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 September 30, 2018 (Issuer) (Guarantor) (Non-Guarantor) Newmont Newmont Mining Mining Newmont Other Corporation Condensed Consolidating Statement of Operation Corporation USA Subsidiaries Eliminations Consolidated Sales $ — $ 417 $ 1,309 $ — $ 1,726 Costs and expenses: Costs applicable to sales (1) — 293 702 — 995 Depreciation and amortization 1 85 213 — 299 Reclamation and remediation — 4 27 — 31 Exploration — 13 35 — 48 Advanced projects, research and development — 8 29 — 37 General and administrative — 20 39 — 59 Impairment of long-lived assets — 336 30 — 366 Other expense, net — — 5 — 5 1 759 1,080 — 1,840 Other income (expense): Other income, net (32) 9 60 — 37 Interest income - intercompany 16 14 12 (42) — Interest expense - intercompany (10) — (32) 42 — Interest expense, net (45) (3) (3) — (51) (71) 20 37 — (14) Income (loss) before income and mining tax and other items (72) (322) 266 — (128) Income and mining tax benefit (expense) 16 79 (98) — (3) Equity income (loss) of affiliates (89) (13) (9) 102 (9) Net income (loss) from continuing operations (145) (256) 159 102 (140) Net income (loss) from discontinued operations — — 16 — 16 Net income (loss) (145) (256) 175 102 (124) Net loss (income) attributable to noncontrolling interests: — — (21) — (21) Net income (loss) attributable to Newmont stockholders $ (145) $ (256) $ 154 $ 102 $ (145) Comprehensive income (loss) $ (133) $ (246) $ 165 $ 102 $ (112) Comprehensive loss (income) attributable to noncontrolling interests — — (21) — (21) Comprehensive income (loss) attributable to Newmont stockholders $ (133) $ (246) $ 144 $ 102 $ (133) (1) Excludes Depreciation and amortization and Reclamation and remediation. 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 94 233 — 328 Reclamation and remediation — 3 23 — 26 Exploration — 10 38 — 48 Advanced projects, research and development — 10 31 — 41 General and administrative — 18 40 — 58 Impairment of long-lived assets — — — — — Other expense, net — — 1 — 1 1 453 1,101 — 1,555 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 49 214 — 278 Income and mining tax benefit (expense) (5) (19) (49) — (73) Equity income (loss) of affiliates 196 (52) (3) (140) 1 Net income (loss) from continuing operations 206 (22) 162 (140) 206 Net income (loss) from discontinued operations — — (7) — (7) Net income (loss) 206 (22) 155 (140) 199 Net loss (income) attributable to noncontrolling interests — — 7 — 7 Net income (loss) attributable to Newmont stockholders $ 206 $ (22) $ 162 $ (140) $ 206 Comprehensive income (loss) $ 232 $ (13) $ 146 $ (140) $ 225 Comprehensive loss (income) attributable to noncontrolling interests — — 7 — 7 Comprehensive income (loss) attributable to Newmont stockholders $ 232 $ (13) $ 153 $ (140) $ 232 (1) Excludes Depreciation and amortization and Reclamation and remediation. Nine Months Ended September 30, 2018 (Issuer) (Guarantor) (Non-Guarantor) Newmont Newmont Mining Mining Newmont Other Corporation Condensed Consolidating Statement of Operation Corporation USA Subsidiaries Eliminations Consolidated Sales $ — $ 1,348 $ 3,857 $ — $ 5,205 Costs and expenses: Costs applicable to sales (1) — 898 2,091 — 2,989 Depreciation and amortization 3 247 629 — 879 Reclamation and remediation — 11 85 — 96 Exploration — 39 103 — 142 Advanced projects, research and development — 22 85 — 107 General and administrative — 61 120 — 181 Impairment of long-lived assets — 336 30 — 366 Other expense, net — 2 27 — 29 3 1,616 3,170 — 4,789 Other income (expense): Other income, net (29) 36 190 — 197 Interest income - intercompany 67 36 33 (136) — Interest expense - intercompany (29) — (107) 136 — Interest expense, net (142) (5) (6) — (153) (133) 67 110 — 44 Income (loss) before income and mining tax and other items (136) (201) 797 — 460 Income and mining tax benefit (expense) 29 58 (213) — (126) Equity income (loss) of affiliates 446 (90) (25) (356) (25) Net income (loss) from continuing operations 339 (233) 559 (356) 309 Net income (loss) from discontinued operations — — 56 — 56 Net income (loss) 339 (233) 615 (356) 365 Net loss (income) attributable to noncontrolling interests — — (26) — (26) Net income (loss) attributable to Newmont stockholders $ 339 $ (233) $ 589 $ (356) $ 339 Comprehensive income (loss) $ 366 $ (223) $ 605 $ (356) $ 392 Comprehensive loss (income) attributable to noncontrolling interests — — (26) — (26) Comprehensive income (loss) attributable to Newmont stockholders $ 366 $ (223) $ 579 $ (356) $ 366 (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 $ — $ 1,435 $ 4,009 $ — $ 5,444 Costs and expenses: Costs applicable to sales (1) — 901 2,108 — 3,009 Depreciation and amortization 3 259 676 — 938 Reclamation and remediation — 10 88 — 98 Exploration — 32 103 — 135 Advanced projects, research and development — 13 86 — 99 General and administrative — 53 118 — 171 Impairment of long-lived assets — — 3 — 3 Other expense, net — 8 21 — 29 3 1,276 3,203 — 4,482 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) 187 677 — 807 Income and mining tax benefit (expense) 20 (41) (329) — (350) Equity income (loss) of affiliates 465 (286) (16) (167) (4) Net income (loss) from continuing operations 428 (140) 332 (167) 453 Net income (loss) from discontinued operations — — (45) — (45) Net income (loss) 428 (140) 287 (167) 408 Net loss (income) attributable to noncontrolling interests — — 20 — 20 Net income (loss) attributable to Newmont stockholders $ 428 $ (140) $ 307 $ (167) $ 428 Comprehensive income (loss) $ 470 $ (122) $ 269 $ (167) $ 450 Comprehensive loss (income) attributable to noncontrolling interests — — 20 — 20 Comprehensive income (loss) attributable to Newmont stockholders $ 470 $ (122) $ 289 $ (167) $ 470 (1) Excludes Depreciation and amortization and Reclamation and remediation. Nine Months Ended September 30, 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 $ (123) $ 339 $ 879 $ — $ 1,095 Net cash provided by (used in) operating activities of discontinued operations — — (8) — (8) Net cash provided by (used in) operating activities (123) 339 871 — 1,087 Investing activities: Additions to property, plant and mine development — (203) (560) — (763) Acquisitions, net — — (138) — (138) Proceeds from sales of other assets — — 23 — 23 Purchases of investments (4) — (13) — (17) Proceeds from sales of investments — 12 4 — 16 Other — 1 (6) — (5) Net cash provided by (used in) investing activities (4) (190) (690) — (884) Financing activities: Dividends paid to common stockholders (226) — — — (226) Distributions to noncontrolling interests — — (107) — (107) Repurchase of common stock (96) — — — (96) Funding from noncontrolling interests — — 77 — 77 Proceeds from sale of noncontrolling interests — — 48 — 48 Payments for withholding of employee taxes related to stock-based compensation — (39) — — (39) Repayment of debt — — (3) — (3) Net intercompany borrowings (repayments) 449 (109) (340) — — Other — (1) 1 — — Net cash provided by (used in) financing activities 127 (149) (324) — (346) Effect of exchange rate changes on cash, cash equivalents and restricted cash — — (4) — (4) Net change in cash, cash equivalents and restricted cash — — (147) — (147) Cash, cash equivalents and restricted cash at beginning of period — — 3,298 — 3,298 Cash, cash equivalents and restricted cash at end of period $ — $ — $ 3,151 $ — $ 3,151 Reconciliation of cash, cash equivalents and restricted cash: Cash and cash equivalents $ — $ — $ 3,068 $ — $ 3,068 Restricted cash included in Other current assets — — 1 — 1 Restricted cash included in Other noncurrent assets — — 82 — 82 Total cash, cash equivalents and restricted cash $ — $ — $ 3,151 $ — $ 3,151 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 $ (307) $ 375 $ 1,323 $ — $ 1,391 Net cash provided by (used in) operating activities of discontinued operations — — (12) — (12) Net cash provided by (used in) operating activities (307) 375 1,311 — 1,379 Investing activities: Additions to property, plant and mine development — (171) (386) — (557) Acquisitions, net — — — — — Proceeds from sales of other assets — — 5 — 5 Purchases of investments (109) — (4) — (113) Proceeds from sales of investments — — 34 — 34 Other — 2 11 — 13 Net cash provided by (used in) investing activities (109) (169) (340) — (618) Financing activities: Dividends paid to