CONDENSED CONSOLIDATING FINANCIAL STATEMENTS | 6 Months Ended |
Jun. 30, 2014 |
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | ' |
CONDENSED CONSOLIDATING FINANCIAL STATEMENTS | ' |
|
NOTE 25 CONDENSED CONSOLIDATING FINANCIAL STATEMENTS |
|
The following Condensed Consolidating Financial Statements are presented to satisfy disclosure requirements of Rule 3-10(e) of Regulation S-X resulting from the inclusion of Newmont USA Limited (“Newmont USA”), a wholly-owned subsidiary of Newmont, as a co-registrant with Newmont on debt securities issued under a shelf registration statement on Form S-3 filed under the Securities Act of 1933 under which securities of Newmont (including debt securities guaranteed by Newmont USA) may be issued (the “Shelf Registration Statement”). In accordance with Rule 3-10(e) of Regulation S-X, Newmont USA, as the subsidiary guarantor, is 100% owned by Newmont, the guarantees are full and unconditional, and no other subsidiary of Newmont guaranteed any security issued under the Shelf Registration Statement. There are no restrictions on the ability of Newmont or Newmont USA to obtain funds from its subsidiaries by dividend or loan. |
|
|
| | | | | | | | | | | | | | | | | | | | |
| | Three Months Ended June 30, 2014 | |
| | | | | | | | | | | | | | Newmont | |
| | Newmont | | | | | | | | | | | | Mining | |
| | Mining | | | Newmont | | | Other | | | | | | Corporation | |
Condensed Consolidating Statement of Operation | | Corporation | | | USA | | | Subsidiaries | | | Eliminations | | | Consolidated | |
Sales | | $ | — | | | $ | 485 | | | $ | 1,280 | | | $ | — | | | $ | 1,765 | |
Costs and expenses | | | | | | | | | | | | | | | | | | | | |
Costs applicable to sales (1) | | | — | | | | 304 | | | | 756 | | | | — | | | | 1,060 | |
Depreciation and amortization | | | 1 | | | | 71 | | | | 234 | | | | — | | | | 306 | |
Reclamation and remediation | | | — | | | | 3 | | | | 18 | | | | — | | | | 21 | |
Exploration | | | — | | | | 5 | | | | 36 | | | | — | | | | 41 | |
Advanced projects, research and development | | | — | | | | 10 | | | | 32 | | | | — | | | | 42 | |
General and administrative | | | — | | | | 27 | | | | 21 | | | | — | | | | 48 | |
Write-downs | | | — | | | | — | | | | 13 | | | | — | | | | 13 | |
Other expense, net | | | — | | | | 9 | | | | 42 | | | | — | | | | 51 | |
| | | | | | | | | | | | | | | | | | | | |
| | | 1 | | | | 429 | | | | 1,152 | | | | — | | | | 1,582 | |
| | | | | | | | | | | | | | | | | | | | |
Other income (expense) | | | | | | | | | | | | | | | | | | | | |
Other income, net | | | (3 | ) | | | (2 | ) | | | 8 | | | | — | | | | 3 | |
Interest income—intercompany | | | 30 | | | | — | | | | 3 | | | | (33 | ) | | | — | |
Interest expense—intercompany | | | (3 | ) | | | — | | | | (30 | ) | | | 33 | | | | — | |
Interest expense, net | | | (83 | ) | | | (1 | ) | | | (10 | ) | | | — | | | | (94 | ) |
| | | | | | | | | | | | | | | | | | | | |
| | | (59 | ) | | | (3 | ) | | | (29 | ) | | | — | | | | (91 | ) |
| | | | | | | | | | | | | | | | | | | | |
Income (loss) before income and mining tax and other items | | | (60 | ) | | | 53 | | | | 99 | | | | — | | | | 92 | |
Income and mining tax benefit (expense) | | | 11 | | | | (8 | ) | | | 50 | | | | — | | | | 53 | |
Equity income (loss) of affiliates | | | 229 | | | | 58 | | | | 23 | | | | (308 | ) | | | 2 | |
| | | | | | | | | | | | | | | | | | | | |
Income (loss) from continuing operations | | | 180 | | | | 103 | | | | 172 | | | | (308 | ) | | | 147 | |
Income (loss) from discontinued operations | | | — | | | | — | | | | (2 | ) | | | — | | | | (2 | ) |
| | | | | | | | | | | | | | | | | | | | |
Net income (loss) | | | 180 | | | | 103 | | | | 170 | | | | (308 | ) | | | 145 | |
Net loss (income) attributable to noncontrolling interests | | | — | | | | — | | | | 23 | | | | 12 | | | | 35 | |
