EX-12.1 7 d708626dex121.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)

 

     Three Months Ended  
     March 31, 2014  

Earnings:

   

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

    $ 143  

Adjustments:

   

Fixed charges added to earnings

      98  

Amortization of capitalized interest

      4  
  

 

 

  
   $ 245  
  

 

 

  

Fixed Charges:

   

Net interest expense (2)

    $ 93  

Portion of rental expense representative of interest

      5  
  

 

 

  

Fixed charges added to earnings

      98  

Capitalized interest

      5  
  

 

 

  
   $ 103  
  

 

 

  

Ratio of earnings to fixed charges

      2.4  
  

 

(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.