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FINANCIAL INSTRUMENTS: (Tables) | 12 Months Ended
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Dec. 31, 2011
FINANCIAL INSTRUMENTS: |
Schedule of carrying amount and estimated fair values of the Company's financial instruments |
|  | Balance at December 31, 2011 |
|  | Carrying Value |  | Fair Value |
Liabilities: |  |  |  |  |
Long-term debt |  | $ | 2,745.7 |  | $ | 2,974.9 |
Schedule of fair values of assets and liabilities measured at fair value on a recurring basis |
|  | Fair Value at Measurement Date Using: |  |  |  |  |
Description |  | Fair Value as of December 31, 2011 |  | Quoted prices in active markets for identical assets (Level 1) |  | Significant other observable inputs (Level 2) |  | Significant unobservable inputs (Level 3) |
Assets: |  |  |  |  |  |  |  |  |
Short term investment: |  |  |  |  |  |  |  |  |
- Trading securities |  | $ | 514.6 |  | $ | 514.6 |  |  |  |  |
- Available-for-sale debt securities: |  |  |  |  |  |  |  |  |
Corporate bonds |  | 0.5 |  |  |  | $ | 0.5 |  |  |
Mortgage backed securities |  | 6.8 |  |  |  | 6.8 |  |  |
Accounts receivable: |  |  |  |  |  |  |  |  |
- Derivatives — classified as cash flow hedges: |  |  |  |  |  |  |  |  |
Zero cost collar |  | 8.9 |  |  |  | 8.9 |  |  |
- Derivatives - Not classified as hedges: |  |  |  |  |  |  |  |  |
Provisionally priced sales: |  |  |  |  |  |  |  |  |
Copper |  | 221.5 |  | 221.5 |  |  |  |  |
Molybdenum |  | 138.1 |  | 138.1 |  | — |  | — |
Total |  | $ | 890.4 |  | $ | 874.2 |  | $ | 16.2 |  | $ | — |
|  | Fair Value at Measurement Date Using: |  |  |  |  |
Description |  | Fair Value as of December 31, 2010 |  | Quoted prices in active markets for identical assets (Level 1) |  | Significant other observable inputs (Level 2) |  | Significant unobservable inputs (Level 3) |
Assets: |  |  |  |  |  |  |  |  |
Short term investment: |  |  |  |  |  |  |  |  |
- Trading securities |  | $ | 66.9 |  | $ | 66.9 |  |  |  |  |
- Available-for-sale debt securities: |  |  |  |  |  |  |  |  |
Foreign bonds |  |  |  |  |  |  |  | — |
Corporate bonds |  | 0.4 |  |  |  | $ | 0.4 |  | — |
Asset backed obligations |  | 0.3 |  |  |  | 0.3 |  | — |
Mortgage backed securities |  | 8.6 |  |  |  | 7.4 |  | $ | 1.2 |
Accounts receivable: |  |  |  |  |  |  |  |  |
- Derivatives - Not classified as hedges: |  |  |  |  |  |  |  |  |
Provisionally priced sales: |  |  |  |  |  |  |  |  |
Copper |  | 60.7 |  | 60.7 |  |  |  |  |
Molybdenum |  | 149.7 |  | 149.7 |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |
Other current liabilities: |  |  |  |  |  |  |  |  |
Liability derivatives - Classified as cash flow hedges: |  |  |  |  |  |  |  |  |
Swap |  | (124.4 | ) |  |  | (124.4 | ) |  |
Zero cost collar |  | (72.6 | ) | — |  | (72.6 | ) |  |
Total |  | $ | 89.6 |  | $ | 277.3 |  | $ | (188.9 | ) | $ | 1.2 |
Schedule of changes in the fair value of the Company's Level 3 short-term investments |
|  | 12 months ended December 31, 2011 |
|  | Available-for-sale debt securities: |
|  | Corporate bonds |  | Mortgage backed securities |  | Total |
Balance as of January 1, |  | $ | — |  | $ | 1.2 |  | $ | 1.2 |
Unrealized gain (loss) |  |  |  |  |  |  |
Purchases, sales, issuance and settlements (net) |  |  |  |  |  |  |
Transfers in/out of Level 3 |  | — |  | (1.2 | ) | (1.2 | )
Balance as of December 31, |  | $ | — |  | $ | — |  | $ | — |
|  | 12 months ended December 31, 2010 |
|  | Available-for-sale debt securities: |
|  | Corporate bonds |  | Mortgage backed securities |  | Total |
Balance as of January 1, |  | $ | 1.7 |  | $ | 1.4 |  | $ | 3.1 |
Unrealized gain (loss) |  |  |  |  |  |  |
Purchases, sales, issuance and settlements (net) |  | (1.3 | ) | — |  | (1.3 | )
Transfers in/out of Level 3 |  | (0.4 | ) | (0.2 | ) | (0.6 | )
Balance as of December 31, |  | $ | — |  | $ | 1.2 |  | $ | 1.2 |

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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income, and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issuances, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -Subparagraph c -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19279-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6947722&loc=d3e13433-108611 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19207-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 14 -Subparagraph a -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 15 -Subparagraph b-d -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6947722&loc=d3e13476-108611 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 10 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6947722&loc=d3e13467-108611 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 159 -Paragraph 18 -Subparagraph c(2), d, e, f -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -Subparagraph a, c(1), c(2), c(3), d -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 159 -Paragraph 19 -Subparagraph a, b, c(1), d(1) -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Topic 820 -SubTopic 10 -Publisher FASB -Number -Article -Subparagraph -Name Accounting Standards Codification -Paragraph 1 -Section 50 -URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19190-110258 + Details
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