| | | | | | | | | | | | | | | | | | | | |
Net income (loss) attributable to Newmont stockholders | | $ | 180 | | | $ | 103 | | | $ | 193 | | | $ | (296 | ) | | $ | 180 | |
| | | | | | | | | | | | | | | | | | | | |
Comprehensive income (loss) | | $ | 143 | | | $ | 112 | | | $ | 145 | | | $ | (290 | ) | | $ | 110 | |
Comprehensive loss (income) attributable to noncontrolling interests | | | — | | | | — | | | | 24 | | | | 9 | | | | 33 | |
| | | | | | | | | | | | | | | | | | | | |
Comprehensive income (loss) attributable to Newmont stockholders | | $ | 143 | | | $ | 112 | | | $ | 169 | | | $ | (281 | ) | | $ | 143 | |
| | | | | | | | | | | | | | | | | | | | |
|
|
(1) | Excludes Depreciation and amortization and Reclamation and remediation. | | | | | | | | | | | | | | | | | | | |
|
|
| | | | | | | | | | | | | | | | | | | | |
| | Three Months Ended June 30, 2013 | |
| | | | | | | | | | | | | | Newmont | |
| | Newmont | | | | | | | | | | | | Mining | |
| | Mining | | | Newmont | | | Other | | | | | | Corporation | |
Condensed Consolidating Statement of Operation | | Corporation | | | USA | | | Subsidiaries | | | Eliminations | | | Consolidated | |
Sales | | $ | — | | | $ | 541 | | | $ | 1,477 | | | $ | — | | | $ | 2,018 | |
Costs and expenses | | | | | | | | | | | | | | | | | | | | |
Costs applicable to sales (1) | | | — | | | | 271 | | | | 1,411 | | | | — | | | | 1,682 | |
Depreciation and amortization | | | — | | | | 48 | | | | 367 | | | | — | | | | 415 | |
Reclamation and remediation | | | — | | | | 2 | | | | 16 | | | | — | | | | 18 | |
Exploration | | | — | | | | 17 | | | | 59 | | | | — | | | | 76 | |
Advanced projects, research and development | | | — | | | | 10 | | | | 36 | | | | — | | | | 46 | |
General and administrative | | | — | | | | 24 | | | | 30 | | | | — | | | | 54 | |
Write-downs | | | — | | | | — | | | | 2,261 | | | | — | | | | 2,261 | |
Other expense, net | | | — | | | | 15 | | | | 62 | | | | — | | | | 77 | |
| | | | | | | | | | | | | | | | | | | | |
| | | — | | | | 387 | | | | 4,242 | | | | — | | | | 4,629 | |
| | | | | | | | | | | | | | | | | | | | |
Other income (expense) | | | | | | | | | | | | | | | | | | | | |
Other income, net | | | 2 | | | | 6 | | | | 42 | | | | — | | | | 50 | |
Interest income—intercompany | | | 34 | | | | 8 | | | | 5 | | | | (47 | ) | | | — | |
Interest expense—intercompany | | | (3 | ) | | | — | | | | (44 | ) | | | 47 | | | | — | |
Interest expense, net | | | (68 | ) | | | (4 | ) | | | 2 | | | | — | | | | (70 | ) |
| | | | | | | | | | | | | | | | | | | | |
| | | (35 | ) | | | 10 | | | | 5 | | | | — | | | | (20 | ) |
| | | | | | | | | | | | | | | | | | | | |
Income (loss) before income and mining tax and other items | | | (35 | ) | | | 164 | | | | (2,760 | ) | | | — | | | | (2,631 | ) |
Income and mining tax benefit (expense) | | | 12 | | | | (71 | ) | | | 346 | | | | — | | | | 287 | |
Equity income (loss) of affiliates | | | (2,036 | ) | | | (505 | ) | | | (172 | ) | | | 2,710 | | | | (3 | ) |
| | | | | | | | | | | | | | | | | | | | |
Income (loss) from continuing operations | | | (2,059 | ) | | | (412 | ) | | | (2,586 | ) | | | 2,710 | | | | (2,347 | ) |
Income (loss) from discontinued operations | | | — | | | | — | | | | 74 | | | | — | | | | 74 | |
| | | | | | | | | | | | | | | | | | | | |
Net income (loss) | | | (2,059 | ) | | | (412 | ) | | | (2,512 | ) | | | 2,710 | | | | (2,273 | ) |
Net loss (income) attributable to noncontrolling interests | | | — | | | | — | | | | 328 | | | | (114 | ) | | | 214 | |
| | | | | | | | | | | | | | | | | | | | |
Net income (loss) attributable to Newmont stockholders | | $ | (2,059 | ) | | $ | (412 | ) | | $ | (2,184 | ) | | $ | 2,596 | | | $ | (2,059 | ) |
| | | | | | | | | | | | | | | | | | | | |
