EX-12 6 d786672dex12.htm EX-12 EX-12

Exhibit 12

Alcoa and subsidiaries

Computation of Ratio of Earnings to Fixed Charges

(in millions, except ratio)

 

Nine months ended September 30,

    2014  

Earnings:

   

Income before income taxes

    $ 263   

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

      —     

Equity loss

      22   

Fixed charges added to earnings

      380   

Distributed income of less than 50 percent-owned persons

      66   

Amortization of capitalized interest:

   

Consolidated

      36   

Proportionate share of 50 percent-owned persons

      —     
  

 

 

  

Total earnings

    $ 767   
  

 

 

  

Fixed Charges:

   

Interest expense:

   

Consolidated

    $ 351   

Proportionate share of 50 percent-owned persons

      —     
  

 

 

  
   $ 351   
  

 

 

  

Amount representative of the interest factor in rents:

   

Consolidated

    $ 29   

Proportionate share of 50 percent-owned persons

      —     
  

 

 

  
   $ 29   
  

 

 

  

Fixed charges added to earnings

    $ 380   
  

 

 

  

Interest capitalized:

   

Consolidated

    $ 41   

Proportionate share of 50 percent-owned persons

      —     
  

 

 

  
   $ 41   
  

 

 

  

Preferred stock dividend requirements of majority-owned subsidiaries

      —     
  

 

 

  

Total fixed charges

    $ 421   
  

 

 

  

Ratio of earnings to fixed charges

      1.8