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 | |||
Earnings: | |||
Income before income taxes | $ | 73,185 | |
Adjustments: | |||
Net interest expense (1) | 60,357 | ||
Amortization of capitalized interest | 4,815 | ||
Portion of rental expense representative of interest | 1,765 | ||
Undistributed loss of affiliate | 17,391 | ||
Minority interest of majority owned subsidiaries | 26,965 | ||
$ | 184,478 | ||
Fixed Charges: | |||
Net interest expense (1) | $ | 60,357 | |
Capitalized interest | 2,294 | ||
Portion of rental expense representative of interest | 1,765 | ||
$ | 64,416 | ||
Ratio of earnings to fixed charges | 2.9 | ||
(1) | Includes interest expense of majority-owned subsidiaries and amortization of debt issuance costs. |