$SCCO
SOUTHERN COPPER CORP/

2024 Q2 Form 10-Q Financial Statement

#000155837024006251 Filed on April 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $3.118B $2.600B
YoY Change 35.54% -6.95%
Cost Of Revenue $1.249B $1.129B
YoY Change 11.65% -5.45%
Gross Profit $1.869B $1.471B
YoY Change 58.14% -8.06%
Gross Profit Margin 59.95% 56.57%
Selling, General & Admin $33.90M $59.30M
YoY Change -43.59% 95.07%
% of Gross Profit 1.81% 4.03%
Research & Development $18.50M $12.70M
YoY Change 52.89% 6.72%
% of Gross Profit 0.99% 0.86%
Depreciation & Amortization $209.6M $209.0M
YoY Change 0.19% 2.6%
% of Gross Profit 11.21% 14.21%
Operating Expenses $33.90M $281.0M
YoY Change -87.95% 824.34%
Operating Profit $1.607B $1.190B
YoY Change 78.45% -12.11%
Interest Expense -$56.80M -$53.20M
YoY Change -2.74% -13.36%
% of Operating Profit -3.53% -4.47%
Other Income/Expense, Net -$19.90M $19.00M
YoY Change -455.36% 80.95%
Pretax Income $1.531B $1.156B
YoY Change 80.52% -11.31%
Income Tax $578.8M $423.4M
% Of Pretax Income 37.82% 36.64%
Net Earnings $953.8M $736.0M
YoY Change 74.21% -9.79%
Net Earnings / Revenue 30.59% 28.31%
Basic Earnings Per Share $1.22 $0.95
Diluted Earnings Per Share $1.22 $0.95
COMMON SHARES
Basic Shares Outstanding 773.1M 773.1M
Diluted Shares Outstanding 777.9M 773.1M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.876B $1.582B
YoY Change -14.72% -31.24%
Cash & Equivalents $1.875B $1.252B
Short-Term Investments $200.0K $329.3M
Other Short-Term Assets $26.70M $449.9M
YoY Change -93.76% 704.83%
Inventory $1.017B $1.014B
Prepaid Expenses
Receivables $1.622B $1.294B
Other Receivables $16.90M $101.1M
Total Short-Term Assets $5.334B $4.441B
YoY Change 11.83% -14.56%
LONG-TERM ASSETS
Property, Plant & Equipment $9.872B $10.54B
YoY Change -6.0% 9.64%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $114.5M $113.9M
YoY Change 14.27% 9.62%
Other Assets $169.9M $1.566B
YoY Change -88.17% 1290.32%
Total Long-Term Assets $12.44B $12.35B
YoY Change 2.25% 1.84%
TOTAL ASSETS
Total Short-Term Assets $5.334B $4.441B
Total Long-Term Assets $12.44B $12.35B
Total Assets $17.78B $16.79B
YoY Change 4.95% -3.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $647.2M $664.1M
YoY Change 34.72% 0.23%
Accrued Expenses $386.7M $449.2M
YoY Change 5.8% -7.17%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $499.5M
YoY Change
Total Short-Term Liabilities $1.898B $1.340B
YoY Change 78.97% 7.43%
LONG-TERM LIABILITIES
Long-Term Debt $5.757B $6.256B
YoY Change -7.93% 0.06%
Other Long-Term Liabilities $35.10M $1.438B
YoY Change -97.62% 2055.92%
Total Long-Term Liabilities $7.319B $7.694B
YoY Change -5.25% -2.46%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.898B $1.340B
Total Long-Term Liabilities $7.319B $7.694B
Total Liabilities $9.218B $9.248B
YoY Change 1.96% 1.23%
SHAREHOLDERS EQUITY
Retained Earnings $7.181B $7.157B
YoY Change -4.47% -7.56%
Common Stock $4.266B $3.550B
YoY Change 21.06% 1.25%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.946B $3.157B
YoY Change -5.93% 1.35%
Treasury Stock Shares
Shareholders Equity $8.493B $7.542B
YoY Change
Total Liabilities & Shareholders Equity $17.78B $16.79B
YoY Change 4.95% -3.08%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $953.8M $736.0M
YoY Change 74.21% -9.79%
Depreciation, Depletion And Amortization $209.6M $209.0M
YoY Change 0.19% 2.6%
Cash From Operating Activities $962.1M $659.7M
YoY Change 20.7% -44.34%
INVESTING ACTIVITIES
Capital Expenditures $331.8M $213.8M
YoY Change 31.41% -10.21%
Acquisitions
YoY Change
Other Investing Activities $100.0K $270.0M
YoY Change -99.93% 298.82%
Cash From Investing Activities -$331.7M $56.20M
YoY Change 195.9% -132.98%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 -620.1M
YoY Change -100.0% -19.96%
NET CHANGE
Cash From Operating Activities 962.1M 659.7M
Cash From Investing Activities -331.7M 56.20M
Cash From Financing Activities 0.000 -620.1M
Net Change In Cash 623.1M 95.80M
YoY Change -786.23% -58.37%
FREE CASH FLOW
Cash From Operating Activities $962.1M $659.7M
Capital Expenditures $331.8M $213.8M
Free Cash Flow $630.3M $445.9M
YoY Change 15.74% -52.92%

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CY2023Q1 us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
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CY2024Q1 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
200000
CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2024Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
