EX-12 3 d593859dex12.htm EX-12 EX-12

EXHIBIT 12

Alcoa and subsidiaries

Computation of Ratio of Earnings to Fixed Charges

(in millions, except ratio)

 

Nine months ended September 30,

    2013  

Earnings:

   

Income before income taxes

    $ 182   

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

      —     

Equity income

      (28 ) 

Fixed charges added to earnings

      371   

Distributed income of less than 50 percent-owned persons

      68   

Amortization of capitalized interest:

   

Consolidated

      34   

Proportionate share of 50 percent-owned persons

      —     
  

 

 

  

Total earnings

    $ 627   
  

 

 

  

Fixed Charges:

   

Interest expense:

   

Consolidated

    $ 341   

Proportionate share of 50 percent-owned persons

      —     
  

 

 

  
   $ 341   
  

 

 

  

Amount representative of the interest factor in rents:

   

Consolidated

    $ 30   

Proportionate share of 50 percent-owned persons

      —     
  

 

 

  
   $ 30   
  

 

 

  

Fixed charges added to earnings

    $ 371   
  

 

 

  

Interest capitalized:

   

Consolidated

    $ 75   

Proportionate share of 50 percent-owned persons

      —     
  

 

 

  
   $ 75   
  

 

 

  

Preferred stock dividend requirements of majority-owned subsidiaries

      —     
  

 

 

  

Total fixed charges

    $ 446   
  

 

 

  

Ratio of earnings to fixed charges

      1.4