EX-12 6 ex12.htm EXHIBIT 12 EX 12


Exhibit 12

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

 
 
 
For the Six Months Ended June 30,
 
For the Years Ended December 31,

 
 2013
 
2012
2011
2010
2009
2008
Millions
 
 
 
 
 
 
 
 
Earnings are defined:
 
 
 
 
 
 
 
 
 
Pretax Income Before Non-Controlling Interest
 

$58.1

 

$135.0


$129.2


$119.1


$91.5


$126.4

 
Add: Fixed Charges
 
27.7

 
51.2

47.6

43.4

38.3

30.3

 
Less: Undistributed Income from Less than
 
 
 
 
 
 
 
 
 
 50 percent Owned Equity Investment
 
2.3

 
3.8

3.8

3.4

3.7

3.8

 
Earnings as defined:
 

$83.5

 

$182.4


$173.0


$159.1


$126.1


$152.9

 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
Interest on Long-Term Debt
 

$25.2

 

$47.0


$43.1


$39.7


$34.2


$27.4

 
Other Interest Charges
 
0.7

 
0.4

1.6

1.0

1.6

0.4

 
Interest Component of All Rentals (a)
 
1.8

 
3.8

2.9

2.7

2.5

2.5

 
Total Fixed Charges
 

$27.7

 

$51.2


$47.6


$43.4


$38.3


$30.3

Ratio of Earnings to Fixed Charges
 
3.01

 
3.56

3.63

3.67

3.29

5.05

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