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CY2023Q1 us-gaap Payments Of Dividends Common Stock
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CY2024Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
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CY2023Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
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CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2024Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4900000
CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-10000000.0
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
100700000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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230100000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2024Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
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CY2023Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1
CY2024Q1 us-gaap Stockholders Equity Other
StockholdersEquityOther
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CY2024Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2024Q1 us-gaap Nature Of Operations
NatureOfOperations
<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 March 31, 2024, 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 March 31, 2024 and the results of operations, comprehensive income, cash flows and changes in equity for the three months ended March 31, 2024 and 2023. The results of operations for the three months ended March 31, 2024 are not necessarily indicative of the results to be expected for the full year. The December 31, 2023 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, 2023 and notes included in the Company’s 2023 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>
CY2024Q1 scco Percentage Of Ownership By Parent
PercentageOfOwnershipByParent
0.889
CY2024Q1 us-gaap Trading Securities
TradingSecurities
329100000
CY2023Q4 us-gaap Trading Securities
TradingSecurities
599100000
CY2024Q1 scco Trading Securities Weighted Average Interest Rate
TradingSecuritiesWeightedAverageInterestRate
0.055
CY2023 scco Trading Securities Weighted Average Interest Rate
TradingSecuritiesWeightedAverageInterestRate
0.057
CY2023Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
200000
CY2024Q1 scco Available For Sale Securities Weighted Average Interest Rate
AvailableForSaleSecuritiesWeightedAverageInterestRate
0.008
CY2023 scco Available For Sale Securities Weighted Average Interest Rate
AvailableForSaleSecuritiesWeightedAverageInterestRate
0.008
CY2024Q1 us-gaap Short Term Investments
ShortTermInvestments
329300000
CY2023Q4 us-gaap Short Term Investments
ShortTermInvestments
599300000
CY2024Q1 scco Inventory Ore Stockpiles On Leach Pads Recognized As Cost Of Sales
InventoryOreStockpilesOnLeachPadsRecognizedAsCostOfSales
53700000
CY2023Q1 scco Inventory Ore Stockpiles On Leach Pads Recognized As Cost Of Sales
InventoryOreStockpilesOnLeachPadsRecognizedAsCostOfSales
72300000
CY2024Q1 us-gaap Interest Income Debt Securities Trading Operating
InterestIncomeDebtSecuritiesTradingOperating
7700000
CY2023Q1 us-gaap Interest Income Debt Securities Trading Operating
InterestIncomeDebtSecuritiesTradingOperating
3700000
CY2024Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
85700000
CY2023Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
68800000
CY2024Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
286900000
CY2023Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
313000000.0
CY2024Q1 scco Inventory Ore Stockpiles On Leach Pads Current
InventoryOreStockpilesOnLeachPadsCurrent
232600000
CY2023Q4 scco Inventory Ore Stockpiles On Leach Pads Current
InventoryOreStockpilesOnLeachPadsCurrent
230900000
CY2024Q1 us-gaap Inventory Supplies Net Of Reserves
InventorySuppliesNetOfReserves
409200000
CY2023Q4 us-gaap Inventory Supplies Net Of Reserves
InventorySuppliesNetOfReserves
404200000
CY2024Q1 us-gaap Inventory Net
InventoryNet
1014400000
CY2023Q4 us-gaap Inventory Net
InventoryNet
1016900000
CY2024Q1 us-gaap Inventory Ore Stockpiles On Leach Pads
InventoryOreStockpilesOnLeachPads
1132500000
CY2023Q4 us-gaap Inventory Ore Stockpiles On Leach Pads
InventoryOreStockpilesOnLeachPads
1121700000
CY2024Q1 scco Inventory Ore Stockpiles On Leach Pads Capitalized Costs
InventoryOreStockpilesOnLeachPadsCapitalizedCosts
66200000
CY2023Q1 scco Inventory Ore Stockpiles On Leach Pads Capitalized Costs
InventoryOreStockpilesOnLeachPadsCapitalizedCosts
75300000
