EX-12.1 3 m07126rgex12-1.txt EXHIBIT 12.1 EXHIBIT 12.1 ALCAN INC. COMPUTATION OF EARNINGS TO FIXED CHARGES CANADIAN GAAP (IN MILLIONS OF US DOLLARS)
THREE YEAR MONTHS ENDED ---------------------------------------- MARCH 31, 2002 2001 2000 1999 1998 1997 -------------- ---------------------------------------- Consolidated net income (loss) before Extraordinary item 86 5 618 460 399 468 Less: Equity income of less than 50% owned companies 1 3 4 (1) (48) (33) Plus: Dividends received from less than 50% owned companies 0 2 1 1 5 6 Plus: Minority interest of subsidiaries that have fixed charges 0 (13) (1) 14 (4) 4 --------------------------------------------------- SUBTOTAL 85 (9) 614 476 448 511 ---------------------------------------------------- FIXED CHARGES Amount representative of interest factor in Rentals 5 24 19 19 28 23 Amount representative of interest factor in rentals, 50% owned companies 0 0 0 0 0 0 Interest expense - net 50 254 78 76 92 101 Interest expense, 50% owned companies 0 0 0 0 0 0 Capitalized interest 0 30 81 41 15 2 Capitalized interest, 50% owned companies 0 0 0 0 0 0 --------------------------------------------------- TOTAL FIXED CHARGES 55 308 178 136 135 126 =================================================== Less: Capitalized interest 0 30 81 41 15 2 =================================================== FIXED CHARGES ADDED TO INCOME/(LOSS) 55 278 97 95 120 124 =================================================== Plus: Amortization of capitalized interest 6 25 21 18 15 16 =================================================== Income taxes 78 42 254 211 210 248 =================================================== EARNINGS BEFORE FIXED CHARGES AND INCOME TAXES 224 336 986 800 793 899 =================================================== RATIO OF EARNINGS TO FIXED CHARGES 4.07 1.09 5.54 5.88 5.87 7.13 ===================================================