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FINANCIAL INSTRUMENTS: (Tables)

3 Months Ended

Mar. 31, 2016

FAIR VALUE MEASUREMENT:

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, 2016 and December 31, 2015 (in millions):

		At March 31, 2016						At December 31, 2015
		Carrying Value			Fair Value			Carrying Value			Fair Value
Liabilities:
Long-term debt		$	5,952.1		$	5,705.6		$	5,951.5		$	5,211.5

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, 2016 and December 31, 2015 (in millions):

		Fair Value at Measurement Date Using:
Description		Fair Value as of March 31, 2016			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		$	279.6		$	279.6		$	—		$	—
- Available-for-sale debt securities:
Corporate bonds		0.1			—			0.1			—
Asset backed securities		—			—			—			—
Mortgage backed securities		2.9			—			2.9			—
Accounts receivable:
- Embedded derivatives - Not classified as hedges:
Provisionally priced sales:
Copper		309.3			309.3			—			—
Molybdenum		80.7			80.7			—			—
Total		$	672.6		$	669.6		$	3.0		$	—

		Fair Value at Measurement Date Using:
Description		Fair Value as of December 31, 2015			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		$	600.2		$	600.2		$	—		$	—
- Available-for-sale debt securities:
Corporate bonds		0.2			—			0.2			—
Asset backed securities		—			—			—			—
Mortgage backed securities		3.1			—			3.1			—
Accounts receivable:
- Embedded derivatives - Not classified as hedges:
Provisionally priced sales:
Copper		351.0			351.0			—			—
Molybdenum		62.4			62.4			—			—
Total		$	1,016.9		$	1,013.6		$	3.3		$	—

X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=49121117&loc=d3e13476-108611

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=49121117&loc=d3e13467-108611

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 10
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=49121117&loc=d3e13433-108611

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258

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