EX-12.1 2 dex121.htm COMPUTATION FO RATIO OF EARNINGS TO FIXED CHARGES Computation fo 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)

 

     Six Months Ended
June 30, 2006

Earnings:

   

Income from continuing operations before income tax expense(1)

    $ 759

Adjustments:

   

Fixed charges added to earnings

      45

Dividends from equity affiliates

      —

Amortization of capitalized interest

      7
      
   $ 811
      

Fixed Charges:

   

Net interest expense(2)

      43

Portion of rental expense representative of interest

      2
      

Fixed charges added to earnings

      45

Capitalized interest

      31
      
   $ 76
      

Ratio of earnings to fixed charges

      10.7
(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.