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Previous: ALCOA INC, 10-Q, 2000-10-20 |
Next: ALCOA INC, 10-Q, EX-15, 2000-10-20 |
<PAGE>
Alcoa and subsidiaries EXHIBIT 12
Computation of Ratio of Earnings to Fixed Charges
For the nine months ended September 30, 2000
(in millions, except ratio)
<TABLE>
2000
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<S> <C>
Earnings:
Income before taxes on income $2,092
Minority interests' share of earnings of majority-
owned subsidiaries without fixed charges -
Equity income (81)
Fixed charges 315
Proportionate share of income of 50%-owned
persons 58
Distributed income of less than 50%-owned persons 8
Amortization of capitalized interest 12
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Total earnings $2,404
Fixed Charges:
Interest expense:
Consolidated $ 287
Proportionate share of 50%-owned persons 2
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289
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Amount representative of the interest factor in rents:
Consolidated 25
Proportionate share of 50%-owned persons 1
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26
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Fixed charges added to earnings 315
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Interest capitalized:
Consolidated 13
Proportionate share of 50%-owned persons -
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13
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Preferred stock dividend requirements of
majority-owned subsidiaries -
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Total fixed charges $ 328
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Ratio of earnings to fixed charges 7
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</TABLE>
25
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