NEWMONT CORP /DE/, DEF 14A filed on 3/10/2023
Proxy Statement (definitive)
v3.22.4
Cover
 12 Months Ended
Dec. 31, 2022
Document Information [Line Items]  
Document Type DEF 14A
Amendment Flag false
Entity Information [Line Items]  
Entity Registrant Name Newmont Corporation
Entity Central Index Key 0001164727
v3.22.4
Pay vs Performance Disclosure
 9 Months Ended 12 Months Ended 27 Months Ended
Dec. 31, 2022
USD ($)
$ / shares
Dec. 31, 2022
USD ($)
$ / shares
Dec. 31, 2021
USD ($)
$ / shares
Dec. 31, 2020
USD ($)
$ / shares
Mar. 25, 2022
USD ($)
Jul. 26, 2022
$ / shares
Feb. 25, 2022
$ / shares
Feb. 24, 2022
$ / shares
Feb. 22, 2022
$ / shares
Jul. 26, 2021
$ / shares
Feb. 26, 2021
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Feb. 25, 2021
$ / shares
Feb. 24, 2021
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Feb. 22, 2021
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Jul. 28, 2020
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Jul. 27, 2020
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Feb. 27, 2020
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Feb. 05, 2020
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Dec. 31, 2019
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Pay vs Performance Disclosure [Table]                                        
Pay vs Performance [Table Text Block]  
Pay Versus Performance Table
As required by and in accordance with Section 953(a) of the Dodd — Frank Wall Street Reform and Consumer Protection Act, the following disclosure summarizes the relationship between the executive compensation actually paid by the Company and the financial performance of Newmont over a three-year performance period.
​
YEAR
​ ​
SUMMARY
COMPENSATION
TABLE TOTAL
FOR PEO(1)
​ ​
COMPENSATION
ACTUALLY
PAID TO PEO(1)
​ ​
AVERAGE
SUMMARY
COMPENSATION
TABLE FOR
NON-PEO
NEOS(2)
​ ​
AVERAGE
COMPENSATION
ACTUALLY
PAID TO
NON-PEO
NEOS(2)
​ ​
VALUE OF INITIAL
FIXED $100
INVESTMENT
BASED ON:
​ ​
NET
INCOME (M) (4)
​ ​
CPB
COMPANY
ADJUSTED
EBITDA (M) (5)
​
​
TOTAL
SHARE-
HOLDER
RETURN
​ ​
PEER
GROUP
TOTAL
SHARE-
HOLDER
RETURN(3)
​
​
2022
​ ​ ​ $ 13,654,538 ​ ​ ​ ​ $ 3,407,020 ​ ​ ​ ​ $ 4,506,729 ​ ​ ​ ​ $ 1,907,706 ​ ​ ​ ​ $ 119.35 ​ ​ ​ ​ $ 121.33 ​ ​ ​ ​ $ (369) ​ ​ ​ ​ $ 3,562 ​ ​
​
2021
​ ​ ​ $ 12,667,106 ​ ​ ​ ​ $ 15,415,524 ​ ​ ​ ​ $ 3,922,861 ​ ​ ​ ​ $ 3,707,302 ​ ​ ​ ​ $ 150.69 ​ ​ ​ ​ $ 128.18 ​ ​ ​ ​ $ 233 ​ ​ ​ ​ $ 4,519 ​ ​
​
2020
​ ​ ​ $ 12,202,285 ​ ​ ​ ​ $ 14,852,971 ​ ​ ​ ​ $ 4,943,217 ​ ​ ​ ​ $ 7,252,318 ​ ​ ​ ​ $ 140.28 ​ ​ ​ ​ $ 123.67 ​ ​ ​ ​ $ 2,791 ​ ​ ​ ​ $ 4,059 ​ ​
(1)
In his capacity as Chief Executive Officer, Mr. Palmer is included as our PEO for 2022, 2021, and 2020. See the Summary Compensation Table Total versus Compensation Actually Paid Reconciliation Table below for additional details.
​
(2)
In 2022, the Non-PEO NEOs comprises Mr. Tabolt (prorated based on November 1 Acting CFO start date), Mr. Atkinson, Ms. Lipson, Mr. Toth (prorated based on July 1 hire date), and Ms. Buese (prorated based on November 1 CFO end date). In 2021, the Non-PEO NEOs comprises Ms. Buese, Mr. Atkinson, Mr. Gottesfeld, and Ms. Lipson. In 2020, the Non-PEO NEOs comprises Ms. Buese, Mr. Atkinson, Mr. Engel, and Mr. Gottesfeld. See Summary Compensation Table Total versus Compensation Actually Paid Reconciliation Table for additional details.
​
(3)
Peer Group TSR is market cap weighted and comprises the following companies (peers published in Newmont’s 2022 Annual Report): Agnico Eagle Mines Ltd (AEM US); Anglogold Ashanti Ltd (AU US); Freeport (FCX US), Gold Fields Ltd (GFI US); Barrick Gold Corp (GOLD US); Harmony Gold Mining Co Ltd (HMY US); Kinross Gold Corp (KGC US), and Newcrest Mining Ltd (NCM AU).
​
(4)
Represents Company Net Income as disclosed in respective year’s Newmont’s Annual Report on Form 10-K.
​
(5)
“CPB Adjusted” measures as used in this Compensation Discussion & Analysis refers to such Corporate Performance Bonus Measures. Details of the reconciliation can be found in Annex A-1.
