EX-12 8 dex12.txt NEWMONT COMPUTATION OF RATIO OF EARNINGS Exhibit 12 Newmont Mining Corporation Computation of Ratio of Earnings to Fixed Charges (Amounts in thousands except ratio) (Unaudited)
For the Year Ended December 31, ------------------------------------------------------------------ 2001 2000 1999 1998 1997 ---- ---- ---- ---- ---- Earnings: Income (loss) before income taxes and cumulative effect of $ (109,077) $ (47,309) $ 18,839 $ (662,286) $ 44,677 changes in accounting principles Adjustments: Net interest expense (1) 86,415 94,567 77,654 96,618 90,967 Amortization of capitalized interest 7,362 8,793 4,886 4,435 3,221 Portion of rental expense representative of interest 2,747 2,936 2,914 4,361 3,849 Undistributed income (loss) of affiliate 32,981 (9,923) (91,627) (105,932) 200 Minority interest of majority owned subs 65,849 91,170 40,691 71,272 73,738 ---------- ---------- ----------- ---------- --------- $ 86,277 $ 140,234 $ 53,357 $ (591,532) $ 216,652 ========== ========== =========== ========== ========= Fixed Charges: Net interest expense (1) $ 86,415 $ 94,567 $ 77,654 96,618 $ 90,967 Capitalized interest 10,633 5,534 23,345 13,720 20,104 Portion of rental expense representative of interest 2,747 2,936 2,914 4,361 3,849 ---------- ---------- ----------- ---------- --------- $ 99,795 $ 103,037 $ 103,913 $ 114,699 $ 114,920 ========== ========== =========== ========== ========= Ratio of earnings to fixed charges 0.9 1.4 0.5 (5.2) 1.9
(1) Includes interest expense of majority-owned subsidiaries and amortization of debt issuance costs.