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Exhibit 12.1
NEWMONT MINING CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Amounts in millions, except ratio)
| Nine Months Ended |
| |
| September 30, 2014 |
| |
Earnings: |
|
|
|
Income before income and mining tax and other items (1) | $ | 260 |
|
Adjustments: |
|
|
|
Fixed charges added to earnings |
| 290 |
|
Amortization of capitalized interest |
| 14 |
|
| $ | 564 |
|
Fixed Charges: |
|
|
|
Net interest expense (2) | $ | 276 |
|
Portion of rental expense representative of interest |
| 14 |
|
Fixed charges added to earnings |
| 290 |
|
Capitalized interest |
| 14 |
|
| $ | 304 |
|
Ratio of earnings to fixed charges |
| 1.9 |
|
(1) | Excludes interest on income tax liabilities. Interest and penalties related to income taxes are included in Income and mining tax expense. |
(2) | Includes interest expense of majority-owned subsidiaries and amortization of debt issuance costs. |