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 Restated | ||||
Earnings: | ||||
Loss before income taxes, net of minority interest in income of affiliates | $ | (14,715 | ) | |
Adjustments: | ||||
Net interest expense (1) |
| 31,137 |
| |
Amortization of capitalized interest |
| 2,208 |
| |
Portion of rental expense representative of interest |
| 627 |
| |
Undistributed income of affiliate |
| 1,404 |
| |
Preferred dividends paid in cash |
| (1,869 | ) | |
Minority interest in income of affiliates |
| 10,550 |
| |
$ | 29,342 |
| ||
Fixed Charges: | ||||
Net interest expense (1) | $ | 31,137 |
| |
Capitalized interest |
| 1,222 |
| |
Preferred dividends paid in cash |
| 1,869 |
| |
Portion of rental expense representative of interest |
| 627 |
| |
$ | 34,885 |
| ||
Ratio of earnings to fixed charges |
| 0.8 |
| |
(1) | Includes interest expense of majority-owned subsidiaries and amortization of debt issuance costs. |