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INCOME TAXES: (Tables)
6 Months Ended
Jun. 30, 2018
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 2018 and 2017 consisted of (in millions):

 

 

 

2018

 

2017

 

Statutory income tax provision

 

$

473.3

 

$

289.1

 

GILTI tax

 

8.4

 

 

Peruvian royalty

 

4.4

 

0.4

 

Mexican royalty

 

45.0

 

32.3

 

Peruvian special mining tax

 

14.6

 

14.8

 

 

 

 

 

 

 

Total income tax provision

 

$

545.7

 

$

336.6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Effective income tax rate

 

38.3

%

35.7

%