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STOCKHOLDERS' EQUITY: (Tables) | 9 Months Ended
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Sep. 30, 2013
STOCKHOLDERS' EQUITY: |
Schedule of activity in treasury stock | Activity in treasury stock in the nine-month period ended September 30, 2013 and 2012 is as follows (in millions):
|  | 2013 |  | 2012 |
Southern Copper common shares |  |  |  |  |
Balance as of January 1, |  | $ | 729.8 |  | $ | 734.1 |
Purchase of shares |  | 124.0 |  | 132.4 |
Stock dividend |  | — |  | (151.4 | )
Used for corporate purposes |  | (0.3 | ) | (0.3 | )
Balance as of September 30, |  | 853.5 |  | 714.8 |
Parent Company (Grupo Mexico) common shares |  |  |  |  |
Balance as of January 1, |  | 189.0 |  | 163.7 |
Other activity, including dividend, interest and currency translation effect |  | 12.9 |  | 24.1 |
Balance as of September 30, |  | 201.9 |  | 187.8 |
Treasury stock balance as of September 30, |  | $ | 1,055.4 |  | $ | 902.6 |
Schedule of share distributions | The following table summarizes share distributions in the nine months of 2013 and 2012:
|  | 2013 |  | 2012 |
Southern Copper common shares |  |  |  |  |
Directors’ Stock Award Plan |  | 12,000 |  | 14,400 |
Parent Company (Grupo Mexico) common shares |  |  |  |  |
Employee stock purchase plan (shares in millions) |  | 4.5 |  | 7.0 |
Schedule of share repurchase program activity |
|  |  |  |  |  |  |  |  |  | Maximum Number |  |  |
|  |  |  |  |  |  |  | Total Number of |  | of Shares that May |  |  |
|  |  |  | Total Number of |  | Average |  | Shares Purchased as |  | Yet Be Purchased |  |  |
Period |  | Shares |  | Price Paid |  | Part of Publicly |  | Under the Plan |  | Total Cost |
From |  | To |  | Purchased |  | per Share |  | Announced Plan |  | @ $27.24 (*) |  | ($ in millions) |
2008: |  |  |  |  |  |  |  |  |  |  |  |  |
08/11/08 |  | 12/31/08 |  | 28,510,150 |  | $ | 13.49 |  | 28,510,150 |  |  |  | $ | 384.7 |
2009: |  |  |  |  |  |  |  |  |  |  |  |  |
01/12/09 |  | 09/30/09 |  | 4,912,000 |  | 14.64 |  | 33,422,150 |  |  |  | 71.9 |
2010: |  |  |  |  |  |  |  |  |  |  |  |  |
05/05/10 |  | 10/14/10 |  | 15,600 |  | 29.69 |  | 33,437,750 |  |  |  | 0.5 |
2011: |  |  |  |  |  |  |  |  |  |  |  |  |
05/02/11 |  | 12/31/11 |  | 9,034,400 |  | 30.29 |  | 42,472,150 |  |  |  | 273.7 |
2012: |  |  |  |  |  |  |  |  |  |  |  |  |
04/10/12 |  | 10/31/12 |  | 4,442,336 |  | 33.17 |  | 46,914,486 |  |  |  | 147.3 |
2013: |  |  |  |  |  |  |  |  |  |  |  |  |
04/01/13 |  | 04/30/13 |  | 1,500 |  | 32.96 |  | 46,915,986 |  |  |  | 0.1 |
05/01/13 |  | 05/31/13 |  | 807,100 |  | 32.33 |  | 47,723,086 |  |  |  | 26.1 |
06/01/13 |  | 06/30/13 |  | 1,350,000 |  | 29.05 |  | 49,073,086 |  |  |  | 39.2 |
Total second quarter |  | 2,158,600 |  | 30.28 |  |  |  |  |  | 65.4 |
07/01/13 |  | 07/31/13 |  | 1,300,000 |  | 27.60 |  | 50,373,086 |  |  |  | 35.9 |
08/01/13 |  | 08/31/13 |  | 641,400 |  | 26.68 |  | 51,014,486 |  |  |  | 17.1 |
09/01/13 |  | 09/30/13 |  | 204,012 |  | 27.65 |  | 51,218,498 |  |  |  | 5.6 |
Total third quarter |  | 2,145,412 |  | 27.33 |  |  |  |  |  | 58.6 |
Total nine months 2013 |  | 4,304,012 |  | 28.81 |  |  |  |  |  | 124.0 |
Total purchased |  | 51,218,498 |  | $ | 19.56 |  |  |  | 36,635,590 |  | $ | 1,002.1 |
(*) NYSE closing price of SCC common shares at September 30, 2013.
