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v3.19.2

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018
Net sales (including sales to related parties, see note 7) | $ 1,818.0 | $ 1,837.2 | $ 3,571.4 | $ 3,678.4
Operating cost and expenses: |  |  |  |
Cost of sales (exclusive of depreciation, amortization and depletion shown separately below) | 867.3 | 851.7 | 1,711.4 | 1,728.2
Selling, general and administrative | 30.9 | 26.2 | 59.4 | 50.3
Depreciation, amortization and depletion | 198.8 | 162.6 | 380.4 | 324.6
Exploration | 7.4 | 9.1 | 12.9 | 14.3
Total operating costs and expenses | 1,104.4 | 1,049.6 | 2,164.1 | 2,117.4
Operating income | 713.6 | 787.6 | 1,407.3 | 1,561.0
Interest expense | (90.2) | (90.2) | (180.3) | (180.5)
Capitalized interest | 6.2 | 21.6 | 18.5 | 42.6
Other income (expense) | 23.0 | (3.1) | 28.3 | (5.5)
Interest income | 4.4 | 2.8 | 8.1 | 5.4
Income before income taxes | 657.0 | 718.7 | 1,281.9 | 1,423.0
Income taxes (including royalty taxes, see Note 4) | 251.1 | 309.1 | 489.0 | 545.7
Net income before equity earnings of affiliate | 405.9 | 409.6 | 792.9 | 877.3
Equity earnings (loss) of affiliate, net of income tax | (1.5) | 1.5 | 0.7 | 5.6
Net income | 404.4 | 411.1 | 793.6 | 882.9
Less: Net income attributable to the non-controlling interest | 2.0 | 1.5 | 3.0 | 2.6
Net income attributable to SCC | $ 402.4 | $ 409.6 | $ 790.6 | $ 880.3
Per common share amounts attributable to SCC: |  |  |  |
Net earnings-basic and diluted | $ 0.52 | $ 0.53 | $ 1.02 | $ 1.14
Dividends declared and paid | $ 0.40 | $ 0.30 | $ 0.80 | $ 0.60
Weighted average shares outstanding-basic and diluted | 773.0 | 773.0 | 773.0 | 773.0

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