EX-12 2 d701633dex12.htm EX-12 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.