EX-12 2 d739676dex12.htm EX-12 EX-12

Exhibit 12

Alcoa and subsidiaries

Computation of Ratio of Earnings to Fixed Charges

(in millions, except ratio)

 

Six months ended June 30,

   2014  

Earnings:

  

Loss before income taxes

   $ (67

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

     —     

Equity loss

     25   

Fixed charges added to earnings

     244   

Distributed income of less than 50 percent-owned persons

     43   

Amortization of capitalized interest:

  

Consolidated

     24   

Proportionate share of 50 percent-owned persons

     —     
  

 

 

 

Total earnings

   $ 269   
  

 

 

 

Fixed Charges:

  

Interest expense:

  

Consolidated

   $ 225   

Proportionate share of 50 percent-owned persons

     —     
  

 

 

 
   $ 225   
  

 

 

 

Amount representative of the interest factor in rents:

  

Consolidated

   $ 19   

Proportionate share of 50 percent-owned persons

     —     
  

 

 

 
   $ 19   
  

 

 

 

Fixed charges added to earnings

   $ 244   
  

 

 

 

Interest capitalized:

  

Consolidated

   $ 27   

Proportionate share of 50 percent-owned persons

     —     
  

 

 

 
   $ 27   
  

 

 

 

Preferred stock dividend requirements of majority-owned subsidiaries

     —     
  

 

 

 

Total fixed charges

   $ 271   
  

 

 

 

Ratio of earnings to fixed charges

     (A
  

 

 

 

 

(A) For the six months ended June 30, 2014, there was a deficiency in earnings of $2 to cover total fixed charges.