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DERIVATIVE INSTRUMENTS: (Tables)
12 Months Ended
Dec. 31, 2011
DERIVATIVE INSTRUMENTS:  
Copper derivative activity related to copper sales transactions

 

 

 

 

2011

 

2010

 

Zero cost collar contracts:

 

 

 

 

 

Pounds (in millions)

 

423.3

 

 

Average LME cap price

 

$

3.63

 

 

Average LME floor price

 

$

2.27

 

 

 

 

 

 

 

 

Swap contracts:

 

 

 

 

 

Pounds (in millions)

 

390.8

 

276.7

 

Weighted average COMEX price

 

$

3.46

 

$

3.79

 

 

 

 

 

 

 

Realized gain (loss) on copper derivatives

 

$

13.5

 

$

(41.9

)

Copper derivative contracts

 

 

 

 

1st Quarter 2012

 

Zero cost collar contracts:

 

 

 

Pounds (in millions)

 

46.3

 

Average LME cap price

 

$

5.18

 

Average LME floor price

 

$

3.50

 

Estimated % of copper sales covered

 

13.6

%

Unrealized gain recognized in other comprehensive income (net of income taxes of $3.5 million) (in millions)

 

$

5.4