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Alcoa 10-K 2005

Documents found in this filing:

  1. For the Fiscal Year Ended December 31, 2004
  2. Global Pension Plan Effective January 1, 1998
  3. Amendments To Global Pension Plan
  4. Summary of Non-Employee Director Compensation Effective January 1, 2005
  5. Executive Financial Planning Program
  6. Income Tax Preparation Program
  7. Computation of Ratio of Earnings To Fixed Charges.
  8. Portions of Alcoa'S 2004 Annual Report To Shareholders
  9. Subsidiaries and Equity Entities of the Registrant.
  10. Consent of Independent Accountants.
  11. Power of Attorney for Certain Directors.
  12. Section 302 CEO and CFO Certifications
  13. Section 906 CEO and CFO Certification
  14. Graphic
  15. Graphic
  16. Graphic
  17. Graphic
  18. Graphic
  19. Graphic
  20. Graphic
  21. Graphic
  22. Graphic
  23. Complete submission text file
Computation of Ratio of Earnings to Fixed Charges.

Exhibit 12

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

FOR THE YEAR ENDED DECEMBER 31

(in millions, except ratios)

 

     2004
     2003
     2002
     2001
     2000
  

Earnings:

                                         

Income from continuing operations before taxes on income and before accounting change

    $ 2,204     $ 1,710     $ 1,007     $ 1,623     $ 2,697  

Minority interests’ share of earnings of majority-owned subsidiaries without fixed charges

      —         —         —         —         1  

Less equity earnings

      (145 )     (138 )     (72 )     (118 )     (115 )

Fixed charges added to earnings

      314       347       380       420       469  

Distributed income of less than 50% owned persons

      59       35       21       23       9  

Amortization of capitalized interest:

                                         

Consolidated

      25       21       14       13       15  

Proportionate share of 50% owned persons

      —         —         —         —         —    
    
 
 
 
 

Total earnings

    $ 2,457     $ 1,975     $ 1,350     $ 1,961     $ 3,076  

Fixed Charges:

                                         

Interest expense:

                                         

Consolidated

    $ 271     $ 314     $ 350     $ 371     $ 427  

Proportionate share of 50% owned persons

      3       4       4       6       6  
    
 
 
 
 
       274       318       354       377       433  
    
 
 
 
 

Amount representative of the interest factor in rents:

                                         

Consolidated

      38       28       25       41       34  

Proportionate share of 50% owned persons

      2       1       1       2       2  
    
 
 
 
 
       40       29       26       43       36  

Fixed charges added to earnings

      314       347       380       420       469  
    
 
 
 
 

Interest capitalized:

                                         

Consolidated

      27       21       22       22       20  

Proportionate share of 50% owned persons

      —         —         —         —         —    
    
 
 
 
 
       27       21       22       22       20  
    
 
 
 
 

Total fixed charges

    $ 341     $ 368     $ 402     $ 442     $ 489  

Ratio of earnings to fixed charges

      7.2       5.4       3.4       4.4       6.3  
    
 
 
 
 

 

The financial information of all prior periods has been reclassified to reflect discontinued operations.

 

 

40

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