CONDENSED CONSOLIDATING FINANCIAL STATEMENTS | NOTE 23 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 September 30, 2017 (Issuer) (Guarantor) (Non-Guarantor) Newmont Newmont Mining Mining Newmont Other Corporation Condensed Consolidating Statement of Operation Corporation USA Subsidiaries Eliminations Consolidated Sales $ — $ 494 $ 1,385 $ — $ 1,879 Costs and expenses: Costs applicable to sales (1) — 318 735 — 1,053 Depreciation and amortization 1 94 232 — 327 Reclamation and remediation — 4 25 — 29 Exploration — 10 38 — 48 Advanced projects, research and development — 10 31 — 41 General and administrative — 18 40 — 58 Other expense, net — — 1 — 1 1 454 1,102 — 1,557 Other income (expense): Other income, net 11 2 (3) — 10 Interest income - intercompany 67 11 11 (89) — Interest expense - intercompany (11) — (78) 89 — Interest expense, net (51) (5) — — (56) 16 8 (70) — (46) Income (loss) before income and mining tax and other items 15 48 213 — 276 Income and mining tax benefit (expense) (5) (18) (49) — (72) Equity income (loss) of affiliates 196 (52) (3) (140) 1 Net income (loss) from continuing operations 206 (22) 161 (140) 205 Net income (loss) from discontinued operations — — (7) — (7) Net income (loss) 206 (22) 154 (140) 198 Net loss (income) attributable to noncontrolling interests: Continuing operations — — 8 — 8 Discontinued operations — — — — — — — 8 — 8 Net income (loss) attributable to Newmont stockholders $ 206 $ (22) $ 162 $ (140) $ 206 Comprehensive income (loss) $ 232 $ (14) $ 146 $ (140) $ 224 Comprehensive loss (income) attributable to noncontrolling interests — — 8 — 8 Comprehensive income (loss) attributable to Newmont stockholders $ 232 $ (14) $ 154 $ (140) $ 232 (1) Excludes Depreciation and amortization and Reclamation and remediation . Three Months Ended September 30, 2016 (Issuer) (Guarantor) (Non-Guarantor) Newmont Newmont Mining Mining Newmont Other Corporation Condensed Consolidating Statement of Operation Corporation USA Subsidiaries Eliminations Consolidated Sales $ — $ 537 $ 1,254 $ — $ 1,791 Costs and expenses: Costs applicable to sales (1) — 308 675 — 983 Depreciation and amortization 1 80 254 — 335 Reclamation and remediation — 3 22 — 25 Exploration — 10 29 — 39 Advanced projects, research and development — 4 30 — 34 General and administrative — 25 38 — 63 Other expense, net — 7 14 — 21 1 437 1,062 — 1,500 Other income (expense): Other income, net 2 5 (11) — (4) Interest income - intercompany 41 — 14 (55) — Interest expense - intercompany (13) — (42) 55 — Interest expense, net (61) (2) (1) — (64) (31) 3 (40) — (68) Income (loss) before income and mining tax and other items (32) 103 152 — 223 Income and mining tax benefit (expense) 11 (23) (78) — (90) Equity income (loss) of affiliates (338) (78) 2 416 2 Net income (loss) from continuing operations (359) 2 76 416 135 Net income (loss) from discontinued operations — — (448) — (448) Net income (loss) (359) 2 (372) 416 (313) Net loss (income) attributable to noncontrolling interests: Continuing operations — — 34 — 34 Discontinued operations — — (79) — (79) — — (45) — (45) Net income (loss) attributable to Newmont stockholders $ (359) $ 2 $ (417) $ 416 $ (358) Comprehensive income (loss) $ (319) $ 8 $ (340) $ 377 $ (274) Comprehensive loss (income) attributable to noncontrolling interests — — (45) — (45) Comprehensive income (loss) attributable to Newmont stockholders $ (319) $ 8 $ (385) $ 377 $ (319) (1) Excludes Depreciation and amortization and Reclamation and remediation . Nine Months Ended September 30, 2017 (Issuer) (Guarantor) (Non-Guarantor) Newmont Newmont Mining Mining Newmont Other Corporation Condensed Consolidating Statement of Operation Corporation USA Subsidiaries Eliminations Consolidated Sales $ — $ 