EX-12.1 3 dex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Prepared by R.R. Donnelley Financial -- Computation of Ratio of Earnings to Fixed Charges
Exhibit 12.1
 
NEWMONT MINING CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS
(Amounts in thousands except ratio)
(Unaudited)
 
      
Three Months Ended
March 31, 2002
  
Earnings:
           
Loss before income taxes
     
$
(6,731
)
Adjustments:
           
Net interest expense (1)
     
 
27,376
 
Amortization of capitalized interest
     
 
2,208
 
Portion of rental expense representative of interest
     
 
627
 
Undistributed loss of affiliate
     
 
(1,173
)
Preferred dividends
     
 
(2,875
)
Minority interest of majority owned subsidiaries
     
 
12,505
 
      
      
$
31,937
 
      
Fixed Charges:
           
Net interest expense (1)
     
$
27,376
 
Capitalized interest
     
 
1,222
 
Preferred dividends
     
 
2,875
 
Portion of rental expense representative of interest
     
 
627
 
      
      
$
32,100
 
      
Ratio of earnings to fixed charges
     
 
1.0
 
      
(1)
 
Includes interest expense of majority-owned subsidiaries and amortization of debt issuance costs.