​
Summary Compensation Table Total versus Compensation Actually Paid Reconciliation Table
​
ADJUSTMENTS(6)(7) (8)
 ​ ​ ​ ​ ​
PEO
​ ​
OTHER NEO AVERAGE
​
​ ​ ​ ​
2022
​ ​
2021
​ ​
2020
​ ​
2022
​ ​
2021
​ ​
2020
​
​ Summary Compensation Table Total ​ ​ ​ ​ ​ ​ $ 13,654,538 ​ ​ ​ ​ $ 12,667,106 ​ ​ ​ ​ $ 12,202,285 ​ ​ ​ ​ $ 4,506,729 ​ ​ ​ ​ $ 3,922,861 ​ ​ ​ ​ $ 4,943,217 ​ ​
​ Deduction for amount reported in “Stock Awards” column of the Summary Compensation Table ​ ​
(-)
​ ​ ​ $ 10,132,164 ​ ​ ​ ​ $ 8,566,067 ​ ​ ​ ​ $ 7,659,869 ​ ​ ​ ​ $ 2,505,973 ​ ​ ​ ​ $ 2,287,820 ​ ​ ​ ​ $ 2,639,891 ​ ​
​
Deduction for amounts reported in “Option
Awards” column of the Summary
Compensation Table
​ ​
(-)
​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​
​
Addition of fair value at fiscal year (FY) end,
of equity awards granted during the FY that
remained outstanding
​ ​
(+)
​ ​ ​ $ 6,409,104 ​ ​ ​ ​ $ 10,094,687 ​ ​ ​ ​ $ 9,490,638 ​ ​ ​ ​ $ 1,615,465 ​ ​ ​ ​ $ 2,696,083 ​ ​ ​ ​ $ 3,270,846 ​ ​
​ Addition of fair value at vesting date, of equity awards granted during the FY that vested during the FY ​ ​
(+)
​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​
​
Addition of change in fair value at FY end versus prior FY end for awards granted in prior FY that remained outstanding
​ ​
(+)
​ ​ ​ $ (6,161,789) ​ ​ ​ ​ $ 3,757,541 ​ ​ ​ ​ $ 2,114,057 ​ ​ ​ ​ $ (1,355,096) ​ ​ ​ ​ $ 672,482 ​ ​ ​ ​ $ 1,179,673 ​ ​
​ Addition of change in fair value at vesting
date versus prior FY end for awards granted
in prior FY that vested during the FY 		​ ​
(+)
​ ​ ​ $ (1,432,304) ​ ​ ​ ​ $ (2,698,509) ​ ​ ​ ​ $ (1,096,571) ​ ​ ​ ​ $ (574,690) ​ ​ ​ ​ $ (1,357,393) ​ ​ ​ ​ $ 863,441 ​ ​
​
Deduction of the fair value at the prior FY end for awards granted in prior FY that failed to meet their vesting conditions
​ ​
(-)
​ ​ ​ $ - ​ ​ ​ ​ $ 291,792 ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ 116,408 ​ ​ ​ ​ $ - ​ ​
​
Addition in respect of any dividends accrued
or other earnings paid during applicable FY
prior to vesting date of underlying award
​ ​
(+)
​ ​ ​ $ 806,513 ​ ​ ​ ​ $ 769,710 ​ ​ ​ ​ $ 305,363 ​ ​ ​ ​ $ 128,864 ​ ​ ​ ​ $ 246,121 ​ ​ ​ ​ $ 163,566 ​ ​
​ Addition of incremental fair value of in respect of any options or SARS modified during the FY ​ ​
(+)
​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​
​
Deduction for values reported in the
“Change in Pension Value and Nonqualified
Deferred Compensation Earnings” column
of the Summary Compensation Table
​ ​
(-)
​ ​ ​ $ 66,595 ​ ​ ​ ​ $ 606,521 ​ ​ ​ ​ $ 602,107 ​ ​ ​ ​ $ 31,278 ​ ​ ​ ​ $ 241,736 ​ ​ ​ ​ $ 741,074 ​ ​
​ Addition for the Service Cost attributable to
services rendered during the FY 		​ ​
(+)
​ ​ ​ $ 329,717 ​ ​ ​ ​ $ 289,369 ​ ​ ​ ​ $ 99,175 ​ ​ ​ ​ $ 123,685 ​ ​ ​ ​ $ 173,112 ​ ​ ​ ​ $ 212,540 ​ ​
​
Addition for the prior Service Cost in respect
of a plan amendment or initiation during
the FY
​ ​
(+)
​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​
​
Compensation Actually Paid
​ ​ ​ ​ ​ ​ $ 3,407,020 ​ ​ ​ ​ $ 15,415,524 ​ ​ ​ ​ $ 14,852,971 ​ ​ ​ ​ $ 1,907,706 ​ ​ ​ ​ $ 3,707,302 ​ ​ ​ ​ $ 7,252,318 ​ ​
​
(6)
Equity valuations have been calculated in accordance with the requirements for Compensation Actually Paid. Adjustment for restricted stock units represents the sum of changes in fair value during the fiscal year. The fair market values at the end of the fiscal years were December 30, 2022= $47.20; December 31,2021= $62.02; December 31, 2020= $59.89; and December 31, 2019= $43.45. The restricted stock unit awards vest pro-ratably over three years. See the Compensation Discussion and Analysis for a description of this award and the rationale. The fair market values per share for restricted stock units on the following vest dates are as follows: 2/25/2020 = $50.07, 2/26/2020 = $49.17, 2/27/2020 = $48.30, 7/27/2020 = $69.20, 7/28/2020 = $68.23, 2/22/2021 = $57.12, 2/24/2021 = $56.76, 2/25/2021 = $56.63, 2/26/2021 = 55.01, 7/26/2021 = $60.59, 2/22/2022 = $67.67, 2/24/​2022 = $67.90, 2/25/2022 = $67.07, 7/26/2022 = $44.59 (2020 Plan) and $45.81 (2013 Plan).