1,414 $ 3,999 $ — $ 5,413 Costs and expenses: Costs applicable to sales (1) — 883 2,102 — 2,985 Depreciation and amortization 3 255 670 — 928 Reclamation and remediation — 11 92 — 103 Exploration — 32 103 — 135 Advanced projects, research and development — 13 86 — 99 General and administrative — 53 118 — 171 Other expense, net — 8 24 — 32 3 1,255 3,195 — 4,453 Other income (expense): Other income, net 37 5 (10) — 32 Interest income - intercompany 114 35 33 (182) — Interest expense - intercompany (33) (4) (145) 182 — Interest expense, net (172) (8) (7) — (187) (54) 28 (129) — (155) Income (loss) before income and mining tax and other items (57) 187 675 — 805 Income and mining tax benefit (expense) 20 (40) (329) — (349) Equity income (loss) of affiliates 466 (286) (17) (167) (4) Net income (loss) from continuing operations 429 (139) 329 (167) 452 Net income (loss) from discontinued operations — — (45) — (45) Net income (loss) 429 (139) 284 (167) 407 Net loss (income) attributable to noncontrolling interests: Continuing operations — — 22 — 22 Discontinued operations — — — — — — — 22 — 22 Net income (loss) attributable to Newmont stockholders $ 429 $ (139) $ 306 $ (167) $ 429 Comprehensive income (loss) $ 471 $ (124) $ 269 $ (167) $ 449 Comprehensive loss (income) attributable to noncontrolling interests — — 22 — 22 Comprehensive income (loss) attributable to Newmont stockholders $ 471 $ (124) $ 291 $ (167) $ 471 (1) Excludes Depreciation and amortization and Reclamation and remediation . Nine Months Ended September 30, 2016 (Issuer) (Guarantor) (Non-Guarantor) Newmont Newmont Mining Mining Newmont Other Corporation Condensed Consolidating Statement of Operation Corporation USA Subsidiaries Eliminations Consolidated Sales $ — $ 1,467 $ 3,455 $ — $ 4,922 Costs and expenses: Costs applicable to sales (1) — 898 1,838 — 2,736 Depreciation and amortization 3 240 649 — 892 Reclamation and remediation — 10 57 — 67 Exploration — 25 82 — 107 Advanced projects, research and development — 9 96 — 105 General and administrative — 65 113 — 178 Other expense, net — 21 33 — 54 3 1,268 2,868 — 4,139 Other income (expense): Other income, net 2 7 84 — 93 Interest income - intercompany 102 — 32 (134) — Interest expense - intercompany (31) — (103) 134 — Interest expense, net (196) (5) (3) — (204) (123) 2 10 — (111) Income (loss) before income and mining tax and other items (126) 201 597 — 672 Income and mining tax benefit (expense) 44 (42) (557) — (555) Equity income (loss) of affiliates (200) (525) 1 716 (8) Net income (loss) from continuing operations (282) (366) 41 716 109 Net income (loss) from discontinued operations — — (225) — (225) Net income (loss) (282) (366) (184) 716 (116) Net loss (income) attributable to noncontrolling interests: Continuing operations — — 62 — 62 Discontinued operations — — (229) — (229) — — (167) — (167) Net income (loss) attributable to Newmont stockholders $ (282) $ (366) $ (351) $ 716 $ (283) Comprehensive income (loss) $ (251) $ (341) $ (184) $ 692 $ (84) Comprehensive loss (income) attributable to noncontrolling interests — — (167) — (167) Comprehensive income (loss) attributable to Newmont stockholders $ (251) $ (341) $ (351) $ 692 $ (251) (1) Excludes Depreciation and amortization and Reclamation and remediation . Nine Months Ended September 30, 2017 (Issuer) (Guarantor) (Non-Guarantor) Newmont Newmont Mining Mining Newmont Other Corporation Condensed Consolidating Statement of Cash Flows Corporation USA Subsidiaries Eliminations Consolidated Operating activities: Net cash provided by (used in) operating activities of continuing operations $ (111) $ 375 $ 1,332 $ — $ 1,596 Net cash provided by (used in) operating activities of discontinued operations — — (12) — (12) Net cash provided