Exhibit 12
ALLETE
Computation of Ratios of Earnings to Fixed Charges (Unaudited)
For the Nine Months Ended September 30, | For the Years Ended December 31, | |||||||
2010 | 2009 | 2008 | 2007 | 2006 | 2005 | |||
Millions | ||||||||
Earnings as defined: | ||||||||
Pretax Income Before Non-Controlling Interest | $102.2 | $91.5 | $126.4 | $137.2 | $128.2 | $19.8 | ||
Add: Fixed Charges | 31.2 | 38.3 | 30.3 | 26.6 | 27.7 | 27.3 | ||
Less: Non-Controlling Interest (a) | – | – | – | – | – | – | ||
Undistributed Income from Less than 50 percent Owned Equity Investment | 2.5 | 3.7 | 3.8 | 3.3 | 2.3 | – | ||
Earnings as defined: | $130.9 | $126.1 | $152.9 | $160.5 | $153.6 | $47.1 | ||
Fixed Charges: | ||||||||
Interest on Long-Term Debt | $28.9 | $34.2 | $27.4 | $23.2 | $22.8 | $23.4 | ||
Other Interest Charges | 0.4 | 1.6 | 0.4 | 1.5 | 2.9 | 1.1 | ||
Interest Component of All Rentals (b) | 1.9 | 2.5 | 2.5 | 1.9 | 2.0 | 2.8 | ||
Total Fixed Charges | $31.2 | $38.3 | $30.3 | $26.6 | $27.7 | $27.3 | ||
Ratio of Earnings to Fixed Charges | 4.20 | 3.29 | 5.05 | 6.03 | 5.55 | 1.73 |
(a) Pre-tax income of subsidiaries that have not incurred fixed charges.
(b) Represents interest portion of rents estimated at 33 1/3 percent.