​
(7)
Equity valuations have been calculated in accordance with the requirements for Compensation Actually Paid. Adjustment for performance stock units represents the sum of changes in fair value during the fiscal year. The performance stock unit awards vest with a three-year cliff. Pursuant to ASC 718, the grant date fair value of Performance Stock Units (“PSU”) is determined by multiplying the target number of shares by a Monte Carlo calculation model which determined a grant date fair value for the 2017 to 2020 program, 2019 fair value = $52.21 and 2/27/2020 vest date fair market value = $48.30; 2018 to 2021 program, 2019 fair value = $40.89, 2020 fair value = $52.33, and 2/26/2021 vest date fair market value = $55.01; for the 2019 to 2022 program 2019 fair value = $47.24, 2020 fair value = $71.44, 2021 fair value = $98.67, and 2/25/2022 vest date fair market value = $67.07; for the 2020 to 2023 program 2020 fair value = $74.67, 2021 fair value = $107.46, and 2022 fair value = $89.85; for the 2021 to 2024 program 2021 fair value = $80.06 and 2022 fair value = $57.58; and for the 2022 to 2025 program 2022 fair value = $46.14. The Monte Carlo model is further described in the Newmont’s Annual Report on Form 10-K for the year ended December 31, 2022. The maximum value of the Performance Stock Units is 200% of target. See the Compensation Discussion and Analysis for a description of this award and the rationale.
​
(8)
The total pension benefit adjustments for each applicable year includes the aggregate of two components: (i) the actuarially determined service cost for services rendered during the applicable year (“service cost”), and (ii) the entire cost of benefits
​
granted in a plan amendment during the applicable year that are attributed by the benefit formula to services rendered in periods prior to the plan amendment (“prior service cost”), which was $0, in each case calculated in accordance with U.S. GAAP using the same methodologies the Company uses for its financial statements. Service cost for fiscal 2022 for the Qualified Plan was remeasured due to the settlement accounting required from the retiree annuity purchase on March 25, 2022. The discount rate used for determining the service cost reflected 3.03% from January 1, 2022, through March 25, 2022, and 4.09% from March 26, 2022 through December 31, 2022. The amount of service cost was $0 for Mr. Tabolt for 2022, 2021, and 2020, Mr. Atkinson for 2021 and 2020, Mr. Toth for 2022, 2021, and 2020, Mr. Gottesfeld for 2022, and Mr. Engel for 2022 and 2021 due to ineligibility to participate in our Pension Plan and Pension Equalization Plan and be included in relevant census data for each respective year, based on the same methodologies that the Company uses to compute service cost for its financial statements under U.S. GAAP. All assumptions are consistent with those used in our preliminary expense letters issued for fiscal years 2020, 2021, and 2022 issued March 16, 2020, March 8, 2021, and February 24, 2022 and April 5, 2022, respectively.
                                   
Named Executive Officers, Footnote [Text Block]  
(1)
In his capacity as Chief Executive Officer, Mr. Palmer is included as our PEO for 2022, 2021, and 2020. See the Summary Compensation Table Total versus Compensation Actually Paid Reconciliation Table below for additional details.
​
(2)
In 2022, the Non-PEO NEOs comprises Mr. Tabolt (prorated based on November 1 Acting CFO start date), Mr. Atkinson, Ms. Lipson, Mr. Toth (prorated based on July 1 hire date), and Ms. Buese (prorated based on November 1 CFO end date). In 2021, the Non-PEO NEOs comprises Ms. Buese, Mr. Atkinson, Mr. Gottesfeld, and Ms. Lipson. In 2020, the Non-PEO NEOs comprises Ms. Buese, Mr. Atkinson, Mr. Engel, and Mr. Gottesfeld. See Summary Compensation Table Total versus Compensation Actually Paid Reconciliation Table for additional details.
                                   
Peer Group Issuers, Footnote [Text Block]  
(3)
Peer Group TSR is market cap weighted and comprises the following companies (peers published in Newmont’s 2022 Annual Report): Agnico Eagle Mines Ltd (AEM US); Anglogold Ashanti Ltd (AU US); Freeport (FCX US), Gold Fields Ltd (GFI US); Barrick Gold Corp (GOLD US); Harmony Gold Mining Co Ltd (HMY US); Kinross Gold Corp (KGC US), and Newcrest Mining Ltd (NCM AU).
                                   
PEO Total Compensation Amount   $ 13,654,538 $ 12,667,106 $ 12,202,285                                
PEO Actually Paid Compensation Amount   $ 3,407,020 15,415,524 14,852,971                                
Adjustment To PEO Compensation, Footnote [Text Block]  
(5)
“CPB Adjusted” measures as used in this Compensation Discussion & Analysis refers to such Corporate Performance Bonus Measures. Details of the reconciliation can be found in Annex A-1.
