EX-12.1 2 a12-1160_1ex12d1.htm EX-12.1

Exhibit 12.1

 

SOUTHERN COPPER CORPORATION

COMPUTATION OF FINANCIAL RATIOS

(In millions except ratios)

 

EARNINGS TO FIXED
CHARGES

 

2011

 

2010

 

2009

 

2008

 

2007

 

Earnings before tax,

 

$

3,448.7

 

$

2,430.8

 

$

1,404.4

 

$

2,093.8

 

$

3,411.9

 

Fixed charges

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

192.3

 

167.9

 

99.8

 

106.3

 

123.2

 

(Gain) loss on debt prepayment

 

1.4

 

—

 

—

 

—

 

16.6

 

Total fixed charges

 

193.7

 

167.9

 

99.8

 

106.3

 

139.8

 

 

 

 

 

 

 

 

 

 

 

 

 

Earning plus fixed charges

 

$

3,642.4

 

$

2,598.7

 

$

1,504.2

 

$

2,200.1

 

$

3,551.7

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings to fixed charges

 

18.8

 

15.5

 

15.1

 

20.7

 

25.4

 

 

NET DEBT TO NET
CAPITALIZATION

 

2011

 

2010

 

2009

 

2008

 

2007

 

Total debt

 

$

2,745.7

 

$

2,760.4

 

$

1,280.3

 

$

1,290.0

 

$

1,449.8

 

Cash and cash equivalent balance

 

(848.1

)

(2,192.7

)

(772.3

)

(716.7

)

(1,409.3

)

Net debt

 

1,897.6

 

567.7

 

508.0

 

573.3

 

40.5

 

 

 

 

 

 

 

 

 

 

 

 

 

Net capitalization

 

 

 

 

 

 

 

 

 

 

 

Net debt

 

1,897.6

 

567.7

 

508.0

 

573.3

 

40.5

 

Equity

 

4,036.3

 

3,910.4

 

3,893.7

 

3,395.4

 

3,864.8

 

Net capitalization

 

$

5,933.9

 

$

4,478.1

 

$

4,401.7

 

$

3,968.7

 

$

3,905.3

 

 

 

 

 

 

 

 

 

 

 

 

 

Net debt/net capitalization (*)

 

32.0

%

12.7

%

11.5

%

14.4

%

1.0

%

 

(*) Represents net debt divided by net capitalization