Comprehensive income (loss) | | $ | (2,559 | ) | | $ | (424 | ) | | $ | (3,062 | ) | | $ | 3,272 | | | $ | (2,773 | ) |
Comprehensive loss (income) attributable to noncontrolling interests | | | — | | | | — | | | | 328 | | | | (115 | ) | | | 213 | |
| | | | | | | | | | | | | | | | | | | | |
Comprehensive income (loss) attributable to Newmont stockholders | | $ | (2,559 | ) | | $ | (424 | ) | | $ | (2,734 | ) | | $ | 3,157 | | | $ | (2,560 | ) |
| | | | | | | | | | | | | | | | | | | | |
|
|
(1) | Excludes Depreciation and amortization and Reclamation and remediation. | | | | | | | | | | | | | | | | | | | |
|
|
| | | | | | | | | | | | | | | | | | | | |
| | Six Months Ended June 30, 2014 | |
| | | | | | | | | | | Newmont | |
| | Newmont | | | | | | | | | Mining | |
| | Mining | | | Newmont | | | Other | | | | | | Corporation | |
Condensed Consolidating Statement of Operation | | Corporation | | | USA | | | Subsidiaries | | | Eliminations | | | Consolidated | |
Sales | | $ | — | | | $ | 985 | | | $ | 2,544 | | | $ | — | | | $ | 3,529 | |
Costs and expenses | | | | | | | | | | | | | | | | | | | | |
Costs applicable to sales (1) | | | — | | | | 602 | | | | 1,541 | | | | — | | | | 2,143 | |
Depreciation and amortization | | | 2 | | | | 125 | | | | 477 | | | | — | | | | 604 | |
Reclamation and remediation | | | — | | | | 5 | | | | 36 | | | | — | | | | 41 | |
Exploration | | | — | | | | 9 | | | | 66 | | | | — | | | | 75 | |
Advanced projects, research and development | | | — | | | | 21 | | | | 63 | | | | — | | | | 84 | |
General and administrative | | | — | | | | 46 | | | | 47 | | | | — | | | | 93 | |
Write-downs | | | — | | | | — | | | | 13 | | | | — | | | | 13 | |
Other expense, net | | | — | | | | 15 | | | | 88 | | | | — | | | | 103 | |
| | | | | | | | | | | | | | | | | | | | |
| | | 2 | | | | 823 | | | | 2,331 | | | | — | | | | 3,156 | |
| | | | | | | | | | | | | | | | | | | | |
Other income (expense) | | | | | | | | | | | | | | | | | | | | |
Other income, net | | | (4 | ) | | | 58 | | | | (5 | ) | | | — | | | | 49 | |
Interest income—intercompany | | | 60 | | | | — | | | | 5 | | | | (65 | ) | | | — | |
Interest expense—intercompany | | | (5 | ) | | | — | | | | (60 | ) | | | 65 | | | | — | |
Interest expense, net | | | (165 | ) | | | (2 | ) | | | (20 | ) | | | — | | | | (187 | ) |
| | | | | | | | | | | | | | | | | | | | |
| | | (114 | ) | | | 56 | | | | (80 | ) | | | — | | | | (138 | ) |
| | | | | | | | | | | | | | | | | | | | |
Income (loss) before income and mining tax and other items | | | (116 | ) | | | 218 | | | | 133 | | | | — | | | | 235 | |
Income and mining tax benefit (expense) | | | 40 | | | | (46 | ) | | | (19 | ) | | | — | | | | (25 | ) |
Equity income (loss) of affiliates | | | 356 | | | | (93 | ) | | | 6 | | | | (267 | ) | | | 2 | |
| | | | | | | | | | | | | | | | | | | | |
Income (loss) from continuing operations | | | 280 | | | | 79 | | | | 120 | | | | (267 | ) | | | 212 | |
Income (loss) from discontinued operations | | | — | | | | — | | | | (19 | ) | | | — | | | | (19 | ) |
| | | | | | | | | | | | | | | | | | | | |
Net income (loss) | | | 280 | | | | 79 | | | | 101 | | | | (267 | ) | | | 193 | |
Net loss (income) attributable to noncontrolling interests | | | — | | | | — | | | | 89 | | | | (2 | ) | | | 87 | |
| | | | | | | | | | | | | | | | | | | | |
Net income (loss) attributable to Newmont stockholders | | $ | 280 | | | $ | 79 | | | $ | 190 | | | $ | (269 | ) | | $ | 280 | |
| | | | | | | | | | | | | | | | | | | | |
Comprehensive income (loss) | | $ | 220 | | | $ | 90 | | | $ | 61 | | | $ | (238 | ) | | $ | 133 | |
Comprehensive loss (income) attributable to noncontrolling interests | | | — | | | | — | | | | 89 | | | | (2 | ) | | | 87 | |
| | | | | | | | | | | | | | | | | | | | |
Comprehensive income (loss) attributable to Newmont stockholders | | $ | 220 | | | $ | 90 | | | $ | 150 | | | $ | (240 | ) | | $ | 220 | |
