EX-12.1 7 c87899exv12w1.htm EXHIBIT 12.1 Exhibit 12.1
Exhibit 12.1
NEWMONT MINING CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Amounts in millions except ratio)
         
    Six Months Ended  
    June 30, 2009  
Earnings:
        
Income from continuing operations before income tax expense, equity loss of affiliates and noncontrolling interests in subsidiaries (1)
  $ 846  
Adjustments:
        
Fixed charges added to earnings
    60  
Dividends from equity affiliates
    2  
Amortization of capitalized interest
    10  
 
      
 
   $ 918  
 
      
Fixed Charges:
        
Net interest expense (2)
  $ 55  
Portion of rental expense representative of interest
     5  
 
      
Fixed charges added to earnings
    60  
Capitalized interest
    42  
 
      
 
   $ 102  
 
      
Ratio of earnings to fixed charges
    9.0  
 
     
(1)   Excludes interest on income tax liabilities. Interest and penalties related to income taxes are included in Income tax expense.
 
(2)   Includes interest expense of majority-owned subsidiaries and amortization of debt issuance costs.