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Newmont Mining Corp (NEM) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2014

Newmont Mining Corp

CIK: 1164727 Ticker: NEM

Exhibit 99.1

Newmont Announces Fourth Quarter and Full Year 2014 Operating and Financial Results and 2015 Outlook

DENVER--(BUSINESS WIRE)--February 19, 2015--Newmont Mining Corporation (NYSE: NEM) (“Newmont” or “the Company”) announced fourth quarter and full year 2014 results, including $1.5 billion in operating cash flow, $524 million of cost savings

1 and production in line with guidance for the year.

  • Net income: Reported quarterly and full year net income attributable to shareholders from continuing operations of $39 million or $0.08 per share for the fourth quarter and $548 million or $1.10 per share for the full year; adjusted net income2 was $86 million or $0.17 per share for the quarter and $545 million or $1.09 per share for the year
  • Consolidated cash flow: Generated cash flow from continuing operations of $562 million in the fourth quarter and $1.5 billion for 2014; free cash flow was $218 million in the fourth quarter and $341 million for the year, a $680 million improvement over 2013
  • Consolidated adjusted EBITDA3: Delivered earnings before interest, taxes, depreciation and amortization (EBITDA) of $652 million in the fourth quarter and $2.1 billion for the full year
  • Gold all-in sustaining costs (AISC)4: Lowered gold AISC to $927 per ounce in the fourth quarter, representing a second consecutive quarter of maintaining AISC below $1,000 per ounce; and $1,002 for the full year, a 10% improvement over 2013
  • Gold costs applicable to sales (CAS): Reduced gold CAS to $631 per ounce in the fourth quarter, and $706 per ounce for the full year, representing a 9% improvement over 2013
  • Attributable production: Produced 1.26 million ounces of gold in the fourth quarter and remained in line with guidance at 4.85 million ounces of gold for the year
  • Shareholder returns: Declared a fourth quarter dividend of $0.025 per share in accordance with the Company’s gold price-linked dividend policy5
  • Outlook6: Improved 2015 outlook through strong operating performance and expect attributable gold production of between 4.6 to 4.9 million ounces in 2015, at CAS of between $660 and $710 per ounce and AISC of between $960 and $1,020 per ounce in 2015

“We delivered on our commitment to improve operating costs and efficiencies, strengthen our balance sheet and progress our most promising projects in 2014. Highlights included generating $1.5 billion in cash from continuing operations and lowering our adjusted consolidated all-in sustaining costs by more than $500 million. We also generated almost $800 million in cash from asset sales while maintaining attributable gold production well within our original guidance range. Strong results allowed us to move forward with the development of Merian in Suriname, advance our Turf Vent Shaft project in Nevada, and improve our outlook. In 2015, we will continue to deliver improved costs and efficiency, fund our most promising projects and strengthen our balance sheet,” said Gary J. Goldberg, President and Chief Executive Officer.

1

 

Based upon Adjusted All-in sustaining costs. AISC is a Non-GAAP measure. See page 20 for reconciliation.

2

Non-GAAP measure. See page 10 for reconciliation.

3

Non-GAAP measure. See page 10-11 for reconciliation.

4

Non-GAAP measure. See pages 14-19 for reconciliation to costs applicable to sales.

5

Such policy is non-binding; declaration of future dividends remains subject to approval and discretion of the Board of Directors.

6

Outlook constitutes forward-looking statements, which are subject to risk and uncertainties. See Cautionary Note on page 22.

 

Fourth Quarter and Full Year 2014 Results

Net income attributable to shareholders from continuing operations was $39 million or $0.08 per share for the fourth quarter and $548 million or $1.10 per share for the full year, which compares favorably to $(1.2) billion or $(2.39) per share for the prior year quarter and $(2.6) billion and $(5.21) per share for 2013. Adjusted net income was $86 million or $0.17 per share in the fourth quarter and $545 million, or $1.09 per basic share for the full year, compared with $143 million or $0.28 per share for the prior year quarter, and $623 million, or $1.25 per basic share in 2013. The largest adjustments to net income in the fourth quarter include a loss from discontinued operations, as well as asset sales and tax valuation allowances primarily related to the sale of Newmont’s stake in the Penmont joint venture completed October 7, 2014.


