DECEMBER 2021 INVESTOR PRESENTATION
Net Debt to Adjusted EBITDA Ratio
N
Management uses net debt to Adjusted EBITDA as non-GAAP measures to evaluate the Company's operating performance, including our ability to generate earnings sufficient to service our debt. Net debt to
Adjusted EBITDA represents the ratio of the Company's debt, net of cash and cash equivalents, to Adjusted EBITDA. Net debt to Adjusted EBITDA does not represent, and should not be considered an alternative
to, net income (loss), operating income (loss), or cash flow from operations as those terms are defined by GAAP, and does not necessarily indicate whether cash flows will be sufficient to fund cash needs.
Although Net Debt to Adjusted EBITDA and similar measures are frequently used as measures of operations and the ability to meet debt service requirements by other companies, our calculation of net debt to
Adjusted EBITDA measure is not necessarily comparable to such other similarly titled captions of other companies. The Company believes that net debt to Adjusted EBITDA provides useful information to
investors and others in understanding and evaluating our operating results in the same manner as our management and Board of Directors. Management's determination of the components of net debt to
Adjusted EBITDA is evaluated periodically and based, in part, on a review of non-GAAP financial measures used by mining industry analysts. Net income (loss) attributable to Newmont stockholders is reconciled
to Adjusted EBITDA as follows:
TM
Net income (loss) attributable to Newmont stockholders
Three Months Ended
September 30, 2021
June 30, 2021
March 31, 2021
December 31, 2020
$
3
$
650
$
559
$
824
(246)
11
20
(60)
(11)
(10)
(21)
(18)
(39)
(49)
50
(70)
222
341
235
258
570
561
553
615
66
68
74
73
565
1,572
1,370
1,622
Net income (loss) attributable to noncontrolling interests
Net loss (income) from discontinued operations
Equity loss (income) of affiliates
Income and mining tax expense (benefit)
Depreciation and amortization
Interest expense, net of capitalized interest
EBITDA
EBITDA Adjustments:
Loss on assets held for sale
Change in fair value of investments
Reclamation and remediation charges
Impairment of long-lived and other assets
Loss (gain) on asset and investment sales
COVID-19 specific costs
Impairment of investments
79
6
(3)
1
1
122 = 1 - 185
དྷ8R ཋལྱེ- - | |
571
96
(26)
110
20
10
213
11
1
(43)
1
1
| །ྱཀྑ8སྐྱེམ |ཟླ॰
(61)
20
(84)
25
Settlement costs
Restructuring and severance
3
5
Pension settlements
Adjusted EBITDA
1,316
1,591
1,457
12 month trailing Adjusted EBITDA
$
6,136
Total Debt
$
5,482
Lease and other financing obligations
656
Less: Cash and cash equivalents
4,636
Total net debt
$
1,502
Net debt to adjusted EBITDA
0.2
DECEMBER 2021 INVESTOR PRESENTATION
7
1,772
NEWMONT CORPORATION
62
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