​
Summary Compensation Table Total versus Compensation Actually Paid Reconciliation Table
​
ADJUSTMENTS(6)(7) (8)
 ​ ​ ​ ​ ​
PEO
​ ​
OTHER NEO AVERAGE
​
​ ​ ​ ​
2022
​ ​
2021
​ ​
2020
​ ​
2022
​ ​
2021
​ ​
2020
​
​ Summary Compensation Table Total ​ ​ ​ ​ ​ ​ $ 13,654,538 ​ ​ ​ ​ $ 12,667,106 ​ ​ ​ ​ $ 12,202,285 ​ ​ ​ ​ $ 4,506,729 ​ ​ ​ ​ $ 3,922,861 ​ ​ ​ ​ $ 4,943,217 ​ ​
​ Deduction for amount reported in “Stock Awards” column of the Summary Compensation Table ​ ​
(-)
​ ​ ​ $ 10,132,164 ​ ​ ​ ​ $ 8,566,067 ​ ​ ​ ​ $ 7,659,869 ​ ​ ​ ​ $ 2,505,973 ​ ​ ​ ​ $ 2,287,820 ​ ​ ​ ​ $ 2,639,891 ​ ​
​
Deduction for amounts reported in “Option
Awards” column of the Summary
Compensation Table
​ ​
(-)
​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​
​
Addition of fair value at fiscal year (FY) end,
of equity awards granted during the FY that
remained outstanding
​ ​
(+)
​ ​ ​ $ 6,409,104 ​ ​ ​ ​ $ 10,094,687 ​ ​ ​ ​ $ 9,490,638 ​ ​ ​ ​ $ 1,615,465 ​ ​ ​ ​ $ 2,696,083 ​ ​ ​ ​ $ 3,270,846 ​ ​
​ Addition of fair value at vesting date, of equity awards granted during the FY that vested during the FY ​ ​
(+)
​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​
​
Addition of change in fair value at FY end versus prior FY end for awards granted in prior FY that remained outstanding
​ ​
(+)
​ ​ ​ $ (6,161,789) ​ ​ ​ ​ $ 3,757,541 ​ ​ ​ ​ $ 2,114,057 ​ ​ ​ ​ $ (1,355,096) ​ ​ ​ ​ $ 672,482 ​ ​ ​ ​ $ 1,179,673 ​ ​
​ Addition of change in fair value at vesting
date versus prior FY end for awards granted
in prior FY that vested during the FY 		​ ​
(+)
​ ​ ​ $ (1,432,304) ​ ​ ​ ​ $ (2,698,509) ​ ​ ​ ​ $ (1,096,571) ​ ​ ​ ​ $ (574,690) ​ ​ ​ ​ $ (1,357,393) ​ ​ ​ ​ $ 863,441 ​ ​
​
Deduction of the fair value at the prior FY end for awards granted in prior FY that failed to meet their vesting conditions
​ ​
(-)
​ ​ ​ $ - ​ ​ ​ ​ $ 291,792 ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ 116,408 ​ ​ ​ ​ $ - ​ ​
​
Addition in respect of any dividends accrued
or other earnings paid during applicable FY
prior to vesting date of underlying award
​ ​
(+)
​ ​ ​ $ 806,513 ​ ​ ​ ​ $ 769,710 ​ ​ ​ ​ $ 305,363 ​ ​ ​ ​ $ 128,864 ​ ​ ​ ​ $ 246,121 ​ ​ ​ ​ $ 163,566 ​ ​
​ Addition of incremental fair value of in respect of any options or SARS modified during the FY ​ ​
(+)
​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​
​
Deduction for values reported in the
“Change in Pension Value and Nonqualified
Deferred Compensation Earnings” column
of the Summary Compensation Table
​ ​
(-)
​ ​ ​ $ 66,595 ​ ​ ​ ​ $ 606,521 ​ ​ ​ ​ $ 602,107 ​ ​ ​ ​ $ 31,278 ​ ​ ​ ​ $ 241,736 ​ ​ ​ ​ $ 741,074 ​ ​
​ Addition for the Service Cost attributable to
services rendered during the FY 		​ ​
(+)
​ ​ ​ $ 329,717 ​ ​ ​ ​ $ 289,369 ​ ​ ​ ​ $ 99,175 ​ ​ ​ ​ $ 123,685 ​ ​ ​ ​ $ 173,112 ​ ​ ​ ​ $ 212,540 ​ ​
​
Addition for the prior Service Cost in respect
of a plan amendment or initiation during
the FY
​ ​
(+)
​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​
​
Compensation Actually Paid
​ ​ ​ ​ ​ ​ $ 3,407,020 ​ ​ ​ ​ $ 15,415,524 ​ ​ ​ ​ $ 14,852,971 ​ ​ ​ ​ $ 1,907,706 ​ ​ ​ ​ $ 3,707,302 ​ ​ ​ ​ $ 7,252,318 ​ ​
​
(6)
Equity valuations have been calculated in accordance with the requirements for Compensation Actually Paid. Adjustment for restricted stock units represents the sum of changes in fair value during the fiscal year. The fair market values at the end of the fiscal years were December 30, 2022= $47.20; December 31,2021= $62.02; December 31, 2020= $59.89; and December 31, 2019= $43.45. The restricted stock unit awards vest pro-ratably over three years. See the Compensation Discussion and Analysis for a description of this award and the rationale. The fair market values per share for restricted stock units on the following vest dates are as follows: 2/25/2020 = $50.07, 2/26/2020 = $49.17, 2/27/2020 = $48.30, 7/27/2020 = $69.20, 7/28/2020 = $68.23, 2/22/2021 = $57.12, 2/24/2021 = $56.76, 2/25/2021 = $56.63, 2/26/2021 = 55.01, 7/26/2021 = $60.59, 2/22/2022 = $67.67, 2/24/​2022 = $67.90, 2/25/2022 = $67.07, 7/26/2022 = $44.59 (2020 Plan) and $45.81 (2013 Plan).
