EX-12 2 dex12.htm COMPUTATION OF RATIO OF EARNINGS Computation of Ratio of Earnings
Alcoa and subsidiaries   EXHIBIT 12

 

Computation of Ratio of Earnings to Fixed Charges

For the nine months ended September 30, 2005

(in millions, except ratio)

 

Nine months ended September 30

    2005

Earnings:

       

Income from continuing operations before taxes on income

    $ 1,551

Minority interests’ share of earnings of majority-owned subsidiaries without fixed charges

      —  

Equity income

      —  

Fixed charges

      295

Distributed income of less than 50%-owned persons

      30

Amortization of capitalized interest

      20
    

Total earnings

    $ 1,896
    

Fixed Charges:

       

Interest expense:

       

Consolidated

    $ 261

Proportionate share of 50%-owned persons

      2
    
     $ 263
    

Amount representative of the interest factor in rents:

       

Consolidated

    $ 31

Proportionate share of 50%-owned persons

      1
    
     $ 32
    

Fixed charges added to earnings

    $ 295
    

Interest capitalized:

       

Consolidated

    $ 28

Proportionate share of 50%-owned persons

      —  
    
     $ 28
    

Preferred stock dividend requirements of majority-owned subsidiaries

      —  
    

Total fixed charges

    $ 323
    

Ratio of earnings to fixed charges

      5.9
    

 

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