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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, 2008 | |||
Earnings: | |||
Income from continuing operations before income tax expense(1) (2) | $ | 1,318 | |
Adjustments: | |||
Fixed charges added to earnings | 82 | ||
Dividends from equity affiliates | — | ||
Amortization of capitalized interest | 13 | ||
$ | 1,413 | ||
Fixed Charges: | |||
Net interest expense(3) | 73 | ||
Portion of rental expense representative of interest | 9 | ||
Fixed charges added to earnings | 82 | ||
Capitalized interest | 37 | ||
$ | 119 | ||
Ratio of earnings to fixed charges | 11.9 |
(1) | Income from continuing operations before income tax expense, minority interest and equity loss 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. |