$SCCO

SOUTHERN PERU COPPER CORP/

CIK:0001001838|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
Net sales (including sales to related parties, see note 5)	$ 4,289.0	$ 3,051.0	$ 8,540.4	$ 6,172.9
Operating cost and expenses:
Cost of sales (exclusive of depreciation, amortization and depletion shown separately below)	1,389.5	1,211.7	2,888.3	2,530.9
Selling, general and administrative	35.3	32.5	71.1	64.1
Depreciation, amortization and depletion	226.0	206.2	451.7	430.0
Exploration	14.9	13.7	25.7	25.4
Total operating costs and expenses	1,665.8	1,464.0	3,436.8	3,050.4
Operating income	2,623.2	1,587.0	5,103.6	3,122.5
Interest expense	(105.6)	(105.6)	(210.1)	(207.9)
Capitalized interest	17.6	11.6	32.2	22.0
Interest income	57.5	53.1	104.3	101.8
Other income (expense)	6.8	(2.3)	13.6	(16.0)
Income before income taxes	2,599.4	1,543.9	5,043.5	3,022.4
Income taxes (including royalty taxes, see Note 4)	945.3	576.0	1,836.3	1,108.7
Net income before equity earnings of affiliate	1,654.1	967.9	3,207.2	1,913.7
Equity earnings of affiliate, net of income tax	20.5	8.8	49.2	12.1
Net income	1,674.6	976.7	3,256.5	1,925.8
Less: Net income attributable to the non-controlling interest	4.6	3.2	9.6	6.4
Net income attributable to SCC	$ 1,670.0	$ 973.4	$ 3,246.8	$ 1,919.4
Per common share amounts attributable to SCC:
Net earnings-basic	$ 2.01	$ 1.17	$ 3.93	$ 2.33
Net earnings-diluted	$ 2.01	$ 1.17	$ 3.93	$ 2.33
Weighted average shares outstanding-basic	829.1	829.1	825.4	825.4
Weighted average shares outstanding-diluted	829.1	829.1	825.4	825.4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
OPERATING ACTIVITIES
Net income	$ 1,674.6	$ 976.7	$ 3,256.5	$ 1,925.8
Adjustments to reconcile net earnings to net cash provided from operating activities:
Depreciation, amortization and depletion	226.0	206.2	451.7	430.0
Equity earnings of affiliate, net of dividends received	(10.2)	(5.8)	(26.4)	(8.9)
Loss on foreign currency transaction effect	27.4	3.8	9.8	17.8
Provision (benefit) for deferred income taxes	16.2	25.0	(18.7)	53.2
Other, net	22.6	8.7	34.3	23.1
Change in operating assets and liabilities:
Decrease (increase) in trade accounts receivable	20.6	(9.6)	(44.5)	(368.1)
(Increase) decrease in inventories	(50.6)	(45.1)	46.8	40.2
Increase (decrease) in accounts payable and accrued liabilities	107.7	(121.2)	(2.2)	(394.9)
Increase in other operating assets and liabilities	(45.8)	(61.9)	(24.3)	(19.9)
Net cash provided by operating activities	1,988.5	976.8	3,683.0	1,698.2
INVESTING ACTIVITIES
Capital expenditures	(422.8)	(235.7)	(864.7)	(553.5)
Proceeds from (purchase) sale of short-term investments, net	(1,230.8)	(457.3)	(1,060.3)	(430.1)
Net cash used in investing activities	(1,653.6)	(692.9)	(1,925.0)	(983.6)
FINANCING ACTIVITIES
Repayments of debt		(500.0)		(500.0)
Proceeds from issuance of debt	1,247.5		1,247.5	993.8
Payments of debt issuance costs	(3.9)		(3.9)	(6.4)
Cash dividends paid to common stockholders	(826.2)	(557.4)	(1,645.4)	(1,110.7)
Other, net	0.1	(3.0)	0.1	(4.2)
Net cash provided by (used in) financing activities	417.5	(1,060.4)	(401.6)	(627.5)
Effect of exchange rate changes on cash and cash equivalents	(2.7)	(4.9)	3.9	(10.2)
Increase (decrease) in cash and cash equivalents	749.6	(781.4)	1,360.4	76.8
Cash and cash equivalents, at beginning of period	4,915.4	4,116.3	4,304.6	3,258.1
Cash and cash equivalents, at end of period	$ 5,665.0	$ 3,334.9	$ 5,665.0	$ 3,334.9

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 5,665.0	$ 4,304.6
Short-term investments	1,664.9	604.6
Accounts receivable trade	1,995.7	1,951.2
Accounts receivable other (including related parties 2026- $10.9 and 2025 - $16.2)	79.0	71.4
Inventories	1,060.9	1,058.1
Prepaid taxes	304.2	331.2
Other current assets	17.7	31.3
Total current assets	10,787.5	8,352.5
Property and mine development, net	10,662.0	10,272.2
Ore stockpiles on leach pads	1,064.9	1,114.5
Intangible assets, net	121.5	122.4
Right-of-use assets, net	654.2	700.8
Deferred income tax	337.1	336.3
Equity method investment	160.9	134.5
Other non-current assets	339.7	348.2
Total assets	24,127.7	21,381.4
Current liabilities:
Accounts payable (including related parties 2026- $122.5 and 2025- $138.4)	871.9	861.5
Accrued income taxes	704.9	634.4
Accrued workers' participation	279.4	404.6
Accrued interest	116.1	115.0
Lease liabilities current	95.6	86.5
Other accrued liabilities	64.2	43.0
Total current liabilities	2,132.0	2,145.1
Long-term debt	7,994.4	6,750.7
Lease liabilities	534.4	576.3
Deferred income taxes	114.5	130.5
Non-current taxes payable	111.2	97.1
Other liabilities and reserves	41.9	105.7
Asset retirement obligation	490.7	471.1
Total non-current liabilities	9,287.1	8,131.4
Commitments and contingencies (Note 10)
STOCKHOLDERS' EQUITY (NOTE 11)
Common stock par value $0.01; shares authorized, 2026 and 2025-2,000; shares issued, 2026 and 2025-884.6	8.8	8.8
Additional paid-in capital	9,709.0	7,257.9
Retained earnings	4,588.1	5,797.2
Accumulated other comprehensive income	8.3	8.3
Treasury stock, at cost, common shares	(1,682.1)	(2,034.2)
Total Southern Copper Corporation stockholders' equity	12,632.2	11,038.1
Non-controlling interest	76.4	66.8
Total equity	12,708.6	11,104.9
Total liabilities and equity	$ 24,127.7	$ 21,381.4