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STOCKHOLDERS' EQUITY: (Tables) | 9 Months Ended
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Sep. 30, 2015
STOCKHOLDERS' EQUITY |
Schedule of activity in treasury stock | Activity in treasury stock in the nine-month period ended September 30, 2015 and 2014 is as follows (in millions):
|  | 2015 |  | 2014 |
Southern Copper common shares |  |  |  |  |
Balance as of January 1, |  | $ | 1,693.5 |  | $ | 1,011.0 |
Purchase of shares |  | 724.4 |  | 388.9 |
Used for corporate purposes |  | (0.4 | ) | (0.2 | )
Balance as of September 30, |  | 2,417.5 |  | 1,399.7 |
Parent Company (Grupo Mexico) common shares |  |  |  |  |
Balance as of January 1, |  | 207.2 |  | 205.6 |
Other activity, including dividend, interest and currency translation effect |  | (6.9 | ) | 6.2 |
Balance as of September 30, |  | 200.3 |  | 211.8 |
Treasury stock balance as of September 30, |  | $ | 2,617.8 |  | $ | 1,611.5 |
Schedule of share distributions | The following table summarizes share distributions in the nine months of 2015 and 2014:
|  | 2015 |  | 2014 |
Southern Copper common shares |  |  |  |  |
Directors’ Stock Award Plan |  | 13,200 |  | 12,000 |
Parent Company (Grupo Mexico) common shares |  |  |  |  |
Employee stock purchase plan (shares in millions) |  | 4.3 |  | 0.9 |
Schedule of share repurchase program activity |
Period |  | Total Number of Shares |  | Average Price Paid |  | Total Number of Shares Purchased as Part of Publicly |  | Maximum Number of Shares that May Yet Be Purchased Under the Plan |  | Total Cost |
From |  | To |  | Purchased |  | per Share |  | Announced Plan |  | @ $26.72 (*) |  | ($ in millions) |
2008 |  | 2012 |  | 46,914,486 |  | $ | 18.72 |  | 46,914,486 |  |  |  | $ | 878.1 |
2013 |  |  |  | 10,245,000 |  | 27.47 |  | 57,159,486 |  |  |  | 281.4 |
2014 |  |  |  | 22,711,428 |  | 30.06 |  | 79,870,914 |  |  |  | 682.8 |
2015 |  |  |  |  |  |  |  |  |  |  |  |  |
01/01/15 |  | 01/31/15 |  | 5,927,154 |  | 27.12 |  | 85,798,068 |  |  |  | 160.7 |
02/01/15 |  | 02/28/15 |  | 2,590,076 |  | 29.45 |  | 88,388,144 |  |  |  | 76.3 |
03/01/15 |  | 03/31/15 |  | 4,563,649 |  | 29.16 |  | 92,951,793 |  |  |  | 133.1 |
Total first quarter |  |  |  | 13,080,879 |  | 29.29 |  |  |  |  |  | 370.1 |
04/01/15 |  | 04/30/15 |  | 1,511,200 |  | 29.42 |  | 94,462,993 |  |  |  | 44.5 |
Total second quarter |  |  |  | 1,511,200 |  | 29.42 |  |  |  |  |  | 44.5 |
07/01/15 |  | 07/31/15 |  | 1,603,800 |  | 27.84 |  | 96,066,793 |  |  |  | 44.6 |
08/01/15 |  | 08/31/15 |  | 6,160,000 |  | 26.90 |  | 102,226,793 |  |  |  | 165.7 |
09/01/15 |  | 09/30/15 |  | 3,724,273 |  | 26.69 |  | 105,951,066 |  |  |  | 99.4 |
Total third quarter |  |  |  | 11,488,073 |  | 26.97 |  |  |  |  |  | 309.7 |
|  |  |  |  |  |  |  |  |  | 16,219,324 |  |  |
Total purchased |  |  |  | 105,951,066 |  | $ | 24.22 |  |  |  |  |  | $ | 2,566.6 |
(*) NYSE closing price of SCC common shares at September 30, 2015.
Schedule of activity in Directors' Stock Award Plan |
|  | 2015 |  | 2014 |
Total SCC shares reserved for the plan |  | 600,000 |  | 600,000 |
Total shares granted at January 1, |  | (309,600 | ) | (297,600 | )
Granted in the period |  | (13,200 | ) | (12,000 | )
Total shares granted at September 30, |  | (322,800 | ) | (309,600 | )
Remaining shares reserved |  | 277,200 |  | 290,400 |
Employee Stock Purchase 2007 Plan |
STOCKHOLDERS' EQUITY |
Schedule of stock award activity |
|  | Shares |  | Unit Weighted Average Grant Date Fair Value |
Outstanding shares at January 1, 2015 |  | 4,298,612 |  | $ | 1.16 |
Granted |  | — |  | — |
Exercised |  | (4,189,371 | ) | 1.16 |
Forfeited |  | — |  | — |
Outstanding shares at September 30, 2015 |  | 109,241 |  | $ | 1.16 |
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 |
Employee Stock Purchase 2010 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, 2015 and 2014 and the unrecognized compensation expense under this plan were as follows (in millions):
|  | 2015 |  | 2014 |
Stock based compensation expense |  | $ | 0.4 |  | $ | 0.4 |
Unrecognized compensation expense |  | $ | 1.7 |  | $ | 2.2 |
Schedule of stock award activity |
|  | Shares |  | Unit Weighted Average Grant Date Fair Value |
Outstanding shares at January 1, 2015 |  | 2,287,891 |  | $ | 2.05 |
Granted |  | — |  | — |
Exercised |  | (60,309 | ) | 2.05 |
Forfeited |  | — |  | — |
Outstanding shares at September 30, 2015 |  | 2,227,582 |  | $ | 2.05 |
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 |
Employee Stock Purchase 2015 Plan |
STOCKHOLDERS' EQUITY |
Schedule of stock based compensation expense and unrecognized compensation expense | The stock based compensation expense for the nine months of 2015 and the unrecognized compensation expense under this plan were as follows (in millions):
|  | 2015 |
Stock based compensation expense |  | $ | 0.2 |
Unrecognized compensation expense |  | $ | 4.6 |
Schedule of stock award activity |
|  | Shares |  | Unit Weighted Average Grant Date Fair Value |
Outstanding shares at January 1, 2015 |  | — |  | — |
Granted |  | 2,652,886 |  | $ | 2.63 |
Exercised |  | — |  | — |
Forfeited |  | — |  | — |
Outstanding shares at September 30, 2015 |  | 2,652,886 |  | $ | 2.63 |
Employee Stock Purchase 2015 Plan | Voluntary Resignation |
STOCKHOLDERS' EQUITY |
Schedule of percentage deduction from the amount to be paid to the employee on termination of service |
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%
Employee Stock Purchase 2015 Plan | Involuntary Termination |
STOCKHOLDERS' EQUITY |
Schedule of percentage deduction from the amount to be paid to the employee on termination of service |
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%

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