CY2024Q1 us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
363100000
CY2023Q1 us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
399000000.0
CY2024Q1 scco Mining Royalty Tax Peru
MiningRoyaltyTaxPeru
9900000
CY2023Q1 scco Mining Royalty Tax Peru
MiningRoyaltyTaxPeru
9800000
CY2024Q1 scco Mining Royalty Tax Mexico
MiningRoyaltyTaxMexico
30600000
CY2023Q1 scco Mining Royalty Tax Mexico
MiningRoyaltyTaxMexico
51700000
CY2024Q1 scco Special Mining Tax
SpecialMiningTax
19800000
CY2023Q1 scco Special Mining Tax
SpecialMiningTax
20000000.0
CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
423400000
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
480500000
CY2024Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.366
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.369
CY2019Q2 scco Global Minimum Tax Rate
GlobalMinimumTaxRate
0.15
CY2024Q1 us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
false
CY2024Q1 us-gaap Lessee Operating Lease Existence Of Option To Terminate
LesseeOperatingLeaseExistenceOfOptionToTerminate
false
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0392
CY2024Q1 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
28500000
CY2023Q1 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
29100000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
87300000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
105900000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
105600000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
105200000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
104900000
CY2024Q1 scco Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
417200000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
926100000
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
169000000.0
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
757100000
CY2019Q2 scco Maximum Percentage Of Annual Guarantees Secured
MaximumPercentageOfAnnualGuaranteesSecured
0.50
CY2024Q1 scco Percentage Of Guarantee For Pledged Office Complex
PercentageOfGuaranteeForPledgedOfficeComplex
0.50
CY2024Q1 scco Percentage Of Security For Stand By Letter Of Credit
PercentageOfSecurityForStandByLetterOfCredit
0.50
CY2023Q1 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
77100000
CY2022 scco Asset Retirement Obligation Increase Decrease In Asset Due To Revision In Estimate
AssetRetirementObligationIncreaseDecreaseInAssetDueToRevisionInEstimate
-43300000
CY2023Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
612500000
CY2022Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
585300000
CY2024Q1 us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
-2300000
CY2023Q1 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
200000
CY2024Q1 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
7600000
CY2023Q1 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
6400000
CY2024Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
617800000
CY2023Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
591500000
CY2024Q1 scco Defined Benefit Plan Number Of Expatriate Noncontributory Plans
DefinedBenefitPlanNumberOfExpatriateNoncontributoryPlans
2
CY2024Q1 us-gaap Environmental Costs Recognized Capitalized In Period
EnvironmentalCostsRecognizedCapitalizedInPeriod
43700000
CY2023Q1 us-gaap Environmental Costs Recognized Capitalized In Period
EnvironmentalCostsRecognizedCapitalizedInPeriod
25900000
CY2024Q1 scco Percentage Of Net Earnings Contribution
PercentageOfNetEarningsContribution
0.05
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
CY2023Q4 scco Percentage Of Affiliated Workers In Union Renewed Its Representatives
PercentageOfAffiliatedWorkersInUnionRenewedItsRepresentatives
0.247
CY2023Q4 scco Number Of Productive Units
NumberOfProductiveUnits
3
CY2023Q4 scco Percentage Of Workers In Union Are In Process To Elect Its New Representatives
PercentageOfWorkersInUnionAreInProcessToElectItsNewRepresentatives
0.257
CY2024Q1 scco Number Of Labor Unions
NumberOfLaborUnions
6
CY2024Q1 scco Period Of Litigation
PeriodOfLitigation
P12Y
CY2024Q1 scco Commitments For Capital Projects
CommitmentsForCapitalProjects
314700000
CY2024Q1 us-gaap Treasury Stock Value
TreasuryStockValue
3157200000
CY2023Q1 us-gaap Treasury Stock Value
TreasuryStockValue
3115100000
CY2023Q4 us-gaap Minority Interest
MinorityInterest
63100000
CY2022Q4 us-gaap Minority Interest
MinorityInterest
62700000
CY2024Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2800000
CY2023Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2700000
