EX-12.1 4 d338970dex121.htm EX-12.1 EX-12.1

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, 2012		  

Earnings:

  

Income before income and mining tax and other items (1)

    $ 1,036  

Adjustments:

  

Fixed charges added to earnings 

      58  

Dividends from equity affiliates 

      10  

Amortization of capitalized interest 

      6  
  

 

 

  
   $ 1,110  
  

 

 

  

Fixed Charges:

  

Net interest expense (2)

    $ 52  

Portion of rental expense representative of interest 

      6  
  

 

 

  

Fixed charges added to earnings 

      58  

Capitalized interest 

      24  
  

 

 

  
   $ 82  
  

 

 

  

Ratio of earnings to fixed charges 

      13.5  

 

 

(1) 

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

(2) 

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