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Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
8th grade Avg
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Exhibit 12.1
SOUTHERN COPPER CORPORATION
COMPUTATION OF FINANCIAL RATIOS
(In millions except ratios)
EARNINGS TO FIXED |
| 2014 |
| 2013 |
| 2012 |
| 2011 |
| 2010 |
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Earnings: |
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| |||||
Earnings before tax |
| $ | 2,068.7 |
| $ | 2,372.6 |
| $ | 2,973.5 |
| $ | 3,448.7 |
| $ | 2,430.8 |
|
Equity earnings from affiliate |
| 23.8 |
| 20.9 |
| 48.7 |
| — |
| — |
| |||||
Capitalized interest |
| (126.7 | ) | (68.9 | ) | (29.4 | ) | (5.9 | ) | (7.4 | ) | |||||
Total earnings |
| 1,965.8 |
| 2,324.6 |
| 2,992.8 |
| 3,442.8 |
| 2,423.4 |
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Fixed charges: |
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Interest expense |
| 265.3 |
| 265.6 |
| 201.8 |
| 192.3 |
| 167.9 |
| |||||
(Gain) loss on debt prepayment |
| — |
| — |
| — |
| 1.4 |
| — |
| |||||
Total fixed charges |
| 265.3 |
| 265.6 |
| 201.8 |
| 193.7 |
| 167.9 |
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Earning plus fixed charges |
| $ | 2,231.1 |
| $ | 2,590.1 |
| $ | 3,194.6 |
| $ | 3,636.5 |
| $ | 2,591.3 |
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Earnings to fixed charges |
| 8.4 |
| 9.8 |
| 15.8 |
| 18.8 |
| 15.4 |
|
NET DEBT TO NET |
| 2014 |
| 2013 |
| 2012 |
| 2011 |
| 2010 |
| |||||
Total debt |
| $ | 4,206.0 |
| $ | 4,204.9 |
| $ | 4,213.9 |
| $ | 2,745.7 |
| $ | 2,760.4 |
|
Cash and cash equivalents balance |
| (364.0 | ) | (1,672.7 | ) | (2,459.5 | ) | (848.1 | ) | (2,192.7 | ) | |||||
Net debt |
| 3,842.0 |
| 2,532.2 |
| 1,754.4 |
| 1,897.6 |
| 567.7 |
| |||||
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Net capitalization |
|
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| |||||
Net debt |
| 3,842.0 |
| 2,532.2 |
| 1,754.4 |
| 1,897.6 |
| 567.7 |
| |||||
Equity |
| 5,836.6 |
| 5,561.8 |
| 4,789.1 |
| 4,036.3 |
| 3,910.4 |
| |||||
Net capitalization |
| $ | 9,678.6 |
| $ | 8,094.0 |
| $ | 6,543.5 |
| $ | 5,933.9 |
| $ | 4,478.1 |
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Net debt/net capitalization (*) |
| 39.7 | % | 31.3 | % | 26.8 | % | 32.0 | % | 12.7 | % |
(*) Represents net debt divided by net capitalization