EX-12.1 2 aet03312012exhibit121.htm EXHIBIT 12.1 AET 03.31.2012 Exhibit 12.1


Exhibit 12.1

Computation of Ratios

The computation of the ratio of earnings to fixed charges for the three months ended March 31, 2012 and the years ended December 31, 2011, 2010, 2009, 2008 and 2007 are as follows:

Three Months Ended
 
Years Ended December 31,
(Millions)
March 31, 2012

2011

2010

2009

2008

2007

Income from continuing operations before income taxes
$
784.3

$
3,077.8

$
2,644.2

$
1,901.2

$
2,174.2

$
2,796.4

Add back fixed charges
71.7

293.6

307.7

302.9

297.9

234.3

Income as adjusted ("earnings")
$
856.0

$
3,371.4

$
2,951.9

$
2,204.1

$
2,472.1

$
3,030.7

 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
Interest expense
$
59.3

$
246.9

$
254.6

$
243.4

$
236.4

$
180.6

Portion of rents representative of interest factor
12.4

46.7

53.1

59.5

61.5

53.7

Total fixed charges
$
71.7

$
293.6

$
307.7

$
302.9

$
297.9

$
234.3

Ratio of earnings to fixed charges
11.94

11.48

9.59

7.28

8.30

12.94