RIO » Topics » Pro Forma Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Dividends

This excerpt taken from the RIO 6-K filed Nov 13, 2006.

Pro Forma Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Dividends

The pro forma ratio of earnings to combined fixed charges and preferred dividends was calculated as follows:

 

      Year Ended
December 31, 2005
   

Nine Months Ended

September 30, 2006

 

Income before income taxes, equity results and minority interests

   US$ 4,998     US$ 6,642  

Fixed charges:

    

Interest costs - capitalized

     189       153  

Interest costs - expensed

     1,444       1,315  

Guaranteed preferred stock dividend

     129       210  
                
     1,762       1,678  

Amortization of capitalized interest

     17       16  

Distributed income of equity investees

     489       452  
                
     7,266       8,788  

Less: Interest capitalized

     (189 )     (153 )
                
     7,077       8,635  
                

Ratio of earnings to combined fixed charges and preferred dividends

     4.02x       5.15x  

 

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