| | | | | | | | | | | | | | | | | | | | |
|
|
(1) | Excludes Depreciation and amortization and Reclamation and remediation. | | | | | | | | | | | | | | | | | | | |
|
|
| | | | | | | | | | | | | | | | | | | | |
| | Six Months Ended June 30, 2013 | |
| | | | | | | | | | | | | | Newmont | |
| | Newmont | | | | | | | | | | | | Mining | |
| | Mining | | | Newmont | | | Other | | | | | | Corporation | |
Condensed Consolidating Statement of Operation | | Corporation | | | USA | | | Subsidiaries | | | Eliminations | | | Consolidated | |
Sales | | $ | — | | | $ | 1,084 | | | $ | 3,122 | | | $ | — | | | $ | 4,206 | |
Costs and expenses | | | | | | | | | | | | | | | | | | | | |
Costs applicable to sales (1) | | | — | | | | 532 | | | | 2,207 | | | | — | | | | 2,739 | |
Depreciation and amortization | | | — | | | | 96 | | | | 586 | | | | — | | | | 682 | |
Reclamation and remediation | | | — | | | | 4 | | | | 32 | | | | — | | | | 36 | |
Exploration | | | — | | | | 28 | | | | 107 | | | | — | | | | 135 | |
Advanced projects, research and development | | | — | | | | 23 | | | | 75 | | | | — | | | | 98 | |
General and administrative | | | — | | | | 54 | | | | 56 | | | | — | | | | 110 | |
Write-downs | | | — | | | | — | | | | 2,262 | | | | — | | | | 2,262 | |
Other expense, net | | | — | | | | 30 | | | | 146 | | | | — | | | | 176 | |
| | | | | | | | | | | | | | | | | | | | |
| | | — | | | | 767 | | | | 5,471 | | | | — | | | | 6,238 | |
| | | | | | | | | | | | | | | | | | | | |
Other income (expense) | | | | | | | | | | | | | | | | | | | | |
Other income, net | | | 2 | | | | 9 | | | | 65 | | | | — | | | | 76 | |
Interest income—intercompany | | | 82 | | | | 15 | | | | 10 | | | | (107 | ) | | | — | |
Interest expense—intercompany | | | (6 | ) | | | — | | | | (101 | ) | | | 107 | | | | — | |
Interest expense, net | | | (133 | ) | | | (6 | ) | | | 4 | | | | — | | | | (135 | ) |
| | | | | | | | | | | | | | | | | | | | |
| | | (55 | ) | | | 18 | | | | (22 | ) | | | — | | | | (59 | ) |
| | | | | | | | | | | | | | | | | | | | |
Income (loss) before income and mining tax and other items | | | (55 | ) | | | 335 | | | | (2,371 | ) | | | — | | | | (2,091 | ) |
Income and mining tax benefit (expense) | | | 19 | | | | (121 | ) | | | 209 | | | | — | | | | 107 | |
Equity income (loss) of affiliates | | | (1,709 | ) | | | (391 | ) | | | (129 | ) | | | 2,222 | | | | (7 | ) |
| | | | | | | | | | | | | | | | | | | | |
Income (loss) from continuing operations | | | (1,745 | ) | | | (177 | ) | | | (2,291 | ) | | | 2,222 | | | | (1,991 | ) |
Income (loss) from discontinued operations | | | — | | | | — | | | | 74 | | | | — | | | | 74 | |
| | | | | | | | | | | | | | | | | | | | |
Net income (loss) | | | (1,745 | ) | | | (177 | ) | | | (2,217 | ) | | | 2,222 | | | | (1,917 | ) |
Net loss (income) attributable to noncontrolling interests | | | — | | | | — | | | | 262 | | | | (90 | ) | | | 172 | |
| | | | | | | | | | | | | | | | | | | | |
Net income (loss) attributable to Newmont stockholders | | $ | (1,745 | ) | | $ | (177 | ) | | $ | (1,955 | ) | | $ | 2,132 | | | $ | (1,745 | ) |
| | | | | | | | | | | | | | | | | | | | |
Comprehensive income (loss) | | $ | (2,306 | ) | | $ | (185 | ) | | $ | (2,874 | ) | | $ | 2,886 | | | $ | (2,479 | ) |
Comprehensive loss (income) attributable to noncontrolling interests | | | — | | | | — | | | | 262 | | | | (90 | ) | | | 172 | |
| | | | | | | | | | | | | | | | | | | | |
Comprehensive income (loss) attributable to Newmont stockholders | | $ | (2,306 | ) | | $ | (185 | ) | | $ | (2,612 | ) | | $ | 2,796 | | | $ | (2,307 | ) |
| | | | | | | | | | | | | | | | | | | | |
|
|
(1) | Excludes Depreciation and amortization and Reclamation and remediation. | | | | | | | | | | | | | | | | | | | |
