EX-12 3 d943108dex12.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, |  | 2015 |
Earnings: |  |  |  |
Income before income taxes |  | $ | 763 |
Noncontrolling interests’ share of earnings of majority-owned subsidiaries without fixed charges |  |  | — |
Equity loss |  |  | 10 |
Fixed charges added to earnings |  |  | 264 |
Distributed income of less than 50 percent-owned persons |  |  | 40 |
Amortization of capitalized interest: |  |  |  |
Consolidated |  |  | 21 |
Proportionate share of 50 percent-owned persons |  |  | — |
Total earnings |  | $ | 1,098 |
Fixed Charges: |  |  |  |
Interest expense: |  |  |  |
Consolidated |  | $ | 246 |
Proportionate share of 50 percent-owned persons |  |  | — |
|  | $ | 246 |
Amount representative of the interest factor in rents: |  |  |  |
Consolidated |  | $ | 18 |
Proportionate share of 50 percent-owned persons |  |  | — |
|  | $ | 18 |
Fixed charges added to earnings |  | $ | 264 |
Interest capitalized: |  |  |  |
Consolidated |  | $ | 29 |
Proportionate share of 50 percent-owned persons |  |  | — |
|  | $ | 29 |
Preferred stock dividend requirements of majority-owned subsidiaries |  |  | — |
Total fixed charges |  | $ | 293 |
Ratio of earnings to fixed charges |  |  | 3.7 |