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, 2018 (Issuer) (Guarantor) (Non-Guarantor) Newmont Newmont Mining Mining Newmont Other Corporation Condensed Consolidating Statement of Operation Corporation USA Subsidiaries Eliminations Consolidated Sales $ — $ 1,896 $ 5,357 $ — $ 7,253 Costs and expenses: Costs applicable to sales (1) — 1,206 2,887 — 4,093 Depreciation and amortization 4 349 862 — 1,215 Reclamation and remediation — 32 131 — 163 Exploration — 55 142 — 197 Advanced projects, research and development — 34 119 — 153 General and administrative — 82 162 — 244 Impairment of long-lived assets — 336 33 — 369 Other expense, net — 4 25 — 29 4 2,098 4,361 — 6,463 Other income (expense): Other income, net (56) 40 171 — 155 Interest income - intercompany 83 51 43 (177) — Interest expense - intercompany (6) — (171) 177 — Interest expense, net (190) (7) (10) — (207) (169) 84 33 — (52) Income (loss) before income and mining tax and other items (173) (118) 1,029 — 738 Income and mining tax benefit (expense) 14 (15) (385) — (386) Equity income (loss) of affiliates 500 (228) (33) (272) (33) Net income (loss) from continuing operations 341 (361) 611 (272) 319 Net income (loss) from discontinued operations — — 61 — 61 Net income (loss) 341 (361) 672 (272) 380 Net loss (income) attributable to noncontrolling interests — — (39) — (39) Net income (loss) attributable to Newmont stockholders $ 341 $ (361) $ 633 $ (272) $ 341 Comprehensive income (loss) $ 330 $ (440) $ 779 $ (300) $ 369 Comprehensive loss (income) attributable to noncontrolling interests — — (39) — (39) Comprehensive income (loss) attributable to Newmont stockholders $ 330 $ (440) $ 740 $ (300) $ 330 (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 Operation Corporation USA Subsidiaries Eliminations Consolidated Sales $ — $ 1,955 $ 5,424 $ — $ 7,379 Costs and expenses: Costs applicable to sales (1) — 1,209 2,853 — 4,062 Depreciation and amortization 4 355 902 — 1,261 Reclamation and remediation — 63 129 — 192 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 1,783 4,333 — 6,120 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) 210 937 — 1,072 Income and mining tax benefit (expense) (34) (23) (1,070) — (1,127) Equity income (loss) of affiliates (5) (108) (16) 113 (16) Net income (loss) from continuing operations (114) 79 (149) 113 (71) Net income (loss) from discontinued operations — — (38) — (38) Net income (loss) (114) 79 (187) 113 (109) Net loss (income) attributable to noncontrolling interests — — (5) — (5) Net income (loss) attributable to Newmont stockholders $ (114) $ 79 $ (192) $ 113 $ (114) Comprehensive income (loss) $ (72) $ 90 $ (198) $ 113 $ (67) Comprehensive loss (income) attributable to noncontrolling interests — — (5) — (5) Comprehensive income (loss) attributable to Newmont stockholders $ (72) $ 90 $ (203) $ 113 $ (72) (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 $ — $ 1,951 $ 4,729 $ — $ 6,680 Costs and expenses: Costs applicable to sales (1) — 1,198 2,540 — 3,738 Depreciation and amortization 4 333 876 — 1,213 Reclamation and remediation — 14 155 — 169 Exploration — 35 113 — 148 Advanced projects, research and development — 11 123 — 134 General and administrative — 90 143 — 233 Impairment of long-lived assets — 1 1,002 — 1,003 Other expense, net — 30 28 — 58 4 1,712 4,980 — 6,696 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) 247 (227) — (220) Income and mining tax benefit (expense) 232 (62) (749) — (579) Equity income (loss) of affiliates (621) (1,342) 411 1,539 (13) Net income (loss) from continuing operations (629) (1,157) (565) 1,539 (812) Net income (loss) from discontinued operations — — (131) — (131) Net income (loss) (629) (1,157) (696) 1,539 (943) Net loss (income) attributable to noncontrolling interests: Continuing operations — — 586 — 586 Discontinued operations — — (272) — (272) — — 314 — 314 Net income (loss) attributable to Newmont stockholders $ (629) $ (1,157) $ (382) $ 1,539 $ (629) Comprehensive income (loss) $ (629) $ (1,155) $ (698) $ 1,539 $ (943) Comprehensive loss (income) attributable to noncontrolling interests — — 314 — 314 Comprehensive income (loss) attributable to Newmont stockholders $ (629) $ (1,155) $ (384) $ 1,539 $ (629) (1) Excludes Depreciation and amortization and Reclamation and remediation. Year Ended December 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 $ (147) $ 578 $ 1,406 $ — $ 1,837 Net cash provided by (used in) operating activities of discontinued operations — — (10) — (10) Net cash provided by (used in) operating activities (147) 578 1,396 — 1,827 Investing activities: Additions to property, plant and mine development — (274) (758) — (1,032) Acquisitions, net — — (140) — (140) Purchases of investments (6) — (33) — (39) Proceeds from sales of other assets — — 24 — 24 Proceeds from sales of investments — 13 5 — 18 Proceeds from sale of Batu Hijau — — — — — Other — (1) (7) — (8) Net cash provided by (used in) investing activities of continuing operations (6) (262) (909) — (1,177) Net cash provided by (used in) investing activities of discontinued operations — — — — — Net cash provided by (used in) investing activities (6) (262) (909) — (1,177) Financing activities: Dividends paid to common stockholders (301) — — — (301) Distributions to noncontrolling interests — — (160) — (160) Funding from noncontrolling interests — — 100 — 100 Repurchases of common stock (98) — — — (98) Proceeds from sale of noncontrolling interests — — 48 — 48 Payments for withholding of employee taxes related to stock-based compensation — (40) — — (40) Payments on lease and other financing obligations — (1) (3) — (4) Repayment of debt — — — — — Acquisition of noncontrolling interests — — — — — Dividends paid to noncontrolling interests — — — — — Net intercompany borrowings (repayments) 552 (275) (277) — — Other — — — — — Net cash provided by (used in) financing activities of continuing operations 153 (316) (292) — (455) Net cash provided by (used in) financing activities of discontinued operations — — — — — Net cash provided by (used in) financing activities 153 (316) (292) — (455) Effect of exchange rate changes on cash, cash equivalents and restricted cash — — (4) — (4) Net change in cash, cash equivalents and restricted cash — — 191 — 191 Less net cash provided by (used in) Batu Hijau discontinued operations — — — — — — — 191 — 191 Cash, cash equivalents and restricted cash at beginning of period — — 3,298 — 3,298 Cash, cash equivalents and restricted cash at end of period $ — $ — $ 3,489 $ — $ 3,489 Reconciliation of cash, cash equivalents and restricted cash: Cash and cash equivalents $ — $ — $ 3,397 $ — $ 3,397 Restricted cash included in Other current assets — — 1 — 1 Restricted cash included in Other noncurrent assets — — 91 — 91 Total cash, cash equivalents and restricted cash $ — $ — $ 3,489 $ — $ 3,489 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 $ (325) $ (207) $ 2,671 $ — $ 2,139 Net cash provided by (used in) operating activities of discontinued operations — — (15) — (15) Net cash provided by (used in) operating activities (325) (207) 2,656 — 2,124 Investing activities: Additions to property, plant and mine development — (253) (613) — (866) Acquisitions, net — — — — — Purchases of investments (114) — (16) — (130) Proceeds from sales of other assets — — 5 — 5 Proceeds from sales of investments — — 35 — 35 Proceeds from sale of Batu Hijau — — — — — Other — 2 8 — 10 Net cash provided by (used in) investing activities of continuing operations (114) (251) (581) — (946) Net cash provided by (used in) investing activities of discontinued operations — — — — — Net cash provided by (used in) investing activities (114) (251) (581) — (946) Financing activities: Dividends paid to common stockholders (134) — — — (134) Distributions to noncontrolling interests — — (178) — (178) Funding from noncontrolling interests — — 94 — 94 Repurchases of common stock — — — — — Proceeds from sale of noncontrolling interests — — — — — Payments for withholding of employee taxes related to stock-based compensation — (14) — — (14) Payments on lease and other financing obligations — (3) (2) — (5) Repayment of debt (379) — — — (379) Acquisition of noncontrolling