Exhibit 12.1
NEWMONT MINING CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Amounts in millions except ratio)
| Three Months Ended March 31, 2006 | |||
| Earnings: |
|||
| Income from continuing operations before income tax expense (1) |
$ | 350 | |
| Adjustments: |
|||
| Fixed charges added to earnings |
21 | ||
| Dividends from equity affiliates |
— | ||
| Amortization of capitalized interest |
3 | ||
| $ | 374 | ||
| Fixed Charges: |
|||
| Net interest expense(2) |
20 | ||
| Portion of rental expense representative of interest |
1 | ||
| Fixed charges added to earnings |
21 | ||
| Capitalized interest |
15 | ||
| $ | 36 | ||
| Ratio of earnings to fixed charges |
10.4 | ||
| (1) | Income from continuing operations before income tax expense, minority interest and equity income of affiliates. |
| (2) | Includes interest expense of majority-owned subsidiaries and amortization of debt issuance costs. |