EX-12 4 d361646dex12.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)

 

Six months ended June 30,

    2012  

Earnings:

   

Income from continuing operations before income taxes

    $ 132   

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

      —     

Equity income

      (54 ) 

Fixed charges added to earnings

      266   

Distributed income of less than 50 percent-owned persons

      45   

Amortization of capitalized interest:

   

Consolidated

      22   

Proportionate share of 50 percent-owned persons

      —     
  

 

 

  

Total earnings

    $ 411   
  

 

 

  

Fixed Charges:

   

Interest expense:

   

Consolidated

    $ 246   

Proportionate share of 50 percent-owned persons

      —     
  

 

 

  
   $ 246   
  

 

 

  

Amount representative of the interest factor in rents:

   

Consolidated

    $ 20   

Proportionate share of 50 percent-owned persons

      —     
  

 

 

  
   $ 20   
  

 

 

  

Fixed charges added to earnings

    $ 266   
  

 

 

  

Interest capitalized:

   

Consolidated

    $ 47   

Proportionate share of 50 percent-owned persons

      —     
  

 

 

  
   $ 47   
  

 

 

  

Preferred stock dividend requirements of majority-owned subsidiaries

      —     
  

 

 

  

Total fixed charges

    $ 313   
  

 

 

  

Ratio of earnings to fixed charges

      1.3