United States

Securities and Exchange Commission

Washington, D.C. 20549

 

FORM 6-K

 

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16

of the

Securities Exchange Act of 1934

 

For the month of

September 2015

 

Vale S.A.

 

Avenida Graça Aranha, No. 26
20030-900 Rio de Janeiro, RJ, Brazil

(Address of principal executive office)

 

(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)

 

(Check One) Form 20-F x Form 40-F o

 

(Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1))

 

(Check One) Yes o No x

 

(Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7))

 

(Check One) Yes oNo x

 

(Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.)

 

(Check One) Yes o No x

 

 

 



 

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

 

 

Year ended December 31,

 

Six months ended June 30,

 

 

 

2010

 

2011

 

2012

 

2013

 

2014

 

2014

 

2015

 

 

 

(US$ million)

 

Income before income taxes and equity results

 

20,314

 

26,799

 

5,387

 

6,731

 

1,109

 

5,332

 

(2,260

)

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest costs - capitalized

 

164

 

234

 

335

 

235

 

588

 

193

 

373

 

Interest costs - expensed

 

2,646

 

2,465

 

1,251

 

1,335

 

1,148

 

784

 

423

 

 

 

2,810

 

2,699

 

1,586

 

1,570

 

1,736

 

977

 

796

 

Amortization of capitalized interest

 

45

 

54

 

67

 

77

 

15

 

7

 

6

 

Distributed income of equity investees

 

1,161

 

1,038

 

460

 

834

 

568

 

219

 

212

 

 

 

24,330

 

30,590

 

7,500

 

9,212

 

3,428

 

6,535

 

(1,246

)

Less: interest capitalized

 

(164

)

(234

)

(335

)

(235

)

(588

)

(193

)

(373

)

 

 

24,166

 

30,356

 

7,165

 

8,977

 

2,840

 

6,342

 

(1,619

)

Ratio of earnings to fixed charges (1)

 

8.60

 

11.25

 

4.52

 

5.72

 

1.64

 

6.49

 

(2.03

)

 


(1) In the six months ended June 30, 2015, earnings available for fixed charges were inadequate to cover total fixed charges. The amount of the deficiency was US$2,415 million.

 

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Signatures

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

Vale S.A.

 

(Registrant)

 

 

 

By:

/s/ Luciano Siani Pires

Date: September 29, 2015

 

Luciano Siani Pires

 

 

Executive Director

 

 

 

 

 

By:

/s/ Humberto Freitas

 

 

Humberto Freitas

 

 

Executive Director

 

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