EX-12 2 d546704dex12.htm EX-12

Exhibit 12

Alcoa and subsidiaries

Computation of Ratio of Earnings to Fixed Charges

(in millions, except ratio)

Six months ended June 30, |  | 2013 |
Earnings: |  |  |  |
Income before income taxes |  | $ | 107 |
Noncontrolling interests’ share of earnings of majority-owned subsidiaries without fixed charges |  |  | — |
Equity income |  |  | (23 | )
Fixed charges added to earnings |  |  | 252 |
Distributed income of less than 50 percent-owned persons |  |  | 46 |
Amortization of capitalized interest: |  |  |  |
Consolidated |  |  | 22 |
Proportionate share of 50 percent-owned persons |  |  | — |
Total earnings |  | $ | 404 |
Fixed Charges: |  |  |  |
Interest expense: |  |  |  |
Consolidated |  | $ | 233 |
Proportionate share of 50 percent-owned persons |  |  | — |
|  | $ | 233 |
Amount representative of the interest factor in rents: |  |  |  |
Consolidated |  | $ | 19 |
Proportionate share of 50 percent-owned persons |  |  | — |
|  | $ | 19 |
Fixed charges added to earnings |  | $ | 252 |
Interest capitalized: |  |  |  |
Consolidated |  | $ | 50 |
Proportionate share of 50 percent-owned persons |  |  | — |
|  | $ | 50 |
Preferred stock dividend requirements of majority-owned subsidiaries |  |  | — |
Total fixed charges |  | $ | 302 |
Ratio of earnings to fixed charges |  |  | 1.3 |