EX-12.1 3 a11-2140_1ex12d1.htm EX-12.1

Exhibit 12.1

 

SOUTHERN COPPER CORPORATION

COMPUTATION OF FINANCIAL RATIOS

(In millions except ratios)

 

EARNINGS TO FIXED CHARGES

 

2010

 

2009

 

2008

 

2007

 

2006

 

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

 

$

2,430.8

 

$

1,404.4

 

$

2,093.8

 

$

3,411.9

 

$

3,006.0

 

Fixed charges

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

167.9

 

99.8

 

106.3

 

123.2

 

113.4

 

(Gain) loss on debt prepayment

 

—

 

—

 

—

 

16.6

 

1.1

 

Total fixed charges

 

167.9

 

99.8

 

106.3

 

139.8

 

114.5

 

 

 

 

 

 

 

 

 

 

 

 

 

Earning plus fixed charges

 

$

2,598.7

 

$

1,504.2

 

$

2,200.1

 

$

3,551.7

 

$

3,120.5

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings to fixed charges

 

15.5

 

15.1

 

20.7

 

25.4

 

27.2

 

 

NET DEBT TO NET CAPITALIZATION

 

2010

 

2009

 

2008

 

2007

 

2006

 

Total debt

 

$

2,760.4

 

$

1,280.3

 

$

1,290.0

 

$

1,449.8

 

$

1,528.1

 

Cash and cash equivalent balance

 

(2,192.7

)

(772.3

)

(716.7

)

(1,409.3

)

(1,022.8

)

Net debt

 

567.7

 

508.0

 

573.3

 

40.5

 

505.3

 

 

 

 

 

 

 

 

 

 

 

 

 

Net capitalization

 

 

 

 

 

 

 

 

 

 

 

Net debt

 

567.7

 

508.0

 

573.3

 

40.5

 

505.3

 

Equity

 

3,910.4

 

3,893.7

 

3,395.4

 

3,864.8

 

3,680.6

 

Net capitalization

 

$

4,478.1

 

$

4,401.7

 

$

3,968.7

 

$

3,905.3

 

$

4,185.9

 

 

 

 

 

 

 

 

 

 

 

 

 

Net debt/net capitalization (*)

 

12.7

%

11.5

%

14.4

%

1.0

%

12.1

%

 

(*) Represents net debt divided by net capitalization