The following information was filed by Newmont Mining Corp (NEM) on Friday, February 20, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Statements Of Consolidated Cash Flows
Statements Of Consolidated Changes In Equity
Statements Of Consolidated Comprehensive Income (loss)
Statements Of Consolidated Comprehensive Income (loss) (parenthetical)
Statements Of Consolidated Operations
Statements Of Consolidated Operations (parenthetical)
Commitments And Contingencies
Commitments And Contingencies - Additional Information (detail)
Condensed Consolidating Financial Statements
Condensed Consolidating Financial Statements (tables)
Condensed Consolidating Financial Statements - Additional Information (detail)
Condensed Consolidating Financial Statements - Condensed Consolidating Balance Sheet (detail)
Condensed Consolidating Financial Statements - Condensed Consolidating Statement Of Cash Flows (detail)
Condensed Consolidating Financial Statements - Condensed Consolidating Statement Of Operation (detail)
Debt
Debt (tables)
Debt - Additional Information (detail)
Debt - Convertible Senior Notes (detail)
Debt - Long-term Debt (detail)
Derivative Instruments
Derivative Instruments (tables)
Derivative Instruments - Additional Information (detail)
Derivative Instruments - Diesel Derivative Contracts Outstanding (detail)
Derivative Instruments - Fair Values Of Derivative Instruments Designated As Hedges (detail)
Derivative Instruments - Foreign Currency Derivative Contracts Outstanding (detail)
Derivative Instruments - Location And Amount Of Gains (losses) Reported In Condensed Consolidated Financial Statements (detail)
Discontinued Operations
Discontinued Operations - Additional Information (detail)
Employee Related Benefits
Employee Related Benefits (tables)
Employee Related Benefits - Additional Information (detail)
Employee Related Benefits - Asset Allocation (detail)
Employee Related Benefits - Benefit Obligations And Assets (detail)
Employee Related Benefits - Components Recognized In Other Comprehensive Income (loss) (detail)
Employee Related Benefits - Current And Long-term Employee-related Benefits (detail)
Employee Related Benefits - Effect Of One Percentage Point Change In Assumed Health Care Cost Trend Rates (detail)
Employee Related Benefits - Employee Pension And Other Benefit Plans (detail)
Employee Related Benefits - Fair Value Of Plan Assets (detail)
Employee Related Benefits - Net Pension Amounts Recognized In The Consolidated Balance Sheets (detail)
Employee Related Benefits - Significant Assumptions (detail)
Equity Income (loss) Of Affiliates
Equity Income (loss) Of Affiliates (tables)
Equity Income (loss) Of Affiliates - Additional Information (detail)
Equity Income (loss) Of Affiliates - Equity Income (loss) Of Affiliates (detail)
Fair Value Accounting
Fair Value Accounting (tables)
Fair Value Accounting - Additional Information (detail)
Fair Value Accounting - Changes In The Fair Value Of The Company's Level 3 Financial Assets And Liabilities (detail)
Fair Value Accounting - Fair Value Inputs Assets Liabilities Quantitative Information (detail)
Fair Value Accounting - Fair Value Measurement Of Assets And Liabilities (detail)
Income And Mining Taxes
Income And Mining Taxes (tables)
Income And Mining Taxes - Additional Information (detail)
Income And Mining Taxes - Components Of Deferred Tax Assets (liabilities) (detail)
Income And Mining Taxes - Income And Mining Tax (expense) Benefit - Current Vs Deferred (detail)
Income And Mining Taxes - Income And Mining Tax Expense Reconciliation (detail)
Income And Mining Taxes - Reconciliation Of Gross Unrecognized Tax Benefits (detail)
Income Before Income And Mining Tax And Other Items - Domestic Vs Foreign (detail)
Inventories
Inventories (tables)
Inventories - Additional Information (detail)
Inventories - Summary Of Inventories (detail)
Investments
Investments (tables)
Investments - Additional Information (detail)
Investments - Gross Unrealized Losses And Fair Value Of The Company's Investments (detail)
Investments - Investment In Marketable Securities (detail)
Net Change In Operating Assets And Liabilities
Net Change In Operating Assets And Liabilities (tables)
Net Change In Operating Assets And Liabilities - Net Cash Provided From Operations Attributable To Net Change In Operating Assets And Liabilities (detail)
Net Income (loss) Attributable To Noncontrolling Interests