​
(7)
Equity valuations have been calculated in accordance with the requirements for Compensation Actually Paid. Adjustment for performance stock units represents the sum of changes in fair value during the fiscal year. The performance stock unit awards vest with a three-year cliff. Pursuant to ASC 718, the grant date fair value of Performance Stock Units (“PSU”) is determined by multiplying the target number of shares by a Monte Carlo calculation model which determined a grant date fair value for the 2017 to 2020 program, 2019 fair value = $52.21 and 2/27/2020 vest date fair market value = $48.30; 2018 to 2021 program, 2019 fair value = $40.89, 2020 fair value = $52.33, and 2/26/2021 vest date fair market value = $55.01; for the 2019 to 2022 program 2019 fair value = $47.24, 2020 fair value = $71.44, 2021 fair value = $98.67, and 2/25/2022 vest date fair market value = $67.07; for the 2020 to 2023 program 2020 fair value = $74.67, 2021 fair value = $107.46, and 2022 fair value = $89.85; for the 2021 to 2024 program 2021 fair value = $80.06 and 2022 fair value = $57.58; and for the 2022 to 2025 program 2022 fair value = $46.14. The Monte Carlo model is further described in the Newmont’s Annual Report on Form 10-K for the year ended December 31, 2022. The maximum value of the Performance Stock Units is 200% of target. See the Compensation Discussion and Analysis for a description of this award and the rationale.
​
(8)
The total pension benefit adjustments for each applicable year includes the aggregate of two components: (i) the actuarially determined service cost for services rendered during the applicable year (“service cost”), and (ii) the entire cost of benefits
​
granted in a plan amendment during the applicable year that are attributed by the benefit formula to services rendered in periods prior to the plan amendment (“prior service cost”), which was $0, in each case calculated in accordance with U.S. GAAP using the same methodologies the Company uses for its financial statements. Service cost for fiscal 2022 for the Qualified Plan was remeasured due to the settlement accounting required from the retiree annuity purchase on March 25, 2022. The discount rate used for determining the service cost reflected 3.03% from January 1, 2022, through March 25, 2022, and 4.09% from March 26, 2022 through December 31, 2022. The amount of service cost was $0 for Mr. Tabolt for 2022, 2021, and 2020, Mr. Atkinson for 2021 and 2020, Mr. Toth for 2022, 2021, and 2020, Mr. Gottesfeld for 2022, and Mr. Engel for 2022 and 2021 due to ineligibility to participate in our Pension Plan and Pension Equalization Plan and be included in relevant census data for each respective year, based on the same methodologies that the Company uses to compute service cost for its financial statements under U.S. GAAP. All assumptions are consistent with those used in our preliminary expense letters issued for fiscal years 2020, 2021, and 2022 issued March 16, 2020, March 8, 2021, and February 24, 2022 and April 5, 2022, respectively.
                                   
Non-PEO NEO Average Total Compensation Amount   $ 4,506,729 3,922,861 4,943,217                                
Non-PEO NEO Average Compensation Actually Paid Amount   $ 1,907,706 3,707,302 7,252,318                                
Adjustment to Non-PEO NEO Compensation Footnote [Text Block]  
(5)
“CPB Adjusted” measures as used in this Compensation Discussion & Analysis refers to such Corporate Performance Bonus Measures. Details of the reconciliation can be found in Annex A-1.
