EX-12.1 5 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,
2007

Earnings:

   

Income from continuing operations before income tax expense (1) (2)

    $ 186

Adjustments:

   

Fixed charges added to earnings

      25

Dividends from equity affiliates

      1

Amortization of capitalized interest

      3
      
   $ 215
      

Fixed Charges:

   

Net interest expense (3)

      23

Portion of rental expense representative of interest

      2
      

Fixed charges added to earnings

      25

Capitalized interest

      12
      
   $ 37
      

Ratio of earnings to fixed charges

      5.8

(1)

  

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

(2)

  

Excludes interest on income tax liabilities. Interest and penalties related to income taxes are included in Income tax expense.

(3)

  

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