Exhibit 12.1
NEWMONT MINING CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS
(Amounts in thousands except ratio)
(Unaudited)
Three Months Ended March 31, 2002 | ||||
As Revised | ||||
Earnings: | ||||
Loss before income taxes | $ | (4,472 | ) | |
Adjustments: | ||||
Net interest expense (1) | 28,224 | |||
Amortization of capitalized interest | 2,208 | |||
Portion of rental expense representative of interest | 627 | |||
Undistributed income of affiliate | 516 | |||
Preferred dividends | (1,869 | ) | ||
Minority interest of majority owned subsidiaries | 10,643 | |||
$ | 35,877 | |||
Fixed Charges: | ||||
Net interest expense (1) | $ | 28,224 | ||
Capitalized interest | 1,222 | |||
Preferred dividends | 1,869 | |||
Portion of rental expense representative of interest | 627 | |||
$ | 31,942 | |||
Ratio of earnings to fixed charges | 1.1 | |||
(1) Includes interest expense of majority-owned subsidiaries and amortization of debt issuance costs.