EX-12 8 exhibit_12.htm COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES exhibit_12.htm
Exhibit 12

ALLETE
Computation of Ratios of Earnings to Fixed Charges (Unaudited)

Year Ended December 31
2009
2008
2007
2006
2005
Millions
          
           
Earnings as defined:
          
Pretax Income Before Non-Controlling Interest
$91.5
$126.4
$137.2
$128.2
$19.8
Add: Fixed Charges
38.3
30.3
26.6
27.7
27.3
Less:  Non-Controlling Interest (a)
–
–
–
–
–
Undistributed Income from Less than 50 percent
          
Owned Equity Investment
3.7
3.8
3.3
2.3
–
Earnings as defined:
126.1
152.9
160.5
153.6
47.1
Fixed Charges:
          
Interest on Long-Term Debt
34.2
27.4
23.2
22.8
23.4
Other Interest Charges
1.6
0.4
1.5
2.9
1.1
Interest Component of All Rentals (b)
2.5
2.5
1.9
2.0
2.8
Total Fixed Charges
38.3
30.3
26.6
27.7
27.3
Ratio of Earnings to Fixed Charges
3.29
5.05
6.03
5.55
1.73

(a) Pre-tax income of subsidiaries that have not incurred fixed charges.
(b) Represents interest portion of rents estimated at 33 1/3 percent.