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Exhibit 12.1
NEWMONT MINING CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Amounts in millions except ratio)
Nine Months Ended September 30, 2007 | |||
Earnings: | |||
Income from continuing operations before income tax expense(1) (2) | $ | 412 | |
Adjustments: | |||
Fixed charges added to earnings | 83 | ||
Dividends from equity affiliates | 1 | ||
Amortization of capitalized interest | 10 | ||
$ | 506 | ||
Fixed Charges: | |||
Net interest expense(3) | 77 | ||
Portion of rental expense representative of interest | 6 | ||
Fixed charges added to earnings | 83 | ||
Capitalized interest | 36 | ||
$ | 119 | ||
Ratio of earnings to fixed charges | 4.3 |
(1) | Income from continuing operations before income tax expense, minority interest and equity income of affiliates. |
(2) | Excludes interest on income tax liabilities. Interest and penalties related to income taxes are included inIncome tax expense. |
(3) | Includes interest expense of majority-owned subsidiaries and amortization of debt issuance costs. |