​
Summary Compensation Table Total versus Compensation Actually Paid Reconciliation Table
​
ADJUSTMENTS(6)(7) (8)
 ​ ​ ​ ​ ​
PEO
​ ​
OTHER NEO AVERAGE
​
​ ​ ​ ​
2022
​ ​
2021
​ ​
2020
​ ​
2022
​ ​
2021
​ ​
2020
​
​ Summary Compensation Table Total ​ ​ ​ ​ ​ ​ $ 13,654,538 ​ ​ ​ ​ $ 12,667,106 ​ ​ ​ ​ $ 12,202,285 ​ ​ ​ ​ $ 4,506,729 ​ ​ ​ ​ $ 3,922,861 ​ ​ ​ ​ $ 4,943,217 ​ ​
​ Deduction for amount reported in “Stock Awards” column of the Summary Compensation Table ​ ​
(-)
​ ​ ​ $ 10,132,164 ​ ​ ​ ​ $ 8,566,067 ​ ​ ​ ​ $ 7,659,869 ​ ​ ​ ​ $ 2,505,973 ​ ​ ​ ​ $ 2,287,820 ​ ​ ​ ​ $ 2,639,891 ​ ​
​
Deduction for amounts reported in “Option
Awards” column of the Summary
Compensation Table
​ ​
(-)
​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​
​
Addition of fair value at fiscal year (FY) end,
of equity awards granted during the FY that
remained outstanding
​ ​
(+)
​ ​ ​ $ 6,409,104 ​ ​ ​ ​ $ 10,094,687 ​ ​ ​ ​ $ 9,490,638 ​ ​ ​ ​ $ 1,615,465 ​ ​ ​ ​ $ 2,696,083 ​ ​ ​ ​ $ 3,270,846 ​ ​
​ Addition of fair value at vesting date, of equity awards granted during the FY that vested during the FY ​ ​
(+)
​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​
​
Addition of change in fair value at FY end versus prior FY end for awards granted in prior FY that remained outstanding
​ ​
(+)
​ ​ ​ $ (6,161,789) ​ ​ ​ ​ $ 3,757,541 ​ ​ ​ ​ $ 2,114,057 ​ ​ ​ ​ $ (1,355,096) ​ ​ ​ ​ $ 672,482 ​ ​ ​ ​ $ 1,179,673 ​ ​
​ Addition of change in fair value at vesting
date versus prior FY end for awards granted
in prior FY that vested during the FY 		​ ​
(+)
​ ​ ​ $ (1,432,304) ​ ​ ​ ​ $ (2,698,509) ​ ​ ​ ​ $ (1,096,571) ​ ​ ​ ​ $ (574,690) ​ ​ ​ ​ $ (1,357,393) ​ ​ ​ ​ $ 863,441 ​ ​
​
Deduction of the fair value at the prior FY end for awards granted in prior FY that failed to meet their vesting conditions
​ ​
(-)
​ ​ ​ $ - ​ ​ ​ ​ $ 291,792 ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ 116,408 ​ ​ ​ ​ $ - ​ ​
​
Addition in respect of any dividends accrued
or other earnings paid during applicable FY
prior to vesting date of underlying award
​ ​
(+)
​ ​ ​ $ 806,513 ​ ​ ​ ​ $ 769,710 ​ ​ ​ ​ $ 305,363 ​ ​ ​ ​ $ 128,864 ​ ​ ​ ​ $ 246,121 ​ ​ ​ ​ $ 163,566 ​ ​
​ Addition of incremental fair value of in respect of any options or SARS modified during the FY ​ ​
(+)
​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​ ​ ​ $ - ​ ​
​
Deduction for values reported in the
“Change in Pension Value and Nonqualified
Deferred Compensation Earnings” column
of the Summary Compensation Table
​ ​
(-)
​ ​ ​ $ 66,595 ​ ​ ​ ​ $ 606,521 ​ ​ ​ ​ $ 602,107 ​ ​ ​ ​ $ 31,278 ​ ​ ​ ​ $ 241,736 ​ ​ ​ ​ $ 741,074 ​ ​
​ Addition for the Service Cost attributable to
services rendered during the FY 		​ ​
(+)
​ ​ ​ $ 329,717 ​ ​ ​ ​ $ 289,369 ​ ​ ​ ​ $ 99,175 ​ ​ ​ ​ $ 123,685 ​ ​ ​ ​ $ 173,112 ​ ​ ​ ​ $ 212,540 ​ ​
​
Addition for the prior Service Cost in respect
of a plan amendment or initiation during
the FY
​ ​
(+)
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Compensation Actually Paid
​ ​ ​ ​ ​ ​ $ 3,407,020 ​ ​ ​ ​ $ 15,415,524 ​ ​ ​ ​ $ 14,852,971 ​ ​ ​ ​ $ 1,907,706 ​ ​ ​ ​ $ 3,707,302 ​ ​ ​ ​ $ 7,252,318 ​ ​
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(6)
Equity valuations have been calculated in accordance with the requirements for Compensation Actually Paid. Adjustment for restricted stock units represents the sum of changes in fair value during the fiscal year. The fair market values at the end of the fiscal years were December 30, 2022= $47.20; December 31,2021= $62.02; December 31, 2020= $59.89; and December 31, 2019= $43.45. The restricted stock unit awards vest pro-ratably over three years. See the Compensation Discussion and Analysis for a description of this award and the rationale. The fair market values per share for restricted stock units on the following vest dates are as follows: 2/25/2020 = $50.07, 2/26/2020 = $49.17, 2/27/2020 = $48.30, 7/27/2020 = $69.20, 7/28/2020 = $68.23, 2/22/2021 = $57.12, 2/24/2021 = $56.76, 2/25/2021 = $56.63, 2/26/2021 = 55.01, 7/26/2021 = $60.59, 2/22/2022 = $67.67, 2/24/​2022 = $67.90, 2/25/2022 = $67.07, 7/26/2022 = $44.59 (2020 Plan) and $45.81 (2013 Plan).
​
(7)
Equity valuations have been calculated in accordance with the requirements for Compensation Actually Paid. Adjustment for performance stock units represents the sum of changes in fair value during the fiscal year. The performance stock unit awards vest with a three-year cliff. Pursuant to ASC 718, the grant date fair value of Performance Stock Units (“PSU”) is determined by multiplying the target number of shares by a Monte Carlo calculation model which determined a grant date fair value for the 2017 to 2020 program, 2019 fair value = $52.21 and 2/27/2020 vest date fair market value = $48.30; 2018 to 2021 program, 2019 fair value = $40.89, 2020 fair value = $52.33, and 2/26/2021 vest date fair market value = $55.01; for the 2019 to 2022 program 2019 fair value = $47.24, 2020 fair value = $71.44, 2021 fair value = $98.67, and 2/25/2022 vest date fair market value = $67.07; for the 2020 to 2023 program 2020 fair value = $74.67, 2021 fair value = $107.46, and 2022 fair value = $89.85; for the 2021 to 2024 program 2021 fair value = $80.06 and 2022 fair value = $57.58; and for the 2022 to 2025 program 2022 fair value = $46.14. The Monte Carlo model is further described in the Newmont’s Annual Report on Form 10-K for the year ended December 31, 2022. The maximum value of the Performance Stock Units is 200% of target. See the Compensation Discussion and Analysis for a description of this award and the rationale.