CY2024Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
1700000
CY2023Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
1800000
CY2024Q1 us-gaap Minority Interest
MinorityInterest
64200000
CY2023Q1 us-gaap Minority Interest
MinorityInterest
63600000
CY2024Q1 us-gaap Long Term Debt
LongTermDebt
6255500000
CY2024Q1 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
6374600000
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
6254600000
CY2023Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
6485900000
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2599800000
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2793900000
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2599800000
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2793900000
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2599800000
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2793900000
CY2024Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
1293900000
CY2024Q1 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
23200000
CY2023Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
1141100000
CY2023Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
27300000
CY2024Q1 scco Long Term Contracts Table Text Bloc
LongTermContractsTableTextBloc
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:8pt;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:81.55%;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:14.21%;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:81.55%;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 tonnes)</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:14.21%;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;"> 180,000</p></td></tr><tr><td style="vertical-align:bottom;width:81.55%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Copper cathodes (in tonnes)</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:14.21%;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:81.55%;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 tonnes)</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:14.21%;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;"> 18,970</p></td></tr><tr><td style="vertical-align:bottom;width:81.55%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Sulfuric acid (in tonnes)</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:14.21%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 346,276</p></td></tr></table>
CY2024Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2024Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2024Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2024Q1 us-gaap Cost Of Revenue
CostOfRevenue
1157600000
CY2024Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
30800000
CY2024Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
209000000.0
CY2024Q1 us-gaap Exploration Expense
ExplorationExpense
12700000
CY2024Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
1189700000
CY2024Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-53200000
CY2024Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
19000000.0
CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
423400000
CY2024Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
6700000
CY2024Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2800000
CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
736000000.0
CY2024Q1 us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
213800000
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9783200000
CY2024Q1 us-gaap Assets
Assets
16789300000
CY2023Q1 us-gaap Cost Of Revenue
CostOfRevenue
1194200000
CY2023Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
30400000
CY2023Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
203700000
CY2023Q1 us-gaap Exploration Expense
ExplorationExpense
11900000
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
1353700000
CY2023Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-61400000
CY2023Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
10500000
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
480500000
CY2023Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-6400000
CY2023Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2700000
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
813200000
CY2023Q1 us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
238100000
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9613900000
CY2023Q1 us-gaap Assets
Assets
17323300000

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