XML 62 R17.htm IDEA: XBRL DOCUMENT
v3.24.0.1

WORKERS' PARTICIPATION | 12 Months Ended
--- | ---
Dec. 31, 2023
WORKERS' PARTICIPATION: |
WORKERS' PARTICIPATION | ​ NOTE 8—WORKERS’ PARTICIPATION: ​ The Company's operations in Peru and Mexico are subject to statutory workers' participation. In Peru, the provision for workers' participation is calculated at 8% of pre-tax earnings. The current portion of this participation, which is accrued during the year, is based on the Peruvian Branch's taxable income and is distributed to workers following determination of final results for the year. The annual amount payable to an individual worker is capped at the worker’s salary for an 18 month period. Amounts determined in excess of the 18 months of worker’s salary is no longer made as a payment to the worker and is levied first for the benefit of the “Fondo Nacional de Capacitacion Laboral y de Promocion del Empleo” (National Workers’ Training and Employment Promotion Fund) until this entity receives from all employers in its region an amount equivalent to 2,200 Peruvian taxable units (approximately $2.9 million in 2023). Any remaining excess is levied as payment for the benefit of the regional governments. These levies fund worker training, employment promotion, entrepreneurship and various other programs. ​ In Mexico, workers' participation is determined using the guidelines established in the Mexican income tax law at a rate of 10% of pre-tax earnings as adjusted by the tax law. In 2021, there was a change in the Ley Federal del Trabajo ("Federal Labor Law"), effective in 2022. Under this change, the amount payable to a worker cannot be higher than the maximum between the worker’s salary for a three-month period and the average of the participation received in the last three years. ​ The provision for workers’ participation is allocated to “Cost of sales (exclusive of depreciation, amortization and depletion)”. Workers’ participation expense for the three years ended December 31, 2023 was as follows (in millions): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |  | 2021
Current | ​ | $ | 265.0 | ​ | $ | 347.2 | ​ | $ | 344.5
Deferred | ​ |  | (11.8) | ​ |  | 29.1 | ​ |  | (72.8)
​ | ​ | $ | 253.2 | ​ | $ | 376.3 | ​ | $ | 271.7
​

X
- References No definition available. + Details
Name: | scco_WorkersParticipationDisclosureAbstract
Namespace Prefix: | scco_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition This element represents the complete disclosure related to Workers Participation, the provision for workers' participation is calculated on pre-tax earnings and using the guidelines established in the income tax law. + References No definition available. + Details
Name: | scco_WorkersParticipationDisclosureTextBlock
Namespace Prefix: | scco_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration