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FAIR VALUE MEASUREMENT: (Tables)
6 Months Ended
Jun. 30, 2020
FAIR VALUE MEASUREMENT:  
Schedule of carrying amount and estimated fair values of the Company's financial instruments

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At June 30, 2020

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At December 31, 2019

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Carrying Value

    

Fair Value

    

Carrying Value

    

Fair Value

Liabilities:

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Long-term debt level 1

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6,192.1

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7,798.3

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6,190.6

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7,675.3

Long-term debt level 2

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350.5

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381.8

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750.2

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776.1

Total long-term debt

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$

6,542.6

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$

8,180.1

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$

6,940.8

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$

8,451.4

Schedule of fair values of assets and liabilities measured at fair value on a recurring basis

Fair values of assets and liabilities measured at fair value on a recurring basis were calculated as follows as of June 30, 2020 and December 31, 2019 (in millions):

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Fair Value at Measurement Date Using:

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Significant

    

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Fair Value

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Quoted prices in

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other

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Significant

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as of

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active markets for

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observable

​

unobservable

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June 30, 

​

identical assets

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inputs

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inputs

Description

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2020

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(Level 1)

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(Level 2)

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(Level 3)

Assets:

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​

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​

​

​

​

​

​

​

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Short term investment:

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—Trading securities

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$

30.1

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$

30.1

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$

—

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$

—

—Available-for-sale debt securities:

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​

​

​

​

​

​

​

​

​

​

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Corporate bonds

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—

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​

—

​

​

—

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—

Asset backed securities

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0.3

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—

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0.3

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—

Mortgage backed securities

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0.3

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—

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0.3

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—

Accounts receivable:

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​

​

​

​

​

​

​

​

​

​

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—Embedded derivatives—Not classified as hedges:

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​

​

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Provisionally priced sales:

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​

​

​

​

​

​

​

​

​

​

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Copper

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309.0

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309.0

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—

​

​

—

Molybdenum

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132.9

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132.9

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—

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​

—

Total

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$

472.6

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$

472.0

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$

0.6

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$

—

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Fair Value at Measurement Date Using:

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Significant

    

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Fair Value

​

Quoted prices in

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other

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Significant

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as of

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active markets for

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observable

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unobservable

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​

December 31, 

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identical assets

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inputs

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inputs

Description

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2019

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(Level 1)

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(Level 2)

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(Level 3)

Assets:

​

​

​

​

​

​

​

​

​

​

​

​

Short term investment:

​

​

​

​

​

​

​

​

​

​

​

​

—Trading securities

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$

80.0

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$

80.0

​

$

—

​

$

—

—Available-for-sale debt securities:

​

​

​

​

​

​

​

​

​

​

​

​

Corporate bonds

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—

​

​

—

​

​

—

​

​

—

Asset backed securities

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0.4

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​

—

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0.4

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​

—

Mortgage backed securities

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0.3

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—

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​

0.3

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—

Accounts receivable:

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​

​

​

​

​

​

​

​

​

​

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—Embedded derivatives-Not classified as hedges:

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​

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​

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Provisionally priced sales:

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​

​

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​

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​

​

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Copper

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326.5

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326.5

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—

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—

Molybdenum

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126.8

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126.8

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—

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—

Total

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$

534.0

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$

533.3

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$

0.7

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$

—