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INCOME TAXES: | 3 Months Ended
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Mar. 31, 2022
INCOME TAXES: |
INCOME TAXES: | NOTE 4 — INCOME TAXES: ​ The income tax provision and the effective income tax rate for the first three months of 2022 and 2021 consisted of (in millions):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 | ​
Statutory income tax provision | ​ | $ | 511.6 | ​ | $ | 427.3 | ​
Peruvian royalty | ​ |  | 17.0 | ​ |  | 11.6 | ​
Mexican royalty | ​ |  | 58.0 | ​ |  | 47.4 | ​
Peruvian special mining tax | ​ |  | 25.5 | ​ |  | 21.2 | ​
Total income tax provision | ​ | $ | 612.1 | ​ | $ | 507.5 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Effective income tax rate | ​ | ​ | 43.8 | % | ​ | 40.1 | %
​ These provisions include income taxes for Peru, Mexico and the United States. The Mexican royalty, the Peruvian royalty and the Peruvian special mining tax are included in the income tax provision. The increase in the effective income tax rate in 2022 compared to the same period in 2021 was primarily attributable to the fact that the Company registered uncertain tax provisions in the Peruvian jurisdiction. ​ Peruvian royalty and special mining tax: The Company has accrued $42.5 million and $32.8 million of royalty charge and special mining tax as part of the income tax provision in the first quarter of 2022 and 2021, respectively. ​ Mexican mining royalty: The Company has accrued $58 million and $47.4 million of royalty taxes as part of the income tax provision for the first quarter of 2022 and 2021, respectively. ​ Accounting for uncertainty in income taxes: In the first three months of 2022, the company recorded a receivable, current liability and non-current liability for the Peruvian jurisdiction that increased tax expense by approximately $33.8 million. The Company’s current asset and current liability for uncertain tax positions net to $22.1 million and represent the anticipated cash refunds or payments within 12 months. ​ Tax Law Changes: On December 28, 2021, the U.S. Treasury and the IRS released final regulations addressing various aspects of the foreign tax credit regime. The regulations apply to years beginning after December 28, 2021 and they are not expected to have a material impact on the Company’s financial statements.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 17 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 6.I.5.Q1) -URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 270 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(2)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
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