EX-12.1 2 a08-2675_1ex12d1.htm EX-12.1

 

Exhibit 12.1

 

SOUTHERN COPPER CORPORATION

 

COMPUTATION OF FINANCIAL RATIOS

 

(In millions except ratios)

 

EARNINGS TO FIXED CHARGES

 

2007

 

2006

 

2005

 

2004

 

2003

 

Earnings before tax, minority interest and cumulative effect of change in accounting principle

 

$

3,411.9

 

$

3,006.0

 

$

2,002.4

 

$

1,420.9

 

$

209.5

 

Fixed charges

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

123.2

 

113.4

 

108.9

 

106.5

 

117.0

 

(Gain) loss on debt prepayment

 

16.6

 

1.1

 

10.6

 

16.5

 

5.8

 

Total fixed charges

 

139.8

 

114.5

 

119.5

 

123.0

 

122.8

 

 

 

 

 

 

 

 

 

 

 

 

 

Earning plus fixed charges

 

$

3,551.7

 

$

3,120.5

 

$

2,121.9

 

$

1,543.9

 

$

332.3

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings to fixed charges

 

25.4

 

27.2

 

17.8

 

12.6

 

2.7

 

 

 

 

 

2007

 

2006

 

2005

 

2004

 

2003

 

Total debt

 

$

1,449.8

 

$

1,528.1

 

$

1,172.1

 

$

1,330.3

 

$

1,671.2

 

Cash and cash equivalent balance

 

(1,409.3

)

(1,022.8

)

(876.0

)

(710.7

)

(351.6

)

Net debt

 

40.5

 

505.3

 

296.1

 

619.6

 

1,319.6

 

 

 

 

 

 

 

 

 

 

 

 

 

Total capitalization

 

 

 

 

 

 

 

 

 

 

 

Net debt

 

40.5

 

505.3

 

296.1

 

619.6

 

1,319.6

 

Stockholders’ equity

 

3,848.1

 

3,666.6

 

3,326.1

 

2,813.6

 

2,022.7

 

Total capitalization

 

$

3,888.6

 

$

4,171.9

 

$

3,622.2

 

$

3,433.2

 

$

3,342.3

 

 

 

 

 

 

 

 

 

 

 

 

 

Net debt/total capitalization (*)

 

1.0

%

12.1

%

8.2

%

18.0

%

39.5

%

 

(*) Represents net debt divided by total capitalization.