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STOCKHOLDERS' EQUITY: (Tables)
12 Months Ended
Dec. 31, 2013
Share based compensation plan  
Schedule of activity in treasury stock

Activity in treasury stock in the years 2013 and 2012 was as follows (in millions):

 

 

 

2013

 

2012

 

Southern Copper common shares

 

 

 

 

 

Balance as of January 1,

 

$

729.8

 

$

734.1

 

Purchase of shares

 

281.4

 

147.3

 

Stock dividend distribution

 

 

(151.4

)

Used for corporate purposes

 

(0.2

)

(0.2

)

Balance as of December 31,

 

1,011.0

 

729.8

 

 

 

 

 

 

 

Parent Company (Grupo Mexico) common shares

 

 

 

 

 

Balance as of January 1,

 

189.0

 

163.7

 

Other activity, including dividend, interest and currency translation effect

 

16.6

 

25.3

 

Balance as of December 31,

 

205.6

 

189.0

 

 

 

 

 

 

 

Treasury stock balance as of December 31,

 

$

1,216.6

 

$

918.8

 

 

Schedule of share repurchase program activity

 

 

Period

 

Total Number
of Shares

 

Average
Price

Paid per

 

Total Number of
Shares Purchased
as Part of Publicly

 

Maximum
Number of
Shares that May
Yet Be
Purchased
Under the Plan

 

Total Cost
($ in

 

From

 

To

 

Purchased

 

Share

 

Announced Plan

 

@ $28.71 (*)

 

millions)

 

2008:

 

 

 

28,510,150

 

$

13.49

 

28,510,150

 

 

 

$

384.7

 

2009:

 

 

 

4,912,000

 

14.64

 

33,422,150

 

 

 

71.9

 

2010:

 

 

 

15,600

 

29.69

 

33,437,750

 

 

 

0.5

 

2011:

 

 

 

9,034,400

 

30.29

 

42,472,150

 

 

 

273.7

 

2012:

 

 

 

4,442,336

 

33.17

 

46,914,486

 

 

 

147.3

 

2013:

 

 

 

 

 

 

 

 

 

 

 

 

 

04/01/13

 

04/30/13

 

1,500

 

32.96

 

46,915,986

 

 

 

0.1

 

05/01/13

 

05/31/13

 

807,100

 

32.33

 

47,723,086

 

 

 

26.1

 

06/01/13

 

06/30/13

 

1,350,000

 

29.05

 

49,073,086

 

 

 

39.2

 

Total second quarter

 

2,158,600

 

30.28

 

 

 

 

 

65.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

07/01/13

 

07/31/13

 

1,300,000

 

27.60

 

50,373,086

 

 

 

35.9

 

08/01/13

 

08/31/13

 

641,400

 

26.68

 

51,014,486

 

 

 

17.1

 

09/01/13

 

09/30/13

 

204,012

 

27.65

 

51,218,498

 

 

 

5.6

 

Total third quarter

 

2,145,412

 

27.33

 

 

 

 

 

58.6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

10/01/13

 

10/31/13

 

1,552,100

 

27.68

 

52,770,598

 

 

 

42.9

 

11/01/13

 

11/30/13

 

2,446,490

 

26.49

 

55,217,088

 

 

 

64.8

 

12/01/13

 

12/31/13

 

1,942,398

 

25.58

 

57,159,486

 

 

 

49.7

 

Total fourth quarter 2013

 

5,940,988

 

26.50

 

 

 

 

 

157.4

 

 

 

 

 

 

 

 

 

 

 

 

 

Total purchased

 

57,159,486

 

$

20.29

 

 

 

29,275,745

 

$

1,159.5

 

 

(*) NYSE closing price of SCC common shares at December 31, 2013

 

Schedule of activity in Directors' Stock Award Plan

 

 

 

 

2013

 

2012

 

Total SCC shares reserved for the plan

 

600,000

 

600,000

 

 

 

 

 

 

 

Total shares granted at January 1,

 

(285,600

)

(271,200

)

Granted in the period

 

(12,000

)

(14,400

)

Total shares granted at December 31,

 

(297,600

)

(285,600

)

 

 

 

 

 

 

Remaining shares reserved

 

302,400

 

314,400

 

 

Employee Stock Purchase Plan
 
Share based compensation plan  
Schedule of stock based compensation expense and unrecognized compensation expense

 

 

 

 

2013

 

2012

 

2011

 

Stock based compensation expense

 

$

2.1

 

$

2.1

 

$

2.1

 

Unrecognized compensation expense

 

$

2.1

 

$

4.2

 

$

6.3

 

 

Schedule of stock award activity of the Employee Stock Purchase Plan

 

 

 

 

Shares

 

Unit Weighted Average
Grant Date Fair Value

 

Outstanding shares at January 1, 2013

 

6,955,572

 

$

1.16

 

Granted

 

 

 

Exercised

 

(2,474,814

)

1.16

 

Forfeited

 

(31,159

)

1.16

 

Outstanding shares at December 31, 2013

 

4,449,599

 

1.16

 

 

 

 

 

 

 

Outstanding shares at January 1, 2012

 

7,270,341

 

1.16

 

Granted

 

 

 

Exercised

 

(220,430

)

1.16

 

Forfeited

 

(94,339

)

1.16

 

Outstanding shares at December 31, 2012

 

6,955,572

 

$

1.16

 

 

New Employee Stock Purchase Plan
 
Share based compensation plan  
Schedule of stock based compensation expense and unrecognized compensation expense

 

 

 

 

2013

 

2012

 

2011

 

Stock based compensation expense

 

$

0.6

 

$

0.6

 

$

0.6

 

Unrecognized compensation expense

 

$

2.6

 

$

3.2

 

$

3.8

 

 

Schedule of stock award activity of the Employee Stock Purchase Plan

 

 

 

 

Shares

 

Unit Weighted Average
Grant Date Fair Value

 

Outstanding shares at January 1, 2013

 

2,944,742

 

$

2.05

 

Granted

 

226,613

 

2.05

 

Exercised

 

(38,098

)

2.05

 

Forfeited

 

(120,793

)

2.05

 

Outstanding shares at December 31, 2013

 

3,012,464

 

2.05

 

 

 

 

 

 

 

Outstanding shares at January 1, 2012

 

3,807,146

 

2.05

 

Granted

 

 

 

Exercised

 

(772,850

)

2.05

 

Forfeited

 

(89,554

)

2.05

 

Outstanding shares at December 31, 2012

 

2,944,742

 

$

2.05