EX-12 9 exhibit1212-31x2012.htm COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES Exhibit 12 12-31-2012


Exhibit 12

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

Year Ended December 31,
2012
2011
2010
2009
2008
Millions
 
 
 
 
 
Earnings are defined:
 
 
 
 
 
 
Pretax Income Before Non-Controlling Interest

$135.0


$129.2


$119.1


$91.5


$126.4

 
Add: Fixed Charges
51.2

47.6

43.4

38.3

30.3

 
Undistributed Income from Less than 50 percent Owned Equity Investment
3.8

3.8

3.4

3.7

3.8

 
Earnings as defined:

$182.4


$173.0


$159.1


$126.1


$152.9

 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
Interest on Long-Term Debt

$47.0


$43.1


$39.7


$34.2


$27.4

 
Other Interest Charges
0.4

1.6

1.0

1.6

0.4

 
Interest Component of All Rentals (a)
3.8

2.9

2.7

2.5

2.5

 
Total Fixed Charges

$51.2


$47.6


$43.4


$38.3


$30.3

Ratio of Earnings to Fixed Charges
3.56

3.63

3.67

3.29

5.05

(a)
Represents interest portion of rents estimated at 33 1/3 percent.