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INCOME TAXES : (Tables)
9 Months Ended
Sep. 30, 2015
INCOME TAXES:  
Schedule of income tax provision and effective income tax rate

 

The income tax provision and the effective income tax rate for the nine months of 2015 and 2014 consisted of ($ in millions):

 

 

 

2015

 

2014

 

Statutory income tax provision

 

$

366.8 

 

$

505.5 

 

Peruvian royalty

 

3.0 

 

6.6 

 

Mexican royalty

 

22.8 

 

64.9 

 

Peruvian special mining tax

 

19.0 

 

28.3 

 

 

 

 

 

 

 

Income tax provision

 

$

411.6 

 

$

605.3 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Effective income tax rate

 

38.1 

%

38.4 

%

 

Summary of income tax rate and dividend tax rate due to change in enacted tax law

 

Year

 

Income Tax Rate

 

Dividend Tax Rate

 

2015- 2016

 

28 

%

6.8 

%

2017- 2018

 

27 

%

8.0 

%

2019 and later

 

26 

%

9.3 

%