Attached files
Exhibit 12
Alcoa and subsidiaries
Computation of Ratio of Earnings to Fixed Charges
(in millions, except ratio)
| Nine months ended September 30, |
2009 | |||
| Earnings: |
||||
| Loss from continuing operations before income taxes |
$ | (1,104 | ) | |
| Noncontrolling interests’ share of earnings of majority-owned subsidiaries without fixed charges |
— | |||
| Equity income |
(38 | ) | ||
| Fixed charges added to earnings |
377 | |||
| Distributed income of less than 50 percent-owned persons |
42 | |||
| Amortization of capitalized interest: |
||||
| Consolidated |
20 | |||
| Proportionate share of 50%-owned persons |
— | |||
| Total earnings |
$ | (703 | ) | |
| Fixed Charges: |
||||
| Interest expense: |
||||
| Consolidated |
$ | 349 | ||
| Proportionate share of 50 percent-owned persons |
— | |||
| $ | 349 | |||
| Amount representative of the interest factor in rents: |
||||
| Consolidated |
$ | 28 | ||
| Proportionate share of 50 percent-owned persons |
— | |||
| $ | 28 | |||
| Fixed charges added to earnings |
$ | 377 | ||
| Interest capitalized: |
||||
| Consolidated |
$ | 137 | ||
| Proportionate share of 50 percent-owned persons |
— | |||
| $ | 137 | |||
| Preferred stock dividend requirements of majority-owned subsidiaries |
— | |||
| Total fixed charges |
$ | 514 | ||
| Ratio of earnings to fixed charges |
(A | ) | ||
| (A) | For the nine months ended September 30, 2009, there is a deficiency of earnings to cover the fixed charges of $1,217. |