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Content analysis
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- 10-Q Quarterly report
- 10 Form of Agreement for Stock Option Awards
- 10 Form of Agreement for Stock Awards
- 10 Form of Agreement for Performance Share Awards
- 10 Stock Option Awards Rules Revised January 1, 2004
- 10 Stock Awards Rules Effective January 1, 2004
- 10 Performance Share Awards Rules Effective January 1, 2004
- 10 Alcoa Incentive Compensation Plan
- 10 Amended and Restated Dividend Equivalent Compensation Plan
- 12 Computation of Ratio of Earnings to Fixed Charges
- 15 Letter Regarding Unaudited Interim Financial Information
- 31 Section 302 CEO and CFO Certification
- 32 Section 906 CEO and CFO Certification
EXHIBIT 12 |
Alcoa and subsidiaries
Computation of Ratio of Earnings to Fixed Charges
For the nine months ended September 30, 2004
(in millions, except ratio)
Nine months ended September 30 | 2004 | |||
Earnings: | ||||
Income from continuing operations before taxes on income | $ | 1,740 | ||
Minority interests’ share of earnings of majority-owned subsidiaries without fixed charges | — | |||
Equity income | (110 | ) | ||
Fixed charges | 233 | |||
Distributed income of less than 50%-owned persons | 53 | |||
Amortization of capitalized interest | 19 | |||
Total earnings | $ | 1,935 | ||
Fixed Charges: | ||||
Interest expense: | ||||
Consolidated | $ | 200 | ||
Proportionate share of 50%-owned persons | 2 | |||
$ | 202 | |||
Amount representative of the interest factor in rents: | ||||
Consolidated | $ | 30 | ||
Proportionate share of 50%-owned persons | 1 | |||
$ | 31 | |||
Fixed charges added to earnings | $ | 233 | ||
Interest capitalized: | ||||
Consolidated | $ | 19 | ||
Proportionate share of 50%-owned persons | — | |||
$ | 19 | |||
Preferred stock dividend requirements of majority-owned subsidiaries | — | |||
Total fixed charges | $ | 252 | ||
Ratio of earnings to fixed charges | 7.69 | |||
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