EX-12 4 dex12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

Exhibit 12

Alcoa and subsidiaries

Computation of Ratio of Earnings to Fixed Charges

(in millions, except ratio)

 

Nine months ended September 30,

    2009  

Earnings:

   

Loss from continuing operations before income taxes

    $ (1,104 ) 

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

      —     

Equity income

      (38 ) 

Fixed charges added to earnings

      377   

Distributed income of less than 50 percent-owned persons

      42   

Amortization of capitalized interest:

   

Consolidated

      20   

Proportionate share of 50%-owned persons

      —     
        

Total earnings

    $ (703 ) 
        

Fixed Charges:

   

Interest expense:

   

Consolidated

    $ 349   

Proportionate share of 50 percent-owned persons

      —     
        
   $ 349   
        

Amount representative of the interest factor in rents:

   

Consolidated

    $ 28   

Proportionate share of 50 percent-owned persons

      —     
        
   $ 28   
        

Fixed charges added to earnings

    $ 377   
        

Interest capitalized:

   

Consolidated

    $ 137   

Proportionate share of 50 percent-owned persons

      —     
        
   $ 137   
        

Preferred stock dividend requirements of majority-owned subsidiaries

      —     
        

Total fixed charges

    $ 514   
        

Ratio of earnings to fixed charges

      (A ) 
        

 

(A) For the nine months ended September 30, 2009, there is a deficiency of earnings to cover the fixed charges of $1,217.