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INCOME TAXES : (Tables)

6 Months Ended

Jun. 30, 2015

INCOME TAXES:

Schedule of income tax provision and effective income tax rate

The income tax provision and the effective income tax rate for the first six months of 2015 and 2014 were as follows ($ in millions):

		2015			2014
Income tax provision		$	286.2		$	429.9
Effective income tax rate		33.3		%	39.8		%

Components of the provision for income taxes

Components of the income tax provision for the six month periods of 2015 and 2014 include the following ($ in millions):

		2015			2014
Statutory income tax provision		$	249.8		$	361.6
Peruvian royalty		2.9			2.1
Mexican royalty		22.3			46.6
Peruvian special mining tax		11.2			19.6
Total income tax provision		$	286.2		$	429.9

Summary of income tax rate and dividend tax rate due to change in enacted tax law

Year		Income Tax Rate		Dividend Tax Rate
2015- 2016		28	%	6.8	%
2017- 2018		27	%	8.0	%
2019 and later		26	%	9.3	%

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- Definition

Disclosure of the income tax provision attributable to continuing operations and the effective income tax rate.

+ References

No definition available.

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Tabular disclosure of income tax rates and dividend tax rates for various periods.

+ References

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- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 740



-SubTopic 10



-Section 50



-Paragraph 9



-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

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