EX-12.1 2 d431562dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

NEWMONT MINING CORPORATION AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Amounts in millions, except ratio)

 

      Nine Months Ended
September 30, 2012		  

Earnings:

  

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

    $ 2,310  

Adjustments:

  

Fixed charges added to earnings 

      207  

Dividends from equity affiliates 

      10  

Amortization of capitalized interest 

      20  
  

 

 

  
   $ 2,547  
  

 

 

  

Fixed Charges:

  

Net interest expense (2)

    $ 190  

Portion of rental expense representative of interest 

      17  
  

 

 

  

Fixed charges added to earnings 

      207  

Capitalized interest 

      77  
  

 

 

  
   $ 284  
  

 

 

  
     9.0  

Ratio of earnings to fixed charges

   
  

 

(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.