EX-12 8 exhibit1212-31x2013.htm EXHIBIT 12 RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12 12-31-2013


Exhibit 12

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

Year Ended December 31,
2013
2012
2011
2010
2009
Millions
 
 
 
 
 
Earnings are defined:
 
 
 
 
 
 
Pretax Income Before Non-Controlling Interest

$133.3


$135.0


$129.2


$119.1


$91.5

 
Add: Fixed Charges
56.7

51.2

47.6

43.4

38.3

 
Undistributed Income from Less than 50 percent Owned Equity Investment
4.1

3.8

3.8

3.4

3.7

 
Earnings as defined:

$185.9


$182.4


$173.0


$159.1


$126.1

 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
Interest on Long-Term Debt

$50.9


$47.0


$43.1


$39.7


$34.2

 
Other Interest Charges
1.2

0.4

1.6

1.0

1.6

 
Interest Component of All Rentals (a)
4.6

3.8

2.9

2.7

2.5

 
Total Fixed Charges

$56.7


$51.2


$47.6


$43.4


$38.3

Ratio of Earnings to Fixed Charges
3.28

3.56

3.63

3.67

3.29

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