EX-12.1 6 d382685dex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

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, 2012		  

Earnings:

  

Income before income and mining tax and other items (1)

    $ 1,593  

Adjustments:

  

Fixed charges added to earnings 

      133  

Dividends from equity affiliates 

      10  

Amortization of capitalized interest 

      14  
  

 

 

  
   $ 1,750  
  

 

 

  

Fixed Charges:

  

Net interest expense (2)

    $ 123  

Portion of rental expense representative of interest 

      10  
  

 

 

  

Fixed charges added to earnings 

      133  

Capitalized interest 

      48  
  

 

 

  
   $ 181  
  

 

 

  

Ratio of earnings to fixed charges 

      9.7  

 

(1) 

Excludes interest on income tax liabilities. Interest and penalties related to income taxes are included in Income and mining tax expense.

(2) 

Includes interest expense of majority-owned subsidiaries and amortization of debt issuance costs.