CONDENSED CONSOLIDATING FINANCIAL STATEMENTS | NOTE 28 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. Year Ended December 31, 2017 (Issuer) (Guarantor) (Non-Guarantor) Newmont Newmont Mining Mining Newmont Other Corporation Condensed Consolidating Statement of Operation Corporation USA Subsidiaries Eliminations Consolidated Sales $ — $ 1,934 $ 5,414 $ — $ 7,348 Costs and expenses: Costs applicable to sales (1) — 1,190 2,848 — 4,038 Depreciation and amortization 4 351 894 — 1,249 Reclamation and remediation — 49 128 — 177 Exploration — 43 136 — 179 Advanced projects, research and development — 21 122 — 143 General and administrative — 80 157 — 237 Impairment of long-lived assets — — 14 — 14 Other expense, net — 12 20 — 32 4 1,746 4,319 — 6,069 Other income (expense): Other income, net 41 6 7 — 54 Interest income - intercompany 149 43 41 (233) — Interest expense - intercompany (39) (4) (190) 233 — Interest expense, net (222) (7) (12) — (241) (71) 38 (154) — (187) Income (loss) before income and mining tax and other items (75) 226 941 — 1,092 Income and mining tax benefit (expense) (34) (21) (1,070) — (1,125) Equity income (loss) of affiliates 11 (124) (16) 113 (16) Net income (loss) from continuing operations (98) 81 (145) 113 (49) Net income (loss) from discontinued operations — — (38) — (38) Net income (loss) (98) 81 (183) 113 (87) Net loss (income) attributable to noncontrolling interests: Continuing operations — — (11) — (11) Discontinued operations — — — — — — — (11) — (11) Net income (loss) attributable to Newmont stockholders $ (98) $ 81 $ (194) $ 113 $ (98) Comprehensive income (loss) $ (56) $ 92 $ (194) $ 113 $ (45) Comprehensive loss (income) attributable to noncontrolling interests — — (11) — (11) Comprehensive income (loss) attributable to Newmont stockholders $ (56) $ 92 $ (205) $ 113 $ (56) (1) Excludes Depreciation and amortization and Reclamation and remediation . Year Ended December 31, 2016 (Issuer) (Guarantor) (Non-Guarantor) Newmont Newmont Mining Mining Newmont Other Corporation Condensed Consolidating Statement of Operation Corporation USA Subsidiaries Eliminations Consolidated Sales $ — $ 1,972 $ 4,739 $ — $ 6,711 Costs and expenses: Costs applicable to sales (1) — 1,227 2,545 — 3,772 Depreciation and amortization 4 335 881 — 1,220 Reclamation and remediation — 24 155 — 179 Exploration — 35 113 — 148 Advanced projects, research and development — 11 123 — 134 General and administrative — 90 143 — 233 Impairment of long-lived assets — 1 976 — 977 Other expense, net — 30 28 — 58 4 1,753 4,964 — 6,721 Other income (expense): Other income, net (69) 14 124 — 69 Interest income - intercompany 132 — 46 (178) — Interest expense - intercompany (45) — (133) 178 — Interest expense, net (254) (6) (13) — (273) (236) 8 24 — (204) Income (loss) before income and mining tax and other items (240) 227 (201) — (214) Income and mining tax benefit (expense) 232 (55) (740) — (563) Equity income (loss) of affiliates (619) (1,344) 411 1,539 (13) Net income (loss) from continuing operations (627) (1,172) (530) 1,539 (790) Net income (loss) from discontinued operations — — (133) — (133) Net income (loss) (627) (1,172) (663) 1,539 (923) Net loss (income) attributable to noncontrolling interests: Continuing operations — — 570 — 570 Discontinued operations — — (274) — (274) — — 296 — 296 Net income (loss) attributable to Newmont stockholders $ (627) $ (1,172) $ (367) $ 1,539 $ (627) Comprehensive income (loss) $ (627) $ (1,170) $ (665) $ 1,539 $ (923) Comprehensive loss (income) attributable to noncontrolling interests — — 296 — 296 Comprehensive income (loss) attributable to Newmont stockholders $ (627) $ (1,170) $ (369) $ 1,539 $ (627) (1) Excludes Depreciation and amortization and Reclamation and remediation . Year