EX-12.1 4 dex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

NEWMONT MINING CORPORATION AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Amounts in millions except ratio)

 

     Three Months Ended
March 31, 2006

Earnings:

   

Income from continuing operations before income tax expense (1)

    $ 350

Adjustments:

   

Fixed charges added to earnings

      21

Dividends from equity affiliates

      —  

Amortization of capitalized interest

      3
      
   $ 374
      

Fixed Charges:

   

Net interest expense(2)

      20

Portion of rental expense representative of interest

      1
      

Fixed charges added to earnings

      21

Capitalized interest

      15
      
   $ 36
      

Ratio of earnings to fixed charges

      10.4
(1) Income from continuing operations before income tax expense, minority interest and equity income of affiliates.

 

(2) Includes interest expense of majority-owned subsidiaries and amortization of debt issuance costs.