Exhibit 12.2
NEWMONT MINING CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Amounts in thousands except ratio)
(Unaudited)
Nine Months Ended September 30, 2002 | |||
Earnings: | |||
Income before income taxes | $ | 93,131 | |
Adjustments: | |||
Net interest expense (1) | 99,320 | ||
Amortization of capitalized interest | 6,777 | ||
Portion of rental expense representative of interest | 2,050 | ||
Undistributed income of affiliate | 34,024 | ||
Minority interest of majority-owned subsidiaries | 54,760 | ||
$ | 290,062 | ||
Fixed Charges: | |||
Net interest expense (1) | $ | 99,320 | |
Capitalized interest | 3,912 | ||
Portion of rental expense representative of interest | 2,050 | ||
$ | 105,282 | ||
Ratio of earnings to fixed charges | 2.8 | ||
(1) | Includes interest expense of majority-owned subsidiaries and amortization of debt issuance costs. |