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- 10-K Annual report
- 4 Form of 5.55% Notes Due 2017
- 4 Form of 5.90% Notes Due 2027
- 4 Form of 5.95% Notes Due 2037
- 10 Amendments to Alcoa Stock Acquisition Plan
- 10 Amendments to Employees' Excess Benefit Plan, Plan a
- 10 Amendments to Employees' Excess Benefit Plan, Plan C
- 10 Amendments to Deferred Compensation Plan
- 10 Amendments to Alcoa Supplemental Pension Plan for Senior Executives
- 10 Amendments to Alcoa Deferred Compensation Estate Enhancement Plan
- 10 Amendments to Global Pension Plan
- 10 Amended and Restated Executive Severance Agreement - Klaus Kleinfeld
- 10 Amended and Restated Executive Severance Agreement - William F. Christopher
- 10 Amended and Restated Executive Severance Agreement - Charles D. Mclane, JR.
- 10 Amended and Restated Executive Severance Agreement - Bernt Reitan
- 10 Amended and Restated Executive Severance Agreement - J. Michael Schell
- 10 Amended and Restated Executive Severance Agreement - Helmut Wieser
- 10 Director Plan: You Make a Difference Award
- 12 Computation of Ratio of Earnings to Fixed Charges
- 21 Subsidiaries and Equity Entities of the Registrant
- 23 Consent of Independent Registered Public Accounting Firm
- 24 Power of Attorney for Certain Directors
- 31 Section 302 CEO and CFO Certifications
- 32 Section 906 CEO and CFO Certification
- 99 364-DAY Revolving Credit Agreement
- CORRESP Corresp
- COVER Cover
Exhibit 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
FOR THE YEAR ENDED DECEMBER 31,
(in millions, except ratios)
2008 | 2007 | 2006 | 2005 | 2004 | ||||||||||||||||
Earnings: | ||||||||||||||||||||
Income from continuing operations before taxes on income | $ | 792 | $ | 4,802 | $ | 3,515 | $ | 2,008 | $ | 2,116 | ||||||||||
Minority interests’ share of earnings of majority-owned subsidiaries without fixed charges | — | — | — | — | — | |||||||||||||||
Equity income | (130 | ) | (168 | ) | (127 | ) | (66 | ) | (145 | ) | ||||||||||
Fixed charges added to earnings | 452 | 454 | 436 | 378 | 305 | |||||||||||||||
Distributed income of less than 50 percent-owned persons | 81 | 51 | 37 | 40 | 59 | |||||||||||||||
Amortization of capitalized interest: | ||||||||||||||||||||
Consolidated | 26 | 21 | 21 | 25 | 25 | |||||||||||||||
Proportionate share of 50 percent-owned persons | — | — | — | — | — | |||||||||||||||
Total earnings | $ | 1,221 | $ | 5,160 | $ | 3,882 | $ | 2,385 | $ | 2,360 | ||||||||||
Fixed Charges: | ||||||||||||||||||||
Interest expense: | ||||||||||||||||||||
Consolidated | $ | 407 | $ | 401 | $ | 384 | $ | 334 | $ | 267 | ||||||||||
Proportionate share of 50 percent-owned persons | 1 | 3 | 5 | 3 | 3 | |||||||||||||||
408 | 404 | 389 | 337 | 270 | ||||||||||||||||
Amount representative of the interest factor in rents: | ||||||||||||||||||||
Consolidated | 43 | 48 | 45 | 39 | 33 | |||||||||||||||
Proportionate share of 50 percent-owned persons | 1 | 2 | 2 | 2 | 2 | |||||||||||||||
44 | 50 | 47 | 41 | 35 | ||||||||||||||||
Fixed charges added to earnings | 452 | 454 | 436 | 378 | 305 | |||||||||||||||
Interest capitalized: | ||||||||||||||||||||
Consolidated | 167 | 199 | 128 | 58 | 27 | |||||||||||||||
Proportionate share of 50 percent-owned persons | 2 | 4 | 2 | — | — | |||||||||||||||
169 | 203 | 130 | 58 | 27 | ||||||||||||||||
Preferred stock dividend requirements of majority-owned subsidiaries | — | — | — | — | — | |||||||||||||||
Total fixed charges | $ | 621 | $ | 657 | $ | 566 | $ | 436 | $ | 332 | ||||||||||
Ratio of earnings to fixed charges | 2.0 | 7.9 | 6.9 | 5.5 | 7.1 | |||||||||||||||
The financial information for all prior periods presented was reclassified to reflect discontinued operations.