|
|
| | | | | | | | | | | | | | | | | | | | |
| | Six Months Ended June 30, 2014 | |
| | | | | | | | | | | | | | Newmont | |
| | Newmont | | | | | | | | | | | | Mining | |
| | Mining | | | Newmont | | | Other | | | | | | Corporation | |
Condensed Consolidating Statement of Cash Flows | | Corporation | | | USA | | | Subsidiaries | | | Eliminations | | | Consolidated | |
Operating activities: | | | | | | | | | | | | | | | | | | | | |
Net income (loss) | | $ | 280 | | | $ | 79 | | | $ | 101 | | | $ | (267 | ) | | $ | 193 | |
Adjustments | | | (343 | ) | | | 356 | | | | 534 | | | | 274 | | | | 821 | |
Net change in operating assets and liabilities | | | (39 | ) | | | (22 | ) | | | (392 | ) | | | — | | | | (453 | ) |
| | | | | | | | | | | | | | | | | | | | |
Net cash provided from (used in) continuing operations | | | (102 | ) | | | 413 | | | | 243 | | | | 7 | | | | 561 | |
Net cash used in discontinued operations | | | — | | | | — | | | | (6 | ) | | | — | | | | (6 | ) |
| | | | | | | | | | | | | | | | | | | | |
Net cash provided from (used in) operations | | | (102 | ) | | | 413 | | | | 237 | | | | 7 | | | | 555 | |
| | | | | | | | | | | | | | | | | | | | |
Investing activities: | | | | | | | | | | | | | | | | | | | | |
Additions to property, plant and mine development | | | — | | | | (172 | ) | | | (317 | ) | | | — | | | | (489 | ) |
Acquisitions, net | | | — | | | | — | | | | (28 | ) | | | — | | | | (28 | ) |
Sale of marketable securities | | | 25 | | | | — | | | | — | | | | — | | | | 25 | |
Purchases of marketable securities | | | — | | | | — | | | | (1 | ) | | | — | | | | (1 | ) |
Proceeds from sale of other assets | | | — | | | | 3 | | | | 73 | | | | — | | | | 76 | |
Other | | | — | | | | — | | | | (11 | ) | | | — | | | | (11 | ) |
| | | | | | | | | | | | | | | | | | | | |
Net cash provided from (used in) investing activities | | | 25 | | | | (169 | ) | | | (284 | ) | | | — | | | | (428 | ) |
| | | | | | | | | | | | | | | | | | | | |
Financing activities: | | | | | | | | | | | | | | | | | | | | |
Proceeds from debt, net | | | (7 | ) | | | — | | | | 25 | | | | — | | | | 18 | |
Repayment of debt | | | — | | | | — | | | | (5 | ) | | | — | | | | (5 | ) |
Net intercompany borrowings (repayments) | | | 173 | | | | (116 | ) | | | (52 | ) | | | (5 | ) | | | — | |
Sale of noncontrolling interests | | | — | | | | — | | | | 68 | | | | — | | | | 68 | |
Acquisition of noncontrolling interests | | | — | | | | — | | | | (4 | ) | | | — | | | | (4 | ) |
Dividends paid to noncontrolling interests | | | — | | | | — | | | | (9 | ) | | | 5 | | | | (4 | ) |
Dividends paid to common stockholders | | | (89 | ) | | | — | | | | 7 | | | | (7 | ) | | | (89 | ) |
Other | | | — | | | | — | | | | (11 | ) | | | — | | | | (11 | ) |
| | | | | | | | | | | | | | | | | | | | |
Net cash provided from (used in) financing activities | | | 77 | | | | (116 | ) | | | 19 | | | | (7 | ) | | | (27 | ) |
| | | | | | | | | | | | | | | | | | | | |
Effect of exchange rate changes on cash | | | — | | | | — | | | | (2 | ) | | | — | | | | (2 | ) |
| | | | | | | | | | | | | | | | | | | | |
Net change in cash and cash equivalents | | | — | | | | 128 | | | | (30 | ) | | | — | | | | 98 | |
Cash and cash equivalents at beginning of period | | | — | | | | 428 | | | | 1,127 | | | | — | | | | 1,555 | |
| | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents at end of period | | $ | — | | | $ | 556 | | | $ | 1,097 | | | $ | — | | | $ | 1,653 | |
| | | | | | | | | | | | | | | | | | | | |
|
|
| | | | | | | | | | | | | | | | | | | | |
| | Six Months Ended June 30, 2013 | |
| | | | | | | | | | | | | | Newmont | |
| | Newmont | | | | | | | | | | | | Mining | |
| | Mining | | | Newmont | | | Other | | | | | | Corporation | |
Condensed Consolidating Statement of Cash Flows | | Corporation | | | USA | | | Subsidiaries | | | Eliminations | | | Consolidated | |
