Attached files
| file | filename |
|---|---|
| EX-95 - EX-95 - Howmet Aerospace Inc. | d259828dex95.htm |
| EX-15 - EX-15 - Howmet Aerospace Inc. | d259828dex15.htm |
| EX-31 - EX-31 - Howmet Aerospace Inc. | d259828dex31.htm |
| 10-Q - FORM 10-Q - Howmet Aerospace Inc. | d259828d10q.htm |
| EX-32 - EX-32 - Howmet Aerospace Inc. | d259828dex32.htm |
Exhibit 12
Alcoa and subsidiaries
Computations of Ratio of Earnings to Fixed Charges and Ratio of Earnings to Combined Fixed
Charges and Preferred Stock Dividends
(in millions, except ratio)
| Three months ended March 31, |
2016 | |||
| Earnings: |
||||
| Income before income taxes |
$ | 41 | ||
| Noncontrolling interests’ share of earnings of majority-owned subsidiaries without fixed charges |
— | |||
| Equity loss |
(15 | ) | ||
| Fixed charges added to earnings |
136 | |||
| Distributed income of less than 50 percent-owned persons |
19 | |||
| Amortization of capitalized interest: |
||||
| Consolidated |
10 | |||
| Proportionate share of 50 percent-owned persons |
— | |||
|
|
|
|||
| Total earnings |
$ | 191 | ||
|
|
|
|||
| Fixed Charges: |
||||
| Interest expense: |
||||
| Consolidated |
$ | 127 | ||
| Proportionate share of 50 percent-owned persons |
— | |||
|
|
|
|||
| $ | 127 | |||
|
|
|
|||
| Amount representative of the interest factor in rents: |
||||
| Consolidated |
$ | 9 | ||
| Proportionate share of 50 percent-owned persons |
— | |||
|
|
|
|||
| $ | 9 | |||
|
|
|
|||
| Fixed charges added to earnings |
$ | 136 | ||
|
|
|
|||
| Interest capitalized: |
||||
| Consolidated |
$ | 13 | ||
| Proportionate share of 50 percent-owned persons |
— | |||
|
|
|
|||
| $ | 13 | |||
|
|
|
|||
| Preferred stock dividend requirements of majority-owned subsidiaries |
— | |||
|
|
|
|||
| Total fixed charges |
$ | 149 | ||
|
|
|
|||
| Pretax earnings required to pay preferred stock dividends* |
$ | 27 | ||
|
|
|
|||
| Combined total fixed charges and preferred stock dividends |
$ | 176 | ||
|
|
|
|||
| Ratio of earnings to fixed charges |
1.3 | |||
|
|
|
|||
| Ratio of earnings to fixed charges and preferred stock dividends |
1.1 | |||
|
|
|
|||
| * | Based on a U.S. statutory tax rate of 35% |