by (used in) operating activities (111) 375 1,320 — 1,584 Investing activities: Additions to property, plant and mine development — (171) (386) — (557) Purchase of investments (109) — (4) — (113) Proceeds from sales of investments — — 34 — 34 Other — 2 7 — 9 Net cash provided by (used in) investing activities of continuing operations (109) (169) (349) — (627) Net cash provided by (used in) investing activities of discontinued operations — — — — — Net cash provided by (used in) investing activities (109) (169) (349) — (627) Financing activities: Repayment of debt (575) (2) (2) — (579) Distributions to noncontrolling interests — — (119) — (119) Dividends paid to common stockholders (94) — — — (94) Funding from noncontrolling interests — — 70 — 70 Payments for withholding of employee taxes related to stock-based compensation — (13) — — (13) Dividends paid to noncontrolling interests — — — — — Acquisition of noncontrolling interests — — — — — Net intercompany borrowings (repayments) 892 (192) (700) — — Other (3) — (10) — (13) Net cash provided by (used in) financing activities of continuing operations 220 (207) (761) — (748) Net cash provided by (used in) financing activities of discontinued operations — — — — — Net cash provided by (used in) financing activities 220 (207) (761) — (748) Effect of exchange rate changes on cash — — 4 — 4 Net change in cash and cash equivalents — (1) 214 — 213 Less net cash provided by (used in) Batu Hijau discontinued operations — — — — — — (1) 214 — 213 Cash and cash equivalents at beginning of period — 1 2,755 — 2,756 Cash and cash equivalents at end of period $ — $ — $ 2,969 $ — $ 2,969 Nine Months Ended September 30, 2016 (Issuer) (Guarantor) (Non-Guarantor) Newmont Newmont Mining Mining Newmont Other Corporation Condensed Consolidating Statement of Cash Flows Corporation USA Subsidiaries Eliminations Consolidated Operating activities: Net cash provided by (used in) operating activities of continuing operations $ 775 $ 459 $ 961 $ (862) $ 1,333 Net cash provided by (used in) operating activities of discontinued operations — — 826 — 826 Net cash provided by (used in) operating activities 775 459 1,787 (862) 2,159 Investing activities: Additions to property, plant and mine development — (182) (650) — (832) Purchases of investments — — — — — Proceeds from sales of investments — — 184 — 184 Other — — (13) — (13) Net cash provided by (used in) investing activities of continuing operations — (182) (479) — (661) Net cash provided by (used in) investing activities of discontinued operations — — (41) — (41) Net cash provided by (used in) investing activities — (182) (520) — (702) Financing activities: Repayment of debt (773) (2) (2) — (777) Distributions to noncontrolling interests — — — — — Dividends paid to common stockholders (41) (862) — 862 (41) Funding from noncontrolling interests — — 58 — 58 Payments for withholding of employee taxes related to stock-based compensation — (6) — — (6) Dividends paid to noncontrolling interests — — (146) — (146) Acquisition of noncontrolling interests — — (19) — (19) Net intercompany borrowings (repayments) 39 (587) 548 — — Other — — (1) — (1) Net cash provided by (used in) financing activities of continuing operations (775) (1,457) 438 862 (932) Net cash provided by (used in) financing activities of discontinued operations — — (319) — (319) Net cash provided by (used in) financing activities (775) (1,457) 119 862 (1,251) Effect of exchange rate changes on cash — — 4 — 4 Net change in cash and cash equivalents — (1,180) 1,390 — 210 Less net cash provided by (used in) Batu Hijau discontinued operations — — 474 — 474 — (1,180) 916 — (264) Cash and cash equivalents at beginning of period — 1,181 1,182 — 2,363 Cash and cash equivalents