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, 2013 | ||||
Earnings: |
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Loss before income and mining tax and other items (1) |
$ | (2,085 | ) | |
Adjustments: |
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Fixed charges added to earnings |
143 | |||
Amortization of capitalized interest |
13 | |||
|
|
|||
$ | (1,929 | ) | ||
|
|
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Fixed Charges: |
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Net interest expense (2) |
$ | 135 | ||
Portion of rental expense representative of interest |
8 | |||
|
|
|||
Fixed charges added to earnings |
143 | |||
Capitalized interest |
60 | |||
|
|
|||
$ | 203 | |||
|
|
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Ratio of earnings to fixed charges |
(9.5 | ) | ||
(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. |