EX-12.2 5 dex122.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Prepared by R.R. Donnelley Financial -- Computation of Ratio of Earnings to Fixed Charges
Exhibit 12.2
 
NEWMONT MINING CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Amounts in thousands except ratio)
(Unaudited)
 
      
Six Months Ended
June 30, 2002
Earnings:
         
Income before income taxes
     
$
73,185
Adjustments:
         
Net interest expense (1)
     
 
60,357
Amortization of capitalized interest
     
 
4,815
Portion of rental expense representative of interest
     
 
1,765
Undistributed loss of affiliate
     
 
17,391
Minority interest of majority owned subsidiaries
     
 
26,965
      
      
$
184,478
      
Fixed Charges:
         
Net interest expense (1)
     
$
60,357
Capitalized interest
     
 
2,294
Portion of rental expense representative of interest
     
 
1,765
      
      
$
64,416
      
Ratio of earnings to fixed charges
     
 
2.9
      
(1)
 
Includes interest expense of majority-owned subsidiaries and amortization of debt issuance costs.