CONDENSED CONSOLIDATING FINANCIAL STATEMENTS | NOTE 24 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. Certain amounts have been retrospectively reclassified for the three months ended March 31, 2017 and at December 31, 2017 to conform to the current period presentation and reflect a change in Newmont’s Consolidated Statements of Cash Flows required with the adoption of ASU No. 2016-15 and ASU No. 2016-18, the correction of an error related to Newmont’s reclamation and remediation liabilities and other adjustments as described in Note 2. Three Months Ended March 31, 2018 (Issuer) (Guarantor) (Non-Guarantor) Newmont Newmont Mining Mining Newmont Other Corporation Condensed Consolidating Statement of Operation Corporation USA Subsidiaries Eliminations Consolidated Sales $ — $ 512 $ 1,305 $ — $ 1,817 Costs and expenses: Costs applicable to sales (1) — 324 705 — 1,029 Depreciation and amortization 1 87 213 — 301 Reclamation and remediation — 3 25 — 28 Exploration — 11 29 — 40 Advanced projects, research and development — 6 28 — 34 General and administrative — 19 40 — 59 Other expense, net — 1 10 — 11 1 451 1,050 — 1,502 Other income (expense): Other income, net 8 7 6 — 21 Interest income - intercompany 34 11 9 (54) — Interest expense - intercompany (8) — (46) 54 — Interest expense, net (49) (2) (2) — (53) (15) 16 (33) — (32) Income (loss) before income and mining tax and other items (16) 77 222 — 283 Income and mining tax benefit (expense) 3 (14) (94) — (105) Equity income (loss) of affiliates 205 (57) (9) (148) (9) Net income (loss) from continuing operations 192 6 119 (148) 169 Net income (loss) from discontinued operations — — 22 — 22 Net income (loss) 192 6 141 (148) 191 Net loss (income) attributable to noncontrolling interests — — 1 — 1 Net income (loss) attributable to Newmont stockholders $ 192 $ 6 $ 142 $ (148) $ 192 Comprehensive income (loss) $ 200 $ 6 $ 141 $ (148) $ 199 Comprehensive loss (income) attributable to noncontrolling interests — — 1 — 1 Comprehensive income (loss) attributable to Newmont stockholders $ 200 $ 6 $ 142 $ (148) $ 200 (1) Excludes Depreciation and amortization and Reclamation and remediation . Newmont Mining Corporation Consolidated Three Months Ended March 31, 2017 Condensed Consolidating Statements of Operation As Previously Adjustments As Revised Sales $ 1,659 $ 31 $ 1,690 Costs and expenses: Costs applicable to sales (1) 933 24 957 Depreciation and amortization 293 7 300 Reclamation and remediation 30 (1) 29 Exploration 36 — 36 Advanced projects, research and development 26 — 26 General and administrative 55 — 55 Other expense, net 17 — 17 1,390 30 1,420 Other income (expense): Other income, net (9) — (9) Interest income - intercompany — — — Interest expense - intercompany — — — Interest expense, net (67) — (67) (76) — (76) Income (loss) before income and mining tax and other items 193 1 194 Income and mining tax benefit (expense) (110) (1) (111) Equity income (loss) of affiliates (2) — (2) Net income (loss) from continuing operations 81 — 81 Net income (loss) from discontinued operations (23) — (23) Net income (loss) 58 — 58 Net loss (income) attributable to noncontrolling interests (12) 1 (11) Net income (loss) attributable to Newmont stockholders $ 46 $ 1 $ 47 Comprehensive income (loss) $ 70 $ — $ 70 Comprehensive loss (income) attributable to noncontrolling interests (12) 1 (11) Comprehensive income (loss) attributable to Newmont stockholders $ 58 $ 1 $ 59 Three Months Ended March 31, 2017 (Issuer) (Guarantor) (Non-Guarantor) Newmont Mining Corporation Newmont USA Other Subsidiaries Eliminations Condensed Consolidating Statement of Operation As Previously Adjustments