EX-12.1 2 aet09302012exhibit121.htm EX-12.1 AET 09.30.2012 Exhibit 12.1


Exhibit 12.1

Computation of Ratios

The computation of the ratio of earnings to fixed charges for the nine months ended September 30, 2012 and the years ended December 31, 2011, 2010, 2009, 2008 and 2007 are as follows:

Nine Months Ended
 
Years Ended December 31,
(Millions)
September 30, 2012

2011

2010

2009

2008

2007

Income from continuing operations before income taxes
$
2,254.3

$
3,077.8

$
2,644.2

$
1,901.2

$
2,174.2

$
2,796.4

Add back fixed charges
229.4

293.6

307.7

302.9

297.9

234.3

Income as adjusted ("earnings")
$
2,483.7

$
3,371.4

$
2,951.9

$
2,204.1

$
2,472.1

$
3,030.7

 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
Interest expense
$
192.2

$
246.9

$
254.6

$
243.4

$
236.4

$
180.6

Portion of rents representative of interest factor
37.2

46.7

53.1

59.5

61.5

53.7

Total fixed charges
$
229.4

$
293.6

$
307.7

$
302.9

$
297.9

$
234.3

Ratio of earnings to fixed charges
10.83

11.48

9.59

7.28

8.30

12.94