Ended December 31, 2015 (Issuer) (Guarantor) (Non-Guarantor) Newmont Newmont Mining Mining Newmont Other Corporation Condensed Consolidating Statement of Operation Corporation USA Subsidiaries Eliminations Consolidated Sales $ — $ 1,829 $ 4,256 $ — $ 6,085 Costs and expenses: Costs applicable to sales (1) — 1,225 2,353 — 3,578 Depreciation and amortization 4 319 779 — 1,102 Reclamation and remediation — 25 228 — 253 Exploration — 30 126 — 156 Advanced projects, research and development — 12 114 — 126 General and administrative — 72 169 — 241 Impairment of long-lived assets — 4 52 — 56 Other expense, net — 29 87 — 116 4 1,716 3,908 — 5,628 Other income (expense): Other income, net (10) 29 116 — 135 Interest income - intercompany 130 8 23 (161) — Interest expense - intercompany (20) — (141) 161 — Interest expense, net (289) (7) (1) — (297) (189) 30 (3) — (162) Income (loss) before income and mining tax and other items (193) 143 345 — 295 Income and mining tax benefit (expense) 67 (10) (448) — (391) Equity income (loss) of affiliates 346 (304) (7) (80) (45) Net income (loss) from continuing operations 220 (171) (110) (80) (141) Net income (loss) from discontinued operations — — 445 — 445 Net income (loss) 220 (171) 335 (80) 304 Net loss (income) attributable to noncontrolling interests: Continuing operations — — 140 — 140 Discontinued operations — — (284) 60 (224) — — (144) 60 (84) Net income (loss) attributable to Newmont stockholders $ 220 $ (171) $ 191 $ (20) $ 220 Comprehensive income (loss) $ 364 $ (127) $ 422 $ (211) $ 448 Comprehensive loss (income) attributable to noncontrolling interests — — (139) 55 (84) Comprehensive income (loss) attributable to Newmont stockholders $ 364 $ (127) $ 283 $ (156) $ 364 (1) Excludes Depreciation and amortization and Reclamation and remediation . Year Ended December 31, 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 $ (129) $ (207) $ 2,686 $ — $ 2,350 Net cash provided by (used in) operating activities of discontinued operations — — (15) — (15) Net cash provided by (used in) operating activities (129) (207) 2,671 — 2,335 Investing activities: Additions to property, plant and mine development — (253) (613) — (866) Purchase of investments (114) — (16) — (130) Proceeds from sales of investments — — 35 — 35 Acquisitions, net — — (15) — (15) Proceeds from sales of other assets — — 5 — 5 Proceeds from sale of Batu Hijau — — — — — Other — 2 8 — 10 Net cash provided by (used in) investing activities of continuing operations (114) (251) (596) — (961) Net cash provided by (used in) investing activities of discontinued operations — — — — — Net cash provided by (used in) investing activities (114) (251) (596) — (961) Financing activities: Repayment of debt (575) (3) (2) — (580) Distributions to noncontrolling interests — — (178) — (178) Dividends paid to common stockholders (134) — — — (134) Funding from noncontrolling interests — — 94 — 94 Acquisition of noncontrolling interests — — (48) — (48) Payments for withholding of employee taxes related to stock-based compensation — (13) — — (13) Dividends paid to noncontrolling interests — — — — — Proceeds from stock issuance, net — — — — — Sale of noncontrolling interests — — — — — Net intercompany borrowings (repayments) 955 473 (1,428) — — Other (3) — (2) — (5) Net cash provided by (used in) financing activities of continuing operations 243 457 (1,564) — (864) Net cash provided by (used in) financing activities of discontinued operations — — — — — Net cash provided by (used in) financing activities 243 457 (1,564) — (864) Effect of exchange rate changes on cash, cash equivalents and restricted cash — — 6 — 6 Net change in cash, cash equivalents and restricted cash — (1) 517 — 516 Less net cash provided by (used in) Batu Hijau discontinued