Schedule of activity in Directors' Stock Award Plan |
|  | 2013 |  | 2012 |
Total SCC shares reserved for the plan |  | 600,000 |  | 600,000 |
Total shares granted at January 1, |  | (285,600 | ) | (271,200 | )
Granted in the period |  | (12,000 | ) | (14,400 | )
Total shares granted at September 30, |  | (297,600 | ) | (285,600 | )
Remaining shares reserved |  | 302,400 |  | 314,400 |
Deduction from the amount to be paid to the employee in case of voluntary resignation |
If the resignation occurs during: |  | % Deducted |
1st year after the grant date |  | 90 | %
2nd year after the grant date |  | 80 | %
3rd year after the grant date |  | 70 | %
4th year after the grant date |  | 60 | %
5th year after the grant date |  | 50 | %
6th year after the grant date |  | 40 | %
7th year after the grant date |  | 20 | %
Deduction from the amount to be paid to the employee in case of involuntary termination |
If the termination occurs during: |  | % Deducted |
1st year after the grant date |  | 100 | %
2nd year after the grant date |  | 95 | %
3rd year after the grant date |  | 90 | %
4th year after the grant date |  | 80 | %
5th year after the grant date |  | 70 | %
6th year after the grant date |  | 60 | %
7th year after the grant date |  | 50 | %
Employee Stock Purchase Plan |
Share based compensation plan |
Schedule of stock-based compensation expense and unrecognized compensation expense | The stock based compensation expense for the nine months ended September 30, 2013 and 2012 and the unrecognized compensation expense as of September 30, 2013 and 2012 under this plan were as follows (in millions):
|  | 2013 |  | 2012 |
Stock based compensation expense |  | $ | 1.6 |  | $ | 1.6 |
Unrecognized compensation expense |  | $ | 2.6 |  | $ | 4.8 |
Schedule of stock award activity of the Employee Stock Purchase Plan | The following table presents the stock award activity of the Employee Stock Purchase Plan for the nine months ended September 30, 2013 and 2012:
|  | Shares |  | Unit Weighted Average Grant Date Fair Value |
Outstanding shares at January 1, 2013 |  | 6,955,572 |  | $ | 1.16 |
Granted |  | — |  | — |
Exercised |  | (2,396,354 | ) | 1.16 |
Forfeited |  | (31,159 | ) | 1.16 |
Outstanding shares at September 30, 2013 |  | 4,528,059 |  | $ | 1.16 |
Outstanding shares at January 1, 2012 |  | 7,270,341 |  | $ | 1.16 |
Granted |  | — |  | — |
Exercised |  | (208,199 | ) | 1.16 |
Forfeited |  | (94,339 | ) | 1.16 |
Outstanding shares at September 30, 2012 |  | 6,967,803 |  | $ | 1.16 |
New Employee Stock Purchase Plan |
Share based compensation plan |
Schedule of stock-based compensation expense and unrecognized compensation expense | The stock based compensation expense for the nine months ended September 30, 2013 and 2012 and the unrecognized compensation expense as of September 30, 2013 and 2012 under this plan were as follows (in millions):
|  | 2013 |  | 2012 |
Stock based compensation expense |  | $ | 0.4 |  | $ | 0.4 |
Unrecognized compensation expense |  | $ | 2.8 |  | $ | 3.4 |
Schedule of stock award activity of the Employee Stock Purchase Plan | The following table presents the stock award activity of the New Employee Stock Purchase Plan for the nine months ended September 30, 2013 and 2012:
|  | Shares |  | Unit Weighted Average Grant Date Fair Value |
Outstanding shares at January 1, 2013 |  | 2,944,742 |  | $ | 2.05 |
Granted |  | 226,613 |  | 2.05 |
Exercised |  | (22,470 | ) | 2.05 |
Forfeited |  | (103,513 | ) | 2.05 |
Outstanding shares at September 30, 2013 |  | 3,045,372 |  | $ | 2.05 |
Outstanding shares at January 1, 2012 |  | 3,807,146 |  | $ | 2.05 |
Granted |  | — |  | — |
Exercised |  | (727,134 | ) | 2.05 |
Forfeited |  | (89,554 | ) | 2.05 |
Outstanding shares at September 30, 2012 |  | 2,990,458 |  | $ | 2.05 |

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