Stock Analysis on Net

Newmont Corp. (NYSE:NEM)

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Analysis of Debt

Microsoft Excel

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Total Debt (Carrying Amount)

Newmont Corp., balance sheet: debt

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Current finance lease and other financing obligations
Current debt
Non-current debt
Non-current finance lease and other financing obligations
Total debt, finance lease and other financing obligations (carrying amount)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Debt item Description The company
Total debt, finance lease and other financing obligations (carrying amount) Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations. Newmont Corp. total debt decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.

Total Debt (Fair Value)

Microsoft Excel
Dec 31, 2023
Selected Financial Data (US$ in millions)
Debt
Finance lease and other financing obligations
Total debt, finance lease and other financing obligations (fair value)
Financial Ratio
Debt, fair value to carrying amount ratio

Based on: 10-K (reporting date: 2023-12-31).


Weighted-average Interest Rate on Debt

Weighted-average interest rate on debt and finance leases:

Interest rate Debt amount1 Interest rate × Debt amount Weighted-average interest rate2
Total

Based on: 10-K (reporting date: 2023-12-31).

1 US$ in millions

2 Weighted-average interest rate = 100 × ÷ =


Interest Costs Incurred

Newmont Corp., interest costs incurred

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Interest expense, net of capitalized interest
Capitalized interest
Interest costs incurred

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Debt item Description The company
Interest expense, net of capitalized interest Amount of the cost of borrowed funds accounted for as interest expense for debt. Newmont Corp. interest expense, net of capitalized interest decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.
Capitalized interest Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred. Newmont Corp. capitalized interest increased from 2021 to 2022 and from 2022 to 2023.
Interest costs incurred Total interest costs incurred during the period and either capitalized or charged against earnings. Newmont Corp. interest costs incurred decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.

Adjusted Interest Coverage Ratio

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Newmont stockholders
Add: Net income attributable to noncontrolling interest
Less: Net income (loss) from discontinued operations
Add: Income tax expense
Add: Interest expense, net of capitalized interest
Earnings before interest and tax (EBIT)
 
Interest costs incurred
Financial Ratio With and Without Capitalized Interest
Interest coverage ratio (without capitalized interest)1
Adjusted interest coverage ratio (with capitalized interest)2

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

1 Interest coverage ratio (without capitalized interest) = EBIT ÷ Interest expense, net of capitalized interest
= ÷ =

2 Adjusted interest coverage ratio (with capitalized interest) = EBIT ÷ Interest costs incurred
= ÷ =


Solvency ratio Description The company
Adjusted interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments (including capitalized interest). Newmont Corp. adjusted interest coverage ratio deteriorated from 2021 to 2022 and from 2022 to 2023.