Operating activities: | | | | | | | | | | | | | | | | | | | | |
Net income (loss) | | $ | (1,745 | ) | | $ | (177 | ) | | $ | (2,217 | ) | | $ | 2,222 | | | $ | (1,917 | ) |
Adjustments | | | 1,774 | | | | 536 | | | | 3,022 | | | | (2,226 | ) | | | 3,106 | |
Net change in operating assets and liabilities | | | (16 | ) | | | (251 | ) | | | (190 | ) | | | — | | | | (457 | ) |
| | | | | | | | | | | | | | | | | | | | |
Net cash provided from (used in) continuing operations | | | 13 | | | | 108 | | | | 615 | | | | (4 | ) | | | 732 | |
Net cash used in discontinued operations | | | — | | | | — | | | | (11 | ) | | | — | | | | (11 | ) |
| | | | | | | | | | | | | | | | | | | | |
Net cash provided from (used in) operations | | | 13 | | | | 108 | | | | 604 | | | | (4 | ) | | | 721 | |
| | | | | | | | | | | | | | | | | | | | |
Investing activities: | | | | | | | | | | | | | | | | | | | | |
Additions to property, plant and mine development | | | — | | | | (230 | ) | | | (890 | ) | | | — | | | | (1,120 | ) |
Acquisitions, net | | | — | | | | — | | | | (13 | ) | | | — | | | | (13 | ) |
Sale of marketable securities | | | — | | | | — | | | | 1 | | | | — | | | | 1 | |
Purchases of marketable securities | | | — | | | | — | | | | (1 | ) | | | — | | | | (1 | ) |
Proceeds from sale of other assets | | | — | | | | — | | | | 49 | | | | — | | | | 49 | |
Other | | | — | | | | — | | | | (21 | ) | | | — | | | | (21 | ) |
| | | | | | | | | | | | | | | | | | | | |
Net cash used in investing activities | | | — | | | | (230 | ) | | | (875 | ) | | | — | | | | (1,105 | ) |
| | | | | | | | | | | | | | | | | | | | |
Financing activities: | | | | | | | | | | | | | | | | | | | | |
Proceeds from debt, net | | | 739 | | | | — | | | | 248 | | | | — | | | | 987 | |
Repayment of debt | | | (429 | ) | | | — | | | | (105 | ) | | | — | | | | (534 | ) |
Net intercompany borrowings (repayments) | | | 60 | | | | (215 | ) | | | 158 | | | | (3 | ) | | | — | |
Proceeds from stock issuance, net | | | 2 | | | | — | | | | — | | | | — | | | | 2 | |
Sale of noncontrolling interests | | | — | | | | — | | | | 32 | | | | — | | | | 32 | |
Acquisition of noncontrolling interests | | | — | | | | — | | | | (10 | ) | | | — | | | | (10 | ) |
Dividends paid to noncontrolling interests | | | — | | | | — | | | | (5 | ) | | | 3 | | | | (2 | ) |
Dividends paid to common stockholders | | | (385 | ) | | | — | | | | (4 | ) | | | 4 | | | | (385 | ) |
Other | | | — | | | | — | | | | (3 | ) | | | — | | | | (3 | ) |
| | | | | | | | | | | | | | | | | | | | |
Net cash provided from (used in) financing activities | | | (13 | ) | | | (215 | ) | | | 311 | | | | 4 | | | | 87 | |
| | | | | | | | | | | | | | | | | | | | |
Effect of exchange rate changes on cash | | | — | | | | — | | | | (16 | ) | | | — | | | | (16 | ) |
| | | | | | | | | | | | | | | | | | | | |
Net change in cash and cash equivalents | | | — | | | | (337 | ) | | | 24 | | | | — | | | | (313 | ) |
Cash and cash equivalents at beginning of period | | | — | | | | 342 | | | | 1,219 | | | | — | | | | 1,561 | |
| | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents at end of period | | $ | — | | | $ | 5 | | | $ | 1,243 | | | $ | — | | | $ | 1,248 | |
| | | | | | | | | | | | | | | | | | | | |
|
|
| | | | | | | | | | | | | | | | | | | | |
| | At June 30, 2014 | |
| | | | | | | | | | | | | | Newmont | |
| | Newmont | | | | | | | | | | | | Mining | |
| | Mining | | | Newmont | | | Other | | | | | | Corporation | |
Condensed Consolidating Balance Sheet | | Corporation | | | USA | | | Subsidiaries | | | Eliminations | | | Consolidated | |
Assets | | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents | | $ | — | | | $ | 556 | | | $ | 1,097 | | | $ | — | | | $ | 1,653 | |