​
(8)
The total pension benefit adjustments for each applicable year includes the aggregate of two components: (i) the actuarially determined service cost for services rendered during the applicable year (“service cost”), and (ii) the entire cost of benefits
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granted in a plan amendment during the applicable year that are attributed by the benefit formula to services rendered in periods prior to the plan amendment (“prior service cost”), which was $0, in each case calculated in accordance with U.S. GAAP using the same methodologies the Company uses for its financial statements. Service cost for fiscal 2022 for the Qualified Plan was remeasured due to the settlement accounting required from the retiree annuity purchase on March 25, 2022. The discount rate used for determining the service cost reflected 3.03% from January 1, 2022, through March 25, 2022, and 4.09% from March 26, 2022 through December 31, 2022. The amount of service cost was $0 for Mr. Tabolt for 2022, 2021, and 2020, Mr. Atkinson for 2021 and 2020, Mr. Toth for 2022, 2021, and 2020, Mr. Gottesfeld for 2022, and Mr. Engel for 2022 and 2021 due to ineligibility to participate in our Pension Plan and Pension Equalization Plan and be included in relevant census data for each respective year, based on the same methodologies that the Company uses to compute service cost for its financial statements under U.S. GAAP. All assumptions are consistent with those used in our preliminary expense letters issued for fiscal years 2020, 2021, and 2022 issued March 16, 2020, March 8, 2021, and February 24, 2022 and April 5, 2022, respectively.
                                   
Compensation Actually Paid vs. Total Shareholder Return [Text Block]  
Compensation Actually Paid Versus Company Performance
Executive compensation is linked strongly to the financial and operational performance of the business, with a majority of annual target compensation being variable and at risk. In 2022, 88.5% of the total target compensation for the principal executive officer (PEO) and 78.7% of non-PEO NEO pay, on average, was at risk and tied to performance measures that impact shareholder return, including CPB adjusted EBITDA.
The following chart provide a clear visual description of the relationship between Compensation Actually Paid and CPB adjusted EBITDA included in the Pay Versus Performance table above.
[MISSING IMAGE: bc_performance-pn.jpg]
                                   
Tabular List [Table Text Block]  
2022 Tabular List of Financial Performance Measures
​ Absolute Total Shareholder Return (TSR) ​
​ Company Performance Bonus Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (CPB Adjusted EBITDA) ​
​ Relative Total Shareholder Return (rTSR) ​
                                   
Total Shareholder Return Amount   $ 119.35 150.69 140.28                                
Peer Group Total Shareholder Return Amount   121.33 128.18 123.67                                
Net Income (Loss)   $ (369) $ 233 $ 2,791                                
Company Selected Measure Amount   3,562 4,519 4,059                                
PEO Name   Mr. Palmer                                    
Restricted Stock Units Per Share | $ / shares $ 47.2 $ 47.2 $ 62.02 $ 59.89     $ 67.07 $ 67.9 $ 67.67 $ 60.59 $ 55.01 $ 56.63 $ 56.76 $ 57.12 $ 68.23 $ 69.2 $ 48.3 $ 49.17 $ 50.07 $ 43.45
Performance Stock Units Payout Per Share For 2017 to 2020 Program | $ / shares                                 $ 48.3     52.21
Performance Stock Units Payout Per Share For 2018 to 2021 Program | $ / shares       52.33             $ 55.01                 40.89
Performance Stock Units Payout Per Share For 2019 to 2022 Program | $ / shares     98.67 71.44     $ 67.07                         $ 47.24
Performance Stock Units Payout Per Share For 2020 to 2023 Program | $ / shares 89.85 89.85 107.46 $ 74.67                                
Performance Stock Units Payout Per Share For 2021 to 2024 Program | $ / shares 57.58 57.58 $ 80.06                                  
Performance Stock Units Payout Per Share For 2022 to 2025 Program | $ / shares $ 46.14 $ 46.14                                    
Maximum Target in Performance Stock Units 200.00% 200.00%                                    
Discount rate For The Service Cost $ 4.09       $ 3.03                              
Measure [Axis]: 1                                        
Pay vs Performance Disclosure [Table]                                        
Measure Name   Absolute Total Shareholder Return (TSR)                                    
Measure [Axis]: 2                                        
Pay vs Performance Disclosure [Table]                                        
Measure Name   Company Performance Bonus Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (CPB Adjusted EBITDA)                                    
Measure [Axis]: 3                                        
Pay vs Performance Disclosure [Table]                                        
Measure Name   Relative Total Shareholder Return (rTSR)                                    
Pension Adjustments Service Cost [Member]                                        
Pay vs Performance Disclosure [Table]                                        
Adjustment to Compensation Amount       $ 0                                
2020 Plan [Member]                                        
Pay vs Performance Disclosure [Table]                                        
Restricted Stock Units Per Share | $ / shares           $ 44.59                            
2013 Plan [Member]                                        
Pay vs Performance Disclosure [Table]                                        
Restricted Stock Units Per Share | $ / shares           $ 45.81                            
Mr. Tabolt [Member]                                        
Pay vs Performance Disclosure [Table]                                        
Service Cost Amount   $ 0 $ 0 0                                
Mr. Atkinson [Member]                                        
Pay vs Performance Disclosure [Table]                                        
