EX-12 4 d897461dex12.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, |  | 2015 |
Earnings: |  |  |  |
Income before income taxes |  | $ | 481 |
Noncontrolling interests’ share of earnings of majority-owned subsidiaries without fixed charges |  |  | — |
Equity loss |  |  | 4 |
Fixed charges added to earnings |  |  | 131 |
Distributed income of less than 50 percent-owned persons |  |  | 20 |
Amortization of capitalized interest: |  |  |  |
Consolidated |  |  | 11 |
Proportionate share of 50 percent-owned persons |  |  | — |
Total earnings |  | $ | 647 |
Fixed Charges: |  |  |  |
Interest expense: |  |  |  |
Consolidated |  | $ | 122 |
Proportionate share of 50 percent-owned persons |  |  | — |
|  | $ | 122 |
Amount representative of the interest factor in rents: |  |  |  |
Consolidated |  | $ | 9 |
Proportionate share of 50 percent-owned persons |  |  | — |
|  | $ | 9 |
Fixed charges added to earnings |  | $ | 131 |
Interest capitalized: |  |  |  |
Consolidated |  | $ | 15 |
Proportionate share of 50 percent-owned persons |  |  | — |
|  | $ | 15 |
Preferred stock dividend requirements of majority-owned subsidiaries |  |  | — |
Total fixed charges |  | $ | 146 |
Ratio of earnings to fixed charges |  |  | 4.4 |