Trade receivables | | | — | | | | 52 | | | | 95 | | | | — | | | | 147 | |
Accounts receivable | | | — | | | | 7 | | | | 292 | | | | — | | | | 299 | |
Intercompany receivable | | | 3,095 | | | | 6,100 | | | | 5,613 | | | | (14,808 | ) | | | — | |
Investments | | | — | | | | 1 | | | | 83 | | | | — | | | | 84 | |
Inventories | | | — | | | | 146 | | | | 717 | | | | — | | | | 863 | |
Stockpiles and ore on leach pads | | | — | | | | 378 | | | | 397 | | | | — | | | | 775 | |
Deferred income tax assets | | | 4 | | | | 155 | | | | 128 | | | | — | | | | 287 | |
Other current assets | | | — | | | | 81 | | | | 1,165 | | | | — | | | | 1,246 | |
| | | | | | | | | | | | | | | | | | | | |
Current assets | | | 3,099 | | | | 7,476 | | | | 9,587 | | | | (14,808 | ) | | | 5,354 | |
Property, plant and mine development, net | | | 30 | | | | 3,062 | | | | 10,994 | | | | (43 | ) | | | 14,043 | |
Investments | | | — | | | | 13 | | | | 334 | | | | — | | | | 347 | |
Investments in subsidiaries | | | 14,396 | | | | 4,275 | | | | 2,876 | | | | (21,547 | ) | | | — | |
Stockpiles and ore on leach pads | | | — | | | | 453 | | | | 2,320 | | | | — | | | | 2,773 | |
Deferred income tax assets | | | 728 | | | | 435 | | | | 938 | | | | (490 | ) | | | 1,611 | |
Long-term intercompany receivable | | | 2,153 | | | | 62 | | | | 408 | | | | (2,623 | ) | | | — | |
Other long-term assets | | | 47 | | | | 209 | | | | 592 | | | | — | | | | 848 | |
| | | | | | | | | | | | | | | | | | | | |
Total assets | | $ | 20,453 | | | $ | 15,985 | | | $ | 28,049 | | | $ | (39,511 | ) | | $ | 24,976 | |
| | | | | | | | | | | | | | | | | | | | |
Liabilities | | | | | | | | | | | | | | | | | | | | |
Debt | | $ | — | | | $ | 1 | | | $ | 111 | | | $ | — | | | $ | 112 | |
Accounts payable | | | — | | | | 64 | | | | 371 | | | | — | | | | 435 | |
Intercompany payable | | | 3,768 | | | | 4,647 | | | | 6,393 | | | | (14,808 | ) | | | — | |
Employee-related benefits | | | — | | | | 94 | | | | 138 | | | | — | | | | 232 | |
Income and mining taxes | | | — | | | | 1 | | | | 51 | | | | — | | | | 52 | |
Other current liabilities | | | 72 | | | | 119 | | | | 1,230 | | | | — | | | | 1,421 | |
| | | | | | | | | | | | | | | | | | | | |
Current liabilities | | | 3,840 | | | | 4,926 | | | | 8,294 | | | | (14,808 | ) | | | 2,252 | |
Debt | | | 6,141 | | | | 6 | | | | 526 | | | | — | | | | 6,673 | |
Reclamation and remediation liabilities | | | — | | | | 179 | | | | 1,352 | | | | — | | | | 1,531 | |
Deferred income tax liabilities | | | — | | | | 25 | | | | 1,195 | | | | (490 | ) | | | 730 | |
Employee-related benefits | | | 5 | | | | 177 | | | | 163 | | | | — | | | | 345 | |
Long-term intercompany payable | | | 236 | | | | — | | | | 2,430 | | | | (2,666 | ) | | | — | |
Other long-term liabilities | | | — | | | | 53 | | | | 301 | | | | — | | | | 354 | |
| | | | | | | | | | | | | | | | | | | | |
Total liabilities | | | 10,222 | | | | 5,366 | | | | 14,261 | | | | (17,964 | ) | | | 11,885 | |
| | | | | | | | | | | | | | | | | | | | |
Equity | | | | | | | | | | | | | | | | | | | | |
Newmont stockholders’ equity | | | 10,231 | | | | 10,619 | | | | 9,211 | | | | (19,830 | ) | | | 10,231 | |
Noncontrolling interests | | | — | | | | — | | | | 4,577 | | | | (1,717 | ) | | | 2,860 | |
| | | | | | | | | | | | | | | | | | | | |
Total equity | | | 10,231 | | | | 10,619 | | | | 13,788 | | | | (21,547 | ) | | | 13,091 | |
| | | | | | | | | | | | | | | | | | | | |
Total liabilities and equity | | $ | 20,453 | | | $ | 15,985 | | | $ | 28,049 | | | $ | (39,511 | ) | | $ | 24,976 | |
| | | | | | | | | | | | | | | | | | | | |
|
|
| | | | | | | | | | | | | | | | | | | | |
| | At December 31, 2013 | |
| | | | | | | | | | | | | | Newmont | |
| | Newmont | | | | | | | | | | | | Mining | |
| | Mining | | | Newmont | | | Other | | | | | | Corporation | |