at end of period $ — $ 1 $ 2,098 $ — $ 2,099 At September 30, 2017 (Issuer) (Guarantor) (Non-Guarantor) Newmont Newmont Mining Mining Newmont Other Corporation Condensed Consolidating Balance Sheet Corporation USA Subsidiaries Eliminations Consolidated Assets: Cash and cash equivalents $ — $ — $ 2,969 $ — $ 2,969 Trade receivables — 22 109 — 131 Other accounts receivables — — 116 — Intercompany receivable 9,999 7,207 13,610 (30,816) — Investments — — 76 — 76 Inventories — 166 526 — 692 Stockpiles and ore on leach pads — 211 503 — 714 Other current assets — 36 74 — 110 Current assets 9,999 7,642 17,983 (30,816) 4,808 Property, plant and mine development, net 19 3,053 9,131 (30) 12,173 Investments 91 9 192 — 292 Investments in subsidiaries 12,686 193 — (12,879) — Stockpiles and ore on leach pads — 638 1,158 — 1,796 Deferred income tax assets 490 65 1,223 (490) 1,288 Non-current intercompany receivable 1,826 495 950 (3,271) — Other non-current assets — 224 255 — 479 Total assets $ 25,111 $ 12,319 $ 30,892 $ (47,486) $ 20,836 Liabilities: Debt $ — $ 1 $ 3 $ — $ 4 Accounts payable — 53 262 — 315 Intercompany payable 9,790 5,103 15,923 (30,816) — Employee-related benefits — 112 146 — 258 Income and mining taxes — 14 181 — 195 Other current liabilities 62 90 226 — 378 Current liabilities 9,852 5,373 16,741 (30,816) 1,150 Debt 4,040 2 4 — 4,046 Reclamation and remediation liabilities — 253 1,813 — 2,066 Deferred income tax liabilities — 95 1,001 (490) 606 Employee-related benefits — 220 160 — 380 Non-current intercompany payable 81 — 3,220 (3,301) — Other non-current liabilities — 20 337 — 357 Total liabilities 13,973 5,963 23,276 (34,607) 8,605 Equity: Newmont stockholders’ equity 11,138 6,356 6,523 (12,879) 11,138 Noncontrolling interests — — 1,093 — 1,093 Total equity 11,138 6,356 7,616 (12,879) 12,231 Total liabilities and equity $ 25,111 $ 12,319 $ 30,892 $ (47,486) $ 20,836 At December 31, 2016 (Issuer) (Guarantor) (Non-Guarantor) Newmont Newmont Mining Mining Newmont Other Corporation Condensed Consolidating Balance Sheet Corporation USA Subsidiaries Eliminations Consolidated Assets: Cash and cash equivalents $ — $ 1 $ 2,755 $ — $ 2,756 Trade receivables — 21 139 — 160 Other accounts receivables — 2 — 183 Intercompany receivable 7,255 6,065 11,347 (24,667) — Investments — — 56 — 56 Inventories — 155 462 — 617 Stockpiles and ore on leach pads — 224 539 — 763 Other current assets — 83 59 — 142 Current assets 7,255 6,551 15,538 (24,667) 4,677 Property, plant and mine development, net 20 3,144 9,355 (34) 12,485 Investments — 8 219 — 227 Investments in subsidiaries 13,222 537 — (13,759) — Stockpiles and ore on leach pads — 599 1,265 — 1,864 Deferred income tax assets 477 48 1,296 (490) 1,331 Non-current intercompany receivable 2,219 606 955 (3,780) — Other non-current assets — 224 223 — 447 Total assets $ 23,193 $ 11,717 $ 28,851 $ (42,730) $ 21,031 Liabilities: Debt $ 560 $ 3 $ 3 $ — $ 566 Accounts payable — 62 258 — 320 Intercompany payable 7,720 4,795 12,152 (24,667) — Employee-related benefits — 148 156 — 304 Income and mining taxes — 13 140 — 153 Other current liabilities 62 109 236 — 407 Current liabilities 8,342 5,130 12,945 (24,667) 1,750 Debt 4,038 4 7 — 4,049 Reclamation and remediation liabilities — 247 1,782 — 2,029 Deferred income tax liabilities 9 93 980 (490) 592 Employee-related benefits — 269 142 — 411 Non-current intercompany payable 83 — 3,731 (3,814) — Other non-current liabilities — 21 305 — 326 Total liabilities 12,472 5,764 19,892 (28,971) 9,157 Equity: Newmont stockholders’ equity 10,721 5,953 7,806 (13,759) 10,721 Noncontrolling interests — — 1,153 — 1,153 Total equity 10,721 5,953 8,959 (13,759) 11,874 Total liabilities and equity $ 23,193 $ 11,717 $ 28,851 $ (42,730) $ 21,031 |