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FINANCIAL INSTRUMENTS: (Tables)
 3 Months Ended
Mar. 31, 2013
FINANCIAL INSTRUMENTS:  
Schedule of carrying amount and estimated fair values of the Company's financial instruments

Consequently, such financial instruments are not included in the following table that provides information about the carrying amounts and estimated fair values of other financial instruments that are not measured at fair value in the condensed consolidated balance sheet as of March 31, 2013 and December 31, 2012 (in millions):

 

 

 

As of March 31, 2013

 

As of December 31, 2012

 

 

 

Carrying Value

 

Fair Value

 

Carrying Value

 

Fair Value

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

Long-term debt

 

$

4,214.1

 

$

4,654.4

 

$

4,213.9

 

$

4,870.6

 

 
Schedule of fair values of assets and liabilities measured at fair value on a recurring basis

Fair values of assets and liabilities measured at fair value on a recurring basis were calculated as follows as of March 31, 2013 and December 31, 2012 (in millions):

 

 

 

Fair Value at Measurement Date Using:

 

Description

 

Fair Value as
of March
31, 2013

 

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

 

$

198.0

 

$

198.0

 

 

 

 

 

- Available for sale debt securities:

 

 

 

 

 

 

 

 

 

Corporate bonds

 

0.5

 

 

 

$

0.5

 

 

 

Asset backed obligations

 

0.1

 

 

 

0.1

 

 

 

Mortgage backed securities

 

5.9

 

 

 

5.9

 

 

 

 

 

 

 

 

 

 

 

 

 

Accounts receivable:

 

 

 

 

 

 

 

 

 

- Derivatives - Not classified as hedges:

 

 

 

 

 

 

 

 

 

Provisionally priced sales:

 

 

 

 

 

 

 

 

 

Copper

 

30.1

 

30.1

 

 

 

 

 

Molybdenum

 

100.7

 

100.7

 

—

 

—

 

Total

 

$

335.3

 

$

328.8

 

$

6.5

 

$

—

 

 

 

 

Fair Value at Measurement Date Using:

 

Description

 

Fair Value
as of
December
31, 2012

 

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

 

$

127.8

 

$

127.8

 

 

 

 

 

- Available-for-sale debt securities:

 

 

 

 

 

 

 

 

 

Corporate bonds

 

0.4

 

 

 

$

0.4

 

 

 

Asset backed securities

 

0.1

 

 

 

0.1

 

 

 

Mortgage backed securities

 

6.0

 

 

 

6.0

 

 

 

 

 

 

 

 

 

 

 

 

 

Accounts receivable:

 

 

 

 

 

 

 

 

 

- Derivatives - Not classified as hedges:

 

 

 

 

 

 

 

 

 

Provisionally priced sales:

 

 

 

 

 

 

 

 

 

Copper

 

70.8

 

70.8

 

 

 

 

 

Molybdenum

 

102.9

 

102.9

 

—

 

—

 

Total

 

$

308.0

 

$

301.5

 

$

6.5

 

$

—