EX-12.2 10 m06882orex12-2.txt EXHIBIT 12.2 EXHIBIT 12.2 ALCAN INC. COMPUTATION OF EARNINGS TO FIXED CHARGES US GAAP (IN MILLIONS OF US DOLLARS)
YEAR ---------------------------------------- 2001 2000 1999 1998 1997 ---------------------------------------- Consolidated net income (loss) before Extraordinary item (54) 606 455 417 504 Less: Equity income of less than 50% owned companies 3 4 (1) (48) (33) Plus: Dividends received from less than 50% owned companies 2 1 1 5 6 Plus: Minority interest of subsidiaries that have fixed charges (13) (1) 14 (4) 4 ---------------------------------------- SUBTOTAL (68) 602 471 466 547 ---------------------------------------- FIXED CHARGES Amount representative of interest factor in Rentals 24 19 19 28 23 Amount representative of interest factor in rentals, 50% owned companies 0 0 0 0 0 Interest expense - net 254 78 76 92 101 Interest expense, 50% owned companies 0 0 0 0 0 Capitalized interest 30 81 41 15 2 Capitalized interest, 50% owned companies 0 0 0 0 0 ---------------------------------------- TOTAL FIXED CHARGES 308 178 136 135 126 ======================================== Less: Capitalized interest 30 81 41 15 2 ======================================== FIXED CHARGES ADDED TO INCOME/(LOSS) 278 97 95 120 124 ======================================== Plus: Amortization of capitalized interest 25 21 18 15 16 ======================================== Income taxes 7 259 211 210 211 ======================================== EARNINGS BEFORE FIXED CHARGES AND INCOME TAXES 242 979 795 811 898 ======================================== RATIO OF EARNINGS TO FIXED CHARGES 0.79 5.50 5.85 6.01 7.13 ========================================