EX-12 2 d325414dex12.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)

 

Three months ended March 31,

    2012  

Earnings:

   

Income from continuing operations before income taxes

    $ 138   

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

      —     

Equity income

      (31 ) 

Fixed charges added to earnings

      133   

Distributed income of less than 50 percent-owned persons

      24   

Amortization of capitalized interest:

   

Consolidated

      11   

Proportionate share of 50 percent-owned persons

      —     
  

 

 

  

Total earnings

    $ 275   
  

 

 

  

Fixed Charges:

   

Interest expense:

   

Consolidated

    $ 123   

Proportionate share of 50 percent-owned persons

      —     
  

 

 

  
   $ 123   
  

 

 

  

Amount representative of the interest factor in rents:

   

Consolidated

    $ 10   

Proportionate share of 50 percent-owned persons

      —     
  

 

 

  
   $ 10   
  

 

 

  

Fixed charges added to earnings

    $ 133   
  

 

 

  

Interest capitalized:

   

Consolidated

    $ 23   

Proportionate share of 50 percent-owned persons

      —     
  

 

 

  
   $ 23   
  

 

 

  

Preferred stock dividend requirements of majority-owned subsidiaries

      —     
  

 

 

  

Total fixed charges

    $ 156   
  

 

 

  

Ratio of earnings to fixed charges

      1.7