Exhibit 12.2
NEWMONT MINING CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Amounts in thousands except ratio)
(Unaudited)
Six Months Ended June 30, 2002 | |||
As Restated | |||
Earnings: | |||
Loss before income taxes, net of minority interest in income of subsidiaries | $ | 66,776 | |
Adjustments: | |||
Net interest expense (1) |
| 66,238 | |
Amortization of capitalized interest |
| 4,815 | |
Portion of rental expense representative of interest |
| 1,765 | |
Undistributed income of affiliate |
| 18,724 | |
Minority interest in income of subsidiaries |
| 29,834 | |
$ | 188,152 | ||
Fixed Charges: | |||
Net interest expense (1) | $ | 66,238 | |
Capitalized interest |
| 2,294 | |
Portion of rental expense representative of interest |
| 1,765 | |
$ | 70,297 | ||
Ratio of earnings to fixed charges |
| 2.7 | |
(1) | Includes interest expense of majority-owned subsidiaries and amortization of debt issuance costs. |