As Revised As Previously Adjustments As Revised As Previously Adjustments As Revised As Previously Adjustments As Revised Sales $ — $ — $ — $ 403 $ 21 $ 424 $ 1,256 $ 10 $ 1,266 $ — $ — $ — Costs and expenses: Costs applicable to sales (1) — — — 285 18 303 648 6 654 — — — Depreciation and amortization 1 — 1 79 4 83 213 3 216 — — — Reclamation and remediation — — — 4 (1) 3 26 — 26 — — — Exploration — — — 9 — 9 27 — 27 — — — Advanced projects, research and development — — — 1 — 1 25 — 25 — — — General and administrative — — — 17 — 17 38 — 38 — — — Other expense, net — — — 6 — 6 11 — 11 — — — 1 — 1 401 21 422 988 9 997 — — — Other income (expense): Other income, net 3 — 3 — — — (12) — (12) — — — Interest income - intercompany 24 — 24 — — — 7 — 7 (31) — (31) Interest expense - intercompany (8) — (8) — — — (23) — (23) 31 — 31 Interest expense, net (62) — (62) (2) — (2) (3) — (3) — — — (43) — (43) (2) — (2) (31) — (31) — — — Income (loss) before income and mining tax and other items (44) — (44) — — — 237 1 238 — — — Income and mining tax benefit (expense) 16 — 16 — — — (126) (1) (127) — — — Equity income (loss) of affiliates 74 1 75 (84) — (84) (1) (1) (2) 9 — 9 Net income (loss) from continuing operations 46 1 47 (84) — (84) 110 (1) 109 9 — 9 Net income (loss) from discontinued operations — — — — — — (23) — (23) — — — Net income (loss) 46 1 47 (84) — (84) 87 (1) 86 9 — 9 Net loss (income) attributable to noncontrolling interests — — — — — — (12) 1 (11) — — — Net income (loss) attributable to Newmont stockholders $ 46 $ 1 $ 47 $ (84) $ — $ (84) $ 75 $ — $ 75 $ 9 $ — $ 9 Comprehensive income (loss) $ 58 $ 1 $ 59 $ (79) $ (1) $ (80) $ 82 $ — $ 82 $ 9 $ — $ 9 Comprehensive loss (income) attributable to noncontrolling interests — — — — — — (12) 1 (11) — — — Comprehensive income (loss) attributable to Newmont stockholders $ 58 $ 1 $ 59 $ (79) $ (1) $ (80) $ 70 $ 1 $ 71 $ 9 $ — $ 9 (1) Excludes Depreciation and amortization and Reclamation and remediation . Three Months Ended March 31, 2018 (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 $ (24) $ 75 $ 215 $ — $ 266 Net cash provided by (used in) operating activities of discontinued operations — — (3) — (3) Net cash provided by (used in) operating activities (24) 75 212 — 263 Investing activities: Additions to property, plant and mine development — (58) (173) — (231) Proceeds from sales of investments — — — — — Other — 2 (7) — (5) Net cash provided by (used in) investing activities — (56) (180) — (236) Financing activities: Dividends paid to common stockholders (76) — — — (76) Repurchase of common stock (64) — — — (64) Payments for withholding of employee taxes related to stock-based compensation — (39) — — (39) Funding from noncontrolling interests — — 32 — 32 Distributions to noncontrolling interests — — (31) — (31) Net intercompany borrowings (repayments) 164 20 (184) — — Other — — (1) — (1) Net cash provided by (used in) financing activities 24 (19) (184) — (179) Effect of exchange rate changes on cash, cash equivalents and restricted cash — — — — — Net change in cash, cash equivalents and restricted cash — — (152) — (152) Cash, cash equivalents and restricted cash at beginning of period — — 3,298 — 3,298 Cash, cash equivalents and restricted cash at end of period $ — $ — $ 3,146 $ — $ 3,146 Reconciliation of cash, cash equivalents and restricted cash: Cash and cash equivalents $ — $ — $ 3,111 $ — $ 3,111 Restricted cash included in Other current assets — — 1 — 1 Restricted cash included in Other noncurrent assets — — 34 — 34 Total cash, cash equivalents and restricted cash $ — $ — $ 3,146 $ — $ 3,146 Three Months Ended March 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 $ (51) $ (12) $ 440 $ — $ 377 Net cash provided by (used in) operating activities of discontinued operations — — (6) — (6) Net cash provided by (used in) operating activities (51) (12) 434 — 371 Investing activities: Additions to property, plant and mine development — (60) (120) — (180) Proceeds from sales of investments — — 19 — 19 Other — — 3 — 3 Net cash provided by (used in) investing activities — (60) (98) — (158) Financing activities: Dividends paid to common stockholders (27) — — — (27) Repurchase of common stock — — — — — Payments for withholding of employee taxes related to stock-based compensation — (13) — — (13) Funding from noncontrolling interests — — 21 — 21 Distributions to noncontrolling interests — — (32) — (32) Net intercompany borrowings (repayments) 78 86 (164) — — Other — (1) — — (1) Net cash provided by (used in) financing activities 51 72 (175) — (52) Effect of exchange rate changes on cash, cash equivalents and restricted cash — — 1 — 1 Net change in cash, cash equivalents and restricted cash — — 162 — 162 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 $ — $ 1 $ 2,943 $ — $ 2,944 Reconciliation of cash, cash equivalents and restricted cash: Cash and cash equivalents $ — $ 1 $ 2,918 $ — $ 2,919 Restricted cash included in Other current assets — — 1 — 1 Restricted cash included in Other noncurrent assets — — 24 — 24 Total cash, cash equivalents and restricted cash $ — $ 1 $ 2,943 $ — $ 2,944 At March 31, 2018 (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 $ — $ — $ 3,111 $ — $ 3,111 Trade receivables — 48 163 — 211 Other accounts receivables — 3 116 — 119 Intercompany receivable 1,949 4,598 3,510 (10,057) — Investments — — 59 — 59 Inventories — 163 494 — 657 Stockpiles and ore on leach pads — 195 445 — 640 Other current assets — 35 106 — 141 Current assets 1,949 5,042 8,004 (10,057) 4,938 Property, plant and mine development, net 17 3,062 9,260 (28) 12,311 Investments 108 5 160 — 273 Investments in subsidiaries 12,230 (411) 20 (11,839) — Stockpiles and ore on leach pads — 640 1,257 — 1,897 Deferred income tax assets 81 — 419 — 500 Non-current intercompany receivable 1,669 448 1,793 (3,910) — Other non-current assets — 254 310 — 564 Total assets $ 16,054 $ 9,040 $ 21,223 $ (25,834) $ 20,483 Liabilities: Debt $ — $ 1 $ 6 $ — $ 7 Accounts payable — 57 274 — 331 Intercompany payable 1,368 2,270 6,419 (10,057) — Employee-related benefits — 85 135 — 220 Income and mining taxes — 5 211 — 216 Other current liabilities 62 114 231 — 407 Current liabilities 1,430 2,532 7,276 (10,057) 1,181 Debt 4,041 3 44 — 4,088 Reclamation and remediation liabilities — 300 2,058 — 2,358 Deferred income tax liabilities — 124 472 — 596 Employee-related benefits 1 221 172 — 394 Non-current intercompany payable 7 — 3,931 (3,938) — Other non-current liabilities — 19 292 — 311 Total liabilities 5,479 3,199 14,245 (13,995) 8,928 Equity: Newmont stockholders’ equity 10,575 5,841 5,998 (11,839) 10,575 Noncontrolling interests — — 980 — 980 Total equity 10,575 5,841 6,978 (11,839) 11,555 Total liabilities and equity $ 16,054 $ 9,040 $ 21,223 $ (25,834) $ 20,483 Newmont Mining Corporation Consolidated At December 31, 2017 Condensed Consolidating Balance Sheet As Previously Reported Adjustments As Revised Assets: Cash and cash equivalents $ 3,259 $ — $ 3,259 Trade receivables 124 — 124 Other accounts receivables 113 — 113 Intercompany receivable — — — Investments 62 — 62 Inventories 679 — 679 Stockpiles and ore on leach pads 676 — 676 Other current assets 153 — 153 Current assets 5,066 — 5,066 Property, plant and mine development, net 12,267 71 12,338 Investments 280 — 280 Investments in subsidiaries — — — Stockpiles and ore on leach pads 1,848 — 1,848 Deferred income tax assets 537 12 549 Non-current intercompany receivable — — — Other non-current assets 565 — 565 Total assets $ 20,563 $ 83 $ 20,646 Liabilities: Debt $ 4 $ — $ 4 Accounts payable 375 — 375 Intercompany payable — — — Employee-related benefits 309 — 309 Income and mining taxes 248 — 248 Other current liabilities 459 3 462 Current liabilities 1,395 3 1,398 Debt 4,061 — 4,061 Reclamation and remediation liabilities 2,154 191 2,345 Deferred income tax liabilities 595 — 595 Employee-related benefits 386 — 386 Non-current intercompany payable — — — Other non-current liabilities 342 — 342 Total liabilities 8,933 194 9,127 Equity: Newmont stockholders’ equity 10,609 (74) 10,535 Noncontrolling interests 1,021 (37) 984 Total equity 11,630 (111) 11,519 Total liabilities and equity $ 20,563 $ 83 $ 20,646 At December 31, 2017 (Issuer) (Guarantor) (Non-Guarantor) Newmont Mining Corporation Newmont USA Other Subsidiaries Eliminations Condensed Consolidating Balance Sheet As Previously Reported Adjustments As Revised As Previously Reported Adjustments As Revised As Previously Reported Adjustments As Revised As Previously Reported Adjustments As Revised Assets: Cash and cash equivalents $ — $ — $ — $ — $ — $ — $ 3,259 $ — $ 3,259 $ — $ — $ — Trade receivables — — — 18 — 18 106 — 106 — — — Other accounts receivables — — — — — — 113 — 113 — — — Intercompany receivable 2,053 — 2,053 4,601 — 4,601 3,484 — 3,484 (10,138) — (10,138) Investments — — — — — — 62 — 62 — — — Inventories — — — 181 — 181 498 — 498 — — — Stockpiles and ore on leach pads — — — 196 — 196 480 — 480 — — — Other current assets — — — 38 — 38 115 — 115 — — — Current assets 2,053 — 2,053 5,034 — 5,034 8,117 — 8,117 (10,138) — (10,138) Property, plant and mine development, net 17 — 17 3,067 15 3,082 9,210 56 9,266 (27) — (27) Investments 106 — 106 4 — 4 170 — 170 — — — Investments in subsidiaries 12,086 (74) 12,012 (311) — (311) — — — (11,775) 74 (11,701) Stockpiles and ore on leach pads — — — 648 — 648 1,200 — 1,200 — — — Deferred income tax assets 84 — 84 (1) 6 5 454 6 460 — — — Non-current intercompany receivable 1,700 — 1,700 401 — 401 7 — 7 (2,108) — (2,108) Other non-current assets — — — 255 — 255 310 — 310 — — — Total assets $ 16,046 $ (74) $ 15,972 $ 9,097 $ 21 $ 9,118 $ 19,468 $ 62 $ 19,530 $ (24,048) $ 74 $ (23,974) Liabilities: Debt $ — $ — $ — $ 1 $ — $ 1 $ 3 $ — $ 3 $ — $ — $ — Accounts payable — — — 83 — 83 292 — 292 — — — Intercompany payable 1,338 — 1,338 2,145 — 2,145 6,655 — 6,655 (10,138) — (10,138) Employee-related benefits — — — 143 — 143 166 — 166 — — — Income and mining taxes — — — 18 — 18 230 — 230 — — — Other current liabilities 52 — 52 163 — 163 244 3 247 — — — Current liabilities 1,390 — 1,390 2,553 — 2,553 7,590 3 7,593 (10,138) — (10,138) Debt 4,040 — 4,040 4 — 4 17 — 17 — — — Reclamation and remediation liabilities — — — 287 22 309 1,867 169 2,036 — — — Deferred income tax liabilities — — — 121 — 121 474 — 474 — — — Employee-related benefits — — — 222 — 222 164 — 164 — — — Non-current intercompany payable 7 — 7 — — — 2,128 — 2,128 (2,135) — (2,135) Other non-current liabilities — — — 18 — 18 324 — 324 — — — Total liabilities 5,437 — 5,437 3,205 22 3,227 12,564 172 12,736 (12,273) — (12,273) Equity: Newmont stockholders’ equity 10,609 (74) 10,535 5,892 (1) 5,891 5,883 (73) 5,810 (11,775) 74 (11,701) Noncontrolling interests — — — — — — 1,021 (37) 984 — — — Total equity 10,609 (74) 10,535 5,892 (1) 5,891 6,904 (110) 6,794 (11,775) 74 (11,701) Total liabilities and equity $ 16,046 $ (74) $ 15,972 $ 9,097 $ 21 $ 9,118 $ 19,468 $ 62 $ 19,530 $ (24,048) $ 74 $ (23,974) |