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 | |||
As Restated | |||
Earnings: | |||
Income before income taxes, net of minority interest in income of subsidiaries | $ | 79,849 | |
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 |
| 37,167 | |
Minority interest in income of subsidiaries |
| 62,329 | |
$ | 287,492 | ||
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 |
| 2.7 | |
(1) | Includes interest expense of majority-owned subsidiaries and amortization of debt issuance costs. |