Net Income (loss) Attributable To Noncontrolling Interests (tables)
Net Income (loss) Attributable To Noncontrolling Interests - Additional Information (detail)
Net Income (loss) Attributable To Noncontrolling Interests - Disclosure Of Net Income (loss) Attributable To Noncontrolling Interests (detail)
Net Income (loss) Attributable To Noncontrolling Interests - Summary Of Assets And Liabilities Inclusive Of Deferred Tax Assets And Deferred Tax Liabilities (detail)
Newmont Equity And Income (loss) Per Share
Newmont Equity And Income (loss) Per Share (tables)
Newmont Equity And Income (loss) Per Share - Additional Information (detail)
Newmont Equity And Income (loss) Per Share - Summary Of Income (loss) Per Common Share, Basic And Diluted (detail)
Operating Lease Commitments
Operating Lease Commitments (detail)
Other Assets
Other Assets (tables)
Other Assets - Other Assets (detail)
Other Expense, Net
Other Expense, Net (tables)
Other Expense, Net - Other Expense, Net (detail)
Other Income, Net
Other Income, Net (tables)
Other Income, Net - Other Income, Net (detail)
Other Liabilities
Other Liabilities (tables)
Other Liabilities - Other Liabilities (detail)
Property, Plant And Mine Development
Property, Plant And Mine Development (tables)
Property, Plant And Mine Development - Additional Information (detail)
Property, Plant And Mine Development - Property, Plant And Mine Development (detail)
Reclamation And Remediation
Reclamation And Remediation (tables)
Reclamation And Remediation - Additional Information (detail)
Reclamation And Remediation - Reclamation And Remediation Expense (detail)
Reclamation And Remediation - Reconciliation Of Reclamation And Remediation Liabilities (detail)
Reclassifications Out Of Accumulated Other Comprehensive Income (loss)
Reclassifications Out Of Accumulated Other Comprehensive Income (loss) (tables)
Reclassifications Out Of Accumulated Other Comprehensive Income (loss) - Components Of Accumulated Other Comprehensive Income (loss) (detail)
Reclassifications Out Of Accumulated Other Comprehensive Income (loss) - Schedule Of Reclassifications Out Of Accumulated Other Comprehensive Income (loss) (detail)
Schedule Ii - Valuation And Qualifying Accounts
Segment Information
Segment Information (tables)
Segment Information - Additional Information (detail)
Segment Information - Financial Information Of Company's Segments (detail)
Segment Information - Financial Information Of Company's Segments (parenthetical) (detail)
Segment Information - Long-lived Assets (detail)
Segment Information - Revenues From Sales Based On The Customer's Location (detail)
Stock Based Compensation
Stock Based Compensation (tables)
Stock Based Compensation - Additional Information (detail)
Stock Based Compensation - Black-scholes Option-pricing Model Assumptions (detail)
Stock Based Compensation - Stock Option And Other Stock Based Compensation (detail)
Stock Based Compensation - Stock Options Activity (detail)
Stock Based Compensation - Stock Options Outstanding And Exercisable (detail)
Stock Based Compensation - Stock Options Vested (detail)
Stockpiles And Ore On Leach Pads
Stockpiles And Ore On Leach Pads (tables)
Stockpiles And Ore On Leach Pads - Additional Information (detail)
Stockpiles And Ore On Leach Pads - Stockpiles And Ore On Leach Pads (detail)
Stockpiles And Ore On Leach Pads - Stockpiles And Ore On Leach Pads, By Segment (detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies - Additional Information (detail)
Supplemental Cash Flow Information
Supplemental Cash Flow Information (tables)
Supplemental Cash Flow Information - Additional Information (detail)
Supplemental Cash Flow Information - Supplemental Cash Flow Information (detail)
The Company
Unaudited Supplementary Data
Unaudited Supplementary Data (detail)
Unaudited Supplementary Data (tables)
Unaudited Supplementary Data - Additional Information (detail)
Valuation And Qualifying Accounts (detail)
Write-downs
Write-downs (tables)
Write-downs - Additional Information (detail)
Write-downs - Write-downs Of Property, Plant And Mine Development And Other Long-term Assets (detail)
Ticker: NEM
CIK: 1164727
Form Type: 10-K Annual Report
Accession Number: 0001564590-15-000777
Submitted to the SEC: Thu Feb 19 2015 9:44:44 PM EST
Accepted by the SEC: Fri Feb 20 2015
Period: Wednesday, December 31, 2014
Industry: Gold And Silver Ores

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