EX-12.1 2 a07-5714_1ex12d1.htm EX-12.1

Exhibit 12.1

SOUTHERN COPPER CORPORATION

COMPUTATION OF FINANCIAL RATIOS

(In millions except ratios)

EARNINGS TO FIXED CHARGES

 

 

 

2006

 

2005

 

2004

 

2003

 

2002

 

Earnings before tax, minority interest and cumulative effect of change in accounting principle

 

$

3,006.0

 

$

2,002.4

 

$

1,420.9

 

$

209.5

 

$

65.3

 

Fixed charges

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

113.4

 

108.9

 

106.5

 

117.0

 

128.7

 

(Gain) loss on debt prepayment

 

1.1

 

10.6

 

16.5

 

5.8

 

12.4

 

Total fixed charges

 

114.5

 

119.5

 

123.0

 

122.8

 

141.1

 

 

 

 

 

 

 

 

 

 

 

 

 

Earning plus fixed charges

 

$

3,120.5

 

$

2,121.9

 

$

1,543.9

 

$

332.3

 

$

206.4

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings to fixed charges

 

27.2

 

17.8

 

12.6

 

2.7

 

1.5

 

 

 

 

2006

 

2005

 

2004

 

2003

 

2002

 

Total debt

 

$

1,528.1

 

$

1,172.1

 

$

1,330.3

 

$

1,671.2

 

$

1,621.2

 

Cash and marketable securities balance

 

(1,302.8

)

(876.0

)

(756.0

)

(351.6

)

(175.1

)

Net debt (A)

 

225.3

 

296.1

 

574.3

 

1,319.6

 

1,446.1

 

 

 

 

 

 

 

 

 

 

 

 

 

Total capitalization

 

 

 

 

 

 

 

 

 

 

 

Net debt (A)

 

225.3

 

296.1

 

574.3

 

1,319.6

 

1,446.1

 

Stockholders’ equity

 

3,666.6

 

3,326.1

 

2,813.6

 

2,022.7

 

1,881.5

 

Total B

 

$

3,891.9

 

$

3,622.2

 

$

3,387.9

 

$

3,342.3

 

$

3,327.6

 

 

 

 

 

 

 

 

 

 

 

 

 

Net debt/total capitalization

 

5.8

%

8.2

%

17.0

%

39.5

%

43.5

%