EX-12 2 d701633dex12.htm EX-12

Exhibit 12

Alcoa and subsidiaries

Computation of Ratio of Earnings to Fixed Charges

(in millions, except ratio)

Three months ended March 31, |  | 2014 |
Earnings: |  |  |  |
Loss before income taxes |  | $ | (274 | )
Noncontrolling interests’ share of earnings of majority-owned subsidiaries without fixed charges |  |  | — |
Equity loss |  |  | 14 |
Fixed charges added to earnings |  |  | 130 |
Distributed income of less than 50 percent-owned persons |  |  | 21 |
Amortization of capitalized interest: |  |  |  |
Consolidated |  |  | 12 |
Proportionate share of 50 percent-owned persons |  |  | — |
Total earnings |  | $ | (97 | )
Fixed Charges: |  |  |  |
Interest expense: |  |  |  |
Consolidated |  | $ | 120 |
Proportionate share of 50 percent-owned persons |  |  | — |
|  | $ | 120 |
Amount representative of the interest factor in rents: |  |  |  |
Consolidated |  | $ | 10 |
Proportionate share of 50 percent-owned persons |  |  | — |
|  | $ | 10 |
Fixed charges added to earnings |  | $ | 130 |
Interest capitalized: |  |  |  |
Consolidated |  | $ | 12 |
Proportionate share of 50 percent-owned persons |  |  | — |
|  | $ | 12 |
Preferred stock dividend requirements of majority-owned subsidiaries |  |  | — |
Total fixed charges |  | $ | 142 |
Ratio of earnings to fixed charges |  |  | (A) |

(A) | For the three months ended March 31, 2014, there was a deficiency in earnings of $239 to cover total fixed charges.