Service Cost Amount     0 0                                
Mr. Toth [Member]                                        
Pay vs Performance Disclosure [Table]                                        
Service Cost Amount   0 0 0                                
Mr. Gottesfeld [Member]                                        
Pay vs Performance Disclosure [Table]                                        
Service Cost Amount   0                                    
Mr. Engel [Member]                                        
Pay vs Performance Disclosure [Table]                                        
Service Cost Amount   $ 0 0                                  
PEO [Member]                                        
Pay vs Performance Disclosure [Table]                                        
Percentage Of Total Target Compensation   88.50%                                    
PEO [Member] | Stock Awards Value In Compensation Table For The Applicable Year Member                                        
Pay vs Performance Disclosure [Table]                                        
Adjustment to Compensation Amount   $ 10,132,164 8,566,067 7,659,869                                
PEO [Member] | Equity Awards Adjustments Year End Fair Value Of Awards Granted In Current Year Member                                        
Pay vs Performance Disclosure [Table]                                        
Adjustment to Compensation Amount   6,409,104 10,094,687 9,490,638                                
PEO [Member] | Change In Fair Value Of Outstanding And Unvested Awards Granted In Prior Fiscal Years [Member]                                        
Pay vs Performance Disclosure [Table]                                        
Adjustment to Compensation Amount   (6,161,789) 3,757,541 2,114,057                                
PEO [Member] | Change In Fair Value As Of Vesting Date Of Prior Year Awards Granted In Prior Fiscal Year Vested During Fiscal Year [Member]                                        
Pay vs Performance Disclosure [Table]                                        
Adjustment to Compensation Amount   (1,432,304) (2,698,509) (1,096,571)                                
PEO [Member] | Adjustments For Equity Awards Failed To Meet Performance Conditions [Member]                                        
Pay vs Performance Disclosure [Table]                                        
Adjustment to Compensation Amount     291,792                                  
PEO [Member] | Dividends Or Other Earnings Paid On Equity Awards Not Otherwise Reflected In Fair Value [Member]                                        
Pay vs Performance Disclosure [Table]                                        
Adjustment to Compensation Amount   806,513 769,710 305,363                                
PEO [Member] | Change in Pension Value and Nonqualified Deferred Compensation Earnings [Member]                                        
Pay vs Performance Disclosure [Table]                                        
Adjustment to Compensation Amount   66,595 606,521 602,107                                
PEO [Member] | Pension Adjustments Service Cost [Member]                                        
Pay vs Performance Disclosure [Table]                                        
Adjustment to Compensation Amount   $ 329,717 289,369 99,175                                
Non-PEO NEO [Member]                                        
Pay vs Performance Disclosure [Table]                                        
Percentage Of Total Target Compensation   78.70%                                    
Non-PEO NEO [Member] | Stock Awards Value In Compensation Table For The Applicable Year Member                                        
Pay vs Performance Disclosure [Table]                                        
Adjustment to Compensation Amount   $ 2,505,973 2,287,820 2,639,891                                
Non-PEO NEO [Member] | Equity Awards Adjustments Year End Fair Value Of Awards Granted In Current Year Member                                        
Pay vs Performance Disclosure [Table]                                        
Adjustment to Compensation Amount   1,615,465 2,696,083 3,270,846                                
Non-PEO NEO [Member] | Change In Fair Value Of Outstanding And Unvested Awards Granted In Prior Fiscal Years [Member]                                        
Pay vs Performance Disclosure [Table]                                        
Adjustment to Compensation Amount   (1,355,096) 672,482 1,179,673                                
Non-PEO NEO [Member] | Change In Fair Value As Of Vesting Date Of Prior Year Awards Granted In Prior Fiscal Year Vested During Fiscal Year [Member]                                        
Pay vs Performance Disclosure [Table]                                        
Adjustment to Compensation Amount   (574,690) (1,357,393) 863,441                                
Non-PEO NEO [Member] | Adjustments For Equity Awards Failed To Meet Performance Conditions [Member]                                        
Pay vs Performance Disclosure [Table]                                        
Adjustment to Compensation Amount     116,408                                  
Non-PEO NEO [Member] | Dividends Or Other Earnings Paid On Equity Awards Not Otherwise Reflected In Fair Value [Member]                                        
Pay vs Performance Disclosure [Table]                                        
Adjustment to Compensation Amount   128,864 246,121 163,566                                
Non-PEO NEO [Member] | Change in Pension Value and Nonqualified Deferred Compensation Earnings [Member]                                        
Pay vs Performance Disclosure [Table]                                        
Adjustment to Compensation Amount   31,278 241,736 741,074                                
Non-PEO NEO [Member] | Pension Adjustments Service Cost [Member]                                        
Pay vs Performance Disclosure [Table]                                        
Adjustment to Compensation Amount   $ 123,685 $ 173,112 $ 212,540