operations — — — — — — (1) 517 — 516 Cash, cash equivalents and restricted cash at beginning of period — 1 2,781 — 2,782 Cash, cash equivalents and restricted cash at end of period $ — $ — $ 3,298 $ — $ 3,298 Reconciliation of cash, cash equivalents and restricted cash: Cash and cash equivalents $ — $ — $ 3,259 $ — $ 3,259 Restricted cash included in Other current assets — — 1 — 1 Restricted cash included in Other noncurrent assets — — 38 — 38 Total cash, cash equivalents and restricted cash $ — $ — $ 3,298 $ — $ 3,298 Year Ended December 31, 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 $ 2,240 $ 1,342 $ 123 $ (1,782) $ 1,923 Net cash provided by (used in) operating activities of discontinued operations — — 869 — 869 Net cash provided by (used in) operating activities 2,240 1,342 992 (1,782) 2,792 Investing activities: Additions to property, plant and mine development — (261) (872) — (1,133) Purchases of investments — — (15) — (15) Proceeds from sales of investments — 8 187 — 195 Acquisitions, net — — (6) — (6) Proceeds from sales of other assets — — — 9 Proceeds from sale of Batu Hijau — — 920 — 920 Other — — (4) — (4) Net cash provided by (used in) investing activities of continuing operations — (253) 219 — (34) Net cash provided by (used in) investing activities of discontinued operations — — (46) — (46) Net cash provided by (used in) investing activities — (253) 173 — (80) Financing activities: Repayment of debt (1,307) (3) (2) — (1,312) Distributions to noncontrolling interests — — (3) — (3) Dividends paid to common stockholders (67) (1,512) (270) 1,782 (67) Funding from noncontrolling interests — — 66 — 66 Acquisition of noncontrolling interests — — (19) — (19) Payments for withholding of employee taxes related to stock-based compensation — (6) — — (6) Dividends paid to noncontrolling interests — — (146) — (146) Proceeds from stock issuance, net — — — — — Proceeds from sale of noncontrolling interests — — — — — Net intercompany borrowings (repayments) (866) (748) 1,614 — — Other — — 1 — 1 Net cash provided by (used in) financing activities of continuing operations (2,240) (2,269) 1,241 1,782 (1,486) Net cash provided by (used in) financing activities of discontinued operations — — (331) — (331) Net cash provided by (used in) financing activities (2,240) (2,269) 910 1,782 (1,817) Effect of exchange rate changes on cash, cash equivalents and restricted cash — — 2 — 2 Net change in cash, cash equivalents and restricted cash — (1,180) 2,077 — 897 Less net cash provided by (used in) Batu Hijau discontinued operations — — 503 — 503 — (1,180) 1,574 — 394 Cash, cash equivalents and restricted cash at beginning of period — 1,181 1,207 — 2,388 Cash, cash equivalents and restricted cash at end of period $ — $ 1 $ 2,781 $ — $ 2,782 Reconciliation of cash, cash equivalents and restricted cash: Cash and cash equivalents $ — $ 1 $ 2,755 $ — $ 2,756 Restricted cash included in Other current assets — — 1 — 1 Restricted cash included in Other noncurrent assets — — 25 — 25 Total cash, cash equivalents and restricted cash $ — $ 1 $ 2,781 $ — $ 2,782 Year Ended December 31, 2015 (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 $ 7 $ 422 $ 1,159 $ — $ 1,588 Net cash provided by (used in) operating activities of discontinued operations — — 557 — 557 Net cash provided by (used in) operating activities 7 422 1,716 — 2,145 Investing activities: Additions to property, plant and mine development — (326) (985) — (1,311) Purchases of investments — — (17) — (17) Proceeds from sales of investments — 25 4 — 29 Acquisitions, net (821) — (2) — (823) Proceeds from sales of other assets 102 18 83 — 203 Proceeds from sale of Batu Hijau — — — — — Other — — (32) — (32) Net cash provided by (used in) investing activities of continuing operations (719) (283) (949) — (1,951) Net cash provided by (used in) investing activities of discontinued operations — — (90) — (90) Net cash provided by (used in) investing activities (719) (283) (1,039) — (2,041) Financing activities: Repayment of debt (200) (2) (27) — (229) Distributions of noncontrolling interests — — — — — Dividends paid to common stockholders (52) — — — (52) Funding from noncontrolling interests — — 109 — 109 Acquisition of noncontrolling interests — — (8) — (8) Payments for withholding of employee taxes related to stock-based compensation — — — — — Dividends paid to noncontrolling interests — — (3) — (3) Proceeds from stock issuance, net 675 — — — 675 Proceeds from sale of noncontrolling interests — 3 34 — 37 Net intercompany borrowings (repayments) 291 (57) (234) — — Other (2) 1 (1) — (2) Net cash provided by (used in) financing activities of continuing operations 712 (55) (130) — 527 Net cash provided by (used in) financing activities of discontinued operations — — (225) — (225) Net cash provided by (used in) financing activities 712 (55) (355) — 302 Effect of exchange rate changes on cash, cash equivalents and restricted cash — — (24) — (24) Net change in cash, cash equivalents and restricted cash — 84 298 — 382 Less net cash provided by (used in) Batu Hijau discontinued operations — — 254 — 254 — 84 44 — 128 Cash, cash equivalents and restricted cash at beginning of period — 1,097 1,163 — 2,260 Cash, cash equivalents and restricted cash at end of period $ — $ 1,181 $ 1,207 $ — $ 2,388 Reconciliation of cash, cash equivalents and restricted cash: Cash and cash equivalents $ — $ 1,181 $ 1,182 $ — $ 2,363 Restricted cash included in Other current assets — — — — — Restricted cash included in Other noncurrent assets — — 25 — 25 Total cash, cash equivalents and restricted cash $ — $ 1,181 $ 1,207 $ — $ 2,388 At December 31, 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 $ — $ — $ 3,259 $ — $ 3,259 Trade receivables — 18 106 — 124 Other accounts receivables — — 113 — 113 Intercompany receivable 2,053 4,601 3,484 (10,138) — Investments — — 62 — 62 Inventories — 181 498 — 679 Stockpiles and ore on leach pads — 196 480 — 676 Other current assets — 38 115 — 153 Current assets 2,053 5,034 8,117 (10,138) 5,066 Property, plant and mine development, net 17 3,067 9,210 (27) 12,267 Investments 106 4 170 — 280 Investments in subsidiaries 12,086 (311) — (11,775) — Stockpiles and ore on leach pads — 648 1,200 — 1,848 Deferred income tax assets 84 (1) 454 — 537 Non-current intercompany receivable 1,700 401 7 (2,108) — Other non-current assets — 255 310 — 565 Total assets $ 16,046 $ 9,097 $ 19,468 $ (24,048) $ 20,563 Liabilities: Debt $ — $ 1 $ 3 $ — $ 4 Accounts payable — 83 292 — 375 Intercompany payable 1,338 2,145 6,655 (10,138) — Employee-related benefits — 143 166 — 309 Income and mining taxes — 18 230 — 248 Other current liabilities 52 163 244 — 459 Current liabilities 1,390 2,553 7,590 (10,138) 1,395 Debt 4,040 4 17 — 4,061 Reclamation and remediation liabilities — 287 1,867 — 2,154 Deferred income tax liabilities — 121 474 — 595 Employee-related benefits — 222 164 — 386 Non-current intercompany payable 7 — 2,128 (2,135) — Other non-current liabilities — 18 324 — 342 Total liabilities 5,437 3,205 12,564 (12,273) 8,933 Equity: Newmont stockholders’ equity 10,609 5,892 5,883 (11,775) 10,609 Noncontrolling interests — — 1,021 — 1,021 Total equity 10,609 5,892 6,904 (11,775) 11,630 Total liabilities and equity $ 16,046 $ 9,097 $ 19,468 $ (24,048) $ 20,563 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 — 2 181 — 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 — 8 199 — 207 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 — 224 243 — 467 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 |