EX-12 2 dex12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

Exhibit 12

Alcoa and subsidiaries

Computation of Ratio of Earnings to Fixed Charges

(in millions, except ratio)

 

Three months ended March 31,

    2011  

Earnings:

   

Income from continuing operations before income taxes

    $ 505   

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

      —     

Equity income

      (31 ) 

Fixed charges added to earnings

      121   

Distributed income of less than 50 percent-owned persons

      27   

Amortization of capitalized interest:

   

Consolidated

      10   

Proportionate share of 50 percent-owned persons

      —     
        

Total earnings

    $ 632   
        

Fixed Charges:

   

Interest expense:

   

Consolidated

    $ 111   

Proportionate share of 50 percent-owned persons

      —     
        
   $ 111   
        

Amount representative of the interest factor in rents:

   

Consolidated

    $ 10   

Proportionate share of 50 percent-owned persons

      —     
        
   $ 10   
        

Fixed charges added to earnings

    $ 121   
        

Interest capitalized:

   

Consolidated

    $ 28   

Proportionate share of 50 percent-owned persons

      —     
        
   $ 28   
        

Preferred stock dividend requirements of majority-owned subsidiaries

      —     
        

Total fixed charges

    $ 149   
        

Ratio of earnings to fixed charges

      4.2