MDU RESOURCES GROUP, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

AND COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

	Twelve Months Ended September 30, 2011			Year Ended December 31, 2010
	(In thousands of dollars)
Earnings Available for Fixed Charges:
Net Income (a)	$	220,497			$	218,205
Income Taxes		115,380				122,530
		335,877				340,735
Rents (b)		12,711				12,897
Interest (c)		87,603				88,930
Total Earnings Available for Fixed Charges	$	436,191			$	442,562
Preferred Dividend Requirements	$	685			$	685
Ratio of Income Before Income Taxes to Net Income		152	%			156	%
Preferred Dividend Factor on Pretax Basis		1,041				1,069
Fixed Charges (d)		106,331				107,552
Combined Fixed Charges and Preferred Stock Dividends	$	107,372			$	108,621
Ratio of Earnings to Fixed Charges		4.1x				4.1x
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends		4.1x				4.1x

(a) Net income excludes undistributed income for equity investees.

(b) Represents interest portion of rents estimated at 33 1/3%.

(c) Represents interest, amortization of debt discount and expense on all indebtedness and amortization of interest capitalized, and excludes amortization of gains or losses on reacquired debt (which, under the Federal Energy Regulatory Commission Uniform System of Accounts, is classified as a reduction of, or increase in, interest expense in the Consolidated Statements of Income) and interest capitalized.

(d) Represents rents (as defined above), interest, amortization of debt discount and expense on all indebtedness, and excludes amortization of gains or losses on reacquired debt (which, under the Federal Energy Regulatory Commission Uniform System of Accounts, is classified as a reduction of, or increase in, interest expense in the Consolidated Statements of Income).