common stockholders (94) — — — (94) Distributions to noncontrolling interests — — (119) — (119) Repurchase of common stock — — — — — Funding from noncontrolling interests — — 70 — 70 Proceeds from sale of noncontrolling interests — — — — — Payments for withholding of employee taxes related to stock-based compensation — (13) — — (13) Repayment of debt (379) (2) (2) — (383) Net intercompany borrowings (repayments) 892 (192) (700) — — Other (3) — — — (3) Net cash provided by (used in) financing activities 416 (207) (751) — (542) Effect of exchange rate changes on cash, cash equivalents and restricted cash — — 3 — 3 Net change in cash, cash equivalents and restricted cash — (1) 223 — 222 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 $ — $ — $ 3,004 $ — $ 3,004 Reconciliation of cash, cash equivalents and restricted cash: Cash and cash equivalents $ — $ — $ 2,969 $ — $ 2,969 Restricted cash included in Other current assets — — — — — Restricted cash included in Other noncurrent assets — — 35 — 35 Total cash, cash equivalents and restricted cash $ — $ — $ 3,004 $ — $ 3,004 At September 30, 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 $ — $ — $ 3,068 $ — $ 3,068 Trade receivables — 17 159 — 176 Other accounts receivables — 1 95 — 96 Intercompany receivable 6,190 4,788 8,076 (19,054) — Investments — — 58 — 58 Inventories — 196 517 — 713 Stockpiles and ore on leach pads — 204 464 — 668 Other current assets — 37 119 — 156 Current assets 6,190 5,243 12,556 (19,054) 4,935 Property, plant and mine development, net 15 2,743 9,481 (30) 12,209 Investments 86 5 240 — 331 Investments in subsidiaries 13,048 (481) — (12,567) — Stockpiles and ore on leach pads — 640 1,238 — 1,878 Deferred income tax assets 98 — 502 — 600 Non-current intercompany receivable 701 628 7 (1,336) — Other non-current assets — 248 358 — 606 Total assets $ 20,138 $ 9,026 $ 24,382 $ (32,987) $ 20,559 Liabilities: Accounts payable $ — $ 65 $ 228 $ — $ 293 Intercompany payable 5,426 2,473 11,155 (19,054) — Employee-related benefits — 117 158 — 275 Income and mining taxes — 14 29 — 43 Lease and other financing obligations — 1 19 — 20 Other current liabilities 62 118 240 — 420 Current liabilities 5,488 2,788 11,829 (19,054) 1,051 Debt 4,043 — — — 4,043 Reclamation and remediation liabilities — 319 2,066 — 2,385 Deferred income tax liabilities — 123 491 — 614 Employee-related benefits 3 200 165 — 368 Lease and other financing obligations — 3 124 — 127 Non-current intercompany payable 7 — 1,359 (1,366) — Other non-current liabilities — 14 334 — 348 Total liabilities 9,541 3,447 16,368 (20,420) 8,936 Contingently redeemable noncontrolling interest — — 49 — 49 Equity: Newmont stockholders’ equity 10,597 5,579 6,988 (12,567) 10,597 Noncontrolling interests — — 977 — 977 Total equity 10,597 5,579 7,965 (12,567) 11,574 Total liabilities and equity $ 20,138 $ 9,026 $ 24,382 $ (32,987) $ 20,559 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 3,082 9,266 (27) 12,338 Investments 106 4 170 — 280 Investments in subsidiaries 12,012 (311) — (11,701) — Stockpiles and ore on leach pads — 648 1,200 — 1,848 Deferred income tax assets 84 5 460 — 549 Non-current intercompany receivable 1,700 401 7 (2,108) — Other non-current assets — 255 310 — 565 Total assets $ 15,972 $ 9,118 $ 19,530 $ (23,974) $ 20,646 Liabilities: 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 Lease and other financing obligations — 1 3 — 4 Other current liabilities 52 163 247 — 462 Current liabilities 1,390 2,553 7,593 (10,138) 1,398 Debt 4,040 — — — 4,040 Reclamation and remediation liabilities — 309 2,036 — 2,345 Deferred income tax liabilities — 121 474 — 595 Employee-related benefits — 222 164 — 386 Lease and other financing obligations — 4 17 — 21 Non-current intercompany payable 7 — 2,128 (2,135) — Other non-current liabilities — 18 324 — 342 Total liabilities 5,437 3,227 12,736 (12,273) 9,127 Contingently redeemable noncontrolling interest — — — — — Equity: Newmont stockholders’ equity 10,535 5,891 5,810 (11,701) 10,535 Noncontrolling interests — — 984 — 984 Total equity 10,535 5,891 6,794 (11,701) 11,519 Total liabilities and equity $ 15,972 $ 9,118 $ 19,530 $ (23,974) $ 20,646 |