Condensed Consolidating Balance Sheet | | Corporation | | | USA | | | Subsidiaries | | | Eliminations | | | Consolidated | |
Assets | | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents | | $ | — | | | $ | 428 | | | $ | 1,127 | | | $ | — | | | $ | 1,555 | |
Trade receivables | | | — | | | | 21 | | | | 209 | | | | — | | | | 230 | |
Accounts receivable | | | — | | | | 23 | | | | 229 | | | | — | | | | 252 | |
Intercompany receivable | | | 1,400 | | | | 6,089 | | | | 5,672 | | | | (13,161 | ) | | | — | |
Investments | | | 22 | | | | 1 | | | | 55 | | | | — | | | | 78 | |
Inventories | | | — | | | | 146 | | | | 571 | | | | — | | | | 717 | |
Stockpiles and ore on leach pads | | | — | | | | 358 | | | | 447 | | | | — | | | | 805 | |
Deferred income tax assets | | | 3 | | | | 157 | | | | 86 | | | | — | | | | 246 | |
Other current assets | | | — | | | | 73 | | | | 933 | | | | — | | | | 1,006 | |
| | | | | | | | | | | | | | | | | | | | |
Current assets | | | 1,425 | | | | 7,296 | | | | 9,329 | | | | (13,161 | ) | | | 4,889 | |
Property, plant and mine development, net | | | 32 | | | | 3,026 | | | | 11,263 | | | | (44 | ) | | | 14,277 | |
Investments | | | — | | | | 7 | | | | 432 | | | | — | | | | 439 | |
Investments in subsidiaries | | | 13,982 | | | | 5,158 | | | | 2,807 | | | | (21,947 | ) | | | — | |
Stockpiles and ore on leach pads | | | — | | | | 512 | | | | 2,168 | | | | — | | | | 2,680 | |
Deferred income tax assets | | | 694 | | | | 466 | | | | 844 | | | | (526 | ) | | | 1,478 | |
Long-term intercompany receivable | | | 3,204 | | | | 62 | | | | 367 | | | | (3,633 | ) | | | — | |
Other long-term assets | | | 46 | | | | 223 | | | | 575 | | | | — | | | | 844 | |
| | | | | | | | | | | | | | | | | | | | |
Total assets | | $ | 19,383 | | | $ | 16,750 | | | $ | 27,785 | | | $ | (39,311 | ) | | $ | 24,607 | |
| | | | | | | | | | | | | | | | | | | | |
Liabilities | | | | | | | | | | | | | | | | | | | | |
Debt | | $ | 561 | | | $ | 1 | | | $ | 33 | | | $ | — | | | $ | 595 | |
Accounts payable | | | — | | | | 80 | | | | 398 | | | | — | | | | 478 | |
Intercompany payable | | | 3,092 | | | | 5,404 | | | | 4,665 | | | | (13,161 | ) | | | — | |
Employee-related benefits | | | — | | | | 175 | | | | 166 | | | | — | | | | 341 | |
Income and mining taxes | | | — | | | | — | | | | 13 | | | | — | | | | 13 | |
Other current liabilities | | | 71 | | | | 161 | | | | 1,081 | | | | — | | | | 1,313 | |
| | | | | | | | | | | | | | | | | | | | |
Current liabilities | | | 3,724 | | | | 5,821 | | | | 6,356 | | | | (13,161 | ) | | | 2,740 | |
Debt | | | 5,556 | | | | 7 | | | | 582 | | | | — | | | | 6,145 | |
Reclamation and remediation liabilities | | | — | | | | 176 | | | | 1,337 | | | | — | | | | 1,513 | |
Deferred income tax liabilities | | | — | | | | 23 | | | | 1,138 | | | | (526 | ) | | | 635 | |
Employee-related benefits | | | 5 | | | | 169 | | | | 149 | | | | — | | | | 323 | |
Long-term intercompany payable | | | 196 | | | | — | | | | 3,481 | | | | (3,677 | ) | | | — | |
Other long-term liabilities | | | — | | | | 20 | | | | 322 | | | | — | | | | 342 | |
| | | | | | | | | | | | | | | | | | | | |
Total liabilities | | | 9,481 | | | | 6,216 | | | | 13,365 | | | | (17,364 | ) | | | 11,698 | |
| | | | | | | | | | | | | | | | | | | | |
Equity | | | | | | | | | | | | | | | | | | | | |
Newmont stockholders’ equity | | | 9,902 | | | | 10,534 | | | | 9,816 | | | | (20,259 | ) | | | 9,993 | |
Noncontrolling interests | | | — | | | | — | | | | 4,604 | | | | (1,688 | ) | | | 2,916 | |
| | | | | | | | | | | | | | | | | | | | |
Total equity | | | 9,902 | | | | 10,534 | | | | 14,420 | | | | (21,947 | ) | | | 12,909 | |
| | | | | | | | | | | | | | | | | | | | |
Total liabilities and equity | | $ | 19,383 | | | $ | 16,750 | | | $ | 27,785 | | | $ | (39,311 | ) | | $ | 24,607 | |