XML 32 R30.htm IDEA: XBRL DOCUMENT v2.4.0.6
RELATED PARTY TRANSACTIONS: (Tables)
3 Months Ended
Mar. 31, 2013
RELATED PARTY TRANSACTIONS:  
Receivable and payable balances with related parties

Receivable and payable balances with related parties are shown below (in millions):

 

 

 

As of

 

 

 

March 31, 2013

 

December 31, 2012

 

Related parties receivable current:

 

 

 

 

 

Grupo Mexico S.A.B de C.V. and affiliates

 

$

0.8

 

$

1.8

 

Asarco LLC.

 

9.2

 

 

Compania Perforadora Mexico S.A.P.I. de C.V.

 

0.6

 

0.5

 

Compania Minera Coimolache S.A.

 

23.4

 

23.4

 

Mexico Proyectos y Desarrollos, S.A. de C.V. and affiliates

 

0.2

 

 

 

 

$

34.2

 

$

25.7

 

 

 

 

 

 

 

Related parties receivable non-current:

 

 

 

 

 

Mexico Generadora de Energia S.de R.L. (“MGE”)

 

$

173.4

 

$

184.0

 

 

 

 

 

 

 

Related parties payable:

 

 

 

 

 

Grupo Mexico S.A.B. de C.V. and affiliates

 

$

0.7

 

$

 

Asarco LLC

 

 

15.3

 

Higher Technology S.A.C.

 

0.1

 

0.2

 

Breaker, S.A. de C.V

 

0.3

 

 

Mexico Transportes Aereos S.A. de C.V. (“Mextransport”)

 

0.4

 

0.1

 

Mexico Proyectos y Desarrollos, S.A. de C.V. and affiliates

 

 

2.1

 

Ferrocarril Mexicano S.A. de C.V.

 

2.6

 

2.6

 

 

 

$

4.1

 

$

20.3

 

 

Purchase activity with related parties

The following table summarizes the purchase activity with related parties in the three months ended March 31, 2013 and 2012 (in millions):

 

 

 

As of March 31,

 

 

 

2013

 

2012

 

Grupo Mexico and affiliates:

 

 

 

 

 

Grupo Mexico Servicios S.A de C.V

 

$

3.5

 

$

3.5

 

Asarco LLC.

 

32.9

 

5.6

 

Ferrocarril Mexicano S.A de C.V.

 

5.8

 

4.1

 

Mexico Proyectos y Desarrollos, S.A. de C.V. and affiliates

 

9.3

 

11.2

 

Cia Perforadora Mexico S.A.P.I. de C.V and affiliates

 

0.6

 

0.1

 

 

 

 

 

 

 

Other Larrea family companies:

 

 

 

 

 

Mextransport

 

0.6

 

0.7

 

 

 

 

 

 

 

Companies with relationships to SCC executive officers families:

 

 

 

 

 

Higher Technology S.A.C.

 

0.3

 

0.3

 

Servicios y Fabricaciones Mecanicas S.A.C.

 

0.1

 

 

Sempertrans France Belting Technology

 

0.1

 

 

Breaker S.A. de C.V.

 

0.8

 

0.5

 

Total purchases

 

$

54.0

 

$

26.0

 

 

Sales and other revenue activity with related parties

The following table summarizes the sales and other revenue activity with related parties in the first quarter of 2013 and 2012 (in millions):

 

 

 

As of March 31,

 

 

 

2013

 

2012

 

Asarco

 

$

36.6

 

$

11.0

 

Mexico Proyectos y Desarrollos, S.A. de C.V.

 

0.2

 

0.1

 

Cia Perforadora Mexico S.A.P.I. de C.V and affiliates

 

0.1

 

 

MGE

 

0.1

 

 

 

Mextransport

 

0.1

 

0.7

 

Total

 

$

37.1

 

$

11.8

 

 

Mexico Transportes Aereos S.A. de C.V. ("Mextransport")
 
RELATED PARTY TRANSACTIONS:  
Conditions and balance of loan guarantee for related party

 

 

 

 

Loan

 

Original loan balance (in millions)

 

$

 8.5

 

Maturity

 

August 2013

 

Interest rate

 

Libor + 0.15

%

Remaining balance at March 31, 2013 (in millions)

 

$

 0.6

 

 

Compania Minera Coimolache S.A.
 
RELATED PARTY TRANSACTIONS:  
Conditions and balance of loan guarantee for related party

Conditions and balance of the loan as of March 31, 2013 are as follows (in millions):

 

 

 

Loan

 

Total loan granted

 

$

 56.6

 

Interest rate

 

6 months Libor + 3% (approximately 3.45

)%

Remaining balance at March 31, 2013

 

$

 23.4

 

Interest earned in the first quarter 2013

 

$

 0.4

 

Interest earned in the first quarter 2012

 

$

 0.5