Exhibit 12.1
SOUTHERN COPPER CORPORATION
COMPUTATION OF FINANCIAL RATIOS
(In millions except ratios)
|
NET DEBT TO NET CAPITALIZATION |
|
2019 |
|
2018 |
|
2017 |
|
2016 |
|
2015 |
|
|||||
|
Total debt |
|
$ |
6,940.8 |
|
$ |
5,960.1 |
|
$ |
5,957.1 |
|
$ |
5,954.2 |
|
$ |
5,951.5 |
|
|
Cash and cash equivalents |
|
|
(1,925.1) |
|
|
(844.6) |
|
|
(1,004.8) |
|
|
(546.0) |
|
|
(274.5) |
|
|
Short‑term investments |
|
|
(80.7) |
|
|
(213.8) |
|
|
(50.5) |
|
|
(51.3) |
|
|
(603.5) |
|
|
Net debt |
|
|
4,935.0 |
|
|
4,901.7 |
|
|
4,901.8 |
|
|
5,356.8 |
|
|
5,073.5 |
|
|
Net capitalization |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net debt |
|
|
4,935.0 |
|
|
4,901.7 |
|
|
4,901.8 |
|
|
5,356.8 |
|
|
5,073.5 |
|
|
Equity |
|
|
6,858.2 |
|
|
6,612.9 |
|
|
6,149.4 |
|
|
5,870.9 |
|
|
5,299.2 |
|
|
Net capitalization |
|
|
11,793.2 |
|
|
11,514.6 |
|
|
11,051.2 |
|
$ |
11,227.7 |
|
$ |
10,372.7 |
|
|
Net debt/net capitalization(*) |
|
|
41.8 |
% |
|
42.6 |
% |
|
44.4 |
% |
|
47.7 |
% |
|
48.9 |
% |
(*)Represents net debt divided by net capitalization