Exhibit 12.2
NEWMONT MINING CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Amounts in thousands except ratio)
(Unaudited)
Three Months Ended March 31, 2002 | ||||
Earnings: | ||||
Loss before income taxes | $ | (6,731 | ) | |
Adjustments: | ||||
Net interest expense (1) | 27,376 | |||
Amortization of capitalized interest | 2,208 | |||
Portion of rental expense representative of interest | 627 | |||
Undistributed loss of affiliate | (1,173 | ) | ||
Minority interest of majority owned subsidiaries | 12,505 | |||
$ | 34,812 | |||
Fixed Charges: | ||||
Net interest expense (1) | $ | 27,376 | ||
Capitalized interest | 1,222 | |||
Portion of rental expense representative of interest | 627 | |||
$ | 29,225 | |||
Ratio of earnings to fixed charges | 1.2 | |||
(1) | Includes interest expense of majority-owned subsidiaries and amortization of debt issuance costs. |