Exhibit 12

Alcoa and subsidiaries

Computation of Ratio of Earnings to Fixed Charges

(in millions, except ratio)

Three months ended March 31,	2010
Earnings:
Loss from continuing operations before income taxes	$	(88	)
Noncontrolling interests’ share of earnings of majority-owned subsidiaries without fixed charges		—
Equity income		(22	)
Fixed charges added to earnings		127
Distributed income of less than 50 percent-owned persons		7
Amortization of capitalized interest:
Consolidated		10
Proportionate share of 50 percent-owned persons		—
Total earnings	$	34
Fixed Charges:
Interest expense:
Consolidated	$	118
Proportionate share of 50 percent-owned persons		—
	$	118
Amount representative of the interest factor in rents:
Consolidated	$	9
Proportionate share of 50 percent-owned persons		—
	$	9
Fixed charges added to earnings	$	127
Interest capitalized:
Consolidated	$	23
Proportionate share of 50 percent-owned persons		—
	$	23
Preferred stock dividend requirements of majority-owned subsidiaries		—
Total fixed charges	$	150
Ratio of earnings to fixed charges		(A	)

(A) For the three months ended March 31, 2010, there was a deficiency in earnings of $116 to cover total fixed charges.