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FAIR VALUE MEASUREMENT: (Tables)

12 Months Ended

Dec. 31, 2019

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 consolidated balance sheet as of December 31, 2019 and December 31, 2018 (in millions):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

At December 31, 2019

​

At December 31, 2018

​

Carrying Value

Fair Value

Carrying Value

Fair Value

Liabilities:

​

​

​

​

​

​

​

​

​

​

​

​

Long-term debt level 1

​

$

6,190.6

​

$

7,675.3

​

$

5,210.7

​

$

5,540.0

Long-term debt level 2

​

​

750.2

​

​

776.1

​

​

749.4

​

​

761.7

Total long-term debt

​

$

6,940.8

​

$

8,451.4

​

$

5,960.1

​

$

6,301.7

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 of December 31, 2019 and 2018, as follows (in millions):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Fair Value at Measurement Date Using:

​

​

​

​

​

Significant

​

​

​

​

Fair Value

​

Quoted prices in

​

other

​

Significant

​

​

as of

​

active markets for

​

observable

​

unobservable

​

​

December 31,

​

identical assets

​

inputs

​

inputs

Description

​

2019

​

(Level 1)

​

(Level 2)

​

(Level 3)

Assets:

​

​

​

​

​

​

​

​

​

​

​

​

Short term investment:

​

​

​

​

​

​

​

​

​

​

​

​

—Trading securities

​

$

80.0

​

$

80.0

​

$

—

​

$

—

—Available-for-sale debt securities:

​

​

​

​

​

​

​

​

​

​

​

​

Corporate bonds

​

—

​

​

—

​

​

—

​

​

—

Asset backed securities

​

0.4

​

​

—

​

​

0.4

​

​

—

Mortgage backed securities

​

0.3

​

​

—

​

​

0.3

​

​

—

Accounts receivable:

​

​

​

​

​

​

​

​

​

​

​

​

—Embedded derivatives—Not classified as hedges:

​

​

​

​

​

​

​

​

​

​

​

​

Provisionally priced sales:

​

​

​

​

​

​

​

​

​

​

​

​

Copper

​

326.5

​

326.5

​

​

—

​

​

—

Molybdenum

​

126.8

​

126.8

​

—

​

​

—

Total

​

$

534.0

​

$

533.3

​

$

0.7

​

$

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Fair Value at Measurement Date Using:

​

​

​

​

​

Significant

​

​

​

​

Fair Value

​

Quoted prices in

​

other

​

Significant

​

​

as of

​

active markets for

​

observable

​

unobservable

​

​

December 31,

​

identical assets

​

inputs

​

inputs

Description

​

2018

​

(Level 1)

​

(Level 2)

​

(Level 3)

Assets:

​

​

​

​

​

​

​

​

​

​

​

​

Short term investment:

​

​

​

​

​

​

​

​

​

​

​

​

—Trading securities

​

$

213.1

​

$

213.1

​

$

—

​

$

—

—Available-for-sale debt securities:

​

​

​

​

​

​

​

​

​

​

​

​

Corporate bonds

​

—

​

​

—

​

​

—

​

​

—

Asset backed securities

​

0.4

​

​

—

​

0.4

​

​

—

Mortgage backed securities

​

0.3

​

​

—

​

​

0.3

​

​

—

Accounts receivable:

​

​

​

​

​

​

​

​

​

​

​

​

—Embedded derivatives-Not classified as hedges:

​

​

​

​

​

​

​

​

​

​

​

​

Provisionally priced sales:

​

​

​

​

​

​

​

​

​

​

​

​

Copper

​

274.3

​

274.3

​

​

—

​

​

—

Molybdenum

​

107.4

​

107.4

​

—

​

​

—

Total

​

$

595.5

​

$

594.8

​

$

0.7

​

$

—

​

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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=118260190&loc=d3e13467-108611

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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- References

No definition available.

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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/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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