interests — — (48) — (48) Dividends paid to noncontrolling interests — — — — — Net intercompany borrowings (repayments) 955 473 (1,428) — — Other (3) 1 (2) — (4) Net cash provided by (used in) financing activities of continuing operations 439 457 (1,564) — (668) Net cash provided by (used in) financing activities of discontinued operations — — — — — Net cash provided by (used in) financing activities 439 457 (1,564) — (668) 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 $ 117 $ (1,782) $ 1,917 Net cash provided by (used in) operating activities of discontinued operations — — 869 — 869 Net cash provided by (used in) operating activities 2,240 1,342 986 (1,782) 2,786 Investing activities: Additions to property, plant and mine development — (261) (872) — (1,133) Acquisitions, net — — — — — Purchases of investments — — (15) — (15) Proceeds from sales of other assets — — 9 — 9 Proceeds from sales of investments — 8 187 — 195 Proceeds from sale of Batu Hijau — — 920 — 920 Other — — (4) — (4) Net cash provided by (used in) investing activities of continuing operations — (253) 225 — (28) Net cash provided by (used in) investing activities of discontinued operations — — (46) — (46) Net cash provided by (used in) investing activities — (253) 179 — (74) Financing activities: Dividends paid to common stockholders (67) (1,512) (270) 1,782 (67) Distributions of noncontrolling interests — — (3) — (3) Funding from noncontrolling interests — — 66 — 66 Repurchases of common stock — — — — — Proceeds from sale of noncontrolling interests — — — — — Payments for withholding of employee taxes related to stock-based compensation — (5) — — (5) Payments on lease and other financing obligations — (3) (2) — (5) Repayment of debt (1,307) — — — (1,307) Acquisition of noncontrolling interests — — (19) — (19) Dividends paid to noncontrolling interests — — (146) — (146) 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 At December 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 $ — $ — $ 3,397 $ — $ 3,397 Trade receivables — 63 191 — 254 Other accounts receivables — 1 91 — 92 Intercompany receivable 6,351 5,027 8,296 (19,674) — Investments — — 48 — 48 Inventories — 180 450 — 630 Stockpiles and ore on leach pads — 195 502 — 697 Other current assets — 29 130 — 159 Current assets 6,351 5,495 13,105 (19,674) 5,277 Property, plant and mine development, net 14 2,680 9,593 (29) 12,258 Investments 62 4 205 — 271 Investments in subsidiaries 13,083 — 3 (13,086) — Stockpiles and ore on leach pads — 658 1,208 — 1,866 Deferred income tax assets — — 401 — 401 Non-current intercompany receivable 653 704 6 (1,363) — Other non-current assets — 271 371 — 642 Total assets $ 20,163 $ 9,812 $ 24,892 $ (34,152) $ 20,715 Liabilities: Debt $ 626 $ — $ — $ — $ 626 Accounts payable — 83 220 — 303 Intercompany payable 5,554 2,741 11,379 (19,674) — Employee-related benefits — 138 167 — 305 Income and mining taxes — 19 52 — 71 Lease and other financing obligations — 1 26 — 27 Other current liabilities 52 135 268 — 455 Current liabilities 6,232 3,117 12,112 (19,674) 1,787 Debt 3,418 — — — 3,418 Reclamation and remediation liabilities — 325 2,156 — 2,481 Deferred income tax liabilities — 90 522 — 612 Employee-related benefits 3 236 162 — 401 Lease and other financing obligations — 3 187 — 190 Non-current intercompany payable 7 — 1,385 (1,392) — Other non-current liabilities 1 637 298 (622) 314 Total liabilities 9,661 4,408 16,822 (21,688) 9,203 Contingently redeemable noncontrolling interest — — 47 — 47 Equity: Newmont stockholders’ equity 10,502 5,404 7,060 (12,464) 10,502 Noncontrolling interests — — 963 — 963 Total equity 10,502 5,404 8,023 (12,464) 11,465 Total liabilities and equity $ 20,163 $ 9,812 $ 24,892 $ (34,152) $ 20,715 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 — — (12,012) — 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 $ 9,429 $ 19,530 $ (24,285) $ 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 — 329 324 (311) 342 Total liabilities 5,437 3,538 12,736 (12,584) 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 $ 9,429 $ 19,530 $ (24,285) $ 20,646 |