EX-12 5 exhibit1212-31x2015.htm EXHIBIT 12 Exhibit


Exhibit 12

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

Year Ended December 31
2015

2014

2013

2012

2011

Millions
 
 
 
 
 
Earnings as Defined
 
 
 
 
 
 
Pretax Income Before Non-Controlling Interest

$166.8


$162.2


$133.3


$135.0


$129.2

 
Add:
Fixed Charges
71.9

62.5

56.7

51.2

47.6

 
Less:
Undistributed Income from Less than 50 percent Owned Equity Investment
1.8

2.6

4.1

3.8

3.8

 
Earnings as Defined

$236.9


$222.1


$185.9


$182.4


$173.0

 
 
 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
 
Interest on Long-Term Debt

$64.7


$55.6


$50.9


$47.0


$43.1

 
Other Interest Charges
1.4

2.0

1.2

0.4

1.6

 
Interest Component of All Rentals (a)
5.8

4.9

4.6

3.8

2.9

 
Total Fixed Charges

$71.9


$62.5


$56.7


$51.2


$47.6

Ratio of Earnings to Fixed Charges
3.29

3.55

3.28

3.56

3.63

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