EX-12 4 d897461dex12.htm EX-12 EX-12

Exhibit 12

Alcoa and subsidiaries

Computation of Ratio of Earnings to Fixed Charges

(in millions, except ratio)

 

Three months ended March 31,

    2015  

Earnings:

   

Income before income taxes

    $ 481   

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

      —     

Equity loss

      4   

Fixed charges added to earnings

      131   

Distributed income of less than 50 percent-owned persons

      20   

Amortization of capitalized interest:

   

Consolidated

      11   

Proportionate share of 50 percent-owned persons

      —     
  

 

 

  

Total earnings

 $ 647   
  

 

 

  

Fixed Charges:

Interest expense:

Consolidated

 $ 122   

Proportionate share of 50 percent-owned persons

   —     
  

 

 

  
$ 122   
  

 

 

  

Amount representative of the interest factor in rents:

Consolidated

 $ 9   

Proportionate share of 50 percent-owned persons

   —     
  

 

 

  
$ 9   
  

 

 

  

Fixed charges added to earnings

 $ 131   
  

 

 

  

Interest capitalized:

Consolidated

 $ 15   

Proportionate share of 50 percent-owned persons

   —     
  

 

 

  
$ 15   
  

 

 

  

Preferred stock dividend requirements of majority-owned subsidiaries

   —     
  

 

 

  

Total fixed charges

 $ 146   
  

 

 

  

Ratio of earnings to fixed charges

   4.4