EX-12.2 4 dex122.htm COMPUTATION OF RATIO OF EARNING TO FIXED CHARGES Computation of Ratio of Earning to Fixed Charges
Exhibit 12.2
 
NEWMONT MINING CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Amounts in thousands except ratio)
(Unaudited)
 
      
Nine Months Ended September 30, 2002
Earnings:
         
Income before income taxes
     
$
93,131
Adjustments:
         
Net interest expense (1)
     
 
99,320
Amortization of capitalized interest
     
 
6,777
Portion of rental expense representative of interest
     
 
2,050
Undistributed income of affiliate
     
 
34,024
Minority interest of majority-owned subsidiaries
     
 
54,760
      
      
$
290,062
      
Fixed Charges:
         
Net interest expense (1)
     
$
99,320
Capitalized interest
     
 
3,912
Portion of rental expense representative of interest
     
 
2,050
      
      
$
105,282
      
Ratio of earnings to fixed charges
     
 
2.8
      
(1)
 
Includes interest expense of majority-owned subsidiaries and amortization of debt issuance costs.