EX-12.1 2 a09-1444_1ex12d1.htm EX-12.1

Exhibit 12.1

 

SOUTHERN COPPER CORPORATION

 

COMPUTATION OF FINANCIAL RATIOS

 

(In millions except ratios)

 

EARNINGS TO FIXED CHARGES

 

2008

 

2007

 

2006

 

2005

 

2004

 

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

 

$

2,093.8

 

$

3,411.9

 

$

3,006.0

 

$

2,002.4

 

$

1,420.9

 

Fixed charges

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

105.9

 

123.2

 

113.4

 

108.9

 

106.5

 

(Gain) loss on debt prepayment

 

—

 

16.6

 

1.1

 

10.6

 

16.5

 

Total fixed charges

 

105.9

 

139.8

 

114.5

 

119.5

 

123.0

 

 

 

 

 

 

 

 

 

 

 

 

 

Earning plus fixed charges

 

$

2,199.7

 

$

3,551.7

 

$

3,120.5

 

$

2,121.9

 

$

1,543.9

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings to fixed charges

 

20.8

 

25.4

 

27.2

 

17.8

 

12.6

 

 

 

 

2008

 

2007

 

2006

 

2005

 

2004

 

Total debt

 

$

1,290.0

 

$

1,449.8

 

$

1,528.1

 

$

1,172.1

 

$

1,330.3

 

Cash and cash equivalent balance

 

(716.7

)

(1,409.3

)

(1,022.8

)

(876.0

)

(710.7

)

Net debt

 

573.3

 

40.5

 

505.3

 

296.1

 

619.6

 

 

 

 

 

 

 

 

 

 

 

 

 

Total capitalization

 

 

 

 

 

 

 

 

 

 

 

Net debt

 

573.3

 

40.5

 

505.3

 

296.1

 

619.6

 

Stockholders’ equity

 

3,381.3

 

3,848.1

 

3,666.6

 

3,326.1

 

2,813.6

 

Total capitalization

 

$

3,954.6

 

$

3,888.6

 

$

4,171.9

 

$

3,622.2

 

$

3,433.2

 

 

 

 

 

 

 

 

 

 

 

 

 

Net debt/total capitalization (*)

 

14.5

%

1.0

%

12.1

%

8.2

%

18.0

%

(*)   Represents net debt divided by total capitalization