Exhibit 12.2
NEWMONT MINING CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS
(Amounts in thousands except ratio)
| Nine Months Ended September 30, 2003 |
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| Earnings: |
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| Income before income taxes, net of minority interest in income of affiliates |
$ | 647,239 | ||
| Adjustments: |
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| Net interest expense (1) |
71,371 | |||
| Amortization of capitalized interest |
6,312 | |||
| Portion of rental expense representative of interest |
2,647 | |||
| Undistributed income of affiliate |
(57,592 | ) | ||
| Minority interest in net income of affiliates |
130,721 | |||
| Preferred dividends |
— | |||
| $ | 800,698 | |||
| Fixed Charges: |
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| Net interest expense (1) |
71,371 | |||
| Capitalized interest |
5,665 | |||
| Portion of rental expense representative of interest |
2,647 | |||
| Preferred dividends |
— | |||
| $ | 79,683 | |||
| Ratio of earnings to fixed charges |
10.0 | |||
| (1) | Includes interest expense of majority-owned subsidiaries and amortization of debt issuance costs. |