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STOCKHOLDERS' EQUITY: (Tables) | 9 Months Ended
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Sep. 30, 2014
STOCKHOLDERS' EQUITY |
Schedule of activity in treasury stock | Activity in treasury stock in the nine-month period ended September 30, 2014 and 2013 is as follows (in millions):
|  | 2014 |  | 2013 |
Southern Copper common shares |  |  |  |  |
Balance as of January 1, |  | $ | 1,011.0 |  | $ | 729.8 |
Purchase of shares |  | 388.9 |  | 124.0 |
Used for corporate purposes |  | (0.2 | ) | (0.3 | )
Balance as of September 30, |  | 1,399.7 |  | 853.5 |
Parent Company (Grupo Mexico) common shares |  |  |  |  |
Balance as of January 1, |  | 205.6 |  | 189.0 |
Other activity, including dividend, interest and currency translation effect |  | 6.2 |  | 12.9 |
Balance as of September 30, |  | 211.8 |  | 201.9 |
Treasury stock balance as of September 30, |  | $ | 1,611.5 |  | $ | 1,055.4 |
Schedule of share distributions |
|  | 2014 |  | 2013 |
Southern Copper common shares |  |  |  |  |
Directors’ Stock Award Plan |  | 12,000 |  | 12,000 |
Parent Company (Grupo Mexico) common shares |  |  |  |  |
Employee stock purchase plan (shares in millions) |  | 0.9 |  | 2.5 |
Schedule of share repurchase program activity |
Period |  | Total Number of |  | Average Price Paid |  | Total Number of Shares Purchased as Part of Publicly |  | Maximum Number of Shares that May Yet Be Purchased Under |  | Total Cost |
From |  | To |  | Shares Purchased |  | per Share |  | Announced Plan |  | the Plan @ $29.65 (*) |  | ($ in millions) |
2008: |  |  |  | 28,510,150 |  | $ | 13.49 |  | 28,510,150 |  |  |  | $ | 384.7 |
2009: |  |  |  | 4,912,000 |  | 14.64 |  | 33,422,150 |  |  |  | 71.9 |
2010: |  |  |  | 15,600 |  | 29.69 |  | 33,437,750 |  |  |  | 0.5 |
2011: |  |  |  | 9,034,400 |  | 30.29 |  | 42,472,150 |  |  |  | 273.7 |
2012: |  |  |  | 4,442,336 |  | 33.17 |  | 46,914,486 |  |  |  | 147.3 |
2013: |  |  |  | 10,245,000 |  | 27.47 |  | 57,159,486 |  |  |  | 281.4 |
2014: |  |  |  |  |  |  |  |  |  |  |  |  |
01/01/14 |  | 01/31/14 |  | 1,768,000 |  | 28.06 |  | 58,927,486 |  |  |  | 49.6 |
03/01/14 |  | 03/21/14 |  | 106,079 |  | 27.04 |  | 59,033,565 |  |  |  | 2.9 |
Total first quarter |  |  |  | 1,874,079 |  | 28.00 |  |  |  |  |  | 52.5 |
06/01/14 |  | 06/30/14 |  | 450,532 |  | 28.92 |  | 59,484,097 |  |  |  | 13.0 |
Total second quarter |  |  |  | 450,532 |  | 28.92 |  |  |  |  |  | 13.0 |
07/01/14 |  | 07/31/14 |  | 724,516 |  | 33.04 |  | 60,208,613 |  |  |  | 23.9 |
08/01/14 |  | 08/31/14 |  | 4,926,534 |  | 32.09 |  | 65,135,147 |  |  |  | 158.1 |
09/01/14 |  | 09/30/14 |  | 4,498,263 |  | 31.44 |  | 69,633,410 |  |  |  | 141.4 |
Total third quarter |  |  |  | 10,149,313 |  | 31.87 |  |  |  |  |  | 323.4 |
Total purchased |  |  |  | 69,633,410 |  | $ | 22.24 |  |  |  | 15,229,726 |  | $ | 1,548.4 |
(*) NYSE closing price of SCC common shares at September 30, 2014.
Schedule of activity in Directors' Stock Award Plan |
|  | 2014 |  | 2013 |
Total SCC shares reserved for the plan |  | 600,000 |  | 600,000 |
Total shares granted at January 1, |  | (297,600 | ) | (285,600 | )
Granted in the period |  | (12,000 | ) | (12,000 | )
Total shares granted at September 30, |  | (309,600 | ) | (297,600 | )
Remaining shares reserved |  | 290,400 |  | 302,400 |
Employee Stock Purchase Plan |
STOCKHOLDERS' EQUITY |
Schedule of stock based compensation expense and unrecognized compensation expense | The stock based compensation expense for the nine months ended September 30, 2014 and 2013, under the Employee Stock Purchase Plan and the unrecognized compensation expense as of September 30, 2014 and 2013 under this plan were as follows (in millions):
|  | 2014 |  | 2013 |
Stock based compensation expense |  | $ | 1.6 |  | $ | 1.6 |
Unrecognized compensation expense |  | $ | 0.5 |  | $ | 2.6 |
Schedule of stock award activity |
|  | Shares |  | Unit Weighted Average Grant Date Fair Value |
Outstanding shares at January 1, 2014 |  | 4,449,599 |  | $ | 1.16 |
Granted |  | — |  | — |
Exercised |  | (140,545 | ) | 1.16 |
Forfeited |  | — |  | — |
Outstanding shares at September 30, 2014 |  | 4,309,054 |  | $ | 1.16 |
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 |
New Employee Stock Purchase Plan |
STOCKHOLDERS' EQUITY |
Schedule of stock based compensation expense and unrecognized compensation expense | The stock based compensation expense for the nine months ended September 30, 2014 and 2013 under the New Employee Stock Purchase Plan and the unrecognized compensation expense as of September 30, 2014 and 2013 under this plan were as follows (in millions):
|  | 2014 |  | 2013 |
Stock based compensation expense |  | $ | 0.4 |  | $ | 0.4 |
Unrecognized compensation expense |  | $ | 2.2 |  | $ | 2.8 |
Schedule of stock award activity |
|  | Shares |  | Unit Weighted Average Grant Date Fair Value |
Outstanding shares at January 1, 2014 |  | 3,012,464 |  | $ | 2.05 |
Granted |  | — |  | — |
Exercised |  | (724,573 | ) | 2.05 |
Forfeited |  | — |  | — |
Outstanding shares at September 30, 2014 |  | 2,287,891 |  | 2.05 |
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 |

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