NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS

9 Months Ended

Sep. 30, 2015

NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS

NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS

NOTE 9 NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2015		2014		2015		2014
Minera Yanacocha	$	—	$	(6)	$	23	$	(55)
Batu Hijau		66		(125)		177		(158)
TMAC		—		(11)		(13)		(18)
Other		—		4		1		6
	$	66	$	(138)	$	188	$	(225)

Newmont has a 51.35% ownership interest in Minera Yanacocha S.R.L. (“Yanacocha”), with the remaining interests held by Compañia de Minas Buenaventura, S.A.A. (43.65%) and the International Finance Corporation (5%). Newmont consolidates Yanacocha due to a majority voting interest.

Newmont has a 48.5% effective economic interest in PT Newmont Nusa Tenggara (“PTNNT”) with remaining interests held by an affiliate of Sumitomo Corporation of Japan and various Indonesian entities. PTNNT operates the Batu Hijau copper and gold mine in Indonesia. Newmont consolidates Batu Hijau in its condensed consolidated financial statements as the primary beneficiary in the variable interest entity.

Newmont’s economic ownership interest in TMAC was reduced from 36.96% to 29.38%, due to TMAC’s financing events during the third quarter of 2015. The remaining interests are held by TMAC management and various outside investors. Upon deconsolidation, Newmont recognized a gain of $76 in Other income, net. Newmont’s retained investment in TMAC will be accounted for on the balance sheet as an equity method investment reflected in Note 16.

The following summarizes the assets and liabilities, inclusive of deferred tax assets and deferred tax liabilities, of our consolidated VIEs (including noncontrolling interests).


	At September 30, 2015				At December 31, 2014
	Total Assets		Total Liabilities		Total Assets		Total Liabilities
TMAC	$	—	$	—	$	38	$	17
Batu Hijau	$	3,505	$	1,166	$	3,150	$	1,155