EX-12 2 nem-ex12_201409307.htm 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, 2014

 

Earnings:

 

 

 

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

$

260

 

Adjustments:

 

 

 

Fixed charges added to earnings

 

290

 

Amortization of capitalized interest

 

14

 

 

$

564

 

Fixed Charges:

 

 

 

Net interest expense (2)

$

276

 

Portion of rental expense representative of interest

 

14

 

Fixed charges added to earnings

 

290

 

Capitalized interest

 

14

 

 

$

304

 

Ratio of earnings to fixed charges

 

1.9

 

 

(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.