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Previous: ALCOA INC, 10-Q, 2000-07-28 |
Next: ALCOA INC, 10-Q, EX-15, 2000-07-28 |
Alcoa and subsidiaries EXHIBIT 12
Computation of Ratio of Earnings to Fixed Charges
For the six months ended June 30, 2000
(in millions, except ratio)
2000
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Earnings:
Income before taxes on income $ 1,398
Minority interests' share of earnings of majority-
owned subsidiaries without fixed charges --
Equity income (53)
Fixed charges 165
Proportionate share of income of 50%-owned
persons 38
Distributed income of less than 50%-owned persons 8
Amortization of capitalized interest 9
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Total earnings $ 1,565
Fixed Charges:
Interest expense:
Consolidated $ 146
Proportionate share of 50%-owned persons 2
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148
Amount representative of the interest factor in rents:
Consolidated 16
Proportionate share of 50%-owned persons 1
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17
Fixed charges added to earnings 165
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Interest capitalized:
Consolidated 8
Proportionate share of 50%-owned persons --
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8
Preferred stock dividend requirements of
majority-owned subsidiaries --
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Total fixed charges $ 173
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Ratio of earnings to fixed charges 9
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