DECEMBER 2021 INVESTOR PRESENTATION
Free cash flow
N
Management uses Free Cash Flow as a non-GAAP measure to analyze cash flows generated from operations. Free Cash Flow is Net cash provided by (used in) operating activities less Net cash provided by (used in)
operating activities of discontinued operations less Additions to property, plant and mine development as presented on the Condensed Consolidated Statements of Cash Flows. The Company believes Free Cash
Flow is also useful as one of the bases for comparing the Company's performance with its competitors. Although Free Cash Flow and similar measures are frequently used as measures of cash flows generated
from operations by other companies, the Company's calculation of Free Cash Flow is not necessarily comparable to such other similarly titled captions of other companies.
The presentation of non-GAAP Free Cash Flow is not meant to be considered in isolation or as an alternative to net income as an indicator of the Company's performance, or as an alternative to cash flows from
operating activities as a measure of liquidity as those terms are defined by GAAP, and does not necessarily indicate whether cash flows will be sufficient to fund cash needs. The Company's definition of Free
Cash Flow is limited in that it does not represent residual cash flows available for discretionary expenditures due to the fact that the measure does not deduct the payments required for debt service and other
contractual obligations or payments made for business acquisitions. Therefore, the Company believes it is important to view Free Cash Flow as a measure that provides supplemental information to the
Company's Condensed Consolidated Statements of Cash Flows.
The following table sets forth a reconciliation of Free Cash Flow, a non-GAAP financial measure, to Net cash provided by (used in) operating activities, which the Company believes to be the GAAP financial measure
most directly comparable to Free Cash Flow, as well as information regarding Net cash provided by (used in) investing activities and Net cash provided by (used in) financing activities.
TM
Three Months Ended
September 30,
Nine Months Ended
September 30,
2021
2020
2021
2020
Net cash provided by (used in) operating activities
Less: Net cash used in (provided by) operating
activities of discontinued operations
Net cash provided by (used in) operating activities of
continuing operations
$
1,144 $
1,596
$
2,980 $
3,196
(11)
1
(13)
8
1,133
1,597
2,967
3,204
Less: Additions to property, plant and mine
development
(398)
(296)
Free Cash Flow
$
735 $
1,301
$
(1,212)
1,755
(904)
$
2,300
Net cash provided by (used in) investing activities (1)
Net cash provided by (used in) financing activities
$
$
(390) $
(697) $
(337) $
(242) $
(1,517) $
502
(2,363) $
(1,119)
(1) Net cash provided by (used in) investing activities includes Additions to property, plant and mine development, which is included in the Company's computation of Free Cash Flow.
DECEMBER 2021 INVESTOR PRESENTATION
NEWMONT CORPORATION
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