Attached files
| file | filename |
|---|---|
| EX-21.1 - EX-21.1 - SOUTHERN COPPER CORP/ | a15-23381_1ex21d1.htm |
| EX-31.2 - EX-31.2 - SOUTHERN COPPER CORP/ | a15-23381_1ex31d2.htm |
| EX-31.1 - EX-31.1 - SOUTHERN COPPER CORP/ | a15-23381_1ex31d1.htm |
| 10-K - 10-K - SOUTHERN COPPER CORP/ | a15-23381_110k.htm |
| EX-32.1 - EX-32.1 - SOUTHERN COPPER CORP/ | a15-23381_1ex32d1.htm |
| EX-32.2 - EX-32.2 - SOUTHERN COPPER CORP/ | a15-23381_1ex32d2.htm |
| EX-23.1 - EX-23.1 - SOUTHERN COPPER CORP/ | a15-23381_1ex23d1.htm |
Exhibit 12.1
SOUTHERN COPPER CORPORATION
COMPUTATION OF FINANCIAL RATIOS
(In millions except ratios)
|
EARNINGS TO FIXED CHARGES |
|
2015 |
|
2014 |
|
2013 |
|
2012 |
|
2011 |
| |||||
|
Earnings: |
|
|
|
|
|
|
|
|
|
|
| |||||
|
Earnings before tax |
|
$ |
1,189.3 |
|
$ |
2,068.7 |
|
$ |
2,372.6 |
|
$ |
2,973.5 |
|
$ |
3,448.7 |
|
|
Equity earnings from affiliate |
|
16.7 |
|
23.8 |
|
20.9 |
|
48.7 |
|
— |
| |||||
|
Capitalized interest |
|
(123.2 |
) |
(126.7 |
) |
(68.9 |
) |
(29.3 |
) |
(5.9 |
) | |||||
|
Total earnings |
|
1,082.8 |
|
1,965.8 |
|
2,324.6 |
|
2,992.9 |
|
3,442.8 |
| |||||
|
Fixed charges: |
|
|
|
|
|
|
|
|
|
|
| |||||
|
Interest expense |
|
334.0 |
|
265.3 |
|
265.5 |
|
201.8 |
|
192.3 |
| |||||
|
(Gain) loss on debt prepayment |
|
— |
|
— |
|
— |
|
— |
|
1.4 |
| |||||
|
Total fixed charges |
|
334.0 |
|
265.3 |
|
265.5 |
|
201.8 |
|
193.7 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Earning plus fixed charges |
|
$ |
1,416.8 |
|
$ |
2,231.1 |
|
$ |
2,590.1 |
|
$ |
3,194.7 |
|
$ |
3,636.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Earnings to fixed charges |
|
4.2 |
|
8.4 |
|
9.8 |
|
15.8 |
|
18.8 |
| |||||
|
NET DEBT TO NET |
|
2015 |
|
2014 |
|
2013 |
|
2012 |
|
2011 |
| |||||
|
Total debt |
|
$ |
5,951.5 |
|
$ |
4,180.9 |
|
$ |
4,178.9 |
|
$ |
4,188.0 |
|
$ |
2,726.9 |
|
|
Cash and cash equivalents |
|
(274.5 |
) |
(364.0 |
) |
(1,672.7 |
) |
(2,459.5 |
) |
(848.1 |
) | |||||
|
Short-term investments |
|
(603.5 |
) |
(338.6 |
) |
(208.3 |
) |
(134.3 |
) |
(522.0 |
) | |||||
|
Net debt |
|
5,073.5 |
|
3,478.3 |
|
2,297.9 |
|
1,594.2 |
|
1,356.8 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Net capitalization |
|
|
|
|
|
|
|
|
|
|
| |||||
|
Net debt |
|
5,073.5 |
|
3,478.3 |
|
2,297.9 |
|
1,594.2 |
|
1,356.8 |
| |||||
|
Equity |
|
5,299.2 |
|
5,836.6 |
|
5,561.8 |
|
4,789.1 |
|
4,036.3 |
| |||||
|
Net capitalization |
|
$ |
10,976.2 |
|
$ |
9,653.5 |
|
$ |
8,068.0 |
|
$ |
6,517.6 |
|
$ |
5,915.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Net debt/net capitalization (*) |
|
48.9 |
% |
37.3 |
% |
29.2 |
% |
25.0 |
% |
25.2 |
% | |||||
(*) Represents net debt divided by net capitalization