap;width:4.22%;background:#cceeff;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:14.39%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 37,283</p></td></tr><tr><td style="vertical-align:bottom;width:81.37%;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:4.22%;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:14.39%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 355,773</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 Cost Of Revenue
CostOfRevenue
2304400000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
61200000
CY2022Q2 us-gaap Cost Of Revenue
CostOfRevenue
1246700000
CY2022Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
30900000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
405600000
us-gaap Exploration Expense
ExplorationExpense
20900000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1155200000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
13100000
CY2022Q2 us-gaap Exploration Expense
ExplorationExpense
11800000
CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
808500000
CY2022Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-80900000
CY2022Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
3900000
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
296400000
CY2022Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-900000
CY2022Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1900000
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
432300000
CY2022Q2 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
224600000
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9521800000
CY2022Q2 us-gaap Assets
Assets
17121500000
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
9500000
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 Income Tax Expense Benefit
IncomeTaxExpenseBenefit
908500000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
400000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
5000000.0
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1217100000
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
429700000
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9521800000
CY2022Q2 us-gaap Assets
Assets
17121500000
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
OtherNonoperatingIncomeExpense
-5900000
CY2021Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9456100000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
7000000.0
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1696600000
CY2021Q2 us-gaap Assets
Assets
17695400000

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